Quarterly report pursuant to Section 13 or 15(d)

LOANS / LEASES (Tables)

v3.20.2
LOANS / LEASES (Tables)
 9 Months Ended
Sep. 30, 2020
Receivables [Abstract]  
Loan and Lease Portfolio
The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2020 and December 31, 2019.
(dollar amounts in millions) September 30, 2020 December 31, 2019
Loans and leases:
Commercial and industrial
 $ 34,895  $ 30,664 
Commercial real estate
 7,209  6,674 
Automobile
 12,925  12,797 
Home equity
 8,904  9,093 
Residential mortgage
 12,031  11,376 
RV and marine
 4,146  3,563 
Other consumer
 1,046  1,237 
Loans and leases $ 81,156  $ 75,404 
Allowance for loan and lease losses (1,796) (783)
Net loans and leases $ 79,360  $ 74,621 
Direct Financing Lease, Lease Income
The following table presents net investments in lease financing receivables by category at September 30, 2020 and December 31, 2019.
(dollar amounts in millions) September 30,
2020		 December 31,
2019
Commercial and industrial:
Lease payments receivable $ 1,751  $ 1,841 
Estimated residual value of leased assets 687  728 
Gross investment in commercial and industrial lease financing receivables 2,438  2,569 
Deferred origination costs 21  19 
Deferred fees (203) (249)
Total net investment in commercial and industrial lease financing receivables $ 2,256  $ 2,339 
NALs and Past Due Loans
The following table presents NALs by loan class at September 30, 2020 and December 31, 2019 (1):
September 30, 2020 December 31, 2019
(dollar amounts in millions) Nonaccrual loans with no ACL Total nonaccrual loans Nonaccrual loans with no ACL Total nonaccrual loans
Commercial and industrial $ 65  $ 388  $ 109  $ 323 
Commercial real estate 9  16  2  10 
Automobile —  5  —  4 
Home equity —  71  —  59 
Residential mortgage —  88  —  71 
RV and marine —  1  —  1 
Other consumer —  —  —  — 
Total nonaccrual loans $ 74  $ 569  $ 111  $ 468 
Aging analysis of loans and leases
The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class at September 30, 2020 and December 31, 2019:
September 30, 2020
Past Due (1)(2)  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 $ 54  $ 21  $ 113  $ 188  $ 34,707  $ —  $ 34,895  $ 10 
(3)
Commercial real estate 6  3  12  21  7,188  —  7,209  — 
Automobile 61  20  12  93  12,832  —  12,925  8 
Home equity 23  11  58  92  8,811  1  8,904  11 
Residential mortgage 104  32  202  338  11,602  91  12,031  142  (4)
RV and marine 11  3  3  17  4,129  —  4,146  2 
Other consumer 8  3  2  13  1,033  —  1,046  2 
Total loans and leases $ 267  $ 93  $ 402  $ 762  $ 80,302  $ 92  $ 81,156  $ 175 
December 31, 2019
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 $ 65  $ 31  $ 69  $ 165  $ 30,499  $ —  $ 30,664  $ 11 
(3)
Commercial real estate 3  1  7  11  6,663  —  6,674  — 
Automobile 95  19  11  125  12,672  —  12,797  8 
Home equity 50  19  51  120  8,972  1  9,093  14 
Residential mortgage 103  49  170  322  10,974  80  11,376  129  (4)
RV and marine 13  4  2  19  3,544  —  3,563  2 
Other consumer 13  6  7  26  1,211  —  1,237  7 
Total loans and leases $ 342  $ 129  $ 317  $ 788  $ 74,535  $ 81  $ 75,404  $ 171 
(1)NALs are included in this aging analysis based on the loan’s past due status.
(2)At September 30, 2020, 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.
(3)Amounts include Huntington Technology Finance administrative lease delinquencies.
