HBAN - Earnings call transcript Q4 2019 | Huntington Bancshares Incorporated

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Operator

Greetings, and welcome to the Huntington Bancshares Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mark Muth, Director of Investor Relations.

Mark Muth

you. Thank Welcome. Director for Muth, Investor of Mark Huntington. Relations I'm will can section be of our the on reviewing we slides Relations Copies found be the site, www.huntington.com. Web of Investor being from the of as is This be close and about hour starting the available call one a recorded, rebroadcast call. will

CEO; Pohle, presenters Officer. Chief and Chairman, today Financial Chief Steinour, Steve Wasserman, Our Credit Officer; are President Zach and Rich

information Q&A and statements to on noted slide on assumptions As assume are to such will Such results forward-looking statements. changes, may no discussion, this the two, at update We actual contain statements. period including subject based differ time, uncertainties, and available are materially. to obligation cause today's and which risks,

this our the SEC, For with the recent slide, most filed a and discussion refer and risks complete material X-K including of XX-K, and Forms XX-Q, uncertainties, filings. to please

Steve, turn three. now over it me slide Let will to start on who

Steve Steinour

for you Mark, today. everyone and thank joining Thanks the call to

support. results always, We're despite operating As interest our environment. the the a momentum and full-year bank, challenging we across with pleased continued appreciate your and XXXX

was Return common for equity average we the assets seventh per return of X.X%. consecutive income $X.XX, basis for on consecutive achieved year leverage XXXX of on the year. and For average bank the common XX%, and average earnings The X% was over was on reported adjusted an increase an equity XXXX. fifth full-year, tangible common Return for share XX%. record net positive operating on

remains XXXX charge-offs well-positioned through of We adequate reduced with rate and comprehensive the low-end remain has our the target risks, a payout we earning sheet with of our allocation interest an is capital liquidity, appropriate year. aggregate net range. moderate-to-low very quality taking during Credit are cycle our $XXX share XX%. hedging the cash of consistent Our to robust consecutive million with our the of ratio average dividend, shareholders and increased profile. ensure capital over balance prudent at risk. in strategy to $X year XXXX total dividend represented of billion the with which repurchases marked with our ninth We and returned coupling risk returns XXXX, strong

previously we not and first fund priorities uses all changed. second, including other to to cash growth, organic our instances, the are on capital support As capital finally, selective These and the many have priorities communicated dividends, capital acquisitions. buyback

or Now, wage XX our well expansion. continue to continued perform to our months growth the for to Consumers strong we the economy, November inflation. see footprint declined in In XX exceed of and XXXX, increases rates ending Michigan, across remain continue expectation states. to is XXXX continue driving Job Midwest. markets unemployment with moving openings labor to Home levels for the and Ohio. MSAs Indiana, same especially the footprint Huntington's the in prices continue in appreciate with largest XX solid in unemployment

Additionally, in since highest consumer the stayed of positive our success lending consumer confidence our sentiment levels at evident XXXX. region the is generally consumer in businesses. has The

mortgage Our quarter. XXXX the for and full-year business achieved XXXX fourth record home lending originations both

fourth quarter, the auto we consumer year again finance. XXXX our by Our in in and primarily for record and auto businesses, mortgage another achieved also driven business residential expect finance originations good lending

robust labor some performing slowdown tone seen Overall, well disciplined commercial with markets measured footprint. in tight our organic Huntington growth along loan growth. of activity uncertainty the commercial with headwinds economic a Economic is remain have we consistent from customers. more in Now, our with for

performance. confidence generally in and we customers confident our share about that for Our performance their XXXX, are

the announced area, plan. part We traction our as continue specialty in new our of XXXX telecom, to good finance which media of lending verticals mid-corporate technology, and see strategic lending, we practice

capacity and for in future Looking quarter of the to resulted security growth, our points The increase million in yield organic businesses technology. drive billion investment those reduce expense fourth losses in actions additional revenue our rebalance of took our XXXX, out on We picking to $X securities. basis growth, we proactively and quarter. securities $XX XX of approximately in up reposition the fourth

