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Huntington Bancshares

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FY2020 Annual Report · Huntington Bancshares
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Huntington Bancshares Incorporated

Huntington Center  |  41 South High Street, Columbus, Ohio 43287
800-480-2265  |  huntington.com

huntington bancshares incorporated
2020 annual report

The Huntington National Bank, Member FDIC. ⬢®, Huntington® and ⬢ Huntington® are federally registered service marks of Huntington 
Bancshares Incorporated. © 2021 Huntington Bancshares Incorporated.

 
 
 
 
 
 
 
CONSOLIDATED	FINANCIAL	HIGHLIGHTS

(In	millions,	except	per	share	amounts)

2020

2019

Change
Amount

Change
Percent

817	

$	

1,411	

$	

(594)	

	(42)	%

0.69	
0.60	
8.51	

$	

1.27	
0.58	
8.25	

$	

(0.58)	
0.02	
0.26	

	(46)	%
	3	%
	3	%

NET	INCOME

PER	COMMON	SHARE	AMOUNTS
Net	income	(loss)	per	common	share	-	diluted
Cash	dividend	declared	per	common	share
Tangible	book	value	per	common	share	(1)(4)
PERFORMANCE	RATIOS
Return	on	average	total	assets
Return	on	average	tangible	common	shareholders’	equity
Net	interest	margin	(2)
Efficiency	ratio	(3)
CAPITAL	RATIOS
Tangible	common	equity/tangible	asset	ratio	(1)	(4)	(5)
CET	1	risk-based	capital	ratio	(1)
Tier	1	risk-based	capital	ratio	(1)
Total	risk-based	capital	ratio	(1)
CREDIT	QUALITY	MEASURES
Net	charge-offs	(NCOs)
NCOs	as	a	%	of	average	loans	and	leases
Non-accrual	loans	(NALs)	(1)
NAL	ratio	(1)	(6)
Non-performing	assets	(NPAs)	(1)
NPA	ratio	(1)	(7)
Allowance	for	loan	and	lease	losses	(ALLL)	(1)
ALLL	as	a	%	of	total	loans	and	leases	(1)
ALLL	as	a	%	of	NALs	(1)
Allowance	for	credit	losses	(ACL)	(1)
ACL	as	a	%	of	total	loans	and	leases	(1)
ACL	as	a	%	of	NALs	(1)
BALANCE	SHEET	-	DECEMBER	31,
Total	loans	and	leases
Total	assets
Total	deposits
Total	shareholders’	equity

$	

$	

$	

$	

$	

$	

$	

	0.70	%
	8.9	
	2.99	
	56.9	

	7.16	%

	10.00	
	12.47	
	14.46	

449	
	0.57	%
532	
	0.65	%
563	
	0.69	%
1,814	
	2.22	%
	341	
1,866	
	2.29	%
	351	

	1.31	%
	16.9	
	3.26	
	56.6	

	7.88	%
	9.88	
	11.26	
	13.04	

265	
	0.35	%
468	
	0.62	%
498	
	0.66	%
783	
	1.04	%
	167	
887	
	1.18	%
	190	

$	

$	

$	

$	

$	

$	 81,608	
	 123,038	
98,948	
12,993	

$	 75,404	
	 109,002	
82,347	
11,795	

$	

$	

$	

184	
	0.22	%
64	
	0.03	%
65	
	0.03	%

	69	%

	14	%

	13	%

$	

1,031	

	132	%

$	

$	

	1.18	%
	174	
979	
	1.11	%
	161	

6,204	
14,036	
16,601	
1,198	

	110	%

	8	%
	13	%
	20	%
	10	%

(1)

(2)

(3)

(4)

(5)

(6)

(7)

At	December	31.
On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.
Noninterest	 expense	 less	 amortization	 of	 intangibles	 and	 goodwill	 impairment	 divided	 by	 the	 sum	 of	 FTE	 net	 interest	 income	 and	 noninterest	 income	
excluding	securities	gains	(losses).
Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.	Additionally,	any	ratios	utilizing	these	financial	measures	
are	also	non-GAAP.	These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	
condition	and	capital	strength.	Other	companies	may	calculate	these	financial	measures	differently.
Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	
Other	intangible	assets	are	net	of	deferred	tax	and	calculated	at	a	21%	tax	rate.
NALs	divided	by	total	loans	and	leases.
NPAs	divided	by	the	sum	of	total	loans	and	leases	and	other	real	estate	owned.

CONTACT	AND	OTHER	INFORMATION

SHAREHOLDER	CONTACTS
Registered	 shareholders	 (holders	 of	 record	 with	 the	 company)	 requesting	 information	 about	 share	 balances,	 change	 of	
name	or	address,	lost	certificates,	or	other	shareholder	account	matters	should	contact	Huntington’s	transfer	agent:

Computershare	Investor	Services
Attn:		Shareholder	Services
P.O.	Box	50500
Louisville,	KY	40233-5000
(800)	725-0674

www.computershare.com/hban

Beneficial	shareholders	(owners	of	shares	held	in	a	bank	or	brokerage	account):		When	you	purchase	stock	and	it	is	held	
for	you	by	your	broker,	it	is	listed	with	the	company	in	the	broker’s	name,	and	this	is	sometimes	referred	to	as	holding	
shares	in	“street	name.”	Huntington	does	not	know	the	identity	of	individual	shareholders	who	hold	their	shares	in	this	
manner;	we	simply	know	that	a	broker	holds	a	certain	number	of	shares	which	may	be	for	any	number	of	customers.	If	
you	hold	your	stock	in	street	name,	you	receive	all	dividend	payments,	annual	reports,	and	proxy	materials	through	your	
broker.	Therefore,	questions	about	your	account	should	be	directed	to	your	broker.

DIRECT	STOCK	PURCHASE	AND	DIVIDEND	REINVESTMENT	PLAN
Computershare	Investment	Plan	(CIP)	is	a	direct	stock	purchase	and	dividend	reinvestment	plan	for	registered	holders	or	
for	those	who	wish	to	become	registered	holders	of	common	stock	of	Huntington.		The	CIP	is	offered	and	administered	by	
Computershare	 Trust	 Company,	 N.A.	 (Computershare),	 and	 not	 by	 Huntington.	 	 Computershare	 is	 the	 registrar	 and	
transfer	agent	for	Huntington	common	stock.		Call	(800)	725-0674	for	information	to	enroll	in	the	CIP.

DIRECT	DEPOSIT	OF	DIVIDENDS	FOR	REGISTERED	SHAREHOLDERS
Automatic	direct	deposit	of	quarterly	dividends	is	offered	to	our	registered	shareholders	and	provides	secure	and	timely	
access	to	their	funds.		For	further	information,	please	call	the	transfer	agent,	Computershare,	at	(800)	725-0674.

SHAREHOLDER	INFORMATION
Common	Stock:
The	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	Nasdaq	under	the	symbol	“HBAN.”	

Information	Requests:
Copies	of	Huntington’s	Annual	Report;	Forms	10-K,	10-Q,	and	8-K;	Financial	Code	of	Ethics;	and	quarterly	earnings	releases	
may	 be	 obtained,	 free	 of	 charge,	 by	 calling	 (614)	 480-5676	 or	 by	 visiting	 the	 Investor	 Relations	 section	 of	 Huntington’s	
website,	www.huntington.com.

ANALYST	AND	INVESTOR	CONTACTS
Analysts	and	investors	seeking	information	about	Huntington	should	contact:

Huntington	Investor	Relations
Huntington	Center,	HC0935
41	South	High	Street
Columbus,	OH	43287

huntington.investor.relations@huntington.com

Retail	Shareholder	Inquiries			(800)	576-5007
All	Other	Investor	Inquiries					(614)	480-5676

	
	
	
	
	
	
	
	
	
	
	
	
	
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2020	Annual	Report					1

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EXECUTIVE	LEADERSHIP	TEAM

Donald	Dennis
Executive	Vice	President,
Chief	Diversity,	Equity,	and
Inclusion	Officer

Paul	Heller
Senior	Executive	Vice	President,
Chief	Technology	and	Operations	
Officer

Andy	Harmening
Senior	Executive	Vice	President,
Consumer	and	Business	Banking	
Director

Helga	Houston
Senior	Executive	Vice	President,
Chief	Risk	Officer

Scott	Kleinman
Senior	Executive	Vice	President,	
Director	of	Commercial	Banking

Jana	Litsey
Senior	Executive	Vice	President,	
General	Counsel

Sandra	Pierce
Senior	Executive	Vice	President,	
Private	Client	Group	&	Regional	
Banking	Director,	and	Chair	of	
Michigan

Stephen	D.	Steinour
Chairman,	President,	and	CEO,
Huntington	Bancshares	Incorporated	
and	The	Huntington	National	Bank

Mark	Thompson
Senior	Executive	Vice	President,	
Director	of	Corporate	Operations

Richard	Pohle
Executive	Vice	President,	
Chief	Credit	Officer

Rajeev	Syal
Senior	Executive	Vice	President,	
Chief	Human	Resources	Officer

Julie	Tutkovics
Executive	Vice	President,
Chief	Marketing	and	Communications	
Officer

Michael	Van	Treese
Executive	Vice	President,	
Chief	Auditor

Zachary	Wasserman
Senior	Executive	Vice	President,	
Chief	Financial	Officer

2020	Annual	Report					9

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UNITED	STATESSECURITIES	AND	EXCHANGE	COMMISSIONWASHINGTON,	D.C.	20549_______________________________________________FORM	10-K	_______________________________________________☒Annual	Report	Pursuant	to	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934For	the	fiscal	year	ended	December	31,	2020	Commission	File	Number	1-34073	_______________________________________________Huntington	Bancshares	Incorporated(Exact	name	of	registrant	as	specified	in	its	charter)_______________________________________________Maryland31-0724920(State	or	other	jurisdiction	of	incorporation	or	organization)(I.R.S.	Employer	Identification	No.)41	South	High	StreetColumbus,Ohio43287(Address	of	principal	executive	offices)(Zip	Code)Registrant’s	telephone	number,	including	area	code	(614)	480-2265	Securities	registered	pursuant	to	Section	12(b)	of	the	Act:Title	of	classTradingSymbol(s)Name	of	exchange	on	which	registeredDepositary	Shares	(each	representing	a	1/40th	interest	in	a	share	of	5.875%	Series	C	Non-Cumulative,	perpetual	preferred	stock)HBANNNASDAQDepositary	Shares	(each	representing	a	1/40th	interest	in	a	share	of	6.250%	Series	D	Non-Cumulative,	perpetual	preferred	stock)HBANONASDAQDepositary	Shares	(each	representing	a	1/40th	interest	in	a	share	of	4.500%	Series	H	Non-Cumulative,	perpetual	preferred	stock)HBANPNASDAQCommon	Stock—Par	Value	$0.01	per	ShareHBANNASDAQIndicate	by	check	mark	if	the	registrant	is	a	well-known	seasoned	issuer,	as	defined	in	Rule	405	of	the	Securities	Exchange	Act.		x				Yes		¨				NoIndicate	by	check	mark	if	the	registrant	is	not	required	to	file	reports	pursuant	to	Section	13	or	15(d)	of	the	Act.		¨				Yes		x				No	Indicate	by	check	mark	whether	the	registrant	(1)	has	filed	all	reports	required	to	be	filed	by	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934	during	the	preceding	12	months	(or	for	such	shorter	period	that	the	registrant	was	required	to	file	such	reports),	and	(2)	has	been	subject	to	such	filing	requirements	for	the	past	90	days.		x				Yes		¨				NoIndicate	by	check	mark	whether	the	registrant	has	submitted	electronically	every	Interactive	Data	File	required	to	be	submitted	pursuant	to	Rule	405	of	Regulation	S-T	(§232.405	of	this	chapter)	during	the	preceding	12	months	(or	for	such	shorter	period	that	the	registrant	was	required	to	submit	such	files).		x				Yes		¨				NoIndicate	by	check	mark	whether	the	registrant	is	a	large	accelerated	filer,	an	accelerated	filer,	a	non-accelerated	filer,	a	smaller	reporting	company,	or	an	emerging	growth	company.	See	the	definitions	of	“large	accelerated	filer”,	“accelerated	filer”,	“smaller	reporting	company”,	and	“emerging	growth	company”	in	Rule	12b-2	
accelerated	filer”,	“accelerated	filer”,	“smaller	reporting	company”,	and	“emerging	growth	company”	in	Rule	12b-2	
of	the	Exchange	Act.
of	the	Exchange	Act.

HUNTINGTON	BANCSHARES	INCORPORATED

HUNTINGTON	BANCSHARES	INCORPORATED

INDEX

INDEX

Large	Accelerated	Filer x
Large	Accelerated	Filer x
Non-accelerated	filer
Non-accelerated	filer

☐
☐

Accelerated	filer
Accelerated	filer

☐
☐

Smaller	reporting	company ☐
Smaller	reporting	company ☐
Emerging	growth	company	 ☐
Emerging	growth	company	 ☐

If	an	emerging	growth	company,	indicate	by	check	mark	if	the	registrant	has	elected	not	to	use	the	extended	
If	an	emerging	growth	company,	indicate	by	check	mark	if	the	registrant	has	elected	not	to	use	the	extended	

Item	1B. Unresolved	Staff	Comments

Item	1B. Unresolved	Staff	Comments

transition	period	for	complying	with	any	new	or	revised	financial	accounting	standards	provided	pursuant	to	Section	
transition	period	for	complying	with	any	new	or	revised	financial	accounting	standards	provided	pursuant	to	Section	
13(a)	of	the	Exchange	Act.	¨
13(a)	of	the	Exchange	Act.	¨

Indicate	by	check	mark	whether	the	registrant	has	filed	a	report	on	and	attestation	to	its	management’s	
Indicate	by	check	mark	whether	the	registrant	has	filed	a	report	on	and	attestation	to	its	management’s	
assessment	of	the	effectiveness	of	its	internal	control	over	financial	reporting	under	Section	404(b)	of	the	Sarbanes-
assessment	of	the	effectiveness	of	its	internal	control	over	financial	reporting	under	Section	404(b)	of	the	Sarbanes-
Oxley	Act	(15	U.S.C.	7262(b))	by	the	registered	public	accounting	firm	that	prepared	or	issued	its	audit	report.	☒	
Oxley	Act	(15	U.S.C.	7262(b))	by	the	registered	public	accounting	firm	that	prepared	or	issued	its	audit	report.	☒	
Indicate	by	check	mark	whether	the	registrant	is	a	shell	company	(as	defined	in	Rule	12b-2	of	the	Act)
Indicate	by	check	mark	whether	the	registrant	is	a	shell	company	(as	defined	in	Rule	12b-2	of	the	Act)

		☐				Yes		x				No	
		☐				Yes		x				No	
The	aggregate	market	value	of	voting	and	non-voting	common	equity	held	by	non-affiliates	of	the	registrant	as	of	
The	aggregate	market	value	of	voting	and	non-voting	common	equity	held	by	non-affiliates	of	the	registrant	as	of	
June	30,	2020,	determined	by	using	a	per	share	closing	price	of	$9.04,	as	quoted	by	Nasdaq	on	that	date,	was	
June	30,	2020,	determined	by	using	a	per	share	closing	price	of	$9.04,	as	quoted	by	Nasdaq	on	that	date,	was	
$9,353,081,984.	As	of	January	31,	2021,	there	were	1,017,194,968	shares	of	common	stock	with	a	par	value	of	$0.01	
$9,353,081,984.	As	of	January	31,	2021,	there	were	1,017,194,968	shares	of	common	stock	with	a	par	value	of	$0.01	
outstanding.
outstanding.

Part	III	of	this	Form	10-K	incorporates	by	reference	certain	information	from	the	registrant’s	definitive	Proxy	
Part	III	of	this	Form	10-K	incorporates	by	reference	certain	information	from	the	registrant’s	definitive	Proxy	
Statement	for	the	2021	Annual	Shareholders’	Meeting.
Statement	for	the	2021	Annual	Shareholders’	Meeting.

Documents	Incorporated	By	Reference
Documents	Incorporated	By	Reference

Item	5. Market	for	Registrant’s	Common	Equity,	Related	Stockholder	Matters	and	Issuer	Purchases	of	Equity	

Item	5. Market	for	Registrant’s	Common	Equity,	Related	Stockholder	Matters	and	Issuer	Purchases	of	Equity	

Item	7. Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

Item	7. Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

Part	I.

Part	I.

Item	1.

Item	1.

Business

Business

Item	1A. Risk	Factors

Item	1A. Risk	Factors

Item	2.

Item	2.

Properties

Properties

Item	3.

Item	3.

Legal	Proceedings

Legal	Proceedings

Item	4. Mine	Safety	Disclosures

Item	4. Mine	Safety	Disclosures

Part	II.

Part	II.

Securities

Securities

Introduction

Introduction

Executive	Overview

Executive	Overview

Discussion	of	Results	of	Operations

Discussion	of	Results	of	Operations

Risk	Management	and	Capital:

Risk	Management	and	Capital:

Credit	Risk

Credit	Risk

Market	Risk

Market	Risk

MSR	and	Price	Risk

MSR	and	Price	Risk

Liquidity	Risk

Liquidity	Risk

Operational	Risk

Operational	Risk

Compliance	Risk

Compliance	Risk

Capital

Capital

Business	Segment	Discussion

Business	Segment	Discussion

Results	for	the	Fourth	Quarter

Results	for	the	Fourth	Quarter

Additional	Disclosures

Additional	Disclosures

Item	7A. Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Item	7A. Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Item	8.

Item	8.

Financial	Statements	and	Supplementary	Data

Financial	Statements	and	Supplementary	Data

Item	9.

Item	9.

Changes	in	and	Disagreements	with	Accountants	on	Accounting	and	Financial	Disclosure

Changes	in	and	Disagreements	with	Accountants	on	Accounting	and	Financial	Disclosure

Item	9A. Controls	and	Procedures

Item	9A. Controls	and	Procedures

Item	9B. Other	Information

Item	9B. Other	Information

Part	III.

Part	III.

Item	10. Directors,	Executive	Officers	and	Corporate	Governance

Item	10. Directors,	Executive	Officers	and	Corporate	Governance

Item	11. Executive	Compensation

Item	11. Executive	Compensation

Item	12. Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	Matters

Item	12. Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	Matters

Item	13. Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Item	13. Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Item	14. Principal	Accounting	Fees	and	Services

Item	14. Principal	Accounting	Fees	and	Services

Item	15. Exhibits	and	Financial	Statement	Schedules

Item	15. Exhibits	and	Financial	Statement	Schedules

Item	16. Form	10-K	Summary

Item	16. Form	10-K	Summary

Part	IV.

Part	IV.

Signatures

Signatures

7

7

25

25

43

43

44

44

44

44

44

44

45

45

47

47

47

47

47

47

51

51

56

56

58

58

74

74

78

78

78

78

83

83

84

84

84

84

87

87

91

91

97

97

101

101

101

101

175

175

175

175

175

175

175

175

175

175

175

175

176

176

176

176

176

176

176

176

of	the	Exchange	Act.

of	the	Exchange	Act.

Large	Accelerated	Filer x

Large	Accelerated	Filer x

Non-accelerated	filer

Non-accelerated	filer

☐

☐

accelerated	filer”,	“accelerated	filer”,	“smaller	reporting	company”,	and	“emerging	growth	company”	in	Rule	12b-2	

accelerated	filer”,	“accelerated	filer”,	“smaller	reporting	company”,	and	“emerging	growth	company”	in	Rule	12b-2	

HUNTINGTON	BANCSHARES	INCORPORATED
HUNTINGTON	BANCSHARES	INCORPORATED
INDEX
INDEX

If	an	emerging	growth	company,	indicate	by	check	mark	if	the	registrant	has	elected	not	to	use	the	extended	

If	an	emerging	growth	company,	indicate	by	check	mark	if	the	registrant	has	elected	not	to	use	the	extended	

Item	1B. Unresolved	Staff	Comments
Item	1B. Unresolved	Staff	Comments

Accelerated	filer

Accelerated	filer

☐

☐

Smaller	reporting	company ☐

Smaller	reporting	company ☐

Emerging	growth	company	 ☐

Emerging	growth	company	 ☐

Part	I.
Part	I.
Item	1.
Item	1.

Business
Business

Item	1A. Risk	Factors
Item	1A. Risk	Factors

transition	period	for	complying	with	any	new	or	revised	financial	accounting	standards	provided	pursuant	to	Section	

transition	period	for	complying	with	any	new	or	revised	financial	accounting	standards	provided	pursuant	to	Section	

13(a)	of	the	Exchange	Act.	¨

13(a)	of	the	Exchange	Act.	¨

Indicate	by	check	mark	whether	the	registrant	has	filed	a	report	on	and	attestation	to	its	management’s	

Indicate	by	check	mark	whether	the	registrant	has	filed	a	report	on	and	attestation	to	its	management’s	

assessment	of	the	effectiveness	of	its	internal	control	over	financial	reporting	under	Section	404(b)	of	the	Sarbanes-

assessment	of	the	effectiveness	of	its	internal	control	over	financial	reporting	under	Section	404(b)	of	the	Sarbanes-

Oxley	Act	(15	U.S.C.	7262(b))	by	the	registered	public	accounting	firm	that	prepared	or	issued	its	audit	report.	☒	

Oxley	Act	(15	U.S.C.	7262(b))	by	the	registered	public	accounting	firm	that	prepared	or	issued	its	audit	report.	☒	

Indicate	by	check	mark	whether	the	registrant	is	a	shell	company	(as	defined	in	Rule	12b-2	of	the	Act)

Indicate	by	check	mark	whether	the	registrant	is	a	shell	company	(as	defined	in	Rule	12b-2	of	the	Act)

		☐				Yes		x				No	

		☐				Yes		x				No	

outstanding.

outstanding.

The	aggregate	market	value	of	voting	and	non-voting	common	equity	held	by	non-affiliates	of	the	registrant	as	of	

The	aggregate	market	value	of	voting	and	non-voting	common	equity	held	by	non-affiliates	of	the	registrant	as	of	

June	30,	2020,	determined	by	using	a	per	share	closing	price	of	$9.04,	as	quoted	by	Nasdaq	on	that	date,	was	

June	30,	2020,	determined	by	using	a	per	share	closing	price	of	$9.04,	as	quoted	by	Nasdaq	on	that	date,	was	

$9,353,081,984.	As	of	January	31,	2021,	there	were	1,017,194,968	shares	of	common	stock	with	a	par	value	of	$0.01	

$9,353,081,984.	As	of	January	31,	2021,	there	were	1,017,194,968	shares	of	common	stock	with	a	par	value	of	$0.01	

Part	III	of	this	Form	10-K	incorporates	by	reference	certain	information	from	the	registrant’s	definitive	Proxy	

Part	III	of	this	Form	10-K	incorporates	by	reference	certain	information	from	the	registrant’s	definitive	Proxy	

Statement	for	the	2021	Annual	Shareholders’	Meeting.

Statement	for	the	2021	Annual	Shareholders’	Meeting.

Documents	Incorporated	By	Reference

Documents	Incorporated	By	Reference

Item	2.
Item	2.

Properties
Properties

Item	3.
Item	3.

Legal	Proceedings
Legal	Proceedings

Item	4. Mine	Safety	Disclosures
Item	4. Mine	Safety	Disclosures

Part	II.
Part	II.
Item	5. Market	for	Registrant’s	Common	Equity,	Related	Stockholder	Matters	and	Issuer	Purchases	of	Equity	
Item	5. Market	for	Registrant’s	Common	Equity,	Related	Stockholder	Matters	and	Issuer	Purchases	of	Equity	

Securities
Securities

Item	7. Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations
Item	7. Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

Introduction
Introduction

Executive	Overview
Executive	Overview

Discussion	of	Results	of	Operations
Discussion	of	Results	of	Operations

Risk	Management	and	Capital:
Risk	Management	and	Capital:

Credit	Risk
Credit	Risk

Market	Risk
Market	Risk

MSR	and	Price	Risk
MSR	and	Price	Risk

Liquidity	Risk
Liquidity	Risk

Operational	Risk
Operational	Risk

Compliance	Risk
Compliance	Risk

Capital
Capital

Business	Segment	Discussion
Business	Segment	Discussion

Results	for	the	Fourth	Quarter
Results	for	the	Fourth	Quarter

Additional	Disclosures
Additional	Disclosures

Item	7A. Quantitative	and	Qualitative	Disclosures	About	Market	Risk
Item	7A. Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Item	8.
Item	8.

Financial	Statements	and	Supplementary	Data
Financial	Statements	and	Supplementary	Data

Item	9.
Item	9.

Changes	in	and	Disagreements	with	Accountants	on	Accounting	and	Financial	Disclosure
Changes	in	and	Disagreements	with	Accountants	on	Accounting	and	Financial	Disclosure

Item	9A. Controls	and	Procedures
Item	9A. Controls	and	Procedures

Item	9B. Other	Information
Item	9B. Other	Information

Part	III.
Part	III.
Item	10. Directors,	Executive	Officers	and	Corporate	Governance
Item	10. Directors,	Executive	Officers	and	Corporate	Governance

Item	11. Executive	Compensation
Item	11. Executive	Compensation

Item	12. Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	Matters
Item	12. Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	Matters

Item	13. Certain	Relationships	and	Related	Transactions,	and	Director	Independence
Item	13. Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Item	14. Principal	Accounting	Fees	and	Services
Item	14. Principal	Accounting	Fees	and	Services

Part	IV.
Part	IV.
Item	15. Exhibits	and	Financial	Statement	Schedules
Item	15. Exhibits	and	Financial	Statement	Schedules

Item	16. Form	10-K	Summary
Item	16. Form	10-K	Summary

Signatures
Signatures

7
7

25
25

43
43

44
44

44
44

44
44

45
45

47
47

47
47

47
47

51
51

56
56

58
58

74
74

78
78

78
78

83
83

84
84

84
84

87
87

91
91

97
97

101
101

101
101

175
175

175
175

175
175

175
175

175
175

175
175

176
176

176
176

176
176

176
176

The	following	listing	provides	a	comprehensive	reference	of	common	acronyms	and	terms	used	throughout	the	
The	following	listing	provides	a	comprehensive	reference	of	common	acronyms	and	terms	used	throughout	the	

Glossary	of	Acronyms	and	Terms
Glossary	of	Acronyms	and	Terms

Financial	Crimes	Enforcement	Network

Financial	Crimes	Enforcement	Network

Financial	Industry	Regulatory	Authority,	Inc.

Financial	Industry	Regulatory	Authority,	Inc.

document:
document:

ACL
ACL

AFS
AFS

ALCO
ALCO

ALLL
ALLL

AML
AML

ANPR
ANPR

AOCI
AOCI

ASC
ASC

ATM
ATM

AULC
AULC

Allowance	for	Credit	Losses
Allowance	for	Credit	Losses

Available-for-Sale
Available-for-Sale

Asset-Liability	Management	Committee
Asset-Liability	Management	Committee

Allowance	for	Loan	and	Lease	Losses
Allowance	for	Loan	and	Lease	Losses

Anti-Money	Laundering
Anti-Money	Laundering

Advance	Notice	of	Proposed	Rulemaking
Advance	Notice	of	Proposed	Rulemaking
Accumulated	Other	Comprehensive	Income
Accumulated	Other	Comprehensive	Income

Accounting	Standards	Codification
Accounting	Standards	Codification

Automated	Teller	Machine
Automated	Teller	Machine

Allowance	for	Unfunded	Loan	Commitments
Allowance	for	Unfunded	Loan	Commitments

Bank	Secrecy	Act
Bank	Secrecy	Act

Financial	Recordkeeping	and	Reporting	of	Currency	and	Foreign	Transactions	Act	of	1970
Financial	Recordkeeping	and	Reporting	of	Currency	and	Foreign	Transactions	Act	of	1970

Basel	III
Basel	III

BHC
BHC

BHC	Act
BHC	Act

CARES	Act
CARES	Act

C&I
C&I

CCAR
CCAR

CCPA
CCPA

CDs
CDs

CECL
CECL

CET1
CET1

CFPB
CFPB

CISA
CISA

CMO
CMO

Refers	to	the	final	rule	issued	by	the	FRB	and	OCC	and	published	in	the	Federal	Register	on	October	11,	
Refers	to	the	final	rule	issued	by	the	FRB	and	OCC	and	published	in	the	Federal	Register	on	October	11,	
2013
2013

LFI	Rating	System

LFI	Rating	System

Large	Financial	Institution	Rating	System

Large	Financial	Institution	Rating	System

Bank	Holding	Company
Bank	Holding	Company

Bank	Holding	Company	Act	of	1956
Bank	Holding	Company	Act	of	1956
Coronavirus	Aid,	Relief,	and	Economic	Security	Act,	as	amended
Coronavirus	Aid,	Relief,	and	Economic	Security	Act,	as	amended

Commercial	and	Industrial
Commercial	and	Industrial

Comprehensive	Capital	Analysis	and	Review
Comprehensive	Capital	Analysis	and	Review

California	Consumer	Privacy	Act	of	2018
California	Consumer	Privacy	Act	of	2018

Certificates	of	Deposit
Certificates	of	Deposit

Current	Expected	Credit	Losses
Current	Expected	Credit	Losses

Common	equity	tier	1	on	a	transitional	Basel	III	basis
Common	equity	tier	1	on	a	transitional	Basel	III	basis

Bureau	of	Consumer	Financial	Protection
Bureau	of	Consumer	Financial	Protection

Cybersecurity	Information	Sharing	Act
Cybersecurity	Information	Sharing	Act
Collateralized	Mortgage	Obligations
Collateralized	Mortgage	Obligations

COVID-19
COVID-19

Coronavirus	Disease	2019
Coronavirus	Disease	2019

CRA
CRA

CRE
CRE

DIF
DIF

Community	Reinvestment	Act
Community	Reinvestment	Act
Commercial	Real	Estate
Commercial	Real	Estate

Deposit	Insurance	Fund
Deposit	Insurance	Fund

Dodd-Frank	Act
Dodd-Frank	Act

Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act
Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act

EAD
EAD

Exposure	at	Default
Exposure	at	Default

Economic	Growth	Act Economic	Growth,	Regulatory	Relief	and	Consumer	Protection	Act
Economic	Growth	Act Economic	Growth,	Regulatory	Relief	and	Consumer	Protection	Act

EPS
EPS

EVE
EVE

FASB
FASB

FCRA
FCRA

FDIA
FDIA

FDIC
FDIC

Earnings	Per	Share
Earnings	Per	Share

Economic	Value	of	Equity
Economic	Value	of	Equity

Financial	Accounting	Standards	Board
Financial	Accounting	Standards	Board

Fair	Credit	Reporting	Act
Fair	Credit	Reporting	Act

Federal	Deposit	Insurance	Act
Federal	Deposit	Insurance	Act

Federal	Deposit	Insurance	Corporation
Federal	Deposit	Insurance	Corporation

Federal	Reserve
Federal	Reserve

Board	of	Governors	of	the	Federal	Reserve	System
Board	of	Governors	of	the	Federal	Reserve	System

FHC
FHC

FHFA
FHFA

FHLB
FHLB

FICO
FICO

Financial	Holding	Company
Financial	Holding	Company

Federal	Housing	Finance	Agency
Federal	Housing	Finance	Agency

Federal	Home	Loan	Bank	of	Cincinnati
Federal	Home	Loan	Bank	of	Cincinnati

Fair	Isaac	Corporation
Fair	Isaac	Corporation

Generally	Accepted	Accounting	Principles	in	the	United	States	of	America

Generally	Accepted	Accounting	Principles	in	the	United	States	of	America

Last-of-Layer

Last-of-Layer

Last-of-layer	is	a	fair	value	hedge	of	the	interest	rate	risk	of	a	portfolio	of	similar	prepayable	assets	

Last-of-layer	is	a	fair	value	hedge	of	the	interest	rate	risk	of	a	portfolio	of	similar	prepayable	assets	

whereby	the	last	dollar	amount	within	the	portfolio	of	assets	is	identified	as	the	hedged	item

whereby	the	last	dollar	amount	within	the	portfolio	of	assets	is	identified	as	the	hedged	item

Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

FinCEN

FinCEN

FINRA

FINRA

FRB

FRB

FRG

FRG

FTE

FTE

FTP

FTP

FVO	

FVO	

GAAP

GAAP

GLBA

GLBA

GSE

GSE

HMDA

HMDA

HTM

HTM

IRS

IRS

LCR

LCR

LGD

LGD

LIBOR

LIBOR

LIHTC

LIHTC

LTV

LTV

MBS

MBS

MD&A

MD&A

MSA

MSA

MSR

MSR

NAICS

NAICS

NALs

NALs

NCO

NCO

NII

NII

NIM

NIM

NOW

NOW

NPAs

NPAs

NSF

NSF

OCC

OCC

OCI

OCI

OCR

OCR

OFAC

OFAC

OIS

OIS

OLEM

OLEM

OREO

OREO

PCD

PCD

PD

PD

Plan

Plan

PPP

PPP

PPPLF

PPPLF

Federal	Reserve	Bank

Federal	Reserve	Bank

Financial	Recovery	Group

Financial	Recovery	Group

Fully-Taxable	Equivalent

Fully-Taxable	Equivalent

Funds	Transfer	Pricing

Funds	Transfer	Pricing

Fair	Value	Option

Fair	Value	Option

Gramm-Leach-Bliley	Act

Gramm-Leach-Bliley	Act

Government	Sponsored	Enterprise

Government	Sponsored	Enterprise

Home	Mortgage	Disclosure	Act

Home	Mortgage	Disclosure	Act

Held-to-Maturity

Held-to-Maturity

Internal	Revenue	Service

Internal	Revenue	Service

Liquidity	Coverage	Ratio

Liquidity	Coverage	Ratio

Loss	Given	Default

Loss	Given	Default

London	Interbank	Offered	Rate

London	Interbank	Offered	Rate

Low	Income	Housing	Tax	Credit

Low	Income	Housing	Tax	Credit

Loan-to-Value

Loan-to-Value

Mortgage-Backed	Securities

Mortgage-Backed	Securities

Metropolitan	Statistical	Area

Metropolitan	Statistical	Area

Mortgage	Servicing	Right

Mortgage	Servicing	Right

North	American	Industry	Classification	System

North	American	Industry	Classification	System

Nonaccrual	Loans

Nonaccrual	Loans

Net	Charge-off

Net	Charge-off

Noninterest	Income

Noninterest	Income

Net	Interest	Margin

Net	Interest	Margin

Negotiable	Order	of	Withdrawal

Negotiable	Order	of	Withdrawal

Nonperforming	Assets

Nonperforming	Assets

Non-Sufficient	Funds

Non-Sufficient	Funds

Office	of	the	Comptroller	of	the	Currency

Office	of	the	Comptroller	of	the	Currency

Other	Comprehensive	Income	(Loss)

Other	Comprehensive	Income	(Loss)

Optimal	Customer	Relationship

Optimal	Customer	Relationship

Office	of	Foreign	Assets	Control

Office	of	Foreign	Assets	Control

Overnight	Indexed	Swaps

Overnight	Indexed	Swaps

Other	Loans	Especially	Mentioned

Other	Loans	Especially	Mentioned

Other	Real	Estate	Owned

Other	Real	Estate	Owned

Purchased	financial	assets	with	credit	deterioration

Purchased	financial	assets	with	credit	deterioration

Terrorism	Act	of	2001

Terrorism	Act	of	2001

Probability	of	Default

Probability	of	Default

Huntington	Bancshares	Retirement	Plan

Huntington	Bancshares	Retirement	Plan

Paycheck	Protection	Program

Paycheck	Protection	Program

Paycheck	Protection	Program	Liquidity	Facility

Paycheck	Protection	Program	Liquidity	Facility

Patriot	Act

Patriot	Act

Uniting	and	Strengthening	America	by	Providing	Appropriate	Tools	Required	to	Intercept	and	Obstruct	

Uniting	and	Strengthening	America	by	Providing	Appropriate	Tools	Required	to	Intercept	and	Obstruct	

4					Huntington	Bancshares	Incorporated
4					Huntington	Bancshares	Incorporated

2020	Form	10-K					5

2020	Form	10-K					5

The	following	listing	provides	a	comprehensive	reference	of	common	acronyms	and	terms	used	throughout	the	

The	following	listing	provides	a	comprehensive	reference	of	common	acronyms	and	terms	used	throughout	the	

document:

document:

Glossary	of	Acronyms	and	Terms

Glossary	of	Acronyms	and	Terms

Allowance	for	Credit	Losses

Allowance	for	Credit	Losses

Available-for-Sale

Available-for-Sale

Asset-Liability	Management	Committee

Asset-Liability	Management	Committee

Allowance	for	Loan	and	Lease	Losses

Allowance	for	Loan	and	Lease	Losses

Anti-Money	Laundering

Anti-Money	Laundering

Advance	Notice	of	Proposed	Rulemaking

Advance	Notice	of	Proposed	Rulemaking

Accumulated	Other	Comprehensive	Income

Accumulated	Other	Comprehensive	Income

Accounting	Standards	Codification

Accounting	Standards	Codification

Automated	Teller	Machine

Automated	Teller	Machine

Allowance	for	Unfunded	Loan	Commitments

Allowance	for	Unfunded	Loan	Commitments

Bank	Secrecy	Act

Bank	Secrecy	Act

Financial	Recordkeeping	and	Reporting	of	Currency	and	Foreign	Transactions	Act	of	1970

Financial	Recordkeeping	and	Reporting	of	Currency	and	Foreign	Transactions	Act	of	1970

BHC

BHC

BHC	Act

BHC	Act

CARES	Act

CARES	Act

2013

2013

Bank	Holding	Company

Bank	Holding	Company

Bank	Holding	Company	Act	of	1956

Bank	Holding	Company	Act	of	1956

Coronavirus	Aid,	Relief,	and	Economic	Security	Act,	as	amended

Coronavirus	Aid,	Relief,	and	Economic	Security	Act,	as	amended

Commercial	and	Industrial

Commercial	and	Industrial

Comprehensive	Capital	Analysis	and	Review

Comprehensive	Capital	Analysis	and	Review

California	Consumer	Privacy	Act	of	2018

California	Consumer	Privacy	Act	of	2018

Certificates	of	Deposit

Certificates	of	Deposit

Current	Expected	Credit	Losses

Current	Expected	Credit	Losses

Common	equity	tier	1	on	a	transitional	Basel	III	basis

Common	equity	tier	1	on	a	transitional	Basel	III	basis

Bureau	of	Consumer	Financial	Protection

Bureau	of	Consumer	Financial	Protection

Cybersecurity	Information	Sharing	Act

Cybersecurity	Information	Sharing	Act

Collateralized	Mortgage	Obligations

Collateralized	Mortgage	Obligations

COVID-19

COVID-19

Coronavirus	Disease	2019

Coronavirus	Disease	2019

Dodd-Frank	Act

Dodd-Frank	Act

Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act

Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act

Economic	Growth	Act Economic	Growth,	Regulatory	Relief	and	Consumer	Protection	Act

Economic	Growth	Act Economic	Growth,	Regulatory	Relief	and	Consumer	Protection	Act

Community	Reinvestment	Act

Community	Reinvestment	Act

Commercial	Real	Estate

Commercial	Real	Estate

Deposit	Insurance	Fund

Deposit	Insurance	Fund

Exposure	at	Default

Exposure	at	Default

Earnings	Per	Share

Earnings	Per	Share

Economic	Value	of	Equity

Economic	Value	of	Equity

Financial	Accounting	Standards	Board

Financial	Accounting	Standards	Board

Fair	Credit	Reporting	Act

Fair	Credit	Reporting	Act

Federal	Deposit	Insurance	Act

Federal	Deposit	Insurance	Act

Federal	Deposit	Insurance	Corporation

Federal	Deposit	Insurance	Corporation

Financial	Holding	Company

Financial	Holding	Company

Federal	Housing	Finance	Agency

Federal	Housing	Finance	Agency

Federal	Home	Loan	Bank	of	Cincinnati

Federal	Home	Loan	Bank	of	Cincinnati

Fair	Isaac	Corporation

Fair	Isaac	Corporation

Federal	Reserve

Federal	Reserve

Board	of	Governors	of	the	Federal	Reserve	System

Board	of	Governors	of	the	Federal	Reserve	System

ACL

ACL

AFS

AFS

ALCO

ALCO

ALLL

ALLL

AML

AML

ANPR

ANPR

AOCI

AOCI

ASC

ASC

ATM

ATM

AULC

AULC

C&I

C&I

CCAR

CCAR

CCPA

CCPA

CDs

CDs

CECL

CECL

CET1

CET1

CFPB

CFPB

CISA

CISA

CMO

CMO

CRA

CRA

CRE

CRE

DIF

DIF

EAD

EAD

EPS

EPS

EVE

EVE

FASB

FASB

FCRA

FCRA

FDIA

FDIA

FDIC

FDIC

FHC

FHC

FHFA

FHFA

FHLB

FHLB

FICO

FICO

FinCEN
FinCEN

FINRA
FINRA

FRB
FRB

FRG
FRG

FTE
FTE

FTP
FTP

FVO	
FVO	

GAAP
GAAP

GLBA
GLBA

GSE
GSE

HMDA
HMDA

HTM
HTM

IRS
IRS

Last-of-Layer
Last-of-Layer

Basel	III

Basel	III

Refers	to	the	final	rule	issued	by	the	FRB	and	OCC	and	published	in	the	Federal	Register	on	October	11,	

Refers	to	the	final	rule	issued	by	the	FRB	and	OCC	and	published	in	the	Federal	Register	on	October	11,	

LCR
LCR

Financial	Crimes	Enforcement	Network
Financial	Crimes	Enforcement	Network

Financial	Industry	Regulatory	Authority,	Inc.
Financial	Industry	Regulatory	Authority,	Inc.

Federal	Reserve	Bank
Federal	Reserve	Bank

Financial	Recovery	Group
Financial	Recovery	Group

Fully-Taxable	Equivalent
Fully-Taxable	Equivalent

Funds	Transfer	Pricing
Funds	Transfer	Pricing

Fair	Value	Option
Fair	Value	Option

Generally	Accepted	Accounting	Principles	in	the	United	States	of	America
Generally	Accepted	Accounting	Principles	in	the	United	States	of	America

Gramm-Leach-Bliley	Act
Gramm-Leach-Bliley	Act

Government	Sponsored	Enterprise
Government	Sponsored	Enterprise

Home	Mortgage	Disclosure	Act
Home	Mortgage	Disclosure	Act

Held-to-Maturity
Held-to-Maturity

Internal	Revenue	Service
Internal	Revenue	Service

Last-of-layer	is	a	fair	value	hedge	of	the	interest	rate	risk	of	a	portfolio	of	similar	prepayable	assets	
Last-of-layer	is	a	fair	value	hedge	of	the	interest	rate	risk	of	a	portfolio	of	similar	prepayable	assets	
whereby	the	last	dollar	amount	within	the	portfolio	of	assets	is	identified	as	the	hedged	item
whereby	the	last	dollar	amount	within	the	portfolio	of	assets	is	identified	as	the	hedged	item
Liquidity	Coverage	Ratio
Liquidity	Coverage	Ratio

LFI	Rating	System
LFI	Rating	System

Large	Financial	Institution	Rating	System
Large	Financial	Institution	Rating	System

LGD
LGD
LIBOR
LIBOR

LIHTC
LIHTC

LTV
LTV

MBS
MBS

MD&A
MD&A

MSA
MSA

MSR
MSR

NAICS
NAICS

NALs
NALs

NCO
NCO

NII
NII

NIM
NIM

NOW
NOW

NPAs
NPAs

NSF
NSF

OCC
OCC

OCI
OCI

OCR
OCR
OFAC
OFAC
OIS
OIS
OLEM
OLEM
OREO
OREO
Patriot	Act
Patriot	Act

PCD
PCD
PD
PD
Plan
Plan
PPP
PPP
PPPLF
PPPLF

Loss	Given	Default
Loss	Given	Default
London	Interbank	Offered	Rate
London	Interbank	Offered	Rate

Low	Income	Housing	Tax	Credit
Low	Income	Housing	Tax	Credit

Loan-to-Value
Loan-to-Value

Mortgage-Backed	Securities
Mortgage-Backed	Securities

Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations
Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations

Metropolitan	Statistical	Area
Metropolitan	Statistical	Area

Mortgage	Servicing	Right
Mortgage	Servicing	Right

North	American	Industry	Classification	System
North	American	Industry	Classification	System

Nonaccrual	Loans
Nonaccrual	Loans

Net	Charge-off
Net	Charge-off

Noninterest	Income
Noninterest	Income

Net	Interest	Margin
Net	Interest	Margin

Negotiable	Order	of	Withdrawal
Negotiable	Order	of	Withdrawal

Nonperforming	Assets
Nonperforming	Assets

Non-Sufficient	Funds
Non-Sufficient	Funds

Office	of	the	Comptroller	of	the	Currency
Office	of	the	Comptroller	of	the	Currency

Other	Comprehensive	Income	(Loss)
Other	Comprehensive	Income	(Loss)

Optimal	Customer	Relationship
Optimal	Customer	Relationship
Office	of	Foreign	Assets	Control
Office	of	Foreign	Assets	Control
Overnight	Indexed	Swaps
Overnight	Indexed	Swaps
Other	Loans	Especially	Mentioned
Other	Loans	Especially	Mentioned
Other	Real	Estate	Owned
Other	Real	Estate	Owned
Uniting	and	Strengthening	America	by	Providing	Appropriate	Tools	Required	to	Intercept	and	Obstruct	
Uniting	and	Strengthening	America	by	Providing	Appropriate	Tools	Required	to	Intercept	and	Obstruct	
Terrorism	Act	of	2001
Terrorism	Act	of	2001
Purchased	financial	assets	with	credit	deterioration
Purchased	financial	assets	with	credit	deterioration
Probability	of	Default
Probability	of	Default
Huntington	Bancshares	Retirement	Plan
Huntington	Bancshares	Retirement	Plan
Paycheck	Protection	Program
Paycheck	Protection	Program
Paycheck	Protection	Program	Liquidity	Facility
Paycheck	Protection	Program	Liquidity	Facility

4					Huntington	Bancshares	Incorporated

4					Huntington	Bancshares	Incorporated

2020	Form	10-K					5
2020	Form	10-K					5

Problem	Loans
Problem	Loans

Capital	and	Liquidity	
Capital	and	Liquidity	
Tailoring	Rule
Tailoring	Rule
EPS	Tailoring	Rule
EPS	Tailoring	Rule

Tailoring	Rules
Tailoring	Rules

RBHPCG
RBHPCG

REIT
REIT

Includes	nonaccrual	loans	and	leases,	accruing	loans	and	leases	past	due	90	days	or	more,	troubled	
Includes	nonaccrual	loans	and	leases,	accruing	loans	and	leases	past	due	90	days	or	more,	troubled	
debt	restructured	loans,	and	criticized	commercial	loans
debt	restructured	loans,	and	criticized	commercial	loans
Refers	to	the	changes	to	applicability	thresholds	for	regulatory	and	capital	and	liquidity	requirements,	
Refers	to	the	changes	to	applicability	thresholds	for	regulatory	and	capital	and	liquidity	requirements,	
issued	by	the	OCC,	the	Federal	Reserve	and	the	FDIC
issued	by	the	OCC,	the	Federal	Reserve	and	the	FDIC
Refers	to	Prudential	Standards	for	Large	Bank	Holding	Companies	and	Savings	and	Loan	Holding,	issued	
Refers	to	Prudential	Standards	for	Large	Bank	Holding	Companies	and	Savings	and	Loan	Holding,	issued	
by	the	Federal	Reserve
by	the	Federal	Reserve
Refers	to	the	Capital	and	Liquidity	Tailoring	Rule	and	the	EPS	Tailoring	Rule
Refers	to	the	Capital	and	Liquidity	Tailoring	Rule	and	the	EPS	Tailoring	Rule

Regional	Banking	and	The	Huntington	Private	Client	Group
Regional	Banking	and	The	Huntington	Private	Client	Group

Real	Estate	Investment	Trust
Real	Estate	Investment	Trust

Riegle-Neal	Act
Riegle-Neal	Act

The	Riegle-Neal	Interstate	Banking	and	Branching	Efficiency	Act	of	1994
The	Riegle-Neal	Interstate	Banking	and	Branching	Efficiency	Act	of	1994

ROC
ROC

RWA
RWA

SBA
SBA

SIFMA
SIFMA

SOFR
SOFR

SRIP
SRIP

TCF
TCF

TCJA
TCJA

TDR
TDR

Risk	Oversight	Committee
Risk	Oversight	Committee

Risk-Weighted	Assets
Risk-Weighted	Assets

Small	Business	Administration
Small	Business	Administration

Securities	Industry	and	Financial	Markets	Association
Securities	Industry	and	Financial	Markets	Association

Secured	Overnight	Financing	Rate
Secured	Overnight	Financing	Rate

Supplemental	Retirement	Income	Plan
Supplemental	Retirement	Income	Plan

TCF	Financial	Corporation
TCF	Financial	Corporation

H.R.	1,	Originally	known	as	the	Tax	Cuts	and	Jobs	Act
H.R.	1,	Originally	known	as	the	Tax	Cuts	and	Jobs	Act

Troubled	Debt	Restructuring
Troubled	Debt	Restructuring

U.S.	Treasury
U.S.	Treasury

U.S.	Department	of	the	Treasury
U.S.	Department	of	the	Treasury

UCS
UCS

VIE
VIE

XBRL
XBRL

Uniform	Classification	System
Uniform	Classification	System

Variable	Interest	Entity
Variable	Interest	Entity

eXtensible	Business	Reporting	Language
eXtensible	Business	Reporting	Language

Huntington	Bancshares	Incorporated

Huntington	Bancshares	Incorporated

PART	I

PART	I

When	we	refer	to	“Huntington,”	“we,”	“our,”	“us,”	and	“the	Company”	in	this	report,	we	mean	Huntington	

When	we	refer	to	“Huntington,”	“we,”	“our,”	“us,”	and	“the	Company”	in	this	report,	we	mean	Huntington	

Bancshares	Incorporated	and	our	consolidated	subsidiaries,	unless	the	context	indicates	that	we	refer	only	to	the	

Bancshares	Incorporated	and	our	consolidated	subsidiaries,	unless	the	context	indicates	that	we	refer	only	to	the	

parent	company,	Huntington	Bancshares	Incorporated.		When	we	refer	to	the	“Bank”	in	this	report,	we	mean	our	

parent	company,	Huntington	Bancshares	Incorporated.		When	we	refer	to	the	“Bank”	in	this	report,	we	mean	our	

only	bank	subsidiary,	The	Huntington	National	Bank,	and	its	subsidiaries.

only	bank	subsidiary,	The	Huntington	National	Bank,	and	its	subsidiaries.

Item	1:	Business

Item	1:	Business

We	are	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	

We	are	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	

headquartered	in	Columbus,	Ohio.		We	have	15,578	average	full-time	equivalent	employees.		Through	the	Bank,	we	

headquartered	in	Columbus,	Ohio.		We	have	15,578	average	full-time	equivalent	employees.		Through	the	Bank,	we	

have	over	150	years	of	servicing	the	financial	needs	of	our	customers.		Through	our	subsidiaries,	we	provide	full-

have	over	150	years	of	servicing	the	financial	needs	of	our	customers.		Through	our	subsidiaries,	we	provide	full-

service	commercial	and	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	

service	commercial	and	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	

vehicle	and	marine	financing,	equipment	financing,	investment	management,	trust	services,	brokerage	services,	

vehicle	and	marine	financing,	equipment	financing,	investment	management,	trust	services,	brokerage	services,	

insurance	products	and	services,	and	other	financial	products	and	services.		At	December	31,	2020,	the	Bank	had	11	

insurance	products	and	services,	and	other	financial	products	and	services.		At	December	31,	2020,	the	Bank	had	11	

private	client	group	offices	and	828	branches	located	in	Ohio,	Illinois,	Indiana,	Kentucky,	Michigan,	Pennsylvania,	and	

private	client	group	offices	and	828	branches	located	in	Ohio,	Illinois,	Indiana,	Kentucky,	Michigan,	Pennsylvania,	and	

West	Virginia.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	

West	Virginia.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	

banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.		Our	foreign	banking	activities,	in	

banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.		Our	foreign	banking	activities,	in	

total	or	with	any	individual	country,	are	not	significant.

total	or	with	any	individual	country,	are	not	significant.

Our	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	

Our	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	

monitor	results	and	assess	performance.		For	each	of	our	four	business	segments,	we	expect	the	combination	of	our	

monitor	results	and	assess	performance.		For	each	of	our	four	business	segments,	we	expect	the	combination	of	our	

business	model	and	exceptional	service	to	provide	a	competitive	advantage	that	supports	revenue	and	earnings	

business	model	and	exceptional	service	to	provide	a	competitive	advantage	that	supports	revenue	and	earnings	

growth.		Our	business	model	emphasizes	the	delivery	of	a	complete	set	of	banking	products	and	services	offered	by	

growth.		Our	business	model	emphasizes	the	delivery	of	a	complete	set	of	banking	products	and	services	offered	by	

larger	banks	but	distinguished	by	local	delivery	and	customer	service.

larger	banks	but	distinguished	by	local	delivery	and	customer	service.

A	key	strategic	emphasis	has	been	for	our	business	segments	to	operate	in	cooperation	to	provide	products	and	

A	key	strategic	emphasis	has	been	for	our	business	segments	to	operate	in	cooperation	to	provide	products	and	

services	to	our	customers	and	to	build	stronger	and	more	profitable	relationships	using	our	OCR	sales	and	service	

services	to	our	customers	and	to	build	stronger	and	more	profitable	relationships	using	our	OCR	sales	and	service	

process.		The	objectives	of	OCR	are	to:

process.		The	objectives	of	OCR	are	to:

• Use	a	consultative	sales	approach	to	provide	solutions	that	are	specific	to	each	customer.

• Use	a	consultative	sales	approach	to	provide	solutions	that	are	specific	to	each	customer.

•

•

Leverage	each	business	segment	in	terms	of	its	products	and	expertise	to	benefit	customers.

Leverage	each	business	segment	in	terms	of	its	products	and	expertise	to	benefit	customers.

• Develop	prospects	who	may	want	to	have	multiple	products	and	services	as	part	of	their	relationship	with	

• Develop	prospects	who	may	want	to	have	multiple	products	and	services	as	part	of	their	relationship	with	

us.

us.

Following	is	a	description	of	our	four	business	segments	and	the	Treasury	/	Other	function:

Following	is	a	description	of	our	four	business	segments	and	the	Treasury	/	Other	function:

•

•

Consumer	and	Business	Banking:	The	Consumer	and	Business	Banking	segment	provides	a	wide	array	of	

Consumer	and	Business	Banking:	The	Consumer	and	Business	Banking	segment	provides	a	wide	array	of	

financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	

financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	

checking	accounts,	savings	accounts,	money	market	accounts,	CDs,	investments,	consumer	loans,	credit	

checking	accounts,	savings	accounts,	money	market	accounts,	CDs,	investments,	consumer	loans,	credit	

cards,	and	small	business	loans.		Other	financial	services	available	to	customers	include	mortgages,	

cards,	and	small	business	loans.		Other	financial	services	available	to	customers	include	mortgages,	

insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Huntington	serves	

insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Huntington	serves	

customers	through	our	network	of	branches.		In	addition	to	our	extensive	branch	network,	customers	can	

customers	through	our	network	of	branches.		In	addition	to	our	extensive	branch	network,	customers	can	

access	Huntington	through	online	banking,	mobile	banking,	telephone	banking,	and	ATMs.

access	Huntington	through	online	banking,	mobile	banking,	telephone	banking,	and	ATMs.

We	have	a	“Fair	Play”	banking	philosophy:	providing	differentiated	products	and	services,	built	on	a	

We	have	a	“Fair	Play”	banking	philosophy:	providing	differentiated	products	and	services,	built	on	a	

strong	foundation	of	customer	friendly	products	and	advocacy.		Our	brand	resonates	with	consumers	and	

strong	foundation	of	customer	friendly	products	and	advocacy.		Our	brand	resonates	with	consumers	and	

businesses,	helping	us	acquire	new	customers	and	deepen	relationships	with	current	customers.

businesses,	helping	us	acquire	new	customers	and	deepen	relationships	with	current	customers.

Business	Banking	is	a	dynamic	part	of	our	business	and	we	are	committed	to	being	the	bank	of	choice	for	

Business	Banking	is	a	dynamic	part	of	our	business	and	we	are	committed	to	being	the	bank	of	choice	for	

businesses	in	our	markets.		Business	Banking	is	defined	as	serving	companies	with	annual	revenues	up	to	

businesses	in	our	markets.		Business	Banking	is	defined	as	serving	companies	with	annual	revenues	up	to	

$20	million.		Huntington	continues	to	develop	products	and	services	that	are	designed	specifically	to	meet	

$20	million.		Huntington	continues	to	develop	products	and	services	that	are	designed	specifically	to	meet	

the	needs	of	small	business	and	look	for	ways	to	help	companies	find	solutions	to	their	financing	needs.

the	needs	of	small	business	and	look	for	ways	to	help	companies	find	solutions	to	their	financing	needs.

Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	originates	consumer	loans	and	

Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	originates	consumer	loans	and	

mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets.		Consumer	and	

mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets.		Consumer	and	

mortgage	lending	products	are	primarily	distributed	through	the	Consumer	and	Business	Banking	and	

mortgage	lending	products	are	primarily	distributed	through	the	Consumer	and	Business	Banking	and	

Regional	Banking	and	The	Huntington	Private	Client	Group	segments,	as	well	as	through	commissioned	loan	

Regional	Banking	and	The	Huntington	Private	Client	Group	segments,	as	well	as	through	commissioned	loan	

6					Huntington	Bancshares	Incorporated
6					Huntington	Bancshares	Incorporated

2020	Form	10-K					7

2020	Form	10-K					7

Problem	Loans

Problem	Loans

Includes	nonaccrual	loans	and	leases,	accruing	loans	and	leases	past	due	90	days	or	more,	troubled	

Includes	nonaccrual	loans	and	leases,	accruing	loans	and	leases	past	due	90	days	or	more,	troubled	

debt	restructured	loans,	and	criticized	commercial	loans

debt	restructured	loans,	and	criticized	commercial	loans

Capital	and	Liquidity	

Capital	and	Liquidity	

Refers	to	the	changes	to	applicability	thresholds	for	regulatory	and	capital	and	liquidity	requirements,	

Refers	to	the	changes	to	applicability	thresholds	for	regulatory	and	capital	and	liquidity	requirements,	

Tailoring	Rule

Tailoring	Rule

issued	by	the	OCC,	the	Federal	Reserve	and	the	FDIC

issued	by	the	OCC,	the	Federal	Reserve	and	the	FDIC

EPS	Tailoring	Rule

EPS	Tailoring	Rule

Refers	to	Prudential	Standards	for	Large	Bank	Holding	Companies	and	Savings	and	Loan	Holding,	issued	

Refers	to	Prudential	Standards	for	Large	Bank	Holding	Companies	and	Savings	and	Loan	Holding,	issued	

by	the	Federal	Reserve

by	the	Federal	Reserve

Tailoring	Rules

Tailoring	Rules

Refers	to	the	Capital	and	Liquidity	Tailoring	Rule	and	the	EPS	Tailoring	Rule

Refers	to	the	Capital	and	Liquidity	Tailoring	Rule	and	the	EPS	Tailoring	Rule

Regional	Banking	and	The	Huntington	Private	Client	Group

Regional	Banking	and	The	Huntington	Private	Client	Group

Real	Estate	Investment	Trust

Real	Estate	Investment	Trust

Riegle-Neal	Act

Riegle-Neal	Act

The	Riegle-Neal	Interstate	Banking	and	Branching	Efficiency	Act	of	1994

The	Riegle-Neal	Interstate	Banking	and	Branching	Efficiency	Act	of	1994

RBHPCG

RBHPCG

REIT

REIT

ROC

ROC

RWA

RWA

SBA

SBA

SIFMA

SIFMA

SOFR

SOFR

SRIP

SRIP

TCF

TCF

TCJA

TCJA

TDR

TDR

UCS

UCS

VIE

VIE

XBRL

XBRL

Risk	Oversight	Committee

Risk	Oversight	Committee

Risk-Weighted	Assets

Risk-Weighted	Assets

Small	Business	Administration

Small	Business	Administration

Securities	Industry	and	Financial	Markets	Association

Securities	Industry	and	Financial	Markets	Association

Secured	Overnight	Financing	Rate

Secured	Overnight	Financing	Rate

Supplemental	Retirement	Income	Plan

Supplemental	Retirement	Income	Plan

TCF	Financial	Corporation

TCF	Financial	Corporation

H.R.	1,	Originally	known	as	the	Tax	Cuts	and	Jobs	Act

H.R.	1,	Originally	known	as	the	Tax	Cuts	and	Jobs	Act

Troubled	Debt	Restructuring

Troubled	Debt	Restructuring

U.S.	Treasury

U.S.	Treasury

U.S.	Department	of	the	Treasury

U.S.	Department	of	the	Treasury

Uniform	Classification	System

Uniform	Classification	System

Variable	Interest	Entity

Variable	Interest	Entity

eXtensible	Business	Reporting	Language

eXtensible	Business	Reporting	Language

Huntington	Bancshares	Incorporated
Huntington	Bancshares	Incorporated

PART	I
PART	I

When	we	refer	to	“Huntington,”	“we,”	“our,”	“us,”	and	“the	Company”	in	this	report,	we	mean	Huntington	
When	we	refer	to	“Huntington,”	“we,”	“our,”	“us,”	and	“the	Company”	in	this	report,	we	mean	Huntington	
Bancshares	Incorporated	and	our	consolidated	subsidiaries,	unless	the	context	indicates	that	we	refer	only	to	the	
Bancshares	Incorporated	and	our	consolidated	subsidiaries,	unless	the	context	indicates	that	we	refer	only	to	the	
parent	company,	Huntington	Bancshares	Incorporated.		When	we	refer	to	the	“Bank”	in	this	report,	we	mean	our	
parent	company,	Huntington	Bancshares	Incorporated.		When	we	refer	to	the	“Bank”	in	this	report,	we	mean	our	
only	bank	subsidiary,	The	Huntington	National	Bank,	and	its	subsidiaries.
only	bank	subsidiary,	The	Huntington	National	Bank,	and	its	subsidiaries.

Item	1:	Business
Item	1:	Business

We	are	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	
We	are	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	
headquartered	in	Columbus,	Ohio.		We	have	15,578	average	full-time	equivalent	employees.		Through	the	Bank,	we	
headquartered	in	Columbus,	Ohio.		We	have	15,578	average	full-time	equivalent	employees.		Through	the	Bank,	we	
have	over	150	years	of	servicing	the	financial	needs	of	our	customers.		Through	our	subsidiaries,	we	provide	full-
have	over	150	years	of	servicing	the	financial	needs	of	our	customers.		Through	our	subsidiaries,	we	provide	full-
service	commercial	and	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	
service	commercial	and	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	
vehicle	and	marine	financing,	equipment	financing,	investment	management,	trust	services,	brokerage	services,	
vehicle	and	marine	financing,	equipment	financing,	investment	management,	trust	services,	brokerage	services,	
insurance	products	and	services,	and	other	financial	products	and	services.		At	December	31,	2020,	the	Bank	had	11	
insurance	products	and	services,	and	other	financial	products	and	services.		At	December	31,	2020,	the	Bank	had	11	
private	client	group	offices	and	828	branches	located	in	Ohio,	Illinois,	Indiana,	Kentucky,	Michigan,	Pennsylvania,	and	
private	client	group	offices	and	828	branches	located	in	Ohio,	Illinois,	Indiana,	Kentucky,	Michigan,	Pennsylvania,	and	
West	Virginia.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	
West	Virginia.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	
banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.		Our	foreign	banking	activities,	in	
banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.		Our	foreign	banking	activities,	in	
total	or	with	any	individual	country,	are	not	significant.
total	or	with	any	individual	country,	are	not	significant.

Our	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	
Our	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	
monitor	results	and	assess	performance.		For	each	of	our	four	business	segments,	we	expect	the	combination	of	our	
monitor	results	and	assess	performance.		For	each	of	our	four	business	segments,	we	expect	the	combination	of	our	
business	model	and	exceptional	service	to	provide	a	competitive	advantage	that	supports	revenue	and	earnings	
business	model	and	exceptional	service	to	provide	a	competitive	advantage	that	supports	revenue	and	earnings	
growth.		Our	business	model	emphasizes	the	delivery	of	a	complete	set	of	banking	products	and	services	offered	by	
growth.		Our	business	model	emphasizes	the	delivery	of	a	complete	set	of	banking	products	and	services	offered	by	
larger	banks	but	distinguished	by	local	delivery	and	customer	service.
larger	banks	but	distinguished	by	local	delivery	and	customer	service.

A	key	strategic	emphasis	has	been	for	our	business	segments	to	operate	in	cooperation	to	provide	products	and	
A	key	strategic	emphasis	has	been	for	our	business	segments	to	operate	in	cooperation	to	provide	products	and	

services	to	our	customers	and	to	build	stronger	and	more	profitable	relationships	using	our	OCR	sales	and	service	
services	to	our	customers	and	to	build	stronger	and	more	profitable	relationships	using	our	OCR	sales	and	service	
process.		The	objectives	of	OCR	are	to:
process.		The	objectives	of	OCR	are	to:

• Use	a	consultative	sales	approach	to	provide	solutions	that	are	specific	to	each	customer.
• Use	a	consultative	sales	approach	to	provide	solutions	that	are	specific	to	each	customer.
•
•
• Develop	prospects	who	may	want	to	have	multiple	products	and	services	as	part	of	their	relationship	with	
• Develop	prospects	who	may	want	to	have	multiple	products	and	services	as	part	of	their	relationship	with	

Leverage	each	business	segment	in	terms	of	its	products	and	expertise	to	benefit	customers.
Leverage	each	business	segment	in	terms	of	its	products	and	expertise	to	benefit	customers.

us.
us.

Following	is	a	description	of	our	four	business	segments	and	the	Treasury	/	Other	function:
Following	is	a	description	of	our	four	business	segments	and	the	Treasury	/	Other	function:

•
•

Consumer	and	Business	Banking:	The	Consumer	and	Business	Banking	segment	provides	a	wide	array	of	
Consumer	and	Business	Banking:	The	Consumer	and	Business	Banking	segment	provides	a	wide	array	of	
financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	
financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	
checking	accounts,	savings	accounts,	money	market	accounts,	CDs,	investments,	consumer	loans,	credit	
checking	accounts,	savings	accounts,	money	market	accounts,	CDs,	investments,	consumer	loans,	credit	
cards,	and	small	business	loans.		Other	financial	services	available	to	customers	include	mortgages,	
cards,	and	small	business	loans.		Other	financial	services	available	to	customers	include	mortgages,	
insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Huntington	serves	
insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Huntington	serves	
customers	through	our	network	of	branches.		In	addition	to	our	extensive	branch	network,	customers	can	
customers	through	our	network	of	branches.		In	addition	to	our	extensive	branch	network,	customers	can	
access	Huntington	through	online	banking,	mobile	banking,	telephone	banking,	and	ATMs.
access	Huntington	through	online	banking,	mobile	banking,	telephone	banking,	and	ATMs.

We	have	a	“Fair	Play”	banking	philosophy:	providing	differentiated	products	and	services,	built	on	a	
We	have	a	“Fair	Play”	banking	philosophy:	providing	differentiated	products	and	services,	built	on	a	
strong	foundation	of	customer	friendly	products	and	advocacy.		Our	brand	resonates	with	consumers	and	
strong	foundation	of	customer	friendly	products	and	advocacy.		Our	brand	resonates	with	consumers	and	
businesses,	helping	us	acquire	new	customers	and	deepen	relationships	with	current	customers.
businesses,	helping	us	acquire	new	customers	and	deepen	relationships	with	current	customers.

Business	Banking	is	a	dynamic	part	of	our	business	and	we	are	committed	to	being	the	bank	of	choice	for	
Business	Banking	is	a	dynamic	part	of	our	business	and	we	are	committed	to	being	the	bank	of	choice	for	

businesses	in	our	markets.		Business	Banking	is	defined	as	serving	companies	with	annual	revenues	up	to	
businesses	in	our	markets.		Business	Banking	is	defined	as	serving	companies	with	annual	revenues	up	to	
$20	million.		Huntington	continues	to	develop	products	and	services	that	are	designed	specifically	to	meet	
$20	million.		Huntington	continues	to	develop	products	and	services	that	are	designed	specifically	to	meet	
the	needs	of	small	business	and	look	for	ways	to	help	companies	find	solutions	to	their	financing	needs.
the	needs	of	small	business	and	look	for	ways	to	help	companies	find	solutions	to	their	financing	needs.

Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	originates	consumer	loans	and	
Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	originates	consumer	loans	and	

mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets.		Consumer	and	
mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets.		Consumer	and	
mortgage	lending	products	are	primarily	distributed	through	the	Consumer	and	Business	Banking	and	
mortgage	lending	products	are	primarily	distributed	through	the	Consumer	and	Business	Banking	and	
Regional	Banking	and	The	Huntington	Private	Client	Group	segments,	as	well	as	through	commissioned	loan	
Regional	Banking	and	The	Huntington	Private	Client	Group	segments,	as	well	as	through	commissioned	loan	

6					Huntington	Bancshares	Incorporated

6					Huntington	Bancshares	Incorporated

2020	Form	10-K					7
2020	Form	10-K					7

originators.		Home	Lending	earns	interest	on	portfolio	loans	and	loans	held-for-sale,	earns	fee	income	from	
originators.		Home	Lending	earns	interest	on	portfolio	loans	and	loans	held-for-sale,	earns	fee	income	from	
the	origination	and	servicing	of	mortgage	loans,	and	recognizes	gains	or	losses	from	the	sale	of	mortgage	
the	origination	and	servicing	of	mortgage	loans,	and	recognizes	gains	or	losses	from	the	sale	of	mortgage	
loans.		Home	Lending	supports	the	origination	of	mortgage	loans	across	all	segments.
loans.		Home	Lending	supports	the	origination	of	mortgage	loans	across	all	segments.

•
•

Commercial	Banking:	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	
Commercial	Banking:	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	
and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	
and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	
located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	
located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	
Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	
Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	
Markets	Group.			
Markets	Group.			

The	Relationship	Banking	Group	primarily	focuses	on	providing	banking	solutions	to	middle	market	
The	Relationship	Banking	Group	primarily	focuses	on	providing	banking	solutions	to	middle	market	
companies	with	annual	revenues	of	$20	to	$500	million	and	specialized	industries	as	well	as	commercial	real	
companies	with	annual	revenues	of	$20	to	$500	million	and	specialized	industries	as	well	as	commercial	real	
estate	developers,	REITS	and	other	customers	with	lending	needs	that	are	secured	by	commercial	
estate	developers,	REITS	and	other	customers	with	lending	needs	that	are	secured	by	commercial	
properties.		Through	a	relationship	management	approach,	various	products,	capabilities,	and	solutions	are	
properties.		Through	a	relationship	management	approach,	various	products,	capabilities,	and	solutions	are	
seamlessly	delivered	in	a	client	centric	way.		Most	of	these	customers	are	located	within	our	footprint.		
seamlessly	delivered	in	a	client	centric	way.		Most	of	these	customers	are	located	within	our	footprint.		
Within	commercial	real	estate,	Huntington	Community	Development	focuses	on	improving	the	quality	of	life	
Within	commercial	real	estate,	Huntington	Community	Development	focuses	on	improving	the	quality	of	life	
for	our	communities	and	the	residents	of	low-to-moderate	income	neighborhoods	by	developing	and	
for	our	communities	and	the	residents	of	low-to-moderate	income	neighborhoods	by	developing	and	
delivering	innovative	products	and	services	to	support	affordable	housing	and	neighborhood	stabilization.		
delivering	innovative	products	and	services	to	support	affordable	housing	and	neighborhood	stabilization.		

Specialized	Lending	Group	offers	lending-centric	products	and	services	including	Huntington	Business	
Specialized	Lending	Group	offers	lending-centric	products	and	services	including	Huntington	Business	

Credit,	Asset	Finance	and	other	specialized	lending	areas.		Huntington	Business	Credit	is	an	asset-based	
Credit,	Asset	Finance	and	other	specialized	lending	areas.		Huntington	Business	Credit	is	an	asset-based	
lender	providing	financing	solutions	to	a	broad	range	of	industries	that	exhibit	a	quick	turning	of	working	
lender	providing	financing	solutions	to	a	broad	range	of	industries	that	exhibit	a	quick	turning	of	working	
capital	in	a	collateral	controlled	environment.		Asset	Finance	is	a	combination	of	our	Huntington	Equipment	
capital	in	a	collateral	controlled	environment.		Asset	Finance	is	a	combination	of	our	Huntington	Equipment	
Finance,	Huntington	Public	Capital,	Huntington	Technology	Finance,	and	Lender	Finance	divisions	that	focus	
Finance,	Huntington	Public	Capital,	Huntington	Technology	Finance,	and	Lender	Finance	divisions	that	focus	
on	providing	financing	solutions	against	these	respective	asset	classes.
on	providing	financing	solutions	against	these	respective	asset	classes.

The	Capital	Markets	Group	has	three	distinct	product	offerings:	1)	corporate	risk	management	services,	
The	Capital	Markets	Group	has	three	distinct	product	offerings:	1)	corporate	risk	management	services,	
2)	institutional	sales,	trading,	and	underwriting,	and	3)	institutional	corporate	banking.		The	Capital	Markets	
2)	institutional	sales,	trading,	and	underwriting,	and	3)	institutional	corporate	banking.		The	Capital	Markets	
Group	offers	a	full	suite	of	risk	management	tools	including	commodities,	foreign	exchange,	and	interest	
Group	offers	a	full	suite	of	risk	management	tools	including	commodities,	foreign	exchange,	and	interest	
rate	hedging	services.		The	Institutional	Sales,	Trading,	&	Underwriting	team	provides	access	to	capital	and	
rate	hedging	services.		The	Institutional	Sales,	Trading,	&	Underwriting	team	provides	access	to	capital	and	
investment	solutions	for	both	municipal	and	corporate	institutions.		Institutional	Banking	works	primarily	
investment	solutions	for	both	municipal	and	corporate	institutions.		Institutional	Banking	works	primarily	
with	larger,	often	more	complex	companies	with	annual	revenues	greater	than	$500	million.		These	entities,	
with	larger,	often	more	complex	companies	with	annual	revenues	greater	than	$500	million.		These	entities,	
many	of	which	are	publicly	traded,	require	an	approach	customized	to	their	banking	needs.
many	of	which	are	publicly	traded,	require	an	approach	customized	to	their	banking	needs.

The	Treasury	Management/Deposit	Group	work	with	the	relationship	banking	and	lending	groups	to	
The	Treasury	Management/Deposit	Group	work	with	the	relationship	banking	and	lending	groups	to	

help	businesses	manage	their	working	capital	programs	and	reduce	expenses.		Our	liquidity	solutions	help	
help	businesses	manage	their	working	capital	programs	and	reduce	expenses.		Our	liquidity	solutions	help	
customers	save	and	invest	wisely,	while	our	payables	and	receivables	capabilities	help	them	manage	
customers	save	and	invest	wisely,	while	our	payables	and	receivables	capabilities	help	them	manage	
purchases	and	the	receipt	of	payments	for	goods	and	services.		All	of	this	is	provided	while	helping	
purchases	and	the	receipt	of	payments	for	goods	and	services.		All	of	this	is	provided	while	helping	
customers	take	a	sophisticated	approach	to	managing	their	overhead,	inventory,	equipment,	and	labor.
customers	take	a	sophisticated	approach	to	managing	their	overhead,	inventory,	equipment,	and	labor.

• Vehicle	Finance:	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	
• Vehicle	Finance:	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	
automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	
automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	
dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		
dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		
Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	
Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	
partners.		Huntington	creates	well-defined	relationship	plans	which	identify	needs	where	solutions	are	
partners.		Huntington	creates	well-defined	relationship	plans	which	identify	needs	where	solutions	are	
developed	and	customer	commitments	are	obtained.
developed	and	customer	commitments	are	obtained.

The	Vehicle	Finance	team	services	automobile	dealerships,	their	owners,	and	consumers	buying	
The	Vehicle	Finance	team	services	automobile	dealerships,	their	owners,	and	consumers	buying	
automobiles	through	these	franchised	dealerships.		Huntington	has	provided	new	and	used	automobile	
automobiles	through	these	franchised	dealerships.		Huntington	has	provided	new	and	used	automobile	
financing	and	dealer	services	throughout	the	Midwest	since	the	early	1950s.		This	consistency	in	the	market	
financing	and	dealer	services	throughout	the	Midwest	since	the	early	1950s.		This	consistency	in	the	market	
and	our	focus	on	working	with	strong	dealerships	has	allowed	us	to	expand	into	select	markets	outside	of	
and	our	focus	on	working	with	strong	dealerships	has	allowed	us	to	expand	into	select	markets	outside	of	
the	Midwest	and	to	actively	deepen	relationships	in	23	states	while	building	a	strong	reputation.		
the	Midwest	and	to	actively	deepen	relationships	in	23	states	while	building	a	strong	reputation.		
Huntington	also	provides	financing	for	the	purchase	by	consumers	of	recreational	vehicles	and	marine	craft	
Huntington	also	provides	financing	for	the	purchase	by	consumers	of	recreational	vehicles	and	marine	craft	
on	an	indirect	basis	through	a	series	of	dealerships	with	a	34	state	footprint,	including	coastal	states.		
on	an	indirect	basis	through	a	series	of	dealerships	with	a	34	state	footprint,	including	coastal	states.		

•
•

Regional	Banking	and	The	Huntington	Private	Client	Group:	Regional	Banking	and	The	Huntington	Private	
Regional	Banking	and	The	Huntington	Private	Client	Group:	Regional	Banking	and	The	Huntington	Private	
Client	Group	is	closely	aligned	with	our	regional	banking	markets.		A	fundamental	point	of	differentiation	is	
Client	Group	is	closely	aligned	with	our	regional	banking	markets.		A	fundamental	point	of	differentiation	is	
our	commitment	to	be	actively	engaged	within	our	local	markets	-	building	connections	with	community	and	
our	commitment	to	be	actively	engaged	within	our	local	markets	-	building	connections	with	community	and	

business	leaders	and	offering	a	uniquely	personal	experience	delivered	by	colleagues	working	within	those	

business	leaders	and	offering	a	uniquely	personal	experience	delivered	by	colleagues	working	within	those	

markets.

markets.

The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	

The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	

of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	

of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	

Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	

Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	

options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	

options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	

planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	

planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	

group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	

group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	

also	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.

also	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.

•

•

Treasury	/	Other:	The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	

Treasury	/	Other:	The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	

assets,	liabilities,	revenue,	and	expense.

assets,	liabilities,	revenue,	and	expense.

The	financial	results	for	each	of	these	business	segments	are	included	in	Note	26	-	“Segment	Reporting”	of	Notes	

The	financial	results	for	each	of	these	business	segments	are	included	in	Note	26	-	“Segment	Reporting”	of	Notes	

to	Consolidated	Financial	Statements	and	are	discussed	in	the	“Business	Segment	Discussion”	of	our	MD&A.

to	Consolidated	Financial	Statements	and	are	discussed	in	the	“Business	Segment	Discussion”	of	our	MD&A.

On	December	13,	2020,	we	entered	into	an	Agreement	and	Plan	of	Merger	(the	“Merger	Agreement”)	with	TCF.		

On	December	13,	2020,	we	entered	into	an	Agreement	and	Plan	of	Merger	(the	“Merger	Agreement”)	with	TCF.		

The	Merger	Agreement	provides	that	TCF	will	merge	with	and	into	Huntington	(the	“Merger”),	with	Huntington	

The	Merger	Agreement	provides	that	TCF	will	merge	with	and	into	Huntington	(the	“Merger”),	with	Huntington	

continuing	as	the	surviving	corporation	in	the	Merger.		Immediately	following	the	Merger,	TCF’s	wholly	owned	

continuing	as	the	surviving	corporation	in	the	Merger.		Immediately	following	the	Merger,	TCF’s	wholly	owned	

banking	subsidiary,	TCF	National	Bank,	will	merge	with	and	into	Huntington’s	wholly	owned	banking	subsidiary,	The	

banking	subsidiary,	TCF	National	Bank,	will	merge	with	and	into	Huntington’s	wholly	owned	banking	subsidiary,	The	

Huntington	National	Bank	(the	“Bank	Merger”),	which	will	continue	as	the	surviving	bank	in	the	Bank	Merger.		The	

Huntington	National	Bank	(the	“Bank	Merger”),	which	will	continue	as	the	surviving	bank	in	the	Bank	Merger.		The	

Merger	Agreement	was	unanimously	approved	by	the	Board	of	Directors	of	each	of	Huntington	and	TCF.		

Merger	Agreement	was	unanimously	approved	by	the	Board	of	Directors	of	each	of	Huntington	and	TCF.		

At	the	effective	time	of	the	Merger	(the	“Effective	Time”),	each	share	of	common	stock,	par	value	$1.00	per	

At	the	effective	time	of	the	Merger	(the	“Effective	Time”),	each	share	of	common	stock,	par	value	$1.00	per	

share,	of	TCF	outstanding	immediately	prior	to	the	Effective	Time,	other	than	certain	shares	held	by	Huntington	or	

share,	of	TCF	outstanding	immediately	prior	to	the	Effective	Time,	other	than	certain	shares	held	by	Huntington	or	

TCF,	will	be	converted	into	the	right	to	receive	3.0028	shares	of	common	stock,	par	value	$0.01	per	share,	of	

TCF,	will	be	converted	into	the	right	to	receive	3.0028	shares	of	common	stock,	par	value	$0.01	per	share,	of	

Huntington.		Holders	of	TCF	Common	Stock	will	receive	cash	in	lieu	of	fractional	shares.		At	the	Effective	Time,	each	

Huntington.		Holders	of	TCF	Common	Stock	will	receive	cash	in	lieu	of	fractional	shares.		At	the	Effective	Time,	each	

share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock,	no	par	value,	of	TCF	outstanding	immediately	

share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock,	no	par	value,	of	TCF	outstanding	immediately	

prior	to	the	Effective	Time	will	be	converted	into	the	right	to	receive	a	share	of	a	newly	created	series	of	preferred	

prior	to	the	Effective	Time	will	be	converted	into	the	right	to	receive	a	share	of	a	newly	created	series	of	preferred	

stock	of	Huntington.

stock	of	Huntington.

In	September	2020,	we	announced	a	new	five-year,	$20	billion	Community	Plan.		The	Community	Plan	focuses	

In	September	2020,	we	announced	a	new	five-year,	$20	billion	Community	Plan.		The	Community	Plan	focuses	

on	access	to	capital	for	small	business,	affordable	housing	and	home	ownership,	and	community	lending	and	

on	access	to	capital	for	small	business,	affordable	housing	and	home	ownership,	and	community	lending	and	

investment	focused	in	our	local	communities	across	our	footprint.		It	consists	of	3	commitments.		The	first	is	a		$7.6	

investment	focused	in	our	local	communities	across	our	footprint.		It	consists	of	3	commitments.		The	first	is	a		$7.6	

billion	commitment	to	help	small	businesses,	with	special	emphasis	on	those	owned	by	minorities,	women	and	

billion	commitment	to	help	small	businesses,	with	special	emphasis	on	those	owned	by	minorities,	women	and	

veterans.		The	second	is	a	$7.5	billion	commitment	to	enable	greater	opportunities	for	first-time	home	buyers,	

veterans.		The	second	is	a	$7.5	billion	commitment	to	enable	greater	opportunities	for	first-time	home	buyers,	

improve	housing	security	for	financially	distressed	consumers,	and	help	create	generational	wealth	building	through	

improve	housing	security	for	financially	distressed	consumers,	and	help	create	generational	wealth	building	through	

home	ownership.		Finally,	we	have	a	$4.9	billion	commitment	related	to	affordable	housing,	food	security,	workforce	

home	ownership.		Finally,	we	have	a	$4.9	billion	commitment	related	to	affordable	housing,	food	security,	workforce	

development	and	social	equity	as	we	believe	these	areas	are	fundamental	to	helping	people	find	basic	economic	

development	and	social	equity	as	we	believe	these	areas	are	fundamental	to	helping	people	find	basic	economic	

security	and	prosper	in	the	communities	we	serve.

security	and	prosper	in	the	communities	we	serve.

Human	Capital

Human	Capital

Huntington	aspires	to	be	a	Category	of	One	financial	services	institution:	an	organization	unique	in	the	

Huntington	aspires	to	be	a	Category	of	One	financial	services	institution:	an	organization	unique	in	the	

combination	of	its	culture	and	performance.		Huntington	had	15,578	average	full-time	equivalent	colleagues	during	

combination	of	its	culture	and	performance.		Huntington	had	15,578	average	full-time	equivalent	colleagues	during	

2020,	all	of	whom	are	encouraged	to	live	out	a	shared	purpose,	making	peoples’	lives	better,	helping	businesses	

2020,	all	of	whom	are	encouraged	to	live	out	a	shared	purpose,	making	peoples’	lives	better,	helping	businesses	

thrive,	and	strengthening	the	communities	we	serve.		We	believe	purpose	driven	leadership	facilitates	progress	in	

thrive,	and	strengthening	the	communities	we	serve.		We	believe	purpose	driven	leadership	facilitates	progress	in	

achieving	a	diverse	and	inclusive	workforce	and	in	driving	performance	results.		

achieving	a	diverse	and	inclusive	workforce	and	in	driving	performance	results.		

Huntington	engages	with	its	colleagues	to	gain	valuable	feedback	on	a	wide	range	of	subjects	related	to	the	

Huntington	engages	with	its	colleagues	to	gain	valuable	feedback	on	a	wide	range	of	subjects	related	to	the	

experience	of	working	at	Huntington,	with	a	strategic	focus	on	culture,	engagement	and	trust.		We	value	the	

experience	of	working	at	Huntington,	with	a	strategic	focus	on	culture,	engagement	and	trust.		We	value	the	

feedback	colleagues	choose	to	share	and	use	the	information	to	drive	our	talent	management	strategy,	which	

feedback	colleagues	choose	to	share	and	use	the	information	to	drive	our	talent	management	strategy,	which	

focuses	on	four	key	areas:

focuses	on	four	key	areas:

Engagement

Engagement

• Development

• Development

Retention,	and

Retention,	and

•

•

•

•

• Attraction	of	top	talent	

• Attraction	of	top	talent	

8					Huntington	Bancshares	Incorporated
8					Huntington	Bancshares	Incorporated

2020	Form	10-K					9

2020	Form	10-K					9

originators.		Home	Lending	earns	interest	on	portfolio	loans	and	loans	held-for-sale,	earns	fee	income	from	

originators.		Home	Lending	earns	interest	on	portfolio	loans	and	loans	held-for-sale,	earns	fee	income	from	

the	origination	and	servicing	of	mortgage	loans,	and	recognizes	gains	or	losses	from	the	sale	of	mortgage	

the	origination	and	servicing	of	mortgage	loans,	and	recognizes	gains	or	losses	from	the	sale	of	mortgage	

loans.		Home	Lending	supports	the	origination	of	mortgage	loans	across	all	segments.

loans.		Home	Lending	supports	the	origination	of	mortgage	loans	across	all	segments.

•

•

Commercial	Banking:	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	

Commercial	Banking:	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	

and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	

and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	

located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	

located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	

Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	

Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	

Markets	Group.			

Markets	Group.			

The	Relationship	Banking	Group	primarily	focuses	on	providing	banking	solutions	to	middle	market	

The	Relationship	Banking	Group	primarily	focuses	on	providing	banking	solutions	to	middle	market	

companies	with	annual	revenues	of	$20	to	$500	million	and	specialized	industries	as	well	as	commercial	real	

companies	with	annual	revenues	of	$20	to	$500	million	and	specialized	industries	as	well	as	commercial	real	

estate	developers,	REITS	and	other	customers	with	lending	needs	that	are	secured	by	commercial	

estate	developers,	REITS	and	other	customers	with	lending	needs	that	are	secured	by	commercial	

properties.		Through	a	relationship	management	approach,	various	products,	capabilities,	and	solutions	are	

properties.		Through	a	relationship	management	approach,	various	products,	capabilities,	and	solutions	are	

seamlessly	delivered	in	a	client	centric	way.		Most	of	these	customers	are	located	within	our	footprint.		

seamlessly	delivered	in	a	client	centric	way.		Most	of	these	customers	are	located	within	our	footprint.		

Within	commercial	real	estate,	Huntington	Community	Development	focuses	on	improving	the	quality	of	life	

Within	commercial	real	estate,	Huntington	Community	Development	focuses	on	improving	the	quality	of	life	

for	our	communities	and	the	residents	of	low-to-moderate	income	neighborhoods	by	developing	and	

for	our	communities	and	the	residents	of	low-to-moderate	income	neighborhoods	by	developing	and	

delivering	innovative	products	and	services	to	support	affordable	housing	and	neighborhood	stabilization.		

delivering	innovative	products	and	services	to	support	affordable	housing	and	neighborhood	stabilization.		

Specialized	Lending	Group	offers	lending-centric	products	and	services	including	Huntington	Business	

Specialized	Lending	Group	offers	lending-centric	products	and	services	including	Huntington	Business	

Credit,	Asset	Finance	and	other	specialized	lending	areas.		Huntington	Business	Credit	is	an	asset-based	

Credit,	Asset	Finance	and	other	specialized	lending	areas.		Huntington	Business	Credit	is	an	asset-based	

lender	providing	financing	solutions	to	a	broad	range	of	industries	that	exhibit	a	quick	turning	of	working	

lender	providing	financing	solutions	to	a	broad	range	of	industries	that	exhibit	a	quick	turning	of	working	

capital	in	a	collateral	controlled	environment.		Asset	Finance	is	a	combination	of	our	Huntington	Equipment	

capital	in	a	collateral	controlled	environment.		Asset	Finance	is	a	combination	of	our	Huntington	Equipment	

Finance,	Huntington	Public	Capital,	Huntington	Technology	Finance,	and	Lender	Finance	divisions	that	focus	

Finance,	Huntington	Public	Capital,	Huntington	Technology	Finance,	and	Lender	Finance	divisions	that	focus	

on	providing	financing	solutions	against	these	respective	asset	classes.

on	providing	financing	solutions	against	these	respective	asset	classes.

The	Capital	Markets	Group	has	three	distinct	product	offerings:	1)	corporate	risk	management	services,	

The	Capital	Markets	Group	has	three	distinct	product	offerings:	1)	corporate	risk	management	services,	

2)	institutional	sales,	trading,	and	underwriting,	and	3)	institutional	corporate	banking.		The	Capital	Markets	

2)	institutional	sales,	trading,	and	underwriting,	and	3)	institutional	corporate	banking.		The	Capital	Markets	

Group	offers	a	full	suite	of	risk	management	tools	including	commodities,	foreign	exchange,	and	interest	

Group	offers	a	full	suite	of	risk	management	tools	including	commodities,	foreign	exchange,	and	interest	

rate	hedging	services.		The	Institutional	Sales,	Trading,	&	Underwriting	team	provides	access	to	capital	and	

rate	hedging	services.		The	Institutional	Sales,	Trading,	&	Underwriting	team	provides	access	to	capital	and	

investment	solutions	for	both	municipal	and	corporate	institutions.		Institutional	Banking	works	primarily	

investment	solutions	for	both	municipal	and	corporate	institutions.		Institutional	Banking	works	primarily	

with	larger,	often	more	complex	companies	with	annual	revenues	greater	than	$500	million.		These	entities,	

with	larger,	often	more	complex	companies	with	annual	revenues	greater	than	$500	million.		These	entities,	

many	of	which	are	publicly	traded,	require	an	approach	customized	to	their	banking	needs.

many	of	which	are	publicly	traded,	require	an	approach	customized	to	their	banking	needs.

The	Treasury	Management/Deposit	Group	work	with	the	relationship	banking	and	lending	groups	to	

The	Treasury	Management/Deposit	Group	work	with	the	relationship	banking	and	lending	groups	to	

help	businesses	manage	their	working	capital	programs	and	reduce	expenses.		Our	liquidity	solutions	help	

help	businesses	manage	their	working	capital	programs	and	reduce	expenses.		Our	liquidity	solutions	help	

customers	save	and	invest	wisely,	while	our	payables	and	receivables	capabilities	help	them	manage	

customers	save	and	invest	wisely,	while	our	payables	and	receivables	capabilities	help	them	manage	

purchases	and	the	receipt	of	payments	for	goods	and	services.		All	of	this	is	provided	while	helping	

purchases	and	the	receipt	of	payments	for	goods	and	services.		All	of	this	is	provided	while	helping	

customers	take	a	sophisticated	approach	to	managing	their	overhead,	inventory,	equipment,	and	labor.

customers	take	a	sophisticated	approach	to	managing	their	overhead,	inventory,	equipment,	and	labor.

• Vehicle	Finance:	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	

• Vehicle	Finance:	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	

automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	

automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	

Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	

Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	

partners.		Huntington	creates	well-defined	relationship	plans	which	identify	needs	where	solutions	are	

partners.		Huntington	creates	well-defined	relationship	plans	which	identify	needs	where	solutions	are	

developed	and	customer	commitments	are	obtained.

developed	and	customer	commitments	are	obtained.

The	Vehicle	Finance	team	services	automobile	dealerships,	their	owners,	and	consumers	buying	

The	Vehicle	Finance	team	services	automobile	dealerships,	their	owners,	and	consumers	buying	

automobiles	through	these	franchised	dealerships.		Huntington	has	provided	new	and	used	automobile	

automobiles	through	these	franchised	dealerships.		Huntington	has	provided	new	and	used	automobile	

financing	and	dealer	services	throughout	the	Midwest	since	the	early	1950s.		This	consistency	in	the	market	

financing	and	dealer	services	throughout	the	Midwest	since	the	early	1950s.		This	consistency	in	the	market	

and	our	focus	on	working	with	strong	dealerships	has	allowed	us	to	expand	into	select	markets	outside	of	

and	our	focus	on	working	with	strong	dealerships	has	allowed	us	to	expand	into	select	markets	outside	of	

the	Midwest	and	to	actively	deepen	relationships	in	23	states	while	building	a	strong	reputation.		

the	Midwest	and	to	actively	deepen	relationships	in	23	states	while	building	a	strong	reputation.		

Huntington	also	provides	financing	for	the	purchase	by	consumers	of	recreational	vehicles	and	marine	craft	

Huntington	also	provides	financing	for	the	purchase	by	consumers	of	recreational	vehicles	and	marine	craft	

on	an	indirect	basis	through	a	series	of	dealerships	with	a	34	state	footprint,	including	coastal	states.		

on	an	indirect	basis	through	a	series	of	dealerships	with	a	34	state	footprint,	including	coastal	states.		

•

•

Regional	Banking	and	The	Huntington	Private	Client	Group:	Regional	Banking	and	The	Huntington	Private	

Regional	Banking	and	The	Huntington	Private	Client	Group:	Regional	Banking	and	The	Huntington	Private	

Client	Group	is	closely	aligned	with	our	regional	banking	markets.		A	fundamental	point	of	differentiation	is	

Client	Group	is	closely	aligned	with	our	regional	banking	markets.		A	fundamental	point	of	differentiation	is	

our	commitment	to	be	actively	engaged	within	our	local	markets	-	building	connections	with	community	and	

our	commitment	to	be	actively	engaged	within	our	local	markets	-	building	connections	with	community	and	

business	leaders	and	offering	a	uniquely	personal	experience	delivered	by	colleagues	working	within	those	
business	leaders	and	offering	a	uniquely	personal	experience	delivered	by	colleagues	working	within	those	
markets.
markets.

The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	
The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	

of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	
of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	
Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	
Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	
options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	
options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	
planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	
planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	
group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	
group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	
also	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.
also	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.

•
•

Treasury	/	Other:	The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	
Treasury	/	Other:	The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	
assets,	liabilities,	revenue,	and	expense.
assets,	liabilities,	revenue,	and	expense.

The	financial	results	for	each	of	these	business	segments	are	included	in	Note	26	-	“Segment	Reporting”	of	Notes	
The	financial	results	for	each	of	these	business	segments	are	included	in	Note	26	-	“Segment	Reporting”	of	Notes	

to	Consolidated	Financial	Statements	and	are	discussed	in	the	“Business	Segment	Discussion”	of	our	MD&A.
to	Consolidated	Financial	Statements	and	are	discussed	in	the	“Business	Segment	Discussion”	of	our	MD&A.

On	December	13,	2020,	we	entered	into	an	Agreement	and	Plan	of	Merger	(the	“Merger	Agreement”)	with	TCF.		
On	December	13,	2020,	we	entered	into	an	Agreement	and	Plan	of	Merger	(the	“Merger	Agreement”)	with	TCF.		

The	Merger	Agreement	provides	that	TCF	will	merge	with	and	into	Huntington	(the	“Merger”),	with	Huntington	
The	Merger	Agreement	provides	that	TCF	will	merge	with	and	into	Huntington	(the	“Merger”),	with	Huntington	
continuing	as	the	surviving	corporation	in	the	Merger.		Immediately	following	the	Merger,	TCF’s	wholly	owned	
continuing	as	the	surviving	corporation	in	the	Merger.		Immediately	following	the	Merger,	TCF’s	wholly	owned	
banking	subsidiary,	TCF	National	Bank,	will	merge	with	and	into	Huntington’s	wholly	owned	banking	subsidiary,	The	
banking	subsidiary,	TCF	National	Bank,	will	merge	with	and	into	Huntington’s	wholly	owned	banking	subsidiary,	The	
Huntington	National	Bank	(the	“Bank	Merger”),	which	will	continue	as	the	surviving	bank	in	the	Bank	Merger.		The	
Huntington	National	Bank	(the	“Bank	Merger”),	which	will	continue	as	the	surviving	bank	in	the	Bank	Merger.		The	
Merger	Agreement	was	unanimously	approved	by	the	Board	of	Directors	of	each	of	Huntington	and	TCF.		
Merger	Agreement	was	unanimously	approved	by	the	Board	of	Directors	of	each	of	Huntington	and	TCF.		

At	the	effective	time	of	the	Merger	(the	“Effective	Time”),	each	share	of	common	stock,	par	value	$1.00	per	
At	the	effective	time	of	the	Merger	(the	“Effective	Time”),	each	share	of	common	stock,	par	value	$1.00	per	
share,	of	TCF	outstanding	immediately	prior	to	the	Effective	Time,	other	than	certain	shares	held	by	Huntington	or	
share,	of	TCF	outstanding	immediately	prior	to	the	Effective	Time,	other	than	certain	shares	held	by	Huntington	or	
TCF,	will	be	converted	into	the	right	to	receive	3.0028	shares	of	common	stock,	par	value	$0.01	per	share,	of	
TCF,	will	be	converted	into	the	right	to	receive	3.0028	shares	of	common	stock,	par	value	$0.01	per	share,	of	
Huntington.		Holders	of	TCF	Common	Stock	will	receive	cash	in	lieu	of	fractional	shares.		At	the	Effective	Time,	each	
Huntington.		Holders	of	TCF	Common	Stock	will	receive	cash	in	lieu	of	fractional	shares.		At	the	Effective	Time,	each	
share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock,	no	par	value,	of	TCF	outstanding	immediately	
share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock,	no	par	value,	of	TCF	outstanding	immediately	
prior	to	the	Effective	Time	will	be	converted	into	the	right	to	receive	a	share	of	a	newly	created	series	of	preferred	
prior	to	the	Effective	Time	will	be	converted	into	the	right	to	receive	a	share	of	a	newly	created	series	of	preferred	
stock	of	Huntington.
stock	of	Huntington.

In	September	2020,	we	announced	a	new	five-year,	$20	billion	Community	Plan.		The	Community	Plan	focuses	
In	September	2020,	we	announced	a	new	five-year,	$20	billion	Community	Plan.		The	Community	Plan	focuses	

on	access	to	capital	for	small	business,	affordable	housing	and	home	ownership,	and	community	lending	and	
on	access	to	capital	for	small	business,	affordable	housing	and	home	ownership,	and	community	lending	and	
investment	focused	in	our	local	communities	across	our	footprint.		It	consists	of	3	commitments.		The	first	is	a		$7.6	
investment	focused	in	our	local	communities	across	our	footprint.		It	consists	of	3	commitments.		The	first	is	a		$7.6	
billion	commitment	to	help	small	businesses,	with	special	emphasis	on	those	owned	by	minorities,	women	and	
billion	commitment	to	help	small	businesses,	with	special	emphasis	on	those	owned	by	minorities,	women	and	
veterans.		The	second	is	a	$7.5	billion	commitment	to	enable	greater	opportunities	for	first-time	home	buyers,	
veterans.		The	second	is	a	$7.5	billion	commitment	to	enable	greater	opportunities	for	first-time	home	buyers,	
improve	housing	security	for	financially	distressed	consumers,	and	help	create	generational	wealth	building	through	
improve	housing	security	for	financially	distressed	consumers,	and	help	create	generational	wealth	building	through	
home	ownership.		Finally,	we	have	a	$4.9	billion	commitment	related	to	affordable	housing,	food	security,	workforce	
home	ownership.		Finally,	we	have	a	$4.9	billion	commitment	related	to	affordable	housing,	food	security,	workforce	
development	and	social	equity	as	we	believe	these	areas	are	fundamental	to	helping	people	find	basic	economic	
development	and	social	equity	as	we	believe	these	areas	are	fundamental	to	helping	people	find	basic	economic	
security	and	prosper	in	the	communities	we	serve.
security	and	prosper	in	the	communities	we	serve.

dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		

dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		

Human	Capital
Human	Capital

Huntington	aspires	to	be	a	Category	of	One	financial	services	institution:	an	organization	unique	in	the	
Huntington	aspires	to	be	a	Category	of	One	financial	services	institution:	an	organization	unique	in	the	

combination	of	its	culture	and	performance.		Huntington	had	15,578	average	full-time	equivalent	colleagues	during	
combination	of	its	culture	and	performance.		Huntington	had	15,578	average	full-time	equivalent	colleagues	during	
2020,	all	of	whom	are	encouraged	to	live	out	a	shared	purpose,	making	peoples’	lives	better,	helping	businesses	
2020,	all	of	whom	are	encouraged	to	live	out	a	shared	purpose,	making	peoples’	lives	better,	helping	businesses	
thrive,	and	strengthening	the	communities	we	serve.		We	believe	purpose	driven	leadership	facilitates	progress	in	
thrive,	and	strengthening	the	communities	we	serve.		We	believe	purpose	driven	leadership	facilitates	progress	in	
achieving	a	diverse	and	inclusive	workforce	and	in	driving	performance	results.		
achieving	a	diverse	and	inclusive	workforce	and	in	driving	performance	results.		

Huntington	engages	with	its	colleagues	to	gain	valuable	feedback	on	a	wide	range	of	subjects	related	to	the	
Huntington	engages	with	its	colleagues	to	gain	valuable	feedback	on	a	wide	range	of	subjects	related	to	the	

experience	of	working	at	Huntington,	with	a	strategic	focus	on	culture,	engagement	and	trust.		We	value	the	
experience	of	working	at	Huntington,	with	a	strategic	focus	on	culture,	engagement	and	trust.		We	value	the	
feedback	colleagues	choose	to	share	and	use	the	information	to	drive	our	talent	management	strategy,	which	
feedback	colleagues	choose	to	share	and	use	the	information	to	drive	our	talent	management	strategy,	which	
focuses	on	four	key	areas:
focuses	on	four	key	areas:

Engagement
•
Engagement
•
• Development
• Development
•
•
• Attraction	of	top	talent	
• Attraction	of	top	talent	

Retention,	and
Retention,	and

8					Huntington	Bancshares	Incorporated

8					Huntington	Bancshares	Incorporated

2020	Form	10-K					9
2020	Form	10-K					9

EngagementAt	Huntington,	we	believe	we	have	highly	engaged	colleagues	committed	to	looking	out	for	each	other	and	our	customers	with	a	balanced	focus	on	“what	we	do”	and	“how	we	do	it.”		The	results	of	our	most	recent	2020	colleague	survey	places	Huntington	in	the	top	10%	of	all	companies	in	a	benchmark	group	for	colleague	engagement	and	trust	and	in	the	top	1%	for	company	culture.		This	benchmark	group	includes	more	than	350	companies	with	more	than	15%	of	the	Fortune	500	represented	covering	a	wide	variety	of	industries,	including	financial	services.		At	Huntington,	living	out	our	shared	Purpose	extends	beyond	our	daily	work.		We	believe	that	building	connections	between	colleagues,	their	families	and	our	communities	creates	a	meaningful,	fulfilling	and	enjoyable	colleague	experience.		During	2020,	Huntington	colleagues	successfully	navigated	through	the	on-going	pandemic	challenges,	safely	providing	over	15,000	volunteer	hours	to	organizations	across	our	footprint.	Development	We	have	created	specialized	programs	to	help	our	colleagues	grow	and	develop.		These	programs	include	an	online	library	which	allows	colleagues	to	take	ownership	of	their	development	via	direct	access	to	role-based	content.		The	content	is	divided	into	three	key	areas	of	development:	learning	and	growth,	maximizing	performance,	and	protecting	the	company.		During	2020,	all	our	colleagues	had	experienced	training	within	one	or	more	of	these	areas.		Additionally,	we	expanded	learning	opportunities	across	our	footprint	offering	all	colleagues	the	ability	to	obtain	post-secondary	education	with	reimbursement	of	tuition.	RetentionHuntington	offers	competitive	rewards	programs	that	further	strengthen	our	employment	value	proposition	and	encourages	colleague	retention.		Our	compensation	structure	includes	benefit	plans	and	programs	focused	on	multiple	facets	of	well-being,	including	physical,	mental,	and	financial	wellness.		In	response	to	the	COVID-19	pandemic,	we	implemented	significant	changes	to	support	the	interests	and	needs	of	our	colleagues,	as	well	as	the	communities	in	which	we	operate.		This	includes	mobilizing	work	access	for	roles	that	can	be	performed	remotely	and	implementing	additional	safety	measures	for	colleagues	while	continuing	critical	on-site	duties.		Further,	we	implemented	colleague	relief	benefits,	such	as	paid	emergency	leave	and	emergency	childcare	time	off	so	that	our	colleagues	can	have	peace	of	mind	concerning	events	that	may	require	time	away	from	work.	Collectively,	these	strategies	create	a	colleague	experience	that	entices	colleagues	to	stay	and	fulfill	their	dreams	with	Huntington.		In	2020,	full-year	turnover	results	were	23%	lower	than	in	2019.AttractionWe	are	dedicated	to	attracting	top	talent	with	an	emphasis	on	experience	and	behaviors	that	align	with	our	Purpose	and	our	core	values	of	‘Can	Do,	Forward	Thinking,	and	Service	Heart’.		The	diversity	of	our	colleagues	is	a	key	component	of	our	success	as	an	organization	as	it	allows	us	to	have	a	workforce	that	is	representative	of	the	communities	we	serve.		We	define	diversity	as	women	and	any	Equal	Employment	Opportunity	ethnicity	and	race	category	other	than	white.		We	proactively	seek	out	a	diverse	candidate	pool	during	the	recruitment	process	across	all	levels	and	include	a	declaration	in	our	employee	handbooks	about	our	commitment	to	fair	and	equitable	treatment	for	all	colleagues.		To	keep	current	on	colleague	diversity,	Huntington	offers	an	opportunity	annually	for	all	colleagues	to	self-identify	with	respect	to	gender,	ethnicity	and	race,	disability	and	veteran’s	status.		During	2020,	we	offered	select	student	internships	to	serve	as	a	pipeline	for	entry-level	talent	with	65%	of	these	internships	fulfilled	by	diverse	students.		Additionally,	we	are	focused	on	identifying,	supporting	and	promoting	qualified	diverse	candidates	in	leadership	roles,	where	currently	our	combined	middle,	senior	and	executive	management	levels	are	45%	diverse.We	understand	that	to	support	our	diverse	culture,	we	must	also	have	inclusion,	which	is	a	corporate	strategic	objective.		Huntington	executes	a	strategy	of	inclusion	in	multiple	ways.		First,	our	Chief	Diversity,	Equity,	and	Inclusion	Officer	ensures	Diversity,	Equity,	and	Inclusion	perspectives	are	an	integral	part	of	executive	decisions	made	at	Huntington.		This	is	achieved	by	measuring	and	socializing	progress	on	diversity	across	our	footprint	and	providing	diversity	and	inclusion	programs	to	our	colleagues.		In	addition,	we	have	Inclusion	Councils	and	Business	Resource	Groups	to	support	our	commitment	to	engage,	develop,	retain	and	attract	top	diverse	talent.		Inclusion	Councils	are	voluntary,	colleague	driven	regional	councils	that	focus	on	an	inclusive,	respectful	and	supportive	10					Huntington	Bancshares	Incorporatedenvironment	for	all	colleagues.		The	Business	Resource	Groups	are	voluntary,	colleague-driven	groups	organized	around	a	shared	interest	or	common	diversity	dimension.		Both	are	important	components	to	our	inclusion	strategy	and	deliver	content	throughout	the	year.CompetitionWe	compete	with	other	banks	and	financial	services	companies	such	as	savings	and	loans,	credit	unions,	and	finance	and	trust	companies,	as	well	as	mortgage	banking	companies,	equipment	and	automobile	financing	companies	(including	captive	automobile	finance	companies),	insurance	companies,	mutual	funds,	investment	advisors,	and	brokerage	firms,	both	within	and	outside	of	our	primary	market	areas.		Financial	Technology	Companies,	or	FinTechs,	are	also	providing	nontraditional,	but	increasingly	strong,	competition	for	our	borrowers,	depositors,	and	other	customers.We	compete	for	loans	primarily	on	the	basis	of	a	combination	of	value	and	service	by	building	customer	relationships	as	a	result	of	addressing	our	customers’	entire	suite	of	banking	needs,	demonstrating	expertise,	and	providing	convenience	to	our	customers.		We	also	consider	the	competitive	pricing	pressures	in	each	of	our	markets.We	compete	for	deposits	similarly	on	the	basis	of	a	combination	of	value	and	service	and	by	providing	convenience	through	a	banking	network	of	branches	and	ATMs	within	our	markets	and	our	website	at	www.huntington.com.		We	also	employ	customer	friendly	practices,	such	as	a	$50	“safety	zone,”	which	prevents	customers	from	being	charged	an	overdraft	fee	if	they	accidentally	overdraw	by	$50	or	less,	as	well	as	our	24-Hour	Grace®	account	feature	for	both	commercial	and	consumer	accounts,	which	gives	customers	an	additional	business	day	to	cover	overdrafts	to	their	account	without	being	charged	overdraft	fees.		In	addition,	Huntington	has	created	a	feature	called	“Money	Scoutsm,”	which	is	a	tool	that	analyzes	a	customer’s	spending	habits	and	moves	money	that	is	not	being	used	into	that	customer’s	savings	account.		These	measures	fall	under	our	approach	of	“Fair	Play	Banking.”		The	table	below	shows	our	competitive	ranking	and	market	share	based	on	deposits	of	FDIC-insured	institutions	as	of	June	30,	2020,	in	the	top	10	MSAs	in	which	we	compete:MSARankDeposits(in	millions)Market	ShareColumbus,	OH	1	$	28,347		34	%Cleveland,	OH	3		12,196		12	Detroit,	MI	6		9,919		5	Akron,	OH	1		4,875		29	Indianapolis,	IN	4		4,349		6	Cincinnati,	OH	5		4,199		3	Pittsburgh,	PA	9		3,559		2	Toledo,	OH	1		3,343		22	Grand	Rapids,	MI	2		3,080		11	Chicago,	IL	20		2,875		1	Source:	FDIC.gov,	based	on	June	30,	2020	survey.Many	of	our	nonfinancial	institution	competitors	have	fewer	regulatory	constraints,	broader	geographic	service	areas,	greater	capital,	and,	in	some	cases,	lower	cost	structures.		In	addition,	competition	for	quality	customers	has	intensified	as	a	result	of	changes	in	regulation,	advances	in	technology	and	product	delivery	systems,	and	consolidation	among	financial	service	providers.FinTechs	continue	to	emerge	in	key	areas	of	banking.		In	addition,	larger	established	technology	platform	companies	continue	to	evaluate,	and	in	some	cases,	create	businesses	focused	on	banking	products.		We	are	closely	monitoring	activity	in	the	marketplace	to	ensure	that	our	products	and	services	are	technologically	competitive.		Further,	we	continue	to	invest	in	and	evolve	our	innovation	program	to	develop,	incubate,	and	launch	new	products	and	services	driving	ongoing	differentiated	value	for	our	customers.		Our	overall	strategy	involves	an	active	corporate	development	program	that	seeks	to	identify	partnership	and	possible	investment	opportunities	in	technology-driven	companies	that	can	augment	our	distribution	and	product	capabilities.	2020	Form	10-K					11EngagementAt	Huntington,	we	believe	we	have	highly	engaged	colleagues	committed	to	looking	out	for	each	other	and	our	customers	with	a	balanced	focus	on	“what	we	do”	and	“how	we	do	it.”		The	results	of	our	most	recent	2020	colleague	survey	places	Huntington	in	the	top	10%	of	all	companies	in	a	benchmark	group	for	colleague	engagement	and	trust	and	in	the	top	1%	for	company	culture.		This	benchmark	group	includes	more	than	350	companies	with	more	than	15%	of	the	Fortune	500	represented	covering	a	wide	variety	of	industries,	including	financial	services.		At	Huntington,	living	out	our	shared	Purpose	extends	beyond	our	daily	work.		We	believe	that	building	connections	between	colleagues,	their	families	and	our	communities	creates	a	meaningful,	fulfilling	and	enjoyable	colleague	experience.		During	2020,	Huntington	colleagues	successfully	navigated	through	the	on-going	pandemic	challenges,	safely	providing	over	15,000	volunteer	hours	to	organizations	across	our	footprint.	Development	We	have	created	specialized	programs	to	help	our	colleagues	grow	and	develop.		These	programs	include	an	online	library	which	allows	colleagues	to	take	ownership	of	their	development	via	direct	access	to	role-based	content.		The	content	is	divided	into	three	key	areas	of	development:	learning	and	growth,	maximizing	performance,	and	protecting	the	company.		During	2020,	all	our	colleagues	had	experienced	training	within	one	or	more	of	these	areas.		Additionally,	we	expanded	learning	opportunities	across	our	footprint	offering	all	colleagues	the	ability	to	obtain	post-secondary	education	with	reimbursement	of	tuition.	RetentionHuntington	offers	competitive	rewards	programs	that	further	strengthen	our	employment	value	proposition	and	encourages	colleague	retention.		Our	compensation	structure	includes	benefit	plans	and	programs	focused	on	multiple	facets	of	well-being,	including	physical,	mental,	and	financial	wellness.		In	response	to	the	COVID-19	pandemic,	we	implemented	significant	changes	to	support	the	interests	and	needs	of	our	colleagues,	as	well	as	the	communities	in	which	we	operate.		This	includes	mobilizing	work	access	for	roles	that	can	be	performed	remotely	and	implementing	additional	safety	measures	for	colleagues	while	continuing	critical	on-site	duties.		Further,	we	implemented	colleague	relief	benefits,	such	as	paid	emergency	leave	and	emergency	childcare	time	off	so	that	our	colleagues	can	have	peace	of	mind	concerning	events	that	may	require	time	away	from	work.	Collectively,	these	strategies	create	a	colleague	experience	that	entices	colleagues	to	stay	and	fulfill	their	dreams	with	Huntington.		In	2020,	full-year	turnover	results	were	23%	lower	than	in	2019.AttractionWe	are	dedicated	to	attracting	top	talent	with	an	emphasis	on	experience	and	behaviors	that	align	with	our	Purpose	and	our	core	values	of	‘Can	Do,	Forward	Thinking,	and	Service	Heart’.		The	diversity	of	our	colleagues	is	a	key	component	of	our	success	as	an	organization	as	it	allows	us	to	have	a	workforce	that	is	representative	of	the	communities	we	serve.		We	define	diversity	as	women	and	any	Equal	Employment	Opportunity	ethnicity	and	race	category	other	than	white.		We	proactively	seek	out	a	diverse	candidate	pool	during	the	recruitment	process	across	all	levels	and	include	a	declaration	in	our	employee	handbooks	about	our	commitment	to	fair	and	equitable	treatment	for	all	colleagues.		To	keep	current	on	colleague	diversity,	Huntington	offers	an	opportunity	annually	for	all	colleagues	to	self-identify	with	respect	to	gender,	ethnicity	and	race,	disability	and	veteran’s	status.		During	2020,	we	offered	select	student	internships	to	serve	as	a	pipeline	for	entry-level	talent	with	65%	of	these	internships	fulfilled	by	diverse	students.		Additionally,	we	are	focused	on	identifying,	supporting	and	promoting	qualified	diverse	candidates	in	leadership	roles,	where	currently	our	combined	middle,	senior	and	executive	management	levels	are	45%	diverse.We	understand	that	to	support	our	diverse	culture,	we	must	also	have	inclusion,	which	is	a	corporate	strategic	objective.		Huntington	executes	a	strategy	of	inclusion	in	multiple	ways.		First,	our	Chief	Diversity,	Equity,	and	Inclusion	Officer	ensures	Diversity,	Equity,	and	Inclusion	perspectives	are	an	integral	part	of	executive	decisions	made	at	Huntington.		This	is	achieved	by	measuring	and	socializing	progress	on	diversity	across	our	footprint	and	providing	diversity	and	inclusion	programs	to	our	colleagues.		In	addition,	we	have	Inclusion	Councils	and	Business	Resource	Groups	to	support	our	commitment	to	engage,	develop,	retain	and	attract	top	diverse	talent.		Inclusion	Councils	are	voluntary,	colleague	driven	regional	councils	that	focus	on	an	inclusive,	respectful	and	supportive	10					Huntington	Bancshares	Incorporatedenvironment	for	all	colleagues.		The	Business	Resource	Groups	are	voluntary,	colleague-driven	groups	organized	around	a	shared	interest	or	common	diversity	dimension.		Both	are	important	components	to	our	inclusion	strategy	and	deliver	content	throughout	the	year.CompetitionWe	compete	with	other	banks	and	financial	services	companies	such	as	savings	and	loans,	credit	unions,	and	finance	and	trust	companies,	as	well	as	mortgage	banking	companies,	equipment	and	automobile	financing	companies	(including	captive	automobile	finance	companies),	insurance	companies,	mutual	funds,	investment	advisors,	and	brokerage	firms,	both	within	and	outside	of	our	primary	market	areas.		Financial	Technology	Companies,	or	FinTechs,	are	also	providing	nontraditional,	but	increasingly	strong,	competition	for	our	borrowers,	depositors,	and	other	customers.We	compete	for	loans	primarily	on	the	basis	of	a	combination	of	value	and	service	by	building	customer	relationships	as	a	result	of	addressing	our	customers’	entire	suite	of	banking	needs,	demonstrating	expertise,	and	providing	convenience	to	our	customers.		We	also	consider	the	competitive	pricing	pressures	in	each	of	our	markets.We	compete	for	deposits	similarly	on	the	basis	of	a	combination	of	value	and	service	and	by	providing	convenience	through	a	banking	network	of	branches	and	ATMs	within	our	markets	and	our	website	at	www.huntington.com.		We	also	employ	customer	friendly	practices,	such	as	a	$50	“safety	zone,”	which	prevents	customers	from	being	charged	an	overdraft	fee	if	they	accidentally	overdraw	by	$50	or	less,	as	well	as	our	24-Hour	Grace®	account	feature	for	both	commercial	and	consumer	accounts,	which	gives	customers	an	additional	business	day	to	cover	overdrafts	to	their	account	without	being	charged	overdraft	fees.		In	addition,	Huntington	has	created	a	feature	called	“Money	Scoutsm,”	which	is	a	tool	that	analyzes	a	customer’s	spending	habits	and	moves	money	that	is	not	being	used	into	that	customer’s	savings	account.		These	measures	fall	under	our	approach	of	“Fair	Play	Banking.”		The	table	below	shows	our	competitive	ranking	and	market	share	based	on	deposits	of	FDIC-insured	institutions	as	of	June	30,	2020,	in	the	top	10	MSAs	in	which	we	compete:MSARankDeposits(in	millions)Market	ShareColumbus,	OH	1	$	28,347		34	%Cleveland,	OH	3		12,196		12	Detroit,	MI	6		9,919		5	Akron,	OH	1		4,875		29	Indianapolis,	IN	4		4,349		6	Cincinnati,	OH	5		4,199		3	Pittsburgh,	PA	9		3,559		2	Toledo,	OH	1		3,343		22	Grand	Rapids,	MI	2		3,080		11	Chicago,	IL	20		2,875		1	Source:	FDIC.gov,	based	on	June	30,	2020	survey.Many	of	our	nonfinancial	institution	competitors	have	fewer	regulatory	constraints,	broader	geographic	service	areas,	greater	capital,	and,	in	some	cases,	lower	cost	structures.		In	addition,	competition	for	quality	customers	has	intensified	as	a	result	of	changes	in	regulation,	advances	in	technology	and	product	delivery	systems,	and	consolidation	among	financial	service	providers.FinTechs	continue	to	emerge	in	key	areas	of	banking.		In	addition,	larger	established	technology	platform	companies	continue	to	evaluate,	and	in	some	cases,	create	businesses	focused	on	banking	products.		We	are	closely	monitoring	activity	in	the	marketplace	to	ensure	that	our	products	and	services	are	technologically	competitive.		Further,	we	continue	to	invest	in	and	evolve	our	innovation	program	to	develop,	incubate,	and	launch	new	products	and	services	driving	ongoing	differentiated	value	for	our	customers.		Our	overall	strategy	involves	an	active	corporate	development	program	that	seeks	to	identify	partnership	and	possible	investment	opportunities	in	technology-driven	companies	that	can	augment	our	distribution	and	product	capabilities.	2020	Form	10-K					11EngagementAt	Huntington,	we	believe	we	have	highly	engaged	colleagues	committed	to	looking	out	for	each	other	and	our	customers	with	a	balanced	focus	on	“what	we	do”	and	“how	we	do	it.”		The	results	of	our	most	recent	2020	colleague	survey	places	Huntington	in	the	top	10%	of	all	companies	in	a	benchmark	group	for	colleague	engagement	and	trust	and	in	the	top	1%	for	company	culture.		This	benchmark	group	includes	more	than	350	companies	with	more	than	15%	of	the	Fortune	500	represented	covering	a	wide	variety	of	industries,	including	financial	services.		At	Huntington,	living	out	our	shared	Purpose	extends	beyond	our	daily	work.		We	believe	that	building	connections	between	colleagues,	their	families	and	our	communities	creates	a	meaningful,	fulfilling	and	enjoyable	colleague	experience.		During	2020,	Huntington	colleagues	successfully	navigated	through	the	on-going	pandemic	challenges,	safely	providing	over	15,000	volunteer	hours	to	organizations	across	our	footprint.	Development	We	have	created	specialized	programs	to	help	our	colleagues	grow	and	develop.		These	programs	include	an	online	library	which	allows	colleagues	to	take	ownership	of	their	development	via	direct	access	to	role-based	content.		The	content	is	divided	into	three	key	areas	of	development:	learning	and	growth,	maximizing	performance,	and	protecting	the	company.		During	2020,	all	our	colleagues	had	experienced	training	within	one	or	more	of	these	areas.		Additionally,	we	expanded	learning	opportunities	across	our	footprint	offering	all	colleagues	the	ability	to	obtain	post-secondary	education	with	reimbursement	of	tuition.	RetentionHuntington	offers	competitive	rewards	programs	that	further	strengthen	our	employment	value	proposition	and	encourages	colleague	retention.		Our	compensation	structure	includes	benefit	plans	and	programs	focused	on	multiple	facets	of	well-being,	including	physical,	mental,	and	financial	wellness.		In	response	to	the	COVID-19	pandemic,	we	implemented	significant	changes	to	support	the	interests	and	needs	of	our	colleagues,	as	well	as	the	communities	in	which	we	operate.		This	includes	mobilizing	work	access	for	roles	that	can	be	performed	remotely	and	implementing	additional	safety	measures	for	colleagues	while	continuing	critical	on-site	duties.		Further,	we	implemented	colleague	relief	benefits,	such	as	paid	emergency	leave	and	emergency	childcare	time	off	so	that	our	colleagues	can	have	peace	of	mind	concerning	events	that	may	require	time	away	from	work.	Collectively,	these	strategies	create	a	colleague	experience	that	entices	colleagues	to	stay	and	fulfill	their	dreams	with	Huntington.		In	2020,	full-year	turnover	results	were	23%	lower	than	in	2019.AttractionWe	are	dedicated	to	attracting	top	talent	with	an	emphasis	on	experience	and	behaviors	that	align	with	our	Purpose	and	our	core	values	of	‘Can	Do,	Forward	Thinking,	and	Service	Heart’.		The	diversity	of	our	colleagues	is	a	key	component	of	our	success	as	an	organization	as	it	allows	us	to	have	a	workforce	that	is	representative	of	the	communities	we	serve.		We	define	diversity	as	women	and	any	Equal	Employment	Opportunity	ethnicity	and	race	category	other	than	white.		We	proactively	seek	out	a	diverse	candidate	pool	during	the	recruitment	process	across	all	levels	and	include	a	declaration	in	our	employee	handbooks	about	our	commitment	to	fair	and	equitable	treatment	for	all	colleagues.		To	keep	current	on	colleague	diversity,	Huntington	offers	an	opportunity	annually	for	all	colleagues	to	self-identify	with	respect	to	gender,	ethnicity	and	race,	disability	and	veteran’s	status.		During	2020,	we	offered	select	student	internships	to	serve	as	a	pipeline	for	entry-level	talent	with	65%	of	these	internships	fulfilled	by	diverse	students.		Additionally,	we	are	focused	on	identifying,	supporting	and	promoting	qualified	diverse	candidates	in	leadership	roles,	where	currently	our	combined	middle,	senior	and	executive	management	levels	are	45%	diverse.We	understand	that	to	support	our	diverse	culture,	we	must	also	have	inclusion,	which	is	a	corporate	strategic	objective.		Huntington	executes	a	strategy	of	inclusion	in	multiple	ways.		First,	our	Chief	Diversity,	Equity,	and	Inclusion	Officer	ensures	Diversity,	Equity,	and	Inclusion	perspectives	are	an	integral	part	of	executive	decisions	made	at	Huntington.		This	is	achieved	by	measuring	and	socializing	progress	on	diversity	across	our	footprint	and	providing	diversity	and	inclusion	programs	to	our	colleagues.		In	addition,	we	have	Inclusion	Councils	and	Business	Resource	Groups	to	support	our	commitment	to	engage,	develop,	retain	and	attract	top	diverse	talent.		Inclusion	Councils	are	voluntary,	colleague	driven	regional	councils	that	focus	on	an	inclusive,	respectful	and	supportive	10					Huntington	Bancshares	Incorporatedenvironment	for	all	colleagues.		The	Business	Resource	Groups	are	voluntary,	colleague-driven	groups	organized	around	a	shared	interest	or	common	diversity	dimension.		Both	are	important	components	to	our	inclusion	strategy	and	deliver	content	throughout	the	year.CompetitionWe	compete	with	other	banks	and	financial	services	companies	such	as	savings	and	loans,	credit	unions,	and	finance	and	trust	companies,	as	well	as	mortgage	banking	companies,	equipment	and	automobile	financing	companies	(including	captive	automobile	finance	companies),	insurance	companies,	mutual	funds,	investment	advisors,	and	brokerage	firms,	both	within	and	outside	of	our	primary	market	areas.		Financial	Technology	Companies,	or	FinTechs,	are	also	providing	nontraditional,	but	increasingly	strong,	competition	for	our	borrowers,	depositors,	and	other	customers.We	compete	for	loans	primarily	on	the	basis	of	a	combination	of	value	and	service	by	building	customer	relationships	as	a	result	of	addressing	our	customers’	entire	suite	of	banking	needs,	demonstrating	expertise,	and	providing	convenience	to	our	customers.		We	also	consider	the	competitive	pricing	pressures	in	each	of	our	markets.We	compete	for	deposits	similarly	on	the	basis	of	a	combination	of	value	and	service	and	by	providing	convenience	through	a	banking	network	of	branches	and	ATMs	within	our	markets	and	our	website	at	www.huntington.com.		We	also	employ	customer	friendly	practices,	such	as	a	$50	“safety	zone,”	which	prevents	customers	from	being	charged	an	overdraft	fee	if	they	accidentally	overdraw	by	$50	or	less,	as	well	as	our	24-Hour	Grace®	account	feature	for	both	commercial	and	consumer	accounts,	which	gives	customers	an	additional	business	day	to	cover	overdrafts	to	their	account	without	being	charged	overdraft	fees.		In	addition,	Huntington	has	created	a	feature	called	“Money	Scoutsm,”	which	is	a	tool	that	analyzes	a	customer’s	spending	habits	and	moves	money	that	is	not	being	used	into	that	customer’s	savings	account.		These	measures	fall	under	our	approach	of	“Fair	Play	Banking.”		The	table	below	shows	our	competitive	ranking	and	market	share	based	on	deposits	of	FDIC-insured	institutions	as	of	June	30,	2020,	in	the	top	10	MSAs	in	which	we	compete:MSARankDeposits(in	millions)Market	ShareColumbus,	OH	1	$	28,347		34	%Cleveland,	OH	3		12,196		12	Detroit,	MI	6		9,919		5	Akron,	OH	1		4,875		29	Indianapolis,	IN	4		4,349		6	Cincinnati,	OH	5		4,199		3	Pittsburgh,	PA	9		3,559		2	Toledo,	OH	1		3,343		22	Grand	Rapids,	MI	2		3,080		11	Chicago,	IL	20		2,875		1	Source:	FDIC.gov,	based	on	June	30,	2020	survey.Many	of	our	nonfinancial	institution	competitors	have	fewer	regulatory	constraints,	broader	geographic	service	areas,	greater	capital,	and,	in	some	cases,	lower	cost	structures.		In	addition,	competition	for	quality	customers	has	intensified	as	a	result	of	changes	in	regulation,	advances	in	technology	and	product	delivery	systems,	and	consolidation	among	financial	service	providers.FinTechs	continue	to	emerge	in	key	areas	of	banking.		In	addition,	larger	established	technology	platform	companies	continue	to	evaluate,	and	in	some	cases,	create	businesses	focused	on	banking	products.		We	are	closely	monitoring	activity	in	the	marketplace	to	ensure	that	our	products	and	services	are	technologically	competitive.		Further,	we	continue	to	invest	in	and	evolve	our	innovation	program	to	develop,	incubate,	and	launch	new	products	and	services	driving	ongoing	differentiated	value	for	our	customers.		Our	overall	strategy	involves	an	active	corporate	development	program	that	seeks	to	identify	partnership	and	possible	investment	opportunities	in	technology-driven	companies	that	can	augment	our	distribution	and	product	capabilities.	2020	Form	10-K					11EngagementAt	Huntington,	we	believe	we	have	highly	engaged	colleagues	committed	to	looking	out	for	each	other	and	our	customers	with	a	balanced	focus	on	“what	we	do”	and	“how	we	do	it.”		The	results	of	our	most	recent	2020	colleague	survey	places	Huntington	in	the	top	10%	of	all	companies	in	a	benchmark	group	for	colleague	engagement	and	trust	and	in	the	top	1%	for	company	culture.		This	benchmark	group	includes	more	than	350	companies	with	more	than	15%	of	the	Fortune	500	represented	covering	a	wide	variety	of	industries,	including	financial	services.		At	Huntington,	living	out	our	shared	Purpose	extends	beyond	our	daily	work.		We	believe	that	building	connections	between	colleagues,	their	families	and	our	communities	creates	a	meaningful,	fulfilling	and	enjoyable	colleague	experience.		During	2020,	Huntington	colleagues	successfully	navigated	through	the	on-going	pandemic	challenges,	safely	providing	over	15,000	volunteer	hours	to	organizations	across	our	footprint.	Development	We	have	created	specialized	programs	to	help	our	colleagues	grow	and	develop.		These	programs	include	an	online	library	which	allows	colleagues	to	take	ownership	of	their	development	via	direct	access	to	role-based	content.		The	content	is	divided	into	three	key	areas	of	development:	learning	and	growth,	maximizing	performance,	and	protecting	the	company.		During	2020,	all	our	colleagues	had	experienced	training	within	one	or	more	of	these	areas.		Additionally,	we	expanded	learning	opportunities	across	our	footprint	offering	all	colleagues	the	ability	to	obtain	post-secondary	education	with	reimbursement	of	tuition.	RetentionHuntington	offers	competitive	rewards	programs	that	further	strengthen	our	employment	value	proposition	and	encourages	colleague	retention.		Our	compensation	structure	includes	benefit	plans	and	programs	focused	on	multiple	facets	of	well-being,	including	physical,	mental,	and	financial	wellness.		In	response	to	the	COVID-19	pandemic,	we	implemented	significant	changes	to	support	the	interests	and	needs	of	our	colleagues,	as	well	as	the	communities	in	which	we	operate.		This	includes	mobilizing	work	access	for	roles	that	can	be	performed	remotely	and	implementing	additional	safety	measures	for	colleagues	while	continuing	critical	on-site	duties.		Further,	we	implemented	colleague	relief	benefits,	such	as	paid	emergency	leave	and	emergency	childcare	time	off	so	that	our	colleagues	can	have	peace	of	mind	concerning	events	that	may	require	time	away	from	work.	Collectively,	these	strategies	create	a	colleague	experience	that	entices	colleagues	to	stay	and	fulfill	their	dreams	with	Huntington.		In	2020,	full-year	turnover	results	were	23%	lower	than	in	2019.AttractionWe	are	dedicated	to	attracting	top	talent	with	an	emphasis	on	experience	and	behaviors	that	align	with	our	Purpose	and	our	core	values	of	‘Can	Do,	Forward	Thinking,	and	Service	Heart’.		The	diversity	of	our	colleagues	is	a	key	component	of	our	success	as	an	organization	as	it	allows	us	to	have	a	workforce	that	is	representative	of	the	communities	we	serve.		We	define	diversity	as	women	and	any	Equal	Employment	Opportunity	ethnicity	and	race	category	other	than	white.		We	proactively	seek	out	a	diverse	candidate	pool	during	the	recruitment	process	across	all	levels	and	include	a	declaration	in	our	employee	handbooks	about	our	commitment	to	fair	and	equitable	treatment	for	all	colleagues.		To	keep	current	on	colleague	diversity,	Huntington	offers	an	opportunity	annually	for	all	colleagues	to	self-identify	with	respect	to	gender,	ethnicity	and	race,	disability	and	veteran’s	status.		During	2020,	we	offered	select	student	internships	to	serve	as	a	pipeline	for	entry-level	talent	with	65%	of	these	internships	fulfilled	by	diverse	students.		Additionally,	we	are	focused	on	identifying,	supporting	and	promoting	qualified	diverse	candidates	in	leadership	roles,	where	currently	our	combined	middle,	senior	and	executive	management	levels	are	45%	diverse.We	understand	that	to	support	our	diverse	culture,	we	must	also	have	inclusion,	which	is	a	corporate	strategic	objective.		Huntington	executes	a	strategy	of	inclusion	in	multiple	ways.		First,	our	Chief	Diversity,	Equity,	and	Inclusion	Officer	ensures	Diversity,	Equity,	and	Inclusion	perspectives	are	an	integral	part	of	executive	decisions	made	at	Huntington.		This	is	achieved	by	measuring	and	socializing	progress	on	diversity	across	our	footprint	and	providing	diversity	and	inclusion	programs	to	our	colleagues.		In	addition,	we	have	Inclusion	Councils	and	Business	Resource	Groups	to	support	our	commitment	to	engage,	develop,	retain	and	attract	top	diverse	talent.		Inclusion	Councils	are	voluntary,	colleague	driven	regional	councils	that	focus	on	an	inclusive,	respectful	and	supportive	10					Huntington	Bancshares	Incorporatedenvironment	for	all	colleagues.		The	Business	Resource	Groups	are	voluntary,	colleague-driven	groups	organized	around	a	shared	interest	or	common	diversity	dimension.		Both	are	important	components	to	our	inclusion	strategy	and	deliver	content	throughout	the	year.CompetitionWe	compete	with	other	banks	and	financial	services	companies	such	as	savings	and	loans,	credit	unions,	and	finance	and	trust	companies,	as	well	as	mortgage	banking	companies,	equipment	and	automobile	financing	companies	(including	captive	automobile	finance	companies),	insurance	companies,	mutual	funds,	investment	advisors,	and	brokerage	firms,	both	within	and	outside	of	our	primary	market	areas.		Financial	Technology	Companies,	or	FinTechs,	are	also	providing	nontraditional,	but	increasingly	strong,	competition	for	our	borrowers,	depositors,	and	other	customers.We	compete	for	loans	primarily	on	the	basis	of	a	combination	of	value	and	service	by	building	customer	relationships	as	a	result	of	addressing	our	customers’	entire	suite	of	banking	needs,	demonstrating	expertise,	and	providing	convenience	to	our	customers.		We	also	consider	the	competitive	pricing	pressures	in	each	of	our	markets.We	compete	for	deposits	similarly	on	the	basis	of	a	combination	of	value	and	service	and	by	providing	convenience	through	a	banking	network	of	branches	and	ATMs	within	our	markets	and	our	website	at	www.huntington.com.		We	also	employ	customer	friendly	practices,	such	as	a	$50	“safety	zone,”	which	prevents	customers	from	being	charged	an	overdraft	fee	if	they	accidentally	overdraw	by	$50	or	less,	as	well	as	our	24-Hour	Grace®	account	feature	for	both	commercial	and	consumer	accounts,	which	gives	customers	an	additional	business	day	to	cover	overdrafts	to	their	account	without	being	charged	overdraft	fees.		In	addition,	Huntington	has	created	a	feature	called	“Money	Scoutsm,”	which	is	a	tool	that	analyzes	a	customer’s	spending	habits	and	moves	money	that	is	not	being	used	into	that	customer’s	savings	account.		These	measures	fall	under	our	approach	of	“Fair	Play	Banking.”		The	table	below	shows	our	competitive	ranking	and	market	share	based	on	deposits	of	FDIC-insured	institutions	as	of	June	30,	2020,	in	the	top	10	MSAs	in	which	we	compete:MSARankDeposits(in	millions)Market	ShareColumbus,	OH	1	$	28,347		34	%Cleveland,	OH	3		12,196		12	Detroit,	MI	6		9,919		5	Akron,	OH	1		4,875		29	Indianapolis,	IN	4		4,349		6	Cincinnati,	OH	5		4,199		3	Pittsburgh,	PA	9		3,559		2	Toledo,	OH	1		3,343		22	Grand	Rapids,	MI	2		3,080		11	Chicago,	IL	20		2,875		1	Source:	FDIC.gov,	based	on	June	30,	2020	survey.Many	of	our	nonfinancial	institution	competitors	have	fewer	regulatory	constraints,	broader	geographic	service	areas,	greater	capital,	and,	in	some	cases,	lower	cost	structures.		In	addition,	competition	for	quality	customers	has	intensified	as	a	result	of	changes	in	regulation,	advances	in	technology	and	product	delivery	systems,	and	consolidation	among	financial	service	providers.FinTechs	continue	to	emerge	in	key	areas	of	banking.		In	addition,	larger	established	technology	platform	companies	continue	to	evaluate,	and	in	some	cases,	create	businesses	focused	on	banking	products.		We	are	closely	monitoring	activity	in	the	marketplace	to	ensure	that	our	products	and	services	are	technologically	competitive.		Further,	we	continue	to	invest	in	and	evolve	our	innovation	program	to	develop,	incubate,	and	launch	new	products	and	services	driving	ongoing	differentiated	value	for	our	customers.		Our	overall	strategy	involves	an	active	corporate	development	program	that	seeks	to	identify	partnership	and	possible	investment	opportunities	in	technology-driven	companies	that	can	augment	our	distribution	and	product	capabilities.	2020	Form	10-K					11Regulatory	Matters
Regulatory	Matters

Regulatory	Environment
Regulatory	Environment

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	
The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	
federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	
regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	
regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	
depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole.
depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole.

Banking	statutes,	regulations,	and	policies	are	continually	under	review	by	Congress,	state	legislatures,	and	
Banking	statutes,	regulations,	and	policies	are	continually	under	review	by	Congress,	state	legislatures,	and	

federal	and	state	regulatory	agencies.		In	addition	to	laws	and	regulations,	state	and	federal	bank	regulatory	
federal	and	state	regulatory	agencies.		In	addition	to	laws	and	regulations,	state	and	federal	bank	regulatory	
agencies	may	issue	policy	statements,	interpretive	letters,	and	similar	written	guidance	applicable	to	Huntington	and	
agencies	may	issue	policy	statements,	interpretive	letters,	and	similar	written	guidance	applicable	to	Huntington	and	
its	subsidiaries.		Any	change	in	the	statutes,	regulations,	or	regulatory	policies	applicable	to	us,	including	changes	in	
its	subsidiaries.		Any	change	in	the	statutes,	regulations,	or	regulatory	policies	applicable	to	us,	including	changes	in	
their	interpretation	or	implementation,	could	have	a	material	effect	on	our	business	or	organization.		
their	interpretation	or	implementation,	could	have	a	material	effect	on	our	business	or	organization.		

On	May	24,	2018,	the	Economic	Growth	Act	was	signed	into	law,	which	amended,	among	other	regulatory	
On	May	24,	2018,	the	Economic	Growth	Act	was	signed	into	law,	which	amended,	among	other	regulatory	
changes,	various	sections	of	the	Dodd-Frank	Act.		In	October	2019,	the	Federal	Reserve	adopted	the	EPS	Tailoring	
changes,	various	sections	of	the	Dodd-Frank	Act.		In	October	2019,	the	Federal	Reserve	adopted	the	EPS	Tailoring	
Rule	pursuant	to	the	Economic	Growth	Act,	which	adjusted	the	thresholds	at	which	certain	enhanced	prudential	
Rule	pursuant	to	the	Economic	Growth	Act,	which	adjusted	the	thresholds	at	which	certain	enhanced	prudential	
standards	apply	to	U.S.	BHCs	with	$100	billion	or	more	in	total	consolidated	assets.		Also	in	October	2019,	the	
standards	apply	to	U.S.	BHCs	with	$100	billion	or	more	in	total	consolidated	assets.		Also	in	October	2019,	the	
Federal	Reserve,	OCC,	and	FDIC	adopted	the	Capital	and	Liquidity	Tailoring	Rule,	which	similarly	adjusted	the	
Federal	Reserve,	OCC,	and	FDIC	adopted	the	Capital	and	Liquidity	Tailoring	Rule,	which	similarly	adjusted	the	
thresholds	at	which	certain	other	capital	and	liquidity	standards	apply	to	U.S.	BHCs	and	banks	with	$100	billion	or	
thresholds	at	which	certain	other	capital	and	liquidity	standards	apply	to	U.S.	BHCs	and	banks	with	$100	billion	or	
more	in	total	consolidated	assets.		Under	the	Tailoring	Rules,	these	BHCs	and	banks,	including	Huntington	and	the	
more	in	total	consolidated	assets.		Under	the	Tailoring	Rules,	these	BHCs	and	banks,	including	Huntington	and	the	
Bank,	are	placed	into	one	of	four	risk-based	categories	based	on	the	banking	organization’s	size,	status	as	a	global	
Bank,	are	placed	into	one	of	four	risk-based	categories	based	on	the	banking	organization’s	size,	status	as	a	global	
systemically	important	bank	(or	not),	cross-jurisdictional	activity,	weighted	short-term	wholesale	funding,	nonbank	
systemically	important	bank	(or	not),	cross-jurisdictional	activity,	weighted	short-term	wholesale	funding,	nonbank	
assets,	and	off-balance	sheet	exposure.		The	extent	to	which	enhanced	prudential	standards	and	certain	other	
assets,	and	off-balance	sheet	exposure.		The	extent	to	which	enhanced	prudential	standards	and	certain	other	
capital	and	liquidity	standards	apply	to	these	BHCs	and	banks	depends	on	the	banking	organization’s	category.		
capital	and	liquidity	standards	apply	to	these	BHCs	and	banks	depends	on	the	banking	organization’s	category.		
Under	the	Tailoring	Rules,	Huntington	and	the	Bank	each	qualify	as	a	Category	IV	banking	organization	subject	to	the	
Under	the	Tailoring	Rules,	Huntington	and	the	Bank	each	qualify	as	a	Category	IV	banking	organization	subject	to	the	
least	restrictive	of	the	requirements	applicable	to	firms	with	$100	billion	or	more	in	total	consolidated	assets.
least	restrictive	of	the	requirements	applicable	to	firms	with	$100	billion	or	more	in	total	consolidated	assets.

As	a	result	of	the	Economic	Growth	Act	and	the	Tailoring	Rules,	Huntington	and	the	Bank	are	now	subject	to	less	
As	a	result	of	the	Economic	Growth	Act	and	the	Tailoring	Rules,	Huntington	and	the	Bank	are	now	subject	to	less	

restrictive	requirements	with	respect	to	certain	enhanced	prudential	standards	and	capital	and	liquidity	
restrictive	requirements	with	respect	to	certain	enhanced	prudential	standards	and	capital	and	liquidity	
requirements	than	in	past	years,	but	our	business	will	remain	subject	to	extensive	regulation	and	supervision.		The	
requirements	than	in	past	years,	but	our	business	will	remain	subject	to	extensive	regulation	and	supervision.		The	
U.S.	banking	agencies	may	issue	additional	rules	to	tailor	the	application	of	certain	other	regulatory	requirements	to	
U.S.	banking	agencies	may	issue	additional	rules	to	tailor	the	application	of	certain	other	regulatory	requirements	to	
BHCs	and	banks,	including	Huntington	and	the	Bank.
BHCs	and	banks,	including	Huntington	and	the	Bank.

We	are	also	subject	to	the	disclosure	and	regulatory	requirements	of	the	Securities	Act	of	1933,	as	amended,	
We	are	also	subject	to	the	disclosure	and	regulatory	requirements	of	the	Securities	Act	of	1933,	as	amended,	

and	the	Securities	Exchange	Act	of	1934,	as	amended,	both	as	administered	by	the	SEC,	as	well	as	the	rules	of	
and	the	Securities	Exchange	Act	of	1934,	as	amended,	both	as	administered	by	the	SEC,	as	well	as	the	rules	of	
Nasdaq	that	apply	to	companies	with	securities	listed	on	the	Nasdaq	Global	Select	Market.
Nasdaq	that	apply	to	companies	with	securities	listed	on	the	Nasdaq	Global	Select	Market.

The	following	discussion	describes	certain	elements	of	the	comprehensive	regulatory	framework	applicable	to	
The	following	discussion	describes	certain	elements	of	the	comprehensive	regulatory	framework	applicable	to	

us.		This	discussion	is	not	intended	to	describe	all	laws	and	regulations	applicable	to	Huntington,	the	Bank,	and	
us.		This	discussion	is	not	intended	to	describe	all	laws	and	regulations	applicable	to	Huntington,	the	Bank,	and	
Huntington’s	other	subsidiaries.
Huntington’s	other	subsidiaries.

Huntington	as	a	Bank	Holding	Company
Huntington	as	a	Bank	Holding	Company

Huntington	is	registered	as	a	BHC	with	the	Federal	Reserve	under	the	BHC	Act	and	qualifies	for	and	has	elected	
Huntington	is	registered	as	a	BHC	with	the	Federal	Reserve	under	the	BHC	Act	and	qualifies	for	and	has	elected	
to	become	a	FHC	under	the	GLBA.		As	a	FHC,	Huntington	is	permitted	to	engage	in,	and	be	affiliated	with	companies	
to	become	a	FHC	under	the	GLBA.		As	a	FHC,	Huntington	is	permitted	to	engage	in,	and	be	affiliated	with	companies	
engaging	in,	a	broader	range	of	activities	than	those	permitted	for	a	BHC.		BHCs	are	generally	restricted	to	engaging	
engaging	in,	a	broader	range	of	activities	than	those	permitted	for	a	BHC.		BHCs	are	generally	restricted	to	engaging	
in	the	business	of	banking,	managing	or	controlling	banks,	and	certain	other	activities	determined	by	the	Federal	
in	the	business	of	banking,	managing	or	controlling	banks,	and	certain	other	activities	determined	by	the	Federal	
Reserve	to	be	closely	related	to	banking.		FHCs	may	also	engage	in	activities	that	are	considered	to	be	financial	in	
Reserve	to	be	closely	related	to	banking.		FHCs	may	also	engage	in	activities	that	are	considered	to	be	financial	in	
nature,	as	well	as	those	incidental	or	complementary	to	financial	activities,	including	underwriting,	dealing	and	
nature,	as	well	as	those	incidental	or	complementary	to	financial	activities,	including	underwriting,	dealing	and	
making	markets	in	securities,	and	making	merchant	banking	investments	in	non-financial	companies.		Huntington	
making	markets	in	securities,	and	making	merchant	banking	investments	in	non-financial	companies.		Huntington	
and	the	Bank	must	each	remain	“well-capitalized”	and	“well	managed”	in	order	for	Huntington	to	maintain	its	status	
and	the	Bank	must	each	remain	“well-capitalized”	and	“well	managed”	in	order	for	Huntington	to	maintain	its	status	
as	a	FHC.		In	addition,	the	Bank	must	receive	a	CRA	rating	of	at	least	“Satisfactory”	at	its	most	recent	examination	for	
as	a	FHC.		In	addition,	the	Bank	must	receive	a	CRA	rating	of	at	least	“Satisfactory”	at	its	most	recent	examination	for	
Huntington	to	engage	in	the	full	range	of	activities	permissible	for	FHCs.		
Huntington	to	engage	in	the	full	range	of	activities	permissible	for	FHCs.		

Huntington	is	subject	to	primary	supervision,	regulation	and	examination	by	the	Federal	Reserve,	which	serves	
Huntington	is	subject	to	primary	supervision,	regulation	and	examination	by	the	Federal	Reserve,	which	serves	

as	the	primary	regulator	of	our	consolidated	organization.		The	primary	regulators	of	our	non-bank	subsidiaries	
as	the	primary	regulator	of	our	consolidated	organization.		The	primary	regulators	of	our	non-bank	subsidiaries	

directly	regulate	the	activities	of	those	subsidiaries,	with	the	Federal	Reserve	exercising	a	supervisory	role.		Such	

directly	regulate	the	activities	of	those	subsidiaries,	with	the	Federal	Reserve	exercising	a	supervisory	role.		Such	

non-bank	subsidiaries	include,	for	example,	broker-dealers	and	investment	advisers	both	registered	with	the	SEC.

non-bank	subsidiaries	include,	for	example,	broker-dealers	and	investment	advisers	both	registered	with	the	SEC.

The	Bank	as	a	National	Bank

The	Bank	as	a	National	Bank

The	Bank	is	a	national	banking	association	chartered	under	the	laws	of	the	United	States.		As	a	national	bank,	the	

The	Bank	is	a	national	banking	association	chartered	under	the	laws	of	the	United	States.		As	a	national	bank,	the	

activities	of	the	Bank	are	limited	to	those	specifically	authorized	under	the	National	Bank	Act	and	OCC	regulations.		

activities	of	the	Bank	are	limited	to	those	specifically	authorized	under	the	National	Bank	Act	and	OCC	regulations.		

The	Bank	is	subject	to	comprehensive	primary	supervision,	regulation,	and	examination	by	the	OCC.		As	a	member	of	

The	Bank	is	subject	to	comprehensive	primary	supervision,	regulation,	and	examination	by	the	OCC.		As	a	member	of	

the	DIF,	the	Bank	is	also	subject	to	regulation	and	examination	by	the	FDIC.

the	DIF,	the	Bank	is	also	subject	to	regulation	and	examination	by	the	FDIC.

Supervision,	Examination	and	Enforcement

Supervision,	Examination	and	Enforcement

A	principal	objective	of	the	U.S.	bank	regulatory	regime	is	to	protect	depositors	and	customers,	the	DIF,	the	U.S.	

A	principal	objective	of	the	U.S.	bank	regulatory	regime	is	to	protect	depositors	and	customers,	the	DIF,	the	U.S.	

banking	and	financial	system,	and	financial	markets	as	a	whole	by	ensuring	the	financial	safety	and	soundness	of	

banking	and	financial	system,	and	financial	markets	as	a	whole	by	ensuring	the	financial	safety	and	soundness	of	

BHCs	and	banks,	including	Huntington	and	the	Bank.		Bank	regulators	regularly	examine	the	operations	of	BHCs	and	

BHCs	and	banks,	including	Huntington	and	the	Bank.		Bank	regulators	regularly	examine	the	operations	of	BHCs	and	

banks.		In	addition,	BHCs	and	banks	are	subject	to	periodic	reporting	and	filing	requirements.

banks.		In	addition,	BHCs	and	banks	are	subject	to	periodic	reporting	and	filing	requirements.

The	Federal	Reserve,	OCC,	and	FDIC	have	broad	supervisory	and	enforcement	authority	with	regard	to	BHCs	and	

The	Federal	Reserve,	OCC,	and	FDIC	have	broad	supervisory	and	enforcement	authority	with	regard	to	BHCs	and	

banks,	including	the	power	to	conduct	examinations	and	investigations,	impose	nonpublic	supervisory	agreements,	

banks,	including	the	power	to	conduct	examinations	and	investigations,	impose	nonpublic	supervisory	agreements,	

issue	cease	and	desist	orders,	impose	fines	and	other	civil	and	criminal	penalties,	terminate	deposit	insurance,	and	

issue	cease	and	desist	orders,	impose	fines	and	other	civil	and	criminal	penalties,	terminate	deposit	insurance,	and	

appoint	a	conservator	or	receiver.		In	addition,	Huntington,	the	Bank,	and	other	Huntington	subsidiaries	are	subject	

appoint	a	conservator	or	receiver.		In	addition,	Huntington,	the	Bank,	and	other	Huntington	subsidiaries	are	subject	

to	supervision,	regulation,	and	examination	by	the	CFPB,	which	is	the	primary	administrator	of	most	federal	

to	supervision,	regulation,	and	examination	by	the	CFPB,	which	is	the	primary	administrator	of	most	federal	

consumer	financial	statutes	and	Huntington’s	primary	consumer	financial	regulator.		Supervision	and	examinations	

consumer	financial	statutes	and	Huntington’s	primary	consumer	financial	regulator.		Supervision	and	examinations	

are	confidential,	and	the	outcomes	of	these	actions	may	not	be	made	public.

are	confidential,	and	the	outcomes	of	these	actions	may	not	be	made	public.

Bank	regulators	have	various	remedies	available	if	they	determine	that	the	financial	condition,	capital	resources,	

Bank	regulators	have	various	remedies	available	if	they	determine	that	the	financial	condition,	capital	resources,	

asset	quality,	earnings	prospects,	management,	liquidity,	or	other	aspects	of	a	banking	organization’s	operations	are	

asset	quality,	earnings	prospects,	management,	liquidity,	or	other	aspects	of	a	banking	organization’s	operations	are	

unsatisfactory.		The	regulators	may	also	take	action	if	they	determine	that	the	banking	organization	or	its	

unsatisfactory.		The	regulators	may	also	take	action	if	they	determine	that	the	banking	organization	or	its	

management	is	violating	or	has	violated	any	law	or	regulation.		The	regulators	have	the	power	to,	among	other	

management	is	violating	or	has	violated	any	law	or	regulation.		The	regulators	have	the	power	to,	among	other	

things,	prohibit	unsafe	or	unsound	practices,	require	affirmative	actions	to	correct	any	violation	or	practice,	issue	

things,	prohibit	unsafe	or	unsound	practices,	require	affirmative	actions	to	correct	any	violation	or	practice,	issue	

administrative	orders	that	can	be	judicially	enforced,	direct	increases	in	capital,	direct	the	sale	of	subsidiaries	or	

administrative	orders	that	can	be	judicially	enforced,	direct	increases	in	capital,	direct	the	sale	of	subsidiaries	or	

other	assets,	limit	dividends	and	distributions,	restrict	growth,	assess	civil	monetary	penalties,	remove	officers	and	

other	assets,	limit	dividends	and	distributions,	restrict	growth,	assess	civil	monetary	penalties,	remove	officers	and	

directors,	and	terminate	deposit	insurance.

directors,	and	terminate	deposit	insurance.

Engaging	in	unsafe	or	unsound	practices	or	failing	to	comply	with	applicable	laws,	regulations,	and	supervisory	

Engaging	in	unsafe	or	unsound	practices	or	failing	to	comply	with	applicable	laws,	regulations,	and	supervisory	

agreements	could	subject	the	Company,	its	subsidiaries,	and	their	respective	officers,	directors,	and	institution-

agreements	could	subject	the	Company,	its	subsidiaries,	and	their	respective	officers,	directors,	and	institution-

affiliated	parties	to	the	remedies	described	above,	and	other	sanctions.		In	addition,	the	FDIC	may	terminate	a	

affiliated	parties	to	the	remedies	described	above,	and	other	sanctions.		In	addition,	the	FDIC	may	terminate	a	

bank’s	deposit	insurance	upon	a	finding	that	the	bank’s	financial	condition	is	unsafe	or	unsound	or	that	the	bank	has	

bank’s	deposit	insurance	upon	a	finding	that	the	bank’s	financial	condition	is	unsafe	or	unsound	or	that	the	bank	has	

engaged	in	unsafe	or	unsound	practices	or	has	violated	an	applicable	rule,	regulation,	order,	or	condition	enacted	or	

engaged	in	unsafe	or	unsound	practices	or	has	violated	an	applicable	rule,	regulation,	order,	or	condition	enacted	or	

imposed	by	the	bank’s	regulatory	agency.

imposed	by	the	bank’s	regulatory	agency.

In	November	2018,	the	Federal	Reserve	adopted	a	new	rating	system,	the	LFI	Rating	System,	to	align	its	

In	November	2018,	the	Federal	Reserve	adopted	a	new	rating	system,	the	LFI	Rating	System,	to	align	its	

supervisory	rating	system	for	large	financial	institutions,	including	Huntington,	with	its	current	supervisory	programs	

supervisory	rating	system	for	large	financial	institutions,	including	Huntington,	with	its	current	supervisory	programs	

for	these	firms.		As	compared	to	the	rating	system	it	replaces,	which	will	continue	to	be	used	for	smaller	BHCs,	the	

for	these	firms.		As	compared	to	the	rating	system	it	replaces,	which	will	continue	to	be	used	for	smaller	BHCs,	the	

LFI	Rating	System	places	a	greater	emphasis	on	capital	and	liquidity,	including	related	planning	and	risk	management	

LFI	Rating	System	places	a	greater	emphasis	on	capital	and	liquidity,	including	related	planning	and	risk	management	

practices.		Huntington	received	its	first	rating	under	the	LFI	Rating	System	in	2020.		These	ratings	will	remain	

practices.		Huntington	received	its	first	rating	under	the	LFI	Rating	System	in	2020.		These	ratings	will	remain	

confidential.

confidential.

Bank	Acquisitions	by	Huntington

Bank	Acquisitions	by	Huntington

BHCs,	such	as	Huntington,	must	obtain	prior	approval	of	the	Federal	Reserve	in	connection	with	any	acquisition	

BHCs,	such	as	Huntington,	must	obtain	prior	approval	of	the	Federal	Reserve	in	connection	with	any	acquisition	

that	results	in	the	BHC	owning	or	controlling	5%	or	more	of	any	class	of	voting	securities	of	a	bank	or	another	BHC.

that	results	in	the	BHC	owning	or	controlling	5%	or	more	of	any	class	of	voting	securities	of	a	bank	or	another	BHC.

Acquisitions	of	Ownership	of	the	Company

Acquisitions	of	Ownership	of	the	Company

Acquisitions	of	Huntington’s	voting	stock	above	certain	thresholds	are	subject	to	prior	regulatory	notice	or	

Acquisitions	of	Huntington’s	voting	stock	above	certain	thresholds	are	subject	to	prior	regulatory	notice	or	

approval	under	federal	banking	laws,	including	the	BHC	Act	and	the	Change	in	Bank	Control	Act	of	1978.		Under	the	

approval	under	federal	banking	laws,	including	the	BHC	Act	and	the	Change	in	Bank	Control	Act	of	1978.		Under	the	

Change	in	Bank	Control	Act,	a	person	or	entity	generally	must	provide	prior	notice	to	the	Federal	Reserve	before	

Change	in	Bank	Control	Act,	a	person	or	entity	generally	must	provide	prior	notice	to	the	Federal	Reserve	before	

12					Huntington	Bancshares	Incorporated
12					Huntington	Bancshares	Incorporated

2020	Form	10-K					13

2020	Form	10-K					13

Regulatory	Matters

Regulatory	Matters

Regulatory	Environment

Regulatory	Environment

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	

regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	

regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	

depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole.

depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole.

Banking	statutes,	regulations,	and	policies	are	continually	under	review	by	Congress,	state	legislatures,	and	

Banking	statutes,	regulations,	and	policies	are	continually	under	review	by	Congress,	state	legislatures,	and	

federal	and	state	regulatory	agencies.		In	addition	to	laws	and	regulations,	state	and	federal	bank	regulatory	

federal	and	state	regulatory	agencies.		In	addition	to	laws	and	regulations,	state	and	federal	bank	regulatory	

agencies	may	issue	policy	statements,	interpretive	letters,	and	similar	written	guidance	applicable	to	Huntington	and	

agencies	may	issue	policy	statements,	interpretive	letters,	and	similar	written	guidance	applicable	to	Huntington	and	

its	subsidiaries.		Any	change	in	the	statutes,	regulations,	or	regulatory	policies	applicable	to	us,	including	changes	in	

its	subsidiaries.		Any	change	in	the	statutes,	regulations,	or	regulatory	policies	applicable	to	us,	including	changes	in	

their	interpretation	or	implementation,	could	have	a	material	effect	on	our	business	or	organization.		

their	interpretation	or	implementation,	could	have	a	material	effect	on	our	business	or	organization.		

On	May	24,	2018,	the	Economic	Growth	Act	was	signed	into	law,	which	amended,	among	other	regulatory	

On	May	24,	2018,	the	Economic	Growth	Act	was	signed	into	law,	which	amended,	among	other	regulatory	

changes,	various	sections	of	the	Dodd-Frank	Act.		In	October	2019,	the	Federal	Reserve	adopted	the	EPS	Tailoring	

changes,	various	sections	of	the	Dodd-Frank	Act.		In	October	2019,	the	Federal	Reserve	adopted	the	EPS	Tailoring	

Rule	pursuant	to	the	Economic	Growth	Act,	which	adjusted	the	thresholds	at	which	certain	enhanced	prudential	

Rule	pursuant	to	the	Economic	Growth	Act,	which	adjusted	the	thresholds	at	which	certain	enhanced	prudential	

standards	apply	to	U.S.	BHCs	with	$100	billion	or	more	in	total	consolidated	assets.		Also	in	October	2019,	the	

standards	apply	to	U.S.	BHCs	with	$100	billion	or	more	in	total	consolidated	assets.		Also	in	October	2019,	the	

Federal	Reserve,	OCC,	and	FDIC	adopted	the	Capital	and	Liquidity	Tailoring	Rule,	which	similarly	adjusted	the	

Federal	Reserve,	OCC,	and	FDIC	adopted	the	Capital	and	Liquidity	Tailoring	Rule,	which	similarly	adjusted	the	

thresholds	at	which	certain	other	capital	and	liquidity	standards	apply	to	U.S.	BHCs	and	banks	with	$100	billion	or	

thresholds	at	which	certain	other	capital	and	liquidity	standards	apply	to	U.S.	BHCs	and	banks	with	$100	billion	or	

more	in	total	consolidated	assets.		Under	the	Tailoring	Rules,	these	BHCs	and	banks,	including	Huntington	and	the	

more	in	total	consolidated	assets.		Under	the	Tailoring	Rules,	these	BHCs	and	banks,	including	Huntington	and	the	

Bank,	are	placed	into	one	of	four	risk-based	categories	based	on	the	banking	organization’s	size,	status	as	a	global	

Bank,	are	placed	into	one	of	four	risk-based	categories	based	on	the	banking	organization’s	size,	status	as	a	global	

systemically	important	bank	(or	not),	cross-jurisdictional	activity,	weighted	short-term	wholesale	funding,	nonbank	

systemically	important	bank	(or	not),	cross-jurisdictional	activity,	weighted	short-term	wholesale	funding,	nonbank	

assets,	and	off-balance	sheet	exposure.		The	extent	to	which	enhanced	prudential	standards	and	certain	other	

assets,	and	off-balance	sheet	exposure.		The	extent	to	which	enhanced	prudential	standards	and	certain	other	

capital	and	liquidity	standards	apply	to	these	BHCs	and	banks	depends	on	the	banking	organization’s	category.		

capital	and	liquidity	standards	apply	to	these	BHCs	and	banks	depends	on	the	banking	organization’s	category.		

Under	the	Tailoring	Rules,	Huntington	and	the	Bank	each	qualify	as	a	Category	IV	banking	organization	subject	to	the	

Under	the	Tailoring	Rules,	Huntington	and	the	Bank	each	qualify	as	a	Category	IV	banking	organization	subject	to	the	

least	restrictive	of	the	requirements	applicable	to	firms	with	$100	billion	or	more	in	total	consolidated	assets.

least	restrictive	of	the	requirements	applicable	to	firms	with	$100	billion	or	more	in	total	consolidated	assets.

As	a	result	of	the	Economic	Growth	Act	and	the	Tailoring	Rules,	Huntington	and	the	Bank	are	now	subject	to	less	

As	a	result	of	the	Economic	Growth	Act	and	the	Tailoring	Rules,	Huntington	and	the	Bank	are	now	subject	to	less	

restrictive	requirements	with	respect	to	certain	enhanced	prudential	standards	and	capital	and	liquidity	

restrictive	requirements	with	respect	to	certain	enhanced	prudential	standards	and	capital	and	liquidity	

requirements	than	in	past	years,	but	our	business	will	remain	subject	to	extensive	regulation	and	supervision.		The	

requirements	than	in	past	years,	but	our	business	will	remain	subject	to	extensive	regulation	and	supervision.		The	

U.S.	banking	agencies	may	issue	additional	rules	to	tailor	the	application	of	certain	other	regulatory	requirements	to	

U.S.	banking	agencies	may	issue	additional	rules	to	tailor	the	application	of	certain	other	regulatory	requirements	to	

BHCs	and	banks,	including	Huntington	and	the	Bank.

BHCs	and	banks,	including	Huntington	and	the	Bank.

We	are	also	subject	to	the	disclosure	and	regulatory	requirements	of	the	Securities	Act	of	1933,	as	amended,	

We	are	also	subject	to	the	disclosure	and	regulatory	requirements	of	the	Securities	Act	of	1933,	as	amended,	

and	the	Securities	Exchange	Act	of	1934,	as	amended,	both	as	administered	by	the	SEC,	as	well	as	the	rules	of	

and	the	Securities	Exchange	Act	of	1934,	as	amended,	both	as	administered	by	the	SEC,	as	well	as	the	rules	of	

Nasdaq	that	apply	to	companies	with	securities	listed	on	the	Nasdaq	Global	Select	Market.

Nasdaq	that	apply	to	companies	with	securities	listed	on	the	Nasdaq	Global	Select	Market.

The	following	discussion	describes	certain	elements	of	the	comprehensive	regulatory	framework	applicable	to	

The	following	discussion	describes	certain	elements	of	the	comprehensive	regulatory	framework	applicable	to	

us.		This	discussion	is	not	intended	to	describe	all	laws	and	regulations	applicable	to	Huntington,	the	Bank,	and	

us.		This	discussion	is	not	intended	to	describe	all	laws	and	regulations	applicable	to	Huntington,	the	Bank,	and	

Huntington’s	other	subsidiaries.

Huntington’s	other	subsidiaries.

Huntington	as	a	Bank	Holding	Company

Huntington	as	a	Bank	Holding	Company

Huntington	is	registered	as	a	BHC	with	the	Federal	Reserve	under	the	BHC	Act	and	qualifies	for	and	has	elected	

Huntington	is	registered	as	a	BHC	with	the	Federal	Reserve	under	the	BHC	Act	and	qualifies	for	and	has	elected	

to	become	a	FHC	under	the	GLBA.		As	a	FHC,	Huntington	is	permitted	to	engage	in,	and	be	affiliated	with	companies	

to	become	a	FHC	under	the	GLBA.		As	a	FHC,	Huntington	is	permitted	to	engage	in,	and	be	affiliated	with	companies	

engaging	in,	a	broader	range	of	activities	than	those	permitted	for	a	BHC.		BHCs	are	generally	restricted	to	engaging	

engaging	in,	a	broader	range	of	activities	than	those	permitted	for	a	BHC.		BHCs	are	generally	restricted	to	engaging	

in	the	business	of	banking,	managing	or	controlling	banks,	and	certain	other	activities	determined	by	the	Federal	

in	the	business	of	banking,	managing	or	controlling	banks,	and	certain	other	activities	determined	by	the	Federal	

Reserve	to	be	closely	related	to	banking.		FHCs	may	also	engage	in	activities	that	are	considered	to	be	financial	in	

Reserve	to	be	closely	related	to	banking.		FHCs	may	also	engage	in	activities	that	are	considered	to	be	financial	in	

nature,	as	well	as	those	incidental	or	complementary	to	financial	activities,	including	underwriting,	dealing	and	

nature,	as	well	as	those	incidental	or	complementary	to	financial	activities,	including	underwriting,	dealing	and	

making	markets	in	securities,	and	making	merchant	banking	investments	in	non-financial	companies.		Huntington	

making	markets	in	securities,	and	making	merchant	banking	investments	in	non-financial	companies.		Huntington	

and	the	Bank	must	each	remain	“well-capitalized”	and	“well	managed”	in	order	for	Huntington	to	maintain	its	status	

and	the	Bank	must	each	remain	“well-capitalized”	and	“well	managed”	in	order	for	Huntington	to	maintain	its	status	

as	a	FHC.		In	addition,	the	Bank	must	receive	a	CRA	rating	of	at	least	“Satisfactory”	at	its	most	recent	examination	for	

as	a	FHC.		In	addition,	the	Bank	must	receive	a	CRA	rating	of	at	least	“Satisfactory”	at	its	most	recent	examination	for	

Huntington	to	engage	in	the	full	range	of	activities	permissible	for	FHCs.		

Huntington	to	engage	in	the	full	range	of	activities	permissible	for	FHCs.		

Huntington	is	subject	to	primary	supervision,	regulation	and	examination	by	the	Federal	Reserve,	which	serves	

Huntington	is	subject	to	primary	supervision,	regulation	and	examination	by	the	Federal	Reserve,	which	serves	

as	the	primary	regulator	of	our	consolidated	organization.		The	primary	regulators	of	our	non-bank	subsidiaries	

as	the	primary	regulator	of	our	consolidated	organization.		The	primary	regulators	of	our	non-bank	subsidiaries	

directly	regulate	the	activities	of	those	subsidiaries,	with	the	Federal	Reserve	exercising	a	supervisory	role.		Such	
directly	regulate	the	activities	of	those	subsidiaries,	with	the	Federal	Reserve	exercising	a	supervisory	role.		Such	
non-bank	subsidiaries	include,	for	example,	broker-dealers	and	investment	advisers	both	registered	with	the	SEC.
non-bank	subsidiaries	include,	for	example,	broker-dealers	and	investment	advisers	both	registered	with	the	SEC.

The	Bank	as	a	National	Bank
The	Bank	as	a	National	Bank

The	Bank	is	a	national	banking	association	chartered	under	the	laws	of	the	United	States.		As	a	national	bank,	the	
The	Bank	is	a	national	banking	association	chartered	under	the	laws	of	the	United	States.		As	a	national	bank,	the	

activities	of	the	Bank	are	limited	to	those	specifically	authorized	under	the	National	Bank	Act	and	OCC	regulations.		
activities	of	the	Bank	are	limited	to	those	specifically	authorized	under	the	National	Bank	Act	and	OCC	regulations.		
The	Bank	is	subject	to	comprehensive	primary	supervision,	regulation,	and	examination	by	the	OCC.		As	a	member	of	
The	Bank	is	subject	to	comprehensive	primary	supervision,	regulation,	and	examination	by	the	OCC.		As	a	member	of	
the	DIF,	the	Bank	is	also	subject	to	regulation	and	examination	by	the	FDIC.
the	DIF,	the	Bank	is	also	subject	to	regulation	and	examination	by	the	FDIC.

Supervision,	Examination	and	Enforcement
Supervision,	Examination	and	Enforcement

A	principal	objective	of	the	U.S.	bank	regulatory	regime	is	to	protect	depositors	and	customers,	the	DIF,	the	U.S.	
A	principal	objective	of	the	U.S.	bank	regulatory	regime	is	to	protect	depositors	and	customers,	the	DIF,	the	U.S.	

banking	and	financial	system,	and	financial	markets	as	a	whole	by	ensuring	the	financial	safety	and	soundness	of	
banking	and	financial	system,	and	financial	markets	as	a	whole	by	ensuring	the	financial	safety	and	soundness	of	
BHCs	and	banks,	including	Huntington	and	the	Bank.		Bank	regulators	regularly	examine	the	operations	of	BHCs	and	
BHCs	and	banks,	including	Huntington	and	the	Bank.		Bank	regulators	regularly	examine	the	operations	of	BHCs	and	
banks.		In	addition,	BHCs	and	banks	are	subject	to	periodic	reporting	and	filing	requirements.
banks.		In	addition,	BHCs	and	banks	are	subject	to	periodic	reporting	and	filing	requirements.

The	Federal	Reserve,	OCC,	and	FDIC	have	broad	supervisory	and	enforcement	authority	with	regard	to	BHCs	and	
The	Federal	Reserve,	OCC,	and	FDIC	have	broad	supervisory	and	enforcement	authority	with	regard	to	BHCs	and	
banks,	including	the	power	to	conduct	examinations	and	investigations,	impose	nonpublic	supervisory	agreements,	
banks,	including	the	power	to	conduct	examinations	and	investigations,	impose	nonpublic	supervisory	agreements,	
issue	cease	and	desist	orders,	impose	fines	and	other	civil	and	criminal	penalties,	terminate	deposit	insurance,	and	
issue	cease	and	desist	orders,	impose	fines	and	other	civil	and	criminal	penalties,	terminate	deposit	insurance,	and	
appoint	a	conservator	or	receiver.		In	addition,	Huntington,	the	Bank,	and	other	Huntington	subsidiaries	are	subject	
appoint	a	conservator	or	receiver.		In	addition,	Huntington,	the	Bank,	and	other	Huntington	subsidiaries	are	subject	
to	supervision,	regulation,	and	examination	by	the	CFPB,	which	is	the	primary	administrator	of	most	federal	
to	supervision,	regulation,	and	examination	by	the	CFPB,	which	is	the	primary	administrator	of	most	federal	
consumer	financial	statutes	and	Huntington’s	primary	consumer	financial	regulator.		Supervision	and	examinations	
consumer	financial	statutes	and	Huntington’s	primary	consumer	financial	regulator.		Supervision	and	examinations	
are	confidential,	and	the	outcomes	of	these	actions	may	not	be	made	public.
are	confidential,	and	the	outcomes	of	these	actions	may	not	be	made	public.

Bank	regulators	have	various	remedies	available	if	they	determine	that	the	financial	condition,	capital	resources,	
Bank	regulators	have	various	remedies	available	if	they	determine	that	the	financial	condition,	capital	resources,	
asset	quality,	earnings	prospects,	management,	liquidity,	or	other	aspects	of	a	banking	organization’s	operations	are	
asset	quality,	earnings	prospects,	management,	liquidity,	or	other	aspects	of	a	banking	organization’s	operations	are	
unsatisfactory.		The	regulators	may	also	take	action	if	they	determine	that	the	banking	organization	or	its	
unsatisfactory.		The	regulators	may	also	take	action	if	they	determine	that	the	banking	organization	or	its	
management	is	violating	or	has	violated	any	law	or	regulation.		The	regulators	have	the	power	to,	among	other	
management	is	violating	or	has	violated	any	law	or	regulation.		The	regulators	have	the	power	to,	among	other	
things,	prohibit	unsafe	or	unsound	practices,	require	affirmative	actions	to	correct	any	violation	or	practice,	issue	
things,	prohibit	unsafe	or	unsound	practices,	require	affirmative	actions	to	correct	any	violation	or	practice,	issue	
administrative	orders	that	can	be	judicially	enforced,	direct	increases	in	capital,	direct	the	sale	of	subsidiaries	or	
administrative	orders	that	can	be	judicially	enforced,	direct	increases	in	capital,	direct	the	sale	of	subsidiaries	or	
other	assets,	limit	dividends	and	distributions,	restrict	growth,	assess	civil	monetary	penalties,	remove	officers	and	
other	assets,	limit	dividends	and	distributions,	restrict	growth,	assess	civil	monetary	penalties,	remove	officers	and	
directors,	and	terminate	deposit	insurance.
directors,	and	terminate	deposit	insurance.

Engaging	in	unsafe	or	unsound	practices	or	failing	to	comply	with	applicable	laws,	regulations,	and	supervisory	
Engaging	in	unsafe	or	unsound	practices	or	failing	to	comply	with	applicable	laws,	regulations,	and	supervisory	

agreements	could	subject	the	Company,	its	subsidiaries,	and	their	respective	officers,	directors,	and	institution-
agreements	could	subject	the	Company,	its	subsidiaries,	and	their	respective	officers,	directors,	and	institution-
affiliated	parties	to	the	remedies	described	above,	and	other	sanctions.		In	addition,	the	FDIC	may	terminate	a	
affiliated	parties	to	the	remedies	described	above,	and	other	sanctions.		In	addition,	the	FDIC	may	terminate	a	
bank’s	deposit	insurance	upon	a	finding	that	the	bank’s	financial	condition	is	unsafe	or	unsound	or	that	the	bank	has	
bank’s	deposit	insurance	upon	a	finding	that	the	bank’s	financial	condition	is	unsafe	or	unsound	or	that	the	bank	has	
engaged	in	unsafe	or	unsound	practices	or	has	violated	an	applicable	rule,	regulation,	order,	or	condition	enacted	or	
engaged	in	unsafe	or	unsound	practices	or	has	violated	an	applicable	rule,	regulation,	order,	or	condition	enacted	or	
imposed	by	the	bank’s	regulatory	agency.
imposed	by	the	bank’s	regulatory	agency.

In	November	2018,	the	Federal	Reserve	adopted	a	new	rating	system,	the	LFI	Rating	System,	to	align	its	
In	November	2018,	the	Federal	Reserve	adopted	a	new	rating	system,	the	LFI	Rating	System,	to	align	its	

supervisory	rating	system	for	large	financial	institutions,	including	Huntington,	with	its	current	supervisory	programs	
supervisory	rating	system	for	large	financial	institutions,	including	Huntington,	with	its	current	supervisory	programs	
for	these	firms.		As	compared	to	the	rating	system	it	replaces,	which	will	continue	to	be	used	for	smaller	BHCs,	the	
for	these	firms.		As	compared	to	the	rating	system	it	replaces,	which	will	continue	to	be	used	for	smaller	BHCs,	the	
LFI	Rating	System	places	a	greater	emphasis	on	capital	and	liquidity,	including	related	planning	and	risk	management	
LFI	Rating	System	places	a	greater	emphasis	on	capital	and	liquidity,	including	related	planning	and	risk	management	
practices.		Huntington	received	its	first	rating	under	the	LFI	Rating	System	in	2020.		These	ratings	will	remain	
practices.		Huntington	received	its	first	rating	under	the	LFI	Rating	System	in	2020.		These	ratings	will	remain	
confidential.
confidential.

Bank	Acquisitions	by	Huntington
Bank	Acquisitions	by	Huntington

BHCs,	such	as	Huntington,	must	obtain	prior	approval	of	the	Federal	Reserve	in	connection	with	any	acquisition	
BHCs,	such	as	Huntington,	must	obtain	prior	approval	of	the	Federal	Reserve	in	connection	with	any	acquisition	

that	results	in	the	BHC	owning	or	controlling	5%	or	more	of	any	class	of	voting	securities	of	a	bank	or	another	BHC.
that	results	in	the	BHC	owning	or	controlling	5%	or	more	of	any	class	of	voting	securities	of	a	bank	or	another	BHC.

Acquisitions	of	Ownership	of	the	Company
Acquisitions	of	Ownership	of	the	Company

Acquisitions	of	Huntington’s	voting	stock	above	certain	thresholds	are	subject	to	prior	regulatory	notice	or	
Acquisitions	of	Huntington’s	voting	stock	above	certain	thresholds	are	subject	to	prior	regulatory	notice	or	
approval	under	federal	banking	laws,	including	the	BHC	Act	and	the	Change	in	Bank	Control	Act	of	1978.		Under	the	
approval	under	federal	banking	laws,	including	the	BHC	Act	and	the	Change	in	Bank	Control	Act	of	1978.		Under	the	
Change	in	Bank	Control	Act,	a	person	or	entity	generally	must	provide	prior	notice	to	the	Federal	Reserve	before	
Change	in	Bank	Control	Act,	a	person	or	entity	generally	must	provide	prior	notice	to	the	Federal	Reserve	before	

12					Huntington	Bancshares	Incorporated

12					Huntington	Bancshares	Incorporated

2020	Form	10-K					13
2020	Form	10-K					13

acquiring	the	power	to	vote	10%	or	more	of	our	outstanding	common	stock.		Investors	should	be	aware	of	these	requirements	when	acquiring	shares	in	our	stock.Interstate	BankingUnder	the	Riegle-Neal	Act,	a	BHC	may	acquire	banks	in	states	other	than	its	home	state,	subject	to	any	state	requirement	that	the	bank	has	been	organized	and	operating	for	a	minimum	period	of	time,	not	to	exceed	five	years,	and	the	requirement	that	the	BHC	not	control,	prior	to	or	following	the	proposed	acquisition,	more	than	10%	of	the	total	amount	of	deposits	of	insured	depository	institutions	nationwide	or,	unless	the	acquisition	is	the	BHC’s	initial	entry	into	the	state,	more	than	30%	of	such	deposits	in	the	state	(or	such	lesser	or	greater	amount	set	by	the	state).		The	Riegle-Neal	Act	also	authorizes	banks	to	merge	across	state	lines,	thereby	creating	interstate	branches.		A	national	bank,	such	as	the	Bank,	with	the	approval	of	the	OCC	may	open	a	branch	in	any	state	if	the	law	of	that	state	would	permit	a	state	bank	chartered	in	that	state	to	establish	the	branch.Regulatory	Capital	RequirementsHuntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.		These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity,	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures,	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:•CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.		Effective	April	1,	2020,	Huntington	and	the	Bank	adopted	rules	issued	by	regulators	that	simplified	the	capital	treatment	of	mortgage	servicing	assets,	deferred	tax	assets	arising	from	temporary	differences	that	an	institution	could	not	realize	through	net	operating	loss	carrybacks,	and	investments	in	the	capital	of	unconsolidated	financial	institutions,	as	well	as	simplified	the	recognition	and	calculation	of	minority	interests	that	are	includable	in	regulatory	capital.•Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock,	and	certain	qualifying	capital	instruments.		•Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital,	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.		•Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets,	and	certain	other	deductions).		In	December	2018,	the	U.S.	federal	banking	agencies	finalized	rules	that	permit	BHCs	and	banks	to	phase-in	the	day-one	retained	earnings	impact	of	the	new	CECL	accounting	rule	over	a	period	of	three	years	for	regulatory	capital	purposes.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	agencies	issued	another	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period	beginning	January	1,	2022.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	and	the	Bank	have	elected	to	adopt	this	final	rule.		For	further	discussion	of	the	new	CECL	accounting	rule,	see	Note	2	of	the	Notes	to	Consolidated	Financial	Statements.	In	August	2020,	the	U.S.	federal	banking	agencies	adopted	a	final	rule	altering	the	definition	of	eligible	retained	income	in	their	respective	capital	rules.		Under	the	new	rule,	eligible	retained	income	is	the	greater	of	a	firm’s	(i)	net	income	over	the	four	preceding	calendar	quarters,	net	of	any	distributions	and	associated	tax	effects	not	already	14					Huntington	Bancshares	Incorporatedreflected	in	net	income,	and	(ii)	average	net	income	over	the	preceding	four	quarters.	This	definition	applies	with	respect	to	all	of	Huntington’s	capital	requirements.	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.		The	Federal	Reserve	has	not	yet	revised	the	well-capitalized	standard	for	BHCs	to	reflect	the	higher	capital	requirements	imposed	under	the	U.S.	Basel	III	capital	rules.		For	purposes	of	the	Federal	Reserve’s	Regulation	Y,	including	determining	whether	a	BHC	meets	the	requirements	to	be	an	FHC,	BHCs,	such	as	Huntington,	must	maintain	a	Tier	1	Risk-Based	Capital	Ratio	of	6.0%	or	greater	and	a	Total	Risk-Based	Capital	Ratio	of	10.0%	or	greater.		If	the	Federal	Reserve	were	to	apply	the	same	or	a	very	similar	well-capitalized	standard	to	BHCs	as	that	applicable	to	the	Bank,	Huntington’s	capital	ratios	as	of	December	31,	2020,	would	exceed	such	revised	well-capitalized	standard.		The	Federal	Reserve	may	require	BHCs,	including	Huntington,	to	maintain	capital	ratios	substantially	in	excess	of	mandated	minimum	levels,	depending	upon	general	economic	conditions	and	a	BHC’s	particular	condition,	risk	profile,	and	growth	plans.Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules,	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	2.5%	and	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		The	Tier	1	Leverage	Ratio	is	not	impacted	by	the	Capital	Conservation	Buffer,	and	a	banking	institution	may	be	considered	well-capitalized	while	remaining	out	of	compliance	with	the	Capital	Conservation	Buffer.		In	March	2020,	the	Federal	Reserve	issued	a	final	rule	that,	among	other	things,	replaced	the	Capital	Conservation	Buffer	with	stress	buffer	requirements	for	certain	large	BHCs,	including	Huntington.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	for	further	details.The	following	table	presents	the	minimum	regulatory	capital	ratios,	minimum	ratio	plus	capital	conservation	buffer,	and	well-capitalized	minimums	compared	with	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.Minimum	Regulatory	Capital	RatioMinimum	Ratio	+	Capital	Conservation	Buffer	(1)Well-CapitalizedMinimums	(2)At	December	31,	2020ActualRatios:CET	1	risk-based	capital	ratioConsolidated	4.50	%	7.00	%N/A	10.00	%Bank	4.50		7.00		6.50	%	10.65	Tier	1	risk-based	capital	ratioConsolidated	6.00		8.50		6.00		12.47	Bank	6.00		8.50		8.00		11.97	Total	risk-based	capital	ratioConsolidated	8.00		10.50		10.00		14.46	Bank	8.00		10.50		10.00		13.58	Tier	1	leverage	ratioConsolidated	4.00	N/AN/A	9.32	Bank	4.00	N/A	5.00		8.94	(1)	Reflects	a	stress	capital	buffer	of	2.5%	for	Huntington	and	the	capital	conservation	buffer	of	2.5%	for	the	Bank.(2)	Reflects	the	well-capitalized	standard	applicable	to	Huntington	under	Federal	Reserve	Regulation	Y	and	the	well-capitalized	standard	applicable	to	the	Bank.Huntington	has	the	ability	to	provide	additional	capital	to	the	Bank	to	maintain	the	Bank’s	risk-based	capital	ratios	at	levels	which	would	be	considered	well-capitalized.As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.	2020	Form	10-K					15acquiring	the	power	to	vote	10%	or	more	of	our	outstanding	common	stock.		Investors	should	be	aware	of	these	requirements	when	acquiring	shares	in	our	stock.Interstate	BankingUnder	the	Riegle-Neal	Act,	a	BHC	may	acquire	banks	in	states	other	than	its	home	state,	subject	to	any	state	requirement	that	the	bank	has	been	organized	and	operating	for	a	minimum	period	of	time,	not	to	exceed	five	years,	and	the	requirement	that	the	BHC	not	control,	prior	to	or	following	the	proposed	acquisition,	more	than	10%	of	the	total	amount	of	deposits	of	insured	depository	institutions	nationwide	or,	unless	the	acquisition	is	the	BHC’s	initial	entry	into	the	state,	more	than	30%	of	such	deposits	in	the	state	(or	such	lesser	or	greater	amount	set	by	the	state).		The	Riegle-Neal	Act	also	authorizes	banks	to	merge	across	state	lines,	thereby	creating	interstate	branches.		A	national	bank,	such	as	the	Bank,	with	the	approval	of	the	OCC	may	open	a	branch	in	any	state	if	the	law	of	that	state	would	permit	a	state	bank	chartered	in	that	state	to	establish	the	branch.Regulatory	Capital	RequirementsHuntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.		These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity,	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures,	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:•CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.		Effective	April	1,	2020,	Huntington	and	the	Bank	adopted	rules	issued	by	regulators	that	simplified	the	capital	treatment	of	mortgage	servicing	assets,	deferred	tax	assets	arising	from	temporary	differences	that	an	institution	could	not	realize	through	net	operating	loss	carrybacks,	and	investments	in	the	capital	of	unconsolidated	financial	institutions,	as	well	as	simplified	the	recognition	and	calculation	of	minority	interests	that	are	includable	in	regulatory	capital.•Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock,	and	certain	qualifying	capital	instruments.		•Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital,	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.		•Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets,	and	certain	other	deductions).		In	December	2018,	the	U.S.	federal	banking	agencies	finalized	rules	that	permit	BHCs	and	banks	to	phase-in	the	day-one	retained	earnings	impact	of	the	new	CECL	accounting	rule	over	a	period	of	three	years	for	regulatory	capital	purposes.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	agencies	issued	another	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period	beginning	January	1,	2022.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	and	the	Bank	have	elected	to	adopt	this	final	rule.		For	further	discussion	of	the	new	CECL	accounting	rule,	see	Note	2	of	the	Notes	to	Consolidated	Financial	Statements.	In	August	2020,	the	U.S.	federal	banking	agencies	adopted	a	final	rule	altering	the	definition	of	eligible	retained	income	in	their	respective	capital	rules.		Under	the	new	rule,	eligible	retained	income	is	the	greater	of	a	firm’s	(i)	net	income	over	the	four	preceding	calendar	quarters,	net	of	any	distributions	and	associated	tax	effects	not	already	14					Huntington	Bancshares	Incorporatedreflected	in	net	income,	and	(ii)	average	net	income	over	the	preceding	four	quarters.	This	definition	applies	with	respect	to	all	of	Huntington’s	capital	requirements.	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.		The	Federal	Reserve	has	not	yet	revised	the	well-capitalized	standard	for	BHCs	to	reflect	the	higher	capital	requirements	imposed	under	the	U.S.	Basel	III	capital	rules.		For	purposes	of	the	Federal	Reserve’s	Regulation	Y,	including	determining	whether	a	BHC	meets	the	requirements	to	be	an	FHC,	BHCs,	such	as	Huntington,	must	maintain	a	Tier	1	Risk-Based	Capital	Ratio	of	6.0%	or	greater	and	a	Total	Risk-Based	Capital	Ratio	of	10.0%	or	greater.		If	the	Federal	Reserve	were	to	apply	the	same	or	a	very	similar	well-capitalized	standard	to	BHCs	as	that	applicable	to	the	Bank,	Huntington’s	capital	ratios	as	of	December	31,	2020,	would	exceed	such	revised	well-capitalized	standard.		The	Federal	Reserve	may	require	BHCs,	including	Huntington,	to	maintain	capital	ratios	substantially	in	excess	of	mandated	minimum	levels,	depending	upon	general	economic	conditions	and	a	BHC’s	particular	condition,	risk	profile,	and	growth	plans.Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules,	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	2.5%	and	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		The	Tier	1	Leverage	Ratio	is	not	impacted	by	the	Capital	Conservation	Buffer,	and	a	banking	institution	may	be	considered	well-capitalized	while	remaining	out	of	compliance	with	the	Capital	Conservation	Buffer.		In	March	2020,	the	Federal	Reserve	issued	a	final	rule	that,	among	other	things,	replaced	the	Capital	Conservation	Buffer	with	stress	buffer	requirements	for	certain	large	BHCs,	including	Huntington.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	for	further	details.The	following	table	presents	the	minimum	regulatory	capital	ratios,	minimum	ratio	plus	capital	conservation	buffer,	and	well-capitalized	minimums	compared	with	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.Minimum	Regulatory	Capital	RatioMinimum	Ratio	+	Capital	Conservation	Buffer	(1)Well-CapitalizedMinimums	(2)At	December	31,	2020ActualRatios:CET	1	risk-based	capital	ratioConsolidated	4.50	%	7.00	%N/A	10.00	%Bank	4.50		7.00		6.50	%	10.65	Tier	1	risk-based	capital	ratioConsolidated	6.00		8.50		6.00		12.47	Bank	6.00		8.50		8.00		11.97	Total	risk-based	capital	ratioConsolidated	8.00		10.50		10.00		14.46	Bank	8.00		10.50		10.00		13.58	Tier	1	leverage	ratioConsolidated	4.00	N/AN/A	9.32	Bank	4.00	N/A	5.00		8.94	(1)	Reflects	a	stress	capital	buffer	of	2.5%	for	Huntington	and	the	capital	conservation	buffer	of	2.5%	for	the	Bank.(2)	Reflects	the	well-capitalized	standard	applicable	to	Huntington	under	Federal	Reserve	Regulation	Y	and	the	well-capitalized	standard	applicable	to	the	Bank.Huntington	has	the	ability	to	provide	additional	capital	to	the	Bank	to	maintain	the	Bank’s	risk-based	capital	ratios	at	levels	which	would	be	considered	well-capitalized.As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.	2020	Form	10-K					15acquiring	the	power	to	vote	10%	or	more	of	our	outstanding	common	stock.		Investors	should	be	aware	of	these	requirements	when	acquiring	shares	in	our	stock.Interstate	BankingUnder	the	Riegle-Neal	Act,	a	BHC	may	acquire	banks	in	states	other	than	its	home	state,	subject	to	any	state	requirement	that	the	bank	has	been	organized	and	operating	for	a	minimum	period	of	time,	not	to	exceed	five	years,	and	the	requirement	that	the	BHC	not	control,	prior	to	or	following	the	proposed	acquisition,	more	than	10%	of	the	total	amount	of	deposits	of	insured	depository	institutions	nationwide	or,	unless	the	acquisition	is	the	BHC’s	initial	entry	into	the	state,	more	than	30%	of	such	deposits	in	the	state	(or	such	lesser	or	greater	amount	set	by	the	state).		The	Riegle-Neal	Act	also	authorizes	banks	to	merge	across	state	lines,	thereby	creating	interstate	branches.		A	national	bank,	such	as	the	Bank,	with	the	approval	of	the	OCC	may	open	a	branch	in	any	state	if	the	law	of	that	state	would	permit	a	state	bank	chartered	in	that	state	to	establish	the	branch.Regulatory	Capital	RequirementsHuntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.		These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity,	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures,	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:•CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.		Effective	April	1,	2020,	Huntington	and	the	Bank	adopted	rules	issued	by	regulators	that	simplified	the	capital	treatment	of	mortgage	servicing	assets,	deferred	tax	assets	arising	from	temporary	differences	that	an	institution	could	not	realize	through	net	operating	loss	carrybacks,	and	investments	in	the	capital	of	unconsolidated	financial	institutions,	as	well	as	simplified	the	recognition	and	calculation	of	minority	interests	that	are	includable	in	regulatory	capital.•Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock,	and	certain	qualifying	capital	instruments.		•Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital,	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.		•Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets,	and	certain	other	deductions).		In	December	2018,	the	U.S.	federal	banking	agencies	finalized	rules	that	permit	BHCs	and	banks	to	phase-in	the	day-one	retained	earnings	impact	of	the	new	CECL	accounting	rule	over	a	period	of	three	years	for	regulatory	capital	purposes.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	agencies	issued	another	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period	beginning	January	1,	2022.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	and	the	Bank	have	elected	to	adopt	this	final	rule.		For	further	discussion	of	the	new	CECL	accounting	rule,	see	Note	2	of	the	Notes	to	Consolidated	Financial	Statements.	In	August	2020,	the	U.S.	federal	banking	agencies	adopted	a	final	rule	altering	the	definition	of	eligible	retained	income	in	their	respective	capital	rules.		Under	the	new	rule,	eligible	retained	income	is	the	greater	of	a	firm’s	(i)	net	income	over	the	four	preceding	calendar	quarters,	net	of	any	distributions	and	associated	tax	effects	not	already	14					Huntington	Bancshares	Incorporatedreflected	in	net	income,	and	(ii)	average	net	income	over	the	preceding	four	quarters.	This	definition	applies	with	respect	to	all	of	Huntington’s	capital	requirements.	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.		The	Federal	Reserve	has	not	yet	revised	the	well-capitalized	standard	for	BHCs	to	reflect	the	higher	capital	requirements	imposed	under	the	U.S.	Basel	III	capital	rules.		For	purposes	of	the	Federal	Reserve’s	Regulation	Y,	including	determining	whether	a	BHC	meets	the	requirements	to	be	an	FHC,	BHCs,	such	as	Huntington,	must	maintain	a	Tier	1	Risk-Based	Capital	Ratio	of	6.0%	or	greater	and	a	Total	Risk-Based	Capital	Ratio	of	10.0%	or	greater.		If	the	Federal	Reserve	were	to	apply	the	same	or	a	very	similar	well-capitalized	standard	to	BHCs	as	that	applicable	to	the	Bank,	Huntington’s	capital	ratios	as	of	December	31,	2020,	would	exceed	such	revised	well-capitalized	standard.		The	Federal	Reserve	may	require	BHCs,	including	Huntington,	to	maintain	capital	ratios	substantially	in	excess	of	mandated	minimum	levels,	depending	upon	general	economic	conditions	and	a	BHC’s	particular	condition,	risk	profile,	and	growth	plans.Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules,	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	2.5%	and	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		The	Tier	1	Leverage	Ratio	is	not	impacted	by	the	Capital	Conservation	Buffer,	and	a	banking	institution	may	be	considered	well-capitalized	while	remaining	out	of	compliance	with	the	Capital	Conservation	Buffer.		In	March	2020,	the	Federal	Reserve	issued	a	final	rule	that,	among	other	things,	replaced	the	Capital	Conservation	Buffer	with	stress	buffer	requirements	for	certain	large	BHCs,	including	Huntington.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	for	further	details.The	following	table	presents	the	minimum	regulatory	capital	ratios,	minimum	ratio	plus	capital	conservation	buffer,	and	well-capitalized	minimums	compared	with	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.Minimum	Regulatory	Capital	RatioMinimum	Ratio	+	Capital	Conservation	Buffer	(1)Well-CapitalizedMinimums	(2)At	December	31,	2020ActualRatios:CET	1	risk-based	capital	ratioConsolidated	4.50	%	7.00	%N/A	10.00	%Bank	4.50		7.00		6.50	%	10.65	Tier	1	risk-based	capital	ratioConsolidated	6.00		8.50		6.00		12.47	Bank	6.00		8.50		8.00		11.97	Total	risk-based	capital	ratioConsolidated	8.00		10.50		10.00		14.46	Bank	8.00		10.50		10.00		13.58	Tier	1	leverage	ratioConsolidated	4.00	N/AN/A	9.32	Bank	4.00	N/A	5.00		8.94	(1)	Reflects	a	stress	capital	buffer	of	2.5%	for	Huntington	and	the	capital	conservation	buffer	of	2.5%	for	the	Bank.(2)	Reflects	the	well-capitalized	standard	applicable	to	Huntington	under	Federal	Reserve	Regulation	Y	and	the	well-capitalized	standard	applicable	to	the	Bank.Huntington	has	the	ability	to	provide	additional	capital	to	the	Bank	to	maintain	the	Bank’s	risk-based	capital	ratios	at	levels	which	would	be	considered	well-capitalized.As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.	2020	Form	10-K					15acquiring	the	power	to	vote	10%	or	more	of	our	outstanding	common	stock.		Investors	should	be	aware	of	these	requirements	when	acquiring	shares	in	our	stock.Interstate	BankingUnder	the	Riegle-Neal	Act,	a	BHC	may	acquire	banks	in	states	other	than	its	home	state,	subject	to	any	state	requirement	that	the	bank	has	been	organized	and	operating	for	a	minimum	period	of	time,	not	to	exceed	five	years,	and	the	requirement	that	the	BHC	not	control,	prior	to	or	following	the	proposed	acquisition,	more	than	10%	of	the	total	amount	of	deposits	of	insured	depository	institutions	nationwide	or,	unless	the	acquisition	is	the	BHC’s	initial	entry	into	the	state,	more	than	30%	of	such	deposits	in	the	state	(or	such	lesser	or	greater	amount	set	by	the	state).		The	Riegle-Neal	Act	also	authorizes	banks	to	merge	across	state	lines,	thereby	creating	interstate	branches.		A	national	bank,	such	as	the	Bank,	with	the	approval	of	the	OCC	may	open	a	branch	in	any	state	if	the	law	of	that	state	would	permit	a	state	bank	chartered	in	that	state	to	establish	the	branch.Regulatory	Capital	RequirementsHuntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.		These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity,	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures,	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:•CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.		Effective	April	1,	2020,	Huntington	and	the	Bank	adopted	rules	issued	by	regulators	that	simplified	the	capital	treatment	of	mortgage	servicing	assets,	deferred	tax	assets	arising	from	temporary	differences	that	an	institution	could	not	realize	through	net	operating	loss	carrybacks,	and	investments	in	the	capital	of	unconsolidated	financial	institutions,	as	well	as	simplified	the	recognition	and	calculation	of	minority	interests	that	are	includable	in	regulatory	capital.•Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock,	and	certain	qualifying	capital	instruments.		•Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital,	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.		•Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets,	and	certain	other	deductions).		In	December	2018,	the	U.S.	federal	banking	agencies	finalized	rules	that	permit	BHCs	and	banks	to	phase-in	the	day-one	retained	earnings	impact	of	the	new	CECL	accounting	rule	over	a	period	of	three	years	for	regulatory	capital	purposes.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	agencies	issued	another	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period	beginning	January	1,	2022.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	and	the	Bank	have	elected	to	adopt	this	final	rule.		For	further	discussion	of	the	new	CECL	accounting	rule,	see	Note	2	of	the	Notes	to	Consolidated	Financial	Statements.	In	August	2020,	the	U.S.	federal	banking	agencies	adopted	a	final	rule	altering	the	definition	of	eligible	retained	income	in	their	respective	capital	rules.		Under	the	new	rule,	eligible	retained	income	is	the	greater	of	a	firm’s	(i)	net	income	over	the	four	preceding	calendar	quarters,	net	of	any	distributions	and	associated	tax	effects	not	already	14					Huntington	Bancshares	Incorporatedreflected	in	net	income,	and	(ii)	average	net	income	over	the	preceding	four	quarters.	This	definition	applies	with	respect	to	all	of	Huntington’s	capital	requirements.	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.		The	Federal	Reserve	has	not	yet	revised	the	well-capitalized	standard	for	BHCs	to	reflect	the	higher	capital	requirements	imposed	under	the	U.S.	Basel	III	capital	rules.		For	purposes	of	the	Federal	Reserve’s	Regulation	Y,	including	determining	whether	a	BHC	meets	the	requirements	to	be	an	FHC,	BHCs,	such	as	Huntington,	must	maintain	a	Tier	1	Risk-Based	Capital	Ratio	of	6.0%	or	greater	and	a	Total	Risk-Based	Capital	Ratio	of	10.0%	or	greater.		If	the	Federal	Reserve	were	to	apply	the	same	or	a	very	similar	well-capitalized	standard	to	BHCs	as	that	applicable	to	the	Bank,	Huntington’s	capital	ratios	as	of	December	31,	2020,	would	exceed	such	revised	well-capitalized	standard.		The	Federal	Reserve	may	require	BHCs,	including	Huntington,	to	maintain	capital	ratios	substantially	in	excess	of	mandated	minimum	levels,	depending	upon	general	economic	conditions	and	a	BHC’s	particular	condition,	risk	profile,	and	growth	plans.Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules,	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	2.5%	and	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		The	Tier	1	Leverage	Ratio	is	not	impacted	by	the	Capital	Conservation	Buffer,	and	a	banking	institution	may	be	considered	well-capitalized	while	remaining	out	of	compliance	with	the	Capital	Conservation	Buffer.		In	March	2020,	the	Federal	Reserve	issued	a	final	rule	that,	among	other	things,	replaced	the	Capital	Conservation	Buffer	with	stress	buffer	requirements	for	certain	large	BHCs,	including	Huntington.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	for	further	details.The	following	table	presents	the	minimum	regulatory	capital	ratios,	minimum	ratio	plus	capital	conservation	buffer,	and	well-capitalized	minimums	compared	with	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.Minimum	Regulatory	Capital	RatioMinimum	Ratio	+	Capital	Conservation	Buffer	(1)Well-CapitalizedMinimums	(2)At	December	31,	2020ActualRatios:CET	1	risk-based	capital	ratioConsolidated	4.50	%	7.00	%N/A	10.00	%Bank	4.50		7.00		6.50	%	10.65	Tier	1	risk-based	capital	ratioConsolidated	6.00		8.50		6.00		12.47	Bank	6.00		8.50		8.00		11.97	Total	risk-based	capital	ratioConsolidated	8.00		10.50		10.00		14.46	Bank	8.00		10.50		10.00		13.58	Tier	1	leverage	ratioConsolidated	4.00	N/AN/A	9.32	Bank	4.00	N/A	5.00		8.94	(1)	Reflects	a	stress	capital	buffer	of	2.5%	for	Huntington	and	the	capital	conservation	buffer	of	2.5%	for	the	Bank.(2)	Reflects	the	well-capitalized	standard	applicable	to	Huntington	under	Federal	Reserve	Regulation	Y	and	the	well-capitalized	standard	applicable	to	the	Bank.Huntington	has	the	ability	to	provide	additional	capital	to	the	Bank	to	maintain	the	Bank’s	risk-based	capital	ratios	at	levels	which	would	be	considered	well-capitalized.As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.	2020	Form	10-K					15Liquidity	Requirements
Liquidity	Requirements

Under	the	Capital	and	Liquidity	Tailoring	Rule,	Huntington,	as	a	Category	IV	banking	organization,	is	exempt	from	
Under	the	Capital	and	Liquidity	Tailoring	Rule,	Huntington,	as	a	Category	IV	banking	organization,	is	exempt	from	

the	LCR	but	will	continue	to	be	subject	to	internal	liquidity	stress	tests	and	standards.
the	LCR	but	will	continue	to	be	subject	to	internal	liquidity	stress	tests	and	standards.

Enhanced	Prudential	Standards
Enhanced	Prudential	Standards

Under	the	Dodd-Frank	Act,	as	modified	by	the	Economic	Growth	Act,	BHCs	with	consolidated	assets	of	more	
Under	the	Dodd-Frank	Act,	as	modified	by	the	Economic	Growth	Act,	BHCs	with	consolidated	assets	of	more	
than	$100	billion,	such	as	Huntington,	are	currently	subject	to	certain	enhanced	prudential	standards.		As	a	result,	
than	$100	billion,	such	as	Huntington,	are	currently	subject	to	certain	enhanced	prudential	standards.		As	a	result,	
Huntington	is	subject	to	more	stringent	standards,	including	liquidity	and	capital	requirements,	leverage	limits,	
Huntington	is	subject	to	more	stringent	standards,	including	liquidity	and	capital	requirements,	leverage	limits,	
stress	testing,	resolution	planning,	and	risk	management	standards,	than	those	applicable	to	smaller	institutions.		
stress	testing,	resolution	planning,	and	risk	management	standards,	than	those	applicable	to	smaller	institutions.		
Certain	larger	banking	organizations	are	subject	to	additional	enhanced	prudential	standards.
Certain	larger	banking	organizations	are	subject	to	additional	enhanced	prudential	standards.

A	rule	to	implement	one	additional	enhanced	prudential	standard—early	remediation	requirements—is	still	
A	rule	to	implement	one	additional	enhanced	prudential	standard—early	remediation	requirements—is	still	
under	consideration	by	the	Federal	Reserve.		In	June	2018,	the	Federal	Reserve	adopted	a	final	rule	that	established	
under	consideration	by	the	Federal	Reserve.		In	June	2018,	the	Federal	Reserve	adopted	a	final	rule	that	established	
single	counterparty	credit	limits.		The	single	counterparty	credit	limits	do	not	apply	to	BHCs	like	Huntington	that	do	
single	counterparty	credit	limits.		The	single	counterparty	credit	limits	do	not	apply	to	BHCs	like	Huntington	that	do	
not	have	at	least	$250	billion	of	total	consolidated	assets.
not	have	at	least	$250	billion	of	total	consolidated	assets.

As	discussed	in	the	Regulatory	Environment	section	above,	under	the	EPS	Tailoring	Rule,	Huntington,	as	a	
As	discussed	in	the	Regulatory	Environment	section	above,	under	the	EPS	Tailoring	Rule,	Huntington,	as	a	

Category	IV	banking	organization,	is	subject	to	the	least	restrictive	enhanced	prudential	standards	applicable	to	firms	
Category	IV	banking	organization,	is	subject	to	the	least	restrictive	enhanced	prudential	standards	applicable	to	firms	
with	$100	billion	or	more	in	total	consolidated	assets.		As	compared	to	enhanced	prudential	standards	that	were	
with	$100	billion	or	more	in	total	consolidated	assets.		As	compared	to	enhanced	prudential	standards	that	were	
applicable	to	Huntington,	under	the	EPS	Tailoring	Rule,	Huntington	is	no	longer	subject	to	company-run	stress	
applicable	to	Huntington,	under	the	EPS	Tailoring	Rule,	Huntington	is	no	longer	subject	to	company-run	stress	
testing	requirements	and	is	subject	to	supervisory	stress	tests	every	other	year	(as	opposed	to	annually),	less	
testing	requirements	and	is	subject	to	supervisory	stress	tests	every	other	year	(as	opposed	to	annually),	less	
frequent	internal	liquidity	stress	tests,	and	reduced	liquidity	risk	management	requirements.		Future	rules	to	
frequent	internal	liquidity	stress	tests,	and	reduced	liquidity	risk	management	requirements.		Future	rules	to	
implement	the	Economic	Growth	Act	may	further	change	the	enhanced	prudential	standards	applicable	to	
implement	the	Economic	Growth	Act	may	further	change	the	enhanced	prudential	standards	applicable	to	
Huntington.
Huntington.

Capital	Planning	and	Stress	Testing
Capital	Planning	and	Stress	Testing

Huntington	is	required	to	develop,	maintain,	and	submit	to	the	Federal	Reserve	a	capital	plan	every	other	year	
Huntington	is	required	to	develop,	maintain,	and	submit	to	the	Federal	Reserve	a	capital	plan	every	other	year	
for	supervisory	review	in	connection	with	its	CCAR	process.		Huntington	is	required	to	include	within	its	capital	plan	
for	supervisory	review	in	connection	with	its	CCAR	process.		Huntington	is	required	to	include	within	its	capital	plan	
an	assessment	of	the	expected	uses	and	sources	of	capital	and	a	description	of	all	planned	capital	actions	over	the	
an	assessment	of	the	expected	uses	and	sources	of	capital	and	a	description	of	all	planned	capital	actions	over	the	
nine-quarter	planning	horizon,	a	detailed	description	of	the	process	for	assessing	capital	adequacy,	its	capital	policy,	
nine-quarter	planning	horizon,	a	detailed	description	of	the	process	for	assessing	capital	adequacy,	its	capital	policy,	
and	a	discussion	of	any	expected	changes	to	its	business	plan	that	are	likely	to	have	a	material	impact	on	its	capital	
and	a	discussion	of	any	expected	changes	to	its	business	plan	that	are	likely	to	have	a	material	impact	on	its	capital	
adequacy.		Under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	CCAR	process	is	used	to	
adequacy.		Under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	CCAR	process	is	used	to	
determine	a	BHC’s	stress	capital	buffer	requirement.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	
determine	a	BHC’s	stress	capital	buffer	requirement.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	
for	further	details.	
for	further	details.	

The	Federal	Reserve	expects	BHCs	subject	to	CCAR,	such	as	Huntington,	to	have	sufficient	capital	to	withstand	a	
The	Federal	Reserve	expects	BHCs	subject	to	CCAR,	such	as	Huntington,	to	have	sufficient	capital	to	withstand	a	

highly	adverse	operating	environment	and	to	be	able	to	continue	operations,	maintain	ready	access	to	funding,	
highly	adverse	operating	environment	and	to	be	able	to	continue	operations,	maintain	ready	access	to	funding,	
meet	obligations	to	creditors	and	counterparties,	and	serve	as	credit	intermediaries.		In	addition,	the	Federal	
meet	obligations	to	creditors	and	counterparties,	and	serve	as	credit	intermediaries.		In	addition,	the	Federal	
Reserve	evaluates	the	planned	capital	actions	of	these	BHCs,	including	planned	capital	distributions	such	as	dividend	
Reserve	evaluates	the	planned	capital	actions	of	these	BHCs,	including	planned	capital	distributions	such	as	dividend	
payments	or	stock	repurchases.		This	involves	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	
payments	or	stock	repurchases.		This	involves	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	
tests	that	assess	the	ability	to	maintain	capital	levels	above	certain	minimum	ratios,	after	taking	all	capital	actions	
tests	that	assess	the	ability	to	maintain	capital	levels	above	certain	minimum	ratios,	after	taking	all	capital	actions	
included	in	a	BHC’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	the	nine-quarter	planning	
included	in	a	BHC’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	the	nine-quarter	planning	
horizon.		As	part	of	CCAR,	the	Federal	Reserve	evaluates	whether	BHCs	have	sufficient	capital	to	continue	operations	
horizon.		As	part	of	CCAR,	the	Federal	Reserve	evaluates	whether	BHCs	have	sufficient	capital	to	continue	operations	
throughout	times	of	economic	and	financial	market	stress	and	whether	they	have	robust,	forward-looking	capital	
throughout	times	of	economic	and	financial	market	stress	and	whether	they	have	robust,	forward-looking	capital	
planning	processes	that	account	for	their	unique	risks.		We	are	generally	prohibited	from	making	a	capital	
planning	processes	that	account	for	their	unique	risks.		We	are	generally	prohibited	from	making	a	capital	
distribution	unless,	after	giving	effect	to	the	distribution,	we	will	meet	all	minimum	regulatory	capital	ratios.		Under	
distribution	unless,	after	giving	effect	to	the	distribution,	we	will	meet	all	minimum	regulatory	capital	ratios.		Under	
the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	BHCs,	including	Huntington,	may	increase	their	
the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	BHCs,	including	Huntington,	may	increase	their	
capital	distributions	in	excess	of	the	amount	included	in	their	capital	plan	without	seeking	prior	approval	from	the	
capital	distributions	in	excess	of	the	amount	included	in	their	capital	plan	without	seeking	prior	approval	from	the	
Federal	Reserve	as	long	as	the	BHC	otherwise	complies	with	the	automatic	restrictions	on	distributions	under	the	
Federal	Reserve	as	long	as	the	BHC	otherwise	complies	with	the	automatic	restrictions	on	distributions	under	the	
Federal	Reserve’s	capital	rules.
Federal	Reserve’s	capital	rules.

Under	revised	CCAR	rules	that	became	effective	on	March	6,	2017,	the	Federal	Reserve	is	no	longer	allowed	to	

Under	revised	CCAR	rules	that	became	effective	on	March	6,	2017,	the	Federal	Reserve	is	no	longer	allowed	to	

object	to	the	capital	plan	of	a	large	and	non-complex	BHC,	such	as	Huntington,	on	a	qualitative,	as	opposed	to	

object	to	the	capital	plan	of	a	large	and	non-complex	BHC,	such	as	Huntington,	on	a	qualitative,	as	opposed	to	

quantitative,	basis.		Instead,	the	Federal	Reserve	may	evaluate	the	strength	of	Huntington’s	qualitative	capital	

quantitative,	basis.		Instead,	the	Federal	Reserve	may	evaluate	the	strength	of	Huntington’s	qualitative	capital	

planning	process	through	the	regular	supervisory	process	and	targeted	horizontal	reviews	of	particular	aspects	of	

planning	process	through	the	regular	supervisory	process	and	targeted	horizontal	reviews	of	particular	aspects	of	

capital	planning.		In	addition,	under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	Federal	

capital	planning.		In	addition,	under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	Federal	

Reserve	may	no	longer	object	to	capital	plans	of	BHCs,	including	Huntington,	on	a	quantitative	basis.		Please	refer	to	

Reserve	may	no	longer	object	to	capital	plans	of	BHCs,	including	Huntington,	on	a	quantitative	basis.		Please	refer	to	

the	Stress	Buffer	Requirements	section	below	for	further	details.	

the	Stress	Buffer	Requirements	section	below	for	further	details.	

During	the	fourth	quarter	of	2020,	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	

During	the	fourth	quarter	of	2020,	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	

resubmit	their	capital	plans	to	reflect	ongoing	stresses	caused	by	the	COVID-19	pandemic.		We	conducted	a	second	

resubmit	their	capital	plans	to	reflect	ongoing	stresses	caused	by	the	COVID-19	pandemic.		We	conducted	a	second	

round	of	stress	tests	and	submitted	our	updated	capital	plan	to	the	Federal	Reserve	in	November	2020.		On	

round	of	stress	tests	and	submitted	our	updated	capital	plan	to	the	Federal	Reserve	in	November	2020.		On	

December	18,	2020,	the	Federal	Reserve	released	the	results	of	its	second	round	of	supervisory	stress	tests.		While,	

December	18,	2020,	the	Federal	Reserve	released	the	results	of	its	second	round	of	supervisory	stress	tests.		While,	

the	Federal	Reserve	did	not	recalculate	our	stress	capital	buffer	requirement	at	this	time;	they	have	the	ability	to	do	

the	Federal	Reserve	did	not	recalculate	our	stress	capital	buffer	requirement	at	this	time;	they	have	the	ability	to	do	

so	until	March	31,	2021.		

so	until	March	31,	2021.		

Stress	Buffer	Requirements

Stress	Buffer	Requirements

In	March	2020,	the	Federal	Reserve	issued	a	final	rule	to	integrate	its	annual	capital	planning	and	stress	testing	

In	March	2020,	the	Federal	Reserve	issued	a	final	rule	to	integrate	its	annual	capital	planning	and	stress	testing	

requirements	with	certain	ongoing	regulatory	capital	requirements.		The	final	rule	applies	to	certain	BHCs,	including	

requirements	with	certain	ongoing	regulatory	capital	requirements.		The	final	rule	applies	to	certain	BHCs,	including	

Huntington,	and	introduces	a	stress	capital	buffer	and	related	changes	to	the	capital	planning	and	stress	testing	

Huntington,	and	introduces	a	stress	capital	buffer	and	related	changes	to	the	capital	planning	and	stress	testing	

processes.		

processes.		

For	risk-based	capital	requirements,	the	stress	capital	buffer	replaces	the	existing	Capital	Conservation	Buffer,	

For	risk-based	capital	requirements,	the	stress	capital	buffer	replaces	the	existing	Capital	Conservation	Buffer,	

which	was	2.5%	as	of	January	1,	2019.		Under	the	final	rule,	beginning	in	the	2020	CCAR	cycle,	Huntington	will	be	

which	was	2.5%	as	of	January	1,	2019.		Under	the	final	rule,	beginning	in	the	2020	CCAR	cycle,	Huntington	will	be	

required	to	calculate	a	stress	capital	buffer	equal	to	the	greater	of	(i)	the	difference	between	its	starting	and	

required	to	calculate	a	stress	capital	buffer	equal	to	the	greater	of	(i)	the	difference	between	its	starting	and	

minimum	projected	CET1	Risk-Based	Capital	Ratio	under	the	severely	adverse	scenario	in	the	supervisory	stress	test,	

minimum	projected	CET1	Risk-Based	Capital	Ratio	under	the	severely	adverse	scenario	in	the	supervisory	stress	test,	

plus	the	sum	of	the	dollar	amount	of	Huntington’s	planned	common	stock	dividends	for	each	of	the	fourth	through	

plus	the	sum	of	the	dollar	amount	of	Huntington’s	planned	common	stock	dividends	for	each	of	the	fourth	through	

seventh	quarters	of	the	planning	horizon	as	a	percentage	of	risk-weighted	assets,	or	(ii)	2.5%.		As	of	December	31,	

seventh	quarters	of	the	planning	horizon	as	a	percentage	of	risk-weighted	assets,	or	(ii)	2.5%.		As	of	December	31,	

2020,	Huntington’s	stress	capital	buffer	is	2.5%.		

2020,	Huntington’s	stress	capital	buffer	is	2.5%.		

The	final	rule	also	makes	related	changes	to	the	capital	planning	and	stress	testing	process.		Among	other	

The	final	rule	also	makes	related	changes	to	the	capital	planning	and	stress	testing	process.		Among	other	

changes,	the	revised	capital	plan	rule	eliminates	the	assumption	that	Huntington’s	balance	sheet	assets	would	

changes,	the	revised	capital	plan	rule	eliminates	the	assumption	that	Huntington’s	balance	sheet	assets	would	

increase	over	the	planning	horizon.		In	addition,	provided	that	Huntington	is	otherwise	in	compliance	with	automatic	

increase	over	the	planning	horizon.		In	addition,	provided	that	Huntington	is	otherwise	in	compliance	with	automatic	

restrictions	on	distributions	under	the	Federal	Reserve’s	capital	rules,	Huntington	will	no	longer	be	required	to	seek	

restrictions	on	distributions	under	the	Federal	Reserve’s	capital	rules,	Huntington	will	no	longer	be	required	to	seek	

prior	approval	to	make	capital	distributions	in	excess	of	those	included	in	its	capital	plan.	

prior	approval	to	make	capital	distributions	in	excess	of	those	included	in	its	capital	plan.	

Restrictions	on	Dividends

Restrictions	on	Dividends

Huntington	is	a	legal	entity	separate	and	distinct	from	its	banking	and	non-banking	subsidiaries.		Since	our	

Huntington	is	a	legal	entity	separate	and	distinct	from	its	banking	and	non-banking	subsidiaries.		Since	our	

consolidated	net	income	consists	largely	of	net	income	of	Huntington’s	subsidiaries,	our	ability	to	make	capital	

consolidated	net	income	consists	largely	of	net	income	of	Huntington’s	subsidiaries,	our	ability	to	make	capital	

distributions,	including	paying	dividends	and	repurchasing	shares,	depends	upon	our	receipt	of	dividends	from	these	

distributions,	including	paying	dividends	and	repurchasing	shares,	depends	upon	our	receipt	of	dividends	from	these	

subsidiaries.		Under	federal	law,	there	are	various	limitations	on	the	extent	to	which	the	Bank	can	declare	and	pay	

subsidiaries.		Under	federal	law,	there	are	various	limitations	on	the	extent	to	which	the	Bank	can	declare	and	pay	

dividends	to	Huntington,	including	those	related	to	regulatory	capital	requirements,	general	regulatory	oversight	to	

dividends	to	Huntington,	including	those	related	to	regulatory	capital	requirements,	general	regulatory	oversight	to	

prevent	unsafe	or	unsound	practices,	and	federal	banking	law	requirements	concerning	the	payment	of	dividends	

prevent	unsafe	or	unsound	practices,	and	federal	banking	law	requirements	concerning	the	payment	of	dividends	

out	of	net	profits,	surplus,	and	available	earnings.		Certain	contractual	restrictions	also	may	limit	the	ability	of	the	

out	of	net	profits,	surplus,	and	available	earnings.		Certain	contractual	restrictions	also	may	limit	the	ability	of	the	

Bank	to	pay	dividends	to	Huntington.		No	assurances	can	be	given	that	the	Bank	will,	in	any	circumstances,	pay	

Bank	to	pay	dividends	to	Huntington.		No	assurances	can	be	given	that	the	Bank	will,	in	any	circumstances,	pay	

dividends	to	Huntington.		

dividends	to	Huntington.		

Huntington’s	ability	to	declare	and	pay	dividends	to	our	shareholders	is	similarly	limited	by	federal	banking	law	

Huntington’s	ability	to	declare	and	pay	dividends	to	our	shareholders	is	similarly	limited	by	federal	banking	law	

and	Federal	Reserve	regulations	and	policy.		As	discussed	in	the	Capital	Planning	section	above,	a	BHC	may	pay	

and	Federal	Reserve	regulations	and	policy.		As	discussed	in	the	Capital	Planning	section	above,	a	BHC	may	pay	

dividends	and	repurchase	stock	only	in	accordance	with	a	capital	plan	that	has	been	reviewed	by	the	Federal	

dividends	and	repurchase	stock	only	in	accordance	with	a	capital	plan	that	has	been	reviewed	by	the	Federal	

Reserve	and	as	to	which	the	Federal	Reserve	has	not	objected.		The	FRB	announced	that	certain	large	BHCs,	

Reserve	and	as	to	which	the	Federal	Reserve	has	not	objected.		The	FRB	announced	that	certain	large	BHCs,	

including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	

including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	

2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	bank's	average	

2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	bank's	average	

net	income	for	the	four	preceding	quarters.

net	income	for	the	four	preceding	quarters.

Huntington	must	maintain	the	applicable	stress	capital	buffer	and	the	Bank	must	maintain	the	CET1	Capital	

Huntington	must	maintain	the	applicable	stress	capital	buffer	and	the	Bank	must	maintain	the	CET1	Capital	

Conservation	Buffer	of	2.5%	to	avoid	becoming	subject	to	restrictions	on	capital	distributions,	including	dividends.		

Conservation	Buffer	of	2.5%	to	avoid	becoming	subject	to	restrictions	on	capital	distributions,	including	dividends.		

16					Huntington	Bancshares	Incorporated
16					Huntington	Bancshares	Incorporated

2020	Form	10-K					17

2020	Form	10-K					17

Under	the	Capital	and	Liquidity	Tailoring	Rule,	Huntington,	as	a	Category	IV	banking	organization,	is	exempt	from	

Under	the	Capital	and	Liquidity	Tailoring	Rule,	Huntington,	as	a	Category	IV	banking	organization,	is	exempt	from	

the	LCR	but	will	continue	to	be	subject	to	internal	liquidity	stress	tests	and	standards.

the	LCR	but	will	continue	to	be	subject	to	internal	liquidity	stress	tests	and	standards.

Liquidity	Requirements

Liquidity	Requirements

Enhanced	Prudential	Standards

Enhanced	Prudential	Standards

Under	the	Dodd-Frank	Act,	as	modified	by	the	Economic	Growth	Act,	BHCs	with	consolidated	assets	of	more	

Under	the	Dodd-Frank	Act,	as	modified	by	the	Economic	Growth	Act,	BHCs	with	consolidated	assets	of	more	

than	$100	billion,	such	as	Huntington,	are	currently	subject	to	certain	enhanced	prudential	standards.		As	a	result,	

than	$100	billion,	such	as	Huntington,	are	currently	subject	to	certain	enhanced	prudential	standards.		As	a	result,	

Huntington	is	subject	to	more	stringent	standards,	including	liquidity	and	capital	requirements,	leverage	limits,	

Huntington	is	subject	to	more	stringent	standards,	including	liquidity	and	capital	requirements,	leverage	limits,	

stress	testing,	resolution	planning,	and	risk	management	standards,	than	those	applicable	to	smaller	institutions.		

stress	testing,	resolution	planning,	and	risk	management	standards,	than	those	applicable	to	smaller	institutions.		

Certain	larger	banking	organizations	are	subject	to	additional	enhanced	prudential	standards.

Certain	larger	banking	organizations	are	subject	to	additional	enhanced	prudential	standards.

A	rule	to	implement	one	additional	enhanced	prudential	standard—early	remediation	requirements—is	still	

A	rule	to	implement	one	additional	enhanced	prudential	standard—early	remediation	requirements—is	still	

under	consideration	by	the	Federal	Reserve.		In	June	2018,	the	Federal	Reserve	adopted	a	final	rule	that	established	

under	consideration	by	the	Federal	Reserve.		In	June	2018,	the	Federal	Reserve	adopted	a	final	rule	that	established	

single	counterparty	credit	limits.		The	single	counterparty	credit	limits	do	not	apply	to	BHCs	like	Huntington	that	do	

single	counterparty	credit	limits.		The	single	counterparty	credit	limits	do	not	apply	to	BHCs	like	Huntington	that	do	

not	have	at	least	$250	billion	of	total	consolidated	assets.

not	have	at	least	$250	billion	of	total	consolidated	assets.

As	discussed	in	the	Regulatory	Environment	section	above,	under	the	EPS	Tailoring	Rule,	Huntington,	as	a	

As	discussed	in	the	Regulatory	Environment	section	above,	under	the	EPS	Tailoring	Rule,	Huntington,	as	a	

Category	IV	banking	organization,	is	subject	to	the	least	restrictive	enhanced	prudential	standards	applicable	to	firms	

Category	IV	banking	organization,	is	subject	to	the	least	restrictive	enhanced	prudential	standards	applicable	to	firms	

with	$100	billion	or	more	in	total	consolidated	assets.		As	compared	to	enhanced	prudential	standards	that	were	

with	$100	billion	or	more	in	total	consolidated	assets.		As	compared	to	enhanced	prudential	standards	that	were	

applicable	to	Huntington,	under	the	EPS	Tailoring	Rule,	Huntington	is	no	longer	subject	to	company-run	stress	

applicable	to	Huntington,	under	the	EPS	Tailoring	Rule,	Huntington	is	no	longer	subject	to	company-run	stress	

testing	requirements	and	is	subject	to	supervisory	stress	tests	every	other	year	(as	opposed	to	annually),	less	

testing	requirements	and	is	subject	to	supervisory	stress	tests	every	other	year	(as	opposed	to	annually),	less	

frequent	internal	liquidity	stress	tests,	and	reduced	liquidity	risk	management	requirements.		Future	rules	to	

frequent	internal	liquidity	stress	tests,	and	reduced	liquidity	risk	management	requirements.		Future	rules	to	

implement	the	Economic	Growth	Act	may	further	change	the	enhanced	prudential	standards	applicable	to	

implement	the	Economic	Growth	Act	may	further	change	the	enhanced	prudential	standards	applicable	to	

Huntington.

Huntington.

Capital	Planning	and	Stress	Testing

Capital	Planning	and	Stress	Testing

Huntington	is	required	to	develop,	maintain,	and	submit	to	the	Federal	Reserve	a	capital	plan	every	other	year	

Huntington	is	required	to	develop,	maintain,	and	submit	to	the	Federal	Reserve	a	capital	plan	every	other	year	

for	supervisory	review	in	connection	with	its	CCAR	process.		Huntington	is	required	to	include	within	its	capital	plan	

for	supervisory	review	in	connection	with	its	CCAR	process.		Huntington	is	required	to	include	within	its	capital	plan	

an	assessment	of	the	expected	uses	and	sources	of	capital	and	a	description	of	all	planned	capital	actions	over	the	

an	assessment	of	the	expected	uses	and	sources	of	capital	and	a	description	of	all	planned	capital	actions	over	the	

nine-quarter	planning	horizon,	a	detailed	description	of	the	process	for	assessing	capital	adequacy,	its	capital	policy,	

nine-quarter	planning	horizon,	a	detailed	description	of	the	process	for	assessing	capital	adequacy,	its	capital	policy,	

and	a	discussion	of	any	expected	changes	to	its	business	plan	that	are	likely	to	have	a	material	impact	on	its	capital	

and	a	discussion	of	any	expected	changes	to	its	business	plan	that	are	likely	to	have	a	material	impact	on	its	capital	

adequacy.		Under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	CCAR	process	is	used	to	

adequacy.		Under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	CCAR	process	is	used	to	

determine	a	BHC’s	stress	capital	buffer	requirement.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	

determine	a	BHC’s	stress	capital	buffer	requirement.		Please	refer	to	the	Stress	Buffer	Requirements	section	below	

for	further	details.	

for	further	details.	

The	Federal	Reserve	expects	BHCs	subject	to	CCAR,	such	as	Huntington,	to	have	sufficient	capital	to	withstand	a	

The	Federal	Reserve	expects	BHCs	subject	to	CCAR,	such	as	Huntington,	to	have	sufficient	capital	to	withstand	a	

highly	adverse	operating	environment	and	to	be	able	to	continue	operations,	maintain	ready	access	to	funding,	

highly	adverse	operating	environment	and	to	be	able	to	continue	operations,	maintain	ready	access	to	funding,	

meet	obligations	to	creditors	and	counterparties,	and	serve	as	credit	intermediaries.		In	addition,	the	Federal	

meet	obligations	to	creditors	and	counterparties,	and	serve	as	credit	intermediaries.		In	addition,	the	Federal	

Reserve	evaluates	the	planned	capital	actions	of	these	BHCs,	including	planned	capital	distributions	such	as	dividend	

Reserve	evaluates	the	planned	capital	actions	of	these	BHCs,	including	planned	capital	distributions	such	as	dividend	

payments	or	stock	repurchases.		This	involves	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	

payments	or	stock	repurchases.		This	involves	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	

tests	that	assess	the	ability	to	maintain	capital	levels	above	certain	minimum	ratios,	after	taking	all	capital	actions	

tests	that	assess	the	ability	to	maintain	capital	levels	above	certain	minimum	ratios,	after	taking	all	capital	actions	

included	in	a	BHC’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	the	nine-quarter	planning	

included	in	a	BHC’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	the	nine-quarter	planning	

horizon.		As	part	of	CCAR,	the	Federal	Reserve	evaluates	whether	BHCs	have	sufficient	capital	to	continue	operations	

horizon.		As	part	of	CCAR,	the	Federal	Reserve	evaluates	whether	BHCs	have	sufficient	capital	to	continue	operations	

throughout	times	of	economic	and	financial	market	stress	and	whether	they	have	robust,	forward-looking	capital	

throughout	times	of	economic	and	financial	market	stress	and	whether	they	have	robust,	forward-looking	capital	

planning	processes	that	account	for	their	unique	risks.		We	are	generally	prohibited	from	making	a	capital	

planning	processes	that	account	for	their	unique	risks.		We	are	generally	prohibited	from	making	a	capital	

distribution	unless,	after	giving	effect	to	the	distribution,	we	will	meet	all	minimum	regulatory	capital	ratios.		Under	

distribution	unless,	after	giving	effect	to	the	distribution,	we	will	meet	all	minimum	regulatory	capital	ratios.		Under	

the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	BHCs,	including	Huntington,	may	increase	their	

the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	BHCs,	including	Huntington,	may	increase	their	

capital	distributions	in	excess	of	the	amount	included	in	their	capital	plan	without	seeking	prior	approval	from	the	

capital	distributions	in	excess	of	the	amount	included	in	their	capital	plan	without	seeking	prior	approval	from	the	

Federal	Reserve	as	long	as	the	BHC	otherwise	complies	with	the	automatic	restrictions	on	distributions	under	the	

Federal	Reserve	as	long	as	the	BHC	otherwise	complies	with	the	automatic	restrictions	on	distributions	under	the	

Federal	Reserve’s	capital	rules.

Federal	Reserve’s	capital	rules.

Under	revised	CCAR	rules	that	became	effective	on	March	6,	2017,	the	Federal	Reserve	is	no	longer	allowed	to	
Under	revised	CCAR	rules	that	became	effective	on	March	6,	2017,	the	Federal	Reserve	is	no	longer	allowed	to	

object	to	the	capital	plan	of	a	large	and	non-complex	BHC,	such	as	Huntington,	on	a	qualitative,	as	opposed	to	
object	to	the	capital	plan	of	a	large	and	non-complex	BHC,	such	as	Huntington,	on	a	qualitative,	as	opposed	to	
quantitative,	basis.		Instead,	the	Federal	Reserve	may	evaluate	the	strength	of	Huntington’s	qualitative	capital	
quantitative,	basis.		Instead,	the	Federal	Reserve	may	evaluate	the	strength	of	Huntington’s	qualitative	capital	
planning	process	through	the	regular	supervisory	process	and	targeted	horizontal	reviews	of	particular	aspects	of	
planning	process	through	the	regular	supervisory	process	and	targeted	horizontal	reviews	of	particular	aspects	of	
capital	planning.		In	addition,	under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	Federal	
capital	planning.		In	addition,	under	the	stress	buffer	requirements	final	rule	adopted	in	March	2020,	the	Federal	
Reserve	may	no	longer	object	to	capital	plans	of	BHCs,	including	Huntington,	on	a	quantitative	basis.		Please	refer	to	
Reserve	may	no	longer	object	to	capital	plans	of	BHCs,	including	Huntington,	on	a	quantitative	basis.		Please	refer	to	
the	Stress	Buffer	Requirements	section	below	for	further	details.	
the	Stress	Buffer	Requirements	section	below	for	further	details.	

During	the	fourth	quarter	of	2020,	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	
During	the	fourth	quarter	of	2020,	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	
resubmit	their	capital	plans	to	reflect	ongoing	stresses	caused	by	the	COVID-19	pandemic.		We	conducted	a	second	
resubmit	their	capital	plans	to	reflect	ongoing	stresses	caused	by	the	COVID-19	pandemic.		We	conducted	a	second	
round	of	stress	tests	and	submitted	our	updated	capital	plan	to	the	Federal	Reserve	in	November	2020.		On	
round	of	stress	tests	and	submitted	our	updated	capital	plan	to	the	Federal	Reserve	in	November	2020.		On	
December	18,	2020,	the	Federal	Reserve	released	the	results	of	its	second	round	of	supervisory	stress	tests.		While,	
December	18,	2020,	the	Federal	Reserve	released	the	results	of	its	second	round	of	supervisory	stress	tests.		While,	
the	Federal	Reserve	did	not	recalculate	our	stress	capital	buffer	requirement	at	this	time;	they	have	the	ability	to	do	
the	Federal	Reserve	did	not	recalculate	our	stress	capital	buffer	requirement	at	this	time;	they	have	the	ability	to	do	
so	until	March	31,	2021.		
so	until	March	31,	2021.		

Stress	Buffer	Requirements
Stress	Buffer	Requirements

In	March	2020,	the	Federal	Reserve	issued	a	final	rule	to	integrate	its	annual	capital	planning	and	stress	testing	
In	March	2020,	the	Federal	Reserve	issued	a	final	rule	to	integrate	its	annual	capital	planning	and	stress	testing	
requirements	with	certain	ongoing	regulatory	capital	requirements.		The	final	rule	applies	to	certain	BHCs,	including	
requirements	with	certain	ongoing	regulatory	capital	requirements.		The	final	rule	applies	to	certain	BHCs,	including	
Huntington,	and	introduces	a	stress	capital	buffer	and	related	changes	to	the	capital	planning	and	stress	testing	
Huntington,	and	introduces	a	stress	capital	buffer	and	related	changes	to	the	capital	planning	and	stress	testing	
processes.		
processes.		

For	risk-based	capital	requirements,	the	stress	capital	buffer	replaces	the	existing	Capital	Conservation	Buffer,	
For	risk-based	capital	requirements,	the	stress	capital	buffer	replaces	the	existing	Capital	Conservation	Buffer,	

which	was	2.5%	as	of	January	1,	2019.		Under	the	final	rule,	beginning	in	the	2020	CCAR	cycle,	Huntington	will	be	
which	was	2.5%	as	of	January	1,	2019.		Under	the	final	rule,	beginning	in	the	2020	CCAR	cycle,	Huntington	will	be	
required	to	calculate	a	stress	capital	buffer	equal	to	the	greater	of	(i)	the	difference	between	its	starting	and	
required	to	calculate	a	stress	capital	buffer	equal	to	the	greater	of	(i)	the	difference	between	its	starting	and	
minimum	projected	CET1	Risk-Based	Capital	Ratio	under	the	severely	adverse	scenario	in	the	supervisory	stress	test,	
minimum	projected	CET1	Risk-Based	Capital	Ratio	under	the	severely	adverse	scenario	in	the	supervisory	stress	test,	
plus	the	sum	of	the	dollar	amount	of	Huntington’s	planned	common	stock	dividends	for	each	of	the	fourth	through	
plus	the	sum	of	the	dollar	amount	of	Huntington’s	planned	common	stock	dividends	for	each	of	the	fourth	through	
seventh	quarters	of	the	planning	horizon	as	a	percentage	of	risk-weighted	assets,	or	(ii)	2.5%.		As	of	December	31,	
seventh	quarters	of	the	planning	horizon	as	a	percentage	of	risk-weighted	assets,	or	(ii)	2.5%.		As	of	December	31,	
2020,	Huntington’s	stress	capital	buffer	is	2.5%.		
2020,	Huntington’s	stress	capital	buffer	is	2.5%.		

The	final	rule	also	makes	related	changes	to	the	capital	planning	and	stress	testing	process.		Among	other	
The	final	rule	also	makes	related	changes	to	the	capital	planning	and	stress	testing	process.		Among	other	
changes,	the	revised	capital	plan	rule	eliminates	the	assumption	that	Huntington’s	balance	sheet	assets	would	
changes,	the	revised	capital	plan	rule	eliminates	the	assumption	that	Huntington’s	balance	sheet	assets	would	
increase	over	the	planning	horizon.		In	addition,	provided	that	Huntington	is	otherwise	in	compliance	with	automatic	
increase	over	the	planning	horizon.		In	addition,	provided	that	Huntington	is	otherwise	in	compliance	with	automatic	
restrictions	on	distributions	under	the	Federal	Reserve’s	capital	rules,	Huntington	will	no	longer	be	required	to	seek	
restrictions	on	distributions	under	the	Federal	Reserve’s	capital	rules,	Huntington	will	no	longer	be	required	to	seek	
prior	approval	to	make	capital	distributions	in	excess	of	those	included	in	its	capital	plan.	
prior	approval	to	make	capital	distributions	in	excess	of	those	included	in	its	capital	plan.	

Restrictions	on	Dividends
Restrictions	on	Dividends

Huntington	is	a	legal	entity	separate	and	distinct	from	its	banking	and	non-banking	subsidiaries.		Since	our	
Huntington	is	a	legal	entity	separate	and	distinct	from	its	banking	and	non-banking	subsidiaries.		Since	our	
consolidated	net	income	consists	largely	of	net	income	of	Huntington’s	subsidiaries,	our	ability	to	make	capital	
consolidated	net	income	consists	largely	of	net	income	of	Huntington’s	subsidiaries,	our	ability	to	make	capital	
distributions,	including	paying	dividends	and	repurchasing	shares,	depends	upon	our	receipt	of	dividends	from	these	
distributions,	including	paying	dividends	and	repurchasing	shares,	depends	upon	our	receipt	of	dividends	from	these	
subsidiaries.		Under	federal	law,	there	are	various	limitations	on	the	extent	to	which	the	Bank	can	declare	and	pay	
subsidiaries.		Under	federal	law,	there	are	various	limitations	on	the	extent	to	which	the	Bank	can	declare	and	pay	
dividends	to	Huntington,	including	those	related	to	regulatory	capital	requirements,	general	regulatory	oversight	to	
dividends	to	Huntington,	including	those	related	to	regulatory	capital	requirements,	general	regulatory	oversight	to	
prevent	unsafe	or	unsound	practices,	and	federal	banking	law	requirements	concerning	the	payment	of	dividends	
prevent	unsafe	or	unsound	practices,	and	federal	banking	law	requirements	concerning	the	payment	of	dividends	
out	of	net	profits,	surplus,	and	available	earnings.		Certain	contractual	restrictions	also	may	limit	the	ability	of	the	
out	of	net	profits,	surplus,	and	available	earnings.		Certain	contractual	restrictions	also	may	limit	the	ability	of	the	
Bank	to	pay	dividends	to	Huntington.		No	assurances	can	be	given	that	the	Bank	will,	in	any	circumstances,	pay	
Bank	to	pay	dividends	to	Huntington.		No	assurances	can	be	given	that	the	Bank	will,	in	any	circumstances,	pay	
dividends	to	Huntington.		
dividends	to	Huntington.		

Huntington’s	ability	to	declare	and	pay	dividends	to	our	shareholders	is	similarly	limited	by	federal	banking	law	
Huntington’s	ability	to	declare	and	pay	dividends	to	our	shareholders	is	similarly	limited	by	federal	banking	law	

and	Federal	Reserve	regulations	and	policy.		As	discussed	in	the	Capital	Planning	section	above,	a	BHC	may	pay	
and	Federal	Reserve	regulations	and	policy.		As	discussed	in	the	Capital	Planning	section	above,	a	BHC	may	pay	
dividends	and	repurchase	stock	only	in	accordance	with	a	capital	plan	that	has	been	reviewed	by	the	Federal	
dividends	and	repurchase	stock	only	in	accordance	with	a	capital	plan	that	has	been	reviewed	by	the	Federal	
Reserve	and	as	to	which	the	Federal	Reserve	has	not	objected.		The	FRB	announced	that	certain	large	BHCs,	
Reserve	and	as	to	which	the	Federal	Reserve	has	not	objected.		The	FRB	announced	that	certain	large	BHCs,	
including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	
including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	
2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	bank's	average	
2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	bank's	average	
net	income	for	the	four	preceding	quarters.
net	income	for	the	four	preceding	quarters.

Huntington	must	maintain	the	applicable	stress	capital	buffer	and	the	Bank	must	maintain	the	CET1	Capital	
Huntington	must	maintain	the	applicable	stress	capital	buffer	and	the	Bank	must	maintain	the	CET1	Capital	
Conservation	Buffer	of	2.5%	to	avoid	becoming	subject	to	restrictions	on	capital	distributions,	including	dividends.		
Conservation	Buffer	of	2.5%	to	avoid	becoming	subject	to	restrictions	on	capital	distributions,	including	dividends.		

16					Huntington	Bancshares	Incorporated

16					Huntington	Bancshares	Incorporated

2020	Form	10-K					17
2020	Form	10-K					17

For	more	information	on	the	stress	buffer	requirements	and	the	Capital	Conservation	Buffer,	see	the	Stress	Capital	
For	more	information	on	the	stress	buffer	requirements	and	the	Capital	Conservation	Buffer,	see	the	Stress	Capital	
Buffer	Requirements	and	the	Regulatory	Capital	Requirements	sections	above,	respectively.
Buffer	Requirements	and	the	Regulatory	Capital	Requirements	sections	above,	respectively.

Recovery	and	Resolution	Planning

Recovery	and	Resolution	Planning

Federal	Reserve	policy	provides	that	a	BHC	generally	should	not	pay	dividends	unless	(1)	the	BHC’s	net	income	
Federal	Reserve	policy	provides	that	a	BHC	generally	should	not	pay	dividends	unless	(1)	the	BHC’s	net	income	
over	the	last	four	quarters	(net	of	dividends	paid)	is	sufficient	to	fully	fund	the	dividends,	(2)	the	prospective	rate	of	
over	the	last	four	quarters	(net	of	dividends	paid)	is	sufficient	to	fully	fund	the	dividends,	(2)	the	prospective	rate	of	
earnings	retention	appears	consistent	with	the	capital	needs,	asset	quality,	and	overall	financial	condition	of	the	BHC	
earnings	retention	appears	consistent	with	the	capital	needs,	asset	quality,	and	overall	financial	condition	of	the	BHC	
and	its	subsidiaries,	and	(3)	the	BHC	will	continue	to	meet	minimum	required	capital	adequacy	ratios.		Accordingly,	a	
and	its	subsidiaries,	and	(3)	the	BHC	will	continue	to	meet	minimum	required	capital	adequacy	ratios.		Accordingly,	a	
BHC	should	not	pay	cash	dividends	that	can	only	be	funded	in	ways	that	weaken	the	BHC’s	financial	health,	such	as	
BHC	should	not	pay	cash	dividends	that	can	only	be	funded	in	ways	that	weaken	the	BHC’s	financial	health,	such	as	
by	borrowing.		A	BHC	should	inform	the	Federal	Reserve	reasonably	in	advance	of	declaring	or	paying	a	dividend	that	
by	borrowing.		A	BHC	should	inform	the	Federal	Reserve	reasonably	in	advance	of	declaring	or	paying	a	dividend	that	
exceeds	earnings	for	the	period	for	which	the	dividend	is	being	paid	or	that	could	result	in	a	material	adverse	change	
exceeds	earnings	for	the	period	for	which	the	dividend	is	being	paid	or	that	could	result	in	a	material	adverse	change	
to	the	BHC’s	capital	structure.		BHCs	should	also	consult	with	the	Federal	Reserve	before	increasing	dividends	or	
to	the	BHC’s	capital	structure.		BHCs	should	also	consult	with	the	Federal	Reserve	before	increasing	dividends	or	
redeeming	or	repurchasing	capital	instruments.		Additionally,	the	Federal	Reserve	could	prohibit	or	limit	the	
redeeming	or	repurchasing	capital	instruments.		Additionally,	the	Federal	Reserve	could	prohibit	or	limit	the	
payment	of	dividends	by	a	BHC	if	it	determines	that	payment	of	the	dividend	would	constitute	an	unsafe	or	unsound	
payment	of	dividends	by	a	BHC	if	it	determines	that	payment	of	the	dividend	would	constitute	an	unsafe	or	unsound	
practice.
practice.

In	response	to	the	uncertainty	caused	by	the	COVID-19	pandemic,	certain	large	BHCs,	including	Huntington,	
In	response	to	the	uncertainty	caused	by	the	COVID-19	pandemic,	certain	large	BHCs,	including	Huntington,	

were	not	permitted	to	make	share	repurchases,	subject	to	certain	limited	exceptions,	during	the	third	and	fourth	
were	not	permitted	to	make	share	repurchases,	subject	to	certain	limited	exceptions,	during	the	third	and	fourth	
quarters	of	2020,	but	were	permitted	to	make	dividend	payments	subject	to	limits	based	on	the	amount	of	
quarters	of	2020,	but	were	permitted	to	make	dividend	payments	subject	to	limits	based	on	the	amount	of	
dividends	paid	in	the	second	quarter	and	the	firm’s	average	net	income	over	the	preceding	four	quarters.		For	the	
dividends	paid	in	the	second	quarter	and	the	firm’s	average	net	income	over	the	preceding	four	quarters.		For	the	
first	quarter	of	2021,	provided	that	a	BHC	does	not	increase	its	common	stock	dividends	higher	than	the	level	paid	in	
first	quarter	of	2021,	provided	that	a	BHC	does	not	increase	its	common	stock	dividends	higher	than	the	level	paid	in	
the	second	quarter	of	2020,	BHCs,	including	Huntington,	are	permitted	to	pay	common	dividends	and	make	share	
the	second	quarter	of	2020,	BHCs,	including	Huntington,	are	permitted	to	pay	common	dividends	and	make	share	
repurchases	that,	in	the	aggregate,	do	not	exceed	an	amount	equal	to	the	average	of	the	firm’s	net	income	over	the	
repurchases	that,	in	the	aggregate,	do	not	exceed	an	amount	equal	to	the	average	of	the	firm’s	net	income	over	the	
four	preceding	calendar	quarters.		BHCs	may	also	make	additional	share	repurchases	up	to	the	amount	of	share	
four	preceding	calendar	quarters.		BHCs	may	also	make	additional	share	repurchases	up	to	the	amount	of	share	
issuances	related	to	expensed	employee	compensation.		
issuances	related	to	expensed	employee	compensation.		

Volcker	Rule
Volcker	Rule

Under	the	Volcker	Rule,	we	are	prohibited	from	(1)	engaging	in	short-term	proprietary	trading	for	our	own	
Under	the	Volcker	Rule,	we	are	prohibited	from	(1)	engaging	in	short-term	proprietary	trading	for	our	own	
account	and	(2)	having	certain	ownership	interests	in	and	relationships	with	hedge	funds	or	private	equity	funds	
account	and	(2)	having	certain	ownership	interests	in	and	relationships	with	hedge	funds	or	private	equity	funds	
(covered	funds).		The	Volcker	Rule	regulations	contain	exemptions	for	market-making,	hedging,	underwriting,	
(covered	funds).		The	Volcker	Rule	regulations	contain	exemptions	for	market-making,	hedging,	underwriting,	
trading	in	U.S.	government	and	agency	obligations,	and	also	permit	certain	ownership	interests	in	certain	types	of	
trading	in	U.S.	government	and	agency	obligations,	and	also	permit	certain	ownership	interests	in	certain	types	of	
covered	funds	to	be	retained.		They	also	permit	the	offering	and	sponsoring	of	covered	funds	under	certain	
covered	funds	to	be	retained.		They	also	permit	the	offering	and	sponsoring	of	covered	funds	under	certain	
conditions.		The	Volcker	Rule	regulations	impose	significant	compliance	and	reporting	obligations	on	banking	
conditions.		The	Volcker	Rule	regulations	impose	significant	compliance	and	reporting	obligations	on	banking	
entities,	such	as	Huntington.		We	have	put	in	place	the	compliance	programs	required	by	the	Volcker	Rule	and	have	
entities,	such	as	Huntington.		We	have	put	in	place	the	compliance	programs	required	by	the	Volcker	Rule	and	have	
either	divested	or	received	extensions	for	any	holdings	in	illiquid	covered	funds.		
either	divested	or	received	extensions	for	any	holdings	in	illiquid	covered	funds.		

The	five	federal	agencies	implementing	the	Volcker	Rule	regulations	have	approved	an	interim	final	rule	to	
The	five	federal	agencies	implementing	the	Volcker	Rule	regulations	have	approved	an	interim	final	rule	to	

permit	banking	entities	to	retain	interests	in	certain	collateralized	debt	obligations	backed	primarily	by	trust	
permit	banking	entities	to	retain	interests	in	certain	collateralized	debt	obligations	backed	primarily	by	trust	
preferred	securities	if	certain	qualifications	are	met.		In	addition,	the	agencies	released	a	non-exclusive	list	of	issuers	
preferred	securities	if	certain	qualifications	are	met.		In	addition,	the	agencies	released	a	non-exclusive	list	of	issuers	
that	meet	the	requirements	of	the	interim	final	rule.		As	of	December	31,	2020,	we	had	no	investments	in	trust	
that	meet	the	requirements	of	the	interim	final	rule.		As	of	December	31,	2020,	we	had	no	investments	in	trust	
preferred	securities.
preferred	securities.

As	of	October	2019,	the	five	federal	agencies	with	rulemaking	authority	with	respect	to	the	Volcker	Rule	
As	of	October	2019,	the	five	federal	agencies	with	rulemaking	authority	with	respect	to	the	Volcker	Rule	
finalized	amendments	to	the	proprietary	trading	provisions	of	the	Volcker	Rule.		These	amendments	tailor	the	
finalized	amendments	to	the	proprietary	trading	provisions	of	the	Volcker	Rule.		These	amendments	tailor	the	
Volcker	Rule’s	compliance	requirements	to	the	amount	of	a	firm’s	trading	activity,	revise	the	definition	of	trading	
Volcker	Rule’s	compliance	requirements	to	the	amount	of	a	firm’s	trading	activity,	revise	the	definition	of	trading	
account,	clarify	certain	key	provisions	in	the	Volcker	Rule,	and	modify	the	information	companies	are	required	to	
account,	clarify	certain	key	provisions	in	the	Volcker	Rule,	and	modify	the	information	companies	are	required	to	
provide	the	federal	agencies.		These	amendments	to	the	Volcker	Rule	are	not	material	to	our	investing	and	trading	
provide	the	federal	agencies.		These	amendments	to	the	Volcker	Rule	are	not	material	to	our	investing	and	trading	
activities.
activities.

In	June	2020,	the	five	federal	agencies	finalized	amendments	to	the	Volcker	Rule’s	restrictions	on	ownership	
In	June	2020,	the	five	federal	agencies	finalized	amendments	to	the	Volcker	Rule’s	restrictions	on	ownership	
interests	in	and	relationships	with	covered	funds.		Among	other	things,	these	amendments	permit	banking	entities	
interests	in	and	relationships	with	covered	funds.		Among	other	things,	these	amendments	permit	banking	entities	
to	have	relationships	with	and	offer	additional	financial	services	to	additional	types	of	funds	and	investment	
to	have	relationships	with	and	offer	additional	financial	services	to	additional	types	of	funds	and	investment	
vehicles.		These	requirements	are	not	expected	to	have	a	material	impact	on	Huntington’s	investing	and	trading	
vehicles.		These	requirements	are	not	expected	to	have	a	material	impact	on	Huntington’s	investing	and	trading	
activities.		
activities.		

In	past	years,	Huntington	was	required	to	submit	annually	to	the	Federal	Reserve	and	the	FDIC	a	resolution	plan	

In	past	years,	Huntington	was	required	to	submit	annually	to	the	Federal	Reserve	and	the	FDIC	a	resolution	plan	

for	the	orderly	resolution	of	Huntington	and	its	significant	legal	entities	under	the	U.S.	Bankruptcy	Code	or	other	

for	the	orderly	resolution	of	Huntington	and	its	significant	legal	entities	under	the	U.S.	Bankruptcy	Code	or	other	

applicable	insolvency	laws	in	a	rapid	and	orderly	fashion	in	the	event	of	future	material	financial	distress	or	failure.		

applicable	insolvency	laws	in	a	rapid	and	orderly	fashion	in	the	event	of	future	material	financial	distress	or	failure.		

In	October	2019,	the	Federal	Reserve	and	the	FDIC	adopted	amendments	to	their	resolution	planning	rule,	and	as	a	

In	October	2019,	the	Federal	Reserve	and	the	FDIC	adopted	amendments	to	their	resolution	planning	rule,	and	as	a	

result	of	these	amendments,	Huntington	is	no	longer	required	to	submit	a	resolution	plan	to	the	Federal	Reserve	

result	of	these	amendments,	Huntington	is	no	longer	required	to	submit	a	resolution	plan	to	the	Federal	Reserve	

and	the	FDIC.		

and	the	FDIC.		

The	Bank	is	required	to	periodically	file	a	resolution	plan	with	the	FDIC.		The	public	versions	of	the	resolution	

The	Bank	is	required	to	periodically	file	a	resolution	plan	with	the	FDIC.		The	public	versions	of	the	resolution	

plans	previously	submitted	by	Huntington	and	the	Bank	are	available	on	the	FDIC’s	website	and,	in	the	case	of	

plans	previously	submitted	by	Huntington	and	the	Bank	are	available	on	the	FDIC’s	website	and,	in	the	case	of	

Huntington’s	resolution	plans,	also	on	the	Federal	Reserve’s	website.

Huntington’s	resolution	plans,	also	on	the	Federal	Reserve’s	website.

In	April	2019,	the	FDIC	released	an	advanced	notice	of	proposed	rulemaking	with	respect	to	the	FDIC’s	bank	

In	April	2019,	the	FDIC	released	an	advanced	notice	of	proposed	rulemaking	with	respect	to	the	FDIC’s	bank	

resolution	plan	requirements	that	requested	comments	on	how	to	better	tailor	bank	resolution	plans	to	a	firm’s	size,	

resolution	plan	requirements	that	requested	comments	on	how	to	better	tailor	bank	resolution	plans	to	a	firm’s	size,	

complexity,	and	risk	profile,	and	delayed	bank	resolution	plan	submissions	to	the	rulemaking	process.		The	FDIC	

complexity,	and	risk	profile,	and	delayed	bank	resolution	plan	submissions	to	the	rulemaking	process.		The	FDIC	

announced	in	January	2021	that	it	will	resume	requiring	bank-level	resolution	plan	submissions,	but	will	not	require	

announced	in	January	2021	that	it	will	resume	requiring	bank-level	resolution	plan	submissions,	but	will	not	require	

banks	to	submit	resolution	plans	without	at	least	12	months	advance	notice,	and	as	a	result,	the	Bank	does	not	

banks	to	submit	resolution	plans	without	at	least	12	months	advance	notice,	and	as	a	result,	the	Bank	does	not	

currently	have	an	anticipated	submission	date	for	its	next	resolution	plan.

currently	have	an	anticipated	submission	date	for	its	next	resolution	plan.

Source	of	Strength

Source	of	Strength

Huntington	is	required	to	serve	as	a	source	of	financial	and	managerial	strength	to	the	Bank	and,	under	

Huntington	is	required	to	serve	as	a	source	of	financial	and	managerial	strength	to	the	Bank	and,	under	

appropriate	conditions,	to	commit	resources	to	support	the	Bank.		This	support	may	be	required	by	the	Federal	

appropriate	conditions,	to	commit	resources	to	support	the	Bank.		This	support	may	be	required	by	the	Federal	

Reserve	at	times	when	we	might	otherwise	determine	not	to	provide	it	or	when	doing	so	is	not	otherwise	in	the	

Reserve	at	times	when	we	might	otherwise	determine	not	to	provide	it	or	when	doing	so	is	not	otherwise	in	the	

interests	of	Huntington	or	our	shareholders	or	creditors.		The	Federal	Reserve	may	require	a	BHC	to	make	capital	

interests	of	Huntington	or	our	shareholders	or	creditors.		The	Federal	Reserve	may	require	a	BHC	to	make	capital	

injections	into	a	troubled	subsidiary	bank	and	may	charge	the	BHC	with	engaging	in	unsafe	and	unsound	practices	if	

injections	into	a	troubled	subsidiary	bank	and	may	charge	the	BHC	with	engaging	in	unsafe	and	unsound	practices	if	

the	BHC	fails	to	commit	resources	to	such	a	subsidiary	bank	or	if	it	undertakes	actions	that	the	Federal	Reserve	

the	BHC	fails	to	commit	resources	to	such	a	subsidiary	bank	or	if	it	undertakes	actions	that	the	Federal	Reserve	

believes	might	jeopardize	the	BHC’s	ability	to	commit	resources	to	such	subsidiary	bank.

believes	might	jeopardize	the	BHC’s	ability	to	commit	resources	to	such	subsidiary	bank.

Under	these	requirements,	Huntington	may	in	the	future	be	required	to	provide	financial	assistance	to	the	Bank	

Under	these	requirements,	Huntington	may	in	the	future	be	required	to	provide	financial	assistance	to	the	Bank	

should	it	experience	financial	distress.		Capital	loans	by	Huntington	to	the	Bank	would	be	subordinate	in	right	of	

should	it	experience	financial	distress.		Capital	loans	by	Huntington	to	the	Bank	would	be	subordinate	in	right	of	

payment	to	deposits	and	certain	other	debts	of	the	Bank.		In	the	event	of	Huntington’s	bankruptcy,	any	commitment	

payment	to	deposits	and	certain	other	debts	of	the	Bank.		In	the	event	of	Huntington’s	bankruptcy,	any	commitment	

by	Huntington	to	a	federal	bank	regulatory	agency	to	maintain	the	capital	of	the	Bank	would	be	assumed	by	the	

by	Huntington	to	a	federal	bank	regulatory	agency	to	maintain	the	capital	of	the	Bank	would	be	assumed	by	the	

bankruptcy	trustee	and	entitled	to	a	priority	of	payment.

bankruptcy	trustee	and	entitled	to	a	priority	of	payment.

FDIC	as	Receiver	or	Conservator	of	Huntington

FDIC	as	Receiver	or	Conservator	of	Huntington

Upon	the	insolvency	of	an	insured	depository	institution,	such	as	the	Bank,	the	FDIC	may	be	appointed	as	the	

Upon	the	insolvency	of	an	insured	depository	institution,	such	as	the	Bank,	the	FDIC	may	be	appointed	as	the	

conservator	or	receiver	of	the	institution.		Under	the	Orderly	Liquidation	Authority,	upon	the	insolvency	of	a	BHC,	

conservator	or	receiver	of	the	institution.		Under	the	Orderly	Liquidation	Authority,	upon	the	insolvency	of	a	BHC,	

such	as	Huntington,	the	FDIC	may	be	appointed	as	conservator	or	receiver	of	the	BHC,	if	certain	findings	are	made	by	

such	as	Huntington,	the	FDIC	may	be	appointed	as	conservator	or	receiver	of	the	BHC,	if	certain	findings	are	made	by	

the	FDIC,	the	Federal	Reserve,	and	the	Secretary	of	the	Treasury,	in	consultation	with	the	President.		Acting	as	a	

the	FDIC,	the	Federal	Reserve,	and	the	Secretary	of	the	Treasury,	in	consultation	with	the	President.		Acting	as	a	

conservator	or	receiver,	the	FDIC	would	have	broad	powers	to	transfer	any	assets	or	liabilities	of	the	institution	

conservator	or	receiver,	the	FDIC	would	have	broad	powers	to	transfer	any	assets	or	liabilities	of	the	institution	

without	the	approval	of	the	institution’s	creditors.

without	the	approval	of	the	institution’s	creditors.

Depositor	Preference

Depositor	Preference

The	FDIA	provides	that,	in	the	event	of	the	liquidation	or	other	resolution	of	an	insured	depository	institution,	

The	FDIA	provides	that,	in	the	event	of	the	liquidation	or	other	resolution	of	an	insured	depository	institution,	

including	the	Bank,	the	claims	of	depositors	of	the	institution	(including	the	claims	of	the	FDIC	as	subrogee	of	insured	

including	the	Bank,	the	claims	of	depositors	of	the	institution	(including	the	claims	of	the	FDIC	as	subrogee	of	insured	

depositors)	and	certain	claims	for	administrative	expenses	of	the	FDIC	as	a	receiver	would	have	priority	over	other	

depositors)	and	certain	claims	for	administrative	expenses	of	the	FDIC	as	a	receiver	would	have	priority	over	other	

general	unsecured	claims	against	the	institution.		If	the	Bank	were	to	fail,	insured	and	uninsured	depositors,	along	

general	unsecured	claims	against	the	institution.		If	the	Bank	were	to	fail,	insured	and	uninsured	depositors,	along	

with	the	FDIC,	would	have	priority	in	payment	ahead	of	unsecured,	non-deposit	creditors,	including	Huntington,	with	

with	the	FDIC,	would	have	priority	in	payment	ahead	of	unsecured,	non-deposit	creditors,	including	Huntington,	with	

respect	to	any	extensions	of	credit	they	have	made	to	such	insured	depository	institution.

respect	to	any	extensions	of	credit	they	have	made	to	such	insured	depository	institution.

Transactions	between	a	Bank	and	its	Affiliates

Transactions	between	a	Bank	and	its	Affiliates

Federal	banking	laws	and	regulations	impose	qualitative	standards	and	quantitative	limitations	upon	certain	

Federal	banking	laws	and	regulations	impose	qualitative	standards	and	quantitative	limitations	upon	certain	

transactions	between	a	bank	and	its	affiliates,	including	between	a	bank	and	its	holding	company	and	companies	

transactions	between	a	bank	and	its	affiliates,	including	between	a	bank	and	its	holding	company	and	companies	

that	the	BHC	may	be	deemed	to	control	for	these	purposes.		Transactions	covered	by	these	provisions	must	be	on	

that	the	BHC	may	be	deemed	to	control	for	these	purposes.		Transactions	covered	by	these	provisions	must	be	on	

18					Huntington	Bancshares	Incorporated
18					Huntington	Bancshares	Incorporated

2020	Form	10-K					19

2020	Form	10-K					19

For	more	information	on	the	stress	buffer	requirements	and	the	Capital	Conservation	Buffer,	see	the	Stress	Capital	

For	more	information	on	the	stress	buffer	requirements	and	the	Capital	Conservation	Buffer,	see	the	Stress	Capital	

Recovery	and	Resolution	Planning
Recovery	and	Resolution	Planning

Buffer	Requirements	and	the	Regulatory	Capital	Requirements	sections	above,	respectively.

Buffer	Requirements	and	the	Regulatory	Capital	Requirements	sections	above,	respectively.

Federal	Reserve	policy	provides	that	a	BHC	generally	should	not	pay	dividends	unless	(1)	the	BHC’s	net	income	

Federal	Reserve	policy	provides	that	a	BHC	generally	should	not	pay	dividends	unless	(1)	the	BHC’s	net	income	

over	the	last	four	quarters	(net	of	dividends	paid)	is	sufficient	to	fully	fund	the	dividends,	(2)	the	prospective	rate	of	

over	the	last	four	quarters	(net	of	dividends	paid)	is	sufficient	to	fully	fund	the	dividends,	(2)	the	prospective	rate	of	

earnings	retention	appears	consistent	with	the	capital	needs,	asset	quality,	and	overall	financial	condition	of	the	BHC	

earnings	retention	appears	consistent	with	the	capital	needs,	asset	quality,	and	overall	financial	condition	of	the	BHC	

and	its	subsidiaries,	and	(3)	the	BHC	will	continue	to	meet	minimum	required	capital	adequacy	ratios.		Accordingly,	a	

and	its	subsidiaries,	and	(3)	the	BHC	will	continue	to	meet	minimum	required	capital	adequacy	ratios.		Accordingly,	a	

BHC	should	not	pay	cash	dividends	that	can	only	be	funded	in	ways	that	weaken	the	BHC’s	financial	health,	such	as	

BHC	should	not	pay	cash	dividends	that	can	only	be	funded	in	ways	that	weaken	the	BHC’s	financial	health,	such	as	

by	borrowing.		A	BHC	should	inform	the	Federal	Reserve	reasonably	in	advance	of	declaring	or	paying	a	dividend	that	

by	borrowing.		A	BHC	should	inform	the	Federal	Reserve	reasonably	in	advance	of	declaring	or	paying	a	dividend	that	

exceeds	earnings	for	the	period	for	which	the	dividend	is	being	paid	or	that	could	result	in	a	material	adverse	change	

exceeds	earnings	for	the	period	for	which	the	dividend	is	being	paid	or	that	could	result	in	a	material	adverse	change	

to	the	BHC’s	capital	structure.		BHCs	should	also	consult	with	the	Federal	Reserve	before	increasing	dividends	or	

to	the	BHC’s	capital	structure.		BHCs	should	also	consult	with	the	Federal	Reserve	before	increasing	dividends	or	

redeeming	or	repurchasing	capital	instruments.		Additionally,	the	Federal	Reserve	could	prohibit	or	limit	the	

redeeming	or	repurchasing	capital	instruments.		Additionally,	the	Federal	Reserve	could	prohibit	or	limit	the	

payment	of	dividends	by	a	BHC	if	it	determines	that	payment	of	the	dividend	would	constitute	an	unsafe	or	unsound	

payment	of	dividends	by	a	BHC	if	it	determines	that	payment	of	the	dividend	would	constitute	an	unsafe	or	unsound	

practice.

practice.

In	response	to	the	uncertainty	caused	by	the	COVID-19	pandemic,	certain	large	BHCs,	including	Huntington,	

In	response	to	the	uncertainty	caused	by	the	COVID-19	pandemic,	certain	large	BHCs,	including	Huntington,	

were	not	permitted	to	make	share	repurchases,	subject	to	certain	limited	exceptions,	during	the	third	and	fourth	

were	not	permitted	to	make	share	repurchases,	subject	to	certain	limited	exceptions,	during	the	third	and	fourth	

quarters	of	2020,	but	were	permitted	to	make	dividend	payments	subject	to	limits	based	on	the	amount	of	

quarters	of	2020,	but	were	permitted	to	make	dividend	payments	subject	to	limits	based	on	the	amount	of	

dividends	paid	in	the	second	quarter	and	the	firm’s	average	net	income	over	the	preceding	four	quarters.		For	the	

dividends	paid	in	the	second	quarter	and	the	firm’s	average	net	income	over	the	preceding	four	quarters.		For	the	

first	quarter	of	2021,	provided	that	a	BHC	does	not	increase	its	common	stock	dividends	higher	than	the	level	paid	in	

first	quarter	of	2021,	provided	that	a	BHC	does	not	increase	its	common	stock	dividends	higher	than	the	level	paid	in	

the	second	quarter	of	2020,	BHCs,	including	Huntington,	are	permitted	to	pay	common	dividends	and	make	share	

the	second	quarter	of	2020,	BHCs,	including	Huntington,	are	permitted	to	pay	common	dividends	and	make	share	

repurchases	that,	in	the	aggregate,	do	not	exceed	an	amount	equal	to	the	average	of	the	firm’s	net	income	over	the	

repurchases	that,	in	the	aggregate,	do	not	exceed	an	amount	equal	to	the	average	of	the	firm’s	net	income	over	the	

four	preceding	calendar	quarters.		BHCs	may	also	make	additional	share	repurchases	up	to	the	amount	of	share	

four	preceding	calendar	quarters.		BHCs	may	also	make	additional	share	repurchases	up	to	the	amount	of	share	

issuances	related	to	expensed	employee	compensation.		

issuances	related	to	expensed	employee	compensation.		

Volcker	Rule

Volcker	Rule

Under	the	Volcker	Rule,	we	are	prohibited	from	(1)	engaging	in	short-term	proprietary	trading	for	our	own	

Under	the	Volcker	Rule,	we	are	prohibited	from	(1)	engaging	in	short-term	proprietary	trading	for	our	own	

account	and	(2)	having	certain	ownership	interests	in	and	relationships	with	hedge	funds	or	private	equity	funds	

account	and	(2)	having	certain	ownership	interests	in	and	relationships	with	hedge	funds	or	private	equity	funds	

(covered	funds).		The	Volcker	Rule	regulations	contain	exemptions	for	market-making,	hedging,	underwriting,	

(covered	funds).		The	Volcker	Rule	regulations	contain	exemptions	for	market-making,	hedging,	underwriting,	

trading	in	U.S.	government	and	agency	obligations,	and	also	permit	certain	ownership	interests	in	certain	types	of	

trading	in	U.S.	government	and	agency	obligations,	and	also	permit	certain	ownership	interests	in	certain	types	of	

covered	funds	to	be	retained.		They	also	permit	the	offering	and	sponsoring	of	covered	funds	under	certain	

covered	funds	to	be	retained.		They	also	permit	the	offering	and	sponsoring	of	covered	funds	under	certain	

conditions.		The	Volcker	Rule	regulations	impose	significant	compliance	and	reporting	obligations	on	banking	

conditions.		The	Volcker	Rule	regulations	impose	significant	compliance	and	reporting	obligations	on	banking	

entities,	such	as	Huntington.		We	have	put	in	place	the	compliance	programs	required	by	the	Volcker	Rule	and	have	

entities,	such	as	Huntington.		We	have	put	in	place	the	compliance	programs	required	by	the	Volcker	Rule	and	have	

either	divested	or	received	extensions	for	any	holdings	in	illiquid	covered	funds.		

either	divested	or	received	extensions	for	any	holdings	in	illiquid	covered	funds.		

The	five	federal	agencies	implementing	the	Volcker	Rule	regulations	have	approved	an	interim	final	rule	to	

The	five	federal	agencies	implementing	the	Volcker	Rule	regulations	have	approved	an	interim	final	rule	to	

permit	banking	entities	to	retain	interests	in	certain	collateralized	debt	obligations	backed	primarily	by	trust	

permit	banking	entities	to	retain	interests	in	certain	collateralized	debt	obligations	backed	primarily	by	trust	

preferred	securities	if	certain	qualifications	are	met.		In	addition,	the	agencies	released	a	non-exclusive	list	of	issuers	

preferred	securities	if	certain	qualifications	are	met.		In	addition,	the	agencies	released	a	non-exclusive	list	of	issuers	

that	meet	the	requirements	of	the	interim	final	rule.		As	of	December	31,	2020,	we	had	no	investments	in	trust	

that	meet	the	requirements	of	the	interim	final	rule.		As	of	December	31,	2020,	we	had	no	investments	in	trust	

preferred	securities.

preferred	securities.

As	of	October	2019,	the	five	federal	agencies	with	rulemaking	authority	with	respect	to	the	Volcker	Rule	

As	of	October	2019,	the	five	federal	agencies	with	rulemaking	authority	with	respect	to	the	Volcker	Rule	

finalized	amendments	to	the	proprietary	trading	provisions	of	the	Volcker	Rule.		These	amendments	tailor	the	

finalized	amendments	to	the	proprietary	trading	provisions	of	the	Volcker	Rule.		These	amendments	tailor	the	

Volcker	Rule’s	compliance	requirements	to	the	amount	of	a	firm’s	trading	activity,	revise	the	definition	of	trading	

Volcker	Rule’s	compliance	requirements	to	the	amount	of	a	firm’s	trading	activity,	revise	the	definition	of	trading	

account,	clarify	certain	key	provisions	in	the	Volcker	Rule,	and	modify	the	information	companies	are	required	to	

account,	clarify	certain	key	provisions	in	the	Volcker	Rule,	and	modify	the	information	companies	are	required	to	

provide	the	federal	agencies.		These	amendments	to	the	Volcker	Rule	are	not	material	to	our	investing	and	trading	

provide	the	federal	agencies.		These	amendments	to	the	Volcker	Rule	are	not	material	to	our	investing	and	trading	

In	June	2020,	the	five	federal	agencies	finalized	amendments	to	the	Volcker	Rule’s	restrictions	on	ownership	

In	June	2020,	the	five	federal	agencies	finalized	amendments	to	the	Volcker	Rule’s	restrictions	on	ownership	

interests	in	and	relationships	with	covered	funds.		Among	other	things,	these	amendments	permit	banking	entities	

interests	in	and	relationships	with	covered	funds.		Among	other	things,	these	amendments	permit	banking	entities	

to	have	relationships	with	and	offer	additional	financial	services	to	additional	types	of	funds	and	investment	

to	have	relationships	with	and	offer	additional	financial	services	to	additional	types	of	funds	and	investment	

vehicles.		These	requirements	are	not	expected	to	have	a	material	impact	on	Huntington’s	investing	and	trading	

vehicles.		These	requirements	are	not	expected	to	have	a	material	impact	on	Huntington’s	investing	and	trading	

activities.

activities.

activities.		

activities.		

In	past	years,	Huntington	was	required	to	submit	annually	to	the	Federal	Reserve	and	the	FDIC	a	resolution	plan	
In	past	years,	Huntington	was	required	to	submit	annually	to	the	Federal	Reserve	and	the	FDIC	a	resolution	plan	

for	the	orderly	resolution	of	Huntington	and	its	significant	legal	entities	under	the	U.S.	Bankruptcy	Code	or	other	
for	the	orderly	resolution	of	Huntington	and	its	significant	legal	entities	under	the	U.S.	Bankruptcy	Code	or	other	
applicable	insolvency	laws	in	a	rapid	and	orderly	fashion	in	the	event	of	future	material	financial	distress	or	failure.		
applicable	insolvency	laws	in	a	rapid	and	orderly	fashion	in	the	event	of	future	material	financial	distress	or	failure.		
In	October	2019,	the	Federal	Reserve	and	the	FDIC	adopted	amendments	to	their	resolution	planning	rule,	and	as	a	
In	October	2019,	the	Federal	Reserve	and	the	FDIC	adopted	amendments	to	their	resolution	planning	rule,	and	as	a	
result	of	these	amendments,	Huntington	is	no	longer	required	to	submit	a	resolution	plan	to	the	Federal	Reserve	
result	of	these	amendments,	Huntington	is	no	longer	required	to	submit	a	resolution	plan	to	the	Federal	Reserve	
and	the	FDIC.		
and	the	FDIC.		

The	Bank	is	required	to	periodically	file	a	resolution	plan	with	the	FDIC.		The	public	versions	of	the	resolution	
The	Bank	is	required	to	periodically	file	a	resolution	plan	with	the	FDIC.		The	public	versions	of	the	resolution	

plans	previously	submitted	by	Huntington	and	the	Bank	are	available	on	the	FDIC’s	website	and,	in	the	case	of	
plans	previously	submitted	by	Huntington	and	the	Bank	are	available	on	the	FDIC’s	website	and,	in	the	case	of	
Huntington’s	resolution	plans,	also	on	the	Federal	Reserve’s	website.
Huntington’s	resolution	plans,	also	on	the	Federal	Reserve’s	website.

In	April	2019,	the	FDIC	released	an	advanced	notice	of	proposed	rulemaking	with	respect	to	the	FDIC’s	bank	
In	April	2019,	the	FDIC	released	an	advanced	notice	of	proposed	rulemaking	with	respect	to	the	FDIC’s	bank	
resolution	plan	requirements	that	requested	comments	on	how	to	better	tailor	bank	resolution	plans	to	a	firm’s	size,	
resolution	plan	requirements	that	requested	comments	on	how	to	better	tailor	bank	resolution	plans	to	a	firm’s	size,	
complexity,	and	risk	profile,	and	delayed	bank	resolution	plan	submissions	to	the	rulemaking	process.		The	FDIC	
complexity,	and	risk	profile,	and	delayed	bank	resolution	plan	submissions	to	the	rulemaking	process.		The	FDIC	
announced	in	January	2021	that	it	will	resume	requiring	bank-level	resolution	plan	submissions,	but	will	not	require	
announced	in	January	2021	that	it	will	resume	requiring	bank-level	resolution	plan	submissions,	but	will	not	require	
banks	to	submit	resolution	plans	without	at	least	12	months	advance	notice,	and	as	a	result,	the	Bank	does	not	
banks	to	submit	resolution	plans	without	at	least	12	months	advance	notice,	and	as	a	result,	the	Bank	does	not	
currently	have	an	anticipated	submission	date	for	its	next	resolution	plan.
currently	have	an	anticipated	submission	date	for	its	next	resolution	plan.

Source	of	Strength
Source	of	Strength

Huntington	is	required	to	serve	as	a	source	of	financial	and	managerial	strength	to	the	Bank	and,	under	
Huntington	is	required	to	serve	as	a	source	of	financial	and	managerial	strength	to	the	Bank	and,	under	
appropriate	conditions,	to	commit	resources	to	support	the	Bank.		This	support	may	be	required	by	the	Federal	
appropriate	conditions,	to	commit	resources	to	support	the	Bank.		This	support	may	be	required	by	the	Federal	
Reserve	at	times	when	we	might	otherwise	determine	not	to	provide	it	or	when	doing	so	is	not	otherwise	in	the	
Reserve	at	times	when	we	might	otherwise	determine	not	to	provide	it	or	when	doing	so	is	not	otherwise	in	the	
interests	of	Huntington	or	our	shareholders	or	creditors.		The	Federal	Reserve	may	require	a	BHC	to	make	capital	
interests	of	Huntington	or	our	shareholders	or	creditors.		The	Federal	Reserve	may	require	a	BHC	to	make	capital	
injections	into	a	troubled	subsidiary	bank	and	may	charge	the	BHC	with	engaging	in	unsafe	and	unsound	practices	if	
injections	into	a	troubled	subsidiary	bank	and	may	charge	the	BHC	with	engaging	in	unsafe	and	unsound	practices	if	
the	BHC	fails	to	commit	resources	to	such	a	subsidiary	bank	or	if	it	undertakes	actions	that	the	Federal	Reserve	
the	BHC	fails	to	commit	resources	to	such	a	subsidiary	bank	or	if	it	undertakes	actions	that	the	Federal	Reserve	
believes	might	jeopardize	the	BHC’s	ability	to	commit	resources	to	such	subsidiary	bank.
believes	might	jeopardize	the	BHC’s	ability	to	commit	resources	to	such	subsidiary	bank.

Under	these	requirements,	Huntington	may	in	the	future	be	required	to	provide	financial	assistance	to	the	Bank	
Under	these	requirements,	Huntington	may	in	the	future	be	required	to	provide	financial	assistance	to	the	Bank	

should	it	experience	financial	distress.		Capital	loans	by	Huntington	to	the	Bank	would	be	subordinate	in	right	of	
should	it	experience	financial	distress.		Capital	loans	by	Huntington	to	the	Bank	would	be	subordinate	in	right	of	
payment	to	deposits	and	certain	other	debts	of	the	Bank.		In	the	event	of	Huntington’s	bankruptcy,	any	commitment	
payment	to	deposits	and	certain	other	debts	of	the	Bank.		In	the	event	of	Huntington’s	bankruptcy,	any	commitment	
by	Huntington	to	a	federal	bank	regulatory	agency	to	maintain	the	capital	of	the	Bank	would	be	assumed	by	the	
by	Huntington	to	a	federal	bank	regulatory	agency	to	maintain	the	capital	of	the	Bank	would	be	assumed	by	the	
bankruptcy	trustee	and	entitled	to	a	priority	of	payment.
bankruptcy	trustee	and	entitled	to	a	priority	of	payment.

FDIC	as	Receiver	or	Conservator	of	Huntington
FDIC	as	Receiver	or	Conservator	of	Huntington

Upon	the	insolvency	of	an	insured	depository	institution,	such	as	the	Bank,	the	FDIC	may	be	appointed	as	the	
Upon	the	insolvency	of	an	insured	depository	institution,	such	as	the	Bank,	the	FDIC	may	be	appointed	as	the	
conservator	or	receiver	of	the	institution.		Under	the	Orderly	Liquidation	Authority,	upon	the	insolvency	of	a	BHC,	
conservator	or	receiver	of	the	institution.		Under	the	Orderly	Liquidation	Authority,	upon	the	insolvency	of	a	BHC,	
such	as	Huntington,	the	FDIC	may	be	appointed	as	conservator	or	receiver	of	the	BHC,	if	certain	findings	are	made	by	
such	as	Huntington,	the	FDIC	may	be	appointed	as	conservator	or	receiver	of	the	BHC,	if	certain	findings	are	made	by	
the	FDIC,	the	Federal	Reserve,	and	the	Secretary	of	the	Treasury,	in	consultation	with	the	President.		Acting	as	a	
the	FDIC,	the	Federal	Reserve,	and	the	Secretary	of	the	Treasury,	in	consultation	with	the	President.		Acting	as	a	
conservator	or	receiver,	the	FDIC	would	have	broad	powers	to	transfer	any	assets	or	liabilities	of	the	institution	
conservator	or	receiver,	the	FDIC	would	have	broad	powers	to	transfer	any	assets	or	liabilities	of	the	institution	
without	the	approval	of	the	institution’s	creditors.
without	the	approval	of	the	institution’s	creditors.

Depositor	Preference
Depositor	Preference

The	FDIA	provides	that,	in	the	event	of	the	liquidation	or	other	resolution	of	an	insured	depository	institution,	
The	FDIA	provides	that,	in	the	event	of	the	liquidation	or	other	resolution	of	an	insured	depository	institution,	
including	the	Bank,	the	claims	of	depositors	of	the	institution	(including	the	claims	of	the	FDIC	as	subrogee	of	insured	
including	the	Bank,	the	claims	of	depositors	of	the	institution	(including	the	claims	of	the	FDIC	as	subrogee	of	insured	
depositors)	and	certain	claims	for	administrative	expenses	of	the	FDIC	as	a	receiver	would	have	priority	over	other	
depositors)	and	certain	claims	for	administrative	expenses	of	the	FDIC	as	a	receiver	would	have	priority	over	other	
general	unsecured	claims	against	the	institution.		If	the	Bank	were	to	fail,	insured	and	uninsured	depositors,	along	
general	unsecured	claims	against	the	institution.		If	the	Bank	were	to	fail,	insured	and	uninsured	depositors,	along	
with	the	FDIC,	would	have	priority	in	payment	ahead	of	unsecured,	non-deposit	creditors,	including	Huntington,	with	
with	the	FDIC,	would	have	priority	in	payment	ahead	of	unsecured,	non-deposit	creditors,	including	Huntington,	with	
respect	to	any	extensions	of	credit	they	have	made	to	such	insured	depository	institution.
respect	to	any	extensions	of	credit	they	have	made	to	such	insured	depository	institution.

Transactions	between	a	Bank	and	its	Affiliates
Transactions	between	a	Bank	and	its	Affiliates

Federal	banking	laws	and	regulations	impose	qualitative	standards	and	quantitative	limitations	upon	certain	
Federal	banking	laws	and	regulations	impose	qualitative	standards	and	quantitative	limitations	upon	certain	
transactions	between	a	bank	and	its	affiliates,	including	between	a	bank	and	its	holding	company	and	companies	
transactions	between	a	bank	and	its	affiliates,	including	between	a	bank	and	its	holding	company	and	companies	
that	the	BHC	may	be	deemed	to	control	for	these	purposes.		Transactions	covered	by	these	provisions	must	be	on	
that	the	BHC	may	be	deemed	to	control	for	these	purposes.		Transactions	covered	by	these	provisions	must	be	on	

18					Huntington	Bancshares	Incorporated

18					Huntington	Bancshares	Incorporated

2020	Form	10-K					19
2020	Form	10-K					19

arm’s-length	terms	and	cannot	exceed	certain	amounts	which	are	determined	with	reference	to	the	Bank’s	
arm’s-length	terms	and	cannot	exceed	certain	amounts	which	are	determined	with	reference	to	the	Bank’s	
regulatory	capital.		Moreover,	if	the	transaction	is	a	loan	or	other	extension	of	credit,	it	must	be	secured	by	collateral	
regulatory	capital.		Moreover,	if	the	transaction	is	a	loan	or	other	extension	of	credit,	it	must	be	secured	by	collateral	
in	an	amount	and	quality	expressly	prescribed	by	statute,	and	if	the	affiliate	is	unable	to	pledge	sufficient	collateral,	
in	an	amount	and	quality	expressly	prescribed	by	statute,	and	if	the	affiliate	is	unable	to	pledge	sufficient	collateral,	
the	BHC	may	be	required	to	provide	it.		The	Dodd-Frank	Act	expanded	the	coverage	and	scope	of	these	regulations,	
the	BHC	may	be	required	to	provide	it.		The	Dodd-Frank	Act	expanded	the	coverage	and	scope	of	these	regulations,	
including	by	applying	them	to	the	credit	exposure	arising	under	derivative	transactions,	repurchase	and	reverse	
including	by	applying	them	to	the	credit	exposure	arising	under	derivative	transactions,	repurchase	and	reverse	
repurchase	agreements,	and	securities	borrowing	and	lending	transactions.		Federal	banking	laws	also	place	similar	
repurchase	agreements,	and	securities	borrowing	and	lending	transactions.		Federal	banking	laws	also	place	similar	
restrictions	on	loans	and	other	extensions	of	credit	by	FDIC-insured	banks,	such	as	the	Bank,	and	their	subsidiaries	to	
restrictions	on	loans	and	other	extensions	of	credit	by	FDIC-insured	banks,	such	as	the	Bank,	and	their	subsidiaries	to	
their	directors,	executive	officers,	and	principal	shareholders.
their	directors,	executive	officers,	and	principal	shareholders.

Lending	Standards	and	Guidance
Lending	Standards	and	Guidance

The	federal	bank	regulatory	agencies	have	adopted	uniform	regulations	prescribing	standards	for	extensions	of	
The	federal	bank	regulatory	agencies	have	adopted	uniform	regulations	prescribing	standards	for	extensions	of	

credit	that	are	secured	by	liens	or	interests	in	real	estate	or	made	for	the	purpose	of	financing	permanent	
credit	that	are	secured	by	liens	or	interests	in	real	estate	or	made	for	the	purpose	of	financing	permanent	
improvements	to	real	estate.		Under	these	regulations,	all	insured	depository	institutions,	such	as	the	Bank,	must	
improvements	to	real	estate.		Under	these	regulations,	all	insured	depository	institutions,	such	as	the	Bank,	must	
adopt	and	maintain	written	policies	establishing	appropriate	limits	and	standards	for	extensions	of	credit	that	are	
adopt	and	maintain	written	policies	establishing	appropriate	limits	and	standards	for	extensions	of	credit	that	are	
secured	by	liens	or	interests	in	real	estate	or	are	made	for	the	purpose	of	financing	permanent	improvements	to	real	
secured	by	liens	or	interests	in	real	estate	or	are	made	for	the	purpose	of	financing	permanent	improvements	to	real	
estate.		These	policies	must	establish	loan	portfolio	diversification	standards,	prudent	underwriting	standards	
estate.		These	policies	must	establish	loan	portfolio	diversification	standards,	prudent	underwriting	standards	
(including	loan-to-value	limits)	that	are	clear	and	measurable,	loan	administration	procedures,	and	documentation,	
(including	loan-to-value	limits)	that	are	clear	and	measurable,	loan	administration	procedures,	and	documentation,	
approval	and	reporting	requirements.		The	real	estate	lending	policies	must	reflect	consideration	of	the	federal	bank	
approval	and	reporting	requirements.		The	real	estate	lending	policies	must	reflect	consideration	of	the	federal	bank	
regulatory	agencies’	Interagency	Guidelines	for	Real	Estate	Lending	Policies.
regulatory	agencies’	Interagency	Guidelines	for	Real	Estate	Lending	Policies.

Heightened	Governance	and	Risk	Management	Standards
Heightened	Governance	and	Risk	Management	Standards

The	OCC	has	published	guidelines	to	set	expectations	for	the	governance	and	risk	management	practices	of	
The	OCC	has	published	guidelines	to	set	expectations	for	the	governance	and	risk	management	practices	of	
certain	large	financial	institutions,	including	the	Bank.		The	guidelines	require	covered	institutions	to	establish	and	
certain	large	financial	institutions,	including	the	Bank.		The	guidelines	require	covered	institutions	to	establish	and	
adhere	to	a	written	governance	framework	in	order	to	manage	and	control	their	risk-taking	activities.		In	addition,	
adhere	to	a	written	governance	framework	in	order	to	manage	and	control	their	risk-taking	activities.		In	addition,	
the	guidelines	provide	standards	for	the	institutions’	boards	of	directors	to	oversee	the	risk	governance	framework.		
the	guidelines	provide	standards	for	the	institutions’	boards	of	directors	to	oversee	the	risk	governance	framework.		
As	discussed	in	the	“Risk	Management	and	Capital”	section	of	the	MD&A,	the	Bank	currently	has	a	written	
As	discussed	in	the	“Risk	Management	and	Capital”	section	of	the	MD&A,	the	Bank	currently	has	a	written	
governance	framework	and	associated	controls.
governance	framework	and	associated	controls.

Anti-Money	Laundering
Anti-Money	Laundering

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	
The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	
intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	
activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	
activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	
companies	to	undertake	activities	including	maintaining	an	AML	program,	verifying	the	identity	of	customers,	
companies	to	undertake	activities	including	maintaining	an	AML	program,	verifying	the	identity	of	customers,	
verifying	the	identity	of	certain	beneficial	owners	for	legal	entity	customers,	monitoring	for	and	reporting	suspicious	
verifying	the	identity	of	certain	beneficial	owners	for	legal	entity	customers,	monitoring	for	and	reporting	suspicious	
transactions,	reporting	on	cash	transactions	exceeding	specified	thresholds,	and	responding	to	requests	for	
transactions,	reporting	on	cash	transactions	exceeding	specified	thresholds,	and	responding	to	requests	for	
information	by	regulatory	authorities	and	law	enforcement	agencies.		The	Bank	is	subject	to	the	Bank	Secrecy	Act	
information	by	regulatory	authorities	and	law	enforcement	agencies.		The	Bank	is	subject	to	the	Bank	Secrecy	Act	
and,	therefore,	is	required	to	provide	its	employees	with	AML	training,	designate	an	AML	compliance	officer,	and	
and,	therefore,	is	required	to	provide	its	employees	with	AML	training,	designate	an	AML	compliance	officer,	and	
undergo	an	annual,	independent	audit	to	assess	the	effectiveness	of	its	AML	program.		The	Bank	has	implemented	
undergo	an	annual,	independent	audit	to	assess	the	effectiveness	of	its	AML	program.		The	Bank	has	implemented	
policies,	procedures,	and	internal	controls	that	are	designed	to	comply	with	these	AML	requirements.		Bank	
policies,	procedures,	and	internal	controls	that	are	designed	to	comply	with	these	AML	requirements.		Bank	
regulators	are	focusing	their	examinations	on	AML	compliance,	and	we	will	continue	to	monitor	and	augment,	
regulators	are	focusing	their	examinations	on	AML	compliance,	and	we	will	continue	to	monitor	and	augment,	
where	necessary,	our	AML	compliance	programs.		The	federal	banking	agencies	are	required,	when	reviewing	bank	
where	necessary,	our	AML	compliance	programs.		The	federal	banking	agencies	are	required,	when	reviewing	bank	
and	BHC	acquisition	or	merger	applications,	to	take	into	account	the	effectiveness	of	the	AML	activities	of	the	
and	BHC	acquisition	or	merger	applications,	to	take	into	account	the	effectiveness	of	the	AML	activities	of	the	
applicant.
applicant.

The	Anti-Money	Laundering	Act	of	2020,	enacted	on	January	1,	2021	as	part	of	the	National	Defense	
The	Anti-Money	Laundering	Act	of	2020,	enacted	on	January	1,	2021	as	part	of	the	National	Defense	

Authorization	Act,	does	not	directly	impose	new	requirements	on	banks,	but	requires	the	U.S.	Treasury	Department	
Authorization	Act,	does	not	directly	impose	new	requirements	on	banks,	but	requires	the	U.S.	Treasury	Department	
to	issue	National	Anti-Money	Laundering	and	Countering	the	Financing	of	Terrorism	Priorities,	and	conduct	studies	
to	issue	National	Anti-Money	Laundering	and	Countering	the	Financing	of	Terrorism	Priorities,	and	conduct	studies	
and	issue	regulations	that	may,	over	the	next	few	years,	significantly	alter	some	of	the	due	diligence,	recordkeeping	
and	issue	regulations	that	may,	over	the	next	few	years,	significantly	alter	some	of	the	due	diligence,	recordkeeping	
and	reporting	requirements	that	the	Bank	Secrecy	Act	and	USA	PATRIOT	Act	impose	on	banks.		The	Anti-Money	
and	reporting	requirements	that	the	Bank	Secrecy	Act	and	USA	PATRIOT	Act	impose	on	banks.		The	Anti-Money	
Laundering	Act	of	2020	also	contains	provisions	that	promote	increased	information-sharing	and	use	of	technology,	
Laundering	Act	of	2020	also	contains	provisions	that	promote	increased	information-sharing	and	use	of	technology,	
and	increases	penalties	for	violations	of	the	Bank	Secrecy	Act	and	includes	whistleblower	incentives,	both	of	which	
and	increases	penalties	for	violations	of	the	Bank	Secrecy	Act	and	includes	whistleblower	incentives,	both	of	which	
could	increase	the	prospect	of	regulatory	enforcement.		
could	increase	the	prospect	of	regulatory	enforcement.		

OFAC	Regulation

OFAC	Regulation

OFAC	is	responsible	for	administering	economic	sanctions	that	affect	transactions	with	designated	foreign	

OFAC	is	responsible	for	administering	economic	sanctions	that	affect	transactions	with	designated	foreign	

countries,	nationals,	and	others,	as	defined	by	various	Executive	Orders	and	in	various	legislation.		OFAC-

countries,	nationals,	and	others,	as	defined	by	various	Executive	Orders	and	in	various	legislation.		OFAC-

administered	sanctions	take	many	different	forms.		For	example,	sanctions	may	include:	(1)	restrictions	on	trade	

administered	sanctions	take	many	different	forms.		For	example,	sanctions	may	include:	(1)	restrictions	on	trade	

with	or	investment	in	a	sanctioned	country,	including	prohibitions	against	direct	or	indirect	imports	from	and	

with	or	investment	in	a	sanctioned	country,	including	prohibitions	against	direct	or	indirect	imports	from	and	

exports	to	a	sanctioned	country	and	prohibitions	on	U.S.	persons	engaging	in	financial	transactions	relating	to,	

exports	to	a	sanctioned	country	and	prohibitions	on	U.S.	persons	engaging	in	financial	transactions	relating	to,	

making	investments	in,	or	providing	investment-related	advice	or	assistance	to,	a	sanctioned	country;	and	(2)	a	

making	investments	in,	or	providing	investment-related	advice	or	assistance	to,	a	sanctioned	country;	and	(2)	a	

blocking	of	assets	in	which	the	government	or	“specially	designated	nationals”	of	the	sanctioned	country	have	an	

blocking	of	assets	in	which	the	government	or	“specially	designated	nationals”	of	the	sanctioned	country	have	an	

interest,	by	prohibiting	transfers	of	property	subject	to	U.S.	jurisdiction,	including	property	in	the	possession	or	

interest,	by	prohibiting	transfers	of	property	subject	to	U.S.	jurisdiction,	including	property	in	the	possession	or	

control	of	U.S.	persons.		OFAC	also	publishes	lists	of	persons,	organizations,	and	countries	suspected	of	aiding,	

control	of	U.S.	persons.		OFAC	also	publishes	lists	of	persons,	organizations,	and	countries	suspected	of	aiding,	

harboring,	or	engaging	in	terrorist	acts,	known	as	Specially	Designated	Nationals	and	Blocked	Persons.		Blocked	

harboring,	or	engaging	in	terrorist	acts,	known	as	Specially	Designated	Nationals	and	Blocked	Persons.		Blocked	

assets,	for	example	property	and	bank	deposits,	cannot	be	paid	out,	withdrawn,	set	off,	or	transferred	in	any	

assets,	for	example	property	and	bank	deposits,	cannot	be	paid	out,	withdrawn,	set	off,	or	transferred	in	any	

manner	without	a	license	from	OFAC.		Failure	to	comply	with	these	sanctions	could	have	serious	legal	and	

manner	without	a	license	from	OFAC.		Failure	to	comply	with	these	sanctions	could	have	serious	legal	and	

reputational	consequences.

reputational	consequences.

Data	Privacy

Data	Privacy

Federal	and	state	law	contains	extensive	consumer	privacy	protection	provisions.		The	GLBA	requires	financial	

Federal	and	state	law	contains	extensive	consumer	privacy	protection	provisions.		The	GLBA	requires	financial	

institutions	to	periodically	disclose	their	privacy	policies	and	practices	relating	to	sharing	such	information	and	

institutions	to	periodically	disclose	their	privacy	policies	and	practices	relating	to	sharing	such	information	and	

enables	retail	customers	to	opt	out	of	our	ability	to	share	information	with	unaffiliated	third	parties	under	certain	

enables	retail	customers	to	opt	out	of	our	ability	to	share	information	with	unaffiliated	third	parties	under	certain	

circumstances.		Other	federal	and	state	laws	and	regulations	impact	our	ability	to	share	certain	information	with	

circumstances.		Other	federal	and	state	laws	and	regulations	impact	our	ability	to	share	certain	information	with	

affiliates	and	non-affiliates	for	marketing	and/or	non-marketing	purposes,	or	to	contact	customers	with	marketing	

affiliates	and	non-affiliates	for	marketing	and/or	non-marketing	purposes,	or	to	contact	customers	with	marketing	

offers.		These	security	and	privacy	policies	and	procedures	for	the	protection	of	personal	and	confidential	

offers.		These	security	and	privacy	policies	and	procedures	for	the	protection	of	personal	and	confidential	

information	are	in	effect	across	all	businesses	and	geographic	locations	as	applicable.		Federal	law	also	makes	it	a	

information	are	in	effect	across	all	businesses	and	geographic	locations	as	applicable.		Federal	law	also	makes	it	a	

criminal	offense,	except	in	limited	circumstances,	to	obtain	or	attempt	to	obtain	customer	information	of	a	financial	

criminal	offense,	except	in	limited	circumstances,	to	obtain	or	attempt	to	obtain	customer	information	of	a	financial	

nature	by	fraudulent	or	deceptive	means.

nature	by	fraudulent	or	deceptive	means.

