LOANS AND LEASES (Tables)

6 Months Ended

Jun. 30, 2024

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


(dollar amounts in millions)	At June 30, 2024		At December 31, 2023


















Commercial loan and lease portfolio:
Commercial and industrial	$	52,307	$	50,657
Commercial real estate	11,933		12,422
Lease financing	5,202		5,228
Total commercial loan and lease portfolio	69,442		68,307
Consumer loan portfolio:
Residential mortgage	24,069		23,720
Automobile	13,233		12,482
Home equity	10,076		10,113
RV and marine	6,042		5,899
Other consumer	1,560		1,461
Total consumer loan portfolio	54,980		53,675
Total loans and leases (1)(2)	124,422		121,982
Allowance for loan and lease losses	(2,304)		(2,255)
Net loans and leases	$	122,118	$	119,727

(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 $354 million and $323 million at June 30, 2024 and December 31, 2023, respectively.

(2)The total amount of accrued interest recorded for these loans and leases at June 30, 2024 was $325 million and $221 million of commercial and consumer loan and lease portfolios, respectively, and at December 31, 2023 was $333 million and $220 million of commercial and consumer loan and lease portfolios, respectively. Accrued interest is presented in accrued income and other receivables within the Unaudited Consolidated Balance Sheets.

Direct Financing Lease, Lease Income

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


(dollar amounts in millions)	At June 30, 2024		At December 31, 2023

Lease payments receivable	$	4,976	$	4,980
Estimated residual value of leased assets	813		804
Gross investment in lease financing receivables	5,789		5,784
Deferred origination costs	54		54
Deferred fees, unearned income and other	(641)		(610)
Total lease financing receivables	$	5,202	$	5,228

NALs and Past Due Loans

The following table presents NALs by class.


	At June 30, 2024				At December 31, 2023
(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	$	68	$	346	$	66	$	344
Commercial real estate	69		194		64		140
Lease financing	—		13		3		14
Residential mortgage	—		80		—		72
Automobile	—		4		—		4
Home equity	—		95		—		91
RV and marine	—		1		—		2

Total nonaccrual loans and leases	$	137	$	733	$	133	$	667

Aging analysis of loans and leases

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


	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
At June 30, 2024
Commercial and industrial	$	80	$	35	$	141	$	256	$	52,051	$	—	$	52,307	$	1	(2)
Commercial real estate	4		10		94		108		11,825		—		11,933		—
Lease financing	40		12		5		57		5,145		—		5,202		4
Residential mortgage	218		79		187		484		23,410		175		24,069		138		(3)
Automobile	88		20		11		119		13,114		—		13,233		8
Home equity	65		29		80		174		9,902		—		10,076		18
RV and marine	19		5		4		28		6,014		—		6,042		3
Other consumer	13		5		4		22		1,538		—		1,560		3
Total loans and leases	$	527	$	195	$	526	$	1,248	$	122,999	$	175	$	124,422	$	175
At December 31, 2023
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

(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 June 30, 2024
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2024		2023		2022		2021		2020		Prior						Total
Commercial and industrial
Credit Quality Indicator (1):
Pass	$	8,164	$	10,077	$	7,883	$	2,992	$	1,870	$	2,137	$	15,943	$	5	$	49,071
OLEM	66		242		123		53		17		30		259		—		790
Substandard	205		372		495		176		101		197		900		—		2,446

Total Commercial and industrial	$	8,435	$	10,691	$	8,501	$	3,221	$	1,988	$	2,364	$	17,102	$	5	$	52,307
Commercial real estate
Credit Quality Indicator (1):
Pass	$	625	$	1,246	$	3,119	$	1,490	$	1,058	$	2,134	$	531	$	—	$	10,203
OLEM	25		25		387		173		1		81		60		—		752
Substandard	126		174		249		174		23		217		15		—		978

Total Commercial real estate	$	776	$	1,445	$	3,755	$	1,837	$	1,082	$	2,432	$	606	$	—	$	11,933
Lease financing
Credit Quality Indicator (1):
Pass	$	851	$	1,804	$	1,072	$	674	$	449	$	221	$	—	$	—	$	5,071
OLEM	1		14		16		3		6		9		—		—		49
Substandard	1		17		34		12		7		11		—		—		82

Total Lease financing	$	853	$	1,835	$	1,122	$	689	$	462	$	241	$	—	$	—	$	5,202
Residential mortgage
Credit Quality Indicator (2):
750+	$	802	$	2,379	$	4,048	$	5,872	$	3,167	$	2,771	$	—	$	—	$	19,039
650-749	343		651		809		840		462		855		—		—		3,960
<650	21		43		98		102		64		567		—		—		895

