Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 212

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 212
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 of managing our exposures to the variability of interest rates. The interest rates variability may impact either the fair value of the assets and liabilities or impact the cash flows attributable to net interest margin. These positions are used to protect the fair value of asset and liabilities by converting the contractual interest rate on a specified amount of assets and liabilities (i.e., notional amounts) to another interest rate index. The positions are also used to hedge the variability in cash flows attributable to the contractually specified interest rate by converting the variable rate index into a fixed rate. The volume, maturity, and mix of derivative positions change frequently as we adjust our broader interest rate risk management objectives and the balance sheet positions to be hedged. For further information, including the notional amount and fair values of these derivatives, refer to Note 19 - “Derivative Financial Instruments” of the Notes to Consolidated Financial Statements. 

72     Huntington Bancshares Incorporated

Table of Contents

The following presents additional information about the interest rate swaps and floors used in Huntington’s asset and liability management activities.

Table 18 - Information on Asset Liability Management InstrumentsNotional ValueWeighted-Average Maturity (years)Fair ValueWeighted-Average Fixed RateWeighted-Average Reset Rate(dollar amounts in millions)At December 31, 2024Asset conversion swapsSecurities (1):Pay Fixed - Receive SOFR$10,059 1.92 $407 1.38 %4.65 %Pay Fixed - Receive SOFR - forward starting (2)928 7.46 45 2.81 — Loans:Receive Fixed - Pay SOFR10,075 2.18 (255)2.75 4.60 Receive Fixed - Pay SOFR - forward starting (3)7,225 4.03 (75)3.62 — Liability conversion swapsReceive Fixed - Pay SOFR7,272 3.24 (197)3.30 4.66 Receive Fixed - Pay SOFR - forward starting (3)4,075 4.60 (56)3.64 — Purchased floor spreads (4)Purchased Floor Spread - SOFR 6,000 1.83 24 2.79 / 3.87— Basis swaps (5)Pay SOFR- Receive Fed Fund (economic hedges)174 1.58 — 5.19 5.21 Pay Fed Fund