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• It's like Bank of America, but focused on the Midwest and surrounding states, offering a full range of consumer and commercial banking services.
• Imagine a regional version of Chase Bank, providing everything from everyday checking accounts to complex commercial loans and wealth management solutions.

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Huntington Bancshares (HBAN) offers a comprehensive suite of banking and financial services, which can be categorized as follows:

• Deposit Accounts: Services including checking accounts, savings accounts, money market accounts, and certificates of deposit.
• Lending and Credit Services: A wide range of loans for consumers (personal, mortgage, vehicle), small businesses, and commercial entities, along with credit cards and asset finance.
• Commercial Banking Solutions: Specialized financial services for middle market businesses, government and public sector entities, and commercial real estate, including industry-specific financing and capital raising.
• Vehicle Finance: Provides financing to consumers for vehicle purchases and to dealerships for new and used inventory.
• Wealth and Investment Management: Services such as private banking, wealth management, investment management, and retirement plan services.
• Treasury and Risk Management Services: Offerings like treasury management, corporate risk management products, interest rate risk protection, and foreign exchange.
• Insurance Products: Various insurance offerings for consumers and businesses.
• Digital Banking Services: Online, mobile, and telephone banking platforms for convenient account access and management.

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Huntington Bancshares (HBAN) serves a diverse customer base, including both individuals and businesses. Due to the broad nature of a bank's operations and its extensive customer base across various segments, it is not feasible to list specific customer company names. Instead, its major customers can be described across the following categories:

1. Individual Consumers: This category includes everyday individuals who utilize a wide range of personal banking services such as checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, consumer loans, mortgages, and financing for personal automobiles, light-duty trucks, recreational vehicles, and marine craft.
2. Commercial and Business Clients: This broad category encompasses small businesses, middle market businesses, government and public sector entities, commercial real estate developers/REITs, and franchised dealerships (for inventory financing). It also includes specialized industries such as healthcare, technology and telecommunications, franchise finance, sponsor finance, and global services, all seeking various commercial banking solutions, asset finance, capital raising, and treasury management services.
3. Wealth Management and Private Clients: This segment caters to affluent individuals and high-net-worth clients seeking specialized financial services including private banking, comprehensive wealth and investment management, and retirement plan services.

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Stephen D. Steinour, Chairman, President, and Chief Executive Officer

Stephen D. Steinour joined Huntington in 2009. Prior to this, he served as Managing Partner at CrossHarbor Capital Partners, which has been described as a private equity firm and a manager of alternative investments. Before his time at CrossHarbor Capital Partners, he was President and CEO of Citizens Financial Group, Division Executive for Fleet Financial Group, and Executive Vice President at Bank of New England. Mr. Steinour began his career as an analyst for the U.S. Treasury Department and later worked for the FDIC.

Zachary J. Wasserman, Chief Financial Officer, Senior Executive Vice President

Zachary J. Wasserman joined Huntington in November 2019. Before joining Huntington, he served as the Chief Financial Officer for Visa, Inc.'s North American business. Prior to Visa, Mr. Wasserman held various roles at American Express Company, including Chief Financial Officer of the U.S. consumer business, and for global merchant services, global network services, and the global commercial card business. He started his career in investment banking at Prudential Securities and corporate development at Mercer Partners.

Helga S. Houston, Senior Executive Vice President, Chief Risk Officer

Helga S. Houston is the Chief Risk Officer at Huntington Bancshares. She leads the company's Corporate Risk Management and Legal team, which is responsible for the enterprise risk management program that supports Huntington's strategies.

Julie C. Tutkovics, Senior Executive Vice President, Chief Marketing and Communications Officer

Julie C. Tutkovics joined Huntington in August 2016 following Huntington's acquisition of FirstMerit Corporation, where she held the position of Executive Vice President and Chief Marketing Officer from November 2010 to August 2016. Her career in banking also includes marketing and product leadership roles at New York Community Bancorp, Inc. (formerly AmTrust Bank), Citizens Financial Group (Charter One, Citizens Bank, and RBS Americas brands), Fidelity Investments, and KeyCorp.

Scott D. Kleinman, Senior Executive Vice President and President, Commercial Bank

Scott D. Kleinman succeeded Rick Remiker as Commercial Banking Director in May 2020. He has been with Huntington since 1991. During his tenure, he launched Huntington's interest rate derivative platform and commodities hedging business, expanded institutional trading, foreign exchange and public finance capabilities, and served as Chief Operating Officer of Capital Markets.

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Here are the key risks to Huntington Bancshares (HBAN):

1. Market Risk from Interest Rate Fluctuations: Huntington Bancshares is significantly exposed to market risk, primarily due to fluctuations in interest rates. The company's financial performance depends substantially on its net interest income, which is the difference between the interest earned on its assets (such as loans and investments) and the interest paid on its liabilities (like deposits and borrowings). Changes in governmental monetary policies and broader economic conditions can cause interest rates to move, directly impacting this crucial income stream. While Huntington uses financial simulation models and derivatives to manage various rate scenarios, interest rate volatility remains a core vulnerability.
2. Credit Risk: Huntington Bancshares faces inherent credit risk, which intensifies during periods of economic downturns. This risk is particularly evident in the potential for loan and lease customers or other counterparties to be unable to fulfill their financial obligations. An increase in "criticized loans," especially within its commercial and industrial (C&I) and commercial real estate (CRE) portfolios, poses a direct threat to the bank's financial stability. Such an increase can foreshadow a rise in non-performing assets and loan losses, which would negatively affect the bank's profitability and capital ratios, potentially leading to increased loan loss provisions.
3. Integration Risk from Acquisitions: Huntington Bancshares has recently undertaken significant acquisitions, including Cadence Bank and Veritex, which introduce substantial integration risks. The complexities involved in merging different corporate cultures, harmonizing operational processes, and consolidating technology systems can be costly and challenging. Ineffective management of these integration efforts could lead to operational inefficiencies, a decline in customer retention, or unforeseen expenses, potentially impacting the bank's performance.

