Annual report pursuant to Section 13 and 15(d)

LOANS AND LEASES (Tables)

v3.22.0.1
LOANS AND LEASES (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of financing receivable portfolio segments
The following table provides a detailed listing of Huntington’s loan and lease portfolio at December 31, 2021 and December 31, 2020.
At December 31,
(dollar amounts in millions) 2021 2020
Commercial Loan and lease portfolio:
Commercial and industrial $ 41,688  $ 33,151 
Commercial real estate 14,961  7,199 
Lease financing 5,000  2,222 
Total commercial loan and lease portfolio 61,649  42,572 
Consumer loan portfolio:
Residential mortgage 19,256  12,141 
Automobile 13,434  12,778 
Home equity 10,550  8,894 
RV and marine 5,058  4,190 
Other consumer 1,973  1,033 
Total consumer loan portfolio 50,271  39,036 
Total loans and leases (1)(2) 111,920  81,608 
Allowance for loan and lease losses (2,030) (1,814)
Net loans and leases $ 109,890  $ 79,794 
(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) premium of $(111) million and $171 million at December 31, 2021 and 2020, respectively.
(2)The total amount of accrued interest recorded for these loans and leases at December 31, 2021, was $148 million and $150 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2020, was $146 million and $123 million of commercial and consumer loan and lease portfolios, respectively. Accrued interest is presented in other assets within the Condensed Consolidated Balance Sheets.
Lease financing receivables
The following table presents net investments in lease financing receivables by category at December 31, 2021 and December 31, 2020:
 
At December 31,
(dollar amounts in millions) 2021 2020
Lease payments receivable $ 4,620  $ 1,737 
Estimated residual value of leased assets 774  664 
Gross investment in lease financing receivables 5,394  2,401 
Deferred origination costs 36  21 
Deferred fees, unearned income and other (430) (200)
Total lease financing receivables $ 5,000  $ 2,222 
Nonaccrual loans by loan class
The following table presents NALs by class at December 31, 2021 and 2020: 
December 31, 2021 December 31, 2020
(dollar amounts in millions) Nonaccrual loans with no ACL Total nonaccrual loans Nonaccrual loans with no ACL Total nonaccrual loans
Commercial and industrial $ 81  $ 370  $ 69  $ 349 
Commercial real estate 80  104  8  15 
Lease financing 3  48  —  4 
Residential mortgage —  111  —  88 
Automobile —  3  —  4 
Home Equity —  79  —  70 
RV and marine —  1  —  2 
Total nonaccrual loans and leases $ 164  $ 716  $ 77  $ 532 
Aging analysis of loans and leases
The following table presents an aging analysis of loans and leases, by class at December 31, 2021 and 2020:
December 31, 2021
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
Commercial and industrial $ 72  $ 69  $ 107  $ 248  $ 41,440  $ —  $ 41,688  $ 13  (2)
Commercial real estate 9  1  9  19  14,942  —  14,961  — 
Lease financing 39  13  17  69  4,931  —  5,000  11  (3)
Residential mortgage 151  49  233  433  18,653  170  19,256  157  (4)
Automobile 79  18  8  105  13,329  —  13,434  6 
Home equity 48  35  76  159  10,390  1  10,550  17 
RV and marine 14  4  3  21  5,037  —  5,058  3 
Other consumer 13  2  3  18  1,955  —  1,973  3 
Total loans and leases $ 425  $ 191  $ 456  $ 1,072  $ 110,677  $ 171  $ 111,920  $ 210 
December 31, 2020
Past Due (1)(4) 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
Commercial and industrial $ 38  $ 33  $ 82  $ 153  $ 32,998  $ —  $ 33,151  $ — 
Commercial real estate —  1  11  12  7,187  —  7,199  — 
Lease financing 22  5  13  40  2,182  —  2,222  10  (3)
Residential mortgage 114  38  194  346  11,702  93  12,141  132  (4)
Automobile 84  22  12  118  12,660  —  12,778  9 
Home equity 35  15  61  111  8,782  1  8,894  14 
RV and marine 17  3  3  23  4,167  —  4,190  3 
Other consumer 9  4  3  16  1,017  —  1,033  3 
Total loans and leases $ 319  $ 121  $ 379  $ 819  $ 80,695  $ 94  $ 81,608  $ 171 
(1)NALs are included in this aging analysis based on the loan’s past due status.
(2)Amounts include PPP and other SBA loans and leases.
(3)Amounts include Huntington Technology Finance administrative lease delinquencies.
(4)Amounts include mortgage loans insured by U.S. government agencies.
(5)The principal balance of loans in payment deferral programs offered in response to the COVID-19 pandemic which are performing according to their modified terms are generally not considered delinquent.