Data	privacy	and	data	protection	are	areas	of	increasing	state	legislative	focus.		For	example,	in	June	of	2018,	the	

Data	privacy	and	data	protection	are	areas	of	increasing	state	legislative	focus.		For	example,	in	June	of	2018,	the	

Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	became	effective	on	January	1,	2020,	applies	to	

Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	became	effective	on	January	1,	2020,	applies	to	

for-profit	businesses	that	conduct	business	in	California	and	meet	certain	revenue	or	data	collection	thresholds.		The	

for-profit	businesses	that	conduct	business	in	California	and	meet	certain	revenue	or	data	collection	thresholds.		The	

CCPA	gives	consumers	the	right	to	request	disclosure	of	information	collected	about	them,	and	whether	that	

CCPA	gives	consumers	the	right	to	request	disclosure	of	information	collected	about	them,	and	whether	that	

information	has	been	sold	or	shared	with	others,	the	right	to	request	deletion	of	personal	information	(subject	to	

information	has	been	sold	or	shared	with	others,	the	right	to	request	deletion	of	personal	information	(subject	to	

certain	exceptions),	the	right	to	opt	out	of	the	sale	of	the	consumer’s	personal	information,	and	the	right	not	to	be	

certain	exceptions),	the	right	to	opt	out	of	the	sale	of	the	consumer’s	personal	information,	and	the	right	not	to	be	

discriminated	against	for	exercising	these	rights.		The	CCPA	contains	several	exemptions,	including	that	many,	but	

discriminated	against	for	exercising	these	rights.		The	CCPA	contains	several	exemptions,	including	that	many,	but	

not	all,	requirements	of	the	CCPA	are	inapplicable	to	information	that	is	collected,	processed,	sold,	or	disclosed	

not	all,	requirements	of	the	CCPA	are	inapplicable	to	information	that	is	collected,	processed,	sold,	or	disclosed	

pursuant	to	the	GLBA.		California	voters	also	recently	passed	the	California	Privacy	Rights	Act,	which	will	take	effect	

pursuant	to	the	GLBA.		California	voters	also	recently	passed	the	California	Privacy	Rights	Act,	which	will	take	effect	

on	January	1,	2023,	and	significantly	modifies	the	CCPA,	including	imposing	additional	obligations	on	covered	

on	January	1,	2023,	and	significantly	modifies	the	CCPA,	including	imposing	additional	obligations	on	covered	

companies	and	expanding	California	consumers’	rights	with	respect	to	certain	sensitive	personal	information,	

companies	and	expanding	California	consumers’	rights	with	respect	to	certain	sensitive	personal	information,	

potentially	resulting	in	further	uncertainty	and	requiring	us	to	incur	additional	costs	and	expenses	in	an	effort	to	

potentially	resulting	in	further	uncertainty	and	requiring	us	to	incur	additional	costs	and	expenses	in	an	effort	to	

comply.		In	California,	the	CCPA	may	be	interpreted	or	applied	in	a	manner	inconsistent	with	our	understanding	or	

comply.		In	California,	the	CCPA	may	be	interpreted	or	applied	in	a	manner	inconsistent	with	our	understanding	or	

similar	laws	may	be	adopted	by	other	states	where	we	operate.	The	federal	government	may	also	pass	data	privacy	

similar	laws	may	be	adopted	by	other	states	where	we	operate.	The	federal	government	may	also	pass	data	privacy	

or	data	protection	legislation.

or	data	protection	legislation.

Like	other	lenders,	the	Bank	and	other	of	our	subsidiaries	use	credit	bureau	data	in	their	underwriting	activities.		

Like	other	lenders,	the	Bank	and	other	of	our	subsidiaries	use	credit	bureau	data	in	their	underwriting	activities.		

Use	of	such	data	is	regulated	under	the	FCRA,	and	the	FCRA	also	regulates	reporting	information	to	credit	bureaus,	

Use	of	such	data	is	regulated	under	the	FCRA,	and	the	FCRA	also	regulates	reporting	information	to	credit	bureaus,	

prescreening	individuals	for	credit	offers,	sharing	of	information	between	affiliates,	and	using	affiliate	data	for	

prescreening	individuals	for	credit	offers,	sharing	of	information	between	affiliates,	and	using	affiliate	data	for	

marketing	purposes.		Similar	state	laws	may	impose	additional	requirements	on	us	and	our	subsidiaries.

marketing	purposes.		Similar	state	laws	may	impose	additional	requirements	on	us	and	our	subsidiaries.

FDIC	Insurance	

FDIC	Insurance	

The	DIF	provides	insurance	coverage	for	certain	deposits,	up	to	a	standard	maximum	deposit	insurance	amount	

The	DIF	provides	insurance	coverage	for	certain	deposits,	up	to	a	standard	maximum	deposit	insurance	amount	

of	$250,000	per	depositor	and	is	funded	through	assessments	on	insured	depository	institutions,	based	on	the	risk	

of	$250,000	per	depositor	and	is	funded	through	assessments	on	insured	depository	institutions,	based	on	the	risk	

each	institution	poses	to	the	DIF.		The	Bank	accepts	customer	deposits	that	are	insured	by	the	DIF	and,	therefore,	

each	institution	poses	to	the	DIF.		The	Bank	accepts	customer	deposits	that	are	insured	by	the	DIF	and,	therefore,	

must	pay	insurance	premiums.		The	FDIC	may	increase	the	Bank’s	insurance	premiums	based	on	various	factors,	

must	pay	insurance	premiums.		The	FDIC	may	increase	the	Bank’s	insurance	premiums	based	on	various	factors,	

including	the	FDIC’s	assessment	of	its	risk	profile.	

including	the	FDIC’s	assessment	of	its	risk	profile.	

20					Huntington	Bancshares	Incorporated
20					Huntington	Bancshares	Incorporated

2020	Form	10-K					21

2020	Form	10-K					21

arm’s-length	terms	and	cannot	exceed	certain	amounts	which	are	determined	with	reference	to	the	Bank’s	

arm’s-length	terms	and	cannot	exceed	certain	amounts	which	are	determined	with	reference	to	the	Bank’s	

OFAC	Regulation
OFAC	Regulation

OFAC	is	responsible	for	administering	economic	sanctions	that	affect	transactions	with	designated	foreign	
OFAC	is	responsible	for	administering	economic	sanctions	that	affect	transactions	with	designated	foreign	

countries,	nationals,	and	others,	as	defined	by	various	Executive	Orders	and	in	various	legislation.		OFAC-
countries,	nationals,	and	others,	as	defined	by	various	Executive	Orders	and	in	various	legislation.		OFAC-
administered	sanctions	take	many	different	forms.		For	example,	sanctions	may	include:	(1)	restrictions	on	trade	
administered	sanctions	take	many	different	forms.		For	example,	sanctions	may	include:	(1)	restrictions	on	trade	
with	or	investment	in	a	sanctioned	country,	including	prohibitions	against	direct	or	indirect	imports	from	and	
with	or	investment	in	a	sanctioned	country,	including	prohibitions	against	direct	or	indirect	imports	from	and	
exports	to	a	sanctioned	country	and	prohibitions	on	U.S.	persons	engaging	in	financial	transactions	relating	to,	
exports	to	a	sanctioned	country	and	prohibitions	on	U.S.	persons	engaging	in	financial	transactions	relating	to,	
making	investments	in,	or	providing	investment-related	advice	or	assistance	to,	a	sanctioned	country;	and	(2)	a	
making	investments	in,	or	providing	investment-related	advice	or	assistance	to,	a	sanctioned	country;	and	(2)	a	
blocking	of	assets	in	which	the	government	or	“specially	designated	nationals”	of	the	sanctioned	country	have	an	
blocking	of	assets	in	which	the	government	or	“specially	designated	nationals”	of	the	sanctioned	country	have	an	
interest,	by	prohibiting	transfers	of	property	subject	to	U.S.	jurisdiction,	including	property	in	the	possession	or	
interest,	by	prohibiting	transfers	of	property	subject	to	U.S.	jurisdiction,	including	property	in	the	possession	or	
control	of	U.S.	persons.		OFAC	also	publishes	lists	of	persons,	organizations,	and	countries	suspected	of	aiding,	
control	of	U.S.	persons.		OFAC	also	publishes	lists	of	persons,	organizations,	and	countries	suspected	of	aiding,	
harboring,	or	engaging	in	terrorist	acts,	known	as	Specially	Designated	Nationals	and	Blocked	Persons.		Blocked	
harboring,	or	engaging	in	terrorist	acts,	known	as	Specially	Designated	Nationals	and	Blocked	Persons.		Blocked	
assets,	for	example	property	and	bank	deposits,	cannot	be	paid	out,	withdrawn,	set	off,	or	transferred	in	any	
assets,	for	example	property	and	bank	deposits,	cannot	be	paid	out,	withdrawn,	set	off,	or	transferred	in	any	
manner	without	a	license	from	OFAC.		Failure	to	comply	with	these	sanctions	could	have	serious	legal	and	
manner	without	a	license	from	OFAC.		Failure	to	comply	with	these	sanctions	could	have	serious	legal	and	
reputational	consequences.
reputational	consequences.

estate.		These	policies	must	establish	loan	portfolio	diversification	standards,	prudent	underwriting	standards	

estate.		These	policies	must	establish	loan	portfolio	diversification	standards,	prudent	underwriting	standards	

Data	Privacy
Data	Privacy

Federal	and	state	law	contains	extensive	consumer	privacy	protection	provisions.		The	GLBA	requires	financial	
Federal	and	state	law	contains	extensive	consumer	privacy	protection	provisions.		The	GLBA	requires	financial	

institutions	to	periodically	disclose	their	privacy	policies	and	practices	relating	to	sharing	such	information	and	
institutions	to	periodically	disclose	their	privacy	policies	and	practices	relating	to	sharing	such	information	and	
enables	retail	customers	to	opt	out	of	our	ability	to	share	information	with	unaffiliated	third	parties	under	certain	
enables	retail	customers	to	opt	out	of	our	ability	to	share	information	with	unaffiliated	third	parties	under	certain	
circumstances.		Other	federal	and	state	laws	and	regulations	impact	our	ability	to	share	certain	information	with	
circumstances.		Other	federal	and	state	laws	and	regulations	impact	our	ability	to	share	certain	information	with	
affiliates	and	non-affiliates	for	marketing	and/or	non-marketing	purposes,	or	to	contact	customers	with	marketing	
affiliates	and	non-affiliates	for	marketing	and/or	non-marketing	purposes,	or	to	contact	customers	with	marketing	
offers.		These	security	and	privacy	policies	and	procedures	for	the	protection	of	personal	and	confidential	
offers.		These	security	and	privacy	policies	and	procedures	for	the	protection	of	personal	and	confidential	
information	are	in	effect	across	all	businesses	and	geographic	locations	as	applicable.		Federal	law	also	makes	it	a	
information	are	in	effect	across	all	businesses	and	geographic	locations	as	applicable.		Federal	law	also	makes	it	a	
criminal	offense,	except	in	limited	circumstances,	to	obtain	or	attempt	to	obtain	customer	information	of	a	financial	
criminal	offense,	except	in	limited	circumstances,	to	obtain	or	attempt	to	obtain	customer	information	of	a	financial	
nature	by	fraudulent	or	deceptive	means.
nature	by	fraudulent	or	deceptive	means.

Data	privacy	and	data	protection	are	areas	of	increasing	state	legislative	focus.		For	example,	in	June	of	2018,	the	
Data	privacy	and	data	protection	are	areas	of	increasing	state	legislative	focus.		For	example,	in	June	of	2018,	the	

Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	became	effective	on	January	1,	2020,	applies	to	
Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	became	effective	on	January	1,	2020,	applies	to	
for-profit	businesses	that	conduct	business	in	California	and	meet	certain	revenue	or	data	collection	thresholds.		The	
for-profit	businesses	that	conduct	business	in	California	and	meet	certain	revenue	or	data	collection	thresholds.		The	
CCPA	gives	consumers	the	right	to	request	disclosure	of	information	collected	about	them,	and	whether	that	
CCPA	gives	consumers	the	right	to	request	disclosure	of	information	collected	about	them,	and	whether	that	
information	has	been	sold	or	shared	with	others,	the	right	to	request	deletion	of	personal	information	(subject	to	
information	has	been	sold	or	shared	with	others,	the	right	to	request	deletion	of	personal	information	(subject	to	
certain	exceptions),	the	right	to	opt	out	of	the	sale	of	the	consumer’s	personal	information,	and	the	right	not	to	be	
certain	exceptions),	the	right	to	opt	out	of	the	sale	of	the	consumer’s	personal	information,	and	the	right	not	to	be	
discriminated	against	for	exercising	these	rights.		The	CCPA	contains	several	exemptions,	including	that	many,	but	
discriminated	against	for	exercising	these	rights.		The	CCPA	contains	several	exemptions,	including	that	many,	but	
not	all,	requirements	of	the	CCPA	are	inapplicable	to	information	that	is	collected,	processed,	sold,	or	disclosed	
not	all,	requirements	of	the	CCPA	are	inapplicable	to	information	that	is	collected,	processed,	sold,	or	disclosed	
pursuant	to	the	GLBA.		California	voters	also	recently	passed	the	California	Privacy	Rights	Act,	which	will	take	effect	
pursuant	to	the	GLBA.		California	voters	also	recently	passed	the	California	Privacy	Rights	Act,	which	will	take	effect	
on	January	1,	2023,	and	significantly	modifies	the	CCPA,	including	imposing	additional	obligations	on	covered	
on	January	1,	2023,	and	significantly	modifies	the	CCPA,	including	imposing	additional	obligations	on	covered	
companies	and	expanding	California	consumers’	rights	with	respect	to	certain	sensitive	personal	information,	
companies	and	expanding	California	consumers’	rights	with	respect	to	certain	sensitive	personal	information,	
potentially	resulting	in	further	uncertainty	and	requiring	us	to	incur	additional	costs	and	expenses	in	an	effort	to	
potentially	resulting	in	further	uncertainty	and	requiring	us	to	incur	additional	costs	and	expenses	in	an	effort	to	
comply.		In	California,	the	CCPA	may	be	interpreted	or	applied	in	a	manner	inconsistent	with	our	understanding	or	
comply.		In	California,	the	CCPA	may	be	interpreted	or	applied	in	a	manner	inconsistent	with	our	understanding	or	
similar	laws	may	be	adopted	by	other	states	where	we	operate.	The	federal	government	may	also	pass	data	privacy	
similar	laws	may	be	adopted	by	other	states	where	we	operate.	The	federal	government	may	also	pass	data	privacy	
or	data	protection	legislation.
or	data	protection	legislation.

Like	other	lenders,	the	Bank	and	other	of	our	subsidiaries	use	credit	bureau	data	in	their	underwriting	activities.		
Like	other	lenders,	the	Bank	and	other	of	our	subsidiaries	use	credit	bureau	data	in	their	underwriting	activities.		

Use	of	such	data	is	regulated	under	the	FCRA,	and	the	FCRA	also	regulates	reporting	information	to	credit	bureaus,	
Use	of	such	data	is	regulated	under	the	FCRA,	and	the	FCRA	also	regulates	reporting	information	to	credit	bureaus,	
prescreening	individuals	for	credit	offers,	sharing	of	information	between	affiliates,	and	using	affiliate	data	for	
prescreening	individuals	for	credit	offers,	sharing	of	information	between	affiliates,	and	using	affiliate	data	for	
marketing	purposes.		Similar	state	laws	may	impose	additional	requirements	on	us	and	our	subsidiaries.
marketing	purposes.		Similar	state	laws	may	impose	additional	requirements	on	us	and	our	subsidiaries.

FDIC	Insurance	
FDIC	Insurance	

The	DIF	provides	insurance	coverage	for	certain	deposits,	up	to	a	standard	maximum	deposit	insurance	amount	
The	DIF	provides	insurance	coverage	for	certain	deposits,	up	to	a	standard	maximum	deposit	insurance	amount	
of	$250,000	per	depositor	and	is	funded	through	assessments	on	insured	depository	institutions,	based	on	the	risk	
of	$250,000	per	depositor	and	is	funded	through	assessments	on	insured	depository	institutions,	based	on	the	risk	
each	institution	poses	to	the	DIF.		The	Bank	accepts	customer	deposits	that	are	insured	by	the	DIF	and,	therefore,	
each	institution	poses	to	the	DIF.		The	Bank	accepts	customer	deposits	that	are	insured	by	the	DIF	and,	therefore,	
must	pay	insurance	premiums.		The	FDIC	may	increase	the	Bank’s	insurance	premiums	based	on	various	factors,	
must	pay	insurance	premiums.		The	FDIC	may	increase	the	Bank’s	insurance	premiums	based	on	various	factors,	
including	the	FDIC’s	assessment	of	its	risk	profile.	
including	the	FDIC’s	assessment	of	its	risk	profile.	

regulatory	capital.		Moreover,	if	the	transaction	is	a	loan	or	other	extension	of	credit,	it	must	be	secured	by	collateral	

regulatory	capital.		Moreover,	if	the	transaction	is	a	loan	or	other	extension	of	credit,	it	must	be	secured	by	collateral	

in	an	amount	and	quality	expressly	prescribed	by	statute,	and	if	the	affiliate	is	unable	to	pledge	sufficient	collateral,	

in	an	amount	and	quality	expressly	prescribed	by	statute,	and	if	the	affiliate	is	unable	to	pledge	sufficient	collateral,	

the	BHC	may	be	required	to	provide	it.		The	Dodd-Frank	Act	expanded	the	coverage	and	scope	of	these	regulations,	

the	BHC	may	be	required	to	provide	it.		The	Dodd-Frank	Act	expanded	the	coverage	and	scope	of	these	regulations,	

including	by	applying	them	to	the	credit	exposure	arising	under	derivative	transactions,	repurchase	and	reverse	

including	by	applying	them	to	the	credit	exposure	arising	under	derivative	transactions,	repurchase	and	reverse	

repurchase	agreements,	and	securities	borrowing	and	lending	transactions.		Federal	banking	laws	also	place	similar	

repurchase	agreements,	and	securities	borrowing	and	lending	transactions.		Federal	banking	laws	also	place	similar	

restrictions	on	loans	and	other	extensions	of	credit	by	FDIC-insured	banks,	such	as	the	Bank,	and	their	subsidiaries	to	

restrictions	on	loans	and	other	extensions	of	credit	by	FDIC-insured	banks,	such	as	the	Bank,	and	their	subsidiaries	to	

their	directors,	executive	officers,	and	principal	shareholders.

their	directors,	executive	officers,	and	principal	shareholders.

Lending	Standards	and	Guidance

Lending	Standards	and	Guidance

The	federal	bank	regulatory	agencies	have	adopted	uniform	regulations	prescribing	standards	for	extensions	of	

The	federal	bank	regulatory	agencies	have	adopted	uniform	regulations	prescribing	standards	for	extensions	of	

credit	that	are	secured	by	liens	or	interests	in	real	estate	or	made	for	the	purpose	of	financing	permanent	

credit	that	are	secured	by	liens	or	interests	in	real	estate	or	made	for	the	purpose	of	financing	permanent	

improvements	to	real	estate.		Under	these	regulations,	all	insured	depository	institutions,	such	as	the	Bank,	must	

improvements	to	real	estate.		Under	these	regulations,	all	insured	depository	institutions,	such	as	the	Bank,	must	

adopt	and	maintain	written	policies	establishing	appropriate	limits	and	standards	for	extensions	of	credit	that	are	

adopt	and	maintain	written	policies	establishing	appropriate	limits	and	standards	for	extensions	of	credit	that	are	

secured	by	liens	or	interests	in	real	estate	or	are	made	for	the	purpose	of	financing	permanent	improvements	to	real	

secured	by	liens	or	interests	in	real	estate	or	are	made	for	the	purpose	of	financing	permanent	improvements	to	real	

(including	loan-to-value	limits)	that	are	clear	and	measurable,	loan	administration	procedures,	and	documentation,	

(including	loan-to-value	limits)	that	are	clear	and	measurable,	loan	administration	procedures,	and	documentation,	

approval	and	reporting	requirements.		The	real	estate	lending	policies	must	reflect	consideration	of	the	federal	bank	

approval	and	reporting	requirements.		The	real	estate	lending	policies	must	reflect	consideration	of	the	federal	bank	

regulatory	agencies’	Interagency	Guidelines	for	Real	Estate	Lending	Policies.

regulatory	agencies’	Interagency	Guidelines	for	Real	Estate	Lending	Policies.

Heightened	Governance	and	Risk	Management	Standards

Heightened	Governance	and	Risk	Management	Standards

The	OCC	has	published	guidelines	to	set	expectations	for	the	governance	and	risk	management	practices	of	

The	OCC	has	published	guidelines	to	set	expectations	for	the	governance	and	risk	management	practices	of	

certain	large	financial	institutions,	including	the	Bank.		The	guidelines	require	covered	institutions	to	establish	and	

certain	large	financial	institutions,	including	the	Bank.		The	guidelines	require	covered	institutions	to	establish	and	

adhere	to	a	written	governance	framework	in	order	to	manage	and	control	their	risk-taking	activities.		In	addition,	

adhere	to	a	written	governance	framework	in	order	to	manage	and	control	their	risk-taking	activities.		In	addition,	

the	guidelines	provide	standards	for	the	institutions’	boards	of	directors	to	oversee	the	risk	governance	framework.		

the	guidelines	provide	standards	for	the	institutions’	boards	of	directors	to	oversee	the	risk	governance	framework.		

As	discussed	in	the	“Risk	Management	and	Capital”	section	of	the	MD&A,	the	Bank	currently	has	a	written	

As	discussed	in	the	“Risk	Management	and	Capital”	section	of	the	MD&A,	the	Bank	currently	has	a	written	

governance	framework	and	associated	controls.

governance	framework	and	associated	controls.

Anti-Money	Laundering

Anti-Money	Laundering

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	

activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	

activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	

companies	to	undertake	activities	including	maintaining	an	AML	program,	verifying	the	identity	of	customers,	

companies	to	undertake	activities	including	maintaining	an	AML	program,	verifying	the	identity	of	customers,	

verifying	the	identity	of	certain	beneficial	owners	for	legal	entity	customers,	monitoring	for	and	reporting	suspicious	

verifying	the	identity	of	certain	beneficial	owners	for	legal	entity	customers,	monitoring	for	and	reporting	suspicious	

transactions,	reporting	on	cash	transactions	exceeding	specified	thresholds,	and	responding	to	requests	for	

transactions,	reporting	on	cash	transactions	exceeding	specified	thresholds,	and	responding	to	requests	for	

information	by	regulatory	authorities	and	law	enforcement	agencies.		The	Bank	is	subject	to	the	Bank	Secrecy	Act	

information	by	regulatory	authorities	and	law	enforcement	agencies.		The	Bank	is	subject	to	the	Bank	Secrecy	Act	

and,	therefore,	is	required	to	provide	its	employees	with	AML	training,	designate	an	AML	compliance	officer,	and	

and,	therefore,	is	required	to	provide	its	employees	with	AML	training,	designate	an	AML	compliance	officer,	and	

undergo	an	annual,	independent	audit	to	assess	the	effectiveness	of	its	AML	program.		The	Bank	has	implemented	

undergo	an	annual,	independent	audit	to	assess	the	effectiveness	of	its	AML	program.		The	Bank	has	implemented	

policies,	procedures,	and	internal	controls	that	are	designed	to	comply	with	these	AML	requirements.		Bank	

policies,	procedures,	and	internal	controls	that	are	designed	to	comply	with	these	AML	requirements.		Bank	

regulators	are	focusing	their	examinations	on	AML	compliance,	and	we	will	continue	to	monitor	and	augment,	

regulators	are	focusing	their	examinations	on	AML	compliance,	and	we	will	continue	to	monitor	and	augment,	

where	necessary,	our	AML	compliance	programs.		The	federal	banking	agencies	are	required,	when	reviewing	bank	

where	necessary,	our	AML	compliance	programs.		The	federal	banking	agencies	are	required,	when	reviewing	bank	

and	BHC	acquisition	or	merger	applications,	to	take	into	account	the	effectiveness	of	the	AML	activities	of	the	

and	BHC	acquisition	or	merger	applications,	to	take	into	account	the	effectiveness	of	the	AML	activities	of	the	

applicant.

applicant.

The	Anti-Money	Laundering	Act	of	2020,	enacted	on	January	1,	2021	as	part	of	the	National	Defense	

The	Anti-Money	Laundering	Act	of	2020,	enacted	on	January	1,	2021	as	part	of	the	National	Defense	

Authorization	Act,	does	not	directly	impose	new	requirements	on	banks,	but	requires	the	U.S.	Treasury	Department	

Authorization	Act,	does	not	directly	impose	new	requirements	on	banks,	but	requires	the	U.S.	Treasury	Department	

to	issue	National	Anti-Money	Laundering	and	Countering	the	Financing	of	Terrorism	Priorities,	and	conduct	studies	

to	issue	National	Anti-Money	Laundering	and	Countering	the	Financing	of	Terrorism	Priorities,	and	conduct	studies	

and	issue	regulations	that	may,	over	the	next	few	years,	significantly	alter	some	of	the	due	diligence,	recordkeeping	

and	issue	regulations	that	may,	over	the	next	few	years,	significantly	alter	some	of	the	due	diligence,	recordkeeping	

and	reporting	requirements	that	the	Bank	Secrecy	Act	and	USA	PATRIOT	Act	impose	on	banks.		The	Anti-Money	

and	reporting	requirements	that	the	Bank	Secrecy	Act	and	USA	PATRIOT	Act	impose	on	banks.		The	Anti-Money	

Laundering	Act	of	2020	also	contains	provisions	that	promote	increased	information-sharing	and	use	of	technology,	

Laundering	Act	of	2020	also	contains	provisions	that	promote	increased	information-sharing	and	use	of	technology,	

and	increases	penalties	for	violations	of	the	Bank	Secrecy	Act	and	includes	whistleblower	incentives,	both	of	which	

and	increases	penalties	for	violations	of	the	Bank	Secrecy	Act	and	includes	whistleblower	incentives,	both	of	which	

could	increase	the	prospect	of	regulatory	enforcement.		

could	increase	the	prospect	of	regulatory	enforcement.		

20					Huntington	Bancshares	Incorporated

20					Huntington	Bancshares	Incorporated

2020	Form	10-K					21
2020	Form	10-K					21

The	FDIC	issued	a	rule	that	requires	large	insured	depository	institutions,	including	the	Bank,	to	enhance	their	
The	FDIC	issued	a	rule	that	requires	large	insured	depository	institutions,	including	the	Bank,	to	enhance	their	
deposit	account	recordkeeping	and	related	information	technology	system	capabilities	to	facilitate	prompt	payment	
deposit	account	recordkeeping	and	related	information	technology	system	capabilities	to	facilitate	prompt	payment	
of	insured	deposits	if	such	an	institution	were	to	fail.		The	FDIC	has	established	an	initial	compliance	date	of	April	1,	
of	insured	deposits	if	such	an	institution	were	to	fail.		The	FDIC	has	established	an	initial	compliance	date	of	April	1,	
2020,	and	allows	each	large	insured	depository	institution	to	file	for	an	optional	extension	of	the	compliance	date	for	
2020,	and	allows	each	large	insured	depository	institution	to	file	for	an	optional	extension	of	the	compliance	date	for	
up	to	one	year,	to	a	date	no	later	than	April	1,	2021.		Huntington	filed	for	the	optional	extension	and	certified	its	
up	to	one	year,	to	a	date	no	later	than	April	1,	2021.		Huntington	filed	for	the	optional	extension	and	certified	its	
compliance	to	the	FDIC,	as	required	by	the	rule,	during	fourth	quarter	2020.		
compliance	to	the	FDIC,	as	required	by	the	rule,	during	fourth	quarter	2020.		

As	of	June	30,	2020,	the	DIF	reserve	ratio	fell	to	1.30%.		The	FDIC,	as	required	under	the	Federal	Deposit	
As	of	June	30,	2020,	the	DIF	reserve	ratio	fell	to	1.30%.		The	FDIC,	as	required	under	the	Federal	Deposit	

Insurance	Act,	established	a	plan	on	September	15,	2020,	to	restore	the	DIF	reserve	ratio	to	meet	or	exceed	1.35%	
Insurance	Act,	established	a	plan	on	September	15,	2020,	to	restore	the	DIF	reserve	ratio	to	meet	or	exceed	1.35%	
within	eight	years.		The	FDIC’s	restoration	plan	projects	the	reserve	ratio	to	exceed	1.35%	without	increasing	the	
within	eight	years.		The	FDIC’s	restoration	plan	projects	the	reserve	ratio	to	exceed	1.35%	without	increasing	the	
deposit	insurance	assessment	rate,	subject	to	ongoing	monitoring	over	the	next	eight	years.		The	FDIC	could	increase	
deposit	insurance	assessment	rate,	subject	to	ongoing	monitoring	over	the	next	eight	years.		The	FDIC	could	increase	
the	deposit	insurance	assessments	for	certain	insured	depository	institutions,	including	the	Bank,	if	the	DIF	reserve	
the	deposit	insurance	assessments	for	certain	insured	depository	institutions,	including	the	Bank,	if	the	DIF	reserve	
ratio	is	not	restored	as	projected.	
ratio	is	not	restored	as	projected.	

Compensation	
Compensation	

Our	compensation	practices	are	subject	to	oversight	by	the	Federal	Reserve	and,	with	respect	to	some	of	our	
Our	compensation	practices	are	subject	to	oversight	by	the	Federal	Reserve	and,	with	respect	to	some	of	our	
subsidiaries	and	employees,	by	other	financial	regulatory	bodies.		The	scope	and	content	of	compensation	regulation	
subsidiaries	and	employees,	by	other	financial	regulatory	bodies.		The	scope	and	content	of	compensation	regulation	
in	the	financial	industry	are	continuing	to	develop,	and	we	expect	that	these	regulations	and	resulting	market	
in	the	financial	industry	are	continuing	to	develop,	and	we	expect	that	these	regulations	and	resulting	market	
practices	will	continue	to	evolve	over	a	number	of	years.		
practices	will	continue	to	evolve	over	a	number	of	years.		

The	federal	bank	regulatory	agencies	have	issued	joint	guidance	on	executive	compensation	designed	to	ensure	
The	federal	bank	regulatory	agencies	have	issued	joint	guidance	on	executive	compensation	designed	to	ensure	

evaluate	CRA	performance	and	imposes	more	comprehensive	CRA-related	data	collection	and	reporting	

evaluate	CRA	performance	and	imposes	more	comprehensive	CRA-related	data	collection	and	reporting	

that	the	incentive	compensation	policies	of	banking	organizations,	such	as	Huntington	and	the	Bank,	do	not	
that	the	incentive	compensation	policies	of	banking	organizations,	such	as	Huntington	and	the	Bank,	do	not	
encourage	imprudent	risk	taking	and	are	consistent	with	the	safety	and	soundness	of	the	organization.		In	addition,	
encourage	imprudent	risk	taking	and	are	consistent	with	the	safety	and	soundness	of	the	organization.		In	addition,	
the	Dodd-Frank	Act	requires	the	federal	bank	regulatory	agencies	and	the	SEC	to	issue	regulations	or	guidelines	
the	Dodd-Frank	Act	requires	the	federal	bank	regulatory	agencies	and	the	SEC	to	issue	regulations	or	guidelines	
requiring	covered	financial	institutions,	including	Huntington	and	the	Bank,	to	prohibit	incentive-based	payment	
requiring	covered	financial	institutions,	including	Huntington	and	the	Bank,	to	prohibit	incentive-based	payment	
arrangements	that	encourage	inappropriate	risks	by	providing	compensation	that	is	excessive	or	that	could	lead	to	
arrangements	that	encourage	inappropriate	risks	by	providing	compensation	that	is	excessive	or	that	could	lead	to	
material	financial	loss	to	the	institution.		A	proposed	rule	was	issued	in	2016.		Also	pursuant	to	the	Dodd-Frank	Act,	
material	financial	loss	to	the	institution.		A	proposed	rule	was	issued	in	2016.		Also	pursuant	to	the	Dodd-Frank	Act,	
in	2015,	the	SEC	proposed	rules	that	would	direct	stock	exchanges	to	require	listed	companies	to	implement	
in	2015,	the	SEC	proposed	rules	that	would	direct	stock	exchanges	to	require	listed	companies	to	implement	
clawback	policies	to	recover	incentive-based	compensation	from	current	or	former	executive	officers	in	the	event	of	
clawback	policies	to	recover	incentive-based	compensation	from	current	or	former	executive	officers	in	the	event	of	
certain	financial	restatements	and	would	also	require	companies	to	disclose	their	clawback	policies	and	their	actions	
certain	financial	restatements	and	would	also	require	companies	to	disclose	their	clawback	policies	and	their	actions	
under	those	policies.		Huntington	continues	to	evaluate	the	proposed	rules,	both	of	which	are	subject	to	further	
under	those	policies.		Huntington	continues	to	evaluate	the	proposed	rules,	both	of	which	are	subject	to	further	
rulemaking	procedures.
rulemaking	procedures.

Cybersecurity
Cybersecurity

The	GLBA	requires	financial	institutions	to	implement	a	comprehensive	information	security	program	that	
The	GLBA	requires	financial	institutions	to	implement	a	comprehensive	information	security	program	that	
includes	administrative,	technical,	and	physical	safeguards	to	ensure	the	security	and	confidentiality	of	customer	
includes	administrative,	technical,	and	physical	safeguards	to	ensure	the	security	and	confidentiality	of	customer	
records	and	information.		
records	and	information.		

The	CISA	is	intended	to	improve	cybersecurity	in	the	United	States	by	enhanced	sharing	of	information	about	
The	CISA	is	intended	to	improve	cybersecurity	in	the	United	States	by	enhanced	sharing	of	information	about	
security	threats	among	the	U.S.	government	and	private	sector	entities,	including	financial	institutions.		The	CISA	
security	threats	among	the	U.S.	government	and	private	sector	entities,	including	financial	institutions.		The	CISA	
also	authorizes	companies	to	monitor	their	own	systems	notwithstanding	any	other	provision	of	law	and	allows	
also	authorizes	companies	to	monitor	their	own	systems	notwithstanding	any	other	provision	of	law	and	allows	
companies	to	carry	out	defensive	measures	on	their	own	systems	from	cyber-attacks.		The	law	includes	liability	
companies	to	carry	out	defensive	measures	on	their	own	systems	from	cyber-attacks.		The	law	includes	liability	
protections	for	companies	that	share	cyber	threat	information	with	third	parties	so	long	as	such	sharing	activity	is	
protections	for	companies	that	share	cyber	threat	information	with	third	parties	so	long	as	such	sharing	activity	is	
conducted	in	accordance	with	CISA.
conducted	in	accordance	with	CISA.

In	October	2016,	the	federal	bank	regulatory	agencies	issued	an	ANPR	regarding	enhanced	cyber	risk	
In	October	2016,	the	federal	bank	regulatory	agencies	issued	an	ANPR	regarding	enhanced	cyber	risk	

management	standards	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	their	third-party	service	
management	standards	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	their	third-party	service	
providers,	including	us	and	the	Bank.		The	proposed	rules	would	expand	existing	cybersecurity	regulations	and	
providers,	including	us	and	the	Bank.		The	proposed	rules	would	expand	existing	cybersecurity	regulations	and	
guidance	to	focus	on	cyber	risk	governance	and	management,	management	of	internal	and	external	dependencies,	
guidance	to	focus	on	cyber	risk	governance	and	management,	management	of	internal	and	external	dependencies,	
and	incident	response,	cyber	resilience,	and	situational	awareness.		In	addition,	the	proposal	contemplates	more	
and	incident	response,	cyber	resilience,	and	situational	awareness.		In	addition,	the	proposal	contemplates	more	
stringent	standards	for	institutions	with	systems	that	are	critical	to	the	financial	sector.		The	Federal	Reserve	
stringent	standards	for	institutions	with	systems	that	are	critical	to	the	financial	sector.		The	Federal	Reserve	
announced	in	May	2019	that	it	would	revisit	the	ANPR	in	the	future.		
announced	in	May	2019	that	it	would	revisit	the	ANPR	in	the	future.		

In	addition,	in	December	2020,	the	Federal	Reserve,	OCC	and	FDIC	issued	a	notice	of	proposed	rulemaking	that,	
In	addition,	in	December	2020,	the	Federal	Reserve,	OCC	and	FDIC	issued	a	notice	of	proposed	rulemaking	that,	

among	other	things,	would	require	a	banking	organization	to	notify	its	primary	federal	regulators	within	36	hours	
among	other	things,	would	require	a	banking	organization	to	notify	its	primary	federal	regulators	within	36	hours	
after	identifying	a	“computer-security	incident”	that	the	banking	organization	believes	in	good	faith	could	materially	
after	identifying	a	“computer-security	incident”	that	the	banking	organization	believes	in	good	faith	could	materially	

disrupt,	degrade	or	impair	its	business	or	operations	in	a	manner	that	would,	among	other	things,	jeopardize	the	

disrupt,	degrade	or	impair	its	business	or	operations	in	a	manner	that	would,	among	other	things,	jeopardize	the	

viability	of	its	operations,	result	in	customers	being	unable	to	access	their	deposit	and	other	accounts,	result	in	a	

viability	of	its	operations,	result	in	customers	being	unable	to	access	their	deposit	and	other	accounts,	result	in	a	

material	loss	of	revenue,	profit	or	franchise	value,	or	pose	a	threat	to	the	financial	stability	of	the	United	States.		

material	loss	of	revenue,	profit	or	franchise	value,	or	pose	a	threat	to	the	financial	stability	of	the	United	States.		

Community	Reinvestment	Act

Community	Reinvestment	Act

The	CRA	is	intended	to	encourage	banks	to	help	meet	the	credit	needs	of	their	service	areas,	including	low-	and	

The	CRA	is	intended	to	encourage	banks	to	help	meet	the	credit	needs	of	their	service	areas,	including	low-	and	

moderate-income	neighborhoods,	consistent	with	safe	and	soundness	practices.		The	relevant	federal	bank	

moderate-income	neighborhoods,	consistent	with	safe	and	soundness	practices.		The	relevant	federal	bank	

regulatory	agency,	the	OCC	in	the	Bank’s	case,	examines	each	bank	and	assigns	it	a	public	CRA	rating.		A	bank’s	

regulatory	agency,	the	OCC	in	the	Bank’s	case,	examines	each	bank	and	assigns	it	a	public	CRA	rating.		A	bank’s	

record	of	fair	lending	compliance	is	part	of	the	resulting	CRA	examination	report.

record	of	fair	lending	compliance	is	part	of	the	resulting	CRA	examination	report.

The	CRA	requires	the	relevant	federal	bank	regulatory	agency	to	consider	a	bank’s	CRA	assessment	when	

The	CRA	requires	the	relevant	federal	bank	regulatory	agency	to	consider	a	bank’s	CRA	assessment	when	

considering	the	bank’s	application	to	conduct	certain	mergers	or	acquisitions	or	to	open	or	relocate	a	branch	office.		

considering	the	bank’s	application	to	conduct	certain	mergers	or	acquisitions	or	to	open	or	relocate	a	branch	office.		

The	Federal	Reserve	also	must	consider	the	CRA	record	of	each	subsidiary	bank	of	a	BHC	in	connection	with	any	

The	Federal	Reserve	also	must	consider	the	CRA	record	of	each	subsidiary	bank	of	a	BHC	in	connection	with	any	

acquisition	or	merger	application	filed	by	the	BHC.		An	unsatisfactory	CRA	record	could	substantially	delay	or	result	

acquisition	or	merger	application	filed	by	the	BHC.		An	unsatisfactory	CRA	record	could	substantially	delay	or	result	

in	the	denial	of	an	approval	or	application	by	Huntington	or	the	Bank.		The	Bank	received	a	CRA	rating	of	

in	the	denial	of	an	approval	or	application	by	Huntington	or	the	Bank.		The	Bank	received	a	CRA	rating	of	

“Outstanding”	in	its	most	recent	examination.

“Outstanding”	in	its	most	recent	examination.

In	May	2020,	the	OCC	finalized	amendments	to	its	CRA	rules,	which	apply	to	national	banks,	including	the	Bank.		

In	May	2020,	the	OCC	finalized	amendments	to	its	CRA	rules,	which	apply	to	national	banks,	including	the	Bank.		

The	OCC’s	final	rule	clarifies	and	expands	the	types	of	activities	that	qualify	for	positive	CRA	consideration,	updates	

The	OCC’s	final	rule	clarifies	and	expands	the	types	of	activities	that	qualify	for	positive	CRA	consideration,	updates	

how	banks	determine	assessment	areas	in	which	they	are	evaluated,	establishes	objective	performance	standards	to	

how	banks	determine	assessment	areas	in	which	they	are	evaluated,	establishes	objective	performance	standards	to	

requirements.		The	Bank	must	comply	with	most	of	these	amended	requirements	by	January	1,	2023.		

requirements.		The	Bank	must	comply	with	most	of	these	amended	requirements	by	January	1,	2023.		

The	other	federal	banking	agencies,	the	FDIC	and	Federal	Reserve,	are	also	in	the	process	of	proposing	

The	other	federal	banking	agencies,	the	FDIC	and	Federal	Reserve,	are	also	in	the	process	of	proposing	

amendments	to	their	respective	CRA	rules.		While	FDIC	and	Federal	Reserve	CRA	rules	do	not	apply	to	the	Bank,	

amendments	to	their	respective	CRA	rules.		While	FDIC	and	Federal	Reserve	CRA	rules	do	not	apply	to	the	Bank,	

future	rulemaking	to	harmonize	the	CRA	rules	of	the	three	federal	banking	agencies	could	result	in	changes	to	CRA	

future	rulemaking	to	harmonize	the	CRA	rules	of	the	three	federal	banking	agencies	could	result	in	changes	to	CRA	

requirements	applicable	to	national	banks,	including	the	Bank.		

requirements	applicable	to	national	banks,	including	the	Bank.		

Debit	Interchange	Fees

Debit	Interchange	Fees

We	are	subject	to	a	statutory	requirement	that	interchange	fees	for	electronic	debit	transactions	that	are	paid	

We	are	subject	to	a	statutory	requirement	that	interchange	fees	for	electronic	debit	transactions	that	are	paid	

to	or	charged	by	payment	card	issuers,	including	the	Bank,	be	reasonable	and	proportional	to	the	cost	incurred	by	

to	or	charged	by	payment	card	issuers,	including	the	Bank,	be	reasonable	and	proportional	to	the	cost	incurred	by	

the	issuer.		Interchange	fees	for	electronic	debit	transactions	are	limited	to	21	cents	plus	0.05%	of	the	transaction,	

the	issuer.		Interchange	fees	for	electronic	debit	transactions	are	limited	to	21	cents	plus	0.05%	of	the	transaction,	

plus	an	additional	one	cent	per	transaction	fraud	adjustment.		These	fees	impose	requirements	regarding	routing	

plus	an	additional	one	cent	per	transaction	fraud	adjustment.		These	fees	impose	requirements	regarding	routing	

and	exclusivity	of	electronic	debit	transactions,	and	generally	require	that	debit	cards	be	usable	in	at	least	two	

and	exclusivity	of	electronic	debit	transactions,	and	generally	require	that	debit	cards	be	usable	in	at	least	two	

unaffiliated	networks.

unaffiliated	networks.

Consumer	Protection	Regulation	and	Supervision

Consumer	Protection	Regulation	and	Supervision

We	are	subject	to	supervision	and	regulation	by	the	CFPB	with	respect	to	federal	consumer	protection	laws.		

We	are	subject	to	supervision	and	regulation	by	the	CFPB	with	respect	to	federal	consumer	protection	laws.		

We	are	also	subject	to	certain	state	consumer	protection	laws,	and	under	the	Dodd-Frank	Act,	state	attorneys	

We	are	also	subject	to	certain	state	consumer	protection	laws,	and	under	the	Dodd-Frank	Act,	state	attorneys	

general	and	other	state	officials	are	empowered	to	enforce	certain	federal	consumer	protection	laws	and	

general	and	other	state	officials	are	empowered	to	enforce	certain	federal	consumer	protection	laws	and	

regulations.		State	authorities	have	increased	their	focus	on	and	enforcement	of	consumer	protection	rules.		These	

regulations.		State	authorities	have	increased	their	focus	on	and	enforcement	of	consumer	protection	rules.		These	

federal	and	state	consumer	protection	laws	apply	to	a	broad	range	of	our	activities	and	to	various	aspects	of	our	

federal	and	state	consumer	protection	laws	apply	to	a	broad	range	of	our	activities	and	to	various	aspects	of	our	

business	and	include	laws	relating	to	interest	rates,	fair	lending,	disclosures	of	credit	terms	and	estimated	

business	and	include	laws	relating	to	interest	rates,	fair	lending,	disclosures	of	credit	terms	and	estimated	

transaction	costs	to	consumer	borrowers,	debt	collection	practices,	the	use	of	and	the	provision	of	information	to	

transaction	costs	to	consumer	borrowers,	debt	collection	practices,	the	use	of	and	the	provision	of	information	to	

consumer	reporting	agencies,	and	the	prohibition	of	unfair,	deceptive,	or	abusive	acts	or	practices	in	connection	

consumer	reporting	agencies,	and	the	prohibition	of	unfair,	deceptive,	or	abusive	acts	or	practices	in	connection	

with	the	offer,	sale,	or	provision	of	consumer	financial	products	and	services.

with	the	offer,	sale,	or	provision	of	consumer	financial	products	and	services.

The	CFPB	has	promulgated	many	mortgage-related	final	rules	since	it	was	established	under	the	Dodd-Frank	

The	CFPB	has	promulgated	many	mortgage-related	final	rules	since	it	was	established	under	the	Dodd-Frank	

Act,	including	rules	related	to	the	ability	to	repay	and	qualified	mortgage	standards,	mortgage	servicing	standards,	

Act,	including	rules	related	to	the	ability	to	repay	and	qualified	mortgage	standards,	mortgage	servicing	standards,	

loan	originator	compensation	standards,	high-cost	mortgage	requirements,	HMDA	requirements,	and	appraisal	and	

loan	originator	compensation	standards,	high-cost	mortgage	requirements,	HMDA	requirements,	and	appraisal	and	

escrow	standards	for	higher	priced	mortgages.		The	mortgage-related	final	rules	issued	by	the	CFPB	have	materially	

escrow	standards	for	higher	priced	mortgages.		The	mortgage-related	final	rules	issued	by	the	CFPB	have	materially	

restructured	the	origination,	servicing,	and	securitization	of	residential	mortgages	in	the	United	States.		These	rules	

restructured	the	origination,	servicing,	and	securitization	of	residential	mortgages	in	the	United	States.		These	rules	

have	impacted,	and	will	continue	to	impact,	the	business	practices	of	mortgage	lenders,	including	the	Company.	

have	impacted,	and	will	continue	to	impact,	the	business	practices	of	mortgage	lenders,	including	the	Company.	

In	January	2021,	the	OCC	released	a	final	rule	that	would	require	certain	OCC-supervised	banks	to	provide	

In	January	2021,	the	OCC	released	a	final	rule	that	would	require	certain	OCC-supervised	banks	to	provide	

access	to	services,	capital,	and	credit	based	on	their	risk	assessment	of	individual	customers,	rather	than	broad-

access	to	services,	capital,	and	credit	based	on	their	risk	assessment	of	individual	customers,	rather	than	broad-

22					Huntington	Bancshares	Incorporated
22					Huntington	Bancshares	Incorporated

2020	Form	10-K					23

2020	Form	10-K					23

The	FDIC	issued	a	rule	that	requires	large	insured	depository	institutions,	including	the	Bank,	to	enhance	their	

The	FDIC	issued	a	rule	that	requires	large	insured	depository	institutions,	including	the	Bank,	to	enhance	their	

deposit	account	recordkeeping	and	related	information	technology	system	capabilities	to	facilitate	prompt	payment	

deposit	account	recordkeeping	and	related	information	technology	system	capabilities	to	facilitate	prompt	payment	

of	insured	deposits	if	such	an	institution	were	to	fail.		The	FDIC	has	established	an	initial	compliance	date	of	April	1,	

of	insured	deposits	if	such	an	institution	were	to	fail.		The	FDIC	has	established	an	initial	compliance	date	of	April	1,	

2020,	and	allows	each	large	insured	depository	institution	to	file	for	an	optional	extension	of	the	compliance	date	for	

2020,	and	allows	each	large	insured	depository	institution	to	file	for	an	optional	extension	of	the	compliance	date	for	

up	to	one	year,	to	a	date	no	later	than	April	1,	2021.		Huntington	filed	for	the	optional	extension	and	certified	its	

up	to	one	year,	to	a	date	no	later	than	April	1,	2021.		Huntington	filed	for	the	optional	extension	and	certified	its	

compliance	to	the	FDIC,	as	required	by	the	rule,	during	fourth	quarter	2020.		

compliance	to	the	FDIC,	as	required	by	the	rule,	during	fourth	quarter	2020.		

As	of	June	30,	2020,	the	DIF	reserve	ratio	fell	to	1.30%.		The	FDIC,	as	required	under	the	Federal	Deposit	

As	of	June	30,	2020,	the	DIF	reserve	ratio	fell	to	1.30%.		The	FDIC,	as	required	under	the	Federal	Deposit	

Insurance	Act,	established	a	plan	on	September	15,	2020,	to	restore	the	DIF	reserve	ratio	to	meet	or	exceed	1.35%	

Insurance	Act,	established	a	plan	on	September	15,	2020,	to	restore	the	DIF	reserve	ratio	to	meet	or	exceed	1.35%	

within	eight	years.		The	FDIC’s	restoration	plan	projects	the	reserve	ratio	to	exceed	1.35%	without	increasing	the	

within	eight	years.		The	FDIC’s	restoration	plan	projects	the	reserve	ratio	to	exceed	1.35%	without	increasing	the	

deposit	insurance	assessment	rate,	subject	to	ongoing	monitoring	over	the	next	eight	years.		The	FDIC	could	increase	

deposit	insurance	assessment	rate,	subject	to	ongoing	monitoring	over	the	next	eight	years.		The	FDIC	could	increase	

the	deposit	insurance	assessments	for	certain	insured	depository	institutions,	including	the	Bank,	if	the	DIF	reserve	

the	deposit	insurance	assessments	for	certain	insured	depository	institutions,	including	the	Bank,	if	the	DIF	reserve	

ratio	is	not	restored	as	projected.	

ratio	is	not	restored	as	projected.	

Compensation	

Compensation	

Our	compensation	practices	are	subject	to	oversight	by	the	Federal	Reserve	and,	with	respect	to	some	of	our	

Our	compensation	practices	are	subject	to	oversight	by	the	Federal	Reserve	and,	with	respect	to	some	of	our	

subsidiaries	and	employees,	by	other	financial	regulatory	bodies.		The	scope	and	content	of	compensation	regulation	

subsidiaries	and	employees,	by	other	financial	regulatory	bodies.		The	scope	and	content	of	compensation	regulation	

in	the	financial	industry	are	continuing	to	develop,	and	we	expect	that	these	regulations	and	resulting	market	

in	the	financial	industry	are	continuing	to	develop,	and	we	expect	that	these	regulations	and	resulting	market	

practices	will	continue	to	evolve	over	a	number	of	years.		

practices	will	continue	to	evolve	over	a	number	of	years.		

The	federal	bank	regulatory	agencies	have	issued	joint	guidance	on	executive	compensation	designed	to	ensure	

The	federal	bank	regulatory	agencies	have	issued	joint	guidance	on	executive	compensation	designed	to	ensure	

that	the	incentive	compensation	policies	of	banking	organizations,	such	as	Huntington	and	the	Bank,	do	not	

that	the	incentive	compensation	policies	of	banking	organizations,	such	as	Huntington	and	the	Bank,	do	not	

encourage	imprudent	risk	taking	and	are	consistent	with	the	safety	and	soundness	of	the	organization.		In	addition,	

encourage	imprudent	risk	taking	and	are	consistent	with	the	safety	and	soundness	of	the	organization.		In	addition,	

the	Dodd-Frank	Act	requires	the	federal	bank	regulatory	agencies	and	the	SEC	to	issue	regulations	or	guidelines	

the	Dodd-Frank	Act	requires	the	federal	bank	regulatory	agencies	and	the	SEC	to	issue	regulations	or	guidelines	

requiring	covered	financial	institutions,	including	Huntington	and	the	Bank,	to	prohibit	incentive-based	payment	

requiring	covered	financial	institutions,	including	Huntington	and	the	Bank,	to	prohibit	incentive-based	payment	

arrangements	that	encourage	inappropriate	risks	by	providing	compensation	that	is	excessive	or	that	could	lead	to	

arrangements	that	encourage	inappropriate	risks	by	providing	compensation	that	is	excessive	or	that	could	lead	to	

material	financial	loss	to	the	institution.		A	proposed	rule	was	issued	in	2016.		Also	pursuant	to	the	Dodd-Frank	Act,	

material	financial	loss	to	the	institution.		A	proposed	rule	was	issued	in	2016.		Also	pursuant	to	the	Dodd-Frank	Act,	

in	2015,	the	SEC	proposed	rules	that	would	direct	stock	exchanges	to	require	listed	companies	to	implement	

in	2015,	the	SEC	proposed	rules	that	would	direct	stock	exchanges	to	require	listed	companies	to	implement	

clawback	policies	to	recover	incentive-based	compensation	from	current	or	former	executive	officers	in	the	event	of	

clawback	policies	to	recover	incentive-based	compensation	from	current	or	former	executive	officers	in	the	event	of	

certain	financial	restatements	and	would	also	require	companies	to	disclose	their	clawback	policies	and	their	actions	

certain	financial	restatements	and	would	also	require	companies	to	disclose	their	clawback	policies	and	their	actions	

under	those	policies.		Huntington	continues	to	evaluate	the	proposed	rules,	both	of	which	are	subject	to	further	

under	those	policies.		Huntington	continues	to	evaluate	the	proposed	rules,	both	of	which	are	subject	to	further	

rulemaking	procedures.

rulemaking	procedures.

Cybersecurity

Cybersecurity

records	and	information.		

records	and	information.		

The	GLBA	requires	financial	institutions	to	implement	a	comprehensive	information	security	program	that	

The	GLBA	requires	financial	institutions	to	implement	a	comprehensive	information	security	program	that	

includes	administrative,	technical,	and	physical	safeguards	to	ensure	the	security	and	confidentiality	of	customer	

includes	administrative,	technical,	and	physical	safeguards	to	ensure	the	security	and	confidentiality	of	customer	

The	CISA	is	intended	to	improve	cybersecurity	in	the	United	States	by	enhanced	sharing	of	information	about	

The	CISA	is	intended	to	improve	cybersecurity	in	the	United	States	by	enhanced	sharing	of	information	about	

security	threats	among	the	U.S.	government	and	private	sector	entities,	including	financial	institutions.		The	CISA	

security	threats	among	the	U.S.	government	and	private	sector	entities,	including	financial	institutions.		The	CISA	

also	authorizes	companies	to	monitor	their	own	systems	notwithstanding	any	other	provision	of	law	and	allows	

also	authorizes	companies	to	monitor	their	own	systems	notwithstanding	any	other	provision	of	law	and	allows	

companies	to	carry	out	defensive	measures	on	their	own	systems	from	cyber-attacks.		The	law	includes	liability	

companies	to	carry	out	defensive	measures	on	their	own	systems	from	cyber-attacks.		The	law	includes	liability	

protections	for	companies	that	share	cyber	threat	information	with	third	parties	so	long	as	such	sharing	activity	is	

protections	for	companies	that	share	cyber	threat	information	with	third	parties	so	long	as	such	sharing	activity	is	

conducted	in	accordance	with	CISA.

conducted	in	accordance	with	CISA.

In	October	2016,	the	federal	bank	regulatory	agencies	issued	an	ANPR	regarding	enhanced	cyber	risk	

In	October	2016,	the	federal	bank	regulatory	agencies	issued	an	ANPR	regarding	enhanced	cyber	risk	

management	standards	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	their	third-party	service	

management	standards	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	their	third-party	service	

providers,	including	us	and	the	Bank.		The	proposed	rules	would	expand	existing	cybersecurity	regulations	and	

providers,	including	us	and	the	Bank.		The	proposed	rules	would	expand	existing	cybersecurity	regulations	and	

guidance	to	focus	on	cyber	risk	governance	and	management,	management	of	internal	and	external	dependencies,	

guidance	to	focus	on	cyber	risk	governance	and	management,	management	of	internal	and	external	dependencies,	

and	incident	response,	cyber	resilience,	and	situational	awareness.		In	addition,	the	proposal	contemplates	more	

and	incident	response,	cyber	resilience,	and	situational	awareness.		In	addition,	the	proposal	contemplates	more	

stringent	standards	for	institutions	with	systems	that	are	critical	to	the	financial	sector.		The	Federal	Reserve	

stringent	standards	for	institutions	with	systems	that	are	critical	to	the	financial	sector.		The	Federal	Reserve	

announced	in	May	2019	that	it	would	revisit	the	ANPR	in	the	future.		

announced	in	May	2019	that	it	would	revisit	the	ANPR	in	the	future.		

In	addition,	in	December	2020,	the	Federal	Reserve,	OCC	and	FDIC	issued	a	notice	of	proposed	rulemaking	that,	

In	addition,	in	December	2020,	the	Federal	Reserve,	OCC	and	FDIC	issued	a	notice	of	proposed	rulemaking	that,	

among	other	things,	would	require	a	banking	organization	to	notify	its	primary	federal	regulators	within	36	hours	

among	other	things,	would	require	a	banking	organization	to	notify	its	primary	federal	regulators	within	36	hours	

after	identifying	a	“computer-security	incident”	that	the	banking	organization	believes	in	good	faith	could	materially	

after	identifying	a	“computer-security	incident”	that	the	banking	organization	believes	in	good	faith	could	materially	

disrupt,	degrade	or	impair	its	business	or	operations	in	a	manner	that	would,	among	other	things,	jeopardize	the	
disrupt,	degrade	or	impair	its	business	or	operations	in	a	manner	that	would,	among	other	things,	jeopardize	the	
viability	of	its	operations,	result	in	customers	being	unable	to	access	their	deposit	and	other	accounts,	result	in	a	
viability	of	its	operations,	result	in	customers	being	unable	to	access	their	deposit	and	other	accounts,	result	in	a	
material	loss	of	revenue,	profit	or	franchise	value,	or	pose	a	threat	to	the	financial	stability	of	the	United	States.		
material	loss	of	revenue,	profit	or	franchise	value,	or	pose	a	threat	to	the	financial	stability	of	the	United	States.		

Community	Reinvestment	Act
Community	Reinvestment	Act

The	CRA	is	intended	to	encourage	banks	to	help	meet	the	credit	needs	of	their	service	areas,	including	low-	and	
The	CRA	is	intended	to	encourage	banks	to	help	meet	the	credit	needs	of	their	service	areas,	including	low-	and	

moderate-income	neighborhoods,	consistent	with	safe	and	soundness	practices.		The	relevant	federal	bank	
moderate-income	neighborhoods,	consistent	with	safe	and	soundness	practices.		The	relevant	federal	bank	
regulatory	agency,	the	OCC	in	the	Bank’s	case,	examines	each	bank	and	assigns	it	a	public	CRA	rating.		A	bank’s	
regulatory	agency,	the	OCC	in	the	Bank’s	case,	examines	each	bank	and	assigns	it	a	public	CRA	rating.		A	bank’s	
record	of	fair	lending	compliance	is	part	of	the	resulting	CRA	examination	report.
record	of	fair	lending	compliance	is	part	of	the	resulting	CRA	examination	report.

The	CRA	requires	the	relevant	federal	bank	regulatory	agency	to	consider	a	bank’s	CRA	assessment	when	
The	CRA	requires	the	relevant	federal	bank	regulatory	agency	to	consider	a	bank’s	CRA	assessment	when	

considering	the	bank’s	application	to	conduct	certain	mergers	or	acquisitions	or	to	open	or	relocate	a	branch	office.		
considering	the	bank’s	application	to	conduct	certain	mergers	or	acquisitions	or	to	open	or	relocate	a	branch	office.		
The	Federal	Reserve	also	must	consider	the	CRA	record	of	each	subsidiary	bank	of	a	BHC	in	connection	with	any	
The	Federal	Reserve	also	must	consider	the	CRA	record	of	each	subsidiary	bank	of	a	BHC	in	connection	with	any	
acquisition	or	merger	application	filed	by	the	BHC.		An	unsatisfactory	CRA	record	could	substantially	delay	or	result	
acquisition	or	merger	application	filed	by	the	BHC.		An	unsatisfactory	CRA	record	could	substantially	delay	or	result	
in	the	denial	of	an	approval	or	application	by	Huntington	or	the	Bank.		The	Bank	received	a	CRA	rating	of	
in	the	denial	of	an	approval	or	application	by	Huntington	or	the	Bank.		The	Bank	received	a	CRA	rating	of	
“Outstanding”	in	its	most	recent	examination.
“Outstanding”	in	its	most	recent	examination.

In	May	2020,	the	OCC	finalized	amendments	to	its	CRA	rules,	which	apply	to	national	banks,	including	the	Bank.		
In	May	2020,	the	OCC	finalized	amendments	to	its	CRA	rules,	which	apply	to	national	banks,	including	the	Bank.		
The	OCC’s	final	rule	clarifies	and	expands	the	types	of	activities	that	qualify	for	positive	CRA	consideration,	updates	
The	OCC’s	final	rule	clarifies	and	expands	the	types	of	activities	that	qualify	for	positive	CRA	consideration,	updates	
how	banks	determine	assessment	areas	in	which	they	are	evaluated,	establishes	objective	performance	standards	to	
how	banks	determine	assessment	areas	in	which	they	are	evaluated,	establishes	objective	performance	standards	to	
evaluate	CRA	performance	and	imposes	more	comprehensive	CRA-related	data	collection	and	reporting	
evaluate	CRA	performance	and	imposes	more	comprehensive	CRA-related	data	collection	and	reporting	
requirements.		The	Bank	must	comply	with	most	of	these	amended	requirements	by	January	1,	2023.		
requirements.		The	Bank	must	comply	with	most	of	these	amended	requirements	by	January	1,	2023.		

The	other	federal	banking	agencies,	the	FDIC	and	Federal	Reserve,	are	also	in	the	process	of	proposing	
The	other	federal	banking	agencies,	the	FDIC	and	Federal	Reserve,	are	also	in	the	process	of	proposing	
amendments	to	their	respective	CRA	rules.		While	FDIC	and	Federal	Reserve	CRA	rules	do	not	apply	to	the	Bank,	
amendments	to	their	respective	CRA	rules.		While	FDIC	and	Federal	Reserve	CRA	rules	do	not	apply	to	the	Bank,	
future	rulemaking	to	harmonize	the	CRA	rules	of	the	three	federal	banking	agencies	could	result	in	changes	to	CRA	
future	rulemaking	to	harmonize	the	CRA	rules	of	the	three	federal	banking	agencies	could	result	in	changes	to	CRA	
requirements	applicable	to	national	banks,	including	the	Bank.		
requirements	applicable	to	national	banks,	including	the	Bank.		

Debit	Interchange	Fees
Debit	Interchange	Fees

We	are	subject	to	a	statutory	requirement	that	interchange	fees	for	electronic	debit	transactions	that	are	paid	
We	are	subject	to	a	statutory	requirement	that	interchange	fees	for	electronic	debit	transactions	that	are	paid	

to	or	charged	by	payment	card	issuers,	including	the	Bank,	be	reasonable	and	proportional	to	the	cost	incurred	by	
to	or	charged	by	payment	card	issuers,	including	the	Bank,	be	reasonable	and	proportional	to	the	cost	incurred	by	
the	issuer.		Interchange	fees	for	electronic	debit	transactions	are	limited	to	21	cents	plus	0.05%	of	the	transaction,	
the	issuer.		Interchange	fees	for	electronic	debit	transactions	are	limited	to	21	cents	plus	0.05%	of	the	transaction,	
plus	an	additional	one	cent	per	transaction	fraud	adjustment.		These	fees	impose	requirements	regarding	routing	
plus	an	additional	one	cent	per	transaction	fraud	adjustment.		These	fees	impose	requirements	regarding	routing	
and	exclusivity	of	electronic	debit	transactions,	and	generally	require	that	debit	cards	be	usable	in	at	least	two	
and	exclusivity	of	electronic	debit	transactions,	and	generally	require	that	debit	cards	be	usable	in	at	least	two	
unaffiliated	networks.
unaffiliated	networks.

Consumer	Protection	Regulation	and	Supervision
Consumer	Protection	Regulation	and	Supervision

We	are	subject	to	supervision	and	regulation	by	the	CFPB	with	respect	to	federal	consumer	protection	laws.		
We	are	subject	to	supervision	and	regulation	by	the	CFPB	with	respect	to	federal	consumer	protection	laws.		

We	are	also	subject	to	certain	state	consumer	protection	laws,	and	under	the	Dodd-Frank	Act,	state	attorneys	
We	are	also	subject	to	certain	state	consumer	protection	laws,	and	under	the	Dodd-Frank	Act,	state	attorneys	
general	and	other	state	officials	are	empowered	to	enforce	certain	federal	consumer	protection	laws	and	
general	and	other	state	officials	are	empowered	to	enforce	certain	federal	consumer	protection	laws	and	
regulations.		State	authorities	have	increased	their	focus	on	and	enforcement	of	consumer	protection	rules.		These	
regulations.		State	authorities	have	increased	their	focus	on	and	enforcement	of	consumer	protection	rules.		These	
federal	and	state	consumer	protection	laws	apply	to	a	broad	range	of	our	activities	and	to	various	aspects	of	our	
federal	and	state	consumer	protection	laws	apply	to	a	broad	range	of	our	activities	and	to	various	aspects	of	our	
business	and	include	laws	relating	to	interest	rates,	fair	lending,	disclosures	of	credit	terms	and	estimated	
business	and	include	laws	relating	to	interest	rates,	fair	lending,	disclosures	of	credit	terms	and	estimated	
transaction	costs	to	consumer	borrowers,	debt	collection	practices,	the	use	of	and	the	provision	of	information	to	
transaction	costs	to	consumer	borrowers,	debt	collection	practices,	the	use	of	and	the	provision	of	information	to	
consumer	reporting	agencies,	and	the	prohibition	of	unfair,	deceptive,	or	abusive	acts	or	practices	in	connection	
consumer	reporting	agencies,	and	the	prohibition	of	unfair,	deceptive,	or	abusive	acts	or	practices	in	connection	
with	the	offer,	sale,	or	provision	of	consumer	financial	products	and	services.
with	the	offer,	sale,	or	provision	of	consumer	financial	products	and	services.

The	CFPB	has	promulgated	many	mortgage-related	final	rules	since	it	was	established	under	the	Dodd-Frank	
The	CFPB	has	promulgated	many	mortgage-related	final	rules	since	it	was	established	under	the	Dodd-Frank	
Act,	including	rules	related	to	the	ability	to	repay	and	qualified	mortgage	standards,	mortgage	servicing	standards,	
Act,	including	rules	related	to	the	ability	to	repay	and	qualified	mortgage	standards,	mortgage	servicing	standards,	
loan	originator	compensation	standards,	high-cost	mortgage	requirements,	HMDA	requirements,	and	appraisal	and	
loan	originator	compensation	standards,	high-cost	mortgage	requirements,	HMDA	requirements,	and	appraisal	and	
escrow	standards	for	higher	priced	mortgages.		The	mortgage-related	final	rules	issued	by	the	CFPB	have	materially	
escrow	standards	for	higher	priced	mortgages.		The	mortgage-related	final	rules	issued	by	the	CFPB	have	materially	
restructured	the	origination,	servicing,	and	securitization	of	residential	mortgages	in	the	United	States.		These	rules	
restructured	the	origination,	servicing,	and	securitization	of	residential	mortgages	in	the	United	States.		These	rules	
have	impacted,	and	will	continue	to	impact,	the	business	practices	of	mortgage	lenders,	including	the	Company.	
have	impacted,	and	will	continue	to	impact,	the	business	practices	of	mortgage	lenders,	including	the	Company.	

In	January	2021,	the	OCC	released	a	final	rule	that	would	require	certain	OCC-supervised	banks	to	provide	
In	January	2021,	the	OCC	released	a	final	rule	that	would	require	certain	OCC-supervised	banks	to	provide	
access	to	services,	capital,	and	credit	based	on	their	risk	assessment	of	individual	customers,	rather	than	broad-
access	to	services,	capital,	and	credit	based	on	their	risk	assessment	of	individual	customers,	rather	than	broad-

22					Huntington	Bancshares	Incorporated

22					Huntington	Bancshares	Incorporated

2020	Form	10-K					23
2020	Form	10-K					23

based	decisions	affecting	whole	categories	or	classes	of	customers,	which	includes	requiring	banks	to	make	each	
based	decisions	affecting	whole	categories	or	classes	of	customers,	which	includes	requiring	banks	to	make	each	
financial	service	they	offer	available	to	all	persons	in	the	geographic	market	served	by	them	on	proportionally	equal	
financial	service	they	offer	available	to	all	persons	in	the	geographic	market	served	by	them	on	proportionally	equal	
terms.		The	rule	is	scheduled	to	take	effect	on	April	1,	2021.		However,	the	OCC	announced	that	the	next	confirmed	
terms.		The	rule	is	scheduled	to	take	effect	on	April	1,	2021.		However,	the	OCC	announced	that	the	next	confirmed	
Comptroller	of	the	Currency	will	review	the	final	rule,	and	its	future	remains	uncertain.	
Comptroller	of	the	Currency	will	review	the	final	rule,	and	its	future	remains	uncertain.	

Item	1A:	Risk	Factors		

Item	1A:	Risk	Factors		

Risk	Factor	Summary

Risk	Factor	Summary

Available	Information
Available	Information

We	are	subject	to	the	informational	requirements	of	the	Exchange	Act	and,	in	accordance	with	the	Exchange	
We	are	subject	to	the	informational	requirements	of	the	Exchange	Act	and,	in	accordance	with	the	Exchange	
Act,	we	file	annual,	quarterly,	and	current	reports,	proxy	statements,	and	other	information	with	the	SEC.		The	SEC	
Act,	we	file	annual,	quarterly,	and	current	reports,	proxy	statements,	and	other	information	with	the	SEC.		The	SEC	
maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	issuers,	like	us,	
maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	issuers,	like	us,	
who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	other	
who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	other	
information,	including	any	related	amendments,	filed	by	us	with,	or	furnished	by	us	to,	the	SEC	are	also	available	
information,	including	any	related	amendments,	filed	by	us	with,	or	furnished	by	us	to,	the	SEC	are	also	available	
free	of	charge	at	our	Internet	web	site	as	soon	as	reasonably	practicable	after	such	material	is	electronically	filed	
free	of	charge	at	our	Internet	web	site	as	soon	as	reasonably	practicable	after	such	material	is	electronically	filed	
with,	or	furnished	to,	the	SEC.		The	address	of	the	site	is	http://www.huntington.com.		Except	as	specifically	
with,	or	furnished	to,	the	SEC.		The	address	of	the	site	is	http://www.huntington.com.		Except	as	specifically	
incorporated	by	reference	into	this	Annual	Report	on	Form	10-K,	information	on	those	web	sites	is	not	part	of	this	
incorporated	by	reference	into	this	Annual	Report	on	Form	10-K,	information	on	those	web	sites	is	not	part	of	this	
report.		You	also	should	be	able	to	inspect	reports,	proxy	statements,	and	other	information	about	us	at	the	offices	
report.		You	also	should	be	able	to	inspect	reports,	proxy	statements,	and	other	information	about	us	at	the	offices	
of	the	Nasdaq	National	Market	at	33	Whitehall	Street,	New	York,	New	York	10004.
of	the	Nasdaq	National	Market	at	33	Whitehall	Street,	New	York,	New	York	10004.

Our	business	is	subject	to	numerous	risks	and	uncertainties.		While	there	is	no	assurance	that	any	lists	of	risks	

Our	business	is	subject	to	numerous	risks	and	uncertainties.		While	there	is	no	assurance	that	any	lists	of	risks	

and	uncertainties	of	risk	factors	is	complete,	below	is	a	summary	of	risk	factors	which	impact	our	business.		This	

and	uncertainties	of	risk	factors	is	complete,	below	is	a	summary	of	risk	factors	which	impact	our	business.		This	

summary	should	be	read	in	conjunction	with	the	“Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors”	immediately	

summary	should	be	read	in	conjunction	with	the	“Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors”	immediately	

following	this	summary	on	pages	25	through	43	in	this	2020	Annual	Report	on	Form	10-K.		Risks	which	impact	our	

following	this	summary	on	pages	25	through	43	in	this	2020	Annual	Report	on	Form	10-K.		Risks	which	impact	our	

business	include	but	are	not	limited	to:	

business	include	but	are	not	limited	to:	

COVID-19	related	Risk:	

COVID-19	related	Risk:	

•

•

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	

financial	condition,	liquidity,	and	results	of	operations.

financial	condition,	liquidity,	and	results	of	operations.

• Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	

• Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	

adversely	affect	our	income	and	capital.	

adversely	affect	our	income	and	capital.	

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	

impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	

impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	

flows,	financial	condition,	results	of	operations,	and	capital.	

flows,	financial	condition,	results	of	operations,	and	capital.	

• Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

• Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	

depositors,	creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	

depositors,	creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	

Credit	Risks:

Credit	Risks:

Market	Risks:	

Market	Risks:	

•

•

•

•

•

•

Liquidity	Risks:

Liquidity	Risks:

depositor	confidence.

depositor	confidence.

other	corporate	activities.

other	corporate	activities.

Operational	Risks:	

Operational	Risks:	

• Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	

• Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	

which	could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	

which	could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	

well	as	cause	legal	or	reputational	harm.	

well	as	cause	legal	or	reputational	harm.	

• We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	

• We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	

colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	

colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	

result	in	the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	

result	in	the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	

significant	legal	and	financial	exposure.	

significant	legal	and	financial	exposure.	

•

•

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	

and	timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	

and	timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	

affecting	our	business	and	our	stock	price.

affecting	our	business	and	our	stock	price.

Compliance	Risks:	

Compliance	Risks:	

• We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	

• We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	

corporate	governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	

corporate	governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	

them,	or	our	failure	to	comply	with	them,	may	adversely	affect	us.	

them,	or	our	failure	to	comply	with	them,	may	adversely	affect	us.	

•

•

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	

materially	adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	

materially	adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	

efficiency	of	our	internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	

efficiency	of	our	internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	

recorded	assets,	requiring	us	to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	

recorded	assets,	requiring	us	to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	

opportunities,	and	otherwise	resulting	in	a	material	adverse	impact	on	our	financial	condition,	results	of	

opportunities,	and	otherwise	resulting	in	a	material	adverse	impact	on	our	financial	condition,	results	of	

operation,	liquidity,	or	stock	price.

operation,	liquidity,	or	stock	price.

24					Huntington	Bancshares	Incorporated
24					Huntington	Bancshares	Incorporated

2020	Form	10-K					25

2020	Form	10-K					25

based	decisions	affecting	whole	categories	or	classes	of	customers,	which	includes	requiring	banks	to	make	each	

based	decisions	affecting	whole	categories	or	classes	of	customers,	which	includes	requiring	banks	to	make	each	

financial	service	they	offer	available	to	all	persons	in	the	geographic	market	served	by	them	on	proportionally	equal	

financial	service	they	offer	available	to	all	persons	in	the	geographic	market	served	by	them	on	proportionally	equal	

terms.		The	rule	is	scheduled	to	take	effect	on	April	1,	2021.		However,	the	OCC	announced	that	the	next	confirmed	

terms.		The	rule	is	scheduled	to	take	effect	on	April	1,	2021.		However,	the	OCC	announced	that	the	next	confirmed	

Comptroller	of	the	Currency	will	review	the	final	rule,	and	its	future	remains	uncertain.	

Comptroller	of	the	Currency	will	review	the	final	rule,	and	its	future	remains	uncertain.	

Available	Information

Available	Information

We	are	subject	to	the	informational	requirements	of	the	Exchange	Act	and,	in	accordance	with	the	Exchange	

We	are	subject	to	the	informational	requirements	of	the	Exchange	Act	and,	in	accordance	with	the	Exchange	

Act,	we	file	annual,	quarterly,	and	current	reports,	proxy	statements,	and	other	information	with	the	SEC.		The	SEC	

Act,	we	file	annual,	quarterly,	and	current	reports,	proxy	statements,	and	other	information	with	the	SEC.		The	SEC	

maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	issuers,	like	us,	

maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	issuers,	like	us,	

who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	other	

who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	other	

information,	including	any	related	amendments,	filed	by	us	with,	or	furnished	by	us	to,	the	SEC	are	also	available	

information,	including	any	related	amendments,	filed	by	us	with,	or	furnished	by	us	to,	the	SEC	are	also	available	

free	of	charge	at	our	Internet	web	site	as	soon	as	reasonably	practicable	after	such	material	is	electronically	filed	

free	of	charge	at	our	Internet	web	site	as	soon	as	reasonably	practicable	after	such	material	is	electronically	filed	

with,	or	furnished	to,	the	SEC.		The	address	of	the	site	is	http://www.huntington.com.		Except	as	specifically	

with,	or	furnished	to,	the	SEC.		The	address	of	the	site	is	http://www.huntington.com.		Except	as	specifically	

incorporated	by	reference	into	this	Annual	Report	on	Form	10-K,	information	on	those	web	sites	is	not	part	of	this	

incorporated	by	reference	into	this	Annual	Report	on	Form	10-K,	information	on	those	web	sites	is	not	part	of	this	

report.		You	also	should	be	able	to	inspect	reports,	proxy	statements,	and	other	information	about	us	at	the	offices	

report.		You	also	should	be	able	to	inspect	reports,	proxy	statements,	and	other	information	about	us	at	the	offices	

of	the	Nasdaq	National	Market	at	33	Whitehall	Street,	New	York,	New	York	10004.

of	the	Nasdaq	National	Market	at	33	Whitehall	Street,	New	York,	New	York	10004.

Item	1A:	Risk	Factors		
Item	1A:	Risk	Factors		

Risk	Factor	Summary
Risk	Factor	Summary

Our	business	is	subject	to	numerous	risks	and	uncertainties.		While	there	is	no	assurance	that	any	lists	of	risks	
Our	business	is	subject	to	numerous	risks	and	uncertainties.		While	there	is	no	assurance	that	any	lists	of	risks	

and	uncertainties	of	risk	factors	is	complete,	below	is	a	summary	of	risk	factors	which	impact	our	business.		This	
and	uncertainties	of	risk	factors	is	complete,	below	is	a	summary	of	risk	factors	which	impact	our	business.		This	
summary	should	be	read	in	conjunction	with	the	“Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors”	immediately	
summary	should	be	read	in	conjunction	with	the	“Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors”	immediately	
following	this	summary	on	pages	25	through	43	in	this	2020	Annual	Report	on	Form	10-K.		Risks	which	impact	our	
following	this	summary	on	pages	25	through	43	in	this	2020	Annual	Report	on	Form	10-K.		Risks	which	impact	our	
business	include	but	are	not	limited	to:	
business	include	but	are	not	limited	to:	

COVID-19	related	Risk:	
COVID-19	related	Risk:	

•
•

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	
The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	
financial	condition,	liquidity,	and	results	of	operations.
financial	condition,	liquidity,	and	results	of	operations.

Credit	Risks:
Credit	Risks:

• Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	
• Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	

adversely	affect	our	income	and	capital.	
adversely	affect	our	income	and	capital.	

Market	Risks:	
Market	Risks:	

•
•

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	
Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	
impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	
impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	
flows,	financial	condition,	results	of	operations,	and	capital.	
flows,	financial	condition,	results	of	operations,	and	capital.	

• Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.
• Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

Liquidity	Risks:
Liquidity	Risks:

•
•

•
•

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	
Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	
depositor	confidence.
depositor	confidence.

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	
If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	
depositors,	creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	
depositors,	creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	
other	corporate	activities.
other	corporate	activities.

Operational	Risks:	
Operational	Risks:	

• Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	
• Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	

which	could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	
which	could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	
well	as	cause	legal	or	reputational	harm.	
well	as	cause	legal	or	reputational	harm.	

• We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	
• We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	
colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	
colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	
result	in	the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	
result	in	the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	
significant	legal	and	financial	exposure.	
significant	legal	and	financial	exposure.	

•
•

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	
Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	
and	timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	
and	timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	
affecting	our	business	and	our	stock	price.
affecting	our	business	and	our	stock	price.

Compliance	Risks:	
Compliance	Risks:	

• We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	
• We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	

corporate	governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	
corporate	governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	
them,	or	our	failure	to	comply	with	them,	may	adversely	affect	us.	
them,	or	our	failure	to	comply	with	them,	may	adversely	affect	us.	

•
•

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	
Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	
materially	adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	
materially	adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	
efficiency	of	our	internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	
efficiency	of	our	internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	
recorded	assets,	requiring	us	to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	
recorded	assets,	requiring	us	to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	
opportunities,	and	otherwise	resulting	in	a	material	adverse	impact	on	our	financial	condition,	results	of	
opportunities,	and	otherwise	resulting	in	a	material	adverse	impact	on	our	financial	condition,	results	of	
operation,	liquidity,	or	stock	price.
operation,	liquidity,	or	stock	price.

24					Huntington	Bancshares	Incorporated

24					Huntington	Bancshares	Incorporated

2020	Form	10-K					25
2020	Form	10-K					25

• Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	
• Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	

•

•

Reputation	risk,	which	is	the	risk	that	negative	publicity	regarding	an	institution’s	business	practices,	

Reputation	risk,	which	is	the	risk	that	negative	publicity	regarding	an	institution’s	business	practices,	

cause	us	material	financial	loss
cause	us	material	financial	loss

Strategic	Risks:	
Strategic	Risks:	

• We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	
• We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	
strategic	plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	
strategic	plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	
preferences.		
preferences.		

•
•

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	
Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	
capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	
capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	
regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-
regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-
effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.
effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

Risks	related	to	the	TCF	Merger:
Risks	related	to	the	TCF	Merger:

• We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	
• We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

•
•

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	
Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	
Huntington	and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.
Huntington	and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.

• Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	
• Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	

pending.	
pending.	

Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors
Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors

Huntington	has	formalized	a	holistic	risk	governance	framework	in	alignment	with	the	size,	complexity,	and	
Huntington	has	formalized	a	holistic	risk	governance	framework	in	alignment	with	the	size,	complexity,	and	
profile	of	the	Company.		We,	like	other	financial	companies,	are	subject	to	a	number	of	risks	that	may	adversely	
profile	of	the	Company.		We,	like	other	financial	companies,	are	subject	to	a	number	of	risks	that	may	adversely	
affect	our	financial	condition	or	results	of	operations,	many	of	which	are	outside	of	our	direct	control.		Our	
affect	our	financial	condition	or	results	of	operations,	many	of	which	are	outside	of	our	direct	control.		Our	
framework	is	approved	by	the	ROC	of	Huntington’s	Board	of	Directors	(the	Board).		Key	components	include	
framework	is	approved	by	the	ROC	of	Huntington’s	Board	of	Directors	(the	Board).		Key	components	include	
establishing	our	risk	appetite,	lines	of	defense	and	risk	pillars,	governance	and	committee	oversight	and	limit	setting	
establishing	our	risk	appetite,	lines	of	defense	and	risk	pillars,	governance	and	committee	oversight	and	limit	setting	
and	escalation	processes.		Huntington	classifies/aggregates	risk	into	seven	risk	pillars.		Huntington	recognizes	that	
and	escalation	processes.		Huntington	classifies/aggregates	risk	into	seven	risk	pillars.		Huntington	recognizes	that	
risks	can	be	interrelated	or	embedded	within	each	other,	and	therefore	managing	across	risk	pillars	is	a	key	
risks	can	be	interrelated	or	embedded	within	each	other,	and	therefore	managing	across	risk	pillars	is	a	key	
component	of	the	framework.		The	following	defines	the	Company’s	risk	pillars.
component	of	the	framework.		The	following	defines	the	Company’s	risk	pillars.

•
•

Credit	risk,	which	is	the	risk	of	loss	due	to	loan	and	lease	customers	or	other	counterparties	not	being	able	
Credit	risk,	which	is	the	risk	of	loss	due	to	loan	and	lease	customers	or	other	counterparties	not	being	able	
to	meet	their	financial	obligations	under	agreed	upon	terms;	
to	meet	their	financial	obligations	under	agreed	upon	terms;	

• Market	risk,	which	occurs	when	fluctuations	in	interest	rates	impact	earnings	and	capital.		Financial	impacts	
• Market	risk,	which	occurs	when	fluctuations	in	interest	rates	impact	earnings	and	capital.		Financial	impacts	
are	realized	through	changes	in	the	interest	rates	of	balance	sheet	assets	and	liabilities	(net	interest	margin)	
are	realized	through	changes	in	the	interest	rates	of	balance	sheet	assets	and	liabilities	(net	interest	margin)	
or	directly	through	valuation	changes	of	capitalized	MSR	and/or	trading	assets	(noninterest	income);	
or	directly	through	valuation	changes	of	capitalized	MSR	and/or	trading	assets	(noninterest	income);	

•
•

Liquidity	risk,	which	is	the	risk	to	current	or	anticipated	earnings	or	capital	arising	from	an	inability	to	meet	
Liquidity	risk,	which	is	the	risk	to	current	or	anticipated	earnings	or	capital	arising	from	an	inability	to	meet	
obligations	when	they	come	due.		Liquidity	risk	includes	the	inability	to	access	funding	sources	or	manage	
obligations	when	they	come	due.		Liquidity	risk	includes	the	inability	to	access	funding	sources	or	manage	
fluctuations	in	funding	levels.		Liquidity	risk	also	results	from	the	failure	to	recognize	or	address	changes	in	
fluctuations	in	funding	levels.		Liquidity	risk	also	results	from	the	failure	to	recognize	or	address	changes	in	
market	conditions	that	affect	our	ability	to	liquidate	assets	quickly	and	with	minimal	loss	in	value;	
market	conditions	that	affect	our	ability	to	liquidate	assets	quickly	and	with	minimal	loss	in	value;	

• Operational	risk,	which	is	the	risk	of	loss	arising	from	inadequate	or	failed	internal	processes	or	systems,	
• Operational	risk,	which	is	the	risk	of	loss	arising	from	inadequate	or	failed	internal	processes	or	systems,	
including	information	security	breaches	or	cyberattacks,	human	errors	or	misconduct,	or	adverse	external	
including	information	security	breaches	or	cyberattacks,	human	errors	or	misconduct,	or	adverse	external	
events.		Operational	losses	result	from	internal	fraud,	external	fraud,	inadequate	or	inappropriate	
events.		Operational	losses	result	from	internal	fraud,	external	fraud,	inadequate	or	inappropriate	
employment	practices	and	workplace	safety,	failure	to	meet	professional	obligations	involving	customers,	
employment	practices	and	workplace	safety,	failure	to	meet	professional	obligations	involving	customers,	
products,	and	business	practices,	damage	to	physical	assets,	business	disruption	and	systems	failures,	and	
products,	and	business	practices,	damage	to	physical	assets,	business	disruption	and	systems	failures,	and	
failures	in	execution,	delivery,	and	process	management;
failures	in	execution,	delivery,	and	process	management;

•
•

•
•

Compliance	risk,	which	exposes	us	to	money	penalties,	enforcement	actions,	or	other	sanctions	as	a	result	
Compliance	risk,	which	exposes	us	to	money	penalties,	enforcement	actions,	or	other	sanctions	as	a	result	
of	non-conformance	with	laws,	rules,	and	regulations	that	apply	to	the	financial	services	industry;
of	non-conformance	with	laws,	rules,	and	regulations	that	apply	to	the	financial	services	industry;

Strategic	risk,	which	is	defined	as	risk	to	current	or	anticipated	earnings,	capital,	or	enterprise	value	arising	
Strategic	risk,	which	is	defined	as	risk	to	current	or	anticipated	earnings,	capital,	or	enterprise	value	arising	
from	adverse	business	decisions,	improper	implementation	of	business	decisions	or	lack	of	responsiveness	
from	adverse	business	decisions,	improper	implementation	of	business	decisions	or	lack	of	responsiveness	
to	industry	/	market	changes;	and		
to	industry	/	market	changes;	and		

whether	true	or	not,	will	cause	a	decline	in	the	customer	base,	costly	litigation,	or	revenue	reductions.

whether	true	or	not,	will	cause	a	decline	in	the	customer	base,	costly	litigation,	or	revenue	reductions.

In	addition	to	the	other	information	included	or	incorporated	by	reference	into	this	report,	readers	should	

In	addition	to	the	other	information	included	or	incorporated	by	reference	into	this	report,	readers	should	

carefully	consider	that	the	following	important	factors,	among	others,	could	negatively	impact	our	business,	future	

carefully	consider	that	the	following	important	factors,	among	others,	could	negatively	impact	our	business,	future	

results	of	operations,	and	future	cash	flows	materially.

results	of	operations,	and	future	cash	flows	materially.

COVID-19	related	Risk:	

COVID-19	related	Risk:	

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	financial	

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	financial	

condition,	liquidity,	and	results	of	operations.	

condition,	liquidity,	and	results	of	operations.	

The	COVID-19	pandemic	has	negatively	impacted	the	U.S.	and	global	economy;	disrupted	U.S.	and	global	supply	

The	COVID-19	pandemic	has	negatively	impacted	the	U.S.	and	global	economy;	disrupted	U.S.	and	global	supply	

chains;	created	significant	volatility	and	disruption	in	financial	markets;	contributed	to	a	decrease	in	the	rates	and	

chains;	created	significant	volatility	and	disruption	in	financial	markets;	contributed	to	a	decrease	in	the	rates	and	

yields	on	U.S.	Treasury	securities;	resulted	in	ratings	downgrades,	credit	deterioration,	and	defaults	in	many	

yields	on	U.S.	Treasury	securities;	resulted	in	ratings	downgrades,	credit	deterioration,	and	defaults	in	many	

industries;	increased	demands	on	capital	and	liquidity;	and	increased	unemployment	levels	and	decreased	consumer	

industries;	increased	demands	on	capital	and	liquidity;	and	increased	unemployment	levels	and	decreased	consumer	

confidence.		In	addition,	the	pandemic	has	resulted	in	temporary	closures	of	many	businesses	and	the	institution	of	

confidence.		In	addition,	the	pandemic	has	resulted	in	temporary	closures	of	many	businesses	and	the	institution	of	

social	distancing	and	sheltering	in	place	requirements	in	many	states	and	communities,	including	those	in	our	

social	distancing	and	sheltering	in	place	requirements	in	many	states	and	communities,	including	those	in	our	

footprint.		The	pandemic	has	caused	us,	and	could	continue	to	cause	us,	to	recognize	credit	losses	in	our	loan	

footprint.		The	pandemic	has	caused	us,	and	could	continue	to	cause	us,	to	recognize	credit	losses	in	our	loan	

portfolios	and	increases	in	our	allowance	for	credit	losses.		Furthermore,	the	pandemic	could	cause	us	to	recognize	

portfolios	and	increases	in	our	allowance	for	credit	losses.		Furthermore,	the	pandemic	could	cause	us	to	recognize	

impairment	of	our	goodwill	and	our	financial	assets.		Sustained	adverse	effects	may	also	increase	our	cost	of	capital,	

impairment	of	our	goodwill	and	our	financial	assets.		Sustained	adverse	effects	may	also	increase	our	cost	of	capital,	

prevent	us	from	satisfying	our	minimum	regulatory	capital	ratios	and	other	supervisory	requirements,	or	result	in	

prevent	us	from	satisfying	our	minimum	regulatory	capital	ratios	and	other	supervisory	requirements,	or	result	in	

downgrades	in	our	credit	ratings.		The	extent	to	which	the	COVID-19	pandemic	impacts	our	business,	financial	

downgrades	in	our	credit	ratings.		The	extent	to	which	the	COVID-19	pandemic	impacts	our	business,	financial	

condition,	liquidity,	and	results	of	operations	will	depend	on	future	developments,	which	are	highly	uncertain	and	

condition,	liquidity,	and	results	of	operations	will	depend	on	future	developments,	which	are	highly	uncertain	and	

cannot	be	predicted,	including	the	scope	and	duration	of	the	pandemic,	the	continued	effectiveness	of	our	business	

cannot	be	predicted,	including	the	scope	and	duration	of	the	pandemic,	the	continued	effectiveness	of	our	business	

continuity	plan,	the	direct	and	indirect	impact	of	the	pandemic	on	our	customers,	colleagues,	counterparties	and	

continuity	plan,	the	direct	and	indirect	impact	of	the	pandemic	on	our	customers,	colleagues,	counterparties	and	

service	providers,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	

service	providers,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	

pandemic.

pandemic.

conditions.		

conditions.		

Governmental	authorities	have	taken	significant	measures	to	provide	economic	assistance	to	individual	

Governmental	authorities	have	taken	significant	measures	to	provide	economic	assistance	to	individual	

households	and	businesses,	stabilize	the	markets,	and	support	economic	growth.		The	success	of	these	measures	is	

households	and	businesses,	stabilize	the	markets,	and	support	economic	growth.		The	success	of	these	measures	is	

unknown,	and	they	may	not	be	sufficient	to	fully	mitigate	the	negative	impact	of	the	pandemic.		Additionally,	some	

unknown,	and	they	may	not	be	sufficient	to	fully	mitigate	the	negative	impact	of	the	pandemic.		Additionally,	some	

measures,	such	as	a	suspension	of	consumer	and	commercial	loan	payments	and	the	reduction	in	interest	rates	to	

measures,	such	as	a	suspension	of	consumer	and	commercial	loan	payments	and	the	reduction	in	interest	rates	to	

near	zero,	may	have	a	negative	impact	on	our	business,	financial	condition,	liquidity,	and	results	of	operations.		We	

near	zero,	may	have	a	negative	impact	on	our	business,	financial	condition,	liquidity,	and	results	of	operations.		We	

also	face	an	increased	risk	of	litigation	and	governmental	and	regulatory	scrutiny	as	a	result	of	the	effects	of	the	

also	face	an	increased	risk	of	litigation	and	governmental	and	regulatory	scrutiny	as	a	result	of	the	effects	of	the	

pandemic	on	market	and	economic	conditions	and	actions	governmental	authorities	take	in	response	to	those	

pandemic	on	market	and	economic	conditions	and	actions	governmental	authorities	take	in	response	to	those	

The	COVID-19	pandemic	has	resulted	in	heightened	operational	risks.		Many	of	our	colleagues	have	been	

The	COVID-19	pandemic	has	resulted	in	heightened	operational	risks.		Many	of	our	colleagues	have	been	

working	remotely,	and	increased	levels	of	remote	access	create	additional	cybersecurity	risk	and	opportunities	for	

working	remotely,	and	increased	levels	of	remote	access	create	additional	cybersecurity	risk	and	opportunities	for	

cybercriminals	to	exploit	vulnerabilities.		Cybercriminals	may	increase	their	attempts	to	compromise	business	

cybercriminals	to	exploit	vulnerabilities.		Cybercriminals	may	increase	their	attempts	to	compromise	business	

emails,	including	an	increase	in	phishing	attempts,	and	fraudulent	vendors	or	other	parties	may	view	the	pandemic	

emails,	including	an	increase	in	phishing	attempts,	and	fraudulent	vendors	or	other	parties	may	view	the	pandemic	

as	an	opportunity	to	prey	upon	consumers	and	businesses	during	this	time.		The	increase	in	online	and	remote	

as	an	opportunity	to	prey	upon	consumers	and	businesses	during	this	time.		The	increase	in	online	and	remote	

banking	activities	may	also	increase	the	risk	of	fraud	in	certain	instances.

banking	activities	may	also	increase	the	risk	of	fraud	in	certain	instances.

The	length	of	the	pandemic	and	the	effectiveness	of	the	measures	being	put	in	place	to	address	it	are	unknown.		

The	length	of	the	pandemic	and	the	effectiveness	of	the	measures	being	put	in	place	to	address	it	are	unknown.		

Until	the	effects	of	the	pandemic	subside,	we	expect	continued	draws	on	lines	of	credit,	reduced	revenues	in	our	

Until	the	effects	of	the	pandemic	subside,	we	expect	continued	draws	on	lines	of	credit,	reduced	revenues	in	our	

businesses,	and	increased	customer	defaults.		Furthermore,	the	U.S.	economy	is	experiencing	a	recession	as	a	result	

businesses,	and	increased	customer	defaults.		Furthermore,	the	U.S.	economy	is	experiencing	a	recession	as	a	result	

of	the	pandemic,	and	our	business	could	be	materially	and	adversely	affected	by	a	prolonged	recession.		To	the	

of	the	pandemic,	and	our	business	could	be	materially	and	adversely	affected	by	a	prolonged	recession.		To	the	

extent	the	pandemic	adversely	affects	our	business,	financial	condition,	liquidity,	or	results	of	operations,	it	may	also	

extent	the	pandemic	adversely	affects	our	business,	financial	condition,	liquidity,	or	results	of	operations,	it	may	also	

have	the	effect	of	heightening	many	of	the	other	risks	described	in	this	2020	Annual	Report	on	Form	10-K.

have	the	effect	of	heightening	many	of	the	other	risks	described	in	this	2020	Annual	Report	on	Form	10-K.

We	have	also	participated	as	a	lender	in	certain	government	programs	designed	to	provide	economic	relief	in	

We	have	also	participated	as	a	lender	in	certain	government	programs	designed	to	provide	economic	relief	in	

response	to	the	pandemic.		We	are	participating	in	the	SBA’s	PPP	as	an	eligible	lender,	and	while	these	loans	to	small	

response	to	the	pandemic.		We	are	participating	in	the	SBA’s	PPP	as	an	eligible	lender,	and	while	these	loans	to	small	

business	clients	benefit	from	a	government	guaranty,	many	of	these	businesses	may	face	difficulties	even	after	being	

business	clients	benefit	from	a	government	guaranty,	many	of	these	businesses	may	face	difficulties	even	after	being	

granted	such	a	loan.		We	also	participated	in	the	Federal	Reserve’s	Main	Street	Lending	Program.		As	a	result	of	

granted	such	a	loan.		We	also	participated	in	the	Federal	Reserve’s	Main	Street	Lending	Program.		As	a	result	of	

participating	in	these	programs,	we	face	increased	risks,	including	credit,	fraud	risk	and	litigation.

participating	in	these	programs,	we	face	increased	risks,	including	credit,	fraud	risk	and	litigation.

26					Huntington	Bancshares	Incorporated
26					Huntington	Bancshares	Incorporated

2020	Form	10-K					27

2020	Form	10-K					27

• Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	

• Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	

cause	us	material	financial	loss

cause	us	material	financial	loss

Strategic	Risks:	

Strategic	Risks:	

• We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	

• We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	

strategic	plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	

strategic	plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	

preferences.		

preferences.		

•

•

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	

capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	

capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	

regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-

regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-

effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

Risks	related	to	the	TCF	Merger:

Risks	related	to	the	TCF	Merger:

• We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

• We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

•

•

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	

Huntington	and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.

Huntington	and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.

• Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	

• Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	

pending.	

pending.	

Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors

Detailed	Discussion	of	Risk	Pillars	and	Risk	Factors

Huntington	has	formalized	a	holistic	risk	governance	framework	in	alignment	with	the	size,	complexity,	and	

Huntington	has	formalized	a	holistic	risk	governance	framework	in	alignment	with	the	size,	complexity,	and	

profile	of	the	Company.		We,	like	other	financial	companies,	are	subject	to	a	number	of	risks	that	may	adversely	

profile	of	the	Company.		We,	like	other	financial	companies,	are	subject	to	a	number	of	risks	that	may	adversely	

affect	our	financial	condition	or	results	of	operations,	many	of	which	are	outside	of	our	direct	control.		Our	

affect	our	financial	condition	or	results	of	operations,	many	of	which	are	outside	of	our	direct	control.		Our	

framework	is	approved	by	the	ROC	of	Huntington’s	Board	of	Directors	(the	Board).		Key	components	include	

framework	is	approved	by	the	ROC	of	Huntington’s	Board	of	Directors	(the	Board).		Key	components	include	

establishing	our	risk	appetite,	lines	of	defense	and	risk	pillars,	governance	and	committee	oversight	and	limit	setting	

establishing	our	risk	appetite,	lines	of	defense	and	risk	pillars,	governance	and	committee	oversight	and	limit	setting	

and	escalation	processes.		Huntington	classifies/aggregates	risk	into	seven	risk	pillars.		Huntington	recognizes	that	

and	escalation	processes.		Huntington	classifies/aggregates	risk	into	seven	risk	pillars.		Huntington	recognizes	that	

risks	can	be	interrelated	or	embedded	within	each	other,	and	therefore	managing	across	risk	pillars	is	a	key	

risks	can	be	interrelated	or	embedded	within	each	other,	and	therefore	managing	across	risk	pillars	is	a	key	

component	of	the	framework.		The	following	defines	the	Company’s	risk	pillars.

component	of	the	framework.		The	following	defines	the	Company’s	risk	pillars.

•

•

Credit	risk,	which	is	the	risk	of	loss	due	to	loan	and	lease	customers	or	other	counterparties	not	being	able	

Credit	risk,	which	is	the	risk	of	loss	due	to	loan	and	lease	customers	or	other	counterparties	not	being	able	

to	meet	their	financial	obligations	under	agreed	upon	terms;	

to	meet	their	financial	obligations	under	agreed	upon	terms;	

• Market	risk,	which	occurs	when	fluctuations	in	interest	rates	impact	earnings	and	capital.		Financial	impacts	

• Market	risk,	which	occurs	when	fluctuations	in	interest	rates	impact	earnings	and	capital.		Financial	impacts	

are	realized	through	changes	in	the	interest	rates	of	balance	sheet	assets	and	liabilities	(net	interest	margin)	

are	realized	through	changes	in	the	interest	rates	of	balance	sheet	assets	and	liabilities	(net	interest	margin)	

or	directly	through	valuation	changes	of	capitalized	MSR	and/or	trading	assets	(noninterest	income);	

or	directly	through	valuation	changes	of	capitalized	MSR	and/or	trading	assets	(noninterest	income);	

•

•

Liquidity	risk,	which	is	the	risk	to	current	or	anticipated	earnings	or	capital	arising	from	an	inability	to	meet	

Liquidity	risk,	which	is	the	risk	to	current	or	anticipated	earnings	or	capital	arising	from	an	inability	to	meet	

obligations	when	they	come	due.		Liquidity	risk	includes	the	inability	to	access	funding	sources	or	manage	

obligations	when	they	come	due.		Liquidity	risk	includes	the	inability	to	access	funding	sources	or	manage	

fluctuations	in	funding	levels.		Liquidity	risk	also	results	from	the	failure	to	recognize	or	address	changes	in	

fluctuations	in	funding	levels.		Liquidity	risk	also	results	from	the	failure	to	recognize	or	address	changes	in	

market	conditions	that	affect	our	ability	to	liquidate	assets	quickly	and	with	minimal	loss	in	value;	

market	conditions	that	affect	our	ability	to	liquidate	assets	quickly	and	with	minimal	loss	in	value;	

• Operational	risk,	which	is	the	risk	of	loss	arising	from	inadequate	or	failed	internal	processes	or	systems,	

• Operational	risk,	which	is	the	risk	of	loss	arising	from	inadequate	or	failed	internal	processes	or	systems,	

including	information	security	breaches	or	cyberattacks,	human	errors	or	misconduct,	or	adverse	external	

including	information	security	breaches	or	cyberattacks,	human	errors	or	misconduct,	or	adverse	external	

events.		Operational	losses	result	from	internal	fraud,	external	fraud,	inadequate	or	inappropriate	

events.		Operational	losses	result	from	internal	fraud,	external	fraud,	inadequate	or	inappropriate	

employment	practices	and	workplace	safety,	failure	to	meet	professional	obligations	involving	customers,	

employment	practices	and	workplace	safety,	failure	to	meet	professional	obligations	involving	customers,	

products,	and	business	practices,	damage	to	physical	assets,	business	disruption	and	systems	failures,	and	

products,	and	business	practices,	damage	to	physical	assets,	business	disruption	and	systems	failures,	and	

failures	in	execution,	delivery,	and	process	management;

failures	in	execution,	delivery,	and	process	management;

•

•

•

•

Compliance	risk,	which	exposes	us	to	money	penalties,	enforcement	actions,	or	other	sanctions	as	a	result	

Compliance	risk,	which	exposes	us	to	money	penalties,	enforcement	actions,	or	other	sanctions	as	a	result	

of	non-conformance	with	laws,	rules,	and	regulations	that	apply	to	the	financial	services	industry;

of	non-conformance	with	laws,	rules,	and	regulations	that	apply	to	the	financial	services	industry;

Strategic	risk,	which	is	defined	as	risk	to	current	or	anticipated	earnings,	capital,	or	enterprise	value	arising	

Strategic	risk,	which	is	defined	as	risk	to	current	or	anticipated	earnings,	capital,	or	enterprise	value	arising	

from	adverse	business	decisions,	improper	implementation	of	business	decisions	or	lack	of	responsiveness	

from	adverse	business	decisions,	improper	implementation	of	business	decisions	or	lack	of	responsiveness	

to	industry	/	market	changes;	and		

to	industry	/	market	changes;	and		

•
•

Reputation	risk,	which	is	the	risk	that	negative	publicity	regarding	an	institution’s	business	practices,	
Reputation	risk,	which	is	the	risk	that	negative	publicity	regarding	an	institution’s	business	practices,	
whether	true	or	not,	will	cause	a	decline	in	the	customer	base,	costly	litigation,	or	revenue	reductions.
whether	true	or	not,	will	cause	a	decline	in	the	customer	base,	costly	litigation,	or	revenue	reductions.

In	addition	to	the	other	information	included	or	incorporated	by	reference	into	this	report,	readers	should	
In	addition	to	the	other	information	included	or	incorporated	by	reference	into	this	report,	readers	should	
carefully	consider	that	the	following	important	factors,	among	others,	could	negatively	impact	our	business,	future	
carefully	consider	that	the	following	important	factors,	among	others,	could	negatively	impact	our	business,	future	
results	of	operations,	and	future	cash	flows	materially.
results	of	operations,	and	future	cash	flows	materially.

COVID-19	related	Risk:	
COVID-19	related	Risk:	

The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	financial	
The	COVID-19	pandemic	is	adversely	affecting,	and	will	likely	continue	to	adversely	affect,	our	business,	financial	
condition,	liquidity,	and	results	of	operations.	
condition,	liquidity,	and	results	of	operations.	

The	COVID-19	pandemic	has	negatively	impacted	the	U.S.	and	global	economy;	disrupted	U.S.	and	global	supply	
The	COVID-19	pandemic	has	negatively	impacted	the	U.S.	and	global	economy;	disrupted	U.S.	and	global	supply	

chains;	created	significant	volatility	and	disruption	in	financial	markets;	contributed	to	a	decrease	in	the	rates	and	
chains;	created	significant	volatility	and	disruption	in	financial	markets;	contributed	to	a	decrease	in	the	rates	and	
yields	on	U.S.	Treasury	securities;	resulted	in	ratings	downgrades,	credit	deterioration,	and	defaults	in	many	
yields	on	U.S.	Treasury	securities;	resulted	in	ratings	downgrades,	credit	deterioration,	and	defaults	in	many	
industries;	increased	demands	on	capital	and	liquidity;	and	increased	unemployment	levels	and	decreased	consumer	
industries;	increased	demands	on	capital	and	liquidity;	and	increased	unemployment	levels	and	decreased	consumer	
confidence.		In	addition,	the	pandemic	has	resulted	in	temporary	closures	of	many	businesses	and	the	institution	of	
confidence.		In	addition,	the	pandemic	has	resulted	in	temporary	closures	of	many	businesses	and	the	institution	of	
social	distancing	and	sheltering	in	place	requirements	in	many	states	and	communities,	including	those	in	our	
social	distancing	and	sheltering	in	place	requirements	in	many	states	and	communities,	including	those	in	our	
footprint.		The	pandemic	has	caused	us,	and	could	continue	to	cause	us,	to	recognize	credit	losses	in	our	loan	
footprint.		The	pandemic	has	caused	us,	and	could	continue	to	cause	us,	to	recognize	credit	losses	in	our	loan	
portfolios	and	increases	in	our	allowance	for	credit	losses.		Furthermore,	the	pandemic	could	cause	us	to	recognize	
portfolios	and	increases	in	our	allowance	for	credit	losses.		Furthermore,	the	pandemic	could	cause	us	to	recognize	
impairment	of	our	goodwill	and	our	financial	assets.		Sustained	adverse	effects	may	also	increase	our	cost	of	capital,	
impairment	of	our	goodwill	and	our	financial	assets.		Sustained	adverse	effects	may	also	increase	our	cost	of	capital,	
prevent	us	from	satisfying	our	minimum	regulatory	capital	ratios	and	other	supervisory	requirements,	or	result	in	
prevent	us	from	satisfying	our	minimum	regulatory	capital	ratios	and	other	supervisory	requirements,	or	result	in	
downgrades	in	our	credit	ratings.		The	extent	to	which	the	COVID-19	pandemic	impacts	our	business,	financial	
downgrades	in	our	credit	ratings.		The	extent	to	which	the	COVID-19	pandemic	impacts	our	business,	financial	
condition,	liquidity,	and	results	of	operations	will	depend	on	future	developments,	which	are	highly	uncertain	and	
condition,	liquidity,	and	results	of	operations	will	depend	on	future	developments,	which	are	highly	uncertain	and	
cannot	be	predicted,	including	the	scope	and	duration	of	the	pandemic,	the	continued	effectiveness	of	our	business	
cannot	be	predicted,	including	the	scope	and	duration	of	the	pandemic,	the	continued	effectiveness	of	our	business	
continuity	plan,	the	direct	and	indirect	impact	of	the	pandemic	on	our	customers,	colleagues,	counterparties	and	
continuity	plan,	the	direct	and	indirect	impact	of	the	pandemic	on	our	customers,	colleagues,	counterparties	and	
service	providers,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	
service	providers,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	
pandemic.
pandemic.

Governmental	authorities	have	taken	significant	measures	to	provide	economic	assistance	to	individual	
Governmental	authorities	have	taken	significant	measures	to	provide	economic	assistance	to	individual	

households	and	businesses,	stabilize	the	markets,	and	support	economic	growth.		The	success	of	these	measures	is	
households	and	businesses,	stabilize	the	markets,	and	support	economic	growth.		The	success	of	these	measures	is	
unknown,	and	they	may	not	be	sufficient	to	fully	mitigate	the	negative	impact	of	the	pandemic.		Additionally,	some	
unknown,	and	they	may	not	be	sufficient	to	fully	mitigate	the	negative	impact	of	the	pandemic.		Additionally,	some	
measures,	such	as	a	suspension	of	consumer	and	commercial	loan	payments	and	the	reduction	in	interest	rates	to	
measures,	such	as	a	suspension	of	consumer	and	commercial	loan	payments	and	the	reduction	in	interest	rates	to	
near	zero,	may	have	a	negative	impact	on	our	business,	financial	condition,	liquidity,	and	results	of	operations.		We	
near	zero,	may	have	a	negative	impact	on	our	business,	financial	condition,	liquidity,	and	results	of	operations.		We	
also	face	an	increased	risk	of	litigation	and	governmental	and	regulatory	scrutiny	as	a	result	of	the	effects	of	the	
also	face	an	increased	risk	of	litigation	and	governmental	and	regulatory	scrutiny	as	a	result	of	the	effects	of	the	
pandemic	on	market	and	economic	conditions	and	actions	governmental	authorities	take	in	response	to	those	
pandemic	on	market	and	economic	conditions	and	actions	governmental	authorities	take	in	response	to	those	
conditions.		
conditions.		

The	COVID-19	pandemic	has	resulted	in	heightened	operational	risks.		Many	of	our	colleagues	have	been	
The	COVID-19	pandemic	has	resulted	in	heightened	operational	risks.		Many	of	our	colleagues	have	been	
working	remotely,	and	increased	levels	of	remote	access	create	additional	cybersecurity	risk	and	opportunities	for	
working	remotely,	and	increased	levels	of	remote	access	create	additional	cybersecurity	risk	and	opportunities	for	
cybercriminals	to	exploit	vulnerabilities.		Cybercriminals	may	increase	their	attempts	to	compromise	business	
cybercriminals	to	exploit	vulnerabilities.		Cybercriminals	may	increase	their	attempts	to	compromise	business	
emails,	including	an	increase	in	phishing	attempts,	and	fraudulent	vendors	or	other	parties	may	view	the	pandemic	
emails,	including	an	increase	in	phishing	attempts,	and	fraudulent	vendors	or	other	parties	may	view	the	pandemic	
as	an	opportunity	to	prey	upon	consumers	and	businesses	during	this	time.		The	increase	in	online	and	remote	
as	an	opportunity	to	prey	upon	consumers	and	businesses	during	this	time.		The	increase	in	online	and	remote	
banking	activities	may	also	increase	the	risk	of	fraud	in	certain	instances.
banking	activities	may	also	increase	the	risk	of	fraud	in	certain	instances.

The	length	of	the	pandemic	and	the	effectiveness	of	the	measures	being	put	in	place	to	address	it	are	unknown.		
The	length	of	the	pandemic	and	the	effectiveness	of	the	measures	being	put	in	place	to	address	it	are	unknown.		

Until	the	effects	of	the	pandemic	subside,	we	expect	continued	draws	on	lines	of	credit,	reduced	revenues	in	our	
Until	the	effects	of	the	pandemic	subside,	we	expect	continued	draws	on	lines	of	credit,	reduced	revenues	in	our	
businesses,	and	increased	customer	defaults.		Furthermore,	the	U.S.	economy	is	experiencing	a	recession	as	a	result	
businesses,	and	increased	customer	defaults.		Furthermore,	the	U.S.	economy	is	experiencing	a	recession	as	a	result	
of	the	pandemic,	and	our	business	could	be	materially	and	adversely	affected	by	a	prolonged	recession.		To	the	
of	the	pandemic,	and	our	business	could	be	materially	and	adversely	affected	by	a	prolonged	recession.		To	the	
extent	the	pandemic	adversely	affects	our	business,	financial	condition,	liquidity,	or	results	of	operations,	it	may	also	
extent	the	pandemic	adversely	affects	our	business,	financial	condition,	liquidity,	or	results	of	operations,	it	may	also	
have	the	effect	of	heightening	many	of	the	other	risks	described	in	this	2020	Annual	Report	on	Form	10-K.
have	the	effect	of	heightening	many	of	the	other	risks	described	in	this	2020	Annual	Report	on	Form	10-K.

We	have	also	participated	as	a	lender	in	certain	government	programs	designed	to	provide	economic	relief	in	
We	have	also	participated	as	a	lender	in	certain	government	programs	designed	to	provide	economic	relief	in	
response	to	the	pandemic.		We	are	participating	in	the	SBA’s	PPP	as	an	eligible	lender,	and	while	these	loans	to	small	
response	to	the	pandemic.		We	are	participating	in	the	SBA’s	PPP	as	an	eligible	lender,	and	while	these	loans	to	small	
business	clients	benefit	from	a	government	guaranty,	many	of	these	businesses	may	face	difficulties	even	after	being	
business	clients	benefit	from	a	government	guaranty,	many	of	these	businesses	may	face	difficulties	even	after	being	
granted	such	a	loan.		We	also	participated	in	the	Federal	Reserve’s	Main	Street	Lending	Program.		As	a	result	of	
granted	such	a	loan.		We	also	participated	in	the	Federal	Reserve’s	Main	Street	Lending	Program.		As	a	result	of	
participating	in	these	programs,	we	face	increased	risks,	including	credit,	fraud	risk	and	litigation.
participating	in	these	programs,	we	face	increased	risks,	including	credit,	fraud	risk	and	litigation.

26					Huntington	Bancshares	Incorporated

26					Huntington	Bancshares	Incorporated

2020	Form	10-K					27
2020	Form	10-K					27

Credit	Risks:
Credit	Risks:

Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	
Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	
adversely	affect	our	net	income	and	capital.
adversely	affect	our	net	income	and	capital.

Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	
Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	

326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	
326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	
implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio	which	incorporated	historical	loss	
implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio	which	incorporated	historical	loss	
experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	
experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	
balance	sheet	date.		The	models	materially	affected	how	we	determine	our	ACL	and	report	our	financial	condition	
balance	sheet	date.		The	models	materially	affected	how	we	determine	our	ACL	and	report	our	financial	condition	
and	results	of	operations.		For	further	discussion,	see	Note	2	“Accounting	Standards	Update”	of	the	Notes	to	
and	results	of	operations.		For	further	discussion,	see	Note	2	“Accounting	Standards	Update”	of	the	Notes	to	
Consolidated	Financial	Statements.
Consolidated	Financial	Statements.

Our	business	depends	on	the	creditworthiness	of	our	customers.		Our	ACL	of	$1.9	billion	at	December	31,	2020,	
Our	business	depends	on	the	creditworthiness	of	our	customers.		Our	ACL	of	$1.9	billion	at	December	31,	2020,	

represented	management’s	estimate	of	the	current	expected	losses	in	our	loan	and	lease	portfolio	(ALLL)	as	well	as	
represented	management’s	estimate	of	the	current	expected	losses	in	our	loan	and	lease	portfolio	(ALLL)	as	well	as	
our	unfunded	loan	commitments	and	letters	of	credit	(AULC).		We	regularly	review	our	ACL	for	appropriateness.		In	
our	unfunded	loan	commitments	and	letters	of	credit	(AULC).		We	regularly	review	our	ACL	for	appropriateness.		In	
doing	so,	we	consider	probability	of	default,	loss	given	default	and	exposure	at	default	depending	on	economic	
doing	so,	we	consider	probability	of	default,	loss	given	default	and	exposure	at	default	depending	on	economic	
parameters	for	each	month	of	the	remaining	contractual	term	of	the	credit	exposure.		The	economic	parameters	are	
parameters	for	each	month	of	the	remaining	contractual	term	of	the	credit	exposure.		The	economic	parameters	are	
developed	using	available	information	relating	to	past	events,	current	conditions,	and	reasonable	and	supportable	
developed	using	available	information	relating	to	past	events,	current	conditions,	and	reasonable	and	supportable	
forecasts.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	lifetime	losses	of	the	portfolio	
forecasts.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	lifetime	losses	of	the	portfolio	
because	of	unanticipated	adverse	changes	in	the	economy,	market	conditions,	or	events	adversely	affecting	specific	
because	of	unanticipated	adverse	changes	in	the	economy,	market	conditions,	or	events	adversely	affecting	specific	
customers,	industries,	or	markets.		If	the	credit	quality	of	our	customer	base	materially	decreases,	if	the	risk	profile	
customers,	industries,	or	markets.		If	the	credit	quality	of	our	customer	base	materially	decreases,	if	the	risk	profile	
of	a	market,	industry,	or	group	of	customers	changes	materially,	or	if	the	ACL	is	not	appropriate,	our	net	income	and	
of	a	market,	industry,	or	group	of	customers	changes	materially,	or	if	the	ACL	is	not	appropriate,	our	net	income	and	
capital	could	be	materially	adversely	affected,	which	could	have	a	material	adverse	effect	on	our	financial	condition	
capital	could	be	materially	adversely	affected,	which	could	have	a	material	adverse	effect	on	our	financial	condition	
and	results	of	operations.
and	results	of	operations.

In	addition,	regulatory	review	of	risk	ratings	and	loan	and	lease	losses	may	impact	the	level	of	the	ACL	and	
In	addition,	regulatory	review	of	risk	ratings	and	loan	and	lease	losses	may	impact	the	level	of	the	ACL	and	

could	have	a	material	adverse	effect	on	our	financial	condition	and	results	of	operations.
could	have	a	material	adverse	effect	on	our	financial	condition	and	results	of	operations.

Weakness	in	economic	conditions	could	adversely	affect	our	business.
Weakness	in	economic	conditions	could	adversely	affect	our	business.

Our	performance	could	be	negatively	affected	to	the	extent	there	is	deterioration	in	business	and	economic	
Our	performance	could	be	negatively	affected	to	the	extent	there	is	deterioration	in	business	and	economic	
conditions	which	have	direct	or	indirect	material	adverse	impacts	on	us,	our	customers,	and	our	counterparties.		
conditions	which	have	direct	or	indirect	material	adverse	impacts	on	us,	our	customers,	and	our	counterparties.		
These	conditions	could	result	in	one	or	more	of	the	following:
These	conditions	could	result	in	one	or	more	of	the	following:

• A	decrease	in	the	demand	for	loans	and	other	products	and	services	offered	by	us;
• A	decrease	in	the	demand	for	loans	and	other	products	and	services	offered	by	us;
• A	decrease	in	customer	savings	generally	and	in	the	demand	for	savings	and	investment	products	offered	by	
• A	decrease	in	customer	savings	generally	and	in	the	demand	for	savings	and	investment	products	offered	by	

us;	and
us;	and

• An	increase	in	the	number	of	customers	and	counterparties	who	become	delinquent,	file	for	protection	
• An	increase	in	the	number	of	customers	and	counterparties	who	become	delinquent,	file	for	protection	

occurrence	would	likely	further	reduce	the	interest	we	earn	on	loans	and	other	earning	assets,	while	also	likely	

occurrence	would	likely	further	reduce	the	interest	we	earn	on	loans	and	other	earning	assets,	while	also	likely	

under	bankruptcy	laws,	or	default	on	their	loans	or	other	obligations	to	us.
under	bankruptcy	laws,	or	default	on	their	loans	or	other	obligations	to	us.

An	increase	in	the	number	of	delinquencies,	bankruptcies,	or	defaults	could	result	in	a	higher	level	of	NPAs,	
An	increase	in	the	number	of	delinquencies,	bankruptcies,	or	defaults	could	result	in	a	higher	level	of	NPAs,	

NCOs,	provision	for	credit	losses,	and	valuation	adjustments	on	loans	held	for	sale.		The	markets	we	serve	are	
NCOs,	provision	for	credit	losses,	and	valuation	adjustments	on	loans	held	for	sale.		The	markets	we	serve	are	
dependent	on	industrial	and	manufacturing	businesses	and,	thus,	are	particularly	vulnerable	to	adverse	changes	in	
dependent	on	industrial	and	manufacturing	businesses	and,	thus,	are	particularly	vulnerable	to	adverse	changes	in	
economic	conditions	affecting	these	sectors.
economic	conditions	affecting	these	sectors.

Market	Risks:
Market	Risks:

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	
Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	
impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	flows,	
impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	flows,	
financial	condition,	results	of	operations,	and	capital.
financial	condition,	results	of	operations,	and	capital.

Our	results	of	operations	depend	substantially	on	net	interest	income,	which	is	the	difference	between	interest	
Our	results	of	operations	depend	substantially	on	net	interest	income,	which	is	the	difference	between	interest	

earned	on	interest	earning	assets	(such	as	investments	and	loans)	and	interest	paid	on	interest	bearing	liabilities	
earned	on	interest	earning	assets	(such	as	investments	and	loans)	and	interest	paid	on	interest	bearing	liabilities	
(such	as	deposits	and	borrowings).		Interest	rates	are	highly	sensitive	to	many	factors,	including	governmental	
(such	as	deposits	and	borrowings).		Interest	rates	are	highly	sensitive	to	many	factors,	including	governmental	
monetary	policies	and	domestic	and	international	economic	and	political	conditions.		Conditions	such	as	inflation,	
monetary	policies	and	domestic	and	international	economic	and	political	conditions.		Conditions	such	as	inflation,	
deflation,	recession,	unemployment,	money	supply,	and	other	factors	beyond	our	control	may	also	affect	interest	
deflation,	recession,	unemployment,	money	supply,	and	other	factors	beyond	our	control	may	also	affect	interest	
rates.		In	addition,	decisions	by	the	Federal	Reserve	to	increase	or	reduce	the	size	of	its	balance	sheet	may	also	affect	
rates.		In	addition,	decisions	by	the	Federal	Reserve	to	increase	or	reduce	the	size	of	its	balance	sheet	may	also	affect	

28					Huntington	Bancshares	Incorporated
28					Huntington	Bancshares	Incorporated

2020	Form	10-K					29

2020	Form	10-K					29

interest	rates.		If	our	interest	earning	assets	mature	or	reprice	faster	than	interest	bearing	liabilities	in	a	declining	

interest	rates.		If	our	interest	earning	assets	mature	or	reprice	faster	than	interest	bearing	liabilities	in	a	declining	

interest	rate	environment,	net	interest	income	could	be	materially	adversely	impacted.		Likewise,	if	interest	bearing	

interest	rate	environment,	net	interest	income	could	be	materially	adversely	impacted.		Likewise,	if	interest	bearing	

liabilities	mature	or	reprice	more	quickly	than	interest	earning	assets	in	a	rising	interest	rate	environment,	net	

liabilities	mature	or	reprice	more	quickly	than	interest	earning	assets	in	a	rising	interest	rate	environment,	net	

interest	income	could	be	adversely	impacted.		

interest	income	could	be	adversely	impacted.		

Changes	in	interest	rates	can	affect	the	value	of	loans,	securities,	assets	under	management,	and	other	assets,	

Changes	in	interest	rates	can	affect	the	value	of	loans,	securities,	assets	under	management,	and	other	assets,	

including	mortgage	servicing	rights.		An	increase	in	interest	rates	that	adversely	affects	the	ability	of	borrowers	to	

including	mortgage	servicing	rights.		An	increase	in	interest	rates	that	adversely	affects	the	ability	of	borrowers	to	

pay	the	principal	or	interest	on	loans	and	leases	may	lead	to	an	increase	in	NPAs	and	a	reduction	of	income	

pay	the	principal	or	interest	on	loans	and	leases	may	lead	to	an	increase	in	NPAs	and	a	reduction	of	income	

recognized,	which	could	have	a	material	adverse	effect	on	our	results	of	operations	and	cash	flows.		When	we	place	

recognized,	which	could	have	a	material	adverse	effect	on	our	results	of	operations	and	cash	flows.		When	we	place	

a	loan	on	nonaccrual	status,	we	reverse	any	accrued	but	unpaid	interest	receivable,	which	decreases	interest	

a	loan	on	nonaccrual	status,	we	reverse	any	accrued	but	unpaid	interest	receivable,	which	decreases	interest	

income.		However,	we	continue	to	incur	interest	expense	as	a	cost	of	funding	NALs	without	any	corresponding	

income.		However,	we	continue	to	incur	interest	expense	as	a	cost	of	funding	NALs	without	any	corresponding	

interest	income.		In	addition,	transactional	income,	including	trust	income,	brokerage	income,	and	gain	on	sales	of	

interest	income.		In	addition,	transactional	income,	including	trust	income,	brokerage	income,	and	gain	on	sales	of	

loans	can	vary	significantly	from	period-to-period	based	on	a	number	of	factors,	including	the	interest	rate	

loans	can	vary	significantly	from	period-to-period	based	on	a	number	of	factors,	including	the	interest	rate	

environment.		A	decline	in	interest	rates	along	with	a	flattening	yield	curve	limits	our	ability	to	reprice	deposits	given	

environment.		A	decline	in	interest	rates	along	with	a	flattening	yield	curve	limits	our	ability	to	reprice	deposits	given	

the	current	historically	low	level	of	interest	rates	and	could	result	in	declining	net	interest	margins	if	longer	duration	

the	current	historically	low	level	of	interest	rates	and	could	result	in	declining	net	interest	margins	if	longer	duration	

assets	reprice	faster	than	deposits.		

assets	reprice	faster	than	deposits.		

Rising	interest	rates	reduce	the	value	of	our	fixed-rate	securities.		Any	unrealized	loss	from	these	portfolios	

Rising	interest	rates	reduce	the	value	of	our	fixed-rate	securities.		Any	unrealized	loss	from	these	portfolios	

impacts	OCI,	shareholders’	equity,	and	the	Tangible	Common	Equity	ratio.		Any	realized	loss	from	these	portfolios	

impacts	OCI,	shareholders’	equity,	and	the	Tangible	Common	Equity	ratio.		Any	realized	loss	from	these	portfolios	

impacts	regulatory	capital	ratios.		In	a	rising	interest	rate	environment,	pension	and	other	post-retirement	

impacts	regulatory	capital	ratios.		In	a	rising	interest	rate	environment,	pension	and	other	post-retirement	

obligations	somewhat	mitigate	negative	OCI	impacts	from	securities	and	financial	instruments.		For	more	

obligations	somewhat	mitigate	negative	OCI	impacts	from	securities	and	financial	instruments.		For	more	

information,	refer	to	“Market	Risk”	of	the	MD&A.

information,	refer	to	“Market	Risk”	of	the	MD&A.

Certain	investment	securities,	notably	mortgage-backed	securities,	are	sensitive	to	rising	and	falling	rates.		

Certain	investment	securities,	notably	mortgage-backed	securities,	are	sensitive	to	rising	and	falling	rates.		

Generally,	when	rates	rise,	prepayments	of	principal	and	interest	will	decrease	and	the	duration	of	mortgage-backed	

Generally,	when	rates	rise,	prepayments	of	principal	and	interest	will	decrease	and	the	duration	of	mortgage-backed	

securities	will	increase.		Conversely,	when	rates	fall,	prepayments	of	principal	and	interest	will	increase	and	the	

securities	will	increase.		Conversely,	when	rates	fall,	prepayments	of	principal	and	interest	will	increase	and	the	

duration	of	mortgage-backed	securities	will	decrease.		In	either	case,	interest	rates	have	a	significant	impact	on	the	

duration	of	mortgage-backed	securities	will	decrease.		In	either	case,	interest	rates	have	a	significant	impact	on	the	

value	of	mortgage-backed	securities.

value	of	mortgage-backed	securities.

MSR	fair	values	are	sensitive	to	movements	in	interest	rates,	as	expected	future	net	servicing	income	depends	

MSR	fair	values	are	sensitive	to	movements	in	interest	rates,	as	expected	future	net	servicing	income	depends	

on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		

on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		

Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.

Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.

In	response	to	the	economic	consequences	of	the	COVID-19	pandemic,	the	Federal	Reserve	lowered	its	target	

In	response	to	the	economic	consequences	of	the	COVID-19	pandemic,	the	Federal	Reserve	lowered	its	target	

for	the	federal	funds	rate	to	a	range	of	0%	to	0.25%.		Such	low	rates	increase	the	risk	in	the	U.S.	of	a	negative	

for	the	federal	funds	rate	to	a	range	of	0%	to	0.25%.		Such	low	rates	increase	the	risk	in	the	U.S.	of	a	negative	

interest	rate	environment	in	which	interest	rates	drop	below	zero,	either	broadly	or	for	some	types	of	instruments.		

interest	rate	environment	in	which	interest	rates	drop	below	zero,	either	broadly	or	for	some	types	of	instruments.		

For	example,	yields	on	one-month	and	three-month	Treasuries	briefly	dropped	below	zero	in	March	2020.		Such	an	

For	example,	yields	on	one-month	and	three-month	Treasuries	briefly	dropped	below	zero	in	March	2020.		Such	an	

requiring	us	to	pay	more	to	maintain	our	deposits	with	the	Federal	Reserve	Bank.		Although,	we	have	evaluated	our	

requiring	us	to	pay	more	to	maintain	our	deposits	with	the	Federal	Reserve	Bank.		Although,	we	have	evaluated	our	

systems	and	have	made	appropriate	changes,	our	systems	may	not	be	able	to	adequately	handle	a	negative	interest	

systems	and	have	made	appropriate	changes,	our	systems	may	not	be	able	to	adequately	handle	a	negative	interest	

rate	environment	and	not	all	variable	rate	instruments	are	designed	for	such	a	circumstance.		We	cannot	predict	the	

rate	environment	and	not	all	variable	rate	instruments	are	designed	for	such	a	circumstance.		We	cannot	predict	the	

nature	or	timing	of	future	changes	in	monetary	policies	in	response	to	the	outbreak	or	the	precise	effects	that	they	

nature	or	timing	of	future	changes	in	monetary	policies	in	response	to	the	outbreak	or	the	precise	effects	that	they	

may	have	on	our	activities	and	financial	results.

may	have	on	our	activities	and	financial	results.

In	addition	to	volatility	associated	with	interest	rates,	the	Company	also	has	exposure	to	equity	markets	related	

In	addition	to	volatility	associated	with	interest	rates,	the	Company	also	has	exposure	to	equity	markets	related	

to	the	investments	within	the	benefit	plans	and	other	income	from	client-based	transactions.		

to	the	investments	within	the	benefit	plans	and	other	income	from	client-based	transactions.		

Industry	competition	may	have	an	adverse	effect	on	our	success.

Industry	competition	may	have	an	adverse	effect	on	our	success.

Our	profitability	depends	on	our	ability	to	compete	successfully.		We	operate	in	a	highly	competitive	

Our	profitability	depends	on	our	ability	to	compete	successfully.		We	operate	in	a	highly	competitive	

environment,	and	we	expect	competition	to	intensify.		Certain	of	our	competitors	are	larger	and	have	more	

environment,	and	we	expect	competition	to	intensify.		Certain	of	our	competitors	are	larger	and	have	more	

resources	than	we	do,	enabling	them	to	be	more	aggressive	than	us	in	competing	for	loans	and	deposits.		In	our	

resources	than	we	do,	enabling	them	to	be	more	aggressive	than	us	in	competing	for	loans	and	deposits.		In	our	

market	areas,	we	face	competition	from	other	banks	and	financial	service	companies	that	offer	similar	services.		

market	areas,	we	face	competition	from	other	banks	and	financial	service	companies	that	offer	similar	services.		

Some	of	our	non-bank	competitors	are	not	subject	to	the	same	extensive	regulations	we	are	and,	therefore,	may	

Some	of	our	non-bank	competitors	are	not	subject	to	the	same	extensive	regulations	we	are	and,	therefore,	may	

have	greater	flexibility	in	competing	for	business.		Technological	advances	have	made	it	possible	for	our	non-bank	

have	greater	flexibility	in	competing	for	business.		Technological	advances	have	made	it	possible	for	our	non-bank	

competitors	to	offer	products	and	services	that	traditionally	were	banking	products	and	for	financial	institutions	and	

competitors	to	offer	products	and	services	that	traditionally	were	banking	products	and	for	financial	institutions	and	

other	companies	to	provide	electronic	and	internet-based	financial	solutions,	including	mobile	payments,	online	

other	companies	to	provide	electronic	and	internet-based	financial	solutions,	including	mobile	payments,	online	

deposit	accounts,	electronic	payment	processing,	and	marketplace	lending,	without	having	a	physical	presence	

deposit	accounts,	electronic	payment	processing,	and	marketplace	lending,	without	having	a	physical	presence	

Credit	Risks:

Credit	Risks:

Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	

Our	ACL	level	may	prove	to	not	be	adequate	or	be	negatively	affected	by	credit	risk	exposures	which	could	

adversely	affect	our	net	income	and	capital.

adversely	affect	our	net	income	and	capital.

Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	

Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	

326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	

326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	

implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio	which	incorporated	historical	loss	

implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio	which	incorporated	historical	loss	

experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	

experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	

balance	sheet	date.		The	models	materially	affected	how	we	determine	our	ACL	and	report	our	financial	condition	

balance	sheet	date.		The	models	materially	affected	how	we	determine	our	ACL	and	report	our	financial	condition	

and	results	of	operations.		For	further	discussion,	see	Note	2	“Accounting	Standards	Update”	of	the	Notes	to	

and	results	of	operations.		For	further	discussion,	see	Note	2	“Accounting	Standards	Update”	of	the	Notes	to	

Consolidated	Financial	Statements.

Consolidated	Financial	Statements.

Our	business	depends	on	the	creditworthiness	of	our	customers.		Our	ACL	of	$1.9	billion	at	December	31,	2020,	

Our	business	depends	on	the	creditworthiness	of	our	customers.		Our	ACL	of	$1.9	billion	at	December	31,	2020,	

represented	management’s	estimate	of	the	current	expected	losses	in	our	loan	and	lease	portfolio	(ALLL)	as	well	as	

represented	management’s	estimate	of	the	current	expected	losses	in	our	loan	and	lease	portfolio	(ALLL)	as	well	as	

our	unfunded	loan	commitments	and	letters	of	credit	(AULC).		We	regularly	review	our	ACL	for	appropriateness.		In	

our	unfunded	loan	commitments	and	letters	of	credit	(AULC).		We	regularly	review	our	ACL	for	appropriateness.		In	

doing	so,	we	consider	probability	of	default,	loss	given	default	and	exposure	at	default	depending	on	economic	

doing	so,	we	consider	probability	of	default,	loss	given	default	and	exposure	at	default	depending	on	economic	

parameters	for	each	month	of	the	remaining	contractual	term	of	the	credit	exposure.		The	economic	parameters	are	

parameters	for	each	month	of	the	remaining	contractual	term	of	the	credit	exposure.		The	economic	parameters	are	

developed	using	available	information	relating	to	past	events,	current	conditions,	and	reasonable	and	supportable	

developed	using	available	information	relating	to	past	events,	current	conditions,	and	reasonable	and	supportable	

forecasts.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	lifetime	losses	of	the	portfolio	

forecasts.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	lifetime	losses	of	the	portfolio	

because	of	unanticipated	adverse	changes	in	the	economy,	market	conditions,	or	events	adversely	affecting	specific	

because	of	unanticipated	adverse	changes	in	the	economy,	market	conditions,	or	events	adversely	affecting	specific	

customers,	industries,	or	markets.		If	the	credit	quality	of	our	customer	base	materially	decreases,	if	the	risk	profile	

customers,	industries,	or	markets.		If	the	credit	quality	of	our	customer	base	materially	decreases,	if	the	risk	profile	

of	a	market,	industry,	or	group	of	customers	changes	materially,	or	if	the	ACL	is	not	appropriate,	our	net	income	and	

of	a	market,	industry,	or	group	of	customers	changes	materially,	or	if	the	ACL	is	not	appropriate,	our	net	income	and	

capital	could	be	materially	adversely	affected,	which	could	have	a	material	adverse	effect	on	our	financial	condition	

capital	could	be	materially	adversely	affected,	which	could	have	a	material	adverse	effect	on	our	financial	condition	

and	results	of	operations.

and	results	of	operations.

In	addition,	regulatory	review	of	risk	ratings	and	loan	and	lease	losses	may	impact	the	level	of	the	ACL	and	

In	addition,	regulatory	review	of	risk	ratings	and	loan	and	lease	losses	may	impact	the	level	of	the	ACL	and	

could	have	a	material	adverse	effect	on	our	financial	condition	and	results	of	operations.

could	have	a	material	adverse	effect	on	our	financial	condition	and	results	of	operations.

Weakness	in	economic	conditions	could	adversely	affect	our	business.

Weakness	in	economic	conditions	could	adversely	affect	our	business.

Our	performance	could	be	negatively	affected	to	the	extent	there	is	deterioration	in	business	and	economic	

Our	performance	could	be	negatively	affected	to	the	extent	there	is	deterioration	in	business	and	economic	

conditions	which	have	direct	or	indirect	material	adverse	impacts	on	us,	our	customers,	and	our	counterparties.		

conditions	which	have	direct	or	indirect	material	adverse	impacts	on	us,	our	customers,	and	our	counterparties.		

These	conditions	could	result	in	one	or	more	of	the	following:

These	conditions	could	result	in	one	or	more	of	the	following:

• A	decrease	in	the	demand	for	loans	and	other	products	and	services	offered	by	us;

• A	decrease	in	the	demand	for	loans	and	other	products	and	services	offered	by	us;

• A	decrease	in	customer	savings	generally	and	in	the	demand	for	savings	and	investment	products	offered	by	

• A	decrease	in	customer	savings	generally	and	in	the	demand	for	savings	and	investment	products	offered	by	

us;	and

us;	and

• An	increase	in	the	number	of	customers	and	counterparties	who	become	delinquent,	file	for	protection	

• An	increase	in	the	number	of	customers	and	counterparties	who	become	delinquent,	file	for	protection	

under	bankruptcy	laws,	or	default	on	their	loans	or	other	obligations	to	us.

under	bankruptcy	laws,	or	default	on	their	loans	or	other	obligations	to	us.

An	increase	in	the	number	of	delinquencies,	bankruptcies,	or	defaults	could	result	in	a	higher	level	of	NPAs,	

An	increase	in	the	number	of	delinquencies,	bankruptcies,	or	defaults	could	result	in	a	higher	level	of	NPAs,	

NCOs,	provision	for	credit	losses,	and	valuation	adjustments	on	loans	held	for	sale.		The	markets	we	serve	are	

NCOs,	provision	for	credit	losses,	and	valuation	adjustments	on	loans	held	for	sale.		The	markets	we	serve	are	

dependent	on	industrial	and	manufacturing	businesses	and,	thus,	are	particularly	vulnerable	to	adverse	changes	in	

dependent	on	industrial	and	manufacturing	businesses	and,	thus,	are	particularly	vulnerable	to	adverse	changes	in	

economic	conditions	affecting	these	sectors.

economic	conditions	affecting	these	sectors.

Market	Risks:

Market	Risks:

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	

Changes	in	interest	rates	could	reduce	our	net	interest	income,	reduce	transactional	income,	and	negatively	

impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	flows,	

impact	the	value	of	our	loans,	securities,	and	other	assets.		This	could	have	an	adverse	impact	on	our	cash	flows,	

financial	condition,	results	of	operations,	and	capital.

financial	condition,	results	of	operations,	and	capital.

Our	results	of	operations	depend	substantially	on	net	interest	income,	which	is	the	difference	between	interest	

Our	results	of	operations	depend	substantially	on	net	interest	income,	which	is	the	difference	between	interest	

earned	on	interest	earning	assets	(such	as	investments	and	loans)	and	interest	paid	on	interest	bearing	liabilities	

earned	on	interest	earning	assets	(such	as	investments	and	loans)	and	interest	paid	on	interest	bearing	liabilities	

(such	as	deposits	and	borrowings).		Interest	rates	are	highly	sensitive	to	many	factors,	including	governmental	

(such	as	deposits	and	borrowings).		Interest	rates	are	highly	sensitive	to	many	factors,	including	governmental	

monetary	policies	and	domestic	and	international	economic	and	political	conditions.		Conditions	such	as	inflation,	

monetary	policies	and	domestic	and	international	economic	and	political	conditions.		Conditions	such	as	inflation,	

deflation,	recession,	unemployment,	money	supply,	and	other	factors	beyond	our	control	may	also	affect	interest	

deflation,	recession,	unemployment,	money	supply,	and	other	factors	beyond	our	control	may	also	affect	interest	

rates.		In	addition,	decisions	by	the	Federal	Reserve	to	increase	or	reduce	the	size	of	its	balance	sheet	may	also	affect	

rates.		In	addition,	decisions	by	the	Federal	Reserve	to	increase	or	reduce	the	size	of	its	balance	sheet	may	also	affect	

interest	rates.		If	our	interest	earning	assets	mature	or	reprice	faster	than	interest	bearing	liabilities	in	a	declining	
interest	rates.		If	our	interest	earning	assets	mature	or	reprice	faster	than	interest	bearing	liabilities	in	a	declining	
interest	rate	environment,	net	interest	income	could	be	materially	adversely	impacted.		Likewise,	if	interest	bearing	
interest	rate	environment,	net	interest	income	could	be	materially	adversely	impacted.		Likewise,	if	interest	bearing	
liabilities	mature	or	reprice	more	quickly	than	interest	earning	assets	in	a	rising	interest	rate	environment,	net	
liabilities	mature	or	reprice	more	quickly	than	interest	earning	assets	in	a	rising	interest	rate	environment,	net	
interest	income	could	be	adversely	impacted.		
interest	income	could	be	adversely	impacted.		

Changes	in	interest	rates	can	affect	the	value	of	loans,	securities,	assets	under	management,	and	other	assets,	
Changes	in	interest	rates	can	affect	the	value	of	loans,	securities,	assets	under	management,	and	other	assets,	
including	mortgage	servicing	rights.		An	increase	in	interest	rates	that	adversely	affects	the	ability	of	borrowers	to	
including	mortgage	servicing	rights.		An	increase	in	interest	rates	that	adversely	affects	the	ability	of	borrowers	to	
pay	the	principal	or	interest	on	loans	and	leases	may	lead	to	an	increase	in	NPAs	and	a	reduction	of	income	
pay	the	principal	or	interest	on	loans	and	leases	may	lead	to	an	increase	in	NPAs	and	a	reduction	of	income	
recognized,	which	could	have	a	material	adverse	effect	on	our	results	of	operations	and	cash	flows.		When	we	place	
recognized,	which	could	have	a	material	adverse	effect	on	our	results	of	operations	and	cash	flows.		When	we	place	
a	loan	on	nonaccrual	status,	we	reverse	any	accrued	but	unpaid	interest	receivable,	which	decreases	interest	
a	loan	on	nonaccrual	status,	we	reverse	any	accrued	but	unpaid	interest	receivable,	which	decreases	interest	
income.		However,	we	continue	to	incur	interest	expense	as	a	cost	of	funding	NALs	without	any	corresponding	
income.		However,	we	continue	to	incur	interest	expense	as	a	cost	of	funding	NALs	without	any	corresponding	
interest	income.		In	addition,	transactional	income,	including	trust	income,	brokerage	income,	and	gain	on	sales	of	
interest	income.		In	addition,	transactional	income,	including	trust	income,	brokerage	income,	and	gain	on	sales	of	
loans	can	vary	significantly	from	period-to-period	based	on	a	number	of	factors,	including	the	interest	rate	
loans	can	vary	significantly	from	period-to-period	based	on	a	number	of	factors,	including	the	interest	rate	
environment.		A	decline	in	interest	rates	along	with	a	flattening	yield	curve	limits	our	ability	to	reprice	deposits	given	
environment.		A	decline	in	interest	rates	along	with	a	flattening	yield	curve	limits	our	ability	to	reprice	deposits	given	
the	current	historically	low	level	of	interest	rates	and	could	result	in	declining	net	interest	margins	if	longer	duration	
the	current	historically	low	level	of	interest	rates	and	could	result	in	declining	net	interest	margins	if	longer	duration	
assets	reprice	faster	than	deposits.		
assets	reprice	faster	than	deposits.		

Rising	interest	rates	reduce	the	value	of	our	fixed-rate	securities.		Any	unrealized	loss	from	these	portfolios	
Rising	interest	rates	reduce	the	value	of	our	fixed-rate	securities.		Any	unrealized	loss	from	these	portfolios	
impacts	OCI,	shareholders’	equity,	and	the	Tangible	Common	Equity	ratio.		Any	realized	loss	from	these	portfolios	
impacts	OCI,	shareholders’	equity,	and	the	Tangible	Common	Equity	ratio.		Any	realized	loss	from	these	portfolios	
impacts	regulatory	capital	ratios.		In	a	rising	interest	rate	environment,	pension	and	other	post-retirement	
impacts	regulatory	capital	ratios.		In	a	rising	interest	rate	environment,	pension	and	other	post-retirement	
obligations	somewhat	mitigate	negative	OCI	impacts	from	securities	and	financial	instruments.		For	more	
obligations	somewhat	mitigate	negative	OCI	impacts	from	securities	and	financial	instruments.		For	more	
information,	refer	to	“Market	Risk”	of	the	MD&A.
information,	refer	to	“Market	Risk”	of	the	MD&A.

Certain	investment	securities,	notably	mortgage-backed	securities,	are	sensitive	to	rising	and	falling	rates.		
Certain	investment	securities,	notably	mortgage-backed	securities,	are	sensitive	to	rising	and	falling	rates.		
Generally,	when	rates	rise,	prepayments	of	principal	and	interest	will	decrease	and	the	duration	of	mortgage-backed	
Generally,	when	rates	rise,	prepayments	of	principal	and	interest	will	decrease	and	the	duration	of	mortgage-backed	
securities	will	increase.		Conversely,	when	rates	fall,	prepayments	of	principal	and	interest	will	increase	and	the	
securities	will	increase.		Conversely,	when	rates	fall,	prepayments	of	principal	and	interest	will	increase	and	the	
duration	of	mortgage-backed	securities	will	decrease.		In	either	case,	interest	rates	have	a	significant	impact	on	the	
duration	of	mortgage-backed	securities	will	decrease.		In	either	case,	interest	rates	have	a	significant	impact	on	the	
value	of	mortgage-backed	securities.
value	of	mortgage-backed	securities.

MSR	fair	values	are	sensitive	to	movements	in	interest	rates,	as	expected	future	net	servicing	income	depends	
MSR	fair	values	are	sensitive	to	movements	in	interest	rates,	as	expected	future	net	servicing	income	depends	

on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		
on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		
Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.
Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.

In	response	to	the	economic	consequences	of	the	COVID-19	pandemic,	the	Federal	Reserve	lowered	its	target	
In	response	to	the	economic	consequences	of	the	COVID-19	pandemic,	the	Federal	Reserve	lowered	its	target	

for	the	federal	funds	rate	to	a	range	of	0%	to	0.25%.		Such	low	rates	increase	the	risk	in	the	U.S.	of	a	negative	
for	the	federal	funds	rate	to	a	range	of	0%	to	0.25%.		Such	low	rates	increase	the	risk	in	the	U.S.	of	a	negative	
interest	rate	environment	in	which	interest	rates	drop	below	zero,	either	broadly	or	for	some	types	of	instruments.		
interest	rate	environment	in	which	interest	rates	drop	below	zero,	either	broadly	or	for	some	types	of	instruments.		
For	example,	yields	on	one-month	and	three-month	Treasuries	briefly	dropped	below	zero	in	March	2020.		Such	an	
For	example,	yields	on	one-month	and	three-month	Treasuries	briefly	dropped	below	zero	in	March	2020.		Such	an	
occurrence	would	likely	further	reduce	the	interest	we	earn	on	loans	and	other	earning	assets,	while	also	likely	
occurrence	would	likely	further	reduce	the	interest	we	earn	on	loans	and	other	earning	assets,	while	also	likely	
requiring	us	to	pay	more	to	maintain	our	deposits	with	the	Federal	Reserve	Bank.		Although,	we	have	evaluated	our	
requiring	us	to	pay	more	to	maintain	our	deposits	with	the	Federal	Reserve	Bank.		Although,	we	have	evaluated	our	
systems	and	have	made	appropriate	changes,	our	systems	may	not	be	able	to	adequately	handle	a	negative	interest	
systems	and	have	made	appropriate	changes,	our	systems	may	not	be	able	to	adequately	handle	a	negative	interest	
rate	environment	and	not	all	variable	rate	instruments	are	designed	for	such	a	circumstance.		We	cannot	predict	the	
rate	environment	and	not	all	variable	rate	instruments	are	designed	for	such	a	circumstance.		We	cannot	predict	the	
nature	or	timing	of	future	changes	in	monetary	policies	in	response	to	the	outbreak	or	the	precise	effects	that	they	
nature	or	timing	of	future	changes	in	monetary	policies	in	response	to	the	outbreak	or	the	precise	effects	that	they	
may	have	on	our	activities	and	financial	results.
may	have	on	our	activities	and	financial	results.

In	addition	to	volatility	associated	with	interest	rates,	the	Company	also	has	exposure	to	equity	markets	related	
In	addition	to	volatility	associated	with	interest	rates,	the	Company	also	has	exposure	to	equity	markets	related	

to	the	investments	within	the	benefit	plans	and	other	income	from	client-based	transactions.		
to	the	investments	within	the	benefit	plans	and	other	income	from	client-based	transactions.		

Industry	competition	may	have	an	adverse	effect	on	our	success.
Industry	competition	may	have	an	adverse	effect	on	our	success.

Our	profitability	depends	on	our	ability	to	compete	successfully.		We	operate	in	a	highly	competitive	
Our	profitability	depends	on	our	ability	to	compete	successfully.		We	operate	in	a	highly	competitive	
environment,	and	we	expect	competition	to	intensify.		Certain	of	our	competitors	are	larger	and	have	more	
environment,	and	we	expect	competition	to	intensify.		Certain	of	our	competitors	are	larger	and	have	more	
resources	than	we	do,	enabling	them	to	be	more	aggressive	than	us	in	competing	for	loans	and	deposits.		In	our	
resources	than	we	do,	enabling	them	to	be	more	aggressive	than	us	in	competing	for	loans	and	deposits.		In	our	
market	areas,	we	face	competition	from	other	banks	and	financial	service	companies	that	offer	similar	services.		
market	areas,	we	face	competition	from	other	banks	and	financial	service	companies	that	offer	similar	services.		
Some	of	our	non-bank	competitors	are	not	subject	to	the	same	extensive	regulations	we	are	and,	therefore,	may	
Some	of	our	non-bank	competitors	are	not	subject	to	the	same	extensive	regulations	we	are	and,	therefore,	may	
have	greater	flexibility	in	competing	for	business.		Technological	advances	have	made	it	possible	for	our	non-bank	
have	greater	flexibility	in	competing	for	business.		Technological	advances	have	made	it	possible	for	our	non-bank	
competitors	to	offer	products	and	services	that	traditionally	were	banking	products	and	for	financial	institutions	and	
competitors	to	offer	products	and	services	that	traditionally	were	banking	products	and	for	financial	institutions	and	
other	companies	to	provide	electronic	and	internet-based	financial	solutions,	including	mobile	payments,	online	
other	companies	to	provide	electronic	and	internet-based	financial	solutions,	including	mobile	payments,	online	
deposit	accounts,	electronic	payment	processing,	and	marketplace	lending,	without	having	a	physical	presence	
deposit	accounts,	electronic	payment	processing,	and	marketplace	lending,	without	having	a	physical	presence	

28					Huntington	Bancshares	Incorporated

28					Huntington	Bancshares	Incorporated

2020	Form	10-K					29
2020	Form	10-K					29

where	their	customers	are	located.		Legislative	or	regulatory	changes	also	could	lead	to	increased	competition	in	the	
where	their	customers	are	located.		Legislative	or	regulatory	changes	also	could	lead	to	increased	competition	in	the	
financial	services	sector.		For	example,	the	Economic	Growth	Act	and	the	Tailoring	Rules	reduce	the	regulatory	
financial	services	sector.		For	example,	the	Economic	Growth	Act	and	the	Tailoring	Rules	reduce	the	regulatory	
burden	of	certain	large	BHCs	and	raise	the	asset	thresholds	at	which	more	onerous	requirements	apply,	which	could	
burden	of	certain	large	BHCs	and	raise	the	asset	thresholds	at	which	more	onerous	requirements	apply,	which	could	
cause	certain	large	BHCs	to	become	more	competitive	or	to	more	aggressively	pursue	expansion.		Our	ability	to	
cause	certain	large	BHCs	to	become	more	competitive	or	to	more	aggressively	pursue	expansion.		Our	ability	to	
compete	successfully	depends	on	a	number	of	factors,	including	customer	convenience,	quality	of	service	by	
compete	successfully	depends	on	a	number	of	factors,	including	customer	convenience,	quality	of	service	by	
investing	in	new	products	and	services,	electronic	platforms,	personal	contacts,	pricing,	and	range	of	products.		If	we	
investing	in	new	products	and	services,	electronic	platforms,	personal	contacts,	pricing,	and	range	of	products.		If	we	
are	unable	to	successfully	compete	for	new	customers	and	retain	our	current	customers,	our	business,	financial	
are	unable	to	successfully	compete	for	new	customers	and	retain	our	current	customers,	our	business,	financial	
condition,	or	results	of	operations	may	be	adversely	affected.		In	particular,	if	we	experience	an	outflow	of	deposits	
condition,	or	results	of	operations	may	be	adversely	affected.		In	particular,	if	we	experience	an	outflow	of	deposits	
as	a	result	of	our	customers	seeking	investments	with	higher	yields	or	greater	financial	stability,	or	a	desire	to	do	
as	a	result	of	our	customers	seeking	investments	with	higher	yields	or	greater	financial	stability,	or	a	desire	to	do	
business	with	our	competitors,	we	may	be	forced	to	rely	more	heavily	on	borrowings	and	other	sources	of	funding	
business	with	our	competitors,	we	may	be	forced	to	rely	more	heavily	on	borrowings	and	other	sources	of	funding	
to	operate	our	business	and	meet	withdrawal	demands,	thereby	adversely	affecting	our	net	interest	margin.		For	
to	operate	our	business	and	meet	withdrawal	demands,	thereby	adversely	affecting	our	net	interest	margin.		For	
more	information,	refer	to	“Competition”	section	of	Item	1:	Business.
more	information,	refer	to	“Competition”	section	of	Item	1:	Business.

Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.
Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

LIBOR	and	certain	other	interest	rate	“benchmarks”	are	the	subject	of	recent	national,	international,	and	other	
LIBOR	and	certain	other	interest	rate	“benchmarks”	are	the	subject	of	recent	national,	international,	and	other	

regulatory	guidance	and	proposals	for	reform.		These	reforms	may	cause	such	benchmarks	to	perform	differently	
regulatory	guidance	and	proposals	for	reform.		These	reforms	may	cause	such	benchmarks	to	perform	differently	
than	in	the	past	or	have	other	consequences	which	cannot	be	predicted.		On	November	30,	2020,	the	ICE	Benchmark	
than	in	the	past	or	have	other	consequences	which	cannot	be	predicted.		On	November	30,	2020,	the	ICE	Benchmark	
Administration,	the	administrator	of	LIBOR,	announced	it	will	consult	on	its	intention	to	cease	the	publication	of	
Administration,	the	administrator	of	LIBOR,	announced	it	will	consult	on	its	intention	to	cease	the	publication	of	
one-week	and	two-month	tenors	of	USD	LIBOR	after	December	31,	2021,	while	all	remaining	tenors	of	USD	LIBOR	
one-week	and	two-month	tenors	of	USD	LIBOR	after	December	31,	2021,	while	all	remaining	tenors	of	USD	LIBOR	
would	continue	to	be	published	until	June	30,	2023.		Therefore,	it	is	expected	that	publication	of	all	USD	LIBORs	will	
would	continue	to	be	published	until	June	30,	2023.		Therefore,	it	is	expected	that	publication	of	all	USD	LIBORs	will	
cease	to	exist	after	June	30,	2023.		In	parallel,	the	Federal	Reserve,	OCC	and	FDIC	issued	guidance	encouraging	banks	
cease	to	exist	after	June	30,	2023.		In	parallel,	the	Federal	Reserve,	OCC	and	FDIC	issued	guidance	encouraging	banks	
to	transition	away	from	USD	LIBOR	as	soon	as	practicable.		The	statement	suggested	that	banks	should	not	enter	
to	transition	away	from	USD	LIBOR	as	soon	as	practicable.		The	statement	suggested	that	banks	should	not	enter	
into	new	transactions	referencing	USD	LIBOR	after	December	31,	2021.		
into	new	transactions	referencing	USD	LIBOR	after	December	31,	2021.		

While	there	is	no	consensus	on	what	rate	or	rates	may	become	accepted	alternatives	to	LIBOR,	a	group	of	
While	there	is	no	consensus	on	what	rate	or	rates	may	become	accepted	alternatives	to	LIBOR,	a	group	of	
market	participants	convened	by	the	Federal	Reserve,	the	Alternative	Reference	Rate	Committee	(ARRC),	has	
market	participants	convened	by	the	Federal	Reserve,	the	Alternative	Reference	Rate	Committee	(ARRC),	has	
selected	SOFR	as	its	recommended	alternative	to	LIBOR.		The	Federal	Reserve	Bank	of	New	York	started	to	publish	
selected	SOFR	as	its	recommended	alternative	to	LIBOR.		The	Federal	Reserve	Bank	of	New	York	started	to	publish	
SOFR	in	April	2018.		SOFR	is	a	broad	measure	of	the	cost	of	overnight	borrowings	collateralized	by	Treasury	
SOFR	in	April	2018.		SOFR	is	a	broad	measure	of	the	cost	of	overnight	borrowings	collateralized	by	Treasury	
securities	that	was	selected	by	the	Alternative	Reference	Rate	Committee	due	to	the	depth	and	robustness	of	the	
securities	that	was	selected	by	the	Alternative	Reference	Rate	Committee	due	to	the	depth	and	robustness	of	the	
U.S.	Treasury	repurchase	market.		At	this	time,	it	is	impossible	to	predict	whether	SOFR	will	become	an	accepted	
U.S.	Treasury	repurchase	market.		At	this	time,	it	is	impossible	to	predict	whether	SOFR	will	become	an	accepted	
alternative	to	LIBOR.	In	January	of	2020,	Huntington	was	added	as	an	ARRC	member.	
alternative	to	LIBOR.	In	January	of	2020,	Huntington	was	added	as	an	ARRC	member.	

The	market	transition	away	from	LIBOR	to	an	alternative	reference	rate,	such	as	SOFR,	is	complex	and	could	
The	market	transition	away	from	LIBOR	to	an	alternative	reference	rate,	such	as	SOFR,	is	complex	and	could	
have	a	range	of	adverse	effects	on	our	business,	financial	condition	and	results	of	operations.		In	particular,	any	such	
have	a	range	of	adverse	effects	on	our	business,	financial	condition	and	results	of	operations.		In	particular,	any	such	
transition	could:
transition	could:

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	
• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

value	of	Huntington’s	LIBOR-based	assets	and	liabilities,	which	include	certain	variable	rate	loans,	
value	of	Huntington’s	LIBOR-based	assets	and	liabilities,	which	include	certain	variable	rate	loans,	
Huntington’s	Series	B	preferred	stock,	certain	of	Huntington’s	junior	subordinated	debentures,	certain	of	the	
Huntington’s	Series	B	preferred	stock,	certain	of	Huntington’s	junior	subordinated	debentures,	certain	of	the	
Bank’s	senior	notes	and	certain	other	securities	or	financial	arrangements;
Bank’s	senior	notes	and	certain	other	securities	or	financial	arrangements;

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	
• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

value	of	other	securities	or	financial	arrangements,	given	LIBOR’s	role	in	determining	market	interest	rates	
value	of	other	securities	or	financial	arrangements,	given	LIBOR’s	role	in	determining	market	interest	rates	
globally;
globally;
Prompt	inquiries	or	other	actions	from	regulators	in	respect	of	Huntington’s	preparation	and	readiness	for	
Prompt	inquiries	or	other	actions	from	regulators	in	respect	of	Huntington’s	preparation	and	readiness	for	
the	replacement	of	LIBOR	with	an	alternative	reference	rate;	and
the	replacement	of	LIBOR	with	an	alternative	reference	rate;	and
Result	in	disputes,	litigation	or	other	actions	with	counterparties	regarding	the	interpretation	and	
Result	in	disputes,	litigation	or	other	actions	with	counterparties	regarding	the	interpretation	and	
enforceability	of	certain	fallback	language	in	LIBOR-based	contracts	and	securities.
enforceability	of	certain	fallback	language	in	LIBOR-based	contracts	and	securities.

•
•

•
•

The	transition	away	from	LIBOR	to	an	alternative	reference	rate	will	require	the	transition	to	or	development	of	
The	transition	away	from	LIBOR	to	an	alternative	reference	rate	will	require	the	transition	to	or	development	of	
appropriate	systems	and	analytics	to	effectively	transition	Huntington’s	risk	management	and	other	processes	from	
appropriate	systems	and	analytics	to	effectively	transition	Huntington’s	risk	management	and	other	processes	from	
LIBOR-based	products	to	those	based	on	the	applicable	alternative	reference	rate,	such	as	SOFR.		Huntington	has	
LIBOR-based	products	to	those	based	on	the	applicable	alternative	reference	rate,	such	as	SOFR.		Huntington	has	
developed	a	LIBOR	transition	team	and	project	plan	that	outlines	timelines	and	priorities	to	prepare	its	processes,	
developed	a	LIBOR	transition	team	and	project	plan	that	outlines	timelines	and	priorities	to	prepare	its	processes,	
systems	and	people	to	support	this	transition.		Timelines	and	priorities	include	assessing	the	impact	on	our	
systems	and	people	to	support	this	transition.		Timelines	and	priorities	include	assessing	the	impact	on	our	
customers,	as	well	as	assessing	system	requirements	for	operational	processes.		There	can	be	no	guarantee	that	
customers,	as	well	as	assessing	system	requirements	for	operational	processes.		There	can	be	no	guarantee	that	
these	efforts	will	successfully	mitigate	the	operational	risks	associated	with	the	transition	away	from	LIBOR	to	an	
these	efforts	will	successfully	mitigate	the	operational	risks	associated	with	the	transition	away	from	LIBOR	to	an	
alternative	reference	rate.
alternative	reference	rate.

The	manner	and	impact	of	the	transition	from	LIBOR	to	an	alternative	reference	rate,	as	well	as	the	effect	of	

The	manner	and	impact	of	the	transition	from	LIBOR	to	an	alternative	reference	rate,	as	well	as	the	effect	of	

these	developments	on	our	funding	costs,	loan	and	investment	and	trading	securities	portfolios,	asset-liability	

these	developments	on	our	funding	costs,	loan	and	investment	and	trading	securities	portfolios,	asset-liability	

management,	and	business,	is	uncertain.

management,	and	business,	is	uncertain.

Liquidity	Risks:

Liquidity	Risks:

depositor	confidence.

depositor	confidence.

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	

Liquidity	is	the	ability	to	meet	cash	flow	needs	on	a	timely	basis	at	a	reasonable	cost.		The	Bank	uses	its	liquidity	

Liquidity	is	the	ability	to	meet	cash	flow	needs	on	a	timely	basis	at	a	reasonable	cost.		The	Bank	uses	its	liquidity	

to	extend	credit	and	to	repay	liabilities	as	they	become	due	or	as	demanded	by	customers.	

to	extend	credit	and	to	repay	liabilities	as	they	become	due	or	as	demanded	by	customers.	

Our	primary	source	of	liquidity	is	our	large	supply	of	deposits	from	consumer	and	commercial	customers.		The	

Our	primary	source	of	liquidity	is	our	large	supply	of	deposits	from	consumer	and	commercial	customers.		The	

continued	availability	of	this	supply	depends	on	customer	willingness	to	maintain	deposit	balances	with	banks	in	

continued	availability	of	this	supply	depends	on	customer	willingness	to	maintain	deposit	balances	with	banks	in	

general	and	us	in	particular.		The	availability	of	deposits	can	also	be	impacted	by	regulatory	changes	(e.g.,	changes	in	

general	and	us	in	particular.		The	availability	of	deposits	can	also	be	impacted	by	regulatory	changes	(e.g.,	changes	in	

FDIC	insurance,	liquidity	requirements,	etc.),	changes	in	the	financial	condition	of	Huntington,	other	banks,	or	the	

FDIC	insurance,	liquidity	requirements,	etc.),	changes	in	the	financial	condition	of	Huntington,	other	banks,	or	the	

banking	industry	in	general,	changes	in	the	interest	rates	our	competitors	pay	on	their	deposits,	and	other	events	

banking	industry	in	general,	changes	in	the	interest	rates	our	competitors	pay	on	their	deposits,	and	other	events	

which	can	impact	the	perceived	safety	or	economic	benefits	of	bank	deposits.		While	we	make	significant	efforts	to	

which	can	impact	the	perceived	safety	or	economic	benefits	of	bank	deposits.		While	we	make	significant	efforts	to	

consider	and	plan	for	hypothetical	disruptions	in	our	deposit	funding,	market	related,	geopolitical,	or	other	events	

consider	and	plan	for	hypothetical	disruptions	in	our	deposit	funding,	market	related,	geopolitical,	or	other	events	

could	impact	the	liquidity	derived	from	deposits.

could	impact	the	liquidity	derived	from	deposits.

We	are	a	holding	company	and	depend	on	dividends	by	our	subsidiaries	for	most	of	our	funds.		

We	are	a	holding	company	and	depend	on	dividends	by	our	subsidiaries	for	most	of	our	funds.		

Huntington	is	an	entity	separate	and	distinct	from	the	Bank.		The	Bank	conducts	most	of	our	operations,	and	

Huntington	is	an	entity	separate	and	distinct	from	the	Bank.		The	Bank	conducts	most	of	our	operations,	and	

Huntington	depends	upon	dividends	from	the	Bank	to	service	Huntington’s	debt	and	to	pay	dividends	to	

Huntington	depends	upon	dividends	from	the	Bank	to	service	Huntington’s	debt	and	to	pay	dividends	to	

Huntington’s	shareholders.		The	availability	of	dividends	from	the	Bank	is	limited	by	various	statutes	and	regulations.		

Huntington’s	shareholders.		The	availability	of	dividends	from	the	Bank	is	limited	by	various	statutes	and	regulations.		

It	is	possible,	depending	upon	the	financial	condition	including	liquidity	and	capital	adequacy	of	the	Bank	and	other	

It	is	possible,	depending	upon	the	financial	condition	including	liquidity	and	capital	adequacy	of	the	Bank	and	other	

factors,	that	the	OCC	could	limit	the	payment	of	dividends	or	other	payments	to	Huntington	by	the	Bank.		In	

factors,	that	the	OCC	could	limit	the	payment	of	dividends	or	other	payments	to	Huntington	by	the	Bank.		In	

addition,	the	payment	of	dividends	by	our	other	subsidiaries	is	also	subject	to	the	laws	of	the	subsidiary’s	state	of	

addition,	the	payment	of	dividends	by	our	other	subsidiaries	is	also	subject	to	the	laws	of	the	subsidiary’s	state	of	

incorporation,	and	regulatory	capital	and	liquidity	requirements	applicable	to	such	subsidiaries.		In	the	event	that	

incorporation,	and	regulatory	capital	and	liquidity	requirements	applicable	to	such	subsidiaries.		In	the	event	that	

the	Bank	was	unable	to	pay	dividends	to	us,	we	in	turn	would	likely	have	to	reduce	or	stop	paying	dividends	on	our	

the	Bank	was	unable	to	pay	dividends	to	us,	we	in	turn	would	likely	have	to	reduce	or	stop	paying	dividends	on	our	

Preferred	and	Common	Stock.		Our	failure	to	pay	dividends	on	our	Preferred	and	Common	Stock	could	have	a	

Preferred	and	Common	Stock.		Our	failure	to	pay	dividends	on	our	Preferred	and	Common	Stock	could	have	a	

material	adverse	effect	on	the	market	price	of	our	Preferred	and	Common	Stock.		Additional	information	regarding	

material	adverse	effect	on	the	market	price	of	our	Preferred	and	Common	Stock.		Additional	information	regarding	

dividend	restrictions	is	provided	in	Item	1:	Business	-	Regulatory	Matters.

dividend	restrictions	is	provided	in	Item	1:	Business	-	Regulatory	Matters.

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	depositors,	

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	depositors,	

creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	other	corporate	

creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	other	corporate	

activities.

activities.

Wholesale	funding	sources	can	include	securitization,	federal	funds	purchased,	securities	sold	under	repurchase	

Wholesale	funding	sources	can	include	securitization,	federal	funds	purchased,	securities	sold	under	repurchase	

agreements,	non-core	deposits,	and	long-term	debt.		The	Bank	is	also	a	member	of	the	FHLB,	which	provides	

agreements,	non-core	deposits,	and	long-term	debt.		The	Bank	is	also	a	member	of	the	FHLB,	which	provides	

members	access	to	funding	through	advances	collateralized	with	mortgage-related	assets.		We	maintain	a	portfolio	

members	access	to	funding	through	advances	collateralized	with	mortgage-related	assets.		We	maintain	a	portfolio	

of	highly-rated,	marketable	securities	that	is	available	as	a	source	of	liquidity.

of	highly-rated,	marketable	securities	that	is	available	as	a	source	of	liquidity.

Capital	markets	disruptions	can	directly	impact	the	liquidity	of	Huntington	and	the	Bank.		The	inability	to	access	

Capital	markets	disruptions	can	directly	impact	the	liquidity	of	Huntington	and	the	Bank.		The	inability	to	access	

capital	markets	funding	sources	as	needed	could	adversely	impact	our	financial	condition,	results	of	operations,	cash	

capital	markets	funding	sources	as	needed	could	adversely	impact	our	financial	condition,	results	of	operations,	cash	

flows,	and	level	of	regulatory-qualifying	capital.		We	may,	from	time-to-time,	consider	using	our	existing	liquidity	

flows,	and	level	of	regulatory-qualifying	capital.		We	may,	from	time-to-time,	consider	using	our	existing	liquidity	

position	to	opportunistically	retire	outstanding	securities	in	privately	negotiated	or	open	market	transactions.

position	to	opportunistically	retire	outstanding	securities	in	privately	negotiated	or	open	market	transactions.

30					Huntington	Bancshares	Incorporated
30					Huntington	Bancshares	Incorporated

2020	Form	10-K					31

2020	Form	10-K					31

where	their	customers	are	located.		Legislative	or	regulatory	changes	also	could	lead	to	increased	competition	in	the	

where	their	customers	are	located.		Legislative	or	regulatory	changes	also	could	lead	to	increased	competition	in	the	

The	manner	and	impact	of	the	transition	from	LIBOR	to	an	alternative	reference	rate,	as	well	as	the	effect	of	
The	manner	and	impact	of	the	transition	from	LIBOR	to	an	alternative	reference	rate,	as	well	as	the	effect	of	

financial	services	sector.		For	example,	the	Economic	Growth	Act	and	the	Tailoring	Rules	reduce	the	regulatory	

financial	services	sector.		For	example,	the	Economic	Growth	Act	and	the	Tailoring	Rules	reduce	the	regulatory	

burden	of	certain	large	BHCs	and	raise	the	asset	thresholds	at	which	more	onerous	requirements	apply,	which	could	

burden	of	certain	large	BHCs	and	raise	the	asset	thresholds	at	which	more	onerous	requirements	apply,	which	could	

cause	certain	large	BHCs	to	become	more	competitive	or	to	more	aggressively	pursue	expansion.		Our	ability	to	

cause	certain	large	BHCs	to	become	more	competitive	or	to	more	aggressively	pursue	expansion.		Our	ability	to	

compete	successfully	depends	on	a	number	of	factors,	including	customer	convenience,	quality	of	service	by	

compete	successfully	depends	on	a	number	of	factors,	including	customer	convenience,	quality	of	service	by	

investing	in	new	products	and	services,	electronic	platforms,	personal	contacts,	pricing,	and	range	of	products.		If	we	

investing	in	new	products	and	services,	electronic	platforms,	personal	contacts,	pricing,	and	range	of	products.		If	we	

are	unable	to	successfully	compete	for	new	customers	and	retain	our	current	customers,	our	business,	financial	

are	unable	to	successfully	compete	for	new	customers	and	retain	our	current	customers,	our	business,	financial	

condition,	or	results	of	operations	may	be	adversely	affected.		In	particular,	if	we	experience	an	outflow	of	deposits	

condition,	or	results	of	operations	may	be	adversely	affected.		In	particular,	if	we	experience	an	outflow	of	deposits	

as	a	result	of	our	customers	seeking	investments	with	higher	yields	or	greater	financial	stability,	or	a	desire	to	do	

as	a	result	of	our	customers	seeking	investments	with	higher	yields	or	greater	financial	stability,	or	a	desire	to	do	

business	with	our	competitors,	we	may	be	forced	to	rely	more	heavily	on	borrowings	and	other	sources	of	funding	

business	with	our	competitors,	we	may	be	forced	to	rely	more	heavily	on	borrowings	and	other	sources	of	funding	

to	operate	our	business	and	meet	withdrawal	demands,	thereby	adversely	affecting	our	net	interest	margin.		For	

to	operate	our	business	and	meet	withdrawal	demands,	thereby	adversely	affecting	our	net	interest	margin.		For	

more	information,	refer	to	“Competition”	section	of	Item	1:	Business.

more	information,	refer	to	“Competition”	section	of	Item	1:	Business.

Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

Uncertainty	about	the	future	of	LIBOR	may	adversely	affect	our	business.

LIBOR	and	certain	other	interest	rate	“benchmarks”	are	the	subject	of	recent	national,	international,	and	other	

LIBOR	and	certain	other	interest	rate	“benchmarks”	are	the	subject	of	recent	national,	international,	and	other	

regulatory	guidance	and	proposals	for	reform.		These	reforms	may	cause	such	benchmarks	to	perform	differently	

regulatory	guidance	and	proposals	for	reform.		These	reforms	may	cause	such	benchmarks	to	perform	differently	

than	in	the	past	or	have	other	consequences	which	cannot	be	predicted.		On	November	30,	2020,	the	ICE	Benchmark	

than	in	the	past	or	have	other	consequences	which	cannot	be	predicted.		On	November	30,	2020,	the	ICE	Benchmark	

Administration,	the	administrator	of	LIBOR,	announced	it	will	consult	on	its	intention	to	cease	the	publication	of	

Administration,	the	administrator	of	LIBOR,	announced	it	will	consult	on	its	intention	to	cease	the	publication	of	

one-week	and	two-month	tenors	of	USD	LIBOR	after	December	31,	2021,	while	all	remaining	tenors	of	USD	LIBOR	

one-week	and	two-month	tenors	of	USD	LIBOR	after	December	31,	2021,	while	all	remaining	tenors	of	USD	LIBOR	

would	continue	to	be	published	until	June	30,	2023.		Therefore,	it	is	expected	that	publication	of	all	USD	LIBORs	will	

would	continue	to	be	published	until	June	30,	2023.		Therefore,	it	is	expected	that	publication	of	all	USD	LIBORs	will	

cease	to	exist	after	June	30,	2023.		In	parallel,	the	Federal	Reserve,	OCC	and	FDIC	issued	guidance	encouraging	banks	

cease	to	exist	after	June	30,	2023.		In	parallel,	the	Federal	Reserve,	OCC	and	FDIC	issued	guidance	encouraging	banks	

to	transition	away	from	USD	LIBOR	as	soon	as	practicable.		The	statement	suggested	that	banks	should	not	enter	

to	transition	away	from	USD	LIBOR	as	soon	as	practicable.		The	statement	suggested	that	banks	should	not	enter	

into	new	transactions	referencing	USD	LIBOR	after	December	31,	2021.		

into	new	transactions	referencing	USD	LIBOR	after	December	31,	2021.		

While	there	is	no	consensus	on	what	rate	or	rates	may	become	accepted	alternatives	to	LIBOR,	a	group	of	

While	there	is	no	consensus	on	what	rate	or	rates	may	become	accepted	alternatives	to	LIBOR,	a	group	of	

market	participants	convened	by	the	Federal	Reserve,	the	Alternative	Reference	Rate	Committee	(ARRC),	has	

market	participants	convened	by	the	Federal	Reserve,	the	Alternative	Reference	Rate	Committee	(ARRC),	has	

selected	SOFR	as	its	recommended	alternative	to	LIBOR.		The	Federal	Reserve	Bank	of	New	York	started	to	publish	

selected	SOFR	as	its	recommended	alternative	to	LIBOR.		The	Federal	Reserve	Bank	of	New	York	started	to	publish	

SOFR	in	April	2018.		SOFR	is	a	broad	measure	of	the	cost	of	overnight	borrowings	collateralized	by	Treasury	

SOFR	in	April	2018.		SOFR	is	a	broad	measure	of	the	cost	of	overnight	borrowings	collateralized	by	Treasury	

securities	that	was	selected	by	the	Alternative	Reference	Rate	Committee	due	to	the	depth	and	robustness	of	the	

securities	that	was	selected	by	the	Alternative	Reference	Rate	Committee	due	to	the	depth	and	robustness	of	the	

U.S.	Treasury	repurchase	market.		At	this	time,	it	is	impossible	to	predict	whether	SOFR	will	become	an	accepted	

U.S.	Treasury	repurchase	market.		At	this	time,	it	is	impossible	to	predict	whether	SOFR	will	become	an	accepted	

alternative	to	LIBOR.	In	January	of	2020,	Huntington	was	added	as	an	ARRC	member.	

alternative	to	LIBOR.	In	January	of	2020,	Huntington	was	added	as	an	ARRC	member.	

The	market	transition	away	from	LIBOR	to	an	alternative	reference	rate,	such	as	SOFR,	is	complex	and	could	

The	market	transition	away	from	LIBOR	to	an	alternative	reference	rate,	such	as	SOFR,	is	complex	and	could	

have	a	range	of	adverse	effects	on	our	business,	financial	condition	and	results	of	operations.		In	particular,	any	such	

have	a	range	of	adverse	effects	on	our	business,	financial	condition	and	results	of	operations.		In	particular,	any	such	

transition	could:

transition	could:

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

value	of	Huntington’s	LIBOR-based	assets	and	liabilities,	which	include	certain	variable	rate	loans,	

value	of	Huntington’s	LIBOR-based	assets	and	liabilities,	which	include	certain	variable	rate	loans,	

Huntington’s	Series	B	preferred	stock,	certain	of	Huntington’s	junior	subordinated	debentures,	certain	of	the	

Huntington’s	Series	B	preferred	stock,	certain	of	Huntington’s	junior	subordinated	debentures,	certain	of	the	

Bank’s	senior	notes	and	certain	other	securities	or	financial	arrangements;

Bank’s	senior	notes	and	certain	other	securities	or	financial	arrangements;

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

• Adversely	affect	the	interest	rates	paid	or	received	on,	the	revenue	and	expenses	associated	with	or	the	

value	of	other	securities	or	financial	arrangements,	given	LIBOR’s	role	in	determining	market	interest	rates	

value	of	other	securities	or	financial	arrangements,	given	LIBOR’s	role	in	determining	market	interest	rates	

globally;

globally;

•

•

•

•

Prompt	inquiries	or	other	actions	from	regulators	in	respect	of	Huntington’s	preparation	and	readiness	for	

Prompt	inquiries	or	other	actions	from	regulators	in	respect	of	Huntington’s	preparation	and	readiness	for	

the	replacement	of	LIBOR	with	an	alternative	reference	rate;	and

the	replacement	of	LIBOR	with	an	alternative	reference	rate;	and

Result	in	disputes,	litigation	or	other	actions	with	counterparties	regarding	the	interpretation	and	

Result	in	disputes,	litigation	or	other	actions	with	counterparties	regarding	the	interpretation	and	

enforceability	of	certain	fallback	language	in	LIBOR-based	contracts	and	securities.

enforceability	of	certain	fallback	language	in	LIBOR-based	contracts	and	securities.

The	transition	away	from	LIBOR	to	an	alternative	reference	rate	will	require	the	transition	to	or	development	of	

The	transition	away	from	LIBOR	to	an	alternative	reference	rate	will	require	the	transition	to	or	development	of	

appropriate	systems	and	analytics	to	effectively	transition	Huntington’s	risk	management	and	other	processes	from	

appropriate	systems	and	analytics	to	effectively	transition	Huntington’s	risk	management	and	other	processes	from	

LIBOR-based	products	to	those	based	on	the	applicable	alternative	reference	rate,	such	as	SOFR.		Huntington	has	

LIBOR-based	products	to	those	based	on	the	applicable	alternative	reference	rate,	such	as	SOFR.		Huntington	has	

developed	a	LIBOR	transition	team	and	project	plan	that	outlines	timelines	and	priorities	to	prepare	its	processes,	

developed	a	LIBOR	transition	team	and	project	plan	that	outlines	timelines	and	priorities	to	prepare	its	processes,	

systems	and	people	to	support	this	transition.		Timelines	and	priorities	include	assessing	the	impact	on	our	

systems	and	people	to	support	this	transition.		Timelines	and	priorities	include	assessing	the	impact	on	our	

customers,	as	well	as	assessing	system	requirements	for	operational	processes.		There	can	be	no	guarantee	that	

customers,	as	well	as	assessing	system	requirements	for	operational	processes.		There	can	be	no	guarantee	that	

these	efforts	will	successfully	mitigate	the	operational	risks	associated	with	the	transition	away	from	LIBOR	to	an	

these	efforts	will	successfully	mitigate	the	operational	risks	associated	with	the	transition	away	from	LIBOR	to	an	

alternative	reference	rate.

alternative	reference	rate.

30					Huntington	Bancshares	Incorporated

30					Huntington	Bancshares	Incorporated

these	developments	on	our	funding	costs,	loan	and	investment	and	trading	securities	portfolios,	asset-liability	
these	developments	on	our	funding	costs,	loan	and	investment	and	trading	securities	portfolios,	asset-liability	
management,	and	business,	is	uncertain.
management,	and	business,	is	uncertain.

Liquidity	Risks:
Liquidity	Risks:

Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	
Changes	in	either	Huntington’s	financial	condition	or	in	the	general	banking	industry	could	result	in	a	loss	of	
depositor	confidence.
depositor	confidence.

Liquidity	is	the	ability	to	meet	cash	flow	needs	on	a	timely	basis	at	a	reasonable	cost.		The	Bank	uses	its	liquidity	
Liquidity	is	the	ability	to	meet	cash	flow	needs	on	a	timely	basis	at	a	reasonable	cost.		The	Bank	uses	its	liquidity	

to	extend	credit	and	to	repay	liabilities	as	they	become	due	or	as	demanded	by	customers.	
to	extend	credit	and	to	repay	liabilities	as	they	become	due	or	as	demanded	by	customers.	

Our	primary	source	of	liquidity	is	our	large	supply	of	deposits	from	consumer	and	commercial	customers.		The	
Our	primary	source	of	liquidity	is	our	large	supply	of	deposits	from	consumer	and	commercial	customers.		The	

continued	availability	of	this	supply	depends	on	customer	willingness	to	maintain	deposit	balances	with	banks	in	
continued	availability	of	this	supply	depends	on	customer	willingness	to	maintain	deposit	balances	with	banks	in	
general	and	us	in	particular.		The	availability	of	deposits	can	also	be	impacted	by	regulatory	changes	(e.g.,	changes	in	
general	and	us	in	particular.		The	availability	of	deposits	can	also	be	impacted	by	regulatory	changes	(e.g.,	changes	in	
FDIC	insurance,	liquidity	requirements,	etc.),	changes	in	the	financial	condition	of	Huntington,	other	banks,	or	the	
FDIC	insurance,	liquidity	requirements,	etc.),	changes	in	the	financial	condition	of	Huntington,	other	banks,	or	the	
banking	industry	in	general,	changes	in	the	interest	rates	our	competitors	pay	on	their	deposits,	and	other	events	
banking	industry	in	general,	changes	in	the	interest	rates	our	competitors	pay	on	their	deposits,	and	other	events	
which	can	impact	the	perceived	safety	or	economic	benefits	of	bank	deposits.		While	we	make	significant	efforts	to	
which	can	impact	the	perceived	safety	or	economic	benefits	of	bank	deposits.		While	we	make	significant	efforts	to	
consider	and	plan	for	hypothetical	disruptions	in	our	deposit	funding,	market	related,	geopolitical,	or	other	events	
consider	and	plan	for	hypothetical	disruptions	in	our	deposit	funding,	market	related,	geopolitical,	or	other	events	
could	impact	the	liquidity	derived	from	deposits.
could	impact	the	liquidity	derived	from	deposits.

We	are	a	holding	company	and	depend	on	dividends	by	our	subsidiaries	for	most	of	our	funds.		
We	are	a	holding	company	and	depend	on	dividends	by	our	subsidiaries	for	most	of	our	funds.		

Huntington	is	an	entity	separate	and	distinct	from	the	Bank.		The	Bank	conducts	most	of	our	operations,	and	
Huntington	is	an	entity	separate	and	distinct	from	the	Bank.		The	Bank	conducts	most	of	our	operations,	and	

Huntington	depends	upon	dividends	from	the	Bank	to	service	Huntington’s	debt	and	to	pay	dividends	to	
Huntington	depends	upon	dividends	from	the	Bank	to	service	Huntington’s	debt	and	to	pay	dividends	to	
Huntington’s	shareholders.		The	availability	of	dividends	from	the	Bank	is	limited	by	various	statutes	and	regulations.		
Huntington’s	shareholders.		The	availability	of	dividends	from	the	Bank	is	limited	by	various	statutes	and	regulations.		
It	is	possible,	depending	upon	the	financial	condition	including	liquidity	and	capital	adequacy	of	the	Bank	and	other	
It	is	possible,	depending	upon	the	financial	condition	including	liquidity	and	capital	adequacy	of	the	Bank	and	other	
factors,	that	the	OCC	could	limit	the	payment	of	dividends	or	other	payments	to	Huntington	by	the	Bank.		In	
factors,	that	the	OCC	could	limit	the	payment	of	dividends	or	other	payments	to	Huntington	by	the	Bank.		In	
addition,	the	payment	of	dividends	by	our	other	subsidiaries	is	also	subject	to	the	laws	of	the	subsidiary’s	state	of	
addition,	the	payment	of	dividends	by	our	other	subsidiaries	is	also	subject	to	the	laws	of	the	subsidiary’s	state	of	
incorporation,	and	regulatory	capital	and	liquidity	requirements	applicable	to	such	subsidiaries.		In	the	event	that	
incorporation,	and	regulatory	capital	and	liquidity	requirements	applicable	to	such	subsidiaries.		In	the	event	that	
the	Bank	was	unable	to	pay	dividends	to	us,	we	in	turn	would	likely	have	to	reduce	or	stop	paying	dividends	on	our	
the	Bank	was	unable	to	pay	dividends	to	us,	we	in	turn	would	likely	have	to	reduce	or	stop	paying	dividends	on	our	
Preferred	and	Common	Stock.		Our	failure	to	pay	dividends	on	our	Preferred	and	Common	Stock	could	have	a	
Preferred	and	Common	Stock.		Our	failure	to	pay	dividends	on	our	Preferred	and	Common	Stock	could	have	a	
material	adverse	effect	on	the	market	price	of	our	Preferred	and	Common	Stock.		Additional	information	regarding	
material	adverse	effect	on	the	market	price	of	our	Preferred	and	Common	Stock.		Additional	information	regarding	
dividend	restrictions	is	provided	in	Item	1:	Business	-	Regulatory	Matters.
dividend	restrictions	is	provided	in	Item	1:	Business	-	Regulatory	Matters.

If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	depositors,	
If	we	lose	access	to	capital	markets,	we	may	not	be	able	to	meet	the	cash	flow	requirements	of	our	depositors,	
creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	other	corporate	
creditors,	and	borrowers,	or	have	the	operating	cash	needed	to	fund	corporate	expansion	and	other	corporate	
activities.
activities.

Wholesale	funding	sources	can	include	securitization,	federal	funds	purchased,	securities	sold	under	repurchase	
Wholesale	funding	sources	can	include	securitization,	federal	funds	purchased,	securities	sold	under	repurchase	

agreements,	non-core	deposits,	and	long-term	debt.		The	Bank	is	also	a	member	of	the	FHLB,	which	provides	
agreements,	non-core	deposits,	and	long-term	debt.		The	Bank	is	also	a	member	of	the	FHLB,	which	provides	
members	access	to	funding	through	advances	collateralized	with	mortgage-related	assets.		We	maintain	a	portfolio	
members	access	to	funding	through	advances	collateralized	with	mortgage-related	assets.		We	maintain	a	portfolio	
of	highly-rated,	marketable	securities	that	is	available	as	a	source	of	liquidity.
of	highly-rated,	marketable	securities	that	is	available	as	a	source	of	liquidity.

Capital	markets	disruptions	can	directly	impact	the	liquidity	of	Huntington	and	the	Bank.		The	inability	to	access	
Capital	markets	disruptions	can	directly	impact	the	liquidity	of	Huntington	and	the	Bank.		The	inability	to	access	

capital	markets	funding	sources	as	needed	could	adversely	impact	our	financial	condition,	results	of	operations,	cash	
capital	markets	funding	sources	as	needed	could	adversely	impact	our	financial	condition,	results	of	operations,	cash	
flows,	and	level	of	regulatory-qualifying	capital.		We	may,	from	time-to-time,	consider	using	our	existing	liquidity	
flows,	and	level	of	regulatory-qualifying	capital.		We	may,	from	time-to-time,	consider	using	our	existing	liquidity	
position	to	opportunistically	retire	outstanding	securities	in	privately	negotiated	or	open	market	transactions.
position	to	opportunistically	retire	outstanding	securities	in	privately	negotiated	or	open	market	transactions.

2020	Form	10-K					31
2020	Form	10-K					31

A	reduction	in	our	credit	rating	could	adversely	affect	our	access	to	capital	and	could	increase	our	cost	of	funds.
A	reduction	in	our	credit	rating	could	adversely	affect	our	access	to	capital	and	could	increase	our	cost	of	funds.

We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	

We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	

The	credit	rating	agencies	regularly	evaluate	Huntington	and	the	Bank,	and	credit	ratings	are	based	on	a	number	
The	credit	rating	agencies	regularly	evaluate	Huntington	and	the	Bank,	and	credit	ratings	are	based	on	a	number	
of	factors,	including	our	financial	strength	and	ability	to	generate	earnings,	as	well	as	factors	not	entirely	within	our	
of	factors,	including	our	financial	strength	and	ability	to	generate	earnings,	as	well	as	factors	not	entirely	within	our	
control,	including	conditions	affecting	the	financial	services	industry,	the	economy,	and	changes	in	rating	
control,	including	conditions	affecting	the	financial	services	industry,	the	economy,	and	changes	in	rating	
methodologies.		There	can	be	no	assurance	that	we	will	maintain	our	current	credit	ratings.		A	downgrade	of	the	
methodologies.		There	can	be	no	assurance	that	we	will	maintain	our	current	credit	ratings.		A	downgrade	of	the	
credit	ratings	of	Huntington	or	the	Bank	could	adversely	affect	our	access	to	liquidity	and	capital,	and	could	
credit	ratings	of	Huntington	or	the	Bank	could	adversely	affect	our	access	to	liquidity	and	capital,	and	could	
significantly	increase	our	cost	of	funds,	trigger	additional	collateral	or	funding	requirements,	and	decrease	the	
significantly	increase	our	cost	of	funds,	trigger	additional	collateral	or	funding	requirements,	and	decrease	the	
number	of	investors	and	counterparties	willing	to	lend	to	us	or	purchase	our	securities.		This	could	affect	our	growth,	
number	of	investors	and	counterparties	willing	to	lend	to	us	or	purchase	our	securities.		This	could	affect	our	growth,	
profitability,	and	financial	condition,	including	liquidity.
profitability,	and	financial	condition,	including	liquidity.

Operational	Risks:
Operational	Risks:

Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	which	
Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	which	
could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	
could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	
legal	or	reputational	harm.
legal	or	reputational	harm.

The	potential	for	operational	risk	exposure	exists	throughout	our	business	and,	as	a	result	of	our	interactions	
The	potential	for	operational	risk	exposure	exists	throughout	our	business	and,	as	a	result	of	our	interactions	
with,	and	reliance	on,	third	parties,	is	not	limited	to	our	own	internal	operational	functions.		Our	operational	and	
with,	and	reliance	on,	third	parties,	is	not	limited	to	our	own	internal	operational	functions.		Our	operational	and	
security	systems	and	infrastructure,	including	our	computer	systems,	data	management,	and	internal	processes,	as	
security	systems	and	infrastructure,	including	our	computer	systems,	data	management,	and	internal	processes,	as	
well	as	those	of	third	parties,	are	integral	to	our	performance.		We	rely	on	our	employees	and	third	parties	in	our	
well	as	those	of	third	parties,	are	integral	to	our	performance.		We	rely	on	our	employees	and	third	parties	in	our	
day-to-day	and	ongoing	operations,	who	may,	as	a	result	of	human	error,	misconduct,	malfeasance,	failure,	or	
day-to-day	and	ongoing	operations,	who	may,	as	a	result	of	human	error,	misconduct,	malfeasance,	failure,	or	
breach	of	our	or	of	third-party	systems	or	infrastructure,	expose	us	to	risk.		For	example,	our	ability	to	conduct	
breach	of	our	or	of	third-party	systems	or	infrastructure,	expose	us	to	risk.		For	example,	our	ability	to	conduct	
business	may	be	adversely	affected	by	any	significant	disruptions	to	us	or	to	third	parties	with	whom	we	interact	or	
business	may	be	adversely	affected	by	any	significant	disruptions	to	us	or	to	third	parties	with	whom	we	interact	or	
upon	whom	we	rely.		Our	financial,	accounting,	data	processing,	backup,	or	other	operating	or	security	systems	and	
upon	whom	we	rely.		Our	financial,	accounting,	data	processing,	backup,	or	other	operating	or	security	systems	and	
infrastructure	may	fail	to	operate	properly	or	become	disabled	or	damaged	as	a	result	of	a	number	of	factors,	
infrastructure	may	fail	to	operate	properly	or	become	disabled	or	damaged	as	a	result	of	a	number	of	factors,	
including	events	that	are	wholly	or	partially	beyond	our	control,	which	could	adversely	affect	our	ability	to	process	
including	events	that	are	wholly	or	partially	beyond	our	control,	which	could	adversely	affect	our	ability	to	process	
transactions	or	provide	services.		Such	events	may	include:	sudden	increases	in	customer	transaction	volume;	
transactions	or	provide	services.		Such	events	may	include:	sudden	increases	in	customer	transaction	volume;	
electrical,	telecommunications,	or	other	major	physical	infrastructure	outages;	disease	pandemics;	cyber-attacks;	
electrical,	telecommunications,	or	other	major	physical	infrastructure	outages;	disease	pandemics;	cyber-attacks;	
and	events	arising	from	local	or	larger	scale	political	or	social	matters,	including	wars	and	terrorist	attacks.		
and	events	arising	from	local	or	larger	scale	political	or	social	matters,	including	wars	and	terrorist	attacks.		
Additional	events	beyond	our	control	that	could	impact	our	business	directly	or	indirectly	include	natural	disasters	
Additional	events	beyond	our	control	that	could	impact	our	business	directly	or	indirectly	include	natural	disasters	
such	as	earthquakes	and	weather	events,	including	tornadoes,	hurricanes	and	floods.		Neither	the	occurrence	nor	
such	as	earthquakes	and	weather	events,	including	tornadoes,	hurricanes	and	floods.		Neither	the	occurrence	nor	
the	potential	impact	of	these	events	can	be	predicted,	and	the	frequency	and	severity	of	weather	events	may	be	
the	potential	impact	of	these	events	can	be	predicted,	and	the	frequency	and	severity	of	weather	events	may	be	
impacted	by	climate	changes.		In	addition,	we	may	need	to	take	our	systems	off-line	if	they	become	infected	with	
impacted	by	climate	changes.		In	addition,	we	may	need	to	take	our	systems	off-line	if	they	become	infected	with	
malware	or	a	computer	virus	or	as	a	result	of	another	form	of	cyber-attack.		In	the	event	that	backup	systems	are	
malware	or	a	computer	virus	or	as	a	result	of	another	form	of	cyber-attack.		In	the	event	that	backup	systems	are	
utilized,	they	may	not	process	data	as	quickly	as	our	primary	systems	and	some	data	might	not	have	been	saved	to	
utilized,	they	may	not	process	data	as	quickly	as	our	primary	systems	and	some	data	might	not	have	been	saved	to	
backup	systems,	potentially	resulting	in	a	temporary	or	permanent	loss	of	such	data.		In	addition,	our	ability	to	
backup	systems,	potentially	resulting	in	a	temporary	or	permanent	loss	of	such	data.		In	addition,	our	ability	to	
implement	backup	systems	and	other	safeguards	with	respect	to	third-party	systems	is	more	limited	than	with	
implement	backup	systems	and	other	safeguards	with	respect	to	third-party	systems	is	more	limited	than	with	
respect	to	our	own	systems.		We	frequently	update	our	systems	to	support	our	operations	and	growth	and	to	
respect	to	our	own	systems.		We	frequently	update	our	systems	to	support	our	operations	and	growth	and	to	
remain	compliant	with	applicable	laws,	rules,	and	regulations.		This	updating	entails	significant	costs	and	creates	
remain	compliant	with	applicable	laws,	rules,	and	regulations.		This	updating	entails	significant	costs	and	creates	
risks	associated	with	implementing	new	systems	and	integrating	them	with	existing	ones,	including	business	
risks	associated	with	implementing	new	systems	and	integrating	them	with	existing	ones,	including	business	
interruptions.		Implementation	and	testing	of	controls	related	to	our	computer	systems,	security	monitoring,	and	
interruptions.		Implementation	and	testing	of	controls	related	to	our	computer	systems,	security	monitoring,	and	
retaining	and	training	personnel	required	to	operate	our	systems	also	entail	significant	costs.		Operational	risk	
retaining	and	training	personnel	required	to	operate	our	systems	also	entail	significant	costs.		Operational	risk	
exposures	could	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	reputational	
exposures	could	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	reputational	
harm.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	major	
harm.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	major	
interruption.
interruption.

colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	result	in	

colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	result	in	

the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	significant	legal	

the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	significant	legal	

and	financial	exposure.

and	financial	exposure.

Our	computer	systems	and	network	infrastructure	and	those	of	third	parties,	on	which	we	are	highly	dependent,	

Our	computer	systems	and	network	infrastructure	and	those	of	third	parties,	on	which	we	are	highly	dependent,	

are	subject	to	security	risks	and	could	be	susceptible	to	cyber-attacks,	such	as	denial	of	service	attacks,	hacking,	

are	subject	to	security	risks	and	could	be	susceptible	to	cyber-attacks,	such	as	denial	of	service	attacks,	hacking,	

terrorist	activities,	or	identity	theft.		Our	business	relies	on	the	secure	processing,	transmission,	storage,	and	

terrorist	activities,	or	identity	theft.		Our	business	relies	on	the	secure	processing,	transmission,	storage,	and	

retrieval	of	confidential,	proprietary,	and	other	information	in	our	computer	and	data	management	systems	and	

retrieval	of	confidential,	proprietary,	and	other	information	in	our	computer	and	data	management	systems	and	

networks,	and	in	the	computer	and	data	management	systems	and	networks	of	third	parties.		In	addition,	to	access	

networks,	and	in	the	computer	and	data	management	systems	and	networks	of	third	parties.		In	addition,	to	access	

our	network,	products,	and	services,	our	customers	and	other	third	parties	may	use	personal	mobile	devices	or	

our	network,	products,	and	services,	our	customers	and	other	third	parties	may	use	personal	mobile	devices	or	

computing	devices	that	are	outside	of	our	network	environment	and	are	subject	to	their	own	cybersecurity	risks.

computing	devices	that	are	outside	of	our	network	environment	and	are	subject	to	their	own	cybersecurity	risks.

We,	our	customers,	regulators,	and	other	third	parties,	including	other	financial	services	institutions	and	

We,	our	customers,	regulators,	and	other	third	parties,	including	other	financial	services	institutions	and	

companies	engaged	in	data	processing,	have	been	subject	to,	and	are	likely	to	continue	to	be	the	target	of,	cyber-

companies	engaged	in	data	processing,	have	been	subject	to,	and	are	likely	to	continue	to	be	the	target	of,	cyber-

attacks.		These	cyber-attacks	include	computer	viruses,	malicious	or	destructive	code,	phishing	attacks,	denial	of	

attacks.		These	cyber-attacks	include	computer	viruses,	malicious	or	destructive	code,	phishing	attacks,	denial	of	

service	or	information,	ransomware,	improper	access	by	employees	or	vendors,	attacks	on	personal	email	of	

service	or	information,	ransomware,	improper	access	by	employees	or	vendors,	attacks	on	personal	email	of	

employees,	ransom	demands	to	not	expose	security	vulnerabilities	in	our	systems	or	the	systems	of	third	parties	or	

employees,	ransom	demands	to	not	expose	security	vulnerabilities	in	our	systems	or	the	systems	of	third	parties	or	

other	security	breaches	that	could	result	in	the	unauthorized	release,	gathering,	monitoring,	misuse,	loss,	or	

other	security	breaches	that	could	result	in	the	unauthorized	release,	gathering,	monitoring,	misuse,	loss,	or	

destruction	of	confidential,	proprietary,	and	other	information	of	ours,	our	employees,	our	customers,	or	of	third	

destruction	of	confidential,	proprietary,	and	other	information	of	ours,	our	employees,	our	customers,	or	of	third	

parties,	damage	our	systems	or	otherwise	materially	disrupt	our	or	our	customers’	or	other	third	parties’	network	

parties,	damage	our	systems	or	otherwise	materially	disrupt	our	or	our	customers’	or	other	third	parties’	network	

access	or	business	operations.		As	cyber-threats	continue	to	evolve,	we	may	be	required	to	expend	significant	

access	or	business	operations.		As	cyber-threats	continue	to	evolve,	we	may	be	required	to	expend	significant	

additional	resources	to	continue	to	modify	or	enhance	our	protective	measures	or	to	investigate	and	remediate	any	

additional	resources	to	continue	to	modify	or	enhance	our	protective	measures	or	to	investigate	and	remediate	any	

information	security	vulnerabilities	or	incidents.		Despite	efforts	to	ensure	the	integrity	of	our	systems	and	

information	security	vulnerabilities	or	incidents.		Despite	efforts	to	ensure	the	integrity	of	our	systems	and	

implement	controls,	processes,	policies,	and	other	protective	measures,	we	may	not	be	able	to	anticipate	all	security	

implement	controls,	processes,	policies,	and	other	protective	measures,	we	may	not	be	able	to	anticipate	all	security	

breaches,	nor	may	we	be	able	to	implement	sufficient	preventive	measures	against	such	security	breaches,	which	

breaches,	nor	may	we	be	able	to	implement	sufficient	preventive	measures	against	such	security	breaches,	which	

may	result	in	material	losses	or	consequences	for	us.

may	result	in	material	losses	or	consequences	for	us.

Cybersecurity	risks	for	banking	organizations	have	significantly	increased	in	recent	years	in	part	because	of	the	

Cybersecurity	risks	for	banking	organizations	have	significantly	increased	in	recent	years	in	part	because	of	the	

proliferation	of	new	technologies,	and	the	use	of	the	internet	and	telecommunications	technologies	to	conduct	

proliferation	of	new	technologies,	and	the	use	of	the	internet	and	telecommunications	technologies	to	conduct	

financial	transactions.		For	example,	cybersecurity	risks	may	increase	in	the	future	as	we	continue	to	increase	our	

financial	transactions.		For	example,	cybersecurity	risks	may	increase	in	the	future	as	we	continue	to	increase	our	

mobile-payment	and	other	internet-based	product	offerings	and	expand	our	internal	usage	of	web-based	products	

mobile-payment	and	other	internet-based	product	offerings	and	expand	our	internal	usage	of	web-based	products	

and	applications.		In	addition,	cybersecurity	risks	have	significantly	increased	in	recent	years	in	part	due	to	the	

and	applications.		In	addition,	cybersecurity	risks	have	significantly	increased	in	recent	years	in	part	due	to	the	

increased	sophistication	and	activities	of	organized	crime	affiliates,	terrorist	organizations,	hostile	foreign	

increased	sophistication	and	activities	of	organized	crime	affiliates,	terrorist	organizations,	hostile	foreign	

governments,	disgruntled	employees	or	vendors,	activists,	and	other	external	parties,	including	those	involved	in	

governments,	disgruntled	employees	or	vendors,	activists,	and	other	external	parties,	including	those	involved	in	

corporate	espionage.		Even	the	most	advanced	internal	control	environment	may	be	vulnerable	to	compromise.		

corporate	espionage.		Even	the	most	advanced	internal	control	environment	may	be	vulnerable	to	compromise.		

Due	to	increasing	geopolitical	tensions,	nation	state	cyber	attacks	and	ransomware	are	both	increasing	in	

Due	to	increasing	geopolitical	tensions,	nation	state	cyber	attacks	and	ransomware	are	both	increasing	in	

sophistication	and	prevalence.		Targeted	social	engineering	and	email	attacks	(i.e.	“spear	phishing”	attacks)	are	

sophistication	and	prevalence.		Targeted	social	engineering	and	email	attacks	(i.e.	“spear	phishing”	attacks)	are	

becoming	more	sophisticated	and	are	extremely	difficult	to	prevent.		In	such	an	attack,	an	attacker	will	attempt	to	

becoming	more	sophisticated	and	are	extremely	difficult	to	prevent.		In	such	an	attack,	an	attacker	will	attempt	to	

fraudulently	induce	colleagues,	customers,	or	other	users	of	our	systems	to	disclose	sensitive	information	in	order	to	

fraudulently	induce	colleagues,	customers,	or	other	users	of	our	systems	to	disclose	sensitive	information	in	order	to	

gain	access	to	its	data	or	that	of	its	clients.		Persistent	attackers	may	succeed	in	penetrating	defenses	given	enough	

gain	access	to	its	data	or	that	of	its	clients.		Persistent	attackers	may	succeed	in	penetrating	defenses	given	enough	

resources,	time,	and	motive.		The	techniques	used	by	cyber	criminals	change	frequently,	may	not	be	recognized	until	

resources,	time,	and	motive.		The	techniques	used	by	cyber	criminals	change	frequently,	may	not	be	recognized	until	

launched,	and	may	not	be	recognized	until	well	after	a	breach	has	occurred.		The	speed	at	which	new	vulnerabilities	

launched,	and	may	not	be	recognized	until	well	after	a	breach	has	occurred.		The	speed	at	which	new	vulnerabilities	

are	discovered	and	exploited	often	before	security	patches	are	published	continues	to	rise.		The	risk	of	a	security	

are	discovered	and	exploited	often	before	security	patches	are	published	continues	to	rise.		The	risk	of	a	security	

breach	caused	by	a	cyber-attack	at	a	vendor	or	by	unauthorized	vendor	access	has	also	increased	in	recent	years.		

breach	caused	by	a	cyber-attack	at	a	vendor	or	by	unauthorized	vendor	access	has	also	increased	in	recent	years.		

Additionally,	the	existence	of	cyber-attacks	or	security	breaches	at	third-party	vendors	with	access	to	our	data	may	

Additionally,	the	existence	of	cyber-attacks	or	security	breaches	at	third-party	vendors	with	access	to	our	data	may	

not	be	disclosed	to	us	in	a	timely	manner.

not	be	disclosed	to	us	in	a	timely	manner.

We	also	face	indirect	technology,	cybersecurity,	and	operational	risks	relating	to	the	customers,	clients,	and	

We	also	face	indirect	technology,	cybersecurity,	and	operational	risks	relating	to	the	customers,	clients,	and	

other	third	parties	with	whom	we	do	business	or	upon	whom	we	rely	to	facilitate	or	enable	our	business	activities,	

other	third	parties	with	whom	we	do	business	or	upon	whom	we	rely	to	facilitate	or	enable	our	business	activities,	

including,	for	example,	financial	counterparties,	regulators,	and	providers	of	critical	infrastructure	such	as	internet	

including,	for	example,	financial	counterparties,	regulators,	and	providers	of	critical	infrastructure	such	as	internet	

access	and	electrical	power.		As	a	result	of	increasing	consolidation,	interdependence,	and	complexity	of	financial	

access	and	electrical	power.		As	a	result	of	increasing	consolidation,	interdependence,	and	complexity	of	financial	

entities	and	technology	systems,	a	technology	failure,	cyber-attack,	or	other	information	or	security	breach	that	

entities	and	technology	systems,	a	technology	failure,	cyber-attack,	or	other	information	or	security	breach	that	

significantly	degrades,	deletes,	or	compromises	the	systems	or	data	of	one	or	more	financial	entities	could	have	a	

significantly	degrades,	deletes,	or	compromises	the	systems	or	data	of	one	or	more	financial	entities	could	have	a	

material	impact	on	counterparties	or	other	market	participants,	including	us.		This	consolidation,	interconnectivity,	

material	impact	on	counterparties	or	other	market	participants,	including	us.		This	consolidation,	interconnectivity,	

32					Huntington	Bancshares	Incorporated
32					Huntington	Bancshares	Incorporated

2020	Form	10-K					33

2020	Form	10-K					33

A	reduction	in	our	credit	rating	could	adversely	affect	our	access	to	capital	and	could	increase	our	cost	of	funds.

A	reduction	in	our	credit	rating	could	adversely	affect	our	access	to	capital	and	could	increase	our	cost	of	funds.

The	credit	rating	agencies	regularly	evaluate	Huntington	and	the	Bank,	and	credit	ratings	are	based	on	a	number	

The	credit	rating	agencies	regularly	evaluate	Huntington	and	the	Bank,	and	credit	ratings	are	based	on	a	number	

of	factors,	including	our	financial	strength	and	ability	to	generate	earnings,	as	well	as	factors	not	entirely	within	our	

of	factors,	including	our	financial	strength	and	ability	to	generate	earnings,	as	well	as	factors	not	entirely	within	our	

control,	including	conditions	affecting	the	financial	services	industry,	the	economy,	and	changes	in	rating	

control,	including	conditions	affecting	the	financial	services	industry,	the	economy,	and	changes	in	rating	

We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	
We	face	security	risks,	including	denial	of	service	attacks,	hacking,	social	engineering	attacks	targeting	our	
colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	result	in	
colleagues	and	customers,	malware	intrusion	or	data	corruption	attempts,	and	identity	theft	that	could	result	in	
the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	significant	legal	
the	disclosure	of	confidential	information,	adversely	affect	our	business	or	reputation,	and	create	significant	legal	
and	financial	exposure.
and	financial	exposure.

methodologies.		There	can	be	no	assurance	that	we	will	maintain	our	current	credit	ratings.		A	downgrade	of	the	

methodologies.		There	can	be	no	assurance	that	we	will	maintain	our	current	credit	ratings.		A	downgrade	of	the	

Our	computer	systems	and	network	infrastructure	and	those	of	third	parties,	on	which	we	are	highly	dependent,	
Our	computer	systems	and	network	infrastructure	and	those	of	third	parties,	on	which	we	are	highly	dependent,	

credit	ratings	of	Huntington	or	the	Bank	could	adversely	affect	our	access	to	liquidity	and	capital,	and	could	

credit	ratings	of	Huntington	or	the	Bank	could	adversely	affect	our	access	to	liquidity	and	capital,	and	could	

significantly	increase	our	cost	of	funds,	trigger	additional	collateral	or	funding	requirements,	and	decrease	the	

significantly	increase	our	cost	of	funds,	trigger	additional	collateral	or	funding	requirements,	and	decrease	the	

number	of	investors	and	counterparties	willing	to	lend	to	us	or	purchase	our	securities.		This	could	affect	our	growth,	

number	of	investors	and	counterparties	willing	to	lend	to	us	or	purchase	our	securities.		This	could	affect	our	growth,	

profitability,	and	financial	condition,	including	liquidity.

profitability,	and	financial	condition,	including	liquidity.

Operational	Risks:

Operational	Risks:

legal	or	reputational	harm.

legal	or	reputational	harm.

Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	which	

Our	operational	or	security	systems	or	infrastructure,	or	those	of	third	parties,	could	fail	or	be	breached,	which	

could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	

could	disrupt	our	business	and	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	

The	potential	for	operational	risk	exposure	exists	throughout	our	business	and,	as	a	result	of	our	interactions	

The	potential	for	operational	risk	exposure	exists	throughout	our	business	and,	as	a	result	of	our	interactions	

with,	and	reliance	on,	third	parties,	is	not	limited	to	our	own	internal	operational	functions.		Our	operational	and	

with,	and	reliance	on,	third	parties,	is	not	limited	to	our	own	internal	operational	functions.		Our	operational	and	

security	systems	and	infrastructure,	including	our	computer	systems,	data	management,	and	internal	processes,	as	

security	systems	and	infrastructure,	including	our	computer	systems,	data	management,	and	internal	processes,	as	

well	as	those	of	third	parties,	are	integral	to	our	performance.		We	rely	on	our	employees	and	third	parties	in	our	

well	as	those	of	third	parties,	are	integral	to	our	performance.		We	rely	on	our	employees	and	third	parties	in	our	

day-to-day	and	ongoing	operations,	who	may,	as	a	result	of	human	error,	misconduct,	malfeasance,	failure,	or	

day-to-day	and	ongoing	operations,	who	may,	as	a	result	of	human	error,	misconduct,	malfeasance,	failure,	or	

breach	of	our	or	of	third-party	systems	or	infrastructure,	expose	us	to	risk.		For	example,	our	ability	to	conduct	

breach	of	our	or	of	third-party	systems	or	infrastructure,	expose	us	to	risk.		For	example,	our	ability	to	conduct	

business	may	be	adversely	affected	by	any	significant	disruptions	to	us	or	to	third	parties	with	whom	we	interact	or	

business	may	be	adversely	affected	by	any	significant	disruptions	to	us	or	to	third	parties	with	whom	we	interact	or	

upon	whom	we	rely.		Our	financial,	accounting,	data	processing,	backup,	or	other	operating	or	security	systems	and	

upon	whom	we	rely.		Our	financial,	accounting,	data	processing,	backup,	or	other	operating	or	security	systems	and	

infrastructure	may	fail	to	operate	properly	or	become	disabled	or	damaged	as	a	result	of	a	number	of	factors,	

infrastructure	may	fail	to	operate	properly	or	become	disabled	or	damaged	as	a	result	of	a	number	of	factors,	

including	events	that	are	wholly	or	partially	beyond	our	control,	which	could	adversely	affect	our	ability	to	process	

including	events	that	are	wholly	or	partially	beyond	our	control,	which	could	adversely	affect	our	ability	to	process	

transactions	or	provide	services.		Such	events	may	include:	sudden	increases	in	customer	transaction	volume;	

transactions	or	provide	services.		Such	events	may	include:	sudden	increases	in	customer	transaction	volume;	

electrical,	telecommunications,	or	other	major	physical	infrastructure	outages;	disease	pandemics;	cyber-attacks;	

electrical,	telecommunications,	or	other	major	physical	infrastructure	outages;	disease	pandemics;	cyber-attacks;	

and	events	arising	from	local	or	larger	scale	political	or	social	matters,	including	wars	and	terrorist	attacks.		

and	events	arising	from	local	or	larger	scale	political	or	social	matters,	including	wars	and	terrorist	attacks.		

Additional	events	beyond	our	control	that	could	impact	our	business	directly	or	indirectly	include	natural	disasters	

Additional	events	beyond	our	control	that	could	impact	our	business	directly	or	indirectly	include	natural	disasters	

such	as	earthquakes	and	weather	events,	including	tornadoes,	hurricanes	and	floods.		Neither	the	occurrence	nor	

such	as	earthquakes	and	weather	events,	including	tornadoes,	hurricanes	and	floods.		Neither	the	occurrence	nor	

the	potential	impact	of	these	events	can	be	predicted,	and	the	frequency	and	severity	of	weather	events	may	be	

the	potential	impact	of	these	events	can	be	predicted,	and	the	frequency	and	severity	of	weather	events	may	be	

impacted	by	climate	changes.		In	addition,	we	may	need	to	take	our	systems	off-line	if	they	become	infected	with	

impacted	by	climate	changes.		In	addition,	we	may	need	to	take	our	systems	off-line	if	they	become	infected	with	

malware	or	a	computer	virus	or	as	a	result	of	another	form	of	cyber-attack.		In	the	event	that	backup	systems	are	

malware	or	a	computer	virus	or	as	a	result	of	another	form	of	cyber-attack.		In	the	event	that	backup	systems	are	

utilized,	they	may	not	process	data	as	quickly	as	our	primary	systems	and	some	data	might	not	have	been	saved	to	

utilized,	they	may	not	process	data	as	quickly	as	our	primary	systems	and	some	data	might	not	have	been	saved	to	

backup	systems,	potentially	resulting	in	a	temporary	or	permanent	loss	of	such	data.		In	addition,	our	ability	to	

backup	systems,	potentially	resulting	in	a	temporary	or	permanent	loss	of	such	data.		In	addition,	our	ability	to	

implement	backup	systems	and	other	safeguards	with	respect	to	third-party	systems	is	more	limited	than	with	

implement	backup	systems	and	other	safeguards	with	respect	to	third-party	systems	is	more	limited	than	with	

respect	to	our	own	systems.		We	frequently	update	our	systems	to	support	our	operations	and	growth	and	to	

respect	to	our	own	systems.		We	frequently	update	our	systems	to	support	our	operations	and	growth	and	to	

remain	compliant	with	applicable	laws,	rules,	and	regulations.		This	updating	entails	significant	costs	and	creates	

remain	compliant	with	applicable	laws,	rules,	and	regulations.		This	updating	entails	significant	costs	and	creates	

risks	associated	with	implementing	new	systems	and	integrating	them	with	existing	ones,	including	business	

risks	associated	with	implementing	new	systems	and	integrating	them	with	existing	ones,	including	business	

interruptions.		Implementation	and	testing	of	controls	related	to	our	computer	systems,	security	monitoring,	and	

interruptions.		Implementation	and	testing	of	controls	related	to	our	computer	systems,	security	monitoring,	and	

retaining	and	training	personnel	required	to	operate	our	systems	also	entail	significant	costs.		Operational	risk	

retaining	and	training	personnel	required	to	operate	our	systems	also	entail	significant	costs.		Operational	risk	

exposures	could	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	reputational	

exposures	could	adversely	impact	our	operations,	liquidity,	and	financial	condition,	as	well	as	cause	reputational	

harm.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	major	

harm.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	major	

interruption.

interruption.

are	subject	to	security	risks	and	could	be	susceptible	to	cyber-attacks,	such	as	denial	of	service	attacks,	hacking,	
are	subject	to	security	risks	and	could	be	susceptible	to	cyber-attacks,	such	as	denial	of	service	attacks,	hacking,	
terrorist	activities,	or	identity	theft.		Our	business	relies	on	the	secure	processing,	transmission,	storage,	and	
terrorist	activities,	or	identity	theft.		Our	business	relies	on	the	secure	processing,	transmission,	storage,	and	
retrieval	of	confidential,	proprietary,	and	other	information	in	our	computer	and	data	management	systems	and	
retrieval	of	confidential,	proprietary,	and	other	information	in	our	computer	and	data	management	systems	and	
networks,	and	in	the	computer	and	data	management	systems	and	networks	of	third	parties.		In	addition,	to	access	
networks,	and	in	the	computer	and	data	management	systems	and	networks	of	third	parties.		In	addition,	to	access	
our	network,	products,	and	services,	our	customers	and	other	third	parties	may	use	personal	mobile	devices	or	
our	network,	products,	and	services,	our	customers	and	other	third	parties	may	use	personal	mobile	devices	or	
computing	devices	that	are	outside	of	our	network	environment	and	are	subject	to	their	own	cybersecurity	risks.
computing	devices	that	are	outside	of	our	network	environment	and	are	subject	to	their	own	cybersecurity	risks.

We,	our	customers,	regulators,	and	other	third	parties,	including	other	financial	services	institutions	and	
We,	our	customers,	regulators,	and	other	third	parties,	including	other	financial	services	institutions	and	
companies	engaged	in	data	processing,	have	been	subject	to,	and	are	likely	to	continue	to	be	the	target	of,	cyber-
companies	engaged	in	data	processing,	have	been	subject	to,	and	are	likely	to	continue	to	be	the	target	of,	cyber-
attacks.		These	cyber-attacks	include	computer	viruses,	malicious	or	destructive	code,	phishing	attacks,	denial	of	
attacks.		These	cyber-attacks	include	computer	viruses,	malicious	or	destructive	code,	phishing	attacks,	denial	of	
service	or	information,	ransomware,	improper	access	by	employees	or	vendors,	attacks	on	personal	email	of	
service	or	information,	ransomware,	improper	access	by	employees	or	vendors,	attacks	on	personal	email	of	
employees,	ransom	demands	to	not	expose	security	vulnerabilities	in	our	systems	or	the	systems	of	third	parties	or	
employees,	ransom	demands	to	not	expose	security	vulnerabilities	in	our	systems	or	the	systems	of	third	parties	or	
other	security	breaches	that	could	result	in	the	unauthorized	release,	gathering,	monitoring,	misuse,	loss,	or	
other	security	breaches	that	could	result	in	the	unauthorized	release,	gathering,	monitoring,	misuse,	loss,	or	
destruction	of	confidential,	proprietary,	and	other	information	of	ours,	our	employees,	our	customers,	or	of	third	
destruction	of	confidential,	proprietary,	and	other	information	of	ours,	our	employees,	our	customers,	or	of	third	
parties,	damage	our	systems	or	otherwise	materially	disrupt	our	or	our	customers’	or	other	third	parties’	network	
parties,	damage	our	systems	or	otherwise	materially	disrupt	our	or	our	customers’	or	other	third	parties’	network	
access	or	business	operations.		As	cyber-threats	continue	to	evolve,	we	may	be	required	to	expend	significant	
access	or	business	operations.		As	cyber-threats	continue	to	evolve,	we	may	be	required	to	expend	significant	
additional	resources	to	continue	to	modify	or	enhance	our	protective	measures	or	to	investigate	and	remediate	any	
additional	resources	to	continue	to	modify	or	enhance	our	protective	measures	or	to	investigate	and	remediate	any	
information	security	vulnerabilities	or	incidents.		Despite	efforts	to	ensure	the	integrity	of	our	systems	and	
information	security	vulnerabilities	or	incidents.		Despite	efforts	to	ensure	the	integrity	of	our	systems	and	
implement	controls,	processes,	policies,	and	other	protective	measures,	we	may	not	be	able	to	anticipate	all	security	
implement	controls,	processes,	policies,	and	other	protective	measures,	we	may	not	be	able	to	anticipate	all	security	
breaches,	nor	may	we	be	able	to	implement	sufficient	preventive	measures	against	such	security	breaches,	which	
breaches,	nor	may	we	be	able	to	implement	sufficient	preventive	measures	against	such	security	breaches,	which	
may	result	in	material	losses	or	consequences	for	us.
may	result	in	material	losses	or	consequences	for	us.

Cybersecurity	risks	for	banking	organizations	have	significantly	increased	in	recent	years	in	part	because	of	the	
Cybersecurity	risks	for	banking	organizations	have	significantly	increased	in	recent	years	in	part	because	of	the	

proliferation	of	new	technologies,	and	the	use	of	the	internet	and	telecommunications	technologies	to	conduct	
proliferation	of	new	technologies,	and	the	use	of	the	internet	and	telecommunications	technologies	to	conduct	
financial	transactions.		For	example,	cybersecurity	risks	may	increase	in	the	future	as	we	continue	to	increase	our	
financial	transactions.		For	example,	cybersecurity	risks	may	increase	in	the	future	as	we	continue	to	increase	our	
mobile-payment	and	other	internet-based	product	offerings	and	expand	our	internal	usage	of	web-based	products	
mobile-payment	and	other	internet-based	product	offerings	and	expand	our	internal	usage	of	web-based	products	
and	applications.		In	addition,	cybersecurity	risks	have	significantly	increased	in	recent	years	in	part	due	to	the	
and	applications.		In	addition,	cybersecurity	risks	have	significantly	increased	in	recent	years	in	part	due	to	the	
increased	sophistication	and	activities	of	organized	crime	affiliates,	terrorist	organizations,	hostile	foreign	
increased	sophistication	and	activities	of	organized	crime	affiliates,	terrorist	organizations,	hostile	foreign	
governments,	disgruntled	employees	or	vendors,	activists,	and	other	external	parties,	including	those	involved	in	
governments,	disgruntled	employees	or	vendors,	activists,	and	other	external	parties,	including	those	involved	in	
corporate	espionage.		Even	the	most	advanced	internal	control	environment	may	be	vulnerable	to	compromise.		
corporate	espionage.		Even	the	most	advanced	internal	control	environment	may	be	vulnerable	to	compromise.		
Due	to	increasing	geopolitical	tensions,	nation	state	cyber	attacks	and	ransomware	are	both	increasing	in	
Due	to	increasing	geopolitical	tensions,	nation	state	cyber	attacks	and	ransomware	are	both	increasing	in	
sophistication	and	prevalence.		Targeted	social	engineering	and	email	attacks	(i.e.	“spear	phishing”	attacks)	are	
sophistication	and	prevalence.		Targeted	social	engineering	and	email	attacks	(i.e.	“spear	phishing”	attacks)	are	
becoming	more	sophisticated	and	are	extremely	difficult	to	prevent.		In	such	an	attack,	an	attacker	will	attempt	to	
becoming	more	sophisticated	and	are	extremely	difficult	to	prevent.		In	such	an	attack,	an	attacker	will	attempt	to	
fraudulently	induce	colleagues,	customers,	or	other	users	of	our	systems	to	disclose	sensitive	information	in	order	to	
fraudulently	induce	colleagues,	customers,	or	other	users	of	our	systems	to	disclose	sensitive	information	in	order	to	
gain	access	to	its	data	or	that	of	its	clients.		Persistent	attackers	may	succeed	in	penetrating	defenses	given	enough	
gain	access	to	its	data	or	that	of	its	clients.		Persistent	attackers	may	succeed	in	penetrating	defenses	given	enough	
resources,	time,	and	motive.		The	techniques	used	by	cyber	criminals	change	frequently,	may	not	be	recognized	until	
resources,	time,	and	motive.		The	techniques	used	by	cyber	criminals	change	frequently,	may	not	be	recognized	until	
launched,	and	may	not	be	recognized	until	well	after	a	breach	has	occurred.		The	speed	at	which	new	vulnerabilities	
launched,	and	may	not	be	recognized	until	well	after	a	breach	has	occurred.		The	speed	at	which	new	vulnerabilities	
are	discovered	and	exploited	often	before	security	patches	are	published	continues	to	rise.		The	risk	of	a	security	
are	discovered	and	exploited	often	before	security	patches	are	published	continues	to	rise.		The	risk	of	a	security	
breach	caused	by	a	cyber-attack	at	a	vendor	or	by	unauthorized	vendor	access	has	also	increased	in	recent	years.		
breach	caused	by	a	cyber-attack	at	a	vendor	or	by	unauthorized	vendor	access	has	also	increased	in	recent	years.		
Additionally,	the	existence	of	cyber-attacks	or	security	breaches	at	third-party	vendors	with	access	to	our	data	may	
Additionally,	the	existence	of	cyber-attacks	or	security	breaches	at	third-party	vendors	with	access	to	our	data	may	
not	be	disclosed	to	us	in	a	timely	manner.
not	be	disclosed	to	us	in	a	timely	manner.

We	also	face	indirect	technology,	cybersecurity,	and	operational	risks	relating	to	the	customers,	clients,	and	
We	also	face	indirect	technology,	cybersecurity,	and	operational	risks	relating	to	the	customers,	clients,	and	
other	third	parties	with	whom	we	do	business	or	upon	whom	we	rely	to	facilitate	or	enable	our	business	activities,	
other	third	parties	with	whom	we	do	business	or	upon	whom	we	rely	to	facilitate	or	enable	our	business	activities,	
including,	for	example,	financial	counterparties,	regulators,	and	providers	of	critical	infrastructure	such	as	internet	
including,	for	example,	financial	counterparties,	regulators,	and	providers	of	critical	infrastructure	such	as	internet	
access	and	electrical	power.		As	a	result	of	increasing	consolidation,	interdependence,	and	complexity	of	financial	
access	and	electrical	power.		As	a	result	of	increasing	consolidation,	interdependence,	and	complexity	of	financial	
entities	and	technology	systems,	a	technology	failure,	cyber-attack,	or	other	information	or	security	breach	that	
entities	and	technology	systems,	a	technology	failure,	cyber-attack,	or	other	information	or	security	breach	that	
significantly	degrades,	deletes,	or	compromises	the	systems	or	data	of	one	or	more	financial	entities	could	have	a	
significantly	degrades,	deletes,	or	compromises	the	systems	or	data	of	one	or	more	financial	entities	could	have	a	
material	impact	on	counterparties	or	other	market	participants,	including	us.		This	consolidation,	interconnectivity,	
material	impact	on	counterparties	or	other	market	participants,	including	us.		This	consolidation,	interconnectivity,	

32					Huntington	Bancshares	Incorporated

32					Huntington	Bancshares	Incorporated

2020	Form	10-K					33
2020	Form	10-K					33

and	complexity	increases	the	risk	of	operational	failure,	on	both	individual	and	industry-wide	bases,	as	disparate	
and	complexity	increases	the	risk	of	operational	failure,	on	both	individual	and	industry-wide	bases,	as	disparate	
systems	need	to	be	integrated,	often	on	an	accelerated	basis.		Any	third-party	technology	failure,	cyber-attack,	or	
systems	need	to	be	integrated,	often	on	an	accelerated	basis.		Any	third-party	technology	failure,	cyber-attack,	or	
other	information	or	security	breach,	termination,	or	constraint	could,	among	other	things,	adversely	affect	our	
other	information	or	security	breach,	termination,	or	constraint	could,	among	other	things,	adversely	affect	our	
ability	to	effect	transactions,	service	our	clients,	manage	our	exposure	to	risk,	or	expand	our	business.
ability	to	effect	transactions,	service	our	clients,	manage	our	exposure	to	risk,	or	expand	our	business.

Cyber-attacks	or	other	information	or	security	breaches,	whether	directed	at	us	or	third	parties,	may	result	in	a	
Cyber-attacks	or	other	information	or	security	breaches,	whether	directed	at	us	or	third	parties,	may	result	in	a	
material	loss	or	have	material	consequences.		Furthermore,	the	public	perception	that	a	cyber-attack	on	our	systems	
material	loss	or	have	material	consequences.		Furthermore,	the	public	perception	that	a	cyber-attack	on	our	systems	
has	been	successful,	whether	or	not	this	perception	is	correct,	may	damage	our	reputation	with	customers	and	third	
has	been	successful,	whether	or	not	this	perception	is	correct,	may	damage	our	reputation	with	customers	and	third	
parties	with	whom	we	do	business.		Hacking	of	personal	information	and	identity	theft	risks,	in	particular,	could	
parties	with	whom	we	do	business.		Hacking	of	personal	information	and	identity	theft	risks,	in	particular,	could	
cause	serious	reputational	harm.		A	successful	penetration	or	circumvention	of	system	security	could	cause	us	
cause	serious	reputational	harm.		A	successful	penetration	or	circumvention	of	system	security	could	cause	us	
serious	negative	consequences,	including	our	loss	of	customers	and	business	opportunities,	costs	associated	with	
serious	negative	consequences,	including	our	loss	of	customers	and	business	opportunities,	costs	associated	with	
maintaining	business	relationships	after	an	attack	or	breach;	significant	business	disruption	to	our	operations	and	
maintaining	business	relationships	after	an	attack	or	breach;	significant	business	disruption	to	our	operations	and	
business,	misappropriation,	exposure,	or	destruction	of	our	confidential	information,	intellectual	property,	funds,	
business,	misappropriation,	exposure,	or	destruction	of	our	confidential	information,	intellectual	property,	funds,	
and/or	those	of	our	customers;	or	damage	to	our	or	our	customers’	and/or	third	parties’	computers	or	systems,	and	
and/or	those	of	our	customers;	or	damage	to	our	or	our	customers’	and/or	third	parties’	computers	or	systems,	and	
could	result	in	a	violation	of	applicable	privacy	laws	and	other	laws,	litigation	exposure,	regulatory	fines,	penalties	or	
could	result	in	a	violation	of	applicable	privacy	laws	and	other	laws,	litigation	exposure,	regulatory	fines,	penalties	or	
intervention,	loss	of	confidence	in	our	security	measures,	reputational	damage,	reimbursement	or	other	
intervention,	loss	of	confidence	in	our	security	measures,	reputational	damage,	reimbursement	or	other	
compensatory	costs,	additional	compliance	costs,	and	could	adversely	impact	our	results	of	operations,	liquidity	and	
compensatory	costs,	additional	compliance	costs,	and	could	adversely	impact	our	results	of	operations,	liquidity	and	
financial	condition.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	
financial	condition.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	
cybersecurity	event.
cybersecurity	event.

Cybersecurity	and	data	privacy	are	areas	of	heightened	legislative	and	regulatory	focus.
Cybersecurity	and	data	privacy	are	areas	of	heightened	legislative	and	regulatory	focus.

As	cybersecurity	and	data	privacy	risks	for	banking	organizations	and	the	broader	financial	system	have	
As	cybersecurity	and	data	privacy	risks	for	banking	organizations	and	the	broader	financial	system	have	

significantly	increased	in	recent	years,	cybersecurity	and	data	privacy	issues	have	become	the	subject	of	increasing	
significantly	increased	in	recent	years,	cybersecurity	and	data	privacy	issues	have	become	the	subject	of	increasing	
legislative	and	regulatory	focus.		The	federal	bank	regulatory	agencies	have	proposed	regulations	that	would	
legislative	and	regulatory	focus.		The	federal	bank	regulatory	agencies	have	proposed	regulations	that	would	
enhance	cyber	risk	management	standards,	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	
enhance	cyber	risk	management	standards,	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	
their	third-party	service	providers,	including	us	and	the	Bank,	and	would	focus	on	cyber	risk	governance	and	
their	third-party	service	providers,	including	us	and	the	Bank,	and	would	focus	on	cyber	risk	governance	and	
management,	management	of	internal	and	external	dependencies,	and	incident	response,	cyber	resilience,	and	
management,	management	of	internal	and	external	dependencies,	and	incident	response,	cyber	resilience,	and	
situational	awareness.		Several	states	have	also	proposed	or	adopted	cybersecurity	legislation	and	regulations,	which	
situational	awareness.		Several	states	have	also	proposed	or	adopted	cybersecurity	legislation	and	regulations,	which	
require,	among	other	things,	notification	to	affected	individuals	when	there	has	been	a	security	breach	of	their	
require,	among	other	things,	notification	to	affected	individuals	when	there	has	been	a	security	breach	of	their	
personal	data.		For	more	information	regarding	cybersecurity	and	data	privacy,	refer	to	Item	1:	Business	-	
personal	data.		For	more	information	regarding	cybersecurity	and	data	privacy,	refer	to	Item	1:	Business	-	
“Regulatory	Matters”.
“Regulatory	Matters”.

We	receive,	maintain,	and	store	non-public	personal	information	of	our	customers	and	counterparties,	including,	
We	receive,	maintain,	and	store	non-public	personal	information	of	our	customers	and	counterparties,	including,	

but	not	limited	to,	personally	identifiable	information	and	personal	financial	information.		The	sharing,	use,	
but	not	limited	to,	personally	identifiable	information	and	personal	financial	information.		The	sharing,	use,	
disclosure,	and	protection	of	these	types	of	information	are	governed	by	federal	and	state	law.		Both	personally	
disclosure,	and	protection	of	these	types	of	information	are	governed	by	federal	and	state	law.		Both	personally	
identifiable	information	and	personal	financial	information	are	increasingly	subject	to	legislation	and	regulation,	the	
identifiable	information	and	personal	financial	information	are	increasingly	subject	to	legislation	and	regulation,	the	
intent	of	which	is	to	protect	the	privacy	of	personal	information	and	personal	financial	information	that	is	collected	
intent	of	which	is	to	protect	the	privacy	of	personal	information	and	personal	financial	information	that	is	collected	
and	handled.		For	example,	in	June	of	2018,	the	Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	
and	handled.		For	example,	in	June	of	2018,	the	Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	
became	effective	on	January	1,	2020,	applies	to	for-profit	businesses	that	conduct	business	in	California	and	meet	
became	effective	on	January	1,	2020,	applies	to	for-profit	businesses	that	conduct	business	in	California	and	meet	
certain	revenue	or	data	collection	thresholds.		For	more	information	regarding	data	privacy	laws	and	regulations,	
certain	revenue	or	data	collection	thresholds.		For	more	information	regarding	data	privacy	laws	and	regulations,	
refer	to	Item	1:	Business	-	“Regulatory	Matters”.
refer	to	Item	1:	Business	-	“Regulatory	Matters”.

We	may	become	subject	to	new	legislation	or	regulation	concerning	cybersecurity	or	the	privacy	of	personally	
We	may	become	subject	to	new	legislation	or	regulation	concerning	cybersecurity	or	the	privacy	of	personally	
identifiable	information	and	personal	financial	information	or	of	any	other	information	we	may	store	or	maintain.		
identifiable	information	and	personal	financial	information	or	of	any	other	information	we	may	store	or	maintain.		
We	could	be	adversely	affected	if	new	legislation	or	regulations	are	adopted	or	if	existing	legislation	or	regulations	
We	could	be	adversely	affected	if	new	legislation	or	regulations	are	adopted	or	if	existing	legislation	or	regulations	
are	modified	such	that	we	are	required	to	alter	our	systems	or	require	changes	to	our	business	practices	or	privacy	
are	modified	such	that	we	are	required	to	alter	our	systems	or	require	changes	to	our	business	practices	or	privacy	
policies.		If	cybersecurity,	data	privacy,	data	protection,	data	transfer,	or	data	retention	laws	are	implemented,	
policies.		If	cybersecurity,	data	privacy,	data	protection,	data	transfer,	or	data	retention	laws	are	implemented,	
interpreted,	or	applied	in	a	manner	inconsistent	with	our	current	practices,	we	may	be	subject	to	fines,	litigation,	or	
interpreted,	or	applied	in	a	manner	inconsistent	with	our	current	practices,	we	may	be	subject	to	fines,	litigation,	or	
regulatory	enforcement	actions	or	ordered	to	change	our	business	practices,	policies,	or	systems	in	a	manner	that	
regulatory	enforcement	actions	or	ordered	to	change	our	business	practices,	policies,	or	systems	in	a	manner	that	
adversely	impacts	our	operating	results.
adversely	impacts	our	operating	results.

We	face	significant	operational	risks	which	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	confidence	

We	face	significant	operational	risks	which	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	confidence	

by	our	customers,	regulators,	and	capital	markets.

by	our	customers,	regulators,	and	capital	markets.

We	are	exposed	to	many	types	of	operational	risks,	including	the	risk	of	fraud	or	theft	by	colleagues	or	outsiders,	

We	are	exposed	to	many	types	of	operational	risks,	including	the	risk	of	fraud	or	theft	by	colleagues	or	outsiders,	

unauthorized	transactions	by	colleagues	or	outsiders,	operational	errors	by	colleagues,	business	disruption,	and	

unauthorized	transactions	by	colleagues	or	outsiders,	operational	errors	by	colleagues,	business	disruption,	and	

system	failures.		Huntington	executes	against	a	significant	number	of	controls,	a	large	percent	of	which	are	manual	

system	failures.		Huntington	executes	against	a	significant	number	of	controls,	a	large	percent	of	which	are	manual	

and	dependent	on	adequate	execution	by	colleagues	and	third-party	service	providers.		There	is	inherent	risk	that	

and	dependent	on	adequate	execution	by	colleagues	and	third-party	service	providers.		There	is	inherent	risk	that	

unknown	single	points	of	failure	through	the	execution	chain	could	give	rise	to	material	loss	through	inadvertent	

unknown	single	points	of	failure	through	the	execution	chain	could	give	rise	to	material	loss	through	inadvertent	

errors	or	malicious	attack.		These	operational	risks	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	

errors	or	malicious	attack.		These	operational	risks	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	

confidence	by	our	customers,	regulators,	and	the	capital	markets.

confidence	by	our	customers,	regulators,	and	the	capital	markets.

Moreover,	negative	public	opinion	can	result	from	our	actual	or	alleged	conduct	in	any	number	of	activities,	

Moreover,	negative	public	opinion	can	result	from	our	actual	or	alleged	conduct	in	any	number	of	activities,	

including	clients,	products,	and	business	practices;	corporate	governance;	acquisitions;	and	from	actions	taken	by	

including	clients,	products,	and	business	practices;	corporate	governance;	acquisitions;	and	from	actions	taken	by	

government	regulators	and	community	organizations	in	response	to	those	activities.		Negative	public	opinion	can	

government	regulators	and	community	organizations	in	response	to	those	activities.		Negative	public	opinion	can	

adversely	affect	our	ability	to	attract	and	retain	customers	and	can	also	expose	us	to	litigation	and	regulatory	action.

adversely	affect	our	ability	to	attract	and	retain	customers	and	can	also	expose	us	to	litigation	and	regulatory	action.

Relative	to	acquisitions,	we	incur	risks	and	challenges	associated	with	the	integration	of	employees,	accounting	

Relative	to	acquisitions,	we	incur	risks	and	challenges	associated	with	the	integration	of	employees,	accounting	

systems,	and	technology	platforms	from	acquired	businesses	and	institutions	in	a	timely	and	efficient	manner,	and	

systems,	and	technology	platforms	from	acquired	businesses	and	institutions	in	a	timely	and	efficient	manner,	and	

we	cannot	guarantee	that	we	will	be	successful	in	retaining	existing	customer	relationships	or	achieving	anticipated	

we	cannot	guarantee	that	we	will	be	successful	in	retaining	existing	customer	relationships	or	achieving	anticipated	

operating	efficiencies	expected	from	such	acquisitions.		Acquisitions	may	be	subject	to	the	receipt	of	approvals	from	

operating	efficiencies	expected	from	such	acquisitions.		Acquisitions	may	be	subject	to	the	receipt	of	approvals	from	

certain	governmental	authorities,	including	the	Federal	Reserve,	the	OCC,	and	the	United	States	Department	of	

certain	governmental	authorities,	including	the	Federal	Reserve,	the	OCC,	and	the	United	States	Department	of	

Justice,	as	well	as	the	approval	of	our	shareholders	and	the	shareholders	of	companies	that	we	seek	to	acquire.		

Justice,	as	well	as	the	approval	of	our	shareholders	and	the	shareholders	of	companies	that	we	seek	to	acquire.		

These	approvals	for	acquisitions	may	not	be	received,	may	take	longer	than	expected,	or	may	impose	conditions	that	

These	approvals	for	acquisitions	may	not	be	received,	may	take	longer	than	expected,	or	may	impose	conditions	that	

are	not	presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	

are	not	presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	

acquisitions.		Subject	to	requisite	regulatory	approvals,	future	business	acquisitions	may	result	in	the	issuance	and	

acquisitions.		Subject	to	requisite	regulatory	approvals,	future	business	acquisitions	may	result	in	the	issuance	and	

payment	of	additional	shares	of	stock,	which	would	dilute	current	shareholders’	ownership	interests.		Additionally,	

payment	of	additional	shares	of	stock,	which	would	dilute	current	shareholders’	ownership	interests.		Additionally,	

acquisitions	may	involve	the	payment	of	a	premium	over	book	and	market	values.		Therefore,	dilution	of	our	

acquisitions	may	involve	the	payment	of	a	premium	over	book	and	market	values.		Therefore,	dilution	of	our	

tangible	book	value	and	net	income	per	common	share	could	occur	in	connection	with	any	future	transaction.		

tangible	book	value	and	net	income	per	common	share	could	occur	in	connection	with	any	future	transaction.		

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	and	

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	and	

timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	affecting	

timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	affecting	

our	business	and	our	stock	price.

our	business	and	our	stock	price.

Effective	internal	controls	over	financial	reporting	are	necessary	to	provide	reliable	financial	reports	and	prevent	

Effective	internal	controls	over	financial	reporting	are	necessary	to	provide	reliable	financial	reports	and	prevent	

fraud.		We	are	subject	to	regulation	that	focuses	on	effective	internal	controls	and	procedures.		Such	controls	and	

fraud.		We	are	subject	to	regulation	that	focuses	on	effective	internal	controls	and	procedures.		Such	controls	and	

procedures	are	modified,	supplemented,	and	changed	from	time-to-time	as	necessitated	by	our	growth	and	in	

procedures	are	modified,	supplemented,	and	changed	from	time-to-time	as	necessitated	by	our	growth	and	in	

reaction	to	external	events	and	developments.		Any	failure	to	maintain	an	effective	internal	control	environment	

reaction	to	external	events	and	developments.		Any	failure	to	maintain	an	effective	internal	control	environment	

could	impact	our	ability	to	report	our	financial	results	on	an	accurate	and	timely	basis,	which	could	result	in	

could	impact	our	ability	to	report	our	financial	results	on	an	accurate	and	timely	basis,	which	could	result	in	

regulatory	actions,	loss	of	investor	confidence,	and	an	adverse	impact	on	our	business	and	our	stock	price.

regulatory	actions,	loss	of	investor	confidence,	and	an	adverse	impact	on	our	business	and	our	stock	price.

We	rely	on	quantitative	models	to	measure	risks	and	to	estimate	certain	financial	values.

We	rely	on	quantitative	models	to	measure	risks	and	to	estimate	certain	financial	values.

Quantitative	models	may	be	used	to	help	manage	certain	aspects	of	our	business	and	to	assist	with	certain	

Quantitative	models	may	be	used	to	help	manage	certain	aspects	of	our	business	and	to	assist	with	certain	

business	decisions,	including	estimating	expected	lifetime	credit	losses,	measuring	the	fair	value	of	financial	

business	decisions,	including	estimating	expected	lifetime	credit	losses,	measuring	the	fair	value	of	financial	

instruments	when	reliable	market	prices	are	unavailable,	estimating	the	effects	of	changing	interest	rates	and	other	

instruments	when	reliable	market	prices	are	unavailable,	estimating	the	effects	of	changing	interest	rates	and	other	

market	measures	on	our	financial	condition	and	results	of	operations,	managing	risk,	and	for	capital	planning	

market	measures	on	our	financial	condition	and	results	of	operations,	managing	risk,	and	for	capital	planning	

purposes	(including	during	the	CCAR	capital	planning	and	capital	adequacy	process).		Our	measurement	

purposes	(including	during	the	CCAR	capital	planning	and	capital	adequacy	process).		Our	measurement	

methodologies	rely	on	many	assumptions,	historical	analyses,	and	correlations.		These	assumptions	may	not	capture	

methodologies	rely	on	many	assumptions,	historical	analyses,	and	correlations.		These	assumptions	may	not	capture	

or	fully	incorporate	conditions	leading	to	losses,	particularly	in	times	of	market	distress,	and	the	historical	

or	fully	incorporate	conditions	leading	to	losses,	particularly	in	times	of	market	distress,	and	the	historical	

correlations	on	which	we	rely	may	no	longer	be	relevant.		Additionally,	as	businesses	and	markets	evolve,	our	

correlations	on	which	we	rely	may	no	longer	be	relevant.		Additionally,	as	businesses	and	markets	evolve,	our	

measurements	may	not	accurately	reflect	this	evolution.		Even	if	the	underlying	assumptions	and	historical	

measurements	may	not	accurately	reflect	this	evolution.		Even	if	the	underlying	assumptions	and	historical	

correlations	used	in	our	models	are	adequate,	our	models	may	be	deficient	due	to	errors	in	computer	code,	

correlations	used	in	our	models	are	adequate,	our	models	may	be	deficient	due	to	errors	in	computer	code,	

inaccurate	data,	misuse	of	data,	or	the	use	of	a	model	for	a	purpose	outside	the	scope	of	the	model’s	design.

inaccurate	data,	misuse	of	data,	or	the	use	of	a	model	for	a	purpose	outside	the	scope	of	the	model’s	design.

All	models	have	certain	limitations.		Reliance	on	models	presents	the	risk	that	our	business	decisions	based	on	

All	models	have	certain	limitations.		Reliance	on	models	presents	the	risk	that	our	business	decisions	based	on	

information	incorporated	from	models	will	be	adversely	affected	due	to	incorrect,	missing,	or	misleading	

information	incorporated	from	models	will	be	adversely	affected	due	to	incorrect,	missing,	or	misleading	

information.		In	addition,	our	models	may	not	capture	or	fully	express	the	risks	we	face,	may	suggest	that	we	have	

information.		In	addition,	our	models	may	not	capture	or	fully	express	the	risks	we	face,	may	suggest	that	we	have	

34					Huntington	Bancshares	Incorporated
34					Huntington	Bancshares	Incorporated

2020	Form	10-K					35

2020	Form	10-K					35

and	complexity	increases	the	risk	of	operational	failure,	on	both	individual	and	industry-wide	bases,	as	disparate	

and	complexity	increases	the	risk	of	operational	failure,	on	both	individual	and	industry-wide	bases,	as	disparate	

systems	need	to	be	integrated,	often	on	an	accelerated	basis.		Any	third-party	technology	failure,	cyber-attack,	or	

systems	need	to	be	integrated,	often	on	an	accelerated	basis.		Any	third-party	technology	failure,	cyber-attack,	or	

other	information	or	security	breach,	termination,	or	constraint	could,	among	other	things,	adversely	affect	our	

other	information	or	security	breach,	termination,	or	constraint	could,	among	other	things,	adversely	affect	our	

ability	to	effect	transactions,	service	our	clients,	manage	our	exposure	to	risk,	or	expand	our	business.

ability	to	effect	transactions,	service	our	clients,	manage	our	exposure	to	risk,	or	expand	our	business.

Cyber-attacks	or	other	information	or	security	breaches,	whether	directed	at	us	or	third	parties,	may	result	in	a	

Cyber-attacks	or	other	information	or	security	breaches,	whether	directed	at	us	or	third	parties,	may	result	in	a	

material	loss	or	have	material	consequences.		Furthermore,	the	public	perception	that	a	cyber-attack	on	our	systems	

material	loss	or	have	material	consequences.		Furthermore,	the	public	perception	that	a	cyber-attack	on	our	systems	

has	been	successful,	whether	or	not	this	perception	is	correct,	may	damage	our	reputation	with	customers	and	third	

has	been	successful,	whether	or	not	this	perception	is	correct,	may	damage	our	reputation	with	customers	and	third	

parties	with	whom	we	do	business.		Hacking	of	personal	information	and	identity	theft	risks,	in	particular,	could	

parties	with	whom	we	do	business.		Hacking	of	personal	information	and	identity	theft	risks,	in	particular,	could	

cause	serious	reputational	harm.		A	successful	penetration	or	circumvention	of	system	security	could	cause	us	

cause	serious	reputational	harm.		A	successful	penetration	or	circumvention	of	system	security	could	cause	us	

serious	negative	consequences,	including	our	loss	of	customers	and	business	opportunities,	costs	associated	with	

serious	negative	consequences,	including	our	loss	of	customers	and	business	opportunities,	costs	associated	with	

maintaining	business	relationships	after	an	attack	or	breach;	significant	business	disruption	to	our	operations	and	

maintaining	business	relationships	after	an	attack	or	breach;	significant	business	disruption	to	our	operations	and	

business,	misappropriation,	exposure,	or	destruction	of	our	confidential	information,	intellectual	property,	funds,	

business,	misappropriation,	exposure,	or	destruction	of	our	confidential	information,	intellectual	property,	funds,	

and/or	those	of	our	customers;	or	damage	to	our	or	our	customers’	and/or	third	parties’	computers	or	systems,	and	

and/or	those	of	our	customers;	or	damage	to	our	or	our	customers’	and/or	third	parties’	computers	or	systems,	and	

could	result	in	a	violation	of	applicable	privacy	laws	and	other	laws,	litigation	exposure,	regulatory	fines,	penalties	or	

could	result	in	a	violation	of	applicable	privacy	laws	and	other	laws,	litigation	exposure,	regulatory	fines,	penalties	or	

intervention,	loss	of	confidence	in	our	security	measures,	reputational	damage,	reimbursement	or	other	

intervention,	loss	of	confidence	in	our	security	measures,	reputational	damage,	reimbursement	or	other	

compensatory	costs,	additional	compliance	costs,	and	could	adversely	impact	our	results	of	operations,	liquidity	and	

compensatory	costs,	additional	compliance	costs,	and	could	adversely	impact	our	results	of	operations,	liquidity	and	

financial	condition.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	

financial	condition.		In	addition,	we	may	not	have	adequate	insurance	coverage	to	compensate	for	losses	from	a	

cybersecurity	event.

cybersecurity	event.

Cybersecurity	and	data	privacy	are	areas	of	heightened	legislative	and	regulatory	focus.

Cybersecurity	and	data	privacy	are	areas	of	heightened	legislative	and	regulatory	focus.

As	cybersecurity	and	data	privacy	risks	for	banking	organizations	and	the	broader	financial	system	have	

As	cybersecurity	and	data	privacy	risks	for	banking	organizations	and	the	broader	financial	system	have	

significantly	increased	in	recent	years,	cybersecurity	and	data	privacy	issues	have	become	the	subject	of	increasing	

significantly	increased	in	recent	years,	cybersecurity	and	data	privacy	issues	have	become	the	subject	of	increasing	

legislative	and	regulatory	focus.		The	federal	bank	regulatory	agencies	have	proposed	regulations	that	would	

legislative	and	regulatory	focus.		The	federal	bank	regulatory	agencies	have	proposed	regulations	that	would	

enhance	cyber	risk	management	standards,	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	

enhance	cyber	risk	management	standards,	which	would	apply	to	a	wide	range	of	large	financial	institutions	and	

their	third-party	service	providers,	including	us	and	the	Bank,	and	would	focus	on	cyber	risk	governance	and	

their	third-party	service	providers,	including	us	and	the	Bank,	and	would	focus	on	cyber	risk	governance	and	

management,	management	of	internal	and	external	dependencies,	and	incident	response,	cyber	resilience,	and	

management,	management	of	internal	and	external	dependencies,	and	incident	response,	cyber	resilience,	and	

situational	awareness.		Several	states	have	also	proposed	or	adopted	cybersecurity	legislation	and	regulations,	which	

situational	awareness.		Several	states	have	also	proposed	or	adopted	cybersecurity	legislation	and	regulations,	which	

require,	among	other	things,	notification	to	affected	individuals	when	there	has	been	a	security	breach	of	their	

require,	among	other	things,	notification	to	affected	individuals	when	there	has	been	a	security	breach	of	their	

personal	data.		For	more	information	regarding	cybersecurity	and	data	privacy,	refer	to	Item	1:	Business	-	

personal	data.		For	more	information	regarding	cybersecurity	and	data	privacy,	refer	to	Item	1:	Business	-	

“Regulatory	Matters”.

“Regulatory	Matters”.

We	receive,	maintain,	and	store	non-public	personal	information	of	our	customers	and	counterparties,	including,	

We	receive,	maintain,	and	store	non-public	personal	information	of	our	customers	and	counterparties,	including,	

but	not	limited	to,	personally	identifiable	information	and	personal	financial	information.		The	sharing,	use,	

but	not	limited	to,	personally	identifiable	information	and	personal	financial	information.		The	sharing,	use,	

disclosure,	and	protection	of	these	types	of	information	are	governed	by	federal	and	state	law.		Both	personally	

disclosure,	and	protection	of	these	types	of	information	are	governed	by	federal	and	state	law.		Both	personally	

identifiable	information	and	personal	financial	information	are	increasingly	subject	to	legislation	and	regulation,	the	

identifiable	information	and	personal	financial	information	are	increasingly	subject	to	legislation	and	regulation,	the	

intent	of	which	is	to	protect	the	privacy	of	personal	information	and	personal	financial	information	that	is	collected	

intent	of	which	is	to	protect	the	privacy	of	personal	information	and	personal	financial	information	that	is	collected	

and	handled.		For	example,	in	June	of	2018,	the	Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	

and	handled.		For	example,	in	June	of	2018,	the	Governor	of	California	signed	into	law	the	CCPA.		The	CCPA,	which	

became	effective	on	January	1,	2020,	applies	to	for-profit	businesses	that	conduct	business	in	California	and	meet	

became	effective	on	January	1,	2020,	applies	to	for-profit	businesses	that	conduct	business	in	California	and	meet	

certain	revenue	or	data	collection	thresholds.		For	more	information	regarding	data	privacy	laws	and	regulations,	

certain	revenue	or	data	collection	thresholds.		For	more	information	regarding	data	privacy	laws	and	regulations,	

refer	to	Item	1:	Business	-	“Regulatory	Matters”.

refer	to	Item	1:	Business	-	“Regulatory	Matters”.

We	may	become	subject	to	new	legislation	or	regulation	concerning	cybersecurity	or	the	privacy	of	personally	

We	may	become	subject	to	new	legislation	or	regulation	concerning	cybersecurity	or	the	privacy	of	personally	

identifiable	information	and	personal	financial	information	or	of	any	other	information	we	may	store	or	maintain.		

identifiable	information	and	personal	financial	information	or	of	any	other	information	we	may	store	or	maintain.		

We	could	be	adversely	affected	if	new	legislation	or	regulations	are	adopted	or	if	existing	legislation	or	regulations	

We	could	be	adversely	affected	if	new	legislation	or	regulations	are	adopted	or	if	existing	legislation	or	regulations	

are	modified	such	that	we	are	required	to	alter	our	systems	or	require	changes	to	our	business	practices	or	privacy	

are	modified	such	that	we	are	required	to	alter	our	systems	or	require	changes	to	our	business	practices	or	privacy	

policies.		If	cybersecurity,	data	privacy,	data	protection,	data	transfer,	or	data	retention	laws	are	implemented,	

policies.		If	cybersecurity,	data	privacy,	data	protection,	data	transfer,	or	data	retention	laws	are	implemented,	

interpreted,	or	applied	in	a	manner	inconsistent	with	our	current	practices,	we	may	be	subject	to	fines,	litigation,	or	

interpreted,	or	applied	in	a	manner	inconsistent	with	our	current	practices,	we	may	be	subject	to	fines,	litigation,	or	

regulatory	enforcement	actions	or	ordered	to	change	our	business	practices,	policies,	or	systems	in	a	manner	that	

regulatory	enforcement	actions	or	ordered	to	change	our	business	practices,	policies,	or	systems	in	a	manner	that	

adversely	impacts	our	operating	results.

adversely	impacts	our	operating	results.

We	face	significant	operational	risks	which	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	confidence	
We	face	significant	operational	risks	which	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	confidence	
by	our	customers,	regulators,	and	capital	markets.
by	our	customers,	regulators,	and	capital	markets.

We	are	exposed	to	many	types	of	operational	risks,	including	the	risk	of	fraud	or	theft	by	colleagues	or	outsiders,	
We	are	exposed	to	many	types	of	operational	risks,	including	the	risk	of	fraud	or	theft	by	colleagues	or	outsiders,	

unauthorized	transactions	by	colleagues	or	outsiders,	operational	errors	by	colleagues,	business	disruption,	and	
unauthorized	transactions	by	colleagues	or	outsiders,	operational	errors	by	colleagues,	business	disruption,	and	
system	failures.		Huntington	executes	against	a	significant	number	of	controls,	a	large	percent	of	which	are	manual	
system	failures.		Huntington	executes	against	a	significant	number	of	controls,	a	large	percent	of	which	are	manual	
and	dependent	on	adequate	execution	by	colleagues	and	third-party	service	providers.		There	is	inherent	risk	that	
and	dependent	on	adequate	execution	by	colleagues	and	third-party	service	providers.		There	is	inherent	risk	that	
unknown	single	points	of	failure	through	the	execution	chain	could	give	rise	to	material	loss	through	inadvertent	
unknown	single	points	of	failure	through	the	execution	chain	could	give	rise	to	material	loss	through	inadvertent	
errors	or	malicious	attack.		These	operational	risks	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	
errors	or	malicious	attack.		These	operational	risks	could	lead	to	financial	loss,	expensive	litigation,	and	loss	of	
confidence	by	our	customers,	regulators,	and	the	capital	markets.
confidence	by	our	customers,	regulators,	and	the	capital	markets.

Moreover,	negative	public	opinion	can	result	from	our	actual	or	alleged	conduct	in	any	number	of	activities,	
Moreover,	negative	public	opinion	can	result	from	our	actual	or	alleged	conduct	in	any	number	of	activities,	
including	clients,	products,	and	business	practices;	corporate	governance;	acquisitions;	and	from	actions	taken	by	
including	clients,	products,	and	business	practices;	corporate	governance;	acquisitions;	and	from	actions	taken	by	
government	regulators	and	community	organizations	in	response	to	those	activities.		Negative	public	opinion	can	
government	regulators	and	community	organizations	in	response	to	those	activities.		Negative	public	opinion	can	
adversely	affect	our	ability	to	attract	and	retain	customers	and	can	also	expose	us	to	litigation	and	regulatory	action.
adversely	affect	our	ability	to	attract	and	retain	customers	and	can	also	expose	us	to	litigation	and	regulatory	action.

Relative	to	acquisitions,	we	incur	risks	and	challenges	associated	with	the	integration	of	employees,	accounting	
Relative	to	acquisitions,	we	incur	risks	and	challenges	associated	with	the	integration	of	employees,	accounting	
systems,	and	technology	platforms	from	acquired	businesses	and	institutions	in	a	timely	and	efficient	manner,	and	
systems,	and	technology	platforms	from	acquired	businesses	and	institutions	in	a	timely	and	efficient	manner,	and	
we	cannot	guarantee	that	we	will	be	successful	in	retaining	existing	customer	relationships	or	achieving	anticipated	
we	cannot	guarantee	that	we	will	be	successful	in	retaining	existing	customer	relationships	or	achieving	anticipated	
operating	efficiencies	expected	from	such	acquisitions.		Acquisitions	may	be	subject	to	the	receipt	of	approvals	from	
operating	efficiencies	expected	from	such	acquisitions.		Acquisitions	may	be	subject	to	the	receipt	of	approvals	from	
certain	governmental	authorities,	including	the	Federal	Reserve,	the	OCC,	and	the	United	States	Department	of	
certain	governmental	authorities,	including	the	Federal	Reserve,	the	OCC,	and	the	United	States	Department	of	
Justice,	as	well	as	the	approval	of	our	shareholders	and	the	shareholders	of	companies	that	we	seek	to	acquire.		
Justice,	as	well	as	the	approval	of	our	shareholders	and	the	shareholders	of	companies	that	we	seek	to	acquire.		
These	approvals	for	acquisitions	may	not	be	received,	may	take	longer	than	expected,	or	may	impose	conditions	that	
These	approvals	for	acquisitions	may	not	be	received,	may	take	longer	than	expected,	or	may	impose	conditions	that	
are	not	presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	
are	not	presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	
acquisitions.		Subject	to	requisite	regulatory	approvals,	future	business	acquisitions	may	result	in	the	issuance	and	
acquisitions.		Subject	to	requisite	regulatory	approvals,	future	business	acquisitions	may	result	in	the	issuance	and	
payment	of	additional	shares	of	stock,	which	would	dilute	current	shareholders’	ownership	interests.		Additionally,	
payment	of	additional	shares	of	stock,	which	would	dilute	current	shareholders’	ownership	interests.		Additionally,	
acquisitions	may	involve	the	payment	of	a	premium	over	book	and	market	values.		Therefore,	dilution	of	our	
acquisitions	may	involve	the	payment	of	a	premium	over	book	and	market	values.		Therefore,	dilution	of	our	
tangible	book	value	and	net	income	per	common	share	could	occur	in	connection	with	any	future	transaction.		
tangible	book	value	and	net	income	per	common	share	could	occur	in	connection	with	any	future	transaction.		

Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	and	
Failure	to	maintain	effective	internal	controls	over	financial	reporting	could	impair	our	ability	to	accurately	and	
timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	affecting	
timely	report	our	financial	results	or	prevent	fraud,	resulting	in	loss	of	investor	confidence	and	adversely	affecting	
our	business	and	our	stock	price.
our	business	and	our	stock	price.

Effective	internal	controls	over	financial	reporting	are	necessary	to	provide	reliable	financial	reports	and	prevent	
Effective	internal	controls	over	financial	reporting	are	necessary	to	provide	reliable	financial	reports	and	prevent	

fraud.		We	are	subject	to	regulation	that	focuses	on	effective	internal	controls	and	procedures.		Such	controls	and	
fraud.		We	are	subject	to	regulation	that	focuses	on	effective	internal	controls	and	procedures.		Such	controls	and	
procedures	are	modified,	supplemented,	and	changed	from	time-to-time	as	necessitated	by	our	growth	and	in	
procedures	are	modified,	supplemented,	and	changed	from	time-to-time	as	necessitated	by	our	growth	and	in	
reaction	to	external	events	and	developments.		Any	failure	to	maintain	an	effective	internal	control	environment	
reaction	to	external	events	and	developments.		Any	failure	to	maintain	an	effective	internal	control	environment	
could	impact	our	ability	to	report	our	financial	results	on	an	accurate	and	timely	basis,	which	could	result	in	
could	impact	our	ability	to	report	our	financial	results	on	an	accurate	and	timely	basis,	which	could	result	in	
regulatory	actions,	loss	of	investor	confidence,	and	an	adverse	impact	on	our	business	and	our	stock	price.
regulatory	actions,	loss	of	investor	confidence,	and	an	adverse	impact	on	our	business	and	our	stock	price.

We	rely	on	quantitative	models	to	measure	risks	and	to	estimate	certain	financial	values.
We	rely	on	quantitative	models	to	measure	risks	and	to	estimate	certain	financial	values.

Quantitative	models	may	be	used	to	help	manage	certain	aspects	of	our	business	and	to	assist	with	certain	
Quantitative	models	may	be	used	to	help	manage	certain	aspects	of	our	business	and	to	assist	with	certain	

business	decisions,	including	estimating	expected	lifetime	credit	losses,	measuring	the	fair	value	of	financial	
business	decisions,	including	estimating	expected	lifetime	credit	losses,	measuring	the	fair	value	of	financial	
instruments	when	reliable	market	prices	are	unavailable,	estimating	the	effects	of	changing	interest	rates	and	other	
instruments	when	reliable	market	prices	are	unavailable,	estimating	the	effects	of	changing	interest	rates	and	other	
market	measures	on	our	financial	condition	and	results	of	operations,	managing	risk,	and	for	capital	planning	
market	measures	on	our	financial	condition	and	results	of	operations,	managing	risk,	and	for	capital	planning	
purposes	(including	during	the	CCAR	capital	planning	and	capital	adequacy	process).		Our	measurement	
purposes	(including	during	the	CCAR	capital	planning	and	capital	adequacy	process).		Our	measurement	
methodologies	rely	on	many	assumptions,	historical	analyses,	and	correlations.		These	assumptions	may	not	capture	
methodologies	rely	on	many	assumptions,	historical	analyses,	and	correlations.		These	assumptions	may	not	capture	
or	fully	incorporate	conditions	leading	to	losses,	particularly	in	times	of	market	distress,	and	the	historical	
or	fully	incorporate	conditions	leading	to	losses,	particularly	in	times	of	market	distress,	and	the	historical	
correlations	on	which	we	rely	may	no	longer	be	relevant.		Additionally,	as	businesses	and	markets	evolve,	our	
correlations	on	which	we	rely	may	no	longer	be	relevant.		Additionally,	as	businesses	and	markets	evolve,	our	
measurements	may	not	accurately	reflect	this	evolution.		Even	if	the	underlying	assumptions	and	historical	
measurements	may	not	accurately	reflect	this	evolution.		Even	if	the	underlying	assumptions	and	historical	
correlations	used	in	our	models	are	adequate,	our	models	may	be	deficient	due	to	errors	in	computer	code,	
correlations	used	in	our	models	are	adequate,	our	models	may	be	deficient	due	to	errors	in	computer	code,	
inaccurate	data,	misuse	of	data,	or	the	use	of	a	model	for	a	purpose	outside	the	scope	of	the	model’s	design.
inaccurate	data,	misuse	of	data,	or	the	use	of	a	model	for	a	purpose	outside	the	scope	of	the	model’s	design.

All	models	have	certain	limitations.		Reliance	on	models	presents	the	risk	that	our	business	decisions	based	on	
All	models	have	certain	limitations.		Reliance	on	models	presents	the	risk	that	our	business	decisions	based	on	

information	incorporated	from	models	will	be	adversely	affected	due	to	incorrect,	missing,	or	misleading	
information	incorporated	from	models	will	be	adversely	affected	due	to	incorrect,	missing,	or	misleading	
information.		In	addition,	our	models	may	not	capture	or	fully	express	the	risks	we	face,	may	suggest	that	we	have	
information.		In	addition,	our	models	may	not	capture	or	fully	express	the	risks	we	face,	may	suggest	that	we	have	

34					Huntington	Bancshares	Incorporated

34					Huntington	Bancshares	Incorporated

2020	Form	10-K					35
2020	Form	10-K					35

sufficient	capitalization	when	we	do	not,	or	may	lead	us	to	misjudge	the	business	and	economic	environment	in	
sufficient	capitalization	when	we	do	not,	or	may	lead	us	to	misjudge	the	business	and	economic	environment	in	
which	we	will	operate.		If	our	models	fail	to	produce	reliable	results	on	an	ongoing	basis,	we	may	not	make	
which	we	will	operate.		If	our	models	fail	to	produce	reliable	results	on	an	ongoing	basis,	we	may	not	make	
appropriate	risk	management,	capital	planning,	or	other	business	or	financial	decisions.		Strategies	that	we	employ	
appropriate	risk	management,	capital	planning,	or	other	business	or	financial	decisions.		Strategies	that	we	employ	
to	manage	and	govern	the	risks	associated	with	our	use	of	models	may	not	be	effective	or	fully	reliable.		Also,	
to	manage	and	govern	the	risks	associated	with	our	use	of	models	may	not	be	effective	or	fully	reliable.		Also,	
information	that	we	provide	to	the	public	or	regulators	based	on	poorly	designed	models	could	be	inaccurate	or	
information	that	we	provide	to	the	public	or	regulators	based	on	poorly	designed	models	could	be	inaccurate	or	
misleading.
misleading.

Banking	regulators	continue	to	focus	on	the	models	used	by	banks	and	bank	holding	companies	in	their	
Banking	regulators	continue	to	focus	on	the	models	used	by	banks	and	bank	holding	companies	in	their	

businesses.		Some	of	our	decisions	that	the	regulators	evaluate,	including	distributions	to	our	shareholders,	could	be	
businesses.		Some	of	our	decisions	that	the	regulators	evaluate,	including	distributions	to	our	shareholders,	could	be	
affected	adversely	due	to	their	perception	that	the	quality	of	the	models	used	to	generate	the	relevant	information	
affected	adversely	due	to	their	perception	that	the	quality	of	the	models	used	to	generate	the	relevant	information	
are	insufficient.
are	insufficient.

We	rely	on	third	parties	to	provide	key	components	of	our	business	infrastructure.		
We	rely	on	third	parties	to	provide	key	components	of	our	business	infrastructure.		

We	rely	on	third-party	service	providers	to	leverage	subject	matter	expertise	and	industry	best	practice,	provide	
We	rely	on	third-party	service	providers	to	leverage	subject	matter	expertise	and	industry	best	practice,	provide	

enhanced	products	and	services,	and	reduce	costs.		Although	there	are	benefits	in	entering	into	third-party	
enhanced	products	and	services,	and	reduce	costs.		Although	there	are	benefits	in	entering	into	third-party	
relationships	with	vendors	and	others,	there	are	risks	associated	with	such	activities.		When	entering	a	third-party	
relationships	with	vendors	and	others,	there	are	risks	associated	with	such	activities.		When	entering	a	third-party	
relationship,	the	risks	associated	with	that	activity	are	not	passed	to	the	third-party	but	remain	our	responsibility.		
relationship,	the	risks	associated	with	that	activity	are	not	passed	to	the	third-party	but	remain	our	responsibility.		
The	Technology	Committee	of	the	board	of	directors	provides	oversight	related	to	the	overall	risk	management	
The	Technology	Committee	of	the	board	of	directors	provides	oversight	related	to	the	overall	risk	management	
process	associated	with	third-party	relationships.		Management	is	accountable	for	the	review	and	evaluation	of	all	
process	associated	with	third-party	relationships.		Management	is	accountable	for	the	review	and	evaluation	of	all	
new	and	existing	third-party	relationships.		Management	is	responsible	for	ensuring	that	adequate	controls	are	in	
new	and	existing	third-party	relationships.		Management	is	responsible	for	ensuring	that	adequate	controls	are	in	
place	to	protect	us	and	our	customers	from	the	risks	associated	with	vendor	relationships.		
place	to	protect	us	and	our	customers	from	the	risks	associated	with	vendor	relationships.		

Increased	risk	could	occur	based	on	poor	planning,	oversight,	control,	and	inferior	performance	or	service	on	the	
Increased	risk	could	occur	based	on	poor	planning,	oversight,	control,	and	inferior	performance	or	service	on	the	

part	of	the	third-party,	and	may	result	in	legal	costs	or	loss	of	business.		While	we	have	implemented	a	vendor	
part	of	the	third-party,	and	may	result	in	legal	costs	or	loss	of	business.		While	we	have	implemented	a	vendor	
management	program	to	actively	manage	the	risks	associated	with	the	use	of	third-party	service	providers,	any	
management	program	to	actively	manage	the	risks	associated	with	the	use	of	third-party	service	providers,	any	
problems	caused	by	third-party	service	providers	could	adversely	affect	our	ability	to	deliver	products	and	services	
problems	caused	by	third-party	service	providers	could	adversely	affect	our	ability	to	deliver	products	and	services	
to	our	customers	and	to	conduct	our	business.		Replacing	a	third-party	service	provider	could	also	take	a	long	period	
to	our	customers	and	to	conduct	our	business.		Replacing	a	third-party	service	provider	could	also	take	a	long	period	
of	time	and	result	in	increased	expenses.		
of	time	and	result	in	increased	expenses.		

Changes	in	accounting	policies,	standards,	and	interpretations	could	affect	how	we	report	our	financial	condition	
Changes	in	accounting	policies,	standards,	and	interpretations	could	affect	how	we	report	our	financial	condition	
and	results	of	operations.
and	results	of	operations.

The	FASB,	regulatory	agencies,	and	other	bodies	that	establish	accounting	standards	periodically	change	the	
The	FASB,	regulatory	agencies,	and	other	bodies	that	establish	accounting	standards	periodically	change	the	
financial	accounting	and	reporting	standards	governing	the	preparation	of	our	financial	statements.		Additionally,	
financial	accounting	and	reporting	standards	governing	the	preparation	of	our	financial	statements.		Additionally,	
those	bodies	that	establish	and	interpret	the	accounting	standards	(such	as	the	FASB,	SEC,	and	banking	regulators)	
those	bodies	that	establish	and	interpret	the	accounting	standards	(such	as	the	FASB,	SEC,	and	banking	regulators)	
may	change	prior	interpretations	or	positions	on	how	these	standards	should	be	applied.		
may	change	prior	interpretations	or	positions	on	how	these	standards	should	be	applied.		

For	further	discussion,	see	Note	2	-	“Accounting	Standards	Update”	to	the	Consolidated	Financial	Statements.		
For	further	discussion,	see	Note	2	-	“Accounting	Standards	Update”	to	the	Consolidated	Financial	Statements.		

Impairment	of	goodwill	could	require	charges	to	earnings,	which	could	result	in	a	negative	impact	on	our	results	
Impairment	of	goodwill	could	require	charges	to	earnings,	which	could	result	in	a	negative	impact	on	our	results	
of	operations.
of	operations.

results.

results.

Our	goodwill	could	become	impaired	in	the	future.		If	goodwill	were	to	become	impaired,	it	could	limit	the	ability	
Our	goodwill	could	become	impaired	in	the	future.		If	goodwill	were	to	become	impaired,	it	could	limit	the	ability	

of	the	Bank	to	pay	dividends	to	Huntington,	adversely	impacting	Huntington	liquidity	and	ability	to	pay	dividends	or	
of	the	Bank	to	pay	dividends	to	Huntington,	adversely	impacting	Huntington	liquidity	and	ability	to	pay	dividends	or	
repay	debt.		The	most	significant	assumptions	affecting	our	goodwill	impairment	evaluation	are	variables	including	
repay	debt.		The	most	significant	assumptions	affecting	our	goodwill	impairment	evaluation	are	variables	including	
the	market	price	of	our	Common	Stock,	projections	of	earnings,	the	discount	rates	used	in	the	income	approach	to	
the	market	price	of	our	Common	Stock,	projections	of	earnings,	the	discount	rates	used	in	the	income	approach	to	
fair	value,	and	the	control	premium	above	our	current	stock	price	that	an	acquirer	would	pay	to	obtain	control	of	us.		
fair	value,	and	the	control	premium	above	our	current	stock	price	that	an	acquirer	would	pay	to	obtain	control	of	us.		
We	are	required	to	test	goodwill	for	impairment	at	least	annually	or	when	impairment	indicators	are	present.		If	an	
We	are	required	to	test	goodwill	for	impairment	at	least	annually	or	when	impairment	indicators	are	present.		If	an	
impairment	determination	is	made	in	a	future	reporting	period,	our	earnings	and	book	value	of	goodwill	will	be	
impairment	determination	is	made	in	a	future	reporting	period,	our	earnings	and	book	value	of	goodwill	will	be	
reduced	by	the	amount	of	the	impairment.		If	an	impairment	loss	is	recorded,	it	will	have	little	or	no	impact	on	the	
reduced	by	the	amount	of	the	impairment.		If	an	impairment	loss	is	recorded,	it	will	have	little	or	no	impact	on	the	
tangible	book	value	of	our	Common	Stock,	or	our	regulatory	capital	levels,	but	such	an	impairment	loss	could	
tangible	book	value	of	our	Common	Stock,	or	our	regulatory	capital	levels,	but	such	an	impairment	loss	could	
significantly	reduce	the	Bank’s	earnings	and	thereby	restrict	the	Bank’s	ability	to	make	dividend	payments	to	us	
significantly	reduce	the	Bank’s	earnings	and	thereby	restrict	the	Bank’s	ability	to	make	dividend	payments	to	us	
without	prior	regulatory	approval,	because	Federal	Reserve	policy	states	the	bank	holding	company	dividends	
without	prior	regulatory	approval,	because	Federal	Reserve	policy	states	the	bank	holding	company	dividends	
should	be	paid	from	current	earnings.		At	December	31,	2020,	the	book	value	of	our	goodwill	was	$2.0	billion,	
should	be	paid	from	current	earnings.		At	December	31,	2020,	the	book	value	of	our	goodwill	was	$2.0	billion,	
substantially	all	of	which	was	recorded	at	the	Bank.		Any	such	write	down	of	goodwill	or	other	acquisition	related	
substantially	all	of	which	was	recorded	at	the	Bank.		Any	such	write	down	of	goodwill	or	other	acquisition	related	
intangibles	will	reduce	Huntington’s	earnings,	as	well.		
intangibles	will	reduce	Huntington’s	earnings,	as	well.		

Compliance	Risks:

Compliance	Risks:

We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	corporate	

We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	corporate	

governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	them,	or	our	

governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	them,	or	our	

failure	to	comply	with	them,	may	adversely	affect	us.

failure	to	comply	with	them,	may	adversely	affect	us.

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	

regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	

regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	

depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole	-	not	to	

depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole	-	not	to	

protect	shareholders.		These	laws	and	regulations,	among	other	matters,	prescribe	minimum	capital	requirements,	

protect	shareholders.		These	laws	and	regulations,	among	other	matters,	prescribe	minimum	capital	requirements,	

impose	limitations	on	our	business	activities	(including	foreclosure	and	collection	practices),	limit	the	dividend	or	

impose	limitations	on	our	business	activities	(including	foreclosure	and	collection	practices),	limit	the	dividend	or	

distributions	that	we	can	pay,	restrict	the	ability	of	institutions	to	guarantee	our	debt,	and	impose	certain	specific	

distributions	that	we	can	pay,	restrict	the	ability	of	institutions	to	guarantee	our	debt,	and	impose	certain	specific	

accounting	requirements	that	may	be	more	restrictive	and	may	result	in	greater	or	earlier	charges	to	earnings	or	

accounting	requirements	that	may	be	more	restrictive	and	may	result	in	greater	or	earlier	charges	to	earnings	or	

reductions	in	our	capital	than	accounting	principles	generally	accepted	in	the	United	States.		Compliance	with	laws	

reductions	in	our	capital	than	accounting	principles	generally	accepted	in	the	United	States.		Compliance	with	laws	

and	regulations	can	be	difficult	and	costly,	and	changes	to	laws	and	regulations	often	impose	additional	compliance	

and	regulations	can	be	difficult	and	costly,	and	changes	to	laws	and	regulations	often	impose	additional	compliance	

costs.		Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	have	

costs.		Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	have	

increased	in	recent	years	in	response	to	the	financial	crisis,	as	well	as	other	factors	such	as	technological	and	market	

increased	in	recent	years	in	response	to	the	financial	crisis,	as	well	as	other	factors	such	as	technological	and	market	

changes.		Such	regulation	and	supervision	may	increase	our	costs	and	limit	our	ability	to	pursue	business	

changes.		Such	regulation	and	supervision	may	increase	our	costs	and	limit	our	ability	to	pursue	business	

opportunities.		Further,	our	failure	to	comply	with	these	laws	and	regulations,	even	if	the	failure	was	inadvertent	or	

opportunities.		Further,	our	failure	to	comply	with	these	laws	and	regulations,	even	if	the	failure	was	inadvertent	or	

reflects	a	difference	in	interpretation,	could	subject	us	to	restrictions	on	our	business	activities,	fines,	and	other	

reflects	a	difference	in	interpretation,	could	subject	us	to	restrictions	on	our	business	activities,	fines,	and	other	

penalties,	any	of	which	could	adversely	affect	our	results	of	operations,	capital	base,	and	the	price	of	our	securities.		

penalties,	any	of	which	could	adversely	affect	our	results	of	operations,	capital	base,	and	the	price	of	our	securities.		

Further,	any	new	laws,	rules,	and	regulations	could	make	compliance	more	difficult	or	expensive	or	otherwise	

Further,	any	new	laws,	rules,	and	regulations	could	make	compliance	more	difficult	or	expensive	or	otherwise	

adversely	affect	our	business	and	financial	condition.

adversely	affect	our	business	and	financial	condition.

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	materially	

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	materially	

adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	efficiency	of	our	

adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	efficiency	of	our	

internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	recorded	assets,	requiring	us	

internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	recorded	assets,	requiring	us	

to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	opportunities,	and	otherwise	resulting	in	

to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	opportunities,	and	otherwise	resulting	in	

a	material	adverse	impact	on	our	financial	condition,	results	of	operation,	liquidity,	or	stock	price.

a	material	adverse	impact	on	our	financial	condition,	results	of	operation,	liquidity,	or	stock	price.

Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	

Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	

increased	in	response	to	the	financial	crisis	as	well	as	other	factors	such	as	technological	and	market	changes.		

increased	in	response	to	the	financial	crisis	as	well	as	other	factors	such	as	technological	and	market	changes.		

Regulatory	enforcement	and	fines	have	also	increased	across	the	banking	and	financial	services	sector.		Compliance	

Regulatory	enforcement	and	fines	have	also	increased	across	the	banking	and	financial	services	sector.		Compliance	

with	these	laws	and	regulations	have	resulted	in	and	will	continue	to	result	in	additional	costs,	which	could	be	

with	these	laws	and	regulations	have	resulted	in	and	will	continue	to	result	in	additional	costs,	which	could	be	

significant,	and	may	have	a	material	and	adverse	effect	on	our	results	of	operations.		In	addition,	if	we	do	not	

significant,	and	may	have	a	material	and	adverse	effect	on	our	results	of	operations.		In	addition,	if	we	do	not	

appropriately	comply	with	current	or	future	legislation	and	regulations,	especially	those	that	apply	to	our	consumer	

appropriately	comply	with	current	or	future	legislation	and	regulations,	especially	those	that	apply	to	our	consumer	

operations,	which	has	been	an	area	of	heightened	focus,	we	may	be	subject	to	fines,	penalties	or	judgments,	or	

operations,	which	has	been	an	area	of	heightened	focus,	we	may	be	subject	to	fines,	penalties	or	judgments,	or	

material	regulatory	restrictions	on	our	businesses,	which	could	adversely	affect	operations	and,	in	turn,	financial	

material	regulatory	restrictions	on	our	businesses,	which	could	adversely	affect	operations	and,	in	turn,	financial	

We	expect	that	the	Biden	Administration	will	seek	to	implement	a	regulatory	reform	agenda	that	is	significantly	

We	expect	that	the	Biden	Administration	will	seek	to	implement	a	regulatory	reform	agenda	that	is	significantly	

different	than	that	of	the	Trump	Administration.		This	reform	agenda	could	include	a	heightened	focus	on	fair	

different	than	that	of	the	Trump	Administration.		This	reform	agenda	could	include	a	heightened	focus	on	fair	

lending,	the	regulation	of	loan	portfolios	and	credit	concentrations	to	borrowers	impacted	by	climate	change,	

lending,	the	regulation	of	loan	portfolios	and	credit	concentrations	to	borrowers	impacted	by	climate	change,	

heightened	scrutiny	on	Bank	Secrecy	Act	and	AML	requirements,	topics	related	to	social	equity,	executive	

heightened	scrutiny	on	Bank	Secrecy	Act	and	AML	requirements,	topics	related	to	social	equity,	executive	

compensation,	and	increased	capital	and	liquidity,	as	well	as	limits	on	share	buybacks	and	dividends.		In	addition,	

compensation,	and	increased	capital	and	liquidity,	as	well	as	limits	on	share	buybacks	and	dividends.		In	addition,	

mergers	and	acquisitions	could	be	dampened	by	increased	antitrust	scrutiny.		We	also	expect	reform	proposals	for	

mergers	and	acquisitions	could	be	dampened	by	increased	antitrust	scrutiny.		We	also	expect	reform	proposals	for	

the	short-term	wholesale	markets.		It	is	too	early	for	us	to	assess	which,	if	any	of	these	policies,	would	be	

the	short-term	wholesale	markets.		It	is	too	early	for	us	to	assess	which,	if	any	of	these	policies,	would	be	

implemented	and	what	their	impact	on	our	business	would	be.		

implemented	and	what	their	impact	on	our	business	would	be.		

36					Huntington	Bancshares	Incorporated
36					Huntington	Bancshares	Incorporated

2020	Form	10-K					37

2020	Form	10-K					37

sufficient	capitalization	when	we	do	not,	or	may	lead	us	to	misjudge	the	business	and	economic	environment	in	

sufficient	capitalization	when	we	do	not,	or	may	lead	us	to	misjudge	the	business	and	economic	environment	in	

Compliance	Risks:
Compliance	Risks:

which	we	will	operate.		If	our	models	fail	to	produce	reliable	results	on	an	ongoing	basis,	we	may	not	make	

which	we	will	operate.		If	our	models	fail	to	produce	reliable	results	on	an	ongoing	basis,	we	may	not	make	

appropriate	risk	management,	capital	planning,	or	other	business	or	financial	decisions.		Strategies	that	we	employ	

appropriate	risk	management,	capital	planning,	or	other	business	or	financial	decisions.		Strategies	that	we	employ	

to	manage	and	govern	the	risks	associated	with	our	use	of	models	may	not	be	effective	or	fully	reliable.		Also,	

to	manage	and	govern	the	risks	associated	with	our	use	of	models	may	not	be	effective	or	fully	reliable.		Also,	

information	that	we	provide	to	the	public	or	regulators	based	on	poorly	designed	models	could	be	inaccurate	or	

information	that	we	provide	to	the	public	or	regulators	based	on	poorly	designed	models	could	be	inaccurate	or	

Banking	regulators	continue	to	focus	on	the	models	used	by	banks	and	bank	holding	companies	in	their	

Banking	regulators	continue	to	focus	on	the	models	used	by	banks	and	bank	holding	companies	in	their	

businesses.		Some	of	our	decisions	that	the	regulators	evaluate,	including	distributions	to	our	shareholders,	could	be	

businesses.		Some	of	our	decisions	that	the	regulators	evaluate,	including	distributions	to	our	shareholders,	could	be	

affected	adversely	due	to	their	perception	that	the	quality	of	the	models	used	to	generate	the	relevant	information	

affected	adversely	due	to	their	perception	that	the	quality	of	the	models	used	to	generate	the	relevant	information	

misleading.

misleading.

are	insufficient.

are	insufficient.

We	rely	on	third	parties	to	provide	key	components	of	our	business	infrastructure.		

We	rely	on	third	parties	to	provide	key	components	of	our	business	infrastructure.		

We	rely	on	third-party	service	providers	to	leverage	subject	matter	expertise	and	industry	best	practice,	provide	

We	rely	on	third-party	service	providers	to	leverage	subject	matter	expertise	and	industry	best	practice,	provide	

enhanced	products	and	services,	and	reduce	costs.		Although	there	are	benefits	in	entering	into	third-party	

enhanced	products	and	services,	and	reduce	costs.		Although	there	are	benefits	in	entering	into	third-party	

relationships	with	vendors	and	others,	there	are	risks	associated	with	such	activities.		When	entering	a	third-party	

relationships	with	vendors	and	others,	there	are	risks	associated	with	such	activities.		When	entering	a	third-party	

relationship,	the	risks	associated	with	that	activity	are	not	passed	to	the	third-party	but	remain	our	responsibility.		

relationship,	the	risks	associated	with	that	activity	are	not	passed	to	the	third-party	but	remain	our	responsibility.		

The	Technology	Committee	of	the	board	of	directors	provides	oversight	related	to	the	overall	risk	management	

The	Technology	Committee	of	the	board	of	directors	provides	oversight	related	to	the	overall	risk	management	

process	associated	with	third-party	relationships.		Management	is	accountable	for	the	review	and	evaluation	of	all	

process	associated	with	third-party	relationships.		Management	is	accountable	for	the	review	and	evaluation	of	all	

new	and	existing	third-party	relationships.		Management	is	responsible	for	ensuring	that	adequate	controls	are	in	

new	and	existing	third-party	relationships.		Management	is	responsible	for	ensuring	that	adequate	controls	are	in	

place	to	protect	us	and	our	customers	from	the	risks	associated	with	vendor	relationships.		

place	to	protect	us	and	our	customers	from	the	risks	associated	with	vendor	relationships.		

Increased	risk	could	occur	based	on	poor	planning,	oversight,	control,	and	inferior	performance	or	service	on	the	

Increased	risk	could	occur	based	on	poor	planning,	oversight,	control,	and	inferior	performance	or	service	on	the	

part	of	the	third-party,	and	may	result	in	legal	costs	or	loss	of	business.		While	we	have	implemented	a	vendor	

part	of	the	third-party,	and	may	result	in	legal	costs	or	loss	of	business.		While	we	have	implemented	a	vendor	

management	program	to	actively	manage	the	risks	associated	with	the	use	of	third-party	service	providers,	any	

management	program	to	actively	manage	the	risks	associated	with	the	use	of	third-party	service	providers,	any	

problems	caused	by	third-party	service	providers	could	adversely	affect	our	ability	to	deliver	products	and	services	

problems	caused	by	third-party	service	providers	could	adversely	affect	our	ability	to	deliver	products	and	services	

to	our	customers	and	to	conduct	our	business.		Replacing	a	third-party	service	provider	could	also	take	a	long	period	

to	our	customers	and	to	conduct	our	business.		Replacing	a	third-party	service	provider	could	also	take	a	long	period	

of	time	and	result	in	increased	expenses.		

of	time	and	result	in	increased	expenses.		

Changes	in	accounting	policies,	standards,	and	interpretations	could	affect	how	we	report	our	financial	condition	

Changes	in	accounting	policies,	standards,	and	interpretations	could	affect	how	we	report	our	financial	condition	

and	results	of	operations.

and	results	of	operations.

The	FASB,	regulatory	agencies,	and	other	bodies	that	establish	accounting	standards	periodically	change	the	

The	FASB,	regulatory	agencies,	and	other	bodies	that	establish	accounting	standards	periodically	change	the	

financial	accounting	and	reporting	standards	governing	the	preparation	of	our	financial	statements.		Additionally,	

financial	accounting	and	reporting	standards	governing	the	preparation	of	our	financial	statements.		Additionally,	

those	bodies	that	establish	and	interpret	the	accounting	standards	(such	as	the	FASB,	SEC,	and	banking	regulators)	

those	bodies	that	establish	and	interpret	the	accounting	standards	(such	as	the	FASB,	SEC,	and	banking	regulators)	

may	change	prior	interpretations	or	positions	on	how	these	standards	should	be	applied.		

may	change	prior	interpretations	or	positions	on	how	these	standards	should	be	applied.		

For	further	discussion,	see	Note	2	-	“Accounting	Standards	Update”	to	the	Consolidated	Financial	Statements.		

For	further	discussion,	see	Note	2	-	“Accounting	Standards	Update”	to	the	Consolidated	Financial	Statements.		

Impairment	of	goodwill	could	require	charges	to	earnings,	which	could	result	in	a	negative	impact	on	our	results	

Impairment	of	goodwill	could	require	charges	to	earnings,	which	could	result	in	a	negative	impact	on	our	results	

of	operations.

of	operations.

Our	goodwill	could	become	impaired	in	the	future.		If	goodwill	were	to	become	impaired,	it	could	limit	the	ability	

Our	goodwill	could	become	impaired	in	the	future.		If	goodwill	were	to	become	impaired,	it	could	limit	the	ability	

of	the	Bank	to	pay	dividends	to	Huntington,	adversely	impacting	Huntington	liquidity	and	ability	to	pay	dividends	or	

of	the	Bank	to	pay	dividends	to	Huntington,	adversely	impacting	Huntington	liquidity	and	ability	to	pay	dividends	or	

repay	debt.		The	most	significant	assumptions	affecting	our	goodwill	impairment	evaluation	are	variables	including	

repay	debt.		The	most	significant	assumptions	affecting	our	goodwill	impairment	evaluation	are	variables	including	

the	market	price	of	our	Common	Stock,	projections	of	earnings,	the	discount	rates	used	in	the	income	approach	to	

the	market	price	of	our	Common	Stock,	projections	of	earnings,	the	discount	rates	used	in	the	income	approach	to	

fair	value,	and	the	control	premium	above	our	current	stock	price	that	an	acquirer	would	pay	to	obtain	control	of	us.		

fair	value,	and	the	control	premium	above	our	current	stock	price	that	an	acquirer	would	pay	to	obtain	control	of	us.		

We	are	required	to	test	goodwill	for	impairment	at	least	annually	or	when	impairment	indicators	are	present.		If	an	

We	are	required	to	test	goodwill	for	impairment	at	least	annually	or	when	impairment	indicators	are	present.		If	an	

impairment	determination	is	made	in	a	future	reporting	period,	our	earnings	and	book	value	of	goodwill	will	be	

impairment	determination	is	made	in	a	future	reporting	period,	our	earnings	and	book	value	of	goodwill	will	be	

reduced	by	the	amount	of	the	impairment.		If	an	impairment	loss	is	recorded,	it	will	have	little	or	no	impact	on	the	

reduced	by	the	amount	of	the	impairment.		If	an	impairment	loss	is	recorded,	it	will	have	little	or	no	impact	on	the	

tangible	book	value	of	our	Common	Stock,	or	our	regulatory	capital	levels,	but	such	an	impairment	loss	could	

tangible	book	value	of	our	Common	Stock,	or	our	regulatory	capital	levels,	but	such	an	impairment	loss	could	

significantly	reduce	the	Bank’s	earnings	and	thereby	restrict	the	Bank’s	ability	to	make	dividend	payments	to	us	

significantly	reduce	the	Bank’s	earnings	and	thereby	restrict	the	Bank’s	ability	to	make	dividend	payments	to	us	

without	prior	regulatory	approval,	because	Federal	Reserve	policy	states	the	bank	holding	company	dividends	

without	prior	regulatory	approval,	because	Federal	Reserve	policy	states	the	bank	holding	company	dividends	

should	be	paid	from	current	earnings.		At	December	31,	2020,	the	book	value	of	our	goodwill	was	$2.0	billion,	

should	be	paid	from	current	earnings.		At	December	31,	2020,	the	book	value	of	our	goodwill	was	$2.0	billion,	

substantially	all	of	which	was	recorded	at	the	Bank.		Any	such	write	down	of	goodwill	or	other	acquisition	related	

substantially	all	of	which	was	recorded	at	the	Bank.		Any	such	write	down	of	goodwill	or	other	acquisition	related	

intangibles	will	reduce	Huntington’s	earnings,	as	well.		

intangibles	will	reduce	Huntington’s	earnings,	as	well.		

We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	corporate	
We	operate	in	a	highly	regulated	industry,	and	the	laws	and	regulations	that	govern	our	operations,	corporate	
governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	them,	or	our	
governance,	executive	compensation	and	financial	accounting,	or	reporting,	including	changes	in	them,	or	our	
failure	to	comply	with	them,	may	adversely	affect	us.
failure	to	comply	with	them,	may	adversely	affect	us.

The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	
The	banking	industry	is	highly	regulated.		We	are	subject	to	supervision,	regulation,	and	examination	by	various	

federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	
federal	and	state	regulators,	including	the	Federal	Reserve,	OCC,	SEC,	CFPB,	FDIC,	FINRA,	and	various	state	
regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	
regulatory	agencies.		The	statutory	and	regulatory	framework	that	governs	us	is	generally	intended	to	protect	
depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole	-	not	to	
depositors	and	customers,	the	DIF,	the	U.S.	banking	and	financial	system,	and	financial	markets	as	a	whole	-	not	to	
protect	shareholders.		These	laws	and	regulations,	among	other	matters,	prescribe	minimum	capital	requirements,	
protect	shareholders.		These	laws	and	regulations,	among	other	matters,	prescribe	minimum	capital	requirements,	
impose	limitations	on	our	business	activities	(including	foreclosure	and	collection	practices),	limit	the	dividend	or	
impose	limitations	on	our	business	activities	(including	foreclosure	and	collection	practices),	limit	the	dividend	or	
distributions	that	we	can	pay,	restrict	the	ability	of	institutions	to	guarantee	our	debt,	and	impose	certain	specific	
distributions	that	we	can	pay,	restrict	the	ability	of	institutions	to	guarantee	our	debt,	and	impose	certain	specific	
accounting	requirements	that	may	be	more	restrictive	and	may	result	in	greater	or	earlier	charges	to	earnings	or	
accounting	requirements	that	may	be	more	restrictive	and	may	result	in	greater	or	earlier	charges	to	earnings	or	
reductions	in	our	capital	than	accounting	principles	generally	accepted	in	the	United	States.		Compliance	with	laws	
reductions	in	our	capital	than	accounting	principles	generally	accepted	in	the	United	States.		Compliance	with	laws	
and	regulations	can	be	difficult	and	costly,	and	changes	to	laws	and	regulations	often	impose	additional	compliance	
and	regulations	can	be	difficult	and	costly,	and	changes	to	laws	and	regulations	often	impose	additional	compliance	
costs.		Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	have	
costs.		Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	have	
increased	in	recent	years	in	response	to	the	financial	crisis,	as	well	as	other	factors	such	as	technological	and	market	
increased	in	recent	years	in	response	to	the	financial	crisis,	as	well	as	other	factors	such	as	technological	and	market	
changes.		Such	regulation	and	supervision	may	increase	our	costs	and	limit	our	ability	to	pursue	business	
changes.		Such	regulation	and	supervision	may	increase	our	costs	and	limit	our	ability	to	pursue	business	
opportunities.		Further,	our	failure	to	comply	with	these	laws	and	regulations,	even	if	the	failure	was	inadvertent	or	
opportunities.		Further,	our	failure	to	comply	with	these	laws	and	regulations,	even	if	the	failure	was	inadvertent	or	
reflects	a	difference	in	interpretation,	could	subject	us	to	restrictions	on	our	business	activities,	fines,	and	other	
reflects	a	difference	in	interpretation,	could	subject	us	to	restrictions	on	our	business	activities,	fines,	and	other	
penalties,	any	of	which	could	adversely	affect	our	results	of	operations,	capital	base,	and	the	price	of	our	securities.		
penalties,	any	of	which	could	adversely	affect	our	results	of	operations,	capital	base,	and	the	price	of	our	securities.		
Further,	any	new	laws,	rules,	and	regulations	could	make	compliance	more	difficult	or	expensive	or	otherwise	
Further,	any	new	laws,	rules,	and	regulations	could	make	compliance	more	difficult	or	expensive	or	otherwise	
adversely	affect	our	business	and	financial	condition.
adversely	affect	our	business	and	financial	condition.

Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	materially	
Legislative	and	regulatory	actions	taken	now	or	in	the	future	that	impact	the	financial	industry	may	materially	
adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	efficiency	of	our	
adversely	affect	us	by	increasing	our	costs,	adding	complexity	in	doing	business,	impeding	the	efficiency	of	our	
internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	recorded	assets,	requiring	us	
internal	business	processes,	negatively	impacting	the	recoverability	of	certain	of	our	recorded	assets,	requiring	us	
to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	opportunities,	and	otherwise	resulting	in	
to	increase	our	regulatory	capital,	limiting	our	ability	to	pursue	business	opportunities,	and	otherwise	resulting	in	
a	material	adverse	impact	on	our	financial	condition,	results	of	operation,	liquidity,	or	stock	price.
a	material	adverse	impact	on	our	financial	condition,	results	of	operation,	liquidity,	or	stock	price.

Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	
Both	the	scope	of	the	laws	and	regulations	and	the	intensity	of	the	supervision	to	which	we	are	subject	
increased	in	response	to	the	financial	crisis	as	well	as	other	factors	such	as	technological	and	market	changes.		
increased	in	response	to	the	financial	crisis	as	well	as	other	factors	such	as	technological	and	market	changes.		
Regulatory	enforcement	and	fines	have	also	increased	across	the	banking	and	financial	services	sector.		Compliance	
Regulatory	enforcement	and	fines	have	also	increased	across	the	banking	and	financial	services	sector.		Compliance	
with	these	laws	and	regulations	have	resulted	in	and	will	continue	to	result	in	additional	costs,	which	could	be	
with	these	laws	and	regulations	have	resulted	in	and	will	continue	to	result	in	additional	costs,	which	could	be	
significant,	and	may	have	a	material	and	adverse	effect	on	our	results	of	operations.		In	addition,	if	we	do	not	
significant,	and	may	have	a	material	and	adverse	effect	on	our	results	of	operations.		In	addition,	if	we	do	not	
appropriately	comply	with	current	or	future	legislation	and	regulations,	especially	those	that	apply	to	our	consumer	
appropriately	comply	with	current	or	future	legislation	and	regulations,	especially	those	that	apply	to	our	consumer	
operations,	which	has	been	an	area	of	heightened	focus,	we	may	be	subject	to	fines,	penalties	or	judgments,	or	
operations,	which	has	been	an	area	of	heightened	focus,	we	may	be	subject	to	fines,	penalties	or	judgments,	or	
material	regulatory	restrictions	on	our	businesses,	which	could	adversely	affect	operations	and,	in	turn,	financial	
material	regulatory	restrictions	on	our	businesses,	which	could	adversely	affect	operations	and,	in	turn,	financial	
results.
results.

We	expect	that	the	Biden	Administration	will	seek	to	implement	a	regulatory	reform	agenda	that	is	significantly	
We	expect	that	the	Biden	Administration	will	seek	to	implement	a	regulatory	reform	agenda	that	is	significantly	

different	than	that	of	the	Trump	Administration.		This	reform	agenda	could	include	a	heightened	focus	on	fair	
different	than	that	of	the	Trump	Administration.		This	reform	agenda	could	include	a	heightened	focus	on	fair	
lending,	the	regulation	of	loan	portfolios	and	credit	concentrations	to	borrowers	impacted	by	climate	change,	
lending,	the	regulation	of	loan	portfolios	and	credit	concentrations	to	borrowers	impacted	by	climate	change,	
heightened	scrutiny	on	Bank	Secrecy	Act	and	AML	requirements,	topics	related	to	social	equity,	executive	
heightened	scrutiny	on	Bank	Secrecy	Act	and	AML	requirements,	topics	related	to	social	equity,	executive	
compensation,	and	increased	capital	and	liquidity,	as	well	as	limits	on	share	buybacks	and	dividends.		In	addition,	
compensation,	and	increased	capital	and	liquidity,	as	well	as	limits	on	share	buybacks	and	dividends.		In	addition,	
mergers	and	acquisitions	could	be	dampened	by	increased	antitrust	scrutiny.		We	also	expect	reform	proposals	for	
mergers	and	acquisitions	could	be	dampened	by	increased	antitrust	scrutiny.		We	also	expect	reform	proposals	for	
the	short-term	wholesale	markets.		It	is	too	early	for	us	to	assess	which,	if	any	of	these	policies,	would	be	
the	short-term	wholesale	markets.		It	is	too	early	for	us	to	assess	which,	if	any	of	these	policies,	would	be	
implemented	and	what	their	impact	on	our	business	would	be.		
implemented	and	what	their	impact	on	our	business	would	be.		

36					Huntington	Bancshares	Incorporated

36					Huntington	Bancshares	Incorporated

2020	Form	10-K					37
2020	Form	10-K					37

The	resolution	of	significant	pending	litigation,	if	unfavorable,	could	have	an	adverse	effect	on	our	results	of	
The	resolution	of	significant	pending	litigation,	if	unfavorable,	could	have	an	adverse	effect	on	our	results	of	
operations	for	a	particular	period.
operations	for	a	particular	period.

our	strategic	plan,	introducing	new	products	or	services,	achieving	market	acceptance	of	new	product	or	services,	

our	strategic	plan,	introducing	new	products	or	services,	achieving	market	acceptance	of	new	product	or	services,	

anticipating	or	reacting	to	customers	changing	preferences	or	attracting	and	retaining	loyal	customers.

anticipating	or	reacting	to	customers	changing	preferences	or	attracting	and	retaining	loyal	customers.

We	face	legal	risks	in	our	businesses,	and	the	volume	of	claims	and	amount	of	damages	and	penalties	claimed	in	
We	face	legal	risks	in	our	businesses,	and	the	volume	of	claims	and	amount	of	damages	and	penalties	claimed	in	

We	depend	on	our	executive	officers	and	key	personnel	to	continue	the	implementation	of	our	long-term	

We	depend	on	our	executive	officers	and	key	personnel	to	continue	the	implementation	of	our	long-term	

litigation	and	regulatory	proceedings	against	financial	institutions	remain	high.		Substantial	legal	liability	against	us	
litigation	and	regulatory	proceedings	against	financial	institutions	remain	high.		Substantial	legal	liability	against	us	
could	have	material	adverse	financial	effects	or	cause	significant	reputational	harm	to	us,	which	in	turn	could	
could	have	material	adverse	financial	effects	or	cause	significant	reputational	harm	to	us,	which	in	turn	could	
seriously	harm	our	business	prospects.		It	is	possible	that	the	ultimate	resolution	of	these	matters,	if	unfavorable,	
seriously	harm	our	business	prospects.		It	is	possible	that	the	ultimate	resolution	of	these	matters,	if	unfavorable,	
may	be	material	to	the	results	of	operations	for	a	particular	reporting	period.
may	be	material	to	the	results	of	operations	for	a	particular	reporting	period.

For	more	information	on	litigation	risks,	see	Note	23	-	“Commitments	and	Contingent	Liabilities”	to	the	
For	more	information	on	litigation	risks,	see	Note	23	-	“Commitments	and	Contingent	Liabilities”	to	the	

Consolidated	Financial	Statements.
Consolidated	Financial	Statements.

Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	cause	
Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	cause	
us	material	financial	loss.		
us	material	financial	loss.		

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	
The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	
intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	
activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	
activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	
companies	to	undertake	activities	including	maintaining	an	anti-money	laundering	program,	verifying	the	identity	of	
companies	to	undertake	activities	including	maintaining	an	anti-money	laundering	program,	verifying	the	identity	of	
clients,	monitoring	for	and	reporting	suspicious	transactions,	reporting	on	cash	transactions	exceeding	specified	
clients,	monitoring	for	and	reporting	suspicious	transactions,	reporting	on	cash	transactions	exceeding	specified	
thresholds,	and	responding	to	requests	for	information	by	regulatory	authorities	and	law	enforcement	agencies.		
thresholds,	and	responding	to	requests	for	information	by	regulatory	authorities	and	law	enforcement	agencies.		
FinCEN,	a	unit	of	the	Treasury	Department	that	administers	the	Bank	Secrecy	Act,	is	authorized	to	impose	significant	
FinCEN,	a	unit	of	the	Treasury	Department	that	administers	the	Bank	Secrecy	Act,	is	authorized	to	impose	significant	
civil	money	penalties	for	violations	of	those	requirements	and	has	recently	engaged	in	coordinated	enforcement	
civil	money	penalties	for	violations	of	those	requirements	and	has	recently	engaged	in	coordinated	enforcement	
efforts	with	the	federal	bank	regulatory	agencies,	as	well	as	the	United	States	Department	of	Justice,	Drug	
efforts	with	the	federal	bank	regulatory	agencies,	as	well	as	the	United	States	Department	of	Justice,	Drug	
Enforcement	Administration,	and	IRS.
Enforcement	Administration,	and	IRS.

There	is	also	increased	scrutiny	of	compliance	with	the	rules	enforced	by	the	OFAC.		If	our	policies,	procedures,	
There	is	also	increased	scrutiny	of	compliance	with	the	rules	enforced	by	the	OFAC.		If	our	policies,	procedures,	
and	systems	are	deemed	deficient	or	the	policies,	procedures,	and	systems	of	the	financial	institutions	that	we	have	
and	systems	are	deemed	deficient	or	the	policies,	procedures,	and	systems	of	the	financial	institutions	that	we	have	
already	acquired	or	may	acquire	in	the	future	are	deficient,	we	would	be	subject	to	liability,	including	fines	and	
already	acquired	or	may	acquire	in	the	future	are	deficient,	we	would	be	subject	to	liability,	including	fines	and	
regulatory	actions	such	as	restrictions	on	our	ability	to	pay	dividends	and	the	necessity	to	obtain	regulatory	
regulatory	actions	such	as	restrictions	on	our	ability	to	pay	dividends	and	the	necessity	to	obtain	regulatory	
approvals	to	proceed	with	certain	planned	business	activities,	including	acquisition	plans,	which	would	negatively	
approvals	to	proceed	with	certain	planned	business	activities,	including	acquisition	plans,	which	would	negatively	
impact	our	business,	financial	condition,	and	results	of	operations.		Failure	to	maintain	and	implement	adequate	
impact	our	business,	financial	condition,	and	results	of	operations.		Failure	to	maintain	and	implement	adequate	
programs	to	combat	money	laundering	and	terrorist	financing	could	also	have	serious	reputational	consequences	for	
programs	to	combat	money	laundering	and	terrorist	financing	could	also	have	serious	reputational	consequences	for	
us.
us.

For	more	information	regarding	the	Bank	Secrecy	Act,	Patriot	Act,	anti-money	laundering	requirements	and	
For	more	information	regarding	the	Bank	Secrecy	Act,	Patriot	Act,	anti-money	laundering	requirements	and	

OFAC-administered	sanctions,	refer	to	Item	1:	Business	-	“Regulatory	Matters”.
OFAC-administered	sanctions,	refer	to	Item	1:	Business	-	“Regulatory	Matters”.

Strategic	Risk:
Strategic	Risk:

We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	strategic	
We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	strategic	
plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	preferences.	
plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	preferences.	

We	are	subject	to	intense	competition	from	both	other	financial	institutions	and	from	non-bank	entities,	
We	are	subject	to	intense	competition	from	both	other	financial	institutions	and	from	non-bank	entities,	
including	FinTech	companies.		Technology	has	lowered	the	barriers	to	entry,	with	customers	having	a	growing	
including	FinTech	companies.		Technology	has	lowered	the	barriers	to	entry,	with	customers	having	a	growing	
variety	of	traditional	and	nontraditional	alternatives,	including	crowdfunding,	digital	wallets	and	money	transfer	
variety	of	traditional	and	nontraditional	alternatives,	including	crowdfunding,	digital	wallets	and	money	transfer	
services.		The	continuous	widespread	adoption	of	new	technologies,	including	internet	services	and	mobile	
services.		The	continuous	widespread	adoption	of	new	technologies,	including	internet	services	and	mobile	
applications,	and	advanced	ATM	functionality,	is	influencing	how	individuals	and	firms	conduct	their	financial	affairs	
applications,	and	advanced	ATM	functionality,	is	influencing	how	individuals	and	firms	conduct	their	financial	affairs	
and	is	changing	the	delivery	channels	for	financial	services.		Our	“People-First,	Digitally-Powered”	strategic	plan	
and	is	changing	the	delivery	channels	for	financial	services.		Our	“People-First,	Digitally-Powered”	strategic	plan	
considers	the	implications	of	these	changes	in	technology.		Additionally,	these	changes	require	us	to	adapt	our	
considers	the	implications	of	these	changes	in	technology.		Additionally,	these	changes	require	us	to	adapt	our	
product	and	services,	as	well	as	our	distribution	of	them,	to	evolving	industry	standards	and	customer	preferences.	
product	and	services,	as	well	as	our	distribution	of	them,	to	evolving	industry	standards	and	customer	preferences.	
Failure	to	address	competitive	pressures	could	make	it	more	difficult	for	us	to	attract	and	retain	customers	across	
Failure	to	address	competitive	pressures	could	make	it	more	difficult	for	us	to	attract	and	retain	customers	across	
our	businesses.		
our	businesses.		

Our	success	depends,	in	part,	on	our	ability	to	successfully	implement	our	strategic	plan	as	well	as	adapt	existing	
Our	success	depends,	in	part,	on	our	ability	to	successfully	implement	our	strategic	plan	as	well	as	adapt	existing	

products	and	services	and	develop	competitive	new	products	and	services	demanded	by	our	customers.		The	
products	and	services	and	develop	competitive	new	products	and	services	demanded	by	our	customers.		The	
widespread	adoption	of	technologies	will	continue	to	require	substantial	investments	to	modify	or	adapt	existing	
widespread	adoption	of	technologies	will	continue	to	require	substantial	investments	to	modify	or	adapt	existing	
products	and	services	and	to	develop	new	product	or	services.		Additionally,	we	may	not	be	successful	in	executing	
products	and	services	and	to	develop	new	product	or	services.		Additionally,	we	may	not	be	successful	in	executing	

business	strategy	and	could	be	harmed	by	the	loss	of	their	services.

business	strategy	and	could	be	harmed	by	the	loss	of	their	services.

We	believe	that	our	continued	growth	and	future	success	will	depend	in	large	part	on	the	skills	of	our	

We	believe	that	our	continued	growth	and	future	success	will	depend	in	large	part	on	the	skills	of	our	

management	team	and	our	ability	to	motivate	and	retain	these	individuals	and	other	key	personnel.		The	loss	of	

management	team	and	our	ability	to	motivate	and	retain	these	individuals	and	other	key	personnel.		The	loss	of	

service	of	one	or	more	of	our	executive	officers	or	key	personnel	could	reduce	our	ability	to	successfully	implement	

service	of	one	or	more	of	our	executive	officers	or	key	personnel	could	reduce	our	ability	to	successfully	implement	

our	long-term	business	strategy,	our	business	could	suffer,	and	the	value	of	our	stock	could	be	materially	adversely	

our	long-term	business	strategy,	our	business	could	suffer,	and	the	value	of	our	stock	could	be	materially	adversely	

affected.		Leadership	changes	will	occur	from	time	to	time,	and	we	cannot	predict	whether	significant	resignations	

affected.		Leadership	changes	will	occur	from	time	to	time,	and	we	cannot	predict	whether	significant	resignations	

will	occur	or	whether	we	will	be	able	to	recruit	additional	qualified	personnel.		We	believe	our	management	team	

will	occur	or	whether	we	will	be	able	to	recruit	additional	qualified	personnel.		We	believe	our	management	team	

possesses	valuable	knowledge	about	the	banking	industry	and	that	their	knowledge	and	relationships	would	be	very	

possesses	valuable	knowledge	about	the	banking	industry	and	that	their	knowledge	and	relationships	would	be	very	

difficult	to	replicate.		Our	success	also	depends	on	the	experience	of	our	branch	managers	and	lending	officers	and	

difficult	to	replicate.		Our	success	also	depends	on	the	experience	of	our	branch	managers	and	lending	officers	and	

on	their	relationships	with	the	customers	and	communities	they	serve.		The	loss	of	these	key	personnel	could	

on	their	relationships	with	the	customers	and	communities	they	serve.		The	loss	of	these	key	personnel	could	

negatively	impact	our	banking	operations.		The	loss	of	key	personnel,	or	the	inability	to	recruit	and	retain	qualified	

negatively	impact	our	banking	operations.		The	loss	of	key	personnel,	or	the	inability	to	recruit	and	retain	qualified	

personnel	in	the	future,	could	have	an	adverse	effect	on	our	business,	financial	condition,	or	operating	results.

personnel	in	the	future,	could	have	an	adverse	effect	on	our	business,	financial	condition,	or	operating	results.

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	

capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	

capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	

regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-

regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-

effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

The	Federal	Reserve	administers	CCAR,	a	periodic	forward-looking	quantitative	assessment	of	Huntington’s	

The	Federal	Reserve	administers	CCAR,	a	periodic	forward-looking	quantitative	assessment	of	Huntington’s	

capital	adequacy	and	planned	capital	distributions	and	a	review	of	the	strength	of	Huntington’s	practices	to	assess	

capital	adequacy	and	planned	capital	distributions	and	a	review	of	the	strength	of	Huntington’s	practices	to	assess	

capital	needs.		The	Federal	Reserve	makes	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	tests	

capital	needs.		The	Federal	Reserve	makes	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	tests	

that	assess	the	ability	to	maintain	capital	levels	above	each	minimum	regulatory	capital	ratio	after	making	all	capital	

that	assess	the	ability	to	maintain	capital	levels	above	each	minimum	regulatory	capital	ratio	after	making	all	capital	

actions	included	in	Huntington’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	a	nine-quarter	

actions	included	in	Huntington’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	a	nine-quarter	

planning	horizon.		The	CCAR	process	is	also	used	to	determine	Huntington’s	stress	capital	buffer	requirement.		There	

planning	horizon.		The	CCAR	process	is	also	used	to	determine	Huntington’s	stress	capital	buffer	requirement.		There	

can	be	no	assurance	that	the	Federal	Reserve	or	OCC	will	respond	favorably	to	our	capital	plans,	planned	capital	

can	be	no	assurance	that	the	Federal	Reserve	or	OCC	will	respond	favorably	to	our	capital	plans,	planned	capital	

actions	or	stress	test	results,	and	the	Federal	Reserve,	OCC,	or	other	regulatory	capital	requirements	may	limit	or	

actions	or	stress	test	results,	and	the	Federal	Reserve,	OCC,	or	other	regulatory	capital	requirements	may	limit	or	

otherwise	restrict	how	we	utilize	our	capital,	including	common	stock	dividends	and	stock	repurchases.		

otherwise	restrict	how	we	utilize	our	capital,	including	common	stock	dividends	and	stock	repurchases.		

We	are	also	required	to	maintain	minimum	capital	ratios	and	the	Federal	Reserve	and	OCC	may	determine	that	

We	are	also	required	to	maintain	minimum	capital	ratios	and	the	Federal	Reserve	and	OCC	may	determine	that	

Huntington	and/or	the	Bank,	based	on	size,	complexity,	or	risk	profile,	must	maintain	capital	ratios	above	these	

Huntington	and/or	the	Bank,	based	on	size,	complexity,	or	risk	profile,	must	maintain	capital	ratios	above	these	

minimums	in	order	to	operate	in	a	safe	and	sound	manner.		In	the	event	we	are	required	to	raise	capital	to	maintain	

minimums	in	order	to	operate	in	a	safe	and	sound	manner.		In	the	event	we	are	required	to	raise	capital	to	maintain	

required	minimum	capital	and	leverage	ratios	or	ratios	above	the	required	applicable	minimums,	we	may	be	forced	

required	minimum	capital	and	leverage	ratios	or	ratios	above	the	required	applicable	minimums,	we	may	be	forced	

to	do	so	when	market	conditions	are	undesirable	or	on	terms	that	are	less	favorable	to	us	than	we	would	otherwise	

to	do	so	when	market	conditions	are	undesirable	or	on	terms	that	are	less	favorable	to	us	than	we	would	otherwise	

require.		Furthermore,	in	order	to	prevent	becoming	subject	to	restrictions	on	our	ability	to	distribute	capital	or	

require.		Furthermore,	in	order	to	prevent	becoming	subject	to	restrictions	on	our	ability	to	distribute	capital	or	

make	certain	discretionary	bonus	payments	to	management,	the	Bank	must	maintain	a	Capital	Conservation	Buffer	

make	certain	discretionary	bonus	payments	to	management,	the	Bank	must	maintain	a	Capital	Conservation	Buffer	

of	2.5%,	and	Huntington	must	maintain	the	applicable	stress	capital	buffer	determined	as	part	of	the	CCAR	process,	

of	2.5%,	and	Huntington	must	maintain	the	applicable	stress	capital	buffer	determined	as	part	of	the	CCAR	process,	

which	are	in	addition	to	our	required	minimum	capital	ratios.

which	are	in	addition	to	our	required	minimum	capital	ratios.

For	more	information	regarding	CCAR,	stress	testing,	and	capital	and	liquidity	requirements,	refer	to	Item	1:	

For	more	information	regarding	CCAR,	stress	testing,	and	capital	and	liquidity	requirements,	refer	to	Item	1:	

Business	-	“Regulatory	Matters”.

Business	-	“Regulatory	Matters”.

If	our	regulators	deem	it	appropriate,	they	can	take	regulatory	actions	that	could	result	in	a	material	adverse	

If	our	regulators	deem	it	appropriate,	they	can	take	regulatory	actions	that	could	result	in	a	material	adverse	

impact	on	our	financial	results,	ability	to	compete	for	new	business,	or	preclude	mergers	or	acquisitions.		In	

impact	on	our	financial	results,	ability	to	compete	for	new	business,	or	preclude	mergers	or	acquisitions.		In	

addition,	regulatory	actions	could	constrain	our	ability	to	fund	our	liquidity	needs	or	pay	dividends.		Any	of	these	

addition,	regulatory	actions	could	constrain	our	ability	to	fund	our	liquidity	needs	or	pay	dividends.		Any	of	these	

actions	could	increase	the	cost	of	our	services.		

actions	could	increase	the	cost	of	our	services.		

We	are	subject	to	the	supervision	and	regulation	of	various	state	and	federal	regulators,	including	the	OCC,	

We	are	subject	to	the	supervision	and	regulation	of	various	state	and	federal	regulators,	including	the	OCC,	

Federal	Reserve,	FDIC,	SEC,	CFPB,	FINRA,	and	various	state	regulatory	agencies.		As	such,	we	are	subject	to	a	wide	

Federal	Reserve,	FDIC,	SEC,	CFPB,	FINRA,	and	various	state	regulatory	agencies.		As	such,	we	are	subject	to	a	wide	

variety	of	laws	and	regulations,	many	of	which	are	discussed	in	Item	1:	Business	-	“Regulatory	Matters”.		As	part	of	

variety	of	laws	and	regulations,	many	of	which	are	discussed	in	Item	1:	Business	-	“Regulatory	Matters”.		As	part	of	

their	supervisory	process,	which	includes	periodic	examinations	and	continuous	monitoring,	the	regulators	have	the	

their	supervisory	process,	which	includes	periodic	examinations	and	continuous	monitoring,	the	regulators	have	the	

authority	to	impose	restrictions	or	conditions	on	our	activities	and	the	manner	in	which	we	manage	the	

authority	to	impose	restrictions	or	conditions	on	our	activities	and	the	manner	in	which	we	manage	the	

organization.		Such	actions	could	negatively	impact	us	in	a	variety	of	ways,	including	charging	monetary	fines,	

organization.		Such	actions	could	negatively	impact	us	in	a	variety	of	ways,	including	charging	monetary	fines,	

38					Huntington	Bancshares	Incorporated
38					Huntington	Bancshares	Incorporated

2020	Form	10-K					39

2020	Form	10-K					39

The	resolution	of	significant	pending	litigation,	if	unfavorable,	could	have	an	adverse	effect	on	our	results	of	

The	resolution	of	significant	pending	litigation,	if	unfavorable,	could	have	an	adverse	effect	on	our	results	of	

operations	for	a	particular	period.

operations	for	a	particular	period.

We	face	legal	risks	in	our	businesses,	and	the	volume	of	claims	and	amount	of	damages	and	penalties	claimed	in	

We	face	legal	risks	in	our	businesses,	and	the	volume	of	claims	and	amount	of	damages	and	penalties	claimed	in	

litigation	and	regulatory	proceedings	against	financial	institutions	remain	high.		Substantial	legal	liability	against	us	

litigation	and	regulatory	proceedings	against	financial	institutions	remain	high.		Substantial	legal	liability	against	us	

could	have	material	adverse	financial	effects	or	cause	significant	reputational	harm	to	us,	which	in	turn	could	

could	have	material	adverse	financial	effects	or	cause	significant	reputational	harm	to	us,	which	in	turn	could	

seriously	harm	our	business	prospects.		It	is	possible	that	the	ultimate	resolution	of	these	matters,	if	unfavorable,	

seriously	harm	our	business	prospects.		It	is	possible	that	the	ultimate	resolution	of	these	matters,	if	unfavorable,	

may	be	material	to	the	results	of	operations	for	a	particular	reporting	period.

may	be	material	to	the	results	of	operations	for	a	particular	reporting	period.

For	more	information	on	litigation	risks,	see	Note	23	-	“Commitments	and	Contingent	Liabilities”	to	the	

For	more	information	on	litigation	risks,	see	Note	23	-	“Commitments	and	Contingent	Liabilities”	to	the	

Consolidated	Financial	Statements.

Consolidated	Financial	Statements.

us	material	financial	loss.		

us	material	financial	loss.		

Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	cause	

Noncompliance	with	the	Bank	Secrecy	Act	and	other	anti-money	laundering	statutes	and	regulations	could	cause	

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

The	Bank	Secrecy	Act	and	the	Patriot	Act	contain	anti-money	laundering	and	financial	transparency	provisions	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	

intended	to	detect	and	prevent	the	use	of	the	U.S.	financial	system	for	money	laundering	and	terrorist	financing	

activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	

activities.		The	Bank	Secrecy	Act,	as	amended	by	the	Patriot	Act,	requires	depository	institutions	and	their	holding	

companies	to	undertake	activities	including	maintaining	an	anti-money	laundering	program,	verifying	the	identity	of	

companies	to	undertake	activities	including	maintaining	an	anti-money	laundering	program,	verifying	the	identity	of	

clients,	monitoring	for	and	reporting	suspicious	transactions,	reporting	on	cash	transactions	exceeding	specified	

clients,	monitoring	for	and	reporting	suspicious	transactions,	reporting	on	cash	transactions	exceeding	specified	

thresholds,	and	responding	to	requests	for	information	by	regulatory	authorities	and	law	enforcement	agencies.		

thresholds,	and	responding	to	requests	for	information	by	regulatory	authorities	and	law	enforcement	agencies.		

FinCEN,	a	unit	of	the	Treasury	Department	that	administers	the	Bank	Secrecy	Act,	is	authorized	to	impose	significant	

FinCEN,	a	unit	of	the	Treasury	Department	that	administers	the	Bank	Secrecy	Act,	is	authorized	to	impose	significant	

civil	money	penalties	for	violations	of	those	requirements	and	has	recently	engaged	in	coordinated	enforcement	

civil	money	penalties	for	violations	of	those	requirements	and	has	recently	engaged	in	coordinated	enforcement	

efforts	with	the	federal	bank	regulatory	agencies,	as	well	as	the	United	States	Department	of	Justice,	Drug	

efforts	with	the	federal	bank	regulatory	agencies,	as	well	as	the	United	States	Department	of	Justice,	Drug	

Enforcement	Administration,	and	IRS.

Enforcement	Administration,	and	IRS.

There	is	also	increased	scrutiny	of	compliance	with	the	rules	enforced	by	the	OFAC.		If	our	policies,	procedures,	

There	is	also	increased	scrutiny	of	compliance	with	the	rules	enforced	by	the	OFAC.		If	our	policies,	procedures,	

and	systems	are	deemed	deficient	or	the	policies,	procedures,	and	systems	of	the	financial	institutions	that	we	have	

and	systems	are	deemed	deficient	or	the	policies,	procedures,	and	systems	of	the	financial	institutions	that	we	have	

already	acquired	or	may	acquire	in	the	future	are	deficient,	we	would	be	subject	to	liability,	including	fines	and	

already	acquired	or	may	acquire	in	the	future	are	deficient,	we	would	be	subject	to	liability,	including	fines	and	

regulatory	actions	such	as	restrictions	on	our	ability	to	pay	dividends	and	the	necessity	to	obtain	regulatory	

regulatory	actions	such	as	restrictions	on	our	ability	to	pay	dividends	and	the	necessity	to	obtain	regulatory	

approvals	to	proceed	with	certain	planned	business	activities,	including	acquisition	plans,	which	would	negatively	

approvals	to	proceed	with	certain	planned	business	activities,	including	acquisition	plans,	which	would	negatively	

impact	our	business,	financial	condition,	and	results	of	operations.		Failure	to	maintain	and	implement	adequate	

impact	our	business,	financial	condition,	and	results	of	operations.		Failure	to	maintain	and	implement	adequate	

programs	to	combat	money	laundering	and	terrorist	financing	could	also	have	serious	reputational	consequences	for	

programs	to	combat	money	laundering	and	terrorist	financing	could	also	have	serious	reputational	consequences	for	

For	more	information	regarding	the	Bank	Secrecy	Act,	Patriot	Act,	anti-money	laundering	requirements	and	

For	more	information	regarding	the	Bank	Secrecy	Act,	Patriot	Act,	anti-money	laundering	requirements	and	

OFAC-administered	sanctions,	refer	to	Item	1:	Business	-	“Regulatory	Matters”.

OFAC-administered	sanctions,	refer	to	Item	1:	Business	-	“Regulatory	Matters”.

us.

us.

Strategic	Risk:

Strategic	Risk:

We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	strategic	

We	operate	in	a	highly	competitive	industry	which	depends	on	our	ability	to	successfully	execute	our	strategic	

plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	preferences.	

plan	and	adapt	our	products	and	services	to	evolving	industry	standards	and	consumer	preferences.	

We	are	subject	to	intense	competition	from	both	other	financial	institutions	and	from	non-bank	entities,	

We	are	subject	to	intense	competition	from	both	other	financial	institutions	and	from	non-bank	entities,	

including	FinTech	companies.		Technology	has	lowered	the	barriers	to	entry,	with	customers	having	a	growing	

including	FinTech	companies.		Technology	has	lowered	the	barriers	to	entry,	with	customers	having	a	growing	

variety	of	traditional	and	nontraditional	alternatives,	including	crowdfunding,	digital	wallets	and	money	transfer	

variety	of	traditional	and	nontraditional	alternatives,	including	crowdfunding,	digital	wallets	and	money	transfer	

services.		The	continuous	widespread	adoption	of	new	technologies,	including	internet	services	and	mobile	

services.		The	continuous	widespread	adoption	of	new	technologies,	including	internet	services	and	mobile	

applications,	and	advanced	ATM	functionality,	is	influencing	how	individuals	and	firms	conduct	their	financial	affairs	

applications,	and	advanced	ATM	functionality,	is	influencing	how	individuals	and	firms	conduct	their	financial	affairs	

and	is	changing	the	delivery	channels	for	financial	services.		Our	“People-First,	Digitally-Powered”	strategic	plan	

and	is	changing	the	delivery	channels	for	financial	services.		Our	“People-First,	Digitally-Powered”	strategic	plan	

considers	the	implications	of	these	changes	in	technology.		Additionally,	these	changes	require	us	to	adapt	our	

considers	the	implications	of	these	changes	in	technology.		Additionally,	these	changes	require	us	to	adapt	our	

product	and	services,	as	well	as	our	distribution	of	them,	to	evolving	industry	standards	and	customer	preferences.	

product	and	services,	as	well	as	our	distribution	of	them,	to	evolving	industry	standards	and	customer	preferences.	

Failure	to	address	competitive	pressures	could	make	it	more	difficult	for	us	to	attract	and	retain	customers	across	

Failure	to	address	competitive	pressures	could	make	it	more	difficult	for	us	to	attract	and	retain	customers	across	

our	businesses.		

our	businesses.		

Our	success	depends,	in	part,	on	our	ability	to	successfully	implement	our	strategic	plan	as	well	as	adapt	existing	

Our	success	depends,	in	part,	on	our	ability	to	successfully	implement	our	strategic	plan	as	well	as	adapt	existing	

products	and	services	and	develop	competitive	new	products	and	services	demanded	by	our	customers.		The	

products	and	services	and	develop	competitive	new	products	and	services	demanded	by	our	customers.		The	

widespread	adoption	of	technologies	will	continue	to	require	substantial	investments	to	modify	or	adapt	existing	

widespread	adoption	of	technologies	will	continue	to	require	substantial	investments	to	modify	or	adapt	existing	

products	and	services	and	to	develop	new	product	or	services.		Additionally,	we	may	not	be	successful	in	executing	

products	and	services	and	to	develop	new	product	or	services.		Additionally,	we	may	not	be	successful	in	executing	

our	strategic	plan,	introducing	new	products	or	services,	achieving	market	acceptance	of	new	product	or	services,	
our	strategic	plan,	introducing	new	products	or	services,	achieving	market	acceptance	of	new	product	or	services,	
anticipating	or	reacting	to	customers	changing	preferences	or	attracting	and	retaining	loyal	customers.
anticipating	or	reacting	to	customers	changing	preferences	or	attracting	and	retaining	loyal	customers.

We	depend	on	our	executive	officers	and	key	personnel	to	continue	the	implementation	of	our	long-term	
We	depend	on	our	executive	officers	and	key	personnel	to	continue	the	implementation	of	our	long-term	
business	strategy	and	could	be	harmed	by	the	loss	of	their	services.
business	strategy	and	could	be	harmed	by	the	loss	of	their	services.

We	believe	that	our	continued	growth	and	future	success	will	depend	in	large	part	on	the	skills	of	our	
We	believe	that	our	continued	growth	and	future	success	will	depend	in	large	part	on	the	skills	of	our	
management	team	and	our	ability	to	motivate	and	retain	these	individuals	and	other	key	personnel.		The	loss	of	
management	team	and	our	ability	to	motivate	and	retain	these	individuals	and	other	key	personnel.		The	loss	of	
service	of	one	or	more	of	our	executive	officers	or	key	personnel	could	reduce	our	ability	to	successfully	implement	
service	of	one	or	more	of	our	executive	officers	or	key	personnel	could	reduce	our	ability	to	successfully	implement	
our	long-term	business	strategy,	our	business	could	suffer,	and	the	value	of	our	stock	could	be	materially	adversely	
our	long-term	business	strategy,	our	business	could	suffer,	and	the	value	of	our	stock	could	be	materially	adversely	
affected.		Leadership	changes	will	occur	from	time	to	time,	and	we	cannot	predict	whether	significant	resignations	
affected.		Leadership	changes	will	occur	from	time	to	time,	and	we	cannot	predict	whether	significant	resignations	
will	occur	or	whether	we	will	be	able	to	recruit	additional	qualified	personnel.		We	believe	our	management	team	
will	occur	or	whether	we	will	be	able	to	recruit	additional	qualified	personnel.		We	believe	our	management	team	
possesses	valuable	knowledge	about	the	banking	industry	and	that	their	knowledge	and	relationships	would	be	very	
possesses	valuable	knowledge	about	the	banking	industry	and	that	their	knowledge	and	relationships	would	be	very	
difficult	to	replicate.		Our	success	also	depends	on	the	experience	of	our	branch	managers	and	lending	officers	and	
difficult	to	replicate.		Our	success	also	depends	on	the	experience	of	our	branch	managers	and	lending	officers	and	
on	their	relationships	with	the	customers	and	communities	they	serve.		The	loss	of	these	key	personnel	could	
on	their	relationships	with	the	customers	and	communities	they	serve.		The	loss	of	these	key	personnel	could	
negatively	impact	our	banking	operations.		The	loss	of	key	personnel,	or	the	inability	to	recruit	and	retain	qualified	
negatively	impact	our	banking	operations.		The	loss	of	key	personnel,	or	the	inability	to	recruit	and	retain	qualified	
personnel	in	the	future,	could	have	an	adverse	effect	on	our	business,	financial	condition,	or	operating	results.
personnel	in	the	future,	could	have	an	adverse	effect	on	our	business,	financial	condition,	or	operating	results.

Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	
Bank	regulations	regarding	capital	and	liquidity,	including	the	CCAR	assessment	process	and	the	U.S.	Basel	III	
capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	
capital	and	liquidity	standards,	could	require	higher	levels	of	capital	and	liquidity.		Among	other	things,	these	
regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-
regulations	could	impact	our	ability	to	pay	common	stock	dividends,	repurchase	common	stock,	attract	cost-
effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.
effective	sources	of	deposits,	or	require	the	retention	of	higher	amounts	of	low	yielding	securities.

The	Federal	Reserve	administers	CCAR,	a	periodic	forward-looking	quantitative	assessment	of	Huntington’s	
The	Federal	Reserve	administers	CCAR,	a	periodic	forward-looking	quantitative	assessment	of	Huntington’s	
capital	adequacy	and	planned	capital	distributions	and	a	review	of	the	strength	of	Huntington’s	practices	to	assess	
capital	adequacy	and	planned	capital	distributions	and	a	review	of	the	strength	of	Huntington’s	practices	to	assess	
capital	needs.		The	Federal	Reserve	makes	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	tests	
capital	needs.		The	Federal	Reserve	makes	a	quantitative	assessment	of	capital	based	on	supervisory-run	stress	tests	
that	assess	the	ability	to	maintain	capital	levels	above	each	minimum	regulatory	capital	ratio	after	making	all	capital	
that	assess	the	ability	to	maintain	capital	levels	above	each	minimum	regulatory	capital	ratio	after	making	all	capital	
actions	included	in	Huntington’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	a	nine-quarter	
actions	included	in	Huntington’s	capital	plan,	under	baseline	and	stressful	conditions	throughout	a	nine-quarter	
planning	horizon.		The	CCAR	process	is	also	used	to	determine	Huntington’s	stress	capital	buffer	requirement.		There	
planning	horizon.		The	CCAR	process	is	also	used	to	determine	Huntington’s	stress	capital	buffer	requirement.		There	
can	be	no	assurance	that	the	Federal	Reserve	or	OCC	will	respond	favorably	to	our	capital	plans,	planned	capital	
can	be	no	assurance	that	the	Federal	Reserve	or	OCC	will	respond	favorably	to	our	capital	plans,	planned	capital	
actions	or	stress	test	results,	and	the	Federal	Reserve,	OCC,	or	other	regulatory	capital	requirements	may	limit	or	
actions	or	stress	test	results,	and	the	Federal	Reserve,	OCC,	or	other	regulatory	capital	requirements	may	limit	or	
otherwise	restrict	how	we	utilize	our	capital,	including	common	stock	dividends	and	stock	repurchases.		
otherwise	restrict	how	we	utilize	our	capital,	including	common	stock	dividends	and	stock	repurchases.		

We	are	also	required	to	maintain	minimum	capital	ratios	and	the	Federal	Reserve	and	OCC	may	determine	that	
We	are	also	required	to	maintain	minimum	capital	ratios	and	the	Federal	Reserve	and	OCC	may	determine	that	

Huntington	and/or	the	Bank,	based	on	size,	complexity,	or	risk	profile,	must	maintain	capital	ratios	above	these	
Huntington	and/or	the	Bank,	based	on	size,	complexity,	or	risk	profile,	must	maintain	capital	ratios	above	these	
minimums	in	order	to	operate	in	a	safe	and	sound	manner.		In	the	event	we	are	required	to	raise	capital	to	maintain	
minimums	in	order	to	operate	in	a	safe	and	sound	manner.		In	the	event	we	are	required	to	raise	capital	to	maintain	
required	minimum	capital	and	leverage	ratios	or	ratios	above	the	required	applicable	minimums,	we	may	be	forced	
required	minimum	capital	and	leverage	ratios	or	ratios	above	the	required	applicable	minimums,	we	may	be	forced	
to	do	so	when	market	conditions	are	undesirable	or	on	terms	that	are	less	favorable	to	us	than	we	would	otherwise	
to	do	so	when	market	conditions	are	undesirable	or	on	terms	that	are	less	favorable	to	us	than	we	would	otherwise	
require.		Furthermore,	in	order	to	prevent	becoming	subject	to	restrictions	on	our	ability	to	distribute	capital	or	
require.		Furthermore,	in	order	to	prevent	becoming	subject	to	restrictions	on	our	ability	to	distribute	capital	or	
make	certain	discretionary	bonus	payments	to	management,	the	Bank	must	maintain	a	Capital	Conservation	Buffer	
make	certain	discretionary	bonus	payments	to	management,	the	Bank	must	maintain	a	Capital	Conservation	Buffer	
of	2.5%,	and	Huntington	must	maintain	the	applicable	stress	capital	buffer	determined	as	part	of	the	CCAR	process,	
of	2.5%,	and	Huntington	must	maintain	the	applicable	stress	capital	buffer	determined	as	part	of	the	CCAR	process,	
which	are	in	addition	to	our	required	minimum	capital	ratios.
which	are	in	addition	to	our	required	minimum	capital	ratios.

For	more	information	regarding	CCAR,	stress	testing,	and	capital	and	liquidity	requirements,	refer	to	Item	1:	
For	more	information	regarding	CCAR,	stress	testing,	and	capital	and	liquidity	requirements,	refer	to	Item	1:	

Business	-	“Regulatory	Matters”.
Business	-	“Regulatory	Matters”.

If	our	regulators	deem	it	appropriate,	they	can	take	regulatory	actions	that	could	result	in	a	material	adverse	
If	our	regulators	deem	it	appropriate,	they	can	take	regulatory	actions	that	could	result	in	a	material	adverse	
impact	on	our	financial	results,	ability	to	compete	for	new	business,	or	preclude	mergers	or	acquisitions.		In	
impact	on	our	financial	results,	ability	to	compete	for	new	business,	or	preclude	mergers	or	acquisitions.		In	
addition,	regulatory	actions	could	constrain	our	ability	to	fund	our	liquidity	needs	or	pay	dividends.		Any	of	these	
addition,	regulatory	actions	could	constrain	our	ability	to	fund	our	liquidity	needs	or	pay	dividends.		Any	of	these	
actions	could	increase	the	cost	of	our	services.		
actions	could	increase	the	cost	of	our	services.		

We	are	subject	to	the	supervision	and	regulation	of	various	state	and	federal	regulators,	including	the	OCC,	
We	are	subject	to	the	supervision	and	regulation	of	various	state	and	federal	regulators,	including	the	OCC,	
Federal	Reserve,	FDIC,	SEC,	CFPB,	FINRA,	and	various	state	regulatory	agencies.		As	such,	we	are	subject	to	a	wide	
Federal	Reserve,	FDIC,	SEC,	CFPB,	FINRA,	and	various	state	regulatory	agencies.		As	such,	we	are	subject	to	a	wide	
variety	of	laws	and	regulations,	many	of	which	are	discussed	in	Item	1:	Business	-	“Regulatory	Matters”.		As	part	of	
variety	of	laws	and	regulations,	many	of	which	are	discussed	in	Item	1:	Business	-	“Regulatory	Matters”.		As	part	of	
their	supervisory	process,	which	includes	periodic	examinations	and	continuous	monitoring,	the	regulators	have	the	
their	supervisory	process,	which	includes	periodic	examinations	and	continuous	monitoring,	the	regulators	have	the	
authority	to	impose	restrictions	or	conditions	on	our	activities	and	the	manner	in	which	we	manage	the	
authority	to	impose	restrictions	or	conditions	on	our	activities	and	the	manner	in	which	we	manage	the	
organization.		Such	actions	could	negatively	impact	us	in	a	variety	of	ways,	including	charging	monetary	fines,	
organization.		Such	actions	could	negatively	impact	us	in	a	variety	of	ways,	including	charging	monetary	fines,	

38					Huntington	Bancshares	Incorporated

38					Huntington	Bancshares	Incorporated

2020	Form	10-K					39
2020	Form	10-K					39

impacting	our	ability	to	pay	dividends,	precluding	mergers	or	acquisitions,	limiting	our	ability	to	offer	certain	
impacting	our	ability	to	pay	dividends,	precluding	mergers	or	acquisitions,	limiting	our	ability	to	offer	certain	
products	or	services,	or	imposing	additional	capital	requirements.
products	or	services,	or	imposing	additional	capital	requirements.

present.	

present.	

earnings	following	the	completion	of	the	Merger,	and	the	amount	and	timing	of	such	charges	are	uncertain	at	

earnings	following	the	completion	of	the	Merger,	and	the	amount	and	timing	of	such	charges	are	uncertain	at	

Under	the	supervision	of	the	CFPB,	our	Consumer	and	Business	Banking	products	and	services	are	subject	to	
Under	the	supervision	of	the	CFPB,	our	Consumer	and	Business	Banking	products	and	services	are	subject	to	
heightened	regulatory	oversight	and	scrutiny	with	respect	to	compliance	under	consumer	laws	and	regulations.		We	
heightened	regulatory	oversight	and	scrutiny	with	respect	to	compliance	under	consumer	laws	and	regulations.		We	
may	face	a	greater	number	or	wider	scope	of	investigations,	enforcement	actions,	and	litigation	in	the	future	related	
may	face	a	greater	number	or	wider	scope	of	investigations,	enforcement	actions,	and	litigation	in	the	future	related	
to	consumer	practices,	thereby	increasing	costs	associated	with	responding	to	or	defending	such	actions.		Also,	
to	consumer	practices,	thereby	increasing	costs	associated	with	responding	to	or	defending	such	actions.		Also,	
federal	and	state	regulators	have	been	increasingly	focused	on	sales	practices	of	branch	personnel,	including	taking	
federal	and	state	regulators	have	been	increasingly	focused	on	sales	practices	of	branch	personnel,	including	taking	
regulatory	action	against	other	financial	institutions.		In	addition,	increased	regulatory	inquiries	and	investigations,	
regulatory	action	against	other	financial	institutions.		In	addition,	increased	regulatory	inquiries	and	investigations,	
as	well	as	any	additional	legislative	or	regulatory	developments	affecting	our	consumer	businesses,	and	any	required	
as	well	as	any	additional	legislative	or	regulatory	developments	affecting	our	consumer	businesses,	and	any	required	
changes	to	our	business	operations	resulting	from	these	developments,	could	result	in	significant	loss	of	revenue,	
changes	to	our	business	operations	resulting	from	these	developments,	could	result	in	significant	loss	of	revenue,	
require	remuneration	to	our	customers,	trigger	fines	or	penalties,	limit	the	products	or	services	we	offer,	require	us	
require	remuneration	to	our	customers,	trigger	fines	or	penalties,	limit	the	products	or	services	we	offer,	require	us	
to	increase	our	prices	and,	therefore,	reduce	demand	for	our	products,	impose	additional	compliance	costs	on	us,	
to	increase	our	prices	and,	therefore,	reduce	demand	for	our	products,	impose	additional	compliance	costs	on	us,	
increase	the	cost	of	collection,	cause	harm	to	our	reputation,	or	otherwise	adversely	affect	our	consumer	
increase	the	cost	of	collection,	cause	harm	to	our	reputation,	or	otherwise	adversely	affect	our	consumer	
businesses.
businesses.

In	addition,	we	are	allowed	to	conduct	certain	activities	that	are	financial	in	nature	by	virtue	of	Huntington’s	
In	addition,	we	are	allowed	to	conduct	certain	activities	that	are	financial	in	nature	by	virtue	of	Huntington’s	
status	as	an	FHC,	as	discussed	in	more	detail	in	Item	1.	Regulatory	Matters.		If	Huntington	or	the	Bank	cease	to	meet	
status	as	an	FHC,	as	discussed	in	more	detail	in	Item	1.	Regulatory	Matters.		If	Huntington	or	the	Bank	cease	to	meet	
the	requirements	necessary	for	Huntington	to	continue	to	qualify	as	an	FHC,	the	Federal	Reserve	may	impose	upon	
the	requirements	necessary	for	Huntington	to	continue	to	qualify	as	an	FHC,	the	Federal	Reserve	may	impose	upon	
us	corrective	capital	and	managerial	requirements,	and	may	place	limitations	on	our	ability	to	conduct	all	of	the	
us	corrective	capital	and	managerial	requirements,	and	may	place	limitations	on	our	ability	to	conduct	all	of	the	
business	activities	that	we	conduct	as	a	FHC.		If	the	failure	to	meet	these	standards	persists,	we	could	be	required	to	
business	activities	that	we	conduct	as	a	FHC.		If	the	failure	to	meet	these	standards	persists,	we	could	be	required	to	
divest	our	Bank,	or	cease	all	activities	other	than	those	activities	that	may	be	conducted	by	a	BHC	but	not	an	FHC.
divest	our	Bank,	or	cease	all	activities	other	than	those	activities	that	may	be	conducted	by	a	BHC	but	not	an	FHC.

Reputation	Risk:
Reputation	Risk:

Damage	to	our	reputation	could	significantly	harm	our	business,	including	our	competitive	position	and	business	
Damage	to	our	reputation	could	significantly	harm	our	business,	including	our	competitive	position	and	business	
prospects.
prospects.

Our	ability	to	attract	and	retain	customers,	clients,	investors,	and	employees	is	affected	by	our	reputation.		
Our	ability	to	attract	and	retain	customers,	clients,	investors,	and	employees	is	affected	by	our	reputation.		

Significant	harm	to	our	reputation	can	arise	from	various	sources,	including	officer,	director	or	employee	
Significant	harm	to	our	reputation	can	arise	from	various	sources,	including	officer,	director	or	employee	
misconduct,	actual	or	perceived	unethical	behavior,	conflicts	of	interest,	security	breaches,	litigation	or	regulatory	
misconduct,	actual	or	perceived	unethical	behavior,	conflicts	of	interest,	security	breaches,	litigation	or	regulatory	
outcomes,	compensation	practices,	failing	to	deliver	minimum	or	required	standards	of	service	and	quality,	failing	to	
outcomes,	compensation	practices,	failing	to	deliver	minimum	or	required	standards	of	service	and	quality,	failing	to	
address	customer	and	agency	complaints,	compliance	failures,	unauthorized	release	of	personal,	proprietary	or	
address	customer	and	agency	complaints,	compliance	failures,	unauthorized	release	of	personal,	proprietary	or	
confidential	information	due	to	cyber-attacks	or	otherwise,	perception	of	our	environmental,	social	and	governance	
confidential	information	due	to	cyber-attacks	or	otherwise,	perception	of	our	environmental,	social	and	governance	
practices	and	disclosures,	and	the	activities	of	our	clients,	customers,	and	counterparties,	including	vendors.		Actions	
practices	and	disclosures,	and	the	activities	of	our	clients,	customers,	and	counterparties,	including	vendors.		Actions	
by	the	financial	service	industry	generally	or	by	institutions	or	individuals	in	the	industry	can	adversely	affect	our	
by	the	financial	service	industry	generally	or	by	institutions	or	individuals	in	the	industry	can	adversely	affect	our	
reputation	indirectly	by	association.		In	addition,	adverse	publicity	or	negative	information	posted	on	social	media,	
reputation	indirectly	by	association.		In	addition,	adverse	publicity	or	negative	information	posted	on	social	media,	
whether	or	not	factually	correct,	may	affect	our	business	prospects.		All	of	these	could	adversely	affect	our	growth,	
whether	or	not	factually	correct,	may	affect	our	business	prospects.		All	of	these	could	adversely	affect	our	growth,	
results	of	operation,	and	financial	condition.
results	of	operation,	and	financial	condition.

Risks	related	to	the	TCF	Merger:
Risks	related	to	the	TCF	Merger:

We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	
We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

We	have	incurred	and	expect	to	incur	a	number	of	non-recurring	costs	associated	with	the	Merger.	These	costs	
We	have	incurred	and	expect	to	incur	a	number	of	non-recurring	costs	associated	with	the	Merger.	These	costs	

include	legal,	financial	advisory,	accounting,	consulting	and	other	advisory	fees,	severance/employee	benefit-related	
include	legal,	financial	advisory,	accounting,	consulting	and	other	advisory	fees,	severance/employee	benefit-related	
costs,	public	company	filing	fees	and	other	regulatory	fees	and	financial	printing	and	other	related	costs.	Some	of	
costs,	public	company	filing	fees	and	other	regulatory	fees	and	financial	printing	and	other	related	costs.	Some	of	
these	costs	are	payable	by	us	regardless	of	whether	or	not	the	Merger	is	completed.	
these	costs	are	payable	by	us	regardless	of	whether	or	not	the	Merger	is	completed.	

The	combined	company	is	expected	to	incur	substantial	costs	in	connection	with	the	related	integration.	There	
The	combined	company	is	expected	to	incur	substantial	costs	in	connection	with	the	related	integration.	There	

are	a	large	number	of	processes,	policies,	procedures,	operations,	technologies	and	systems	that	may	need	to	be	
are	a	large	number	of	processes,	policies,	procedures,	operations,	technologies	and	systems	that	may	need	to	be	
integrated,	including	purchasing,	accounting	and	finance,	payroll,	compliance,	treasury	management,	branch	
integrated,	including	purchasing,	accounting	and	finance,	payroll,	compliance,	treasury	management,	branch	
operations,	vendor	management,	risk	management,	lines	of	business,	pricing	and	benefits.	While	we	have	assumed	
operations,	vendor	management,	risk	management,	lines	of	business,	pricing	and	benefits.	While	we	have	assumed	
that	a	certain	level	of	costs	will	be	incurred,	there	are	many	factors	beyond	our	control	that	could	affect	the	total	
that	a	certain	level	of	costs	will	be	incurred,	there	are	many	factors	beyond	our	control	that	could	affect	the	total	
amount	or	the	timing	of	the	integration	costs.	Moreover,	many	of	the	costs	that	will	be	incurred	are,	by	their	nature,	
amount	or	the	timing	of	the	integration	costs.	Moreover,	many	of	the	costs	that	will	be	incurred	are,	by	their	nature,	
difficult	to	estimate	accurately.	These	integration	costs	may	result	in	the	combined	company	taking	charges	against	
difficult	to	estimate	accurately.	These	integration	costs	may	result	in	the	combined	company	taking	charges	against	

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	Huntington	

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	Huntington	

and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.	

and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.	

The	success	of	the	Merger	will	depend,	in	part,	on	the	ability	to	realize	the	anticipated	cost	savings	from	

The	success	of	the	Merger	will	depend,	in	part,	on	the	ability	to	realize	the	anticipated	cost	savings	from	

combining	the	businesses	of	Huntington	and	TCF.	To	realize	the	anticipated	benefits	and	cost	savings	from	the	

combining	the	businesses	of	Huntington	and	TCF.	To	realize	the	anticipated	benefits	and	cost	savings	from	the	

Merger,	Huntington	and	TCF	must	successfully	integrate	and	combine	their	businesses	in	a	manner	that	permits	

Merger,	Huntington	and	TCF	must	successfully	integrate	and	combine	their	businesses	in	a	manner	that	permits	

those	cost	savings	to	be	realized.	If	Huntington	and	TCF	are	not	able	to	successfully	achieve	these	objectives,	the	

those	cost	savings	to	be	realized.	If	Huntington	and	TCF	are	not	able	to	successfully	achieve	these	objectives,	the	

anticipated	benefits	of	the	Merger	may	not	be	realized	fully	or	at	all	or	may	take	longer	to	realize	than	expected.	In	

anticipated	benefits	of	the	Merger	may	not	be	realized	fully	or	at	all	or	may	take	longer	to	realize	than	expected.	In	

addition,	the	actual	cost	savings	and	anticipated	benefits	of	the	Merger	could	be	less	than	anticipated,	and	

addition,	the	actual	cost	savings	and	anticipated	benefits	of	the	Merger	could	be	less	than	anticipated,	and	

integration	may	result	in	additional	unforeseen	expenses.	

integration	may	result	in	additional	unforeseen	expenses.	

Huntington	and	TCF	have	operated	and,	until	the	completion	of	the	Merger,	must	continue	to	operate,	

Huntington	and	TCF	have	operated	and,	until	the	completion	of	the	Merger,	must	continue	to	operate,	

independently.	It	is	possible	that	the	integration	process	could	result	in	the	loss	of	key	employees,	the	disruption	of	

independently.	It	is	possible	that	the	integration	process	could	result	in	the	loss	of	key	employees,	the	disruption	of	

each	company’s	ongoing	businesses	or	inconsistencies	in	standards,	controls,	procedures	and	policies	that	adversely	

each	company’s	ongoing	businesses	or	inconsistencies	in	standards,	controls,	procedures	and	policies	that	adversely	

affect	the	companies’	ability	to	maintain	relationships	with	clients,	customers,	depositors	and	employees	or	to	

affect	the	companies’	ability	to	maintain	relationships	with	clients,	customers,	depositors	and	employees	or	to	

achieve	the	anticipated	benefits	and	cost	savings	of	the	Merger.	Integration	efforts	between	the	two	companies	may	

achieve	the	anticipated	benefits	and	cost	savings	of	the	Merger.	Integration	efforts	between	the	two	companies	may	

also	divert	management	attention	and	resources.	In	addition,	the	impacts	of	the	COVID-19	pandemic	may	make	it	

also	divert	management	attention	and	resources.	In	addition,	the	impacts	of	the	COVID-19	pandemic	may	make	it	

more	costly	or	more	difficult	to	integrate	the	businesses	of	Huntington	and	TCF,	which,	in	turn,	may	make	it	more	

more	costly	or	more	difficult	to	integrate	the	businesses	of	Huntington	and	TCF,	which,	in	turn,	may	make	it	more	

difficult	for	the	combined	company	to	realize	anticipated	synergies	or	cost	savings	in	the	amounts	estimated	or	in	

difficult	for	the	combined	company	to	realize	anticipated	synergies	or	cost	savings	in	the	amounts	estimated	or	in	

the	timeframe	contemplated	or	at	all.	These	integration	matters	could	have	an	adverse	effect	on	each	of	Huntington	

the	timeframe	contemplated	or	at	all.	These	integration	matters	could	have	an	adverse	effect	on	each	of	Huntington	

and	TCF	during	this	transition	period	and	for	an	undetermined	period	after	completion	of	the	Merger	on	the	

and	TCF	during	this	transition	period	and	for	an	undetermined	period	after	completion	of	the	Merger	on	the	

combined	company.	

combined	company.	

The	future	results	of	the	combined	company	following	the	Merger	may	suffer	if	the	combined	company	does	not	

The	future	results	of	the	combined	company	following	the	Merger	may	suffer	if	the	combined	company	does	not	

effectively	manage	its	expanded	operations.	

effectively	manage	its	expanded	operations.	

Following	the	Merger,	the	size	of	the	business	of	the	combined	company	will	increase	significantly	beyond	the	

Following	the	Merger,	the	size	of	the	business	of	the	combined	company	will	increase	significantly	beyond	the	

current	size	of	either	Huntington’s	or	TCF’s	business.	The	combined	company’s	future	success	will	depend,	in	part,	

current	size	of	either	Huntington’s	or	TCF’s	business.	The	combined	company’s	future	success	will	depend,	in	part,	

upon	its	ability	to	manage	this	expanded	business,	which	may	pose	challenges	for	management,	including	challenges	

upon	its	ability	to	manage	this	expanded	business,	which	may	pose	challenges	for	management,	including	challenges	

related	to	the	management	and	monitoring	of	new	operations	and	associated	increased	costs	and	complexity.	The	

related	to	the	management	and	monitoring	of	new	operations	and	associated	increased	costs	and	complexity.	The	

combined	company	may	also	face	increased	scrutiny	from	governmental	authorities	as	a	result	of	the	significant	

combined	company	may	also	face	increased	scrutiny	from	governmental	authorities	as	a	result	of	the	significant	

increase	in	the	size	of	its	business.	There	can	be	no	assurances	that	the	combined	company	will	be	successful	or	that	

increase	in	the	size	of	its	business.	There	can	be	no	assurances	that	the	combined	company	will	be	successful	or	that	

it	will	realize	the	expected	operating	efficiencies,	cost	savings,	revenue	enhancements	or	other	benefits	currently	

it	will	realize	the	expected	operating	efficiencies,	cost	savings,	revenue	enhancements	or	other	benefits	currently	

anticipated	from	the	Merger.	

anticipated	from	the	Merger.	

The	combined	company	may	be	unable	to	retain	Huntington	or	TCF	personnel	successfully	while	the	Merger	is	

The	combined	company	may	be	unable	to	retain	Huntington	or	TCF	personnel	successfully	while	the	Merger	is	

pending	or	after	the	Merger	is	completed.	

pending	or	after	the	Merger	is	completed.	

The	success	of	the	Merger	will	depend	in	part	on	the	combined	company’s	ability	to	retain	key	employees	

The	success	of	the	Merger	will	depend	in	part	on	the	combined	company’s	ability	to	retain	key	employees	

currently	employed	by	Huntington	and	TCF.	It	is	possible	that	these	employees	may	decide	not	to	remain	with	

currently	employed	by	Huntington	and	TCF.	It	is	possible	that	these	employees	may	decide	not	to	remain	with	

Huntington	or	TCF,	as	applicable,	while	the	Merger	is	pending	or	with	the	combined	company	after	the	Merger	is	

Huntington	or	TCF,	as	applicable,	while	the	Merger	is	pending	or	with	the	combined	company	after	the	Merger	is	

consummated.	If	Huntington	and	TCF	are	unable	to	retain	key	employees,	including	management,	who	are	critical	to	

consummated.	If	Huntington	and	TCF	are	unable	to	retain	key	employees,	including	management,	who	are	critical	to	

the	successful	integration	and	future	operations	of	the	companies,	Huntington	and	TCF	could	face	disruptions	in	

the	successful	integration	and	future	operations	of	the	companies,	Huntington	and	TCF	could	face	disruptions	in	

their	operations,	loss	of	existing	customers,	loss	of	key	information,	expertise	or	know-how	and	unanticipated	

their	operations,	loss	of	existing	customers,	loss	of	key	information,	expertise	or	know-how	and	unanticipated	

additional	recruitment	costs.	In	addition,	if	key	employees	terminate	their	employment,	the	combined	company’s	

additional	recruitment	costs.	In	addition,	if	key	employees	terminate	their	employment,	the	combined	company’s	

business	activities	may	be	adversely	affected	and	management’s	attention	may	be	diverted	from	successfully	

business	activities	may	be	adversely	affected	and	management’s	attention	may	be	diverted	from	successfully	

integrating	Huntington	and	TCF	to	hiring	suitable	replacements,	all	of	which	may	cause	the	combined	company’s	

integrating	Huntington	and	TCF	to	hiring	suitable	replacements,	all	of	which	may	cause	the	combined	company’s	

business	to	suffer.	In	addition,	Huntington	and	TCF	may	not	be	able	to	locate	or	retain	suitable	replacements	for	any	

business	to	suffer.	In	addition,	Huntington	and	TCF	may	not	be	able	to	locate	or	retain	suitable	replacements	for	any	

key	employees	who	leave	either	company.	

key	employees	who	leave	either	company.	

40					Huntington	Bancshares	Incorporated
40					Huntington	Bancshares	Incorporated

2020	Form	10-K					41

2020	Form	10-K					41

impacting	our	ability	to	pay	dividends,	precluding	mergers	or	acquisitions,	limiting	our	ability	to	offer	certain	

impacting	our	ability	to	pay	dividends,	precluding	mergers	or	acquisitions,	limiting	our	ability	to	offer	certain	

products	or	services,	or	imposing	additional	capital	requirements.

products	or	services,	or	imposing	additional	capital	requirements.

earnings	following	the	completion	of	the	Merger,	and	the	amount	and	timing	of	such	charges	are	uncertain	at	
earnings	following	the	completion	of	the	Merger,	and	the	amount	and	timing	of	such	charges	are	uncertain	at	
present.	
present.	

Under	the	supervision	of	the	CFPB,	our	Consumer	and	Business	Banking	products	and	services	are	subject	to	

Under	the	supervision	of	the	CFPB,	our	Consumer	and	Business	Banking	products	and	services	are	subject	to	

heightened	regulatory	oversight	and	scrutiny	with	respect	to	compliance	under	consumer	laws	and	regulations.		We	

heightened	regulatory	oversight	and	scrutiny	with	respect	to	compliance	under	consumer	laws	and	regulations.		We	

may	face	a	greater	number	or	wider	scope	of	investigations,	enforcement	actions,	and	litigation	in	the	future	related	

may	face	a	greater	number	or	wider	scope	of	investigations,	enforcement	actions,	and	litigation	in	the	future	related	

to	consumer	practices,	thereby	increasing	costs	associated	with	responding	to	or	defending	such	actions.		Also,	

to	consumer	practices,	thereby	increasing	costs	associated	with	responding	to	or	defending	such	actions.		Also,	

federal	and	state	regulators	have	been	increasingly	focused	on	sales	practices	of	branch	personnel,	including	taking	

federal	and	state	regulators	have	been	increasingly	focused	on	sales	practices	of	branch	personnel,	including	taking	

regulatory	action	against	other	financial	institutions.		In	addition,	increased	regulatory	inquiries	and	investigations,	

regulatory	action	against	other	financial	institutions.		In	addition,	increased	regulatory	inquiries	and	investigations,	

as	well	as	any	additional	legislative	or	regulatory	developments	affecting	our	consumer	businesses,	and	any	required	

as	well	as	any	additional	legislative	or	regulatory	developments	affecting	our	consumer	businesses,	and	any	required	

changes	to	our	business	operations	resulting	from	these	developments,	could	result	in	significant	loss	of	revenue,	

changes	to	our	business	operations	resulting	from	these	developments,	could	result	in	significant	loss	of	revenue,	

require	remuneration	to	our	customers,	trigger	fines	or	penalties,	limit	the	products	or	services	we	offer,	require	us	

require	remuneration	to	our	customers,	trigger	fines	or	penalties,	limit	the	products	or	services	we	offer,	require	us	

to	increase	our	prices	and,	therefore,	reduce	demand	for	our	products,	impose	additional	compliance	costs	on	us,	

to	increase	our	prices	and,	therefore,	reduce	demand	for	our	products,	impose	additional	compliance	costs	on	us,	

increase	the	cost	of	collection,	cause	harm	to	our	reputation,	or	otherwise	adversely	affect	our	consumer	

increase	the	cost	of	collection,	cause	harm	to	our	reputation,	or	otherwise	adversely	affect	our	consumer	

businesses.

businesses.

In	addition,	we	are	allowed	to	conduct	certain	activities	that	are	financial	in	nature	by	virtue	of	Huntington’s	

In	addition,	we	are	allowed	to	conduct	certain	activities	that	are	financial	in	nature	by	virtue	of	Huntington’s	

status	as	an	FHC,	as	discussed	in	more	detail	in	Item	1.	Regulatory	Matters.		If	Huntington	or	the	Bank	cease	to	meet	

status	as	an	FHC,	as	discussed	in	more	detail	in	Item	1.	Regulatory	Matters.		If	Huntington	or	the	Bank	cease	to	meet	

the	requirements	necessary	for	Huntington	to	continue	to	qualify	as	an	FHC,	the	Federal	Reserve	may	impose	upon	

the	requirements	necessary	for	Huntington	to	continue	to	qualify	as	an	FHC,	the	Federal	Reserve	may	impose	upon	

us	corrective	capital	and	managerial	requirements,	and	may	place	limitations	on	our	ability	to	conduct	all	of	the	

us	corrective	capital	and	managerial	requirements,	and	may	place	limitations	on	our	ability	to	conduct	all	of	the	

business	activities	that	we	conduct	as	a	FHC.		If	the	failure	to	meet	these	standards	persists,	we	could	be	required	to	

business	activities	that	we	conduct	as	a	FHC.		If	the	failure	to	meet	these	standards	persists,	we	could	be	required	to	

divest	our	Bank,	or	cease	all	activities	other	than	those	activities	that	may	be	conducted	by	a	BHC	but	not	an	FHC.

divest	our	Bank,	or	cease	all	activities	other	than	those	activities	that	may	be	conducted	by	a	BHC	but	not	an	FHC.

Reputation	Risk:

Reputation	Risk:

prospects.

prospects.

Damage	to	our	reputation	could	significantly	harm	our	business,	including	our	competitive	position	and	business	

Damage	to	our	reputation	could	significantly	harm	our	business,	including	our	competitive	position	and	business	

Our	ability	to	attract	and	retain	customers,	clients,	investors,	and	employees	is	affected	by	our	reputation.		

Our	ability	to	attract	and	retain	customers,	clients,	investors,	and	employees	is	affected	by	our	reputation.		

Significant	harm	to	our	reputation	can	arise	from	various	sources,	including	officer,	director	or	employee	

Significant	harm	to	our	reputation	can	arise	from	various	sources,	including	officer,	director	or	employee	

misconduct,	actual	or	perceived	unethical	behavior,	conflicts	of	interest,	security	breaches,	litigation	or	regulatory	

misconduct,	actual	or	perceived	unethical	behavior,	conflicts	of	interest,	security	breaches,	litigation	or	regulatory	

outcomes,	compensation	practices,	failing	to	deliver	minimum	or	required	standards	of	service	and	quality,	failing	to	

outcomes,	compensation	practices,	failing	to	deliver	minimum	or	required	standards	of	service	and	quality,	failing	to	

address	customer	and	agency	complaints,	compliance	failures,	unauthorized	release	of	personal,	proprietary	or	

address	customer	and	agency	complaints,	compliance	failures,	unauthorized	release	of	personal,	proprietary	or	

confidential	information	due	to	cyber-attacks	or	otherwise,	perception	of	our	environmental,	social	and	governance	

confidential	information	due	to	cyber-attacks	or	otherwise,	perception	of	our	environmental,	social	and	governance	

practices	and	disclosures,	and	the	activities	of	our	clients,	customers,	and	counterparties,	including	vendors.		Actions	

practices	and	disclosures,	and	the	activities	of	our	clients,	customers,	and	counterparties,	including	vendors.		Actions	

by	the	financial	service	industry	generally	or	by	institutions	or	individuals	in	the	industry	can	adversely	affect	our	

by	the	financial	service	industry	generally	or	by	institutions	or	individuals	in	the	industry	can	adversely	affect	our	

reputation	indirectly	by	association.		In	addition,	adverse	publicity	or	negative	information	posted	on	social	media,	

reputation	indirectly	by	association.		In	addition,	adverse	publicity	or	negative	information	posted	on	social	media,	

whether	or	not	factually	correct,	may	affect	our	business	prospects.		All	of	these	could	adversely	affect	our	growth,	

whether	or	not	factually	correct,	may	affect	our	business	prospects.		All	of	these	could	adversely	affect	our	growth,	

results	of	operation,	and	financial	condition.

results	of	operation,	and	financial	condition.

Risks	related	to	the	TCF	Merger:

Risks	related	to	the	TCF	Merger:

We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

We	are	expected	to	incur	substantial	costs	related	to	the	Merger	and	integration.	

We	have	incurred	and	expect	to	incur	a	number	of	non-recurring	costs	associated	with	the	Merger.	These	costs	

We	have	incurred	and	expect	to	incur	a	number	of	non-recurring	costs	associated	with	the	Merger.	These	costs	

include	legal,	financial	advisory,	accounting,	consulting	and	other	advisory	fees,	severance/employee	benefit-related	

include	legal,	financial	advisory,	accounting,	consulting	and	other	advisory	fees,	severance/employee	benefit-related	

costs,	public	company	filing	fees	and	other	regulatory	fees	and	financial	printing	and	other	related	costs.	Some	of	

costs,	public	company	filing	fees	and	other	regulatory	fees	and	financial	printing	and	other	related	costs.	Some	of	

these	costs	are	payable	by	us	regardless	of	whether	or	not	the	Merger	is	completed.	

these	costs	are	payable	by	us	regardless	of	whether	or	not	the	Merger	is	completed.	

The	combined	company	is	expected	to	incur	substantial	costs	in	connection	with	the	related	integration.	There	

The	combined	company	is	expected	to	incur	substantial	costs	in	connection	with	the	related	integration.	There	

are	a	large	number	of	processes,	policies,	procedures,	operations,	technologies	and	systems	that	may	need	to	be	

are	a	large	number	of	processes,	policies,	procedures,	operations,	technologies	and	systems	that	may	need	to	be	

integrated,	including	purchasing,	accounting	and	finance,	payroll,	compliance,	treasury	management,	branch	

integrated,	including	purchasing,	accounting	and	finance,	payroll,	compliance,	treasury	management,	branch	

operations,	vendor	management,	risk	management,	lines	of	business,	pricing	and	benefits.	While	we	have	assumed	

operations,	vendor	management,	risk	management,	lines	of	business,	pricing	and	benefits.	While	we	have	assumed	

that	a	certain	level	of	costs	will	be	incurred,	there	are	many	factors	beyond	our	control	that	could	affect	the	total	

that	a	certain	level	of	costs	will	be	incurred,	there	are	many	factors	beyond	our	control	that	could	affect	the	total	

amount	or	the	timing	of	the	integration	costs.	Moreover,	many	of	the	costs	that	will	be	incurred	are,	by	their	nature,	

amount	or	the	timing	of	the	integration	costs.	Moreover,	many	of	the	costs	that	will	be	incurred	are,	by	their	nature,	

difficult	to	estimate	accurately.	These	integration	costs	may	result	in	the	combined	company	taking	charges	against	

difficult	to	estimate	accurately.	These	integration	costs	may	result	in	the	combined	company	taking	charges	against	

Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	Huntington	
Combining	Huntington	and	TCF	may	be	more	difficult,	costly	or	time	consuming	than	expected	and	Huntington	
and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.	
and	TCF	may	fail	to	realize	the	anticipated	benefits	of	the	Merger.	

The	success	of	the	Merger	will	depend,	in	part,	on	the	ability	to	realize	the	anticipated	cost	savings	from	
The	success	of	the	Merger	will	depend,	in	part,	on	the	ability	to	realize	the	anticipated	cost	savings	from	
combining	the	businesses	of	Huntington	and	TCF.	To	realize	the	anticipated	benefits	and	cost	savings	from	the	
combining	the	businesses	of	Huntington	and	TCF.	To	realize	the	anticipated	benefits	and	cost	savings	from	the	
Merger,	Huntington	and	TCF	must	successfully	integrate	and	combine	their	businesses	in	a	manner	that	permits	
Merger,	Huntington	and	TCF	must	successfully	integrate	and	combine	their	businesses	in	a	manner	that	permits	
those	cost	savings	to	be	realized.	If	Huntington	and	TCF	are	not	able	to	successfully	achieve	these	objectives,	the	
those	cost	savings	to	be	realized.	If	Huntington	and	TCF	are	not	able	to	successfully	achieve	these	objectives,	the	
anticipated	benefits	of	the	Merger	may	not	be	realized	fully	or	at	all	or	may	take	longer	to	realize	than	expected.	In	
anticipated	benefits	of	the	Merger	may	not	be	realized	fully	or	at	all	or	may	take	longer	to	realize	than	expected.	In	
addition,	the	actual	cost	savings	and	anticipated	benefits	of	the	Merger	could	be	less	than	anticipated,	and	
addition,	the	actual	cost	savings	and	anticipated	benefits	of	the	Merger	could	be	less	than	anticipated,	and	
integration	may	result	in	additional	unforeseen	expenses.	
integration	may	result	in	additional	unforeseen	expenses.	

Huntington	and	TCF	have	operated	and,	until	the	completion	of	the	Merger,	must	continue	to	operate,	
Huntington	and	TCF	have	operated	and,	until	the	completion	of	the	Merger,	must	continue	to	operate,	

independently.	It	is	possible	that	the	integration	process	could	result	in	the	loss	of	key	employees,	the	disruption	of	
independently.	It	is	possible	that	the	integration	process	could	result	in	the	loss	of	key	employees,	the	disruption	of	
each	company’s	ongoing	businesses	or	inconsistencies	in	standards,	controls,	procedures	and	policies	that	adversely	
each	company’s	ongoing	businesses	or	inconsistencies	in	standards,	controls,	procedures	and	policies	that	adversely	
affect	the	companies’	ability	to	maintain	relationships	with	clients,	customers,	depositors	and	employees	or	to	
affect	the	companies’	ability	to	maintain	relationships	with	clients,	customers,	depositors	and	employees	or	to	
achieve	the	anticipated	benefits	and	cost	savings	of	the	Merger.	Integration	efforts	between	the	two	companies	may	
achieve	the	anticipated	benefits	and	cost	savings	of	the	Merger.	Integration	efforts	between	the	two	companies	may	
also	divert	management	attention	and	resources.	In	addition,	the	impacts	of	the	COVID-19	pandemic	may	make	it	
also	divert	management	attention	and	resources.	In	addition,	the	impacts	of	the	COVID-19	pandemic	may	make	it	
more	costly	or	more	difficult	to	integrate	the	businesses	of	Huntington	and	TCF,	which,	in	turn,	may	make	it	more	
more	costly	or	more	difficult	to	integrate	the	businesses	of	Huntington	and	TCF,	which,	in	turn,	may	make	it	more	
difficult	for	the	combined	company	to	realize	anticipated	synergies	or	cost	savings	in	the	amounts	estimated	or	in	
difficult	for	the	combined	company	to	realize	anticipated	synergies	or	cost	savings	in	the	amounts	estimated	or	in	
the	timeframe	contemplated	or	at	all.	These	integration	matters	could	have	an	adverse	effect	on	each	of	Huntington	
the	timeframe	contemplated	or	at	all.	These	integration	matters	could	have	an	adverse	effect	on	each	of	Huntington	
and	TCF	during	this	transition	period	and	for	an	undetermined	period	after	completion	of	the	Merger	on	the	
and	TCF	during	this	transition	period	and	for	an	undetermined	period	after	completion	of	the	Merger	on	the	
combined	company.	
combined	company.	

The	future	results	of	the	combined	company	following	the	Merger	may	suffer	if	the	combined	company	does	not	
The	future	results	of	the	combined	company	following	the	Merger	may	suffer	if	the	combined	company	does	not	
effectively	manage	its	expanded	operations.	
effectively	manage	its	expanded	operations.	

Following	the	Merger,	the	size	of	the	business	of	the	combined	company	will	increase	significantly	beyond	the	
Following	the	Merger,	the	size	of	the	business	of	the	combined	company	will	increase	significantly	beyond	the	
current	size	of	either	Huntington’s	or	TCF’s	business.	The	combined	company’s	future	success	will	depend,	in	part,	
current	size	of	either	Huntington’s	or	TCF’s	business.	The	combined	company’s	future	success	will	depend,	in	part,	
upon	its	ability	to	manage	this	expanded	business,	which	may	pose	challenges	for	management,	including	challenges	
upon	its	ability	to	manage	this	expanded	business,	which	may	pose	challenges	for	management,	including	challenges	
related	to	the	management	and	monitoring	of	new	operations	and	associated	increased	costs	and	complexity.	The	
related	to	the	management	and	monitoring	of	new	operations	and	associated	increased	costs	and	complexity.	The	
combined	company	may	also	face	increased	scrutiny	from	governmental	authorities	as	a	result	of	the	significant	
combined	company	may	also	face	increased	scrutiny	from	governmental	authorities	as	a	result	of	the	significant	
increase	in	the	size	of	its	business.	There	can	be	no	assurances	that	the	combined	company	will	be	successful	or	that	
increase	in	the	size	of	its	business.	There	can	be	no	assurances	that	the	combined	company	will	be	successful	or	that	
it	will	realize	the	expected	operating	efficiencies,	cost	savings,	revenue	enhancements	or	other	benefits	currently	
it	will	realize	the	expected	operating	efficiencies,	cost	savings,	revenue	enhancements	or	other	benefits	currently	
anticipated	from	the	Merger.	
anticipated	from	the	Merger.	

The	combined	company	may	be	unable	to	retain	Huntington	or	TCF	personnel	successfully	while	the	Merger	is	
The	combined	company	may	be	unable	to	retain	Huntington	or	TCF	personnel	successfully	while	the	Merger	is	
pending	or	after	the	Merger	is	completed.	
pending	or	after	the	Merger	is	completed.	

The	success	of	the	Merger	will	depend	in	part	on	the	combined	company’s	ability	to	retain	key	employees	
The	success	of	the	Merger	will	depend	in	part	on	the	combined	company’s	ability	to	retain	key	employees	
currently	employed	by	Huntington	and	TCF.	It	is	possible	that	these	employees	may	decide	not	to	remain	with	
currently	employed	by	Huntington	and	TCF.	It	is	possible	that	these	employees	may	decide	not	to	remain	with	
Huntington	or	TCF,	as	applicable,	while	the	Merger	is	pending	or	with	the	combined	company	after	the	Merger	is	
Huntington	or	TCF,	as	applicable,	while	the	Merger	is	pending	or	with	the	combined	company	after	the	Merger	is	
consummated.	If	Huntington	and	TCF	are	unable	to	retain	key	employees,	including	management,	who	are	critical	to	
consummated.	If	Huntington	and	TCF	are	unable	to	retain	key	employees,	including	management,	who	are	critical	to	
the	successful	integration	and	future	operations	of	the	companies,	Huntington	and	TCF	could	face	disruptions	in	
the	successful	integration	and	future	operations	of	the	companies,	Huntington	and	TCF	could	face	disruptions	in	
their	operations,	loss	of	existing	customers,	loss	of	key	information,	expertise	or	know-how	and	unanticipated	
their	operations,	loss	of	existing	customers,	loss	of	key	information,	expertise	or	know-how	and	unanticipated	
additional	recruitment	costs.	In	addition,	if	key	employees	terminate	their	employment,	the	combined	company’s	
additional	recruitment	costs.	In	addition,	if	key	employees	terminate	their	employment,	the	combined	company’s	
business	activities	may	be	adversely	affected	and	management’s	attention	may	be	diverted	from	successfully	
business	activities	may	be	adversely	affected	and	management’s	attention	may	be	diverted	from	successfully	
integrating	Huntington	and	TCF	to	hiring	suitable	replacements,	all	of	which	may	cause	the	combined	company’s	
integrating	Huntington	and	TCF	to	hiring	suitable	replacements,	all	of	which	may	cause	the	combined	company’s	
business	to	suffer.	In	addition,	Huntington	and	TCF	may	not	be	able	to	locate	or	retain	suitable	replacements	for	any	
business	to	suffer.	In	addition,	Huntington	and	TCF	may	not	be	able	to	locate	or	retain	suitable	replacements	for	any	
key	employees	who	leave	either	company.	
key	employees	who	leave	either	company.	

40					Huntington	Bancshares	Incorporated

40					Huntington	Bancshares	Incorporated

2020	Form	10-K					41
2020	Form	10-K					41

The	COVID-19	pandemic	may	delay	and	adversely	affect	the	completion	of	the	Merger.	
The	COVID-19	pandemic	may	delay	and	adversely	affect	the	completion	of	the	Merger.	

The	COVID-19	pandemic	has	created	economic	and	financial	disruptions	that	have	adversely	affected,	and	are	
The	COVID-19	pandemic	has	created	economic	and	financial	disruptions	that	have	adversely	affected,	and	are	
likely	to	continue	to	adversely	affect,	the	business,	financial	condition,	liquidity,	capital	and	results	of	operations	of	
likely	to	continue	to	adversely	affect,	the	business,	financial	condition,	liquidity,	capital	and	results	of	operations	of	
Huntington	and	TCF.	If	the	effects	of	the	COVID-19	pandemic	cause	continued	or	extended	decline	in	the	economic	
Huntington	and	TCF.	If	the	effects	of	the	COVID-19	pandemic	cause	continued	or	extended	decline	in	the	economic	
environment	and	the	financial	results	of	Huntington	or	TCF,	or	the	business	operations	of	Huntington	or	TCF	are	
environment	and	the	financial	results	of	Huntington	or	TCF,	or	the	business	operations	of	Huntington	or	TCF	are	
further	disrupted	as	a	result	of	the	COVID-19	pandemic,	efforts	to	complete	the	Merger	and	integrate	the	businesses	
further	disrupted	as	a	result	of	the	COVID-19	pandemic,	efforts	to	complete	the	Merger	and	integrate	the	businesses	
of	Huntington	and	TCF	may	also	be	delayed	and	adversely	affected.	Additional	time	may	be	required	to	obtain	the	
of	Huntington	and	TCF	may	also	be	delayed	and	adversely	affected.	Additional	time	may	be	required	to	obtain	the	
requisite	regulatory	approvals,	and	the	Federal	Reserve,	the	OCC	and/or	other	regulators	may	impose	additional	
requisite	regulatory	approvals,	and	the	Federal	Reserve,	the	OCC	and/or	other	regulators	may	impose	additional	
requirements	on	Huntington	or	TCF	that	must	be	satisfied	prior	to	completion	of	the	Merger,	which	could	delay	and	
requirements	on	Huntington	or	TCF	that	must	be	satisfied	prior	to	completion	of	the	Merger,	which	could	delay	and	
adversely	affect	the	completion	of	the	Merger.	
adversely	affect	the	completion	of	the	Merger.	

Regulatory	approvals	may	not	be	received,	may	take	longer	than	expected	or	may	impose	conditions	that	are	not	
Regulatory	approvals	may	not	be	received,	may	take	longer	than	expected	or	may	impose	conditions	that	are	not	
presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	Merger.	
presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	Merger.	

Before	the	Merger	and	the	Bank	Merger	may	be	completed,	various	approvals,	consents	and	non-objections	
Before	the	Merger	and	the	Bank	Merger	may	be	completed,	various	approvals,	consents	and	non-objections	
must	be	obtained	from	the	Federal	Reserve,	the	OCC	and	other	regulatory	authorities.	These	approvals	could	be	
must	be	obtained	from	the	Federal	Reserve,	the	OCC	and	other	regulatory	authorities.	These	approvals	could	be	
delayed	or	not	obtained	at	all,	including	due	to	any	or	all	of	the	following:	an	adverse	development	in	either	party’s	
delayed	or	not	obtained	at	all,	including	due	to	any	or	all	of	the	following:	an	adverse	development	in	either	party’s	
regulatory	standing,	or	any	other	factors	considered	by	regulators	in	granting	such	approvals;	governmental,	political	
regulatory	standing,	or	any	other	factors	considered	by	regulators	in	granting	such	approvals;	governmental,	political	
or	community	group	inquiries,	investigations	or	opposition;	changes	in	legislation	or	the	political	environment,	
or	community	group	inquiries,	investigations	or	opposition;	changes	in	legislation	or	the	political	environment,	
including	as	a	result	of	changes	of	the	U.S.	executive	administration,	Congressional	leadership	and	regulatory	agency	
including	as	a	result	of	changes	of	the	U.S.	executive	administration,	Congressional	leadership	and	regulatory	agency	
leadership;	or	impacts	and	disruptions	resulting	from	the	COVID-19	pandemic.	
leadership;	or	impacts	and	disruptions	resulting	from	the	COVID-19	pandemic.	

The	approvals	that	are	granted	may	impose	terms	and	conditions,	limitations,	obligations	or	costs,	require	
The	approvals	that	are	granted	may	impose	terms	and	conditions,	limitations,	obligations	or	costs,	require	
branch	divestitures,	or	place	restrictions	on	the	conduct	of	the	combined	company’s	business	or	require	changes	to	
branch	divestitures,	or	place	restrictions	on	the	conduct	of	the	combined	company’s	business	or	require	changes	to	
the	terms	of	the	transactions	contemplated	by	the	Merger	Agreement.	There	can	be	no	assurance	that	regulators	
the	terms	of	the	transactions	contemplated	by	the	Merger	Agreement.	There	can	be	no	assurance	that	regulators	
will	not	impose	any	such	conditions,	limitations,	obligations	or	restrictions	or	that	such	conditions,	limitations,	
will	not	impose	any	such	conditions,	limitations,	obligations	or	restrictions	or	that	such	conditions,	limitations,	
obligations	or	restrictions	will	not	have	the	effect	of	delaying	the	completion	of	any	of	the	transactions	
obligations	or	restrictions	will	not	have	the	effect	of	delaying	the	completion	of	any	of	the	transactions	
contemplated	by	the	Merger	Agreement,	imposing	additional	material	costs	on	or	materially	limiting	the	revenues	of	
contemplated	by	the	Merger	Agreement,	imposing	additional	material	costs	on	or	materially	limiting	the	revenues	of	
the	combined	company	following	the	Merger	or	will	otherwise	reduce	the	anticipated	benefits	of	the	Merger.	In	
the	combined	company	following	the	Merger	or	will	otherwise	reduce	the	anticipated	benefits	of	the	Merger.	In	
addition,	there	can	be	no	assurance	that	any	such	conditions,	limitations,	obligations	or	restrictions	will	not	result	in	
addition,	there	can	be	no	assurance	that	any	such	conditions,	limitations,	obligations	or	restrictions	will	not	result	in	
the	delay	or	abandonment	of	the	Merger.	Additionally,	the	completion	of	the	Merger	is	conditioned	on	the	absence	
the	delay	or	abandonment	of	the	Merger.	Additionally,	the	completion	of	the	Merger	is	conditioned	on	the	absence	
of	certain	orders,	injunctions	or	decrees	by	any	governmental	entity	of	competent	jurisdiction	that	would	prohibit	or	
of	certain	orders,	injunctions	or	decrees	by	any	governmental	entity	of	competent	jurisdiction	that	would	prohibit	or	
make	illegal	the	completion	of	any	of	the	transactions	contemplated	by	the	Merger	Agreement.	
make	illegal	the	completion	of	any	of	the	transactions	contemplated	by	the	Merger	Agreement.	

Despite	the	parties’	commitments	to	use	their	reasonable	best	efforts	to	respond	to	any	request	for	information	
Despite	the	parties’	commitments	to	use	their	reasonable	best	efforts	to	respond	to	any	request	for	information	
and	resolve	any	objection	that	may	be	asserted	by	any	governmental	entity	with	respect	to	the	Merger	Agreement,	
and	resolve	any	objection	that	may	be	asserted	by	any	governmental	entity	with	respect	to	the	Merger	Agreement,	
neither	Huntington,	TCF	nor	their	respective	subsidiaries	is	required	under	the	terms	of	the	Merger	Agreement	to	
neither	Huntington,	TCF	nor	their	respective	subsidiaries	is	required	under	the	terms	of	the	Merger	Agreement	to	
take	any	action,	or	commit	to	take	any	action,	or	agree	to	any	condition	or	restriction	in	connection	with	obtaining	
take	any	action,	or	commit	to	take	any	action,	or	agree	to	any	condition	or	restriction	in	connection	with	obtaining	
these	approvals,	that	would	reasonably	be	likely	to	have	a	material	adverse	effect	on	the	combined	company	and	its	
these	approvals,	that	would	reasonably	be	likely	to	have	a	material	adverse	effect	on	the	combined	company	and	its	
subsidiaries,	taken	as	a	whole,	after	giving	effect	to	the	Merger.	
subsidiaries,	taken	as	a	whole,	after	giving	effect	to	the	Merger.	

Termination	of	the	Merger	Agreement	could	negatively	affect	Huntington.	
Termination	of	the	Merger	Agreement	could	negatively	affect	Huntington.	

If	the	Merger	is	not	completed	for	any	reason,	including	as	a	result	of	Huntington	shareholders	or	TCF	
If	the	Merger	is	not	completed	for	any	reason,	including	as	a	result	of	Huntington	shareholders	or	TCF	
shareholder	failing	to	approve	the	proposal	for	the	Merger,	there	may	be	various	adverse	consequences	and	
shareholder	failing	to	approve	the	proposal	for	the	Merger,	there	may	be	various	adverse	consequences	and	
Huntington	may	experience	negative	reactions	from	the	financial	markets	and	from	their	customers	and	employees.	
Huntington	may	experience	negative	reactions	from	the	financial	markets	and	from	their	customers	and	employees.	
For	example,	Huntington’s	businesses	may	have	been	affected	adversely	by	the	failure	to	pursue	other	beneficial	
For	example,	Huntington’s	businesses	may	have	been	affected	adversely	by	the	failure	to	pursue	other	beneficial	
opportunities	due	to	the	focus	of	management	on	the	Merger,	without	realizing	any	of	the	anticipated	benefits	of	
opportunities	due	to	the	focus	of	management	on	the	Merger,	without	realizing	any	of	the	anticipated	benefits	of	
completing	the	Merger.	If	the	Merger	Agreement	is	terminated	under	certain	circumstances,	Huntington	may	be	
completing	the	Merger.	If	the	Merger	Agreement	is	terminated	under	certain	circumstances,	Huntington	may	be	
required	to	pay	a	termination	fee	of	$238.8	million	to	TCF.	
required	to	pay	a	termination	fee	of	$238.8	million	to	TCF.	

Additionally,	Huntington	has	incurred	and	will	incur	substantial	expenses	in	connection	with	the	negotiation	and	
Additionally,	Huntington	has	incurred	and	will	incur	substantial	expenses	in	connection	with	the	negotiation	and	

completion	of	the	transactions	contemplated	by	the	Merger	Agreement,	including	legal,	accounting	and	financial	
completion	of	the	transactions	contemplated	by	the	Merger	Agreement,	including	legal,	accounting	and	financial	
advisory	costs,	as	well	as	the	costs	and	expenses	of	filing,	printing	and	mailing	the	joint	proxy	statement/prospectus	
advisory	costs,	as	well	as	the	costs	and	expenses	of	filing,	printing	and	mailing	the	joint	proxy	statement/prospectus	

for	the	Merger,	and	all	filing	and	other	fees	paid	to	the	SEC	in	connection	with	the	Merger.	If	the	Merger	is	not	

for	the	Merger,	and	all	filing	and	other	fees	paid	to	the	SEC	in	connection	with	the	Merger.	If	the	Merger	is	not	

completed,	Huntington	would	have	to	pay	these	expenses	without	realizing	the	expected	benefits	of	the	Merger.	

completed,	Huntington	would	have	to	pay	these	expenses	without	realizing	the	expected	benefits	of	the	Merger.	

Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	pending.	

Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	pending.	

Uncertainty	about	the	effect	of	the	Merger	on	employees	and	customers	may	have	an	adverse	effect	on	

Uncertainty	about	the	effect	of	the	Merger	on	employees	and	customers	may	have	an	adverse	effect	on	

Huntington.	These	uncertainties	may	impair	Huntington’s	ability	to	attract,	retain	and	motivate	key	personnel	until	

Huntington.	These	uncertainties	may	impair	Huntington’s	ability	to	attract,	retain	and	motivate	key	personnel	until	

the	Merger	is	completed,	and	could	cause	customers	and	others	that	deal	with	Huntington	to	seek	to	change	

the	Merger	is	completed,	and	could	cause	customers	and	others	that	deal	with	Huntington	to	seek	to	change	

existing	business	relationships	with	Huntington.	In	addition,	subject	to	certain	exceptions,	Huntington	has	agreed	to	

existing	business	relationships	with	Huntington.	In	addition,	subject	to	certain	exceptions,	Huntington	has	agreed	to	

operate	its	business	in	the	ordinary	course	prior	to	closing,	and	has	agreed	not	to	take	certain	actions,	which	could	

operate	its	business	in	the	ordinary	course	prior	to	closing,	and	has	agreed	not	to	take	certain	actions,	which	could	

cause	Huntington	to	be	unable	to	pursue	other	beneficial	opportunities	that	may	arise	prior	to	the	completion	of	the	

cause	Huntington	to	be	unable	to	pursue	other	beneficial	opportunities	that	may	arise	prior	to	the	completion	of	the	

Merger.	

Merger.	

Time.	

Time.	

Shareholder	litigation	could	prevent	or	delay	the	closing	of	the	Merger	or	otherwise	negatively	affect	the	business	

Shareholder	litigation	could	prevent	or	delay	the	closing	of	the	Merger	or	otherwise	negatively	affect	the	business	

and	operations	of	Huntington.	

and	operations	of	Huntington.	

Huntington	may	incur	costs	in	connection	with	the	defense	or	settlement	of	any	shareholder	lawsuits	filed	in	

Huntington	may	incur	costs	in	connection	with	the	defense	or	settlement	of	any	shareholder	lawsuits	filed	in	

connection	with	the	Merger.	Such	litigation	could	have	an	adverse	effect	on	the	financial	condition	and	results	of	

connection	with	the	Merger.	Such	litigation	could	have	an	adverse	effect	on	the	financial	condition	and	results	of	

operations	of	Huntington	and	could	prevent	or	delay	the	consummation	of	the	Merger.	

operations	of	Huntington	and	could	prevent	or	delay	the	consummation	of	the	Merger.	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	

Time.	Subject	to	certain	specified	exceptions,	the	Merger	Agreement	obligates	Huntington	to,	and	to	cause	each	of	

Time.	Subject	to	certain	specified	exceptions,	the	Merger	Agreement	obligates	Huntington	to,	and	to	cause	each	of	

its	subsidiaries	to,	take	no	action	that	would	reasonably	be	likely	to	adversely	affect	or	delay	the	ability	of	either	

its	subsidiaries	to,	take	no	action	that	would	reasonably	be	likely	to	adversely	affect	or	delay	the	ability	of	either	

Huntington	or	TCF	to	obtain	any	necessary	approvals	of	any	regulatory	agency	or	other	governmental	entity	

Huntington	or	TCF	to	obtain	any	necessary	approvals	of	any	regulatory	agency	or	other	governmental	entity	

required	for	the	transactions	contemplated	by	the	Merger	Agreement	or	to	perform	its	respective	covenants	and	

required	for	the	transactions	contemplated	by	the	Merger	Agreement	or	to	perform	its	respective	covenants	and	

agreements	under	the	Merger	Agreement	or	to	consummate	the	transactions	contemplated	by	the	Merger	

agreements	under	the	Merger	Agreement	or	to	consummate	the	transactions	contemplated	by	the	Merger	

Agreement	on	a	timely	basis.	These	restrictions	could	prevent	Huntington	from	pursuing	certain	business	

Agreement	on	a	timely	basis.	These	restrictions	could	prevent	Huntington	from	pursuing	certain	business	

opportunities	that	arise	prior	to	the	Effective	Time.	

opportunities	that	arise	prior	to	the	Effective	Time.	

The	COVID-19	pandemic’s	impact	on	the	combined	company’s	business	and	operations	is	uncertain.	

The	COVID-19	pandemic’s	impact	on	the	combined	company’s	business	and	operations	is	uncertain.	

The	extent	to	which	the	COVID-19	pandemic	will	negatively	affect	the	business,	financial	condition,	liquidity,	

The	extent	to	which	the	COVID-19	pandemic	will	negatively	affect	the	business,	financial	condition,	liquidity,	

capital	and	results	of	operations	of	the	combined	company	will	depend	on	future	developments,	which	are	highly	

capital	and	results	of	operations	of	the	combined	company	will	depend	on	future	developments,	which	are	highly	

uncertain	and	cannot	be	predicted,	including	the	scope	and	duration	of	the	COVID-19	pandemic,	the	direct	and	

uncertain	and	cannot	be	predicted,	including	the	scope	and	duration	of	the	COVID-19	pandemic,	the	direct	and	

indirect	impact	of	the	COVID-19	pandemic	on	employees,	clients,	counterparties	and	service	providers,	as	well	as	

indirect	impact	of	the	COVID-19	pandemic	on	employees,	clients,	counterparties	and	service	providers,	as	well	as	

other	market	participants,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	

other	market	participants,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	

COVID-19	pandemic.	Given	the	ongoing	and	dynamic	nature	of	the	circumstances,	it	is	difficult	to	predict	the	impact	

COVID-19	pandemic.	Given	the	ongoing	and	dynamic	nature	of	the	circumstances,	it	is	difficult	to	predict	the	impact	

of	the	COVID-19	pandemic	on	the	combined	company’s	business,	and	there	is	no	guarantee	that	efforts	by	the	

of	the	COVID-19	pandemic	on	the	combined	company’s	business,	and	there	is	no	guarantee	that	efforts	by	the	

combined	company	to	address	the	adverse	impacts	of	the	COVID-19	pandemic	will	be	effective.	

combined	company	to	address	the	adverse	impacts	of	the	COVID-19	pandemic	will	be	effective.	

Even	after	the	COVID-19	pandemic	has	subsided,	the	combined	company	may	continue	to	experience	adverse	

Even	after	the	COVID-19	pandemic	has	subsided,	the	combined	company	may	continue	to	experience	adverse	

impacts	to	its	business	as	a	result	of	the	COVID-19	pandemic’s	global	economic	impact,	including	reduced	availability	

impacts	to	its	business	as	a	result	of	the	COVID-19	pandemic’s	global	economic	impact,	including	reduced	availability	

of	credit,	adverse	impacts	on	liquidity	and	the	negative	financial	effects	from	any	recession	or	depression	that	may	

of	credit,	adverse	impacts	on	liquidity	and	the	negative	financial	effects	from	any	recession	or	depression	that	may	

occur.	

occur.	

None.

None.

Item	1B:	Unresolved	Staff	Comments

Item	1B:	Unresolved	Staff	Comments

42					Huntington	Bancshares	Incorporated
42					Huntington	Bancshares	Incorporated

2020	Form	10-K					43

2020	Form	10-K					43

The	COVID-19	pandemic	may	delay	and	adversely	affect	the	completion	of	the	Merger.	

The	COVID-19	pandemic	may	delay	and	adversely	affect	the	completion	of	the	Merger.	

The	COVID-19	pandemic	has	created	economic	and	financial	disruptions	that	have	adversely	affected,	and	are	

The	COVID-19	pandemic	has	created	economic	and	financial	disruptions	that	have	adversely	affected,	and	are	

for	the	Merger,	and	all	filing	and	other	fees	paid	to	the	SEC	in	connection	with	the	Merger.	If	the	Merger	is	not	
for	the	Merger,	and	all	filing	and	other	fees	paid	to	the	SEC	in	connection	with	the	Merger.	If	the	Merger	is	not	
completed,	Huntington	would	have	to	pay	these	expenses	without	realizing	the	expected	benefits	of	the	Merger.	
completed,	Huntington	would	have	to	pay	these	expenses	without	realizing	the	expected	benefits	of	the	Merger.	

likely	to	continue	to	adversely	affect,	the	business,	financial	condition,	liquidity,	capital	and	results	of	operations	of	

likely	to	continue	to	adversely	affect,	the	business,	financial	condition,	liquidity,	capital	and	results	of	operations	of	

Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	pending.	
Huntington	will	be	subject	to	business	uncertainties	and	contractual	restrictions	while	the	Merger	is	pending.	

Huntington	and	TCF.	If	the	effects	of	the	COVID-19	pandemic	cause	continued	or	extended	decline	in	the	economic	

Huntington	and	TCF.	If	the	effects	of	the	COVID-19	pandemic	cause	continued	or	extended	decline	in	the	economic	

environment	and	the	financial	results	of	Huntington	or	TCF,	or	the	business	operations	of	Huntington	or	TCF	are	

environment	and	the	financial	results	of	Huntington	or	TCF,	or	the	business	operations	of	Huntington	or	TCF	are	

further	disrupted	as	a	result	of	the	COVID-19	pandemic,	efforts	to	complete	the	Merger	and	integrate	the	businesses	

further	disrupted	as	a	result	of	the	COVID-19	pandemic,	efforts	to	complete	the	Merger	and	integrate	the	businesses	

of	Huntington	and	TCF	may	also	be	delayed	and	adversely	affected.	Additional	time	may	be	required	to	obtain	the	

of	Huntington	and	TCF	may	also	be	delayed	and	adversely	affected.	Additional	time	may	be	required	to	obtain	the	

requisite	regulatory	approvals,	and	the	Federal	Reserve,	the	OCC	and/or	other	regulators	may	impose	additional	

requisite	regulatory	approvals,	and	the	Federal	Reserve,	the	OCC	and/or	other	regulators	may	impose	additional	

requirements	on	Huntington	or	TCF	that	must	be	satisfied	prior	to	completion	of	the	Merger,	which	could	delay	and	

requirements	on	Huntington	or	TCF	that	must	be	satisfied	prior	to	completion	of	the	Merger,	which	could	delay	and	

adversely	affect	the	completion	of	the	Merger.	

adversely	affect	the	completion	of	the	Merger.	

Regulatory	approvals	may	not	be	received,	may	take	longer	than	expected	or	may	impose	conditions	that	are	not	

Regulatory	approvals	may	not	be	received,	may	take	longer	than	expected	or	may	impose	conditions	that	are	not	

presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	Merger.	

presently	anticipated	or	that	could	have	an	adverse	effect	on	the	combined	company	following	the	Merger.	

Before	the	Merger	and	the	Bank	Merger	may	be	completed,	various	approvals,	consents	and	non-objections	

Before	the	Merger	and	the	Bank	Merger	may	be	completed,	various	approvals,	consents	and	non-objections	

must	be	obtained	from	the	Federal	Reserve,	the	OCC	and	other	regulatory	authorities.	These	approvals	could	be	

must	be	obtained	from	the	Federal	Reserve,	the	OCC	and	other	regulatory	authorities.	These	approvals	could	be	

delayed	or	not	obtained	at	all,	including	due	to	any	or	all	of	the	following:	an	adverse	development	in	either	party’s	

delayed	or	not	obtained	at	all,	including	due	to	any	or	all	of	the	following:	an	adverse	development	in	either	party’s	

regulatory	standing,	or	any	other	factors	considered	by	regulators	in	granting	such	approvals;	governmental,	political	

regulatory	standing,	or	any	other	factors	considered	by	regulators	in	granting	such	approvals;	governmental,	political	

or	community	group	inquiries,	investigations	or	opposition;	changes	in	legislation	or	the	political	environment,	

or	community	group	inquiries,	investigations	or	opposition;	changes	in	legislation	or	the	political	environment,	

including	as	a	result	of	changes	of	the	U.S.	executive	administration,	Congressional	leadership	and	regulatory	agency	

including	as	a	result	of	changes	of	the	U.S.	executive	administration,	Congressional	leadership	and	regulatory	agency	

leadership;	or	impacts	and	disruptions	resulting	from	the	COVID-19	pandemic.	

leadership;	or	impacts	and	disruptions	resulting	from	the	COVID-19	pandemic.	

The	approvals	that	are	granted	may	impose	terms	and	conditions,	limitations,	obligations	or	costs,	require	

The	approvals	that	are	granted	may	impose	terms	and	conditions,	limitations,	obligations	or	costs,	require	

branch	divestitures,	or	place	restrictions	on	the	conduct	of	the	combined	company’s	business	or	require	changes	to	

branch	divestitures,	or	place	restrictions	on	the	conduct	of	the	combined	company’s	business	or	require	changes	to	

the	terms	of	the	transactions	contemplated	by	the	Merger	Agreement.	There	can	be	no	assurance	that	regulators	

the	terms	of	the	transactions	contemplated	by	the	Merger	Agreement.	There	can	be	no	assurance	that	regulators	

will	not	impose	any	such	conditions,	limitations,	obligations	or	restrictions	or	that	such	conditions,	limitations,	

will	not	impose	any	such	conditions,	limitations,	obligations	or	restrictions	or	that	such	conditions,	limitations,	

obligations	or	restrictions	will	not	have	the	effect	of	delaying	the	completion	of	any	of	the	transactions	

obligations	or	restrictions	will	not	have	the	effect	of	delaying	the	completion	of	any	of	the	transactions	

contemplated	by	the	Merger	Agreement,	imposing	additional	material	costs	on	or	materially	limiting	the	revenues	of	

contemplated	by	the	Merger	Agreement,	imposing	additional	material	costs	on	or	materially	limiting	the	revenues	of	

the	combined	company	following	the	Merger	or	will	otherwise	reduce	the	anticipated	benefits	of	the	Merger.	In	

the	combined	company	following	the	Merger	or	will	otherwise	reduce	the	anticipated	benefits	of	the	Merger.	In	

addition,	there	can	be	no	assurance	that	any	such	conditions,	limitations,	obligations	or	restrictions	will	not	result	in	

addition,	there	can	be	no	assurance	that	any	such	conditions,	limitations,	obligations	or	restrictions	will	not	result	in	

the	delay	or	abandonment	of	the	Merger.	Additionally,	the	completion	of	the	Merger	is	conditioned	on	the	absence	

the	delay	or	abandonment	of	the	Merger.	Additionally,	the	completion	of	the	Merger	is	conditioned	on	the	absence	

of	certain	orders,	injunctions	or	decrees	by	any	governmental	entity	of	competent	jurisdiction	that	would	prohibit	or	

of	certain	orders,	injunctions	or	decrees	by	any	governmental	entity	of	competent	jurisdiction	that	would	prohibit	or	

make	illegal	the	completion	of	any	of	the	transactions	contemplated	by	the	Merger	Agreement.	

make	illegal	the	completion	of	any	of	the	transactions	contemplated	by	the	Merger	Agreement.	

Despite	the	parties’	commitments	to	use	their	reasonable	best	efforts	to	respond	to	any	request	for	information	

Despite	the	parties’	commitments	to	use	their	reasonable	best	efforts	to	respond	to	any	request	for	information	

and	resolve	any	objection	that	may	be	asserted	by	any	governmental	entity	with	respect	to	the	Merger	Agreement,	

and	resolve	any	objection	that	may	be	asserted	by	any	governmental	entity	with	respect	to	the	Merger	Agreement,	

neither	Huntington,	TCF	nor	their	respective	subsidiaries	is	required	under	the	terms	of	the	Merger	Agreement	to	

neither	Huntington,	TCF	nor	their	respective	subsidiaries	is	required	under	the	terms	of	the	Merger	Agreement	to	

take	any	action,	or	commit	to	take	any	action,	or	agree	to	any	condition	or	restriction	in	connection	with	obtaining	

take	any	action,	or	commit	to	take	any	action,	or	agree	to	any	condition	or	restriction	in	connection	with	obtaining	

these	approvals,	that	would	reasonably	be	likely	to	have	a	material	adverse	effect	on	the	combined	company	and	its	

these	approvals,	that	would	reasonably	be	likely	to	have	a	material	adverse	effect	on	the	combined	company	and	its	

subsidiaries,	taken	as	a	whole,	after	giving	effect	to	the	Merger.	

subsidiaries,	taken	as	a	whole,	after	giving	effect	to	the	Merger.	

Termination	of	the	Merger	Agreement	could	negatively	affect	Huntington.	

Termination	of	the	Merger	Agreement	could	negatively	affect	Huntington.	

If	the	Merger	is	not	completed	for	any	reason,	including	as	a	result	of	Huntington	shareholders	or	TCF	

If	the	Merger	is	not	completed	for	any	reason,	including	as	a	result	of	Huntington	shareholders	or	TCF	

shareholder	failing	to	approve	the	proposal	for	the	Merger,	there	may	be	various	adverse	consequences	and	

shareholder	failing	to	approve	the	proposal	for	the	Merger,	there	may	be	various	adverse	consequences	and	

Huntington	may	experience	negative	reactions	from	the	financial	markets	and	from	their	customers	and	employees.	

Huntington	may	experience	negative	reactions	from	the	financial	markets	and	from	their	customers	and	employees.	

For	example,	Huntington’s	businesses	may	have	been	affected	adversely	by	the	failure	to	pursue	other	beneficial	

For	example,	Huntington’s	businesses	may	have	been	affected	adversely	by	the	failure	to	pursue	other	beneficial	

opportunities	due	to	the	focus	of	management	on	the	Merger,	without	realizing	any	of	the	anticipated	benefits	of	

opportunities	due	to	the	focus	of	management	on	the	Merger,	without	realizing	any	of	the	anticipated	benefits	of	

completing	the	Merger.	If	the	Merger	Agreement	is	terminated	under	certain	circumstances,	Huntington	may	be	

completing	the	Merger.	If	the	Merger	Agreement	is	terminated	under	certain	circumstances,	Huntington	may	be	

required	to	pay	a	termination	fee	of	$238.8	million	to	TCF.	

required	to	pay	a	termination	fee	of	$238.8	million	to	TCF.	

Additionally,	Huntington	has	incurred	and	will	incur	substantial	expenses	in	connection	with	the	negotiation	and	

Additionally,	Huntington	has	incurred	and	will	incur	substantial	expenses	in	connection	with	the	negotiation	and	

completion	of	the	transactions	contemplated	by	the	Merger	Agreement,	including	legal,	accounting	and	financial	

completion	of	the	transactions	contemplated	by	the	Merger	Agreement,	including	legal,	accounting	and	financial	

advisory	costs,	as	well	as	the	costs	and	expenses	of	filing,	printing	and	mailing	the	joint	proxy	statement/prospectus	

advisory	costs,	as	well	as	the	costs	and	expenses	of	filing,	printing	and	mailing	the	joint	proxy	statement/prospectus	

Uncertainty	about	the	effect	of	the	Merger	on	employees	and	customers	may	have	an	adverse	effect	on	
Uncertainty	about	the	effect	of	the	Merger	on	employees	and	customers	may	have	an	adverse	effect	on	

Huntington.	These	uncertainties	may	impair	Huntington’s	ability	to	attract,	retain	and	motivate	key	personnel	until	
Huntington.	These	uncertainties	may	impair	Huntington’s	ability	to	attract,	retain	and	motivate	key	personnel	until	
the	Merger	is	completed,	and	could	cause	customers	and	others	that	deal	with	Huntington	to	seek	to	change	
the	Merger	is	completed,	and	could	cause	customers	and	others	that	deal	with	Huntington	to	seek	to	change	
existing	business	relationships	with	Huntington.	In	addition,	subject	to	certain	exceptions,	Huntington	has	agreed	to	
existing	business	relationships	with	Huntington.	In	addition,	subject	to	certain	exceptions,	Huntington	has	agreed	to	
operate	its	business	in	the	ordinary	course	prior	to	closing,	and	has	agreed	not	to	take	certain	actions,	which	could	
operate	its	business	in	the	ordinary	course	prior	to	closing,	and	has	agreed	not	to	take	certain	actions,	which	could	
cause	Huntington	to	be	unable	to	pursue	other	beneficial	opportunities	that	may	arise	prior	to	the	completion	of	the	
cause	Huntington	to	be	unable	to	pursue	other	beneficial	opportunities	that	may	arise	prior	to	the	completion	of	the	
Merger.	
Merger.	

Shareholder	litigation	could	prevent	or	delay	the	closing	of	the	Merger	or	otherwise	negatively	affect	the	business	
Shareholder	litigation	could	prevent	or	delay	the	closing	of	the	Merger	or	otherwise	negatively	affect	the	business	
and	operations	of	Huntington.	
and	operations	of	Huntington.	

Huntington	may	incur	costs	in	connection	with	the	defense	or	settlement	of	any	shareholder	lawsuits	filed	in	
Huntington	may	incur	costs	in	connection	with	the	defense	or	settlement	of	any	shareholder	lawsuits	filed	in	
connection	with	the	Merger.	Such	litigation	could	have	an	adverse	effect	on	the	financial	condition	and	results	of	
connection	with	the	Merger.	Such	litigation	could	have	an	adverse	effect	on	the	financial	condition	and	results	of	
operations	of	Huntington	and	could	prevent	or	delay	the	consummation	of	the	Merger.	
operations	of	Huntington	and	could	prevent	or	delay	the	consummation	of	the	Merger.	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	
The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	
Time.	
Time.	

The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	
The	Merger	Agreement	subjects	Huntington	to	certain	restrictions	on	its	business	activities	prior	to	the	Effective	
Time.	Subject	to	certain	specified	exceptions,	the	Merger	Agreement	obligates	Huntington	to,	and	to	cause	each	of	
Time.	Subject	to	certain	specified	exceptions,	the	Merger	Agreement	obligates	Huntington	to,	and	to	cause	each	of	
its	subsidiaries	to,	take	no	action	that	would	reasonably	be	likely	to	adversely	affect	or	delay	the	ability	of	either	
its	subsidiaries	to,	take	no	action	that	would	reasonably	be	likely	to	adversely	affect	or	delay	the	ability	of	either	
Huntington	or	TCF	to	obtain	any	necessary	approvals	of	any	regulatory	agency	or	other	governmental	entity	
Huntington	or	TCF	to	obtain	any	necessary	approvals	of	any	regulatory	agency	or	other	governmental	entity	
required	for	the	transactions	contemplated	by	the	Merger	Agreement	or	to	perform	its	respective	covenants	and	
required	for	the	transactions	contemplated	by	the	Merger	Agreement	or	to	perform	its	respective	covenants	and	
agreements	under	the	Merger	Agreement	or	to	consummate	the	transactions	contemplated	by	the	Merger	
agreements	under	the	Merger	Agreement	or	to	consummate	the	transactions	contemplated	by	the	Merger	
Agreement	on	a	timely	basis.	These	restrictions	could	prevent	Huntington	from	pursuing	certain	business	
Agreement	on	a	timely	basis.	These	restrictions	could	prevent	Huntington	from	pursuing	certain	business	
opportunities	that	arise	prior	to	the	Effective	Time.	
opportunities	that	arise	prior	to	the	Effective	Time.	

The	COVID-19	pandemic’s	impact	on	the	combined	company’s	business	and	operations	is	uncertain.	
The	COVID-19	pandemic’s	impact	on	the	combined	company’s	business	and	operations	is	uncertain.	

The	extent	to	which	the	COVID-19	pandemic	will	negatively	affect	the	business,	financial	condition,	liquidity,	
The	extent	to	which	the	COVID-19	pandemic	will	negatively	affect	the	business,	financial	condition,	liquidity,	
capital	and	results	of	operations	of	the	combined	company	will	depend	on	future	developments,	which	are	highly	
capital	and	results	of	operations	of	the	combined	company	will	depend	on	future	developments,	which	are	highly	
uncertain	and	cannot	be	predicted,	including	the	scope	and	duration	of	the	COVID-19	pandemic,	the	direct	and	
uncertain	and	cannot	be	predicted,	including	the	scope	and	duration	of	the	COVID-19	pandemic,	the	direct	and	
indirect	impact	of	the	COVID-19	pandemic	on	employees,	clients,	counterparties	and	service	providers,	as	well	as	
indirect	impact	of	the	COVID-19	pandemic	on	employees,	clients,	counterparties	and	service	providers,	as	well	as	
other	market	participants,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	
other	market	participants,	and	actions	taken	by	governmental	authorities	and	other	third	parties	in	response	to	the	
COVID-19	pandemic.	Given	the	ongoing	and	dynamic	nature	of	the	circumstances,	it	is	difficult	to	predict	the	impact	
COVID-19	pandemic.	Given	the	ongoing	and	dynamic	nature	of	the	circumstances,	it	is	difficult	to	predict	the	impact	
of	the	COVID-19	pandemic	on	the	combined	company’s	business,	and	there	is	no	guarantee	that	efforts	by	the	
of	the	COVID-19	pandemic	on	the	combined	company’s	business,	and	there	is	no	guarantee	that	efforts	by	the	
combined	company	to	address	the	adverse	impacts	of	the	COVID-19	pandemic	will	be	effective.	
combined	company	to	address	the	adverse	impacts	of	the	COVID-19	pandemic	will	be	effective.	

Even	after	the	COVID-19	pandemic	has	subsided,	the	combined	company	may	continue	to	experience	adverse	
Even	after	the	COVID-19	pandemic	has	subsided,	the	combined	company	may	continue	to	experience	adverse	
impacts	to	its	business	as	a	result	of	the	COVID-19	pandemic’s	global	economic	impact,	including	reduced	availability	
impacts	to	its	business	as	a	result	of	the	COVID-19	pandemic’s	global	economic	impact,	including	reduced	availability	
of	credit,	adverse	impacts	on	liquidity	and	the	negative	financial	effects	from	any	recession	or	depression	that	may	
of	credit,	adverse	impacts	on	liquidity	and	the	negative	financial	effects	from	any	recession	or	depression	that	may	
occur.	
occur.	

Item	1B:	Unresolved	Staff	Comments
Item	1B:	Unresolved	Staff	Comments

None.
None.

42					Huntington	Bancshares	Incorporated

42					Huntington	Bancshares	Incorporated

2020	Form	10-K					43
2020	Form	10-K					43

Item	2:	PropertiesOur	headquarters,	as	well	as	the	Bank’s,	is	located	in	the	Huntington	Center,	a	thirty-seven	story	office	building	located	in	Columbus,	Ohio.		Of	the	building’s	total	office	space	available,	we	lease	approximately	22%.		The	lease	term	expires	in	2030,	with	six	five-year	renewal	options	for	up	to	30	years	but	with	no	purchase	option.		The	Bank	has	an	indirect	minority	equity	interest	of	18%	in	the	building.Our	other	major	properties	consist	of	the	following:DescriptionLocationPrimary	Business	SegmentUtilization	of	Property	for	HBI	purposesOwnLeaseTower	Building	-	OfficeAkron,	OHRegional	Leadership,	Commercial	Banking,	Business	Banking,	Private	Client	Banking,	Trust,	Bank	Operations,	Retail	Bank	Branch57%üCascade	III	(own	building,	lease	land)Akron,	OHCompliance,	Consumer	&	Private	Bank	Technology,	Corporate	Sourcing,	Bank	Operations,	Indirect	Lending,	Information	Security	Services63%üüEaston	-	HNB	Business	Service	CenterColumbus,	OHBank	Operations,	Vehicle	Finance,	Business	Banking	Credit,	Technology,	Special	Assets,	Human	Resources80%üCapitol	SquareColumbus,	OHBank	Security,	Internal	Audit,	Risk	Administration,	Treasury	Management,	Retail	Bank	Branch63%üGateway	CenterColumbus,	OHBank	Operations,	Corporate	Sourcing,	Indirect	Loan,	Insurance,	Phone	Bank73%üHuntington	Center	(lease	a	portion	of	building)Columbus,	OHBank	Administration,	Private	Client	Group,	Commercial	Risk,	Treasury,	Finance,	Accounting,	Legal,	Marketing,	Human	Resources,	Tax76%üHuntington	PlazaColumbus,	OHBank	Operations,	Compliance,	HIC,	Human	Resources,	Insurance75%üIndianapolis	MainIndianapolis,	INRegional	Leadership,	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	HIC,	Trust,	Private	Client61%üDowntown	SaginawSaginaw,	MIRegional	Leadership,	Private	Banking,	Retail	Bank	Branch15%üMahoning	Federal	Plaza	BuildingYoungstown,	OHBusiness	Banking	Credit,	Bank	Operations,	Commercial	Banking64%üThe	major	properties	occupied	by	the	Company	are	used	across	all	of	the	business	segments	and	for	corporate	purposes.Item	3:	Legal	ProceedingsInformation	required	by	this	item	is	set	forth	in	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	under	the	caption	“Litigation	and	Regulatory	Matters”	and	is	incorporated	into	this	Item	by	reference.Item	4:	Mine	Safety	DisclosuresNot	applicable.44					Huntington	Bancshares	IncorporatedPART	IIItem	5:	Market	for	Registrant’s	Common	Equity,	Related	Shareholder	Matters	and	Issuer	Purchases	of	Equity	SecuritiesThe	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	the	Nasdaq	Global	Stock	Market	under	the	symbol	“HBAN”.		As	of	January	31,	2021,	we	had	27,384	shareholders	of	record.Information	regarding	restrictions	on	dividends,	as	required	by	this	Item,	is	set	forth	in	Item	1:	“Business	-	Regulatory	Matters”	and	in	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements	and	incorporated	into	this	Item	by	reference.The	following	graph	shows	the	changes,	over	the	five-year	period,	in	the	value	of	$100	invested	in	(i)	shares	of	Huntington’s	Common	Stock;	(ii)	the	Standard	&	Poor’s	500	Stock	Index	(the	S&P	500	Index)	and	(iii)	Keefe,	Bruyette	&	Woods	Bank	Index,	for	the	period	December	31,	2015,	through	December	31,	2020.		The	KBW	Bank	Index	is	a	market	capitalization-weighted	bank	stock	index	published	by	Keefe,	Bruyette	&	Woods.		The	index	is	composed	of	the	largest	banking	companies	and	includes	all	money	center	banks	and	regional	banks,	including	Huntington.		An	investment	of	$100	on	December	31,	2015,	and	the	reinvestment	of	all	dividends,	are	assumed.	The	plotted	points	represent	the	cumulative	total	return	on	the	last	trading	day	of	the	fiscal	year	indicated.	201520162017201820192020HBAN$100$123$139$118$155$138S&P	500100112136130171203KBW	Bank	Index1001291521251711532020	Form	10-K					45HBANS&P	500KBW	Bank	Index12/1512/1612/1712/1812/1912/20$75$100$125$150$175$200$225Item	2:	PropertiesOur	headquarters,	as	well	as	the	Bank’s,	is	located	in	the	Huntington	Center,	a	thirty-seven	story	office	building	located	in	Columbus,	Ohio.		Of	the	building’s	total	office	space	available,	we	lease	approximately	22%.		The	lease	term	expires	in	2030,	with	six	five-year	renewal	options	for	up	to	30	years	but	with	no	purchase	option.		The	Bank	has	an	indirect	minority	equity	interest	of	18%	in	the	building.Our	other	major	properties	consist	of	the	following:DescriptionLocationPrimary	Business	SegmentUtilization	of	Property	for	HBI	purposesOwnLeaseTower	Building	-	OfficeAkron,	OHRegional	Leadership,	Commercial	Banking,	Business	Banking,	Private	Client	Banking,	Trust,	Bank	Operations,	Retail	Bank	Branch57%üCascade	III	(own	building,	lease	land)Akron,	OHCompliance,	Consumer	&	Private	Bank	Technology,	Corporate	Sourcing,	Bank	Operations,	Indirect	Lending,	Information	Security	Services63%üüEaston	-	HNB	Business	Service	CenterColumbus,	OHBank	Operations,	Vehicle	Finance,	Business	Banking	Credit,	Technology,	Special	Assets,	Human	Resources80%üCapitol	SquareColumbus,	OHBank	Security,	Internal	Audit,	Risk	Administration,	Treasury	Management,	Retail	Bank	Branch63%üGateway	CenterColumbus,	OHBank	Operations,	Corporate	Sourcing,	Indirect	Loan,	Insurance,	Phone	Bank73%üHuntington	Center	(lease	a	portion	of	building)Columbus,	OHBank	Administration,	Private	Client	Group,	Commercial	Risk,	Treasury,	Finance,	Accounting,	Legal,	Marketing,	Human	Resources,	Tax76%üHuntington	PlazaColumbus,	OHBank	Operations,	Compliance,	HIC,	Human	Resources,	Insurance75%üIndianapolis	MainIndianapolis,	INRegional	Leadership,	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	HIC,	Trust,	Private	Client61%üDowntown	SaginawSaginaw,	MIRegional	Leadership,	Private	Banking,	Retail	Bank	Branch15%üMahoning	Federal	Plaza	BuildingYoungstown,	OHBusiness	Banking	Credit,	Bank	Operations,	Commercial	Banking64%üThe	major	properties	occupied	by	the	Company	are	used	across	all	of	the	business	segments	and	for	corporate	purposes.Item	3:	Legal	ProceedingsInformation	required	by	this	item	is	set	forth	in	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	under	the	caption	“Litigation	and	Regulatory	Matters”	and	is	incorporated	into	this	Item	by	reference.Item	4:	Mine	Safety	DisclosuresNot	applicable.44					Huntington	Bancshares	IncorporatedPART	IIItem	5:	Market	for	Registrant’s	Common	Equity,	Related	Shareholder	Matters	and	Issuer	Purchases	of	Equity	SecuritiesThe	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	the	Nasdaq	Global	Stock	Market	under	the	symbol	“HBAN”.		As	of	January	31,	2021,	we	had	27,384	shareholders	of	record.Information	regarding	restrictions	on	dividends,	as	required	by	this	Item,	is	set	forth	in	Item	1:	“Business	-	Regulatory	Matters”	and	in	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements	and	incorporated	into	this	Item	by	reference.The	following	graph	shows	the	changes,	over	the	five-year	period,	in	the	value	of	$100	invested	in	(i)	shares	of	Huntington’s	Common	Stock;	(ii)	the	Standard	&	Poor’s	500	Stock	Index	(the	S&P	500	Index)	and	(iii)	Keefe,	Bruyette	&	Woods	Bank	Index,	for	the	period	December	31,	2015,	through	December	31,	2020.		The	KBW	Bank	Index	is	a	market	capitalization-weighted	bank	stock	index	published	by	Keefe,	Bruyette	&	Woods.		The	index	is	composed	of	the	largest	banking	companies	and	includes	all	money	center	banks	and	regional	banks,	including	Huntington.		An	investment	of	$100	on	December	31,	2015,	and	the	reinvestment	of	all	dividends,	are	assumed.	The	plotted	points	represent	the	cumulative	total	return	on	the	last	trading	day	of	the	fiscal	year	indicated.	201520162017201820192020HBAN$100$123$139$118$155$138S&P	500100112136130171203KBW	Bank	Index1001291521251711532020	Form	10-K					45HBANS&P	500KBW	Bank	Index12/1512/1612/1712/1812/1912/20$75$100$125$150$175$200$225Item	2:	PropertiesOur	headquarters,	as	well	as	the	Bank’s,	is	located	in	the	Huntington	Center,	a	thirty-seven	story	office	building	located	in	Columbus,	Ohio.		Of	the	building’s	total	office	space	available,	we	lease	approximately	22%.		The	lease	term	expires	in	2030,	with	six	five-year	renewal	options	for	up	to	30	years	but	with	no	purchase	option.		The	Bank	has	an	indirect	minority	equity	interest	of	18%	in	the	building.Our	other	major	properties	consist	of	the	following:DescriptionLocationPrimary	Business	SegmentUtilization	of	Property	for	HBI	purposesOwnLeaseTower	Building	-	OfficeAkron,	OHRegional	Leadership,	Commercial	Banking,	Business	Banking,	Private	Client	Banking,	Trust,	Bank	Operations,	Retail	Bank	Branch57%üCascade	III	(own	building,	lease	land)Akron,	OHCompliance,	Consumer	&	Private	Bank	Technology,	Corporate	Sourcing,	Bank	Operations,	Indirect	Lending,	Information	Security	Services63%üüEaston	-	HNB	Business	Service	CenterColumbus,	OHBank	Operations,	Vehicle	Finance,	Business	Banking	Credit,	Technology,	Special	Assets,	Human	Resources80%üCapitol	SquareColumbus,	OHBank	Security,	Internal	Audit,	Risk	Administration,	Treasury	Management,	Retail	Bank	Branch63%üGateway	CenterColumbus,	OHBank	Operations,	Corporate	Sourcing,	Indirect	Loan,	Insurance,	Phone	Bank73%üHuntington	Center	(lease	a	portion	of	building)Columbus,	OHBank	Administration,	Private	Client	Group,	Commercial	Risk,	Treasury,	Finance,	Accounting,	Legal,	Marketing,	Human	Resources,	Tax76%üHuntington	PlazaColumbus,	OHBank	Operations,	Compliance,	HIC,	Human	Resources,	Insurance75%üIndianapolis	MainIndianapolis,	INRegional	Leadership,	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	HIC,	Trust,	Private	Client61%üDowntown	SaginawSaginaw,	MIRegional	Leadership,	Private	Banking,	Retail	Bank	Branch15%üMahoning	Federal	Plaza	BuildingYoungstown,	OHBusiness	Banking	Credit,	Bank	Operations,	Commercial	Banking64%üThe	major	properties	occupied	by	the	Company	are	used	across	all	of	the	business	segments	and	for	corporate	purposes.Item	3:	Legal	ProceedingsInformation	required	by	this	item	is	set	forth	in	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	under	the	caption	“Litigation	and	Regulatory	Matters”	and	is	incorporated	into	this	Item	by	reference.Item	4:	Mine	Safety	DisclosuresNot	applicable.44					Huntington	Bancshares	IncorporatedPART	IIItem	5:	Market	for	Registrant’s	Common	Equity,	Related	Shareholder	Matters	and	Issuer	Purchases	of	Equity	SecuritiesThe	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	the	Nasdaq	Global	Stock	Market	under	the	symbol	“HBAN”.		As	of	January	31,	2021,	we	had	27,384	shareholders	of	record.Information	regarding	restrictions	on	dividends,	as	required	by	this	Item,	is	set	forth	in	Item	1:	“Business	-	Regulatory	Matters”	and	in	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements	and	incorporated	into	this	Item	by	reference.The	following	graph	shows	the	changes,	over	the	five-year	period,	in	the	value	of	$100	invested	in	(i)	shares	of	Huntington’s	Common	Stock;	(ii)	the	Standard	&	Poor’s	500	Stock	Index	(the	S&P	500	Index)	and	(iii)	Keefe,	Bruyette	&	Woods	Bank	Index,	for	the	period	December	31,	2015,	through	December	31,	2020.		The	KBW	Bank	Index	is	a	market	capitalization-weighted	bank	stock	index	published	by	Keefe,	Bruyette	&	Woods.		The	index	is	composed	of	the	largest	banking	companies	and	includes	all	money	center	banks	and	regional	banks,	including	Huntington.		An	investment	of	$100	on	December	31,	2015,	and	the	reinvestment	of	all	dividends,	are	assumed.	The	plotted	points	represent	the	cumulative	total	return	on	the	last	trading	day	of	the	fiscal	year	indicated.	201520162017201820192020HBAN$100$123$139$118$155$138S&P	500100112136130171203KBW	Bank	Index1001291521251711532020	Form	10-K					45HBANS&P	500KBW	Bank	Index12/1512/1612/1712/1812/1912/20$75$100$125$150$175$200$225Item	2:	PropertiesOur	headquarters,	as	well	as	the	Bank’s,	is	located	in	the	Huntington	Center,	a	thirty-seven	story	office	building	located	in	Columbus,	Ohio.		Of	the	building’s	total	office	space	available,	we	lease	approximately	22%.		The	lease	term	expires	in	2030,	with	six	five-year	renewal	options	for	up	to	30	years	but	with	no	purchase	option.		The	Bank	has	an	indirect	minority	equity	interest	of	18%	in	the	building.Our	other	major	properties	consist	of	the	following:DescriptionLocationPrimary	Business	SegmentUtilization	of	Property	for	HBI	purposesOwnLeaseTower	Building	-	OfficeAkron,	OHRegional	Leadership,	Commercial	Banking,	Business	Banking,	Private	Client	Banking,	Trust,	Bank	Operations,	Retail	Bank	Branch57%üCascade	III	(own	building,	lease	land)Akron,	OHCompliance,	Consumer	&	Private	Bank	Technology,	Corporate	Sourcing,	Bank	Operations,	Indirect	Lending,	Information	Security	Services63%üüEaston	-	HNB	Business	Service	CenterColumbus,	OHBank	Operations,	Vehicle	Finance,	Business	Banking	Credit,	Technology,	Special	Assets,	Human	Resources80%üCapitol	SquareColumbus,	OHBank	Security,	Internal	Audit,	Risk	Administration,	Treasury	Management,	Retail	Bank	Branch63%üGateway	CenterColumbus,	OHBank	Operations,	Corporate	Sourcing,	Indirect	Loan,	Insurance,	Phone	Bank73%üHuntington	Center	(lease	a	portion	of	building)Columbus,	OHBank	Administration,	Private	Client	Group,	Commercial	Risk,	Treasury,	Finance,	Accounting,	Legal,	Marketing,	Human	Resources,	Tax76%üHuntington	PlazaColumbus,	OHBank	Operations,	Compliance,	HIC,	Human	Resources,	Insurance75%üIndianapolis	MainIndianapolis,	INRegional	Leadership,	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	HIC,	Trust,	Private	Client61%üDowntown	SaginawSaginaw,	MIRegional	Leadership,	Private	Banking,	Retail	Bank	Branch15%üMahoning	Federal	Plaza	BuildingYoungstown,	OHBusiness	Banking	Credit,	Bank	Operations,	Commercial	Banking64%üThe	major	properties	occupied	by	the	Company	are	used	across	all	of	the	business	segments	and	for	corporate	purposes.Item	3:	Legal	ProceedingsInformation	required	by	this	item	is	set	forth	in	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	under	the	caption	“Litigation	and	Regulatory	Matters”	and	is	incorporated	into	this	Item	by	reference.Item	4:	Mine	Safety	DisclosuresNot	applicable.44					Huntington	Bancshares	IncorporatedPART	IIItem	5:	Market	for	Registrant’s	Common	Equity,	Related	Shareholder	Matters	and	Issuer	Purchases	of	Equity	SecuritiesThe	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	the	Nasdaq	Global	Stock	Market	under	the	symbol	“HBAN”.		As	of	January	31,	2021,	we	had	27,384	shareholders	of	record.Information	regarding	restrictions	on	dividends,	as	required	by	this	Item,	is	set	forth	in	Item	1:	“Business	-	Regulatory	Matters”	and	in	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements	and	incorporated	into	this	Item	by	reference.The	following	graph	shows	the	changes,	over	the	five-year	period,	in	the	value	of	$100	invested	in	(i)	shares	of	Huntington’s	Common	Stock;	(ii)	the	Standard	&	Poor’s	500	Stock	Index	(the	S&P	500	Index)	and	(iii)	Keefe,	Bruyette	&	Woods	Bank	Index,	for	the	period	December	31,	2015,	through	December	31,	2020.		The	KBW	Bank	Index	is	a	market	capitalization-weighted	bank	stock	index	published	by	Keefe,	Bruyette	&	Woods.		The	index	is	composed	of	the	largest	banking	companies	and	includes	all	money	center	banks	and	regional	banks,	including	Huntington.		An	investment	of	$100	on	December	31,	2015,	and	the	reinvestment	of	all	dividends,	are	assumed.	The	plotted	points	represent	the	cumulative	total	return	on	the	last	trading	day	of	the	fiscal	year	indicated.	201520162017201820192020HBAN$100$123$139$118$155$138S&P	500100112136130171203KBW	Bank	Index1001291521251711532020	Form	10-K					45HBANS&P	500KBW	Bank	Index12/1512/1612/1712/1812/1912/20$75$100$125$150$175$200$225For	information	regarding	securities	authorized	for	issuance	under	Huntington’s	equity	compensation	plans,	see	Part	III,	Item	12.	The	following	table	provides	information	regarding	Huntington’s	purchases	of	its	Common	Stock	during	the	three-month	period	ended	December	31,	2020.PeriodTotal	Numberof	SharesPurchased	(1)AveragePrice	PaidPer	ShareMaximum	Number	of	Shares	(orApproximate	Dollar	Value)	thatMay	Yet	Be	Purchased	Underthe	Plans	or	Programs	(2)October	1,	2020	to	October	31,	2020	—		—		—	November	1,	2020	to	November	30,	2020	415,488		11.13		—	December	1,	2020	to	December	31,	2020	—		—		—	Total	415,488	$	11.13	$	—	(1)The	reported	shares	were	repurchased	pursuant	to	Huntington’s	publicly-announced	share	repurchase	authorization.(2)The	number	shown	represents,	as	of	the	end	of	each	period,	the	approximate	dollar	value	of	Common	Stock	that	may	yet	be	purchased	under	publicly-announced	share	repurchase	authorizations.	The	shares	may	be	purchased,	from	time-to-time,	depending	on	market	conditions.The	Board	authorized	the	repurchase	of	common	shares	during	the	2020	fourth	quarter	to	offset	compensation	plan-related	share	issuances	as	permitted	by	the	Federal	Reserve	Board.		Huntington	may,	at	its	discretion,	repurchase	common	shares	as	permitted	by	this	Board	authorization.		Purchases	of	common	shares	under	the	authorization	may	include	open	market	purchases,	privately	negotiated	transactions,	and	accelerated	share	repurchase	programs.	46					Huntington	Bancshares	IncorporatedItem	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	OperationsINTRODUCTIONThis	MD&A	provides	information	we	believe	necessary	for	understanding	our	financial	condition,	changes	in	financial	condition,	results	of	operations,	and	cash	flows.		The	MD&A	should	be	read	in	conjunction	with	the	Consolidated	Financial	Statements,	Notes	to	Consolidated	Financial	Statements,	and	other	information	contained	in	this	report.		The	forward-looking	statements	in	this	section	and	other	parts	of	this	report	involve	assumptions,	risks,	uncertainties,	and	other	factors,	including	statements	regarding	our	plans,	objectives,	goals,	strategies,	and	financial	performance.		Our	actual	results	could	differ	materially	from	the	results	anticipated	in	these	forward-looking	statements	as	a	result	of	factors	set	forth	under	the	caption	“Forward-Looking	Statements”	and	those	set	forth	in	Item	1A.EXECUTIVE	OVERVIEW2020	Financial	Performance	ReviewIn	2020,	we	reported	net	income	of	$817	million,	a	42%	decrease	from	the	prior	year.		Earnings	per	common	share	on	a	diluted	basis	for	the	year	were	$0.69,	down	46%	from	the	prior	year.	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		This	reflected	the	impact	of	9%	average	earning	asset	growth	and	a	4%	growth	of	average	interest-bearing	liabilities.		FTE	net	interest	margin	decreased	27	basis	points	to	2.99%.		Average	earning	asset	growth	reflects	a	$4.4	billion,	or	6%,	increase	in	average	loans	and	leases.		The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a		79	basis	point	decrease	in	average	funding	costs.The	provision	for	credit	losses	was	$1.0	billion,	up	$761	million,	or	265%.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Among	the	primary	drivers,		mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Offsetting	this	increase,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	pandemic-related	fee	waivers	and	other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	include	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business,	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Contributing	to	the	increase,	personnel	costs	were	up	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Offsetting	these	increases,	other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	lower	travel	and	business	development	expenses	partially	offset	by	an	increase	in	the	contribution	to	the	Columbus	Foundation.2020	Form	10-K					47$	$	For	information	regarding	securities	authorized	for	issuance	under	Huntington’s	equity	compensation	plans,	see	Part	III,	Item	12.	The	following	table	provides	information	regarding	Huntington’s	purchases	of	its	Common	Stock	during	the	three-month	period	ended	December	31,	2020.PeriodTotal	Numberof	SharesPurchased	(1)AveragePrice	PaidPer	ShareMaximum	Number	of	Shares	(orApproximate	Dollar	Value)	thatMay	Yet	Be	Purchased	Underthe	Plans	or	Programs	(2)October	1,	2020	to	October	31,	2020	—		—		—	November	1,	2020	to	November	30,	2020	415,488		11.13		—	December	1,	2020	to	December	31,	2020	—		—		—	Total	415,488	$	11.13	$	—	(1)The	reported	shares	were	repurchased	pursuant	to	Huntington’s	publicly-announced	share	repurchase	authorization.(2)The	number	shown	represents,	as	of	the	end	of	each	period,	the	approximate	dollar	value	of	Common	Stock	that	may	yet	be	purchased	under	publicly-announced	share	repurchase	authorizations.	The	shares	may	be	purchased,	from	time-to-time,	depending	on	market	conditions.The	Board	authorized	the	repurchase	of	common	shares	during	the	2020	fourth	quarter	to	offset	compensation	plan-related	share	issuances	as	permitted	by	the	Federal	Reserve	Board.		Huntington	may,	at	its	discretion,	repurchase	common	shares	as	permitted	by	this	Board	authorization.		Purchases	of	common	shares	under	the	authorization	may	include	open	market	purchases,	privately	negotiated	transactions,	and	accelerated	share	repurchase	programs.	46					Huntington	Bancshares	IncorporatedItem	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	OperationsINTRODUCTIONThis	MD&A	provides	information	we	believe	necessary	for	understanding	our	financial	condition,	changes	in	financial	condition,	results	of	operations,	and	cash	flows.		The	MD&A	should	be	read	in	conjunction	with	the	Consolidated	Financial	Statements,	Notes	to	Consolidated	Financial	Statements,	and	other	information	contained	in	this	report.		The	forward-looking	statements	in	this	section	and	other	parts	of	this	report	involve	assumptions,	risks,	uncertainties,	and	other	factors,	including	statements	regarding	our	plans,	objectives,	goals,	strategies,	and	financial	performance.		Our	actual	results	could	differ	materially	from	the	results	anticipated	in	these	forward-looking	statements	as	a	result	of	factors	set	forth	under	the	caption	“Forward-Looking	Statements”	and	those	set	forth	in	Item	1A.EXECUTIVE	OVERVIEW2020	Financial	Performance	ReviewIn	2020,	we	reported	net	income	of	$817	million,	a	42%	decrease	from	the	prior	year.		Earnings	per	common	share	on	a	diluted	basis	for	the	year	were	$0.69,	down	46%	from	the	prior	year.	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		This	reflected	the	impact	of	9%	average	earning	asset	growth	and	a	4%	growth	of	average	interest-bearing	liabilities.		FTE	net	interest	margin	decreased	27	basis	points	to	2.99%.		Average	earning	asset	growth	reflects	a	$4.4	billion,	or	6%,	increase	in	average	loans	and	leases.		The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a		79	basis	point	decrease	in	average	funding	costs.The	provision	for	credit	losses	was	$1.0	billion,	up	$761	million,	or	265%.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Among	the	primary	drivers,		mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Offsetting	this	increase,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	pandemic-related	fee	waivers	and	other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	include	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business,	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Contributing	to	the	increase,	personnel	costs	were	up	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Offsetting	these	increases,	other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	lower	travel	and	business	development	expenses	partially	offset	by	an	increase	in	the	contribution	to	the	Columbus	Foundation.2020	Form	10-K					47For	information	regarding	securities	authorized	for	issuance	under	Huntington’s	equity	compensation	plans,	see	Part	III,	Item	12.	The	following	table	provides	information	regarding	Huntington’s	purchases	of	its	Common	Stock	during	the	three-month	period	ended	December	31,	2020.PeriodTotal	Numberof	SharesPurchased	(1)AveragePrice	PaidPer	ShareMaximum	Number	of	Shares	(orApproximate	Dollar	Value)	thatMay	Yet	Be	Purchased	Underthe	Plans	or	Programs	(2)October	1,	2020	to	October	31,	2020	—		—		—	November	1,	2020	to	November	30,	2020	415,488		11.13		—	December	1,	2020	to	December	31,	2020	—		—		—	Total	415,488	$	11.13	$	—	(1)The	reported	shares	were	repurchased	pursuant	to	Huntington’s	publicly-announced	share	repurchase	authorization.(2)The	number	shown	represents,	as	of	the	end	of	each	period,	the	approximate	dollar	value	of	Common	Stock	that	may	yet	be	purchased	under	publicly-announced	share	repurchase	authorizations.	The	shares	may	be	purchased,	from	time-to-time,	depending	on	market	conditions.The	Board	authorized	the	repurchase	of	common	shares	during	the	2020	fourth	quarter	to	offset	compensation	plan-related	share	issuances	as	permitted	by	the	Federal	Reserve	Board.		Huntington	may,	at	its	discretion,	repurchase	common	shares	as	permitted	by	this	Board	authorization.		Purchases	of	common	shares	under	the	authorization	may	include	open	market	purchases,	privately	negotiated	transactions,	and	accelerated	share	repurchase	programs.	46					Huntington	Bancshares	IncorporatedItem	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	OperationsINTRODUCTIONThis	MD&A	provides	information	we	believe	necessary	for	understanding	our	financial	condition,	changes	in	financial	condition,	results	of	operations,	and	cash	flows.		The	MD&A	should	be	read	in	conjunction	with	the	Consolidated	Financial	Statements,	Notes	to	Consolidated	Financial	Statements,	and	other	information	contained	in	this	report.		The	forward-looking	statements	in	this	section	and	other	parts	of	this	report	involve	assumptions,	risks,	uncertainties,	and	other	factors,	including	statements	regarding	our	plans,	objectives,	goals,	strategies,	and	financial	performance.		Our	actual	results	could	differ	materially	from	the	results	anticipated	in	these	forward-looking	statements	as	a	result	of	factors	set	forth	under	the	caption	“Forward-Looking	Statements”	and	those	set	forth	in	Item	1A.EXECUTIVE	OVERVIEW2020	Financial	Performance	ReviewIn	2020,	we	reported	net	income	of	$817	million,	a	42%	decrease	from	the	prior	year.		Earnings	per	common	share	on	a	diluted	basis	for	the	year	were	$0.69,	down	46%	from	the	prior	year.	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		This	reflected	the	impact	of	9%	average	earning	asset	growth	and	a	4%	growth	of	average	interest-bearing	liabilities.		FTE	net	interest	margin	decreased	27	basis	points	to	2.99%.		Average	earning	asset	growth	reflects	a	$4.4	billion,	or	6%,	increase	in	average	loans	and	leases.		The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a		79	basis	point	decrease	in	average	funding	costs.The	provision	for	credit	losses	was	$1.0	billion,	up	$761	million,	or	265%.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Among	the	primary	drivers,		mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Offsetting	this	increase,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	pandemic-related	fee	waivers	and	other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	include	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business,	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Contributing	to	the	increase,	personnel	costs	were	up	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Offsetting	these	increases,	other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	lower	travel	and	business	development	expenses	partially	offset	by	an	increase	in	the	contribution	to	the	Columbus	Foundation.2020	Form	10-K					47$	$	For	information	regarding	securities	authorized	for	issuance	under	Huntington’s	equity	compensation	plans,	see	Part	III,	Item	12.	The	following	table	provides	information	regarding	Huntington’s	purchases	of	its	Common	Stock	during	the	three-month	period	ended	December	31,	2020.PeriodTotal	Numberof	SharesPurchased	(1)AveragePrice	PaidPer	ShareMaximum	Number	of	Shares	(orApproximate	Dollar	Value)	thatMay	Yet	Be	Purchased	Underthe	Plans	or	Programs	(2)October	1,	2020	to	October	31,	2020	—		—		—	November	1,	2020	to	November	30,	2020	415,488		11.13		—	December	1,	2020	to	December	31,	2020	—		—		—	Total	415,488	$	11.13	$	—	(1)The	reported	shares	were	repurchased	pursuant	to	Huntington’s	publicly-announced	share	repurchase	authorization.(2)The	number	shown	represents,	as	of	the	end	of	each	period,	the	approximate	dollar	value	of	Common	Stock	that	may	yet	be	purchased	under	publicly-announced	share	repurchase	authorizations.	The	shares	may	be	purchased,	from	time-to-time,	depending	on	market	conditions.The	Board	authorized	the	repurchase	of	common	shares	during	the	2020	fourth	quarter	to	offset	compensation	plan-related	share	issuances	as	permitted	by	the	Federal	Reserve	Board.		Huntington	may,	at	its	discretion,	repurchase	common	shares	as	permitted	by	this	Board	authorization.		Purchases	of	common	shares	under	the	authorization	may	include	open	market	purchases,	privately	negotiated	transactions,	and	accelerated	share	repurchase	programs.	46					Huntington	Bancshares	IncorporatedItem	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	OperationsINTRODUCTIONThis	MD&A	provides	information	we	believe	necessary	for	understanding	our	financial	condition,	changes	in	financial	condition,	results	of	operations,	and	cash	flows.		The	MD&A	should	be	read	in	conjunction	with	the	Consolidated	Financial	Statements,	Notes	to	Consolidated	Financial	Statements,	and	other	information	contained	in	this	report.		The	forward-looking	statements	in	this	section	and	other	parts	of	this	report	involve	assumptions,	risks,	uncertainties,	and	other	factors,	including	statements	regarding	our	plans,	objectives,	goals,	strategies,	and	financial	performance.		Our	actual	results	could	differ	materially	from	the	results	anticipated	in	these	forward-looking	statements	as	a	result	of	factors	set	forth	under	the	caption	“Forward-Looking	Statements”	and	those	set	forth	in	Item	1A.EXECUTIVE	OVERVIEW2020	Financial	Performance	ReviewIn	2020,	we	reported	net	income	of	$817	million,	a	42%	decrease	from	the	prior	year.		Earnings	per	common	share	on	a	diluted	basis	for	the	year	were	$0.69,	down	46%	from	the	prior	year.	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		This	reflected	the	impact	of	9%	average	earning	asset	growth	and	a	4%	growth	of	average	interest-bearing	liabilities.		FTE	net	interest	margin	decreased	27	basis	points	to	2.99%.		Average	earning	asset	growth	reflects	a	$4.4	billion,	or	6%,	increase	in	average	loans	and	leases.		The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a		79	basis	point	decrease	in	average	funding	costs.The	provision	for	credit	losses	was	$1.0	billion,	up	$761	million,	or	265%.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Among	the	primary	drivers,		mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Offsetting	this	increase,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	pandemic-related	fee	waivers	and	other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	include	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business,	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Contributing	to	the	increase,	personnel	costs	were	up	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Offsetting	these	increases,	other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	lower	travel	and	business	development	expenses	partially	offset	by	an	increase	in	the	contribution	to	the	Columbus	Foundation.2020	Form	10-K					47The	tangible	common	equity	to	tangible	assets	ratio	was	7.16%,	down	72	basis	points.		The	regulatory	Common	
The	tangible	common	equity	to	tangible	assets	ratio	was	7.16%,	down	72	basis	points.		The	regulatory	Common	
Equity	Tier	1	(CET1)	risk-based	capital	ratio	was	10.00%,	up	12	basis	points.		The	regulatory	Tier	1	risk-based	capital	
Equity	Tier	1	(CET1)	risk-based	capital	ratio	was	10.00%,	up	12	basis	points.		The	regulatory	Tier	1	risk-based	capital	
ratio	was	12.47%,	up	121	basis	points.	The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	
ratio	was	12.47%,	up	121	basis	points.	The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	
offset	by	a	change	in	asset	mix	during	2020	related	to	the	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	
offset	by	a	change	in	asset	mix	during	2020	related	to	the	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	
both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition	was	largely	
both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition	was	largely	
offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	
offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	
quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	ratio	also	reflects	the	issuance	of	$500	million	
quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	ratio	also	reflects	the	issuance	of	$500	million	
of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	
of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	
respectively.
respectively.

Business	Overview
Business	Overview

General
General

Our	general	business	objectives	are:	
Our	general	business	objectives	are:	

•
•
•
•
•
•
•
•
•
•

Consistent	organic	revenue	and	balance	sheet	growth.	
Consistent	organic	revenue	and	balance	sheet	growth.	
Invest	in	our	businesses,	particularly	technology	and	risk	management.	
Invest	in	our	businesses,	particularly	technology	and	risk	management.	
Deliver	positive	long-term	operating	leverage.
Deliver	positive	long-term	operating	leverage.
Maintain	aggregate	moderate-to-low	risk	appetite.	
Maintain	aggregate	moderate-to-low	risk	appetite.	
Disciplined	capital	management.
Disciplined	capital	management.

COVID-19	
COVID-19	

The	COVID-19	pandemic	has	caused	and	continues	to	cause	significant,	unprecedented	disruption	that	affects	
The	COVID-19	pandemic	has	caused	and	continues	to	cause	significant,	unprecedented	disruption	that	affects	
daily	living	and	negatively	impacts	the	global	economy.		The	pandemic	has	resulted	in	temporary	closures	of	many	
daily	living	and	negatively	impacts	the	global	economy.		The	pandemic	has	resulted	in	temporary	closures	of	many	
businesses	and	the	institution	of	social	distancing	and	shelter	in	place	requirements	in	many	states	and	
businesses	and	the	institution	of	social	distancing	and	shelter	in	place	requirements	in	many	states	and	
communities,	increasing	unemployment	levels	and	causing	volatility	in	the	financial	markets.		As	further	discussed	in	
communities,	increasing	unemployment	levels	and	causing	volatility	in	the	financial	markets.		As	further	discussed	in	
“Discussion	of	Results	of	Operations,”	the	reduction	in	interest	rates,	borrower	and	counterparty	credit	
“Discussion	of	Results	of	Operations,”	the	reduction	in	interest	rates,	borrower	and	counterparty	credit	
deterioration	and	market	volatility,	among	other	factors,	impacted	our	2020	performance.		Though	we	are	unable	to	
deterioration	and	market	volatility,	among	other	factors,	impacted	our	2020	performance.		Though	we	are	unable	to	
estimate	the	magnitude,	we	expect	the	pandemic	and	related	global	economic	crisis	will	adversely	affect	our	future	
estimate	the	magnitude,	we	expect	the	pandemic	and	related	global	economic	crisis	will	adversely	affect	our	future	
operating	results.		
operating	results.		

Huntington	was	able	to	react	quickly	to	these	changes	because	of	the	commitment	and	flexibility	of	its	
Huntington	was	able	to	react	quickly	to	these	changes	because	of	the	commitment	and	flexibility	of	its	
workforce	coupled	with	well-prepared	business	continuity	plans.		To	ensure	the	safety	of	our	branch	colleagues,	
workforce	coupled	with	well-prepared	business	continuity	plans.		To	ensure	the	safety	of	our	branch	colleagues,	
while	still	meeting	the	needs	of	our	customers,	we	moved	to	the	use	of	branches	with	drive-thru	only,	with	in-
while	still	meeting	the	needs	of	our	customers,	we	moved	to	the	use	of	branches	with	drive-thru	only,	with	in-
person	meetings	by	appointment	during	shelter-in-place	orders.		For	other	colleagues,	we	have	implemented	a	
person	meetings	by	appointment	during	shelter-in-place	orders.		For	other	colleagues,	we	have	implemented	a	
work-from-home	approach	with	increased	communication	to	keep	them	informed,	engaged,	productive	and	
work-from-home	approach	with	increased	communication	to	keep	them	informed,	engaged,	productive	and	
connected.		Additional	benefits	have	been	provided,	including	medical,	emergency	paid	time	off	and	other	programs	
connected.		Additional	benefits	have	been	provided,	including	medical,	emergency	paid	time	off	and	other	programs	
for	those	whose	families	have	been	directly	impacted	by	the	virus.		While	state	and	local	governments	have	partially	
for	those	whose	families	have	been	directly	impacted	by	the	virus.		While	state	and	local	governments	have	partially	
eased	temporary	business	closures	and	shelter	in	place	requirements	and	we	have	opened	our	branches,	we	expect	
eased	temporary	business	closures	and	shelter	in	place	requirements	and	we	have	opened	our	branches,	we	expect	
our	colleagues	who	have	been	operating	remotely	to	continue	for	some	period	of	time.		While	vaccines	have	been	
our	colleagues	who	have	been	operating	remotely	to	continue	for	some	period	of	time.		While	vaccines	have	been	
approved	and	are	being	administered	throughout	our	footprint,	it	remains	unknown	when,	or	if,	there	will	be	a	
approved	and	are	being	administered	throughout	our	footprint,	it	remains	unknown	when,	or	if,	there	will	be	a	
return	to	historical	normal	economic	and	social	activity.
return	to	historical	normal	economic	and	social	activity.

For	our	customers,	we	have	established	a	variety	of	temporary	relief	programs	which	include	loan	payment	
For	our	customers,	we	have	established	a	variety	of	temporary	relief	programs	which	include	loan	payment	
deferrals,	late	fee	and	overdraft	waivers	and	the	suspension	of	foreclosure	and	repossessions.		We	continue	to	work	
deferrals,	late	fee	and	overdraft	waivers	and	the	suspension	of	foreclosure	and	repossessions.		We	continue	to	work	
with	our	customers	to	originate	and	renew	business	loans	as	well	as	originated	loans	made	available	through	the	
with	our	customers	to	originate	and	renew	business	loans	as	well	as	originated	loans	made	available	through	the	
initial	Small	Business	Administration	Paycheck	Protection	Program,	a	lending	program	established	as	part	of	the	
initial	Small	Business	Administration	Paycheck	Protection	Program,	a	lending	program	established	as	part	of	the	
relief	to	American	consumers	and	businesses	in	the	Coronavirus	Aid,	Relief,	and	Economic	Security	Act	(“CARES	
relief	to	American	consumers	and	businesses	in	the	Coronavirus	Aid,	Relief,	and	Economic	Security	Act	(“CARES	
Act”).		The	Economic	Aid	to	Hard-Hit	Small	Businesses,	Nonprofits,	and	Venues	Act	(“Economic	Aid	Act”)	reopens	and	
Act”).		The	Economic	Aid	to	Hard-Hit	Small	Businesses,	Nonprofits,	and	Venues	Act	(“Economic	Aid	Act”)	reopens	and	
extends	the	PPP	loan	program.		As	of	February	19,	2021,	we	have	processed	approximately	16,000	applications	
extends	the	PPP	loan	program.		As	of	February	19,	2021,	we	have	processed	approximately	16,000	applications	
totaling	$1.8	billion	under	the	reopened	program.		
totaling	$1.8	billion	under	the	reopened	program.		

CARES	Act	
CARES	Act	

The	CARES	Act	was	passed	by	Congress	and	signed	into	law	on	March	27,	2020.		It	provides	for	financial	stimulus	
The	CARES	Act	was	passed	by	Congress	and	signed	into	law	on	March	27,	2020.		It	provides	for	financial	stimulus	

and	government	lending	programs	at	unprecedented	levels.		The	benefits	of	these	programs	within	the	economy	
and	government	lending	programs	at	unprecedented	levels.		The	benefits	of	these	programs	within	the	economy	
remain	uncertain.		The	CARES	Act	includes	a	total	allocation	of	$659	billion	for	loans	to	be	issued	by	financial	
remain	uncertain.		The	CARES	Act	includes	a	total	allocation	of	$659	billion	for	loans	to	be	issued	by	financial	
institutions	through	the	SBA.		This	program	is	known	as	the	PPP.		PPP	loans	are	forgivable,	in	whole	or	in	part,	if	the	
institutions	through	the	SBA.		This	program	is	known	as	the	PPP.		PPP	loans	are	forgivable,	in	whole	or	in	part,	if	the	

proceeds	are	used	for	payroll	and	other	permitted	purposes	in	accordance	with	the	requirements	of	the	PPP.		These	

proceeds	are	used	for	payroll	and	other	permitted	purposes	in	accordance	with	the	requirements	of	the	PPP.		These	

loans	carry	a	fixed	rate	of	1.00%	and	terms	of	two	or	five	years,	if	not	forgiven,	in	whole	or	in	part.			The	loans	also	

loans	carry	a	fixed	rate	of	1.00%	and	terms	of	two	or	five	years,	if	not	forgiven,	in	whole	or	in	part.			The	loans	also	

require	deferral	of	principal	and	interest	repayment.	The	loans	are	100%	guaranteed	by	the	SBA.		The	SBA	pays	the	

require	deferral	of	principal	and	interest	repayment.	The	loans	are	100%	guaranteed	by	the	SBA.		The	SBA	pays	the	

originating	bank	a	processing	fee	ranging	from	1%	to	5%,	based	on	the	size	of	the	loan.		In	addition,	the	FRB	has	

originating	bank	a	processing	fee	ranging	from	1%	to	5%,	based	on	the	size	of	the	loan.		In	addition,	the	FRB	has	

implemented	a	liquidity	facility	available	to	financial	institutions	participating	in	the	PPP	(“PPPLF”).		In	conjunction	

implemented	a	liquidity	facility	available	to	financial	institutions	participating	in	the	PPP	(“PPPLF”).		In	conjunction	

with	the	PPP,	the	PPPLF	will	allow	the	Federal	Reserve	Banks	to	lend	to	member	banks	on	a	non-recourse	basis	with	

with	the	PPP,	the	PPPLF	will	allow	the	Federal	Reserve	Banks	to	lend	to	member	banks	on	a	non-recourse	basis	with	

PPP	loans	as	collateral.		

PPP	loans	as	collateral.		

Additionally,	the	CARES	Act	provides	for	relief	on	existing	and	new	SBA	loans	through	Small	Business	Debt	Relief.		

Additionally,	the	CARES	Act	provides	for	relief	on	existing	and	new	SBA	loans	through	Small	Business	Debt	Relief.		

As	part	of	the	SBA	Small	Business	Debt	Relief,	the	SBA	will	automatically	pay	principal,	interest	and	fees	of	certain	

As	part	of	the	SBA	Small	Business	Debt	Relief,	the	SBA	will	automatically	pay	principal,	interest	and	fees	of	certain	

SBA	loans	for	a	period	of	six	months	for	both	existing	loans	and	new	loans	issued	prior	to	September	27,	2020.		To	

SBA	loans	for	a	period	of	six	months	for	both	existing	loans	and	new	loans	issued	prior	to	September	27,	2020.		To	

aid	small-	and	medium-sized	businesses	across	our	footprint	in	2020,	we	funded	more	than	38,000	loans	in	the	

aid	small-	and	medium-sized	businesses	across	our	footprint	in	2020,	we	funded	more	than	38,000	loans	in	the	

amount	of	$6.6	billion	through	the	SBA’s	PPP.		As	of	December	31,	2020,	we	have	an	outstanding	PPP	loan	balance	

amount	of	$6.6	billion	through	the	SBA’s	PPP.		As	of	December	31,	2020,	we	have	an	outstanding	PPP	loan	balance	

of	$6.1	billion	and	have	received	PPP	forgiveness	payments	of	$225	million	from	the	SBA.		Between	January	1,	2021	

of	$6.1	billion	and	have	received	PPP	forgiveness	payments	of	$225	million	from	the	SBA.		Between	January	1,	2021	

and	February	19,	2021,	we	have	received	PPP	forgiveness	payments	of	an	additional	$1.2	billion	from	the	SBA.

and	February	19,	2021,	we	have	received	PPP	forgiveness	payments	of	an	additional	$1.2	billion	from	the	SBA.

The	CARES	Act	also	provides	for	Mortgage	Payment	Relief	and	a	foreclosure	moratorium.		Refer	to	the	“Credit	

The	CARES	Act	also	provides	for	Mortgage	Payment	Relief	and	a	foreclosure	moratorium.		Refer	to	the	“Credit	

Risk”	section	for	additional	details	on	customer	relief.

Risk”	section	for	additional	details	on	customer	relief.

Economic	Aid	Act

Economic	Aid	Act

The	Economic	Aid	Act	became	law	on	December	27,	2020.		The	Act	reopens	and	expands	the	PPP	loan	program	

The	Economic	Aid	Act	became	law	on	December	27,	2020.		The	Act	reopens	and	expands	the	PPP	loan	program	

through	March	31,	2021.		The	changes	to	the	PPP	program	allow	new	borrowers	to	apply	for	a	loan	under	the	

through	March	31,	2021.		The	changes	to	the	PPP	program	allow	new	borrowers	to	apply	for	a	loan	under	the	

original	PPP	loan	program	(“First	Draw	Loan”)	and	the	creation	of	an	additional	PPP	loan	for	eligible	borrowers	

original	PPP	loan	program	(“First	Draw	Loan”)	and	the	creation	of	an	additional	PPP	loan	for	eligible	borrowers	

(“Second	Draw	Loan”).		The	Economic	Aid	Act	also	revises	certain	PPP	requirements,	including	aspects	of	loan	

(“Second	Draw	Loan”).		The	Economic	Aid	Act	also	revises	certain	PPP	requirements,	including	aspects	of	loan	

forgiveness	on	existing	PPP	loans.		

forgiveness	on	existing	PPP	loans.		

Federal	Reserve	Board	Actions

Federal	Reserve	Board	Actions

The	FRB	has	taken	a	range	of	actions	to	support	the	flow	of	credit	to	households	and	businesses.	For	example,	

The	FRB	has	taken	a	range	of	actions	to	support	the	flow	of	credit	to	households	and	businesses.	For	example,	

on	March	15,	2020,	the	FRB	reduced	the	target	range	for	the	federal	funds	rate	to	0	to	0.25%	and	announced	that	it	

on	March	15,	2020,	the	FRB	reduced	the	target	range	for	the	federal	funds	rate	to	0	to	0.25%	and	announced	that	it	

would	increase	its	holdings	of	U.S.	Treasury	securities	and	agency	mortgage-backed	securities	and	begin	purchasing	

would	increase	its	holdings	of	U.S.	Treasury	securities	and	agency	mortgage-backed	securities	and	begin	purchasing	

agency	commercial	mortgage-backed	securities.		The	FRB	has	also	encouraged	depository	institutions	to	borrow	

agency	commercial	mortgage-backed	securities.		The	FRB	has	also	encouraged	depository	institutions	to	borrow	

from	the	discount	window	and	has	lowered	the	primary	credit	rate	for	such	borrowing	by	150	basis	points	while	

from	the	discount	window	and	has	lowered	the	primary	credit	rate	for	such	borrowing	by	150	basis	points	while	

extending	the	term	of	such	loans	up	to	90	days.		Reserve	requirements	have	been	reduced	to	zero	as	of	March	26,	

extending	the	term	of	such	loans	up	to	90	days.		Reserve	requirements	have	been	reduced	to	zero	as	of	March	26,	

The	FRB	has	established,	or	has	taken	steps	to	establish,	a	range	of	facilities	and	programs	to	support	the	U.S.	

The	FRB	has	established,	or	has	taken	steps	to	establish,	a	range	of	facilities	and	programs	to	support	the	U.S.	

economy	and	U.S.	marketplace	participants	in	response	to	economic	disruptions	associated	with	COVID-19,	

economy	and	U.S.	marketplace	participants	in	response	to	economic	disruptions	associated	with	COVID-19,	

including	among	others,	Main	Street	Lending	facilities	to	purchase	loan	participations,	under	specified	conditions,	

including	among	others,	Main	Street	Lending	facilities	to	purchase	loan	participations,	under	specified	conditions,	

from	banks	lending	to	small	and	medium	U.S.	businesses.		During	2020,	we	participated	in	the	Main	Street	Lending	

from	banks	lending	to	small	and	medium	U.S.	businesses.		During	2020,	we	participated	in	the	Main	Street	Lending	

program	originating	$117	million	of	loans	under	these	facilities.	

program	originating	$117	million	of	loans	under	these	facilities.	

2020.

2020.

Economy	

Economy	

Our	2020	results	reflect	strong	execution	across	the	bank	given	the	pandemic	and	economic	challenges	faced	by	

Our	2020	results	reflect	strong	execution	across	the	bank	given	the	pandemic	and	economic	challenges	faced	by	

our	customers,	colleagues,	communities	and	the	country.		We	proactively	managed	through	the	continued	low	

our	customers,	colleagues,	communities	and	the	country.		We	proactively	managed	through	the	continued	low	

interest	rate	environment	and	unprecedented	economic	volatility	experienced	in	the	wake	of	the	pandemic.		The	

interest	rate	environment	and	unprecedented	economic	volatility	experienced	in	the	wake	of	the	pandemic.		The	

economy	in	our	footprint	continues	to	strengthen	as	demonstrated	by	the	strong	close	to	the	year	in	commercial	

economy	in	our	footprint	continues	to	strengthen	as	demonstrated	by	the	strong	close	to	the	year	in	commercial	

lending	and	our	increasing	loan	pipelines.		Additionally,	many	of	the	key	economic	indicators	in	the	region	such	as	

lending	and	our	increasing	loan	pipelines.		Additionally,	many	of	the	key	economic	indicators	in	the	region	such	as	

unemployment	rate,	consumer	confidence	and	consumer	retail	spending,	are	recovering	more	quickly	than	the	

unemployment	rate,	consumer	confidence	and	consumer	retail	spending,	are	recovering	more	quickly	than	the	

nation	as	a	whole.		We	believe	that	Huntington	enters	2021	with	strong	momentum.		We	are	positioned	to	advance	

nation	as	a	whole.		We	believe	that	Huntington	enters	2021	with	strong	momentum.		We	are	positioned	to	advance	

the	strategy	and	long-term	financial	performance	of	the	company	through	investments	in	technology,	digital	

the	strategy	and	long-term	financial	performance	of	the	company	through	investments	in	technology,	digital	

innovation,	marketing	and	people	as	well	as	the	recently	announced	acquisition	of	TCF.		

innovation,	marketing	and	people	as	well	as	the	recently	announced	acquisition	of	TCF.		

Legislative	and	Regulatory

Legislative	and	Regulatory

A	comprehensive	discussion	of	legislative	and	regulatory	matters	affecting	us	can	be	found	in	Item	1:	Business	-	

A	comprehensive	discussion	of	legislative	and	regulatory	matters	affecting	us	can	be	found	in	Item	1:	Business	-	

“Regulatory	Matters”	section	of	this	Form	10-K.	

“Regulatory	Matters”	section	of	this	Form	10-K.	

48					Huntington	Bancshares	Incorporated
48					Huntington	Bancshares	Incorporated

2020	Form	10-K					49

2020	Form	10-K					49

The	tangible	common	equity	to	tangible	assets	ratio	was	7.16%,	down	72	basis	points.		The	regulatory	Common	

The	tangible	common	equity	to	tangible	assets	ratio	was	7.16%,	down	72	basis	points.		The	regulatory	Common	

Equity	Tier	1	(CET1)	risk-based	capital	ratio	was	10.00%,	up	12	basis	points.		The	regulatory	Tier	1	risk-based	capital	

Equity	Tier	1	(CET1)	risk-based	capital	ratio	was	10.00%,	up	12	basis	points.		The	regulatory	Tier	1	risk-based	capital	

ratio	was	12.47%,	up	121	basis	points.	The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	

ratio	was	12.47%,	up	121	basis	points.	The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	

offset	by	a	change	in	asset	mix	during	2020	related	to	the	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	

offset	by	a	change	in	asset	mix	during	2020	related	to	the	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	

both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition	was	largely	

both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition	was	largely	

offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	

offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	

quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	ratio	also	reflects	the	issuance	of	$500	million	

quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	ratio	also	reflects	the	issuance	of	$500	million	

of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	

of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	

respectively.

respectively.

Business	Overview

Business	Overview

General

General

•

•

•

•

•

•

•

•

•

•

COVID-19	

COVID-19	

Our	general	business	objectives	are:	

Our	general	business	objectives	are:	

Consistent	organic	revenue	and	balance	sheet	growth.	

Consistent	organic	revenue	and	balance	sheet	growth.	

Invest	in	our	businesses,	particularly	technology	and	risk	management.	

Invest	in	our	businesses,	particularly	technology	and	risk	management.	

Deliver	positive	long-term	operating	leverage.

Deliver	positive	long-term	operating	leverage.

Maintain	aggregate	moderate-to-low	risk	appetite.	

Maintain	aggregate	moderate-to-low	risk	appetite.	

Disciplined	capital	management.

Disciplined	capital	management.

The	COVID-19	pandemic	has	caused	and	continues	to	cause	significant,	unprecedented	disruption	that	affects	

The	COVID-19	pandemic	has	caused	and	continues	to	cause	significant,	unprecedented	disruption	that	affects	

daily	living	and	negatively	impacts	the	global	economy.		The	pandemic	has	resulted	in	temporary	closures	of	many	

daily	living	and	negatively	impacts	the	global	economy.		The	pandemic	has	resulted	in	temporary	closures	of	many	

businesses	and	the	institution	of	social	distancing	and	shelter	in	place	requirements	in	many	states	and	

businesses	and	the	institution	of	social	distancing	and	shelter	in	place	requirements	in	many	states	and	

communities,	increasing	unemployment	levels	and	causing	volatility	in	the	financial	markets.		As	further	discussed	in	

communities,	increasing	unemployment	levels	and	causing	volatility	in	the	financial	markets.		As	further	discussed	in	

“Discussion	of	Results	of	Operations,”	the	reduction	in	interest	rates,	borrower	and	counterparty	credit	

“Discussion	of	Results	of	Operations,”	the	reduction	in	interest	rates,	borrower	and	counterparty	credit	

deterioration	and	market	volatility,	among	other	factors,	impacted	our	2020	performance.		Though	we	are	unable	to	

deterioration	and	market	volatility,	among	other	factors,	impacted	our	2020	performance.		Though	we	are	unable	to	

estimate	the	magnitude,	we	expect	the	pandemic	and	related	global	economic	crisis	will	adversely	affect	our	future	

estimate	the	magnitude,	we	expect	the	pandemic	and	related	global	economic	crisis	will	adversely	affect	our	future	

operating	results.		

operating	results.		

Huntington	was	able	to	react	quickly	to	these	changes	because	of	the	commitment	and	flexibility	of	its	

Huntington	was	able	to	react	quickly	to	these	changes	because	of	the	commitment	and	flexibility	of	its	

workforce	coupled	with	well-prepared	business	continuity	plans.		To	ensure	the	safety	of	our	branch	colleagues,	

workforce	coupled	with	well-prepared	business	continuity	plans.		To	ensure	the	safety	of	our	branch	colleagues,	

while	still	meeting	the	needs	of	our	customers,	we	moved	to	the	use	of	branches	with	drive-thru	only,	with	in-

while	still	meeting	the	needs	of	our	customers,	we	moved	to	the	use	of	branches	with	drive-thru	only,	with	in-

person	meetings	by	appointment	during	shelter-in-place	orders.		For	other	colleagues,	we	have	implemented	a	

person	meetings	by	appointment	during	shelter-in-place	orders.		For	other	colleagues,	we	have	implemented	a	

work-from-home	approach	with	increased	communication	to	keep	them	informed,	engaged,	productive	and	

work-from-home	approach	with	increased	communication	to	keep	them	informed,	engaged,	productive	and	

connected.		Additional	benefits	have	been	provided,	including	medical,	emergency	paid	time	off	and	other	programs	

connected.		Additional	benefits	have	been	provided,	including	medical,	emergency	paid	time	off	and	other	programs	

for	those	whose	families	have	been	directly	impacted	by	the	virus.		While	state	and	local	governments	have	partially	

for	those	whose	families	have	been	directly	impacted	by	the	virus.		While	state	and	local	governments	have	partially	

eased	temporary	business	closures	and	shelter	in	place	requirements	and	we	have	opened	our	branches,	we	expect	

eased	temporary	business	closures	and	shelter	in	place	requirements	and	we	have	opened	our	branches,	we	expect	

our	colleagues	who	have	been	operating	remotely	to	continue	for	some	period	of	time.		While	vaccines	have	been	

our	colleagues	who	have	been	operating	remotely	to	continue	for	some	period	of	time.		While	vaccines	have	been	

approved	and	are	being	administered	throughout	our	footprint,	it	remains	unknown	when,	or	if,	there	will	be	a	

approved	and	are	being	administered	throughout	our	footprint,	it	remains	unknown	when,	or	if,	there	will	be	a	

return	to	historical	normal	economic	and	social	activity.

return	to	historical	normal	economic	and	social	activity.

For	our	customers,	we	have	established	a	variety	of	temporary	relief	programs	which	include	loan	payment	

For	our	customers,	we	have	established	a	variety	of	temporary	relief	programs	which	include	loan	payment	

deferrals,	late	fee	and	overdraft	waivers	and	the	suspension	of	foreclosure	and	repossessions.		We	continue	to	work	

deferrals,	late	fee	and	overdraft	waivers	and	the	suspension	of	foreclosure	and	repossessions.		We	continue	to	work	

with	our	customers	to	originate	and	renew	business	loans	as	well	as	originated	loans	made	available	through	the	

with	our	customers	to	originate	and	renew	business	loans	as	well	as	originated	loans	made	available	through	the	

initial	Small	Business	Administration	Paycheck	Protection	Program,	a	lending	program	established	as	part	of	the	

initial	Small	Business	Administration	Paycheck	Protection	Program,	a	lending	program	established	as	part	of	the	

relief	to	American	consumers	and	businesses	in	the	Coronavirus	Aid,	Relief,	and	Economic	Security	Act	(“CARES	

relief	to	American	consumers	and	businesses	in	the	Coronavirus	Aid,	Relief,	and	Economic	Security	Act	(“CARES	

Act”).		The	Economic	Aid	to	Hard-Hit	Small	Businesses,	Nonprofits,	and	Venues	Act	(“Economic	Aid	Act”)	reopens	and	

Act”).		The	Economic	Aid	to	Hard-Hit	Small	Businesses,	Nonprofits,	and	Venues	Act	(“Economic	Aid	Act”)	reopens	and	

extends	the	PPP	loan	program.		As	of	February	19,	2021,	we	have	processed	approximately	16,000	applications	

extends	the	PPP	loan	program.		As	of	February	19,	2021,	we	have	processed	approximately	16,000	applications	

totaling	$1.8	billion	under	the	reopened	program.		

totaling	$1.8	billion	under	the	reopened	program.		

CARES	Act	

CARES	Act	

The	CARES	Act	was	passed	by	Congress	and	signed	into	law	on	March	27,	2020.		It	provides	for	financial	stimulus	

The	CARES	Act	was	passed	by	Congress	and	signed	into	law	on	March	27,	2020.		It	provides	for	financial	stimulus	

and	government	lending	programs	at	unprecedented	levels.		The	benefits	of	these	programs	within	the	economy	

and	government	lending	programs	at	unprecedented	levels.		The	benefits	of	these	programs	within	the	economy	

remain	uncertain.		The	CARES	Act	includes	a	total	allocation	of	$659	billion	for	loans	to	be	issued	by	financial	

remain	uncertain.		The	CARES	Act	includes	a	total	allocation	of	$659	billion	for	loans	to	be	issued	by	financial	

institutions	through	the	SBA.		This	program	is	known	as	the	PPP.		PPP	loans	are	forgivable,	in	whole	or	in	part,	if	the	

institutions	through	the	SBA.		This	program	is	known	as	the	PPP.		PPP	loans	are	forgivable,	in	whole	or	in	part,	if	the	

proceeds	are	used	for	payroll	and	other	permitted	purposes	in	accordance	with	the	requirements	of	the	PPP.		These	
proceeds	are	used	for	payroll	and	other	permitted	purposes	in	accordance	with	the	requirements	of	the	PPP.		These	
loans	carry	a	fixed	rate	of	1.00%	and	terms	of	two	or	five	years,	if	not	forgiven,	in	whole	or	in	part.			The	loans	also	
loans	carry	a	fixed	rate	of	1.00%	and	terms	of	two	or	five	years,	if	not	forgiven,	in	whole	or	in	part.			The	loans	also	
require	deferral	of	principal	and	interest	repayment.	The	loans	are	100%	guaranteed	by	the	SBA.		The	SBA	pays	the	
require	deferral	of	principal	and	interest	repayment.	The	loans	are	100%	guaranteed	by	the	SBA.		The	SBA	pays	the	
originating	bank	a	processing	fee	ranging	from	1%	to	5%,	based	on	the	size	of	the	loan.		In	addition,	the	FRB	has	
originating	bank	a	processing	fee	ranging	from	1%	to	5%,	based	on	the	size	of	the	loan.		In	addition,	the	FRB	has	
implemented	a	liquidity	facility	available	to	financial	institutions	participating	in	the	PPP	(“PPPLF”).		In	conjunction	
implemented	a	liquidity	facility	available	to	financial	institutions	participating	in	the	PPP	(“PPPLF”).		In	conjunction	
with	the	PPP,	the	PPPLF	will	allow	the	Federal	Reserve	Banks	to	lend	to	member	banks	on	a	non-recourse	basis	with	
with	the	PPP,	the	PPPLF	will	allow	the	Federal	Reserve	Banks	to	lend	to	member	banks	on	a	non-recourse	basis	with	
PPP	loans	as	collateral.		
PPP	loans	as	collateral.		

Additionally,	the	CARES	Act	provides	for	relief	on	existing	and	new	SBA	loans	through	Small	Business	Debt	Relief.		
Additionally,	the	CARES	Act	provides	for	relief	on	existing	and	new	SBA	loans	through	Small	Business	Debt	Relief.		

As	part	of	the	SBA	Small	Business	Debt	Relief,	the	SBA	will	automatically	pay	principal,	interest	and	fees	of	certain	
As	part	of	the	SBA	Small	Business	Debt	Relief,	the	SBA	will	automatically	pay	principal,	interest	and	fees	of	certain	
SBA	loans	for	a	period	of	six	months	for	both	existing	loans	and	new	loans	issued	prior	to	September	27,	2020.		To	
SBA	loans	for	a	period	of	six	months	for	both	existing	loans	and	new	loans	issued	prior	to	September	27,	2020.		To	
aid	small-	and	medium-sized	businesses	across	our	footprint	in	2020,	we	funded	more	than	38,000	loans	in	the	
aid	small-	and	medium-sized	businesses	across	our	footprint	in	2020,	we	funded	more	than	38,000	loans	in	the	
amount	of	$6.6	billion	through	the	SBA’s	PPP.		As	of	December	31,	2020,	we	have	an	outstanding	PPP	loan	balance	
amount	of	$6.6	billion	through	the	SBA’s	PPP.		As	of	December	31,	2020,	we	have	an	outstanding	PPP	loan	balance	
of	$6.1	billion	and	have	received	PPP	forgiveness	payments	of	$225	million	from	the	SBA.		Between	January	1,	2021	
of	$6.1	billion	and	have	received	PPP	forgiveness	payments	of	$225	million	from	the	SBA.		Between	January	1,	2021	
and	February	19,	2021,	we	have	received	PPP	forgiveness	payments	of	an	additional	$1.2	billion	from	the	SBA.
and	February	19,	2021,	we	have	received	PPP	forgiveness	payments	of	an	additional	$1.2	billion	from	the	SBA.

The	CARES	Act	also	provides	for	Mortgage	Payment	Relief	and	a	foreclosure	moratorium.		Refer	to	the	“Credit	
The	CARES	Act	also	provides	for	Mortgage	Payment	Relief	and	a	foreclosure	moratorium.		Refer	to	the	“Credit	

Risk”	section	for	additional	details	on	customer	relief.
Risk”	section	for	additional	details	on	customer	relief.

Economic	Aid	Act
Economic	Aid	Act

The	Economic	Aid	Act	became	law	on	December	27,	2020.		The	Act	reopens	and	expands	the	PPP	loan	program	
The	Economic	Aid	Act	became	law	on	December	27,	2020.		The	Act	reopens	and	expands	the	PPP	loan	program	

through	March	31,	2021.		The	changes	to	the	PPP	program	allow	new	borrowers	to	apply	for	a	loan	under	the	
through	March	31,	2021.		The	changes	to	the	PPP	program	allow	new	borrowers	to	apply	for	a	loan	under	the	
original	PPP	loan	program	(“First	Draw	Loan”)	and	the	creation	of	an	additional	PPP	loan	for	eligible	borrowers	
original	PPP	loan	program	(“First	Draw	Loan”)	and	the	creation	of	an	additional	PPP	loan	for	eligible	borrowers	
(“Second	Draw	Loan”).		The	Economic	Aid	Act	also	revises	certain	PPP	requirements,	including	aspects	of	loan	
(“Second	Draw	Loan”).		The	Economic	Aid	Act	also	revises	certain	PPP	requirements,	including	aspects	of	loan	
forgiveness	on	existing	PPP	loans.		
forgiveness	on	existing	PPP	loans.		

Federal	Reserve	Board	Actions
Federal	Reserve	Board	Actions

The	FRB	has	taken	a	range	of	actions	to	support	the	flow	of	credit	to	households	and	businesses.	For	example,	
The	FRB	has	taken	a	range	of	actions	to	support	the	flow	of	credit	to	households	and	businesses.	For	example,	
on	March	15,	2020,	the	FRB	reduced	the	target	range	for	the	federal	funds	rate	to	0	to	0.25%	and	announced	that	it	
on	March	15,	2020,	the	FRB	reduced	the	target	range	for	the	federal	funds	rate	to	0	to	0.25%	and	announced	that	it	
would	increase	its	holdings	of	U.S.	Treasury	securities	and	agency	mortgage-backed	securities	and	begin	purchasing	
would	increase	its	holdings	of	U.S.	Treasury	securities	and	agency	mortgage-backed	securities	and	begin	purchasing	
agency	commercial	mortgage-backed	securities.		The	FRB	has	also	encouraged	depository	institutions	to	borrow	
agency	commercial	mortgage-backed	securities.		The	FRB	has	also	encouraged	depository	institutions	to	borrow	
from	the	discount	window	and	has	lowered	the	primary	credit	rate	for	such	borrowing	by	150	basis	points	while	
from	the	discount	window	and	has	lowered	the	primary	credit	rate	for	such	borrowing	by	150	basis	points	while	
extending	the	term	of	such	loans	up	to	90	days.		Reserve	requirements	have	been	reduced	to	zero	as	of	March	26,	
extending	the	term	of	such	loans	up	to	90	days.		Reserve	requirements	have	been	reduced	to	zero	as	of	March	26,	
2020.
2020.

The	FRB	has	established,	or	has	taken	steps	to	establish,	a	range	of	facilities	and	programs	to	support	the	U.S.	
The	FRB	has	established,	or	has	taken	steps	to	establish,	a	range	of	facilities	and	programs	to	support	the	U.S.	

economy	and	U.S.	marketplace	participants	in	response	to	economic	disruptions	associated	with	COVID-19,	
economy	and	U.S.	marketplace	participants	in	response	to	economic	disruptions	associated	with	COVID-19,	
including	among	others,	Main	Street	Lending	facilities	to	purchase	loan	participations,	under	specified	conditions,	
including	among	others,	Main	Street	Lending	facilities	to	purchase	loan	participations,	under	specified	conditions,	
from	banks	lending	to	small	and	medium	U.S.	businesses.		During	2020,	we	participated	in	the	Main	Street	Lending	
from	banks	lending	to	small	and	medium	U.S.	businesses.		During	2020,	we	participated	in	the	Main	Street	Lending	
program	originating	$117	million	of	loans	under	these	facilities.	
program	originating	$117	million	of	loans	under	these	facilities.	

Economy	
Economy	

Our	2020	results	reflect	strong	execution	across	the	bank	given	the	pandemic	and	economic	challenges	faced	by	
Our	2020	results	reflect	strong	execution	across	the	bank	given	the	pandemic	and	economic	challenges	faced	by	

our	customers,	colleagues,	communities	and	the	country.		We	proactively	managed	through	the	continued	low	
our	customers,	colleagues,	communities	and	the	country.		We	proactively	managed	through	the	continued	low	
interest	rate	environment	and	unprecedented	economic	volatility	experienced	in	the	wake	of	the	pandemic.		The	
interest	rate	environment	and	unprecedented	economic	volatility	experienced	in	the	wake	of	the	pandemic.		The	
economy	in	our	footprint	continues	to	strengthen	as	demonstrated	by	the	strong	close	to	the	year	in	commercial	
economy	in	our	footprint	continues	to	strengthen	as	demonstrated	by	the	strong	close	to	the	year	in	commercial	
lending	and	our	increasing	loan	pipelines.		Additionally,	many	of	the	key	economic	indicators	in	the	region	such	as	
lending	and	our	increasing	loan	pipelines.		Additionally,	many	of	the	key	economic	indicators	in	the	region	such	as	
unemployment	rate,	consumer	confidence	and	consumer	retail	spending,	are	recovering	more	quickly	than	the	
unemployment	rate,	consumer	confidence	and	consumer	retail	spending,	are	recovering	more	quickly	than	the	
nation	as	a	whole.		We	believe	that	Huntington	enters	2021	with	strong	momentum.		We	are	positioned	to	advance	
nation	as	a	whole.		We	believe	that	Huntington	enters	2021	with	strong	momentum.		We	are	positioned	to	advance	
the	strategy	and	long-term	financial	performance	of	the	company	through	investments	in	technology,	digital	
the	strategy	and	long-term	financial	performance	of	the	company	through	investments	in	technology,	digital	
innovation,	marketing	and	people	as	well	as	the	recently	announced	acquisition	of	TCF.		
innovation,	marketing	and	people	as	well	as	the	recently	announced	acquisition	of	TCF.		

Legislative	and	Regulatory
Legislative	and	Regulatory

A	comprehensive	discussion	of	legislative	and	regulatory	matters	affecting	us	can	be	found	in	Item	1:	Business	-	
A	comprehensive	discussion	of	legislative	and	regulatory	matters	affecting	us	can	be	found	in	Item	1:	Business	-	

“Regulatory	Matters”	section	of	this	Form	10-K.	
“Regulatory	Matters”	section	of	this	Form	10-K.	

48					Huntington	Bancshares	Incorporated

48					Huntington	Bancshares	Incorporated

2020	Form	10-K					49
2020	Form	10-K					49

Table	1	-	Selected	Year	to	Date	Income	Statements(amounts	in	millions,	except	per	share	data)	Year	Ended	December	31,		Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Interest	income$	3,647	$	(554)		(13)	%$	4,201	$	252		6	%$	3,949	Interest	expense	423		(565)		(57)		988		228		30		760	Net	interest	income	3,224		11		—		3,213		24		1		3,189	Provision	for	credit	losses	1,048		761		265		287		52		22		235	Net	interest	income	after	provision	for	credit	losses	2,176		(750)		(26)		2,926		(28)		(1)		2,954	Mortgage	banking	income	366		199		119		167		59		55		108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income	1,591		137		9		1,454		133		10		1,321	Personnel	costs	1,692		38		2		1,654		95		6		1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense	2,795		74		3		2,721		74		3		2,647	Income	before	income	taxes	972		(687)		(41)		1,659		31		2		1,628	Provision	for	income	taxes	155		(93)		(38)		248		13		6		235	Net	income	817		(594)		(42)		1,411		18		1		1,393	Dividends	on	preferred	shares	100		26		35		74		4		6		70	Net	income	applicable	to	common	shares$	717	$	(620)		(46)	%$	1,337	$	14		1	%$	1,323	Average	common	shares—basic	1,017		(22)		(2)	%	1,039		(43)		(4)	%	1,082	Average	common	shares—diluted	1,033		(23)		(2)		1,056		(50)		(5)		1,106	Per	common	share:Net	income—basic$	0.71	$	(0.58)		(45)	%$	1.29	$	0.07		6	%$	1.22	Net	income—diluted	0.69		(0.58)		(46)		1.27		0.07		6		1.20	Cash	dividends	declared	0.60		0.02		3		0.58		0.08		16		0.50	Revenue—FTENet	interest	income$	3,224	$	11		—	%$	3,213	$	24		1	%$	3,189	FTE	adjustment	21		(5)		(19)		26		(4)		(13)		30	Net	interest	income(1)	3,245		6		—		3,239		20		1		3,219	Noninterest	income	1,591		137		9		1,454		133		10		1,321	Total	revenue(1)$	4,836	$	143		3	%$	4,693	$	153		3	%$	4,540	(1)	On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.50					Huntington	Bancshares	IncorporatedDISCUSSION	OF	RESULTS	OF	OPERATIONSThis	section	provides	a	review	of	financial	performance	from	a	consolidated	perspective.		Key	consolidated	balance	sheet	and	income	statement	trends	are	discussed.		All	earnings	per	share	data	are	reported	on	a	diluted	basis.		For	additional	insight	on	financial	performance,	please	read	this	section	in	conjunction	with	the	“Business	Segment	Discussion.”For	a	discussion	of	our	results	of	operations	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Discussion	of	Results	of	Operations	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Net	Interest	Income	/	Average	Balance	SheetOur	primary	source	of	revenue	is	net	interest	income,	which	is	the	difference	between	interest	income	from	earning	assets	(primarily	loans,	securities,	and	direct	financing	leases),	and	interest	expense	of	funding	sources	(primarily	interest-bearing	deposits	and	borrowings).		Earning	asset	balances	and	related	funding	sources,	as	well	as	changes	in	the	levels	of	interest	rates,	impact	net	interest	income.		The	difference	between	the	average	yield	on	earning	assets	and	the	average	rate	paid	for	interest-bearing	liabilities	is	the	net	interest	spread.		Noninterest-bearing	sources	of	funds,	such	as	demand	deposits	and	shareholders’	equity,	also	support	earning	assets.		The	impact	of	the	noninterest-bearing	sources	of	funds,	often	referred	to	as	“free”	funds,	is	captured	in	the	net	interest	margin,	which	is	calculated	as	net	interest	income	divided	by	average	earning	assets.		Both	the	net	interest	margin	and	net	interest	spread	are	presented	on	a	fully-taxable	equivalent	basis,	which	means	that	tax-free	interest	income	has	been	adjusted	to	a	pretax	equivalent	income,	assuming	a	21%	tax	rate.The	following	table	shows	changes	in	fully-taxable	equivalent	interest	income,	interest	expense,	and	net	interest	income	due	to	volume	and	rate	variances	for	major	categories	of	earning	assets	and	interest-bearing	liabilities:Table	2	-	Change	in	Net	Interest	Income	Due	to	Changes	in	Average	Volume	and	Interest	Rates	(1)	20202019(dollar	amounts	in	millions)Increase	(Decrease)	FromPrevious	Year	Due	ToIncrease	(Decrease)	FromPrevious	Year	Due	ToFully-taxable	equivalent	basis	(2)VolumeYield/RateTotalVolumeYield/RateTotalLoans	and	leases$	200	$	(655)	$	(455)	$	127	$	108	$	235	Investment	securities		23		(122)		(99)		(12)		10		(2)	Other	earning	assets	50		(55)		(5)		20		(5)		15	Total	interest	income	from	earning	assets	273		(832)		(559)		135		113		248	Deposits	38		(425)		(387)		17		177		194	Short-term	borrowings	(21)		(20)		(41)		(6)		12		6	Long-term	debt	6		(143)		(137)		12		16		28	Total	interest	expense	of	interest-bearing	liabilities	23		(588)		(565)		23		205		228	Net	interest	income$	250	$	(244)	$	6	$	112	$	(92)	$	20	(1)The	change	in	interest	income	or	expense	due	to	both	rate	and	volume	has	been	allocated	between	the	factors	in	proportion	to	the	relationship	of	the	absolute	dollar	amounts	of	the	change	in	each.(2)Calculated	assuming	a	21%	tax	rate.	2020	Form	10-K					51Table	1	-	Selected	Year	to	Date	Income	Statements(amounts	in	millions,	except	per	share	data)	Year	Ended	December	31,		Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Interest	income$	3,647	$	(554)		(13)	%$	4,201	$	252		6	%$	3,949	Interest	expense	423		(565)		(57)		988		228		30		760	Net	interest	income	3,224		11		—		3,213		24		1		3,189	Provision	for	credit	losses	1,048		761		265		287		52		22		235	Net	interest	income	after	provision	for	credit	losses	2,176		(750)		(26)		2,926		(28)		(1)		2,954	Mortgage	banking	income	366		199		119		167		59		55		108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income	1,591		137		9		1,454		133		10		1,321	Personnel	costs	1,692		38		2		1,654		95		6		1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense	2,795		74		3		2,721		74		3		2,647	Income	before	income	taxes	972		(687)		(41)		1,659		31		2		1,628	Provision	for	income	taxes	155		(93)		(38)		248		13		6		235	Net	income	817		(594)		(42)		1,411		18		1		1,393	Dividends	on	preferred	shares	100		26		35		74		4		6		70	Net	income	applicable	to	common	shares$	717	$	(620)		(46)	%$	1,337	$	14		1	%$	1,323	Average	common	shares—basic	1,017		(22)		(2)	%	1,039		(43)		(4)	%	1,082	Average	common	shares—diluted	1,033		(23)		(2)		1,056		(50)		(5)		1,106	Per	common	share:Net	income—basic$	0.71	$	(0.58)		(45)	%$	1.29	$	0.07		6	%$	1.22	Net	income—diluted	0.69		(0.58)		(46)		1.27		0.07		6		1.20	Cash	dividends	declared	0.60		0.02		3		0.58		0.08		16		0.50	Revenue—FTENet	interest	income$	3,224	$	11		—	%$	3,213	$	24		1	%$	3,189	FTE	adjustment	21		(5)		(19)		26		(4)		(13)		30	Net	interest	income(1)	3,245		6		—		3,239		20		1		3,219	Noninterest	income	1,591		137		9		1,454		133		10		1,321	Total	revenue(1)$	4,836	$	143		3	%$	4,693	$	153		3	%$	4,540	(1)	On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.50					Huntington	Bancshares	IncorporatedDISCUSSION	OF	RESULTS	OF	OPERATIONSThis	section	provides	a	review	of	financial	performance	from	a	consolidated	perspective.		Key	consolidated	balance	sheet	and	income	statement	trends	are	discussed.		All	earnings	per	share	data	are	reported	on	a	diluted	basis.		For	additional	insight	on	financial	performance,	please	read	this	section	in	conjunction	with	the	“Business	Segment	Discussion.”For	a	discussion	of	our	results	of	operations	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Discussion	of	Results	of	Operations	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Net	Interest	Income	/	Average	Balance	SheetOur	primary	source	of	revenue	is	net	interest	income,	which	is	the	difference	between	interest	income	from	earning	assets	(primarily	loans,	securities,	and	direct	financing	leases),	and	interest	expense	of	funding	sources	(primarily	interest-bearing	deposits	and	borrowings).		Earning	asset	balances	and	related	funding	sources,	as	well	as	changes	in	the	levels	of	interest	rates,	impact	net	interest	income.		The	difference	between	the	average	yield	on	earning	assets	and	the	average	rate	paid	for	interest-bearing	liabilities	is	the	net	interest	spread.		Noninterest-bearing	sources	of	funds,	such	as	demand	deposits	and	shareholders’	equity,	also	support	earning	assets.		The	impact	of	the	noninterest-bearing	sources	of	funds,	often	referred	to	as	“free”	funds,	is	captured	in	the	net	interest	margin,	which	is	calculated	as	net	interest	income	divided	by	average	earning	assets.		Both	the	net	interest	margin	and	net	interest	spread	are	presented	on	a	fully-taxable	equivalent	basis,	which	means	that	tax-free	interest	income	has	been	adjusted	to	a	pretax	equivalent	income,	assuming	a	21%	tax	rate.The	following	table	shows	changes	in	fully-taxable	equivalent	interest	income,	interest	expense,	and	net	interest	income	due	to	volume	and	rate	variances	for	major	categories	of	earning	assets	and	interest-bearing	liabilities:Table	2	-	Change	in	Net	Interest	Income	Due	to	Changes	in	Average	Volume	and	Interest	Rates	(1)	20202019(dollar	amounts	in	millions)Increase	(Decrease)	FromPrevious	Year	Due	ToIncrease	(Decrease)	FromPrevious	Year	Due	ToFully-taxable	equivalent	basis	(2)VolumeYield/RateTotalVolumeYield/RateTotalLoans	and	leases$	200	$	(655)	$	(455)	$	127	$	108	$	235	Investment	securities		23		(122)		(99)		(12)		10		(2)	Other	earning	assets	50		(55)		(5)		20		(5)		15	Total	interest	income	from	earning	assets	273		(832)		(559)		135		113		248	Deposits	38		(425)		(387)		17		177		194	Short-term	borrowings	(21)		(20)		(41)		(6)		12		6	Long-term	debt	6		(143)		(137)		12		16		28	Total	interest	expense	of	interest-bearing	liabilities	23		(588)		(565)		23		205		228	Net	interest	income$	250	$	(244)	$	6	$	112	$	(92)	$	20	(1)The	change	in	interest	income	or	expense	due	to	both	rate	and	volume	has	been	allocated	between	the	factors	in	proportion	to	the	relationship	of	the	absolute	dollar	amounts	of	the	change	in	each.(2)Calculated	assuming	a	21%	tax	rate.	2020	Form	10-K					51Table	1	-	Selected	Year	to	Date	Income	Statements(amounts	in	millions,	except	per	share	data)	Year	Ended	December	31,		Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Interest	income$	3,647	$	(554)		(13)	%$	4,201	$	252		6	%$	3,949	Interest	expense	423		(565)		(57)		988		228		30		760	Net	interest	income	3,224		11		—		3,213		24		1		3,189	Provision	for	credit	losses	1,048		761		265		287		52		22		235	Net	interest	income	after	provision	for	credit	losses	2,176		(750)		(26)		2,926		(28)		(1)		2,954	Mortgage	banking	income	366		199		119		167		59		55		108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income	1,591		137		9		1,454		133		10		1,321	Personnel	costs	1,692		38		2		1,654		95		6		1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense	2,795		74		3		2,721		74		3		2,647	Income	before	income	taxes	972		(687)		(41)		1,659		31		2		1,628	Provision	for	income	taxes	155		(93)		(38)		248		13		6		235	Net	income	817		(594)		(42)		1,411		18		1		1,393	Dividends	on	preferred	shares	100		26		35		74		4		6		70	Net	income	applicable	to	common	shares$	717	$	(620)		(46)	%$	1,337	$	14		1	%$	1,323	Average	common	shares—basic	1,017		(22)		(2)	%	1,039		(43)		(4)	%	1,082	Average	common	shares—diluted	1,033		(23)		(2)		1,056		(50)		(5)		1,106	Per	common	share:Net	income—basic$	0.71	$	(0.58)		(45)	%$	1.29	$	0.07		6	%$	1.22	Net	income—diluted	0.69		(0.58)		(46)		1.27		0.07		6		1.20	Cash	dividends	declared	0.60		0.02		3		0.58		0.08		16		0.50	Revenue—FTENet	interest	income$	3,224	$	11		—	%$	3,213	$	24		1	%$	3,189	FTE	adjustment	21		(5)		(19)		26		(4)		(13)		30	Net	interest	income(1)	3,245		6		—		3,239		20		1		3,219	Noninterest	income	1,591		137		9		1,454		133		10		1,321	Total	revenue(1)$	4,836	$	143		3	%$	4,693	$	153		3	%$	4,540	(1)	On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.50					Huntington	Bancshares	IncorporatedDISCUSSION	OF	RESULTS	OF	OPERATIONSThis	section	provides	a	review	of	financial	performance	from	a	consolidated	perspective.		Key	consolidated	balance	sheet	and	income	statement	trends	are	discussed.		All	earnings	per	share	data	are	reported	on	a	diluted	basis.		For	additional	insight	on	financial	performance,	please	read	this	section	in	conjunction	with	the	“Business	Segment	Discussion.”For	a	discussion	of	our	results	of	operations	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Discussion	of	Results	of	Operations	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Net	Interest	Income	/	Average	Balance	SheetOur	primary	source	of	revenue	is	net	interest	income,	which	is	the	difference	between	interest	income	from	earning	assets	(primarily	loans,	securities,	and	direct	financing	leases),	and	interest	expense	of	funding	sources	(primarily	interest-bearing	deposits	and	borrowings).		Earning	asset	balances	and	related	funding	sources,	as	well	as	changes	in	the	levels	of	interest	rates,	impact	net	interest	income.		The	difference	between	the	average	yield	on	earning	assets	and	the	average	rate	paid	for	interest-bearing	liabilities	is	the	net	interest	spread.		Noninterest-bearing	sources	of	funds,	such	as	demand	deposits	and	shareholders’	equity,	also	support	earning	assets.		The	impact	of	the	noninterest-bearing	sources	of	funds,	often	referred	to	as	“free”	funds,	is	captured	in	the	net	interest	margin,	which	is	calculated	as	net	interest	income	divided	by	average	earning	assets.		Both	the	net	interest	margin	and	net	interest	spread	are	presented	on	a	fully-taxable	equivalent	basis,	which	means	that	tax-free	interest	income	has	been	adjusted	to	a	pretax	equivalent	income,	assuming	a	21%	tax	rate.The	following	table	shows	changes	in	fully-taxable	equivalent	interest	income,	interest	expense,	and	net	interest	income	due	to	volume	and	rate	variances	for	major	categories	of	earning	assets	and	interest-bearing	liabilities:Table	2	-	Change	in	Net	Interest	Income	Due	to	Changes	in	Average	Volume	and	Interest	Rates	(1)	20202019(dollar	amounts	in	millions)Increase	(Decrease)	FromPrevious	Year	Due	ToIncrease	(Decrease)	FromPrevious	Year	Due	ToFully-taxable	equivalent	basis	(2)VolumeYield/RateTotalVolumeYield/RateTotalLoans	and	leases$	200	$	(655)	$	(455)	$	127	$	108	$	235	Investment	securities		23		(122)		(99)		(12)		10		(2)	Other	earning	assets	50		(55)		(5)		20		(5)		15	Total	interest	income	from	earning	assets	273		(832)		(559)		135		113		248	Deposits	38		(425)		(387)		17		177		194	Short-term	borrowings	(21)		(20)		(41)		(6)		12		6	Long-term	debt	6		(143)		(137)		12		16		28	Total	interest	expense	of	interest-bearing	liabilities	23		(588)		(565)		23		205		228	Net	interest	income$	250	$	(244)	$	6	$	112	$	(92)	$	20	(1)The	change	in	interest	income	or	expense	due	to	both	rate	and	volume	has	been	allocated	between	the	factors	in	proportion	to	the	relationship	of	the	absolute	dollar	amounts	of	the	change	in	each.(2)Calculated	assuming	a	21%	tax	rate.	2020	Form	10-K					51Table	1	-	Selected	Year	to	Date	Income	Statements(amounts	in	millions,	except	per	share	data)	Year	Ended	December	31,		Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Interest	income$	3,647	$	(554)		(13)	%$	4,201	$	252		6	%$	3,949	Interest	expense	423		(565)		(57)		988		228		30		760	Net	interest	income	3,224		11		—		3,213		24		1		3,189	Provision	for	credit	losses	1,048		761		265		287		52		22		235	Net	interest	income	after	provision	for	credit	losses	2,176		(750)		(26)		2,926		(28)		(1)		2,954	Mortgage	banking	income	366		199		119		167		59		55		108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income	1,591		137		9		1,454		133		10		1,321	Personnel	costs	1,692		38		2		1,654		95		6		1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense	2,795		74		3		2,721		74		3		2,647	Income	before	income	taxes	972		(687)		(41)		1,659		31		2		1,628	Provision	for	income	taxes	155		(93)		(38)		248		13		6		235	Net	income	817		(594)		(42)		1,411		18		1		1,393	Dividends	on	preferred	shares	100		26		35		74		4		6		70	Net	income	applicable	to	common	shares$	717	$	(620)		(46)	%$	1,337	$	14		1	%$	1,323	Average	common	shares—basic	1,017		(22)		(2)	%	1,039		(43)		(4)	%	1,082	Average	common	shares—diluted	1,033		(23)		(2)		1,056		(50)		(5)		1,106	Per	common	share:Net	income—basic$	0.71	$	(0.58)		(45)	%$	1.29	$	0.07		6	%$	1.22	Net	income—diluted	0.69		(0.58)		(46)		1.27		0.07		6		1.20	Cash	dividends	declared	0.60		0.02		3		0.58		0.08		16		0.50	Revenue—FTENet	interest	income$	3,224	$	11		—	%$	3,213	$	24		1	%$	3,189	FTE	adjustment	21		(5)		(19)		26		(4)		(13)		30	Net	interest	income(1)	3,245		6		—		3,239		20		1		3,219	Noninterest	income	1,591		137		9		1,454		133		10		1,321	Total	revenue(1)$	4,836	$	143		3	%$	4,693	$	153		3	%$	4,540	(1)	On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.50					Huntington	Bancshares	IncorporatedDISCUSSION	OF	RESULTS	OF	OPERATIONSThis	section	provides	a	review	of	financial	performance	from	a	consolidated	perspective.		Key	consolidated	balance	sheet	and	income	statement	trends	are	discussed.		All	earnings	per	share	data	are	reported	on	a	diluted	basis.		For	additional	insight	on	financial	performance,	please	read	this	section	in	conjunction	with	the	“Business	Segment	Discussion.”For	a	discussion	of	our	results	of	operations	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Discussion	of	Results	of	Operations	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Net	Interest	Income	/	Average	Balance	SheetOur	primary	source	of	revenue	is	net	interest	income,	which	is	the	difference	between	interest	income	from	earning	assets	(primarily	loans,	securities,	and	direct	financing	leases),	and	interest	expense	of	funding	sources	(primarily	interest-bearing	deposits	and	borrowings).		Earning	asset	balances	and	related	funding	sources,	as	well	as	changes	in	the	levels	of	interest	rates,	impact	net	interest	income.		The	difference	between	the	average	yield	on	earning	assets	and	the	average	rate	paid	for	interest-bearing	liabilities	is	the	net	interest	spread.		Noninterest-bearing	sources	of	funds,	such	as	demand	deposits	and	shareholders’	equity,	also	support	earning	assets.		The	impact	of	the	noninterest-bearing	sources	of	funds,	often	referred	to	as	“free”	funds,	is	captured	in	the	net	interest	margin,	which	is	calculated	as	net	interest	income	divided	by	average	earning	assets.		Both	the	net	interest	margin	and	net	interest	spread	are	presented	on	a	fully-taxable	equivalent	basis,	which	means	that	tax-free	interest	income	has	been	adjusted	to	a	pretax	equivalent	income,	assuming	a	21%	tax	rate.The	following	table	shows	changes	in	fully-taxable	equivalent	interest	income,	interest	expense,	and	net	interest	income	due	to	volume	and	rate	variances	for	major	categories	of	earning	assets	and	interest-bearing	liabilities:Table	2	-	Change	in	Net	Interest	Income	Due	to	Changes	in	Average	Volume	and	Interest	Rates	(1)	20202019(dollar	amounts	in	millions)Increase	(Decrease)	FromPrevious	Year	Due	ToIncrease	(Decrease)	FromPrevious	Year	Due	ToFully-taxable	equivalent	basis	(2)VolumeYield/RateTotalVolumeYield/RateTotalLoans	and	leases$	200	$	(655)	$	(455)	$	127	$	108	$	235	Investment	securities		23		(122)		(99)		(12)		10		(2)	Other	earning	assets	50		(55)		(5)		20		(5)		15	Total	interest	income	from	earning	assets	273		(832)		(559)		135		113		248	Deposits	38		(425)		(387)		17		177		194	Short-term	borrowings	(21)		(20)		(41)		(6)		12		6	Long-term	debt	6		(143)		(137)		12		16		28	Total	interest	expense	of	interest-bearing	liabilities	23		(588)		(565)		23		205		228	Net	interest	income$	250	$	(244)	$	6	$	112	$	(92)	$	20	(1)The	change	in	interest	income	or	expense	due	to	both	rate	and	volume	has	been	allocated	between	the	factors	in	proportion	to	the	relationship	of	the	absolute	dollar	amounts	of	the	change	in	each.(2)Calculated	assuming	a	21%	tax	rate.	2020	Form	10-K					51Table	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis(dollar	amounts	in	millions)Average	BalancesChange	from	2019Change	from	2018Fully-taxable	equivalent	basis	(1)2020AmountPercent2019AmountPercent2018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	3,874	$	3,322		602	%$	552	$	430		352	%$	122	Interest-bearing	deposits	in	banks	176		34		24		142		54		61		88	Securities:Trading	account	securities	59		(77)		(57)		136		40		42		96	Available-for-sale	securities:Taxable	11,392		498		5		10,894		194		2		10,700	Tax-exempt	2,735		(172)		(6)		2,907		(556)		(16)		3,463	Total	available-for-sale	securities	14,127		326		2		13,801		(362)		(3)		14,163	Held-to-maturity	securities—taxable	9,248		603		7		8,645		2		—		8,643	Other	securities	443		(28)		(6)		471		(113)		(19)		584	Total	securities	23,877		824		4		23,053		(433)		(2)		23,486	Loans	held	for	sale	1,121		305		37		816		181		29		635	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	33,917		3,368		11		30,549		1,662		6		28,887	Commercial	real	estate:Construction	1,156		(15)		(1)		1,171		25		2		1,146	Commercial	5,898		196		3		5,702		(347)		(6)		6,049	Commercial	real	estate	7,054		181		3		6,873		(322)		(4)		7,195	Total	commercial	40,971		3,549		9		37,422		1,340		4		36,082	Consumer:Automobile	loans	and	leases	12,838		495		4		12,343		51		—		12,292	Home	equity	8,930		(486)		(5)		9,416		(499)		(5)		9,915	Residential	mortgage	11,694		607		5		11,087		1,180		12		9,907	RV	and	marine	3,876		425		12		3,451		604		21		2,847	Other	consumer	1,086		(173)		(14)		1,259		56		5		1,203	Total	consumer	38,424		868		2		37,556		1,392		4		36,164	Total	loans	and	leases	79,395		4,417		6		74,978		2,732		4		72,246	Allowance	for	loan	and	lease	losses	(1,581)		(795)		(101)		(786)		(39)		(5)		(747)	Net	loans	and	leases	77,814		3,622		5		74,192		2,693		4		71,499	Total	earning	assets	108,443		8,902		9		99,541		2,964		3		96,577	Cash	and	due	from	banks	1,124		282		33		842		(342)		(29)		1,184	Intangible	assets	2,201		(45)		(2)		2,246		(65)		(3)		2,311	All	other	assets	7,045		917		15		6,128		471		8		5,657	Total	assets$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	23,514	$	3,656		18	%$	19,858	$	563		3	%$	19,295	Money	market	deposits	25,695		1,923		8		23,772		2,326		11		21,446	Savings	and	other	domestic	deposits	10,720		804		8		9,916		(1,167)		(11)		11,083	Core	certificates	of	deposit	(4)	2,610		(2,980)		(53)		5,590		1,402		33		4,188	Other	domestic	time	deposits	of	$250,000	or	more	216		(103)		(32)		319		39		14		280	Brokered	time	deposits	and	negotiable	CDs	3,822		1,006		36		2,816		(687)		(20)		3,503	Total	interest-bearing	deposits	66,577		4,306		7		62,271		2,476		4		59,795	Short-term	borrowings	1,147		(1,297)		(53)		2,444		(304)		(11)		2,748	Long-term	debt	9,496		164		2		9,332		340		4		8,992	Total	interest-bearing	liabilities	77,220		3,173		4		74,047		2,512		4		71,535	Demand	deposits—noninterest-bearing	25,336		5,275		26		20,061		(330)		(2)		20,391	All	other	liabilities	2,373		70		3		2,303		306		15		1,997	Shareholders’	equity	12,303		743		6		11,560		501		5		11,059	Total	liabilities	and	shareholders’	equity$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	nonaccrual	loans	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more52					Huntington	Bancshares	IncorporatedTable	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis	(Continued)(dollar	amounts	in	millions)Interest	Income	/	ExpenseAverage	Rate	(5)Fully-taxable	equivalent	basis	(1)202020192018202020192018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	6	$	12	$	3		0.15	%	2.12	%	2.33	%Interest-bearing	deposits	in	banks	1		3		2		0.47		2.01		1.97	Securities:Trading	account	securities	2		3		1		3.10		2.17		0.80	Available-for-sale	securities:Taxable	237		295		280		2.08		2.71		2.61	Tax-exempt	77		105		122		2.84		3.61		3.53	Total	available-for-sale	securities	314		400		402		2.23		2.90		2.84	Held-to-maturity	securities—taxable	216		218		211		2.33		2.52		2.44	Other	securities	6		16		25		1.41		3.47		4.34	Total	securities	538		637		639		2.25		2.76		2.72	Loans	held	for	sale	34		31		26		3.06		3.76		4.15	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	1,290		1,441		1,337		3.80		4.72		4.63	Commercial	real	estate:Construction	44		64		60		3.84		5.51		5.26	Commercial	181		273		283		3.07		4.79		4.67	Commercial	real	estate	225		337		343		3.19		4.91		4.77	Total	commercial	1,515		1,778		1,680		3.70		4.75		4.66	Consumer:Automobile	loans	and	leases	504		500		456		3.93		4.05		3.71	Home	equity	358		508		512		4.01		5.40		5.16	Residential	mortgage	406		422		371		3.47		3.81		3.74	RV	and	marine	181		171		145		4.68		4.95		5.09	Other	consumer	125		165		145		11.48		13.11		12.04	Total	consumer	1,574		1,766		1,629		4.10		4.70		4.50	Total	loans	and	leases	3,089		3,544		3,309		3.89		4.73		4.58	Total	earning	assets$	3,668	$	4,227	$	3,979		3.38	%	4.25	%	4.12	%Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	32	$	116	$	78		0.14	%	0.58	%	0.40	%Money	market	deposits	100		260		148		0.39		1.09		0.69	Savings	and	other	domestic	deposits	10		22		24		0.09		0.22		0.22	Core	certificates	of	deposit	(4)	38		119		72		1.44		2.13		1.72	Other	domestic	time	deposits	of	$250,000	or	more	3		7		3		1.18		1.82		1.25	Brokered	time	deposits	and	negotiable	CDs	15		61		66		0.38		2.18		1.88	Total	interest-bearing	deposits	198		585		391		0.30		0.94		0.65	Short-term	borrowings	13		54		48		1.18		2.23		1.74	Long-term	debt	212		349		321		2.24		3.74		3.57	Total	interest-bearing	liabilities	423		988		760		0.55		1.34		1.06	Net	interest	income$	3,245	$	3,239	$	3,219	Net	interest	rate	spread	2.83		2.91		3.06	Impact	of	noninterest-bearing	funds	on	margin	0.16		0.35		0.27	Net	interest	margin	2.99	%	3.26	%	3.33	%(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	NALs	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.(5)Average	rates	include	the	impact	of	applicable	derivatives.		Loan	and	lease	and	deposit	average	rates	also	include	impact	of	applicable	non-deferrable	and	amortized	fees.2020	Form	10-K					53Table	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis(dollar	amounts	in	millions)Average	BalancesChange	from	2019Change	from	2018Fully-taxable	equivalent	basis	(1)2020AmountPercent2019AmountPercent2018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	3,874	$	3,322		602	%$	552	$	430		352	%$	122	Interest-bearing	deposits	in	banks	176		34		24		142		54		61		88	Securities:Trading	account	securities	59		(77)		(57)		136		40		42		96	Available-for-sale	securities:Taxable	11,392		498		5		10,894		194		2		10,700	Tax-exempt	2,735		(172)		(6)		2,907		(556)		(16)		3,463	Total	available-for-sale	securities	14,127		326		2		13,801		(362)		(3)		14,163	Held-to-maturity	securities—taxable	9,248		603		7		8,645		2		—		8,643	Other	securities	443		(28)		(6)		471		(113)		(19)		584	Total	securities	23,877		824		4		23,053		(433)		(2)		23,486	Loans	held	for	sale	1,121		305		37		816		181		29		635	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	33,917		3,368		11		30,549		1,662		6		28,887	Commercial	real	estate:Construction	1,156		(15)		(1)		1,171		25		2		1,146	Commercial	5,898		196		3		5,702		(347)		(6)		6,049	Commercial	real	estate	7,054		181		3		6,873		(322)		(4)		7,195	Total	commercial	40,971		3,549		9		37,422		1,340		4		36,082	Consumer:Automobile	loans	and	leases	12,838		495		4		12,343		51		—		12,292	Home	equity	8,930		(486)		(5)		9,416		(499)		(5)		9,915	Residential	mortgage	11,694		607		5		11,087		1,180		12		9,907	RV	and	marine	3,876		425		12		3,451		604		21		2,847	Other	consumer	1,086		(173)		(14)		1,259		56		5		1,203	Total	consumer	38,424		868		2		37,556		1,392		4		36,164	Total	loans	and	leases	79,395		4,417		6		74,978		2,732		4		72,246	Allowance	for	loan	and	lease	losses	(1,581)		(795)		(101)		(786)		(39)		(5)		(747)	Net	loans	and	leases	77,814		3,622		5		74,192		2,693		4		71,499	Total	earning	assets	108,443		8,902		9		99,541		2,964		3		96,577	Cash	and	due	from	banks	1,124		282		33		842		(342)		(29)		1,184	Intangible	assets	2,201		(45)		(2)		2,246		(65)		(3)		2,311	All	other	assets	7,045		917		15		6,128		471		8		5,657	Total	assets$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	23,514	$	3,656		18	%$	19,858	$	563		3	%$	19,295	Money	market	deposits	25,695		1,923		8		23,772		2,326		11		21,446	Savings	and	other	domestic	deposits	10,720		804		8		9,916		(1,167)		(11)		11,083	Core	certificates	of	deposit	(4)	2,610		(2,980)		(53)		5,590		1,402		33		4,188	Other	domestic	time	deposits	of	$250,000	or	more	216		(103)		(32)		319		39		14		280	Brokered	time	deposits	and	negotiable	CDs	3,822		1,006		36		2,816		(687)		(20)		3,503	Total	interest-bearing	deposits	66,577		4,306		7		62,271		2,476		4		59,795	Short-term	borrowings	1,147		(1,297)		(53)		2,444		(304)		(11)		2,748	Long-term	debt	9,496		164		2		9,332		340		4		8,992	Total	interest-bearing	liabilities	77,220		3,173		4		74,047		2,512		4		71,535	Demand	deposits—noninterest-bearing	25,336		5,275		26		20,061		(330)		(2)		20,391	All	other	liabilities	2,373		70		3		2,303		306		15		1,997	Shareholders’	equity	12,303		743		6		11,560		501		5		11,059	Total	liabilities	and	shareholders’	equity$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	nonaccrual	loans	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more52					Huntington	Bancshares	IncorporatedTable	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis	(Continued)(dollar	amounts	in	millions)Interest	Income	/	ExpenseAverage	Rate	(5)Fully-taxable	equivalent	basis	(1)202020192018202020192018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	6	$	12	$	3		0.15	%	2.12	%	2.33	%Interest-bearing	deposits	in	banks	1		3		2		0.47		2.01		1.97	Securities:Trading	account	securities	2		3		1		3.10		2.17		0.80	Available-for-sale	securities:Taxable	237		295		280		2.08		2.71		2.61	Tax-exempt	77		105		122		2.84		3.61		3.53	Total	available-for-sale	securities	314		400		402		2.23		2.90		2.84	Held-to-maturity	securities—taxable	216		218		211		2.33		2.52		2.44	Other	securities	6		16		25		1.41		3.47		4.34	Total	securities	538		637		639		2.25		2.76		2.72	Loans	held	for	sale	34		31		26		3.06		3.76		4.15	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	1,290		1,441		1,337		3.80		4.72		4.63	Commercial	real	estate:Construction	44		64		60		3.84		5.51		5.26	Commercial	181		273		283		3.07		4.79		4.67	Commercial	real	estate	225		337		343		3.19		4.91		4.77	Total	commercial	1,515		1,778		1,680		3.70		4.75		4.66	Consumer:Automobile	loans	and	leases	504		500		456		3.93		4.05		3.71	Home	equity	358		508		512		4.01		5.40		5.16	Residential	mortgage	406		422		371		3.47		3.81		3.74	RV	and	marine	181		171		145		4.68		4.95		5.09	Other	consumer	125		165		145		11.48		13.11		12.04	Total	consumer	1,574		1,766		1,629		4.10		4.70		4.50	Total	loans	and	leases	3,089		3,544		3,309		3.89		4.73		4.58	Total	earning	assets$	3,668	$	4,227	$	3,979		3.38	%	4.25	%	4.12	%Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	32	$	116	$	78		0.14	%	0.58	%	0.40	%Money	market	deposits	100		260		148		0.39		1.09		0.69	Savings	and	other	domestic	deposits	10		22		24		0.09		0.22		0.22	Core	certificates	of	deposit	(4)	38		119		72		1.44		2.13		1.72	Other	domestic	time	deposits	of	$250,000	or	more	3		7		3		1.18		1.82		1.25	Brokered	time	deposits	and	negotiable	CDs	15		61		66		0.38		2.18		1.88	Total	interest-bearing	deposits	198		585		391		0.30		0.94		0.65	Short-term	borrowings	13		54		48		1.18		2.23		1.74	Long-term	debt	212		349		321		2.24		3.74		3.57	Total	interest-bearing	liabilities	423		988		760		0.55		1.34		1.06	Net	interest	income$	3,245	$	3,239	$	3,219	Net	interest	rate	spread	2.83		2.91		3.06	Impact	of	noninterest-bearing	funds	on	margin	0.16		0.35		0.27	Net	interest	margin	2.99	%	3.26	%	3.33	%(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	NALs	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.(5)Average	rates	include	the	impact	of	applicable	derivatives.		Loan	and	lease	and	deposit	average	rates	also	include	impact	of	applicable	non-deferrable	and	amortized	fees.2020	Form	10-K					53Table	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis(dollar	amounts	in	millions)Average	BalancesChange	from	2019Change	from	2018Fully-taxable	equivalent	basis	(1)2020AmountPercent2019AmountPercent2018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	3,874	$	3,322		602	%$	552	$	430		352	%$	122	Interest-bearing	deposits	in	banks	176		34		24		142		54		61		88	Securities:Trading	account	securities	59		(77)		(57)		136		40		42		96	Available-for-sale	securities:Taxable	11,392		498		5		10,894		194		2		10,700	Tax-exempt	2,735		(172)		(6)		2,907		(556)		(16)		3,463	Total	available-for-sale	securities	14,127		326		2		13,801		(362)		(3)		14,163	Held-to-maturity	securities—taxable	9,248		603		7		8,645		2		—		8,643	Other	securities	443		(28)		(6)		471		(113)		(19)		584	Total	securities	23,877		824		4		23,053		(433)		(2)		23,486	Loans	held	for	sale	1,121		305		37		816		181		29		635	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	33,917		3,368		11		30,549		1,662		6		28,887	Commercial	real	estate:Construction	1,156		(15)		(1)		1,171		25		2		1,146	Commercial	5,898		196		3		5,702		(347)		(6)		6,049	Commercial	real	estate	7,054		181		3		6,873		(322)		(4)		7,195	Total	commercial	40,971		3,549		9		37,422		1,340		4		36,082	Consumer:Automobile	loans	and	leases	12,838		495		4		12,343		51		—		12,292	Home	equity	8,930		(486)		(5)		9,416		(499)		(5)		9,915	Residential	mortgage	11,694		607		5		11,087		1,180		12		9,907	RV	and	marine	3,876		425		12		3,451		604		21		2,847	Other	consumer	1,086		(173)		(14)		1,259		56		5		1,203	Total	consumer	38,424		868		2		37,556		1,392		4		36,164	Total	loans	and	leases	79,395		4,417		6		74,978		2,732		4		72,246	Allowance	for	loan	and	lease	losses	(1,581)		(795)		(101)		(786)		(39)		(5)		(747)	Net	loans	and	leases	77,814		3,622		5		74,192		2,693		4		71,499	Total	earning	assets	108,443		8,902		9		99,541		2,964		3		96,577	Cash	and	due	from	banks	1,124		282		33		842		(342)		(29)		1,184	Intangible	assets	2,201		(45)		(2)		2,246		(65)		(3)		2,311	All	other	assets	7,045		917		15		6,128		471		8		5,657	Total	assets$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	23,514	$	3,656		18	%$	19,858	$	563		3	%$	19,295	Money	market	deposits	25,695		1,923		8		23,772		2,326		11		21,446	Savings	and	other	domestic	deposits	10,720		804		8		9,916		(1,167)		(11)		11,083	Core	certificates	of	deposit	(4)	2,610		(2,980)		(53)		5,590		1,402		33		4,188	Other	domestic	time	deposits	of	$250,000	or	more	216		(103)		(32)		319		39		14		280	Brokered	time	deposits	and	negotiable	CDs	3,822		1,006		36		2,816		(687)		(20)		3,503	Total	interest-bearing	deposits	66,577		4,306		7		62,271		2,476		4		59,795	Short-term	borrowings	1,147		(1,297)		(53)		2,444		(304)		(11)		2,748	Long-term	debt	9,496		164		2		9,332		340		4		8,992	Total	interest-bearing	liabilities	77,220		3,173		4		74,047		2,512		4		71,535	Demand	deposits—noninterest-bearing	25,336		5,275		26		20,061		(330)		(2)		20,391	All	other	liabilities	2,373		70		3		2,303		306		15		1,997	Shareholders’	equity	12,303		743		6		11,560		501		5		11,059	Total	liabilities	and	shareholders’	equity$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	nonaccrual	loans	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more52					Huntington	Bancshares	IncorporatedTable	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis	(Continued)(dollar	amounts	in	millions)Interest	Income	/	ExpenseAverage	Rate	(5)Fully-taxable	equivalent	basis	(1)202020192018202020192018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	6	$	12	$	3		0.15	%	2.12	%	2.33	%Interest-bearing	deposits	in	banks	1		3		2		0.47		2.01		1.97	Securities:Trading	account	securities	2		3		1		3.10		2.17		0.80	Available-for-sale	securities:Taxable	237		295		280		2.08		2.71		2.61	Tax-exempt	77		105		122		2.84		3.61		3.53	Total	available-for-sale	securities	314		400		402		2.23		2.90		2.84	Held-to-maturity	securities—taxable	216		218		211		2.33		2.52		2.44	Other	securities	6		16		25		1.41		3.47		4.34	Total	securities	538		637		639		2.25		2.76		2.72	Loans	held	for	sale	34		31		26		3.06		3.76		4.15	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	1,290		1,441		1,337		3.80		4.72		4.63	Commercial	real	estate:Construction	44		64		60		3.84		5.51		5.26	Commercial	181		273		283		3.07		4.79		4.67	Commercial	real	estate	225		337		343		3.19		4.91		4.77	Total	commercial	1,515		1,778		1,680		3.70		4.75		4.66	Consumer:Automobile	loans	and	leases	504		500		456		3.93		4.05		3.71	Home	equity	358		508		512		4.01		5.40		5.16	Residential	mortgage	406		422		371		3.47		3.81		3.74	RV	and	marine	181		171		145		4.68		4.95		5.09	Other	consumer	125		165		145		11.48		13.11		12.04	Total	consumer	1,574		1,766		1,629		4.10		4.70		4.50	Total	loans	and	leases	3,089		3,544		3,309		3.89		4.73		4.58	Total	earning	assets$	3,668	$	4,227	$	3,979		3.38	%	4.25	%	4.12	%Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	32	$	116	$	78		0.14	%	0.58	%	0.40	%Money	market	deposits	100		260		148		0.39		1.09		0.69	Savings	and	other	domestic	deposits	10		22		24		0.09		0.22		0.22	Core	certificates	of	deposit	(4)	38		119		72		1.44		2.13		1.72	Other	domestic	time	deposits	of	$250,000	or	more	3		7		3		1.18		1.82		1.25	Brokered	time	deposits	and	negotiable	CDs	15		61		66		0.38		2.18		1.88	Total	interest-bearing	deposits	198		585		391		0.30		0.94		0.65	Short-term	borrowings	13		54		48		1.18		2.23		1.74	Long-term	debt	212		349		321		2.24		3.74		3.57	Total	interest-bearing	liabilities	423		988		760		0.55		1.34		1.06	Net	interest	income$	3,245	$	3,239	$	3,219	Net	interest	rate	spread	2.83		2.91		3.06	Impact	of	noninterest-bearing	funds	on	margin	0.16		0.35		0.27	Net	interest	margin	2.99	%	3.26	%	3.33	%(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	NALs	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.(5)Average	rates	include	the	impact	of	applicable	derivatives.		Loan	and	lease	and	deposit	average	rates	also	include	impact	of	applicable	non-deferrable	and	amortized	fees.2020	Form	10-K					53Table	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis(dollar	amounts	in	millions)Average	BalancesChange	from	2019Change	from	2018Fully-taxable	equivalent	basis	(1)2020AmountPercent2019AmountPercent2018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	3,874	$	3,322		602	%$	552	$	430		352	%$	122	Interest-bearing	deposits	in	banks	176		34		24		142		54		61		88	Securities:Trading	account	securities	59		(77)		(57)		136		40		42		96	Available-for-sale	securities:Taxable	11,392		498		5		10,894		194		2		10,700	Tax-exempt	2,735		(172)		(6)		2,907		(556)		(16)		3,463	Total	available-for-sale	securities	14,127		326		2		13,801		(362)		(3)		14,163	Held-to-maturity	securities—taxable	9,248		603		7		8,645		2		—		8,643	Other	securities	443		(28)		(6)		471		(113)		(19)		584	Total	securities	23,877		824		4		23,053		(433)		(2)		23,486	Loans	held	for	sale	1,121		305		37		816		181		29		635	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	33,917		3,368		11		30,549		1,662		6		28,887	Commercial	real	estate:Construction	1,156		(15)		(1)		1,171		25		2		1,146	Commercial	5,898		196		3		5,702		(347)		(6)		6,049	Commercial	real	estate	7,054		181		3		6,873		(322)		(4)		7,195	Total	commercial	40,971		3,549		9		37,422		1,340		4		36,082	Consumer:Automobile	loans	and	leases	12,838		495		4		12,343		51		—		12,292	Home	equity	8,930		(486)		(5)		9,416		(499)		(5)		9,915	Residential	mortgage	11,694		607		5		11,087		1,180		12		9,907	RV	and	marine	3,876		425		12		3,451		604		21		2,847	Other	consumer	1,086		(173)		(14)		1,259		56		5		1,203	Total	consumer	38,424		868		2		37,556		1,392		4		36,164	Total	loans	and	leases	79,395		4,417		6		74,978		2,732		4		72,246	Allowance	for	loan	and	lease	losses	(1,581)		(795)		(101)		(786)		(39)		(5)		(747)	Net	loans	and	leases	77,814		3,622		5		74,192		2,693		4		71,499	Total	earning	assets	108,443		8,902		9		99,541		2,964		3		96,577	Cash	and	due	from	banks	1,124		282		33		842		(342)		(29)		1,184	Intangible	assets	2,201		(45)		(2)		2,246		(65)		(3)		2,311	All	other	assets	7,045		917		15		6,128		471		8		5,657	Total	assets$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	23,514	$	3,656		18	%$	19,858	$	563		3	%$	19,295	Money	market	deposits	25,695		1,923		8		23,772		2,326		11		21,446	Savings	and	other	domestic	deposits	10,720		804		8		9,916		(1,167)		(11)		11,083	Core	certificates	of	deposit	(4)	2,610		(2,980)		(53)		5,590		1,402		33		4,188	Other	domestic	time	deposits	of	$250,000	or	more	216		(103)		(32)		319		39		14		280	Brokered	time	deposits	and	negotiable	CDs	3,822		1,006		36		2,816		(687)		(20)		3,503	Total	interest-bearing	deposits	66,577		4,306		7		62,271		2,476		4		59,795	Short-term	borrowings	1,147		(1,297)		(53)		2,444		(304)		(11)		2,748	Long-term	debt	9,496		164		2		9,332		340		4		8,992	Total	interest-bearing	liabilities	77,220		3,173		4		74,047		2,512		4		71,535	Demand	deposits—noninterest-bearing	25,336		5,275		26		20,061		(330)		(2)		20,391	All	other	liabilities	2,373		70		3		2,303		306		15		1,997	Shareholders’	equity	12,303		743		6		11,560		501		5		11,059	Total	liabilities	and	shareholders’	equity$	117,232	$	9,261		9	%$	107,971	$	2,989		3	%$	104,982	(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	nonaccrual	loans	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more52					Huntington	Bancshares	IncorporatedTable	3	-	Consolidated	Average	Balance	Sheet	and	Net	Interest	Margin	Analysis	(Continued)(dollar	amounts	in	millions)Interest	Income	/	ExpenseAverage	Rate	(5)Fully-taxable	equivalent	basis	(1)202020192018202020192018AssetsInterest-bearing	deposits	in	Federal	Reserve	Bank	(2)$	6	$	12	$	3		0.15	%	2.12	%	2.33	%Interest-bearing	deposits	in	banks	1		3		2		0.47		2.01		1.97	Securities:Trading	account	securities	2		3		1		3.10		2.17		0.80	Available-for-sale	securities:Taxable	237		295		280		2.08		2.71		2.61	Tax-exempt	77		105		122		2.84		3.61		3.53	Total	available-for-sale	securities	314		400		402		2.23		2.90		2.84	Held-to-maturity	securities—taxable	216		218		211		2.33		2.52		2.44	Other	securities	6		16		25		1.41		3.47		4.34	Total	securities	538		637		639		2.25		2.76		2.72	Loans	held	for	sale	34		31		26		3.06		3.76		4.15	Loans	and	leases:	(3)Commercial:Commercial	and	industrial	1,290		1,441		1,337		3.80		4.72		4.63	Commercial	real	estate:Construction	44		64		60		3.84		5.51		5.26	Commercial	181		273		283		3.07		4.79		4.67	Commercial	real	estate	225		337		343		3.19		4.91		4.77	Total	commercial	1,515		1,778		1,680		3.70		4.75		4.66	Consumer:Automobile	loans	and	leases	504		500		456		3.93		4.05		3.71	Home	equity	358		508		512		4.01		5.40		5.16	Residential	mortgage	406		422		371		3.47		3.81		3.74	RV	and	marine	181		171		145		4.68		4.95		5.09	Other	consumer	125		165		145		11.48		13.11		12.04	Total	consumer	1,574		1,766		1,629		4.10		4.70		4.50	Total	loans	and	leases	3,089		3,544		3,309		3.89		4.73		4.58	Total	earning	assets$	3,668	$	4,227	$	3,979		3.38	%	4.25	%	4.12	%Liabilities	and	Shareholders’	EquityInterest-bearing	deposits:Demand	deposits—interest-bearing$	32	$	116	$	78		0.14	%	0.58	%	0.40	%Money	market	deposits	100		260		148		0.39		1.09		0.69	Savings	and	other	domestic	deposits	10		22		24		0.09		0.22		0.22	Core	certificates	of	deposit	(4)	38		119		72		1.44		2.13		1.72	Other	domestic	time	deposits	of	$250,000	or	more	3		7		3		1.18		1.82		1.25	Brokered	time	deposits	and	negotiable	CDs	15		61		66		0.38		2.18		1.88	Total	interest-bearing	deposits	198		585		391		0.30		0.94		0.65	Short-term	borrowings	13		54		48		1.18		2.23		1.74	Long-term	debt	212		349		321		2.24		3.74		3.57	Total	interest-bearing	liabilities	423		988		760		0.55		1.34		1.06	Net	interest	income$	3,245	$	3,239	$	3,219	Net	interest	rate	spread	2.83		2.91		3.06	Impact	of	noninterest-bearing	funds	on	margin	0.16		0.35		0.27	Net	interest	margin	2.99	%	3.26	%	3.33	%(1)FTE	yields	are	calculated	assuming	a	21%	tax	rate.(2)Deposits	in	Federal	Reserve	Bank	were	treated	as	non-earning	assets	prior	to	4Q	2018.(3)For	purposes	of	this	analysis,	NALs	are	reflected	in	the	average	balances	of	loans.(4)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.(5)Average	rates	include	the	impact	of	applicable	derivatives.		Loan	and	lease	and	deposit	average	rates	also	include	impact	of	applicable	non-deferrable	and	amortized	fees.2020	Form	10-K					532020	versus	2019	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		The	increase	reflects	the	benefit	of	a	$8.9	billion,	or	9%,	increase	in	average	total	earning	assets	partially	offset	by	a		27	basis	point	decrease	in	the	FTE	NIM	to	2.99%.		Average	earning	assets	for	2020	increased	$8.9	billion,	or	9%,	from	the	prior	year,	reflecting	loan	growth	of	$4.4	billion,	or	6%	and	an	increase	of	$3.3	billion	or	602%	in	interest-bearing	deposits	at	the	Federal	Reserve	Bank.		Average	loans	and	leases	increased	$4.4	billion,	or	6%,	primarily	reflecting	an	increase	of	$3.5	billion	in	average	commercial	loans,	primarily	PPP	loans,	and	an	increase	in	average	residential	mortgage	loans	and	RV	and	marine	loans.	Average	total	interest-bearing	liabilities	increased	$3.2	billion,	reflecting	an	increase	in	average	total	interest-bearing	deposits	of	$4.3	billion,	or	7%,	partially	offset	by	a	$1.3	billion	or	53%,		decrease	in	short-term	borrowings.		The	increase	in	average	in	interest	bearing	deposits	was	primarily	driven	by	business	and	commercial	growth	related	to	the	PPP	loans	and	increased	liquidity	levels	in	reaction	to	the	economic	downturn,	consumer	growth	largely	related	to	government	stimulus,	increased	consumer	and	business	banking	account	production,	and	reduced	attrition.		Specifically	within	core	deposits,	average	total	interest	bearing	demand	deposits	increased	$3.7	billion,	or	18%,	and	average	money	market	deposits	increased	$1.9	billion,	or	8%.		These	increases	were	partially	offset	by	a	decrease	in	average	core	CDs	of	$3.0	billion,	or	53%	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Brokered	deposits	and	negotiable	CDs	increased	$1.0	billion	or	36%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a	79	basis	point	decrease	in	average	funding	costs.		The	decline	in	average	earning	asset	yields	is	primarily	due	to	lower	interest	rates	on	loans	(down	84	basis	points),	a	decline	in	securities	yields	and	elevated	deposits	at	the	Federal	Reserve	Bank.		The	decline	in	average	funding	costs	is	primarily	driven	by	lower	cost	of	interest-bearing	deposits	(down	64	basis	points)	and	long-term	debt	(down	150	basis	points).Provision	for	Credit	Losses(This	section	should	be	read	in	conjunction	with	the	“Credit	Risk”	section.)The	provision	for	credit	losses	is	the	expense	necessary	to	maintain	the	ALLL	and	the	AULC	at	levels	appropriate	to	absorb	our	estimate	of	credit	losses	expected	over	the	life	of	the	loan	and	lease	portfolio	and	the	portfolio	of	unfunded	loan	commitments	and	letters	of	credit.The	provision	for	credit	losses	in	2020	was	$1.0	billion,	up	$761	million,	or	265%,	from	2019.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.54					Huntington	Bancshares	IncorporatedNoninterest	IncomeThe	following	table	reflects	noninterest	income	for	each	of	the	periods	presented:	Table	4	-	Noninterest	Income	Year	Ended	December	31,(dollar	amounts	in	millions)Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Mortgage	banking	income$	366	$	199		119	%$	167	$	59		55	%$	108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income$	1,591	$	137		9	%$	1,454	$	133		10	%$	1,321	2020	versus	2019Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Trust	and	investment	management	income	increased	$11	million	due	to	an	increase	in	investment	management	account	fees	and	an	increase	in	personal	trust	income	reflecting	strong	sales	activities	and	market	performance.		While	there	were	no	material	gains	or	losses	on	sales	of	securities	in	the	current	year,	2019	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning.		Offsetting	these	increases,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.		Gains	on	the	sale	of	loans	decreased	$13	million,	or	24%,	due	largely	to	a	decline	in	SBA	sales	gains.		Other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	lower	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	included	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.		2020	Form	10-K					552020	versus	2019	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		The	increase	reflects	the	benefit	of	a	$8.9	billion,	or	9%,	increase	in	average	total	earning	assets	partially	offset	by	a		27	basis	point	decrease	in	the	FTE	NIM	to	2.99%.		Average	earning	assets	for	2020	increased	$8.9	billion,	or	9%,	from	the	prior	year,	reflecting	loan	growth	of	$4.4	billion,	or	6%	and	an	increase	of	$3.3	billion	or	602%	in	interest-bearing	deposits	at	the	Federal	Reserve	Bank.		Average	loans	and	leases	increased	$4.4	billion,	or	6%,	primarily	reflecting	an	increase	of	$3.5	billion	in	average	commercial	loans,	primarily	PPP	loans,	and	an	increase	in	average	residential	mortgage	loans	and	RV	and	marine	loans.	Average	total	interest-bearing	liabilities	increased	$3.2	billion,	reflecting	an	increase	in	average	total	interest-bearing	deposits	of	$4.3	billion,	or	7%,	partially	offset	by	a	$1.3	billion	or	53%,		decrease	in	short-term	borrowings.		The	increase	in	average	in	interest	bearing	deposits	was	primarily	driven	by	business	and	commercial	growth	related	to	the	PPP	loans	and	increased	liquidity	levels	in	reaction	to	the	economic	downturn,	consumer	growth	largely	related	to	government	stimulus,	increased	consumer	and	business	banking	account	production,	and	reduced	attrition.		Specifically	within	core	deposits,	average	total	interest	bearing	demand	deposits	increased	$3.7	billion,	or	18%,	and	average	money	market	deposits	increased	$1.9	billion,	or	8%.		These	increases	were	partially	offset	by	a	decrease	in	average	core	CDs	of	$3.0	billion,	or	53%	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Brokered	deposits	and	negotiable	CDs	increased	$1.0	billion	or	36%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a	79	basis	point	decrease	in	average	funding	costs.		The	decline	in	average	earning	asset	yields	is	primarily	due	to	lower	interest	rates	on	loans	(down	84	basis	points),	a	decline	in	securities	yields	and	elevated	deposits	at	the	Federal	Reserve	Bank.		The	decline	in	average	funding	costs	is	primarily	driven	by	lower	cost	of	interest-bearing	deposits	(down	64	basis	points)	and	long-term	debt	(down	150	basis	points).Provision	for	Credit	Losses(This	section	should	be	read	in	conjunction	with	the	“Credit	Risk”	section.)The	provision	for	credit	losses	is	the	expense	necessary	to	maintain	the	ALLL	and	the	AULC	at	levels	appropriate	to	absorb	our	estimate	of	credit	losses	expected	over	the	life	of	the	loan	and	lease	portfolio	and	the	portfolio	of	unfunded	loan	commitments	and	letters	of	credit.The	provision	for	credit	losses	in	2020	was	$1.0	billion,	up	$761	million,	or	265%,	from	2019.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.54					Huntington	Bancshares	IncorporatedNoninterest	IncomeThe	following	table	reflects	noninterest	income	for	each	of	the	periods	presented:	Table	4	-	Noninterest	Income	Year	Ended	December	31,(dollar	amounts	in	millions)Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Mortgage	banking	income$	366	$	199		119	%$	167	$	59		55	%$	108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income$	1,591	$	137		9	%$	1,454	$	133		10	%$	1,321	2020	versus	2019Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Trust	and	investment	management	income	increased	$11	million	due	to	an	increase	in	investment	management	account	fees	and	an	increase	in	personal	trust	income	reflecting	strong	sales	activities	and	market	performance.		While	there	were	no	material	gains	or	losses	on	sales	of	securities	in	the	current	year,	2019	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning.		Offsetting	these	increases,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.		Gains	on	the	sale	of	loans	decreased	$13	million,	or	24%,	due	largely	to	a	decline	in	SBA	sales	gains.		Other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	lower	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	included	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.		2020	Form	10-K					552020	versus	2019	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		The	increase	reflects	the	benefit	of	a	$8.9	billion,	or	9%,	increase	in	average	total	earning	assets	partially	offset	by	a		27	basis	point	decrease	in	the	FTE	NIM	to	2.99%.		Average	earning	assets	for	2020	increased	$8.9	billion,	or	9%,	from	the	prior	year,	reflecting	loan	growth	of	$4.4	billion,	or	6%	and	an	increase	of	$3.3	billion	or	602%	in	interest-bearing	deposits	at	the	Federal	Reserve	Bank.		Average	loans	and	leases	increased	$4.4	billion,	or	6%,	primarily	reflecting	an	increase	of	$3.5	billion	in	average	commercial	loans,	primarily	PPP	loans,	and	an	increase	in	average	residential	mortgage	loans	and	RV	and	marine	loans.	Average	total	interest-bearing	liabilities	increased	$3.2	billion,	reflecting	an	increase	in	average	total	interest-bearing	deposits	of	$4.3	billion,	or	7%,	partially	offset	by	a	$1.3	billion	or	53%,		decrease	in	short-term	borrowings.		The	increase	in	average	in	interest	bearing	deposits	was	primarily	driven	by	business	and	commercial	growth	related	to	the	PPP	loans	and	increased	liquidity	levels	in	reaction	to	the	economic	downturn,	consumer	growth	largely	related	to	government	stimulus,	increased	consumer	and	business	banking	account	production,	and	reduced	attrition.		Specifically	within	core	deposits,	average	total	interest	bearing	demand	deposits	increased	$3.7	billion,	or	18%,	and	average	money	market	deposits	increased	$1.9	billion,	or	8%.		These	increases	were	partially	offset	by	a	decrease	in	average	core	CDs	of	$3.0	billion,	or	53%	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Brokered	deposits	and	negotiable	CDs	increased	$1.0	billion	or	36%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a	79	basis	point	decrease	in	average	funding	costs.		The	decline	in	average	earning	asset	yields	is	primarily	due	to	lower	interest	rates	on	loans	(down	84	basis	points),	a	decline	in	securities	yields	and	elevated	deposits	at	the	Federal	Reserve	Bank.		The	decline	in	average	funding	costs	is	primarily	driven	by	lower	cost	of	interest-bearing	deposits	(down	64	basis	points)	and	long-term	debt	(down	150	basis	points).Provision	for	Credit	Losses(This	section	should	be	read	in	conjunction	with	the	“Credit	Risk”	section.)The	provision	for	credit	losses	is	the	expense	necessary	to	maintain	the	ALLL	and	the	AULC	at	levels	appropriate	to	absorb	our	estimate	of	credit	losses	expected	over	the	life	of	the	loan	and	lease	portfolio	and	the	portfolio	of	unfunded	loan	commitments	and	letters	of	credit.The	provision	for	credit	losses	in	2020	was	$1.0	billion,	up	$761	million,	or	265%,	from	2019.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.54					Huntington	Bancshares	IncorporatedNoninterest	IncomeThe	following	table	reflects	noninterest	income	for	each	of	the	periods	presented:	Table	4	-	Noninterest	Income	Year	Ended	December	31,(dollar	amounts	in	millions)Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Mortgage	banking	income$	366	$	199		119	%$	167	$	59		55	%$	108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income$	1,591	$	137		9	%$	1,454	$	133		10	%$	1,321	2020	versus	2019Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Trust	and	investment	management	income	increased	$11	million	due	to	an	increase	in	investment	management	account	fees	and	an	increase	in	personal	trust	income	reflecting	strong	sales	activities	and	market	performance.		While	there	were	no	material	gains	or	losses	on	sales	of	securities	in	the	current	year,	2019	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning.		Offsetting	these	increases,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.		Gains	on	the	sale	of	loans	decreased	$13	million,	or	24%,	due	largely	to	a	decline	in	SBA	sales	gains.		Other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	lower	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	included	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.		2020	Form	10-K					552020	versus	2019	Fully-taxable	equivalent	net	interest	income	for	2020	increased	$6	million	from	2019.		The	increase	reflects	the	benefit	of	a	$8.9	billion,	or	9%,	increase	in	average	total	earning	assets	partially	offset	by	a		27	basis	point	decrease	in	the	FTE	NIM	to	2.99%.		Average	earning	assets	for	2020	increased	$8.9	billion,	or	9%,	from	the	prior	year,	reflecting	loan	growth	of	$4.4	billion,	or	6%	and	an	increase	of	$3.3	billion	or	602%	in	interest-bearing	deposits	at	the	Federal	Reserve	Bank.		Average	loans	and	leases	increased	$4.4	billion,	or	6%,	primarily	reflecting	an	increase	of	$3.5	billion	in	average	commercial	loans,	primarily	PPP	loans,	and	an	increase	in	average	residential	mortgage	loans	and	RV	and	marine	loans.	Average	total	interest-bearing	liabilities	increased	$3.2	billion,	reflecting	an	increase	in	average	total	interest-bearing	deposits	of	$4.3	billion,	or	7%,	partially	offset	by	a	$1.3	billion	or	53%,		decrease	in	short-term	borrowings.		The	increase	in	average	in	interest	bearing	deposits	was	primarily	driven	by	business	and	commercial	growth	related	to	the	PPP	loans	and	increased	liquidity	levels	in	reaction	to	the	economic	downturn,	consumer	growth	largely	related	to	government	stimulus,	increased	consumer	and	business	banking	account	production,	and	reduced	attrition.		Specifically	within	core	deposits,	average	total	interest	bearing	demand	deposits	increased	$3.7	billion,	or	18%,	and	average	money	market	deposits	increased	$1.9	billion,	or	8%.		These	increases	were	partially	offset	by	a	decrease	in	average	core	CDs	of	$3.0	billion,	or	53%	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Brokered	deposits	and	negotiable	CDs	increased	$1.0	billion	or	36%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.The	NIM	compression	reflected	an	87	basis	point	decline	in	average	earning	asset	yields,	a	19	basis	point	decline	in	the	benefit	from	noninterest-bearing	funds,	partially	offset	by	a	79	basis	point	decrease	in	average	funding	costs.		The	decline	in	average	earning	asset	yields	is	primarily	due	to	lower	interest	rates	on	loans	(down	84	basis	points),	a	decline	in	securities	yields	and	elevated	deposits	at	the	Federal	Reserve	Bank.		The	decline	in	average	funding	costs	is	primarily	driven	by	lower	cost	of	interest-bearing	deposits	(down	64	basis	points)	and	long-term	debt	(down	150	basis	points).Provision	for	Credit	Losses(This	section	should	be	read	in	conjunction	with	the	“Credit	Risk”	section.)The	provision	for	credit	losses	is	the	expense	necessary	to	maintain	the	ALLL	and	the	AULC	at	levels	appropriate	to	absorb	our	estimate	of	credit	losses	expected	over	the	life	of	the	loan	and	lease	portfolio	and	the	portfolio	of	unfunded	loan	commitments	and	letters	of	credit.The	provision	for	credit	losses	in	2020	was	$1.0	billion,	up	$761	million,	or	265%,	from	2019.		The	increase	in	provision	expense	over	the	prior	year	was	primarily	attributed	to	the	deterioration	in	the	macroeconomic	environment	resulting	from	the	COVID-19	pandemic	and	risk	rating	downgrades	within	the	commercial	portfolio.54					Huntington	Bancshares	IncorporatedNoninterest	IncomeThe	following	table	reflects	noninterest	income	for	each	of	the	periods	presented:	Table	4	-	Noninterest	Income	Year	Ended	December	31,(dollar	amounts	in	millions)Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Mortgage	banking	income$	366	$	199		119	%$	167	$	59		55	%$	108	Service	charges	on	deposit	accounts		301		(71)		(19)		372		8		2		364	Card	and	payment	processing	income	248		2		1		246		22		10		224	Trust	and	investment	management	services	189		11		6		178		7		4		171	Capital	markets	fees	125		2		2		123		15		14		108	Insurance	income	97		9		10		88		6		7		82	Bank	owned	life	insurance	income	64		(2)		(3)		66		(1)		(1)		67	Gain	on	sale	of	loans	42		(13)		(24)		55		—		—		55	Net	(losses)	gains	on	sales	of	securities	(1)		23		96		(24)		(3)		(14)		(21)	Other	noninterest	income	160		(23)		(13)		183		20		12		163	Total	noninterest	income$	1,591	$	137		9	%$	1,454	$	133		10	%$	1,321	2020	versus	2019Noninterest	income	was	$1.6	billion,	up	$137	million,	or	9%,	from	the	prior	year.		Mortgage	banking	income	increased	$199	million,	or	119%,	primarily	reflecting	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Trust	and	investment	management	income	increased	$11	million	due	to	an	increase	in	investment	management	account	fees	and	an	increase	in	personal	trust	income	reflecting	strong	sales	activities	and	market	performance.		While	there	were	no	material	gains	or	losses	on	sales	of	securities	in	the	current	year,	2019	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning.		Offsetting	these	increases,	service	charges	on	deposit	accounts	decreased	$71	million,	or	19%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.		Gains	on	the	sale	of	loans	decreased	$13	million,	or	24%,	due	largely	to	a	decline	in	SBA	sales	gains.		Other	noninterest	income	decreased	$23	million,	or	13%,	reflecting	several	notable	items	impacting	both	periods	as	well	as	lower	fixed	income	brokerage	revenue,	lower	deposit	placement	fees	and	operating	lease	income.		Notable	items	in	2020	included	a	$13	million	gain	on	the	annuitization	of	a	retiree	health	plan	and	a	$5	million	gain	on	the	sale	of	the	retirement	plan	services	recordkeeping	business	whereas	2019	included	a	$14	million	gain	from	the	sale	of	Wisconsin	retail	branches.		2020	Form	10-K					55Noninterest	ExpenseThe	following	table	reflects	noninterest	expense	for	each	of	the	periods	presented:	Table	5	-	Noninterest	Expense	Year	Ended	December	31,(dollar	amounts	in	millions)	Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Personnel	costs$	1,692	$	38		2	%$	1,654	$	95		6	%$	1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense$	2,795	$	74		3	%$	2,721	$	74		3	%$	2,647	Number	of	employees	(average	full-time	equivalent)	15,578		(86)		(1)	%	15,664		(29)		—	%	15,693	2020	versus	2019Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Personnel	costs	increased	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	a	$23	million	decrease	in	travel	and	business	development	expense	and	a	$7	million	insurance	recovery	in	third	quarter	2020.		These	decreases	were	partially	offset	by	the	$7	million	of	expense	related	to	the	November	2020	debt	tender	and	a	$20	million	donation	to	The	Columbus	Foundation	compared	to	a	$5	million	donation	during	2019.	Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)2020	versus	2019The	provision	for	income	taxes	was	$155	million	for	2020	compared	with	a	provision	for	income	taxes	of	$248	million	in	2019.		The	effective	tax	rates	for	2020	and	2019	were	15.9%	and	15.0%,	respectively.		Both	years	included	the	benefits	from	tax-exempt	income,	tax-advantaged	investments,	general	business	credits,	investments	in	qualified	affordable	housing	projects,	excess	tax	deductions	for	stock-based	compensation,	and	capital	losses.		As	of	December	31,	2020	and	2019	there	was	no	valuation	allowance	on	federal	deferred	taxes.		In	2020,	a	$5	million	increase	in	the	provision	for	state	income	taxes,	net	of	federal,	was	recorded	for	the	portion	of	state	deferred	tax	assets	that	are	not	more	likely	than	not	to	be	realized,	compared	to	2019,	where	there	was	essentially	no	change.		RISK	MANAGEMENT	AND	CAPITALRisk	GovernanceWe	use	a	multi-faceted	approach	to	risk	governance.		It	begins	with	the	Board	of	Directors	defining	our	risk	appetite	as	aggregate	moderate-to-low.		This	does	not	preclude	engagement	in	select	higher	risk	activities.		Rather,	the	definition	is	intended	to	represent	an	aggregate	view	of	where	we	want	our	overall	risk	to	be	managed.56					Huntington	Bancshares	IncorporatedThree	board	committees	primarily	oversee	implementation	of	this	desired	risk	appetite	and	monitoring	of	our	risk	profile:	•The	Audit	Committee	oversees	the	integrity	of	the	consolidated	financial	statements,	including	policies,	procedures,	and	practices	regarding	the	preparation	of	financial	statements,	the	financial	reporting	process,	disclosures,	and	internal	control	over	financial	reporting.		The	Audit	Committee	also	provides	assistance	to	the	board	in	overseeing	the	internal	audit	division	and	the	independent	registered	public	accounting	firm’s	qualifications	and	independence;	compliance	with	our	Financial	Code	of	Ethics	for	the	chief	executive	officer	and	senior	financial	officers;	and	compliance	with	corporate	securities	trading	policies.•The	Risk	Oversight	Committee	assists	the	board	of	directors	in	overseeing	management	of	material	risks,	the	approval	and	monitoring	of	the	Company’s	capital	position	and	plan	supporting	our	overall	aggregate	moderate-to-low	risk	profile,	the	risk	governance	structure,	compliance	with	applicable	laws	and	regulations,	and	determining	adherence	to	the	board’s	stated	risk	appetite.		The	committee	has	oversight	responsibility	with	respect	to	the	full	range	of	inherent	risks:	credit,	market,	liquidity,	legal,	compliance/regulatory,	operational,	strategic,	and	reputational.		The	ROC	provides	assistance	to	the	Board	in	overseeing	the	credit	review	division.		This	committee	also	oversees	our	capital	management	and	planning	process,	ensures	that	the	amount	and	quality	of	capital	are	adequate	in	relation	to	expected	and	unexpected	risks,	and	that	our	capital	levels	exceed	“well-capitalized”	requirements.	•The	Technology	Committee	assists	the	board	of	directors	in	fulfilling	its	oversight	responsibilities	with	respect	to	all	technology,	cyber	security,	and	third-party	risk	management	strategies	and	plans.		The	committee	is	charged	with	evaluating	Huntington’s	capability	to	properly	perform	all	technology	functions	necessary	for	its	business	plan,	including	projected	growth,	technology	capacity,	planning,	operational	execution,	product	development,	and	management	capacity.		The	committee	provides	oversight	of	technology	investments	and	plans	to	drive	efficiency	as	well	as	to	meet	defined	standards	for	risk,	information	security,	and	redundancy.		The	Committee	oversees	the	allocation	of	technology	costs	and	ensures	that	they	are	understood	by	the	board	of	directors.		The	Technology	Committee	monitors	and	evaluates	innovation	and	technology	trends	that	may	affect	the	Company’s	strategic	plans,	including	monitoring	of	overall	industry	trends.		The	Technology	Committee	reviews	and	provides	oversight	of	the	Company’s	continuity	and	disaster	recovery	planning	and	preparedness.The	Audit	and	Risk	Oversight	Committees	routinely	hold	executive	sessions	with	our	key	officers	engaged	in	accounting	and	risk	management.		On	a	periodic	basis,	the	two	committees	meet	in	joint	session	to	cover	matters	relevant	to	both,	such	as	the	construct	and	appropriateness	of	the	ACL,	which	is	reviewed	quarterly.		All	directors	have	access	to	information	provided	to	each	committee	and	all	scheduled	meetings	are	open	to	all	directors.The	Risk	Oversight	and	Technology	Committees	routinely	hold	joint	sessions	to	cover	matters	relevant	to	both	such	as	cybersecurity	and	IT	risk	and	control	projects	and	risk	assessments.Further,	through	its	Compensation	Committee,	the	board	of	directors	seeks	to	ensure	its	system	of	rewards	is	risk-sensitive	and	aligns	the	interests	of	management,	creditors,	and	shareholders.		We	utilize	a	variety	of	compensation-related	tools	to	induce	appropriate	behavior,	including	common	stock	ownership	thresholds	for	the	chief	executive	officer	and	certain	members	of	senior	management,	a	requirement	to	hold	until	retirement	or	exit	from	the	Company,	a	portion	of	net	shares	received	upon	exercise	of	stock	options	or	release	of	restricted	stock	awards	(50%	for	executive	officers	and	25%	for	other	award	recipients),	equity	deferrals,	recoupment	provisions,	and	the	right	to	terminate	compensation	plans	at	any	time.Management	has	implemented	an	Enterprise	Risk	Management	and	Risk	Appetite	Framework.		Critically	important	is	our	self-assessment	process,	in	which	each	business	segment	produces	an	analysis	of	its	risks	and	the	strength	of	its	risk	controls.		The	segment	analyses	are	combined	with	assessments	by	our	risk	management	organization	of	major	risk	sectors	(e.g.,	credit,	market,	liquidity,	operational,	compliance,	strategic,	and	reputation)	to	produce	an	overall	enterprise	risk	assessment.		Outcomes	of	the	process	include	a	determination	of	the	quality	of	the	overall	control	process,	the	direction	of	risk,	and	our	position	compared	to	the	defined	risk	appetite.Management	also	utilizes	a	wide	series	of	metrics	(key	risk	indicators)	to	monitor	risk	positions	throughout	the	Company.		In	general,	a	range	for	each	metric	is	established,	which	allows	the	Company,	in	aggregate,	to	operate	2020	Form	10-K					57Noninterest	ExpenseThe	following	table	reflects	noninterest	expense	for	each	of	the	periods	presented:	Table	5	-	Noninterest	Expense	Year	Ended	December	31,(dollar	amounts	in	millions)	Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Personnel	costs$	1,692	$	38		2	%$	1,654	$	95		6	%$	1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense$	2,795	$	74		3	%$	2,721	$	74		3	%$	2,647	Number	of	employees	(average	full-time	equivalent)	15,578		(86)		(1)	%	15,664		(29)		—	%	15,693	2020	versus	2019Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Personnel	costs	increased	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	a	$23	million	decrease	in	travel	and	business	development	expense	and	a	$7	million	insurance	recovery	in	third	quarter	2020.		These	decreases	were	partially	offset	by	the	$7	million	of	expense	related	to	the	November	2020	debt	tender	and	a	$20	million	donation	to	The	Columbus	Foundation	compared	to	a	$5	million	donation	during	2019.	Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)2020	versus	2019The	provision	for	income	taxes	was	$155	million	for	2020	compared	with	a	provision	for	income	taxes	of	$248	million	in	2019.		The	effective	tax	rates	for	2020	and	2019	were	15.9%	and	15.0%,	respectively.		Both	years	included	the	benefits	from	tax-exempt	income,	tax-advantaged	investments,	general	business	credits,	investments	in	qualified	affordable	housing	projects,	excess	tax	deductions	for	stock-based	compensation,	and	capital	losses.		As	of	December	31,	2020	and	2019	there	was	no	valuation	allowance	on	federal	deferred	taxes.		In	2020,	a	$5	million	increase	in	the	provision	for	state	income	taxes,	net	of	federal,	was	recorded	for	the	portion	of	state	deferred	tax	assets	that	are	not	more	likely	than	not	to	be	realized,	compared	to	2019,	where	there	was	essentially	no	change.		RISK	MANAGEMENT	AND	CAPITALRisk	GovernanceWe	use	a	multi-faceted	approach	to	risk	governance.		It	begins	with	the	Board	of	Directors	defining	our	risk	appetite	as	aggregate	moderate-to-low.		This	does	not	preclude	engagement	in	select	higher	risk	activities.		Rather,	the	definition	is	intended	to	represent	an	aggregate	view	of	where	we	want	our	overall	risk	to	be	managed.56					Huntington	Bancshares	IncorporatedThree	board	committees	primarily	oversee	implementation	of	this	desired	risk	appetite	and	monitoring	of	our	risk	profile:	•The	Audit	Committee	oversees	the	integrity	of	the	consolidated	financial	statements,	including	policies,	procedures,	and	practices	regarding	the	preparation	of	financial	statements,	the	financial	reporting	process,	disclosures,	and	internal	control	over	financial	reporting.		The	Audit	Committee	also	provides	assistance	to	the	board	in	overseeing	the	internal	audit	division	and	the	independent	registered	public	accounting	firm’s	qualifications	and	independence;	compliance	with	our	Financial	Code	of	Ethics	for	the	chief	executive	officer	and	senior	financial	officers;	and	compliance	with	corporate	securities	trading	policies.•The	Risk	Oversight	Committee	assists	the	board	of	directors	in	overseeing	management	of	material	risks,	the	approval	and	monitoring	of	the	Company’s	capital	position	and	plan	supporting	our	overall	aggregate	moderate-to-low	risk	profile,	the	risk	governance	structure,	compliance	with	applicable	laws	and	regulations,	and	determining	adherence	to	the	board’s	stated	risk	appetite.		The	committee	has	oversight	responsibility	with	respect	to	the	full	range	of	inherent	risks:	credit,	market,	liquidity,	legal,	compliance/regulatory,	operational,	strategic,	and	reputational.		The	ROC	provides	assistance	to	the	Board	in	overseeing	the	credit	review	division.		This	committee	also	oversees	our	capital	management	and	planning	process,	ensures	that	the	amount	and	quality	of	capital	are	adequate	in	relation	to	expected	and	unexpected	risks,	and	that	our	capital	levels	exceed	“well-capitalized”	requirements.	•The	Technology	Committee	assists	the	board	of	directors	in	fulfilling	its	oversight	responsibilities	with	respect	to	all	technology,	cyber	security,	and	third-party	risk	management	strategies	and	plans.		The	committee	is	charged	with	evaluating	Huntington’s	capability	to	properly	perform	all	technology	functions	necessary	for	its	business	plan,	including	projected	growth,	technology	capacity,	planning,	operational	execution,	product	development,	and	management	capacity.		The	committee	provides	oversight	of	technology	investments	and	plans	to	drive	efficiency	as	well	as	to	meet	defined	standards	for	risk,	information	security,	and	redundancy.		The	Committee	oversees	the	allocation	of	technology	costs	and	ensures	that	they	are	understood	by	the	board	of	directors.		The	Technology	Committee	monitors	and	evaluates	innovation	and	technology	trends	that	may	affect	the	Company’s	strategic	plans,	including	monitoring	of	overall	industry	trends.		The	Technology	Committee	reviews	and	provides	oversight	of	the	Company’s	continuity	and	disaster	recovery	planning	and	preparedness.The	Audit	and	Risk	Oversight	Committees	routinely	hold	executive	sessions	with	our	key	officers	engaged	in	accounting	and	risk	management.		On	a	periodic	basis,	the	two	committees	meet	in	joint	session	to	cover	matters	relevant	to	both,	such	as	the	construct	and	appropriateness	of	the	ACL,	which	is	reviewed	quarterly.		All	directors	have	access	to	information	provided	to	each	committee	and	all	scheduled	meetings	are	open	to	all	directors.The	Risk	Oversight	and	Technology	Committees	routinely	hold	joint	sessions	to	cover	matters	relevant	to	both	such	as	cybersecurity	and	IT	risk	and	control	projects	and	risk	assessments.Further,	through	its	Compensation	Committee,	the	board	of	directors	seeks	to	ensure	its	system	of	rewards	is	risk-sensitive	and	aligns	the	interests	of	management,	creditors,	and	shareholders.		We	utilize	a	variety	of	compensation-related	tools	to	induce	appropriate	behavior,	including	common	stock	ownership	thresholds	for	the	chief	executive	officer	and	certain	members	of	senior	management,	a	requirement	to	hold	until	retirement	or	exit	from	the	Company,	a	portion	of	net	shares	received	upon	exercise	of	stock	options	or	release	of	restricted	stock	awards	(50%	for	executive	officers	and	25%	for	other	award	recipients),	equity	deferrals,	recoupment	provisions,	and	the	right	to	terminate	compensation	plans	at	any	time.Management	has	implemented	an	Enterprise	Risk	Management	and	Risk	Appetite	Framework.		Critically	important	is	our	self-assessment	process,	in	which	each	business	segment	produces	an	analysis	of	its	risks	and	the	strength	of	its	risk	controls.		The	segment	analyses	are	combined	with	assessments	by	our	risk	management	organization	of	major	risk	sectors	(e.g.,	credit,	market,	liquidity,	operational,	compliance,	strategic,	and	reputation)	to	produce	an	overall	enterprise	risk	assessment.		Outcomes	of	the	process	include	a	determination	of	the	quality	of	the	overall	control	process,	the	direction	of	risk,	and	our	position	compared	to	the	defined	risk	appetite.Management	also	utilizes	a	wide	series	of	metrics	(key	risk	indicators)	to	monitor	risk	positions	throughout	the	Company.		In	general,	a	range	for	each	metric	is	established,	which	allows	the	Company,	in	aggregate,	to	operate	2020	Form	10-K					57Noninterest	ExpenseThe	following	table	reflects	noninterest	expense	for	each	of	the	periods	presented:	Table	5	-	Noninterest	Expense	Year	Ended	December	31,(dollar	amounts	in	millions)	Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Personnel	costs$	1,692	$	38		2	%$	1,654	$	95		6	%$	1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense$	2,795	$	74		3	%$	2,721	$	74		3	%$	2,647	Number	of	employees	(average	full-time	equivalent)	15,578		(86)		(1)	%	15,664		(29)		—	%	15,693	2020	versus	2019Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Personnel	costs	increased	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	a	$23	million	decrease	in	travel	and	business	development	expense	and	a	$7	million	insurance	recovery	in	third	quarter	2020.		These	decreases	were	partially	offset	by	the	$7	million	of	expense	related	to	the	November	2020	debt	tender	and	a	$20	million	donation	to	The	Columbus	Foundation	compared	to	a	$5	million	donation	during	2019.	Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)2020	versus	2019The	provision	for	income	taxes	was	$155	million	for	2020	compared	with	a	provision	for	income	taxes	of	$248	million	in	2019.		The	effective	tax	rates	for	2020	and	2019	were	15.9%	and	15.0%,	respectively.		Both	years	included	the	benefits	from	tax-exempt	income,	tax-advantaged	investments,	general	business	credits,	investments	in	qualified	affordable	housing	projects,	excess	tax	deductions	for	stock-based	compensation,	and	capital	losses.		As	of	December	31,	2020	and	2019	there	was	no	valuation	allowance	on	federal	deferred	taxes.		In	2020,	a	$5	million	increase	in	the	provision	for	state	income	taxes,	net	of	federal,	was	recorded	for	the	portion	of	state	deferred	tax	assets	that	are	not	more	likely	than	not	to	be	realized,	compared	to	2019,	where	there	was	essentially	no	change.		RISK	MANAGEMENT	AND	CAPITALRisk	GovernanceWe	use	a	multi-faceted	approach	to	risk	governance.		It	begins	with	the	Board	of	Directors	defining	our	risk	appetite	as	aggregate	moderate-to-low.		This	does	not	preclude	engagement	in	select	higher	risk	activities.		Rather,	the	definition	is	intended	to	represent	an	aggregate	view	of	where	we	want	our	overall	risk	to	be	managed.56					Huntington	Bancshares	IncorporatedThree	board	committees	primarily	oversee	implementation	of	this	desired	risk	appetite	and	monitoring	of	our	risk	profile:	•The	Audit	Committee	oversees	the	integrity	of	the	consolidated	financial	statements,	including	policies,	procedures,	and	practices	regarding	the	preparation	of	financial	statements,	the	financial	reporting	process,	disclosures,	and	internal	control	over	financial	reporting.		The	Audit	Committee	also	provides	assistance	to	the	board	in	overseeing	the	internal	audit	division	and	the	independent	registered	public	accounting	firm’s	qualifications	and	independence;	compliance	with	our	Financial	Code	of	Ethics	for	the	chief	executive	officer	and	senior	financial	officers;	and	compliance	with	corporate	securities	trading	policies.•The	Risk	Oversight	Committee	assists	the	board	of	directors	in	overseeing	management	of	material	risks,	the	approval	and	monitoring	of	the	Company’s	capital	position	and	plan	supporting	our	overall	aggregate	moderate-to-low	risk	profile,	the	risk	governance	structure,	compliance	with	applicable	laws	and	regulations,	and	determining	adherence	to	the	board’s	stated	risk	appetite.		The	committee	has	oversight	responsibility	with	respect	to	the	full	range	of	inherent	risks:	credit,	market,	liquidity,	legal,	compliance/regulatory,	operational,	strategic,	and	reputational.		The	ROC	provides	assistance	to	the	Board	in	overseeing	the	credit	review	division.		This	committee	also	oversees	our	capital	management	and	planning	process,	ensures	that	the	amount	and	quality	of	capital	are	adequate	in	relation	to	expected	and	unexpected	risks,	and	that	our	capital	levels	exceed	“well-capitalized”	requirements.	•The	Technology	Committee	assists	the	board	of	directors	in	fulfilling	its	oversight	responsibilities	with	respect	to	all	technology,	cyber	security,	and	third-party	risk	management	strategies	and	plans.		The	committee	is	charged	with	evaluating	Huntington’s	capability	to	properly	perform	all	technology	functions	necessary	for	its	business	plan,	including	projected	growth,	technology	capacity,	planning,	operational	execution,	product	development,	and	management	capacity.		The	committee	provides	oversight	of	technology	investments	and	plans	to	drive	efficiency	as	well	as	to	meet	defined	standards	for	risk,	information	security,	and	redundancy.		The	Committee	oversees	the	allocation	of	technology	costs	and	ensures	that	they	are	understood	by	the	board	of	directors.		The	Technology	Committee	monitors	and	evaluates	innovation	and	technology	trends	that	may	affect	the	Company’s	strategic	plans,	including	monitoring	of	overall	industry	trends.		The	Technology	Committee	reviews	and	provides	oversight	of	the	Company’s	continuity	and	disaster	recovery	planning	and	preparedness.The	Audit	and	Risk	Oversight	Committees	routinely	hold	executive	sessions	with	our	key	officers	engaged	in	accounting	and	risk	management.		On	a	periodic	basis,	the	two	committees	meet	in	joint	session	to	cover	matters	relevant	to	both,	such	as	the	construct	and	appropriateness	of	the	ACL,	which	is	reviewed	quarterly.		All	directors	have	access	to	information	provided	to	each	committee	and	all	scheduled	meetings	are	open	to	all	directors.The	Risk	Oversight	and	Technology	Committees	routinely	hold	joint	sessions	to	cover	matters	relevant	to	both	such	as	cybersecurity	and	IT	risk	and	control	projects	and	risk	assessments.Further,	through	its	Compensation	Committee,	the	board	of	directors	seeks	to	ensure	its	system	of	rewards	is	risk-sensitive	and	aligns	the	interests	of	management,	creditors,	and	shareholders.		We	utilize	a	variety	of	compensation-related	tools	to	induce	appropriate	behavior,	including	common	stock	ownership	thresholds	for	the	chief	executive	officer	and	certain	members	of	senior	management,	a	requirement	to	hold	until	retirement	or	exit	from	the	Company,	a	portion	of	net	shares	received	upon	exercise	of	stock	options	or	release	of	restricted	stock	awards	(50%	for	executive	officers	and	25%	for	other	award	recipients),	equity	deferrals,	recoupment	provisions,	and	the	right	to	terminate	compensation	plans	at	any	time.Management	has	implemented	an	Enterprise	Risk	Management	and	Risk	Appetite	Framework.		Critically	important	is	our	self-assessment	process,	in	which	each	business	segment	produces	an	analysis	of	its	risks	and	the	strength	of	its	risk	controls.		The	segment	analyses	are	combined	with	assessments	by	our	risk	management	organization	of	major	risk	sectors	(e.g.,	credit,	market,	liquidity,	operational,	compliance,	strategic,	and	reputation)	to	produce	an	overall	enterprise	risk	assessment.		Outcomes	of	the	process	include	a	determination	of	the	quality	of	the	overall	control	process,	the	direction	of	risk,	and	our	position	compared	to	the	defined	risk	appetite.Management	also	utilizes	a	wide	series	of	metrics	(key	risk	indicators)	to	monitor	risk	positions	throughout	the	Company.		In	general,	a	range	for	each	metric	is	established,	which	allows	the	Company,	in	aggregate,	to	operate	2020	Form	10-K					57Noninterest	ExpenseThe	following	table	reflects	noninterest	expense	for	each	of	the	periods	presented:	Table	5	-	Noninterest	Expense	Year	Ended	December	31,(dollar	amounts	in	millions)	Change	from	2019	Change	from	2018	2020AmountPercent2019AmountPercent2018Personnel	costs$	1,692	$	38		2	%$	1,654	$	95		6	%$	1,559	Outside	data	processing	and	other	services	384		38		11		346		52		18		294	Equipment	180		17		10		163		(1)		(1)		164	Net	occupancy	158		(1)		(1)		159		(25)		(14)		184	Professional	services	55		1		2		54		(6)		(10)		60	Amortization	of	intangibles	41		(8)		(16)		49		(4)		(8)		53	Marketing	38		1		3		37		(16)		(30)		53	Deposit	and	other	insurance	expense	32		(2)		(6)		34		(29)		(46)		63	Other	noninterest	expense	215		(10)		(4)		225		8		4		217	Total	noninterest	expense$	2,795	$	74		3	%$	2,721	$	74		3	%$	2,647	Number	of	employees	(average	full-time	equivalent)	15,578		(86)		(1)	%	15,664		(29)		—	%	15,693	2020	versus	2019Noninterest	expense	was	$2.8	billion,	up	$74	million,	or	3%,	from	the	prior	year.		Personnel	costs	increased	$38	million,	or	2%,	primarily	reflecting	increased	salaries,	incentives,	commissions,	contract	help	and	overtime	expense	partially	offset	by	lower	payroll	taxes.		Outside	data	processing	and	other	services	increased	$38	million,	or	11%,	primarily	driven	by	expenses	related	to	technology	investments.		Equipment	expense	increased	$17	million	driven	by	increased	depreciation	and	software	development	expense.		Other	noninterest	expense	decreased	$10	million,	or	4%,	primarily	as	a	result	of	a	$23	million	decrease	in	travel	and	business	development	expense	and	a	$7	million	insurance	recovery	in	third	quarter	2020.		These	decreases	were	partially	offset	by	the	$7	million	of	expense	related	to	the	November	2020	debt	tender	and	a	$20	million	donation	to	The	Columbus	Foundation	compared	to	a	$5	million	donation	during	2019.	Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)2020	versus	2019The	provision	for	income	taxes	was	$155	million	for	2020	compared	with	a	provision	for	income	taxes	of	$248	million	in	2019.		The	effective	tax	rates	for	2020	and	2019	were	15.9%	and	15.0%,	respectively.		Both	years	included	the	benefits	from	tax-exempt	income,	tax-advantaged	investments,	general	business	credits,	investments	in	qualified	affordable	housing	projects,	excess	tax	deductions	for	stock-based	compensation,	and	capital	losses.		As	of	December	31,	2020	and	2019	there	was	no	valuation	allowance	on	federal	deferred	taxes.		In	2020,	a	$5	million	increase	in	the	provision	for	state	income	taxes,	net	of	federal,	was	recorded	for	the	portion	of	state	deferred	tax	assets	that	are	not	more	likely	than	not	to	be	realized,	compared	to	2019,	where	there	was	essentially	no	change.		RISK	MANAGEMENT	AND	CAPITALRisk	GovernanceWe	use	a	multi-faceted	approach	to	risk	governance.		It	begins	with	the	Board	of	Directors	defining	our	risk	appetite	as	aggregate	moderate-to-low.		This	does	not	preclude	engagement	in	select	higher	risk	activities.		Rather,	the	definition	is	intended	to	represent	an	aggregate	view	of	where	we	want	our	overall	risk	to	be	managed.56					Huntington	Bancshares	IncorporatedThree	board	committees	primarily	oversee	implementation	of	this	desired	risk	appetite	and	monitoring	of	our	risk	profile:	•The	Audit	Committee	oversees	the	integrity	of	the	consolidated	financial	statements,	including	policies,	procedures,	and	practices	regarding	the	preparation	of	financial	statements,	the	financial	reporting	process,	disclosures,	and	internal	control	over	financial	reporting.		The	Audit	Committee	also	provides	assistance	to	the	board	in	overseeing	the	internal	audit	division	and	the	independent	registered	public	accounting	firm’s	qualifications	and	independence;	compliance	with	our	Financial	Code	of	Ethics	for	the	chief	executive	officer	and	senior	financial	officers;	and	compliance	with	corporate	securities	trading	policies.•The	Risk	Oversight	Committee	assists	the	board	of	directors	in	overseeing	management	of	material	risks,	the	approval	and	monitoring	of	the	Company’s	capital	position	and	plan	supporting	our	overall	aggregate	moderate-to-low	risk	profile,	the	risk	governance	structure,	compliance	with	applicable	laws	and	regulations,	and	determining	adherence	to	the	board’s	stated	risk	appetite.		The	committee	has	oversight	responsibility	with	respect	to	the	full	range	of	inherent	risks:	credit,	market,	liquidity,	legal,	compliance/regulatory,	operational,	strategic,	and	reputational.		The	ROC	provides	assistance	to	the	Board	in	overseeing	the	credit	review	division.		This	committee	also	oversees	our	capital	management	and	planning	process,	ensures	that	the	amount	and	quality	of	capital	are	adequate	in	relation	to	expected	and	unexpected	risks,	and	that	our	capital	levels	exceed	“well-capitalized”	requirements.	•The	Technology	Committee	assists	the	board	of	directors	in	fulfilling	its	oversight	responsibilities	with	respect	to	all	technology,	cyber	security,	and	third-party	risk	management	strategies	and	plans.		The	committee	is	charged	with	evaluating	Huntington’s	capability	to	properly	perform	all	technology	functions	necessary	for	its	business	plan,	including	projected	growth,	technology	capacity,	planning,	operational	execution,	product	development,	and	management	capacity.		The	committee	provides	oversight	of	technology	investments	and	plans	to	drive	efficiency	as	well	as	to	meet	defined	standards	for	risk,	information	security,	and	redundancy.		The	Committee	oversees	the	allocation	of	technology	costs	and	ensures	that	they	are	understood	by	the	board	of	directors.		The	Technology	Committee	monitors	and	evaluates	innovation	and	technology	trends	that	may	affect	the	Company’s	strategic	plans,	including	monitoring	of	overall	industry	trends.		The	Technology	Committee	reviews	and	provides	oversight	of	the	Company’s	continuity	and	disaster	recovery	planning	and	preparedness.The	Audit	and	Risk	Oversight	Committees	routinely	hold	executive	sessions	with	our	key	officers	engaged	in	accounting	and	risk	management.		On	a	periodic	basis,	the	two	committees	meet	in	joint	session	to	cover	matters	relevant	to	both,	such	as	the	construct	and	appropriateness	of	the	ACL,	which	is	reviewed	quarterly.		All	directors	have	access	to	information	provided	to	each	committee	and	all	scheduled	meetings	are	open	to	all	directors.The	Risk	Oversight	and	Technology	Committees	routinely	hold	joint	sessions	to	cover	matters	relevant	to	both	such	as	cybersecurity	and	IT	risk	and	control	projects	and	risk	assessments.Further,	through	its	Compensation	Committee,	the	board	of	directors	seeks	to	ensure	its	system	of	rewards	is	risk-sensitive	and	aligns	the	interests	of	management,	creditors,	and	shareholders.		We	utilize	a	variety	of	compensation-related	tools	to	induce	appropriate	behavior,	including	common	stock	ownership	thresholds	for	the	chief	executive	officer	and	certain	members	of	senior	management,	a	requirement	to	hold	until	retirement	or	exit	from	the	Company,	a	portion	of	net	shares	received	upon	exercise	of	stock	options	or	release	of	restricted	stock	awards	(50%	for	executive	officers	and	25%	for	other	award	recipients),	equity	deferrals,	recoupment	provisions,	and	the	right	to	terminate	compensation	plans	at	any	time.Management	has	implemented	an	Enterprise	Risk	Management	and	Risk	Appetite	Framework.		Critically	important	is	our	self-assessment	process,	in	which	each	business	segment	produces	an	analysis	of	its	risks	and	the	strength	of	its	risk	controls.		The	segment	analyses	are	combined	with	assessments	by	our	risk	management	organization	of	major	risk	sectors	(e.g.,	credit,	market,	liquidity,	operational,	compliance,	strategic,	and	reputation)	to	produce	an	overall	enterprise	risk	assessment.		Outcomes	of	the	process	include	a	determination	of	the	quality	of	the	overall	control	process,	the	direction	of	risk,	and	our	position	compared	to	the	defined	risk	appetite.Management	also	utilizes	a	wide	series	of	metrics	(key	risk	indicators)	to	monitor	risk	positions	throughout	the	Company.		In	general,	a	range	for	each	metric	is	established,	which	allows	the	Company,	in	aggregate,	to	operate	2020	Form	10-K					57within	an	aggregate	moderate-to-low	risk	profile.		Deviations	from	the	range	will	indicate	if	the	risk	being	measured	exceeds	desired	tolerance,	which	may	then	necessitate	corrective	action.We	also	have	four	executive	level	committees	to	manage	risk:	ALCO,	Credit	Policy	and	Strategy,	Risk	Management,	and	Capital	Management.		Each	committee	focuses	on	specific	categories	of	risk	and	is	supported	by	a	series	of	subcommittees	that	are	tactical	in	nature.		We	believe	this	structure	helps	ensure	appropriate	escalation	of	issues	and	overall	communication	of	strategies.Huntington	utilizes	three	lines	of	defense	with	regard	to	risk	management:	(1)	business	segments,	(2)	corporate	risk	management,	and	(3)	internal	audit	and	credit	review.		To	induce	greater	ownership	of	risk	within	its	business	segments,	segment	risk	officers	have	been	embedded	in	the	business	to	identify	and	monitor	risk,	elevate	and	remediate	issues,	establish	controls,	perform	self-testing,	and	oversee	the	self-assessment	process.		Corporate	Risk	Management	establishes	policies,	sets	operating	limits,	reviews	new	or	modified	products/processes,	ensures	consistency	and	quality	assurance	within	the	segments,	and	produces	the	enterprise	risk	assessment.		The	Chief	Risk	Officer	has	significant	input	into	the	design	and	outcome	of	incentive	compensation	plans	as	they	apply	to	risk.		Internal	Audit	and	Credit	Review	provide	additional	assurance	that	risk-related	functions	are	operating	as	intended.A	comprehensive	discussion	of	risk	management	and	capital	matters	affecting	us	can	be	found	in	the	Risk	Factors	section	included	in	Item	1A:	Risk	Factors	and	the	“Regulatory	Matters”	section	of	Item	1:	Business	of	this	Form	10-K.		Some	of	the	more	significant	processes	used	to	manage	and	control	credit,	market,	liquidity,	operational,	and	compliance	risks	are	described	in	the	following	sections.Credit	RiskCredit	risk	is	the	risk	of	financial	loss	if	a	counterparty	is	not	able	to	meet	the	agreed	upon	terms	of	the	financial	obligation.		The	majority	of	our	credit	risk	is	associated	with	lending	activities,	as	the	acceptance	and	management	of	credit	risk	is	central	to	profitable	lending.		We	also	have	credit	risk	associated	with	our	investment	securities	portfolios	(see	Note	4	-	"Investment	Securities	and	Other	Securities"	of	the	Notes	to	Consolidated	Financial	Statements).		We	engage	with	other	financial	counterparties	for	a	variety	of	purposes	including	investing,	asset	and	liability	management,	mortgage	banking,	and	trading	activities.		A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	price	or	interest	rate	movements.		Huntington	also	uses	derivatives,	principally	loan	sale	commitments,	in	hedging	its	mortgage	loan	interest	rate	lock	commitments	and	its	mortgage	loans	held	for	sale.		While	there	is	credit	risk	associated	with	derivative	activity,	we	believe	this	exposure	is	minimal.	(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements.)We	focus	on	the	early	identification,	monitoring,	and	management	of	all	aspects	of	our	credit	risk.		In	addition	to	the	traditional	credit	risk	mitigation	strategies	of	credit	policies	and	processes,	market	risk	management	activities,	and	portfolio	diversification,	we	use	quantitative	measurement	capabilities	utilizing	external	data	sources,	enhanced	modeling	technology,	and	internal	stress	testing	processes.		Our	continued	ongoing	expansion	of	portfolio	management	resources	is	central	to	our	commitment	to	maintaining	an	aggregate	moderate-to-low	risk	profile.		In	our	efforts	to	identify	risk	mitigation	techniques,	we	have	focused	on	product	design	features,	origination	policies,	and	solutions	for	delinquent	or	stressed	borrowers.The	maximum	level	of	credit	exposure	to	individual	credit	borrowers	is	limited	by	policy	guidelines	based	on	the	perceived	risk	of	each	borrower	or	related	group	of	borrowers.		All	authority	to	grant	commitments	sits	with	the	independent	credit	administration	function	and	is	closely	monitored	and	regularly	updated.		Concentration	risk	is	managed	through	limits	on	loan	type,	geography,	industry,	and	loan	quality	factors.		We	focus	predominantly	on	extending	credit	to	retail	and	commercial	customers	with	existing	or	expandable	relationships	within	our	primary	banking	markets,	although	we	will	consider	lending	opportunities	outside	our	primary	markets	if	we	believe	the	associated	risks	are	acceptable	and	aligned	with	strategic	initiatives.		Although	we	offer	a	broad	set	of	products,	we	continue	to	develop	new	lending	products	and	opportunities.		Each	of	these	new	products	and	opportunities	goes	through	a	rigorous	development	and	approval	process	prior	to	implementation	to	ensure	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	portfolio	profile.58					Huntington	Bancshares	IncorporatedThe	checks	and	balances	in	the	credit	process	and	the	separation	of	the	credit	administration	and	risk	management	functions	are	designed	to	appropriately	assess	and	sanction	the	level	of	credit	risk	being	accepted,	facilitate	the	early	recognition	of	credit	problems	when	they	occur,	and	provide	for	effective	problem	asset	management	and	resolution.		For	example,	we	do	not	extend	additional	credit	to	delinquent	borrowers	except	in	certain	circumstances	that	substantially	improve	our	overall	repayment	or	collateral	coverage	position.Over	the	course	of	2020,	we	have	assessed	the	impact	of	COVID-19	on	our	loan	portfolio	as	we	would	with	any	natural	disaster	or	significant	economic	decline.		Huntington	proactively	addressed	the	situation	by	offering	our	customers	payment	deferrals	and	the	suspension	of	late	fees,	while	also	suspending	repossession	and	foreclosures.		We	believe	that	these	decisions	were	prudent	due	to	the	widespread	impact	economic	conditions	had	on	both	commercial	and	consumer	borrowers.		During	the	third	quarter,	we	re-instated	late	fees	and	repossessions,	while	continuing	to	offer	payment	help	to	impacted	borrowers.		The	longer	term	impact	of	our	response	is	dependent	upon	a	number	of	variables,	including	the	prolonged	impact	of	the	COVID-19	virus	and	its	impact	on	the	economic	recovery.		Continued	weakness	in	the	labor	market	could	lead	to	increased	delinquencies	and	defaults	in	our	consumer	portfolio.		Additionally,	increased	economic	deterioration	could	lead	to	elevated	default	rates	in	our	Commercial	portfolio,	specifically	industries	highly	impacted	by	COVID-19.		Huntington	initiated	a	customer	centric	payment	deferral	plan	in	mid-March	2020.		The	response	across	the	consumer	portfolios	was	immediate,	with	substantial	deferral	activity	across	the	portfolio	in	March	and	April.		Our	commercial	loan	deferral	activity	was	initiated	in	April	and	May.		The	vast	majority	of	the	deferrals	granted	to	our	customers,	both	commercial	and	consumer,	have	expired	with	positive	subsequent	payment	patterns.		The	remaining	deferrals	in	the	consumer	portfolios	are	centered	in	the	residential	portfolio,	consistent	with	the	generally	longer-term	payment	deferral	time	frames.		The	post	deferral	performance	to	date	for	the	consumer	portfolios	has	been	positive.		Our	customer	assistance	teams	remain	well	positioned	to	continue	to	help	our	consumer	customers	who	have	been	impacted	by	the	current	economic	conditions.		The	commercial	deferrals	were	primarily	90	days	in	length	and	began	to	expire	in	the	third	quarter	of	2020	as	expected.		For	commercial	borrowers	requiring	additional	modifications	to	existing	terms	and	conditions,	expiring	deferrals	were	replaced	with	modified	terms	and	conditions,	including	payment	terms	in	some	instances,	to	the	extent	appropriate,	as	we	continue	to	work	with	our	customers.		The	table	below	summarizes	our	deferral	activity	as	of	December	31,	2020,	September	30,	2020,	and	June	30,	2020	under	our	COVID-19-related	forbearance	and	other	customer	accommodation	programs	that	are	guided	by	the	CARES	Act.Table	6	-	Loan	and	Lease	Portfolio	DeferralsDecember	31,	2020September	30,	2020June	30,	2020DeferredDeferred%	ofDeferredDeferred%	ofDeferredDeferred%	of(dollar	amounts	in	millions)#	of	LoansBalancePortfolio#	of	LoansBalancePortfolio#	of	LoansBalancePortfolioCommercial:Commercial	and	industrial	331	$	75		—	%	429	$	431		1	%	5,584	$	3,186		9	%Commercial	real	estate:Construction	1		—		—	%	8		40		3	%	27		90		8	%Commercial	18		76		1	%	77		471		8	%	536		1,719		29	%Commercial	real	estate	19		76		1	%	85		511		7	%	563		1,809		25	%Total	commercial	350		151		—	%	514		942		2	%	6,147		4,995		12	%Consumer:Automobile	348		5		—	%	1,226		20		—	%	21,984		426		3	%Home	equity		196		15		—	%	627		49		1	%	3,321		267		3	%Residential	mortgage	(1)	967		150		1	%	2,121		411		3	%	3,322		1,002		9	%RV	and	marine	15		1		—	%	88		4		—	%	2,200		117		3	%Other	consumer	3		—		—	%	169		1		—	%	1,336		12		1	%Total	consumer	1,529		171		—	%	4,231		485		1	%	32,163		1,824		5	%Total	loans	and	leases	1,879	$	322		—	%	4,745	$	1,427		2	%	38,310	$	6,819		9	%(1)	Residential	mortgage	deferrals	include	GNMA	serviced	loans	that	entered	forbearance	and	then	subsequently	were	bought	out	of	the	pool:	750	loans	for	$108	million	at	December	31,	2020	and	1,272	loans	for	$178	million	at	September	30,	2020.	2020	Form	10-K					59within	an	aggregate	moderate-to-low	risk	profile.		Deviations	from	the	range	will	indicate	if	the	risk	being	measured	exceeds	desired	tolerance,	which	may	then	necessitate	corrective	action.We	also	have	four	executive	level	committees	to	manage	risk:	ALCO,	Credit	Policy	and	Strategy,	Risk	Management,	and	Capital	Management.		Each	committee	focuses	on	specific	categories	of	risk	and	is	supported	by	a	series	of	subcommittees	that	are	tactical	in	nature.		We	believe	this	structure	helps	ensure	appropriate	escalation	of	issues	and	overall	communication	of	strategies.Huntington	utilizes	three	lines	of	defense	with	regard	to	risk	management:	(1)	business	segments,	(2)	corporate	risk	management,	and	(3)	internal	audit	and	credit	review.		To	induce	greater	ownership	of	risk	within	its	business	segments,	segment	risk	officers	have	been	embedded	in	the	business	to	identify	and	monitor	risk,	elevate	and	remediate	issues,	establish	controls,	perform	self-testing,	and	oversee	the	self-assessment	process.		Corporate	Risk	Management	establishes	policies,	sets	operating	limits,	reviews	new	or	modified	products/processes,	ensures	consistency	and	quality	assurance	within	the	segments,	and	produces	the	enterprise	risk	assessment.		The	Chief	Risk	Officer	has	significant	input	into	the	design	and	outcome	of	incentive	compensation	plans	as	they	apply	to	risk.		Internal	Audit	and	Credit	Review	provide	additional	assurance	that	risk-related	functions	are	operating	as	intended.A	comprehensive	discussion	of	risk	management	and	capital	matters	affecting	us	can	be	found	in	the	Risk	Factors	section	included	in	Item	1A:	Risk	Factors	and	the	“Regulatory	Matters”	section	of	Item	1:	Business	of	this	Form	10-K.		Some	of	the	more	significant	processes	used	to	manage	and	control	credit,	market,	liquidity,	operational,	and	compliance	risks	are	described	in	the	following	sections.Credit	RiskCredit	risk	is	the	risk	of	financial	loss	if	a	counterparty	is	not	able	to	meet	the	agreed	upon	terms	of	the	financial	obligation.		The	majority	of	our	credit	risk	is	associated	with	lending	activities,	as	the	acceptance	and	management	of	credit	risk	is	central	to	profitable	lending.		We	also	have	credit	risk	associated	with	our	investment	securities	portfolios	(see	Note	4	-	"Investment	Securities	and	Other	Securities"	of	the	Notes	to	Consolidated	Financial	Statements).		We	engage	with	other	financial	counterparties	for	a	variety	of	purposes	including	investing,	asset	and	liability	management,	mortgage	banking,	and	trading	activities.		A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	price	or	interest	rate	movements.		Huntington	also	uses	derivatives,	principally	loan	sale	commitments,	in	hedging	its	mortgage	loan	interest	rate	lock	commitments	and	its	mortgage	loans	held	for	sale.		While	there	is	credit	risk	associated	with	derivative	activity,	we	believe	this	exposure	is	minimal.	(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements.)We	focus	on	the	early	identification,	monitoring,	and	management	of	all	aspects	of	our	credit	risk.		In	addition	to	the	traditional	credit	risk	mitigation	strategies	of	credit	policies	and	processes,	market	risk	management	activities,	and	portfolio	diversification,	we	use	quantitative	measurement	capabilities	utilizing	external	data	sources,	enhanced	modeling	technology,	and	internal	stress	testing	processes.		Our	continued	ongoing	expansion	of	portfolio	management	resources	is	central	to	our	commitment	to	maintaining	an	aggregate	moderate-to-low	risk	profile.		In	our	efforts	to	identify	risk	mitigation	techniques,	we	have	focused	on	product	design	features,	origination	policies,	and	solutions	for	delinquent	or	stressed	borrowers.The	maximum	level	of	credit	exposure	to	individual	credit	borrowers	is	limited	by	policy	guidelines	based	on	the	perceived	risk	of	each	borrower	or	related	group	of	borrowers.		All	authority	to	grant	commitments	sits	with	the	independent	credit	administration	function	and	is	closely	monitored	and	regularly	updated.		Concentration	risk	is	managed	through	limits	on	loan	type,	geography,	industry,	and	loan	quality	factors.		We	focus	predominantly	on	extending	credit	to	retail	and	commercial	customers	with	existing	or	expandable	relationships	within	our	primary	banking	markets,	although	we	will	consider	lending	opportunities	outside	our	primary	markets	if	we	believe	the	associated	risks	are	acceptable	and	aligned	with	strategic	initiatives.		Although	we	offer	a	broad	set	of	products,	we	continue	to	develop	new	lending	products	and	opportunities.		Each	of	these	new	products	and	opportunities	goes	through	a	rigorous	development	and	approval	process	prior	to	implementation	to	ensure	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	portfolio	profile.58					Huntington	Bancshares	IncorporatedThe	checks	and	balances	in	the	credit	process	and	the	separation	of	the	credit	administration	and	risk	management	functions	are	designed	to	appropriately	assess	and	sanction	the	level	of	credit	risk	being	accepted,	facilitate	the	early	recognition	of	credit	problems	when	they	occur,	and	provide	for	effective	problem	asset	management	and	resolution.		For	example,	we	do	not	extend	additional	credit	to	delinquent	borrowers	except	in	certain	circumstances	that	substantially	improve	our	overall	repayment	or	collateral	coverage	position.Over	the	course	of	2020,	we	have	assessed	the	impact	of	COVID-19	on	our	loan	portfolio	as	we	would	with	any	natural	disaster	or	significant	economic	decline.		Huntington	proactively	addressed	the	situation	by	offering	our	customers	payment	deferrals	and	the	suspension	of	late	fees,	while	also	suspending	repossession	and	foreclosures.		We	believe	that	these	decisions	were	prudent	due	to	the	widespread	impact	economic	conditions	had	on	both	commercial	and	consumer	borrowers.		During	the	third	quarter,	we	re-instated	late	fees	and	repossessions,	while	continuing	to	offer	payment	help	to	impacted	borrowers.		The	longer	term	impact	of	our	response	is	dependent	upon	a	number	of	variables,	including	the	prolonged	impact	of	the	COVID-19	virus	and	its	impact	on	the	economic	recovery.		Continued	weakness	in	the	labor	market	could	lead	to	increased	delinquencies	and	defaults	in	our	consumer	portfolio.		Additionally,	increased	economic	deterioration	could	lead	to	elevated	default	rates	in	our	Commercial	portfolio,	specifically	industries	highly	impacted	by	COVID-19.		Huntington	initiated	a	customer	centric	payment	deferral	plan	in	mid-March	2020.		The	response	across	the	consumer	portfolios	was	immediate,	with	substantial	deferral	activity	across	the	portfolio	in	March	and	April.		Our	commercial	loan	deferral	activity	was	initiated	in	April	and	May.		The	vast	majority	of	the	deferrals	granted	to	our	customers,	both	commercial	and	consumer,	have	expired	with	positive	subsequent	payment	patterns.		The	remaining	deferrals	in	the	consumer	portfolios	are	centered	in	the	residential	portfolio,	consistent	with	the	generally	longer-term	payment	deferral	time	frames.		The	post	deferral	performance	to	date	for	the	consumer	portfolios	has	been	positive.		Our	customer	assistance	teams	remain	well	positioned	to	continue	to	help	our	consumer	customers	who	have	been	impacted	by	the	current	economic	conditions.		The	commercial	deferrals	were	primarily	90	days	in	length	and	began	to	expire	in	the	third	quarter	of	2020	as	expected.		For	commercial	borrowers	requiring	additional	modifications	to	existing	terms	and	conditions,	expiring	deferrals	were	replaced	with	modified	terms	and	conditions,	including	payment	terms	in	some	instances,	to	the	extent	appropriate,	as	we	continue	to	work	with	our	customers.		The	table	below	summarizes	our	deferral	activity	as	of	December	31,	2020,	September	30,	2020,	and	June	30,	2020	under	our	COVID-19-related	forbearance	and	other	customer	accommodation	programs	that	are	guided	by	the	CARES	Act.Table	6	-	Loan	and	Lease	Portfolio	DeferralsDecember	31,	2020September	30,	2020June	30,	2020DeferredDeferred%	ofDeferredDeferred%	ofDeferredDeferred%	of(dollar	amounts	in	millions)#	of	LoansBalancePortfolio#	of	LoansBalancePortfolio#	of	LoansBalancePortfolioCommercial:Commercial	and	industrial	331	$	75		—	%	429	$	431		1	%	5,584	$	3,186		9	%Commercial	real	estate:Construction	1		—		—	%	8		40		3	%	27		90		8	%Commercial	18		76		1	%	77		471		8	%	536		1,719		29	%Commercial	real	estate	19		76		1	%	85		511		7	%	563		1,809		25	%Total	commercial	350		151		—	%	514		942		2	%	6,147		4,995		12	%Consumer:Automobile	348		5		—	%	1,226		20		—	%	21,984		426		3	%Home	equity		196		15		—	%	627		49		1	%	3,321		267		3	%Residential	mortgage	(1)	967		150		1	%	2,121		411		3	%	3,322		1,002		9	%RV	and	marine	15		1		—	%	88		4		—	%	2,200		117		3	%Other	consumer	3		—		—	%	169		1		—	%	1,336		12		1	%Total	consumer	1,529		171		—	%	4,231		485		1	%	32,163		1,824		5	%Total	loans	and	leases	1,879	$	322		—	%	4,745	$	1,427		2	%	38,310	$	6,819		9	%(1)	Residential	mortgage	deferrals	include	GNMA	serviced	loans	that	entered	forbearance	and	then	subsequently	were	bought	out	of	the	pool:	750	loans	for	$108	million	at	December	31,	2020	and	1,272	loans	for	$178	million	at	September	30,	2020.	2020	Form	10-K					59within	an	aggregate	moderate-to-low	risk	profile.		Deviations	from	the	range	will	indicate	if	the	risk	being	measured	exceeds	desired	tolerance,	which	may	then	necessitate	corrective	action.We	also	have	four	executive	level	committees	to	manage	risk:	ALCO,	Credit	Policy	and	Strategy,	Risk	Management,	and	Capital	Management.		Each	committee	focuses	on	specific	categories	of	risk	and	is	supported	by	a	series	of	subcommittees	that	are	tactical	in	nature.		We	believe	this	structure	helps	ensure	appropriate	escalation	of	issues	and	overall	communication	of	strategies.Huntington	utilizes	three	lines	of	defense	with	regard	to	risk	management:	(1)	business	segments,	(2)	corporate	risk	management,	and	(3)	internal	audit	and	credit	review.		To	induce	greater	ownership	of	risk	within	its	business	segments,	segment	risk	officers	have	been	embedded	in	the	business	to	identify	and	monitor	risk,	elevate	and	remediate	issues,	establish	controls,	perform	self-testing,	and	oversee	the	self-assessment	process.		Corporate	Risk	Management	establishes	policies,	sets	operating	limits,	reviews	new	or	modified	products/processes,	ensures	consistency	and	quality	assurance	within	the	segments,	and	produces	the	enterprise	risk	assessment.		The	Chief	Risk	Officer	has	significant	input	into	the	design	and	outcome	of	incentive	compensation	plans	as	they	apply	to	risk.		Internal	Audit	and	Credit	Review	provide	additional	assurance	that	risk-related	functions	are	operating	as	intended.A	comprehensive	discussion	of	risk	management	and	capital	matters	affecting	us	can	be	found	in	the	Risk	Factors	section	included	in	Item	1A:	Risk	Factors	and	the	“Regulatory	Matters”	section	of	Item	1:	Business	of	this	Form	10-K.		Some	of	the	more	significant	processes	used	to	manage	and	control	credit,	market,	liquidity,	operational,	and	compliance	risks	are	described	in	the	following	sections.Credit	RiskCredit	risk	is	the	risk	of	financial	loss	if	a	counterparty	is	not	able	to	meet	the	agreed	upon	terms	of	the	financial	obligation.		The	majority	of	our	credit	risk	is	associated	with	lending	activities,	as	the	acceptance	and	management	of	credit	risk	is	central	to	profitable	lending.		We	also	have	credit	risk	associated	with	our	investment	securities	portfolios	(see	Note	4	-	"Investment	Securities	and	Other	Securities"	of	the	Notes	to	Consolidated	Financial	Statements).		We	engage	with	other	financial	counterparties	for	a	variety	of	purposes	including	investing,	asset	and	liability	management,	mortgage	banking,	and	trading	activities.		A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	price	or	interest	rate	movements.		Huntington	also	uses	derivatives,	principally	loan	sale	commitments,	in	hedging	its	mortgage	loan	interest	rate	lock	commitments	and	its	mortgage	loans	held	for	sale.		While	there	is	credit	risk	associated	with	derivative	activity,	we	believe	this	exposure	is	minimal.	(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements.)We	focus	on	the	early	identification,	monitoring,	and	management	of	all	aspects	of	our	credit	risk.		In	addition	to	the	traditional	credit	risk	mitigation	strategies	of	credit	policies	and	processes,	market	risk	management	activities,	and	portfolio	diversification,	we	use	quantitative	measurement	capabilities	utilizing	external	data	sources,	enhanced	modeling	technology,	and	internal	stress	testing	processes.		Our	continued	ongoing	expansion	of	portfolio	management	resources	is	central	to	our	commitment	to	maintaining	an	aggregate	moderate-to-low	risk	profile.		In	our	efforts	to	identify	risk	mitigation	techniques,	we	have	focused	on	product	design	features,	origination	policies,	and	solutions	for	delinquent	or	stressed	borrowers.The	maximum	level	of	credit	exposure	to	individual	credit	borrowers	is	limited	by	policy	guidelines	based	on	the	perceived	risk	of	each	borrower	or	related	group	of	borrowers.		All	authority	to	grant	commitments	sits	with	the	independent	credit	administration	function	and	is	closely	monitored	and	regularly	updated.		Concentration	risk	is	managed	through	limits	on	loan	type,	geography,	industry,	and	loan	quality	factors.		We	focus	predominantly	on	extending	credit	to	retail	and	commercial	customers	with	existing	or	expandable	relationships	within	our	primary	banking	markets,	although	we	will	consider	lending	opportunities	outside	our	primary	markets	if	we	believe	the	associated	risks	are	acceptable	and	aligned	with	strategic	initiatives.		Although	we	offer	a	broad	set	of	products,	we	continue	to	develop	new	lending	products	and	opportunities.		Each	of	these	new	products	and	opportunities	goes	through	a	rigorous	development	and	approval	process	prior	to	implementation	to	ensure	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	portfolio	profile.58					Huntington	Bancshares	IncorporatedThe	checks	and	balances	in	the	credit	process	and	the	separation	of	the	credit	administration	and	risk	management	functions	are	designed	to	appropriately	assess	and	sanction	the	level	of	credit	risk	being	accepted,	facilitate	the	early	recognition	of	credit	problems	when	they	occur,	and	provide	for	effective	problem	asset	management	and	resolution.		For	example,	we	do	not	extend	additional	credit	to	delinquent	borrowers	except	in	certain	circumstances	that	substantially	improve	our	overall	repayment	or	collateral	coverage	position.Over	the	course	of	2020,	we	have	assessed	the	impact	of	COVID-19	on	our	loan	portfolio	as	we	would	with	any	natural	disaster	or	significant	economic	decline.		Huntington	proactively	addressed	the	situation	by	offering	our	customers	payment	deferrals	and	the	suspension	of	late	fees,	while	also	suspending	repossession	and	foreclosures.		We	believe	that	these	decisions	were	prudent	due	to	the	widespread	impact	economic	conditions	had	on	both	commercial	and	consumer	borrowers.		During	the	third	quarter,	we	re-instated	late	fees	and	repossessions,	while	continuing	to	offer	payment	help	to	impacted	borrowers.		The	longer	term	impact	of	our	response	is	dependent	upon	a	number	of	variables,	including	the	prolonged	impact	of	the	COVID-19	virus	and	its	impact	on	the	economic	recovery.		Continued	weakness	in	the	labor	market	could	lead	to	increased	delinquencies	and	defaults	in	our	consumer	portfolio.		Additionally,	increased	economic	deterioration	could	lead	to	elevated	default	rates	in	our	Commercial	portfolio,	specifically	industries	highly	impacted	by	COVID-19.		Huntington	initiated	a	customer	centric	payment	deferral	plan	in	mid-March	2020.		The	response	across	the	consumer	portfolios	was	immediate,	with	substantial	deferral	activity	across	the	portfolio	in	March	and	April.		Our	commercial	loan	deferral	activity	was	initiated	in	April	and	May.		The	vast	majority	of	the	deferrals	granted	to	our	customers,	both	commercial	and	consumer,	have	expired	with	positive	subsequent	payment	patterns.		The	remaining	deferrals	in	the	consumer	portfolios	are	centered	in	the	residential	portfolio,	consistent	with	the	generally	longer-term	payment	deferral	time	frames.		The	post	deferral	performance	to	date	for	the	consumer	portfolios	has	been	positive.		Our	customer	assistance	teams	remain	well	positioned	to	continue	to	help	our	consumer	customers	who	have	been	impacted	by	the	current	economic	conditions.		The	commercial	deferrals	were	primarily	90	days	in	length	and	began	to	expire	in	the	third	quarter	of	2020	as	expected.		For	commercial	borrowers	requiring	additional	modifications	to	existing	terms	and	conditions,	expiring	deferrals	were	replaced	with	modified	terms	and	conditions,	including	payment	terms	in	some	instances,	to	the	extent	appropriate,	as	we	continue	to	work	with	our	customers.		The	table	below	summarizes	our	deferral	activity	as	of	December	31,	2020,	September	30,	2020,	and	June	30,	2020	under	our	COVID-19-related	forbearance	and	other	customer	accommodation	programs	that	are	guided	by	the	CARES	Act.Table	6	-	Loan	and	Lease	Portfolio	DeferralsDecember	31,	2020September	30,	2020June	30,	2020DeferredDeferred%	ofDeferredDeferred%	ofDeferredDeferred%	of(dollar	amounts	in	millions)#	of	LoansBalancePortfolio#	of	LoansBalancePortfolio#	of	LoansBalancePortfolioCommercial:Commercial	and	industrial	331	$	75		—	%	429	$	431		1	%	5,584	$	3,186		9	%Commercial	real	estate:Construction	1		—		—	%	8		40		3	%	27		90		8	%Commercial	18		76		1	%	77		471		8	%	536		1,719		29	%Commercial	real	estate	19		76		1	%	85		511		7	%	563		1,809		25	%Total	commercial	350		151		—	%	514		942		2	%	6,147		4,995		12	%Consumer:Automobile	348		5		—	%	1,226		20		—	%	21,984		426		3	%Home	equity		196		15		—	%	627		49		1	%	3,321		267		3	%Residential	mortgage	(1)	967		150		1	%	2,121		411		3	%	3,322		1,002		9	%RV	and	marine	15		1		—	%	88		4		—	%	2,200		117		3	%Other	consumer	3		—		—	%	169		1		—	%	1,336		12		1	%Total	consumer	1,529		171		—	%	4,231		485		1	%	32,163		1,824		5	%Total	loans	and	leases	1,879	$	322		—	%	4,745	$	1,427		2	%	38,310	$	6,819		9	%(1)	Residential	mortgage	deferrals	include	GNMA	serviced	loans	that	entered	forbearance	and	then	subsequently	were	bought	out	of	the	pool:	750	loans	for	$108	million	at	December	31,	2020	and	1,272	loans	for	$178	million	at	September	30,	2020.	2020	Form	10-K					59within	an	aggregate	moderate-to-low	risk	profile.		Deviations	from	the	range	will	indicate	if	the	risk	being	measured	exceeds	desired	tolerance,	which	may	then	necessitate	corrective	action.We	also	have	four	executive	level	committees	to	manage	risk:	ALCO,	Credit	Policy	and	Strategy,	Risk	Management,	and	Capital	Management.		Each	committee	focuses	on	specific	categories	of	risk	and	is	supported	by	a	series	of	subcommittees	that	are	tactical	in	nature.		We	believe	this	structure	helps	ensure	appropriate	escalation	of	issues	and	overall	communication	of	strategies.Huntington	utilizes	three	lines	of	defense	with	regard	to	risk	management:	(1)	business	segments,	(2)	corporate	risk	management,	and	(3)	internal	audit	and	credit	review.		To	induce	greater	ownership	of	risk	within	its	business	segments,	segment	risk	officers	have	been	embedded	in	the	business	to	identify	and	monitor	risk,	elevate	and	remediate	issues,	establish	controls,	perform	self-testing,	and	oversee	the	self-assessment	process.		Corporate	Risk	Management	establishes	policies,	sets	operating	limits,	reviews	new	or	modified	products/processes,	ensures	consistency	and	quality	assurance	within	the	segments,	and	produces	the	enterprise	risk	assessment.		The	Chief	Risk	Officer	has	significant	input	into	the	design	and	outcome	of	incentive	compensation	plans	as	they	apply	to	risk.		Internal	Audit	and	Credit	Review	provide	additional	assurance	that	risk-related	functions	are	operating	as	intended.A	comprehensive	discussion	of	risk	management	and	capital	matters	affecting	us	can	be	found	in	the	Risk	Factors	section	included	in	Item	1A:	Risk	Factors	and	the	“Regulatory	Matters”	section	of	Item	1:	Business	of	this	Form	10-K.		Some	of	the	more	significant	processes	used	to	manage	and	control	credit,	market,	liquidity,	operational,	and	compliance	risks	are	described	in	the	following	sections.Credit	RiskCredit	risk	is	the	risk	of	financial	loss	if	a	counterparty	is	not	able	to	meet	the	agreed	upon	terms	of	the	financial	obligation.		The	majority	of	our	credit	risk	is	associated	with	lending	activities,	as	the	acceptance	and	management	of	credit	risk	is	central	to	profitable	lending.		We	also	have	credit	risk	associated	with	our	investment	securities	portfolios	(see	Note	4	-	"Investment	Securities	and	Other	Securities"	of	the	Notes	to	Consolidated	Financial	Statements).		We	engage	with	other	financial	counterparties	for	a	variety	of	purposes	including	investing,	asset	and	liability	management,	mortgage	banking,	and	trading	activities.		A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	price	or	interest	rate	movements.		Huntington	also	uses	derivatives,	principally	loan	sale	commitments,	in	hedging	its	mortgage	loan	interest	rate	lock	commitments	and	its	mortgage	loans	held	for	sale.		While	there	is	credit	risk	associated	with	derivative	activity,	we	believe	this	exposure	is	minimal.	(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements.)We	focus	on	the	early	identification,	monitoring,	and	management	of	all	aspects	of	our	credit	risk.		In	addition	to	the	traditional	credit	risk	mitigation	strategies	of	credit	policies	and	processes,	market	risk	management	activities,	and	portfolio	diversification,	we	use	quantitative	measurement	capabilities	utilizing	external	data	sources,	enhanced	modeling	technology,	and	internal	stress	testing	processes.		Our	continued	ongoing	expansion	of	portfolio	management	resources	is	central	to	our	commitment	to	maintaining	an	aggregate	moderate-to-low	risk	profile.		In	our	efforts	to	identify	risk	mitigation	techniques,	we	have	focused	on	product	design	features,	origination	policies,	and	solutions	for	delinquent	or	stressed	borrowers.The	maximum	level	of	credit	exposure	to	individual	credit	borrowers	is	limited	by	policy	guidelines	based	on	the	perceived	risk	of	each	borrower	or	related	group	of	borrowers.		All	authority	to	grant	commitments	sits	with	the	independent	credit	administration	function	and	is	closely	monitored	and	regularly	updated.		Concentration	risk	is	managed	through	limits	on	loan	type,	geography,	industry,	and	loan	quality	factors.		We	focus	predominantly	on	extending	credit	to	retail	and	commercial	customers	with	existing	or	expandable	relationships	within	our	primary	banking	markets,	although	we	will	consider	lending	opportunities	outside	our	primary	markets	if	we	believe	the	associated	risks	are	acceptable	and	aligned	with	strategic	initiatives.		Although	we	offer	a	broad	set	of	products,	we	continue	to	develop	new	lending	products	and	opportunities.		Each	of	these	new	products	and	opportunities	goes	through	a	rigorous	development	and	approval	process	prior	to	implementation	to	ensure	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	portfolio	profile.58					Huntington	Bancshares	IncorporatedThe	checks	and	balances	in	the	credit	process	and	the	separation	of	the	credit	administration	and	risk	management	functions	are	designed	to	appropriately	assess	and	sanction	the	level	of	credit	risk	being	accepted,	facilitate	the	early	recognition	of	credit	problems	when	they	occur,	and	provide	for	effective	problem	asset	management	and	resolution.		For	example,	we	do	not	extend	additional	credit	to	delinquent	borrowers	except	in	certain	circumstances	that	substantially	improve	our	overall	repayment	or	collateral	coverage	position.Over	the	course	of	2020,	we	have	assessed	the	impact	of	COVID-19	on	our	loan	portfolio	as	we	would	with	any	natural	disaster	or	significant	economic	decline.		Huntington	proactively	addressed	the	situation	by	offering	our	customers	payment	deferrals	and	the	suspension	of	late	fees,	while	also	suspending	repossession	and	foreclosures.		We	believe	that	these	decisions	were	prudent	due	to	the	widespread	impact	economic	conditions	had	on	both	commercial	and	consumer	borrowers.		During	the	third	quarter,	we	re-instated	late	fees	and	repossessions,	while	continuing	to	offer	payment	help	to	impacted	borrowers.		The	longer	term	impact	of	our	response	is	dependent	upon	a	number	of	variables,	including	the	prolonged	impact	of	the	COVID-19	virus	and	its	impact	on	the	economic	recovery.		Continued	weakness	in	the	labor	market	could	lead	to	increased	delinquencies	and	defaults	in	our	consumer	portfolio.		Additionally,	increased	economic	deterioration	could	lead	to	elevated	default	rates	in	our	Commercial	portfolio,	specifically	industries	highly	impacted	by	COVID-19.		Huntington	initiated	a	customer	centric	payment	deferral	plan	in	mid-March	2020.		The	response	across	the	consumer	portfolios	was	immediate,	with	substantial	deferral	activity	across	the	portfolio	in	March	and	April.		Our	commercial	loan	deferral	activity	was	initiated	in	April	and	May.		The	vast	majority	of	the	deferrals	granted	to	our	customers,	both	commercial	and	consumer,	have	expired	with	positive	subsequent	payment	patterns.		The	remaining	deferrals	in	the	consumer	portfolios	are	centered	in	the	residential	portfolio,	consistent	with	the	generally	longer-term	payment	deferral	time	frames.		The	post	deferral	performance	to	date	for	the	consumer	portfolios	has	been	positive.		Our	customer	assistance	teams	remain	well	positioned	to	continue	to	help	our	consumer	customers	who	have	been	impacted	by	the	current	economic	conditions.		The	commercial	deferrals	were	primarily	90	days	in	length	and	began	to	expire	in	the	third	quarter	of	2020	as	expected.		For	commercial	borrowers	requiring	additional	modifications	to	existing	terms	and	conditions,	expiring	deferrals	were	replaced	with	modified	terms	and	conditions,	including	payment	terms	in	some	instances,	to	the	extent	appropriate,	as	we	continue	to	work	with	our	customers.		The	table	below	summarizes	our	deferral	activity	as	of	December	31,	2020,	September	30,	2020,	and	June	30,	2020	under	our	COVID-19-related	forbearance	and	other	customer	accommodation	programs	that	are	guided	by	the	CARES	Act.Table	6	-	Loan	and	Lease	Portfolio	DeferralsDecember	31,	2020September	30,	2020June	30,	2020DeferredDeferred%	ofDeferredDeferred%	ofDeferredDeferred%	of(dollar	amounts	in	millions)#	of	LoansBalancePortfolio#	of	LoansBalancePortfolio#	of	LoansBalancePortfolioCommercial:Commercial	and	industrial	331	$	75		—	%	429	$	431		1	%	5,584	$	3,186		9	%Commercial	real	estate:Construction	1		—		—	%	8		40		3	%	27		90		8	%Commercial	18		76		1	%	77		471		8	%	536		1,719		29	%Commercial	real	estate	19		76		1	%	85		511		7	%	563		1,809		25	%Total	commercial	350		151		—	%	514		942		2	%	6,147		4,995		12	%Consumer:Automobile	348		5		—	%	1,226		20		—	%	21,984		426		3	%Home	equity		196		15		—	%	627		49		1	%	3,321		267		3	%Residential	mortgage	(1)	967		150		1	%	2,121		411		3	%	3,322		1,002		9	%RV	and	marine	15		1		—	%	88		4		—	%	2,200		117		3	%Other	consumer	3		—		—	%	169		1		—	%	1,336		12		1	%Total	consumer	1,529		171		—	%	4,231		485		1	%	32,163		1,824		5	%Total	loans	and	leases	1,879	$	322		—	%	4,745	$	1,427		2	%	38,310	$	6,819		9	%(1)	Residential	mortgage	deferrals	include	GNMA	serviced	loans	that	entered	forbearance	and	then	subsequently	were	bought	out	of	the	pool:	750	loans	for	$108	million	at	December	31,	2020	and	1,272	loans	for	$178	million	at	September	30,	2020.	2020	Form	10-K					59Loan	and	Lease	Credit	Exposure	MixAt	December	31,	2020,	our	loans	and	leases	totaled	$81.6	billion,	representing	a	$6.2	billion,	or	8%,	increase	compared	to	$75.4	billion	at	December	31,	2019.	Total	commercial	loans	and	leases	were	$42.6	billion	at	December	31,	2020,	and	represented	52%	of	our	total	loan	and	lease	credit	exposure.		Our	commercial	loan	portfolio	is	diversified	by	product	type,	customer	size,	and	geography	within	our	footprint,	and	is	comprised	of	the	following	(see	Commercial	Credit	discussion):C&I	–	C&I	loans	and	leases	are	made	to	commercial	customers	for	use	in	normal	business	operations	to	finance	working	capital	needs,	equipment	purchases,	or	other	projects.		We	focus	on	borrowers	doing	business	within	our	geographic	regions.		C&I	loans	and	leases	are	generally	underwritten	individually	and	secured	with	the	assets	of	the	company	and/or	the	personal	guarantee	of	the	business	owners.		The	financing	of	owner-occupied	facilities	is	considered	a	C&I	loan	even	though	there	is	improved	real	estate	as	collateral.		This	treatment	is	a	result	of	the	credit	decision	process,	which	focuses	on	cash	flow	from	operations	of	the	business	to	repay	the	debt.		The	operation,	sale,	rental,	or	refinancing	of	the	real	estate	is	not	considered	the	primary	repayment	source	for	these	types	of	loans.		As	we	have	expanded	our	C&I	portfolio,	we	have	developed	a	series	of	“vertical	specialties”	to	ensure	that	new	products	or	lending	types	are	embedded	within	a	structured,	centralized	Commercial	Lending	area	with	designated,	experienced	credit	officers.		These	specialties	are	comprised	of	either	targeted	industries	(for	example,	Healthcare,	Food	&	Agribusiness,	Finance	and	Insurance,	etc.)	and/or	lending	disciplines	(Equipment	Finance,	Asset	Based	Lending,	etc.),	all	of	which	requires	a	high	degree	of	expertise	and	oversight	to	effectively	mitigate	and	monitor	risk.		As	such,	we	have	dedicated	colleagues	and	teams	focused	on	bringing	value-added	expertise	to	these	specialty	clients.	CRE	–	CRE	loans	consist	of	loans	to	developers	and	REITs	supporting	income-producing	or	for-sale	commercial	real	estate	properties.		We	mitigate	our	risk	on	these	loans	by	requiring	collateral	values	that	exceed	the	loan	amount	and	underwriting	the	loan	with	projected	cash	flow	in	excess	of	the	debt	service	requirement.		These	loans	are	made	to	finance	properties	such	as	apartment	buildings,	office	and	industrial	buildings,	and	retail	shopping	centers,	and	are	repaid	through	cash	flows	related	to	the	operation,	sale,	or	refinance	of	the	property.		For	loans	secured	by	real	estate,	appropriate	appraisals	are	obtained	at	origination	and	updated	on	an	as	needed	basis	in	compliance	with	regulatory	requirements.Construction	CRE	–	Construction	CRE	loans	are	loans	to	developers,	companies,	or	individuals	used	for	the	construction	of	a	commercial	or	residential	property	for	which	repayment	will	be	generated	by	the	sale	or	permanent	financing	of	the	property.		Our	construction	CRE	portfolio	primarily	consists	of	retail,	multi-family,	office,	and	warehouse	project	types.		Generally,	these	loans	are	for	construction	projects	that	have	been	pre-sold	or	pre-leased,	or	have	secured	permanent	financing,	as	well	as	loans	to	real	estate	companies	with	significant	equity	invested	in	each	project.		These	loans	are	underwritten	and	managed	by	a	specialized	real	estate	lending	group	that	actively	monitors	the	construction	phase	and	manages	the	loan	disbursements	according	to	the	predetermined	construction	schedule.Total	consumer	loans	and	leases	were	$39.0	billion	at	December	31,	2020,	and	represented	48%	of	our	total	loan	and	lease	credit	exposure.		The	consumer	portfolio	is	comprised	primarily	of	automobile	loans,	home	equity	lines-of-credit,	residential	mortgages,	and	RV	and	marine	finance	(see	Consumer	Credit	discussion).Automobile	–	Automobile	loans	are	comprised	primarily	of	loans	made	through	automotive	dealerships	and	include	exposure	in	selected	states	outside	of	our	primary	banking	markets.		The	exposure	outside	of	our	core	footprint	states	represents	27%	of	the	total	exposure,	with	no	individual	state	representing	more	than	6%.		Applications	are	underwritten	using	an	automated	underwriting	system	that	applies	consistent	policies	and	processes	across	the	portfolio.Home	equity	–	Home	equity	lending	includes	both	home	equity	loans	and	lines-of-credit.		This	type	of	lending,	which	is	secured	by	a	first-lien	or	junior-lien	on	the	borrower’s	residence,	allows	customers	to	borrow	against	the	equity	in	their	home	or	refinance	existing	mortgage	debt.		Products	include	closed-end	loans	which	are	generally	fixed-rate	with	principal	and	interest	payments,	and	variable-rate,	interest-only	lines-of-credit	which	do	not	require	payment	of	principal	during	the	10-year	revolving	period.		The	home	equity	line	of	credit	converts	to	a	20-year	amortizing	structure	at	the	end	of	the	revolving	period.		Applications	are	underwritten	centrally	in	conjunction	with	an	automated	underwriting	system.		The	home	equity	underwriting	criteria	is	based	on	60					Huntington	Bancshares	Incorporatedminimum	credit	scores,	debt-to-income	ratios,	and	LTV	ratios,	with	current	collateral	valuations.		The	underwriting	for	the	floating	rate	lines	of	credit	also	incorporates	a	stress	analysis	for	rising	interest	rates.Residential	mortgage	–	Residential	mortgage	loans	represent	loans	to	consumers	for	the	purchase	or	refinance	of	a	residence.		These	loans	are	generally	financed	over	a	15-year	to	30-year	term,	and	in	most	cases,	are	extended	to	borrowers	to	finance	their	primary	residence.		Applications	are	underwritten	centrally	using	consistent	credit	policies	and	processes.		All	residential	mortgage	loan	decisions	utilize	a	full	appraisal	for	collateral	valuation.		Huntington	has	not	originated	or	acquired	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	options.RV	and	marine	–	RV	and	marine	loans	are	loans	provided	to	consumers	for	the	purpose	of	financing	recreational	vehicles	and	boats.		Loans	are	originated	on	an	indirect	basis	through	a	series	of	dealerships	across	34	states.		The	loans	are	underwritten	centrally	using	an	application	and	decisioning	system	similar	to	automobile	loans.		The	current	portfolio	includes	23%	of	the	balances	within	our	core	footprint	states.Other	consumer	–	Other	consumer	loans	primarily	consists	of	consumer	loans	not	secured	by	real	estate,	including	credit	cards,	personal	unsecured	loans,	and	overdraft	balances.		We	originate	these	products	within	our	established	set	of	credit	policies	and	guidelines.The	table	below	provides	the	composition	of	our	total	loan	and	lease	portfolio:	Table	7	-	Loan	and	Lease	Portfolio	CompositionAt	December	31,(dollar	amounts	in	millions)20202019201820172016Commercial:Commercial	and	industrial$	35,373		43	%$	30,664		41	%$	30,605		41	%$	28,107		40	%$	28,059		42	%Commercial	real	estate:Construction	1,035		1		1,123		1		1,185		2		1,217		2		1,446		2	Commercial	6,164		8		5,551		7		5,657		8		6,008		9		5,855		9	Commercial	real	estate	7,199		9		6,674		8		6,842		10		7,225		11		7,301		11	Total	commercial	42,572		52		37,338		49		37,447		51		35,332		51		35,360		53	Consumer:Automobile	12,778		16		12,797		17		12,429		16		12,100		17		10,969		16	Home	equity	8,894		11		9,093		12		9,722		13		10,099		14		10,106		15	Residential	mortgage	12,141		15		11,376		15		10,728		14		9,026		13		7,725		12	RV	and	marine	4,190		5		3,563		5		3,254		4		2,438		3		1,846		3	Other	consumer	1,033		1		1,237		2		1,320		2		1,122		2		956		1	Total	consumer	39,036		48		38,066		51		37,453		49		34,785		49		31,602		47	Total	loans	and	leases$	81,608		100	%$	75,404		100	%$	74,900		100	%$	70,117		100	%$	66,962		100	%Our	loan	portfolio	is	a	managed	mix	of	consumer	and	commercial	credits.		At	the	corporate	level,	we	manage	the	overall	credit	exposure	and	portfolio	composition	via	a	credit	concentration	policy.		The	policy	designates	specific	loan	types,	collateral	types,	and	loan	structures	to	be	formally	tracked	and	assigned	maximum	exposure	limits	as	a	percentage	of	capital.		C&I	lending	by	NAICS	categories,	specific	limits	for	CRE	project	types,	loans	secured	by	residential	real	estate,	large	dollar	exposures,	and	designated	high	risk	loan	categories	represent	examples	of	specifically	tracked	components	of	our	concentration	management	process.		There	are	no	identified	concentrations	that	exceed	the	assigned	exposure	limit.		Our	concentration	management	policy	is	approved	by	the	ROC	of	the	Board	of	Directors	and	is	used	to	ensure	a	high	quality,	well	diversified	portfolio	that	is	consistent	with	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	profile.		Changes	to	existing	concentration	limits,	incorporating	specific	information	relating	to	the	potential	impact	on	the	overall	portfolio	composition	and	performance	metrics,	require	the	approval	of	the	ROC	prior	to	implementation.	2020	Form	10-K					61Loan	and	Lease	Credit	Exposure	MixAt	December	31,	2020,	our	loans	and	leases	totaled	$81.6	billion,	representing	a	$6.2	billion,	or	8%,	increase	compared	to	$75.4	billion	at	December	31,	2019.	Total	commercial	loans	and	leases	were	$42.6	billion	at	December	31,	2020,	and	represented	52%	of	our	total	loan	and	lease	credit	exposure.		Our	commercial	loan	portfolio	is	diversified	by	product	type,	customer	size,	and	geography	within	our	footprint,	and	is	comprised	of	the	following	(see	Commercial	Credit	discussion):C&I	–	C&I	loans	and	leases	are	made	to	commercial	customers	for	use	in	normal	business	operations	to	finance	working	capital	needs,	equipment	purchases,	or	other	projects.		We	focus	on	borrowers	doing	business	within	our	geographic	regions.		C&I	loans	and	leases	are	generally	underwritten	individually	and	secured	with	the	assets	of	the	company	and/or	the	personal	guarantee	of	the	business	owners.		The	financing	of	owner-occupied	facilities	is	considered	a	C&I	loan	even	though	there	is	improved	real	estate	as	collateral.		This	treatment	is	a	result	of	the	credit	decision	process,	which	focuses	on	cash	flow	from	operations	of	the	business	to	repay	the	debt.		The	operation,	sale,	rental,	or	refinancing	of	the	real	estate	is	not	considered	the	primary	repayment	source	for	these	types	of	loans.		As	we	have	expanded	our	C&I	portfolio,	we	have	developed	a	series	of	“vertical	specialties”	to	ensure	that	new	products	or	lending	types	are	embedded	within	a	structured,	centralized	Commercial	Lending	area	with	designated,	experienced	credit	officers.		These	specialties	are	comprised	of	either	targeted	industries	(for	example,	Healthcare,	Food	&	Agribusiness,	Finance	and	Insurance,	etc.)	and/or	lending	disciplines	(Equipment	Finance,	Asset	Based	Lending,	etc.),	all	of	which	requires	a	high	degree	of	expertise	and	oversight	to	effectively	mitigate	and	monitor	risk.		As	such,	we	have	dedicated	colleagues	and	teams	focused	on	bringing	value-added	expertise	to	these	specialty	clients.	CRE	–	CRE	loans	consist	of	loans	to	developers	and	REITs	supporting	income-producing	or	for-sale	commercial	real	estate	properties.		We	mitigate	our	risk	on	these	loans	by	requiring	collateral	values	that	exceed	the	loan	amount	and	underwriting	the	loan	with	projected	cash	flow	in	excess	of	the	debt	service	requirement.		These	loans	are	made	to	finance	properties	such	as	apartment	buildings,	office	and	industrial	buildings,	and	retail	shopping	centers,	and	are	repaid	through	cash	flows	related	to	the	operation,	sale,	or	refinance	of	the	property.		For	loans	secured	by	real	estate,	appropriate	appraisals	are	obtained	at	origination	and	updated	on	an	as	needed	basis	in	compliance	with	regulatory	requirements.Construction	CRE	–	Construction	CRE	loans	are	loans	to	developers,	companies,	or	individuals	used	for	the	construction	of	a	commercial	or	residential	property	for	which	repayment	will	be	generated	by	the	sale	or	permanent	financing	of	the	property.		Our	construction	CRE	portfolio	primarily	consists	of	retail,	multi-family,	office,	and	warehouse	project	types.		Generally,	these	loans	are	for	construction	projects	that	have	been	pre-sold	or	pre-leased,	or	have	secured	permanent	financing,	as	well	as	loans	to	real	estate	companies	with	significant	equity	invested	in	each	project.		These	loans	are	underwritten	and	managed	by	a	specialized	real	estate	lending	group	that	actively	monitors	the	construction	phase	and	manages	the	loan	disbursements	according	to	the	predetermined	construction	schedule.Total	consumer	loans	and	leases	were	$39.0	billion	at	December	31,	2020,	and	represented	48%	of	our	total	loan	and	lease	credit	exposure.		The	consumer	portfolio	is	comprised	primarily	of	automobile	loans,	home	equity	lines-of-credit,	residential	mortgages,	and	RV	and	marine	finance	(see	Consumer	Credit	discussion).Automobile	–	Automobile	loans	are	comprised	primarily	of	loans	made	through	automotive	dealerships	and	include	exposure	in	selected	states	outside	of	our	primary	banking	markets.		The	exposure	outside	of	our	core	footprint	states	represents	27%	of	the	total	exposure,	with	no	individual	state	representing	more	than	6%.		Applications	are	underwritten	using	an	automated	underwriting	system	that	applies	consistent	policies	and	processes	across	the	portfolio.Home	equity	–	Home	equity	lending	includes	both	home	equity	loans	and	lines-of-credit.		This	type	of	lending,	which	is	secured	by	a	first-lien	or	junior-lien	on	the	borrower’s	residence,	allows	customers	to	borrow	against	the	equity	in	their	home	or	refinance	existing	mortgage	debt.		Products	include	closed-end	loans	which	are	generally	fixed-rate	with	principal	and	interest	payments,	and	variable-rate,	interest-only	lines-of-credit	which	do	not	require	payment	of	principal	during	the	10-year	revolving	period.		The	home	equity	line	of	credit	converts	to	a	20-year	amortizing	structure	at	the	end	of	the	revolving	period.		Applications	are	underwritten	centrally	in	conjunction	with	an	automated	underwriting	system.		The	home	equity	underwriting	criteria	is	based	on	60					Huntington	Bancshares	Incorporatedminimum	credit	scores,	debt-to-income	ratios,	and	LTV	ratios,	with	current	collateral	valuations.		The	underwriting	for	the	floating	rate	lines	of	credit	also	incorporates	a	stress	analysis	for	rising	interest	rates.Residential	mortgage	–	Residential	mortgage	loans	represent	loans	to	consumers	for	the	purchase	or	refinance	of	a	residence.		These	loans	are	generally	financed	over	a	15-year	to	30-year	term,	and	in	most	cases,	are	extended	to	borrowers	to	finance	their	primary	residence.		Applications	are	underwritten	centrally	using	consistent	credit	policies	and	processes.		All	residential	mortgage	loan	decisions	utilize	a	full	appraisal	for	collateral	valuation.		Huntington	has	not	originated	or	acquired	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	options.RV	and	marine	–	RV	and	marine	loans	are	loans	provided	to	consumers	for	the	purpose	of	financing	recreational	vehicles	and	boats.		Loans	are	originated	on	an	indirect	basis	through	a	series	of	dealerships	across	34	states.		The	loans	are	underwritten	centrally	using	an	application	and	decisioning	system	similar	to	automobile	loans.		The	current	portfolio	includes	23%	of	the	balances	within	our	core	footprint	states.Other	consumer	–	Other	consumer	loans	primarily	consists	of	consumer	loans	not	secured	by	real	estate,	including	credit	cards,	personal	unsecured	loans,	and	overdraft	balances.		We	originate	these	products	within	our	established	set	of	credit	policies	and	guidelines.The	table	below	provides	the	composition	of	our	total	loan	and	lease	portfolio:	Table	7	-	Loan	and	Lease	Portfolio	CompositionAt	December	31,(dollar	amounts	in	millions)20202019201820172016Commercial:Commercial	and	industrial$	35,373		43	%$	30,664		41	%$	30,605		41	%$	28,107		40	%$	28,059		42	%Commercial	real	estate:Construction	1,035		1		1,123		1		1,185		2		1,217		2		1,446		2	Commercial	6,164		8		5,551		7		5,657		8		6,008		9		5,855		9	Commercial	real	estate	7,199		9		6,674		8		6,842		10		7,225		11		7,301		11	Total	commercial	42,572		52		37,338		49		37,447		51		35,332		51		35,360		53	Consumer:Automobile	12,778		16		12,797		17		12,429		16		12,100		17		10,969		16	Home	equity	8,894		11		9,093		12		9,722		13		10,099		14		10,106		15	Residential	mortgage	12,141		15		11,376		15		10,728		14		9,026		13		7,725		12	RV	and	marine	4,190		5		3,563		5		3,254		4		2,438		3		1,846		3	Other	consumer	1,033		1		1,237		2		1,320		2		1,122		2		956		1	Total	consumer	39,036		48		38,066		51		37,453		49		34,785		49		31,602		47	Total	loans	and	leases$	81,608		100	%$	75,404		100	%$	74,900		100	%$	70,117		100	%$	66,962		100	%Our	loan	portfolio	is	a	managed	mix	of	consumer	and	commercial	credits.		At	the	corporate	level,	we	manage	the	overall	credit	exposure	and	portfolio	composition	via	a	credit	concentration	policy.		The	policy	designates	specific	loan	types,	collateral	types,	and	loan	structures	to	be	formally	tracked	and	assigned	maximum	exposure	limits	as	a	percentage	of	capital.		C&I	lending	by	NAICS	categories,	specific	limits	for	CRE	project	types,	loans	secured	by	residential	real	estate,	large	dollar	exposures,	and	designated	high	risk	loan	categories	represent	examples	of	specifically	tracked	components	of	our	concentration	management	process.		There	are	no	identified	concentrations	that	exceed	the	assigned	exposure	limit.		Our	concentration	management	policy	is	approved	by	the	ROC	of	the	Board	of	Directors	and	is	used	to	ensure	a	high	quality,	well	diversified	portfolio	that	is	consistent	with	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	profile.		Changes	to	existing	concentration	limits,	incorporating	specific	information	relating	to	the	potential	impact	on	the	overall	portfolio	composition	and	performance	metrics,	require	the	approval	of	the	ROC	prior	to	implementation.	2020	Form	10-K					61Loan	and	Lease	Credit	Exposure	MixAt	December	31,	2020,	our	loans	and	leases	totaled	$81.6	billion,	representing	a	$6.2	billion,	or	8%,	increase	compared	to	$75.4	billion	at	December	31,	2019.	Total	commercial	loans	and	leases	were	$42.6	billion	at	December	31,	2020,	and	represented	52%	of	our	total	loan	and	lease	credit	exposure.		Our	commercial	loan	portfolio	is	diversified	by	product	type,	customer	size,	and	geography	within	our	footprint,	and	is	comprised	of	the	following	(see	Commercial	Credit	discussion):C&I	–	C&I	loans	and	leases	are	made	to	commercial	customers	for	use	in	normal	business	operations	to	finance	working	capital	needs,	equipment	purchases,	or	other	projects.		We	focus	on	borrowers	doing	business	within	our	geographic	regions.		C&I	loans	and	leases	are	generally	underwritten	individually	and	secured	with	the	assets	of	the	company	and/or	the	personal	guarantee	of	the	business	owners.		The	financing	of	owner-occupied	facilities	is	considered	a	C&I	loan	even	though	there	is	improved	real	estate	as	collateral.		This	treatment	is	a	result	of	the	credit	decision	process,	which	focuses	on	cash	flow	from	operations	of	the	business	to	repay	the	debt.		The	operation,	sale,	rental,	or	refinancing	of	the	real	estate	is	not	considered	the	primary	repayment	source	for	these	types	of	loans.		As	we	have	expanded	our	C&I	portfolio,	we	have	developed	a	series	of	“vertical	specialties”	to	ensure	that	new	products	or	lending	types	are	embedded	within	a	structured,	centralized	Commercial	Lending	area	with	designated,	experienced	credit	officers.		These	specialties	are	comprised	of	either	targeted	industries	(for	example,	Healthcare,	Food	&	Agribusiness,	Finance	and	Insurance,	etc.)	and/or	lending	disciplines	(Equipment	Finance,	Asset	Based	Lending,	etc.),	all	of	which	requires	a	high	degree	of	expertise	and	oversight	to	effectively	mitigate	and	monitor	risk.		As	such,	we	have	dedicated	colleagues	and	teams	focused	on	bringing	value-added	expertise	to	these	specialty	clients.	CRE	–	CRE	loans	consist	of	loans	to	developers	and	REITs	supporting	income-producing	or	for-sale	commercial	real	estate	properties.		We	mitigate	our	risk	on	these	loans	by	requiring	collateral	values	that	exceed	the	loan	amount	and	underwriting	the	loan	with	projected	cash	flow	in	excess	of	the	debt	service	requirement.		These	loans	are	made	to	finance	properties	such	as	apartment	buildings,	office	and	industrial	buildings,	and	retail	shopping	centers,	and	are	repaid	through	cash	flows	related	to	the	operation,	sale,	or	refinance	of	the	property.		For	loans	secured	by	real	estate,	appropriate	appraisals	are	obtained	at	origination	and	updated	on	an	as	needed	basis	in	compliance	with	regulatory	requirements.Construction	CRE	–	Construction	CRE	loans	are	loans	to	developers,	companies,	or	individuals	used	for	the	construction	of	a	commercial	or	residential	property	for	which	repayment	will	be	generated	by	the	sale	or	permanent	financing	of	the	property.		Our	construction	CRE	portfolio	primarily	consists	of	retail,	multi-family,	office,	and	warehouse	project	types.		Generally,	these	loans	are	for	construction	projects	that	have	been	pre-sold	or	pre-leased,	or	have	secured	permanent	financing,	as	well	as	loans	to	real	estate	companies	with	significant	equity	invested	in	each	project.		These	loans	are	underwritten	and	managed	by	a	specialized	real	estate	lending	group	that	actively	monitors	the	construction	phase	and	manages	the	loan	disbursements	according	to	the	predetermined	construction	schedule.Total	consumer	loans	and	leases	were	$39.0	billion	at	December	31,	2020,	and	represented	48%	of	our	total	loan	and	lease	credit	exposure.		The	consumer	portfolio	is	comprised	primarily	of	automobile	loans,	home	equity	lines-of-credit,	residential	mortgages,	and	RV	and	marine	finance	(see	Consumer	Credit	discussion).Automobile	–	Automobile	loans	are	comprised	primarily	of	loans	made	through	automotive	dealerships	and	include	exposure	in	selected	states	outside	of	our	primary	banking	markets.		The	exposure	outside	of	our	core	footprint	states	represents	27%	of	the	total	exposure,	with	no	individual	state	representing	more	than	6%.		Applications	are	underwritten	using	an	automated	underwriting	system	that	applies	consistent	policies	and	processes	across	the	portfolio.Home	equity	–	Home	equity	lending	includes	both	home	equity	loans	and	lines-of-credit.		This	type	of	lending,	which	is	secured	by	a	first-lien	or	junior-lien	on	the	borrower’s	residence,	allows	customers	to	borrow	against	the	equity	in	their	home	or	refinance	existing	mortgage	debt.		Products	include	closed-end	loans	which	are	generally	fixed-rate	with	principal	and	interest	payments,	and	variable-rate,	interest-only	lines-of-credit	which	do	not	require	payment	of	principal	during	the	10-year	revolving	period.		The	home	equity	line	of	credit	converts	to	a	20-year	amortizing	structure	at	the	end	of	the	revolving	period.		Applications	are	underwritten	centrally	in	conjunction	with	an	automated	underwriting	system.		The	home	equity	underwriting	criteria	is	based	on	60					Huntington	Bancshares	Incorporatedminimum	credit	scores,	debt-to-income	ratios,	and	LTV	ratios,	with	current	collateral	valuations.		The	underwriting	for	the	floating	rate	lines	of	credit	also	incorporates	a	stress	analysis	for	rising	interest	rates.Residential	mortgage	–	Residential	mortgage	loans	represent	loans	to	consumers	for	the	purchase	or	refinance	of	a	residence.		These	loans	are	generally	financed	over	a	15-year	to	30-year	term,	and	in	most	cases,	are	extended	to	borrowers	to	finance	their	primary	residence.		Applications	are	underwritten	centrally	using	consistent	credit	policies	and	processes.		All	residential	mortgage	loan	decisions	utilize	a	full	appraisal	for	collateral	valuation.		Huntington	has	not	originated	or	acquired	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	options.RV	and	marine	–	RV	and	marine	loans	are	loans	provided	to	consumers	for	the	purpose	of	financing	recreational	vehicles	and	boats.		Loans	are	originated	on	an	indirect	basis	through	a	series	of	dealerships	across	34	states.		The	loans	are	underwritten	centrally	using	an	application	and	decisioning	system	similar	to	automobile	loans.		The	current	portfolio	includes	23%	of	the	balances	within	our	core	footprint	states.Other	consumer	–	Other	consumer	loans	primarily	consists	of	consumer	loans	not	secured	by	real	estate,	including	credit	cards,	personal	unsecured	loans,	and	overdraft	balances.		We	originate	these	products	within	our	established	set	of	credit	policies	and	guidelines.The	table	below	provides	the	composition	of	our	total	loan	and	lease	portfolio:	Table	7	-	Loan	and	Lease	Portfolio	CompositionAt	December	31,(dollar	amounts	in	millions)20202019201820172016Commercial:Commercial	and	industrial$	35,373		43	%$	30,664		41	%$	30,605		41	%$	28,107		40	%$	28,059		42	%Commercial	real	estate:Construction	1,035		1		1,123		1		1,185		2		1,217		2		1,446		2	Commercial	6,164		8		5,551		7		5,657		8		6,008		9		5,855		9	Commercial	real	estate	7,199		9		6,674		8		6,842		10		7,225		11		7,301		11	Total	commercial	42,572		52		37,338		49		37,447		51		35,332		51		35,360		53	Consumer:Automobile	12,778		16		12,797		17		12,429		16		12,100		17		10,969		16	Home	equity	8,894		11		9,093		12		9,722		13		10,099		14		10,106		15	Residential	mortgage	12,141		15		11,376		15		10,728		14		9,026		13		7,725		12	RV	and	marine	4,190		5		3,563		5		3,254		4		2,438		3		1,846		3	Other	consumer	1,033		1		1,237		2		1,320		2		1,122		2		956		1	Total	consumer	39,036		48		38,066		51		37,453		49		34,785		49		31,602		47	Total	loans	and	leases$	81,608		100	%$	75,404		100	%$	74,900		100	%$	70,117		100	%$	66,962		100	%Our	loan	portfolio	is	a	managed	mix	of	consumer	and	commercial	credits.		At	the	corporate	level,	we	manage	the	overall	credit	exposure	and	portfolio	composition	via	a	credit	concentration	policy.		The	policy	designates	specific	loan	types,	collateral	types,	and	loan	structures	to	be	formally	tracked	and	assigned	maximum	exposure	limits	as	a	percentage	of	capital.		C&I	lending	by	NAICS	categories,	specific	limits	for	CRE	project	types,	loans	secured	by	residential	real	estate,	large	dollar	exposures,	and	designated	high	risk	loan	categories	represent	examples	of	specifically	tracked	components	of	our	concentration	management	process.		There	are	no	identified	concentrations	that	exceed	the	assigned	exposure	limit.		Our	concentration	management	policy	is	approved	by	the	ROC	of	the	Board	of	Directors	and	is	used	to	ensure	a	high	quality,	well	diversified	portfolio	that	is	consistent	with	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	profile.		Changes	to	existing	concentration	limits,	incorporating	specific	information	relating	to	the	potential	impact	on	the	overall	portfolio	composition	and	performance	metrics,	require	the	approval	of	the	ROC	prior	to	implementation.	2020	Form	10-K					61Loan	and	Lease	Credit	Exposure	MixAt	December	31,	2020,	our	loans	and	leases	totaled	$81.6	billion,	representing	a	$6.2	billion,	or	8%,	increase	compared	to	$75.4	billion	at	December	31,	2019.	Total	commercial	loans	and	leases	were	$42.6	billion	at	December	31,	2020,	and	represented	52%	of	our	total	loan	and	lease	credit	exposure.		Our	commercial	loan	portfolio	is	diversified	by	product	type,	customer	size,	and	geography	within	our	footprint,	and	is	comprised	of	the	following	(see	Commercial	Credit	discussion):C&I	–	C&I	loans	and	leases	are	made	to	commercial	customers	for	use	in	normal	business	operations	to	finance	working	capital	needs,	equipment	purchases,	or	other	projects.		We	focus	on	borrowers	doing	business	within	our	geographic	regions.		C&I	loans	and	leases	are	generally	underwritten	individually	and	secured	with	the	assets	of	the	company	and/or	the	personal	guarantee	of	the	business	owners.		The	financing	of	owner-occupied	facilities	is	considered	a	C&I	loan	even	though	there	is	improved	real	estate	as	collateral.		This	treatment	is	a	result	of	the	credit	decision	process,	which	focuses	on	cash	flow	from	operations	of	the	business	to	repay	the	debt.		The	operation,	sale,	rental,	or	refinancing	of	the	real	estate	is	not	considered	the	primary	repayment	source	for	these	types	of	loans.		As	we	have	expanded	our	C&I	portfolio,	we	have	developed	a	series	of	“vertical	specialties”	to	ensure	that	new	products	or	lending	types	are	embedded	within	a	structured,	centralized	Commercial	Lending	area	with	designated,	experienced	credit	officers.		These	specialties	are	comprised	of	either	targeted	industries	(for	example,	Healthcare,	Food	&	Agribusiness,	Finance	and	Insurance,	etc.)	and/or	lending	disciplines	(Equipment	Finance,	Asset	Based	Lending,	etc.),	all	of	which	requires	a	high	degree	of	expertise	and	oversight	to	effectively	mitigate	and	monitor	risk.		As	such,	we	have	dedicated	colleagues	and	teams	focused	on	bringing	value-added	expertise	to	these	specialty	clients.	CRE	–	CRE	loans	consist	of	loans	to	developers	and	REITs	supporting	income-producing	or	for-sale	commercial	real	estate	properties.		We	mitigate	our	risk	on	these	loans	by	requiring	collateral	values	that	exceed	the	loan	amount	and	underwriting	the	loan	with	projected	cash	flow	in	excess	of	the	debt	service	requirement.		These	loans	are	made	to	finance	properties	such	as	apartment	buildings,	office	and	industrial	buildings,	and	retail	shopping	centers,	and	are	repaid	through	cash	flows	related	to	the	operation,	sale,	or	refinance	of	the	property.		For	loans	secured	by	real	estate,	appropriate	appraisals	are	obtained	at	origination	and	updated	on	an	as	needed	basis	in	compliance	with	regulatory	requirements.Construction	CRE	–	Construction	CRE	loans	are	loans	to	developers,	companies,	or	individuals	used	for	the	construction	of	a	commercial	or	residential	property	for	which	repayment	will	be	generated	by	the	sale	or	permanent	financing	of	the	property.		Our	construction	CRE	portfolio	primarily	consists	of	retail,	multi-family,	office,	and	warehouse	project	types.		Generally,	these	loans	are	for	construction	projects	that	have	been	pre-sold	or	pre-leased,	or	have	secured	permanent	financing,	as	well	as	loans	to	real	estate	companies	with	significant	equity	invested	in	each	project.		These	loans	are	underwritten	and	managed	by	a	specialized	real	estate	lending	group	that	actively	monitors	the	construction	phase	and	manages	the	loan	disbursements	according	to	the	predetermined	construction	schedule.Total	consumer	loans	and	leases	were	$39.0	billion	at	December	31,	2020,	and	represented	48%	of	our	total	loan	and	lease	credit	exposure.		The	consumer	portfolio	is	comprised	primarily	of	automobile	loans,	home	equity	lines-of-credit,	residential	mortgages,	and	RV	and	marine	finance	(see	Consumer	Credit	discussion).Automobile	–	Automobile	loans	are	comprised	primarily	of	loans	made	through	automotive	dealerships	and	include	exposure	in	selected	states	outside	of	our	primary	banking	markets.		The	exposure	outside	of	our	core	footprint	states	represents	27%	of	the	total	exposure,	with	no	individual	state	representing	more	than	6%.		Applications	are	underwritten	using	an	automated	underwriting	system	that	applies	consistent	policies	and	processes	across	the	portfolio.Home	equity	–	Home	equity	lending	includes	both	home	equity	loans	and	lines-of-credit.		This	type	of	lending,	which	is	secured	by	a	first-lien	or	junior-lien	on	the	borrower’s	residence,	allows	customers	to	borrow	against	the	equity	in	their	home	or	refinance	existing	mortgage	debt.		Products	include	closed-end	loans	which	are	generally	fixed-rate	with	principal	and	interest	payments,	and	variable-rate,	interest-only	lines-of-credit	which	do	not	require	payment	of	principal	during	the	10-year	revolving	period.		The	home	equity	line	of	credit	converts	to	a	20-year	amortizing	structure	at	the	end	of	the	revolving	period.		Applications	are	underwritten	centrally	in	conjunction	with	an	automated	underwriting	system.		The	home	equity	underwriting	criteria	is	based	on	60					Huntington	Bancshares	Incorporatedminimum	credit	scores,	debt-to-income	ratios,	and	LTV	ratios,	with	current	collateral	valuations.		The	underwriting	for	the	floating	rate	lines	of	credit	also	incorporates	a	stress	analysis	for	rising	interest	rates.Residential	mortgage	–	Residential	mortgage	loans	represent	loans	to	consumers	for	the	purchase	or	refinance	of	a	residence.		These	loans	are	generally	financed	over	a	15-year	to	30-year	term,	and	in	most	cases,	are	extended	to	borrowers	to	finance	their	primary	residence.		Applications	are	underwritten	centrally	using	consistent	credit	policies	and	processes.		All	residential	mortgage	loan	decisions	utilize	a	full	appraisal	for	collateral	valuation.		Huntington	has	not	originated	or	acquired	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	options.RV	and	marine	–	RV	and	marine	loans	are	loans	provided	to	consumers	for	the	purpose	of	financing	recreational	vehicles	and	boats.		Loans	are	originated	on	an	indirect	basis	through	a	series	of	dealerships	across	34	states.		The	loans	are	underwritten	centrally	using	an	application	and	decisioning	system	similar	to	automobile	loans.		The	current	portfolio	includes	23%	of	the	balances	within	our	core	footprint	states.Other	consumer	–	Other	consumer	loans	primarily	consists	of	consumer	loans	not	secured	by	real	estate,	including	credit	cards,	personal	unsecured	loans,	and	overdraft	balances.		We	originate	these	products	within	our	established	set	of	credit	policies	and	guidelines.The	table	below	provides	the	composition	of	our	total	loan	and	lease	portfolio:	Table	7	-	Loan	and	Lease	Portfolio	CompositionAt	December	31,(dollar	amounts	in	millions)20202019201820172016Commercial:Commercial	and	industrial$	35,373		43	%$	30,664		41	%$	30,605		41	%$	28,107		40	%$	28,059		42	%Commercial	real	estate:Construction	1,035		1		1,123		1		1,185		2		1,217		2		1,446		2	Commercial	6,164		8		5,551		7		5,657		8		6,008		9		5,855		9	Commercial	real	estate	7,199		9		6,674		8		6,842		10		7,225		11		7,301		11	Total	commercial	42,572		52		37,338		49		37,447		51		35,332		51		35,360		53	Consumer:Automobile	12,778		16		12,797		17		12,429		16		12,100		17		10,969		16	Home	equity	8,894		11		9,093		12		9,722		13		10,099		14		10,106		15	Residential	mortgage	12,141		15		11,376		15		10,728		14		9,026		13		7,725		12	RV	and	marine	4,190		5		3,563		5		3,254		4		2,438		3		1,846		3	Other	consumer	1,033		1		1,237		2		1,320		2		1,122		2		956		1	Total	consumer	39,036		48		38,066		51		37,453		49		34,785		49		31,602		47	Total	loans	and	leases$	81,608		100	%$	75,404		100	%$	74,900		100	%$	70,117		100	%$	66,962		100	%Our	loan	portfolio	is	a	managed	mix	of	consumer	and	commercial	credits.		At	the	corporate	level,	we	manage	the	overall	credit	exposure	and	portfolio	composition	via	a	credit	concentration	policy.		The	policy	designates	specific	loan	types,	collateral	types,	and	loan	structures	to	be	formally	tracked	and	assigned	maximum	exposure	limits	as	a	percentage	of	capital.		C&I	lending	by	NAICS	categories,	specific	limits	for	CRE	project	types,	loans	secured	by	residential	real	estate,	large	dollar	exposures,	and	designated	high	risk	loan	categories	represent	examples	of	specifically	tracked	components	of	our	concentration	management	process.		There	are	no	identified	concentrations	that	exceed	the	assigned	exposure	limit.		Our	concentration	management	policy	is	approved	by	the	ROC	of	the	Board	of	Directors	and	is	used	to	ensure	a	high	quality,	well	diversified	portfolio	that	is	consistent	with	our	overall	objective	of	maintaining	an	aggregate	moderate-to-low	risk	profile.		Changes	to	existing	concentration	limits,	incorporating	specific	information	relating	to	the	potential	impact	on	the	overall	portfolio	composition	and	performance	metrics,	require	the	approval	of	the	ROC	prior	to	implementation.	2020	Form	10-K					61The	table	below	provides	our	total	loan	and	lease	portfolio	segregated	by	industry	type.		The	changes	in	the	industry	composition	from	December	31,	2019	are	consistent	with	the	portfolio	growth	metrics.Table	8	-	Loan	and	Lease	Portfolio	by	Industry	Type(dollar	amounts	in	millions)December	31,	2020December	31,	2019PPP	LoansTotal	Loans	(2)Commercial	loans	and	leases:Real	estate	and	rental	and	leasing$	192	$	6,962		9	%$	6,662		9	%Manufacturing	826		5,556		7		5,248		7	Retail	trade	(1)	631		5,111		6		5,239		7	Health	care	and	social	assistance	801		3,646		4		2,498		3	Finance	and	insurance	123		3,389		4		3,307		4	Accommodation	and	food	services	781		3,100		4		2,072		3	Wholesale	trade	374		2,652		3		2,437		3	Professional,	scientific,	and	technical	services	704		2,051		3		1,360		2	Other	services	312		1,613		2		1,310		2	Transportation	and	warehousing	184		1,401		2		1,207		2	Construction	586		1,389		2		900		1	Admin./Support/Waste	Mgmt.	and	Remediation	Services	239		975		1		731		1	Information	77		829		1		649		1	Utilities	19		793		1		546		1	Arts,	entertainment,	and	recreation	73		744		1		690		1	Educational	services	111		735		1		463		—	Public	Administration	12		662		1		261		—	Mining,	quarrying,	and	oil	and	gas	extraction	27		601		—		1,304		2	Agriculture,	forestry,	fishing	and	hunting	19		157		—		154		—	Management	of	companies	and	enterprises	16		144		—		105		—	Unclassified/Other	10		64		—		195		—	Total	commercial	loans	and	leases	by	industry	category$	6,117	61	42,572		52	%	37,338		49	%Automobile	12,778		16		12,797		17	Home	Equity	8,894		11		9,093		12	Residential	mortgage	12,141		15		11,376		15	RV	and	marine	4,190		5		3,563		5	Other	consumer	loans	1,033		1		1,237		2	Total	loans	and	leases$	81,608		100	%$	75,404		100	%(1)	Amounts	include	$2.4	billion	and	$3.7	billion	of	auto	dealer	services	loans	at	December	31,	2020	and	December	31,	2019,	respectively.	(2)	Total	loans	include	PPP	loans	outstanding	at	December	31,	2020.Commercial	CreditThe	primary	factors	considered	in	commercial	credit	approvals	are	the	financial	strength	of	the	borrower,	assessment	of	the	borrower’s	management	capabilities,	cash	flows	from	operations,	industry	sector	trends,	type	and	sufficiency	of	collateral,	type	of	exposure,	transaction	structure,	and	the	general	economic	outlook.		While	these	are	the	primary	factors	considered,	there	are	a	number	of	other	factors	that	may	be	considered	in	the	decision	process.		We	utilize	centralized	preview	and	loan	approval	committees,	led	by	our	credit	officers.		The	risk	rating,	credit	exposure	amount,	and	complexity	of	the	credit	determines	the	threshold	for	approval.		Credit	officers	who	understand	each	local	region	and	are	experienced	in	the	industries	and	loan	structures	of	the	requested	credit	exposure	are	involved	in	all	loan	decisions	not	requiring	loan	committee	approval	and	have	the	primary	credit	authority,	with	the	exception	of	small	business	loans.		For	small	business	loans,	we	utilize	a	centralized	loan	approval	process	for	standard	products	and	structures.		In	this	centralized	decision	environment,	certain	individuals	who	understand	each	local	region	may	make	credit-extension	decisions	to	preserve	our	commitment	to	the	communities	62					Huntington	Bancshares	Incorporatedin	which	we	operate.		In	addition	to	disciplined	and	consistent	judgmental	factors,	a	sophisticated	credit	scoring	process	is	used	as	a	primary	evaluation	tool	in	the	determination	of	approving	a	loan.In	commercial	lending,	on-going	credit	management	is	dependent	on	the	type	and	nature	of	the	loan.		We	monitor	all	significant	exposures.		All	commercial	credit	extensions	are	assigned	internal	risk	ratings	reflecting	the	borrower’s	PD	and	LGD.		This	two-dimensional	rating	methodology	provides	granularity	in	the	portfolio	management	process.		The	PD	is	rated	and	applied	at	the	borrower	level.		The	LGD	is	rated	and	applied	based	on	the	specific	type	of	credit	extension	and	the	quality	and	lien	position	associated	with	the	underlying	collateral.		The	internal	risk	ratings	are	assessed	at	origination	and	updated	at	each	periodic	monitoring	event.		There	is	also	extensive	macro-portfolio	management	analysis.		We	review	and	adjust	our	risk-rating	criteria	based	on	actual	experience,	which	provides	us	with	the	current	risk	level	in	the	portfolio	and	is	the	basis	for	determining	an	appropriate	ACL	amount.		A	centralized	portfolio	management	team	monitors	and	reports	on	the	performance	of	the	entire	commercial	portfolio,	including	small	business	loans,	to	provide	consistent	oversight.In	addition	to	the	initial	credit	analysis	conducted	during	the	approval	process,	our	Credit	Review	group	performs	testing	to	provide	an	independent	review	and	assessment	of	the	quality	and	risk	of	new	loan	originations.		This	group	is	part	of	our	Risk	Management	area	and	conducts	portfolio	reviews	on	a	risk-based	cycle	to	evaluate	individual	loans,	validate	risk	ratings,	and	test	the	consistency	of	credit	processes.Our	standardized	loan	grading	system	considers	many	components	that	directly	correlate	to	loan	quality	and	likelihood	of	repayment,	one	of	which	is	guarantor	support.		On	an	at	least	annual	basis,	we	consider,	among	other	things,	the	guarantor’s	reputation	and	creditworthiness,	where	available,	along	with	various	key	financial	metrics	such	as	liquidity	and	net	worth.		Our	assessment	of	the	guarantor’s	credit	strength,	or	lack	thereof,	is	reflected	in	our	risk	ratings	for	such	loans,	which	is	directly	tied	to,	and	an	integral	component	of,	our	ACL	methodology.		When	a	loan	goes	to	impaired	status,	viable	guarantor	support	is	considered	in	the	determination	of	a	credit	loss.If	our	assessment	of	the	guarantor’s	credit	strength	yields	an	inherent	capacity	to	perform,	we	will	seek	repayment	from	the	guarantor	as	part	of	the	collection	process	and	have	done	so	successfully.		Substantially	all	loans	categorized	as	Classified	(See	Note	5	“Loans	/	Leases”	of	the	Notes	to	Consolidated	Financial	Statements)	are	managed	by	FRG.		FRG	is	a	specialized	group	of	credit	professionals	that	handle	the	day-to-day	management	of	workouts,	commercial	recoveries,	and	problem	loan	sales.		Its	responsibilities	include	developing	and	implementing	action	plans,	assessing	risk	ratings,	and	determining	the	appropriateness	of	the	allowance,	the	accrual	status,	and	the	ultimate	collectability	of	the	Classified	loan	portfolio.C&I	PORTFOLIOWe	manage	the	risks	inherent	in	the	C&I	portfolio	through	origination	policies,	a	defined	loan	concentration	policy	with	established	limits,	on-going	loan-level	and	portfolio-level	reviews,	recourse	requirements,	and	continuous	portfolio	risk	management	activities.		Our	origination	policies	for	the	C&I	portfolio	include	loan	product-type	specific	policies	such	as	LTV	and	debt	service	coverage	ratios,	as	applicable.	The	C&I	portfolio	continues	to	have	solid	origination	activity	while	we	maintain	a	focus	on	high	quality	originations.		We	continue	to	maintain	a	proactive	approach	to	identifying	borrowers	that	may	be	facing	financial	difficulty	in	order	to	maximize	the	potential	credit	outcomes.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.2020	Form	10-K					63The	table	below	provides	our	total	loan	and	lease	portfolio	segregated	by	industry	type.		The	changes	in	the	industry	composition	from	December	31,	2019	are	consistent	with	the	portfolio	growth	metrics.Table	8	-	Loan	and	Lease	Portfolio	by	Industry	Type(dollar	amounts	in	millions)December	31,	2020December	31,	2019PPP	LoansTotal	Loans	(2)Commercial	loans	and	leases:Real	estate	and	rental	and	leasing$	192	$	6,962		9	%$	6,662		9	%Manufacturing	826		5,556		7		5,248		7	Retail	trade	(1)	631		5,111		6		5,239		7	Health	care	and	social	assistance	801		3,646		4		2,498		3	Finance	and	insurance	123		3,389		4		3,307		4	Accommodation	and	food	services	781		3,100		4		2,072		3	Wholesale	trade	374		2,652		3		2,437		3	Professional,	scientific,	and	technical	services	704		2,051		3		1,360		2	Other	services	312		1,613		2		1,310		2	Transportation	and	warehousing	184		1,401		2		1,207		2	Construction	586		1,389		2		900		1	Admin./Support/Waste	Mgmt.	and	Remediation	Services	239		975		1		731		1	Information	77		829		1		649		1	Utilities	19		793		1		546		1	Arts,	entertainment,	and	recreation	73		744		1		690		1	Educational	services	111		735		1		463		—	Public	Administration	12		662		1		261		—	Mining,	quarrying,	and	oil	and	gas	extraction	27		601		—		1,304		2	Agriculture,	forestry,	fishing	and	hunting	19		157		—		154		—	Management	of	companies	and	enterprises	16		144		—		105		—	Unclassified/Other	10		64		—		195		—	Total	commercial	loans	and	leases	by	industry	category$	6,117	61	42,572		52	%	37,338		49	%Automobile	12,778		16		12,797		17	Home	Equity	8,894		11		9,093		12	Residential	mortgage	12,141		15		11,376		15	RV	and	marine	4,190		5		3,563		5	Other	consumer	loans	1,033		1		1,237		2	Total	loans	and	leases$	81,608		100	%$	75,404		100	%(1)	Amounts	include	$2.4	billion	and	$3.7	billion	of	auto	dealer	services	loans	at	December	31,	2020	and	December	31,	2019,	respectively.	(2)	Total	loans	include	PPP	loans	outstanding	at	December	31,	2020.Commercial	CreditThe	primary	factors	considered	in	commercial	credit	approvals	are	the	financial	strength	of	the	borrower,	assessment	of	the	borrower’s	management	capabilities,	cash	flows	from	operations,	industry	sector	trends,	type	and	sufficiency	of	collateral,	type	of	exposure,	transaction	structure,	and	the	general	economic	outlook.		While	these	are	the	primary	factors	considered,	there	are	a	number	of	other	factors	that	may	be	considered	in	the	decision	process.		We	utilize	centralized	preview	and	loan	approval	committees,	led	by	our	credit	officers.		The	risk	rating,	credit	exposure	amount,	and	complexity	of	the	credit	determines	the	threshold	for	approval.		Credit	officers	who	understand	each	local	region	and	are	experienced	in	the	industries	and	loan	structures	of	the	requested	credit	exposure	are	involved	in	all	loan	decisions	not	requiring	loan	committee	approval	and	have	the	primary	credit	authority,	with	the	exception	of	small	business	loans.		For	small	business	loans,	we	utilize	a	centralized	loan	approval	process	for	standard	products	and	structures.		In	this	centralized	decision	environment,	certain	individuals	who	understand	each	local	region	may	make	credit-extension	decisions	to	preserve	our	commitment	to	the	communities	62					Huntington	Bancshares	Incorporatedin	which	we	operate.		In	addition	to	disciplined	and	consistent	judgmental	factors,	a	sophisticated	credit	scoring	process	is	used	as	a	primary	evaluation	tool	in	the	determination	of	approving	a	loan.In	commercial	lending,	on-going	credit	management	is	dependent	on	the	type	and	nature	of	the	loan.		We	monitor	all	significant	exposures.		All	commercial	credit	extensions	are	assigned	internal	risk	ratings	reflecting	the	borrower’s	PD	and	LGD.		This	two-dimensional	rating	methodology	provides	granularity	in	the	portfolio	management	process.		The	PD	is	rated	and	applied	at	the	borrower	level.		The	LGD	is	rated	and	applied	based	on	the	specific	type	of	credit	extension	and	the	quality	and	lien	position	associated	with	the	underlying	collateral.		The	internal	risk	ratings	are	assessed	at	origination	and	updated	at	each	periodic	monitoring	event.		There	is	also	extensive	macro-portfolio	management	analysis.		We	review	and	adjust	our	risk-rating	criteria	based	on	actual	experience,	which	provides	us	with	the	current	risk	level	in	the	portfolio	and	is	the	basis	for	determining	an	appropriate	ACL	amount.		A	centralized	portfolio	management	team	monitors	and	reports	on	the	performance	of	the	entire	commercial	portfolio,	including	small	business	loans,	to	provide	consistent	oversight.In	addition	to	the	initial	credit	analysis	conducted	during	the	approval	process,	our	Credit	Review	group	performs	testing	to	provide	an	independent	review	and	assessment	of	the	quality	and	risk	of	new	loan	originations.		This	group	is	part	of	our	Risk	Management	area	and	conducts	portfolio	reviews	on	a	risk-based	cycle	to	evaluate	individual	loans,	validate	risk	ratings,	and	test	the	consistency	of	credit	processes.Our	standardized	loan	grading	system	considers	many	components	that	directly	correlate	to	loan	quality	and	likelihood	of	repayment,	one	of	which	is	guarantor	support.		On	an	at	least	annual	basis,	we	consider,	among	other	things,	the	guarantor’s	reputation	and	creditworthiness,	where	available,	along	with	various	key	financial	metrics	such	as	liquidity	and	net	worth.		Our	assessment	of	the	guarantor’s	credit	strength,	or	lack	thereof,	is	reflected	in	our	risk	ratings	for	such	loans,	which	is	directly	tied	to,	and	an	integral	component	of,	our	ACL	methodology.		When	a	loan	goes	to	impaired	status,	viable	guarantor	support	is	considered	in	the	determination	of	a	credit	loss.If	our	assessment	of	the	guarantor’s	credit	strength	yields	an	inherent	capacity	to	perform,	we	will	seek	repayment	from	the	guarantor	as	part	of	the	collection	process	and	have	done	so	successfully.		Substantially	all	loans	categorized	as	Classified	(See	Note	5	“Loans	/	Leases”	of	the	Notes	to	Consolidated	Financial	Statements)	are	managed	by	FRG.		FRG	is	a	specialized	group	of	credit	professionals	that	handle	the	day-to-day	management	of	workouts,	commercial	recoveries,	and	problem	loan	sales.		Its	responsibilities	include	developing	and	implementing	action	plans,	assessing	risk	ratings,	and	determining	the	appropriateness	of	the	allowance,	the	accrual	status,	and	the	ultimate	collectability	of	the	Classified	loan	portfolio.C&I	PORTFOLIOWe	manage	the	risks	inherent	in	the	C&I	portfolio	through	origination	policies,	a	defined	loan	concentration	policy	with	established	limits,	on-going	loan-level	and	portfolio-level	reviews,	recourse	requirements,	and	continuous	portfolio	risk	management	activities.		Our	origination	policies	for	the	C&I	portfolio	include	loan	product-type	specific	policies	such	as	LTV	and	debt	service	coverage	ratios,	as	applicable.	The	C&I	portfolio	continues	to	have	solid	origination	activity	while	we	maintain	a	focus	on	high	quality	originations.		We	continue	to	maintain	a	proactive	approach	to	identifying	borrowers	that	may	be	facing	financial	difficulty	in	order	to	maximize	the	potential	credit	outcomes.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.2020	Form	10-K					63The	table	below	provides	our	total	loan	and	lease	portfolio	segregated	by	industry	type.		The	changes	in	the	industry	composition	from	December	31,	2019	are	consistent	with	the	portfolio	growth	metrics.Table	8	-	Loan	and	Lease	Portfolio	by	Industry	Type(dollar	amounts	in	millions)December	31,	2020December	31,	2019PPP	LoansTotal	Loans	(2)Commercial	loans	and	leases:Real	estate	and	rental	and	leasing$	192	$	6,962		9	%$	6,662		9	%Manufacturing	826		5,556		7		5,248		7	Retail	trade	(1)	631		5,111		6		5,239		7	Health	care	and	social	assistance	801		3,646		4		2,498		3	Finance	and	insurance	123		3,389		4		3,307		4	Accommodation	and	food	services	781		3,100		4		2,072		3	Wholesale	trade	374		2,652		3		2,437		3	Professional,	scientific,	and	technical	services	704		2,051		3		1,360		2	Other	services	312		1,613		2		1,310		2	Transportation	and	warehousing	184		1,401		2		1,207		2	Construction	586		1,389		2		900		1	Admin./Support/Waste	Mgmt.	and	Remediation	Services	239		975		1		731		1	Information	77		829		1		649		1	Utilities	19		793		1		546		1	Arts,	entertainment,	and	recreation	73		744		1		690		1	Educational	services	111		735		1		463		—	Public	Administration	12		662		1		261		—	Mining,	quarrying,	and	oil	and	gas	extraction	27		601		—		1,304		2	Agriculture,	forestry,	fishing	and	hunting	19		157		—		154		—	Management	of	companies	and	enterprises	16		144		—		105		—	Unclassified/Other	10		64		—		195		—	Total	commercial	loans	and	leases	by	industry	category$	6,117	61	42,572		52	%	37,338		49	%Automobile	12,778		16		12,797		17	Home	Equity	8,894		11		9,093		12	Residential	mortgage	12,141		15		11,376		15	RV	and	marine	4,190		5		3,563		5	Other	consumer	loans	1,033		1		1,237		2	Total	loans	and	leases$	81,608		100	%$	75,404		100	%(1)	Amounts	include	$2.4	billion	and	$3.7	billion	of	auto	dealer	services	loans	at	December	31,	2020	and	December	31,	2019,	respectively.	(2)	Total	loans	include	PPP	loans	outstanding	at	December	31,	2020.Commercial	CreditThe	primary	factors	considered	in	commercial	credit	approvals	are	the	financial	strength	of	the	borrower,	assessment	of	the	borrower’s	management	capabilities,	cash	flows	from	operations,	industry	sector	trends,	type	and	sufficiency	of	collateral,	type	of	exposure,	transaction	structure,	and	the	general	economic	outlook.		While	these	are	the	primary	factors	considered,	there	are	a	number	of	other	factors	that	may	be	considered	in	the	decision	process.		We	utilize	centralized	preview	and	loan	approval	committees,	led	by	our	credit	officers.		The	risk	rating,	credit	exposure	amount,	and	complexity	of	the	credit	determines	the	threshold	for	approval.		Credit	officers	who	understand	each	local	region	and	are	experienced	in	the	industries	and	loan	structures	of	the	requested	credit	exposure	are	involved	in	all	loan	decisions	not	requiring	loan	committee	approval	and	have	the	primary	credit	authority,	with	the	exception	of	small	business	loans.		For	small	business	loans,	we	utilize	a	centralized	loan	approval	process	for	standard	products	and	structures.		In	this	centralized	decision	environment,	certain	individuals	who	understand	each	local	region	may	make	credit-extension	decisions	to	preserve	our	commitment	to	the	communities	62					Huntington	Bancshares	Incorporatedin	which	we	operate.		In	addition	to	disciplined	and	consistent	judgmental	factors,	a	sophisticated	credit	scoring	process	is	used	as	a	primary	evaluation	tool	in	the	determination	of	approving	a	loan.In	commercial	lending,	on-going	credit	management	is	dependent	on	the	type	and	nature	of	the	loan.		We	monitor	all	significant	exposures.		All	commercial	credit	extensions	are	assigned	internal	risk	ratings	reflecting	the	borrower’s	PD	and	LGD.		This	two-dimensional	rating	methodology	provides	granularity	in	the	portfolio	management	process.		The	PD	is	rated	and	applied	at	the	borrower	level.		The	LGD	is	rated	and	applied	based	on	the	specific	type	of	credit	extension	and	the	quality	and	lien	position	associated	with	the	underlying	collateral.		The	internal	risk	ratings	are	assessed	at	origination	and	updated	at	each	periodic	monitoring	event.		There	is	also	extensive	macro-portfolio	management	analysis.		We	review	and	adjust	our	risk-rating	criteria	based	on	actual	experience,	which	provides	us	with	the	current	risk	level	in	the	portfolio	and	is	the	basis	for	determining	an	appropriate	ACL	amount.		A	centralized	portfolio	management	team	monitors	and	reports	on	the	performance	of	the	entire	commercial	portfolio,	including	small	business	loans,	to	provide	consistent	oversight.In	addition	to	the	initial	credit	analysis	conducted	during	the	approval	process,	our	Credit	Review	group	performs	testing	to	provide	an	independent	review	and	assessment	of	the	quality	and	risk	of	new	loan	originations.		This	group	is	part	of	our	Risk	Management	area	and	conducts	portfolio	reviews	on	a	risk-based	cycle	to	evaluate	individual	loans,	validate	risk	ratings,	and	test	the	consistency	of	credit	processes.Our	standardized	loan	grading	system	considers	many	components	that	directly	correlate	to	loan	quality	and	likelihood	of	repayment,	one	of	which	is	guarantor	support.		On	an	at	least	annual	basis,	we	consider,	among	other	things,	the	guarantor’s	reputation	and	creditworthiness,	where	available,	along	with	various	key	financial	metrics	such	as	liquidity	and	net	worth.		Our	assessment	of	the	guarantor’s	credit	strength,	or	lack	thereof,	is	reflected	in	our	risk	ratings	for	such	loans,	which	is	directly	tied	to,	and	an	integral	component	of,	our	ACL	methodology.		When	a	loan	goes	to	impaired	status,	viable	guarantor	support	is	considered	in	the	determination	of	a	credit	loss.If	our	assessment	of	the	guarantor’s	credit	strength	yields	an	inherent	capacity	to	perform,	we	will	seek	repayment	from	the	guarantor	as	part	of	the	collection	process	and	have	done	so	successfully.		Substantially	all	loans	categorized	as	Classified	(See	Note	5	“Loans	/	Leases”	of	the	Notes	to	Consolidated	Financial	Statements)	are	managed	by	FRG.		FRG	is	a	specialized	group	of	credit	professionals	that	handle	the	day-to-day	management	of	workouts,	commercial	recoveries,	and	problem	loan	sales.		Its	responsibilities	include	developing	and	implementing	action	plans,	assessing	risk	ratings,	and	determining	the	appropriateness	of	the	allowance,	the	accrual	status,	and	the	ultimate	collectability	of	the	Classified	loan	portfolio.C&I	PORTFOLIOWe	manage	the	risks	inherent	in	the	C&I	portfolio	through	origination	policies,	a	defined	loan	concentration	policy	with	established	limits,	on-going	loan-level	and	portfolio-level	reviews,	recourse	requirements,	and	continuous	portfolio	risk	management	activities.		Our	origination	policies	for	the	C&I	portfolio	include	loan	product-type	specific	policies	such	as	LTV	and	debt	service	coverage	ratios,	as	applicable.	The	C&I	portfolio	continues	to	have	solid	origination	activity	while	we	maintain	a	focus	on	high	quality	originations.		We	continue	to	maintain	a	proactive	approach	to	identifying	borrowers	that	may	be	facing	financial	difficulty	in	order	to	maximize	the	potential	credit	outcomes.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.2020	Form	10-K					63The	table	below	provides	our	total	loan	and	lease	portfolio	segregated	by	industry	type.		The	changes	in	the	industry	composition	from	December	31,	2019	are	consistent	with	the	portfolio	growth	metrics.Table	8	-	Loan	and	Lease	Portfolio	by	Industry	Type(dollar	amounts	in	millions)December	31,	2020December	31,	2019PPP	LoansTotal	Loans	(2)Commercial	loans	and	leases:Real	estate	and	rental	and	leasing$	192	$	6,962		9	%$	6,662		9	%Manufacturing	826		5,556		7		5,248		7	Retail	trade	(1)	631		5,111		6		5,239		7	Health	care	and	social	assistance	801		3,646		4		2,498		3	Finance	and	insurance	123		3,389		4		3,307		4	Accommodation	and	food	services	781		3,100		4		2,072		3	Wholesale	trade	374		2,652		3		2,437		3	Professional,	scientific,	and	technical	services	704		2,051		3		1,360		2	Other	services	312		1,613		2		1,310		2	Transportation	and	warehousing	184		1,401		2		1,207		2	Construction	586		1,389		2		900		1	Admin./Support/Waste	Mgmt.	and	Remediation	Services	239		975		1		731		1	Information	77		829		1		649		1	Utilities	19		793		1		546		1	Arts,	entertainment,	and	recreation	73		744		1		690		1	Educational	services	111		735		1		463		—	Public	Administration	12		662		1		261		—	Mining,	quarrying,	and	oil	and	gas	extraction	27		601		—		1,304		2	Agriculture,	forestry,	fishing	and	hunting	19		157		—		154		—	Management	of	companies	and	enterprises	16		144		—		105		—	Unclassified/Other	10		64		—		195		—	Total	commercial	loans	and	leases	by	industry	category$	6,117	61	42,572		52	%	37,338		49	%Automobile	12,778		16		12,797		17	Home	Equity	8,894		11		9,093		12	Residential	mortgage	12,141		15		11,376		15	RV	and	marine	4,190		5		3,563		5	Other	consumer	loans	1,033		1		1,237		2	Total	loans	and	leases$	81,608		100	%$	75,404		100	%(1)	Amounts	include	$2.4	billion	and	$3.7	billion	of	auto	dealer	services	loans	at	December	31,	2020	and	December	31,	2019,	respectively.	(2)	Total	loans	include	PPP	loans	outstanding	at	December	31,	2020.Commercial	CreditThe	primary	factors	considered	in	commercial	credit	approvals	are	the	financial	strength	of	the	borrower,	assessment	of	the	borrower’s	management	capabilities,	cash	flows	from	operations,	industry	sector	trends,	type	and	sufficiency	of	collateral,	type	of	exposure,	transaction	structure,	and	the	general	economic	outlook.		While	these	are	the	primary	factors	considered,	there	are	a	number	of	other	factors	that	may	be	considered	in	the	decision	process.		We	utilize	centralized	preview	and	loan	approval	committees,	led	by	our	credit	officers.		The	risk	rating,	credit	exposure	amount,	and	complexity	of	the	credit	determines	the	threshold	for	approval.		Credit	officers	who	understand	each	local	region	and	are	experienced	in	the	industries	and	loan	structures	of	the	requested	credit	exposure	are	involved	in	all	loan	decisions	not	requiring	loan	committee	approval	and	have	the	primary	credit	authority,	with	the	exception	of	small	business	loans.		For	small	business	loans,	we	utilize	a	centralized	loan	approval	process	for	standard	products	and	structures.		In	this	centralized	decision	environment,	certain	individuals	who	understand	each	local	region	may	make	credit-extension	decisions	to	preserve	our	commitment	to	the	communities	62					Huntington	Bancshares	Incorporatedin	which	we	operate.		In	addition	to	disciplined	and	consistent	judgmental	factors,	a	sophisticated	credit	scoring	process	is	used	as	a	primary	evaluation	tool	in	the	determination	of	approving	a	loan.In	commercial	lending,	on-going	credit	management	is	dependent	on	the	type	and	nature	of	the	loan.		We	monitor	all	significant	exposures.		All	commercial	credit	extensions	are	assigned	internal	risk	ratings	reflecting	the	borrower’s	PD	and	LGD.		This	two-dimensional	rating	methodology	provides	granularity	in	the	portfolio	management	process.		The	PD	is	rated	and	applied	at	the	borrower	level.		The	LGD	is	rated	and	applied	based	on	the	specific	type	of	credit	extension	and	the	quality	and	lien	position	associated	with	the	underlying	collateral.		The	internal	risk	ratings	are	assessed	at	origination	and	updated	at	each	periodic	monitoring	event.		There	is	also	extensive	macro-portfolio	management	analysis.		We	review	and	adjust	our	risk-rating	criteria	based	on	actual	experience,	which	provides	us	with	the	current	risk	level	in	the	portfolio	and	is	the	basis	for	determining	an	appropriate	ACL	amount.		A	centralized	portfolio	management	team	monitors	and	reports	on	the	performance	of	the	entire	commercial	portfolio,	including	small	business	loans,	to	provide	consistent	oversight.In	addition	to	the	initial	credit	analysis	conducted	during	the	approval	process,	our	Credit	Review	group	performs	testing	to	provide	an	independent	review	and	assessment	of	the	quality	and	risk	of	new	loan	originations.		This	group	is	part	of	our	Risk	Management	area	and	conducts	portfolio	reviews	on	a	risk-based	cycle	to	evaluate	individual	loans,	validate	risk	ratings,	and	test	the	consistency	of	credit	processes.Our	standardized	loan	grading	system	considers	many	components	that	directly	correlate	to	loan	quality	and	likelihood	of	repayment,	one	of	which	is	guarantor	support.		On	an	at	least	annual	basis,	we	consider,	among	other	things,	the	guarantor’s	reputation	and	creditworthiness,	where	available,	along	with	various	key	financial	metrics	such	as	liquidity	and	net	worth.		Our	assessment	of	the	guarantor’s	credit	strength,	or	lack	thereof,	is	reflected	in	our	risk	ratings	for	such	loans,	which	is	directly	tied	to,	and	an	integral	component	of,	our	ACL	methodology.		When	a	loan	goes	to	impaired	status,	viable	guarantor	support	is	considered	in	the	determination	of	a	credit	loss.If	our	assessment	of	the	guarantor’s	credit	strength	yields	an	inherent	capacity	to	perform,	we	will	seek	repayment	from	the	guarantor	as	part	of	the	collection	process	and	have	done	so	successfully.		Substantially	all	loans	categorized	as	Classified	(See	Note	5	“Loans	/	Leases”	of	the	Notes	to	Consolidated	Financial	Statements)	are	managed	by	FRG.		FRG	is	a	specialized	group	of	credit	professionals	that	handle	the	day-to-day	management	of	workouts,	commercial	recoveries,	and	problem	loan	sales.		Its	responsibilities	include	developing	and	implementing	action	plans,	assessing	risk	ratings,	and	determining	the	appropriateness	of	the	allowance,	the	accrual	status,	and	the	ultimate	collectability	of	the	Classified	loan	portfolio.C&I	PORTFOLIOWe	manage	the	risks	inherent	in	the	C&I	portfolio	through	origination	policies,	a	defined	loan	concentration	policy	with	established	limits,	on-going	loan-level	and	portfolio-level	reviews,	recourse	requirements,	and	continuous	portfolio	risk	management	activities.		Our	origination	policies	for	the	C&I	portfolio	include	loan	product-type	specific	policies	such	as	LTV	and	debt	service	coverage	ratios,	as	applicable.	The	C&I	portfolio	continues	to	have	solid	origination	activity	while	we	maintain	a	focus	on	high	quality	originations.		We	continue	to	maintain	a	proactive	approach	to	identifying	borrowers	that	may	be	facing	financial	difficulty	in	order	to	maximize	the	potential	credit	outcomes.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.2020	Form	10-K					63CRE	PORTFOLIO
CRE	PORTFOLIO

