LOANS AND LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of financing receivable portfolio segments

The following table provides a detailed listing of Huntington’s loan and lease portfolio.

	At December 31,
(dollar amounts in millions)	2023		2022
Commercial loan and lease portfolio:
Commercial and industrial	$	50,657	$	48,121
Commercial real estate	12,422		13,640
Lease financing	5,228		5,252
Total commercial loan and lease portfolio	68,307		67,013
Consumer loan portfolio:
Residential mortgage	23,720		22,226
Automobile	12,482		13,154
Home equity	10,113		10,375
RV and marine	5,899		5,376
Other consumer	1,461		1,379
Total consumer loan portfolio	53,675		52,510
Total loans and leases (1)(2)	121,982		119,523
Allowance for loan and lease losses	(2,255)		(2,121)
Net loans and leases	$	119,727	$	117,402

(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) premium of $(323) million and $3 million at December 31, 2023 and 2022, respectively.

(2)The total amount of accrued interest recorded for these loans and leases at December 31, 2023, was $333 million and $220 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2022, was $274 million and $186 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 receivables

The following table presents net investments in lease financing receivables by category.

	At December 31,
(dollar amounts in millions)	2023		2022
Lease payments receivable	$	4,980	$	4,916
Estimated residual value of leased assets	804		788
Gross investment in lease financing receivables	5,784		5,704
Deferred origination costs	54		46
Deferred fees, unearned income and other	(610)		(498)
Total lease financing receivables	$	5,228	$	5,252

Nonaccrual loans by loan class

The following table presents NALs by class. 

	At December 31, 2023				At December 31, 2022
(dollar amounts in millions)	Nonaccrual loans and leases with no ACL		Total nonaccrual loans and leases		Nonaccrual loans and leases with no ACL		Total nonaccrual loans and leases
Commercial and industrial	$	66	$	344	$	49	$	288
Commercial real estate	64		140		63		92
Lease financing	3		14		—		18
Residential mortgage	—		72		—		90
Automobile	—		4		—		4
Home Equity	—		91		—		76
RV and marine	—		2		—		1
Total nonaccrual loans and leases	$	133	$	667	$	112	$	569

Aging analysis of loans and leases

The following tables present an aging analysis of loans and leases, by class.

	At December 31, 2023
	Past Due (1)										Loans Accounted for Under FVO		Total 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		Total		Current
Commercial and industrial	$	90	$	48	$	90	$	228	$	50,429	$	—	$	50,657	$	1	(2)
Commercial real estate	28		20		32		80		12,342		—		12,422		—
Lease financing	35		15		9		59		5,169		—		5,228		4
Residential mortgage	205		88		193		486		23,060		174		23,720		146		(3)
Automobile	89		23		12		124		12,358		—		12,482		9
Home equity	66		32		83		181		9,932		—		10,113		22
RV and marine	17		5		4		26		5,873		—		5,899		3
Other consumer	13		4		4		21		1,440		—		1,461		4
Total loans and leases	$	543	$	235	$	427	$	1,205	$	120,603	$	174	$	121,982	$	189

	At December 31, 2022
	Past Due (1)										Loans Accounted for Under FVO		Total 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		Total		Current
Commercial and industrial	$	53	$	19	$	108	$	180	$	47,941	$	—	$	48,121	$	23	(2)
Commercial real estate	2		1		9		12		13,628		—		13,640		—
Lease financing	36		18		10		64		5,188		—		5,252		9
Residential mortgage	246		69		199		514		21,528		184		22,226		146		(3)
Automobile	88		20		11		119		13,035		—		13,154		9
Home equity	56		30		66		152		10,222		1		10,375		15
RV and marine	15		5		3		23		5,353		—		5,376		3
Other consumer	13		3		3		19		1,360		—		1,379		2
Total loans and leases	$	509	$	165	$	409	$	1,083	$	118,255	$	185	$	119,523	$	207

(1)NALs are included in this aging analysis based on the loan’s past due status.

(2)Amounts include SBA loans and leases.

(3)Amounts include mortgage loans insured by U.S. government agencies.

Loan and lease balances by credit quality indicator

The following tables present the amortized cost basis of loans and leases by vintage and credit quality indicator.

