Page 1

July 29 , 2021 Analysts : Tim Sedabres ( timothy.seda bres@huntington.com ) , 612.286.3814 Media : Randi Berris ( randi.berris@huntington.com ) , 614.331.4643 ● ● 2021 Second - Quarter Highlights : Earnings ( loss ) per common share ( EPS ) for the quarter were ( $ 0.05 ) , a decrease of $ 0.18 year - over - year . Excluding approximately $ 0.40 per common share after tax of TCF acquisition - related Notable Items , adjusted earnings per common share were $ 0.35 . ● ● Huntington HUNTINGTON BANCSHARES INCORPORATED REPORTS 2021 SECOND - QUARTER EARNINGS TCF Acquisition Highlights Quarter ; Announces $ 800 Million Share Repurchase Authorization 1 On June 9 , Huntington completed the acquisition of TCF Financial Corporation ( TCF ) , adding approximately $ 50 billion of total assets , $ 34 billion of total loans and leases , and $ 39 billion of total deposits . On track to deliver expected economics from TCF transaction with integration proceeding as planned ; consolidated 44 Meijer in - store branches in mid - June ; majority of branch and systems conversions expected to occur in October . Executed balance sheet optimization strategy following completion of TCF acquisition ; remixing securities for yield and duration in line with our aggregate moderate - to - low risk appetite . Fully exited interest rate cap position as of June 30 while continuing to maintain equivalent capital protection through a mix of swaps and securities designation . The Board of Directors approved an $ 800 million share repurchase authorization for the next four quarters . Ranked by J.D. Power as the highest in customer satisfaction among regional banks for our mobile app for the third consecutive year and highest in customer satisfaction with consumer banking in the North Central Region for the sixth time in nine years . COLUMBUS , Ohio - Huntington Bancshares Incorporated ( Nasdaq : HBAN ) reported a net loss for the 2021 second quarter of $ 15 million , a decrease of $ 165 million from the year - ago quarter , impacted by TCF acquisition - related expenses . Earnings ( loss ) per common share for the 2021 second quarter were ( $ 0.05 ) , down $ 0.18 from the year - ago quarter . Excluding approximately $ 0.40 per common share after tax of Notable Items , adjusted earnings per common share were $ 0.35 . Specifically , second - quarter results were negatively impacted by $ 269 million pretax of TCF acquisition - related expenses and $ 294 million pretax of CECL initial provision ( " double count " ¹ ) expense related to the acquisition . Tangible book value per common share ended the 2021 second quarter at $ 8.23 , a 1 % year - over - year decrease . Return on average assets was ( 0.05 % ) , return on average common equity was ( 1.9 % ) , and return on average tangible common equity was ( 2.1 % ) . " Double count " refers to the additional gross up to the ACL via provision expense for the non - PCD loans and acquired unfunded lending commitments 1