Huntington Bancshares, Inc.

Strong Q2 performance + “execution turning into earnings” - Management highlighted strong organic loan & deposit growth, expanded fee revenues, and excellent credit performance. - Financial metrics cited: Adjusted PPNR +12% QoQ, Net interest income +8.5%, Value-added fee revenues +15%, and 210 bps positive operating leverage (trailing 12 months). - Surprising/positive: They reported deposit growth during the Cadence conversion weekend and following weeks (rare operational milestone).

Cadence conversion largely complete; synergies on track; shift from “conversion” to “growth” - Cadence systems conversion completed ~235 days after announcement; 4,500 colleagues transitioned and hundreds of thousands of customers moved to Huntington platforms. - Cost synergies: on track for $365M in Q4, and cumulative $435M annualized run-rate cost synergies expected by Q4 (from Veritex + Cadence combined). - Revenue opportunities emerging as planned: pipelines up with nearly $1B of expanded commitments (examples: $500M+ energy/CRE and ~$440M auto floorplan pipelines) and 10+ capital markets transactions post-close generating ~$12M fees.

NIM/net interest income outlook is cautious at the margin, but overall revenue/outlook stays robust - Deposits are growing strongly and are expected to continue funding loans: Avg deposits +$18.8B (+9.2%) sequentially, with primary banking relationships up YoY (consumer +4%, business +5%, commercial +8%). - Net interest margin: +10 bps YoY, -3 bps QoQ (attributed to full-quarter Cadence balance sheet impact + higher funding costs). Management said Q2 is the “trough” and expects NIM expansion from here via: - fixed asset repricing, - reversal of a temporary liquidity drag from Q1, - Cadence deposit optimization. - Outlook expectation (investor-relevant): for 2026, they expect NII to be at the bottom end of the range or modestly below (but they emphasized fee strength offsets and the overall revenue trajectory remains strong).