PROSPECTUS SUPPLEMENT SUMMARY
This summary highlights selected information contained or incorporated by reference in this prospectus supplement and the accompanying
prospectus and does not contain all the information that you need to consider in making your investment decision. You should carefully read this entire prospectus supplement, the accompanying prospectus, any related free writing prospectus and the
documents incorporated herein and therein by reference, before deciding whether to invest in the notes. You should pay special attention to the Risk Factors section of this prospectus supplement and contained in our Annual Report on Form
10-K for the year ended December 31, 2022 and in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023 to determine whether an investment in the notes is appropriate
for you.
Huntington Bancshares Incorporated
We are a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio.
Through the Bank, we have over 150 years of servicing the financial needs of our customers. Through our subsidiaries, we provide full-service commercial and consumer deposit, lending, and other bank services. This includes, but is not limited to,
payments, mortgage banking, automobile, recreational vehicle and marine financing, investment banking, capital markets, advisory, equipment financing, distribution finance, investment management, trust, brokerage, insurance, and other financial
products and services. Our approximately 1,000 full-service branches and private client group offices are primarily located in Ohio, Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, West Virginia and Wisconsin. Select
financial services and other activities are also conducted in various other states. International banking services are available through the headquarters office in Columbus, Ohio. Our foreign banking activities, in total or with any individual
country, are not significant.
As of December 31, 2023, we had, on a consolidated basis, total assets of approximately
$189 billion, total deposits of approximately $151 billion and total shareholders equity of approximately $19 billion.
Our principal executive offices are located at 41 South High Street, Columbus, Ohio 43287, and our telephone number is (614) 480-2265.
Recent Developments
Preliminary Results as of and for the Three and Twelve Months Ended December 31, 2023
On January 19, 2024, we announced our earnings for the period ended December 31, 2023, including the information below.
Net income for 2023 full year was $1.95 billion, a decrease of 13% from the prior year. Return on average assets for the 2023 full year was
1.04%.
Net income for the fourth quarter of 2023 was $243 million, a decrease of $402 million from the year-ago quarter. Return on
average assets was 0.51%.
The provision for credit losses was $126 million in the fourth quarter of 2023, compared with
$91 million in the fourth quarter of 2022 and $99 million in the third quarter of 2023. Net charge-offs of loans were $94 million during the fourth quarter of 2023, compared with $50 million and $73 million in the fourth
quarter of 2022 and third quarter of 2023, respectively. Expressed as an annualized percentage of average loans outstanding, net charge-offs were 0.31% and 0.17% in the fourth quarter of 2023 and 2022, respectively, and 0.24% in the third quarter of
2023.