LOANS AND LEASES

v3.25.2

LOANS AND LEASES	6 Months Ended
	Jun. 30, 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 June 30, 2025 At December 31, 2024 Commercial loan and lease portfolio: Commercial and industrial $ 60,723  $ 56,809  Commercial real estate 10,698  11,078  Lease financing 5,516  5,454  Total commercial loan and lease portfolio 76,937  73,341  Consumer loan portfolio: Residential mortgage 24,527  24,242  Automobile 15,382  14,564  Home equity 10,221  10,142  RV and marine 5,907  5,982  Other consumer 1,986  1,771  Total consumer loan portfolio 58,023  56,701  Total loans and leases (1)(2) 134,960  130,042  Allowance for loan and lease losses (2,331) (2,244) Net loans and leases $ 132,629  $ 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 $503 million and $468 million at June 30, 2025 and December 31, 2024, respectively. (2)The total amount of accrued interest recorded for loans and leases at June 30, 2025 was $316 million and $245 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 June 30, 2025 At December 31, 2024 Lease payments receivable $ 5,215  $ 5,189  Estimated residual value of leased assets 954  884  Gross investment in lease financing receivables 6,169  6,073  Deferred origination costs 54  56  Deferred fees, unearned income, and other (707) (675) Total lease financing receivables $ 5,516  $ 5,454  The carrying value of residual values guaranteed was $476 million and $517 million as of June 30, 2025 and December 31, 2024, respectively. The future lease rental payments due from customers on direct financing leases at June 30, 2025 totaled $5.2 billion and were due as follows: $656 million in 2025, $961 million in 2026, $947 million in 2027, $975 million in 2028, $840 million in 2029, and $836 million thereafter. Interest income recognized for these types of leases was $92 million and $81 million for the three-month periods ended June 30, 2025 and 2024, respectively. For the six-month periods ended June 30, 2025 and 2024, interest income recognized for these types of leases was $181 million and $160 million, respectively. Nonaccrual and Past Due Loans and Leases The following table presents NALs by loan class. At June 30, 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 $ 34  $ 489  $ 71  $ 457  Commercial real estate 87  138  75  118  Lease financing 1  10  —  10  Residential mortgage —  93  —  83  Automobile —  5  —  6  Home equity —  105  —  107  RV and marine —  2  —  2  Total nonaccrual loans and leases $ 122  $ 842  $ 146  $ 783  The following table presents an aging analysis of loans and leases, by loan 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 June 30, 2025 Commercial and industrial $ 77  $ 53  $ 252  $ 382  $ 60,341  $ —  $ 60,723  $ 4  (2) Commercial real estate 1  —  52  53  10,645  —  10,698  —  Lease financing 46  14  18  78  5,438  —  5,516  14  Residential mortgage 248  79  245  572  23,783  172  24,527  189  (3) Automobile 101  25  12  138  15,244  —  15,382  10  Home equity 59  32  89  180  10,041  —  10,221  18  RV and marine 20  5  3  28  5,879  —  5,907  2  Other consumer 14  6  4  24  1,962  —  1,986  4  Total loans and leases $ 566  $ 214  $ 675  $ 1,455  $ 133,333  $ 172  $ 134,960  $ 241  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 June 30, 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 $ 10,457  $ 11,222  $ 6,004  $ 5,174  $ 2,046  $ 2,817  $ 19,574  $ 9  $ 57,303  OLEM 70  248  81  59  11  26  147  —  642  Substandard 358  413  362  321  200  167  957  —  2,778  Total Commercial and industrial $ 10,885  $ 11,883  $ 6,447  $ 5,554  $ 2,257  $ 3,010  $ 20,678  $ 9  $ 60,723  Commercial