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INVESTMENT SECURITIES AND OTHER SECURITIES
 6 Months Ended
Jun. 30, 2024
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.
Unrealized
(dollar amounts in millions)
Amortized
Cost (1)(2)
Gross
Gains		Gross
Losses		Fair Value
At June 30, 2024
Available-for-sale securities:
U.S. Treasury$6,112 $1 $(2)$6,111 
Federal agencies:
Residential CMO3,440 — (448)2,992 
Residential MBS12,586 1 (1,972)10,615 
Commercial MBS2,525 — (747)1,778 
Other agencies149 — (7)142 
Total U.S. Treasury, federal agency, and other agency securities
24,812 2 (3,176)21,638 
Municipal securities3,556 — (178)3,378 
Private-label CMO124 — (12)112 
Asset-backed securities332 — (26)306 
Corporate debt2,167 90 (247)2,010 
Other securities/sovereign debt
10 — — 10 
Total available-for-sale securities$31,001 $92 $(3,639)$27,454 
Held-to-maturity securities:
Federal agencies:
Residential CMO$4,542 $1 $(714)$3,829 
Residential MBS8,956 — (1,345)7,611 
Commercial MBS1,450 — (242)1,208 
Other agencies87 — (6)81 
Total federal agency and other agency securities15,035 1 (2,307)12,729 
Municipal securities1 — — 1 
Total held-to-maturity securities$15,036 $1 $(2,307)$12,730 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$276 $— $— $276 
Federal Reserve Bank stock519 — — 519 
Equity securities17 — — 17 
Other securities, at fair value:
Mutual funds30 — — 30 
Equity securities1 1 — 2 
Total other securities$843 $1 $— $844 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited Consolidated Balance Sheets. At June 30, 2024, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $72 million and $34 million, respectively.
(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $642 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.
Unrealized
(dollar amounts in millions)Amortized
Cost (1)(2)		Gross
Gains		Gross
Losses		Fair Value
At December 31, 2023
Available-for-sale securities:
U.S. Treasury$2,855 $1 $— $2,856 
Federal agencies:
Residential CMO3,592 — (408)3,184 
Residential MBS13,155 3 (1,776)11,382 
Commercial MBS2,536 — (709)1,827 
Other agencies161 — (6)155 
Total U.S. Treasury, federal agency, and other agency securities22,299 4 (2,899)19,404 
Municipal securities3,536 2 (165)3,373 
Private-label CMO131 — (12)119 
Asset-backed securities387 — (31)356 
Corporate debt2,202 79 (238)2,043 
Other securities/sovereign debt
10 — — 10 
Total available-for-sale securities$28,565 $85 $(3,345)$25,305 
Held-to-maturity securities:
Federal agencies:
Residential CMO$4,770 $6 $(664)$4,112 
Residential MBS9,368 1 (1,145)8,224 
Commercial MBS1,509 — (224)1,285 
Other agencies101 — (6)95 
Total federal agency and other agency securities15,748 7 (2,039)13,716 
Municipal securities2 — — 2 
Total held-to-maturity securities$15,750 $7 $(2,039)$13,718 
Other securities, at cost:
Non-marketable equity securities:
Federal Home Loan Bank stock$169 $— $— $169 
Federal Reserve Bank stock507 — — 507 
Other non-marketable equity securities17 — — 17 
Other securities, at fair value:
Mutual funds30 — — 30 
Equity securities1 1 — 2 
Total other securities$724 $1 $— $725 
(1)Amortized cost amounts exclude accrued interest receivable, which is recorded within accrued income and other receivables on the Unaudited Consolidated Balance Sheets. At December 31, 2023, accrued interest receivable on available-for-sale securities and held-to-maturity securities totaled $61 million and $36 million, respectively.
(2)Excluded from the amortized cost are portfolio level basis adjustments for securities designated in fair value hedges under the portfolio layer method. The basis adjustments totaled $619 million and represent a reduction to the amortized cost of the securities being hedged. The securities being hedged under the portfolio layer method are primarily Residential CMO and Residential MBS securities.
The following table provides the amortized cost and fair value of securities by contractual maturity. Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties.
