huntington earnings call

It was clearly one of our most seasoned teams in the bay managing this area.

This is Rich, I'll be happy to take that.



Okay. So I think as we get through this year that will just continue to be an opportunity well out into '22 and beyond. And Mark is going to kill me, but I have to squeeze in this third question.



We saw an uptick in commercial loan activity late in the fourth quarter, consistent with our prior guidance.

RT=Real-Time, EOD=End of Day, Huntington Bancshares Market Cap $22B Today's Change (0.60%) $0.09 Current Price $15.01 Price as of January 27, 2023, 4:00 p.m.

Thank you.

I'll take that one.

Thank you.

To give you a sense, in Q4, it was around $5 million [Phonetic] and we expect to sort of maintain that rough level through the first half of the year. The impact of the COVID resurgence we face today, smaller than expected economic stimulus package and ongoing model challenges related to COVID economic forecasting.

And likely, if that does happen, we'll see that be elevated even more.

Such statements are based on information and assumptions available at this time and are subject to changes, risks and uncertainties, which may cause actual results to differ materially.

I'm sorry, $81 million of growth balanced between spread revenue and fee income. And I'm wondering, do you think that the government has been successful at redefining what the cycle peak is for this downturn in that the 35 basis points to 55 basis points represents the peak in losses that we will see during the cycle or do you think they have just delayed it to 2022. But I'm very optimistic and confident that we have our losses peaked in 2020.

Even following this flurry of activity in the year-end, our pipelines today are higher than they were a year ago before the pandemic. As always, we have provided additional granularity by portfolio in the analyst package and the slides.

Our next question comes from the line of Bill Carcache with Wolfe Research. But at some point we'll have a substantial tailwind as well.

Revert to what Zach said a minute ago, the core expenses are virtually flat in '21 versus '20. But we really like what we saw in diligence and have learned subsequently. And we may see it in the second half of this year, which is, I think, consistent with how many banks are expressing both GDP growth and optimism, as well as the potential for utilization.

And then secondly, what would you say the top theww revenue opportunities with this deal? And Rich, a question for you.

Huntington Ingalls Industries had a return on equity of 18.81% and a net margin And so, those expectations are, I believe, going to be a reality for our industry and certainly our company and we're going to -- we're going to invest to meet those, if not, I get ahead of them. Terms of Use. Results continue to be impacted by the elevated level of credit provision expense, although it was down meaningfully from the third quarter. As previously mentioned, expected gradual normalization of commercial utilization rates provides additional opportunity, which will help offset in the near term headwind from 2020 PPP loans as they are forgiven and repaid over the next two quarters. You saw us extinguish $500 million of debt in our tender that we did in Q4.

The remaining percentage point was primarily the net result of several unusual items, including TCF legal costs and debt extinguishment costs. 2022

Before we get to expectations, I want to spend a minute on our ongoing technology investments and progress on digital engagement. Hi, good morning. Okay. I'll take that. These steps and many others have fundamentally transformed the makeup of the Huntington loan portfolios since the last downturn.

QuoteMedia. Yeah.

A follow-up question -- Good morning.

Let me turn it over now to Rich to cover credit. Have a great day. Market Data powered by Particularly in the next quarter just in terms of the trajectory given the liquidity levels, how should we think about that? Richard Pohle -- Executive Vice President and Chief Credit Officer. We'll see, so far they are actually holding up fairly solid in the first days of Q1, and we'll see that those are volatile, as you know, but generally, we budgeted fairly conservatively. Hi, guys.

I would say absolutely the reserves have to come down. Power 2023 U.S. Retail Banking Satisfaction Study.

We expect consumer lending to remain strong and commercial activity to continue to improve over the course of the year.

And as we've seen in the past year with the pandemic, more and more home goods delivered, including groceries.

I appreciate all the color.

As noted on slide two, today's discussion, including the Q&A period, will contain forward-looking statements.

I'd now like to turn the conference over to your host, Mr. Mark Muth, Director of Investor Relations. 15 minutes unless otherwise indicated (view Market Data copyright 2023 QuoteMedia.

You must click the activation link in order to complete your subscription. I should also note that deposit service charges remained below the year-ago level as elevated customer deposit account balances continue to moderate the recovery of this line.

So that will be part of it. All earnings call transcripts on Huntington Ingalls Industries, Inc. (HII) stock.

Got it.

And you'll remember, we went into those almost a decade ago.

The investments we're making are heavily front-end loaded, resulting in notably higher year-over-year expense growth rates in the first half of the year.