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The continued rapid growth and adoption of digital-only banks (neobanks) and other financial technology (fintech) companies offering core banking services, often with lower fees, superior digital user experiences, and a branchless model, poses a clear emerging threat to traditional regional banks like Huntington Bancshares by attracting customers away from their established consumer and business banking segments.

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Huntington Bancshares (HBAN) operates in several significant addressable markets within the United States.

• Consumer and Business Banking (Retail Banking): The United States retail banking market is estimated to be approximately USD 0.87 trillion in 2025.
• Small Business Lending: The U.S. small business loan market was valued at $245.39 billion in 2023. Additionally, banks originated over $328 billion in loans to small businesses across the U.S. in 2023.
• Mortgages: The total single-family mortgage origination volume in the U.S. is expected to reach $2.0 trillion in 2025 and increase to $2.2 trillion in 2026.
• Commercial Banking: The U.S. commercial banking market size is estimated at USD 732.5 billion in 2025.
• Vehicle Finance (Auto Loans): The U.S. Auto Loan Market is projected to be USD 676.20 billion in 2025.
• Wealth Management and Private Banking: The USA Wealth Management Market oversees trillions of dollars in assets under management (AUM). Specifically, robo-advisors alone managed over $1 trillion in assets as of 2025. The United States private banking market is valued at USD 59.54 billion in 2025.
• Treasury Management Services: The Treasury Management Market in the U.S. is estimated to be valued at USD 6.6 billion in 2025.

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Expected Drivers of Future Revenue Growth for Huntington Bancshares (HBAN)

• Expansion into High-Growth Markets and Acquisitions: Huntington Bancshares is strategically expanding its presence, particularly through recent acquisitions like Cadence Bank and Veritex, into faster-growing Southern markets such as Texas, Mississippi, Alabama, and the Carolinas. This geographic expansion is anticipated to unlock new growth opportunities and enhance market density, leading to increased revenue.
• Accelerated Loan and Sustained Deposit Growth: Management projects an acceleration in loan growth and continued expansion of deposit balances over the next few years. This growth is expected to be both organic and supported by the expanded footprint resulting from acquisitions, driving an increase in earning assets.
• Net Interest Income (NII) Expansion: Huntington anticipates growth in net interest income, which is expected to be driven by factors such as the repricing of fixed assets, lower deposit costs, and effective balance sheet management. Projections indicate annual NII growth in the range of 10-13% for 2026.
• Increased Noninterest (Fee) Income: The company expects to see a rise in noninterest income, with growth strategies focusing on diversified capital markets revenues, building advisory pipelines, and an increase in payments revenue through higher penetration of treasury management services. Core non-interest income growth is projected to be 5% to 7% for the full year 2024, with fee revenues projected to rise 13-16% in 2026.
• Realization of Revenue Synergies from Acquisitions: Huntington is actively integrating its recent acquisitions and expects to realize significant revenue synergies. These synergies are projected to reach a run-rate of over $300 million by 2028, reinforcing the company's earnings outlook.

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Share Repurchases

• Huntington Bancshares' Board of Directors approved a $1 billion share repurchase authorization in January 2023 for the following eight quarters.
• Another $1 billion share repurchase authorization was announced in April 2025, providing flexibility for capital deployment.
• Management's goals for 2027 include expanded share repurchases, targeting roughly $1.1 billion to $1.2 billion.

Share Issuance

• In 2021, the company's shares outstanding significantly increased by 41.99% from 2020, to 1.44 billion shares, following the merger with TCF Financial Corporation, which closed in June 2021.
• Huntington announced in July 2025 the all-stock acquisition of Texas-based Veritex Community Bank for $1.9 billion, which completed in October 2025.
• In October 2025, the company announced an all-stock deal to acquire Cadence Bank for $7.4 billion, involving the issuance of approximately 462 million new Huntington common shares. This merger was completed in February 2026.

Outbound Investments

• In June 2021, Huntington completed the acquisition of TCF Financial Corporation, a Detroit-based bank, which expanded its presence across the Midwest.
• During 2022, Huntington acquired Capstone Partners to enhance its capital markets capabilities and Torana to strengthen digital banking and enterprise payments strategies.
• In October 2025, Huntington completed the acquisition of Veritex Holdings, Inc., a Texas-based lender, which added $9.3 billion in loans and $10.5 billion in deposits and expanded its presence in Texas. In February 2026, the acquisition of Cadence Bank for approximately $7.4 billion was completed, further expanding its footprint across the Southern U.S.

Capital Expenditures

• In 2023, capital expenditures were primarily driven by investments in equipment and software aimed at alleviating labor shortages and improving operational efficiencies.
• The company continues to focus on investments in digital channels and technology, including tools like The Hub and Huntington Heads Up®, to enhance customer engagement and financial management.
• Huntington plans to reinvest cost savings into digital technology and marketing initiatives, with significant AI investment included under digital and technology as part of its long-term growth strategy for 2026.