Environmental, Social and Governance Report details how Huntington is driving real economic impact and stakeholder engagement across its footprint
COLUMBUS, Ohio, May 9, 2019 /PRNewswire/ -- Huntington Bancshares Incorporated (HBAN) has published its 2018 Environmental, Social and Governance (ESG) Report, which highlights how Huntington's commitment to shareholders, customers, colleagues and communities leads to meaningful economic impact in its local markets throughout the Midwest.
The ESG report provides a comprehensive, fully transparent review of the progress Huntington is making toward its Environmental, Social and Governance strategy, with an emphasis on economic outcomes for customers and communities. Huntington's integrated approach to these critical areas is essential to delivering sustainable, long-term value to investors.
"At Huntington, our purpose is to look out for people. Every day, our highly engaged colleagues are committed to making people's lives better, helping businesses thrive and strengthening the communities we serve. This enables us to deliver long-term value to our investors and to create shared economic value locally where we operate," said Steve Steinour, chairman, president and CEO. "Because we're purpose-driven in all we do, we're able to align the interests of the many stakeholders Huntington serves."
The economic benefit Huntington provides individuals, families, businesses and communities reflects the bank's purpose to look out for people. Economic highlights for 2018 include:
- Building Economically Inclusive Communities and Neighborhoods: Huntington has achieved 60 percent of its transformational, five-year, $16.1 billion community development plan in just the second year. In 2018, the bank committed nearly $1 billion in community development loans and investments supporting affordable housing across the Midwest – reflecting the bank's total focus on mortgage lending, transportation and the support of small- and medium-sized businesses. This ambitious, people-focused commitment increases affordable housing rentals and homeownership, and transforms neighborhoods. Huntington's commitment to serving homeowners and building vibrant communities is reflected in its "Outstanding" rating under the U.S. Community Reinvestment Act.
- Fueling America's Small Business Engine: Huntington is once again the #1 originator of small-business loans through the Small Business Administration's 7(a) loan program in the markets we serve.* Huntington backs up its lending commitment with excellent service, earning the #1 spot in the Midwest in the J.D. Power 2018 U.S. Small Business Banking Satisfaction Study. Huntington's robust support of small business promotes job growth in a sector that accounts for two out of every three new jobs in America.
- Extending a Hand to Entrepreneurs: Microlending – loans from as little as a few thousand dollars up to $250,000 – helps turn the dreams of entrepreneurs into reality. Huntington is an industry leader in microlending and in 2018 made nearly 3,500 loans in this category. Additionally, at the end of 2018, thousands of entrepreneurs were enjoying the benefits of Huntington's Voice Business Credit Card,SM which is tailored to their needs and helps them dream even bigger.
Other highlights from the 2018 ESG report that illustrate the progress Huntington is making under its "Purpose Drives Performance" approach to serving stakeholders include:
- Reporting 2018 net income of $1.39 billion, with per-share earnings of $1.20, a 20 percent increase from 2017
- Investing in colleagues, including raising the minimum starting hourly wage to $16 in 2019, enhancing health-care plans, and extending family leave
- Achieving 42 percent gender and racial diversity in middle and executive management on the way to its 2021 goal of 50 percent; achieving overall workforce diversity of 67 percent
- Increasing spending with diverse suppliers by 32 percent over 2017, representing 26 percent of the bank's total supplier spending and supporting more than 2,100 jobs
- Reducing Huntington's environmental impact through completion of nearly 600 environmental sustainability projects and growing the number of ENERGY STAR® certified facilities from 50 to 117
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $108 billion of assets and a network of 898 full-service branches, including 12 Private Client Group offices, and 1,727 ATMs across eight Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states. Visit huntington.com for more information.
*Small Business Administration (SBA) loans subject to eligibility. Huntington is the #1 SBA 7(a) lender in the region made up of Illinois, Indiana, Kentucky, Ohio, Michigan, West Virginia, Western Pennsylvania and Wisconsin. Source: U.S. Small Business Administration from October 1, 2008, to September 30, 2018. Huntington is #1 in the nation in number of SBA 7(a) loans for fiscal year ending September 30, 2018.
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