Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 123

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 123
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orrowings with original maturities of one year or less are classified as short-term and were comprised of the following.(dollar amounts in millions)At March 31, 2025At December 31, 2024Securities sold under agreements to repurchase$132 $142 Other borrowings532 57 Total short-term borrowings$664 $199 The carrying value of assets pledged as collateral against repurchase agreements totaled $201 million and $224 million as of March 31, 2025 and December 31, 2024, respectively. Assets pledged as collateral are reported in available-for-sale securities and held-to-maturity securities on the Unaudited Consolidated Balance Sheets. The repurchase agreements have maturities within 60 days. No amounts have been offset against the agreements.

2025 1Q Form 10-Q     57

The following table summarizes the composition of Huntington’s long-term debt.(dollar amounts in millions)At March 31, 2025At December 31, 2024The Parent Company:Senior Notes$5,922 $5,836 Subordinated Notes1,361 1,341 Total notes issued by the Parent Company7,283 7,177 The Bank:Senior Notes3,172 1,654 Subordinated Notes389 515 Total notes issued by the Bank3,561 2,169 FHLB Advances4,707 4,696 Auto Loan Securitization Trust (1)911 1,023 Credit Linked Notes (2)1,143 821 Other491 488 Total long-term debt$18,096 $16,374 (1)     Represents secured borrowings collateralized by auto loans with a weighted average rate of 5.29% due through 2029. See Note 14 - “Variable Interest Entities” for additional information.(2)    As of March 31, 2025, the weighted average contractual interest rate on the CLNs was 6.02%. Huntington has elected the fair value option for these notes. To the extent losses exceed certain thresholds, the principal and interest payable on the notes may be reduced by a portion of the Company's aggregate net losses on the reference pool of loans, with losses allocated to note classes in reverse order of payment priority.During the first quarter of 2025, the Bank issued $1.0 billion of fixed-to-floating rate senior