Item 1. Financial Statements

Huntington Bancshares Incorporated

Consolidated Balance Sheets (Unaudited)

	At June 30,		At December 31,
(dollar amounts in millions)	2026		2025
Assets
Cash and due from banks	$3,330		$1,783
Interest-earning deposits with banks	12,714		12,295
Trading account assets	326		63
Available-for-sale securities	35,206		26,132
Held-to-maturity securities	14,384		15,258
Other securities	1,383		994
Loans held for sale (includes $1,287 and $885, respectively, measured at fair value)	1,886		1,415
Loans and leases (includes $164 and $167, respectively, measured at fair value)	189,422		149,642
Allowance for loan and lease losses	(3,249)		(2,537)
Net loans and leases (1)	186,173		147,105
Bank-owned life insurance	3,676		2,902
Accrued income and other receivables	2,960		2,621
Premises and equipment	2,171		1,321
Goodwill	9,527		5,997
Servicing rights and other intangible assets	1,691		752
Other assets (1)	8,557		6,468
Total assets	$283,984		$225,106
Liabilities and shareholders’ equity
Liabilities
Deposits:
Demand deposits—noninterest-bearing	$40,129		$32,205
Interest-bearing	182,337		144,405
Total deposits	222,466		176,610
Short-term borrowings	3,111		1,261
Long-term debt (1) (includes $1,250 and $1,161, respectively, measured at fair value)	18,738		17,221
Other liabilities (1)	7,004		5,635
Total liabilities	251,319		200,727
Commitments and Contingent Liabilities (Note 17)
Shareholders’ equity
Preferred stock	2,881		2,731
Common stock	20		16
Capital surplus	25,150		17,244
Less treasury shares, at cost	(94)		(92)
Accumulated other comprehensive income (loss)	(2,213)		(1,908)
Retained earnings	6,880		6,351
Total Huntington shareholders’ equity	32,624		24,342
Non-controlling interest	41		37
Total equity	32,665		24,379
Total liabilities and equity	$283,984		$225,106
Common shares authorized (par value of $0.01)	2,250,000,000		2,250,000,000
Common shares outstanding	2,020,414,826		1,567,732,506
Treasury shares outstanding	7,152,410		7,187,541
Preferred stock, authorized shares	6,617,808		6,617,808
Preferred shares outstanding	891,900		885,000

(1)Includes VIE balances in net loans and leases, other assets, long-term debt, and other liabilities of $493 million, $468 million, $428 million, and $134

million, respectively, at June 30, 2026, and $669 million, $431 million, $600 million, and $152 million, respectively, at December 31, 2025. See Note 16 -

“Variable Interest Entities” for additional information.

See Notes to Unaudited Consolidated Financial Statements

42 Huntington Bancshares Incorporated

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Huntington Bancshares Incorporated
Consolidated Statements of Income (Unaudited)
	Three Months Ended				Six Months Ended
(dollar amounts in millions, except per share data, share count in thousands)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Interest and fee income:
Loans and leases	$2,772		$1,971		$5,290		$3,876
Available-for-sale securities
Taxable	285		278		543		565
Tax-exempt	34		31		67		65
Held-to-maturity securities—taxable	97		107		196		215
Other securities—taxable	17		12		33		24
Other	177		157		339		300
Total interest income	3,382		2,556		6,468		5,045
Interest expense:
Deposits	1,048		822		1,968		1,632
Short-term borrowings	18		13		34		27
Long-term debt	264		254		523		493
Total interest expense	1,330		1,089		2,525		2,152
Net interest income	2,052		1,467		3,943		2,893
Provision for credit losses	132		103		290		218
Net interest income after provision for credit losses	1,920		1,364		3,653		2,675
Noninterest income:
Payments and cash management revenue	204		165		391		320
Wealth and asset management revenue	134		102		254		203
Customer deposit and loan fees	128		95		238		181
Capital markets and advisory fees	140		84		272		151
Mortgage banking income	53		28		85		59
Insurance income	21		19		42		39
Leasing revenue	29		10		42		24
Net gains (losses) on sales of securities	2		(58)		15		(58)
Other noninterest income	74		26		128		46
Total noninterest income	785		471		1,467		965
Noninterest expense:
Personnel costs	1,010		722		2,002		1,393
Outside data processing and other services	326		182		637		352
Equipment	96		68		189		135
Net occupancy	90		54		175		119
Professional services	31		22		75		44
Marketing	38		28		75		57
Deposit and other insurance expense	38		20		73		57
Amortization of intangibles	54		11		95		22
Lease financing equipment depreciation	2		2		5		6
Other noninterest expense	124		88		257		164
Total noninterest expense	1,809		1,197		3,583		2,349
Income before income taxes	896		638		1,537		1,291
Provision for income taxes	165		96		279		218
Income after income taxes	731		542		1,258		1,073
Income attributable to non-controlling interest	4		6		8		10
Net income attributable to Huntington	727		536		1,250		1,063
Dividends on preferred shares	41		27		82		54
Net income applicable to common shares	$686		$509		$1,168		$1,009
Average common shares—basic	2,021,373		1,457,309		1,945,805		1,455,904
Average common shares—diluted	2,048,311		1,480,996		1,974,952		1,481,541
Per common share:
Net income—basic	$0.34		$0.35		$0.60		$0.69
Net income—diluted	0.33		0.34		0.59		0.68

See Notes to Unaudited Consolidated Financial Statements

2026 2Q Form 10-Q 43

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Huntington Bancshares Incorporated

Consolidated Statements of Comprehensive Income (Unaudited)

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Net income attributable to Huntington	$727		$536		$1,250		$1,063
Other comprehensive (loss) income, net of tax:
Unrealized (losses) gains on available-for-sale securities, net of hedges	(36)		97		(112)		352
Net change related to cash flow hedges on loans	(118)		83		(194)		260
Translation adjustments, net of hedges	(1)		6		(1)		7
Change in accumulated unrealized losses for pension and other post-retirement obligations	1		1		2		1
Other comprehensive (loss) income, net of tax	(154)		187		(305)		620
Comprehensive income attributable to Huntington	573		723		945		1,683
Comprehensive income attributed to non-controlling interest	4		6		8		10
Comprehensive income	$577		$729		$953		$1,693

See Notes to Unaudited Consolidated Financial Statements

44 Huntington Bancshares Incorporated

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Huntington Bancshares Incorporated

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)

(dollar amounts in millions, share amounts in thousands)	Preferred Stock		Common Stock				Capital Surplus		Treasury Stock				AOCI		Retained Earnings		Huntington Shareholders’ Equity		Non- controlling Interest		Total Equity
Amount		Shares		Amount			Shares		Amount
Three months ended June 30, 2026
Balance, beginning of period	$2,881		2,034,400		$20		$25,273		(7,269)		$(95)		$(2,059)		$6,515		$32,535		$46		$32,581
Net income															727		727		4		731
Other comprehensive loss, net of tax													(154)				(154)				(154)
Repurchases of common stock			(9,763)		—		(159)										(159)				(159)
Cash dividends declared:
Common ($0.155 per share)															(319)		(319)				(319)
Preferred															(41)		(41)				(41)
Recognition of the fair value of share-based compensation							50										50				50
Other share-based compensation activity			2,930		—		(15)								(2)		(17)				(17)
Other							1		117		1						2		(9)		(7)
Balance, end of period	$2,881		2,027,567		$20		$25,150		(7,152)		$(94)		$(2,213)		$6,880		$32,624		$41		$32,665
Three months ended June 30, 2025
Balance, beginning of period	$1,989		1,463,976		$15		$15,479		(7,164)		$(90)		$(2,433)		$5,474		$20,434		$52		$20,486
Net income															536		536		6		542
Other comprehensive income, net of tax													187				187				187
Cash dividends declared:
Common ($0.155 per share)															(230)		(230)				(230)
Preferred															(27)		(27)				(27)
Recognition of the fair value of share-based compensation							32										32				32
Other share-based compensation activity			1,797		—		(7)								(2)		(9)				(9)
Other							2		191		3						5		(16)		(11)
Balance, end of period	$1,989		1,465,773		$15		$15,506		(6,973)		$(87)		$(2,246)		$5,751		$20,928		$42		$20,970

See Notes to Unaudited Consolidated Financial Statements

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Huntington Bancshares Incorporated

Consolidated Statements of Changes in Shareholders’ Equity (continued) (Unaudited)

(dollar amounts in millions, share amounts in thousands)	Preferred Stock		Common Stock				Capital Surplus		Treasury Stock				AOCI		Retained Earnings		Huntington Shareholders’ Equity		Non- controlling Interest		Total Equity
Amount		Shares		Amount			Shares		Amount
Six months ended June 30, 2026
Balance, beginning of period	$2,731		1,574,920		$16		$17,244		(7,188)		$(92)		$(1,908)		$6,351		$24,342		$37		$24,379
Net income															1,250		1,250		8		1,258
Other comprehensive loss, net of tax													(305)				(305)				(305)
Cadence acquisition:
Issuance of common stock			461,548		4		8,064										8,068				8,068
Conversion of equity awards							117										117				117
Issuance of Series L Preferred Stock	150						—										150				150
Repurchases of common stock			(18,716)		—		(309)										(309)				(309)
Cash dividends declared:
Common ($0.31 per share)															(637)		(637)				(637)
Preferred															(82)		(82)				(82)
Recognition of the fair value of share-based compensation							95										95				95
Other share-based compensation activity			9,815		—		(64)								(2)		(66)				(66)
Other							3		36		(2)						1		(4)		(3)
Balance, end of period	$2,881		2,027,567		$20		$25,150		(7,152)		$(94)		$(2,213)		$6,880		$32,624		$41		$32,665
Six months ended June 30, 2025
Balance, beginning of period	$1,989		1,460,620		$15		$15,484		(6,984)		$(86)		$(2,866)		$5,204		$19,740		$42		$19,782
Net income															1,063		1,063		10		1,073
Other comprehensive income, net of tax													620				620				620
Cash dividends declared:
Common ($0.31 per share)															(460)		(460)				(460)
Preferred															(54)		(54)				(54)
Recognition of the fair value of share-based compensation							53										53				53
Other share-based compensation activity			5,153		—		(33)								(2)		(35)				(35)
Other							2		11		(1)						1		(10)		(9)
Balance, end of period	$1,989		1,465,773		$15		$15,506		(6,973)		$(87)		$(2,246)		$5,751		$20,928		$42		$20,970

See Notes to Unaudited Consolidated Financial Statements

46 Huntington Bancshares Incorporated

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Huntington Bancshares Incorporated

Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025
Operating activities
Net income	$1,258		$1,073
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	290		218
Depreciation, amortization, and accretion	383		397
Share-based compensation expense	95		53
Deferred income tax benefit	(203)		(173)
Net gains on sales of securities	(15)		58
Net change in:
Trading account assets	(263)		(428)
Loans held for sale	289		(226)
Other assets	(1,132)		(210)
Short-term borrowings	191		403
Other liabilities	847		(81)
Other, net	(93)		(17)
Net cash provided by operating activities	1,647		1,067
Investing activities
Change in interest-earning deposits with banks	50		185
Proceeds from:
Maturities and calls of available-for-sale securities	9,137		2,694
Maturities and calls of held-to-maturity securities	882		925
Maturities and calls of other securities	419		65
Sales of available-for-sale securities	4,538		850
Sales of other securities	17		—
Purchases of available-for-sale securities	(13,917)		(3,907)
Purchases of held-to-maturity securities	—		(515)
Purchases of other securities	(553)		(120)
Net proceeds from sales of loans and leases	335		161
Principal payments received under direct finance leases	972		740
Net loan and lease activity, excluding sales and purchases	(4,848)		(5,861)
Purchases of premises and equipment	(220)		(108)
Purchases of loans and leases	(302)		(317)
Net accrued income and other receivables activity	(4)		532
Net cash and cash equivalents received from business combinations	1,680		—
Other, net	24		31
Net cash used in investing activities	(1,790)		(4,645)
Financing activities
Increase in deposits	2,326		932
Net change in short-term borrowings	182		(138)
Net proceeds from issuance of long-term debt	6,914		2,001
Repayment of long-term debt	(6,151)		(1,136)
Dividends paid on preferred stock	(84)		(54)
Dividends paid on common stock	(564)		(453)
Repurchases of common stock	(309)		—
Other, net	(67)		(62)
Net cash provided by financing activities	2,247		1,090
Increase (decrease) in cash and cash equivalents	2,104		(2,488)
Cash and cash equivalents at beginning of period (1)	13,495		12,847
Cash and cash equivalents at end of period (1)	$15,599		$10,359

2026 2Q Form 10-Q 47

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Huntington Bancshares Incorporated

Consolidated Statements of Cash Flows (continued) (Unaudited)

	Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025
Supplemental disclosures:
Interest paid	$2,496		$2,122
Income taxes paid	95		159
Non-cash activities
Loans transferred to held-for-sale from portfolio	983		168
Loans transferred to portfolio from held-for-sale	36		11
Business combination:
Fair value of tangible assets acquired	50,341		—
Goodwill and other intangible assets	4,502		—
Fair value of liabilities assumed	46,508		—
Common stock and equity-based awards issued	8,185		—
Preferred stock issued	150		—

(1)Includes cash and due from banks and interest-earning deposits at the FRB, included within Interest-earning deposits with banks on our Unaudited

Consolidated Balance Sheets.

See Notes to Unaudited Consolidated Financial Statements

48 Huntington Bancshares Incorporated

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Huntington Bancshares Incorporated

Notes to Unaudited Consolidated Financial Statements

1**.** BASIS OF PRESENTATION

The accompanying interim Unaudited Consolidated Financial Statements of Huntington reflect all adjustments

consisting of normal recurring accruals which are, in the opinion of management, necessary for a fair statement of

the consolidated financial position, the results of operations, and cash flows for the periods presented. These

interim Unaudited Consolidated Financial Statements have been prepared according to the rules and regulations of

the SEC and, therefore, certain information and footnote disclosures normally included in annual financial

statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements

appearing in Huntington’s 2025 Annual Report on Form 10-K, which include descriptions of significant accounting

policies, as updated by the information contained in this report, should be read in conjunction with these interim

financial statements.

In conjunction with applicable accounting standards, all material subsequent events have been either recognized

in the interim Unaudited Consolidated Financial Statements or disclosed in the Notes to Unaudited Consolidated

Financial Statements. There were no other material subsequent events to disclose for the current period.

2**.** ACCOUNTING STANDARDS UPDATE

Accounting standards not yet effective

Standard	Summary of guidance	Effects on financial Statements
ASU 2025-09 - Derivatives and Hedging (Topic 815): Hedge Accounting Improvements	•More closely aligns hedge accounting with the economics of an entity’s risk management activities. •Allows grouping of forecasted transactions with similar risk exposure. •Enables hedging of variable price components of forecasted purchases or sales of nonfinancial assets. •Introduces a model for hedging interest payments on debt instruments with multiple rate options and allows a borrower to select a documented interest rate index and/or tenor without automatically discontinuing hedge accounting. •Removes the requirement for net written option test in certain compound derivative hedges.	•Effective for interim and annual reporting periods beginning after December 15, 2026, with early adoption permitted on any date on or after issuance of the ASU. •The amendments should be applied prospectively to all hedging relationships beginning on or after the date of adoption. •In the period of adoption, an entity must disclose the nature of, and reason for, the change in accounting principle and the method of applying the change. •Huntington is in the process of evaluating the impact of this ASU on its consolidated financial statements.

