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# Huntington Bancshares Reports Q3 2024 Net Income of $517 Million with Expanding NII and Deposit Growth
- URL: https://www.theglobalbanker.com/huntington-bancshares-q3-2024-net-income-517-million-expanding-nii-deposit-growth/
- Published: 2024-10-17T14:51:00.000Z
- Updated: 2026-10-02T15:12:10.000Z
- Description: Huntington Bancshares posted Q3 2024 net income of $517 million and ROTCE of 16.2% as net interest income grew 3% sequentially and average deposits rose by $2.9 billion.
- Author: TGB Editorial Team
- Tags: Banking News, Americas, #archive

Huntington Bancshares reported third-quarter 2024 net income of $517 million, or $0.33 per diluted share, on 17 October 2024\. Return on average tangible common equity was 16.2%.

Net interest income rose 3% quarter-on-quarter to $1.35 billion. Fee income expanded 7% sequentially and 3% year-on-year, while management said it was actively executing its down-rate action plans.

#### DEPOSITS AND FEE INCOME

Average deposits expanded by $2.9 billion on a sequential quarter basis. 

The 7% sequential rise in noninterest income to $523 million was driven by a 27% increase in mortgage banking income, a 7% rise in capital markets and advisory fees and a $5 million increase in gains on sale of loans. Management said it was pleased with a very strong performance in its value-added fee businesses.

#### CREDIT QUALITY

Net charge-offs for the quarter stood at 0.30% of average loans, broadly in line with 0.29% in the prior quarter, which management described as stable net charge-offs. The non-performing asset ratio was 0.62%, edging down from 0.63% in the prior quarter, whilst the allowance for credit losses stood at $2.4 billion, equivalent to 1.93% of total loans.