Company: HBAN
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000049196-25-000079
Chunk: 58

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 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 3Q Form 10-Q     83

The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments.(dollar amounts in millions)At September 30, 2025At December 31, 2024Affordable housing tax credit investments$3,880 $3,628 Less: amortization(1,411)(1,246)Net affordable housing tax credit investments$2,469 $2,382 Unfunded commitments$1,017 $1,065 The following table presents other information relating to Huntington’s affordable housing tax credit investments.Three Months EndedNine Months Ended(dollar amounts in millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024Tax credits and other tax benefits recognized$86 $78 $259 $230 Proportional amortization expense included in provision for income taxes68 63 209 189 The initial investment in affordable housing tax credit investments and subsequent tax credits, benefits, and amortization are included within operating activities in the Unaudited Consolidated Statements of Cash Flows.Trust-Preferred SecuritiesHuntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Unaudited Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Unaudited Consolidated Balance Sheet as long-term debt. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Unaudited Consolidated Financial Statements.Other Investments Other investments determined to be VIEs include investments in Small Business Investment Companies, Historic Tax Credit Investments, certain equity method investments, renewable energy financings, and other miscellaneous investments.

16. COMMITMENTS AND CONTINGENT LIABILITIES 

Commitments to Extend CreditIn the ordinary course of