Huntington Bancshares (NASDAQ: HBAN) reported Q1 EPS of $0.32, in-line with the analyst estimate of $0.32. Revenue for the quarter came in at $1.15 billion versus the consensus estimate of $1.16 billion.

"We had a solid start to the year and are encouraged by the strong balance sheet growth in the first quarter, reflecting the underlying growth of the economies in our footprint," said Steve Steinour, chairman, president, and CEO. "Huntington is performing well as EPS increased 14% and total revenue increased 5% from the year-ago quarter. We are executing on our strategies and continue to make meaningful investments to drive organic revenue growth and to better serve our customers with enhanced digital technology."

"Average loan growth of 6% year-over-year was driven by both consumer and commercial lending. Commercial and industrial lending remained strong in the first quarter, building on momentum from year-end. Average deposits increased 8% year-over-year as we remain focused on funding growth with core deposits."

"Overall economic activity in our footprint continues to reflect a favorable outlook for both consumers and businesses. Our balance sheet growth expectations for 2019 remain unchanged. Our commercial loan pipelines are steady, and we are seeing the normal seasonal build in our consumer pipelines. Competition for loans and deposits is rational. We do not foresee a recession in the near term; however, our core earnings power, strong capital, aggregate moderate-to-low risk appetite, and long-term strategic alignment position us to withstand economic headwinds," Steinour said.

2019 First Quarter Highlights compared with 2018 First Quarter:

• Fully-taxable equivalent total revenue increased $57 million, or 5%.
• Fully-taxable equivalent net interest income increased $52 million, or 7%.
• Net interest margin increased 9 basis points to 3.39%.
• Noninterest income increased $5 million, or 2%.
• Noninterest expense increased $20 million, or 3%.
• Efficiency ratio of 55.8%, down from 56.8%.
• Average loans and leases increased $4.3 billion, or 6%, year-over-year, including a $2.5 billion, or 7%, increase in consumer loans and a $1.8 billion, or 5%, increase in commercial loans.
• Average core deposits increased $5.6 billion, or 8%, year-over-year, driven by a $3.8 billion, or 164%, increase in core certificates of deposit and a $2.3 billion, or 11%, increase in money market deposits.
• Net charge-offs equated to 0.38% of average loans and leases, up from 0.21%.
• Nonperforming asset ratio of 0.61%, up from 0.59%.
• Common Equity Tier 1 (CET1) risk-based capital ratio of 9.84%, down from 10.45% and within our 9% to 10% operating guideline.
• Tangible common equity (TCE) ratio of 7.57%, down from 7.70%.
• Tangible book value per common share increased $0.55, or 8%, to $7.67.
• Repurchased $25 million of common stock (1.8 million shares at an average price of $13.64 per share).

For earnings history and earnings-related data on Huntington Bancshares (HBAN) click here.