AUTOMOBILE	PORTFOLIO

AUTOMOBILE	PORTFOLIO

We	manage	the	risks	inherent	in	this	portfolio	specific	to	CRE	lending,	focusing	on	the	quality	of	the	developer	
We	manage	the	risks	inherent	in	this	portfolio	specific	to	CRE	lending,	focusing	on	the	quality	of	the	developer	
and	the	specifics	associated	with	each	project.		Generally,	we:	(1)	limit	our	loans	to	80%	of	the	appraised	value	of	the	
and	the	specifics	associated	with	each	project.		Generally,	we:	(1)	limit	our	loans	to	80%	of	the	appraised	value	of	the	
commercial	real	estate	at	origination,	(2)	require	net	operating	cash	flows	to	be	120%	of	required	interest	and	
commercial	real	estate	at	origination,	(2)	require	net	operating	cash	flows	to	be	120%	of	required	interest	and	
principal	payments,	and	(3)	if	the	commercial	real	estate	is	non-owner	occupied,	require	that	pre-leasing	generate	
principal	payments,	and	(3)	if	the	commercial	real	estate	is	non-owner	occupied,	require	that	pre-leasing	generate	
break-even	interest-only	debt	service.		We	actively	monitor	both	geographic	and	project-type	concentrations	and	
break-even	interest-only	debt	service.		We	actively	monitor	both	geographic	and	project-type	concentrations	and	
performance	metrics	of	all	CRE	loan	types,	with	a	focus	on	loans	identified	as	higher	risk	based	on	the	risk	rating	
performance	metrics	of	all	CRE	loan	types,	with	a	focus	on	loans	identified	as	higher	risk	based	on	the	risk	rating	
methodology.		Both	macro-level	and	loan-level	stress-test	scenarios	based	on	existing	and	forecast	market	
methodology.		Both	macro-level	and	loan-level	stress-test	scenarios	based	on	existing	and	forecast	market	
conditions	are	part	of	the	on-going	portfolio	management	process	for	the	CRE	portfolio.
conditions	are	part	of	the	on-going	portfolio	management	process	for	the	CRE	portfolio.

Dedicated	real	estate	professionals	originate	and	manage	the	portfolio.		The	portfolio	is	diversified	by	project	
Dedicated	real	estate	professionals	originate	and	manage	the	portfolio.		The	portfolio	is	diversified	by	project	

type	and	loan	size,	and	this	diversification	represents	a	significant	portion	of	the	credit	risk	management	strategies	
type	and	loan	size,	and	this	diversification	represents	a	significant	portion	of	the	credit	risk	management	strategies	
employed	for	this	portfolio.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	
employed	for	this	portfolio.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	
independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.
independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.

Appraisal	values	are	obtained	in	conjunction	with	all	originations	and	renewals,	and	on	an	as-needed	basis,	in	
Appraisal	values	are	obtained	in	conjunction	with	all	originations	and	renewals,	and	on	an	as-needed	basis,	in	
compliance	with	regulatory	requirements	and	to	ensure	appropriate	decisions	regarding	the	on-going	management	
compliance	with	regulatory	requirements	and	to	ensure	appropriate	decisions	regarding	the	on-going	management	
of	the	portfolio	reflect	the	changing	market	conditions.		Appraisals	are	obtained	from	approved	vendors	and	are	
of	the	portfolio	reflect	the	changing	market	conditions.		Appraisals	are	obtained	from	approved	vendors	and	are	
reviewed	by	an	internal	appraisal	review	group	comprised	of	certified	appraisers	to	ensure	the	quality	of	the	
reviewed	by	an	internal	appraisal	review	group	comprised	of	certified	appraisers	to	ensure	the	quality	of	the	
valuation	used	in	the	underwriting	process.		We	continue	to	perform	on-going	portfolio	level	reviews	within	the	CRE	
valuation	used	in	the	underwriting	process.		We	continue	to	perform	on-going	portfolio	level	reviews	within	the	CRE	
portfolio.		These	reviews	generate	action	plans	based	on	occupancy	levels	or	sales	volume	associated	with	the	
portfolio.		These	reviews	generate	action	plans	based	on	occupancy	levels	or	sales	volume	associated	with	the	
projects	being	reviewed.		This	highly	individualized	process	requires	working	closely	with	all	of	our	borrowers,	as	
projects	being	reviewed.		This	highly	individualized	process	requires	working	closely	with	all	of	our	borrowers,	as	
well	as	an	in-depth	knowledge	of	CRE	project	lending	and	the	market	environment.
well	as	an	in-depth	knowledge	of	CRE	project	lending	and	the	market	environment.

Consumer	Credit
Consumer	Credit

Consumer	credit	approvals	are	based	on,	among	other	factors,	the	financial	strength	and	payment	history	of	the	
Consumer	credit	approvals	are	based	on,	among	other	factors,	the	financial	strength	and	payment	history	of	the	

borrower,	type	of	exposure,	and	transaction	structure.		Consumer	credit	decisions	are	generally	made	in	a	
borrower,	type	of	exposure,	and	transaction	structure.		Consumer	credit	decisions	are	generally	made	in	a	
centralized	environment	utilizing	decision	models.		Importantly,	certain	individuals	who	understand	each	local	
centralized	environment	utilizing	decision	models.		Importantly,	certain	individuals	who	understand	each	local	
region	have	the	authority	to	make	credit	extension	decisions	to	preserve	our	focus	on	the	local	communities	in	
region	have	the	authority	to	make	credit	extension	decisions	to	preserve	our	focus	on	the	local	communities	in	
which	we	operate.		For	all	classes	within	the	consumer	loan	portfolio,	loans	are	assigned	pool	level	PD	factors	based	
which	we	operate.		For	all	classes	within	the	consumer	loan	portfolio,	loans	are	assigned	pool	level	PD	factors	based	
on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		The	credit	bureau	score	is	widely	accepted	
on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		The	credit	bureau	score	is	widely	accepted	
as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	
as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	
LGD	is	related	to	the	type	of	collateral	associated	with	the	credit	extension,	which	typically	does	not	change	over	the	
LGD	is	related	to	the	type	of	collateral	associated	with	the	credit	extension,	which	typically	does	not	change	over	the	
course	of	the	loan	term.		This	allows	Huntington	to	maintain	a	current	view	of	the	customer	for	credit	risk	
course	of	the	loan	term.		This	allows	Huntington	to	maintain	a	current	view	of	the	customer	for	credit	risk	
management	and	ACL	purposes.		
management	and	ACL	purposes.		

In	consumer	lending,	credit	risk	is	managed	from	a	segment	(i.e.,	loan	type,	collateral	position,	geography,	etc.)	
In	consumer	lending,	credit	risk	is	managed	from	a	segment	(i.e.,	loan	type,	collateral	position,	geography,	etc.)	

and	vintage	performance	analysis.		All	portfolio	segments	are	continuously	monitored	for	changes	in	delinquency	
and	vintage	performance	analysis.		All	portfolio	segments	are	continuously	monitored	for	changes	in	delinquency	
trends	and	other	asset	quality	indicators.		We	make	extensive	use	of	portfolio	assessment	models	to	continuously	
trends	and	other	asset	quality	indicators.		We	make	extensive	use	of	portfolio	assessment	models	to	continuously	
monitor	the	quality	of	the	portfolio,	which	may	result	in	changes	to	future	origination	strategies.		The	independent	
monitor	the	quality	of	the	portfolio,	which	may	result	in	changes	to	future	origination	strategies.		The	independent	
risk	management	group	has	a	consumer	process	review	component	to	ensure	the	effectiveness	and	efficiency	of	the	
risk	management	group	has	a	consumer	process	review	component	to	ensure	the	effectiveness	and	efficiency	of	the	
consumer	credit	processes.
consumer	credit	processes.

Collection	actions	by	our	customer	assistance	team	are	initiated	as	needed	through	a	centrally	managed	
Collection	actions	by	our	customer	assistance	team	are	initiated	as	needed	through	a	centrally	managed	

collection	and	recovery	function.		We	employ	a	series	of	collection	methodologies	designed	to	maintain	a	high	level	
collection	and	recovery	function.		We	employ	a	series	of	collection	methodologies	designed	to	maintain	a	high	level	
of	effectiveness,	while	maximizing	efficiency.		In	addition	to	the	consumer	loan	portfolio,	the	customer	assistance	
of	effectiveness,	while	maximizing	efficiency.		In	addition	to	the	consumer	loan	portfolio,	the	customer	assistance	
team	is	responsible	for	collection	activity	on	all	sold	and	securitized	consumer	loans	and	leases.		Collection	practices	
team	is	responsible	for	collection	activity	on	all	sold	and	securitized	consumer	loans	and	leases.		Collection	practices	
include	a	single	contact	point	for	the	majority	of	the	residential	real	estate	secured	portfolios.		
include	a	single	contact	point	for	the	majority	of	the	residential	real	estate	secured	portfolios.		

Our	strategy	in	the	automobile	portfolio	continues	to	focus	on	high	quality	borrowers	as	measured	by	both	FICO	

Our	strategy	in	the	automobile	portfolio	continues	to	focus	on	high	quality	borrowers	as	measured	by	both	FICO	

and	internal	custom	scores,	combined	with	appropriate	LTVs,	terms,	and	profitability.		Our	strategy	and	operational	

and	internal	custom	scores,	combined	with	appropriate	LTVs,	terms,	and	profitability.		Our	strategy	and	operational	

capabilities	allow	us	to	appropriately	manage	the	origination	quality	across	the	entire	portfolio,	including	our	newer	

capabilities	allow	us	to	appropriately	manage	the	origination	quality	across	the	entire	portfolio,	including	our	newer	

markets.		Although	increased	origination	volume	and	entering	new	markets	can	be	associated	with	increased	risk	

markets.		Although	increased	origination	volume	and	entering	new	markets	can	be	associated	with	increased	risk	

levels,	we	believe	our	disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

levels,	we	believe	our	disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

We	have	continued	to	consistently	execute	our	value	proposition	and	take	advantage	of	available	market	

We	have	continued	to	consistently	execute	our	value	proposition	and	take	advantage	of	available	market	

opportunities.		Importantly,	we	have	maintained	our	high	credit	quality	standards	while	expanding	the	portfolio.

opportunities.		Importantly,	we	have	maintained	our	high	credit	quality	standards	while	expanding	the	portfolio.

RESIDENTIAL	REAL	ESTATE	SECURED	PORTFOLIOS

RESIDENTIAL	REAL	ESTATE	SECURED	PORTFOLIOS

The	properties	securing	our	residential	mortgage	and	home	equity	portfolios	are	primarily	located	within	our	

The	properties	securing	our	residential	mortgage	and	home	equity	portfolios	are	primarily	located	within	our	

geographic	footprint.		Huntington	continues	to	support	our	local	markets	with	consistent	underwriting	across	all	

geographic	footprint.		Huntington	continues	to	support	our	local	markets	with	consistent	underwriting	across	all	

residential	secured	products.		The	residential	secured	portfolio	originations	continue	to	be	of	high	quality.		Our	

residential	secured	products.		The	residential	secured	portfolio	originations	continue	to	be	of	high	quality.		Our	

portfolio	management	strategies	associated	with	our	Home	Savers	group	allow	us	to	focus	on	effectively	helping	our	

portfolio	management	strategies	associated	with	our	Home	Savers	group	allow	us	to	focus	on	effectively	helping	our	

customers	with	appropriate	solutions	for	their	specific	circumstances.

customers	with	appropriate	solutions	for	their	specific	circumstances.

Huntington	underwrites	all	residential	mortgage	applications	centrally,	with	a	focus	on	higher	quality	borrowers.		

Huntington	underwrites	all	residential	mortgage	applications	centrally,	with	a	focus	on	higher	quality	borrowers.		

We	do	not	originate	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	

We	do	not	originate	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	

options.		Residential	mortgages	are	originated	based	on	a	completed	full	appraisal	during	the	credit	underwriting	

options.		Residential	mortgages	are	originated	based	on	a	completed	full	appraisal	during	the	credit	underwriting	

process.		We	update	values	in	compliance	with	applicable	regulations	to	facilitate	our	portfolio	management,	as	well	

process.		We	update	values	in	compliance	with	applicable	regulations	to	facilitate	our	portfolio	management,	as	well	

as	our	workout	and	loss	mitigation	functions.

as	our	workout	and	loss	mitigation	functions.

We	are	subject	to	repurchase	risk	associated	with	residential	mortgage	loans	sold	in	the	secondary	market.		An	

We	are	subject	to	repurchase	risk	associated	with	residential	mortgage	loans	sold	in	the	secondary	market.		An	

appropriate	level	of	reserve	for	representations	and	warranties	related	to	residential	mortgage	loans	sold	has	been	

appropriate	level	of	reserve	for	representations	and	warranties	related	to	residential	mortgage	loans	sold	has	been	

established	to	address	this	repurchase	risk	inherent	in	the	portfolio.

established	to	address	this	repurchase	risk	inherent	in	the	portfolio.

Our	strategy	in	the	RV	and	Marine	portfolio	focuses	on	high	quality	borrowers,	combined	with	appropriate	LTVs,	

Our	strategy	in	the	RV	and	Marine	portfolio	focuses	on	high	quality	borrowers,	combined	with	appropriate	LTVs,	

terms,	and	profitability.		Although	entering	new	markets	can	be	associated	with	increased	risk	levels,	we	believe	our	

terms,	and	profitability.		Although	entering	new	markets	can	be	associated	with	increased	risk	levels,	we	believe	our	

disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

RV	AND	MARINE	PORTFOLIO

RV	AND	MARINE	PORTFOLIO

Credit	Quality

Credit	Quality

(This	section	should	be	read	in	conjunction	with	Note	5	“Loans	/	Leases	and	Note	6	“Allowance	for	Credit	Losses”	of	

(This	section	should	be	read	in	conjunction	with	Note	5	“Loans	/	Leases	and	Note	6	“Allowance	for	Credit	Losses”	of	

the	Notes	to	Consolidated	Financial	Statements.)

the	Notes	to	Consolidated	Financial	Statements.)

We	believe	the	most	meaningful	way	to	assess	overall	credit	quality	performance	is	through	an	analysis	of	

We	believe	the	most	meaningful	way	to	assess	overall	credit	quality	performance	is	through	an	analysis	of	

specific	performance	ratios.		This	approach	forms	the	basis	of	the	discussion	in	the	sections	immediately	following:	

specific	performance	ratios.		This	approach	forms	the	basis	of	the	discussion	in	the	sections	immediately	following:	

NPAs,	NALs,	TDRs,	ACL,	and	NCOs.		In	addition,	we	utilize	delinquency	rates,	risk	distribution	and	migration	patterns,	

NPAs,	NALs,	TDRs,	ACL,	and	NCOs.		In	addition,	we	utilize	delinquency	rates,	risk	distribution	and	migration	patterns,	

product	segmentation,	and	origination	trends	in	the	analysis	of	our	credit	quality	performance.

product	segmentation,	and	origination	trends	in	the	analysis	of	our	credit	quality	performance.

Credit	quality	performance	in	2020	was	weaker	than	prior	periods	primarily	due	to	the	deterioration	in	the	

Credit	quality	performance	in	2020	was	weaker	than	prior	periods	primarily	due	to	the	deterioration	in	the	

economic	environment	as	a	result	of	the	COVID-19	pandemic.		Total	NCOs	were	$449	million	or	0.57%	of	average	

economic	environment	as	a	result	of	the	COVID-19	pandemic.		Total	NCOs	were	$449	million	or	0.57%	of	average	

total	loans	and	leases,	an	increase	from	$265	million	or	0.35%	in	the	prior	year.		There	was	a	13%	increase	in	NPAs	

total	loans	and	leases,	an	increase	from	$265	million	or	0.35%	in	the	prior	year.		There	was	a	13%	increase	in	NPAs	

from	the	prior	year.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	

from	the	prior	year.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	

December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	

December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	

deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.

deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.

64					Huntington	Bancshares	Incorporated
64					Huntington	Bancshares	Incorporated

2020	Form	10-K					65

2020	Form	10-K					65

CRE	PORTFOLIO

CRE	PORTFOLIO

AUTOMOBILE	PORTFOLIO
AUTOMOBILE	PORTFOLIO

We	manage	the	risks	inherent	in	this	portfolio	specific	to	CRE	lending,	focusing	on	the	quality	of	the	developer	

We	manage	the	risks	inherent	in	this	portfolio	specific	to	CRE	lending,	focusing	on	the	quality	of	the	developer	

and	the	specifics	associated	with	each	project.		Generally,	we:	(1)	limit	our	loans	to	80%	of	the	appraised	value	of	the	

and	the	specifics	associated	with	each	project.		Generally,	we:	(1)	limit	our	loans	to	80%	of	the	appraised	value	of	the	

commercial	real	estate	at	origination,	(2)	require	net	operating	cash	flows	to	be	120%	of	required	interest	and	

commercial	real	estate	at	origination,	(2)	require	net	operating	cash	flows	to	be	120%	of	required	interest	and	

principal	payments,	and	(3)	if	the	commercial	real	estate	is	non-owner	occupied,	require	that	pre-leasing	generate	

principal	payments,	and	(3)	if	the	commercial	real	estate	is	non-owner	occupied,	require	that	pre-leasing	generate	

break-even	interest-only	debt	service.		We	actively	monitor	both	geographic	and	project-type	concentrations	and	

break-even	interest-only	debt	service.		We	actively	monitor	both	geographic	and	project-type	concentrations	and	

performance	metrics	of	all	CRE	loan	types,	with	a	focus	on	loans	identified	as	higher	risk	based	on	the	risk	rating	

performance	metrics	of	all	CRE	loan	types,	with	a	focus	on	loans	identified	as	higher	risk	based	on	the	risk	rating	

methodology.		Both	macro-level	and	loan-level	stress-test	scenarios	based	on	existing	and	forecast	market	

methodology.		Both	macro-level	and	loan-level	stress-test	scenarios	based	on	existing	and	forecast	market	

conditions	are	part	of	the	on-going	portfolio	management	process	for	the	CRE	portfolio.

conditions	are	part	of	the	on-going	portfolio	management	process	for	the	CRE	portfolio.

Dedicated	real	estate	professionals	originate	and	manage	the	portfolio.		The	portfolio	is	diversified	by	project	

Dedicated	real	estate	professionals	originate	and	manage	the	portfolio.		The	portfolio	is	diversified	by	project	

type	and	loan	size,	and	this	diversification	represents	a	significant	portion	of	the	credit	risk	management	strategies	

type	and	loan	size,	and	this	diversification	represents	a	significant	portion	of	the	credit	risk	management	strategies	

employed	for	this	portfolio.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	

employed	for	this	portfolio.		Subsequent	to	the	origination	of	the	loan,	the	Credit	Review	group	provides	an	

independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.

independent	review	and	assessment	of	the	quality	of	the	underwriting	and	risk	of	new	loan	originations.

Appraisal	values	are	obtained	in	conjunction	with	all	originations	and	renewals,	and	on	an	as-needed	basis,	in	

Appraisal	values	are	obtained	in	conjunction	with	all	originations	and	renewals,	and	on	an	as-needed	basis,	in	

compliance	with	regulatory	requirements	and	to	ensure	appropriate	decisions	regarding	the	on-going	management	

compliance	with	regulatory	requirements	and	to	ensure	appropriate	decisions	regarding	the	on-going	management	

of	the	portfolio	reflect	the	changing	market	conditions.		Appraisals	are	obtained	from	approved	vendors	and	are	

of	the	portfolio	reflect	the	changing	market	conditions.		Appraisals	are	obtained	from	approved	vendors	and	are	

reviewed	by	an	internal	appraisal	review	group	comprised	of	certified	appraisers	to	ensure	the	quality	of	the	

reviewed	by	an	internal	appraisal	review	group	comprised	of	certified	appraisers	to	ensure	the	quality	of	the	

valuation	used	in	the	underwriting	process.		We	continue	to	perform	on-going	portfolio	level	reviews	within	the	CRE	

valuation	used	in	the	underwriting	process.		We	continue	to	perform	on-going	portfolio	level	reviews	within	the	CRE	

portfolio.		These	reviews	generate	action	plans	based	on	occupancy	levels	or	sales	volume	associated	with	the	

portfolio.		These	reviews	generate	action	plans	based	on	occupancy	levels	or	sales	volume	associated	with	the	

projects	being	reviewed.		This	highly	individualized	process	requires	working	closely	with	all	of	our	borrowers,	as	

projects	being	reviewed.		This	highly	individualized	process	requires	working	closely	with	all	of	our	borrowers,	as	

well	as	an	in-depth	knowledge	of	CRE	project	lending	and	the	market	environment.

well	as	an	in-depth	knowledge	of	CRE	project	lending	and	the	market	environment.

Consumer	Credit

Consumer	Credit

Consumer	credit	approvals	are	based	on,	among	other	factors,	the	financial	strength	and	payment	history	of	the	

Consumer	credit	approvals	are	based	on,	among	other	factors,	the	financial	strength	and	payment	history	of	the	

borrower,	type	of	exposure,	and	transaction	structure.		Consumer	credit	decisions	are	generally	made	in	a	

borrower,	type	of	exposure,	and	transaction	structure.		Consumer	credit	decisions	are	generally	made	in	a	

centralized	environment	utilizing	decision	models.		Importantly,	certain	individuals	who	understand	each	local	

centralized	environment	utilizing	decision	models.		Importantly,	certain	individuals	who	understand	each	local	

region	have	the	authority	to	make	credit	extension	decisions	to	preserve	our	focus	on	the	local	communities	in	

region	have	the	authority	to	make	credit	extension	decisions	to	preserve	our	focus	on	the	local	communities	in	

which	we	operate.		For	all	classes	within	the	consumer	loan	portfolio,	loans	are	assigned	pool	level	PD	factors	based	

which	we	operate.		For	all	classes	within	the	consumer	loan	portfolio,	loans	are	assigned	pool	level	PD	factors	based	

on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		The	credit	bureau	score	is	widely	accepted	

on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		The	credit	bureau	score	is	widely	accepted	

as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	

as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	

LGD	is	related	to	the	type	of	collateral	associated	with	the	credit	extension,	which	typically	does	not	change	over	the	

LGD	is	related	to	the	type	of	collateral	associated	with	the	credit	extension,	which	typically	does	not	change	over	the	

course	of	the	loan	term.		This	allows	Huntington	to	maintain	a	current	view	of	the	customer	for	credit	risk	

course	of	the	loan	term.		This	allows	Huntington	to	maintain	a	current	view	of	the	customer	for	credit	risk	

management	and	ACL	purposes.		

management	and	ACL	purposes.		

In	consumer	lending,	credit	risk	is	managed	from	a	segment	(i.e.,	loan	type,	collateral	position,	geography,	etc.)	

In	consumer	lending,	credit	risk	is	managed	from	a	segment	(i.e.,	loan	type,	collateral	position,	geography,	etc.)	

and	vintage	performance	analysis.		All	portfolio	segments	are	continuously	monitored	for	changes	in	delinquency	

and	vintage	performance	analysis.		All	portfolio	segments	are	continuously	monitored	for	changes	in	delinquency	

trends	and	other	asset	quality	indicators.		We	make	extensive	use	of	portfolio	assessment	models	to	continuously	

trends	and	other	asset	quality	indicators.		We	make	extensive	use	of	portfolio	assessment	models	to	continuously	

monitor	the	quality	of	the	portfolio,	which	may	result	in	changes	to	future	origination	strategies.		The	independent	

monitor	the	quality	of	the	portfolio,	which	may	result	in	changes	to	future	origination	strategies.		The	independent	

risk	management	group	has	a	consumer	process	review	component	to	ensure	the	effectiveness	and	efficiency	of	the	

risk	management	group	has	a	consumer	process	review	component	to	ensure	the	effectiveness	and	efficiency	of	the	

consumer	credit	processes.

consumer	credit	processes.

Collection	actions	by	our	customer	assistance	team	are	initiated	as	needed	through	a	centrally	managed	

Collection	actions	by	our	customer	assistance	team	are	initiated	as	needed	through	a	centrally	managed	

collection	and	recovery	function.		We	employ	a	series	of	collection	methodologies	designed	to	maintain	a	high	level	

collection	and	recovery	function.		We	employ	a	series	of	collection	methodologies	designed	to	maintain	a	high	level	

of	effectiveness,	while	maximizing	efficiency.		In	addition	to	the	consumer	loan	portfolio,	the	customer	assistance	

of	effectiveness,	while	maximizing	efficiency.		In	addition	to	the	consumer	loan	portfolio,	the	customer	assistance	

team	is	responsible	for	collection	activity	on	all	sold	and	securitized	consumer	loans	and	leases.		Collection	practices	

team	is	responsible	for	collection	activity	on	all	sold	and	securitized	consumer	loans	and	leases.		Collection	practices	

include	a	single	contact	point	for	the	majority	of	the	residential	real	estate	secured	portfolios.		

include	a	single	contact	point	for	the	majority	of	the	residential	real	estate	secured	portfolios.		

Our	strategy	in	the	automobile	portfolio	continues	to	focus	on	high	quality	borrowers	as	measured	by	both	FICO	
Our	strategy	in	the	automobile	portfolio	continues	to	focus	on	high	quality	borrowers	as	measured	by	both	FICO	
and	internal	custom	scores,	combined	with	appropriate	LTVs,	terms,	and	profitability.		Our	strategy	and	operational	
and	internal	custom	scores,	combined	with	appropriate	LTVs,	terms,	and	profitability.		Our	strategy	and	operational	
capabilities	allow	us	to	appropriately	manage	the	origination	quality	across	the	entire	portfolio,	including	our	newer	
capabilities	allow	us	to	appropriately	manage	the	origination	quality	across	the	entire	portfolio,	including	our	newer	
markets.		Although	increased	origination	volume	and	entering	new	markets	can	be	associated	with	increased	risk	
markets.		Although	increased	origination	volume	and	entering	new	markets	can	be	associated	with	increased	risk	
levels,	we	believe	our	disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.
levels,	we	believe	our	disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

We	have	continued	to	consistently	execute	our	value	proposition	and	take	advantage	of	available	market	
We	have	continued	to	consistently	execute	our	value	proposition	and	take	advantage	of	available	market	
opportunities.		Importantly,	we	have	maintained	our	high	credit	quality	standards	while	expanding	the	portfolio.
opportunities.		Importantly,	we	have	maintained	our	high	credit	quality	standards	while	expanding	the	portfolio.

RESIDENTIAL	REAL	ESTATE	SECURED	PORTFOLIOS
RESIDENTIAL	REAL	ESTATE	SECURED	PORTFOLIOS

The	properties	securing	our	residential	mortgage	and	home	equity	portfolios	are	primarily	located	within	our	
The	properties	securing	our	residential	mortgage	and	home	equity	portfolios	are	primarily	located	within	our	
geographic	footprint.		Huntington	continues	to	support	our	local	markets	with	consistent	underwriting	across	all	
geographic	footprint.		Huntington	continues	to	support	our	local	markets	with	consistent	underwriting	across	all	
residential	secured	products.		The	residential	secured	portfolio	originations	continue	to	be	of	high	quality.		Our	
residential	secured	products.		The	residential	secured	portfolio	originations	continue	to	be	of	high	quality.		Our	
portfolio	management	strategies	associated	with	our	Home	Savers	group	allow	us	to	focus	on	effectively	helping	our	
portfolio	management	strategies	associated	with	our	Home	Savers	group	allow	us	to	focus	on	effectively	helping	our	
customers	with	appropriate	solutions	for	their	specific	circumstances.
customers	with	appropriate	solutions	for	their	specific	circumstances.

Huntington	underwrites	all	residential	mortgage	applications	centrally,	with	a	focus	on	higher	quality	borrowers.		
Huntington	underwrites	all	residential	mortgage	applications	centrally,	with	a	focus	on	higher	quality	borrowers.		
We	do	not	originate	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	
We	do	not	originate	residential	mortgages	that	allow	negative	amortization	or	allow	the	borrower	multiple	payment	
options.		Residential	mortgages	are	originated	based	on	a	completed	full	appraisal	during	the	credit	underwriting	
options.		Residential	mortgages	are	originated	based	on	a	completed	full	appraisal	during	the	credit	underwriting	
process.		We	update	values	in	compliance	with	applicable	regulations	to	facilitate	our	portfolio	management,	as	well	
process.		We	update	values	in	compliance	with	applicable	regulations	to	facilitate	our	portfolio	management,	as	well	
as	our	workout	and	loss	mitigation	functions.
as	our	workout	and	loss	mitigation	functions.

We	are	subject	to	repurchase	risk	associated	with	residential	mortgage	loans	sold	in	the	secondary	market.		An	
We	are	subject	to	repurchase	risk	associated	with	residential	mortgage	loans	sold	in	the	secondary	market.		An	
appropriate	level	of	reserve	for	representations	and	warranties	related	to	residential	mortgage	loans	sold	has	been	
appropriate	level	of	reserve	for	representations	and	warranties	related	to	residential	mortgage	loans	sold	has	been	
established	to	address	this	repurchase	risk	inherent	in	the	portfolio.
established	to	address	this	repurchase	risk	inherent	in	the	portfolio.

RV	AND	MARINE	PORTFOLIO
RV	AND	MARINE	PORTFOLIO

Our	strategy	in	the	RV	and	Marine	portfolio	focuses	on	high	quality	borrowers,	combined	with	appropriate	LTVs,	
Our	strategy	in	the	RV	and	Marine	portfolio	focuses	on	high	quality	borrowers,	combined	with	appropriate	LTVs,	
terms,	and	profitability.		Although	entering	new	markets	can	be	associated	with	increased	risk	levels,	we	believe	our	
terms,	and	profitability.		Although	entering	new	markets	can	be	associated	with	increased	risk	levels,	we	believe	our	
disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.
disciplined	strategy	and	operational	processes	significantly	mitigate	these	risks.

Credit	Quality
Credit	Quality

(This	section	should	be	read	in	conjunction	with	Note	5	“Loans	/	Leases	and	Note	6	“Allowance	for	Credit	Losses”	of	
(This	section	should	be	read	in	conjunction	with	Note	5	“Loans	/	Leases	and	Note	6	“Allowance	for	Credit	Losses”	of	
the	Notes	to	Consolidated	Financial	Statements.)
the	Notes	to	Consolidated	Financial	Statements.)

We	believe	the	most	meaningful	way	to	assess	overall	credit	quality	performance	is	through	an	analysis	of	
We	believe	the	most	meaningful	way	to	assess	overall	credit	quality	performance	is	through	an	analysis	of	
specific	performance	ratios.		This	approach	forms	the	basis	of	the	discussion	in	the	sections	immediately	following:	
specific	performance	ratios.		This	approach	forms	the	basis	of	the	discussion	in	the	sections	immediately	following:	
NPAs,	NALs,	TDRs,	ACL,	and	NCOs.		In	addition,	we	utilize	delinquency	rates,	risk	distribution	and	migration	patterns,	
NPAs,	NALs,	TDRs,	ACL,	and	NCOs.		In	addition,	we	utilize	delinquency	rates,	risk	distribution	and	migration	patterns,	
product	segmentation,	and	origination	trends	in	the	analysis	of	our	credit	quality	performance.
product	segmentation,	and	origination	trends	in	the	analysis	of	our	credit	quality	performance.

Credit	quality	performance	in	2020	was	weaker	than	prior	periods	primarily	due	to	the	deterioration	in	the	
Credit	quality	performance	in	2020	was	weaker	than	prior	periods	primarily	due	to	the	deterioration	in	the	
economic	environment	as	a	result	of	the	COVID-19	pandemic.		Total	NCOs	were	$449	million	or	0.57%	of	average	
economic	environment	as	a	result	of	the	COVID-19	pandemic.		Total	NCOs	were	$449	million	or	0.57%	of	average	
total	loans	and	leases,	an	increase	from	$265	million	or	0.35%	in	the	prior	year.		There	was	a	13%	increase	in	NPAs	
total	loans	and	leases,	an	increase	from	$265	million	or	0.35%	in	the	prior	year.		There	was	a	13%	increase	in	NPAs	
from	the	prior	year.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	
from	the	prior	year.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	
December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	
December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	
deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.
deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.