Total Residential mortgage	$	1,166	$	3,073	$	4,955	$	6,814	$	3,693	$	4,193	$	—	$	—	$	23,894
Automobile
Credit Quality Indicator (2):
750+	$	2,155	$	1,997	$	1,683	$	1,230	$	532	$	246	$	—	$	—	$	7,843
650-749	1,078		1,302		947		639		246		117		—		—		4,329
<650	114		259		279		245		99		65		—		—		1,061

Total Automobile	$	3,347	$	3,558	$	2,909	$	2,114	$	877	$	428	$	—	$	—	$	13,233
Home equity
Credit Quality Indicator (2):
750+	$	99	$	376	$	405	$	483	$	502	$	228	$	4,487	$	227	$	6,807
650-749	41		102		86		54		48		89		2,019		223		2,662
<650	1		5		9		5		4		43		409		131		607

Total Home equity	$	141	$	483	$	500	$	542	$	554	$	360	$	6,915	$	581	$	10,076
RV and marine
Credit Quality Indicator (2):
750+	$	605	$	1,010	$	897	$	784	$	529	$	799	$	—	$	—	$	4,624
650-749	117		317		216		224		136		258		—		—		1,268
<650	1		16		20		32		22		59		—		—		150

Total RV and marine	$	723	$	1,343	$	1,133	$	1,040	$	687	$	1,116	$	—	$	—	$	6,042
Other consumer
Credit Quality Indicator (2):
750+	$	160	$	126	$	65	$	30	$	14	$	54	$	435	$	—	$	884
650-749	66		72		30		12		3		12		393		11		599
<650	2		9		6		2		1		2		41		14		77

Total Other consumer	$	228	$	207	$	101	$	44	$	18	$	68	$	869	$	25	$	1,560


	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

(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.

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


	Term Loans Gross Charge-offs by Origination Year												Revolver Gross Charge-offs		Revolver Converted to Term Loans Gross Charge-offs
(dollar amounts in millions)	2024		2023		2022		2021		2020		Prior						Total
Three months ended June 30, 2024
Commercial and industrial	$	—	$	5	$	19	$	7	$	—	$	2	$	10	$	—	$	43
Commercial real estate	9		1		21		1		—		18		—		—		50
Lease financing	—		1		1		—		—		—		—		—		2
Residential mortgage	—		—		—		—		—		1		—		—		1
Automobile	—		4		4		3		1		2		—		—		14
Home equity	—		—		—		—		—		—		1		1		2
RV and marine	—		—		1		1		1		3		—		—		6
Other consumer	2		6		3		2		1		4		—		9		27
Total	$	11	$	17	$	49	$	14	$	3	$	30	$	11	$	10	$	145
Six months ended June 30, 2024
Commercial and industrial	$	—	$	10	$	30	$	22	$	11	$	4	$	20	$	1	$	98
Commercial real estate	9		2		30		2		—		24		—		—		67
Lease financing	—		1		1		1		—		1		—		—		4
Residential mortgage	—		—		—		—		—		2		—		—		2
Automobile	—		8		9		7		3		2		—		—		29
Home equity	—		—		—		—		—		—		1		3		4
RV and marine	—		1		2		3		2		6		—		—		14
Other consumer	3		13		8		4		2		7		—		18		55
Total	$	12	$	35	$	80	$	39	$	18	$	46	$	21	$	22	$	273

	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
Three months ended June 30, 2023
Commercial and industrial	$	1	$	4	$	14	$	—	$	8	$	10	$	—	$	1	$	38
Commercial real estate	—		3		—		—		5		5		—		—		13
Lease Financing	—		1		1		—		—		—		—		—		2
Residential mortgage	—		—		—		—		—		1		—		—		1
Automobile	—		3		4		2		2		—		—		—		11
Home equity	—		—		—		—		—		1		—		1		2
RV and marine	—		1		—		—		—		3		—		—		4
Other consumer	2		5		3		2		2		1		—		6		21
Total	$	3	$	17	$	22	$	4	$	17	$	21	$	—	$	8	$	92
Six months ended June 30, 2023
Commercial and industrial	$	2	$	18	$	17	$	6	$	12	$	10	$	4	$	1	$	70
Commercial real estate	—		3		19		—		5		5		—		—		32
Lease financing	—		1		1		—		—		1		—		—		3
Residential mortgage	—		—		1		—		—		2		—		—		3
Automobile	—		6		8		4		3		2		—		—		23
Home equity	—		—		—		—		—		1		1		2		4
RV and marine	—		1		1		1		1		4		—		—		8
Other consumer	3		13		8		3		3		5		—		13		48
Total	$	5	$	42	$	55	$	14	$	24	$	30	$	5	$	16	$	191

Summary of modifications

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.


