Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 144

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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 to provide additional collateral.The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Consolidated Balance Sheets.Offsetting of Financial Assets and Derivative AssetsGross amountsoffset in the unauditedconsolidatedbalance sheetsNet amounts ofassetspresented inthe unauditedconsolidatedbalance sheetsGross amounts not offset in theunaudited consolidatedbalance sheets(dollar amounts in millions)Gross amounts of recognized assetsFinancial instrumentsCash collateral receivedNet amountAt March 31, 2025$507 $(359)$148 $(11)$(9)$128 At December 31, 2024610 (344)266 (5)(35)226 Offsetting of Financial Liabilities and Derivative LiabilitiesGross amounts offset in the unaudited consolidated balance sheetsNet amounts of liabilities presented in the unaudited consolidated balance sheetsGross amounts not offset in theunaudited consolidatedbalance sheets(dollar amounts in millions)Gross amounts of recognized liabilitiesFinancial instrumentsCash collateral deliveredNet amountAt March 31, 2025$598 $(145)$453 $(67)$(135)$251 At December 31, 2024668 (90)578 (67)(316)195 

14. VARIABLE INTEREST ENTITIES 

Consolidated VIEsHuntington engages in activities with VIEs in the normal course of business that result in Huntington being the primary beneficiary and which are consolidated in Huntington’s financial statements. The following table provides a summary of the assets and liabilities of VIEs carried on Huntington’s Unaudited Consolidated Balance Sheets. (dollar amounts in millions)At March 31, 2025At December 31, 2024AssetsNet loans and leases$998 $1,122 Other assets260 264 Total assets$1,258 $1,386 LiabilitiesLong-term borrowings$911 $1,023 Other liabilities98 109 Total liabilities$1,009 $1,132 

74     Huntington Bancshares Incorporated

As part of the securitization transaction completed in the first quarter of 2024, Huntington transferred $1.6 billion in aggregate automobile loans to a SPE which was deemed to be a VIE. This SPE then issued approximately $1.6 billion of asset