Quarterly report [Sections 13 or 15(d)]

VARIABLE INTEREST ENTITIES (Tables)

v3.25.2
VARIABLE INTEREST ENTITIES (Tables)
6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Carrying Amount and Classification of the Trusts Assets and Liabilities
(dollar amounts in millions) At June 30, 2025 At December 31, 2024
Assets
Net loans and leases $ 880  $ 1,122 
Other assets 246  264 
Total assets $ 1,126  $ 1,386 
Liabilities
Long-term borrowings $ 796  $ 1,023 
Other liabilities 89  109 
Total liabilities $ 885  $ 1,132 
The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest in, but is not the primary beneficiary.
(dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss
At June 30, 2025
Affordable housing tax credit partnerships
$ 2,595  $ 1,140  $ 2,595 
Trust preferred securities
14  248  — 
Other investments
1,128  179  1,128 
Total $ 3,737  $ 1,567  $ 3,723 
At December 31, 2024
Affordable housing tax credit partnerships
$ 2,382  $ 1,065  $ 2,382 
Trust preferred securities
14  248  — 
Other investments
1,201  168  1,201 
Total $ 3,597  $ 1,481  $ 3,583 
Affordable Housing Tax Credit Investments
The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments.
(dollar amounts in millions) At June 30, 2025 At December 31, 2024
Affordable housing tax credit investments $ 3,953  $ 3,628 
Less: amortization (1,358) (1,246)
Net affordable housing tax credit investments $ 2,595  $ 2,382 
Unfunded commitments $ 1,140  $ 1,065 
The following table presents other information relating to Huntington’s affordable housing tax credit investments.
Three Months Ended Six Months Ended
(dollar amounts in millions) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024
Tax credits and other tax benefits recognized $ 87  $ 76  $ 173  $ 152 
Proportional amortization expense included in provision for income taxes 71  63  141  126 
The initial investment in affordable housing tax credit investments and subsequent tax credits, benefits, and amortization are included within operating activities in the Unaudited Consolidated Statements of Cash Flows.