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Huntington Bancshares (HBAN) FY2025 results: revenue $8.2 billion, up 10.6% on the year

Huntington Bancshares Inc. (HBAN) reported revenue of $8.2 billion for fiscal 2025, the year ended 31 December 2025, up 10.6% on the year before. Net income was $2.2 billion, up 14.0%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2026.

Revenue
$8.2 billion
+10.6% on the year
FY2018FY2025
Operating margin
n/a
FY2018FY2025
Net income
$2.2 billion
+14.0% on the year
FY2018FY2025
Diluted EPS
$1.39
+13.9% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

  • Net income and EPS declined: Net income was $519 million, or $0.30 per common share, down 17% from the prior quarter. Notable items of $130 million pre-tax, mainly acquisition-related expenses, were included.
  • Adjusted EPS of $0.37: Adjusted EPS, excluding after-tax notable items, was $0.37: down $0.03 from the prior quarter and up $0.03 from the year-ago quarter.
  • Average loans rose 8% sequentially: Average total loans and leases were $146.6 billion, up 8% from the prior quarter and 14% from a year ago, including the Veritex acquisition.
  • Net interest margin rose to 3.15%: Net interest margin was 3.15%, up 2 basis points sequentially and 12 basis points year over year. Lower funding costs were partly offset by lower asset yields and net hedging.
  • Net charge-offs eased year over year: Net charge-offs were $89 million, or 0.24% of average loans, up from 0.22% in the prior quarter and down from 0.30% a year earlier. Commercial and consumer NCOs were 0.18% and 0.33%.
Read the Q4 FY2025 earnings call summary

From this 10-K

Huntington is a multi-state regional bank holding company, organised under Maryland law in 1966 and run from Columbus, Ohio, whose bank has been serving customers since 1866. It got considerably larger in the space of four months: it operated more than 1,000 branches in 14 states at the end of 2025, and nearly 1,400 branches in 21 states after its merger with Cadence Bank completed on 1 February 2026.

Huntington Bancshares Inc., the 10-K for 2025

Huntington is a multi-state regional bank holding company, organised under Maryland law in 1966 and run from Columbus, Ohio, whose bank has been serving customers since 1866. It got considerably larger in the space of four months: it operated more than 1,000 branches in 14 states at the end of 2025, and nearly 1,400 branches in 21 states after its merger with Cadence Bank completed on 1 February 2026.

What it does

Full-service commercial and consumer deposits and lending, and a long list of things beyond that: payments, mortgage banking, direct and indirect consumer financing, investment banking, capital markets, advisory work, equipment financing, distribution finance, investment management, trust, brokerage and insurance.

The two segments

Consumer & Regional Banking sells to consumers and businesses: deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage and insurance. It reaches them through regional banking channels and national specialty finance channels, which means branches and cash machines alongside online and mobile banking.

Commercial Banking targets clients from mid-market up to large corporates, across a national footprint rather than a regional one, and leans on the rest of the group for wealth management, trust, insurance, payments and treasury management. The filing singles out payments as the capability it is expanding, naming Huntington ChoicePay among the products built for particular client segments.

Two acquisitions, four months apart

On 20 October 2025 Huntington completed its acquisition of Veritex Holdings, a bank holding company based in Dallas. Veritex merged into Huntington and Veritex Community Bank merged into Huntington National Bank. The transaction was valued at $1.7 billion and brought in $12.0 billion of assets, including $9.3 billion of loans, and $10.5 billion of deposits as at the acquisition date.

On 1 February 2026 it completed the acquisition of Cadence Bank, a regional bank based in Houston, Texas and Tupelo, Mississippi, which merged into Huntington National Bank. It was an all-stock deal: 2.475 Huntington shares for each Cadence share, which on Huntington's closing price of $17.48 on 30 January 2026 valued the consideration at roughly $8.1 billion. Cadence's own 5.50% Series A preferred stock converted into a newly created Huntington 5.50% Series L preferred, at one thousandth of a share for each. At the end of 2025 Cadence held $54 billion of assets, including $37 billion of loans, and $44 billion of deposits.

Read together, the two deals move the bank from the Midwest into Texas and the South in a little over a quarter, and Cadence is by far the larger of the two.

How it is organised

The business segments follow the company's own internal leadership structure, which is how management watches results and judges performance, rather than a structure imposed for reporting.

From Huntington's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 13 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue8,1667,3857,360+10.6%
Interest expensen/an/a3,477
Pre-tax income2,6882,4032,384+11.9%
Income tax459443413+3.6%
Effective tax rate17.1%18.4%17.3%
Net income2,2111,9401,951+14.0%
Net margin27.1%26.3%26.5%
Diluted EPS$1.39$1.22$1.24+13.9%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow2,4821,8362,657+35.2%
Capital expenditure267143140+86.7%
Free cash flow2,2151,6932,517+30.8%
Cash from investing-6,347-12,119-2,997
Cash from financing4,51313,0223,765-65.3%
Depreciation and amortisation762622798+22.5%
Share-based compensation11310697.0+6.6%
Buybacksn/an/a0.0
Dividends paid908903900+0.6%
Dividend per share$0.62$0.62$0.620.0%
Diluted shares, weighted1,505m1,476m1,468m+1.9%
Shares outstanding at period end1,568m1,454m1,448m+7.8%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity24,34219,74019,353+23.3%
Non-controlling interest37.042.045.0-11.9%
Deposits176,610162,448151,230+8.7%
Debt18,48216,57313,014+11.5%
Other liabilities5,6355,4275,726+3.8%
Total liabilities and equity225,106204,230189,368+10.2%
Fixed assets1,3211,0661,109+23.9%
Goodwill5,9975,5615,561+7.8%
Intangible assets14596.0143+51.0%
Securities held for sale or to maturity41,39043,64141,055-5.2%
Loans147,105127,798119,727+15.1%
Cash and equivalents13,49512,84710,129+5.0%
Other assets15,65313,22111,644+18.4%
Total assets225,106204,230189,368+10.2%

10-K for the year ended 31 December 2025, filed 13 February 2026: the filing.