At June 30, 2024, our loans and leases totaled $124.4 billion, representing a $2.4 billion, or 2%, increase compared to $122.0 billion at December 31, 2023. This indicates continued growth in the loan portfolio.

Core deposits were $147.5 billion at June 30, 2024 which comprised 96% of total deposits, compared to $145.5 billion, and 96% of total deposits, at December 31, 2023. The $2.1 billion, or 1%, increase in core deposits, compared to December 31, 2023 was primarily driven by an increase in money market deposits.

As part of the 2024 Capital Plan and our current expectation that organic capital will be used for funding loan and lease growth and proposed changes to regulatory capital requirements, we do not expect to utilize the share repurchase program through 2024. However, we may at our discretion resume share repurchases at any time while considering factors including, but not limited to, capital requirements and market conditions.

In June 2024, the FDIC adopted a final rule to modify the required frequency and informational content of resolution plan submissions applicable to insured depository institutions with $50 billion or more in total assets. This requires increased compliance efforts.

Our quarterly results reflect continued execution of our growth strategy and leveraging the strength of our balance sheet, delivered through increasing deposit and loan balances, in addition to expanding net interest income and noninterest income. We have continued our disciplined approach to managing credit quality consistent with our aggregate moderate-to-low, through-the-cycle risk appetite.

At June 30, 2024, management believes current sources of liquidity are sufficient to meet Huntington's on and off-balance sheet obligations.

The marginal reduction in the ACL coverage ratio at June 30, 2024 is reflective of the current macro-economic environment and changes in various risk profiles intended to capture uncertainty not addressed within the quantitative reserve.

Given the uncertainty associated with key economic scenario assumptions, the June 30, 2024 ACL included a general reserve that consists of various risk profile components, including profiles to capture uncertainty not addressed within the quantitative transaction reserve.

Management continues to assess the uncertainty in the macroeconomic environment, including ongoing risks in the commercial real estate environment, current inflation levels, political uncertainty, and geopolitical instability, considering multiple macroeconomic forecasts that reflect a range of possible outcomes.

Our general business objectives are to: Deliver a Category of One customer experience through our distinguished brand and culture; Extend our digital leadership with focus on ease of use, access to information, and self-service across products and services.

Our general business objectives are to: Leverage expertise and capabilities to acquire and deepen relationships and launch of select partnerships.

Our general business objectives are to: Maintain positive operating leverage and execute disciplined capital management.

Personnel costs increased $50 million, or 8%, primarily due to higher salary, incentive compensation, and benefit expense.

Outside data processing and other services increased $17 million, or 11%, reflecting higher technology and data expense.

In addition, the second quarter of 2024 included $6 million of additional expense attributable to the FDIC DIF special assessment within deposit and other insurance expense.

Our general business objectives are to: Extend our digital leadership with focus on ease of use, access to information, and self-service across products and services.

Outside data processing and other services increased $17 million, or 11%, reflecting higher technology and data expense.

Cybersecurity represents an important component of Huntington's overall cross-functional approach to risk management.

Consolidated CET1 risk-based capital ratio increased to 10.4%, compared to the prior year end of 10.2%, due primarily to current period earnings, net of dividends, partially offset by the CECL transitional amount and a modest increase in risk-weighted assets.

The CLN transaction reduced risk-weighted assets by approximately $3.0 billion, representing a 76% reduction in the risk-weighting on the selected pool of assets.

As part of the 2024 Capital Plan and our current expectation that organic capital will be used for funding loan and lease growth and proposed changes to regulatory capital requirements, we do not expect to utilize the share repurchase program through 2024.

The filing does not contain a dedicated section or significant discussion of specific ESG initiatives.

The filing mentions community reinvestment but does not provide extensive details on social responsibility initiatives.

The filing does not contain information on environmental commitments or sustainability risks and opportunities.

The Federal Reserve has repeatedly stated that economic data will drive their decision making process for rates, and there are signs that the data is beginning to shift.

There are more signs of the economy cooling, with economic growth expected to decline in the near future.

With remote work options leading to increased vacancy rates and underutilization of office space across the country, the office sector continues to be an area of uncertainty.