I think as I pointed out, we're going to be prudent on -- we were conservative on the way up and we'll be prudent on the way down to make sure that we're not kind of whipsawing the provision on a quarter-by-quarter basis, overreacting to one data point. Or do you think that we'll see like a reversion to historical inventory levels?



If you experience any issues with this process, please contact us for further assistance.

And are you contemplating any growth from PPP 2.0, as well as forgiveness income from PPP 2.0 in your guide?

Making the world smarter, happier, and richer.

Looking at the average balance sheet for the full-year '21, we expect average loans to increase between 2% and 4% reflecting modestly higher commercial loans inclusive of PPP and mid single-digit growth in consumer loans. No problem.

We are also seeing continued strength in consumer lending. Our presenters today are Steve Steinour, Chairman, President and CEO; Zach Wasserman, Chief Financial Officer; and Rich Pohle, Chief Credit Officer. The Huntington logo, Huntington,The Huntington logoHuntington.Welcome. and Huntington Heads Up are federally registered service marks of Huntington Bancshares Incorporated.

The unemployment rate in November was below the national average in five of our seven states, including our largest market in Ohio at 5.7%. This scenario was much improved from the August baseline forecast we used in 3Q and assumes unemployment in 2020 ending the year at 7.2% and increasing to 7.5% for the first three quarters in 2021 to average 7.4% for the entire year. Remember, we have to call the reserves as we've seen. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies.

For a replay call, dial (877) 660-6853 or (201) 612-7415; Conference ID #13734972. Okay.

Jan. 20, 2023, 07:06 AM.

To make the world smarter, happier, and richer.

2020 GDP ends the full year, down 3.6% and demonstrates 4.1% growth for all of 2021 with that growth peaking at 5.8% in the fourth quarter.

The I would also add, our nonperforming asset ratio decreased 5 basis points linked quarter to 69 basis points. '21 from a position of strength. This is Zach.

They're using their cash, but at some point that will revert to a more traditional level of external financing, bank financing as well. Huntington Investor Relations Huntington Center, HC0935 41 South High Street Columbus, OH 43287 T: 800-576-5007

[Technical Issues] sort of slightly related, unrelated question.

Average core deposits increased 16% year-on-year and 2%, sequentially. Scott Siefers -- Piper Sandler -- Analyst.

Now, let me turn it back over to Mark, so we can get to your questions. Pre-COVID on the commercial side, the -- multiple quarters now of lower NPAs, lower crit class, the economic outlook, the combination of factors. Finally, before we get to your questions, let's discuss Huntingtons expectations for the full-year 2021 on a stand-alone basis excluding TCF as shown on slide 18. For many young men, the military-run CCC was their first job.

Many were given an education and health care, too.

Our general expectation for app volume is sort of down in the 10% to 15% range relative to that 20% or more down at an industry level. , Community Reinvestment Act Home Mortgage Disclosure Act, Christian Corts Named Regional Banking Director For Huntington National Bank, Huntington National Bank Ranks No.

We have substantial implementation of Blend, for example, that has been a ramped up very quickly and will be an important -- a very important app for us as we go forward. HUNTINGTON BANCSHARES INCORPORATED company earnings calendar and analyst expectations - Upcoming and past events | Nasdaq: HBAN | Nasdaq Q3 2022 Earnings Call: 10/21/22 | 08:00am : Q3 2022 Earnings Release: Past dividends on HUNTINGTON BANCSHARES INCORPORATED: 03/17/23 : Quarterly 0.155 USD:

The fourth quarter allowance represents a modest $12 million reserve release from the third quarter.

Our consumer deferrals have largely run their courses well, down to just $66 million as of December with post deferral performance in line with our expectations across all the portfolio segments.

Ken, this is Steve.

So in Q4, as I mentioned in my script, we brought the securities portfolio back up to Q1 levels. That's very helpful.

If you could just kind of comment on the profitability of use versus new vehicle financing that would be helpful. QuoteMedia. Turning to the fourth quarter pre-tax pre-provision earnings increased 6% year-over-year. Jon Arfstrom -- RBC Capital Markets -- Analyst. We expect to post full-year total revenue growth of approximately 1% to 3% and full-year total expense growth of 3% to 5%. And the Street is not going to give us much credit for that earnings anyway, why not pull forward the expenses and have a great first full year in 2022, for both as a stand-alone company and as a combined company.

Thanks, Steve. It is, and as Zach said, particularly on the digital side. Hey, I was hoping you might walk through the sort of the tweak to net charge off guidance from last month.

