Huntington Bancshares reported strong financial performance for the fourth quarter of 2024, driven by record fees, loan growth, and deposit growth. The company achieved earnings per share (EPS) of $0.34, up $0.01 from the prior quarter and $0.19 year-over-year. Net income was $530 million, reflecting growth of $13 million quarter-over-quarter and $287 million year-over-year.

Key highlights include:
- Net interest income rose by 6% year-over-year to $1.4 billion, supported by an 8% increase in average earning assets.
- Noninterest income grew 38% year-over-year to $559 million, driven by increases in capital markets and advisory fees, as well as payments and cash management revenue.
- Average total loans and leases grew 6% year-over-year to $128.2 billion, with significant growth in commercial and industrial loans and automobile loans.
- Average total deposits rose 7% year-over-year to $159.4 billion, with strong growth in money market deposits.

The company maintained stable credit quality, with net charge-offs representing 0.30% of average loans and leases. Nonperforming assets increased slightly to $822 million, or 0.63% of total loans, reflecting stability in credit performance. Huntington's Common Equity Tier 1 (CET1) ratio was 10.5%, up from 10.4% in the prior quarter, supported by earnings and capital optimization strategies.

CEO Steve Steinour highlighted Huntington's success in delivering peer-leading growth across loans and deposits, as well as investments in new geographies and businesses. The company expects continued momentum in 2025, driven by strategic investments and a robust growth outlook.