Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 129

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 129
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 Some fees may be paid before any service is rendered and accordingly, such fees are deferred until the obligations pertaining to those fees are satisfied. Most Huntington contracts with customers are cancelable by either party without penalty or they are short-term in nature, with a contract duration of less than one year. Accordingly, most revenue deferred for the reporting period ended March 31, 2025 is expected to be earned within one year. Huntington does not have significant balances of contract assets or contract liabilities and any change in those balances during the reporting period ended March 31, 2025 was determined to be immaterial.

12. FAIR VALUES OF ASSETS AND LIABILITIES

See Note 18 - “Fair Value of Assets and Liabilities” to the Consolidated Financial Statements appearing in Huntington’s 2024 Annual Report on Form 10-K for a description of the valuation methodologies used for instruments measured at fair value. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. There were no such transfers during the three-month periods ended March 31, 2025 and 2024.Assets and Liabilities measured at fair value on a recurring basis

62     Huntington Bancshares Incorporated

The following tables present our assets and liabilities measured at fair value on a recurring basis, including instruments we have elected the fair value option.Fair Value Measurements at Reporting Date UsingNetting Adjustments (1)Total(dollar amounts in millions)Level 1Level 2Level 3At March 31, 2025AssetsTrading account securities:U.S. Treasury securities$348 $— $— $— $348 Other trading account securities— 129 — — 129 Total trading account securities348 129 — — 477 Available-for-sale securities:U.S. Treasury securities6,639 — — — 6,639 Residential MBS— 10,029 — — 10,029 Residential CMO— 3,822 — — 3,822 Commercial MBS— 1,795 — — 1,795 Other agencies— 123 — — 123 Municipal securities— 33 3,929 — 3,962 Corporate debt— 1,052 — — 1,052 Asset-backed securities— 251 47 — 298 Private-label CMO—