3**.** BUSINESS COMBINATIONS

Veritex Acquisition

On October 20, 2025, Huntington completed the acquisition of Veritex Holdings, Inc. (“Veritex”), a bank holding

company headquartered in Dallas, Texas, pursuant to the Agreement and Plan of Merger dated July 13, 2025

(“Veritex Merger Agreement”). Upon completion of the acquisition, Veritex merged with and into Huntington, with

Huntington as the surviving company, immediately followed by the merger of Veritex’s wholly owned subsidiary

bank, Veritex Community Bank, with and into Huntington’s wholly owned subsidiary bank, Huntington National

Bank, with Huntington National Bank as the surviving bank.

2026 2Q Form 10-Q 49

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Under the terms of the Veritex Merger Agreement, Huntington issued 1.95 shares of its common stock for each

outstanding share of Veritex common stock (“Veritex Merger Consideration”), in a 100% stock transaction, with cash

paid in lieu of fractional shares. In addition, each holder of an outstanding Veritex stock option received cash equal

to the per-share value of the Veritex Merger Consideration over the per-share exercise price, while any Veritex stock

option with a per-share exercise price that was equal to or greater than the per share value of the Merger

Consideration was cancelled for no consideration, and each outstanding restricted stock unit representing a right to

receive Veritex common stock was converted into a restricted stock unit representing a right to receive Huntington’s

common stock as adjusted by the 1.95 exchange ratio. Upon completion of the merger, Huntington issued 107

million shares of its common stock to Veritex shareholders of record as of the merger date, in addition to 1 million

shares issued upon the conversion of certain Veritex equity awards, resulting in total consideration from the

transaction of $1.7 billion based on the closing price of the Company’s common stock on October 17, 2025.

The acquisition of Veritex constituted a business combination in accordance with ASC Topic 805, Business

Combinations. Accordingly, the assets acquired and liabilities assumed were recorded at fair value as of the

acquisition date. The determination of fair value requires management to make estimates related to discount rates,

expected future cash flows, market conditions and other future events that are highly subjective in nature and

subject to change. Fair value estimates related to the assets and liabilities from Veritex are subject to adjustment for

up to one year after the closing date of the acquisition as additional information becomes available. As of June 30,

2026, management completed its review of information related to events or circumstances existing as of the

acquisition date.

Allocation of Purchase Consideration

The following table provides the allocation of the purchase consideration to the assets acquired and liabilities

assumed from Veritex as of October 20, 2025.

(dollar amounts in millions)		Fair Value
Purchase consideration
Fair value of common stock issued		$1,659
Fair value of equity-based awards		23
Cash		2
Total consideration		1,684
Assets acquired
Cash and due from banks		19
Interest-earning deposits with banks		943
Available-for-sale securities		1,274
Other securities		76
Loans held for sale		83
Loans and leases		9,300
Allowance for loan and lease losses		(143)
Net loans and leases		9,157
Bank-owned life insurance		87
Premises and equipment		135
Servicing rights and other intangible assets		105
Other assets		147
Total assets acquired		12,026
Liabilities assumed
Deposits		10,516
Long-term debt		159
Other liabilities		117
Total liabilities assumed		10,792
Fair value of net assets acquired		1,234
Goodwill		$450

50 Huntington Bancshares Incorporated

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In connection with the Veritex acquisition, Huntington recorded goodwill of $450 million, none of which is

anticipated to be deductible for tax purposes. The goodwill is primarily attributable to expected synergies,

operational efficiencies, and other factors to arise from the transaction. See Note 8 - “Goodwill and Other Intangible

Assets” to the Consolidated Financial Statements appearing in Huntington’s 2025 Annual Report on Form 10-K for

information regarding the allocation of goodwill to the Company’s reportable segments as a result of the acquisition,

as well as the carrying amounts and amortization of core deposit and other intangible assets.

See Note 3 - “Business Combinations” to the Consolidated Financial Statements appearing in Huntington’s 2025

Annual Report on Form 10-K for descriptions of the methods used to determine the fair values of significant assets

acquired and liabilities assumed in the Veritex acquisition.

Cadence Acquisition

On February 1, 2026, Huntington completed the acquisition of Cadence Bank (“Cadence”), a regional bank

headquartered in Houston, Texas and Tupelo, Mississippi, pursuant to an agreement by and among Huntington,

Huntington National Bank, and Cadence, whereby Cadence merged with and into Huntington National Bank, with

Huntington National Bank as the surviving bank (“Cadence Merger Agreement”).

Under the terms of the Cadence Merger Agreement, Huntington issued 2.475 shares of common stock for each

outstanding common share of Cadence in a 100% stock transaction, with cash paid in lieu of fractional shares. In

addition, each outstanding share of 5.50% Series A Non-Cumulative Perpetual Preferred Stock of Cadence was

converted into the right to receive one depositary share representing 1/1000 of a share of a newly created 5.50%

Series L Non-Cumulative Perpetual Preferred Stock of Huntington. Upon completion of the merger, Huntington

issued 462 million shares of its common stock to Cadence shareholders of record as of the merger date, in addition

to the conversion of certain Cadence equity awards into Huntington equity awards and the issuance of the

depositary shares representing the newly created Series L Preferred Stock, resulting in total consideration from the

transaction of $8.3 billion based on the closing price of the Company’s common stock on January 30, 2026.

The acquisition of Cadence constituted a business combination in accordance with ASC Topic 805, Business

Combinations. Accordingly, the assets acquired and liabilities assumed were recorded at fair value as of the

acquisition date. The determination of fair value requires management to make estimates related to discount rates,

expected future cash flows, market conditions and other future events that are highly subjective in nature and

subject to change. Fair value estimates related to the assets and liabilities from Cadence are subject to adjustment

for up to one year after the closing date of the acquisition as additional information becomes available. The

purchase consideration allocation is considered preliminary as certain estimates related to the assets acquired and

liabilities assumed are subject to continuing refinement. Valuations subject to refinement include, but are not

limited to, loans, certain other assets, and the core deposit intangible asset.

2026 2Q Form 10-Q 51

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Preliminary Allocation of Purchase Consideration

The following table provides the preliminary allocation of the purchase consideration to the assets acquired and

liabilities assumed from Cadence as of February 1, 2026.

(dollar amounts in millions)		Fair Value
Purchase consideration
Fair value of common stock issued		$8,068
Fair value of equity-based awards		117
Fair value of preferred stock issued		150
Total consideration		8,335
Assets acquired
Cash and due from banks		490
Interest-earning deposits with banks		1,368
Available-for-sale securities		8,964
Other securities		259
Loans held for sale		151
Loans and leases		36,912
Allowance for loan and lease losses		(567)
Net loans and leases		36,345
Bank-owned life insurance		768
Premises and equipment		738
Servicing rights and other intangible assets		1,005
Other assets		1,258
Total assets acquired		51,346
Liabilities assumed
Deposits		43,530
Short-term borrowings		1,553
Long-term debt		945
Other liabilities		480
Total liabilities assumed		46,508
Preliminary fair value of net assets acquired		4,838
Preliminary goodwill		$3,497

In connection with the Cadence acquisition, Huntington recorded preliminary goodwill of $3.5 billion, none of

which is anticipated to be deductible for tax purposes. The preliminary goodwill is primarily attributable to expected

synergies, operational efficiencies, and other factors to arise from the transaction. Information regarding the

allocation of goodwill to the Company’s reportable segments as a result of the acquisition, as well as the carrying

amounts of core deposit and other intangible assets, are provided in Note 8 - “Goodwill and Other Intangible Assets”

of the Notes to Unaudited Consolidated Financial Statements.

The following is a description of the methods used to determine the fair values of significant assets acquired and

liabilities assumed.

Cash and due from banks and interest-earning deposits with banks: The carrying amount of these assets was a

reasonable estimate of fair value based on the short-term nature of these assets.

Securities: Fair values for securities were based on quoted market prices or recent transactions, where available. If

quoted market prices were not available, fair value estimates were based on observable inputs including quoted

market prices for similar instruments, quoted market prices that were not in an active market or other inputs that

were observable in the market. In the absence of observable inputs, fair value was estimated based on pricing

models and/or discounted cash flow methodologies.

52 Huntington Bancshares Incorporated

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Loans and leases: Fair values for loans and leases were based on a discounted cash flow methodology that

considered factors including the type of loan and lease and related collateral, classification status, fixed or variable

interest rate, term, amortization status and current discount rates. Loans and leases were grouped together

according to similar characteristics when applying various valuation techniques. The discount rates used for loans

and leases were based on current market rates for new originations of comparable loans and leases and include

adjustments for liquidity. The discount rate does not include a factor for credit losses as that has been included as a

reduction to the estimated cash flows. Purchased loans and leases that reflect a more-than-insignificant

deterioration of credit from origination are considered PCD. For PCD loans and leases, the initial estimate of

expected credit losses is recognized in the ALLL on the date of acquisition using the same methodology as other

loans and leases held-for-investment. In addition, Huntington adopted ASU 2025-08 in the fourth quarter of 2025.

Accordingly, the initial estimate of expected credit losses recognized in the ALLL included both PCD and non-PCD

loans which were deemed purchased seasoned loans.

The following table includes the fair value and unpaid principal balance of the acquired loans and leases.

(dollar amounts in millions)	Unpaid principal balance		Premium/ (discount)		Loans and leases		Allowance for loan losses		Net loans and leases
Non-PCD loans	$31,879		$(390)		$31,489		$(245)		$31,244
PCD loans	5,614		(191)		5,423		(322)		5,101
Total	$37,493		$(581)		$36,912		$(567)		$36,345

CDI: Huntington recorded a CDI of $855 million as of the acquisition date, which represents the low cost of funding

that acquired core deposits provide relative to the Company’s marginal cost of funds. The fair value was estimated

based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition

rates, net maintenance cost of the deposit base, alternative cost of funds, and the interest costs associated with

customer deposits. The CDI is being amortized over 10 years based upon the period over which estimated economic

benefits are expected to be received.

Deposits: The fair values used for the demand and savings deposits by definition equal the amount payable on

demand at the acquisition date. The fair values for time deposits were estimated using a discounted cash flow

calculation that applies interest rates currently being offered to the contractual interest rates on such time deposits.

2026 2Q Form 10-Q 53

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Pro Forma Financial Information (Unaudited)

Huntington's operating results for the three and six months ended June 30, 2026 include the operating results of

the acquired assets and assumed liabilities of Veritex subsequent to the acquisition on October 20, 2025 and

Cadence subsequent to the acquisition on February 1, 2026. Due to the streamlining and integration of certain

operating activities into those of Huntington post-acquisition, historical reporting for the former Veritex and

Cadence operations is impracticable, and thus disclosures of the revenue from the assets acquired and income

before income taxes are impracticable for the periods subsequent to the acquisitions.

The following table presents unaudited pro forma combined information as if the acquisitions of Veritex and

Cadence had occurred on January 1, 2025 under the “Unaudited Pro Forma Combined Results” columns. The pro

forma adjustments give effect to any change in interest income due to the accretion of the net discount associated

with the fair value adjustments to acquired loans and leases, any change in interest expense due to estimated

premium amortization/discount accretion associated with the fair value adjustments to acquired interest-bearing

deposits and long-term debt, and the amortization of the CDI that would have resulted had the deposits been

acquired as of January 1, 2025. Pro forma combined results for the three and six months ended June 30, 2026

include $152 million and $473 million, respectively, of acquisition-related expenses attributable to the acquisitions,

which primarily included, but were not limited to, severance costs, professional services, and data processing fees.

Pro forma combined results also include adjustments for the elimination of Veritex’s and Cadence’s intangible

amortization expense and Cadence’s interest income and interest expense related to premium amortization/

discount accretion from prior acquisitions, and the related income tax effects. The pro forma information does not

necessarily reflect the results of operations that would have occurred had Huntington acquired Veritex and Cadence

on January 1, 2025. Furthermore, cost savings and other business synergies related to the acquisition are not

reflected in the pro forma combined amounts.

		Unaudited Pro Forma Combined Results
		Three months ended				Six months ended
(dollar amounts in millions)		June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Net interest income		$2,044		$1,969		$4,077		$3,881
Noninterest income		785		584		1,524		1,179
Net income attributable to Huntington		726		677		1,200		1,341

54 Huntington Bancshares Incorporated

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4**.** INVESTMENT AND OTHER SECURITIES

Debt securities are classified as held-to-maturity when Huntington has the intent and ability to hold the

securities to their maturity. 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, 2026
Available-for-sale securities:
U.S. Treasury	$8,799		$3		$(25)		$8,777
Federal agencies:
Residential MBS	13,377		3		(1,425)		11,955
Residential CMO	6,660		13		(340)		6,333
Commercial MBS	3,232		1		(666)		2,567
Other agencies	477		—		(3)		474
Total U.S. Treasury, federal agency, and other agency securities	32,545		20		(2,459)		30,106
Municipal securities	4,752		5		(108)		4,649
Corporate debt	186		—		(17)		169
Asset-backed securities	186		—		(7)		179
Private-label CMO	100		—		(7)		93
Other securities/sovereign debt	10		—		—		10
Total available-for-sale securities	$37,779		$25		$(2,598)		$35,206
Held-to-maturity securities:
U.S. Treasury	$2,117		$2		$(8)		$2,111
Federal agencies:
Residential MBS	7,350		—		(964)		6,386
Residential CMO	3,665		—		(548)		3,117
Commercial MBS	1,213		—		(187)		1,026
Other agencies	38		—		(2)		36
Total U.S. Treasury, federal agency, and other agency securities	14,383		2		(1,709)		12,676
Municipal securities	1		—		—		1
Total held-to-maturity securities	$14,384		$2		$(1,709)		$12,677
Other securities, at cost:
Non-marketable equity securities:
FRB stock	$882		$—		$—		$882
FHLB stock	367		—		—		367
Other non-marketable equity securities	61		—		—		61
Other securities, at fair value:
Mutual funds	30		—		—		30
Equity securities	33		10		—		43
Total other securities	$1,373		$10		$—		$1,383

(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, 2026, accrued interest receivable on AFS securities and HTM securities totaled $140 million and $42 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 $222 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.

