Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 30

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 in millions)Consumer & Regional BankingCommercial BankingTreasury / OtherHuntington ConsolidatedMajor Revenue StreamsThree months ended March 31, 2025Payments and cash management revenue$108 $32 $— $140 Wealth and asset management revenue95 6 — 101 Customer deposit and loan fees52 2 — 54 Capital markets and advisory fees4 26 — 30 Leasing revenue1 3 — 4 Insurance income17 3 — 20 Other noninterest income1 1 — 2 Net revenue from contracts with customers278 73 — 351 Noninterest income within the scope of other GAAP topics49 89 5 143 Total noninterest income$327 $162 $5 $494 Three months ended March 31, 2024Payments and cash management revenue$107 $27 $— $134 Wealth and asset management revenue85 3 — 88 Customer deposit and loan fees50 4 — 54 Capital markets and advisory fees4 25 — 29 Leasing revenue1 9 — 10 Insurance income16 3 — 19 Other noninterest income2 — — 2 Net revenue from contracts with customers265 71 — 336 Noninterest income within the scope of other GAAP topics43 74 14 131 Total noninterest income$308 $145 $14 $467 Huntington generally provides services for customers in which it acts as principal. Payment terms and conditions vary amongst services and customers, and thus impact the timing and amount of revenue recognition. 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