HBANP - Huntington Bancshares Incorporated (HBAN) Q1 2024 Earnings Call Transcript

2024-04-19 13:50:25 ET

Huntington Bancshares Incorporated

Q1 2024 Earnings Conference Call

April 19, 2024 08:00 AM ET

Company Participants

Tim Sedabres - VP & Head of IR

Stephen Steinour - Chairman, President & CEO

Zach Wasserman - Senior EVP & CFO

Brendan Lawlor - Deputy Chief Credit Officer

Conference Call Participants

Manan Gosalia - Morgan Stanley

John Pancari - Evercore ISI

Scott Siefers - Piper Sandler

Steven Alexopoulos - JPMorgan

Ebrahim Poonawala - Bank of America

Ken Usdin - Jefferies

Jon Arfstrom - RBC Capital Markets

Peter Winter - D.A. Davidson

Matt O'Connor - Deutsche Bank

Presentation

Operator

Hello and welcome to the Huntington Bancshares First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Tim Sedabres, Director of Investor Relations. Please go ahead, Tim.

Tim Sedabres

Thank you, Operator. Welcome, everyone, and good morning. Copies of the slides we will be reviewing today can be found in 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 turn it over to Steve.

Stephen Steinour

Thanks, Tim. Good morning, everyone, and welcome. Thank you for joining the call today. We're pleased to announce our first quarter results, which Zach will detail later. Again, these results are supported by our colleagues 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 leave you with today. First, we are executing our organic growth strategies and leveraging our position of strength. As planned and managed over the years, our liquidity and capital metrics are top tier. Second, we delivered loan growth in the quarter and expect the pace to accelerate over the remainder of the year. Our teams are acquiring new customers and relationships in both commercial and consumer categories.

We are maintaining our momentum in deposit gathering with a well-managed beta. Third, we expect to drive sequential increases in net interest income and fee revenues from the level reported in the first quarter, supported by accelerating loan growth, coupled with effective balance sheet management. Fourth, we continued to rigorously manage credit, consistent with our aggregate moderate to low risk appetite. Finally, we are positioned to power earnings expansion over the course of the year and into 2025....

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