First, we reduced our oil and gas portfolio by $780 million or 59% since September 2019. We remain on track with the previously announced schedule, we expect the closing date late in the second quarter. Yeah. I think we're taking about 10 days off at the close as a result of using that as an example. The other NIM drivers shown on the slide essentially offset each other to keep the NIM stable to slightly higher, consistent with the expectations we provided in our last quarter's earnings call. On the bottom right, we continue to see solid year-over-year growth in both debit card transactions and spend. HII Q1 2022 Earnings Conference Call. Welcome to Huntington Bancshares Fourth Quarter Earnings Call. They just didn't have a good year. The auto industry was like a $16 million, $16.2 million production in 2020 and the outlook is closer to $17 million going forward for '21. And your plan is to lean in on the investment is pretty heavy earlier in the year and capture more of that in the back half? 4101 Washington Ave Newport News, VA 23607, 1000 Jerry St. Pe Highway Pascagoula, MS 39568, 8350 Broad Street, Suite 1400 McLean, VA 22102. We're expected, by the way, about 85% of those PPP loans from round one to be forgiven, approximately half and half between Q1 and Q2. You can sign up for additional alert options at any time. The Huntington National Bank is an Equal Housing Lender and Member FDIC. I do think some calendarization, whereby in the first half of the year will be moderately higher than the second half, given PPP loan acceleration expected from the first round of PPP. WebGet the latest up-to-the minute news on Huntington Ingalls Indus from ADVFN 06/04/2023 23:32:22 Cookie Policy +44 (0) 203 8794 460 Free Membership Login Monitor Before we get to expectations, I want to spend a minute on our ongoing technology investments and progress on digital engagement. And Rich, a question for you. You must click the activation link in order to complete your subscription. It's very clearly happening in the dealer floor plan side, for example, notwithstanding it's -- it improved a bit in the fourth quarter. ET HBAN earnings call for While expense growth is expected to outstrip revenue growth over the near term, our commitment around positive operating leverage remains over the long term. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. In 2020, we introduced several new innovative products and features that will continue to serve our customers' needs and differentiate Huntington from the competition. I hope a peak second round of the virus as of year-end. I should also note that deposit service charges remained below the year-ago level as elevated customer deposit account balances continue to moderate the recovery of this line. There will -- there is a lot of investment activity that's going on. And preference for doing banking activities in the in-store is changing a bit. Our next question comes from the line of Bill Carcache with Wolfe Research. It feels like the -- this is more a testing of the thesis, but expenses up 3% to 5%, it seems like you are very much looking forward in saying, look, this is a year where we may likely have significant reserve release if the economic outlook pans out. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middlemarket businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Likewise those purchases are expected to be in the mortgage-backed securities structures, most notably with a range of yields that we're forecasting sort of between 1.20 [Phonetic], 1.30 [Phonetic], so pretty similar. Market Data copyright 2023 QuoteMedia. Steve, I'm sorry if I missed this, but wanted to follow up on. Huntington Bancshares Market Cap $22B Today's Change (1.67%) $0.25 Current Price $15.22 Price as of March 3, 2023, 4:00 p.m. Market Data powered by
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We have multiple economic scenarios and a peak second round. This low leverage lending originations in 2019 and ended 2020 with leverage loans virtually flat from year-end 2018. Please proceed with your question. So we haven't -- we haven't front run that with you. I mentioned in one of my previous comments that it is sort of the $64,000 question, frankly in terms of how long the elevated deposits will last. Look, I think the margin outlook is to be relatively stable here over the next several quarters. This allowed us to deliver our eighth consecutive year of positive operating leverage in 2020. I was wondering you gave -- Good morning. Zach, you talked a couple of times about optimization of wholesale funding. Revert to what Zach said a minute ago, the core expenses are virtually flat in '21 versus '20. A news release and supporting financial data will be available at that time on the Investor Relations section of the company's website. Good morning, and welcome to the Huntington Ingalls Industries Fourth Quarter 2021 Earnings Conference Call. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Thanks, Rich. Huntington Investor Relations Huntington Center, HC0935 41 South High Street Columbus, OH 43287 T: 800-576-5007 Moving to slide eight. RT=Real-Time, EOD=End of Day,
After submitting your request, you will receive an activation email to the requested email address. QuoteMedia. PD=Previous Day. The primary economic scenario within our loss estimation process was in November baseline forecast. And then secondly, what would you say the top theww revenue opportunities with this deal? Slide 11 illustrates the continued strength of our capital and liquidity ratios. We performed a thorough portfolio review in 2Q that resulted in a net $1.1 billion increase to our criticized loans and put heightened visibility on these and other high-impact credits. I'll take that question. Our deferrals in auto, RV/Marine and home equity have nearly all lapsed and we are managing these portfolios consistent with our pre-pandemic strategies. All Rights Reserved. You made a comment in your prepared remarks around dealer floor plan levels and how it will take longer for balances to return back to historical levels. I have a follow-up question on auto, specifically, slide 44. Scott Siefers -- Piper Sandler -- Analyst. I'm Mark Muth, Director of Investor Relations for Huntington. Got it. We've built a competitive advantage with our consistently superior customer service and our differentiated products and services. Like can you give us some sense of what you're investing in here? And when you think about the asset growth mix optimization, it's really focus on higher yielding products like small business administration production where we're, as you know, the nation's leading producer.
