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Huntington Reports 10-Percent Loan Increase

Huntington Bancshares has reported a net income for the 2018 third quarter of $378 million, an increase of 37 percent from the year-ago quarter. Earnings per common share for the 2018 third quarter were $0.33, up 43 percent from the year-ago quarter.

“Average loan growth remained strong at 7 percent year-over-year,” said Steve Steinour, chairman, president, and CEO. “Average consumer loans increased 10 percent, illustrating continued momentum in residential mortgage, RV and marine, and automobile lending.  Average commercial loan balances increased 3 percent year-over-year, impacted by anticipated commercial real estate loan payoffs in the quarter.  We remain optimistic for the rest of the year, as commercial originations picked up at the end of the quarter, and our local economies remain vibrant.”

Average earning assets for the 2018 third quarter increased $3.9 billion, or 4 percent, from the year-ago quarter, primarily reflecting a $4.5 billion, or 7 percent, increase in average loans and leases. Average residential mortgage loans increased $1.8 billion, or 22 percent, driven by an increase in lending officers and expansion into the Chicago market. Average commercial and industrial loans increased $1.2 billion, or 4 percent, reflecting growth in middle market, asset finance, energy, and corporate banking.

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