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LOANS / LEASES
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
LOANS / LEASES LOANS AND LEASES
The following table provides a detailed listing of Huntington’s loan and lease portfolio at March 31, 2022 and December 31, 2021.
(dollar amounts in millions)March 31, 2022December 31, 2021
Commercial loan and lease portfolio:
Commercial and industrial$42,236 $41,688 
Commercial real estate15,391 14,961 
Lease financing4,978 5,000 
Total commercial loan and lease portfolio62,605 61,649 
Consumer loan portfolio:
Residential mortgage19,942 19,256 
Automobile13,480 13,434 
Home equity10,343 10,550 
RV and marine5,191 5,058 
Other consumer1,256 1,320 
Total consumer loan portfolio50,212 49,618 
Total loans and leases (1) (2)112,817 111,267 
Allowance for loan and lease losses(2,018)(2,030)
Net loans and leases$110,799 $109,237 
(1)Loans and leases are reported at principal amount outstanding including unamortized purchase premiums and discounts, unearned income, and net direct fees and costs associated with originating and acquiring loans and leases. The aggregate amount of these loan and lease adjustments was a net discount of $11 million and $111 million at March 31, 2022 and December 31, 2021, respectively.
(2)The total amount of accrued interest recorded for these loans and leases at March 31, 2022, was $142 million and $147 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2021, was $148 million and $150 million of commercial and consumer loan and lease portfolios, respectively. Accrued interest is presented in accrued income and other receivables within the Condensed Consolidated Balance Sheets.
Lease Financing
Huntington leases equipment to customers, and substantially all such arrangements are classified as either sales-type or direct financing leases, which are included in commercial loans and leases. These leases are reported at the aggregate of lease payments receivable and estimated residual values, net of unearned and deferred income, and any initial direct costs incurred to originate these leases.
Huntington assesses net investments in leases (including residual values) for impairment and recognizes any impairment losses in accordance with the impairment guidance for financial instruments. As such, net investments in leases may be reduced by an ACL, with changes recognized as provision expense.
The following table presents net investments in lease financing receivables by category at March 31, 2022 and December 31, 2021.
(dollar amounts in millions)March 31,
2022		December 31,
2021
Lease payments receivable$4,596 $4,620 
Estimated residual value of leased assets768 774 
Gross investment in lease financing receivables5,364 5,394 
Deferred origination costs37 36 
Deferred fees, unearned income and other(423)(430)
Total lease financing receivables$4,978 $5,000 
The carrying value of residual values guaranteed was $426 million and $473 million as of March 31, 2022 and December 31, 2021, respectively. The future lease rental payments due from customers on sales-type and direct financing leases at March 31, 2022, totaled $4.6 billion and were due as follows: $903 million in 2022, $898 million in 2023, $905 million in 2024, $782 million in 2025, $642 million in 2026, and $466 million thereafter. Interest income recognized for these types of leases was $38 million and $24 million for the three-month periods ended March 31, 2022 and 2021, respectively.
Nonaccrual and Past Due Loans and Leases
The following table presents NALs by class at March 31, 2022 and December 31, 2021:
March 31, 2022December 31, 2021
(dollar amounts in millions)Nonaccrual loans and leases with no ACLTotal nonaccrual loans and leasesNonaccrual loans and leases with no ACLTotal nonaccrual loans and leases
Commercial and industrial$57 $323 $81 $370 
Commercial real estate82 114 80 104 
Lease financing9 38 3 48 
Residential mortgage— 117 — 111 
Automobile— 4 — 3 
Home equity— 84 — 79 
RV and marine— 2 — 1 
Total nonaccrual loans and leases$148 $682 $164 $716 
The following table presents an aging analysis of loans and leases, by class at March 31, 2022 and December 31, 2021:
March 31, 2022
Past Due (1) Loans Accounted for Under FVOTotal Loans
