Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 72

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 72
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 are 90 or more days past due(dollar amounts in millions)Fair valuecarryingamountAggregateunpaidprincipalDifferenceFair valuecarryingamountAggregateunpaidprincipalDifferenceAt December 31, 2024AssetsLoans held for sale$652 $640 $12 $— $— $— Loans held for investment173 184 (11)4 4 — LiabilitiesLong-term debt821 817 (4)At December 31, 2023AssetsLoans held for sale$506 $489 $17 $— $— $— Loans held for investment174 184 $(10)2 3 (1)The following table presents the net (losses) gains from fair value changes. Year Ended December 31,(dollar amounts in millions)Classification202420232022Loans held for saleMortgage banking income$(5)$10 $(26)Loans held for investmentMortgage banking income(1)(5)1 Long-term debtOther noninterest income(4)— — 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 Losses Year Ended(dollar amounts in millions)December 31, 2024December 31, 2023December 31, 2024December 31, 2023December 31, 2022Collateral-dependent loans$192 $40 $(122)$(21)$(1)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 the fair value of the collateral less cost to sell, an