Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 74

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 74
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 and liabilities subject to the disclosure requirements are not actively traded, requiring fair values to be estimated by management. These estimations necessarily involve the use of judgment about a wide variety of factors, including, but not limited to, relevancy of market prices of comparable instruments, expected future cash flows, and appropriate discount rates.The short-term nature of certain assets and liabilities result in their carrying value approximating fair value. These include trading account securities, customers’ acceptance liabilities, short-term borrowings, bank acceptances outstanding, and cash and short-term assets, which include cash and due from banks and interest-earning deposits with banks. Loan commitments and letters-of-credit generally have short-term, variable-rate features and contain clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values, which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value. Certain assets, the most significant being operating lease assets, bank owned life insurance, and premises and equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly, mortgage servicing rights and relationship intangibles are not considered financial instruments and are not included in the following tables. Accordingly, this fair value information is not intended to, and does not, represent Huntington’s underlying value. 

2024 Form 10-K     145

Table of Contents

The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments.(dollar amounts in millions)Amortized CostLower of Cost or MarketFair Value or Fair Value OptionTotal Carrying AmountEstimated Fair ValueAt December 31, 2024Financial AssetsCash and short-term assets$13,332 $— $— $13,332 $13,332 Trading account securities— — 53 53 53 Available-for-sale securities— — 27,273 27,273 27,273 Held-to-maturity securities16,368 — — 16,368 14,086 Other securities792 — 31 823 823 Loans held for sale— 2 652 654 654 Net loans and leases (1)127,625 — 173 127,798 125,557 Derivative assets— — 266 266 266 Assets held in trust for deferred compensation plans— — 191 191 191 Financial LiabilitiesDeposits (2)162,448 — — 162,448