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INVESTMENT SECURITIES AND OTHER SECURITIES
 12 Months Ended
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]  
Investment Securities and Other Securities INVESTMENT SECURITIES AND OTHER SECURITIES
Debt securities purchased in which Huntington has the intent and ability to hold to their maturity are classified as held-to-maturity securities. All other debt and equity securities are classified as either available-for-sale or other securities.
The following tables provide amortized cost, fair value, and gross unrealized gains and losses by investment category at December 31, 2021 and 2020:
Unrealized
(dollar amounts in millions)Amortized
Cost (1)
Gross
Gains
Gross
Losses
Fair Value
December 31, 2021
Available-for-sale securities:
U.S. Treasury$5 $— $— $5 
Federal agencies:
Residential CMO4,649 40 (40)4,649 
Residential MBS15,533 135 (160)15,508 
Commercial MBS1,896 7 (38)1,865 
Other agencies248 1 (1)248 
Total U.S. Treasury, federal agency and other agency securities22,331 183 (239)22,275 
Municipal securities3,497 62 (33)3,526 
Private-label CMO106 1 (1)106 
Asset-backed securities385 1 (4)382 
Corporate debt2,183 22 (38)2,167 
Other securities/Sovereign debt
4 — — 4 
Total available-for-sale securities$28,506 $269 $(315)$28,460 
Held-to-maturity securities:
Federal agencies:
Residential CMO$2,602 $35 $(20)$2,617 
Residential MBS7,475 41 (59)7,457 
Commercial MBS2,175 45 (5)2,215 
Other agencies193 5 — 198 
Total federal agency and other agency securities12,445 126 (84)12,487 
Municipal securities2 — — 2 
Total held-to-maturity securities$12,447 $126 $(84)$12,489 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$52 $— $— $52 
Federal Reserve Bank stock512 — — 512 
Equity securities12 — — 12 
Other securities, at fair value
Mutual funds65 — — 65 
Equity securities6 1 — 7 
Total other securities$647 $1 $— $648 
(1)Amortized cost amounts excludes accrued interest receivable, which is recorded within other assets on the Consolidated Balance Sheets. At December 31, 2021, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $62 million and $26 million, respectively.
Unrealized
(dollar amounts in millions)Amortized
Cost (1)		Gross
Gains		Gross
Losses		Fair Value
December 31, 2020
Available-for-sale securities:
U.S. Treasury$5 $— $— $5 
Federal agencies:
Residential CMO3,550 121 (5)3,666 
Residential MBS7,843 97 (5)7,935 
Commercial MBS1,151 21 (9)1,163 
Other agencies60 2 — 62 
Total U.S. Treasury, federal agency and other agency securities12,609 241 (19)12,831 
Municipal securities2,928 91 (15)3,004 
Private-label CMO9 — — 9 
Asset-backed securities185 7 — 192 
Corporate debt440 5 — 445 
Other securities/Sovereign debt
4 — — 4 
Total available-for-sale securities$16,175 $344 $(34)$16,485 
Held-to-maturity securities:
Federal agencies:
Residential CMO$1,779 $88 $— $1,867 
Residential MBS3,715 103 — 3,818 
Commercial MBS3,118 191 — 3,309 
Other agencies246 12 — 258 
Total federal agency and other agency securities8,858 394 — 9,252 
Municipal securities3 — — 3 
Total held-to-maturity securities$8,861 $394 $— $9,255 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$60 $— $— $60 
Federal Reserve Bank stock299 — — 299 
Other securities, at fair value
Mutual funds50 — — 50 
Equity securities8 1 — 9 
Total other securities$417 $1 $— $418 
(1)Amortized cost amounts excludes accrued interest receivable, which is recorded within other assets on the Consolidated Balance Sheets. At December 31, 2020, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $32 million and $20 million, respectively.
The following table provides the amortized cost and fair value of securities by contractual maturity at December 31, 2021 and 2020. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.
20212020
(dollar amounts in millions)
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Available-for-sale securities:
Under 1 year$377 $374 $308 $304 
After 1 year through 5 years1,888 1,880 1,145 1,154 
After 5 years through 10 years3,166 3,180 1,607 1,654 
After 10 years23,075 23,026 13,115 13,373 
Total available-for-sale securities$28,506 $28,460 $16,175 $16,485 
Held-to-maturity securities:
Under 1 year$2 $2 $— $— 
After 1 year through 5 years162 164 160 169 
After 5 years through 10 years44 45 131 138 
After 10 years12,239 12,278 8,570 8,948 
Total held-to-maturity securities$12,447 $12,489 $8,861 $9,255 
The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at December 31, 2021 and 2020:
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
December 31, 2021
Available-for-sale securities:
Federal agencies:
Residential CMO$2,925 $(40)$— $— $2,925 $(40)
Residential MBS13,491 (160)— — 13,491 (160)
Commercial MBS1,251 (38)— — 1,251 (38)
Other agencies140 (1)— — 140 (1)
Total federal agency and other agency securities17,807 (239)— — 17,807 (239)
Municipal securities859 (22)319 (11)1,178 (33)
Private-label CMO78 (1)— — 78 (1)
Asset-backed securities237 (4)— — 237 (4)
Corporate debt1,766 (38)— — 1,766 (38)
Total temporarily impaired available-for-sale securities$20,747 $(304)$319 $(11)$21,066 $(315)
Held-to-maturity securities:
Federal agencies:
Residential CMO$1,453 $(20)$— $— $1,453 $(20)
Residential MBS5,837 (59)— — 5,837 (59)
Commercial MBS318 (5)— — 318 (5)
Total federal agency and other agency securities7,608 (84)— — 7,608 (84)
Total temporarily impaired securities$7,608 $(84)$— $— $7,608 $(84)
Less than 12 MonthsOver 12 MonthsTotal
(dollar amounts in millions)Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses		Fair
Value		Gross Unrealized
Losses
December 31, 2020
Available-for-sale securities:
Federal agencies:
Residential CMO$302 $(5)$— $— $302 $(5)
Residential MBS1,633 (5)— — 1,633 (5)
Commercial MBS321 (9)— — 321 (9)
Total federal agency and other agency securities2,256 (19)— — 2,256 (19)
Municipal securities110 (3)490 (12)600 (15)
Asset-backed securities15 — — — 15 — 
Corporate debt51 — — — 51 — 
Total temporarily impaired available-for-sale securities$2,432 $(22)$490 $(12)$2,922 $(34)
During 2021, Huntington transferred a total of $3.0 billion of securities from the AFS portfolio to the HTM portfolio. At the time of the transfers, AOCI included a combined total of $2 million of unrealized gains attributed to these securities. This gain will be amortized into interest income over the remaining life of the securities.
At December 31, 2021 and December 31, 2020, the carrying value of investment securities pledged to secure public and trust deposits, trading account liabilities, U.S. Treasury demand notes, security repurchase agreements and to support borrowing capacity totaled $21.7 billion and $14.4 billion, respectively. There were no securities of a single issuer, which were not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at either December 31, 2021 or December 31, 2020. At December 31, 2021, all HTM debt securities are considered AAA rated. In addition, there were no HTM debt securities considered past due at December 31, 2021.
AFS Securities Impairment/HTM Securities Allowance for Credit Losses
Based on an evaluation of available information including security type, counterparty credit quality, past events, current conditions, and reasonable and supportable forecasts that are relevant to collectability, Huntington has concluded that it expects to receive all contractual cash flows from each security held in its AFS and HTM debt securities portfolio. As such, no allowance or impairment is recorded with respect to securities as of December 31, 2021.