Huntington Bancshares Incorporated (NASDAQ:HBAN) Q3 2024 Earnings Conference Call October 17, 2024 9:00 AM ET

Company Participants

Tim Sedabres - Director, Investor Relations
Steve Steinour - Chairman, President and CEO
Zach Wasserman - Chief Financial Officer
Brendan Lawlor - Chief Credit Officer

Conference Call Participants

Manan Gosalia - Morgan Stanley
Ebrahim Poonawala - Bank of America
Jon Arfstrom - RBC Capital Markets
Erika Najarian - UBS
Matt O'Connor - Deutsche Bank
Sean Sorahan - Evercore ISI

Operator

Greetings, and welcome to the Huntington Bancshares 2024 Third Quarter Earnings Review. At this time, all participants will be in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Tim Sedabres, Director of Investor Relations. Please go ahead.

Tim Sedabres

Thank you, operator. Welcome, everyone, and good morning. Copies of the slides we will be reviewing today can be found on the Investor Relations section of our website, www.huntington.com.

As a reminder, this call is being recorded and a replay will be available starting about one hour from the close of the call. Our presenters today are Steve Steinour, Chairman, President and CEO; and Zach Wasserman, Chief Financial Officer. Brendan Lawlor, Chief Credit Officer, will join us for the Q&A. Earnings documents, which include our forward-looking statements disclaimer and non-GAAP information, are available on the Investor Relations section of our website.

With that, let me now turn it over to Steve.

Steve Steinour

Thanks, Tim. Good morning, everyone, and welcome. Thank you for joining the call today. We are very pleased to report outstanding results for the third quarter, which Zach will detail later. 2024 continues to be a dynamic year and our year-to-date results demonstrate Huntington's strength and consistent performance. These strong results reflect the dedication of our nearly 20,000 colleagues across the bank who live our purpose every day as we make people's lives better, help businesses thrive, and strengthen the communities we serve.

Now on to Slide 4. There are five key messages we want to share with you today. First, we are driving accelerated loan growth along with sustained deposit growth. These results are supported by our core businesses, as well as the successful execution of new initiatives, including expanded geographies and commercial banking verticals. Second, we are actively executing our down beta playbook as the market enters a declining Fed rate cycle. We are dynamically managing the balance sheet and coupled with our growth outlook, we expect to deliver record net interest income in 2025.