	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)
Three months ended June 30, 2024
Commercial and industrial	$	34	$	116	$	—	$	41	$	191	0.37	%
Commercial real estate	—		184		—		14		198		1.66
Residential mortgage	—		15		1		1		17		0.07
Automobile	—		4		—		—		4		0.03
Home equity	—		2		—		2		4		0.04

Other consumer	1		—		—		—		1		0.06
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	35	$	321	$	1	$	58	$	415	0.33	%
Three months ended June 30, 2023
Commercial and industrial	$	—	$	138	$	—	$	—	$	138	0.28	%
Commercial real estate	—		134		—		—		134		1.02
Residential mortgage	—		12		2		1		15		0.06
Automobile	—		4		—		1		5		0.04
Home equity	—		1		—		3		4		0.04

Other consumer	1		—		—		—		1		0.07
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	1	$	289	$	2	$	5	$	297	0.26	%
Six months ended June 30, 2024
Commercial and industrial	$	84	$	144	$	—	$	42	$	270	0.52	%
Commercial real estate	—		198		—		14		212		1.78
Residential mortgage	—		23		4		1		28		0.12
Automobile	—		7		—		1		8		0.06
Home equity	—		3		—		6		9		0.09

Other consumer	1		—		—		—		1		0.06
Total loans to borrowers experiencing financial difficulty in which modifications were made	$	85	$	375	$	4	$	64	$	528	0.42	%
Six months ended June 30, 2023
Commercial and industrial	$	35	$	198	$	—	$	3	$	236	0.47	%
Commercial real estate	—		148		—		—		148		1.12
Residential mortgage	—		35		2		2		39		0.17
Automobile	—		7		—		1		8		0.06
Home equity	—		1		—		5		6		0.06
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	$	36	$	390	$	2	$	11	$	439	0.38	%

(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.


	Interest Rate Reduction (1)				Term Extension (1)
	Weighted-average contractual interest rate				Weighted-average years added to the life
	From		To
Three months ended June 30, 2024
Commercial and industrial	8.46	%	8.21	%	0.7
Commercial real estate	7.98	%	7.85	%	0.4
Residential mortgage					7.4




Three months ended June 30, 2023
Commercial and industrial					0.7
Commercial real estate					0.5
Residential mortgage					8.8




Six months ended June 30, 2024
Commercial and industrial	8.40	%	7.57	%	0.8
Commercial real estate	7.98	%	7.85	%	0.4
Residential mortgage					7.6
Automobile					1.6

Home equity	9.28	%	6.69	%	12.9


Six months ended June 30, 2023
Commercial and industrial	7.68	%	6.94	%	0.9
Commercial real estate					0.5
Residential mortgage					7.2
Automobile					2.0
Home equity	8.37	%	5.86	%	15.5

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

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


	Past Due
(dollar amounts in millions)	30-59 Days		60-89 Days		90 or more days		Total		Current		Total
At June 30, 2024
Commercial and industrial	$	16	$	1	$	7	$	24	$	396	$	420
Commercial real estate	—		—		4		4		244		248
Residential mortgage	9		6		8		23		29		52
Automobile	2		1		—		3		12		15
Home equity	1		1		2		4		11		15
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		2		2
Total loans to borrowers experiencing financial difficulty in which modifications were made in the twelve months ended June 30, 2024	$	28	$	9	$	21	$	58	$	695	$	753
At June 30, 2023 (1)
Commercial and industrial	$	1	$	1	$	—	$	2	$	234	$	236
Commercial real estate	—		—		—		—		148		148
Residential mortgage	7		3		4		14		25		39
Automobile	1		—		—		1		7		8
Home equity	1		—		—		1		5		6
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		1		1

Total loans to borrowers experiencing financial difficulty in which modifications were made in the six months ended June 30, 2023 (1)	$	10	$	4	$	4	$	18	$	421	$	439

(1) Huntington adopted ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures effective January 1, 2023, therefore, the June 30, 2023 presentation only includes loans since guidance became effective.