Huntington Bancshares Incorporated (NASDAQ:HBAN) Q4 2022 Earnings Call Transcript

Matt O’Connor: Okay. And then as we think about potential uses of the capital besides buyback, just remind us your appetite for bolt-on deals and I guess, specifically within fees, right? Because we kind of step back right now in net interest income, maybe it’s not peaking, but it’s probably not going to be a key driver of growth as we get through this year and beyond? And I know you guys have been talking about kind of better balancing some of that fee mix over time. So what’s the appetite to do something, whether it’s small or maybe bigger than you find in the past?

A €“Steve Steinour: Matt, it’s Steve. We are interested in building our fee income opportunities and net revenue stream. And so if we can find things that we think make sense, that would enhance our current business lines and/or what we can offer to our customers, we would be interested. Just as last year, we were fortunate to get cash on the board and a fintech opinions So we’ll be looking at the as the year progresses, whether it makes sense to the acquisition on the fee side of our businesses. But that’s not sort of an intended set aside on that buyback conclusions that just related. Our capital priorities haven’t changed.

Operator: Thank you. At this time, we’ve reached the end of the question-and-answer session. And I will now turn the floor back to Mr. Steinour for closing remarks.

Steve Steinour : So thank you very much for joining us today. As you know, we’re very pleased with the record year for Huntington and a third straight quarter of record net income, fourth straight quarter of PPNR growth. We come into this year with a lot of momentum. We think we’re well positioned to manage through a model recession, and we remain committed to and confident of our ability to continue creating value for our shareholders. And as a reminder, the Board executives, our colleagues are a top 10 shareholder collectively, reflecting our strong alignment, strong alignment with our shareholders. So thank you for your support and interest in Huntington. Have a great day.

Operator: This concludes today’s conference. You may disconnect at this time, and thank you for your participation.