Company: HBAN
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000049196-25-000038
Chunk: 140

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 140
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 affecting the timing and amount of cash flows. The fair value portfolio level basis adjustment on our hedged MBS portfolio has not been attributed to the individual available-for-sale securities in our Unaudited Consolidated Balance Sheets.The following table presents the change in fair value for derivatives designated as fair value hedges as well as the offsetting change in fair value on the hedged item.Three Months Ended(dollar amounts in millions)March 31, 2025March 31, 2024Interest rate contractsChange in fair value of interest rate swaps hedging investment securities (1)$(122)$71 Change in fair value of hedged investment securities (1)123 (72)Change in fair value of interest rate swaps hedging long-term debt (2)143 (128)Change in fair value of hedged long-term debt (2)(143)128 (1)Recognized in Interest income—available-for-sale securities—taxable in the Unaudited Consolidated Statements of Income.(2)Recognized in Interest expense—long-term debt in the Unaudited Consolidated Statements of Income.

2025 1Q Form 10-Q     71

The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges.Amortized CostCumulative Amount of Fair Value Hedging Adjustment To Hedged Items(dollar amounts in millions)At March 31, 2025At December 31, 2024At March 31, 2025At December 31, 2024AssetsInvestment securities (1)$16,198 $16,390 $(336)$(458)LiabilitiesLong-term debt (2)11,606 11,589 (80)(223)(1)Amounts represent the amortized cost basis of closed portfolios used to designate hedging relationships under the portfolio layer method. The hedged item is a layer of the closed portfolio that is expected to be remaining at the end of the hedging relationship. (2)Excluded from the above table are the cumulative amount of fair value hedge adjustments remaining for long-term debt for which hedge accounting has been discontinued in the amounts of $(53) million at March 31, 2025 and $(56) million at December 31, 2024.Cash Flow HedgesAt March 31, 2025, Huntington had $26.3 billion of interest rate swaps and floors. These are designated as cash flow hedges for variable-rate commercial loans. The change in