and Leases		90 or
more days
past due
and accruing
(dollar amounts in millions)30-59
 Days		60-89
 Days		90 or 
more days		TotalCurrent
Commercial and industrial$61 $19 $125 $205 $42,031 $— $42,236 $10 
Commercial real estate34 15 9 58 15,333 — 15,391 — 
Lease financing38 19 17 74 4,904 — 4,978 12 (3)
Residential mortgage132 48 312 492 19,279 171 19,942 237 (4)
Automobile69 14 8 91 13,389 — 13,480 6 
Home equity41 17 71 129 10,213 1 10,343 12 
RV and marine11 3 2 16 5,175 — 5,191 1 
Other consumer11 2 2 15 1,241 — 1,256 2 
Total loans and leases$397 $137 $546 $1,080 $111,565 $172 $112,817 $280 
December 31, 2021
Past Due (1) Loans Accounted for Under FVOTotal Loans
and Leases		90 or
more days
past due
and accruing
(dollar amounts in millions)30-59
 Days		60-89
 Days		90 or more daysTotalCurrent
Commercial and industrial$72 $69 $107 $248 $41,440 $— $41,688 $13 (2)
Commercial real estate9 1 9 19 14,942 — 14,961 — 
Lease financing39 13 17 69 4,931 — 5,000 11 (3)
Residential mortgage151 49 233 433 18,653 170 19,256 157 (4)
Automobile79 18 8 105 13,329 — 13,434 6 
Home equity48 35 76 159 10,390 1 10,550 17 
RV and marine14 4 3 21 5,037 — 5,058 3 
Other consumer13 2 3 18 1,302 — 1,320 3 
Total loans and leases$425 $191 $456 $1,072 $110,024 $171 $111,267 $210 
(1)NALs are included in this aging analysis based on the loan’s past due status.
(2)Amounts include PPP and other SBA loans and leases.
(3)Amounts include Huntington Technology Finance administrative lease delinquencies.
(4)Amounts include mortgage loans insured by U.S. government agencies.
Credit Quality Indicators
See Note 5 “Loans/Leases” to the Consolidated Financial Statements appearing in Huntington’s 2021 Annual Report on Form 10-K for a description of the credit quality indicators Huntington utilizes for monitoring credit quality and for determining an appropriate ACL level.
To facilitate the monitoring of credit quality for commercial loans, and for purposes of determining an appropriate ACL level for these loans, Huntington utilizes the following internally defined categories of credit grades:
•Pass - Higher quality loans that do not fit any of the other categories described below.
•OLEM - The credit risk may be relatively minor yet represents a risk given certain specific circumstances. If the potential weaknesses are not monitored or mitigated, the loan may weaken or the collateral may be inadequate to protect Huntington’s position in the future. For these reasons, Huntington considers the loans to be potential problem loans.
•Substandard - Inadequately protected loans resulting from the borrower’s ability to repay, equity, and/or the collateral pledged to secure the loan. These loans have identified weaknesses that could hinder normal repayment or collection of the debt. It is likely Huntington will sustain some loss if any identified weaknesses are not mitigated.
•Doubtful - Loans that have all of the weaknesses inherent in those loans classified as Substandard, with the added elements of the full collection of the loan is improbable and that the possibility of loss is high.
Loans are generally assigned a category of “Pass” rating upon initial approval and subsequently updated as appropriate based on the borrower’s financial performance.
Commercial loans categorized as OLEM, Substandard, or Doubtful are considered Criticized loans. Commercial loans categorized as Substandard or Doubtful are both considered Classified loans.
For all classes within the consumer loan portfolios, loans are assigned pool level PD factors based on the FICO range within which the borrower’s credit bureau score falls. A credit bureau score is a credit score developed by FICO based on data provided by the credit bureaus. The credit bureau score is widely accepted as the standard measure of consumer credit risk used by lenders, regulators, rating agencies, and consumers. The higher the credit bureau score, the higher likelihood of repayment and therefore, an indicator of higher credit quality.
Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. The classifications described above, and also presented in the table below, represent one of those characteristics that are closely monitored in the overall credit risk management processes.
