Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 199

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 199
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 credit risk management strategies employed for this portfolio. Subsequent to the origination of the loan, the credit review group provides an independent review and assessment of the quality of the underwriting and risk of new loan originations.

2024 Form 10-K     63

Table of Contents

The following tables present our commercial real estate portfolio by property-type and geographic location.

Table 10 - Commercial Real Estate Portfolio by Property-typeAt December 31, 2024At December 31, 2023(dollar amounts in millions)Amount by Property-Type% of Total Loans and LeasesAmount by Property-Type% of Total Loans and LeasesMulti-family$4,426 3 %$4,708 4 %Warehouse/industrial1,604 2 2,029 2 Office1,559 1 1,825 1 Retail1,477 1 1,725 1 Hotel817 1 938 1 Other1,195 1 1,197 1 Total commercial real estate loans and leases$11,078 9 %$12,422 10 %

Table 11 - Commercial Real Estate Portfolio by Geographic LocationAt December 31, 2024At December 31, 2023(dollar amounts in millions)Amount by Location (1)% of Total CRE loans and leasesAmount by Location (1)% of Total CRE loans and leasesMichigan$2,148 19 %$2,498 20 %Ohio1,938 17 2,364 19 Florida1,064 10 733 6 Illinois683 6 904 7 Texas476 4 605 5 Pennsylvania426 4 354 3 Minnesota413 4 462 4 California387 3 247 2 Georgia375 3 368 3 Colorado362 3 398 3 Other2,806 27 3,489 28 Total commercial real estate loans and leases$11,078 100 %$12,422 100 %

(1)Geographic location based on location of underlying collateral.

Our CRE portfolio totaled $11.1 billion at December 31, 2024, a decrease of $1.3 billion, or 11%, compared to December 31, 2023, driven by loan pay-offs and a decrease in new originations. The CRE portfolio had an associated allowance coverage of