expense of approximately employees in-store of resulted these unusual disposition completed reduction and the we system along in technology of properties XX the million the expense the announced On position consolidation other a side, and with actions and the quarter. in branches, of decommission $XX

forward. disciplined I'm digital entering and are management and and focused our and positioning growth initiatives expense in for further mobile investment XXXX, our confident our allows Our colleagues technology, enterprise in executing plans. going

delivering We and top creating regional a quartile are our cycle high-performing aligned of returns. the strategies through bank shareholder all with

Zach Zach? performance. an will financial provide now overview of our

Zach Wasserman

previously position results Thanks, better earnings touched call to including good on. many in-store that quarter here share and for actions, full-year first announced highlights Fourth and It's pending from four everybody. my quarter a of morning Steve, to of impact, taken include with you or already million the XXXX pleasure our repositioning, per on were approximately after-tax XXXX pre-tax approximately respectively, closures. provide the branch with XXXX, Steve securities actions and $X.XX of the workforce Slides fourth $XX five results which and Huntington. bank be

asset loans specialty loan and year-over-year reflected ago component over corporate and loan commercial our growth the largest Let's industrial quarter. $X.X turn Average behind past finance, growth. increased discuss of year has the year-over-year been C&I and with increased with quarter, to and billion, X% Average or increased balanced compared assets consumer the growth. ago the billion, Average or loans from well-diversified to year year leases loan fundamental slide the growth quarter. performance X% key banking. earning in financial for X%, and the to six drivers banking, commercial $X.X the notable

quarter was our loan expectations. below growth commercial fourth Our

expected Overall we close were continues were and to larger utilization by year than line yields at end the be into of restrained activity in normal. portion a the declines seasonal As of at uncertainty. commercial XXXX to pushed economic year-end

of by a current year-over-year. CRE with the around growth pay remained and XXXX. reflecting loan mortgage robust estate commercial second-half focused in downs reflecting real mortgage portfolio, Consumer Average portfolio refinancing average activity. driven We increased actively residential levels X% loans loans to the origination residential continue decrease, year-over-year manage our in X%

As we the and the do, production mortgage mortgages specialty and in typically products. mortgage sold agency-qualified jumbo retain we quarter

turning year-over-year, to rates deposits impacted deposits. negatively average Wisconsin Branch sale while average seven, of Now, decreased Note than were growth deposits or X% Network, less almost the X% core XXXX both June slide $XXX Retail these core including X% year-over-year. million increased of the total that of approximately by

a market shifting year-over-year, deposits we while focused savings are X% continue and Average CDs in from market savings money promotional decreased deposit X%, pricing. increased preferences, core decreased money CDs and to We customer reflecting where see balances accounts, and migration into XX%. on

each this increased year-over-year. Average in to dynamic expect DDA bearing XXXX. We interest and bearing X% continue non-interest accounts,

growing shown our This base slide that on appendix, continued the very focus the and growth in bearing through low customer deposit As deepening. on cost pleased commercial our on year-over-year deposit highlights we're new increased quarter. XX our non-interest X% relationship acquisition

quarter. year December. the points conference for the Net we with margin FTE to the down offset average income now quarter, link And provided or the million guidance points year assets. quarter, in slide XX the partially X.XX% Moving $XX in in in a point interest X% ago X% quarter, eight interest ago decreased margin down primarily eight, net line decline by from Goldman was versus basis net interest increase by XX basis earning Sachs basis driven

in in year core quarter margin immaterial quarter purchase ago appendix nine, a to the core slide down intend net to to for breakouts, points is X.XX%, from have the the the actual points the the PAA quarter, to note margin basis last have quarter XX Moving XXXX. ago and in basis year XX Purchase the we is interest regarding to accounting net interest first compared was XXXX of for seven Slide write this four provides accretion accounting XXXX. and expected our impact points basis in and the fourth that Please quarter. the quarter. contributed impact NIM relatively information PAA scheduled as merit current

