Huntington Bancshares Incorporated reported a net income of $536 million, or $0.34 per diluted share, for the second quarter of 2025, reflecting a 14% increase from the $474 million, or $0.30 per diluted share, recorded in the same period last year. The bank's net interest income rose to $1.5 billion, a 12% increase from the previous year, driven by a $13 billion increase in average earning assets and a 12 basis point rise in the net interest margin (NIM) to 3.11%. However, noninterest income decreased by 4% to $471 million, primarily due to a $58 million loss on the sale of investment securities.
Compared to the previous fiscal period, Huntington's total assets increased by 2% to $207.7 billion as of June 30, 2025, primarily due to a $4.9 billion rise in loans and leases. The bank's total liabilities also grew by 1% to $186.8 billion, with total deposits increasing by $932 million, or 1%. The allowance for credit losses (ACL) rose to $2.5 billion, representing 1.86% of total loans and leases, reflecting ongoing loan growth and a slight increase in the ACL coverage ratio.
Strategically, Huntington announced a definitive merger agreement with Veritex Holdings, Inc. on July 14, 2025, in a stock transaction valued at approximately $1.9 billion. This merger is expected to close in the fourth quarter of 2025, pending regulatory approvals and shareholder consent. The bank has also made adjustments to its deposit reporting categories to better align with its business management strategies.
Operationally, Huntington's average full-time employee count increased by 2% to 20,242, and the bank's customer base continues to expand, with significant growth in commercial loans and leases. The bank's credit quality remains stable, with nonaccrual loans and leases at 0.62% of total loans and leases, slightly up from 0.60% at the end of 2024. Looking ahead, Huntington's management remains optimistic about navigating the evolving economic landscape, emphasizing a commitment to maintaining a moderate-to-low risk appetite while pursuing profitable growth.
About HUNTINGTON BANCSHARES INC /MD/
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