Huntington Bancshares Reports Strong Q2 2026 Growth with $727M Net Income

Huntington Bancshares Incorporated reported significant financial growth in its second quarter of 2026, driven largely by its recent acquisitions of Veritex Holdings and Cadence Bank. The company posted a net income of $727 million, or $0.33 per diluted share, compared to $536 million, or $0.34 per diluted share, in the same quarter of the previous year. Notably, the current quarter's results were impacted by $152 million in acquisition-related expenses, which reduced earnings by $0.06 per share. In contrast, the prior year's results included a minor expense of $6 million related to staffing efficiencies.

The bank's net interest income surged to $2.1 billion, marking a 40% increase from the previous year, attributed to a 35% rise in average earning assets and a 10 basis point increase in the net interest margin (NIM) to 3.21%. This growth was partially offset by a corresponding increase in interest-bearing liabilities. The provision for credit losses also rose to $132 million, reflecting loan growth and higher net charge-offs, which totaled $119 million, or 0.25% of average loans and leases.

Huntington's total assets reached $284 billion as of June 30, 2026, a 26% increase from the end of 2025, primarily due to the acquisition of Cadence, which added $51.3 billion in assets. The bank's total liabilities also increased by 25% to $251.3 billion, driven by liabilities assumed from the Cadence acquisition and organic growth. The allowance for credit losses (ACL) stood at $3.4 billion, or 1.78% of total loans and leases, reflecting an increase from $2.7 billion at the end of 2025.

In terms of operational metrics, Huntington's employee headcount rose to 26,407, a 30% increase from the previous year, reflecting the integration of the acquired banks. The bank's customer base and deposit levels also expanded significantly, with total deposits increasing by 26% to $222.5 billion, bolstered by $43.5 billion in deposits from the Cadence acquisition. Looking ahead, Huntington anticipates continued growth driven by its strategic focus on enhancing customer relationships and expanding its market presence, despite potential economic uncertainties related to inflation and geopolitical factors.