2026 2Q Form 10-Q 55

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			Unrealized
(dollar amounts in millions)	Amortized Cost (1)(2)		Gross Gains		Gross Losses		Fair Value
At December 31, 2025
Available-for-sale securities:
U.S. Treasury	$4,590		$45		$—		$4,635
Federal agencies:
Residential MBS	11,031		3		(1,365)		9,669
Residential CMO	5,496		9		(308)		5,197
Commercial MBS	2,488		—		(657)		1,831
Other agencies	153		—		(3)		150
Total U.S. Treasury, federal agency, and other agency securities	23,758		57		(2,333)		21,482
Municipal securities	4,215		9		(81)		4,143
Corporate debt	193		—		(15)		178
Asset-backed securities	229		—		(8)		221
Private-label CMO	105		—		(7)		98
Other securities/sovereign debt	10		—		—		10
Total available-for-sale securities	$28,510		$66		$(2,444)		$26,132
Held-to-maturity securities:
U.S. Treasury	$2,349		$19		$—		$2,368
Federal agencies:
Residential MBS	7,718		1		(941)		6,778
Residential CMO	3,865		5		(520)		3,350
Commercial MBS	1,278		—		(184)		1,094
Other agencies	47		—		(2)		45
Total U.S. Treasury, federal agency, and other agency securities	15,257		25		(1,647)		13,635
Municipal securities	1		—		—		1
Total held-to-maturity securities	$15,258		$25		$(1,647)		$13,636
Other securities, at cost:
Non-marketable equity securities:
FRB stock	$616		$—		$—		$616
FHLB stock	288		—		—		288
Other non-marketable equity securities	48		—		—		48
Other securities, at fair value:
Mutual funds	30		—		—		30
Equity securities	12		—		—		12
Total other securities	$994		$—		$—		$994

(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, 2025, accrued interest receivable on AFS securities and HTM securities totaled $106 million and $44 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 $177 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.

56 Huntington Bancshares Incorporated

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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, 2026				At December 31, 2025
(dollar amounts in millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Available-for-sale securities:
Under 1 year	$5,114		$5,107		$1,369		$1,365
After 1 year through 5 years	7,140		7,069		5,581		5,595
After 5 years through 10 years	2,222		2,088		1,899		1,784
After 10 years	23,303		20,942		19,661		17,388
Total available-for-sale securities	$37,779		$35,206		$28,510		$26,132
Held-to-maturity securities:
Under 1 year	$551		$552		$603		$604
After 1 year through 5 years	1,587		1,580		1,773		1,791
After 5 years through 10 years	129		119		144		134
After 10 years	12,117		10,426		12,738		11,107
Total held-to-maturity securities	$14,384		$12,677		$15,258		$13,636

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 Months				Over 12 Months				Total
(dollar amounts in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
At June 30, 2026
Available-for-sale securities:
U.S. Treasury	$5,724		$(25)		$—		$—		$5,724		$(25)
Federal agencies:
Residential MBS	2,945		(34)		8,645		(1,391)		11,590		(1,425)
Residential CMO	1,754		(9)		2,335		(331)		4,089		(340)
Commercial MBS	637		(5)		1,767		(661)		2,404		(666)
Other agencies	370		(1)		73		(2)		443		(3)
Total U.S. Treasury, federal agency, and other agency securities	11,430		(74)		12,820		(2,385)		24,250		(2,459)
Municipal securities	1,433		(22)		2,122		(86)		3,555		(108)
Corporate debt	—		—		169		(17)		169		(17)
Asset-backed securities	—		—		176		(7)		176		(7)
Private-label CMO	3		—		70		(7)		73		(7)
Total temporarily impaired available-for-sale securities	$12,866		$(96)		$15,357		$(2,502)		$28,223		$(2,598)
Held-to-maturity securities:
U.S. Treasury	$1,230		$(8)		$—		$—		$1,230		$(8)
Federal agencies:
Residential MBS	73		(1)		6,282		(963)		6,355		(964)
Residential CMO	233		(1)		2,765		(547)		2,998		(548)
Commercial MBS	—		—		1,027		(187)		1,027		(187)
Other agencies	—		—		36		(2)		36		(2)
Total U.S. Treasury, federal agency, and other agency securities	1,536		(10)		10,110		(1,699)		11,646		(1,709)
Municipal securities	—		—		1		—		1		—
Total temporarily impaired held-to-maturity securities	$1,536		$(10)		$10,111		$(1,699)		$11,647		$(1,709)

2026 2Q Form 10-Q 57

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	Less than 12 Months				Over 12 Months				Total
(dollar amounts in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
At December 31, 2025
Available-for-sale securities:
U.S. Treasury	$—		$—		$439		$—		$439		$—
Federal agencies:
Residential MBS	55		—		9,185		(1,365)		9,240		(1,365)
Residential CMO	51		—		2,665		(308)		2,716		(308)
Commercial MBS	23		—		1,782		(657)		1,805		(657)
Other agencies	15		—		74		(3)		89		(3)
Total U.S. Treasury, federal agency, and other agency securities	144		—		14,145		(2,333)		14,289		(2,333)
Municipal securities	1,043		(14)		1,892		(67)		2,935		(81)
Corporate debt	2		—		176		(15)		178		(15)
Asset-backed securities	9		—		207		(8)		216		(8)
Private-label CMO	—		—		79		(7)		79		(7)
Total temporarily impaired available-for-sale securities	$1,198		$(14)		$16,499		$(2,430)		$17,697		$(2,444)
Held-to-maturity securities:
U.S. Treasury	$—		$—		$289		$—		$289		$—
Federal agencies:
Residential MBS	—		—		6,694		(941)		6,694		(941)
Residential CMO	48		—		2,956		(520)		3,004		(520)
Commercial MBS	—		—		1,094		(184)		1,094		(184)
Other agencies	—		—		45		(2)		45		(2)
Total U.S. Treasury, federal agency, and other agency securities	48		—		11,078		(1,647)		11,126		(1,647)
Municipal securities	—		—		1		—		1		—
Total temporarily impaired held-to-maturity securities	$48		$—		$11,079		$(1,647)		$11,127		$(1,647)

At June 30, 2026, substantially 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, 2026. Based on an evaluation of available information as of June 30, 2026,

including security type, counterparty credit quality, past events, current conditions, and reasonable and supportable

forecasts that are relevant to collectability of cash flows, Huntington does not expect to incur credit losses on any

security held in its AFS and HTM debt securities portfolio. There was no allowance related to securities as of June 30,

2026 or December 31, 2025.

The carrying value of investment securities pledged to secure public and trust deposits, trading account

liabilities, U.S. Treasury demand notes, and security repurchase agreements, and to support borrowing capacity,

totaled $37.6 billion at June 30, 2026 and $29.7 billion at December 31, 2025.

58 Huntington Bancshares Incorporated

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5**.** LOANS AND LEASES

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

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Commercial loan and lease portfolio:
Commercial and industrial	$91,378		$69,442
Commercial real estate	23,457		15,209
Lease financing	5,714		5,727
Total commercial loan and lease portfolio	120,549		90,378
Consumer loan portfolio:
Residential mortgage	33,221		24,777
Automobile	15,460		16,168
Home equity	11,884		10,395
RV and marine	5,706		5,682
Other consumer	2,602		2,242
Total consumer loan portfolio	68,873		59,264
Total loans and leases (1)(2)	189,422		149,642
Allowance for loan and lease losses	(3,249)		(2,537)
Net loans and leases	$186,173		$147,105

(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

$1.5 billion and $815 million at June 30, 2026 and December 31, 2025, respectively.

(2)The total amount of accrued interest recorded for loans and leases at June 30, 2026 was $528 million and $298 million of commercial and consumer loan

and lease portfolios, respectively, and at December 31, 2025 was $358 million and $253 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.

Lease Financing

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

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Lease payments receivable	$5,319		$5,379
Estimated residual value of leased assets	1,034		1,011
Gross investment in lease financing receivables	6,353		6,390
Deferred origination costs	60		58
Deferred fees, unearned income, and other	(699)		(721)
Total lease financing receivables	$5,714		$5,727

The carrying value of residual values guaranteed was $418 million and $419 million as of June 30, 2026 and

December 31, 2025, respectively. The future lease rental payments due from customers on direct financing leases at

June 30, 2026 totaled $5.3 billion and were due as follows: $887 million in 2026, $1.0 billion in 2027, $976 million in

2028, $888 million in 2029, $676 million in 2030, and $862 million thereafter. Interest income recognized for these

types of leases was $101 million and $92 million for the three-month periods ended June 30, 2026 and 2025,

respectively. For the six-month periods ended June 30, 2026 and 2025, interest income recognized for these types of

leases was $200 million and $181 million, respectively.

2026 2Q Form 10-Q 59

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Nonaccrual and Past Due Loans and Leases

The following table presents NALs by loan class.

	At June 30, 2026				At December 31, 2025
(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	$196		$986		$76		$562
Commercial real estate	27		243		81		133
Lease financing	2		8		4		8
Residential mortgage	4		223		5		107
Automobile	—		7		—		6
Home equity	—		120		—		113
RV and marine	—		2		—		2
Total nonaccrual loans and leases	$229		$1,589		$166		$931

The following table presents an aging analysis of loans and leases, by loan 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, 2026
Commercial and industrial	$257		$99		$623		$979		$90,399		$—		$91,378		$2	(2)
Commercial real estate	123		22		167		312		23,145		—		23,457		—
Lease financing	31		9		8		48		5,666		—		5,714		6
Residential mortgage	454		156		559		1,169		31,888		164		33,221		391	(3)
Automobile	124		34		16		174		15,286		—		15,460		12
Home equity	92		42		106		240		11,644		—		11,884		24
RV and marine	20		10		4		34		5,672		—		5,706		3
Other consumer	22		9		5		36		2,566		—		2,602		5
Total loans and leases	$1,123		$381		$1,488		$2,992		$186,266		$164		$189,422		$443
At December 31, 2025
Commercial and industrial	$144		$78		$332		$554		$68,888		$—		$69,442		$1	(2)
Commercial real estate	31		2		101		134		15,075		—		15,209		—
Lease financing	30		32		10		72		5,655		—		5,727		9
Residential mortgage	239		100		305		644		23,966		167		24,777		232	(3)
Automobile	132		33		18		183		15,985		—		16,168		14
Home equity	60		30		89		179		10,216		—		10,395		16
RV and marine	25		10		5		40		5,642		—		5,682		4
Other consumer	18		6		7		31		2,211		—		2,242		6
Total loans and leases	$679		$291		$867		$1,837		$147,638		$167		$149,642		$282

(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.

Credit Quality Indicators

Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. See Note 5 - “Loans

and Leases” to the Consolidated Financial Statements appearing in Huntington’s 2025 Annual Report on Form 10-K

for a description of the credit quality indicators Huntington utilizes for monitoring credit quality and for determining

an appropriate ACL level.

60 Huntington Bancshares Incorporated

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The following tables present the amortized cost basis of loans and leases by vintage and internally defined credit

quality indicator.

	At June 30, 2026
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2026		2025		2024		2023		2022		Prior				Total
Commercial and industrial
Credit Quality Indicator:
Pass	$14,429		$17,461		$9,093		$5,246		$4,815		$5,585		$30,359		$12		$87,000
OLEM	120		207		142		86		69		66		303		—		993
Substandard	395		481		606		434		332		381		756		—		3,385
Total Commercial and industrial	$14,944		$18,149		$9,841		$5,766		$5,216		$6,032		$31,418		$12		$91,378
Commercial real estate
Credit Quality Indicator:
Pass	$2,516		$5,939		$2,859		$1,296		$2,834		$4,317		$1,242		$—		$21,003
OLEM	189		177		60		39		279		178		1		—		923
Substandard	290		268		113		141		358		356		5		—		1,531
Total Commercial real estate	$2,995		$6,384		$3,032		$1,476		$3,471		$4,851		$1,248		$—		$23,457
Lease financing
Credit Quality Indicator:
Pass	$805		$1,900		$1,398		$940		$266		$369		$—		$—		$5,678
OLEM	—		—		2		—		—		—		—		—		2
Substandard	—		2		6		7		5		14		—		—		34
Total Lease financing	$805		$1,902		$1,406		$947		$271		$383		$—		$—		$5,714
Residential mortgage
Credit Quality Indicator:
750+	$1,499		$2,818		$2,350		$2,518		$4,291		$11,405		$21		$—		$24,902
650-749	580		1,007		759		669		1,147		2,609		—		—		6,771
<650	31		110		124		110		178		831		—		—		1,384
Total Residential mortgage	$2,110		$3,935		$3,233		$3,297		$5,616		$14,845		$21		$—		$33,057
Automobile
Credit Quality Indicator:
750+	$1,689		$3,175		$2,156		$781		$522		$283		$—		$—		$8,606
650-749	1,020		2,355		1,185		395		251		137		—		—		5,343
<650	134		581		379		180		137		100		—		—		1,511
Total Automobile	$2,843		$6,111		$3,720		$1,356		$910		$520		$—		$—		$15,460
Home equity
Credit Quality Indicator:
750+	$78		$195		$159		$236		$321		$867		$5,838		$234		$7,928
650-749	24		49		45		61		52		138		2,655		209		3,233
<650	—		2		8		14		12		44		498		145		723
Total Home equity	$102		$246		$212		$311		$385		$1,049		$8,991		$588		$11,884
RV and marine
Credit Quality Indicator:
750+	$547		$609		$632		$620		$603		$1,320		$—		$—		$4,331
650-749	120		166		173		191		152		378		—		—		1,180
<650	1		8		22		33		29		102		—		—		195
Total RV and marine	$668		$783		$827		$844		$784		$1,800		$—		$—		$5,706
Other consumer
Credit Quality Indicator:
750+	$249		$303		$149		$46		$22		$62		$676		$2		$1,509
650-749	103		159		74		25		8		15		539		10		933
<650	6		23		17		8		5		6		78		17		160
Total Other consumer	$358		$485		$240		$79		$35		$83		$1,293		$29		$2,602

