Huntington Bancshares Prepares for FDIC Assessment, Declares Dividend

Huntington Bancshares (HBAN) has issued an announcement.

Huntington Bancshares Incorporated has set aside funds to cover a special assessment by the FDIC, calculated based on uninsured deposits as of December 31, 2022, to recover losses from bank failures in early 2023. Initially, Huntington accrued $214 million for this purpose but expects an additional pre-tax expense of about $32 million due to updated FDIC estimates following the collapse of Silicon Valley Bank and Signature Bank. Additionally, the company declared a quarterly cash dividend on its Series I Preferred Stock, payable in June 2024 to shareholders on record by mid-May.

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