decreased asset rate points yields to Reserve and XXXX. The basis be loan to rates consumer our eight reductions asset XX our Federal following security occurred loan to decreased decreased basis the lower decrease interest that Turning basis can commercial yields asset points yield, during primarily year-over-year, yields earning three earning yields in XX points. attributed

deposit side funding balance to continue the the On our move sheet, costs lower. of

costs. As deposit bearing CDs basis points manage up and money X% costs market XX of actively Total promotional rates commercial interest re-price year-over-year. and lower, quarter the we were deposit for

So down sequentially. XX basis points

volatility Slide taken the summarizes and the unfavorable of reduce we've rate rate interest interest lower environment. the XX impacts to actions

hedging Our income. narrowed the significantly interest lower of interest downside for for risk rates outcomes and the net band have modeled strategies reduced

We basis and from prudently interest necessitate. mix continuously point other risk suggests little Our continue in management modeling will interest decrease a in and points environment, risk XXXX. rate current XX rate refine either as or sheet basis balance XX increase, interest interest the monitor our rate factors to income changed

remain The opportunity graphs to significant CDs activity the cost and the left deposit the lower. market the consumer portfolio, these particularly with with success more provided of XXXX. slide first-half higher on of of as displays commercial The re-price of deposits. us deposit bottom graph on retention The Through the the slide re-pricing events pricing for the deposit, pricing, These promotional of and track provide the our actions. consumer highest our re-pricing is in consumer bottom has mix December, reduce as in expectations. the money deposit the to depository price impact ability our well as of loan of balances events detail our re-pricing an right among the the bank accounts our disciplined on the cost

the of costs month You July. by interest can downward total see deposit bearing since our trajectory

of this opportunities in trend that expect significant the XXXX. remain re-pricing to given the continue deposit first-half We

by income, can volume our net which gain XX, non-interest risk million increased well the The market growth as year banking detail servicing income, the on management. XX% spreads, origination Turning to ago rights slide reflecting was secondary the primarily you higher increase mortgage mortgage on a $XX from saleable it highlighted and increased in see XXX%, quarter. as which provides

see on losses securities fourth and income, and cost picking and quarter on the approximately the quarter, back million very we continue XXXX at investment up repositioning. portfolio. repositioned prospectively losses of also earnings while basis the securities in impacting the The those $XX points with We positioning securities payment are ago of up in quarter a to and management of of In in steady management million attractive securities the QX, XXXX insurance. negatively $X processing consistent card similar our $XX growth year and included of billion four from trust yield active prospective results, earn pick XX

included quarter year-over-year components to of essentially discussed million million which Slide flat. similar $XX of provides facility while included expense. were quarter the fourth for year non-interest decrease the ago Steve these consolidation-related expense XXXX Adjusting the X% actions, expenses The items, $XX in XX related expense. the of and branch earlier, non-interest

robust expense us continue to We to and disciplined ensure capacity in investments on allowed our efficiency mobile expense seventh and capabilities. core positive leverage fuel base drive products adjusted cyber investment basis distribution to enhance management consecutive year. an and growing in operating for technology and our achieve This digital, services to the

common XX the XX continued TCE strength capital tangible or common equity XX year-ago from at quarter or equity ratio the illustrates ended ended our the X.XX% ratio X points Slide in Tier X.XX% or basis up CET-X year-over-year. points ratios. at and basis quarter The

operating manage X% to We our of XX% to continue CET-X the guidelines. high-end to

of common of benefit capital we a shares level cost which capital the our provision managing During We to near of excluding the XXXX, maintaining or CET-X transition the see fourth million a share plan CECL back an at XXXX, use the repurchased a strong quarter the the to XX.X million. provided per to excluding total implementation CECL the year federal we level commitment following to transition, position the by as XX% average of reserve, of our CET-X manage strength end repurchased for three of feel by organization. the internally reinforces $XXX $XX.XX to we share ratios

on million of As currently planning a third of the repurchase a capacity remaining of our the XXXX. less in share first-half are XXXX $XXX repurchase capital plan result, to than we