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	At December 31, 2025
	Term Loans Amortized Cost Basis by Origination Year												Revolver Total at Amortized Cost Basis		Revolver Total Converted to Term Loans
(dollar amounts in millions)	2025		2024		2023		2022		2021		Prior				Total
Commercial and industrial
Credit Quality Indicator:
Pass	$19,465		$8,750		$4,561		$4,189		$1,601		$2,181		$25,228		$7		$65,982
OLEM	222		226		92		106		14		17		272		—		949
Substandard	513		406		326		285		137		127		717		—		2,511
Total Commercial and industrial	$20,200		$9,382		$4,979		$4,580		$1,752		$2,325		$26,217		$7		$69,442
Commercial real estate
Credit Quality Indicator:
Pass	$3,257		$1,813		$761		$2,491		$1,358		$2,429		$876		$—		$12,985
OLEM	58		47		89		398		275		108		—		—		975
Substandard	178		87		125		366		197		289		7		—		1,249
Total Commercial real estate	$3,493		$1,947		$975		$3,255		$1,830		$2,826		$883		$—		$15,209
Lease financing
Credit Quality Indicator:
Pass	$1,854		$1,506		$1,091		$547		$356		$303		$—		$—		$5,657
OLEM	—		7		10		2		3		9		—		—		31
Substandard	3		6		11		13		2		4		—		—		39
Total Lease financing	$1,857		$1,519		$1,112		$562		$361		$316		$—		$—		$5,727
Residential mortgage
Credit Quality Indicator:
750+	$1,515		$1,785		$2,028		$3,755		$5,331		$5,006		$—		$—		$19,420
650-749	638		441		397		638		727		1,076		—		—		3,917
<650	88		113		100		165		155		652		—		—		1,273
Total Residential mortgage	$2,241		$2,339		$2,525		$4,558		$6,213		$6,734		$—		$—		$24,610
Automobile
Credit Quality Indicator:
750+	$4,019		$2,692		$1,036		$754		$424		$107		$—		$—		$9,032
650-749	2,879		1,576		544		369		199		53		—		—		5,620
<650	523		428		217		184		123		41		—		—		1,516
Total Automobile	$7,421		$4,696		$1,797		$1,307		$746		$201		$—		$—		$16,168
Home equity
Credit Quality Indicator:
750+	$185		$164		$249		$321		$376		$542		$4,909		$228		$6,974
650-749	56		51		72		62		43		102		2,100		217		2,703
<650	3		8		14		29		7		41		474		142		718
Total Home equity	$244		$223		$335		$412		$426		$685		$7,483		$587		$10,395
RV and marine
Credit Quality Indicator:
750+	$709		$716		$709		$676		$586		$914		$—		$—		$4,310
650-749	172		204		209		164		164		264		—		—		1,177
<650	5		19		32		29		37		73		—		—		195
Total RV and marine	$886		$939		$950		$869		$787		$1,251		$—		$—		$5,682
Other consumer
Credit Quality Indicator:
750+	$388		$176		$52		$25		$11		$45		$619		$9		$1,325
650-749	172		87		29		9		3		10		485		4		799
<650	14		15		8		4		1		2		66		8		118
Total Other consumer	$574		$278		$89		$38		$15		$57		$1,170		$21		$2,242

62 Huntington Bancshares Incorporated

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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)		2026		2025		2024		2023		2022		Prior				Total
Three months ended June 30, 2026
Commercial and industrial		$3		$6		$7		$10		$9		$36		$37		$1		$109
Commercial real estate		—		—		—		1		3		1		1		—		6
Lease financing		—		—		—		—		1		—		—		—		1
Residential mortgage		—		1		1		—		1		—		—		—		3
Automobile		—		10		6		3		2		1		—		—		22
Home equity		—		—		—		—		—		—		1		2		3
RV and marine		—		1		1		2		2		4		—		—		10
Other consumer		5		8		4		2		2		4		—		12		37
Total		$8		$26		$19		$18		$20		$46		$39		$15		$191
Six months ended June 30, 2026
Commercial and industrial		$4		$18		$13		$17		$11		$85		$52		$1		$201
Commercial real estate		—		—		—		1		4		5		1		—		11
Lease financing		—		—		—		—		1		1		—		—		2
Residential mortgage		—		1		1		—		1		1		—		—		4
Automobile		—		19		12		7		5		4		—		—		47
Home equity		—		—		—		—		—		—		1		3		4
RV and marine		—		1		2		4		3		9		—		—		19
Other consumer		6		17		10		5		3		8		2		25		76
Total		$10		$56		$38		$34		$28		$113		$56		$29		$364
		Term Loans Gross Charge-offs by Origination Year												Revolver Gross Charge-offs		Revolver Converted to Term Loans Gross Charge-offs
(dollar amounts in millions)		2025		2024		2023		2022		2021		Prior				Total
Three months ended June 30, 2025
Commercial and industrial		$2		$5		$16		$10		$2		$4		$9		$1		$49
Commercial real estate		2		—		—		—		—		—		1		—		3
Lease financing		—		—		—		1		1		2		—		—		4
Residential mortgage		—		—		—		—		—		1		—		—		1
Automobile		—		5		4		3		3		1		—		—		16
Home equity		—		—		—		—		—		—		—		1		1
RV and marine		—		1		2		2		1		3		—		—		9
Other consumer		3		5		4		2		1		3		—		10		28
Total		$7		$16		$26		$18		$8		$14		$10		$12		$111
Six months ended June 30, 2025
Commercial and industrial		$2		$11		$24		$43		$5		$13		$18		$2		$118
Commercial real estate		2		—		—		—		1		—		1		—		4
Lease financing		—		1		1		3		1		2		—		—		8
Residential mortgage		—		—		—		—		—		2		—		—		2
Automobile		—		10		9		9		6		2		—		—		36
Home equity		—		—		—		—		—		—		1		2		3
RV and marine		—		1		4		3		3		7		—		—		18
Other consumer		4		11		9		4		2		6		—		19		55
Total		$8		$34		$47		$62		$18		$32		$20		$23		$244

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Modifications to Debtors Experiencing Financial Difficulty

See Note 5 - “Loans and Leases” to the Consolidated Financial Statements appearing in Huntington’s 2025

Annual Report on Form 10-K for a description of reported modification types and the impact on credit quality of

borrowers experiencing financial difficulty.

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, 2026
Commercial and industrial	$42		$152		$—		$35		$229		0.25%
Commercial real estate	6		259		—		2		267		1.14
Residential mortgage	—		19		4		3		26		0.08
Automobile	—		4		—		—		4		0.03
Home equity	—		2		—		2		4		0.03
Other consumer	1		—		—		—		1		0.04
Total loans to borrowers experiencing financial difficulty to which modifications were made	$49		$436		$4		$42		$531		0.28%
Three months ended June 30, 2025
Commercial and industrial	$44		$158		$—		$1		$203		0.33%
Commercial real estate	—		69		—		—		69		0.64
Residential mortgage	—		12		3		2		17		0.07
Automobile	—		1		—		—		1		0.01
Home equity	—		2		—		2		4		0.04
Total loans to borrowers experiencing financial difficulty to which modifications were made	$44		$242		$3		$5		$294		0.22%
Six months ended June 30, 2026
Commercial and industrial	$67		$212		$—		$90		$369		0.40%
Commercial real estate	6		299		—		2		307		1.31
Residential mortgage	—		23		5		3		31		0.09
Automobile	—		7		—		1		8		0.05
Home equity	—		4		—		3		7		0.06
Other consumer	1		—		—		—		1		0.04
Total loans to borrowers experiencing financial difficulty in which modifications were made	$74		$545		$5		$99		$723		0.38%
Six months ended June 30, 2025
Commercial and industrial	$91		$289		$—		$5		$385		0.63%
Commercial real estate	—		140		—		—		140		1.31
Residential mortgage	—		24		11		3		38		0.15
Automobile	—		3		—		—		3		0.02
Home equity	—		4		—		4		8		0.08
Other consumer	1		—		—		—		1		0.05
Total loans to borrowers experiencing financial difficulty in which modifications were made	$92		$460		$11		$12		$575		0.43%

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

64 Huntington Bancshares Incorporated

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The following table summarizes the weighted-average financial effects of loan modifications 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, 2026
Commercial and industrial	8.06%		7.00%		0.8
Commercial real estate					0.9
Residential mortgage					7.1
Three months ended June 30, 2025
Commercial and industrial	8.80%		6.38%		0.6
Commercial real estate					0.8
Residential mortgage					7.1
Six months ended June 30, 2026
Commercial and industrial	9.31%		7.14%		0.9
Commercial real estate					0.9
Residential mortgage					7.2
Six months ended June 30, 2025
Commercial and industrial	8.32%		7.00%		0.9
Commercial real estate					1.0
Residential mortgage					6.5

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

2026 2Q Form 10-Q 65

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The performance of loans made to borrowers experiencing financial difficulty to which modifications were made

is closely monitored to understand the effectiveness of modification efforts. Loans are considered to be in payment

default at 90 or more days past due. 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, 2026
Commercial and industrial	$8		$39		$15		$62		$394		$456
Commercial real estate	7		2		34		43		319		362
Residential mortgage	7		5		10		22		25		47
Automobile	2		—		—		2		11		13
Home equity	1		1		3		5		10		15
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		1		1
Total loans to borrowers experiencing financial difficulty to which modifications were made in the twelve months ended June 30, 2026	$25		$47		$62		$134		$761		$895
At June 30, 2025
Commercial and industrial	$2		$1		$5		$8		$534		$542
Commercial real estate	—		—		23		23		211		234
Residential mortgage	11		6		17		34		35		69
Automobile	1		—		—		1		7		8
Home equity	1		1		1		3		12		15
RV and marine	—		—		—		—		1		1
Other consumer	—		—		—		—		2		2
Total loans to borrowers experiencing financial difficulty to which modifications were made in the twelve months ended June 30, 2025	$15		$8		$46		$69		$802		$871

Pledged Loans

The Bank has access to secured borrowings from the Federal Reserve’s discount window and advances from the

FHLB. As of June 30, 2026 and December 31, 2025, loans and leases totaling $143.9 billion and $114.2 billion,

respectively, were pledged to the FRB and FHLB for access to these contingent funding sources.

66 Huntington Bancshares Incorporated

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6**.** ALLOWANCE FOR CREDIT LOSSES

The following table presents ACL activity by portfolio segment.

(dollar amounts in millions)	Commercial		Consumer		Total
Three months ended June 30, 2026
ALLL balance, beginning of period	$2,305		$938		$3,243
Loan and lease charge-offs	(116)		(75)		(191)
Recoveries of loans and leases previously charged-off	50		22		72
Provision for loan and lease losses	100		25		125
ALLL balance, end of period	$2,339		$910		$3,249
AULC balance, beginning of period	$98		$27		$125
Provision (benefit) for unfunded lending commitments	4		3		7
AULC balance, end of period	$102		$30		$132
ACL balance, end of period	$2,441		$940		$3,381
Three months ended June 30, 2025
ALLL balance, beginning of period	$1,520		$743		$2,263
Loan and lease charge-offs	(56)		(55)		(111)
Recoveries of loans and leases previously charged-off	25		20		45
Provision for loan and lease losses	59		75		134
ALLL balance, end of period	$1,548		$783		$2,331
AULC balance, beginning of period	$158		$57		$215
Provision (benefit) for unfunded lending commitments	(34)		3		(31)
AULC balance, end of period	$124		$60		$184
ACL balance, end of period	$1,672		$843		$2,515
Six months ended June 30, 2026
ALLL balance, beginning of period	$1,731		$806		$2,537
Loan and lease charge-offs (1)	(214)		(150)		(364)
Recoveries of loans and leases previously charged-off	92		42		134
Provision for loan and lease losses	292		83		375
Allowance on PCD loans and leases at acquisition	268		54		322
Allowance on purchased seasoned loans and leases at acquisition	170		75		245
ALLL balance, end of period	$2,339		$910		$3,249
AULC balance, beginning of period	$145		$61		$206
Provision (benefit) for unfunded lending commitments	(46)		(39)		(85)
Allowance for unfunded lending commitments at acquisition	3		8		11
AULC balance, end of period	$102		$30		$132
ACL balance, end of period	$2,441		$940		$3,381
Six months ended June 30, 2025
ALLL balance, beginning of period	$1,484		$760		$2,244
Loan and lease charge-offs	(130)		(114)		(244)
Recoveries of loans and leases previously charged-off	55		37		92
Provision for loan and lease losses	139		100		239
ALLL balance, end of period	$1,548		$783		$2,331
AULC balance, beginning of period	$144		$58		$202
Provision (benefit) for unfunded lending commitments	(20)		2		(18)
AULC balance, end of period	$124		$60		$184
ACL balance, end of period	$1,672		$843		$2,515

(1)Includes charge-offs of $23 million on certain commercial loans previously charged off by Cadence, which were written up to the unpaid principal balance

at acquisition and then immediately charged off by Huntington as required by purchase accounting.

2026 2Q Form 10-Q 67

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At June 30, 2026, the ACL was $3.4 billion, a $638 million increase compared to December 31, 2025. The

increase in the ACL was driven by the ACL recorded for loans acquired in the Cadence transaction in addition to

organic loan and lease growth. The ACL coverage ratio at June 30, 2026 is reflective of the current macroeconomic

forecast and changes in various risk profiles intended to capture uncertainty not addressed within the quantitative

reserve.

The commercial ACL was $2.4 billion at June 30, 2026, a $565 million increase compared to December 31, 2025,

with the increase driven by $438 million of ALLL recorded for commercial loans acquired in the Cadence transaction,

as well as organic growth in commercial loans and leases during the first six months of 2026. The consumer ACL was

$940 million at June 30, 2026, an increase of $73 million from December 31, 2025, with the increase due primarily to

$129 million of ALLL recorded for consumer loans acquired in the Cadence transaction.

For purposes of determining the ACL at June 30, 2026, we utilized a baseline economic scenario that assumes

the labor market has softened, with the unemployment rate peaking at 4.6% in the fourth quarter of 2026 and

expected to remain elevated at 4.6% in the first half of 2027. The Federal Reserve projected to continue the current

cycle of rate cuts, but cuts are expected later in 2026 and 2027, with the federal funds rate projected to return to 3%

by 2028. Inflation is forecasted to remain above the Federal Reserve’s target level of 2%, with inflation still at or near

3% by the end of 2026. Forecasted GDP growth moderated in the first quarter, with growth projected at

approximately 2.2% in 2026 before easing below 2% in 2027.

The economic scenarios used included elevated levels of economic uncertainty including the impact of specific

challenges in the commercial real estate industry, recent inflation levels, the U.S. labor market, the expected path of

interest rate changes by the Federal Reserve, and the impact of significant conflicts on-going around the world.

Given the uncertainty associated with key economic scenario assumptions, the June 30, 2026 ACL included a general

reserve that consists of various risk profile components to address uncertainty not measured within the quantitative

transaction reserve.

7**.** MORTGAGE LOAN SALES AND SERVICING RIGHTS

Residential Mortgage Portfolio

The following table summarizes activity relating to residential mortgage loans sold with servicing retained.

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Residential mortgage loans sold with servicing retained	$2,045		$1,168		$3,354		$2,177
Pretax gains resulting from above loan sales (1)	49		23		77		42
Total servicing, late, and other ancillary fees (1)	34		26		67		53

(1)Included in mortgage banking income.

The following table summarizes the changes in MSRs recorded using the fair value method.

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Fair value, beginning of period	$735		$564		$593		$573
Servicing assets obtained in acquisition	—	` `	—		140		—
New servicing assets created	40		20		68		40
Change in fair value during the period due to:
Time decay (1)	(9)		(7)		(16)		(14)
Payoffs (2)	(15)		(10)		(29)		(17)
Changes in valuation inputs or assumptions (3)	1		—		(4)		(15)
Fair value, end of period	$752		$567		$752		$567
Related loans serviced for third parties, unpaid principal balance, end of period	$43,419		$33,925		$43,419		$33,925

(1)Represents decrease in value due to passage of time, including the impact from both regularly scheduled principal payments and partial loan paydowns.

(2)Represents decrease in value associated with loans that paid off during the period.

(3)Represents change in value resulting primarily from market-driven changes in interest rates.

68 Huntington Bancshares Incorporated

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The following table summarizes key assumptions and the sensitivity of the MSR value to changes in these

assumptions.

