Huntington Bancshares Reports Q1 2026 Financial Results with $523 Million Net Income

Huntington Bancshares Incorporated reported its financial results for the first quarter of 2026, revealing a net income of $523 million, or $0.25 per diluted share, a slight decrease from $527 million, or $0.34 per diluted share, in the same period last year. The decline in net income was attributed to $263 million in acquisition-related expenses and an $8 million provision for credit losses associated with the Cadence acquisition, which collectively reduced earnings by $0.12 per share. The bank's net interest income rose significantly to $1.89 billion, a 33% increase from the previous year, driven by a 27% rise in average earning assets and a 14 basis point increase in the net interest margin (NIM) to 3.24%.

The first quarter of 2026 saw Huntington complete two major acquisitions: Veritex Holdings, Inc. and Cadence Bank, which contributed to a substantial increase in total assets, which reached $285.4 billion, up 27% from the end of 2025. The acquisitions added approximately $51.3 billion in assets and $43.5 billion in deposits. The allowance for credit losses (ACL) also increased to $3.4 billion, or 1.78% of total loans and leases, reflecting the impact of the acquired loans and organic growth.

Operationally, Huntington's customer base expanded, with total deposits increasing by $46.9 billion, or 27%, to $223.5 billion. The bank's average employee headcount rose to 24,641, a 23% increase compared to the previous year, reflecting the integration of the acquired banks. Noninterest income surged to $682 million, a 38% increase year-over-year, driven by growth across various categories, including capital markets and advisory fees, which rose by 97%.

Looking ahead, Huntington's management expressed optimism about leveraging its expanded footprint and product offerings to drive growth. The bank aims to maintain a moderate-to-low risk appetite while focusing on organic growth initiatives and enhancing customer relationships. However, the economic environment remains uncertain, with potential challenges from inflation, geopolitical tensions, and evolving market conditions. The Federal Reserve's interest rate policies and their impact on the economy will also be closely monitored as Huntington navigates its strategic objectives in the coming quarters.