FAIR VALUES OF ASSETS AND LIABILITIES

9 Months Ended

Sep. 30, 2026

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 nine-month periods ended

September 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	Netting Adjustments (1)	Total
At September 30, 2026
Assets
Trading account assets	$42	$303	$—	$—	$345
Available-for-sale securities:
U.S. Treasury	8,454	—	—	—	8,454
Residential MBS	—	12,116	—	—	12,116
Residential CMO	—	6,189	—	—	6,189
Commercial MBS	—	2,525	—	—	2,525
Other agencies	—	449	—	—	449
Municipal securities	—	80	4,387	—	4,467
Corporate debt	—	164	—	—	164
Asset-backed securities	—	133	28	—	161
Private-label CMO	—	68	20	—	88
Other securities/sovereign debt	—	10	—	—	10
Total available-for-sale securities	8,454	21,734	4,435	—	34,623
Other securities	28	34	—	—	62
Loans held for sale	—	1,154	—	—	1,154
Loans held for investment	—	101	65	—	166
MSRs	—	—	837	—	837
Other assets:
Derivative assets	—	1,239	5	(746)	498
Assets held in trust for deferred compensation plans	234	—	—	—	234
Liabilities
Short-term borrowings	293	51	—	—	344
Long-term debt	—	1,561	—	—	1,561
Derivative liabilities	—	1,592	5	(337)	1,260

(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.


	Fair Value Measurements at Reporting Date Using			Netting Adjustments (1)	Total
(dollar amounts in millions)	Level 1	Level 2	Level 3	Netting Adjustments (1)	Total
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.


	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	Loans held for investment
Three months ended September 30, 2026
Opening balance	$752	$9	$4,565	$20	$43	$62
Transfers into Level 3	—	—	—	—	—	5
Transfers out of Level 3 (1)	—	(11)	—	—	—	—
Total gains (losses) for the period:
Included in earnings:
Interest and fee income	—	—	—	—	—	(1)
Mortgage banking income	72	2	—	—	—	—
Other noninterest income	—	(1)	—	—	—	—
Included in OCI	—	—	(84)	—	—	—
Purchases/originations	35	—	275	—	—	—
Repayments	—	—	—	—	—	(1)
Settlements	(22)	1	(369)	—	(15)	—
Closing balance	$837	$—	$4,387	$20	$28	$65
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$72	$(10)	$—	$—	$—	$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—	—	(88)	—	—	—
Three months ended September 30, 2025
Opening balance	$567	$7	$4,067	$21	$38	$62
Transfers into Level 3	—	—	—	—	—	3
Transfers out of Level 3 (1)	—	(14)	—	—	—	—
Total gains (losses) for the period:
Included in earnings:
Mortgage banking income	(1)	12	—	—	—	—
Other noninterest income	—	(4)	—	—	—	—
Included in OCI	—	—	35	—	—	—
Purchases/originations	27	—	160	—	—	—
Repayments	—	—	—	—	—	(2)
Settlements	(17)	2	(172)	2	—	—
Closing balance	$576	$3	$4,090	$23	$38	$63
Change in unrealized gains (losses) for the period included in earnings for assets held at end of the reporting date	$(1)	$(1)	$—	$—	$—	$—
Change in unrealized gains (losses) for the period included in other comprehensive income for assets held at the end of the reporting period	—	—	34	—	—	—

(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.

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 September 30, 2026
Assets
Loans held for sale	$1,154	$1,168	$(14)	$—	$—	$—
Loans held for investment	166	179	(13)	6	7	(1)
Liabilities
Long-term debt	1,561	1,582	21
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		Nine Months Ended
(dollar amounts in millions)	Classification	September 30, 2026	September 30, 2025	September 30, 2026	September 30, 2025
Loans held for sale	Mortgage banking income	$(48)	$1	$(44)	$16
Loans held for investment	Mortgage banking income	(1)	—	(1)	(1)
Long-term debt	Other noninterest income	13	—	31	(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		Nine Months Ended
(dollar amounts in millions)	At September 30, 2026	At December 31, 2025	September 30, 2026	September 30, 2025	September 30, 2026	September 30, 2025
Collateral-dependent loans	$39	$74	$(39)	$(14)	$(128)	$(57)

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.

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 September 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	6%	-	22%	7%	6%	-	61%	8%
		Spread over forward interest rate swap rates	5%	-	11%	5%	5%	-	11%	5%
Municipal securities	Discounted cash flow	Discount rate	4%	-	6%	5%	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.

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 September 30, 2026
Financial Assets
Cash and short-term assets	$17,396	$—	$—	$17,396	$17,396
Trading account assets	—	—	345	345	345
Available-for-sale securities	—	—	34,623	34,623	34,623
Held-to-maturity securities	14,733	—	—	14,733	12,466
Other securities	1,371	—	62	1,433	1,433
Loans held for sale	—	413	1,154	1,567	1,567
Net loans and leases (1)	188,061	—	166	188,227	184,671
Derivative assets	—	—	498	498	498
Assets held in trust for deferred compensation plans	—	—	234	234	234
Financial Liabilities
Deposits (2)	224,678	—	—	224,678	224,651
Short-term borrowings	5,722	—	344	6,066	6,066
Long-term debt	15,780	—	1,561	17,341	17,378
Derivative liabilities	—	—	1,260	1,260	1,260
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 $3.5 billion and $2.1 billion in time deposits in excess of the FDIC insurance coverage limit at September 30, 2026 and December 31, 2025,

respectively.

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)	Estimated Fair Value
At September 30, 2026
Financial Assets
Trading account assets	$42	$303	$—	$—	$345
Available-for-sale securities	8,454	21,734	4,435	—	34,623
Held-to-maturity securities	2,340	10,126	—	—	12,466
Other securities (2)	28	34	—	—	62
Loans held for sale	—	1,154	413	—	1,567
Net loans and leases	—	101	184,570	—	184,671
Derivative assets	—	1,239	5	(746)	498
Financial Liabilities
Deposits	—	202,221	22,430	—	224,651
Short-term borrowings	293	5,773	—	—	6,066
Long-term debt	—	13,589	3,789	—	17,378
Derivative liabilities	—	1,592	5	(337)	1,260
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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details