	At June 30, 2026							At December 31, 2025
				Decline in fair value due to							Decline in fair value due to
(dollar amounts in millions)	Actual			10% adverse change		20% adverse change		Actual			10% adverse change		20% adverse change
Constant prepayment rate (annualized)	8.16%			$(21)		$(40)		8.09%			$(17)		$(33)
Spread over forward interest rate swap rates	544	bps		(17)		(34)		538	bps		(14)		(27)

8**.** GOODWILL AND OTHER INTANGIBLE ASSETS

In conjunction with the Cadence acquisition, Huntington recorded $3.5 billion of goodwill and $855 million of

core deposit intangible assets, which is included in servicing rights and other intangible assets on the Unaudited

Consolidated Balance Sheets. For additional information on the Cadence acquisition, see Note 3 - “Business

Combinations” of the Notes to Unaudited Consolidated Financial Statements.

A rollforward of goodwill by business segment for which goodwill is allocated is presented in the table below.

(dollar amounts in millions)	Consumer & Regional Banking		Commercial Banking		Huntington Consolidated
Balance, December 31, 2025	$3,855		$2,142		$5,997
Cadence acquisition (1)	2,597		900		3,497
Other activity	—		33		33
Balance, June 30, 2026	$6,452		$3,075		$9,527

(1) On February 1, 2026, Huntington completed the acquisition of Cadence. Fair value estimates related to the acquired assets and liabilities are subject to

adjustment during the one-year measurement period following the closing of the acquisition.

Huntington’s other intangible assets consisted of the following:

(dollar amounts in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
At June 30, 2026
Core deposit intangible	$1,328		$(427)		$901
Other intangible assets	76		(62)		14
Total other intangible assets	$1,404		$(489)		$915
At December 31, 2025
Core deposit intangible	$473		$(335)		$138
Other intangible assets	66		(59)		7
Total other intangible assets	$539		$(394)		$145

9**.** BORROWINGS

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

following.

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Securities sold under agreements to repurchase	$—		$22
FHLB advances	2,700		1,000
Other borrowings	411		239
Total short-term borrowings	$3,111		$1,261

The carrying value of assets pledged as collateral against repurchase agreements totaled $40 million as of

December 31, 2025. There were no assets pledged as collateral against repurchase agreements as of June 30, 2026.

Assets pledged as collateral are reported in available-for-sale securities and held-to-maturity securities on the

Unaudited Consolidated Balance Sheets. The repurchase agreements have maturities within 60 days. No amounts

have been offset against the agreements.

2026 2Q Form 10-Q 69

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The following table summarizes the composition of Huntington’s long-term debt.

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
The Parent Company:
Senior Notes	$6,407		$5,514
Subordinated Notes	2,085		1,510
Total notes issued by the Parent Company	8,492		7,024
The Bank:
Senior Notes	3,174		3,192
Subordinated Notes	236		233
Total notes issued by the Bank	3,410		3,425
FHLB Advances	4,653		4,514
Credit linked notes (1)	1,250		1,161
Auto loan securitization trust (2)	428		600
Other	505		497
Total long-term debt	$18,738		$17,221

(1)As of June 30, 2026, the weighted average contractual interest rate on the CLNs was 5.53%. Huntington has elected the fair value option for these notes.

To the extent losses exceed certain thresholds, the principal and interest payable on the notes may be reduced by a portion of the Company's aggregate

net losses on the reference pool of loans, with losses allocated to note classes in reverse order of payment priority.

(2)Represents secured borrowings collateralized by auto loans with a weighted average rate of 5.21% due through 2029. See Note 16 - “Variable Interest

Entities” for additional information.

During the first quarter of 2026, Huntington issued $1.0 billion of fixed-to-floating rate senior and $750 million

of fixed-rate subordinated notes. The fixed-to-floating senior notes are due January 28, 2032 and bear an initial fixed

interest rate of 4.623%. Commencing January 28, 2031, the interest rate will reset to a floating rate equal to a

benchmark rate based on the Compounded SOFR Index Rate plus 99 basis points. The fixed-rate subordinated notes

are due January 28, 2041 and bear interest at 5.605%.

During the first quarter of 2026, the Bank completed a CLN transaction whereby it issued $410 million of

unsecured credit linked notes to third-party investors. There are four classes of notes, each maturing in February

2034. One note class bears interest at a fixed rate of 4.550% and the remaining three note classes bear interest at a

floating rate equal to SOFR plus a spread rate that ranges from 1.00% to 8.65% (weighted average spread of 4.15%).

These notes transfer a portion of the risk of losses to third-party investors on an initial $3.5 billion reference pool of

Huntington’s auto-secured loans.

70 Huntington Bancshares Incorporated

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10**.** OTHER COMPREHENSIVE INCOME

The following table summarizes the components of Huntington’s OCI.

(dollar amounts in millions)	Pretax		Tax (expense) benefit		After-tax
Three months ended June 30, 2026
Unrealized losses on available-for-sale securities arising during the period, net of hedges	$(51)		$13		$(38)
Reclassification adjustment for realized net losses included in net income	3		(1)		2
Total unrealized losses on available-for-sale securities, net of hedges	(48)		12		(36)
Unrealized losses on cash flow hedges during the period	(158)		37		(121)
Reclassification adjustment for cash flow hedges included in net income	4		(1)		3
Net change related to cash flow hedges on loans	(154)		36		(118)
Translation adjustments, net of hedges (1)	(2)		1		(1)
Change in accumulated unrealized gains for pension and other post-retirement obligations	2		(1)		1
Other comprehensive loss	$(202)		$48		$(154)
Three months ended June 30, 2025
Unrealized gains on available-for-sale securities during the period, net of hedges	$65		$(17)		$48
Reclassification adjustment for realized net losses included in net income	65		(16)		49
Total unrealized gains on available-for-sale securities, net of hedges	130		(33)		97
Unrealized gains on cash flow hedges during the period	99		(24)		75
Reclassification adjustment for cash flow hedges included in net income	11		(3)		8
Net change related to cash flow hedges on loans	110		(27)		83
Translation adjustments, net of hedges (1)	8		(2)		6
Change in accumulated unrealized gains for pension and other post-retirement obligations	1		—		1
Other comprehensive income	$249		$(62)		$187
Six months ended June 30, 2026
Unrealized losses on available-for-sale securities arising during the period, net of hedges	$(125)		$30		$(95)
Reclassification adjustment for realized net gains included in net income	(22)		5		(17)
Total unrealized losses on available-for-sale securities, net of hedges	(147)		35		(112)
Unrealized losses on cash flow hedges during the period	(264)		62		(202)
Reclassification adjustment for cash flow hedges included in net income	10		(2)		8
Net change related to cash flow hedges on loans	(254)		60		(194)
Translation adjustments, net of hedges (1)	(3)		2		(1)
Change in accumulated unrealized gains for pension and other post-retirement obligations	4		(2)		2
Other comprehensive loss	$(400)		$95		$(305)
Six months ended June 30, 2025
Unrealized gains on available-for-sale securities arising during the period, net of hedges	$394		$(93)		$301
Reclassification adjustment for realized net losses included in net income	67		(16)		51
Total unrealized gains on available-for-sale securities, net of hedges	461		(109)		352
Unrealized gains on cash flow hedges during the period	301		(71)		230
Reclassification adjustment for cash flow hedges included in net income	39		(9)		30
Net change related to cash flow hedges on loans	340		(80)		260
Translation adjustments, net of hedges (1)	9		(2)		7
Change in accumulated unrealized gains for pension and other post-retirement obligations	1		—		1
Other comprehensive income	$811		$(191)		$620

(1)A portion of foreign investments are deemed to be permanent in nature and, therefore, Huntington does not provide for taxes on this portion of foreign

currency translation adjustments.

2026 2Q Form 10-Q 71

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The following table summarizes the activity in AOCI.

(dollar amounts in millions)	Unrealized gains (losses) on available-for-sale securities, net of hedges (1)		Net change related to cash flow hedges on loans		Translation adjustments, net of hedges		Unrealized losses for pension and other post- retirement obligations		Total
Three months ended June 30, 2026
Balance, beginning of period	$(1,814)		$(49)		$(4)		$(192)		$(2,059)
Other comprehensive (loss) income before reclassifications	(38)		(121)		(1)		1		(159)
Amounts reclassified from AOCI to earnings	2		3		—		—		5
Period change	(36)		(118)		(1)		1		(154)
Balance, end of period	$(1,850)		$(167)		$(5)		$(191)		$(2,213)
Three months ended June 30, 2025
Balance, beginning of period	$(2,110)		$(90)		$(11)		$(222)		$(2,433)
Other comprehensive income before reclassifications	48		75		6		1		130
Amounts reclassified from AOCI to earnings	49		8		—		—		57
Period change	97		83		6		1		187
Balance, end of period	$(2,013)		$(7)		$(5)		$(221)		$(2,246)
Six months ended June 30, 2026
Balance, beginning of period	$(1,738)		$27		$(4)		$(193)		$(1,908)
Other comprehensive (loss) income before reclassifications	(95)		(202)		(1)		2		(296)
Amounts reclassified from AOCI to earnings	(17)		8		—		—		(9)
Period change	(112)		(194)		(1)		2		(305)
Balance, end of period	$(1,850)		$(167)		$(5)		$(191)		$(2,213)
Six months ended June 30, 2025
Balance, beginning of period	$(2,365)		$(267)		$(12)		$(222)		$(2,866)
Other comprehensive income before reclassifications	301		230		7		1		539
Amounts reclassified from AOCI to earnings	51		30		—		—		81
Period change	352		260		7		1		620
Balance, end of period	$(2,013)		$(7)		$(5)		$(221)		$(2,246)

(1)AOCI amounts at June 30, 2026 and June 30, 2025 include $41 million and $47 million, respectively, of net unrealized losses (after-tax) on securities

previously transferred from the AFS securities portfolio to the HTM securities portfolio. The net unrealized losses will be recognized in earnings over the

remaining life of the security using the effective interest method.

72 Huntington Bancshares Incorporated

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11**.** SHAREHOLDERS' EQUITY

Preferred Stock

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

(dollar amounts in millions)		Issuance Date		Shares Outstanding		Dividend Rate		Earliest Redemption Date (1)		Carrying Amount
Preferred Series						At June 30, 2026		At December 31, 2025
Series B (2)		12/28/2011		35,500		Variable (3)		1/15/2017		$24		$24
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 (5)		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		317
Series K (4)		9/11/2025		7,500		6.25		10/15/2030		741		741
Series L (5)		2/1/2026		6,900		5.50		(6)		150		—
Total				891,900						$2,881		$2,731

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

(2)Liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.

(3)3-month CME Term SOFR + 26 bps spread adjustment + 270 bps.

(4) Liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.

(5) Liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.

(6)Redeemable on any dividend payment date.

The following table presents the dividends declared for each series of preferred stock.

		Three Months Ended								Six Months Ended
(amounts in millions, except per share data)		June 30, 2026				June 30, 2025				June 30, 2026				June 30, 2025
	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		$16.59		$1		$18.04		$1		$33.17		$2		$36.20		$2
Series F		1,406.25		7		1,406.25		8		2,812.50		14		2,812.50		14
Series G		1,112.50		6		1,112.50		5		2,225.00		12		2,225.00		11
Series H		11.25		6		11.25		5		22.50		12		22.50		11
Series I		356.25		2		356.25		3		712.50		4		712.50		5
Series J		17.19		6		17.19		5		34.38		12		34.38		11
Series K (1)		1,562.50		11						3,125.00		22
Series L (2)		343.75		2						687.50		4
Total				$41				$27				$82				$54

(1) Series K was issued during the third quarter of 2025, with the first dividend declaration for the Series K occurring in the fourth quarter of 2025.

(2)Series L was issued during the first quarter of 2026, with the first dividend declaration for the Series L occurring in the first quarter of 2026.

2026 2Q Form 10-Q 73

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12**.** EARNINGS PER SHARE

Basic earnings per share is the amount of earnings (adjusted for preferred stock dividends and the impact of

preferred stock repurchases and redemptions) available to each share of common stock outstanding during the

reporting period. Diluted earnings per share is the amount of earnings available to each share of common stock

outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares.

Potentially dilutive common shares include incremental shares issued for stock options, restricted stock units and

awards, performance share units, and shares held in deferred compensation plans. Potentially dilutive common

shares are excluded from the computation of diluted earnings per share in periods in which the effect would be

antidilutive.

The following table shows the calculation of basic and diluted earnings per share.

	Three Months Ended				Six Months Ended
(dollar amounts in millions, except per share data, share count in thousands)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Basic earnings per common share:
Net income attributable to Huntington	$727		$536		$1,250		$1,063
Dividends on preferred shares	41		27		82		54
Net income available to common shareholders	$686		$509		$1,168		$1,009
Average common shares issued and outstanding	2,021,373		1,457,309		1,945,805		1,455,904
Basic earnings per common share	$0.34		$0.35		$0.60		$0.69
Diluted earnings per common share:
Average dilutive potential common shares:
Stock options, restricted stock units and awards, and performance share units	19,719		16,587		21,956		18,567
Shares held in deferred compensation plans	7,219		7,100		7,191		7,070
Average dilutive potential common shares	26,938		23,687		29,147		25,637
Total diluted average common shares issued and outstanding	2,048,311		1,480,996		1,974,952		1,481,541
Diluted earnings per common share	$0.33		$0.34		$0.59		$0.68
Anti-dilutive awards (1)	874		7,135		1,099		4,750

(1)Reflects the total number of shares related to outstanding options that have been excluded from the computation of diluted earnings per share because

the impact would have been anti-dilutive.

74 Huntington Bancshares Incorporated

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13**.** REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue is segregated based on the nature of the product and services offered as part of contractual

arrangements. Certain sources of revenue are recognized within interest or fee income and are outside of the scope

of ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Other sources of revenue fall within the

scope of the ASC 606 and are generally recognized within noninterest income. The following table presents total

noninterest income disaggregated by operating segment and segregated between revenue with contracts with

customers within the scope of ASC 606 and revenue within the scope of other GAAP topics.

