Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 48

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 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’s affordable housing tax credit investments and related unfunded commitments.(dollar amounts in millions)At March 31, 2025At December 31, 2024Affordable housing tax credit investments$3,702 $3,628 Less: amortization(1,289)(1,246)Net affordable housing tax credit investments$2,413 $2,382 Unfunded commitments$1,024 $1,065 The following table presents other information relating to Huntington’s affordable housing tax credit investments.Three Months Ended(dollar amounts in millions)March 31, 2025March 31, 2024Tax credits and other tax benefits recognized$86 $76 Proportional amortization expense included in provision for income taxes70 63 There were no sales of affordable housing tax credit investments during the three-month periods ended March 31, 2025 and 2024. There was no impairment recognized for the three-month periods ended March 31, 2025 and 2024. 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.

15. COMMITMENTS AND CONTINGENT LIABILITIES 

Commitments to Extend CreditIn the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Consolidated Financial Statements. The contract amounts of these financial agreements were as follows:(dollar amounts in millions)At March 31, 2025At December 31,