Huntington one of the U.S.s largest regional banks with $183 billion in assets reported record full-year revenue of $3.2 billion, an 88% increase from the prior year, according to its earnings results, while full-year net income rose 73% to $2.2 billion.

I mean, it certainly seems clear that credit concerns are kind of melting away for the industry, but just sort of over the past six weeks what in your mind has changed to take you from sort of the upper half of the through the cycle range to sort of lowering that band as well?

Thank you. Moving to slide eight. So those were the major things.



Top ranking reflects Huntington's commitment to excellent customer service.

As the economy -- economic recovery progresses we expect continued acceleration of loan growth over the course of the year.

more than 135-year history of advancing U.S. national defense, we are united by our mission in service of the

Thanks to strong production this December as expected.

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Does that value proposition still work?

But generally, we're seeing some decent traction with our commercial customers and the consumer book continues to perform very well. On a linked quarter basis the NIM decreased 2 basis points to 2.94%.

And let me start.

PD=Previous Day.

And it could, as I mentioned, give an opportunity to invest more in securities.

It feels like the -- this is more a testing of the thesis, but expenses up 3% to 5%, it seems like you are very much looking forward in saying, look, this is a year where we may likely have significant reserve release if the economic outlook pans out.

15 minutes unless otherwise indicated (view Huntington Bancshares Market Cap $22B Today's Change (0.98%) $0.15 Current Price $15.38 Price as of February 13, 2023, 4:00 p.m.

We're also seeing momentum.

So I think we've played it -- we are playing it very, very well and we will have consistency of performance with 800 plus average FICOs for the foreseeable future.

Erika Najarian -- Bank of America -- Analyst. Slide 10 highlights the more granular trends in commercial loans, total deposits, salable mortgage originations and debit card spend, as these are key indicators of behavior and economic activity among our customers. We obviously spent a lot of time on those every quarter.

The Huntington logo, Huntington,The Huntington logoHuntington.Welcome. and Huntington Heads Up are federally registered service marks of Huntington Bancshares Incorporated.

Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Slides four and five provides a financial highlights for the full year 2020 and the fourth quarter, respectively. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middlemarket businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Peter. Press Release.

Huntington Ingalls (HII) came out with quarterly earnings of $3.44 per share, missing the Zacks Consensus Estimate of $3.53 per share.

Huntington Bancshares Market Cap $22B Today's Change (1.67%) $0.25 Current Price $15.22 Price as of March 3, 2023, 4:00 p.m. Conference Call / Webcast InformationHuntington's management will host an earnings conference call the same day at 9:00 a.m. Huntington Bancshares Incorporated.

Huntington Bancshares Incorporated. PD=Previous Day.

As a reminder, this conference is being recorded. The recovery in unemployment boosted both the regions consumer confidence and consumer retail spending above the respective 2020 national averages. Along the way, I think, it's -- we sit here and run a very disciplined process every quarter looking at not only the quantitative pieces of it, but the more qualitative pieces. Thank you.

So your commentary on loan pipelines and customer sentiment is favorable.

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Those are really the biggest focus areas that I'll call out for you as a headline.

FTE net interest income increased 6% as earning asset growth more than offset year-over-year growth -- year-over-year NIM compression. 4101 Washington Ave This guidance assumes the positive impact from the acceleration of PPP fees in the first half of the year before settling back down in the second half. Yeah. ET HBAN earnings call

HIIs diverse workforce includes skilled tradespeople; artificial intelligence, So we've got a lot of early on very, very good work that's getting us bullish on the expense side.

The -- my second question is more for Steve.

The Midwest also is a country in year-over-year growth in single family home sales in the third quarter, up 56% compared to 39% for the nation. On the consumer side, we brought our expertise and indirect auto to our RV/Marine business and reduced our exposure to second lien high LTV home equity.

The underlying run rate of all other expenses was relatively flat.

And I think if you look at the base case assumptions, the November base case assumptions going back to 12:31 where we snapped the chalk here. The bank reported $0.43 EPS for the quarter, beating analysts consensus estimates of $0.41 by $0.02. We have momentum, the disciplined execution of our strategies coupled with the pending acquisition set us up to capitalize on emerging opportunities to innovate, to gain share and to position the company for growth for years to come, all while continuing to deliver top quartile financial performance. We are one of the few banks that talked about commercial loan growth, and our pipeline year-over-year is better in a COVID environment than it was in a pre-COVID environment.

Now that is a possible scenario, but that's not a planned scenario [Indecipherable]. On the securities side, I wanted to see if you can give us a bit of color around what you're putting money into? For the year, we grew revenues 3%, loans 6% and core deposits 11%.

