Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 27

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 27
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)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Consolidated Balance Sheets. At December 31, 2023, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $61 million and $36 million, respectively.(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $619 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.

110     Huntington Bancshares Incorporated

Table of Contents

The following table provides the amortized cost and fair value of securities by contractual maturity. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.At December 31,20242023(dollar amounts in millions)Amortized CostFair ValueAmortized CostFair ValueAvailable-for-sale securities:Under 1 year$3,620 $3,624 $3,380 $3,372 After 1 year through 5 years5,993 5,844 2,484 2,338 After 5 years through 10 years1,857 1,732 2,392 2,255 After 10 years19,273 16,073 20,309 17,340 Total available-for-sale securities$30,743 $27,273 $28,565 $25,305 Held-to-maturity securities:Under 1 year$255 $256 $1 $1 After 1 year through 5 years1,818 1,796 48 46 After 5 years through 10 years65 60 69 66 After 10 years14,230 11,974 15,632 13,605 Total held-to-maturity securities$16,368 $14,086 $15,750 $13,718 The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position.Less than 12 MonthsOver 12 MonthsTotal(dollar amounts in millions)FairValueGross UnrealizedLossesFairValueGross UnrealizedLosses