Huntington Bancshares Incorporated Delivers Impressive Results as Profit Climbs 12%

Huntington Bancshares has seen impressive growth across its business lines, and as a result its earnings per share jumped 12% year over year.

Jul 18, 2014 at 11:22AM

Today, Huntington Bancshares (NASDAQ:HBAN) reported strong second quarter results as its earnings per share rose to $0.19, a gain of 12% over the second quarter of 2013.

In total, the bank saw its net income rise 9% to $165 million. This was due in large part to its net interest income -- what it generates from the loans it issues minus what it pays out on its borrowings -- rising from $425 million last year to $460 million this year, a gain of 8%.

This increase at Huntington Bancshares came from the interest payments it received from the automobile loans it issued rising from $52.2 million to $63.3 million. In total the automobile loans it holds have risen a remarkable 39% over the last year to stand at $7.3 billion.

Huntington also saw a sizable increase in the securities it holds, as those rose from $9.2 billion to $11.4 billion, a gain of 24%. As a result the interest earned on these rose by more than $20 million, or 38%, as the net interest margin also expanded, and brought the bank $74.8 million in interest income.

Over the last year, the earning assets at Huntington have risen by 12% to stand at $57 billion. Its deposits have risen to $48.2 billion, representing 4% growth.

The bank has also seen sizable growth in other means of borrowing, including Federal Home Loan bank advances as well as subordinated notes and other means of long-term debt. Combined these have grown to $5.4 billion, an increase of more than 50% over the $2.1 billion seen in the second quarter of last year.

"We are very pleased with our second quarter performance, which reflects our steadfast focus on executing our strategies," noted the chairman, president and CEO of Huntington Bancshares, Steve Steinour, in the announcement. "We have been able to grow both total revenue and net interest income year over year. Net interest income was particularly noteworthy, as average loan growth of 9 percent allowed us to overcome continued pressure on the net interest margin from the low, flat yield curve."

In addition to its 5% revenue growth as well as increased earnings, the bank also highlighted it repurchased $111 million worth of its common stock in the second quarter. In total, over the last year its average diluted common shares have fallen by 1%.

Overall, the results for Huntington in the most recent quarter were quite strong and represented another quarter of solid growth.

Huntington + Apple? This device makes it possible.
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are claiming its destined to change everything from banking to health care. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here

Patrick Morris has no position in any stocks mentioned. The Motley Fool owns shares of Huntington Bancshares. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

1 Key Step to Get Rich

Our mission at The Motley Fool is to help the world invest better. Whether that’s helping people overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we can help.

Feb 1, 2016 at 4:54PM

To be perfectly clear, this is not a get-rich action that my Foolish colleagues and I came up with. But we wouldn't argue with the approach.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich" rated The Motley Fool as the #1 place online to get smarter about investing.

"The Motley Fool aims to build a strong investment community, which it does by providing a variety of resources: the website, books, a newspaper column, a radio [show], and [newsletters]," wrote (the clearly insightful and talented) money reporter Kathleen Elkins. "This site has something for every type of investor, from basic lessons for beginners to investing commentary on mutual funds, stock sectors, and value for the more advanced."

Our mission at The Motley Fool is to help the world invest better, so it's nice to receive that kind of recognition. It lets us know we're doing our job.

Whether that's helping the entirely uninitiated overcome their fear of stocks all the way to offering clear and successful guidance on complicated-sounding options trades, we want to provide our readers with a boost to the next step on their journey to financial independence.

Articles and beyond

As Business Insider wrote, there are a number of resources available from the Fool for investors of all levels and styles.

In addition to the dozens of free articles we publish every day on our website, I want to highlight two must-see spots in your tour of

For the beginning investor

Investing can seem like a Big Deal to those who have yet to buy their first stock. Many investment professionals try to infuse the conversation with jargon in order to deter individual investors from tackling it on their own (and to justify their often sky-high fees).

But the individual investor can beat the market. The real secret to investing is that it doesn't take tons of money, endless hours, or super-secret formulas that only experts possess.

That's why we created a best-selling guide that walks investors-to-be through everything they need to know to get started. And because we're so dedicated to our mission, we've made that available for free.

If you're just starting out (or want to help out someone who is), go to, drop in your email address, and you'll be able to instantly access the quick-read guide ... for free.

For the listener

Whether it's on the stationary exercise bike or during my daily commute, I spend a lot of time going nowhere. But I've found a way to make that time benefit me.

The Motley Fool offers five podcasts that I refer to as "binge-worthy financial information."

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. It's also featured on several dozen radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable ... and I don't say that simply because the hosts all sit within a Nerf-gun shot of my desk. Rule Breaker Investing and Answers contain timeless advice, so you might want to go back to the beginning with those. The other three take their cues from the market, so you'll want to listen to the most recent first. All are available at

But wait, there's more

The book and the podcasts – both free ... both awesome – also come with an ongoing benefit. If you download the book, or if you enter your email address in the magical box at the podcasts page, you'll get ongoing market coverage sent straight to your inbox.

Investor Insights is valuable and enjoyable coverage of everything from macroeconomic events to investing strategies to our analyst's travels around the world to find the next big thing. Also free.

Get the book. Listen to a podcast. Sign up for Investor Insights. I'm not saying that any of those things will make you rich ... but Business Insider seems to think so.

Compare Brokers