Huntington Bancshares reported first-quarter 2025 net income of $527 million, or $0.34 per diluted share, a 26% increase on the same period a year earlier, as growth in net interest income and fee revenue drove pre-provision net revenue 24% higher year-on-year.
Return on tangible common equity for the quarter reached 16.7%. Chief executive Steve Steinour said the results were driven by increased loans and deposits, an expanded net interest margin, growth of fee revenues and rigorous expense management. The CET1 ratio stood at 10.6% at 31 March 2025.
NET INTEREST INCOME AND FEES
Net interest income rose 11% year-on-year to $1.43 billion in the first quarter, while the net interest margin expanded to 3.1%, reflecting a lower cost of funding, the impact of hedging and higher interest recoveries.
Fee revenues also contributed positively to the quarter's performance, with payments and wealth management both registering year-on-year growth. The bank said the expansion in these business lines reflected deliberate investment in capabilities and client relationships made over the preceding several years, which were now translating into recurring non-interest income streams that provide a degree of insulation from the interest rate environment.
SHARE REPURCHASE
Huntington announced alongside the first-quarter results that its board had approved a share repurchase authorisation of up to $1 billion.
Huntington Bancshares operates across a Midwest-centred footprint of 13 states, with expansion into the Carolinas and Texas.