Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 76

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 76
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 — 654 Net loans and leases— 113 125,444 — 125,557 Derivative assets— 606 4 (344)266 Financial LiabilitiesDeposits — 147,045 15,410 — 162,455 Short-term borrowings— 199 — — 199 Long-term debt— 11,242 5,331 — 16,573 Derivative liabilities— 666 2 (90)578 At December 31, 2023Financial AssetsTrading account securities$91 $34 $— $— $125 Available-for-sale securities2,856 19,019 3,430 — 25,305 Held-to-maturity securities— 13,718 — — 13,718 Other securities (2)30 2 — — 32 Loans held for sale— 506 10 — 516 Net loans and leases— 120 116,661 — 116,781 Derivative assets— 1,720 3 (1,330)393 Financial LiabilitiesDeposits— 135,627 15,556 — 151,183 Short-term borrowings— 620 — — 620 Long-term debt— 8,929 3,347 — 12,276 Derivative liabilities— 1,416 5 (751)670 (1)Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties.(2)Excludes securities without readily determinable fair values.

19. DERIVATIVE FINANCIAL INSTRUMENTS

Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in other assets or other liabilities, respectively) and measured at fair value.Derivative financial instruments can be designated as accounting hedges under GAAP. Designating a derivative as an accounting hedge allows Huntington to recognize gains and losses on the hedging instruments in the income statement line item where the gains and losses on the hedged item are recognized. Gains and losses on derivatives that are not designated in an effective hedge relationship under GAAP immediately impact earnings within the period they occur. 

2024 Form 10-K     147

Table of Contents

The following table presents the