Huntington Bancshares Inc. auto originations were up to $1.55 billion in the second quarter – a 12.6% growth over the same time a year prior, according to the bank’s earnings, released today. Outstandings were at $10.4 billion, up from $8.6 from the same time a year prior.
Delinquencies, both 30 days and 90 days past due, remained relatively unchanged year over year, at 0.78% and 0.05% respectively.
Huntington’s auto portfolio has continued to grow while maintaining “long term underwriting consistency and discipline,” according to Mac McCullough, the bank’s chief financial officer.
“The underwriting has not changed and our credit performance remains superior,” he said. “Our auto portfolio continues to demonstrate industry-leading performance.”
Huntington increased its marketshare in the Midwest through the acquisition of Akron, Ohio-based FirstMerit Bank in January, and currently works with 4,100 dealers, according to its earnings release.Like This Post