Huntington Bank reports 116 percent income increase

Staff report

YOUNGSTOWN

Huntington Bancshares Inc. reported net income for the 2017 third quarter of $275 million, a $148 million, or 116 percent, increase from the year-ago quarter.

The Columbus-based bank with operations in the Mahoning Valley saw a $162 million, or 17 percent, year-over-year increase in revenue, consisting of a $135 million, or 21 percent, increase in net interest income and a $28 million, or 9 percent, increase in noninterest income.

Loans and leases increased $7.6 billion, or 12 percent, year-over-year increase in average loans and leases. Consumer loans increased $4 billion or 14 percent, and commercial loans increased 11 percent or $3.5 billion.

Average core deposits increased $11.5 billion, or 19 percent, year-over-year.

“We had another strong quarter,” said Bill Shivers, president of the Canton/Mahoning Valley region for Huntington Bank. “We are pretty happy with the way things are going right now.”

Shivers said consumers and businesses here are optimistic.

“Things are going well from an economy standpoint,” he said.