BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2022

Debt Instruments [Abstract]

Schedule of Short-term Debt

Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following: 

	At December 31,
(dollar amounts in millions)	2022		2021
Federal funds purchased and securities sold under agreements to repurchase	$	253	$	320
FHLB advances	1,700		—
Other borrowings	74		14
Total short-term borrowings	$	2,027	$	334

Schedule of Long-Term Debt

Huntington’s long-term debt consisted of the following:

	At December 31,
(dollar amounts in millions)	2022		2021
The Parent Company:
Senior Notes:
2.67% Huntington Bancshares Incorporated senior notes due 2024	$	762	$	812
4.05% Huntington Bancshares Incorporated senior notes due 2025	481		527
4.51% Huntington Bancshares Incorporated senior notes due 2028	704		—
2.60% Huntington Bancshares Incorporated senior notes due 2030	679		744
5.08% Huntington Bancshares Incorporated senior notes due 2033	379		—
Subordinated Notes:
3.55% Huntington Bancshares Incorporated subordinated notes due 2023	225		227
Huntington Capital I Trust Preferred 5.47% junior subordinated debentures due 2027 (1) (8)	69		69
Huntington Capital II Trust Preferred 5.39% junior subordinated debentures due 2028 (2) (8)	32		32
Sky Financial Capital Trust III 6.17% junior subordinated debentures due 2036 (3) (8)	72		72
Sky Financial Capital Trust IV 6.17% junior subordinated debentures due 2036 (3) (8)	74		74
2.49% Huntington Bancshares Incorporated subordinated notes due 2036	1		554
2.53% Huntington Bancshares Incorporated subordinated notes due 2036	502		—
Total notes issued by the parent	3,980		3,111
The Bank:
Senior Notes:
2.55% Huntington National Bank senior notes due 2022	—		703
3.16% Huntington National Bank senior notes due 2022	—		500
1.83% Huntington National Bank senior notes due 2023	—		483
3.60% Huntington National Bank senior notes due 2023	735		748
5.42% Huntington National Bank senior notes due 2025	299		—
4.11% Huntington National Bank senior notes due 2025	486		—
5.70% Huntington National Bank senior notes due 2025	1,094		—
4.55% Huntington National Bank senior notes due 2028	766		—
5.76% Huntington National Bank senior notes due 2030	892		—
Subordinated Notes:
0.64% Huntington National Bank subordinated notes due 2022	—		113
0.96% Huntington National Bank subordinated notes due 2025	129		142
3.86% Huntington National Bank subordinated notes due 2026	218		226
3.03% Huntington National Bank subordinated notes due 2029	153		161
3.75% Huntington National Bank subordinated notes due 2030	151		169
Total notes issued by the bank	4,923		3,245
FHLB Advances:
1.04% weighted average rate, varying maturities greater than one year	211		215
Other:
Huntington Technology Finance nonrecourse debt, 3.93% weighted average interest rate, varying maturities	337		287
2.09% Huntington Preferred Capital II - Class F securities	—		75
6.65% Huntington Preferred Capital II - Class G securities (4)	50		50
6.77% Huntington Preferred Capital II - Class I securities (5)	50		50
6.90% Huntington Preferred Capital II - Class J securities (6)	75		75
7.40% Huntington Preferred Capital II - Class L Securities (7)	60		—
Total long-term debt	$	9,686	$	7,108

(1)Variable effective rate at December 31, 2022, based on three-month LIBOR +0.70%.

(2)Variable effective rate at December 31, 2022, based on three-month LIBOR +0.625%.

(3)Variable effective rate at December 31, 2022, based on three-month LIBOR +1.40%.

(4)Variable effective rate at December 31, 2022, based on three-month LIBOR +1.88%.

(5)Variable effective rate at December 31, 2022, based on three-month LIBOR +2.00%.

(6)Variable effective rate at December 31, 2022, based on three-month SOFR +2.60%.

(7)Variable effective rate at December 31, 2022 based on three-month SOFR +3.10%.

(8)Represents the outstanding amount of debentures issued to each trust and related trust-preferred securities. Refer to Note 21 “Variable Interest Entity” for trust-preferred securities details.

Schedule of Maturities of Long-term Debt

Long-term debt maturities for the next five years and thereafter are as follows:

(dollar amounts in millions)	2023		2024		2025		2026		2027		Thereafter		Total
The Parent Company:
Senior notes	$	—	$	800	$	500	$	—	$	—	$	1,900	$	3,200
Subordinated notes	225		—		—		—		70		739		1,034
The Bank:
Senior notes	724		—		1,900		—		—		1,700		4,324
Subordinated notes	—		—		130		239		—		300		669
FHLB Advances	1		—		200		—		—		1		202
Other	85		106		97		137		143		5		573
Total	$	1,035	$	906	$	2,827	$	376	$	213	$	4,645	$	10,002