Company: HBAN
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0000049196-25-000063
Chunk: 290

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 8
Chunk 290
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 Offsetting of Financial Liabilities and Derivative LiabilitiesGross amounts offset in the unaudited consolidated balance sheetsNet amounts of liabilities presented in the unaudited consolidated balance sheetsGross amounts not offset in theunaudited consolidatedbalance sheets(dollar amounts in millions)Gross amounts of recognized liabilitiesFinancial instrumentsCash collateral deliveredNet amountAt June 30, 2025$609 $(223)$386 $(66)$(120)$200 At December 31, 2024668 (90)578 (67)(316)195 

15. VARIABLE INTEREST ENTITIES 

Consolidated VIEsHuntington engages in activities with VIEs in the normal course of business that result in Huntington being the primary beneficiary and which are consolidated in Huntington’s financial statements. The following table provides a summary of the assets and liabilities of VIEs carried on Huntington’s Unaudited Consolidated Balance Sheets. (dollar amounts in millions)At June 30, 2025At December 31, 2024AssetsNet loans and leases$880 $1,122 Other assets246 264 Total assets$1,126 $1,386 LiabilitiesLong-term borrowings$796 $1,023 Other liabilities89 109 Total liabilities$885 $1,132 

2025 2Q Form 10-Q     82

Table of Contents

Huntington previously completed a securitization transaction by transferring automobile loans to a SPE which was deemed to be a VIE, with the SPE in turn issuing asset-backed notes. The primary purpose of the VIE in the securitization transaction was to issue asset-backed securities with varying levels of credit subordination and payment priority. Huntington retained notes and residual interest in the VIE and, therefore, has an obligation to absorb losses and a right to receive benefits that could potentially be significant to the VIE. In addition, Huntington retained servicing rights for the underlying loans and, therefore, holds the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE. The assets of the VIE are restricted to the settlement of the asset-backed securities and other obligations of the VIE. Third-party holders of the asset-backed notes do not have recourse to the general assets of Huntington.The economic performance of the VIE is most significantly impacted by the performance of the underlying loans. The VIE is exposed to credit