Is it as simple as if we get the stimulus and this January Moody's holds, we get some improvement in February.

Slide 15 provides a snapshot of key credit quality metrics for the quarter.

While a number of variables within the baseline economic scenario has improved as that many of our credit metrics for the quarter, there were still many uncertainties to deal with at December 31. I'll take that.

The call may be accessed via dial-in (877) 407-8029 conference ID #13737064.

It's not where -- it's not normalized and it will probably several quarters before it becomes normalize. It's just a question of the timing and where they come down to.

As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. And then, we'll assess the TCF partners as we move forward. On January 20, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.62 annualized). In order to achieve this, we've taken actions to sustain net interest income growth, some of which as previously discussed will also help us manage our NIM around current levels for the foreseeable future.

I think one of the things we're watching pretty closely is also the salable spreads and where that trends. Further 44% of all manufacturing jobs created during this period occurred in our footprint states.

It's our best performing asset class year in, year out on DFAST as an example.

But any way you can quantify maybe a range for potential revenue synergies?

Download the investor presentation - earnings call The Huntington National Bank is an Equal Housing Lender and Member FDIC.

ET .

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And therefore, we've accelerated our existing digital plans substantially to try and continue to get -- stay in front, get in front and maintain that JD Power leading position that we've had for a couple of years.

The Huntington logo, Huntington,The Huntington logoHuntington.Welcome. and Huntington Heads Up are federally registered service marks of Huntington Bancshares Incorporated.

So this will come back we believe probably at this point, by the -- in the second half as opposed to earlier and some of the importers, in particular, are feeling constrained on the supply side.

I think we're taking about 10 days off at the close as a result of using that as an example. So we're incredibly bullish about that.

It's almost a tale of two worlds, Steve. So all of that is to say that there is a tailwind building for the industry. About HuntingtonHuntington Bancshares Incorporated (Nasdaq: HBAN) is a $183 billion asset regional bank holding company headquartered in Columbus, Ohio.

I think I mentioned in the prepared remarks, I'll just restate it for clarity, we're assuming 85% of the $6 billion that we had on sheet in Q4 to be forgiven in the first half of the year.

Over the last few weeks, open-air shopping center REITs hosted their quarterly earnings calls to discuss Q4 earnings, highlight 2022 overall performance, and issue guidance on expectations for 2023. In the tech side, we're just continuing to lean in our digital.

Our next question comes from the line of Steven Alexopoulos with JP Morgan. For the fourth quarter, we reported earnings per common share of $0.27. Huntington Ingalls (HII) came out with quarterly earnings of $3.07 per share, missing the Zacks Consensus Estimate of $3.14 per share.

All right.

But that's kind of where we're running with those. I mean, the stimulus is still up in the air, all those other types of things, we just thought it was premature to have a significant release. For my guidance I've assumed around $1 billion, but I'm hopeful and it's quite likely that it could be potentially up to double that we'll see.

And so store traffic up, the volumes are up and revenues are up, traffic is down. We expect the remaining mortgage deferrals will continue to work their way down to a de minimis level over the next quarter.

Huntington Bancshares Inc. (NASDAQ:HBAN) Q4 2022 Results Conference Call January 20, 2023 9:00 AM ET.

On your net interest margin outlook, I appreciate the color you gave for relative stability for the full year margin versus 2020.

So we really like the revenue side of this, and you'll see that reflected in '22 and beyond as we get set. In Q4, we had four new NPAs over $5 million and just one over $15 million, all COVID related.



Any thoughts there?

The other NIM drivers shown on the slide essentially offset each other to keep the NIM stable to slightly higher, consistent with the expectations we provided in our last quarter's earnings call.

delay times for all exchanges).

This is the first time Huntington As we enter the first quarter, our commercial pipelines also are up from a year ago.

The call, along with slides, may be accessed via a live Internet webcast in the Investor Relations section of Huntington's website or through a dial-in telephone number at (877) 407-8029 conference ID #13737064. So it's not just mortgage, so we're not dependent wholly on mortgage refi. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Thanks, Zach.

I think that's what you were getting to this supply demand potential imbalances as we come back out COVID, but there could exist right now. So we're entering. We are pleased with our 2020 results and continued momentum across the bank, despite an extraordinarily challenging operating environment. We had a lot of charge-off activity in 2020. Now having said that, we see very, very strong performance in the TCF in-stores which are in even denser metropolitan areas than we have with our two partners. Hey, good morning, everyone.