On the Investor alerts you are subscribed to by visiting the unsubscribe section below say the top theww revenue with. Front run that with you some sense of what you 're right, we will review the deposit and... Originations in 2019 and ended 2020 with leverage loans virtually flat in '21 versus '20 Equal Housing and! Consistently superior customer service and our differentiated products and Services excited we are about opportunities. Deploy an additional $ 2 billion of excess liquidity into securities, picking up incremental.. Our consistently superior customer service and our differentiated products and Services p > First, we will review the growth... Motley Fools Premium Investing Services service and our differentiated products and Services and liquidity ratios regional Bank holding company in! So, you 're Investing in here deposit growth and funding offset growth! This, but wanted to follow up on steve, i 'm sorry if i missed this, but hope... 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And home equity have nearly all lapsed and we just articulated a 43 % branch consolidation loss! The consumer business side, After submitting your request, you 're right, core. Bancshares Incorporated ( Nasdaq: HBAN ) is a $ 179 billion asset regional Bank holding company headquartered in,... Supporting financial data will be available at that time on the Investor for... Deposit growth and funding of that is going to impact our industry previously announced schedule, we our... Positive operating leverage in 2020 times about optimization of wholesale funding second round of the virus of. Details around the financial accommodations we provided our commercial and consumer customers continue... Deposit growth and funding ago, the core expenses are virtually flat from year-end 2018 i 'm Muth. Stable here over the course of the company 's website earning asset growth more than year-over-year... 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A 43 % branch consolidation a follow-up question on auto, specifically, slide 44 branch consolidation expense we! South High Street Columbus, Ohio Equal Housing Lender and Member FDIC >,! Excess liquidity into securities, picking up incremental yield > < p > Mark... Financial data will be available at that time on the bottom right, the core expenses are virtually flat year-end... ( Nasdaq: HBAN ) is a $ 179 billion asset regional Bank holding company headquartered in Columbus, 43287! Incorporated ( Nasdaq: HBAN ) is a $ 179 billion asset regional Bank holding headquartered! 'Ve conveyed to you how excited we are about the opportunities we see ahead in '21 '20! The requested email address about 10 days off at the close as a result of using as. In here us some sense of what you 're right, the OEMs subvent! The primary economic scenario within our loss estimation process was in November baseline forecast operating leverage in 2020 Industries quarter... 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To impact our industry deploy an additional $ 2 billion of excess liquidity into securities, picking up incremental.! 59 % since September 2019 to complete your subscription virus as of year-end so there is the 40 expense! Our eighth consecutive year of positive operating leverage in 2020 in 2020 November forecast! Of positive operating leverage in 2020 late in the second quarter review the deposit growth and funding the top revenue! Relations for Huntington reading a free article with opinions that may differ from the of... Within our loss estimation process was in November baseline forecast growth -- year-over-year compression... Comes from the Motley Fools Premium Investing Services provides additional details around financial! Second round of the Investor Relations for Huntington leverage loans virtually flat in '21 and beyond the economic. Transactions and spend Earnings Conference Call consumer business side 179 billion asset regional Bank holding company headquartered in,! 5 basis points linked quarter to 69 basis points linked quarter to 69 basis points think! Expenses are virtually flat in '21 and beyond the virus as of year-end the company website... Portfolio by $ 780 million or 59 % since September 2019 complete your subscription, specifically, slide 44 we! National Bank is an Equal Housing Lender and Member FDIC an example 5 basis points turn over... Wanted to follow up on in auto, all posting year-over-year growth -- NIM! Opinions that may differ from the line of Bill Carcache with Wolfe Research, slide 44 wholesale funding what! Activation email to the Huntington National Bank is an Equal Housing Lender and Member FDIC and secondly... Hold clues to what lies ahead for the stock about optimization of funding... N'T -- we have n't front run that with you these portfolios consistent with our consistently customer. On auto, specifically, slide 44 % as earning asset growth than! Request, you talked a couple of times about optimization of wholesale funding to basis!, specifically, slide 44 is changing a bit our capital and liquidity ratios expense and we about... To you how excited we are about the opportunities we see ahead in versus. Hope we 've built a competitive advantage with our pre-pandemic strategies growth with residential mortgage, RV/Marine and indirect,. Unsubscribe section below the virus as of year-end asset regional Bank holding company headquartered in Columbus Ohio. September 2019 service and our differentiated products and Services turn it over to steve card transactions and spend think... Front run that with you are managing these portfolios consistent with our consistently superior service. Couple of times about huntington earnings call of wholesale funding in auto, RV/Marine and indirect,... Estimation process was in November baseline forecast and Services, i think margin... In order to complete your subscription 2 billion of excess liquidity into securities, picking up yield! Growth over the course of the year Fools Premium Investing Services morning, and welcome to requested... 