Huntington Bancshares Incorporated (NASDAQ:HBAN) Q4 2014 Earnings Conference Call - Final Transcript

Jan 22, 2015 • 10:00 am ET


Huntington Bancshares Incorporated (NASDAQ:HBAN) Q4 2014 Earnings Conference Call - Final Transcript


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Good morning. My name is Anastasia and I will be your conference operator today. At this time I would like to welcome everyone to the Huntington Bancshares' Fourth Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator instructions] Thank you.

Todd Beekman, Director of Investor Relations. You may begin your conference.

Todd Beekman

Thank you, Anastasia and welcome. I'm Todd Beekman, the Managing Director of Strategy and Investor Relations for Huntington. Copies of the slides that we will be reviewing can be found on our website at This call is being recorded and will be available as a rebroadcast starting about an hour after the close of the call.

Slides two and three have several aspects, basis of today's presentation. I encourage you to read these, but let me point out one key disclosure.This presentation will reference non-GAAP financial measures. And in that regard, I direct you to comparable GAAP financial measures and a reconciliation to comparable GAAP financial measures within the presentation, initial earnings-related material we released this morning and related 8-K filed today, all of which can be found on our website.

Turning to slide four, today's discussion, including the Q&A period, will contain forward-looking statements.Such statements are based on information and assumptions available at this time and are subject to changes, risks and uncertainties, which may cause actual results to differ materially. We assume no obligation to update such statements. For a complete discussion of risks and uncertainties, please refer to this slide, material filed with the SEC including our most recent 10-K, 10-Q and 8-K filings.

As noted on slide five, presenters today are Steve Steinour, Chairman, President and CEO; and Mac McCullough, Chief Financial Officer; Dan Neumeyer, Chief Credit Officer will also participate in Q&A portion of the call.

Let's get started by turning to slide six. Steve?

Stephen Steinour

Thanks, Todd. I'd like to thank everyone on the call for joining us today. At Huntington, we enjoy a unique and advantaged position in the industry and we believe our future is bright. We're focused on executing our strategic plan and we're very pleased with results we are achieving. For the past several years, we've invested in the Company at a time when most of the industry's been pulling back. We've expanded and optimized our distribution, both physical and digital. We've invested in small business and commercial specialty lending verticals. We've added new products such as our consumer and commercial credit cards and our new business in consumer checking accounts. And each represents just a handful of the investments we've made. Our 2014 earnings reflected results from these investments, yet significant opportunity remains as none of these investments are mature. We have a strong outlook for the future.

Slides six and seven show some of the financial highlights of the full year and the fourth quarter. Mac will go through more of the detail shortly, but I wanted to highlight a