The following tables present the amortized cost basis of loans and leases by vintage and credit quality indicator at March 31, 2022 and December 31, 2021 respectively:
As of March 31, 2022
Term Loans Amortized Cost Basis by Origination YearRevolver Total at Amortized Cost BasisRevolver Total Converted to Term Loans
(dollar amounts in millions)20222021202020192018PriorTotal
Commercial and industrial
Credit Quality Indicator (1):
Pass$5,981 $11,288 $4,865 $3,041 $1,596 $1,877 $10,896 $3 $39,547 
OLEM12 113 134 141 79 73 116 — 668 
Substandard79 315 235 292 188 304 604 — 2,017 
Doubtful— 1 1 — 2 — — — 4 
Total Commercial and industrial$6,072 $11,717 $5,235 $3,474 $1,865 $2,254 $11,616 $3 $42,236 
Commercial real estate
Credit Quality Indicator (1):
Pass$1,221 $3,858 $2,307 $2,359 $1,393 $1,629 $1,088 $— $13,855 
OLEM— 63 39 47 51 49 — — 249 
Substandard32 255 291 417 112 150 29 — 1,286 
Doubtful— — — — 1 — — — 1 
Total Commercial real estate$1,253 $4,176 $2,637 $2,823 $1,557 $1,828 $1,117 $— $15,391 
Lease financing
Credit Quality Indicator (1):
Pass$469 $1,715 $1,332 $720 $343 $284 $— $— $4,863 
OLEM3 9 27 10 3 2 — — 54 
Substandard3 5 19 19 3 12 — — 61 
Total Lease financing$475 $1,729 $1,378 $749 $349 $298 $— $— $4,978 
Residential mortgage
Credit Quality Indicator (2):
750+$903 $6,036 $3,754 $910 $519 $2,387 $— $— $14,509 
650-749284 1,704 811 318 200 984 — — 4,301 
<6502 73 69 107 125 585 — — 961 
Total Residential mortgage
$1,189 $7,813 $4,634 $1,335 $844 $3,956 $— $— $19,771 
Automobile
Credit Quality Indicator (2):
750+$786 $2,802 $1,731 $1,202 $550 $340 $— $— $7,411 
650-749567 2,280 1,060 621 313 160 — — 5,001 
<65049 431 225 166 114 83 — — 1,068 
Total Automobile
$1,402 $5,513 $3,016 $1,989 $977 $583 $— $— $13,480 
Home equity
Credit Quality Indicator (2):
750+$155 $611 $673 $29 $28 $384 $4,788 $283 $6,951 
650-74943 120 88 12 9 152 2,118 294 2,836 
<650— 2 2 3 3 67 331 147 555 
Total Home equity$198 $733 $763 $44 $40 $603 $7,237 $724 $10,342 
RV and marine
Credit Quality Indicator (2):
750+$415 $1,150 $864 $431 $433 $549 $— $— $3,842 
650-74944 419 255 157 144 221 — — 1,240 
<650— 12 14 16 20 47 — — 109 
Total RV and marine$459 $1,581 $1,133 $604 $597 $817 $— $— $5,191 
Other consumer
Credit Quality Indicator (2):
750+$135 $100 $52 $55 $19 $58 $318 $3 $740 
650-74920 43 21 28 8 25 294 21 460 
<650— 3 2 5 2 2 27 15 56 
Total Other consumer$155 $146 $75 $88 $29 $85 $639 $39 $1,256 
(1)Consistent with the credit quality disclosures, indicators for the Commercial portfolio are based on internally defined categories of credit grades which are generally refreshed at least semi-annually.
(2)Consistent with the credit quality disclosures, indicators for the Consumer portfolio are based on updated customer credit scores refreshed at least quarterly.