(dollar amounts in millions)	Consumer & Regional Banking		Commercial Banking		Treasury / Other		Huntington Consolidated
Major Revenue Streams
Three months ended June 30, 2026
Payments and cash management revenue	$134		$59		$—		$193
Wealth and asset management revenue	128		6		—		134
Customer deposit and loan fees	72		5		—		77
Capital markets and advisory fees	7		65		—		72
Leasing revenue	2		(1)		—		1
Insurance income	17		3		1		21
Other noninterest income	2		(1)		3		4
Net revenue from contracts with customers	362		136		4		502
Noninterest income within the scope of other GAAP topics	95		139		49		283
Total noninterest income	$457		$275		$53		$785
Three months ended June 30, 2025
Payments and cash management revenue	$117		$33		$—		$150
Wealth and asset management revenue	98		4		—		102
Customer deposit and loan fees	58		4		—		62
Capital markets and advisory fees	2		39		—		41
Leasing revenue	—		3		—		3
Insurance income	19		—		—		19
Other noninterest income	1		1		(2)		—
Net revenue from contracts with customers	295		84		(2)		377
Noninterest income within the scope of other GAAP topics	44		93		(43)		94
Total noninterest income	$339		$177		$(45)		$471

2026 2Q Form 10-Q 75

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(dollar amounts in millions)	Consumer & Regional Banking		Commercial Banking		Treasury / Other		Huntington Consolidated
Major Revenue Streams
Six Months Ended June 30, 2026
Payments and cash management revenue	$254		$116		$—		$370
Wealth and asset management revenue	242		12		—		254
Customer deposit and loan fees	138		9		—		147
Capital markets and advisory fees	14		132		—		146
Leasing revenue	4		—		—		4
Insurance income	35		6		1		42
Other noninterest income	4		4		3		11
Net revenue from contracts with customers	691		279		4		974
Noninterest income within the scope of other GAAP topics	153		248		92		493
Total noninterest income	$844		$527		$96		$1,467
Six Months Ended June 30, 2025
Payments and cash management revenue	$225		$65		$—		$290
Wealth and asset management revenue	193		10		—		203
Customer deposit and loan fees	110		6		—		116
Capital markets and advisory fees	6		65		—		71
Leasing revenue	1		6		—		7
Insurance income	36		3		—		39
Other noninterest income	2		2		(2)		2
Net revenue from contracts with customers	573		157		(2)		728
Noninterest income within the scope of other GAAP topics	93		182		(38)		237
Total noninterest income	$666		$339		$(40)		$965

Huntington generally provides services for customers in which it acts as principal. Payment terms and conditions

vary amongst services and customers and thus impact the timing and amount of revenue recognition. Some fees

may be paid before any service is rendered and accordingly, such fees are deferred until the obligations pertaining to

those fees are satisfied. Most Huntington contracts with customers are cancelable by either party without penalty or

they are short-term in nature, with a contract duration of less than one year. Accordingly, most revenue deferred for

the reporting period ended June 30, 2026 is expected to be earned within one year. Huntington does not have

significant balances of contract assets or contract liabilities, and any change in those balances during the reporting

period ended June 30, 2026 was determined to be immaterial.

2026 2Q Form 10-Q 76

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14**.** FAIR VALUES OF ASSETS AND LIABILITIES

See Note 19 - “Fair Value of Assets and Liabilities” to the Consolidated Financial Statements appearing in

Huntington’s 2025 Annual Report on Form 10-K for a description of the valuation methodologies used for

instruments measured at fair value. Assets and liabilities measured at fair value rarely transfer between Level 1 and

Level 2 measurements. There were no such transfers during the three-month and six-month periods ended June 30,

2026 and 2025.

Assets and Liabilities measured at fair value on a recurring basis

The following tables present our assets and liabilities measured at fair value on a recurring basis, including

instruments where we have elected the fair value option.

	Fair Value Measurements at Reporting Date Using						Netting Adjustments (1)		Total
(dollar amounts in millions)	Level 1		Level 2		Level 3
At June 30, 2026
Assets
Trading account assets	$10		$316		$—		$—		$326
Available-for-sale securities:
U.S. Treasury	8,777		—		—		—		8,777
Residential MBS	—		11,955		—		—		11,955
Residential CMO	—		6,333		—		—		6,333
Commercial MBS	—		2,567		—		—		2,567
Other agencies	—		474		—		—		474
Municipal securities	—		84		4,565		—		4,649
Corporate debt	—		169		—		—		169
Asset-backed securities	—		136		43		—		179
Private-label CMO	—		73		20		—		93
Other securities/sovereign debt	—		10		—		—		10
Total available-for-sale securities	8,777		21,801		4,628		—		35,206
Other securities	30		43		—		—		73
Loans held for sale	—		1,287		—		—		1,287
Loans held for investment	—		102		62		—		164
MSRs	—		—		752		—		752
Other assets:
Derivative assets	—		547		12		(322)		237
Assets held in trust for deferred compensation plans	236		—		—		—		236
Liabilities
Short-term borrowings	260		70		—		—		330
Long-term debt	—		1,250		—		—		1,250
Derivative liabilities	—		975		3		(238)		740

(1)Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash

collateral held or placed with the same counterparties.

2026 2Q Form 10-Q 77

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	Fair Value Measurements at Reporting Date Using						Netting Adjustments (1)		Total
(dollar amounts in millions)	Level 1		Level 2		Level 3
At December 31, 2025
Assets
Trading account assets	$—		$63		$—		$—		$63
Available-for-sale securities:
U.S. Treasury	4,635		—		—		—		4,635
Residential MBS	—		9,669		—		—		9,669
Residential CMO	—		5,197		—		—		5,197
Commercial MBS	—		1,831		—		—		1,831
Other agencies	—		150		—		—		150
Municipal securities	—		82		4,061		—		4,143
Corporate debt	—		178		—		—		178
Asset-backed securities	—		193		28		—		221
Private-label CMO	—		79		19		—		98
Other securities/sovereign debt	—		10		—		—		10
Total available-for-sale securities	4,635		17,389		4,108		—		26,132
Other securities	30		12		—		—		42
Loans held for sale	—		885		—		—		885
Loans held for investment	—		105		62		—		167
MSRs	—		—		593		—		593
Other assets:
Derivative assets	—		499		8		(260)		247
Assets held in trust for deferred compensation plans	216		—		—		—		216
Liabilities
Short-term borrowings	131		7		—		—		138
Long-term debt	—		1,161		—		—		1,161
Derivative liabilities	—		514		5		(169)		350

(1)Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash

collateral held or placed with the same counterparties.

The following table presents a rollforward of the balance sheet amounts measured at fair value on a recurring

basis and classified as Level 3. The classification of an item as Level 3 is based on the significance of the unobservable

inputs to the overall fair value measurement. However, Level 3 measurements may also include observable

components of value that can be validated externally. Accordingly, the gains and losses in the table below include

changes in fair value due in part to observable factors that are part of the valuation methodology.

2026 2Q Form 10-Q 78

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	Level 3 Fair Value Measurements
					Available-for-sale securities						Loans held for investment
(dollar amounts in millions)	MSRs		Derivative instruments		Municipal securities		Private- label CMO		Asset-backed securities
Three months ended June 30, 2026
Opening balance	$735		$6		$4,251		$20		$19		$61
Transfers into Level 3	—		—		—		—		—		3
Transfers out of Level 3 (1)	—		(15)		—		—		—		—
Total gains (losses) for the period:
Included in earnings:
Mortgage banking income	1		17		—		—		—		—
Included in OCI	—		—		(6)		—		—		—
Purchases/originations	40		—		663		—		24		—
Repayments	—		—		—		—		—		(2)
Settlements	(24)		1		(343)		—		—		—
Closing balance	$752		$9		$4,565		$20		$43		$62
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$1		$3		$—		$—		$—		$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—		—		(8)		—		—		—
Three months ended June 30, 2025
Opening balance	$564		$3		$3,929		$22		$47		$63
Transfers into Level 3	—		—		—		—		—		1
Transfers out of Level 3 (1)	—		(10)		—		—		—		—
Total gains (losses) for the period:
Included in earnings:
Interest and fee income	—		—		(1)		—		—		—
Mortgage banking income	—		12		—		—		—		—
Other noninterest income	—		(1)		—		—		—		—
Included in OCI	—		—		12		—		—		—
Purchases/originations	20		—		421		—		—		—
Repayments	—		—		—		—		—		(2)
Settlements	(17)		3		(294)		(1)		(9)		—
Closing balance	$567		$7		$4,067		$21		$38		$62
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$—		$2		$—		$—		$—		$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—		—		10		—		—		—

(1)Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e., interest rate lock agreements) that are transferred to loans held

for sale, which is classified as Level 2.

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	Level 3 Fair Value Measurements
					Available-for-sale securities						Loans held for investment
(dollar amounts in millions)	MSRs		Derivative instruments		Municipal securities		Private- label CMO		Asset-backed securities
Six months ended June 30, 2026
Opening balance	$593		$3		$4,061		$19		$28		$62
Transfers into Level 3	—		—		—		—		—		4
Transfers out of Level 3 (1)	—		(28)		—		—		—		—
Total gains (losses) for the period:
Included in earnings:
Mortgage banking income	(4)		30		—		—		—		—
Included in OCI	—		—		(32)		—		—		—
Acquisition	140		1		—		—		—		—
Purchases/originations	68		—		989		—		24		—
Repayments	—		—		—		—		—		(4)
Settlements	(45)		3		(453)		1		(9)		—
Closing balance	$752		$9		$4,565		$20		$43		$62
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$(4)		$4		$—		$—		$—		$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—		—		(34)		—		—		—
Six months ended June 30, 2025
Opening balance	$573		$2		$3,954		$21		$49		$61
Transfers into Level 3	—		—		—		—		—		4
Transfers out of Level 3 (1)	—		(17)		—		—		—		—
Total gains (losses) for the period:
Included in earnings:
Interest and fee income	—		—		(1)		—		—		—
Mortgage banking income	(15)		22		—		—		—		—
Other noninterest income	—		(6)		—		—		—		—
Included in OCI	—		—		17		—		—		—
Purchases/originations	40		—		639						—
Repayments	—		—		—		—		—		(3)
Settlements	(31)		6		(542)		—		(11)		—
Closing balance	$567		$7		$4,067		$21		$38		$62
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$(15)		$5		$—		$—		$—		$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—		—		14		—		—		—
(1)Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e., interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2.

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Assets and liabilities under the fair value option

The following table presents the fair value and aggregate principal balance of certain assets and liabilities under

the fair value option.

	Total Loans						Loans that are 90 or more days past due
(dollar amounts in millions)	Fair value carrying amount		Aggregate unpaid principal		Difference		Fair value carrying amount		Aggregate unpaid principal		Difference
At June 30, 2026
Assets
Loans held for sale	$1,287		$1,253		$34		$—		$—		$—
Loans held for investment	164		176		(12)		6		7		(1)
Liabilities
Long-term debt	1,250		1,258		8
At December 31, 2025
Assets
Loans held for sale	$885		$855		$30		$—		$—		$—
Loans held for investment	167		179		(12)		3		4		(1)
Liabilities
Long-term debt	1,161		1,151		(10)

The following table presents the net gains (losses) from fair value changes.

			Three Months Ended				Six Months Ended
(dollar amounts in millions)	Classification		June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Loans held for sale	Mortgage banking income		$12		$9		$4		$15
Loans held for investment	Mortgage banking income		(1)		—		—		(1)
Long-term debt	Other noninterest income		(7)		(4)		18		(5)

Assets and Liabilities measured at fair value on a nonrecurring basis

Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods

subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing

basis; however, they are subject to fair value adjustments in certain circumstances, for example, when there is

evidence of impairment. The gains (losses) represent the amounts recorded during the period regardless of whether

the asset is still held at period end.

The amounts measured at fair value on a nonrecurring basis were as follows.

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)				Total Losses
		Three Months Ended				Six Months Ended
(dollar amounts in millions)	At June 30, 2026		At December 31, 2025		June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Collateral-dependent loans	$143		$74		$(51)		$(20)		$(88)		$(43)

Huntington records nonrecurring adjustments of collateral-dependent loans held for investment. Such amounts

are generally based on the fair value of the underlying collateral supporting the loan. Appraisals are generally

obtained to support the fair value of the collateral and incorporate measures such as recent sales prices for

comparable properties and cost of construction. Periodically, in cases where the carrying value exceeds the fair

value of the collateral less cost to sell, an impairment charge is recognized in the form of a charge-off.

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Significant unobservable inputs for assets and liabilities measured at fair value

The following table presents quantitative information about the significant unobservable inputs for assets and

liabilities measured at fair value.

Quantitative Information about Level 3 Fair Value Measurements (1)
					At June 30, 2026						At December 31, 2025
(dollar amounts in millions)	Valuation Technique		Significant Unobservable Input		Range				Weighted Average		Range				Weighted Average
Measured at fair value on a recurring basis:
MSRs	Discounted cash flow		Constant prepayment rate		7%	-	64%		8%		6%	-	61%		8%
			Spread over forward interest rate swap rates		5%	-	11%		5%		5%	-	11%		5%
Municipal securities and asset- backed securities	Discounted cash flow		Discount rate		4%	-	5%		4%		4%	-	4%		4%
			Cumulative default		—%	-	64%		3%		—%	-	64%		3%
			Loss given default (2)						20%						20%

(1) Certain disclosures related to quantitative level 3 fair value measurements do not include those deemed to be immaterial.

(2) The range is not meaningful for this unobservable input.

The following provides a general description of the impact of a change in an unobservable input on the fair value

measurement and the interrelationship between unobservable inputs, where relevant/significant. Interrelationships

may also exist between observable and unobservable inputs.

Components of credit loss estimates including probability of default, constant default, cumulative default, loss

given default, cure given deferral, and loss severity, are driven by the ability of the borrowers to pay their loans and

the value of the underlying collateral and are impacted by changes in macroeconomic conditions, typically increasing

when economic conditions worsen and decreasing when conditions improve. An increase in the estimated

prepayment rate typically results in a decrease in estimated credit losses and vice versa. Higher credit loss estimates

generally result in lower fair values. Credit spreads generally increase when liquidity risks and market volatility

increase and decrease when liquidity conditions and market volatility improve.

Discount rates and spread over forward interest rate swap rates typically increase when market interest rates

increase and/or credit and liquidity risks increase and decrease when market interest rates decline and/or credit and

liquidity conditions improve. Higher discount rates and credit spreads generally result in lower fair market values.

Fair values of financial instruments

Many of the assets and liabilities subject to the disclosure requirements are not actively traded, requiring fair

values to be estimated by management. These estimations necessarily involve the use of judgment about a wide

variety of factors, including, but not limited to, relevancy of market prices of comparable instruments, expected

future cash flows, and appropriate discount rates.

The short-term nature of certain assets and liabilities result in their carrying value approximating fair value.

These include trading account assets, customers’ acceptance liabilities, short-term borrowings, bank acceptances

outstanding, and cash and short-term assets, which include cash and due from banks and interest-earning deposits

with banks. Loan commitments and letters-of-credit generally have short-term, variable-rate features and contain

clauses that limit Huntington’s exposure to changes in customer credit quality. Accordingly, their carrying values,

which are immaterial at the respective balance sheet dates, are reasonable estimates of fair value.

Certain assets, the most significant being operating lease assets, bank-owned life insurance, and premises and

equipment, do not meet the definition of a financial instrument and are excluded from this disclosure. Similarly,

mortgage servicing rights and relationship intangibles are not considered financial instruments and are not included

in the following tables. Accordingly, this fair value information is not intended to, and does not, represent

Huntington’s underlying value.

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The following table provides the carrying amounts and estimated fair values of Huntington’s financial

instruments.