Loan and lease balances by credit quality indicator
The following table presents the amortized cost basis of loans and leases by vintage and credit quality indicator at December 31, 2021 and 2020 respectively:
As of December 31, 2021
Term Loans Amortized Cost Basis by Origination Year Revolver Total at Amortized Cost Basis Revolver Total Converted to Term Loans
(dollar amounts in millions) 2021 2020 2019 2018 2017 Prior Total
Commercial and industrial
Credit Quality Indicator (1):
Pass $ 15,435  $ 5,677  $ 3,682  $ 1,983  $ 1,080  $ 1,134  $ 9,945  $ 3  $ 38,939 
OLEM 183  178  87  83  38  73  166  —  808 
Substandard 336  203  344  206  125  167  552  —  1,933 
Doubtful 5  1  1  1  —  —  —  —  8 
Total Commercial and industrial $ 15,959  $ 6,059  $ 4,114  $ 2,273  $ 1,243  $ 1,374  $ 10,663  $ 3  $ 41,688 
Commercial real estate
Credit Quality Indicator (1):
Pass $ 4,144  $ 2,367  $ 2,593  $ 1,456  $ 761  $ 1,124  $ 798  $ —  $ 13,243 
OLEM 76  48  42  83  73  19  —  —  341 
Substandard 224  362  448  115  151  46  30  —  1,376 
Doubtful —  —  —  1  —  —  —  —  1 
Total Commercial real estate $ 4,444  $ 2,777  $ 3,083  $ 1,655  $ 985  $ 1,189  $ 828  $ —  $ 14,961 
Lease financing
Credit Quality Indicator (1):
Pass $ 1,851  $ 1,441  $ 809  $ 417  $ 226  $ 131  $ —  $ —  $ 4,875 
OLEM 8  32  12  4  2  —  —  —  58 
Substandard 6  23  19  2  9  8  —  —  67 
Total Lease financing $ 1,865  $ 1,496  $ 840  $ 423  $ 237  $ 139  $ —  $ —  $ 5,000 
Residential mortgage
Credit Quality Indicator (2):
750+ $ 5,532  $ 3,857  $ 978  $ 554  $ 687  $ 1,704  $ —  $ —  $ 13,312 
650-749 1,862  993  409  269  254  1,028  —  —  4,815 
<650 48  56  104  120  99  532  —  —  959 
Total Residential mortgage $ 7,442  $ 4,906  $ 1,491  $ 943  $ 1,040  $ 3,264  $ —  $ —  $ 19,086 
Automobile
Credit Quality Indicator (2):
750+ $ 2,993  $ 1,927  $ 1,381  $ 666  $ 345  $ 129  $ —  $ —  $ 7,441 
650-749 2,393  1,237  736  380  168  55  —  —  4,969 
<650 380  234  178  128  70  34  —  —  1,024 
Total Automobile $ 5,766  $ 3,398  $ 2,295  $ 1,174  $ 583  $ 218  $ —  $ —  $ 13,434 
Home Equity
Credit Quality Indicator (2):
750+ $ 645  $ 701  $ 32  $ 31  $ 34  $ 387  $ 4,772  $ 272  $ 6,874 
650-749 129  94  15  13  13  161  2,324  324  3,073 
<650 3  2  2  1  1  67  361  165  602 
Total Home equity $ 777  $ 797  $ 49  $ 45  $ 48  $ 615  $ 7,457  $ 761  $ 10,549 
RV and marine
Credit Quality Indicator (2):
750+ $ 1,257  $ 933  $ 470  $ 468  $ 268  $ 319  $ —  $ —  $ 3,715 
650-749 393  273  171  157  106  150  —  —  1,250 
<650 6  11  13  18  18  27  —  —  93 
Total RV and marine $ 1,656  $ 1,217  $ 654  $ 643  $ 392  $ 496  $ —  $ —  $ 5,058 
Other consumer
Credit Quality Indicator (2):
750+ $ 458  $ 125  $ 138  $ 50  $ 38  $ 97  $ 546  $ 3  $ 1,455 
650-749 49  22  34  11  9  19  294  24  462 
<650 2  2  5  2  —  1  27  17  56 
Total Other consumer $ 509  $ 149  $ 177  $ 63  $ 47  $ 117  $ 867  $ 44  $ 1,973 
As of December 31, 2020
Term Loans Amortized Cost Basis by Origination Year Revolver Total at Amortized Cost Basis Revolver Total Converted to Term Loans
(dollar amounts in millions) 2020 2019 2018 2017 2016 Prior Total
Commercial and industrial
Credit Quality Indicator (1):
Pass $ 12,599  $ 4,161  $ 2,537  $ 1,192  $ 837  $ 815  $ 8,894  $ 2  $ 31,037 
OLEM 415  112  65  24  32  22  124  —  794 
Substandard 195  125  181  203  41  147  423  —  1,315 
Doubtful 2  —  1  —  —  1  1  —  5 
Total Commercial and industrial $ 13,211  $ 4,398  $ 2,784  $ 1,419  $ 910  $ 985  $ 9,442  $ 2  $ 33,151 
Commercial real estate
Credit Quality Indicator (1):
Pass $ 1,742  $ 1,610  $ 1,122  $ 507  $ 507  $ 539  $ 633  $ —  $ 6,660 