64					Huntington	Bancshares	Incorporated

64					Huntington	Bancshares	Incorporated

2020	Form	10-K					65
2020	Form	10-K					65

NPAs	and	NALsNPAs	consist	of	(1)	NALs,	which	represent	loans	and	leases	no	longer	accruing	interest,	(2)	OREO	properties,	and	(3)	other	NPAs.		Any	loan	in	our	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	collection	of	principal	or	interest	is	in	doubt.		Also,	when	a	borrower	with	discharged	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	is	identified	and	the	loan	is	determined	to	be	collateral	dependent,	the	loan	is	placed	on	nonaccrual	status.Commercial	loans	are	placed	on	nonaccrual	status	at	90-days	past	due,	or	earlier	if	repayment	of	principal	and	interest	is	in	doubt.		Of	the	$368	million	of	commercial	related	NALs	at	December	31,	2020,	$226	million,	or	61%,	represent	loans	that	were	less	than	30-days	past	due,	demonstrating	our	continued	commitment	to	proactive	credit	risk	management.		With	the	exception	of	residential	mortgage	loans	guaranteed	by	government	organizations	which	continue	to	accrue	interest,	first	lien	loans	secured	by	residential	mortgage	collateral	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.When	loans	are	placed	on	nonaccrual,	accrued	interest	income	is	reversed	with	current	year	accruals	charged	to	interest	income	and	prior	year	amounts	generally	charged-off	as	a	credit	loss.		When,	in	our	judgment,	the	borrower’s	ability	to	make	required	interest	and	principal	payments	has	resumed	and	collectability	is	no	longer	in	doubt,	the	loan	or	lease	could	be	returned	to	accrual	status.The	following	table	reflects	period-end	NALs	and	NPAs	detail	for	each	of	the	last	five	years:Table	9	-	Nonaccrual	Loans	and	Leases	and	Nonperforming	Assets	(1)December	31,(dollar	amounts	in	millions)20202019201820172016Nonaccrual	loans	and	leases	(NALs):Commercial	and	industrial$	353	$	323	$	188	$	161	$	234	Commercial	real	estate	15		10		15		29		20	Automobile	4		4		5		6		6	Home	equity	70		59		62		68		72	Residential	mortgage	88		71		69		84		91	RV	and	marine	2		1		1		1		—	Other	consumer	—		—		—		—		—	Total	nonaccrual	loans	and	leases	532		468		340		349		423	Other	real	estate,	net:Residential	4		9		19		24		31	Commercial	—		2		4		9		20	Total	other	real	estate,	net	4		11		23		33		51	Other	NPAs	(1)	27		19		24		7		7	Total	nonperforming	assets$	563	$	498	$	387	$	389	$	481	Nonaccrual	loans	and	leases	as	a	%	of	total	loans	and	leases	0.65	%	0.62	%	0.45	%	0.50	%	0.63	%NPA	ratio	(2)	0.69		0.66		0.52		0.55		0.72	(1)Other	nonperforming	assets	include	certain	impaired	investment	securities	and/or	nonaccrual	loans	held-for-sale.(2)Nonperforming	assets	divided	by	the	sum	of	loans	and	leases,	other	real	estate	owned,	and	other	NPAs.66					Huntington	Bancshares	Incorporated2020	versus	2019	Total	NPAs	increased	by	$65	million,	or	13%,	compared	with	December	31,	2019.		The	increase	was	due	to	a	$30	million,	or	9%,	increase	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	prior	year.The	following	table	reflects	period-end	accruing	loans	and	leases	90	days	or	more	past	due	for	each	of	the	last	five	years:Table	10	-	Accruing	Past	Due	Loans	and	LeasesDecember	31,(dollar	amounts	in	millions)20202019201820172016Accruing	loans	and	leases	past	due	90	days	or	more:Commercial	and	industrial	(1)$	10	$	11	$	7	$	9	$	18	Commercial	real	estate	—		—		—		3		17	Automobile	9		8		8		7		10	Home	equity	14		14		17		18		12	Residential	mortgage	(excluding	loans	guaranteed	by	the	U.S.	Government)	30		20		32		21		15	RV	and	marine	3		2		1		1		1	Other	consumer	3		7		6		5		4	Total,	excl.	loans	guaranteed	by	the	U.S.	Government	69		62		71		64		77	Add:	loans	guaranteed	by	U.S.	Government	102		109		99		51		52	Total	accruing	loans	and	leases	past	due	90	days	or	more,	including	loans	guaranteed	by	the	U.S.	Government$	171	$	171	$	170	$	115	$	129	Ratios:Excluding	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.08	%	0.08	%	0.09	%	0.09	%	0.12	%Guaranteed	by	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.13		0.14		0.13		0.07		0.08	Including	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.21		0.23		0.23		0.16		0.19	(1)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies	and	accruing	purchase	impaired	loans	related	to	acquisitions.TDR	LoansTDRs	are	modified	loans	where	a	concession	was	provided	to	a	borrower	experiencing	financial	difficulties.		TDRs	can	be	classified	as	either	accruing	or	nonaccruing	loans.		Nonaccruing	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs,	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.		TDRs	primarily	reflect	our	loss	mitigation	efforts	to	proactively	work	with	borrowers	in	financial	difficulty	or	to	comply	with	regulations	regarding	the	treatment	of	certain	bankruptcy	filing	and	discharge	situations.		On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	Form	10-K					67NPAs	and	NALsNPAs	consist	of	(1)	NALs,	which	represent	loans	and	leases	no	longer	accruing	interest,	(2)	OREO	properties,	and	(3)	other	NPAs.		Any	loan	in	our	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	collection	of	principal	or	interest	is	in	doubt.		Also,	when	a	borrower	with	discharged	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	is	identified	and	the	loan	is	determined	to	be	collateral	dependent,	the	loan	is	placed	on	nonaccrual	status.Commercial	loans	are	placed	on	nonaccrual	status	at	90-days	past	due,	or	earlier	if	repayment	of	principal	and	interest	is	in	doubt.		Of	the	$368	million	of	commercial	related	NALs	at	December	31,	2020,	$226	million,	or	61%,	represent	loans	that	were	less	than	30-days	past	due,	demonstrating	our	continued	commitment	to	proactive	credit	risk	management.		With	the	exception	of	residential	mortgage	loans	guaranteed	by	government	organizations	which	continue	to	accrue	interest,	first	lien	loans	secured	by	residential	mortgage	collateral	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.When	loans	are	placed	on	nonaccrual,	accrued	interest	income	is	reversed	with	current	year	accruals	charged	to	interest	income	and	prior	year	amounts	generally	charged-off	as	a	credit	loss.		When,	in	our	judgment,	the	borrower’s	ability	to	make	required	interest	and	principal	payments	has	resumed	and	collectability	is	no	longer	in	doubt,	the	loan	or	lease	could	be	returned	to	accrual	status.The	following	table	reflects	period-end	NALs	and	NPAs	detail	for	each	of	the	last	five	years:Table	9	-	Nonaccrual	Loans	and	Leases	and	Nonperforming	Assets	(1)December	31,(dollar	amounts	in	millions)20202019201820172016Nonaccrual	loans	and	leases	(NALs):Commercial	and	industrial$	353	$	323	$	188	$	161	$	234	Commercial	real	estate	15		10		15		29		20	Automobile	4		4		5		6		6	Home	equity	70		59		62		68		72	Residential	mortgage	88		71		69		84		91	RV	and	marine	2		1		1		1		—	Other	consumer	—		—		—		—		—	Total	nonaccrual	loans	and	leases	532		468		340		349		423	Other	real	estate,	net:Residential	4		9		19		24		31	Commercial	—		2		4		9		20	Total	other	real	estate,	net	4		11		23		33		51	Other	NPAs	(1)	27		19		24		7		7	Total	nonperforming	assets$	563	$	498	$	387	$	389	$	481	Nonaccrual	loans	and	leases	as	a	%	of	total	loans	and	leases	0.65	%	0.62	%	0.45	%	0.50	%	0.63	%NPA	ratio	(2)	0.69		0.66		0.52		0.55		0.72	(1)Other	nonperforming	assets	include	certain	impaired	investment	securities	and/or	nonaccrual	loans	held-for-sale.(2)Nonperforming	assets	divided	by	the	sum	of	loans	and	leases,	other	real	estate	owned,	and	other	NPAs.66					Huntington	Bancshares	Incorporated2020	versus	2019	Total	NPAs	increased	by	$65	million,	or	13%,	compared	with	December	31,	2019.		The	increase	was	due	to	a	$30	million,	or	9%,	increase	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	prior	year.The	following	table	reflects	period-end	accruing	loans	and	leases	90	days	or	more	past	due	for	each	of	the	last	five	years:Table	10	-	Accruing	Past	Due	Loans	and	LeasesDecember	31,(dollar	amounts	in	millions)20202019201820172016Accruing	loans	and	leases	past	due	90	days	or	more:Commercial	and	industrial	(1)$	10	$	11	$	7	$	9	$	18	Commercial	real	estate	—		—		—		3		17	Automobile	9		8		8		7		10	Home	equity	14		14		17		18		12	Residential	mortgage	(excluding	loans	guaranteed	by	the	U.S.	Government)	30		20		32		21		15	RV	and	marine	3		2		1		1		1	Other	consumer	3		7		6		5		4	Total,	excl.	loans	guaranteed	by	the	U.S.	Government	69		62		71		64		77	Add:	loans	guaranteed	by	U.S.	Government	102		109		99		51		52	Total	accruing	loans	and	leases	past	due	90	days	or	more,	including	loans	guaranteed	by	the	U.S.	Government$	171	$	171	$	170	$	115	$	129	Ratios:Excluding	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.08	%	0.08	%	0.09	%	0.09	%	0.12	%Guaranteed	by	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.13		0.14		0.13		0.07		0.08	Including	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.21		0.23		0.23		0.16		0.19	(1)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies	and	accruing	purchase	impaired	loans	related	to	acquisitions.TDR	LoansTDRs	are	modified	loans	where	a	concession	was	provided	to	a	borrower	experiencing	financial	difficulties.		TDRs	can	be	classified	as	either	accruing	or	nonaccruing	loans.		Nonaccruing	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs,	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.		TDRs	primarily	reflect	our	loss	mitigation	efforts	to	proactively	work	with	borrowers	in	financial	difficulty	or	to	comply	with	regulations	regarding	the	treatment	of	certain	bankruptcy	filing	and	discharge	situations.		On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	Form	10-K					67NPAs	and	NALsNPAs	consist	of	(1)	NALs,	which	represent	loans	and	leases	no	longer	accruing	interest,	(2)	OREO	properties,	and	(3)	other	NPAs.		Any	loan	in	our	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	collection	of	principal	or	interest	is	in	doubt.		Also,	when	a	borrower	with	discharged	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	is	identified	and	the	loan	is	determined	to	be	collateral	dependent,	the	loan	is	placed	on	nonaccrual	status.Commercial	loans	are	placed	on	nonaccrual	status	at	90-days	past	due,	or	earlier	if	repayment	of	principal	and	interest	is	in	doubt.		Of	the	$368	million	of	commercial	related	NALs	at	December	31,	2020,	$226	million,	or	61%,	represent	loans	that	were	less	than	30-days	past	due,	demonstrating	our	continued	commitment	to	proactive	credit	risk	management.		With	the	exception	of	residential	mortgage	loans	guaranteed	by	government	organizations	which	continue	to	accrue	interest,	first	lien	loans	secured	by	residential	mortgage	collateral	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.When	loans	are	placed	on	nonaccrual,	accrued	interest	income	is	reversed	with	current	year	accruals	charged	to	interest	income	and	prior	year	amounts	generally	charged-off	as	a	credit	loss.		When,	in	our	judgment,	the	borrower’s	ability	to	make	required	interest	and	principal	payments	has	resumed	and	collectability	is	no	longer	in	doubt,	the	loan	or	lease	could	be	returned	to	accrual	status.The	following	table	reflects	period-end	NALs	and	NPAs	detail	for	each	of	the	last	five	years:Table	9	-	Nonaccrual	Loans	and	Leases	and	Nonperforming	Assets	(1)December	31,(dollar	amounts	in	millions)20202019201820172016Nonaccrual	loans	and	leases	(NALs):Commercial	and	industrial$	353	$	323	$	188	$	161	$	234	Commercial	real	estate	15		10		15		29		20	Automobile	4		4		5		6		6	Home	equity	70		59		62		68		72	Residential	mortgage	88		71		69		84		91	RV	and	marine	2		1		1		1		—	Other	consumer	—		—		—		—		—	Total	nonaccrual	loans	and	leases	532		468		340		349		423	Other	real	estate,	net:Residential	4		9		19		24		31	Commercial	—		2		4		9		20	Total	other	real	estate,	net	4		11		23		33		51	Other	NPAs	(1)	27		19		24		7		7	Total	nonperforming	assets$	563	$	498	$	387	$	389	$	481	Nonaccrual	loans	and	leases	as	a	%	of	total	loans	and	leases	0.65	%	0.62	%	0.45	%	0.50	%	0.63	%NPA	ratio	(2)	0.69		0.66		0.52		0.55		0.72	(1)Other	nonperforming	assets	include	certain	impaired	investment	securities	and/or	nonaccrual	loans	held-for-sale.(2)Nonperforming	assets	divided	by	the	sum	of	loans	and	leases,	other	real	estate	owned,	and	other	NPAs.66					Huntington	Bancshares	Incorporated2020	versus	2019	Total	NPAs	increased	by	$65	million,	or	13%,	compared	with	December	31,	2019.		The	increase	was	due	to	a	$30	million,	or	9%,	increase	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	prior	year.The	following	table	reflects	period-end	accruing	loans	and	leases	90	days	or	more	past	due	for	each	of	the	last	five	years:Table	10	-	Accruing	Past	Due	Loans	and	LeasesDecember	31,(dollar	amounts	in	millions)20202019201820172016Accruing	loans	and	leases	past	due	90	days	or	more:Commercial	and	industrial	(1)$	10	$	11	$	7	$	9	$	18	Commercial	real	estate	—		—		—		3		17	Automobile	9		8		8		7		10	Home	equity	14		14		17		18		12	Residential	mortgage	(excluding	loans	guaranteed	by	the	U.S.	Government)	30		20		32		21		15	RV	and	marine	3		2		1		1		1	Other	consumer	3		7		6		5		4	Total,	excl.	loans	guaranteed	by	the	U.S.	Government	69		62		71		64		77	Add:	loans	guaranteed	by	U.S.	Government	102		109		99		51		52	Total	accruing	loans	and	leases	past	due	90	days	or	more,	including	loans	guaranteed	by	the	U.S.	Government$	171	$	171	$	170	$	115	$	129	Ratios:Excluding	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.08	%	0.08	%	0.09	%	0.09	%	0.12	%Guaranteed	by	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.13		0.14		0.13		0.07		0.08	Including	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.21		0.23		0.23		0.16		0.19	(1)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies	and	accruing	purchase	impaired	loans	related	to	acquisitions.TDR	LoansTDRs	are	modified	loans	where	a	concession	was	provided	to	a	borrower	experiencing	financial	difficulties.		TDRs	can	be	classified	as	either	accruing	or	nonaccruing	loans.		Nonaccruing	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs,	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.		TDRs	primarily	reflect	our	loss	mitigation	efforts	to	proactively	work	with	borrowers	in	financial	difficulty	or	to	comply	with	regulations	regarding	the	treatment	of	certain	bankruptcy	filing	and	discharge	situations.		On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	Form	10-K					67NPAs	and	NALsNPAs	consist	of	(1)	NALs,	which	represent	loans	and	leases	no	longer	accruing	interest,	(2)	OREO	properties,	and	(3)	other	NPAs.		Any	loan	in	our	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	collection	of	principal	or	interest	is	in	doubt.		Also,	when	a	borrower	with	discharged	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	is	identified	and	the	loan	is	determined	to	be	collateral	dependent,	the	loan	is	placed	on	nonaccrual	status.Commercial	loans	are	placed	on	nonaccrual	status	at	90-days	past	due,	or	earlier	if	repayment	of	principal	and	interest	is	in	doubt.		Of	the	$368	million	of	commercial	related	NALs	at	December	31,	2020,	$226	million,	or	61%,	represent	loans	that	were	less	than	30-days	past	due,	demonstrating	our	continued	commitment	to	proactive	credit	risk	management.		With	the	exception	of	residential	mortgage	loans	guaranteed	by	government	organizations	which	continue	to	accrue	interest,	first	lien	loans	secured	by	residential	mortgage	collateral	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.When	loans	are	placed	on	nonaccrual,	accrued	interest	income	is	reversed	with	current	year	accruals	charged	to	interest	income	and	prior	year	amounts	generally	charged-off	as	a	credit	loss.		When,	in	our	judgment,	the	borrower’s	ability	to	make	required	interest	and	principal	payments	has	resumed	and	collectability	is	no	longer	in	doubt,	the	loan	or	lease	could	be	returned	to	accrual	status.The	following	table	reflects	period-end	NALs	and	NPAs	detail	for	each	of	the	last	five	years:Table	9	-	Nonaccrual	Loans	and	Leases	and	Nonperforming	Assets	(1)December	31,(dollar	amounts	in	millions)20202019201820172016Nonaccrual	loans	and	leases	(NALs):Commercial	and	industrial$	353	$	323	$	188	$	161	$	234	Commercial	real	estate	15		10		15		29		20	Automobile	4		4		5		6		6	Home	equity	70		59		62		68		72	Residential	mortgage	88		71		69		84		91	RV	and	marine	2		1		1		1		—	Other	consumer	—		—		—		—		—	Total	nonaccrual	loans	and	leases	532		468		340		349		423	Other	real	estate,	net:Residential	4		9		19		24		31	Commercial	—		2		4		9		20	Total	other	real	estate,	net	4		11		23		33		51	Other	NPAs	(1)	27		19		24		7		7	Total	nonperforming	assets$	563	$	498	$	387	$	389	$	481	Nonaccrual	loans	and	leases	as	a	%	of	total	loans	and	leases	0.65	%	0.62	%	0.45	%	0.50	%	0.63	%NPA	ratio	(2)	0.69		0.66		0.52		0.55		0.72	(1)Other	nonperforming	assets	include	certain	impaired	investment	securities	and/or	nonaccrual	loans	held-for-sale.(2)Nonperforming	assets	divided	by	the	sum	of	loans	and	leases,	other	real	estate	owned,	and	other	NPAs.66					Huntington	Bancshares	Incorporated2020	versus	2019	Total	NPAs	increased	by	$65	million,	or	13%,	compared	with	December	31,	2019.		The	increase	was	due	to	a	$30	million,	or	9%,	increase	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	prior	year.The	following	table	reflects	period-end	accruing	loans	and	leases	90	days	or	more	past	due	for	each	of	the	last	five	years:Table	10	-	Accruing	Past	Due	Loans	and	LeasesDecember	31,(dollar	amounts	in	millions)20202019201820172016Accruing	loans	and	leases	past	due	90	days	or	more:Commercial	and	industrial	(1)$	10	$	11	$	7	$	9	$	18	Commercial	real	estate	—		—		—		3		17	Automobile	9		8		8		7		10	Home	equity	14		14		17		18		12	Residential	mortgage	(excluding	loans	guaranteed	by	the	U.S.	Government)	30		20		32		21		15	RV	and	marine	3		2		1		1		1	Other	consumer	3		7		6		5		4	Total,	excl.	loans	guaranteed	by	the	U.S.	Government	69		62		71		64		77	Add:	loans	guaranteed	by	U.S.	Government	102		109		99		51		52	Total	accruing	loans	and	leases	past	due	90	days	or	more,	including	loans	guaranteed	by	the	U.S.	Government$	171	$	171	$	170	$	115	$	129	Ratios:Excluding	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.08	%	0.08	%	0.09	%	0.09	%	0.12	%Guaranteed	by	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.13		0.14		0.13		0.07		0.08	Including	loans	guaranteed	by	the	U.S.	Government,	as	a	percent	of	total	loans	and	leases	0.21		0.23		0.23		0.16		0.19	(1)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies	and	accruing	purchase	impaired	loans	related	to	acquisitions.TDR	LoansTDRs	are	modified	loans	where	a	concession	was	provided	to	a	borrower	experiencing	financial	difficulties.		TDRs	can	be	classified	as	either	accruing	or	nonaccruing	loans.		Nonaccruing	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs,	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.		TDRs	primarily	reflect	our	loss	mitigation	efforts	to	proactively	work	with	borrowers	in	financial	difficulty	or	to	comply	with	regulations	regarding	the	treatment	of	certain	bankruptcy	filing	and	discharge	situations.		On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	Form	10-K					672020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.Over	the	past	five	years,	the	accruing	component	of	the	total	TDR	balance	has	been	consistently	over	80%,	indicating	there	is	no	identified	credit	loss	and	the	borrowers	continue	to	make	their	monthly	payments.		As	of	December	31,	2020,	over	78%	of	the	$435	million	of	accruing	TDRs	secured	by	residential	real	estate	(Residential	mortgage	and	Home	equity	in	Table	11)	are	current	on	their	required	payments,	with	over	53%	of	the	accruing	pool	having	had	no	delinquency	in	the	past	12	months.		There	is	limited	migration	from	the	accruing	to	non-accruing	components,	and	virtually	all	of	the	charge-offs	within	this	group	of	loans	come	from	the	non-accruing	TDR	balances.The	table	below	presents	our	accruing	and	nonaccruing	TDRs	at	period-end	for	each	of	the	past	five	years:Table	11	-	Accruing	and	Nonaccruing	Troubled	Debt	Restructured	Loans(dollar	amounts	in	millions)December	31,20202019201820172016TDRs—accruing:Commercial	and	industrial$	193	$	213	$	269	$	300	$	210	Commercial	real	estate	33		37		54		78		77	Automobile	50		40		35		30		26	Home	equity	187		226		252		265		270	Residential	mortgage	248		223		218		224		243	RV	and	marine	6		3		2		1		—	Other	consumer	9		11		9		8		4	Total	TDRs—accruing	726		753		839		906		830	TDRs—nonaccruing:Commercial	and	industrial	95		109		97		82		107	Commercial	real	estate	3		6		6		15		5	Automobile	2		2		3		4		5	Home	equity	30		26		28		28		28	Residential	mortgage	51		42		44		55		59	RV	and	marine	1		1		—		—		—	Other	consumer	—		—		—		—		—	Total	TDRs—nonaccruing	182		186		178		184		204	Total	TDRs$	908	$	939	$	1,017	$	1,090	$	1,034	Our	strategy	is	to	structure	TDRs	in	a	manner	that	avoids	new	concessions	subsequent	to	the	initial	TDR	terms.		However,	there	are	times	when	subsequent	modifications	are	required,	such	as	when	a	loan	matures.		Often	loans	are	performing	in	accordance	with	the	TDR	terms,	and	a	new	note	is	originated	with	similar	modified	terms.		These	loans	are	subjected	to	the	normal	underwriting	standards	and	processes	for	similar	credit	extensions,	both	new	and	existing.		If	the	loan	is	not	performing	in	accordance	with	the	existing	TDR	terms,	typically	an	individualized	approach	to	repayment	is	established.		In	accordance	with	GAAP,	the	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		A	new	loan	is	considered	for	the	removal	of	the	TDR	designation.		A	continuation	of	the	prior	note	requires	the	continuation	of	the	TDR	designation.		The	types	of	concessions	granted	include	below	market	interest	rates,	longer	amortization	or	extended	maturity	date	changes	beyond	what	the	collateral	supports,	as	well	as	principal	forgiveness	based	on	the	borrower’s	specific	needs	at	a	point	in	time.		Our	policy	does	not	limit	the	number	of	times	a	loan	may	be	modified.		A	loan	may	be	modified	multiple	times	if	it	is	considered	to	be	in	the	best	interest	of	both	the	borrower	and	us.Commercial	loans	are	not	automatically	considered	to	be	accruing	TDRs	upon	the	granting	of	a	concession.		If	the	loan	is	in	accruing	status	and	no	loss	is	expected	based	on	the	modified	terms,	the	modified	TDR	remains	in	accruing	status.		For	loans	that	are	on	nonaccrual	status	before	the	modification,	reasonable	assurance	of	repayment	under	modified	terms	and	demonstrated	repayment	performance	for	a	minimum	of	six	months	is	needed	to	return	to	accruing	status.		This	six-month	period	could	extend	before	or	after	the	restructure	date.68					Huntington	Bancshares	IncorporatedAny	granted	change	in	terms	or	conditions	that	are	not	readily	available	in	the	market	for	that	borrower,	requires	the	designation	as	a	TDR.		There	are	no	provisions	for	the	removal	of	the	TDR	designation	based	on	payment	activity	for	consumer	loans.		A	loan	may	be	returned	to	accrual	status	when	all	contractually	due	interest	and	principal	has	been	paid	and	the	borrower	demonstrates	the	financial	capacity	to	continue	to	pay	as	agreed,	with	the	risk	of	loss	diminished.ACLOur	total	credit	reserve	is	comprised	of	two	different	components,	both	of	which	in	our	judgment	are	appropriate	to	absorb	lifetime	credit	losses	in	our	loan	and	lease	portfolio:	the	ALLL	and	the	AULC.		Combined,	these	reserves	comprise	the	total	ACL.Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio.		These	models	incorporate	historical	loss	experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	balance	sheet	date.		We	make	various	judgments	combined	with	historical	loss	experience	to	generate	a	loss	rate	that	is	applied	to	the	outstanding	loan	or	receivable	balance	to	produce	a	reserve	for	expected	credit	losses.We	use	a	combination	of	statistically-based	models	that	utilize	assumptions	about	current	and	future	economic	conditions	throughout	the	contractual	life	of	the	loan.		The	process	of	estimating	expected	credit	losses	is	based	on	several	key	parameters:	Probability	of	Default	(PD),	Exposure	at	Default	(EAD),	and	Loss	Given	Default	(LGD).		Beyond	the	reasonable	and	supportable	period	(two	to	three	years),	the	economic	variables	revert	to	a	historical	equilibrium	at	a	pace	dependent	on	the	state	of	the	economy	reflected	within	the	economic	scenario.These	three	parameters,	PD,	EAD,	and	LGD,	are	utilized	to	estimate	the	cumulative	credit	losses	over	the	remaining	expected	life	of	the	loan.		We	also	consider	the	likelihood	a	previously	charged-off	account	will	be	recovered.		This	calculation	is	dependent	on	how	long	ago	the	account	was	charged-off	and	future	economic	conditions,	which	estimate	the	likelihood	and	magnitude	of	recovery.		Our	models	are	developed	using	internal	historical	loss	experience	covering	the	full	economic	cycle	and	consider	the	impact	of	account	characteristics	on	expected	losses.Future	economic	conditions	consider	multiple	macroeconomic	scenarios	provided	to	us	by	an	independent	third	party	and	are	reviewed	through	the	appropriate	committee	governance	channels	discussed	below.		These	macroeconomic	scenarios	contain	certain	geography	based	variables	that	are	influential	to	our	modeling	process,	the	most	significant	being	unemployment	rates	and	GDP.		The	probability	weights	assigned	to	each	scenario	are	generally	expected	to	be	consistent	from	period	to	period.		Any	changes	in	probability	weights	must	be	supported	by	appropriate	documentation	and	approval	of	senior	management.		Additionally,	we	consider	whether	to	adjust	the	modeled	estimates	to	address	possible	limitations	within	the	models	or	factors	not	captured	within	the	macroeconomic	scenarios.		Lifetime	losses	for	most	of	our	loans	and	receivables	are	evaluated	collectively	based	on	similar	risk	characteristics,	risk	ratings,	origination	credit	bureau	scores,	delinquency	status,	and	remaining	months	within	loan	agreements,	among	other	factors.The	macroeconomic	scenarios	evaluated	by	Huntington	during	2020	continued	to	reflect	the	impact	of	the	COVID-19	pandemic.		The	baseline	scenario	used	at	year-end	assumes	that	the	worst	of	the	economic	disruption	from	the	pandemic	has	passed,	with	the	expectation	that	subsequent	waves	of	the	virus	will	not	carry	the	same	level	of	economic	disruption	experienced	to	date.		The	unemployment	variable	is	incorporated	within	our	models	as	both	a	rate	of	change	and	level	variable.		Historically,	changes	in	unemployment	have	taken	gradual	paths	resulting	in	more	measured	impacts.The	baseline	scenario	forecasts	stronger	GDP	growth	throughout	2021	compared	to	the	fourth	quarter	2020	forecast	driven	by	additional	fiscal	stimulus	anticipated	in	2021.2020	Form	10-K					692020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.Over	the	past	five	years,	the	accruing	component	of	the	total	TDR	balance	has	been	consistently	over	80%,	indicating	there	is	no	identified	credit	loss	and	the	borrowers	continue	to	make	their	monthly	payments.		As	of	December	31,	2020,	over	78%	of	the	$435	million	of	accruing	TDRs	secured	by	residential	real	estate	(Residential	mortgage	and	Home	equity	in	Table	11)	are	current	on	their	required	payments,	with	over	53%	of	the	accruing	pool	having	had	no	delinquency	in	the	past	12	months.		There	is	limited	migration	from	the	accruing	to	non-accruing	components,	and	virtually	all	of	the	charge-offs	within	this	group	of	loans	come	from	the	non-accruing	TDR	balances.The	table	below	presents	our	accruing	and	nonaccruing	TDRs	at	period-end	for	each	of	the	past	five	years:Table	11	-	Accruing	and	Nonaccruing	Troubled	Debt	Restructured	Loans(dollar	amounts	in	millions)December	31,20202019201820172016TDRs—accruing:Commercial	and	industrial$	193	$	213	$	269	$	300	$	210	Commercial	real	estate	33		37		54		78		77	Automobile	50		40		35		30		26	Home	equity	187		226		252		265		270	Residential	mortgage	248		223		218		224		243	RV	and	marine	6		3		2		1		—	Other	consumer	9		11		9		8		4	Total	TDRs—accruing	726		753		839		906		830	TDRs—nonaccruing:Commercial	and	industrial	95		109		97		82		107	Commercial	real	estate	3		6		6		15		5	Automobile	2		2		3		4		5	Home	equity	30		26		28		28		28	Residential	mortgage	51		42		44		55		59	RV	and	marine	1		1		—		—		—	Other	consumer	—		—		—		—		—	Total	TDRs—nonaccruing	182		186		178		184		204	Total	TDRs$	908	$	939	$	1,017	$	1,090	$	1,034	Our	strategy	is	to	structure	TDRs	in	a	manner	that	avoids	new	concessions	subsequent	to	the	initial	TDR	terms.		However,	there	are	times	when	subsequent	modifications	are	required,	such	as	when	a	loan	matures.		Often	loans	are	performing	in	accordance	with	the	TDR	terms,	and	a	new	note	is	originated	with	similar	modified	terms.		These	loans	are	subjected	to	the	normal	underwriting	standards	and	processes	for	similar	credit	extensions,	both	new	and	existing.		If	the	loan	is	not	performing	in	accordance	with	the	existing	TDR	terms,	typically	an	individualized	approach	to	repayment	is	established.		In	accordance	with	GAAP,	the	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		A	new	loan	is	considered	for	the	removal	of	the	TDR	designation.		A	continuation	of	the	prior	note	requires	the	continuation	of	the	TDR	designation.		The	types	of	concessions	granted	include	below	market	interest	rates,	longer	amortization	or	extended	maturity	date	changes	beyond	what	the	collateral	supports,	as	well	as	principal	forgiveness	based	on	the	borrower’s	specific	needs	at	a	point	in	time.		Our	policy	does	not	limit	the	number	of	times	a	loan	may	be	modified.		A	loan	may	be	modified	multiple	times	if	it	is	considered	to	be	in	the	best	interest	of	both	the	borrower	and	us.Commercial	loans	are	not	automatically	considered	to	be	accruing	TDRs	upon	the	granting	of	a	concession.		If	the	loan	is	in	accruing	status	and	no	loss	is	expected	based	on	the	modified	terms,	the	modified	TDR	remains	in	accruing	status.		For	loans	that	are	on	nonaccrual	status	before	the	modification,	reasonable	assurance	of	repayment	under	modified	terms	and	demonstrated	repayment	performance	for	a	minimum	of	six	months	is	needed	to	return	to	accruing	status.		This	six-month	period	could	extend	before	or	after	the	restructure	date.68					Huntington	Bancshares	IncorporatedAny	granted	change	in	terms	or	conditions	that	are	not	readily	available	in	the	market	for	that	borrower,	requires	the	designation	as	a	TDR.		There	are	no	provisions	for	the	removal	of	the	TDR	designation	based	on	payment	activity	for	consumer	loans.		A	loan	may	be	returned	to	accrual	status	when	all	contractually	due	interest	and	principal	has	been	paid	and	the	borrower	demonstrates	the	financial	capacity	to	continue	to	pay	as	agreed,	with	the	risk	of	loss	diminished.ACLOur	total	credit	reserve	is	comprised	of	two	different	components,	both	of	which	in	our	judgment	are	appropriate	to	absorb	lifetime	credit	losses	in	our	loan	and	lease	portfolio:	the	ALLL	and	the	AULC.		Combined,	these	reserves	comprise	the	total	ACL.Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio.		These	models	incorporate	historical	loss	experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	balance	sheet	date.		We	make	various	judgments	combined	with	historical	loss	experience	to	generate	a	loss	rate	that	is	applied	to	the	outstanding	loan	or	receivable	balance	to	produce	a	reserve	for	expected	credit	losses.We	use	a	combination	of	statistically-based	models	that	utilize	assumptions	about	current	and	future	economic	conditions	throughout	the	contractual	life	of	the	loan.		The	process	of	estimating	expected	credit	losses	is	based	on	several	key	parameters:	Probability	of	Default	(PD),	Exposure	at	Default	(EAD),	and	Loss	Given	Default	(LGD).		Beyond	the	reasonable	and	supportable	period	(two	to	three	years),	the	economic	variables	revert	to	a	historical	equilibrium	at	a	pace	dependent	on	the	state	of	the	economy	reflected	within	the	economic	scenario.These	three	parameters,	PD,	EAD,	and	LGD,	are	utilized	to	estimate	the	cumulative	credit	losses	over	the	remaining	expected	life	of	the	loan.		We	also	consider	the	likelihood	a	previously	charged-off	account	will	be	recovered.		This	calculation	is	dependent	on	how	long	ago	the	account	was	charged-off	and	future	economic	conditions,	which	estimate	the	likelihood	and	magnitude	of	recovery.		Our	models	are	developed	using	internal	historical	loss	experience	covering	the	full	economic	cycle	and	consider	the	impact	of	account	characteristics	on	expected	losses.Future	economic	conditions	consider	multiple	macroeconomic	scenarios	provided	to	us	by	an	independent	third	party	and	are	reviewed	through	the	appropriate	committee	governance	channels	discussed	below.		These	macroeconomic	scenarios	contain	certain	geography	based	variables	that	are	influential	to	our	modeling	process,	the	most	significant	being	unemployment	rates	and	GDP.		The	probability	weights	assigned	to	each	scenario	are	generally	expected	to	be	consistent	from	period	to	period.		Any	changes	in	probability	weights	must	be	supported	by	appropriate	documentation	and	approval	of	senior	management.		Additionally,	we	consider	whether	to	adjust	the	modeled	estimates	to	address	possible	limitations	within	the	models	or	factors	not	captured	within	the	macroeconomic	scenarios.		Lifetime	losses	for	most	of	our	loans	and	receivables	are	evaluated	collectively	based	on	similar	risk	characteristics,	risk	ratings,	origination	credit	bureau	scores,	delinquency	status,	and	remaining	months	within	loan	agreements,	among	other	factors.The	macroeconomic	scenarios	evaluated	by	Huntington	during	2020	continued	to	reflect	the	impact	of	the	COVID-19	pandemic.		The	baseline	scenario	used	at	year-end	assumes	that	the	worst	of	the	economic	disruption	from	the	pandemic	has	passed,	with	the	expectation	that	subsequent	waves	of	the	virus	will	not	carry	the	same	level	of	economic	disruption	experienced	to	date.		The	unemployment	variable	is	incorporated	within	our	models	as	both	a	rate	of	change	and	level	variable.		Historically,	changes	in	unemployment	have	taken	gradual	paths	resulting	in	more	measured	impacts.The	baseline	scenario	forecasts	stronger	GDP	growth	throughout	2021	compared	to	the	fourth	quarter	2020	forecast	driven	by	additional	fiscal	stimulus	anticipated	in	2021.2020	Form	10-K					692020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.Over	the	past	five	years,	the	accruing	component	of	the	total	TDR	balance	has	been	consistently	over	80%,	indicating	there	is	no	identified	credit	loss	and	the	borrowers	continue	to	make	their	monthly	payments.		As	of	December	31,	2020,	over	78%	of	the	$435	million	of	accruing	TDRs	secured	by	residential	real	estate	(Residential	mortgage	and	Home	equity	in	Table	11)	are	current	on	their	required	payments,	with	over	53%	of	the	accruing	pool	having	had	no	delinquency	in	the	past	12	months.		There	is	limited	migration	from	the	accruing	to	non-accruing	components,	and	virtually	all	of	the	charge-offs	within	this	group	of	loans	come	from	the	non-accruing	TDR	balances.The	table	below	presents	our	accruing	and	nonaccruing	TDRs	at	period-end	for	each	of	the	past	five	years:Table	11	-	Accruing	and	Nonaccruing	Troubled	Debt	Restructured	Loans(dollar	amounts	in	millions)December	31,20202019201820172016TDRs—accruing:Commercial	and	industrial$	193	$	213	$	269	$	300	$	210	Commercial	real	estate	33		37		54		78		77	Automobile	50		40		35		30		26	Home	equity	187		226		252		265		270	Residential	mortgage	248		223		218		224		243	RV	and	marine	6		3		2		1		—	Other	consumer	9		11		9		8		4	Total	TDRs—accruing	726		753		839		906		830	TDRs—nonaccruing:Commercial	and	industrial	95		109		97		82		107	Commercial	real	estate	3		6		6		15		5	Automobile	2		2		3		4		5	Home	equity	30		26		28		28		28	Residential	mortgage	51		42		44		55		59	RV	and	marine	1		1		—		—		—	Other	consumer	—		—		—		—		—	Total	TDRs—nonaccruing	182		186		178		184		204	Total	TDRs$	908	$	939	$	1,017	$	1,090	$	1,034	Our	strategy	is	to	structure	TDRs	in	a	manner	that	avoids	new	concessions	subsequent	to	the	initial	TDR	terms.		However,	there	are	times	when	subsequent	modifications	are	required,	such	as	when	a	loan	matures.		Often	loans	are	performing	in	accordance	with	the	TDR	terms,	and	a	new	note	is	originated	with	similar	modified	terms.		These	loans	are	subjected	to	the	normal	underwriting	standards	and	processes	for	similar	credit	extensions,	both	new	and	existing.		If	the	loan	is	not	performing	in	accordance	with	the	existing	TDR	terms,	typically	an	individualized	approach	to	repayment	is	established.		In	accordance	with	GAAP,	the	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		A	new	loan	is	considered	for	the	removal	of	the	TDR	designation.		A	continuation	of	the	prior	note	requires	the	continuation	of	the	TDR	designation.		The	types	of	concessions	granted	include	below	market	interest	rates,	longer	amortization	or	extended	maturity	date	changes	beyond	what	the	collateral	supports,	as	well	as	principal	forgiveness	based	on	the	borrower’s	specific	needs	at	a	point	in	time.		Our	policy	does	not	limit	the	number	of	times	a	loan	may	be	modified.		A	loan	may	be	modified	multiple	times	if	it	is	considered	to	be	in	the	best	interest	of	both	the	borrower	and	us.Commercial	loans	are	not	automatically	considered	to	be	accruing	TDRs	upon	the	granting	of	a	concession.		If	the	loan	is	in	accruing	status	and	no	loss	is	expected	based	on	the	modified	terms,	the	modified	TDR	remains	in	accruing	status.		For	loans	that	are	on	nonaccrual	status	before	the	modification,	reasonable	assurance	of	repayment	under	modified	terms	and	demonstrated	repayment	performance	for	a	minimum	of	six	months	is	needed	to	return	to	accruing	status.		This	six-month	period	could	extend	before	or	after	the	restructure	date.68					Huntington	Bancshares	IncorporatedAny	granted	change	in	terms	or	conditions	that	are	not	readily	available	in	the	market	for	that	borrower,	requires	the	designation	as	a	TDR.		There	are	no	provisions	for	the	removal	of	the	TDR	designation	based	on	payment	activity	for	consumer	loans.		A	loan	may	be	returned	to	accrual	status	when	all	contractually	due	interest	and	principal	has	been	paid	and	the	borrower	demonstrates	the	financial	capacity	to	continue	to	pay	as	agreed,	with	the	risk	of	loss	diminished.ACLOur	total	credit	reserve	is	comprised	of	two	different	components,	both	of	which	in	our	judgment	are	appropriate	to	absorb	lifetime	credit	losses	in	our	loan	and	lease	portfolio:	the	ALLL	and	the	AULC.		Combined,	these	reserves	comprise	the	total	ACL.Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio.		These	models	incorporate	historical	loss	experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	balance	sheet	date.		We	make	various	judgments	combined	with	historical	loss	experience	to	generate	a	loss	rate	that	is	applied	to	the	outstanding	loan	or	receivable	balance	to	produce	a	reserve	for	expected	credit	losses.We	use	a	combination	of	statistically-based	models	that	utilize	assumptions	about	current	and	future	economic	conditions	throughout	the	contractual	life	of	the	loan.		The	process	of	estimating	expected	credit	losses	is	based	on	several	key	parameters:	Probability	of	Default	(PD),	Exposure	at	Default	(EAD),	and	Loss	Given	Default	(LGD).		Beyond	the	reasonable	and	supportable	period	(two	to	three	years),	the	economic	variables	revert	to	a	historical	equilibrium	at	a	pace	dependent	on	the	state	of	the	economy	reflected	within	the	economic	scenario.These	three	parameters,	PD,	EAD,	and	LGD,	are	utilized	to	estimate	the	cumulative	credit	losses	over	the	remaining	expected	life	of	the	loan.		We	also	consider	the	likelihood	a	previously	charged-off	account	will	be	recovered.		This	calculation	is	dependent	on	how	long	ago	the	account	was	charged-off	and	future	economic	conditions,	which	estimate	the	likelihood	and	magnitude	of	recovery.		Our	models	are	developed	using	internal	historical	loss	experience	covering	the	full	economic	cycle	and	consider	the	impact	of	account	characteristics	on	expected	losses.Future	economic	conditions	consider	multiple	macroeconomic	scenarios	provided	to	us	by	an	independent	third	party	and	are	reviewed	through	the	appropriate	committee	governance	channels	discussed	below.		These	macroeconomic	scenarios	contain	certain	geography	based	variables	that	are	influential	to	our	modeling	process,	the	most	significant	being	unemployment	rates	and	GDP.		The	probability	weights	assigned	to	each	scenario	are	generally	expected	to	be	consistent	from	period	to	period.		Any	changes	in	probability	weights	must	be	supported	by	appropriate	documentation	and	approval	of	senior	management.		Additionally,	we	consider	whether	to	adjust	the	modeled	estimates	to	address	possible	limitations	within	the	models	or	factors	not	captured	within	the	macroeconomic	scenarios.		Lifetime	losses	for	most	of	our	loans	and	receivables	are	evaluated	collectively	based	on	similar	risk	characteristics,	risk	ratings,	origination	credit	bureau	scores,	delinquency	status,	and	remaining	months	within	loan	agreements,	among	other	factors.The	macroeconomic	scenarios	evaluated	by	Huntington	during	2020	continued	to	reflect	the	impact	of	the	COVID-19	pandemic.		The	baseline	scenario	used	at	year-end	assumes	that	the	worst	of	the	economic	disruption	from	the	pandemic	has	passed,	with	the	expectation	that	subsequent	waves	of	the	virus	will	not	carry	the	same	level	of	economic	disruption	experienced	to	date.		The	unemployment	variable	is	incorporated	within	our	models	as	both	a	rate	of	change	and	level	variable.		Historically,	changes	in	unemployment	have	taken	gradual	paths	resulting	in	more	measured	impacts.The	baseline	scenario	forecasts	stronger	GDP	growth	throughout	2021	compared	to	the	fourth	quarter	2020	forecast	driven	by	additional	fiscal	stimulus	anticipated	in	2021.2020	Form	10-K					692020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.Over	the	past	five	years,	the	accruing	component	of	the	total	TDR	balance	has	been	consistently	over	80%,	indicating	there	is	no	identified	credit	loss	and	the	borrowers	continue	to	make	their	monthly	payments.		As	of	December	31,	2020,	over	78%	of	the	$435	million	of	accruing	TDRs	secured	by	residential	real	estate	(Residential	mortgage	and	Home	equity	in	Table	11)	are	current	on	their	required	payments,	with	over	53%	of	the	accruing	pool	having	had	no	delinquency	in	the	past	12	months.		There	is	limited	migration	from	the	accruing	to	non-accruing	components,	and	virtually	all	of	the	charge-offs	within	this	group	of	loans	come	from	the	non-accruing	TDR	balances.The	table	below	presents	our	accruing	and	nonaccruing	TDRs	at	period-end	for	each	of	the	past	five	years:Table	11	-	Accruing	and	Nonaccruing	Troubled	Debt	Restructured	Loans(dollar	amounts	in	millions)December	31,20202019201820172016TDRs—accruing:Commercial	and	industrial$	193	$	213	$	269	$	300	$	210	Commercial	real	estate	33		37		54		78		77	Automobile	50		40		35		30		26	Home	equity	187		226		252		265		270	Residential	mortgage	248		223		218		224		243	RV	and	marine	6		3		2		1		—	Other	consumer	9		11		9		8		4	Total	TDRs—accruing	726		753		839		906		830	TDRs—nonaccruing:Commercial	and	industrial	95		109		97		82		107	Commercial	real	estate	3		6		6		15		5	Automobile	2		2		3		4		5	Home	equity	30		26		28		28		28	Residential	mortgage	51		42		44		55		59	RV	and	marine	1		1		—		—		—	Other	consumer	—		—		—		—		—	Total	TDRs—nonaccruing	182		186		178		184		204	Total	TDRs$	908	$	939	$	1,017	$	1,090	$	1,034	Our	strategy	is	to	structure	TDRs	in	a	manner	that	avoids	new	concessions	subsequent	to	the	initial	TDR	terms.		However,	there	are	times	when	subsequent	modifications	are	required,	such	as	when	a	loan	matures.		Often	loans	are	performing	in	accordance	with	the	TDR	terms,	and	a	new	note	is	originated	with	similar	modified	terms.		These	loans	are	subjected	to	the	normal	underwriting	standards	and	processes	for	similar	credit	extensions,	both	new	and	existing.		If	the	loan	is	not	performing	in	accordance	with	the	existing	TDR	terms,	typically	an	individualized	approach	to	repayment	is	established.		In	accordance	with	GAAP,	the	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		A	new	loan	is	considered	for	the	removal	of	the	TDR	designation.		A	continuation	of	the	prior	note	requires	the	continuation	of	the	TDR	designation.		The	types	of	concessions	granted	include	below	market	interest	rates,	longer	amortization	or	extended	maturity	date	changes	beyond	what	the	collateral	supports,	as	well	as	principal	forgiveness	based	on	the	borrower’s	specific	needs	at	a	point	in	time.		Our	policy	does	not	limit	the	number	of	times	a	loan	may	be	modified.		A	loan	may	be	modified	multiple	times	if	it	is	considered	to	be	in	the	best	interest	of	both	the	borrower	and	us.Commercial	loans	are	not	automatically	considered	to	be	accruing	TDRs	upon	the	granting	of	a	concession.		If	the	loan	is	in	accruing	status	and	no	loss	is	expected	based	on	the	modified	terms,	the	modified	TDR	remains	in	accruing	status.		For	loans	that	are	on	nonaccrual	status	before	the	modification,	reasonable	assurance	of	repayment	under	modified	terms	and	demonstrated	repayment	performance	for	a	minimum	of	six	months	is	needed	to	return	to	accruing	status.		This	six-month	period	could	extend	before	or	after	the	restructure	date.68					Huntington	Bancshares	IncorporatedAny	granted	change	in	terms	or	conditions	that	are	not	readily	available	in	the	market	for	that	borrower,	requires	the	designation	as	a	TDR.		There	are	no	provisions	for	the	removal	of	the	TDR	designation	based	on	payment	activity	for	consumer	loans.		A	loan	may	be	returned	to	accrual	status	when	all	contractually	due	interest	and	principal	has	been	paid	and	the	borrower	demonstrates	the	financial	capacity	to	continue	to	pay	as	agreed,	with	the	risk	of	loss	diminished.ACLOur	total	credit	reserve	is	comprised	of	two	different	components,	both	of	which	in	our	judgment	are	appropriate	to	absorb	lifetime	credit	losses	in	our	loan	and	lease	portfolio:	the	ALLL	and	the	AULC.		Combined,	these	reserves	comprise	the	total	ACL.Effective	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments.		Upon	adoption	of	ASU	2016-13,	Huntington	implemented	new	credit	loss	models	within	our	loan	and	lease	portfolio.		These	models	incorporate	historical	loss	experience,	as	well	as	current	and	future	economic	conditions	over	a	reasonable	and	supportable	period	beyond	the	balance	sheet	date.		We	make	various	judgments	combined	with	historical	loss	experience	to	generate	a	loss	rate	that	is	applied	to	the	outstanding	loan	or	receivable	balance	to	produce	a	reserve	for	expected	credit	losses.We	use	a	combination	of	statistically-based	models	that	utilize	assumptions	about	current	and	future	economic	conditions	throughout	the	contractual	life	of	the	loan.		The	process	of	estimating	expected	credit	losses	is	based	on	several	key	parameters:	Probability	of	Default	(PD),	Exposure	at	Default	(EAD),	and	Loss	Given	Default	(LGD).		Beyond	the	reasonable	and	supportable	period	(two	to	three	years),	the	economic	variables	revert	to	a	historical	equilibrium	at	a	pace	dependent	on	the	state	of	the	economy	reflected	within	the	economic	scenario.These	three	parameters,	PD,	EAD,	and	LGD,	are	utilized	to	estimate	the	cumulative	credit	losses	over	the	remaining	expected	life	of	the	loan.		We	also	consider	the	likelihood	a	previously	charged-off	account	will	be	recovered.		This	calculation	is	dependent	on	how	long	ago	the	account	was	charged-off	and	future	economic	conditions,	which	estimate	the	likelihood	and	magnitude	of	recovery.		Our	models	are	developed	using	internal	historical	loss	experience	covering	the	full	economic	cycle	and	consider	the	impact	of	account	characteristics	on	expected	losses.Future	economic	conditions	consider	multiple	macroeconomic	scenarios	provided	to	us	by	an	independent	third	party	and	are	reviewed	through	the	appropriate	committee	governance	channels	discussed	below.		These	macroeconomic	scenarios	contain	certain	geography	based	variables	that	are	influential	to	our	modeling	process,	the	most	significant	being	unemployment	rates	and	GDP.		The	probability	weights	assigned	to	each	scenario	are	generally	expected	to	be	consistent	from	period	to	period.		Any	changes	in	probability	weights	must	be	supported	by	appropriate	documentation	and	approval	of	senior	management.		Additionally,	we	consider	whether	to	adjust	the	modeled	estimates	to	address	possible	limitations	within	the	models	or	factors	not	captured	within	the	macroeconomic	scenarios.		Lifetime	losses	for	most	of	our	loans	and	receivables	are	evaluated	collectively	based	on	similar	risk	characteristics,	risk	ratings,	origination	credit	bureau	scores,	delinquency	status,	and	remaining	months	within	loan	agreements,	among	other	factors.The	macroeconomic	scenarios	evaluated	by	Huntington	during	2020	continued	to	reflect	the	impact	of	the	COVID-19	pandemic.		The	baseline	scenario	used	at	year-end	assumes	that	the	worst	of	the	economic	disruption	from	the	pandemic	has	passed,	with	the	expectation	that	subsequent	waves	of	the	virus	will	not	carry	the	same	level	of	economic	disruption	experienced	to	date.		The	unemployment	variable	is	incorporated	within	our	models	as	both	a	rate	of	change	and	level	variable.		Historically,	changes	in	unemployment	have	taken	gradual	paths	resulting	in	more	measured	impacts.The	baseline	scenario	forecasts	stronger	GDP	growth	throughout	2021	compared	to	the	fourth	quarter	2020	forecast	driven	by	additional	fiscal	stimulus	anticipated	in	2021.2020	Form	10-K					69The	table	below	is	intended	to	show	how	the	forecasted	path	of	these	key	macroeconomic	variables	has	changed	since	CECL	implementation:Table	12	-	Forecasted	Key	Macroeconomic	Variables201920202021Baseline	scenario	forecastQ4Q2Q4Q2Q4Unemployment	rate	(1)4Q	2019	(2)3.5%3.5%3.8%4.3%4.5%4Q	20207.2%7.5%7.2%Gross	Domestic	Product	(1)4Q	2019	(2)1.9%2.0%0.8%2.9%3.6%4Q	20203.0%3.8%5.8%(1)Values	reflect	the	baseline	scenario	forecast	inputs	for	each	period	presented,	not	updated	for	subsequent	actual	amounts.(2)Base	case	estimates	for	stated	period	in	Q4	2019	used	to	model	January	1st	2020	implementation	adjustment.The	uncertainty	related	to	the	COVID-19	pandemic	prompted	management	to	continue	to	assess	the	macroeconomic	environment	through	the	end	of	the	year.		Management	considered	multiple	macro-economic	forecasts	that	reflected	a	range	of	possible	outcomes	in	order	to	capture	the	continued	severity	of	and	the	economic	disruption	associated	with	the	pandemic.		While	we	have	incorporated	our	estimated	impact	of	COVID-19	into	our	allowance	for	credit	losses,	the	ultimate	impact	of	COVID-19	is	still	uncertain,	including	the	success	of	the	vaccination	programs	underway,	the	resulting	rate	of	virus	abatement,	how	long	economic	activities	will	be	impacted	and	what	effect	the	unprecedented	levels	of	government	fiscal	and	monetary	actions	will	have	on	the	economy	and	our	credit	losses.Given	significant	COVID-19	specific	government	relief	programs	and	potential	stimulus	packages,	as	well	as	certain	limitations	of	our	models	in	the	current	economic	environment	particularly	the	level	of	unemployment,	management	developed	additional	analytics	to	support	adjustments	to	our	modeled	results.		The	Bank’s	governance	committees	reviewed	model	results	of	each	economic	scenario	for	appropriate	usage,	concluding	that	the	quantitative	transactional	reserve	(collectively	assessed)	will	continue	to	utilize	the	scenario	weighting	approach	established	in	prior	quarters.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		Our	ACL	methodology	committee	is	responsible	for	developing	the	methodology,	assumptions	and	estimates	used	in	the	calculation,	as	well	as	determining	the	appropriateness	of	the	ACL.		The	ALLL	represents	the	estimate	of	lifetime	expected	losses	in	the	loan	and	lease	portfolio	at	the	reported	date.		The	loss	modeling	process	uses	an	EAD	concept	to	calculate	total	expected	losses	on	both	funded	balances	and	unfunded	commitments,	where	appropriate.		Losses	related	to	the	unfunded	commitments	are	then	recorded	as	AULC	within	other	liabilities	in	the	Consolidated	Balance	Sheet.		A	liability	for	expected	credit	losses	for	off-balance	sheet	credit	exposures	is	recognized	if	Huntington	has	a	present	contractual	obligation	to	extend	the	credit	and	the	obligation	is	not	unconditionally	cancelable.Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	January	1,	2020	was	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.		The	increase	in	the	commercial	portfolio	was	largely	attributable	to	adjustments	to	cover	heightened	risks	of	future	deterioration	in	the	oil	and	gas	and	leveraged	lending	portfolios.		The	increase	in	the	consumer	portfolio	was	largely	attributable	to	the	longer	asset	duration	associated	with	many	of	these	products.The	AULC	is	determined	by	applying	the	same	quantitative	reserve	determination	process	to	the	unfunded	portion	of	the	loan	exposures	adjusted	by	an	applicable	funding	expectation.		(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements).70					Huntington	Bancshares	IncorporatedN/AN/AN/AN/AThe	table	below	is	intended	to	show	how	the	forecasted	path	of	these	key	macroeconomic	variables	has	changed	since	CECL	implementation:Table	12	-	Forecasted	Key	Macroeconomic	Variables201920202021Baseline	scenario	forecastQ4Q2Q4Q2Q4Unemployment	rate	(1)4Q	2019	(2)3.5%3.5%3.8%4.3%4.5%4Q	2020n/an/a7.2%7.5%7.2%Gross	Domestic	Product	(1)4Q	2019	(2)1.9%2.0%0.8%2.9%3.6%4Q	2020n/an/a3.0%3.8%5.8%(1)Values	reflect	the	baseline	scenario	forecast	inputs	for	each	period	presented,	not	updated	for	subsequent	actual	amounts.(2)Base	case	estimates	for	stated	period	in	Q4	2019	used	to	model	January	1st	2020	implementation	adjustment.The	uncertainty	related	to	the	COVID-19	pandemic	prompted	management	to	continue	to	assess	the	macroeconomic	environment	through	the	end	of	the	year.		Management	considered	multiple	macro-economic	forecasts	that	reflected	a	range	of	possible	outcomes	in	order	to	capture	the	continued	severity	of	and	the	economic	disruption	associated	with	the	pandemic.		While	we	have	incorporated	our	estimated	impact	of	COVID-19	into	our	allowance	for	credit	losses,	the	ultimate	impact	of	COVID-19	is	still	uncertain,	including	the	success	of	the	vaccination	programs	underway,	the	resulting	rate	of	virus	abatement,	how	long	economic	activities	will	be	impacted	and	what	effect	the	unprecedented	levels	of	government	fiscal	and	monetary	actions	will	have	on	the	economy	and	our	credit	losses.Given	significant	COVID-19	specific	government	relief	programs	and	potential	stimulus	packages,	as	well	as	certain	limitations	of	our	models	in	the	current	economic	environment	particularly	the	level	of	unemployment,	management	developed	additional	analytics	to	support	adjustments	to	our	modeled	results.		The	Bank’s	governance	committees	reviewed	model	results	of	each	economic	scenario	for	appropriate	usage,	concluding	that	the	quantitative	transactional	reserve	(collectively	assessed)	will	continue	to	utilize	the	scenario	weighting	approach	established	in	prior	quarters.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		Our	ACL	methodology	committee	is	responsible	for	developing	the	methodology,	assumptions	and	estimates	used	in	the	calculation,	as	well	as	determining	the	appropriateness	of	the	ACL.		The	ALLL	represents	the	estimate	of	lifetime	expected	losses	in	the	loan	and	lease	portfolio	at	the	reported	date.		The	loss	modeling	process	uses	an	EAD	concept	to	calculate	total	expected	losses	on	both	funded	balances	and	unfunded	commitments,	where	appropriate.		Losses	related	to	the	unfunded	commitments	are	then	recorded	as	AULC	within	other	liabilities	in	the	Consolidated	Balance	Sheet.		A	liability	for	expected	credit	losses	for	off-balance	sheet	credit	exposures	is	recognized	if	Huntington	has	a	present	contractual	obligation	to	extend	the	credit	and	the	obligation	is	not	unconditionally	cancelable.Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	January	1,	2020	was	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.		The	increase	in	the	commercial	portfolio	was	largely	attributable	to	adjustments	to	cover	heightened	risks	of	future	deterioration	in	the	oil	and	gas	and	leveraged	lending	portfolios.		The	increase	in	the	consumer	portfolio	was	largely	attributable	to	the	longer	asset	duration	associated	with	many	of	these	products.The	AULC	is	determined	by	applying	the	same	quantitative	reserve	determination	process	to	the	unfunded	portion	of	the	loan	exposures	adjusted	by	an	applicable	funding	expectation.		(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements).70					Huntington	Bancshares	IncorporatedOur	ACL	evaluation	process	includes	the	on-going	assessment	of	credit	quality	metrics,	and	a	comparison	of	certain	ACL	benchmarks	to	current	performance.		While	the	total	ACL	balance	increased	year	over	year,	all	of	the	relevant	benchmarks	remain	strong,	while	reflecting	the	level	of	uncertainty	around	the	future	macroeconomic	environment	resulting	from	the	COVID-19	pandemic.2020	Form	10-K					71The	table	below	is	intended	to	show	how	the	forecasted	path	of	these	key	macroeconomic	variables	has	changed	since	CECL	implementation:Table	12	-	Forecasted	Key	Macroeconomic	Variables201920202021Baseline	scenario	forecastQ4Q2Q4Q2Q4Unemployment	rate	(1)4Q	2019	(2)3.5%3.5%3.8%4.3%4.5%4Q	20207.2%7.5%7.2%Gross	Domestic	Product	(1)4Q	2019	(2)1.9%2.0%0.8%2.9%3.6%4Q	20203.0%3.8%5.8%(1)Values	reflect	the	baseline	scenario	forecast	inputs	for	each	period	presented,	not	updated	for	subsequent	actual	amounts.(2)Base	case	estimates	for	stated	period	in	Q4	2019	used	to	model	January	1st	2020	implementation	adjustment.The	uncertainty	related	to	the	COVID-19	pandemic	prompted	management	to	continue	to	assess	the	macroeconomic	environment	through	the	end	of	the	year.		Management	considered	multiple	macro-economic	forecasts	that	reflected	a	range	of	possible	outcomes	in	order	to	capture	the	continued	severity	of	and	the	economic	disruption	associated	with	the	pandemic.		While	we	have	incorporated	our	estimated	impact	of	COVID-19	into	our	allowance	for	credit	losses,	the	ultimate	impact	of	COVID-19	is	still	uncertain,	including	the	success	of	the	vaccination	programs	underway,	the	resulting	rate	of	virus	abatement,	how	long	economic	activities	will	be	impacted	and	what	effect	the	unprecedented	levels	of	government	fiscal	and	monetary	actions	will	have	on	the	economy	and	our	credit	losses.Given	significant	COVID-19	specific	government	relief	programs	and	potential	stimulus	packages,	as	well	as	certain	limitations	of	our	models	in	the	current	economic	environment	particularly	the	level	of	unemployment,	management	developed	additional	analytics	to	support	adjustments	to	our	modeled	results.		The	Bank’s	governance	committees	reviewed	model	results	of	each	economic	scenario	for	appropriate	usage,	concluding	that	the	quantitative	transactional	reserve	(collectively	assessed)	will	continue	to	utilize	the	scenario	weighting	approach	established	in	prior	quarters.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		Our	ACL	methodology	committee	is	responsible	for	developing	the	methodology,	assumptions	and	estimates	used	in	the	calculation,	as	well	as	determining	the	appropriateness	of	the	ACL.		The	ALLL	represents	the	estimate	of	lifetime	expected	losses	in	the	loan	and	lease	portfolio	at	the	reported	date.		The	loss	modeling	process	uses	an	EAD	concept	to	calculate	total	expected	losses	on	both	funded	balances	and	unfunded	commitments,	where	appropriate.		Losses	related	to	the	unfunded	commitments	are	then	recorded	as	AULC	within	other	liabilities	in	the	Consolidated	Balance	Sheet.		A	liability	for	expected	credit	losses	for	off-balance	sheet	credit	exposures	is	recognized	if	Huntington	has	a	present	contractual	obligation	to	extend	the	credit	and	the	obligation	is	not	unconditionally	cancelable.Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	January	1,	2020	was	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.		The	increase	in	the	commercial	portfolio	was	largely	attributable	to	adjustments	to	cover	heightened	risks	of	future	deterioration	in	the	oil	and	gas	and	leveraged	lending	portfolios.		The	increase	in	the	consumer	portfolio	was	largely	attributable	to	the	longer	asset	duration	associated	with	many	of	these	products.The	AULC	is	determined	by	applying	the	same	quantitative	reserve	determination	process	to	the	unfunded	portion	of	the	loan	exposures	adjusted	by	an	applicable	funding	expectation.		(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements).70					Huntington	Bancshares	IncorporatedN/AN/AN/AN/AThe	table	below	is	intended	to	show	how	the	forecasted	path	of	these	key	macroeconomic	variables	has	changed	since	CECL	implementation:Table	12	-	Forecasted	Key	Macroeconomic	Variables201920202021Baseline	scenario	forecastQ4Q2Q4Q2Q4Unemployment	rate	(1)4Q	2019	(2)3.5%3.5%3.8%4.3%4.5%4Q	2020n/an/a7.2%7.5%7.2%Gross	Domestic	Product	(1)4Q	2019	(2)1.9%2.0%0.8%2.9%3.6%4Q	2020n/an/a3.0%3.8%5.8%(1)Values	reflect	the	baseline	scenario	forecast	inputs	for	each	period	presented,	not	updated	for	subsequent	actual	amounts.(2)Base	case	estimates	for	stated	period	in	Q4	2019	used	to	model	January	1st	2020	implementation	adjustment.The	uncertainty	related	to	the	COVID-19	pandemic	prompted	management	to	continue	to	assess	the	macroeconomic	environment	through	the	end	of	the	year.		Management	considered	multiple	macro-economic	forecasts	that	reflected	a	range	of	possible	outcomes	in	order	to	capture	the	continued	severity	of	and	the	economic	disruption	associated	with	the	pandemic.		While	we	have	incorporated	our	estimated	impact	of	COVID-19	into	our	allowance	for	credit	losses,	the	ultimate	impact	of	COVID-19	is	still	uncertain,	including	the	success	of	the	vaccination	programs	underway,	the	resulting	rate	of	virus	abatement,	how	long	economic	activities	will	be	impacted	and	what	effect	the	unprecedented	levels	of	government	fiscal	and	monetary	actions	will	have	on	the	economy	and	our	credit	losses.Given	significant	COVID-19	specific	government	relief	programs	and	potential	stimulus	packages,	as	well	as	certain	limitations	of	our	models	in	the	current	economic	environment	particularly	the	level	of	unemployment,	management	developed	additional	analytics	to	support	adjustments	to	our	modeled	results.		The	Bank’s	governance	committees	reviewed	model	results	of	each	economic	scenario	for	appropriate	usage,	concluding	that	the	quantitative	transactional	reserve	(collectively	assessed)	will	continue	to	utilize	the	scenario	weighting	approach	established	in	prior	quarters.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		Our	ACL	methodology	committee	is	responsible	for	developing	the	methodology,	assumptions	and	estimates	used	in	the	calculation,	as	well	as	determining	the	appropriateness	of	the	ACL.		The	ALLL	represents	the	estimate	of	lifetime	expected	losses	in	the	loan	and	lease	portfolio	at	the	reported	date.		The	loss	modeling	process	uses	an	EAD	concept	to	calculate	total	expected	losses	on	both	funded	balances	and	unfunded	commitments,	where	appropriate.		Losses	related	to	the	unfunded	commitments	are	then	recorded	as	AULC	within	other	liabilities	in	the	Consolidated	Balance	Sheet.		A	liability	for	expected	credit	losses	for	off-balance	sheet	credit	exposures	is	recognized	if	Huntington	has	a	present	contractual	obligation	to	extend	the	credit	and	the	obligation	is	not	unconditionally	cancelable.Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	January	1,	2020	was	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.		The	increase	in	the	commercial	portfolio	was	largely	attributable	to	adjustments	to	cover	heightened	risks	of	future	deterioration	in	the	oil	and	gas	and	leveraged	lending	portfolios.		The	increase	in	the	consumer	portfolio	was	largely	attributable	to	the	longer	asset	duration	associated	with	many	of	these	products.The	AULC	is	determined	by	applying	the	same	quantitative	reserve	determination	process	to	the	unfunded	portion	of	the	loan	exposures	adjusted	by	an	applicable	funding	expectation.		(See	Note	1	-	"Significant	Accounting	Policies"	of	the	Notes	to	Consolidated	Financial	Statements).70					Huntington	Bancshares	IncorporatedOur	ACL	evaluation	process	includes	the	on-going	assessment	of	credit	quality	metrics,	and	a	comparison	of	certain	ACL	benchmarks	to	current	performance.		While	the	total	ACL	balance	increased	year	over	year,	all	of	the	relevant	benchmarks	remain	strong,	while	reflecting	the	level	of	uncertainty	around	the	future	macroeconomic	environment	resulting	from	the	COVID-19	pandemic.2020	Form	10-K					71The	following	table	reflects	activity	in	the	ALLL	and	AULC	for	each	of	the	last	five	years:Table	13	-	Summary	of	Allowance	for	Credit	Losses(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016ALLL,	beginning	of	year$	783	$	772	$	691	$	638	$	598	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	391		—		—		—		—	Loan	and	lease	charge-offsCommercial:Commercial	and	industrial	(328)		(160)		(68)		(68)		(77)	Commercial	real	estate:Construction	(1)		—		(1)		2		(2)	Commercial	(46)		(5)		(10)		(6)		(14)	Commercial	real	estate	(47)		(5)		(11)		(4)		(16)	Total	commercial	(375)		(165)		(79)		(72)		(93)	Consumer:Automobile	(60)		(57)		(58)		(64)		(50)	Home	equity	(16)		(21)		(21)		(20)		(26)	Residential	mortgage	(7)		(9)		(11)		(11)		(11)	RV	and	marine	(18)		(15)		(14)		(13)		(3)	Other	consumer	(64)		(95)		(85)		(72)		(44)	Total	consumer	(165)		(197)		(189)		(180)		(134)	Total	charge-offs	(540)		(362)		(268)		(252)		(227)	Recoveries	of	loan	and	lease	charge-offsCommercial:Commercial	and	industrial	29		32		36		26		32	Commercial	real	estate:Construction	1		2		2		3		4	Commercial	3		6		27		12		38	Total	commercial	real	estate	4		8		29		15		42	Total	commercial	33		40		65		41		74	Consumer:Automobile	27		25		24		22		18	Home	equity	10		13		15		15		17	Residential	mortgage	4		3		5		5		5	RV	and	marine	6		4		5		3		—	Other	consumer	11		12		9		7		4	Total	consumer	58		57		58		52		44	Total	recoveries	91		97		123		93		118	Net	loan	and	lease	charge-offs	(449)		(265)		(145)		(159)		(109)	Provision	for	loan	and	lease	losses	1,089		277		226		212		169	Allowance	for	assets	sold	and	securitized	or	transferred	to	loans	held	for	sale	—		(1)		—		—		(20)	ALLL,	end	of	year	1,814		783		772		691		638	AULC,	beginning	of	year	104		96		87		98		72	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	2		—		—		—		—	Provision	for	(Reduction	in)	unfunded	loan	commitments	and	letters	of	credit	losses	(41)		10		9		(11)		22	Fair	value	of	acquired	AULC	—		—		—		—		4	Unfunded	commitment	losses	(13)		(2)		—		—		—	AULC,	end	of	year	52		104		96		87		98	ACL,	end	of	year$	1,866	$	887	$	868	$	778	$	736	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.72					Huntington	Bancshares	IncorporatedThe	table	below	reflects	the	allocation	of	our	ALLL	among	our	various	loan	categories	and	the	reported	ACL	during	each	of	the	past	five	years:	Table	14	-	Allocation	of	Allowance	for	Credit	Losses	(1)(dollar	amounts	in	millions)December	31,20202019201820172016ACLCommercialCommercial	and	industrial$	939		43	%$	469		41	%$	422		41	%$	377		40	%$	356		42	%Commercial	real	estate	297		9		83		8		120		10		105		11		95		11	Total	commercial	1,236		52		552		49		542		51		482		51		451		53	ConsumerAutomobile	166		16		57		17		56		16		53		17		48		16	Home	equity	124		11		50		12		55		13		60		14		65		15	Residential	mortgage	79		15		23		15		25		14		21		13		33		12	RV	and	marine	129		5		21		5		20		4		15		3		5		3	Other	consumer	80		1		80		2		74		2		60		2		36		1	Total	consumer	578		48		231		51		230		49		209		49		187		47	Total	ALLL	1,814		100	%	783		100	%	772		100	%	691		100	%	638		100	%AULC	52		104		96		87		98	Total	ACL$	1,866	$	887	$	868	$	778	$	736	Total	ALLL	as	%	of:Total	loans	and	leases	2.22	%	1.04	%	1.03	%	0.99	%	0.95	%Nonaccrual	loans	and	leases	341		167		228		198		151	NPAs	323		157		200		178		133	Total	ACL	as	%	of:Total	loans	and	leases	2.29	%	1.18	%	1.16	%	1.11	%	1.10	%Nonaccrual	loans	and	leases	351		190		256		223		174	NPAs	332		178		225		200		153	(1)Percentages	represent	the	percentage	of	each	loan	and	lease	category	to	total	loans	and	leases.2020	versus	2019	At	December	31,	2020,	the	ALLL	was	$1.8	billion	or	2.22%	of	total	loans	and	leases,	compared	to	$783	million	or	1.04%	at	December	31,	2019.		Of	the	increase,	$640	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic,	with	the	remaining	$391	million	related	to	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	was	related	to	the	commercial	portfolio.		The	ALLL	to	total	loans	and	leases	ratio	increased	118	basis	points	to	2.22%As	referenced	above,	the	implementation	of	CECL	resulted	in	a	January	1	adoption	impact	of	$391	million.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.NCOsA	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	where	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs	at	the	time	of	discharge.Commercial	loans	are	either	charged-off	or	written	down	to	net	realizable	value	by	90-days	past	due	with	the	exception	of	administrative	small	ticket	lease	delinquencies.		Automobile	loans,	RV	and	marine,	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.		First-lien	and	junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due.		The	remaining	balance	is	in	delinquent	status	until	a	modification	can	be	completed,	or	the	loan	goes	through	the	foreclosure	process.	2020	Form	10-K					73The	following	table	reflects	activity	in	the	ALLL	and	AULC	for	each	of	the	last	five	years:Table	13	-	Summary	of	Allowance	for	Credit	Losses(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016ALLL,	beginning	of	year$	783	$	772	$	691	$	638	$	598	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	391		—		—		—		—	Loan	and	lease	charge-offsCommercial:Commercial	and	industrial	(328)		(160)		(68)		(68)		(77)	Commercial	real	estate:Construction	(1)		—		(1)		2		(2)	Commercial	(46)		(5)		(10)		(6)		(14)	Commercial	real	estate	(47)		(5)		(11)		(4)		(16)	Total	commercial	(375)		(165)		(79)		(72)		(93)	Consumer:Automobile	(60)		(57)		(58)		(64)		(50)	Home	equity	(16)		(21)		(21)		(20)		(26)	Residential	mortgage	(7)		(9)		(11)		(11)		(11)	RV	and	marine	(18)		(15)		(14)		(13)		(3)	Other	consumer	(64)		(95)		(85)		(72)		(44)	Total	consumer	(165)		(197)		(189)		(180)		(134)	Total	charge-offs	(540)		(362)		(268)		(252)		(227)	Recoveries	of	loan	and	lease	charge-offsCommercial:Commercial	and	industrial	29		32		36		26		32	Commercial	real	estate:Construction	1		2		2		3		4	Commercial	3		6		27		12		38	Total	commercial	real	estate	4		8		29		15		42	Total	commercial	33		40		65		41		74	Consumer:Automobile	27		25		24		22		18	Home	equity	10		13		15		15		17	Residential	mortgage	4		3		5		5		5	RV	and	marine	6		4		5		3		—	Other	consumer	11		12		9		7		4	Total	consumer	58		57		58		52		44	Total	recoveries	91		97		123		93		118	Net	loan	and	lease	charge-offs	(449)		(265)		(145)		(159)		(109)	Provision	for	loan	and	lease	losses	1,089		277		226		212		169	Allowance	for	assets	sold	and	securitized	or	transferred	to	loans	held	for	sale	—		(1)		—		—		(20)	ALLL,	end	of	year	1,814		783		772		691		638	AULC,	beginning	of	year	104		96		87		98		72	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	2		—		—		—		—	Provision	for	(Reduction	in)	unfunded	loan	commitments	and	letters	of	credit	losses	(41)		10		9		(11)		22	Fair	value	of	acquired	AULC	—		—		—		—		4	Unfunded	commitment	losses	(13)		(2)		—		—		—	AULC,	end	of	year	52		104		96		87		98	ACL,	end	of	year$	1,866	$	887	$	868	$	778	$	736	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.72					Huntington	Bancshares	IncorporatedThe	table	below	reflects	the	allocation	of	our	ALLL	among	our	various	loan	categories	and	the	reported	ACL	during	each	of	the	past	five	years:	Table	14	-	Allocation	of	Allowance	for	Credit	Losses	(1)(dollar	amounts	in	millions)December	31,20202019201820172016ACLCommercialCommercial	and	industrial$	939		43	%$	469		41	%$	422		41	%$	377		40	%$	356		42	%Commercial	real	estate	297		9		83		8		120		10		105		11		95		11	Total	commercial	1,236		52		552		49		542		51		482		51		451		53	ConsumerAutomobile	166		16		57		17		56		16		53		17		48		16	Home	equity	124		11		50		12		55		13		60		14		65		15	Residential	mortgage	79		15		23		15		25		14		21		13		33		12	RV	and	marine	129		5		21		5		20		4		15		3		5		3	Other	consumer	80		1		80		2		74		2		60		2		36		1	Total	consumer	578		48		231		51		230		49		209		49		187		47	Total	ALLL	1,814		100	%	783		100	%	772		100	%	691		100	%	638		100	%AULC	52		104		96		87		98	Total	ACL$	1,866	$	887	$	868	$	778	$	736	Total	ALLL	as	%	of:Total	loans	and	leases	2.22	%	1.04	%	1.03	%	0.99	%	0.95	%Nonaccrual	loans	and	leases	341		167		228		198		151	NPAs	323		157		200		178		133	Total	ACL	as	%	of:Total	loans	and	leases	2.29	%	1.18	%	1.16	%	1.11	%	1.10	%Nonaccrual	loans	and	leases	351		190		256		223		174	NPAs	332		178		225		200		153	(1)Percentages	represent	the	percentage	of	each	loan	and	lease	category	to	total	loans	and	leases.2020	versus	2019	At	December	31,	2020,	the	ALLL	was	$1.8	billion	or	2.22%	of	total	loans	and	leases,	compared	to	$783	million	or	1.04%	at	December	31,	2019.		Of	the	increase,	$640	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic,	with	the	remaining	$391	million	related	to	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	was	related	to	the	commercial	portfolio.		The	ALLL	to	total	loans	and	leases	ratio	increased	118	basis	points	to	2.22%As	referenced	above,	the	implementation	of	CECL	resulted	in	a	January	1	adoption	impact	of	$391	million.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.NCOsA	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	where	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs	at	the	time	of	discharge.Commercial	loans	are	either	charged-off	or	written	down	to	net	realizable	value	by	90-days	past	due	with	the	exception	of	administrative	small	ticket	lease	delinquencies.		Automobile	loans,	RV	and	marine,	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.		First-lien	and	junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due.		The	remaining	balance	is	in	delinquent	status	until	a	modification	can	be	completed,	or	the	loan	goes	through	the	foreclosure	process.	2020	Form	10-K					73The	following	table	reflects	activity	in	the	ALLL	and	AULC	for	each	of	the	last	five	years:Table	13	-	Summary	of	Allowance	for	Credit	Losses(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016ALLL,	beginning	of	year$	783	$	772	$	691	$	638	$	598	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	391		—		—		—		—	Loan	and	lease	charge-offsCommercial:Commercial	and	industrial	(328)		(160)		(68)		(68)		(77)	Commercial	real	estate:Construction	(1)		—		(1)		2		(2)	Commercial	(46)		(5)		(10)		(6)		(14)	Commercial	real	estate	(47)		(5)		(11)		(4)		(16)	Total	commercial	(375)		(165)		(79)		(72)		(93)	Consumer:Automobile	(60)		(57)		(58)		(64)		(50)	Home	equity	(16)		(21)		(21)		(20)		(26)	Residential	mortgage	(7)		(9)		(11)		(11)		(11)	RV	and	marine	(18)		(15)		(14)		(13)		(3)	Other	consumer	(64)		(95)		(85)		(72)		(44)	Total	consumer	(165)		(197)		(189)		(180)		(134)	Total	charge-offs	(540)		(362)		(268)		(252)		(227)	Recoveries	of	loan	and	lease	charge-offsCommercial:Commercial	and	industrial	29		32		36		26		32	Commercial	real	estate:Construction	1		2		2		3		4	Commercial	3		6		27		12		38	Total	commercial	real	estate	4		8		29		15		42	Total	commercial	33		40		65		41		74	Consumer:Automobile	27		25		24		22		18	Home	equity	10		13		15		15		17	Residential	mortgage	4		3		5		5		5	RV	and	marine	6		4		5		3		—	Other	consumer	11		12		9		7		4	Total	consumer	58		57		58		52		44	Total	recoveries	91		97		123		93		118	Net	loan	and	lease	charge-offs	(449)		(265)		(145)		(159)		(109)	Provision	for	loan	and	lease	losses	1,089		277		226		212		169	Allowance	for	assets	sold	and	securitized	or	transferred	to	loans	held	for	sale	—		(1)		—		—		(20)	ALLL,	end	of	year	1,814		783		772		691		638	AULC,	beginning	of	year	104		96		87		98		72	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	2		—		—		—		—	Provision	for	(Reduction	in)	unfunded	loan	commitments	and	letters	of	credit	losses	(41)		10		9		(11)		22	Fair	value	of	acquired	AULC	—		—		—		—		4	Unfunded	commitment	losses	(13)		(2)		—		—		—	AULC,	end	of	year	52		104		96		87		98	ACL,	end	of	year$	1,866	$	887	$	868	$	778	$	736	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.72					Huntington	Bancshares	IncorporatedThe	table	below	reflects	the	allocation	of	our	ALLL	among	our	various	loan	categories	and	the	reported	ACL	during	each	of	the	past	five	years:	Table	14	-	Allocation	of	Allowance	for	Credit	Losses	(1)(dollar	amounts	in	millions)December	31,20202019201820172016ACLCommercialCommercial	and	industrial$	939		43	%$	469		41	%$	422		41	%$	377		40	%$	356		42	%Commercial	real	estate	297		9		83		8		120		10		105		11		95		11	Total	commercial	1,236		52		552		49		542		51		482		51		451		53	ConsumerAutomobile	166		16		57		17		56		16		53		17		48		16	Home	equity	124		11		50		12		55		13		60		14		65		15	Residential	mortgage	79		15		23		15		25		14		21		13		33		12	RV	and	marine	129		5		21		5		20		4		15		3		5		3	Other	consumer	80		1		80		2		74		2		60		2		36		1	Total	consumer	578		48		231		51		230		49		209		49		187		47	Total	ALLL	1,814		100	%	783		100	%	772		100	%	691		100	%	638		100	%AULC	52		104		96		87		98	Total	ACL$	1,866	$	887	$	868	$	778	$	736	Total	ALLL	as	%	of:Total	loans	and	leases	2.22	%	1.04	%	1.03	%	0.99	%	0.95	%Nonaccrual	loans	and	leases	341		167		228		198		151	NPAs	323		157		200		178		133	Total	ACL	as	%	of:Total	loans	and	leases	2.29	%	1.18	%	1.16	%	1.11	%	1.10	%Nonaccrual	loans	and	leases	351		190		256		223		174	NPAs	332		178		225		200		153	(1)Percentages	represent	the	percentage	of	each	loan	and	lease	category	to	total	loans	and	leases.2020	versus	2019	At	December	31,	2020,	the	ALLL	was	$1.8	billion	or	2.22%	of	total	loans	and	leases,	compared	to	$783	million	or	1.04%	at	December	31,	2019.		Of	the	increase,	$640	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic,	with	the	remaining	$391	million	related	to	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	was	related	to	the	commercial	portfolio.		The	ALLL	to	total	loans	and	leases	ratio	increased	118	basis	points	to	2.22%As	referenced	above,	the	implementation	of	CECL	resulted	in	a	January	1	adoption	impact	of	$391	million.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.NCOsA	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	where	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs	at	the	time	of	discharge.Commercial	loans	are	either	charged-off	or	written	down	to	net	realizable	value	by	90-days	past	due	with	the	exception	of	administrative	small	ticket	lease	delinquencies.		Automobile	loans,	RV	and	marine,	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.		First-lien	and	junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due.		The	remaining	balance	is	in	delinquent	status	until	a	modification	can	be	completed,	or	the	loan	goes	through	the	foreclosure	process.	2020	Form	10-K					73The	following	table	reflects	activity	in	the	ALLL	and	AULC	for	each	of	the	last	five	years:Table	13	-	Summary	of	Allowance	for	Credit	Losses(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016ALLL,	beginning	of	year$	783	$	772	$	691	$	638	$	598	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	391		—		—		—		—	Loan	and	lease	charge-offsCommercial:Commercial	and	industrial	(328)		(160)		(68)		(68)		(77)	Commercial	real	estate:Construction	(1)		—		(1)		2		(2)	Commercial	(46)		(5)		(10)		(6)		(14)	Commercial	real	estate	(47)		(5)		(11)		(4)		(16)	Total	commercial	(375)		(165)		(79)		(72)		(93)	Consumer:Automobile	(60)		(57)		(58)		(64)		(50)	Home	equity	(16)		(21)		(21)		(20)		(26)	Residential	mortgage	(7)		(9)		(11)		(11)		(11)	RV	and	marine	(18)		(15)		(14)		(13)		(3)	Other	consumer	(64)		(95)		(85)		(72)		(44)	Total	consumer	(165)		(197)		(189)		(180)		(134)	Total	charge-offs	(540)		(362)		(268)		(252)		(227)	Recoveries	of	loan	and	lease	charge-offsCommercial:Commercial	and	industrial	29		32		36		26		32	Commercial	real	estate:Construction	1		2		2		3		4	Commercial	3		6		27		12		38	Total	commercial	real	estate	4		8		29		15		42	Total	commercial	33		40		65		41		74	Consumer:Automobile	27		25		24		22		18	Home	equity	10		13		15		15		17	Residential	mortgage	4		3		5		5		5	RV	and	marine	6		4		5		3		—	Other	consumer	11		12		9		7		4	Total	consumer	58		57		58		52		44	Total	recoveries	91		97		123		93		118	Net	loan	and	lease	charge-offs	(449)		(265)		(145)		(159)		(109)	Provision	for	loan	and	lease	losses	1,089		277		226		212		169	Allowance	for	assets	sold	and	securitized	or	transferred	to	loans	held	for	sale	—		(1)		—		—		(20)	ALLL,	end	of	year	1,814		783		772		691		638	AULC,	beginning	of	year	104		96		87		98		72	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	2		—		—		—		—	Provision	for	(Reduction	in)	unfunded	loan	commitments	and	letters	of	credit	losses	(41)		10		9		(11)		22	Fair	value	of	acquired	AULC	—		—		—		—		4	Unfunded	commitment	losses	(13)		(2)		—		—		—	AULC,	end	of	year	52		104		96		87		98	ACL,	end	of	year$	1,866	$	887	$	868	$	778	$	736	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.72					Huntington	Bancshares	IncorporatedThe	table	below	reflects	the	allocation	of	our	ALLL	among	our	various	loan	categories	and	the	reported	ACL	during	each	of	the	past	five	years:	Table	14	-	Allocation	of	Allowance	for	Credit	Losses	(1)(dollar	amounts	in	millions)December	31,20202019201820172016ACLCommercialCommercial	and	industrial$	939		43	%$	469		41	%$	422		41	%$	377		40	%$	356		42	%Commercial	real	estate	297		9		83		8		120		10		105		11		95		11	Total	commercial	1,236		52		552		49		542		51		482		51		451		53	ConsumerAutomobile	166		16		57		17		56		16		53		17		48		16	Home	equity	124		11		50		12		55		13		60		14		65		15	Residential	mortgage	79		15		23		15		25		14		21		13		33		12	RV	and	marine	129		5		21		5		20		4		15		3		5		3	Other	consumer	80		1		80		2		74		2		60		2		36		1	Total	consumer	578		48		231		51		230		49		209		49		187		47	Total	ALLL	1,814		100	%	783		100	%	772		100	%	691		100	%	638		100	%AULC	52		104		96		87		98	Total	ACL$	1,866	$	887	$	868	$	778	$	736	Total	ALLL	as	%	of:Total	loans	and	leases	2.22	%	1.04	%	1.03	%	0.99	%	0.95	%Nonaccrual	loans	and	leases	341		167		228		198		151	NPAs	323		157		200		178		133	Total	ACL	as	%	of:Total	loans	and	leases	2.29	%	1.18	%	1.16	%	1.11	%	1.10	%Nonaccrual	loans	and	leases	351		190		256		223		174	NPAs	332		178		225		200		153	(1)Percentages	represent	the	percentage	of	each	loan	and	lease	category	to	total	loans	and	leases.2020	versus	2019	At	December	31,	2020,	the	ALLL	was	$1.8	billion	or	2.22%	of	total	loans	and	leases,	compared	to	$783	million	or	1.04%	at	December	31,	2019.		Of	the	increase,	$640	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic,	with	the	remaining	$391	million	related	to	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	was	related	to	the	commercial	portfolio.		The	ALLL	to	total	loans	and	leases	ratio	increased	118	basis	points	to	2.22%As	referenced	above,	the	implementation	of	CECL	resulted	in	a	January	1	adoption	impact	of	$391	million.		The	ACL	to	total	loans	ratio	was	2.29%	at	December	31,	2020	compared	to	1.18%	at	December	31,	2019,	which	primarily	reflects	the	transition	to	the	CECL	lifetime	loss	methodology	and	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic.NCOsA	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	where	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs	at	the	time	of	discharge.Commercial	loans	are	either	charged-off	or	written	down	to	net	realizable	value	by	90-days	past	due	with	the	exception	of	administrative	small	ticket	lease	delinquencies.		Automobile	loans,	RV	and	marine,	and	other	consumer	loans	are	generally	fully	charged-off	at	120-days	past	due.		First-lien	and	junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	costs,	at	150-days	past	due.		The	remaining	balance	is	in	delinquent	status	until	a	modification	can	be	completed,	or	the	loan	goes	through	the	foreclosure	process.	2020	Form	10-K					73The	following	table	reflects	NCO	detail	for	each	of	the	last	five	years:	Table	15	-	Net	Loan	and	Lease	Charge-offs(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016Net	charge-offs	by	loan	and	lease	type:Commercial:Commercial	and	industrial$	299	$	128	$	32	$	42	$	45	Commercial	real	estate:Construction	—		(2)		(1)		(5)		(2)	Commercial	43		(1)		(17)		(6)		(24)	Commercial	real	estate	43		(3)		(18)		(11)		(26)	Total	commercial	342		125		14		31		19	Consumer:Automobile	33		32		34		42		32	Home	equity	6		8		6		5		9	Residential	mortgage	3		6		6		6		6	RV	and	marine	12		11		9		10		2	Other	consumer	53		83		76		65		41	Total	consumer	107		140		131		128		90	Total	net	charge-offs$	449	$	265	$	145	$	159	$	109	Net	charge-offs	-	annualized	percentages:Commercial:Commercial	and	industrial	0.88	%	0.42	%	0.11	%	0.15	%	0.19	%Commercial	real	estate:Construction	(0.05)		(0.15)		(0.13)		(0.36)		(0.19)	Commercial	0.74		(0.02)		(0.26)		(0.10)		(0.49)	Commercial	real	estate	0.61		(0.04)		(0.24)		(0.15)		(0.44)	Total	commercial	0.84		0.33		0.04		0.09		0.06	Consumer:Automobile	0.26		0.26		0.27		0.36		0.30	Home	equity	0.07		0.08		0.06		0.05		0.10	Residential	mortgage	0.03		0.06		0.06		0.08		0.09	RV	and	marine	0.31		0.31		0.32		0.48		0.33	Other	consumer	4.84		6.62		6.27		6.36		5.53	Total	consumer	0.28		0.37		0.36		0.39		0.32	Net	charge-offs	as	a	%	of	average	loans	0.57	%	0.35	%	0.20	%	0.23	%	0.19	%2020	versus	2019	NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.Market	RiskMarket	risk	refers	to	potential	losses	arising	from	changes	in	interest	rates,	foreign	exchange	rates,	equity	prices	and	commodity	prices,	including	the	correlation	among	these	factors	and	their	volatility.		When	the	value	of	an	instrument	is	tied	to	such	external	factors,	the	holder	faces	market	risk.		We	are	primarily	exposed	to	interest	rate	risk	as	a	result	of	offering	a	wide	array	of	financial	products	to	our	customers	and	secondarily	to	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	equity	investments,	and	investments	in	securities	backed	by	mortgage	loans.Huntington	measures	market	risk	exposure	via	financial	simulation	models,	which	provide	management	with	insights	on	the	potential	impact	to	net	interest	income	and	other	key	metrics	as	a	result	of	changes	in	market	interest	rates.		Models	are	used	to	simulate	cash	flows	and	accrual	characteristics	of	the	balance	sheet	based	on	assumptions	regarding	the	slope	or	shape	of	the	yield	curve,	the	direction	and	volatility	of	interest	rates,	and	the	74					Huntington	Bancshares	Incorporatedchanging	composition	and	characteristics	of	the	balance	sheet	resulting	from	strategic	objectives	and	customer	behavior.		Assumptions	and	models	provide	insight	on	forecasted	balance	sheet	growth	and	composition,	and	the	pricing	and	maturity	characteristics	of	current	and	future	business.In	measuring	the	financial	risks	associated	with	interest	rate	sensitivity	in	Huntington’s	balance	sheet,	Huntington	compares	a	set	of	alternative	interest	rate	scenarios	to	the	results	of	a	base	case	scenario	derived	using	market	forward	rates.		The	market	forward	reflects	the	market	consensus	regarding	the	future	level	and	slope	of	the	yield	curve	across	a	range	of	tenor	points.		The	standard	set	of	interest	rate	scenarios	includes	two	types:	“shock”	scenarios	which	are	instantaneous	parallel	rate	shifts,	and	“ramp”	scenarios	where	the	parallel	shift	is	applied	gradually	over	the	first	12	months	of	the	forecast	on	a	pro	rata	basis.		In	both	shock	and	ramp	scenarios	with	falling	rates,	Huntington	presumes	that	market	rates	cannot	go	below	0%.		The	scenarios	are	inclusive	of	all	interest	rate	risk	hedging	activities.		Forward	starting	hedges	are	included	to	the	extent	that	they	have	been	transacted	and	that	they	start	within	the	measurement	horizon.Table	16	-	Net	Interest	Income	at	Risk	Net	Interest	Income	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.3	%	-2.0	%	-4.0	%December	31,	2020	-1.1		3.4		7.3	December	31,	2019NA	1.0		2.3	The	NII	at	Risk	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	gradual	(“ramp”	as	defined	above)	+100	and	+200	basis	point	parallel	shifts	in	market	interest	rates,	implied	by	the	forward	yield	curve	over	the	next	twelve	months	as	well	as	an	instantaneous	parallel	shock	of	-25	basis	points.	With	the	continued	decline	in	rates,	the	down	100	basis	point	ramp	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	ramp	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	which	would	result	in	margin	deterioration.	The	increase	in	sensitivity	was	driven	by	the	impact	of	lower	forecast	rates	on	non-maturity	deposits	resulting	in	slower	balance	runoff	and	higher	securities	prepayments	in	the	implied	forward	scenario	resulting	in	more	opportunity	for	reinvestment	at	higher	rates	in	rising	rate	environments.		Additionally,	an	increase	in	the	securities	portfolio	and	the	hedge	program	have	also	resulted	in	increased	sensitivity.Our	NII	at	Risk	is	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.			The	NII	at	Risk	shows	that	our	balance	sheet	is	asset	sensitive	at	both	December	31,	2020,	and	December	31,	2019.Table	17	-	Economic	Value	of	Equity	at	Risk	Economic	Value	of	Equity	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.5	%	-6.0	%	-12.0	%December	31,	2020	-0.7		1.4		-0.1	December	31,	2019NA	-3.1		-9.1	The	EVE	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	immediate	-25,	+100	and	+200	basis	point	parallel	shifts	(“shocks”	as	defined	above)	in	market	interest	rates.	With	the	continued	decline	in	rates,	the	down	100	basis	point	shock	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	shock	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	to	understand	the	impact	on	EVE.We	are	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.		The	EVE	depicts	an	asset	sensitive	balance	sheet	profile.		The	change	in	sensitivity	was	driven	primarily	by	lower	interest	rates	slowing	deposit	runoff	and	to	a	lesser	extent,	expected	securities	portfolio	runoff.We	have	LIBOR-based	exposure	in	the	form	of	certain	variable	rate	loans,	derivatives,	Series	B	preferred	stock,	long	term	debt	and	other	securities	and	financial	arrangements.		To	address	the	discontinuance	of	LIBOR	in	its	current	form,	we	have	established	a	LIBOR	transition	team	and	project	plan	under	the	oversight	of	the	CRO	and	CFO,	2020	Form	10-K					75The	following	table	reflects	NCO	detail	for	each	of	the	last	five	years:	Table	15	-	Net	Loan	and	Lease	Charge-offs(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016Net	charge-offs	by	loan	and	lease	type:Commercial:Commercial	and	industrial$	299	$	128	$	32	$	42	$	45	Commercial	real	estate:Construction	—		(2)		(1)		(5)		(2)	Commercial	43		(1)		(17)		(6)		(24)	Commercial	real	estate	43		(3)		(18)		(11)		(26)	Total	commercial	342		125		14		31		19	Consumer:Automobile	33		32		34		42		32	Home	equity	6		8		6		5		9	Residential	mortgage	3		6		6		6		6	RV	and	marine	12		11		9		10		2	Other	consumer	53		83		76		65		41	Total	consumer	107		140		131		128		90	Total	net	charge-offs$	449	$	265	$	145	$	159	$	109	Net	charge-offs	-	annualized	percentages:Commercial:Commercial	and	industrial	0.88	%	0.42	%	0.11	%	0.15	%	0.19	%Commercial	real	estate:Construction	(0.05)		(0.15)		(0.13)		(0.36)		(0.19)	Commercial	0.74		(0.02)		(0.26)		(0.10)		(0.49)	Commercial	real	estate	0.61		(0.04)		(0.24)		(0.15)		(0.44)	Total	commercial	0.84		0.33		0.04		0.09		0.06	Consumer:Automobile	0.26		0.26		0.27		0.36		0.30	Home	equity	0.07		0.08		0.06		0.05		0.10	Residential	mortgage	0.03		0.06		0.06		0.08		0.09	RV	and	marine	0.31		0.31		0.32		0.48		0.33	Other	consumer	4.84		6.62		6.27		6.36		5.53	Total	consumer	0.28		0.37		0.36		0.39		0.32	Net	charge-offs	as	a	%	of	average	loans	0.57	%	0.35	%	0.20	%	0.23	%	0.19	%2020	versus	2019	NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.Market	RiskMarket	risk	refers	to	potential	losses	arising	from	changes	in	interest	rates,	foreign	exchange	rates,	equity	prices	and	commodity	prices,	including	the	correlation	among	these	factors	and	their	volatility.		When	the	value	of	an	instrument	is	tied	to	such	external	factors,	the	holder	faces	market	risk.		We	are	primarily	exposed	to	interest	rate	risk	as	a	result	of	offering	a	wide	array	of	financial	products	to	our	customers	and	secondarily	to	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	equity	investments,	and	investments	in	securities	backed	by	mortgage	loans.Huntington	measures	market	risk	exposure	via	financial	simulation	models,	which	provide	management	with	insights	on	the	potential	impact	to	net	interest	income	and	other	key	metrics	as	a	result	of	changes	in	market	interest	rates.		Models	are	used	to	simulate	cash	flows	and	accrual	characteristics	of	the	balance	sheet	based	on	assumptions	regarding	the	slope	or	shape	of	the	yield	curve,	the	direction	and	volatility	of	interest	rates,	and	the	74					Huntington	Bancshares	Incorporatedchanging	composition	and	characteristics	of	the	balance	sheet	resulting	from	strategic	objectives	and	customer	behavior.		Assumptions	and	models	provide	insight	on	forecasted	balance	sheet	growth	and	composition,	and	the	pricing	and	maturity	characteristics	of	current	and	future	business.In	measuring	the	financial	risks	associated	with	interest	rate	sensitivity	in	Huntington’s	balance	sheet,	Huntington	compares	a	set	of	alternative	interest	rate	scenarios	to	the	results	of	a	base	case	scenario	derived	using	market	forward	rates.		The	market	forward	reflects	the	market	consensus	regarding	the	future	level	and	slope	of	the	yield	curve	across	a	range	of	tenor	points.		The	standard	set	of	interest	rate	scenarios	includes	two	types:	“shock”	scenarios	which	are	instantaneous	parallel	rate	shifts,	and	“ramp”	scenarios	where	the	parallel	shift	is	applied	gradually	over	the	first	12	months	of	the	forecast	on	a	pro	rata	basis.		In	both	shock	and	ramp	scenarios	with	falling	rates,	Huntington	presumes	that	market	rates	cannot	go	below	0%.		The	scenarios	are	inclusive	of	all	interest	rate	risk	hedging	activities.		Forward	starting	hedges	are	included	to	the	extent	that	they	have	been	transacted	and	that	they	start	within	the	measurement	horizon.Table	16	-	Net	Interest	Income	at	Risk	Net	Interest	Income	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.3	%	-2.0	%	-4.0	%December	31,	2020	-1.1		3.4		7.3	December	31,	2019	1.0		2.3	The	NII	at	Risk	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	gradual	(“ramp”	as	defined	above)	+100	and	+200	basis	point	parallel	shifts	in	market	interest	rates,	implied	by	the	forward	yield	curve	over	the	next	twelve	months	as	well	as	an	instantaneous	parallel	shock	of	-25	basis	points.	With	the	continued	decline	in	rates,	the	down	100	basis	point	ramp	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	ramp	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	which	would	result	in	margin	deterioration.	The	increase	in	sensitivity	was	driven	by	the	impact	of	lower	forecast	rates	on	non-maturity	deposits	resulting	in	slower	balance	runoff	and	higher	securities	prepayments	in	the	implied	forward	scenario	resulting	in	more	opportunity	for	reinvestment	at	higher	rates	in	rising	rate	environments.		Additionally,	an	increase	in	the	securities	portfolio	and	the	hedge	program	have	also	resulted	in	increased	sensitivity.Our	NII	at	Risk	is	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.			The	NII	at	Risk	shows	that	our	balance	sheet	is	asset	sensitive	at	both	December	31,	2020,	and	December	31,	2019.Table	17	-	Economic	Value	of	Equity	at	Risk	Economic	Value	of	Equity	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.5	%	-6.0	%	-12.0	%December	31,	2020	-0.7		1.4		-0.1	December	31,	2019	-3.1		-9.1	The	EVE	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	immediate	-25,	+100	and	+200	basis	point	parallel	shifts	(“shocks”	as	defined	above)	in	market	interest	rates.	With	the	continued	decline	in	rates,	the	down	100	basis	point	shock	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	shock	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	to	understand	the	impact	on	EVE.We	are	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.		The	EVE	depicts	an	asset	sensitive	balance	sheet	profile.		The	change	in	sensitivity	was	driven	primarily	by	lower	interest	rates	slowing	deposit	runoff	and	to	a	lesser	extent,	expected	securities	portfolio	runoff.We	have	LIBOR-based	exposure	in	the	form	of	certain	variable	rate	loans,	derivatives,	Series	B	preferred	stock,	long	term	debt	and	other	securities	and	financial	arrangements.		To	address	the	discontinuance	of	LIBOR	in	its	current	form,	we	have	established	a	LIBOR	transition	team	and	project	plan	under	the	oversight	of	the	CRO	and	CFO,	2020	Form	10-K					75N/AN/AThe	following	table	reflects	NCO	detail	for	each	of	the	last	five	years:	Table	15	-	Net	Loan	and	Lease	Charge-offs(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016Net	charge-offs	by	loan	and	lease	type:Commercial:Commercial	and	industrial$	299	$	128	$	32	$	42	$	45	Commercial	real	estate:Construction	—		(2)		(1)		(5)		(2)	Commercial	43		(1)		(17)		(6)		(24)	Commercial	real	estate	43		(3)		(18)		(11)		(26)	Total	commercial	342		125		14		31		19	Consumer:Automobile	33		32		34		42		32	Home	equity	6		8		6		5		9	Residential	mortgage	3		6		6		6		6	RV	and	marine	12		11		9		10		2	Other	consumer	53		83		76		65		41	Total	consumer	107		140		131		128		90	Total	net	charge-offs$	449	$	265	$	145	$	159	$	109	Net	charge-offs	-	annualized	percentages:Commercial:Commercial	and	industrial	0.88	%	0.42	%	0.11	%	0.15	%	0.19	%Commercial	real	estate:Construction	(0.05)		(0.15)		(0.13)		(0.36)		(0.19)	Commercial	0.74		(0.02)		(0.26)		(0.10)		(0.49)	Commercial	real	estate	0.61		(0.04)		(0.24)		(0.15)		(0.44)	Total	commercial	0.84		0.33		0.04		0.09		0.06	Consumer:Automobile	0.26		0.26		0.27		0.36		0.30	Home	equity	0.07		0.08		0.06		0.05		0.10	Residential	mortgage	0.03		0.06		0.06		0.08		0.09	RV	and	marine	0.31		0.31		0.32		0.48		0.33	Other	consumer	4.84		6.62		6.27		6.36		5.53	Total	consumer	0.28		0.37		0.36		0.39		0.32	Net	charge-offs	as	a	%	of	average	loans	0.57	%	0.35	%	0.20	%	0.23	%	0.19	%2020	versus	2019	NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.Market	RiskMarket	risk	refers	to	potential	losses	arising	from	changes	in	interest	rates,	foreign	exchange	rates,	equity	prices	and	commodity	prices,	including	the	correlation	among	these	factors	and	their	volatility.		When	the	value	of	an	instrument	is	tied	to	such	external	factors,	the	holder	faces	market	risk.		We	are	primarily	exposed	to	interest	rate	risk	as	a	result	of	offering	a	wide	array	of	financial	products	to	our	customers	and	secondarily	to	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	equity	investments,	and	investments	in	securities	backed	by	mortgage	loans.Huntington	measures	market	risk	exposure	via	financial	simulation	models,	which	provide	management	with	insights	on	the	potential	impact	to	net	interest	income	and	other	key	metrics	as	a	result	of	changes	in	market	interest	rates.		Models	are	used	to	simulate	cash	flows	and	accrual	characteristics	of	the	balance	sheet	based	on	assumptions	regarding	the	slope	or	shape	of	the	yield	curve,	the	direction	and	volatility	of	interest	rates,	and	the	74					Huntington	Bancshares	Incorporatedchanging	composition	and	characteristics	of	the	balance	sheet	resulting	from	strategic	objectives	and	customer	behavior.		Assumptions	and	models	provide	insight	on	forecasted	balance	sheet	growth	and	composition,	and	the	pricing	and	maturity	characteristics	of	current	and	future	business.In	measuring	the	financial	risks	associated	with	interest	rate	sensitivity	in	Huntington’s	balance	sheet,	Huntington	compares	a	set	of	alternative	interest	rate	scenarios	to	the	results	of	a	base	case	scenario	derived	using	market	forward	rates.		The	market	forward	reflects	the	market	consensus	regarding	the	future	level	and	slope	of	the	yield	curve	across	a	range	of	tenor	points.		The	standard	set	of	interest	rate	scenarios	includes	two	types:	“shock”	scenarios	which	are	instantaneous	parallel	rate	shifts,	and	“ramp”	scenarios	where	the	parallel	shift	is	applied	gradually	over	the	first	12	months	of	the	forecast	on	a	pro	rata	basis.		In	both	shock	and	ramp	scenarios	with	falling	rates,	Huntington	presumes	that	market	rates	cannot	go	below	0%.		The	scenarios	are	inclusive	of	all	interest	rate	risk	hedging	activities.		Forward	starting	hedges	are	included	to	the	extent	that	they	have	been	transacted	and	that	they	start	within	the	measurement	horizon.Table	16	-	Net	Interest	Income	at	Risk	Net	Interest	Income	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.3	%	-2.0	%	-4.0	%December	31,	2020	-1.1		3.4		7.3	December	31,	2019NA	1.0		2.3	The	NII	at	Risk	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	gradual	(“ramp”	as	defined	above)	+100	and	+200	basis	point	parallel	shifts	in	market	interest	rates,	implied	by	the	forward	yield	curve	over	the	next	twelve	months	as	well	as	an	instantaneous	parallel	shock	of	-25	basis	points.	With	the	continued	decline	in	rates,	the	down	100	basis	point	ramp	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	ramp	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	which	would	result	in	margin	deterioration.	The	increase	in	sensitivity	was	driven	by	the	impact	of	lower	forecast	rates	on	non-maturity	deposits	resulting	in	slower	balance	runoff	and	higher	securities	prepayments	in	the	implied	forward	scenario	resulting	in	more	opportunity	for	reinvestment	at	higher	rates	in	rising	rate	environments.		Additionally,	an	increase	in	the	securities	portfolio	and	the	hedge	program	have	also	resulted	in	increased	sensitivity.Our	NII	at	Risk	is	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.			The	NII	at	Risk	shows	that	our	balance	sheet	is	asset	sensitive	at	both	December	31,	2020,	and	December	31,	2019.Table	17	-	Economic	Value	of	Equity	at	Risk	Economic	Value	of	Equity	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.5	%	-6.0	%	-12.0	%December	31,	2020	-0.7		1.4		-0.1	December	31,	2019NA	-3.1		-9.1	The	EVE	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	immediate	-25,	+100	and	+200	basis	point	parallel	shifts	(“shocks”	as	defined	above)	in	market	interest	rates.	With	the	continued	decline	in	rates,	the	down	100	basis	point	shock	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	shock	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	to	understand	the	impact	on	EVE.We	are	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.		The	EVE	depicts	an	asset	sensitive	balance	sheet	profile.		The	change	in	sensitivity	was	driven	primarily	by	lower	interest	rates	slowing	deposit	runoff	and	to	a	lesser	extent,	expected	securities	portfolio	runoff.We	have	LIBOR-based	exposure	in	the	form	of	certain	variable	rate	loans,	derivatives,	Series	B	preferred	stock,	long	term	debt	and	other	securities	and	financial	arrangements.		To	address	the	discontinuance	of	LIBOR	in	its	current	form,	we	have	established	a	LIBOR	transition	team	and	project	plan	under	the	oversight	of	the	CRO	and	CFO,	2020	Form	10-K					75The	following	table	reflects	NCO	detail	for	each	of	the	last	five	years:	Table	15	-	Net	Loan	and	Lease	Charge-offs(dollar	amounts	in	millions)Year	Ended	December	31,20202019201820172016Net	charge-offs	by	loan	and	lease	type:Commercial:Commercial	and	industrial$	299	$	128	$	32	$	42	$	45	Commercial	real	estate:Construction	—		(2)		(1)		(5)		(2)	Commercial	43		(1)		(17)		(6)		(24)	Commercial	real	estate	43		(3)		(18)		(11)		(26)	Total	commercial	342		125		14		31		19	Consumer:Automobile	33		32		34		42		32	Home	equity	6		8		6		5		9	Residential	mortgage	3		6		6		6		6	RV	and	marine	12		11		9		10		2	Other	consumer	53		83		76		65		41	Total	consumer	107		140		131		128		90	Total	net	charge-offs$	449	$	265	$	145	$	159	$	109	Net	charge-offs	-	annualized	percentages:Commercial:Commercial	and	industrial	0.88	%	0.42	%	0.11	%	0.15	%	0.19	%Commercial	real	estate:Construction	(0.05)		(0.15)		(0.13)		(0.36)		(0.19)	Commercial	0.74		(0.02)		(0.26)		(0.10)		(0.49)	Commercial	real	estate	0.61		(0.04)		(0.24)		(0.15)		(0.44)	Total	commercial	0.84		0.33		0.04		0.09		0.06	Consumer:Automobile	0.26		0.26		0.27		0.36		0.30	Home	equity	0.07		0.08		0.06		0.05		0.10	Residential	mortgage	0.03		0.06		0.06		0.08		0.09	RV	and	marine	0.31		0.31		0.32		0.48		0.33	Other	consumer	4.84		6.62		6.27		6.36		5.53	Total	consumer	0.28		0.37		0.36		0.39		0.32	Net	charge-offs	as	a	%	of	average	loans	0.57	%	0.35	%	0.20	%	0.23	%	0.19	%2020	versus	2019	NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.Market	RiskMarket	risk	refers	to	potential	losses	arising	from	changes	in	interest	rates,	foreign	exchange	rates,	equity	prices	and	commodity	prices,	including	the	correlation	among	these	factors	and	their	volatility.		When	the	value	of	an	instrument	is	tied	to	such	external	factors,	the	holder	faces	market	risk.		We	are	primarily	exposed	to	interest	rate	risk	as	a	result	of	offering	a	wide	array	of	financial	products	to	our	customers	and	secondarily	to	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	equity	investments,	and	investments	in	securities	backed	by	mortgage	loans.Huntington	measures	market	risk	exposure	via	financial	simulation	models,	which	provide	management	with	insights	on	the	potential	impact	to	net	interest	income	and	other	key	metrics	as	a	result	of	changes	in	market	interest	rates.		Models	are	used	to	simulate	cash	flows	and	accrual	characteristics	of	the	balance	sheet	based	on	assumptions	regarding	the	slope	or	shape	of	the	yield	curve,	the	direction	and	volatility	of	interest	rates,	and	the	74					Huntington	Bancshares	Incorporatedchanging	composition	and	characteristics	of	the	balance	sheet	resulting	from	strategic	objectives	and	customer	behavior.		Assumptions	and	models	provide	insight	on	forecasted	balance	sheet	growth	and	composition,	and	the	pricing	and	maturity	characteristics	of	current	and	future	business.In	measuring	the	financial	risks	associated	with	interest	rate	sensitivity	in	Huntington’s	balance	sheet,	Huntington	compares	a	set	of	alternative	interest	rate	scenarios	to	the	results	of	a	base	case	scenario	derived	using	market	forward	rates.		The	market	forward	reflects	the	market	consensus	regarding	the	future	level	and	slope	of	the	yield	curve	across	a	range	of	tenor	points.		The	standard	set	of	interest	rate	scenarios	includes	two	types:	“shock”	scenarios	which	are	instantaneous	parallel	rate	shifts,	and	“ramp”	scenarios	where	the	parallel	shift	is	applied	gradually	over	the	first	12	months	of	the	forecast	on	a	pro	rata	basis.		In	both	shock	and	ramp	scenarios	with	falling	rates,	Huntington	presumes	that	market	rates	cannot	go	below	0%.		The	scenarios	are	inclusive	of	all	interest	rate	risk	hedging	activities.		Forward	starting	hedges	are	included	to	the	extent	that	they	have	been	transacted	and	that	they	start	within	the	measurement	horizon.Table	16	-	Net	Interest	Income	at	Risk	Net	Interest	Income	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.3	%	-2.0	%	-4.0	%December	31,	2020	-1.1		3.4		7.3	December	31,	2019	1.0		2.3	The	NII	at	Risk	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	gradual	(“ramp”	as	defined	above)	+100	and	+200	basis	point	parallel	shifts	in	market	interest	rates,	implied	by	the	forward	yield	curve	over	the	next	twelve	months	as	well	as	an	instantaneous	parallel	shock	of	-25	basis	points.	With	the	continued	decline	in	rates,	the	down	100	basis	point	ramp	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	ramp	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	which	would	result	in	margin	deterioration.	The	increase	in	sensitivity	was	driven	by	the	impact	of	lower	forecast	rates	on	non-maturity	deposits	resulting	in	slower	balance	runoff	and	higher	securities	prepayments	in	the	implied	forward	scenario	resulting	in	more	opportunity	for	reinvestment	at	higher	rates	in	rising	rate	environments.		Additionally,	an	increase	in	the	securities	portfolio	and	the	hedge	program	have	also	resulted	in	increased	sensitivity.Our	NII	at	Risk	is	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.			The	NII	at	Risk	shows	that	our	balance	sheet	is	asset	sensitive	at	both	December	31,	2020,	and	December	31,	2019.Table	17	-	Economic	Value	of	Equity	at	Risk	Economic	Value	of	Equity	at	Risk	(%)Basis	point	change	scenario-25+100+200Board	policy	limits	-1.5	%	-6.0	%	-12.0	%December	31,	2020	-0.7		1.4		-0.1	December	31,	2019	-3.1		-9.1	The	EVE	results	included	in	the	table	above	reflect	the	analysis	used	monthly	by	management.		It	models	immediate	-25,	+100	and	+200	basis	point	parallel	shifts	(“shocks”	as	defined	above)	in	market	interest	rates.	With	the	continued	decline	in	rates,	the	down	100	basis	point	shock	scenario	can	produce	a	distorted	view	of	interest	rate	risks	metrics.		As	a	result,	the	down	100	basis	point	shock	scenario	was	replaced	with	the	down	25	basis	point	shock	scenario	by	the	Board	as	a	policy	metric	beginning	September	30,	2020.		Management	does	consider	additional	scenarios	with	forecasted	negative	market	rates	to	understand	the	impact	on	EVE.We	are	within	our	Board	of	Directors’	policy	limits	for	the	-25,	+100	and	+200	basis	point	scenarios.		The	EVE	depicts	an	asset	sensitive	balance	sheet	profile.		The	change	in	sensitivity	was	driven	primarily	by	lower	interest	rates	slowing	deposit	runoff	and	to	a	lesser	extent,	expected	securities	portfolio	runoff.We	have	LIBOR-based	exposure	in	the	form	of	certain	variable	rate	loans,	derivatives,	Series	B	preferred	stock,	long	term	debt	and	other	securities	and	financial	arrangements.		To	address	the	discontinuance	of	LIBOR	in	its	current	form,	we	have	established	a	LIBOR	transition	team	and	project	plan	under	the	oversight	of	the	CRO	and	CFO,	2020	Form	10-K					75N/AN/Aproviding	periodic	updates	to	the	ROC.		In	reviewing	the	contract	fallback	language,	certain	contracts	were	identified	as	needing	updated	provisions	for	transition.		The	LIBOR	transition	team	is	coordinating	remediation,	where	necessary.		Our	technology	team	has	undertaken	core	loan	servicing	system	projects	to	support	alternative	reference	rates	with	some	already	operational	and	others	with	target	project	completion	dates	in	the	first	half	of	2021.		Additionally,	we	have	developed	a	SOFR-enabled	interest	rate	risk	monitoring	framework	and	a	strategy	for	managing	interest	rate	risk	during	the	transition	from	LIBOR	to	SOFR.		During	the	fourth	quarter	of	2020,	Huntington	began	indexing	new	retail	adjustable	rate	mortgages	to	SOFR	(Secured	Overnight	Funding	Rate).		We	continue	to	monitor	market	developments	and	regulatory	updates,	including	the	recent	announcements	from	the	ICE	Benchmark	Administrator	to	extend	the	cessation	date	for	several	USD	LIBOR	tenors	to	June	30,	2023.		For	a	discussion	of	the	risks	associated	with	the	LIBOR	transition	to	alternative	reference	rates,	refer	to	"Item	1A:	Risk	Factors.”	Use	of	Derivatives	to	Manage	Interest	Rate	RiskAn	integral	component	of	our	interest	rate	risk	management	strategy	is	the	use	of	derivative	instruments	to	minimize	significant	fluctuations	in	earnings	caused	by	changes	in	market	interest	rates.		Examples	of	derivative	instruments	that	we	may	use	as	part	of	our	interest	rate	risk	management	strategy	include	interest	rate	swaps,	interest	rate	floors,	interest	rate	caps,	forward	contracts,	and	forward	starting	interest	rate	swaps.		Huntington	has	entered	into	a	number	of	interest	rate	derivative	contracts	to	manage	our	interest	rate	risk	position	which	are	economic	hedges	(i.e.,	do	not	receive	hedge	accounting	treatment).		The	impact	of	changes	in	the	fair	value	of	derivatives	designated	as	economic	hedges	are	reported	in	current	period	earnings.		While	these	interest	rate	derivatives	are	used	to	reduce	the	long-term	interest	rate	sensitivity,	these	economic	hedges	can	result	in	short-term	volatility	in	net	interest	income	as	a	result	of	the	changes	in	interest	rates.		Table	18	shows	all	swap,	floor	and	cap	positions	that	are	utilized	for	purposes	of	managing	our	exposures	to	the	variability	of	interest	rates.		These	positions	are	used	to	convert	the	contractual	interest	rate	index	of	agreed-upon	amounts	of	assets	and	liabilities	(i.e.,	notional	amounts)	to	another	interest	rate	index	or	to	hedge	forecasted	transactions	for	the	variability	in	cash	flows	attributable	to	the	contractually	specified	interest	rate.		The	volume,	maturity	and	mix	of	portfolio	derivative	positions	change	frequently	as	we	adjust	our	broader	interest	rate	risk	management	objectives	and	the	balance	sheet	positions	to	be	hedged.		For	further	information,	including	the	notional	amount	and	fair	values	of	these	derivatives,	refer	to	Note	21	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements.		76					Huntington	Bancshares	IncorporatedThe	following	table	presents	additional	information	about	the	interest	rate	swaps,	floors	and	caps	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019.Table	18	-	Weighted-Average	Maturity,	Receive	Rate	and	LIBOR	Reset	Rate	on	Asset	Liability	Management	InstrumentsDecember	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	6,525		2.03	$	231		1.81	%	0.15	%Pay	Fixed	-	Receive	1	month	LIBOR	(1)	3,076		1.99		3		0.17		0.15	Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(2)	750		3.29		23		1.24		—	Pay	Fixed	-	Receive	1	month	LIBOR	-	forward	starting	(3)	408		9.08		2		0.68		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,397		2.02		262		2.28		0.15	Receive	Fixed	-	Pay	3	month	LIBOR	800		0.21		5		1.31		0.22	Basis	swapsPay	SOFR-	Receive	Fed	Fund	(economic	hedges)	(4)$	230	4.66$	—		0.09		0.10	Pay	Fed	Fund	-	Receive	SOFR	(economic	hedges)	(4)	41		1.98		—		0.09		0.09	Total	swap	portfolio$	17,227	$	526	December	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	7,200		0.37	$	59		1.81	%	0.15	%Purchased	Floor	Spread	-	1	month	LIBOR	400		1.74		7	2.50	/	1.50	0.15	Purchased	Floor	Spread	-	1	month	LIBOR	forward	starting	(5)	2,500		3.72		76	1.65	/	0.70	—	Purchased	Floor	Spread	-	1	month	LIBOR	(economic	hedges)	1,000	2.29	18	1.75	/	1.00	0.16	Interest	rate	capsPurchased	Cap	-	1	month	LIBOR	(economic	hedges)	5,000	6.91	91		0.98		0.15	Total	floors	portfolio$	16,100	$	251	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	5,387		2.87	$	51		1.89	%1.73%Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(6)	3,250		4.02		(28)		1.32		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,250		2.97		146		2.37		1.72	Receive	Fixed	-	Pay	3	month	LIBOR	2,290		0.84		5		1.80		1.94	Total	swap	portfolio$	16,177	$	174	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	9,200		1.45	$	36		1.84	%	1.54	%Purchased	Floor	Spread	-	1	month	LIBOR	400		2.74		8	2.50	/	1.50	1.79	Purchased	Floor	Spread	-	1	month	LIBOR	-	forward	starting	(7)	150	4.34	2	1.75	/	1.00	—	Total	floors	portfolio$	9,750	$	46	(1)Amounts	include	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.(2)Forward	starting	swaps	will	become	effective	April	2021.(3)Forward	starting	swaps	will	become	effective	from	January	2021	to	May	2021.(4)Swaps	have	variable	pay	and	variable	receive	resets.	Weighted	Average	Fixed	Rate	column	represents	pay	rate	reset.(5)Forward	starting	floor	spreads	will	become	effective	from	March	2021	to	June	2021.	(6)Forward	starting	swaps	will	become	effective	from	January	2020	to	June	2021.(7)Forward	starting	floors	will	become	effective	from	March	2021	to	June	2021.	2020	Form	10-K					77providing	periodic	updates	to	the	ROC.		In	reviewing	the	contract	fallback	language,	certain	contracts	were	identified	as	needing	updated	provisions	for	transition.		The	LIBOR	transition	team	is	coordinating	remediation,	where	necessary.		Our	technology	team	has	undertaken	core	loan	servicing	system	projects	to	support	alternative	reference	rates	with	some	already	operational	and	others	with	target	project	completion	dates	in	the	first	half	of	2021.		Additionally,	we	have	developed	a	SOFR-enabled	interest	rate	risk	monitoring	framework	and	a	strategy	for	managing	interest	rate	risk	during	the	transition	from	LIBOR	to	SOFR.		During	the	fourth	quarter	of	2020,	Huntington	began	indexing	new	retail	adjustable	rate	mortgages	to	SOFR	(Secured	Overnight	Funding	Rate).		We	continue	to	monitor	market	developments	and	regulatory	updates,	including	the	recent	announcements	from	the	ICE	Benchmark	Administrator	to	extend	the	cessation	date	for	several	USD	LIBOR	tenors	to	June	30,	2023.		For	a	discussion	of	the	risks	associated	with	the	LIBOR	transition	to	alternative	reference	rates,	refer	to	"Item	1A:	Risk	Factors.”	Use	of	Derivatives	to	Manage	Interest	Rate	RiskAn	integral	component	of	our	interest	rate	risk	management	strategy	is	the	use	of	derivative	instruments	to	minimize	significant	fluctuations	in	earnings	caused	by	changes	in	market	interest	rates.		Examples	of	derivative	instruments	that	we	may	use	as	part	of	our	interest	rate	risk	management	strategy	include	interest	rate	swaps,	interest	rate	floors,	interest	rate	caps,	forward	contracts,	and	forward	starting	interest	rate	swaps.		Huntington	has	entered	into	a	number	of	interest	rate	derivative	contracts	to	manage	our	interest	rate	risk	position	which	are	economic	hedges	(i.e.,	do	not	receive	hedge	accounting	treatment).		The	impact	of	changes	in	the	fair	value	of	derivatives	designated	as	economic	hedges	are	reported	in	current	period	earnings.		While	these	interest	rate	derivatives	are	used	to	reduce	the	long-term	interest	rate	sensitivity,	these	economic	hedges	can	result	in	short-term	volatility	in	net	interest	income	as	a	result	of	the	changes	in	interest	rates.		Table	18	shows	all	swap,	floor	and	cap	positions	that	are	utilized	for	purposes	of	managing	our	exposures	to	the	variability	of	interest	rates.		These	positions	are	used	to	convert	the	contractual	interest	rate	index	of	agreed-upon	amounts	of	assets	and	liabilities	(i.e.,	notional	amounts)	to	another	interest	rate	index	or	to	hedge	forecasted	transactions	for	the	variability	in	cash	flows	attributable	to	the	contractually	specified	interest	rate.		The	volume,	maturity	and	mix	of	portfolio	derivative	positions	change	frequently	as	we	adjust	our	broader	interest	rate	risk	management	objectives	and	the	balance	sheet	positions	to	be	hedged.		For	further	information,	including	the	notional	amount	and	fair	values	of	these	derivatives,	refer	to	Note	21	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements.		76					Huntington	Bancshares	IncorporatedThe	following	table	presents	additional	information	about	the	interest	rate	swaps,	floors	and	caps	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019.Table	18	-	Weighted-Average	Maturity,	Receive	Rate	and	LIBOR	Reset	Rate	on	Asset	Liability	Management	InstrumentsDecember	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	6,525		2.03	$	231		1.81	%	0.15	%Pay	Fixed	-	Receive	1	month	LIBOR	(1)	3,076		1.99		3		0.17		0.15	Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(2)	750		3.29		23		1.24		—	Pay	Fixed	-	Receive	1	month	LIBOR	-	forward	starting	(3)	408		9.08		2		0.68		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,397		2.02		262		2.28		0.15	Receive	Fixed	-	Pay	3	month	LIBOR	800		0.21		5		1.31		0.22	Basis	swapsPay	SOFR-	Receive	Fed	Fund	(economic	hedges)	(4)$	230	4.66$	—		0.09		0.10	Pay	Fed	Fund	-	Receive	SOFR	(economic	hedges)	(4)	41		1.98		—		0.09		0.09	Total	swap	portfolio$	17,227	$	526	December	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	7,200		0.37	$	59		1.81	%	0.15	%Purchased	Floor	Spread	-	1	month	LIBOR	400		1.74		7	2.50	/	1.50	0.15	Purchased	Floor	Spread	-	1	month	LIBOR	forward	starting	(5)	2,500		3.72		76	1.65	/	0.70	—	Purchased	Floor	Spread	-	1	month	LIBOR	(economic	hedges)	1,000	2.29	18	1.75	/	1.00	0.16	Interest	rate	capsPurchased	Cap	-	1	month	LIBOR	(economic	hedges)	5,000	6.91	91		0.98		0.15	Total	floors	portfolio$	16,100	$	251	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	5,387		2.87	$	51		1.89	%1.73%Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(6)	3,250		4.02		(28)		1.32		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,250		2.97		146		2.37		1.72	Receive	Fixed	-	Pay	3	month	LIBOR	2,290		0.84		5		1.80		1.94	Total	swap	portfolio$	16,177	$	174	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	9,200		1.45	$	36		1.84	%	1.54	%Purchased	Floor	Spread	-	1	month	LIBOR	400		2.74		8	2.50	/	1.50	1.79	Purchased	Floor	Spread	-	1	month	LIBOR	-	forward	starting	(7)	150	4.34	2	1.75	/	1.00	—	Total	floors	portfolio$	9,750	$	46	(1)Amounts	include	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.(2)Forward	starting	swaps	will	become	effective	April	2021.(3)Forward	starting	swaps	will	become	effective	from	January	2021	to	May	2021.(4)Swaps	have	variable	pay	and	variable	receive	resets.	Weighted	Average	Fixed	Rate	column	represents	pay	rate	reset.(5)Forward	starting	floor	spreads	will	become	effective	from	March	2021	to	June	2021.	(6)Forward	starting	swaps	will	become	effective	from	January	2020	to	June	2021.(7)Forward	starting	floors	will	become	effective	from	March	2021	to	June	2021.	2020	Form	10-K					77providing	periodic	updates	to	the	ROC.		In	reviewing	the	contract	fallback	language,	certain	contracts	were	identified	as	needing	updated	provisions	for	transition.		The	LIBOR	transition	team	is	coordinating	remediation,	where	necessary.		Our	technology	team	has	undertaken	core	loan	servicing	system	projects	to	support	alternative	reference	rates	with	some	already	operational	and	others	with	target	project	completion	dates	in	the	first	half	of	2021.		Additionally,	we	have	developed	a	SOFR-enabled	interest	rate	risk	monitoring	framework	and	a	strategy	for	managing	interest	rate	risk	during	the	transition	from	LIBOR	to	SOFR.		During	the	fourth	quarter	of	2020,	Huntington	began	indexing	new	retail	adjustable	rate	mortgages	to	SOFR	(Secured	Overnight	Funding	Rate).		We	continue	to	monitor	market	developments	and	regulatory	updates,	including	the	recent	announcements	from	the	ICE	Benchmark	Administrator	to	extend	the	cessation	date	for	several	USD	LIBOR	tenors	to	June	30,	2023.		For	a	discussion	of	the	risks	associated	with	the	LIBOR	transition	to	alternative	reference	rates,	refer	to	"Item	1A:	Risk	Factors.”	Use	of	Derivatives	to	Manage	Interest	Rate	RiskAn	integral	component	of	our	interest	rate	risk	management	strategy	is	the	use	of	derivative	instruments	to	minimize	significant	fluctuations	in	earnings	caused	by	changes	in	market	interest	rates.		Examples	of	derivative	instruments	that	we	may	use	as	part	of	our	interest	rate	risk	management	strategy	include	interest	rate	swaps,	interest	rate	floors,	interest	rate	caps,	forward	contracts,	and	forward	starting	interest	rate	swaps.		Huntington	has	entered	into	a	number	of	interest	rate	derivative	contracts	to	manage	our	interest	rate	risk	position	which	are	economic	hedges	(i.e.,	do	not	receive	hedge	accounting	treatment).		The	impact	of	changes	in	the	fair	value	of	derivatives	designated	as	economic	hedges	are	reported	in	current	period	earnings.		While	these	interest	rate	derivatives	are	used	to	reduce	the	long-term	interest	rate	sensitivity,	these	economic	hedges	can	result	in	short-term	volatility	in	net	interest	income	as	a	result	of	the	changes	in	interest	rates.		Table	18	shows	all	swap,	floor	and	cap	positions	that	are	utilized	for	purposes	of	managing	our	exposures	to	the	variability	of	interest	rates.		These	positions	are	used	to	convert	the	contractual	interest	rate	index	of	agreed-upon	amounts	of	assets	and	liabilities	(i.e.,	notional	amounts)	to	another	interest	rate	index	or	to	hedge	forecasted	transactions	for	the	variability	in	cash	flows	attributable	to	the	contractually	specified	interest	rate.		The	volume,	maturity	and	mix	of	portfolio	derivative	positions	change	frequently	as	we	adjust	our	broader	interest	rate	risk	management	objectives	and	the	balance	sheet	positions	to	be	hedged.		For	further	information,	including	the	notional	amount	and	fair	values	of	these	derivatives,	refer	to	Note	21	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements.		76					Huntington	Bancshares	IncorporatedThe	following	table	presents	additional	information	about	the	interest	rate	swaps,	floors	and	caps	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019.Table	18	-	Weighted-Average	Maturity,	Receive	Rate	and	LIBOR	Reset	Rate	on	Asset	Liability	Management	InstrumentsDecember	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	6,525		2.03	$	231		1.81	%	0.15	%Pay	Fixed	-	Receive	1	month	LIBOR	(1)	3,076		1.99		3		0.17		0.15	Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(2)	750		3.29		23		1.24		—	Pay	Fixed	-	Receive	1	month	LIBOR	-	forward	starting	(3)	408		9.08		2		0.68		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,397		2.02		262		2.28		0.15	Receive	Fixed	-	Pay	3	month	LIBOR	800		0.21		5		1.31		0.22	Basis	swapsPay	SOFR-	Receive	Fed	Fund	(economic	hedges)	(4)$	230	4.66$	—		0.09		0.10	Pay	Fed	Fund	-	Receive	SOFR	(economic	hedges)	(4)	41		1.98		—		0.09		0.09	Total	swap	portfolio$	17,227	$	526	December	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	7,200		0.37	$	59		1.81	%	0.15	%Purchased	Floor	Spread	-	1	month	LIBOR	400		1.74		7	2.50	/	1.50	0.15	Purchased	Floor	Spread	-	1	month	LIBOR	forward	starting	(5)	2,500		3.72		76	1.65	/	0.70	—	Purchased	Floor	Spread	-	1	month	LIBOR	(economic	hedges)	1,000	2.29	18	1.75	/	1.00	0.16	Interest	rate	capsPurchased	Cap	-	1	month	LIBOR	(economic	hedges)	5,000	6.91	91		0.98		0.15	Total	floors	portfolio$	16,100	$	251	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	5,387		2.87	$	51		1.89	%1.73%Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(6)	3,250		4.02		(28)		1.32		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,250		2.97		146		2.37		1.72	Receive	Fixed	-	Pay	3	month	LIBOR	2,290		0.84		5		1.80		1.94	Total	swap	portfolio$	16,177	$	174	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	9,200		1.45	$	36		1.84	%	1.54	%Purchased	Floor	Spread	-	1	month	LIBOR	400		2.74		8	2.50	/	1.50	1.79	Purchased	Floor	Spread	-	1	month	LIBOR	-	forward	starting	(7)	150	4.34	2	1.75	/	1.00	—	Total	floors	portfolio$	9,750	$	46	(1)Amounts	include	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.(2)Forward	starting	swaps	will	become	effective	April	2021.(3)Forward	starting	swaps	will	become	effective	from	January	2021	to	May	2021.(4)Swaps	have	variable	pay	and	variable	receive	resets.	Weighted	Average	Fixed	Rate	column	represents	pay	rate	reset.(5)Forward	starting	floor	spreads	will	become	effective	from	March	2021	to	June	2021.	(6)Forward	starting	swaps	will	become	effective	from	January	2020	to	June	2021.(7)Forward	starting	floors	will	become	effective	from	March	2021	to	June	2021.	2020	Form	10-K					77providing	periodic	updates	to	the	ROC.		In	reviewing	the	contract	fallback	language,	certain	contracts	were	identified	as	needing	updated	provisions	for	transition.		The	LIBOR	transition	team	is	coordinating	remediation,	where	necessary.		Our	technology	team	has	undertaken	core	loan	servicing	system	projects	to	support	alternative	reference	rates	with	some	already	operational	and	others	with	target	project	completion	dates	in	the	first	half	of	2021.		Additionally,	we	have	developed	a	SOFR-enabled	interest	rate	risk	monitoring	framework	and	a	strategy	for	managing	interest	rate	risk	during	the	transition	from	LIBOR	to	SOFR.		During	the	fourth	quarter	of	2020,	Huntington	began	indexing	new	retail	adjustable	rate	mortgages	to	SOFR	(Secured	Overnight	Funding	Rate).		We	continue	to	monitor	market	developments	and	regulatory	updates,	including	the	recent	announcements	from	the	ICE	Benchmark	Administrator	to	extend	the	cessation	date	for	several	USD	LIBOR	tenors	to	June	30,	2023.		For	a	discussion	of	the	risks	associated	with	the	LIBOR	transition	to	alternative	reference	rates,	refer	to	"Item	1A:	Risk	Factors.”	Use	of	Derivatives	to	Manage	Interest	Rate	RiskAn	integral	component	of	our	interest	rate	risk	management	strategy	is	the	use	of	derivative	instruments	to	minimize	significant	fluctuations	in	earnings	caused	by	changes	in	market	interest	rates.		Examples	of	derivative	instruments	that	we	may	use	as	part	of	our	interest	rate	risk	management	strategy	include	interest	rate	swaps,	interest	rate	floors,	interest	rate	caps,	forward	contracts,	and	forward	starting	interest	rate	swaps.		Huntington	has	entered	into	a	number	of	interest	rate	derivative	contracts	to	manage	our	interest	rate	risk	position	which	are	economic	hedges	(i.e.,	do	not	receive	hedge	accounting	treatment).		The	impact	of	changes	in	the	fair	value	of	derivatives	designated	as	economic	hedges	are	reported	in	current	period	earnings.		While	these	interest	rate	derivatives	are	used	to	reduce	the	long-term	interest	rate	sensitivity,	these	economic	hedges	can	result	in	short-term	volatility	in	net	interest	income	as	a	result	of	the	changes	in	interest	rates.		Table	18	shows	all	swap,	floor	and	cap	positions	that	are	utilized	for	purposes	of	managing	our	exposures	to	the	variability	of	interest	rates.		These	positions	are	used	to	convert	the	contractual	interest	rate	index	of	agreed-upon	amounts	of	assets	and	liabilities	(i.e.,	notional	amounts)	to	another	interest	rate	index	or	to	hedge	forecasted	transactions	for	the	variability	in	cash	flows	attributable	to	the	contractually	specified	interest	rate.		The	volume,	maturity	and	mix	of	portfolio	derivative	positions	change	frequently	as	we	adjust	our	broader	interest	rate	risk	management	objectives	and	the	balance	sheet	positions	to	be	hedged.		For	further	information,	including	the	notional	amount	and	fair	values	of	these	derivatives,	refer	to	Note	21	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements.		76					Huntington	Bancshares	IncorporatedThe	following	table	presents	additional	information	about	the	interest	rate	swaps,	floors	and	caps	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019.Table	18	-	Weighted-Average	Maturity,	Receive	Rate	and	LIBOR	Reset	Rate	on	Asset	Liability	Management	InstrumentsDecember	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	6,525		2.03	$	231		1.81	%	0.15	%Pay	Fixed	-	Receive	1	month	LIBOR	(1)	3,076		1.99		3		0.17		0.15	Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(2)	750		3.29		23		1.24		—	Pay	Fixed	-	Receive	1	month	LIBOR	-	forward	starting	(3)	408		9.08		2		0.68		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,397		2.02		262		2.28		0.15	Receive	Fixed	-	Pay	3	month	LIBOR	800		0.21		5		1.31		0.22	Basis	swapsPay	SOFR-	Receive	Fed	Fund	(economic	hedges)	(4)$	230	4.66$	—		0.09		0.10	Pay	Fed	Fund	-	Receive	SOFR	(economic	hedges)	(4)	41		1.98		—		0.09		0.09	Total	swap	portfolio$	17,227	$	526	December	31,	2020Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	7,200		0.37	$	59		1.81	%	0.15	%Purchased	Floor	Spread	-	1	month	LIBOR	400		1.74		7	2.50	/	1.50	0.15	Purchased	Floor	Spread	-	1	month	LIBOR	forward	starting	(5)	2,500		3.72		76	1.65	/	0.70	—	Purchased	Floor	Spread	-	1	month	LIBOR	(economic	hedges)	1,000	2.29	18	1.75	/	1.00	0.16	Interest	rate	capsPurchased	Cap	-	1	month	LIBOR	(economic	hedges)	5,000	6.91	91		0.98		0.15	Total	floors	portfolio$	16,100	$	251	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFixed	RateWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Asset	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR$	5,387		2.87	$	51		1.89	%1.73%Receive	Fixed	-	Pay	1	month	LIBOR	-	forward	starting	(6)	3,250		4.02		(28)		1.32		—	Liability	conversion	swapsReceive	Fixed	-	Pay	1	month	LIBOR	5,250		2.97		146		2.37		1.72	Receive	Fixed	-	Pay	3	month	LIBOR	2,290		0.84		5		1.80		1.94	Total	swap	portfolio$	16,177	$	174	December	31,	2019Notional	Value	Average	Maturity	(years)Fair	ValueWeighted-AverageFloor	StrikeWeighted-Average	Reset	Rate(dollar	amounts	in	millions)Interest	rate	floorsPurchased	Interest	Rate	Floors	-	1	month	LIBOR$	9,200		1.45	$	36		1.84	%	1.54	%Purchased	Floor	Spread	-	1	month	LIBOR	400		2.74		8	2.50	/	1.50	1.79	Purchased	Floor	Spread	-	1	month	LIBOR	-	forward	starting	(7)	150	4.34	2	1.75	/	1.00	—	Total	floors	portfolio$	9,750	$	46	(1)Amounts	include	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.(2)Forward	starting	swaps	will	become	effective	April	2021.(3)Forward	starting	swaps	will	become	effective	from	January	2021	to	May	2021.(4)Swaps	have	variable	pay	and	variable	receive	resets.	Weighted	Average	Fixed	Rate	column	represents	pay	rate	reset.(5)Forward	starting	floor	spreads	will	become	effective	from	March	2021	to	June	2021.	(6)Forward	starting	swaps	will	become	effective	from	January	2020	to	June	2021.(7)Forward	starting	floors	will	become	effective	from	March	2021	to	June	2021.	2020	Form	10-K					77MSRs(This	section	should	be	read	in	conjunction	with	Note	7	-	“Mortgage	Loan	Sales	and	Servicing	Rights”	of	Notes	to	Consolidated	Financial	Statements.)On	January	1,	2020,	Huntington	made	an	irrevocable	election	to	subsequently	measure	all	classes	of	residential	MSRs	at	fair	value	in	order	to	eliminate	any	potential	measurement	mismatch	between	our	economic	hedges	and	the	MSRs.		The	impact	of	the	irrevocable	election	was	not	material.At	December	31,	2020,	we	had	a	total	of	$210	million	of	capitalized	MSRs	representing	the	right	to	service	$23	billion	in	mortgage	loans.		MSR	fair	values	are	sensitive	to	movements	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.		We	also	employ	hedging	strategies	to	reduce	the	risk	of	MSR	fair	value	changes	or	impairment.		However,	volatile	changes	in	interest	rates	can	diminish	the	effectiveness	of	these	economic	hedges.		We	report	changes	in	the	MSR	value	net	of	hedge-related	trading	activity	in	the	mortgage	banking	income	category	of	noninterest	income.		MSR	assets	are	included	in	servicing	rights	and	other	intangible	assets	in	the	Consolidated	Financial	Statements.Price	RiskPrice	risk	represents	the	risk	of	loss	arising	from	adverse	movements	in	the	prices	of	financial	instruments	that	are	carried	at	fair	value	and	are	subject	to	fair	value	accounting.		We	have	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	derivative	instruments,	and	equity	investments.		We	have	established	loss	limits	on	the	trading	portfolio,	on	the	amount	of	foreign	exchange	exposure	that	can	be	maintained,	and	on	the	amount	of	marketable	equity	securities	that	can	be	held.		Liquidity	Risk	Liquidity	risk	is	the	possibility	of	us	being	unable	to	meet	current	and	future	financial	obligations	in	a	timely	manner.		Liquidity	is	managed	to	ensure	stable,	reliable,	and	cost-effective	sources	of	funds	to	satisfy	demand	for	credit,	deposit	withdrawals	and	investment	opportunities.		We	consider	core	earnings,	strong	capital	ratios,	and	credit	quality	essential	for	maintaining	high	credit	ratings,	which	allows	us	cost-effective	access	to	market-based	liquidity.		We	rely	on	a	large,	stable	core	deposit	base	and	a	diversified	base	of	wholesale	funding	sources	to	manage	liquidity	risk.		The	ALCO	is	appointed	by	the	ROC	to	oversee	liquidity	risk	management	and	the	establishment	of	liquidity	risk	policies	and	limits.		Liquidity	Risk	is	managed	centrally	by	Corporate	Treasury.		The	position	is	evaluated	daily,	weekly,	and	monthly	by	analyzing	the	composition	of	all	funding	sources,	reviewing	projected	liquidity	commitments	by	future	months,	and	identifying	sources	and	uses	of	funds.		The	overall	management	of	our	liquidity	position	is	also	integrated	into	retail	and	commercial	pricing	policies	to	ensure	a	stable	core	deposit	base.		Liquidity	risk	is	reviewed	and	managed	continuously	for	the	Bank	and	the	parent	company,	as	well	as	its	subsidiaries.		In	addition,	liquidity	working	groups	meet	regularly	to	identify	and	monitor	liquidity	positions,	provide	policy	guidance,	review	funding	strategies,	and	oversee	the	adherence	to,	and	maintenance	of,	the	contingency	funding	plans.Our	primary	source	of	liquidity	is	our	core	deposit	base.		Core	deposits	comprised	approximately	96%	of	total	deposits	at	December	31,	2020.		We	also	have	available	unused	wholesale	sources	of	liquidity,	including	advances	from	the	FHLB,	issuance	through	dealers	in	the	capital	markets,	and	access	to	certificates	of	deposit	issued	through	brokers.		Liquidity	is	further	provided	by	unencumbered,	or	unpledged,	investment	securities	that	totaled	$10.8	billion	as	of	December	31,	2020.		The	treasury	department	also	prepares	a	contingency	funding	plan	that	details	the	potential	erosion	of	funds	in	the	event	of	a	systemic	financial	market	crisis	or	institutional-specific	stress	scenario.		An	example	of	an	institution	specific	event	would	be	a	downgrade	in	our	public	credit	rating	by	a	rating	agency	due	to	factors	such	as	deterioration	in	asset	quality,	a	large	charge	to	earnings,	a	decline	in	profitability	or	other	financial	measures,	or	a	significant	merger	or	acquisition.		Examples	of	systemic	events	unrelated	to	us	that	could	have	an	effect	on	our	access	to	liquidity	would	be	terrorism	or	war,	natural	disasters,	political	events,	or	the	default	or	bankruptcy	of	a	major	corporation,	mutual	fund	or	hedge	fund.		Similarly,	market	speculation	or	rumors	about	us,	or	the	banking	industry	in	general,	may	adversely	affect	the	cost	and	availability	of	normal	funding	sources.		The	liquidity	contingency	plan	therefore	outlines	the	process	for	addressing	a	liquidity	crisis.		The	plan	provides	for	an	78					Huntington	Bancshares	Incorporatedevaluation	of	funding	sources	under	various	market	conditions.		It	also	assigns	specific	roles	and	responsibilities	and	communication	protocols	for	effectively	managing	liquidity	through	a	problem	period.	During	2020,	Huntington	heightened	its	overall	liquidity	risk	management	process,	including	additional	communication,	monitoring,	and	reporting,	given	changes	in	the	economic	environment	as	a	result	of	COVID-19.		Overnight	funding	markets	continue	to	demonstrate	ample	liquidity	with	the	ability	to	obtain	short-term	funding.		We	continue	to	closely	monitor	wholesale	funding	markets	and	all	government	sponsored	programs	in	relation	to	Huntington’s	liquidity	position.		Investment	securities	portfolio(This	section	should	be	read	in	conjunction	with	Note	4	-	“Investment	Securities	and	Other	Securities”	of	the	Notes	to	Consolidated	Financial	Statements.)Our	investment	securities	portfolio	is	evaluated	under	established	ALCO	objectives.		Changing	market	conditions	could	affect	the	profitability	of	the	portfolio,	as	well	as	the	level	of	interest	rate	risk	exposure.The	composition	and	contractual	maturity	of	the	portfolio	is	presented	on	the	following	two	tables:Table	19	-	Investment	Securities	and	Other	Securities	Portfolio	Summary(dollar	amounts	in	millions)At	December	31,Available-for-sale	securities,	at	fair	value:202020192018U.S.	Treasury,	Federal	agency,	and	other	agency	securities$	12,831	$	10,458	$	9,968	Municipal	securities	3,004		3,055		3,440	Other	650		636		372	Total	available-for-sale	securities$	16,485	$	14,149	$	13,780	Held-to-maturity	securities,	at	cost:Federal	agency	and	other	agency	securities$	8,858	$	9,066	$	8,560	Municipal	securities	3		4		5	Total	held-to-maturity	securities$	8,861	$	9,070	$	8,565	Other	securities:Other	securities,	at	cost:Non-marketable	equity	securities	(1)$	359	$	387	$	543	Other	securities,	at	fair	value:Mutual	Funds	50		53		20	Marketable	equity	securities	9		1		2	Total	other	securities$	418	$	441	$	565	Duration	in	years	(2)	3.4	4.54.3(1)Consists	of	FHLB	and	FRB	restricted	stock	holdings	carried	at	par.	(2)The	average	duration	assumes	a	market	driven	prepayment	rate	on	securities	subject	to	prepayment.2020	Form	10-K					79MSRs(This	section	should	be	read	in	conjunction	with	Note	7	-	“Mortgage	Loan	Sales	and	Servicing	Rights”	of	Notes	to	Consolidated	Financial	Statements.)On	January	1,	2020,	Huntington	made	an	irrevocable	election	to	subsequently	measure	all	classes	of	residential	MSRs	at	fair	value	in	order	to	eliminate	any	potential	measurement	mismatch	between	our	economic	hedges	and	the	MSRs.		The	impact	of	the	irrevocable	election	was	not	material.At	December	31,	2020,	we	had	a	total	of	$210	million	of	capitalized	MSRs	representing	the	right	to	service	$23	billion	in	mortgage	loans.		MSR	fair	values	are	sensitive	to	movements	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.		We	also	employ	hedging	strategies	to	reduce	the	risk	of	MSR	fair	value	changes	or	impairment.		However,	volatile	changes	in	interest	rates	can	diminish	the	effectiveness	of	these	economic	hedges.		We	report	changes	in	the	MSR	value	net	of	hedge-related	trading	activity	in	the	mortgage	banking	income	category	of	noninterest	income.		MSR	assets	are	included	in	servicing	rights	and	other	intangible	assets	in	the	Consolidated	Financial	Statements.Price	RiskPrice	risk	represents	the	risk	of	loss	arising	from	adverse	movements	in	the	prices	of	financial	instruments	that	are	carried	at	fair	value	and	are	subject	to	fair	value	accounting.		We	have	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	derivative	instruments,	and	equity	investments.		We	have	established	loss	limits	on	the	trading	portfolio,	on	the	amount	of	foreign	exchange	exposure	that	can	be	maintained,	and	on	the	amount	of	marketable	equity	securities	that	can	be	held.		Liquidity	Risk	Liquidity	risk	is	the	possibility	of	us	being	unable	to	meet	current	and	future	financial	obligations	in	a	timely	manner.		Liquidity	is	managed	to	ensure	stable,	reliable,	and	cost-effective	sources	of	funds	to	satisfy	demand	for	credit,	deposit	withdrawals	and	investment	opportunities.		We	consider	core	earnings,	strong	capital	ratios,	and	credit	quality	essential	for	maintaining	high	credit	ratings,	which	allows	us	cost-effective	access	to	market-based	liquidity.		We	rely	on	a	large,	stable	core	deposit	base	and	a	diversified	base	of	wholesale	funding	sources	to	manage	liquidity	risk.		The	ALCO	is	appointed	by	the	ROC	to	oversee	liquidity	risk	management	and	the	establishment	of	liquidity	risk	policies	and	limits.		Liquidity	Risk	is	managed	centrally	by	Corporate	Treasury.		The	position	is	evaluated	daily,	weekly,	and	monthly	by	analyzing	the	composition	of	all	funding	sources,	reviewing	projected	liquidity	commitments	by	future	months,	and	identifying	sources	and	uses	of	funds.		The	overall	management	of	our	liquidity	position	is	also	integrated	into	retail	and	commercial	pricing	policies	to	ensure	a	stable	core	deposit	base.		Liquidity	risk	is	reviewed	and	managed	continuously	for	the	Bank	and	the	parent	company,	as	well	as	its	subsidiaries.		In	addition,	liquidity	working	groups	meet	regularly	to	identify	and	monitor	liquidity	positions,	provide	policy	guidance,	review	funding	strategies,	and	oversee	the	adherence	to,	and	maintenance	of,	the	contingency	funding	plans.Our	primary	source	of	liquidity	is	our	core	deposit	base.		Core	deposits	comprised	approximately	96%	of	total	deposits	at	December	31,	2020.		We	also	have	available	unused	wholesale	sources	of	liquidity,	including	advances	from	the	FHLB,	issuance	through	dealers	in	the	capital	markets,	and	access	to	certificates	of	deposit	issued	through	brokers.		Liquidity	is	further	provided	by	unencumbered,	or	unpledged,	investment	securities	that	totaled	$10.8	billion	as	of	December	31,	2020.		The	treasury	department	also	prepares	a	contingency	funding	plan	that	details	the	potential	erosion	of	funds	in	the	event	of	a	systemic	financial	market	crisis	or	institutional-specific	stress	scenario.		An	example	of	an	institution	specific	event	would	be	a	downgrade	in	our	public	credit	rating	by	a	rating	agency	due	to	factors	such	as	deterioration	in	asset	quality,	a	large	charge	to	earnings,	a	decline	in	profitability	or	other	financial	measures,	or	a	significant	merger	or	acquisition.		Examples	of	systemic	events	unrelated	to	us	that	could	have	an	effect	on	our	access	to	liquidity	would	be	terrorism	or	war,	natural	disasters,	political	events,	or	the	default	or	bankruptcy	of	a	major	corporation,	mutual	fund	or	hedge	fund.		Similarly,	market	speculation	or	rumors	about	us,	or	the	banking	industry	in	general,	may	adversely	affect	the	cost	and	availability	of	normal	funding	sources.		The	liquidity	contingency	plan	therefore	outlines	the	process	for	addressing	a	liquidity	crisis.		The	plan	provides	for	an	78					Huntington	Bancshares	Incorporatedevaluation	of	funding	sources	under	various	market	conditions.		It	also	assigns	specific	roles	and	responsibilities	and	communication	protocols	for	effectively	managing	liquidity	through	a	problem	period.	During	2020,	Huntington	heightened	its	overall	liquidity	risk	management	process,	including	additional	communication,	monitoring,	and	reporting,	given	changes	in	the	economic	environment	as	a	result	of	COVID-19.		Overnight	funding	markets	continue	to	demonstrate	ample	liquidity	with	the	ability	to	obtain	short-term	funding.		We	continue	to	closely	monitor	wholesale	funding	markets	and	all	government	sponsored	programs	in	relation	to	Huntington’s	liquidity	position.		Investment	securities	portfolio(This	section	should	be	read	in	conjunction	with	Note	4	-	“Investment	Securities	and	Other	Securities”	of	the	Notes	to	Consolidated	Financial	Statements.)Our	investment	securities	portfolio	is	evaluated	under	established	ALCO	objectives.		Changing	market	conditions	could	affect	the	profitability	of	the	portfolio,	as	well	as	the	level	of	interest	rate	risk	exposure.The	composition	and	contractual	maturity	of	the	portfolio	is	presented	on	the	following	two	tables:Table	19	-	Investment	Securities	and	Other	Securities	Portfolio	Summary(dollar	amounts	in	millions)At	December	31,Available-for-sale	securities,	at	fair	value:202020192018U.S.	Treasury,	Federal	agency,	and	other	agency	securities$	12,831	$	10,458	$	9,968	Municipal	securities	3,004		3,055		3,440	Other	650		636		372	Total	available-for-sale	securities$	16,485	$	14,149	$	13,780	Held-to-maturity	securities,	at	cost:Federal	agency	and	other	agency	securities$	8,858	$	9,066	$	8,560	Municipal	securities	3		4		5	Total	held-to-maturity	securities$	8,861	$	9,070	$	8,565	Other	securities:Other	securities,	at	cost:Non-marketable	equity	securities	(1)$	359	$	387	$	543	Other	securities,	at	fair	value:Mutual	Funds	50		53		20	Marketable	equity	securities	9		1		2	Total	other	securities$	418	$	441	$	565	Duration	in	years	(2)	3.4	4.54.3(1)Consists	of	FHLB	and	FRB	restricted	stock	holdings	carried	at	par.	(2)The	average	duration	assumes	a	market	driven	prepayment	rate	on	securities	subject	to	prepayment.2020	Form	10-K					79MSRs(This	section	should	be	read	in	conjunction	with	Note	7	-	“Mortgage	Loan	Sales	and	Servicing	Rights”	of	Notes	to	Consolidated	Financial	Statements.)On	January	1,	2020,	Huntington	made	an	irrevocable	election	to	subsequently	measure	all	classes	of	residential	MSRs	at	fair	value	in	order	to	eliminate	any	potential	measurement	mismatch	between	our	economic	hedges	and	the	MSRs.		The	impact	of	the	irrevocable	election	was	not	material.At	December	31,	2020,	we	had	a	total	of	$210	million	of	capitalized	MSRs	representing	the	right	to	service	$23	billion	in	mortgage	loans.		MSR	fair	values	are	sensitive	to	movements	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.		We	also	employ	hedging	strategies	to	reduce	the	risk	of	MSR	fair	value	changes	or	impairment.		However,	volatile	changes	in	interest	rates	can	diminish	the	effectiveness	of	these	economic	hedges.		We	report	changes	in	the	MSR	value	net	of	hedge-related	trading	activity	in	the	mortgage	banking	income	category	of	noninterest	income.		MSR	assets	are	included	in	servicing	rights	and	other	intangible	assets	in	the	Consolidated	Financial	Statements.Price	RiskPrice	risk	represents	the	risk	of	loss	arising	from	adverse	movements	in	the	prices	of	financial	instruments	that	are	carried	at	fair	value	and	are	subject	to	fair	value	accounting.		We	have	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	derivative	instruments,	and	equity	investments.		We	have	established	loss	limits	on	the	trading	portfolio,	on	the	amount	of	foreign	exchange	exposure	that	can	be	maintained,	and	on	the	amount	of	marketable	equity	securities	that	can	be	held.		Liquidity	Risk	Liquidity	risk	is	the	possibility	of	us	being	unable	to	meet	current	and	future	financial	obligations	in	a	timely	manner.		Liquidity	is	managed	to	ensure	stable,	reliable,	and	cost-effective	sources	of	funds	to	satisfy	demand	for	credit,	deposit	withdrawals	and	investment	opportunities.		We	consider	core	earnings,	strong	capital	ratios,	and	credit	quality	essential	for	maintaining	high	credit	ratings,	which	allows	us	cost-effective	access	to	market-based	liquidity.		We	rely	on	a	large,	stable	core	deposit	base	and	a	diversified	base	of	wholesale	funding	sources	to	manage	liquidity	risk.		The	ALCO	is	appointed	by	the	ROC	to	oversee	liquidity	risk	management	and	the	establishment	of	liquidity	risk	policies	and	limits.		Liquidity	Risk	is	managed	centrally	by	Corporate	Treasury.		The	position	is	evaluated	daily,	weekly,	and	monthly	by	analyzing	the	composition	of	all	funding	sources,	reviewing	projected	liquidity	commitments	by	future	months,	and	identifying	sources	and	uses	of	funds.		The	overall	management	of	our	liquidity	position	is	also	integrated	into	retail	and	commercial	pricing	policies	to	ensure	a	stable	core	deposit	base.		Liquidity	risk	is	reviewed	and	managed	continuously	for	the	Bank	and	the	parent	company,	as	well	as	its	subsidiaries.		In	addition,	liquidity	working	groups	meet	regularly	to	identify	and	monitor	liquidity	positions,	provide	policy	guidance,	review	funding	strategies,	and	oversee	the	adherence	to,	and	maintenance	of,	the	contingency	funding	plans.Our	primary	source	of	liquidity	is	our	core	deposit	base.		Core	deposits	comprised	approximately	96%	of	total	deposits	at	December	31,	2020.		We	also	have	available	unused	wholesale	sources	of	liquidity,	including	advances	from	the	FHLB,	issuance	through	dealers	in	the	capital	markets,	and	access	to	certificates	of	deposit	issued	through	brokers.		Liquidity	is	further	provided	by	unencumbered,	or	unpledged,	investment	securities	that	totaled	$10.8	billion	as	of	December	31,	2020.		The	treasury	department	also	prepares	a	contingency	funding	plan	that	details	the	potential	erosion	of	funds	in	the	event	of	a	systemic	financial	market	crisis	or	institutional-specific	stress	scenario.		An	example	of	an	institution	specific	event	would	be	a	downgrade	in	our	public	credit	rating	by	a	rating	agency	due	to	factors	such	as	deterioration	in	asset	quality,	a	large	charge	to	earnings,	a	decline	in	profitability	or	other	financial	measures,	or	a	significant	merger	or	acquisition.		Examples	of	systemic	events	unrelated	to	us	that	could	have	an	effect	on	our	access	to	liquidity	would	be	terrorism	or	war,	natural	disasters,	political	events,	or	the	default	or	bankruptcy	of	a	major	corporation,	mutual	fund	or	hedge	fund.		Similarly,	market	speculation	or	rumors	about	us,	or	the	banking	industry	in	general,	may	adversely	affect	the	cost	and	availability	of	normal	funding	sources.		The	liquidity	contingency	plan	therefore	outlines	the	process	for	addressing	a	liquidity	crisis.		The	plan	provides	for	an	78					Huntington	Bancshares	Incorporatedevaluation	of	funding	sources	under	various	market	conditions.		It	also	assigns	specific	roles	and	responsibilities	and	communication	protocols	for	effectively	managing	liquidity	through	a	problem	period.	During	2020,	Huntington	heightened	its	overall	liquidity	risk	management	process,	including	additional	communication,	monitoring,	and	reporting,	given	changes	in	the	economic	environment	as	a	result	of	COVID-19.		Overnight	funding	markets	continue	to	demonstrate	ample	liquidity	with	the	ability	to	obtain	short-term	funding.		We	continue	to	closely	monitor	wholesale	funding	markets	and	all	government	sponsored	programs	in	relation	to	Huntington’s	liquidity	position.		Investment	securities	portfolio(This	section	should	be	read	in	conjunction	with	Note	4	-	“Investment	Securities	and	Other	Securities”	of	the	Notes	to	Consolidated	Financial	Statements.)Our	investment	securities	portfolio	is	evaluated	under	established	ALCO	objectives.		Changing	market	conditions	could	affect	the	profitability	of	the	portfolio,	as	well	as	the	level	of	interest	rate	risk	exposure.The	composition	and	contractual	maturity	of	the	portfolio	is	presented	on	the	following	two	tables:Table	19	-	Investment	Securities	and	Other	Securities	Portfolio	Summary(dollar	amounts	in	millions)At	December	31,Available-for-sale	securities,	at	fair	value:202020192018U.S.	Treasury,	Federal	agency,	and	other	agency	securities$	12,831	$	10,458	$	9,968	Municipal	securities	3,004		3,055		3,440	Other	650		636		372	Total	available-for-sale	securities$	16,485	$	14,149	$	13,780	Held-to-maturity	securities,	at	cost:Federal	agency	and	other	agency	securities$	8,858	$	9,066	$	8,560	Municipal	securities	3		4		5	Total	held-to-maturity	securities$	8,861	$	9,070	$	8,565	Other	securities:Other	securities,	at	cost:Non-marketable	equity	securities	(1)$	359	$	387	$	543	Other	securities,	at	fair	value:Mutual	Funds	50		53		20	Marketable	equity	securities	9		1		2	Total	other	securities$	418	$	441	$	565	Duration	in	years	(2)	3.4	4.54.3(1)Consists	of	FHLB	and	FRB	restricted	stock	holdings	carried	at	par.	(2)The	average	duration	assumes	a	market	driven	prepayment	rate	on	securities	subject	to	prepayment.2020	Form	10-K					79MSRs(This	section	should	be	read	in	conjunction	with	Note	7	-	“Mortgage	Loan	Sales	and	Servicing	Rights”	of	Notes	to	Consolidated	Financial	Statements.)On	January	1,	2020,	Huntington	made	an	irrevocable	election	to	subsequently	measure	all	classes	of	residential	MSRs	at	fair	value	in	order	to	eliminate	any	potential	measurement	mismatch	between	our	economic	hedges	and	the	MSRs.		The	impact	of	the	irrevocable	election	was	not	material.At	December	31,	2020,	we	had	a	total	of	$210	million	of	capitalized	MSRs	representing	the	right	to	service	$23	billion	in	mortgage	loans.		MSR	fair	values	are	sensitive	to	movements	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	reduced	by	prepayments.		Prepayments	usually	increase	when	mortgage	interest	rates	decline	and	decrease	when	mortgage	interest	rates	rise.		We	also	employ	hedging	strategies	to	reduce	the	risk	of	MSR	fair	value	changes	or	impairment.		However,	volatile	changes	in	interest	rates	can	diminish	the	effectiveness	of	these	economic	hedges.		We	report	changes	in	the	MSR	value	net	of	hedge-related	trading	activity	in	the	mortgage	banking	income	category	of	noninterest	income.		MSR	assets	are	included	in	servicing	rights	and	other	intangible	assets	in	the	Consolidated	Financial	Statements.Price	RiskPrice	risk	represents	the	risk	of	loss	arising	from	adverse	movements	in	the	prices	of	financial	instruments	that	are	carried	at	fair	value	and	are	subject	to	fair	value	accounting.		We	have	price	risk	from	trading	securities,	securities	owned	by	our	broker-dealer	subsidiaries,	foreign	exchange	positions,	derivative	instruments,	and	equity	investments.		We	have	established	loss	limits	on	the	trading	portfolio,	on	the	amount	of	foreign	exchange	exposure	that	can	be	maintained,	and	on	the	amount	of	marketable	equity	securities	that	can	be	held.		Liquidity	Risk	Liquidity	risk	is	the	possibility	of	us	being	unable	to	meet	current	and	future	financial	obligations	in	a	timely	manner.		Liquidity	is	managed	to	ensure	stable,	reliable,	and	cost-effective	sources	of	funds	to	satisfy	demand	for	credit,	deposit	withdrawals	and	investment	opportunities.		We	consider	core	earnings,	strong	capital	ratios,	and	credit	quality	essential	for	maintaining	high	credit	ratings,	which	allows	us	cost-effective	access	to	market-based	liquidity.		We	rely	on	a	large,	stable	core	deposit	base	and	a	diversified	base	of	wholesale	funding	sources	to	manage	liquidity	risk.		The	ALCO	is	appointed	by	the	ROC	to	oversee	liquidity	risk	management	and	the	establishment	of	liquidity	risk	policies	and	limits.		Liquidity	Risk	is	managed	centrally	by	Corporate	Treasury.		The	position	is	evaluated	daily,	weekly,	and	monthly	by	analyzing	the	composition	of	all	funding	sources,	reviewing	projected	liquidity	commitments	by	future	months,	and	identifying	sources	and	uses	of	funds.		The	overall	management	of	our	liquidity	position	is	also	integrated	into	retail	and	commercial	pricing	policies	to	ensure	a	stable	core	deposit	base.		Liquidity	risk	is	reviewed	and	managed	continuously	for	the	Bank	and	the	parent	company,	as	well	as	its	subsidiaries.		In	addition,	liquidity	working	groups	meet	regularly	to	identify	and	monitor	liquidity	positions,	provide	policy	guidance,	review	funding	strategies,	and	oversee	the	adherence	to,	and	maintenance	of,	the	contingency	funding	plans.Our	primary	source	of	liquidity	is	our	core	deposit	base.		Core	deposits	comprised	approximately	96%	of	total	deposits	at	December	31,	2020.		We	also	have	available	unused	wholesale	sources	of	liquidity,	including	advances	from	the	FHLB,	issuance	through	dealers	in	the	capital	markets,	and	access	to	certificates	of	deposit	issued	through	brokers.		Liquidity	is	further	provided	by	unencumbered,	or	unpledged,	investment	securities	that	totaled	$10.8	billion	as	of	December	31,	2020.		The	treasury	department	also	prepares	a	contingency	funding	plan	that	details	the	potential	erosion	of	funds	in	the	event	of	a	systemic	financial	market	crisis	or	institutional-specific	stress	scenario.		An	example	of	an	institution	specific	event	would	be	a	downgrade	in	our	public	credit	rating	by	a	rating	agency	due	to	factors	such	as	deterioration	in	asset	quality,	a	large	charge	to	earnings,	a	decline	in	profitability	or	other	financial	measures,	or	a	significant	merger	or	acquisition.		Examples	of	systemic	events	unrelated	to	us	that	could	have	an	effect	on	our	access	to	liquidity	would	be	terrorism	or	war,	natural	disasters,	political	events,	or	the	default	or	bankruptcy	of	a	major	corporation,	mutual	fund	or	hedge	fund.		Similarly,	market	speculation	or	rumors	about	us,	or	the	banking	industry	in	general,	may	adversely	affect	the	cost	and	availability	of	normal	funding	sources.		The	liquidity	contingency	plan	therefore	outlines	the	process	for	addressing	a	liquidity	crisis.		The	plan	provides	for	an	78					Huntington	Bancshares	Incorporatedevaluation	of	funding	sources	under	various	market	conditions.		It	also	assigns	specific	roles	and	responsibilities	and	communication	protocols	for	effectively	managing	liquidity	through	a	problem	period.	During	2020,	Huntington	heightened	its	overall	liquidity	risk	management	process,	including	additional	communication,	monitoring,	and	reporting,	given	changes	in	the	economic	environment	as	a	result	of	COVID-19.		Overnight	funding	markets	continue	to	demonstrate	ample	liquidity	with	the	ability	to	obtain	short-term	funding.		We	continue	to	closely	monitor	wholesale	funding	markets	and	all	government	sponsored	programs	in	relation	to	Huntington’s	liquidity	position.		Investment	securities	portfolio(This	section	should	be	read	in	conjunction	with	Note	4	-	“Investment	Securities	and	Other	Securities”	of	the	Notes	to	Consolidated	Financial	Statements.)Our	investment	securities	portfolio	is	evaluated	under	established	ALCO	objectives.		Changing	market	conditions	could	affect	the	profitability	of	the	portfolio,	as	well	as	the	level	of	interest	rate	risk	exposure.The	composition	and	contractual	maturity	of	the	portfolio	is	presented	on	the	following	two	tables:Table	19	-	Investment	Securities	and	Other	Securities	Portfolio	Summary(dollar	amounts	in	millions)At	December	31,Available-for-sale	securities,	at	fair	value:202020192018U.S.	Treasury,	Federal	agency,	and	other	agency	securities$	12,831	$	10,458	$	9,968	Municipal	securities	3,004		3,055		3,440	Other	650		636		372	Total	available-for-sale	securities$	16,485	$	14,149	$	13,780	Held-to-maturity	securities,	at	cost:Federal	agency	and	other	agency	securities$	8,858	$	9,066	$	8,560	Municipal	securities	3		4		5	Total	held-to-maturity	securities$	8,861	$	9,070	$	8,565	Other	securities:Other	securities,	at	cost:Non-marketable	equity	securities	(1)$	359	$	387	$	543	Other	securities,	at	fair	value:Mutual	Funds	50		53		20	Marketable	equity	securities	9		1		2	Total	other	securities$	418	$	441	$	565	Duration	in	years	(2)	3.4	4.54.3(1)Consists	of	FHLB	and	FRB	restricted	stock	holdings	carried	at	par.	(2)The	average	duration	assumes	a	market	driven	prepayment	rate	on	securities	subject	to	prepayment.2020	Form	10-K					79Table	20	-	Investment	Securities	Portfolio	Composition	and	Contractual	MaturityAt	December	31,	2020	1	year	or	lessAfter	1	year	through	5	years	After	5	years	through	10	yearsAfter	10	yearsTotal(dollar	amounts	in	millions)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)Available-for-sale	securities,	at	fair	value:U.S.	Treasury$	—		—	%$	5		0.14	%$	—		—	%$	—		—	%$	5		0.14	%Federal	agencies:Residential	CMO	—		—		55		1.87		—		—		3,611		2.39		3,666		2.39	Residential	MBS	—		—		—		—		—		—		7,935		1.59		7,935		1.59	Commercial	MBS	—		—		—		—		—		—		1,163		2.17		1,163		2.17	Other	agencies	1		3.44		45		2.52		16		2.48		—		—		62		2.53	Total	U.S.	Treasury,	Federal	agencies	and	other	agencies	1		3.46		105		2.06		16		2.49		12,709		1.87		12,831		1.87	Municipal	securities	289		2.41		1,016		2.13		1,186		2.77		513		3.20		3,004		2.58	Private-label	CMO	—		—		4		0.54		3		2.50		2		1.73		9		1.49	Asset-backed	securities	10		1.14		2		2.74		31		1.60		149		3.64		192		3.16	Corporate	debt	1		3.30		26		1.80		418		1.78		—		—		445		1.78	Other	securities/Sovereign	debt	3		2.60		1		1.64		—		—		—		—		4		2.42	Total	available-for-sale	securities$	304		2.38	%$	1,154		2.11	%$	1,654		2.49	%$	13,373		1.94	%$	16,485		2.01	%Held-to-maturity	securities,	at	cost:Federal	agencies:Residential	CMO$	—		—	%$	25		3.07	%$	—		—	%$	1,754		2.67	%$	1,779		2.67	%Residential	MBS	—		—		—		—		—		—		3,715		2.01		3,715		2.01	Commercial	MBS	—		—		86		3.04		34		2.77		2,998		2.97		3,118		2.97	Other	agencies	—		—		49		2.47		97		2.47		100		2.53		246		2.50	Total	Federal	agencies	and	other	agencies	—		—		160		2.87		131		2.55		8,567		2.49		8,858		2.50	Municipal	securities	—		—		—		—		—		—		3		2.63		3		2.63	Total	held-to-maturity	securities$	—		—	%$	160		2.87	%$	131		2.55	%$	8,570		2.49	%$	8,861		2.50	%(1)Weighted	average	yields	were	calculated	using	amortized	cost	on	a	fully-taxable	equivalent	basis,	assuming	a	21%	tax	rate	where	applicable.Bank	Liquidity	and	Sources	of	FundingOur	primary	sources	of	funding	for	the	Bank	are	retail	and	commercial	core	deposits.		At	December	31,	2020,	these	core	deposits	funded	77%	of	total	assets	(116%	of	total	loans).		Other	sources	of	liquidity	include	non-core	deposits,	FHLB	advances,	wholesale	debt	instruments,	and	securitizations.		Demand	deposit	overdrafts	have	been	reclassified	as	loan	balances	and	were	$14	million	and	$25	million	at	December	31,	2020	and	December	31,	2019,	respectively.The	following	table	reflects	contractual	maturities	of	certain	deposits	at	December	31,	2020.Table	21	-	Maturity	Schedule	of	time	deposits,	brokered	deposits,	and	negotiable	CDsAt	December	31,	2020(dollar	amounts	in	millions)3	Monthsor	Less3	Monthsto	6	Months6	Monthsto	12	Months12	Monthsor	MoreTotalOther	domestic	time	deposits	of	$250,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,237	$	54	$	45	$	18	$	4,354	Other	domestic	time	deposits	of	$100,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,326	$	197	$	162	$	83	$	4,768	80					Huntington	Bancshares	IncorporatedThe	following	table	reflects	deposit	composition	detail	for	each	of	the	last	three	years:Table	22	-	Deposit	CompositionAt	December	31,(dollar	amounts	in	millions)202020192018	(1)By	Type:Demand	deposits—noninterest-bearing	$	28,553		29	%$	20,247		25	%$	21,783		26	%Demand	deposits—interest-bearing		26,757		27		20,583		25		20,042		24	Money	market	deposits		26,248		27		24,726		30		22,721		27	Savings	and	other	domestic	deposits	11,722		12		9,549		12		10,451		12	Core	certificates	of	deposit	(2)	1,425		1		4,356		5		5,924		7	Total	core	deposits:	94,705		96		79,461		97		80,921		96	Other	domestic	deposits	of	$250,000	or	more		131		—		313		—		337		—	Brokered	deposits	and	negotiable	CDs	4,112		4		2,573		3		3,516		4	Total	deposits$	98,948		100	%$	82,347		100	%$	84,774		100	%Total	core	deposits:Commercial$	44,698		47	%$	34,957		44	%$	37,268		46	%Consumer	50,007		53		44,504		56		43,653		54	Total	core	deposits$	94,705		100	%$	79,461		100	%$	80,921		100	%(1)December	31,	2018	includes	$210	million	of	noninterest-bearing	and	$662	million	of	interesting	bearing	deposits	classified	as	held-for-sale.(2)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.The	Bank	maintains	borrowing	capacity	at	the	FHLB	and	the	Federal	Reserve	Bank	Discount	Window.		The	Bank	does	not	consider	borrowing	capacity	from	the	Federal	Reserve	Bank	Discount	Window	as	a	primary	source	of	liquidity.		Total	loans	and	securities	pledged	to	the	Federal	Reserve	Bank	Discount	Window	and	the	FHLB	are	$53.4	billion	and	$39.6	billion	at	December	31,	2020	and	December	31,	2019,	respectively.	To	the	extent	we	are	unable	to	obtain	sufficient	liquidity	through	core	deposits,	we	may	meet	our	liquidity	needs	through	sources	of	wholesale	funding,	asset	securitization	or	sale.		Sources	of	wholesale	funding	include	other	domestic	deposits	of	$250,000	or	more,	brokered	deposits	and	negotiable	CDs,	short-term	borrowings,	and	long-term	debt.		At	December	31,	2020,	total	wholesale	funding	was	$12.8	billion,	a	decrease	from	$15.3	billion	at	December	31,	2019.		The	decrease	from	the	prior	year-end	primarily	relates	to	an	decrease	in	short-term	borrowings	and	maturity,	redemption	and	tender	of	long-term	debt,	partially	offset	by	a	increase	in	brokered	deposits	and	negotiable	CDs.At	December	31,	2020,	we	believe	the	Bank	has	sufficient	liquidity	to	meet	its	cash	flow	obligations	for	the	foreseeable	future.		Table	23	-	Maturity	Schedule	of	Commercial	LoansAt	December	31,	2020(dollar	amounts	in	millions)One	Yearor	LessOne	toFive	YearsAfterFive	YearsTotalPercentof	totalCommercial	and	industrial$	9,329	$	21,603	$	4,441	$	35,373		83	%Commercial	real	estate—construction	381		579		75		1,035		3	Commercial	real	estate—commercial	1,053		3,694		1,417		6,164		14	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Variable-interest	rates$	8,798	$	20,693	$	3,578	$	33,069		78	%Fixed-interest	rates	1,965		5,183		2,355		9,503		22	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Percent	of	total	25	%	61	%	14	%	100	%At	December	31,	2020,	the	market	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	and	security	repurchase	agreements	totaled	$14.4	billion.		There	were	no	securities	of	a	single	issuer,	which	are	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	December	31,	2020.2020	Form	10-K					81Table	20	-	Investment	Securities	Portfolio	Composition	and	Contractual	MaturityAt	December	31,	2020	1	year	or	lessAfter	1	year	through	5	years	After	5	years	through	10	yearsAfter	10	yearsTotal(dollar	amounts	in	millions)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)Available-for-sale	securities,	at	fair	value:U.S.	Treasury$	—		—	%$	5		0.14	%$	—		—	%$	—		—	%$	5		0.14	%Federal	agencies:Residential	CMO	—		—		55		1.87		—		—		3,611		2.39		3,666		2.39	Residential	MBS	—		—		—		—		—		—		7,935		1.59		7,935		1.59	Commercial	MBS	—		—		—		—		—		—		1,163		2.17		1,163		2.17	Other	agencies	1		3.44		45		2.52		16		2.48		—		—		62		2.53	Total	U.S.	Treasury,	Federal	agencies	and	other	agencies	1		3.46		105		2.06		16		2.49		12,709		1.87		12,831		1.87	Municipal	securities	289		2.41		1,016		2.13		1,186		2.77		513		3.20		3,004		2.58	Private-label	CMO	—		—		4		0.54		3		2.50		2		1.73		9		1.49	Asset-backed	securities	10		1.14		2		2.74		31		1.60		149		3.64		192		3.16	Corporate	debt	1		3.30		26		1.80		418		1.78		—		—		445		1.78	Other	securities/Sovereign	debt	3		2.60		1		1.64		—		—		—		—		4		2.42	Total	available-for-sale	securities$	304		2.38	%$	1,154		2.11	%$	1,654		2.49	%$	13,373		1.94	%$	16,485		2.01	%Held-to-maturity	securities,	at	cost:Federal	agencies:Residential	CMO$	—		—	%$	25		3.07	%$	—		—	%$	1,754		2.67	%$	1,779		2.67	%Residential	MBS	—		—		—		—		—		—		3,715		2.01		3,715		2.01	Commercial	MBS	—		—		86		3.04		34		2.77		2,998		2.97		3,118		2.97	Other	agencies	—		—		49		2.47		97		2.47		100		2.53		246		2.50	Total	Federal	agencies	and	other	agencies	—		—		160		2.87		131		2.55		8,567		2.49		8,858		2.50	Municipal	securities	—		—		—		—		—		—		3		2.63		3		2.63	Total	held-to-maturity	securities$	—		—	%$	160		2.87	%$	131		2.55	%$	8,570		2.49	%$	8,861		2.50	%(1)Weighted	average	yields	were	calculated	using	amortized	cost	on	a	fully-taxable	equivalent	basis,	assuming	a	21%	tax	rate	where	applicable.Bank	Liquidity	and	Sources	of	FundingOur	primary	sources	of	funding	for	the	Bank	are	retail	and	commercial	core	deposits.		At	December	31,	2020,	these	core	deposits	funded	77%	of	total	assets	(116%	of	total	loans).		Other	sources	of	liquidity	include	non-core	deposits,	FHLB	advances,	wholesale	debt	instruments,	and	securitizations.		Demand	deposit	overdrafts	have	been	reclassified	as	loan	balances	and	were	$14	million	and	$25	million	at	December	31,	2020	and	December	31,	2019,	respectively.The	following	table	reflects	contractual	maturities	of	certain	deposits	at	December	31,	2020.Table	21	-	Maturity	Schedule	of	time	deposits,	brokered	deposits,	and	negotiable	CDsAt	December	31,	2020(dollar	amounts	in	millions)3	Monthsor	Less3	Monthsto	6	Months6	Monthsto	12	Months12	Monthsor	MoreTotalOther	domestic	time	deposits	of	$250,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,237	$	54	$	45	$	18	$	4,354	Other	domestic	time	deposits	of	$100,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,326	$	197	$	162	$	83	$	4,768	80					Huntington	Bancshares	IncorporatedThe	following	table	reflects	deposit	composition	detail	for	each	of	the	last	three	years:Table	22	-	Deposit	CompositionAt	December	31,(dollar	amounts	in	millions)202020192018	(1)By	Type:Demand	deposits—noninterest-bearing	$	28,553		29	%$	20,247		25	%$	21,783		26	%Demand	deposits—interest-bearing		26,757		27		20,583		25		20,042		24	Money	market	deposits		26,248		27		24,726		30		22,721		27	Savings	and	other	domestic	deposits	11,722		12		9,549		12		10,451		12	Core	certificates	of	deposit	(2)	1,425		1		4,356		5		5,924		7	Total	core	deposits:	94,705		96		79,461		97		80,921		96	Other	domestic	deposits	of	$250,000	or	more		131		—		313		—		337		—	Brokered	deposits	and	negotiable	CDs	4,112		4		2,573		3		3,516		4	Total	deposits$	98,948		100	%$	82,347		100	%$	84,774		100	%Total	core	deposits:Commercial$	44,698		47	%$	34,957		44	%$	37,268		46	%Consumer	50,007		53		44,504		56		43,653		54	Total	core	deposits$	94,705		100	%$	79,461		100	%$	80,921		100	%(1)December	31,	2018	includes	$210	million	of	noninterest-bearing	and	$662	million	of	interesting	bearing	deposits	classified	as	held-for-sale.(2)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.The	Bank	maintains	borrowing	capacity	at	the	FHLB	and	the	Federal	Reserve	Bank	Discount	Window.		The	Bank	does	not	consider	borrowing	capacity	from	the	Federal	Reserve	Bank	Discount	Window	as	a	primary	source	of	liquidity.		Total	loans	and	securities	pledged	to	the	Federal	Reserve	Bank	Discount	Window	and	the	FHLB	are	$53.4	billion	and	$39.6	billion	at	December	31,	2020	and	December	31,	2019,	respectively.	To	the	extent	we	are	unable	to	obtain	sufficient	liquidity	through	core	deposits,	we	may	meet	our	liquidity	needs	through	sources	of	wholesale	funding,	asset	securitization	or	sale.		Sources	of	wholesale	funding	include	other	domestic	deposits	of	$250,000	or	more,	brokered	deposits	and	negotiable	CDs,	short-term	borrowings,	and	long-term	debt.		At	December	31,	2020,	total	wholesale	funding	was	$12.8	billion,	a	decrease	from	$15.3	billion	at	December	31,	2019.		The	decrease	from	the	prior	year-end	primarily	relates	to	an	decrease	in	short-term	borrowings	and	maturity,	redemption	and	tender	of	long-term	debt,	partially	offset	by	a	increase	in	brokered	deposits	and	negotiable	CDs.At	December	31,	2020,	we	believe	the	Bank	has	sufficient	liquidity	to	meet	its	cash	flow	obligations	for	the	foreseeable	future.		Table	23	-	Maturity	Schedule	of	Commercial	LoansAt	December	31,	2020(dollar	amounts	in	millions)One	Yearor	LessOne	toFive	YearsAfterFive	YearsTotalPercentof	totalCommercial	and	industrial$	9,329	$	21,603	$	4,441	$	35,373		83	%Commercial	real	estate—construction	381		579		75		1,035		3	Commercial	real	estate—commercial	1,053		3,694		1,417		6,164		14	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Variable-interest	rates$	8,798	$	20,693	$	3,578	$	33,069		78	%Fixed-interest	rates	1,965		5,183		2,355		9,503		22	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Percent	of	total	25	%	61	%	14	%	100	%At	December	31,	2020,	the	market	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	and	security	repurchase	agreements	totaled	$14.4	billion.		There	were	no	securities	of	a	single	issuer,	which	are	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	December	31,	2020.2020	Form	10-K					81Table	20	-	Investment	Securities	Portfolio	Composition	and	Contractual	MaturityAt	December	31,	2020	1	year	or	lessAfter	1	year	through	5	years	After	5	years	through	10	yearsAfter	10	yearsTotal(dollar	amounts	in	millions)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)Available-for-sale	securities,	at	fair	value:U.S.	Treasury$	—		—	%$	5		0.14	%$	—		—	%$	—		—	%$	5		0.14	%Federal	agencies:Residential	CMO	—		—		55		1.87		—		—		3,611		2.39		3,666		2.39	Residential	MBS	—		—		—		—		—		—		7,935		1.59		7,935		1.59	Commercial	MBS	—		—		—		—		—		—		1,163		2.17		1,163		2.17	Other	agencies	1		3.44		45		2.52		16		2.48		—		—		62		2.53	Total	U.S.	Treasury,	Federal	agencies	and	other	agencies	1		3.46		105		2.06		16		2.49		12,709		1.87		12,831		1.87	Municipal	securities	289		2.41		1,016		2.13		1,186		2.77		513		3.20		3,004		2.58	Private-label	CMO	—		—		4		0.54		3		2.50		2		1.73		9		1.49	Asset-backed	securities	10		1.14		2		2.74		31		1.60		149		3.64		192		3.16	Corporate	debt	1		3.30		26		1.80		418		1.78		—		—		445		1.78	Other	securities/Sovereign	debt	3		2.60		1		1.64		—		—		—		—		4		2.42	Total	available-for-sale	securities$	304		2.38	%$	1,154		2.11	%$	1,654		2.49	%$	13,373		1.94	%$	16,485		2.01	%Held-to-maturity	securities,	at	cost:Federal	agencies:Residential	CMO$	—		—	%$	25		3.07	%$	—		—	%$	1,754		2.67	%$	1,779		2.67	%Residential	MBS	—		—		—		—		—		—		3,715		2.01		3,715		2.01	Commercial	MBS	—		—		86		3.04		34		2.77		2,998		2.97		3,118		2.97	Other	agencies	—		—		49		2.47		97		2.47		100		2.53		246		2.50	Total	Federal	agencies	and	other	agencies	—		—		160		2.87		131		2.55		8,567		2.49		8,858		2.50	Municipal	securities	—		—		—		—		—		—		3		2.63		3		2.63	Total	held-to-maturity	securities$	—		—	%$	160		2.87	%$	131		2.55	%$	8,570		2.49	%$	8,861		2.50	%(1)Weighted	average	yields	were	calculated	using	amortized	cost	on	a	fully-taxable	equivalent	basis,	assuming	a	21%	tax	rate	where	applicable.Bank	Liquidity	and	Sources	of	FundingOur	primary	sources	of	funding	for	the	Bank	are	retail	and	commercial	core	deposits.		At	December	31,	2020,	these	core	deposits	funded	77%	of	total	assets	(116%	of	total	loans).		Other	sources	of	liquidity	include	non-core	deposits,	FHLB	advances,	wholesale	debt	instruments,	and	securitizations.		Demand	deposit	overdrafts	have	been	reclassified	as	loan	balances	and	were	$14	million	and	$25	million	at	December	31,	2020	and	December	31,	2019,	respectively.The	following	table	reflects	contractual	maturities	of	certain	deposits	at	December	31,	2020.Table	21	-	Maturity	Schedule	of	time	deposits,	brokered	deposits,	and	negotiable	CDsAt	December	31,	2020(dollar	amounts	in	millions)3	Monthsor	Less3	Monthsto	6	Months6	Monthsto	12	Months12	Monthsor	MoreTotalOther	domestic	time	deposits	of	$250,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,237	$	54	$	45	$	18	$	4,354	Other	domestic	time	deposits	of	$100,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,326	$	197	$	162	$	83	$	4,768	80					Huntington	Bancshares	IncorporatedThe	following	table	reflects	deposit	composition	detail	for	each	of	the	last	three	years:Table	22	-	Deposit	CompositionAt	December	31,(dollar	amounts	in	millions)202020192018	(1)By	Type:Demand	deposits—noninterest-bearing	$	28,553		29	%$	20,247		25	%$	21,783		26	%Demand	deposits—interest-bearing		26,757		27		20,583		25		20,042		24	Money	market	deposits		26,248		27		24,726		30		22,721		27	Savings	and	other	domestic	deposits	11,722		12		9,549		12		10,451		12	Core	certificates	of	deposit	(2)	1,425		1		4,356		5		5,924		7	Total	core	deposits:	94,705		96		79,461		97		80,921		96	Other	domestic	deposits	of	$250,000	or	more		131		—		313		—		337		—	Brokered	deposits	and	negotiable	CDs	4,112		4		2,573		3		3,516		4	Total	deposits$	98,948		100	%$	82,347		100	%$	84,774		100	%Total	core	deposits:Commercial$	44,698		47	%$	34,957		44	%$	37,268		46	%Consumer	50,007		53		44,504		56		43,653		54	Total	core	deposits$	94,705		100	%$	79,461		100	%$	80,921		100	%(1)December	31,	2018	includes	$210	million	of	noninterest-bearing	and	$662	million	of	interesting	bearing	deposits	classified	as	held-for-sale.(2)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.The	Bank	maintains	borrowing	capacity	at	the	FHLB	and	the	Federal	Reserve	Bank	Discount	Window.		The	Bank	does	not	consider	borrowing	capacity	from	the	Federal	Reserve	Bank	Discount	Window	as	a	primary	source	of	liquidity.		Total	loans	and	securities	pledged	to	the	Federal	Reserve	Bank	Discount	Window	and	the	FHLB	are	$53.4	billion	and	$39.6	billion	at	December	31,	2020	and	December	31,	2019,	respectively.	To	the	extent	we	are	unable	to	obtain	sufficient	liquidity	through	core	deposits,	we	may	meet	our	liquidity	needs	through	sources	of	wholesale	funding,	asset	securitization	or	sale.		Sources	of	wholesale	funding	include	other	domestic	deposits	of	$250,000	or	more,	brokered	deposits	and	negotiable	CDs,	short-term	borrowings,	and	long-term	debt.		At	December	31,	2020,	total	wholesale	funding	was	$12.8	billion,	a	decrease	from	$15.3	billion	at	December	31,	2019.		The	decrease	from	the	prior	year-end	primarily	relates	to	an	decrease	in	short-term	borrowings	and	maturity,	redemption	and	tender	of	long-term	debt,	partially	offset	by	a	increase	in	brokered	deposits	and	negotiable	CDs.At	December	31,	2020,	we	believe	the	Bank	has	sufficient	liquidity	to	meet	its	cash	flow	obligations	for	the	foreseeable	future.		Table	23	-	Maturity	Schedule	of	Commercial	LoansAt	December	31,	2020(dollar	amounts	in	millions)One	Yearor	LessOne	toFive	YearsAfterFive	YearsTotalPercentof	totalCommercial	and	industrial$	9,329	$	21,603	$	4,441	$	35,373		83	%Commercial	real	estate—construction	381		579		75		1,035		3	Commercial	real	estate—commercial	1,053		3,694		1,417		6,164		14	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Variable-interest	rates$	8,798	$	20,693	$	3,578	$	33,069		78	%Fixed-interest	rates	1,965		5,183		2,355		9,503		22	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Percent	of	total	25	%	61	%	14	%	100	%At	December	31,	2020,	the	market	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	and	security	repurchase	agreements	totaled	$14.4	billion.		There	were	no	securities	of	a	single	issuer,	which	are	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	December	31,	2020.2020	Form	10-K					81Table	20	-	Investment	Securities	Portfolio	Composition	and	Contractual	MaturityAt	December	31,	2020	1	year	or	lessAfter	1	year	through	5	years	After	5	years	through	10	yearsAfter	10	yearsTotal(dollar	amounts	in	millions)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)AmountYield	(1)Available-for-sale	securities,	at	fair	value:U.S.	Treasury$	—		—	%$	5		0.14	%$	—		—	%$	—		—	%$	5		0.14	%Federal	agencies:Residential	CMO	—		—		55		1.87		—		—		3,611		2.39		3,666		2.39	Residential	MBS	—		—		—		—		—		—		7,935		1.59		7,935		1.59	Commercial	MBS	—		—		—		—		—		—		1,163		2.17		1,163		2.17	Other	agencies	1		3.44		45		2.52		16		2.48		—		—		62		2.53	Total	U.S.	Treasury,	Federal	agencies	and	other	agencies	1		3.46		105		2.06		16		2.49		12,709		1.87		12,831		1.87	Municipal	securities	289		2.41		1,016		2.13		1,186		2.77		513		3.20		3,004		2.58	Private-label	CMO	—		—		4		0.54		3		2.50		2		1.73		9		1.49	Asset-backed	securities	10		1.14		2		2.74		31		1.60		149		3.64		192		3.16	Corporate	debt	1		3.30		26		1.80		418		1.78		—		—		445		1.78	Other	securities/Sovereign	debt	3		2.60		1		1.64		—		—		—		—		4		2.42	Total	available-for-sale	securities$	304		2.38	%$	1,154		2.11	%$	1,654		2.49	%$	13,373		1.94	%$	16,485		2.01	%Held-to-maturity	securities,	at	cost:Federal	agencies:Residential	CMO$	—		—	%$	25		3.07	%$	—		—	%$	1,754		2.67	%$	1,779		2.67	%Residential	MBS	—		—		—		—		—		—		3,715		2.01		3,715		2.01	Commercial	MBS	—		—		86		3.04		34		2.77		2,998		2.97		3,118		2.97	Other	agencies	—		—		49		2.47		97		2.47		100		2.53		246		2.50	Total	Federal	agencies	and	other	agencies	—		—		160		2.87		131		2.55		8,567		2.49		8,858		2.50	Municipal	securities	—		—		—		—		—		—		3		2.63		3		2.63	Total	held-to-maturity	securities$	—		—	%$	160		2.87	%$	131		2.55	%$	8,570		2.49	%$	8,861		2.50	%(1)Weighted	average	yields	were	calculated	using	amortized	cost	on	a	fully-taxable	equivalent	basis,	assuming	a	21%	tax	rate	where	applicable.Bank	Liquidity	and	Sources	of	FundingOur	primary	sources	of	funding	for	the	Bank	are	retail	and	commercial	core	deposits.		At	December	31,	2020,	these	core	deposits	funded	77%	of	total	assets	(116%	of	total	loans).		Other	sources	of	liquidity	include	non-core	deposits,	FHLB	advances,	wholesale	debt	instruments,	and	securitizations.		Demand	deposit	overdrafts	have	been	reclassified	as	loan	balances	and	were	$14	million	and	$25	million	at	December	31,	2020	and	December	31,	2019,	respectively.The	following	table	reflects	contractual	maturities	of	certain	deposits	at	December	31,	2020.Table	21	-	Maturity	Schedule	of	time	deposits,	brokered	deposits,	and	negotiable	CDsAt	December	31,	2020(dollar	amounts	in	millions)3	Monthsor	Less3	Monthsto	6	Months6	Monthsto	12	Months12	Monthsor	MoreTotalOther	domestic	time	deposits	of	$250,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,237	$	54	$	45	$	18	$	4,354	Other	domestic	time	deposits	of	$100,000	or	more	and	brokered	deposits	and	negotiable	CDs$	4,326	$	197	$	162	$	83	$	4,768	80					Huntington	Bancshares	IncorporatedThe	following	table	reflects	deposit	composition	detail	for	each	of	the	last	three	years:Table	22	-	Deposit	CompositionAt	December	31,(dollar	amounts	in	millions)202020192018	(1)By	Type:Demand	deposits—noninterest-bearing	$	28,553		29	%$	20,247		25	%$	21,783		26	%Demand	deposits—interest-bearing		26,757		27		20,583		25		20,042		24	Money	market	deposits		26,248		27		24,726		30		22,721		27	Savings	and	other	domestic	deposits	11,722		12		9,549		12		10,451		12	Core	certificates	of	deposit	(2)	1,425		1		4,356		5		5,924		7	Total	core	deposits:	94,705		96		79,461		97		80,921		96	Other	domestic	deposits	of	$250,000	or	more		131		—		313		—		337		—	Brokered	deposits	and	negotiable	CDs	4,112		4		2,573		3		3,516		4	Total	deposits$	98,948		100	%$	82,347		100	%$	84,774		100	%Total	core	deposits:Commercial$	44,698		47	%$	34,957		44	%$	37,268		46	%Consumer	50,007		53		44,504		56		43,653		54	Total	core	deposits$	94,705		100	%$	79,461		100	%$	80,921		100	%(1)December	31,	2018	includes	$210	million	of	noninterest-bearing	and	$662	million	of	interesting	bearing	deposits	classified	as	held-for-sale.(2)Includes	consumer	certificates	of	deposit	of	$250,000	or	more.The	Bank	maintains	borrowing	capacity	at	the	FHLB	and	the	Federal	Reserve	Bank	Discount	Window.		The	Bank	does	not	consider	borrowing	capacity	from	the	Federal	Reserve	Bank	Discount	Window	as	a	primary	source	of	liquidity.		Total	loans	and	securities	pledged	to	the	Federal	Reserve	Bank	Discount	Window	and	the	FHLB	are	$53.4	billion	and	$39.6	billion	at	December	31,	2020	and	December	31,	2019,	respectively.	To	the	extent	we	are	unable	to	obtain	sufficient	liquidity	through	core	deposits,	we	may	meet	our	liquidity	needs	through	sources	of	wholesale	funding,	asset	securitization	or	sale.		Sources	of	wholesale	funding	include	other	domestic	deposits	of	$250,000	or	more,	brokered	deposits	and	negotiable	CDs,	short-term	borrowings,	and	long-term	debt.		At	December	31,	2020,	total	wholesale	funding	was	$12.8	billion,	a	decrease	from	$15.3	billion	at	December	31,	2019.		The	decrease	from	the	prior	year-end	primarily	relates	to	an	decrease	in	short-term	borrowings	and	maturity,	redemption	and	tender	of	long-term	debt,	partially	offset	by	a	increase	in	brokered	deposits	and	negotiable	CDs.At	December	31,	2020,	we	believe	the	Bank	has	sufficient	liquidity	to	meet	its	cash	flow	obligations	for	the	foreseeable	future.		Table	23	-	Maturity	Schedule	of	Commercial	LoansAt	December	31,	2020(dollar	amounts	in	millions)One	Yearor	LessOne	toFive	YearsAfterFive	YearsTotalPercentof	totalCommercial	and	industrial$	9,329	$	21,603	$	4,441	$	35,373		83	%Commercial	real	estate—construction	381		579		75		1,035		3	Commercial	real	estate—commercial	1,053		3,694		1,417		6,164		14	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Variable-interest	rates$	8,798	$	20,693	$	3,578	$	33,069		78	%Fixed-interest	rates	1,965		5,183		2,355		9,503		22	Total$	10,763	$	25,876	$	5,933	$	42,572		100	%Percent	of	total	25	%	61	%	14	%	100	%At	December	31,	2020,	the	market	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	and	security	repurchase	agreements	totaled	$14.4	billion.		There	were	no	securities	of	a	single	issuer,	which	are	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	December	31,	2020.2020	Form	10-K					81Parent	Company	LiquidityThe	parent	company’s	funding	requirements	consist	primarily	of	dividends	to	shareholders,	debt	service,	income	taxes,	operating	expenses,	funding	of	nonbank	subsidiaries,	repurchases	of	our	stock,	and	acquisitions.		The	parent	company	obtains	funding	to	meet	obligations	from	dividends	and	interest	received	from	the	Bank,	interest	and	dividends	received	from	direct	subsidiaries,	net	taxes	collected	from	subsidiaries	included	in	the	federal	consolidated	tax	return,	fees	for	services	provided	to	subsidiaries,	and	the	issuance	of	debt	securities.At	December	31,	2020	and	December	31,	2019,	the	parent	company	had	$4.4	billion	and	$3.1	billion,	respectively,	in	cash	and	cash	equivalents.	On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	common	stock	cash	dividend	of	$0.15	per	common	share.		The	dividend	is	payable	on	April	1,	2021,	to	shareholders	of	record	on	March	18,	2021.		Based	on	the	current	quarterly	dividend	of	$0.15	per	common	share,	cash	demands	required	for	common	stock	dividends	are	estimated	to	be	approximately	$153	million	per	quarter.		On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	dividend	payable	on	April	15,	2021	to	shareholders	of	record	on	April	1,	2021.		Total	cash	demands	required	for	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	are	expected	to	be	approximately	$31	million	per	quarter.During	2020,	the	Bank	paid	preferred	and	common	dividends	of	$45	million	and	$1.5	billion,	respectively.		To	meet	any	additional	liquidity	needs,	the	parent	company	may	issue	debt	or	equity	securities	from	time	to	time.	Off-Balance	Sheet	ArrangementsIn	the	normal	course	of	business,	we	enter	into	various	off-balance	sheet	arrangements.		These	arrangements	include	commitments	to	extend	credit,	interest	rate	swaps	and	floors,	financial	guarantees	contained	in	standby	letters-of-credit	issued	by	the	Bank,	and	commitments	by	the	Bank	to	sell	mortgage	loans.COMMITMENTS	TO	EXTEND	CREDITCommitments	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.	See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.INTEREST	RATE	SWAPSBalance	sheet	hedging	activity	is	arranged	to	receive	hedge	accounting	treatment	and	is	classified	as	either	fair	value	or	cash	flow	hedges.		Fair	value	hedges	are	purchased	to	convert	deposits	and	long-term	debt	from	fixed-rate	obligations	to	floating	rate.		Cash	flow	hedges	are	also	used	to	convert	floating	rate	loans	made	to	customers	into	fixed	rate	loans.		See	Note	21	-	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.STANDBY	LETTERS-OF-CREDITStandby	letters-of-credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years	and	are	expected	to	expire	without	being	drawn	upon.		Standby	letters-of-credit	are	included	in	the	determination	of	the	amount	of	risk-based	capital	that	the	parent	company	and	the	Bank	are	required	to	hold.		Through	our	credit	process,	we	monitor	the	credit	risks	of	outstanding	standby	letters-of-credit.		When	it	is	probable	that	a	standby	letter-of-credit	will	be	drawn	and	not	repaid	in	full,	a	loss	is	recognized	in	the	provision	for	credit	losses.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.82					Huntington	Bancshares	IncorporatedCOMMITMENTS	TO	SELL	LOANSActivity	related	to	our	mortgage	origination	activity	supports	the	hedging	of	the	mortgage	pricing	commitments	to	customers	and	the	secondary	sale	to	third	parties.		In	addition,	we	have	commitments	to	sell	residential	real	estate	loans.		These	contracts	mature	in	less	than	one	year.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.We	believe	that	off-balance	sheet	arrangements	are	properly	considered	in	our	liquidity	risk	management	process.Table	24	-	Contractual	Obligations	(1)(dollar	amounts	in	millions)At	December	31,	2020Less	than	1	Year1	to	3Years3	to	5YearsMore	than5	YearsTotalDeposits	without	a	stated	maturity$	96,966	$	—	$	—	$	—	$	96,966	Certificates	of	deposit	and	other	time	deposits	1,591		336		55		—		1,982	Short-term	borrowings	183		—		—		—		183	Long-term	debt	1,866		3,629		1,442		1,254		8,191	Operating	lease	obligations	43		79		58		77		257	Purchase	commitments	121		113		45		67		346	(1)Amounts	do	not	include	associated	interest	payments.Operational	RiskOperational	risk	is	the	risk	of	loss	due	to	human	error,	third-party	performance	failures,	inadequate	or	failed	internal	systems	and	controls,	including	the	use	of	financial	or	other	quantitative	methodologies	that	may	not	adequately	predict	future	results;	violations	of,	or	noncompliance	with,	laws,	rules,	regulations,	prescribed	practices,	or	ethical	standards;	and	external	influences	such	as	market	conditions,	fraudulent	activities,	disasters,	failed	business	contingency	plans,	and	security	risks.		We	continuously	strive	to	strengthen	our	system	of	internal	controls	to	ensure	compliance	with	laws,	rules,	and	regulations,	and	to	improve	the	oversight	of	our	operational	risk.		We	actively	monitor	cyberattacks	such	as	attempts	related	to	online	deception	and	loss	of	sensitive	customer	data.We	evaluate	internal	systems,	processes	and	controls	to	mitigate	loss	from	cyber-attacks	and,	to	date,	have	not	experienced	any	material	losses.		Cybersecurity	threats	have	increased,	primarily	through	COVID-19	themed	phishing	campaigns.		We	are	actively	monitoring	our	email	gateways	for	malicious	phishing	email	campaigns.		We	have	also	increased	our	cybersecurity	monitoring	activities	through	the	implementation	of	specific	monitoring	of	remote	connections	by	geography	and	volume	of	connections	to	detect	anomalous	remote	logins,	since	a	significant	portion	of	our	workforce	is	now	working	remotely.Our	objective	for	managing	cyber	security	risk	is	to	avoid	or	minimize	the	impacts	of	external	threat	events	or	other	efforts	to	penetrate	our	systems.		We	work	to	achieve	this	objective	by	hardening	networks	and	systems	against	attack,	and	by	diligently	managing	visibility	and	monitoring	controls	within	our	data	and	communications	environment	to	recognize	events	and	respond	before	the	attacker	has	the	opportunity	to	plan	and	execute	on	its	own	goals.		To	this	end	we	employ	a	set	of	defense	in-depth	strategies,	which	include	efforts	to	make	us	less	attractive	as	a	target	and	less	vulnerable	to	threats,	while	investing	in	threat	analytic	capabilities	for	rapid	detection	and	response.		Potential	concerns	related	to	cyber	security	may	be	escalated	to	our	board-level	Technology	Committee,	as	appropriate.		As	a	complement	to	the	overall	cyber	security	risk	management,	we	use	a	number	of	internal	training	methods,	both	formally	through	mandatory	courses	and	informally	through	written	communications	and	other	updates.		Internal	policies	and	procedures	have	been	implemented	to	encourage	the	reporting	of	potential	phishing	attacks	or	other	security	risks.		We	also	use	third-party	services	to	test	the	effectiveness	of	our	cyber	security	risk	management	framework,	and	any	such	third	parties	are	required	to	comply	with	our	policies	regarding	information	security	and	confidentiality.To	mitigate	operational	risks,	we	have	an	Operational	Risk	Committee,	a	Legal,	Regulatory,	and	Compliance	Committee,	a	Funds	Movement	Committee,	and	a	Third	Party	Risk	Management	Committee.		The	responsibilities	of	these	committees,	among	other	duties,	include	establishing	and	maintaining	management	information	systems	to	monitor	material	risks	and	to	identify	potential	concerns,	risks,	or	trends	that	may	have	a	significant	impact	and	2020	Form	10-K					83Parent	Company	LiquidityThe	parent	company’s	funding	requirements	consist	primarily	of	dividends	to	shareholders,	debt	service,	income	taxes,	operating	expenses,	funding	of	nonbank	subsidiaries,	repurchases	of	our	stock,	and	acquisitions.		The	parent	company	obtains	funding	to	meet	obligations	from	dividends	and	interest	received	from	the	Bank,	interest	and	dividends	received	from	direct	subsidiaries,	net	taxes	collected	from	subsidiaries	included	in	the	federal	consolidated	tax	return,	fees	for	services	provided	to	subsidiaries,	and	the	issuance	of	debt	securities.At	December	31,	2020	and	December	31,	2019,	the	parent	company	had	$4.4	billion	and	$3.1	billion,	respectively,	in	cash	and	cash	equivalents.	On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	common	stock	cash	dividend	of	$0.15	per	common	share.		The	dividend	is	payable	on	April	1,	2021,	to	shareholders	of	record	on	March	18,	2021.		Based	on	the	current	quarterly	dividend	of	$0.15	per	common	share,	cash	demands	required	for	common	stock	dividends	are	estimated	to	be	approximately	$153	million	per	quarter.		On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	dividend	payable	on	April	15,	2021	to	shareholders	of	record	on	April	1,	2021.		Total	cash	demands	required	for	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	are	expected	to	be	approximately	$31	million	per	quarter.During	2020,	the	Bank	paid	preferred	and	common	dividends	of	$45	million	and	$1.5	billion,	respectively.		To	meet	any	additional	liquidity	needs,	the	parent	company	may	issue	debt	or	equity	securities	from	time	to	time.	Off-Balance	Sheet	ArrangementsIn	the	normal	course	of	business,	we	enter	into	various	off-balance	sheet	arrangements.		These	arrangements	include	commitments	to	extend	credit,	interest	rate	swaps	and	floors,	financial	guarantees	contained	in	standby	letters-of-credit	issued	by	the	Bank,	and	commitments	by	the	Bank	to	sell	mortgage	loans.COMMITMENTS	TO	EXTEND	CREDITCommitments	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.	See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.INTEREST	RATE	SWAPSBalance	sheet	hedging	activity	is	arranged	to	receive	hedge	accounting	treatment	and	is	classified	as	either	fair	value	or	cash	flow	hedges.		Fair	value	hedges	are	purchased	to	convert	deposits	and	long-term	debt	from	fixed-rate	obligations	to	floating	rate.		Cash	flow	hedges	are	also	used	to	convert	floating	rate	loans	made	to	customers	into	fixed	rate	loans.		See	Note	21	-	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.STANDBY	LETTERS-OF-CREDITStandby	letters-of-credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years	and	are	expected	to	expire	without	being	drawn	upon.		Standby	letters-of-credit	are	included	in	the	determination	of	the	amount	of	risk-based	capital	that	the	parent	company	and	the	Bank	are	required	to	hold.		Through	our	credit	process,	we	monitor	the	credit	risks	of	outstanding	standby	letters-of-credit.		When	it	is	probable	that	a	standby	letter-of-credit	will	be	drawn	and	not	repaid	in	full,	a	loss	is	recognized	in	the	provision	for	credit	losses.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.82					Huntington	Bancshares	IncorporatedCOMMITMENTS	TO	SELL	LOANSActivity	related	to	our	mortgage	origination	activity	supports	the	hedging	of	the	mortgage	pricing	commitments	to	customers	and	the	secondary	sale	to	third	parties.		In	addition,	we	have	commitments	to	sell	residential	real	estate	loans.		These	contracts	mature	in	less	than	one	year.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.We	believe	that	off-balance	sheet	arrangements	are	properly	considered	in	our	liquidity	risk	management	process.Table	24	-	Contractual	Obligations	(1)(dollar	amounts	in	millions)At	December	31,	2020Less	than	1	Year1	to	3Years3	to	5YearsMore	than5	YearsTotalDeposits	without	a	stated	maturity$	96,966	$	—	$	—	$	—	$	96,966	Certificates	of	deposit	and	other	time	deposits	1,591		336		55		—		1,982	Short-term	borrowings	183		—		—		—		183	Long-term	debt	1,866		3,629		1,442		1,254		8,191	Operating	lease	obligations	43		79		58		77		257	Purchase	commitments	121		113		45		67		346	(1)Amounts	do	not	include	associated	interest	payments.Operational	RiskOperational	risk	is	the	risk	of	loss	due	to	human	error,	third-party	performance	failures,	inadequate	or	failed	internal	systems	and	controls,	including	the	use	of	financial	or	other	quantitative	methodologies	that	may	not	adequately	predict	future	results;	violations	of,	or	noncompliance	with,	laws,	rules,	regulations,	prescribed	practices,	or	ethical	standards;	and	external	influences	such	as	market	conditions,	fraudulent	activities,	disasters,	failed	business	contingency	plans,	and	security	risks.		We	continuously	strive	to	strengthen	our	system	of	internal	controls	to	ensure	compliance	with	laws,	rules,	and	regulations,	and	to	improve	the	oversight	of	our	operational	risk.		We	actively	monitor	cyberattacks	such	as	attempts	related	to	online	deception	and	loss	of	sensitive	customer	data.We	evaluate	internal	systems,	processes	and	controls	to	mitigate	loss	from	cyber-attacks	and,	to	date,	have	not	experienced	any	material	losses.		Cybersecurity	threats	have	increased,	primarily	through	COVID-19	themed	phishing	campaigns.		We	are	actively	monitoring	our	email	gateways	for	malicious	phishing	email	campaigns.		We	have	also	increased	our	cybersecurity	monitoring	activities	through	the	implementation	of	specific	monitoring	of	remote	connections	by	geography	and	volume	of	connections	to	detect	anomalous	remote	logins,	since	a	significant	portion	of	our	workforce	is	now	working	remotely.Our	objective	for	managing	cyber	security	risk	is	to	avoid	or	minimize	the	impacts	of	external	threat	events	or	other	efforts	to	penetrate	our	systems.		We	work	to	achieve	this	objective	by	hardening	networks	and	systems	against	attack,	and	by	diligently	managing	visibility	and	monitoring	controls	within	our	data	and	communications	environment	to	recognize	events	and	respond	before	the	attacker	has	the	opportunity	to	plan	and	execute	on	its	own	goals.		To	this	end	we	employ	a	set	of	defense	in-depth	strategies,	which	include	efforts	to	make	us	less	attractive	as	a	target	and	less	vulnerable	to	threats,	while	investing	in	threat	analytic	capabilities	for	rapid	detection	and	response.		Potential	concerns	related	to	cyber	security	may	be	escalated	to	our	board-level	Technology	Committee,	as	appropriate.		As	a	complement	to	the	overall	cyber	security	risk	management,	we	use	a	number	of	internal	training	methods,	both	formally	through	mandatory	courses	and	informally	through	written	communications	and	other	updates.		Internal	policies	and	procedures	have	been	implemented	to	encourage	the	reporting	of	potential	phishing	attacks	or	other	security	risks.		We	also	use	third-party	services	to	test	the	effectiveness	of	our	cyber	security	risk	management	framework,	and	any	such	third	parties	are	required	to	comply	with	our	policies	regarding	information	security	and	confidentiality.To	mitigate	operational	risks,	we	have	an	Operational	Risk	Committee,	a	Legal,	Regulatory,	and	Compliance	Committee,	a	Funds	Movement	Committee,	and	a	Third	Party	Risk	Management	Committee.		The	responsibilities	of	these	committees,	among	other	duties,	include	establishing	and	maintaining	management	information	systems	to	monitor	material	risks	and	to	identify	potential	concerns,	risks,	or	trends	that	may	have	a	significant	impact	and	2020	Form	10-K					83Parent	Company	LiquidityThe	parent	company’s	funding	requirements	consist	primarily	of	dividends	to	shareholders,	debt	service,	income	taxes,	operating	expenses,	funding	of	nonbank	subsidiaries,	repurchases	of	our	stock,	and	acquisitions.		The	parent	company	obtains	funding	to	meet	obligations	from	dividends	and	interest	received	from	the	Bank,	interest	and	dividends	received	from	direct	subsidiaries,	net	taxes	collected	from	subsidiaries	included	in	the	federal	consolidated	tax	return,	fees	for	services	provided	to	subsidiaries,	and	the	issuance	of	debt	securities.At	December	31,	2020	and	December	31,	2019,	the	parent	company	had	$4.4	billion	and	$3.1	billion,	respectively,	in	cash	and	cash	equivalents.	On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	common	stock	cash	dividend	of	$0.15	per	common	share.		The	dividend	is	payable	on	April	1,	2021,	to	shareholders	of	record	on	March	18,	2021.		Based	on	the	current	quarterly	dividend	of	$0.15	per	common	share,	cash	demands	required	for	common	stock	dividends	are	estimated	to	be	approximately	$153	million	per	quarter.		On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	dividend	payable	on	April	15,	2021	to	shareholders	of	record	on	April	1,	2021.		Total	cash	demands	required	for	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	are	expected	to	be	approximately	$31	million	per	quarter.During	2020,	the	Bank	paid	preferred	and	common	dividends	of	$45	million	and	$1.5	billion,	respectively.		To	meet	any	additional	liquidity	needs,	the	parent	company	may	issue	debt	or	equity	securities	from	time	to	time.	Off-Balance	Sheet	ArrangementsIn	the	normal	course	of	business,	we	enter	into	various	off-balance	sheet	arrangements.		These	arrangements	include	commitments	to	extend	credit,	interest	rate	swaps	and	floors,	financial	guarantees	contained	in	standby	letters-of-credit	issued	by	the	Bank,	and	commitments	by	the	Bank	to	sell	mortgage	loans.COMMITMENTS	TO	EXTEND	CREDITCommitments	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.	See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.INTEREST	RATE	SWAPSBalance	sheet	hedging	activity	is	arranged	to	receive	hedge	accounting	treatment	and	is	classified	as	either	fair	value	or	cash	flow	hedges.		Fair	value	hedges	are	purchased	to	convert	deposits	and	long-term	debt	from	fixed-rate	obligations	to	floating	rate.		Cash	flow	hedges	are	also	used	to	convert	floating	rate	loans	made	to	customers	into	fixed	rate	loans.		See	Note	21	-	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.STANDBY	LETTERS-OF-CREDITStandby	letters-of-credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years	and	are	expected	to	expire	without	being	drawn	upon.		Standby	letters-of-credit	are	included	in	the	determination	of	the	amount	of	risk-based	capital	that	the	parent	company	and	the	Bank	are	required	to	hold.		Through	our	credit	process,	we	monitor	the	credit	risks	of	outstanding	standby	letters-of-credit.		When	it	is	probable	that	a	standby	letter-of-credit	will	be	drawn	and	not	repaid	in	full,	a	loss	is	recognized	in	the	provision	for	credit	losses.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.82					Huntington	Bancshares	IncorporatedCOMMITMENTS	TO	SELL	LOANSActivity	related	to	our	mortgage	origination	activity	supports	the	hedging	of	the	mortgage	pricing	commitments	to	customers	and	the	secondary	sale	to	third	parties.		In	addition,	we	have	commitments	to	sell	residential	real	estate	loans.		These	contracts	mature	in	less	than	one	year.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.We	believe	that	off-balance	sheet	arrangements	are	properly	considered	in	our	liquidity	risk	management	process.Table	24	-	Contractual	Obligations	(1)(dollar	amounts	in	millions)At	December	31,	2020Less	than	1	Year1	to	3Years3	to	5YearsMore	than5	YearsTotalDeposits	without	a	stated	maturity$	96,966	$	—	$	—	$	—	$	96,966	Certificates	of	deposit	and	other	time	deposits	1,591		336		55		—		1,982	Short-term	borrowings	183		—		—		—		183	Long-term	debt	1,866		3,629		1,442		1,254		8,191	Operating	lease	obligations	43		79		58		77		257	Purchase	commitments	121		113		45		67		346	(1)Amounts	do	not	include	associated	interest	payments.Operational	RiskOperational	risk	is	the	risk	of	loss	due	to	human	error,	third-party	performance	failures,	inadequate	or	failed	internal	systems	and	controls,	including	the	use	of	financial	or	other	quantitative	methodologies	that	may	not	adequately	predict	future	results;	violations	of,	or	noncompliance	with,	laws,	rules,	regulations,	prescribed	practices,	or	ethical	standards;	and	external	influences	such	as	market	conditions,	fraudulent	activities,	disasters,	failed	business	contingency	plans,	and	security	risks.		We	continuously	strive	to	strengthen	our	system	of	internal	controls	to	ensure	compliance	with	laws,	rules,	and	regulations,	and	to	improve	the	oversight	of	our	operational	risk.		We	actively	monitor	cyberattacks	such	as	attempts	related	to	online	deception	and	loss	of	sensitive	customer	data.We	evaluate	internal	systems,	processes	and	controls	to	mitigate	loss	from	cyber-attacks	and,	to	date,	have	not	experienced	any	material	losses.		Cybersecurity	threats	have	increased,	primarily	through	COVID-19	themed	phishing	campaigns.		We	are	actively	monitoring	our	email	gateways	for	malicious	phishing	email	campaigns.		We	have	also	increased	our	cybersecurity	monitoring	activities	through	the	implementation	of	specific	monitoring	of	remote	connections	by	geography	and	volume	of	connections	to	detect	anomalous	remote	logins,	since	a	significant	portion	of	our	workforce	is	now	working	remotely.Our	objective	for	managing	cyber	security	risk	is	to	avoid	or	minimize	the	impacts	of	external	threat	events	or	other	efforts	to	penetrate	our	systems.		We	work	to	achieve	this	objective	by	hardening	networks	and	systems	against	attack,	and	by	diligently	managing	visibility	and	monitoring	controls	within	our	data	and	communications	environment	to	recognize	events	and	respond	before	the	attacker	has	the	opportunity	to	plan	and	execute	on	its	own	goals.		To	this	end	we	employ	a	set	of	defense	in-depth	strategies,	which	include	efforts	to	make	us	less	attractive	as	a	target	and	less	vulnerable	to	threats,	while	investing	in	threat	analytic	capabilities	for	rapid	detection	and	response.		Potential	concerns	related	to	cyber	security	may	be	escalated	to	our	board-level	Technology	Committee,	as	appropriate.		As	a	complement	to	the	overall	cyber	security	risk	management,	we	use	a	number	of	internal	training	methods,	both	formally	through	mandatory	courses	and	informally	through	written	communications	and	other	updates.		Internal	policies	and	procedures	have	been	implemented	to	encourage	the	reporting	of	potential	phishing	attacks	or	other	security	risks.		We	also	use	third-party	services	to	test	the	effectiveness	of	our	cyber	security	risk	management	framework,	and	any	such	third	parties	are	required	to	comply	with	our	policies	regarding	information	security	and	confidentiality.To	mitigate	operational	risks,	we	have	an	Operational	Risk	Committee,	a	Legal,	Regulatory,	and	Compliance	Committee,	a	Funds	Movement	Committee,	and	a	Third	Party	Risk	Management	Committee.		The	responsibilities	of	these	committees,	among	other	duties,	include	establishing	and	maintaining	management	information	systems	to	monitor	material	risks	and	to	identify	potential	concerns,	risks,	or	trends	that	may	have	a	significant	impact	and	2020	Form	10-K					83Parent	Company	LiquidityThe	parent	company’s	funding	requirements	consist	primarily	of	dividends	to	shareholders,	debt	service,	income	taxes,	operating	expenses,	funding	of	nonbank	subsidiaries,	repurchases	of	our	stock,	and	acquisitions.		The	parent	company	obtains	funding	to	meet	obligations	from	dividends	and	interest	received	from	the	Bank,	interest	and	dividends	received	from	direct	subsidiaries,	net	taxes	collected	from	subsidiaries	included	in	the	federal	consolidated	tax	return,	fees	for	services	provided	to	subsidiaries,	and	the	issuance	of	debt	securities.At	December	31,	2020	and	December	31,	2019,	the	parent	company	had	$4.4	billion	and	$3.1	billion,	respectively,	in	cash	and	cash	equivalents.	On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	common	stock	cash	dividend	of	$0.15	per	common	share.		The	dividend	is	payable	on	April	1,	2021,	to	shareholders	of	record	on	March	18,	2021.		Based	on	the	current	quarterly	dividend	of	$0.15	per	common	share,	cash	demands	required	for	common	stock	dividends	are	estimated	to	be	approximately	$153	million	per	quarter.		On	January	20,	2021,	the	Board	of	Directors	declared	a	quarterly	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	dividend	payable	on	April	15,	2021	to	shareholders	of	record	on	April	1,	2021.		Total	cash	demands	required	for	Series	B,	Series	C,	Series	D,	Series	E,	Series	F,	and	Series	G	Preferred	Stock	are	expected	to	be	approximately	$31	million	per	quarter.During	2020,	the	Bank	paid	preferred	and	common	dividends	of	$45	million	and	$1.5	billion,	respectively.		To	meet	any	additional	liquidity	needs,	the	parent	company	may	issue	debt	or	equity	securities	from	time	to	time.	Off-Balance	Sheet	ArrangementsIn	the	normal	course	of	business,	we	enter	into	various	off-balance	sheet	arrangements.		These	arrangements	include	commitments	to	extend	credit,	interest	rate	swaps	and	floors,	financial	guarantees	contained	in	standby	letters-of-credit	issued	by	the	Bank,	and	commitments	by	the	Bank	to	sell	mortgage	loans.COMMITMENTS	TO	EXTEND	CREDITCommitments	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.	See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.INTEREST	RATE	SWAPSBalance	sheet	hedging	activity	is	arranged	to	receive	hedge	accounting	treatment	and	is	classified	as	either	fair	value	or	cash	flow	hedges.		Fair	value	hedges	are	purchased	to	convert	deposits	and	long-term	debt	from	fixed-rate	obligations	to	floating	rate.		Cash	flow	hedges	are	also	used	to	convert	floating	rate	loans	made	to	customers	into	fixed	rate	loans.		See	Note	21	-	“Derivative	Financial	Instruments”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.STANDBY	LETTERS-OF-CREDITStandby	letters-of-credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years	and	are	expected	to	expire	without	being	drawn	upon.		Standby	letters-of-credit	are	included	in	the	determination	of	the	amount	of	risk-based	capital	that	the	parent	company	and	the	Bank	are	required	to	hold.		Through	our	credit	process,	we	monitor	the	credit	risks	of	outstanding	standby	letters-of-credit.		When	it	is	probable	that	a	standby	letter-of-credit	will	be	drawn	and	not	repaid	in	full,	a	loss	is	recognized	in	the	provision	for	credit	losses.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.82					Huntington	Bancshares	IncorporatedCOMMITMENTS	TO	SELL	LOANSActivity	related	to	our	mortgage	origination	activity	supports	the	hedging	of	the	mortgage	pricing	commitments	to	customers	and	the	secondary	sale	to	third	parties.		In	addition,	we	have	commitments	to	sell	residential	real	estate	loans.		These	contracts	mature	in	less	than	one	year.		See	Note	23	-	“Commitments	and	Contingent	Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements	for	more	information.We	believe	that	off-balance	sheet	arrangements	are	properly	considered	in	our	liquidity	risk	management	process.Table	24	-	Contractual	Obligations	(1)(dollar	amounts	in	millions)At	December	31,	2020Less	than	1	Year1	to	3Years3	to	5YearsMore	than5	YearsTotalDeposits	without	a	stated	maturity$	96,966	$	—	$	—	$	—	$	96,966	Certificates	of	deposit	and	other	time	deposits	1,591		336		55		—		1,982	Short-term	borrowings	183		—		—		—		183	Long-term	debt	1,866		3,629		1,442		1,254		8,191	Operating	lease	obligations	43		79		58		77		257	Purchase	commitments	121		113		45		67		346	(1)Amounts	do	not	include	associated	interest	payments.Operational	RiskOperational	risk	is	the	risk	of	loss	due	to	human	error,	third-party	performance	failures,	inadequate	or	failed	internal	systems	and	controls,	including	the	use	of	financial	or	other	quantitative	methodologies	that	may	not	adequately	predict	future	results;	violations	of,	or	noncompliance	with,	laws,	rules,	regulations,	prescribed	practices,	or	ethical	standards;	and	external	influences	such	as	market	conditions,	fraudulent	activities,	disasters,	failed	business	contingency	plans,	and	security	risks.		We	continuously	strive	to	strengthen	our	system	of	internal	controls	to	ensure	compliance	with	laws,	rules,	and	regulations,	and	to	improve	the	oversight	of	our	operational	risk.		We	actively	monitor	cyberattacks	such	as	attempts	related	to	online	deception	and	loss	of	sensitive	customer	data.We	evaluate	internal	systems,	processes	and	controls	to	mitigate	loss	from	cyber-attacks	and,	to	date,	have	not	experienced	any	material	losses.		Cybersecurity	threats	have	increased,	primarily	through	COVID-19	themed	phishing	campaigns.		We	are	actively	monitoring	our	email	gateways	for	malicious	phishing	email	campaigns.		We	have	also	increased	our	cybersecurity	monitoring	activities	through	the	implementation	of	specific	monitoring	of	remote	connections	by	geography	and	volume	of	connections	to	detect	anomalous	remote	logins,	since	a	significant	portion	of	our	workforce	is	now	working	remotely.Our	objective	for	managing	cyber	security	risk	is	to	avoid	or	minimize	the	impacts	of	external	threat	events	or	other	efforts	to	penetrate	our	systems.		We	work	to	achieve	this	objective	by	hardening	networks	and	systems	against	attack,	and	by	diligently	managing	visibility	and	monitoring	controls	within	our	data	and	communications	environment	to	recognize	events	and	respond	before	the	attacker	has	the	opportunity	to	plan	and	execute	on	its	own	goals.		To	this	end	we	employ	a	set	of	defense	in-depth	strategies,	which	include	efforts	to	make	us	less	attractive	as	a	target	and	less	vulnerable	to	threats,	while	investing	in	threat	analytic	capabilities	for	rapid	detection	and	response.		Potential	concerns	related	to	cyber	security	may	be	escalated	to	our	board-level	Technology	Committee,	as	appropriate.		As	a	complement	to	the	overall	cyber	security	risk	management,	we	use	a	number	of	internal	training	methods,	both	formally	through	mandatory	courses	and	informally	through	written	communications	and	other	updates.		Internal	policies	and	procedures	have	been	implemented	to	encourage	the	reporting	of	potential	phishing	attacks	or	other	security	risks.		We	also	use	third-party	services	to	test	the	effectiveness	of	our	cyber	security	risk	management	framework,	and	any	such	third	parties	are	required	to	comply	with	our	policies	regarding	information	security	and	confidentiality.To	mitigate	operational	risks,	we	have	an	Operational	Risk	Committee,	a	Legal,	Regulatory,	and	Compliance	Committee,	a	Funds	Movement	Committee,	and	a	Third	Party	Risk	Management	Committee.		The	responsibilities	of	these	committees,	among	other	duties,	include	establishing	and	maintaining	management	information	systems	to	monitor	material	risks	and	to	identify	potential	concerns,	risks,	or	trends	that	may	have	a	significant	impact	and	2020	Form	10-K					83ensuring	that	recommendations	are	developed	to	address	the	identified	issues.		In	addition,	we	have	a	Model	Risk	Oversight	Committee	that	is	responsible	for	policies	and	procedures	describing	how	model	risk	is	evaluated	and	managed	and	the	application	of	the	governance	process	to	implement	these	practices	throughout	the	enterprise.		These	committees	report	any	significant	findings	and	remediation	recommendations	to	the	Risk	Management	Committee.		Potential	concerns	may	be	escalated	to	our	ROC	and	the	Audit	Committee,	as	appropriate.		Significant	findings	or	issues	are	escalated	by	the	Third	Party	Risk	Management	Committee	to	the	Technology	Committee	of	the	Board,	as	appropriate.	The	goal	of	this	framework	is	to	implement	effective	operational	risk-monitoring	techniques	and	strategies;	minimize	operational,	fraud,	and	legal	losses;	minimize	the	impact	of	inadequately	designed	models	and	enhance	our	overall	performance.Compliance	RiskFinancial	institutions	are	subject	to	many	laws,	rules,	and	regulations	at	both	the	federal	and	state	levels.		These	broad-based	laws,	rules,	and	regulations	include,	but	are	not	limited	to,	expectations	relating	to	anti-money	laundering,	lending	limits,	client	privacy,	fair	lending,	prohibitions	against	unfair,	deceptive	or	abusive	acts	or	practices,	protections	for	military	members	as	they	enter	active	duty,	and	community	reinvestment.		The	volume	and	complexity	of	recent	regulatory	changes	have	increased	our	overall	compliance	risk.		As	such,	we	utilize	various	resources	to	help	ensure	expectations	are	met,	including	a	team	of	compliance	experts	dedicated	to	ensuring	our	conformance	with	all	applicable	laws,	rules,	and	regulations.		Our	colleagues	receive	training	for	several	broad-based	laws	and	regulations	including,	but	not	limited	to,	anti-money	laundering	and	customer	privacy.		Additionally,	colleagues	engaged	in	lending	activities	receive	training	for	laws	and	regulations	related	to	flood	disaster	protection,	equal	credit	opportunity,	fair	lending,	and/or	other	courses	related	to	the	extension	of	credit.		We	set	a	high	standard	of	expectation	for	adherence	to	compliance	management	and	seek	to	continuously	enhance	our	performance.Capital(This	section	should	be	read	in	conjunction	with	the	“Regulatory	Matters”	section	included	in	Part	I,	Item	1:	Business	and	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements.)Both	regulatory	capital	and	shareholders’	equity	are	managed	at	the	Bank	and	on	a	consolidated	basis.		We	have	an	active	program	for	managing	capital	and	maintain	a	comprehensive	process	for	assessing	the	Company’s	overall	capital	adequacy.		We	believe	our	current	levels	of	both	regulatory	capital	and	shareholders’	equity	are	adequate.The	U.S.	federal	banking	regulatory	agencies	have	permitted	BHCs	and	banks	to	phase-in,	for	regulatory	capital	purposes,	the	day-one	impact	of	the	new	CECL	accounting	rule	on	retained	earnings	over	a	period	of	three	years.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	regulatory	agencies	issued	a	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	has	elected	to	adopt	the	final	rule,	which	is	reflected	in	the	regulatory	capital	data	presented	below.	84					Huntington	Bancshares	IncorporatedRegulatory	CapitalWe	are	subject	to	the	Basel	III	capital	requirements	including	the	standardized	approach	for	calculating	risk-weighted	assets	in	accordance	with	subpart	D	of	the	final	capital	rule.		The	following	table	presents	risk-weighted	assets	and	other	financial	data	necessary	to	calculate	certain	financial	ratios,	including	CET1,	which	we	use	to	measure	capital	adequacy.	Table	25	-	Capital	Under	Current	Regulatory	Standards	(Basel	III)		At	December	31,(dollar	amounts	in	millions)20202019CET	1	risk-based	capital	ratio:Total	shareholders’	equity$	12,992		11,795	Regulatory	capital	adjustments:CECL	transitional	amount	(1)	453	 — Shareholders’	preferred	equity	and	related	surplus	(2,196)		(1,207)	Accumulated	other	comprehensive	loss	(income)	offset	(192)		256	Goodwill	and	other	intangibles,	net	of	taxes	(2,107)		(2,153)	Deferred	tax	assets	that	arise	from	tax	loss	and	credit	carryforwards	(63)		(44)	CET	1	capital	8,887		8,647	Additional	tier	1	capitalShareholders’	preferred	equity	and	related	surplus	2,196		1,207	Tier	1	capital	11,083		9,854	Long-term	debt	and	other	tier	2	qualifying	instruments	660		672	Qualifying	allowance	for	loan	and	lease	losses	1,113		887	Total	risk-based	capital$	12,856	$	11,413	Risk-weighted	assets	(RWA)$	88,878	$	87,512	CET	1	risk-based	capital	ratio	10.00	%	9.88	%Other	regulatory	capital	data:Tier	1	risk-based	capital	ratio	12.47		11.26	Total	risk-based	capital	ratio	14.46		13.04	Tier	1	leverage	ratio	9.32		9.62	(1)The	CECL	transitional	amount	includes	the	impact	of	Huntington's	adoption	of	the	new	CECL	accounting	standard	on	January	1,	2020	and	25	percent	of	the	increase	in	reserves	from	January	1,	2020	through	December	31,	2020.Table	26	-	Capital	Adequacy—Non-Regulatory	(Non-GAAP)(dollar	amounts	in	millions)At	December	31,20202019Consolidated	capital	calculations:Common	shareholders’	equity$	10,800	$	10,592	Preferred	shareholders’	equity	2,192		1,203	Total	shareholders’	equity	12,992		11,795	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		—	Total	tangible	equity	10,851		9,805	Preferred	shareholders’	equity	(2,192)		(1,203)	Total	tangible	common	equity$	8,659	$	8,602	Total	assets$	123,038	$	109,002	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		(183)	Total	tangible	assets$	120,897	$	106,829	Tangible	equity	/	tangible	asset	ratio	8.98	%	9.01	%Tangible	common	equity	/	tangible	asset	ratio	7.16		7.88	Tangible	common	equity	/	RWA	ratio	9.74		9.62	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					85ensuring	that	recommendations	are	developed	to	address	the	identified	issues.		In	addition,	we	have	a	Model	Risk	Oversight	Committee	that	is	responsible	for	policies	and	procedures	describing	how	model	risk	is	evaluated	and	managed	and	the	application	of	the	governance	process	to	implement	these	practices	throughout	the	enterprise.		These	committees	report	any	significant	findings	and	remediation	recommendations	to	the	Risk	Management	Committee.		Potential	concerns	may	be	escalated	to	our	ROC	and	the	Audit	Committee,	as	appropriate.		Significant	findings	or	issues	are	escalated	by	the	Third	Party	Risk	Management	Committee	to	the	Technology	Committee	of	the	Board,	as	appropriate.	The	goal	of	this	framework	is	to	implement	effective	operational	risk-monitoring	techniques	and	strategies;	minimize	operational,	fraud,	and	legal	losses;	minimize	the	impact	of	inadequately	designed	models	and	enhance	our	overall	performance.Compliance	RiskFinancial	institutions	are	subject	to	many	laws,	rules,	and	regulations	at	both	the	federal	and	state	levels.		These	broad-based	laws,	rules,	and	regulations	include,	but	are	not	limited	to,	expectations	relating	to	anti-money	laundering,	lending	limits,	client	privacy,	fair	lending,	prohibitions	against	unfair,	deceptive	or	abusive	acts	or	practices,	protections	for	military	members	as	they	enter	active	duty,	and	community	reinvestment.		The	volume	and	complexity	of	recent	regulatory	changes	have	increased	our	overall	compliance	risk.		As	such,	we	utilize	various	resources	to	help	ensure	expectations	are	met,	including	a	team	of	compliance	experts	dedicated	to	ensuring	our	conformance	with	all	applicable	laws,	rules,	and	regulations.		Our	colleagues	receive	training	for	several	broad-based	laws	and	regulations	including,	but	not	limited	to,	anti-money	laundering	and	customer	privacy.		Additionally,	colleagues	engaged	in	lending	activities	receive	training	for	laws	and	regulations	related	to	flood	disaster	protection,	equal	credit	opportunity,	fair	lending,	and/or	other	courses	related	to	the	extension	of	credit.		We	set	a	high	standard	of	expectation	for	adherence	to	compliance	management	and	seek	to	continuously	enhance	our	performance.Capital(This	section	should	be	read	in	conjunction	with	the	“Regulatory	Matters”	section	included	in	Part	I,	Item	1:	Business	and	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements.)Both	regulatory	capital	and	shareholders’	equity	are	managed	at	the	Bank	and	on	a	consolidated	basis.		We	have	an	active	program	for	managing	capital	and	maintain	a	comprehensive	process	for	assessing	the	Company’s	overall	capital	adequacy.		We	believe	our	current	levels	of	both	regulatory	capital	and	shareholders’	equity	are	adequate.The	U.S.	federal	banking	regulatory	agencies	have	permitted	BHCs	and	banks	to	phase-in,	for	regulatory	capital	purposes,	the	day-one	impact	of	the	new	CECL	accounting	rule	on	retained	earnings	over	a	period	of	three	years.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	regulatory	agencies	issued	a	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	has	elected	to	adopt	the	final	rule,	which	is	reflected	in	the	regulatory	capital	data	presented	below.	84					Huntington	Bancshares	IncorporatedRegulatory	CapitalWe	are	subject	to	the	Basel	III	capital	requirements	including	the	standardized	approach	for	calculating	risk-weighted	assets	in	accordance	with	subpart	D	of	the	final	capital	rule.		The	following	table	presents	risk-weighted	assets	and	other	financial	data	necessary	to	calculate	certain	financial	ratios,	including	CET1,	which	we	use	to	measure	capital	adequacy.	Table	25	-	Capital	Under	Current	Regulatory	Standards	(Basel	III)		At	December	31,(dollar	amounts	in	millions)20202019CET	1	risk-based	capital	ratio:Total	shareholders’	equity$	12,992		11,795	Regulatory	capital	adjustments:CECL	transitional	amount	(1)	453	 — Shareholders’	preferred	equity	and	related	surplus	(2,196)		(1,207)	Accumulated	other	comprehensive	loss	(income)	offset	(192)		256	Goodwill	and	other	intangibles,	net	of	taxes	(2,107)		(2,153)	Deferred	tax	assets	that	arise	from	tax	loss	and	credit	carryforwards	(63)		(44)	CET	1	capital	8,887		8,647	Additional	tier	1	capitalShareholders’	preferred	equity	and	related	surplus	2,196		1,207	Tier	1	capital	11,083		9,854	Long-term	debt	and	other	tier	2	qualifying	instruments	660		672	Qualifying	allowance	for	loan	and	lease	losses	1,113		887	Total	risk-based	capital$	12,856	$	11,413	Risk-weighted	assets	(RWA)$	88,878	$	87,512	CET	1	risk-based	capital	ratio	10.00	%	9.88	%Other	regulatory	capital	data:Tier	1	risk-based	capital	ratio	12.47		11.26	Total	risk-based	capital	ratio	14.46		13.04	Tier	1	leverage	ratio	9.32		9.62	(1)The	CECL	transitional	amount	includes	the	impact	of	Huntington's	adoption	of	the	new	CECL	accounting	standard	on	January	1,	2020	and	25	percent	of	the	increase	in	reserves	from	January	1,	2020	through	December	31,	2020.Table	26	-	Capital	Adequacy—Non-Regulatory	(Non-GAAP)(dollar	amounts	in	millions)At	December	31,20202019Consolidated	capital	calculations:Common	shareholders’	equity$	10,800	$	10,592	Preferred	shareholders’	equity	2,192		1,203	Total	shareholders’	equity	12,992		11,795	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		—	Total	tangible	equity	10,851		9,805	Preferred	shareholders’	equity	(2,192)		(1,203)	Total	tangible	common	equity$	8,659	$	8,602	Total	assets$	123,038	$	109,002	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		(183)	Total	tangible	assets$	120,897	$	106,829	Tangible	equity	/	tangible	asset	ratio	8.98	%	9.01	%Tangible	common	equity	/	tangible	asset	ratio	7.16		7.88	Tangible	common	equity	/	RWA	ratio	9.74		9.62	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					85ensuring	that	recommendations	are	developed	to	address	the	identified	issues.		In	addition,	we	have	a	Model	Risk	Oversight	Committee	that	is	responsible	for	policies	and	procedures	describing	how	model	risk	is	evaluated	and	managed	and	the	application	of	the	governance	process	to	implement	these	practices	throughout	the	enterprise.		These	committees	report	any	significant	findings	and	remediation	recommendations	to	the	Risk	Management	Committee.		Potential	concerns	may	be	escalated	to	our	ROC	and	the	Audit	Committee,	as	appropriate.		Significant	findings	or	issues	are	escalated	by	the	Third	Party	Risk	Management	Committee	to	the	Technology	Committee	of	the	Board,	as	appropriate.	The	goal	of	this	framework	is	to	implement	effective	operational	risk-monitoring	techniques	and	strategies;	minimize	operational,	fraud,	and	legal	losses;	minimize	the	impact	of	inadequately	designed	models	and	enhance	our	overall	performance.Compliance	RiskFinancial	institutions	are	subject	to	many	laws,	rules,	and	regulations	at	both	the	federal	and	state	levels.		These	broad-based	laws,	rules,	and	regulations	include,	but	are	not	limited	to,	expectations	relating	to	anti-money	laundering,	lending	limits,	client	privacy,	fair	lending,	prohibitions	against	unfair,	deceptive	or	abusive	acts	or	practices,	protections	for	military	members	as	they	enter	active	duty,	and	community	reinvestment.		The	volume	and	complexity	of	recent	regulatory	changes	have	increased	our	overall	compliance	risk.		As	such,	we	utilize	various	resources	to	help	ensure	expectations	are	met,	including	a	team	of	compliance	experts	dedicated	to	ensuring	our	conformance	with	all	applicable	laws,	rules,	and	regulations.		Our	colleagues	receive	training	for	several	broad-based	laws	and	regulations	including,	but	not	limited	to,	anti-money	laundering	and	customer	privacy.		Additionally,	colleagues	engaged	in	lending	activities	receive	training	for	laws	and	regulations	related	to	flood	disaster	protection,	equal	credit	opportunity,	fair	lending,	and/or	other	courses	related	to	the	extension	of	credit.		We	set	a	high	standard	of	expectation	for	adherence	to	compliance	management	and	seek	to	continuously	enhance	our	performance.Capital(This	section	should	be	read	in	conjunction	with	the	“Regulatory	Matters”	section	included	in	Part	I,	Item	1:	Business	and	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements.)Both	regulatory	capital	and	shareholders’	equity	are	managed	at	the	Bank	and	on	a	consolidated	basis.		We	have	an	active	program	for	managing	capital	and	maintain	a	comprehensive	process	for	assessing	the	Company’s	overall	capital	adequacy.		We	believe	our	current	levels	of	both	regulatory	capital	and	shareholders’	equity	are	adequate.The	U.S.	federal	banking	regulatory	agencies	have	permitted	BHCs	and	banks	to	phase-in,	for	regulatory	capital	purposes,	the	day-one	impact	of	the	new	CECL	accounting	rule	on	retained	earnings	over	a	period	of	three	years.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	regulatory	agencies	issued	a	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	has	elected	to	adopt	the	final	rule,	which	is	reflected	in	the	regulatory	capital	data	presented	below.	84					Huntington	Bancshares	IncorporatedRegulatory	CapitalWe	are	subject	to	the	Basel	III	capital	requirements	including	the	standardized	approach	for	calculating	risk-weighted	assets	in	accordance	with	subpart	D	of	the	final	capital	rule.		The	following	table	presents	risk-weighted	assets	and	other	financial	data	necessary	to	calculate	certain	financial	ratios,	including	CET1,	which	we	use	to	measure	capital	adequacy.	Table	25	-	Capital	Under	Current	Regulatory	Standards	(Basel	III)		At	December	31,(dollar	amounts	in	millions)20202019CET	1	risk-based	capital	ratio:Total	shareholders’	equity$	12,992		11,795	Regulatory	capital	adjustments:CECL	transitional	amount	(1)	453	 — Shareholders’	preferred	equity	and	related	surplus	(2,196)		(1,207)	Accumulated	other	comprehensive	loss	(income)	offset	(192)		256	Goodwill	and	other	intangibles,	net	of	taxes	(2,107)		(2,153)	Deferred	tax	assets	that	arise	from	tax	loss	and	credit	carryforwards	(63)		(44)	CET	1	capital	8,887		8,647	Additional	tier	1	capitalShareholders’	preferred	equity	and	related	surplus	2,196		1,207	Tier	1	capital	11,083		9,854	Long-term	debt	and	other	tier	2	qualifying	instruments	660		672	Qualifying	allowance	for	loan	and	lease	losses	1,113		887	Total	risk-based	capital$	12,856	$	11,413	Risk-weighted	assets	(RWA)$	88,878	$	87,512	CET	1	risk-based	capital	ratio	10.00	%	9.88	%Other	regulatory	capital	data:Tier	1	risk-based	capital	ratio	12.47		11.26	Total	risk-based	capital	ratio	14.46		13.04	Tier	1	leverage	ratio	9.32		9.62	(1)The	CECL	transitional	amount	includes	the	impact	of	Huntington's	adoption	of	the	new	CECL	accounting	standard	on	January	1,	2020	and	25	percent	of	the	increase	in	reserves	from	January	1,	2020	through	December	31,	2020.Table	26	-	Capital	Adequacy—Non-Regulatory	(Non-GAAP)(dollar	amounts	in	millions)At	December	31,20202019Consolidated	capital	calculations:Common	shareholders’	equity$	10,800	$	10,592	Preferred	shareholders’	equity	2,192		1,203	Total	shareholders’	equity	12,992		11,795	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		—	Total	tangible	equity	10,851		9,805	Preferred	shareholders’	equity	(2,192)		(1,203)	Total	tangible	common	equity$	8,659	$	8,602	Total	assets$	123,038	$	109,002	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		(183)	Total	tangible	assets$	120,897	$	106,829	Tangible	equity	/	tangible	asset	ratio	8.98	%	9.01	%Tangible	common	equity	/	tangible	asset	ratio	7.16		7.88	Tangible	common	equity	/	RWA	ratio	9.74		9.62	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					85ensuring	that	recommendations	are	developed	to	address	the	identified	issues.		In	addition,	we	have	a	Model	Risk	Oversight	Committee	that	is	responsible	for	policies	and	procedures	describing	how	model	risk	is	evaluated	and	managed	and	the	application	of	the	governance	process	to	implement	these	practices	throughout	the	enterprise.		These	committees	report	any	significant	findings	and	remediation	recommendations	to	the	Risk	Management	Committee.		Potential	concerns	may	be	escalated	to	our	ROC	and	the	Audit	Committee,	as	appropriate.		Significant	findings	or	issues	are	escalated	by	the	Third	Party	Risk	Management	Committee	to	the	Technology	Committee	of	the	Board,	as	appropriate.	The	goal	of	this	framework	is	to	implement	effective	operational	risk-monitoring	techniques	and	strategies;	minimize	operational,	fraud,	and	legal	losses;	minimize	the	impact	of	inadequately	designed	models	and	enhance	our	overall	performance.Compliance	RiskFinancial	institutions	are	subject	to	many	laws,	rules,	and	regulations	at	both	the	federal	and	state	levels.		These	broad-based	laws,	rules,	and	regulations	include,	but	are	not	limited	to,	expectations	relating	to	anti-money	laundering,	lending	limits,	client	privacy,	fair	lending,	prohibitions	against	unfair,	deceptive	or	abusive	acts	or	practices,	protections	for	military	members	as	they	enter	active	duty,	and	community	reinvestment.		The	volume	and	complexity	of	recent	regulatory	changes	have	increased	our	overall	compliance	risk.		As	such,	we	utilize	various	resources	to	help	ensure	expectations	are	met,	including	a	team	of	compliance	experts	dedicated	to	ensuring	our	conformance	with	all	applicable	laws,	rules,	and	regulations.		Our	colleagues	receive	training	for	several	broad-based	laws	and	regulations	including,	but	not	limited	to,	anti-money	laundering	and	customer	privacy.		Additionally,	colleagues	engaged	in	lending	activities	receive	training	for	laws	and	regulations	related	to	flood	disaster	protection,	equal	credit	opportunity,	fair	lending,	and/or	other	courses	related	to	the	extension	of	credit.		We	set	a	high	standard	of	expectation	for	adherence	to	compliance	management	and	seek	to	continuously	enhance	our	performance.Capital(This	section	should	be	read	in	conjunction	with	the	“Regulatory	Matters”	section	included	in	Part	I,	Item	1:	Business	and	Note	24	-	“Other	Regulatory	Matters”	of	the	Notes	to	Consolidated	Financial	Statements.)Both	regulatory	capital	and	shareholders’	equity	are	managed	at	the	Bank	and	on	a	consolidated	basis.		We	have	an	active	program	for	managing	capital	and	maintain	a	comprehensive	process	for	assessing	the	Company’s	overall	capital	adequacy.		We	believe	our	current	levels	of	both	regulatory	capital	and	shareholders’	equity	are	adequate.The	U.S.	federal	banking	regulatory	agencies	have	permitted	BHCs	and	banks	to	phase-in,	for	regulatory	capital	purposes,	the	day-one	impact	of	the	new	CECL	accounting	rule	on	retained	earnings	over	a	period	of	three	years.		As	part	of	its	response	to	the	impact	of	COVID-19,	the	U.S.	federal	banking	regulatory	agencies	issued	a	final	rule	that	provides	the	option	to	temporarily	delay	certain	effects	of	CECL	on	regulatory	capital	for	two	years,	followed	by	a	three-year	transition	period.		The	final	rule	allows	BHCs	and	banks	to	delay	for	two	years	100%	of	the	day-one	impact	of	adopting	CECL	and	25%	of	the	cumulative	change	in	the	reported	allowance	for	credit	losses	since	adopting	CECL.		Huntington	has	elected	to	adopt	the	final	rule,	which	is	reflected	in	the	regulatory	capital	data	presented	below.	84					Huntington	Bancshares	IncorporatedRegulatory	CapitalWe	are	subject	to	the	Basel	III	capital	requirements	including	the	standardized	approach	for	calculating	risk-weighted	assets	in	accordance	with	subpart	D	of	the	final	capital	rule.		The	following	table	presents	risk-weighted	assets	and	other	financial	data	necessary	to	calculate	certain	financial	ratios,	including	CET1,	which	we	use	to	measure	capital	adequacy.	Table	25	-	Capital	Under	Current	Regulatory	Standards	(Basel	III)		At	December	31,(dollar	amounts	in	millions)20202019CET	1	risk-based	capital	ratio:Total	shareholders’	equity$	12,992		11,795	Regulatory	capital	adjustments:CECL	transitional	amount	(1)	453	 — Shareholders’	preferred	equity	and	related	surplus	(2,196)		(1,207)	Accumulated	other	comprehensive	loss	(income)	offset	(192)		256	Goodwill	and	other	intangibles,	net	of	taxes	(2,107)		(2,153)	Deferred	tax	assets	that	arise	from	tax	loss	and	credit	carryforwards	(63)		(44)	CET	1	capital	8,887		8,647	Additional	tier	1	capitalShareholders’	preferred	equity	and	related	surplus	2,196		1,207	Tier	1	capital	11,083		9,854	Long-term	debt	and	other	tier	2	qualifying	instruments	660		672	Qualifying	allowance	for	loan	and	lease	losses	1,113		887	Total	risk-based	capital$	12,856	$	11,413	Risk-weighted	assets	(RWA)$	88,878	$	87,512	CET	1	risk-based	capital	ratio	10.00	%	9.88	%Other	regulatory	capital	data:Tier	1	risk-based	capital	ratio	12.47		11.26	Total	risk-based	capital	ratio	14.46		13.04	Tier	1	leverage	ratio	9.32		9.62	(1)The	CECL	transitional	amount	includes	the	impact	of	Huntington's	adoption	of	the	new	CECL	accounting	standard	on	January	1,	2020	and	25	percent	of	the	increase	in	reserves	from	January	1,	2020	through	December	31,	2020.Table	26	-	Capital	Adequacy—Non-Regulatory	(Non-GAAP)(dollar	amounts	in	millions)At	December	31,20202019Consolidated	capital	calculations:Common	shareholders’	equity$	10,800	$	10,592	Preferred	shareholders’	equity	2,192		1,203	Total	shareholders’	equity	12,992		11,795	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		—	Total	tangible	equity	10,851		9,805	Preferred	shareholders’	equity	(2,192)		(1,203)	Total	tangible	common	equity$	8,659	$	8,602	Total	assets$	123,038	$	109,002	Goodwill	(1,990)		(1,990)	Other	intangible	assets	(1)	(151)		(183)	Total	tangible	assets$	120,897	$	106,829	Tangible	equity	/	tangible	asset	ratio	8.98	%	9.01	%Tangible	common	equity	/	tangible	asset	ratio	7.16		7.88	Tangible	common	equity	/	RWA	ratio	9.74		9.62	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					85The	following	table	presents	certain	regulatory	capital	data	at	both	the	consolidated	and	Bank	levels	for	each	of	the	periods	presented:Table	27	-	Regulatory	Capital	Data	(1)At	December	31,(dollar	amounts	in	millions)	Basel	III	20202019Total	risk-weighted	assetsConsolidated$	88,878	$	87,512	Bank	88,601		87,298	CET	1	risk-based	capitalConsolidated	8,887		8,647	Bank	9,438		9,747	Tier	1	risk-based	capitalConsolidated	11,083		9,854	Bank	10,601		10,621	Tier	2	risk-based	capitalConsolidated	1,774		1,559	Bank	1,431		1,243	Total	risk-based	capitalConsolidated	12,856		11,413	Bank	12,032		11,864	CET	1	risk-based	capital	ratioConsolidated	10.00	%	9.88	%Bank	10.65		11.17	Tier	1	risk-based	capital	ratioConsolidated	12.47		11.26	Bank	11.97		12.17	Total	risk-based	capital	ratioConsolidated	14.46		13.04	Bank	13.58		13.59	Tier	1	leverage	ratioConsolidated	9.32		9.26	Bank	8.94		10.01	At	December	31,	2020,	we	maintained	Basel	III	capital	ratios	in	excess	of	the	well-capitalized	standards	established	by	the	FRB.		The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	offset	by	a	change	in	asset	mix	during	2020	related	to	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition,	was	largely	offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	and	total	risk-based	capital	ratios	also	reflect	the	issuance	of	$500	million	of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	respectively.Shareholders’	EquityWe	generate	shareholders’	equity	primarily	through	the	retention	of	earnings,	net	of	dividends	and	share	repurchases.		Other	potential	sources	of	shareholders’	equity	include	issuances	of	common	and	preferred	stock.		Our	objective	is	to	maintain	capital	at	an	amount	commensurate	with	our	risk	profile	and	risk	tolerance	objectives,	to	meet	both	regulatory	and	market	expectations,	and	to	provide	the	flexibility	needed	for	future	growth	and	business	opportunities.	Shareholders’	equity	totaled	$13.0	billion	at	December	31,	2020,	an	increase	of	$1.2	billion	or	10%	when	compared	with	December	31,	2019	due	to	the	issuance	of	$500	million	of	Series	F	Preferred	Stock	and	$500	million	of	Series	G	Preferred	Stock	in	the	2020	second	quarter	and	third	quarter,	respectively.	On	February	2,	2021,	Huntington	issued	$500	million		of	preferred	stock.	Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).	On	June	25,	2020,	we	were	notified	by	the	FRB	that	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	resubmit	their	capital	plans	because	of	changes	in	financial	markets	and	the	macroeconomic	outlook	that	could	have	a	material	impact	on	the	BHC’s	risk	profile	and	financial	condition	required	the	use	of	updated	scenarios.		On	December	18,	2020,	we	were	notified	by	the	FRB	that	under	both	of	the	severely	adverse	and	the	alternative	severely	adverse	economic	stress	scenarios	in	the	supervisory	stress	tests,	our	modeled	capital	ratios	86					Huntington	Bancshares	Incorporatedwould	continue	to	exceed	the	minimum	requirements	under	the	FRB's	capital	adequacy	rules.		In	addition,	the	FRB	announced	that	they	were	extending,	through	March	31,	2021,	the	time	period	for	the	FRB	to	notify	certain	large	BHCs,	including	Huntington,	whether	the	FRB	will	recalculate	BHC’s	stress	capital	buffer.	The	FRB	also	announced	that	certain	large	BHCs,	including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	Bank's	average	net	income	for	the	four	preceding	quarters.		Our	first	quarter	dividend	that	was	declared	by	the	Board	of	Directors	on	January	22,	2021	complies	with	these	limits.		The	FRB	will	conduct	additional	analysis	each	quarter	to	determine	if	the	restrictions	on	first	quarter	capital	distributions	should	be	extended	to	future	quarters.	DividendsWe	consider	disciplined	capital	management	as	a	key	objective,	with	dividends	representing	one	component.		Our	strong	capital	ratios	position	us	to	take	advantage	of	additional	capital	management	opportunities.Share	RepurchasesFrom	time	to	time	the	Board	of	Directors	authorizes	the	Company	to	repurchase	shares	of	our	common	stock.		Although	we	announce	when	the	Board	of	Directors	authorizes	share	repurchases,	we	typically	do	not	give	any	public	notice	before	we	repurchase	our	shares.		Future	stock	repurchases	may	be	private	or	open-market	repurchases,	including	block	transactions,	accelerated	or	delayed	block	transactions,	forward	transactions,	and	similar	transactions.		Various	factors	determine	the	amount	and	timing	of	our	share	repurchases,	including	our	capital	requirements,	the	number	of	shares	we	expect	to	issue	for	employee	benefit	plans	and	acquisitions,	market	conditions	(including	the	trading	price	of	our	stock),	and	regulatory	and	legal	considerations.BUSINESS	SEGMENT	DISCUSSIONOverviewOur	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	monitor	results	and	assess	performance.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		Business	segment	results	are	determined	based	upon	our	management	practices,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	our	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.	For	a	discussion	of	business	segment	trends	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Business	Segment	Discussion	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Revenue	SharingRevenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.2020	Form	10-K					87The	following	table	presents	certain	regulatory	capital	data	at	both	the	consolidated	and	Bank	levels	for	each	of	the	periods	presented:Table	27	-	Regulatory	Capital	Data	(1)At	December	31,(dollar	amounts	in	millions)	Basel	III	20202019Total	risk-weighted	assetsConsolidated$	88,878	$	87,512	Bank	88,601		87,298	CET	1	risk-based	capitalConsolidated	8,887		8,647	Bank	9,438		9,747	Tier	1	risk-based	capitalConsolidated	11,083		9,854	Bank	10,601		10,621	Tier	2	risk-based	capitalConsolidated	1,774		1,559	Bank	1,431		1,243	Total	risk-based	capitalConsolidated	12,856		11,413	Bank	12,032		11,864	CET	1	risk-based	capital	ratioConsolidated	10.00	%	9.88	%Bank	10.65		11.17	Tier	1	risk-based	capital	ratioConsolidated	12.47		11.26	Bank	11.97		12.17	Total	risk-based	capital	ratioConsolidated	14.46		13.04	Bank	13.58		13.59	Tier	1	leverage	ratioConsolidated	9.32		9.26	Bank	8.94		10.01	At	December	31,	2020,	we	maintained	Basel	III	capital	ratios	in	excess	of	the	well-capitalized	standards	established	by	the	FRB.		The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	offset	by	a	change	in	asset	mix	during	2020	related	to	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition,	was	largely	offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	and	total	risk-based	capital	ratios	also	reflect	the	issuance	of	$500	million	of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	respectively.Shareholders’	EquityWe	generate	shareholders’	equity	primarily	through	the	retention	of	earnings,	net	of	dividends	and	share	repurchases.		Other	potential	sources	of	shareholders’	equity	include	issuances	of	common	and	preferred	stock.		Our	objective	is	to	maintain	capital	at	an	amount	commensurate	with	our	risk	profile	and	risk	tolerance	objectives,	to	meet	both	regulatory	and	market	expectations,	and	to	provide	the	flexibility	needed	for	future	growth	and	business	opportunities.	Shareholders’	equity	totaled	$13.0	billion	at	December	31,	2020,	an	increase	of	$1.2	billion	or	10%	when	compared	with	December	31,	2019	due	to	the	issuance	of	$500	million	of	Series	F	Preferred	Stock	and	$500	million	of	Series	G	Preferred	Stock	in	the	2020	second	quarter	and	third	quarter,	respectively.	On	February	2,	2021,	Huntington	issued	$500	million		of	preferred	stock.	Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).	On	June	25,	2020,	we	were	notified	by	the	FRB	that	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	resubmit	their	capital	plans	because	of	changes	in	financial	markets	and	the	macroeconomic	outlook	that	could	have	a	material	impact	on	the	BHC’s	risk	profile	and	financial	condition	required	the	use	of	updated	scenarios.		On	December	18,	2020,	we	were	notified	by	the	FRB	that	under	both	of	the	severely	adverse	and	the	alternative	severely	adverse	economic	stress	scenarios	in	the	supervisory	stress	tests,	our	modeled	capital	ratios	86					Huntington	Bancshares	Incorporatedwould	continue	to	exceed	the	minimum	requirements	under	the	FRB's	capital	adequacy	rules.		In	addition,	the	FRB	announced	that	they	were	extending,	through	March	31,	2021,	the	time	period	for	the	FRB	to	notify	certain	large	BHCs,	including	Huntington,	whether	the	FRB	will	recalculate	BHC’s	stress	capital	buffer.	The	FRB	also	announced	that	certain	large	BHCs,	including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	Bank's	average	net	income	for	the	four	preceding	quarters.		Our	first	quarter	dividend	that	was	declared	by	the	Board	of	Directors	on	January	22,	2021	complies	with	these	limits.		The	FRB	will	conduct	additional	analysis	each	quarter	to	determine	if	the	restrictions	on	first	quarter	capital	distributions	should	be	extended	to	future	quarters.	DividendsWe	consider	disciplined	capital	management	as	a	key	objective,	with	dividends	representing	one	component.		Our	strong	capital	ratios	position	us	to	take	advantage	of	additional	capital	management	opportunities.Share	RepurchasesFrom	time	to	time	the	Board	of	Directors	authorizes	the	Company	to	repurchase	shares	of	our	common	stock.		Although	we	announce	when	the	Board	of	Directors	authorizes	share	repurchases,	we	typically	do	not	give	any	public	notice	before	we	repurchase	our	shares.		Future	stock	repurchases	may	be	private	or	open-market	repurchases,	including	block	transactions,	accelerated	or	delayed	block	transactions,	forward	transactions,	and	similar	transactions.		Various	factors	determine	the	amount	and	timing	of	our	share	repurchases,	including	our	capital	requirements,	the	number	of	shares	we	expect	to	issue	for	employee	benefit	plans	and	acquisitions,	market	conditions	(including	the	trading	price	of	our	stock),	and	regulatory	and	legal	considerations.BUSINESS	SEGMENT	DISCUSSIONOverviewOur	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	monitor	results	and	assess	performance.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		Business	segment	results	are	determined	based	upon	our	management	practices,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	our	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.	For	a	discussion	of	business	segment	trends	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Business	Segment	Discussion	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Revenue	SharingRevenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.2020	Form	10-K					87The	following	table	presents	certain	regulatory	capital	data	at	both	the	consolidated	and	Bank	levels	for	each	of	the	periods	presented:Table	27	-	Regulatory	Capital	Data	(1)At	December	31,(dollar	amounts	in	millions)	Basel	III	20202019Total	risk-weighted	assetsConsolidated$	88,878	$	87,512	Bank	88,601		87,298	CET	1	risk-based	capitalConsolidated	8,887		8,647	Bank	9,438		9,747	Tier	1	risk-based	capitalConsolidated	11,083		9,854	Bank	10,601		10,621	Tier	2	risk-based	capitalConsolidated	1,774		1,559	Bank	1,431		1,243	Total	risk-based	capitalConsolidated	12,856		11,413	Bank	12,032		11,864	CET	1	risk-based	capital	ratioConsolidated	10.00	%	9.88	%Bank	10.65		11.17	Tier	1	risk-based	capital	ratioConsolidated	12.47		11.26	Bank	11.97		12.17	Total	risk-based	capital	ratioConsolidated	14.46		13.04	Bank	13.58		13.59	Tier	1	leverage	ratioConsolidated	9.32		9.26	Bank	8.94		10.01	At	December	31,	2020,	we	maintained	Basel	III	capital	ratios	in	excess	of	the	well-capitalized	standards	established	by	the	FRB.		The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	offset	by	a	change	in	asset	mix	during	2020	related	to	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition,	was	largely	offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	and	total	risk-based	capital	ratios	also	reflect	the	issuance	of	$500	million	of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	respectively.Shareholders’	EquityWe	generate	shareholders’	equity	primarily	through	the	retention	of	earnings,	net	of	dividends	and	share	repurchases.		Other	potential	sources	of	shareholders’	equity	include	issuances	of	common	and	preferred	stock.		Our	objective	is	to	maintain	capital	at	an	amount	commensurate	with	our	risk	profile	and	risk	tolerance	objectives,	to	meet	both	regulatory	and	market	expectations,	and	to	provide	the	flexibility	needed	for	future	growth	and	business	opportunities.	Shareholders’	equity	totaled	$13.0	billion	at	December	31,	2020,	an	increase	of	$1.2	billion	or	10%	when	compared	with	December	31,	2019	due	to	the	issuance	of	$500	million	of	Series	F	Preferred	Stock	and	$500	million	of	Series	G	Preferred	Stock	in	the	2020	second	quarter	and	third	quarter,	respectively.	On	February	2,	2021,	Huntington	issued	$500	million		of	preferred	stock.	Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).	On	June	25,	2020,	we	were	notified	by	the	FRB	that	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	resubmit	their	capital	plans	because	of	changes	in	financial	markets	and	the	macroeconomic	outlook	that	could	have	a	material	impact	on	the	BHC’s	risk	profile	and	financial	condition	required	the	use	of	updated	scenarios.		On	December	18,	2020,	we	were	notified	by	the	FRB	that	under	both	of	the	severely	adverse	and	the	alternative	severely	adverse	economic	stress	scenarios	in	the	supervisory	stress	tests,	our	modeled	capital	ratios	86					Huntington	Bancshares	Incorporatedwould	continue	to	exceed	the	minimum	requirements	under	the	FRB's	capital	adequacy	rules.		In	addition,	the	FRB	announced	that	they	were	extending,	through	March	31,	2021,	the	time	period	for	the	FRB	to	notify	certain	large	BHCs,	including	Huntington,	whether	the	FRB	will	recalculate	BHC’s	stress	capital	buffer.	The	FRB	also	announced	that	certain	large	BHCs,	including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	Bank's	average	net	income	for	the	four	preceding	quarters.		Our	first	quarter	dividend	that	was	declared	by	the	Board	of	Directors	on	January	22,	2021	complies	with	these	limits.		The	FRB	will	conduct	additional	analysis	each	quarter	to	determine	if	the	restrictions	on	first	quarter	capital	distributions	should	be	extended	to	future	quarters.	DividendsWe	consider	disciplined	capital	management	as	a	key	objective,	with	dividends	representing	one	component.		Our	strong	capital	ratios	position	us	to	take	advantage	of	additional	capital	management	opportunities.Share	RepurchasesFrom	time	to	time	the	Board	of	Directors	authorizes	the	Company	to	repurchase	shares	of	our	common	stock.		Although	we	announce	when	the	Board	of	Directors	authorizes	share	repurchases,	we	typically	do	not	give	any	public	notice	before	we	repurchase	our	shares.		Future	stock	repurchases	may	be	private	or	open-market	repurchases,	including	block	transactions,	accelerated	or	delayed	block	transactions,	forward	transactions,	and	similar	transactions.		Various	factors	determine	the	amount	and	timing	of	our	share	repurchases,	including	our	capital	requirements,	the	number	of	shares	we	expect	to	issue	for	employee	benefit	plans	and	acquisitions,	market	conditions	(including	the	trading	price	of	our	stock),	and	regulatory	and	legal	considerations.BUSINESS	SEGMENT	DISCUSSIONOverviewOur	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	monitor	results	and	assess	performance.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		Business	segment	results	are	determined	based	upon	our	management	practices,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	our	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.	For	a	discussion	of	business	segment	trends	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Business	Segment	Discussion	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Revenue	SharingRevenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.2020	Form	10-K					87The	following	table	presents	certain	regulatory	capital	data	at	both	the	consolidated	and	Bank	levels	for	each	of	the	periods	presented:Table	27	-	Regulatory	Capital	Data	(1)At	December	31,(dollar	amounts	in	millions)	Basel	III	20202019Total	risk-weighted	assetsConsolidated$	88,878	$	87,512	Bank	88,601		87,298	CET	1	risk-based	capitalConsolidated	8,887		8,647	Bank	9,438		9,747	Tier	1	risk-based	capitalConsolidated	11,083		9,854	Bank	10,601		10,621	Tier	2	risk-based	capitalConsolidated	1,774		1,559	Bank	1,431		1,243	Total	risk-based	capitalConsolidated	12,856		11,413	Bank	12,032		11,864	CET	1	risk-based	capital	ratioConsolidated	10.00	%	9.88	%Bank	10.65		11.17	Tier	1	risk-based	capital	ratioConsolidated	12.47		11.26	Bank	11.97		12.17	Total	risk-based	capital	ratioConsolidated	14.46		13.04	Bank	13.58		13.59	Tier	1	leverage	ratioConsolidated	9.32		9.26	Bank	8.94		10.01	At	December	31,	2020,	we	maintained	Basel	III	capital	ratios	in	excess	of	the	well-capitalized	standards	established	by	the	FRB.		The	balance	sheet	growth	impact	on	regulatory	capital	ratios	was	largely	offset	by	a	change	in	asset	mix	during	2020	related	to	PPP	loans	and	elevated	deposits	at	the	Federal	Reserve,	both	of	which	are	0%	risk	weighted.		The	capital	impact	of	earnings,	adjusted	for	the	CECL	transition,	was	largely	offset	by	the	repurchase	of	$92	million	of	common	stock	over	the	last	four	quarters	(primarily	in	the	2020	first	quarter)	and	cash	dividends.		The	regulatory	Tier	1	risk-based	capital	and	total	risk-based	capital	ratios	also	reflect	the	issuance	of	$500	million	of	Series	F	preferred	stock	and	$500	million	of	Series	G	preferred	stock	in	the	2020	second	quarter	and	third	quarter,	respectively.Shareholders’	EquityWe	generate	shareholders’	equity	primarily	through	the	retention	of	earnings,	net	of	dividends	and	share	repurchases.		Other	potential	sources	of	shareholders’	equity	include	issuances	of	common	and	preferred	stock.		Our	objective	is	to	maintain	capital	at	an	amount	commensurate	with	our	risk	profile	and	risk	tolerance	objectives,	to	meet	both	regulatory	and	market	expectations,	and	to	provide	the	flexibility	needed	for	future	growth	and	business	opportunities.	Shareholders’	equity	totaled	$13.0	billion	at	December	31,	2020,	an	increase	of	$1.2	billion	or	10%	when	compared	with	December	31,	2019	due	to	the	issuance	of	$500	million	of	Series	F	Preferred	Stock	and	$500	million	of	Series	G	Preferred	Stock	in	the	2020	second	quarter	and	third	quarter,	respectively.	On	February	2,	2021,	Huntington	issued	$500	million		of	preferred	stock.	Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).	On	June	25,	2020,	we	were	notified	by	the	FRB	that	certain	large	BHCs,	including	Huntington,	were	required	to	update	and	resubmit	their	capital	plans	because	of	changes	in	financial	markets	and	the	macroeconomic	outlook	that	could	have	a	material	impact	on	the	BHC’s	risk	profile	and	financial	condition	required	the	use	of	updated	scenarios.		On	December	18,	2020,	we	were	notified	by	the	FRB	that	under	both	of	the	severely	adverse	and	the	alternative	severely	adverse	economic	stress	scenarios	in	the	supervisory	stress	tests,	our	modeled	capital	ratios	86					Huntington	Bancshares	Incorporatedwould	continue	to	exceed	the	minimum	requirements	under	the	FRB's	capital	adequacy	rules.		In	addition,	the	FRB	announced	that	they	were	extending,	through	March	31,	2021,	the	time	period	for	the	FRB	to	notify	certain	large	BHCs,	including	Huntington,	whether	the	FRB	will	recalculate	BHC’s	stress	capital	buffer.	The	FRB	also	announced	that	certain	large	BHCs,	including	Huntington,	will	be	permitted	to	make	both	dividend	and	share	repurchases	during	the	first	quarter	of	2021,	subject	to	limits	based	on	the	amount	of	dividends	paid	in	the	second	quarter	of	2020	and	the	Bank's	average	net	income	for	the	four	preceding	quarters.		Our	first	quarter	dividend	that	was	declared	by	the	Board	of	Directors	on	January	22,	2021	complies	with	these	limits.		The	FRB	will	conduct	additional	analysis	each	quarter	to	determine	if	the	restrictions	on	first	quarter	capital	distributions	should	be	extended	to	future	quarters.	DividendsWe	consider	disciplined	capital	management	as	a	key	objective,	with	dividends	representing	one	component.		Our	strong	capital	ratios	position	us	to	take	advantage	of	additional	capital	management	opportunities.Share	RepurchasesFrom	time	to	time	the	Board	of	Directors	authorizes	the	Company	to	repurchase	shares	of	our	common	stock.		Although	we	announce	when	the	Board	of	Directors	authorizes	share	repurchases,	we	typically	do	not	give	any	public	notice	before	we	repurchase	our	shares.		Future	stock	repurchases	may	be	private	or	open-market	repurchases,	including	block	transactions,	accelerated	or	delayed	block	transactions,	forward	transactions,	and	similar	transactions.		Various	factors	determine	the	amount	and	timing	of	our	share	repurchases,	including	our	capital	requirements,	the	number	of	shares	we	expect	to	issue	for	employee	benefit	plans	and	acquisitions,	market	conditions	(including	the	trading	price	of	our	stock),	and	regulatory	and	legal	considerations.BUSINESS	SEGMENT	DISCUSSIONOverviewOur	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	we	monitor	results	and	assess	performance.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		Business	segment	results	are	determined	based	upon	our	management	practices,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	our	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.	For	a	discussion	of	business	segment	trends	for	2019	versus	2018,	see	“Part	II,	Item	7:	Management’s	Discussion	and	Analysis	of	Financial	Condition	and	Results	of	Operations”	Business	Segment	Discussion	included	in	our	2019	Form	10-K,	filed	with	the	SEC	on	February	14,	2020.Revenue	SharingRevenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.2020	Form	10-K					87Expense	AllocationThe	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		We	utilize	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses	and	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.Funds	Transfer	Pricing	(FTP)We	use	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Net	Income	by	Business	SegmentNet	income	by	business	segment	for	the	past	three	years	is	presented	in	the	following	table:Table	28	-	Net	Income	by	Business	SegmentYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Consumer	and	Business	Banking$	270	$	635	$	502	Commercial	Banking	78		553		624	Vehicle	Finance	120		172		162	RBHPCG	85		113		119	Treasury	/	Other	264		(62)		(14)	Net	income$	817	$	1,411	$	1,393	Treasury	/	Other	The	Treasury	/	Other	function	includes	revenue	and	expense	related	to	assets,	liabilities,	derivatives	and	equity	not	directly	assigned	or	allocated	to	one	of	the	four	business	segments.		Assets	include	investment	securities	and	bank	owned	life	insurance.		Net	interest	income	includes	the	impact	of	administering	our	investment	securities	portfolios,	the	net	impact	of	derivatives	used	to	hedge	interest	rate	sensitivity	as	well	as	the	financial	impact	associated	with	our	FTP	methodology,	as	described	above.		Noninterest	income	includes	miscellaneous	fee	income	not	allocated	to	other	business	segments,	such	as	bank	owned	life	insurance	income	and	securities	and	trading	asset	gains	or	losses.		Noninterest	expense	includes	certain	corporate	administrative,	and	other	miscellaneous	expenses	not	allocated	to	other	business	segments.		The	provision	for	income	taxes	for	the	business	segments	is	calculated	at	a	statutory	21%	tax	rate,	although	our	overall	effective	tax	rate	is	lower.88					Huntington	Bancshares	IncorporatedConsumer	and	Business	BankingTable	29	-	Key	Performance	Indicators	for	Consumer	and	Business	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	1,436	$	1,766	$	(330)		(19)	%$	1,727	Provision	for	credit	losses	265		114		151		132		137	Noninterest	income	945		825		120		15		744	Noninterest	expense	1,774		1,673		101		6		1,699	Provision	for	income	taxes	72		169		(97)		(57)		133	Net	income$	270	$	635	$	(365)		(57)	%$	502	Number	of	employees	(average	full-time	equivalent)	7,908		8,000		(92)		(1)	%	8,348	Total	average	assets$	28,853	$	25,411	$	3,442		14	$	25,147	Total	average	loans/leases	25,453		22,130		3,323		15		22,037	Total	average	deposits	56,960		51,645		5,315		10		47,782	Net	interest	margin	2.48	%	3.37	%	(0.89)	%	(26)		3.56	%NCOs$	102	$	128	$	(26)		(20)	$	108	NCOs	as	a	%	of	average	loans	and	leases	0.40	%	0.58	%	(0.18)	%	(31)		0.49	%2020	versus	2019	Consumer	and	Business	Banking,	including	Home	Lending,	reported	net	income	of	$270	million	in	2020,	a	decrease	of	$365	million,	or	57%,	compared	with	net	income	of	$635	million	in	2019.		Segment	net	interest	income	decreased	$330	million,	or	19%,	due	to	decreased	spread	on	deposits.		The	provision	for	credit	losses	increased	$151	million,	or	132%	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic.		Noninterest	income	increased	$120	million,	or	15%,	primarily	due	to	increased	mortgage	banking	income,	partially	offset	by	lower	service	charge	income	reflecting	reduced	customer	activity	and	elevated	deposit	levels.		Noninterest	expense	increased	$101	million,	or	6%,	due	to	increased	personnel	and	allocated	overhead,	slightly	offset	by	lower	occupancy	and	equipment	expense	as	a	result	of	branch	consolidations	and	divestitures,	along	with	decreased	travel.Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	reflects	the	result	of	the	origination,	sale,	and	servicing	of	mortgage	loans	less	referral	fees	and	net	interest	income	for	mortgage	banking	products	distributed	by	the	retail	branch	network	and	other	business	segments.		Home	Lending	reported	net	income	of	$78	million	in	2020,	compared	with	a	net	income	of	$23	million	in	the	prior	year.		Noninterest	income	increased	$179	million,	driven	primarily	by	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Noninterest	expense	increased	$80	million	due	to	higher	personnel	expense	as	a	result	of	higher	origination	volumes.	Commercial	BankingTable	30	-	Key	Performance	Indicators	for	Commercial	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	903	$	1,037	$	(134)		(13)	%$	1,013	Provision	for	credit	losses	626		132		494		374		42	Noninterest	income	364		359		5		1		321	Noninterest	expense	542		564		(22)		(4)		502	Provision	for	income	taxes	21		147		(126)		(86)		166	Net	income$	78	$	553	$	(475)		(86)	%$	624	Number	of	employees	(average	full-time	equivalent)	1,276		1,317		(41)		(3)	%	1,256	Total	average	assets$	35,490	$	33,843	$	1,647		5	$	31,209	Total	average	loans/leases	27,234		27,151		83		—		26,137	Total	average	deposits	23,321		21,072		2,249		11		22,197	Net	interest	margin	3.04	%	3.49	%	(0.45)	%	(13)		3.53	%NCOs$	302	$	93	$	209		225	$	(7)	NCOs	as	a	%	of	average	loans	and	leases	1.11	%	0.34	%	0.77	%	226		(0.03)	%2020	Form	10-K					89Expense	AllocationThe	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		We	utilize	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses	and	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.Funds	Transfer	Pricing	(FTP)We	use	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Net	Income	by	Business	SegmentNet	income	by	business	segment	for	the	past	three	years	is	presented	in	the	following	table:Table	28	-	Net	Income	by	Business	SegmentYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Consumer	and	Business	Banking$	270	$	635	$	502	Commercial	Banking	78		553		624	Vehicle	Finance	120		172		162	RBHPCG	85		113		119	Treasury	/	Other	264		(62)		(14)	Net	income$	817	$	1,411	$	1,393	Treasury	/	Other	The	Treasury	/	Other	function	includes	revenue	and	expense	related	to	assets,	liabilities,	derivatives	and	equity	not	directly	assigned	or	allocated	to	one	of	the	four	business	segments.		Assets	include	investment	securities	and	bank	owned	life	insurance.		Net	interest	income	includes	the	impact	of	administering	our	investment	securities	portfolios,	the	net	impact	of	derivatives	used	to	hedge	interest	rate	sensitivity	as	well	as	the	financial	impact	associated	with	our	FTP	methodology,	as	described	above.		Noninterest	income	includes	miscellaneous	fee	income	not	allocated	to	other	business	segments,	such	as	bank	owned	life	insurance	income	and	securities	and	trading	asset	gains	or	losses.		Noninterest	expense	includes	certain	corporate	administrative,	and	other	miscellaneous	expenses	not	allocated	to	other	business	segments.		The	provision	for	income	taxes	for	the	business	segments	is	calculated	at	a	statutory	21%	tax	rate,	although	our	overall	effective	tax	rate	is	lower.88					Huntington	Bancshares	IncorporatedConsumer	and	Business	BankingTable	29	-	Key	Performance	Indicators	for	Consumer	and	Business	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	1,436	$	1,766	$	(330)		(19)	%$	1,727	Provision	for	credit	losses	265		114		151		132		137	Noninterest	income	945		825		120		15		744	Noninterest	expense	1,774		1,673		101		6		1,699	Provision	for	income	taxes	72		169		(97)		(57)		133	Net	income$	270	$	635	$	(365)		(57)	%$	502	Number	of	employees	(average	full-time	equivalent)	7,908		8,000		(92)		(1)	%	8,348	Total	average	assets$	28,853	$	25,411	$	3,442		14	$	25,147	Total	average	loans/leases	25,453		22,130		3,323		15		22,037	Total	average	deposits	56,960		51,645		5,315		10		47,782	Net	interest	margin	2.48	%	3.37	%	(0.89)	%	(26)		3.56	%NCOs$	102	$	128	$	(26)		(20)	$	108	NCOs	as	a	%	of	average	loans	and	leases	0.40	%	0.58	%	(0.18)	%	(31)		0.49	%2020	versus	2019	Consumer	and	Business	Banking,	including	Home	Lending,	reported	net	income	of	$270	million	in	2020,	a	decrease	of	$365	million,	or	57%,	compared	with	net	income	of	$635	million	in	2019.		Segment	net	interest	income	decreased	$330	million,	or	19%,	due	to	decreased	spread	on	deposits.		The	provision	for	credit	losses	increased	$151	million,	or	132%	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic.		Noninterest	income	increased	$120	million,	or	15%,	primarily	due	to	increased	mortgage	banking	income,	partially	offset	by	lower	service	charge	income	reflecting	reduced	customer	activity	and	elevated	deposit	levels.		Noninterest	expense	increased	$101	million,	or	6%,	due	to	increased	personnel	and	allocated	overhead,	slightly	offset	by	lower	occupancy	and	equipment	expense	as	a	result	of	branch	consolidations	and	divestitures,	along	with	decreased	travel.Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	reflects	the	result	of	the	origination,	sale,	and	servicing	of	mortgage	loans	less	referral	fees	and	net	interest	income	for	mortgage	banking	products	distributed	by	the	retail	branch	network	and	other	business	segments.		Home	Lending	reported	net	income	of	$78	million	in	2020,	compared	with	a	net	income	of	$23	million	in	the	prior	year.		Noninterest	income	increased	$179	million,	driven	primarily	by	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Noninterest	expense	increased	$80	million	due	to	higher	personnel	expense	as	a	result	of	higher	origination	volumes.	Commercial	BankingTable	30	-	Key	Performance	Indicators	for	Commercial	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	903	$	1,037	$	(134)		(13)	%$	1,013	Provision	for	credit	losses	626		132		494		374		42	Noninterest	income	364		359		5		1		321	Noninterest	expense	542		564		(22)		(4)		502	Provision	for	income	taxes	21		147		(126)		(86)		166	Net	income$	78	$	553	$	(475)		(86)	%$	624	Number	of	employees	(average	full-time	equivalent)	1,276		1,317		(41)		(3)	%	1,256	Total	average	assets$	35,490	$	33,843	$	1,647		5	$	31,209	Total	average	loans/leases	27,234		27,151		83		—		26,137	Total	average	deposits	23,321		21,072		2,249		11		22,197	Net	interest	margin	3.04	%	3.49	%	(0.45)	%	(13)		3.53	%NCOs$	302	$	93	$	209		225	$	(7)	NCOs	as	a	%	of	average	loans	and	leases	1.11	%	0.34	%	0.77	%	226		(0.03)	%2020	Form	10-K					89Expense	AllocationThe	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		We	utilize	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses	and	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.Funds	Transfer	Pricing	(FTP)We	use	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Net	Income	by	Business	SegmentNet	income	by	business	segment	for	the	past	three	years	is	presented	in	the	following	table:Table	28	-	Net	Income	by	Business	SegmentYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Consumer	and	Business	Banking$	270	$	635	$	502	Commercial	Banking	78		553		624	Vehicle	Finance	120		172		162	RBHPCG	85		113		119	Treasury	/	Other	264		(62)		(14)	Net	income$	817	$	1,411	$	1,393	Treasury	/	Other	The	Treasury	/	Other	function	includes	revenue	and	expense	related	to	assets,	liabilities,	derivatives	and	equity	not	directly	assigned	or	allocated	to	one	of	the	four	business	segments.		Assets	include	investment	securities	and	bank	owned	life	insurance.		Net	interest	income	includes	the	impact	of	administering	our	investment	securities	portfolios,	the	net	impact	of	derivatives	used	to	hedge	interest	rate	sensitivity	as	well	as	the	financial	impact	associated	with	our	FTP	methodology,	as	described	above.		Noninterest	income	includes	miscellaneous	fee	income	not	allocated	to	other	business	segments,	such	as	bank	owned	life	insurance	income	and	securities	and	trading	asset	gains	or	losses.		Noninterest	expense	includes	certain	corporate	administrative,	and	other	miscellaneous	expenses	not	allocated	to	other	business	segments.		The	provision	for	income	taxes	for	the	business	segments	is	calculated	at	a	statutory	21%	tax	rate,	although	our	overall	effective	tax	rate	is	lower.88					Huntington	Bancshares	IncorporatedConsumer	and	Business	BankingTable	29	-	Key	Performance	Indicators	for	Consumer	and	Business	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	1,436	$	1,766	$	(330)		(19)	%$	1,727	Provision	for	credit	losses	265		114		151		132		137	Noninterest	income	945		825		120		15		744	Noninterest	expense	1,774		1,673		101		6		1,699	Provision	for	income	taxes	72		169		(97)		(57)		133	Net	income$	270	$	635	$	(365)		(57)	%$	502	Number	of	employees	(average	full-time	equivalent)	7,908		8,000		(92)		(1)	%	8,348	Total	average	assets$	28,853	$	25,411	$	3,442		14	$	25,147	Total	average	loans/leases	25,453		22,130		3,323		15		22,037	Total	average	deposits	56,960		51,645		5,315		10		47,782	Net	interest	margin	2.48	%	3.37	%	(0.89)	%	(26)		3.56	%NCOs$	102	$	128	$	(26)		(20)	$	108	NCOs	as	a	%	of	average	loans	and	leases	0.40	%	0.58	%	(0.18)	%	(31)		0.49	%2020	versus	2019	Consumer	and	Business	Banking,	including	Home	Lending,	reported	net	income	of	$270	million	in	2020,	a	decrease	of	$365	million,	or	57%,	compared	with	net	income	of	$635	million	in	2019.		Segment	net	interest	income	decreased	$330	million,	or	19%,	due	to	decreased	spread	on	deposits.		The	provision	for	credit	losses	increased	$151	million,	or	132%	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic.		Noninterest	income	increased	$120	million,	or	15%,	primarily	due	to	increased	mortgage	banking	income,	partially	offset	by	lower	service	charge	income	reflecting	reduced	customer	activity	and	elevated	deposit	levels.		Noninterest	expense	increased	$101	million,	or	6%,	due	to	increased	personnel	and	allocated	overhead,	slightly	offset	by	lower	occupancy	and	equipment	expense	as	a	result	of	branch	consolidations	and	divestitures,	along	with	decreased	travel.Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	reflects	the	result	of	the	origination,	sale,	and	servicing	of	mortgage	loans	less	referral	fees	and	net	interest	income	for	mortgage	banking	products	distributed	by	the	retail	branch	network	and	other	business	segments.		Home	Lending	reported	net	income	of	$78	million	in	2020,	compared	with	a	net	income	of	$23	million	in	the	prior	year.		Noninterest	income	increased	$179	million,	driven	primarily	by	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Noninterest	expense	increased	$80	million	due	to	higher	personnel	expense	as	a	result	of	higher	origination	volumes.	Commercial	BankingTable	30	-	Key	Performance	Indicators	for	Commercial	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	903	$	1,037	$	(134)		(13)	%$	1,013	Provision	for	credit	losses	626		132		494		374		42	Noninterest	income	364		359		5		1		321	Noninterest	expense	542		564		(22)		(4)		502	Provision	for	income	taxes	21		147		(126)		(86)		166	Net	income$	78	$	553	$	(475)		(86)	%$	624	Number	of	employees	(average	full-time	equivalent)	1,276		1,317		(41)		(3)	%	1,256	Total	average	assets$	35,490	$	33,843	$	1,647		5	$	31,209	Total	average	loans/leases	27,234		27,151		83		—		26,137	Total	average	deposits	23,321		21,072		2,249		11		22,197	Net	interest	margin	3.04	%	3.49	%	(0.45)	%	(13)		3.53	%NCOs$	302	$	93	$	209		225	$	(7)	NCOs	as	a	%	of	average	loans	and	leases	1.11	%	0.34	%	0.77	%	226		(0.03)	%2020	Form	10-K					89Expense	AllocationThe	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		We	utilize	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses	and	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.Funds	Transfer	Pricing	(FTP)We	use	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Net	Income	by	Business	SegmentNet	income	by	business	segment	for	the	past	three	years	is	presented	in	the	following	table:Table	28	-	Net	Income	by	Business	SegmentYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Consumer	and	Business	Banking$	270	$	635	$	502	Commercial	Banking	78		553		624	Vehicle	Finance	120		172		162	RBHPCG	85		113		119	Treasury	/	Other	264		(62)		(14)	Net	income$	817	$	1,411	$	1,393	Treasury	/	Other	The	Treasury	/	Other	function	includes	revenue	and	expense	related	to	assets,	liabilities,	derivatives	and	equity	not	directly	assigned	or	allocated	to	one	of	the	four	business	segments.		Assets	include	investment	securities	and	bank	owned	life	insurance.		Net	interest	income	includes	the	impact	of	administering	our	investment	securities	portfolios,	the	net	impact	of	derivatives	used	to	hedge	interest	rate	sensitivity	as	well	as	the	financial	impact	associated	with	our	FTP	methodology,	as	described	above.		Noninterest	income	includes	miscellaneous	fee	income	not	allocated	to	other	business	segments,	such	as	bank	owned	life	insurance	income	and	securities	and	trading	asset	gains	or	losses.		Noninterest	expense	includes	certain	corporate	administrative,	and	other	miscellaneous	expenses	not	allocated	to	other	business	segments.		The	provision	for	income	taxes	for	the	business	segments	is	calculated	at	a	statutory	21%	tax	rate,	although	our	overall	effective	tax	rate	is	lower.88					Huntington	Bancshares	IncorporatedConsumer	and	Business	BankingTable	29	-	Key	Performance	Indicators	for	Consumer	and	Business	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	1,436	$	1,766	$	(330)		(19)	%$	1,727	Provision	for	credit	losses	265		114		151		132		137	Noninterest	income	945		825		120		15		744	Noninterest	expense	1,774		1,673		101		6		1,699	Provision	for	income	taxes	72		169		(97)		(57)		133	Net	income$	270	$	635	$	(365)		(57)	%$	502	Number	of	employees	(average	full-time	equivalent)	7,908		8,000		(92)		(1)	%	8,348	Total	average	assets$	28,853	$	25,411	$	3,442		14	$	25,147	Total	average	loans/leases	25,453		22,130		3,323		15		22,037	Total	average	deposits	56,960		51,645		5,315		10		47,782	Net	interest	margin	2.48	%	3.37	%	(0.89)	%	(26)		3.56	%NCOs$	102	$	128	$	(26)		(20)	$	108	NCOs	as	a	%	of	average	loans	and	leases	0.40	%	0.58	%	(0.18)	%	(31)		0.49	%2020	versus	2019	Consumer	and	Business	Banking,	including	Home	Lending,	reported	net	income	of	$270	million	in	2020,	a	decrease	of	$365	million,	or	57%,	compared	with	net	income	of	$635	million	in	2019.		Segment	net	interest	income	decreased	$330	million,	or	19%,	due	to	decreased	spread	on	deposits.		The	provision	for	credit	losses	increased	$151	million,	or	132%	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic.		Noninterest	income	increased	$120	million,	or	15%,	primarily	due	to	increased	mortgage	banking	income,	partially	offset	by	lower	service	charge	income	reflecting	reduced	customer	activity	and	elevated	deposit	levels.		Noninterest	expense	increased	$101	million,	or	6%,	due	to	increased	personnel	and	allocated	overhead,	slightly	offset	by	lower	occupancy	and	equipment	expense	as	a	result	of	branch	consolidations	and	divestitures,	along	with	decreased	travel.Home	Lending,	an	operating	unit	of	Consumer	and	Business	Banking,	reflects	the	result	of	the	origination,	sale,	and	servicing	of	mortgage	loans	less	referral	fees	and	net	interest	income	for	mortgage	banking	products	distributed	by	the	retail	branch	network	and	other	business	segments.		Home	Lending	reported	net	income	of	$78	million	in	2020,	compared	with	a	net	income	of	$23	million	in	the	prior	year.		Noninterest	income	increased	$179	million,	driven	primarily	by	higher	secondary	marketing	spreads	and	an	increase	in	salable	mortgage	originations.		Noninterest	expense	increased	$80	million	due	to	higher	personnel	expense	as	a	result	of	higher	origination	volumes.	Commercial	BankingTable	30	-	Key	Performance	Indicators	for	Commercial	Banking	Year	Ended	December	31,Change	from	2019(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	903	$	1,037	$	(134)		(13)	%$	1,013	Provision	for	credit	losses	626		132		494		374		42	Noninterest	income	364		359		5		1		321	Noninterest	expense	542		564		(22)		(4)		502	Provision	for	income	taxes	21		147		(126)		(86)		166	Net	income$	78	$	553	$	(475)		(86)	%$	624	Number	of	employees	(average	full-time	equivalent)	1,276		1,317		(41)		(3)	%	1,256	Total	average	assets$	35,490	$	33,843	$	1,647		5	$	31,209	Total	average	loans/leases	27,234		27,151		83		—		26,137	Total	average	deposits	23,321		21,072		2,249		11		22,197	Net	interest	margin	3.04	%	3.49	%	(0.45)	%	(13)		3.53	%NCOs$	302	$	93	$	209		225	$	(7)	NCOs	as	a	%	of	average	loans	and	leases	1.11	%	0.34	%	0.77	%	226		(0.03)	%2020	Form	10-K					892020	versus	2019	Commercial	Banking	reported	net	income	of	$78	million	in	2020,	a	decrease	of	$475	million,	or	86%,	compared	to	the	year	ago	period.		Segment	net	interest	income	decreased	$134	million,	or	13%,	primarily	due	to	a	45	basis	point	decrease	in	net	interest	margin	driven	by	a	sharp	decline	in	the	benefit	of	deposits.		The	provision	for	credit	losses	increased	$494	million,	or	374%,	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic,	as	well	as	an	increase	incurred	losses	largely	driven	by	oil	and	gas,	a	coal-related	credit	and	a	large	retail	mall	REIT	relationship.		Noninterest	income	increased	$5	million,	or	1%,	largely	driven	by	an	increase	in	treasury	management	related	revenue	reflecting	the	impact	of	lower	earnings	credits	on	commercial	deposit	service	charges,	partially	offset	by	a	decline	in	the	gains	on	sale	of	loans	and	leases.		Noninterest	expense	decreased	$22	million,	or	4%,	primarily	due	to	personnel	expense	reflecting	a	reduction	in	incentives	and	a	3%	reduction	in	full-time	equivalent	employees,	and	lower	travel	and	business	development	expense	as	a	result	of	COVID-19	related	shelter-in-place	ordinances,	partially	offset	by	an	increase	in	outside	data	processing	and	other	services.Vehicle	FinanceTable	31	-	Key	Performance	Indicators	for	Vehicle	Finance	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	430	$	397	$	33		8	%$	392	Provision	(reduction	in	allowance)	for	credit	losses	146		44		102		232		55	Noninterest	income	9		12		(3)		(25)		11	Noninterest	expense	141		148		(7)		(5)		143	Provision	for	income	taxes	32		45		(13)		(29)		43	Net	income$	120	$	172	$	(52)		(30)	%$	162	Number	of	employees	(average	full-time	equivalent)	266		265		1		—	%	264	Total	average	assets$	19,760	$	19,393	$	367		2	$	18,430	Total	average	loans/leases	19,939		19,466		473		2		18,484	Total	average	deposits	653		333		320		96		338	Net	interest	margin	2.15	%	2.04	%	0.11	%	5		2.12	%NCOs$	45	$	43	$	2		5	$	43	NCOs	as	a	%	of	average	loans	and	leases	0.23	%	0.22	%	0.01	%	5		0.23	%2020	versus	2019	Vehicle	Finance	reported	net	income	of	$120	million	in	2020,	a	decrease	of	$52	million,	or	30%,	compared	with	net	income	of	$172	million	in	2019.		The	decrease	was	primarily	driven	by	a	$102	million	increase	in	the	provision	for	loan	losses	due	to	the	changes	in	the	economic	outlook	as	a	result	of	the	COVID-19	pandemic.		Segment	net	interest	income	increased	$33	million	or	8%,	due	to	a	11	basis	point	increase	in	the	net	interest	margin	and	a	$0.5	billion	increase	in	average	loan	balances.		The	increase	in	average	loan	balances	reflects	strong	indirect	auto	and	RV	and	marine	originations	over	the	past	12	months	which	have	more	than	offset	lower	commercial	balances	as	a	result	of	lower	floor	plan	line	utilization.		Noninterest	income	decreased		$3	million	primarily	as	a	result	of	lower	servicing	revenue	as	the	remaining	underlying	serviced	loans	were	repurchased	during	the	latter	half	of	2020,	while	noninterest	expense	decreased	$7	million,	or	5%,	primarily	reflecting	lower	allocated	overhead.90					Huntington	Bancshares	IncorporatedRegional	Banking	and	The	Huntington	Private	Client	GroupTable	32	-	Key	Performance	Indicators	for	Regional	Banking	and	The	Huntington	Private	Client	Group	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	160	$	198	$	(38)		(19)	%$	203	Provision	(reduction	in	allowance)	for	credit	losses	11		(3)		14		467		1	Noninterest	income	201		198		3		2		193	Noninterest	expense	243		256		(13)		(5)		244	Provision	for	income	taxes	22		30		(8)		(27)		32	Net	income$	85	$	113	$	(28)		(25)	%$	119	Number	of	employees	(average	full-time	equivalent)	1,018		1,057		(39)		(4)	%	1,026	Total	average	assets$	6,845	$	6,438	$	407		6	$	5,802	Total	average	loans/leases	6,574		6,132		442		7		5,487	Total	average	deposits	6,531		5,983		548		9		5,926	Net	interest	margin	2.36	%	3.18	%	(0.82)	%	(26)		3.32	%NCOs$	—	$	1	$	(1)		(100)	$	—	NCOs	as	a	%	of	average	loans	and	leases	0.01	%	0.02	%	(0.01)	%	(50)		—	%Total	assets	under	management	(in	billions)—eop$	19.8	$	17.5	$	2.3		13	$	15.3	Total	trust	assets	(in	billions)—eop	123.0		121.8		1.2		1		105.1	eop—End	of	Period.2020	versus	2019	RBHPCG	reported	net	income	of	$85	million	in	2020,	a	decrease	of	$28	million,	or	25%,	compared	with	a	net	income	of	$113	million	in	2019.		Net	interest	income	decreased	$38	million,	or	19%,	due	to	an	82	basis	point	decrease	in	net	interest	margin,	reflecting	both	lower	deposit	and	loan	spreads.		Average	loans	increased	$0.4	billion,	or	7%,	primarily	due	to	residential	real	estate	mortgage	loans,	and	average	deposits	increased	$0.5	billion,	or	9%,	primarily	related	to	PPP,	stimulus,	and	higher	customer	liquidity	levels.		Noninterest	income	increased	$3	million,	or	2%,	primarily	due	to	the	gain	on	sale	of	Retirement	Plan	Services	recordkeeping	and	administrative	services,	higher	residential	title	and	life	insurance	fees,	and	an	increase	in	assets	under	management.		Noninterest	expense	decreased	$13	million,	or	5%,	primarily	due	to	lower	travel	and	business	development	expense	as	well	as	lower	sponsorships	due	to	delays	or	cancellation	of	events.RESULTS	FOR	THE	FOURTH	QUARTEREarnings	DiscussionIn	the	2020	fourth	quarter,	we	reported	net	income	of	$316	million,	a	decrease	of	$1	million,	from	the	2019	fourth	quarter.		Diluted	earnings	per	common	share	for	the	2020	fourth	quarter	were	$0.27,	a	decrease	of	$0.01	from	the	year-ago	quarter.Net	Interest	Income	/	Average	Balance	SheetFTE	net	interest	income	for	the	2020	fourth	quarter	increased	$44	million,	or	6%,	from	the	2019	fourth	quarter.		This	reflected	a	$12.2	billion,	or	12%,	increase	in	average	earning	assets,	partially	offset	by	an	18	basis	point	decrease	in	the	FTE	net	interest	margin	to	2.94%.		The	NIM	compression	reflected	a	90	basis	point	decrease	in	average	earning	asset	yields	and	a	25	basis	point	decrease	in	the	benefit	of	non-interest	bearing	funding	sources,	partially	offset	by	a	97	basis	point	decrease	in	the	cost	of	interest	bearing	liabilities.		These	decreases	reflected	the	impact	of	lower	interest	rates	and	changes	in	balance	sheet	mix,	including	elevated	deposits	at	the	Federal	Reserve	Bank.	2020	Form	10-K					912020	versus	2019	Commercial	Banking	reported	net	income	of	$78	million	in	2020,	a	decrease	of	$475	million,	or	86%,	compared	to	the	year	ago	period.		Segment	net	interest	income	decreased	$134	million,	or	13%,	primarily	due	to	a	45	basis	point	decrease	in	net	interest	margin	driven	by	a	sharp	decline	in	the	benefit	of	deposits.		The	provision	for	credit	losses	increased	$494	million,	or	374%,	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic,	as	well	as	an	increase	incurred	losses	largely	driven	by	oil	and	gas,	a	coal-related	credit	and	a	large	retail	mall	REIT	relationship.		Noninterest	income	increased	$5	million,	or	1%,	largely	driven	by	an	increase	in	treasury	management	related	revenue	reflecting	the	impact	of	lower	earnings	credits	on	commercial	deposit	service	charges,	partially	offset	by	a	decline	in	the	gains	on	sale	of	loans	and	leases.		Noninterest	expense	decreased	$22	million,	or	4%,	primarily	due	to	personnel	expense	reflecting	a	reduction	in	incentives	and	a	3%	reduction	in	full-time	equivalent	employees,	and	lower	travel	and	business	development	expense	as	a	result	of	COVID-19	related	shelter-in-place	ordinances,	partially	offset	by	an	increase	in	outside	data	processing	and	other	services.Vehicle	FinanceTable	31	-	Key	Performance	Indicators	for	Vehicle	Finance	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	430	$	397	$	33		8	%$	392	Provision	(reduction	in	allowance)	for	credit	losses	146		44		102		232		55	Noninterest	income	9		12		(3)		(25)		11	Noninterest	expense	141		148		(7)		(5)		143	Provision	for	income	taxes	32		45		(13)		(29)		43	Net	income$	120	$	172	$	(52)		(30)	%$	162	Number	of	employees	(average	full-time	equivalent)	266		265		1		—	%	264	Total	average	assets$	19,760	$	19,393	$	367		2	$	18,430	Total	average	loans/leases	19,939		19,466		473		2		18,484	Total	average	deposits	653		333		320		96		338	Net	interest	margin	2.15	%	2.04	%	0.11	%	5		2.12	%NCOs$	45	$	43	$	2		5	$	43	NCOs	as	a	%	of	average	loans	and	leases	0.23	%	0.22	%	0.01	%	5		0.23	%2020	versus	2019	Vehicle	Finance	reported	net	income	of	$120	million	in	2020,	a	decrease	of	$52	million,	or	30%,	compared	with	net	income	of	$172	million	in	2019.		The	decrease	was	primarily	driven	by	a	$102	million	increase	in	the	provision	for	loan	losses	due	to	the	changes	in	the	economic	outlook	as	a	result	of	the	COVID-19	pandemic.		Segment	net	interest	income	increased	$33	million	or	8%,	due	to	a	11	basis	point	increase	in	the	net	interest	margin	and	a	$0.5	billion	increase	in	average	loan	balances.		The	increase	in	average	loan	balances	reflects	strong	indirect	auto	and	RV	and	marine	originations	over	the	past	12	months	which	have	more	than	offset	lower	commercial	balances	as	a	result	of	lower	floor	plan	line	utilization.		Noninterest	income	decreased		$3	million	primarily	as	a	result	of	lower	servicing	revenue	as	the	remaining	underlying	serviced	loans	were	repurchased	during	the	latter	half	of	2020,	while	noninterest	expense	decreased	$7	million,	or	5%,	primarily	reflecting	lower	allocated	overhead.90					Huntington	Bancshares	IncorporatedRegional	Banking	and	The	Huntington	Private	Client	GroupTable	32	-	Key	Performance	Indicators	for	Regional	Banking	and	The	Huntington	Private	Client	Group	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	160	$	198	$	(38)		(19)	%$	203	Provision	(reduction	in	allowance)	for	credit	losses	11		(3)		14		467		1	Noninterest	income	201		198		3		2		193	Noninterest	expense	243		256		(13)		(5)		244	Provision	for	income	taxes	22		30		(8)		(27)		32	Net	income$	85	$	113	$	(28)		(25)	%$	119	Number	of	employees	(average	full-time	equivalent)	1,018		1,057		(39)		(4)	%	1,026	Total	average	assets$	6,845	$	6,438	$	407		6	$	5,802	Total	average	loans/leases	6,574		6,132		442		7		5,487	Total	average	deposits	6,531		5,983		548		9		5,926	Net	interest	margin	2.36	%	3.18	%	(0.82)	%	(26)		3.32	%NCOs$	—	$	1	$	(1)		(100)	$	—	NCOs	as	a	%	of	average	loans	and	leases	0.01	%	0.02	%	(0.01)	%	(50)		—	%Total	assets	under	management	(in	billions)—eop$	19.8	$	17.5	$	2.3		13	$	15.3	Total	trust	assets	(in	billions)—eop	123.0		121.8		1.2		1		105.1	eop—End	of	Period.2020	versus	2019	RBHPCG	reported	net	income	of	$85	million	in	2020,	a	decrease	of	$28	million,	or	25%,	compared	with	a	net	income	of	$113	million	in	2019.		Net	interest	income	decreased	$38	million,	or	19%,	due	to	an	82	basis	point	decrease	in	net	interest	margin,	reflecting	both	lower	deposit	and	loan	spreads.		Average	loans	increased	$0.4	billion,	or	7%,	primarily	due	to	residential	real	estate	mortgage	loans,	and	average	deposits	increased	$0.5	billion,	or	9%,	primarily	related	to	PPP,	stimulus,	and	higher	customer	liquidity	levels.		Noninterest	income	increased	$3	million,	or	2%,	primarily	due	to	the	gain	on	sale	of	Retirement	Plan	Services	recordkeeping	and	administrative	services,	higher	residential	title	and	life	insurance	fees,	and	an	increase	in	assets	under	management.		Noninterest	expense	decreased	$13	million,	or	5%,	primarily	due	to	lower	travel	and	business	development	expense	as	well	as	lower	sponsorships	due	to	delays	or	cancellation	of	events.RESULTS	FOR	THE	FOURTH	QUARTEREarnings	DiscussionIn	the	2020	fourth	quarter,	we	reported	net	income	of	$316	million,	a	decrease	of	$1	million,	from	the	2019	fourth	quarter.		Diluted	earnings	per	common	share	for	the	2020	fourth	quarter	were	$0.27,	a	decrease	of	$0.01	from	the	year-ago	quarter.Net	Interest	Income	/	Average	Balance	SheetFTE	net	interest	income	for	the	2020	fourth	quarter	increased	$44	million,	or	6%,	from	the	2019	fourth	quarter.		This	reflected	a	$12.2	billion,	or	12%,	increase	in	average	earning	assets,	partially	offset	by	an	18	basis	point	decrease	in	the	FTE	net	interest	margin	to	2.94%.		The	NIM	compression	reflected	a	90	basis	point	decrease	in	average	earning	asset	yields	and	a	25	basis	point	decrease	in	the	benefit	of	non-interest	bearing	funding	sources,	partially	offset	by	a	97	basis	point	decrease	in	the	cost	of	interest	bearing	liabilities.		These	decreases	reflected	the	impact	of	lower	interest	rates	and	changes	in	balance	sheet	mix,	including	elevated	deposits	at	the	Federal	Reserve	Bank.	2020	Form	10-K					912020	versus	2019	Commercial	Banking	reported	net	income	of	$78	million	in	2020,	a	decrease	of	$475	million,	or	86%,	compared	to	the	year	ago	period.		Segment	net	interest	income	decreased	$134	million,	or	13%,	primarily	due	to	a	45	basis	point	decrease	in	net	interest	margin	driven	by	a	sharp	decline	in	the	benefit	of	deposits.		The	provision	for	credit	losses	increased	$494	million,	or	374%,	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic,	as	well	as	an	increase	incurred	losses	largely	driven	by	oil	and	gas,	a	coal-related	credit	and	a	large	retail	mall	REIT	relationship.		Noninterest	income	increased	$5	million,	or	1%,	largely	driven	by	an	increase	in	treasury	management	related	revenue	reflecting	the	impact	of	lower	earnings	credits	on	commercial	deposit	service	charges,	partially	offset	by	a	decline	in	the	gains	on	sale	of	loans	and	leases.		Noninterest	expense	decreased	$22	million,	or	4%,	primarily	due	to	personnel	expense	reflecting	a	reduction	in	incentives	and	a	3%	reduction	in	full-time	equivalent	employees,	and	lower	travel	and	business	development	expense	as	a	result	of	COVID-19	related	shelter-in-place	ordinances,	partially	offset	by	an	increase	in	outside	data	processing	and	other	services.Vehicle	FinanceTable	31	-	Key	Performance	Indicators	for	Vehicle	Finance	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	430	$	397	$	33		8	%$	392	Provision	(reduction	in	allowance)	for	credit	losses	146		44		102		232		55	Noninterest	income	9		12		(3)		(25)		11	Noninterest	expense	141		148		(7)		(5)		143	Provision	for	income	taxes	32		45		(13)		(29)		43	Net	income$	120	$	172	$	(52)		(30)	%$	162	Number	of	employees	(average	full-time	equivalent)	266		265		1		—	%	264	Total	average	assets$	19,760	$	19,393	$	367		2	$	18,430	Total	average	loans/leases	19,939		19,466		473		2		18,484	Total	average	deposits	653		333		320		96		338	Net	interest	margin	2.15	%	2.04	%	0.11	%	5		2.12	%NCOs$	45	$	43	$	2		5	$	43	NCOs	as	a	%	of	average	loans	and	leases	0.23	%	0.22	%	0.01	%	5		0.23	%2020	versus	2019	Vehicle	Finance	reported	net	income	of	$120	million	in	2020,	a	decrease	of	$52	million,	or	30%,	compared	with	net	income	of	$172	million	in	2019.		The	decrease	was	primarily	driven	by	a	$102	million	increase	in	the	provision	for	loan	losses	due	to	the	changes	in	the	economic	outlook	as	a	result	of	the	COVID-19	pandemic.		Segment	net	interest	income	increased	$33	million	or	8%,	due	to	a	11	basis	point	increase	in	the	net	interest	margin	and	a	$0.5	billion	increase	in	average	loan	balances.		The	increase	in	average	loan	balances	reflects	strong	indirect	auto	and	RV	and	marine	originations	over	the	past	12	months	which	have	more	than	offset	lower	commercial	balances	as	a	result	of	lower	floor	plan	line	utilization.		Noninterest	income	decreased		$3	million	primarily	as	a	result	of	lower	servicing	revenue	as	the	remaining	underlying	serviced	loans	were	repurchased	during	the	latter	half	of	2020,	while	noninterest	expense	decreased	$7	million,	or	5%,	primarily	reflecting	lower	allocated	overhead.90					Huntington	Bancshares	IncorporatedRegional	Banking	and	The	Huntington	Private	Client	GroupTable	32	-	Key	Performance	Indicators	for	Regional	Banking	and	The	Huntington	Private	Client	Group	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	160	$	198	$	(38)		(19)	%$	203	Provision	(reduction	in	allowance)	for	credit	losses	11		(3)		14		467		1	Noninterest	income	201		198		3		2		193	Noninterest	expense	243		256		(13)		(5)		244	Provision	for	income	taxes	22		30		(8)		(27)		32	Net	income$	85	$	113	$	(28)		(25)	%$	119	Number	of	employees	(average	full-time	equivalent)	1,018		1,057		(39)		(4)	%	1,026	Total	average	assets$	6,845	$	6,438	$	407		6	$	5,802	Total	average	loans/leases	6,574		6,132		442		7		5,487	Total	average	deposits	6,531		5,983		548		9		5,926	Net	interest	margin	2.36	%	3.18	%	(0.82)	%	(26)		3.32	%NCOs$	—	$	1	$	(1)		(100)	$	—	NCOs	as	a	%	of	average	loans	and	leases	0.01	%	0.02	%	(0.01)	%	(50)		—	%Total	assets	under	management	(in	billions)—eop$	19.8	$	17.5	$	2.3		13	$	15.3	Total	trust	assets	(in	billions)—eop	123.0		121.8		1.2		1		105.1	eop—End	of	Period.2020	versus	2019	RBHPCG	reported	net	income	of	$85	million	in	2020,	a	decrease	of	$28	million,	or	25%,	compared	with	a	net	income	of	$113	million	in	2019.		Net	interest	income	decreased	$38	million,	or	19%,	due	to	an	82	basis	point	decrease	in	net	interest	margin,	reflecting	both	lower	deposit	and	loan	spreads.		Average	loans	increased	$0.4	billion,	or	7%,	primarily	due	to	residential	real	estate	mortgage	loans,	and	average	deposits	increased	$0.5	billion,	or	9%,	primarily	related	to	PPP,	stimulus,	and	higher	customer	liquidity	levels.		Noninterest	income	increased	$3	million,	or	2%,	primarily	due	to	the	gain	on	sale	of	Retirement	Plan	Services	recordkeeping	and	administrative	services,	higher	residential	title	and	life	insurance	fees,	and	an	increase	in	assets	under	management.		Noninterest	expense	decreased	$13	million,	or	5%,	primarily	due	to	lower	travel	and	business	development	expense	as	well	as	lower	sponsorships	due	to	delays	or	cancellation	of	events.RESULTS	FOR	THE	FOURTH	QUARTEREarnings	DiscussionIn	the	2020	fourth	quarter,	we	reported	net	income	of	$316	million,	a	decrease	of	$1	million,	from	the	2019	fourth	quarter.		Diluted	earnings	per	common	share	for	the	2020	fourth	quarter	were	$0.27,	a	decrease	of	$0.01	from	the	year-ago	quarter.Net	Interest	Income	/	Average	Balance	SheetFTE	net	interest	income	for	the	2020	fourth	quarter	increased	$44	million,	or	6%,	from	the	2019	fourth	quarter.		This	reflected	a	$12.2	billion,	or	12%,	increase	in	average	earning	assets,	partially	offset	by	an	18	basis	point	decrease	in	the	FTE	net	interest	margin	to	2.94%.		The	NIM	compression	reflected	a	90	basis	point	decrease	in	average	earning	asset	yields	and	a	25	basis	point	decrease	in	the	benefit	of	non-interest	bearing	funding	sources,	partially	offset	by	a	97	basis	point	decrease	in	the	cost	of	interest	bearing	liabilities.		These	decreases	reflected	the	impact	of	lower	interest	rates	and	changes	in	balance	sheet	mix,	including	elevated	deposits	at	the	Federal	Reserve	Bank.	2020	Form	10-K					912020	versus	2019	Commercial	Banking	reported	net	income	of	$78	million	in	2020,	a	decrease	of	$475	million,	or	86%,	compared	to	the	year	ago	period.		Segment	net	interest	income	decreased	$134	million,	or	13%,	primarily	due	to	a	45	basis	point	decrease	in	net	interest	margin	driven	by	a	sharp	decline	in	the	benefit	of	deposits.		The	provision	for	credit	losses	increased	$494	million,	or	374%,	due	to	the	deteriorating	economic	environment	as	a	result	of	the	COVID-19	pandemic,	as	well	as	an	increase	incurred	losses	largely	driven	by	oil	and	gas,	a	coal-related	credit	and	a	large	retail	mall	REIT	relationship.		Noninterest	income	increased	$5	million,	or	1%,	largely	driven	by	an	increase	in	treasury	management	related	revenue	reflecting	the	impact	of	lower	earnings	credits	on	commercial	deposit	service	charges,	partially	offset	by	a	decline	in	the	gains	on	sale	of	loans	and	leases.		Noninterest	expense	decreased	$22	million,	or	4%,	primarily	due	to	personnel	expense	reflecting	a	reduction	in	incentives	and	a	3%	reduction	in	full-time	equivalent	employees,	and	lower	travel	and	business	development	expense	as	a	result	of	COVID-19	related	shelter-in-place	ordinances,	partially	offset	by	an	increase	in	outside	data	processing	and	other	services.Vehicle	FinanceTable	31	-	Key	Performance	Indicators	for	Vehicle	Finance	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	430	$	397	$	33		8	%$	392	Provision	(reduction	in	allowance)	for	credit	losses	146		44		102		232		55	Noninterest	income	9		12		(3)		(25)		11	Noninterest	expense	141		148		(7)		(5)		143	Provision	for	income	taxes	32		45		(13)		(29)		43	Net	income$	120	$	172	$	(52)		(30)	%$	162	Number	of	employees	(average	full-time	equivalent)	266		265		1		—	%	264	Total	average	assets$	19,760	$	19,393	$	367		2	$	18,430	Total	average	loans/leases	19,939		19,466		473		2		18,484	Total	average	deposits	653		333		320		96		338	Net	interest	margin	2.15	%	2.04	%	0.11	%	5		2.12	%NCOs$	45	$	43	$	2		5	$	43	NCOs	as	a	%	of	average	loans	and	leases	0.23	%	0.22	%	0.01	%	5		0.23	%2020	versus	2019	Vehicle	Finance	reported	net	income	of	$120	million	in	2020,	a	decrease	of	$52	million,	or	30%,	compared	with	net	income	of	$172	million	in	2019.		The	decrease	was	primarily	driven	by	a	$102	million	increase	in	the	provision	for	loan	losses	due	to	the	changes	in	the	economic	outlook	as	a	result	of	the	COVID-19	pandemic.		Segment	net	interest	income	increased	$33	million	or	8%,	due	to	a	11	basis	point	increase	in	the	net	interest	margin	and	a	$0.5	billion	increase	in	average	loan	balances.		The	increase	in	average	loan	balances	reflects	strong	indirect	auto	and	RV	and	marine	originations	over	the	past	12	months	which	have	more	than	offset	lower	commercial	balances	as	a	result	of	lower	floor	plan	line	utilization.		Noninterest	income	decreased		$3	million	primarily	as	a	result	of	lower	servicing	revenue	as	the	remaining	underlying	serviced	loans	were	repurchased	during	the	latter	half	of	2020,	while	noninterest	expense	decreased	$7	million,	or	5%,	primarily	reflecting	lower	allocated	overhead.90					Huntington	Bancshares	IncorporatedRegional	Banking	and	The	Huntington	Private	Client	GroupTable	32	-	Key	Performance	Indicators	for	Regional	Banking	and	The	Huntington	Private	Client	Group	Year	Ended	December	31,Change	from	2019	(dollar	amounts	in	millions	unless	otherwise	noted)20202019AmountPercent2018Net	interest	income$	160	$	198	$	(38)		(19)	%$	203	Provision	(reduction	in	allowance)	for	credit	losses	11		(3)		14		467		1	Noninterest	income	201		198		3		2		193	Noninterest	expense	243		256		(13)		(5)		244	Provision	for	income	taxes	22		30		(8)		(27)		32	Net	income$	85	$	113	$	(28)		(25)	%$	119	Number	of	employees	(average	full-time	equivalent)	1,018		1,057		(39)		(4)	%	1,026	Total	average	assets$	6,845	$	6,438	$	407		6	$	5,802	Total	average	loans/leases	6,574		6,132		442		7		5,487	Total	average	deposits	6,531		5,983		548		9		5,926	Net	interest	margin	2.36	%	3.18	%	(0.82)	%	(26)		3.32	%NCOs$	—	$	1	$	(1)		(100)	$	—	NCOs	as	a	%	of	average	loans	and	leases	0.01	%	0.02	%	(0.01)	%	(50)		—	%Total	assets	under	management	(in	billions)—eop$	19.8	$	17.5	$	2.3		13	$	15.3	Total	trust	assets	(in	billions)—eop	123.0		121.8		1.2		1		105.1	eop—End	of	Period.2020	versus	2019	RBHPCG	reported	net	income	of	$85	million	in	2020,	a	decrease	of	$28	million,	or	25%,	compared	with	a	net	income	of	$113	million	in	2019.		Net	interest	income	decreased	$38	million,	or	19%,	due	to	an	82	basis	point	decrease	in	net	interest	margin,	reflecting	both	lower	deposit	and	loan	spreads.		Average	loans	increased	$0.4	billion,	or	7%,	primarily	due	to	residential	real	estate	mortgage	loans,	and	average	deposits	increased	$0.5	billion,	or	9%,	primarily	related	to	PPP,	stimulus,	and	higher	customer	liquidity	levels.		Noninterest	income	increased	$3	million,	or	2%,	primarily	due	to	the	gain	on	sale	of	Retirement	Plan	Services	recordkeeping	and	administrative	services,	higher	residential	title	and	life	insurance	fees,	and	an	increase	in	assets	under	management.		Noninterest	expense	decreased	$13	million,	or	5%,	primarily	due	to	lower	travel	and	business	development	expense	as	well	as	lower	sponsorships	due	to	delays	or	cancellation	of	events.RESULTS	FOR	THE	FOURTH	QUARTEREarnings	DiscussionIn	the	2020	fourth	quarter,	we	reported	net	income	of	$316	million,	a	decrease	of	$1	million,	from	the	2019	fourth	quarter.		Diluted	earnings	per	common	share	for	the	2020	fourth	quarter	were	$0.27,	a	decrease	of	$0.01	from	the	year-ago	quarter.Net	Interest	Income	/	Average	Balance	SheetFTE	net	interest	income	for	the	2020	fourth	quarter	increased	$44	million,	or	6%,	from	the	2019	fourth	quarter.		This	reflected	a	$12.2	billion,	or	12%,	increase	in	average	earning	assets,	partially	offset	by	an	18	basis	point	decrease	in	the	FTE	net	interest	margin	to	2.94%.		The	NIM	compression	reflected	a	90	basis	point	decrease	in	average	earning	asset	yields	and	a	25	basis	point	decrease	in	the	benefit	of	non-interest	bearing	funding	sources,	partially	offset	by	a	97	basis	point	decrease	in	the	cost	of	interest	bearing	liabilities.		These	decreases	reflected	the	impact	of	lower	interest	rates	and	changes	in	balance	sheet	mix,	including	elevated	deposits	at	the	Federal	Reserve	Bank.	2020	Form	10-K					91Table	33	-	Average	Earning	Assets	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentLoans/LeasesCommercial	and	industrial$	34,850	$	30,373	$	4,477		15	%Commercial	real	estate	7,177		6,806		371		5	Total	commercial	42,027		37,179		4,848		13	Automobile	12,857		12,607		250		2	Home	equity	8,919		9,192		(273)		(3)	Residential	mortgage	12,100		11,330		770		7	RV	and	marine	4,181		3,564		617		17	Other	consumer	1,032		1,231		(199)		(16)	Total	consumer	39,089		37,924		1,165		3	Total	loans/leases	81,116		75,103		6,013		8	Total	securities	24,075		23,161		914		4	Loans	held-for-sale	and	other	earning	assets	7,031		1,798		5,233		291	Total	earning	assets$	112,222	$	100,062	$	12,160		12	%Average	earning	assets	for	the	2020	fourth	quarter	increased	$12.2	billion,	or	12%,	from	the	year-ago	quarter,	primarily	reflecting	a	$6.0	billion,	or	8%,	increase	in	average	total	loans	and	leases.		Average	C&I	loans	increased	$4.5	billion,	or	15%,	primarily	reflecting	$6.2	billion	of	average	PPP	loans,	partially	offset	by	a	$0.9	billion	decrease	in	dealer	floorplan	loans.		Average	residential	mortgage	loans	increased	$0.8	billion,	or	7%,	reflecting	robust	mortgage	production	in	the	second	half	of	2020.		Average	RV	and	marine	loans	increased	$0.6	billion,	or	17%,	reflecting	strong	consumer	demand	and	continued	strong	production	levels.		Average	held-for-sale	and	other	earning	assets	increased	$5.2	billion,	or	291%,	primarily	reflecting	the	$4.8	billion	increase	in	interest	bearing	deposits	at	the	Federal	Reserve	Bank.		Average	total	securities	increased	$0.9	billion,	or	4%,	primarily	reflecting	the	net	purchase	of	securities	during	the	2020	fourth	quarter	and	the	$0.2	billion	mark-to-market	of	the	available-for-sale	portfolio.Table	34	-	Average	Interest-Bearing	Liabilities	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentInterest-bearing	deposits:Demand	deposits:	interest-bearing	25,094		20,140		4,954		25	Money	market	deposits	26,144		24,560		1,584		6	Savings	and	other	domestic	deposits	11,468		9,552		1,916		20	Core	certificates	of	deposit	1,479		4,795		(3,316)		(69)	Other	domestic	deposits	of	$250,000	or	more	139		313		(174)		(56)	Brokered	deposits	and	negotiable	CDs	4,100		2,589		1,511		58	Total	interest-bearing	deposits	68,424		61,949		6,475		10	Short-term	borrowings	239		1,965		(1,726)		(88)	Long-term	debt	8,799		9,886		(1,087)		(11)	Total	interest-bearing	liabilities$	77,462	$	73,800	$	3,662		5	%Average	total	interest-bearing	liabilities	for	the	2020	fourth	quarter	increased	$3.7	billion,	or	5%,	from	the	year-ago	quarter.		Average	interest-bearing	demand	deposits	increased	$5.0	billion,	or	25%,	average	savings	and	other	domestic	deposits	increased	$1.9	billion,	or	20%,	and	average	money	market	deposits	increased	$1.6	billion,	or	6%.		Average	brokered	deposits	and	negotiable	CDs	increased	$1.5	billion,	or	58%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.		Partially	offsetting	these	increases,	average	core	CDs	decreased	$3.3	billion,	or	69%,	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Average	total	debt	decreased	$2.8	billion,	or	24%,	reflecting	the	repayment	of	short-term	borrowings,	the	maturity	and	issuance	of	$2.1	billion	and	$1.2	billion	of	long-term	debt,	respectively,	over	the	past	five	quarters,	and	the	purchase	of	$0.5	billion	of	long-term	debt	under	the	tender	offer	completed	in	November	2020,	all	due	to	the	strong	core	deposit	growth.	92					Huntington	Bancshares	IncorporatedProvision	for	Credit	LossesThe	provision	for	credit	losses	increased	$24	million	to	$103	million	in	the	2020	fourth	quarter	compared	to	$79	million	from	the	year-ago	quarter.	Noninterest	IncomeTable	35	-	Noninterest	Income	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentMortgage	banking	income$	90	$	58	$	32		55	%Service	charges	on	deposit	accounts		78		95		(17)		(18)	Card	and	payment	processing	income	65		64		1		2	Trust	and	investment	management	services	49		47		2		4	Capital	markets	fees	34		31		3		10	Insurance	income	25		24		1		4	Bank	owned	life	insurance	income	14		17		(3)		(18)	Gain	on	sale	of	loans	13		16		(3)		(19)	Net	(losses)	gains	on	sales	of	securities	—		(22)		22		100	Other	noninterest	income	41		42		(1)		(2)	Total	noninterest	income$	409	$	372	$	37		10	%Noninterest	income	for	the	2020	fourth	quarter	increased	$37	million,	or	10%,	from	the	year-ago	quarter.		Mortgage	banking	income	increased	$32	million,	or	55%,	primarily	reflecting	higher	volume	and	overall	salable	spreads,	partially	offset	by	a	$16	million	decrease	in	income	from	net	mortgage	servicing	rights	(MSR)	risk	management.		The	2020	fourth	quarter	included	no	net	gains	or	losses	on	sales	of	securities,	while	the	year-ago	quarter	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning	completed	in	the	quarter.		Service	charges	on	deposits	accounts	decreased	$17	million,	or	18%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.Noninterest	ExpenseTable	36	-	Noninterest	Expense	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentPersonnel	costs$	426	$	426	$	—		—	%Outside	data	processing	and	other	services	111		89		22		25	Equipment	49		42		7		17	Net	occupancy	39		41		(2)		(5)	Professional	services	21		14		7		50	Amortization	of	intangibles	10		12		(2)		(17)	Marketing	15		9		6		67	Deposit	and	other	insurance	expense	8		10		(2)		(20)	Other	noninterest	expense	77		58		19		33	Total	noninterest	expense$	756	$	701	$	55		8	%Number	of	employees	(average	full-time	equivalent)	15,477		15,495		(18)		—	%Noninterest	expense	for	the	2020	fourth	quarter	increased	$55	million,	or	8%,	from	the	year-ago	quarter.		Outside	data	processing	and	other	services	expense	increased	$22	million,	or	25%,	primarily	driven	by	expenses	related	to	technology	investments.		Other	noninterest	expense	increased	$19	million,	or	33%,	primarily	reflecting	a	$20	million	donation	to	The	Columbus	Foundation	and	$7	million	of	expense	from	the	November	2020	debt	tender,	partially	offset	by	a	$4	million	final	true-up	of	the	earn	out	related	to	the	Hutchinson,	Shockey,	Erley	&	Co.	acquisition	in	the	year-ago	quarter.		Equipment	expense	increased	$7	million,	or	17%,	primarily	reflecting	increased	depreciation	expense	related	to	technology	investments	as	well	as	expense	related	to	the	branch	and	facilities	consolidations	announced	in	the	2020	third	quarter.		Professional	services	expense	increased	$7	million,	or	50%,	due	to	$8	million	of	TCF	merger-related	expense.		Marketing	increased	$6	million,	or	67%,	primarily	reflecting	strategic	2020	Form	10-K					93Table	33	-	Average	Earning	Assets	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentLoans/LeasesCommercial	and	industrial$	34,850	$	30,373	$	4,477		15	%Commercial	real	estate	7,177		6,806		371		5	Total	commercial	42,027		37,179		4,848		13	Automobile	12,857		12,607		250		2	Home	equity	8,919		9,192		(273)		(3)	Residential	mortgage	12,100		11,330		770		7	RV	and	marine	4,181		3,564		617		17	Other	consumer	1,032		1,231		(199)		(16)	Total	consumer	39,089		37,924		1,165		3	Total	loans/leases	81,116		75,103		6,013		8	Total	securities	24,075		23,161		914		4	Loans	held-for-sale	and	other	earning	assets	7,031		1,798		5,233		291	Total	earning	assets$	112,222	$	100,062	$	12,160		12	%Average	earning	assets	for	the	2020	fourth	quarter	increased	$12.2	billion,	or	12%,	from	the	year-ago	quarter,	primarily	reflecting	a	$6.0	billion,	or	8%,	increase	in	average	total	loans	and	leases.		Average	C&I	loans	increased	$4.5	billion,	or	15%,	primarily	reflecting	$6.2	billion	of	average	PPP	loans,	partially	offset	by	a	$0.9	billion	decrease	in	dealer	floorplan	loans.		Average	residential	mortgage	loans	increased	$0.8	billion,	or	7%,	reflecting	robust	mortgage	production	in	the	second	half	of	2020.		Average	RV	and	marine	loans	increased	$0.6	billion,	or	17%,	reflecting	strong	consumer	demand	and	continued	strong	production	levels.		Average	held-for-sale	and	other	earning	assets	increased	$5.2	billion,	or	291%,	primarily	reflecting	the	$4.8	billion	increase	in	interest	bearing	deposits	at	the	Federal	Reserve	Bank.		Average	total	securities	increased	$0.9	billion,	or	4%,	primarily	reflecting	the	net	purchase	of	securities	during	the	2020	fourth	quarter	and	the	$0.2	billion	mark-to-market	of	the	available-for-sale	portfolio.Table	34	-	Average	Interest-Bearing	Liabilities	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentInterest-bearing	deposits:Demand	deposits:	interest-bearing	25,094		20,140		4,954		25	Money	market	deposits	26,144		24,560		1,584		6	Savings	and	other	domestic	deposits	11,468		9,552		1,916		20	Core	certificates	of	deposit	1,479		4,795		(3,316)		(69)	Other	domestic	deposits	of	$250,000	or	more	139		313		(174)		(56)	Brokered	deposits	and	negotiable	CDs	4,100		2,589		1,511		58	Total	interest-bearing	deposits	68,424		61,949		6,475		10	Short-term	borrowings	239		1,965		(1,726)		(88)	Long-term	debt	8,799		9,886		(1,087)		(11)	Total	interest-bearing	liabilities$	77,462	$	73,800	$	3,662		5	%Average	total	interest-bearing	liabilities	for	the	2020	fourth	quarter	increased	$3.7	billion,	or	5%,	from	the	year-ago	quarter.		Average	interest-bearing	demand	deposits	increased	$5.0	billion,	or	25%,	average	savings	and	other	domestic	deposits	increased	$1.9	billion,	or	20%,	and	average	money	market	deposits	increased	$1.6	billion,	or	6%.		Average	brokered	deposits	and	negotiable	CDs	increased	$1.5	billion,	or	58%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.		Partially	offsetting	these	increases,	average	core	CDs	decreased	$3.3	billion,	or	69%,	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Average	total	debt	decreased	$2.8	billion,	or	24%,	reflecting	the	repayment	of	short-term	borrowings,	the	maturity	and	issuance	of	$2.1	billion	and	$1.2	billion	of	long-term	debt,	respectively,	over	the	past	five	quarters,	and	the	purchase	of	$0.5	billion	of	long-term	debt	under	the	tender	offer	completed	in	November	2020,	all	due	to	the	strong	core	deposit	growth.	92					Huntington	Bancshares	IncorporatedProvision	for	Credit	LossesThe	provision	for	credit	losses	increased	$24	million	to	$103	million	in	the	2020	fourth	quarter	compared	to	$79	million	from	the	year-ago	quarter.	Noninterest	IncomeTable	35	-	Noninterest	Income	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentMortgage	banking	income$	90	$	58	$	32		55	%Service	charges	on	deposit	accounts		78		95		(17)		(18)	Card	and	payment	processing	income	65		64		1		2	Trust	and	investment	management	services	49		47		2		4	Capital	markets	fees	34		31		3		10	Insurance	income	25		24		1		4	Bank	owned	life	insurance	income	14		17		(3)		(18)	Gain	on	sale	of	loans	13		16		(3)		(19)	Net	(losses)	gains	on	sales	of	securities	—		(22)		22		100	Other	noninterest	income	41		42		(1)		(2)	Total	noninterest	income$	409	$	372	$	37		10	%Noninterest	income	for	the	2020	fourth	quarter	increased	$37	million,	or	10%,	from	the	year-ago	quarter.		Mortgage	banking	income	increased	$32	million,	or	55%,	primarily	reflecting	higher	volume	and	overall	salable	spreads,	partially	offset	by	a	$16	million	decrease	in	income	from	net	mortgage	servicing	rights	(MSR)	risk	management.		The	2020	fourth	quarter	included	no	net	gains	or	losses	on	sales	of	securities,	while	the	year-ago	quarter	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning	completed	in	the	quarter.		Service	charges	on	deposits	accounts	decreased	$17	million,	or	18%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.Noninterest	ExpenseTable	36	-	Noninterest	Expense	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentPersonnel	costs$	426	$	426	$	—		—	%Outside	data	processing	and	other	services	111		89		22		25	Equipment	49		42		7		17	Net	occupancy	39		41		(2)		(5)	Professional	services	21		14		7		50	Amortization	of	intangibles	10		12		(2)		(17)	Marketing	15		9		6		67	Deposit	and	other	insurance	expense	8		10		(2)		(20)	Other	noninterest	expense	77		58		19		33	Total	noninterest	expense$	756	$	701	$	55		8	%Number	of	employees	(average	full-time	equivalent)	15,477		15,495		(18)		—	%Noninterest	expense	for	the	2020	fourth	quarter	increased	$55	million,	or	8%,	from	the	year-ago	quarter.		Outside	data	processing	and	other	services	expense	increased	$22	million,	or	25%,	primarily	driven	by	expenses	related	to	technology	investments.		Other	noninterest	expense	increased	$19	million,	or	33%,	primarily	reflecting	a	$20	million	donation	to	The	Columbus	Foundation	and	$7	million	of	expense	from	the	November	2020	debt	tender,	partially	offset	by	a	$4	million	final	true-up	of	the	earn	out	related	to	the	Hutchinson,	Shockey,	Erley	&	Co.	acquisition	in	the	year-ago	quarter.		Equipment	expense	increased	$7	million,	or	17%,	primarily	reflecting	increased	depreciation	expense	related	to	technology	investments	as	well	as	expense	related	to	the	branch	and	facilities	consolidations	announced	in	the	2020	third	quarter.		Professional	services	expense	increased	$7	million,	or	50%,	due	to	$8	million	of	TCF	merger-related	expense.		Marketing	increased	$6	million,	or	67%,	primarily	reflecting	strategic	2020	Form	10-K					93Table	33	-	Average	Earning	Assets	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentLoans/LeasesCommercial	and	industrial$	34,850	$	30,373	$	4,477		15	%Commercial	real	estate	7,177		6,806		371		5	Total	commercial	42,027		37,179		4,848		13	Automobile	12,857		12,607		250		2	Home	equity	8,919		9,192		(273)		(3)	Residential	mortgage	12,100		11,330		770		7	RV	and	marine	4,181		3,564		617		17	Other	consumer	1,032		1,231		(199)		(16)	Total	consumer	39,089		37,924		1,165		3	Total	loans/leases	81,116		75,103		6,013		8	Total	securities	24,075		23,161		914		4	Loans	held-for-sale	and	other	earning	assets	7,031		1,798		5,233		291	Total	earning	assets$	112,222	$	100,062	$	12,160		12	%Average	earning	assets	for	the	2020	fourth	quarter	increased	$12.2	billion,	or	12%,	from	the	year-ago	quarter,	primarily	reflecting	a	$6.0	billion,	or	8%,	increase	in	average	total	loans	and	leases.		Average	C&I	loans	increased	$4.5	billion,	or	15%,	primarily	reflecting	$6.2	billion	of	average	PPP	loans,	partially	offset	by	a	$0.9	billion	decrease	in	dealer	floorplan	loans.		Average	residential	mortgage	loans	increased	$0.8	billion,	or	7%,	reflecting	robust	mortgage	production	in	the	second	half	of	2020.		Average	RV	and	marine	loans	increased	$0.6	billion,	or	17%,	reflecting	strong	consumer	demand	and	continued	strong	production	levels.		Average	held-for-sale	and	other	earning	assets	increased	$5.2	billion,	or	291%,	primarily	reflecting	the	$4.8	billion	increase	in	interest	bearing	deposits	at	the	Federal	Reserve	Bank.		Average	total	securities	increased	$0.9	billion,	or	4%,	primarily	reflecting	the	net	purchase	of	securities	during	the	2020	fourth	quarter	and	the	$0.2	billion	mark-to-market	of	the	available-for-sale	portfolio.Table	34	-	Average	Interest-Bearing	Liabilities	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentInterest-bearing	deposits:Demand	deposits:	interest-bearing	25,094		20,140		4,954		25	Money	market	deposits	26,144		24,560		1,584		6	Savings	and	other	domestic	deposits	11,468		9,552		1,916		20	Core	certificates	of	deposit	1,479		4,795		(3,316)		(69)	Other	domestic	deposits	of	$250,000	or	more	139		313		(174)		(56)	Brokered	deposits	and	negotiable	CDs	4,100		2,589		1,511		58	Total	interest-bearing	deposits	68,424		61,949		6,475		10	Short-term	borrowings	239		1,965		(1,726)		(88)	Long-term	debt	8,799		9,886		(1,087)		(11)	Total	interest-bearing	liabilities$	77,462	$	73,800	$	3,662		5	%Average	total	interest-bearing	liabilities	for	the	2020	fourth	quarter	increased	$3.7	billion,	or	5%,	from	the	year-ago	quarter.		Average	interest-bearing	demand	deposits	increased	$5.0	billion,	or	25%,	average	savings	and	other	domestic	deposits	increased	$1.9	billion,	or	20%,	and	average	money	market	deposits	increased	$1.6	billion,	or	6%.		Average	brokered	deposits	and	negotiable	CDs	increased	$1.5	billion,	or	58%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.		Partially	offsetting	these	increases,	average	core	CDs	decreased	$3.3	billion,	or	69%,	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Average	total	debt	decreased	$2.8	billion,	or	24%,	reflecting	the	repayment	of	short-term	borrowings,	the	maturity	and	issuance	of	$2.1	billion	and	$1.2	billion	of	long-term	debt,	respectively,	over	the	past	five	quarters,	and	the	purchase	of	$0.5	billion	of	long-term	debt	under	the	tender	offer	completed	in	November	2020,	all	due	to	the	strong	core	deposit	growth.	92					Huntington	Bancshares	IncorporatedProvision	for	Credit	LossesThe	provision	for	credit	losses	increased	$24	million	to	$103	million	in	the	2020	fourth	quarter	compared	to	$79	million	from	the	year-ago	quarter.	Noninterest	IncomeTable	35	-	Noninterest	Income	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentMortgage	banking	income$	90	$	58	$	32		55	%Service	charges	on	deposit	accounts		78		95		(17)		(18)	Card	and	payment	processing	income	65		64		1		2	Trust	and	investment	management	services	49		47		2		4	Capital	markets	fees	34		31		3		10	Insurance	income	25		24		1		4	Bank	owned	life	insurance	income	14		17		(3)		(18)	Gain	on	sale	of	loans	13		16		(3)		(19)	Net	(losses)	gains	on	sales	of	securities	—		(22)		22		100	Other	noninterest	income	41		42		(1)		(2)	Total	noninterest	income$	409	$	372	$	37		10	%Noninterest	income	for	the	2020	fourth	quarter	increased	$37	million,	or	10%,	from	the	year-ago	quarter.		Mortgage	banking	income	increased	$32	million,	or	55%,	primarily	reflecting	higher	volume	and	overall	salable	spreads,	partially	offset	by	a	$16	million	decrease	in	income	from	net	mortgage	servicing	rights	(MSR)	risk	management.		The	2020	fourth	quarter	included	no	net	gains	or	losses	on	sales	of	securities,	while	the	year-ago	quarter	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning	completed	in	the	quarter.		Service	charges	on	deposits	accounts	decreased	$17	million,	or	18%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.Noninterest	ExpenseTable	36	-	Noninterest	Expense	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentPersonnel	costs$	426	$	426	$	—		—	%Outside	data	processing	and	other	services	111		89		22		25	Equipment	49		42		7		17	Net	occupancy	39		41		(2)		(5)	Professional	services	21		14		7		50	Amortization	of	intangibles	10		12		(2)		(17)	Marketing	15		9		6		67	Deposit	and	other	insurance	expense	8		10		(2)		(20)	Other	noninterest	expense	77		58		19		33	Total	noninterest	expense$	756	$	701	$	55		8	%Number	of	employees	(average	full-time	equivalent)	15,477		15,495		(18)		—	%Noninterest	expense	for	the	2020	fourth	quarter	increased	$55	million,	or	8%,	from	the	year-ago	quarter.		Outside	data	processing	and	other	services	expense	increased	$22	million,	or	25%,	primarily	driven	by	expenses	related	to	technology	investments.		Other	noninterest	expense	increased	$19	million,	or	33%,	primarily	reflecting	a	$20	million	donation	to	The	Columbus	Foundation	and	$7	million	of	expense	from	the	November	2020	debt	tender,	partially	offset	by	a	$4	million	final	true-up	of	the	earn	out	related	to	the	Hutchinson,	Shockey,	Erley	&	Co.	acquisition	in	the	year-ago	quarter.		Equipment	expense	increased	$7	million,	or	17%,	primarily	reflecting	increased	depreciation	expense	related	to	technology	investments	as	well	as	expense	related	to	the	branch	and	facilities	consolidations	announced	in	the	2020	third	quarter.		Professional	services	expense	increased	$7	million,	or	50%,	due	to	$8	million	of	TCF	merger-related	expense.		Marketing	increased	$6	million,	or	67%,	primarily	reflecting	strategic	2020	Form	10-K					93Table	33	-	Average	Earning	Assets	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentLoans/LeasesCommercial	and	industrial$	34,850	$	30,373	$	4,477		15	%Commercial	real	estate	7,177		6,806		371		5	Total	commercial	42,027		37,179		4,848		13	Automobile	12,857		12,607		250		2	Home	equity	8,919		9,192		(273)		(3)	Residential	mortgage	12,100		11,330		770		7	RV	and	marine	4,181		3,564		617		17	Other	consumer	1,032		1,231		(199)		(16)	Total	consumer	39,089		37,924		1,165		3	Total	loans/leases	81,116		75,103		6,013		8	Total	securities	24,075		23,161		914		4	Loans	held-for-sale	and	other	earning	assets	7,031		1,798		5,233		291	Total	earning	assets$	112,222	$	100,062	$	12,160		12	%Average	earning	assets	for	the	2020	fourth	quarter	increased	$12.2	billion,	or	12%,	from	the	year-ago	quarter,	primarily	reflecting	a	$6.0	billion,	or	8%,	increase	in	average	total	loans	and	leases.		Average	C&I	loans	increased	$4.5	billion,	or	15%,	primarily	reflecting	$6.2	billion	of	average	PPP	loans,	partially	offset	by	a	$0.9	billion	decrease	in	dealer	floorplan	loans.		Average	residential	mortgage	loans	increased	$0.8	billion,	or	7%,	reflecting	robust	mortgage	production	in	the	second	half	of	2020.		Average	RV	and	marine	loans	increased	$0.6	billion,	or	17%,	reflecting	strong	consumer	demand	and	continued	strong	production	levels.		Average	held-for-sale	and	other	earning	assets	increased	$5.2	billion,	or	291%,	primarily	reflecting	the	$4.8	billion	increase	in	interest	bearing	deposits	at	the	Federal	Reserve	Bank.		Average	total	securities	increased	$0.9	billion,	or	4%,	primarily	reflecting	the	net	purchase	of	securities	during	the	2020	fourth	quarter	and	the	$0.2	billion	mark-to-market	of	the	available-for-sale	portfolio.Table	34	-	Average	Interest-Bearing	Liabilities	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentInterest-bearing	deposits:Demand	deposits:	interest-bearing	25,094		20,140		4,954		25	Money	market	deposits	26,144		24,560		1,584		6	Savings	and	other	domestic	deposits	11,468		9,552		1,916		20	Core	certificates	of	deposit	1,479		4,795		(3,316)		(69)	Other	domestic	deposits	of	$250,000	or	more	139		313		(174)		(56)	Brokered	deposits	and	negotiable	CDs	4,100		2,589		1,511		58	Total	interest-bearing	deposits	68,424		61,949		6,475		10	Short-term	borrowings	239		1,965		(1,726)		(88)	Long-term	debt	8,799		9,886		(1,087)		(11)	Total	interest-bearing	liabilities$	77,462	$	73,800	$	3,662		5	%Average	total	interest-bearing	liabilities	for	the	2020	fourth	quarter	increased	$3.7	billion,	or	5%,	from	the	year-ago	quarter.		Average	interest-bearing	demand	deposits	increased	$5.0	billion,	or	25%,	average	savings	and	other	domestic	deposits	increased	$1.9	billion,	or	20%,	and	average	money	market	deposits	increased	$1.6	billion,	or	6%.		Average	brokered	deposits	and	negotiable	CDs	increased	$1.5	billion,	or	58%,	reflecting	balance	growth	in	new	and	existing	brokered	deposit	accounts.		Partially	offsetting	these	increases,	average	core	CDs	decreased	$3.3	billion,	or	69%,	reflecting	the	maturity	of	balances	related	to	the	2018	consumer	deposit	growth	initiatives.		Average	total	debt	decreased	$2.8	billion,	or	24%,	reflecting	the	repayment	of	short-term	borrowings,	the	maturity	and	issuance	of	$2.1	billion	and	$1.2	billion	of	long-term	debt,	respectively,	over	the	past	five	quarters,	and	the	purchase	of	$0.5	billion	of	long-term	debt	under	the	tender	offer	completed	in	November	2020,	all	due	to	the	strong	core	deposit	growth.	92					Huntington	Bancshares	IncorporatedProvision	for	Credit	LossesThe	provision	for	credit	losses	increased	$24	million	to	$103	million	in	the	2020	fourth	quarter	compared	to	$79	million	from	the	year-ago	quarter.	Noninterest	IncomeTable	35	-	Noninterest	Income	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentMortgage	banking	income$	90	$	58	$	32		55	%Service	charges	on	deposit	accounts		78		95		(17)		(18)	Card	and	payment	processing	income	65		64		1		2	Trust	and	investment	management	services	49		47		2		4	Capital	markets	fees	34		31		3		10	Insurance	income	25		24		1		4	Bank	owned	life	insurance	income	14		17		(3)		(18)	Gain	on	sale	of	loans	13		16		(3)		(19)	Net	(losses)	gains	on	sales	of	securities	—		(22)		22		100	Other	noninterest	income	41		42		(1)		(2)	Total	noninterest	income$	409	$	372	$	37		10	%Noninterest	income	for	the	2020	fourth	quarter	increased	$37	million,	or	10%,	from	the	year-ago	quarter.		Mortgage	banking	income	increased	$32	million,	or	55%,	primarily	reflecting	higher	volume	and	overall	salable	spreads,	partially	offset	by	a	$16	million	decrease	in	income	from	net	mortgage	servicing	rights	(MSR)	risk	management.		The	2020	fourth	quarter	included	no	net	gains	or	losses	on	sales	of	securities,	while	the	year-ago	quarter	included	$22	million	of	net	losses	related	to	the	$2	billion	portfolio	repositioning	completed	in	the	quarter.		Service	charges	on	deposits	accounts	decreased	$17	million,	or	18%,	primarily	reflecting	reduced	customer	activity	and	elevated	deposits.Noninterest	ExpenseTable	36	-	Noninterest	Expense	-	2020	Fourth	Quarter	vs.	2019	Fourth	Quarter	Fourth	QuarterChange(dollar	amounts	in	millions)20202019AmountPercentPersonnel	costs$	426	$	426	$	—		—	%Outside	data	processing	and	other	services	111		89		22		25	Equipment	49		42		7		17	Net	occupancy	39		41		(2)		(5)	Professional	services	21		14		7		50	Amortization	of	intangibles	10		12		(2)		(17)	Marketing	15		9		6		67	Deposit	and	other	insurance	expense	8		10		(2)		(20)	Other	noninterest	expense	77		58		19		33	Total	noninterest	expense$	756	$	701	$	55		8	%Number	of	employees	(average	full-time	equivalent)	15,477		15,495		(18)		—	%Noninterest	expense	for	the	2020	fourth	quarter	increased	$55	million,	or	8%,	from	the	year-ago	quarter.		Outside	data	processing	and	other	services	expense	increased	$22	million,	or	25%,	primarily	driven	by	expenses	related	to	technology	investments.		Other	noninterest	expense	increased	$19	million,	or	33%,	primarily	reflecting	a	$20	million	donation	to	The	Columbus	Foundation	and	$7	million	of	expense	from	the	November	2020	debt	tender,	partially	offset	by	a	$4	million	final	true-up	of	the	earn	out	related	to	the	Hutchinson,	Shockey,	Erley	&	Co.	acquisition	in	the	year-ago	quarter.		Equipment	expense	increased	$7	million,	or	17%,	primarily	reflecting	increased	depreciation	expense	related	to	technology	investments	as	well	as	expense	related	to	the	branch	and	facilities	consolidations	announced	in	the	2020	third	quarter.		Professional	services	expense	increased	$7	million,	or	50%,	due	to	$8	million	of	TCF	merger-related	expense.		Marketing	increased	$6	million,	or	67%,	primarily	reflecting	strategic	2020	Form	10-K					93marketing	campaigns.		The	2020	fourth	quarter	and	2019	fourth	quarter	included	$6	million	and	$25	million	of	total	noninterest	expense,	respectively,	related	to	the	previously-announced	position	reductions	and	consolidation	of	branches	and	other	corporate	facilities.Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)The	provision	for	income	taxes	was	$59	million	in	the	2020	fourth	quarter	compared	to	$55	million	in	the	2019	fourth	quarter.		The	effective	tax	rates	for	the	2020	fourth	quarter	and	2019	fourth	quarter	were	15.8%	and	14.8%,	respectively.At	December	31,	2020,	the	Company	had	a	net	federal	deferred	tax	liability	of	$158	million	and	a	net	state	deferred	tax	asset	of	$24	million.Credit	QualityNCOsNCOs	increased	$39	million	year-over-year	to	$112	million.		The	increase	in	commercial	NCOs	was	related	to	the	loss	incurred	on	loan	sales	from	one	retail	mall	REIT	relationship,	while	the	decrease	in	consumer	NCOs	reflected	continued	strong	performance	in	those	portfolios.		NCOs	represented	an	annualized	0.55%	of	average	loans	and	leases	in	the	current	quarter,	relatively	unchanged	from	the	prior	quarter	and	up	from	0.39%	in	the	year-ago	quarter.NALsAsset	quality	metrics	remained	in	line	with	overall	expectations.		The	consumer	portfolio	metrics	remained	relatively	stable,	reflecting	normal	seasonal	impacts.		The	commercial	portfolio	metrics	reflected	continued	volatility	in	the	oil	and	gas	portfolio,	while	the	remainder	of	the	commercial	portfolio	has	performed	well.NALs	increased	$64	million,	or	14%,	from	the	year-ago	quarter	to	$532	million,	or	0.65%	of	total	loans	and	leases.		The	year-over-year	increase	was	primarily	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	year-ago	quarter.		NPAs	increased	to	$563	million,	or	0.69%	of	total	loans	and	leases	and	OREO.		On	a	linked	quarter	basis,	NALs	decreased	$37	million,	or	7%,	while	NPAs	decreased	$39	million,	or	6%.ACL(This	section	should	be	read	in	conjunction	with	Note	5	-	”Loans	/	Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.)The	ALLL	increased	by	$1.0	billion	from	the	year	ago	quarter,	increasing	as	a	percentage	of	total	loans	and	leases	to	2.22%	compared	to	1.04%	a	year	ago.		The	ALLL	as	a	percentage	of	period-end	total	NALs	increased	to	341%	from	167%	over	the	same	period.		The	ACL	increased	by	$1.0	billion	from	the	year-ago	quarter	to	$1.9	billion,	or	2.29%	of	total	loans	and	leases.		On	a	linked	quarter	basis,	the	ACL	decreased	$12	million.		We	believe	the	levels	of	the	ALLL	and	ACL	are	appropriate	given	the	current	level	of	problem	loans	and	the	economic	outlook.94					Huntington	Bancshares	IncorporatedTable	37	-	Selected	Quarterly	Financial	InformationThree	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2020202020202020Interest	income$	878	$	892	$	902	$	975	Interest	expense	53		75		110		185	Net	interest	income	825		817		792		790	Provision	for	credit	losses	103		177		327		441	Net	interest	income	after	provision	for	credit	losses	722		640		465		349	Total	noninterest	income	409		430		391		361	Total	noninterest	expense	756		712		675		652	Income	before	income	taxes	375		358		181		58	Provision	(benefit)	for	income	taxes	59		55		31		10	Net	income	316		303		150		48	Dividends	on	preferred	shares	35		28		19		18	Net	income	applicable	to	common	shares$	281	$	275	$	131	$	30	Common	shares	outstanding	Average—basic	1,017		1,017		1,016		1,018	Average—diluted	1,036		1,031		1,029		1,035	Ending	1,017		1,017		1,017		1,014	Book	value	per	common	share$	10.62	$	10.54	$	10.44	$	10.42	Tangible	book	value	per	common	share	(1)	8.51		8.43		8.32		8.28	Per	common	shareNet	income—basic$	0.28	$	0.27	$	0.13	$	0.03	Net	income—diluted	0.27		0.27		0.13		0.03	Return	on	average	total	assets	1.04	%	1.01	%	0.51	%	0.17	%Return	on	average	common	shareholders’	equity	10.4		10.2		5.0		1.1	Return	on	average	tangible	common	shareholders’	equity	(2)	13.3		13.2		6.7		1.8	Efficiency	ratio	(3)	60.2		56.1		55.9		55.4	Effective	tax	rate	15.8		15.2		17.2		17.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	3.13	%	3.22	%	3.35	%	3.88	%	Interest	expense	0.19		0.26		0.41		0.74	Net	interest	margin	(4)	2.94	%	2.96	%	2.94	%	3.14	%Revenue—FTENet	interest	income$	825	$	817	$	792	$	790	FTE	adjustment	5		5		5		6	Net	interest	income	(4)	830		822		797		796	Noninterest	income	409		430		391		361	Total	revenue	(4)$	1,239	$	1,252	$	1,188	$	1,157	Table	38	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2020(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	88,878	$	88,417	$	87,323	$	90,193	Tier	1	leverage	ratio	(period	end)	9.32	%	9.31	%	8.86	%	9.01	%CET	1	risk-based	capital	ratio		10.00		9.89		9.84		9.47	Tier	1	risk-based	capital	ratio	(period	end)	12.47		12.37		11.79		10.81	Total	risk-based	capital	ratio	(period	end)		14.46		14.39		13.84		12.74	Tangible	common	equity	/	tangible	asset	ratio	(5)	(7)	7.16		7.27		7.28		7.52	Tangible	equity	/	tangible	asset	ratio	(6)	(7)	8.98		9.13		8.74		8.60	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.74		9.70		9.69		9.32	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					95marketing	campaigns.		The	2020	fourth	quarter	and	2019	fourth	quarter	included	$6	million	and	$25	million	of	total	noninterest	expense,	respectively,	related	to	the	previously-announced	position	reductions	and	consolidation	of	branches	and	other	corporate	facilities.Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)The	provision	for	income	taxes	was	$59	million	in	the	2020	fourth	quarter	compared	to	$55	million	in	the	2019	fourth	quarter.		The	effective	tax	rates	for	the	2020	fourth	quarter	and	2019	fourth	quarter	were	15.8%	and	14.8%,	respectively.At	December	31,	2020,	the	Company	had	a	net	federal	deferred	tax	liability	of	$158	million	and	a	net	state	deferred	tax	asset	of	$24	million.Credit	QualityNCOsNCOs	increased	$39	million	year-over-year	to	$112	million.		The	increase	in	commercial	NCOs	was	related	to	the	loss	incurred	on	loan	sales	from	one	retail	mall	REIT	relationship,	while	the	decrease	in	consumer	NCOs	reflected	continued	strong	performance	in	those	portfolios.		NCOs	represented	an	annualized	0.55%	of	average	loans	and	leases	in	the	current	quarter,	relatively	unchanged	from	the	prior	quarter	and	up	from	0.39%	in	the	year-ago	quarter.NALsAsset	quality	metrics	remained	in	line	with	overall	expectations.		The	consumer	portfolio	metrics	remained	relatively	stable,	reflecting	normal	seasonal	impacts.		The	commercial	portfolio	metrics	reflected	continued	volatility	in	the	oil	and	gas	portfolio,	while	the	remainder	of	the	commercial	portfolio	has	performed	well.NALs	increased	$64	million,	or	14%,	from	the	year-ago	quarter	to	$532	million,	or	0.65%	of	total	loans	and	leases.		The	year-over-year	increase	was	primarily	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	year-ago	quarter.		NPAs	increased	to	$563	million,	or	0.69%	of	total	loans	and	leases	and	OREO.		On	a	linked	quarter	basis,	NALs	decreased	$37	million,	or	7%,	while	NPAs	decreased	$39	million,	or	6%.ACL(This	section	should	be	read	in	conjunction	with	Note	5	-	”Loans	/	Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.)The	ALLL	increased	by	$1.0	billion	from	the	year	ago	quarter,	increasing	as	a	percentage	of	total	loans	and	leases	to	2.22%	compared	to	1.04%	a	year	ago.		The	ALLL	as	a	percentage	of	period-end	total	NALs	increased	to	341%	from	167%	over	the	same	period.		The	ACL	increased	by	$1.0	billion	from	the	year-ago	quarter	to	$1.9	billion,	or	2.29%	of	total	loans	and	leases.		On	a	linked	quarter	basis,	the	ACL	decreased	$12	million.		We	believe	the	levels	of	the	ALLL	and	ACL	are	appropriate	given	the	current	level	of	problem	loans	and	the	economic	outlook.94					Huntington	Bancshares	IncorporatedTable	37	-	Selected	Quarterly	Financial	InformationThree	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2020202020202020Interest	income$	878	$	892	$	902	$	975	Interest	expense	53		75		110		185	Net	interest	income	825		817		792		790	Provision	for	credit	losses	103		177		327		441	Net	interest	income	after	provision	for	credit	losses	722		640		465		349	Total	noninterest	income	409		430		391		361	Total	noninterest	expense	756		712		675		652	Income	before	income	taxes	375		358		181		58	Provision	(benefit)	for	income	taxes	59		55		31		10	Net	income	316		303		150		48	Dividends	on	preferred	shares	35		28		19		18	Net	income	applicable	to	common	shares$	281	$	275	$	131	$	30	Common	shares	outstanding	Average—basic	1,017		1,017		1,016		1,018	Average—diluted	1,036		1,031		1,029		1,035	Ending	1,017		1,017		1,017		1,014	Book	value	per	common	share$	10.62	$	10.54	$	10.44	$	10.42	Tangible	book	value	per	common	share	(1)	8.51		8.43		8.32		8.28	Per	common	shareNet	income—basic$	0.28	$	0.27	$	0.13	$	0.03	Net	income—diluted	0.27		0.27		0.13		0.03	Return	on	average	total	assets	1.04	%	1.01	%	0.51	%	0.17	%Return	on	average	common	shareholders’	equity	10.4		10.2		5.0		1.1	Return	on	average	tangible	common	shareholders’	equity	(2)	13.3		13.2		6.7		1.8	Efficiency	ratio	(3)	60.2		56.1		55.9		55.4	Effective	tax	rate	15.8		15.2		17.2		17.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	3.13	%	3.22	%	3.35	%	3.88	%	Interest	expense	0.19		0.26		0.41		0.74	Net	interest	margin	(4)	2.94	%	2.96	%	2.94	%	3.14	%Revenue—FTENet	interest	income$	825	$	817	$	792	$	790	FTE	adjustment	5		5		5		6	Net	interest	income	(4)	830		822		797		796	Noninterest	income	409		430		391		361	Total	revenue	(4)$	1,239	$	1,252	$	1,188	$	1,157	Table	38	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2020(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	88,878	$	88,417	$	87,323	$	90,193	Tier	1	leverage	ratio	(period	end)	9.32	%	9.31	%	8.86	%	9.01	%CET	1	risk-based	capital	ratio		10.00		9.89		9.84		9.47	Tier	1	risk-based	capital	ratio	(period	end)	12.47		12.37		11.79		10.81	Total	risk-based	capital	ratio	(period	end)		14.46		14.39		13.84		12.74	Tangible	common	equity	/	tangible	asset	ratio	(5)	(7)	7.16		7.27		7.28		7.52	Tangible	equity	/	tangible	asset	ratio	(6)	(7)	8.98		9.13		8.74		8.60	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.74		9.70		9.69		9.32	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					95marketing	campaigns.		The	2020	fourth	quarter	and	2019	fourth	quarter	included	$6	million	and	$25	million	of	total	noninterest	expense,	respectively,	related	to	the	previously-announced	position	reductions	and	consolidation	of	branches	and	other	corporate	facilities.Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)The	provision	for	income	taxes	was	$59	million	in	the	2020	fourth	quarter	compared	to	$55	million	in	the	2019	fourth	quarter.		The	effective	tax	rates	for	the	2020	fourth	quarter	and	2019	fourth	quarter	were	15.8%	and	14.8%,	respectively.At	December	31,	2020,	the	Company	had	a	net	federal	deferred	tax	liability	of	$158	million	and	a	net	state	deferred	tax	asset	of	$24	million.Credit	QualityNCOsNCOs	increased	$39	million	year-over-year	to	$112	million.		The	increase	in	commercial	NCOs	was	related	to	the	loss	incurred	on	loan	sales	from	one	retail	mall	REIT	relationship,	while	the	decrease	in	consumer	NCOs	reflected	continued	strong	performance	in	those	portfolios.		NCOs	represented	an	annualized	0.55%	of	average	loans	and	leases	in	the	current	quarter,	relatively	unchanged	from	the	prior	quarter	and	up	from	0.39%	in	the	year-ago	quarter.NALsAsset	quality	metrics	remained	in	line	with	overall	expectations.		The	consumer	portfolio	metrics	remained	relatively	stable,	reflecting	normal	seasonal	impacts.		The	commercial	portfolio	metrics	reflected	continued	volatility	in	the	oil	and	gas	portfolio,	while	the	remainder	of	the	commercial	portfolio	has	performed	well.NALs	increased	$64	million,	or	14%,	from	the	year-ago	quarter	to	$532	million,	or	0.65%	of	total	loans	and	leases.		The	year-over-year	increase	was	primarily	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	year-ago	quarter.		NPAs	increased	to	$563	million,	or	0.69%	of	total	loans	and	leases	and	OREO.		On	a	linked	quarter	basis,	NALs	decreased	$37	million,	or	7%,	while	NPAs	decreased	$39	million,	or	6%.ACL(This	section	should	be	read	in	conjunction	with	Note	5	-	”Loans	/	Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.)The	ALLL	increased	by	$1.0	billion	from	the	year	ago	quarter,	increasing	as	a	percentage	of	total	loans	and	leases	to	2.22%	compared	to	1.04%	a	year	ago.		The	ALLL	as	a	percentage	of	period-end	total	NALs	increased	to	341%	from	167%	over	the	same	period.		The	ACL	increased	by	$1.0	billion	from	the	year-ago	quarter	to	$1.9	billion,	or	2.29%	of	total	loans	and	leases.		On	a	linked	quarter	basis,	the	ACL	decreased	$12	million.		We	believe	the	levels	of	the	ALLL	and	ACL	are	appropriate	given	the	current	level	of	problem	loans	and	the	economic	outlook.94					Huntington	Bancshares	IncorporatedTable	37	-	Selected	Quarterly	Financial	InformationThree	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2020202020202020Interest	income$	878	$	892	$	902	$	975	Interest	expense	53		75		110		185	Net	interest	income	825		817		792		790	Provision	for	credit	losses	103		177		327		441	Net	interest	income	after	provision	for	credit	losses	722		640		465		349	Total	noninterest	income	409		430		391		361	Total	noninterest	expense	756		712		675		652	Income	before	income	taxes	375		358		181		58	Provision	(benefit)	for	income	taxes	59		55		31		10	Net	income	316		303		150		48	Dividends	on	preferred	shares	35		28		19		18	Net	income	applicable	to	common	shares$	281	$	275	$	131	$	30	Common	shares	outstanding	Average—basic	1,017		1,017		1,016		1,018	Average—diluted	1,036		1,031		1,029		1,035	Ending	1,017		1,017		1,017		1,014	Book	value	per	common	share$	10.62	$	10.54	$	10.44	$	10.42	Tangible	book	value	per	common	share	(1)	8.51		8.43		8.32		8.28	Per	common	shareNet	income—basic$	0.28	$	0.27	$	0.13	$	0.03	Net	income—diluted	0.27		0.27		0.13		0.03	Return	on	average	total	assets	1.04	%	1.01	%	0.51	%	0.17	%Return	on	average	common	shareholders’	equity	10.4		10.2		5.0		1.1	Return	on	average	tangible	common	shareholders’	equity	(2)	13.3		13.2		6.7		1.8	Efficiency	ratio	(3)	60.2		56.1		55.9		55.4	Effective	tax	rate	15.8		15.2		17.2		17.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	3.13	%	3.22	%	3.35	%	3.88	%	Interest	expense	0.19		0.26		0.41		0.74	Net	interest	margin	(4)	2.94	%	2.96	%	2.94	%	3.14	%Revenue—FTENet	interest	income$	825	$	817	$	792	$	790	FTE	adjustment	5		5		5		6	Net	interest	income	(4)	830		822		797		796	Noninterest	income	409		430		391		361	Total	revenue	(4)$	1,239	$	1,252	$	1,188	$	1,157	Table	38	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2020(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	88,878	$	88,417	$	87,323	$	90,193	Tier	1	leverage	ratio	(period	end)	9.32	%	9.31	%	8.86	%	9.01	%CET	1	risk-based	capital	ratio		10.00		9.89		9.84		9.47	Tier	1	risk-based	capital	ratio	(period	end)	12.47		12.37		11.79		10.81	Total	risk-based	capital	ratio	(period	end)		14.46		14.39		13.84		12.74	Tangible	common	equity	/	tangible	asset	ratio	(5)	(7)	7.16		7.27		7.28		7.52	Tangible	equity	/	tangible	asset	ratio	(6)	(7)	8.98		9.13		8.74		8.60	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.74		9.70		9.69		9.32	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					95marketing	campaigns.		The	2020	fourth	quarter	and	2019	fourth	quarter	included	$6	million	and	$25	million	of	total	noninterest	expense,	respectively,	related	to	the	previously-announced	position	reductions	and	consolidation	of	branches	and	other	corporate	facilities.Provision	for	Income	Taxes(This	section	should	be	read	in	conjunction	with	Note	1	-	“Significant	Accounting	Policies”	and	Note	19	-	“Income	Taxes”	of	the	Notes	to	Consolidated	Financial	Statements.)The	provision	for	income	taxes	was	$59	million	in	the	2020	fourth	quarter	compared	to	$55	million	in	the	2019	fourth	quarter.		The	effective	tax	rates	for	the	2020	fourth	quarter	and	2019	fourth	quarter	were	15.8%	and	14.8%,	respectively.At	December	31,	2020,	the	Company	had	a	net	federal	deferred	tax	liability	of	$158	million	and	a	net	state	deferred	tax	asset	of	$24	million.Credit	QualityNCOsNCOs	increased	$39	million	year-over-year	to	$112	million.		The	increase	in	commercial	NCOs	was	related	to	the	loss	incurred	on	loan	sales	from	one	retail	mall	REIT	relationship,	while	the	decrease	in	consumer	NCOs	reflected	continued	strong	performance	in	those	portfolios.		NCOs	represented	an	annualized	0.55%	of	average	loans	and	leases	in	the	current	quarter,	relatively	unchanged	from	the	prior	quarter	and	up	from	0.39%	in	the	year-ago	quarter.NALsAsset	quality	metrics	remained	in	line	with	overall	expectations.		The	consumer	portfolio	metrics	remained	relatively	stable,	reflecting	normal	seasonal	impacts.		The	commercial	portfolio	metrics	reflected	continued	volatility	in	the	oil	and	gas	portfolio,	while	the	remainder	of	the	commercial	portfolio	has	performed	well.NALs	increased	$64	million,	or	14%,	from	the	year-ago	quarter	to	$532	million,	or	0.65%	of	total	loans	and	leases.		The	year-over-year	increase	was	primarily	in	the	C&I	portfolio.		OREO	balances	decreased	$7	million,	or	64%,	from	the	year-ago	quarter.		NPAs	increased	to	$563	million,	or	0.69%	of	total	loans	and	leases	and	OREO.		On	a	linked	quarter	basis,	NALs	decreased	$37	million,	or	7%,	while	NPAs	decreased	$39	million,	or	6%.ACL(This	section	should	be	read	in	conjunction	with	Note	5	-	”Loans	/	Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.)The	ALLL	increased	by	$1.0	billion	from	the	year	ago	quarter,	increasing	as	a	percentage	of	total	loans	and	leases	to	2.22%	compared	to	1.04%	a	year	ago.		The	ALLL	as	a	percentage	of	period-end	total	NALs	increased	to	341%	from	167%	over	the	same	period.		The	ACL	increased	by	$1.0	billion	from	the	year-ago	quarter	to	$1.9	billion,	or	2.29%	of	total	loans	and	leases.		On	a	linked	quarter	basis,	the	ACL	decreased	$12	million.		We	believe	the	levels	of	the	ALLL	and	ACL	are	appropriate	given	the	current	level	of	problem	loans	and	the	economic	outlook.94					Huntington	Bancshares	IncorporatedTable	37	-	Selected	Quarterly	Financial	InformationThree	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2020202020202020Interest	income$	878	$	892	$	902	$	975	Interest	expense	53		75		110		185	Net	interest	income	825		817		792		790	Provision	for	credit	losses	103		177		327		441	Net	interest	income	after	provision	for	credit	losses	722		640		465		349	Total	noninterest	income	409		430		391		361	Total	noninterest	expense	756		712		675		652	Income	before	income	taxes	375		358		181		58	Provision	(benefit)	for	income	taxes	59		55		31		10	Net	income	316		303		150		48	Dividends	on	preferred	shares	35		28		19		18	Net	income	applicable	to	common	shares$	281	$	275	$	131	$	30	Common	shares	outstanding	Average—basic	1,017		1,017		1,016		1,018	Average—diluted	1,036		1,031		1,029		1,035	Ending	1,017		1,017		1,017		1,014	Book	value	per	common	share$	10.62	$	10.54	$	10.44	$	10.42	Tangible	book	value	per	common	share	(1)	8.51		8.43		8.32		8.28	Per	common	shareNet	income—basic$	0.28	$	0.27	$	0.13	$	0.03	Net	income—diluted	0.27		0.27		0.13		0.03	Return	on	average	total	assets	1.04	%	1.01	%	0.51	%	0.17	%Return	on	average	common	shareholders’	equity	10.4		10.2		5.0		1.1	Return	on	average	tangible	common	shareholders’	equity	(2)	13.3		13.2		6.7		1.8	Efficiency	ratio	(3)	60.2		56.1		55.9		55.4	Effective	tax	rate	15.8		15.2		17.2		17.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	3.13	%	3.22	%	3.35	%	3.88	%	Interest	expense	0.19		0.26		0.41		0.74	Net	interest	margin	(4)	2.94	%	2.96	%	2.94	%	3.14	%Revenue—FTENet	interest	income$	825	$	817	$	792	$	790	FTE	adjustment	5		5		5		6	Net	interest	income	(4)	830		822		797		796	Noninterest	income	409		430		391		361	Total	revenue	(4)$	1,239	$	1,252	$	1,188	$	1,157	Table	38	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2020(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	88,878	$	88,417	$	87,323	$	90,193	Tier	1	leverage	ratio	(period	end)	9.32	%	9.31	%	8.86	%	9.01	%CET	1	risk-based	capital	ratio		10.00		9.89		9.84		9.47	Tier	1	risk-based	capital	ratio	(period	end)	12.47		12.37		11.79		10.81	Total	risk-based	capital	ratio	(period	end)		14.46		14.39		13.84		12.74	Tangible	common	equity	/	tangible	asset	ratio	(5)	(7)	7.16		7.27		7.28		7.52	Tangible	equity	/	tangible	asset	ratio	(6)	(7)	8.98		9.13		8.74		8.60	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.74		9.70		9.69		9.32	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax	liability.2020	Form	10-K					95(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.	(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.Table	39	-	Selected	Quarterly	Financial	Information	Three	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2019201920192019Interest	income$	1,011	$	1,052	$	1,068	$	1,070	Interest	expense	231		253		256		248	Net	interest	income	780		799		812		822	Provision	for	credit	losses	79		82		59		67	Net	interest	income	after	provision	for	credit	losses	701		717		753		755	Total	noninterest	income	372		389		374		319	Total	noninterest	expense	701		667		700		653	Income	before	income	taxes	372		439		427		421	Provision	(benefit)	for	income	taxes	55		67		63		63	Net	income	317		372		364		358	Dividends	on	preferred	shares	19		18		18		19	Net	income	applicable	to	common	shares$	298	$	354	$	346	$	339	Common	shares	outstandingAverage—basic	1,029		1,035		1,045		1,047	Average—diluted	1,047		1,051		1,060		1,066	Ending	1,020		1,033		1,038		1,046	Book	value	per	share$	10.38	$	10.37	$	10.08	$	9.78	Tangible	book	value	per	share	(1)	8.25		8.25		7.97		7.67	Per	common	shareNet	income—basic$	0.29	$	0.34	$	0.33	$	0.32	Net	income	—diluted	0.28		0.34		0.33		0.32	Return	on	average	total	assets	1.15	%	1.37	%	1.36	%	1.35	%Return	on	average	common	shareholders’	equity	11.1		13.4		13.5		13.8	Return	on	average	tangible	common	shareholders’	equity	(2)	14.3		17.3		17.7		18.3	Efficiency	ratio	(3)	58.4		54.7		57.6		55.8	Effective	tax	rate	14.8		15.4		14.6		15.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	4.03	%	4.21	%	4.35	%	4.40	%Interest	expense	0.91		1.01		1.04		1.01	Net	interest	margin	(4)	3.12	%	3.20	%	3.31	%	3.39	%Revenue—FTENet	interest	income$	780	$	799	$	812	$	822	FTE	adjustment	6		6		7		7	Net	interest	income	(4)	786		805		819		829	Noninterest	income	372		389		374		319	Total	revenue	(4)$	1,158	$	1,194	$	1,193	$	1,148	96					Huntington	Bancshares	IncorporatedTable	40	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2019(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	87,512	$	86,719	$	86,332	$	85,966	Tier	1	leverage	ratio	9.26	%	9.34	%	9.24	%	9.16	%Tier	1	risk-based	capital	ratio	9.88		10.02		9.88		9.84	Total	risk-based	capital	ratio	11.26		11.41		11.28		11.25	Tier	1	common	risk-based	capital	ratio	13.04		13.29		13.13		13.11	Tangible	common	equity	/	tangible	asset	ratio	(5)(7)	7.88		8.00		7.80		7.57	Tangible	equity	/	tangible	asset	ratio	(6)(7)	9.01		9.13		8.93		8.71	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.62		9.83		9.58		9.34	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax.(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.ADDITIONAL	DISCLOSURESForward-Looking	StatementsThis	report,	including	MD&A,	contains	certain	forward-looking	statements,	including,	but	not	limited	to,	certain	plans,	expectations,	goals,	projections,	and	statements,	which	are	not	historical	facts	and	are	subject	to	numerous	assumptions,	risks,	and	uncertainties.		Statements	that	do	not	describe	historical	or	current	facts,	including	statements	about	beliefs	and	expectations,	are	forward-looking	statements.		Forward-looking	statements	may	be	identified	by	words	such	as	expect,	anticipate,	believe,	intend,	estimate,	plan,	target,	goal,	or	similar	expressions,	or	future	or	conditional	verbs	such	as	will,	may,	might,	should,	would,	could,	or	similar	variations.		The	forward-looking	statements	are	intended	to	be	subject	to	the	safe	harbor	provided	by	Section	27A	of	the	Securities	Act	of	1933,	Section	21E	of	the	Securities	Exchange	Act	of	1934,	and	the	Private	Securities	Litigation	Reform	Act	of	1995.While	there	is	no	assurance	that	any	list	of	risks	and	uncertainties	or	risk	factors	is	complete,	below	are	certain	factors	which	could	cause	actual	results	to	differ	materially	from	those	contained	or	implied	in	the	forward-looking	statements:		changes	in	general	economic,	political,	or	industry	conditions;	the	magnitude	and	duration	of	the	COVID-19	pandemic	and	its	impact	on	the	global	economy	and	financial	market	conditions	and	our	business,	results	of	operations,	and	financial	condition;	uncertainty	in	U.S.	fiscal	and	monetary	policy,	including	the	interest	rate	policies	of	the	Federal	Reserve	Board;	volatility	and	disruptions	in	global	capital	and	credit	markets;	movements	in	interest	rates;	reform	of	LIBOR;	competitive	pressures	on	product	pricing	and	services;	success,	impact,	and	timing	of	our	business	strategies,	including	market	acceptance	of	any	new	products	or	services	including	those	implementing	our	“Fair	Play”	banking	philosophy;	the	nature,	extent,	timing,	and	results	of	governmental	actions,	examinations,	reviews,	reforms,	regulations,	and	interpretations,	including	those	related	to	the	Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act	and	the	Basel	III	regulatory	capital	reforms,	as	well	as	those	involving	the	OCC,	Federal	Reserve,	FDIC,	and	CFPB;	the	occurrence	of	any	event,	change	or	other	circumstances	that	could	give	rise	to	the	right	of	one	or	both	of	the	parties	to	terminate	the	merger	agreement	between	Huntington	and	TCF;	the	outcome	of	any	legal	proceedings	that	may	be	instituted	against	Huntington	or	TCF;	delays	in	completing	the	transaction;	the	failure	to	obtain	necessary	regulatory	approvals	(and	the	risk	that	such	approvals	may	result	in	the	imposition	of	conditions	that	could	adversely	affect	the	combined	company	or	the	expected	benefits	of	the	transaction);	the	failure	to	obtain	shareholder	approvals	or	to	satisfy	any	of	the	other	conditions	to	the	transaction	on	a	timely	basis	or	at	all;	the	possibility	that	the	anticipated	benefits	of	the	transaction	are	not	realized	when	expected	or	at	all,	including	as	a	result	of	the	impact	of,	or	problems	arising	from,	the	integration	of	the	two	2020	Form	10-K					97(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.	(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.Table	39	-	Selected	Quarterly	Financial	Information	Three	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2019201920192019Interest	income$	1,011	$	1,052	$	1,068	$	1,070	Interest	expense	231		253		256		248	Net	interest	income	780		799		812		822	Provision	for	credit	losses	79		82		59		67	Net	interest	income	after	provision	for	credit	losses	701		717		753		755	Total	noninterest	income	372		389		374		319	Total	noninterest	expense	701		667		700		653	Income	before	income	taxes	372		439		427		421	Provision	(benefit)	for	income	taxes	55		67		63		63	Net	income	317		372		364		358	Dividends	on	preferred	shares	19		18		18		19	Net	income	applicable	to	common	shares$	298	$	354	$	346	$	339	Common	shares	outstandingAverage—basic	1,029		1,035		1,045		1,047	Average—diluted	1,047		1,051		1,060		1,066	Ending	1,020		1,033		1,038		1,046	Book	value	per	share$	10.38	$	10.37	$	10.08	$	9.78	Tangible	book	value	per	share	(1)	8.25		8.25		7.97		7.67	Per	common	shareNet	income—basic$	0.29	$	0.34	$	0.33	$	0.32	Net	income	—diluted	0.28		0.34		0.33		0.32	Return	on	average	total	assets	1.15	%	1.37	%	1.36	%	1.35	%Return	on	average	common	shareholders’	equity	11.1		13.4		13.5		13.8	Return	on	average	tangible	common	shareholders’	equity	(2)	14.3		17.3		17.7		18.3	Efficiency	ratio	(3)	58.4		54.7		57.6		55.8	Effective	tax	rate	14.8		15.4		14.6		15.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	4.03	%	4.21	%	4.35	%	4.40	%Interest	expense	0.91		1.01		1.04		1.01	Net	interest	margin	(4)	3.12	%	3.20	%	3.31	%	3.39	%Revenue—FTENet	interest	income$	780	$	799	$	812	$	822	FTE	adjustment	6		6		7		7	Net	interest	income	(4)	786		805		819		829	Noninterest	income	372		389		374		319	Total	revenue	(4)$	1,158	$	1,194	$	1,193	$	1,148	96					Huntington	Bancshares	IncorporatedTable	40	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2019(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	87,512	$	86,719	$	86,332	$	85,966	Tier	1	leverage	ratio	9.26	%	9.34	%	9.24	%	9.16	%Tier	1	risk-based	capital	ratio	9.88		10.02		9.88		9.84	Total	risk-based	capital	ratio	11.26		11.41		11.28		11.25	Tier	1	common	risk-based	capital	ratio	13.04		13.29		13.13		13.11	Tangible	common	equity	/	tangible	asset	ratio	(5)(7)	7.88		8.00		7.80		7.57	Tangible	equity	/	tangible	asset	ratio	(6)(7)	9.01		9.13		8.93		8.71	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.62		9.83		9.58		9.34	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax.(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.ADDITIONAL	DISCLOSURESForward-Looking	StatementsThis	report,	including	MD&A,	contains	certain	forward-looking	statements,	including,	but	not	limited	to,	certain	plans,	expectations,	goals,	projections,	and	statements,	which	are	not	historical	facts	and	are	subject	to	numerous	assumptions,	risks,	and	uncertainties.		Statements	that	do	not	describe	historical	or	current	facts,	including	statements	about	beliefs	and	expectations,	are	forward-looking	statements.		Forward-looking	statements	may	be	identified	by	words	such	as	expect,	anticipate,	believe,	intend,	estimate,	plan,	target,	goal,	or	similar	expressions,	or	future	or	conditional	verbs	such	as	will,	may,	might,	should,	would,	could,	or	similar	variations.		The	forward-looking	statements	are	intended	to	be	subject	to	the	safe	harbor	provided	by	Section	27A	of	the	Securities	Act	of	1933,	Section	21E	of	the	Securities	Exchange	Act	of	1934,	and	the	Private	Securities	Litigation	Reform	Act	of	1995.While	there	is	no	assurance	that	any	list	of	risks	and	uncertainties	or	risk	factors	is	complete,	below	are	certain	factors	which	could	cause	actual	results	to	differ	materially	from	those	contained	or	implied	in	the	forward-looking	statements:		changes	in	general	economic,	political,	or	industry	conditions;	the	magnitude	and	duration	of	the	COVID-19	pandemic	and	its	impact	on	the	global	economy	and	financial	market	conditions	and	our	business,	results	of	operations,	and	financial	condition;	uncertainty	in	U.S.	fiscal	and	monetary	policy,	including	the	interest	rate	policies	of	the	Federal	Reserve	Board;	volatility	and	disruptions	in	global	capital	and	credit	markets;	movements	in	interest	rates;	reform	of	LIBOR;	competitive	pressures	on	product	pricing	and	services;	success,	impact,	and	timing	of	our	business	strategies,	including	market	acceptance	of	any	new	products	or	services	including	those	implementing	our	“Fair	Play”	banking	philosophy;	the	nature,	extent,	timing,	and	results	of	governmental	actions,	examinations,	reviews,	reforms,	regulations,	and	interpretations,	including	those	related	to	the	Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act	and	the	Basel	III	regulatory	capital	reforms,	as	well	as	those	involving	the	OCC,	Federal	Reserve,	FDIC,	and	CFPB;	the	occurrence	of	any	event,	change	or	other	circumstances	that	could	give	rise	to	the	right	of	one	or	both	of	the	parties	to	terminate	the	merger	agreement	between	Huntington	and	TCF;	the	outcome	of	any	legal	proceedings	that	may	be	instituted	against	Huntington	or	TCF;	delays	in	completing	the	transaction;	the	failure	to	obtain	necessary	regulatory	approvals	(and	the	risk	that	such	approvals	may	result	in	the	imposition	of	conditions	that	could	adversely	affect	the	combined	company	or	the	expected	benefits	of	the	transaction);	the	failure	to	obtain	shareholder	approvals	or	to	satisfy	any	of	the	other	conditions	to	the	transaction	on	a	timely	basis	or	at	all;	the	possibility	that	the	anticipated	benefits	of	the	transaction	are	not	realized	when	expected	or	at	all,	including	as	a	result	of	the	impact	of,	or	problems	arising	from,	the	integration	of	the	two	2020	Form	10-K					97(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.	(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.Table	39	-	Selected	Quarterly	Financial	Information	Three	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2019201920192019Interest	income$	1,011	$	1,052	$	1,068	$	1,070	Interest	expense	231		253		256		248	Net	interest	income	780		799		812		822	Provision	for	credit	losses	79		82		59		67	Net	interest	income	after	provision	for	credit	losses	701		717		753		755	Total	noninterest	income	372		389		374		319	Total	noninterest	expense	701		667		700		653	Income	before	income	taxes	372		439		427		421	Provision	(benefit)	for	income	taxes	55		67		63		63	Net	income	317		372		364		358	Dividends	on	preferred	shares	19		18		18		19	Net	income	applicable	to	common	shares$	298	$	354	$	346	$	339	Common	shares	outstandingAverage—basic	1,029		1,035		1,045		1,047	Average—diluted	1,047		1,051		1,060		1,066	Ending	1,020		1,033		1,038		1,046	Book	value	per	share$	10.38	$	10.37	$	10.08	$	9.78	Tangible	book	value	per	share	(1)	8.25		8.25		7.97		7.67	Per	common	shareNet	income—basic$	0.29	$	0.34	$	0.33	$	0.32	Net	income	—diluted	0.28		0.34		0.33		0.32	Return	on	average	total	assets	1.15	%	1.37	%	1.36	%	1.35	%Return	on	average	common	shareholders’	equity	11.1		13.4		13.5		13.8	Return	on	average	tangible	common	shareholders’	equity	(2)	14.3		17.3		17.7		18.3	Efficiency	ratio	(3)	58.4		54.7		57.6		55.8	Effective	tax	rate	14.8		15.4		14.6		15.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	4.03	%	4.21	%	4.35	%	4.40	%Interest	expense	0.91		1.01		1.04		1.01	Net	interest	margin	(4)	3.12	%	3.20	%	3.31	%	3.39	%Revenue—FTENet	interest	income$	780	$	799	$	812	$	822	FTE	adjustment	6		6		7		7	Net	interest	income	(4)	786		805		819		829	Noninterest	income	372		389		374		319	Total	revenue	(4)$	1,158	$	1,194	$	1,193	$	1,148	96					Huntington	Bancshares	IncorporatedTable	40	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2019(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	87,512	$	86,719	$	86,332	$	85,966	Tier	1	leverage	ratio	9.26	%	9.34	%	9.24	%	9.16	%Tier	1	risk-based	capital	ratio	9.88		10.02		9.88		9.84	Total	risk-based	capital	ratio	11.26		11.41		11.28		11.25	Tier	1	common	risk-based	capital	ratio	13.04		13.29		13.13		13.11	Tangible	common	equity	/	tangible	asset	ratio	(5)(7)	7.88		8.00		7.80		7.57	Tangible	equity	/	tangible	asset	ratio	(6)(7)	9.01		9.13		8.93		8.71	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.62		9.83		9.58		9.34	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax.(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.ADDITIONAL	DISCLOSURESForward-Looking	StatementsThis	report,	including	MD&A,	contains	certain	forward-looking	statements,	including,	but	not	limited	to,	certain	plans,	expectations,	goals,	projections,	and	statements,	which	are	not	historical	facts	and	are	subject	to	numerous	assumptions,	risks,	and	uncertainties.		Statements	that	do	not	describe	historical	or	current	facts,	including	statements	about	beliefs	and	expectations,	are	forward-looking	statements.		Forward-looking	statements	may	be	identified	by	words	such	as	expect,	anticipate,	believe,	intend,	estimate,	plan,	target,	goal,	or	similar	expressions,	or	future	or	conditional	verbs	such	as	will,	may,	might,	should,	would,	could,	or	similar	variations.		The	forward-looking	statements	are	intended	to	be	subject	to	the	safe	harbor	provided	by	Section	27A	of	the	Securities	Act	of	1933,	Section	21E	of	the	Securities	Exchange	Act	of	1934,	and	the	Private	Securities	Litigation	Reform	Act	of	1995.While	there	is	no	assurance	that	any	list	of	risks	and	uncertainties	or	risk	factors	is	complete,	below	are	certain	factors	which	could	cause	actual	results	to	differ	materially	from	those	contained	or	implied	in	the	forward-looking	statements:		changes	in	general	economic,	political,	or	industry	conditions;	the	magnitude	and	duration	of	the	COVID-19	pandemic	and	its	impact	on	the	global	economy	and	financial	market	conditions	and	our	business,	results	of	operations,	and	financial	condition;	uncertainty	in	U.S.	fiscal	and	monetary	policy,	including	the	interest	rate	policies	of	the	Federal	Reserve	Board;	volatility	and	disruptions	in	global	capital	and	credit	markets;	movements	in	interest	rates;	reform	of	LIBOR;	competitive	pressures	on	product	pricing	and	services;	success,	impact,	and	timing	of	our	business	strategies,	including	market	acceptance	of	any	new	products	or	services	including	those	implementing	our	“Fair	Play”	banking	philosophy;	the	nature,	extent,	timing,	and	results	of	governmental	actions,	examinations,	reviews,	reforms,	regulations,	and	interpretations,	including	those	related	to	the	Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act	and	the	Basel	III	regulatory	capital	reforms,	as	well	as	those	involving	the	OCC,	Federal	Reserve,	FDIC,	and	CFPB;	the	occurrence	of	any	event,	change	or	other	circumstances	that	could	give	rise	to	the	right	of	one	or	both	of	the	parties	to	terminate	the	merger	agreement	between	Huntington	and	TCF;	the	outcome	of	any	legal	proceedings	that	may	be	instituted	against	Huntington	or	TCF;	delays	in	completing	the	transaction;	the	failure	to	obtain	necessary	regulatory	approvals	(and	the	risk	that	such	approvals	may	result	in	the	imposition	of	conditions	that	could	adversely	affect	the	combined	company	or	the	expected	benefits	of	the	transaction);	the	failure	to	obtain	shareholder	approvals	or	to	satisfy	any	of	the	other	conditions	to	the	transaction	on	a	timely	basis	or	at	all;	the	possibility	that	the	anticipated	benefits	of	the	transaction	are	not	realized	when	expected	or	at	all,	including	as	a	result	of	the	impact	of,	or	problems	arising	from,	the	integration	of	the	two	2020	Form	10-K					97(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.	(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.Table	39	-	Selected	Quarterly	Financial	Information	Three	Months	Ended(amounts	in	millions,	except	per	share	data)December	31,September	30,June	30,March	31,2019201920192019Interest	income$	1,011	$	1,052	$	1,068	$	1,070	Interest	expense	231		253		256		248	Net	interest	income	780		799		812		822	Provision	for	credit	losses	79		82		59		67	Net	interest	income	after	provision	for	credit	losses	701		717		753		755	Total	noninterest	income	372		389		374		319	Total	noninterest	expense	701		667		700		653	Income	before	income	taxes	372		439		427		421	Provision	(benefit)	for	income	taxes	55		67		63		63	Net	income	317		372		364		358	Dividends	on	preferred	shares	19		18		18		19	Net	income	applicable	to	common	shares$	298	$	354	$	346	$	339	Common	shares	outstandingAverage—basic	1,029		1,035		1,045		1,047	Average—diluted	1,047		1,051		1,060		1,066	Ending	1,020		1,033		1,038		1,046	Book	value	per	share$	10.38	$	10.37	$	10.08	$	9.78	Tangible	book	value	per	share	(1)	8.25		8.25		7.97		7.67	Per	common	shareNet	income—basic$	0.29	$	0.34	$	0.33	$	0.32	Net	income	—diluted	0.28		0.34		0.33		0.32	Return	on	average	total	assets	1.15	%	1.37	%	1.36	%	1.35	%Return	on	average	common	shareholders’	equity	11.1		13.4		13.5		13.8	Return	on	average	tangible	common	shareholders’	equity	(2)	14.3		17.3		17.7		18.3	Efficiency	ratio	(3)	58.4		54.7		57.6		55.8	Effective	tax	rate	14.8		15.4		14.6		15.0	Margin	analysis-as	a	%	of	average	earning	assets	(5)Interest	income	(4)	4.03	%	4.21	%	4.35	%	4.40	%Interest	expense	0.91		1.01		1.04		1.01	Net	interest	margin	(4)	3.12	%	3.20	%	3.31	%	3.39	%Revenue—FTENet	interest	income$	780	$	799	$	812	$	822	FTE	adjustment	6		6		7		7	Net	interest	income	(4)	786		805		819		829	Noninterest	income	372		389		374		319	Total	revenue	(4)$	1,158	$	1,194	$	1,193	$	1,148	96					Huntington	Bancshares	IncorporatedTable	40	-	Selected	Quarterly	Capital	DataCapital	adequacy	(Basel	III)2019(dollar	amounts	in	millions)December	31,September	30,June	30,March	31,Total	risk-weighted	assets$	87,512	$	86,719	$	86,332	$	85,966	Tier	1	leverage	ratio	9.26	%	9.34	%	9.24	%	9.16	%Tier	1	risk-based	capital	ratio	9.88		10.02		9.88		9.84	Total	risk-based	capital	ratio	11.26		11.41		11.28		11.25	Tier	1	common	risk-based	capital	ratio	13.04		13.29		13.13		13.11	Tangible	common	equity	/	tangible	asset	ratio	(5)(7)	7.88		8.00		7.80		7.57	Tangible	equity	/	tangible	asset	ratio	(6)(7)	9.01		9.13		8.93		8.71	Tangible	common	equity	/	risk-weighted	assets	ratio	(7)	9.62		9.83		9.58		9.34	(1)Other	intangible	assets	are	net	of	deferred	tax	liability.(2)Net	income	applicable	to	common	shares	excluding	expense	for	amortization	of	intangibles	for	the	period	divided	by	average	tangible	shareholders’	equity.		Average	tangible	shareholders’	equity	equals	average	total	shareholders’	equity	less	average	intangible	assets	and	goodwill.		Expense	for	amortization	of	intangibles	and	average	intangible	assets	are	net	of	deferred	tax.(3)Noninterest	expense	less	amortization	of	intangibles	and	goodwill	impairment	divided	by	the	sum	of	FTE	net	interest	income	and	noninterest	income	excluding	securities	gains	(losses).(4)Presented	on	a	FTE	basis	assuming	a	21%	tax	rate.(5)Tangible	common	equity	(total	common	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).		Other	intangible	assets	are	net	of	deferred	tax.	(6)Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	Other	intangible	assets	are	net	of	deferred	tax.(7)Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.		Additionally,	any	ratios	utilizing	these	financial	measures	are	also	non-GAAP.		These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	condition	and	capital	strength.		Other	companies	may	calculate	these	financial	measures	differently.ADDITIONAL	DISCLOSURESForward-Looking	StatementsThis	report,	including	MD&A,	contains	certain	forward-looking	statements,	including,	but	not	limited	to,	certain	plans,	expectations,	goals,	projections,	and	statements,	which	are	not	historical	facts	and	are	subject	to	numerous	assumptions,	risks,	and	uncertainties.		Statements	that	do	not	describe	historical	or	current	facts,	including	statements	about	beliefs	and	expectations,	are	forward-looking	statements.		Forward-looking	statements	may	be	identified	by	words	such	as	expect,	anticipate,	believe,	intend,	estimate,	plan,	target,	goal,	or	similar	expressions,	or	future	or	conditional	verbs	such	as	will,	may,	might,	should,	would,	could,	or	similar	variations.		The	forward-looking	statements	are	intended	to	be	subject	to	the	safe	harbor	provided	by	Section	27A	of	the	Securities	Act	of	1933,	Section	21E	of	the	Securities	Exchange	Act	of	1934,	and	the	Private	Securities	Litigation	Reform	Act	of	1995.While	there	is	no	assurance	that	any	list	of	risks	and	uncertainties	or	risk	factors	is	complete,	below	are	certain	factors	which	could	cause	actual	results	to	differ	materially	from	those	contained	or	implied	in	the	forward-looking	statements:		changes	in	general	economic,	political,	or	industry	conditions;	the	magnitude	and	duration	of	the	COVID-19	pandemic	and	its	impact	on	the	global	economy	and	financial	market	conditions	and	our	business,	results	of	operations,	and	financial	condition;	uncertainty	in	U.S.	fiscal	and	monetary	policy,	including	the	interest	rate	policies	of	the	Federal	Reserve	Board;	volatility	and	disruptions	in	global	capital	and	credit	markets;	movements	in	interest	rates;	reform	of	LIBOR;	competitive	pressures	on	product	pricing	and	services;	success,	impact,	and	timing	of	our	business	strategies,	including	market	acceptance	of	any	new	products	or	services	including	those	implementing	our	“Fair	Play”	banking	philosophy;	the	nature,	extent,	timing,	and	results	of	governmental	actions,	examinations,	reviews,	reforms,	regulations,	and	interpretations,	including	those	related	to	the	Dodd-Frank	Wall	Street	Reform	and	Consumer	Protection	Act	and	the	Basel	III	regulatory	capital	reforms,	as	well	as	those	involving	the	OCC,	Federal	Reserve,	FDIC,	and	CFPB;	the	occurrence	of	any	event,	change	or	other	circumstances	that	could	give	rise	to	the	right	of	one	or	both	of	the	parties	to	terminate	the	merger	agreement	between	Huntington	and	TCF;	the	outcome	of	any	legal	proceedings	that	may	be	instituted	against	Huntington	or	TCF;	delays	in	completing	the	transaction;	the	failure	to	obtain	necessary	regulatory	approvals	(and	the	risk	that	such	approvals	may	result	in	the	imposition	of	conditions	that	could	adversely	affect	the	combined	company	or	the	expected	benefits	of	the	transaction);	the	failure	to	obtain	shareholder	approvals	or	to	satisfy	any	of	the	other	conditions	to	the	transaction	on	a	timely	basis	or	at	all;	the	possibility	that	the	anticipated	benefits	of	the	transaction	are	not	realized	when	expected	or	at	all,	including	as	a	result	of	the	impact	of,	or	problems	arising	from,	the	integration	of	the	two	2020	Form	10-K					97companies	or	as	a	result	of	the	strength	of	the	economy	and	competitive	factors	in	the	areas	where	Huntington	and	
companies	or	as	a	result	of	the	strength	of	the	economy	and	competitive	factors	in	the	areas	where	Huntington	and	
TCF	do	business;	the	possibility	that	the	transaction	may	be	more	expensive	to	complete	than	anticipated,	including	
TCF	do	business;	the	possibility	that	the	transaction	may	be	more	expensive	to	complete	than	anticipated,	including	
as	a	result	of	unexpected	factors	or	events;	diversion	of	management’s	attention	from	ongoing	business	operations	
as	a	result	of	unexpected	factors	or	events;	diversion	of	management’s	attention	from	ongoing	business	operations	
and	opportunities;	potential	adverse	reactions	or	changes	to	business	or	employee	relationships,	including	those	
and	opportunities;	potential	adverse	reactions	or	changes	to	business	or	employee	relationships,	including	those	
resulting	from	the	announcement	or	completion	of	the	transaction;	the	ability	to	complete	the	transaction	and	
resulting	from	the	announcement	or	completion	of	the	transaction;	the	ability	to	complete	the	transaction	and	
integration	of	Huntington	and	TCF	successfully;	the	dilution	caused	by	Huntington’s	issuance	of	additional	shares	of	
integration	of	Huntington	and	TCF	successfully;	the	dilution	caused	by	Huntington’s	issuance	of	additional	shares	of	
its	capital	stock	in	connection	with	the	transaction;	and	other	factors	that	may	affect	the	future	results	of	
its	capital	stock	in	connection	with	the	transaction;	and	other	factors	that	may	affect	the	future	results	of	
Huntington	and	TCF.
Huntington	and	TCF.

All	forward-looking	statements	speak	only	as	of	the	date	they	are	made	and	are	based	on	information	available	
All	forward-looking	statements	speak	only	as	of	the	date	they	are	made	and	are	based	on	information	available	

at	that	time.		Neither	Huntington	nor	TCF	assumes	any	obligation	to	update	forward-looking	statements	to	reflect	
at	that	time.		Neither	Huntington	nor	TCF	assumes	any	obligation	to	update	forward-looking	statements	to	reflect	
circumstances	or	events	that	occur	after	the	date	the	forward-looking	statements	were	made	or	to	reflect	the	
circumstances	or	events	that	occur	after	the	date	the	forward-looking	statements	were	made	or	to	reflect	the	
occurrence	of	unanticipated	events	except	as	required	by	federal	securities	laws.		As	forward-looking	statements	
occurrence	of	unanticipated	events	except	as	required	by	federal	securities	laws.		As	forward-looking	statements	
involve	significant	risks	and	uncertainties,	caution	should	be	exercised	against	placing	undue	reliance	on	such	
involve	significant	risks	and	uncertainties,	caution	should	be	exercised	against	placing	undue	reliance	on	such	
statements.		
statements.		

Non-GAAP	Financial	Measures
Non-GAAP	Financial	Measures

This	document	contains	GAAP	financial	measures	and	non-GAAP	financial	measures	where	management	
This	document	contains	GAAP	financial	measures	and	non-GAAP	financial	measures	where	management	
believes	it	to	be	helpful	in	understanding	our	results	of	operations	or	financial	position.		Where	non-GAAP	financial	
believes	it	to	be	helpful	in	understanding	our	results	of	operations	or	financial	position.		Where	non-GAAP	financial	
measures	are	used,	the	comparable	GAAP	financial	measure,	as	well	as	the	reconciliation	to	the	comparable	GAAP	
measures	are	used,	the	comparable	GAAP	financial	measure,	as	well	as	the	reconciliation	to	the	comparable	GAAP	
financial	measure,	can	be	found	herein.	
financial	measure,	can	be	found	herein.	

Fully-Taxable	Equivalent	Basis
Fully-Taxable	Equivalent	Basis

Interest	income,	yields,	and	ratios	on	a	FTE	basis	are	considered	non-GAAP	financial	measures.		Management	
Interest	income,	yields,	and	ratios	on	a	FTE	basis	are	considered	non-GAAP	financial	measures.		Management	

believes	net	interest	income	on	a	FTE	basis	provides	an	insightful	picture	of	the	interest	margin	for	comparison	
believes	net	interest	income	on	a	FTE	basis	provides	an	insightful	picture	of	the	interest	margin	for	comparison	
purposes.		The	FTE	basis	also	allows	management	to	assess	the	comparability	of	revenue	arising	from	both	taxable	
purposes.		The	FTE	basis	also	allows	management	to	assess	the	comparability	of	revenue	arising	from	both	taxable	
and	tax-exempt	sources.		The	FTE	basis	assumes	a	federal	statutory	tax	rate	of	21	percent.		We	encourage	readers	to	
and	tax-exempt	sources.		The	FTE	basis	assumes	a	federal	statutory	tax	rate	of	21	percent.		We	encourage	readers	to	
consider	the	Consolidated	Financial	Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	
consider	the	Consolidated	Financial	Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	
entirety,	and	not	to	rely	on	any	single	financial	measure.
entirety,	and	not	to	rely	on	any	single	financial	measure.

Non-Regulatory	Capital	Ratios
Non-Regulatory	Capital	Ratios

In	addition	to	capital	ratios	defined	by	banking	regulators,	the	Company	considers	various	other	measures	when	
In	addition	to	capital	ratios	defined	by	banking	regulators,	the	Company	considers	various	other	measures	when	

evaluating	capital	utilization	and	adequacy,	including:
evaluating	capital	utilization	and	adequacy,	including:

•
•
•
•
•
•

Tangible	common	equity	to	tangible	assets,
Tangible	common	equity	to	tangible	assets,
Tangible	equity	to	tangible	assets,	and
Tangible	equity	to	tangible	assets,	and
Tangible	common	equity	to	risk-weighted	assets	using	Basel	III	definitions.
Tangible	common	equity	to	risk-weighted	assets	using	Basel	III	definitions.

These	non-regulatory	capital	ratios	are	viewed	by	management	as	useful	additional	methods	of	reflecting	the	
These	non-regulatory	capital	ratios	are	viewed	by	management	as	useful	additional	methods	of	reflecting	the	

level	of	capital	available	to	withstand	unexpected	market	conditions.		Additionally,	presentation	of	these	ratios	
level	of	capital	available	to	withstand	unexpected	market	conditions.		Additionally,	presentation	of	these	ratios	
allows	readers	to	compare	our	capitalization	to	other	financial	services	companies.		These	ratios	differ	from	capital	
allows	readers	to	compare	our	capitalization	to	other	financial	services	companies.		These	ratios	differ	from	capital	
ratios	defined	by	banking	regulators	principally	in	that	the	numerator	excludes	goodwill	and	other	intangible	assets,	
ratios	defined	by	banking	regulators	principally	in	that	the	numerator	excludes	goodwill	and	other	intangible	assets,	
the	nature	and	extent	of	which	varies	among	different	financial	services	companies.		These	ratios	are	not	defined	in	
the	nature	and	extent	of	which	varies	among	different	financial	services	companies.		These	ratios	are	not	defined	in	
GAAP	or	federal	banking	regulations.		As	a	result,	these	non-regulatory	capital	ratios	disclosed	by	the	Company	are	
GAAP	or	federal	banking	regulations.		As	a	result,	these	non-regulatory	capital	ratios	disclosed	by	the	Company	are	
considered	non-GAAP	financial	measures.
considered	non-GAAP	financial	measures.

Because	there	are	no	standardized	definitions	for	these	non-regulatory	capital	ratios,	the	Company’s	calculation	
Because	there	are	no	standardized	definitions	for	these	non-regulatory	capital	ratios,	the	Company’s	calculation	

methods	may	differ	from	those	used	by	other	financial	services	companies.		Also,	there	may	be	limits	in	the	
methods	may	differ	from	those	used	by	other	financial	services	companies.		Also,	there	may	be	limits	in	the	
usefulness	of	these	measures	to	investors.		As	a	result,	we	encourage	readers	to	consider	the	Consolidated	Financial	
usefulness	of	these	measures	to	investors.		As	a	result,	we	encourage	readers	to	consider	the	Consolidated	Financial	
Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	entirety,	and	not	to	rely	on	any	
Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	entirety,	and	not	to	rely	on	any	
single	financial	measure.
single	financial	measure.

Risk	Factors
Risk	Factors

More	information	on	risk	is	discussed	in	the	Risk	Factors	section	included	in	Item	1A:	“Risk	Factors”	of	this	
More	information	on	risk	is	discussed	in	the	Risk	Factors	section	included	in	Item	1A:	“Risk	Factors”	of	this	

report.		Additional	information	regarding	risk	factors	can	also	be	found	in	the	Risk	Management	and	Capital	
report.		Additional	information	regarding	risk	factors	can	also	be	found	in	the	Risk	Management	and	Capital	
discussion	of	this	report,	as	well	as	the	“Regulatory	Matters”	section	included	in	Item	1	:	Business	of	this	report.
discussion	of	this	report,	as	well	as	the	“Regulatory	Matters”	section	included	in	Item	1	:	Business	of	this	report.

Critical	Accounting	Policies	and	Use	of	Significant	Estimates	

Critical	Accounting	Policies	and	Use	of	Significant	Estimates	

Our	Consolidated	Financial	Statements	are	prepared	in	accordance	with	GAAP.		The	preparation	of	financial	

Our	Consolidated	Financial	Statements	are	prepared	in	accordance	with	GAAP.		The	preparation	of	financial	

statements	in	conformity	with	GAAP	requires	us	to	establish	accounting	policies	and	make	estimates	that	affect	

statements	in	conformity	with	GAAP	requires	us	to	establish	accounting	policies	and	make	estimates	that	affect	

amounts	reported	in	our	Consolidated	Financial	Statements.		Note	1	-	“Significant	Accounting	Policies”	of	the	Notes	

amounts	reported	in	our	Consolidated	Financial	Statements.		Note	1	-	“Significant	Accounting	Policies”	of	the	Notes	

to	Consolidated	Financial	Statements,	which	is	incorporated	by	reference	into	this	MD&A,	describes	the	significant	

to	Consolidated	Financial	Statements,	which	is	incorporated	by	reference	into	this	MD&A,	describes	the	significant	

accounting	policies	we	used	in	our	Consolidated	Financial	Statements.

accounting	policies	we	used	in	our	Consolidated	Financial	Statements.

An	accounting	estimate	requires	assumptions	and	judgments	about	uncertain	matters	that	could	have	a	material	

An	accounting	estimate	requires	assumptions	and	judgments	about	uncertain	matters	that	could	have	a	material	

effect	on	the	Consolidated	Financial	Statements.		Estimates	are	made	under	facts	and	circumstances	at	a	point	in	

effect	on	the	Consolidated	Financial	Statements.		Estimates	are	made	under	facts	and	circumstances	at	a	point	in	

time,	and	changes	in	those	facts	and	circumstances	could	produce	results	substantially	different	from	those	

time,	and	changes	in	those	facts	and	circumstances	could	produce	results	substantially	different	from	those	

estimates.		Our	most	significant	accounting	policies	and	estimates	and	their	related	application	are	discussed	below.

estimates.		Our	most	significant	accounting	policies	and	estimates	and	their	related	application	are	discussed	below.

Allowance	for	Credit	Losses

Allowance	for	Credit	Losses

Our	ACL	at	December	31,	2020	represents	our	current	estimate	of	the	lifetime	credit	losses	expected	from	our	

Our	ACL	at	December	31,	2020	represents	our	current	estimate	of	the	lifetime	credit	losses	expected	from	our	

loan	and	lease	portfolio	and	our	unfunded	loan	commitments	and	letters	of	credit.		Management	estimates	the	

loan	and	lease	portfolio	and	our	unfunded	loan	commitments	and	letters	of	credit.		Management	estimates	the	

allowance	for	credit	losses	by	projecting	probability	of	default,	loss	given	default	and	exposure	at	default	conditional	

allowance	for	credit	losses	by	projecting	probability	of	default,	loss	given	default	and	exposure	at	default	conditional	

on	economic	parameters,	for	the	remaining	contractual	term.		Internal	factors	that	impact	the	quarterly	allowance	

on	economic	parameters,	for	the	remaining	contractual	term.		Internal	factors	that	impact	the	quarterly	allowance	

estimate	include	the	level	of	outstanding	balances,	the	portfolio	performance	and	assigned	risk	ratings.		

estimate	include	the	level	of	outstanding	balances,	the	portfolio	performance	and	assigned	risk	ratings.		

One	of	the	most	significant	judgments	influencing	the	allowance	for	credit	losses	estimate	is	the	macro-

One	of	the	most	significant	judgments	influencing	the	allowance	for	credit	losses	estimate	is	the	macro-

economic	forecasts.		Key	external	economic	parameters	that	directly	impact	our	loss	modeling	framework	include	

economic	forecasts.		Key	external	economic	parameters	that	directly	impact	our	loss	modeling	framework	include	

forecasted	footprint	unemployment	rates	and	Gross	Domestic	Product.		Changes	in	the	economic	forecasts	could	

forecasted	footprint	unemployment	rates	and	Gross	Domestic	Product.		Changes	in	the	economic	forecasts	could	

significantly	affect	the	estimated	credit	losses	which	could	potentially	lead	to	materially	different	allowance	levels	

significantly	affect	the	estimated	credit	losses	which	could	potentially	lead	to	materially	different	allowance	levels	

from	one	reporting	period	to	the	next.

from	one	reporting	period	to	the	next.

Given	the	dynamic	relationship	between	macro-economic	variables	within	our	modeling	framework,	it	is	difficult	

Given	the	dynamic	relationship	between	macro-economic	variables	within	our	modeling	framework,	it	is	difficult	

to	estimate	the	impact	of	a	change	in	any	one	individual	variable	on	the	allowance.		As	a	result,	management	uses	a	

to	estimate	the	impact	of	a	change	in	any	one	individual	variable	on	the	allowance.		As	a	result,	management	uses	a	

probability-weighted	approach	that	incorporates	a	baseline,	an	adverse	and	a	more	favorable	economic	scenario	

probability-weighted	approach	that	incorporates	a	baseline,	an	adverse	and	a	more	favorable	economic	scenario	

when	formulating	the	quantitative	estimate	this	quarter.

when	formulating	the	quantitative	estimate	this	quarter.

However,	to	illustrate	a	hypothetical	sensitivity	analysis,	management	calculated	a	quantitative	allowance	using	

However,	to	illustrate	a	hypothetical	sensitivity	analysis,	management	calculated	a	quantitative	allowance	using	

a	100%	weighting	applied	to	an	adverse	scenario.		This	scenario	includes	assumptions	around	new	infections	and	

a	100%	weighting	applied	to	an	adverse	scenario.		This	scenario	includes	assumptions	around	new	infections	and	

COVID-19	deaths	being	significantly	above	the	baseline	projections,	leading	to	a	much	slower	re-opening	of	the	

COVID-19	deaths	being	significantly	above	the	baseline	projections,	leading	to	a	much	slower	re-opening	of	the	

economy.		Under	this	scenario,	as	an	example,	the	unemployment	rate	remains	elevated	for	a	prolonged	period	and	

economy.		Under	this	scenario,	as	an	example,	the	unemployment	rate	remains	elevated	for	a	prolonged	period	and	

is	estimated	to	remain	at	10.2%	and	8.7%	at	the	end	of	2021	and	2022,	respectively.		These	numbers	represent	

is	estimated	to	remain	at	10.2%	and	8.7%	at	the	end	of	2021	and	2022,	respectively.		These	numbers	represent	

approximately	3%	higher	unemployment	estimates	than	baseline	scenario	projections	of	7.2%	and	5.6%,	respectively	

approximately	3%	higher	unemployment	estimates	than	baseline	scenario	projections	of	7.2%	and	5.6%,	respectively	

for	the	same	time	periods.

for	the	same	time	periods.

To	demonstrate	the	sensitivity	to	key	economic	parameters,	management	calculated	the	difference	between		a	

To	demonstrate	the	sensitivity	to	key	economic	parameters,	management	calculated	the	difference	between		a	

100%	baseline	weighting	and	a	100%	adverse	scenario	weighting	for	modeled	results.		This	would	result	in	an	

100%	baseline	weighting	and	a	100%	adverse	scenario	weighting	for	modeled	results.		This	would	result	in	an	

incremental	quantitative	allowance	impact	of	approximately	$700	million.

incremental	quantitative	allowance	impact	of	approximately	$700	million.

The	resulting	difference	is	not	intended	to	represent	an	expected	increase	in	allowance	levels	for	a	number	of	

The	resulting	difference	is	not	intended	to	represent	an	expected	increase	in	allowance	levels	for	a	number	of	

reasons	including	the	following:

reasons	including	the	following:

• Management	uses	a	weighted	approach	applied	to	multiple	economic	scenarios	for	its	allowance	estimation	

• Management	uses	a	weighted	approach	applied	to	multiple	economic	scenarios	for	its	allowance	estimation	

process;

process;

The	highly	uncertain	economic	environment;	

The	highly	uncertain	economic	environment;	

economic	scenarios;	and

economic	scenarios;	and

•

•

•

•

•

•

The	difficulty	in	predicting	the	inter-relationships	between	the	economic	parameters	used	in	the	various	

The	difficulty	in	predicting	the	inter-relationships	between	the	economic	parameters	used	in	the	various	

The	sensitivity	estimate	does	not	account	for	any	general	reserve	components	and	associated	risk	profile	

The	sensitivity	estimate	does	not	account	for	any	general	reserve	components	and	associated	risk	profile	

adjustments	incorporated	by	management	as	part	of	its	overall	allowance	framework.

adjustments	incorporated	by	management	as	part	of	its	overall	allowance	framework.

We	regularly	review	our	ACL	for	appropriateness	by	performing	on-going	evaluations	of	the	loan	and	lease	

We	regularly	review	our	ACL	for	appropriateness	by	performing	on-going	evaluations	of	the	loan	and	lease	

portfolio.		In	doing	so,	we	consider	factors	such	as	the	differing	economic	risks	associated	with	each	loan	category,	

portfolio.		In	doing	so,	we	consider	factors	such	as	the	differing	economic	risks	associated	with	each	loan	category,	

the	financial	condition	of	specific	borrowers,	the	level	of	delinquent	loans,	the	value	of	any	collateral	and,	where	

the	financial	condition	of	specific	borrowers,	the	level	of	delinquent	loans,	the	value	of	any	collateral	and,	where	

applicable,	the	existence	of	any	guarantees	or	other	documented	support.		We	also	evaluate	the	impact	of	changes	

applicable,	the	existence	of	any	guarantees	or	other	documented	support.		We	also	evaluate	the	impact	of	changes	

in	key	economic	parameters	and	overall	economic	conditions	on	the	ability	of	borrowers	to	meet	their	financial	

in	key	economic	parameters	and	overall	economic	conditions	on	the	ability	of	borrowers	to	meet	their	financial	

98					Huntington	Bancshares	Incorporated
98					Huntington	Bancshares	Incorporated

2020	Form	10-K					99

2020	Form	10-K					99

companies	or	as	a	result	of	the	strength	of	the	economy	and	competitive	factors	in	the	areas	where	Huntington	and	

companies	or	as	a	result	of	the	strength	of	the	economy	and	competitive	factors	in	the	areas	where	Huntington	and	

Critical	Accounting	Policies	and	Use	of	Significant	Estimates	
Critical	Accounting	Policies	and	Use	of	Significant	Estimates	

TCF	do	business;	the	possibility	that	the	transaction	may	be	more	expensive	to	complete	than	anticipated,	including	

TCF	do	business;	the	possibility	that	the	transaction	may	be	more	expensive	to	complete	than	anticipated,	including	

as	a	result	of	unexpected	factors	or	events;	diversion	of	management’s	attention	from	ongoing	business	operations	

as	a	result	of	unexpected	factors	or	events;	diversion	of	management’s	attention	from	ongoing	business	operations	

and	opportunities;	potential	adverse	reactions	or	changes	to	business	or	employee	relationships,	including	those	

and	opportunities;	potential	adverse	reactions	or	changes	to	business	or	employee	relationships,	including	those	

resulting	from	the	announcement	or	completion	of	the	transaction;	the	ability	to	complete	the	transaction	and	

resulting	from	the	announcement	or	completion	of	the	transaction;	the	ability	to	complete	the	transaction	and	

integration	of	Huntington	and	TCF	successfully;	the	dilution	caused	by	Huntington’s	issuance	of	additional	shares	of	

integration	of	Huntington	and	TCF	successfully;	the	dilution	caused	by	Huntington’s	issuance	of	additional	shares	of	

its	capital	stock	in	connection	with	the	transaction;	and	other	factors	that	may	affect	the	future	results	of	

its	capital	stock	in	connection	with	the	transaction;	and	other	factors	that	may	affect	the	future	results	of	

Huntington	and	TCF.

Huntington	and	TCF.

All	forward-looking	statements	speak	only	as	of	the	date	they	are	made	and	are	based	on	information	available	

All	forward-looking	statements	speak	only	as	of	the	date	they	are	made	and	are	based	on	information	available	

at	that	time.		Neither	Huntington	nor	TCF	assumes	any	obligation	to	update	forward-looking	statements	to	reflect	

at	that	time.		Neither	Huntington	nor	TCF	assumes	any	obligation	to	update	forward-looking	statements	to	reflect	

circumstances	or	events	that	occur	after	the	date	the	forward-looking	statements	were	made	or	to	reflect	the	

circumstances	or	events	that	occur	after	the	date	the	forward-looking	statements	were	made	or	to	reflect	the	

occurrence	of	unanticipated	events	except	as	required	by	federal	securities	laws.		As	forward-looking	statements	

occurrence	of	unanticipated	events	except	as	required	by	federal	securities	laws.		As	forward-looking	statements	

involve	significant	risks	and	uncertainties,	caution	should	be	exercised	against	placing	undue	reliance	on	such	

involve	significant	risks	and	uncertainties,	caution	should	be	exercised	against	placing	undue	reliance	on	such	

statements.		

statements.		

Non-GAAP	Financial	Measures

Non-GAAP	Financial	Measures

financial	measure,	can	be	found	herein.	

financial	measure,	can	be	found	herein.	

Fully-Taxable	Equivalent	Basis

Fully-Taxable	Equivalent	Basis

This	document	contains	GAAP	financial	measures	and	non-GAAP	financial	measures	where	management	

This	document	contains	GAAP	financial	measures	and	non-GAAP	financial	measures	where	management	

believes	it	to	be	helpful	in	understanding	our	results	of	operations	or	financial	position.		Where	non-GAAP	financial	

believes	it	to	be	helpful	in	understanding	our	results	of	operations	or	financial	position.		Where	non-GAAP	financial	

measures	are	used,	the	comparable	GAAP	financial	measure,	as	well	as	the	reconciliation	to	the	comparable	GAAP	

measures	are	used,	the	comparable	GAAP	financial	measure,	as	well	as	the	reconciliation	to	the	comparable	GAAP	

Interest	income,	yields,	and	ratios	on	a	FTE	basis	are	considered	non-GAAP	financial	measures.		Management	

Interest	income,	yields,	and	ratios	on	a	FTE	basis	are	considered	non-GAAP	financial	measures.		Management	

believes	net	interest	income	on	a	FTE	basis	provides	an	insightful	picture	of	the	interest	margin	for	comparison	

believes	net	interest	income	on	a	FTE	basis	provides	an	insightful	picture	of	the	interest	margin	for	comparison	

purposes.		The	FTE	basis	also	allows	management	to	assess	the	comparability	of	revenue	arising	from	both	taxable	

purposes.		The	FTE	basis	also	allows	management	to	assess	the	comparability	of	revenue	arising	from	both	taxable	

and	tax-exempt	sources.		The	FTE	basis	assumes	a	federal	statutory	tax	rate	of	21	percent.		We	encourage	readers	to	

and	tax-exempt	sources.		The	FTE	basis	assumes	a	federal	statutory	tax	rate	of	21	percent.		We	encourage	readers	to	

consider	the	Consolidated	Financial	Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	

consider	the	Consolidated	Financial	Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	

entirety,	and	not	to	rely	on	any	single	financial	measure.

entirety,	and	not	to	rely	on	any	single	financial	measure.

Non-Regulatory	Capital	Ratios

Non-Regulatory	Capital	Ratios

In	addition	to	capital	ratios	defined	by	banking	regulators,	the	Company	considers	various	other	measures	when	

In	addition	to	capital	ratios	defined	by	banking	regulators,	the	Company	considers	various	other	measures	when	

evaluating	capital	utilization	and	adequacy,	including:

evaluating	capital	utilization	and	adequacy,	including:

Tangible	common	equity	to	tangible	assets,

Tangible	common	equity	to	tangible	assets,

Tangible	equity	to	tangible	assets,	and

Tangible	equity	to	tangible	assets,	and

•

•

•

•

•

•

Tangible	common	equity	to	risk-weighted	assets	using	Basel	III	definitions.

Tangible	common	equity	to	risk-weighted	assets	using	Basel	III	definitions.

These	non-regulatory	capital	ratios	are	viewed	by	management	as	useful	additional	methods	of	reflecting	the	

These	non-regulatory	capital	ratios	are	viewed	by	management	as	useful	additional	methods	of	reflecting	the	

level	of	capital	available	to	withstand	unexpected	market	conditions.		Additionally,	presentation	of	these	ratios	

level	of	capital	available	to	withstand	unexpected	market	conditions.		Additionally,	presentation	of	these	ratios	

allows	readers	to	compare	our	capitalization	to	other	financial	services	companies.		These	ratios	differ	from	capital	

allows	readers	to	compare	our	capitalization	to	other	financial	services	companies.		These	ratios	differ	from	capital	

ratios	defined	by	banking	regulators	principally	in	that	the	numerator	excludes	goodwill	and	other	intangible	assets,	

ratios	defined	by	banking	regulators	principally	in	that	the	numerator	excludes	goodwill	and	other	intangible	assets,	

the	nature	and	extent	of	which	varies	among	different	financial	services	companies.		These	ratios	are	not	defined	in	

the	nature	and	extent	of	which	varies	among	different	financial	services	companies.		These	ratios	are	not	defined	in	

GAAP	or	federal	banking	regulations.		As	a	result,	these	non-regulatory	capital	ratios	disclosed	by	the	Company	are	

GAAP	or	federal	banking	regulations.		As	a	result,	these	non-regulatory	capital	ratios	disclosed	by	the	Company	are	

considered	non-GAAP	financial	measures.

considered	non-GAAP	financial	measures.

Because	there	are	no	standardized	definitions	for	these	non-regulatory	capital	ratios,	the	Company’s	calculation	

Because	there	are	no	standardized	definitions	for	these	non-regulatory	capital	ratios,	the	Company’s	calculation	

methods	may	differ	from	those	used	by	other	financial	services	companies.		Also,	there	may	be	limits	in	the	

methods	may	differ	from	those	used	by	other	financial	services	companies.		Also,	there	may	be	limits	in	the	

usefulness	of	these	measures	to	investors.		As	a	result,	we	encourage	readers	to	consider	the	Consolidated	Financial	

usefulness	of	these	measures	to	investors.		As	a	result,	we	encourage	readers	to	consider	the	Consolidated	Financial	

Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	entirety,	and	not	to	rely	on	any	

Statements	and	other	financial	information	contained	in	this	Form	10-K	in	their	entirety,	and	not	to	rely	on	any	

single	financial	measure.

single	financial	measure.

Risk	Factors

Risk	Factors

More	information	on	risk	is	discussed	in	the	Risk	Factors	section	included	in	Item	1A:	“Risk	Factors”	of	this	

More	information	on	risk	is	discussed	in	the	Risk	Factors	section	included	in	Item	1A:	“Risk	Factors”	of	this	

report.		Additional	information	regarding	risk	factors	can	also	be	found	in	the	Risk	Management	and	Capital	

report.		Additional	information	regarding	risk	factors	can	also	be	found	in	the	Risk	Management	and	Capital	

discussion	of	this	report,	as	well	as	the	“Regulatory	Matters”	section	included	in	Item	1	:	Business	of	this	report.

discussion	of	this	report,	as	well	as	the	“Regulatory	Matters”	section	included	in	Item	1	:	Business	of	this	report.

Our	Consolidated	Financial	Statements	are	prepared	in	accordance	with	GAAP.		The	preparation	of	financial	
Our	Consolidated	Financial	Statements	are	prepared	in	accordance	with	GAAP.		The	preparation	of	financial	
statements	in	conformity	with	GAAP	requires	us	to	establish	accounting	policies	and	make	estimates	that	affect	
statements	in	conformity	with	GAAP	requires	us	to	establish	accounting	policies	and	make	estimates	that	affect	
amounts	reported	in	our	Consolidated	Financial	Statements.		Note	1	-	“Significant	Accounting	Policies”	of	the	Notes	
amounts	reported	in	our	Consolidated	Financial	Statements.		Note	1	-	“Significant	Accounting	Policies”	of	the	Notes	
to	Consolidated	Financial	Statements,	which	is	incorporated	by	reference	into	this	MD&A,	describes	the	significant	
to	Consolidated	Financial	Statements,	which	is	incorporated	by	reference	into	this	MD&A,	describes	the	significant	
accounting	policies	we	used	in	our	Consolidated	Financial	Statements.
accounting	policies	we	used	in	our	Consolidated	Financial	Statements.

An	accounting	estimate	requires	assumptions	and	judgments	about	uncertain	matters	that	could	have	a	material	
An	accounting	estimate	requires	assumptions	and	judgments	about	uncertain	matters	that	could	have	a	material	

effect	on	the	Consolidated	Financial	Statements.		Estimates	are	made	under	facts	and	circumstances	at	a	point	in	
effect	on	the	Consolidated	Financial	Statements.		Estimates	are	made	under	facts	and	circumstances	at	a	point	in	
time,	and	changes	in	those	facts	and	circumstances	could	produce	results	substantially	different	from	those	
time,	and	changes	in	those	facts	and	circumstances	could	produce	results	substantially	different	from	those	
estimates.		Our	most	significant	accounting	policies	and	estimates	and	their	related	application	are	discussed	below.
estimates.		Our	most	significant	accounting	policies	and	estimates	and	their	related	application	are	discussed	below.

Allowance	for	Credit	Losses
Allowance	for	Credit	Losses

Our	ACL	at	December	31,	2020	represents	our	current	estimate	of	the	lifetime	credit	losses	expected	from	our	
Our	ACL	at	December	31,	2020	represents	our	current	estimate	of	the	lifetime	credit	losses	expected	from	our	

loan	and	lease	portfolio	and	our	unfunded	loan	commitments	and	letters	of	credit.		Management	estimates	the	
loan	and	lease	portfolio	and	our	unfunded	loan	commitments	and	letters	of	credit.		Management	estimates	the	
allowance	for	credit	losses	by	projecting	probability	of	default,	loss	given	default	and	exposure	at	default	conditional	
allowance	for	credit	losses	by	projecting	probability	of	default,	loss	given	default	and	exposure	at	default	conditional	
on	economic	parameters,	for	the	remaining	contractual	term.		Internal	factors	that	impact	the	quarterly	allowance	
on	economic	parameters,	for	the	remaining	contractual	term.		Internal	factors	that	impact	the	quarterly	allowance	
estimate	include	the	level	of	outstanding	balances,	the	portfolio	performance	and	assigned	risk	ratings.		
estimate	include	the	level	of	outstanding	balances,	the	portfolio	performance	and	assigned	risk	ratings.		

One	of	the	most	significant	judgments	influencing	the	allowance	for	credit	losses	estimate	is	the	macro-
One	of	the	most	significant	judgments	influencing	the	allowance	for	credit	losses	estimate	is	the	macro-

economic	forecasts.		Key	external	economic	parameters	that	directly	impact	our	loss	modeling	framework	include	
economic	forecasts.		Key	external	economic	parameters	that	directly	impact	our	loss	modeling	framework	include	
forecasted	footprint	unemployment	rates	and	Gross	Domestic	Product.		Changes	in	the	economic	forecasts	could	
forecasted	footprint	unemployment	rates	and	Gross	Domestic	Product.		Changes	in	the	economic	forecasts	could	
significantly	affect	the	estimated	credit	losses	which	could	potentially	lead	to	materially	different	allowance	levels	
significantly	affect	the	estimated	credit	losses	which	could	potentially	lead	to	materially	different	allowance	levels	
from	one	reporting	period	to	the	next.
from	one	reporting	period	to	the	next.

Given	the	dynamic	relationship	between	macro-economic	variables	within	our	modeling	framework,	it	is	difficult	
Given	the	dynamic	relationship	between	macro-economic	variables	within	our	modeling	framework,	it	is	difficult	
to	estimate	the	impact	of	a	change	in	any	one	individual	variable	on	the	allowance.		As	a	result,	management	uses	a	
to	estimate	the	impact	of	a	change	in	any	one	individual	variable	on	the	allowance.		As	a	result,	management	uses	a	
probability-weighted	approach	that	incorporates	a	baseline,	an	adverse	and	a	more	favorable	economic	scenario	
probability-weighted	approach	that	incorporates	a	baseline,	an	adverse	and	a	more	favorable	economic	scenario	
when	formulating	the	quantitative	estimate	this	quarter.
when	formulating	the	quantitative	estimate	this	quarter.

However,	to	illustrate	a	hypothetical	sensitivity	analysis,	management	calculated	a	quantitative	allowance	using	
However,	to	illustrate	a	hypothetical	sensitivity	analysis,	management	calculated	a	quantitative	allowance	using	

a	100%	weighting	applied	to	an	adverse	scenario.		This	scenario	includes	assumptions	around	new	infections	and	
a	100%	weighting	applied	to	an	adverse	scenario.		This	scenario	includes	assumptions	around	new	infections	and	
COVID-19	deaths	being	significantly	above	the	baseline	projections,	leading	to	a	much	slower	re-opening	of	the	
COVID-19	deaths	being	significantly	above	the	baseline	projections,	leading	to	a	much	slower	re-opening	of	the	
economy.		Under	this	scenario,	as	an	example,	the	unemployment	rate	remains	elevated	for	a	prolonged	period	and	
economy.		Under	this	scenario,	as	an	example,	the	unemployment	rate	remains	elevated	for	a	prolonged	period	and	
is	estimated	to	remain	at	10.2%	and	8.7%	at	the	end	of	2021	and	2022,	respectively.		These	numbers	represent	
is	estimated	to	remain	at	10.2%	and	8.7%	at	the	end	of	2021	and	2022,	respectively.		These	numbers	represent	
approximately	3%	higher	unemployment	estimates	than	baseline	scenario	projections	of	7.2%	and	5.6%,	respectively	
approximately	3%	higher	unemployment	estimates	than	baseline	scenario	projections	of	7.2%	and	5.6%,	respectively	
for	the	same	time	periods.
for	the	same	time	periods.

To	demonstrate	the	sensitivity	to	key	economic	parameters,	management	calculated	the	difference	between		a	
To	demonstrate	the	sensitivity	to	key	economic	parameters,	management	calculated	the	difference	between		a	

100%	baseline	weighting	and	a	100%	adverse	scenario	weighting	for	modeled	results.		This	would	result	in	an	
100%	baseline	weighting	and	a	100%	adverse	scenario	weighting	for	modeled	results.		This	would	result	in	an	
incremental	quantitative	allowance	impact	of	approximately	$700	million.
incremental	quantitative	allowance	impact	of	approximately	$700	million.

The	resulting	difference	is	not	intended	to	represent	an	expected	increase	in	allowance	levels	for	a	number	of	
The	resulting	difference	is	not	intended	to	represent	an	expected	increase	in	allowance	levels	for	a	number	of	

reasons	including	the	following:
reasons	including	the	following:

• Management	uses	a	weighted	approach	applied	to	multiple	economic	scenarios	for	its	allowance	estimation	
• Management	uses	a	weighted	approach	applied	to	multiple	economic	scenarios	for	its	allowance	estimation	

•
•
•
•

•
•

process;
process;
The	highly	uncertain	economic	environment;	
The	highly	uncertain	economic	environment;	
The	difficulty	in	predicting	the	inter-relationships	between	the	economic	parameters	used	in	the	various	
The	difficulty	in	predicting	the	inter-relationships	between	the	economic	parameters	used	in	the	various	
economic	scenarios;	and
economic	scenarios;	and
The	sensitivity	estimate	does	not	account	for	any	general	reserve	components	and	associated	risk	profile	
The	sensitivity	estimate	does	not	account	for	any	general	reserve	components	and	associated	risk	profile	
adjustments	incorporated	by	management	as	part	of	its	overall	allowance	framework.
adjustments	incorporated	by	management	as	part	of	its	overall	allowance	framework.

We	regularly	review	our	ACL	for	appropriateness	by	performing	on-going	evaluations	of	the	loan	and	lease	
We	regularly	review	our	ACL	for	appropriateness	by	performing	on-going	evaluations	of	the	loan	and	lease	
portfolio.		In	doing	so,	we	consider	factors	such	as	the	differing	economic	risks	associated	with	each	loan	category,	
portfolio.		In	doing	so,	we	consider	factors	such	as	the	differing	economic	risks	associated	with	each	loan	category,	
the	financial	condition	of	specific	borrowers,	the	level	of	delinquent	loans,	the	value	of	any	collateral	and,	where	
the	financial	condition	of	specific	borrowers,	the	level	of	delinquent	loans,	the	value	of	any	collateral	and,	where	
applicable,	the	existence	of	any	guarantees	or	other	documented	support.		We	also	evaluate	the	impact	of	changes	
applicable,	the	existence	of	any	guarantees	or	other	documented	support.		We	also	evaluate	the	impact	of	changes	
in	key	economic	parameters	and	overall	economic	conditions	on	the	ability	of	borrowers	to	meet	their	financial	
in	key	economic	parameters	and	overall	economic	conditions	on	the	ability	of	borrowers	to	meet	their	financial	

98					Huntington	Bancshares	Incorporated

98					Huntington	Bancshares	Incorporated

2020	Form	10-K					99
2020	Form	10-K					99

not	affect	Huntington’s	regulatory	capital	ratios,	tangible	common	equity	ratio	or	liquidity	position.		For	more	

not	affect	Huntington’s	regulatory	capital	ratios,	tangible	common	equity	ratio	or	liquidity	position.		For	more	

information,	see	Note	8		-	“Goodwill	and	Other	Intangible	Assets”	of	the	Notes	to	Consolidated	Financial	Statements.

information,	see	Note	8		-	“Goodwill	and	Other	Intangible	Assets”	of	the	Notes	to	Consolidated	Financial	Statements.

Recent	Accounting	Pronouncements	and	Developments

Recent	Accounting	Pronouncements	and	Developments

Note	2	-	“Accounting	Standards	Update”	of	the	Notes	to	Consolidated	Financial	Statements	discusses	new	

Note	2	-	“Accounting	Standards	Update”	of	the	Notes	to	Consolidated	Financial	Statements	discusses	new	

accounting	pronouncements	adopted	during	2020	and	the	expected	impact	of	accounting	pronouncements	recently	

accounting	pronouncements	adopted	during	2020	and	the	expected	impact	of	accounting	pronouncements	recently	

issued	but	not	yet	required	to	be	adopted.		To	the	extent	the	adoption	of	new	accounting	standards	materially	affect	

issued	but	not	yet	required	to	be	adopted.		To	the	extent	the	adoption	of	new	accounting	standards	materially	affect	

financial	condition,	results	of	operations,	or	liquidity,	the	impacts	are	discussed	in	the	applicable	section	of	this	

financial	condition,	results	of	operations,	or	liquidity,	the	impacts	are	discussed	in	the	applicable	section	of	this	

MD&A	and	the	Notes	to	Consolidated	Financial	Statements.

MD&A	and	the	Notes	to	Consolidated	Financial	Statements.

Item	7A:	Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Item	7A:	Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Information	required	by	this	item	is	set	forth	under	the	heading	of	“Market	Risk”	in	Item	7:	MD&A,	which	is	

Information	required	by	this	item	is	set	forth	under	the	heading	of	“Market	Risk”	in	Item	7:	MD&A,	which	is	

incorporated	by	reference	into	this	item.

incorporated	by	reference	into	this	item.

Item	8:	Financial	Statements	and	Supplementary	Data

Item	8:	Financial	Statements	and	Supplementary	Data

Information	required	by	this	item	is	set	forth	in	the	Reports	of	Independent	Registered	Public	Accounting	Firm,	

Information	required	by	this	item	is	set	forth	in	the	Reports	of	Independent	Registered	Public	Accounting	Firm,	

Consolidated	Financial	Statements	and	Notes	to	Consolidated	Financial	Statements,	and	Selected	Quarterly	Income	

Consolidated	Financial	Statements	and	Notes	to	Consolidated	Financial	Statements,	and	Selected	Quarterly	Income	

Statements,	which	is	incorporated	by	reference	into	this	item.

Statements,	which	is	incorporated	by	reference	into	this	item.

obligations	when	quantifying	our	exposure	to	credit	losses	and	assessing	the	appropriateness	of	our	ACL	at	each	
obligations	when	quantifying	our	exposure	to	credit	losses	and	assessing	the	appropriateness	of	our	ACL	at	each	
reporting	date.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	losses	in	our	portfolio	as	
reporting	date.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	losses	in	our	portfolio	as	
economic	and	market	conditions	may	ultimately	differ	from	our	reasonable	and	supportable	forecast.		Additionally,	
economic	and	market	conditions	may	ultimately	differ	from	our	reasonable	and	supportable	forecast.		Additionally,	
events	adversely	affecting	specific	customers,	industries,	or	our	markets,	such	as	the	current	COVID-19	pandemic,	
events	adversely	affecting	specific	customers,	industries,	or	our	markets,	such	as	the	current	COVID-19	pandemic,	
could	severely	impact	our	current	expectations.		If	the	credit	quality	of	our	customer	base	materially	deteriorates	or	
could	severely	impact	our	current	expectations.		If	the	credit	quality	of	our	customer	base	materially	deteriorates	or	
the	risk	profile	of	a	market,	industry,	or	group	of	customers	changes	materially,	our	net	income	and	capital	could	be	
the	risk	profile	of	a	market,	industry,	or	group	of	customers	changes	materially,	our	net	income	and	capital	could	be	
materially	adversely	affected	which,	in	turn,	could	have	a	material	adverse	effect	on	our	financial	condition	and	
materially	adversely	affected	which,	in	turn,	could	have	a	material	adverse	effect	on	our	financial	condition	and	
results	of	operations.		The	extent	to	which	the	current	COVID-19	pandemic	has	and	will	continue	to	negatively	
results	of	operations.		The	extent	to	which	the	current	COVID-19	pandemic	has	and	will	continue	to	negatively	
impact	our	businesses,	financial	condition,	liquidity	and	results	will	depend	on	future	developments,	which	are	
impact	our	businesses,	financial	condition,	liquidity	and	results	will	depend	on	future	developments,	which	are	
highly	uncertain	and	cannot	be	forecasted	with	precision	at	this	time.		For	more	information,	see	Note	5	-	”Loans	/	
highly	uncertain	and	cannot	be	forecasted	with	precision	at	this	time.		For	more	information,	see	Note	5	-	”Loans	/	
Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.
Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.

Fair	Value	Measurement
Fair	Value	Measurement

Certain	assets	and	liabilities	are	measured	at	fair	value	on	a	recurring	basis,	including	securities	and	derivative	
Certain	assets	and	liabilities	are	measured	at	fair	value	on	a	recurring	basis,	including	securities	and	derivative	

instruments.		Assets	and	liabilities	carried	at	fair	value	inherently	include	subjectivity	and	may	require	the	use	of	
instruments.		Assets	and	liabilities	carried	at	fair	value	inherently	include	subjectivity	and	may	require	the	use	of	
significant	assumptions,	adjustments	and	judgment	including,	among	others,	discount	rates,	rates	of	return	on	
significant	assumptions,	adjustments	and	judgment	including,	among	others,	discount	rates,	rates	of	return	on	
assets,	cash	flows,	default	rates,	loss	rates,	terminal	values	and	liquidation	values.		A	significant	change	in	
assets,	cash	flows,	default	rates,	loss	rates,	terminal	values	and	liquidation	values.		A	significant	change	in	
assumptions	may	result	in	a	significant	change	in	fair	value,	which	in	turn,	may	result	in	a	higher	degree	of	financial	
assumptions	may	result	in	a	significant	change	in	fair	value,	which	in	turn,	may	result	in	a	higher	degree	of	financial	
statement	volatility	and	could	result	in	significant	impact	on	our	results	of	operations,	financial	condition	or	
statement	volatility	and	could	result	in	significant	impact	on	our	results	of	operations,	financial	condition	or	
disclosures	of	fair	value	information.
disclosures	of	fair	value	information.

The	fair	value	hierarchy	requires	use	of	observable	inputs	first	and	subsequently	unobservable	inputs	when	
The	fair	value	hierarchy	requires	use	of	observable	inputs	first	and	subsequently	unobservable	inputs	when	
observable	inputs	are	not	available.		Our	fair	value	measurements	involve	various	valuation	techniques	and	models,	
observable	inputs	are	not	available.		Our	fair	value	measurements	involve	various	valuation	techniques	and	models,	
which	involve	inputs	that	are	observable	(Level	1	or	Level	2	in	fair	value	hierarchy),	when	available.		The	level	of	
which	involve	inputs	that	are	observable	(Level	1	or	Level	2	in	fair	value	hierarchy),	when	available.		The	level	of	
judgment	required	to	determine	fair	value	is	dependent	on	the	methods	or	techniques	used	in	the	process.		Assets	
judgment	required	to	determine	fair	value	is	dependent	on	the	methods	or	techniques	used	in	the	process.		Assets	
and	liabilities	that	are	measured	at	fair	value	using	quoted	prices	in	active	markets	(Level	1)	do	not	require	
and	liabilities	that	are	measured	at	fair	value	using	quoted	prices	in	active	markets	(Level	1)	do	not	require	
significant	judgment	while	the	valuation	of	assets	and	liabilities	when	quoted	market	prices	are	not	available	(Levels	
significant	judgment	while	the	valuation	of	assets	and	liabilities	when	quoted	market	prices	are	not	available	(Levels	
2	and	3)	may	require	significant	judgment	to	assess	whether	observable	or	unobservable	inputs	for	those	assets	and	
2	and	3)	may	require	significant	judgment	to	assess	whether	observable	or	unobservable	inputs	for	those	assets	and	
liabilities	provide	reasonable	determination	of	fair	value.		The	fair	values	measured	at	each	level	of	the	fair	value	
liabilities	provide	reasonable	determination	of	fair	value.		The	fair	values	measured	at	each	level	of	the	fair	value	
hierarchy,	additional	discussion	regarding	fair	value	measurements,	and	a	brief	description	of	how	fair	value	is	
hierarchy,	additional	discussion	regarding	fair	value	measurements,	and	a	brief	description	of	how	fair	value	is	
determined	for	categories	that	have	unobservable	inputs,	can	be	found	in	Note	20	-	“Fair	Value	of	Assets	and	
determined	for	categories	that	have	unobservable	inputs,	can	be	found	in	Note	20	-	“Fair	Value	of	Assets	and	
Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements.
Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements.

Goodwill	and	Intangible	Assets
Goodwill	and	Intangible	Assets

The	acquisition	method	of	accounting	requires	that	acquired	assets	and	liabilities	are	recorded	at	their	fair	
The	acquisition	method	of	accounting	requires	that	acquired	assets	and	liabilities	are	recorded	at	their	fair	

values	as	of	the	date	of	acquisition.		This	often	involves	estimates	based	on	third	party	valuations	or	internal	
values	as	of	the	date	of	acquisition.		This	often	involves	estimates	based	on	third	party	valuations	or	internal	
valuations	based	on	discounted	cash	flow	analyses	or	other	valuation	techniques,	all	of	which	are	inherently	
valuations	based	on	discounted	cash	flow	analyses	or	other	valuation	techniques,	all	of	which	are	inherently	
subjective.		Acquisitions	typically	result	in	goodwill,	the	amount	by	which	the	cost	of	net	assets	acquired	in	a	
subjective.		Acquisitions	typically	result	in	goodwill,	the	amount	by	which	the	cost	of	net	assets	acquired	in	a	
business	combination	exceeds	their	fair	value,	which	is	subject	to	impairment	testing	at	least	annually.		The	
business	combination	exceeds	their	fair	value,	which	is	subject	to	impairment	testing	at	least	annually.		The	
amortization	of	identified	intangible	assets	recognized	in	a	business	combination	is	based	upon	the	estimated	
amortization	of	identified	intangible	assets	recognized	in	a	business	combination	is	based	upon	the	estimated	
economic	benefits	to	be	received	over	their	economic	life,	which	is	also	subjective.		Customer	attrition	rates	that	are	
economic	benefits	to	be	received	over	their	economic	life,	which	is	also	subjective.		Customer	attrition	rates	that	are	
based	on	historical	experience	are	used	to	determine	the	estimated	economic	life	of	certain	intangibles	assets,	
based	on	historical	experience	are	used	to	determine	the	estimated	economic	life	of	certain	intangibles	assets,	
including	but	not	limited	to,	customer	deposit	intangibles.		
including	but	not	limited	to,	customer	deposit	intangibles.		

The	emergence	of	COVID-19	as	a	global	pandemic	during	2020	has	resulted	in	significant	deterioration	of	the	
The	emergence	of	COVID-19	as	a	global	pandemic	during	2020	has	resulted	in	significant	deterioration	of	the	

economic	environment	which	has	impacted	expected	earnings.		The	heightened	uncertainty	in	the	economic	
economic	environment	which	has	impacted	expected	earnings.		The	heightened	uncertainty	in	the	economic	
environment	has	remained	throughout	2020.		As	a	result,	management	performed	an	assessment	of	the	goodwill	
environment	has	remained	throughout	2020.		As	a	result,	management	performed	an	assessment	of	the	goodwill	
balance	at	December	31,	2020.		A	qualitative	assessment	was	deemed	to	be	sufficient	and	reasonable	and	the	result	
balance	at	December	31,	2020.		A	qualitative	assessment	was	deemed	to	be	sufficient	and	reasonable	and	the	result	
of	this	assessment	indicated	it	was	probable	that	the	fair	value	of	each	of	our	reporting	units	continues	to	exceed	
of	this	assessment	indicated	it	was	probable	that	the	fair	value	of	each	of	our	reporting	units	continues	to	exceed	
the	respective	carrying	values	and	therefore	management	determined	that	a	full	goodwill	test	was	not	warranted.		
the	respective	carrying	values	and	therefore	management	determined	that	a	full	goodwill	test	was	not	warranted.		
Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	
Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	
by	management.		In	the	event	of	a	prolonged	economic	downturn	or	further	deterioration	in	the	economic	outlook,	
by	management.		In	the	event	of	a	prolonged	economic	downturn	or	further	deterioration	in	the	economic	outlook,	
continued	assessments	of	our	goodwill	balance	could	be	required	in	future	periods.		Any	impairment	charge	would	
continued	assessments	of	our	goodwill	balance	could	be	required	in	future	periods.		Any	impairment	charge	would	

100					Huntington	Bancshares	Incorporated
100					Huntington	Bancshares	Incorporated

2020	Form	10-K					101

2020	Form	10-K					101

not	affect	Huntington’s	regulatory	capital	ratios,	tangible	common	equity	ratio	or	liquidity	position.		For	more	
not	affect	Huntington’s	regulatory	capital	ratios,	tangible	common	equity	ratio	or	liquidity	position.		For	more	
information,	see	Note	8		-	“Goodwill	and	Other	Intangible	Assets”	of	the	Notes	to	Consolidated	Financial	Statements.
information,	see	Note	8		-	“Goodwill	and	Other	Intangible	Assets”	of	the	Notes	to	Consolidated	Financial	Statements.

Recent	Accounting	Pronouncements	and	Developments
Recent	Accounting	Pronouncements	and	Developments

Note	2	-	“Accounting	Standards	Update”	of	the	Notes	to	Consolidated	Financial	Statements	discusses	new	
Note	2	-	“Accounting	Standards	Update”	of	the	Notes	to	Consolidated	Financial	Statements	discusses	new	
accounting	pronouncements	adopted	during	2020	and	the	expected	impact	of	accounting	pronouncements	recently	
accounting	pronouncements	adopted	during	2020	and	the	expected	impact	of	accounting	pronouncements	recently	
issued	but	not	yet	required	to	be	adopted.		To	the	extent	the	adoption	of	new	accounting	standards	materially	affect	
issued	but	not	yet	required	to	be	adopted.		To	the	extent	the	adoption	of	new	accounting	standards	materially	affect	
financial	condition,	results	of	operations,	or	liquidity,	the	impacts	are	discussed	in	the	applicable	section	of	this	
financial	condition,	results	of	operations,	or	liquidity,	the	impacts	are	discussed	in	the	applicable	section	of	this	
MD&A	and	the	Notes	to	Consolidated	Financial	Statements.
MD&A	and	the	Notes	to	Consolidated	Financial	Statements.

Item	7A:	Quantitative	and	Qualitative	Disclosures	About	Market	Risk
Item	7A:	Quantitative	and	Qualitative	Disclosures	About	Market	Risk

Information	required	by	this	item	is	set	forth	under	the	heading	of	“Market	Risk”	in	Item	7:	MD&A,	which	is	
Information	required	by	this	item	is	set	forth	under	the	heading	of	“Market	Risk”	in	Item	7:	MD&A,	which	is	

incorporated	by	reference	into	this	item.
incorporated	by	reference	into	this	item.

Item	8:	Financial	Statements	and	Supplementary	Data
Item	8:	Financial	Statements	and	Supplementary	Data

Information	required	by	this	item	is	set	forth	in	the	Reports	of	Independent	Registered	Public	Accounting	Firm,	
Information	required	by	this	item	is	set	forth	in	the	Reports	of	Independent	Registered	Public	Accounting	Firm,	
Consolidated	Financial	Statements	and	Notes	to	Consolidated	Financial	Statements,	and	Selected	Quarterly	Income	
Consolidated	Financial	Statements	and	Notes	to	Consolidated	Financial	Statements,	and	Selected	Quarterly	Income	
Statements,	which	is	incorporated	by	reference	into	this	item.
Statements,	which	is	incorporated	by	reference	into	this	item.

obligations	when	quantifying	our	exposure	to	credit	losses	and	assessing	the	appropriateness	of	our	ACL	at	each	

obligations	when	quantifying	our	exposure	to	credit	losses	and	assessing	the	appropriateness	of	our	ACL	at	each	

reporting	date.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	losses	in	our	portfolio	as	

reporting	date.		There	is	no	certainty	that	our	ACL	will	be	appropriate	over	time	to	cover	losses	in	our	portfolio	as	

economic	and	market	conditions	may	ultimately	differ	from	our	reasonable	and	supportable	forecast.		Additionally,	

economic	and	market	conditions	may	ultimately	differ	from	our	reasonable	and	supportable	forecast.		Additionally,	

events	adversely	affecting	specific	customers,	industries,	or	our	markets,	such	as	the	current	COVID-19	pandemic,	

events	adversely	affecting	specific	customers,	industries,	or	our	markets,	such	as	the	current	COVID-19	pandemic,	

could	severely	impact	our	current	expectations.		If	the	credit	quality	of	our	customer	base	materially	deteriorates	or	

could	severely	impact	our	current	expectations.		If	the	credit	quality	of	our	customer	base	materially	deteriorates	or	

the	risk	profile	of	a	market,	industry,	or	group	of	customers	changes	materially,	our	net	income	and	capital	could	be	

the	risk	profile	of	a	market,	industry,	or	group	of	customers	changes	materially,	our	net	income	and	capital	could	be	

materially	adversely	affected	which,	in	turn,	could	have	a	material	adverse	effect	on	our	financial	condition	and	

materially	adversely	affected	which,	in	turn,	could	have	a	material	adverse	effect	on	our	financial	condition	and	

results	of	operations.		The	extent	to	which	the	current	COVID-19	pandemic	has	and	will	continue	to	negatively	

results	of	operations.		The	extent	to	which	the	current	COVID-19	pandemic	has	and	will	continue	to	negatively	

impact	our	businesses,	financial	condition,	liquidity	and	results	will	depend	on	future	developments,	which	are	

impact	our	businesses,	financial	condition,	liquidity	and	results	will	depend	on	future	developments,	which	are	

highly	uncertain	and	cannot	be	forecasted	with	precision	at	this	time.		For	more	information,	see	Note	5	-	”Loans	/	

highly	uncertain	and	cannot	be	forecasted	with	precision	at	this	time.		For	more	information,	see	Note	5	-	”Loans	/	

Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.

Leases”	and	Note	6	-	“Allowance	for	Credit	Losses”	of	the	Notes	to	Consolidated	Financial	Statements.

Fair	Value	Measurement

Fair	Value	Measurement

Certain	assets	and	liabilities	are	measured	at	fair	value	on	a	recurring	basis,	including	securities	and	derivative	

Certain	assets	and	liabilities	are	measured	at	fair	value	on	a	recurring	basis,	including	securities	and	derivative	

instruments.		Assets	and	liabilities	carried	at	fair	value	inherently	include	subjectivity	and	may	require	the	use	of	

instruments.		Assets	and	liabilities	carried	at	fair	value	inherently	include	subjectivity	and	may	require	the	use	of	

significant	assumptions,	adjustments	and	judgment	including,	among	others,	discount	rates,	rates	of	return	on	

significant	assumptions,	adjustments	and	judgment	including,	among	others,	discount	rates,	rates	of	return	on	

assets,	cash	flows,	default	rates,	loss	rates,	terminal	values	and	liquidation	values.		A	significant	change	in	

assets,	cash	flows,	default	rates,	loss	rates,	terminal	values	and	liquidation	values.		A	significant	change	in	

assumptions	may	result	in	a	significant	change	in	fair	value,	which	in	turn,	may	result	in	a	higher	degree	of	financial	

assumptions	may	result	in	a	significant	change	in	fair	value,	which	in	turn,	may	result	in	a	higher	degree	of	financial	

statement	volatility	and	could	result	in	significant	impact	on	our	results	of	operations,	financial	condition	or	

statement	volatility	and	could	result	in	significant	impact	on	our	results	of	operations,	financial	condition	or	

disclosures	of	fair	value	information.

disclosures	of	fair	value	information.

The	fair	value	hierarchy	requires	use	of	observable	inputs	first	and	subsequently	unobservable	inputs	when	

The	fair	value	hierarchy	requires	use	of	observable	inputs	first	and	subsequently	unobservable	inputs	when	

observable	inputs	are	not	available.		Our	fair	value	measurements	involve	various	valuation	techniques	and	models,	

observable	inputs	are	not	available.		Our	fair	value	measurements	involve	various	valuation	techniques	and	models,	

which	involve	inputs	that	are	observable	(Level	1	or	Level	2	in	fair	value	hierarchy),	when	available.		The	level	of	

which	involve	inputs	that	are	observable	(Level	1	or	Level	2	in	fair	value	hierarchy),	when	available.		The	level	of	

judgment	required	to	determine	fair	value	is	dependent	on	the	methods	or	techniques	used	in	the	process.		Assets	

judgment	required	to	determine	fair	value	is	dependent	on	the	methods	or	techniques	used	in	the	process.		Assets	

and	liabilities	that	are	measured	at	fair	value	using	quoted	prices	in	active	markets	(Level	1)	do	not	require	

and	liabilities	that	are	measured	at	fair	value	using	quoted	prices	in	active	markets	(Level	1)	do	not	require	

significant	judgment	while	the	valuation	of	assets	and	liabilities	when	quoted	market	prices	are	not	available	(Levels	

significant	judgment	while	the	valuation	of	assets	and	liabilities	when	quoted	market	prices	are	not	available	(Levels	

2	and	3)	may	require	significant	judgment	to	assess	whether	observable	or	unobservable	inputs	for	those	assets	and	

2	and	3)	may	require	significant	judgment	to	assess	whether	observable	or	unobservable	inputs	for	those	assets	and	

liabilities	provide	reasonable	determination	of	fair	value.		The	fair	values	measured	at	each	level	of	the	fair	value	

liabilities	provide	reasonable	determination	of	fair	value.		The	fair	values	measured	at	each	level	of	the	fair	value	

hierarchy,	additional	discussion	regarding	fair	value	measurements,	and	a	brief	description	of	how	fair	value	is	

hierarchy,	additional	discussion	regarding	fair	value	measurements,	and	a	brief	description	of	how	fair	value	is	

determined	for	categories	that	have	unobservable	inputs,	can	be	found	in	Note	20	-	“Fair	Value	of	Assets	and	

determined	for	categories	that	have	unobservable	inputs,	can	be	found	in	Note	20	-	“Fair	Value	of	Assets	and	

Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements.

Liabilities”	of	the	Notes	to	Consolidated	Financial	Statements.

Goodwill	and	Intangible	Assets

Goodwill	and	Intangible	Assets

The	acquisition	method	of	accounting	requires	that	acquired	assets	and	liabilities	are	recorded	at	their	fair	

The	acquisition	method	of	accounting	requires	that	acquired	assets	and	liabilities	are	recorded	at	their	fair	

values	as	of	the	date	of	acquisition.		This	often	involves	estimates	based	on	third	party	valuations	or	internal	

values	as	of	the	date	of	acquisition.		This	often	involves	estimates	based	on	third	party	valuations	or	internal	

valuations	based	on	discounted	cash	flow	analyses	or	other	valuation	techniques,	all	of	which	are	inherently	

valuations	based	on	discounted	cash	flow	analyses	or	other	valuation	techniques,	all	of	which	are	inherently	

subjective.		Acquisitions	typically	result	in	goodwill,	the	amount	by	which	the	cost	of	net	assets	acquired	in	a	

subjective.		Acquisitions	typically	result	in	goodwill,	the	amount	by	which	the	cost	of	net	assets	acquired	in	a	

business	combination	exceeds	their	fair	value,	which	is	subject	to	impairment	testing	at	least	annually.		The	

business	combination	exceeds	their	fair	value,	which	is	subject	to	impairment	testing	at	least	annually.		The	

amortization	of	identified	intangible	assets	recognized	in	a	business	combination	is	based	upon	the	estimated	

amortization	of	identified	intangible	assets	recognized	in	a	business	combination	is	based	upon	the	estimated	

economic	benefits	to	be	received	over	their	economic	life,	which	is	also	subjective.		Customer	attrition	rates	that	are	

economic	benefits	to	be	received	over	their	economic	life,	which	is	also	subjective.		Customer	attrition	rates	that	are	

based	on	historical	experience	are	used	to	determine	the	estimated	economic	life	of	certain	intangibles	assets,	

based	on	historical	experience	are	used	to	determine	the	estimated	economic	life	of	certain	intangibles	assets,	

including	but	not	limited	to,	customer	deposit	intangibles.		

including	but	not	limited	to,	customer	deposit	intangibles.		

The	emergence	of	COVID-19	as	a	global	pandemic	during	2020	has	resulted	in	significant	deterioration	of	the	

The	emergence	of	COVID-19	as	a	global	pandemic	during	2020	has	resulted	in	significant	deterioration	of	the	

economic	environment	which	has	impacted	expected	earnings.		The	heightened	uncertainty	in	the	economic	

economic	environment	which	has	impacted	expected	earnings.		The	heightened	uncertainty	in	the	economic	

environment	has	remained	throughout	2020.		As	a	result,	management	performed	an	assessment	of	the	goodwill	

environment	has	remained	throughout	2020.		As	a	result,	management	performed	an	assessment	of	the	goodwill	

balance	at	December	31,	2020.		A	qualitative	assessment	was	deemed	to	be	sufficient	and	reasonable	and	the	result	

balance	at	December	31,	2020.		A	qualitative	assessment	was	deemed	to	be	sufficient	and	reasonable	and	the	result	

of	this	assessment	indicated	it	was	probable	that	the	fair	value	of	each	of	our	reporting	units	continues	to	exceed	

of	this	assessment	indicated	it	was	probable	that	the	fair	value	of	each	of	our	reporting	units	continues	to	exceed	

the	respective	carrying	values	and	therefore	management	determined	that	a	full	goodwill	test	was	not	warranted.		

the	respective	carrying	values	and	therefore	management	determined	that	a	full	goodwill	test	was	not	warranted.		

Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	

Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	

by	management.		In	the	event	of	a	prolonged	economic	downturn	or	further	deterioration	in	the	economic	outlook,	

by	management.		In	the	event	of	a	prolonged	economic	downturn	or	further	deterioration	in	the	economic	outlook,	

continued	assessments	of	our	goodwill	balance	could	be	required	in	future	periods.		Any	impairment	charge	would	

continued	assessments	of	our	goodwill	balance	could	be	required	in	future	periods.		Any	impairment	charge	would	

100					Huntington	Bancshares	Incorporated

100					Huntington	Bancshares	Incorporated

2020	Form	10-K					101
2020	Form	10-K					101

REPORT	OF	MANAGEMENT’S	EVALUATION	OF	DISCLOSURE	CONTROLS	AND	PROCEDURES
REPORT	OF	MANAGEMENT’S	EVALUATION	OF	DISCLOSURE	CONTROLS	AND	PROCEDURES

Report	of	Independent	Registered	Public	Accounting	Firm	

Report	of	Independent	Registered	Public	Accounting	Firm	

The	Management	of	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	responsible	for	the	
The	Management	of	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	responsible	for	the	
financial	information	and	representations	contained	in	the	Consolidated	Financial	Statements	and	other	sections	of	
financial	information	and	representations	contained	in	the	Consolidated	Financial	Statements	and	other	sections	of	
this	report.		The	Consolidated	Financial	Statements	have	been	prepared	in	conformity	with	accounting	principles	
this	report.		The	Consolidated	Financial	Statements	have	been	prepared	in	conformity	with	accounting	principles	
generally	accepted	in	the	United	States.		In	all	material	respects,	they	reflect	the	substance	of	transactions	that	
generally	accepted	in	the	United	States.		In	all	material	respects,	they	reflect	the	substance	of	transactions	that	
should	be	included	based	on	informed	judgments,	estimates,	and	currently	available	information.		Management	
should	be	included	based	on	informed	judgments,	estimates,	and	currently	available	information.		Management	
maintains	a	system	of	internal	accounting	controls,	which	includes	the	careful	selection	and	training	of	qualified	
maintains	a	system	of	internal	accounting	controls,	which	includes	the	careful	selection	and	training	of	qualified	
personnel,	appropriate	segregation	of	responsibilities,	communication	of	written	policies	and	procedures,	and	a	
personnel,	appropriate	segregation	of	responsibilities,	communication	of	written	policies	and	procedures,	and	a	
broad	program	of	internal	audits.		The	costs	of	the	controls	are	balanced	against	the	expected	benefits.		During	
broad	program	of	internal	audits.		The	costs	of	the	controls	are	balanced	against	the	expected	benefits.		During	
2020,	the	audit	committee	of	the	board	of	directors	met	regularly	with	Management,	Huntington’s	internal	auditors,	
2020,	the	audit	committee	of	the	board	of	directors	met	regularly	with	Management,	Huntington’s	internal	auditors,	
and	the	independent	registered	public	accounting	firm,	PricewaterhouseCoopers	LLP,	to	review	the	scope	of	their	
and	the	independent	registered	public	accounting	firm,	PricewaterhouseCoopers	LLP,	to	review	the	scope	of	their	
audits	and	to	discuss	the	evaluation	of	internal	accounting	controls	and	financial	reporting	matters.		The	
audits	and	to	discuss	the	evaluation	of	internal	accounting	controls	and	financial	reporting	matters.		The	
independent	registered	public	accounting	firm	and	the	internal	auditors	have	free	access	to,	and	meet	confidentially	
independent	registered	public	accounting	firm	and	the	internal	auditors	have	free	access	to,	and	meet	confidentially	
with,	the	audit	committee	to	discuss	appropriate	matters.		Also,	Huntington	maintains	a	disclosure	review	
with,	the	audit	committee	to	discuss	appropriate	matters.		Also,	Huntington	maintains	a	disclosure	review	
committee.		This	committee’s	purpose	is	to	design	and	maintain	disclosure	controls	and	procedures	to	ensure	that	
committee.		This	committee’s	purpose	is	to	design	and	maintain	disclosure	controls	and	procedures	to	ensure	that	
material	information	relating	to	the	financial	and	operating	condition	of	Huntington	is	properly	reported	to	its	chief	
material	information	relating	to	the	financial	and	operating	condition	of	Huntington	is	properly	reported	to	its	chief	
executive	officer,	chief	financial	officer,	chief	auditor,	and	the	audit	committee	of	the	board	of	directors	in	
executive	officer,	chief	financial	officer,	chief	auditor,	and	the	audit	committee	of	the	board	of	directors	in	
connection	with	the	preparation	and	filing	of	periodic	reports	and	the	certification	of	those	reports	by	the	chief	
connection	with	the	preparation	and	filing	of	periodic	reports	and	the	certification	of	those	reports	by	the	chief	
executive	officer	and	the	chief	financial	officer.		
executive	officer	and	the	chief	financial	officer.		

REPORT	OF	MANAGEMENT’S	ASSESSMENT	OF	INTERNAL	CONTROL	OVER	FINANCIAL	REPORTING
REPORT	OF	MANAGEMENT’S	ASSESSMENT	OF	INTERNAL	CONTROL	OVER	FINANCIAL	REPORTING

Management	is	responsible	for	establishing	and	maintaining	adequate	internal	control	over	financial	reporting	as	
Management	is	responsible	for	establishing	and	maintaining	adequate	internal	control	over	financial	reporting	as	
such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	of	the	Securities	Exchange	Act	of	1934,	as	amended.		
such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	of	the	Securities	Exchange	Act	of	1934,	as	amended.		
Huntington’s	Management	assessed	the	effectiveness	of	the	Company’s	internal	control	over	financial	reporting	as	
Huntington’s	Management	assessed	the	effectiveness	of	the	Company’s	internal	control	over	financial	reporting	as	
of	December	31,	2020.		In	making	this	assessment,	Management	used	the	criteria	set	forth	by	the	Committee	of	
of	December	31,	2020.		In	making	this	assessment,	Management	used	the	criteria	set	forth	by	the	Committee	of	
Sponsoring	Organizations	of	the	Treadway	Commission	(COSO)	in	Internal	Control—Integrated	Framework	(2013).		
Sponsoring	Organizations	of	the	Treadway	Commission	(COSO)	in	Internal	Control—Integrated	Framework	(2013).		
Based	on	that	assessment,	Management	concluded	that,	as	of	December	31,	2020,	the	Company’s	internal	control	
Based	on	that	assessment,	Management	concluded	that,	as	of	December	31,	2020,	the	Company’s	internal	control	
over	financial	reporting	is	effective	based	on	those	criteria.		The	Company’s	internal	control	over	financial	reporting	
over	financial	reporting	is	effective	based	on	those	criteria.		The	Company’s	internal	control	over	financial	reporting	
as	of	December	31,	2020	has	been	audited	by	PricewaterhouseCoopers	LLP,	an	independent	registered	public	
as	of	December	31,	2020	has	been	audited	by	PricewaterhouseCoopers	LLP,	an	independent	registered	public	
accounting	firm,	as	stated	in	their	report	appearing	on	the	next	page.
accounting	firm,	as	stated	in	their	report	appearing	on	the	next	page.

