Quarterly report [Sections 13 or 15(d)]

LOANS AND LEASES (Tables)

v3.25.1
LOANS AND LEASES (Tables)
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Loan and Lease Portfolio
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.
Direct Financing Lease, Lease Income
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 
NALs and Past Due Loans
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 
Aging Analysis of Loans and Leases
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.
Loan and Lease Balances by Credit Quality Indicator
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 
Summary of Modifications
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 
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 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