HBANLHIGH SIGNALOPERATIONAL10-K

Huntington completed major acquisitions including Cadence Bank and Veritex Holdings, dramatically expanding from 978 branches in 12 states to nearly 1,400 branches in 21 states while outstanding shares increased to over 2 billion.

This represents a transformational expansion that fundamentally changes Huntington's scale and geographic footprint, positioning it as a significantly larger regional banking franchise. The substantial increase in share count reflects the equity consideration paid for these acquisitions, which investors should monitor for successful integration and realization of projected synergies.

Comparing 2026-02-13 vs 2025-02-14View on EDGAR →
FINANCIAL ANALYSIS

The financial profile reflects a bank emerging from a challenging credit environment with provision for credit losses declining dramatically from $1.0B to $25.0M, contributing to solid net income growth to $2.2B. Operating fundamentals strengthened with operating cash flow expanding meaningfully to $2.5B, while the balance sheet grew substantially with total assets reaching $225.1B and cash reserves increasing to $2.7B. The increased capital expenditures and dividend payments align with the enlarged entity's investment needs and improved earnings capacity.

FINANCIAL STATEMENT CHANGES
Provision for Credit Losses
P&L
-97.6%
$1.0B→$25.0M

Provisions reduced 97.6% — improving credit quality or reserve release boosting reported earnings.

Capital Expenditure
Cash Flow
+86.7%
$143.0M→$267.0M

Capital expenditure jumped 86.7% — major investment cycle underway; assess returns on deployment.

Dividends Paid
Cash Flow
+83.3%
$92.4M→$169.3M

Dividend payments increased 83.3% — management confidence in sustained cash generation.

Cash & Equivalents
Balance Sheet
+75.8%
$1.5B→$2.7B

Cash position surged 75.8% — strong cash generation or capital raise providing significant financial cushion.

Operating Cash Flow
Cash Flow
+36.7%
$1.8B→$2.5B

Operating cash flow surged 36.7% — exceptional cash generation, highest quality earnings signal.

Stockholders Equity
Balance Sheet
+23.3%
$19.7B→$24.3B

Equity base grew 23.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Net Income
P&L
+14%
$1.9B→$2.2B

Net income grew 14% — bottom-line growth signals improving overall business health.

Total Assets
Balance Sheet
+10.2%
$204.2B→$225.1B

Asset base grew 10.2% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-02-13
PRIOR — 2025-02-14
ADDED
As of February 1, 2026, there were 2,029,792,391 shares of common stock with a par value of $0.01 outstanding.
Business 7 Competition 9 Regulatory Matters 11 Corporate Responsibility 24 Available Information 27 Item 1A.
Management s Discussion and Analysis of Financial Condition and Results of Operations 51 Introduction 51 Executive Overview 51 Discussion of Results of Operations 55 Risk Management: 61 Credit Risk 63 Market Risk 76 Liquidity Risk 79 Operational Risk 86 Compliance Risk 87 Capital 87 Business Segment Discussion 90 Additional Disclosures 93 Item 7A.
As of December 31, 2025, we operated more than 1,000 branches in 14 states.
Following the completion of our merger with Cadence Bank on February 1, 2026, as further discussed below, we operate nearly 1,400 branches in 21 states, with certain businesses operating in extended geographies.
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REMOVED
As of January 31, 2025, there were 1,453,758,267 shares of common stock with a par value of $0.01 outstanding.
Business 8 C ompetition 10 R egulatory Matters 11 C orporate Responsib ility 23 A vailable Information 27 Item 1A.
Management s Discussion and Analysis of Financial Condition and Results of Operations 45 Introduction 46 Executive Overview 46 Discussion of Results of Operations 50 Risk Management : 55 Credit Risk 58 Market Risk 70 Liquidity Risk 74 Operational Risk 79 Compliance Risk 80 Capital 80 Business Segment Discussion 83 Additional Disclosures 86 Item 7A.
As of December 31, 2024, our 978 full-service branches and private client group offices are located in Ohio, Colorado, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, North Carolina, Pennsylvania, West Virginia, and Wisconsin.
We also maintain a local banking presence in South Carolina and Texas, along with conducting select financial services and other activities in other states.
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