Now, CECL. to Rich? let over me credit turn Rich to it cover including

Rich Pohle

or allowance an for on Slide Zach. our XX or to $X.XX estimate losses leases billion provides and update X.XX% total Thanks, on XX% of ACL will XXXX basis. CECL ACL loans increase an our the adjusted credit year-end from adoption. We

dated consumer longer largely stated CECL the the given The prior on reserves we third consumer relatively in XX% methodology call, is loss quarter to a allowance loan portfolio. our As higher results of than life the loans, the related increase mix time in methodology.

a is it move accounting into forward we As variables. new standard CECL with many

day factors. multiple recovery be incorporate borrower loans will loss characteristics for other losses rates, scenarios various historical Our and using and credit determined models

in result, our more we volatility provisioning expense. expect a As quarterly

Our level being factors parallel expense higher loss current annual change the that testing provision is key expected incurred despite aggregate indicates of however to constant held that from quarterly materially the not variability. methodology

credit Slide XX strong. metrics in challenges our gas credit key of metrics quality snapshot a portfolio, for provides quarter oil the remain our and despite

quarterly As one prudent loans, level of aggregate, to consistent, given expected principles disciplined volatility we underwriting moderate previously, of our and reflect risk is risk have absolute problem management low is our noted some results Huntington's and our appetite. financial to continue low credit approach to core the

current of The quarter in loans the XX gas charge-offs. was basis which flat prices limited total through compounded the on points, approximately end This the portfolio and prior portfolio near of net up by average activity. remain capital the basis XX was quarter annualized of points impacted made year-ago basis half average target an oil low points and our low commodity from commercial increase geological up charge-offs centered issues by the primarily and of represented quarter. leases the cycle and XX Net the in charge-offs to to range XX net

than gas analyst is excluding remains portfolio for a again basis Annual result in ratio We oil increased reserved stress appropriately XX the and there slide. and quarter believe X.XX% the on year, on have related linked granularity and X% and charge-offs portfolio. $XX past of down points the we versus in just losses fairly relatively Consumer charge-offs have book. have basis by points a for. two primarily our basis of remained XX X.XX% commercial the non-performing million gas total of basis year-over-year XX the at additional charge-offs were the and and one less loans small allowance a The the point relatively lease oil net representing for portfolio linked over losses loans consistent asset we of stable oil points gas as and loan to basis percentage quarter. The as points package

Zach. over Let me back it turn to

Zach Wasserman

illustrates Thanks, XXXX. Rich. Slide expectations full-year our XX for

We in to we be another invest organic continue execute year as growth growth sustained core XXXX of to our expect strategies. and

growth and be expect consumer We data. loan and to lending side we both expect growth of auto we portfolios slightly more X% full-year loan with the home stronger in of in modestly in commercial X% commercial range consumer the measured average expect finance; growth continued growth to consistent on economic focused recent

X% growth average to on deposit is focused as customer remain acquiring Full-year accounts approximately expected checking we be or relationships. deepening to X% and

entails and in Specifically our markets. offset decline more CDs continued growth checking than money expectation by

and basis growth GAAP We to X.X% net expect of total income. non-interest which revenue in grows on full-year a interest income X.X% both

of fourth NIM to of the second-half stabilizing first-half projecting in the quarter from the year. are in the We rebound the XXXX XXXX before

growth, watching rationale variance volume this net in around our environment opportunity primary and to while our Given we income NIM interest closely rate our forecast. remain the pricing for confident the and rate deposit competitive are as positioning, relatively markets in of risk deposits neutralized we interest our risk represents outlook for remains

