Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 213

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 213
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 - Receive SOFR (economic hedges) 1 10.81 — 5.24 5.15 Total swap portfolio$45,809 $(107)At December 31, 2023Asset conversion swapsSecurities (1):Pay Fixed - Receive SOFR$10,721 3.11 $683 1.37 %5.42 %Pay Fixed - Receive SOFR - forward starting (2)928 8.46 18 2.81 — Loans:Receive Fixed - Pay SOFR9,275 3.06 (243)2.77 5.34 Receive Fixed - Pay SOFR - forward starting (6)1,400 4.20 (19)2.90 — Liability conversion swapsReceive Fixed - Pay SOFR7,568 3.40 (199)2.95 5.14 Receive Fixed - Pay SOFR - forward starting (6)2,125 3.16 45 4.33 — Purchased floor spreads (4)Purchased Floor Spread - SOFR5,000 2.29 38 2.97 / 3.97— Purchased Floor Spread - SOFR forward starting (7)1,000 5.54 26 1.88 / 3.38— Basis swaps (5)Pay SOFR- Receive Fed Fund (economic hedges) 174 2.58— 5.33 5.41 Pay Fed Fund - Receive SOFR (economic hedges) 1 11.81 — 5.45 5.33 Total swap portfolio$38,192 $349 

(1)Amounts include interest rate swaps as fair value hedges of fixed-rate investment securities using the portfolio layer method.

(2)Forward starting swaps effective starting from April 2025 to October 2027.

(3)Forward starting swaps effective starting from January 2025 to June 2026.

(4)The weighted average fixed rates for floor spreads are the weighted average strike rates for the upper and lower bounds of the instruments.

(5)Basis swaps have variable pay and variable receive resets. Weighted average fixed fate column represents pay rate reset. 

(6)Forward starting swaps effective starting April 2024 to January 2025.

(7)Forward starting floor spreads effective starting from May 2024 to September