Stephen	D.	Steinour	–	Chairman,	President,	and	Chief	Executive	Officer
Stephen	D.	Steinour	–	Chairman,	President,	and	Chief	Executive	Officer

Zachary	Wasserman	–	Senior	Executive	Vice	President	and	Chief	Financial	Officer
Zachary	Wasserman	–	Senior	Executive	Vice	President	and	Chief	Financial	Officer

February	26,	2021	
February	26,	2021	

To	the	Board	of	Directors	and	Shareholders	of

To	the	Board	of	Directors	and	Shareholders	of

Huntington	Bancshares	Incorporated

Huntington	Bancshares	Incorporated

Opinions	on	the	Financial	Statements	and	Internal	Control	over	Financial	Reporting

Opinions	on	the	Financial	Statements	and	Internal	Control	over	Financial	Reporting

We	have	audited	the	accompanying	consolidated	balance	sheets	of	Huntington	Bancshares	Incorporated	and	its	

We	have	audited	the	accompanying	consolidated	balance	sheets	of	Huntington	Bancshares	Incorporated	and	its	

subsidiaries	(the	“Company”)	as	of	December	31,	2020	and	2019,	and	the	related	consolidated	statements	of	

subsidiaries	(the	“Company”)	as	of	December	31,	2020	and	2019,	and	the	related	consolidated	statements	of	

income,	of	comprehensive	income,	of	changes	in	shareholders’	equity	and	of	cash	flows	for	each	of	the	three	years	

income,	of	comprehensive	income,	of	changes	in	shareholders’	equity	and	of	cash	flows	for	each	of	the	three	years	

in	the	period	ended	December	31,	2020,	including	the	related	notes	(collectively	referred	to	as	the	“consolidated	

in	the	period	ended	December	31,	2020,	including	the	related	notes	(collectively	referred	to	as	the	“consolidated	

financial	statements”).	We	also	have	audited	the	Company's	internal	control	over	financial	reporting	as	of	December	

financial	statements”).	We	also	have	audited	the	Company's	internal	control	over	financial	reporting	as	of	December	

31,	2020,	based	on	criteria	established	in	Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	Committee	of	

31,	2020,	based	on	criteria	established	in	Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	Committee	of	

Sponsoring	Organizations	of	the	Treadway	Commission	(COSO).		

Sponsoring	Organizations	of	the	Treadway	Commission	(COSO).		

In	our	opinion,	the	consolidated	financial	statements	referred	to	above	present	fairly,	in	all	material	respects,	the	

In	our	opinion,	the	consolidated	financial	statements	referred	to	above	present	fairly,	in	all	material	respects,	the	

financial	position	of	the	Company	as	of	December	31,	2020	and	2019,	and	the	results	of	its	operations	and	its	cash	

financial	position	of	the	Company	as	of	December	31,	2020	and	2019,	and	the	results	of	its	operations	and	its	cash	

flows	for	each	of	the	three	years	in	the	period	ended	December	31,	2020	in	conformity	with	accounting	principles	

flows	for	each	of	the	three	years	in	the	period	ended	December	31,	2020	in	conformity	with	accounting	principles	

generally	accepted	in	the	United	States	of	America.	Also	in	our	opinion,	the	Company	maintained,	in	all	material	

generally	accepted	in	the	United	States	of	America.	Also	in	our	opinion,	the	Company	maintained,	in	all	material	

respects,	effective	internal	control	over	financial	reporting	as	of	December	31,	2020,	based	on	criteria	established	in	

respects,	effective	internal	control	over	financial	reporting	as	of	December	31,	2020,	based	on	criteria	established	in	

Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	COSO.

Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	COSO.

Change	in	Accounting	Principle	

Change	in	Accounting	Principle	

As	discussed	in	Note	2	to	the	consolidated	financial	statements,	the	Company	changed	the	manner	in	which	it	

As	discussed	in	Note	2	to	the	consolidated	financial	statements,	the	Company	changed	the	manner	in	which	it	

accounts	for	the	allowance	for	credit	losses	as	of	January	1,	2020.

accounts	for	the	allowance	for	credit	losses	as	of	January	1,	2020.

Basis	for	Opinions

Basis	for	Opinions

The	Company's	management	is	responsible	for	these	consolidated	financial	statements,	for	maintaining	effective	

The	Company's	management	is	responsible	for	these	consolidated	financial	statements,	for	maintaining	effective	

internal	control	over	financial	reporting,	and	for	its	assessment	of	the	effectiveness	of	internal	control	over	financial	

internal	control	over	financial	reporting,	and	for	its	assessment	of	the	effectiveness	of	internal	control	over	financial	

reporting,	included	in	the	accompanying	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	

reporting,	included	in	the	accompanying	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	

Reporting.	Our	responsibility	is	to	express	opinions	on	the	Company’s	consolidated	financial	statements	and	on	the	

Reporting.	Our	responsibility	is	to	express	opinions	on	the	Company’s	consolidated	financial	statements	and	on	the	

Company's	internal	control	over	financial	reporting	based	on	our	audits.	We	are	a	public	accounting	firm	registered	

Company's	internal	control	over	financial	reporting	based	on	our	audits.	We	are	a	public	accounting	firm	registered	

with	the	Public	Company	Accounting	Oversight	Board	(United	States)	(PCAOB)	and	are	required	to	be	independent	

with	the	Public	Company	Accounting	Oversight	Board	(United	States)	(PCAOB)	and	are	required	to	be	independent	

with	respect	to	the	Company	in	accordance	with	the	U.S.	federal	securities	laws	and	the	applicable	rules	and	

with	respect	to	the	Company	in	accordance	with	the	U.S.	federal	securities	laws	and	the	applicable	rules	and	

regulations	of	the	Securities	and	Exchange	Commission	and	the	PCAOB.

regulations	of	the	Securities	and	Exchange	Commission	and	the	PCAOB.

We	conducted	our	audits	in	accordance	with	the	standards	of	the	PCAOB.	Those	standards	require	that	we	plan	and	

We	conducted	our	audits	in	accordance	with	the	standards	of	the	PCAOB.	Those	standards	require	that	we	plan	and	

perform	the	audits	to	obtain	reasonable	assurance	about	whether	the	consolidated	financial	statements	are	free	of	

perform	the	audits	to	obtain	reasonable	assurance	about	whether	the	consolidated	financial	statements	are	free	of	

material	misstatement,	whether	due	to	error	or	fraud,	and	whether	effective	internal	control	over	financial	

material	misstatement,	whether	due	to	error	or	fraud,	and	whether	effective	internal	control	over	financial	

reporting	was	maintained	in	all	material	respects.		

reporting	was	maintained	in	all	material	respects.		

Our	audits	of	the	consolidated	financial	statements	included	performing	procedures	to	assess	the	risks	of	material	

Our	audits	of	the	consolidated	financial	statements	included	performing	procedures	to	assess	the	risks	of	material	

misstatement	of	the	consolidated	financial	statements,	whether	due	to	error	or	fraud,	and	performing	procedures	

misstatement	of	the	consolidated	financial	statements,	whether	due	to	error	or	fraud,	and	performing	procedures	

that	respond	to	those	risks.	Such	procedures	included	examining,	on	a	test	basis,	evidence	regarding	the	amounts	

that	respond	to	those	risks.	Such	procedures	included	examining,	on	a	test	basis,	evidence	regarding	the	amounts	

and	disclosures	in	the	consolidated	financial	statements.	Our	audits	also	included	evaluating	the	accounting	

and	disclosures	in	the	consolidated	financial	statements.	Our	audits	also	included	evaluating	the	accounting	

principles	used	and	significant	estimates	made	by	management,	as	well	as	evaluating	the	overall	presentation	of	the	

principles	used	and	significant	estimates	made	by	management,	as	well	as	evaluating	the	overall	presentation	of	the	

consolidated	financial	statements.	Our	audit	of	internal	control	over	financial	reporting	included	obtaining	an	

consolidated	financial	statements.	Our	audit	of	internal	control	over	financial	reporting	included	obtaining	an	

understanding	of	internal	control	over	financial	reporting,	assessing	the	risk	that	a	material	weakness	exists,	and	

understanding	of	internal	control	over	financial	reporting,	assessing	the	risk	that	a	material	weakness	exists,	and	

testing	and	evaluating	the	design	and	operating	effectiveness	of	internal	control	based	on	the	assessed	risk.	Our	

testing	and	evaluating	the	design	and	operating	effectiveness	of	internal	control	based	on	the	assessed	risk.	Our	

audits	also	included	performing	such	other	procedures	as	we	considered	necessary	in	the	circumstances.	We	believe	

audits	also	included	performing	such	other	procedures	as	we	considered	necessary	in	the	circumstances.	We	believe	

that	our	audits	provide	a	reasonable	basis	for	our	opinions.

that	our	audits	provide	a	reasonable	basis	for	our	opinions.

Definition	and	Limitations	of	Internal	Control	over	Financial	Reporting

Definition	and	Limitations	of	Internal	Control	over	Financial	Reporting

A	company’s	internal	control	over	financial	reporting	is	a	process	designed	to	provide	reasonable	assurance	

A	company’s	internal	control	over	financial	reporting	is	a	process	designed	to	provide	reasonable	assurance	

regarding	the	reliability	of	financial	reporting	and	the	preparation	of	financial	statements	for	external	purposes	in	

regarding	the	reliability	of	financial	reporting	and	the	preparation	of	financial	statements	for	external	purposes	in	

accordance	with	generally	accepted	accounting	principles.	A	company’s	internal	control	over	financial	reporting	

accordance	with	generally	accepted	accounting	principles.	A	company’s	internal	control	over	financial	reporting	

102					Huntington	Bancshares	Incorporated
102					Huntington	Bancshares	Incorporated

2020	Form	10-K					103

2020	Form	10-K					103

	
	
REPORT	OF	MANAGEMENT’S	EVALUATION	OF	DISCLOSURE	CONTROLS	AND	PROCEDURES

REPORT	OF	MANAGEMENT’S	EVALUATION	OF	DISCLOSURE	CONTROLS	AND	PROCEDURES

Report	of	Independent	Registered	Public	Accounting	Firm	
Report	of	Independent	Registered	Public	Accounting	Firm	

The	Management	of	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	responsible	for	the	

The	Management	of	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	responsible	for	the	

financial	information	and	representations	contained	in	the	Consolidated	Financial	Statements	and	other	sections	of	

financial	information	and	representations	contained	in	the	Consolidated	Financial	Statements	and	other	sections	of	

this	report.		The	Consolidated	Financial	Statements	have	been	prepared	in	conformity	with	accounting	principles	

this	report.		The	Consolidated	Financial	Statements	have	been	prepared	in	conformity	with	accounting	principles	

generally	accepted	in	the	United	States.		In	all	material	respects,	they	reflect	the	substance	of	transactions	that	

generally	accepted	in	the	United	States.		In	all	material	respects,	they	reflect	the	substance	of	transactions	that	

should	be	included	based	on	informed	judgments,	estimates,	and	currently	available	information.		Management	

should	be	included	based	on	informed	judgments,	estimates,	and	currently	available	information.		Management	

maintains	a	system	of	internal	accounting	controls,	which	includes	the	careful	selection	and	training	of	qualified	

maintains	a	system	of	internal	accounting	controls,	which	includes	the	careful	selection	and	training	of	qualified	

personnel,	appropriate	segregation	of	responsibilities,	communication	of	written	policies	and	procedures,	and	a	

personnel,	appropriate	segregation	of	responsibilities,	communication	of	written	policies	and	procedures,	and	a	

broad	program	of	internal	audits.		The	costs	of	the	controls	are	balanced	against	the	expected	benefits.		During	

broad	program	of	internal	audits.		The	costs	of	the	controls	are	balanced	against	the	expected	benefits.		During	

2020,	the	audit	committee	of	the	board	of	directors	met	regularly	with	Management,	Huntington’s	internal	auditors,	

2020,	the	audit	committee	of	the	board	of	directors	met	regularly	with	Management,	Huntington’s	internal	auditors,	

and	the	independent	registered	public	accounting	firm,	PricewaterhouseCoopers	LLP,	to	review	the	scope	of	their	

and	the	independent	registered	public	accounting	firm,	PricewaterhouseCoopers	LLP,	to	review	the	scope	of	their	

audits	and	to	discuss	the	evaluation	of	internal	accounting	controls	and	financial	reporting	matters.		The	

audits	and	to	discuss	the	evaluation	of	internal	accounting	controls	and	financial	reporting	matters.		The	

independent	registered	public	accounting	firm	and	the	internal	auditors	have	free	access	to,	and	meet	confidentially	

independent	registered	public	accounting	firm	and	the	internal	auditors	have	free	access	to,	and	meet	confidentially	

with,	the	audit	committee	to	discuss	appropriate	matters.		Also,	Huntington	maintains	a	disclosure	review	

with,	the	audit	committee	to	discuss	appropriate	matters.		Also,	Huntington	maintains	a	disclosure	review	

committee.		This	committee’s	purpose	is	to	design	and	maintain	disclosure	controls	and	procedures	to	ensure	that	

committee.		This	committee’s	purpose	is	to	design	and	maintain	disclosure	controls	and	procedures	to	ensure	that	

material	information	relating	to	the	financial	and	operating	condition	of	Huntington	is	properly	reported	to	its	chief	

material	information	relating	to	the	financial	and	operating	condition	of	Huntington	is	properly	reported	to	its	chief	

executive	officer,	chief	financial	officer,	chief	auditor,	and	the	audit	committee	of	the	board	of	directors	in	

executive	officer,	chief	financial	officer,	chief	auditor,	and	the	audit	committee	of	the	board	of	directors	in	

connection	with	the	preparation	and	filing	of	periodic	reports	and	the	certification	of	those	reports	by	the	chief	

connection	with	the	preparation	and	filing	of	periodic	reports	and	the	certification	of	those	reports	by	the	chief	

executive	officer	and	the	chief	financial	officer.		

executive	officer	and	the	chief	financial	officer.		

REPORT	OF	MANAGEMENT’S	ASSESSMENT	OF	INTERNAL	CONTROL	OVER	FINANCIAL	REPORTING

REPORT	OF	MANAGEMENT’S	ASSESSMENT	OF	INTERNAL	CONTROL	OVER	FINANCIAL	REPORTING

Management	is	responsible	for	establishing	and	maintaining	adequate	internal	control	over	financial	reporting	as	

Management	is	responsible	for	establishing	and	maintaining	adequate	internal	control	over	financial	reporting	as	

such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	of	the	Securities	Exchange	Act	of	1934,	as	amended.		

such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	of	the	Securities	Exchange	Act	of	1934,	as	amended.		

Huntington’s	Management	assessed	the	effectiveness	of	the	Company’s	internal	control	over	financial	reporting	as	

Huntington’s	Management	assessed	the	effectiveness	of	the	Company’s	internal	control	over	financial	reporting	as	

of	December	31,	2020.		In	making	this	assessment,	Management	used	the	criteria	set	forth	by	the	Committee	of	

of	December	31,	2020.		In	making	this	assessment,	Management	used	the	criteria	set	forth	by	the	Committee	of	

Sponsoring	Organizations	of	the	Treadway	Commission	(COSO)	in	Internal	Control—Integrated	Framework	(2013).		

Sponsoring	Organizations	of	the	Treadway	Commission	(COSO)	in	Internal	Control—Integrated	Framework	(2013).		

Based	on	that	assessment,	Management	concluded	that,	as	of	December	31,	2020,	the	Company’s	internal	control	

Based	on	that	assessment,	Management	concluded	that,	as	of	December	31,	2020,	the	Company’s	internal	control	

over	financial	reporting	is	effective	based	on	those	criteria.		The	Company’s	internal	control	over	financial	reporting	

over	financial	reporting	is	effective	based	on	those	criteria.		The	Company’s	internal	control	over	financial	reporting	

as	of	December	31,	2020	has	been	audited	by	PricewaterhouseCoopers	LLP,	an	independent	registered	public	

as	of	December	31,	2020	has	been	audited	by	PricewaterhouseCoopers	LLP,	an	independent	registered	public	

accounting	firm,	as	stated	in	their	report	appearing	on	the	next	page.

accounting	firm,	as	stated	in	their	report	appearing	on	the	next	page.

Stephen	D.	Steinour	–	Chairman,	President,	and	Chief	Executive	Officer

Stephen	D.	Steinour	–	Chairman,	President,	and	Chief	Executive	Officer

Zachary	Wasserman	–	Senior	Executive	Vice	President	and	Chief	Financial	Officer

Zachary	Wasserman	–	Senior	Executive	Vice	President	and	Chief	Financial	Officer

February	26,	2021	

February	26,	2021	

To	the	Board	of	Directors	and	Shareholders	of
To	the	Board	of	Directors	and	Shareholders	of
Huntington	Bancshares	Incorporated
Huntington	Bancshares	Incorporated

Opinions	on	the	Financial	Statements	and	Internal	Control	over	Financial	Reporting
Opinions	on	the	Financial	Statements	and	Internal	Control	over	Financial	Reporting
We	have	audited	the	accompanying	consolidated	balance	sheets	of	Huntington	Bancshares	Incorporated	and	its	
We	have	audited	the	accompanying	consolidated	balance	sheets	of	Huntington	Bancshares	Incorporated	and	its	
subsidiaries	(the	“Company”)	as	of	December	31,	2020	and	2019,	and	the	related	consolidated	statements	of	
subsidiaries	(the	“Company”)	as	of	December	31,	2020	and	2019,	and	the	related	consolidated	statements	of	
income,	of	comprehensive	income,	of	changes	in	shareholders’	equity	and	of	cash	flows	for	each	of	the	three	years	
income,	of	comprehensive	income,	of	changes	in	shareholders’	equity	and	of	cash	flows	for	each	of	the	three	years	
in	the	period	ended	December	31,	2020,	including	the	related	notes	(collectively	referred	to	as	the	“consolidated	
in	the	period	ended	December	31,	2020,	including	the	related	notes	(collectively	referred	to	as	the	“consolidated	
financial	statements”).	We	also	have	audited	the	Company's	internal	control	over	financial	reporting	as	of	December	
financial	statements”).	We	also	have	audited	the	Company's	internal	control	over	financial	reporting	as	of	December	
31,	2020,	based	on	criteria	established	in	Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	Committee	of	
31,	2020,	based	on	criteria	established	in	Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	Committee	of	
Sponsoring	Organizations	of	the	Treadway	Commission	(COSO).		
Sponsoring	Organizations	of	the	Treadway	Commission	(COSO).		

In	our	opinion,	the	consolidated	financial	statements	referred	to	above	present	fairly,	in	all	material	respects,	the	
In	our	opinion,	the	consolidated	financial	statements	referred	to	above	present	fairly,	in	all	material	respects,	the	
financial	position	of	the	Company	as	of	December	31,	2020	and	2019,	and	the	results	of	its	operations	and	its	cash	
financial	position	of	the	Company	as	of	December	31,	2020	and	2019,	and	the	results	of	its	operations	and	its	cash	
flows	for	each	of	the	three	years	in	the	period	ended	December	31,	2020	in	conformity	with	accounting	principles	
flows	for	each	of	the	three	years	in	the	period	ended	December	31,	2020	in	conformity	with	accounting	principles	
generally	accepted	in	the	United	States	of	America.	Also	in	our	opinion,	the	Company	maintained,	in	all	material	
generally	accepted	in	the	United	States	of	America.	Also	in	our	opinion,	the	Company	maintained,	in	all	material	
respects,	effective	internal	control	over	financial	reporting	as	of	December	31,	2020,	based	on	criteria	established	in	
respects,	effective	internal	control	over	financial	reporting	as	of	December	31,	2020,	based	on	criteria	established	in	
Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	COSO.
Internal	Control	-	Integrated	Framework	(2013)	issued	by	the	COSO.

Change	in	Accounting	Principle	
Change	in	Accounting	Principle	

As	discussed	in	Note	2	to	the	consolidated	financial	statements,	the	Company	changed	the	manner	in	which	it	
As	discussed	in	Note	2	to	the	consolidated	financial	statements,	the	Company	changed	the	manner	in	which	it	
accounts	for	the	allowance	for	credit	losses	as	of	January	1,	2020.
accounts	for	the	allowance	for	credit	losses	as	of	January	1,	2020.

Basis	for	Opinions
Basis	for	Opinions
The	Company's	management	is	responsible	for	these	consolidated	financial	statements,	for	maintaining	effective	
The	Company's	management	is	responsible	for	these	consolidated	financial	statements,	for	maintaining	effective	
internal	control	over	financial	reporting,	and	for	its	assessment	of	the	effectiveness	of	internal	control	over	financial	
internal	control	over	financial	reporting,	and	for	its	assessment	of	the	effectiveness	of	internal	control	over	financial	
reporting,	included	in	the	accompanying	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	
reporting,	included	in	the	accompanying	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	
Reporting.	Our	responsibility	is	to	express	opinions	on	the	Company’s	consolidated	financial	statements	and	on	the	
Reporting.	Our	responsibility	is	to	express	opinions	on	the	Company’s	consolidated	financial	statements	and	on	the	
Company's	internal	control	over	financial	reporting	based	on	our	audits.	We	are	a	public	accounting	firm	registered	
Company's	internal	control	over	financial	reporting	based	on	our	audits.	We	are	a	public	accounting	firm	registered	
with	the	Public	Company	Accounting	Oversight	Board	(United	States)	(PCAOB)	and	are	required	to	be	independent	
with	the	Public	Company	Accounting	Oversight	Board	(United	States)	(PCAOB)	and	are	required	to	be	independent	
with	respect	to	the	Company	in	accordance	with	the	U.S.	federal	securities	laws	and	the	applicable	rules	and	
with	respect	to	the	Company	in	accordance	with	the	U.S.	federal	securities	laws	and	the	applicable	rules	and	
regulations	of	the	Securities	and	Exchange	Commission	and	the	PCAOB.
regulations	of	the	Securities	and	Exchange	Commission	and	the	PCAOB.

We	conducted	our	audits	in	accordance	with	the	standards	of	the	PCAOB.	Those	standards	require	that	we	plan	and	
We	conducted	our	audits	in	accordance	with	the	standards	of	the	PCAOB.	Those	standards	require	that	we	plan	and	
perform	the	audits	to	obtain	reasonable	assurance	about	whether	the	consolidated	financial	statements	are	free	of	
perform	the	audits	to	obtain	reasonable	assurance	about	whether	the	consolidated	financial	statements	are	free	of	
material	misstatement,	whether	due	to	error	or	fraud,	and	whether	effective	internal	control	over	financial	
material	misstatement,	whether	due	to	error	or	fraud,	and	whether	effective	internal	control	over	financial	
reporting	was	maintained	in	all	material	respects.		
reporting	was	maintained	in	all	material	respects.		

Our	audits	of	the	consolidated	financial	statements	included	performing	procedures	to	assess	the	risks	of	material	
Our	audits	of	the	consolidated	financial	statements	included	performing	procedures	to	assess	the	risks	of	material	
misstatement	of	the	consolidated	financial	statements,	whether	due	to	error	or	fraud,	and	performing	procedures	
misstatement	of	the	consolidated	financial	statements,	whether	due	to	error	or	fraud,	and	performing	procedures	
that	respond	to	those	risks.	Such	procedures	included	examining,	on	a	test	basis,	evidence	regarding	the	amounts	
that	respond	to	those	risks.	Such	procedures	included	examining,	on	a	test	basis,	evidence	regarding	the	amounts	
and	disclosures	in	the	consolidated	financial	statements.	Our	audits	also	included	evaluating	the	accounting	
and	disclosures	in	the	consolidated	financial	statements.	Our	audits	also	included	evaluating	the	accounting	
principles	used	and	significant	estimates	made	by	management,	as	well	as	evaluating	the	overall	presentation	of	the	
principles	used	and	significant	estimates	made	by	management,	as	well	as	evaluating	the	overall	presentation	of	the	
consolidated	financial	statements.	Our	audit	of	internal	control	over	financial	reporting	included	obtaining	an	
consolidated	financial	statements.	Our	audit	of	internal	control	over	financial	reporting	included	obtaining	an	
understanding	of	internal	control	over	financial	reporting,	assessing	the	risk	that	a	material	weakness	exists,	and	
understanding	of	internal	control	over	financial	reporting,	assessing	the	risk	that	a	material	weakness	exists,	and	
testing	and	evaluating	the	design	and	operating	effectiveness	of	internal	control	based	on	the	assessed	risk.	Our	
testing	and	evaluating	the	design	and	operating	effectiveness	of	internal	control	based	on	the	assessed	risk.	Our	
audits	also	included	performing	such	other	procedures	as	we	considered	necessary	in	the	circumstances.	We	believe	
audits	also	included	performing	such	other	procedures	as	we	considered	necessary	in	the	circumstances.	We	believe	
that	our	audits	provide	a	reasonable	basis	for	our	opinions.
that	our	audits	provide	a	reasonable	basis	for	our	opinions.

Definition	and	Limitations	of	Internal	Control	over	Financial	Reporting
Definition	and	Limitations	of	Internal	Control	over	Financial	Reporting
A	company’s	internal	control	over	financial	reporting	is	a	process	designed	to	provide	reasonable	assurance	
A	company’s	internal	control	over	financial	reporting	is	a	process	designed	to	provide	reasonable	assurance	
regarding	the	reliability	of	financial	reporting	and	the	preparation	of	financial	statements	for	external	purposes	in	
regarding	the	reliability	of	financial	reporting	and	the	preparation	of	financial	statements	for	external	purposes	in	
accordance	with	generally	accepted	accounting	principles.	A	company’s	internal	control	over	financial	reporting	
accordance	with	generally	accepted	accounting	principles.	A	company’s	internal	control	over	financial	reporting	

102					Huntington	Bancshares	Incorporated

102					Huntington	Bancshares	Incorporated

2020	Form	10-K					103
2020	Form	10-K					103

	
	
includes	those	policies	and	procedures	that	(i)	pertain	to	the	maintenance	of	records	that,	in	reasonable	detail,	accurately	and	fairly	reflect	the	transactions	and	dispositions	of	the	assets	of	the	company;	(ii)	provide	reasonable	assurance	that	transactions	are	recorded	as	necessary	to	permit	preparation	of	financial	statements	in	accordance	with	generally	accepted	accounting	principles,	and	that	receipts	and	expenditures	of	the	company	are	being	made	only	in	accordance	with	authorizations	of	management	and	directors	of	the	company;	and	(iii)	provide	reasonable	assurance	regarding	prevention	or	timely	detection	of	unauthorized	acquisition,	use,	or	disposition	of	the	company’s	assets	that	could	have	a	material	effect	on	the	financial	statements.Because	of	its	inherent	limitations,	internal	control	over	financial	reporting	may	not	prevent	or	detect	misstatements.	Also,	projections	of	any	evaluation	of	effectiveness	to	future	periods	are	subject	to	the	risk	that	controls	may	become	inadequate	because	of	changes	in	conditions,	or	that	the	degree	of	compliance	with	the	policies	or	procedures	may	deteriorate.Critical	Audit	MattersThe	critical	audit	matter	communicated	below	is	a	matter	arising	from	the	current	period	audit	of	the	consolidated	financial	statements	that	was	communicated	or	required	to	be	communicated	to	the	audit	committee	and	that	(i)	relates	to	accounts	or	disclosures	that	are	material	to	the	consolidated	financial	statements	and	(ii)	involved	our	especially	challenging,	subjective,	or	complex	judgments.	The	communication	of	critical	audit	matters	does	not	alter	in	any	way	our	opinion	on	the	consolidated	financial	statements,	taken	as	a	whole,	and	we	are	not,	by	communicating	the	critical	audit	matter	below,	providing	a	separate	opinion	on	the	critical	audit	matter	or	on	the	accounts	or	disclosures	to	which	it	relates.Valuation	of	Allowance	for	Credit	Losses	–	General	ReserveAs	described	in	Notes	1	and	6	to	the	consolidated	financial	statements,	management’s	estimate	of	the	allowance	for	credit	losses	includes	a	general	reserve	component	which	consists	of	various	risk-profile	reserve	components.	The	risk-profile	components	consider	items	unique	to	the	Company’s	structure,	policies,	processes,	and	portfolio	composition.	The	general	reserve	also	considers	qualitative	measurements	and	assessments	of	the	Company’s	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	composition,	industry	comparisons,	and	internal	review	functions.The	principal	considerations	for	our	determination	that	performing	procedures	relating	to	the	valuation	of	the	general	reserve	component	of	the	allowance	for	credit	losses	is	a	critical	audit	matter	are	(i)	the	valuation	involved	the	application	of	significant	judgment	and	estimation	by	management	when	determining	the	general	reserve	calculation,	which	in	turn	led	to	a	high	degree	of	auditor	judgment	and	subjectivity	in	performing	procedures	and	evaluating	audit	evidence	relating	to	the	assumptions	used	in	the	general	reserve,	(ii)	the	significant	audit	effort	in	evaluating	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component,	and	(iii)	the	audit	effort	included	the	involvement	of	professionals	with	specialized	skill	and	knowledge.	Addressing	the	matter	involved	performing	procedures	and	evaluating	audit	evidence	in	connection	with	forming	our	overall	opinion	on	the	consolidated	financial	statements.	These	procedures	included	testing	the	effectiveness	of	controls	relating	to	valuation	of	the	Company’s	general	reserve	component	of	allowance	for	credit	losses.	These	procedures	also	included,	among	others,	testing	management’s	process	for	determining	the	general	reserve	component,	including	evaluating	the	appropriateness	of	management’s	methodology,	testing	the	completeness	and	accuracy	of	data	utilized	by	management	and	evaluating	the	reasonableness	of	significant	assumptions	relating	to	the	general	reserve	component.	Evaluating	management’s	assumptions	relating	to	the	general	reserve	component	involved	evaluating	whether	the	assumptions	used	were	reasonable	considering	portfolio	composition,	relevant	market	data,	and	indicators	of	economic	uncertainty.	Professionals	with	specialized	skill	and	knowledge	were	used	to	assist	in	evaluating	the	appropriateness	of	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component.Columbus,	OhioFebruary	26,	2021	We	have	served	as	the	Company’s	auditor	since	2015.	104					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Balance	Sheets	December	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	1,319	$	1,045	Interest-bearing	deposits	at	Federal	Reserve	Bank	5,276		125	Interest-bearing	deposits	in	banks	117		102	Trading	account	securities	62		99	Available-for-sale	securities	16,485		14,149	Held-to-maturity	securities	8,861		9,070	Other	securities	418		441	Loans	held	for	sale	(includes	$1,198	and	$781	respectively,	measured	at	fair	value)(1)	1,275		877	Loans	and	leases	(includes	$94	and	$81	respectively,	measured	at	fair	value)(1)	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases	79,794		74,621	Bank	owned	life	insurance	2,577		2,542	Premises	and	equipment	757		763	Goodwill	1,990		1,990	Servicing	rights	and	other	intangible	assets	428		475	Other	assets	3,679		2,703	Total	assets$	123,038	$	109,002	Liabilities	and	shareholders’	equityLiabilitiesDeposits:Demand	deposits—noninterest-bearing$	28,553	$	20,247	Interest-bearing	70,395		62,100	Total	Deposits	98,948		82,347	Short-term	borrowings	183		2,606	Long-term	debt	8,352		9,849	Other	liabilities	2,562		2,405	Total	liabilities	110,045		97,207	Commitments	and	Contingent	Liabilities	(Note	23)Shareholders’	equityPreferred	stock	2,191		1,203	Common	stock	10		10	Capital	surplus	8,781		8,806	Less	treasury	shares,	at	cost	(59)		(56)	Accumulated	other	comprehensive	loss	192		(256)	Retained	earnings		1,878		2,088	Total	shareholders’	equity	12,993		11,795	Total	liabilities	and	shareholders’	equity$	123,038	$	109,002	Common	shares	authorized	(par	value	of	$0.01)	1,500,000,000		1,500,000,000	Common	shares	outstanding	1,017,196,776		1,020,003,482	Treasury	shares	outstanding	5,062,054		4,537,605	Preferred	stock,	authorized	shares	6,617,808		6,617,808	Preferred	shares	outstanding	750,500		740,500	(1)Amounts	represent	loans	for	which	Huntington	has	elected	the	fair	value	option.	See	Note	20.See	Notes	to	Consolidated	Financial	Statements2020	Form	10-K					105includes	those	policies	and	procedures	that	(i)	pertain	to	the	maintenance	of	records	that,	in	reasonable	detail,	accurately	and	fairly	reflect	the	transactions	and	dispositions	of	the	assets	of	the	company;	(ii)	provide	reasonable	assurance	that	transactions	are	recorded	as	necessary	to	permit	preparation	of	financial	statements	in	accordance	with	generally	accepted	accounting	principles,	and	that	receipts	and	expenditures	of	the	company	are	being	made	only	in	accordance	with	authorizations	of	management	and	directors	of	the	company;	and	(iii)	provide	reasonable	assurance	regarding	prevention	or	timely	detection	of	unauthorized	acquisition,	use,	or	disposition	of	the	company’s	assets	that	could	have	a	material	effect	on	the	financial	statements.Because	of	its	inherent	limitations,	internal	control	over	financial	reporting	may	not	prevent	or	detect	misstatements.	Also,	projections	of	any	evaluation	of	effectiveness	to	future	periods	are	subject	to	the	risk	that	controls	may	become	inadequate	because	of	changes	in	conditions,	or	that	the	degree	of	compliance	with	the	policies	or	procedures	may	deteriorate.Critical	Audit	MattersThe	critical	audit	matter	communicated	below	is	a	matter	arising	from	the	current	period	audit	of	the	consolidated	financial	statements	that	was	communicated	or	required	to	be	communicated	to	the	audit	committee	and	that	(i)	relates	to	accounts	or	disclosures	that	are	material	to	the	consolidated	financial	statements	and	(ii)	involved	our	especially	challenging,	subjective,	or	complex	judgments.	The	communication	of	critical	audit	matters	does	not	alter	in	any	way	our	opinion	on	the	consolidated	financial	statements,	taken	as	a	whole,	and	we	are	not,	by	communicating	the	critical	audit	matter	below,	providing	a	separate	opinion	on	the	critical	audit	matter	or	on	the	accounts	or	disclosures	to	which	it	relates.Valuation	of	Allowance	for	Credit	Losses	–	General	ReserveAs	described	in	Notes	1	and	6	to	the	consolidated	financial	statements,	management’s	estimate	of	the	allowance	for	credit	losses	includes	a	general	reserve	component	which	consists	of	various	risk-profile	reserve	components.	The	risk-profile	components	consider	items	unique	to	the	Company’s	structure,	policies,	processes,	and	portfolio	composition.	The	general	reserve	also	considers	qualitative	measurements	and	assessments	of	the	Company’s	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	composition,	industry	comparisons,	and	internal	review	functions.The	principal	considerations	for	our	determination	that	performing	procedures	relating	to	the	valuation	of	the	general	reserve	component	of	the	allowance	for	credit	losses	is	a	critical	audit	matter	are	(i)	the	valuation	involved	the	application	of	significant	judgment	and	estimation	by	management	when	determining	the	general	reserve	calculation,	which	in	turn	led	to	a	high	degree	of	auditor	judgment	and	subjectivity	in	performing	procedures	and	evaluating	audit	evidence	relating	to	the	assumptions	used	in	the	general	reserve,	(ii)	the	significant	audit	effort	in	evaluating	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component,	and	(iii)	the	audit	effort	included	the	involvement	of	professionals	with	specialized	skill	and	knowledge.	Addressing	the	matter	involved	performing	procedures	and	evaluating	audit	evidence	in	connection	with	forming	our	overall	opinion	on	the	consolidated	financial	statements.	These	procedures	included	testing	the	effectiveness	of	controls	relating	to	valuation	of	the	Company’s	general	reserve	component	of	allowance	for	credit	losses.	These	procedures	also	included,	among	others,	testing	management’s	process	for	determining	the	general	reserve	component,	including	evaluating	the	appropriateness	of	management’s	methodology,	testing	the	completeness	and	accuracy	of	data	utilized	by	management	and	evaluating	the	reasonableness	of	significant	assumptions	relating	to	the	general	reserve	component.	Evaluating	management’s	assumptions	relating	to	the	general	reserve	component	involved	evaluating	whether	the	assumptions	used	were	reasonable	considering	portfolio	composition,	relevant	market	data,	and	indicators	of	economic	uncertainty.	Professionals	with	specialized	skill	and	knowledge	were	used	to	assist	in	evaluating	the	appropriateness	of	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component.Columbus,	OhioFebruary	26,	2021	We	have	served	as	the	Company’s	auditor	since	2015.	104					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Balance	Sheets	December	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	1,319	$	1,045	Interest-bearing	deposits	at	Federal	Reserve	Bank	5,276		125	Interest-bearing	deposits	in	banks	117		102	Trading	account	securities	62		99	Available-for-sale	securities	16,485		14,149	Held-to-maturity	securities	8,861		9,070	Other	securities	418		441	Loans	held	for	sale	(includes	$1,198	and	$781	respectively,	measured	at	fair	value)(1)	1,275		877	Loans	and	leases	(includes	$94	and	$81	respectively,	measured	at	fair	value)(1)	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases	79,794		74,621	Bank	owned	life	insurance	2,577		2,542	Premises	and	equipment	757		763	Goodwill	1,990		1,990	Servicing	rights	and	other	intangible	assets	428		475	Other	assets	3,679		2,703	Total	assets$	123,038	$	109,002	Liabilities	and	shareholders’	equityLiabilitiesDeposits:Demand	deposits—noninterest-bearing$	28,553	$	20,247	Interest-bearing	70,395		62,100	Total	Deposits	98,948		82,347	Short-term	borrowings	183		2,606	Long-term	debt	8,352		9,849	Other	liabilities	2,562		2,405	Total	liabilities	110,045		97,207	Commitments	and	Contingent	Liabilities	(Note	23)Shareholders’	equityPreferred	stock	2,191		1,203	Common	stock	10		10	Capital	surplus	8,781		8,806	Less	treasury	shares,	at	cost	(59)		(56)	Accumulated	other	comprehensive	loss	192		(256)	Retained	earnings		1,878		2,088	Total	shareholders’	equity	12,993		11,795	Total	liabilities	and	shareholders’	equity$	123,038	$	109,002	Common	shares	authorized	(par	value	of	$0.01)	1,500,000,000		1,500,000,000	Common	shares	outstanding	1,017,196,776		1,020,003,482	Treasury	shares	outstanding	5,062,054		4,537,605	Preferred	stock,	authorized	shares	6,617,808		6,617,808	Preferred	shares	outstanding	750,500		740,500	(1)Amounts	represent	loans	for	which	Huntington	has	elected	the	fair	value	option.	See	Note	20.See	Notes	to	Consolidated	Financial	Statements2020	Form	10-K					105includes	those	policies	and	procedures	that	(i)	pertain	to	the	maintenance	of	records	that,	in	reasonable	detail,	accurately	and	fairly	reflect	the	transactions	and	dispositions	of	the	assets	of	the	company;	(ii)	provide	reasonable	assurance	that	transactions	are	recorded	as	necessary	to	permit	preparation	of	financial	statements	in	accordance	with	generally	accepted	accounting	principles,	and	that	receipts	and	expenditures	of	the	company	are	being	made	only	in	accordance	with	authorizations	of	management	and	directors	of	the	company;	and	(iii)	provide	reasonable	assurance	regarding	prevention	or	timely	detection	of	unauthorized	acquisition,	use,	or	disposition	of	the	company’s	assets	that	could	have	a	material	effect	on	the	financial	statements.Because	of	its	inherent	limitations,	internal	control	over	financial	reporting	may	not	prevent	or	detect	misstatements.	Also,	projections	of	any	evaluation	of	effectiveness	to	future	periods	are	subject	to	the	risk	that	controls	may	become	inadequate	because	of	changes	in	conditions,	or	that	the	degree	of	compliance	with	the	policies	or	procedures	may	deteriorate.Critical	Audit	MattersThe	critical	audit	matter	communicated	below	is	a	matter	arising	from	the	current	period	audit	of	the	consolidated	financial	statements	that	was	communicated	or	required	to	be	communicated	to	the	audit	committee	and	that	(i)	relates	to	accounts	or	disclosures	that	are	material	to	the	consolidated	financial	statements	and	(ii)	involved	our	especially	challenging,	subjective,	or	complex	judgments.	The	communication	of	critical	audit	matters	does	not	alter	in	any	way	our	opinion	on	the	consolidated	financial	statements,	taken	as	a	whole,	and	we	are	not,	by	communicating	the	critical	audit	matter	below,	providing	a	separate	opinion	on	the	critical	audit	matter	or	on	the	accounts	or	disclosures	to	which	it	relates.Valuation	of	Allowance	for	Credit	Losses	–	General	ReserveAs	described	in	Notes	1	and	6	to	the	consolidated	financial	statements,	management’s	estimate	of	the	allowance	for	credit	losses	includes	a	general	reserve	component	which	consists	of	various	risk-profile	reserve	components.	The	risk-profile	components	consider	items	unique	to	the	Company’s	structure,	policies,	processes,	and	portfolio	composition.	The	general	reserve	also	considers	qualitative	measurements	and	assessments	of	the	Company’s	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	composition,	industry	comparisons,	and	internal	review	functions.The	principal	considerations	for	our	determination	that	performing	procedures	relating	to	the	valuation	of	the	general	reserve	component	of	the	allowance	for	credit	losses	is	a	critical	audit	matter	are	(i)	the	valuation	involved	the	application	of	significant	judgment	and	estimation	by	management	when	determining	the	general	reserve	calculation,	which	in	turn	led	to	a	high	degree	of	auditor	judgment	and	subjectivity	in	performing	procedures	and	evaluating	audit	evidence	relating	to	the	assumptions	used	in	the	general	reserve,	(ii)	the	significant	audit	effort	in	evaluating	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component,	and	(iii)	the	audit	effort	included	the	involvement	of	professionals	with	specialized	skill	and	knowledge.	Addressing	the	matter	involved	performing	procedures	and	evaluating	audit	evidence	in	connection	with	forming	our	overall	opinion	on	the	consolidated	financial	statements.	These	procedures	included	testing	the	effectiveness	of	controls	relating	to	valuation	of	the	Company’s	general	reserve	component	of	allowance	for	credit	losses.	These	procedures	also	included,	among	others,	testing	management’s	process	for	determining	the	general	reserve	component,	including	evaluating	the	appropriateness	of	management’s	methodology,	testing	the	completeness	and	accuracy	of	data	utilized	by	management	and	evaluating	the	reasonableness	of	significant	assumptions	relating	to	the	general	reserve	component.	Evaluating	management’s	assumptions	relating	to	the	general	reserve	component	involved	evaluating	whether	the	assumptions	used	were	reasonable	considering	portfolio	composition,	relevant	market	data,	and	indicators	of	economic	uncertainty.	Professionals	with	specialized	skill	and	knowledge	were	used	to	assist	in	evaluating	the	appropriateness	of	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component.Columbus,	OhioFebruary	26,	2021	We	have	served	as	the	Company’s	auditor	since	2015.	104					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Balance	Sheets	December	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	1,319	$	1,045	Interest-bearing	deposits	at	Federal	Reserve	Bank	5,276		125	Interest-bearing	deposits	in	banks	117		102	Trading	account	securities	62		99	Available-for-sale	securities	16,485		14,149	Held-to-maturity	securities	8,861		9,070	Other	securities	418		441	Loans	held	for	sale	(includes	$1,198	and	$781	respectively,	measured	at	fair	value)(1)	1,275		877	Loans	and	leases	(includes	$94	and	$81	respectively,	measured	at	fair	value)(1)	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases	79,794		74,621	Bank	owned	life	insurance	2,577		2,542	Premises	and	equipment	757		763	Goodwill	1,990		1,990	Servicing	rights	and	other	intangible	assets	428		475	Other	assets	3,679		2,703	Total	assets$	123,038	$	109,002	Liabilities	and	shareholders’	equityLiabilitiesDeposits:Demand	deposits—noninterest-bearing$	28,553	$	20,247	Interest-bearing	70,395		62,100	Total	Deposits	98,948		82,347	Short-term	borrowings	183		2,606	Long-term	debt	8,352		9,849	Other	liabilities	2,562		2,405	Total	liabilities	110,045		97,207	Commitments	and	Contingent	Liabilities	(Note	23)Shareholders’	equityPreferred	stock	2,191		1,203	Common	stock	10		10	Capital	surplus	8,781		8,806	Less	treasury	shares,	at	cost	(59)		(56)	Accumulated	other	comprehensive	loss	192		(256)	Retained	earnings		1,878		2,088	Total	shareholders’	equity	12,993		11,795	Total	liabilities	and	shareholders’	equity$	123,038	$	109,002	Common	shares	authorized	(par	value	of	$0.01)	1,500,000,000		1,500,000,000	Common	shares	outstanding	1,017,196,776		1,020,003,482	Treasury	shares	outstanding	5,062,054		4,537,605	Preferred	stock,	authorized	shares	6,617,808		6,617,808	Preferred	shares	outstanding	750,500		740,500	(1)Amounts	represent	loans	for	which	Huntington	has	elected	the	fair	value	option.	See	Note	20.See	Notes	to	Consolidated	Financial	Statements2020	Form	10-K					105includes	those	policies	and	procedures	that	(i)	pertain	to	the	maintenance	of	records	that,	in	reasonable	detail,	accurately	and	fairly	reflect	the	transactions	and	dispositions	of	the	assets	of	the	company;	(ii)	provide	reasonable	assurance	that	transactions	are	recorded	as	necessary	to	permit	preparation	of	financial	statements	in	accordance	with	generally	accepted	accounting	principles,	and	that	receipts	and	expenditures	of	the	company	are	being	made	only	in	accordance	with	authorizations	of	management	and	directors	of	the	company;	and	(iii)	provide	reasonable	assurance	regarding	prevention	or	timely	detection	of	unauthorized	acquisition,	use,	or	disposition	of	the	company’s	assets	that	could	have	a	material	effect	on	the	financial	statements.Because	of	its	inherent	limitations,	internal	control	over	financial	reporting	may	not	prevent	or	detect	misstatements.	Also,	projections	of	any	evaluation	of	effectiveness	to	future	periods	are	subject	to	the	risk	that	controls	may	become	inadequate	because	of	changes	in	conditions,	or	that	the	degree	of	compliance	with	the	policies	or	procedures	may	deteriorate.Critical	Audit	MattersThe	critical	audit	matter	communicated	below	is	a	matter	arising	from	the	current	period	audit	of	the	consolidated	financial	statements	that	was	communicated	or	required	to	be	communicated	to	the	audit	committee	and	that	(i)	relates	to	accounts	or	disclosures	that	are	material	to	the	consolidated	financial	statements	and	(ii)	involved	our	especially	challenging,	subjective,	or	complex	judgments.	The	communication	of	critical	audit	matters	does	not	alter	in	any	way	our	opinion	on	the	consolidated	financial	statements,	taken	as	a	whole,	and	we	are	not,	by	communicating	the	critical	audit	matter	below,	providing	a	separate	opinion	on	the	critical	audit	matter	or	on	the	accounts	or	disclosures	to	which	it	relates.Valuation	of	Allowance	for	Credit	Losses	–	General	ReserveAs	described	in	Notes	1	and	6	to	the	consolidated	financial	statements,	management’s	estimate	of	the	allowance	for	credit	losses	includes	a	general	reserve	component	which	consists	of	various	risk-profile	reserve	components.	The	risk-profile	components	consider	items	unique	to	the	Company’s	structure,	policies,	processes,	and	portfolio	composition.	The	general	reserve	also	considers	qualitative	measurements	and	assessments	of	the	Company’s	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	composition,	industry	comparisons,	and	internal	review	functions.The	principal	considerations	for	our	determination	that	performing	procedures	relating	to	the	valuation	of	the	general	reserve	component	of	the	allowance	for	credit	losses	is	a	critical	audit	matter	are	(i)	the	valuation	involved	the	application	of	significant	judgment	and	estimation	by	management	when	determining	the	general	reserve	calculation,	which	in	turn	led	to	a	high	degree	of	auditor	judgment	and	subjectivity	in	performing	procedures	and	evaluating	audit	evidence	relating	to	the	assumptions	used	in	the	general	reserve,	(ii)	the	significant	audit	effort	in	evaluating	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component,	and	(iii)	the	audit	effort	included	the	involvement	of	professionals	with	specialized	skill	and	knowledge.	Addressing	the	matter	involved	performing	procedures	and	evaluating	audit	evidence	in	connection	with	forming	our	overall	opinion	on	the	consolidated	financial	statements.	These	procedures	included	testing	the	effectiveness	of	controls	relating	to	valuation	of	the	Company’s	general	reserve	component	of	allowance	for	credit	losses.	These	procedures	also	included,	among	others,	testing	management’s	process	for	determining	the	general	reserve	component,	including	evaluating	the	appropriateness	of	management’s	methodology,	testing	the	completeness	and	accuracy	of	data	utilized	by	management	and	evaluating	the	reasonableness	of	significant	assumptions	relating	to	the	general	reserve	component.	Evaluating	management’s	assumptions	relating	to	the	general	reserve	component	involved	evaluating	whether	the	assumptions	used	were	reasonable	considering	portfolio	composition,	relevant	market	data,	and	indicators	of	economic	uncertainty.	Professionals	with	specialized	skill	and	knowledge	were	used	to	assist	in	evaluating	the	appropriateness	of	management’s	methodology,	significant	assumptions	and	calculations	relating	to	the	general	reserve	component.Columbus,	OhioFebruary	26,	2021	We	have	served	as	the	Company’s	auditor	since	2015.	104					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Balance	Sheets	December	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	1,319	$	1,045	Interest-bearing	deposits	at	Federal	Reserve	Bank	5,276		125	Interest-bearing	deposits	in	banks	117		102	Trading	account	securities	62		99	Available-for-sale	securities	16,485		14,149	Held-to-maturity	securities	8,861		9,070	Other	securities	418		441	Loans	held	for	sale	(includes	$1,198	and	$781	respectively,	measured	at	fair	value)(1)	1,275		877	Loans	and	leases	(includes	$94	and	$81	respectively,	measured	at	fair	value)(1)	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases	79,794		74,621	Bank	owned	life	insurance	2,577		2,542	Premises	and	equipment	757		763	Goodwill	1,990		1,990	Servicing	rights	and	other	intangible	assets	428		475	Other	assets	3,679		2,703	Total	assets$	123,038	$	109,002	Liabilities	and	shareholders’	equityLiabilitiesDeposits:Demand	deposits—noninterest-bearing$	28,553	$	20,247	Interest-bearing	70,395		62,100	Total	Deposits	98,948		82,347	Short-term	borrowings	183		2,606	Long-term	debt	8,352		9,849	Other	liabilities	2,562		2,405	Total	liabilities	110,045		97,207	Commitments	and	Contingent	Liabilities	(Note	23)Shareholders’	equityPreferred	stock	2,191		1,203	Common	stock	10		10	Capital	surplus	8,781		8,806	Less	treasury	shares,	at	cost	(59)		(56)	Accumulated	other	comprehensive	loss	192		(256)	Retained	earnings		1,878		2,088	Total	shareholders’	equity	12,993		11,795	Total	liabilities	and	shareholders’	equity$	123,038	$	109,002	Common	shares	authorized	(par	value	of	$0.01)	1,500,000,000		1,500,000,000	Common	shares	outstanding	1,017,196,776		1,020,003,482	Treasury	shares	outstanding	5,062,054		4,537,605	Preferred	stock,	authorized	shares	6,617,808		6,617,808	Preferred	shares	outstanding	750,500		740,500	(1)Amounts	represent	loans	for	which	Huntington	has	elected	the	fair	value	option.	See	Note	20.See	Notes	to	Consolidated	Financial	Statements2020	Form	10-K					105Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Income		Year	Ended	December	31,(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)202020192018Interest	and	fee	income:Loans	and	leases$	3,085	$	3,541	$	3,305	Available-for-sale	securitiesTaxable	237		295		279	Tax-exempt	61		83		97	Held-to-maturity	securities-taxable	215		218		211	Other	securities-taxable	6		16		25	Other	interest	income		43		48		32	Total	interest	income	3,647		4,201		3,949	Interest	expenseDeposits	197		585		391	Short-term	borrowings	13		54		48	Long-term	debt	213		349		321	Total	interest	expense	423		988		760	Net	interest	income	3,224		3,213		3,189	Provision	for	credit	losses	1,048		287		235	Net	interest	income	after	provision	for	credit	losses	2,176		2,926		2,954	Mortgage	banking	income	366		167		108	Service	charges	on	deposit	accounts		301		372		364	Card	and	payment	processing	income	248		246		224	Trust	and	investment	management	services	189		178		171	Capital	markets	fees	125		123		108	Insurance	income	97		88		82	Bank	owned	life	insurance	income	64		66		67	Gain	on	sale	of	loans	42		55		55	Net	(losses)	gains	on	sales	of	securities	(1)		(24)		(21)	Other	noninterest	income	160		183		163	Total	noninterest	income	1,591		1,454		1,321	Personnel	costs	1,692		1,654		1,559	Outside	data	processing	and	other	services	384		346		294	Equipment	180		163		164	Net	occupancy	158		159		184	Professional	services	55		54		60	Amortization	of	intangibles	41		49		53	Marketing	38		37		53	Deposit	and	other	insurance	expense	32		34		63	Other	noninterest	expense	215		225		217	Total	noninterest	expense	2,795		2,721		2,647	Income	before	income	taxes	972		1,659		1,628	Provision	for	income	taxes	155		248		235	Net	income	817		1,411		1,393	Dividends	on	preferred	shares	100		74		70	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares—basic	1,017,117		1,038,840		1,081,542	Average	common	shares—diluted	1,032,683		1,056,079		1,105,985	Per	common	share:Net	income—basic$	0.71	$	1.29	$	1.22	Net	income—diluted	0.69		1.27		1.20	See	Notes	to	Consolidated	Financial	Statements106					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Comprehensive	Income		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income,	net	of	tax:Total	unrealized	gains	(losses)	on	available-for-sale	securities	216		335		(84)	Change	in	fair	value	related	to	cash	flow	hedges	234		23		—	Change	in	accumulated	unrealized	gains	(losses)	for	pension	and	other	post-retirement	obligations	(2)		(5)		4	Other	comprehensive	income	(loss),	net	of	tax	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	See	Notes	to	Consolidated	Financial	Statements	2020	Form	10-K					107Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Income		Year	Ended	December	31,(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)202020192018Interest	and	fee	income:Loans	and	leases$	3,085	$	3,541	$	3,305	Available-for-sale	securitiesTaxable	237		295		279	Tax-exempt	61		83		97	Held-to-maturity	securities-taxable	215		218		211	Other	securities-taxable	6		16		25	Other	interest	income		43		48		32	Total	interest	income	3,647		4,201		3,949	Interest	expenseDeposits	197		585		391	Short-term	borrowings	13		54		48	Long-term	debt	213		349		321	Total	interest	expense	423		988		760	Net	interest	income	3,224		3,213		3,189	Provision	for	credit	losses	1,048		287		235	Net	interest	income	after	provision	for	credit	losses	2,176		2,926		2,954	Mortgage	banking	income	366		167		108	Service	charges	on	deposit	accounts		301		372		364	Card	and	payment	processing	income	248		246		224	Trust	and	investment	management	services	189		178		171	Capital	markets	fees	125		123		108	Insurance	income	97		88		82	Bank	owned	life	insurance	income	64		66		67	Gain	on	sale	of	loans	42		55		55	Net	(losses)	gains	on	sales	of	securities	(1)		(24)		(21)	Other	noninterest	income	160		183		163	Total	noninterest	income	1,591		1,454		1,321	Personnel	costs	1,692		1,654		1,559	Outside	data	processing	and	other	services	384		346		294	Equipment	180		163		164	Net	occupancy	158		159		184	Professional	services	55		54		60	Amortization	of	intangibles	41		49		53	Marketing	38		37		53	Deposit	and	other	insurance	expense	32		34		63	Other	noninterest	expense	215		225		217	Total	noninterest	expense	2,795		2,721		2,647	Income	before	income	taxes	972		1,659		1,628	Provision	for	income	taxes	155		248		235	Net	income	817		1,411		1,393	Dividends	on	preferred	shares	100		74		70	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares—basic	1,017,117		1,038,840		1,081,542	Average	common	shares—diluted	1,032,683		1,056,079		1,105,985	Per	common	share:Net	income—basic$	0.71	$	1.29	$	1.22	Net	income—diluted	0.69		1.27		1.20	See	Notes	to	Consolidated	Financial	Statements106					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Comprehensive	Income		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income,	net	of	tax:Total	unrealized	gains	(losses)	on	available-for-sale	securities	216		335		(84)	Change	in	fair	value	related	to	cash	flow	hedges	234		23		—	Change	in	accumulated	unrealized	gains	(losses)	for	pension	and	other	post-retirement	obligations	(2)		(5)		4	Other	comprehensive	income	(loss),	net	of	tax	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	See	Notes	to	Consolidated	Financial	Statements	2020	Form	10-K					107Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Income		Year	Ended	December	31,(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)202020192018Interest	and	fee	income:Loans	and	leases$	3,085	$	3,541	$	3,305	Available-for-sale	securitiesTaxable	237		295		279	Tax-exempt	61		83		97	Held-to-maturity	securities-taxable	215		218		211	Other	securities-taxable	6		16		25	Other	interest	income		43		48		32	Total	interest	income	3,647		4,201		3,949	Interest	expenseDeposits	197		585		391	Short-term	borrowings	13		54		48	Long-term	debt	213		349		321	Total	interest	expense	423		988		760	Net	interest	income	3,224		3,213		3,189	Provision	for	credit	losses	1,048		287		235	Net	interest	income	after	provision	for	credit	losses	2,176		2,926		2,954	Mortgage	banking	income	366		167		108	Service	charges	on	deposit	accounts		301		372		364	Card	and	payment	processing	income	248		246		224	Trust	and	investment	management	services	189		178		171	Capital	markets	fees	125		123		108	Insurance	income	97		88		82	Bank	owned	life	insurance	income	64		66		67	Gain	on	sale	of	loans	42		55		55	Net	(losses)	gains	on	sales	of	securities	(1)		(24)		(21)	Other	noninterest	income	160		183		163	Total	noninterest	income	1,591		1,454		1,321	Personnel	costs	1,692		1,654		1,559	Outside	data	processing	and	other	services	384		346		294	Equipment	180		163		164	Net	occupancy	158		159		184	Professional	services	55		54		60	Amortization	of	intangibles	41		49		53	Marketing	38		37		53	Deposit	and	other	insurance	expense	32		34		63	Other	noninterest	expense	215		225		217	Total	noninterest	expense	2,795		2,721		2,647	Income	before	income	taxes	972		1,659		1,628	Provision	for	income	taxes	155		248		235	Net	income	817		1,411		1,393	Dividends	on	preferred	shares	100		74		70	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares—basic	1,017,117		1,038,840		1,081,542	Average	common	shares—diluted	1,032,683		1,056,079		1,105,985	Per	common	share:Net	income—basic$	0.71	$	1.29	$	1.22	Net	income—diluted	0.69		1.27		1.20	See	Notes	to	Consolidated	Financial	Statements106					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Comprehensive	Income		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income,	net	of	tax:Total	unrealized	gains	(losses)	on	available-for-sale	securities	216		335		(84)	Change	in	fair	value	related	to	cash	flow	hedges	234		23		—	Change	in	accumulated	unrealized	gains	(losses)	for	pension	and	other	post-retirement	obligations	(2)		(5)		4	Other	comprehensive	income	(loss),	net	of	tax	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	See	Notes	to	Consolidated	Financial	Statements	2020	Form	10-K					107Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Income		Year	Ended	December	31,(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)202020192018Interest	and	fee	income:Loans	and	leases$	3,085	$	3,541	$	3,305	Available-for-sale	securitiesTaxable	237		295		279	Tax-exempt	61		83		97	Held-to-maturity	securities-taxable	215		218		211	Other	securities-taxable	6		16		25	Other	interest	income		43		48		32	Total	interest	income	3,647		4,201		3,949	Interest	expenseDeposits	197		585		391	Short-term	borrowings	13		54		48	Long-term	debt	213		349		321	Total	interest	expense	423		988		760	Net	interest	income	3,224		3,213		3,189	Provision	for	credit	losses	1,048		287		235	Net	interest	income	after	provision	for	credit	losses	2,176		2,926		2,954	Mortgage	banking	income	366		167		108	Service	charges	on	deposit	accounts		301		372		364	Card	and	payment	processing	income	248		246		224	Trust	and	investment	management	services	189		178		171	Capital	markets	fees	125		123		108	Insurance	income	97		88		82	Bank	owned	life	insurance	income	64		66		67	Gain	on	sale	of	loans	42		55		55	Net	(losses)	gains	on	sales	of	securities	(1)		(24)		(21)	Other	noninterest	income	160		183		163	Total	noninterest	income	1,591		1,454		1,321	Personnel	costs	1,692		1,654		1,559	Outside	data	processing	and	other	services	384		346		294	Equipment	180		163		164	Net	occupancy	158		159		184	Professional	services	55		54		60	Amortization	of	intangibles	41		49		53	Marketing	38		37		53	Deposit	and	other	insurance	expense	32		34		63	Other	noninterest	expense	215		225		217	Total	noninterest	expense	2,795		2,721		2,647	Income	before	income	taxes	972		1,659		1,628	Provision	for	income	taxes	155		248		235	Net	income	817		1,411		1,393	Dividends	on	preferred	shares	100		74		70	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares—basic	1,017,117		1,038,840		1,081,542	Average	common	shares—diluted	1,032,683		1,056,079		1,105,985	Per	common	share:Net	income—basic$	0.71	$	1.29	$	1.22	Net	income—diluted	0.69		1.27		1.20	See	Notes	to	Consolidated	Financial	Statements106					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Comprehensive	Income		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income,	net	of	tax:Total	unrealized	gains	(losses)	on	available-for-sale	securities	216		335		(84)	Change	in	fair	value	related	to	cash	flow	hedges	234		23		—	Change	in	accumulated	unrealized	gains	(losses)	for	pension	and	other	post-retirement	obligations	(2)		(5)		4	Other	comprehensive	income	(loss),	net	of	tax	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	See	Notes	to	Consolidated	Financial	Statements	2020	Form	10-K					107Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Changes	in	Shareholders’	Equity	AccumulatedPreferred	StockOther(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)Common	StockCapitalTreasury	StockComprehensiveRetainedAmountSharesAmountSurplusSharesAmountGain	(Loss)EarningsTotalYear	Ended	December	31,	2020Balance,	beginning	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795	Cumulative-effect	of	change	in	accounting	principle		(ASU	2016-13),	net	of	tax	(306)		(306)	Net	income	817		817	Other	comprehensive	income	(loss)	448		448	Net	proceeds	from	issuance	of	Preferred	Stock	988		988	Repurchases	of	common	stock	(7,504)		—		(92)		(92)	Cash	dividends	declared:Common	($0.60	per	share)	(621)		(621)	Preferred	(100)		(100)	Recognition	of	the	fair	value	of	share-based	compensation	77		77	Other	share-based	compensation	activity	5,372		—		(9)		—		(9)	Other	(151)		—		(1)		(525)		(3)		—		(4)	Balance,	end	of	year$	2,191		1,022,258	$	10	$	8,781		(5,062)	$	(59)	$	192	$	1,878	$	12,993	Year	Ended	December	31,	2019Balance,	beginning	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	Net	income	1,411		1,411	Other	comprehensive	income	(loss)	353		353	Repurchases	of	common	stock	(31,494)		(1)		(440)		(441)	Cash	dividends	declared:Common	($0.58	per	share)	(611)		(611)	Preferred	(74)		(74)	Recognition	of	the	fair	value	of	share-based	compensation	83		83	Other	share-based	compensation	activity	5,451		—		(18)		(18)	Other	—		—		—		(720)		(11)		1		(10)	Balance,	end	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795		Year	Ended	December	31,	2018Balance,	beginning	of	year$	1,071		1,075,295	$	11	$	9,707		(3,268)	$	(35)	$	(528)	$	588	$	10,814	Cumulative-effect	of	change		in	accounting	principle		(ASU	2016-01),	net	of	tax	(1)		1		—	Net	income	1,393		1,393	Other	comprehensive	income	(loss)	(80)		(80)	Net	proceeds	from	issuance	of	Preferred	Series	E	Stock495	495	Repurchases	of	common	stock	(61,644)		—		(939)		(939)	Cash	dividends	declared:Common	($0.50	per	share)	(541)		(541)	Preferred	(70)		(70)	Conversion	of	Preferred	Series	A	Stock	to	Common	Stock	(363)		30,330		363		—	Recognition	of	the	fair	value	of	share-based	compensation	78		78	Other	share-based	compensation	activity	6,603		—		(31)		(10)		(41)	Other	—		—		3		(549)		(10)		—		(7)	Balance,	end	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	See	Notes	to	Consolidated	Financial	Statements108					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Cash	Flows		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	(used	in)	operating	activities:Provision	for	credit	losses	1,048		287		235	Depreciation	and	amortization	367		386		493	Share-based	compensation	expense	77		83		78	Deferred	income	tax	expense	(93)		23		63	Net	change	in:Trading	account	securities	37		(32)		(11)	Loans	held	for	sale	(534)		(214)		(301)	Other	assets	(1,077)		(593)		(235)	Other	liabilities	683		194		22	Other,	net	(2)		29		(11)	Net	cash	provided	by	(used	in)	operating	activities	1,323		1,574		1,726	Investing	activitiesChange	in	interest	bearing	deposits	in	banks	(81)		(112)		90	Cash	paid	for	acquisition	of	a	business,	net	of	cash	received	—		—		(15)	Proceeds	from:Maturities	and	calls	of	available-for-sale	securities	5,697		2,124		2,109	Maturities	and	calls	of	held-to-maturity	securities	3,042		1,021		743	Sales	of	available-for-sale	securities	392		3,903		1,419	Purchases	of	available-for-sale	securities	(11,104)		(6,036)		(2,485)	Purchases	of	held-to-maturity	securities	—		(1,519)		(338)	Net	proceeds	from	sales	of	portfolio	loans	1,113		1,049		697	Principal	payments	received	from	finance	leases	704		714		—	Net	loan	and	lease	activity,	excluding	sales	and	purchases	(6,844)		(2,149)		(5,333)	Purchases	of	premises	and	equipment	(119)		(107)		(110)	Purchases	of	loans	and	leases	(1,506)		(445)		(542)	Net	cash	paid	for	branch	disposition	—		(548)		—	Other,	net	67		228		102	Net	cash	provided	by	(used	in)	investing	activities	(8,639)		(1,877)		(3,663)	Financing	activitiesIncrease	(decrease)	in	deposits	16,601		(1,702)		7,733	(Decrease)	Increase	in	short-term	borrowings	(2,373)		586		(3,025)	Net	proceeds	from	issuance	of	long-term	debt	1,386		1,796		2,229	Maturity/redemption	of	long-term	debt	(3,052)		(743)		(2,798)	Dividends	paid	on	preferred	stock	(84)		(74)		(70)	Dividends	paid	on	common	stock	(614)		(597)		(514)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Payments	related	to	tax-withholding	for	share	based	compensation	awards	(20)		(26)		(27)	Other,	net	1		2		5	Net	cash	provided	by	(used	for)	financing	activities	12,741		(1,199)		3,089	Increase	(decrease)	in	cash	and	cash	equivalents	5,425		(1,502)		1,152	Cash	and	cash	equivalents	at	beginning	of	period	1,170		2,672		1,520	Cash	and	cash	equivalents	at	end	of	period$	6,595	$	1,170	$	2,672	2020	Form	10-K					109Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Changes	in	Shareholders’	Equity	AccumulatedPreferred	StockOther(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)Common	StockCapitalTreasury	StockComprehensiveRetainedAmountSharesAmountSurplusSharesAmountGain	(Loss)EarningsTotalYear	Ended	December	31,	2020Balance,	beginning	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795	Cumulative-effect	of	change	in	accounting	principle		(ASU	2016-13),	net	of	tax	(306)		(306)	Net	income	817		817	Other	comprehensive	income	(loss)	448		448	Net	proceeds	from	issuance	of	Preferred	Stock	988		988	Repurchases	of	common	stock	(7,504)		—		(92)		(92)	Cash	dividends	declared:Common	($0.60	per	share)	(621)		(621)	Preferred	(100)		(100)	Recognition	of	the	fair	value	of	share-based	compensation	77		77	Other	share-based	compensation	activity	5,372		—		(9)		—		(9)	Other	(151)		—		(1)		(525)		(3)		—		(4)	Balance,	end	of	year$	2,191		1,022,258	$	10	$	8,781		(5,062)	$	(59)	$	192	$	1,878	$	12,993	Year	Ended	December	31,	2019Balance,	beginning	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	Net	income	1,411		1,411	Other	comprehensive	income	(loss)	353		353	Repurchases	of	common	stock	(31,494)		(1)		(440)		(441)	Cash	dividends	declared:Common	($0.58	per	share)	(611)		(611)	Preferred	(74)		(74)	Recognition	of	the	fair	value	of	share-based	compensation	83		83	Other	share-based	compensation	activity	5,451		—		(18)		(18)	Other	—		—		—		(720)		(11)		1		(10)	Balance,	end	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795		Year	Ended	December	31,	2018Balance,	beginning	of	year$	1,071		1,075,295	$	11	$	9,707		(3,268)	$	(35)	$	(528)	$	588	$	10,814	Cumulative-effect	of	change		in	accounting	principle		(ASU	2016-01),	net	of	tax	(1)		1		—	Net	income	1,393		1,393	Other	comprehensive	income	(loss)	(80)		(80)	Net	proceeds	from	issuance	of	Preferred	Series	E	Stock495	495	Repurchases	of	common	stock	(61,644)		—		(939)		(939)	Cash	dividends	declared:Common	($0.50	per	share)	(541)		(541)	Preferred	(70)		(70)	Conversion	of	Preferred	Series	A	Stock	to	Common	Stock	(363)		30,330		363		—	Recognition	of	the	fair	value	of	share-based	compensation	78		78	Other	share-based	compensation	activity	6,603		—		(31)		(10)		(41)	Other	—		—		3		(549)		(10)		—		(7)	Balance,	end	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	See	Notes	to	Consolidated	Financial	Statements108					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Cash	Flows		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	(used	in)	operating	activities:Provision	for	credit	losses	1,048		287		235	Depreciation	and	amortization	367		386		493	Share-based	compensation	expense	77		83		78	Deferred	income	tax	expense	(93)		23		63	Net	change	in:Trading	account	securities	37		(32)		(11)	Loans	held	for	sale	(534)		(214)		(301)	Other	assets	(1,077)		(593)		(235)	Other	liabilities	683		194		22	Other,	net	(2)		29		(11)	Net	cash	provided	by	(used	in)	operating	activities	1,323		1,574		1,726	Investing	activitiesChange	in	interest	bearing	deposits	in	banks	(81)		(112)		90	Cash	paid	for	acquisition	of	a	business,	net	of	cash	received	—		—		(15)	Proceeds	from:Maturities	and	calls	of	available-for-sale	securities	5,697		2,124		2,109	Maturities	and	calls	of	held-to-maturity	securities	3,042		1,021		743	Sales	of	available-for-sale	securities	392		3,903		1,419	Purchases	of	available-for-sale	securities	(11,104)		(6,036)		(2,485)	Purchases	of	held-to-maturity	securities	—		(1,519)		(338)	Net	proceeds	from	sales	of	portfolio	loans	1,113		1,049		697	Principal	payments	received	from	finance	leases	704		714		—	Net	loan	and	lease	activity,	excluding	sales	and	purchases	(6,844)		(2,149)		(5,333)	Purchases	of	premises	and	equipment	(119)		(107)		(110)	Purchases	of	loans	and	leases	(1,506)		(445)		(542)	Net	cash	paid	for	branch	disposition	—		(548)		—	Other,	net	67		228		102	Net	cash	provided	by	(used	in)	investing	activities	(8,639)		(1,877)		(3,663)	Financing	activitiesIncrease	(decrease)	in	deposits	16,601		(1,702)		7,733	(Decrease)	Increase	in	short-term	borrowings	(2,373)		586		(3,025)	Net	proceeds	from	issuance	of	long-term	debt	1,386		1,796		2,229	Maturity/redemption	of	long-term	debt	(3,052)		(743)		(2,798)	Dividends	paid	on	preferred	stock	(84)		(74)		(70)	Dividends	paid	on	common	stock	(614)		(597)		(514)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Payments	related	to	tax-withholding	for	share	based	compensation	awards	(20)		(26)		(27)	Other,	net	1		2		5	Net	cash	provided	by	(used	for)	financing	activities	12,741		(1,199)		3,089	Increase	(decrease)	in	cash	and	cash	equivalents	5,425		(1,502)		1,152	Cash	and	cash	equivalents	at	beginning	of	period	1,170		2,672		1,520	Cash	and	cash	equivalents	at	end	of	period$	6,595	$	1,170	$	2,672	2020	Form	10-K					109Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Changes	in	Shareholders’	Equity	AccumulatedPreferred	StockOther(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)Common	StockCapitalTreasury	StockComprehensiveRetainedAmountSharesAmountSurplusSharesAmountGain	(Loss)EarningsTotalYear	Ended	December	31,	2020Balance,	beginning	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795	Cumulative-effect	of	change	in	accounting	principle		(ASU	2016-13),	net	of	tax	(306)		(306)	Net	income	817		817	Other	comprehensive	income	(loss)	448		448	Net	proceeds	from	issuance	of	Preferred	Stock	988		988	Repurchases	of	common	stock	(7,504)		—		(92)		(92)	Cash	dividends	declared:Common	($0.60	per	share)	(621)		(621)	Preferred	(100)		(100)	Recognition	of	the	fair	value	of	share-based	compensation	77		77	Other	share-based	compensation	activity	5,372		—		(9)		—		(9)	Other	(151)		—		(1)		(525)		(3)		—		(4)	Balance,	end	of	year$	2,191		1,022,258	$	10	$	8,781		(5,062)	$	(59)	$	192	$	1,878	$	12,993	Year	Ended	December	31,	2019Balance,	beginning	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	Net	income	1,411		1,411	Other	comprehensive	income	(loss)	353		353	Repurchases	of	common	stock	(31,494)		(1)		(440)		(441)	Cash	dividends	declared:Common	($0.58	per	share)	(611)		(611)	Preferred	(74)		(74)	Recognition	of	the	fair	value	of	share-based	compensation	83		83	Other	share-based	compensation	activity	5,451		—		(18)		(18)	Other	—		—		—		(720)		(11)		1		(10)	Balance,	end	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795		Year	Ended	December	31,	2018Balance,	beginning	of	year$	1,071		1,075,295	$	11	$	9,707		(3,268)	$	(35)	$	(528)	$	588	$	10,814	Cumulative-effect	of	change		in	accounting	principle		(ASU	2016-01),	net	of	tax	(1)		1		—	Net	income	1,393		1,393	Other	comprehensive	income	(loss)	(80)		(80)	Net	proceeds	from	issuance	of	Preferred	Series	E	Stock495	495	Repurchases	of	common	stock	(61,644)		—		(939)		(939)	Cash	dividends	declared:Common	($0.50	per	share)	(541)		(541)	Preferred	(70)		(70)	Conversion	of	Preferred	Series	A	Stock	to	Common	Stock	(363)		30,330		363		—	Recognition	of	the	fair	value	of	share-based	compensation	78		78	Other	share-based	compensation	activity	6,603		—		(31)		(10)		(41)	Other	—		—		3		(549)		(10)		—		(7)	Balance,	end	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	See	Notes	to	Consolidated	Financial	Statements108					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Cash	Flows		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	(used	in)	operating	activities:Provision	for	credit	losses	1,048		287		235	Depreciation	and	amortization	367		386		493	Share-based	compensation	expense	77		83		78	Deferred	income	tax	expense	(93)		23		63	Net	change	in:Trading	account	securities	37		(32)		(11)	Loans	held	for	sale	(534)		(214)		(301)	Other	assets	(1,077)		(593)		(235)	Other	liabilities	683		194		22	Other,	net	(2)		29		(11)	Net	cash	provided	by	(used	in)	operating	activities	1,323		1,574		1,726	Investing	activitiesChange	in	interest	bearing	deposits	in	banks	(81)		(112)		90	Cash	paid	for	acquisition	of	a	business,	net	of	cash	received	—		—		(15)	Proceeds	from:Maturities	and	calls	of	available-for-sale	securities	5,697		2,124		2,109	Maturities	and	calls	of	held-to-maturity	securities	3,042		1,021		743	Sales	of	available-for-sale	securities	392		3,903		1,419	Purchases	of	available-for-sale	securities	(11,104)		(6,036)		(2,485)	Purchases	of	held-to-maturity	securities	—		(1,519)		(338)	Net	proceeds	from	sales	of	portfolio	loans	1,113		1,049		697	Principal	payments	received	from	finance	leases	704		714		—	Net	loan	and	lease	activity,	excluding	sales	and	purchases	(6,844)		(2,149)		(5,333)	Purchases	of	premises	and	equipment	(119)		(107)		(110)	Purchases	of	loans	and	leases	(1,506)		(445)		(542)	Net	cash	paid	for	branch	disposition	—		(548)		—	Other,	net	67		228		102	Net	cash	provided	by	(used	in)	investing	activities	(8,639)		(1,877)		(3,663)	Financing	activitiesIncrease	(decrease)	in	deposits	16,601		(1,702)		7,733	(Decrease)	Increase	in	short-term	borrowings	(2,373)		586		(3,025)	Net	proceeds	from	issuance	of	long-term	debt	1,386		1,796		2,229	Maturity/redemption	of	long-term	debt	(3,052)		(743)		(2,798)	Dividends	paid	on	preferred	stock	(84)		(74)		(70)	Dividends	paid	on	common	stock	(614)		(597)		(514)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Payments	related	to	tax-withholding	for	share	based	compensation	awards	(20)		(26)		(27)	Other,	net	1		2		5	Net	cash	provided	by	(used	for)	financing	activities	12,741		(1,199)		3,089	Increase	(decrease)	in	cash	and	cash	equivalents	5,425		(1,502)		1,152	Cash	and	cash	equivalents	at	beginning	of	period	1,170		2,672		1,520	Cash	and	cash	equivalents	at	end	of	period$	6,595	$	1,170	$	2,672	2020	Form	10-K					109Huntington	Bancshares	IncorporatedConsolidated	Statements	of	Changes	in	Shareholders’	Equity	AccumulatedPreferred	StockOther(dollar	amounts	in	millions,	except	per	share	data,	share	amounts	in	thousands)Common	StockCapitalTreasury	StockComprehensiveRetainedAmountSharesAmountSurplusSharesAmountGain	(Loss)EarningsTotalYear	Ended	December	31,	2020Balance,	beginning	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795	Cumulative-effect	of	change	in	accounting	principle		(ASU	2016-13),	net	of	tax	(306)		(306)	Net	income	817		817	Other	comprehensive	income	(loss)	448		448	Net	proceeds	from	issuance	of	Preferred	Stock	988		988	Repurchases	of	common	stock	(7,504)		—		(92)		(92)	Cash	dividends	declared:Common	($0.60	per	share)	(621)		(621)	Preferred	(100)		(100)	Recognition	of	the	fair	value	of	share-based	compensation	77		77	Other	share-based	compensation	activity	5,372		—		(9)		—		(9)	Other	(151)		—		(1)		(525)		(3)		—		(4)	Balance,	end	of	year$	2,191		1,022,258	$	10	$	8,781		(5,062)	$	(59)	$	192	$	1,878	$	12,993	Year	Ended	December	31,	2019Balance,	beginning	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	Net	income	1,411		1,411	Other	comprehensive	income	(loss)	353		353	Repurchases	of	common	stock	(31,494)		(1)		(440)		(441)	Cash	dividends	declared:Common	($0.58	per	share)	(611)		(611)	Preferred	(74)		(74)	Recognition	of	the	fair	value	of	share-based	compensation	83		83	Other	share-based	compensation	activity	5,451		—		(18)		(18)	Other	—		—		—		(720)		(11)		1		(10)	Balance,	end	of	year$	1,203		1,024,541	$	10	$	8,806		(4,537)	$	(56)	$	(256)	$	2,088	$	11,795		Year	Ended	December	31,	2018Balance,	beginning	of	year$	1,071		1,075,295	$	11	$	9,707		(3,268)	$	(35)	$	(528)	$	588	$	10,814	Cumulative-effect	of	change		in	accounting	principle		(ASU	2016-01),	net	of	tax	(1)		1		—	Net	income	1,393		1,393	Other	comprehensive	income	(loss)	(80)		(80)	Net	proceeds	from	issuance	of	Preferred	Series	E	Stock495	495	Repurchases	of	common	stock	(61,644)		—		(939)		(939)	Cash	dividends	declared:Common	($0.50	per	share)	(541)		(541)	Preferred	(70)		(70)	Conversion	of	Preferred	Series	A	Stock	to	Common	Stock	(363)		30,330		363		—	Recognition	of	the	fair	value	of	share-based	compensation	78		78	Other	share-based	compensation	activity	6,603		—		(31)		(10)		(41)	Other	—		—		3		(549)		(10)		—		(7)	Balance,	end	of	year$	1,203		1,050,584	$	11	$	9,181		(3,817)	$	(45)	$	(609)	$	1,361	$	11,102	See	Notes	to	Consolidated	Financial	Statements108					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedConsolidated	Statements	of	Cash	Flows		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	(used	in)	operating	activities:Provision	for	credit	losses	1,048		287		235	Depreciation	and	amortization	367		386		493	Share-based	compensation	expense	77		83		78	Deferred	income	tax	expense	(93)		23		63	Net	change	in:Trading	account	securities	37		(32)		(11)	Loans	held	for	sale	(534)		(214)		(301)	Other	assets	(1,077)		(593)		(235)	Other	liabilities	683		194		22	Other,	net	(2)		29		(11)	Net	cash	provided	by	(used	in)	operating	activities	1,323		1,574		1,726	Investing	activitiesChange	in	interest	bearing	deposits	in	banks	(81)		(112)		90	Cash	paid	for	acquisition	of	a	business,	net	of	cash	received	—		—		(15)	Proceeds	from:Maturities	and	calls	of	available-for-sale	securities	5,697		2,124		2,109	Maturities	and	calls	of	held-to-maturity	securities	3,042		1,021		743	Sales	of	available-for-sale	securities	392		3,903		1,419	Purchases	of	available-for-sale	securities	(11,104)		(6,036)		(2,485)	Purchases	of	held-to-maturity	securities	—		(1,519)		(338)	Net	proceeds	from	sales	of	portfolio	loans	1,113		1,049		697	Principal	payments	received	from	finance	leases	704		714		—	Net	loan	and	lease	activity,	excluding	sales	and	purchases	(6,844)		(2,149)		(5,333)	Purchases	of	premises	and	equipment	(119)		(107)		(110)	Purchases	of	loans	and	leases	(1,506)		(445)		(542)	Net	cash	paid	for	branch	disposition	—		(548)		—	Other,	net	67		228		102	Net	cash	provided	by	(used	in)	investing	activities	(8,639)		(1,877)		(3,663)	Financing	activitiesIncrease	(decrease)	in	deposits	16,601		(1,702)		7,733	(Decrease)	Increase	in	short-term	borrowings	(2,373)		586		(3,025)	Net	proceeds	from	issuance	of	long-term	debt	1,386		1,796		2,229	Maturity/redemption	of	long-term	debt	(3,052)		(743)		(2,798)	Dividends	paid	on	preferred	stock	(84)		(74)		(70)	Dividends	paid	on	common	stock	(614)		(597)		(514)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Payments	related	to	tax-withholding	for	share	based	compensation	awards	(20)		(26)		(27)	Other,	net	1		2		5	Net	cash	provided	by	(used	for)	financing	activities	12,741		(1,199)		3,089	Increase	(decrease)	in	cash	and	cash	equivalents	5,425		(1,502)		1,152	Cash	and	cash	equivalents	at	beginning	of	period	1,170		2,672		1,520	Cash	and	cash	equivalents	at	end	of	period$	6,595	$	1,170	$	2,672	2020	Form	10-K					109Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Supplemental	disclosures:Interest	paid$	453	$	989	$	742	Income	taxes	paid	(refunded)	81		111		(52)	Non-cash	activities:Loans	transferred	to	held-for-sale	from	portfolio	1,139		963		818	Loans	transferred	to	portfolio	from	held-for-sale	53		19		51	Transfer	of	securities	from	held-to-maturity	to	available-for-sale	—		—		2,833	Transfer	of	securities	from	available-for-sale	to	held-to-maturity		2,842		—		2,707	110					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedNotes	to	Consolidated	Financial	Statements1.	SIGNIFICANT	ACCOUNTING	POLICIESNature	of	Operations	—	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	headquartered	in	Columbus,	Ohio.		Through	its	subsidiaries,	including	its	bank	subsidiary,	The	Huntington	National	Bank	(the	Bank),	Huntington	is	engaged	in	providing	full-service	commercial,	small	business,	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	vehicle	and	marine	financing,	equipment	leasing,	investment	management,	trust	services,	brokerage	services,	insurance	programs,	and	other	financial	products	and	services.		Huntington’s	banking	offices	are	located	in	Ohio,	Illinois,	Michigan,	Pennsylvania,	Indiana,	West	Virginia,	and	Kentucky.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.Basis	of	Presentation	—	The	Consolidated	Financial	Statements	include	the	accounts	of	Huntington	and	its	majority-owned	subsidiaries	and	are	presented	in	accordance	with	GAAP.		All	intercompany	transactions	and	balances	are	eliminated	in	consolidation.		Entities	in	which	Huntington	holds	a	controlling	financial	interest	are	consolidated.		For	a	voting	interest	entity,	a	controlling	financial	interest	is	generally	where	Huntington	holds,	directly	or	indirectly,	more	than	50	percent	of	the	outstanding	voting	shares.		For	a	variable	interest	entity	(VIE),	a	controlling	financial	interest	is	where	Huntington	has	the	power	to	direct	the	activities	of	an	entity	that	most	significantly	impact	the	entity’s	economic	performance	and	has	an	obligation	to	absorb	losses	or	the	right	to	receive	benefits	from	the	VIE.		For	consolidated	entities	where	Huntington	holds	less	than	a	100%	interest,	Huntington	recognizes	non-controlling	interest	(included	in	shareholders’	equity)	for	the	equity	held	by	minority	shareholders	and	non-controlling	profit	or	loss	(included	in	noninterest	expense)	for	the	portion	of	the	entity’s	earnings	attributable	to	minority	interests.		Investments	in	companies	that	are	not	consolidated	are	accounted	for	using	the	equity	method	when	Huntington	has	the	ability	to	exert	significant	influence.		Investments	in	non-marketable	equity	securities	for	which	Huntington	does	not	have	the	ability	to	exert	significant	influence	are	generally	accounted	for	using	the	cost	method	adjusted	for	impairment	and	other	changes	in	observable	prices.		Investments	in	private	investment	partnerships	that	are	accounted	for	under	the	equity	method	or	the	cost	method	are	included	in	other	assets	and	Huntington’s	earnings	in	equity	investments	are	included	in	other	noninterest	income.		Investments	accounted	for	under	the	cost	and	equity	methods	are	periodically	evaluated	for	impairment.The	preparation	of	financial	statements	in	conformity	with	GAAP	requires	management	to	make	estimates	and	assumptions	that	significantly	affect	amounts	reported	in	the	Consolidated	Financial	Statements.		Huntington	utilizes	processes	that	involve	the	use	of	significant	estimates	and	the	judgments	of	management	in	determining	the	amount	of	its	allowance	for	credit	losses,	income	taxes,	as	well	as	fair	value	measurements	of	investment	securities,	derivative	instruments,	goodwill,	other	intangible	assets,	pension	assets	and	liabilities,	short-term	borrowings,	mortgage	servicing	rights,	and	loans	held	for	sale.		As	with	any	estimate,	actual	results	could	differ	from	those	estimates.		For	statements	of	cash	flows	purposes,	cash	and	cash	equivalents	are	defined	as	the	sum	of	cash	and	due	from	banks	and	interest-bearing	deposits	at	Federal	Reserve	Bank.Resale	and	Repurchase	Agreements	—	Securities	purchased	under	agreements	to	resell	and	securities	sold	under	agreements	to	repurchase	are	treated	as	collateralized	financing	transactions	and	are	recorded	at	the	amounts	at	which	the	securities	were	acquired	or	sold	plus	accrued	interest.		The	fair	value	of	collateral	either	received	from	or	provided	to	a	third-party	is	monitored	and	additional	collateral	is	obtained	or	requested	to	be	returned	to	Huntington	in	accordance	with	the	agreement.Securities	—	Securities	purchased	with	the	intention	of	recognizing	short-term	profits	or	which	are	actively	bought	and	sold	are	classified	as	trading	account	securities	and	reported	at	fair	value.		The	unrealized	gains	or	losses	on	trading	account	securities	are	recorded	in	other	noninterest	income.	Debt	securities	purchased	that	Huntington	has	the	positive	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		Held-to-maturity	securities	are	recorded	at	amortized	cost.		All	other	debt	securities	are	classified	as	available	for	sale	2020	Form	10-K					111Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Supplemental	disclosures:Interest	paid$	453	$	989	$	742	Income	taxes	paid	(refunded)	81		111		(52)	Non-cash	activities:Loans	transferred	to	held-for-sale	from	portfolio	1,139		963		818	Loans	transferred	to	portfolio	from	held-for-sale	53		19		51	Transfer	of	securities	from	held-to-maturity	to	available-for-sale	—		—		2,833	Transfer	of	securities	from	available-for-sale	to	held-to-maturity		2,842		—		2,707	110					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedNotes	to	Consolidated	Financial	Statements1.	SIGNIFICANT	ACCOUNTING	POLICIESNature	of	Operations	—	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	headquartered	in	Columbus,	Ohio.		Through	its	subsidiaries,	including	its	bank	subsidiary,	The	Huntington	National	Bank	(the	Bank),	Huntington	is	engaged	in	providing	full-service	commercial,	small	business,	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	vehicle	and	marine	financing,	equipment	leasing,	investment	management,	trust	services,	brokerage	services,	insurance	programs,	and	other	financial	products	and	services.		Huntington’s	banking	offices	are	located	in	Ohio,	Illinois,	Michigan,	Pennsylvania,	Indiana,	West	Virginia,	and	Kentucky.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.Basis	of	Presentation	—	The	Consolidated	Financial	Statements	include	the	accounts	of	Huntington	and	its	majority-owned	subsidiaries	and	are	presented	in	accordance	with	GAAP.		All	intercompany	transactions	and	balances	are	eliminated	in	consolidation.		Entities	in	which	Huntington	holds	a	controlling	financial	interest	are	consolidated.		For	a	voting	interest	entity,	a	controlling	financial	interest	is	generally	where	Huntington	holds,	directly	or	indirectly,	more	than	50	percent	of	the	outstanding	voting	shares.		For	a	variable	interest	entity	(VIE),	a	controlling	financial	interest	is	where	Huntington	has	the	power	to	direct	the	activities	of	an	entity	that	most	significantly	impact	the	entity’s	economic	performance	and	has	an	obligation	to	absorb	losses	or	the	right	to	receive	benefits	from	the	VIE.		For	consolidated	entities	where	Huntington	holds	less	than	a	100%	interest,	Huntington	recognizes	non-controlling	interest	(included	in	shareholders’	equity)	for	the	equity	held	by	minority	shareholders	and	non-controlling	profit	or	loss	(included	in	noninterest	expense)	for	the	portion	of	the	entity’s	earnings	attributable	to	minority	interests.		Investments	in	companies	that	are	not	consolidated	are	accounted	for	using	the	equity	method	when	Huntington	has	the	ability	to	exert	significant	influence.		Investments	in	non-marketable	equity	securities	for	which	Huntington	does	not	have	the	ability	to	exert	significant	influence	are	generally	accounted	for	using	the	cost	method	adjusted	for	impairment	and	other	changes	in	observable	prices.		Investments	in	private	investment	partnerships	that	are	accounted	for	under	the	equity	method	or	the	cost	method	are	included	in	other	assets	and	Huntington’s	earnings	in	equity	investments	are	included	in	other	noninterest	income.		Investments	accounted	for	under	the	cost	and	equity	methods	are	periodically	evaluated	for	impairment.The	preparation	of	financial	statements	in	conformity	with	GAAP	requires	management	to	make	estimates	and	assumptions	that	significantly	affect	amounts	reported	in	the	Consolidated	Financial	Statements.		Huntington	utilizes	processes	that	involve	the	use	of	significant	estimates	and	the	judgments	of	management	in	determining	the	amount	of	its	allowance	for	credit	losses,	income	taxes,	as	well	as	fair	value	measurements	of	investment	securities,	derivative	instruments,	goodwill,	other	intangible	assets,	pension	assets	and	liabilities,	short-term	borrowings,	mortgage	servicing	rights,	and	loans	held	for	sale.		As	with	any	estimate,	actual	results	could	differ	from	those	estimates.		For	statements	of	cash	flows	purposes,	cash	and	cash	equivalents	are	defined	as	the	sum	of	cash	and	due	from	banks	and	interest-bearing	deposits	at	Federal	Reserve	Bank.Resale	and	Repurchase	Agreements	—	Securities	purchased	under	agreements	to	resell	and	securities	sold	under	agreements	to	repurchase	are	treated	as	collateralized	financing	transactions	and	are	recorded	at	the	amounts	at	which	the	securities	were	acquired	or	sold	plus	accrued	interest.		The	fair	value	of	collateral	either	received	from	or	provided	to	a	third-party	is	monitored	and	additional	collateral	is	obtained	or	requested	to	be	returned	to	Huntington	in	accordance	with	the	agreement.Securities	—	Securities	purchased	with	the	intention	of	recognizing	short-term	profits	or	which	are	actively	bought	and	sold	are	classified	as	trading	account	securities	and	reported	at	fair	value.		The	unrealized	gains	or	losses	on	trading	account	securities	are	recorded	in	other	noninterest	income.	Debt	securities	purchased	that	Huntington	has	the	positive	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		Held-to-maturity	securities	are	recorded	at	amortized	cost.		All	other	debt	securities	are	classified	as	available	for	sale	2020	Form	10-K					111Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Supplemental	disclosures:Interest	paid$	453	$	989	$	742	Income	taxes	paid	(refunded)	81		111		(52)	Non-cash	activities:Loans	transferred	to	held-for-sale	from	portfolio	1,139		963		818	Loans	transferred	to	portfolio	from	held-for-sale	53		19		51	Transfer	of	securities	from	held-to-maturity	to	available-for-sale	—		—		2,833	Transfer	of	securities	from	available-for-sale	to	held-to-maturity		2,842		—		2,707	110					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedNotes	to	Consolidated	Financial	Statements1.	SIGNIFICANT	ACCOUNTING	POLICIESNature	of	Operations	—	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	headquartered	in	Columbus,	Ohio.		Through	its	subsidiaries,	including	its	bank	subsidiary,	The	Huntington	National	Bank	(the	Bank),	Huntington	is	engaged	in	providing	full-service	commercial,	small	business,	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	vehicle	and	marine	financing,	equipment	leasing,	investment	management,	trust	services,	brokerage	services,	insurance	programs,	and	other	financial	products	and	services.		Huntington’s	banking	offices	are	located	in	Ohio,	Illinois,	Michigan,	Pennsylvania,	Indiana,	West	Virginia,	and	Kentucky.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.Basis	of	Presentation	—	The	Consolidated	Financial	Statements	include	the	accounts	of	Huntington	and	its	majority-owned	subsidiaries	and	are	presented	in	accordance	with	GAAP.		All	intercompany	transactions	and	balances	are	eliminated	in	consolidation.		Entities	in	which	Huntington	holds	a	controlling	financial	interest	are	consolidated.		For	a	voting	interest	entity,	a	controlling	financial	interest	is	generally	where	Huntington	holds,	directly	or	indirectly,	more	than	50	percent	of	the	outstanding	voting	shares.		For	a	variable	interest	entity	(VIE),	a	controlling	financial	interest	is	where	Huntington	has	the	power	to	direct	the	activities	of	an	entity	that	most	significantly	impact	the	entity’s	economic	performance	and	has	an	obligation	to	absorb	losses	or	the	right	to	receive	benefits	from	the	VIE.		For	consolidated	entities	where	Huntington	holds	less	than	a	100%	interest,	Huntington	recognizes	non-controlling	interest	(included	in	shareholders’	equity)	for	the	equity	held	by	minority	shareholders	and	non-controlling	profit	or	loss	(included	in	noninterest	expense)	for	the	portion	of	the	entity’s	earnings	attributable	to	minority	interests.		Investments	in	companies	that	are	not	consolidated	are	accounted	for	using	the	equity	method	when	Huntington	has	the	ability	to	exert	significant	influence.		Investments	in	non-marketable	equity	securities	for	which	Huntington	does	not	have	the	ability	to	exert	significant	influence	are	generally	accounted	for	using	the	cost	method	adjusted	for	impairment	and	other	changes	in	observable	prices.		Investments	in	private	investment	partnerships	that	are	accounted	for	under	the	equity	method	or	the	cost	method	are	included	in	other	assets	and	Huntington’s	earnings	in	equity	investments	are	included	in	other	noninterest	income.		Investments	accounted	for	under	the	cost	and	equity	methods	are	periodically	evaluated	for	impairment.The	preparation	of	financial	statements	in	conformity	with	GAAP	requires	management	to	make	estimates	and	assumptions	that	significantly	affect	amounts	reported	in	the	Consolidated	Financial	Statements.		Huntington	utilizes	processes	that	involve	the	use	of	significant	estimates	and	the	judgments	of	management	in	determining	the	amount	of	its	allowance	for	credit	losses,	income	taxes,	as	well	as	fair	value	measurements	of	investment	securities,	derivative	instruments,	goodwill,	other	intangible	assets,	pension	assets	and	liabilities,	short-term	borrowings,	mortgage	servicing	rights,	and	loans	held	for	sale.		As	with	any	estimate,	actual	results	could	differ	from	those	estimates.		For	statements	of	cash	flows	purposes,	cash	and	cash	equivalents	are	defined	as	the	sum	of	cash	and	due	from	banks	and	interest-bearing	deposits	at	Federal	Reserve	Bank.Resale	and	Repurchase	Agreements	—	Securities	purchased	under	agreements	to	resell	and	securities	sold	under	agreements	to	repurchase	are	treated	as	collateralized	financing	transactions	and	are	recorded	at	the	amounts	at	which	the	securities	were	acquired	or	sold	plus	accrued	interest.		The	fair	value	of	collateral	either	received	from	or	provided	to	a	third-party	is	monitored	and	additional	collateral	is	obtained	or	requested	to	be	returned	to	Huntington	in	accordance	with	the	agreement.Securities	—	Securities	purchased	with	the	intention	of	recognizing	short-term	profits	or	which	are	actively	bought	and	sold	are	classified	as	trading	account	securities	and	reported	at	fair	value.		The	unrealized	gains	or	losses	on	trading	account	securities	are	recorded	in	other	noninterest	income.	Debt	securities	purchased	that	Huntington	has	the	positive	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		Held-to-maturity	securities	are	recorded	at	amortized	cost.		All	other	debt	securities	are	classified	as	available	for	sale	2020	Form	10-K					111Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Supplemental	disclosures:Interest	paid$	453	$	989	$	742	Income	taxes	paid	(refunded)	81		111		(52)	Non-cash	activities:Loans	transferred	to	held-for-sale	from	portfolio	1,139		963		818	Loans	transferred	to	portfolio	from	held-for-sale	53		19		51	Transfer	of	securities	from	held-to-maturity	to	available-for-sale	—		—		2,833	Transfer	of	securities	from	available-for-sale	to	held-to-maturity		2,842		—		2,707	110					Huntington	Bancshares	IncorporatedHuntington	Bancshares	IncorporatedNotes	to	Consolidated	Financial	Statements1.	SIGNIFICANT	ACCOUNTING	POLICIESNature	of	Operations	—	Huntington	Bancshares	Incorporated	(Huntington	or	the	Company)	is	a	multi-state	diversified	regional	bank	holding	company	organized	under	Maryland	law	in	1966	and	headquartered	in	Columbus,	Ohio.		Through	its	subsidiaries,	including	its	bank	subsidiary,	The	Huntington	National	Bank	(the	Bank),	Huntington	is	engaged	in	providing	full-service	commercial,	small	business,	consumer	banking	services,	mortgage	banking	services,	automobile	financing,	recreational	vehicle	and	marine	financing,	equipment	leasing,	investment	management,	trust	services,	brokerage	services,	insurance	programs,	and	other	financial	products	and	services.		Huntington’s	banking	offices	are	located	in	Ohio,	Illinois,	Michigan,	Pennsylvania,	Indiana,	West	Virginia,	and	Kentucky.		Select	financial	services	and	other	activities	are	also	conducted	in	various	other	states.		International	banking	services	are	available	through	the	headquarters	office	in	Columbus,	Ohio.Basis	of	Presentation	—	The	Consolidated	Financial	Statements	include	the	accounts	of	Huntington	and	its	majority-owned	subsidiaries	and	are	presented	in	accordance	with	GAAP.		All	intercompany	transactions	and	balances	are	eliminated	in	consolidation.		Entities	in	which	Huntington	holds	a	controlling	financial	interest	are	consolidated.		For	a	voting	interest	entity,	a	controlling	financial	interest	is	generally	where	Huntington	holds,	directly	or	indirectly,	more	than	50	percent	of	the	outstanding	voting	shares.		For	a	variable	interest	entity	(VIE),	a	controlling	financial	interest	is	where	Huntington	has	the	power	to	direct	the	activities	of	an	entity	that	most	significantly	impact	the	entity’s	economic	performance	and	has	an	obligation	to	absorb	losses	or	the	right	to	receive	benefits	from	the	VIE.		For	consolidated	entities	where	Huntington	holds	less	than	a	100%	interest,	Huntington	recognizes	non-controlling	interest	(included	in	shareholders’	equity)	for	the	equity	held	by	minority	shareholders	and	non-controlling	profit	or	loss	(included	in	noninterest	expense)	for	the	portion	of	the	entity’s	earnings	attributable	to	minority	interests.		Investments	in	companies	that	are	not	consolidated	are	accounted	for	using	the	equity	method	when	Huntington	has	the	ability	to	exert	significant	influence.		Investments	in	non-marketable	equity	securities	for	which	Huntington	does	not	have	the	ability	to	exert	significant	influence	are	generally	accounted	for	using	the	cost	method	adjusted	for	impairment	and	other	changes	in	observable	prices.		Investments	in	private	investment	partnerships	that	are	accounted	for	under	the	equity	method	or	the	cost	method	are	included	in	other	assets	and	Huntington’s	earnings	in	equity	investments	are	included	in	other	noninterest	income.		Investments	accounted	for	under	the	cost	and	equity	methods	are	periodically	evaluated	for	impairment.The	preparation	of	financial	statements	in	conformity	with	GAAP	requires	management	to	make	estimates	and	assumptions	that	significantly	affect	amounts	reported	in	the	Consolidated	Financial	Statements.		Huntington	utilizes	processes	that	involve	the	use	of	significant	estimates	and	the	judgments	of	management	in	determining	the	amount	of	its	allowance	for	credit	losses,	income	taxes,	as	well	as	fair	value	measurements	of	investment	securities,	derivative	instruments,	goodwill,	other	intangible	assets,	pension	assets	and	liabilities,	short-term	borrowings,	mortgage	servicing	rights,	and	loans	held	for	sale.		As	with	any	estimate,	actual	results	could	differ	from	those	estimates.		For	statements	of	cash	flows	purposes,	cash	and	cash	equivalents	are	defined	as	the	sum	of	cash	and	due	from	banks	and	interest-bearing	deposits	at	Federal	Reserve	Bank.Resale	and	Repurchase	Agreements	—	Securities	purchased	under	agreements	to	resell	and	securities	sold	under	agreements	to	repurchase	are	treated	as	collateralized	financing	transactions	and	are	recorded	at	the	amounts	at	which	the	securities	were	acquired	or	sold	plus	accrued	interest.		The	fair	value	of	collateral	either	received	from	or	provided	to	a	third-party	is	monitored	and	additional	collateral	is	obtained	or	requested	to	be	returned	to	Huntington	in	accordance	with	the	agreement.Securities	—	Securities	purchased	with	the	intention	of	recognizing	short-term	profits	or	which	are	actively	bought	and	sold	are	classified	as	trading	account	securities	and	reported	at	fair	value.		The	unrealized	gains	or	losses	on	trading	account	securities	are	recorded	in	other	noninterest	income.	Debt	securities	purchased	that	Huntington	has	the	positive	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		Held-to-maturity	securities	are	recorded	at	amortized	cost.		All	other	debt	securities	are	classified	as	available	for	sale	2020	Form	10-K					111securities.	Available-for-sale	securities	are	recognized	and	measured	at	fair	value	with	any	change	in	the	fair	value	
securities.	Available-for-sale	securities	are	recognized	and	measured	at	fair	value	with	any	change	in	the	fair	value	
recognized	in	other	comprehensive	income.			All	equity	securities	are	classified	as		other	securities.	
recognized	in	other	comprehensive	income.			All	equity	securities	are	classified	as		other	securities.	

Securities	transactions	are	recognized	on	the	trade	date	(the	date	the	order	to	buy	or	sell	is	executed).		The	
Securities	transactions	are	recognized	on	the	trade	date	(the	date	the	order	to	buy	or	sell	is	executed).		The	
carrying	value	plus	any	related	accumulated	OCI	balance	of	sold	securities	is	used	to	compute	realized	gains	and	
carrying	value	plus	any	related	accumulated	OCI	balance	of	sold	securities	is	used	to	compute	realized	gains	and	
losses.		Interest	on	securities,	including	amortization	of	premiums	and	accretion	of	discounts	using	the	effective	
losses.		Interest	on	securities,	including	amortization	of	premiums	and	accretion	of	discounts	using	the	effective	
interest	method	over	the	period	to	maturity,	is	included	in	interest	income.
interest	method	over	the	period	to	maturity,	is	included	in	interest	income.

Non-marketable	equity	securities	include	stock	held	for	membership	and	regulatory	purposes,	such	as	FHLB	
Non-marketable	equity	securities	include	stock	held	for	membership	and	regulatory	purposes,	such	as	FHLB	
stock	and	FRB	stock.		These	securities	are	accounted	for	at	cost,	evaluated	for	impairment,	and	are	included	in	other	
stock	and	FRB	stock.		These	securities	are	accounted	for	at	cost,	evaluated	for	impairment,	and	are	included	in	other	
securities.		Other	securities	also	include	mutual	funds	and	other	marketable	equity	securities.		These	securities	are	
securities.		Other	securities	also	include	mutual	funds	and	other	marketable	equity	securities.		These	securities	are	
carried	at	fair	value,	with	changes	in	fair	value	recognized	in	other	noninterest	income.
carried	at	fair	value,	with	changes	in	fair	value	recognized	in	other	noninterest	income.

Loans	and	Leases	—	Loans	for	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	
Loans	and	Leases	—	Loans	for	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	

until	maturity	or	payoff,	except	loans	for	which	the	fair	value	option	has	been	elected,	are	carried	at	the	principal	
until	maturity	or	payoff,	except	loans	for	which	the	fair	value	option	has	been	elected,	are	carried	at	the	principal	
amount	outstanding,	net	of	charge-offs,	unamortized	deferred	loan	origination	fees	and	costs,	premiums	and	
amount	outstanding,	net	of	charge-offs,	unamortized	deferred	loan	origination	fees	and	costs,	premiums	and	
discounts,	and	unearned	income.		Direct	financing	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	
discounts,	and	unearned	income.		Direct	financing	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	
and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	
and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	
originate	these	leases.		Interest	income	is	accrued	as	earned	using	the	interest	method.		Huntington	defers	the	fees	
originate	these	leases.		Interest	income	is	accrued	as	earned	using	the	interest	method.		Huntington	defers	the	fees	
it	receives	from	the	origination	of	loans	and	leases,	as	well	as	the	direct	costs	of	those	activities.		Huntington	also	
it	receives	from	the	origination	of	loans	and	leases,	as	well	as	the	direct	costs	of	those	activities.		Huntington	also	
acquires	loans	at	premiums	and/or	discounts	to	their	contractual	values.		Huntington	amortizes	loan	discounts,	
acquires	loans	at	premiums	and/or	discounts	to	their	contractual	values.		Huntington	amortizes	loan	discounts,	
premiums,	and	net	loan	origination	fees	and	costs	over	the	contractual	lives	of	the	related	loans	using	the	effective	
premiums,	and	net	loan	origination	fees	and	costs	over	the	contractual	lives	of	the	related	loans	using	the	effective	
interest	method.
interest	method.

Troubled	debt	restructurings	are	loans	for	which	the	original	contractual	terms	have	been	modified	to	provide	a	
Troubled	debt	restructurings	are	loans	for	which	the	original	contractual	terms	have	been	modified	to	provide	a	

concession	to	a	borrower	experiencing	financial	difficulties.		Loan	modifications	are	considered	TDRs	when	the	
concession	to	a	borrower	experiencing	financial	difficulties.		Loan	modifications	are	considered	TDRs	when	the	
concessions	provided	are	not	available	to	the	borrower	through	either	normal	channels	or	other	sources.		However,	
concessions	provided	are	not	available	to	the	borrower	through	either	normal	channels	or	other	sources.		However,	
not	all	loan	modifications	are	TDRs.		Modifications	resulting	in	troubled	debt	restructurings	may	include	changes	to	
not	all	loan	modifications	are	TDRs.		Modifications	resulting	in	troubled	debt	restructurings	may	include	changes	to	
one	or	more	terms	of	the	loan,	including	but	not	limited	to,	a	change	in	interest	rate,	an	extension	of	the	repayment	
one	or	more	terms	of	the	loan,	including	but	not	limited	to,	a	change	in	interest	rate,	an	extension	of	the	repayment	
period,	a	reduction	in	payment	amount,	and	partial	forgiveness	or	deferment	of	principal	or	accrued	interest.
period,	a	reduction	in	payment	amount,	and	partial	forgiveness	or	deferment	of	principal	or	accrued	interest.

Impairment	of	the	residual	values	of	direct	financing	leases	is	evaluated	quarterly,	with	impairment	arising	if	the	
Impairment	of	the	residual	values	of	direct	financing	leases	is	evaluated	quarterly,	with	impairment	arising	if	the	

expected	fair	value	is	less	than	the	carrying	amount.		Huntington	assesses	net	investments	in	leases	(including	
expected	fair	value	is	less	than	the	carrying	amount.		Huntington	assesses	net	investments	in	leases	(including	
residual	values)	for	impairment	and	recognizes	impairment	losses	in	accordance	with	the	impairment	guidance	for	
residual	values)	for	impairment	and	recognizes	impairment	losses	in	accordance	with	the	impairment	guidance	for	
financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	
financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	
changes	recognized	as	provision	expense.
changes	recognized	as	provision	expense.

For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	
For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	

the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	
the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	
independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	
independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	
cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	
cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	
contacts	and	are	factored	into	residual	value	estimates	where	applicable.
contacts	and	are	factored	into	residual	value	estimates	where	applicable.

Loans	Held	for	Sale	—	Loans	in	which	Huntington	does	not	have	the	intent	and	ability	to	hold	for	the	
Loans	Held	for	Sale	—	Loans	in	which	Huntington	does	not	have	the	intent	and	ability	to	hold	for	the	

foreseeable	future	are	classified	as	loans	held	for	sale.		Loans	held	for	sale	are	carried	at	(a)	the	lower	of	cost	or	fair	
foreseeable	future	are	classified	as	loans	held	for	sale.		Loans	held	for	sale	are	carried	at	(a)	the	lower	of	cost	or	fair	
value	less	costs	to	sell,	or	(b)	fair	value	where	the	fair	value	option	is	elected.		The	fair	value	option	is	generally	
value	less	costs	to	sell,	or	(b)	fair	value	where	the	fair	value	option	is	elected.		The	fair	value	option	is	generally	
elected	for	mortgage	loans	originated	with	the	intent	to	sell	to	facilitate	hedging	of	the	loans.		The	fair	value	of	such	
elected	for	mortgage	loans	originated	with	the	intent	to	sell	to	facilitate	hedging	of	the	loans.		The	fair	value	of	such	
loans	is	estimated	based	on	the	inputs	that	include	prices	of	mortgage	backed	securities	adjusted	for	other	variables	
loans	is	estimated	based	on	the	inputs	that	include	prices	of	mortgage	backed	securities	adjusted	for	other	variables	
such	as,	interest	rates,	expected	credit	defaults	and	market	discount	rates.		The	adjusted	value	reflects	the	price	we	
such	as,	interest	rates,	expected	credit	defaults	and	market	discount	rates.		The	adjusted	value	reflects	the	price	we	
expect	to	receive	from	the	sale	of	such	loans.
expect	to	receive	from	the	sale	of	such	loans.

Nonaccrual	and	Past	Due	Loans	—	Loans	are	considered	past	due	when	the	contractual	amounts	due	with	
Nonaccrual	and	Past	Due	Loans	—	Loans	are	considered	past	due	when	the	contractual	amounts	due	with	

respect	to	principal	and	interest	are	not	received	within	30	days	of	the	contractual	due	date.
respect	to	principal	and	interest	are	not	received	within	30	days	of	the	contractual	due	date.

Any	loan	in	any	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	
Any	loan	in	any	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	
collection	of	principal	or	interest	is	in	doubt.		When	a	borrower	with	debt	is	discharged	in	a	Chapter	7	bankruptcy	
collection	of	principal	or	interest	is	in	doubt.		When	a	borrower	with	debt	is	discharged	in	a	Chapter	7	bankruptcy	
and	the	debt	is	not	reaffirmed	by	the	borrower,	the	loan	is	determined	to	be	collateral	dependent	and	placed	on	
and	the	debt	is	not	reaffirmed	by	the	borrower,	the	loan	is	determined	to	be	collateral	dependent	and	placed	on	
nonaccrual	status,	unless	there	is	a	co-borrower	or	the	repayment	is	likely	to	occur	based	on	objective	evidence.
nonaccrual	status,	unless	there	is	a	co-borrower	or	the	repayment	is	likely	to	occur	based	on	objective	evidence.

All	classes	within	the	C&I	and	CRE	portfolios	are	placed	on	nonaccrual	status	at	90-days	past	due.		First-lien	

All	classes	within	the	C&I	and	CRE	portfolios	are	placed	on	nonaccrual	status	at	90-days	past	due.		First-lien	

home	equity	loans	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	

home	equity	loans	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	

on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	

on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	

nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	placed	on	non-accrual,	if	not	charged	off,	

nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	placed	on	non-accrual,	if	not	charged	off,	

when	the	loan	is	120-days	past	due.		Residential	mortgage	loans	are	placed	on	nonaccrual	status	at	150-days	past	

when	the	loan	is	120-days	past	due.		Residential	mortgage	loans	are	placed	on	nonaccrual	status	at	150-days	past	

due,	with	the	exception	of	residential	mortgages	guaranteed	by	government	agencies	which	continue	to	accrue	

due,	with	the	exception	of	residential	mortgages	guaranteed	by	government	agencies	which	continue	to	accrue	

interest	at	the	rate	guaranteed	by	the	government	agency.		

interest	at	the	rate	guaranteed	by	the	government	agency.		

For	all	classes	within	all	loan	portfolios,	when	a	loan	is	placed	on	nonaccrual	status,	any	accrued	interest	income,	

For	all	classes	within	all	loan	portfolios,	when	a	loan	is	placed	on	nonaccrual	status,	any	accrued	interest	income,	

to	the	extent	it	is	recognized	in	the	current	year,	is	reversed	and	charged	to	interest	income.

to	the	extent	it	is	recognized	in	the	current	year,	is	reversed	and	charged	to	interest	income.

For	all	classes	within	all	loan	portfolios,	cash	receipts	on	NALs	are	applied	against	principal	until	the	loan	or	lease	

For	all	classes	within	all	loan	portfolios,	cash	receipts	on	NALs	are	applied	against	principal	until	the	loan	or	lease	

has	been	collected	in	full,	including	the	charged-off	portion,	after	which	time	any	additional	cash	receipts	are	

has	been	collected	in	full,	including	the	charged-off	portion,	after	which	time	any	additional	cash	receipts	are	

recognized	as	interest	income.		However,	for	secured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy,	payments	are	

recognized	as	interest	income.		However,	for	secured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy,	payments	are	

applied	to	principal	and	interest	when	the	borrower	has	demonstrated	a	capacity	to	continue	payment	of	the	debt	

applied	to	principal	and	interest	when	the	borrower	has	demonstrated	a	capacity	to	continue	payment	of	the	debt	

and	collection	of	the	debt	is	reasonably	assured.		For	unsecured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	

and	collection	of	the	debt	is	reasonably	assured.		For	unsecured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	

where	the	carrying	value	has	been	fully	charged-off,	payments	are	recorded	as	loan	recoveries.

where	the	carrying	value	has	been	fully	charged-off,	payments	are	recorded	as	loan	recoveries.

Within	the	C&I	and	CRE	portfolios,	the	determination	of	a	borrower’s	ability	to	make	the	required	principal	and	

Within	the	C&I	and	CRE	portfolios,	the	determination	of	a	borrower’s	ability	to	make	the	required	principal	and	

interest	payments	is	based	on	an	examination	of	the	borrower’s	current	financial	statements,	industry,	management	

interest	payments	is	based	on	an	examination	of	the	borrower’s	current	financial	statements,	industry,	management	

capabilities,	and	other	qualitative	measures.		For	all	classes	within	the	consumer	loan	portfolio,	the	determination	of	

capabilities,	and	other	qualitative	measures.		For	all	classes	within	the	consumer	loan	portfolio,	the	determination	of	

a	borrower’s	ability	to	make	the	required	principal	and	interest	payments	is	based	on	multiple	factors,	including	

a	borrower’s	ability	to	make	the	required	principal	and	interest	payments	is	based	on	multiple	factors,	including	

number	of	days	past	due	and,	in	some	instances,	an	evaluation	of	the	borrower’s	financial	condition.		When,	in	

number	of	days	past	due	and,	in	some	instances,	an	evaluation	of	the	borrower’s	financial	condition.		When,	in	

management’s	judgment,	the	borrower’s	ability	to	make	required	principal	and	interest	payments	resumes	and	

management’s	judgment,	the	borrower’s	ability	to	make	required	principal	and	interest	payments	resumes	and	

collectability	is	no	longer	in	doubt,	supported	by	sustained	repayment	history,	the	loan	is	returned	to	accrual	status.		

collectability	is	no	longer	in	doubt,	supported	by	sustained	repayment	history,	the	loan	is	returned	to	accrual	status.		

For	loans	that	are	returned	to	accrual	status,	cash	receipts	are	applied	according	to	the	contractual	terms	of	the	

For	loans	that	are	returned	to	accrual	status,	cash	receipts	are	applied	according	to	the	contractual	terms	of	the	

loan.

loan.

Collateral-dependent	Loans	—	Certain	commercial	and	consumer	loans	for	which	repayment	is	expected	to	be	

Collateral-dependent	Loans	—	Certain	commercial	and	consumer	loans	for	which	repayment	is	expected	to	be	

provided	substantially	through	the	operation	or	sale	of	the	loan	collateral	are	considered	to	be	collateral-dependent.		

provided	substantially	through	the	operation	or	sale	of	the	loan	collateral	are	considered	to	be	collateral-dependent.		

Commercial	collateral-dependent	loans	are	generally	secured	by	business	assets	and/or	commercial	real	estate.		

Commercial	collateral-dependent	loans	are	generally	secured	by	business	assets	and/or	commercial	real	estate.		

Consumer	collateral-dependent	loans	are	primarily	secured	by	residential	real	estate	or	automobiles.

Consumer	collateral-dependent	loans	are	primarily	secured	by	residential	real	estate	or	automobiles.

Allowance	for	Credit	Losses	—	Huntington	maintains	allowance	for	credit	losses	on	its	loan	and	lease	portfolio,	

Allowance	for	Credit	Losses	—	Huntington	maintains	allowance	for	credit	losses	on	its	loan	and	lease	portfolio,	

held-to-maturity	securities	as	well	as	on	available-for-sale	securities.	The	allowance	for	credit	losses	on	loan	and	

held-to-maturity	securities	as	well	as	on	available-for-sale	securities.	The	allowance	for	credit	losses	on	loan	and	

lease	portfolio	and	held-to-maturity	securities	are	provided	through	an	expected	loss	methodology	referred	to	as	

lease	portfolio	and	held-to-maturity	securities	are	provided	through	an	expected	loss	methodology	referred	to	as	

current	expected	credit	loss	(“CECL”)	methodology.		The	allowance	for	credit	losses	on	AFS	securities	is	provided	

current	expected	credit	loss	(“CECL”)	methodology.		The	allowance	for	credit	losses	on	AFS	securities	is	provided	

when	a	credit	loss	is	deemed	to	have	occurred	for	securities	which	Huntington	does	not	intend	to	sell	or	is	not	

when	a	credit	loss	is	deemed	to	have	occurred	for	securities	which	Huntington	does	not	intend	to	sell	or	is	not	

required	to	sell.		The	CECL	methodology	also	applies	to	credit	exposures	on	off-balance-sheet	loan	commitments,	

required	to	sell.		The	CECL	methodology	also	applies	to	credit	exposures	on	off-balance-sheet	loan	commitments,	

financial	guarantees	not	accounted	for	as	insurance,	including	standby	letters	of	credit,	and	other	similar	

financial	guarantees	not	accounted	for	as	insurance,	including	standby	letters	of	credit,	and	other	similar	

instruments	not	recognized	as	derivative	financial	instruments.	

instruments	not	recognized	as	derivative	financial	instruments.	

Loans	-	The	allowance	for	credit	losses	is	deducted	from	the	amortized	cost	basis	of	a	financial	asset	or	a	group	

Loans	-	The	allowance	for	credit	losses	is	deducted	from	the	amortized	cost	basis	of	a	financial	asset	or	a	group	

of	financial	assets	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		Amortized	cost	is	

of	financial	assets	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		Amortized	cost	is	

the	principal	balance	outstanding,	net	of	purchase	premiums	and	discounts,	fair	value	hedge	accounting	

the	principal	balance	outstanding,	net	of	purchase	premiums	and	discounts,	fair	value	hedge	accounting	

adjustments,	and	deferred	fees	and	costs.		Subsequent	changes	(favorable	and	unfavorable)	in	expected	credit	

adjustments,	and	deferred	fees	and	costs.		Subsequent	changes	(favorable	and	unfavorable)	in	expected	credit	

losses	are	recognized	immediately	in	net	income	as	a	credit	loss	expense	or	a	reversal	of	credit	loss	expense.		

losses	are	recognized	immediately	in	net	income	as	a	credit	loss	expense	or	a	reversal	of	credit	loss	expense.		

Management	estimates	the	allowance	by	projecting	probability-of-default,	loss-given-default	and	exposure-at-

Management	estimates	the	allowance	by	projecting	probability-of-default,	loss-given-default	and	exposure-at-

default	depending	on	loan	risk	characteristics	and	economic	parameters	for	each	month	of	the	remaining	

default	depending	on	loan	risk	characteristics	and	economic	parameters	for	each	month	of	the	remaining	

contractual	term.		Commercial	loan	risk	characteristics	include	but	are	not	limited	to	risk	ratings,	industry	type	and	

contractual	term.		Commercial	loan	risk	characteristics	include	but	are	not	limited	to	risk	ratings,	industry	type	and	

maturity	type.		Consumer	loan	risk	characteristics	include	but	are	not	limited	to	FICO	scores,	LTV	and	loan	vintages.		

maturity	type.		Consumer	loan	risk	characteristics	include	but	are	not	limited	to	FICO	scores,	LTV	and	loan	vintages.		

The	economic	parameters	are	developed	using	available	information	relating	to	past	events,	current	conditions,	and	

The	economic	parameters	are	developed	using	available	information	relating	to	past	events,	current	conditions,	and	

reasonable	and	supportable	forecasts.		Huntington’s	reasonable	and	supportable	forecast	period	reverts	to	a	

reasonable	and	supportable	forecasts.		Huntington’s	reasonable	and	supportable	forecast	period	reverts	to	a	

historical	norm	based	on	inputs	within	approximately	two	to	three	years.		The	reversion	period	is	dependent	on	the	

historical	norm	based	on	inputs	within	approximately	two	to	three	years.		The	reversion	period	is	dependent	on	the	

state	of	the	economy	at	the	beginning	of	the	forecast.		Historical	credit	experience	provides	the	basis	for	the	

state	of	the	economy	at	the	beginning	of	the	forecast.		Historical	credit	experience	provides	the	basis	for	the	

estimation	of	expected	credit	losses,	with	adjustments	made	for	differences	in	current	loan-specific	risk	

estimation	of	expected	credit	losses,	with	adjustments	made	for	differences	in	current	loan-specific	risk	

112					Huntington	Bancshares	Incorporated
112					Huntington	Bancshares	Incorporated

2020	Form	10-K					113

2020	Form	10-K					113

securities.	Available-for-sale	securities	are	recognized	and	measured	at	fair	value	with	any	change	in	the	fair	value	

securities.	Available-for-sale	securities	are	recognized	and	measured	at	fair	value	with	any	change	in	the	fair	value	

recognized	in	other	comprehensive	income.			All	equity	securities	are	classified	as		other	securities.	

recognized	in	other	comprehensive	income.			All	equity	securities	are	classified	as		other	securities.	

Securities	transactions	are	recognized	on	the	trade	date	(the	date	the	order	to	buy	or	sell	is	executed).		The	

Securities	transactions	are	recognized	on	the	trade	date	(the	date	the	order	to	buy	or	sell	is	executed).		The	

carrying	value	plus	any	related	accumulated	OCI	balance	of	sold	securities	is	used	to	compute	realized	gains	and	

carrying	value	plus	any	related	accumulated	OCI	balance	of	sold	securities	is	used	to	compute	realized	gains	and	

losses.		Interest	on	securities,	including	amortization	of	premiums	and	accretion	of	discounts	using	the	effective	

losses.		Interest	on	securities,	including	amortization	of	premiums	and	accretion	of	discounts	using	the	effective	

interest	method	over	the	period	to	maturity,	is	included	in	interest	income.

interest	method	over	the	period	to	maturity,	is	included	in	interest	income.

Non-marketable	equity	securities	include	stock	held	for	membership	and	regulatory	purposes,	such	as	FHLB	

Non-marketable	equity	securities	include	stock	held	for	membership	and	regulatory	purposes,	such	as	FHLB	

stock	and	FRB	stock.		These	securities	are	accounted	for	at	cost,	evaluated	for	impairment,	and	are	included	in	other	

stock	and	FRB	stock.		These	securities	are	accounted	for	at	cost,	evaluated	for	impairment,	and	are	included	in	other	

securities.		Other	securities	also	include	mutual	funds	and	other	marketable	equity	securities.		These	securities	are	

securities.		Other	securities	also	include	mutual	funds	and	other	marketable	equity	securities.		These	securities	are	

carried	at	fair	value,	with	changes	in	fair	value	recognized	in	other	noninterest	income.

carried	at	fair	value,	with	changes	in	fair	value	recognized	in	other	noninterest	income.

Loans	and	Leases	—	Loans	for	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	

Loans	and	Leases	—	Loans	for	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	

until	maturity	or	payoff,	except	loans	for	which	the	fair	value	option	has	been	elected,	are	carried	at	the	principal	

until	maturity	or	payoff,	except	loans	for	which	the	fair	value	option	has	been	elected,	are	carried	at	the	principal	

amount	outstanding,	net	of	charge-offs,	unamortized	deferred	loan	origination	fees	and	costs,	premiums	and	

amount	outstanding,	net	of	charge-offs,	unamortized	deferred	loan	origination	fees	and	costs,	premiums	and	

discounts,	and	unearned	income.		Direct	financing	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	

discounts,	and	unearned	income.		Direct	financing	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	

and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	

and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	

originate	these	leases.		Interest	income	is	accrued	as	earned	using	the	interest	method.		Huntington	defers	the	fees	

originate	these	leases.		Interest	income	is	accrued	as	earned	using	the	interest	method.		Huntington	defers	the	fees	

it	receives	from	the	origination	of	loans	and	leases,	as	well	as	the	direct	costs	of	those	activities.		Huntington	also	

it	receives	from	the	origination	of	loans	and	leases,	as	well	as	the	direct	costs	of	those	activities.		Huntington	also	

acquires	loans	at	premiums	and/or	discounts	to	their	contractual	values.		Huntington	amortizes	loan	discounts,	

acquires	loans	at	premiums	and/or	discounts	to	their	contractual	values.		Huntington	amortizes	loan	discounts,	

premiums,	and	net	loan	origination	fees	and	costs	over	the	contractual	lives	of	the	related	loans	using	the	effective	

premiums,	and	net	loan	origination	fees	and	costs	over	the	contractual	lives	of	the	related	loans	using	the	effective	

interest	method.

interest	method.

Troubled	debt	restructurings	are	loans	for	which	the	original	contractual	terms	have	been	modified	to	provide	a	

Troubled	debt	restructurings	are	loans	for	which	the	original	contractual	terms	have	been	modified	to	provide	a	

concession	to	a	borrower	experiencing	financial	difficulties.		Loan	modifications	are	considered	TDRs	when	the	

concession	to	a	borrower	experiencing	financial	difficulties.		Loan	modifications	are	considered	TDRs	when	the	

concessions	provided	are	not	available	to	the	borrower	through	either	normal	channels	or	other	sources.		However,	

concessions	provided	are	not	available	to	the	borrower	through	either	normal	channels	or	other	sources.		However,	

not	all	loan	modifications	are	TDRs.		Modifications	resulting	in	troubled	debt	restructurings	may	include	changes	to	

not	all	loan	modifications	are	TDRs.		Modifications	resulting	in	troubled	debt	restructurings	may	include	changes	to	

one	or	more	terms	of	the	loan,	including	but	not	limited	to,	a	change	in	interest	rate,	an	extension	of	the	repayment	

one	or	more	terms	of	the	loan,	including	but	not	limited	to,	a	change	in	interest	rate,	an	extension	of	the	repayment	

period,	a	reduction	in	payment	amount,	and	partial	forgiveness	or	deferment	of	principal	or	accrued	interest.

period,	a	reduction	in	payment	amount,	and	partial	forgiveness	or	deferment	of	principal	or	accrued	interest.

Impairment	of	the	residual	values	of	direct	financing	leases	is	evaluated	quarterly,	with	impairment	arising	if	the	

Impairment	of	the	residual	values	of	direct	financing	leases	is	evaluated	quarterly,	with	impairment	arising	if	the	

expected	fair	value	is	less	than	the	carrying	amount.		Huntington	assesses	net	investments	in	leases	(including	

expected	fair	value	is	less	than	the	carrying	amount.		Huntington	assesses	net	investments	in	leases	(including	

residual	values)	for	impairment	and	recognizes	impairment	losses	in	accordance	with	the	impairment	guidance	for	

residual	values)	for	impairment	and	recognizes	impairment	losses	in	accordance	with	the	impairment	guidance	for	

financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	

financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	

changes	recognized	as	provision	expense.

changes	recognized	as	provision	expense.

For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	

For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	

the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	

the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	

independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	

independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	

cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	

cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	

contacts	and	are	factored	into	residual	value	estimates	where	applicable.

contacts	and	are	factored	into	residual	value	estimates	where	applicable.

Loans	Held	for	Sale	—	Loans	in	which	Huntington	does	not	have	the	intent	and	ability	to	hold	for	the	

Loans	Held	for	Sale	—	Loans	in	which	Huntington	does	not	have	the	intent	and	ability	to	hold	for	the	

foreseeable	future	are	classified	as	loans	held	for	sale.		Loans	held	for	sale	are	carried	at	(a)	the	lower	of	cost	or	fair	

foreseeable	future	are	classified	as	loans	held	for	sale.		Loans	held	for	sale	are	carried	at	(a)	the	lower	of	cost	or	fair	

value	less	costs	to	sell,	or	(b)	fair	value	where	the	fair	value	option	is	elected.		The	fair	value	option	is	generally	

value	less	costs	to	sell,	or	(b)	fair	value	where	the	fair	value	option	is	elected.		The	fair	value	option	is	generally	

elected	for	mortgage	loans	originated	with	the	intent	to	sell	to	facilitate	hedging	of	the	loans.		The	fair	value	of	such	

elected	for	mortgage	loans	originated	with	the	intent	to	sell	to	facilitate	hedging	of	the	loans.		The	fair	value	of	such	

loans	is	estimated	based	on	the	inputs	that	include	prices	of	mortgage	backed	securities	adjusted	for	other	variables	

loans	is	estimated	based	on	the	inputs	that	include	prices	of	mortgage	backed	securities	adjusted	for	other	variables	

such	as,	interest	rates,	expected	credit	defaults	and	market	discount	rates.		The	adjusted	value	reflects	the	price	we	

such	as,	interest	rates,	expected	credit	defaults	and	market	discount	rates.		The	adjusted	value	reflects	the	price	we	

expect	to	receive	from	the	sale	of	such	loans.

expect	to	receive	from	the	sale	of	such	loans.

Nonaccrual	and	Past	Due	Loans	—	Loans	are	considered	past	due	when	the	contractual	amounts	due	with	

Nonaccrual	and	Past	Due	Loans	—	Loans	are	considered	past	due	when	the	contractual	amounts	due	with	

respect	to	principal	and	interest	are	not	received	within	30	days	of	the	contractual	due	date.

respect	to	principal	and	interest	are	not	received	within	30	days	of	the	contractual	due	date.

Any	loan	in	any	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	

Any	loan	in	any	portfolio	may	be	placed	on	nonaccrual	status	prior	to	the	policies	described	below	when	

collection	of	principal	or	interest	is	in	doubt.		When	a	borrower	with	debt	is	discharged	in	a	Chapter	7	bankruptcy	

collection	of	principal	or	interest	is	in	doubt.		When	a	borrower	with	debt	is	discharged	in	a	Chapter	7	bankruptcy	

and	the	debt	is	not	reaffirmed	by	the	borrower,	the	loan	is	determined	to	be	collateral	dependent	and	placed	on	

and	the	debt	is	not	reaffirmed	by	the	borrower,	the	loan	is	determined	to	be	collateral	dependent	and	placed	on	

nonaccrual	status,	unless	there	is	a	co-borrower	or	the	repayment	is	likely	to	occur	based	on	objective	evidence.

nonaccrual	status,	unless	there	is	a	co-borrower	or	the	repayment	is	likely	to	occur	based	on	objective	evidence.

All	classes	within	the	C&I	and	CRE	portfolios	are	placed	on	nonaccrual	status	at	90-days	past	due.		First-lien	
All	classes	within	the	C&I	and	CRE	portfolios	are	placed	on	nonaccrual	status	at	90-days	past	due.		First-lien	
home	equity	loans	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	
home	equity	loans	are	placed	on	nonaccrual	status	at	150-days	past	due.		Junior-lien	home	equity	loans	are	placed	
on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	
on	nonaccrual	status	at	the	earlier	of	120-days	past	due	or	when	the	related	first-lien	loan	has	been	identified	as	
nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	placed	on	non-accrual,	if	not	charged	off,	
nonaccrual.		Automobile,	RV	and	marine	and	other	consumer	loans	are	placed	on	non-accrual,	if	not	charged	off,	
when	the	loan	is	120-days	past	due.		Residential	mortgage	loans	are	placed	on	nonaccrual	status	at	150-days	past	
when	the	loan	is	120-days	past	due.		Residential	mortgage	loans	are	placed	on	nonaccrual	status	at	150-days	past	
due,	with	the	exception	of	residential	mortgages	guaranteed	by	government	agencies	which	continue	to	accrue	
due,	with	the	exception	of	residential	mortgages	guaranteed	by	government	agencies	which	continue	to	accrue	
interest	at	the	rate	guaranteed	by	the	government	agency.		
interest	at	the	rate	guaranteed	by	the	government	agency.		

For	all	classes	within	all	loan	portfolios,	when	a	loan	is	placed	on	nonaccrual	status,	any	accrued	interest	income,	
For	all	classes	within	all	loan	portfolios,	when	a	loan	is	placed	on	nonaccrual	status,	any	accrued	interest	income,	

to	the	extent	it	is	recognized	in	the	current	year,	is	reversed	and	charged	to	interest	income.
to	the	extent	it	is	recognized	in	the	current	year,	is	reversed	and	charged	to	interest	income.

For	all	classes	within	all	loan	portfolios,	cash	receipts	on	NALs	are	applied	against	principal	until	the	loan	or	lease	
For	all	classes	within	all	loan	portfolios,	cash	receipts	on	NALs	are	applied	against	principal	until	the	loan	or	lease	

has	been	collected	in	full,	including	the	charged-off	portion,	after	which	time	any	additional	cash	receipts	are	
has	been	collected	in	full,	including	the	charged-off	portion,	after	which	time	any	additional	cash	receipts	are	
recognized	as	interest	income.		However,	for	secured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy,	payments	are	
recognized	as	interest	income.		However,	for	secured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy,	payments	are	
applied	to	principal	and	interest	when	the	borrower	has	demonstrated	a	capacity	to	continue	payment	of	the	debt	
applied	to	principal	and	interest	when	the	borrower	has	demonstrated	a	capacity	to	continue	payment	of	the	debt	
and	collection	of	the	debt	is	reasonably	assured.		For	unsecured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	
and	collection	of	the	debt	is	reasonably	assured.		For	unsecured	non-reaffirmed	debt	in	a	Chapter	7	bankruptcy	
where	the	carrying	value	has	been	fully	charged-off,	payments	are	recorded	as	loan	recoveries.
where	the	carrying	value	has	been	fully	charged-off,	payments	are	recorded	as	loan	recoveries.

Within	the	C&I	and	CRE	portfolios,	the	determination	of	a	borrower’s	ability	to	make	the	required	principal	and	
Within	the	C&I	and	CRE	portfolios,	the	determination	of	a	borrower’s	ability	to	make	the	required	principal	and	

interest	payments	is	based	on	an	examination	of	the	borrower’s	current	financial	statements,	industry,	management	
interest	payments	is	based	on	an	examination	of	the	borrower’s	current	financial	statements,	industry,	management	
capabilities,	and	other	qualitative	measures.		For	all	classes	within	the	consumer	loan	portfolio,	the	determination	of	
capabilities,	and	other	qualitative	measures.		For	all	classes	within	the	consumer	loan	portfolio,	the	determination	of	
a	borrower’s	ability	to	make	the	required	principal	and	interest	payments	is	based	on	multiple	factors,	including	
a	borrower’s	ability	to	make	the	required	principal	and	interest	payments	is	based	on	multiple	factors,	including	
number	of	days	past	due	and,	in	some	instances,	an	evaluation	of	the	borrower’s	financial	condition.		When,	in	
number	of	days	past	due	and,	in	some	instances,	an	evaluation	of	the	borrower’s	financial	condition.		When,	in	
management’s	judgment,	the	borrower’s	ability	to	make	required	principal	and	interest	payments	resumes	and	
management’s	judgment,	the	borrower’s	ability	to	make	required	principal	and	interest	payments	resumes	and	
collectability	is	no	longer	in	doubt,	supported	by	sustained	repayment	history,	the	loan	is	returned	to	accrual	status.		
collectability	is	no	longer	in	doubt,	supported	by	sustained	repayment	history,	the	loan	is	returned	to	accrual	status.		
For	loans	that	are	returned	to	accrual	status,	cash	receipts	are	applied	according	to	the	contractual	terms	of	the	
For	loans	that	are	returned	to	accrual	status,	cash	receipts	are	applied	according	to	the	contractual	terms	of	the	
loan.
loan.

Collateral-dependent	Loans	—	Certain	commercial	and	consumer	loans	for	which	repayment	is	expected	to	be	
Collateral-dependent	Loans	—	Certain	commercial	and	consumer	loans	for	which	repayment	is	expected	to	be	
provided	substantially	through	the	operation	or	sale	of	the	loan	collateral	are	considered	to	be	collateral-dependent.		
provided	substantially	through	the	operation	or	sale	of	the	loan	collateral	are	considered	to	be	collateral-dependent.		
Commercial	collateral-dependent	loans	are	generally	secured	by	business	assets	and/or	commercial	real	estate.		
Commercial	collateral-dependent	loans	are	generally	secured	by	business	assets	and/or	commercial	real	estate.		
Consumer	collateral-dependent	loans	are	primarily	secured	by	residential	real	estate	or	automobiles.
Consumer	collateral-dependent	loans	are	primarily	secured	by	residential	real	estate	or	automobiles.

Allowance	for	Credit	Losses	—	Huntington	maintains	allowance	for	credit	losses	on	its	loan	and	lease	portfolio,	
Allowance	for	Credit	Losses	—	Huntington	maintains	allowance	for	credit	losses	on	its	loan	and	lease	portfolio,	

held-to-maturity	securities	as	well	as	on	available-for-sale	securities.	The	allowance	for	credit	losses	on	loan	and	
held-to-maturity	securities	as	well	as	on	available-for-sale	securities.	The	allowance	for	credit	losses	on	loan	and	
lease	portfolio	and	held-to-maturity	securities	are	provided	through	an	expected	loss	methodology	referred	to	as	
lease	portfolio	and	held-to-maturity	securities	are	provided	through	an	expected	loss	methodology	referred	to	as	
current	expected	credit	loss	(“CECL”)	methodology.		The	allowance	for	credit	losses	on	AFS	securities	is	provided	
current	expected	credit	loss	(“CECL”)	methodology.		The	allowance	for	credit	losses	on	AFS	securities	is	provided	
when	a	credit	loss	is	deemed	to	have	occurred	for	securities	which	Huntington	does	not	intend	to	sell	or	is	not	
when	a	credit	loss	is	deemed	to	have	occurred	for	securities	which	Huntington	does	not	intend	to	sell	or	is	not	
required	to	sell.		The	CECL	methodology	also	applies	to	credit	exposures	on	off-balance-sheet	loan	commitments,	
required	to	sell.		The	CECL	methodology	also	applies	to	credit	exposures	on	off-balance-sheet	loan	commitments,	
financial	guarantees	not	accounted	for	as	insurance,	including	standby	letters	of	credit,	and	other	similar	
financial	guarantees	not	accounted	for	as	insurance,	including	standby	letters	of	credit,	and	other	similar	
instruments	not	recognized	as	derivative	financial	instruments.	
instruments	not	recognized	as	derivative	financial	instruments.	

Loans	-	The	allowance	for	credit	losses	is	deducted	from	the	amortized	cost	basis	of	a	financial	asset	or	a	group	
Loans	-	The	allowance	for	credit	losses	is	deducted	from	the	amortized	cost	basis	of	a	financial	asset	or	a	group	
of	financial	assets	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		Amortized	cost	is	
of	financial	assets	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		Amortized	cost	is	
the	principal	balance	outstanding,	net	of	purchase	premiums	and	discounts,	fair	value	hedge	accounting	
the	principal	balance	outstanding,	net	of	purchase	premiums	and	discounts,	fair	value	hedge	accounting	
adjustments,	and	deferred	fees	and	costs.		Subsequent	changes	(favorable	and	unfavorable)	in	expected	credit	
adjustments,	and	deferred	fees	and	costs.		Subsequent	changes	(favorable	and	unfavorable)	in	expected	credit	
losses	are	recognized	immediately	in	net	income	as	a	credit	loss	expense	or	a	reversal	of	credit	loss	expense.		
losses	are	recognized	immediately	in	net	income	as	a	credit	loss	expense	or	a	reversal	of	credit	loss	expense.		
Management	estimates	the	allowance	by	projecting	probability-of-default,	loss-given-default	and	exposure-at-
Management	estimates	the	allowance	by	projecting	probability-of-default,	loss-given-default	and	exposure-at-
default	depending	on	loan	risk	characteristics	and	economic	parameters	for	each	month	of	the	remaining	
default	depending	on	loan	risk	characteristics	and	economic	parameters	for	each	month	of	the	remaining	
contractual	term.		Commercial	loan	risk	characteristics	include	but	are	not	limited	to	risk	ratings,	industry	type	and	
contractual	term.		Commercial	loan	risk	characteristics	include	but	are	not	limited	to	risk	ratings,	industry	type	and	
maturity	type.		Consumer	loan	risk	characteristics	include	but	are	not	limited	to	FICO	scores,	LTV	and	loan	vintages.		
maturity	type.		Consumer	loan	risk	characteristics	include	but	are	not	limited	to	FICO	scores,	LTV	and	loan	vintages.		
The	economic	parameters	are	developed	using	available	information	relating	to	past	events,	current	conditions,	and	
The	economic	parameters	are	developed	using	available	information	relating	to	past	events,	current	conditions,	and	
reasonable	and	supportable	forecasts.		Huntington’s	reasonable	and	supportable	forecast	period	reverts	to	a	
reasonable	and	supportable	forecasts.		Huntington’s	reasonable	and	supportable	forecast	period	reverts	to	a	
historical	norm	based	on	inputs	within	approximately	two	to	three	years.		The	reversion	period	is	dependent	on	the	
historical	norm	based	on	inputs	within	approximately	two	to	three	years.		The	reversion	period	is	dependent	on	the	
state	of	the	economy	at	the	beginning	of	the	forecast.		Historical	credit	experience	provides	the	basis	for	the	
state	of	the	economy	at	the	beginning	of	the	forecast.		Historical	credit	experience	provides	the	basis	for	the	
estimation	of	expected	credit	losses,	with	adjustments	made	for	differences	in	current	loan-specific	risk	
estimation	of	expected	credit	losses,	with	adjustments	made	for	differences	in	current	loan-specific	risk	

112					Huntington	Bancshares	Incorporated

112					Huntington	Bancshares	Incorporated

2020	Form	10-K					113
2020	Form	10-K					113

characteristics	such	as	differences	in	underwriting	standards,	portfolio	mix,	delinquency	levels	and	terms,	as	well	as	
characteristics	such	as	differences	in	underwriting	standards,	portfolio	mix,	delinquency	levels	and	terms,	as	well	as	
for	changes	in	the	micro-	and	macro-economic	environments.		The	contractual	terms	of	financial	assets	are	adjusted	
for	changes	in	the	micro-	and	macro-economic	environments.		The	contractual	terms	of	financial	assets	are	adjusted	
for	expected	prepayments	and	any	extensions	outside	of	Huntington’s	control.	
for	expected	prepayments	and	any	extensions	outside	of	Huntington’s	control.	

The	allowance	for	credit	losses	is	measured	on	a	collective	basis	when	similar	risk	characteristics	exist.		Loans	
The	allowance	for	credit	losses	is	measured	on	a	collective	basis	when	similar	risk	characteristics	exist.		Loans	
that	are	determined	to	have	unique	risk	characteristics	are	evaluated	on	an	individual	basis	by	management.		If	a	
that	are	determined	to	have	unique	risk	characteristics	are	evaluated	on	an	individual	basis	by	management.		If	a	
loan	is	determined	to	be	collateral	dependent,	or	meets	the	criteria	to	apply	the	collateral	dependent	practical	
loan	is	determined	to	be	collateral	dependent,	or	meets	the	criteria	to	apply	the	collateral	dependent	practical	
expedient,	expected	credit	losses	are	determined	based	on	the	fair	value	of	the	collateral	at	the	reporting	date,	less	
expedient,	expected	credit	losses	are	determined	based	on	the	fair	value	of	the	collateral	at	the	reporting	date,	less	
costs	to	sell	as	appropriate.		Loans	with	unique	risk	characteristics	that	are	not	subject	to	collateral	dependent	
costs	to	sell	as	appropriate.		Loans	with	unique	risk	characteristics	that	are	not	subject	to	collateral	dependent	
accounting,	are	assessed	using	a	discounted	cash	flows	methodology.	
accounting,	are	assessed	using	a	discounted	cash	flows	methodology.	

Management	believes	the	products	within	each	of	the	entity’s	portfolio	classes	exhibit	similar	risk	
Management	believes	the	products	within	each	of	the	entity’s	portfolio	classes	exhibit	similar	risk	
characteristics.		Huntington	has	identified	its	portfolio	classes	as	disclosed	in	Note	5	-	“Loans	and	Leases”.	
characteristics.		Huntington	has	identified	its	portfolio	classes	as	disclosed	in	Note	5	-	“Loans	and	Leases”.	

In	addition	to	the	transactional	reserve	described	above,	Huntington	also	maintains	a	general	reserve	that	
In	addition	to	the	transactional	reserve	described	above,	Huntington	also	maintains	a	general	reserve	that	

consists	of	various	risk-profile	reserve	components.		The	risk-profile	components	consider	items	unique	to	
consists	of	various	risk-profile	reserve	components.		The	risk-profile	components	consider	items	unique	to	
Huntington’s	structure,	policies,	processes	and	portfolio	composition,	as	well	as	qualitative	measurements	and	
Huntington’s	structure,	policies,	processes	and	portfolio	composition,	as	well	as	qualitative	measurements	and	
assessments	of	the	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	
assessments	of	the	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	
composition,	industry	comparisons	and	internal	review	functions.
composition,	industry	comparisons	and	internal	review	functions.

Huntington	has	elected	to	exclude	accrued	interest	receivable	from	the	measurement	of	its	ACL	given	the	well-
Huntington	has	elected	to	exclude	accrued	interest	receivable	from	the	measurement	of	its	ACL	given	the	well-

defined	non-accrual	policies	in	place	for	all	loan	portfolios	which	results	in	timely	reversal	of	outstanding	interest	
defined	non-accrual	policies	in	place	for	all	loan	portfolios	which	results	in	timely	reversal	of	outstanding	interest	
through	interest	income.		For	certain	loans	on	active	deferral	related	to	COVID-19,	the	collection	of	interest	may	be	
through	interest	income.		For	certain	loans	on	active	deferral	related	to	COVID-19,	the	collection	of	interest	may	be	
delayed	for	an	extended	period	of	time.		The	accrued	interest	on	these	active	deferral	loans	is	contemplated	in	
delayed	for	an	extended	period	of	time.		The	accrued	interest	on	these	active	deferral	loans	is	contemplated	in	
establishing	the	ACL.
establishing	the	ACL.

The	estimate	for	the	off-balance	sheet	exposures,	the	AULC,	is	determined	using	the	same	procedures	and	
The	estimate	for	the	off-balance	sheet	exposures,	the	AULC,	is	determined	using	the	same	procedures	and	
methodologies	as	used	for	the	loan	and	lease	portfolio	supplemented	by	the	information	related	to	future	draws	
methodologies	as	used	for	the	loan	and	lease	portfolio	supplemented	by	the	information	related	to	future	draws	
and	related	credit	loss	expectations.		The	AULC	is	recorded	in	other	liabilities	in	the	Consolidated	Balance	Sheets.
and	related	credit	loss	expectations.		The	AULC	is	recorded	in	other	liabilities	in	the	Consolidated	Balance	Sheets.

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	the	allowance	for	credit	losses	was	
Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	the	allowance	for	credit	losses	was	
subject	to	the	guidance	included	in	ASC	310	and	ASC	450.		Under	the	guidance,	the	bank	was	required	to	use	an	
subject	to	the	guidance	included	in	ASC	310	and	ASC	450.		Under	the	guidance,	the	bank	was	required	to	use	an	
incurred	loss	methodology	to	estimate	credit	losses	that	were	estimated	to	be	incurred	in	the	loan	portfolio	and	that	
incurred	loss	methodology	to	estimate	credit	losses	that	were	estimated	to	be	incurred	in	the	loan	portfolio	and	that	
could	ultimately	materialize	into	confirmed	losses	in	the	form	of	charge-offs.		The	incurred	loss	methodology	was	a	
could	ultimately	materialize	into	confirmed	losses	in	the	form	of	charge-offs.		The	incurred	loss	methodology	was	a	
backward-looking	approach	to	loss	recognition	and	based	on	the	concept	of	a	triggering	event	having	taken	place,	
backward-looking	approach	to	loss	recognition	and	based	on	the	concept	of	a	triggering	event	having	taken	place,	
causing	a	loss	to	be	inherent	within	the	portfolio.		This	methodology	under	ASC	450	was	predicated	on	a	loss	
causing	a	loss	to	be	inherent	within	the	portfolio.		This	methodology	under	ASC	450	was	predicated	on	a	loss	
emergence	period	that	was	applied	at	a	portfolio	level.		Loss	emergence	periods,	PD’s	and	LGD’s	were	all	based	on	
emergence	period	that	was	applied	at	a	portfolio	level.		Loss	emergence	periods,	PD’s	and	LGD’s	were	all	based	on	
historical	loss	experience	within	the	loan	portfolios.	Consideration	of	forward	looking	macro-economic	expectations	
historical	loss	experience	within	the	loan	portfolios.	Consideration	of	forward	looking	macro-economic	expectations	
was	not	permitted	under	this	allowance	methodology.		Additionally,	loans	that	were	identified	as	impaired	under	
was	not	permitted	under	this	allowance	methodology.		Additionally,	loans	that	were	identified	as	impaired	under	
the	definition	of	ASC	310,	were	required	to	be	assessed	on	an	individual	basis.		The	allowance	for	credit	losses	and	
the	definition	of	ASC	310,	were	required	to	be	assessed	on	an	individual	basis.		The	allowance	for	credit	losses	and	
resulting	provision	expense	levels	for	comparative	periods	presented	in	this	document	were	estimated	in	
resulting	provision	expense	levels	for	comparative	periods	presented	in	this	document	were	estimated	in	
accordance	with	these	requirements.		
accordance	with	these	requirements.		

HTM	Securities	-	The	allowance	for	held-to-maturity	debt	securities	is	estimated	using	a	CECL	methodology.	Any	
HTM	Securities	-	The	allowance	for	held-to-maturity	debt	securities	is	estimated	using	a	CECL	methodology.	Any	

expected	credit	loss	is	provided	through	the	allowance	for	credit	loss	on	HTM	securities	and	is	deducted	from	the	
expected	credit	loss	is	provided	through	the	allowance	for	credit	loss	on	HTM	securities	and	is	deducted	from	the	
amortized	cost	basis	of	the	security	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		
amortized	cost	basis	of	the	security	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		
Nearly	all	of	Huntington’s	HTM	debt	securities	are	issued	by	U.S.	government	entities	and	agencies.		These	securities	
Nearly	all	of	Huntington’s	HTM	debt	securities	are	issued	by	U.S.	government	entities	and	agencies.		These	securities	
are	either	explicitly	or	implicitly	guaranteed	by	the	U.S.	government,	are	highly	rated	by	major	rating	agencies,	and	
are	either	explicitly	or	implicitly	guaranteed	by	the	U.S.	government,	are	highly	rated	by	major	rating	agencies,	and	
have	a	long	history	of	no	credit	losses.		Accordingly,	there	is	a	zero	credit	loss	expectation	on	these	securities.
have	a	long	history	of	no	credit	losses.		Accordingly,	there	is	a	zero	credit	loss	expectation	on	these	securities.

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	HTM	securities	
Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	HTM	securities	
portfolio	on	a	quarterly	basis	for	indicators	of	OTTI.		Huntington	assessed	whether	OTTI	had	occurred	when	the	fair	
portfolio	on	a	quarterly	basis	for	indicators	of	OTTI.		Huntington	assessed	whether	OTTI	had	occurred	when	the	fair	
value	of	a	debt	security	was	less	than	the	amortized	cost	at	the	balance	sheet	date.		If	an	OTTI	was	deemed	to	have	
value	of	a	debt	security	was	less	than	the	amortized	cost	at	the	balance	sheet	date.		If	an	OTTI	was	deemed	to	have	
occurred,	the	credit	portion	of	the	OTTI	was	recognized	in	noninterest	income	while	the	noncredit	portion	was	
occurred,	the	credit	portion	of	the	OTTI	was	recognized	in	noninterest	income	while	the	noncredit	portion	was	
recognized	in	OCI.		In	determining	the	credit	portion,	Huntington	used	a	discounted	cash	flow	analysis	which	
recognized	in	OCI.		In	determining	the	credit	portion,	Huntington	used	a	discounted	cash	flow	analysis	which	
included	evaluating	the	timing	and	amount	of	the	expected	cash	flows.	
included	evaluating	the	timing	and	amount	of	the	expected	cash	flows.	

AFS	Securities	-	Huntington	evaluates	its	available-for-sale	investment	securities	portfolio	on	a	quarterly	basis	for	

AFS	Securities	-	Huntington	evaluates	its	available-for-sale	investment	securities	portfolio	on	a	quarterly	basis	for	

indicators	of	impairment.		Huntington	assesses	whether	an	impairment	has	occurred	when	the	fair	value	of	a	debt	

indicators	of	impairment.		Huntington	assesses	whether	an	impairment	has	occurred	when	the	fair	value	of	a	debt	

security	is	less	than	the	amortized	cost	at	the	balance	sheet	date.		Management	reviews	the	amount	of	unrealized	

security	is	less	than	the	amortized	cost	at	the	balance	sheet	date.		Management	reviews	the	amount	of	unrealized	

loss,	the	credit	rating	history,	market	trends	of	similar	security	classes,	time	remaining	to	maturity,	and	the	source	of	

loss,	the	credit	rating	history,	market	trends	of	similar	security	classes,	time	remaining	to	maturity,	and	the	source	of	

both	interest	and	principal	payments	to	identify	securities	which	could	potentially	be	impaired.		For	those	debt	

both	interest	and	principal	payments	to	identify	securities	which	could	potentially	be	impaired.		For	those	debt	

securities	that	Huntington	intends	to	sell	or	is	more	likely	than	not	required	to	sell,	before	the	recovery	of	their	

securities	that	Huntington	intends	to	sell	or	is	more	likely	than	not	required	to	sell,	before	the	recovery	of	their	

amortized	cost	basis,	the	difference	between	fair	value	and	amortized	cost	is	considered	to	be	impaired	and	is	

amortized	cost	basis,	the	difference	between	fair	value	and	amortized	cost	is	considered	to	be	impaired	and	is	

recognized	in	noninterest	income.		For	those	debt	securities	that	Huntington	does	not	intend	to	sell	or	is	not	more	

recognized	in	noninterest	income.		For	those	debt	securities	that	Huntington	does	not	intend	to	sell	or	is	not	more	

likely	than	not	required	to	sell,	prior	to	expected	recovery	of	amortized	cost	basis,	the	credit	portion	of	the	

likely	than	not	required	to	sell,	prior	to	expected	recovery	of	amortized	cost	basis,	the	credit	portion	of	the	

impairment	is	recognized	through	an	allowance	in	noninterest	income	while	the	noncredit	portion	is	recognized	in	

impairment	is	recognized	through	an	allowance	in	noninterest	income	while	the	noncredit	portion	is	recognized	in	

OCI.		In	determining	the	credit	portion,	Huntington	uses	a	discounted	cash	flow	analysis,	which	includes	evaluating	

OCI.		In	determining	the	credit	portion,	Huntington	uses	a	discounted	cash	flow	analysis,	which	includes	evaluating	

the	timing	and	amount	of	the	expected	cash	flows.		Non-credit-related	impairment	results	from	other	factors,	

the	timing	and	amount	of	the	expected	cash	flows.		Non-credit-related	impairment	results	from	other	factors,	

including	increased	liquidity	spreads	and	higher	interest	rates.	

including	increased	liquidity	spreads	and	higher	interest	rates.	

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	AFS	securities	

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	AFS	securities	

portfolio	in	accordance	with	the	methodology	specified	in	the	preceding	paragraph	except	that	the	credit	portion	of	

portfolio	in	accordance	with	the	methodology	specified	in	the	preceding	paragraph	except	that	the	credit	portion	of	

the	impairment	would	reduce	the	amortized	cost	basis	of	the	security.		Any	subsequent	increase	in	the	expected	

the	impairment	would	reduce	the	amortized	cost	basis	of	the	security.		Any	subsequent	increase	in	the	expected	

cash	flows	would	be	recognized	as	an	adjustment	to	interest	income.

cash	flows	would	be	recognized	as	an	adjustment	to	interest	income.

Charge-off	of	Uncollectible	Loans	—	Any	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	

Charge-off	of	Uncollectible	Loans	—	Any	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	

below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	

below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	

(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	

(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	

and	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	

and	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	

in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs,	

in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs,	

unless	the	repayment	is	likely	to	occur	based	on	objective	evidence.

unless	the	repayment	is	likely	to	occur	based	on	objective	evidence.

C&I	and	CRE	loans	are	generally	either	charged-off	or	written	down	to	net	realizable	value	at	90-days	past	due.		

C&I	and	CRE	loans	are	generally	either	charged-off	or	written	down	to	net	realizable	value	at	90-days	past	due.		

Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	charged-off	at	120-days	past	due.		First-lien	and	

Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	charged-off	at	120-days	past	due.		First-lien	and	

junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	

junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	

costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	

costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	

estimated	fair	value	of	the	collateral	at	150-days	past	due.

estimated	fair	value	of	the	collateral	at	150-days	past	due.

Collateral	—	Huntington	pledges	assets	as	collateral	as	required	for	various	transactions	including	security	

Collateral	—	Huntington	pledges	assets	as	collateral	as	required	for	various	transactions	including	security	

repurchase	agreements,	public	deposits,	loan	notes,	derivative	financial	instruments,	short-term	borrowings	and	

repurchase	agreements,	public	deposits,	loan	notes,	derivative	financial	instruments,	short-term	borrowings	and	

long-term	borrowings.		Assets	that	have	been	pledged	as	collateral,	including	those	that	can	be	sold	or	repledged	by	

long-term	borrowings.		Assets	that	have	been	pledged	as	collateral,	including	those	that	can	be	sold	or	repledged	by	

the	secured	party,	continue	to	be	reported	on	the	Consolidated	Balance	Sheets.

the	secured	party,	continue	to	be	reported	on	the	Consolidated	Balance	Sheets.

Huntington	also	accepts	collateral,	primarily	as	part	of	various	transactions	including	derivative	instruments	and	

Huntington	also	accepts	collateral,	primarily	as	part	of	various	transactions	including	derivative	instruments	and	

security	resale	agreements.		Collateral	received	is	excluded	from	the	Consolidated	Balance	Sheets.

security	resale	agreements.		Collateral	received	is	excluded	from	the	Consolidated	Balance	Sheets.

The	market	value	of	collateral	accepted	or	pledged	is	regularly	monitored	and	additional	collateral	is	obtained	or	

The	market	value	of	collateral	accepted	or	pledged	is	regularly	monitored	and	additional	collateral	is	obtained	or	

provided	as	necessary	to	ensure	appropriate	collateral	coverage	in	these	transactions.		

provided	as	necessary	to	ensure	appropriate	collateral	coverage	in	these	transactions.		

Premises	and	Equipment	—	Premises	and	equipment	are	stated	at	cost,	less	accumulated	depreciation	and	

Premises	and	Equipment	—	Premises	and	equipment	are	stated	at	cost,	less	accumulated	depreciation	and	

amortization.		Depreciation	is	computed	principally	by	the	straight-line	method	over	the	estimated	useful	lives	of	the	

amortization.		Depreciation	is	computed	principally	by	the	straight-line	method	over	the	estimated	useful	lives	of	the	

related	assets.		Buildings	and	building	improvements	are	depreciated	over	an	average	of	30	to	40	years	and	10	to	30	

related	assets.		Buildings	and	building	improvements	are	depreciated	over	an	average	of	30	to	40	years	and	10	to	30	

years,	respectively.		Land	improvements	and	furniture	and	fixtures	are	depreciated	over	an	average	of	5	to	20	years,	

years,	respectively.		Land	improvements	and	furniture	and	fixtures	are	depreciated	over	an	average	of	5	to	20	years,	

while	equipment	is	depreciated	over	a	range	of	3	to	10	years.		Leasehold	improvements	are	amortized	over	the	

while	equipment	is	depreciated	over	a	range	of	3	to	10	years.		Leasehold	improvements	are	amortized	over	the	

lesser	of	the	asset’s	useful	life	or	the	lease	term,	including	any	renewal	periods	for	which	renewal	is	reasonably	

lesser	of	the	asset’s	useful	life	or	the	lease	term,	including	any	renewal	periods	for	which	renewal	is	reasonably	

assured.		Maintenance	and	repairs	are	charged	to	expense	as	incurred,	while	improvements	that	extend	the	useful	

assured.		Maintenance	and	repairs	are	charged	to	expense	as	incurred,	while	improvements	that	extend	the	useful	

life	of	an	asset	are	capitalized	and	depreciated	over	the	remaining	useful	life.		Amounts	in	premises	and	equipment	

life	of	an	asset	are	capitalized	and	depreciated	over	the	remaining	useful	life.		Amounts	in	premises	and	equipment	

may	include	items	classified	as	held-for-sale,	which	are	carried	at	lower	of	cost	or	fair	value,	less	costs	to	sell.		

may	include	items	classified	as	held-for-sale,	which	are	carried	at	lower	of	cost	or	fair	value,	less	costs	to	sell.		

Premises	and	equipment	are	evaluated	for	impairment	whenever	events	or	changes	in	circumstances	indicate	that	

Premises	and	equipment	are	evaluated	for	impairment	whenever	events	or	changes	in	circumstances	indicate	that	

the	carrying	amount	of	the	asset	may	not	be	recoverable.

the	carrying	amount	of	the	asset	may	not	be	recoverable.

Mortgage	Servicing	Rights	—	Huntington	recognizes	the	rights	to	service	mortgage	loans	as	an	asset	when	

Mortgage	Servicing	Rights	—	Huntington	recognizes	the	rights	to	service	mortgage	loans	as	an	asset	when	

servicing	is	contractually	separated	from	the	underlying	mortgage	loans	by	sale	or	securitization	of	the	loans	with	

servicing	is	contractually	separated	from	the	underlying	mortgage	loans	by	sale	or	securitization	of	the	loans	with	

114					Huntington	Bancshares	Incorporated
114					Huntington	Bancshares	Incorporated

2020	Form	10-K					115

2020	Form	10-K					115

for	changes	in	the	micro-	and	macro-economic	environments.		The	contractual	terms	of	financial	assets	are	adjusted	

for	changes	in	the	micro-	and	macro-economic	environments.		The	contractual	terms	of	financial	assets	are	adjusted	

for	expected	prepayments	and	any	extensions	outside	of	Huntington’s	control.	

for	expected	prepayments	and	any	extensions	outside	of	Huntington’s	control.	

The	allowance	for	credit	losses	is	measured	on	a	collective	basis	when	similar	risk	characteristics	exist.		Loans	

The	allowance	for	credit	losses	is	measured	on	a	collective	basis	when	similar	risk	characteristics	exist.		Loans	

that	are	determined	to	have	unique	risk	characteristics	are	evaluated	on	an	individual	basis	by	management.		If	a	

that	are	determined	to	have	unique	risk	characteristics	are	evaluated	on	an	individual	basis	by	management.		If	a	

loan	is	determined	to	be	collateral	dependent,	or	meets	the	criteria	to	apply	the	collateral	dependent	practical	

loan	is	determined	to	be	collateral	dependent,	or	meets	the	criteria	to	apply	the	collateral	dependent	practical	

expedient,	expected	credit	losses	are	determined	based	on	the	fair	value	of	the	collateral	at	the	reporting	date,	less	

expedient,	expected	credit	losses	are	determined	based	on	the	fair	value	of	the	collateral	at	the	reporting	date,	less	

costs	to	sell	as	appropriate.		Loans	with	unique	risk	characteristics	that	are	not	subject	to	collateral	dependent	

costs	to	sell	as	appropriate.		Loans	with	unique	risk	characteristics	that	are	not	subject	to	collateral	dependent	

accounting,	are	assessed	using	a	discounted	cash	flows	methodology.	

accounting,	are	assessed	using	a	discounted	cash	flows	methodology.	

Management	believes	the	products	within	each	of	the	entity’s	portfolio	classes	exhibit	similar	risk	

Management	believes	the	products	within	each	of	the	entity’s	portfolio	classes	exhibit	similar	risk	

characteristics.		Huntington	has	identified	its	portfolio	classes	as	disclosed	in	Note	5	-	“Loans	and	Leases”.	

characteristics.		Huntington	has	identified	its	portfolio	classes	as	disclosed	in	Note	5	-	“Loans	and	Leases”.	

In	addition	to	the	transactional	reserve	described	above,	Huntington	also	maintains	a	general	reserve	that	

In	addition	to	the	transactional	reserve	described	above,	Huntington	also	maintains	a	general	reserve	that	

consists	of	various	risk-profile	reserve	components.		The	risk-profile	components	consider	items	unique	to	

consists	of	various	risk-profile	reserve	components.		The	risk-profile	components	consider	items	unique	to	

Huntington’s	structure,	policies,	processes	and	portfolio	composition,	as	well	as	qualitative	measurements	and	

Huntington’s	structure,	policies,	processes	and	portfolio	composition,	as	well	as	qualitative	measurements	and	

assessments	of	the	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	

assessments	of	the	loan	portfolios	including,	but	not	limited	to,	economic	uncertainty,	concentrations,	portfolio	

composition,	industry	comparisons	and	internal	review	functions.

composition,	industry	comparisons	and	internal	review	functions.

Huntington	has	elected	to	exclude	accrued	interest	receivable	from	the	measurement	of	its	ACL	given	the	well-

Huntington	has	elected	to	exclude	accrued	interest	receivable	from	the	measurement	of	its	ACL	given	the	well-

defined	non-accrual	policies	in	place	for	all	loan	portfolios	which	results	in	timely	reversal	of	outstanding	interest	

defined	non-accrual	policies	in	place	for	all	loan	portfolios	which	results	in	timely	reversal	of	outstanding	interest	

through	interest	income.		For	certain	loans	on	active	deferral	related	to	COVID-19,	the	collection	of	interest	may	be	

through	interest	income.		For	certain	loans	on	active	deferral	related	to	COVID-19,	the	collection	of	interest	may	be	

delayed	for	an	extended	period	of	time.		The	accrued	interest	on	these	active	deferral	loans	is	contemplated	in	

delayed	for	an	extended	period	of	time.		The	accrued	interest	on	these	active	deferral	loans	is	contemplated	in	

establishing	the	ACL.

establishing	the	ACL.

The	estimate	for	the	off-balance	sheet	exposures,	the	AULC,	is	determined	using	the	same	procedures	and	

The	estimate	for	the	off-balance	sheet	exposures,	the	AULC,	is	determined	using	the	same	procedures	and	

methodologies	as	used	for	the	loan	and	lease	portfolio	supplemented	by	the	information	related	to	future	draws	

methodologies	as	used	for	the	loan	and	lease	portfolio	supplemented	by	the	information	related	to	future	draws	

and	related	credit	loss	expectations.		The	AULC	is	recorded	in	other	liabilities	in	the	Consolidated	Balance	Sheets.

and	related	credit	loss	expectations.		The	AULC	is	recorded	in	other	liabilities	in	the	Consolidated	Balance	Sheets.

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	the	allowance	for	credit	losses	was	

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	the	allowance	for	credit	losses	was	

subject	to	the	guidance	included	in	ASC	310	and	ASC	450.		Under	the	guidance,	the	bank	was	required	to	use	an	

subject	to	the	guidance	included	in	ASC	310	and	ASC	450.		Under	the	guidance,	the	bank	was	required	to	use	an	

incurred	loss	methodology	to	estimate	credit	losses	that	were	estimated	to	be	incurred	in	the	loan	portfolio	and	that	

incurred	loss	methodology	to	estimate	credit	losses	that	were	estimated	to	be	incurred	in	the	loan	portfolio	and	that	

could	ultimately	materialize	into	confirmed	losses	in	the	form	of	charge-offs.		The	incurred	loss	methodology	was	a	

could	ultimately	materialize	into	confirmed	losses	in	the	form	of	charge-offs.		The	incurred	loss	methodology	was	a	

backward-looking	approach	to	loss	recognition	and	based	on	the	concept	of	a	triggering	event	having	taken	place,	

backward-looking	approach	to	loss	recognition	and	based	on	the	concept	of	a	triggering	event	having	taken	place,	

causing	a	loss	to	be	inherent	within	the	portfolio.		This	methodology	under	ASC	450	was	predicated	on	a	loss	

causing	a	loss	to	be	inherent	within	the	portfolio.		This	methodology	under	ASC	450	was	predicated	on	a	loss	

emergence	period	that	was	applied	at	a	portfolio	level.		Loss	emergence	periods,	PD’s	and	LGD’s	were	all	based	on	

emergence	period	that	was	applied	at	a	portfolio	level.		Loss	emergence	periods,	PD’s	and	LGD’s	were	all	based	on	

historical	loss	experience	within	the	loan	portfolios.	Consideration	of	forward	looking	macro-economic	expectations	

historical	loss	experience	within	the	loan	portfolios.	Consideration	of	forward	looking	macro-economic	expectations	

resulting	provision	expense	levels	for	comparative	periods	presented	in	this	document	were	estimated	in	

resulting	provision	expense	levels	for	comparative	periods	presented	in	this	document	were	estimated	in	

accordance	with	these	requirements.		

accordance	with	these	requirements.		

HTM	Securities	-	The	allowance	for	held-to-maturity	debt	securities	is	estimated	using	a	CECL	methodology.	Any	

HTM	Securities	-	The	allowance	for	held-to-maturity	debt	securities	is	estimated	using	a	CECL	methodology.	Any	

expected	credit	loss	is	provided	through	the	allowance	for	credit	loss	on	HTM	securities	and	is	deducted	from	the	

expected	credit	loss	is	provided	through	the	allowance	for	credit	loss	on	HTM	securities	and	is	deducted	from	the	

amortized	cost	basis	of	the	security	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		

amortized	cost	basis	of	the	security	so	that	the	balance	sheet	reflects	the	net	amount	Huntington	expects	to	collect.		

Nearly	all	of	Huntington’s	HTM	debt	securities	are	issued	by	U.S.	government	entities	and	agencies.		These	securities	

Nearly	all	of	Huntington’s	HTM	debt	securities	are	issued	by	U.S.	government	entities	and	agencies.		These	securities	

are	either	explicitly	or	implicitly	guaranteed	by	the	U.S.	government,	are	highly	rated	by	major	rating	agencies,	and	

are	either	explicitly	or	implicitly	guaranteed	by	the	U.S.	government,	are	highly	rated	by	major	rating	agencies,	and	

have	a	long	history	of	no	credit	losses.		Accordingly,	there	is	a	zero	credit	loss	expectation	on	these	securities.

have	a	long	history	of	no	credit	losses.		Accordingly,	there	is	a	zero	credit	loss	expectation	on	these	securities.

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	HTM	securities	

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	HTM	securities	

portfolio	on	a	quarterly	basis	for	indicators	of	OTTI.		Huntington	assessed	whether	OTTI	had	occurred	when	the	fair	

portfolio	on	a	quarterly	basis	for	indicators	of	OTTI.		Huntington	assessed	whether	OTTI	had	occurred	when	the	fair	

value	of	a	debt	security	was	less	than	the	amortized	cost	at	the	balance	sheet	date.		If	an	OTTI	was	deemed	to	have	

value	of	a	debt	security	was	less	than	the	amortized	cost	at	the	balance	sheet	date.		If	an	OTTI	was	deemed	to	have	

occurred,	the	credit	portion	of	the	OTTI	was	recognized	in	noninterest	income	while	the	noncredit	portion	was	

occurred,	the	credit	portion	of	the	OTTI	was	recognized	in	noninterest	income	while	the	noncredit	portion	was	

recognized	in	OCI.		In	determining	the	credit	portion,	Huntington	used	a	discounted	cash	flow	analysis	which	

recognized	in	OCI.		In	determining	the	credit	portion,	Huntington	used	a	discounted	cash	flow	analysis	which	

included	evaluating	the	timing	and	amount	of	the	expected	cash	flows.	

included	evaluating	the	timing	and	amount	of	the	expected	cash	flows.	

characteristics	such	as	differences	in	underwriting	standards,	portfolio	mix,	delinquency	levels	and	terms,	as	well	as	

characteristics	such	as	differences	in	underwriting	standards,	portfolio	mix,	delinquency	levels	and	terms,	as	well	as	

AFS	Securities	-	Huntington	evaluates	its	available-for-sale	investment	securities	portfolio	on	a	quarterly	basis	for	
AFS	Securities	-	Huntington	evaluates	its	available-for-sale	investment	securities	portfolio	on	a	quarterly	basis	for	

indicators	of	impairment.		Huntington	assesses	whether	an	impairment	has	occurred	when	the	fair	value	of	a	debt	
indicators	of	impairment.		Huntington	assesses	whether	an	impairment	has	occurred	when	the	fair	value	of	a	debt	
security	is	less	than	the	amortized	cost	at	the	balance	sheet	date.		Management	reviews	the	amount	of	unrealized	
security	is	less	than	the	amortized	cost	at	the	balance	sheet	date.		Management	reviews	the	amount	of	unrealized	
loss,	the	credit	rating	history,	market	trends	of	similar	security	classes,	time	remaining	to	maturity,	and	the	source	of	
loss,	the	credit	rating	history,	market	trends	of	similar	security	classes,	time	remaining	to	maturity,	and	the	source	of	
both	interest	and	principal	payments	to	identify	securities	which	could	potentially	be	impaired.		For	those	debt	
both	interest	and	principal	payments	to	identify	securities	which	could	potentially	be	impaired.		For	those	debt	
securities	that	Huntington	intends	to	sell	or	is	more	likely	than	not	required	to	sell,	before	the	recovery	of	their	
securities	that	Huntington	intends	to	sell	or	is	more	likely	than	not	required	to	sell,	before	the	recovery	of	their	
amortized	cost	basis,	the	difference	between	fair	value	and	amortized	cost	is	considered	to	be	impaired	and	is	
amortized	cost	basis,	the	difference	between	fair	value	and	amortized	cost	is	considered	to	be	impaired	and	is	
recognized	in	noninterest	income.		For	those	debt	securities	that	Huntington	does	not	intend	to	sell	or	is	not	more	
recognized	in	noninterest	income.		For	those	debt	securities	that	Huntington	does	not	intend	to	sell	or	is	not	more	
likely	than	not	required	to	sell,	prior	to	expected	recovery	of	amortized	cost	basis,	the	credit	portion	of	the	
likely	than	not	required	to	sell,	prior	to	expected	recovery	of	amortized	cost	basis,	the	credit	portion	of	the	
impairment	is	recognized	through	an	allowance	in	noninterest	income	while	the	noncredit	portion	is	recognized	in	
impairment	is	recognized	through	an	allowance	in	noninterest	income	while	the	noncredit	portion	is	recognized	in	
OCI.		In	determining	the	credit	portion,	Huntington	uses	a	discounted	cash	flow	analysis,	which	includes	evaluating	
OCI.		In	determining	the	credit	portion,	Huntington	uses	a	discounted	cash	flow	analysis,	which	includes	evaluating	
the	timing	and	amount	of	the	expected	cash	flows.		Non-credit-related	impairment	results	from	other	factors,	
the	timing	and	amount	of	the	expected	cash	flows.		Non-credit-related	impairment	results	from	other	factors,	
including	increased	liquidity	spreads	and	higher	interest	rates.	
including	increased	liquidity	spreads	and	higher	interest	rates.	

Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	AFS	securities	
Prior	to	the	implementation	of	ASU	2016-13	(CECL)	on	January	1,	2020,	Huntington	evaluated	its	AFS	securities	
portfolio	in	accordance	with	the	methodology	specified	in	the	preceding	paragraph	except	that	the	credit	portion	of	
portfolio	in	accordance	with	the	methodology	specified	in	the	preceding	paragraph	except	that	the	credit	portion	of	
the	impairment	would	reduce	the	amortized	cost	basis	of	the	security.		Any	subsequent	increase	in	the	expected	
the	impairment	would	reduce	the	amortized	cost	basis	of	the	security.		Any	subsequent	increase	in	the	expected	
cash	flows	would	be	recognized	as	an	adjustment	to	interest	income.
cash	flows	would	be	recognized	as	an	adjustment	to	interest	income.

Charge-off	of	Uncollectible	Loans	—	Any	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	
Charge-off	of	Uncollectible	Loans	—	Any	loan	in	any	portfolio	may	be	charged-off	prior	to	the	policies	described	

below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	
below	if	a	loss	confirming	event	has	occurred.		Loss	confirming	events	include,	but	are	not	limited	to,	bankruptcy	
(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	
(unsecured),	continued	delinquency,	foreclosure,	or	receipt	of	an	asset	valuation	indicating	a	collateral	deficiency	
and	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	
and	that	asset	is	the	sole	source	of	repayment.		Additionally,	discharged,	collateral	dependent	non-reaffirmed	debt	
in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs,	
in	Chapter	7	bankruptcy	filings	will	result	in	a	charge-off	to	estimated	collateral	value,	less	anticipated	selling	costs,	
unless	the	repayment	is	likely	to	occur	based	on	objective	evidence.
unless	the	repayment	is	likely	to	occur	based	on	objective	evidence.

C&I	and	CRE	loans	are	generally	either	charged-off	or	written	down	to	net	realizable	value	at	90-days	past	due.		
C&I	and	CRE	loans	are	generally	either	charged-off	or	written	down	to	net	realizable	value	at	90-days	past	due.		
Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	charged-off	at	120-days	past	due.		First-lien	and	
Automobile,	RV	and	marine	and	other	consumer	loans	are	generally	charged-off	at	120-days	past	due.		First-lien	and	
junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	
junior-lien	home	equity	loans	are	charged-off	to	the	estimated	fair	value	of	the	collateral,	less	anticipated	selling	
costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	
costs,	at	150-days	past	due	and	120-days	past	due,	respectively.		Residential	mortgages	are	charged-off	to	the	
estimated	fair	value	of	the	collateral	at	150-days	past	due.
estimated	fair	value	of	the	collateral	at	150-days	past	due.

Collateral	—	Huntington	pledges	assets	as	collateral	as	required	for	various	transactions	including	security	
Collateral	—	Huntington	pledges	assets	as	collateral	as	required	for	various	transactions	including	security	
repurchase	agreements,	public	deposits,	loan	notes,	derivative	financial	instruments,	short-term	borrowings	and	
repurchase	agreements,	public	deposits,	loan	notes,	derivative	financial	instruments,	short-term	borrowings	and	
long-term	borrowings.		Assets	that	have	been	pledged	as	collateral,	including	those	that	can	be	sold	or	repledged	by	
long-term	borrowings.		Assets	that	have	been	pledged	as	collateral,	including	those	that	can	be	sold	or	repledged	by	
the	secured	party,	continue	to	be	reported	on	the	Consolidated	Balance	Sheets.
the	secured	party,	continue	to	be	reported	on	the	Consolidated	Balance	Sheets.

was	not	permitted	under	this	allowance	methodology.		Additionally,	loans	that	were	identified	as	impaired	under	

was	not	permitted	under	this	allowance	methodology.		Additionally,	loans	that	were	identified	as	impaired	under	

Huntington	also	accepts	collateral,	primarily	as	part	of	various	transactions	including	derivative	instruments	and	
Huntington	also	accepts	collateral,	primarily	as	part	of	various	transactions	including	derivative	instruments	and	

the	definition	of	ASC	310,	were	required	to	be	assessed	on	an	individual	basis.		The	allowance	for	credit	losses	and	

the	definition	of	ASC	310,	were	required	to	be	assessed	on	an	individual	basis.		The	allowance	for	credit	losses	and	

security	resale	agreements.		Collateral	received	is	excluded	from	the	Consolidated	Balance	Sheets.
security	resale	agreements.		Collateral	received	is	excluded	from	the	Consolidated	Balance	Sheets.

The	market	value	of	collateral	accepted	or	pledged	is	regularly	monitored	and	additional	collateral	is	obtained	or	
The	market	value	of	collateral	accepted	or	pledged	is	regularly	monitored	and	additional	collateral	is	obtained	or	

provided	as	necessary	to	ensure	appropriate	collateral	coverage	in	these	transactions.		
provided	as	necessary	to	ensure	appropriate	collateral	coverage	in	these	transactions.		

Premises	and	Equipment	—	Premises	and	equipment	are	stated	at	cost,	less	accumulated	depreciation	and	
Premises	and	Equipment	—	Premises	and	equipment	are	stated	at	cost,	less	accumulated	depreciation	and	
amortization.		Depreciation	is	computed	principally	by	the	straight-line	method	over	the	estimated	useful	lives	of	the	
amortization.		Depreciation	is	computed	principally	by	the	straight-line	method	over	the	estimated	useful	lives	of	the	
related	assets.		Buildings	and	building	improvements	are	depreciated	over	an	average	of	30	to	40	years	and	10	to	30	
related	assets.		Buildings	and	building	improvements	are	depreciated	over	an	average	of	30	to	40	years	and	10	to	30	
years,	respectively.		Land	improvements	and	furniture	and	fixtures	are	depreciated	over	an	average	of	5	to	20	years,	
years,	respectively.		Land	improvements	and	furniture	and	fixtures	are	depreciated	over	an	average	of	5	to	20	years,	
while	equipment	is	depreciated	over	a	range	of	3	to	10	years.		Leasehold	improvements	are	amortized	over	the	
while	equipment	is	depreciated	over	a	range	of	3	to	10	years.		Leasehold	improvements	are	amortized	over	the	
lesser	of	the	asset’s	useful	life	or	the	lease	term,	including	any	renewal	periods	for	which	renewal	is	reasonably	
lesser	of	the	asset’s	useful	life	or	the	lease	term,	including	any	renewal	periods	for	which	renewal	is	reasonably	
assured.		Maintenance	and	repairs	are	charged	to	expense	as	incurred,	while	improvements	that	extend	the	useful	
assured.		Maintenance	and	repairs	are	charged	to	expense	as	incurred,	while	improvements	that	extend	the	useful	
life	of	an	asset	are	capitalized	and	depreciated	over	the	remaining	useful	life.		Amounts	in	premises	and	equipment	
life	of	an	asset	are	capitalized	and	depreciated	over	the	remaining	useful	life.		Amounts	in	premises	and	equipment	
may	include	items	classified	as	held-for-sale,	which	are	carried	at	lower	of	cost	or	fair	value,	less	costs	to	sell.		
may	include	items	classified	as	held-for-sale,	which	are	carried	at	lower	of	cost	or	fair	value,	less	costs	to	sell.		
Premises	and	equipment	are	evaluated	for	impairment	whenever	events	or	changes	in	circumstances	indicate	that	
Premises	and	equipment	are	evaluated	for	impairment	whenever	events	or	changes	in	circumstances	indicate	that	
the	carrying	amount	of	the	asset	may	not	be	recoverable.
the	carrying	amount	of	the	asset	may	not	be	recoverable.

Mortgage	Servicing	Rights	—	Huntington	recognizes	the	rights	to	service	mortgage	loans	as	an	asset	when	
Mortgage	Servicing	Rights	—	Huntington	recognizes	the	rights	to	service	mortgage	loans	as	an	asset	when	
servicing	is	contractually	separated	from	the	underlying	mortgage	loans	by	sale	or	securitization	of	the	loans	with	
servicing	is	contractually	separated	from	the	underlying	mortgage	loans	by	sale	or	securitization	of	the	loans	with	

114					Huntington	Bancshares	Incorporated

114					Huntington	Bancshares	Incorporated

2020	Form	10-K					115
2020	Form	10-K					115

servicing	rights	retained	or	when	purchased.		MSRs	are	included	in	servicing	rights	and	other	intangible	assets	in	the	
servicing	rights	retained	or	when	purchased.		MSRs	are	included	in	servicing	rights	and	other	intangible	assets	in	the	
Consolidated	Balance	Sheets.		At	the	time	of	initial	capitalization,	MSRs	may	be	grouped	into	servicing	classes	based	
Consolidated	Balance	Sheets.		At	the	time	of	initial	capitalization,	MSRs	may	be	grouped	into	servicing	classes	based	
on	the	availability	of	market	inputs	used	in	determining	fair	value	and	the	method	used	for	managing	the	risks	of	the	
on	the	availability	of	market	inputs	used	in	determining	fair	value	and	the	method	used	for	managing	the	risks	of	the	
servicing	assets.		All	MSR	assets	are	recorded	using	the	fair	value	method.		Any	change	in	the	fair	value	of	MSRs	
servicing	assets.		All	MSR	assets	are	recorded	using	the	fair	value	method.		Any	change	in	the	fair	value	of	MSRs	
during	the	period	is	recorded	in	mortgage	banking	income.		Huntington	economically	hedges	the	value	of	certain	
during	the	period	is	recorded	in	mortgage	banking	income.		Huntington	economically	hedges	the	value	of	certain	
MSRs	using	derivative	instruments	and	trading	securities.		Changes	in	fair	value	of	these	derivatives	and	trading	
MSRs	using	derivative	instruments	and	trading	securities.		Changes	in	fair	value	of	these	derivatives	and	trading	
securities	are	reported	as	a	component	of	mortgage	banking	income.
securities	are	reported	as	a	component	of	mortgage	banking	income.

Goodwill	and	Other	Intangible	Assets	—	Under	the	acquisition	method	of	accounting,	the	net	assets	of	entities	
Goodwill	and	Other	Intangible	Assets	—	Under	the	acquisition	method	of	accounting,	the	net	assets	of	entities	

acquired	by	Huntington	are	recorded	at	their	estimated	fair	value	at	the	date	of	acquisition.		The	excess	cost	of	
acquired	by	Huntington	are	recorded	at	their	estimated	fair	value	at	the	date	of	acquisition.		The	excess	cost	of	
consideration	paid	over	the	fair	value	of	net	assets	acquired	is	recorded	as	goodwill.		Other	intangible	assets	with	
consideration	paid	over	the	fair	value	of	net	assets	acquired	is	recorded	as	goodwill.		Other	intangible	assets	with	
finite	useful	lives	are	amortized	either	on	an	accelerated	or	straight-line	basis	over	their	estimated	useful	lives.		
finite	useful	lives	are	amortized	either	on	an	accelerated	or	straight-line	basis	over	their	estimated	useful	lives.		
Goodwill	is	evaluated	for	impairment	on	an	annual	basis	at	October	1st	of	each	year	or	whenever	events	or	changes	
Goodwill	is	evaluated	for	impairment	on	an	annual	basis	at	October	1st	of	each	year	or	whenever	events	or	changes	
in	circumstances	indicate	that	the	carrying	value	may	not	be	recoverable.		Other	intangible	assets	are	reviewed	for	
in	circumstances	indicate	that	the	carrying	value	may	not	be	recoverable.		Other	intangible	assets	are	reviewed	for	
impairment	whenever	events	or	changes	in	circumstances	indicate	that	the	carrying	amount	of	the	asset	may	not	be	
impairment	whenever	events	or	changes	in	circumstances	indicate	that	the	carrying	amount	of	the	asset	may	not	be	
recoverable.
recoverable.

Operating	Leases	(Lessee)	—	Huntington	has	elected	not	to	include	non-lease	components	in	the	measurement	
Operating	Leases	(Lessee)	—	Huntington	has	elected	not	to	include	non-lease	components	in	the	measurement	

of	right-of-use	assets,	and	as	such	allocates	the	costs	attributable	to	such	components,	where	those	costs	are	not	
of	right-of-use	assets,	and	as	such	allocates	the	costs	attributable	to	such	components,	where	those	costs	are	not	
separately	identifiable,	via	per-square-foot	costing	analysis	developed	by	the	entity	for	owned	and	leased	spaces.		
separately	identifiable,	via	per-square-foot	costing	analysis	developed	by	the	entity	for	owned	and	leased	spaces.		
Huntington	uses	a	portfolio	approach	to	develop	discount	rates	as	its	lease	portfolio	is	comprised	of	substantially	all	
Huntington	uses	a	portfolio	approach	to	develop	discount	rates	as	its	lease	portfolio	is	comprised	of	substantially	all	
branch	space	and	office	space	used	in	the	entity’s	operations.		That	rate,	an	input	used	in	the	measurement	of	the	
branch	space	and	office	space	used	in	the	entity’s	operations.		That	rate,	an	input	used	in	the	measurement	of	the	
entity’s	right-of-use	assets,	leverages	an	incremental	borrowing	rate	of	appropriate	tenor	and	collateralization.
entity’s	right-of-use	assets,	leverages	an	incremental	borrowing	rate	of	appropriate	tenor	and	collateralization.

Derivative	Financial	Instruments	—	A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	
Derivative	Financial	Instruments	—	A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	

caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	
caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	
price	or	interest	rate	movements.		These	instruments	provide	flexibility	in	adjusting	Huntington’s	sensitivity	to	
price	or	interest	rate	movements.		These	instruments	provide	flexibility	in	adjusting	Huntington’s	sensitivity	to	
changes	in	interest	rates	without	exposure	to	loss	of	principal	and	higher	funding	requirements.
changes	in	interest	rates	without	exposure	to	loss	of	principal	and	higher	funding	requirements.

Huntington	also	uses	derivatives,	principally	loan	sale	commitments,	in	hedging	its	mortgage	loan	interest	rate	
Huntington	also	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	
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	Consolidated	Balance	Sheets	with	changes	in	fair	value	
rate	lock	commitments	are	carried	at	fair	value	on	the	Consolidated	Balance	Sheets	with	changes	in	fair	value	
reflected	in	mortgage	banking	income.		Huntington	also	uses	certain	derivative	financial	instruments	to	offset	
reflected	in	mortgage	banking	income.		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	
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	
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.
derivatives	are	recorded	at	fair	value	with	changes	in	fair	value	reflected	in	mortgage	banking	income.

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

(in	other	assets	and	other	liabilities,	respectively)	and	measured	at	fair	value.		On	the	date	a	derivative	contract	is	
(in	other	assets	and	other	liabilities,	respectively)	and	measured	at	fair	value.		On	the	date	a	derivative	contract	is	
entered	into,	we	designate	it	as	either:
entered	into,	we	designate	it	as	either:

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a	qualifying	hedge	of	the	fair	value	of	a	recognized	asset	or	liability	or	of	an	unrecognized	firm	commitment	
a	qualifying	hedge	of	the	fair	value	of	a	recognized	asset	or	liability	or	of	an	unrecognized	firm	commitment	
(fair	value	hedge);
(fair	value	hedge);
a	qualifying	hedge	of	the	variability	of	cash	flows	to	be	received	or	paid	related	to	a	recognized	asset,	liability	
a	qualifying	hedge	of	the	variability	of	cash	flows	to	be	received	or	paid	related	to	a	recognized	asset,	liability	
or	forecasted	transaction	(cash	flow	hedge);	or
or	forecasted	transaction	(cash	flow	hedge);	or
a	trading	instrument	or	a	non-qualifying	(economic)	hedge.
a	trading	instrument	or	a	non-qualifying	(economic)	hedge.

Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	fair	value	hedge,	along	with	
Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	fair	value	hedge,	along	with	

the	changes	in	the	fair	value	of	the	hedged	asset	or	liability	that	is	attributable	to	the	hedged	risk,	are	recorded	in	
the	changes	in	the	fair	value	of	the	hedged	asset	or	liability	that	is	attributable	to	the	hedged	risk,	are	recorded	in	
current	period	earnings.		Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	cash	
current	period	earnings.		Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	cash	
flow	hedge	are	recorded	in	other	comprehensive	income,	net	of	income	taxes,	and	reclassified	into	earnings	in	the	
flow	hedge	are	recorded	in	other	comprehensive	income,	net	of	income	taxes,	and	reclassified	into	earnings	in	the	
period	during	which	the	hedged	item	affects	earnings.		Changes	in	the	fair	value	of	derivatives	held	for	trading	
period	during	which	the	hedged	item	affects	earnings.		Changes	in	the	fair	value	of	derivatives	held	for	trading	
purposes	or	which	do	not	qualify	for	hedge	accounting	are	reported	in	current	period	earnings.
purposes	or	which	do	not	qualify	for	hedge	accounting	are	reported	in	current	period	earnings.

For	those	derivatives	to	which	hedge	accounting	is	applied,	Huntington	formally	documents	the	hedging	
For	those	derivatives	to	which	hedge	accounting	is	applied,	Huntington	formally	documents	the	hedging	

relationship	and	the	risk	management	objective	and	strategy	for	undertaking	the	hedge.		This	documentation	
relationship	and	the	risk	management	objective	and	strategy	for	undertaking	the	hedge.		This	documentation	
identifies	the	hedging	instrument,	the	hedged	item	or	transaction,	the	nature	of	the	risk	being	hedged,	and,	unless	
identifies	the	hedging	instrument,	the	hedged	item	or	transaction,	the	nature	of	the	risk	being	hedged,	and,	unless	

the	hedge	meets	all	of	the	criteria	to	assume	there	is	no	ineffectiveness,	the	method	that	will	be	used	to	assess	the	

the	hedge	meets	all	of	the	criteria	to	assume	there	is	no	ineffectiveness,	the	method	that	will	be	used	to	assess	the	

effectiveness	of	the	hedging	instrument.		Except	for	specifically	designated	fair	value	hedges	of	certain	fixed-rate	

effectiveness	of	the	hedging	instrument.		Except	for	specifically	designated	fair	value	hedges	of	certain	fixed-rate	

debt	for	which	Huntington	utilizes	the	short-cut	method	when	certain	criteria	are	met,	Huntington	utilizes	the	

debt	for	which	Huntington	utilizes	the	short-cut	method	when	certain	criteria	are	met,	Huntington	utilizes	the	

regression	method	to	evaluate	hedge	effectiveness	on	all	its	qualifying	hedges	on	a	quarterly	basis.		

regression	method	to	evaluate	hedge	effectiveness	on	all	its	qualifying	hedges	on	a	quarterly	basis.		

Hedge	accounting	is	discontinued	prospectively	when:

Hedge	accounting	is	discontinued	prospectively	when:

the	derivative	is	no	longer	effective	or	expected	to	be	effective	in	offsetting	changes	in	the	fair	value	or	cash	

the	derivative	is	no	longer	effective	or	expected	to	be	effective	in	offsetting	changes	in	the	fair	value	or	cash	

flows	of	a	hedged	item	(including	firm	commitments	or	forecasted	transactions);

flows	of	a	hedged	item	(including	firm	commitments	or	forecasted	transactions);

the	derivative	expires,	is	sold,	terminated,	or	exercised;

the	derivative	expires,	is	sold,	terminated,	or	exercised;

the	forecasted	transaction	is	no	longer	probable	of	occurring;

the	forecasted	transaction	is	no	longer	probable	of	occurring;

the	hedged	firm	commitment	no	longer	meets	the	definition	of	a	firm	commitment;	or

the	hedged	firm	commitment	no	longer	meets	the	definition	of	a	firm	commitment;	or

the	designation	of	the	derivative	as	a	hedging	instrument	is	removed.

the	designation	of	the	derivative	as	a	hedging	instrument	is	removed.

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When	hedge	accounting	is	discontinued	and	the	derivative	no	longer	qualifies	as	an	effective	fair	value	or	cash	

When	hedge	accounting	is	discontinued	and	the	derivative	no	longer	qualifies	as	an	effective	fair	value	or	cash	

flow	hedge,	the	derivative	continues	to	be	carried	on	the	balance	sheet	at	fair	value.

flow	hedge,	the	derivative	continues	to	be	carried	on	the	balance	sheet	at	fair	value.

In	the	case	of	a	discontinued	fair	value	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	

In	the	case	of	a	discontinued	fair	value	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	

continues	to	exist	on	the	balance	sheet,	the	hedged	item	will	no	longer	be	adjusted	for	changes	in	fair	value.		The	

continues	to	exist	on	the	balance	sheet,	the	hedged	item	will	no	longer	be	adjusted	for	changes	in	fair	value.		The	

basis	adjustment	that	had	previously	been	recorded	to	the	hedged	item	during	the	period	from	the	hedge	

basis	adjustment	that	had	previously	been	recorded	to	the	hedged	item	during	the	period	from	the	hedge	

designation	date	to	the	hedge	discontinuation	date	is	recognized	as	an	adjustment	to	the	yield	of	the	hedged	item	

designation	date	to	the	hedge	discontinuation	date	is	recognized	as	an	adjustment	to	the	yield	of	the	hedged	item	

over	the	remaining	life	of	the	hedged	item.

over	the	remaining	life	of	the	hedged	item.

In	the	case	of	a	discontinued	cash	flow	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	

In	the	case	of	a	discontinued	cash	flow	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	

continues	to	exist	on	the	balance	sheet,	the	changes	in	fair	value	of	the	hedging	derivative	will	no	longer	be	

continues	to	exist	on	the	balance	sheet,	the	changes	in	fair	value	of	the	hedging	derivative	will	no	longer	be	

recorded	to	other	comprehensive	income.		The	balance	applicable	to	the	discontinued	hedging	relationship	will	be	

recorded	to	other	comprehensive	income.		The	balance	applicable	to	the	discontinued	hedging	relationship	will	be	

recognized	in	earnings	over	the	remaining	life	of	the	hedged	item	as	an	adjustment	to	yield.		If	the	discontinued	

recognized	in	earnings	over	the	remaining	life	of	the	hedged	item	as	an	adjustment	to	yield.		If	the	discontinued	

hedged	item	was	a	forecasted	transaction	that	is	not	expected	to	occur,	any	amounts	recorded	in	accumulated	other	

hedged	item	was	a	forecasted	transaction	that	is	not	expected	to	occur,	any	amounts	recorded	in	accumulated	other	

comprehensive	income	are	immediately	reclassified	to	current	period	earnings.

comprehensive	income	are	immediately	reclassified	to	current	period	earnings.

In	the	case	of	either	a	fair	value	hedge	or	a	cash	flow	hedge,	if	the	previously	hedged	item	is	sold	or	

In	the	case	of	either	a	fair	value	hedge	or	a	cash	flow	hedge,	if	the	previously	hedged	item	is	sold	or	

extinguished,	the	basis	adjustment	to	the	underlying	asset	or	liability	or	any	remaining	unamortized	amount	in	

extinguished,	the	basis	adjustment	to	the	underlying	asset	or	liability	or	any	remaining	unamortized	amount	in	

accumulated	other	comprehensive	income	will	be	recognized	in	the	current	period	earnings.

accumulated	other	comprehensive	income	will	be	recognized	in	the	current	period	earnings.

In	all	other	situations	in	which	hedge	accounting	is	discontinued,	the	derivative	will	be	carried	at	fair	value	on	

In	all	other	situations	in	which	hedge	accounting	is	discontinued,	the	derivative	will	be	carried	at	fair	value	on	

the	consolidated	balance	sheets,	with	changes	in	its	fair	value	recognized	in	current	period	earnings	unless	re-

the	consolidated	balance	sheets,	with	changes	in	its	fair	value	recognized	in	current	period	earnings	unless	re-

designated	as	a	qualifying	hedge.

designated	as	a	qualifying	hedge.

Like	other	financial	instruments,	derivatives	contain	an	element	of	credit	risk,	which	is	the	possibility	that	

Like	other	financial	instruments,	derivatives	contain	an	element	of	credit	risk,	which	is	the	possibility	that	

Huntington	will	incur	a	loss	because	the	counterparty	fails	to	meet	its	contractual	obligations.		Notional	values	of	

Huntington	will	incur	a	loss	because	the	counterparty	fails	to	meet	its	contractual	obligations.		Notional	values	of	

interest	rate	swaps	and	other	off-balance	sheet	financial	instruments	significantly	exceed	the	credit	risk	associated	

interest	rate	swaps	and	other	off-balance	sheet	financial	instruments	significantly	exceed	the	credit	risk	associated	

with	these	instruments	and	represent	contractual	balances	on	which	calculations	of	amounts	to	be	exchanged	are	

with	these	instruments	and	represent	contractual	balances	on	which	calculations	of	amounts	to	be	exchanged	are	

based.		Credit	exposure	is	limited	to	the	sum	of	the	aggregate	fair	value	of	positions	that	have	become	favorable	to	

based.		Credit	exposure	is	limited	to	the	sum	of	the	aggregate	fair	value	of	positions	that	have	become	favorable	to	

Huntington,	including	any	accrued	interest	receivable	due	from	counterparties.		Potential	credit	losses	are	mitigated	

Huntington,	including	any	accrued	interest	receivable	due	from	counterparties.		Potential	credit	losses	are	mitigated	

through	trading	derivatives	through	central	clearing	parties,	careful	evaluation	of	counterparty	credit	standing,	

through	trading	derivatives	through	central	clearing	parties,	careful	evaluation	of	counterparty	credit	standing,	

selection	of	counterparties	from	a	limited	group	of	high	quality	institutions,	collateral	agreements,	and	other	

selection	of	counterparties	from	a	limited	group	of	high	quality	institutions,	collateral	agreements,	and	other	

contract	provisions.		Huntington	considers	the	value	of	collateral	held	and	collateral	provided	in	determining	the	net	

contract	provisions.		Huntington	considers	the	value	of	collateral	held	and	collateral	provided	in	determining	the	net	

carrying	value	of	derivatives.

carrying	value	of	derivatives.

Huntington	offsets	the	fair	value	amounts	recognized	for	derivative	instruments	and	the	fair	value	for	the	right	

Huntington	offsets	the	fair	value	amounts	recognized	for	derivative	instruments	and	the	fair	value	for	the	right	

to	reclaim	cash	collateral	or	the	obligation	to	return	cash	collateral	arising	from	derivative	instruments	recognized	at	

to	reclaim	cash	collateral	or	the	obligation	to	return	cash	collateral	arising	from	derivative	instruments	recognized	at	

fair	value	executed	with	the	same	counterparty	under	a	master	netting	arrangement.

fair	value	executed	with	the	same	counterparty	under	a	master	netting	arrangement.

Fair	Value	Measurements	—	The	Company	records	or	discloses	certain	of	its	assets	and	liabilities	at	fair	value.		

Fair	Value	Measurements	—	The	Company	records	or	discloses	certain	of	its	assets	and	liabilities	at	fair	value.		

Fair	value	is	defined	as	the	exchange	price	that	would	be	received	for	an	asset	or	paid	to	transfer	a	liability	(an	exit	

Fair	value	is	defined	as	the	exchange	price	that	would	be	received	for	an	asset	or	paid	to	transfer	a	liability	(an	exit	

price)	in	the	principal	or	most	advantageous	market	for	the	asset	or	liability	in	an	orderly	transaction	between	

price)	in	the	principal	or	most	advantageous	market	for	the	asset	or	liability	in	an	orderly	transaction	between	

market	participants	on	the	measurement	date.		Fair	value	measurements	are	classified	within	one	of	three	levels	in	a	

market	participants	on	the	measurement	date.		Fair	value	measurements	are	classified	within	one	of	three	levels	in	a	

valuation	hierarchy	based	upon	the	observability	of	inputs	to	the	valuation	of	an	asset	or	liability	as	of	the	

valuation	hierarchy	based	upon	the	observability	of	inputs	to	the	valuation	of	an	asset	or	liability	as	of	the	

measurement	date.		The	three	levels	are	defined	as	follows:

measurement	date.		The	three	levels	are	defined	as	follows:

116					Huntington	Bancshares	Incorporated
116					Huntington	Bancshares	Incorporated

2020	Form	10-K					117

2020	Form	10-K					117

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Hedge	accounting	is	discontinued	prospectively	when:
Hedge	accounting	is	discontinued	prospectively	when:
•
•

the	hedge	meets	all	of	the	criteria	to	assume	there	is	no	ineffectiveness,	the	method	that	will	be	used	to	assess	the	
the	hedge	meets	all	of	the	criteria	to	assume	there	is	no	ineffectiveness,	the	method	that	will	be	used	to	assess	the	
effectiveness	of	the	hedging	instrument.		Except	for	specifically	designated	fair	value	hedges	of	certain	fixed-rate	
effectiveness	of	the	hedging	instrument.		Except	for	specifically	designated	fair	value	hedges	of	certain	fixed-rate	
debt	for	which	Huntington	utilizes	the	short-cut	method	when	certain	criteria	are	met,	Huntington	utilizes	the	
debt	for	which	Huntington	utilizes	the	short-cut	method	when	certain	criteria	are	met,	Huntington	utilizes	the	
regression	method	to	evaluate	hedge	effectiveness	on	all	its	qualifying	hedges	on	a	quarterly	basis.		
regression	method	to	evaluate	hedge	effectiveness	on	all	its	qualifying	hedges	on	a	quarterly	basis.		

the	derivative	is	no	longer	effective	or	expected	to	be	effective	in	offsetting	changes	in	the	fair	value	or	cash	
the	derivative	is	no	longer	effective	or	expected	to	be	effective	in	offsetting	changes	in	the	fair	value	or	cash	
flows	of	a	hedged	item	(including	firm	commitments	or	forecasted	transactions);
flows	of	a	hedged	item	(including	firm	commitments	or	forecasted	transactions);
the	derivative	expires,	is	sold,	terminated,	or	exercised;
the	derivative	expires,	is	sold,	terminated,	or	exercised;
the	forecasted	transaction	is	no	longer	probable	of	occurring;
the	forecasted	transaction	is	no	longer	probable	of	occurring;
the	hedged	firm	commitment	no	longer	meets	the	definition	of	a	firm	commitment;	or
the	hedged	firm	commitment	no	longer	meets	the	definition	of	a	firm	commitment;	or
the	designation	of	the	derivative	as	a	hedging	instrument	is	removed.
the	designation	of	the	derivative	as	a	hedging	instrument	is	removed.

servicing	rights	retained	or	when	purchased.		MSRs	are	included	in	servicing	rights	and	other	intangible	assets	in	the	

servicing	rights	retained	or	when	purchased.		MSRs	are	included	in	servicing	rights	and	other	intangible	assets	in	the	

Consolidated	Balance	Sheets.		At	the	time	of	initial	capitalization,	MSRs	may	be	grouped	into	servicing	classes	based	

Consolidated	Balance	Sheets.		At	the	time	of	initial	capitalization,	MSRs	may	be	grouped	into	servicing	classes	based	

on	the	availability	of	market	inputs	used	in	determining	fair	value	and	the	method	used	for	managing	the	risks	of	the	

on	the	availability	of	market	inputs	used	in	determining	fair	value	and	the	method	used	for	managing	the	risks	of	the	

servicing	assets.		All	MSR	assets	are	recorded	using	the	fair	value	method.		Any	change	in	the	fair	value	of	MSRs	

servicing	assets.		All	MSR	assets	are	recorded	using	the	fair	value	method.		Any	change	in	the	fair	value	of	MSRs	

during	the	period	is	recorded	in	mortgage	banking	income.		Huntington	economically	hedges	the	value	of	certain	

during	the	period	is	recorded	in	mortgage	banking	income.		Huntington	economically	hedges	the	value	of	certain	

MSRs	using	derivative	instruments	and	trading	securities.		Changes	in	fair	value	of	these	derivatives	and	trading	

MSRs	using	derivative	instruments	and	trading	securities.		Changes	in	fair	value	of	these	derivatives	and	trading	

securities	are	reported	as	a	component	of	mortgage	banking	income.

securities	are	reported	as	a	component	of	mortgage	banking	income.

Goodwill	and	Other	Intangible	Assets	—	Under	the	acquisition	method	of	accounting,	the	net	assets	of	entities	

Goodwill	and	Other	Intangible	Assets	—	Under	the	acquisition	method	of	accounting,	the	net	assets	of	entities	

acquired	by	Huntington	are	recorded	at	their	estimated	fair	value	at	the	date	of	acquisition.		The	excess	cost	of	

acquired	by	Huntington	are	recorded	at	their	estimated	fair	value	at	the	date	of	acquisition.		The	excess	cost	of	

consideration	paid	over	the	fair	value	of	net	assets	acquired	is	recorded	as	goodwill.		Other	intangible	assets	with	

consideration	paid	over	the	fair	value	of	net	assets	acquired	is	recorded	as	goodwill.		Other	intangible	assets	with	

finite	useful	lives	are	amortized	either	on	an	accelerated	or	straight-line	basis	over	their	estimated	useful	lives.		

finite	useful	lives	are	amortized	either	on	an	accelerated	or	straight-line	basis	over	their	estimated	useful	lives.		

Goodwill	is	evaluated	for	impairment	on	an	annual	basis	at	October	1st	of	each	year	or	whenever	events	or	changes	

Goodwill	is	evaluated	for	impairment	on	an	annual	basis	at	October	1st	of	each	year	or	whenever	events	or	changes	

in	circumstances	indicate	that	the	carrying	value	may	not	be	recoverable.		Other	intangible	assets	are	reviewed	for	

in	circumstances	indicate	that	the	carrying	value	may	not	be	recoverable.		Other	intangible	assets	are	reviewed	for	

impairment	whenever	events	or	changes	in	circumstances	indicate	that	the	carrying	amount	of	the	asset	may	not	be	

impairment	whenever	events	or	changes	in	circumstances	indicate	that	the	carrying	amount	of	the	asset	may	not	be	

recoverable.

recoverable.

Operating	Leases	(Lessee)	—	Huntington	has	elected	not	to	include	non-lease	components	in	the	measurement	

Operating	Leases	(Lessee)	—	Huntington	has	elected	not	to	include	non-lease	components	in	the	measurement	

of	right-of-use	assets,	and	as	such	allocates	the	costs	attributable	to	such	components,	where	those	costs	are	not	

of	right-of-use	assets,	and	as	such	allocates	the	costs	attributable	to	such	components,	where	those	costs	are	not	

separately	identifiable,	via	per-square-foot	costing	analysis	developed	by	the	entity	for	owned	and	leased	spaces.		

separately	identifiable,	via	per-square-foot	costing	analysis	developed	by	the	entity	for	owned	and	leased	spaces.		

Huntington	uses	a	portfolio	approach	to	develop	discount	rates	as	its	lease	portfolio	is	comprised	of	substantially	all	

Huntington	uses	a	portfolio	approach	to	develop	discount	rates	as	its	lease	portfolio	is	comprised	of	substantially	all	

branch	space	and	office	space	used	in	the	entity’s	operations.		That	rate,	an	input	used	in	the	measurement	of	the	

branch	space	and	office	space	used	in	the	entity’s	operations.		That	rate,	an	input	used	in	the	measurement	of	the	

entity’s	right-of-use	assets,	leverages	an	incremental	borrowing	rate	of	appropriate	tenor	and	collateralization.

entity’s	right-of-use	assets,	leverages	an	incremental	borrowing	rate	of	appropriate	tenor	and	collateralization.

Derivative	Financial	Instruments	—	A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	

Derivative	Financial	Instruments	—	A	variety	of	derivative	financial	instruments,	principally	interest	rate	swaps,	

caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	

caps,	floors,	and	collars,	are	used	in	asset	and	liability	management	activities	to	protect	against	the	risk	of	adverse	

price	or	interest	rate	movements.		These	instruments	provide	flexibility	in	adjusting	Huntington’s	sensitivity	to	

price	or	interest	rate	movements.		These	instruments	provide	flexibility	in	adjusting	Huntington’s	sensitivity	to	

changes	in	interest	rates	without	exposure	to	loss	of	principal	and	higher	funding	requirements.

changes	in	interest	rates	without	exposure	to	loss	of	principal	and	higher	funding	requirements.

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

Huntington	also	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	

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	Consolidated	Balance	Sheets	with	changes	in	fair	value	

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

reflected	in	mortgage	banking	income.		Huntington	also	uses	certain	derivative	financial	instruments	to	offset	

reflected	in	mortgage	banking	income.		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	

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	

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.

derivatives	are	recorded	at	fair	value	with	changes	in	fair	value	reflected	in	mortgage	banking	income.

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

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

(in	other	assets	and	other	liabilities,	respectively)	and	measured	at	fair	value.		On	the	date	a	derivative	contract	is	

(in	other	assets	and	other	liabilities,	respectively)	and	measured	at	fair	value.		On	the	date	a	derivative	contract	is	

a	qualifying	hedge	of	the	fair	value	of	a	recognized	asset	or	liability	or	of	an	unrecognized	firm	commitment	

a	qualifying	hedge	of	the	fair	value	of	a	recognized	asset	or	liability	or	of	an	unrecognized	firm	commitment	

entered	into,	we	designate	it	as	either:

entered	into,	we	designate	it	as	either:

(fair	value	hedge);

(fair	value	hedge);

•

•

•

•

•

•

a	qualifying	hedge	of	the	variability	of	cash	flows	to	be	received	or	paid	related	to	a	recognized	asset,	liability	

a	qualifying	hedge	of	the	variability	of	cash	flows	to	be	received	or	paid	related	to	a	recognized	asset,	liability	

or	forecasted	transaction	(cash	flow	hedge);	or

or	forecasted	transaction	(cash	flow	hedge);	or

a	trading	instrument	or	a	non-qualifying	(economic)	hedge.

a	trading	instrument	or	a	non-qualifying	(economic)	hedge.

Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	fair	value	hedge,	along	with	

Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	fair	value	hedge,	along	with	

the	changes	in	the	fair	value	of	the	hedged	asset	or	liability	that	is	attributable	to	the	hedged	risk,	are	recorded	in	

the	changes	in	the	fair	value	of	the	hedged	asset	or	liability	that	is	attributable	to	the	hedged	risk,	are	recorded	in	

current	period	earnings.		Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	cash	

current	period	earnings.		Changes	in	the	fair	value	of	a	derivative	that	has	been	designated	and	qualifies	as	a	cash	

flow	hedge	are	recorded	in	other	comprehensive	income,	net	of	income	taxes,	and	reclassified	into	earnings	in	the	

flow	hedge	are	recorded	in	other	comprehensive	income,	net	of	income	taxes,	and	reclassified	into	earnings	in	the	

period	during	which	the	hedged	item	affects	earnings.		Changes	in	the	fair	value	of	derivatives	held	for	trading	

period	during	which	the	hedged	item	affects	earnings.		Changes	in	the	fair	value	of	derivatives	held	for	trading	

purposes	or	which	do	not	qualify	for	hedge	accounting	are	reported	in	current	period	earnings.

purposes	or	which	do	not	qualify	for	hedge	accounting	are	reported	in	current	period	earnings.

For	those	derivatives	to	which	hedge	accounting	is	applied,	Huntington	formally	documents	the	hedging	

For	those	derivatives	to	which	hedge	accounting	is	applied,	Huntington	formally	documents	the	hedging	

relationship	and	the	risk	management	objective	and	strategy	for	undertaking	the	hedge.		This	documentation	

relationship	and	the	risk	management	objective	and	strategy	for	undertaking	the	hedge.		This	documentation	

identifies	the	hedging	instrument,	the	hedged	item	or	transaction,	the	nature	of	the	risk	being	hedged,	and,	unless	

identifies	the	hedging	instrument,	the	hedged	item	or	transaction,	the	nature	of	the	risk	being	hedged,	and,	unless	

When	hedge	accounting	is	discontinued	and	the	derivative	no	longer	qualifies	as	an	effective	fair	value	or	cash	
When	hedge	accounting	is	discontinued	and	the	derivative	no	longer	qualifies	as	an	effective	fair	value	or	cash	

flow	hedge,	the	derivative	continues	to	be	carried	on	the	balance	sheet	at	fair	value.
flow	hedge,	the	derivative	continues	to	be	carried	on	the	balance	sheet	at	fair	value.

In	the	case	of	a	discontinued	fair	value	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	
In	the	case	of	a	discontinued	fair	value	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	
continues	to	exist	on	the	balance	sheet,	the	hedged	item	will	no	longer	be	adjusted	for	changes	in	fair	value.		The	
continues	to	exist	on	the	balance	sheet,	the	hedged	item	will	no	longer	be	adjusted	for	changes	in	fair	value.		The	
basis	adjustment	that	had	previously	been	recorded	to	the	hedged	item	during	the	period	from	the	hedge	
basis	adjustment	that	had	previously	been	recorded	to	the	hedged	item	during	the	period	from	the	hedge	
designation	date	to	the	hedge	discontinuation	date	is	recognized	as	an	adjustment	to	the	yield	of	the	hedged	item	
designation	date	to	the	hedge	discontinuation	date	is	recognized	as	an	adjustment	to	the	yield	of	the	hedged	item	
over	the	remaining	life	of	the	hedged	item.
over	the	remaining	life	of	the	hedged	item.

In	the	case	of	a	discontinued	cash	flow	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	
In	the	case	of	a	discontinued	cash	flow	hedge	of	a	recognized	asset	or	liability,	as	long	as	the	hedged	item	

continues	to	exist	on	the	balance	sheet,	the	changes	in	fair	value	of	the	hedging	derivative	will	no	longer	be	
continues	to	exist	on	the	balance	sheet,	the	changes	in	fair	value	of	the	hedging	derivative	will	no	longer	be	
recorded	to	other	comprehensive	income.		The	balance	applicable	to	the	discontinued	hedging	relationship	will	be	
recorded	to	other	comprehensive	income.		The	balance	applicable	to	the	discontinued	hedging	relationship	will	be	
recognized	in	earnings	over	the	remaining	life	of	the	hedged	item	as	an	adjustment	to	yield.		If	the	discontinued	
recognized	in	earnings	over	the	remaining	life	of	the	hedged	item	as	an	adjustment	to	yield.		If	the	discontinued	
hedged	item	was	a	forecasted	transaction	that	is	not	expected	to	occur,	any	amounts	recorded	in	accumulated	other	
hedged	item	was	a	forecasted	transaction	that	is	not	expected	to	occur,	any	amounts	recorded	in	accumulated	other	
comprehensive	income	are	immediately	reclassified	to	current	period	earnings.
comprehensive	income	are	immediately	reclassified	to	current	period	earnings.

In	the	case	of	either	a	fair	value	hedge	or	a	cash	flow	hedge,	if	the	previously	hedged	item	is	sold	or	
In	the	case	of	either	a	fair	value	hedge	or	a	cash	flow	hedge,	if	the	previously	hedged	item	is	sold	or	

extinguished,	the	basis	adjustment	to	the	underlying	asset	or	liability	or	any	remaining	unamortized	amount	in	
extinguished,	the	basis	adjustment	to	the	underlying	asset	or	liability	or	any	remaining	unamortized	amount	in	
accumulated	other	comprehensive	income	will	be	recognized	in	the	current	period	earnings.
accumulated	other	comprehensive	income	will	be	recognized	in	the	current	period	earnings.

In	all	other	situations	in	which	hedge	accounting	is	discontinued,	the	derivative	will	be	carried	at	fair	value	on	
In	all	other	situations	in	which	hedge	accounting	is	discontinued,	the	derivative	will	be	carried	at	fair	value	on	

the	consolidated	balance	sheets,	with	changes	in	its	fair	value	recognized	in	current	period	earnings	unless	re-
the	consolidated	balance	sheets,	with	changes	in	its	fair	value	recognized	in	current	period	earnings	unless	re-
designated	as	a	qualifying	hedge.
designated	as	a	qualifying	hedge.

Like	other	financial	instruments,	derivatives	contain	an	element	of	credit	risk,	which	is	the	possibility	that	
Like	other	financial	instruments,	derivatives	contain	an	element	of	credit	risk,	which	is	the	possibility	that	
Huntington	will	incur	a	loss	because	the	counterparty	fails	to	meet	its	contractual	obligations.		Notional	values	of	
Huntington	will	incur	a	loss	because	the	counterparty	fails	to	meet	its	contractual	obligations.		Notional	values	of	
interest	rate	swaps	and	other	off-balance	sheet	financial	instruments	significantly	exceed	the	credit	risk	associated	
interest	rate	swaps	and	other	off-balance	sheet	financial	instruments	significantly	exceed	the	credit	risk	associated	
with	these	instruments	and	represent	contractual	balances	on	which	calculations	of	amounts	to	be	exchanged	are	
with	these	instruments	and	represent	contractual	balances	on	which	calculations	of	amounts	to	be	exchanged	are	
based.		Credit	exposure	is	limited	to	the	sum	of	the	aggregate	fair	value	of	positions	that	have	become	favorable	to	
based.		Credit	exposure	is	limited	to	the	sum	of	the	aggregate	fair	value	of	positions	that	have	become	favorable	to	
Huntington,	including	any	accrued	interest	receivable	due	from	counterparties.		Potential	credit	losses	are	mitigated	
Huntington,	including	any	accrued	interest	receivable	due	from	counterparties.		Potential	credit	losses	are	mitigated	
through	trading	derivatives	through	central	clearing	parties,	careful	evaluation	of	counterparty	credit	standing,	
through	trading	derivatives	through	central	clearing	parties,	careful	evaluation	of	counterparty	credit	standing,	
selection	of	counterparties	from	a	limited	group	of	high	quality	institutions,	collateral	agreements,	and	other	
selection	of	counterparties	from	a	limited	group	of	high	quality	institutions,	collateral	agreements,	and	other	
contract	provisions.		Huntington	considers	the	value	of	collateral	held	and	collateral	provided	in	determining	the	net	
contract	provisions.		Huntington	considers	the	value	of	collateral	held	and	collateral	provided	in	determining	the	net	
carrying	value	of	derivatives.
carrying	value	of	derivatives.

Huntington	offsets	the	fair	value	amounts	recognized	for	derivative	instruments	and	the	fair	value	for	the	right	
Huntington	offsets	the	fair	value	amounts	recognized	for	derivative	instruments	and	the	fair	value	for	the	right	
to	reclaim	cash	collateral	or	the	obligation	to	return	cash	collateral	arising	from	derivative	instruments	recognized	at	
to	reclaim	cash	collateral	or	the	obligation	to	return	cash	collateral	arising	from	derivative	instruments	recognized	at	
fair	value	executed	with	the	same	counterparty	under	a	master	netting	arrangement.
fair	value	executed	with	the	same	counterparty	under	a	master	netting	arrangement.

Fair	Value	Measurements	—	The	Company	records	or	discloses	certain	of	its	assets	and	liabilities	at	fair	value.		
Fair	Value	Measurements	—	The	Company	records	or	discloses	certain	of	its	assets	and	liabilities	at	fair	value.		
Fair	value	is	defined	as	the	exchange	price	that	would	be	received	for	an	asset	or	paid	to	transfer	a	liability	(an	exit	
Fair	value	is	defined	as	the	exchange	price	that	would	be	received	for	an	asset	or	paid	to	transfer	a	liability	(an	exit	
price)	in	the	principal	or	most	advantageous	market	for	the	asset	or	liability	in	an	orderly	transaction	between	
price)	in	the	principal	or	most	advantageous	market	for	the	asset	or	liability	in	an	orderly	transaction	between	
market	participants	on	the	measurement	date.		Fair	value	measurements	are	classified	within	one	of	three	levels	in	a	
market	participants	on	the	measurement	date.		Fair	value	measurements	are	classified	within	one	of	three	levels	in	a	
valuation	hierarchy	based	upon	the	observability	of	inputs	to	the	valuation	of	an	asset	or	liability	as	of	the	
valuation	hierarchy	based	upon	the	observability	of	inputs	to	the	valuation	of	an	asset	or	liability	as	of	the	
measurement	date.		The	three	levels	are	defined	as	follows:
measurement	date.		The	three	levels	are	defined	as	follows:

116					Huntington	Bancshares	Incorporated

116					Huntington	Bancshares	Incorporated

2020	Form	10-K					117
2020	Form	10-K					117

•
•

•
•

•
•

Level	1	–	inputs	to	the	valuation	methodology	are	quoted	prices	(unadjusted)	for	identical	assets	or	liabilities	
Level	1	–	inputs	to	the	valuation	methodology	are	quoted	prices	(unadjusted)	for	identical	assets	or	liabilities	
in	active	markets.
in	active	markets.
Level	2	–	inputs	to	the	valuation	methodology	include	quoted	prices	for	similar	assets	and	liabilities	in	active	
Level	2	–	inputs	to	the	valuation	methodology	include	quoted	prices	for	similar	assets	and	liabilities	in	active	
markets,	and	inputs	that	are	observable	for	the	asset	or	liability,	either	directly	or	indirectly,	for	substantially	
markets,	and	inputs	that	are	observable	for	the	asset	or	liability,	either	directly	or	indirectly,	for	substantially	
the	full	term	of	the	financial	instrument.
the	full	term	of	the	financial	instrument.
Level	3	–	inputs	to	the	valuation	methodology	are	unobservable	and	significant	to	the	fair	value	
Level	3	–	inputs	to	the	valuation	methodology	are	unobservable	and	significant	to	the	fair	value	
measurement.
measurement.

A	financial	instrument’s	categorization	within	the	valuation	hierarchy	is	based	upon	the	lowest	level	of	input	that	
A	financial	instrument’s	categorization	within	the	valuation	hierarchy	is	based	upon	the	lowest	level	of	input	that	

is	significant	to	the	fair	value	measurement.
is	significant	to	the	fair	value	measurement.

Bank	Owned	Life	Insurance	—	Huntington’s	bank	owned	life	insurance	policies	are	recorded	at	their	cash	
Bank	Owned	Life	Insurance	—	Huntington’s	bank	owned	life	insurance	policies	are	recorded	at	their	cash	
surrender	value.		Huntington	recognizes	tax-exempt	income	from	the	periodic	increases	in	the	cash	surrender	value	
surrender	value.		Huntington	recognizes	tax-exempt	income	from	the	periodic	increases	in	the	cash	surrender	value	
of	these	policies	and	from	death	benefits.		A	portion	of	the	cash	surrender	value	is	supported	by	holdings	in	separate	
of	these	policies	and	from	death	benefits.		A	portion	of	the	cash	surrender	value	is	supported	by	holdings	in	separate	
accounts.		Book	value	protection	for	the	separate	accounts	is	provided	by	the	insurance	carriers	and	a	highly	rated	
accounts.		Book	value	protection	for	the	separate	accounts	is	provided	by	the	insurance	carriers	and	a	highly	rated	
major	bank.
major	bank.

Transfers	of	Financial	Assets	and	Securitizations	—	Transfers	of	financial	assets	in	which	we	have	surrendered	
Transfers	of	Financial	Assets	and	Securitizations	—	Transfers	of	financial	assets	in	which	we	have	surrendered	
control	over	the	transferred	assets	are	accounted	for	as	sales.		In	assessing	whether	control	has	been	surrendered,	
control	over	the	transferred	assets	are	accounted	for	as	sales.		In	assessing	whether	control	has	been	surrendered,	
Huntington	considers	whether	the	transferee	would	be	a	consolidated	affiliate,	the	existence	and	extent	of	any	
Huntington	considers	whether	the	transferee	would	be	a	consolidated	affiliate,	the	existence	and	extent	of	any	
continuing	involvement	in	the	transferred	financial	assets,	and	the	impact	of	all	arrangements	or	agreements	made	
continuing	involvement	in	the	transferred	financial	assets,	and	the	impact	of	all	arrangements	or	agreements	made	
contemporaneously	with,	or	in	contemplation	of,	the	transfer,	even	if	they	were	not	entered	into	at	the	time	of	
contemporaneously	with,	or	in	contemplation	of,	the	transfer,	even	if	they	were	not	entered	into	at	the	time	of	
transfer.		Control	is	generally	considered	to	have	been	surrendered	when	(i)	the	transferred	assets	have	been	legally	
transfer.		Control	is	generally	considered	to	have	been	surrendered	when	(i)	the	transferred	assets	have	been	legally	
isolated	from	Huntington	or	any	of	its	consolidated	affiliates,	even	in	bankruptcy	or	other	receivership,	(ii)	the	
isolated	from	Huntington	or	any	of	its	consolidated	affiliates,	even	in	bankruptcy	or	other	receivership,	(ii)	the	
transferee	(or,	if	the	transferee	is	an	entity	whose	sole	purpose	is	to	engage	in	securitization	or	asset-backed	
transferee	(or,	if	the	transferee	is	an	entity	whose	sole	purpose	is	to	engage	in	securitization	or	asset-backed	
financing	that	is	constrained	from	pledging	or	exchanging	the	assets	it	receives,	each	third-party	holder	of	its	
financing	that	is	constrained	from	pledging	or	exchanging	the	assets	it	receives,	each	third-party	holder	of	its	
beneficial	interests)	has	the	right	to	pledge	or	exchange	the	assets	(or	beneficial	interests)	it	received	without	any	
beneficial	interests)	has	the	right	to	pledge	or	exchange	the	assets	(or	beneficial	interests)	it	received	without	any	
constraints	that	provide	more	than	a	trivial	benefit	to	Huntington,	and	(iii)	neither	Huntington	nor	its	consolidated	
constraints	that	provide	more	than	a	trivial	benefit	to	Huntington,	and	(iii)	neither	Huntington	nor	its	consolidated	
affiliates	and	agents	have	(a)	both	the	right	and	obligation	under	any	agreement	to	repurchase	or	redeem	the	
affiliates	and	agents	have	(a)	both	the	right	and	obligation	under	any	agreement	to	repurchase	or	redeem	the	
transferred	assets	before	their	maturity,	(b)	the	unilateral	ability	to	cause	the	holder	to	return	specific	financial	
transferred	assets	before	their	maturity,	(b)	the	unilateral	ability	to	cause	the	holder	to	return	specific	financial	
assets	that	also	provides	Huntington	with	a	more-than-trivial	benefit	(other	than	through	a	cleanup	call)	or	(c)	an	
assets	that	also	provides	Huntington	with	a	more-than-trivial	benefit	(other	than	through	a	cleanup	call)	or	(c)	an	
agreement	that	permits	the	transferee	to	require	Huntington	to	repurchase	the	transferred	assets	at	a	price	so	
agreement	that	permits	the	transferee	to	require	Huntington	to	repurchase	the	transferred	assets	at	a	price	so	
favorable	that	it	is	probable	that	it	will	require	Huntington	to	repurchase	them.
favorable	that	it	is	probable	that	it	will	require	Huntington	to	repurchase	them.

If	the	sale	criteria	are	met,	the	transferred	financial	assets	are	removed	from	the	balance	sheet	and	a	gain	or	loss	
If	the	sale	criteria	are	met,	the	transferred	financial	assets	are	removed	from	the	balance	sheet	and	a	gain	or	loss	

on	sale	is	recognized.		If	the	sale	criteria	are	not	met,	the	transfer	is	recorded	as	a	secured	borrowing	in	which	the	
on	sale	is	recognized.		If	the	sale	criteria	are	not	met,	the	transfer	is	recorded	as	a	secured	borrowing	in	which	the	
assets	remain	on	the	balance	sheet	and	the	proceeds	from	the	transaction	are	recognized	as	a	liability.		For	the	
assets	remain	on	the	balance	sheet	and	the	proceeds	from	the	transaction	are	recognized	as	a	liability.		For	the	
majority	of	financial	asset	transfers,	it	is	clear	whether	or	not	Huntington	has	surrendered	control.		For	other	
majority	of	financial	asset	transfers,	it	is	clear	whether	or	not	Huntington	has	surrendered	control.		For	other	
transfers,	such	as	in	the	case	of	complex	transactions	or	where	Huntington	have	continuing	involvement,	we	
transfers,	such	as	in	the	case	of	complex	transactions	or	where	Huntington	have	continuing	involvement,	we	
generally	obtain	a	legal	opinion	as	to	whether	the	transfer	results	in	a	true	sale	by	law.
generally	obtain	a	legal	opinion	as	to	whether	the	transfer	results	in	a	true	sale	by	law.

Gains	and	losses	on	the	loans	and	leases	sold	and	servicing	rights	associated	with	loan	and	lease	sales	are	
Gains	and	losses	on	the	loans	and	leases	sold	and	servicing	rights	associated	with	loan	and	lease	sales	are	

determined	when	the	related	loans	or	leases	are	sold	to	either	a	securitization	trust	or	third-party.		For	loan	or	lease	
determined	when	the	related	loans	or	leases	are	sold	to	either	a	securitization	trust	or	third-party.		For	loan	or	lease	
sales	with	servicing	retained,	a	servicing	asset	is	recorded	at	fair	value	for	the	right	to	service	the	loans	sold.
sales	with	servicing	retained,	a	servicing	asset	is	recorded	at	fair	value	for	the	right	to	service	the	loans	sold.

Pension	and	Other	Postretirement	Benefits	—	Huntington	recognizes	the	funded	status	of	the	postretirement	
Pension	and	Other	Postretirement	Benefits	—	Huntington	recognizes	the	funded	status	of	the	postretirement	

benefit	plans	on	the	Consolidated	Balance	Sheets.		Net	postretirement	benefit	cost	charged	to	current	earnings	
benefit	plans	on	the	Consolidated	Balance	Sheets.		Net	postretirement	benefit	cost	charged	to	current	earnings	
related	to	these	plans	is	predominantly	based	on	various	actuarial	assumptions	regarding	expected	future	
related	to	these	plans	is	predominantly	based	on	various	actuarial	assumptions	regarding	expected	future	
experience.
experience.

Certain	employees	are	participants	in	various	defined	contribution	and	other	non-qualified	supplemental	
Certain	employees	are	participants	in	various	defined	contribution	and	other	non-qualified	supplemental	

retirement	plans.		Contributions	to	defined	contribution	plans	are	charged	to	current	earnings.		
retirement	plans.		Contributions	to	defined	contribution	plans	are	charged	to	current	earnings.		

In	addition,	Huntington	maintains	a	401(k)	plan	covering	substantially	all	employees.		Employer	contributions	to	
In	addition,	Huntington	maintains	a	401(k)	plan	covering	substantially	all	employees.		Employer	contributions	to	

the	plan	are	charged	to	current	earnings.
the	plan	are	charged	to	current	earnings.

Noninterest	Income	—	Huntington	recognizes	revenue	when	the	performance	obligations	related	to	the	

Noninterest	Income	—	Huntington	recognizes	revenue	when	the	performance	obligations	related	to	the	

transfer	of	goods	or	services	under	the	terms	of	a	contract	are	satisfied.		Some	obligations	are	satisfied	at	a	point	in	

transfer	of	goods	or	services	under	the	terms	of	a	contract	are	satisfied.		Some	obligations	are	satisfied	at	a	point	in	

time	while	others	are	satisfied	over	a	period	of	time.		Revenue	is	recognized	as	the	amount	of	consideration	to	which	

time	while	others	are	satisfied	over	a	period	of	time.		Revenue	is	recognized	as	the	amount	of	consideration	to	which	

Huntington	expects	to	be	entitled	to	in	exchange	for	transferring	goods	or	services	to	a	customer.		When	

Huntington	expects	to	be	entitled	to	in	exchange	for	transferring	goods	or	services	to	a	customer.		When	

consideration	includes	a	variable	component,	the	amount	of	consideration	attributable	to	variability	is	included	in	

consideration	includes	a	variable	component,	the	amount	of	consideration	attributable	to	variability	is	included	in	

the	transaction	price	only	to	the	extent	it	is	probable	that	significant	revenue	recognized	will	not	be	reversed	when	

the	transaction	price	only	to	the	extent	it	is	probable	that	significant	revenue	recognized	will	not	be	reversed	when	

uncertainty	associated	with	the	variable	consideration	is	subsequently	resolved.		Generally,	the	variability	relating	to	

uncertainty	associated	with	the	variable	consideration	is	subsequently	resolved.		Generally,	the	variability	relating	to	

the	consideration	is	explicitly	stated	in	the	contracts,	but	may	also	arise	from	Huntington’s	customer	business	

the	consideration	is	explicitly	stated	in	the	contracts,	but	may	also	arise	from	Huntington’s	customer	business	

practices,	for	example,	waiving	certain	fees	related	to	customer’s	deposit	accounts	such	as	NSF	fees.		Huntington’s	

practices,	for	example,	waiving	certain	fees	related	to	customer’s	deposit	accounts	such	as	NSF	fees.		Huntington’s	

contracts	generally	do	not	contain	terms	that	require	significant	judgement	to	determine	the	variability	impacting	

contracts	generally	do	not	contain	terms	that	require	significant	judgement	to	determine	the	variability	impacting	

the	transaction	price.		

the	transaction	price.		

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

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

Revenue	from	contracts	with	customers	is	broadly	segregated	as	follows:	

Revenue	from	contracts	with	customers	is	broadly	segregated	as	follows:	

•

•

Service	charges	on	deposit	accounts	include	fees	and	other	charges	Huntington	receives	to	provide	various	

Service	charges	on	deposit	accounts	include	fees	and	other	charges	Huntington	receives	to	provide	various	

services,	including	but	not	limited	to,	maintaining	an	account	with	a	customer,	providing	overdraft	services,	

services,	including	but	not	limited	to,	maintaining	an	account	with	a	customer,	providing	overdraft	services,	

wire	transfer,	transferring	funds,	and	accepting	and	executing	stop-payment	orders.		The	consideration	

wire	transfer,	transferring	funds,	and	accepting	and	executing	stop-payment	orders.		The	consideration	

includes	both	fixed	(e.g.,	account	maintenance	fee)	and	transaction	fees	(e.g.,	wire-transfer	fee).		The	fixed	

includes	both	fixed	(e.g.,	account	maintenance	fee)	and	transaction	fees	(e.g.,	wire-transfer	fee).		The	fixed	

fee	is	recognized	over	a	period	of	time	while	the	transaction	fee	is	recognized	when	a	specific	service	(e.g.,	

fee	is	recognized	over	a	period	of	time	while	the	transaction	fee	is	recognized	when	a	specific	service	(e.g.,	

execution	of	wire-transfer)	is	rendered	to	the	customer.		Huntington	may,	from	time	to	time,	waive	certain	

execution	of	wire-transfer)	is	rendered	to	the	customer.		Huntington	may,	from	time	to	time,	waive	certain	

fees	(e.g.,	NSF	fee)	for	customers	but	generally	does	not	reduce	the	transaction	price	to	reflect	variability	for	

fees	(e.g.,	NSF	fee)	for	customers	but	generally	does	not	reduce	the	transaction	price	to	reflect	variability	for	

future	reversals	due	to	the	insignificance	of	the	amounts.		Waiver	of	fees	reduces	the	revenue	in	the	period	

future	reversals	due	to	the	insignificance	of	the	amounts.		Waiver	of	fees	reduces	the	revenue	in	the	period	

the	waiver	is	granted	to	the	customer.

the	waiver	is	granted	to	the	customer.

•

•

Card	and	payment	processing	income	includes	interchange	fees	earned	on	debit	cards	and	credit	cards.		All	

Card	and	payment	processing	income	includes	interchange	fees	earned	on	debit	cards	and	credit	cards.		All	

other	fees	(e.g.,	annual	fees),	and	interest	income	are	recognized	in	accordance	with	ASC	310.		Huntington	

other	fees	(e.g.,	annual	fees),	and	interest	income	are	recognized	in	accordance	with	ASC	310.		Huntington	

recognizes	interchange	fees	for	services	performed	related	to	authorization	and	settlement	of	a	cardholder’s	

recognizes	interchange	fees	for	services	performed	related	to	authorization	and	settlement	of	a	cardholder’s	

transaction	with	a	merchant.		Revenue	is	recognized	when	a	cardholder’s	transaction	is	approved	and	

transaction	with	a	merchant.		Revenue	is	recognized	when	a	cardholder’s	transaction	is	approved	and	

settled.	

settled.	

Certain	volume	or	transaction	based	interchange	expenses	(net	of	rebates)	paid	to	the	payment	network	

Certain	volume	or	transaction	based	interchange	expenses	(net	of	rebates)	paid	to	the	payment	network	

reduce	the	interchange	revenue	and	are	presented	net	on	the	income	statement.		Similarly,	rewards	payable	

reduce	the	interchange	revenue	and	are	presented	net	on	the	income	statement.		Similarly,	rewards	payable	

under	a	reward	program	to	cardholders	are	recognized	as	a	reduction	of	the	transaction	price	and	are	

under	a	reward	program	to	cardholders	are	recognized	as	a	reduction	of	the	transaction	price	and	are	

presented	net	against	the	interchange	revenue.

presented	net	against	the	interchange	revenue.

•

•

Trust	and	investment	management	services	includes	fee	income	generated	from	personal,	corporate	and	

Trust	and	investment	management	services	includes	fee	income	generated	from	personal,	corporate	and	

institutional	customers.		Huntington	also	provides	investment	management	services,	cash	management	

institutional	customers.		Huntington	also	provides	investment	management	services,	cash	management	

services	and	tax	reporting	to	customers.		Services	are	rendered	over	a	period	of	time,	over	which	revenue	is	

services	and	tax	reporting	to	customers.		Services	are	rendered	over	a	period	of	time,	over	which	revenue	is	

recognized.		Huntington	may	also	recognize	revenue	from	referring	a	customer	to	outside	third-parties	

recognized.		Huntington	may	also	recognize	revenue	from	referring	a	customer	to	outside	third-parties	

including	mutual	fund	companies	that	pay	distribution	(12b-1)	fees	and	other	expenses.		12b-1	fees	are	

including	mutual	fund	companies	that	pay	distribution	(12b-1)	fees	and	other	expenses.		12b-1	fees	are	

received	upon	initially	placing	an	account	holder’s	funds	with	a	mutual	fund	company	as	well	as	in	the	future	

received	upon	initially	placing	an	account	holder’s	funds	with	a	mutual	fund	company	as	well	as	in	the	future	

periods	as	long	as	the	account	holder	(i.e.,	the	fund	investor),	remains	invested	in	the	fund.		The	transaction	

periods	as	long	as	the	account	holder	(i.e.,	the	fund	investor),	remains	invested	in	the	fund.		The	transaction	

price	includes	a	variable	consideration	which	is	considered	constrained	as	it	is	not	probable	that	a	significant	

price	includes	a	variable	consideration	which	is	considered	constrained	as	it	is	not	probable	that	a	significant	

revenue	reversal	in	the	amount	of	cumulative	revenue	recognized	will	not	occur.		Accordingly,	those	fees	are	

revenue	reversal	in	the	amount	of	cumulative	revenue	recognized	will	not	occur.		Accordingly,	those	fees	are	

recognized	as	revenue	when	the	uncertainty	associated	with	the	variable	consideration	is	subsequently	

recognized	as	revenue	when	the	uncertainty	associated	with	the	variable	consideration	is	subsequently	

resolved,	that	is,	initial	fees	are	recognized	in	the	initial	period	while	the	future	fees	are	recognized	in	future	

resolved,	that	is,	initial	fees	are	recognized	in	the	initial	period	while	the	future	fees	are	recognized	in	future	

periods.		

periods.		

•

•

Insurance	income	includes	agency	commissions	that	are	recognized	when	Huntington	sells	insurance	policies	

Insurance	income	includes	agency	commissions	that	are	recognized	when	Huntington	sells	insurance	policies	

to	customers.		Huntington	is	also	entitled	to	renewal	commissions	and,	in	some	cases,	profit	sharing	which	

to	customers.		Huntington	is	also	entitled	to	renewal	commissions	and,	in	some	cases,	profit	sharing	which	

are	recognized	in	subsequent	periods.		The	initial	commission	is	recognized	when	the	insurance	policy	is	sold	

are	recognized	in	subsequent	periods.		The	initial	commission	is	recognized	when	the	insurance	policy	is	sold	

to	a	customer.		Renewal	commission	is	variable	consideration	and	is	recognized	in	subsequent	periods	when	

to	a	customer.		Renewal	commission	is	variable	consideration	and	is	recognized	in	subsequent	periods	when	

the	uncertainty	around	variable	consideration	is	subsequently	resolved	(i.e.,	when	customer	renews	the	

the	uncertainty	around	variable	consideration	is	subsequently	resolved	(i.e.,	when	customer	renews	the	

policy).		Profit	sharing	is	also	variable	consideration	that	is	not	recognized	until	the	variability	surrounding	

policy).		Profit	sharing	is	also	variable	consideration	that	is	not	recognized	until	the	variability	surrounding	

realization	of	revenue	is	resolved	(i.e.,	Huntington	has	reached	a	minimum	volume	of	sales).		Another	source	

realization	of	revenue	is	resolved	(i.e.,	Huntington	has	reached	a	minimum	volume	of	sales).		Another	source	

of	variability	is	the	ability	of	the	policy	holder	to	cancel	the	policy	anytime.		In	such	cases,	Huntington	may	be	

of	variability	is	the	ability	of	the	policy	holder	to	cancel	the	policy	anytime.		In	such	cases,	Huntington	may	be	

118					Huntington	Bancshares	Incorporated
118					Huntington	Bancshares	Incorporated

2020	Form	10-K					119

2020	Form	10-K					119

•

•

•

•

in	active	markets.

in	active	markets.

Level	2	–	inputs	to	the	valuation	methodology	include	quoted	prices	for	similar	assets	and	liabilities	in	active	

Level	2	–	inputs	to	the	valuation	methodology	include	quoted	prices	for	similar	assets	and	liabilities	in	active	

markets,	and	inputs	that	are	observable	for	the	asset	or	liability,	either	directly	or	indirectly,	for	substantially	

markets,	and	inputs	that	are	observable	for	the	asset	or	liability,	either	directly	or	indirectly,	for	substantially	

•

•

Level	3	–	inputs	to	the	valuation	methodology	are	unobservable	and	significant	to	the	fair	value	

Level	3	–	inputs	to	the	valuation	methodology	are	unobservable	and	significant	to	the	fair	value	

the	full	term	of	the	financial	instrument.

the	full	term	of	the	financial	instrument.

measurement.

measurement.

A	financial	instrument’s	categorization	within	the	valuation	hierarchy	is	based	upon	the	lowest	level	of	input	that	

A	financial	instrument’s	categorization	within	the	valuation	hierarchy	is	based	upon	the	lowest	level	of	input	that	

is	significant	to	the	fair	value	measurement.

is	significant	to	the	fair	value	measurement.

Bank	Owned	Life	Insurance	—	Huntington’s	bank	owned	life	insurance	policies	are	recorded	at	their	cash	

Bank	Owned	Life	Insurance	—	Huntington’s	bank	owned	life	insurance	policies	are	recorded	at	their	cash	

surrender	value.		Huntington	recognizes	tax-exempt	income	from	the	periodic	increases	in	the	cash	surrender	value	

surrender	value.		Huntington	recognizes	tax-exempt	income	from	the	periodic	increases	in	the	cash	surrender	value	

of	these	policies	and	from	death	benefits.		A	portion	of	the	cash	surrender	value	is	supported	by	holdings	in	separate	

of	these	policies	and	from	death	benefits.		A	portion	of	the	cash	surrender	value	is	supported	by	holdings	in	separate	

accounts.		Book	value	protection	for	the	separate	accounts	is	provided	by	the	insurance	carriers	and	a	highly	rated	

accounts.		Book	value	protection	for	the	separate	accounts	is	provided	by	the	insurance	carriers	and	a	highly	rated	

major	bank.

major	bank.

Transfers	of	Financial	Assets	and	Securitizations	—	Transfers	of	financial	assets	in	which	we	have	surrendered	

Transfers	of	Financial	Assets	and	Securitizations	—	Transfers	of	financial	assets	in	which	we	have	surrendered	

control	over	the	transferred	assets	are	accounted	for	as	sales.		In	assessing	whether	control	has	been	surrendered,	

control	over	the	transferred	assets	are	accounted	for	as	sales.		In	assessing	whether	control	has	been	surrendered,	

Huntington	considers	whether	the	transferee	would	be	a	consolidated	affiliate,	the	existence	and	extent	of	any	

Huntington	considers	whether	the	transferee	would	be	a	consolidated	affiliate,	the	existence	and	extent	of	any	

continuing	involvement	in	the	transferred	financial	assets,	and	the	impact	of	all	arrangements	or	agreements	made	

continuing	involvement	in	the	transferred	financial	assets,	and	the	impact	of	all	arrangements	or	agreements	made	

contemporaneously	with,	or	in	contemplation	of,	the	transfer,	even	if	they	were	not	entered	into	at	the	time	of	

contemporaneously	with,	or	in	contemplation	of,	the	transfer,	even	if	they	were	not	entered	into	at	the	time	of	

transfer.		Control	is	generally	considered	to	have	been	surrendered	when	(i)	the	transferred	assets	have	been	legally	

transfer.		Control	is	generally	considered	to	have	been	surrendered	when	(i)	the	transferred	assets	have	been	legally	

isolated	from	Huntington	or	any	of	its	consolidated	affiliates,	even	in	bankruptcy	or	other	receivership,	(ii)	the	

isolated	from	Huntington	or	any	of	its	consolidated	affiliates,	even	in	bankruptcy	or	other	receivership,	(ii)	the	

transferee	(or,	if	the	transferee	is	an	entity	whose	sole	purpose	is	to	engage	in	securitization	or	asset-backed	

transferee	(or,	if	the	transferee	is	an	entity	whose	sole	purpose	is	to	engage	in	securitization	or	asset-backed	

financing	that	is	constrained	from	pledging	or	exchanging	the	assets	it	receives,	each	third-party	holder	of	its	

financing	that	is	constrained	from	pledging	or	exchanging	the	assets	it	receives,	each	third-party	holder	of	its	

beneficial	interests)	has	the	right	to	pledge	or	exchange	the	assets	(or	beneficial	interests)	it	received	without	any	

beneficial	interests)	has	the	right	to	pledge	or	exchange	the	assets	(or	beneficial	interests)	it	received	without	any	

constraints	that	provide	more	than	a	trivial	benefit	to	Huntington,	and	(iii)	neither	Huntington	nor	its	consolidated	

constraints	that	provide	more	than	a	trivial	benefit	to	Huntington,	and	(iii)	neither	Huntington	nor	its	consolidated	

affiliates	and	agents	have	(a)	both	the	right	and	obligation	under	any	agreement	to	repurchase	or	redeem	the	

affiliates	and	agents	have	(a)	both	the	right	and	obligation	under	any	agreement	to	repurchase	or	redeem	the	

transferred	assets	before	their	maturity,	(b)	the	unilateral	ability	to	cause	the	holder	to	return	specific	financial	

transferred	assets	before	their	maturity,	(b)	the	unilateral	ability	to	cause	the	holder	to	return	specific	financial	

assets	that	also	provides	Huntington	with	a	more-than-trivial	benefit	(other	than	through	a	cleanup	call)	or	(c)	an	

assets	that	also	provides	Huntington	with	a	more-than-trivial	benefit	(other	than	through	a	cleanup	call)	or	(c)	an	

agreement	that	permits	the	transferee	to	require	Huntington	to	repurchase	the	transferred	assets	at	a	price	so	

agreement	that	permits	the	transferee	to	require	Huntington	to	repurchase	the	transferred	assets	at	a	price	so	

favorable	that	it	is	probable	that	it	will	require	Huntington	to	repurchase	them.

favorable	that	it	is	probable	that	it	will	require	Huntington	to	repurchase	them.

If	the	sale	criteria	are	met,	the	transferred	financial	assets	are	removed	from	the	balance	sheet	and	a	gain	or	loss	

If	the	sale	criteria	are	met,	the	transferred	financial	assets	are	removed	from	the	balance	sheet	and	a	gain	or	loss	

on	sale	is	recognized.		If	the	sale	criteria	are	not	met,	the	transfer	is	recorded	as	a	secured	borrowing	in	which	the	

on	sale	is	recognized.		If	the	sale	criteria	are	not	met,	the	transfer	is	recorded	as	a	secured	borrowing	in	which	the	

assets	remain	on	the	balance	sheet	and	the	proceeds	from	the	transaction	are	recognized	as	a	liability.		For	the	

assets	remain	on	the	balance	sheet	and	the	proceeds	from	the	transaction	are	recognized	as	a	liability.		For	the	

majority	of	financial	asset	transfers,	it	is	clear	whether	or	not	Huntington	has	surrendered	control.		For	other	

majority	of	financial	asset	transfers,	it	is	clear	whether	or	not	Huntington	has	surrendered	control.		For	other	

transfers,	such	as	in	the	case	of	complex	transactions	or	where	Huntington	have	continuing	involvement,	we	

transfers,	such	as	in	the	case	of	complex	transactions	or	where	Huntington	have	continuing	involvement,	we	

generally	obtain	a	legal	opinion	as	to	whether	the	transfer	results	in	a	true	sale	by	law.

generally	obtain	a	legal	opinion	as	to	whether	the	transfer	results	in	a	true	sale	by	law.

Gains	and	losses	on	the	loans	and	leases	sold	and	servicing	rights	associated	with	loan	and	lease	sales	are	

Gains	and	losses	on	the	loans	and	leases	sold	and	servicing	rights	associated	with	loan	and	lease	sales	are	

determined	when	the	related	loans	or	leases	are	sold	to	either	a	securitization	trust	or	third-party.		For	loan	or	lease	

determined	when	the	related	loans	or	leases	are	sold	to	either	a	securitization	trust	or	third-party.		For	loan	or	lease	

sales	with	servicing	retained,	a	servicing	asset	is	recorded	at	fair	value	for	the	right	to	service	the	loans	sold.

sales	with	servicing	retained,	a	servicing	asset	is	recorded	at	fair	value	for	the	right	to	service	the	loans	sold.

Pension	and	Other	Postretirement	Benefits	—	Huntington	recognizes	the	funded	status	of	the	postretirement	

Pension	and	Other	Postretirement	Benefits	—	Huntington	recognizes	the	funded	status	of	the	postretirement	

benefit	plans	on	the	Consolidated	Balance	Sheets.		Net	postretirement	benefit	cost	charged	to	current	earnings	

benefit	plans	on	the	Consolidated	Balance	Sheets.		Net	postretirement	benefit	cost	charged	to	current	earnings	

related	to	these	plans	is	predominantly	based	on	various	actuarial	assumptions	regarding	expected	future	

related	to	these	plans	is	predominantly	based	on	various	actuarial	assumptions	regarding	expected	future	

experience.

experience.

Certain	employees	are	participants	in	various	defined	contribution	and	other	non-qualified	supplemental	

Certain	employees	are	participants	in	various	defined	contribution	and	other	non-qualified	supplemental	

retirement	plans.		Contributions	to	defined	contribution	plans	are	charged	to	current	earnings.		

retirement	plans.		Contributions	to	defined	contribution	plans	are	charged	to	current	earnings.		

In	addition,	Huntington	maintains	a	401(k)	plan	covering	substantially	all	employees.		Employer	contributions	to	

In	addition,	Huntington	maintains	a	401(k)	plan	covering	substantially	all	employees.		Employer	contributions	to	

the	plan	are	charged	to	current	earnings.

the	plan	are	charged	to	current	earnings.

Level	1	–	inputs	to	the	valuation	methodology	are	quoted	prices	(unadjusted)	for	identical	assets	or	liabilities	

Level	1	–	inputs	to	the	valuation	methodology	are	quoted	prices	(unadjusted)	for	identical	assets	or	liabilities	

Noninterest	Income	—	Huntington	recognizes	revenue	when	the	performance	obligations	related	to	the	
Noninterest	Income	—	Huntington	recognizes	revenue	when	the	performance	obligations	related	to	the	

transfer	of	goods	or	services	under	the	terms	of	a	contract	are	satisfied.		Some	obligations	are	satisfied	at	a	point	in	
transfer	of	goods	or	services	under	the	terms	of	a	contract	are	satisfied.		Some	obligations	are	satisfied	at	a	point	in	
time	while	others	are	satisfied	over	a	period	of	time.		Revenue	is	recognized	as	the	amount	of	consideration	to	which	
time	while	others	are	satisfied	over	a	period	of	time.		Revenue	is	recognized	as	the	amount	of	consideration	to	which	
Huntington	expects	to	be	entitled	to	in	exchange	for	transferring	goods	or	services	to	a	customer.		When	
Huntington	expects	to	be	entitled	to	in	exchange	for	transferring	goods	or	services	to	a	customer.		When	
consideration	includes	a	variable	component,	the	amount	of	consideration	attributable	to	variability	is	included	in	
consideration	includes	a	variable	component,	the	amount	of	consideration	attributable	to	variability	is	included	in	
the	transaction	price	only	to	the	extent	it	is	probable	that	significant	revenue	recognized	will	not	be	reversed	when	
the	transaction	price	only	to	the	extent	it	is	probable	that	significant	revenue	recognized	will	not	be	reversed	when	
uncertainty	associated	with	the	variable	consideration	is	subsequently	resolved.		Generally,	the	variability	relating	to	
uncertainty	associated	with	the	variable	consideration	is	subsequently	resolved.		Generally,	the	variability	relating	to	
the	consideration	is	explicitly	stated	in	the	contracts,	but	may	also	arise	from	Huntington’s	customer	business	
the	consideration	is	explicitly	stated	in	the	contracts,	but	may	also	arise	from	Huntington’s	customer	business	
practices,	for	example,	waiving	certain	fees	related	to	customer’s	deposit	accounts	such	as	NSF	fees.		Huntington’s	
practices,	for	example,	waiving	certain	fees	related	to	customer’s	deposit	accounts	such	as	NSF	fees.		Huntington’s	
contracts	generally	do	not	contain	terms	that	require	significant	judgement	to	determine	the	variability	impacting	
contracts	generally	do	not	contain	terms	that	require	significant	judgement	to	determine	the	variability	impacting	
the	transaction	price.		
the	transaction	price.		

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

Revenue	from	contracts	with	customers	is	broadly	segregated	as	follows:	
Revenue	from	contracts	with	customers	is	broadly	segregated	as	follows:	

•
•

•
•

•
•

•
•

Service	charges	on	deposit	accounts	include	fees	and	other	charges	Huntington	receives	to	provide	various	
Service	charges	on	deposit	accounts	include	fees	and	other	charges	Huntington	receives	to	provide	various	
services,	including	but	not	limited	to,	maintaining	an	account	with	a	customer,	providing	overdraft	services,	
services,	including	but	not	limited	to,	maintaining	an	account	with	a	customer,	providing	overdraft	services,	
wire	transfer,	transferring	funds,	and	accepting	and	executing	stop-payment	orders.		The	consideration	
wire	transfer,	transferring	funds,	and	accepting	and	executing	stop-payment	orders.		The	consideration	
includes	both	fixed	(e.g.,	account	maintenance	fee)	and	transaction	fees	(e.g.,	wire-transfer	fee).		The	fixed	
includes	both	fixed	(e.g.,	account	maintenance	fee)	and	transaction	fees	(e.g.,	wire-transfer	fee).		The	fixed	
fee	is	recognized	over	a	period	of	time	while	the	transaction	fee	is	recognized	when	a	specific	service	(e.g.,	
fee	is	recognized	over	a	period	of	time	while	the	transaction	fee	is	recognized	when	a	specific	service	(e.g.,	
execution	of	wire-transfer)	is	rendered	to	the	customer.		Huntington	may,	from	time	to	time,	waive	certain	
execution	of	wire-transfer)	is	rendered	to	the	customer.		Huntington	may,	from	time	to	time,	waive	certain	
fees	(e.g.,	NSF	fee)	for	customers	but	generally	does	not	reduce	the	transaction	price	to	reflect	variability	for	
fees	(e.g.,	NSF	fee)	for	customers	but	generally	does	not	reduce	the	transaction	price	to	reflect	variability	for	
future	reversals	due	to	the	insignificance	of	the	amounts.		Waiver	of	fees	reduces	the	revenue	in	the	period	
future	reversals	due	to	the	insignificance	of	the	amounts.		Waiver	of	fees	reduces	the	revenue	in	the	period	
the	waiver	is	granted	to	the	customer.
the	waiver	is	granted	to	the	customer.

Card	and	payment	processing	income	includes	interchange	fees	earned	on	debit	cards	and	credit	cards.		All	
Card	and	payment	processing	income	includes	interchange	fees	earned	on	debit	cards	and	credit	cards.		All	
other	fees	(e.g.,	annual	fees),	and	interest	income	are	recognized	in	accordance	with	ASC	310.		Huntington	
other	fees	(e.g.,	annual	fees),	and	interest	income	are	recognized	in	accordance	with	ASC	310.		Huntington	
recognizes	interchange	fees	for	services	performed	related	to	authorization	and	settlement	of	a	cardholder’s	
recognizes	interchange	fees	for	services	performed	related	to	authorization	and	settlement	of	a	cardholder’s	
transaction	with	a	merchant.		Revenue	is	recognized	when	a	cardholder’s	transaction	is	approved	and	
transaction	with	a	merchant.		Revenue	is	recognized	when	a	cardholder’s	transaction	is	approved	and	
settled.	
settled.	

Certain	volume	or	transaction	based	interchange	expenses	(net	of	rebates)	paid	to	the	payment	network	
Certain	volume	or	transaction	based	interchange	expenses	(net	of	rebates)	paid	to	the	payment	network	
reduce	the	interchange	revenue	and	are	presented	net	on	the	income	statement.		Similarly,	rewards	payable	
reduce	the	interchange	revenue	and	are	presented	net	on	the	income	statement.		Similarly,	rewards	payable	
under	a	reward	program	to	cardholders	are	recognized	as	a	reduction	of	the	transaction	price	and	are	
under	a	reward	program	to	cardholders	are	recognized	as	a	reduction	of	the	transaction	price	and	are	
presented	net	against	the	interchange	revenue.
presented	net	against	the	interchange	revenue.

Trust	and	investment	management	services	includes	fee	income	generated	from	personal,	corporate	and	
Trust	and	investment	management	services	includes	fee	income	generated	from	personal,	corporate	and	
institutional	customers.		Huntington	also	provides	investment	management	services,	cash	management	
institutional	customers.		Huntington	also	provides	investment	management	services,	cash	management	
services	and	tax	reporting	to	customers.		Services	are	rendered	over	a	period	of	time,	over	which	revenue	is	
services	and	tax	reporting	to	customers.		Services	are	rendered	over	a	period	of	time,	over	which	revenue	is	
recognized.		Huntington	may	also	recognize	revenue	from	referring	a	customer	to	outside	third-parties	
recognized.		Huntington	may	also	recognize	revenue	from	referring	a	customer	to	outside	third-parties	
including	mutual	fund	companies	that	pay	distribution	(12b-1)	fees	and	other	expenses.		12b-1	fees	are	
including	mutual	fund	companies	that	pay	distribution	(12b-1)	fees	and	other	expenses.		12b-1	fees	are	
received	upon	initially	placing	an	account	holder’s	funds	with	a	mutual	fund	company	as	well	as	in	the	future	
received	upon	initially	placing	an	account	holder’s	funds	with	a	mutual	fund	company	as	well	as	in	the	future	
periods	as	long	as	the	account	holder	(i.e.,	the	fund	investor),	remains	invested	in	the	fund.		The	transaction	
periods	as	long	as	the	account	holder	(i.e.,	the	fund	investor),	remains	invested	in	the	fund.		The	transaction	
price	includes	a	variable	consideration	which	is	considered	constrained	as	it	is	not	probable	that	a	significant	
price	includes	a	variable	consideration	which	is	considered	constrained	as	it	is	not	probable	that	a	significant	
revenue	reversal	in	the	amount	of	cumulative	revenue	recognized	will	not	occur.		Accordingly,	those	fees	are	
revenue	reversal	in	the	amount	of	cumulative	revenue	recognized	will	not	occur.		Accordingly,	those	fees	are	
recognized	as	revenue	when	the	uncertainty	associated	with	the	variable	consideration	is	subsequently	
recognized	as	revenue	when	the	uncertainty	associated	with	the	variable	consideration	is	subsequently	
resolved,	that	is,	initial	fees	are	recognized	in	the	initial	period	while	the	future	fees	are	recognized	in	future	
resolved,	that	is,	initial	fees	are	recognized	in	the	initial	period	while	the	future	fees	are	recognized	in	future	
periods.		
periods.		

