Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 194

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 194
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olidated VIEs at March 31, 2025 and December 31, 2024 also included investments in LIHTC operating entities that were syndicated and where we serve as the general partner and manager. As manager of these entities, we have the power to direct the activities that most significantly impact economic performance, as well as an obligation to absorb significant expected losses, of the entities.Unconsolidated VIEsThe following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest in, but is not the primary beneficiary.(dollar amounts in millions)Total AssetsTotal LiabilitiesMaximum Exposure to LossAt March 31, 2025Affordable Housing Tax Credit Partnerships$2,413 $1,024 $2,413 Trust Preferred Securities14 248 — Other Investments1,097 175 1,097 Total$3,524 $1,447 $3,510 At December 31, 2024Affordable Housing Tax Credit Partnerships$2,382 $1,065 $2,382 Trust Preferred Securities14 248 — Other Investments1,201 168 1,201 Total$3,597 $1,481 $3,583 Affordable Housing and Other Tax Credit InvestmentsHuntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the LIHTC pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity.Huntington uses the proportional amortization method to account for a majority of its investments in these entities. These investments are included in other assets. Investments that do not meet the requirements of the proportional amortization method are accounted for using the equity method. Investment losses are included in Other noninterest income in the Unaudited Consolidated Statements of Income.

2025 1Q Form 10-Q     75

The following table presents the balances of Huntington