real estate Credit Quality Indicator: Pass $ 1,118  $ 1,327  $ 790  $ 2,087  $ 1,000  $ 2,459  $ 696  $ —  $ 9,477  OLEM 18  —  105  249  119  74  40  —  605  Substandard 81  75  107  137  71  128  17  —  616  Total Commercial real estate $ 1,217  $ 1,402  $ 1,002  $ 2,473  $ 1,190  $ 2,661  $ 753  $ —  $ 10,698  Lease financing Credit Quality Indicator: Pass $ 675  $ 1,831  $ 1,298  $ 709  $ 480  $ 454  $ —  $ —  $ 5,447  OLEM 3  3  4  2  2  3  —  —  17  Substandard 1  4  12  20  4  11  —  —  52  Total Lease financing $ 679  $ 1,838  $ 1,314  $ 731  $ 486  $ 468  $ —  $ —  $ 5,516  Residential mortgage Credit Quality Indicator: 750+ $ 870  $ 1,851  $ 2,153  $ 3,788  $ 5,412  $ 5,250  $ —  $ —  $ 19,324  650-749 409  622  461  655  698  1,112  —  —  3,957  <650 31  83  77  136  124  623  —  —  1,074  Total Residential mortgage $ 1,310  $ 2,556  $ 2,691  $ 4,579  $ 6,234  $ 6,985  $ —  $ —  $ 24,355  Automobile Credit Quality Indicator: 750+ $ 2,239  $ 3,264  $ 1,335  $ 1,038  $ 651  $ 241  $ —  $ —  $ 8,768  650-749 1,464  2,090  728  509  309  111  —  —  5,211  <650 219  459  250  232  169  74  —  —  1,403  Total Automobile $ 3,922  $ 5,813  $ 2,313  $ 1,779  $ 1,129  $ 426  $ —  $ —  $ 15,382  Home equity Credit Quality Indicator: 750+ $ 92  $ 189  $ 284  $ 350  $ 411  $ 598  $ 4,717  $ 231  $ 6,872  650-749 34  60  82  68  47  110  2,047  211  2,659  <650 1  5  12  11  5  41  474  141  690  Total Home equity $ 127  $ 254  $ 378  $ 429  $ 463  $ 749  $ 7,238  $ 583  $ 10,221  RV and marine Credit Quality Indicator: 750+ $ 464  $ 814  $ 797  $ 743  $ 649  $ 1,036  $ —  $ —  $ 4,503  650-749 86  229  238  180  179  300  —  —  1,212  <650 1  17  31  28  37  78  —  —  192  Total RV and marine $ 551  $ 1,060  $ 1,066  $ 951  $ 865  $ 1,414  $ —  $ —  $ 5,907  Other consumer Credit Quality Indicator: 750+ $ 240  $ 230  $ 74  $ 36  $ 17  $ 53  $ 515  $ 1  $ 1,166  650-749 99  114  39  15  5  10  434  4  720  <650 5  15  10  4  2  1  57  6  100  Total Other consumer $ 344  $ 359  $ 123  $ 55  $ 24  $ 64  $ 1,006  $ 11  $ 1,986  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 June 30, 2025 Commercial and industrial $ 2  $ 5  $ 16  $ 10  $ 2  $ 4  $ 9  $ 1  $ 49  Commercial real estate 2  —  —  —  —  —  1  —  3  Lease financing —  —  —  1  1  2  —  —  4  Residential mortgage —  —  —  —  —  1  —  —  1  Automobile —  5  4  3  3  1  —  —  16  Home equity —  —  —  —  —  —  —  1  1  RV and marine —  1  2  2  1  3  —  —  9  Other consumer 3  5  4  2  1  3  —  10  28  Total $ 7  $ 16  $ 26  $ 18  $ 8  $ 14  $ 10  $ 12  $ 111  Six months ended June 30, 2025 Commercial and industrial $ 2  $ 11  $ 24  $ 43  $ 5  $ 13  $ 18  $ 2  $ 118  Commercial real estate 2  —  —  —  1  —  1  —  4  Lease financing —  1  1  3  1  2  —  —  8  Residential mortgage —  —  —  —  —  2  —  —  2  Automobile —  10  9  9  6  2  —  —  36  Home equity —  —  —  —  —  —  1  2  3  RV and marine —  1  4  3  3  7  —  —  18  Other consumer 4  11  9  4  2  6  —  19  55  Total $ 8  $ 34  $ 47  $ 62  $ 18  $ 32  $ 20  $ 23  $ 244  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 June 30, 2024 Commercial and industrial $ —  $ 5  $ 19  $ 7  $ —  $ 2  $ 10  $ —  $ 43  Commercial real estate 9  1  21  1  —  18  —  —  50  Lease financing —  1  1  —  —  —  —  —  2  Residential mortgage —  —  —  —  —  1  —  —  1  Automobile —  4  4  3  1  2  —  —  14  Home equity —  —  —  —  —  —  1  1  2  RV and marine —  —  1  1  1  3  —  —  6  Other consumer 2  6  3  2  1  4  —  9  27  Total $ 11  $ 17  $ 49  $ 14  $ 3  $ 30  $ 11  $ 10  $ 145  Six months ended June 30, 2024 Commercial and industrial $ —  $ 10  $ 30  $ 22  $ 11  $ 4  $ 20  $ 