Huntington Bancshares Inc (HBAN) Q4 2020 Income Telephone call Transcript

Contents:

• Wishing Statements
• Inquiries and Responses
• Telephone call People

Waiting Comments:

Greetings, and you will introducing the fresh Huntington Bancshares Last Quarter 2020 money meeting phone call. [Operator Recommendations] A concern-and-answer lesson will abide by this new certified speech. [Driver Directions].

Thanks a lot you, Melissa. Allowed. I am Mark Muth, Movie director away from Investor Relations getting Huntington. Copies of your slides we’re going to getting evaluating is available for the the new Trader Interactions element of all of our site, huntington. So it call is registered and will be available because the an effective rebroadcast performing on an hour or so on the romantic of your own telephone call.

Our presenters today are Steve Steinour, Chairman, President and you can President; Zach Wasserman, Master Economic Administrator; and you can Rich Pohle, Head Borrowing from the bank Administrator. While the listed on slip a few, the present discussion, for instance the Q&A period of time, tend to contain forward-looking comments. Eg statements depend on pointers and you will assumptions offered by which some time are subject to changes, risks and uncertainties, that could produce actual leads to disagree materially. I guess no obligation to up-date instance statements. Getting an entire discussion of dangers and you can uncertainties, delight reference it slip and you will material submitted to your SEC, along with the most recent Forms ten-K, 10-Q, and you will 8-K filings.

Thanks a lot, Mark. And you may good morning, people. Fall around three provides an overview of Huntington’s solution to build the latest leading some one first electronically pushed bank in the united states. The full season results show that we are driving revenue growth even after headwinds, we’re focused on obtaining new customers and deepening those individuals relationship so you’re able to get both market share and display of handbag. Our company is investing consumer-centric products, features and electronic technical that can drive renewable gains and you may the efficiency, one another today as well as for years into the future.

Huntington operates a deliberately varied business activities, healthy ranging from commercial and you will user, that offers good combination of money and credit exposure. We’ve got founded a competitive virtue with these continuously superior customer service and you may all of our classified products. We are committed to development finest-in-category electronic opportunities instance all of our mobile banking application, which was recognized as the highest when you look at payday loans in Michigan the client satisfaction by J.D. Strength couple of years consecutively.

When you look at the 2020, i put multiple the fresh creative products and features that may keep in order to serve our very own customers’ needs and identify Huntington in the competition. We’re not done, you will find a tube from innovative services possess that people often discharge all year long. You will find a verified track record of strong execution, changing all of our working intentions to the surroundings to help you drive shareholder returns. So it allowed us to submit the 8th consecutive year out-of positive functioning influence within the 2020. Our very own centered performance possess and will enable us to be sure expenditures regarding things, anyone and digital potential, that push alternative long-term development and you will outperformance.

We’re such as excited about the new TCF buy i revealed past times, that offers even more level and you may progress opportunities, we submitted the lending company regulating applications the other day and revealed this new arranged combination from 198 twigs. We are and work out a good advances on all of our plans to own consolidation later this year. I stick to tune with the in the past revealed agenda, we expect this new closure day late regarding next quarter.

We’re happy with our very own 2020 abilities and you may went on momentum around the the financial institution, even with an extremely tricky performing ecosystem. And you may I am very happy with this new the operate of our own colleagues to overcome the problems of pandemic, and additionally be cautious about our very own consumers.

Towards the 12 months, i grew revenues step 3%, finance 6% and you will core places 11%. While you are conclusion show and you can EPS was in fact off on account of elevated provisioning requisite in CECL set-aside bookkeeping, the pre-income tax pre-provision money increased 4%. And these are typical very strong abilities.