Huntington Bancshares Reports Strong First Quarter 2023 Performance with Net Income of $602 Million
Revenue Reaches $2.54 Billion, Reflecting Growth in Interest and Fee Income
Huntington Bancshares Incorporated (HBAN) released its unaudited consolidated fina ncial statements for the first quarter of 2023, showcasing a robust performance. The financial results revealed a net income of $602 million and a total revenue of $2.54 billion. Huntington Bancshares' first-quarter performance highlights its strong position in the market and its ability to navigate the challenging economic environment.
Consolidated Balance Sheets
The company's assets grew to $189.07 billion at the end of March 2023, up from $182.91 billion at the end of December 2022. This 3.38% increase reflects the company's continuous efforts to expand its holdings and strengthen its presence in the financial industry.
Huntington Bancshares' primary assets include cash and due from banks, interest-bearing deposits at the Federal Reserve Bank, and available-for-sale securities, among others. Notably, loans and leases also contributed significantly to the company's assets, with a total value of $121.18 billion, measured at fair value.