(dollar amounts in millions)	Amortized Cost		Lower of Cost or Market		Fair Value or Fair Value Option		Total Carrying Amount		Estimated Fair Value
At June 30, 2026
Financial Assets
Cash and short-term assets	$16,044		$—		$—		$16,044		$16,044
Trading account assets	—		—		326		326		326
Available-for-sale securities	—		—		35,206		35,206		35,206
Held-to-maturity securities	14,384		—		—		14,384		12,677
Other securities	1,310		—		73		1,383		1,383
Loans held for sale	—		599		1,287		1,886		1,886
Net loans and leases (1)	186,009		—		164		186,173		185,314
Derivative assets	—		—		237		237		237
Assets held in trust for deferred compensation plans	—		—		236		236		236
Financial Liabilities
Deposits (2)	222,466		—		—		222,466		222,463
Short-term borrowings	2,781		—		330		3,111		3,111
Long-term debt	17,488		—		1,250		18,738		18,951
Derivative liabilities	—		—		740		740		740
At December 31, 2025
Financial Assets
Cash and short-term assets	$14,078		$—		$—		$14,078		$14,078
Trading account assets	—		—		63		63		63
Available-for-sale securities	—		—		26,132		26,132		26,132
Held-to-maturity securities	15,258		—		—		15,258		13,636
Other securities	952		—		42		994		994
Loans held for sale	—		530		885		1,415		1,420
Net loans and leases (1)	146,938		—		167		147,105		146,273
Derivative assets	—		—		247		247		247
Assets held in trust for deferred compensation plans	—		—		216		216		216
Financial Liabilities
Deposits (2)	176,610		—		—		176,610		176,610
Short-term borrowings	1,123		—		138		1,261		1,261
Long-term debt	16,060		—		1,161		17,221		17,479
Derivative liabilities	—		—		350		350		350

(1)Includes collateral-dependent loans.

(2)Includes $4.4 billion and $2.1 billion in time deposits in excess of the FDIC insurance coverage limit at June 30, 2026 and December 31, 2025, respectively.

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The following table presents the level in the fair value hierarchy for the estimated fair values.

	Estimated Fair Value Measurements at Reporting Date Using						Netting		Estimated Fair Value
(dollar amounts in millions)	Level 1		Level 2		Level 3		Adjustments (1)
At June 30, 2026
Financial Assets
Trading account assets	$10		$316		$—		$—		$326
Available-for-sale securities	8,777		21,801		4,628		—		35,206
Held-to-maturity securities	2,111		10,566		—		—		12,677
Other securities (2)	30		43		—		—		73
Loans held for sale	—		1,287		599		—		1,886
Net loans and leases	—		102		185,212		—		185,314
Derivative assets	—		547		12		(322)		237
Financial Liabilities
Deposits	—		192,922		29,541		—		222,463
Short-term borrowings	260		2,851		—		—		3,111
Long-term debt	—		13,698		5,253		—		18,951
Derivative liabilities	—		975		3		(238)		740
At December 31, 2025
Financial Assets
Trading account assets	$—		$63		$—		$—		$63
Available-for-sale securities	4,635		17,389		4,108		—		26,132
Held-to-maturity securities	2,368		11,268		—		—		13,636
Other securities (2)	30		12		—		—		42
Loans held for sale	—		885		535		—		1,420
Net loans and leases	—		105		146,168		—		146,273
Derivative assets	—		499		8		(260)		247
Financial Liabilities
Deposits	—		158,472		18,138		—		176,610
Short-term borrowings	131		1,130		—		—		1,261
Long-term debt	—		12,336		5,143		—		17,479
Derivative liabilities	—		514		5		(169)		350

(1)Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash

collateral held or placed with the same counterparties.

(2)Excludes securities without readily determinable fair values.

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15**.** DERIVATIVE FINANCIAL INSTRUMENTS

Derivative financial instruments are recorded in the Unaudited Consolidated Balance Sheets as either an asset or

a liability (in other assets or other liabilities, respectively) and measured at fair value.

Derivative financial instruments can be designated as accounting hedges under GAAP. Designating a derivative

as an accounting hedge allows Huntington to recognize gains and losses on the hedging instruments in the income

statement line item where the gains and losses on the hedged item are recognized. Gains and losses on derivatives

that are not designated in an effective hedge relationship under GAAP immediately impact earnings within the

period they occur.

The following table presents the fair values and notional values of all derivative instruments included in the

Unaudited Consolidated Balance Sheets. Amounts in the table below are presented gross without the impact of any

net collateral arrangements.

	At June 30, 2026						At December 31, 2025
(dollar amounts in millions)	Notional Value		Asset		Liability		Notional Value		Asset		Liability
Derivatives designated as Hedging Instruments
Interest rate contracts	$43,596		$44		$207		$43,996		$109		$28
Foreign exchange contracts	273		—		5		809		4		—
Derivatives not designated as Hedging Instruments
Interest rate contracts	57,916		314		625		49,284		260		389
Foreign exchange contracts	7,956		98		76		7,085		58		60
Equity contracts	878		36		3		912		33		5
Commodities contracts	1,175		64		62		822		40		37
Credit contracts	93		3		—		139		3		—
Total contracts	$111,887		$559		$978		$103,047		$507		$519

The following table presents the amount of gain or loss recognized in income for derivatives not designated as

hedging instruments under ASC Subtopic 815-10 in the Unaudited Consolidated Income Statement.

		Location of Gain or (Loss) Recognized in Income on Derivatives		Amount of Gain or (Loss) Recognized in Income on Derivatives
			Three Months Ended				Six Months Ended
(dollar amounts in millions)			June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Interest rate contracts:
Customer		Capital markets and advisory fees		$18		$13		$30		$21
Mortgage banking		Mortgage banking income		(18)		(21)		(10)		—
Foreign exchange contracts		Capital markets and advisory fees		14		13		27		24
Equity contracts		Other noninterest income and other noninterest expense		3		4		(4)		1
Commodities contracts		Capital markets and advisory fees		1		1		2		2
Credit contracts		Other noninterest income		(1)		(2)		(2)		(4)
Total				$17		$8		$43		$44

Derivatives used in asset and liability management activities

Huntington engages in balance sheet hedging activity, principally for asset and liability management purposes.

Balance sheet hedging activity is generally arranged to receive hedge accounting treatment that can be classified as

either fair value or cash flow hedges. Fair value hedges are executed to hedge changes in fair value of outstanding

fixed-rate debt and investment securities caused by fluctuations in market interest rates. Cash flow hedges are

executed to modify interest rate characteristics of designated commercial loans in order to reduce the impact of

changes in future cash flows due to market interest rate changes.

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The following table presents the gross notional values of derivatives used in Huntington’s asset and liability

management activities at June 30, 2026 and December 31, 2025, identified by the underlying interest rate-sensitive

instruments.

(dollar amounts in millions)	Fair Value Hedges		Cash Flow Hedges		Economic Hedges		Total
At June 30, 2026
Instruments associated with:
Investment securities	$5,622		$—		$—		$5,622
Loans	—		25,575		28		25,603
Long-term debt	12,399		—		—		12,399
Total notional value	$18,021		$25,575		$28		$43,624
At December 31, 2025
Instruments associated with:
Investment securities	$5,147		$—		$—		$5,147
Loans	—		28,250		28		28,278
Long-term debt	10,599		—		—		10,599
Total notional value	$15,746		$28,250		$28		$44,024

These derivative financial instruments were entered into for the purpose of managing the interest rate risk of

assets and liabilities. Net amounts receivable or payable on contracts hedging either interest-earning assets or

interest-bearing liabilities were accrued as an adjustment to either interest income or interest expense. Adjustments

to interest income were also recorded for the amounts related to the amortization of premiums for floors that were

not included in the measurement of hedge effectiveness, as well as the amounts related to terminated hedges

reclassified from AOCI. The net amounts resulted in decreases to net interest income of $18 million and $7 million

for the three-month periods ended June 30, 2026, and 2025, respectively, and decreases to net income of $33

million and $25 million for the six-month periods ended June 30, 2026, and 2025, respectively.

Fair Value Hedges

The changes in fair value of the fair value hedges are recorded through earnings and offset against changes in

the fair value of the hedged item.

Huntington has designated $5.6 billion of interest rate swaps as fair value hedges of fixed-rate investment

securities using the portfolio layer method. This approach allows the Company to designate as the hedged item a

stated amount of the assets that are not expected to be affected by prepayments, defaults, or other factors affecting

the timing and amount of cash flows. The fair value portfolio level basis adjustment on our hedged MBS portfolio

has not been attributed to the individual AFS securities in our Unaudited Consolidated Balance Sheets.

The following table presents the change in fair value for derivatives designated as fair value hedges as well as

the offsetting change in fair value on the hedged item.

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Interest rate contracts
Change in fair value of interest rate swaps hedging investment securities (1)	$5		$(140)		$27		$(262)
Change in fair value of hedged investment securities (1)	(9)		138		(27)		261
Change in fair value of interest rate swaps hedging long-term debt (2)	(33)		72		(103)		215
Change in fair value of hedged long-term debt (2)	33		(72)		104		(215)

(1)Recognized in Interest income—available-for-sale securities—taxable in the Unaudited Consolidated Statements of Income.

(2)Recognized in Interest expense—long-term debt in the Unaudited Consolidated Statements of Income.

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The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair

value hedges.

	Amortized Cost				Cumulative Amount of Fair Value Hedging Adjustment To Hedged Items
(dollar amounts in millions)	At June 30, 2026		At December 31, 2025		At June 30, 2026		At December 31, 2025
Assets
Available-for-sale securities (1)	$15,525		$11,402		$(222)		$(177)
Liabilities
Long-term debt (2)	15,545		11,066		(173)		1

(1)Amounts represent the amortized cost basis of closed portfolios used to designate hedging relationships under the portfolio layer method. The hedged

item is a layer of the closed portfolio that is expected to be remaining at the end of the hedging relationship.

(2)Excluded from the above table are the cumulative amounts of fair value hedge adjustments remaining for long-term debt for which hedge accounting has

been discontinued in the amounts of $(35) million at June 30, 2026 and $(42) million at December 31, 2025.

Cash Flow Hedges

At June 30, 2026, Huntington had $25.6 billion of interest rate swaps and floors that are designated as cash flow

hedges for variable-rate commercial loans. The change in the fair value of a derivative instrument designated as a

cash flow hedge is initially recognized in OCI and is reclassified into income when the hedged item impacts earnings.

The initial premium paid for the interest rate floor contracts represents the time value of the contracts and is not

included in the measurement of hedge effectiveness. The initial premium paid is amortized on a straight-line basis as

a reduction to interest income over the contractual life of these contracts.

At June 30, 2026, net losses recognized in AOCI that are expected to be reclassified into earnings within the next

12 months totaled $11 million.

Derivatives used in mortgage banking activities

Mortgage loan origination hedging activity

Huntington uses derivatives, principally loan sale commitments, in hedging its mortgage loan interest rate lock

commitments and its mortgage loans held for sale. Mortgage loan sale commitments and the related interest rate

lock commitments are carried at fair value on the Unaudited Consolidated Balance Sheets with changes in fair value

reflected in mortgage banking income. Huntington’s mortgage origination hedging activity is related to economically

hedging Huntington’s mortgage pricing commitments to customers and the secondary sale to third parties. The

value of a newly originated mortgage is not firm until the interest rate is committed or locked. Forward

commitments to sell economically hedge the possible loss on interest rate lock commitments due to interest rate

change. These derivatives were in a net asset position of $4 million at June 30, 2026 and $2 million at December 31,

2025. At June 30, 2026 and December 31, 2025, Huntington had commitments to sell residential real estate loans of

$1.9 billion and $1.2 billion, respectively. These contracts mature in less than one year.

MSR hedging activity

Huntington also uses certain derivative financial instruments to offset changes in value of its MSRs. These

derivatives consist primarily of forward interest rate agreements and forward mortgage contracts. The derivative

instruments used are not designated as qualifying hedges. Accordingly, such derivatives are recorded at fair value

with changes in fair value reflected in mortgage banking income. Huntington’s MSR economic hedging activity uses

securities and derivatives to manage volatility of the MSR asset value to mitigate the risks inherent in the MSR

assets, which include duration, basis, convexity, and volatility. The hedging instruments include forward

commitments, TBA securities, Treasury future contracts, and interest rate swaps.

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MSR hedging trading assets and liabilities are included in other assets and other liabilities, respectively, in the

Unaudited Consolidated Balance Sheets. Trading gains (losses) are included in mortgage banking income in the

Unaudited Consolidated Statements of Income. The notional value of the derivative financial instruments, the

corresponding trading assets and liabilities positions, and net trading gains (losses) related to MSR hedging activity

are summarized in the following tables.

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Notional value	$2,525		$2,658
Trading liabilities	21		18

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Trading gains (losses)	$8		$(6)		$(2)		$9

Derivatives used in customer-related activities

Various derivative financial instruments are offered to enable customers to meet their financing and investing

objectives and for their risk-management purposes. Derivative financial instruments used in trading activities consist

of commodity, interest rate, and foreign exchange contracts. Huntington enters into offsetting third-party contracts

with approved, reputable counterparties with substantially matching terms and currencies in order to economically

hedge significant exposure related to derivatives used in trading activities.

The interest rate or price risk of customer derivatives is mitigated by entering into similar derivatives having

offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the

calculation of fair value.

The net fair values of these derivative financial instruments, for which the gross amounts are included in other

assets or other liabilities at June 30, 2026 and December 31, 2025, were $69 million and $58 million, respectively.

The total notional values of derivative financial instruments used by Huntington on behalf of customers, including

offsetting derivatives, were $61.8 billion and $52.8 billion at June 30, 2026 and December 31, 2025, respectively.

Huntington’s credit risk from customer derivatives was $99 million and $168 million at the same dates, respectively.

Credit derivative instruments

Huntington enters into credit default swaps to hedge credit risk associated with certain loans and leases. These

contracts are accounted for as derivatives, and accordingly, these contracts are recorded at fair value.

Financial assets and liabilities that are offset in the Unaudited Consolidated Balance Sheets

Huntington records derivatives at fair value as further described in Note 14 - “Fair Values of Assets and

Liabilities”.

Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable

master netting agreements. Additionally, collateral exchanged with counterparties is also netted against the

applicable derivative fair values. Huntington enters into derivative transactions with two primary groups: 1) broker-

dealers and banks and 2) Huntington’s customers. Different methods are utilized for managing counterparty credit

exposure and credit risk for each of these groups.

Huntington enters into transactions with broker-dealers and banks for various risk management purposes. These

types of transactions generally are high dollar volume. Huntington enters into collateral and master netting

agreements with these counterparties and routinely exchanges cash and high quality securities collateral.

Huntington also enters into transactions with customers to meet their financing, investing, payment, and risk-

management needs. These types of transactions generally are low dollar volume. Huntington enters into master

netting agreements with customer counterparties; however, collateral is generally not exchanged with customer

counterparties.

In addition, Huntington clears certain derivative transactions through a clearinghouse, rather than directly with

counterparties. Transactions cleared through a clearinghouse require initial margin collateral and variation margin

payments depending on the contracts being in a net asset or liability position.

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In addition to the customer derivative credit exposure, aggregate credit risk associated with broker-dealer and

bank derivative transactions was net credit risk of $60 million and $73 million at June 30, 2026 and December 31,

2025, respectively. The net credit risk associated with derivatives is calculated after considering master netting

agreements and is reduced by collateral that has been pledged by the counterparty.

