Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 133

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 133
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 the fair value option.TotalLoans that are 90 or more days past due(dollar amounts in millions)Fair valuecarryingamountAggregateunpaidprincipalDifferenceFair valuecarryingamountAggregateunpaidprincipalDifferenceAt March 31, 2025AssetsLoans held for sale$555 $537 $18 $— $— $— Loans held for investment175 187 (12)4 5 (1)LiabilitiesLong-term debt1,143 1,138 (5)At December 31, 2024AssetsLoans held for sale$652 $640 $12 $— $— $— Loans held for investment173 184 (11)4 4 — LiabilitiesLong-term debt821 817 (4)The following table presents the net gains (losses) from fair value changes.Three Months Ended(dollar amounts in millions)ClassificationMarch 31, 2025March 31, 2024Loans held for sale Mortgage banking income$6 $(7)Loans held for investment Mortgage banking income(1)(1)Long-term debtOther noninterest income(1)— Assets and Liabilities measured at fair value on a nonrecurring basisCertain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, for example, when there is evidence of impairment. The gains (losses) represent the amounts recorded during the period regardless of whether the asset is still held at period end.The amounts measured at fair value on a nonrecurring basis were as follows.Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Total LossesThree Months Ended(dollar amounts in millions)At March 31, 2025At December 31, 2024March 31, 2025March 31, 2024Collateral-dependent loans$61 $192 $(23)$(25)Huntington records nonrecurring adjustments of collateral-dependent loans held for investment. Such amounts are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for comparable properties and cost of construction. Periodically, in cases where the carrying value exceeds