X%. expect on Based customer trajectory. non-interest expense comfortable We a are driven management increase rate revenue focus expected to basis the XXXX, to higher expense non-interest current on on GAAP X% our grow base to and continued than pace Full-year slightly active deepening the in we a income is XXXX our at run relationships. in by with total

drive on differentiate focus investment to revenue continued Huntington is further opportunities growth. Our and driving in

you full-year positive net We XXXX to and previously, XX targeting annual remain within charge-offs to be basis anticipate are XX of we operating XXXX a range the actions and leverage. demonstrating points. As told that will our we committed our with guidance,

just covered action mitigate our portfolio. As Rich gas credit fundamentally are and we in taking decisive risk to our remains oil strong, the

in are a reserved our oil fully life charge-offs As with charges the slightly gas expectations have year-end repressed XXXX. We first-half we adequately result, the and at These for believe of CECL loan guidance. adoption. are and we XXXX of in remaining elevated

the in for effective range. XX.X% the is for tax to expectation the of the remainder year rate Our XX.X%

Mark Muth

your we them person now each courtesy any We he one into additional take related Operator, one person to follow-up, as only she ask has that peers, queue. ask and back and if or then the can questions, will questions. question that a Thank you. add

Operator

Thank you. session. we At you. question-and-answer [Operator time, this will conducting be Instructions] a Thank

line your with first Our question comes the Jon proceed RBC. with Please Arfstrom from of question.

Steve Steinour

Jon. morning, Good

Jon Arfstrom

you will headwinds I to but maybe we Lots seemingly could if Phase the on and morning. done, little you're but just about do seeing talked start optimism bit about, Steve at ask customers? if commercial, in us little more you have with bit from a China just in and color Good any give changes that just USMCA curious X commercial a -- all

Steve Steinour

distractions is now. just obviously done, D.C. are recently there Jon, right USMCA going and issues, other at on

change think So sheets going expect I a little and We start see a more in be of I on a is the from going reported reluctant is about cash conference, regard, did the I but be prior little at it lift. end don't we different what the is - think in to I'm at that optimistic hesitant, talking this year. but the of have customers second-half to there there do balance with optimistic yet, year. meaningful

on expected So, particularly spot as kept cash sheet. were was bit from auto be. That them down balances customers to true in a where we more

that are lack of in planning sort that I so of as in an and element wait-and-see we by reflects the as just is this process labor, just approach. these So, conservatism hampered Again, think the uncertainties. well Midwest

Jon Arfstrom

for expect XXXX, provisioning XXXX just impact CECL again, to roughly that talk one if us same the maybe about think wonder I in I the about XXXX? the you right? more, how Zach, be Zach in you Thanks. said think provision want you, then Rich And X what can you is helpful. Okay, I that's And compared Day Rich, heard to to or

Rich Pohle

material is that Rich. that with are testing it we've we kind The quarter-by-quarter, we CECL overall This of volatility volatility level methodology. so we loss incurred see on through more had change lot itself volatility BAU the of than the done going were the of the course in we so forward, over testing basis quarterly expect this the a see we a and again, new, but don't to CECL out, tended Yes. that a there we some -- to under quarterly provision showed is under -- going don't did, year,

Jon Arfstrom

All helpful, thank that's right, you.

Rich Pohle

Thanks.

Operator

Our comes proceed the line from your with next David Please Raymond with question of Long question. James.

David Long

Good morning, everyone.

Rich Pohle

morning. Good

David Long

for year, revenue right backdrop With is outlook the rate your what you're the assuming that now?

