Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 52

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 52
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,131) |
| Issuance of shares of Huntington common stock                                 |     |                 |     |            4 |     |           7,573 |     |               |     |          |
| Issuance of shares of Huntington preferred stock                              |     |             151 |     |              |     |                 |     |               |     |          |
| Establishment of allowance for loans and leases for non-PCD loans, net of tax |     |                 |     |              |     |                 |     |               |     |     -193 |
| Merger-related transaction fees and expenses, net of tax                      |     |                 |     |              |     |                 |     |               |     |      -79 |
| Net equity-related pro forma transaction accounting adjustments               |     |           $(16) |     |       $(462) |     |          $4,760 |     |          $494 |     | $(3,403) |

Note 5. Pro Forma Adjustments to the Unaudited Condensed Combined Income Statements The following pro forma adjustments have been reflected in the unaudited pro forma condensed combined income statements for the nine-month period ended September 30, 2025 and for the year ended December 31, 2024 to give effect as if the merger had been completed on January 1, 2024. All adjustments are based on preliminary assumptions and valuations, which are subject to change as further analysis is performed and additional information becomes available. A. Net adjustments to interest income of $320 million and $655 million for the nine-month period ended September 30, 2025 and the year ended December 31, 2024, respectively, to eliminate Cadence accretion of discounts on previously acquired loans and leases and recognize the estimated accretion of the net discount on acquired loans and leases. Pro forma 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