LOANS AND LEASES

v3.25.1

LOANS AND LEASES	3 Months Ended
	Mar. 31, 2025
Receivables [Abstract]
LOANS AND LEASES	LOANS AND LEASES The following table provides a detailed listing of Huntington’s loan and lease portfolio. (dollar amounts in millions) At March 31, 2025 At December 31, 2024 Commercial loan and lease portfolio: Commercial and industrial $ 58,948  $ 56,809  Commercial real estate 10,968  11,078  Lease financing 5,451  5,454  Total commercial loan and lease portfolio 75,367  73,341  Consumer loan portfolio: Residential mortgage 24,369  24,242  Automobile 14,877  14,564  Home equity 10,130  10,142  RV and marine 5,939  5,982  Other consumer 1,823  1,771  Total consumer loan portfolio 57,138  56,701  Total loans and leases (1)(2) 132,505  130,042  Allowance for loan and lease losses (2,263) (2,244) Net loans and leases $ 130,242  $ 127,798  (1)Loans and leases are reported at principal amount outstanding, including unamortized purchase premiums and discounts, unearned income, and net direct fees and costs associated with originating and acquiring loans and leases. The aggregate amount of these loan and lease adjustments was a net discount of $509 million and $468 million at March 31, 2025 and December 31, 2024, respectively. (2)The total amount of accrued interest recorded for these loans and leases at March 31, 2025 was $313 million and $236 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2024 was $316 million and $235 million of commercial and consumer loan and lease portfolios, respectively. Accrued interest is presented in accrued income and other receivables within the Unaudited Consolidated Balance Sheets. Lease Financing The following table presents net investments in lease financing receivables by category. (dollar amounts in millions) At March 31, 2025 At December 31, 2024 Lease payments receivable $ 5,160  $ 5,189  Estimated residual value of leased assets 924  884  Gross investment in lease financing receivables 6,084  6,073  Deferred origination costs 54  56  Deferred fees, unearned income, and other (687) (675) Total lease financing receivables $ 5,451  $ 5,454  The carrying value of residual values guaranteed was $490 million and $517 million as of March 31, 2025 and December 31, 2024, respectively. The future lease rental payments due from customers on direct financing leases at March 31, 2025 totaled $5.2 billion and were due as follows: $700 million in 2025, $988 million in 2026, $972 million in 2027, $992 million in 2028, $814 million in 2029, and $694 million thereafter. Interest income recognized for these types of leases was $89 million and $79 million for the three-month periods ended March 31, 2025 and 2024, respectively. Nonaccrual and Past Due Loans and Leases The following table presents NALs by class. At March 31, 2025 At December 31, 2024 (dollar amounts in millions) Nonaccrual loans and leases with no ACL Total nonaccrual loans and leases Nonaccrual loans and leases with no ACL Total nonaccrual loans and leases Commercial and industrial $ 51  $ 413  $ 71  $ 457  Commercial real estate 74  118  75  118  Lease financing 1  11  —  10  Residential mortgage —  90  —  83  Automobile —  4  —  6  Home equity —  110  —  107  RV and marine —  2  —  2  Total nonaccrual loans and leases $ 126  $ 748  $ 146  $ 783  The following table presents an aging analysis of loans and leases, by class. Past Due (1)  Loans Accounted for Under FVO Total Loans and Leases 90 or more days past due and accruing (dollar amounts in millions) 30-59  Days 60-89  Days 90 or  more days Total Current At March 31, 2025 Commercial and industrial $ 137  $ 54  $ 222  $ 413  $ 58,535  $ —  $ 58,948  $ 2  (2) Commercial real estate 17  1  31  49  10,919  —  10,968  —  Lease financing 46  29  11  86  5,365  —  5,451  8  Residential mortgage 228  91  234  553  23,641  175  24,369  177  (3) Automobile 99  21  11  131  14,746  —  14,877  8  Home equity 52  27  92  171  9,959  —  10,130  18  RV and marine 22  6  4  32  5,907  —  5,939  3  