At June 30, 2026, Huntington pledged $467 million of investment securities and cash collateral to

counterparties, while other counterparties pledged $237 million of investment securities and cash collateral to

Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be

required to provide additional collateral.

The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net

amounts recognized in the Unaudited Consolidated Balance Sheets.

Offsetting of Financial Assets and Derivative Assets
	Gross amounts of recognized assets		Gross amounts offset in the unaudited consolidated balance sheets		Net amounts of assets presented in the unaudited consolidated balance sheets		Gross amounts not offset in the unaudited consolidated balance sheets
(dollar amounts in millions)				Financial instruments		Cash collateral received		Net amount
At June 30, 2026	$559		$(322)		$237		$(8)		$(67)		$162
At December 31, 2025	507		(260)		247		(2)		(100)		145

Offsetting of Financial Liabilities and Derivative Liabilities
	Gross amounts of recognized liabilities		Gross amounts offset in the unaudited consolidated balance sheets		Net amounts of liabilities presented in the unaudited consolidated balance sheets		Gross amounts not offset in the unaudited consolidated balance sheets
(dollar amounts in millions)				Financial instruments		Cash collateral delivered		Net amount
At June 30, 2026	$978		$(238)		$740		$(256)		$(199)		$285
At December 31, 2025	519		(169)		350		(120)		(15)		215

16**.** VARIABLE INTEREST ENTITIES

Consolidated VIEs

Huntington engages in activities with VIEs in the normal course of business that result in Huntington being the

primary beneficiary and which are consolidated in Huntington’s financial statements. The following table provides a

summary of the assets and liabilities of VIEs carried on Huntington’s Unaudited Consolidated Balance Sheets.

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Assets
Net loans and leases	$493		$669
Other assets	468		431
Total assets	$961		$1,100
Liabilities
Long-term borrowings	$428		$600
Other liabilities	134		152
Total liabilities	$562		$752

Huntington previously completed a securitization transaction by transferring automobile loans to a SPE which

was deemed to be a VIE, with the SPE in turn issuing asset-backed notes. The primary purpose of the VIE in the

securitization transaction was to issue asset-backed securities with varying levels of credit subordination and

payment priority. Huntington retained notes and residual interest in the VIE and, therefore, has an obligation to

absorb losses and a right to receive benefits that could potentially be significant to the VIE. In addition, Huntington

retained servicing rights for the underlying loans and, therefore, holds the power to direct the activities of the VIE

that most significantly impact the economic performance of the VIE. The assets of the VIE are restricted to the

settlement of the asset-backed securities and other obligations of the VIE. Third-party holders of the asset-backed

notes do not have recourse to the general assets of Huntington.

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The economic performance of the VIE is most significantly impacted by the performance of the underlying loans.

The VIE is exposed to credit and prepayment risk, which are managed through credit enhancements in the form of

reserve accounts, over-collateralization, excess interest on the loans, and the subordination of certain classes of

asset-backed securities.

Consolidated VIEs at June 30, 2026 and December 31, 2025 also included investments in LIHTC operating entities

that were syndicated and where we serve as the general partner and manager. As manager of these entities, we

have the power to direct the activities that most significantly impact economic performance, as well as an obligation

to absorb significant expected losses, of the entities.

Unconsolidated VIEs

The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited

Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related

to unconsolidated VIEs for which Huntington holds an interest in, but is not the primary beneficiary.

(dollar amounts in millions)	Total Assets		Total Liabilities		Maximum Exposure to Loss
At June 30, 2026
Affordable housing tax credit partnerships	$3,097		$1,269		$3,097
Trust preferred securities	14		248		—
Other investments	1,925		338		1,925
Total	$5,036		$1,855		$5,022
At December 31, 2025
Affordable housing tax credit partnerships	$2,453		$946		$2,453
Trust preferred securities	14		262		—
Other investments	1,465		196		1,465
Total	$3,932		$1,404		$3,918

Affordable Housing and Other Tax Credit Investments

Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing

projects utilizing the LIHTC pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments

is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings,

and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the

limited partnerships include the identification, development, and operation of multi-family housing that is leased to

qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and

equity.

Huntington uses the proportional amortization method to account for a majority of its investments in these

entities. These investments are included in other assets. Investments that do not meet the requirements of the

proportional amortization method are accounted for using the equity method. Investment losses are included in

Other noninterest income in the Unaudited Consolidated Statements of Income.

The following table presents the balances of Huntington’s affordable housing tax credit investments and related

unfunded commitments.

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Affordable housing tax credit investments	$4,680		$3,898
Less: amortization	(1,583)		(1,445)
Net affordable housing tax credit investments	$3,097		$2,453
Unfunded commitments	$1,269		$946

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The following table presents other information relating to Huntington’s affordable housing tax credit

investments.

	Three Months Ended				Six Months Ended
(dollar amounts in millions)	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Tax credits and other tax benefits recognized	$110		$87		$221		$173
Proportional amortization expense included in provision for income taxes	85		71		167		141

The initial investment in affordable housing tax credit investments and subsequent tax credits, benefits, and

amortization are included within operating activities in the Unaudited Consolidated Statements of Cash Flows.

Trust-Preferred Securities

Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not

included within Huntington’s Unaudited Consolidated Financial Statements. These trusts have been formed for the

sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior

subordinated debentures, which are reflected in Huntington’s Unaudited Consolidated Balance Sheet as long-term

debt. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s

Unaudited Consolidated Financial Statements.

Other Investments

Other investments determined to be VIEs include investments in Small Business Investment Companies, Historic

Tax Credit Investments, certain equity method investments, renewable energy financings, and other miscellaneous

investments.

17**.** COMMITMENTS AND CONTINGENT LIABILITIES

Commitments to Extend Credit

In the ordinary course of business, Huntington makes various commitments to extend credit that are not

reflected in the Unaudited Consolidated Financial Statements. The contract amounts of these financial agreements

were as follows:

(dollar amounts in millions)	At June 30, 2026		At December 31, 2025
Contract amount representing credit risk
Commitments to extend credit:
Commercial and industrial	$56,581		$47,736
Consumer loan portfolio	24,954		21,659
Commercial real estate	6,409		4,036
Standby letters of credit and guarantees on industrial revenue bonds	1,488		895

Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that

permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in

the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the

pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant

factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts

are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial

instruments is insignificant as a result of their predominantly short-term, variable-rate nature. Certain commitments

to extend credit are secured by collateral, including residential and commercial real estate, inventory, receivables,

cash and securities, and other business assets.

Standby letters-of-credit and guarantees on industrial revenue bonds are conditional commitments issued to

guarantee the performance of a customer to a third-party. These conditional commitments are primarily issued to

support public and private borrowing arrangements, including commercial paper, bond financing, and similar

transactions and mature within two years. Since the conditions under which Huntington is required to fund these

conditional commitments may not materialize, the cash requirements are expected to be less than the total

outstanding commitments. The carrying amount of deferred revenue associated with these conditional

commitments was $34 million and $31 million at June 30, 2026 and December 31, 2025, respectively.

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Other Guarantees

Huntington provides guarantees to certain third-party investors in connection with the sale of syndicated

affordable housing tax credits. These guarantees are generally in the form of make-whole provisions that are

triggered if the underlying performance of LIHTC properties result in a shortfall to the third-party investors and

remain in effect until the final associated tax credits are realized. The maximum amount guaranteed by the Company

under these arrangements total approximately $405 million and $366 million at June 30, 2026 and December 31,

2025, respectively, and represents the guaranteed portion in these transactions where the make-whole provisions

have not yet expired. As of June 30, 2026, the Company did not expect to be subject to any make-whole provisions

under these guarantees.

Litigation and Regulatory Matters

In the ordinary course of business, Huntington is, or may be a defendant in, or party to pending and threatened

legal and regulatory actions and proceedings.

In view of the inherent difficulty of predicting the outcome of such matters, particularly where the claimants

seek very large or indeterminate damages or where the matters present novel legal theories or involve a large

number of parties, Huntington generally cannot predict what the eventual outcome of the pending matters will be,

what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines, or penalties

related to each matter may be.

Huntington establishes an accrued liability when those matters present loss contingencies that are both

probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued.

Huntington thereafter continues to monitor the matter for further developments that could affect the amount of

the accrued liability that has been previously established.

For certain matters, Huntington is able to estimate a range of possible loss. In cases in which Huntington

possesses information to estimate a range of possible loss, that estimate is aggregated and disclosed below. There

may be other matters for which a loss is probable or reasonably possible but such an estimate of the range of

possible loss may not be possible. For those matters where an estimate of the range of possible loss is possible,

management currently estimates the aggregate range of reasonably possible loss is $0 to $75 million at June 30,

2026 in excess of the accrued liability (if any) related to those matters. This estimated range of possible loss is based

upon currently available information and is subject to significant judgment, a variety of assumptions, and known and

unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual

results may vary significantly from the current estimate. The estimated range of possible loss does not represent

Huntington’s maximum loss exposure.

Based on current knowledge, management does not believe that loss contingencies arising from pending

matters will have a material adverse effect on the consolidated financial position of Huntington. Further,

management believes that amounts accrued are adequate to address Huntington’s contingent liabilities. However,

in light of the inherent uncertainties involved in these matters, some of which are beyond Huntington’s control, and

the large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these

matters could be material to Huntington’s results of operations for any particular reporting period.

The following is a description of a legal proceeding in which Huntington or its predecessors are involved:

Donelon v. Americas Insurance Co., No. 714,982 (19th Jud. Dist. Ct., Parish of E. Baton Rouge, La.), consolidated

with Cadence Bank v. Bostick, No. 717212 (19th Jud. Dist. Ct., Parish of E. Baton Rouge, La.) (filed January 13, 2023).

This action arises from an $8 million loan Cadence Bank made in November 2020 under the Federal Reserve’s

Main Street Lending Program (“MSLP”) to a holding company, which owned an insurance carrier, which carrier was

later placed into receivership following substantial losses associated with the August 2021 Category 4 Hurricane Ida.

The action, brought by the receiver on behalf of the Louisiana Insurance Commission, alleges the MSLP loan required

insurance regulatory approval that was not properly obtained by the insurance company. The receiver alleges the

MSLP loan improperly enabled the insurer to continue operations, which allegedly may not have occurred but for

the MSLP loan.

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All claims against Cadence, aside from conspiracy to commit fraud and conspiracy to commit breach of fiduciary

duty, have either been dismissed or withdrawn. The receiver seeks approximately $350 million in compensatory

damages, as well as punitive damages. The trial court heard Cadence’s challenge to the remaining claims on July 1,

2026, and took the matter under advisement. Cadence also disputes the availability of punitive damages, and a

hearing on that issue is set for August 4, 2026, in the Louisiana First Circuit Court of Appeal.

Trial is currently scheduled to commence on November 4, 2026. Cadence has consistently denied all allegations

of wrongdoing, denies that any alleged damages were the result of the MSLP loan, and intends to continue

vigorously defending the litigation.

18**.** SEGMENT REPORTING

Huntington’s business segments are based on our internally aligned segment leadership structure, which is how

management monitors results and assesses performance. Huntington reports on two business segments: Consumer

& Regional Banking and Commercial Banking. All other items not included within our two business segments are

reported within the Treasury / Other function, which primarily includes technology and operations, other

unallocated assets, liabilities, revenue, and expenses. For a description of our business segments, see Note 25 -

“Segment Reporting” to the Consolidated Financial Statements appearing in Huntington’s 2025 Annual Report on

Form 10-K.

The following tables present certain operating basis financial information for each reportable business segment

reconciled to Huntington’s consolidated financial results.

	Consumer & Regional Banking		Commercial Banking		Treasury / Other		Huntington Consolidated
(dollar amounts in millions)
Three months ended June 30, 2026
Net interest income (loss)	$1,458		$719		$(125)		$2,052
Provision for credit losses	44		87		1		132
Net interest income (loss) after provision for credit losses	1,414		632		(126)		1,920
Noninterest income	457		275		53		785
Noninterest expense:
Direct personnel costs	416		200		394		1,010
Other noninterest expense, including corporate allocations	741		244		(186)		799
Total noninterest expense	1,157		444		208		1,809
Income (loss) before income taxes	714		463		(281)		896
Provision (benefit) for income taxes	150		97		(82)		165
Income attributable to non-controlling interest	—		4		—		4
Net income (loss) attributable to Huntington	$564		$362		$(199)		$727
Three months ended June 30, 2025
Net interest income (loss)	$1,014		$513		$(60)		$1,467
Provision (benefit) for credit losses	138		(35)		—		103
Net interest income (loss) after provision for credit losses	876		548		(60)		1,364
Noninterest income	339		177		(45)		471
Noninterest expense:
Direct personnel costs	305		149		268		722
Other noninterest expense, including corporate allocations	535		168		(228)		475
Total noninterest expense	840		317		40		1,197
Income (loss) before income taxes	375		408		(145)		638
Provision (benefit) for income taxes	78		86		(68)		96
Income attributable to non-controlling interest	—		6		—		6
Net income (loss) attributable to Huntington	$297		$316		$(77)		$536

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	Consumer & Regional Banking		Commercial Banking		Treasury / Other		Huntington Consolidated
(dollar amounts in millions)
Six months ended June 30, 2026
Net interest income (loss)	$2,823		$1,359		$(239)		$3,943
Provision for credit losses	164		125		1		290
Net interest income (loss) after provision for credit losses	2,659		1,234		(240)		3,653
Noninterest income	844		527		96		1,467
Noninterest expense:
Direct personnel costs	789		393		820		2,002
Other noninterest expense, including corporate allocations	1,435		462		(316)		1,581
Total noninterest expense	2,224		855		504		3,583
Income (loss) before income taxes	1,279		906		(648)		1,537
Provision (benefit) for income taxes	269		190		(180)		279
Income attributable to non-controlling interest	—		8		—		8
Net income (loss) attributable to Huntington	$1,010		$708		$(468)		$1,250
Six months ended June 30, 2025
Net interest income (loss)	$1,957		$1,026		$(90)		$2,893
Provision for credit losses	185		33		—		218
Net interest income (loss) after provision for credit losses	1,772		993		(90)		2,675
Noninterest income	666		339		(40)		965
Noninterest expense:
Direct personnel costs	599		288		506		1,393
Other noninterest expense, including corporate allocations	1,060		332		(436)		956
Total noninterest expense	1,659		620		70		2,349
Income (loss) before income taxes	779		712		(200)		1,291
Provision (benefit) for income taxes	163		150		(95)		218
Income attributable to non-controlling interest	—		10		—		10
Net income (loss) attributable to Huntington	$616		$552		$(105)		$1,063

	Assets				Deposits
(dollar amounts in millions)	At June 30, 2026		At December 31, 2025		At June 30, 2026		At December 31, 2025
Consumer & Regional Banking	$116,050		$87,307		$150,687		$117,188
Commercial Banking	98,134		79,798		62,713		50,657
Treasury / Other	69,800		58,001		9,066		8,765
Total	$283,984		$225,106		$222,466		$176,610

2026 2Q Form 10-Q 94

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