1  $ 98  Commercial real estate 9  2  30  2  —  24  —  —  67  Lease financing —  1  1  1  —  1  —  —  4  Residential mortgage —  —  —  —  —  2  —  —  2  Automobile —  8  9  7  3  2  —  —  29  Home equity —  —  —  —  —  —  1  3  4  RV and marine —  1  2  3  2  6  —  —  14  Other consumer 3  13  8  4  2  7  —  18  55  Total $ 12  $ 35  $ 80  $ 39  $ 18  $ 46  $ 21  $ 22  $ 273  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 June 30, 2025 Commercial and industrial $ 44  $ 158  $ —  $ 1  $ 203  0.33  % Commercial real estate —  69  —  —  69  0.64  Residential mortgage —  12  3  2  17  0.07  Automobile —  1  —  —  1  0.01  Home equity —  2  —  2  4  0.04  Total loans to borrowers experiencing financial difficulty to which modifications were made $ 44  $ 242  $ 3  $ 5  $ 294  0.22  % Three months ended June 30, 2024 Commercial and industrial $ 34  $ 116  $ —  $ 41  $ 191  0.37  % Commercial real estate —  184  —  14  198  1.66  Residential mortgage —  15  1  1  17  0.07  Automobile —  4  —  —  4  0.03  Home equity —  2  —  2  4  0.04  Other consumer 1  —  —  —  1  0.06  Total loans to borrowers experiencing financial difficulty to which modifications were made $ 35  $ 321  $ 1  $ 58  $ 415  0.33  % Six months ended June 30, 2025 Commercial and industrial $ 91  $ 289  $ —  $ 5  $ 385  0.63  % Commercial real estate —  140  —  —  140  1.31  Residential mortgage —  24  11  3  38  0.15  Automobile —  3  —  —  3  0.02  Home equity —  4  —  4  8  0.08  Other consumer 1  —  —  —  1  0.05  Total loans to borrowers experiencing financial difficulty in which modifications were made $ 92  $ 460  $ 11  $ 12  $ 575  0.43  % Six months ended June 30, 2024 Commercial and industrial $ 84  $ 144  $ —  $ 42  $ 270  0.52  % Commercial real estate —  198  —  14  212  1.78  Residential mortgage —  23  4  1  28  0.12  Automobile —  7  —  1  8  0.06  Home equity —  3  —  6  9  0.09  Other consumer 1  —  —  —  1  0.06  Total loans to borrowers experiencing financial difficulty in which modifications were made $ 85  $ 375  $ 4  $ 64  $ 528  0.42  % (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 June 30, 2025 Commercial and industrial 8.80  % 6.38  % 0.6 Commercial real estate     0.8 Residential mortgage 7.1 Three months ended June 30, 2024 Commercial and industrial 8.46  8.21  0.7 Commercial real estate 7.98  7.85  0.4 Residential mortgage 7.4 Six months ended June 30, 2025 Commercial and industrial 8.32  % 7.00  % 0.9 Commercial real estate 1.0 Residential mortgage 6.5 Six months ended June 30, 2024 Commercial and industrial 8.40  7.57  0.8 Commercial real estate 7.98  7.85  0.4 Residential mortgage 7.6 (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 June 30, 2025 Commercial and industrial $ 2  $ 1  $ 5  $ 8  $ 534  $ 542  Commercial real estate —  —  23  23  211  234  Residential mortgage 11  6  17  34  35  69  Automobile 1  —  —  1  7  8  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 June 30, 2025 $ 15  $ 8  $ 46  $ 69  $ 802  $ 871  At June 30, 2024 Commercial and industrial $ 16  $ 1  $ 7  $ 24  $ 396  $ 420  Commercial real estate —  —  4  4  244  248  Residential mortgage 9  6  8  23  29  52  Automobile 2  1  —  3  12  15  Home equity 1  1  2  4  11  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 June 30, 2024 $ 28  $ 9  $ 21  $ 58  $ 695  $ 753  Pledged Loans The Bank has access to secured borrowings from the Federal Reserve’s discount window and advances from the FHLB. As of June 30, 2025 and December 31, 2024, loans and leases totaling $108.3 billion and $105.4 billion, respectively, were pledged to the FRB and FHLB for access to these contingent funding sources.