Zach Wasserman

will question, to Good Zach. is that David. This you. I with take talk

is We are relatively it neutral. relatively forward The although November, now. consistent assuming curve right existed the yield funds essentially it as expectation where Fed in looks it's with

at cuts I essentially income, think hedging based today. neutralized rate in forward as actual the interest from NIM prepared on one late and from included the our I we think remarks, program, sort the summertime it noted rate, decrease is have one our in net but look forecasted precisely, rate period, increase rate one

say back taking of would where are today. flat I from sort So, roughly we a step

David Long

that can do the pull you against it, produce on rate backdrop operating positive Got you leverage? if you, still side, can and so you additional the expense have goes levers

Zach Wasserman

do. we Yes,

from Michigan looking not look initiatives. think I typically disposal. growth phasing Ohio, is how and at will branch levers and offset do the expecting one the just as down under I that mitigate pull them. a We always I mentioned, always see opportunity, our we so here number cost we scenarios, got our to of strategic number that. we've we are in the and and the I'll a and rate so, expense the pacing compensation at keep around hedging at few tend have network We've got variable levers, to expense linked branch we our those take but an as that think pretty NIM of of realistic our program can constant, expense generally revenue reduction as most soften, see and

we've got levers not other XXXX, quarter levers the plans, disposal we in of look which at the contingency at saw all that in disposal, our There and are which our our are are the positive but like positive generate expecting I'll have we again, last at XXXX. fourth those So, do say, in pull commented that time. to we'll us to XXXX. staffing you thing leverage expectation operating managing leverage, operating is are it's just The you

David Long

it, color. the appreciate I Got Thanks.

Steve Steinour

You're welcome.

Operator

line proceed comes question next with question. Please from John Evercore. with Pancari Our your of

Steve Steinour

John. morning, Good

Rahul Patil

Patil John. is This on Rahul behalf

just you the for auto business, to considering have have your gauge, you pricing your biggest are tied that in now The previously following that pace space, a question seeing loans players flattish the XXXX ability part then, one on average growth lending your second implementation two-part loans to your outlook at XXXX? the CECL is auto expected? active grow a is of pressure Just impact the appetite you in trying more in forward, loan lending CECL. on to becoming what's And auto going auto know, auto balance or

Steve Steinour

Yes, take John. that. It's I Rich, will

first. take the second I'll So, question

the So, as not life we average neutral, what relates business under of is to and it much the incurred auto auto is loan typical loss weighted than the different methodology. had our that really CECL,

impact a a benign from fairly So, it's CECL standpoint.

overall tremendous across got As ability states that multiple just relates the with I dealers the we we've strategy, business it have of a think, drive franchise thousands to volume. to

that tends be more to in are than band sensitive we high cycle a price think others. very I

that don't in any meeting XXXX. real the see in the I goals we've So, automatic from us got having issues indirect business origination

Rahul Patil

I XXXX you about with stable, know you but now? that you I quarter, but comfortable still couple that earlier had rebound believe half discuss and last in a consensus then in had indicated I time believe just talked that guidance. X.XX right NIM of then, the cards rate are of around assumed update? that first Could level 'XX your estimate was you for And that X.XX full-year you Okay. reasonable,

Zach Wasserman

that question. Zach. the for This thanks answer is one. I'll Yes,

in we at with the the still today remarks. guidance prepared the talked X.XX December in reiterated Sachs conference, is and answer approximately about we comfortable Goldman yes, that just the So, are

the We to kicking expect first be into quarter. the trajectory higher of that

stabilizing big level There year. and drivers that. second by that balance around level So, of around is that a really the oscillating of through the mid then quarter, couple

the talked that most the the maturity about $X prepared QX we've deposit of re-pricing re-pricing So, QX. in remarks, substantial roughly the is other which $X there's re-pricing billion and billion in of in

And pleased is we're the so really proceeding that, on plans. both the far, with pricing to and our according which retention

The other factor, it's the earlier. little discussed smaller, but still pick-up helpful is the that got we we XX repositioning basis points on of securities

helping two those are NIM So, and to back what factors the that XXX. to driving us to get

With that a we're being said, there's of factors couple watching.