Insurance	income	includes	agency	commissions	that	are	recognized	when	Huntington	sells	insurance	policies	
Insurance	income	includes	agency	commissions	that	are	recognized	when	Huntington	sells	insurance	policies	
to	customers.		Huntington	is	also	entitled	to	renewal	commissions	and,	in	some	cases,	profit	sharing	which	
to	customers.		Huntington	is	also	entitled	to	renewal	commissions	and,	in	some	cases,	profit	sharing	which	
are	recognized	in	subsequent	periods.		The	initial	commission	is	recognized	when	the	insurance	policy	is	sold	
are	recognized	in	subsequent	periods.		The	initial	commission	is	recognized	when	the	insurance	policy	is	sold	
to	a	customer.		Renewal	commission	is	variable	consideration	and	is	recognized	in	subsequent	periods	when	
to	a	customer.		Renewal	commission	is	variable	consideration	and	is	recognized	in	subsequent	periods	when	
the	uncertainty	around	variable	consideration	is	subsequently	resolved	(i.e.,	when	customer	renews	the	
the	uncertainty	around	variable	consideration	is	subsequently	resolved	(i.e.,	when	customer	renews	the	
policy).		Profit	sharing	is	also	variable	consideration	that	is	not	recognized	until	the	variability	surrounding	
policy).		Profit	sharing	is	also	variable	consideration	that	is	not	recognized	until	the	variability	surrounding	
realization	of	revenue	is	resolved	(i.e.,	Huntington	has	reached	a	minimum	volume	of	sales).		Another	source	
realization	of	revenue	is	resolved	(i.e.,	Huntington	has	reached	a	minimum	volume	of	sales).		Another	source	
of	variability	is	the	ability	of	the	policy	holder	to	cancel	the	policy	anytime.		In	such	cases,	Huntington	may	be	
of	variability	is	the	ability	of	the	policy	holder	to	cancel	the	policy	anytime.		In	such	cases,	Huntington	may	be	

118					Huntington	Bancshares	Incorporated

118					Huntington	Bancshares	Incorporated

2020	Form	10-K					119
2020	Form	10-K					119

required,	under	the	terms	of	the	contract,	to	return	part	of	the	commission	received.		A	policy	cancellation	reserve	is	established	for	such	expected	cancellations.•Other	noninterest	income	includes	a	variety	of	other	revenue	streams	including	capital	markets	revenue,	miscellaneous	consumer	fees	and	marketing	allowance	revenue.		Revenue	is	recognized	when,	or	as,	the	performance	obligation	is	satisfied.		Inherent	variability	in	the	transaction	price	is	not	recognized	until	the	uncertainty	affecting	the	variability	is	resolved.Control	is	transferred	to	a	customer	either	at	a	point	in	time	or	over	time.		A	performance	obligation	is	deemed	satisfied	when	the	control	over	goods	or	services	is	transferred	to	the	customer.		To	determine	when	control	is	transferred	at	a	point	in	time,	Huntington	considers	indicators,	including	but	not	limited	to	the	right	to	payment	for	the	asset,	transfer	of	significant	risk	and	rewards	of	ownership	of	the	asset	and	acceptance	of	the	asset	by	the	customer.	Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	arrangements	exist	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to,	customers.		Business	segment	results	are	determined	based	upon	management’s	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	Huntington’s	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.Income	Taxes	—	Income	taxes	are	accounted	for	under	the	asset	and	liability	method.		Accordingly,	deferred	tax	assets	and	liabilities	are	recognized	for	the	future	book	and	tax	consequences	attributable	to	temporary	differences	between	the	financial	statement	carrying	amounts	of	existing	assets	and	liabilities	and	their	respective	tax	bases.		Deferred	tax	assets	and	liabilities	are	determined	using	enacted	tax	rates	expected	to	apply	in	the	year	in	which	those	temporary	differences	are	expected	to	be	recovered	or	settled.		The	effect	on	deferred	tax	assets	and	liabilities	of	a	change	in	tax	rates	is	recognized	in	income	at	the	time	of	enactment	of	such	change	in	tax	rates.		Any	interest	or	penalties	due	for	payment	of	income	taxes	are	included	in	the	provision	for	income	taxes.		To	the	extent	we	do	not	consider	it	more	likely	than	not	that	a	deferred	tax	asset	will	be	recovered,	a	valuation	allowance	is	recorded.		All	positive	and	negative	evidence	is	reviewed	when	determining	how	much	of	a	valuation	allowance	is	recognized	on	a	quarterly	basis.		In	determining	the	requirements	for	a	valuation	allowance,	sources	of	possible	taxable	income	are	evaluated	including	future	reversals	of	existing	taxable	temporary	differences,	future	taxable	income	exclusive	of	reversing	temporary	differences	and	carryforwards,	taxable	income	in	appropriate	carryback	years,	and	tax-planning	strategies.		Huntington	applies	a	more	likely	than	not	recognition	threshold	for	all	tax	uncertainties.Share-Based	Compensation	—	Huntington	uses	the	fair	value	based	method	of	accounting	for	awards	of	HBAN	stock	granted	to	employees	under	various	share-based	compensation	plans.		Share-based	compensation	costs	are	recognized	prospectively	for	all	new	awards	granted	under	these	plans.		Compensation	expense	relating	to	stock	options	is	calculated	using	a	methodology	that	is	based	on	the	underlying	assumptions	of	the	Black-Scholes	option	pricing	model	and	is	charged	to	expense	over	the	requisite	service	period	(e.g.,	vesting	period).		Compensation	expense	relating	to	restricted	stock	awards	is	based	upon	the	fair	value	of	the	awards	on	the	date	of	grant	and	is	charged	to	earnings	over	the	requisite	service	period	(e.g.,	vesting	period)	of	the	award.Stock	Repurchases	—	Acquisitions	of	Huntington	stock	are	recorded	at	cost.Segment	Results	—	Accounting	policies	for	the	business	segments	are	the	same	as	those	used	in	the	preparation	of	the	Consolidated	Financial	Statements	with	respect	to	activities	specifically	attributable	to	each	business	segment.		However,	the	preparation	of	business	segment	results	requires	management	to	establish	methodologies	to	allocate	funding	costs	and	benefits,	expenses,	and	other	financial	elements	to	each	business	segment,	which	are	described	in	Note	26	-	“Segment	Reporting”.		120					Huntington	Bancshares	Incorporated2.	ACCOUNTING	STANDARDS	UPDATEAccounting	standards	adopted	in	current	periodStandardSummary	of	guidanceEffects	on	financial	statementsASU	2016-13	-	Financial	Instruments	-	Credit	Losses.Issued	June	2016•Eliminates	the	probable	recognition	threshold	for	credit	losses	on	financial	assets	measured	at	amortized	cost,	replacing	the	current	incurred	loss	framework	with	an	expected	credit	loss	model.•Requires	those	financial	assets	subject	to	the	new	guidance	to	be	presented	at	the	net	amount	expected	to	be	collected	(i.e.,	net	of	expected	credit	losses).•Measurement	of	expected	credit	losses	should	be	based	on	relevant	information	including	historical	experience,	current	conditions,	and	reasonable	and	supportable	forecasts	that	affect	the	collectability	of	the	reported	amount.•The	guidance	will	require	additional	quantitative	and	qualitative	disclosures	related	to	the	credit	risk	inherent	in	Huntington’s	portfolio	and	how	management	monitors	the	portfolio’s	credit	quality.•Management	adopted	the	guidance	on	January	1,	2020	through	a	cumulative-effect	adjustment	to	retained	earnings	and	implemented	changes	to	relevant	systems,	processes,	and	controls	where	necessary.•The	adoption	of	ASU	2016-13	on	January	1,	2020	resulted	in	an	increase	to	our	total	ACL	of	$393	million.	This	represented	an	increase	of	44%	from	the	2019	year	end	ACL	level	of	$887	million.		For	more	detail	on	the	day	1	adoption	impacts,	please	refer	to	Note	6	-	Allowance	for	Credit	Losses.•The	ASU	eliminated	the	current	accounting	model	for	purchased-credit-impaired	loans,	but	requires	an	allowance	to	be	recognized	for	purchased-credit-deteriorated	(PCD)	assets	(those	that	have	experienced	more-than-insignificant	deterioration	in	credit	quality	since	origination).		Huntington	did	not	have	any	loans	accounted	for	as	PCD	upon	adoption.•At	adoption,	Huntington	did	not	record	an	allowance	with	respect	to	HTM	securities	as	the	portfolio	consists	almost	entirely	of	agency-backed	securities	that	inherently	have	minimal	nonpayment	risk.ASU	2019-12	-	Income	Taxes	(Topic	740):	Simplifying	the	Accounting	for	Income	Taxes	Issued:	December	2019•The	ASU	simplifies	the	accounting	for	income	taxes	by	removing	exceptions	to	the:	◦Incremental	approach	for	intra-period	tax	allocation	when	there	is	a	loss	from	continuing	operations	and	income	or	a	gain	from	other	items;◦Requirement	to	recognize	a	deferred	tax	liability	for	equity	method	investments	when	a	foreign	subsidiary	becomes	an	equity	method	investment;	◦Ability	not	to	recognize	a	deferred	tax	liability	for	a	foreign	subsidiary	when	a	foreign	equity	method	investment	becomes	a	subsidiary;	and,◦General	methodology	for	calculating	income	taxes	in	an	interim	period	when	a	year-to-date	loss	exceeds	the	anticipated	loss	for	the	year.•The	ASU	also	simplifies	various	other	aspects	of	the	accounting	for	income	taxes.•Management	early	adopted	the	guidance	on	October	1,	2020.•The	ASU	did	not	have	a	material	impact	on	Huntington’s		Consolidated	Financial	Statements.2020	Form	10-K					121required,	under	the	terms	of	the	contract,	to	return	part	of	the	commission	received.		A	policy	cancellation	reserve	is	established	for	such	expected	cancellations.•Other	noninterest	income	includes	a	variety	of	other	revenue	streams	including	capital	markets	revenue,	miscellaneous	consumer	fees	and	marketing	allowance	revenue.		Revenue	is	recognized	when,	or	as,	the	performance	obligation	is	satisfied.		Inherent	variability	in	the	transaction	price	is	not	recognized	until	the	uncertainty	affecting	the	variability	is	resolved.Control	is	transferred	to	a	customer	either	at	a	point	in	time	or	over	time.		A	performance	obligation	is	deemed	satisfied	when	the	control	over	goods	or	services	is	transferred	to	the	customer.		To	determine	when	control	is	transferred	at	a	point	in	time,	Huntington	considers	indicators,	including	but	not	limited	to	the	right	to	payment	for	the	asset,	transfer	of	significant	risk	and	rewards	of	ownership	of	the	asset	and	acceptance	of	the	asset	by	the	customer.	Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	arrangements	exist	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to,	customers.		Business	segment	results	are	determined	based	upon	management’s	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	Huntington’s	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.Income	Taxes	—	Income	taxes	are	accounted	for	under	the	asset	and	liability	method.		Accordingly,	deferred	tax	assets	and	liabilities	are	recognized	for	the	future	book	and	tax	consequences	attributable	to	temporary	differences	between	the	financial	statement	carrying	amounts	of	existing	assets	and	liabilities	and	their	respective	tax	bases.		Deferred	tax	assets	and	liabilities	are	determined	using	enacted	tax	rates	expected	to	apply	in	the	year	in	which	those	temporary	differences	are	expected	to	be	recovered	or	settled.		The	effect	on	deferred	tax	assets	and	liabilities	of	a	change	in	tax	rates	is	recognized	in	income	at	the	time	of	enactment	of	such	change	in	tax	rates.		Any	interest	or	penalties	due	for	payment	of	income	taxes	are	included	in	the	provision	for	income	taxes.		To	the	extent	we	do	not	consider	it	more	likely	than	not	that	a	deferred	tax	asset	will	be	recovered,	a	valuation	allowance	is	recorded.		All	positive	and	negative	evidence	is	reviewed	when	determining	how	much	of	a	valuation	allowance	is	recognized	on	a	quarterly	basis.		In	determining	the	requirements	for	a	valuation	allowance,	sources	of	possible	taxable	income	are	evaluated	including	future	reversals	of	existing	taxable	temporary	differences,	future	taxable	income	exclusive	of	reversing	temporary	differences	and	carryforwards,	taxable	income	in	appropriate	carryback	years,	and	tax-planning	strategies.		Huntington	applies	a	more	likely	than	not	recognition	threshold	for	all	tax	uncertainties.Share-Based	Compensation	—	Huntington	uses	the	fair	value	based	method	of	accounting	for	awards	of	HBAN	stock	granted	to	employees	under	various	share-based	compensation	plans.		Share-based	compensation	costs	are	recognized	prospectively	for	all	new	awards	granted	under	these	plans.		Compensation	expense	relating	to	stock	options	is	calculated	using	a	methodology	that	is	based	on	the	underlying	assumptions	of	the	Black-Scholes	option	pricing	model	and	is	charged	to	expense	over	the	requisite	service	period	(e.g.,	vesting	period).		Compensation	expense	relating	to	restricted	stock	awards	is	based	upon	the	fair	value	of	the	awards	on	the	date	of	grant	and	is	charged	to	earnings	over	the	requisite	service	period	(e.g.,	vesting	period)	of	the	award.Stock	Repurchases	—	Acquisitions	of	Huntington	stock	are	recorded	at	cost.Segment	Results	—	Accounting	policies	for	the	business	segments	are	the	same	as	those	used	in	the	preparation	of	the	Consolidated	Financial	Statements	with	respect	to	activities	specifically	attributable	to	each	business	segment.		However,	the	preparation	of	business	segment	results	requires	management	to	establish	methodologies	to	allocate	funding	costs	and	benefits,	expenses,	and	other	financial	elements	to	each	business	segment,	which	are	described	in	Note	26	-	“Segment	Reporting”.		120					Huntington	Bancshares	Incorporated2.	ACCOUNTING	STANDARDS	UPDATEAccounting	standards	adopted	in	current	periodStandardSummary	of	guidanceEffects	on	financial	statementsASU	2016-13	-	Financial	Instruments	-	Credit	Losses.Issued	June	2016•Eliminates	the	probable	recognition	threshold	for	credit	losses	on	financial	assets	measured	at	amortized	cost,	replacing	the	current	incurred	loss	framework	with	an	expected	credit	loss	model.•Requires	those	financial	assets	subject	to	the	new	guidance	to	be	presented	at	the	net	amount	expected	to	be	collected	(i.e.,	net	of	expected	credit	losses).•Measurement	of	expected	credit	losses	should	be	based	on	relevant	information	including	historical	experience,	current	conditions,	and	reasonable	and	supportable	forecasts	that	affect	the	collectability	of	the	reported	amount.•The	guidance	will	require	additional	quantitative	and	qualitative	disclosures	related	to	the	credit	risk	inherent	in	Huntington’s	portfolio	and	how	management	monitors	the	portfolio’s	credit	quality.•Management	adopted	the	guidance	on	January	1,	2020	through	a	cumulative-effect	adjustment	to	retained	earnings	and	implemented	changes	to	relevant	systems,	processes,	and	controls	where	necessary.•The	adoption	of	ASU	2016-13	on	January	1,	2020	resulted	in	an	increase	to	our	total	ACL	of	$393	million.	This	represented	an	increase	of	44%	from	the	2019	year	end	ACL	level	of	$887	million.		For	more	detail	on	the	day	1	adoption	impacts,	please	refer	to	Note	6	-	Allowance	for	Credit	Losses.•The	ASU	eliminated	the	current	accounting	model	for	purchased-credit-impaired	loans,	but	requires	an	allowance	to	be	recognized	for	purchased-credit-deteriorated	(PCD)	assets	(those	that	have	experienced	more-than-insignificant	deterioration	in	credit	quality	since	origination).		Huntington	did	not	have	any	loans	accounted	for	as	PCD	upon	adoption.•At	adoption,	Huntington	did	not	record	an	allowance	with	respect	to	HTM	securities	as	the	portfolio	consists	almost	entirely	of	agency-backed	securities	that	inherently	have	minimal	nonpayment	risk.ASU	2019-12	-	Income	Taxes	(Topic	740):	Simplifying	the	Accounting	for	Income	Taxes	Issued:	December	2019•The	ASU	simplifies	the	accounting	for	income	taxes	by	removing	exceptions	to	the:	◦Incremental	approach	for	intra-period	tax	allocation	when	there	is	a	loss	from	continuing	operations	and	income	or	a	gain	from	other	items;◦Requirement	to	recognize	a	deferred	tax	liability	for	equity	method	investments	when	a	foreign	subsidiary	becomes	an	equity	method	investment;	◦Ability	not	to	recognize	a	deferred	tax	liability	for	a	foreign	subsidiary	when	a	foreign	equity	method	investment	becomes	a	subsidiary;	and,◦General	methodology	for	calculating	income	taxes	in	an	interim	period	when	a	year-to-date	loss	exceeds	the	anticipated	loss	for	the	year.•The	ASU	also	simplifies	various	other	aspects	of	the	accounting	for	income	taxes.•Management	early	adopted	the	guidance	on	October	1,	2020.•The	ASU	did	not	have	a	material	impact	on	Huntington’s		Consolidated	Financial	Statements.2020	Form	10-K					121required,	under	the	terms	of	the	contract,	to	return	part	of	the	commission	received.		A	policy	cancellation	reserve	is	established	for	such	expected	cancellations.•Other	noninterest	income	includes	a	variety	of	other	revenue	streams	including	capital	markets	revenue,	miscellaneous	consumer	fees	and	marketing	allowance	revenue.		Revenue	is	recognized	when,	or	as,	the	performance	obligation	is	satisfied.		Inherent	variability	in	the	transaction	price	is	not	recognized	until	the	uncertainty	affecting	the	variability	is	resolved.Control	is	transferred	to	a	customer	either	at	a	point	in	time	or	over	time.		A	performance	obligation	is	deemed	satisfied	when	the	control	over	goods	or	services	is	transferred	to	the	customer.		To	determine	when	control	is	transferred	at	a	point	in	time,	Huntington	considers	indicators,	including	but	not	limited	to	the	right	to	payment	for	the	asset,	transfer	of	significant	risk	and	rewards	of	ownership	of	the	asset	and	acceptance	of	the	asset	by	the	customer.	Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	arrangements	exist	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to,	customers.		Business	segment	results	are	determined	based	upon	management’s	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	Huntington’s	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.Income	Taxes	—	Income	taxes	are	accounted	for	under	the	asset	and	liability	method.		Accordingly,	deferred	tax	assets	and	liabilities	are	recognized	for	the	future	book	and	tax	consequences	attributable	to	temporary	differences	between	the	financial	statement	carrying	amounts	of	existing	assets	and	liabilities	and	their	respective	tax	bases.		Deferred	tax	assets	and	liabilities	are	determined	using	enacted	tax	rates	expected	to	apply	in	the	year	in	which	those	temporary	differences	are	expected	to	be	recovered	or	settled.		The	effect	on	deferred	tax	assets	and	liabilities	of	a	change	in	tax	rates	is	recognized	in	income	at	the	time	of	enactment	of	such	change	in	tax	rates.		Any	interest	or	penalties	due	for	payment	of	income	taxes	are	included	in	the	provision	for	income	taxes.		To	the	extent	we	do	not	consider	it	more	likely	than	not	that	a	deferred	tax	asset	will	be	recovered,	a	valuation	allowance	is	recorded.		All	positive	and	negative	evidence	is	reviewed	when	determining	how	much	of	a	valuation	allowance	is	recognized	on	a	quarterly	basis.		In	determining	the	requirements	for	a	valuation	allowance,	sources	of	possible	taxable	income	are	evaluated	including	future	reversals	of	existing	taxable	temporary	differences,	future	taxable	income	exclusive	of	reversing	temporary	differences	and	carryforwards,	taxable	income	in	appropriate	carryback	years,	and	tax-planning	strategies.		Huntington	applies	a	more	likely	than	not	recognition	threshold	for	all	tax	uncertainties.Share-Based	Compensation	—	Huntington	uses	the	fair	value	based	method	of	accounting	for	awards	of	HBAN	stock	granted	to	employees	under	various	share-based	compensation	plans.		Share-based	compensation	costs	are	recognized	prospectively	for	all	new	awards	granted	under	these	plans.		Compensation	expense	relating	to	stock	options	is	calculated	using	a	methodology	that	is	based	on	the	underlying	assumptions	of	the	Black-Scholes	option	pricing	model	and	is	charged	to	expense	over	the	requisite	service	period	(e.g.,	vesting	period).		Compensation	expense	relating	to	restricted	stock	awards	is	based	upon	the	fair	value	of	the	awards	on	the	date	of	grant	and	is	charged	to	earnings	over	the	requisite	service	period	(e.g.,	vesting	period)	of	the	award.Stock	Repurchases	—	Acquisitions	of	Huntington	stock	are	recorded	at	cost.Segment	Results	—	Accounting	policies	for	the	business	segments	are	the	same	as	those	used	in	the	preparation	of	the	Consolidated	Financial	Statements	with	respect	to	activities	specifically	attributable	to	each	business	segment.		However,	the	preparation	of	business	segment	results	requires	management	to	establish	methodologies	to	allocate	funding	costs	and	benefits,	expenses,	and	other	financial	elements	to	each	business	segment,	which	are	described	in	Note	26	-	“Segment	Reporting”.		120					Huntington	Bancshares	Incorporated2.	ACCOUNTING	STANDARDS	UPDATEAccounting	standards	adopted	in	current	periodStandardSummary	of	guidanceEffects	on	financial	statementsASU	2016-13	-	Financial	Instruments	-	Credit	Losses.Issued	June	2016•Eliminates	the	probable	recognition	threshold	for	credit	losses	on	financial	assets	measured	at	amortized	cost,	replacing	the	current	incurred	loss	framework	with	an	expected	credit	loss	model.•Requires	those	financial	assets	subject	to	the	new	guidance	to	be	presented	at	the	net	amount	expected	to	be	collected	(i.e.,	net	of	expected	credit	losses).•Measurement	of	expected	credit	losses	should	be	based	on	relevant	information	including	historical	experience,	current	conditions,	and	reasonable	and	supportable	forecasts	that	affect	the	collectability	of	the	reported	amount.•The	guidance	will	require	additional	quantitative	and	qualitative	disclosures	related	to	the	credit	risk	inherent	in	Huntington’s	portfolio	and	how	management	monitors	the	portfolio’s	credit	quality.•Management	adopted	the	guidance	on	January	1,	2020	through	a	cumulative-effect	adjustment	to	retained	earnings	and	implemented	changes	to	relevant	systems,	processes,	and	controls	where	necessary.•The	adoption	of	ASU	2016-13	on	January	1,	2020	resulted	in	an	increase	to	our	total	ACL	of	$393	million.	This	represented	an	increase	of	44%	from	the	2019	year	end	ACL	level	of	$887	million.		For	more	detail	on	the	day	1	adoption	impacts,	please	refer	to	Note	6	-	Allowance	for	Credit	Losses.•The	ASU	eliminated	the	current	accounting	model	for	purchased-credit-impaired	loans,	but	requires	an	allowance	to	be	recognized	for	purchased-credit-deteriorated	(PCD)	assets	(those	that	have	experienced	more-than-insignificant	deterioration	in	credit	quality	since	origination).		Huntington	did	not	have	any	loans	accounted	for	as	PCD	upon	adoption.•At	adoption,	Huntington	did	not	record	an	allowance	with	respect	to	HTM	securities	as	the	portfolio	consists	almost	entirely	of	agency-backed	securities	that	inherently	have	minimal	nonpayment	risk.ASU	2019-12	-	Income	Taxes	(Topic	740):	Simplifying	the	Accounting	for	Income	Taxes	Issued:	December	2019•The	ASU	simplifies	the	accounting	for	income	taxes	by	removing	exceptions	to	the:	◦Incremental	approach	for	intra-period	tax	allocation	when	there	is	a	loss	from	continuing	operations	and	income	or	a	gain	from	other	items;◦Requirement	to	recognize	a	deferred	tax	liability	for	equity	method	investments	when	a	foreign	subsidiary	becomes	an	equity	method	investment;	◦Ability	not	to	recognize	a	deferred	tax	liability	for	a	foreign	subsidiary	when	a	foreign	equity	method	investment	becomes	a	subsidiary;	and,◦General	methodology	for	calculating	income	taxes	in	an	interim	period	when	a	year-to-date	loss	exceeds	the	anticipated	loss	for	the	year.•The	ASU	also	simplifies	various	other	aspects	of	the	accounting	for	income	taxes.•Management	early	adopted	the	guidance	on	October	1,	2020.•The	ASU	did	not	have	a	material	impact	on	Huntington’s		Consolidated	Financial	Statements.2020	Form	10-K					121required,	under	the	terms	of	the	contract,	to	return	part	of	the	commission	received.		A	policy	cancellation	reserve	is	established	for	such	expected	cancellations.•Other	noninterest	income	includes	a	variety	of	other	revenue	streams	including	capital	markets	revenue,	miscellaneous	consumer	fees	and	marketing	allowance	revenue.		Revenue	is	recognized	when,	or	as,	the	performance	obligation	is	satisfied.		Inherent	variability	in	the	transaction	price	is	not	recognized	until	the	uncertainty	affecting	the	variability	is	resolved.Control	is	transferred	to	a	customer	either	at	a	point	in	time	or	over	time.		A	performance	obligation	is	deemed	satisfied	when	the	control	over	goods	or	services	is	transferred	to	the	customer.		To	determine	when	control	is	transferred	at	a	point	in	time,	Huntington	considers	indicators,	including	but	not	limited	to	the	right	to	payment	for	the	asset,	transfer	of	significant	risk	and	rewards	of	ownership	of	the	asset	and	acceptance	of	the	asset	by	the	customer.	Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	arrangements	exist	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to,	customers.		Business	segment	results	are	determined	based	upon	management’s	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	Huntington’s	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.Income	Taxes	—	Income	taxes	are	accounted	for	under	the	asset	and	liability	method.		Accordingly,	deferred	tax	assets	and	liabilities	are	recognized	for	the	future	book	and	tax	consequences	attributable	to	temporary	differences	between	the	financial	statement	carrying	amounts	of	existing	assets	and	liabilities	and	their	respective	tax	bases.		Deferred	tax	assets	and	liabilities	are	determined	using	enacted	tax	rates	expected	to	apply	in	the	year	in	which	those	temporary	differences	are	expected	to	be	recovered	or	settled.		The	effect	on	deferred	tax	assets	and	liabilities	of	a	change	in	tax	rates	is	recognized	in	income	at	the	time	of	enactment	of	such	change	in	tax	rates.		Any	interest	or	penalties	due	for	payment	of	income	taxes	are	included	in	the	provision	for	income	taxes.		To	the	extent	we	do	not	consider	it	more	likely	than	not	that	a	deferred	tax	asset	will	be	recovered,	a	valuation	allowance	is	recorded.		All	positive	and	negative	evidence	is	reviewed	when	determining	how	much	of	a	valuation	allowance	is	recognized	on	a	quarterly	basis.		In	determining	the	requirements	for	a	valuation	allowance,	sources	of	possible	taxable	income	are	evaluated	including	future	reversals	of	existing	taxable	temporary	differences,	future	taxable	income	exclusive	of	reversing	temporary	differences	and	carryforwards,	taxable	income	in	appropriate	carryback	years,	and	tax-planning	strategies.		Huntington	applies	a	more	likely	than	not	recognition	threshold	for	all	tax	uncertainties.Share-Based	Compensation	—	Huntington	uses	the	fair	value	based	method	of	accounting	for	awards	of	HBAN	stock	granted	to	employees	under	various	share-based	compensation	plans.		Share-based	compensation	costs	are	recognized	prospectively	for	all	new	awards	granted	under	these	plans.		Compensation	expense	relating	to	stock	options	is	calculated	using	a	methodology	that	is	based	on	the	underlying	assumptions	of	the	Black-Scholes	option	pricing	model	and	is	charged	to	expense	over	the	requisite	service	period	(e.g.,	vesting	period).		Compensation	expense	relating	to	restricted	stock	awards	is	based	upon	the	fair	value	of	the	awards	on	the	date	of	grant	and	is	charged	to	earnings	over	the	requisite	service	period	(e.g.,	vesting	period)	of	the	award.Stock	Repurchases	—	Acquisitions	of	Huntington	stock	are	recorded	at	cost.Segment	Results	—	Accounting	policies	for	the	business	segments	are	the	same	as	those	used	in	the	preparation	of	the	Consolidated	Financial	Statements	with	respect	to	activities	specifically	attributable	to	each	business	segment.		However,	the	preparation	of	business	segment	results	requires	management	to	establish	methodologies	to	allocate	funding	costs	and	benefits,	expenses,	and	other	financial	elements	to	each	business	segment,	which	are	described	in	Note	26	-	“Segment	Reporting”.		120					Huntington	Bancshares	Incorporated2.	ACCOUNTING	STANDARDS	UPDATEAccounting	standards	adopted	in	current	periodStandardSummary	of	guidanceEffects	on	financial	statementsASU	2016-13	-	Financial	Instruments	-	Credit	Losses.Issued	June	2016•Eliminates	the	probable	recognition	threshold	for	credit	losses	on	financial	assets	measured	at	amortized	cost,	replacing	the	current	incurred	loss	framework	with	an	expected	credit	loss	model.•Requires	those	financial	assets	subject	to	the	new	guidance	to	be	presented	at	the	net	amount	expected	to	be	collected	(i.e.,	net	of	expected	credit	losses).•Measurement	of	expected	credit	losses	should	be	based	on	relevant	information	including	historical	experience,	current	conditions,	and	reasonable	and	supportable	forecasts	that	affect	the	collectability	of	the	reported	amount.•The	guidance	will	require	additional	quantitative	and	qualitative	disclosures	related	to	the	credit	risk	inherent	in	Huntington’s	portfolio	and	how	management	monitors	the	portfolio’s	credit	quality.•Management	adopted	the	guidance	on	January	1,	2020	through	a	cumulative-effect	adjustment	to	retained	earnings	and	implemented	changes	to	relevant	systems,	processes,	and	controls	where	necessary.•The	adoption	of	ASU	2016-13	on	January	1,	2020	resulted	in	an	increase	to	our	total	ACL	of	$393	million.	This	represented	an	increase	of	44%	from	the	2019	year	end	ACL	level	of	$887	million.		For	more	detail	on	the	day	1	adoption	impacts,	please	refer	to	Note	6	-	Allowance	for	Credit	Losses.•The	ASU	eliminated	the	current	accounting	model	for	purchased-credit-impaired	loans,	but	requires	an	allowance	to	be	recognized	for	purchased-credit-deteriorated	(PCD)	assets	(those	that	have	experienced	more-than-insignificant	deterioration	in	credit	quality	since	origination).		Huntington	did	not	have	any	loans	accounted	for	as	PCD	upon	adoption.•At	adoption,	Huntington	did	not	record	an	allowance	with	respect	to	HTM	securities	as	the	portfolio	consists	almost	entirely	of	agency-backed	securities	that	inherently	have	minimal	nonpayment	risk.ASU	2019-12	-	Income	Taxes	(Topic	740):	Simplifying	the	Accounting	for	Income	Taxes	Issued:	December	2019•The	ASU	simplifies	the	accounting	for	income	taxes	by	removing	exceptions	to	the:	◦Incremental	approach	for	intra-period	tax	allocation	when	there	is	a	loss	from	continuing	operations	and	income	or	a	gain	from	other	items;◦Requirement	to	recognize	a	deferred	tax	liability	for	equity	method	investments	when	a	foreign	subsidiary	becomes	an	equity	method	investment;	◦Ability	not	to	recognize	a	deferred	tax	liability	for	a	foreign	subsidiary	when	a	foreign	equity	method	investment	becomes	a	subsidiary;	and,◦General	methodology	for	calculating	income	taxes	in	an	interim	period	when	a	year-to-date	loss	exceeds	the	anticipated	loss	for	the	year.•The	ASU	also	simplifies	various	other	aspects	of	the	accounting	for	income	taxes.•Management	early	adopted	the	guidance	on	October	1,	2020.•The	ASU	did	not	have	a	material	impact	on	Huntington’s		Consolidated	Financial	Statements.2020	Form	10-K					121StandardSummary	of	guidanceEffects	on	financial	statementsASU	2020-04	-	Reference	Rate	Reform	(Topic	848):	Facilitation	of	the	Effects	of	Reference	Rate	Reform	on	Financial	Reporting	Issued:	March	2020;	Amended:	January	2021•The	ASU	provides	optional	expedients	and	exceptions	for	applying	U.S.	GAAP	to	contracts,	hedging	relationships,	and	other	transactions	affected	by	reference	rate	reform	if	certain	criteria	are	met,	including	the	following:◦Modifications	of	contracts	within	the	scope	of	Topics	310,	Receivables,	and	470,	Debt,	should	be	accounted	for	by	prospectively	adjusting	the	effective	interest	rate;◦Modifications	of	contracts	within	the	scope	of	Topic	842,	Leases,	should	be	accounted	for	as	a	continuation	of	the	existing	contracts	with	no	reassessments	of	the	lease	classification	or	discount	rate;◦The	ASU	also	provides	optional	expedients	for	various	hedging	relationships,	allowing	hedge	accounting	to	continue	uninterrupted,	provided	certain	criteria	are	met;	and,◦An	entity	may	make	a	one	time	election	to	sell,	transfer,	or	both	sell	and	transfer	debt	securities	classified	as	held	to	maturity	if	certain	criteria	are	met.•Topic	848	was	subsequently	amended	in	January	2021,	allowing	entities	to	elect	certain	optional	expedients	and	exceptions	in	Topic	848	relating	to	derivative	contracts	and	hedge	accounting	affected	by	the	discounting	transition	initiated	by	certain	central	clearing	parties.•Management	early	adopted	the	guidance	on	October	1,	2020.•While	neither	the	ASU	or	the	amendment	had		a	material	impact	on	Huntington’s		Consolidated	Financial	Statements,	they	do	ease	the	administrative	burden	of	accounting	for	contracts	impacted	by	reference	rate	reform.3.	PENDING	ACQUISITION	OF	TCF	FINANCIAL	CORPORATIONOn	December	13,	2020,	Huntington	announced	the	signing	of	a	definitive	merger	agreement		(the	“TCF/Huntington	Merger	Agreement”).		Under	the	terms	of	the	agreement,	which	was	unanimously	approved	by	the	boards	of	directors	of	both	companies,		TCF	Financial	Corporation,	the	parent	company	of	TCF	National	Bank	will	merge	into	Huntington	in	an	all-stock	transaction	valued	at	approximately	$6.0	billion	based	on	the	closing	stock	price	on	the	day	preceding	the	announcement.		TCF	is	a	financial	holding	company	headquartered	in	Detroit,	Michigan	with	reported	total	assets	of	$47.8	billion	based	on	their	balance	sheet	at	December	31,	2020.		Following	the	merger,	Huntington	will	operate	with	dual	headquarters	for	banking	operations	in	Detroit,	Michigan	and	Columbus,	Ohio.Under	the	terms	of	the	Merger	Agreement,	TCF	shareholders	will	receive	3.0028	shares	of	Huntington	common	stock	for	each	share	of	TCF	common	stock.		Holders	of	TCF	common	stock	will	receive	cash	in	lieu	of	fractional	shares.		Each	outstanding	share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock	of	TCF	will	be	converted	into	the	right	to	receive	one	share	of	a	newly	created	series	of	preferred	stock	of	Huntington.		Subject	to	receipt	of	regulatory	approvals	and	satisfaction	of	other	customary	closing	conditions,	including	approval	of	both	TCF	and	Huntington	shareholders,	the	transaction	is	anticipated	to	close	in	the	second	quarter	of	2021.122					Huntington	Bancshares	Incorporated4.	INVESTMENT	SECURITIES	AND	OTHER	SECURITIESDebt	securities	purchased	in	which	Huntington	has	the	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		All	other	debt	and	equity	securities	are	classified	as	either	available-for-sale	or	other	securities.	The	following	tables	provide	amortized	cost,	fair	value,	and	gross	unrealized	gains	and	losses	by	investment	category	at	December	31,	2020	and	2019:Unrealized(dollar	amounts	in	millions)AmortizedCost	(1)GrossGainsGrossLossesFair	ValueDecember	31,	2020Available-for-sale	securities:U.S.	Treasury$	5	$	—	$	—	$	5	Federal	agencies:Residential	CMO	3,550		121		(5)		3,666	Residential	MBS	7,843		97		(5)		7,935	Commercial	MBS	1,151		21		(9)		1,163	Other	agencies	60		2		—		62	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	12,609		241		(19)		12,831	Municipal	securities	2,928		91		(15)		3,004	Private-label	CMO	9		—		—		9	Asset-backed	securities	185		7		—		192	Corporate	debt	440		5		—		445	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	16,175	$	344	$	(34)	$	16,485	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	1,779	$	88	$	—	$	1,867	Residential	MBS	3,715		103		—		3,818	Commercial	MBS	3,118		191		—		3,309	Other	agencies	246		12		—		258	Total	federal	agency	and	other	agency	securities	8,858		394		—		9,252	Municipal	securities	3		—		—		3	Total	held-to-maturity	securities$	8,861	$	394	$	—	$	9,255	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	60	$	—	$	—	$	60	Federal	Reserve	Bank	stock	299		—		—		299	Other	securities,	at	fair	valueMutual	funds	50		—		—		50	Equity	securities	8		1		—		9	Total	other	securities$	417	$	1	$	—	$	418	(1)Amortized	cost	amounts	excludes	accrued	interest	receivable,	which	is	recorded	within	other	assets	on	the	Consolidated	Balance	Sheets.		At	December	31,	2020,	accrued	interest	receivable	on	available-for-sale	securities	and	held-to-maturity	securities	totaled	$32	million	and	$20	million,	respectively.2020	Form	10-K					123StandardSummary	of	guidanceEffects	on	financial	statementsASU	2020-04	-	Reference	Rate	Reform	(Topic	848):	Facilitation	of	the	Effects	of	Reference	Rate	Reform	on	Financial	Reporting	Issued:	March	2020;	Amended:	January	2021•The	ASU	provides	optional	expedients	and	exceptions	for	applying	U.S.	GAAP	to	contracts,	hedging	relationships,	and	other	transactions	affected	by	reference	rate	reform	if	certain	criteria	are	met,	including	the	following:◦Modifications	of	contracts	within	the	scope	of	Topics	310,	Receivables,	and	470,	Debt,	should	be	accounted	for	by	prospectively	adjusting	the	effective	interest	rate;◦Modifications	of	contracts	within	the	scope	of	Topic	842,	Leases,	should	be	accounted	for	as	a	continuation	of	the	existing	contracts	with	no	reassessments	of	the	lease	classification	or	discount	rate;◦The	ASU	also	provides	optional	expedients	for	various	hedging	relationships,	allowing	hedge	accounting	to	continue	uninterrupted,	provided	certain	criteria	are	met;	and,◦An	entity	may	make	a	one	time	election	to	sell,	transfer,	or	both	sell	and	transfer	debt	securities	classified	as	held	to	maturity	if	certain	criteria	are	met.•Topic	848	was	subsequently	amended	in	January	2021,	allowing	entities	to	elect	certain	optional	expedients	and	exceptions	in	Topic	848	relating	to	derivative	contracts	and	hedge	accounting	affected	by	the	discounting	transition	initiated	by	certain	central	clearing	parties.•Management	early	adopted	the	guidance	on	October	1,	2020.•While	neither	the	ASU	or	the	amendment	had		a	material	impact	on	Huntington’s		Consolidated	Financial	Statements,	they	do	ease	the	administrative	burden	of	accounting	for	contracts	impacted	by	reference	rate	reform.3.	PENDING	ACQUISITION	OF	TCF	FINANCIAL	CORPORATIONOn	December	13,	2020,	Huntington	announced	the	signing	of	a	definitive	merger	agreement		(the	“TCF/Huntington	Merger	Agreement”).		Under	the	terms	of	the	agreement,	which	was	unanimously	approved	by	the	boards	of	directors	of	both	companies,		TCF	Financial	Corporation,	the	parent	company	of	TCF	National	Bank	will	merge	into	Huntington	in	an	all-stock	transaction	valued	at	approximately	$6.0	billion	based	on	the	closing	stock	price	on	the	day	preceding	the	announcement.		TCF	is	a	financial	holding	company	headquartered	in	Detroit,	Michigan	with	reported	total	assets	of	$47.8	billion	based	on	their	balance	sheet	at	December	31,	2020.		Following	the	merger,	Huntington	will	operate	with	dual	headquarters	for	banking	operations	in	Detroit,	Michigan	and	Columbus,	Ohio.Under	the	terms	of	the	Merger	Agreement,	TCF	shareholders	will	receive	3.0028	shares	of	Huntington	common	stock	for	each	share	of	TCF	common	stock.		Holders	of	TCF	common	stock	will	receive	cash	in	lieu	of	fractional	shares.		Each	outstanding	share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock	of	TCF	will	be	converted	into	the	right	to	receive	one	share	of	a	newly	created	series	of	preferred	stock	of	Huntington.		Subject	to	receipt	of	regulatory	approvals	and	satisfaction	of	other	customary	closing	conditions,	including	approval	of	both	TCF	and	Huntington	shareholders,	the	transaction	is	anticipated	to	close	in	the	second	quarter	of	2021.122					Huntington	Bancshares	Incorporated4.	INVESTMENT	SECURITIES	AND	OTHER	SECURITIESDebt	securities	purchased	in	which	Huntington	has	the	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		All	other	debt	and	equity	securities	are	classified	as	either	available-for-sale	or	other	securities.	The	following	tables	provide	amortized	cost,	fair	value,	and	gross	unrealized	gains	and	losses	by	investment	category	at	December	31,	2020	and	2019:Unrealized(dollar	amounts	in	millions)AmortizedCost	(1)GrossGainsGrossLossesFair	ValueDecember	31,	2020Available-for-sale	securities:U.S.	Treasury$	5	$	—	$	—	$	5	Federal	agencies:Residential	CMO	3,550		121		(5)		3,666	Residential	MBS	7,843		97		(5)		7,935	Commercial	MBS	1,151		21		(9)		1,163	Other	agencies	60		2		—		62	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	12,609		241		(19)		12,831	Municipal	securities	2,928		91		(15)		3,004	Private-label	CMO	9		—		—		9	Asset-backed	securities	185		7		—		192	Corporate	debt	440		5		—		445	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	16,175	$	344	$	(34)	$	16,485	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	1,779	$	88	$	—	$	1,867	Residential	MBS	3,715		103		—		3,818	Commercial	MBS	3,118		191		—		3,309	Other	agencies	246		12		—		258	Total	federal	agency	and	other	agency	securities	8,858		394		—		9,252	Municipal	securities	3		—		—		3	Total	held-to-maturity	securities$	8,861	$	394	$	—	$	9,255	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	60	$	—	$	—	$	60	Federal	Reserve	Bank	stock	299		—		—		299	Other	securities,	at	fair	valueMutual	funds	50		—		—		50	Equity	securities	8		1		—		9	Total	other	securities$	417	$	1	$	—	$	418	(1)Amortized	cost	amounts	excludes	accrued	interest	receivable,	which	is	recorded	within	other	assets	on	the	Consolidated	Balance	Sheets.		At	December	31,	2020,	accrued	interest	receivable	on	available-for-sale	securities	and	held-to-maturity	securities	totaled	$32	million	and	$20	million,	respectively.2020	Form	10-K					123StandardSummary	of	guidanceEffects	on	financial	statementsASU	2020-04	-	Reference	Rate	Reform	(Topic	848):	Facilitation	of	the	Effects	of	Reference	Rate	Reform	on	Financial	Reporting	Issued:	March	2020;	Amended:	January	2021•The	ASU	provides	optional	expedients	and	exceptions	for	applying	U.S.	GAAP	to	contracts,	hedging	relationships,	and	other	transactions	affected	by	reference	rate	reform	if	certain	criteria	are	met,	including	the	following:◦Modifications	of	contracts	within	the	scope	of	Topics	310,	Receivables,	and	470,	Debt,	should	be	accounted	for	by	prospectively	adjusting	the	effective	interest	rate;◦Modifications	of	contracts	within	the	scope	of	Topic	842,	Leases,	should	be	accounted	for	as	a	continuation	of	the	existing	contracts	with	no	reassessments	of	the	lease	classification	or	discount	rate;◦The	ASU	also	provides	optional	expedients	for	various	hedging	relationships,	allowing	hedge	accounting	to	continue	uninterrupted,	provided	certain	criteria	are	met;	and,◦An	entity	may	make	a	one	time	election	to	sell,	transfer,	or	both	sell	and	transfer	debt	securities	classified	as	held	to	maturity	if	certain	criteria	are	met.•Topic	848	was	subsequently	amended	in	January	2021,	allowing	entities	to	elect	certain	optional	expedients	and	exceptions	in	Topic	848	relating	to	derivative	contracts	and	hedge	accounting	affected	by	the	discounting	transition	initiated	by	certain	central	clearing	parties.•Management	early	adopted	the	guidance	on	October	1,	2020.•While	neither	the	ASU	or	the	amendment	had		a	material	impact	on	Huntington’s		Consolidated	Financial	Statements,	they	do	ease	the	administrative	burden	of	accounting	for	contracts	impacted	by	reference	rate	reform.3.	PENDING	ACQUISITION	OF	TCF	FINANCIAL	CORPORATIONOn	December	13,	2020,	Huntington	announced	the	signing	of	a	definitive	merger	agreement		(the	“TCF/Huntington	Merger	Agreement”).		Under	the	terms	of	the	agreement,	which	was	unanimously	approved	by	the	boards	of	directors	of	both	companies,		TCF	Financial	Corporation,	the	parent	company	of	TCF	National	Bank	will	merge	into	Huntington	in	an	all-stock	transaction	valued	at	approximately	$6.0	billion	based	on	the	closing	stock	price	on	the	day	preceding	the	announcement.		TCF	is	a	financial	holding	company	headquartered	in	Detroit,	Michigan	with	reported	total	assets	of	$47.8	billion	based	on	their	balance	sheet	at	December	31,	2020.		Following	the	merger,	Huntington	will	operate	with	dual	headquarters	for	banking	operations	in	Detroit,	Michigan	and	Columbus,	Ohio.Under	the	terms	of	the	Merger	Agreement,	TCF	shareholders	will	receive	3.0028	shares	of	Huntington	common	stock	for	each	share	of	TCF	common	stock.		Holders	of	TCF	common	stock	will	receive	cash	in	lieu	of	fractional	shares.		Each	outstanding	share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock	of	TCF	will	be	converted	into	the	right	to	receive	one	share	of	a	newly	created	series	of	preferred	stock	of	Huntington.		Subject	to	receipt	of	regulatory	approvals	and	satisfaction	of	other	customary	closing	conditions,	including	approval	of	both	TCF	and	Huntington	shareholders,	the	transaction	is	anticipated	to	close	in	the	second	quarter	of	2021.122					Huntington	Bancshares	Incorporated4.	INVESTMENT	SECURITIES	AND	OTHER	SECURITIESDebt	securities	purchased	in	which	Huntington	has	the	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		All	other	debt	and	equity	securities	are	classified	as	either	available-for-sale	or	other	securities.	The	following	tables	provide	amortized	cost,	fair	value,	and	gross	unrealized	gains	and	losses	by	investment	category	at	December	31,	2020	and	2019:Unrealized(dollar	amounts	in	millions)AmortizedCost	(1)GrossGainsGrossLossesFair	ValueDecember	31,	2020Available-for-sale	securities:U.S.	Treasury$	5	$	—	$	—	$	5	Federal	agencies:Residential	CMO	3,550		121		(5)		3,666	Residential	MBS	7,843		97		(5)		7,935	Commercial	MBS	1,151		21		(9)		1,163	Other	agencies	60		2		—		62	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	12,609		241		(19)		12,831	Municipal	securities	2,928		91		(15)		3,004	Private-label	CMO	9		—		—		9	Asset-backed	securities	185		7		—		192	Corporate	debt	440		5		—		445	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	16,175	$	344	$	(34)	$	16,485	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	1,779	$	88	$	—	$	1,867	Residential	MBS	3,715		103		—		3,818	Commercial	MBS	3,118		191		—		3,309	Other	agencies	246		12		—		258	Total	federal	agency	and	other	agency	securities	8,858		394		—		9,252	Municipal	securities	3		—		—		3	Total	held-to-maturity	securities$	8,861	$	394	$	—	$	9,255	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	60	$	—	$	—	$	60	Federal	Reserve	Bank	stock	299		—		—		299	Other	securities,	at	fair	valueMutual	funds	50		—		—		50	Equity	securities	8		1		—		9	Total	other	securities$	417	$	1	$	—	$	418	(1)Amortized	cost	amounts	excludes	accrued	interest	receivable,	which	is	recorded	within	other	assets	on	the	Consolidated	Balance	Sheets.		At	December	31,	2020,	accrued	interest	receivable	on	available-for-sale	securities	and	held-to-maturity	securities	totaled	$32	million	and	$20	million,	respectively.2020	Form	10-K					123StandardSummary	of	guidanceEffects	on	financial	statementsASU	2020-04	-	Reference	Rate	Reform	(Topic	848):	Facilitation	of	the	Effects	of	Reference	Rate	Reform	on	Financial	Reporting	Issued:	March	2020;	Amended:	January	2021•The	ASU	provides	optional	expedients	and	exceptions	for	applying	U.S.	GAAP	to	contracts,	hedging	relationships,	and	other	transactions	affected	by	reference	rate	reform	if	certain	criteria	are	met,	including	the	following:◦Modifications	of	contracts	within	the	scope	of	Topics	310,	Receivables,	and	470,	Debt,	should	be	accounted	for	by	prospectively	adjusting	the	effective	interest	rate;◦Modifications	of	contracts	within	the	scope	of	Topic	842,	Leases,	should	be	accounted	for	as	a	continuation	of	the	existing	contracts	with	no	reassessments	of	the	lease	classification	or	discount	rate;◦The	ASU	also	provides	optional	expedients	for	various	hedging	relationships,	allowing	hedge	accounting	to	continue	uninterrupted,	provided	certain	criteria	are	met;	and,◦An	entity	may	make	a	one	time	election	to	sell,	transfer,	or	both	sell	and	transfer	debt	securities	classified	as	held	to	maturity	if	certain	criteria	are	met.•Topic	848	was	subsequently	amended	in	January	2021,	allowing	entities	to	elect	certain	optional	expedients	and	exceptions	in	Topic	848	relating	to	derivative	contracts	and	hedge	accounting	affected	by	the	discounting	transition	initiated	by	certain	central	clearing	parties.•Management	early	adopted	the	guidance	on	October	1,	2020.•While	neither	the	ASU	or	the	amendment	had		a	material	impact	on	Huntington’s		Consolidated	Financial	Statements,	they	do	ease	the	administrative	burden	of	accounting	for	contracts	impacted	by	reference	rate	reform.3.	PENDING	ACQUISITION	OF	TCF	FINANCIAL	CORPORATIONOn	December	13,	2020,	Huntington	announced	the	signing	of	a	definitive	merger	agreement		(the	“TCF/Huntington	Merger	Agreement”).		Under	the	terms	of	the	agreement,	which	was	unanimously	approved	by	the	boards	of	directors	of	both	companies,		TCF	Financial	Corporation,	the	parent	company	of	TCF	National	Bank	will	merge	into	Huntington	in	an	all-stock	transaction	valued	at	approximately	$6.0	billion	based	on	the	closing	stock	price	on	the	day	preceding	the	announcement.		TCF	is	a	financial	holding	company	headquartered	in	Detroit,	Michigan	with	reported	total	assets	of	$47.8	billion	based	on	their	balance	sheet	at	December	31,	2020.		Following	the	merger,	Huntington	will	operate	with	dual	headquarters	for	banking	operations	in	Detroit,	Michigan	and	Columbus,	Ohio.Under	the	terms	of	the	Merger	Agreement,	TCF	shareholders	will	receive	3.0028	shares	of	Huntington	common	stock	for	each	share	of	TCF	common	stock.		Holders	of	TCF	common	stock	will	receive	cash	in	lieu	of	fractional	shares.		Each	outstanding	share	of	5.70%	Series	C	Non-Cumulative	Perpetual	Preferred	Stock	of	TCF	will	be	converted	into	the	right	to	receive	one	share	of	a	newly	created	series	of	preferred	stock	of	Huntington.		Subject	to	receipt	of	regulatory	approvals	and	satisfaction	of	other	customary	closing	conditions,	including	approval	of	both	TCF	and	Huntington	shareholders,	the	transaction	is	anticipated	to	close	in	the	second	quarter	of	2021.122					Huntington	Bancshares	Incorporated4.	INVESTMENT	SECURITIES	AND	OTHER	SECURITIESDebt	securities	purchased	in	which	Huntington	has	the	intent	and	ability	to	hold	to	their	maturity	are	classified	as	held-to-maturity	securities.		All	other	debt	and	equity	securities	are	classified	as	either	available-for-sale	or	other	securities.	The	following	tables	provide	amortized	cost,	fair	value,	and	gross	unrealized	gains	and	losses	by	investment	category	at	December	31,	2020	and	2019:Unrealized(dollar	amounts	in	millions)AmortizedCost	(1)GrossGainsGrossLossesFair	ValueDecember	31,	2020Available-for-sale	securities:U.S.	Treasury$	5	$	—	$	—	$	5	Federal	agencies:Residential	CMO	3,550		121		(5)		3,666	Residential	MBS	7,843		97		(5)		7,935	Commercial	MBS	1,151		21		(9)		1,163	Other	agencies	60		2		—		62	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	12,609		241		(19)		12,831	Municipal	securities	2,928		91		(15)		3,004	Private-label	CMO	9		—		—		9	Asset-backed	securities	185		7		—		192	Corporate	debt	440		5		—		445	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	16,175	$	344	$	(34)	$	16,485	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	1,779	$	88	$	—	$	1,867	Residential	MBS	3,715		103		—		3,818	Commercial	MBS	3,118		191		—		3,309	Other	agencies	246		12		—		258	Total	federal	agency	and	other	agency	securities	8,858		394		—		9,252	Municipal	securities	3		—		—		3	Total	held-to-maturity	securities$	8,861	$	394	$	—	$	9,255	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	60	$	—	$	—	$	60	Federal	Reserve	Bank	stock	299		—		—		299	Other	securities,	at	fair	valueMutual	funds	50		—		—		50	Equity	securities	8		1		—		9	Total	other	securities$	417	$	1	$	—	$	418	(1)Amortized	cost	amounts	excludes	accrued	interest	receivable,	which	is	recorded	within	other	assets	on	the	Consolidated	Balance	Sheets.		At	December	31,	2020,	accrued	interest	receivable	on	available-for-sale	securities	and	held-to-maturity	securities	totaled	$32	million	and	$20	million,	respectively.2020	Form	10-K					123Unrealized(dollar	amounts	in	millions)AmortizedCostGrossGainsGrossLossesFair	ValueDecember	31,	2019Available-for-sale	securities:U.S.	Treasury$	10	$	—	$	—	$	10	Federal	agencies:Residential	CMO	5,055		48		(18)		5,085	Residential	MBS	4,180		45		(3)		4,222	Commercial	MBS	979		1		(4)		976	Other	agencies	165		1		(1)		165	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	10,389		95		(26)		10,458	Municipal	securities	3,044		34		(23)		3,055	Private-label	CMO	2		—		—		2	Asset-backed	securities	575		6		(2)		579	Corporate	debt	49		2		—		51	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	14,063	$	137	$	(51)	$	14,149	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	2,351	$	33	$	(3)	$	2,381	Residential	MBS	2,463		50		—		2,513	Commercial	MBS	3,959		34		—		3,993	Other	agencies	293		2		—		295	Total	federal	agency	and	other	agency	securities	9,066		119		(3)		9,182	Municipal	securities	4		—		—		4	Total	held-to-maturity	securities$	9,070	$	119	$	(3)	$	9,186	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	90	$	—	$	—	$	90	Federal	Reserve	Bank	stock	297		—		—		297	Other	securities,	at	fair	valueMutual	funds	53		—		—		53	Equity	securities	1		—		—		1	Total	other	securities$	441	$	—	$	—	$	441	124					Huntington	Bancshares	IncorporatedThe	following	table	provides	the	amortized	cost	and	fair	value	of	securities	by	contractual	maturity	at	December	31,	2020	and	2019.		Expected	maturities	may	differ	from	contractual	maturities	as	issuers	may	have	the	right	to	call	or	prepay	obligations	with	or	without	incurring	penalties.20202019(dollar	amounts	in	millions)AmortizedCostFairValueAmortizedCostFairValueAvailable-for-sale	securities:Under	1	year$	308	$	304	$	231	$	229	After	1	year	through	5	years	1,145		1,154		1,196		1,189	After	5	years	through	10	years	1,607		1,654		1,594		1,606	After	10	years	13,115		13,373		11,042		11,125	Total	available-for-sale	securities$	16,175	$	16,485	$	14,063	$	14,149	Held-to-maturity	securities:Under	1	year$	—	$	—	$	—	$	—	After	1	year	through	5	years	160		169		17		17	After	5	years	through	10	years	131		138		300		305	After	10	years	8,570		8,948		8,753		8,864	Total	held-to-maturity	securities$	8,861	$	9,255	$	9,070	$	9,186	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	at	December	31,	2020	and	2019:Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2020Available-for-sale	securities:Federal	agencies:Residential	CMO$	302	$	(5)	$	—	$	—	$	302	$	(5)	Residential	MBS	1,633		(5)		—		—		1,633		(5)	Commercial	MBS	321		(9)		—		—		321		(9)	Other	agencies	—		—		—		—		—		—	Total	federal	agency	and	other	agency	securities	2,256		(19)		—		—		2,256		(19)	Municipal	securities	110		(3)		490		(12)		600		(15)	Asset-backed	securities	15		—		—		—		15		—	Corporate	debt	51		—		—		—		51		—	Total	temporarily	impaired	available-for-sale	securities$	2,432	$	(22)	$	490	$	(12)	$	2,922	$	(34)	2020	Form	10-K					125Unrealized(dollar	amounts	in	millions)AmortizedCostGrossGainsGrossLossesFair	ValueDecember	31,	2019Available-for-sale	securities:U.S.	Treasury$	10	$	—	$	—	$	10	Federal	agencies:Residential	CMO	5,055		48		(18)		5,085	Residential	MBS	4,180		45		(3)		4,222	Commercial	MBS	979		1		(4)		976	Other	agencies	165		1		(1)		165	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	10,389		95		(26)		10,458	Municipal	securities	3,044		34		(23)		3,055	Private-label	CMO	2		—		—		2	Asset-backed	securities	575		6		(2)		579	Corporate	debt	49		2		—		51	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	14,063	$	137	$	(51)	$	14,149	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	2,351	$	33	$	(3)	$	2,381	Residential	MBS	2,463		50		—		2,513	Commercial	MBS	3,959		34		—		3,993	Other	agencies	293		2		—		295	Total	federal	agency	and	other	agency	securities	9,066		119		(3)		9,182	Municipal	securities	4		—		—		4	Total	held-to-maturity	securities$	9,070	$	119	$	(3)	$	9,186	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	90	$	—	$	—	$	90	Federal	Reserve	Bank	stock	297		—		—		297	Other	securities,	at	fair	valueMutual	funds	53		—		—		53	Equity	securities	1		—		—		1	Total	other	securities$	441	$	—	$	—	$	441	124					Huntington	Bancshares	IncorporatedThe	following	table	provides	the	amortized	cost	and	fair	value	of	securities	by	contractual	maturity	at	December	31,	2020	and	2019.		Expected	maturities	may	differ	from	contractual	maturities	as	issuers	may	have	the	right	to	call	or	prepay	obligations	with	or	without	incurring	penalties.20202019(dollar	amounts	in	millions)AmortizedCostFairValueAmortizedCostFairValueAvailable-for-sale	securities:Under	1	year$	308	$	304	$	231	$	229	After	1	year	through	5	years	1,145		1,154		1,196		1,189	After	5	years	through	10	years	1,607		1,654		1,594		1,606	After	10	years	13,115		13,373		11,042		11,125	Total	available-for-sale	securities$	16,175	$	16,485	$	14,063	$	14,149	Held-to-maturity	securities:Under	1	year$	—	$	—	$	—	$	—	After	1	year	through	5	years	160		169		17		17	After	5	years	through	10	years	131		138		300		305	After	10	years	8,570		8,948		8,753		8,864	Total	held-to-maturity	securities$	8,861	$	9,255	$	9,070	$	9,186	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	at	December	31,	2020	and	2019:Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2020Available-for-sale	securities:Federal	agencies:Residential	CMO$	302	$	(5)	$	—	$	—	$	302	$	(5)	Residential	MBS	1,633		(5)		—		—		1,633		(5)	Commercial	MBS	321		(9)		—		—		321		(9)	Other	agencies	—		—		—		—		—		—	Total	federal	agency	and	other	agency	securities	2,256		(19)		—		—		2,256		(19)	Municipal	securities	110		(3)		490		(12)		600		(15)	Asset-backed	securities	15		—		—		—		15		—	Corporate	debt	51		—		—		—		51		—	Total	temporarily	impaired	available-for-sale	securities$	2,432	$	(22)	$	490	$	(12)	$	2,922	$	(34)	2020	Form	10-K					125Unrealized(dollar	amounts	in	millions)AmortizedCostGrossGainsGrossLossesFair	ValueDecember	31,	2019Available-for-sale	securities:U.S.	Treasury$	10	$	—	$	—	$	10	Federal	agencies:Residential	CMO	5,055		48		(18)		5,085	Residential	MBS	4,180		45		(3)		4,222	Commercial	MBS	979		1		(4)		976	Other	agencies	165		1		(1)		165	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	10,389		95		(26)		10,458	Municipal	securities	3,044		34		(23)		3,055	Private-label	CMO	2		—		—		2	Asset-backed	securities	575		6		(2)		579	Corporate	debt	49		2		—		51	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	14,063	$	137	$	(51)	$	14,149	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	2,351	$	33	$	(3)	$	2,381	Residential	MBS	2,463		50		—		2,513	Commercial	MBS	3,959		34		—		3,993	Other	agencies	293		2		—		295	Total	federal	agency	and	other	agency	securities	9,066		119		(3)		9,182	Municipal	securities	4		—		—		4	Total	held-to-maturity	securities$	9,070	$	119	$	(3)	$	9,186	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	90	$	—	$	—	$	90	Federal	Reserve	Bank	stock	297		—		—		297	Other	securities,	at	fair	valueMutual	funds	53		—		—		53	Equity	securities	1		—		—		1	Total	other	securities$	441	$	—	$	—	$	441	124					Huntington	Bancshares	IncorporatedThe	following	table	provides	the	amortized	cost	and	fair	value	of	securities	by	contractual	maturity	at	December	31,	2020	and	2019.		Expected	maturities	may	differ	from	contractual	maturities	as	issuers	may	have	the	right	to	call	or	prepay	obligations	with	or	without	incurring	penalties.20202019(dollar	amounts	in	millions)AmortizedCostFairValueAmortizedCostFairValueAvailable-for-sale	securities:Under	1	year$	308	$	304	$	231	$	229	After	1	year	through	5	years	1,145		1,154		1,196		1,189	After	5	years	through	10	years	1,607		1,654		1,594		1,606	After	10	years	13,115		13,373		11,042		11,125	Total	available-for-sale	securities$	16,175	$	16,485	$	14,063	$	14,149	Held-to-maturity	securities:Under	1	year$	—	$	—	$	—	$	—	After	1	year	through	5	years	160		169		17		17	After	5	years	through	10	years	131		138		300		305	After	10	years	8,570		8,948		8,753		8,864	Total	held-to-maturity	securities$	8,861	$	9,255	$	9,070	$	9,186	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	at	December	31,	2020	and	2019:Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2020Available-for-sale	securities:Federal	agencies:Residential	CMO$	302	$	(5)	$	—	$	—	$	302	$	(5)	Residential	MBS	1,633		(5)		—		—		1,633		(5)	Commercial	MBS	321		(9)		—		—		321		(9)	Other	agencies	—		—		—		—		—		—	Total	federal	agency	and	other	agency	securities	2,256		(19)		—		—		2,256		(19)	Municipal	securities	110		(3)		490		(12)		600		(15)	Asset-backed	securities	15		—		—		—		15		—	Corporate	debt	51		—		—		—		51		—	Total	temporarily	impaired	available-for-sale	securities$	2,432	$	(22)	$	490	$	(12)	$	2,922	$	(34)	2020	Form	10-K					125Unrealized(dollar	amounts	in	millions)AmortizedCostGrossGainsGrossLossesFair	ValueDecember	31,	2019Available-for-sale	securities:U.S.	Treasury$	10	$	—	$	—	$	10	Federal	agencies:Residential	CMO	5,055		48		(18)		5,085	Residential	MBS	4,180		45		(3)		4,222	Commercial	MBS	979		1		(4)		976	Other	agencies	165		1		(1)		165	Total	U.S.	Treasury,	federal	agency	and	other	agency	securities	10,389		95		(26)		10,458	Municipal	securities	3,044		34		(23)		3,055	Private-label	CMO	2		—		—		2	Asset-backed	securities	575		6		(2)		579	Corporate	debt	49		2		—		51	Other	securities/Sovereign	debt	4		—		—		4	Total	available-for-sale	securities$	14,063	$	137	$	(51)	$	14,149	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	2,351	$	33	$	(3)	$	2,381	Residential	MBS	2,463		50		—		2,513	Commercial	MBS	3,959		34		—		3,993	Other	agencies	293		2		—		295	Total	federal	agency	and	other	agency	securities	9,066		119		(3)		9,182	Municipal	securities	4		—		—		4	Total	held-to-maturity	securities$	9,070	$	119	$	(3)	$	9,186	Other	securities,	at	cost:Non-marketable	equity	securities:Federal	Home	Loan	Bank	stock$	90	$	—	$	—	$	90	Federal	Reserve	Bank	stock	297		—		—		297	Other	securities,	at	fair	valueMutual	funds	53		—		—		53	Equity	securities	1		—		—		1	Total	other	securities$	441	$	—	$	—	$	441	124					Huntington	Bancshares	IncorporatedThe	following	table	provides	the	amortized	cost	and	fair	value	of	securities	by	contractual	maturity	at	December	31,	2020	and	2019.		Expected	maturities	may	differ	from	contractual	maturities	as	issuers	may	have	the	right	to	call	or	prepay	obligations	with	or	without	incurring	penalties.20202019(dollar	amounts	in	millions)AmortizedCostFairValueAmortizedCostFairValueAvailable-for-sale	securities:Under	1	year$	308	$	304	$	231	$	229	After	1	year	through	5	years	1,145		1,154		1,196		1,189	After	5	years	through	10	years	1,607		1,654		1,594		1,606	After	10	years	13,115		13,373		11,042		11,125	Total	available-for-sale	securities$	16,175	$	16,485	$	14,063	$	14,149	Held-to-maturity	securities:Under	1	year$	—	$	—	$	—	$	—	After	1	year	through	5	years	160		169		17		17	After	5	years	through	10	years	131		138		300		305	After	10	years	8,570		8,948		8,753		8,864	Total	held-to-maturity	securities$	8,861	$	9,255	$	9,070	$	9,186	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	at	December	31,	2020	and	2019:Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2020Available-for-sale	securities:Federal	agencies:Residential	CMO$	302	$	(5)	$	—	$	—	$	302	$	(5)	Residential	MBS	1,633		(5)		—		—		1,633		(5)	Commercial	MBS	321		(9)		—		—		321		(9)	Other	agencies	—		—		—		—		—		—	Total	federal	agency	and	other	agency	securities	2,256		(19)		—		—		2,256		(19)	Municipal	securities	110		(3)		490		(12)		600		(15)	Asset-backed	securities	15		—		—		—		15		—	Corporate	debt	51		—		—		—		51		—	Total	temporarily	impaired	available-for-sale	securities$	2,432	$	(22)	$	490	$	(12)	$	2,922	$	(34)	2020	Form	10-K					125Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2019Available-for-sale	securities:Federal	agencies:Residential	CMO$	1,206	$	(10)	$	519	$	(8)	$	1,725	$	(18)	Residential	MBS	1,169		(3)		9		—		1,178		(3)	Commercial	MBS	472		(2)		272		(2)		744		(4)	Other	agencies	86		(1)		—		—		86		(1)	Total	federal	agency	and	other	agency	securities	2,933		(16)		800		(10)		3,733		(26)	Municipal	securities	273		(4)		1,204		(19)		1,477		(23)	Asset-backed	securities	116		(1)		37		(1)		153		(2)	Corporate	debt	1		—		—		—		1		—	Total	temporarily	impaired	available-for-sale	securities$	3,323	$	(21)	$	2,041	$	(30)	$	5,364	$	(51)	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	218	$	(1)	$	112	$	(2)	$	330	$	(3)	Residential	MBS	317		—		—		—		317		—	Commercial	MBS	81		—		—		—		81		—	Other	agencies	58		—		—		—		58		—	Total	federal	agency	and	other	agency	securities	674		(1)		112		(2)		786		(3)	Municipal	securities	4		—		—		—		4		—	Total	temporarily	impaired	held-to-maturity	securities$	678	$	(1)	$	112	$	(2)	$	790	$	(3)	During	2020,	Huntington	transferred	a	total	of	$2.8	billion	of	securities	from	the	AFS	portfolio	to	the	HTM	portfolio.		At	the	time	of	the	transfers,	AOCI	included	a	combined	total	of	$21	million	of	unrealized	gains	attributed	to	these	securities.		This	gain	will	be	amortized	into	interest	income	over	the	remaining	life	of	the	securities.		At	December	31,	2020	and	December	31,	2019,	the	carrying	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	security	repurchase	agreements	and	to	support	borrowing	capacity	totaled	$14.4	billion	and	$3.8	billion,	respectively.		There	were	no	securities	of	a	single	issuer,	which	were	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	either	December	31,	2020	or	December	31,	2019.		At	December	31,	2020,	all	HTM	debt	securities	are	considered	AAA	rated.		In	addition,	there	were	no	HTM	debt	securities	considered	past	due	at	December	31,	2020.AFS	Securities	Impairment/HTM	Securities	Allowance	for	Credit	LossesBased	on	an	evaluation	of	available	information	including	security	type,	counterparty	credit	quality,	past	events,	current	conditions,	and	reasonable	and	supportable	forecasts	that	are	relevant	to	collectability,	Huntington	has	concluded	that	it	expects	to	receive	all	contractual	cash	flows	from	each	security	held	in	its	AFS	and	HTM	debt	securities	portfolio.		As	such,	no	allowance	or	impairment	is	recorded	with	respect	to	securities	as	of	December	31,	2020.126					Huntington	Bancshares	Incorporated5.	LOANS	/	LEASESLoans	and	leases	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	until	maturity	or	payoff,	are	classified	in	the	Consolidated	Balance	Sheets	as	loans	and	leases.		The	total	balance	of	unamortized	premiums,	discounts,	fees,	and	costs,	recognized	as	part	of	loans	and	leases,	was	a	net	premium	of	$491	million	and	$525	million	at	December	31,	2020	and	2019,	respectively.Loan	and	Lease	Portfolio	CompositionThe	following	table	provides	a	detailed	listing	of	Huntington’s	loan	and	lease	portfolio	at	December	31,	2020	and	December	31,	2019.At	December	31,(dollar	amounts	in	millions)20202019Loans	and	leases:Commercial	and	industrial$	35,373	$	30,664	Commercial	real	estate	7,199		6,674	Automobile	12,778		12,797	Home	equity	8,894		9,093	Residential	mortgage	12,141		11,376	RV	and	marine	4,190		3,563	Other	consumer	1,033		1,237	Total	Loans	and	leases	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases$	79,794	$	74,621	Equipment	LeasesHuntington	leases	equipment	to	customers,	and	substantially	all	such	arrangements	are	classified	as	either	sales-type	or	direct	financing	leases,	which	are	included	in	C&I	loans.		These	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	originate	these	leases.		Renewal	options	for	leases	are	at	the	option	of	the	lessee,	and	are	not	included	in	the	measurement	of	lease	receivables	as	they	are	not	considered	reasonably	certain	of	exercise.		Purchase	options	are	typically	at	fair	value,	and	as	such	those	options	are	not	considered	in	the	measurement	of	lease	receivables	or	in	lease	classification.	For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	contacts	and	are	factored	into	residual	value	estimates	where	applicable.		Upon	expiration	of	a	lease,	residual	assets	are	remarketed,	resulting	in	an	extension	of	the	lease	by	the	lessee,	a	lease	to	a	new	customer,	or	purchase	of	the	residual	asset	by	the	lessee	or	another	party.		Huntington	also	purchases	insurance	guaranteeing	the	value	of	certain	residual	assets.Huntington	assesses	net	investments	in	leases	(including	residual	values)	for	impairment	and	recognizes	any	impairment	losses	in	accordance	with	the	impairment	guidance	for	financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	changes	recognized	as	provision	expense.	2020	Form	10-K					127Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2019Available-for-sale	securities:Federal	agencies:Residential	CMO$	1,206	$	(10)	$	519	$	(8)	$	1,725	$	(18)	Residential	MBS	1,169		(3)		9		—		1,178		(3)	Commercial	MBS	472		(2)		272		(2)		744		(4)	Other	agencies	86		(1)		—		—		86		(1)	Total	federal	agency	and	other	agency	securities	2,933		(16)		800		(10)		3,733		(26)	Municipal	securities	273		(4)		1,204		(19)		1,477		(23)	Asset-backed	securities	116		(1)		37		(1)		153		(2)	Corporate	debt	1		—		—		—		1		—	Total	temporarily	impaired	available-for-sale	securities$	3,323	$	(21)	$	2,041	$	(30)	$	5,364	$	(51)	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	218	$	(1)	$	112	$	(2)	$	330	$	(3)	Residential	MBS	317		—		—		—		317		—	Commercial	MBS	81		—		—		—		81		—	Other	agencies	58		—		—		—		58		—	Total	federal	agency	and	other	agency	securities	674		(1)		112		(2)		786		(3)	Municipal	securities	4		—		—		—		4		—	Total	temporarily	impaired	held-to-maturity	securities$	678	$	(1)	$	112	$	(2)	$	790	$	(3)	During	2020,	Huntington	transferred	a	total	of	$2.8	billion	of	securities	from	the	AFS	portfolio	to	the	HTM	portfolio.		At	the	time	of	the	transfers,	AOCI	included	a	combined	total	of	$21	million	of	unrealized	gains	attributed	to	these	securities.		This	gain	will	be	amortized	into	interest	income	over	the	remaining	life	of	the	securities.		At	December	31,	2020	and	December	31,	2019,	the	carrying	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	security	repurchase	agreements	and	to	support	borrowing	capacity	totaled	$14.4	billion	and	$3.8	billion,	respectively.		There	were	no	securities	of	a	single	issuer,	which	were	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	either	December	31,	2020	or	December	31,	2019.		At	December	31,	2020,	all	HTM	debt	securities	are	considered	AAA	rated.		In	addition,	there	were	no	HTM	debt	securities	considered	past	due	at	December	31,	2020.AFS	Securities	Impairment/HTM	Securities	Allowance	for	Credit	LossesBased	on	an	evaluation	of	available	information	including	security	type,	counterparty	credit	quality,	past	events,	current	conditions,	and	reasonable	and	supportable	forecasts	that	are	relevant	to	collectability,	Huntington	has	concluded	that	it	expects	to	receive	all	contractual	cash	flows	from	each	security	held	in	its	AFS	and	HTM	debt	securities	portfolio.		As	such,	no	allowance	or	impairment	is	recorded	with	respect	to	securities	as	of	December	31,	2020.126					Huntington	Bancshares	Incorporated5.	LOANS	/	LEASESLoans	and	leases	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	until	maturity	or	payoff,	are	classified	in	the	Consolidated	Balance	Sheets	as	loans	and	leases.		The	total	balance	of	unamortized	premiums,	discounts,	fees,	and	costs,	recognized	as	part	of	loans	and	leases,	was	a	net	premium	of	$491	million	and	$525	million	at	December	31,	2020	and	2019,	respectively.Loan	and	Lease	Portfolio	CompositionThe	following	table	provides	a	detailed	listing	of	Huntington’s	loan	and	lease	portfolio	at	December	31,	2020	and	December	31,	2019.At	December	31,(dollar	amounts	in	millions)20202019Loans	and	leases:Commercial	and	industrial$	35,373	$	30,664	Commercial	real	estate	7,199		6,674	Automobile	12,778		12,797	Home	equity	8,894		9,093	Residential	mortgage	12,141		11,376	RV	and	marine	4,190		3,563	Other	consumer	1,033		1,237	Total	Loans	and	leases	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases$	79,794	$	74,621	Equipment	LeasesHuntington	leases	equipment	to	customers,	and	substantially	all	such	arrangements	are	classified	as	either	sales-type	or	direct	financing	leases,	which	are	included	in	C&I	loans.		These	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	originate	these	leases.		Renewal	options	for	leases	are	at	the	option	of	the	lessee,	and	are	not	included	in	the	measurement	of	lease	receivables	as	they	are	not	considered	reasonably	certain	of	exercise.		Purchase	options	are	typically	at	fair	value,	and	as	such	those	options	are	not	considered	in	the	measurement	of	lease	receivables	or	in	lease	classification.	For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	contacts	and	are	factored	into	residual	value	estimates	where	applicable.		Upon	expiration	of	a	lease,	residual	assets	are	remarketed,	resulting	in	an	extension	of	the	lease	by	the	lessee,	a	lease	to	a	new	customer,	or	purchase	of	the	residual	asset	by	the	lessee	or	another	party.		Huntington	also	purchases	insurance	guaranteeing	the	value	of	certain	residual	assets.Huntington	assesses	net	investments	in	leases	(including	residual	values)	for	impairment	and	recognizes	any	impairment	losses	in	accordance	with	the	impairment	guidance	for	financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	changes	recognized	as	provision	expense.	2020	Form	10-K					127Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2019Available-for-sale	securities:Federal	agencies:Residential	CMO$	1,206	$	(10)	$	519	$	(8)	$	1,725	$	(18)	Residential	MBS	1,169		(3)		9		—		1,178		(3)	Commercial	MBS	472		(2)		272		(2)		744		(4)	Other	agencies	86		(1)		—		—		86		(1)	Total	federal	agency	and	other	agency	securities	2,933		(16)		800		(10)		3,733		(26)	Municipal	securities	273		(4)		1,204		(19)		1,477		(23)	Asset-backed	securities	116		(1)		37		(1)		153		(2)	Corporate	debt	1		—		—		—		1		—	Total	temporarily	impaired	available-for-sale	securities$	3,323	$	(21)	$	2,041	$	(30)	$	5,364	$	(51)	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	218	$	(1)	$	112	$	(2)	$	330	$	(3)	Residential	MBS	317		—		—		—		317		—	Commercial	MBS	81		—		—		—		81		—	Other	agencies	58		—		—		—		58		—	Total	federal	agency	and	other	agency	securities	674		(1)		112		(2)		786		(3)	Municipal	securities	4		—		—		—		4		—	Total	temporarily	impaired	held-to-maturity	securities$	678	$	(1)	$	112	$	(2)	$	790	$	(3)	During	2020,	Huntington	transferred	a	total	of	$2.8	billion	of	securities	from	the	AFS	portfolio	to	the	HTM	portfolio.		At	the	time	of	the	transfers,	AOCI	included	a	combined	total	of	$21	million	of	unrealized	gains	attributed	to	these	securities.		This	gain	will	be	amortized	into	interest	income	over	the	remaining	life	of	the	securities.		At	December	31,	2020	and	December	31,	2019,	the	carrying	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	security	repurchase	agreements	and	to	support	borrowing	capacity	totaled	$14.4	billion	and	$3.8	billion,	respectively.		There	were	no	securities	of	a	single	issuer,	which	were	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	either	December	31,	2020	or	December	31,	2019.		At	December	31,	2020,	all	HTM	debt	securities	are	considered	AAA	rated.		In	addition,	there	were	no	HTM	debt	securities	considered	past	due	at	December	31,	2020.AFS	Securities	Impairment/HTM	Securities	Allowance	for	Credit	LossesBased	on	an	evaluation	of	available	information	including	security	type,	counterparty	credit	quality,	past	events,	current	conditions,	and	reasonable	and	supportable	forecasts	that	are	relevant	to	collectability,	Huntington	has	concluded	that	it	expects	to	receive	all	contractual	cash	flows	from	each	security	held	in	its	AFS	and	HTM	debt	securities	portfolio.		As	such,	no	allowance	or	impairment	is	recorded	with	respect	to	securities	as	of	December	31,	2020.126					Huntington	Bancshares	Incorporated5.	LOANS	/	LEASESLoans	and	leases	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	until	maturity	or	payoff,	are	classified	in	the	Consolidated	Balance	Sheets	as	loans	and	leases.		The	total	balance	of	unamortized	premiums,	discounts,	fees,	and	costs,	recognized	as	part	of	loans	and	leases,	was	a	net	premium	of	$491	million	and	$525	million	at	December	31,	2020	and	2019,	respectively.Loan	and	Lease	Portfolio	CompositionThe	following	table	provides	a	detailed	listing	of	Huntington’s	loan	and	lease	portfolio	at	December	31,	2020	and	December	31,	2019.At	December	31,(dollar	amounts	in	millions)20202019Loans	and	leases:Commercial	and	industrial$	35,373	$	30,664	Commercial	real	estate	7,199		6,674	Automobile	12,778		12,797	Home	equity	8,894		9,093	Residential	mortgage	12,141		11,376	RV	and	marine	4,190		3,563	Other	consumer	1,033		1,237	Total	Loans	and	leases	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases$	79,794	$	74,621	Equipment	LeasesHuntington	leases	equipment	to	customers,	and	substantially	all	such	arrangements	are	classified	as	either	sales-type	or	direct	financing	leases,	which	are	included	in	C&I	loans.		These	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	originate	these	leases.		Renewal	options	for	leases	are	at	the	option	of	the	lessee,	and	are	not	included	in	the	measurement	of	lease	receivables	as	they	are	not	considered	reasonably	certain	of	exercise.		Purchase	options	are	typically	at	fair	value,	and	as	such	those	options	are	not	considered	in	the	measurement	of	lease	receivables	or	in	lease	classification.	For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	contacts	and	are	factored	into	residual	value	estimates	where	applicable.		Upon	expiration	of	a	lease,	residual	assets	are	remarketed,	resulting	in	an	extension	of	the	lease	by	the	lessee,	a	lease	to	a	new	customer,	or	purchase	of	the	residual	asset	by	the	lessee	or	another	party.		Huntington	also	purchases	insurance	guaranteeing	the	value	of	certain	residual	assets.Huntington	assesses	net	investments	in	leases	(including	residual	values)	for	impairment	and	recognizes	any	impairment	losses	in	accordance	with	the	impairment	guidance	for	financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	changes	recognized	as	provision	expense.	2020	Form	10-K					127Less	than	12	MonthsOver	12	MonthsTotal(dollar	amounts	in	millions)FairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesFairValueGross	UnrealizedLossesDecember	31,	2019Available-for-sale	securities:Federal	agencies:Residential	CMO$	1,206	$	(10)	$	519	$	(8)	$	1,725	$	(18)	Residential	MBS	1,169		(3)		9		—		1,178		(3)	Commercial	MBS	472		(2)		272		(2)		744		(4)	Other	agencies	86		(1)		—		—		86		(1)	Total	federal	agency	and	other	agency	securities	2,933		(16)		800		(10)		3,733		(26)	Municipal	securities	273		(4)		1,204		(19)		1,477		(23)	Asset-backed	securities	116		(1)		37		(1)		153		(2)	Corporate	debt	1		—		—		—		1		—	Total	temporarily	impaired	available-for-sale	securities$	3,323	$	(21)	$	2,041	$	(30)	$	5,364	$	(51)	Held-to-maturity	securities:Federal	agencies:Residential	CMO$	218	$	(1)	$	112	$	(2)	$	330	$	(3)	Residential	MBS	317		—		—		—		317		—	Commercial	MBS	81		—		—		—		81		—	Other	agencies	58		—		—		—		58		—	Total	federal	agency	and	other	agency	securities	674		(1)		112		(2)		786		(3)	Municipal	securities	4		—		—		—		4		—	Total	temporarily	impaired	held-to-maturity	securities$	678	$	(1)	$	112	$	(2)	$	790	$	(3)	During	2020,	Huntington	transferred	a	total	of	$2.8	billion	of	securities	from	the	AFS	portfolio	to	the	HTM	portfolio.		At	the	time	of	the	transfers,	AOCI	included	a	combined	total	of	$21	million	of	unrealized	gains	attributed	to	these	securities.		This	gain	will	be	amortized	into	interest	income	over	the	remaining	life	of	the	securities.		At	December	31,	2020	and	December	31,	2019,	the	carrying	value	of	investment	securities	pledged	to	secure	public	and	trust	deposits,	trading	account	liabilities,	U.S.	Treasury	demand	notes,	security	repurchase	agreements	and	to	support	borrowing	capacity	totaled	$14.4	billion	and	$3.8	billion,	respectively.		There	were	no	securities	of	a	single	issuer,	which	were	not	governmental	or	government-sponsored,	that	exceeded	10%	of	shareholders’	equity	at	either	December	31,	2020	or	December	31,	2019.		At	December	31,	2020,	all	HTM	debt	securities	are	considered	AAA	rated.		In	addition,	there	were	no	HTM	debt	securities	considered	past	due	at	December	31,	2020.AFS	Securities	Impairment/HTM	Securities	Allowance	for	Credit	LossesBased	on	an	evaluation	of	available	information	including	security	type,	counterparty	credit	quality,	past	events,	current	conditions,	and	reasonable	and	supportable	forecasts	that	are	relevant	to	collectability,	Huntington	has	concluded	that	it	expects	to	receive	all	contractual	cash	flows	from	each	security	held	in	its	AFS	and	HTM	debt	securities	portfolio.		As	such,	no	allowance	or	impairment	is	recorded	with	respect	to	securities	as	of	December	31,	2020.126					Huntington	Bancshares	Incorporated5.	LOANS	/	LEASESLoans	and	leases	which	Huntington	has	the	intent	and	ability	to	hold	for	the	foreseeable	future,	or	until	maturity	or	payoff,	are	classified	in	the	Consolidated	Balance	Sheets	as	loans	and	leases.		The	total	balance	of	unamortized	premiums,	discounts,	fees,	and	costs,	recognized	as	part	of	loans	and	leases,	was	a	net	premium	of	$491	million	and	$525	million	at	December	31,	2020	and	2019,	respectively.Loan	and	Lease	Portfolio	CompositionThe	following	table	provides	a	detailed	listing	of	Huntington’s	loan	and	lease	portfolio	at	December	31,	2020	and	December	31,	2019.At	December	31,(dollar	amounts	in	millions)20202019Loans	and	leases:Commercial	and	industrial$	35,373	$	30,664	Commercial	real	estate	7,199		6,674	Automobile	12,778		12,797	Home	equity	8,894		9,093	Residential	mortgage	12,141		11,376	RV	and	marine	4,190		3,563	Other	consumer	1,033		1,237	Total	Loans	and	leases	81,608		75,404	Allowance	for	loan	and	lease	losses	(1,814)		(783)	Net	loans	and	leases$	79,794	$	74,621	Equipment	LeasesHuntington	leases	equipment	to	customers,	and	substantially	all	such	arrangements	are	classified	as	either	sales-type	or	direct	financing	leases,	which	are	included	in	C&I	loans.		These	leases	are	reported	at	the	aggregate	of	lease	payments	receivable	and	estimated	residual	values,	net	of	unearned	and	deferred	income,	and	any	initial	direct	costs	incurred	to	originate	these	leases.		Renewal	options	for	leases	are	at	the	option	of	the	lessee,	and	are	not	included	in	the	measurement	of	lease	receivables	as	they	are	not	considered	reasonably	certain	of	exercise.		Purchase	options	are	typically	at	fair	value,	and	as	such	those	options	are	not	considered	in	the	measurement	of	lease	receivables	or	in	lease	classification.	For	leased	equipment,	the	residual	component	of	a	direct	financing	lease	represents	the	estimated	fair	value	of	the	leased	equipment	at	the	end	of	the	lease	term.		Huntington	uses	industry	data,	historical	experience,	and	independent	appraisals	to	establish	these	residual	value	estimates.		Additional	information	regarding	product	life	cycle,	product	upgrades,	as	well	as	insight	into	competing	products	are	obtained	through	relationships	with	industry	contacts	and	are	factored	into	residual	value	estimates	where	applicable.		Upon	expiration	of	a	lease,	residual	assets	are	remarketed,	resulting	in	an	extension	of	the	lease	by	the	lessee,	a	lease	to	a	new	customer,	or	purchase	of	the	residual	asset	by	the	lessee	or	another	party.		Huntington	also	purchases	insurance	guaranteeing	the	value	of	certain	residual	assets.Huntington	assesses	net	investments	in	leases	(including	residual	values)	for	impairment	and	recognizes	any	impairment	losses	in	accordance	with	the	impairment	guidance	for	financial	instruments.		As	such,	net	investments	in	leases	may	be	reduced	by	an	allowance	for	credit	losses,	with	changes	recognized	as	provision	expense.	2020	Form	10-K					127The	following	table	presents	net	investments	in	lease	financing	receivables	by	category	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Commercial	and	industrial:Lease	payments	receivable$	1,737	$	1,841	Estimated	residual	value	of	leased	assets	664		728	Gross	investment	in	commercial	and	industrial	lease	financing	receivables	2,401		2,569	Deferred	origination	costs	21		19	Deferred	fees	(200)		(249)	Total	net	investment	in	commercial	and	industrial	lease	financing	receivables$	2,222	$	2,339	The	carrying	value	of	residual	values	guaranteed	was	$93	million	as	of	December	31,	2020.		The	future	lease	rental	payments	due	from	customers	on	sales-type	and	direct	financing	leases	at	December	31,	2020,	totaled	$1.7	billion	and	were	due	as	follows:	$0.6	billion	in	2021,	$0.4	billion	in	2022,	$0.3	billion	in	2023,	$0.2	billion	in	2024,	$0.1	billion	in	2025,	and	$0.1	billion	thereafter.		Interest	income	recognized	for	these	types	of	leases	was	$106	million,	$108	million,	and	$100	million	for	the	years		2020,	2019,	and	2018	respectively.Nonaccrual	and	Past	Due	LoansThe	following	table	presents	NALs	by	loan	class	at	December	31,	2020	and	2019:	December	31,	2020December	31,	2019(dollar	amounts	in	millions)Nonaccrual	loans	with	no	ACLTotal	nonaccrual	loansNonaccrual	loans	with	no	ACLTotal	nonaccrual	loansCommercial	and	industrial$	69	$	353	$	109	$	323	Commercial	real	estate	8		15		2		10	Automobile	—		4		—		4	Home	equity	—		70		—		59	Residential	mortgage	—		88		—		71	RV	and	marine	—		2		—		1	Other	consumer	—		—		—		—	Total	nonaccrual	loans$	77	$	532	$	111	$	468	The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	NAL	loans	was	$33	million,	$26	million,	and	$22	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	interest	recorded	to	interest	income	for	NAL	loans	was	$6	million,	$9	million,	and	$12	million	in	2020,	2019,	and	2018,	respectively.The	following	table	presents	an	aging	analysis	of	loans	and	leases,	including	past	due	loans	and	leases,	by	loan	class	at	December	31,	2020	and	2019:December	31,	2020Past	Due	(1)(2)	Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	60	$	38	$	95	$	193	$	35,180	$	—	$	35,373	$	10	(3)Commercial	real	estate	—		1		11		12		7,187		—		7,199		—	Automobile	84		22		12		118		12,660		—		12,778		9	Home	equity	35		15		61		111		8,782		1		8,894		14	Residential	mortgage	114		38		194		346		11,702		93		12,141		132	(4)RV	and	marine	17		3		3		23		4,167		—		4,190		3	Other	consumer	9		4		3		16		1,017		—		1,033		3	Total	loans	and	leases$	319	$	121	$	379	$	819	$	80,695	$	94	$	81,608	$	171	128					Huntington	Bancshares	IncorporatedDecember	31,	2019Past	Due	(1)Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	65	$	31	$	69	$	165	$	30,499	$	—	$	30,664	$	11	(3)Commercial	real	estate	3		1		7		11		6,663		—		6,674		—	Automobile	95		19		11		125		12,672		—		12,797		8	Home	equity	50		19		51		120		8,972		1		9,093		14	Residential	mortgage	103		49		170		322		10,974		80		11,376		129	(4)RV	and	marine	13		4		2		19		3,544		—		3,563		2	Other	consumer	13		6		7		26		1,211		—		1,237		7	Total	loans	and	leases$	342	$	129	$	317	$	788	$	74,535	$	81	$	75,404	$	171	(1)NALs	are	included	in	this	aging	analysis	based	on	the	loan’s	past	due	status.(2)At	December	31,	2020,	the	principal	balance	of	loans	in	payment	deferral	programs	offered	in	response	to	the	COVID-19	pandemic	which	are	performing	according	to	their	modified	terms	are	generally	not	considered	delinquent.(3)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies.(4)Amounts	include	mortgage	loans	insured	by	U.S.	government	agencies.Credit	Quality	IndicatorsTo	facilitate	the	monitoring	of	credit	quality	for	commercial	loans,	and	for	the	purposes	of	determining	an	appropriate	ACL	level	for	these	loans,	Huntington	utilizes	the	following	internally	defined	categories	of	credit	grades:•Pass	-	Higher	quality	loans	that	do	not	fit	any	of	the	other	categories	described	below.•OLEM	-	The	credit	risk	may	be	relatively	minor	yet	represents	a	risk	given	certain	specific	circumstances.		If	the	potential	weaknesses	are	not	monitored	or	mitigated,	the	loan	may	weaken	or	the	collateral	may	be	inadequate	to	protect	Huntington’s	position	in	the	future.		For	these	reasons,	Huntington	considers	the	loans	to	be	potential	problem	loans.•Substandard	-	Inadequately	protected	loans	resulting	from	the	borrower’s	ability	to	repay,	equity,	and/or	the	collateral	pledged	to	secure	the	loan.		These	loans	have	identified	weaknesses	that	could	hinder	normal	repayment	or	collection	of	the	debt.		It	is	likely	Huntington	will	sustain	some	loss	if	any	identified	weaknesses	are	not	mitigated.•Doubtful	-	Loans	that	have	all	of	the	weaknesses	inherent	in	those	loans	classified	as	Substandard,	with	the	added	elements	of	the	full	collection	of	the	loan	is	improbable	and	that	the	possibility	of	loss	is	high.Loans	are	generally	assigned	a	category	of	“Pass”	rating	upon	initial	approval	and	subsequently	updated	as	appropriate	based	on	the	borrower’s	financial	performance.Commercial	loans	categorized	as	OLEM,	Substandard,	or	Doubtful	are	considered	Criticized	loans.		Commercial	loans	categorized	as	Substandard	or	Doubtful	are	both	considered	Classified	loans.For	all	classes	within	the	consumer	loan	portfolios,	loans	are	assigned	pool	level	PD	factors	based	on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		A	credit	bureau	score	is	a	credit	score	developed	by	FICO	based	on	data	provided	by	the	credit	bureaus.		The	credit	bureau	score	is	widely	accepted	as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	higher	the	credit	bureau	score,	the	higher	likelihood	of	repayment	and	therefore,	an	indicator	of	higher	credit	quality.Huntington	assesses	the	risk	in	the	loan	portfolio	by	utilizing	numerous	risk	characteristics.		The	classifications	described	above,	and	also	presented	in	the	table	below,	represent	one	of	those	characteristics	that	are	closely	monitored	in	the	overall	credit	risk	management	processes.2020	Form	10-K					129The	following	table	presents	net	investments	in	lease	financing	receivables	by	category	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Commercial	and	industrial:Lease	payments	receivable$	1,737	$	1,841	Estimated	residual	value	of	leased	assets	664		728	Gross	investment	in	commercial	and	industrial	lease	financing	receivables	2,401		2,569	Deferred	origination	costs	21		19	Deferred	fees	(200)		(249)	Total	net	investment	in	commercial	and	industrial	lease	financing	receivables$	2,222	$	2,339	The	carrying	value	of	residual	values	guaranteed	was	$93	million	as	of	December	31,	2020.		The	future	lease	rental	payments	due	from	customers	on	sales-type	and	direct	financing	leases	at	December	31,	2020,	totaled	$1.7	billion	and	were	due	as	follows:	$0.6	billion	in	2021,	$0.4	billion	in	2022,	$0.3	billion	in	2023,	$0.2	billion	in	2024,	$0.1	billion	in	2025,	and	$0.1	billion	thereafter.		Interest	income	recognized	for	these	types	of	leases	was	$106	million,	$108	million,	and	$100	million	for	the	years		2020,	2019,	and	2018	respectively.Nonaccrual	and	Past	Due	LoansThe	following	table	presents	NALs	by	loan	class	at	December	31,	2020	and	2019:	December	31,	2020December	31,	2019(dollar	amounts	in	millions)Nonaccrual	loans	with	no	ACLTotal	nonaccrual	loansNonaccrual	loans	with	no	ACLTotal	nonaccrual	loansCommercial	and	industrial$	69	$	353	$	109	$	323	Commercial	real	estate	8		15		2		10	Automobile	—		4		—		4	Home	equity	—		70		—		59	Residential	mortgage	—		88		—		71	RV	and	marine	—		2		—		1	Other	consumer	—		—		—		—	Total	nonaccrual	loans$	77	$	532	$	111	$	468	The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	NAL	loans	was	$33	million,	$26	million,	and	$22	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	interest	recorded	to	interest	income	for	NAL	loans	was	$6	million,	$9	million,	and	$12	million	in	2020,	2019,	and	2018,	respectively.The	following	table	presents	an	aging	analysis	of	loans	and	leases,	including	past	due	loans	and	leases,	by	loan	class	at	December	31,	2020	and	2019:December	31,	2020Past	Due	(1)(2)	Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	60	$	38	$	95	$	193	$	35,180	$	—	$	35,373	$	10	(3)Commercial	real	estate	—		1		11		12		7,187		—		7,199		—	Automobile	84		22		12		118		12,660		—		12,778		9	Home	equity	35		15		61		111		8,782		1		8,894		14	Residential	mortgage	114		38		194		346		11,702		93		12,141		132	(4)RV	and	marine	17		3		3		23		4,167		—		4,190		3	Other	consumer	9		4		3		16		1,017		—		1,033		3	Total	loans	and	leases$	319	$	121	$	379	$	819	$	80,695	$	94	$	81,608	$	171	128					Huntington	Bancshares	IncorporatedDecember	31,	2019Past	Due	(1)Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	65	$	31	$	69	$	165	$	30,499	$	—	$	30,664	$	11	(3)Commercial	real	estate	3		1		7		11		6,663		—		6,674		—	Automobile	95		19		11		125		12,672		—		12,797		8	Home	equity	50		19		51		120		8,972		1		9,093		14	Residential	mortgage	103		49		170		322		10,974		80		11,376		129	(4)RV	and	marine	13		4		2		19		3,544		—		3,563		2	Other	consumer	13		6		7		26		1,211		—		1,237		7	Total	loans	and	leases$	342	$	129	$	317	$	788	$	74,535	$	81	$	75,404	$	171	(1)NALs	are	included	in	this	aging	analysis	based	on	the	loan’s	past	due	status.(2)At	December	31,	2020,	the	principal	balance	of	loans	in	payment	deferral	programs	offered	in	response	to	the	COVID-19	pandemic	which	are	performing	according	to	their	modified	terms	are	generally	not	considered	delinquent.(3)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies.(4)Amounts	include	mortgage	loans	insured	by	U.S.	government	agencies.Credit	Quality	IndicatorsTo	facilitate	the	monitoring	of	credit	quality	for	commercial	loans,	and	for	the	purposes	of	determining	an	appropriate	ACL	level	for	these	loans,	Huntington	utilizes	the	following	internally	defined	categories	of	credit	grades:•Pass	-	Higher	quality	loans	that	do	not	fit	any	of	the	other	categories	described	below.•OLEM	-	The	credit	risk	may	be	relatively	minor	yet	represents	a	risk	given	certain	specific	circumstances.		If	the	potential	weaknesses	are	not	monitored	or	mitigated,	the	loan	may	weaken	or	the	collateral	may	be	inadequate	to	protect	Huntington’s	position	in	the	future.		For	these	reasons,	Huntington	considers	the	loans	to	be	potential	problem	loans.•Substandard	-	Inadequately	protected	loans	resulting	from	the	borrower’s	ability	to	repay,	equity,	and/or	the	collateral	pledged	to	secure	the	loan.		These	loans	have	identified	weaknesses	that	could	hinder	normal	repayment	or	collection	of	the	debt.		It	is	likely	Huntington	will	sustain	some	loss	if	any	identified	weaknesses	are	not	mitigated.•Doubtful	-	Loans	that	have	all	of	the	weaknesses	inherent	in	those	loans	classified	as	Substandard,	with	the	added	elements	of	the	full	collection	of	the	loan	is	improbable	and	that	the	possibility	of	loss	is	high.Loans	are	generally	assigned	a	category	of	“Pass”	rating	upon	initial	approval	and	subsequently	updated	as	appropriate	based	on	the	borrower’s	financial	performance.Commercial	loans	categorized	as	OLEM,	Substandard,	or	Doubtful	are	considered	Criticized	loans.		Commercial	loans	categorized	as	Substandard	or	Doubtful	are	both	considered	Classified	loans.For	all	classes	within	the	consumer	loan	portfolios,	loans	are	assigned	pool	level	PD	factors	based	on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		A	credit	bureau	score	is	a	credit	score	developed	by	FICO	based	on	data	provided	by	the	credit	bureaus.		The	credit	bureau	score	is	widely	accepted	as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	higher	the	credit	bureau	score,	the	higher	likelihood	of	repayment	and	therefore,	an	indicator	of	higher	credit	quality.Huntington	assesses	the	risk	in	the	loan	portfolio	by	utilizing	numerous	risk	characteristics.		The	classifications	described	above,	and	also	presented	in	the	table	below,	represent	one	of	those	characteristics	that	are	closely	monitored	in	the	overall	credit	risk	management	processes.2020	Form	10-K					129The	following	table	presents	net	investments	in	lease	financing	receivables	by	category	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Commercial	and	industrial:Lease	payments	receivable$	1,737	$	1,841	Estimated	residual	value	of	leased	assets	664		728	Gross	investment	in	commercial	and	industrial	lease	financing	receivables	2,401		2,569	Deferred	origination	costs	21		19	Deferred	fees	(200)		(249)	Total	net	investment	in	commercial	and	industrial	lease	financing	receivables$	2,222	$	2,339	The	carrying	value	of	residual	values	guaranteed	was	$93	million	as	of	December	31,	2020.		The	future	lease	rental	payments	due	from	customers	on	sales-type	and	direct	financing	leases	at	December	31,	2020,	totaled	$1.7	billion	and	were	due	as	follows:	$0.6	billion	in	2021,	$0.4	billion	in	2022,	$0.3	billion	in	2023,	$0.2	billion	in	2024,	$0.1	billion	in	2025,	and	$0.1	billion	thereafter.		Interest	income	recognized	for	these	types	of	leases	was	$106	million,	$108	million,	and	$100	million	for	the	years		2020,	2019,	and	2018	respectively.Nonaccrual	and	Past	Due	LoansThe	following	table	presents	NALs	by	loan	class	at	December	31,	2020	and	2019:	December	31,	2020December	31,	2019(dollar	amounts	in	millions)Nonaccrual	loans	with	no	ACLTotal	nonaccrual	loansNonaccrual	loans	with	no	ACLTotal	nonaccrual	loansCommercial	and	industrial$	69	$	353	$	109	$	323	Commercial	real	estate	8		15		2		10	Automobile	—		4		—		4	Home	equity	—		70		—		59	Residential	mortgage	—		88		—		71	RV	and	marine	—		2		—		1	Other	consumer	—		—		—		—	Total	nonaccrual	loans$	77	$	532	$	111	$	468	The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	NAL	loans	was	$33	million,	$26	million,	and	$22	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	interest	recorded	to	interest	income	for	NAL	loans	was	$6	million,	$9	million,	and	$12	million	in	2020,	2019,	and	2018,	respectively.The	following	table	presents	an	aging	analysis	of	loans	and	leases,	including	past	due	loans	and	leases,	by	loan	class	at	December	31,	2020	and	2019:December	31,	2020Past	Due	(1)(2)	Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	60	$	38	$	95	$	193	$	35,180	$	—	$	35,373	$	10	(3)Commercial	real	estate	—		1		11		12		7,187		—		7,199		—	Automobile	84		22		12		118		12,660		—		12,778		9	Home	equity	35		15		61		111		8,782		1		8,894		14	Residential	mortgage	114		38		194		346		11,702		93		12,141		132	(4)RV	and	marine	17		3		3		23		4,167		—		4,190		3	Other	consumer	9		4		3		16		1,017		—		1,033		3	Total	loans	and	leases$	319	$	121	$	379	$	819	$	80,695	$	94	$	81,608	$	171	128					Huntington	Bancshares	IncorporatedDecember	31,	2019Past	Due	(1)Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	65	$	31	$	69	$	165	$	30,499	$	—	$	30,664	$	11	(3)Commercial	real	estate	3		1		7		11		6,663		—		6,674		—	Automobile	95		19		11		125		12,672		—		12,797		8	Home	equity	50		19		51		120		8,972		1		9,093		14	Residential	mortgage	103		49		170		322		10,974		80		11,376		129	(4)RV	and	marine	13		4		2		19		3,544		—		3,563		2	Other	consumer	13		6		7		26		1,211		—		1,237		7	Total	loans	and	leases$	342	$	129	$	317	$	788	$	74,535	$	81	$	75,404	$	171	(1)NALs	are	included	in	this	aging	analysis	based	on	the	loan’s	past	due	status.(2)At	December	31,	2020,	the	principal	balance	of	loans	in	payment	deferral	programs	offered	in	response	to	the	COVID-19	pandemic	which	are	performing	according	to	their	modified	terms	are	generally	not	considered	delinquent.(3)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies.(4)Amounts	include	mortgage	loans	insured	by	U.S.	government	agencies.Credit	Quality	IndicatorsTo	facilitate	the	monitoring	of	credit	quality	for	commercial	loans,	and	for	the	purposes	of	determining	an	appropriate	ACL	level	for	these	loans,	Huntington	utilizes	the	following	internally	defined	categories	of	credit	grades:•Pass	-	Higher	quality	loans	that	do	not	fit	any	of	the	other	categories	described	below.•OLEM	-	The	credit	risk	may	be	relatively	minor	yet	represents	a	risk	given	certain	specific	circumstances.		If	the	potential	weaknesses	are	not	monitored	or	mitigated,	the	loan	may	weaken	or	the	collateral	may	be	inadequate	to	protect	Huntington’s	position	in	the	future.		For	these	reasons,	Huntington	considers	the	loans	to	be	potential	problem	loans.•Substandard	-	Inadequately	protected	loans	resulting	from	the	borrower’s	ability	to	repay,	equity,	and/or	the	collateral	pledged	to	secure	the	loan.		These	loans	have	identified	weaknesses	that	could	hinder	normal	repayment	or	collection	of	the	debt.		It	is	likely	Huntington	will	sustain	some	loss	if	any	identified	weaknesses	are	not	mitigated.•Doubtful	-	Loans	that	have	all	of	the	weaknesses	inherent	in	those	loans	classified	as	Substandard,	with	the	added	elements	of	the	full	collection	of	the	loan	is	improbable	and	that	the	possibility	of	loss	is	high.Loans	are	generally	assigned	a	category	of	“Pass”	rating	upon	initial	approval	and	subsequently	updated	as	appropriate	based	on	the	borrower’s	financial	performance.Commercial	loans	categorized	as	OLEM,	Substandard,	or	Doubtful	are	considered	Criticized	loans.		Commercial	loans	categorized	as	Substandard	or	Doubtful	are	both	considered	Classified	loans.For	all	classes	within	the	consumer	loan	portfolios,	loans	are	assigned	pool	level	PD	factors	based	on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		A	credit	bureau	score	is	a	credit	score	developed	by	FICO	based	on	data	provided	by	the	credit	bureaus.		The	credit	bureau	score	is	widely	accepted	as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	higher	the	credit	bureau	score,	the	higher	likelihood	of	repayment	and	therefore,	an	indicator	of	higher	credit	quality.Huntington	assesses	the	risk	in	the	loan	portfolio	by	utilizing	numerous	risk	characteristics.		The	classifications	described	above,	and	also	presented	in	the	table	below,	represent	one	of	those	characteristics	that	are	closely	monitored	in	the	overall	credit	risk	management	processes.2020	Form	10-K					129The	following	table	presents	net	investments	in	lease	financing	receivables	by	category	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Commercial	and	industrial:Lease	payments	receivable$	1,737	$	1,841	Estimated	residual	value	of	leased	assets	664		728	Gross	investment	in	commercial	and	industrial	lease	financing	receivables	2,401		2,569	Deferred	origination	costs	21		19	Deferred	fees	(200)		(249)	Total	net	investment	in	commercial	and	industrial	lease	financing	receivables$	2,222	$	2,339	The	carrying	value	of	residual	values	guaranteed	was	$93	million	as	of	December	31,	2020.		The	future	lease	rental	payments	due	from	customers	on	sales-type	and	direct	financing	leases	at	December	31,	2020,	totaled	$1.7	billion	and	were	due	as	follows:	$0.6	billion	in	2021,	$0.4	billion	in	2022,	$0.3	billion	in	2023,	$0.2	billion	in	2024,	$0.1	billion	in	2025,	and	$0.1	billion	thereafter.		Interest	income	recognized	for	these	types	of	leases	was	$106	million,	$108	million,	and	$100	million	for	the	years		2020,	2019,	and	2018	respectively.Nonaccrual	and	Past	Due	LoansThe	following	table	presents	NALs	by	loan	class	at	December	31,	2020	and	2019:	December	31,	2020December	31,	2019(dollar	amounts	in	millions)Nonaccrual	loans	with	no	ACLTotal	nonaccrual	loansNonaccrual	loans	with	no	ACLTotal	nonaccrual	loansCommercial	and	industrial$	69	$	353	$	109	$	323	Commercial	real	estate	8		15		2		10	Automobile	—		4		—		4	Home	equity	—		70		—		59	Residential	mortgage	—		88		—		71	RV	and	marine	—		2		—		1	Other	consumer	—		—		—		—	Total	nonaccrual	loans$	77	$	532	$	111	$	468	The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	NAL	loans	was	$33	million,	$26	million,	and	$22	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	interest	recorded	to	interest	income	for	NAL	loans	was	$6	million,	$9	million,	and	$12	million	in	2020,	2019,	and	2018,	respectively.The	following	table	presents	an	aging	analysis	of	loans	and	leases,	including	past	due	loans	and	leases,	by	loan	class	at	December	31,	2020	and	2019:December	31,	2020Past	Due	(1)(2)	Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	60	$	38	$	95	$	193	$	35,180	$	—	$	35,373	$	10	(3)Commercial	real	estate	—		1		11		12		7,187		—		7,199		—	Automobile	84		22		12		118		12,660		—		12,778		9	Home	equity	35		15		61		111		8,782		1		8,894		14	Residential	mortgage	114		38		194		346		11,702		93		12,141		132	(4)RV	and	marine	17		3		3		23		4,167		—		4,190		3	Other	consumer	9		4		3		16		1,017		—		1,033		3	Total	loans	and	leases$	319	$	121	$	379	$	819	$	80,695	$	94	$	81,608	$	171	128					Huntington	Bancshares	IncorporatedDecember	31,	2019Past	Due	(1)Loans	Accounted	for	Under	FVOTotal	Loansand	Leases90	ormore	dayspast	dueand	accruing(dollar	amounts	in	millions)30-59	Days60-89	Days90	or	more	daysTotalCurrentCommercial	and	industrial$	65	$	31	$	69	$	165	$	30,499	$	—	$	30,664	$	11	(3)Commercial	real	estate	3		1		7		11		6,663		—		6,674		—	Automobile	95		19		11		125		12,672		—		12,797		8	Home	equity	50		19		51		120		8,972		1		9,093		14	Residential	mortgage	103		49		170		322		10,974		80		11,376		129	(4)RV	and	marine	13		4		2		19		3,544		—		3,563		2	Other	consumer	13		6		7		26		1,211		—		1,237		7	Total	loans	and	leases$	342	$	129	$	317	$	788	$	74,535	$	81	$	75,404	$	171	(1)NALs	are	included	in	this	aging	analysis	based	on	the	loan’s	past	due	status.(2)At	December	31,	2020,	the	principal	balance	of	loans	in	payment	deferral	programs	offered	in	response	to	the	COVID-19	pandemic	which	are	performing	according	to	their	modified	terms	are	generally	not	considered	delinquent.(3)Amounts	include	Huntington	Technology	Finance	administrative	lease	delinquencies.(4)Amounts	include	mortgage	loans	insured	by	U.S.	government	agencies.Credit	Quality	IndicatorsTo	facilitate	the	monitoring	of	credit	quality	for	commercial	loans,	and	for	the	purposes	of	determining	an	appropriate	ACL	level	for	these	loans,	Huntington	utilizes	the	following	internally	defined	categories	of	credit	grades:•Pass	-	Higher	quality	loans	that	do	not	fit	any	of	the	other	categories	described	below.•OLEM	-	The	credit	risk	may	be	relatively	minor	yet	represents	a	risk	given	certain	specific	circumstances.		If	the	potential	weaknesses	are	not	monitored	or	mitigated,	the	loan	may	weaken	or	the	collateral	may	be	inadequate	to	protect	Huntington’s	position	in	the	future.		For	these	reasons,	Huntington	considers	the	loans	to	be	potential	problem	loans.•Substandard	-	Inadequately	protected	loans	resulting	from	the	borrower’s	ability	to	repay,	equity,	and/or	the	collateral	pledged	to	secure	the	loan.		These	loans	have	identified	weaknesses	that	could	hinder	normal	repayment	or	collection	of	the	debt.		It	is	likely	Huntington	will	sustain	some	loss	if	any	identified	weaknesses	are	not	mitigated.•Doubtful	-	Loans	that	have	all	of	the	weaknesses	inherent	in	those	loans	classified	as	Substandard,	with	the	added	elements	of	the	full	collection	of	the	loan	is	improbable	and	that	the	possibility	of	loss	is	high.Loans	are	generally	assigned	a	category	of	“Pass”	rating	upon	initial	approval	and	subsequently	updated	as	appropriate	based	on	the	borrower’s	financial	performance.Commercial	loans	categorized	as	OLEM,	Substandard,	or	Doubtful	are	considered	Criticized	loans.		Commercial	loans	categorized	as	Substandard	or	Doubtful	are	both	considered	Classified	loans.For	all	classes	within	the	consumer	loan	portfolios,	loans	are	assigned	pool	level	PD	factors	based	on	the	FICO	range	within	which	the	borrower’s	credit	bureau	score	falls.		A	credit	bureau	score	is	a	credit	score	developed	by	FICO	based	on	data	provided	by	the	credit	bureaus.		The	credit	bureau	score	is	widely	accepted	as	the	standard	measure	of	consumer	credit	risk	used	by	lenders,	regulators,	rating	agencies,	and	consumers.		The	higher	the	credit	bureau	score,	the	higher	likelihood	of	repayment	and	therefore,	an	indicator	of	higher	credit	quality.Huntington	assesses	the	risk	in	the	loan	portfolio	by	utilizing	numerous	risk	characteristics.		The	classifications	described	above,	and	also	presented	in	the	table	below,	represent	one	of	those	characteristics	that	are	closely	monitored	in	the	overall	credit	risk	management	processes.2020	Form	10-K					129The	following	table	presents	each	loan	and	lease	class	by	vintage	and	credit	quality	indicator	at	December	31,	2020:As	of	December	31,	2020Term	Loans	Amortized	Cost	Basis	by	Origination	YearRevolver	Total	at	Amortized	Cost	BasisRevolver	Total	Converted	to	Term	Loans(dollar	amounts	in	millions)20202019201820172016PriorTotal	(3)Commercial	and	industrialCredit	Quality	Indicator	(1):Pass$	13,757	$	4,525	$	2,758	$	1,347	$	974	$	916	$	8,894	$	2	$	33,173	OLEM	421		116		69		30		33		22		124		—		815	Substandard	196		144		188		224		46		159		423		—		1,380	Doubtful	2		—		1		—		—		1		1		—		5	Total	Commercial	and	industrial$	14,376	$	4,785	$	3,016	$	1,601	$	1,053	$	1,098	$	9,442	$	2	$	35,373	Commercial	real	estateCredit	Quality	Indicator	(1):Pass$	1,742	$	1,610	$	1,122	$	507	$	507	$	539	$	633	$	—	$	6,660	OLEM	94		78		63		37		28		14		4		—		318	Substandard	27		46		10		29		58		14		36		—		220	Doubtful	—		—		—		—		—		1		—		—		1	Total	Commercial	real	estate$	1,863	$	1,734	$	1,195	$	573	$	593	$	568	$	673	$	—	$	7,199	AutomobileCredit	Quality	Indicator	(2):750+$	2,670	$	2,013	$	1,144	$	742	$	317	$	81	$	—	$	—	$	6,967	650-749	1,965		1,343		755		386		175		52		—		—		4,676	<650	312		301		244		157		84		37		—		—		1,135	Total	Automobile$	4,947	$	3,657	$	2,143	$	1,285	$	576	$	170	$	—	$	—	$	12,778	Home	equityCredit	Quality	Indicator	(2):750+$	793	$	26	$	26	$	32	$	89	$	451	$	4,373	$	192	$	5,982	650-749	147		9		8		11		27		157		1,906		181		2,446	<650	1		1		1		1		6		70		286		99		465	Total	Home	equity$	941	$	36	$	35	$	44	$	122	$	678	$	6,565	$	472	$	8,893	Residential	mortgageCredit	Quality	Indicator	(2):750+$	3,269	$	1,370	$	891	$	1,064	$	762	$	1,243	$	1	$	—	$	8,600	650-749	991		435		307		278		171		495		—		—		2,677	<650	34		89		111		108		81		348		—		—		771	Total	Residential	mortgage$	4,294	$	1,894	$	1,309	$	1,450	$	1,014	$	2,086	$	1	$	—	$	12,048	RV	and	marine	Credit	Quality	Indicator	(2):750+$	1,136	$	525	$	589	$	337	$	153	$	254	$	—	$	—	$	2,994	650-749	348		215		201		136		64		129		—		—		1,093	<650	4		15		21		22		12		29		—		—		103	Total	RV	and	marine$	1,488	$	755	$	811	$	495	$	229	$	412	$	—	$	—	$	4,190	Other	consumerCredit	Quality	Indicator	(2):750+$	69	$	58	$	26	$	8	$	4	$	14	$	340	$	2	$	521	650-749	36		56		17		5		2		3		294		30		443	<650	2		8		3		1		—		1		26		28		69	Total	Other	consumer$	107	$	122	$	46	$	14	$	6	$	18	$	660	$	60	$	1,033	(1)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Commercial	portfolio	are	based	on	internally	defined	categories	of	credit	grades	which	are	generally	refreshed	at	least	semi-annually.(2)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Consumer	portfolio	are	based	on	updated	customer	credit	scores	refreshed	at	least	quarterly.(3)The	total	amount	of	accrued	interest	recorded	for	these	loans	at	December	31,	2020,	presented	in	other	assets	within	the	Consolidated	Balance	Sheets,	was	$146	million	and	$123	million	for	commercial	and	consumer,	respectively.130					Huntington	Bancshares	IncorporatedThe	following	tables	present	each	loan	and	lease	class	by	credit	quality	indicator	at	December	31,	2019:December	31,	2019Credit	Risk	Profile	by	UCS	Classification(dollar	amounts	in	millions)PassOLEMSubstandardDoubtfulTotalCommercial	and	industrial$	28,477	$	634	$	1,551	$	2	$	30,664	Commercial	real	estate	6,487		98		88		1		6,674	Credit	Risk	Profile	by	FICO	Score	(1),	(2)750+650-749<650TotalAutomobile$	6,759	$	4,661	$	1,377		12,797	Home	equity	5,763		2,772		557		9,092	Residential	mortgage	7,976		2,742		578		11,296	RV	and	marine	2,391		1,053		119		3,563	Other	consumer	546		571		120		1,237	(1)Excludes	loans	accounted	for	under	the	fair	value	option.(2)Reflects	updated	customer	credit	scores.TDR	Loans	On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	accruing	TDR	loans	was	$46	million,	$52	million,	and	$51	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	actual	interest	recorded	to	interest	income	for	these	loans	was	$43	million,	$49	million,	and	$48	million	for	2020,	2019,	and	2018,	respectively.TDR	Concession	TypesThe	Company’s	standards	relating	to	loan	modifications	consider,	among	other	factors,	minimum	verified	income	requirements,	cash	flow	analyses,	and	collateral	valuations.		Each	potential	loan	modification	is	reviewed	individually	and	the	terms	of	the	loan	are	modified	to	meet	a	borrower’s	specific	circumstances	at	a	point	in	time.		All	commercial	TDRs	are	reviewed	and	approved	by	our	FRG.Following	is	a	description	of	TDRs	by	the	different	loan	types:Commercial	loan	TDRs	–	Our	strategy	involving	commercial	TDR	borrowers	includes	working	with	these	borrowers	to	allow	them	to	refinance	elsewhere,	as	well	as	allow	them	time	to	improve	their	financial	position	and	remain	a	Huntington	customer	through	refinancing	their	notes	according	to	market	terms	and	conditions	in	the	future.		A	subsequent	refinancing	or	modification	of	a	loan	may	occur	when	either	the	loan	matures	according	to	the	terms	of	the	TDR-modified	agreement	or	the	borrower	requests	a	change	to	the	loan	agreements.		At	that	time,	the	loan	is	evaluated	to	determine	if	the	borrower	is	creditworthy.		It	is	subjected	to	the	normal	underwriting	standards	and	processes	for	other	similar	credit	extensions,	both	new	and	existing.		The	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		2020	Form	10-K					131The	following	table	presents	each	loan	and	lease	class	by	vintage	and	credit	quality	indicator	at	December	31,	2020:As	of	December	31,	2020Term	Loans	Amortized	Cost	Basis	by	Origination	YearRevolver	Total	at	Amortized	Cost	BasisRevolver	Total	Converted	to	Term	Loans(dollar	amounts	in	millions)20202019201820172016PriorTotal	(3)Commercial	and	industrialCredit	Quality	Indicator	(1):Pass$	13,757	$	4,525	$	2,758	$	1,347	$	974	$	916	$	8,894	$	2	$	33,173	OLEM	421		116		69		30		33		22		124		—		815	Substandard	196		144		188		224		46		159		423		—		1,380	Doubtful	2		—		1		—		—		1		1		—		5	Total	Commercial	and	industrial$	14,376	$	4,785	$	3,016	$	1,601	$	1,053	$	1,098	$	9,442	$	2	$	35,373	Commercial	real	estateCredit	Quality	Indicator	(1):Pass$	1,742	$	1,610	$	1,122	$	507	$	507	$	539	$	633	$	—	$	6,660	OLEM	94		78		63		37		28		14		4		—		318	Substandard	27		46		10		29		58		14		36		—		220	Doubtful	—		—		—		—		—		1		—		—		1	Total	Commercial	real	estate$	1,863	$	1,734	$	1,195	$	573	$	593	$	568	$	673	$	—	$	7,199	AutomobileCredit	Quality	Indicator	(2):750+$	2,670	$	2,013	$	1,144	$	742	$	317	$	81	$	—	$	—	$	6,967	650-749	1,965		1,343		755		386		175		52		—		—		4,676	<650	312		301		244		157		84		37		—		—		1,135	Total	Automobile$	4,947	$	3,657	$	2,143	$	1,285	$	576	$	170	$	—	$	—	$	12,778	Home	equityCredit	Quality	Indicator	(2):750+$	793	$	26	$	26	$	32	$	89	$	451	$	4,373	$	192	$	5,982	650-749	147		9		8		11		27		157		1,906		181		2,446	<650	1		1		1		1		6		70		286		99		465	Total	Home	equity$	941	$	36	$	35	$	44	$	122	$	678	$	6,565	$	472	$	8,893	Residential	mortgageCredit	Quality	Indicator	(2):750+$	3,269	$	1,370	$	891	$	1,064	$	762	$	1,243	$	1	$	—	$	8,600	650-749	991		435		307		278		171		495		—		—		2,677	<650	34		89		111		108		81		348		—		—		771	Total	Residential	mortgage$	4,294	$	1,894	$	1,309	$	1,450	$	1,014	$	2,086	$	1	$	—	$	12,048	RV	and	marine	Credit	Quality	Indicator	(2):750+$	1,136	$	525	$	589	$	337	$	153	$	254	$	—	$	—	$	2,994	650-749	348		215		201		136		64		129		—		—		1,093	<650	4		15		21		22		12		29		—		—		103	Total	RV	and	marine$	1,488	$	755	$	811	$	495	$	229	$	412	$	—	$	—	$	4,190	Other	consumerCredit	Quality	Indicator	(2):750+$	69	$	58	$	26	$	8	$	4	$	14	$	340	$	2	$	521	650-749	36		56		17		5		2		3		294		30		443	<650	2		8		3		1		—		1		26		28		69	Total	Other	consumer$	107	$	122	$	46	$	14	$	6	$	18	$	660	$	60	$	1,033	(1)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Commercial	portfolio	are	based	on	internally	defined	categories	of	credit	grades	which	are	generally	refreshed	at	least	semi-annually.(2)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Consumer	portfolio	are	based	on	updated	customer	credit	scores	refreshed	at	least	quarterly.(3)The	total	amount	of	accrued	interest	recorded	for	these	loans	at	December	31,	2020,	presented	in	other	assets	within	the	Consolidated	Balance	Sheets,	was	$146	million	and	$123	million	for	commercial	and	consumer,	respectively.130					Huntington	Bancshares	IncorporatedThe	following	tables	present	each	loan	and	lease	class	by	credit	quality	indicator	at	December	31,	2019:December	31,	2019Credit	Risk	Profile	by	UCS	Classification(dollar	amounts	in	millions)PassOLEMSubstandardDoubtfulTotalCommercial	and	industrial$	28,477	$	634	$	1,551	$	2	$	30,664	Commercial	real	estate	6,487		98		88		1		6,674	Credit	Risk	Profile	by	FICO	Score	(1),	(2)750+650-749<650TotalAutomobile$	6,759	$	4,661	$	1,377		12,797	Home	equity	5,763		2,772		557		9,092	Residential	mortgage	7,976		2,742		578		11,296	RV	and	marine	2,391		1,053		119		3,563	Other	consumer	546		571		120		1,237	(1)Excludes	loans	accounted	for	under	the	fair	value	option.(2)Reflects	updated	customer	credit	scores.TDR	Loans	On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	accruing	TDR	loans	was	$46	million,	$52	million,	and	$51	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	actual	interest	recorded	to	interest	income	for	these	loans	was	$43	million,	$49	million,	and	$48	million	for	2020,	2019,	and	2018,	respectively.TDR	Concession	TypesThe	Company’s	standards	relating	to	loan	modifications	consider,	among	other	factors,	minimum	verified	income	requirements,	cash	flow	analyses,	and	collateral	valuations.		Each	potential	loan	modification	is	reviewed	individually	and	the	terms	of	the	loan	are	modified	to	meet	a	borrower’s	specific	circumstances	at	a	point	in	time.		All	commercial	TDRs	are	reviewed	and	approved	by	our	FRG.Following	is	a	description	of	TDRs	by	the	different	loan	types:Commercial	loan	TDRs	–	Our	strategy	involving	commercial	TDR	borrowers	includes	working	with	these	borrowers	to	allow	them	to	refinance	elsewhere,	as	well	as	allow	them	time	to	improve	their	financial	position	and	remain	a	Huntington	customer	through	refinancing	their	notes	according	to	market	terms	and	conditions	in	the	future.		A	subsequent	refinancing	or	modification	of	a	loan	may	occur	when	either	the	loan	matures	according	to	the	terms	of	the	TDR-modified	agreement	or	the	borrower	requests	a	change	to	the	loan	agreements.		At	that	time,	the	loan	is	evaluated	to	determine	if	the	borrower	is	creditworthy.		It	is	subjected	to	the	normal	underwriting	standards	and	processes	for	other	similar	credit	extensions,	both	new	and	existing.		The	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		2020	Form	10-K					131The	following	table	presents	each	loan	and	lease	class	by	vintage	and	credit	quality	indicator	at	December	31,	2020:As	of	December	31,	2020Term	Loans	Amortized	Cost	Basis	by	Origination	YearRevolver	Total	at	Amortized	Cost	BasisRevolver	Total	Converted	to	Term	Loans(dollar	amounts	in	millions)20202019201820172016PriorTotal	(3)Commercial	and	industrialCredit	Quality	Indicator	(1):Pass$	13,757	$	4,525	$	2,758	$	1,347	$	974	$	916	$	8,894	$	2	$	33,173	OLEM	421		116		69		30		33		22		124		—		815	Substandard	196		144		188		224		46		159		423		—		1,380	Doubtful	2		—		1		—		—		1		1		—		5	Total	Commercial	and	industrial$	14,376	$	4,785	$	3,016	$	1,601	$	1,053	$	1,098	$	9,442	$	2	$	35,373	Commercial	real	estateCredit	Quality	Indicator	(1):Pass$	1,742	$	1,610	$	1,122	$	507	$	507	$	539	$	633	$	—	$	6,660	OLEM	94		78		63		37		28		14		4		—		318	Substandard	27		46		10		29		58		14		36		—		220	Doubtful	—		—		—		—		—		1		—		—		1	Total	Commercial	real	estate$	1,863	$	1,734	$	1,195	$	573	$	593	$	568	$	673	$	—	$	7,199	AutomobileCredit	Quality	Indicator	(2):750+$	2,670	$	2,013	$	1,144	$	742	$	317	$	81	$	—	$	—	$	6,967	650-749	1,965		1,343		755		386		175		52		—		—		4,676	<650	312		301		244		157		84		37		—		—		1,135	Total	Automobile$	4,947	$	3,657	$	2,143	$	1,285	$	576	$	170	$	—	$	—	$	12,778	Home	equityCredit	Quality	Indicator	(2):750+$	793	$	26	$	26	$	32	$	89	$	451	$	4,373	$	192	$	5,982	650-749	147		9		8		11		27		157		1,906		181		2,446	<650	1		1		1		1		6		70		286		99		465	Total	Home	equity$	941	$	36	$	35	$	44	$	122	$	678	$	6,565	$	472	$	8,893	Residential	mortgageCredit	Quality	Indicator	(2):750+$	3,269	$	1,370	$	891	$	1,064	$	762	$	1,243	$	1	$	—	$	8,600	650-749	991		435		307		278		171		495		—		—		2,677	<650	34		89		111		108		81		348		—		—		771	Total	Residential	mortgage$	4,294	$	1,894	$	1,309	$	1,450	$	1,014	$	2,086	$	1	$	—	$	12,048	RV	and	marine	Credit	Quality	Indicator	(2):750+$	1,136	$	525	$	589	$	337	$	153	$	254	$	—	$	—	$	2,994	650-749	348		215		201		136		64		129		—		—		1,093	<650	4		15		21		22		12		29		—		—		103	Total	RV	and	marine$	1,488	$	755	$	811	$	495	$	229	$	412	$	—	$	—	$	4,190	Other	consumerCredit	Quality	Indicator	(2):750+$	69	$	58	$	26	$	8	$	4	$	14	$	340	$	2	$	521	650-749	36		56		17		5		2		3		294		30		443	<650	2		8		3		1		—		1		26		28		69	Total	Other	consumer$	107	$	122	$	46	$	14	$	6	$	18	$	660	$	60	$	1,033	(1)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Commercial	portfolio	are	based	on	internally	defined	categories	of	credit	grades	which	are	generally	refreshed	at	least	semi-annually.(2)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Consumer	portfolio	are	based	on	updated	customer	credit	scores	refreshed	at	least	quarterly.(3)The	total	amount	of	accrued	interest	recorded	for	these	loans	at	December	31,	2020,	presented	in	other	assets	within	the	Consolidated	Balance	Sheets,	was	$146	million	and	$123	million	for	commercial	and	consumer,	respectively.130					Huntington	Bancshares	IncorporatedThe	following	tables	present	each	loan	and	lease	class	by	credit	quality	indicator	at	December	31,	2019:December	31,	2019Credit	Risk	Profile	by	UCS	Classification(dollar	amounts	in	millions)PassOLEMSubstandardDoubtfulTotalCommercial	and	industrial$	28,477	$	634	$	1,551	$	2	$	30,664	Commercial	real	estate	6,487		98		88		1		6,674	Credit	Risk	Profile	by	FICO	Score	(1),	(2)750+650-749<650TotalAutomobile$	6,759	$	4,661	$	1,377		12,797	Home	equity	5,763		2,772		557		9,092	Residential	mortgage	7,976		2,742		578		11,296	RV	and	marine	2,391		1,053		119		3,563	Other	consumer	546		571		120		1,237	(1)Excludes	loans	accounted	for	under	the	fair	value	option.(2)Reflects	updated	customer	credit	scores.TDR	Loans	On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	accruing	TDR	loans	was	$46	million,	$52	million,	and	$51	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	actual	interest	recorded	to	interest	income	for	these	loans	was	$43	million,	$49	million,	and	$48	million	for	2020,	2019,	and	2018,	respectively.TDR	Concession	TypesThe	Company’s	standards	relating	to	loan	modifications	consider,	among	other	factors,	minimum	verified	income	requirements,	cash	flow	analyses,	and	collateral	valuations.		Each	potential	loan	modification	is	reviewed	individually	and	the	terms	of	the	loan	are	modified	to	meet	a	borrower’s	specific	circumstances	at	a	point	in	time.		All	commercial	TDRs	are	reviewed	and	approved	by	our	FRG.Following	is	a	description	of	TDRs	by	the	different	loan	types:Commercial	loan	TDRs	–	Our	strategy	involving	commercial	TDR	borrowers	includes	working	with	these	borrowers	to	allow	them	to	refinance	elsewhere,	as	well	as	allow	them	time	to	improve	their	financial	position	and	remain	a	Huntington	customer	through	refinancing	their	notes	according	to	market	terms	and	conditions	in	the	future.		A	subsequent	refinancing	or	modification	of	a	loan	may	occur	when	either	the	loan	matures	according	to	the	terms	of	the	TDR-modified	agreement	or	the	borrower	requests	a	change	to	the	loan	agreements.		At	that	time,	the	loan	is	evaluated	to	determine	if	the	borrower	is	creditworthy.		It	is	subjected	to	the	normal	underwriting	standards	and	processes	for	other	similar	credit	extensions,	both	new	and	existing.		The	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		2020	Form	10-K					131The	following	table	presents	each	loan	and	lease	class	by	vintage	and	credit	quality	indicator	at	December	31,	2020:As	of	December	31,	2020Term	Loans	Amortized	Cost	Basis	by	Origination	YearRevolver	Total	at	Amortized	Cost	BasisRevolver	Total	Converted	to	Term	Loans(dollar	amounts	in	millions)20202019201820172016PriorTotal	(3)Commercial	and	industrialCredit	Quality	Indicator	(1):Pass$	13,757	$	4,525	$	2,758	$	1,347	$	974	$	916	$	8,894	$	2	$	33,173	OLEM	421		116		69		30		33		22		124		—		815	Substandard	196		144		188		224		46		159		423		—		1,380	Doubtful	2		—		1		—		—		1		1		—		5	Total	Commercial	and	industrial$	14,376	$	4,785	$	3,016	$	1,601	$	1,053	$	1,098	$	9,442	$	2	$	35,373	Commercial	real	estateCredit	Quality	Indicator	(1):Pass$	1,742	$	1,610	$	1,122	$	507	$	507	$	539	$	633	$	—	$	6,660	OLEM	94		78		63		37		28		14		4		—		318	Substandard	27		46		10		29		58		14		36		—		220	Doubtful	—		—		—		—		—		1		—		—		1	Total	Commercial	real	estate$	1,863	$	1,734	$	1,195	$	573	$	593	$	568	$	673	$	—	$	7,199	AutomobileCredit	Quality	Indicator	(2):750+$	2,670	$	2,013	$	1,144	$	742	$	317	$	81	$	—	$	—	$	6,967	650-749	1,965		1,343		755		386		175		52		—		—		4,676	<650	312		301		244		157		84		37		—		—		1,135	Total	Automobile$	4,947	$	3,657	$	2,143	$	1,285	$	576	$	170	$	—	$	—	$	12,778	Home	equityCredit	Quality	Indicator	(2):750+$	793	$	26	$	26	$	32	$	89	$	451	$	4,373	$	192	$	5,982	650-749	147		9		8		11		27		157		1,906		181		2,446	<650	1		1		1		1		6		70		286		99		465	Total	Home	equity$	941	$	36	$	35	$	44	$	122	$	678	$	6,565	$	472	$	8,893	Residential	mortgageCredit	Quality	Indicator	(2):750+$	3,269	$	1,370	$	891	$	1,064	$	762	$	1,243	$	1	$	—	$	8,600	650-749	991		435		307		278		171		495		—		—		2,677	<650	34		89		111		108		81		348		—		—		771	Total	Residential	mortgage$	4,294	$	1,894	$	1,309	$	1,450	$	1,014	$	2,086	$	1	$	—	$	12,048	RV	and	marine	Credit	Quality	Indicator	(2):750+$	1,136	$	525	$	589	$	337	$	153	$	254	$	—	$	—	$	2,994	650-749	348		215		201		136		64		129		—		—		1,093	<650	4		15		21		22		12		29		—		—		103	Total	RV	and	marine$	1,488	$	755	$	811	$	495	$	229	$	412	$	—	$	—	$	4,190	Other	consumerCredit	Quality	Indicator	(2):750+$	69	$	58	$	26	$	8	$	4	$	14	$	340	$	2	$	521	650-749	36		56		17		5		2		3		294		30		443	<650	2		8		3		1		—		1		26		28		69	Total	Other	consumer$	107	$	122	$	46	$	14	$	6	$	18	$	660	$	60	$	1,033	(1)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Commercial	portfolio	are	based	on	internally	defined	categories	of	credit	grades	which	are	generally	refreshed	at	least	semi-annually.(2)Consistent	with	the	credit	quality	disclosures,	indicators	for	the	Consumer	portfolio	are	based	on	updated	customer	credit	scores	refreshed	at	least	quarterly.(3)The	total	amount	of	accrued	interest	recorded	for	these	loans	at	December	31,	2020,	presented	in	other	assets	within	the	Consolidated	Balance	Sheets,	was	$146	million	and	$123	million	for	commercial	and	consumer,	respectively.130					Huntington	Bancshares	IncorporatedThe	following	tables	present	each	loan	and	lease	class	by	credit	quality	indicator	at	December	31,	2019:December	31,	2019Credit	Risk	Profile	by	UCS	Classification(dollar	amounts	in	millions)PassOLEMSubstandardDoubtfulTotalCommercial	and	industrial$	28,477	$	634	$	1,551	$	2	$	30,664	Commercial	real	estate	6,487		98		88		1		6,674	Credit	Risk	Profile	by	FICO	Score	(1),	(2)750+650-749<650TotalAutomobile$	6,759	$	4,661	$	1,377		12,797	Home	equity	5,763		2,772		557		9,092	Residential	mortgage	7,976		2,742		578		11,296	RV	and	marine	2,391		1,053		119		3,563	Other	consumer	546		571		120		1,237	(1)Excludes	loans	accounted	for	under	the	fair	value	option.(2)Reflects	updated	customer	credit	scores.TDR	Loans	On	March	22,	2020	and	April	7,	2020,	the	federal	bank	regulatory	agencies	including	the	FRB	and	OCC	released	statements	encouraging	financial	institutions	to	work	prudently	with	borrowers	that	may	be	unable	to	meet	their	contractual	obligations	because	of	the	effects	of	COVID-19.		The	statements	go	on	to	explain	that,	in	consultation	with	the	FASB	staff,	the	federal	bank	regulatory	agencies	concluded	that	short-term	modifications	(e.g.	six	months)	made	on	a	good	faith	basis	to	borrowers	who	were	current	as	of	the	implementation	date	of	a	relief	program	are	not	TDRs.		Section	4013	of	the	CARES	Act,	as	amended	by	Section	541	of	the	Consolidated	Appropriations	Act	of	2021,	(“CARES	Act”)	further	addresses	COVID-19	related	modifications	occurring	between	March	1,	2020	through	January	1,	2022	and	specifies	that	such	COVID-19	related	modifications	on	loans	that	were	current	as	of	December	31,	2019	are	not	TDRs.For	COVID-19	related	loan	modifications	occurring	during	2020,	which	met	the	loan	modification	criteria	under	the	CARES	Act,	Huntington	elected	to	suspend	TDR	accounting.		For	loan	modifications	not	eligible	for	the	CARES	Act,	Huntington	applied	the	interagency	regulatory	guidance	that	was	clarified	on	April	7,	2020.		Accordingly,	insignificant	concessions	(related	to	the	current	COVID-19	crisis)	granted	through	payment	deferrals,	fee	waivers,	or	other	short-term	modifications	(generally	6	months	or	less)	and	provided	to	borrowers	less	than	30	days	past	due	at	March	17,	2020	were	not	deemed	to	be	TDRs.		Therefore,	modified	loans	that	met	the	required	guidelines	for	relief	are	excluded	from	the	TDR	disclosures	below.The	amount	of	interest	that	would	have	been	recorded	under	the	original	terms	for	total	accruing	TDR	loans	was	$46	million,	$52	million,	and	$51	million	for	2020,	2019,	and	2018,	respectively.		The	total	amount	of	actual	interest	recorded	to	interest	income	for	these	loans	was	$43	million,	$49	million,	and	$48	million	for	2020,	2019,	and	2018,	respectively.TDR	Concession	TypesThe	Company’s	standards	relating	to	loan	modifications	consider,	among	other	factors,	minimum	verified	income	requirements,	cash	flow	analyses,	and	collateral	valuations.		Each	potential	loan	modification	is	reviewed	individually	and	the	terms	of	the	loan	are	modified	to	meet	a	borrower’s	specific	circumstances	at	a	point	in	time.		All	commercial	TDRs	are	reviewed	and	approved	by	our	FRG.Following	is	a	description	of	TDRs	by	the	different	loan	types:Commercial	loan	TDRs	–	Our	strategy	involving	commercial	TDR	borrowers	includes	working	with	these	borrowers	to	allow	them	to	refinance	elsewhere,	as	well	as	allow	them	time	to	improve	their	financial	position	and	remain	a	Huntington	customer	through	refinancing	their	notes	according	to	market	terms	and	conditions	in	the	future.		A	subsequent	refinancing	or	modification	of	a	loan	may	occur	when	either	the	loan	matures	according	to	the	terms	of	the	TDR-modified	agreement	or	the	borrower	requests	a	change	to	the	loan	agreements.		At	that	time,	the	loan	is	evaluated	to	determine	if	the	borrower	is	creditworthy.		It	is	subjected	to	the	normal	underwriting	standards	and	processes	for	other	similar	credit	extensions,	both	new	and	existing.		The	refinanced	note	is	evaluated	to	determine	if	it	is	considered	a	new	loan	or	a	continuation	of	the	prior	loan.		2020	Form	10-K					131Consumer	loan	TDRs	–	Residential	mortgage	TDRs	represent	loan	modifications	associated	with	traditional	first-lien	mortgage	loans	in	which	a	concession	has	been	provided	to	the	borrower.		The	primary	concessions	given	to	residential	mortgage	borrowers	are	amortization	or	maturity	date	changes	and	interest	rate	reductions.		Residential	mortgages	identified	as	TDRs	involve	borrowers	unable	to	refinance	their	mortgages	through	the	Company’s	normal	mortgage	origination	channels	or	through	other	independent	sources.		Some,	but	not	all,	of	the	loans	may	be	delinquent.		The	Company	may	make	similar	interest	rate,	term,	and	principal	concessions	for	Automobile,	Home	Equity,	RV	and	Marine	and	Other	Consumer	loan	TDRs.TDR	Impact	on	Credit	QualityHuntington’s	ALLL	is	largely	determined	by	risk	ratings	assigned	to	commercial	loans,	updated	borrower	credit	scores	on	consumer	loans,	and	borrower	delinquency	history	in	both	the	commercial	and	consumer	portfolios.		These	risk	ratings	and	credit	scores	consider	the	default	history	of	the	borrower,	including	payment	redefaults.		As	such,	the	provision	for	credit	losses	is	impacted	primarily	by	changes	in	borrower	payment	performance	rather	than	the	TDR	classification.		TDRs	can	be	classified	as	either	accrual	or	nonaccrual	loans.		Nonaccrual	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.The	Company’s	TDRs	may	include	multiple	concessions	and	the	disclosure	classifications	are	presented	based	on	the	primary	concession	provided	to	the	borrower.		The	majority	of	the	concessions	for	the	C&I	and	CRE	portfolios	are	the	extension	of	the	maturity	date,	but	could	also	include	an	interest	rate	concession.		In	these	instances,	the	primary	concession	is	the	maturity	date	extension.The	following	table	presents,	by	class	and	modification	type,	the	number	of	contracts,	post-modification	outstanding	balance,	and	the	financial	effects	of	the	modification	for	the	years	ended	December	31,	2020	and	2019.New	Troubled	Debt	Restructurings	(1)Year	Ended	December	31,	2020Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	317	$	—	$	123	$	—	$	58	$	181	Commercial	real	estate	13		—		3		—		—		3	Automobile	3,018		—		29		6		—		35	Home	equity	273		—		6		8		2		16	Residential	mortgage	585		—		79		7		—		86	RV	and	marine	168		—		4		1		—		5	Other	consumer	622		3		—		—		1		4	Total	new	TDRs	4,996	$	3	$	244	$	22	$	61	$	330	Year	Ended	December	31,	2019Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	482	$	—	$	172	$	—	$	7	$	179	Commercial	real	estate	29		—		13		—		—		13	Automobile	2,971		—		19		7		—		26	Home	equity	306		—		9		8		—		17	Residential	mortgage	330		—		35		2		—		37	RV	and	marine	139		—		1		2		—		3	Other	consumer	972		8		—		—		—		8	Total	new	TDRs	5,229	$	8	$	249	$	19	$	7	$	283	(1)TDRs	may	include	multiple	concessions.		The	disclosure	classification	is	based	on	the	primary	concession	provided	to	the	borrower.(2)Post-modification	balances	approximate	pre-modification	balances.		The	aggregate	amount	of	charge-offs	as	a	result	of	a	restructuring	are	not	significant.132					Huntington	Bancshares	IncorporatedThe	financial	effects	of	modification	represent	the	impact	on	the	provision	(recovery)	for	loan	and	lease	losses.		Amounts	for	the	years	ended	December	31,	2020	and	December	31,	2019	were	$6	million	and	$(2)	million,	respectively.Pledged	LoansThe	Bank	has	access	to	the	Federal	Reserve’s	discount	window	and	advances	from	the	FHLB.		As	of	December	31,	2020	and	2019,	these	borrowings	and	advances	are	secured	by	$43.0	billion	and	$39.6	billion,	respectively,	of	loans.6.	ALLOWANCE	FOR	CREDIT	LOSSES	On	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments,	which	replaced	the	incurred	loss	methodology	with	an	expected	loss	methodology	that	is	referred	to	as	the	current	expected	credit	loss	(“CECL”)	methodology.		The	measurement	of	expected	credit	losses	under	CECL	is	applicable	to	financial	assets	measured	at	amortized	cost,	including	loan	receivables	and	held-to-maturity	debt	securities.		It	also	applies	to	off-balance	sheet	exposures	not	accounted	for	as	insurance	and	net	investments	in	leases	accounted	for	under	ASC	Topic	842.		Additionally,	ASC	Topic	326	made	changes	to	the	accounting	for	AFS	debt	securities,	including	a	requirement	to	present	credit	losses	as	an	allowance	rather	than	as	a	write-down	on	AFS	debt	securities	that	management	does	not	intend	to	sell,	or	believes	will	not	be	required	to	sell.	Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	adoption	is	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.2020	Form	10-K					133Consumer	loan	TDRs	–	Residential	mortgage	TDRs	represent	loan	modifications	associated	with	traditional	first-lien	mortgage	loans	in	which	a	concession	has	been	provided	to	the	borrower.		The	primary	concessions	given	to	residential	mortgage	borrowers	are	amortization	or	maturity	date	changes	and	interest	rate	reductions.		Residential	mortgages	identified	as	TDRs	involve	borrowers	unable	to	refinance	their	mortgages	through	the	Company’s	normal	mortgage	origination	channels	or	through	other	independent	sources.		Some,	but	not	all,	of	the	loans	may	be	delinquent.		The	Company	may	make	similar	interest	rate,	term,	and	principal	concessions	for	Automobile,	Home	Equity,	RV	and	Marine	and	Other	Consumer	loan	TDRs.TDR	Impact	on	Credit	QualityHuntington’s	ALLL	is	largely	determined	by	risk	ratings	assigned	to	commercial	loans,	updated	borrower	credit	scores	on	consumer	loans,	and	borrower	delinquency	history	in	both	the	commercial	and	consumer	portfolios.		These	risk	ratings	and	credit	scores	consider	the	default	history	of	the	borrower,	including	payment	redefaults.		As	such,	the	provision	for	credit	losses	is	impacted	primarily	by	changes	in	borrower	payment	performance	rather	than	the	TDR	classification.		TDRs	can	be	classified	as	either	accrual	or	nonaccrual	loans.		Nonaccrual	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.The	Company’s	TDRs	may	include	multiple	concessions	and	the	disclosure	classifications	are	presented	based	on	the	primary	concession	provided	to	the	borrower.		The	majority	of	the	concessions	for	the	C&I	and	CRE	portfolios	are	the	extension	of	the	maturity	date,	but	could	also	include	an	interest	rate	concession.		In	these	instances,	the	primary	concession	is	the	maturity	date	extension.The	following	table	presents,	by	class	and	modification	type,	the	number	of	contracts,	post-modification	outstanding	balance,	and	the	financial	effects	of	the	modification	for	the	years	ended	December	31,	2020	and	2019.New	Troubled	Debt	Restructurings	(1)Year	Ended	December	31,	2020Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	317	$	—	$	123	$	—	$	58	$	181	Commercial	real	estate	13		—		3		—		—		3	Automobile	3,018		—		29		6		—		35	Home	equity	273		—		6		8		2		16	Residential	mortgage	585		—		79		7		—		86	RV	and	marine	168		—		4		1		—		5	Other	consumer	622		3		—		—		1		4	Total	new	TDRs	4,996	$	3	$	244	$	22	$	61	$	330	Year	Ended	December	31,	2019Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	482	$	—	$	172	$	—	$	7	$	179	Commercial	real	estate	29		—		13		—		—		13	Automobile	2,971		—		19		7		—		26	Home	equity	306		—		9		8		—		17	Residential	mortgage	330		—		35		2		—		37	RV	and	marine	139		—		1		2		—		3	Other	consumer	972		8		—		—		—		8	Total	new	TDRs	5,229	$	8	$	249	$	19	$	7	$	283	(1)TDRs	may	include	multiple	concessions.		The	disclosure	classification	is	based	on	the	primary	concession	provided	to	the	borrower.(2)Post-modification	balances	approximate	pre-modification	balances.		The	aggregate	amount	of	charge-offs	as	a	result	of	a	restructuring	are	not	significant.132					Huntington	Bancshares	IncorporatedThe	financial	effects	of	modification	represent	the	impact	on	the	provision	(recovery)	for	loan	and	lease	losses.		Amounts	for	the	years	ended	December	31,	2020	and	December	31,	2019	were	$6	million	and	$(2)	million,	respectively.Pledged	LoansThe	Bank	has	access	to	the	Federal	Reserve’s	discount	window	and	advances	from	the	FHLB.		As	of	December	31,	2020	and	2019,	these	borrowings	and	advances	are	secured	by	$43.0	billion	and	$39.6	billion,	respectively,	of	loans.6.	ALLOWANCE	FOR	CREDIT	LOSSES	On	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments,	which	replaced	the	incurred	loss	methodology	with	an	expected	loss	methodology	that	is	referred	to	as	the	current	expected	credit	loss	(“CECL”)	methodology.		The	measurement	of	expected	credit	losses	under	CECL	is	applicable	to	financial	assets	measured	at	amortized	cost,	including	loan	receivables	and	held-to-maturity	debt	securities.		It	also	applies	to	off-balance	sheet	exposures	not	accounted	for	as	insurance	and	net	investments	in	leases	accounted	for	under	ASC	Topic	842.		Additionally,	ASC	Topic	326	made	changes	to	the	accounting	for	AFS	debt	securities,	including	a	requirement	to	present	credit	losses	as	an	allowance	rather	than	as	a	write-down	on	AFS	debt	securities	that	management	does	not	intend	to	sell,	or	believes	will	not	be	required	to	sell.	Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	adoption	is	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.2020	Form	10-K					133Consumer	loan	TDRs	–	Residential	mortgage	TDRs	represent	loan	modifications	associated	with	traditional	first-lien	mortgage	loans	in	which	a	concession	has	been	provided	to	the	borrower.		The	primary	concessions	given	to	residential	mortgage	borrowers	are	amortization	or	maturity	date	changes	and	interest	rate	reductions.		Residential	mortgages	identified	as	TDRs	involve	borrowers	unable	to	refinance	their	mortgages	through	the	Company’s	normal	mortgage	origination	channels	or	through	other	independent	sources.		Some,	but	not	all,	of	the	loans	may	be	delinquent.		The	Company	may	make	similar	interest	rate,	term,	and	principal	concessions	for	Automobile,	Home	Equity,	RV	and	Marine	and	Other	Consumer	loan	TDRs.TDR	Impact	on	Credit	QualityHuntington’s	ALLL	is	largely	determined	by	risk	ratings	assigned	to	commercial	loans,	updated	borrower	credit	scores	on	consumer	loans,	and	borrower	delinquency	history	in	both	the	commercial	and	consumer	portfolios.		These	risk	ratings	and	credit	scores	consider	the	default	history	of	the	borrower,	including	payment	redefaults.		As	such,	the	provision	for	credit	losses	is	impacted	primarily	by	changes	in	borrower	payment	performance	rather	than	the	TDR	classification.		TDRs	can	be	classified	as	either	accrual	or	nonaccrual	loans.		Nonaccrual	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.The	Company’s	TDRs	may	include	multiple	concessions	and	the	disclosure	classifications	are	presented	based	on	the	primary	concession	provided	to	the	borrower.		The	majority	of	the	concessions	for	the	C&I	and	CRE	portfolios	are	the	extension	of	the	maturity	date,	but	could	also	include	an	interest	rate	concession.		In	these	instances,	the	primary	concession	is	the	maturity	date	extension.The	following	table	presents,	by	class	and	modification	type,	the	number	of	contracts,	post-modification	outstanding	balance,	and	the	financial	effects	of	the	modification	for	the	years	ended	December	31,	2020	and	2019.New	Troubled	Debt	Restructurings	(1)Year	Ended	December	31,	2020Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	317	$	—	$	123	$	—	$	58	$	181	Commercial	real	estate	13		—		3		—		—		3	Automobile	3,018		—		29		6		—		35	Home	equity	273		—		6		8		2		16	Residential	mortgage	585		—		79		7		—		86	RV	and	marine	168		—		4		1		—		5	Other	consumer	622		3		—		—		1		4	Total	new	TDRs	4,996	$	3	$	244	$	22	$	61	$	330	Year	Ended	December	31,	2019Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	482	$	—	$	172	$	—	$	7	$	179	Commercial	real	estate	29		—		13		—		—		13	Automobile	2,971		—		19		7		—		26	Home	equity	306		—		9		8		—		17	Residential	mortgage	330		—		35		2		—		37	RV	and	marine	139		—		1		2		—		3	Other	consumer	972		8		—		—		—		8	Total	new	TDRs	5,229	$	8	$	249	$	19	$	7	$	283	(1)TDRs	may	include	multiple	concessions.		The	disclosure	classification	is	based	on	the	primary	concession	provided	to	the	borrower.(2)Post-modification	balances	approximate	pre-modification	balances.		The	aggregate	amount	of	charge-offs	as	a	result	of	a	restructuring	are	not	significant.132					Huntington	Bancshares	IncorporatedThe	financial	effects	of	modification	represent	the	impact	on	the	provision	(recovery)	for	loan	and	lease	losses.		Amounts	for	the	years	ended	December	31,	2020	and	December	31,	2019	were	$6	million	and	$(2)	million,	respectively.Pledged	LoansThe	Bank	has	access	to	the	Federal	Reserve’s	discount	window	and	advances	from	the	FHLB.		As	of	December	31,	2020	and	2019,	these	borrowings	and	advances	are	secured	by	$43.0	billion	and	$39.6	billion,	respectively,	of	loans.6.	ALLOWANCE	FOR	CREDIT	LOSSES	On	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments,	which	replaced	the	incurred	loss	methodology	with	an	expected	loss	methodology	that	is	referred	to	as	the	current	expected	credit	loss	(“CECL”)	methodology.		The	measurement	of	expected	credit	losses	under	CECL	is	applicable	to	financial	assets	measured	at	amortized	cost,	including	loan	receivables	and	held-to-maturity	debt	securities.		It	also	applies	to	off-balance	sheet	exposures	not	accounted	for	as	insurance	and	net	investments	in	leases	accounted	for	under	ASC	Topic	842.		Additionally,	ASC	Topic	326	made	changes	to	the	accounting	for	AFS	debt	securities,	including	a	requirement	to	present	credit	losses	as	an	allowance	rather	than	as	a	write-down	on	AFS	debt	securities	that	management	does	not	intend	to	sell,	or	believes	will	not	be	required	to	sell.	Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	adoption	is	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.2020	Form	10-K					133Consumer	loan	TDRs	–	Residential	mortgage	TDRs	represent	loan	modifications	associated	with	traditional	first-lien	mortgage	loans	in	which	a	concession	has	been	provided	to	the	borrower.		The	primary	concessions	given	to	residential	mortgage	borrowers	are	amortization	or	maturity	date	changes	and	interest	rate	reductions.		Residential	mortgages	identified	as	TDRs	involve	borrowers	unable	to	refinance	their	mortgages	through	the	Company’s	normal	mortgage	origination	channels	or	through	other	independent	sources.		Some,	but	not	all,	of	the	loans	may	be	delinquent.		The	Company	may	make	similar	interest	rate,	term,	and	principal	concessions	for	Automobile,	Home	Equity,	RV	and	Marine	and	Other	Consumer	loan	TDRs.TDR	Impact	on	Credit	QualityHuntington’s	ALLL	is	largely	determined	by	risk	ratings	assigned	to	commercial	loans,	updated	borrower	credit	scores	on	consumer	loans,	and	borrower	delinquency	history	in	both	the	commercial	and	consumer	portfolios.		These	risk	ratings	and	credit	scores	consider	the	default	history	of	the	borrower,	including	payment	redefaults.		As	such,	the	provision	for	credit	losses	is	impacted	primarily	by	changes	in	borrower	payment	performance	rather	than	the	TDR	classification.		TDRs	can	be	classified	as	either	accrual	or	nonaccrual	loans.		Nonaccrual	TDRs	are	included	in	NALs	whereas	accruing	TDRs	are	excluded	from	NALs	as	it	is	probable	that	all	contractual	principal	and	interest	due	under	the	restructured	terms	will	be	collected.The	Company’s	TDRs	may	include	multiple	concessions	and	the	disclosure	classifications	are	presented	based	on	the	primary	concession	provided	to	the	borrower.		The	majority	of	the	concessions	for	the	C&I	and	CRE	portfolios	are	the	extension	of	the	maturity	date,	but	could	also	include	an	interest	rate	concession.		In	these	instances,	the	primary	concession	is	the	maturity	date	extension.The	following	table	presents,	by	class	and	modification	type,	the	number	of	contracts,	post-modification	outstanding	balance,	and	the	financial	effects	of	the	modification	for	the	years	ended	December	31,	2020	and	2019.New	Troubled	Debt	Restructurings	(1)Year	Ended	December	31,	2020Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	317	$	—	$	123	$	—	$	58	$	181	Commercial	real	estate	13		—		3		—		—		3	Automobile	3,018		—		29		6		—		35	Home	equity	273		—		6		8		2		16	Residential	mortgage	585		—		79		7		—		86	RV	and	marine	168		—		4		1		—		5	Other	consumer	622		3		—		—		1		4	Total	new	TDRs	4,996	$	3	$	244	$	22	$	61	$	330	Year	Ended	December	31,	2019Number	ofContractsPost-modification	Outstanding	Recorded	Investment	(2)(dollar	amounts	in	millions)Interest	rate	reductionAmortization	or	maturity	date	changeChapter	7	bankruptcyOtherTotalCommercial	and	industrial	482	$	—	$	172	$	—	$	7	$	179	Commercial	real	estate	29		—		13		—		—		13	Automobile	2,971		—		19		7		—		26	Home	equity	306		—		9		8		—		17	Residential	mortgage	330		—		35		2		—		37	RV	and	marine	139		—		1		2		—		3	Other	consumer	972		8		—		—		—		8	Total	new	TDRs	5,229	$	8	$	249	$	19	$	7	$	283	(1)TDRs	may	include	multiple	concessions.		The	disclosure	classification	is	based	on	the	primary	concession	provided	to	the	borrower.(2)Post-modification	balances	approximate	pre-modification	balances.		The	aggregate	amount	of	charge-offs	as	a	result	of	a	restructuring	are	not	significant.132					Huntington	Bancshares	IncorporatedThe	financial	effects	of	modification	represent	the	impact	on	the	provision	(recovery)	for	loan	and	lease	losses.		Amounts	for	the	years	ended	December	31,	2020	and	December	31,	2019	were	$6	million	and	$(2)	million,	respectively.Pledged	LoansThe	Bank	has	access	to	the	Federal	Reserve’s	discount	window	and	advances	from	the	FHLB.		As	of	December	31,	2020	and	2019,	these	borrowings	and	advances	are	secured	by	$43.0	billion	and	$39.6	billion,	respectively,	of	loans.6.	ALLOWANCE	FOR	CREDIT	LOSSES	On	January	1,	2020,	Huntington	adopted	ASU	2016-13	Financial	Instruments	-	Credit	Losses	(ASC	Topic	326):	Measurement	of	Credit	Losses	on	Financial	Instruments,	which	replaced	the	incurred	loss	methodology	with	an	expected	loss	methodology	that	is	referred	to	as	the	current	expected	credit	loss	(“CECL”)	methodology.		The	measurement	of	expected	credit	losses	under	CECL	is	applicable	to	financial	assets	measured	at	amortized	cost,	including	loan	receivables	and	held-to-maturity	debt	securities.		It	also	applies	to	off-balance	sheet	exposures	not	accounted	for	as	insurance	and	net	investments	in	leases	accounted	for	under	ASC	Topic	842.		Additionally,	ASC	Topic	326	made	changes	to	the	accounting	for	AFS	debt	securities,	including	a	requirement	to	present	credit	losses	as	an	allowance	rather	than	as	a	write-down	on	AFS	debt	securities	that	management	does	not	intend	to	sell,	or	believes	will	not	be	required	to	sell.	Huntington	adopted	ASC	Topic	326	using	the	modified	retrospective	method	for	all	financial	assets	in	scope	of	the	standard.		Results	for	reporting	periods	beginning	after	January	1,	2020	are	presented	under	ASC	Topic	326,	while	prior	period	amounts	continue	to	be	reported	in	accordance	with	previously	applicable	GAAP.		Upon	adoption,	Huntington	recorded	an	increase	to	the	ACL	of	$393	million	and	a	corresponding	decrease	to	retained	earnings	of	approximately	$306	million,	net	of	tax	of	$87	million.		The	overall	increase	to	the	ACL	at	adoption	is	comprised	of	a	$180	million	increase	in	the	commercial	ALLL,	a	$211	million	increase	in	the	consumer	ALLL,	and	a	$2	million	increase	to	the	AULC.2020	Form	10-K					133Allowance	for	Loan	and	Lease	Losses	and	Allowance	for	Credit	Losses	-	Roll-forwardThe	following	table	presents	ALLL	and	AULC	activity	by	portfolio	segment	for	the	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)CommercialConsumerTotalYear	ended	December	31,	2020:ALLL	balance,	beginning	of	period$	552	$	231	$	783	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	180		211		391	Loan	charge-offs	(374)		(166)		(540)	Recoveries	of	loans	previously	charged-off	32		59		91	Provision	for	loan	and	lease	losses	846		243		1,089	ALLL	balance,	end	of	period$	1,236	$	578	$	1,814	AULC	balance,	beginning	of	period$	102	$	2	$	104	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	(38)		40		2	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	(17)		(24)		(41)	Unfunded	commitment	losses	(13)		—		(13)	AULC	balance,	end	of	period$	34	$	18	$	52	ACL	balance,	end	of	period$	1,270	$	596	$	1,866	Year	ended	December	31,	2019:ALLL	balance,	beginning	of	period$	542	$	230	$	772	Loan	charge-offs	(165)		(197)		(362)	Recoveries	of	loans	previously	charged-off	40		57		97	Provision	for	loan	and	lease	losses	135		142		277	Allowance	for	loans	sold	or	transferred	to	loans	held	for	sale	—		(1)		(1)	ALLL	balance,	end	of	period$	552	$	231	$	783	AULC	balance,	beginning	of	period$	94	$	2	$	96	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		—		10	Unfunded	commitment	losses	(2)		—		(2)	AULC	balance,	end	of	period$	102	$	2	$	104	ACL	balance,	end	of	period$	654	$	233	$	887		Year	ended	December	31,	2018:ALLL	balance,	beginning	of	period$	482	$	209	$	691	Loan	charge-offs	(79)		(189)		(268)	Recoveries	of	loans	previously	charged-off	65		58		123	Provision	for	loan	and	lease	losses	74		152		226	ALLL	balance,	end	of	period$	542	$	230	$	772	AULC	balance,	beginning	of	period$	84	$	3	$	87	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		(1)		9	AULC	balance,	end	of	period$	94	$	2	$	96	ACL	balance,	end	of	period$	636	$	232	$	868	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.At	December	31,	2020,	the	ACL	was	$1.9	billion,	an	increase	of	$979	million	from	the	December	31,	2019	balance	of	$887	million.		Of	the	increase,	$586	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic	as	evidenced	in	part	by	the	changes	in	assumed	unemployment	rate	levels	during	2020.		When	estimating	the	January	1,	2020	CECL	implementation	adjustment,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	3.75%.		When	estimating	the	December	31,	2020	ACL,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	7.20%.		The	remaining	increase	of	$393	million	was	related	to	the	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	in	the	ACL	from	2019	year-end	levels	related	to	the	commercial	portfolio.134					Huntington	Bancshares	IncorporatedThe	suite	of	CECL	models	are	generally	dependent	on	the	rate	of	change	in	unemployment	rather	than	the	absolute	unemployment	levels.		Additionally,	the	economic	scenarios	used	in	the	December	31,	2020	ACL	determination	contained	significant	judgmental	assumptions	around	the	ultimate	number	of	COVID-19	cases	and	the	level	and	timing	of	government	stimulus.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.7.	MORTGAGE	LOAN	SALES	AND	SERVICING	RIGHTS	Residential	Mortgage	PortfolioThe	following	table	summarizes	activity	relating	to	residential	mortgage	loans	sold	with	servicing	retained	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Residential	mortgage	loans	sold	with	servicing	retained$	8,436	$	4,841	$	3,846	Pretax	gains	resulting	from	above	loan	sales	(1)	311		119		87	(1)Recorded	in	mortgage	banking	income.The	following	table	summarizes	the	changes	in	MSRs	recorded	using	the	fair	value	method	for	the	years	ended	December	31,	2020	and	2019	(1):Year	EndedDecember	31,(dollar	amounts	in	millions)20202019	(1)Fair	value,	beginning	of	period$	7	$	10	Fair	value	election	for	servicing	assets	previously	measured	using	the	amortized	method	205		—	New	servicing	assets	created	102		—	Change	in	fair	value	during	the	period	due	to:Time	decay	(2)	(9)		(1)	Payoffs	(3)	(43)		(1)	Changes	in	valuation	inputs	or	assumptions	(4)	(52)		(1)	Fair	value,	end	of	period$	210	$	7	Weighted-average	life	(years)7.66.4(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.(2)Represents	decrease	in	value	due	to	passage	of	time,	including	the	impact	from	both	regularly	scheduled	principal	payments	and	partial	loan	paydowns.(3)Represents	decrease	in	value	associated	with	loans	that	paid	off	during	the	period.(4)Represents	change	in	value	resulting	primarily	from	market-driven	changes	in	interestMSRs	do	not	trade	in	an	active,	open	market	with	readily	observable	prices.		Therefore,	the	fair	value	of	MSRs	is	estimated	using	a	discounted	future	cash	flow	model.		Changes	in	the	assumptions	used	may	have	a	significant	impact	on	the	valuation	of	MSRs.		MSR	values	are	highly	sensitive	to	movement	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	greatly	impacted	by	the	level	of	prepayments.2020	Form	10-K					135Allowance	for	Loan	and	Lease	Losses	and	Allowance	for	Credit	Losses	-	Roll-forwardThe	following	table	presents	ALLL	and	AULC	activity	by	portfolio	segment	for	the	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)CommercialConsumerTotalYear	ended	December	31,	2020:ALLL	balance,	beginning	of	period$	552	$	231	$	783	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	180		211		391	Loan	charge-offs	(374)		(166)		(540)	Recoveries	of	loans	previously	charged-off	32		59		91	Provision	for	loan	and	lease	losses	846		243		1,089	ALLL	balance,	end	of	period$	1,236	$	578	$	1,814	AULC	balance,	beginning	of	period$	102	$	2	$	104	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	(38)		40		2	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	(17)		(24)		(41)	Unfunded	commitment	losses	(13)		—		(13)	AULC	balance,	end	of	period$	34	$	18	$	52	ACL	balance,	end	of	period$	1,270	$	596	$	1,866	Year	ended	December	31,	2019:ALLL	balance,	beginning	of	period$	542	$	230	$	772	Loan	charge-offs	(165)		(197)		(362)	Recoveries	of	loans	previously	charged-off	40		57		97	Provision	for	loan	and	lease	losses	135		142		277	Allowance	for	loans	sold	or	transferred	to	loans	held	for	sale	—		(1)		(1)	ALLL	balance,	end	of	period$	552	$	231	$	783	AULC	balance,	beginning	of	period$	94	$	2	$	96	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		—		10	Unfunded	commitment	losses	(2)		—		(2)	AULC	balance,	end	of	period$	102	$	2	$	104	ACL	balance,	end	of	period$	654	$	233	$	887		Year	ended	December	31,	2018:ALLL	balance,	beginning	of	period$	482	$	209	$	691	Loan	charge-offs	(79)		(189)		(268)	Recoveries	of	loans	previously	charged-off	65		58		123	Provision	for	loan	and	lease	losses	74		152		226	ALLL	balance,	end	of	period$	542	$	230	$	772	AULC	balance,	beginning	of	period$	84	$	3	$	87	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		(1)		9	AULC	balance,	end	of	period$	94	$	2	$	96	ACL	balance,	end	of	period$	636	$	232	$	868	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.At	December	31,	2020,	the	ACL	was	$1.9	billion,	an	increase	of	$979	million	from	the	December	31,	2019	balance	of	$887	million.		Of	the	increase,	$586	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic	as	evidenced	in	part	by	the	changes	in	assumed	unemployment	rate	levels	during	2020.		When	estimating	the	January	1,	2020	CECL	implementation	adjustment,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	3.75%.		When	estimating	the	December	31,	2020	ACL,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	7.20%.		The	remaining	increase	of	$393	million	was	related	to	the	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	in	the	ACL	from	2019	year-end	levels	related	to	the	commercial	portfolio.134					Huntington	Bancshares	IncorporatedThe	suite	of	CECL	models	are	generally	dependent	on	the	rate	of	change	in	unemployment	rather	than	the	absolute	unemployment	levels.		Additionally,	the	economic	scenarios	used	in	the	December	31,	2020	ACL	determination	contained	significant	judgmental	assumptions	around	the	ultimate	number	of	COVID-19	cases	and	the	level	and	timing	of	government	stimulus.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.7.	MORTGAGE	LOAN	SALES	AND	SERVICING	RIGHTS	Residential	Mortgage	PortfolioThe	following	table	summarizes	activity	relating	to	residential	mortgage	loans	sold	with	servicing	retained	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Residential	mortgage	loans	sold	with	servicing	retained$	8,436	$	4,841	$	3,846	Pretax	gains	resulting	from	above	loan	sales	(1)	311		119		87	(1)Recorded	in	mortgage	banking	income.The	following	table	summarizes	the	changes	in	MSRs	recorded	using	the	fair	value	method	for	the	years	ended	December	31,	2020	and	2019	(1):Year	EndedDecember	31,(dollar	amounts	in	millions)20202019	(1)Fair	value,	beginning	of	period$	7	$	10	Fair	value	election	for	servicing	assets	previously	measured	using	the	amortized	method	205		—	New	servicing	assets	created	102		—	Change	in	fair	value	during	the	period	due	to:Time	decay	(2)	(9)		(1)	Payoffs	(3)	(43)		(1)	Changes	in	valuation	inputs	or	assumptions	(4)	(52)		(1)	Fair	value,	end	of	period$	210	$	7	Weighted-average	life	(years)7.66.4(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.(2)Represents	decrease	in	value	due	to	passage	of	time,	including	the	impact	from	both	regularly	scheduled	principal	payments	and	partial	loan	paydowns.(3)Represents	decrease	in	value	associated	with	loans	that	paid	off	during	the	period.(4)Represents	change	in	value	resulting	primarily	from	market-driven	changes	in	interestMSRs	do	not	trade	in	an	active,	open	market	with	readily	observable	prices.		Therefore,	the	fair	value	of	MSRs	is	estimated	using	a	discounted	future	cash	flow	model.		Changes	in	the	assumptions	used	may	have	a	significant	impact	on	the	valuation	of	MSRs.		MSR	values	are	highly	sensitive	to	movement	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	greatly	impacted	by	the	level	of	prepayments.2020	Form	10-K					135Allowance	for	Loan	and	Lease	Losses	and	Allowance	for	Credit	Losses	-	Roll-forwardThe	following	table	presents	ALLL	and	AULC	activity	by	portfolio	segment	for	the	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)CommercialConsumerTotalYear	ended	December	31,	2020:ALLL	balance,	beginning	of	period$	552	$	231	$	783	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	180		211		391	Loan	charge-offs	(374)		(166)		(540)	Recoveries	of	loans	previously	charged-off	32		59		91	Provision	for	loan	and	lease	losses	846		243		1,089	ALLL	balance,	end	of	period$	1,236	$	578	$	1,814	AULC	balance,	beginning	of	period$	102	$	2	$	104	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	(38)		40		2	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	(17)		(24)		(41)	Unfunded	commitment	losses	(13)		—		(13)	AULC	balance,	end	of	period$	34	$	18	$	52	ACL	balance,	end	of	period$	1,270	$	596	$	1,866	Year	ended	December	31,	2019:ALLL	balance,	beginning	of	period$	542	$	230	$	772	Loan	charge-offs	(165)		(197)		(362)	Recoveries	of	loans	previously	charged-off	40		57		97	Provision	for	loan	and	lease	losses	135		142		277	Allowance	for	loans	sold	or	transferred	to	loans	held	for	sale	—		(1)		(1)	ALLL	balance,	end	of	period$	552	$	231	$	783	AULC	balance,	beginning	of	period$	94	$	2	$	96	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		—		10	Unfunded	commitment	losses	(2)		—		(2)	AULC	balance,	end	of	period$	102	$	2	$	104	ACL	balance,	end	of	period$	654	$	233	$	887		Year	ended	December	31,	2018:ALLL	balance,	beginning	of	period$	482	$	209	$	691	Loan	charge-offs	(79)		(189)		(268)	Recoveries	of	loans	previously	charged-off	65		58		123	Provision	for	loan	and	lease	losses	74		152		226	ALLL	balance,	end	of	period$	542	$	230	$	772	AULC	balance,	beginning	of	period$	84	$	3	$	87	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		(1)		9	AULC	balance,	end	of	period$	94	$	2	$	96	ACL	balance,	end	of	period$	636	$	232	$	868	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.At	December	31,	2020,	the	ACL	was	$1.9	billion,	an	increase	of	$979	million	from	the	December	31,	2019	balance	of	$887	million.		Of	the	increase,	$586	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic	as	evidenced	in	part	by	the	changes	in	assumed	unemployment	rate	levels	during	2020.		When	estimating	the	January	1,	2020	CECL	implementation	adjustment,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	3.75%.		When	estimating	the	December	31,	2020	ACL,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	7.20%.		The	remaining	increase	of	$393	million	was	related	to	the	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	in	the	ACL	from	2019	year-end	levels	related	to	the	commercial	portfolio.134					Huntington	Bancshares	IncorporatedThe	suite	of	CECL	models	are	generally	dependent	on	the	rate	of	change	in	unemployment	rather	than	the	absolute	unemployment	levels.		Additionally,	the	economic	scenarios	used	in	the	December	31,	2020	ACL	determination	contained	significant	judgmental	assumptions	around	the	ultimate	number	of	COVID-19	cases	and	the	level	and	timing	of	government	stimulus.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.7.	MORTGAGE	LOAN	SALES	AND	SERVICING	RIGHTS	Residential	Mortgage	PortfolioThe	following	table	summarizes	activity	relating	to	residential	mortgage	loans	sold	with	servicing	retained	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Residential	mortgage	loans	sold	with	servicing	retained$	8,436	$	4,841	$	3,846	Pretax	gains	resulting	from	above	loan	sales	(1)	311		119		87	(1)Recorded	in	mortgage	banking	income.The	following	table	summarizes	the	changes	in	MSRs	recorded	using	the	fair	value	method	for	the	years	ended	December	31,	2020	and	2019	(1):Year	EndedDecember	31,(dollar	amounts	in	millions)20202019	(1)Fair	value,	beginning	of	period$	7	$	10	Fair	value	election	for	servicing	assets	previously	measured	using	the	amortized	method	205		—	New	servicing	assets	created	102		—	Change	in	fair	value	during	the	period	due	to:Time	decay	(2)	(9)		(1)	Payoffs	(3)	(43)		(1)	Changes	in	valuation	inputs	or	assumptions	(4)	(52)		(1)	Fair	value,	end	of	period$	210	$	7	Weighted-average	life	(years)7.66.4(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.(2)Represents	decrease	in	value	due	to	passage	of	time,	including	the	impact	from	both	regularly	scheduled	principal	payments	and	partial	loan	paydowns.(3)Represents	decrease	in	value	associated	with	loans	that	paid	off	during	the	period.(4)Represents	change	in	value	resulting	primarily	from	market-driven	changes	in	interestMSRs	do	not	trade	in	an	active,	open	market	with	readily	observable	prices.		Therefore,	the	fair	value	of	MSRs	is	estimated	using	a	discounted	future	cash	flow	model.		Changes	in	the	assumptions	used	may	have	a	significant	impact	on	the	valuation	of	MSRs.		MSR	values	are	highly	sensitive	to	movement	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	greatly	impacted	by	the	level	of	prepayments.2020	Form	10-K					135Allowance	for	Loan	and	Lease	Losses	and	Allowance	for	Credit	Losses	-	Roll-forwardThe	following	table	presents	ALLL	and	AULC	activity	by	portfolio	segment	for	the	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)CommercialConsumerTotalYear	ended	December	31,	2020:ALLL	balance,	beginning	of	period$	552	$	231	$	783	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	180		211		391	Loan	charge-offs	(374)		(166)		(540)	Recoveries	of	loans	previously	charged-off	32		59		91	Provision	for	loan	and	lease	losses	846		243		1,089	ALLL	balance,	end	of	period$	1,236	$	578	$	1,814	AULC	balance,	beginning	of	period$	102	$	2	$	104	Cumulative-effect	of	change	in	accounting	principle	for	financial	instruments	-	credit	losses	(1)	(38)		40		2	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	(17)		(24)		(41)	Unfunded	commitment	losses	(13)		—		(13)	AULC	balance,	end	of	period$	34	$	18	$	52	ACL	balance,	end	of	period$	1,270	$	596	$	1,866	Year	ended	December	31,	2019:ALLL	balance,	beginning	of	period$	542	$	230	$	772	Loan	charge-offs	(165)		(197)		(362)	Recoveries	of	loans	previously	charged-off	40		57		97	Provision	for	loan	and	lease	losses	135		142		277	Allowance	for	loans	sold	or	transferred	to	loans	held	for	sale	—		(1)		(1)	ALLL	balance,	end	of	period$	552	$	231	$	783	AULC	balance,	beginning	of	period$	94	$	2	$	96	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		—		10	Unfunded	commitment	losses	(2)		—		(2)	AULC	balance,	end	of	period$	102	$	2	$	104	ACL	balance,	end	of	period$	654	$	233	$	887		Year	ended	December	31,	2018:ALLL	balance,	beginning	of	period$	482	$	209	$	691	Loan	charge-offs	(79)		(189)		(268)	Recoveries	of	loans	previously	charged-off	65		58		123	Provision	for	loan	and	lease	losses	74		152		226	ALLL	balance,	end	of	period$	542	$	230	$	772	AULC	balance,	beginning	of	period$	84	$	3	$	87	Provision	(reduction	in	allowance)	for	unfunded	loan	commitments	and	letters	of	credit	10		(1)		9	AULC	balance,	end	of	period$	94	$	2	$	96	ACL	balance,	end	of	period$	636	$	232	$	868	(1)Relates	to	day	one	impact	of	the	CECL	adjustment	as	a	result	of	the	implementation	of	ASU	2016-13.At	December	31,	2020,	the	ACL	was	$1.9	billion,	an	increase	of	$979	million	from	the	December	31,	2019	balance	of	$887	million.		Of	the	increase,	$586	million	relates	primarily	to	the	deterioration	in	the	macroeconomic	outlook	resulting	from	the	COVID-19	pandemic	as	evidenced	in	part	by	the	changes	in	assumed	unemployment	rate	levels	during	2020.		When	estimating	the	January	1,	2020	CECL	implementation	adjustment,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	3.75%.		When	estimating	the	December	31,	2020	ACL,	the	assumed	unemployment	rate	for	fourth	quarter	2020	in	the	base	case	scenario	was	7.20%.		The	remaining	increase	of	$393	million	was	related	to	the	transition	to	the	CECL	lifetime	loss	methodology.		The	majority	of	the	increase	in	the	ACL	from	2019	year-end	levels	related	to	the	commercial	portfolio.134					Huntington	Bancshares	IncorporatedThe	suite	of	CECL	models	are	generally	dependent	on	the	rate	of	change	in	unemployment	rather	than	the	absolute	unemployment	levels.		Additionally,	the	economic	scenarios	used	in	the	December	31,	2020	ACL	determination	contained	significant	judgmental	assumptions	around	the	ultimate	number	of	COVID-19	cases	and	the	level	and	timing	of	government	stimulus.		Given	the	impact	of	the	unemployment	variable	utilized	within	the	models	and	the	uncertainty	associated	with	key	economic	scenario	assumptions,	the	December	31,	2020	ACL	included	a	material	general	reserve	component	to	capture	this	economic	uncertainty	risk	not	addressed	within	the	quantitative	transaction	reserve.		NCOs	increased	$184	million,	or	69%,	in	2020.		The	increase	was	driven	by	commercial	NCOs,	which	were	centered	in	our	oil	and	gas	portfolio,	partially	offset	by	a	decline	in	other	consumer.7.	MORTGAGE	LOAN	SALES	AND	SERVICING	RIGHTS	Residential	Mortgage	PortfolioThe	following	table	summarizes	activity	relating	to	residential	mortgage	loans	sold	with	servicing	retained	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Residential	mortgage	loans	sold	with	servicing	retained$	8,436	$	4,841	$	3,846	Pretax	gains	resulting	from	above	loan	sales	(1)	311		119		87	(1)Recorded	in	mortgage	banking	income.The	following	table	summarizes	the	changes	in	MSRs	recorded	using	the	fair	value	method	for	the	years	ended	December	31,	2020	and	2019	(1):Year	EndedDecember	31,(dollar	amounts	in	millions)20202019	(1)Fair	value,	beginning	of	period$	7	$	10	Fair	value	election	for	servicing	assets	previously	measured	using	the	amortized	method	205		—	New	servicing	assets	created	102		—	Change	in	fair	value	during	the	period	due	to:Time	decay	(2)	(9)		(1)	Payoffs	(3)	(43)		(1)	Changes	in	valuation	inputs	or	assumptions	(4)	(52)		(1)	Fair	value,	end	of	period$	210	$	7	Weighted-average	life	(years)7.66.4(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.(2)Represents	decrease	in	value	due	to	passage	of	time,	including	the	impact	from	both	regularly	scheduled	principal	payments	and	partial	loan	paydowns.(3)Represents	decrease	in	value	associated	with	loans	that	paid	off	during	the	period.(4)Represents	change	in	value	resulting	primarily	from	market-driven	changes	in	interestMSRs	do	not	trade	in	an	active,	open	market	with	readily	observable	prices.		Therefore,	the	fair	value	of	MSRs	is	estimated	using	a	discounted	future	cash	flow	model.		Changes	in	the	assumptions	used	may	have	a	significant	impact	on	the	valuation	of	MSRs.		MSR	values	are	highly	sensitive	to	movement	in	interest	rates	as	expected	future	net	servicing	income	depends	on	the	projected	outstanding	principal	balances	of	the	underlying	loans,	which	can	be	greatly	impacted	by	the	level	of	prepayments.2020	Form	10-K					135For	MSRs	under	the	fair	value	method,	a	summary	of	key	assumptions	and	the	sensitivity	of	the	MSR	value	to	changes	in	these	assumptions	at	December	31,	2020,	and	December	31,	2019	follows:December	31,	2020December	31,	2019	(1)Decline	in	fair	value	due	toDecline	in	fair	value	due	to(dollar	amounts	in	millions)Actual10%adversechange20%adversechangeActual10%adversechange20%adversechangeConstant	prepayment	rate	(annualized)	17.36	%$	(12)	$	(23)		8.21	%$	—	$	—	Spread	over	forward	interest	rate	swap	rates	519	bps	(4)		(8)		824	bps	—		—	(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.	Total	servicing,	late	and	other	ancillary	fees	included	in	mortgage	banking	income	was	$64	million,	$63	million,	and	$60	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.		The	unpaid	principal	balance	of	residential	mortgage	loans	serviced	for	third	parties	was	$23.5	billion,	$22.4	billion,	and	$21.0	billion	at	December	31,	2020,	2019,	and	2018,	respectively.8.	GOODWILL	AND	OTHER	INTANGIBLE	ASSETS	Business	segments	are	based	on	segment	leadership	structure,	which	reflects	how	segment	performance	is	monitored	and	assessed.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		A	rollforward	of	goodwill	by	business	segment	for	the	years	ended	December	31,	2020	and	2019,	is	presented	in	the	table	below:	Consumer	&						BusinessCommercialVehicle	Treasury/Huntington(dollar	amounts	in	millions)BankingBankingFinanceRBHPCGOtherConsolidatedBalance,	January	1,	2019$	1,393	$	426	$	—	$	170	$	—	$	1,989	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		1		—		—		—		1	Balance,	December	31,	2019	1,393		427		—		170		—		1,990	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		—		—		—		—		—	Balance,	December	31,	2020$	1,393	$	427	$	—	$	170	$	—	$	1,990	Goodwill	is	not	amortized	but	is	evaluated	for	impairment	on	an	annual	basis	at	October	1	of	each	year	or	whenever	events	or	changes	in	circumstances	indicate	the	carrying	value	may	not	be	recoverable.		No	impairment	was	recorded	in	2020	or	2019.The	emergence	of	COVID-19	as	a	global	pandemic	early	in	2020	led	to	significant	deterioration	in	the	economic	environment	which	has	impacted	expected	earnings.		Following	qualitative	assessments	of	the	goodwill	balance	in	each	of	the	first	3	quarters	of	2020,	management	conducted	its	annual	goodwill	impairment	test	effective	October	1,	2020.		Impairment	was	not	identified	in	any	of	the	Bank’s	reporting	units	during	the	annual	test	and	further	deterioration	in	the	economic	environment	was	not	identified	leading	up	to	year	end.		Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	by	management.	136					Huntington	Bancshares	IncorporatedAt	December	31,	2020	and	2019,	Huntington’s	other	intangible	assets	consisted	of	the	following:(dollar	amounts	in	millions)GrossCarryingAmountAccumulatedAmortizationNetCarryingValueDecember	31,	2020Core	deposit	intangible$	310	$	(150)	$	160	Customer	relationship	101		(70)		31	Total	other	intangible	assets$	411	$	(220)	$	191	December	31,	2019Core	deposit	intangible$	310	$	(120)	$	190	Customer	relationship	115		(73)		42	Total	other	intangible	assets$	425	$	(193)	$	232	The	estimated	amortization	expense	of	other	intangible	assets	for	the	next	five	years	is	as	follows:(dollar	amounts	in	millions)AmortizationExpense2021$	38	2022	36	2023	34	2024	32	2025	31	9.	PREMISES	AND	EQUIPMENTPremises	and	equipment	were	comprised	of	the	following	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Land	and	land	improvements$	198	$	189	Buildings	586		587	Leasehold	improvements	203		205	Equipment	736		742	Total	premises	and	equipment	1,723		1,723	Less	accumulated	depreciation	and	amortization	(966)		(960)	Net	premises	and	equipment$	757	$	763	Depreciation	and	amortization	charged	to	expense	and	rental	income	credited	to	net	occupancy	expense	for	the	three	years	ended	December	31,	2020,	2019,	and	2018	were:(dollar	amounts	in	millions)202020192018Total	depreciation	and	amortization	of	premises	and	equipment$	119	$	116	$	130	Rental	income	credited	to	occupancy	expense	10		11		13	10.	OPERATING	LEASES	At	December	31,	2020,	Huntington	was	obligated	under	non-cancelable	leases	for	branch	and	office	space.		These	leases	are	all	classified	as	operating	due	to	the	amount	of	time	such	spaces	are	occupied	relative	to	the	underlying	assets	useful	lives.		Many	of	these	leases	contain	renewal	options,	most	of	which	are	not	included	in	measurement	of	the	right-of-use	asset	as	they	are	not	considered	reasonably	certain	of	exercise	(i.e.,	Huntington	does	not	currently	have	a	significant	economic	incentive	to	exercise	these	options).		Some	leases	contain	escalation	clauses	calling	for	rentals	to	be	adjusted	for	increased	real	estate	taxes	and	other	operating	expenses	or	proportionately	adjusted	for	increases	in	the	consumer	or	other	price	indices.		Occasionally,	Huntington	will	sublease	the	land	and	buildings	for	which	it	has	obtained	the	right	to	use;	substantially	all	of	those	sublease	arrangements	are	classified	as	operating,	with	sublease	income	recognized	on	a	straight-line	basis	over	the	contractual	term	of	the	arrangement.2020	Form	10-K					137For	MSRs	under	the	fair	value	method,	a	summary	of	key	assumptions	and	the	sensitivity	of	the	MSR	value	to	changes	in	these	assumptions	at	December	31,	2020,	and	December	31,	2019	follows:December	31,	2020December	31,	2019	(1)Decline	in	fair	value	due	toDecline	in	fair	value	due	to(dollar	amounts	in	millions)Actual10%adversechange20%adversechangeActual10%adversechange20%adversechangeConstant	prepayment	rate	(annualized)	17.36	%$	(12)	$	(23)		8.21	%$	—	$	—	Spread	over	forward	interest	rate	swap	rates	519	bps	(4)		(8)		824	bps	—		—	(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.	Total	servicing,	late	and	other	ancillary	fees	included	in	mortgage	banking	income	was	$64	million,	$63	million,	and	$60	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.		The	unpaid	principal	balance	of	residential	mortgage	loans	serviced	for	third	parties	was	$23.5	billion,	$22.4	billion,	and	$21.0	billion	at	December	31,	2020,	2019,	and	2018,	respectively.8.	GOODWILL	AND	OTHER	INTANGIBLE	ASSETS	Business	segments	are	based	on	segment	leadership	structure,	which	reflects	how	segment	performance	is	monitored	and	assessed.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		A	rollforward	of	goodwill	by	business	segment	for	the	years	ended	December	31,	2020	and	2019,	is	presented	in	the	table	below:	Consumer	&						BusinessCommercialVehicle	Treasury/Huntington(dollar	amounts	in	millions)BankingBankingFinanceRBHPCGOtherConsolidatedBalance,	January	1,	2019$	1,393	$	426	$	—	$	170	$	—	$	1,989	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		1		—		—		—		1	Balance,	December	31,	2019	1,393		427		—		170		—		1,990	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		—		—		—		—		—	Balance,	December	31,	2020$	1,393	$	427	$	—	$	170	$	—	$	1,990	Goodwill	is	not	amortized	but	is	evaluated	for	impairment	on	an	annual	basis	at	October	1	of	each	year	or	whenever	events	or	changes	in	circumstances	indicate	the	carrying	value	may	not	be	recoverable.		No	impairment	was	recorded	in	2020	or	2019.The	emergence	of	COVID-19	as	a	global	pandemic	early	in	2020	led	to	significant	deterioration	in	the	economic	environment	which	has	impacted	expected	earnings.		Following	qualitative	assessments	of	the	goodwill	balance	in	each	of	the	first	3	quarters	of	2020,	management	conducted	its	annual	goodwill	impairment	test	effective	October	1,	2020.		Impairment	was	not	identified	in	any	of	the	Bank’s	reporting	units	during	the	annual	test	and	further	deterioration	in	the	economic	environment	was	not	identified	leading	up	to	year	end.		Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	by	management.	136					Huntington	Bancshares	IncorporatedAt	December	31,	2020	and	2019,	Huntington’s	other	intangible	assets	consisted	of	the	following:(dollar	amounts	in	millions)GrossCarryingAmountAccumulatedAmortizationNetCarryingValueDecember	31,	2020Core	deposit	intangible$	310	$	(150)	$	160	Customer	relationship	101		(70)		31	Total	other	intangible	assets$	411	$	(220)	$	191	December	31,	2019Core	deposit	intangible$	310	$	(120)	$	190	Customer	relationship	115		(73)		42	Total	other	intangible	assets$	425	$	(193)	$	232	The	estimated	amortization	expense	of	other	intangible	assets	for	the	next	five	years	is	as	follows:(dollar	amounts	in	millions)AmortizationExpense2021$	38	2022	36	2023	34	2024	32	2025	31	9.	PREMISES	AND	EQUIPMENTPremises	and	equipment	were	comprised	of	the	following	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Land	and	land	improvements$	198	$	189	Buildings	586		587	Leasehold	improvements	203		205	Equipment	736		742	Total	premises	and	equipment	1,723		1,723	Less	accumulated	depreciation	and	amortization	(966)		(960)	Net	premises	and	equipment$	757	$	763	Depreciation	and	amortization	charged	to	expense	and	rental	income	credited	to	net	occupancy	expense	for	the	three	years	ended	December	31,	2020,	2019,	and	2018	were:(dollar	amounts	in	millions)202020192018Total	depreciation	and	amortization	of	premises	and	equipment$	119	$	116	$	130	Rental	income	credited	to	occupancy	expense	10		11		13	10.	OPERATING	LEASES	At	December	31,	2020,	Huntington	was	obligated	under	non-cancelable	leases	for	branch	and	office	space.		These	leases	are	all	classified	as	operating	due	to	the	amount	of	time	such	spaces	are	occupied	relative	to	the	underlying	assets	useful	lives.		Many	of	these	leases	contain	renewal	options,	most	of	which	are	not	included	in	measurement	of	the	right-of-use	asset	as	they	are	not	considered	reasonably	certain	of	exercise	(i.e.,	Huntington	does	not	currently	have	a	significant	economic	incentive	to	exercise	these	options).		Some	leases	contain	escalation	clauses	calling	for	rentals	to	be	adjusted	for	increased	real	estate	taxes	and	other	operating	expenses	or	proportionately	adjusted	for	increases	in	the	consumer	or	other	price	indices.		Occasionally,	Huntington	will	sublease	the	land	and	buildings	for	which	it	has	obtained	the	right	to	use;	substantially	all	of	those	sublease	arrangements	are	classified	as	operating,	with	sublease	income	recognized	on	a	straight-line	basis	over	the	contractual	term	of	the	arrangement.2020	Form	10-K					137For	MSRs	under	the	fair	value	method,	a	summary	of	key	assumptions	and	the	sensitivity	of	the	MSR	value	to	changes	in	these	assumptions	at	December	31,	2020,	and	December	31,	2019	follows:December	31,	2020December	31,	2019	(1)Decline	in	fair	value	due	toDecline	in	fair	value	due	to(dollar	amounts	in	millions)Actual10%adversechange20%adversechangeActual10%adversechange20%adversechangeConstant	prepayment	rate	(annualized)	17.36	%$	(12)	$	(23)		8.21	%$	—	$	—	Spread	over	forward	interest	rate	swap	rates	519	bps	(4)		(8)		824	bps	—		—	(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.	Total	servicing,	late	and	other	ancillary	fees	included	in	mortgage	banking	income	was	$64	million,	$63	million,	and	$60	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.		The	unpaid	principal	balance	of	residential	mortgage	loans	serviced	for	third	parties	was	$23.5	billion,	$22.4	billion,	and	$21.0	billion	at	December	31,	2020,	2019,	and	2018,	respectively.8.	GOODWILL	AND	OTHER	INTANGIBLE	ASSETS	Business	segments	are	based	on	segment	leadership	structure,	which	reflects	how	segment	performance	is	monitored	and	assessed.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		A	rollforward	of	goodwill	by	business	segment	for	the	years	ended	December	31,	2020	and	2019,	is	presented	in	the	table	below:	Consumer	&						BusinessCommercialVehicle	Treasury/Huntington(dollar	amounts	in	millions)BankingBankingFinanceRBHPCGOtherConsolidatedBalance,	January	1,	2019$	1,393	$	426	$	—	$	170	$	—	$	1,989	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		1		—		—		—		1	Balance,	December	31,	2019	1,393		427		—		170		—		1,990	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		—		—		—		—		—	Balance,	December	31,	2020$	1,393	$	427	$	—	$	170	$	—	$	1,990	Goodwill	is	not	amortized	but	is	evaluated	for	impairment	on	an	annual	basis	at	October	1	of	each	year	or	whenever	events	or	changes	in	circumstances	indicate	the	carrying	value	may	not	be	recoverable.		No	impairment	was	recorded	in	2020	or	2019.The	emergence	of	COVID-19	as	a	global	pandemic	early	in	2020	led	to	significant	deterioration	in	the	economic	environment	which	has	impacted	expected	earnings.		Following	qualitative	assessments	of	the	goodwill	balance	in	each	of	the	first	3	quarters	of	2020,	management	conducted	its	annual	goodwill	impairment	test	effective	October	1,	2020.		Impairment	was	not	identified	in	any	of	the	Bank’s	reporting	units	during	the	annual	test	and	further	deterioration	in	the	economic	environment	was	not	identified	leading	up	to	year	end.		Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	by	management.	136					Huntington	Bancshares	IncorporatedAt	December	31,	2020	and	2019,	Huntington’s	other	intangible	assets	consisted	of	the	following:(dollar	amounts	in	millions)GrossCarryingAmountAccumulatedAmortizationNetCarryingValueDecember	31,	2020Core	deposit	intangible$	310	$	(150)	$	160	Customer	relationship	101		(70)		31	Total	other	intangible	assets$	411	$	(220)	$	191	December	31,	2019Core	deposit	intangible$	310	$	(120)	$	190	Customer	relationship	115		(73)		42	Total	other	intangible	assets$	425	$	(193)	$	232	The	estimated	amortization	expense	of	other	intangible	assets	for	the	next	five	years	is	as	follows:(dollar	amounts	in	millions)AmortizationExpense2021$	38	2022	36	2023	34	2024	32	2025	31	9.	PREMISES	AND	EQUIPMENTPremises	and	equipment	were	comprised	of	the	following	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Land	and	land	improvements$	198	$	189	Buildings	586		587	Leasehold	improvements	203		205	Equipment	736		742	Total	premises	and	equipment	1,723		1,723	Less	accumulated	depreciation	and	amortization	(966)		(960)	Net	premises	and	equipment$	757	$	763	Depreciation	and	amortization	charged	to	expense	and	rental	income	credited	to	net	occupancy	expense	for	the	three	years	ended	December	31,	2020,	2019,	and	2018	were:(dollar	amounts	in	millions)202020192018Total	depreciation	and	amortization	of	premises	and	equipment$	119	$	116	$	130	Rental	income	credited	to	occupancy	expense	10		11		13	10.	OPERATING	LEASES	At	December	31,	2020,	Huntington	was	obligated	under	non-cancelable	leases	for	branch	and	office	space.		These	leases	are	all	classified	as	operating	due	to	the	amount	of	time	such	spaces	are	occupied	relative	to	the	underlying	assets	useful	lives.		Many	of	these	leases	contain	renewal	options,	most	of	which	are	not	included	in	measurement	of	the	right-of-use	asset	as	they	are	not	considered	reasonably	certain	of	exercise	(i.e.,	Huntington	does	not	currently	have	a	significant	economic	incentive	to	exercise	these	options).		Some	leases	contain	escalation	clauses	calling	for	rentals	to	be	adjusted	for	increased	real	estate	taxes	and	other	operating	expenses	or	proportionately	adjusted	for	increases	in	the	consumer	or	other	price	indices.		Occasionally,	Huntington	will	sublease	the	land	and	buildings	for	which	it	has	obtained	the	right	to	use;	substantially	all	of	those	sublease	arrangements	are	classified	as	operating,	with	sublease	income	recognized	on	a	straight-line	basis	over	the	contractual	term	of	the	arrangement.2020	Form	10-K					137For	MSRs	under	the	fair	value	method,	a	summary	of	key	assumptions	and	the	sensitivity	of	the	MSR	value	to	changes	in	these	assumptions	at	December	31,	2020,	and	December	31,	2019	follows:December	31,	2020December	31,	2019	(1)Decline	in	fair	value	due	toDecline	in	fair	value	due	to(dollar	amounts	in	millions)Actual10%adversechange20%adversechangeActual10%adversechange20%adversechangeConstant	prepayment	rate	(annualized)	17.36	%$	(12)	$	(23)		8.21	%$	—	$	—	Spread	over	forward	interest	rate	swap	rates	519	bps	(4)		(8)		824	bps	—		—	(1)Prior	to	January	1,	2020,	substantially	all	of	Huntington’s	MSR	assets	were	recorded	at	amortized	cost.	Total	servicing,	late	and	other	ancillary	fees	included	in	mortgage	banking	income	was	$64	million,	$63	million,	and	$60	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.		The	unpaid	principal	balance	of	residential	mortgage	loans	serviced	for	third	parties	was	$23.5	billion,	$22.4	billion,	and	$21.0	billion	at	December	31,	2020,	2019,	and	2018,	respectively.8.	GOODWILL	AND	OTHER	INTANGIBLE	ASSETS	Business	segments	are	based	on	segment	leadership	structure,	which	reflects	how	segment	performance	is	monitored	and	assessed.		We	have	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	and	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.		A	rollforward	of	goodwill	by	business	segment	for	the	years	ended	December	31,	2020	and	2019,	is	presented	in	the	table	below:	Consumer	&						BusinessCommercialVehicle	Treasury/Huntington(dollar	amounts	in	millions)BankingBankingFinanceRBHPCGOtherConsolidatedBalance,	January	1,	2019$	1,393	$	426	$	—	$	170	$	—	$	1,989	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		1		—		—		—		1	Balance,	December	31,	2019	1,393		427		—		170		—		1,990	Goodwill	acquired	during	the	period	—		—		—		—		—		—	Adjustments	—		—		—		—		—		—	Balance,	December	31,	2020$	1,393	$	427	$	—	$	170	$	—	$	1,990	Goodwill	is	not	amortized	but	is	evaluated	for	impairment	on	an	annual	basis	at	October	1	of	each	year	or	whenever	events	or	changes	in	circumstances	indicate	the	carrying	value	may	not	be	recoverable.		No	impairment	was	recorded	in	2020	or	2019.The	emergence	of	COVID-19	as	a	global	pandemic	early	in	2020	led	to	significant	deterioration	in	the	economic	environment	which	has	impacted	expected	earnings.		Following	qualitative	assessments	of	the	goodwill	balance	in	each	of	the	first	3	quarters	of	2020,	management	conducted	its	annual	goodwill	impairment	test	effective	October	1,	2020.		Impairment	was	not	identified	in	any	of	the	Bank’s	reporting	units	during	the	annual	test	and	further	deterioration	in	the	economic	environment	was	not	identified	leading	up	to	year	end.		Goodwill	assessments	are	highly	sensitive	to	economic	projections	and	the	related	assumptions	and	estimates	used	by	management.	136					Huntington	Bancshares	IncorporatedAt	December	31,	2020	and	2019,	Huntington’s	other	intangible	assets	consisted	of	the	following:(dollar	amounts	in	millions)GrossCarryingAmountAccumulatedAmortizationNetCarryingValueDecember	31,	2020Core	deposit	intangible$	310	$	(150)	$	160	Customer	relationship	101		(70)		31	Total	other	intangible	assets$	411	$	(220)	$	191	December	31,	2019Core	deposit	intangible$	310	$	(120)	$	190	Customer	relationship	115		(73)		42	Total	other	intangible	assets$	425	$	(193)	$	232	The	estimated	amortization	expense	of	other	intangible	assets	for	the	next	five	years	is	as	follows:(dollar	amounts	in	millions)AmortizationExpense2021$	38	2022	36	2023	34	2024	32	2025	31	9.	PREMISES	AND	EQUIPMENTPremises	and	equipment	were	comprised	of	the	following	at	December	31,	2020	and	2019:	At	December	31,(dollar	amounts	in	millions)20202019Land	and	land	improvements$	198	$	189	Buildings	586		587	Leasehold	improvements	203		205	Equipment	736		742	Total	premises	and	equipment	1,723		1,723	Less	accumulated	depreciation	and	amortization	(966)		(960)	Net	premises	and	equipment$	757	$	763	Depreciation	and	amortization	charged	to	expense	and	rental	income	credited	to	net	occupancy	expense	for	the	three	years	ended	December	31,	2020,	2019,	and	2018	were:(dollar	amounts	in	millions)202020192018Total	depreciation	and	amortization	of	premises	and	equipment$	119	$	116	$	130	Rental	income	credited	to	occupancy	expense	10		11		13	10.	OPERATING	LEASES	At	December	31,	2020,	Huntington	was	obligated	under	non-cancelable	leases	for	branch	and	office	space.		These	leases	are	all	classified	as	operating	due	to	the	amount	of	time	such	spaces	are	occupied	relative	to	the	underlying	assets	useful	lives.		Many	of	these	leases	contain	renewal	options,	most	of	which	are	not	included	in	measurement	of	the	right-of-use	asset	as	they	are	not	considered	reasonably	certain	of	exercise	(i.e.,	Huntington	does	not	currently	have	a	significant	economic	incentive	to	exercise	these	options).		Some	leases	contain	escalation	clauses	calling	for	rentals	to	be	adjusted	for	increased	real	estate	taxes	and	other	operating	expenses	or	proportionately	adjusted	for	increases	in	the	consumer	or	other	price	indices.		Occasionally,	Huntington	will	sublease	the	land	and	buildings	for	which	it	has	obtained	the	right	to	use;	substantially	all	of	those	sublease	arrangements	are	classified	as	operating,	with	sublease	income	recognized	on	a	straight-line	basis	over	the	contractual	term	of	the	arrangement.2020	Form	10-K					137Net	lease	assets	and	liabilities	at	December	31,	2020	and	2019	are	as	follows:At	December	31,(dollar	amounts	in	millions)Classification20202019AssetsOperating	lease	assetsOther	assets$	199	$	210	LiabilitiesLease	liabilitiesOther	liabilities$	220	$	233	Net	lease	cost	for	the	years	ended	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)Classification20202019Operating	lease	costNet	occupancy$	50	$	47	Short-term	lease	costNet	occupancy	1		1	Sublease	incomeNet	occupancy	(2)		(3)	Net	lease	cost$	49	$	45	Maturity	of	lease	liabilities	at	December	31,	2020	are	as	follows:(dollar	amounts	in	millions)Total2021$	43	2022	42	2023	37	2024	32	2025	26	Thereafter	77	Total	lease	payments$	257	Less:	Interest	(37)	Total	lease	liabilities$	220	Additional	supplemental	information	related	to	the	Company’s	operating	leases	as	of	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)20202019Cash	paid	for	amounts	included	in	the	measurement	of	lease	liabilities	for	Operating	cash	flows$	(53)	$	(54)	Right-of-use	assets	obtained	in	exchange	for	lease	obligations	for	Operating	leases	23		40	Weighted-average	remaining	lease	term	(years)	for	Operating	leases7.177.31Weighted-average	discount	rate	for	Operating	leases	4.26	%	4.56	%11.	SHORT-TERM	BORROWINGSBorrowings	with	original	maturities	of	one	year	or	less	are	classified	as	short-term	and	were	comprised	of	the	following	at	December	31,	2020	and	2019:		At	December	31,(dollar	amounts	in	millions)20202019Federal	funds	purchased	and	securities	sold	under	agreements	to	repurchase$	71	$	1,041	Federal	Home	Loan	Bank	advances	—		1,500	Other	borrowings	112		65	Total	short-term	borrowings$	183	$	2,606	138					Huntington	Bancshares	Incorporated12.LONG-TERM	DEBTHuntington’s	long-term	debt	consisted	of	the	following:At	December	31,(dollar	amounts	in	millions)20202019The	Parent	Company:Senior	Notes:3.19%	Huntington	Bancshares	Incorporated	medium-term	notes	due	2021$	802	$	993	2.33%	Huntington	Bancshares	Incorporated	senior	notes	due	2022699	972	2.67%	Huntington	Bancshares	Incorporated	senior	notes	due	2024838	798	4.05%	Huntington	Bancshares	Incorporated	senior	notes	due	2025553	528	2.60%	Huntington	Bancshares	Incorporated	senior	notes	due	2030743	—	Subordinated	Notes:7.00%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2020—	305	3.55%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2023256	247	Huntington	Capital	I	Trust	Preferred	0.94%	junior	subordinated	debentures	due	2027	(1)69	70	Huntington	Capital	II	Trust	Preferred	0.86%	junior	subordinated	debentures	due	2028	(2)32	32	Sky	Financial	Capital	Trust	III	1.64%	junior	subordinated	debentures	due	2036	(3)72	72	Sky	Financial	Capital	Trust	IV	1.64%	junior	subordinated	debentures	due	2036	(3)74	74	Camco	Financial	Statutory	Trust	I	1.57%	due	2037	(4)4	4	Total	notes	issued	by	the	parent4,142	4,095	The	Bank:Senior	Notes:2.47%	Huntington	National	Bank	senior	notes	due	2020—	699	2.42%	Huntington	National	Bank	senior	notes	due	2020	(5)—	300	2.43%	Huntington	National	Bank	senior	notes	due	2020—	500	2.97%	Huntington	National	Bank	senior	notes	due	2020—	499	0.79%	Huntington	National	Bank	senior	notes	due	2021	(6)298	299	3.33%	Huntington	National	Bank	senior	notes	due	2021752	759	2.55%	Huntington	National	Bank	senior	notes	due	2022710	691	3.16%	Huntington	National	Bank	senior	notes	due	2022511	507	1.83%	Huntington	National	Bank	senior	notes	due	2023489	—	3.60%	Huntington	National	Bank	senior	notes	due	2023773	778	Subordinated	Notes:3.86%		Huntington	National	Bank	subordinated	notes	due	2026233	231	Total	notes	issued	by	the	bank3,766	5,263	FHLB	Advances:1.54%	weighted	average	rate,	varying	maturities	greater	than	one	year3	5	Other:Huntington	Technology	Finance	nonrecourse	debt,	3.63%	weighted	average	interest	rate,	varying	maturities266	312	2.12%	Huntington	Preferred	Capital	II	-	Class	F	securities	(7)75	74	2.12%	Huntington	Preferred	Capital	II	-	Class	G	securities	(7)50	50	2.24%	Huntington	Preferred	Capital	II	-	Class	I	securities	(8)50	50	Total	long-term	debt$	8,352	$	9,849	(1)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.70%(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.625%(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.40%(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.33%(5)Variable	effective	rate	at	December	31,	2019,	based	on	three-month	LIBOR	+0.51%	(6)Variable	effective	rate	at	December	31,	2020,	based	on three-month	LIBOR		+0.55%(7)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.88%(8)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+2.00%2020	Form	10-K					139Net	lease	assets	and	liabilities	at	December	31,	2020	and	2019	are	as	follows:At	December	31,(dollar	amounts	in	millions)Classification20202019AssetsOperating	lease	assetsOther	assets$	199	$	210	LiabilitiesLease	liabilitiesOther	liabilities$	220	$	233	Net	lease	cost	for	the	years	ended	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)Classification20202019Operating	lease	costNet	occupancy$	50	$	47	Short-term	lease	costNet	occupancy	1		1	Sublease	incomeNet	occupancy	(2)		(3)	Net	lease	cost$	49	$	45	Maturity	of	lease	liabilities	at	December	31,	2020	are	as	follows:(dollar	amounts	in	millions)Total2021$	43	2022	42	2023	37	2024	32	2025	26	Thereafter	77	Total	lease	payments$	257	Less:	Interest	(37)	Total	lease	liabilities$	220	Additional	supplemental	information	related	to	the	Company’s	operating	leases	as	of	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)20202019Cash	paid	for	amounts	included	in	the	measurement	of	lease	liabilities	for	Operating	cash	flows$	(53)	$	(54)	Right-of-use	assets	obtained	in	exchange	for	lease	obligations	for	Operating	leases	23		40	Weighted-average	remaining	lease	term	(years)	for	Operating	leases7.177.31Weighted-average	discount	rate	for	Operating	leases	4.26	%	4.56	%11.	SHORT-TERM	BORROWINGSBorrowings	with	original	maturities	of	one	year	or	less	are	classified	as	short-term	and	were	comprised	of	the	following	at	December	31,	2020	and	2019:		At	December	31,(dollar	amounts	in	millions)20202019Federal	funds	purchased	and	securities	sold	under	agreements	to	repurchase$	71	$	1,041	Federal	Home	Loan	Bank	advances	—		1,500	Other	borrowings	112		65	Total	short-term	borrowings$	183	$	2,606	138					Huntington	Bancshares	Incorporated12.LONG-TERM	DEBTHuntington’s	long-term	debt	consisted	of	the	following:At	December	31,(dollar	amounts	in	millions)20202019The	Parent	Company:Senior	Notes:3.19%	Huntington	Bancshares	Incorporated	medium-term	notes	due	2021$	802	$	993	2.33%	Huntington	Bancshares	Incorporated	senior	notes	due	2022699	972	2.67%	Huntington	Bancshares	Incorporated	senior	notes	due	2024838	798	4.05%	Huntington	Bancshares	Incorporated	senior	notes	due	2025553	528	2.60%	Huntington	Bancshares	Incorporated	senior	notes	due	2030743	—	Subordinated	Notes:7.00%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2020—	305	3.55%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2023256	247	Huntington	Capital	I	Trust	Preferred	0.94%	junior	subordinated	debentures	due	2027	(1)69	70	Huntington	Capital	II	Trust	Preferred	0.86%	junior	subordinated	debentures	due	2028	(2)32	32	Sky	Financial	Capital	Trust	III	1.64%	junior	subordinated	debentures	due	2036	(3)72	72	Sky	Financial	Capital	Trust	IV	1.64%	junior	subordinated	debentures	due	2036	(3)74	74	Camco	Financial	Statutory	Trust	I	1.57%	due	2037	(4)4	4	Total	notes	issued	by	the	parent4,142	4,095	The	Bank:Senior	Notes:2.47%	Huntington	National	Bank	senior	notes	due	2020—	699	2.42%	Huntington	National	Bank	senior	notes	due	2020	(5)—	300	2.43%	Huntington	National	Bank	senior	notes	due	2020—	500	2.97%	Huntington	National	Bank	senior	notes	due	2020—	499	0.79%	Huntington	National	Bank	senior	notes	due	2021	(6)298	299	3.33%	Huntington	National	Bank	senior	notes	due	2021752	759	2.55%	Huntington	National	Bank	senior	notes	due	2022710	691	3.16%	Huntington	National	Bank	senior	notes	due	2022511	507	1.83%	Huntington	National	Bank	senior	notes	due	2023489	—	3.60%	Huntington	National	Bank	senior	notes	due	2023773	778	Subordinated	Notes:3.86%		Huntington	National	Bank	subordinated	notes	due	2026233	231	Total	notes	issued	by	the	bank3,766	5,263	FHLB	Advances:1.54%	weighted	average	rate,	varying	maturities	greater	than	one	year3	5	Other:Huntington	Technology	Finance	nonrecourse	debt,	3.63%	weighted	average	interest	rate,	varying	maturities266	312	2.12%	Huntington	Preferred	Capital	II	-	Class	F	securities	(7)75	74	2.12%	Huntington	Preferred	Capital	II	-	Class	G	securities	(7)50	50	2.24%	Huntington	Preferred	Capital	II	-	Class	I	securities	(8)50	50	Total	long-term	debt$	8,352	$	9,849	(1)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.70%(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.625%(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.40%(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.33%(5)Variable	effective	rate	at	December	31,	2019,	based	on	three-month	LIBOR	+0.51%	(6)Variable	effective	rate	at	December	31,	2020,	based	on three-month	LIBOR		+0.55%(7)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.88%(8)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+2.00%2020	Form	10-K					139Net	lease	assets	and	liabilities	at	December	31,	2020	and	2019	are	as	follows:At	December	31,(dollar	amounts	in	millions)Classification20202019AssetsOperating	lease	assetsOther	assets$	199	$	210	LiabilitiesLease	liabilitiesOther	liabilities$	220	$	233	Net	lease	cost	for	the	years	ended	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)Classification20202019Operating	lease	costNet	occupancy$	50	$	47	Short-term	lease	costNet	occupancy	1		1	Sublease	incomeNet	occupancy	(2)		(3)	Net	lease	cost$	49	$	45	Maturity	of	lease	liabilities	at	December	31,	2020	are	as	follows:(dollar	amounts	in	millions)Total2021$	43	2022	42	2023	37	2024	32	2025	26	Thereafter	77	Total	lease	payments$	257	Less:	Interest	(37)	Total	lease	liabilities$	220	Additional	supplemental	information	related	to	the	Company’s	operating	leases	as	of	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)20202019Cash	paid	for	amounts	included	in	the	measurement	of	lease	liabilities	for	Operating	cash	flows$	(53)	$	(54)	Right-of-use	assets	obtained	in	exchange	for	lease	obligations	for	Operating	leases	23		40	Weighted-average	remaining	lease	term	(years)	for	Operating	leases7.177.31Weighted-average	discount	rate	for	Operating	leases	4.26	%	4.56	%11.	SHORT-TERM	BORROWINGSBorrowings	with	original	maturities	of	one	year	or	less	are	classified	as	short-term	and	were	comprised	of	the	following	at	December	31,	2020	and	2019:		At	December	31,(dollar	amounts	in	millions)20202019Federal	funds	purchased	and	securities	sold	under	agreements	to	repurchase$	71	$	1,041	Federal	Home	Loan	Bank	advances	—		1,500	Other	borrowings	112		65	Total	short-term	borrowings$	183	$	2,606	138					Huntington	Bancshares	Incorporated12.LONG-TERM	DEBTHuntington’s	long-term	debt	consisted	of	the	following:At	December	31,(dollar	amounts	in	millions)20202019The	Parent	Company:Senior	Notes:3.19%	Huntington	Bancshares	Incorporated	medium-term	notes	due	2021$	802	$	993	2.33%	Huntington	Bancshares	Incorporated	senior	notes	due	2022699	972	2.67%	Huntington	Bancshares	Incorporated	senior	notes	due	2024838	798	4.05%	Huntington	Bancshares	Incorporated	senior	notes	due	2025553	528	2.60%	Huntington	Bancshares	Incorporated	senior	notes	due	2030743	—	Subordinated	Notes:7.00%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2020—	305	3.55%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2023256	247	Huntington	Capital	I	Trust	Preferred	0.94%	junior	subordinated	debentures	due	2027	(1)69	70	Huntington	Capital	II	Trust	Preferred	0.86%	junior	subordinated	debentures	due	2028	(2)32	32	Sky	Financial	Capital	Trust	III	1.64%	junior	subordinated	debentures	due	2036	(3)72	72	Sky	Financial	Capital	Trust	IV	1.64%	junior	subordinated	debentures	due	2036	(3)74	74	Camco	Financial	Statutory	Trust	I	1.57%	due	2037	(4)4	4	Total	notes	issued	by	the	parent4,142	4,095	The	Bank:Senior	Notes:2.47%	Huntington	National	Bank	senior	notes	due	2020—	699	2.42%	Huntington	National	Bank	senior	notes	due	2020	(5)—	300	2.43%	Huntington	National	Bank	senior	notes	due	2020—	500	2.97%	Huntington	National	Bank	senior	notes	due	2020—	499	0.79%	Huntington	National	Bank	senior	notes	due	2021	(6)298	299	3.33%	Huntington	National	Bank	senior	notes	due	2021752	759	2.55%	Huntington	National	Bank	senior	notes	due	2022710	691	3.16%	Huntington	National	Bank	senior	notes	due	2022511	507	1.83%	Huntington	National	Bank	senior	notes	due	2023489	—	3.60%	Huntington	National	Bank	senior	notes	due	2023773	778	Subordinated	Notes:3.86%		Huntington	National	Bank	subordinated	notes	due	2026233	231	Total	notes	issued	by	the	bank3,766	5,263	FHLB	Advances:1.54%	weighted	average	rate,	varying	maturities	greater	than	one	year3	5	Other:Huntington	Technology	Finance	nonrecourse	debt,	3.63%	weighted	average	interest	rate,	varying	maturities266	312	2.12%	Huntington	Preferred	Capital	II	-	Class	F	securities	(7)75	74	2.12%	Huntington	Preferred	Capital	II	-	Class	G	securities	(7)50	50	2.24%	Huntington	Preferred	Capital	II	-	Class	I	securities	(8)50	50	Total	long-term	debt$	8,352	$	9,849	(1)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.70%(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.625%(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.40%(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.33%(5)Variable	effective	rate	at	December	31,	2019,	based	on	three-month	LIBOR	+0.51%	(6)Variable	effective	rate	at	December	31,	2020,	based	on three-month	LIBOR		+0.55%(7)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.88%(8)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+2.00%2020	Form	10-K					139Net	lease	assets	and	liabilities	at	December	31,	2020	and	2019	are	as	follows:At	December	31,(dollar	amounts	in	millions)Classification20202019AssetsOperating	lease	assetsOther	assets$	199	$	210	LiabilitiesLease	liabilitiesOther	liabilities$	220	$	233	Net	lease	cost	for	the	years	ended	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)Classification20202019Operating	lease	costNet	occupancy$	50	$	47	Short-term	lease	costNet	occupancy	1		1	Sublease	incomeNet	occupancy	(2)		(3)	Net	lease	cost$	49	$	45	Maturity	of	lease	liabilities	at	December	31,	2020	are	as	follows:(dollar	amounts	in	millions)Total2021$	43	2022	42	2023	37	2024	32	2025	26	Thereafter	77	Total	lease	payments$	257	Less:	Interest	(37)	Total	lease	liabilities$	220	Additional	supplemental	information	related	to	the	Company’s	operating	leases	as	of	December	31,	2020	and	2019	are	as	follows:Year	Ended	December	31,(dollar	amounts	in	millions)20202019Cash	paid	for	amounts	included	in	the	measurement	of	lease	liabilities	for	Operating	cash	flows$	(53)	$	(54)	Right-of-use	assets	obtained	in	exchange	for	lease	obligations	for	Operating	leases	23		40	Weighted-average	remaining	lease	term	(years)	for	Operating	leases7.177.31Weighted-average	discount	rate	for	Operating	leases	4.26	%	4.56	%11.	SHORT-TERM	BORROWINGSBorrowings	with	original	maturities	of	one	year	or	less	are	classified	as	short-term	and	were	comprised	of	the	following	at	December	31,	2020	and	2019:		At	December	31,(dollar	amounts	in	millions)20202019Federal	funds	purchased	and	securities	sold	under	agreements	to	repurchase$	71	$	1,041	Federal	Home	Loan	Bank	advances	—		1,500	Other	borrowings	112		65	Total	short-term	borrowings$	183	$	2,606	138					Huntington	Bancshares	Incorporated12.LONG-TERM	DEBTHuntington’s	long-term	debt	consisted	of	the	following:At	December	31,(dollar	amounts	in	millions)20202019The	Parent	Company:Senior	Notes:3.19%	Huntington	Bancshares	Incorporated	medium-term	notes	due	2021$	802	$	993	2.33%	Huntington	Bancshares	Incorporated	senior	notes	due	2022699	972	2.67%	Huntington	Bancshares	Incorporated	senior	notes	due	2024838	798	4.05%	Huntington	Bancshares	Incorporated	senior	notes	due	2025553	528	2.60%	Huntington	Bancshares	Incorporated	senior	notes	due	2030743	—	Subordinated	Notes:7.00%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2020—	305	3.55%	Huntington	Bancshares	Incorporated	subordinated	notes	due	2023256	247	Huntington	Capital	I	Trust	Preferred	0.94%	junior	subordinated	debentures	due	2027	(1)69	70	Huntington	Capital	II	Trust	Preferred	0.86%	junior	subordinated	debentures	due	2028	(2)32	32	Sky	Financial	Capital	Trust	III	1.64%	junior	subordinated	debentures	due	2036	(3)72	72	Sky	Financial	Capital	Trust	IV	1.64%	junior	subordinated	debentures	due	2036	(3)74	74	Camco	Financial	Statutory	Trust	I	1.57%	due	2037	(4)4	4	Total	notes	issued	by	the	parent4,142	4,095	The	Bank:Senior	Notes:2.47%	Huntington	National	Bank	senior	notes	due	2020—	699	2.42%	Huntington	National	Bank	senior	notes	due	2020	(5)—	300	2.43%	Huntington	National	Bank	senior	notes	due	2020—	500	2.97%	Huntington	National	Bank	senior	notes	due	2020—	499	0.79%	Huntington	National	Bank	senior	notes	due	2021	(6)298	299	3.33%	Huntington	National	Bank	senior	notes	due	2021752	759	2.55%	Huntington	National	Bank	senior	notes	due	2022710	691	3.16%	Huntington	National	Bank	senior	notes	due	2022511	507	1.83%	Huntington	National	Bank	senior	notes	due	2023489	—	3.60%	Huntington	National	Bank	senior	notes	due	2023773	778	Subordinated	Notes:3.86%		Huntington	National	Bank	subordinated	notes	due	2026233	231	Total	notes	issued	by	the	bank3,766	5,263	FHLB	Advances:1.54%	weighted	average	rate,	varying	maturities	greater	than	one	year3	5	Other:Huntington	Technology	Finance	nonrecourse	debt,	3.63%	weighted	average	interest	rate,	varying	maturities266	312	2.12%	Huntington	Preferred	Capital	II	-	Class	F	securities	(7)75	74	2.12%	Huntington	Preferred	Capital	II	-	Class	G	securities	(7)50	50	2.24%	Huntington	Preferred	Capital	II	-	Class	I	securities	(8)50	50	Total	long-term	debt$	8,352	$	9,849	(1)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.70%(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+0.625%(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.40%(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.33%(5)Variable	effective	rate	at	December	31,	2019,	based	on	three-month	LIBOR	+0.51%	(6)Variable	effective	rate	at	December	31,	2020,	based	on three-month	LIBOR		+0.55%(7)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+1.88%(8)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+2.00%2020	Form	10-K					139Amounts	above	are	net	of	unamortized	discounts	and	adjustments	related	to	hedging	with	derivative	financial	instruments.		We	use	interest	rate	swaps	to	hedge	interest	rate	risk	of	certain	fixed-rate	debt	by	converting	the	debt	to	a	variable	rate.		See	Note	21	-	“Derivative	Financial	Instruments“	for	more	information	regarding	such	financial	instruments.The	following	table	presents	senior	notes	issued	during	2020:	Date	of	IssuanceIssuerAmount%	of	face	valueInterest	RateTermMaturityJanuary	2020Bank$	500		million	99.916	%	1.80	%fixedFebruary	3,	2023January	2020Parent	750		million	99.597		2.55	fixedFebruary	4,	2030During	2020,	Huntington	retired	$500	million	of	senior	notes,	which	resulted	in	net	pre-tax	loss	of	$7	million		These	transactions	have	been	recorded	as	loss	on	early	extinguishment	of	debt,	and	reflected	in	other	noninterest	expense,	in	the	Consolidated	Income	Statement.Long-term	debt	maturities	for	the	next	five	years	and	thereafter	are	as	follows:(dollar	amounts	in	millions)20212022202320242025ThereafterTotalThe	Parent	Company:Senior	notes$	800	$	700	$	—	$	800	$	500	$	750	$	3,550	Subordinated	notes	—		—		250		—		—		253		503	The	Bank:Senior	notes	1,044		1,198		1,202		—		—		—		3,444	Subordinated	notes	—		—		—		—		—		250		250	FHLB	Advances	—		1		1		—		—		1		3	Other	22		141		136		103		39		—		441	Total$	1,866	$	2,040	$	1,589	$	903	$	539	$	1,254	$	8,191	These	maturities	are	based	upon	the	par	values	of	the	long-term	debt.The	terms	of	certain	long-term	debt	obligations	contain	various	restrictive	covenants	including	limitations	on	the	acquisition	of	additional	debt,	dividend	payments,	and	the	disposition	of	subsidiaries.		As	of	December	31,	2020,	Huntington	was	in	compliance	with	all	such	covenants.13.	OTHER	COMPREHENSIVE	INCOMEThe	components	of	Huntington’s	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018,	were	as	follows:2020Tax	(expense)(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	235	$	(52)	$	183	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	42		(9)		33	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	277		(61)		216	Net	change	in	fair	value	on	cash	flow	hedges	302		(68)		234	Net	change	in	pension	and	other	post-retirement	obligations	(3)		1		(2)	Total	other	comprehensive	income	(loss)$	576	$	(128)	$	448		2019		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	403	$	(89)	$	314	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	26		(5)		21	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	429		(94)		335	Net	change	in	fair	value	on	cash	flow	hedges	26		(3)		23	Net	change	in	pension	and	other	post-retirement	obligations	(7)		2		(5)	Total	other	comprehensive	income	(loss)$	448	$	(95)	$	353	140					Huntington	Bancshares	Incorporated	2018		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	(151)	$	35	$	(116)	Less:	Reclassification	adjustment	for	net	gains	(losses)	included	in	net	income	41		(9)		32	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	debt	securities	(110)		26		(84)	Net	change	in	pension	and	post-retirement	obligations	4		—		4	Total	other	comprehensive	income	(loss)$	(106)	$	26	$	(80)	Activity	in	accumulated	OCI	for	the	years	ended	December	31,	2020	and	2019	were	as	follows:(dollar	amounts	in	millions)Unrealizedgains	(losses)	ondebtsecurities	(1)Change	in	fair	value	related	to	cash	flow	hedgesUnrealizedgains	(losses)	forpension	and	other	post-retirementobligationsTotalDecember	31,	2018$	(363)	$	—	$	(246)	$	(609)	Other	comprehensive	income	before	reclassifications	314		23		—		337	Amounts	reclassified	from	accumulated	OCI	to	earnings	21		—		(5)		16	Period	change	335		23		(5)		353	December	31,	2019	(28)		23		(251)		(256)	Other	comprehensive	income	before	reclassifications	183		234		—		417	Amounts	reclassified	from	accumulated	OCI	to	earnings	33		—		(2)		31	Period	change	216		234		(2)		448	December	31,	2020$	188	$	257	$	(253)	$	192	(1)AOCI	amounts	at	December	31,	2020,	2019,	and	2018	include	$69	million,	$121	million,	and	$137	million,	respectively,	net	of	unrealized	losses	on	securities	transferred	from	the	available-for-sale	securities	portfolio	to	the	held-to-maturity	securities	portfolio.		The	net	unrealized	losses	will	be	recognized	in	earnings	over	the	remaining	life	of	the	security	using	the	effective	interest	method.14.	SHAREHOLDERS’	EQUITYThe	following	is	a	summary	of	Huntington’s	non-cumulative,	non-voting,	perpetual	preferred	stock	outstanding	as	of	December	31,	2020.(dollar	amounts	in	millions,	share	amounts	in	thousands)SeriesIssuance	DateTotal	Shares	OutstandingCarrying	AmountDividend	RateEarliest	Redemption	DateSeries	B12/28/2011	35,500	$	23	3-mo.	LIBOR	+	270	bps1/15/2017Series	D3/21/2016	400,000		386		6.25	%4/15/2021Series	D5/5/2016	200,000		199		6.25	4/15/2021Series	C8/16/2016	100,000		100		5.875	10/15/2021Series	E2/27/2018	5,000		495		5.70	4/15/2023Series	F5/27/2020	5,000		494		5.625	7/15/2030Series	G8/3/2020	5,000		494		4.45	10/15/2027Total	750,500	$	2,191	Series	B,	D,	and	C	of	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$1,000,	plus	any	declared	and	unpaid	dividends.		Series	E	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$100,000,	plus	any	declared	and	unpaid	dividends.		All	preferred	stock	has	no	stated	maturity	and	redemption	is	solely	at	the	option	of	the	Company.		Under	current	rules,	any	redemption	of	the	preferred	stock	is	subject	to	prior	approval	of	the	FRB.Preferred	F	Stock	issued	and	outstandingDuring	the	2020	second	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	5.625%	Series	F	Non-Cumulative	Perpetual	Preferred	Stock	(Series	F	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	F	Preferred	Stock	(including	dividend,	voting,	2020	Form	10-K					141Amounts	above	are	net	of	unamortized	discounts	and	adjustments	related	to	hedging	with	derivative	financial	instruments.		We	use	interest	rate	swaps	to	hedge	interest	rate	risk	of	certain	fixed-rate	debt	by	converting	the	debt	to	a	variable	rate.		See	Note	21	-	“Derivative	Financial	Instruments“	for	more	information	regarding	such	financial	instruments.The	following	table	presents	senior	notes	issued	during	2020:	Date	of	IssuanceIssuerAmount%	of	face	valueInterest	RateTermMaturityJanuary	2020Bank$	500		million	99.916	%	1.80	%fixedFebruary	3,	2023January	2020Parent	750		million	99.597		2.55	fixedFebruary	4,	2030During	2020,	Huntington	retired	$500	million	of	senior	notes,	which	resulted	in	net	pre-tax	loss	of	$7	million		These	transactions	have	been	recorded	as	loss	on	early	extinguishment	of	debt,	and	reflected	in	other	noninterest	expense,	in	the	Consolidated	Income	Statement.Long-term	debt	maturities	for	the	next	five	years	and	thereafter	are	as	follows:(dollar	amounts	in	millions)20212022202320242025ThereafterTotalThe	Parent	Company:Senior	notes$	800	$	700	$	—	$	800	$	500	$	750	$	3,550	Subordinated	notes	—		—		250		—		—		253		503	The	Bank:Senior	notes	1,044		1,198		1,202		—		—		—		3,444	Subordinated	notes	—		—		—		—		—		250		250	FHLB	Advances	—		1		1		—		—		1		3	Other	22		141		136		103		39		—		441	Total$	1,866	$	2,040	$	1,589	$	903	$	539	$	1,254	$	8,191	These	maturities	are	based	upon	the	par	values	of	the	long-term	debt.The	terms	of	certain	long-term	debt	obligations	contain	various	restrictive	covenants	including	limitations	on	the	acquisition	of	additional	debt,	dividend	payments,	and	the	disposition	of	subsidiaries.		As	of	December	31,	2020,	Huntington	was	in	compliance	with	all	such	covenants.13.	OTHER	COMPREHENSIVE	INCOMEThe	components	of	Huntington’s	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018,	were	as	follows:2020Tax	(expense)(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	235	$	(52)	$	183	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	42		(9)		33	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	277		(61)		216	Net	change	in	fair	value	on	cash	flow	hedges	302		(68)		234	Net	change	in	pension	and	other	post-retirement	obligations	(3)		1		(2)	Total	other	comprehensive	income	(loss)$	576	$	(128)	$	448		2019		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	403	$	(89)	$	314	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	26		(5)		21	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	429		(94)		335	Net	change	in	fair	value	on	cash	flow	hedges	26		(3)		23	Net	change	in	pension	and	other	post-retirement	obligations	(7)		2		(5)	Total	other	comprehensive	income	(loss)$	448	$	(95)	$	353	140					Huntington	Bancshares	Incorporated	2018		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	(151)	$	35	$	(116)	Less:	Reclassification	adjustment	for	net	gains	(losses)	included	in	net	income	41		(9)		32	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	debt	securities	(110)		26		(84)	Net	change	in	pension	and	post-retirement	obligations	4		—		4	Total	other	comprehensive	income	(loss)$	(106)	$	26	$	(80)	Activity	in	accumulated	OCI	for	the	years	ended	December	31,	2020	and	2019	were	as	follows:(dollar	amounts	in	millions)Unrealizedgains	(losses)	ondebtsecurities	(1)Change	in	fair	value	related	to	cash	flow	hedgesUnrealizedgains	(losses)	forpension	and	other	post-retirementobligationsTotalDecember	31,	2018$	(363)	$	—	$	(246)	$	(609)	Other	comprehensive	income	before	reclassifications	314		23		—		337	Amounts	reclassified	from	accumulated	OCI	to	earnings	21		—		(5)		16	Period	change	335		23		(5)		353	December	31,	2019	(28)		23		(251)		(256)	Other	comprehensive	income	before	reclassifications	183		234		—		417	Amounts	reclassified	from	accumulated	OCI	to	earnings	33		—		(2)		31	Period	change	216		234		(2)		448	December	31,	2020$	188	$	257	$	(253)	$	192	(1)AOCI	amounts	at	December	31,	2020,	2019,	and	2018	include	$69	million,	$121	million,	and	$137	million,	respectively,	net	of	unrealized	losses	on	securities	transferred	from	the	available-for-sale	securities	portfolio	to	the	held-to-maturity	securities	portfolio.		The	net	unrealized	losses	will	be	recognized	in	earnings	over	the	remaining	life	of	the	security	using	the	effective	interest	method.14.	SHAREHOLDERS’	EQUITYThe	following	is	a	summary	of	Huntington’s	non-cumulative,	non-voting,	perpetual	preferred	stock	outstanding	as	of	December	31,	2020.(dollar	amounts	in	millions,	share	amounts	in	thousands)SeriesIssuance	DateTotal	Shares	OutstandingCarrying	AmountDividend	RateEarliest	Redemption	DateSeries	B12/28/2011	35,500	$	23	3-mo.	LIBOR	+	270	bps1/15/2017Series	D3/21/2016	400,000		386		6.25	%4/15/2021Series	D5/5/2016	200,000		199		6.25	4/15/2021Series	C8/16/2016	100,000		100		5.875	10/15/2021Series	E2/27/2018	5,000		495		5.70	4/15/2023Series	F5/27/2020	5,000		494		5.625	7/15/2030Series	G8/3/2020	5,000		494		4.45	10/15/2027Total	750,500	$	2,191	Series	B,	D,	and	C	of	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$1,000,	plus	any	declared	and	unpaid	dividends.		Series	E	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$100,000,	plus	any	declared	and	unpaid	dividends.		All	preferred	stock	has	no	stated	maturity	and	redemption	is	solely	at	the	option	of	the	Company.		Under	current	rules,	any	redemption	of	the	preferred	stock	is	subject	to	prior	approval	of	the	FRB.Preferred	F	Stock	issued	and	outstandingDuring	the	2020	second	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	5.625%	Series	F	Non-Cumulative	Perpetual	Preferred	Stock	(Series	F	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	F	Preferred	Stock	(including	dividend,	voting,	2020	Form	10-K					141Amounts	above	are	net	of	unamortized	discounts	and	adjustments	related	to	hedging	with	derivative	financial	instruments.		We	use	interest	rate	swaps	to	hedge	interest	rate	risk	of	certain	fixed-rate	debt	by	converting	the	debt	to	a	variable	rate.		See	Note	21	-	“Derivative	Financial	Instruments“	for	more	information	regarding	such	financial	instruments.The	following	table	presents	senior	notes	issued	during	2020:	Date	of	IssuanceIssuerAmount%	of	face	valueInterest	RateTermMaturityJanuary	2020Bank$	500		million	99.916	%	1.80	%fixedFebruary	3,	2023January	2020Parent	750		million	99.597		2.55	fixedFebruary	4,	2030During	2020,	Huntington	retired	$500	million	of	senior	notes,	which	resulted	in	net	pre-tax	loss	of	$7	million		These	transactions	have	been	recorded	as	loss	on	early	extinguishment	of	debt,	and	reflected	in	other	noninterest	expense,	in	the	Consolidated	Income	Statement.Long-term	debt	maturities	for	the	next	five	years	and	thereafter	are	as	follows:(dollar	amounts	in	millions)20212022202320242025ThereafterTotalThe	Parent	Company:Senior	notes$	800	$	700	$	—	$	800	$	500	$	750	$	3,550	Subordinated	notes	—		—		250		—		—		253		503	The	Bank:Senior	notes	1,044		1,198		1,202		—		—		—		3,444	Subordinated	notes	—		—		—		—		—		250		250	FHLB	Advances	—		1		1		—		—		1		3	Other	22		141		136		103		39		—		441	Total$	1,866	$	2,040	$	1,589	$	903	$	539	$	1,254	$	8,191	These	maturities	are	based	upon	the	par	values	of	the	long-term	debt.The	terms	of	certain	long-term	debt	obligations	contain	various	restrictive	covenants	including	limitations	on	the	acquisition	of	additional	debt,	dividend	payments,	and	the	disposition	of	subsidiaries.		As	of	December	31,	2020,	Huntington	was	in	compliance	with	all	such	covenants.13.	OTHER	COMPREHENSIVE	INCOMEThe	components	of	Huntington’s	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018,	were	as	follows:2020Tax	(expense)(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	235	$	(52)	$	183	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	42		(9)		33	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	277		(61)		216	Net	change	in	fair	value	on	cash	flow	hedges	302		(68)		234	Net	change	in	pension	and	other	post-retirement	obligations	(3)		1		(2)	Total	other	comprehensive	income	(loss)$	576	$	(128)	$	448		2019		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	403	$	(89)	$	314	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	26		(5)		21	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	429		(94)		335	Net	change	in	fair	value	on	cash	flow	hedges	26		(3)		23	Net	change	in	pension	and	other	post-retirement	obligations	(7)		2		(5)	Total	other	comprehensive	income	(loss)$	448	$	(95)	$	353	140					Huntington	Bancshares	Incorporated	2018		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	(151)	$	35	$	(116)	Less:	Reclassification	adjustment	for	net	gains	(losses)	included	in	net	income	41		(9)		32	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	debt	securities	(110)		26		(84)	Net	change	in	pension	and	post-retirement	obligations	4		—		4	Total	other	comprehensive	income	(loss)$	(106)	$	26	$	(80)	Activity	in	accumulated	OCI	for	the	years	ended	December	31,	2020	and	2019	were	as	follows:(dollar	amounts	in	millions)Unrealizedgains	(losses)	ondebtsecurities	(1)Change	in	fair	value	related	to	cash	flow	hedgesUnrealizedgains	(losses)	forpension	and	other	post-retirementobligationsTotalDecember	31,	2018$	(363)	$	—	$	(246)	$	(609)	Other	comprehensive	income	before	reclassifications	314		23		—		337	Amounts	reclassified	from	accumulated	OCI	to	earnings	21		—		(5)		16	Period	change	335		23		(5)		353	December	31,	2019	(28)		23		(251)		(256)	Other	comprehensive	income	before	reclassifications	183		234		—		417	Amounts	reclassified	from	accumulated	OCI	to	earnings	33		—		(2)		31	Period	change	216		234		(2)		448	December	31,	2020$	188	$	257	$	(253)	$	192	(1)AOCI	amounts	at	December	31,	2020,	2019,	and	2018	include	$69	million,	$121	million,	and	$137	million,	respectively,	net	of	unrealized	losses	on	securities	transferred	from	the	available-for-sale	securities	portfolio	to	the	held-to-maturity	securities	portfolio.		The	net	unrealized	losses	will	be	recognized	in	earnings	over	the	remaining	life	of	the	security	using	the	effective	interest	method.14.	SHAREHOLDERS’	EQUITYThe	following	is	a	summary	of	Huntington’s	non-cumulative,	non-voting,	perpetual	preferred	stock	outstanding	as	of	December	31,	2020.(dollar	amounts	in	millions,	share	amounts	in	thousands)SeriesIssuance	DateTotal	Shares	OutstandingCarrying	AmountDividend	RateEarliest	Redemption	DateSeries	B12/28/2011	35,500	$	23	3-mo.	LIBOR	+	270	bps1/15/2017Series	D3/21/2016	400,000		386		6.25	%4/15/2021Series	D5/5/2016	200,000		199		6.25	4/15/2021Series	C8/16/2016	100,000		100		5.875	10/15/2021Series	E2/27/2018	5,000		495		5.70	4/15/2023Series	F5/27/2020	5,000		494		5.625	7/15/2030Series	G8/3/2020	5,000		494		4.45	10/15/2027Total	750,500	$	2,191	Series	B,	D,	and	C	of	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$1,000,	plus	any	declared	and	unpaid	dividends.		Series	E	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$100,000,	plus	any	declared	and	unpaid	dividends.		All	preferred	stock	has	no	stated	maturity	and	redemption	is	solely	at	the	option	of	the	Company.		Under	current	rules,	any	redemption	of	the	preferred	stock	is	subject	to	prior	approval	of	the	FRB.Preferred	F	Stock	issued	and	outstandingDuring	the	2020	second	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	5.625%	Series	F	Non-Cumulative	Perpetual	Preferred	Stock	(Series	F	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	F	Preferred	Stock	(including	dividend,	voting,	2020	Form	10-K					141Amounts	above	are	net	of	unamortized	discounts	and	adjustments	related	to	hedging	with	derivative	financial	instruments.		We	use	interest	rate	swaps	to	hedge	interest	rate	risk	of	certain	fixed-rate	debt	by	converting	the	debt	to	a	variable	rate.		See	Note	21	-	“Derivative	Financial	Instruments“	for	more	information	regarding	such	financial	instruments.The	following	table	presents	senior	notes	issued	during	2020:	Date	of	IssuanceIssuerAmount%	of	face	valueInterest	RateTermMaturityJanuary	2020Bank$	500		million	99.916	%	1.80	%fixedFebruary	3,	2023January	2020Parent	750		million	99.597		2.55	fixedFebruary	4,	2030During	2020,	Huntington	retired	$500	million	of	senior	notes,	which	resulted	in	net	pre-tax	loss	of	$7	million		These	transactions	have	been	recorded	as	loss	on	early	extinguishment	of	debt,	and	reflected	in	other	noninterest	expense,	in	the	Consolidated	Income	Statement.Long-term	debt	maturities	for	the	next	five	years	and	thereafter	are	as	follows:(dollar	amounts	in	millions)20212022202320242025ThereafterTotalThe	Parent	Company:Senior	notes$	800	$	700	$	—	$	800	$	500	$	750	$	3,550	Subordinated	notes	—		—		250		—		—		253		503	The	Bank:Senior	notes	1,044		1,198		1,202		—		—		—		3,444	Subordinated	notes	—		—		—		—		—		250		250	FHLB	Advances	—		1		1		—		—		1		3	Other	22		141		136		103		39		—		441	Total$	1,866	$	2,040	$	1,589	$	903	$	539	$	1,254	$	8,191	These	maturities	are	based	upon	the	par	values	of	the	long-term	debt.The	terms	of	certain	long-term	debt	obligations	contain	various	restrictive	covenants	including	limitations	on	the	acquisition	of	additional	debt,	dividend	payments,	and	the	disposition	of	subsidiaries.		As	of	December	31,	2020,	Huntington	was	in	compliance	with	all	such	covenants.13.	OTHER	COMPREHENSIVE	INCOMEThe	components	of	Huntington’s	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018,	were	as	follows:2020Tax	(expense)(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	235	$	(52)	$	183	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	42		(9)		33	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	277		(61)		216	Net	change	in	fair	value	on	cash	flow	hedges	302		(68)		234	Net	change	in	pension	and	other	post-retirement	obligations	(3)		1		(2)	Total	other	comprehensive	income	(loss)$	576	$	(128)	$	448		2019		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	403	$	(89)	$	314	Less:	Reclassification	adjustment	for	realized	net	losses	(gains)	included	in	net	income	26		(5)		21	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	securities	429		(94)		335	Net	change	in	fair	value	on	cash	flow	hedges	26		(3)		23	Net	change	in	pension	and	other	post-retirement	obligations	(7)		2		(5)	Total	other	comprehensive	income	(loss)$	448	$	(95)	$	353	140					Huntington	Bancshares	Incorporated	2018		Tax	(expense)	(dollar	amounts	in	millions)PretaxBenefitAfter-taxUnrealized	gains	(losses)	on	available-for-sale	securities	arising	during	the	period$	(151)	$	35	$	(116)	Less:	Reclassification	adjustment	for	net	gains	(losses)	included	in	net	income	41		(9)		32	Net	change	in	unrealized	holding	gains	(losses)	on	available-for-sale	debt	securities	(110)		26		(84)	Net	change	in	pension	and	post-retirement	obligations	4		—		4	Total	other	comprehensive	income	(loss)$	(106)	$	26	$	(80)	Activity	in	accumulated	OCI	for	the	years	ended	December	31,	2020	and	2019	were	as	follows:(dollar	amounts	in	millions)Unrealizedgains	(losses)	ondebtsecurities	(1)Change	in	fair	value	related	to	cash	flow	hedgesUnrealizedgains	(losses)	forpension	and	other	post-retirementobligationsTotalDecember	31,	2018$	(363)	$	—	$	(246)	$	(609)	Other	comprehensive	income	before	reclassifications	314		23		—		337	Amounts	reclassified	from	accumulated	OCI	to	earnings	21		—		(5)		16	Period	change	335		23		(5)		353	December	31,	2019	(28)		23		(251)		(256)	Other	comprehensive	income	before	reclassifications	183		234		—		417	Amounts	reclassified	from	accumulated	OCI	to	earnings	33		—		(2)		31	Period	change	216		234		(2)		448	December	31,	2020$	188	$	257	$	(253)	$	192	(1)AOCI	amounts	at	December	31,	2020,	2019,	and	2018	include	$69	million,	$121	million,	and	$137	million,	respectively,	net	of	unrealized	losses	on	securities	transferred	from	the	available-for-sale	securities	portfolio	to	the	held-to-maturity	securities	portfolio.		The	net	unrealized	losses	will	be	recognized	in	earnings	over	the	remaining	life	of	the	security	using	the	effective	interest	method.14.	SHAREHOLDERS’	EQUITYThe	following	is	a	summary	of	Huntington’s	non-cumulative,	non-voting,	perpetual	preferred	stock	outstanding	as	of	December	31,	2020.(dollar	amounts	in	millions,	share	amounts	in	thousands)SeriesIssuance	DateTotal	Shares	OutstandingCarrying	AmountDividend	RateEarliest	Redemption	DateSeries	B12/28/2011	35,500	$	23	3-mo.	LIBOR	+	270	bps1/15/2017Series	D3/21/2016	400,000		386		6.25	%4/15/2021Series	D5/5/2016	200,000		199		6.25	4/15/2021Series	C8/16/2016	100,000		100		5.875	10/15/2021Series	E2/27/2018	5,000		495		5.70	4/15/2023Series	F5/27/2020	5,000		494		5.625	7/15/2030Series	G8/3/2020	5,000		494		4.45	10/15/2027Total	750,500	$	2,191	Series	B,	D,	and	C	of	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$1,000,	plus	any	declared	and	unpaid	dividends.		Series	E	preferred	stock	has	a	liquidation	value	and	redemption	price	per	share	of	$100,000,	plus	any	declared	and	unpaid	dividends.		All	preferred	stock	has	no	stated	maturity	and	redemption	is	solely	at	the	option	of	the	Company.		Under	current	rules,	any	redemption	of	the	preferred	stock	is	subject	to	prior	approval	of	the	FRB.Preferred	F	Stock	issued	and	outstandingDuring	the	2020	second	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	5.625%	Series	F	Non-Cumulative	Perpetual	Preferred	Stock	(Series	F	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	F	Preferred	Stock	(including	dividend,	voting,	2020	Form	10-K					141redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	F	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	F	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	5.625%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	which	commenced	on	October	15,	2020.The	Series	F	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	F	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	July	15,	2030	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	F	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	F	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	F	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	F	Preferred	Stock	or	the	depositary	shares.	Preferred	G	Stock	issued	and	outstandingDuring	the	2020	third	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	4.450%	Series	G	Non-Cumulative	Perpetual	Preferred	Stock	(Series	G	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	G	Preferred	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	G	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	G	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.450%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	January	15,	2021.The	Series	G	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	G	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	October	15,	2027	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	G	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	G	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	G	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	G	Preferred	Stock	or	the	depositary	shares.	Preferred	H	Stock	issued	and	outstandingOn	February	2,	2021,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).		Each	holder	of	a	depositary	share,	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Preferred	H	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$16	million	related	to	the	issuance	of	the	Preferred	H	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Preferred	H	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.50%	per	year	on	the	liquidation	preference	of	$1,000	per	share,	equivalent	to	$25	142					Huntington	Bancshares	Incorporatedper	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	July	15,	2021,	or	the	next	business	day	if	any	such	day	is	not	a	business	day.The	Preferred	H	Stock	is	perpetual	and	has	no	maturity	date.	Huntington	may	redeem	the	Preferred	H	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	April	15,	2026	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$1,000	per	share	(equivalent	to	$25	per	depositary	share),	plus	any	declared	and	unpaid	dividends	and,	in	the	case	of	a	redemption	following	a	regulatory	capital	treatment	event,	the	pro-rated	portion	of	dividends,	whether	or	not	declared,	for	the	dividend	period	in	which	such	redemption	occurs.		If	Huntington	redeems	the	Preferred	H	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Preferred	H	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Preferred	H	Stock	or	the	depositary	shares.		Any	redemption	of	the	Preferred	H	Stock	is	subject	to	Huntington's	receipt	of	any	required	prior	approval	by	the	Board	of	Governors	of	the	Federal	Reserve	System.The	following	table	presents	the	dividends	declared	for	each	series	of	Preferred	shares		for	the	years	ended	December	31,	2020,	2019,	and	2018:(amounts	in	millions,	except	per	share	data)Cash	Dividend	Declared	Per	SharePreferred	SeriesAmount	($)Year	Ended	December	31,	2020Series	B$	35.91	$	(1)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	Series	F	3,468.75		(17)	Series	G	1,915.97		(10)	$	(100)	Year	Ended	December	31,	2019Series	B$	51.22	$	(2)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	$	(74)	Year	Ended	December	31,	2018Series	B$	49.11	$	(3)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	4,892.50		(24)	$	(70)	15.	EARNINGS	PER	SHAREBasic	earnings	per	share	is	the	amount	of	earnings	(adjusted	for	dividends	declared	on	preferred	stock)	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,	and	distributions	from	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.		2020	Form	10-K					143redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	F	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	F	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	5.625%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	which	commenced	on	October	15,	2020.The	Series	F	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	F	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	July	15,	2030	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	F	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	F	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	F	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	F	Preferred	Stock	or	the	depositary	shares.	Preferred	G	Stock	issued	and	outstandingDuring	the	2020	third	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	4.450%	Series	G	Non-Cumulative	Perpetual	Preferred	Stock	(Series	G	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	G	Preferred	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	G	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	G	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.450%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	January	15,	2021.The	Series	G	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	G	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	October	15,	2027	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	G	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	G	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	G	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	G	Preferred	Stock	or	the	depositary	shares.	Preferred	H	Stock	issued	and	outstandingOn	February	2,	2021,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).		Each	holder	of	a	depositary	share,	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Preferred	H	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$16	million	related	to	the	issuance	of	the	Preferred	H	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Preferred	H	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.50%	per	year	on	the	liquidation	preference	of	$1,000	per	share,	equivalent	to	$25	142					Huntington	Bancshares	Incorporatedper	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	July	15,	2021,	or	the	next	business	day	if	any	such	day	is	not	a	business	day.The	Preferred	H	Stock	is	perpetual	and	has	no	maturity	date.	Huntington	may	redeem	the	Preferred	H	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	April	15,	2026	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$1,000	per	share	(equivalent	to	$25	per	depositary	share),	plus	any	declared	and	unpaid	dividends	and,	in	the	case	of	a	redemption	following	a	regulatory	capital	treatment	event,	the	pro-rated	portion	of	dividends,	whether	or	not	declared,	for	the	dividend	period	in	which	such	redemption	occurs.		If	Huntington	redeems	the	Preferred	H	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Preferred	H	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Preferred	H	Stock	or	the	depositary	shares.		Any	redemption	of	the	Preferred	H	Stock	is	subject	to	Huntington's	receipt	of	any	required	prior	approval	by	the	Board	of	Governors	of	the	Federal	Reserve	System.The	following	table	presents	the	dividends	declared	for	each	series	of	Preferred	shares		for	the	years	ended	December	31,	2020,	2019,	and	2018:(amounts	in	millions,	except	per	share	data)Cash	Dividend	Declared	Per	SharePreferred	SeriesAmount	($)Year	Ended	December	31,	2020Series	B$	35.91	$	(1)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	Series	F	3,468.75		(17)	Series	G	1,915.97		(10)	$	(100)	Year	Ended	December	31,	2019Series	B$	51.22	$	(2)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	$	(74)	Year	Ended	December	31,	2018Series	B$	49.11	$	(3)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	4,892.50		(24)	$	(70)	15.	EARNINGS	PER	SHAREBasic	earnings	per	share	is	the	amount	of	earnings	(adjusted	for	dividends	declared	on	preferred	stock)	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,	and	distributions	from	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.		2020	Form	10-K					143redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	F	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	F	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	5.625%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	which	commenced	on	October	15,	2020.The	Series	F	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	F	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	July	15,	2030	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	F	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	F	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	F	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	F	Preferred	Stock	or	the	depositary	shares.	Preferred	G	Stock	issued	and	outstandingDuring	the	2020	third	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	4.450%	Series	G	Non-Cumulative	Perpetual	Preferred	Stock	(Series	G	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	G	Preferred	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	G	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	G	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.450%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	January	15,	2021.The	Series	G	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	G	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	October	15,	2027	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	G	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	G	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	G	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	G	Preferred	Stock	or	the	depositary	shares.	Preferred	H	Stock	issued	and	outstandingOn	February	2,	2021,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).		Each	holder	of	a	depositary	share,	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Preferred	H	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$16	million	related	to	the	issuance	of	the	Preferred	H	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Preferred	H	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.50%	per	year	on	the	liquidation	preference	of	$1,000	per	share,	equivalent	to	$25	142					Huntington	Bancshares	Incorporatedper	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	July	15,	2021,	or	the	next	business	day	if	any	such	day	is	not	a	business	day.The	Preferred	H	Stock	is	perpetual	and	has	no	maturity	date.	Huntington	may	redeem	the	Preferred	H	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	April	15,	2026	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$1,000	per	share	(equivalent	to	$25	per	depositary	share),	plus	any	declared	and	unpaid	dividends	and,	in	the	case	of	a	redemption	following	a	regulatory	capital	treatment	event,	the	pro-rated	portion	of	dividends,	whether	or	not	declared,	for	the	dividend	period	in	which	such	redemption	occurs.		If	Huntington	redeems	the	Preferred	H	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Preferred	H	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Preferred	H	Stock	or	the	depositary	shares.		Any	redemption	of	the	Preferred	H	Stock	is	subject	to	Huntington's	receipt	of	any	required	prior	approval	by	the	Board	of	Governors	of	the	Federal	Reserve	System.The	following	table	presents	the	dividends	declared	for	each	series	of	Preferred	shares		for	the	years	ended	December	31,	2020,	2019,	and	2018:(amounts	in	millions,	except	per	share	data)Cash	Dividend	Declared	Per	SharePreferred	SeriesAmount	($)Year	Ended	December	31,	2020Series	B$	35.91	$	(1)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	Series	F	3,468.75		(17)	Series	G	1,915.97		(10)	$	(100)	Year	Ended	December	31,	2019Series	B$	51.22	$	(2)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	$	(74)	Year	Ended	December	31,	2018Series	B$	49.11	$	(3)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	4,892.50		(24)	$	(70)	15.	EARNINGS	PER	SHAREBasic	earnings	per	share	is	the	amount	of	earnings	(adjusted	for	dividends	declared	on	preferred	stock)	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,	and	distributions	from	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.		2020	Form	10-K					143redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	F	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	F	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	5.625%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	which	commenced	on	October	15,	2020.The	Series	F	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	F	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	July	15,	2030	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	F	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	F	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	F	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	F	Preferred	Stock	or	the	depositary	shares.	Preferred	G	Stock	issued	and	outstandingDuring	the	2020	third	quarter,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	500,000	depositary	shares,	each	depositary	shares	representing	a	1/100th	ownership	interest	in	a	share	of	4.450%	Series	G	Non-Cumulative	Perpetual	Preferred	Stock	(Series	G	Preferred	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share).		Each	holder	of	a	depositary	share	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Series	G	Preferred	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$6	million	related	to	the	issuance	of	the	Series	G	Preferred	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Series	G	Preferred	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.450%	per	year	on	the	liquidation	preference	of	$100,000	per	share,	equivalent	to	$1,000	per	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	January	15,	2021.The	Series	G	Preferred	Stock	is	perpetual	and	has	no	maturity	date.		Huntington	may	redeem	the	Series	G	Preferred	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	October	15,	2027	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$100,000	per	share	(equivalent	to	$1,000	per	depositary	share),	plus	any	declared	and	unpaid	dividends,	without	regard	to	any	undeclared	dividends,	on	the	Series	G	Preferred	Stock	prior	to	the	date	fixed	for	redemption.		If	Huntington	redeems	the	Series	G	Preferred	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Series	Preferred	G	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Series	G	Preferred	Stock	or	the	depositary	shares.	Preferred	H	Stock	issued	and	outstandingOn	February	2,	2021,	Huntington	issued	$500	million	of	preferred	stock.		Huntington	issued	20,000,000	depositary	shares,	each	representing	a	1/40th	ownership	interest	in	a	share	of	4.50%	Series	H	Non-Cumulative	Perpetual	Preferred	Stock	(Preferred	H	Stock),	par	value	$0.01	per	share,	with	a	liquidation	preference	of	$1,000	per	share	(equivalent	to	$25	per	depositary	share).		Each	holder	of	a	depositary	share,	will	be	entitled	to	all	proportional	rights	and	preferences	of	the	Preferred	H	Stock	(including	dividend,	voting,	redemption,	and	liquidation	rights).		Costs	of	$16	million	related	to	the	issuance	of	the	Preferred	H	Stock	are	reported	as	a	direct	deduction	from	the	face	amount	of	the	stock.Dividends	on	the	Preferred	H	Stock	will	be	non-cumulative	and	payable	quarterly	in	arrears,	when,	as	and	if	authorized	by	the	Company's	board	of	directors	or	a	duly	authorized	committee	of	the	board	and	declared	by	the	Company,	at	an	annual	rate	of	4.50%	per	year	on	the	liquidation	preference	of	$1,000	per	share,	equivalent	to	$25	142					Huntington	Bancshares	Incorporatedper	depositary	share.		The	dividend	payment	dates	will	be	the	fifteenth	day	of	each	January,	April,	July	and	October,	commencing	on	July	15,	2021,	or	the	next	business	day	if	any	such	day	is	not	a	business	day.The	Preferred	H	Stock	is	perpetual	and	has	no	maturity	date.	Huntington	may	redeem	the	Preferred	H	Stock	at	its	option,	(i)	in	whole	or	in	part,	from	time	to	time,	on	any	dividend	payment	date	on	or	after	April	15,	2026	or	(ii)	in	whole	but	not	in	part,	within	90	days	following	a	regulatory	capital	treatment	event,	in	each	case,	at	a	redemption	price	equal	to	$1,000	per	share	(equivalent	to	$25	per	depositary	share),	plus	any	declared	and	unpaid	dividends	and,	in	the	case	of	a	redemption	following	a	regulatory	capital	treatment	event,	the	pro-rated	portion	of	dividends,	whether	or	not	declared,	for	the	dividend	period	in	which	such	redemption	occurs.		If	Huntington	redeems	the	Preferred	H	Stock,	the	depositary	will	redeem	a	proportional	number	of	depositary	shares.		Neither	the	holders	of	Preferred	H	Stock	nor	holders	of	depositary	shares	will	have	the	right	to	require	the	redemption	or	repurchase	of	the	Preferred	H	Stock	or	the	depositary	shares.		Any	redemption	of	the	Preferred	H	Stock	is	subject	to	Huntington's	receipt	of	any	required	prior	approval	by	the	Board	of	Governors	of	the	Federal	Reserve	System.The	following	table	presents	the	dividends	declared	for	each	series	of	Preferred	shares		for	the	years	ended	December	31,	2020,	2019,	and	2018:(amounts	in	millions,	except	per	share	data)Cash	Dividend	Declared	Per	SharePreferred	SeriesAmount	($)Year	Ended	December	31,	2020Series	B$	35.91	$	(1)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	Series	F	3,468.75		(17)	Series	G	1,915.97		(10)	$	(100)	Year	Ended	December	31,	2019Series	B$	51.22	$	(2)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	5,700.00		(29)	$	(74)	Year	Ended	December	31,	2018Series	B$	49.11	$	(3)	Series	C	58.76		(6)	Series	D	62.50		(37)	Series	E	4,892.50		(24)	$	(70)	15.	EARNINGS	PER	SHAREBasic	earnings	per	share	is	the	amount	of	earnings	(adjusted	for	dividends	declared	on	preferred	stock)	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,	and	distributions	from	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.		2020	Form	10-K					143The	calculation	of	basic	and	diluted	earnings	per	share	for	each	of	the	three	years	ended	December	31	was	as	follows:Year	Ended	December	31,(amounts	in	millions,	except	per	share	data,	share	count	in	thousands)202020192018Net	income$	817	$	1,411	$	1,393	Preferred	stock	dividends	(100)		(74)		(70)	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares	issued	and	outstanding	1,017,117		1,038,840		1,081,542	Dilutive	potential	common	sharesStock	options	and	restricted	stock	units	and	awards	10,613		12,994		16,529	Shares	held	in	deferred	compensation	plans	4,953		4,245		3,511	Dilutive	impact	of	Preferred	Stock	(1)	—		—		4,403	Other	—		—		—	Dilutive	potential	common	shares	15,566		17,239		24,443	Total	diluted	average	common	shares	issued	and	outstanding	1,032,683		1,056,079		1,105,985	Basic	earnings	per	common	share$	0.71	$	1.29	$	1.22	Diluted	earnings	per	common	share$	0.69	$	1.27	$	1.20	Anti-dilutive	awards	(2)	9,760		5,253		2,307	(1)The	2018	total	diluted	average	common	shares	issued	and	outstanding	was	impacted	by	using	the	if-converted	method.(2)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.16.	NONINTEREST	INCOME	Huntington	earns	a	variety	of	revenue	including	interest	and	fees	from	customers	as	well	as	revenues	from	non-customers.		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	ASC	606	and	are	generally	recognized	within	noninterest	income.		These	revenues	are	included	within	various	sections	of	the	Consolidated	Financial	Statements.		The	following	table	shows	Huntington’s	total	noninterest	income	segregated	between	contracts	with	customers	within	the	scope	of	ASC	606	and	those	within	the	scope	of	other	GAAP	Topics.	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Noninterest	incomeNoninterest	income	from	contracts	with	customers$	884	$	939	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	707		515		440	Total	noninterest	income$	1,591	$	1,454	$	1,321	144					Huntington	Bancshares	IncorporatedThe	following	table	illustrates	the	disaggregation	by	operating	segment	and	major	revenue	stream	and	reconciles	disaggregated	revenue	to	segment	revenue	presented	in	Note	26	-	“Segment	Reporting”:Year	Ended	December	31,	2020(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	217	$	74	$	6	$	4	$	—	$	301	Card	and	payment	processing	income	221		15		—		—		—		236	Trust	and	investment	management	services	44		5		—		140		—		189	Insurance	income	43		7		—		46		1		97	Other	noninterest	income	26		22		2		11		—		61	Net	revenue	from	contracts	with	customers$	551	$	123	$	8	$	201	$	1	$	884	Noninterest	income	within	the	scope	of	other	GAAP	topics	394		241		1		—		71		707	Total	noninterest	income$	945	$	364	$	9	$	201	$	72	$	1,591	Year	Ended	December	31,	2019(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts	$	297	$	64	$	7	$	4	$	—	$	372	Card	and	payment	processing	income	218		15		—		—		—		233	Trust	and	investment	management	services	34		4		—		139		1		178	Insurance	Income	34		6		—		47		1		88	Other	noninterest	income	32		24		4		6		2		68	Net	revenue	from	contracts	with	customers$	615	$	113	$	11	$	196	$	4	$	939	Noninterest	income	within	the	scope	of	other	GAAP	topics	210		246		1		2		56		515	Total	noninterest	income$	825	$	359	$	12	$	198	$	60	$	1,454	Year	Ended	December	31,	2018(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	290	$	64	$	5	$	4	$	—	$	363	Card	and	payment	processing	income	198		11		—		—		—		209	Trust	and	investment	management	services	28		4		—		139		—		171	Insurance	Income	34		5		—		41		2		82	Other	noninterest	income	38		6		3		8		1		56	Net	revenue	from	contracts	with	customers$	588	$	90	$	8	$	192	$	3	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	156		231		3		1		49		440	Total	noninterest	income$	744	$	321	$	11	$	193	$	52	$	1,321	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	December	31,	2020	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	December	31,	2020	was	determined	to	be	immaterial.2020	Form	10-K					145The	calculation	of	basic	and	diluted	earnings	per	share	for	each	of	the	three	years	ended	December	31	was	as	follows:Year	Ended	December	31,(amounts	in	millions,	except	per	share	data,	share	count	in	thousands)202020192018Net	income$	817	$	1,411	$	1,393	Preferred	stock	dividends	(100)		(74)		(70)	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares	issued	and	outstanding	1,017,117		1,038,840		1,081,542	Dilutive	potential	common	sharesStock	options	and	restricted	stock	units	and	awards	10,613		12,994		16,529	Shares	held	in	deferred	compensation	plans	4,953		4,245		3,511	Dilutive	impact	of	Preferred	Stock	(1)	—		—		4,403	Other	—		—		—	Dilutive	potential	common	shares	15,566		17,239		24,443	Total	diluted	average	common	shares	issued	and	outstanding	1,032,683		1,056,079		1,105,985	Basic	earnings	per	common	share$	0.71	$	1.29	$	1.22	Diluted	earnings	per	common	share$	0.69	$	1.27	$	1.20	Anti-dilutive	awards	(2)	9,760		5,253		2,307	(1)The	2018	total	diluted	average	common	shares	issued	and	outstanding	was	impacted	by	using	the	if-converted	method.(2)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.16.	NONINTEREST	INCOME	Huntington	earns	a	variety	of	revenue	including	interest	and	fees	from	customers	as	well	as	revenues	from	non-customers.		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	ASC	606	and	are	generally	recognized	within	noninterest	income.		These	revenues	are	included	within	various	sections	of	the	Consolidated	Financial	Statements.		The	following	table	shows	Huntington’s	total	noninterest	income	segregated	between	contracts	with	customers	within	the	scope	of	ASC	606	and	those	within	the	scope	of	other	GAAP	Topics.	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Noninterest	incomeNoninterest	income	from	contracts	with	customers$	884	$	939	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	707		515		440	Total	noninterest	income$	1,591	$	1,454	$	1,321	144					Huntington	Bancshares	IncorporatedThe	following	table	illustrates	the	disaggregation	by	operating	segment	and	major	revenue	stream	and	reconciles	disaggregated	revenue	to	segment	revenue	presented	in	Note	26	-	“Segment	Reporting”:Year	Ended	December	31,	2020(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	217	$	74	$	6	$	4	$	—	$	301	Card	and	payment	processing	income	221		15		—		—		—		236	Trust	and	investment	management	services	44		5		—		140		—		189	Insurance	income	43		7		—		46		1		97	Other	noninterest	income	26		22		2		11		—		61	Net	revenue	from	contracts	with	customers$	551	$	123	$	8	$	201	$	1	$	884	Noninterest	income	within	the	scope	of	other	GAAP	topics	394		241		1		—		71		707	Total	noninterest	income$	945	$	364	$	9	$	201	$	72	$	1,591	Year	Ended	December	31,	2019(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts	$	297	$	64	$	7	$	4	$	—	$	372	Card	and	payment	processing	income	218		15		—		—		—		233	Trust	and	investment	management	services	34		4		—		139		1		178	Insurance	Income	34		6		—		47		1		88	Other	noninterest	income	32		24		4		6		2		68	Net	revenue	from	contracts	with	customers$	615	$	113	$	11	$	196	$	4	$	939	Noninterest	income	within	the	scope	of	other	GAAP	topics	210		246		1		2		56		515	Total	noninterest	income$	825	$	359	$	12	$	198	$	60	$	1,454	Year	Ended	December	31,	2018(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	290	$	64	$	5	$	4	$	—	$	363	Card	and	payment	processing	income	198		11		—		—		—		209	Trust	and	investment	management	services	28		4		—		139		—		171	Insurance	Income	34		5		—		41		2		82	Other	noninterest	income	38		6		3		8		1		56	Net	revenue	from	contracts	with	customers$	588	$	90	$	8	$	192	$	3	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	156		231		3		1		49		440	Total	noninterest	income$	744	$	321	$	11	$	193	$	52	$	1,321	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	December	31,	2020	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	December	31,	2020	was	determined	to	be	immaterial.2020	Form	10-K					145The	calculation	of	basic	and	diluted	earnings	per	share	for	each	of	the	three	years	ended	December	31	was	as	follows:Year	Ended	December	31,(amounts	in	millions,	except	per	share	data,	share	count	in	thousands)202020192018Net	income$	817	$	1,411	$	1,393	Preferred	stock	dividends	(100)		(74)		(70)	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares	issued	and	outstanding	1,017,117		1,038,840		1,081,542	Dilutive	potential	common	sharesStock	options	and	restricted	stock	units	and	awards	10,613		12,994		16,529	Shares	held	in	deferred	compensation	plans	4,953		4,245		3,511	Dilutive	impact	of	Preferred	Stock	(1)	—		—		4,403	Other	—		—		—	Dilutive	potential	common	shares	15,566		17,239		24,443	Total	diluted	average	common	shares	issued	and	outstanding	1,032,683		1,056,079		1,105,985	Basic	earnings	per	common	share$	0.71	$	1.29	$	1.22	Diluted	earnings	per	common	share$	0.69	$	1.27	$	1.20	Anti-dilutive	awards	(2)	9,760		5,253		2,307	(1)The	2018	total	diluted	average	common	shares	issued	and	outstanding	was	impacted	by	using	the	if-converted	method.(2)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.16.	NONINTEREST	INCOME	Huntington	earns	a	variety	of	revenue	including	interest	and	fees	from	customers	as	well	as	revenues	from	non-customers.		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	ASC	606	and	are	generally	recognized	within	noninterest	income.		These	revenues	are	included	within	various	sections	of	the	Consolidated	Financial	Statements.		The	following	table	shows	Huntington’s	total	noninterest	income	segregated	between	contracts	with	customers	within	the	scope	of	ASC	606	and	those	within	the	scope	of	other	GAAP	Topics.	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Noninterest	incomeNoninterest	income	from	contracts	with	customers$	884	$	939	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	707		515		440	Total	noninterest	income$	1,591	$	1,454	$	1,321	144					Huntington	Bancshares	IncorporatedThe	following	table	illustrates	the	disaggregation	by	operating	segment	and	major	revenue	stream	and	reconciles	disaggregated	revenue	to	segment	revenue	presented	in	Note	26	-	“Segment	Reporting”:Year	Ended	December	31,	2020(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	217	$	74	$	6	$	4	$	—	$	301	Card	and	payment	processing	income	221		15		—		—		—		236	Trust	and	investment	management	services	44		5		—		140		—		189	Insurance	income	43		7		—		46		1		97	Other	noninterest	income	26		22		2		11		—		61	Net	revenue	from	contracts	with	customers$	551	$	123	$	8	$	201	$	1	$	884	Noninterest	income	within	the	scope	of	other	GAAP	topics	394		241		1		—		71		707	Total	noninterest	income$	945	$	364	$	9	$	201	$	72	$	1,591	Year	Ended	December	31,	2019(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts	$	297	$	64	$	7	$	4	$	—	$	372	Card	and	payment	processing	income	218		15		—		—		—		233	Trust	and	investment	management	services	34		4		—		139		1		178	Insurance	Income	34		6		—		47		1		88	Other	noninterest	income	32		24		4		6		2		68	Net	revenue	from	contracts	with	customers$	615	$	113	$	11	$	196	$	4	$	939	Noninterest	income	within	the	scope	of	other	GAAP	topics	210		246		1		2		56		515	Total	noninterest	income$	825	$	359	$	12	$	198	$	60	$	1,454	Year	Ended	December	31,	2018(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	290	$	64	$	5	$	4	$	—	$	363	Card	and	payment	processing	income	198		11		—		—		—		209	Trust	and	investment	management	services	28		4		—		139		—		171	Insurance	Income	34		5		—		41		2		82	Other	noninterest	income	38		6		3		8		1		56	Net	revenue	from	contracts	with	customers$	588	$	90	$	8	$	192	$	3	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	156		231		3		1		49		440	Total	noninterest	income$	744	$	321	$	11	$	193	$	52	$	1,321	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	December	31,	2020	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	December	31,	2020	was	determined	to	be	immaterial.2020	Form	10-K					145The	calculation	of	basic	and	diluted	earnings	per	share	for	each	of	the	three	years	ended	December	31	was	as	follows:Year	Ended	December	31,(amounts	in	millions,	except	per	share	data,	share	count	in	thousands)202020192018Net	income$	817	$	1,411	$	1,393	Preferred	stock	dividends	(100)		(74)		(70)	Net	income	available	to	common	shareholders$	717	$	1,337	$	1,323	Average	common	shares	issued	and	outstanding	1,017,117		1,038,840		1,081,542	Dilutive	potential	common	sharesStock	options	and	restricted	stock	units	and	awards	10,613		12,994		16,529	Shares	held	in	deferred	compensation	plans	4,953		4,245		3,511	Dilutive	impact	of	Preferred	Stock	(1)	—		—		4,403	Other	—		—		—	Dilutive	potential	common	shares	15,566		17,239		24,443	Total	diluted	average	common	shares	issued	and	outstanding	1,032,683		1,056,079		1,105,985	Basic	earnings	per	common	share$	0.71	$	1.29	$	1.22	Diluted	earnings	per	common	share$	0.69	$	1.27	$	1.20	Anti-dilutive	awards	(2)	9,760		5,253		2,307	(1)The	2018	total	diluted	average	common	shares	issued	and	outstanding	was	impacted	by	using	the	if-converted	method.(2)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.16.	NONINTEREST	INCOME	Huntington	earns	a	variety	of	revenue	including	interest	and	fees	from	customers	as	well	as	revenues	from	non-customers.		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	ASC	606	and	are	generally	recognized	within	noninterest	income.		These	revenues	are	included	within	various	sections	of	the	Consolidated	Financial	Statements.		The	following	table	shows	Huntington’s	total	noninterest	income	segregated	between	contracts	with	customers	within	the	scope	of	ASC	606	and	those	within	the	scope	of	other	GAAP	Topics.	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Noninterest	incomeNoninterest	income	from	contracts	with	customers$	884	$	939	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	707		515		440	Total	noninterest	income$	1,591	$	1,454	$	1,321	144					Huntington	Bancshares	IncorporatedThe	following	table	illustrates	the	disaggregation	by	operating	segment	and	major	revenue	stream	and	reconciles	disaggregated	revenue	to	segment	revenue	presented	in	Note	26	-	“Segment	Reporting”:Year	Ended	December	31,	2020(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	217	$	74	$	6	$	4	$	—	$	301	Card	and	payment	processing	income	221		15		—		—		—		236	Trust	and	investment	management	services	44		5		—		140		—		189	Insurance	income	43		7		—		46		1		97	Other	noninterest	income	26		22		2		11		—		61	Net	revenue	from	contracts	with	customers$	551	$	123	$	8	$	201	$	1	$	884	Noninterest	income	within	the	scope	of	other	GAAP	topics	394		241		1		—		71		707	Total	noninterest	income$	945	$	364	$	9	$	201	$	72	$	1,591	Year	Ended	December	31,	2019(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts	$	297	$	64	$	7	$	4	$	—	$	372	Card	and	payment	processing	income	218		15		—		—		—		233	Trust	and	investment	management	services	34		4		—		139		1		178	Insurance	Income	34		6		—		47		1		88	Other	noninterest	income	32		24		4		6		2		68	Net	revenue	from	contracts	with	customers$	615	$	113	$	11	$	196	$	4	$	939	Noninterest	income	within	the	scope	of	other	GAAP	topics	210		246		1		2		56		515	Total	noninterest	income$	825	$	359	$	12	$	198	$	60	$	1,454	Year	Ended	December	31,	2018(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntington	ConsolidatedMajor	Revenue	StreamsService	charges	on	deposit	accounts$	290	$	64	$	5	$	4	$	—	$	363	Card	and	payment	processing	income	198		11		—		—		—		209	Trust	and	investment	management	services	28		4		—		139		—		171	Insurance	Income	34		5		—		41		2		82	Other	noninterest	income	38		6		3		8		1		56	Net	revenue	from	contracts	with	customers$	588	$	90	$	8	$	192	$	3	$	881	Noninterest	income	within	the	scope	of	other	GAAP	topics	156		231		3		1		49		440	Total	noninterest	income$	744	$	321	$	11	$	193	$	52	$	1,321	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	December	31,	2020	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	December	31,	2020	was	determined	to	be	immaterial.2020	Form	10-K					14517.	SHARE-BASED	COMPENSATION	Huntington	sponsors	nonqualified	and	incentive	share	based	compensation	plans.		These	plans	provide	for	the	granting	of	stock	options,	restricted	stock	awards,	restricted	stock	units,	performance	share	units	and	other	awards	to	officers,	directors,	and	other	employees.		Compensation	costs	are	included	in	personnel	costs	on	the	Consolidated	Statements	of	Income.	Huntington	issues	shares	to	fulfill	stock	option	exercises	and	restricted	stock	unit	and	award	vesting	from	available	authorized	common	shares.		At	December	31,	2020,	Huntington	believes	there	are	adequate	authorized	common	shares	to	satisfy	anticipated	stock	option	exercises	and	restricted	stock	unit	award	vesting	in	2021.The	following	table	presents	total	share-based	compensation	expense	and	related	tax	benefit	for	the	three	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)202020192018Share-based	compensation	expense$	77	$	83	$	78	Tax	benefit	13		15		14	2018	Long-Term	Incentive	PlanIn	2018,	shareholders	approved	the	Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan	(the	2018	Plan).		Shares	remaining	under	the	2015	Long-Term	Incentive	Plan	have	been	incorporated	into	the	2018	Plan.		Accordingly,	the	total	number	of	shares	authorized	under	the	2018	Plan	is	33	million	shares.		At	December	31,	2020,	5	million	shares	from	the	Plan	were	available	for	future	grants.		Stock	OptionsStock	options	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Options	granted	typically	vest	ratably	over	four	years	or	when	other	conditions	are	met.		Stock	options,	which	represented	a	portion	of	the	grant	values,	have	no	intrinsic	value	until	the	stock	price	increases.		Options	granted	on	or	after	May	1,	2015	have	a	contractual	term	of	ten	years.		All	options	granted	on	or	before	April	30,	2015	have	a	contractual	term	of	seven	years.		Huntington	uses	the	Black-Scholes	option	pricing	model	to	value	options	in	determining	the	share-based	compensation	expense.		Forfeitures	are	estimated	at	the	date	of	grant	based	on	historical	rates,	and	are	updated	as	necessary,	and	reduce	the	compensation	expense	recognized.		The	risk-free	interest	rate	is	based	on	the	U.S.	Treasury	yield	curve	in	effect	at	the	date	of	grant.		The	expected	dividend	yield	is	based	on	the	dividend	rate	and	stock	price	at	the	date	of	the	grant.		Expected	volatility	is	based	on	the	estimated	volatility	of	Huntington’s	stock	over	the	expected	term	of	the	option.The	following	table	presents	the	weighted	average	assumptions	used	in	the	option	pricing	model	at	the	grant	date	for	options	granted	in	the	three	years	ended	December	31,	2020,	2019,	and	2018:Assumptions202020192018Risk-free	interest	rate	0.48	%	2.41	%	2.88	%Expected	dividend	yield	6.98		4.36		3.71	Expected	volatility	of	Huntington’s	common	stock	39.7		22.5		24.0	Expected	option	term	(years)6.56.56.5Weighted-average	grant	date	fair	value	per	share$	1.49	$	1.91	$	2.58	146					Huntington	Bancshares	IncorporatedHuntington’s	stock	option	activity	and	related	information	for	the	year	ended	December	31,	2020,	was	as	follows:(dollar	amounts	in	millions,	except	per	share	and	options	amounts	in	thousands)Options	Weighted-AverageExercise	PriceWeighted-AverageRemaining	Contractual	Life	(Years)AggregateIntrinsic	ValueOutstanding	at	January	1,	2020	11,309	$	12.23	Granted	4,378		8.60	Exercised	(1,372)		7.56	Forfeited/expired	(163)		13.25	Outstanding	at	December	31,	2020	14,152	$	11.55	7.4$	25	Expected	to	vest	(1)	7,994	$	11.18	8.6$	17	Exercisable	at	December	31,	2020	5,919	$	12.09	5.6$	7	(1)The	number	of	options	expected	to	vest	reflect	an	estimate	of	239,000	shares	expected	to	be	forfeited.The	aggregate	intrinsic	value	represents	the	amount	by	which	the	fair	value	of	underlying	stock	exceeds	the	“in-the-money”	option	exercise	price.		The	total	intrinsic	value	of	options	exercised	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$6	million,	$16	million	and	$52	million,	respectively.		For	the	years	ended	December	31,	2020,	2019,	and	2018,	cash	received	for	the	exercises	of	stock	options	was	$1	million,	$2	million	and	$5	million,	respectively.		The	tax	benefit	realized	for	the	tax	deductions	from	option	exercises	totaled	$1	million,	$3	million	and	$10	million	in	2020,	2019,	and	2018,	respectively.Restricted	Stock	Units	and	Performance	Share	Units	Huntington	also	grants	restricted	stock	units	and	performance	share	units.		These	units	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Restricted	stock	units	are	issued	at	no	cost	to	the	recipient,	and	can	be	settled	only	in	shares	at	the	end	of	the	vesting	period.		Restricted	stock	units	do	not	provide	the	holder	with	voting	rights	or	cash	dividends	during	the	vesting	period,	but	do	accrue	a	dividend	equivalent	that	is	paid	upon	vesting,	and	are	subject	to	certain	service	restrictions.		Performance	share	units	are	payable	contingent	upon	Huntington	achieving	certain	predefined	performance	objectives	over	the	three-year	measurement	period.		The	fair	value	of	these	units	reflect	the	closing	market	price	of	Huntington’s	common	stock	on	the	grant	date.The	following	table	summarizes	the	status	of	Huntington’s	restricted	stock	units,	and	performance	share	units	as	of	December	31,	2020,	and	activity	for	the	year	ended	December	31,	2020:Restricted	Stock	UnitsPerformance	Share	Units(amounts	in	thousands,	except	per	share	amounts)Quantity	Weighted-AverageGrant	DateFair	ValuePer	ShareQuantity	Weighted-AverageGrant	DateFair	ValuePer	ShareNonvested	at	January	1,	2020	15,289	$	13.42		2,769	$	13.49	Granted	7,360		8.98		2,154		8.57	Vested	(5,416)		12.39		(1,626)		12.19	Forfeited	(581)		12.49		(22)		12.93	Nonvested	at	December	31,	2020	16,652	$	12.05		3,275	$	11.74	The	weighted-average	fair	value	at	grant	date	of	nonvested	shares	granted	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$8.90,	$13.91,	and	$14.98,	respectively.		The	total	fair	value	of	awards	vested	during	the	years	ended	December	31,	2020,	2019,	and	2018	was	$86	million,	$69	million,	and	$62	million,	respectively.		As	of	December	31,	2020,	the	total	unrecognized	compensation	cost	related	to	nonvested	shares	was	$91	million	with	a	weighted-average	expense	recognition	period	of	2.4	years.2020	Form	10-K					14717.	SHARE-BASED	COMPENSATION	Huntington	sponsors	nonqualified	and	incentive	share	based	compensation	plans.		These	plans	provide	for	the	granting	of	stock	options,	restricted	stock	awards,	restricted	stock	units,	performance	share	units	and	other	awards	to	officers,	directors,	and	other	employees.		Compensation	costs	are	included	in	personnel	costs	on	the	Consolidated	Statements	of	Income.	Huntington	issues	shares	to	fulfill	stock	option	exercises	and	restricted	stock	unit	and	award	vesting	from	available	authorized	common	shares.		At	December	31,	2020,	Huntington	believes	there	are	adequate	authorized	common	shares	to	satisfy	anticipated	stock	option	exercises	and	restricted	stock	unit	award	vesting	in	2021.The	following	table	presents	total	share-based	compensation	expense	and	related	tax	benefit	for	the	three	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)202020192018Share-based	compensation	expense$	77	$	83	$	78	Tax	benefit	13		15		14	2018	Long-Term	Incentive	PlanIn	2018,	shareholders	approved	the	Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan	(the	2018	Plan).		Shares	remaining	under	the	2015	Long-Term	Incentive	Plan	have	been	incorporated	into	the	2018	Plan.		Accordingly,	the	total	number	of	shares	authorized	under	the	2018	Plan	is	33	million	shares.		At	December	31,	2020,	5	million	shares	from	the	Plan	were	available	for	future	grants.		Stock	OptionsStock	options	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Options	granted	typically	vest	ratably	over	four	years	or	when	other	conditions	are	met.		Stock	options,	which	represented	a	portion	of	the	grant	values,	have	no	intrinsic	value	until	the	stock	price	increases.		Options	granted	on	or	after	May	1,	2015	have	a	contractual	term	of	ten	years.		All	options	granted	on	or	before	April	30,	2015	have	a	contractual	term	of	seven	years.		Huntington	uses	the	Black-Scholes	option	pricing	model	to	value	options	in	determining	the	share-based	compensation	expense.		Forfeitures	are	estimated	at	the	date	of	grant	based	on	historical	rates,	and	are	updated	as	necessary,	and	reduce	the	compensation	expense	recognized.		The	risk-free	interest	rate	is	based	on	the	U.S.	Treasury	yield	curve	in	effect	at	the	date	of	grant.		The	expected	dividend	yield	is	based	on	the	dividend	rate	and	stock	price	at	the	date	of	the	grant.		Expected	volatility	is	based	on	the	estimated	volatility	of	Huntington’s	stock	over	the	expected	term	of	the	option.The	following	table	presents	the	weighted	average	assumptions	used	in	the	option	pricing	model	at	the	grant	date	for	options	granted	in	the	three	years	ended	December	31,	2020,	2019,	and	2018:Assumptions202020192018Risk-free	interest	rate	0.48	%	2.41	%	2.88	%Expected	dividend	yield	6.98		4.36		3.71	Expected	volatility	of	Huntington’s	common	stock	39.7		22.5		24.0	Expected	option	term	(years)6.56.56.5Weighted-average	grant	date	fair	value	per	share$	1.49	$	1.91	$	2.58	146					Huntington	Bancshares	IncorporatedHuntington’s	stock	option	activity	and	related	information	for	the	year	ended	December	31,	2020,	was	as	follows:(dollar	amounts	in	millions,	except	per	share	and	options	amounts	in	thousands)Options	Weighted-AverageExercise	PriceWeighted-AverageRemaining	Contractual	Life	(Years)AggregateIntrinsic	ValueOutstanding	at	January	1,	2020	11,309	$	12.23	Granted	4,378		8.60	Exercised	(1,372)		7.56	Forfeited/expired	(163)		13.25	Outstanding	at	December	31,	2020	14,152	$	11.55	7.4$	25	Expected	to	vest	(1)	7,994	$	11.18	8.6$	17	Exercisable	at	December	31,	2020	5,919	$	12.09	5.6$	7	(1)The	number	of	options	expected	to	vest	reflect	an	estimate	of	239,000	shares	expected	to	be	forfeited.The	aggregate	intrinsic	value	represents	the	amount	by	which	the	fair	value	of	underlying	stock	exceeds	the	“in-the-money”	option	exercise	price.		The	total	intrinsic	value	of	options	exercised	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$6	million,	$16	million	and	$52	million,	respectively.		For	the	years	ended	December	31,	2020,	2019,	and	2018,	cash	received	for	the	exercises	of	stock	options	was	$1	million,	$2	million	and	$5	million,	respectively.		The	tax	benefit	realized	for	the	tax	deductions	from	option	exercises	totaled	$1	million,	$3	million	and	$10	million	in	2020,	2019,	and	2018,	respectively.Restricted	Stock	Units	and	Performance	Share	Units	Huntington	also	grants	restricted	stock	units	and	performance	share	units.		These	units	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Restricted	stock	units	are	issued	at	no	cost	to	the	recipient,	and	can	be	settled	only	in	shares	at	the	end	of	the	vesting	period.		Restricted	stock	units	do	not	provide	the	holder	with	voting	rights	or	cash	dividends	during	the	vesting	period,	but	do	accrue	a	dividend	equivalent	that	is	paid	upon	vesting,	and	are	subject	to	certain	service	restrictions.		Performance	share	units	are	payable	contingent	upon	Huntington	achieving	certain	predefined	performance	objectives	over	the	three-year	measurement	period.		The	fair	value	of	these	units	reflect	the	closing	market	price	of	Huntington’s	common	stock	on	the	grant	date.The	following	table	summarizes	the	status	of	Huntington’s	restricted	stock	units,	and	performance	share	units	as	of	December	31,	2020,	and	activity	for	the	year	ended	December	31,	2020:Restricted	Stock	UnitsPerformance	Share	Units(amounts	in	thousands,	except	per	share	amounts)Quantity	Weighted-AverageGrant	DateFair	ValuePer	ShareQuantity	Weighted-AverageGrant	DateFair	ValuePer	ShareNonvested	at	January	1,	2020	15,289	$	13.42		2,769	$	13.49	Granted	7,360		8.98		2,154		8.57	Vested	(5,416)		12.39		(1,626)		12.19	Forfeited	(581)		12.49		(22)		12.93	Nonvested	at	December	31,	2020	16,652	$	12.05		3,275	$	11.74	The	weighted-average	fair	value	at	grant	date	of	nonvested	shares	granted	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$8.90,	$13.91,	and	$14.98,	respectively.		The	total	fair	value	of	awards	vested	during	the	years	ended	December	31,	2020,	2019,	and	2018	was	$86	million,	$69	million,	and	$62	million,	respectively.		As	of	December	31,	2020,	the	total	unrecognized	compensation	cost	related	to	nonvested	shares	was	$91	million	with	a	weighted-average	expense	recognition	period	of	2.4	years.2020	Form	10-K					14717.	SHARE-BASED	COMPENSATION	Huntington	sponsors	nonqualified	and	incentive	share	based	compensation	plans.		These	plans	provide	for	the	granting	of	stock	options,	restricted	stock	awards,	restricted	stock	units,	performance	share	units	and	other	awards	to	officers,	directors,	and	other	employees.		Compensation	costs	are	included	in	personnel	costs	on	the	Consolidated	Statements	of	Income.	Huntington	issues	shares	to	fulfill	stock	option	exercises	and	restricted	stock	unit	and	award	vesting	from	available	authorized	common	shares.		At	December	31,	2020,	Huntington	believes	there	are	adequate	authorized	common	shares	to	satisfy	anticipated	stock	option	exercises	and	restricted	stock	unit	award	vesting	in	2021.The	following	table	presents	total	share-based	compensation	expense	and	related	tax	benefit	for	the	three	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)202020192018Share-based	compensation	expense$	77	$	83	$	78	Tax	benefit	13		15		14	2018	Long-Term	Incentive	PlanIn	2018,	shareholders	approved	the	Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan	(the	2018	Plan).		Shares	remaining	under	the	2015	Long-Term	Incentive	Plan	have	been	incorporated	into	the	2018	Plan.		Accordingly,	the	total	number	of	shares	authorized	under	the	2018	Plan	is	33	million	shares.		At	December	31,	2020,	5	million	shares	from	the	Plan	were	available	for	future	grants.		Stock	OptionsStock	options	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Options	granted	typically	vest	ratably	over	four	years	or	when	other	conditions	are	met.		Stock	options,	which	represented	a	portion	of	the	grant	values,	have	no	intrinsic	value	until	the	stock	price	increases.		Options	granted	on	or	after	May	1,	2015	have	a	contractual	term	of	ten	years.		All	options	granted	on	or	before	April	30,	2015	have	a	contractual	term	of	seven	years.		Huntington	uses	the	Black-Scholes	option	pricing	model	to	value	options	in	determining	the	share-based	compensation	expense.		Forfeitures	are	estimated	at	the	date	of	grant	based	on	historical	rates,	and	are	updated	as	necessary,	and	reduce	the	compensation	expense	recognized.		The	risk-free	interest	rate	is	based	on	the	U.S.	Treasury	yield	curve	in	effect	at	the	date	of	grant.		The	expected	dividend	yield	is	based	on	the	dividend	rate	and	stock	price	at	the	date	of	the	grant.		Expected	volatility	is	based	on	the	estimated	volatility	of	Huntington’s	stock	over	the	expected	term	of	the	option.The	following	table	presents	the	weighted	average	assumptions	used	in	the	option	pricing	model	at	the	grant	date	for	options	granted	in	the	three	years	ended	December	31,	2020,	2019,	and	2018:Assumptions202020192018Risk-free	interest	rate	0.48	%	2.41	%	2.88	%Expected	dividend	yield	6.98		4.36		3.71	Expected	volatility	of	Huntington’s	common	stock	39.7		22.5		24.0	Expected	option	term	(years)6.56.56.5Weighted-average	grant	date	fair	value	per	share$	1.49	$	1.91	$	2.58	146					Huntington	Bancshares	IncorporatedHuntington’s	stock	option	activity	and	related	information	for	the	year	ended	December	31,	2020,	was	as	follows:(dollar	amounts	in	millions,	except	per	share	and	options	amounts	in	thousands)Options	Weighted-AverageExercise	PriceWeighted-AverageRemaining	Contractual	Life	(Years)AggregateIntrinsic	ValueOutstanding	at	January	1,	2020	11,309	$	12.23	Granted	4,378		8.60	Exercised	(1,372)		7.56	Forfeited/expired	(163)		13.25	Outstanding	at	December	31,	2020	14,152	$	11.55	7.4$	25	Expected	to	vest	(1)	7,994	$	11.18	8.6$	17	Exercisable	at	December	31,	2020	5,919	$	12.09	5.6$	7	(1)The	number	of	options	expected	to	vest	reflect	an	estimate	of	239,000	shares	expected	to	be	forfeited.The	aggregate	intrinsic	value	represents	the	amount	by	which	the	fair	value	of	underlying	stock	exceeds	the	“in-the-money”	option	exercise	price.		The	total	intrinsic	value	of	options	exercised	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$6	million,	$16	million	and	$52	million,	respectively.		For	the	years	ended	December	31,	2020,	2019,	and	2018,	cash	received	for	the	exercises	of	stock	options	was	$1	million,	$2	million	and	$5	million,	respectively.		The	tax	benefit	realized	for	the	tax	deductions	from	option	exercises	totaled	$1	million,	$3	million	and	$10	million	in	2020,	2019,	and	2018,	respectively.Restricted	Stock	Units	and	Performance	Share	Units	Huntington	also	grants	restricted	stock	units	and	performance	share	units.		These	units	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Restricted	stock	units	are	issued	at	no	cost	to	the	recipient,	and	can	be	settled	only	in	shares	at	the	end	of	the	vesting	period.		Restricted	stock	units	do	not	provide	the	holder	with	voting	rights	or	cash	dividends	during	the	vesting	period,	but	do	accrue	a	dividend	equivalent	that	is	paid	upon	vesting,	and	are	subject	to	certain	service	restrictions.		Performance	share	units	are	payable	contingent	upon	Huntington	achieving	certain	predefined	performance	objectives	over	the	three-year	measurement	period.		The	fair	value	of	these	units	reflect	the	closing	market	price	of	Huntington’s	common	stock	on	the	grant	date.The	following	table	summarizes	the	status	of	Huntington’s	restricted	stock	units,	and	performance	share	units	as	of	December	31,	2020,	and	activity	for	the	year	ended	December	31,	2020:Restricted	Stock	UnitsPerformance	Share	Units(amounts	in	thousands,	except	per	share	amounts)Quantity	Weighted-AverageGrant	DateFair	ValuePer	ShareQuantity	Weighted-AverageGrant	DateFair	ValuePer	ShareNonvested	at	January	1,	2020	15,289	$	13.42		2,769	$	13.49	Granted	7,360		8.98		2,154		8.57	Vested	(5,416)		12.39		(1,626)		12.19	Forfeited	(581)		12.49		(22)		12.93	Nonvested	at	December	31,	2020	16,652	$	12.05		3,275	$	11.74	The	weighted-average	fair	value	at	grant	date	of	nonvested	shares	granted	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$8.90,	$13.91,	and	$14.98,	respectively.		The	total	fair	value	of	awards	vested	during	the	years	ended	December	31,	2020,	2019,	and	2018	was	$86	million,	$69	million,	and	$62	million,	respectively.		As	of	December	31,	2020,	the	total	unrecognized	compensation	cost	related	to	nonvested	shares	was	$91	million	with	a	weighted-average	expense	recognition	period	of	2.4	years.2020	Form	10-K					14717.	SHARE-BASED	COMPENSATION	Huntington	sponsors	nonqualified	and	incentive	share	based	compensation	plans.		These	plans	provide	for	the	granting	of	stock	options,	restricted	stock	awards,	restricted	stock	units,	performance	share	units	and	other	awards	to	officers,	directors,	and	other	employees.		Compensation	costs	are	included	in	personnel	costs	on	the	Consolidated	Statements	of	Income.	Huntington	issues	shares	to	fulfill	stock	option	exercises	and	restricted	stock	unit	and	award	vesting	from	available	authorized	common	shares.		At	December	31,	2020,	Huntington	believes	there	are	adequate	authorized	common	shares	to	satisfy	anticipated	stock	option	exercises	and	restricted	stock	unit	award	vesting	in	2021.The	following	table	presents	total	share-based	compensation	expense	and	related	tax	benefit	for	the	three	years	ended	December	31,	2020,	2019,	and	2018:(dollar	amounts	in	millions)202020192018Share-based	compensation	expense$	77	$	83	$	78	Tax	benefit	13		15		14	2018	Long-Term	Incentive	PlanIn	2018,	shareholders	approved	the	Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan	(the	2018	Plan).		Shares	remaining	under	the	2015	Long-Term	Incentive	Plan	have	been	incorporated	into	the	2018	Plan.		Accordingly,	the	total	number	of	shares	authorized	under	the	2018	Plan	is	33	million	shares.		At	December	31,	2020,	5	million	shares	from	the	Plan	were	available	for	future	grants.		Stock	OptionsStock	options	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Options	granted	typically	vest	ratably	over	four	years	or	when	other	conditions	are	met.		Stock	options,	which	represented	a	portion	of	the	grant	values,	have	no	intrinsic	value	until	the	stock	price	increases.		Options	granted	on	or	after	May	1,	2015	have	a	contractual	term	of	ten	years.		All	options	granted	on	or	before	April	30,	2015	have	a	contractual	term	of	seven	years.		Huntington	uses	the	Black-Scholes	option	pricing	model	to	value	options	in	determining	the	share-based	compensation	expense.		Forfeitures	are	estimated	at	the	date	of	grant	based	on	historical	rates,	and	are	updated	as	necessary,	and	reduce	the	compensation	expense	recognized.		The	risk-free	interest	rate	is	based	on	the	U.S.	Treasury	yield	curve	in	effect	at	the	date	of	grant.		The	expected	dividend	yield	is	based	on	the	dividend	rate	and	stock	price	at	the	date	of	the	grant.		Expected	volatility	is	based	on	the	estimated	volatility	of	Huntington’s	stock	over	the	expected	term	of	the	option.The	following	table	presents	the	weighted	average	assumptions	used	in	the	option	pricing	model	at	the	grant	date	for	options	granted	in	the	three	years	ended	December	31,	2020,	2019,	and	2018:Assumptions202020192018Risk-free	interest	rate	0.48	%	2.41	%	2.88	%Expected	dividend	yield	6.98		4.36		3.71	Expected	volatility	of	Huntington’s	common	stock	39.7		22.5		24.0	Expected	option	term	(years)6.56.56.5Weighted-average	grant	date	fair	value	per	share$	1.49	$	1.91	$	2.58	146					Huntington	Bancshares	IncorporatedHuntington’s	stock	option	activity	and	related	information	for	the	year	ended	December	31,	2020,	was	as	follows:(dollar	amounts	in	millions,	except	per	share	and	options	amounts	in	thousands)Options	Weighted-AverageExercise	PriceWeighted-AverageRemaining	Contractual	Life	(Years)AggregateIntrinsic	ValueOutstanding	at	January	1,	2020	11,309	$	12.23	Granted	4,378		8.60	Exercised	(1,372)		7.56	Forfeited/expired	(163)		13.25	Outstanding	at	December	31,	2020	14,152	$	11.55	7.4$	25	Expected	to	vest	(1)	7,994	$	11.18	8.6$	17	Exercisable	at	December	31,	2020	5,919	$	12.09	5.6$	7	(1)The	number	of	options	expected	to	vest	reflect	an	estimate	of	239,000	shares	expected	to	be	forfeited.The	aggregate	intrinsic	value	represents	the	amount	by	which	the	fair	value	of	underlying	stock	exceeds	the	“in-the-money”	option	exercise	price.		The	total	intrinsic	value	of	options	exercised	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$6	million,	$16	million	and	$52	million,	respectively.		For	the	years	ended	December	31,	2020,	2019,	and	2018,	cash	received	for	the	exercises	of	stock	options	was	$1	million,	$2	million	and	$5	million,	respectively.		The	tax	benefit	realized	for	the	tax	deductions	from	option	exercises	totaled	$1	million,	$3	million	and	$10	million	in	2020,	2019,	and	2018,	respectively.Restricted	Stock	Units	and	Performance	Share	Units	Huntington	also	grants	restricted	stock	units	and	performance	share	units.		These	units	are	granted	at	the	closing	market	price	on	the	date	of	the	grant.		Restricted	stock	units	are	issued	at	no	cost	to	the	recipient,	and	can	be	settled	only	in	shares	at	the	end	of	the	vesting	period.		Restricted	stock	units	do	not	provide	the	holder	with	voting	rights	or	cash	dividends	during	the	vesting	period,	but	do	accrue	a	dividend	equivalent	that	is	paid	upon	vesting,	and	are	subject	to	certain	service	restrictions.		Performance	share	units	are	payable	contingent	upon	Huntington	achieving	certain	predefined	performance	objectives	over	the	three-year	measurement	period.		The	fair	value	of	these	units	reflect	the	closing	market	price	of	Huntington’s	common	stock	on	the	grant	date.The	following	table	summarizes	the	status	of	Huntington’s	restricted	stock	units,	and	performance	share	units	as	of	December	31,	2020,	and	activity	for	the	year	ended	December	31,	2020:Restricted	Stock	UnitsPerformance	Share	Units(amounts	in	thousands,	except	per	share	amounts)Quantity	Weighted-AverageGrant	DateFair	ValuePer	ShareQuantity	Weighted-AverageGrant	DateFair	ValuePer	ShareNonvested	at	January	1,	2020	15,289	$	13.42		2,769	$	13.49	Granted	7,360		8.98		2,154		8.57	Vested	(5,416)		12.39		(1,626)		12.19	Forfeited	(581)		12.49		(22)		12.93	Nonvested	at	December	31,	2020	16,652	$	12.05		3,275	$	11.74	The	weighted-average	fair	value	at	grant	date	of	nonvested	shares	granted	for	the	years	ended	December	31,	2020,	2019,	and	2018	were	$8.90,	$13.91,	and	$14.98,	respectively.		The	total	fair	value	of	awards	vested	during	the	years	ended	December	31,	2020,	2019,	and	2018	was	$86	million,	$69	million,	and	$62	million,	respectively.		As	of	December	31,	2020,	the	total	unrecognized	compensation	cost	related	to	nonvested	shares	was	$91	million	with	a	weighted-average	expense	recognition	period	of	2.4	years.2020	Form	10-K					14718.	BENEFIT	PLANS	Huntington	sponsors	a	non-contributory	defined	benefit	pension	plan	covering	substantially	all	employees	hired	or	rehired	prior	to	January	1,	2010.		The	plan,	which	was	modified	in	2013,	no	longer	accrues	service	benefits	to	participants	and	provides	benefits	based	upon	length	of	service	and	compensation	levels.		Huntington’s	funding	policy	is	to	contribute	an	annual	amount	that	is	at	least	equal	to	the	minimum	funding	requirements	but	not	more	than	the	amount	deductible	under	the	Internal	Revenue	Code.		There	were	no	required	minimum	contributions	during	2020.	The	following	table	shows	the	weighted-average	assumptions	used	to	determine	the	benefit	obligation	at	December	31,	2020	and	2019,	and	the	net	periodic	benefit	cost	for	the	years	then	ended:Pension	Benefits20202019Weighted-average	assumptions	used	to	determine	benefit	obligationsDiscount	rate	2.50	%	3.40	%Weighted-average	assumptions	used	to	determine	net	periodic	benefit	costDiscount	rate	3.40		4.41	Expected	return	on	plan	assets	5.00		5.25	The	expected	long-term	rate	of	return	on	plan	assets	is	an	assumption	reflecting	the	average	rate	of	earnings	expected	on	the	funds	invested	or	to	be	invested	to	provide	for	the	benefits	included	in	the	projected	benefit	obligation.		The	expected	long-term	rate	of	return	is	established	at	the	beginning	of	the	plan	year	based	upon	historical	returns	and	projected	returns	on	the	underlying	mix	of	invested	assets.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	benefit	obligation	of	the	Plan	with	the	amounts	recognized	in	the	consolidated	balance	sheets	at	December	31:Pension	Benefits(dollar	amounts	in	millions)20202019Projected	benefit	obligation	at	beginning	of	measurement	year$	923	$	821	Changes	due	to:Service	cost	3		2	Interest	cost	26		32	Benefits	paid	(29)		(29)	Settlements	(19)		(14)	Actuarial	assumptions	and	gains	(losses)	122		111	Total	changes	103		102	Projected	benefit	obligation	at	end	of	measurement	year$	1,026	$	923	The	increase	in	the	benefit	obligation	compared	with	the	end	of	the	prior	year	is	primarily	attributed	to	a	decrease	in	the	discount	rate.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	fair	value	of	plan	assets	at	the	December	31,	2020	and	2019	measurement	dates:Pension	Benefits(dollar	amounts	in	millions)20202019Fair	value	of	plan	assets	at	beginning	of	measurement	year$	931	$	828	Changes	due	to:Actual	return	on	plan	assets	164		145	Settlements	(16)		(13)	Benefits	paid	(29)		(29)	Total	changes	119		103	Fair	value	of	plan	assets	at	end	of	measurement	year$	1,050	$	931	As	of	December	31,	2020,	the	difference	between	the	accumulated	benefit	obligation	and	the	fair	value	of	Huntington’s	plan	assets	was	$24	million	and	is	recorded	in	other	assets.148					Huntington	Bancshares	IncorporatedThe	following	table	shows	the	components	of	net	periodic	benefit	costs	recognized	in	the	three	years	ended	December	31,	2020,	2019	and	2018:Pension	Benefits	(1)(dollar	amounts	in	millions)202020192018Service	cost$	3	$	2	$	3	Interest	cost	26		32		29	Expected	return	on	plan	assets	(42)		(44)		(49)	Amortization	of	loss	9		6		9	Settlements	5		5		7	Benefit	costs$	1	$	1	$	(1)	(1)	The	pension	costs	are	recognized	in	noninterest	income	-	other	income	in	the	Consolidated	Statements	of	Income.It	is	Huntington’s	policy	to	recognize	settlement	gains	and	losses	as	incurred.		Assuming	no	cash	contributions	are	made	to	the	plan	during	2021,	Huntington	expects	net	periodic	pension	benefit,	excluding	any	expense	of	settlements,	to	approximate	$6	million	for	2021.	At	December	31,	2020	and	2019,	The	Huntington	National	Bank,	as	trustee,	held	all	plan	assets.		The	plan	assets	consisted	of	investments	in	a	variety	of	cash	equivalent,	corporate	and	government	fixed	income,	and	equity	investments	as	follows:Fair	Value(dollar	amounts	in	millions)20202019Cash	equivalents:Mutual	funds-money	market$	20		2	%$	7		1	%Fixed	income:Corporate	obligations	522		50		460		49	U.S.	Government	obligations	208		20		199		21	Municipal	obligations	6		—		5		1	Collective	trust	funds	118		11		105		11	Equities:Common	stock	48		5		53		6	Preferred	stock	5		—		5		1	Limited	liability	companies	39		4		43		4	Collective	trust	funds	33		3		35		4	Limited	partnerships	51		5		19		2	Fair	value	of	plan	assets$	1,050		100	%$	931		100	%Investments	of	the	Plan	are	accounted	for	at	cost	on	the	trade	date	and	are	reported	at	fair	value.		The	valuation	methodologies	used	to	measure	the	fair	value	of	pension	plan	assets	vary	depending	on	the	type	of	asset.		At	December	31,	2020,	cash	equivalent	money	market	funds	and	U.S.	Treasury	bills	are	valued	at	the	closing	price	reported	from	an	actively	traded	exchange	and	are	classified	as	Level	1.		Fixed	income	investments	are	valued	using	unadjusted	quoted	prices	from	active	markets	for	similar	assets	are	classified	as	Level	2.		Common	and	preferred	stock	are	valued	using	the	year-end	closing	price	as	determined	by	a	national	securities	exchange	and	are	classified	as	Level	1.		Collective	trust	funds	and	limited	liability	companies	are	valued	at	net	asset	value	per	unit	as	a	practical	expedient,	which	is	calculated	based	on	the	fair	values	of	the	underlying	investments	held	by	the	fund	less	its	liabilities	as	reported	by	the	issuer	of	the	fund.		The	investment	in	the	limited	partnerships	is	reported	at	net	asset	value	per	share	as	determined	by	the	general	partners	of	each	limited	partnership,	based	on	their	proportionate	share	of	the	partnership’s	fair	value	as	recorded	in	the	partnership’s	audited	financial	statements.	The	investment	objective	of	the	plan	is	to	maximize	the	return	on	plan	assets	over	a	long-time	period,	while	meeting	the	plan	obligations.		At	December	31,	2020,	plan	assets	were	invested	2%	in	cash	equivalents,	17%	in	equity	investments,	and	81%	in	bonds,	with	an	average	duration	of	15.3	years	on	bond	investments.		The	estimated	life	of	benefit	obligations	was	13.5	years.		Although	it	may	fluctuate	with	market	conditions,	Huntington	has	targeted	a	long-term	allocation	of	plan	assets	of	20%	to	50%	in	equity	investments	and	80%	to	50%	in	bond	investments.		The	allocation	of	plan	assets	between	equity	investments	and	fixed	income	investments	will	change	from	time	to	time.2020	Form	10-K					14918.	BENEFIT	PLANS	Huntington	sponsors	a	non-contributory	defined	benefit	pension	plan	covering	substantially	all	employees	hired	or	rehired	prior	to	January	1,	2010.		The	plan,	which	was	modified	in	2013,	no	longer	accrues	service	benefits	to	participants	and	provides	benefits	based	upon	length	of	service	and	compensation	levels.		Huntington’s	funding	policy	is	to	contribute	an	annual	amount	that	is	at	least	equal	to	the	minimum	funding	requirements	but	not	more	than	the	amount	deductible	under	the	Internal	Revenue	Code.		There	were	no	required	minimum	contributions	during	2020.	The	following	table	shows	the	weighted-average	assumptions	used	to	determine	the	benefit	obligation	at	December	31,	2020	and	2019,	and	the	net	periodic	benefit	cost	for	the	years	then	ended:Pension	Benefits20202019Weighted-average	assumptions	used	to	determine	benefit	obligationsDiscount	rate	2.50	%	3.40	%Weighted-average	assumptions	used	to	determine	net	periodic	benefit	costDiscount	rate	3.40		4.41	Expected	return	on	plan	assets	5.00		5.25	The	expected	long-term	rate	of	return	on	plan	assets	is	an	assumption	reflecting	the	average	rate	of	earnings	expected	on	the	funds	invested	or	to	be	invested	to	provide	for	the	benefits	included	in	the	projected	benefit	obligation.		The	expected	long-term	rate	of	return	is	established	at	the	beginning	of	the	plan	year	based	upon	historical	returns	and	projected	returns	on	the	underlying	mix	of	invested	assets.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	benefit	obligation	of	the	Plan	with	the	amounts	recognized	in	the	consolidated	balance	sheets	at	December	31:Pension	Benefits(dollar	amounts	in	millions)20202019Projected	benefit	obligation	at	beginning	of	measurement	year$	923	$	821	Changes	due	to:Service	cost	3		2	Interest	cost	26		32	Benefits	paid	(29)		(29)	Settlements	(19)		(14)	Actuarial	assumptions	and	gains	(losses)	122		111	Total	changes	103		102	Projected	benefit	obligation	at	end	of	measurement	year$	1,026	$	923	The	increase	in	the	benefit	obligation	compared	with	the	end	of	the	prior	year	is	primarily	attributed	to	a	decrease	in	the	discount	rate.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	fair	value	of	plan	assets	at	the	December	31,	2020	and	2019	measurement	dates:Pension	Benefits(dollar	amounts	in	millions)20202019Fair	value	of	plan	assets	at	beginning	of	measurement	year$	931	$	828	Changes	due	to:Actual	return	on	plan	assets	164		145	Settlements	(16)		(13)	Benefits	paid	(29)		(29)	Total	changes	119		103	Fair	value	of	plan	assets	at	end	of	measurement	year$	1,050	$	931	As	of	December	31,	2020,	the	difference	between	the	accumulated	benefit	obligation	and	the	fair	value	of	Huntington’s	plan	assets	was	$24	million	and	is	recorded	in	other	assets.148					Huntington	Bancshares	IncorporatedThe	following	table	shows	the	components	of	net	periodic	benefit	costs	recognized	in	the	three	years	ended	December	31,	2020,	2019	and	2018:Pension	Benefits	(1)(dollar	amounts	in	millions)202020192018Service	cost$	3	$	2	$	3	Interest	cost	26		32		29	Expected	return	on	plan	assets	(42)		(44)		(49)	Amortization	of	loss	9		6		9	Settlements	5		5		7	Benefit	costs$	1	$	1	$	(1)	(1)	The	pension	costs	are	recognized	in	noninterest	income	-	other	income	in	the	Consolidated	Statements	of	Income.It	is	Huntington’s	policy	to	recognize	settlement	gains	and	losses	as	incurred.		Assuming	no	cash	contributions	are	made	to	the	plan	during	2021,	Huntington	expects	net	periodic	pension	benefit,	excluding	any	expense	of	settlements,	to	approximate	$6	million	for	2021.	At	December	31,	2020	and	2019,	The	Huntington	National	Bank,	as	trustee,	held	all	plan	assets.		The	plan	assets	consisted	of	investments	in	a	variety	of	cash	equivalent,	corporate	and	government	fixed	income,	and	equity	investments	as	follows:Fair	Value(dollar	amounts	in	millions)20202019Cash	equivalents:Mutual	funds-money	market$	20		2	%$	7		1	%Fixed	income:Corporate	obligations	522		50		460		49	U.S.	Government	obligations	208		20		199		21	Municipal	obligations	6		—		5		1	Collective	trust	funds	118		11		105		11	Equities:Common	stock	48		5		53		6	Preferred	stock	5		—		5		1	Limited	liability	companies	39		4		43		4	Collective	trust	funds	33		3		35		4	Limited	partnerships	51		5		19		2	Fair	value	of	plan	assets$	1,050		100	%$	931		100	%Investments	of	the	Plan	are	accounted	for	at	cost	on	the	trade	date	and	are	reported	at	fair	value.		The	valuation	methodologies	used	to	measure	the	fair	value	of	pension	plan	assets	vary	depending	on	the	type	of	asset.		At	December	31,	2020,	cash	equivalent	money	market	funds	and	U.S.	Treasury	bills	are	valued	at	the	closing	price	reported	from	an	actively	traded	exchange	and	are	classified	as	Level	1.		Fixed	income	investments	are	valued	using	unadjusted	quoted	prices	from	active	markets	for	similar	assets	are	classified	as	Level	2.		Common	and	preferred	stock	are	valued	using	the	year-end	closing	price	as	determined	by	a	national	securities	exchange	and	are	classified	as	Level	1.		Collective	trust	funds	and	limited	liability	companies	are	valued	at	net	asset	value	per	unit	as	a	practical	expedient,	which	is	calculated	based	on	the	fair	values	of	the	underlying	investments	held	by	the	fund	less	its	liabilities	as	reported	by	the	issuer	of	the	fund.		The	investment	in	the	limited	partnerships	is	reported	at	net	asset	value	per	share	as	determined	by	the	general	partners	of	each	limited	partnership,	based	on	their	proportionate	share	of	the	partnership’s	fair	value	as	recorded	in	the	partnership’s	audited	financial	statements.	The	investment	objective	of	the	plan	is	to	maximize	the	return	on	plan	assets	over	a	long-time	period,	while	meeting	the	plan	obligations.		At	December	31,	2020,	plan	assets	were	invested	2%	in	cash	equivalents,	17%	in	equity	investments,	and	81%	in	bonds,	with	an	average	duration	of	15.3	years	on	bond	investments.		The	estimated	life	of	benefit	obligations	was	13.5	years.		Although	it	may	fluctuate	with	market	conditions,	Huntington	has	targeted	a	long-term	allocation	of	plan	assets	of	20%	to	50%	in	equity	investments	and	80%	to	50%	in	bond	investments.		The	allocation	of	plan	assets	between	equity	investments	and	fixed	income	investments	will	change	from	time	to	time.2020	Form	10-K					14918.	BENEFIT	PLANS	Huntington	sponsors	a	non-contributory	defined	benefit	pension	plan	covering	substantially	all	employees	hired	or	rehired	prior	to	January	1,	2010.		The	plan,	which	was	modified	in	2013,	no	longer	accrues	service	benefits	to	participants	and	provides	benefits	based	upon	length	of	service	and	compensation	levels.		Huntington’s	funding	policy	is	to	contribute	an	annual	amount	that	is	at	least	equal	to	the	minimum	funding	requirements	but	not	more	than	the	amount	deductible	under	the	Internal	Revenue	Code.		There	were	no	required	minimum	contributions	during	2020.	The	following	table	shows	the	weighted-average	assumptions	used	to	determine	the	benefit	obligation	at	December	31,	2020	and	2019,	and	the	net	periodic	benefit	cost	for	the	years	then	ended:Pension	Benefits20202019Weighted-average	assumptions	used	to	determine	benefit	obligationsDiscount	rate	2.50	%	3.40	%Weighted-average	assumptions	used	to	determine	net	periodic	benefit	costDiscount	rate	3.40		4.41	Expected	return	on	plan	assets	5.00		5.25	The	expected	long-term	rate	of	return	on	plan	assets	is	an	assumption	reflecting	the	average	rate	of	earnings	expected	on	the	funds	invested	or	to	be	invested	to	provide	for	the	benefits	included	in	the	projected	benefit	obligation.		The	expected	long-term	rate	of	return	is	established	at	the	beginning	of	the	plan	year	based	upon	historical	returns	and	projected	returns	on	the	underlying	mix	of	invested	assets.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	benefit	obligation	of	the	Plan	with	the	amounts	recognized	in	the	consolidated	balance	sheets	at	December	31:Pension	Benefits(dollar	amounts	in	millions)20202019Projected	benefit	obligation	at	beginning	of	measurement	year$	923	$	821	Changes	due	to:Service	cost	3		2	Interest	cost	26		32	Benefits	paid	(29)		(29)	Settlements	(19)		(14)	Actuarial	assumptions	and	gains	(losses)	122		111	Total	changes	103		102	Projected	benefit	obligation	at	end	of	measurement	year$	1,026	$	923	The	increase	in	the	benefit	obligation	compared	with	the	end	of	the	prior	year	is	primarily	attributed	to	a	decrease	in	the	discount	rate.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	fair	value	of	plan	assets	at	the	December	31,	2020	and	2019	measurement	dates:Pension	Benefits(dollar	amounts	in	millions)20202019Fair	value	of	plan	assets	at	beginning	of	measurement	year$	931	$	828	Changes	due	to:Actual	return	on	plan	assets	164		145	Settlements	(16)		(13)	Benefits	paid	(29)		(29)	Total	changes	119		103	Fair	value	of	plan	assets	at	end	of	measurement	year$	1,050	$	931	As	of	December	31,	2020,	the	difference	between	the	accumulated	benefit	obligation	and	the	fair	value	of	Huntington’s	plan	assets	was	$24	million	and	is	recorded	in	other	assets.148					Huntington	Bancshares	IncorporatedThe	following	table	shows	the	components	of	net	periodic	benefit	costs	recognized	in	the	three	years	ended	December	31,	2020,	2019	and	2018:Pension	Benefits	(1)(dollar	amounts	in	millions)202020192018Service	cost$	3	$	2	$	3	Interest	cost	26		32		29	Expected	return	on	plan	assets	(42)		(44)		(49)	Amortization	of	loss	9		6		9	Settlements	5		5		7	Benefit	costs$	1	$	1	$	(1)	(1)	The	pension	costs	are	recognized	in	noninterest	income	-	other	income	in	the	Consolidated	Statements	of	Income.It	is	Huntington’s	policy	to	recognize	settlement	gains	and	losses	as	incurred.		Assuming	no	cash	contributions	are	made	to	the	plan	during	2021,	Huntington	expects	net	periodic	pension	benefit,	excluding	any	expense	of	settlements,	to	approximate	$6	million	for	2021.	At	December	31,	2020	and	2019,	The	Huntington	National	Bank,	as	trustee,	held	all	plan	assets.		The	plan	assets	consisted	of	investments	in	a	variety	of	cash	equivalent,	corporate	and	government	fixed	income,	and	equity	investments	as	follows:Fair	Value(dollar	amounts	in	millions)20202019Cash	equivalents:Mutual	funds-money	market$	20		2	%$	7		1	%Fixed	income:Corporate	obligations	522		50		460		49	U.S.	Government	obligations	208		20		199		21	Municipal	obligations	6		—		5		1	Collective	trust	funds	118		11		105		11	Equities:Common	stock	48		5		53		6	Preferred	stock	5		—		5		1	Limited	liability	companies	39		4		43		4	Collective	trust	funds	33		3		35		4	Limited	partnerships	51		5		19		2	Fair	value	of	plan	assets$	1,050		100	%$	931		100	%Investments	of	the	Plan	are	accounted	for	at	cost	on	the	trade	date	and	are	reported	at	fair	value.		The	valuation	methodologies	used	to	measure	the	fair	value	of	pension	plan	assets	vary	depending	on	the	type	of	asset.		At	December	31,	2020,	cash	equivalent	money	market	funds	and	U.S.	Treasury	bills	are	valued	at	the	closing	price	reported	from	an	actively	traded	exchange	and	are	classified	as	Level	1.		Fixed	income	investments	are	valued	using	unadjusted	quoted	prices	from	active	markets	for	similar	assets	are	classified	as	Level	2.		Common	and	preferred	stock	are	valued	using	the	year-end	closing	price	as	determined	by	a	national	securities	exchange	and	are	classified	as	Level	1.		Collective	trust	funds	and	limited	liability	companies	are	valued	at	net	asset	value	per	unit	as	a	practical	expedient,	which	is	calculated	based	on	the	fair	values	of	the	underlying	investments	held	by	the	fund	less	its	liabilities	as	reported	by	the	issuer	of	the	fund.		The	investment	in	the	limited	partnerships	is	reported	at	net	asset	value	per	share	as	determined	by	the	general	partners	of	each	limited	partnership,	based	on	their	proportionate	share	of	the	partnership’s	fair	value	as	recorded	in	the	partnership’s	audited	financial	statements.	The	investment	objective	of	the	plan	is	to	maximize	the	return	on	plan	assets	over	a	long-time	period,	while	meeting	the	plan	obligations.		At	December	31,	2020,	plan	assets	were	invested	2%	in	cash	equivalents,	17%	in	equity	investments,	and	81%	in	bonds,	with	an	average	duration	of	15.3	years	on	bond	investments.		The	estimated	life	of	benefit	obligations	was	13.5	years.		Although	it	may	fluctuate	with	market	conditions,	Huntington	has	targeted	a	long-term	allocation	of	plan	assets	of	20%	to	50%	in	equity	investments	and	80%	to	50%	in	bond	investments.		The	allocation	of	plan	assets	between	equity	investments	and	fixed	income	investments	will	change	from	time	to	time.2020	Form	10-K					14918.	BENEFIT	PLANS	Huntington	sponsors	a	non-contributory	defined	benefit	pension	plan	covering	substantially	all	employees	hired	or	rehired	prior	to	January	1,	2010.		The	plan,	which	was	modified	in	2013,	no	longer	accrues	service	benefits	to	participants	and	provides	benefits	based	upon	length	of	service	and	compensation	levels.		Huntington’s	funding	policy	is	to	contribute	an	annual	amount	that	is	at	least	equal	to	the	minimum	funding	requirements	but	not	more	than	the	amount	deductible	under	the	Internal	Revenue	Code.		There	were	no	required	minimum	contributions	during	2020.	The	following	table	shows	the	weighted-average	assumptions	used	to	determine	the	benefit	obligation	at	December	31,	2020	and	2019,	and	the	net	periodic	benefit	cost	for	the	years	then	ended:Pension	Benefits20202019Weighted-average	assumptions	used	to	determine	benefit	obligationsDiscount	rate	2.50	%	3.40	%Weighted-average	assumptions	used	to	determine	net	periodic	benefit	costDiscount	rate	3.40		4.41	Expected	return	on	plan	assets	5.00		5.25	The	expected	long-term	rate	of	return	on	plan	assets	is	an	assumption	reflecting	the	average	rate	of	earnings	expected	on	the	funds	invested	or	to	be	invested	to	provide	for	the	benefits	included	in	the	projected	benefit	obligation.		The	expected	long-term	rate	of	return	is	established	at	the	beginning	of	the	plan	year	based	upon	historical	returns	and	projected	returns	on	the	underlying	mix	of	invested	assets.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	benefit	obligation	of	the	Plan	with	the	amounts	recognized	in	the	consolidated	balance	sheets	at	December	31:Pension	Benefits(dollar	amounts	in	millions)20202019Projected	benefit	obligation	at	beginning	of	measurement	year$	923	$	821	Changes	due	to:Service	cost	3		2	Interest	cost	26		32	Benefits	paid	(29)		(29)	Settlements	(19)		(14)	Actuarial	assumptions	and	gains	(losses)	122		111	Total	changes	103		102	Projected	benefit	obligation	at	end	of	measurement	year$	1,026	$	923	The	increase	in	the	benefit	obligation	compared	with	the	end	of	the	prior	year	is	primarily	attributed	to	a	decrease	in	the	discount	rate.The	following	table	reconciles	the	beginning	and	ending	balances	of	the	fair	value	of	plan	assets	at	the	December	31,	2020	and	2019	measurement	dates:Pension	Benefits(dollar	amounts	in	millions)20202019Fair	value	of	plan	assets	at	beginning	of	measurement	year$	931	$	828	Changes	due	to:Actual	return	on	plan	assets	164		145	Settlements	(16)		(13)	Benefits	paid	(29)		(29)	Total	changes	119		103	Fair	value	of	plan	assets	at	end	of	measurement	year$	1,050	$	931	As	of	December	31,	2020,	the	difference	between	the	accumulated	benefit	obligation	and	the	fair	value	of	Huntington’s	plan	assets	was	$24	million	and	is	recorded	in	other	assets.148					Huntington	Bancshares	IncorporatedThe	following	table	shows	the	components	of	net	periodic	benefit	costs	recognized	in	the	three	years	ended	December	31,	2020,	2019	and	2018:Pension	Benefits	(1)(dollar	amounts	in	millions)202020192018Service	cost$	3	$	2	$	3	Interest	cost	26		32		29	Expected	return	on	plan	assets	(42)		(44)		(49)	Amortization	of	loss	9		6		9	Settlements	5		5		7	Benefit	costs$	1	$	1	$	(1)	(1)	The	pension	costs	are	recognized	in	noninterest	income	-	other	income	in	the	Consolidated	Statements	of	Income.It	is	Huntington’s	policy	to	recognize	settlement	gains	and	losses	as	incurred.		Assuming	no	cash	contributions	are	made	to	the	plan	during	2021,	Huntington	expects	net	periodic	pension	benefit,	excluding	any	expense	of	settlements,	to	approximate	$6	million	for	2021.	At	December	31,	2020	and	2019,	The	Huntington	National	Bank,	as	trustee,	held	all	plan	assets.		The	plan	assets	consisted	of	investments	in	a	variety	of	cash	equivalent,	corporate	and	government	fixed	income,	and	equity	investments	as	follows:Fair	Value(dollar	amounts	in	millions)20202019Cash	equivalents:Mutual	funds-money	market$	20		2	%$	7		1	%Fixed	income:Corporate	obligations	522		50		460		49	U.S.	Government	obligations	208		20		199		21	Municipal	obligations	6		—		5		1	Collective	trust	funds	118		11		105		11	Equities:Common	stock	48		5		53		6	Preferred	stock	5		—		5		1	Limited	liability	companies	39		4		43		4	Collective	trust	funds	33		3		35		4	Limited	partnerships	51		5		19		2	Fair	value	of	plan	assets$	1,050		100	%$	931		100	%Investments	of	the	Plan	are	accounted	for	at	cost	on	the	trade	date	and	are	reported	at	fair	value.		The	valuation	methodologies	used	to	measure	the	fair	value	of	pension	plan	assets	vary	depending	on	the	type	of	asset.		At	December	31,	2020,	cash	equivalent	money	market	funds	and	U.S.	Treasury	bills	are	valued	at	the	closing	price	reported	from	an	actively	traded	exchange	and	are	classified	as	Level	1.		Fixed	income	investments	are	valued	using	unadjusted	quoted	prices	from	active	markets	for	similar	assets	are	classified	as	Level	2.		Common	and	preferred	stock	are	valued	using	the	year-end	closing	price	as	determined	by	a	national	securities	exchange	and	are	classified	as	Level	1.		Collective	trust	funds	and	limited	liability	companies	are	valued	at	net	asset	value	per	unit	as	a	practical	expedient,	which	is	calculated	based	on	the	fair	values	of	the	underlying	investments	held	by	the	fund	less	its	liabilities	as	reported	by	the	issuer	of	the	fund.		The	investment	in	the	limited	partnerships	is	reported	at	net	asset	value	per	share	as	determined	by	the	general	partners	of	each	limited	partnership,	based	on	their	proportionate	share	of	the	partnership’s	fair	value	as	recorded	in	the	partnership’s	audited	financial	statements.	The	investment	objective	of	the	plan	is	to	maximize	the	return	on	plan	assets	over	a	long-time	period,	while	meeting	the	plan	obligations.		At	December	31,	2020,	plan	assets	were	invested	2%	in	cash	equivalents,	17%	in	equity	investments,	and	81%	in	bonds,	with	an	average	duration	of	15.3	years	on	bond	investments.		The	estimated	life	of	benefit	obligations	was	13.5	years.		Although	it	may	fluctuate	with	market	conditions,	Huntington	has	targeted	a	long-term	allocation	of	plan	assets	of	20%	to	50%	in	equity	investments	and	80%	to	50%	in	bond	investments.		The	allocation	of	plan	assets	between	equity	investments	and	fixed	income	investments	will	change	from	time	to	time.2020	Form	10-K					149At	December	31,	2020,	the	following	table	shows	when	benefit	payments	were	expected	to	be	paid:(dollar	amounts	in	millions)Pension	Benefits2021$	58	2022	55	2023	53	2024	51	2025	50	2026	through	2030	243	Huntington	also	sponsors	an	unfunded	defined	benefit	post-retirement	plan	as	well	as	other	nonqualified	retirement	plans.	The	following	table	presents	the	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	2019,	for	all	defined	benefit	and	nonqualified	retirement	plans:(dollar	amounts	in	millions)20202019Other	liabilities$	48	$	67	The	following	tables	present	the	amounts	recognized	in	OCI	as	of	December	31,	2020,	2019,	and	2018,	and	the	changes	in	accumulated	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018:	(dollar	amounts	in	millions)202020192018Net	actuarial	loss$	(253)	$	(261)	$	(257)	Prior	service	cost	—		10		11	Defined	benefit	pension	plans$	(253)	$	(251)	$	(246)	2020(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(7)	$	2	$	(5)	Amortization	included	in	net	periodic	benefit	costs	17		(4)		13	Prior	service	cost:Amounts	arising	during	the	year	(11)		3		(8)	Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(3)	$	1	$	(2)	2019(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(17)	$	5	$	(12)	Amortization	included	in	net	periodic	benefit	costs	12		(3)		9	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(7)	$	2	$	(5)	2018(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(5)	$	2	$	(3)	Amortization	included	in	net	periodic	benefit	costs	13		(3)		10	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(4)		1		(3)	Total	recognized	in	OCI$	4	$	—	$	4	150					Huntington	Bancshares	IncorporatedHuntington	has	a	defined	contribution	plan	that	is	available	to	eligible	employees.		Huntington’s	expense	related	to	the	defined	contribution	plans	for	the	years	ended	December	31,	2020,	2019,	and	2018	was	$47	million,	$51	million,	and	$46	million,	respectively.	The	following	table	shows	the	number	of	shares,	market	value,	and	dividends	received	on	shares	of	Huntington	stock	held	by	the	defined	contribution	plan:December	31,(dollar	amounts	in	millions,	share	amounts	in	thousands)20202019Shares	in	Huntington	common	stock		10,121		10,334	Market	value	of	Huntington	common	stock$	128	$	156	Dividends	received	on	shares	of	Huntington	stock	6		6	19.	INCOME	TAXES	The	following	is	a	summary	of	the	provision	(benefit)	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Current	tax	provision	(benefit)Federal$	236	$	209	$	152	State	12		16		20	Total	current	tax	provision	248		225		172	Deferred	tax	provision	(benefit)Federal	(103)		24		71	State	10		(1)		(8)	Total	deferred	tax	provision	(93)		23		63	Provision	for	income	taxes$	155	$	248	$	235	The	following	is	a	reconciliation	for	provision	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Provision	for	income	taxes	computed	at	the	statutory	rate$	204	$	348	$	342	Increases	(decreases):General	business	credits	(99)		(88)		(80)	Capital	loss	(25)		(62)		(60)	Tax-exempt	income	(17)		(21)		(23)	Tax-exempt	bank	owned	life	insurance	income	(13)		(14)		(14)	Affordable	housing	investment	amortization,	net	of	tax	benefits	78		70		64	State	income	taxes,	net	17		11		10	Stock	based	compensation	1		(5)		(14)	Impact	from	TCJA	—		—		(3)	Other	9		9		13	Provision	for	income	taxes$	155	$	248	$	235	2020	Form	10-K					151At	December	31,	2020,	the	following	table	shows	when	benefit	payments	were	expected	to	be	paid:(dollar	amounts	in	millions)Pension	Benefits2021$	58	2022	55	2023	53	2024	51	2025	50	2026	through	2030	243	Huntington	also	sponsors	an	unfunded	defined	benefit	post-retirement	plan	as	well	as	other	nonqualified	retirement	plans.	The	following	table	presents	the	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	2019,	for	all	defined	benefit	and	nonqualified	retirement	plans:(dollar	amounts	in	millions)20202019Other	liabilities$	48	$	67	The	following	tables	present	the	amounts	recognized	in	OCI	as	of	December	31,	2020,	2019,	and	2018,	and	the	changes	in	accumulated	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018:	(dollar	amounts	in	millions)202020192018Net	actuarial	loss$	(253)	$	(261)	$	(257)	Prior	service	cost	—		10		11	Defined	benefit	pension	plans$	(253)	$	(251)	$	(246)	2020(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(7)	$	2	$	(5)	Amortization	included	in	net	periodic	benefit	costs	17		(4)		13	Prior	service	cost:Amounts	arising	during	the	year	(11)		3		(8)	Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(3)	$	1	$	(2)	2019(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(17)	$	5	$	(12)	Amortization	included	in	net	periodic	benefit	costs	12		(3)		9	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(7)	$	2	$	(5)	2018(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(5)	$	2	$	(3)	Amortization	included	in	net	periodic	benefit	costs	13		(3)		10	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(4)		1		(3)	Total	recognized	in	OCI$	4	$	—	$	4	150					Huntington	Bancshares	IncorporatedHuntington	has	a	defined	contribution	plan	that	is	available	to	eligible	employees.		Huntington’s	expense	related	to	the	defined	contribution	plans	for	the	years	ended	December	31,	2020,	2019,	and	2018	was	$47	million,	$51	million,	and	$46	million,	respectively.	The	following	table	shows	the	number	of	shares,	market	value,	and	dividends	received	on	shares	of	Huntington	stock	held	by	the	defined	contribution	plan:December	31,(dollar	amounts	in	millions,	share	amounts	in	thousands)20202019Shares	in	Huntington	common	stock		10,121		10,334	Market	value	of	Huntington	common	stock$	128	$	156	Dividends	received	on	shares	of	Huntington	stock	6		6	19.	INCOME	TAXES	The	following	is	a	summary	of	the	provision	(benefit)	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Current	tax	provision	(benefit)Federal$	236	$	209	$	152	State	12		16		20	Total	current	tax	provision	248		225		172	Deferred	tax	provision	(benefit)Federal	(103)		24		71	State	10		(1)		(8)	Total	deferred	tax	provision	(93)		23		63	Provision	for	income	taxes$	155	$	248	$	235	The	following	is	a	reconciliation	for	provision	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Provision	for	income	taxes	computed	at	the	statutory	rate$	204	$	348	$	342	Increases	(decreases):General	business	credits	(99)		(88)		(80)	Capital	loss	(25)		(62)		(60)	Tax-exempt	income	(17)		(21)		(23)	Tax-exempt	bank	owned	life	insurance	income	(13)		(14)		(14)	Affordable	housing	investment	amortization,	net	of	tax	benefits	78		70		64	State	income	taxes,	net	17		11		10	Stock	based	compensation	1		(5)		(14)	Impact	from	TCJA	—		—		(3)	Other	9		9		13	Provision	for	income	taxes$	155	$	248	$	235	2020	Form	10-K					151At	December	31,	2020,	the	following	table	shows	when	benefit	payments	were	expected	to	be	paid:(dollar	amounts	in	millions)Pension	Benefits2021$	58	2022	55	2023	53	2024	51	2025	50	2026	through	2030	243	Huntington	also	sponsors	an	unfunded	defined	benefit	post-retirement	plan	as	well	as	other	nonqualified	retirement	plans.	The	following	table	presents	the	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	2019,	for	all	defined	benefit	and	nonqualified	retirement	plans:(dollar	amounts	in	millions)20202019Other	liabilities$	48	$	67	The	following	tables	present	the	amounts	recognized	in	OCI	as	of	December	31,	2020,	2019,	and	2018,	and	the	changes	in	accumulated	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018:	(dollar	amounts	in	millions)202020192018Net	actuarial	loss$	(253)	$	(261)	$	(257)	Prior	service	cost	—		10		11	Defined	benefit	pension	plans$	(253)	$	(251)	$	(246)	2020(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(7)	$	2	$	(5)	Amortization	included	in	net	periodic	benefit	costs	17		(4)		13	Prior	service	cost:Amounts	arising	during	the	year	(11)		3		(8)	Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(3)	$	1	$	(2)	2019(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(17)	$	5	$	(12)	Amortization	included	in	net	periodic	benefit	costs	12		(3)		9	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(7)	$	2	$	(5)	2018(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(5)	$	2	$	(3)	Amortization	included	in	net	periodic	benefit	costs	13		(3)		10	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(4)		1		(3)	Total	recognized	in	OCI$	4	$	—	$	4	150					Huntington	Bancshares	IncorporatedHuntington	has	a	defined	contribution	plan	that	is	available	to	eligible	employees.		Huntington’s	expense	related	to	the	defined	contribution	plans	for	the	years	ended	December	31,	2020,	2019,	and	2018	was	$47	million,	$51	million,	and	$46	million,	respectively.	The	following	table	shows	the	number	of	shares,	market	value,	and	dividends	received	on	shares	of	Huntington	stock	held	by	the	defined	contribution	plan:December	31,(dollar	amounts	in	millions,	share	amounts	in	thousands)20202019Shares	in	Huntington	common	stock		10,121		10,334	Market	value	of	Huntington	common	stock$	128	$	156	Dividends	received	on	shares	of	Huntington	stock	6		6	19.	INCOME	TAXES	The	following	is	a	summary	of	the	provision	(benefit)	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Current	tax	provision	(benefit)Federal$	236	$	209	$	152	State	12		16		20	Total	current	tax	provision	248		225		172	Deferred	tax	provision	(benefit)Federal	(103)		24		71	State	10		(1)		(8)	Total	deferred	tax	provision	(93)		23		63	Provision	for	income	taxes$	155	$	248	$	235	The	following	is	a	reconciliation	for	provision	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Provision	for	income	taxes	computed	at	the	statutory	rate$	204	$	348	$	342	Increases	(decreases):General	business	credits	(99)		(88)		(80)	Capital	loss	(25)		(62)		(60)	Tax-exempt	income	(17)		(21)		(23)	Tax-exempt	bank	owned	life	insurance	income	(13)		(14)		(14)	Affordable	housing	investment	amortization,	net	of	tax	benefits	78		70		64	State	income	taxes,	net	17		11		10	Stock	based	compensation	1		(5)		(14)	Impact	from	TCJA	—		—		(3)	Other	9		9		13	Provision	for	income	taxes$	155	$	248	$	235	2020	Form	10-K					151At	December	31,	2020,	the	following	table	shows	when	benefit	payments	were	expected	to	be	paid:(dollar	amounts	in	millions)Pension	Benefits2021$	58	2022	55	2023	53	2024	51	2025	50	2026	through	2030	243	Huntington	also	sponsors	an	unfunded	defined	benefit	post-retirement	plan	as	well	as	other	nonqualified	retirement	plans.	The	following	table	presents	the	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	2019,	for	all	defined	benefit	and	nonqualified	retirement	plans:(dollar	amounts	in	millions)20202019Other	liabilities$	48	$	67	The	following	tables	present	the	amounts	recognized	in	OCI	as	of	December	31,	2020,	2019,	and	2018,	and	the	changes	in	accumulated	OCI	for	the	years	ended	December	31,	2020,	2019,	and	2018:	(dollar	amounts	in	millions)202020192018Net	actuarial	loss$	(253)	$	(261)	$	(257)	Prior	service	cost	—		10		11	Defined	benefit	pension	plans$	(253)	$	(251)	$	(246)	2020(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(7)	$	2	$	(5)	Amortization	included	in	net	periodic	benefit	costs	17		(4)		13	Prior	service	cost:Amounts	arising	during	the	year	(11)		3		(8)	Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(3)	$	1	$	(2)	2019(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(17)	$	5	$	(12)	Amortization	included	in	net	periodic	benefit	costs	12		(3)		9	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(2)		—		(2)	Total	recognized	in	OCI$	(7)	$	2	$	(5)	2018(dollar	amounts	in	millions)PretaxTax	(expense)	BenefitAfter-taxNet	actuarial	(loss)	gain:Amounts	arising	during	the	year$	(5)	$	2	$	(3)	Amortization	included	in	net	periodic	benefit	costs	13		(3)		10	Prior	service	cost:Amortization	included	in	net	periodic	benefit	costs	(4)		1		(3)	Total	recognized	in	OCI$	4	$	—	$	4	150					Huntington	Bancshares	IncorporatedHuntington	has	a	defined	contribution	plan	that	is	available	to	eligible	employees.		Huntington’s	expense	related	to	the	defined	contribution	plans	for	the	years	ended	December	31,	2020,	2019,	and	2018	was	$47	million,	$51	million,	and	$46	million,	respectively.	The	following	table	shows	the	number	of	shares,	market	value,	and	dividends	received	on	shares	of	Huntington	stock	held	by	the	defined	contribution	plan:December	31,(dollar	amounts	in	millions,	share	amounts	in	thousands)20202019Shares	in	Huntington	common	stock		10,121		10,334	Market	value	of	Huntington	common	stock$	128	$	156	Dividends	received	on	shares	of	Huntington	stock	6		6	19.	INCOME	TAXES	The	following	is	a	summary	of	the	provision	(benefit)	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Current	tax	provision	(benefit)Federal$	236	$	209	$	152	State	12		16		20	Total	current	tax	provision	248		225		172	Deferred	tax	provision	(benefit)Federal	(103)		24		71	State	10		(1)		(8)	Total	deferred	tax	provision	(93)		23		63	Provision	for	income	taxes$	155	$	248	$	235	The	following	is	a	reconciliation	for	provision	for	income	taxes:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Provision	for	income	taxes	computed	at	the	statutory	rate$	204	$	348	$	342	Increases	(decreases):General	business	credits	(99)		(88)		(80)	Capital	loss	(25)		(62)		(60)	Tax-exempt	income	(17)		(21)		(23)	Tax-exempt	bank	owned	life	insurance	income	(13)		(14)		(14)	Affordable	housing	investment	amortization,	net	of	tax	benefits	78		70		64	State	income	taxes,	net	17		11		10	Stock	based	compensation	1		(5)		(14)	Impact	from	TCJA	—		—		(3)	Other	9		9		13	Provision	for	income	taxes$	155	$	248	$	235	2020	Form	10-K					151The	significant	components	of	deferred	tax	assets	and	liabilities	at	December	31,	2020	and	2019	were	as	follows:	At	December	31,(dollar	amounts	in	millions)20202019Deferred	tax	assets:Allowances	for	credit	losses$	448	$	184	Net	operating	and	other	loss	carryforward	128		99	Lease	liability	54		47	Purchase	accounting	and	other	intangibles	30		33	Pension	and	other	employee	benefits	10		12	Fair	value	adjustments	—		77	Other	assets	5		11	Total	deferred	tax	assets	675		463	Deferred	tax	liabilities:Lease	financing	409		359	Loan	origination	costs	137		119	Operating	assets	85		74	Fair	value	adjustments	55		—	Right-of-use	asset	46		41	Mortgage	servicing	rights	43		36	Other	liabilities	23		11	Total	deferred	tax	liabilities	798		640	Net	deferred	tax	liability	before	valuation	allowance	(123)		(177)	Valuation	allowance	(11)		(6)	Net	deferred	tax	liability$	(134)	$	(183)	At	December	31,	2020,	Huntington’s	net	deferred	tax	asset	related	to	net	operating	loss	and	other	carryforwards	was	$128	million.		This	was	comprised	of	federal	net	operating	loss	carryforwards	of	$45	million,	which	will	begin	expiring	in	2029,	$39	million	of	state	net	operating	loss	carryforwards,	which	will	begin	expiring	in	2021,	and	a	capital	loss	carryforward	of	$42	million,	which	will	begin	expiring	in	2022.The	Company	has	established	a	valuation	allowance	on	its	state	deferred	tax	assets	as	it	believes	it	is	more	likely	than	not,	portions	will	not	be	realized.The	Company	and	its	subsidiaries	file	income	tax	returns	in	the	U.S.	federal	jurisdiction	and	various	state	and	city	jurisdictions.		Federal	income	tax	audits	have	been	completed	for	tax	years	through	2009.		In	2019,	the	2010	and	2011	audits	were	submitted	to	the	Congressional	Joint	Committee	on	Taxation	of	the	U.S.	Congress	for	approval.		During	the	2020	third	quarter,	the	Joint	Committee	referred	the	audit	back	to	the	IRS	exam	team	for	reconsideration.		This	action	led	to	the	re-characterization	of	the	audit	resolution	from	a	settlement	to	an	uncertain	tax	position.		While	the	statute	of	limitations	remains	open	for	tax	years	2012	through	2019,	the	IRS	has	advised	that	tax	years	2012	through	2014	will	not	be	audited	and	is	currently	examining	the	2015	and	2016	federal	income	tax	returns.		Also,	with	few	exceptions,	the	Company	is	no	longer	subject	to	state	and	local	income	tax	examinations	for	tax	years	before	2016.The	following	table	provides	a	reconciliation	of	the	beginning	and	ending	amounts	of	gross	unrecognized	tax	benefits:(dollar	amounts	in	millions)20202019Unrecognized	tax	benefits	at	beginning	of	year$	—	$	—	Gross	increases	for	tax	positions	taken	during	prior	years	46		—	Unrecognized	tax	benefits	at	end	of	year$	46	$	—	Due	to	the	complexities	of	some	of	these	uncertainties,	the	ultimate	resolution	may	result	in	a	liability	that	is	materially	different	from	the	current	estimate	of	the	tax	liabilities.		We	do	not	currently	anticipate	that	the	amount	of	unrecognized	tax	benefits	will	significantly	change	over	the	next	12	months.		Any	interest	and	penalties	on	income	tax	assessments	or	income	tax	refunds	are	recognized	in	the	Consolidated	Statements	of	Income	as	a	component	of	provision	for	income	taxes.		The	amounts	of	accrued	tax-related	interest	and	penalties	were	immaterial	at	December	31,	2020	and	2019.		Further,	the	amount	of	net	interest	and	penalties	152					Huntington	Bancshares	Incorporatedrelated	to	unrecognized	tax	benefits	was	immaterial	for	all	periods	presented.		All	of	the	gross	unrecognized	tax	benefits	would	impact	the	Company’s	effective	tax	rate	if	recognized.At	December	31,	2020,	retained	earnings	included	approximately	$12	million	of	base	year	reserves	of	acquired	thrift	institutions,	for	which	no	deferred	federal	income	tax	liability	has	been	recognized.		Under	current	law,	if	these	bad	debt	reserves	are	used	for	purposes	other	than	to	absorb	bad	debt	losses,	they	will	be	subject	to	federal	income	tax	at	the	corporate	tax	rate	enacted	at	the	time.		The	amount	of	unrecognized	deferred	tax	liability	relating	to	the	cumulative	bad	debt	deduction	was	approximately	$3	million	at	December	31,	2020.20.	FAIR	VALUES	OF	ASSETS	AND	LIABILITIES	Following	is	a	description	of	the	valuation	methodologies	used	for	instruments	measured	at	fair	value,	as	well	as	the	general	classification	of	such	instruments	pursuant	to	the	valuation	hierarchy.Loans	held	for	saleHuntington	has	elected	to	apply	the	fair	value	option	for	mortgage	loans	originated	with	the	intent	to	sell	which	are	included	in	loans	held	for	sale.		Mortgage	loans	held	for	sale	are	classified	as	Level	2	and	are	estimated	using	security	prices	for	similar	product	types.Loans	held	for	investmentCertain	mortgage	loans	originated	with	the	intent	to	sell	for	which	the	FVO	was	elected	have	been	reclassified	to	mortgage	loans	held	for	investment.		These	loans	continue	to	be	measured	at	fair	value.		The	fair	value	is	determined	using	fair	value	of	similar	mortgage-backed	securities	adjusted	for	loan	specific	variables.Huntington	elected	the	fair	value	option	for	certain	consumer	loans	with	deteriorated	credit	quality.		These	consumer	loans	are	classified	as	Level	3.		The	key	assumption	used	to	determine	the	fair	value	of	the	consumer	loans	is	discounted	cash	flows.		Available-for-sale	securities	and	trading	account	securitiesSecurities	accounted	for	at	fair	value	include	both	the	available-for-sale	and	trading	portfolios.		Huntington	determines	the	fair	value	of	securities	utilizing	quoted	market	prices	obtained	for	identical	or	similar	assets,	third-party	pricing	services,	third-party	valuation	specialists	and	other	observable	inputs	such	as	recent	trade	observations.		AFS	and	trading	securities	classified	as	Level	1	use	quoted	market	prices	(unadjusted)	in	active	markets	for	identical	securities	at	the	measurement	date.		Less	than	1%	of	the	positions	in	these	portfolios	are	Level	1,	and	consist	of	U.S.	Treasury	securities	and	money	market	mutual	funds.		When	quoted	market	prices	are	not	available,	fair	values	are	classified	as	Level	2	using	quoted	prices	for	similar	assets	in	active	markets,	quoted	prices	of	identical	or	similar	assets	in	markets	that	are	not	active,	and	inputs	that	are	observable	for	the	asset,	either	directly	or	indirectly,	for	substantially	the	full	term	of	the	financial	instrument.		Level	2	represents	82%	of	the	positions	in	these	portfolios,	which	consists	of	U.S.	Government	and	agency	debt	securities,	agency	mortgage	backed	securities,	private-label	asset-backed	securities,	certain	municipal	securities	and	other	securities.		For	Level	2	securities	Huntington	primarily	uses	prices	obtained	from	third-party	pricing	services	to	determine	the	fair	value	of	securities.		Huntington	independently	evaluates	and	corroborates	the	fair	value	received	from	pricing	services	through	various	methods	and	techniques,	including	references	to	dealer	or	other	market	quotes,	by	reviewing	valuations	of	comparable	instruments,	and	by	comparing	the	prices	realized	on	the	sale	of	similar	securities.		If	relevant	market	prices	are	limited	or	unavailable,	valuations	may	require	significant	management	judgment	or	estimation	to	determine	fair	value,	in	which	case	the	fair	values	are	classified	as	Level	3,	which	represent	18%	of	the	positions.		The	Level	3	positions	predominantly	consist	of	direct	purchase	municipal	securities.		A	significant	change	in	the	unobservable	inputs	for	these	securities	may	result	in	a	significant	change	in	the	ending	fair	value	measurement	of	these	securities.The	direct	purchase	municipal	securities	are	classified	as	Level	3	and	require	significant	estimates	to	determine	fair	value	which	results	in	greater	subjectivity.		The	fair	value	is	determined	by	utilizing	a	discounted	cash	flow	valuation	technique	employed	by	a	third-party	valuation	specialist.		The	third-party	specialist	uses	assumptions	related	to	yield,	prepayment	speed,	conditional	default	rates	and	loss	severity	based	on	certain	factors	such	as,	2020	Form	10-K					153The	significant	components	of	deferred	tax	assets	and	liabilities	at	December	31,	2020	and	2019	were	as	follows:	At	December	31,(dollar	amounts	in	millions)20202019Deferred	tax	assets:Allowances	for	credit	losses$	448	$	184	Net	operating	and	other	loss	carryforward	128		99	Lease	liability	54		47	Purchase	accounting	and	other	intangibles	30		33	Pension	and	other	employee	benefits	10		12	Fair	value	adjustments	—		77	Other	assets	5		11	Total	deferred	tax	assets	675		463	Deferred	tax	liabilities:Lease	financing	409		359	Loan	origination	costs	137		119	Operating	assets	85		74	Fair	value	adjustments	55		—	Right-of-use	asset	46		41	Mortgage	servicing	rights	43		36	Other	liabilities	23		11	Total	deferred	tax	liabilities	798		640	Net	deferred	tax	liability	before	valuation	allowance	(123)		(177)	Valuation	allowance	(11)		(6)	Net	deferred	tax	liability$	(134)	$	(183)	At	December	31,	2020,	Huntington’s	net	deferred	tax	asset	related	to	net	operating	loss	and	other	carryforwards	was	$128	million.		This	was	comprised	of	federal	net	operating	loss	carryforwards	of	$45	million,	which	will	begin	expiring	in	2029,	$39	million	of	state	net	operating	loss	carryforwards,	which	will	begin	expiring	in	2021,	and	a	capital	loss	carryforward	of	$42	million,	which	will	begin	expiring	in	2022.The	Company	has	established	a	valuation	allowance	on	its	state	deferred	tax	assets	as	it	believes	it	is	more	likely	than	not,	portions	will	not	be	realized.The	Company	and	its	subsidiaries	file	income	tax	returns	in	the	U.S.	federal	jurisdiction	and	various	state	and	city	jurisdictions.		Federal	income	tax	audits	have	been	completed	for	tax	years	through	2009.		In	2019,	the	2010	and	2011	audits	were	submitted	to	the	Congressional	Joint	Committee	on	Taxation	of	the	U.S.	Congress	for	approval.		During	the	2020	third	quarter,	the	Joint	Committee	referred	the	audit	back	to	the	IRS	exam	team	for	reconsideration.		This	action	led	to	the	re-characterization	of	the	audit	resolution	from	a	settlement	to	an	uncertain	tax	position.		While	the	statute	of	limitations	remains	open	for	tax	years	2012	through	2019,	the	IRS	has	advised	that	tax	years	2012	through	2014	will	not	be	audited	and	is	currently	examining	the	2015	and	2016	federal	income	tax	returns.		Also,	with	few	exceptions,	the	Company	is	no	longer	subject	to	state	and	local	income	tax	examinations	for	tax	years	before	2016.The	following	table	provides	a	reconciliation	of	the	beginning	and	ending	amounts	of	gross	unrecognized	tax	benefits:(dollar	amounts	in	millions)20202019Unrecognized	tax	benefits	at	beginning	of	year$	—	$	—	Gross	increases	for	tax	positions	taken	during	prior	years	46		—	Unrecognized	tax	benefits	at	end	of	year$	46	$	—	Due	to	the	complexities	of	some	of	these	uncertainties,	the	ultimate	resolution	may	result	in	a	liability	that	is	materially	different	from	the	current	estimate	of	the	tax	liabilities.		We	do	not	currently	anticipate	that	the	amount	of	unrecognized	tax	benefits	will	significantly	change	over	the	next	12	months.		Any	interest	and	penalties	on	income	tax	assessments	or	income	tax	refunds	are	recognized	in	the	Consolidated	Statements	of	Income	as	a	component	of	provision	for	income	taxes.		The	amounts	of	accrued	tax-related	interest	and	penalties	were	immaterial	at	December	31,	2020	and	2019.		Further,	the	amount	of	net	interest	and	penalties	152					Huntington	Bancshares	Incorporatedrelated	to	unrecognized	tax	benefits	was	immaterial	for	all	periods	presented.		All	of	the	gross	unrecognized	tax	benefits	would	impact	the	Company’s	effective	tax	rate	if	recognized.At	December	31,	2020,	retained	earnings	included	approximately	$12	million	of	base	year	reserves	of	acquired	thrift	institutions,	for	which	no	deferred	federal	income	tax	liability	has	been	recognized.		Under	current	law,	if	these	bad	debt	reserves	are	used	for	purposes	other	than	to	absorb	bad	debt	losses,	they	will	be	subject	to	federal	income	tax	at	the	corporate	tax	rate	enacted	at	the	time.		The	amount	of	unrecognized	deferred	tax	liability	relating	to	the	cumulative	bad	debt	deduction	was	approximately	$3	million	at	December	31,	2020.20.	FAIR	VALUES	OF	ASSETS	AND	LIABILITIES	Following	is	a	description	of	the	valuation	methodologies	used	for	instruments	measured	at	fair	value,	as	well	as	the	general	classification	of	such	instruments	pursuant	to	the	valuation	hierarchy.Loans	held	for	saleHuntington	has	elected	to	apply	the	fair	value	option	for	mortgage	loans	originated	with	the	intent	to	sell	which	are	included	in	loans	held	for	sale.		Mortgage	loans	held	for	sale	are	classified	as	Level	2	and	are	estimated	using	security	prices	for	similar	product	types.Loans	held	for	investmentCertain	mortgage	loans	originated	with	the	intent	to	sell	for	which	the	FVO	was	elected	have	been	reclassified	to	mortgage	loans	held	for	investment.		These	loans	continue	to	be	measured	at	fair	value.		The	fair	value	is	determined	using	fair	value	of	similar	mortgage-backed	securities	adjusted	for	loan	specific	variables.Huntington	elected	the	fair	value	option	for	certain	consumer	loans	with	deteriorated	credit	quality.		These	consumer	loans	are	classified	as	Level	3.		The	key	assumption	used	to	determine	the	fair	value	of	the	consumer	loans	is	discounted	cash	flows.		Available-for-sale	securities	and	trading	account	securitiesSecurities	accounted	for	at	fair	value	include	both	the	available-for-sale	and	trading	portfolios.		Huntington	determines	the	fair	value	of	securities	utilizing	quoted	market	prices	obtained	for	identical	or	similar	assets,	third-party	pricing	services,	third-party	valuation	specialists	and	other	observable	inputs	such	as	recent	trade	observations.		AFS	and	trading	securities	classified	as	Level	1	use	quoted	market	prices	(unadjusted)	in	active	markets	for	identical	securities	at	the	measurement	date.		Less	than	1%	of	the	positions	in	these	portfolios	are	Level	1,	and	consist	of	U.S.	Treasury	securities	and	money	market	mutual	funds.		When	quoted	market	prices	are	not	available,	fair	values	are	classified	as	Level	2	using	quoted	prices	for	similar	assets	in	active	markets,	quoted	prices	of	identical	or	similar	assets	in	markets	that	are	not	active,	and	inputs	that	are	observable	for	the	asset,	either	directly	or	indirectly,	for	substantially	the	full	term	of	the	financial	instrument.		Level	2	represents	82%	of	the	positions	in	these	portfolios,	which	consists	of	U.S.	Government	and	agency	debt	securities,	agency	mortgage	backed	securities,	private-label	asset-backed	securities,	certain	municipal	securities	and	other	securities.		For	Level	2	securities	Huntington	primarily	uses	prices	obtained	from	third-party	pricing	services	to	determine	the	fair	value	of	securities.		Huntington	independently	evaluates	and	corroborates	the	fair	value	received	from	pricing	services	through	various	methods	and	techniques,	including	references	to	dealer	or	other	market	quotes,	by	reviewing	valuations	of	comparable	instruments,	and	by	comparing	the	prices	realized	on	the	sale	of	similar	securities.		If	relevant	market	prices	are	limited	or	unavailable,	valuations	may	require	significant	management	judgment	or	estimation	to	determine	fair	value,	in	which	case	the	fair	values	are	classified	as	Level	3,	which	represent	18%	of	the	positions.		The	Level	3	positions	predominantly	consist	of	direct	purchase	municipal	securities.		A	significant	change	in	the	unobservable	inputs	for	these	securities	may	result	in	a	significant	change	in	the	ending	fair	value	measurement	of	these	securities.The	direct	purchase	municipal	securities	are	classified	as	Level	3	and	require	significant	estimates	to	determine	fair	value	which	results	in	greater	subjectivity.		The	fair	value	is	determined	by	utilizing	a	discounted	cash	flow	valuation	technique	employed	by	a	third-party	valuation	specialist.		The	third-party	specialist	uses	assumptions	related	to	yield,	prepayment	speed,	conditional	default	rates	and	loss	severity	based	on	certain	factors	such	as,	2020	Form	10-K					153The	significant	components	of	deferred	tax	assets	and	liabilities	at	December	31,	2020	and	2019	were	as	follows:	At	December	31,(dollar	amounts	in	millions)20202019Deferred	tax	assets:Allowances	for	credit	losses$	448	$	184	Net	operating	and	other	loss	carryforward	128		99	Lease	liability	54		47	Purchase	accounting	and	other	intangibles	30		33	Pension	and	other	employee	benefits	10		12	Fair	value	adjustments	—		77	Other	assets	5		11	Total	deferred	tax	assets	675		463	Deferred	tax	liabilities:Lease	financing	409		359	Loan	origination	costs	137		119	Operating	assets	85		74	Fair	value	adjustments	55		—	Right-of-use	asset	46		41	Mortgage	servicing	rights	43		36	Other	liabilities	23		11	Total	deferred	tax	liabilities	798		640	Net	deferred	tax	liability	before	valuation	allowance	(123)		(177)	Valuation	allowance	(11)		(6)	Net	deferred	tax	liability$	(134)	$	(183)	At	December	31,	2020,	Huntington’s	net	deferred	tax	asset	related	to	net	operating	loss	and	other	carryforwards	was	$128	million.		This	was	comprised	of	federal	net	operating	loss	carryforwards	of	$45	million,	which	will	begin	expiring	in	2029,	$39	million	of	state	net	operating	loss	carryforwards,	which	will	begin	expiring	in	2021,	and	a	capital	loss	carryforward	of	$42	million,	which	will	begin	expiring	in	2022.The	Company	has	established	a	valuation	allowance	on	its	state	deferred	tax	assets	as	it	believes	it	is	more	likely	than	not,	portions	will	not	be	realized.The	Company	and	its	subsidiaries	file	income	tax	returns	in	the	U.S.	federal	jurisdiction	and	various	state	and	city	jurisdictions.		Federal	income	tax	audits	have	been	completed	for	tax	years	through	2009.		In	2019,	the	2010	and	2011	audits	were	submitted	to	the	Congressional	Joint	Committee	on	Taxation	of	the	U.S.	Congress	for	approval.		During	the	2020	third	quarter,	the	Joint	Committee	referred	the	audit	back	to	the	IRS	exam	team	for	reconsideration.		This	action	led	to	the	re-characterization	of	the	audit	resolution	from	a	settlement	to	an	uncertain	tax	position.		While	the	statute	of	limitations	remains	open	for	tax	years	2012	through	2019,	the	IRS	has	advised	that	tax	years	2012	through	2014	will	not	be	audited	and	is	currently	examining	the	2015	and	2016	federal	income	tax	returns.		Also,	with	few	exceptions,	the	Company	is	no	longer	subject	to	state	and	local	income	tax	examinations	for	tax	years	before	2016.The	following	table	provides	a	reconciliation	of	the	beginning	and	ending	amounts	of	gross	unrecognized	tax	benefits:(dollar	amounts	in	millions)20202019Unrecognized	tax	benefits	at	beginning	of	year$	—	$	—	Gross	increases	for	tax	positions	taken	during	prior	years	46		—	Unrecognized	tax	benefits	at	end	of	year$	46	$	—	Due	to	the	complexities	of	some	of	these	uncertainties,	the	ultimate	resolution	may	result	in	a	liability	that	is	materially	different	from	the	current	estimate	of	the	tax	liabilities.		We	do	not	currently	anticipate	that	the	amount	of	unrecognized	tax	benefits	will	significantly	change	over	the	next	12	months.		Any	interest	and	penalties	on	income	tax	assessments	or	income	tax	refunds	are	recognized	in	the	Consolidated	Statements	of	Income	as	a	component	of	provision	for	income	taxes.		The	amounts	of	accrued	tax-related	interest	and	penalties	were	immaterial	at	December	31,	2020	and	2019.		Further,	the	amount	of	net	interest	and	penalties	152					Huntington	Bancshares	Incorporatedrelated	to	unrecognized	tax	benefits	was	immaterial	for	all	periods	presented.		All	of	the	gross	unrecognized	tax	benefits	would	impact	the	Company’s	effective	tax	rate	if	recognized.At	December	31,	2020,	retained	earnings	included	approximately	$12	million	of	base	year	reserves	of	acquired	thrift	institutions,	for	which	no	deferred	federal	income	tax	liability	has	been	recognized.		Under	current	law,	if	these	bad	debt	reserves	are	used	for	purposes	other	than	to	absorb	bad	debt	losses,	they	will	be	subject	to	federal	income	tax	at	the	corporate	tax	rate	enacted	at	the	time.		The	amount	of	unrecognized	deferred	tax	liability	relating	to	the	cumulative	bad	debt	deduction	was	approximately	$3	million	at	December	31,	2020.20.	FAIR	VALUES	OF	ASSETS	AND	LIABILITIES	Following	is	a	description	of	the	valuation	methodologies	used	for	instruments	measured	at	fair	value,	as	well	as	the	general	classification	of	such	instruments	pursuant	to	the	valuation	hierarchy.Loans	held	for	saleHuntington	has	elected	to	apply	the	fair	value	option	for	mortgage	loans	originated	with	the	intent	to	sell	which	are	included	in	loans	held	for	sale.		Mortgage	loans	held	for	sale	are	classified	as	Level	2	and	are	estimated	using	security	prices	for	similar	product	types.Loans	held	for	investmentCertain	mortgage	loans	originated	with	the	intent	to	sell	for	which	the	FVO	was	elected	have	been	reclassified	to	mortgage	loans	held	for	investment.		These	loans	continue	to	be	measured	at	fair	value.		The	fair	value	is	determined	using	fair	value	of	similar	mortgage-backed	securities	adjusted	for	loan	specific	variables.Huntington	elected	the	fair	value	option	for	certain	consumer	loans	with	deteriorated	credit	quality.		These	consumer	loans	are	classified	as	Level	3.		The	key	assumption	used	to	determine	the	fair	value	of	the	consumer	loans	is	discounted	cash	flows.		Available-for-sale	securities	and	trading	account	securitiesSecurities	accounted	for	at	fair	value	include	both	the	available-for-sale	and	trading	portfolios.		Huntington	determines	the	fair	value	of	securities	utilizing	quoted	market	prices	obtained	for	identical	or	similar	assets,	third-party	pricing	services,	third-party	valuation	specialists	and	other	observable	inputs	such	as	recent	trade	observations.		AFS	and	trading	securities	classified	as	Level	1	use	quoted	market	prices	(unadjusted)	in	active	markets	for	identical	securities	at	the	measurement	date.		Less	than	1%	of	the	positions	in	these	portfolios	are	Level	1,	and	consist	of	U.S.	Treasury	securities	and	money	market	mutual	funds.		When	quoted	market	prices	are	not	available,	fair	values	are	classified	as	Level	2	using	quoted	prices	for	similar	assets	in	active	markets,	quoted	prices	of	identical	or	similar	assets	in	markets	that	are	not	active,	and	inputs	that	are	observable	for	the	asset,	either	directly	or	indirectly,	for	substantially	the	full	term	of	the	financial	instrument.		Level	2	represents	82%	of	the	positions	in	these	portfolios,	which	consists	of	U.S.	Government	and	agency	debt	securities,	agency	mortgage	backed	securities,	private-label	asset-backed	securities,	certain	municipal	securities	and	other	securities.		For	Level	2	securities	Huntington	primarily	uses	prices	obtained	from	third-party	pricing	services	to	determine	the	fair	value	of	securities.		Huntington	independently	evaluates	and	corroborates	the	fair	value	received	from	pricing	services	through	various	methods	and	techniques,	including	references	to	dealer	or	other	market	quotes,	by	reviewing	valuations	of	comparable	instruments,	and	by	comparing	the	prices	realized	on	the	sale	of	similar	securities.		If	relevant	market	prices	are	limited	or	unavailable,	valuations	may	require	significant	management	judgment	or	estimation	to	determine	fair	value,	in	which	case	the	fair	values	are	classified	as	Level	3,	which	represent	18%	of	the	positions.		The	Level	3	positions	predominantly	consist	of	direct	purchase	municipal	securities.		A	significant	change	in	the	unobservable	inputs	for	these	securities	may	result	in	a	significant	change	in	the	ending	fair	value	measurement	of	these	securities.The	direct	purchase	municipal	securities	are	classified	as	Level	3	and	require	significant	estimates	to	determine	fair	value	which	results	in	greater	subjectivity.		The	fair	value	is	determined	by	utilizing	a	discounted	cash	flow	valuation	technique	employed	by	a	third-party	valuation	specialist.		The	third-party	specialist	uses	assumptions	related	to	yield,	prepayment	speed,	conditional	default	rates	and	loss	severity	based	on	certain	factors	such	as,	2020	Form	10-K					153The	significant	components	of	deferred	tax	assets	and	liabilities	at	December	31,	2020	and	2019	were	as	follows:	At	December	31,(dollar	amounts	in	millions)20202019Deferred	tax	assets:Allowances	for	credit	losses$	448	$	184	Net	operating	and	other	loss	carryforward	128		99	Lease	liability	54		47	Purchase	accounting	and	other	intangibles	30		33	Pension	and	other	employee	benefits	10		12	Fair	value	adjustments	—		77	Other	assets	5		11	Total	deferred	tax	assets	675		463	Deferred	tax	liabilities:Lease	financing	409		359	Loan	origination	costs	137		119	Operating	assets	85		74	Fair	value	adjustments	55		—	Right-of-use	asset	46		41	Mortgage	servicing	rights	43		36	Other	liabilities	23		11	Total	deferred	tax	liabilities	798		640	Net	deferred	tax	liability	before	valuation	allowance	(123)		(177)	Valuation	allowance	(11)		(6)	Net	deferred	tax	liability$	(134)	$	(183)	At	December	31,	2020,	Huntington’s	net	deferred	tax	asset	related	to	net	operating	loss	and	other	carryforwards	was	$128	million.		This	was	comprised	of	federal	net	operating	loss	carryforwards	of	$45	million,	which	will	begin	expiring	in	2029,	$39	million	of	state	net	operating	loss	carryforwards,	which	will	begin	expiring	in	2021,	and	a	capital	loss	carryforward	of	$42	million,	which	will	begin	expiring	in	2022.The	Company	has	established	a	valuation	allowance	on	its	state	deferred	tax	assets	as	it	believes	it	is	more	likely	than	not,	portions	will	not	be	realized.The	Company	and	its	subsidiaries	file	income	tax	returns	in	the	U.S.	federal	jurisdiction	and	various	state	and	city	jurisdictions.		Federal	income	tax	audits	have	been	completed	for	tax	years	through	2009.		In	2019,	the	2010	and	2011	audits	were	submitted	to	the	Congressional	Joint	Committee	on	Taxation	of	the	U.S.	Congress	for	approval.		During	the	2020	third	quarter,	the	Joint	Committee	referred	the	audit	back	to	the	IRS	exam	team	for	reconsideration.		This	action	led	to	the	re-characterization	of	the	audit	resolution	from	a	settlement	to	an	uncertain	tax	position.		While	the	statute	of	limitations	remains	open	for	tax	years	2012	through	2019,	the	IRS	has	advised	that	tax	years	2012	through	2014	will	not	be	audited	and	is	currently	examining	the	2015	and	2016	federal	income	tax	returns.		Also,	with	few	exceptions,	the	Company	is	no	longer	subject	to	state	and	local	income	tax	examinations	for	tax	years	before	2016.The	following	table	provides	a	reconciliation	of	the	beginning	and	ending	amounts	of	gross	unrecognized	tax	benefits:(dollar	amounts	in	millions)20202019Unrecognized	tax	benefits	at	beginning	of	year$	—	$	—	Gross	increases	for	tax	positions	taken	during	prior	years	46		—	Unrecognized	tax	benefits	at	end	of	year$	46	$	—	Due	to	the	complexities	of	some	of	these	uncertainties,	the	ultimate	resolution	may	result	in	a	liability	that	is	materially	different	from	the	current	estimate	of	the	tax	liabilities.		We	do	not	currently	anticipate	that	the	amount	of	unrecognized	tax	benefits	will	significantly	change	over	the	next	12	months.		Any	interest	and	penalties	on	income	tax	assessments	or	income	tax	refunds	are	recognized	in	the	Consolidated	Statements	of	Income	as	a	component	of	provision	for	income	taxes.		The	amounts	of	accrued	tax-related	interest	and	penalties	were	immaterial	at	December	31,	2020	and	2019.		Further,	the	amount	of	net	interest	and	penalties	152					Huntington	Bancshares	Incorporatedrelated	to	unrecognized	tax	benefits	was	immaterial	for	all	periods	presented.		All	of	the	gross	unrecognized	tax	benefits	would	impact	the	Company’s	effective	tax	rate	if	recognized.At	December	31,	2020,	retained	earnings	included	approximately	$12	million	of	base	year	reserves	of	acquired	thrift	institutions,	for	which	no	deferred	federal	income	tax	liability	has	been	recognized.		Under	current	law,	if	these	bad	debt	reserves	are	used	for	purposes	other	than	to	absorb	bad	debt	losses,	they	will	be	subject	to	federal	income	tax	at	the	corporate	tax	rate	enacted	at	the	time.		The	amount	of	unrecognized	deferred	tax	liability	relating	to	the	cumulative	bad	debt	deduction	was	approximately	$3	million	at	December	31,	2020.20.	FAIR	VALUES	OF	ASSETS	AND	LIABILITIES	Following	is	a	description	of	the	valuation	methodologies	used	for	instruments	measured	at	fair	value,	as	well	as	the	general	classification	of	such	instruments	pursuant	to	the	valuation	hierarchy.Loans	held	for	saleHuntington	has	elected	to	apply	the	fair	value	option	for	mortgage	loans	originated	with	the	intent	to	sell	which	are	included	in	loans	held	for	sale.		Mortgage	loans	held	for	sale	are	classified	as	Level	2	and	are	estimated	using	security	prices	for	similar	product	types.Loans	held	for	investmentCertain	mortgage	loans	originated	with	the	intent	to	sell	for	which	the	FVO	was	elected	have	been	reclassified	to	mortgage	loans	held	for	investment.		These	loans	continue	to	be	measured	at	fair	value.		The	fair	value	is	determined	using	fair	value	of	similar	mortgage-backed	securities	adjusted	for	loan	specific	variables.Huntington	elected	the	fair	value	option	for	certain	consumer	loans	with	deteriorated	credit	quality.		These	consumer	loans	are	classified	as	Level	3.		The	key	assumption	used	to	determine	the	fair	value	of	the	consumer	loans	is	discounted	cash	flows.		Available-for-sale	securities	and	trading	account	securitiesSecurities	accounted	for	at	fair	value	include	both	the	available-for-sale	and	trading	portfolios.		Huntington	determines	the	fair	value	of	securities	utilizing	quoted	market	prices	obtained	for	identical	or	similar	assets,	third-party	pricing	services,	third-party	valuation	specialists	and	other	observable	inputs	such	as	recent	trade	observations.		AFS	and	trading	securities	classified	as	Level	1	use	quoted	market	prices	(unadjusted)	in	active	markets	for	identical	securities	at	the	measurement	date.		Less	than	1%	of	the	positions	in	these	portfolios	are	Level	1,	and	consist	of	U.S.	Treasury	securities	and	money	market	mutual	funds.		When	quoted	market	prices	are	not	available,	fair	values	are	classified	as	Level	2	using	quoted	prices	for	similar	assets	in	active	markets,	quoted	prices	of	identical	or	similar	assets	in	markets	that	are	not	active,	and	inputs	that	are	observable	for	the	asset,	either	directly	or	indirectly,	for	substantially	the	full	term	of	the	financial	instrument.		Level	2	represents	82%	of	the	positions	in	these	portfolios,	which	consists	of	U.S.	Government	and	agency	debt	securities,	agency	mortgage	backed	securities,	private-label	asset-backed	securities,	certain	municipal	securities	and	other	securities.		For	Level	2	securities	Huntington	primarily	uses	prices	obtained	from	third-party	pricing	services	to	determine	the	fair	value	of	securities.		Huntington	independently	evaluates	and	corroborates	the	fair	value	received	from	pricing	services	through	various	methods	and	techniques,	including	references	to	dealer	or	other	market	quotes,	by	reviewing	valuations	of	comparable	instruments,	and	by	comparing	the	prices	realized	on	the	sale	of	similar	securities.		If	relevant	market	prices	are	limited	or	unavailable,	valuations	may	require	significant	management	judgment	or	estimation	to	determine	fair	value,	in	which	case	the	fair	values	are	classified	as	Level	3,	which	represent	18%	of	the	positions.		The	Level	3	positions	predominantly	consist	of	direct	purchase	municipal	securities.		A	significant	change	in	the	unobservable	inputs	for	these	securities	may	result	in	a	significant	change	in	the	ending	fair	value	measurement	of	these	securities.The	direct	purchase	municipal	securities	are	classified	as	Level	3	and	require	significant	estimates	to	determine	fair	value	which	results	in	greater	subjectivity.		The	fair	value	is	determined	by	utilizing	a	discounted	cash	flow	valuation	technique	employed	by	a	third-party	valuation	specialist.		The	third-party	specialist	uses	assumptions	related	to	yield,	prepayment	speed,	conditional	default	rates	and	loss	severity	based	on	certain	factors	such	as,	2020	Form	10-K					153credit	worthiness	of	the	counterparty,	prevailing	market	rates,	and	analysis	of	similar	securities.		Huntington	evaluates	the	fair	values	provided	by	the	third-party	specialist	for	reasonableness.Derivative	assets	and	liabilitiesDerivatives	classified	as	Level	2	consist	of	foreign	exchange	and	commodity	contracts,	which	are	valued	using	exchange	traded	swaps	and	futures	market	data.		In	addition,	Level	2	includes	interest	rate	contracts,	which	are	valued	using	a	discounted	cash	flow	method	that	incorporates	current	market	interest	rates.		Level	2	also	includes	exchange	traded	options	and	forward	commitments	to	deliver	mortgage-backed	securities,	which	are	valued	using	quoted	prices.Derivatives	classified	as	Level	3	consist	of	interest	rate	lock	agreements	related	to	mortgage	loan	commitments	and	the	Visa®	share	swap.		The	determination	of	fair	value	of	the	interest	rate	locks	includes	assumptions	related	to	the	likelihood	that	a	commitment	will	ultimately	result	in	a	closed	loan,	which	is	a	significant	unobservable	assumption.		A	significant	increase	or	decrease	in	the	external	market	price	would	result	in	a	significantly	higher	or	lower	fair	value	measurement.Assets	and	Liabilities	measured	at	fair	value	on	a	recurring	basisAssets	and	liabilities	measured	at	fair	value	on	a	recurring	basis	at	December	31,	2020	and	2019	are	summarized	below:Fair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Municipal	securities$	—	$	62	$	—	$	—	$	62	Available-for-sale	securities:U.S.	Treasury	securities	5		—		—		—		5	Residential	CMOs	—		3,666		—		—		3,666	Residential	MBS	—		7,935		—		—		7,935	Commercial	MBS	—		1,163		—		—		1,163	Other	agencies	—		62		—		—		62	Municipal	securities	—		53		2,951		—		3,004	Private-label	CMO	—		—		9		—		9	Asset-backed	securities	—		182		10		—		192	Corporate	debt	—		445		—		—		445	Other	securities/sovereign	debt	—		4		—		—		4		5		13,510		2,970		—		16,485	Other	securities	59		—		—		—		59	Loans	held	for	sale	—		1,198		—		—		1,198	Loans	held	for	investment	—		71		23		—		94	MSRs	—		—		210		—		210	Derivative	assets	—		1,903		43		(889)		1,057	LiabilitiesDerivative	liabilities	—		1,031		2		(917)		116	154					Huntington	Bancshares	IncorporatedFair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Federal	agencies:	Other	agencies$	—	$	4	$	—	$	—	$	4	Municipal	securities	—		63		—		—		63	Other	securities	30		2		—		—		32		30		69		—		—		99	Available-for-sale	securities:U.S.	Treasury	securities	10		—		—		—		10	Residential	CMOs	—		5,085		—		—		5,085	Residential	MBS	—		4,222		—		—		4,222	Commercial	MBS	—		976		—		—		976	Other	agencies	—		165		—		—		165	Municipal	securities	—		56		2,999		—		3,055	Private-label	CMO	—		—		2		—		2	Asset-backed	securities	—		531		48		—		579	Corporate	debt	—		51		—		—		51	Other	securities/sovereign	debt	—		4		—		—		4		10		11,090		3,049		—		14,149	Other	securities	54		—		—		—		54	Loans	held	for	sale	—		781		—		—		781	Loans	held	for	investment	—		55		26		—		81	MSRs	—		—		7		—		7	Derivative	assets	—		848		8		(404)		452	LiabilitiesDerivative	liabilities	—		519		2		(417)		104	(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.2020	Form	10-K					155credit	worthiness	of	the	counterparty,	prevailing	market	rates,	and	analysis	of	similar	securities.		Huntington	evaluates	the	fair	values	provided	by	the	third-party	specialist	for	reasonableness.Derivative	assets	and	liabilitiesDerivatives	classified	as	Level	2	consist	of	foreign	exchange	and	commodity	contracts,	which	are	valued	using	exchange	traded	swaps	and	futures	market	data.		In	addition,	Level	2	includes	interest	rate	contracts,	which	are	valued	using	a	discounted	cash	flow	method	that	incorporates	current	market	interest	rates.		Level	2	also	includes	exchange	traded	options	and	forward	commitments	to	deliver	mortgage-backed	securities,	which	are	valued	using	quoted	prices.Derivatives	classified	as	Level	3	consist	of	interest	rate	lock	agreements	related	to	mortgage	loan	commitments	and	the	Visa®	share	swap.		The	determination	of	fair	value	of	the	interest	rate	locks	includes	assumptions	related	to	the	likelihood	that	a	commitment	will	ultimately	result	in	a	closed	loan,	which	is	a	significant	unobservable	assumption.		A	significant	increase	or	decrease	in	the	external	market	price	would	result	in	a	significantly	higher	or	lower	fair	value	measurement.Assets	and	Liabilities	measured	at	fair	value	on	a	recurring	basisAssets	and	liabilities	measured	at	fair	value	on	a	recurring	basis	at	December	31,	2020	and	2019	are	summarized	below:Fair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Municipal	securities$	—	$	62	$	—	$	—	$	62	Available-for-sale	securities:U.S.	Treasury	securities	5		—		—		—		5	Residential	CMOs	—		3,666		—		—		3,666	Residential	MBS	—		7,935		—		—		7,935	Commercial	MBS	—		1,163		—		—		1,163	Other	agencies	—		62		—		—		62	Municipal	securities	—		53		2,951		—		3,004	Private-label	CMO	—		—		9		—		9	Asset-backed	securities	—		182		10		—		192	Corporate	debt	—		445		—		—		445	Other	securities/sovereign	debt	—		4		—		—		4		5		13,510		2,970		—		16,485	Other	securities	59		—		—		—		59	Loans	held	for	sale	—		1,198		—		—		1,198	Loans	held	for	investment	—		71		23		—		94	MSRs	—		—		210		—		210	Derivative	assets	—		1,903		43		(889)		1,057	LiabilitiesDerivative	liabilities	—		1,031		2		(917)		116	154					Huntington	Bancshares	IncorporatedFair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Federal	agencies:	Other	agencies$	—	$	4	$	—	$	—	$	4	Municipal	securities	—		63		—		—		63	Other	securities	30		2		—		—		32		30		69		—		—		99	Available-for-sale	securities:U.S.	Treasury	securities	10		—		—		—		10	Residential	CMOs	—		5,085		—		—		5,085	Residential	MBS	—		4,222		—		—		4,222	Commercial	MBS	—		976		—		—		976	Other	agencies	—		165		—		—		165	Municipal	securities	—		56		2,999		—		3,055	Private-label	CMO	—		—		2		—		2	Asset-backed	securities	—		531		48		—		579	Corporate	debt	—		51		—		—		51	Other	securities/sovereign	debt	—		4		—		—		4		10		11,090		3,049		—		14,149	Other	securities	54		—		—		—		54	Loans	held	for	sale	—		781		—		—		781	Loans	held	for	investment	—		55		26		—		81	MSRs	—		—		7		—		7	Derivative	assets	—		848		8		(404)		452	LiabilitiesDerivative	liabilities	—		519		2		(417)		104	(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.2020	Form	10-K					155credit	worthiness	of	the	counterparty,	prevailing	market	rates,	and	analysis	of	similar	securities.		Huntington	evaluates	the	fair	values	provided	by	the	third-party	specialist	for	reasonableness.Derivative	assets	and	liabilitiesDerivatives	classified	as	Level	2	consist	of	foreign	exchange	and	commodity	contracts,	which	are	valued	using	exchange	traded	swaps	and	futures	market	data.		In	addition,	Level	2	includes	interest	rate	contracts,	which	are	valued	using	a	discounted	cash	flow	method	that	incorporates	current	market	interest	rates.		Level	2	also	includes	exchange	traded	options	and	forward	commitments	to	deliver	mortgage-backed	securities,	which	are	valued	using	quoted	prices.Derivatives	classified	as	Level	3	consist	of	interest	rate	lock	agreements	related	to	mortgage	loan	commitments	and	the	Visa®	share	swap.		The	determination	of	fair	value	of	the	interest	rate	locks	includes	assumptions	related	to	the	likelihood	that	a	commitment	will	ultimately	result	in	a	closed	loan,	which	is	a	significant	unobservable	assumption.		A	significant	increase	or	decrease	in	the	external	market	price	would	result	in	a	significantly	higher	or	lower	fair	value	measurement.Assets	and	Liabilities	measured	at	fair	value	on	a	recurring	basisAssets	and	liabilities	measured	at	fair	value	on	a	recurring	basis	at	December	31,	2020	and	2019	are	summarized	below:Fair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Municipal	securities$	—	$	62	$	—	$	—	$	62	Available-for-sale	securities:U.S.	Treasury	securities	5		—		—		—		5	Residential	CMOs	—		3,666		—		—		3,666	Residential	MBS	—		7,935		—		—		7,935	Commercial	MBS	—		1,163		—		—		1,163	Other	agencies	—		62		—		—		62	Municipal	securities	—		53		2,951		—		3,004	Private-label	CMO	—		—		9		—		9	Asset-backed	securities	—		182		10		—		192	Corporate	debt	—		445		—		—		445	Other	securities/sovereign	debt	—		4		—		—		4		5		13,510		2,970		—		16,485	Other	securities	59		—		—		—		59	Loans	held	for	sale	—		1,198		—		—		1,198	Loans	held	for	investment	—		71		23		—		94	MSRs	—		—		210		—		210	Derivative	assets	—		1,903		43		(889)		1,057	LiabilitiesDerivative	liabilities	—		1,031		2		(917)		116	154					Huntington	Bancshares	IncorporatedFair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Federal	agencies:	Other	agencies$	—	$	4	$	—	$	—	$	4	Municipal	securities	—		63		—		—		63	Other	securities	30		2		—		—		32		30		69		—		—		99	Available-for-sale	securities:U.S.	Treasury	securities	10		—		—		—		10	Residential	CMOs	—		5,085		—		—		5,085	Residential	MBS	—		4,222		—		—		4,222	Commercial	MBS	—		976		—		—		976	Other	agencies	—		165		—		—		165	Municipal	securities	—		56		2,999		—		3,055	Private-label	CMO	—		—		2		—		2	Asset-backed	securities	—		531		48		—		579	Corporate	debt	—		51		—		—		51	Other	securities/sovereign	debt	—		4		—		—		4		10		11,090		3,049		—		14,149	Other	securities	54		—		—		—		54	Loans	held	for	sale	—		781		—		—		781	Loans	held	for	investment	—		55		26		—		81	MSRs	—		—		7		—		7	Derivative	assets	—		848		8		(404)		452	LiabilitiesDerivative	liabilities	—		519		2		(417)		104	(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.2020	Form	10-K					155credit	worthiness	of	the	counterparty,	prevailing	market	rates,	and	analysis	of	similar	securities.		Huntington	evaluates	the	fair	values	provided	by	the	third-party	specialist	for	reasonableness.Derivative	assets	and	liabilitiesDerivatives	classified	as	Level	2	consist	of	foreign	exchange	and	commodity	contracts,	which	are	valued	using	exchange	traded	swaps	and	futures	market	data.		In	addition,	Level	2	includes	interest	rate	contracts,	which	are	valued	using	a	discounted	cash	flow	method	that	incorporates	current	market	interest	rates.		Level	2	also	includes	exchange	traded	options	and	forward	commitments	to	deliver	mortgage-backed	securities,	which	are	valued	using	quoted	prices.Derivatives	classified	as	Level	3	consist	of	interest	rate	lock	agreements	related	to	mortgage	loan	commitments	and	the	Visa®	share	swap.		The	determination	of	fair	value	of	the	interest	rate	locks	includes	assumptions	related	to	the	likelihood	that	a	commitment	will	ultimately	result	in	a	closed	loan,	which	is	a	significant	unobservable	assumption.		A	significant	increase	or	decrease	in	the	external	market	price	would	result	in	a	significantly	higher	or	lower	fair	value	measurement.Assets	and	Liabilities	measured	at	fair	value	on	a	recurring	basisAssets	and	liabilities	measured	at	fair	value	on	a	recurring	basis	at	December	31,	2020	and	2019	are	summarized	below:Fair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Municipal	securities$	—	$	62	$	—	$	—	$	62	Available-for-sale	securities:U.S.	Treasury	securities	5		—		—		—		5	Residential	CMOs	—		3,666		—		—		3,666	Residential	MBS	—		7,935		—		—		7,935	Commercial	MBS	—		1,163		—		—		1,163	Other	agencies	—		62		—		—		62	Municipal	securities	—		53		2,951		—		3,004	Private-label	CMO	—		—		9		—		9	Asset-backed	securities	—		182		10		—		192	Corporate	debt	—		445		—		—		445	Other	securities/sovereign	debt	—		4		—		—		4		5		13,510		2,970		—		16,485	Other	securities	59		—		—		—		59	Loans	held	for	sale	—		1,198		—		—		1,198	Loans	held	for	investment	—		71		23		—		94	MSRs	—		—		210		—		210	Derivative	assets	—		1,903		43		(889)		1,057	LiabilitiesDerivative	liabilities	—		1,031		2		(917)		116	154					Huntington	Bancshares	IncorporatedFair	Value	Measurements	at	Reporting	Date	UsingNetting	Adjustments	(1)December	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3AssetsTrading	account	securities:Federal	agencies:	Other	agencies$	—	$	4	$	—	$	—	$	4	Municipal	securities	—		63		—		—		63	Other	securities	30		2		—		—		32		30		69		—		—		99	Available-for-sale	securities:U.S.	Treasury	securities	10		—		—		—		10	Residential	CMOs	—		5,085		—		—		5,085	Residential	MBS	—		4,222		—		—		4,222	Commercial	MBS	—		976		—		—		976	Other	agencies	—		165		—		—		165	Municipal	securities	—		56		2,999		—		3,055	Private-label	CMO	—		—		2		—		2	Asset-backed	securities	—		531		48		—		579	Corporate	debt	—		51		—		—		51	Other	securities/sovereign	debt	—		4		—		—		4		10		11,090		3,049		—		14,149	Other	securities	54		—		—		—		54	Loans	held	for	sale	—		781		—		—		781	Loans	held	for	investment	—		55		26		—		81	MSRs	—		—		7		—		7	Derivative	assets	—		848		8		(404)		452	LiabilitiesDerivative	liabilities	—		519		2		(417)		104	(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.2020	Form	10-K					155The	tables	below	present	a	rollforward	of	the	balance	sheet	amounts	for	the	years	ended	December	31,	2020,	2019,	and	2018	for	financial	instruments	measured	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	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesLoans	held	for	investmentOpening	balance$	7	$	6	$	2,999	$ 2 $	48	$	26	Fair	value	election	for	serving	assets	previously	measured	using	the	amortized	method	205		—		—		—		—	Transfers	out	of	Level	3	(1)	—		(198)		—	 — 	—		—	Total	gains/losses	for	the	period:Included	in	earnings	(104)		233		(2)	 — 	—		—	Included	in	OCI	—		—		65	 — 	—		—	Purchases/originations	102		—		623		7		28		—	Repayments	—		—		—	 — 	—		(3)	Settlements	—		—		(734)	 — 	(66)		—	Closing	balance$	210	$	41	$	2,951	$	9	$	10	$	23	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	for	assets	held	at	end	of	the	reporting	date$	(104)	$	34	$	—	$ — $	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period	$	—	$	—	$	68	$	—	$	—	$	—	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesOpening	balance$	10	$	2	$	3,165	$	—	$	—	$	30	Transfers	out	of	Level	3	(1)	—		(62)		—		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(3)		66		(1)		—		—		1	Included	in	OCI	—		—		77		—		—		—	Purchases/originations	—		—		254		2		55		—	Repayments	—		—		—		—		—		(5)	Settlements	—		—		(496)		—		(7)		—	Closing	balance$	7	$	6	$	2,999	$	2	$	48	$	26	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(3)	$	3	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	74	$	—	$	—	$	—	156					Huntington	Bancshares	IncorporatedLevel	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesOpening	balance$	11	$	(1)	$	3,167	$	24	$	38	Transfers	out	of	Level	3	(1)	—		(35)		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(1)		35		(3)		(2)		—	Included	in	OCI	—		—		(52)		11		—	Purchases/originations	—		—		658		—		—	Sales	—		—		—		(33)		—	Repayments	—		—		—		—		(8)	Settlements	—		3		(605)		—		—	Closing	balance$	10	$	2	$	3,165	$	—	$	30	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(1)	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	(52)	$	—	$	—	(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.	The	tables	below	summarize	the	classification	of	gains	and	losses	due	to	changes	in	fair	value,	recorded	in	earnings	for	Level	3	assets	and	liabilities	for	the	years	ended	December	31,	2020,	2019,	and	2018:Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(104)	$	233	$	—	Interest	and	fee	income	—		—		(2)	Total$	(104)	$	233	$	(2)	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(3)	$	66	$	—	$	—	Interest	and	fee	income	—		—		(1)		1	Total$	(3)	$	66	$	(1)	$	1	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income	(loss)$	(1)	$	35	$	—	$	—	Securities	gains	(losses)	—		—		—		(2)	Interest	and	fee	income	—		—		(3)		—	Total$	(1)	$	35	$	(3)	$	(2)	2020	Form	10-K					157The	tables	below	present	a	rollforward	of	the	balance	sheet	amounts	for	the	years	ended	December	31,	2020,	2019,	and	2018	for	financial	instruments	measured	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	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesLoans	held	for	investmentOpening	balance$	7	$	6	$	2,999	$ 2 $	48	$	26	Fair	value	election	for	serving	assets	previously	measured	using	the	amortized	method	205		—		—		—		—	Transfers	out	of	Level	3	(1)	—		(198)		—	 — 	—		—	Total	gains/losses	for	the	period:Included	in	earnings	(104)		233		(2)	 — 	—		—	Included	in	OCI	—		—		65	 — 	—		—	Purchases/originations	102		—		623		7		28		—	Repayments	—		—		—	 — 	—		(3)	Settlements	—		—		(734)	 — 	(66)		—	Closing	balance$	210	$	41	$	2,951	$	9	$	10	$	23	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	for	assets	held	at	end	of	the	reporting	date$	(104)	$	34	$	—	$ — $	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period	$	—	$	—	$	68	$	—	$	—	$	—	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesOpening	balance$	10	$	2	$	3,165	$	—	$	—	$	30	Transfers	out	of	Level	3	(1)	—		(62)		—		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(3)		66		(1)		—		—		1	Included	in	OCI	—		—		77		—		—		—	Purchases/originations	—		—		254		2		55		—	Repayments	—		—		—		—		—		(5)	Settlements	—		—		(496)		—		(7)		—	Closing	balance$	7	$	6	$	2,999	$	2	$	48	$	26	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(3)	$	3	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	74	$	—	$	—	$	—	156					Huntington	Bancshares	IncorporatedLevel	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesOpening	balance$	11	$	(1)	$	3,167	$	24	$	38	Transfers	out	of	Level	3	(1)	—		(35)		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(1)		35		(3)		(2)		—	Included	in	OCI	—		—		(52)		11		—	Purchases/originations	—		—		658		—		—	Sales	—		—		—		(33)		—	Repayments	—		—		—		—		(8)	Settlements	—		3		(605)		—		—	Closing	balance$	10	$	2	$	3,165	$	—	$	30	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(1)	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	(52)	$	—	$	—	(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.	The	tables	below	summarize	the	classification	of	gains	and	losses	due	to	changes	in	fair	value,	recorded	in	earnings	for	Level	3	assets	and	liabilities	for	the	years	ended	December	31,	2020,	2019,	and	2018:Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(104)	$	233	$	—	Interest	and	fee	income	—		—		(2)	Total$	(104)	$	233	$	(2)	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(3)	$	66	$	—	$	—	Interest	and	fee	income	—		—		(1)		1	Total$	(3)	$	66	$	(1)	$	1	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income	(loss)$	(1)	$	35	$	—	$	—	Securities	gains	(losses)	—		—		—		(2)	Interest	and	fee	income	—		—		(3)		—	Total$	(1)	$	35	$	(3)	$	(2)	2020	Form	10-K					157The	tables	below	present	a	rollforward	of	the	balance	sheet	amounts	for	the	years	ended	December	31,	2020,	2019,	and	2018	for	financial	instruments	measured	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	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesLoans	held	for	investmentOpening	balance$	7	$	6	$	2,999	$ 2 $	48	$	26	Fair	value	election	for	serving	assets	previously	measured	using	the	amortized	method	205		—		—		—		—	Transfers	out	of	Level	3	(1)	—		(198)		—	 — 	—		—	Total	gains/losses	for	the	period:Included	in	earnings	(104)		233		(2)	 — 	—		—	Included	in	OCI	—		—		65	 — 	—		—	Purchases/originations	102		—		623		7		28		—	Repayments	—		—		—	 — 	—		(3)	Settlements	—		—		(734)	 — 	(66)		—	Closing	balance$	210	$	41	$	2,951	$	9	$	10	$	23	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	for	assets	held	at	end	of	the	reporting	date$	(104)	$	34	$	—	$ — $	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period	$	—	$	—	$	68	$	—	$	—	$	—	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesOpening	balance$	10	$	2	$	3,165	$	—	$	—	$	30	Transfers	out	of	Level	3	(1)	—		(62)		—		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(3)		66		(1)		—		—		1	Included	in	OCI	—		—		77		—		—		—	Purchases/originations	—		—		254		2		55		—	Repayments	—		—		—		—		—		(5)	Settlements	—		—		(496)		—		(7)		—	Closing	balance$	7	$	6	$	2,999	$	2	$	48	$	26	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(3)	$	3	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	74	$	—	$	—	$	—	156					Huntington	Bancshares	IncorporatedLevel	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesOpening	balance$	11	$	(1)	$	3,167	$	24	$	38	Transfers	out	of	Level	3	(1)	—		(35)		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(1)		35		(3)		(2)		—	Included	in	OCI	—		—		(52)		11		—	Purchases/originations	—		—		658		—		—	Sales	—		—		—		(33)		—	Repayments	—		—		—		—		(8)	Settlements	—		3		(605)		—		—	Closing	balance$	10	$	2	$	3,165	$	—	$	30	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(1)	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	(52)	$	—	$	—	(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.	The	tables	below	summarize	the	classification	of	gains	and	losses	due	to	changes	in	fair	value,	recorded	in	earnings	for	Level	3	assets	and	liabilities	for	the	years	ended	December	31,	2020,	2019,	and	2018:Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(104)	$	233	$	—	Interest	and	fee	income	—		—		(2)	Total$	(104)	$	233	$	(2)	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(3)	$	66	$	—	$	—	Interest	and	fee	income	—		—		(1)		1	Total$	(3)	$	66	$	(1)	$	1	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income	(loss)$	(1)	$	35	$	—	$	—	Securities	gains	(losses)	—		—		—		(2)	Interest	and	fee	income	—		—		(3)		—	Total$	(1)	$	35	$	(3)	$	(2)	2020	Form	10-K					157The	tables	below	present	a	rollforward	of	the	balance	sheet	amounts	for	the	years	ended	December	31,	2020,	2019,	and	2018	for	financial	instruments	measured	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	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesLoans	held	for	investmentOpening	balance$	7	$	6	$	2,999	$ 2 $	48	$	26	Fair	value	election	for	serving	assets	previously	measured	using	the	amortized	method	205		—		—		—		—	Transfers	out	of	Level	3	(1)	—		(198)		—	 — 	—		—	Total	gains/losses	for	the	period:Included	in	earnings	(104)		233		(2)	 — 	—		—	Included	in	OCI	—		—		65	 — 	—		—	Purchases/originations	102		—		623		7		28		—	Repayments	—		—		—	 — 	—		(3)	Settlements	—		—		(734)	 — 	(66)		—	Closing	balance$	210	$	41	$	2,951	$	9	$	10	$	23	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	for	assets	held	at	end	of	the	reporting	date$	(104)	$	34	$	—	$ — $	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period	$	—	$	—	$	68	$	—	$	—	$	—	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesPrivate-labelCMOAsset-backedsecuritiesOpening	balance$	10	$	2	$	3,165	$	—	$	—	$	30	Transfers	out	of	Level	3	(1)	—		(62)		—		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(3)		66		(1)		—		—		1	Included	in	OCI	—		—		77		—		—		—	Purchases/originations	—		—		254		2		55		—	Repayments	—		—		—		—		—		(5)	Settlements	—		—		(496)		—		(7)		—	Closing	balance$	7	$	6	$	2,999	$	2	$	48	$	26	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(3)	$	3	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	74	$	—	$	—	$	—	156					Huntington	Bancshares	IncorporatedLevel	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesOpening	balance$	11	$	(1)	$	3,167	$	24	$	38	Transfers	out	of	Level	3	(1)	—		(35)		—		—		—	Total	gains/losses	for	the	period:Included	in	earnings	(1)		35		(3)		(2)		—	Included	in	OCI	—		—		(52)		11		—	Purchases/originations	—		—		658		—		—	Sales	—		—		—		(33)		—	Repayments	—		—		—		—		(8)	Settlements	—		3		(605)		—		—	Closing	balance$	10	$	2	$	3,165	$	—	$	30	Change	in	unrealized	gains	or	losses	for	the	period	included	in	earnings	(or	changes	in	net	assets)	for	assets	held	at	end	of	the	reporting	date$	(1)	$	—	$	—	$	—	$	—	Change	in	unrealized	gains	or	losses	for	the	period	included	in	other	comprehensive	income	for	assets	held	at	the	end	of	the	reporting	period$	—	$	—	$	(52)	$	—	$	—	(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.	The	tables	below	summarize	the	classification	of	gains	and	losses	due	to	changes	in	fair	value,	recorded	in	earnings	for	Level	3	assets	and	liabilities	for	the	years	ended	December	31,	2020,	2019,	and	2018:Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2020Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(104)	$	233	$	—	Interest	and	fee	income	—		—		(2)	Total$	(104)	$	233	$	(2)	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2019Available-for-sale	securitiesLoans	held	for	investment(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income$	(3)	$	66	$	—	$	—	Interest	and	fee	income	—		—		(1)		1	Total$	(3)	$	66	$	(1)	$	1	Level	3	Fair	Value	MeasurementsYear	Ended	December	31,	2018			Available-for-sale	securities(dollar	amounts	in	millions)MSRsDerivativeinstrumentsMunicipalsecuritiesAsset-backedsecuritiesClassification	of	gains	and	losses	in	earnings:Mortgage	banking	income	(loss)$	(1)	$	35	$	—	$	—	Securities	gains	(losses)	—		—		—		(2)	Interest	and	fee	income	—		—		(3)		—	Total$	(1)	$	35	$	(3)	$	(2)	2020	Form	10-K					157Assets	and	liabilities	under	the	fair	value	optionThe	following	tables	present	the	fair	value	and	aggregate	principal	balance	of	certain	assets	and	liabilities	under	the	fair	value	option:	December	31,	2020Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	1,198	$	1,134	$	64	$	2	$	2	$	—	Loans	held	for	investment	94		99		(5)		7		8		(1)	December	31,	2019Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	781	$	755	$	26	$	2	$	2	$	—	Loans	held	for	investment	81		87	$	(6)		3		4		(1)	The	following	tables	present	the	net	gains	from	fair	value	changes	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Net	gains	(losses)	from	fair	valuechanges	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018AssetsLoans	held	for	sale	(1)$	38	$	7	$	5	Loans	held	for	investment	1		1		—	(1)The	net	gains	(losses)	from	fair	value	changes	are	included	in	Mortgage	banking	income	on	the	Consolidated	Statements	of	Income.Assets	and	Liabilities	measured	at	fair	value	on	a	nonrecurring	basisCertain	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,	such	as	when	there	is	evidence	of	impairment.		The	amounts	presented	represent	the	fair	value	on	the	various	measurement	dates	throughout	the	period.		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	at	December	31,	2020	were	as	follows:Fair	Value	Measurements	Using(dollar	amounts	in	millions)Fair	ValueQuoted	PricesIn	ActiveMarkets	forIdentical	Assets(Level	1)SignificantOtherObservableInputs(Level	2)SignificantOtherUnobservableInputs(Level	3)TotalGains/(Losses)	Year	Ended	December	31,	2020Collateral-dependent	loans$	144	$	—	$	—	$	144	$	(43)	Loans	held	for	sale	124		—		—		124		(63)	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.Loans	held	for	sale	are	measured	at	lower	of	cost	or	fair	value	less	costs	to	sell.		The	fair	value	of	loans	held	for	sale	is	based	on	binding	or	non-binding	bids	for	the	respective	loans	or	similar	loans.158					Huntington	Bancshares	IncorporatedSignificant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basisThe	table	below	presents	quantitative	information	about	the	significant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basis	at	December	31,	2020	and	2019:Quantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2020	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	210	Discounted	cash	flowConstant	prepayment	rate	8	%-	24	%	17	%Spread	over	forward	interest	rate	swap	rates	4	%-	11	%	5	%Derivative	assets	43	Consensus	PricingNet	market	price	(4)	%-	11	%	3	%Estimated	Pull	through	%	1	%-	100	%	88	%Municipal	securities	2,951	Discounted	cash	flowDiscount	rate	—	%-	1	%	1	%Asset-backed	securities	10	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	25	%Measured	at	fair	value	on	a	nonrecurring	basis:Collateral-dependent	loans	144	Appraisal	valueNANAQuantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2019	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	7	Discounted	cash	flowConstant	prepayment	rate	—	%-	26	%	8	%Spread	over	forward	interest	rate	swap	rates	5	%-	11	%	8	%Derivative	assets	8	Consensus	PricingNet	market	price	(2)	%-	11	%	2	%Estimated	Pull	through	%	2	%-	100	%	91	%Municipal	securities	2,999	Discounted	cash	flowDiscount	rate	2	%-	3	%	2	%Asset-backed	securities	48	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	24	%Measured	at	fair	value	on	a	nonrecurring	basis:MSRs	206	Discounted	cash	flowConstant	prepayment	rate	10	%	31	%	12	%Spread	over	forward	interest	rate	swap	rates	5	%	11	%	9	%Impaired	loans	26	Appraisal	valueNANA(1)		Certain	disclosures	related	to	quantitative	level	3	fair	value	measurements	do	not	include	those	deemed	to	be	immaterial.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.Credit	loss	estimates,	such	as	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.Net	market	price	and	pull	through	percentages	generally	increase	when	market	interest	rates	increase	and	decline	when	market	interest	rates	decline.		Higher	net	market	price	and	pull	through	percentages	generally	result	in	higher	fair	values.2020	Form	10-K					159Assets	and	liabilities	under	the	fair	value	optionThe	following	tables	present	the	fair	value	and	aggregate	principal	balance	of	certain	assets	and	liabilities	under	the	fair	value	option:	December	31,	2020Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	1,198	$	1,134	$	64	$	2	$	2	$	—	Loans	held	for	investment	94		99		(5)		7		8		(1)	December	31,	2019Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	781	$	755	$	26	$	2	$	2	$	—	Loans	held	for	investment	81		87	$	(6)		3		4		(1)	The	following	tables	present	the	net	gains	from	fair	value	changes	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Net	gains	(losses)	from	fair	valuechanges	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018AssetsLoans	held	for	sale	(1)$	38	$	7	$	5	Loans	held	for	investment	1		1		—	(1)The	net	gains	(losses)	from	fair	value	changes	are	included	in	Mortgage	banking	income	on	the	Consolidated	Statements	of	Income.Assets	and	Liabilities	measured	at	fair	value	on	a	nonrecurring	basisCertain	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,	such	as	when	there	is	evidence	of	impairment.		The	amounts	presented	represent	the	fair	value	on	the	various	measurement	dates	throughout	the	period.		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	at	December	31,	2020	were	as	follows:Fair	Value	Measurements	Using(dollar	amounts	in	millions)Fair	ValueQuoted	PricesIn	ActiveMarkets	forIdentical	Assets(Level	1)SignificantOtherObservableInputs(Level	2)SignificantOtherUnobservableInputs(Level	3)TotalGains/(Losses)	Year	Ended	December	31,	2020Collateral-dependent	loans$	144	$	—	$	—	$	144	$	(43)	Loans	held	for	sale	124		—		—		124		(63)	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.Loans	held	for	sale	are	measured	at	lower	of	cost	or	fair	value	less	costs	to	sell.		The	fair	value	of	loans	held	for	sale	is	based	on	binding	or	non-binding	bids	for	the	respective	loans	or	similar	loans.158					Huntington	Bancshares	IncorporatedSignificant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basisThe	table	below	presents	quantitative	information	about	the	significant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basis	at	December	31,	2020	and	2019:Quantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2020	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	210	Discounted	cash	flowConstant	prepayment	rate	8	%-	24	%	17	%Spread	over	forward	interest	rate	swap	rates	4	%-	11	%	5	%Derivative	assets	43	Consensus	PricingNet	market	price	(4)	%-	11	%	3	%Estimated	Pull	through	%	1	%-	100	%	88	%Municipal	securities	2,951	Discounted	cash	flowDiscount	rate	—	%-	1	%	1	%Asset-backed	securities	10	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	25	%Measured	at	fair	value	on	a	nonrecurring	basis:Collateral-dependent	loans	144	Appraisal	valueNANAQuantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2019	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	7	Discounted	cash	flowConstant	prepayment	rate	—	%-	26	%	8	%Spread	over	forward	interest	rate	swap	rates	5	%-	11	%	8	%Derivative	assets	8	Consensus	PricingNet	market	price	(2)	%-	11	%	2	%Estimated	Pull	through	%	2	%-	100	%	91	%Municipal	securities	2,999	Discounted	cash	flowDiscount	rate	2	%-	3	%	2	%Asset-backed	securities	48	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	24	%Measured	at	fair	value	on	a	nonrecurring	basis:MSRs	206	Discounted	cash	flowConstant	prepayment	rate	10	%	31	%	12	%Spread	over	forward	interest	rate	swap	rates	5	%	11	%	9	%Impaired	loans	26	Appraisal	valueNANA(1)		Certain	disclosures	related	to	quantitative	level	3	fair	value	measurements	do	not	include	those	deemed	to	be	immaterial.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.Credit	loss	estimates,	such	as	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.Net	market	price	and	pull	through	percentages	generally	increase	when	market	interest	rates	increase	and	decline	when	market	interest	rates	decline.		Higher	net	market	price	and	pull	through	percentages	generally	result	in	higher	fair	values.2020	Form	10-K					159Assets	and	liabilities	under	the	fair	value	optionThe	following	tables	present	the	fair	value	and	aggregate	principal	balance	of	certain	assets	and	liabilities	under	the	fair	value	option:	December	31,	2020Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	1,198	$	1,134	$	64	$	2	$	2	$	—	Loans	held	for	investment	94		99		(5)		7		8		(1)	December	31,	2019Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	781	$	755	$	26	$	2	$	2	$	—	Loans	held	for	investment	81		87	$	(6)		3		4		(1)	The	following	tables	present	the	net	gains	from	fair	value	changes	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Net	gains	(losses)	from	fair	valuechanges	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018AssetsLoans	held	for	sale	(1)$	38	$	7	$	5	Loans	held	for	investment	1		1		—	(1)The	net	gains	(losses)	from	fair	value	changes	are	included	in	Mortgage	banking	income	on	the	Consolidated	Statements	of	Income.Assets	and	Liabilities	measured	at	fair	value	on	a	nonrecurring	basisCertain	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,	such	as	when	there	is	evidence	of	impairment.		The	amounts	presented	represent	the	fair	value	on	the	various	measurement	dates	throughout	the	period.		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	at	December	31,	2020	were	as	follows:Fair	Value	Measurements	Using(dollar	amounts	in	millions)Fair	ValueQuoted	PricesIn	ActiveMarkets	forIdentical	Assets(Level	1)SignificantOtherObservableInputs(Level	2)SignificantOtherUnobservableInputs(Level	3)TotalGains/(Losses)	Year	Ended	December	31,	2020Collateral-dependent	loans$	144	$	—	$	—	$	144	$	(43)	Loans	held	for	sale	124		—		—		124		(63)	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.Loans	held	for	sale	are	measured	at	lower	of	cost	or	fair	value	less	costs	to	sell.		The	fair	value	of	loans	held	for	sale	is	based	on	binding	or	non-binding	bids	for	the	respective	loans	or	similar	loans.158					Huntington	Bancshares	IncorporatedSignificant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basisThe	table	below	presents	quantitative	information	about	the	significant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basis	at	December	31,	2020	and	2019:Quantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2020	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	210	Discounted	cash	flowConstant	prepayment	rate	8	%-	24	%	17	%Spread	over	forward	interest	rate	swap	rates	4	%-	11	%	5	%Derivative	assets	43	Consensus	PricingNet	market	price	(4)	%-	11	%	3	%Estimated	Pull	through	%	1	%-	100	%	88	%Municipal	securities	2,951	Discounted	cash	flowDiscount	rate	—	%-	1	%	1	%Asset-backed	securities	10	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	25	%Measured	at	fair	value	on	a	nonrecurring	basis:Collateral-dependent	loans	144	Appraisal	valueNANAQuantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2019	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	7	Discounted	cash	flowConstant	prepayment	rate	—	%-	26	%	8	%Spread	over	forward	interest	rate	swap	rates	5	%-	11	%	8	%Derivative	assets	8	Consensus	PricingNet	market	price	(2)	%-	11	%	2	%Estimated	Pull	through	%	2	%-	100	%	91	%Municipal	securities	2,999	Discounted	cash	flowDiscount	rate	2	%-	3	%	2	%Asset-backed	securities	48	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	24	%Measured	at	fair	value	on	a	nonrecurring	basis:MSRs	206	Discounted	cash	flowConstant	prepayment	rate	10	%	31	%	12	%Spread	over	forward	interest	rate	swap	rates	5	%	11	%	9	%Impaired	loans	26	Appraisal	valueNANA(1)		Certain	disclosures	related	to	quantitative	level	3	fair	value	measurements	do	not	include	those	deemed	to	be	immaterial.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.Credit	loss	estimates,	such	as	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.Net	market	price	and	pull	through	percentages	generally	increase	when	market	interest	rates	increase	and	decline	when	market	interest	rates	decline.		Higher	net	market	price	and	pull	through	percentages	generally	result	in	higher	fair	values.2020	Form	10-K					159Assets	and	liabilities	under	the	fair	value	optionThe	following	tables	present	the	fair	value	and	aggregate	principal	balance	of	certain	assets	and	liabilities	under	the	fair	value	option:	December	31,	2020Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	1,198	$	1,134	$	64	$	2	$	2	$	—	Loans	held	for	investment	94		99		(5)		7		8		(1)	December	31,	2019Total	LoansLoans	that	are	90	or	more	days	past	due(dollar	amounts	in	millions)Fair	valuecarryingamountAggregateunpaidprincipalDifferenceFair	valuecarryingamountAggregateunpaidprincipalDifferenceAssetsLoans	held	for	sale$	781	$	755	$	26	$	2	$	2	$	—	Loans	held	for	investment	81		87	$	(6)		3		4		(1)	The	following	tables	present	the	net	gains	from	fair	value	changes	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Net	gains	(losses)	from	fair	valuechanges	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018AssetsLoans	held	for	sale	(1)$	38	$	7	$	5	Loans	held	for	investment	1		1		—	(1)The	net	gains	(losses)	from	fair	value	changes	are	included	in	Mortgage	banking	income	on	the	Consolidated	Statements	of	Income.Assets	and	Liabilities	measured	at	fair	value	on	a	nonrecurring	basisCertain	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,	such	as	when	there	is	evidence	of	impairment.		The	amounts	presented	represent	the	fair	value	on	the	various	measurement	dates	throughout	the	period.		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	at	December	31,	2020	were	as	follows:Fair	Value	Measurements	Using(dollar	amounts	in	millions)Fair	ValueQuoted	PricesIn	ActiveMarkets	forIdentical	Assets(Level	1)SignificantOtherObservableInputs(Level	2)SignificantOtherUnobservableInputs(Level	3)TotalGains/(Losses)	Year	Ended	December	31,	2020Collateral-dependent	loans$	144	$	—	$	—	$	144	$	(43)	Loans	held	for	sale	124		—		—		124		(63)	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.Loans	held	for	sale	are	measured	at	lower	of	cost	or	fair	value	less	costs	to	sell.		The	fair	value	of	loans	held	for	sale	is	based	on	binding	or	non-binding	bids	for	the	respective	loans	or	similar	loans.158					Huntington	Bancshares	IncorporatedSignificant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basisThe	table	below	presents	quantitative	information	about	the	significant	unobservable	inputs	for	assets	and	liabilities	measured	at	fair	value	on	a	recurring	and	nonrecurring	basis	at	December	31,	2020	and	2019:Quantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2020	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	210	Discounted	cash	flowConstant	prepayment	rate	8	%-	24	%	17	%Spread	over	forward	interest	rate	swap	rates	4	%-	11	%	5	%Derivative	assets	43	Consensus	PricingNet	market	price	(4)	%-	11	%	3	%Estimated	Pull	through	%	1	%-	100	%	88	%Municipal	securities	2,951	Discounted	cash	flowDiscount	rate	—	%-	1	%	1	%Asset-backed	securities	10	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	25	%Measured	at	fair	value	on	a	nonrecurring	basis:Collateral-dependent	loans	144	Appraisal	valueNANAQuantitative	Information	about	Level	3	Fair	Value	Measurements	at	December	31,	2019	(1)(dollar	amounts	in	millions)Fair	ValueValuation	TechniqueSignificant	Unobservable	InputRangeWeighted	AverageMeasured	at	fair	value	on	a	recurring	basis:MSRs$	7	Discounted	cash	flowConstant	prepayment	rate	—	%-	26	%	8	%Spread	over	forward	interest	rate	swap	rates	5	%-	11	%	8	%Derivative	assets	8	Consensus	PricingNet	market	price	(2)	%-	11	%	2	%Estimated	Pull	through	%	2	%-	100	%	91	%Municipal	securities	2,999	Discounted	cash	flowDiscount	rate	2	%-	3	%	2	%Asset-backed	securities	48	Cumulative	default	—	%-	39	%	4	%Loss	given	default	5	%-	80	%	24	%Measured	at	fair	value	on	a	nonrecurring	basis:MSRs	206	Discounted	cash	flowConstant	prepayment	rate	10	%	31	%	12	%Spread	over	forward	interest	rate	swap	rates	5	%	11	%	9	%Impaired	loans	26	Appraisal	valueNANA(1)		Certain	disclosures	related	to	quantitative	level	3	fair	value	measurements	do	not	include	those	deemed	to	be	immaterial.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.Credit	loss	estimates,	such	as	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.Net	market	price	and	pull	through	percentages	generally	increase	when	market	interest	rates	increase	and	decline	when	market	interest	rates	decline.		Higher	net	market	price	and	pull	through	percentages	generally	result	in	higher	fair	values.2020	Form	10-K					159Fair	values	of	financial	instrumentsThe	following	table	provides	the	carrying	amounts	and	estimated	fair	values	of	Huntington’s	financial	instruments	at	December	31,	2020	and	December	31,	2019:December	31,	2020(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	6,712	$	—	$	—	$	6,712	$	6,712	Trading	account	securities	—		—		62		62		62	Available-for-sale	securities	—		—		16,485		16,485		16,485	Held-to-maturity	securities	8,861		—		—		8,861		9,255	Other	securities	359		—		59		418		418	Loans	held	for	sale	—		77		1,198		1,275		1,275	Net	loans	and	leases	(1)	79,700		—		94		79,794		80,477	Derivative	assets	—		—		1,057		1,057		1,057	Financial	LiabilitiesDeposits	98,948		—		—		98,948		99,021	Short-term	borrowings	183		—		—		183		183	Long-term	debt	8,352		—		—		8,352		8,568	Derivative	liabilities	—		—		116		116		116	December	31,	2019(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	1,272	$	—	$	—	$	1,272	$	1,272	Trading	account	securities	—		—		99		99		99	Available-for-sale	securities	—		—		14,149		14,149		14,149	Held-to-maturity	securities	9,070		—		—		9,070		9,186	Other	securities	387		—		54		441		441	Loans	held	for	sale	—		96		781		877		879	Net	loans	and	leases	(1)	74,540		—		81		74,621		75,177	Derivative	assets	—		—		452		452		452	Financial	LiabilitiesDeposits	82,347		—		—		82,347		82,344	Short-term	borrowings	2,606		—		—		2,606		2,606	Long-term	debt	9,849		—		—		9,849		10,075	Derivative	liabilities	—		—		104		104		104	(1)Includes	collateral-dependent	loans.160					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	level	in	the	fair	value	hierarchy	for	the	estimated	fair	values	at	December	31,	2020	and	December	31,	2019:Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	—	$	62	$	—	$	62	Available-for-sale	securities	5		13,510		2,970		16,485	Held-to-maturity	securities	—		9,255		—		9,255	Other	securities	(2)	59		—		—		59	Loans	held	for	sale	—		1,198		77		1,275	Net	loans	and	direct	financing	leases	—		71		80,406		80,477	Derivative	assets	—		1,903		43		(889)		1,057	Financial	LiabilitiesDeposits	—		96,656		2,365		99,021	Short-term	borrowings	—		183		—		183	Long-term	debt	—		7,999		569		8,568	Derivative	liabilities	—		1,031		2		(917)		116	Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	30	$	69	$	—	$	99	Available-for-sale	securities	10		11,090		3,049		14,149	Held-to-maturity	securities	—		9,186		—		9,186	Other	securities	(2)	54		—		—		54	Loans	held	for	sale	—		781		98		879	Net	loans	and	direct	financing	leases	—		55		75,122		75,177	Derivative	assets	—		848		8		(404)		452	Financial	LiabilitiesDeposits	—		76,790		5,554		82,344	Short-term	borrowings	—		—		2,606		2,606	Long-term	debt	—		9,439		636		10,075	Derivative	liabilities	—		519		2		(417)		104	(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.The	short-term	nature	of	certain	assets	and	liabilities	result	in	their	carrying	value	approximating	fair	value.		These	include	trading	account	securities,	customers’	acceptance	liabilities,	short-term	borrowings,	bank	acceptances	outstanding,	FHLB	advances,	and	cash	and	short-term	assets,	which	include	cash	and	due	from	banks,	interest-bearing	deposits	in	banks,	interest-bearing	deposits	at	Federal	Reserve	Bank,	federal	funds	sold,	and	securities	purchased	under	resale	agreements.		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,	deposit	base,	and	other	customer	relationship	intangibles	are	not	considered	financial	instruments	and	are	not	included	above.		Accordingly,	this	fair	value	information	is	not	intended	to,	and	does	not,	represent	Huntington’s	underlying	value.		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.2020	Form	10-K					161Fair	values	of	financial	instrumentsThe	following	table	provides	the	carrying	amounts	and	estimated	fair	values	of	Huntington’s	financial	instruments	at	December	31,	2020	and	December	31,	2019:December	31,	2020(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	6,712	$	—	$	—	$	6,712	$	6,712	Trading	account	securities	—		—		62		62		62	Available-for-sale	securities	—		—		16,485		16,485		16,485	Held-to-maturity	securities	8,861		—		—		8,861		9,255	Other	securities	359		—		59		418		418	Loans	held	for	sale	—		77		1,198		1,275		1,275	Net	loans	and	leases	(1)	79,700		—		94		79,794		80,477	Derivative	assets	—		—		1,057		1,057		1,057	Financial	LiabilitiesDeposits	98,948		—		—		98,948		99,021	Short-term	borrowings	183		—		—		183		183	Long-term	debt	8,352		—		—		8,352		8,568	Derivative	liabilities	—		—		116		116		116	December	31,	2019(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	1,272	$	—	$	—	$	1,272	$	1,272	Trading	account	securities	—		—		99		99		99	Available-for-sale	securities	—		—		14,149		14,149		14,149	Held-to-maturity	securities	9,070		—		—		9,070		9,186	Other	securities	387		—		54		441		441	Loans	held	for	sale	—		96		781		877		879	Net	loans	and	leases	(1)	74,540		—		81		74,621		75,177	Derivative	assets	—		—		452		452		452	Financial	LiabilitiesDeposits	82,347		—		—		82,347		82,344	Short-term	borrowings	2,606		—		—		2,606		2,606	Long-term	debt	9,849		—		—		9,849		10,075	Derivative	liabilities	—		—		104		104		104	(1)Includes	collateral-dependent	loans.160					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	level	in	the	fair	value	hierarchy	for	the	estimated	fair	values	at	December	31,	2020	and	December	31,	2019:Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	—	$	62	$	—	$	62	Available-for-sale	securities	5		13,510		2,970		16,485	Held-to-maturity	securities	—		9,255		—		9,255	Other	securities	(2)	59		—		—		59	Loans	held	for	sale	—		1,198		77		1,275	Net	loans	and	direct	financing	leases	—		71		80,406		80,477	Derivative	assets	—		1,903		43		(889)		1,057	Financial	LiabilitiesDeposits	—		96,656		2,365		99,021	Short-term	borrowings	—		183		—		183	Long-term	debt	—		7,999		569		8,568	Derivative	liabilities	—		1,031		2		(917)		116	Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	30	$	69	$	—	$	99	Available-for-sale	securities	10		11,090		3,049		14,149	Held-to-maturity	securities	—		9,186		—		9,186	Other	securities	(2)	54		—		—		54	Loans	held	for	sale	—		781		98		879	Net	loans	and	direct	financing	leases	—		55		75,122		75,177	Derivative	assets	—		848		8		(404)		452	Financial	LiabilitiesDeposits	—		76,790		5,554		82,344	Short-term	borrowings	—		—		2,606		2,606	Long-term	debt	—		9,439		636		10,075	Derivative	liabilities	—		519		2		(417)		104	(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.The	short-term	nature	of	certain	assets	and	liabilities	result	in	their	carrying	value	approximating	fair	value.		These	include	trading	account	securities,	customers’	acceptance	liabilities,	short-term	borrowings,	bank	acceptances	outstanding,	FHLB	advances,	and	cash	and	short-term	assets,	which	include	cash	and	due	from	banks,	interest-bearing	deposits	in	banks,	interest-bearing	deposits	at	Federal	Reserve	Bank,	federal	funds	sold,	and	securities	purchased	under	resale	agreements.		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,	deposit	base,	and	other	customer	relationship	intangibles	are	not	considered	financial	instruments	and	are	not	included	above.		Accordingly,	this	fair	value	information	is	not	intended	to,	and	does	not,	represent	Huntington’s	underlying	value.		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.2020	Form	10-K					161Fair	values	of	financial	instrumentsThe	following	table	provides	the	carrying	amounts	and	estimated	fair	values	of	Huntington’s	financial	instruments	at	December	31,	2020	and	December	31,	2019:December	31,	2020(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	6,712	$	—	$	—	$	6,712	$	6,712	Trading	account	securities	—		—		62		62		62	Available-for-sale	securities	—		—		16,485		16,485		16,485	Held-to-maturity	securities	8,861		—		—		8,861		9,255	Other	securities	359		—		59		418		418	Loans	held	for	sale	—		77		1,198		1,275		1,275	Net	loans	and	leases	(1)	79,700		—		94		79,794		80,477	Derivative	assets	—		—		1,057		1,057		1,057	Financial	LiabilitiesDeposits	98,948		—		—		98,948		99,021	Short-term	borrowings	183		—		—		183		183	Long-term	debt	8,352		—		—		8,352		8,568	Derivative	liabilities	—		—		116		116		116	December	31,	2019(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	1,272	$	—	$	—	$	1,272	$	1,272	Trading	account	securities	—		—		99		99		99	Available-for-sale	securities	—		—		14,149		14,149		14,149	Held-to-maturity	securities	9,070		—		—		9,070		9,186	Other	securities	387		—		54		441		441	Loans	held	for	sale	—		96		781		877		879	Net	loans	and	leases	(1)	74,540		—		81		74,621		75,177	Derivative	assets	—		—		452		452		452	Financial	LiabilitiesDeposits	82,347		—		—		82,347		82,344	Short-term	borrowings	2,606		—		—		2,606		2,606	Long-term	debt	9,849		—		—		9,849		10,075	Derivative	liabilities	—		—		104		104		104	(1)Includes	collateral-dependent	loans.160					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	level	in	the	fair	value	hierarchy	for	the	estimated	fair	values	at	December	31,	2020	and	December	31,	2019:Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	—	$	62	$	—	$	62	Available-for-sale	securities	5		13,510		2,970		16,485	Held-to-maturity	securities	—		9,255		—		9,255	Other	securities	(2)	59		—		—		59	Loans	held	for	sale	—		1,198		77		1,275	Net	loans	and	direct	financing	leases	—		71		80,406		80,477	Derivative	assets	—		1,903		43		(889)		1,057	Financial	LiabilitiesDeposits	—		96,656		2,365		99,021	Short-term	borrowings	—		183		—		183	Long-term	debt	—		7,999		569		8,568	Derivative	liabilities	—		1,031		2		(917)		116	Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	30	$	69	$	—	$	99	Available-for-sale	securities	10		11,090		3,049		14,149	Held-to-maturity	securities	—		9,186		—		9,186	Other	securities	(2)	54		—		—		54	Loans	held	for	sale	—		781		98		879	Net	loans	and	direct	financing	leases	—		55		75,122		75,177	Derivative	assets	—		848		8		(404)		452	Financial	LiabilitiesDeposits	—		76,790		5,554		82,344	Short-term	borrowings	—		—		2,606		2,606	Long-term	debt	—		9,439		636		10,075	Derivative	liabilities	—		519		2		(417)		104	(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.The	short-term	nature	of	certain	assets	and	liabilities	result	in	their	carrying	value	approximating	fair	value.		These	include	trading	account	securities,	customers’	acceptance	liabilities,	short-term	borrowings,	bank	acceptances	outstanding,	FHLB	advances,	and	cash	and	short-term	assets,	which	include	cash	and	due	from	banks,	interest-bearing	deposits	in	banks,	interest-bearing	deposits	at	Federal	Reserve	Bank,	federal	funds	sold,	and	securities	purchased	under	resale	agreements.		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,	deposit	base,	and	other	customer	relationship	intangibles	are	not	considered	financial	instruments	and	are	not	included	above.		Accordingly,	this	fair	value	information	is	not	intended	to,	and	does	not,	represent	Huntington’s	underlying	value.		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.2020	Form	10-K					161Fair	values	of	financial	instrumentsThe	following	table	provides	the	carrying	amounts	and	estimated	fair	values	of	Huntington’s	financial	instruments	at	December	31,	2020	and	December	31,	2019:December	31,	2020(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	6,712	$	—	$	—	$	6,712	$	6,712	Trading	account	securities	—		—		62		62		62	Available-for-sale	securities	—		—		16,485		16,485		16,485	Held-to-maturity	securities	8,861		—		—		8,861		9,255	Other	securities	359		—		59		418		418	Loans	held	for	sale	—		77		1,198		1,275		1,275	Net	loans	and	leases	(1)	79,700		—		94		79,794		80,477	Derivative	assets	—		—		1,057		1,057		1,057	Financial	LiabilitiesDeposits	98,948		—		—		98,948		99,021	Short-term	borrowings	183		—		—		183		183	Long-term	debt	8,352		—		—		8,352		8,568	Derivative	liabilities	—		—		116		116		116	December	31,	2019(dollar	amounts	in	millions)Amortized	CostLower	of	Cost	or	MarketFair	Value	or	Fair	Value	OptionTotal	Carrying	AmountEstimated	Fair	ValueFinancial	AssetsCash	and	short-term	assets$	1,272	$	—	$	—	$	1,272	$	1,272	Trading	account	securities	—		—		99		99		99	Available-for-sale	securities	—		—		14,149		14,149		14,149	Held-to-maturity	securities	9,070		—		—		9,070		9,186	Other	securities	387		—		54		441		441	Loans	held	for	sale	—		96		781		877		879	Net	loans	and	leases	(1)	74,540		—		81		74,621		75,177	Derivative	assets	—		—		452		452		452	Financial	LiabilitiesDeposits	82,347		—		—		82,347		82,344	Short-term	borrowings	2,606		—		—		2,606		2,606	Long-term	debt	9,849		—		—		9,849		10,075	Derivative	liabilities	—		—		104		104		104	(1)Includes	collateral-dependent	loans.160					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	level	in	the	fair	value	hierarchy	for	the	estimated	fair	values	at	December	31,	2020	and	December	31,	2019:Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2020(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	—	$	62	$	—	$	62	Available-for-sale	securities	5		13,510		2,970		16,485	Held-to-maturity	securities	—		9,255		—		9,255	Other	securities	(2)	59		—		—		59	Loans	held	for	sale	—		1,198		77		1,275	Net	loans	and	direct	financing	leases	—		71		80,406		80,477	Derivative	assets	—		1,903		43		(889)		1,057	Financial	LiabilitiesDeposits	—		96,656		2,365		99,021	Short-term	borrowings	—		183		—		183	Long-term	debt	—		7,999		569		8,568	Derivative	liabilities	—		1,031		2		(917)		116	Estimated	Fair	Value	Measurements	at	Reporting	Date	UsingNettingDecember	31,	2019(dollar	amounts	in	millions)Level	1Level	2Level	3Adjustments	(1)Financial	AssetsTrading	account	securities$	30	$	69	$	—	$	99	Available-for-sale	securities	10		11,090		3,049		14,149	Held-to-maturity	securities	—		9,186		—		9,186	Other	securities	(2)	54		—		—		54	Loans	held	for	sale	—		781		98		879	Net	loans	and	direct	financing	leases	—		55		75,122		75,177	Derivative	assets	—		848		8		(404)		452	Financial	LiabilitiesDeposits	—		76,790		5,554		82,344	Short-term	borrowings	—		—		2,606		2,606	Long-term	debt	—		9,439		636		10,075	Derivative	liabilities	—		519		2		(417)		104	(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.The	short-term	nature	of	certain	assets	and	liabilities	result	in	their	carrying	value	approximating	fair	value.		These	include	trading	account	securities,	customers’	acceptance	liabilities,	short-term	borrowings,	bank	acceptances	outstanding,	FHLB	advances,	and	cash	and	short-term	assets,	which	include	cash	and	due	from	banks,	interest-bearing	deposits	in	banks,	interest-bearing	deposits	at	Federal	Reserve	Bank,	federal	funds	sold,	and	securities	purchased	under	resale	agreements.		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,	deposit	base,	and	other	customer	relationship	intangibles	are	not	considered	financial	instruments	and	are	not	included	above.		Accordingly,	this	fair	value	information	is	not	intended	to,	and	does	not,	represent	Huntington’s	underlying	value.		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.2020	Form	10-K					16121.	DERIVATIVE	FINANCIAL	INSTRUMENTSDerivative	financial	instruments	are	recorded	in	the	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	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019.		Amounts	in	the	table	below	are	presented	gross	without	the	impact	of	any	net	collateral	arrangements.December	31,	2020December	31,	2019(dollar	amounts	in	millions)Notional	ValueAssetLiabilityNotional	ValueAssetLiabilityDerivatives	designated	as	Hedging	InstrumentsInterest	rate	contracts$	27,056	$	719	$	51	$	25,927	$	256	$	36	Derivatives	not	designated	as	Hedging	InstrumentsInterest	rate	contracts	44,495		1,074		828		27,614		420		314	Foreign	exchange	contracts	2,718		46		47		2,173		19		18	Commodities	contracts	1,952		107		103		3,020		155		152	Equity	contracts	517		—		4		427		6		1	Total	Contracts$	76,738	$	1,946	$	1,033	$	59,161	$	856	$	521	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	Consolidated	Income	Statement	for	the	years	ended	December	31,	2020	and	2019.Location	of	Gain	or	(Loss)	Recognized	in	Income	on	DerivativeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contracts:CustomerCapital	markets	fees$	47	$	49	$	41	Mortgage	BankingMortgage	banking	income	52		37		(19)	Interest	rate	floorsInterest	and	fee	income	on	loans	and	leases	(2)		4		—	Interest	rate	capsInterest	expense	on	long-term	debt	5		—		—	Foreign	exchange	contractsCapital	markets	fees	27		28		27	Commodities	contractsCapital	markets	fees	4		(2)		6	Equity	contractsOther	noninterest	expense	(4)		(4)		4	Total$	129	$	112	$	59	Derivatives	used	in	asset	and	liability	management	activitiesHuntington	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.162					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	gross	notional	values	of	derivatives	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019,	identified	by	the	underlying	interest	rate-sensitive	instruments:December	31,	2020(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	3,484	$	—	$	—	$	3,484	Loans	—		17,375		1,271		18,646	Long-term	debt	6,197		—		5,000		11,197	Total	notional	value	at	December	31,	2020$	9,681	$	17,375	$	6,271	$	33,327	December	31,	2019(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	—	$	12	$	—	$	12	Loans	—		18,375		—		18,375	Long-term	debt	7,540		—		—		7,540	Total	notional	value	at	December	31,	2019$	7,540	$	18,387	$	—	$	25,927	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.		Also,	recorded	as	an	adjustment	to	interest	income	were	the	amounts	related	to	amortization	of	floor	and	forward-starting	floor	premiums	that	were	excluded	from	the	hedge	effectiveness,	changes	in	the	fair	value	of	economic	hedges,	as	well	as	the	amounts	related	to	terminated	hedges	reclassified	from	AOCI.		The	net	amounts	resulted	in	an	increase	(decrease)	to	net	interest	income	of	$239	million,	$(53)	million,	and	$(36)	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.Fair	Value	HedgesThe	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	$3.1	billion	of	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.		This	approach	allows	the	Company	to	designate	as	the	hedged	item	a	stated	amount	of	the	assets	that	are	not	expected	to	be	affected	by	prepayments,	defaults	and	other	factors	affecting	the	timing	and	amount	of	cash	flows.		The	fair	value	basis	adjustment	on	our	hedged	mortgage-backed	securities	is	included	in	available-for-sale	securities	on	the	Consolidated	Statements	of	Financial	Condition.The	following	table	presents	the	change	in	fair	value	for	derivatives	designated	as	fair	value	hedges	as	well	as	the	offsetting	change	in	fair	value	on	the	hedged	item	for	the	years	ended	December	31,	2020	and	2019:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contractsChange	in	fair	value	of	interest	rate	swaps	hedging	investment	securities	(1)$	6	$	—	$	—	Change	in	fair	value	of	hedged	investment	securities	(1)	3		—		—	Change	in	fair	value	of	interest	rate	swaps	hedging	long-term	debt	(2)	113		127		112	Change	in	fair	value	of	hedged	long	term	debt	(2)	(118)		(125)		(104)	(1)Recognized	in	Interest	income—available-for-sale	securities—taxable	in	the	Consolidated	Statements	of	Income.(2)Recognized	in	Interest	expense	-	long-term	debt	in	the	Consolidated	Statements	of	Income.2020	Form	10-K					16321.	DERIVATIVE	FINANCIAL	INSTRUMENTSDerivative	financial	instruments	are	recorded	in	the	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	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019.		Amounts	in	the	table	below	are	presented	gross	without	the	impact	of	any	net	collateral	arrangements.December	31,	2020December	31,	2019(dollar	amounts	in	millions)Notional	ValueAssetLiabilityNotional	ValueAssetLiabilityDerivatives	designated	as	Hedging	InstrumentsInterest	rate	contracts$	27,056	$	719	$	51	$	25,927	$	256	$	36	Derivatives	not	designated	as	Hedging	InstrumentsInterest	rate	contracts	44,495		1,074		828		27,614		420		314	Foreign	exchange	contracts	2,718		46		47		2,173		19		18	Commodities	contracts	1,952		107		103		3,020		155		152	Equity	contracts	517		—		4		427		6		1	Total	Contracts$	76,738	$	1,946	$	1,033	$	59,161	$	856	$	521	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	Consolidated	Income	Statement	for	the	years	ended	December	31,	2020	and	2019.Location	of	Gain	or	(Loss)	Recognized	in	Income	on	DerivativeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contracts:CustomerCapital	markets	fees$	47	$	49	$	41	Mortgage	BankingMortgage	banking	income	52		37		(19)	Interest	rate	floorsInterest	and	fee	income	on	loans	and	leases	(2)		4		—	Interest	rate	capsInterest	expense	on	long-term	debt	5		—		—	Foreign	exchange	contractsCapital	markets	fees	27		28		27	Commodities	contractsCapital	markets	fees	4		(2)		6	Equity	contractsOther	noninterest	expense	(4)		(4)		4	Total$	129	$	112	$	59	Derivatives	used	in	asset	and	liability	management	activitiesHuntington	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.162					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	gross	notional	values	of	derivatives	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019,	identified	by	the	underlying	interest	rate-sensitive	instruments:December	31,	2020(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	3,484	$	—	$	—	$	3,484	Loans	—		17,375		1,271		18,646	Long-term	debt	6,197		—		5,000		11,197	Total	notional	value	at	December	31,	2020$	9,681	$	17,375	$	6,271	$	33,327	December	31,	2019(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	—	$	12	$	—	$	12	Loans	—		18,375		—		18,375	Long-term	debt	7,540		—		—		7,540	Total	notional	value	at	December	31,	2019$	7,540	$	18,387	$	—	$	25,927	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.		Also,	recorded	as	an	adjustment	to	interest	income	were	the	amounts	related	to	amortization	of	floor	and	forward-starting	floor	premiums	that	were	excluded	from	the	hedge	effectiveness,	changes	in	the	fair	value	of	economic	hedges,	as	well	as	the	amounts	related	to	terminated	hedges	reclassified	from	AOCI.		The	net	amounts	resulted	in	an	increase	(decrease)	to	net	interest	income	of	$239	million,	$(53)	million,	and	$(36)	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.Fair	Value	HedgesThe	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	$3.1	billion	of	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.		This	approach	allows	the	Company	to	designate	as	the	hedged	item	a	stated	amount	of	the	assets	that	are	not	expected	to	be	affected	by	prepayments,	defaults	and	other	factors	affecting	the	timing	and	amount	of	cash	flows.		The	fair	value	basis	adjustment	on	our	hedged	mortgage-backed	securities	is	included	in	available-for-sale	securities	on	the	Consolidated	Statements	of	Financial	Condition.The	following	table	presents	the	change	in	fair	value	for	derivatives	designated	as	fair	value	hedges	as	well	as	the	offsetting	change	in	fair	value	on	the	hedged	item	for	the	years	ended	December	31,	2020	and	2019:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contractsChange	in	fair	value	of	interest	rate	swaps	hedging	investment	securities	(1)$	6	$	—	$	—	Change	in	fair	value	of	hedged	investment	securities	(1)	3		—		—	Change	in	fair	value	of	interest	rate	swaps	hedging	long-term	debt	(2)	113		127		112	Change	in	fair	value	of	hedged	long	term	debt	(2)	(118)		(125)		(104)	(1)Recognized	in	Interest	income—available-for-sale	securities—taxable	in	the	Consolidated	Statements	of	Income.(2)Recognized	in	Interest	expense	-	long-term	debt	in	the	Consolidated	Statements	of	Income.2020	Form	10-K					16321.	DERIVATIVE	FINANCIAL	INSTRUMENTSDerivative	financial	instruments	are	recorded	in	the	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	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019.		Amounts	in	the	table	below	are	presented	gross	without	the	impact	of	any	net	collateral	arrangements.December	31,	2020December	31,	2019(dollar	amounts	in	millions)Notional	ValueAssetLiabilityNotional	ValueAssetLiabilityDerivatives	designated	as	Hedging	InstrumentsInterest	rate	contracts$	27,056	$	719	$	51	$	25,927	$	256	$	36	Derivatives	not	designated	as	Hedging	InstrumentsInterest	rate	contracts	44,495		1,074		828		27,614		420		314	Foreign	exchange	contracts	2,718		46		47		2,173		19		18	Commodities	contracts	1,952		107		103		3,020		155		152	Equity	contracts	517		—		4		427		6		1	Total	Contracts$	76,738	$	1,946	$	1,033	$	59,161	$	856	$	521	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	Consolidated	Income	Statement	for	the	years	ended	December	31,	2020	and	2019.Location	of	Gain	or	(Loss)	Recognized	in	Income	on	DerivativeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contracts:CustomerCapital	markets	fees$	47	$	49	$	41	Mortgage	BankingMortgage	banking	income	52		37		(19)	Interest	rate	floorsInterest	and	fee	income	on	loans	and	leases	(2)		4		—	Interest	rate	capsInterest	expense	on	long-term	debt	5		—		—	Foreign	exchange	contractsCapital	markets	fees	27		28		27	Commodities	contractsCapital	markets	fees	4		(2)		6	Equity	contractsOther	noninterest	expense	(4)		(4)		4	Total$	129	$	112	$	59	Derivatives	used	in	asset	and	liability	management	activitiesHuntington	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.162					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	gross	notional	values	of	derivatives	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019,	identified	by	the	underlying	interest	rate-sensitive	instruments:December	31,	2020(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	3,484	$	—	$	—	$	3,484	Loans	—		17,375		1,271		18,646	Long-term	debt	6,197		—		5,000		11,197	Total	notional	value	at	December	31,	2020$	9,681	$	17,375	$	6,271	$	33,327	December	31,	2019(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	—	$	12	$	—	$	12	Loans	—		18,375		—		18,375	Long-term	debt	7,540		—		—		7,540	Total	notional	value	at	December	31,	2019$	7,540	$	18,387	$	—	$	25,927	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.		Also,	recorded	as	an	adjustment	to	interest	income	were	the	amounts	related	to	amortization	of	floor	and	forward-starting	floor	premiums	that	were	excluded	from	the	hedge	effectiveness,	changes	in	the	fair	value	of	economic	hedges,	as	well	as	the	amounts	related	to	terminated	hedges	reclassified	from	AOCI.		The	net	amounts	resulted	in	an	increase	(decrease)	to	net	interest	income	of	$239	million,	$(53)	million,	and	$(36)	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.Fair	Value	HedgesThe	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	$3.1	billion	of	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.		This	approach	allows	the	Company	to	designate	as	the	hedged	item	a	stated	amount	of	the	assets	that	are	not	expected	to	be	affected	by	prepayments,	defaults	and	other	factors	affecting	the	timing	and	amount	of	cash	flows.		The	fair	value	basis	adjustment	on	our	hedged	mortgage-backed	securities	is	included	in	available-for-sale	securities	on	the	Consolidated	Statements	of	Financial	Condition.The	following	table	presents	the	change	in	fair	value	for	derivatives	designated	as	fair	value	hedges	as	well	as	the	offsetting	change	in	fair	value	on	the	hedged	item	for	the	years	ended	December	31,	2020	and	2019:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contractsChange	in	fair	value	of	interest	rate	swaps	hedging	investment	securities	(1)$	6	$	—	$	—	Change	in	fair	value	of	hedged	investment	securities	(1)	3		—		—	Change	in	fair	value	of	interest	rate	swaps	hedging	long-term	debt	(2)	113		127		112	Change	in	fair	value	of	hedged	long	term	debt	(2)	(118)		(125)		(104)	(1)Recognized	in	Interest	income—available-for-sale	securities—taxable	in	the	Consolidated	Statements	of	Income.(2)Recognized	in	Interest	expense	-	long-term	debt	in	the	Consolidated	Statements	of	Income.2020	Form	10-K					16321.	DERIVATIVE	FINANCIAL	INSTRUMENTSDerivative	financial	instruments	are	recorded	in	the	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	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019.		Amounts	in	the	table	below	are	presented	gross	without	the	impact	of	any	net	collateral	arrangements.December	31,	2020December	31,	2019(dollar	amounts	in	millions)Notional	ValueAssetLiabilityNotional	ValueAssetLiabilityDerivatives	designated	as	Hedging	InstrumentsInterest	rate	contracts$	27,056	$	719	$	51	$	25,927	$	256	$	36	Derivatives	not	designated	as	Hedging	InstrumentsInterest	rate	contracts	44,495		1,074		828		27,614		420		314	Foreign	exchange	contracts	2,718		46		47		2,173		19		18	Commodities	contracts	1,952		107		103		3,020		155		152	Equity	contracts	517		—		4		427		6		1	Total	Contracts$	76,738	$	1,946	$	1,033	$	59,161	$	856	$	521	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	Consolidated	Income	Statement	for	the	years	ended	December	31,	2020	and	2019.Location	of	Gain	or	(Loss)	Recognized	in	Income	on	DerivativeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contracts:CustomerCapital	markets	fees$	47	$	49	$	41	Mortgage	BankingMortgage	banking	income	52		37		(19)	Interest	rate	floorsInterest	and	fee	income	on	loans	and	leases	(2)		4		—	Interest	rate	capsInterest	expense	on	long-term	debt	5		—		—	Foreign	exchange	contractsCapital	markets	fees	27		28		27	Commodities	contractsCapital	markets	fees	4		(2)		6	Equity	contractsOther	noninterest	expense	(4)		(4)		4	Total$	129	$	112	$	59	Derivatives	used	in	asset	and	liability	management	activitiesHuntington	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.162					Huntington	Bancshares	IncorporatedThe	following	table	presents	the	gross	notional	values	of	derivatives	used	in	Huntington’s	asset	and	liability	management	activities	at	December	31,	2020	and	December	31,	2019,	identified	by	the	underlying	interest	rate-sensitive	instruments:December	31,	2020(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	3,484	$	—	$	—	$	3,484	Loans	—		17,375		1,271		18,646	Long-term	debt	6,197		—		5,000		11,197	Total	notional	value	at	December	31,	2020$	9,681	$	17,375	$	6,271	$	33,327	December	31,	2019(dollar	amounts	in	millions)Fair	Value	HedgesCash	Flow	HedgesEconomic	HedgesTotalInstruments	associated	with:Investment	securities$	—	$	12	$	—	$	12	Loans	—		18,375		—		18,375	Long-term	debt	7,540		—		—		7,540	Total	notional	value	at	December	31,	2019$	7,540	$	18,387	$	—	$	25,927	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.		Also,	recorded	as	an	adjustment	to	interest	income	were	the	amounts	related	to	amortization	of	floor	and	forward-starting	floor	premiums	that	were	excluded	from	the	hedge	effectiveness,	changes	in	the	fair	value	of	economic	hedges,	as	well	as	the	amounts	related	to	terminated	hedges	reclassified	from	AOCI.		The	net	amounts	resulted	in	an	increase	(decrease)	to	net	interest	income	of	$239	million,	$(53)	million,	and	$(36)	million	for	the	years	ended	December	31,	2020,	2019,	and	2018,	respectively.Fair	Value	HedgesThe	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	$3.1	billion	of	interest	rate	swaps	as	fair	value	hedges	of	fixed-rate	investment	securities	using	the	last-of-layer	method.		This	approach	allows	the	Company	to	designate	as	the	hedged	item	a	stated	amount	of	the	assets	that	are	not	expected	to	be	affected	by	prepayments,	defaults	and	other	factors	affecting	the	timing	and	amount	of	cash	flows.		The	fair	value	basis	adjustment	on	our	hedged	mortgage-backed	securities	is	included	in	available-for-sale	securities	on	the	Consolidated	Statements	of	Financial	Condition.The	following	table	presents	the	change	in	fair	value	for	derivatives	designated	as	fair	value	hedges	as	well	as	the	offsetting	change	in	fair	value	on	the	hedged	item	for	the	years	ended	December	31,	2020	and	2019:	Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Interest	rate	contractsChange	in	fair	value	of	interest	rate	swaps	hedging	investment	securities	(1)$	6	$	—	$	—	Change	in	fair	value	of	hedged	investment	securities	(1)	3		—		—	Change	in	fair	value	of	interest	rate	swaps	hedging	long-term	debt	(2)	113		127		112	Change	in	fair	value	of	hedged	long	term	debt	(2)	(118)		(125)		(104)	(1)Recognized	in	Interest	income—available-for-sale	securities—taxable	in	the	Consolidated	Statements	of	Income.(2)Recognized	in	Interest	expense	-	long-term	debt	in	the	Consolidated	Statements	of	Income.2020	Form	10-K					163As	of	December	31,	2020,	the	following	amounts	were	recorded	on	the	balance	sheet	related	to	cumulative	basis	adjustments	for	fair	value	hedges.Amortized	CostCumulative	Amount	of	Fair	Value	Hedging	Adjustment	To	Hedged	ItemsAt	December	31,At	December	31,(dollar	amounts	in	millions)2020201920202019AssetsInvestment	securities	(1)$	6,637	$	—	$	3	$	—	LiabilitiesLong-term	debt	6,383		7,578		232		114	(1)Amounts	include	the	amortized	cost	basis	of	closed	portfolios	used	to	designate	hedging	relationships	in	which	the	hedged	item	is	the	last	layer	expected	to	be	remaining	at	the	end	of	the	hedging	relationship.		As	of	December	31,	2020,	the	amortized	cost	basis	of	the	closed	portfolios	used	in	these	hedging	relationships	was	$6.2	billion,	the	cumulative	basis	adjustments	associated	with	these	hedging	relationships	was	$2	million,	and	the	amounts	of	the	designated	hedged	items	were	$3.1	billion.The	cumulative	amount	of	fair	value	hedging	adjustments	remaining	for	any	hedged	assets	and	liabilities	for	which	hedge	accounting	has	been	discontinued	is	$(62)	million	at	December	31,	2020	and	$(93)	million	at	December	31,	2019.Cash	Flow	HedgesAt	December	31,	2020,	Huntington	has	$17.4	billion	of	interest	rate	floors,	floor	spreads,	and	swaps.		These	are	designated	as	cash	flow	hedges	for	variable	rate	commercial	loans	indexed	to	LIBOR.		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.		Any	change	in	fair	value	related	to	time	value	is	recognized	in	OCI.		The	initial	premium	paid	is	amortized	on	a	straight	line	basis	as	a	reduction	to	interest	income	over	the	contractual	life	of	these	contracts.Gains	on	interest	rate	floors,	floor	spreads,	and	swaps	recognized	in	other	comprehensive	income	were	$234	million	and	$23	million	for	the	years	ended	December	31,	2020	and	2019,	respectively.		No	gains	were	recognized	for	the	year	ended	December	31,	2018.		At	December	31,	2020,	the	net	gains	recognized	in	AOCI	that	are	expected	to	be	reclassified	into	earnings	within	the	next	12	months	were	$37	million.Derivatives	used	in	mortgage	banking	activitiesMortgage	loan	origination	hedging	activityHuntington’s	mortgage	origination	hedging	activity	is	related	to	economically	hedging	of	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.		The	net	asset	position	of	these	derivatives	at	December	31,	2020	and	December	31,	2019	are	$26	million	and	$6	million,	respectively.		At	December	31,	2020	and	2019,	Huntington	had	commitments	to	sell	residential	real	estate	loans	of	$2.9	billion	and	$1.4	billion,	respectively.		These	contracts	mature	in	less	than	one	year.	164					Huntington	Bancshares	IncorporatedMSR	hedging	activityHuntington’s	MSR	economic	hedging	activity	uses	securities	and	derivatives	to	manage	the	value	of	the	MSR	asset	and	to	mitigate	the	various	types	of	risk	inherent	in	the	MSR	asset,	including	risks	related	to	duration,	basis,	convexity,	volatility,	and	yield	curve.		The	hedging	instruments	include	forward	commitments,	TBA	securities,	Treasury	futures	contracts,	interest	rate	swaps,	and	options	on	interest	rate	swaps.	The	notional	value	of	the	derivative	financial	instruments,	the	corresponding	net	asset	(liability)	position	recognized	in	other	assets	and/or	other	liabilities,	and	net	trading	gains	(losses)	related	to	MSR	hedging	activity	is	summarized	in	the	following	table:MSR	hedging	activityAt	December	31,(dollar	amounts	in	millions)20202019Notional	value$	1,170	$	778	Trading	assets	43		19	Year	December	31,(dollar	amounts	in	millions)202020192018Trading	gains	(losses)$	52	$	30	$	(8)	MSR	hedging	trading	assets	and	liabilities	are	included	in	other	assets	and	other	liabilities,	respectively,	in	the	Consolidated	Balance	Sheets.		Trading	gains	(losses)	are	included	in	mortgage	banking	income	in	the	Consolidated	Statement	of	Income.Derivatives	used	in	customer	related	activitiesVarious	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.		Foreign	currency	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	exchange	rates.		Transactions	are	primarily	in	liquid	currencies	with	Canadian	dollars	and	Euros	comprising	a	majority	of	all	transactions.		Commodity	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	the	price	of	various	commodities.		Hedging	of	energy-related	products	and	base	metals	comprise	the	majority	of	these	transactions.The	net	fair	values	of	these	derivative	financial	instruments,	for	which	the	gross	amounts	are	included	in	other	assets	or	other	liabilities	at	December	31,	2020	and	December	31,	2019,	were	$70	million	and	$87	million,	respectively.		The	total	notional	values	of	derivative	financial	instruments	used	by	Huntington	on	behalf	of	customers,	including	offsetting	derivatives,	were	$37	billion	and	$30	billion	at	December	31,	2020	and	December	31,	2019,	respectively.		Huntington’s	credit	risk	from	customer	derivatives	was	$882	million	and	$407	million	at	the	same	dates,	respectively.Financial	assets	and	liabilities	that	are	offset	in	the	Consolidated	Balance	SheetsHuntington	records	derivatives	at	fair	value	as	further	described	in	Note	20	-	“Fair	Values	of	Assets	and	Liabilities”.Derivative	balances	are	presented	on	a	net	basis	taking	into	consideration	the	effects	of	legally	enforceable	master	netting	agreements.		Additionally,	collateral	exchanged	with	counterparties	is	also	netted	against	the	applicable	derivative	fair	values.		Huntington	enters	into	derivative	transactions	with	two	primary	groups:	broker-dealers	and	banks,	and	Huntington’s	customers.		Different	methods	are	utilized	for	managing	counterparty	credit	exposure	and	credit	risk	for	each	of	these	groups.Huntington	enters	into	transactions	with	broker-dealers	and	banks	for	various	risk	management	purposes.		These	types	of	transactions	generally	are	high	dollar	volume.		Huntington	enters	into	collateral	and	master	netting	agreements	with	these	counterparties,	and	routinely	exchanges	cash	and	high	quality	securities	collateral.		2020	Form	10-K					165As	of	December	31,	2020,	the	following	amounts	were	recorded	on	the	balance	sheet	related	to	cumulative	basis	adjustments	for	fair	value	hedges.Amortized	CostCumulative	Amount	of	Fair	Value	Hedging	Adjustment	To	Hedged	ItemsAt	December	31,At	December	31,(dollar	amounts	in	millions)2020201920202019AssetsInvestment	securities	(1)$	6,637	$	—	$	3	$	—	LiabilitiesLong-term	debt	6,383		7,578		232		114	(1)Amounts	include	the	amortized	cost	basis	of	closed	portfolios	used	to	designate	hedging	relationships	in	which	the	hedged	item	is	the	last	layer	expected	to	be	remaining	at	the	end	of	the	hedging	relationship.		As	of	December	31,	2020,	the	amortized	cost	basis	of	the	closed	portfolios	used	in	these	hedging	relationships	was	$6.2	billion,	the	cumulative	basis	adjustments	associated	with	these	hedging	relationships	was	$2	million,	and	the	amounts	of	the	designated	hedged	items	were	$3.1	billion.The	cumulative	amount	of	fair	value	hedging	adjustments	remaining	for	any	hedged	assets	and	liabilities	for	which	hedge	accounting	has	been	discontinued	is	$(62)	million	at	December	31,	2020	and	$(93)	million	at	December	31,	2019.Cash	Flow	HedgesAt	December	31,	2020,	Huntington	has	$17.4	billion	of	interest	rate	floors,	floor	spreads,	and	swaps.		These	are	designated	as	cash	flow	hedges	for	variable	rate	commercial	loans	indexed	to	LIBOR.		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.		Any	change	in	fair	value	related	to	time	value	is	recognized	in	OCI.		The	initial	premium	paid	is	amortized	on	a	straight	line	basis	as	a	reduction	to	interest	income	over	the	contractual	life	of	these	contracts.Gains	on	interest	rate	floors,	floor	spreads,	and	swaps	recognized	in	other	comprehensive	income	were	$234	million	and	$23	million	for	the	years	ended	December	31,	2020	and	2019,	respectively.		No	gains	were	recognized	for	the	year	ended	December	31,	2018.		At	December	31,	2020,	the	net	gains	recognized	in	AOCI	that	are	expected	to	be	reclassified	into	earnings	within	the	next	12	months	were	$37	million.Derivatives	used	in	mortgage	banking	activitiesMortgage	loan	origination	hedging	activityHuntington’s	mortgage	origination	hedging	activity	is	related	to	economically	hedging	of	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.		The	net	asset	position	of	these	derivatives	at	December	31,	2020	and	December	31,	2019	are	$26	million	and	$6	million,	respectively.		At	December	31,	2020	and	2019,	Huntington	had	commitments	to	sell	residential	real	estate	loans	of	$2.9	billion	and	$1.4	billion,	respectively.		These	contracts	mature	in	less	than	one	year.	164					Huntington	Bancshares	IncorporatedMSR	hedging	activityHuntington’s	MSR	economic	hedging	activity	uses	securities	and	derivatives	to	manage	the	value	of	the	MSR	asset	and	to	mitigate	the	various	types	of	risk	inherent	in	the	MSR	asset,	including	risks	related	to	duration,	basis,	convexity,	volatility,	and	yield	curve.		The	hedging	instruments	include	forward	commitments,	TBA	securities,	Treasury	futures	contracts,	interest	rate	swaps,	and	options	on	interest	rate	swaps.	The	notional	value	of	the	derivative	financial	instruments,	the	corresponding	net	asset	(liability)	position	recognized	in	other	assets	and/or	other	liabilities,	and	net	trading	gains	(losses)	related	to	MSR	hedging	activity	is	summarized	in	the	following	table:MSR	hedging	activityAt	December	31,(dollar	amounts	in	millions)20202019Notional	value$	1,170	$	778	Trading	assets	43		19	Year	December	31,(dollar	amounts	in	millions)202020192018Trading	gains	(losses)$	52	$	30	$	(8)	MSR	hedging	trading	assets	and	liabilities	are	included	in	other	assets	and	other	liabilities,	respectively,	in	the	Consolidated	Balance	Sheets.		Trading	gains	(losses)	are	included	in	mortgage	banking	income	in	the	Consolidated	Statement	of	Income.Derivatives	used	in	customer	related	activitiesVarious	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.		Foreign	currency	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	exchange	rates.		Transactions	are	primarily	in	liquid	currencies	with	Canadian	dollars	and	Euros	comprising	a	majority	of	all	transactions.		Commodity	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	the	price	of	various	commodities.		Hedging	of	energy-related	products	and	base	metals	comprise	the	majority	of	these	transactions.The	net	fair	values	of	these	derivative	financial	instruments,	for	which	the	gross	amounts	are	included	in	other	assets	or	other	liabilities	at	December	31,	2020	and	December	31,	2019,	were	$70	million	and	$87	million,	respectively.		The	total	notional	values	of	derivative	financial	instruments	used	by	Huntington	on	behalf	of	customers,	including	offsetting	derivatives,	were	$37	billion	and	$30	billion	at	December	31,	2020	and	December	31,	2019,	respectively.		Huntington’s	credit	risk	from	customer	derivatives	was	$882	million	and	$407	million	at	the	same	dates,	respectively.Financial	assets	and	liabilities	that	are	offset	in	the	Consolidated	Balance	SheetsHuntington	records	derivatives	at	fair	value	as	further	described	in	Note	20	-	“Fair	Values	of	Assets	and	Liabilities”.Derivative	balances	are	presented	on	a	net	basis	taking	into	consideration	the	effects	of	legally	enforceable	master	netting	agreements.		Additionally,	collateral	exchanged	with	counterparties	is	also	netted	against	the	applicable	derivative	fair	values.		Huntington	enters	into	derivative	transactions	with	two	primary	groups:	broker-dealers	and	banks,	and	Huntington’s	customers.		Different	methods	are	utilized	for	managing	counterparty	credit	exposure	and	credit	risk	for	each	of	these	groups.Huntington	enters	into	transactions	with	broker-dealers	and	banks	for	various	risk	management	purposes.		These	types	of	transactions	generally	are	high	dollar	volume.		Huntington	enters	into	collateral	and	master	netting	agreements	with	these	counterparties,	and	routinely	exchanges	cash	and	high	quality	securities	collateral.		2020	Form	10-K					165As	of	December	31,	2020,	the	following	amounts	were	recorded	on	the	balance	sheet	related	to	cumulative	basis	adjustments	for	fair	value	hedges.Amortized	CostCumulative	Amount	of	Fair	Value	Hedging	Adjustment	To	Hedged	ItemsAt	December	31,At	December	31,(dollar	amounts	in	millions)2020201920202019AssetsInvestment	securities	(1)$	6,637	$	—	$	3	$	—	LiabilitiesLong-term	debt	6,383		7,578		232		114	(1)Amounts	include	the	amortized	cost	basis	of	closed	portfolios	used	to	designate	hedging	relationships	in	which	the	hedged	item	is	the	last	layer	expected	to	be	remaining	at	the	end	of	the	hedging	relationship.		As	of	December	31,	2020,	the	amortized	cost	basis	of	the	closed	portfolios	used	in	these	hedging	relationships	was	$6.2	billion,	the	cumulative	basis	adjustments	associated	with	these	hedging	relationships	was	$2	million,	and	the	amounts	of	the	designated	hedged	items	were	$3.1	billion.The	cumulative	amount	of	fair	value	hedging	adjustments	remaining	for	any	hedged	assets	and	liabilities	for	which	hedge	accounting	has	been	discontinued	is	$(62)	million	at	December	31,	2020	and	$(93)	million	at	December	31,	2019.Cash	Flow	HedgesAt	December	31,	2020,	Huntington	has	$17.4	billion	of	interest	rate	floors,	floor	spreads,	and	swaps.		These	are	designated	as	cash	flow	hedges	for	variable	rate	commercial	loans	indexed	to	LIBOR.		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.		Any	change	in	fair	value	related	to	time	value	is	recognized	in	OCI.		The	initial	premium	paid	is	amortized	on	a	straight	line	basis	as	a	reduction	to	interest	income	over	the	contractual	life	of	these	contracts.Gains	on	interest	rate	floors,	floor	spreads,	and	swaps	recognized	in	other	comprehensive	income	were	$234	million	and	$23	million	for	the	years	ended	December	31,	2020	and	2019,	respectively.		No	gains	were	recognized	for	the	year	ended	December	31,	2018.		At	December	31,	2020,	the	net	gains	recognized	in	AOCI	that	are	expected	to	be	reclassified	into	earnings	within	the	next	12	months	were	$37	million.Derivatives	used	in	mortgage	banking	activitiesMortgage	loan	origination	hedging	activityHuntington’s	mortgage	origination	hedging	activity	is	related	to	economically	hedging	of	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.		The	net	asset	position	of	these	derivatives	at	December	31,	2020	and	December	31,	2019	are	$26	million	and	$6	million,	respectively.		At	December	31,	2020	and	2019,	Huntington	had	commitments	to	sell	residential	real	estate	loans	of	$2.9	billion	and	$1.4	billion,	respectively.		These	contracts	mature	in	less	than	one	year.	164					Huntington	Bancshares	IncorporatedMSR	hedging	activityHuntington’s	MSR	economic	hedging	activity	uses	securities	and	derivatives	to	manage	the	value	of	the	MSR	asset	and	to	mitigate	the	various	types	of	risk	inherent	in	the	MSR	asset,	including	risks	related	to	duration,	basis,	convexity,	volatility,	and	yield	curve.		The	hedging	instruments	include	forward	commitments,	TBA	securities,	Treasury	futures	contracts,	interest	rate	swaps,	and	options	on	interest	rate	swaps.	The	notional	value	of	the	derivative	financial	instruments,	the	corresponding	net	asset	(liability)	position	recognized	in	other	assets	and/or	other	liabilities,	and	net	trading	gains	(losses)	related	to	MSR	hedging	activity	is	summarized	in	the	following	table:MSR	hedging	activityAt	December	31,(dollar	amounts	in	millions)20202019Notional	value$	1,170	$	778	Trading	assets	43		19	Year	December	31,(dollar	amounts	in	millions)202020192018Trading	gains	(losses)$	52	$	30	$	(8)	MSR	hedging	trading	assets	and	liabilities	are	included	in	other	assets	and	other	liabilities,	respectively,	in	the	Consolidated	Balance	Sheets.		Trading	gains	(losses)	are	included	in	mortgage	banking	income	in	the	Consolidated	Statement	of	Income.Derivatives	used	in	customer	related	activitiesVarious	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.		Foreign	currency	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	exchange	rates.		Transactions	are	primarily	in	liquid	currencies	with	Canadian	dollars	and	Euros	comprising	a	majority	of	all	transactions.		Commodity	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	the	price	of	various	commodities.		Hedging	of	energy-related	products	and	base	metals	comprise	the	majority	of	these	transactions.The	net	fair	values	of	these	derivative	financial	instruments,	for	which	the	gross	amounts	are	included	in	other	assets	or	other	liabilities	at	December	31,	2020	and	December	31,	2019,	were	$70	million	and	$87	million,	respectively.		The	total	notional	values	of	derivative	financial	instruments	used	by	Huntington	on	behalf	of	customers,	including	offsetting	derivatives,	were	$37	billion	and	$30	billion	at	December	31,	2020	and	December	31,	2019,	respectively.		Huntington’s	credit	risk	from	customer	derivatives	was	$882	million	and	$407	million	at	the	same	dates,	respectively.Financial	assets	and	liabilities	that	are	offset	in	the	Consolidated	Balance	SheetsHuntington	records	derivatives	at	fair	value	as	further	described	in	Note	20	-	“Fair	Values	of	Assets	and	Liabilities”.Derivative	balances	are	presented	on	a	net	basis	taking	into	consideration	the	effects	of	legally	enforceable	master	netting	agreements.		Additionally,	collateral	exchanged	with	counterparties	is	also	netted	against	the	applicable	derivative	fair	values.		Huntington	enters	into	derivative	transactions	with	two	primary	groups:	broker-dealers	and	banks,	and	Huntington’s	customers.		Different	methods	are	utilized	for	managing	counterparty	credit	exposure	and	credit	risk	for	each	of	these	groups.Huntington	enters	into	transactions	with	broker-dealers	and	banks	for	various	risk	management	purposes.		These	types	of	transactions	generally	are	high	dollar	volume.		Huntington	enters	into	collateral	and	master	netting	agreements	with	these	counterparties,	and	routinely	exchanges	cash	and	high	quality	securities	collateral.		2020	Form	10-K					165As	of	December	31,	2020,	the	following	amounts	were	recorded	on	the	balance	sheet	related	to	cumulative	basis	adjustments	for	fair	value	hedges.Amortized	CostCumulative	Amount	of	Fair	Value	Hedging	Adjustment	To	Hedged	ItemsAt	December	31,At	December	31,(dollar	amounts	in	millions)2020201920202019AssetsInvestment	securities	(1)$	6,637	$	—	$	3	$	—	LiabilitiesLong-term	debt	6,383		7,578		232		114	(1)Amounts	include	the	amortized	cost	basis	of	closed	portfolios	used	to	designate	hedging	relationships	in	which	the	hedged	item	is	the	last	layer	expected	to	be	remaining	at	the	end	of	the	hedging	relationship.		As	of	December	31,	2020,	the	amortized	cost	basis	of	the	closed	portfolios	used	in	these	hedging	relationships	was	$6.2	billion,	the	cumulative	basis	adjustments	associated	with	these	hedging	relationships	was	$2	million,	and	the	amounts	of	the	designated	hedged	items	were	$3.1	billion.The	cumulative	amount	of	fair	value	hedging	adjustments	remaining	for	any	hedged	assets	and	liabilities	for	which	hedge	accounting	has	been	discontinued	is	$(62)	million	at	December	31,	2020	and	$(93)	million	at	December	31,	2019.Cash	Flow	HedgesAt	December	31,	2020,	Huntington	has	$17.4	billion	of	interest	rate	floors,	floor	spreads,	and	swaps.		These	are	designated	as	cash	flow	hedges	for	variable	rate	commercial	loans	indexed	to	LIBOR.		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.		Any	change	in	fair	value	related	to	time	value	is	recognized	in	OCI.		The	initial	premium	paid	is	amortized	on	a	straight	line	basis	as	a	reduction	to	interest	income	over	the	contractual	life	of	these	contracts.Gains	on	interest	rate	floors,	floor	spreads,	and	swaps	recognized	in	other	comprehensive	income	were	$234	million	and	$23	million	for	the	years	ended	December	31,	2020	and	2019,	respectively.		No	gains	were	recognized	for	the	year	ended	December	31,	2018.		At	December	31,	2020,	the	net	gains	recognized	in	AOCI	that	are	expected	to	be	reclassified	into	earnings	within	the	next	12	months	were	$37	million.Derivatives	used	in	mortgage	banking	activitiesMortgage	loan	origination	hedging	activityHuntington’s	mortgage	origination	hedging	activity	is	related	to	economically	hedging	of	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.		The	net	asset	position	of	these	derivatives	at	December	31,	2020	and	December	31,	2019	are	$26	million	and	$6	million,	respectively.		At	December	31,	2020	and	2019,	Huntington	had	commitments	to	sell	residential	real	estate	loans	of	$2.9	billion	and	$1.4	billion,	respectively.		These	contracts	mature	in	less	than	one	year.	164					Huntington	Bancshares	IncorporatedMSR	hedging	activityHuntington’s	MSR	economic	hedging	activity	uses	securities	and	derivatives	to	manage	the	value	of	the	MSR	asset	and	to	mitigate	the	various	types	of	risk	inherent	in	the	MSR	asset,	including	risks	related	to	duration,	basis,	convexity,	volatility,	and	yield	curve.		The	hedging	instruments	include	forward	commitments,	TBA	securities,	Treasury	futures	contracts,	interest	rate	swaps,	and	options	on	interest	rate	swaps.	The	notional	value	of	the	derivative	financial	instruments,	the	corresponding	net	asset	(liability)	position	recognized	in	other	assets	and/or	other	liabilities,	and	net	trading	gains	(losses)	related	to	MSR	hedging	activity	is	summarized	in	the	following	table:MSR	hedging	activityAt	December	31,(dollar	amounts	in	millions)20202019Notional	value$	1,170	$	778	Trading	assets	43		19	Year	December	31,(dollar	amounts	in	millions)202020192018Trading	gains	(losses)$	52	$	30	$	(8)	MSR	hedging	trading	assets	and	liabilities	are	included	in	other	assets	and	other	liabilities,	respectively,	in	the	Consolidated	Balance	Sheets.		Trading	gains	(losses)	are	included	in	mortgage	banking	income	in	the	Consolidated	Statement	of	Income.Derivatives	used	in	customer	related	activitiesVarious	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.		Foreign	currency	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	exchange	rates.		Transactions	are	primarily	in	liquid	currencies	with	Canadian	dollars	and	Euros	comprising	a	majority	of	all	transactions.		Commodity	derivatives	help	the	customer	hedge	risk	and	reduce	exposure	to	fluctuations	in	the	price	of	various	commodities.		Hedging	of	energy-related	products	and	base	metals	comprise	the	majority	of	these	transactions.The	net	fair	values	of	these	derivative	financial	instruments,	for	which	the	gross	amounts	are	included	in	other	assets	or	other	liabilities	at	December	31,	2020	and	December	31,	2019,	were	$70	million	and	$87	million,	respectively.		The	total	notional	values	of	derivative	financial	instruments	used	by	Huntington	on	behalf	of	customers,	including	offsetting	derivatives,	were	$37	billion	and	$30	billion	at	December	31,	2020	and	December	31,	2019,	respectively.		Huntington’s	credit	risk	from	customer	derivatives	was	$882	million	and	$407	million	at	the	same	dates,	respectively.Financial	assets	and	liabilities	that	are	offset	in	the	Consolidated	Balance	SheetsHuntington	records	derivatives	at	fair	value	as	further	described	in	Note	20	-	“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:	broker-dealers	and	banks,	and	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.		2020	Form	10-K					165Huntington	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	to	the	customer	derivative	credit	exposure,	aggregate	credit	risk	associated	with	broker-dealer	and	bank	derivative	transactions,	net	of	collateral	that	has	been	pledged	by	the	counterparty,	was	$175	million	and	$22	million	at	December	31,	2020	and	December	31,	2019,	respectively.		The	credit	risk	associated	with	derivatives	is	calculated	after	considering	master	netting	agreements.At	December	31,	2020,	Huntington	pledged	$276	million	of	investment	securities	and	cash	collateral	to	counterparties,	while	other	counterparties	pledged	$387	million	of	investment	securities	and	cash	collateral	to	Huntington	to	satisfy	collateral	netting	agreements.		In	the	event	of	credit	downgrades,	Huntington	would	not	be	required	to	provide	additional	collateral.The	following	tables	present	the	gross	amounts	of	these	assets	and	liabilities	with	any	offsets	to	arrive	at	the	net	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019:Offsetting	of	Financial	Assets	and	Derivative	AssetsGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofassetspresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedassetsFinancialinstrumentsCash	collateralreceivedNet	amountDecember	31,	2020Derivatives$	1,946	$	(889)	$	1,057	$	(112)	$	(142)	$	803	December	31,	2019Derivatives	856		(404)		452		(65)		(29)		358	Offsetting	of	Financial	Liabilities	and	Derivative	LiabilitiesGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofliabilitiespresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedliabilitiesFinancialinstrumentsCash	collateraldeliveredNet	amountDecember	31,	2020Derivatives$	1,033	$	(917)	$	116	$	(9)	$	(105)	$	2	December	31,	2019Derivatives	521		(417)		104		—		(75)		29	22.	VIEsUnconsolidated	VIEs	The	following	tables	provide	a	summary	of	the	assets	and	liabilities	included	in	Huntington’s	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	of,	the	VIE	at	December	31,	2020,	and	2019:December	31,	2020(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	956		500		956	Other	Investments	308		72		308	Total$	1,278	$	824	$	1,264	December	31,	2019(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	727		332		727	Other	Investments	179		63		179	Total$	920	$	647	$	906	166					Huntington	Bancshares	IncorporatedTrust-Preferred	SecuritiesHuntington	has	certain	consolidated	trusts	whose	assets,	liabilities,	equity,	income,	and	expenses	are	not	included	within	Huntington’s	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	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	Consolidated	Financial	Statements.		A	list	of	trust-preferred	securities	outstanding	at	December	31,	2020	follows:(dollar	amounts	in	millions)RatePrincipal	amount	ofsubordinated	note/debenture	issued	to	trust	(1)Investment	inunconsolidatedsubsidiaryHuntington	Capital	I	0.94	%(2)$	70	$	6	Huntington	Capital	II	0.86	(3)	32		3	Sky	Financial	Capital	Trust	III	1.64	(4)	72		2	Sky	Financial	Capital	Trust	IV	1.64	(4)	74		2	Camco	Financial	Trust	1.57	(5)	4		1	Total$	252	$	14	(1)Represents	the	principal	amount	of	debentures	issued	to	each	trust,	including	unamortized	original	issue	discount.(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.70%.(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.625%.(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	1.40%.(5)Variable	effective	rate	at	December	31,	2020,	based	on	three	month	LIBOR	+	1.33%.Each	issue	of	the	junior	subordinated	debentures	has	an	interest	rate	equal	to	the	corresponding	trust	securities	distribution	rate.		Huntington	has	the	right	to	defer	payment	of	interest	on	the	debentures	at	any	time,	or	from	time-to-time	for	a	period	not	exceeding	five	years	provided	that	no	extension	period	may	extend	beyond	the	stated	maturity	of	the	related	debentures.		During	any	such	extension	period,	distributions	to	the	trust	securities	will	also	be	deferred	and	Huntington’s	ability	to	pay	dividends	on	its	common	stock	will	be	restricted.		Periodic	cash	payments	and	payments	upon	liquidation	or	redemption	with	respect	to	trust	securities	are	guaranteed	by	Huntington	to	the	extent	of	funds	held	by	the	trusts.		The	guarantee	ranks	subordinate	and	junior	in	right	of	payment	to	all	indebtedness	of	the	Company	to	the	same	extent	as	the	junior	subordinated	debt.		The	guarantee	does	not	place	a	limitation	on	the	amount	of	additional	indebtedness	that	may	be	incurred	by	Huntington.Affordable	Housing	Tax	Credit	PartnershipsHuntington	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	related	to	these	investments	are	included	in	noninterest	income	in	the	Consolidated	Statements	of	Income.The	following	table	presents	the	balances	of	Huntington’s	affordable	housing	tax	credit	investments	and	related	unfunded	commitments	at	December	31,	2020	and	2019.(dollar	amounts	in	millions)December	31,2020December	31,2019Affordable	housing	tax	credit	investments$	1,568	$	1,242	Less:	amortization	(612)		(515)	Net	affordable	housing	tax	credit	investments$	956	$	727	Unfunded	commitments$	500	$	332	2020	Form	10-K					167Huntington	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	to	the	customer	derivative	credit	exposure,	aggregate	credit	risk	associated	with	broker-dealer	and	bank	derivative	transactions,	net	of	collateral	that	has	been	pledged	by	the	counterparty,	was	$175	million	and	$22	million	at	December	31,	2020	and	December	31,	2019,	respectively.		The	credit	risk	associated	with	derivatives	is	calculated	after	considering	master	netting	agreements.At	December	31,	2020,	Huntington	pledged	$276	million	of	investment	securities	and	cash	collateral	to	counterparties,	while	other	counterparties	pledged	$387	million	of	investment	securities	and	cash	collateral	to	Huntington	to	satisfy	collateral	netting	agreements.		In	the	event	of	credit	downgrades,	Huntington	would	not	be	required	to	provide	additional	collateral.The	following	tables	present	the	gross	amounts	of	these	assets	and	liabilities	with	any	offsets	to	arrive	at	the	net	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019:Offsetting	of	Financial	Assets	and	Derivative	AssetsGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofassetspresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedassetsFinancialinstrumentsCash	collateralreceivedNet	amountDecember	31,	2020Derivatives$	1,946	$	(889)	$	1,057	$	(112)	$	(142)	$	803	December	31,	2019Derivatives	856		(404)		452		(65)		(29)		358	Offsetting	of	Financial	Liabilities	and	Derivative	LiabilitiesGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofliabilitiespresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedliabilitiesFinancialinstrumentsCash	collateraldeliveredNet	amountDecember	31,	2020Derivatives$	1,033	$	(917)	$	116	$	(9)	$	(105)	$	2	December	31,	2019Derivatives	521		(417)		104		—		(75)		29	22.	VIEsUnconsolidated	VIEs	The	following	tables	provide	a	summary	of	the	assets	and	liabilities	included	in	Huntington’s	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	of,	the	VIE	at	December	31,	2020,	and	2019:December	31,	2020(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	956		500		956	Other	Investments	308		72		308	Total$	1,278	$	824	$	1,264	December	31,	2019(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	727		332		727	Other	Investments	179		63		179	Total$	920	$	647	$	906	166					Huntington	Bancshares	IncorporatedTrust-Preferred	SecuritiesHuntington	has	certain	consolidated	trusts	whose	assets,	liabilities,	equity,	income,	and	expenses	are	not	included	within	Huntington’s	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	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	Consolidated	Financial	Statements.		A	list	of	trust-preferred	securities	outstanding	at	December	31,	2020	follows:(dollar	amounts	in	millions)RatePrincipal	amount	ofsubordinated	note/debenture	issued	to	trust	(1)Investment	inunconsolidatedsubsidiaryHuntington	Capital	I	0.94	%(2)$	70	$	6	Huntington	Capital	II	0.86	(3)	32		3	Sky	Financial	Capital	Trust	III	1.64	(4)	72		2	Sky	Financial	Capital	Trust	IV	1.64	(4)	74		2	Camco	Financial	Trust	1.57	(5)	4		1	Total$	252	$	14	(1)Represents	the	principal	amount	of	debentures	issued	to	each	trust,	including	unamortized	original	issue	discount.(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.70%.(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.625%.(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	1.40%.(5)Variable	effective	rate	at	December	31,	2020,	based	on	three	month	LIBOR	+	1.33%.Each	issue	of	the	junior	subordinated	debentures	has	an	interest	rate	equal	to	the	corresponding	trust	securities	distribution	rate.		Huntington	has	the	right	to	defer	payment	of	interest	on	the	debentures	at	any	time,	or	from	time-to-time	for	a	period	not	exceeding	five	years	provided	that	no	extension	period	may	extend	beyond	the	stated	maturity	of	the	related	debentures.		During	any	such	extension	period,	distributions	to	the	trust	securities	will	also	be	deferred	and	Huntington’s	ability	to	pay	dividends	on	its	common	stock	will	be	restricted.		Periodic	cash	payments	and	payments	upon	liquidation	or	redemption	with	respect	to	trust	securities	are	guaranteed	by	Huntington	to	the	extent	of	funds	held	by	the	trusts.		The	guarantee	ranks	subordinate	and	junior	in	right	of	payment	to	all	indebtedness	of	the	Company	to	the	same	extent	as	the	junior	subordinated	debt.		The	guarantee	does	not	place	a	limitation	on	the	amount	of	additional	indebtedness	that	may	be	incurred	by	Huntington.Affordable	Housing	Tax	Credit	PartnershipsHuntington	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	related	to	these	investments	are	included	in	noninterest	income	in	the	Consolidated	Statements	of	Income.The	following	table	presents	the	balances	of	Huntington’s	affordable	housing	tax	credit	investments	and	related	unfunded	commitments	at	December	31,	2020	and	2019.(dollar	amounts	in	millions)December	31,2020December	31,2019Affordable	housing	tax	credit	investments$	1,568	$	1,242	Less:	amortization	(612)		(515)	Net	affordable	housing	tax	credit	investments$	956	$	727	Unfunded	commitments$	500	$	332	2020	Form	10-K					167Huntington	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	to	the	customer	derivative	credit	exposure,	aggregate	credit	risk	associated	with	broker-dealer	and	bank	derivative	transactions,	net	of	collateral	that	has	been	pledged	by	the	counterparty,	was	$175	million	and	$22	million	at	December	31,	2020	and	December	31,	2019,	respectively.		The	credit	risk	associated	with	derivatives	is	calculated	after	considering	master	netting	agreements.At	December	31,	2020,	Huntington	pledged	$276	million	of	investment	securities	and	cash	collateral	to	counterparties,	while	other	counterparties	pledged	$387	million	of	investment	securities	and	cash	collateral	to	Huntington	to	satisfy	collateral	netting	agreements.		In	the	event	of	credit	downgrades,	Huntington	would	not	be	required	to	provide	additional	collateral.The	following	tables	present	the	gross	amounts	of	these	assets	and	liabilities	with	any	offsets	to	arrive	at	the	net	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019:Offsetting	of	Financial	Assets	and	Derivative	AssetsGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofassetspresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedassetsFinancialinstrumentsCash	collateralreceivedNet	amountDecember	31,	2020Derivatives$	1,946	$	(889)	$	1,057	$	(112)	$	(142)	$	803	December	31,	2019Derivatives	856		(404)		452		(65)		(29)		358	Offsetting	of	Financial	Liabilities	and	Derivative	LiabilitiesGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofliabilitiespresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedliabilitiesFinancialinstrumentsCash	collateraldeliveredNet	amountDecember	31,	2020Derivatives$	1,033	$	(917)	$	116	$	(9)	$	(105)	$	2	December	31,	2019Derivatives	521		(417)		104		—		(75)		29	22.	VIEsUnconsolidated	VIEs	The	following	tables	provide	a	summary	of	the	assets	and	liabilities	included	in	Huntington’s	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	of,	the	VIE	at	December	31,	2020,	and	2019:December	31,	2020(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	956		500		956	Other	Investments	308		72		308	Total$	1,278	$	824	$	1,264	December	31,	2019(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	727		332		727	Other	Investments	179		63		179	Total$	920	$	647	$	906	166					Huntington	Bancshares	IncorporatedTrust-Preferred	SecuritiesHuntington	has	certain	consolidated	trusts	whose	assets,	liabilities,	equity,	income,	and	expenses	are	not	included	within	Huntington’s	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	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	Consolidated	Financial	Statements.		A	list	of	trust-preferred	securities	outstanding	at	December	31,	2020	follows:(dollar	amounts	in	millions)RatePrincipal	amount	ofsubordinated	note/debenture	issued	to	trust	(1)Investment	inunconsolidatedsubsidiaryHuntington	Capital	I	0.94	%(2)$	70	$	6	Huntington	Capital	II	0.86	(3)	32		3	Sky	Financial	Capital	Trust	III	1.64	(4)	72		2	Sky	Financial	Capital	Trust	IV	1.64	(4)	74		2	Camco	Financial	Trust	1.57	(5)	4		1	Total$	252	$	14	(1)Represents	the	principal	amount	of	debentures	issued	to	each	trust,	including	unamortized	original	issue	discount.(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.70%.(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.625%.(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	1.40%.(5)Variable	effective	rate	at	December	31,	2020,	based	on	three	month	LIBOR	+	1.33%.Each	issue	of	the	junior	subordinated	debentures	has	an	interest	rate	equal	to	the	corresponding	trust	securities	distribution	rate.		Huntington	has	the	right	to	defer	payment	of	interest	on	the	debentures	at	any	time,	or	from	time-to-time	for	a	period	not	exceeding	five	years	provided	that	no	extension	period	may	extend	beyond	the	stated	maturity	of	the	related	debentures.		During	any	such	extension	period,	distributions	to	the	trust	securities	will	also	be	deferred	and	Huntington’s	ability	to	pay	dividends	on	its	common	stock	will	be	restricted.		Periodic	cash	payments	and	payments	upon	liquidation	or	redemption	with	respect	to	trust	securities	are	guaranteed	by	Huntington	to	the	extent	of	funds	held	by	the	trusts.		The	guarantee	ranks	subordinate	and	junior	in	right	of	payment	to	all	indebtedness	of	the	Company	to	the	same	extent	as	the	junior	subordinated	debt.		The	guarantee	does	not	place	a	limitation	on	the	amount	of	additional	indebtedness	that	may	be	incurred	by	Huntington.Affordable	Housing	Tax	Credit	PartnershipsHuntington	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	related	to	these	investments	are	included	in	noninterest	income	in	the	Consolidated	Statements	of	Income.The	following	table	presents	the	balances	of	Huntington’s	affordable	housing	tax	credit	investments	and	related	unfunded	commitments	at	December	31,	2020	and	2019.(dollar	amounts	in	millions)December	31,2020December	31,2019Affordable	housing	tax	credit	investments$	1,568	$	1,242	Less:	amortization	(612)		(515)	Net	affordable	housing	tax	credit	investments$	956	$	727	Unfunded	commitments$	500	$	332	2020	Form	10-K					167Huntington	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	to	the	customer	derivative	credit	exposure,	aggregate	credit	risk	associated	with	broker-dealer	and	bank	derivative	transactions,	net	of	collateral	that	has	been	pledged	by	the	counterparty,	was	$175	million	and	$22	million	at	December	31,	2020	and	December	31,	2019,	respectively.		The	credit	risk	associated	with	derivatives	is	calculated	after	considering	master	netting	agreements.At	December	31,	2020,	Huntington	pledged	$276	million	of	investment	securities	and	cash	collateral	to	counterparties,	while	other	counterparties	pledged	$387	million	of	investment	securities	and	cash	collateral	to	Huntington	to	satisfy	collateral	netting	agreements.		In	the	event	of	credit	downgrades,	Huntington	would	not	be	required	to	provide	additional	collateral.The	following	tables	present	the	gross	amounts	of	these	assets	and	liabilities	with	any	offsets	to	arrive	at	the	net	amounts	recognized	in	the	Consolidated	Balance	Sheets	at	December	31,	2020	and	December	31,	2019:Offsetting	of	Financial	Assets	and	Derivative	AssetsGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofassetspresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedassetsFinancialinstrumentsCash	collateralreceivedNet	amountDecember	31,	2020Derivatives$	1,946	$	(889)	$	1,057	$	(112)	$	(142)	$	803	December	31,	2019Derivatives	856		(404)		452		(65)		(29)		358	Offsetting	of	Financial	Liabilities	and	Derivative	LiabilitiesGross	amountsoffset	in	theconsolidatedbalance	sheetsNet	amounts	ofliabilitiespresented	intheconsolidatedbalance	sheetsGross	amounts	not	offset	in	the	consolidated	balance	sheets(dollar	amounts	in	millions)Gross	amountsof	recognizedliabilitiesFinancialinstrumentsCash	collateraldeliveredNet	amountDecember	31,	2020Derivatives$	1,033	$	(917)	$	116	$	(9)	$	(105)	$	2	December	31,	2019Derivatives	521		(417)		104		—		(75)		29	22.	VIEsUnconsolidated	VIEs	The	following	tables	provide	a	summary	of	the	assets	and	liabilities	included	in	Huntington’s	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	of,	the	VIE	at	December	31,	2020,	and	2019:December	31,	2020(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	956		500		956	Other	Investments	308		72		308	Total$	1,278	$	824	$	1,264	December	31,	2019(dollar	amounts	in	millions)Total	AssetsTotal	LiabilitiesMaximum	Exposure	to	LossTrust	Preferred	Securities$	14	$	252	$	—	Affordable	Housing	Tax	Credit	Partnerships	727		332		727	Other	Investments	179		63		179	Total$	920	$	647	$	906	166					Huntington	Bancshares	IncorporatedTrust-Preferred	SecuritiesHuntington	has	certain	consolidated	trusts	whose	assets,	liabilities,	equity,	income,	and	expenses	are	not	included	within	Huntington’s	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	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	Consolidated	Financial	Statements.		A	list	of	trust-preferred	securities	outstanding	at	December	31,	2020	follows:(dollar	amounts	in	millions)RatePrincipal	amount	ofsubordinated	note/debenture	issued	to	trust	(1)Investment	inunconsolidatedsubsidiaryHuntington	Capital	I	0.94	%(2)$	70	$	6	Huntington	Capital	II	0.86	(3)	32		3	Sky	Financial	Capital	Trust	III	1.64	(4)	72		2	Sky	Financial	Capital	Trust	IV	1.64	(4)	74		2	Camco	Financial	Trust	1.57	(5)	4		1	Total$	252	$	14	(1)Represents	the	principal	amount	of	debentures	issued	to	each	trust,	including	unamortized	original	issue	discount.(2)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.70%.(3)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	0.625%.(4)Variable	effective	rate	at	December	31,	2020,	based	on	three-month	LIBOR	+	1.40%.(5)Variable	effective	rate	at	December	31,	2020,	based	on	three	month	LIBOR	+	1.33%.Each	issue	of	the	junior	subordinated	debentures	has	an	interest	rate	equal	to	the	corresponding	trust	securities	distribution	rate.		Huntington	has	the	right	to	defer	payment	of	interest	on	the	debentures	at	any	time,	or	from	time-to-time	for	a	period	not	exceeding	five	years	provided	that	no	extension	period	may	extend	beyond	the	stated	maturity	of	the	related	debentures.		During	any	such	extension	period,	distributions	to	the	trust	securities	will	also	be	deferred	and	Huntington’s	ability	to	pay	dividends	on	its	common	stock	will	be	restricted.		Periodic	cash	payments	and	payments	upon	liquidation	or	redemption	with	respect	to	trust	securities	are	guaranteed	by	Huntington	to	the	extent	of	funds	held	by	the	trusts.		The	guarantee	ranks	subordinate	and	junior	in	right	of	payment	to	all	indebtedness	of	the	Company	to	the	same	extent	as	the	junior	subordinated	debt.		The	guarantee	does	not	place	a	limitation	on	the	amount	of	additional	indebtedness	that	may	be	incurred	by	Huntington.Affordable	Housing	Tax	Credit	PartnershipsHuntington	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	related	to	these	investments	are	included	in	noninterest	income	in	the	Consolidated	Statements	of	Income.The	following	table	presents	the	balances	of	Huntington’s	affordable	housing	tax	credit	investments	and	related	unfunded	commitments	at	December	31,	2020	and	2019.(dollar	amounts	in	millions)December	31,2020December	31,2019Affordable	housing	tax	credit	investments$	1,568	$	1,242	Less:	amortization	(612)		(515)	Net	affordable	housing	tax	credit	investments$	956	$	727	Unfunded	commitments$	500	$	332	2020	Form	10-K					167The	following	table	presents	other	information	relating	to	Huntington’s	affordable	housing	tax	credit	investments	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Tax	credits	and	other	tax	benefits	recognized$	113	$	98	$	92	Proportional	amortization	expense	included	in	provision	for	income	taxes	97		84		79	Other	InvestmentsOther	investments	determined	to	be	VIE’s	include	investments	in	Small	Business	Investment	Companies,	Historic	Tax	Credit	Investments,	certain	equity	method	investments,	renewable	energy	financings,	and	other	miscellaneous	investments.23.	COMMITMENTS	AND	CONTINGENT	LIABILITIESCommitments	to	extend	creditIn	the	ordinary	course	of	business,	Huntington	makes	various	commitments	to	extend	credit	that	are	not	reflected	in	the	Consolidated	Financial	Statements.		The	contract	amounts	of	these	financial	agreements	at	December	31,	2020,	and	December	31,	2019	were	as	follows:		At	December	31,(dollar	amounts	in	millions)20202019Contract	amount	representing	credit	riskCommitments	to	extend	credit:Commercial$	20,701	$	18,326	Consumer	14,808		14,831	Commercial	real	estate	1,313		1,364	Standby	letters	of	credit	581		587	Commercial	letters	of	credit	21		8	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.Standby	letters	of	credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years.		The	carrying	amount	of	deferred	revenue	associated	with	these	guarantees	was	$5	million	and	$8	million	at	December	31,	2020	and	December	31,	2019,	respectively.Commercial	letters	of	credit	represent	short-term,	self-liquidating	instruments	that	facilitate	customer	trade	transactions	and	generally	have	maturities	of	no	longer	than	90	days.		The	goods	or	cargo	being	traded	normally	secure	these	instruments.	Litigation	and	Regulatory	Matters	In	the	ordinary	course	of	business,	Huntington	is	routinely	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,	168					Huntington	Bancshares	Incorporatedwhat	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	$10	million	at	December	31,	2020	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.24.	OTHER	REGULATORY	MATTERS	Huntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.	These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	with	respect	to	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock	and	certain	qualifying	capital	instruments.	Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.	Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets	and	certain	other	deductions).	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.	Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	2020	Form	10-K					169The	following	table	presents	other	information	relating	to	Huntington’s	affordable	housing	tax	credit	investments	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Tax	credits	and	other	tax	benefits	recognized$	113	$	98	$	92	Proportional	amortization	expense	included	in	provision	for	income	taxes	97		84		79	Other	InvestmentsOther	investments	determined	to	be	VIE’s	include	investments	in	Small	Business	Investment	Companies,	Historic	Tax	Credit	Investments,	certain	equity	method	investments,	renewable	energy	financings,	and	other	miscellaneous	investments.23.	COMMITMENTS	AND	CONTINGENT	LIABILITIESCommitments	to	extend	creditIn	the	ordinary	course	of	business,	Huntington	makes	various	commitments	to	extend	credit	that	are	not	reflected	in	the	Consolidated	Financial	Statements.		The	contract	amounts	of	these	financial	agreements	at	December	31,	2020,	and	December	31,	2019	were	as	follows:		At	December	31,(dollar	amounts	in	millions)20202019Contract	amount	representing	credit	riskCommitments	to	extend	credit:Commercial$	20,701	$	18,326	Consumer	14,808		14,831	Commercial	real	estate	1,313		1,364	Standby	letters	of	credit	581		587	Commercial	letters	of	credit	21		8	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.Standby	letters	of	credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years.		The	carrying	amount	of	deferred	revenue	associated	with	these	guarantees	was	$5	million	and	$8	million	at	December	31,	2020	and	December	31,	2019,	respectively.Commercial	letters	of	credit	represent	short-term,	self-liquidating	instruments	that	facilitate	customer	trade	transactions	and	generally	have	maturities	of	no	longer	than	90	days.		The	goods	or	cargo	being	traded	normally	secure	these	instruments.	Litigation	and	Regulatory	Matters	In	the	ordinary	course	of	business,	Huntington	is	routinely	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,	168					Huntington	Bancshares	Incorporatedwhat	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	$10	million	at	December	31,	2020	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.24.	OTHER	REGULATORY	MATTERS	Huntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.	These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	with	respect	to	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock	and	certain	qualifying	capital	instruments.	Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.	Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets	and	certain	other	deductions).	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.	Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	2020	Form	10-K					169The	following	table	presents	other	information	relating	to	Huntington’s	affordable	housing	tax	credit	investments	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Tax	credits	and	other	tax	benefits	recognized$	113	$	98	$	92	Proportional	amortization	expense	included	in	provision	for	income	taxes	97		84		79	Other	InvestmentsOther	investments	determined	to	be	VIE’s	include	investments	in	Small	Business	Investment	Companies,	Historic	Tax	Credit	Investments,	certain	equity	method	investments,	renewable	energy	financings,	and	other	miscellaneous	investments.23.	COMMITMENTS	AND	CONTINGENT	LIABILITIESCommitments	to	extend	creditIn	the	ordinary	course	of	business,	Huntington	makes	various	commitments	to	extend	credit	that	are	not	reflected	in	the	Consolidated	Financial	Statements.		The	contract	amounts	of	these	financial	agreements	at	December	31,	2020,	and	December	31,	2019	were	as	follows:		At	December	31,(dollar	amounts	in	millions)20202019Contract	amount	representing	credit	riskCommitments	to	extend	credit:Commercial$	20,701	$	18,326	Consumer	14,808		14,831	Commercial	real	estate	1,313		1,364	Standby	letters	of	credit	581		587	Commercial	letters	of	credit	21		8	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.Standby	letters	of	credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years.		The	carrying	amount	of	deferred	revenue	associated	with	these	guarantees	was	$5	million	and	$8	million	at	December	31,	2020	and	December	31,	2019,	respectively.Commercial	letters	of	credit	represent	short-term,	self-liquidating	instruments	that	facilitate	customer	trade	transactions	and	generally	have	maturities	of	no	longer	than	90	days.		The	goods	or	cargo	being	traded	normally	secure	these	instruments.	Litigation	and	Regulatory	Matters	In	the	ordinary	course	of	business,	Huntington	is	routinely	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,	168					Huntington	Bancshares	Incorporatedwhat	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	$10	million	at	December	31,	2020	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.24.	OTHER	REGULATORY	MATTERS	Huntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.	These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	with	respect	to	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock	and	certain	qualifying	capital	instruments.	Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.	Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets	and	certain	other	deductions).	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.	Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	2020	Form	10-K					169The	following	table	presents	other	information	relating	to	Huntington’s	affordable	housing	tax	credit	investments	for	the	years	ended	December	31,	2020,	2019,	and	2018:		Year	Ended	December	31,(dollar	amounts	in	millions)202020192018Tax	credits	and	other	tax	benefits	recognized$	113	$	98	$	92	Proportional	amortization	expense	included	in	provision	for	income	taxes	97		84		79	Other	InvestmentsOther	investments	determined	to	be	VIE’s	include	investments	in	Small	Business	Investment	Companies,	Historic	Tax	Credit	Investments,	certain	equity	method	investments,	renewable	energy	financings,	and	other	miscellaneous	investments.23.	COMMITMENTS	AND	CONTINGENT	LIABILITIESCommitments	to	extend	creditIn	the	ordinary	course	of	business,	Huntington	makes	various	commitments	to	extend	credit	that	are	not	reflected	in	the	Consolidated	Financial	Statements.		The	contract	amounts	of	these	financial	agreements	at	December	31,	2020,	and	December	31,	2019	were	as	follows:		At	December	31,(dollar	amounts	in	millions)20202019Contract	amount	representing	credit	riskCommitments	to	extend	credit:Commercial$	20,701	$	18,326	Consumer	14,808		14,831	Commercial	real	estate	1,313		1,364	Standby	letters	of	credit	581		587	Commercial	letters	of	credit	21		8	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.Standby	letters	of	credit	are	conditional	commitments	issued	to	guarantee	the	performance	of	a	customer	to	a	third-party.		These	guarantees	are	primarily	issued	to	support	public	and	private	borrowing	arrangements,	including	commercial	paper,	bond	financing,	and	similar	transactions.		Most	of	these	arrangements	mature	within	two	years.		The	carrying	amount	of	deferred	revenue	associated	with	these	guarantees	was	$5	million	and	$8	million	at	December	31,	2020	and	December	31,	2019,	respectively.Commercial	letters	of	credit	represent	short-term,	self-liquidating	instruments	that	facilitate	customer	trade	transactions	and	generally	have	maturities	of	no	longer	than	90	days.		The	goods	or	cargo	being	traded	normally	secure	these	instruments.	Litigation	and	Regulatory	Matters	In	the	ordinary	course	of	business,	Huntington	is	routinely	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,	168					Huntington	Bancshares	Incorporatedwhat	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	$10	million	at	December	31,	2020	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.24.	OTHER	REGULATORY	MATTERS	Huntington	and	the	Bank	are	subject	to	certain	risk-based	capital	and	leverage	ratio	requirements	under	the	U.S.	Basel	III	capital	rules	adopted	by	the	Federal	Reserve,	for	Huntington,	and	by	the	OCC,	for	the	Bank.	These	rules	implement	the	Basel	III	international	regulatory	capital	standards	in	the	United	States,	as	well	as	certain	provisions	of	the	Dodd-Frank	Act.		These	quantitative	calculations	are	minimums,	and	the	Federal	Reserve	and	OCC	may	determine	that	a	banking	organization,	based	on	its	size,	complexity	or	risk	profile,	must	maintain	a	higher	level	of	capital	in	order	to	operate	in	a	safe	and	sound	manner.Under	the	U.S.	Basel	III	capital	rules,	Huntington’s	and	the	Bank’s	assets,	exposures	and	certain	off-balance	sheet	items	are	subject	to	risk	weights	used	to	determine	the	institutions’	risk-weighted	assets.		These	risk-weighted	assets	are	used	to	calculate	the	following	minimum	capital	ratios	for	Huntington	and	the	Bank:CET1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	CET1	capital	to	risk-weighted	assets.		CET1	capital	primarily	includes	common	shareholders’	equity	subject	to	certain	regulatory	adjustments	and	deductions,	including	with	respect	to	goodwill,	intangible	assets,	certain	deferred	tax	assets,	and	AOCI.Tier	1	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	risk-weighted	assets.		Tier	1	capital	is	primarily	comprised	of	CET1	capital,	perpetual	preferred	stock	and	certain	qualifying	capital	instruments.	Total	Risk-Based	Capital	Ratio,	equal	to	the	ratio	of	total	capital,	including	CET1	capital,	Tier	1	capital	and	Tier	2	capital,	to	risk-weighted	assets.		Tier	2	capital	primarily	includes	qualifying	subordinated	debt	and	qualifying	ALLL.		Tier	2	capital	also	includes,	among	other	things,	certain	trust	preferred	securities.	Tier	1	Leverage	Ratio,	equal	to	the	ratio	of	Tier	1	capital	to	quarterly	average	assets	(net	of	goodwill,	certain	other	intangible	assets	and	certain	other	deductions).	The	total	minimum	regulatory	capital	ratios	and	well-capitalized	minimum	ratios	are	reflected	on	the	following	page.	Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	result	in	certain	mandatory	and	possible	additional	discretionary	actions	by	regulators	that,	if	undertaken,	could	have	an	adverse	material	effect	on	our	operations	or	financial	condition.		Failure	to	be	well-capitalized	or	to	meet	minimum	capital	requirements	could	2020	Form	10-K					169also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		In	March	2020,	the	Federal	Reserve	replaced	the	existing	Capital	Conservation	Buffer	with	the	stress	capital	buffer,	which	has	been	established	as	2.5%	for	Huntington.		As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	applicable	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.		Please	refer	to	the	table	below	for	a	summary	of	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.MinimumMinimumBasel	IIIRegulatoryRatio+CapitalWell-December	31,CapitalConservationCapitalized20202019(dollar	amounts	in	millions)RatiosBuffer	(1)MinimumsRatioAmountRatioAmountCET	1	risk-based	capitalConsolidated	4.50	%	7.00	%N/A	10.00	%$	8,887		9.88	%$	8,647	Bank	4.50		7.00		6.50	%	10.65		9,438		11.17		9,747	Tier	1	risk-based	capitalConsolidated	6.00		8.50		6.00		12.47		11,083		11.26		9,854	Bank	6.00		8.50		8.00		11.97		10,601		12.17		10,621	Total	risk-based	capitalConsolidated	8.00		10.50		10.00		14.46		12,856		13.04		11,413	Bank	8.00		10.50		10.00		13.58		12,032		13.59		11,864	Tier	1	leverage	Consolidated	4.00	N/AN/A					9.32		11,083		9.26		9,854	Bank	4.00	N/A	5.00		8.94		10,601		10.01		10,621	(1)		Reflects	the	stress	capital	buffer	of	2.5%	for	Huntington	and	the	Capital	Conservation	Buffer	of	2.5%	for	the	Bank.Huntington	and	its	subsidiaries	are	also	subject	to	various	regulatory	requirements	that	impose	restrictions	on	cash,	debt,	and	dividends.		The	Bank	is	required	to	maintain	cash	reserves	based	on	the	level	of	certain	of	its	deposits.		This	reserve	requirement	may	be	met	by	holding	cash	in	banking	offices	or	on	deposit	at	the	FRB.		During	2020	and	2019,	the	average	balances	of	these	deposits	were	$3.9	billion	and	$0.6	billion,	respectively.Under	current	Federal	Reserve	regulations,	the	Bank	is	limited	as	to	the	amount	and	type	of	loans	it	may	make	to	the	parent	company	and	nonbank	subsidiaries.		At	December	31,	2020,	the	Bank	could	lend	$1.2	billion	to	a	single	affiliate,	subject	to	the	qualifying	collateral	requirements	defined	in	the	regulations.Dividends	from	the	Bank	are	one	of	the	major	sources	of	funds	for	the	Company.		These	funds	aid	the	Company	in	the	payment	of	dividends	to	shareholders,	expenses,	and	other	obligations.		Payment	of	dividends	and/or	return	of	capital	to	the	parent	company	is	subject	to	various	legal	and	regulatory	limitations.		During	2020,	the	Bank	paid	dividends	of	$1.5	billion	to	the	holding	company.		Also,	there	are	statutory	and	regulatory	limitations	on	the	ability	of	national	banks	to	pay	dividends	or	make	other	capital	distributions.170					Huntington	Bancshares	Incorporated25.	PARENT-ONLY	FINANCIAL	STATEMENTS	The	parent-only	financial	statements,	which	include	transactions	with	subsidiaries,	are	as	follows:Balance	SheetsDecember	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	4,466	$	3,119	Due	from	The	Huntington	National	Bank	297		47	Due	from	non-bank	subsidiaries	37		34	Investment	in	The	Huntington	National	Bank	12,509		12,833	Investment	in	non-bank	subsidiaries	147		165	Accrued	interest	receivable	and	other	assets	429		349	Total	assets$	17,885	$	16,547	Liabilities	and	shareholders’	equityLong-term	borrowings$	4,142	$	4,095	Dividends	payable,	accrued	expenses,	and	other	liabilities	750		657	Total	liabilities	4,892		4,752	Shareholders’	equity	(1)	12,993		11,795	Total	liabilities	and	shareholders’	equity$	17,885	$	16,547	(1)See	Consolidated	Statements	of	Changes	in	Shareholders’	Equity.Statements	of	IncomeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018IncomeDividends	from:The	Huntington	National	Bank$	1,527	$	685	$	1,722	Non-bank	subsidiaries	36		3		—	Interest	from:The	Huntington	National	Bank	4		8		27	Non-bank	subsidiaries	1		2		2	Other	11		2		(2)	Total	income	1,579		700		1,749	ExpensePersonnel	costs	17		6		2	Interest	on	borrowings	115		143		124	Other	123		145		118	Total	expense	255		294		244	Income	before	income	taxes	and	equity	in	undistributed	net	income	of	subsidiaries	1,324		406		1,505	Provision	(benefit)	for	income	taxes	(46)		(63)		(48)	Income	before	equity	in	undistributed	net	income	of	subsidiaries	1,370		469		1,553	Increase	(decrease)	in	undistributed	net	income	(loss)	of:The	Huntington	National	Bank	(547)		908		(186)	Non-bank	subsidiaries	(6)		34		26	Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income	(loss)	(1)	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	(1)See	Consolidated	Statements	of	Comprehensive	Income	for	other	comprehensive	income	(loss)	detail.2020	Form	10-K					171also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		In	March	2020,	the	Federal	Reserve	replaced	the	existing	Capital	Conservation	Buffer	with	the	stress	capital	buffer,	which	has	been	established	as	2.5%	for	Huntington.		As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	applicable	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.		Please	refer	to	the	table	below	for	a	summary	of	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.MinimumMinimumBasel	IIIRegulatoryRatio+CapitalWell-December	31,CapitalConservationCapitalized20202019(dollar	amounts	in	millions)RatiosBuffer	(1)MinimumsRatioAmountRatioAmountCET	1	risk-based	capitalConsolidated	4.50	%	7.00	%N/A	10.00	%$	8,887		9.88	%$	8,647	Bank	4.50		7.00		6.50	%	10.65		9,438		11.17		9,747	Tier	1	risk-based	capitalConsolidated	6.00		8.50		6.00		12.47		11,083		11.26		9,854	Bank	6.00		8.50		8.00		11.97		10,601		12.17		10,621	Total	risk-based	capitalConsolidated	8.00		10.50		10.00		14.46		12,856		13.04		11,413	Bank	8.00		10.50		10.00		13.58		12,032		13.59		11,864	Tier	1	leverage	Consolidated	4.00	N/AN/A					9.32		11,083		9.26		9,854	Bank	4.00	N/A	5.00		8.94		10,601		10.01		10,621	(1)		Reflects	the	stress	capital	buffer	of	2.5%	for	Huntington	and	the	Capital	Conservation	Buffer	of	2.5%	for	the	Bank.Huntington	and	its	subsidiaries	are	also	subject	to	various	regulatory	requirements	that	impose	restrictions	on	cash,	debt,	and	dividends.		The	Bank	is	required	to	maintain	cash	reserves	based	on	the	level	of	certain	of	its	deposits.		This	reserve	requirement	may	be	met	by	holding	cash	in	banking	offices	or	on	deposit	at	the	FRB.		During	2020	and	2019,	the	average	balances	of	these	deposits	were	$3.9	billion	and	$0.6	billion,	respectively.Under	current	Federal	Reserve	regulations,	the	Bank	is	limited	as	to	the	amount	and	type	of	loans	it	may	make	to	the	parent	company	and	nonbank	subsidiaries.		At	December	31,	2020,	the	Bank	could	lend	$1.2	billion	to	a	single	affiliate,	subject	to	the	qualifying	collateral	requirements	defined	in	the	regulations.Dividends	from	the	Bank	are	one	of	the	major	sources	of	funds	for	the	Company.		These	funds	aid	the	Company	in	the	payment	of	dividends	to	shareholders,	expenses,	and	other	obligations.		Payment	of	dividends	and/or	return	of	capital	to	the	parent	company	is	subject	to	various	legal	and	regulatory	limitations.		During	2020,	the	Bank	paid	dividends	of	$1.5	billion	to	the	holding	company.		Also,	there	are	statutory	and	regulatory	limitations	on	the	ability	of	national	banks	to	pay	dividends	or	make	other	capital	distributions.170					Huntington	Bancshares	Incorporated25.	PARENT-ONLY	FINANCIAL	STATEMENTS	The	parent-only	financial	statements,	which	include	transactions	with	subsidiaries,	are	as	follows:Balance	SheetsDecember	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	4,466	$	3,119	Due	from	The	Huntington	National	Bank	297		47	Due	from	non-bank	subsidiaries	37		34	Investment	in	The	Huntington	National	Bank	12,509		12,833	Investment	in	non-bank	subsidiaries	147		165	Accrued	interest	receivable	and	other	assets	429		349	Total	assets$	17,885	$	16,547	Liabilities	and	shareholders’	equityLong-term	borrowings$	4,142	$	4,095	Dividends	payable,	accrued	expenses,	and	other	liabilities	750		657	Total	liabilities	4,892		4,752	Shareholders’	equity	(1)	12,993		11,795	Total	liabilities	and	shareholders’	equity$	17,885	$	16,547	(1)See	Consolidated	Statements	of	Changes	in	Shareholders’	Equity.Statements	of	IncomeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018IncomeDividends	from:The	Huntington	National	Bank$	1,527	$	685	$	1,722	Non-bank	subsidiaries	36		3		—	Interest	from:The	Huntington	National	Bank	4		8		27	Non-bank	subsidiaries	1		2		2	Other	11		2		(2)	Total	income	1,579		700		1,749	ExpensePersonnel	costs	17		6		2	Interest	on	borrowings	115		143		124	Other	123		145		118	Total	expense	255		294		244	Income	before	income	taxes	and	equity	in	undistributed	net	income	of	subsidiaries	1,324		406		1,505	Provision	(benefit)	for	income	taxes	(46)		(63)		(48)	Income	before	equity	in	undistributed	net	income	of	subsidiaries	1,370		469		1,553	Increase	(decrease)	in	undistributed	net	income	(loss)	of:The	Huntington	National	Bank	(547)		908		(186)	Non-bank	subsidiaries	(6)		34		26	Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income	(loss)	(1)	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	(1)See	Consolidated	Statements	of	Comprehensive	Income	for	other	comprehensive	income	(loss)	detail.2020	Form	10-K					171also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		In	March	2020,	the	Federal	Reserve	replaced	the	existing	Capital	Conservation	Buffer	with	the	stress	capital	buffer,	which	has	been	established	as	2.5%	for	Huntington.		As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	applicable	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.		Please	refer	to	the	table	below	for	a	summary	of	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.MinimumMinimumBasel	IIIRegulatoryRatio+CapitalWell-December	31,CapitalConservationCapitalized20202019(dollar	amounts	in	millions)RatiosBuffer	(1)MinimumsRatioAmountRatioAmountCET	1	risk-based	capitalConsolidated	4.50	%	7.00	%N/A	10.00	%$	8,887		9.88	%$	8,647	Bank	4.50		7.00		6.50	%	10.65		9,438		11.17		9,747	Tier	1	risk-based	capitalConsolidated	6.00		8.50		6.00		12.47		11,083		11.26		9,854	Bank	6.00		8.50		8.00		11.97		10,601		12.17		10,621	Total	risk-based	capitalConsolidated	8.00		10.50		10.00		14.46		12,856		13.04		11,413	Bank	8.00		10.50		10.00		13.58		12,032		13.59		11,864	Tier	1	leverage	Consolidated	4.00	N/AN/A					9.32		11,083		9.26		9,854	Bank	4.00	N/A	5.00		8.94		10,601		10.01		10,621	(1)		Reflects	the	stress	capital	buffer	of	2.5%	for	Huntington	and	the	Capital	Conservation	Buffer	of	2.5%	for	the	Bank.Huntington	and	its	subsidiaries	are	also	subject	to	various	regulatory	requirements	that	impose	restrictions	on	cash,	debt,	and	dividends.		The	Bank	is	required	to	maintain	cash	reserves	based	on	the	level	of	certain	of	its	deposits.		This	reserve	requirement	may	be	met	by	holding	cash	in	banking	offices	or	on	deposit	at	the	FRB.		During	2020	and	2019,	the	average	balances	of	these	deposits	were	$3.9	billion	and	$0.6	billion,	respectively.Under	current	Federal	Reserve	regulations,	the	Bank	is	limited	as	to	the	amount	and	type	of	loans	it	may	make	to	the	parent	company	and	nonbank	subsidiaries.		At	December	31,	2020,	the	Bank	could	lend	$1.2	billion	to	a	single	affiliate,	subject	to	the	qualifying	collateral	requirements	defined	in	the	regulations.Dividends	from	the	Bank	are	one	of	the	major	sources	of	funds	for	the	Company.		These	funds	aid	the	Company	in	the	payment	of	dividends	to	shareholders,	expenses,	and	other	obligations.		Payment	of	dividends	and/or	return	of	capital	to	the	parent	company	is	subject	to	various	legal	and	regulatory	limitations.		During	2020,	the	Bank	paid	dividends	of	$1.5	billion	to	the	holding	company.		Also,	there	are	statutory	and	regulatory	limitations	on	the	ability	of	national	banks	to	pay	dividends	or	make	other	capital	distributions.170					Huntington	Bancshares	Incorporated25.	PARENT-ONLY	FINANCIAL	STATEMENTS	The	parent-only	financial	statements,	which	include	transactions	with	subsidiaries,	are	as	follows:Balance	SheetsDecember	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	4,466	$	3,119	Due	from	The	Huntington	National	Bank	297		47	Due	from	non-bank	subsidiaries	37		34	Investment	in	The	Huntington	National	Bank	12,509		12,833	Investment	in	non-bank	subsidiaries	147		165	Accrued	interest	receivable	and	other	assets	429		349	Total	assets$	17,885	$	16,547	Liabilities	and	shareholders’	equityLong-term	borrowings$	4,142	$	4,095	Dividends	payable,	accrued	expenses,	and	other	liabilities	750		657	Total	liabilities	4,892		4,752	Shareholders’	equity	(1)	12,993		11,795	Total	liabilities	and	shareholders’	equity$	17,885	$	16,547	(1)See	Consolidated	Statements	of	Changes	in	Shareholders’	Equity.Statements	of	IncomeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018IncomeDividends	from:The	Huntington	National	Bank$	1,527	$	685	$	1,722	Non-bank	subsidiaries	36		3		—	Interest	from:The	Huntington	National	Bank	4		8		27	Non-bank	subsidiaries	1		2		2	Other	11		2		(2)	Total	income	1,579		700		1,749	ExpensePersonnel	costs	17		6		2	Interest	on	borrowings	115		143		124	Other	123		145		118	Total	expense	255		294		244	Income	before	income	taxes	and	equity	in	undistributed	net	income	of	subsidiaries	1,324		406		1,505	Provision	(benefit)	for	income	taxes	(46)		(63)		(48)	Income	before	equity	in	undistributed	net	income	of	subsidiaries	1,370		469		1,553	Increase	(decrease)	in	undistributed	net	income	(loss)	of:The	Huntington	National	Bank	(547)		908		(186)	Non-bank	subsidiaries	(6)		34		26	Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income	(loss)	(1)	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	(1)See	Consolidated	Statements	of	Comprehensive	Income	for	other	comprehensive	income	(loss)	detail.2020	Form	10-K					171also	result	in	restrictions	on	Huntington’s	or	the	Bank’s	ability	to	pay	dividends	or	otherwise	distribute	capital	or	to	receive	regulatory	approval	of	applications.In	addition	to	meeting	the	minimum	capital	requirements,	under	the	U.S.	Basel	III	capital	rules	Huntington	and	the	Bank	must	also	maintain	the	required	stress	capital	buffer	and	Capital	Conservation	Buffer,	respectively,	to	avoid	becoming	subject	to	restrictions	on	capital	distributions	and	certain	discretionary	bonus	payments	to	management.		The	Capital	Conservation	Buffer	is	calculated	as	a	ratio	of	CET1	capital	to	risk-weighted	assets,	and	it	effectively	increases	the	required	minimum	risk-based	capital	ratios.		In	March	2020,	the	Federal	Reserve	replaced	the	existing	Capital	Conservation	Buffer	with	the	stress	capital	buffer,	which	has	been	established	as	2.5%	for	Huntington.		As	of	December	31,	2020,	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	were	above	the	well-capitalized	standards	and	met	the	applicable	stress	capital	buffer	and	the	Capital	Conservation	Buffer,	respectively.		Please	refer	to	the	table	below	for	a	summary	of	Huntington’s	and	the	Bank’s	regulatory	capital	ratios	as	of	December	31,	2020,	calculated	using	the	regulatory	capital	methodology	applicable	during	2020.MinimumMinimumBasel	IIIRegulatoryRatio+CapitalWell-December	31,CapitalConservationCapitalized20202019(dollar	amounts	in	millions)RatiosBuffer	(1)MinimumsRatioAmountRatioAmountCET	1	risk-based	capitalConsolidated	4.50	%	7.00	%N/A	10.00	%$	8,887		9.88	%$	8,647	Bank	4.50		7.00		6.50	%	10.65		9,438		11.17		9,747	Tier	1	risk-based	capitalConsolidated	6.00		8.50		6.00		12.47		11,083		11.26		9,854	Bank	6.00		8.50		8.00		11.97		10,601		12.17		10,621	Total	risk-based	capitalConsolidated	8.00		10.50		10.00		14.46		12,856		13.04		11,413	Bank	8.00		10.50		10.00		13.58		12,032		13.59		11,864	Tier	1	leverage	Consolidated	4.00	N/AN/A					9.32		11,083		9.26		9,854	Bank	4.00	N/A	5.00		8.94		10,601		10.01		10,621	(1)		Reflects	the	stress	capital	buffer	of	2.5%	for	Huntington	and	the	Capital	Conservation	Buffer	of	2.5%	for	the	Bank.Huntington	and	its	subsidiaries	are	also	subject	to	various	regulatory	requirements	that	impose	restrictions	on	cash,	debt,	and	dividends.		The	Bank	is	required	to	maintain	cash	reserves	based	on	the	level	of	certain	of	its	deposits.		This	reserve	requirement	may	be	met	by	holding	cash	in	banking	offices	or	on	deposit	at	the	FRB.		During	2020	and	2019,	the	average	balances	of	these	deposits	were	$3.9	billion	and	$0.6	billion,	respectively.Under	current	Federal	Reserve	regulations,	the	Bank	is	limited	as	to	the	amount	and	type	of	loans	it	may	make	to	the	parent	company	and	nonbank	subsidiaries.		At	December	31,	2020,	the	Bank	could	lend	$1.2	billion	to	a	single	affiliate,	subject	to	the	qualifying	collateral	requirements	defined	in	the	regulations.Dividends	from	the	Bank	are	one	of	the	major	sources	of	funds	for	the	Company.		These	funds	aid	the	Company	in	the	payment	of	dividends	to	shareholders,	expenses,	and	other	obligations.		Payment	of	dividends	and/or	return	of	capital	to	the	parent	company	is	subject	to	various	legal	and	regulatory	limitations.		During	2020,	the	Bank	paid	dividends	of	$1.5	billion	to	the	holding	company.		Also,	there	are	statutory	and	regulatory	limitations	on	the	ability	of	national	banks	to	pay	dividends	or	make	other	capital	distributions.170					Huntington	Bancshares	Incorporated25.	PARENT-ONLY	FINANCIAL	STATEMENTS	The	parent-only	financial	statements,	which	include	transactions	with	subsidiaries,	are	as	follows:Balance	SheetsDecember	31,(dollar	amounts	in	millions)20202019AssetsCash	and	due	from	banks$	4,466	$	3,119	Due	from	The	Huntington	National	Bank	297		47	Due	from	non-bank	subsidiaries	37		34	Investment	in	The	Huntington	National	Bank	12,509		12,833	Investment	in	non-bank	subsidiaries	147		165	Accrued	interest	receivable	and	other	assets	429		349	Total	assets$	17,885	$	16,547	Liabilities	and	shareholders’	equityLong-term	borrowings$	4,142	$	4,095	Dividends	payable,	accrued	expenses,	and	other	liabilities	750		657	Total	liabilities	4,892		4,752	Shareholders’	equity	(1)	12,993		11,795	Total	liabilities	and	shareholders’	equity$	17,885	$	16,547	(1)See	Consolidated	Statements	of	Changes	in	Shareholders’	Equity.Statements	of	IncomeYear	Ended	December	31,(dollar	amounts	in	millions)202020192018IncomeDividends	from:The	Huntington	National	Bank$	1,527	$	685	$	1,722	Non-bank	subsidiaries	36		3		—	Interest	from:The	Huntington	National	Bank	4		8		27	Non-bank	subsidiaries	1		2		2	Other	11		2		(2)	Total	income	1,579		700		1,749	ExpensePersonnel	costs	17		6		2	Interest	on	borrowings	115		143		124	Other	123		145		118	Total	expense	255		294		244	Income	before	income	taxes	and	equity	in	undistributed	net	income	of	subsidiaries	1,324		406		1,505	Provision	(benefit)	for	income	taxes	(46)		(63)		(48)	Income	before	equity	in	undistributed	net	income	of	subsidiaries	1,370		469		1,553	Increase	(decrease)	in	undistributed	net	income	(loss)	of:The	Huntington	National	Bank	(547)		908		(186)	Non-bank	subsidiaries	(6)		34		26	Net	income$	817	$	1,411	$	1,393	Other	comprehensive	income	(loss)	(1)	448		353		(80)	Comprehensive	income$	1,265	$	1,764	$	1,313	(1)See	Consolidated	Statements	of	Comprehensive	Income	for	other	comprehensive	income	(loss)	detail.2020	Form	10-K					171Statements	of	Cash	FlowsYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	operating	activities:Equity	in	undistributed	net	income	of	subsidiaries	553		(942)		197	Depreciation	and	amortization	—		(2)		(2)	Other,	net	89		(19)		121	Net	cash	(used	for)	provided	by	operating	activities	1,459		448		1,709	Investing	activitiesRepayments	from	subsidiaries	8		701		21	Advances	to	subsidiaries	(256)		(11)		(13)	(Purchases)/Proceeds	from	sale	of	securities	(1)		(38)		—	Cash	paid	for	acquisitions,	net	of	cash	received	—		—		(15)	Net	cash	(used	for)	provided	by	investing	activities	(249)		652		(7)	Financing	activitiesNet	proceeds	from	issuance	of	medium-term	notes	747		797		501	Payment	of	medium-term	notes	—		—		(400)	Payment	of	long-term	debt	(800)		—		—	Dividends	paid	on	common	and	preferred	stock	(698)		(671)		(584)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Other,	net	(8)		(18)		(41)	Net	cash	provided	by	(used	for)	financing	activities	137		(333)		(968)	Increase	(decrease)	in	cash	and	cash	equivalents	1,347		767		734	Cash	and	cash	equivalents	at	beginning	of	year	3,119		2,352		1,618	Cash	and	cash	equivalents	at	end	of	year$	4,466	$	3,119	$	2,352	Supplemental	disclosure:Interest	paid$	113	$	135	$	126	26.	SEGMENT	REPORTING	Huntington’s	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	management	monitors	results	and	assesses	performance.		The	Company	has	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.	Business	segment	results	are	determined	based	upon	Huntington’s	management	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	the	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.		Additionally,	because	of	the	interrelationships	of	the	various	segments,	the	information	presented	is	not	indicative	of	how	the	segments	would	perform	if	they	operated	as	independent	entities.Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.The	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		Huntington	172					Huntington	Bancshares	Incorporatedutilizes	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses,	except	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.The	management	policies	and	processes	utilized	in	compiling	segment	financial	information	are	highly	subjective	and,	unlike	financial	accounting,	are	not	based	on	authoritative	guidance	similar	to	GAAP.		As	a	result,	reported	segment	results	are	not	necessarily	comparable	with	similar	information	reported	by	other	financial	institutions.		Furthermore,	changes	in	management	structure	or	allocation	methodologies	and	procedures	result	in	changes	in	reported	segment	financial	data.		Accordingly,	certain	amounts	have	been	reclassified	to	conform	to	the	current	period	presentation.Huntington	uses	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Consumer	and	Business	Banking	-	The	Consumer	and	Business	Banking	segment,	including	Home	Lending,	provides	a	wide	array	of	financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	checking	accounts,	savings	accounts,	money	market	accounts,	certificates	of	deposit,	mortgage	loans,	consumer	loans,	credit	cards,	and	small	business	loans	and	investment	products.		Other	financial	services	available	to	customers	include	insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Business	Banking	is	defined	as	serving	companies	with	revenues	up	to	$20	million.		Home	Lending	supports	origination	and	servicing	of	consumer	loans	and	mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets	across	all	segments.Commercial	Banking	-	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	Markets	Group.		Vehicle	Finance	-	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	partners.	Regional	Banking	and	The	Huntington	Private	Client	Group	-	The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.2020	Form	10-K					173Statements	of	Cash	FlowsYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	operating	activities:Equity	in	undistributed	net	income	of	subsidiaries	553		(942)		197	Depreciation	and	amortization	—		(2)		(2)	Other,	net	89		(19)		121	Net	cash	(used	for)	provided	by	operating	activities	1,459		448		1,709	Investing	activitiesRepayments	from	subsidiaries	8		701		21	Advances	to	subsidiaries	(256)		(11)		(13)	(Purchases)/Proceeds	from	sale	of	securities	(1)		(38)		—	Cash	paid	for	acquisitions,	net	of	cash	received	—		—		(15)	Net	cash	(used	for)	provided	by	investing	activities	(249)		652		(7)	Financing	activitiesNet	proceeds	from	issuance	of	medium-term	notes	747		797		501	Payment	of	medium-term	notes	—		—		(400)	Payment	of	long-term	debt	(800)		—		—	Dividends	paid	on	common	and	preferred	stock	(698)		(671)		(584)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Other,	net	(8)		(18)		(41)	Net	cash	provided	by	(used	for)	financing	activities	137		(333)		(968)	Increase	(decrease)	in	cash	and	cash	equivalents	1,347		767		734	Cash	and	cash	equivalents	at	beginning	of	year	3,119		2,352		1,618	Cash	and	cash	equivalents	at	end	of	year$	4,466	$	3,119	$	2,352	Supplemental	disclosure:Interest	paid$	113	$	135	$	126	26.	SEGMENT	REPORTING	Huntington’s	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	management	monitors	results	and	assesses	performance.		The	Company	has	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.	Business	segment	results	are	determined	based	upon	Huntington’s	management	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	the	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.		Additionally,	because	of	the	interrelationships	of	the	various	segments,	the	information	presented	is	not	indicative	of	how	the	segments	would	perform	if	they	operated	as	independent	entities.Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.The	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		Huntington	172					Huntington	Bancshares	Incorporatedutilizes	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses,	except	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.The	management	policies	and	processes	utilized	in	compiling	segment	financial	information	are	highly	subjective	and,	unlike	financial	accounting,	are	not	based	on	authoritative	guidance	similar	to	GAAP.		As	a	result,	reported	segment	results	are	not	necessarily	comparable	with	similar	information	reported	by	other	financial	institutions.		Furthermore,	changes	in	management	structure	or	allocation	methodologies	and	procedures	result	in	changes	in	reported	segment	financial	data.		Accordingly,	certain	amounts	have	been	reclassified	to	conform	to	the	current	period	presentation.Huntington	uses	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Consumer	and	Business	Banking	-	The	Consumer	and	Business	Banking	segment,	including	Home	Lending,	provides	a	wide	array	of	financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	checking	accounts,	savings	accounts,	money	market	accounts,	certificates	of	deposit,	mortgage	loans,	consumer	loans,	credit	cards,	and	small	business	loans	and	investment	products.		Other	financial	services	available	to	customers	include	insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Business	Banking	is	defined	as	serving	companies	with	revenues	up	to	$20	million.		Home	Lending	supports	origination	and	servicing	of	consumer	loans	and	mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets	across	all	segments.Commercial	Banking	-	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	Markets	Group.		Vehicle	Finance	-	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	partners.	Regional	Banking	and	The	Huntington	Private	Client	Group	-	The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.2020	Form	10-K					173Statements	of	Cash	FlowsYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	operating	activities:Equity	in	undistributed	net	income	of	subsidiaries	553		(942)		197	Depreciation	and	amortization	—		(2)		(2)	Other,	net	89		(19)		121	Net	cash	(used	for)	provided	by	operating	activities	1,459		448		1,709	Investing	activitiesRepayments	from	subsidiaries	8		701		21	Advances	to	subsidiaries	(256)		(11)		(13)	(Purchases)/Proceeds	from	sale	of	securities	(1)		(38)		—	Cash	paid	for	acquisitions,	net	of	cash	received	—		—		(15)	Net	cash	(used	for)	provided	by	investing	activities	(249)		652		(7)	Financing	activitiesNet	proceeds	from	issuance	of	medium-term	notes	747		797		501	Payment	of	medium-term	notes	—		—		(400)	Payment	of	long-term	debt	(800)		—		—	Dividends	paid	on	common	and	preferred	stock	(698)		(671)		(584)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Other,	net	(8)		(18)		(41)	Net	cash	provided	by	(used	for)	financing	activities	137		(333)		(968)	Increase	(decrease)	in	cash	and	cash	equivalents	1,347		767		734	Cash	and	cash	equivalents	at	beginning	of	year	3,119		2,352		1,618	Cash	and	cash	equivalents	at	end	of	year$	4,466	$	3,119	$	2,352	Supplemental	disclosure:Interest	paid$	113	$	135	$	126	26.	SEGMENT	REPORTING	Huntington’s	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	management	monitors	results	and	assesses	performance.		The	Company	has	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.	Business	segment	results	are	determined	based	upon	Huntington’s	management	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	the	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.		Additionally,	because	of	the	interrelationships	of	the	various	segments,	the	information	presented	is	not	indicative	of	how	the	segments	would	perform	if	they	operated	as	independent	entities.Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.The	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		Huntington	172					Huntington	Bancshares	Incorporatedutilizes	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses,	except	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.The	management	policies	and	processes	utilized	in	compiling	segment	financial	information	are	highly	subjective	and,	unlike	financial	accounting,	are	not	based	on	authoritative	guidance	similar	to	GAAP.		As	a	result,	reported	segment	results	are	not	necessarily	comparable	with	similar	information	reported	by	other	financial	institutions.		Furthermore,	changes	in	management	structure	or	allocation	methodologies	and	procedures	result	in	changes	in	reported	segment	financial	data.		Accordingly,	certain	amounts	have	been	reclassified	to	conform	to	the	current	period	presentation.Huntington	uses	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Consumer	and	Business	Banking	-	The	Consumer	and	Business	Banking	segment,	including	Home	Lending,	provides	a	wide	array	of	financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	checking	accounts,	savings	accounts,	money	market	accounts,	certificates	of	deposit,	mortgage	loans,	consumer	loans,	credit	cards,	and	small	business	loans	and	investment	products.		Other	financial	services	available	to	customers	include	insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Business	Banking	is	defined	as	serving	companies	with	revenues	up	to	$20	million.		Home	Lending	supports	origination	and	servicing	of	consumer	loans	and	mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets	across	all	segments.Commercial	Banking	-	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	Markets	Group.		Vehicle	Finance	-	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	partners.	Regional	Banking	and	The	Huntington	Private	Client	Group	-	The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.2020	Form	10-K					173Statements	of	Cash	FlowsYear	Ended	December	31,(dollar	amounts	in	millions)202020192018Operating	activitiesNet	income$	817	$	1,411	$	1,393	Adjustments	to	reconcile	net	income	to	net	cash	provided	by	operating	activities:Equity	in	undistributed	net	income	of	subsidiaries	553		(942)		197	Depreciation	and	amortization	—		(2)		(2)	Other,	net	89		(19)		121	Net	cash	(used	for)	provided	by	operating	activities	1,459		448		1,709	Investing	activitiesRepayments	from	subsidiaries	8		701		21	Advances	to	subsidiaries	(256)		(11)		(13)	(Purchases)/Proceeds	from	sale	of	securities	(1)		(38)		—	Cash	paid	for	acquisitions,	net	of	cash	received	—		—		(15)	Net	cash	(used	for)	provided	by	investing	activities	(249)		652		(7)	Financing	activitiesNet	proceeds	from	issuance	of	medium-term	notes	747		797		501	Payment	of	medium-term	notes	—		—		(400)	Payment	of	long-term	debt	(800)		—		—	Dividends	paid	on	common	and	preferred	stock	(698)		(671)		(584)	Repurchases	of	common	stock	(92)		(441)		(939)	Net	proceeds	from	issuance	of	preferred	stock	988		—		495	Other,	net	(8)		(18)		(41)	Net	cash	provided	by	(used	for)	financing	activities	137		(333)		(968)	Increase	(decrease)	in	cash	and	cash	equivalents	1,347		767		734	Cash	and	cash	equivalents	at	beginning	of	year	3,119		2,352		1,618	Cash	and	cash	equivalents	at	end	of	year$	4,466	$	3,119	$	2,352	Supplemental	disclosure:Interest	paid$	113	$	135	$	126	26.	SEGMENT	REPORTING	Huntington’s	business	segments	are	based	on	our	internally-aligned	segment	leadership	structure,	which	is	how	management	monitors	results	and	assesses	performance.		The	Company	has	four	major	business	segments:	Consumer	and	Business	Banking,	Commercial	Banking,	Vehicle	Finance,	Regional	Banking	and	The	Huntington	Private	Client	Group	(RBHPCG).		The	Treasury	/	Other	function	includes	technology	and	operations,	other	unallocated	assets,	liabilities,	revenue,	and	expense.	Business	segment	results	are	determined	based	upon	Huntington’s	management	reporting	system,	which	assigns	balance	sheet	and	income	statement	items	to	each	of	the	business	segments.		The	process	is	designed	around	the	organizational	and	management	structure	and,	accordingly,	the	results	derived	are	not	necessarily	comparable	with	similar	information	published	by	other	financial	institutions.		Additionally,	because	of	the	interrelationships	of	the	various	segments,	the	information	presented	is	not	indicative	of	how	the	segments	would	perform	if	they	operated	as	independent	entities.Revenue	is	recorded	in	the	business	segment	responsible	for	the	related	product	or	service.		Fee	sharing	is	recorded	to	allocate	portions	of	such	revenue	to	other	business	segments	involved	in	selling	to,	or	providing	service	to	customers.		Results	of	operations	for	the	business	segments	reflect	these	fee	sharing	allocations.The	management	process	that	develops	the	business	segment	reporting	utilizes	various	estimates	and	allocation	methodologies	to	measure	the	performance	of	the	business	segments.		Expenses	are	allocated	to	business	segments	using	a	two-phase	approach.		The	first	phase	consists	of	measuring	and	assigning	unit	costs	(activity-based	costs)	to	activities	related	to	product	origination	and	servicing.		These	activity-based	costs	are	then	extended,	based	on	volumes,	with	the	resulting	amount	allocated	to	business	segments	that	own	the	related	products.		The	second	phase	consists	of	the	allocation	of	overhead	costs	to	all	four	business	segments	from	Treasury	/	Other.		Huntington	172					Huntington	Bancshares	Incorporatedutilizes	a	full-allocation	methodology,	where	all	Treasury	/	Other	expenses,	except	a	small	amount	of	other	residual	unallocated	expenses,	are	allocated	to	the	four	business	segments.The	management	policies	and	processes	utilized	in	compiling	segment	financial	information	are	highly	subjective	and,	unlike	financial	accounting,	are	not	based	on	authoritative	guidance	similar	to	GAAP.		As	a	result,	reported	segment	results	are	not	necessarily	comparable	with	similar	information	reported	by	other	financial	institutions.		Furthermore,	changes	in	management	structure	or	allocation	methodologies	and	procedures	result	in	changes	in	reported	segment	financial	data.		Accordingly,	certain	amounts	have	been	reclassified	to	conform	to	the	current	period	presentation.Huntington	uses	an	active	and	centralized	FTP	methodology	to	attribute	appropriate	net	interest	income	to	the	business	segments.		The	intent	of	the	FTP	methodology	is	to	transfer	interest	rate	risk	from	the	business	segments	by	providing	matched	duration	funding	of	assets	and	liabilities.		The	result	is	to	centralize	the	financial	impact,	management,	and	reporting	of	interest	rate	risk	in	the	Treasury	/	Other	function	where	it	can	be	centrally	monitored	and	managed.		The	Treasury	/	Other	function	charges	(credits)	an	internal	cost	of	funds	for	assets	held	in	(or	pays	for	funding	provided	by)	each	business	segment.		The	FTP	rate	is	based	on	prevailing	market	interest	rates	for	comparable	duration	assets	(or	liabilities).		Consumer	and	Business	Banking	-	The	Consumer	and	Business	Banking	segment,	including	Home	Lending,	provides	a	wide	array	of	financial	products	and	services	to	consumer	and	small	business	customers	including	but	not	limited	to	checking	accounts,	savings	accounts,	money	market	accounts,	certificates	of	deposit,	mortgage	loans,	consumer	loans,	credit	cards,	and	small	business	loans	and	investment	products.		Other	financial	services	available	to	customers	include	insurance,	interest	rate	risk	protection,	foreign	exchange,	and	treasury	management.		Business	Banking	is	defined	as	serving	companies	with	revenues	up	to	$20	million.		Home	Lending	supports	origination	and	servicing	of	consumer	loans	and	mortgages	for	customers	who	are	generally	located	in	our	primary	banking	markets	across	all	segments.Commercial	Banking	-	Through	a	relationship	banking	model,	this	segment	provides	a	wide	array	of	products	and	services	to	the	middle	market,	large	corporate,	real	estate	and	government	public	sector	customers	located	primarily	within	our	geographic	footprint.		The	segment	is	divided	into	four	business	units:	Relationship	Banking	Group,	Specialized	Lending	Group,	Treasury	Management/Deposits	Group	and	Capital	Markets	Group.		Vehicle	Finance	-	Our	products	and	services	include	providing	financing	to	consumers	for	the	purchase	of	automobiles,	light-duty	trucks,	recreational	vehicles,	and	marine	craft	at	franchised	and	other	select	dealerships,	and	providing	financing	to	franchised	dealerships	for	the	acquisition	of	new	and	used	inventory.		Products	and	services	are	delivered	through	highly	specialized	relationship-focused	bankers	and	product	partners.	Regional	Banking	and	The	Huntington	Private	Client	Group	-	The	core	business	of	The	Huntington	Private	Client	Group	is	The	Huntington	Private	Bank,	which	consists	of	Private	Banking,	Wealth	&	Investment	Management,	and	Retirement	Plan	Services.		The	Huntington	Private	Bank	provides	high	net-worth	customers	with	deposit,	lending	(including	specialized	lending	options),	and	banking	services.		The	Huntington	Private	Bank	also	delivers	wealth	management	and	legacy	planning	through	investment	and	portfolio	management,	fiduciary	administration,	and	trust	services.		This	group	also	provides	retirement	plan	services	to	corporate	businesses.		The	Huntington	Private	Client	Group	provides	corporate	trust	services	and	institutional	and	mutual	fund	custody	services.2020	Form	10-K					173Listed	in	the	table	below	is	certain	operating	basis	financial	information	reconciled	to	Huntington’s	December	31,	2020,	December	31,	2019,	and	December	31,	2018,	reported	results	by	business	segment:Income	Statements(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntingtonConsolidated2020Net	interest	income$	1,436	$	903	$	430	$	160	$	295	$	3,224	Provision	(benefit)	for	credit	losses	265		626		146		11		—		1,048	Noninterest	income	945		364		9		201		72		1,591	Noninterest	expense	1,774		542		141		243		95		2,795	Provision	(benefit)	for	income	taxes	72		21		32		22		8		155	Net	income	(loss)$	270	$	78	$	120	$	85	$	264	$	817	2019Net	interest	income$	1,766	$	1,037	$	397	$	198	$	(185)	$	3,213	Provision	(benefit)	for	credit	losses	114		132		44		(3)		—		287	Noninterest	income	825		359		12		198		60		1,454	Noninterest	expense	1,673		564		148		256		80		2,721	Provision	(benefit)	for	income	taxes	169		147		45		30		(143)		248	Net	income	(loss)$	635	$	553	$	172	$	113	$	(62)	$	1,411	2018Net	interest	income$	1,727	$	1,013	$	392	$	203	$	(146)	$	3,189	Provision	(benefit)	for	credit	losses	137		42		55		1		—		235	Noninterest	income	744		321		11		193		52		1,321	Noninterest	expense	1,699		502		143		244		59		2,647	Provision	(benefit)	for	income	taxes	133		166		43		32		(139)		235	Net	income	(loss)$	502	$	624	$	162	$	119	$	(14)	$	1,393		Assets	atDecember	31,Deposits	atDecember	31,(dollar	amounts	in	millions)2020201920202019Consumer	&	Business	Banking$	30,758	$	25,073	$	60,910	$	51,675	Commercial	Banking	36,311		34,337		24,766		20,762	Vehicle	Finance	19,789		20,155		722		376	RBHPCG	7,064		6,665		7,635		6,370	Treasury	/	Other	29,116		22,772		4,915		3,164	Total$	123,038	$	109,002	$	98,948	$	82,347	174					Huntington	Bancshares	IncorporatedItem	9:	Changes	In	and	Disagreements	With	Accountants	on	Accounting	and	Financial	DisclosureNone.Item	9A:	Controls	and	ProceduresDisclosure	Controls	and	ProceduresHuntington	maintains	disclosure	controls	and	procedures	designed	to	ensure	that	the	information	required	to	be	disclosed	in	the	reports	that	it	files	or	submits	under	the	Securities	Exchange	Act	of	1934,	as	amended	(the	Exchange	Act),	are	recorded,	processed,	summarized,	and	reported	within	the	time	periods	specified	in	the	SEC’s	rules	and	forms.	Disclosure	controls	and	procedures	include,	without	limitation,	controls	and	procedures	designed	to	ensure	that	information	required	to	be	disclosed	by	an	issuer	in	the	reports	that	it	files	or	submits	under	the	Exchange	Act	is	accumulated	and	communicated	to	the	issuer’s	management,	including	its	principal	executive	and	principal	financial	officers,	or	persons	performing	similar	functions,	as	appropriate	to	allow	timely	decisions	regarding	required	disclosure.		Huntington’s	Management,	with	the	participation	of	its	Chief	Executive	Officer	and	the	Chief	Financial	Officer,	evaluated	the	effectiveness	of	Huntington’s	disclosure	controls	and	procedures	(as	such	term	is	defined	in	Rules	13a-15(e)	and	15d-15(e)	under	the	Exchange	Act)	as	of	December	31,	2020.		Based	upon	such	evaluation,	Huntington’s	Chief	Executive	Officer	and	Chief	Financial	Officer	have	concluded	that,	as	of	December	31,	2020,	Huntington’s	disclosure	controls	and	procedures	were	effective.Internal	Control	Over	Financial	ReportingInformation	required	by	this	item	is	set	forth	in	the	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	Reporting	and	the	Report	of	Independent	Registered	Public	Accounting	Firm.		Changes	in	Internal	Control	Over	Financial	ReportingThere	have	not	been	any	changes	in	our	internal	control	over	financial	reporting	(as	such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	under	the	Exchange	Act)	during	the	quarter	ended	December	31,	2020,	that	have	materially	affected,	or	are	reasonably	likely	to	materially	affect,	internal	control	over	financial	reporting.Item	9B:	Other	InformationNot	applicable.PART	IIIWe	refer	in	Part	III	of	this	report	to	relevant	sections	of	our	2021	Proxy	Statement	for	the	2021	annual	meeting	of	shareholders,	which	will	be	filed	with	the	SEC	pursuant	to	Regulation	14A	within	120	days	of	the	close	of	our	2020	fiscal	year.	Portions	of	our	2021	Proxy	Statement,	including	the	sections	we	refer	to	in	this	report,	are	incorporated	by	reference	into	this	report.Item	10:	Directors,	Executive	Officers	and	Corporate	GovernanceInformation	required	by	this	item	is	set	forth	under	the	captions	Election	of	Directors,	Corporate	Governance,	Our	Executive	Officers,	Board	Meetings	and	Committee	Information,	Report	of	the	Audit	Committee,	and	Section	16(a)	Beneficial	Ownership	Reporting	Compliance	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	11:	Executive	CompensationInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	12:	Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	MattersInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.2020	Form	10-K					175Listed	in	the	table	below	is	certain	operating	basis	financial	information	reconciled	to	Huntington’s	December	31,	2020,	December	31,	2019,	and	December	31,	2018,	reported	results	by	business	segment:Income	Statements(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntingtonConsolidated2020Net	interest	income$	1,436	$	903	$	430	$	160	$	295	$	3,224	Provision	(benefit)	for	credit	losses	265		626		146		11		—		1,048	Noninterest	income	945		364		9		201		72		1,591	Noninterest	expense	1,774		542		141		243		95		2,795	Provision	(benefit)	for	income	taxes	72		21		32		22		8		155	Net	income	(loss)$	270	$	78	$	120	$	85	$	264	$	817	2019Net	interest	income$	1,766	$	1,037	$	397	$	198	$	(185)	$	3,213	Provision	(benefit)	for	credit	losses	114		132		44		(3)		—		287	Noninterest	income	825		359		12		198		60		1,454	Noninterest	expense	1,673		564		148		256		80		2,721	Provision	(benefit)	for	income	taxes	169		147		45		30		(143)		248	Net	income	(loss)$	635	$	553	$	172	$	113	$	(62)	$	1,411	2018Net	interest	income$	1,727	$	1,013	$	392	$	203	$	(146)	$	3,189	Provision	(benefit)	for	credit	losses	137		42		55		1		—		235	Noninterest	income	744		321		11		193		52		1,321	Noninterest	expense	1,699		502		143		244		59		2,647	Provision	(benefit)	for	income	taxes	133		166		43		32		(139)		235	Net	income	(loss)$	502	$	624	$	162	$	119	$	(14)	$	1,393		Assets	atDecember	31,Deposits	atDecember	31,(dollar	amounts	in	millions)2020201920202019Consumer	&	Business	Banking$	30,758	$	25,073	$	60,910	$	51,675	Commercial	Banking	36,311		34,337		24,766		20,762	Vehicle	Finance	19,789		20,155		722		376	RBHPCG	7,064		6,665		7,635		6,370	Treasury	/	Other	29,116		22,772		4,915		3,164	Total$	123,038	$	109,002	$	98,948	$	82,347	174					Huntington	Bancshares	IncorporatedItem	9:	Changes	In	and	Disagreements	With	Accountants	on	Accounting	and	Financial	DisclosureNone.Item	9A:	Controls	and	ProceduresDisclosure	Controls	and	ProceduresHuntington	maintains	disclosure	controls	and	procedures	designed	to	ensure	that	the	information	required	to	be	disclosed	in	the	reports	that	it	files	or	submits	under	the	Securities	Exchange	Act	of	1934,	as	amended	(the	Exchange	Act),	are	recorded,	processed,	summarized,	and	reported	within	the	time	periods	specified	in	the	SEC’s	rules	and	forms.	Disclosure	controls	and	procedures	include,	without	limitation,	controls	and	procedures	designed	to	ensure	that	information	required	to	be	disclosed	by	an	issuer	in	the	reports	that	it	files	or	submits	under	the	Exchange	Act	is	accumulated	and	communicated	to	the	issuer’s	management,	including	its	principal	executive	and	principal	financial	officers,	or	persons	performing	similar	functions,	as	appropriate	to	allow	timely	decisions	regarding	required	disclosure.		Huntington’s	Management,	with	the	participation	of	its	Chief	Executive	Officer	and	the	Chief	Financial	Officer,	evaluated	the	effectiveness	of	Huntington’s	disclosure	controls	and	procedures	(as	such	term	is	defined	in	Rules	13a-15(e)	and	15d-15(e)	under	the	Exchange	Act)	as	of	December	31,	2020.		Based	upon	such	evaluation,	Huntington’s	Chief	Executive	Officer	and	Chief	Financial	Officer	have	concluded	that,	as	of	December	31,	2020,	Huntington’s	disclosure	controls	and	procedures	were	effective.Internal	Control	Over	Financial	ReportingInformation	required	by	this	item	is	set	forth	in	the	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	Reporting	and	the	Report	of	Independent	Registered	Public	Accounting	Firm.		Changes	in	Internal	Control	Over	Financial	ReportingThere	have	not	been	any	changes	in	our	internal	control	over	financial	reporting	(as	such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	under	the	Exchange	Act)	during	the	quarter	ended	December	31,	2020,	that	have	materially	affected,	or	are	reasonably	likely	to	materially	affect,	internal	control	over	financial	reporting.Item	9B:	Other	InformationNot	applicable.PART	IIIWe	refer	in	Part	III	of	this	report	to	relevant	sections	of	our	2021	Proxy	Statement	for	the	2021	annual	meeting	of	shareholders,	which	will	be	filed	with	the	SEC	pursuant	to	Regulation	14A	within	120	days	of	the	close	of	our	2020	fiscal	year.	Portions	of	our	2021	Proxy	Statement,	including	the	sections	we	refer	to	in	this	report,	are	incorporated	by	reference	into	this	report.Item	10:	Directors,	Executive	Officers	and	Corporate	GovernanceInformation	required	by	this	item	is	set	forth	under	the	captions	Election	of	Directors,	Corporate	Governance,	Our	Executive	Officers,	Board	Meetings	and	Committee	Information,	Report	of	the	Audit	Committee,	and	Section	16(a)	Beneficial	Ownership	Reporting	Compliance	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	11:	Executive	CompensationInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	12:	Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	MattersInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.2020	Form	10-K					175Listed	in	the	table	below	is	certain	operating	basis	financial	information	reconciled	to	Huntington’s	December	31,	2020,	December	31,	2019,	and	December	31,	2018,	reported	results	by	business	segment:Income	Statements(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntingtonConsolidated2020Net	interest	income$	1,436	$	903	$	430	$	160	$	295	$	3,224	Provision	(benefit)	for	credit	losses	265		626		146		11		—		1,048	Noninterest	income	945		364		9		201		72		1,591	Noninterest	expense	1,774		542		141		243		95		2,795	Provision	(benefit)	for	income	taxes	72		21		32		22		8		155	Net	income	(loss)$	270	$	78	$	120	$	85	$	264	$	817	2019Net	interest	income$	1,766	$	1,037	$	397	$	198	$	(185)	$	3,213	Provision	(benefit)	for	credit	losses	114		132		44		(3)		—		287	Noninterest	income	825		359		12		198		60		1,454	Noninterest	expense	1,673		564		148		256		80		2,721	Provision	(benefit)	for	income	taxes	169		147		45		30		(143)		248	Net	income	(loss)$	635	$	553	$	172	$	113	$	(62)	$	1,411	2018Net	interest	income$	1,727	$	1,013	$	392	$	203	$	(146)	$	3,189	Provision	(benefit)	for	credit	losses	137		42		55		1		—		235	Noninterest	income	744		321		11		193		52		1,321	Noninterest	expense	1,699		502		143		244		59		2,647	Provision	(benefit)	for	income	taxes	133		166		43		32		(139)		235	Net	income	(loss)$	502	$	624	$	162	$	119	$	(14)	$	1,393		Assets	atDecember	31,Deposits	atDecember	31,(dollar	amounts	in	millions)2020201920202019Consumer	&	Business	Banking$	30,758	$	25,073	$	60,910	$	51,675	Commercial	Banking	36,311		34,337		24,766		20,762	Vehicle	Finance	19,789		20,155		722		376	RBHPCG	7,064		6,665		7,635		6,370	Treasury	/	Other	29,116		22,772		4,915		3,164	Total$	123,038	$	109,002	$	98,948	$	82,347	174					Huntington	Bancshares	IncorporatedItem	9:	Changes	In	and	Disagreements	With	Accountants	on	Accounting	and	Financial	DisclosureNone.Item	9A:	Controls	and	ProceduresDisclosure	Controls	and	ProceduresHuntington	maintains	disclosure	controls	and	procedures	designed	to	ensure	that	the	information	required	to	be	disclosed	in	the	reports	that	it	files	or	submits	under	the	Securities	Exchange	Act	of	1934,	as	amended	(the	Exchange	Act),	are	recorded,	processed,	summarized,	and	reported	within	the	time	periods	specified	in	the	SEC’s	rules	and	forms.	Disclosure	controls	and	procedures	include,	without	limitation,	controls	and	procedures	designed	to	ensure	that	information	required	to	be	disclosed	by	an	issuer	in	the	reports	that	it	files	or	submits	under	the	Exchange	Act	is	accumulated	and	communicated	to	the	issuer’s	management,	including	its	principal	executive	and	principal	financial	officers,	or	persons	performing	similar	functions,	as	appropriate	to	allow	timely	decisions	regarding	required	disclosure.		Huntington’s	Management,	with	the	participation	of	its	Chief	Executive	Officer	and	the	Chief	Financial	Officer,	evaluated	the	effectiveness	of	Huntington’s	disclosure	controls	and	procedures	(as	such	term	is	defined	in	Rules	13a-15(e)	and	15d-15(e)	under	the	Exchange	Act)	as	of	December	31,	2020.		Based	upon	such	evaluation,	Huntington’s	Chief	Executive	Officer	and	Chief	Financial	Officer	have	concluded	that,	as	of	December	31,	2020,	Huntington’s	disclosure	controls	and	procedures	were	effective.Internal	Control	Over	Financial	ReportingInformation	required	by	this	item	is	set	forth	in	the	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	Reporting	and	the	Report	of	Independent	Registered	Public	Accounting	Firm.		Changes	in	Internal	Control	Over	Financial	ReportingThere	have	not	been	any	changes	in	our	internal	control	over	financial	reporting	(as	such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	under	the	Exchange	Act)	during	the	quarter	ended	December	31,	2020,	that	have	materially	affected,	or	are	reasonably	likely	to	materially	affect,	internal	control	over	financial	reporting.Item	9B:	Other	InformationNot	applicable.PART	IIIWe	refer	in	Part	III	of	this	report	to	relevant	sections	of	our	2021	Proxy	Statement	for	the	2021	annual	meeting	of	shareholders,	which	will	be	filed	with	the	SEC	pursuant	to	Regulation	14A	within	120	days	of	the	close	of	our	2020	fiscal	year.	Portions	of	our	2021	Proxy	Statement,	including	the	sections	we	refer	to	in	this	report,	are	incorporated	by	reference	into	this	report.Item	10:	Directors,	Executive	Officers	and	Corporate	GovernanceInformation	required	by	this	item	is	set	forth	under	the	captions	Election	of	Directors,	Corporate	Governance,	Our	Executive	Officers,	Board	Meetings	and	Committee	Information,	Report	of	the	Audit	Committee,	and	Section	16(a)	Beneficial	Ownership	Reporting	Compliance	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	11:	Executive	CompensationInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	12:	Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	MattersInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.2020	Form	10-K					175Listed	in	the	table	below	is	certain	operating	basis	financial	information	reconciled	to	Huntington’s	December	31,	2020,	December	31,	2019,	and	December	31,	2018,	reported	results	by	business	segment:Income	Statements(dollar	amounts	in	millions)Consumer	&	Business	BankingCommercial	BankingVehicle	FinanceRBHPCGTreasury	/	OtherHuntingtonConsolidated2020Net	interest	income$	1,436	$	903	$	430	$	160	$	295	$	3,224	Provision	(benefit)	for	credit	losses	265		626		146		11		—		1,048	Noninterest	income	945		364		9		201		72		1,591	Noninterest	expense	1,774		542		141		243		95		2,795	Provision	(benefit)	for	income	taxes	72		21		32		22		8		155	Net	income	(loss)$	270	$	78	$	120	$	85	$	264	$	817	2019Net	interest	income$	1,766	$	1,037	$	397	$	198	$	(185)	$	3,213	Provision	(benefit)	for	credit	losses	114		132		44		(3)		—		287	Noninterest	income	825		359		12		198		60		1,454	Noninterest	expense	1,673		564		148		256		80		2,721	Provision	(benefit)	for	income	taxes	169		147		45		30		(143)		248	Net	income	(loss)$	635	$	553	$	172	$	113	$	(62)	$	1,411	2018Net	interest	income$	1,727	$	1,013	$	392	$	203	$	(146)	$	3,189	Provision	(benefit)	for	credit	losses	137		42		55		1		—		235	Noninterest	income	744		321		11		193		52		1,321	Noninterest	expense	1,699		502		143		244		59		2,647	Provision	(benefit)	for	income	taxes	133		166		43		32		(139)		235	Net	income	(loss)$	502	$	624	$	162	$	119	$	(14)	$	1,393		Assets	atDecember	31,Deposits	atDecember	31,(dollar	amounts	in	millions)2020201920202019Consumer	&	Business	Banking$	30,758	$	25,073	$	60,910	$	51,675	Commercial	Banking	36,311		34,337		24,766		20,762	Vehicle	Finance	19,789		20,155		722		376	RBHPCG	7,064		6,665		7,635		6,370	Treasury	/	Other	29,116		22,772		4,915		3,164	Total$	123,038	$	109,002	$	98,948	$	82,347	174					Huntington	Bancshares	IncorporatedItem	9:	Changes	In	and	Disagreements	With	Accountants	on	Accounting	and	Financial	DisclosureNone.Item	9A:	Controls	and	ProceduresDisclosure	Controls	and	ProceduresHuntington	maintains	disclosure	controls	and	procedures	designed	to	ensure	that	the	information	required	to	be	disclosed	in	the	reports	that	it	files	or	submits	under	the	Securities	Exchange	Act	of	1934,	as	amended	(the	Exchange	Act),	are	recorded,	processed,	summarized,	and	reported	within	the	time	periods	specified	in	the	SEC’s	rules	and	forms.	Disclosure	controls	and	procedures	include,	without	limitation,	controls	and	procedures	designed	to	ensure	that	information	required	to	be	disclosed	by	an	issuer	in	the	reports	that	it	files	or	submits	under	the	Exchange	Act	is	accumulated	and	communicated	to	the	issuer’s	management,	including	its	principal	executive	and	principal	financial	officers,	or	persons	performing	similar	functions,	as	appropriate	to	allow	timely	decisions	regarding	required	disclosure.		Huntington’s	Management,	with	the	participation	of	its	Chief	Executive	Officer	and	the	Chief	Financial	Officer,	evaluated	the	effectiveness	of	Huntington’s	disclosure	controls	and	procedures	(as	such	term	is	defined	in	Rules	13a-15(e)	and	15d-15(e)	under	the	Exchange	Act)	as	of	December	31,	2020.		Based	upon	such	evaluation,	Huntington’s	Chief	Executive	Officer	and	Chief	Financial	Officer	have	concluded	that,	as	of	December	31,	2020,	Huntington’s	disclosure	controls	and	procedures	were	effective.Internal	Control	Over	Financial	ReportingInformation	required	by	this	item	is	set	forth	in	the	Report	of	Management’s	Assessment	of	Internal	Control	over	Financial	Reporting	and	the	Report	of	Independent	Registered	Public	Accounting	Firm.		Changes	in	Internal	Control	Over	Financial	ReportingThere	have	not	been	any	changes	in	our	internal	control	over	financial	reporting	(as	such	term	is	defined	in	Rules	13a-15(f)	and	15d-15(f)	under	the	Exchange	Act)	during	the	quarter	ended	December	31,	2020,	that	have	materially	affected,	or	are	reasonably	likely	to	materially	affect,	internal	control	over	financial	reporting.Item	9B:	Other	InformationNot	applicable.PART	IIIWe	refer	in	Part	III	of	this	report	to	relevant	sections	of	our	2021	Proxy	Statement	for	the	2021	annual	meeting	of	shareholders,	which	will	be	filed	with	the	SEC	pursuant	to	Regulation	14A	within	120	days	of	the	close	of	our	2020	fiscal	year.	Portions	of	our	2021	Proxy	Statement,	including	the	sections	we	refer	to	in	this	report,	are	incorporated	by	reference	into	this	report.Item	10:	Directors,	Executive	Officers	and	Corporate	GovernanceInformation	required	by	this	item	is	set	forth	under	the	captions	Election	of	Directors,	Corporate	Governance,	Our	Executive	Officers,	Board	Meetings	and	Committee	Information,	Report	of	the	Audit	Committee,	and	Section	16(a)	Beneficial	Ownership	Reporting	Compliance	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	11:	Executive	CompensationInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.Item	12:	Security	Ownership	of	Certain	Beneficial	Owners	and	Management	and	Related	Stockholder	MattersInformation	required	by	this	item	is	set	forth	under	the	captions	Compensation	of	Executive	Officers	of	our	2021	Proxy	Statement,	which	is	incorporated	by	reference	into	this	item.2020	Form	10-K					175Item	13:	Certain	Relationships	and	Related	Transactions,	and	Director	Independence
Item	13:	Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Exhibit	Index	

