Huntington reports Q2 EPS of $0.33, up 36% YoY, completes Cadence systems conversion

Huntington disclosed its second quarter 2026 financial results through a press release and quarterly financial supplement. The actual financial metrics are contained in the attached exhibits (99.1 and 99.2), which are referenced but not reproduced in the 8-K body.

The company scheduled a same-day earnings call at 9:00 a.m. Eastern Time with both webcast and dial-in access. Presentation slides will be available approximately $0.33 one hour before the call, and a replay will be archived for later access through July 31, 2026.

Huntington reported Q2 2026 diluted EPS of $0.33, up $0.08 from Q1 2026 ($0.25) and down $0.01 from Q2 2025 ($0.34). Excluding $152 million pre-tax Notable Items (acquisition-related expenses), adjusted EPS was $0.39, up $0.02 from Q1 2026 adjusted EPS of $0.37. Net income was $727 million, up 39% from Q1 and 36% year-over-year.

Net interest income (NII) rose to $2,052 million in Q2 2026, up 9% from Q1 2026 and 40% year-over-year, driven by a $67.5 billion (35%) increase in average earning assets and a 10 basis point expansion in net interest margin (NIM) to 3.21% versus the year-ago quarter. The NIM declined 3 basis points from Q1 2026 due to modestly higher funding costs, but the volume growth from the Cadence acquisition more than offset the margin compression.

Average total loans and leases grew to $189.3 billion in Q2 2026, up $15.0 billion (9%) from Q1 and $56.1 billion (42%) year-over-year, reflecting the Cadence and Veritex acquisitions plus organic growth. Average total deposits increased $18.8 billion (9%) from Q1 to $223.4 billion and $60.0 billion (37%) year-over-year. The Cadence acquisition added $36.9 billion of loans and $43.5 billion of deposits as of the acquisition date (February 1, 2026).

The nonperforming asset (NPA) ratio rose to 0.85% at June 30, 2026, up 13 basis points from Q1 2026 (0.72%) and 22 basis points from Q2 2025 (0.63%), driven by increases in commercial and industrial, residential mortgage, and commercial real estate nonaccruals, including NPAs acquired from Cadence and Veritex. Net charge-offs were 0.25% of average loans, down 1 basis point from Q1 but up 5 basis points year-over-year. The Common Equity Tier 1 ratio was 10.0%, down from 10.2% in Q1, and the tangible common equity ratio was 7.1%, up slightly from 7.0% in Q1.

Huntington reported Q2 2026 net income of $727 million, or $0.33 per diluted share, up 36% from $536 million ($0.34/share) in Q2 2025. Net income applicable to common shares was $686 million, up 35% year-over-year. The sequential increase from Q1 2026 was 39% ($523 million to $727 million), driven by higher revenue and lower provision expense.

Net interest income was $2,052 million in Q2 2026, up 40% from $1,467 million in Q2 2025 and up 9% sequentially from $1,891 million in Q1 2026. The year-over-year increase reflects higher earning asset balances and improved net interest margin, which expanded to 3.21% from 3.11% a year earlier.

Average loans and leases grew 42% year-over-year to $189.3 billion, driven by 59% growth in commercial loans. Average total deposits increased 37% to $223.4 billion. Sequential growth was 9% for both loans and deposits, indicating strong balance sheet expansion.

Net charge-offs were 0.25% of average loans in Q2 2026, up from 0.20% a year earlier but down from 0.26% in Q1 2026. The nonaccrual loan ratio increased to 0.84% from 0.62% a year ago, and the NPA ratio rose to 0.85% from 0.63%. The allowance for loan losses remained stable at 1.72% of total loans.

The common equity tier 1 ratio was 10.0% at June 30, 2026 (estimated), down from 10.5% a year earlier but still well above regulatory minimums. The tangible common equity to tangible assets ratio improved to 7.1% from 6.6% a year ago, indicating solid capital strength despite balance sheet growth.