Huntington Bancshares HBAN reported second-quarter 2018 earnings per share of 30 cents, beating the Zacks Consensus Estimate by a penny. Also, the figure came in higher than the prior-year quarter adjusted earnings of 26 cents.Results were driven by higher revenues. Continued growth in both loan and deposit balances was also recorded. However, higher expenses and provisions were the primary headwinds.Net income surged nearly 30.5% year over year to $355 million during the quarter.Revenues, Loans & Deposits ImproveThe company’s total revenues on a fully taxable-equivalent (FTE) basis came in at $1,127 million, up 4% from the year-ago quarter. The Zacks Consensus Estimate was pegged at $1,129 million.Net interest income (NII) came in at $791 million on a FTE basis, up 4% from the prior-year quarter. The rise was driven by an increase in average earnings assets. However, net interest margin (NIM) contracted 2 basis points (bps) to 3.29% year over year.Non-interest income inched up 3% year over year to $336 million. The upsurge mainly stemmed from growth in capital-market fees, gain on sale of loans, cards and payment processing income, along with trust and investment-management services.Adjusted non-interest expenses rose 1% to $652 million on a year-over-year basis. The increase stemmed from a rise in personnel and professional costs. Including the impact of certain non-recurring items, non-interest expense dropped 6% year over year.As of Jun 30, 2018, average loans and leases at Huntington jumped nearly 2% sequentially to $71.9 billion. Also, average core deposits increased 2.7% from prior quarter to $75.4 billion.Credit Quality: A Mixed BagNet charge-offs were $28 million or an annualized 0.16% of average total loans in the reported quarter, down from $36 million or an annualized 0.21% recorded in the year-ago quarter. In addition, total non-performing assets totaled $412 million as of Jun 30, 2018, down nearly 1% from year-ago quarter.However, the quarter-end allowance for credit losses, as a percentage of total loans and leases, increased to 1.15% from 1.11% in the year-earlier quarter. Also, provision for credit losses was up significantly on a year-over year basis to $56 million.Strong Capital RatiosHuntington’s capital ratios remained strong.Common equity tier 1 risk-based capital ratio and regulatory Tier 1 risk-based capital ratio were 10.53% and 11.99%, respectively, compared with 9.88% and 11.24% reported in the year-ago quarter.Tangible common equity to tangible assets ratio was 7.78%, up from 7.41% on Jun 30, 2017.Outlook for 2018With improving macroeconomic environment and the company’s accomplishment of its core strategies, total revenues for full-year 2018 are projected to be up in the range of 5-6%. Non-interest expenses are anticipated to be down 3-4%.NIM for 2018 is estimated to expand 2-4 bps from the prior year, on a GAAP basis, as expansion in core NIM might offset the reduced benefit of purchase accounting. Further, efficiency ratio is projected to be 55.5-56.5%.Management predicts average loans and leases to increase in the 5.5-6.5% band on an annual basis, while average deposits are expected to be up 3.5-4.5%.Overall, asset quality metrics are likely to remain stable with moderate quarterly volatility, given the current low level of problem assets and credit costs.The effective tax rate for remaining 2018 is estimated in the range of 15.5-16.5%.Our ViewpointHuntington reported an encouraging quarter. The company, which has a solid franchise in the Midwest, is focused on capitalizing on its growth opportunities. Furthermore, it exhibits consistent efforts in increasing loan and deposit balances, aiding revenue growth. Additionally, we remain optimistic about the company’s several strategic actions, including acquisitions and consolidation of branches.Further, controlled costs and stable credit metrics act as tailwinds for its financials.Huntington Bancshares Incorporated Price, Consensus and EPS Surprise Huntington Bancshares Incorporated Price, Consensus and EPS Surprise | Huntington Bancshares Incorporated QuoteCurrently, Huntington carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performance of Other BanksSignature Bank’s SBNY second-quarter 2018 adjusted earnings per share of $2.82 surpassed the Zacks Consensus Estimate of $2.80. Also, it compares favorably with $2.21 earned in the prior-year quarter.Webster Financial WBS delivered a positive earnings surprise of 5.7% in second-quarter 2018. Adjusted earnings per share of 92 cents surpassed the Zacks Consensus Estimate of 87 cents.Riding on high revenues, Regions Financial Corporation RF came up with an impressive earnings surprise of 3% in second-quarter 2018. Adjusted earnings of 34 cents per share outpaced the Zacks Consensus Estimate by a penny. Including certain one-time items, earnings came in at 32 cents, up 28% year over year.More Stock News: This Is Bigger than the iPhone!It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.Click here for the 6 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Huntington Bancshares Incorporated (HBAN): Free Stock Analysis Report Signature Bank (SBNY): Free Stock Analysis Report Webster Financial Corporation (WBS): Free Stock Analysis Report Regions Financial Corporation (RF): Free Stock Analysis Report To read this article on Zacks.com click here.