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

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


  • Wishing Feedback
  • Issues and you may Responses
  • Call Professionals

Wishing Statements:

Greetings, and you may thank you for visiting the new Huntington Bancshares Last One-fourth 2020 money conference call. [Operator Tips] A concern-and-respond to concept will abide by the newest official presentation. [Driver Instructions].

Thanks a lot you, Melissa. Invited. I’m Draw Muth, Movie director off Trader Relationships for Huntington. Duplicates of your glides we are going to be evaluating exists towards the the new Individual Connections element of our very own webpages, huntington. It telephone call has been registered and additionally be available as an excellent rebroadcast undertaking about one hour regarding the close of phone call.

The presenters now is actually Steve Steinour, President, Chairman and you can Chief executive officer; Zach Wasserman, Chief Monetary Officer; and you can Steeped Pohle, Captain Borrowing Officer. As noted on slip two, the present talk, such as the Q&A time, usually consist of forward-appearing comments. Such as comments depend on guidance and presumptions offered by which time and is actually subject to transform, dangers and concerns, that may produce genuine leads to disagree materially. We suppose zero obligations so you’re able to improve including statements. To have a complete discussion from dangers and concerns, delight refer to which slip and you will question recorded into the SEC, plus all of our newest Variations 10-K, 10-Q, and you may 8-K filings.

Thanks, Draw. And you can good morning, men and women. Fall three provides an introduction to Huntington’s method to create the fresh leading individuals very first electronically pushed financial in the country. Our complete season performance show that we’re driving revenue gains even after headwinds, we’re worried about acquiring new clients and you may deepening people dating to obtain each other market share and share from bag. We have been committing to buyers-centric items, features and you may electronic technology that may push sustainable progress and you may our very own abilities, both today and for years into the future.

Huntington operates a purposely varied providers patterns, well-balanced payday loans online anywhere between industrial and you may consumer, that offers a great mixture of funds and you may borrowing from the bank exposure. We situated an aggressive advantage with the continuously premium customer care and you may the classified products and services. We have been dedicated to development most readily useful-in-classification electronic possibilities such as for example our cellular banking software, that has been recognized as the highest inside customer happiness by J.D. Fuel two years in a row.

For the 2020, we brought several brand new innovative services have that may continue in order to serve the customers’ requires and you can identify Huntington from the battle. We are really not done, you will find a pipe out of imaginative services has actually that individuals often launch all year round. You will find a verified history of good delivery, modifying our very own operating intentions to the surroundings so you’re able to drive stockholder productivity. Which acceptance me to submit our 8th consecutive seasons out of self-confident doing work influence from inside the 2020. All of our centered delivery have and will allow me to be certain that opportunities in the activities, anyone and you may electronic capabilities, that will drive green enough time-label growth and outperformance.

We have been particularly excited about the brand new TCF acquisition we announced past month, that offers a lot more size and you will increases ventures, i registered the bank regulating applications last week and you can launched the latest prepared integration of 198 branches. The audience is and work out an effective advances on our very own arrangements to possess combination later this year. I remain on song into in earlier times established plan, we assume the fresh closing time later throughout the 2nd quarter.

We’re proud of our very own 2020 results and continued momentum round the the bank, despite an extraordinarily tricky doing work environment. And you will I’m very pleased with the newest outstanding operate of our own colleagues to conquer the challenges of pandemic, plus look out for our very own users.

On the year, i increased revenue step 3%, loans six% and you will key places 11%. If you’re bottom line results and EPS were down on account of raised provisioning required according to the CECL reserve bookkeeping, our pre-income tax pre-supply earnings enhanced 4%. And they are common quite strong abilities.