OLEM 94  78  63  37  28  14  4  —  318 
Substandard 27  46  10  29  58  14  36  —  220 
Doubtful —  —  —  —  —  1  —  —  1 
Total Commercial real estate $ 1,863  $ 1,734  $ 1,195  $ 573  $ 593  $ 568  $ 673  $ —  $ 7,199 
Lease financing
Credit Quality Indicator (1):
Pass $ 1,158  $ 364  $ 221  $ 155  $ 137  $ 101  $ —  $ —  $ 2,136 
OLEM 6  4  4  6  1  —  —  —  21 
Substandard 1  19  7  21  5  12  —  —  65 
Total Lease financing $ 1,165  $ 387  $ 232  $ 182  $ 143  $ 113  $ —  $ —  $ 2,222 
Residential mortgage
Credit Quality Indicator (2):
750+ $ 3,269  $ 1,370  $ 891  $ 1,064  $ 762  $ 1,243  $ 1  $ —  $ 8,600 
650-749 991  435  307  278  171  495  —  —  2,677 
<650 34  89  111  108  81  348  —  —  771 
Total Residential mortgage $ 4,294  $ 1,894  $ 1,309  $ 1,450  $ 1,014  $ 2,086  $ 1  $ —  $ 12,048 
Automobile
Credit Quality Indicator (2):
750+ $ 2,670  $ 2,013  $ 1,144  $ 742  $ 317  $ 81  $ —  $ —  $ 6,967 
650-749 1,965  1,343  755  386  175  52  —  —  4,676 
<650 312  301  244  157  84  37  —  —  1,135 
Total Automobile $ 4,947  $ 3,657  $ 2,143  $ 1,285  $ 576  $ 170  $ —  $ —  $ 12,778 
Home equity
Credit Quality Indicator (2):
750+ $ 793  $ 26  $ 26  $ 32  $ 89  $ 451  $ 4,373  $ 192  $ 5,982 
650-749 147  9  8  11  27  157  1,906  181  2,446 
<650 1  1  1  1  6  70  286  99  465 
Total Home equity $ 941  $ 36  $ 35  $ 44  $ 122  $ 678  $ 6,565  $ 472  $ 8,893 
RV and marine
Credit Quality Indicator (2):
750+ $ 1,136  $ 525  $ 589  $ 337  $ 153  $ 254  $ —  $ —  $ 2,994 
650-749 348  215  201  136  64  129  —  —  1,093 
<650 4  15  21  22  12  29  —  —  103 
Total RV and marine $ 1,488  $ 755  $ 811  $ 495  $ 229  $ 412  $ —  $ —  $ 4,190 
Other consumer
Credit Quality Indicator (2):
750+ $ 69  $ 58  $ 26  $ 8  $ 4  $ 14  $ 340  $ 2  $ 521 
650-749 36  56  17  5  2  3  294  30  443 
<650 2  8  3  1  —  1  26  28  69 
Total Other consumer $ 107  $ 122  $ 46  $ 14  $ 6  $ 18  $ 660  $ 60  $ 1,033 
(1)Consistent with the credit quality disclosures, indicators for the Commercial portfolio are based on internally defined categories of credit grades which are generally refreshed at least semi-annually.
(2)Consistent with the credit quality disclosures, indicators for the Consumer portfolio are based on updated customer credit scores refreshed at least quarterly.
Detailed troubled debt restructuring information by class
The following table presents, by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the years ended December 31, 2021 and 2020.
New Troubled Debt Restructurings (1)
Year Ended December 31, 2021
Number of
Contracts		 Post-modification Outstanding Recorded Investment (2)
(dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total
Commercial and industrial 76  $ 29  $ 25  $ —  $ —  $ 54 
Commercial real estate 5  —  —  —  —  — 
Residential mortgage 320  —  39  6  —  45 
Automobile 2,442  —  16  4  —  20 
Home equity 214  —  4  7  —  11 
RV and marine 138  1  2  1  —  4 
Other consumer 270  —  —  —  1  1 
Total new TDRs 3,465  $ 30  $ 86  $ 18  $ 1  $ 135 
Year Ended December 31, 2020
Number of
Contracts		 Post-modification Outstanding Recorded Investment (2)
(dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total
Commercial and industrial 317  $ —  $ 123  $ —  $ 58  $ 181 
Commercial real estate 13  —  3  —  —  3 
Residential mortgage 585  —  79  7  —  86 
Automobile 3,018  —  29  6  —  35 
Home equity 273  —  6  8  2  16 
RV and marine 168  —  4  1  —  5 
Other consumer 622  3  —  —  1  4 
Total new TDRs 4,996  $ 3  $ 244  $ 22  $ 61  $ 330 
(1)TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower.
(2)Post-modification balances approximate pre-modification balances.