SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Stock

The following is a summary of Huntington’s non-cumulative, non-voting, perpetual preferred stock outstanding.

(dollar amounts in millions)					Carrying Amount
Series	Issuance Date	Shares Outstanding	Dividend Rate	Earliest Redemption Date (1)	At June 30, 2023		At December 31, 2022
Series B (2)	12/28/2011	35,500	3-mo. LIBOR + 270 bps (3)	1/15/2017	$	23	$	23
Series E (4)	2/27/2018	5,000	3-mo. LIBOR + 288 bps (5)	4/15/2023	495		495
Series F (4)	5/27/2020	5,000	5.625	7/15/2030	494		494
Series G (4)	8/3/2020	5,000	4.45	10/15/2027	494		494
Series H (2)	2/2/2021	500,000	4.50	4/15/2026	486		486
Series I (6)	6/9/2021	7,000	5.70	12/01/2022	175		175
Series J (2)	3/6/2023	325,000	6.875	4/15/2028	317		—
Total		882,500			$	2,484	$	2,167

(1)     Redeemable at Huntington’s option on the date stated or on a quarterly basis thereafter.

(2)     Series B, H, and J preferred stock have a liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.

(3)    Series B converts to 3-month CME Term SOFR + 26 bps LIBOR spread adjustment + 270 bps effective July 15, 2023.

(4)     Series E, F, and G preferred stock have a liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.

(5)    Series E converts to 3-month CME Term SOFR + 26 bps LIBOR spread adjustment + 288 bps effective July 15, 2023.

(6)     Series I preferred stock has a liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.

The following table presents the dividends declared for each series of Preferred shares for the three-month and six-month periods ended June 30, 2023 and 2022:

	Three months ended June 30,								Six months ended June 30,
(amounts in millions, except per share data)	2023				2022				2023				2022
	Cash Dividend Declared Per Share				Cash Dividend Declared Per Share				Cash Dividend Declared Per Share				Cash Dividend Declared Per Share
Preferred Series			Amount ($)				Amount ($)				Amount ($)				Amount ($)
Series B	$	19.90	$	—	$	13.03	$	—	$	38.72	$	(1)	$	22.39	$	—
Series E	2,035.07		(10)		1,425.00		(7)		3,460.07		(17)		2,850.00		(14)
Series F	1,406.25		(7)		1,406.25		(7)		2,812.50		(14)		2,812.50		(14)
Series G	1,112.50		(6)		1,112.50		(6)		2,225.00		(12)		2,225.00		(12)
Series H	11.25		(6)		11.25		(6)		22.50		(12)		22.50		(12)
Series I	356.25		(3)		356.25		(2)		712.50		(5)		712.50		(4)
Series J	24.64		(8)		—		—		24.64		(8)		—		—
Total			$	(40)			$	(28)			$	(69)			$	(56)