As of December 31, 2021
Term Loans Amortized Cost Basis by Origination YearRevolver Total at Amortized Cost BasisRevolver Total Converted to Term Loans
(dollar amounts in millions)20212020201920182017PriorTotal
Commercial and industrial
Credit Quality Indicator (1):
Pass$15,435 $5,677 $3,682 $1,983 $1,080 $1,134 $9,945 $3 $38,939 
OLEM183 178 87 83 38 73 166 — 808 
Substandard336 203 344 206 125 167 552 — 1,933 
Doubtful5 1 1 1 — — — — 8 
Total Commercial and industrial$15,959 $6,059 $4,114 $2,273 $1,243 $1,374 $10,663 $3 $41,688 
Commercial real estate
Credit Quality Indicator (1):
Pass$4,144 $2,367 $2,593 $1,456 $761 $1,124 $798 $— $13,243 
OLEM76 48 42 83 73 19 — — 341 
Substandard224 362 448 115 151 46 30 — 1,376 
Doubtful— — — 1 — — — — 1 
Total Commercial real estate$4,444 $2,777 $3,083 $1,655 $985 $1,189 $828 $— $14,961 
Lease financing
Credit Quality Indicator (1):
Pass$1,851 $1,441 $809 $417 $226 $131 $— $— $4,875 
OLEM8 32 12 4 2 — — — 58 
Substandard6 23 19 2 9 8 — — 67 
Total Lease financing$1,865 $1,496 $840 $423 $237 $139 $— $— $5,000 
Residential mortgage
Credit Quality Indicator (2):
750+$5,532 $3,857 $978 $554 $687 $1,704 $— $— $13,312 
650-7491,862 993 409 269 254 1,028 — — 4,815 
<65048 56 104 120 99 532 — — 959 
Total Residential mortgage$7,442 $4,906 $1,491 $943 $1,040 $3,264 $— $— $19,086 
Automobile
Credit Quality Indicator (2):
750+$2,993 $1,927 $1,381 $666 $345 $129 $— $— $7,441 
650-7492,393 1,237 736 380 168 55 — — 4,969 
<650380 234 178 128 70 34 — — 1,024 
Total Automobile$5,766 $3,398 $2,295 $1,174 $583 $218 $— $— $13,434 
Home equity
Credit Quality Indicator (2):
750+$645 $701 $32 $31 $34 $387 $4,772 $272 $6,874 
650-749129 94 15 13 13 161 2,324 324 3,073 
<6503 2 2 1 1 67 361 165 602 
Total Home equity$777 $797 $49 $45 $48 $615 $7,457 $761 $10,549 
RV and marine
Credit Quality Indicator (2):
750+$1,257 $933 $470 $468 $268 $319 $— $— $3,715 
650-749393 273 171 157 106 150 — — 1,250 
<6506 11 13 18 18 27 — — 93 
Total RV and marine$1,656 $1,217 $654 $643 $392 $496 $— $— $5,058 
Other consumer
Credit Quality Indicator (2):
750+$211 $34 $50 $13 $10 $27 $326 $3 $674 
650-74988 52 50 23 17 41 295 24 590 
<6502 2 5 2 — 1 27 17 56 
Total Other consumer$301 $88 $105 $38 $27 $69 $648 $44 $1,320 
(1)Consistent with the credit quality disclosures, indicators for the Commercial portfolio are based on internally defined categories of credit grades which are generally refreshed at least semi-annually.
(2)Consistent with the credit quality disclosures, indicators for the Consumer portfolio are based on updated customer credit scores refreshed at least quarterly.
TDR Loans
TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided would not otherwise be considered. However, not all loan modifications are TDRs. See Note 5 “Loans / Leases” to the Consolidated Financial Statements appearing in Huntington’s 2021 Annual Report on Form 10-K for an additional discussion of TDRs.
The following table presents, by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the three-month periods ended March 31, 2022 and 2021.
New Troubled Debt Restructurings (1)
Three Months Ended March 31, 2022
Number of
Contracts		Post-modification Outstanding Recorded Investment (2)
(dollar amounts in millions)Interest rate reductionAmortization or maturity date changeChapter 7 bankruptcyOtherTotal
Commercial and industrial53 $11 $3 $— $— $14 
Commercial real estate1 — — — — — 
Residential mortgage207 — 28 1 — 29 
Automobile625 — 4 1 — 5 
Home equity42 — 1 1 — 2 
RV and marine39 — 1 — — 1 
Other consumer30 — — — — — 
Total new TDRs997 $11 $37 $3 $— $51 
Three Months Ended March 31, 2021
Number of
Contracts		Post-modification Outstanding Recorded Investment (2)
(dollar amounts in millions)Interest rate reductionAmortization or maturity date changeChapter 7 bankruptcyOtherTotal
Commercial and industrial12 $— $5 $— $— $5 
Commercial real estate— — — — — — 
Residential mortgage86 — 13 1 — 14 
Automobile902 — 7 1 — 8 
Home equity62 — 1 2 — 3 
RV and marine49 — 1 — — 1 
Other consumer97 — — — 1 1 
Total new TDRs1,208 $— $27 $4 $1 $32 
(1)TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower.
(2)Post-modification balances approximate pre-modification balances.
Pledged Loans
The Bank has access to the Federal Reserve’s discount window and advances from the FHLB. As of March 31, 2022 and December 31, 2021, these borrowings and advances are secured by $60.9 billion and $61.1 billion, respectively, of loans.