(4)Amounts include mortgage loans insured by U.S. government ag
Loan and lease balances by credit quality indicator
The following table presents each loan and lease class by vintage and credit quality indicator at September 30, 2020:
As of September 30, 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 (3)
Commercial and industrial
Credit Quality Indicator (1):
Pass $ 12,017  $ 5,057  $ 3,019  $ 1,621  $ 1,106  $ 1,084  $ 8,408  $ 2  $ 32,314 
OLEM 362  134  120  35  42  22  212  —  927 
Substandard 296  171  167  215  90  182  525  —  1,646 
Doubtful 2  —  5  —  —  1  —  —  8 
Total Commercial and industrial $ 12,677  $ 5,362  $ 3,311  $ 1,871  $ 1,238  $ 1,289  $ 9,145  $ 2  $ 34,895 
Commercial real estate
Credit Quality Indicator (1):
Pass $ 1,366  $ 1,629  $ 1,203  $ 566  $ 601  $ 635  $ 675  $ —  $ 6,675 
OLEM 61  74  73  56  20  23  1  —  308 
Substandard 21  48  13  40  44  20  38  —  224 
Doubtful —  —  —  —  —  2  —  —  2 
Total Commercial real estate $ 1,448  $ 1,751  $ 1,289  $ 662  $ 665  $ 680  $ 714  $ —  $ 7,209 
Automobile
Credit Quality Indicator (2):
750+ $ 2,145  $ 2,185  $ 1,293  $ 880  $ 406  $ 126  $ —  $ —  $ 7,035 
650-749 1,528  1,546  878  465  224  78  —  —  4,719 
<650 224  334  274  183  104  52  —  —  1,171 
Total Automobile $ 3,897  $ 4,065  $ 2,445  $ 1,528  $ 734  $ 256  $ —  $ —  $ 12,925 
Home equity
Credit Quality Indicator (2):
750+ $ 502  $ 29  $ 31  $ 36  $ 97  $ 498  $ 4,493  $ 192  $ 5,878 
650-749 96  12  8  12  31  181  2,006  186  2,532 
<650 —  1  1  1  7  76  304  103  493 
Total Home equity $ 598  $ 42  $ 40  $ 49  $ 135  $ 755  $ 6,803  $ 481  $ 8,903 
Residential mortgage
Credit Quality Indicator (2):
750+ $ 2,416  $ 1,545  $ 1,060  $ 1,229  $ 862  $ 1,429  $ —  $ —  $ 8,541 
650-749 758  516  363  313  194  526  —  —  2,670 
<650 25  74  101  102  73  354  —  —  729 
Total Residential mortgage $ 3,199  $ 2,135  $ 1,524  $ 1,644  $ 1,129  $ 2,309  $ —  $ —  $ 11,940 
RV and marine
Credit Quality Indicator (2):
750+ $ 988  $ 557  $ 629  $ 360  $ 163  $ 270  $ —  $ —  $ 2,967 
650-749 264  231  217  147  69  141  —  —  1,069 
<650 4  15  23  23  12  33  —  —  110 
Total RV and marine $ 1,256  $ 803  $ 869  $ 530  $ 244  $ 444  $ —  $ —  $ 4,146 
Other consumer
Credit Quality Indicator (2):
750+ $ 71  $ 64  $ 28  $ 8  $ 4  $ 10  $ 324  $ 2  $ 511 
650-749 29  64  21  7  2  5  300  31  459 
<650 1  9  3  1  1  2  28  31  76 
Total Other consumer $ 101  $ 137  $ 52  $ 16  $ 7  $ 17  $ 652  $ 64  $ 1,046 
(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.
(3)The total amount of accrued interest recorded for these loans at September 30, 2020, presented in other assets within the Condensed Consolidated Balance Sheets, was $132 million and $125 million of commercial and consumer, respectively.
The following table presents each loan and lease class by credit quality indicator at December 31, 2019.
December 31, 2019
(dollar amounts in millions) Credit Risk Profile by UCS Classification
Commercial Pass OLEM Substandard Doubtful Total
Commercial and industrial $ 28,477  $ 634  $ 1,551  $ 2  $ 30,664 
Commercial real estate 6,487  98  88  1  6,674 
Credit Risk Profile by FICO Score (1), (2)
Consumer 750+ 650-749 <650 Total
Automobile $ 6,759  $ 4,661  $ 1,377  $ 12,797 
Home equity 5,763  2,772  557  9,092 
Residential mortgage 7,976  2,742  578  11,296 
RV and marine 2,391  1,053  119  3,563 
Other consumer 546  571  120  1,237 
(1)Excludes loans accounted for under the fair value option.
(2)Reflects updated customer credit scores.
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 three-month and nine-month periods ended September 30, 2020 and 2019.
New Troubled Debt Restructurings (1)
Three Months Ended September 30, 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 39  $ —  $ 28  $ —  $ —  $ 28 
Commercial real estate 2  —  —  —  —  — 
Automobile 726  —  5  2  —  7 
Home equity 90  —  2  3  1  6 
Residential mortgage 242  —  40  2  —  42 
RV and marine 30  —  1  —  —  1 
Other consumer 122  1  —  —  —  1 
Total new TDRs 1,251  $ 1  $ 76  $ 7  $ 1  $ 85 
Three Months Ended September 30, 2019
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 119  $ —  $ 39  $ —  $ —  $ 39 
Commercial real estate 7  —  1  —  —  1 
Automobile 833  —  5  2  —  7 
Home equity 76  —  2  3  —  5 
Residential mortgage 69  —  9  —  —  9 
RV and marine 46  —  1  —  —  1 
Other consumer 385  2  —  —  —  2 
Total new TDRs 1,535  $ 2  $ 57  $ 5  $ —  $ 64 
New Troubled Debt Restructurings (1)
Nine Months Ended September 30, 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 277  $ —  $ 116  $ —  $ 58  $ 174 
Commercial real estate 11  —  3  —  —  3 
Automobile 2,582  —  26  5  —  31 
Home equity 216  —  5  6  2  13 
Residential mortgage 448  —  62  5  —  67 
RV and marine finance 126  —  4  —  —  4 
Other consumer 513  3  —  —  —  3 
Total new TDRs 4,173  $ 3  $ 216  $ 16  $ 60  $ 295 
Nine Months Ended September 30, 2019
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 335  $ —  $ 114  $ —  $ —  $ 114 
Commercial real estate 21  —  12  —  —  12 
Automobile 2,227  —  14  6  —  20 
Home equity 248  —  7  6  —  13 
Residential mortgage 241  —  27  1  —  28 
RV and marine finance 113  —  1  1  —  2 
Other consumer 972  6  —  —  —  6 
Total new TDRs 4,157  $ 6  $ 175  $ 14  $ —  $ 195 
(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.