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Huntington Bancshares Reports Strong First Quarter 2023 Performance with Net Income of $602 Million

By Newsinminutes - Jul 24, 2023, 08:10 AM ET
Last Updated - Jul 24, 2023, 08:10 AM EDT
Huntington Bancshares Reports Strong First Quarter 2023 Performance with Net Income of $602 Million

Revenue Reaches $2.54 Billion, Reflecting Growth in Interest and Fee Income

Huntington Bancshares Incorporated (HBAN) released its unaudited consolidated fina ncial statements for the first quarter of 2023, showcasing a robust performance. The financial results revealed a net income of $602 million and a total revenue of $2.54 billion. Huntington Bancshares' first-quarter performance highlights its strong position in the market and its ability to navigate the challenging economic environment.

Consolidated Balance Sheets

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The company's assets grew to $189.07 billion at the end of March 2023, up from $182.91 billion at the end of December 2022. This 3.38% increase reflects the company's continuous efforts to expand its holdings and strengthen its presence in the financial industry.

Huntington Bancshares' primary assets include cash and due from banks, interest-bearing deposits at the Federal Reserve Bank, and available-for-sale securities, among others. Notably, loans and leases also contributed significantly to the company's assets, with a total value of $121.18 billion, measured at fair value.

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