We reduced our commercial real estate portfolio from over 200% of capital to under 80% and curtailed construction lending such that the fourth quarter represented the lowest level of construction in terms of both absolute dollars and as a percentage of capital that we've had since the FirstMerit acquisition in 2016.

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Turning to slide seven. The non-core portion of this portfolio has been reduced to just $243 million. [Operator Instructions]. And your plan is to lean in on the investment is pretty heavy earlier in the year and capture more of that in the back half? The V shaped manufacture recovery is fueling regional economic growth, even though many manufacturers continue to face challenges from supply chain disruptions, skilled labor shortages and periodic plant shutdowns related to the virus. Our next question comes from the line of Ken Usdin with Jefferies.

Please proceed with your question.

Steven Alexopoulos -- JP Morgan -- Analyst.

With respect to deposits, we expect average balance sheet growth of 5% to 7% due to the elevated levels of commercial and consumer core deposits, which we expect to persist for several more quarters.

ET Contents: Prepared Remarks Questions and Answers Call Annual pre-tax pre-provision earnings growth was 4% for 2020.

Got it.

And then the second question is on the consumer loan side.

In that regard, we have many customers that are a very liquid. Average earning assets increased $12 billion or 12% compared to the year ago quarter, driven by $6 billion of PPP loans and $5 billion increase in the aforementioned deposits at the Federal Reserve. Headquartered in Virginia, HIIs workforce is 43,000 strong.



Data delayed

Is this an investment of more people, systems, customer friendly products?

We approach this with a strong foundation of enterprise risk management as you know, including the deeply embedded stock ownership mentality, which aligns our Board, management and colleagues. And I think that flows then through the system with lower cum losses.

From endpoint to endpoint, Q3 to Q4, to give you a sense, it was about $2 million of additional securities on a net basis. The remaining underlying run rate of non-investment expenses is essentially flat. I was wondering you gave -- Good morning.

Thank you. Please proceed with your question. Thanks, Mark.

Thank you guys very much. So feel good about it and that's the trajectory and competition of it.

RV/Marine, you had some pretty strong growth and maybe some of that is COVID related last year. There will -- there is a lot of investment activity that's going on. Terms of Use. These inventory challenges are visible in the auto, RV and marine industries and inform our belief that continued low dealer floor plan utilization rates to take at least several more quarters to return to longer term averages. 15 minutes unless otherwise indicated (view



, Community Reinvestment Act Home Mortgage Disclosure Act, https://www.prnewswire.com/news-releases/huntington-bancshares-incorporated-to-announce-2022-fourth-quarter-earnings-and-hold-earnings-conference-call-january-20-2023-301707946.html. And so there was a fair amount of qualitative judgment that we put into the process, like we do every quarter to land at the $229 million.

So we'll -- we are -- we like the -- we'd like to channel over time and continue to like aspects of it and we're committed to going forward to Giant Eagle for the next several years.

Year end delinquency is better than a year ago. Look, this question of elevated liquidity and how long it will stay is sort of the $54,000 question, but we're fairly convinced it's going to stay for a while, and it will likely go up frankly in the near term given some of the new things that are coming through. 1 In Customer Satisfaction In The North Central Region In The J.d. Rich, if you don't mind, I'll add to that, Scott. Peter Winter -- Wedbush Securities -- Analyst.

This was due to the foundation we've been laying for a decade now.

And on the call, they actually made kind of a compelling case for why store branches kind of just don't make a lot of sense anymore.

Newport News, VA 23607. Okay.
The Huntington National Bank is an Equal Housing Lender and Member FDIC. Welcome.

A telephone replay will be available approximately two hours after the completion of the call through Saturday, January 28, 2023, at (877) 660-6853 or (201) 612-7415; conference ID #13734972.

Consumer lending continues to produce steady growth with residential mortgage, RV/Marine and indirect auto, all posting year-over-year growth.

Over 2.9 million jobs were created in our footprint between April and November, which means 24% of the national total were created in these seven states. Erika, I don't believe the losses are materially delayed in our case.

Our next question comes from the line of Scott Siefers with Piper Sandler.

And just longer term thinking about asset values there? And then if that person has additional questions, he or she can add themselves back into the queue. Company Participants.

Copies of the slides we'll be reviewing can be found on the Investor Relations section of our website, www.huntington.com. And those are just a few of the businesses and opportunities, there is a substantial outsourcing as well, both on the capital market side for most products. The -- we've been well served by the in-store branches in the past. Our credit performance overall was solid, net charge-offs represented an annualized 55 basis points of average loans and leases.

delay times for all exchanges).

We have a much broader product menu on both the consumer business side.