At June 30, 2024At December 31, 2023
(dollar amounts in millions)Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Available-for-sale securities:
Under 1 year$5,480 $5,469 $3,380 $3,372 
After 1 year through 5 years3,769 3,608 2,484 2,338 
After 5 years through 10 years2,396 2,235 2,392 2,255 
After 10 years19,356 16,142 20,309 17,340 
Total available-for-sale securities$31,001 $27,454 $28,565 $25,305 
Held-to-maturity securities:
Under 1 year$— $— $1 $1 
After 1 year through 5 years38 37 48 46 
After 5 years through 10 years64 60 69 66 
After 10 years14,934 12,633 15,632 13,605 
Total held-to-maturity securities$15,036 $12,730 $15,750 $13,718 
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.
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
At June 30, 2024
Available-for-sale securities:
U.S. Treasury$2,761 $(2)$— $— $2,761 $(2)
Federal agencies:
Residential CMO223 (4)2,769 (444)2,992 (448)
Residential MBS273 (4)10,253 (1,968)10,526 (1,972)
Commercial MBS— — 1,778 (747)1,778 (747)
Other agencies— — 72 (7)72 (7)
Total federal agency and other agency securities3,257 (10)14,872 (3,166)18,129 (3,176)
Municipal securities848 (25)2,422 (153)3,270 (178)
Private-label CMO— — 92 (12)92 (12)
Asset-backed securities— — 271 (26)271 (26)
Corporate debt— — 2,009 (247)2,009 (247)
Total temporarily impaired available-for-sale securities$4,105 $(35)$19,666 $(3,604)$23,771 $(3,639)
Held-to-maturity securities:
Federal agencies:
Residential CMO$202 $(2)$3,416 $(712)$3,618 $(714)
Residential MBS81 (2)7,530 (1,343)7,611 (1,345)
Commercial MBS— — 1,208 (242)1,208 (242)
Other agencies— — 81 (6)81 (6)
Total federal agency and other agency securities283 (4)12,235 (2,303)12,518 (2,307)
Total temporarily impaired held-to-maturity securities$283 $(4)$12,235 $(2,303)$12,518 $(2,307)
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
At December 31, 2023
Available-for-sale securities:
Federal agencies:
Residential CMO$543 $(7)$2,641 $(401)$3,184 $(408)
Residential MBS207 (2)10,913 (1,774)11,120 (1,776)
Commercial MBS— — 1,827 (709)1,827 (709)
Other agencies— — 81 (6)81 (6)
Total federal agency and other agency securities750 (9)15,462 (2,890)16,212 (2,899)
Municipal securities625 (19)2,496 (146)3,121 (165)
Private-label CMO— — 99 (12)99 (12)
Asset-backed securities— — 281 (31)281 (31)
Corporate debt— — 2,043 (238)2,043 (238)
Total temporarily impaired available-for-sale securities$1,375 $(28)$20,381 $(3,317)$21,756 $(3,345)
Held-to-maturity securities:
Federal agencies:
Residential CMO$156 $(1)$3,542 $(663)$3,698 $(664)
Residential MBS— — 8,108 (1,145)8,108 (1,145)
Commercial MBS— — 1,285 (224)1,285 (224)
Other agencies— — 95 (6)95 (6)
Total federal agency and other agency securities156 (1)13,030 (2,038)13,186 (2,039)
Total temporarily impaired held-to-maturity securities$156 $(1)$13,030 $(2,038)$13,186 $(2,039)
At June 30, 2024 and December 31, 2023, the carrying value of investment securities pledged to secure certain public trust deposits, trading account liabilities, U.S. Treasury demand notes, security repurchase agreements and to support borrowing capacity totaled $37.6 billion and $35.1 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 June 30, 2024 or December 31, 2023. At June 30, 2024, all HTM debt securities are comprised of securities issued by government sponsored entities or are explicitly guaranteed by the U.S. government. In addition, there were no HTM debt securities considered past due at June 30, 2024.
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 of cash flows, as of June 30, 2024, Huntington has concluded that, except for one municipal bond classified as an AFS debt security for which a $2 million write-down was recognized during the second quarter of 2024, it expects to receive all contractual cash flows from each security held in its AFS and HTM debt securities portfolio. There was no allowance related to investment securities as of June 30, 2024 or December 31, 2023.