Huntington Q4 2023 Earnings Report
Key Takeaways
Huntington Bancshares Incorporated reported a net income of $243 million, or $0.15 per common share, for the fourth quarter of 2023. Adjusted earnings per common share were $0.27, excluding $0.12 per common share of after-tax Notable Items. The quarter was highlighted by sustained deposit and loan growth, capital expansion, and strong credit quality.
Earnings per common share (EPS) for the quarter were $0.15, or $0.27 adjusted.
Net interest income decreased $52 million, or 4%, from the prior quarter.
Noninterest income decreased $104 million, or 20%, from the prior quarter, to $405 million.
Average total deposits increased $1.5 billion, or 1%, from the prior quarter.
Huntington
Huntington
Forward Guidance
Huntington is seeing attractive growth opportunities as they move into 2024, and are positioned to accelerate their loan growth forecast. They are leveraging their leading brand and trust metrics, to build on their growth momentum and intend to capitalize on their position of strength and to further acquire and deepen customer relationships.
Positive Outlook
- Customers are generally well positioned and are continuing to invest in their businesses.
- Attractive growth opportunities as we move into 2024.
- Positioned to accelerate our loan growth forecast given these dynamics.
- Leveraging our leading brand and trust metrics, to build on our growth momentum.
- Further acquire and deepen customer relationships.