Exhibit	Index	

Information	required	by	this	item	is	set	forth	under	the	captions	Independence	of	Directors	and	Review,	
Information	required	by	this	item	is	set	forth	under	the	captions	Independence	of	Directors	and	Review,	

Approval	or	Ratification	of	Transactions	with	Related	Persons	of	our	2021	Proxy	Statement,	which	are	incorporated	
Approval	or	Ratification	of	Transactions	with	Related	Persons	of	our	2021	Proxy	Statement,	which	are	incorporated	
by	reference	into	this	item.
by	reference	into	this	item.

Item	14:	Principal	Accounting	Fees	and	Services
Item	14:	Principal	Accounting	Fees	and	Services

Information	required	by	this	item	is	set	forth	under	the	caption	Proposal	to	Ratify	the	Appointment	of	
Information	required	by	this	item	is	set	forth	under	the	caption	Proposal	to	Ratify	the	Appointment	of	

Independent	Registered	Public	Accounting	Firm	of	our	2021	Proxy	Statement	which	is	incorporated	by	reference	into	
Independent	Registered	Public	Accounting	Firm	of	our	2021	Proxy	Statement	which	is	incorporated	by	reference	into	
this	item.
this	item.

PART	IV
PART	IV

Item	15:	Exhibits	and	Financial	Statement	Schedules
Item	15:	Exhibits	and	Financial	Statement	Schedules

Financial	Statements	and	Financial	Statement	Schedules
Financial	Statements	and	Financial	Statement	Schedules

Our	consolidated	financial	statements	required	in	response	to	this	Item	are	incorporated	by	reference	from	Item	
Our	consolidated	financial	statements	required	in	response	to	this	Item	are	incorporated	by	reference	from	Item	

8	of	this	Report.
8	of	this	Report.

Exhibits
Exhibits

Our	exhibits	listed	on	the	Exhibit	Index	of	this	Form	10-K	are	filed	with	this	Report	or	are	incorporated	herein	by	
Our	exhibits	listed	on	the	Exhibit	Index	of	this	Form	10-K	are	filed	with	this	Report	or	are	incorporated	herein	by	

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

reference.		
reference.		

Item	16:	10-K	Summary
Item	16:	10-K	Summary

Not	applicable.
Not	applicable.

This	report	incorporates	by	reference	the	documents	listed	below	that	we	have	previously	filed	with	the	SEC.		The	

This	report	incorporates	by	reference	the	documents	listed	below	that	we	have	previously	filed	with	the	SEC.		The	

SEC	allows	us	to	incorporate	by	reference	information	in	this	document.		The	information	incorporated	by	reference	

SEC	allows	us	to	incorporate	by	reference	information	in	this	document.		The	information	incorporated	by	reference	

is	considered	to	be	a	part	of	this	document,	except	for	any	information	that	is	superseded	by	information	that	is	

is	considered	to	be	a	part	of	this	document,	except	for	any	information	that	is	superseded	by	information	that	is	

included	directly	in	this	document.

included	directly	in	this	document.

The	SEC	maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	

The	SEC	maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	

issuers,	like	us,	who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	

issuers,	like	us,	who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	

other	information	filed	by	us	with	the	SEC	are	also	available	free	of	charge	at	our	Internet	web	site.		The	address	of	

other	information	filed	by	us	with	the	SEC	are	also	available	free	of	charge	at	our	Internet	web	site.		The	address	of	

the	site	is	http://www.huntington.com.		Except	as	specifically	incorporated	by	reference	into	this	Annual	Report	on	

the	site	is	http://www.huntington.com.		Except	as	specifically	incorporated	by	reference	into	this	Annual	Report	on	

Form	10-K,	information	on	those	web	sites	is	not	part	of	this	report.		You	also	should	be	able	to	inspect	reports,	

Form	10-K,	information	on	those	web	sites	is	not	part	of	this	report.		You	also	should	be	able	to	inspect	reports,	

proxy	statements,	and	other	information	about	us	at	the	offices	of	the	Nasdaq	National	Market	at	33	Whitehall	

proxy	statements,	and	other	information	about	us	at	the	offices	of	the	Nasdaq	National	Market	at	33	Whitehall	

Street,	New	York,	New	York	10004.

Street,	New	York,	New	York	10004.

Exhibit

Exhibit

Number

Number

2.1

2.1

Agreement	and	Plan	of	Merger,	dated	as	of	December	13,	2020,	by	and	

Agreement	and	Plan	of	Merger,	dated	as	of	December	13,	2020,	by	and	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

between	Huntington	Bancshares	Incorporated	and	TCF	Financial	

between	Huntington	Bancshares	Incorporated	and	TCF	Financial	

December	17,	2020.

December	17,	2020.

Document	Description

Document	Description

Report	or	Registration	Statement

Report	or	Registration	Statement

SEC	File	or

SEC	File	or

Registration

Registration

Number

Number

001-34073

001-34073

Exhibit

Exhibit

Reference

Reference

Corporation

Corporation

January	18,	2019.

January	18,	2019.

January	18,	2019.

January	18,	2019.

on	January	16,	2019.

on	January	16,	2019.

February	5,	2021.

February	5,	2021.

August	5,	2020.	

August	5,	2020.	

28,	2020.	

28,	2020.	

3.1

3.1

3.2

3.2

3.3

3.3

3.4

3.4

3.5

3.5

3.6

3.6

4.1

4.1

Articles	of	Restatement	of	Huntington	Bancshares	Incorporated,	as	of	

Articles	of	Restatement	of	Huntington	Bancshares	Incorporated,	as	of	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

Bylaws	of	Huntington	Bancshares	Incorporated,	as	amended	and	restated	

Bylaws	of	Huntington	Bancshares	Incorporated,	as	amended	and	restated	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	May	

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	May	

Current	Report	on	Form	8-K	dated	May	

Current	Report	on	Form	8-K	dated	May	

001-34073

001-34073

January	16,	2019.

January	16,	2019.

January	16,	2019.

January	16,	2019.

January	16,	2019.

January	16,	2019.

February	5,	2021

February	5,	2021

August	5,	2020.

August	5,	2020.

28,	2020.

28,	2020.

Instruments	defining	the	Rights	of	Security	Holders	—	reference	is	made	to	

Instruments	defining	the	Rights	of	Security	Holders	—	reference	is	made	to	

Articles	Fifth,	Eighth,	and	Tenth	of	Articles	of	Restatement	of	Charter,	as	

Articles	Fifth,	Eighth,	and	Tenth	of	Articles	of	Restatement	of	Charter,	as	

amended	and	supplemented.	Instruments	defining	the	rights	of	holders	of	

amended	and	supplemented.	Instruments	defining	the	rights	of	holders	of	

long-term	debt	will	be	furnished	to	the	Securities	and	Exchange	

long-term	debt	will	be	furnished	to	the	Securities	and	Exchange	

Commission	upon	request.

Commission	upon	request.

4.2

4.2

Description	of	Securities

Description	of	Securities

10.1

10.1

*	Form	of	Executive	Agreement	for	certain	executive	officers.

*	Form	of	Executive	Agreement	for	certain	executive	officers.

Current	Report	on	Form	8-K,	dated	

Current	Report	on	Form	8-K,	dated	

001-34073

001-34073

10.3

10.3

November	28,	2012.

November	28,	2012.

10.2

10.2

*	Management	Incentive	Plan	for	Covered	Officers	as	amended	and	

*	Management	Incentive	Plan	for	Covered	Officers	as	amended	and	

restated	effective	for	plan	years	beginning	on	or	after	January	1,	2016.

restated	effective	for	plan	years	beginning	on	or	after	January	1,	2016.

Definitive	Proxy	Statement	for	the	2016	

Definitive	Proxy	Statement	for	the	2016	

001-34073

001-34073

Annual	Meeting	of	Shareholders.

Annual	Meeting	of	Shareholders.

10.3

10.3

*	Huntington	Supplemental	Retirement	Income	Plan,	amended	and	

*	Huntington	Supplemental	Retirement	Income	Plan,	amended	and	

Annual	Report	on	Form	10-K	for	the	year	

Annual	Report	on	Form	10-K	for	the	year	

001-34073

001-34073

restated,	effective	December	31,	2013.

restated,	effective	December	31,	2013.

ended	December	31,	2013.

ended	December	31,	2013.

10.4(P)

10.4(P)

*	Deferred	Compensation	Plan	and	Trust	for	Directors

*	Deferred	Compensation	Plan	and	Trust	for	Directors

Post-Effective	Amendment	No.	2	to	

Post-Effective	Amendment	No.	2	to	

Registration	Statement	on	Form	S-8	filed	

Registration	Statement	on	Form	S-8	filed	

33-10546

33-10546

on	January	28,	1991.

on	January	28,	1991.

10.7

10.7

*	Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	

*	Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	

Annual	Report	on	Form	10-K	for	the	year	

Annual	Report	on	Form	10-K	for	the	year	

001-34073

001-34073

January	1,	2012.

January	1,	2012.

ended	December	31,	2012.

ended	December	31,	2012.

10.8

10.8

*	The	Huntington	Supplemental	Stock	Purchase	and	Tax	Savings	Plan	and	

*	The	Huntington	Supplemental	Stock	Purchase	and	Tax	Savings	Plan	and	

Annual	Report	on	Form	10-K	for	the	year	

Annual	Report	on	Form	10-K	for	the	year	

001-34073

001-34073

Trust,	amended	and	restated,	effective	January	1,	2014.

Trust,	amended	and	restated,	effective	January	1,	2014.

ended	December	31,	2013.

ended	December	31,	2013.

10.9

10.9

10.10

10.10

*	Form	of	Employment	Agreement	between	Stephen	D.	Steinour	and	

*	Form	of	Employment	Agreement	between	Stephen	D.	Steinour	and	

Huntington	Bancshares	Incorporated	effective	December	1,	2012.

Huntington	Bancshares	Incorporated	effective	December	1,	2012.

*	Form	of	Executive	Agreement	between	Stephen	D.	Steinour	and	

*	Form	of	Executive	Agreement	between	Stephen	D.	Steinour	and	

Huntington	Bancshares	Incorporated	effective	December	1,	2012.

Huntington	Bancshares	Incorporated	effective	December	1,	2012.

November	28,	2012.

November	28,	2012.

November	28,	2012.

November	28,	2012.

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

001-34073

001-34073

10.11

10.11

*	Restricted	Stock	Unit	Grant	Notice	with	three	year	vesting.

*	Restricted	Stock	Unit	Grant	Notice	with	three	year	vesting.

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

000-02525

000-02525

10.12

10.12

*	Restricted	Stock	Unit	Grant	Notice	with	six	month	vesting.

*	Restricted	Stock	Unit	Grant	Notice	with	six	month	vesting.

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

000-02525

000-02525

10.13

10.13

*	Restricted	Stock	Unit	Deferral	Agreement.

*	Restricted	Stock	Unit	Deferral	Agreement.

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

000-02525

000-02525

10.14

10.14

*	Director	Deferred	Stock	Award	Notice.

*	Director	Deferred	Stock	Award	Notice.

Current	Report	on	Form	8-K	dated	

Current	Report	on	Form	8-K	dated	

000-02525

000-02525

July	24,	2006.

July	24,	2006.

July	24,	2006.

July	24,	2006.

July	24,	2006.

July	24,	2006.

July	24,	2006.

July	24,	2006.

2.1

2.1

3.1

3.1

3.2

3.2

3.3

3.3

3.1

3.1

3.1

3.1

3.1

3.1

A

A

10.3

10.3

4(a)

4(a)

10.8

10.8

10.8

10.8

10.1

10.1

10.2

10.2

99.1

99.1

99.2

99.2

99.3

99.3

99.4

99.4

176					Huntington	Bancshares	Incorporated
176					Huntington	Bancshares	Incorporated

2020	Form	10-K					177

2020	Form	10-K					177

	
	
Item	15:	Exhibits	and	Financial	Statement	Schedules

Item	15:	Exhibits	and	Financial	Statement	Schedules

Financial	Statements	and	Financial	Statement	Schedules

Financial	Statements	and	Financial	Statement	Schedules

this	item.

this	item.

PART	IV

PART	IV

8	of	this	Report.

8	of	this	Report.

Exhibits

Exhibits

reference.		

reference.		

Item	16:	10-K	Summary

Item	16:	10-K	Summary

Not	applicable.

Not	applicable.

Our	exhibits	listed	on	the	Exhibit	Index	of	this	Form	10-K	are	filed	with	this	Report	or	are	incorporated	herein	by	

Our	exhibits	listed	on	the	Exhibit	Index	of	this	Form	10-K	are	filed	with	this	Report	or	are	incorporated	herein	by	

Item	13:	Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Item	13:	Certain	Relationships	and	Related	Transactions,	and	Director	Independence

Exhibit	Index	
Exhibit	Index	

Information	required	by	this	item	is	set	forth	under	the	captions	Independence	of	Directors	and	Review,	

Information	required	by	this	item	is	set	forth	under	the	captions	Independence	of	Directors	and	Review,	

Approval	or	Ratification	of	Transactions	with	Related	Persons	of	our	2021	Proxy	Statement,	which	are	incorporated	

Approval	or	Ratification	of	Transactions	with	Related	Persons	of	our	2021	Proxy	Statement,	which	are	incorporated	

by	reference	into	this	item.

by	reference	into	this	item.

Item	14:	Principal	Accounting	Fees	and	Services

Item	14:	Principal	Accounting	Fees	and	Services

Information	required	by	this	item	is	set	forth	under	the	caption	Proposal	to	Ratify	the	Appointment	of	

Information	required	by	this	item	is	set	forth	under	the	caption	Proposal	to	Ratify	the	Appointment	of	

Independent	Registered	Public	Accounting	Firm	of	our	2021	Proxy	Statement	which	is	incorporated	by	reference	into	

Independent	Registered	Public	Accounting	Firm	of	our	2021	Proxy	Statement	which	is	incorporated	by	reference	into	

This	report	incorporates	by	reference	the	documents	listed	below	that	we	have	previously	filed	with	the	SEC.		The	
This	report	incorporates	by	reference	the	documents	listed	below	that	we	have	previously	filed	with	the	SEC.		The	
SEC	allows	us	to	incorporate	by	reference	information	in	this	document.		The	information	incorporated	by	reference	
SEC	allows	us	to	incorporate	by	reference	information	in	this	document.		The	information	incorporated	by	reference	
is	considered	to	be	a	part	of	this	document,	except	for	any	information	that	is	superseded	by	information	that	is	
is	considered	to	be	a	part	of	this	document,	except	for	any	information	that	is	superseded	by	information	that	is	
included	directly	in	this	document.
included	directly	in	this	document.

The	SEC	maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	
The	SEC	maintains	an	Internet	web	site	that	contains	reports,	proxy	statements,	and	other	information	about	
issuers,	like	us,	who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	
issuers,	like	us,	who	file	electronically	with	the	SEC.		The	address	of	the	site	is	http://www.sec.gov.		The	reports	and	
other	information	filed	by	us	with	the	SEC	are	also	available	free	of	charge	at	our	Internet	web	site.		The	address	of	
other	information	filed	by	us	with	the	SEC	are	also	available	free	of	charge	at	our	Internet	web	site.		The	address	of	
the	site	is	http://www.huntington.com.		Except	as	specifically	incorporated	by	reference	into	this	Annual	Report	on	
the	site	is	http://www.huntington.com.		Except	as	specifically	incorporated	by	reference	into	this	Annual	Report	on	
Form	10-K,	information	on	those	web	sites	is	not	part	of	this	report.		You	also	should	be	able	to	inspect	reports,	
Form	10-K,	information	on	those	web	sites	is	not	part	of	this	report.		You	also	should	be	able	to	inspect	reports,	
proxy	statements,	and	other	information	about	us	at	the	offices	of	the	Nasdaq	National	Market	at	33	Whitehall	
proxy	statements,	and	other	information	about	us	at	the	offices	of	the	Nasdaq	National	Market	at	33	Whitehall	
Street,	New	York,	New	York	10004.
Street,	New	York,	New	York	10004.

Our	consolidated	financial	statements	required	in	response	to	this	Item	are	incorporated	by	reference	from	Item	

Our	consolidated	financial	statements	required	in	response	to	this	Item	are	incorporated	by	reference	from	Item	

Exhibit
Exhibit
Number
Number

Document	Description
Document	Description

2.1
2.1

3.1
3.1

3.2
3.2

3.3
3.3

3.4
3.4

3.5
3.5

3.6
3.6

4.1
4.1

Agreement	and	Plan	of	Merger,	dated	as	of	December	13,	2020,	by	and	
Agreement	and	Plan	of	Merger,	dated	as	of	December	13,	2020,	by	and	
between	Huntington	Bancshares	Incorporated	and	TCF	Financial	
between	Huntington	Bancshares	Incorporated	and	TCF	Financial	
Corporation
Corporation

Report	or	Registration	Statement
Report	or	Registration	Statement

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
December	17,	2020.
December	17,	2020.

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
January	18,	2019.
January	18,	2019.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
January	16,	2019.
January	16,	2019.

Articles	of	Restatement	of	Huntington	Bancshares	Incorporated,	as	of	
Articles	of	Restatement	of	Huntington	Bancshares	Incorporated,	as	of	
January	18,	2019.
January	18,	2019.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
January	16,	2019.
January	16,	2019.

Bylaws	of	Huntington	Bancshares	Incorporated,	as	amended	and	restated	
Bylaws	of	Huntington	Bancshares	Incorporated,	as	amended	and	restated	
on	January	16,	2019.
on	January	16,	2019.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
January	16,	2019.
January	16,	2019.

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
February	5,	2021.
February	5,	2021.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
February	5,	2021
February	5,	2021

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	
August	5,	2020.	
August	5,	2020.	

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
August	5,	2020.
August	5,	2020.

Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	May	
Articles	Supplementary	of	Huntington	Bancshares	Incorporated,	as	of	May	
28,	2020.	
28,	2020.	

Current	Report	on	Form	8-K	dated	May	
Current	Report	on	Form	8-K	dated	May	
28,	2020.
28,	2020.

Instruments	defining	the	Rights	of	Security	Holders	—	reference	is	made	to	
Instruments	defining	the	Rights	of	Security	Holders	—	reference	is	made	to	
Articles	Fifth,	Eighth,	and	Tenth	of	Articles	of	Restatement	of	Charter,	as	
Articles	Fifth,	Eighth,	and	Tenth	of	Articles	of	Restatement	of	Charter,	as	
amended	and	supplemented.	Instruments	defining	the	rights	of	holders	of	
amended	and	supplemented.	Instruments	defining	the	rights	of	holders	of	
long-term	debt	will	be	furnished	to	the	Securities	and	Exchange	
long-term	debt	will	be	furnished	to	the	Securities	and	Exchange	
Commission	upon	request.
Commission	upon	request.

SEC	File	or
SEC	File	or
Registration
Registration
Number
Number

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

Exhibit
Exhibit
Reference
Reference

2.1
2.1

3.1
3.1

3.2
3.2

3.3
3.3

3.1
3.1

3.1
3.1

3.1
3.1

4.2
4.2

Description	of	Securities
Description	of	Securities

10.1
10.1

*	Form	of	Executive	Agreement	for	certain	executive	officers.
*	Form	of	Executive	Agreement	for	certain	executive	officers.

Current	Report	on	Form	8-K,	dated	
Current	Report	on	Form	8-K,	dated	
November	28,	2012.
November	28,	2012.

001-34073
001-34073

10.3
10.3

10.2
10.2

10.3
10.3

*	Management	Incentive	Plan	for	Covered	Officers	as	amended	and	
*	Management	Incentive	Plan	for	Covered	Officers	as	amended	and	
restated	effective	for	plan	years	beginning	on	or	after	January	1,	2016.
restated	effective	for	plan	years	beginning	on	or	after	January	1,	2016.

Definitive	Proxy	Statement	for	the	2016	
Definitive	Proxy	Statement	for	the	2016	
Annual	Meeting	of	Shareholders.
Annual	Meeting	of	Shareholders.

*	Huntington	Supplemental	Retirement	Income	Plan,	amended	and	
*	Huntington	Supplemental	Retirement	Income	Plan,	amended	and	
restated,	effective	December	31,	2013.
restated,	effective	December	31,	2013.

Annual	Report	on	Form	10-K	for	the	year	
Annual	Report	on	Form	10-K	for	the	year	
ended	December	31,	2013.
ended	December	31,	2013.

10.4(P)
10.4(P)

*	Deferred	Compensation	Plan	and	Trust	for	Directors
*	Deferred	Compensation	Plan	and	Trust	for	Directors

Post-Effective	Amendment	No.	2	to	
Post-Effective	Amendment	No.	2	to	
Registration	Statement	on	Form	S-8	filed	
Registration	Statement	on	Form	S-8	filed	
on	January	28,	1991.
on	January	28,	1991.

10.7
10.7

10.8
10.8

10.9
10.9

*	Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	
*	Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	
January	1,	2012.
January	1,	2012.

Annual	Report	on	Form	10-K	for	the	year	
Annual	Report	on	Form	10-K	for	the	year	
ended	December	31,	2012.
ended	December	31,	2012.

*	The	Huntington	Supplemental	Stock	Purchase	and	Tax	Savings	Plan	and	
*	The	Huntington	Supplemental	Stock	Purchase	and	Tax	Savings	Plan	and	
Trust,	amended	and	restated,	effective	January	1,	2014.
Trust,	amended	and	restated,	effective	January	1,	2014.

Annual	Report	on	Form	10-K	for	the	year	
Annual	Report	on	Form	10-K	for	the	year	
ended	December	31,	2013.
ended	December	31,	2013.

*	Form	of	Employment	Agreement	between	Stephen	D.	Steinour	and	
*	Form	of	Employment	Agreement	between	Stephen	D.	Steinour	and	
Huntington	Bancshares	Incorporated	effective	December	1,	2012.
Huntington	Bancshares	Incorporated	effective	December	1,	2012.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
November	28,	2012.
November	28,	2012.

10.10
10.10

*	Form	of	Executive	Agreement	between	Stephen	D.	Steinour	and	
*	Form	of	Executive	Agreement	between	Stephen	D.	Steinour	and	
Huntington	Bancshares	Incorporated	effective	December	1,	2012.
Huntington	Bancshares	Incorporated	effective	December	1,	2012.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
November	28,	2012.
November	28,	2012.

10.11
10.11

*	Restricted	Stock	Unit	Grant	Notice	with	three	year	vesting.
*	Restricted	Stock	Unit	Grant	Notice	with	three	year	vesting.

10.12
10.12

*	Restricted	Stock	Unit	Grant	Notice	with	six	month	vesting.
*	Restricted	Stock	Unit	Grant	Notice	with	six	month	vesting.

10.13
10.13

*	Restricted	Stock	Unit	Deferral	Agreement.
*	Restricted	Stock	Unit	Deferral	Agreement.

10.14
10.14

*	Director	Deferred	Stock	Award	Notice.
*	Director	Deferred	Stock	Award	Notice.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
July	24,	2006.
July	24,	2006.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
July	24,	2006.
July	24,	2006.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
July	24,	2006.
July	24,	2006.

Current	Report	on	Form	8-K	dated	
Current	Report	on	Form	8-K	dated	
July	24,	2006.
July	24,	2006.

001-34073
001-34073

001-34073
001-34073

33-10546
33-10546

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

000-02525
000-02525

000-02525
000-02525

000-02525
000-02525

000-02525
000-02525

A
A

10.3
10.3

4(a)
4(a)

10.8
10.8

10.8
10.8

10.1
10.1

10.2
10.2

99.1
99.1

99.2
99.2

99.3
99.3

99.4
99.4

2020	Form	10-K					177
2020	Form	10-K					177

176					Huntington	Bancshares	Incorporated

176					Huntington	Bancshares	Incorporated

	
	
000-02525
000-02525

G
G

23.1

23.1

Consent	of	PricewaterhouseCoopers	LLP,	Independent	Registered	Public	

Consent	of	PricewaterhouseCoopers	LLP,	Independent	Registered	Public	

Accounting	Firm.

Accounting	Firm.

Power	of	Attorney

Power	of	Attorney

Rule	13a-14(a)	Certification	–	Chief	Executive	Officer.

Rule	13a-14(a)	Certification	–	Chief	Executive	Officer.

Rule	13a-14(a)	Certification	–	Chief	Financial	Officer.

Rule	13a-14(a)	Certification	–	Chief	Financial	Officer.

Section	1350	Certification	–	Chief	Executive	Officer.

Section	1350	Certification	–	Chief	Executive	Officer.

Section	1350	Certification	–	Chief	Financial	Officer.

Section	1350	Certification	–	Chief	Financial	Officer.

24.1

24.1

31.1

31.1

31.2

31.2

32.1

32.1

32.2

32.2

101

101

The	following	material	from	Huntington’s	Form	10-K	Report	for	the	year	

The	following	material	from	Huntington’s	Form	10-K	Report	for	the	year	

ended	December	31,	2020,	formatted	in	Inline	XBRL:	(1)	Consolidated	

ended	December	31,	2020,	formatted	in	Inline	XBRL:	(1)	Consolidated	

Balance	Sheets,	(2)	Consolidated	Statements	of	Income,	(3),	Consolidated	

Balance	Sheets,	(2)	Consolidated	Statements	of	Income,	(3),	Consolidated	

Statements	of	Comprehensive	Income,	(4)	Consolidated	Statements	of	

Statements	of	Comprehensive	Income,	(4)	Consolidated	Statements	of	

Changes	in	Shareholders’	Equity,	(5)	Consolidated	Statements	of	Cash	

Changes	in	Shareholders’	Equity,	(5)	Consolidated	Statements	of	Cash	

Flows,	and	(6)	the	Notes	to	the	Consolidated	Financial	Statements.

Flows,	and	(6)	the	Notes	to	the	Consolidated	Financial	Statements.

104

104

Cover	Page	Interactive	Data	File	-	the	cover	page	XBRL	tags	are	embedded	

Cover	Page	Interactive	Data	File	-	the	cover	page	XBRL	tags	are	embedded	

within	the	Inline	XBRL	document.

within	the	Inline	XBRL	document.

*	Denotes	management	contract	or	compensatory	plan	or	arrangement.

*	Denotes	management	contract	or	compensatory	plan	or	arrangement.

000-02525
000-02525

10.7
10.7

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

A
A

10.2
10.2

10.1
10.1

10.2
10.2

10.3
10.3

10.4
10.4

10.5
10.5

10.6
10.6

A
A

A
A

10.2
10.2

10.3
10.3

10.4
10.4

10.1
10.1

001-34073
001-34073

10.32
10.32

10.15
10.15

*	Huntington	Bancshares	Incorporated	2007	Stock	and	Long-Term	
*	Huntington	Bancshares	Incorporated	2007	Stock	and	Long-Term	
Incentive	Plan.
Incentive	Plan.

Definitive	Proxy	Statement	for	the	2007	
Definitive	Proxy	Statement	for	the	2007	
Annual	Meeting	of	Stockholders.
Annual	Meeting	of	Stockholders.

10.16
10.16

*	First	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.
*	First	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

10.17
10.17

*	Second	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.
*	Second	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	September	30,	2007.
quarter	ended	September	30,	2007.

Definitive	Proxy	Statement	for	the	2010	
Definitive	Proxy	Statement	for	the	2010	
Annual	Meeting	of	Shareholders.
Annual	Meeting	of	Shareholders.

10.18
10.18

10.19
10.19

*	Form	of	Consolidated	2012	Stock	Grant	Agreement	for	Executive	Officers	
*	Form	of	Consolidated	2012	Stock	Grant	Agreement	for	Executive	Officers	
Pursuant	to	Huntington’s	2012	Long-Term	Incentive	Plan.
Pursuant	to	Huntington’s	2012	Long-Term	Incentive	Plan.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2012.
quarter	ended	June	30,	2012.

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	
*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	
Officers.
Officers.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

10.20
10.20

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers.
*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

*	Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	
*	Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	
Officers.
Officers.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	
*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	
Officers	Version	II.
Officers	Version	II.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers	
*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers	
Version	II.
Version	II.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

*Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	
*Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	
Officers	Version	II.
Officers	Version	II.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2014.
quarter	ended	June	30,	2014.

*Huntington	Bancshares	Incorporated	2012	Long-Term	Incentive	Plan.
*Huntington	Bancshares	Incorporated	2012	Long-Term	Incentive	Plan.

*Huntington	Bancshares	Incorporated	2015	Long-Term	Incentive	Plan.	
*Huntington	Bancshares	Incorporated	2015	Long-Term	Incentive	Plan.	

10.27
10.27

*Form	of	2015	Stock	Option	Grant	Agreement.
*Form	of	2015	Stock	Option	Grant	Agreement.

10.28
10.28

*Form	of	2015	Restricted	Stock	Unit	Grant	Agreement.
*Form	of	2015	Restricted	Stock	Unit	Grant	Agreement.

10.29
10.29

*Form	of	2015	Performance	Share	Unit	Grant	Agreement.
*Form	of	2015	Performance	Share	Unit	Grant	Agreement.

*Huntington	Bancshares	Incorporated	Restricted	Stock	Unit	Grant	
*Huntington	Bancshares	Incorporated	Restricted	Stock	Unit	Grant	
Agreement.
Agreement.

*	Deferred	Compensation	Plan	and	Trust	for	Directors
*	Deferred	Compensation	Plan	and	Trust	for	Directors

10.33
10.33

*	First	Amendment	to	the	2015	Long-Term	Incentive	Plan
*	First	Amendment	to	the	2015	Long-Term	Incentive	Plan

10.34
10.34

*Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan.
*Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan.

10.35
10.35

*Form	of	2018	Stock	Option	Grant	Agreement.
*Form	of	2018	Stock	Option	Grant	Agreement.

10.36
10.36

*Form	of	2018	Restricted	Stock	Unit	Agreement.
*Form	of	2018	Restricted	Stock	Unit	Agreement.

10.37
10.37

*Form	of	2018	Performance	Share	Unit	Grant	Agreement.
*Form	of	2018	Performance	Share	Unit	Grant	Agreement.

*Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	
*Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	
April	18,	2018.
April	18,	2018.

*Huntington	Supplemental	401(k)	Plan	(f/k/a	Huntington	Supplemental	
*Huntington	Supplemental	401(k)	Plan	(f/k/a	Huntington	Supplemental	
Stock	Purchase	and	Savings	Plan	and	Trust),	as	amended	and	restated	
Stock	Purchase	and	Savings	Plan	and	Trust),	as	amended	and	restated	
effective	January	1,	2019.
effective	January	1,	2019.

Transition	Agreement	dated	May	13,	2019,	by	and	between	The	
Transition	Agreement	dated	May	13,	2019,	by	and	between	The	
Huntington	National	Bank	and	Howell	D.	McCullough	
Huntington	National	Bank	and	Howell	D.	McCullough	

Definitive	Proxy	Statement	for	the	2012	
Definitive	Proxy	Statement	for	the	2012	
Annual	Meeting	of	Shareholders.
Annual	Meeting	of	Shareholders.

Definitive	Proxy	Statement	for	the	2015	
Definitive	Proxy	Statement	for	the	2015	
Annual	Meeting	of	Shareholders.
Annual	Meeting	of	Shareholders.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2015.
quarter	ended	June	30,	2015.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2015.
quarter	ended	June	30,	2015.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2015.
quarter	ended	June	30,	2015.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	March	31,	2015.
quarter	ended	March	31,	2015.

Annual	Report	on	Form 10-K	for	the	
Annual	Report	on	Form 10-K	for	the	
year	ended	December	31,	2017.
year	ended	December	31,	2017.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	March	31,	2017.
quarter	ended	March	31,	2017.

Definitive	Proxy	Statement	for	2018	
Definitive	Proxy	Statement	for	2018	
Annual	Meeting	of	Shareholders.
Annual	Meeting	of	Shareholders.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2018.
quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2018.
quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	June	30,	2018.
quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	September	30,	2018.
quarter	ended	September	30,	2018.

Annual	Report	on	Form	10-K	for	the	year	
Annual	Report	on	Form	10-K	for	the	year	
ended	December	31,	2018.
ended	December	31,	2018.

Current	Report	on	Form	8-K,	dated	May	
Current	Report	on	Form	8-K,	dated	May	
13,	2019.
13,	2019.

10.21
10.21

10.22
10.22

10.23
10.23

10.24
10.24

10.25
10.25

10.26
10.26

10.30
10.30

10.31
10.31

10.32
10.32

10.38
10.38

10.39
10.39

10.40
10.40

10.41
10.41

10.42
10.42

10.43
10.43

14.1(P)
14.1(P)

*Second	Amendment	to	Huntington	Supplemental	401(k)	Plan	dated	
*Second	Amendment	to	Huntington	Supplemental	401(k)	Plan	dated	
October	22,	2019.	
October	22,	2019.	

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	September	30,	2019.
quarter	ended	September	30,	2019.

*First	Amendment	to	The	Huntington	National	Bank	Supplemental	
*First	Amendment	to	The	Huntington	National	Bank	Supplemental	
Retirement	Income	Plan	dated	October	23,	2019.
Retirement	Income	Plan	dated	October	23,	2019.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	September	30,	2019.
quarter	ended	September	30,	2019.

*Management	Incentive	Plan	effective	for	Plan	Years	Beginning	On	or	
*Management	Incentive	Plan	effective	for	Plan	Years	Beginning	On	or	
After	January	1,	2020.
After	January	1,	2020.

Quarterly	Report	on	Form	10-Q	for	the	
Quarterly	Report	on	Form	10-Q	for	the	
quarter	ended	March	31,	2020.
quarter	ended	March	31,	2020.

001-34073
001-34073

10.1
10.1

Code	of	Business	Conduct	and	Ethics	dated	January	14,	2003	and	revised	
Code	of	Business	Conduct	and	Ethics	dated	January	14,	2003	and	revised	
on	January	24,	2018	and	Financial	Code	of	Ethics	for	Chief	Executive	
on	January	24,	2018	and	Financial	Code	of	Ethics	for	Chief	Executive	
Officer	and	Senior	Financial	Officers,	adopted	January	18,	2003	and	revised	
Officer	and	Senior	Financial	Officers,	adopted	January	18,	2003	and	revised	
on	October	20,	2015,	are	available	on	our	website	at	http://
on	October	20,	2015,	are	available	on	our	website	at	http://
www.huntington.com/About-Us/corporate-governance
www.huntington.com/About-Us/corporate-governance

001-34073
001-34073

10.1
10.1

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

001-34073
001-34073

A
A

10.2
10.2

10.3
10.3

10.4
10.4

10.1
10.1

001-34073
001-34073

10.40
10.40

001-34073
001-34073

001-34073
001-34073

10.1
10.1

10.1
10.1

001-34073
001-34073

10.2
10.2

*	Amended	and	Restated	Deferred	Compensation	Plan	and	Trust	for	
*	Amended	and	Restated	Deferred	Compensation	Plan	and	Trust	for	
Huntington	Bancshares	Incorporated	Directors
Huntington	Bancshares	Incorporated	Directors

Annual	Report	on	Form	10-K	for	the	year	
Annual	Report	on	Form	10-K	for	the	year	
ended	December	31,	2017.
ended	December	31,	2017.

001-34073
001-34073

10.33
10.33

21.1
21.1

Subsidiaries	of	the	Registrant
Subsidiaries	of	the	Registrant

178					Huntington	Bancshares	Incorporated
178					Huntington	Bancshares	Incorporated

2020	Form	10-K					179

2020	Form	10-K					179

23.1
23.1

24.1
24.1

31.1
31.1

31.2
31.2

32.1
32.1

32.2
32.2

101
101

Consent	of	PricewaterhouseCoopers	LLP,	Independent	Registered	Public	
Consent	of	PricewaterhouseCoopers	LLP,	Independent	Registered	Public	
Accounting	Firm.
Accounting	Firm.

Power	of	Attorney
Power	of	Attorney

Rule	13a-14(a)	Certification	–	Chief	Executive	Officer.
Rule	13a-14(a)	Certification	–	Chief	Executive	Officer.

Rule	13a-14(a)	Certification	–	Chief	Financial	Officer.
Rule	13a-14(a)	Certification	–	Chief	Financial	Officer.

Section	1350	Certification	–	Chief	Executive	Officer.
Section	1350	Certification	–	Chief	Executive	Officer.

Section	1350	Certification	–	Chief	Financial	Officer.
Section	1350	Certification	–	Chief	Financial	Officer.

The	following	material	from	Huntington’s	Form	10-K	Report	for	the	year	
The	following	material	from	Huntington’s	Form	10-K	Report	for	the	year	
ended	December	31,	2020,	formatted	in	Inline	XBRL:	(1)	Consolidated	
ended	December	31,	2020,	formatted	in	Inline	XBRL:	(1)	Consolidated	
Balance	Sheets,	(2)	Consolidated	Statements	of	Income,	(3),	Consolidated	
Balance	Sheets,	(2)	Consolidated	Statements	of	Income,	(3),	Consolidated	
Statements	of	Comprehensive	Income,	(4)	Consolidated	Statements	of	
Statements	of	Comprehensive	Income,	(4)	Consolidated	Statements	of	
Changes	in	Shareholders’	Equity,	(5)	Consolidated	Statements	of	Cash	
Changes	in	Shareholders’	Equity,	(5)	Consolidated	Statements	of	Cash	
Flows,	and	(6)	the	Notes	to	the	Consolidated	Financial	Statements.
Flows,	and	(6)	the	Notes	to	the	Consolidated	Financial	Statements.

104
104

Cover	Page	Interactive	Data	File	-	the	cover	page	XBRL	tags	are	embedded	
Cover	Page	Interactive	Data	File	-	the	cover	page	XBRL	tags	are	embedded	
within	the	Inline	XBRL	document.
within	the	Inline	XBRL	document.

*	Denotes	management	contract	or	compensatory	plan	or	arrangement.
*	Denotes	management	contract	or	compensatory	plan	or	arrangement.

10.15

10.15

*	Huntington	Bancshares	Incorporated	2007	Stock	and	Long-Term	

*	Huntington	Bancshares	Incorporated	2007	Stock	and	Long-Term	

Definitive	Proxy	Statement	for	the	2007	

Definitive	Proxy	Statement	for	the	2007	

000-02525

000-02525

Incentive	Plan.

Incentive	Plan.

10.16

10.16

*	First	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

*	First	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

000-02525

000-02525

10.7

10.7

Annual	Meeting	of	Stockholders.

Annual	Meeting	of	Stockholders.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	September	30,	2007.

quarter	ended	September	30,	2007.

Annual	Meeting	of	Shareholders.

Annual	Meeting	of	Shareholders.

10.17

10.17

*	Second	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

*	Second	Amendment	to	the	2007	Stock	and	Long-Term	Incentive	Plan.

Definitive	Proxy	Statement	for	the	2010	

Definitive	Proxy	Statement	for	the	2010	

001-34073

001-34073

10.18

10.18

*	Form	of	Consolidated	2012	Stock	Grant	Agreement	for	Executive	Officers	

*	Form	of	Consolidated	2012	Stock	Grant	Agreement	for	Executive	Officers	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

Pursuant	to	Huntington’s	2012	Long-Term	Incentive	Plan.

Pursuant	to	Huntington’s	2012	Long-Term	Incentive	Plan.

quarter	ended	June	30,	2012.

quarter	ended	June	30,	2012.

10.19

10.19

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.20

10.20

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers.

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.21

10.21

*	Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	

*	Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.22

10.22

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	

*	Form	of	2014	Restricted	Stock	Unit	Grant	Agreement	for	Executive	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.23

10.23

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers	

*	Form	of	2014	Stock	Option	Grant	Agreement	for	Executive	Officers	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.24

10.24

*Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	

*Form	of	2014	Performance	Stock	Unit	Grant	Agreement	for	Executive	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

quarter	ended	June	30,	2014.

Officers.

Officers.

Officers.

Officers.

Officers	Version	II.

Officers	Version	II.

Version	II.

Version	II.

Officers	Version	II.

Officers	Version	II.

*Huntington	Bancshares	Incorporated	2012	Long-Term	Incentive	Plan.

*Huntington	Bancshares	Incorporated	2012	Long-Term	Incentive	Plan.

Annual	Meeting	of	Shareholders.

Annual	Meeting	of	Shareholders.

*Huntington	Bancshares	Incorporated	2015	Long-Term	Incentive	Plan.	

*Huntington	Bancshares	Incorporated	2015	Long-Term	Incentive	Plan.	

Annual	Meeting	of	Shareholders.

Annual	Meeting	of	Shareholders.

10.27

10.27

*Form	of	2015	Stock	Option	Grant	Agreement.

*Form	of	2015	Stock	Option	Grant	Agreement.

10.28

10.28

*Form	of	2015	Restricted	Stock	Unit	Grant	Agreement.

*Form	of	2015	Restricted	Stock	Unit	Grant	Agreement.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

10.29

10.29

*Form	of	2015	Performance	Share	Unit	Grant	Agreement.

*Form	of	2015	Performance	Share	Unit	Grant	Agreement.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

*Huntington	Bancshares	Incorporated	Restricted	Stock	Unit	Grant	

*Huntington	Bancshares	Incorporated	Restricted	Stock	Unit	Grant	

Agreement.

Agreement.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

001-34073

quarter	ended	March	31,	2015.

quarter	ended	March	31,	2015.

*	Deferred	Compensation	Plan	and	Trust	for	Directors

*	Deferred	Compensation	Plan	and	Trust	for	Directors

*	Amended	and	Restated	Deferred	Compensation	Plan	and	Trust	for	

*	Amended	and	Restated	Deferred	Compensation	Plan	and	Trust	for	

Huntington	Bancshares	Incorporated	Directors

Huntington	Bancshares	Incorporated	Directors

Annual	Report	on	Form 10-K	for	the	

Annual	Report	on	Form 10-K	for	the	

year	ended	December	31,	2017.

year	ended	December	31,	2017.

001-34073

001-34073

10.32

10.32

Annual	Report	on	Form	10-K	for	the	year	

Annual	Report	on	Form	10-K	for	the	year	

001-34073

001-34073

10.33

10.33

10.33

10.33

*	First	Amendment	to	the	2015	Long-Term	Incentive	Plan

*	First	Amendment	to	the	2015	Long-Term	Incentive	Plan

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10.1

10.1

Definitive	Proxy	Statement	for	the	2012	

Definitive	Proxy	Statement	for	the	2012	

001-34073

001-34073

Definitive	Proxy	Statement	for	the	2015	

Definitive	Proxy	Statement	for	the	2015	

001-34073

001-34073

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	June	30,	2015.

quarter	ended	June	30,	2015.

001-34073

001-34073

quarter	ended	June	30,	2015.

quarter	ended	June	30,	2015.

quarter	ended	June	30,	2015.

quarter	ended	June	30,	2015.

ended	December	31,	2017.

ended	December	31,	2017.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	March	31,	2017.

quarter	ended	March	31,	2017.

Definitive	Proxy	Statement	for	2018	

Definitive	Proxy	Statement	for	2018	

Annual	Meeting	of	Shareholders.

Annual	Meeting	of	Shareholders.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	June	30,	2018.

quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	June	30,	2018.

quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	June	30,	2018.

quarter	ended	June	30,	2018.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	September	30,	2018.

quarter	ended	September	30,	2018.

001-34073

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001-34073

10.34

10.34

*Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan.

*Huntington	Bancshares	Incorporated	2018	Long-Term	Incentive	Plan.

10.35

10.35

*Form	of	2018	Stock	Option	Grant	Agreement.

*Form	of	2018	Stock	Option	Grant	Agreement.

10.36

10.36

*Form	of	2018	Restricted	Stock	Unit	Agreement.

*Form	of	2018	Restricted	Stock	Unit	Agreement.

10.37

10.37

*Form	of	2018	Performance	Share	Unit	Grant	Agreement.

*Form	of	2018	Performance	Share	Unit	Grant	Agreement.

10.38

10.38

*Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	

*Executive	Deferred	Compensation	Plan,	as	amended	and	restated	on	

April	18,	2018.

April	18,	2018.

*Huntington	Supplemental	401(k)	Plan	(f/k/a	Huntington	Supplemental	

*Huntington	Supplemental	401(k)	Plan	(f/k/a	Huntington	Supplemental	

Stock	Purchase	and	Savings	Plan	and	Trust),	as	amended	and	restated	

Stock	Purchase	and	Savings	Plan	and	Trust),	as	amended	and	restated	

effective	January	1,	2019.

effective	January	1,	2019.

Annual	Report	on	Form	10-K	for	the	year	

Annual	Report	on	Form	10-K	for	the	year	

ended	December	31,	2018.

ended	December	31,	2018.

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10.40

10.40

Transition	Agreement	dated	May	13,	2019,	by	and	between	The	

Transition	Agreement	dated	May	13,	2019,	by	and	between	The	

Huntington	National	Bank	and	Howell	D.	McCullough	

Huntington	National	Bank	and	Howell	D.	McCullough	

13,	2019.

13,	2019.

Current	Report	on	Form	8-K,	dated	May	

Current	Report	on	Form	8-K,	dated	May	

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*Second	Amendment	to	Huntington	Supplemental	401(k)	Plan	dated	

*Second	Amendment	to	Huntington	Supplemental	401(k)	Plan	dated	

October	22,	2019.	

October	22,	2019.	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	September	30,	2019.

quarter	ended	September	30,	2019.

*First	Amendment	to	The	Huntington	National	Bank	Supplemental	

*First	Amendment	to	The	Huntington	National	Bank	Supplemental	

Retirement	Income	Plan	dated	October	23,	2019.

Retirement	Income	Plan	dated	October	23,	2019.

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

quarter	ended	September	30,	2019.

quarter	ended	September	30,	2019.

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10.2

10.2

10.43

10.43

*Management	Incentive	Plan	effective	for	Plan	Years	Beginning	On	or	

*Management	Incentive	Plan	effective	for	Plan	Years	Beginning	On	or	

Quarterly	Report	on	Form	10-Q	for	the	

Quarterly	Report	on	Form	10-Q	for	the	

001-34073

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10.1

10.1

After	January	1,	2020.

After	January	1,	2020.

quarter	ended	March	31,	2020.

quarter	ended	March	31,	2020.

G

G

A

A

10.2

10.2

10.1

10.1

10.2

10.2

10.3

10.3

10.4

10.4

10.5

10.5

10.6

10.6

A

A

A

A

10.2

10.2

10.3

10.3

10.4

10.4

10.1

10.1

A

A

10.2

10.2

10.3

10.3

10.4

10.4

10.1

10.1

10.1

10.1

10.1

10.1

10.25

10.25

10.26

10.26

10.30

10.30

10.31

10.31

10.32

10.32

10.39

10.39

10.40

10.40

10.41

10.41

10.42

10.42

14.1(P)

14.1(P)

Code	of	Business	Conduct	and	Ethics	dated	January	14,	2003	and	revised	

Code	of	Business	Conduct	and	Ethics	dated	January	14,	2003	and	revised	

on	January	24,	2018	and	Financial	Code	of	Ethics	for	Chief	Executive	

on	January	24,	2018	and	Financial	Code	of	Ethics	for	Chief	Executive	

Officer	and	Senior	Financial	Officers,	adopted	January	18,	2003	and	revised	

Officer	and	Senior	Financial	Officers,	adopted	January	18,	2003	and	revised	

on	October	20,	2015,	are	available	on	our	website	at	http://

on	October	20,	2015,	are	available	on	our	website	at	http://

www.huntington.com/About-Us/corporate-governance

www.huntington.com/About-Us/corporate-governance

21.1

21.1

Subsidiaries	of	the	Registrant

Subsidiaries	of	the	Registrant

178					Huntington	Bancshares	Incorporated

178					Huntington	Bancshares	Incorporated

2020	Form	10-K					179
2020	Form	10-K					179

SignaturesPursuant	to	the	requirements	of	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934,	the	Registrant	has	duly	caused	this	report	to	be	signed	on	its	behalf	by	the	undersigned,	thereunto	duly	authorized,	on	the	26th	day	of	February,	2021.HUNTINGTON	BANCSHARES	INCORPORATED(Registrant)	By:/s/	Stephen	D.	SteinourBy:/s/	Zachary	WassermanStephen	D.	SteinourZachary	WassermanChairman,	President,	Chief	ExecutiveChief	Financial	OfficerOfficer,	and	Director	(Principal	Executive	Officer)(Principal	Financial	Officer)By:/s/	Nancy	E.	MaloneyNancy	E.	MaloneyExecutive	Vice	President,	Controller(Principal	Accounting	Officer)Pursuant	to	the	requirements	of	the	Securities	Exchange	Act	of	1934,	this	report	has	been	signed	below	by	the	following	persons	on	behalf	of	the	Registrant	and	in	the	capacities	indicated	on	the	26th	day	of	February,	2021.	Lizabeth	Ardisana	*Lizabeth	ArdisanaDirectorAlanna	Y.	Cotton	*Alanna	Y.	CottonDirectorAnn	B.	Crane	*Ann	B.	CraneDirectorRobert	S.	Cubbin	*Robert	S.	CubbinDirectorSteven	G.	Elliott	*Steven	G.	ElliottDirectorGina	D.	France	*Gina	D.	FranceDirector180					Huntington	Bancshares	IncorporatedJ.	Michael	Hochschwender	*J.	Michael	HochschwenderDirectorJohn	C.	Inglis	*John	C.	InglisDirectorKatherine	M.	A.	Kline	*Katherine	M.	A.	KlineDirectorRichard	W.	Neu	*Richard	W.	NeuDirectorKenneth	J.	Phelan	*Kenneth	J.	PhelanDirectorDavid	L.	Porteous	*David	L.	PorteousDirector*/s/	Jana	J.	LitseyJana	J.	LitseyAttorney-in-fact	for	each	of	the	persons	indicated2020	Form	10-K					181SignaturesPursuant	to	the	requirements	of	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934,	the	Registrant	has	duly	caused	this	report	to	be	signed	on	its	behalf	by	the	undersigned,	thereunto	duly	authorized,	on	the	26th	day	of	February,	2021.HUNTINGTON	BANCSHARES	INCORPORATED(Registrant)	By:/s/	Stephen	D.	SteinourBy:/s/	Zachary	WassermanStephen	D.	SteinourZachary	WassermanChairman,	President,	Chief	ExecutiveChief	Financial	OfficerOfficer,	and	Director	(Principal	Executive	Officer)(Principal	Financial	Officer)By:/s/	Nancy	E.	MaloneyNancy	E.	MaloneyExecutive	Vice	President,	Controller(Principal	Accounting	Officer)Pursuant	to	the	requirements	of	the	Securities	Exchange	Act	of	1934,	this	report	has	been	signed	below	by	the	following	persons	on	behalf	of	the	Registrant	and	in	the	capacities	indicated	on	the	26th	day	of	February,	2021.	Lizabeth	Ardisana	*Lizabeth	ArdisanaDirectorAlanna	Y.	Cotton	*Alanna	Y.	CottonDirectorAnn	B.	Crane	*Ann	B.	CraneDirectorRobert	S.	Cubbin	*Robert	S.	CubbinDirectorSteven	G.	Elliott	*Steven	G.	ElliottDirectorGina	D.	France	*Gina	D.	FranceDirector180					Huntington	Bancshares	IncorporatedJ.	Michael	Hochschwender	*J.	Michael	HochschwenderDirectorJohn	C.	Inglis	*John	C.	InglisDirectorKatherine	M.	A.	Kline	*Katherine	M.	A.	KlineDirectorRichard	W.	Neu	*Richard	W.	NeuDirectorKenneth	J.	Phelan	*Kenneth	J.	PhelanDirectorDavid	L.	Porteous	*David	L.	PorteousDirector*/s/	Jana	J.	LitseyJana	J.	LitseyAttorney-in-fact	for	each	of	the	persons	indicated2020	Form	10-K					181SignaturesPursuant	to	the	requirements	of	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934,	the	Registrant	has	duly	caused	this	report	to	be	signed	on	its	behalf	by	the	undersigned,	thereunto	duly	authorized,	on	the	26th	day	of	February,	2021.HUNTINGTON	BANCSHARES	INCORPORATED(Registrant)	By:/s/	Stephen	D.	SteinourBy:/s/	Zachary	WassermanStephen	D.	SteinourZachary	WassermanChairman,	President,	Chief	ExecutiveChief	Financial	OfficerOfficer,	and	Director	(Principal	Executive	Officer)(Principal	Financial	Officer)By:/s/	Nancy	E.	MaloneyNancy	E.	MaloneyExecutive	Vice	President,	Controller(Principal	Accounting	Officer)Pursuant	to	the	requirements	of	the	Securities	Exchange	Act	of	1934,	this	report	has	been	signed	below	by	the	following	persons	on	behalf	of	the	Registrant	and	in	the	capacities	indicated	on	the	26th	day	of	February,	2021.	Lizabeth	Ardisana	*Lizabeth	ArdisanaDirectorAlanna	Y.	Cotton	*Alanna	Y.	CottonDirectorAnn	B.	Crane	*Ann	B.	CraneDirectorRobert	S.	Cubbin	*Robert	S.	CubbinDirectorSteven	G.	Elliott	*Steven	G.	ElliottDirectorGina	D.	France	*Gina	D.	FranceDirector180					Huntington	Bancshares	IncorporatedJ.	Michael	Hochschwender	*J.	Michael	HochschwenderDirectorJohn	C.	Inglis	*John	C.	InglisDirectorKatherine	M.	A.	Kline	*Katherine	M.	A.	KlineDirectorRichard	W.	Neu	*Richard	W.	NeuDirectorKenneth	J.	Phelan	*Kenneth	J.	PhelanDirectorDavid	L.	Porteous	*David	L.	PorteousDirector*/s/	Jana	J.	LitseyJana	J.	LitseyAttorney-in-fact	for	each	of	the	persons	indicated2020	Form	10-K					181SignaturesPursuant	to	the	requirements	of	Section	13	or	15(d)	of	the	Securities	Exchange	Act	of	1934,	the	Registrant	has	duly	caused	this	report	to	be	signed	on	its	behalf	by	the	undersigned,	thereunto	duly	authorized,	on	the	26th	day	of	February,	2021.HUNTINGTON	BANCSHARES	INCORPORATED(Registrant)	By:/s/	Stephen	D.	SteinourBy:/s/	Zachary	WassermanStephen	D.	SteinourZachary	WassermanChairman,	President,	Chief	ExecutiveChief	Financial	OfficerOfficer,	and	Director	(Principal	Executive	Officer)(Principal	Financial	Officer)By:/s/	Nancy	E.	MaloneyNancy	E.	MaloneyExecutive	Vice	President,	Controller(Principal	Accounting	Officer)Pursuant	to	the	requirements	of	the	Securities	Exchange	Act	of	1934,	this	report	has	been	signed	below	by	the	following	persons	on	behalf	of	the	Registrant	and	in	the	capacities	indicated	on	the	26th	day	of	February,	2021.	Lizabeth	Ardisana	*Lizabeth	ArdisanaDirectorAlanna	Y.	Cotton	*Alanna	Y.	CottonDirectorAnn	B.	Crane	*Ann	B.	CraneDirectorRobert	S.	Cubbin	*Robert	S.	CubbinDirectorSteven	G.	Elliott	*Steven	G.	ElliottDirectorGina	D.	France	*Gina	D.	FranceDirector180					Huntington	Bancshares	IncorporatedJ.	Michael	Hochschwender	*J.	Michael	HochschwenderDirectorJohn	C.	Inglis	*John	C.	InglisDirectorKatherine	M.	A.	Kline	*Katherine	M.	A.	KlineDirectorRichard	W.	Neu	*Richard	W.	NeuDirectorKenneth	J.	Phelan	*Kenneth	J.	PhelanDirectorDavid	L.	Porteous	*David	L.	PorteousDirector*/s/	Jana	J.	LitseyJana	J.	LitseyAttorney-in-fact	for	each	of	the	persons	indicated2020	Form	10-K					181This page intentionally left blank.

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CONSOLIDATED	FINANCIAL	HIGHLIGHTS

(In	millions,	except	per	share	amounts)

2020

2019

Change
Amount

Change
Percent

817	

$	

1,411	

$	

(594)	

	(42)	%

0.69	
0.60	
8.51	

$	

1.27	
0.58	
8.25	

$	

(0.58)	
0.02	
0.26	

	(46)	%
	3	%
	3	%

NET	INCOME

PER	COMMON	SHARE	AMOUNTS
Net	income	(loss)	per	common	share	-	diluted
Cash	dividend	declared	per	common	share
Tangible	book	value	per	common	share	(1)(4)
PERFORMANCE	RATIOS
Return	on	average	total	assets
Return	on	average	tangible	common	shareholders’	equity
Net	interest	margin	(2)
Efficiency	ratio	(3)
CAPITAL	RATIOS
Tangible	common	equity/tangible	asset	ratio	(1)	(4)	(5)
CET	1	risk-based	capital	ratio	(1)
Tier	1	risk-based	capital	ratio	(1)
Total	risk-based	capital	ratio	(1)
CREDIT	QUALITY	MEASURES
Net	charge-offs	(NCOs)
NCOs	as	a	%	of	average	loans	and	leases
Non-accrual	loans	(NALs)	(1)
NAL	ratio	(1)	(6)
Non-performing	assets	(NPAs)	(1)
NPA	ratio	(1)	(7)
Allowance	for	loan	and	lease	losses	(ALLL)	(1)
ALLL	as	a	%	of	total	loans	and	leases	(1)
ALLL	as	a	%	of	NALs	(1)
Allowance	for	credit	losses	(ACL)	(1)
ACL	as	a	%	of	total	loans	and	leases	(1)
ACL	as	a	%	of	NALs	(1)
BALANCE	SHEET	-	DECEMBER	31,
Total	loans	and	leases
Total	assets
Total	deposits
Total	shareholders’	equity

$	

$	

$	

$	

$	

$	

$	

	0.70	%
	8.9	
	2.99	
	56.9	

	7.16	%

	10.00	
	12.47	
	14.46	

449	
	0.57	%
532	
	0.65	%
563	
	0.69	%
1,814	
	2.22	%
	341	
1,866	
	2.29	%
	351	

	1.31	%
	16.9	
	3.26	
	56.6	

	7.88	%
	9.88	
	11.26	
	13.04	

265	
	0.35	%
468	
	0.62	%
498	
	0.66	%
783	
	1.04	%
	167	
887	
	1.18	%
	190	

$	

$	

$	

$	

$	

$	 81,608	
	 123,038	
98,948	
12,993	

$	 75,404	
	 109,002	
82,347	
11,795	

$	

$	

$	

184	
	0.22	%
64	
	0.03	%
65	
	0.03	%

	69	%

	14	%

	13	%

$	

1,031	

	132	%

$	

$	

	1.18	%
	174	
979	
	1.11	%
	161	

6,204	
14,036	
16,601	
1,198	

	110	%

	8	%
	13	%
	20	%
	10	%

(1)

(2)

(3)

(4)

(5)

(6)

(7)

At	December	31.
On	a	fully-taxable	equivalent	(FTE)	basis	assuming	a	21%	tax	rate.
Noninterest	 expense	 less	 amortization	 of	 intangibles	 and	 goodwill	 impairment	 divided	 by	 the	 sum	 of	 FTE	 net	 interest	 income	 and	 noninterest	 income	
excluding	securities	gains	(losses).
Tangible	equity,	tangible	common	equity,	and	tangible	assets	are	non-GAAP	financial	measures.	Additionally,	any	ratios	utilizing	these	financial	measures	
are	also	non-GAAP.	These	financial	measures	have	been	included	as	they	are	considered	to	be	critical	metrics	with	which	to	analyze	and	evaluate	financial	
condition	and	capital	strength.	Other	companies	may	calculate	these	financial	measures	differently.
Tangible	equity	(total	equity	less	goodwill	and	other	intangible	assets)	divided	by	tangible	assets	(total	assets	less	goodwill	and	other	intangible	assets).	
Other	intangible	assets	are	net	of	deferred	tax	and	calculated	at	a	21%	tax	rate.
NALs	divided	by	total	loans	and	leases.
NPAs	divided	by	the	sum	of	total	loans	and	leases	and	other	real	estate	owned.

CONTACT	AND	OTHER	INFORMATION

SHAREHOLDER	CONTACTS
Registered	 shareholders	 (holders	 of	 record	 with	 the	 company)	 requesting	 information	 about	 share	 balances,	 change	 of	
name	or	address,	lost	certificates,	or	other	shareholder	account	matters	should	contact	Huntington’s	transfer	agent:

Computershare	Investor	Services
Attn:		Shareholder	Services
P.O.	Box	50500
Louisville,	KY	40233-5000
(800)	725-0674

www.computershare.com/hban

Beneficial	shareholders	(owners	of	shares	held	in	a	bank	or	brokerage	account):		When	you	purchase	stock	and	it	is	held	
for	you	by	your	broker,	it	is	listed	with	the	company	in	the	broker’s	name,	and	this	is	sometimes	referred	to	as	holding	
shares	in	“street	name.”	Huntington	does	not	know	the	identity	of	individual	shareholders	who	hold	their	shares	in	this	
manner;	we	simply	know	that	a	broker	holds	a	certain	number	of	shares	which	may	be	for	any	number	of	customers.	If	
you	hold	your	stock	in	street	name,	you	receive	all	dividend	payments,	annual	reports,	and	proxy	materials	through	your	
broker.	Therefore,	questions	about	your	account	should	be	directed	to	your	broker.

DIRECT	STOCK	PURCHASE	AND	DIVIDEND	REINVESTMENT	PLAN
Computershare	Investment	Plan	(CIP)	is	a	direct	stock	purchase	and	dividend	reinvestment	plan	for	registered	holders	or	
for	those	who	wish	to	become	registered	holders	of	common	stock	of	Huntington.		The	CIP	is	offered	and	administered	by	
Computershare	 Trust	 Company,	 N.A.	 (Computershare),	 and	 not	 by	 Huntington.	 	 Computershare	 is	 the	 registrar	 and	
transfer	agent	for	Huntington	common	stock.		Call	(800)	725-0674	for	information	to	enroll	in	the	CIP.

DIRECT	DEPOSIT	OF	DIVIDENDS	FOR	REGISTERED	SHAREHOLDERS
Automatic	direct	deposit	of	quarterly	dividends	is	offered	to	our	registered	shareholders	and	provides	secure	and	timely	
access	to	their	funds.		For	further	information,	please	call	the	transfer	agent,	Computershare,	at	(800)	725-0674.

SHAREHOLDER	INFORMATION
Common	Stock:
The	common	stock	of	Huntington	Bancshares	Incorporated	is	traded	on	Nasdaq	under	the	symbol	“HBAN.”	

Information	Requests:
Copies	of	Huntington’s	Annual	Report;	Forms	10-K,	10-Q,	and	8-K;	Financial	Code	of	Ethics;	and	quarterly	earnings	releases	
may	 be	 obtained,	 free	 of	 charge,	 by	 calling	 (614)	 480-5676	 or	 by	 visiting	 the	 Investor	 Relations	 section	 of	 Huntington’s	
website,	www.huntington.com.

ANALYST	AND	INVESTOR	CONTACTS
Analysts	and	investors	seeking	information	about	Huntington	should	contact:

Huntington	Investor	Relations
Huntington	Center,	HC0935
41	South	High	Street
Columbus,	OH	43287

huntington.investor.relations@huntington.com

Retail	Shareholder	Inquiries			(800)	576-5007
All	Other	Investor	Inquiries					(614)	480-5676

	
	
	
	
	
	
	
	
	
	
	
	
	
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Huntington Bancshares Incorporated

Huntington Center  |  41 South High Street, Columbus, Ohio 43287
800-480-2265  |  huntington.com

huntington bancshares incorporated
2020 annual report

The Huntington National Bank, Member FDIC. ⬢®, Huntington® and ⬢ Huntington® are federally registered service marks of Huntington 
Bancshares Incorporated. © 2021 Huntington Bancshares Incorporated.