Huntington Bancshares quarterly profit rises on interest income strength
HBAN
Published on 04/23/2026 at 09:55 am EDT
April 23 (Reuters) - Huntington Bancshares reported a rise in its first-quarter adjusted profit on Thursday, aided by a strong income from interests.
The U.S. Federal Reserve's rate cuts in the second half of 2025 helped banks lower deposit costs and revive loan demand, resulting in relatively stable borrowings for Huntington during the quarter despite broader macroeconomic pressures.
Huntington's $7.4 billion acquisition of smaller rival Cadence Bank, which closed in early February, also likely helped boost the company's yearly net interest income.
The lender's net interest income (NII) -- the difference between what the bank earns on loans and pays out on deposits -- rose 33% to $1.89 billion from a year earlier. The bank had previously forecast a record NII in 2026.
"Our core is performing very well, our credit remains strong, and we are driving toward our committed expense and revenue synergies from our Veritex and Cadence partnerships," CEO Steve Steinour said in a statement.
Huntington agreed in July 2025 to buy smaller Texas-based rival Veritex Holdings in an all-stock deal valued at $1.9 billion, aiming to expand its footprint in a state that is emerging as a major financial hub.
Its average loans and leases increased to $174.22 billion, or 33%, from a year earlier, Huntington said. Average total deposits rose to $204.62 billion from $161.60 billion.
The bank reported an adjusted net income of $739 million, or 37 cents per share, in the three months ended March 31, compared with $529 million, or 34 cents per share, a year earlier.
Shares of the company, which have lost about 3% in 2026 and underperformed the broader markets, were up marginally in trading before the bell.
Huntington's board of directors approved a $3 billion share repurchase program on April 22, replacing the prior authorization.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shreya Biswas and Shinjini Ganguli)