Regional banks report Q1 earnings: Live coverage

Huntington's first-quarter profit totaled $527 million, up 26% from the same period last year. The increase was driven by strong loan and deposit growth, which pushed net interest income 11% higher, to $1.43 billion.

At the same time, Huntington succeeded in controlling costs, limiting year-over-year growth in operating expenses to 1%.

Huntington reiterated full-year guidance for the most part, but it increased its forecast for net interest income, calling for growth in the 5%-7% range, up from the previous 4%-6% prediction.

"Our outlook for the year remains positive, as our organic growth continues to significantly outpace our peer group, driven by both our existing businesses and new initiatives," CEO Steve Steinour said.

Indirect auto lending, one of Huntington's most venerable business lines, produced solid first-quarter results, with loan originations of $2 billion, up 25% from a year ago. Period-ended auto loans totaled $14.9 billion, about 11% of Huntington's total loans and leases

Fifth Third revised its guidance for 2025 as the bank prepared for increased economic uncertainty.

It now anticipates loans to grow 4%-5% this year, up from its previous forecast of 3%-4%, while the Cincinnati, Ohio-based bank lowered its expense guidance to 2%-3% from 3%-4% previously.

Fifth Third also said fee income wouldn't be as high as anticipated, now estimating a 1%-3% increase, instead of a 3%-6%.

First-quarter earnings per share came in at 71 cents, just ahead of analyst estimates of 70 cents. EPS was 1 cent higher than a year ago.

CEO Tim Spence said in a prepared statement that the bank is managing credit risk and stress testing its portfolio under many scenarios.

"This environment of increased economic uncertainty has reinforced the importance of building a bank that produces strong through-the-cycle returns across a range of potential outcomes," Spence said. "As we navigate this environment, we will continue to follow our operating principles of stability, profitability, and growth — in that order."

Ally Financial reported $1.54 billion in revenue for the first quarter, down from $1.99 billion in the same period a year prior. That number fell short of expectations of analysts polled by S&P, who expected $1.97 billion.

The decline in revenue was driven by the $500 million non-core securities restructuring, the bank said.

Chief Executive Officer Michael Rhodes, who joined the company in April 2024, called the results "solid" and a reflection of the bank's refocus on core products.

"Our performance demonstrates the importance of our focused approach, disciplined execution, and unwavering commitment to delivering value for our customers and shareholders," Rhodes said.

Ally at the beginning of the year said it was switching gears to focus again on its core functions of consumer auto lending and checking and savings accounts.

In January, it announced an agreement to sell its credit card portfolio to Cardworks, which owns Merrick Bank. The deal closed at the beginning of this month. Ally only briefly waded into credit cards, having bought the portfolio at the end of 2021.

Ally also announced it will stop making new mortgage loans.

A 6% year-over-year increase in fee revenue helped offset flat net interest income in the first quarter, reflecting "broad based strength across the franchise," according to State Street.

Net interest income landed at $714 million in the first quarter.

Servicing fee revenue increased 4% year over year; management fees increased 10%; FX trading services fees increased 9%; securities finance fees increased 19%; and software and processing fees increased 9%. Other fee revenue decreased 36%.

For net interest income, lower average short-end rates and a deposit mix shift offset higher investment security yields and continued loan growth.

Investment Servicing assets under custody and/or administration increased 6% to $46.7 trillion, driven by "higher quarter-end market levels and flows." Investment Management assets under management rose 9% to $4.7 trillion, also buoyed by higher quarter-end market levels and net inflows.