Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 208

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 208
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-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due and 120-days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150-days past due. The remaining balance is in delinquent status until a modification can be completed, or the loan goes through the foreclosure process. 

2024 Form 10-K     69

Table of Contents

The following table reflects NCO detail. 

Table 15 - Net Loan and Lease Charge-offsYear Ended December 31,(dollar amounts in millions)202420232022Net charge-offs (recoveries) by loan and lease type:Commercial:Commercial and industrial$166 $107 $(2)Commercial real estate52 57 8 Lease financing(1)(6)9 Total commercial217 158 15 Consumer:Residential mortgage1 2 (2)Automobile35 21 6 Home equity(1)(1)(5)RV and marine22 12 8 Other consumer98 81 99 Total consumer155 115 106 Total net charge-offs$372 $273 $121 Net charge-offs (recoveries) as a percentage of average loans:Commercial:Commercial and industrial0.32 %0.22 %— %Commercial real estate0.43 0.43 0.06 Lease financing(0.03)(0.12)0.18 Total commercial0.31 0.23 0.03 Consumer:Residential mortgage0.01 0.01 (0.01)Automobile0.26 0.16 0.05 Home equity(0.01)(0.01)(0.05)RV and marine0.36 0.21 0.15 Other consumer6.32 6.03 7.55 Total consumer0.28 0.22 0.21 Net charge-offs as a % of average loans0.30 %0.23 %0.11 %

NCOs were 0.30% of average loans and leases in 2024, up from 0.23% in 2023, reflecting the continued normalization of net charge-offs. NCOs for commercial loans and leases were higher, with net charge-offs of 0.31%