	At December 31, 2023
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2023		2022		2021		2020		2019		Prior						Total
Commercial and industrial
Credit Quality Indicator (1):
Pass	$	14,677	$	9,889	$	3,673	$	2,151	$	1,187	$	1,431	$	14,563	$	3	$	47,574
OLEM	213		239		64		20		12		20		462		—		1,030
Substandard	393		305		188		150		83		184		750		—		2,053
Total Commercial and industrial	$	15,283	$	10,433	$	3,925	$	2,321	$	1,282	$	1,635	$	15,775	$	3	$	50,657
Commercial real estate
Credit Quality Indicator (1):
Pass	$	1,395	$	3,253	$	1,774	$	1,063	$	1,152	$	1,288	$	585	$	—	$	10,510
OLEM	163		406		112		65		32		54		60		—		892
Substandard	164		404		176		10		137		114		15		—		1,020
Total Commercial real estate	$	1,722	$	4,063	$	2,062	$	1,138	$	1,321	$	1,456	$	660	$	—	$	12,422
Lease financing
Credit Quality Indicator (1):
Pass	$	1,973	$	1,284	$	828	$	583	$	243	$	106	$	—	$	—	$	5,017
OLEM	16		22		6		5		2		9		—		—		60
Substandard	20		66		31		16		13		5		—		—		151
Total Lease financing	$	2,009	$	1,372	$	865	$	604	$	258	$	120	$	—	$	—	$	5,228
Residential mortgage
Credit Quality Indicator (2):
750+	$	2,077	$	3,963	$	6,028	$	3,292	$	749	$	2,191	$	—	$	—	$	18,300
650-749	950		1,024		964		510		186		775		—		—		4,409
<650	24		79		82		64		85		503		—		—		837
Total Residential mortgage	$	3,051	$	5,066	$	7,074	$	3,866	$	1,020	$	3,469	$	—	$	—	$	23,546
Automobile
Credit Quality Indicator (2):
750+	$	2,624	$	1,964	$	1,525	$	740	$	367	$	85	$	—	$	—	$	7,305
650-749	1,438		1,305		907		370		168		53		—		—		4,241
<650	170		281		266		118		64		37		—		—		936
Total Automobile	$	4,232	$	3,550	$	2,698	$	1,228	$	599	$	175	$	—	$	—	$	12,482
Home Equity
Credit Quality Indicator (2):
750+	$	381	$	429	$	512	$	534	$	17	$	244	$	4,454	$	233	$	6,804
650-749	136		100		65		57		7		101		2,083		230		2,779
<650	2		6		3		3		2		43		344		127		530
Total Home equity	$	519	$	535	$	580	$	594	$	26	$	388	$	6,881	$	590	$	10,113
RV and marine
Credit Quality Indicator (2):
750+	$	1,206	$	971	$	867	$	588	$	295	$	612	$	—	$	—	$	4,539
650-749	289		248		252		158		91		210		—		—		1,248
<650	4		12		21		18		14		43		—		—		112
Total RV and marine	$	1,499	$	1,231	$	1,140	$	764	$	400	$	865	$	—	$	—	$	5,899
Other consumer
Credit Quality Indicator (2):
750+	$	186	$	80	$	39	$	19	$	17	$	48	$	424	$	3	$	816
650-749	98		43		17		6		5		12		383		13		577
<650	4		5		3		1		1		1		39		14		68
Total Other consumer	$	288	$	128	$	59	$	26	$	23	$	61	$	846	$	30	$	1,461

	At December 31, 2022
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2022		2021		2020		2019		2018		Prior						Total
Commercial and industrial
Credit Quality Indicator (1):
Pass	$	18,092	$	6,742	$	3,332	$	2,107	$	1,156	$	1,186	$	13,060	$	3	$	45,678
OLEM	108		139		72		21		49		26		113		—		528
Substandard	368		183		203		212		142		256		550		—		1,914
Doubtful	—		—		—		—		—		1		—		—		1
Total Commercial and industrial	$	18,568	$	7,064	$	3,607	$	2,340	$	1,347	$	1,469	$	13,723	$	3	$	48,121
Commercial real estate
Credit Quality Indicator (1):
Pass	$	4,022	$	3,115	$	1,562	$	1,662	$	829	$	1,020	$	519	$	—	$	12,729
OLEM	61		53		1		43		6		9		—		—		173
Substandard	231		116		92		74		84		140		1		—		738
Total Commercial real estate	$	4,314	$	3,284	$	1,655	$	1,779	$	919	$	1,169	$	520	$	—	$	13,640
Lease financing
Credit Quality Indicator (1):
Pass	$	1,930	$	1,291	$	952	$	447	$	186	$	143	$	—	$	—	$	4,949
OLEM	32		9		15		18		6		3		—		—		83
Substandard	65		37		74		24		9		11		—		—		220
Total Lease financing	$	2,027	$	1,337	$	1,041	$	489	$	201	$	157	$	—	$	—	$	5,252
Residential mortgage
Credit Quality Indicator (2):
750+	$	3,666	$	6,274	$	3,566	$	846	$	469	$	2,070	$	—	$	—	$	16,891
650-749	1,394		1,172		617		211		137		777		—		—		4,308
<650	49		68		61		95		90		480		—		—		843
Total Residential mortgage	$	5,109	$	7,514	$	4,244	$	1,152	$	696	$	3,327	$	—	$	—	$	22,042
Automobile
Credit Quality Indicator (2):
750+	$	2,770	$	2,212	$	1,243	$	777	$	289	$	98	$	—	$	—	$	7,389
650-749	1,944		1,508		683		367		162		52		—		—		4,716
<650	307		352		173		115		67		35		—		—		1,049
Total Automobile	$	5,021	$	4,072	$	2,099	$	1,259	$	518	$	185	$	—	$	—	$	13,154
Home equity
Credit Quality Indicator (2):
750+	$	463	$	573	$	611	$	23	$	20	$	301	$	4,787	$	252	$	7,030
650-749	131		88		68		9		8		122		2,129		261		2,816
<650	3		3		3		2		2		51		335		129		528
Total Home equity	$	597	$	664	$	682	$	34	$	30	$	474	$	7,251	$	642	$	10,374
RV and marine
Credit Quality Indicator (2):
750+	$	1,148	$	1,031	$	731	$	361	$	354	$	438	$	—	$	—	$	4,063
650-749	290		315		200		118		113		169		—		—		1,205
<650	5		18		15		17		17		36		—		—		108
Total RV and marine	$	1,443	$	1,364	$	946	$	496	$	484	$	643	$	—	$	—	$	5,376
Other consumer
Credit Quality Indicator (2):
750+	$	207	$	64	$	35	$	34	$	13	$	52	$	393	$	3	$	801
650-749	71		30		12		15		4		14		355		16		517
<650	3		3		2		3		1		2		33		14		61
Total Other consumer	$	281	$	97	$	49	$	52	$	18	$	68	$	781	$	33	$	1,379