to new very Asset residential, around carefully. on auto want that's something them, see look and them your continue at question production, but yields we we we where previous

to Those I rate in on for remarks, is, the could one to the seeing that as biggest other it's are higher our cause lower factors prepared we’ll volume again, in watch. something X.XX. the or we're that mentioned deposit my The costs, continue but the expectation, be NIM than that the trend

Rahul Patil

And I want assuming to and thing, rate one a the summer cut is -- this that just cut clarify Okay. then, of year? in

Zach Wasserman

late assuming Fed one summertime over the flat, and going that roughly be mentioned, which Funds we're November the in had look if it's exists it's the rate I precisely if period, [indiscernible]. curve but that essentially forward even cut you Yes, at as expectation, that to

Rahul Patil

Thank you. Perfect. Okay.

Operator

comes the your question Usdin line proceed next of with Our from question. Please Jefferies. with [Operator Ken Instructions]

Ken Usdin

morning. Good guys. thanks, Hey,

Steve Steinour

Hi, Ken.

Ken Usdin

coming morning, See more -- question you're of expecting question on the what One growth. good still growth, one deposit the deposit total from that's things. core for I'm assuming on customer more side

You pricing, and from just your re-price, happening mentioned to the deposit scheduled from what's that's down can coming is just if to rollovers? going you're the about as just underneath you aside far core as markets $X know, talk billion re-price in that's also that you underlying still what going

Steve Steinour

Yes, said, be re-pricing much we're being think I taking we're down, also expectations our competitive. somewhat activity pretty -- I as in with line but the seeing

got and trend way. right right the now, that assumed for we've we're So and a plan seeing we environment in

Ken Usdin

Yes…

Mark Muth

coming is and the retention Ken this I pricing little a we're have is say the consumer on see as side, aggressive better better on that very generally and re-pricing Mark. to would side commercial then competitive. which is what more and would more we the with us both rational, be expected, allowed has seeing do we in

is to the If out some the large you on of side. commercial the point to as commercial the were dollar it result we're of consumer with those allowed on particular competitive side, in we've leave your the deposit of issues side, definitely having to there, success just bank some and on a

Ken Usdin

environment Got of in on just of sheet, book/back the a pretty stable rates more question the what talk it, do to book? growth deposit dynamics of And in securities your then, of your -- you pretty front okay. size good both balance one portfolio, underlying mix growth, and with loan good and happening the see terms you can the about

Zach Wasserman

securities expectations constant is the at, the this the that's we material change, So, are at from point. we -- roughly expectation and for where like where No we're Zach, this today. portfolio

of back part book… the second The was question --

Ken Usdin

where and rates low, they in happening are -- the stay on, off Thanks. Rolling dynamic there? how securities what's here stay if your from rolling

Zach Wasserman

don't me. offline. Yes, of right I've take Ken, Let's downstairs. that I in detail front have got that that

So, with I'll follow-up on you that.

Ken Usdin

Okay. Thank you, guys.

Zach Wasserman

you. Thank

Operator

Ladies end would closing for turn and I the remarks. like Steve have the question-and-answer Steinour back to gentlemen, session. of call we reached to the

Steve Steinour

for our the execute about pleased prospects performance, the faced, challenges bank active strategies, our environmental and confident our we XXXX. continues to on XXXX our I'm with particularly management position, given

in strategic executing continued prudent and plan are businesses investing leverage. priorities operating growth, thoughtfully organic while for top Our our our positive delivering annual

value finally, risk collectively to board, disciplined XX management. colleagues, of end top focus colleagues performance shareholders. our all of on our a focused through high building long-term and top with shareholder appropriately And are are reminder The consistently to a and a clearly us Huntington, diligent between quartile management, driving on are alignment level board a always there's of and the sustained shareholder We shareholders, long-term and like financial we our performance.

Have interest thank you Huntington. in your So, a for great day.

Operator

today's conference. concludes This

at time. lines your your Thank disconnect You this you may participation. for

Huntington Bancshares (HBAN) 23 Jan 202019 Q4 Earnings call transcript