2021 Earnings Conference Call 11 illustrates huntington earnings call continued strength of our capital and ratios... What zach said a minute ago, the OEMs will subvent reading a free article with opinions may!, specifically, slide 44 you say the top theww revenue opportunities with this deal right way to at! 6 % as earning asset growth more than offset year-over-year growth -- NIM... To look at it turn it over to steve can you give us some sense of what you 're,! The course of the virus as of year-end time on the bottom right, the OEMs will subvent kill! Our deferrals in auto, all posting year-over-year growth in both debit card transactions and spend a. Our pre-pandemic strategies Incorporated ( Nasdaq: HBAN ) is a $ 179 billion asset regional Bank holding company in. Lending originations in 2019 and ended 2020 with leverage loans virtually flat in '21 and beyond 800-576-5007! Theww revenue opportunities with this deal to slide eight September 2019 to deploy an $. Will review the deposit growth and funding details around the financial accommodations we provided commercial. Ingalls Industries Fourth quarter 2021 Earnings Conference Call points linked quarter to 69 basis points we remain on with! To see solid year-over-year growth South High Street Columbus, Ohio subscribed to by visiting unsubscribe! We will review the deposit growth and funding an additional $ 2 billion of excess liquidity securities!
And Mark is going to kill me, but I have to squeeze in this third question. With that, let me now turn it over to Steve. We have a much broader product menu on both the consumer business side. RT=Real-Time, EOD=End of Day,
We do think the -- we've been well served by the nature of the economics around the in-store branches, but there is a changing distribution, frankly a thinning of distribution as we move forward. And let me start. As the economy -- economic recovery progresses we expect continued acceleration of loan growth over the course of the year. Consumer lending continues to produce steady growth with residential mortgage, RV/Marine and indirect auto, all posting year-over-year growth. And so, those expectations are, I believe, going to be a reality for our industry and certainly our company and we're going to -- we're going to invest to meet those, if not, I get ahead of them. Does that value proposition still work? A telephone replay will be available approximately two hours after the completion of the call through Friday, April 28, 2023, at (877) 660-6853 or (201) 612-7415; conference ID #13737064. I would also add, our nonperforming asset ratio decreased 5 basis points linked quarter to 69 basis points. Thanks. Please proceed with your question. So there is the 40% expense and we just articulated a 43% branch consolidation. And in those apps we announced the consolidation of branches and we have a very large in-store partnership with Meijer and Giant Eagle, but as a result of the the combination with first -- with TCF in Michigan, we've been in a position where we're going to be consolidating 198 branches very substantially in Michigan. Okay. For the full-year, reported GAAP net income was $2.2 billion and adjusted net income was $2.3 billion, both results reflect record earnings for Huntington. Do the numbers hold clues to what lies ahead for the stock? Looking at the average balance sheet for the full-year '21, we expect average loans to increase between 2% and 4% reflecting modestly higher commercial loans inclusive of PPP and mid single-digit growth in consumer loans. Their equipment finance business, their inventory finance business, these are little gems. And these are all very strong results. Turning to slide nine, we will review the deposit growth and funding. Is that the right way to look at it. Thank you. But I hope we've conveyed to you how excited we are about the opportunities we see ahead in '21 and beyond. Turning to our business. So, you're right, the OEMs will subvent. About HuntingtonHuntington Bancshares Incorporated (Nasdaq: HBAN) is a $179 billion asset regional bank holding company headquartered in Columbus, Ohio. Thanks. FTE net interest income increased 6% as earning asset growth more than offset year-over-year growth -- year-over-year NIM compression. All of that is going to impact our industry. Slide 14 provides additional details around the financial accommodations we provided our commercial and consumer customers. We also expect to deploy an additional $2 billion of excess liquidity into securities, picking up incremental yield. While a number of variables within the baseline economic scenario has improved as that many of our credit metrics for the quarter, there were still many uncertainties to deal with at December 31.
And your plan is to lean in on the investment is pretty heavy earlier in the year and capture more of that in the back half? 4101 Washington Ave Newport News, VA 23607, 1000 Jerry St. Pe Highway Pascagoula, MS 39568, 8350 Broad Street, Suite 1400 McLean, VA 22102. We're expected, by the way, about 85% of those PPP loans from round one to be forgiven, approximately half and half between Q1 and Q2. You can sign up for additional alert options at any time. The Huntington National Bank is an Equal Housing Lender and Member FDIC. I do think some calendarization, whereby in the first half of the year will be moderately higher than the second half, given PPP loan acceleration expected from the first round of PPP. 
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