(1)Consistent with the credit quality disclosures, indicators for the Commercial portfolio are based on internally defined categories of credit grades.

(2)Consistent with the credit quality disclosures, indicators for the Consumer portfolio are based on updated customer credit scores refreshed at least quarterly.

Detailed troubled debt restructuring information by class

The following tables present the gross charge-offs of loans and leases by vintage.

	Year Ended December 31, 2023
	Term Loans Gross Charge-offs by Origination Year												Revolver Gross Charge-offs		Revolver Converted to Term Loans Gross Charge-offs
(dollar amounts in millions)	2023		2022		2021		2020		2019		Prior						Total
Commercial and industrial	$	9	$	47	$	48	$	14	$	33	$	13	$	11	$	2	$	177
Commercial real estate	8		9		31		—		26		4		7		—		85
Lease Financing	—		4		2		1		1		—		—		—		8
Residential mortgage	—		—		1		—		—		4		—		—		5
Automobile	3		16		16		7		5		3		—		—		50
Home equity	—		—		—		—		—		1		2		6		9
RV and marine	—		2		4		3		3		7		—		—		19
Other consumer	14		23		13		5		5		12		—		29		101
Total	$	34	$	101	$	115	$	30	$	73	$	44	$	20	$	37	$	454

The following table summarizes the amortized cost basis of loans modified during the reporting period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of modification.

	Year Ended December 31, 2023
	Amortized Cost
(dollar amounts in millions)	Interest rate reduction		Term extension		Payment deferral		Combo - interest rate reduction and term extension		Total		% of total loan class (1)
Commercial and industrial	$	64	$	387	$	—	$	4	$	455	0.90	%
Commercial real estate	2		151		—		4		157		1.26
Residential mortgage	—		58		2		4		64		0.27
Automobile	—		14		—		1		15		0.12
Home equity	—		2		—		10		12		0.12
RV and marine	—		1		—		—		1		0.02
Other consumer	1		—		—		—		1		0.07
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	67	$	613	$	2	$	23	$	705	0.58	%

(1)Represents the amortized cost of loans modified during the reporting period as a percentage of the period-end loan balance by class.

The following table describes the financial effect of the modification made to borrowers experiencing financial difficulty.

	Year Ended December 31, 2023
	Interest Rate Reduction (1)				Term Extension (1)
	Weighted-average contractual interest rate				Weighted-average years added to the life
	From		To
Commercial and industrial	8.62	%	8.05	%	1.0
Commercial real estate	13.42		8.75		1.0
Residential mortgage	6.32		4.64		7.7
Automobile	6.60		6.26		1.9
Home equity	8.88		6.15		14.6

(1)Certain disclosures related to financial effects of modifications do not include deemed to be immaterial.

The following table depicts the performance of loans that have been modified during the reporting period.

	At December 31, 2023
	Past Due
(dollar amounts in millions)	30-59  Days		60-89  Days		90 or  more days		Total		Current		Total
Commercial and industrial	$	21	$	25	$	7	$	53	$	402	$	455
Commercial real estate	—		—		5		5		152		157
Residential mortgage	9		8		11		28		36		64
Automobile	2		1		—		3		12		15
Home equity	1		1		1		3		9		12
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		1		1
Total loans to borrowers experiencing financial difficulty in which modifications were made in the twelve months ended December 31, 2023	$	33	$	35	$	24	$	92	$	613	$	705

The following table presents, by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification.

	At December 31, 2022
	New Troubled Debt Restructurings (1)
	Number of Contracts	Post-modification Outstanding Recorded Investment (2)
(dollar amounts in millions)		Interest rate concession		Amortization or maturity date concession		Chapter 7 bankruptcy		Other		Total
Commercial and industrial	313	$	92	$	62	$	—	$	15	$	169
Commercial real estate	26	62		27		—		—		89
Residential mortgage	806	—		109		5		—		114
Automobile	2,368	—		17		3		—		20
Home equity	228	—		8		4		—		12
RV and marine	137	—		2		1		—		3
Other consumer	127	—		—		—		1		1
Total new TDRs	4,005	$	154	$	225	$	13	$	16	$	408

(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.