Huntington Bancshares profit drops on lower interest income [Yahoo! Finance]
Huntington Bancshares Incorporated (HBAN)
Last huntington bancshares incorporated earnings: 4/23 07:30 am
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Source: Yahoo! Finance
Regional banks have been offering higher returns on deposits to prevent customers from fleeing to a higher yielding alternatives. Net interest income, the difference between what banks pay customers on deposits and earn as interest on loans, declined 8.3% to $1.3 billion, in the three months ended March 31, Huntington said. The high interest-rate environment, however, has squeezed the finances of borrowers, resulting in banks allocating more capital for potential loan defaults. Provision for credit losses at Huntington Bancshares grew nearly 26% to $107 million. The lender's quarterly profit came in at $419 million, or 26 cents per share, compared with $602 million, or 39 cents per share, a year ago. The bank also incurred an expense of $32 million related to the additional special assessment that it had to pay to replenish the Federal Deposit Insurance Corp's deposit insurance fund. (Reporting by Sri Hari N S in Bengaluru; Editing by Maju Samuel)
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HBAN
Earnings
- 4/19/24 - Beat
HBAN
Sec Filings
- 5/2/24 - Form 144
- 5/1/24 - Form 4
- 5/1/24 - Form 144
- HBAN's page on the SEC website