Other consumer 13  5  4  22  1,801  —  1,823  4  Total loans and leases $ 614  $ 234  $ 609  $ 1,457  $ 130,873  $ 175  $ 132,505  $ 220  At December 31, 2024 Commercial and industrial $ 96  $ 46  $ 232  $ 374  $ 56,435  $ —  $ 56,809  $ 3  (2) Commercial real estate 35  —  39  74  11,004  —  11,078  —  Lease financing 56  23  14  93  5,361  —  5,454  11  Residential mortgage 196  98  242  536  23,533  173  24,242  185  (3) Automobile 117  27  16  160  14,404  —  14,564  12  Home equity 64  32  92  188  9,954  —  10,142  20  RV and marine 26  7  5  38  5,944  —  5,982  4  Other consumer 13  5  4  22  1,749  —  1,771  4  Total loans and leases $ 603  $ 238  $ 644  $ 1,485  $ 128,384  $ 173  $ 130,042  $ 239  (1)NALs are included in this aging analysis based on the loan’s past due status. (2)Amounts include SBA loans and leases. (3)Amounts include mortgage loans insured by U.S. government agencies. Credit Quality Indicators Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. See Note 4 - “Loans and Leases” to the Consolidated Financial Statements appearing in Huntington’s 2024 Annual Report on Form 10-K for a description of the credit quality indicators Huntington utilizes for monitoring credit quality and for determining an appropriate ACL level. The following tables present the amortized cost basis of loans and leases by vintage and internally defined credit quality indicator. At March 31, 2025 Term Loans Amortized Cost Basis by Origination Year Revolver Total at Amortized Cost Basis Revolver Total Converted to Term Loans (dollar amounts in millions) 2025 2024 2023 2022 2021 Prior Total Commercial and industrial Credit Quality Indicator: Pass $ 5,599  $ 13,302  $ 6,845  $ 5,797  $ 2,191  $ 3,048  $ 18,636  $ 6  $ 55,424  OLEM 26  169  88  75  16  31  200  —  605  Substandard 173  507  394  433  217  198  976  —  2,898  Doubtful —  —  —  1  —  —  20  —  21  Total Commercial and industrial $ 5,798  $ 13,978  $ 7,327  $ 6,306  $ 2,424  $ 3,277  $ 19,832  $ 6  $ 58,948  Commercial real estate Credit Quality Indicator: Pass $ 545  $ 1,435  $ 1,008  $ 2,269  $ 1,195  $ 2,637  $ 644  $ —  $ 9,733  OLEM 19  6  112  202  44  106  46  —  535  Substandard 48  123  60  275  62  121  11  —  700  Total Commercial real estate $ 612  $ 1,564  $ 1,180  $ 2,746  $ 1,301  $ 2,864  $ 701  $ —  $ 10,968  Lease financing Credit Quality Indicator: Pass $ 244  $ 1,931  $ 1,373  $ 774  $ 531  $ 526  $ —  $ —  $ 5,379  OLEM —  3  5  3  3  3  —  —  17  Substandard 2  3  12  21  4  13  —  —  55  Total Lease financing $ 246  $ 1,937  $ 1,390  $ 798  $ 538  $ 542  $ —  $ —  $ 5,451  Residential mortgage Credit Quality Indicator: 750+ $ 353  $ 1,831  $ 2,223  $ 3,884  $ 5,532  $ 5,383  $ —  $ —  $ 19,206  650-749 140  710  487  685  748  1,196  —  —  3,966  <650 11  66  77  129  112  627  —  —  1,022  Total Residential mortgage $ 504  $ 2,607  $ 2,787  $ 4,698  $ 6,392  $ 7,206  $ —  $ —  $ 24,194  Automobile Credit Quality Indicator: 750+ $ 1,186  $ 3,558  $ 1,492  $ 1,186  $ 778  $ 335  $ —  $ —  $ 8,535  650-749 614  2,463  863  618  387  160  —  —  5,105  <650 60  417  245  238  185  92  —  —  1,237  Total Automobile $ 1,860  $ 6,438  $ 2,600  $ 2,042  $ 1,350  $ 587  $ —  $ —  $ 14,877  Home equity Credit Quality Indicator: 750+ $ 39  $ 206  $ 302  $ 362  $ 429  $ 626  $ 4,579  $ 225  $ 6,768  650-749 22  67  89  74  49  118  2,074  211  2,704  <650 —  3  10  11  5  43  445  141  658  Total Home equity $ 61  $ 276  $ 401  $ 447  $ 483  $ 787  $ 7,098  $ 577  $ 10,130  RV and marine Credit Quality Indicator: 750+ $ 219  $ 858  $ 856  $ 782  $ 684  $ 1,109  $ —  $ —  $ 4,508  650-749 28  254  253  193  192  332  —  —  1,252  <650 —  13  26  26  36  78  —  —  179  Total RV and marine $ 247  $ 1,125  $ 1,135  $ 1,001  $ 912  $ 1,519  $ —  $ —  $ 5,939  Other consumer Credit Quality Indicator: 750+ $ 125  $ 259  $ 84  $ 41  $ 18  $ 54  $ 451  $ 2  $ 1,034  650-749 55  135  48  19  7  11  422  4  701  <650 1  12  10  4  2  1  52  6  88  Total Other consumer $ 181  $ 406  $ 142  $ 64  $ 27  $ 66  $ 925  $ 12  $ 1,823  At December 31, 2024 Term Loans Amortized Cost Basis by Origination Year Revolver Total at Amortized Cost Basis Revolver Total Converted to Term Loans (dollar amounts in millions) 2024 2023 2022 2021 2020 Prior Total Commercial and industrial Credit Quality Indicator: Pass $ 16,097  $ 7,939  $ 6,587  $ 2,747  $ 1,708  $ 1,846  $ 16,790  $ 4  $ 53,718  OLEM 124  80  82  24  7  23  273  —  613  Substandard 445  385  440  209  107  164  690  —  2,440  Doubtful —  —  2  —  —  —  36  —  38  Total Commercial and industrial $ 16,666  $ 8,404  $ 7,111  $ 2,980  $ 1,822  $ 2,033  $ 17,789  $ 4  $ 56,809  Commercial real estate Credit Quality Indicator: Pass $ 1,415  $ 1,010  $ 2,754  $ 1,380  $ 947  $ 1,877  $ 635  $ —  $ 10,018  OLEM —  78  114  66  2  64  4  —  328  Substandard 218  37  280  52  10  124  11  —  732  Total Commercial real estate $ 1,633  $ 1,125  $ 3,148  $ 1,498  $ 959  $ 2,065  $ 650  $ —  $ 11,078  Lease financing Credit Quality Indicator: Pass $ 2,100  $ 1,610  $ 709  $ 449  $ 349  $ 184  $ —  $ —  $ 5,401  OLEM 7  2  2  1  1  —  —  —  13  Substandard 1  6  23  2  7  1  —  —  40  Total Lease financing $ 2,108  $ 1,618  $ 734  $ 452  $ 357  $ 185  $ —  $ —  $ 5,454  Residential mortgage Credit Quality Indicator: 750+ $ 1,725  $ 2,249  $ 3,913  $ 5,617  $ 3,011  $ 2,525  $ —  $ —  $ 19,040  650-749 768  542  748  781  423  791  —  —  4,053  <650 55  64  111  110  68  568  —  —  976  Total Residential mortgage $ 2,548  $ 2,855  $ 4,772  $ 6,508  $ 3,502  $ 3,884  $ —  $ —  $ 24,069  Automobile Credit Quality Indicator: 750+ $ 4,091  $ 1,663  $ 1,343  $ 920  $ 347  $ 113  $ —  $ —  $ 8,477  650-749 2,560  981  716  459  159  56  —  —  4,931  <650 336  250  252  205  76  37  —  —  1,156  Total Automobile $ 6,987  $ 2,894  $ 2,311  $ 1,584  $ 582  $ 206  $ —  $ —  $ 14,564  Home equity Credit Quality Indicator: 750+ $ 214  $ 323  $ 378  $ 445  $ 466  $ 195  $ 4,581  $ 226  $ 6,828  650-749 70  92  74  50  44  78  2,051  214  2,673  <650 2  8  11  6  4  40  431  139  641  Total Home equity $ 286  $ 423  $ 463  $ 501  $ 514  $ 313  $ 7,063  $ 579  $ 10,142  RV and marine Credit Quality Indicator: 750+ $ 928  $ 909  $ 816  $ 718  $ 476  $ 704  $ —  $ —  $ 4,551  650-749 247  268  201  198  123  226  —  —  1,263  <650 7  23  24  35  23  56  —  —  168  Total RV and marine $ 1,182  $ 1,200  $ 1,041  $ 951  $ 622  $ 986  $ —  $ —  $ 5,982  Other consumer Credit Quality Indicator: 750+ $ 321  $ 97  $ 48  $ 22  $ 10  $ 49  $ 467  $ —  $ 1,014  650-749 148  55  21  8  2  9  423  7  673  <650 9  10  5  2  1  1  48  8  84  Total Other consumer $ 478  $ 162  $ 74  $ 32  $ 13  $ 59  $ 938  $ 15  $ 1,771  The following tables present the gross charge-offs of loans and leases by vintage. Term Loans Gross Charge-offs by Origination Year Revolver Gross Charge-offs Revolver Converted to Term Loans Gross Charge-offs (dollar amounts in millions) 2025 2024 2023 2022 2021 Prior Total Three months ended March 31, 2025 Commercial and industrial $ —  $ 6  $ 8  $ 33  $ 3  $ 9  $ 9  $ 1  $ 69  Commercial real estate —  —  —  —  1  —  —  —  1  Lease financing —  1  1  2  —  —  —  —  4  Residential mortgage —  —  —  —  —  1  —  —  1  Automobile —  5  5  6  3  1  —  —  20  Home equity —  —  —  —  —  —  1  1  2  RV and marine —  —  2  1  2  4  —  —  9  Other consumer 1  6  5  2  1  3  —  9  27  Total $ 1  $ 18  $ 21  $ 44  $ 10  $ 18  $ 10  $ 11  $ 133  Term Loans Gross Charge-offs by Origination Year Revolver Gross Charge-offs Revolver Converted to Term Loans Gross Charge-offs (dollar amounts in millions) 2024 2023 2022 2021 2020 Prior Total Three months ended March 31, 2024 Commercial and industrial $ —  $ 5  $ 11  $ 15  $ 11  $ 2  $ 10  $ 1  $ 55  Commercial real estate —  1  9  1  —  6  —  —  17  Lease financing —  —  —  1  —  1  —  —  2  Residential mortgage —  —  —  —  —  1  —  —  1  Automobile —  4  5  4  2  —  —  —  15  Home equity —  —  —  —  —  —  —  2  2  RV and marine —  1  1  2  1  3  —  —  8  Other consumer 1  7  5  2  1  3  —  9  28  Total $ 1  $ 18  $ 31  $ 25  $ 15  $ 16  $ 10  $ 12  $ 128  Modifications to Debtors Experiencing Financial Difficulty See Note 4 - “Loans and Leases” to the Consolidated Financial Statements appearing in Huntington’s 2024 Annual Report on Form 10-K for a description of reported modification types and the impact on credit quality of borrowers experiencing financial difficulty. The following table summarizes the amortized cost basis of loans modified during the reporting period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of modification. Amortized Cost (dollar amounts in millions) Interest rate reduction Term extension Payment deferral Combo - interest rate reduction and term extension Total % of total loan class (1) Three months ended March 31, 2025 Commercial and industrial $ 47  $ 173  $ —  $ —  $ 220  0.37  % Commercial real estate —  97  —  —  97  0.88  Residential mortgage —  16  7  1  24  0.10  Automobile —  2  —  —  2  0.01  Home equity —  2  —  2  4  0.04  Other consumer 1  —  —  —  1  0.05  Total loans to borrowers experiencing financial difficulty to which modifications were made $ 48  $ 290  $ 7  $ 3  $ 348  0.26  % Three months ended March 31, 2024 Commercial and industrial $ 87  $ 154  $ —  $ 7  $ 248  0.48  % Commercial real estate —  31  —  —  31  0.25  Residential mortgage —  10  3  1  14  0.06  Automobile —  4  —  —  4  0.03  Home equity —  1  —  4  5  0.05  Total loans to borrowers experiencing financial difficulty to which modifications were made $ 87  $ 200  $ 3  $ 12  $ 302  0.25  % (1)Represents the amortized cost of loans modified during the reporting period as a percentage of the period-end loan balance by class. The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty. Interest Rate Reduction (1) Term Extension (1) Weighted-average contractual interest rate Weighted-average years added to the life From To Three months ended March 31, 2025 Commercial and industrial 7.90  % 7.61  % 0.9 Commercial real estate     1.0 Residential mortgage 6.5 Three months ended March 31, 2024 Commercial and industrial 8.24  7.28  0.4 Commercial real estate     0.6 Residential mortgage 8.6 (1)     Certain disclosures related to financial effects of modifications do not include those deemed to be immaterial. The performance of loans made to borrowers experiencing financial difficulty to which modifications were made is closely monitored to understand the effectiveness of modification efforts. Loans are considered to be in payment default at 90 or more days past due. The following table depicts the performance of loans that have been modified during the identified period. Past Due (dollar amounts in millions) 30-59  Days 60-89  Days 90 or  more days Total Current Total At March 31, 2025 Commercial and industrial $ 8  $ —  $ 5  $ 13  $ 483  $ 496  Commercial real estate 12  —  2  14  244  258  Residential mortgage 9  9  15  33  39  72  Automobile 2  —  —  2  9  11  Home equity 1  1  1  3  12  15  RV and marine —  —  —  —  1  1  Other consumer —  —  —  —  2  2  Total loans to borrowers experiencing financial difficulty to which modifications were made in the twelve months ended March 31, 2025 $ 32  $ 10  $ 23  $ 65  $ 790  $ 855  At March 31, 2024 Commercial and industrial $ 2  $ 11  $ 11  $ 24  $ 449  $ 473  Commercial real estate 2  7  —  9  118  127  Residential mortgage 8  5  9  22  31  53  Automobile 2  —  —  2  14  16  Home equity 1  1  1  3  11  14  RV and marine —  —  —  —  1  1  Total loans to borrowers experiencing financial difficulty to which modifications were made in the twelve months ended March 31, 2024 $ 15  $ 24  $ 21  $ 60  $ 624  $ 684  Pledged Loans The Bank has access to secured borrowings from the Federal Reserve’s discount window and advances from the FHLB. As of March 31, 2025 and December 31, 2024, loans and leases totaling $107.4 billion and $105.4 billion, respectively, were pledged to the FRB and FHLB for access to these contingent funding sources.