Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 51

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 51
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 accretion is being recognized over a weighted average period of approximately 2 years for commercial loans and 4 years for consumer loans. B. Net adjustment to reduce interest expense on deposits of $1 million and $7 million for the nine-month period ended September 30, 2025 and year ended December 31, 2024, respectively, to eliminate Cadence

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amortization of the deposit discount and recognize the estimated amortization of the deposit premium on acquired interest-bearing deposits. Pro forma amortization is based on use of straight-line methodology over an estimated life of one year. C. Net adjustment to reduce interest expense on long-term debt of $2 million for the year ended December 31, 2024 associated with recognizing the estimated amortization of the premium on acquired long-term debt. Pro forma amortization is based on use of straight-line methodology over an estimated life of one year. D. Adjustment to recognize provision expense of $252 million for the year ended December 31, 2024 associated with establishing an allowance for credit losses on Cadence’s non-PCD loans following completion of the merger. E. Adjustment to reflect estimated transaction costs of $103 million directly attributable to the merger, including change in control costs included in personnel costs and legal and advisory fees included in professional services. F. Adjustment to occupancy expense of $1 million for both the nine-month period ended September 30, 2025 and the year ended December 31, 2024 to reflect an increase of depreciation expense associated with recognizing acquired property at estimated fair value and using straight-line methodology over an average life of the depreciable assets of approximately 30 years. G. Net adjustments to intangible amortization of $83 million and $129 million for the nine-month period ended September 30, 2025 and the year ended December 31, 2024, respectively, to eliminate Cadence historical amortization on core deposit and other intangible assets and record estimated amortization of acquired core deposit intangible assets related to the merger. Core deposit intangibles will be amortized using the sum-of-the-years-digits method over 10 years.

| (dollars in millions)                            |     | Estimated Fair 
          Value |     |   Estimated 
 Useful Life 
     (years) |     | Amortization Expense 
           Year ended 
    December 31, 2024 |     |         Nine-month 
       period ended 
 September 30, 2025 |
|: