Cover Page
Cover Page | 9 Months Ended |
Sep. 30, 2019shares | |
Entity Information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2019 |
Document Transition Report | false |
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD |
Entity Incorporation, State or Country Code | MD |
Entity File Number | 1-34073 |
Entity Tax Identification Number | 31-0724920 |
Entity Address, Address Line One | 41 South High Street |
Entity Address, City or Town | Columbus |
Entity Address, State or Province | OH |
Entity Address, Postal Zip Code | 43287 |
City Area Code | 614 |
Local Phone Number | 480-2265 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding (in shares) | 1,032,755,207 |
Entity Central Index Key | 0000049196 |
Amendment Flag | false |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
5.875% Series C Non-Cumulative, perpetual preferred stock | |
Entity Information [Line Items] | |
Title of 12(b) Security | 5.875% Series C Non-Cumulative, perpetual preferred stock |
Trading Symbol | HBANN |
Security Exchange Name | NASDAQ |
6.250% Series D Non-Cumulative, perpetual preferred stock | |
Entity Information [Line Items] | |
Title of 12(b) Security | 6.250% Series D Non-Cumulative, perpetual preferred stock |
Trading Symbol | HBANO |
Security Exchange Name | NASDAQ |
Common Stock-Par Value $0.01 per share | |
Entity Information [Line Items] | |
Title of 12(b) Security | Common Stock—Par Value $0.01 per Share |
Trading Symbol | HBAN |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and due from banks | $ 1,018 | $ 1,108 | |
Interest-bearing deposits at Federal Reserve Bank | 618 | 1,564 | |
Interest-bearing deposits in banks | 122 | 53 | |
Trading account securities | 118 | 105 | |
Available-for-sale securities | 14,286 | 13,780 | |
Debt Securities, Held-to-maturity | 8,430 | 8,565 | |
Other securities | 455 | 565 | |
Loans held for sale (includes $963 and $613 respectively, measured at fair value) | [1] | 1,064 | 804 |
Loans and leases (includes $80 and $79 respectively, measured at fair value) | [1] | 74,892 | 74,900 |
Allowance for loan and lease losses | (783) | (772) | |
Net loans and leases | 74,109 | 74,128 | |
Bank owned life insurance | 2,532 | 2,507 | |
Premises and equipment | 775 | 790 | |
Goodwill | 1,990 | 1,989 | |
Servicing rights and other intangible assets | 455 | 535 | |
Other assets | 2,763 | 2,288 | |
Total assets | 108,735 | 108,781 | |
Liabilities | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 82,395 | 84,774 | |
Short-term borrowings | 2,173 | 2,017 | |
Long-term debt | 9,874 | 8,625 | |
Other liabilities | 2,384 | 2,263 | |
Total liabilities | 96,826 | 97,679 | |
Shareholders’ equity | |||
Preferred stock | 1,203 | 1,203 | |
Common stock | 10 | 11 | |
Capital surplus | 8,980 | 9,181 | |
Less treasury shares, at cost | (55) | (45) | |
Accumulated other comprehensive loss | (175) | (609) | |
Retained earnings | 1,946 | 1,361 | |
Total shareholders’ equity | 11,909 | 11,102 | |
Total liabilities and shareholders’ equity | $ 108,735 | $ 108,781 | |
Common shares authorized (par value of $0.01) (in shares) | 1,500,000,000 | 1,500,000,000 | |
Common shares outstanding (in shares) | 1,032,755,207 | 1,046,767,252 | |
Treasury shares outstanding (in shares) | 4,548,310 | 3,817,385 | |
Preferred stock, authorized shares (in shares) | 6,617,808 | 6,617,808 | |
Preferred shares outstanding (in shares) | 740,500 | 740,500 | |
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Loans held for sale, fair value | $ 963 | $ 613 |
Loans and leases, fair value | $ 80 | $ 79 |
Shareholders’ equity | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest and fee income: | ||||
Loans and leases | $ 889 | $ 848 | $ 2,692 | $ 2,414 |
Available-for-sale securities | ||||
Taxable | 74 | 68 | 222 | 209 |
Tax-exempt | 20 | 24 | 64 | 71 |
Held-to-maturity securities—taxable | 54 | 52 | 164 | 159 |
Other securities—taxable | 3 | 6 | 13 | 19 |
Other | 12 | 9 | 35 | 21 |
Total interest income | 1,052 | 1,007 | 3,190 | 2,893 |
Interest expense: | ||||
Deposits | 154 | 112 | 449 | 259 |
Short-term borrowings | 13 | 9 | 46 | 42 |
Subordinated notes and other long-term debt | 86 | 84 | 262 | 236 |
Total interest expense | 253 | 205 | 757 | 537 |
Net interest income | 799 | 802 | 2,433 | 2,356 |
Provision for credit losses | 82 | 53 | 208 | 175 |
Net interest income after provision for credit losses | 717 | 749 | 2,225 | 2,181 |
Service charges on deposit accounts | 98 | 93 | 277 | 270 |
Cards and payment processing income | 64 | 57 | 183 | 166 |
Trust and investment management services | 44 | 43 | 131 | 129 |
Mortgage banking income | 54 | 31 | 109 | 85 |
Capital markets fees | 36 | 26 | 92 | 74 |
Insurance income | 20 | 19 | 64 | 61 |
Bank Owned Life Insurance Income | 18 | 19 | 49 | 51 |
Gain (Loss) on Sales of Loans, Net | 13 | 16 | 39 | 39 |
Net (losses) gains on sales of securities | 0 | (2) | (2) | (2) |
Noninterest Income, Other Operating Income | 42 | 40 | 140 | 119 |
Total noninterest income | 389 | 342 | 1,082 | 992 |
Personnel costs | 406 | 388 | 1,228 | 1,160 |
Outside data processing and other services | 87 | 69 | 257 | 211 |
Net occupancy | 38 | 38 | 118 | 114 |
Equipment | 41 | 38 | 121 | 116 |
Deposit and other insurance expense | 8 | 18 | 24 | 54 |
Professional services | 16 | 17 | 40 | 43 |
Marketing | 10 | 12 | 28 | 38 |
Amortization of intangibles | 12 | 13 | 37 | 40 |
Other noninterest expense | 49 | 58 | 167 | 160 |
Total noninterest expense | 667 | 651 | 2,020 | 1,936 |
Income before income taxes | 439 | 440 | 1,287 | 1,237 |
Provision for income taxes | 67 | 62 | 193 | 178 |
Net income | 372 | 378 | 1,094 | 1,059 |
Dividends on preferred shares | 18 | 18 | 55 | 51 |
Net income applicable to common shares | $ 354 | $ 360 | $ 1,039 | $ 1,008 |
Average common shares—basic (in shares) | 1,034,940 | 1,084,536 | 1,042,246 | 1,090,570 |
Average common shares—diluted (in shares) | 1,051,273 | 1,103,740 | 1,059,064 | 1,116,978 |
Per common share: | ||||
Net income—basic (in usd per share) | $ 0.34 | $ 0.33 | $ 1 | $ 0.92 |
Net income—diluted (in usd per share) | $ 0.34 | $ 0.33 | $ 0.98 | $ 0.90 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 372 | $ 378 | $ 1,094 | $ 1,059 |
Unrealized gains (losses) on available-for-sale securities: | ||||
Unrealized net gains (losses) on available-for-sale securities arising during the period, net of reclassification for net realized gains and losses | (69) | 62 | (349) | 264 |
Total unrealized gains (losses) on available-for-sale securities | 69 | (62) | 349 | (264) |
Change in fair value related to cash flow hedges, net of reclassification to earnings | 28 | 0 | ||
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 82 | 0 | ||
Change in accumulated unrealized losses for pension and other post-retirement obligations | 1 | 1 | 3 | 3 |
Other comprehensive income (loss), net of tax | 98 | (61) | 434 | (261) |
Comprehensive income | $ 470 | $ 317 | $ 1,528 | $ 798 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Common Stock | Capital Surplus | Treasury Stock | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Preferred Stock | Series B Preferred Stock | Series B Preferred StockRetained Earnings (Deficit) | Series C Preferred Stock | Series C Preferred StockRetained Earnings (Deficit) | Series E Preferred Stock | Series E Preferred StockRetained Earnings (Deficit) | Series D Preferred Stock | Series D Preferred StockRetained Earnings (Deficit) | Series D Preferred StockPreferred Stock |
Balance, beginning of period (in shares) at Dec. 31, 2017 | 1,075,295 | (3,268) | ||||||||||||||
Balance, beginning of period at Dec. 31, 2017 | $ 10,814 | $ 11 | $ 9,707 | $ (35) | $ (528) | $ 588 | $ 1,071 | |||||||||
Comprehensive Income: | ||||||||||||||||
Net income | 1,059 | 1,059 | ||||||||||||||
Other comprehensive income (loss), net of tax | (261) | (261) | ||||||||||||||
Cash dividends declared: | ||||||||||||||||
Common stock, dividend | (393) | (393) | ||||||||||||||
Preferred stock, dividend | $ (2) | $ (2) | $ (4) | $ (4) | $ (17) | $ (17) | $ (28) | $ (28) | ||||||||
Stock Issued During Period, Value, New Issues | 495 | $ 495 | ||||||||||||||
Stock Repurchased and Retired During Period, Shares | (46,677) | |||||||||||||||
Stock Repurchased and Retired During Period, Value | (739) | $ 0 | (739) | |||||||||||||
Conversion of Stock, Amount Converted | 0 | 363 | (363) | |||||||||||||
Conversion of Stock, Shares | 30,330 | |||||||||||||||
Recognition of the fair value of share-based compensation | 59 | 59 | ||||||||||||||
Other share-based compensation activity (in shares) | 6,303 | |||||||||||||||
Other share-based compensation activity | (40) | $ 0 | (32) | (8) | ||||||||||||
Other (in shares) | 454 | |||||||||||||||
Other | (9) | 0 | $ (9) | |||||||||||||
Balance, end of period (in shares) at Sep. 30, 2018 | 1,065,251 | (3,722) | ||||||||||||||
Balance, end of period at Sep. 30, 2018 | 10,934 | $ 11 | 9,358 | $ (44) | (790) | 1,196 | 1,203 | |||||||||
Balance, beginning of period (in shares) at Jun. 30, 2018 | 1,107,817 | (3,268) | ||||||||||||||
Balance, beginning of period at Jun. 30, 2018 | 11,472 | $ 11 | 10,038 | $ (40) | (730) | 990 | 1,203 | |||||||||
Comprehensive Income: | ||||||||||||||||
Net income | 378 | 378 | ||||||||||||||
Other comprehensive income (loss), net of tax | (61) | (61) | ||||||||||||||
Cash dividends declared: | ||||||||||||||||
Common stock, dividend | (150) | (150) | ||||||||||||||
Preferred stock, dividend | (1) | (1) | (1) | (1) | (7) | (7) | (9) | (9) | ||||||||
Stock Repurchased and Retired During Period, Shares | (43,670) | |||||||||||||||
Stock Repurchased and Retired During Period, Value | (691) | $ 0 | (691) | |||||||||||||
Recognition of the fair value of share-based compensation | 15 | 15 | ||||||||||||||
Other share-based compensation activity (in shares) | 1,104 | |||||||||||||||
Other share-based compensation activity | (8) | $ 0 | (4) | (4) | ||||||||||||
Other (in shares) | (454) | |||||||||||||||
Other | (3) | $ (4) | 1 | |||||||||||||
Balance, end of period (in shares) at Sep. 30, 2018 | 1,065,251 | (3,722) | ||||||||||||||
Balance, end of period at Sep. 30, 2018 | 10,934 | $ 11 | 9,358 | $ (44) | (790) | 1,196 | 1,203 | |||||||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (1) | |||||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||||||||||||||
Balance, beginning of period (in shares) at Dec. 31, 2018 | 1,050,584 | (3,817) | ||||||||||||||
Balance, beginning of period at Dec. 31, 2018 | 11,102 | $ 11 | 9,181 | $ (45) | (609) | 1,361 | 1,203 | |||||||||
Comprehensive Income: | ||||||||||||||||
Net income | 1,094 | 1,094 | ||||||||||||||
Other comprehensive income (loss), net of tax | 434 | 434 | ||||||||||||||
Cash dividends declared: | ||||||||||||||||
Common stock, dividend | (455) | (455) | ||||||||||||||
Preferred stock, dividend | (1) | (1) | (4) | (4) | (21) | (21) | (29) | (29) | ||||||||
Stock Repurchased and Retired During Period, Shares | (18,390) | |||||||||||||||
Stock Repurchased and Retired During Period, Value | (245) | $ (1) | (244) | |||||||||||||
Recognition of the fair value of share-based compensation | 64 | 64 | ||||||||||||||
Other share-based compensation activity (in shares) | 5,109 | |||||||||||||||
Other share-based compensation activity | (21) | $ 0 | (21) | |||||||||||||
Other (in shares) | (731) | |||||||||||||||
Other | (9) | 0 | $ (10) | 1 | ||||||||||||
Balance, end of period (in shares) at Sep. 30, 2019 | 1,037,303 | (4,548) | ||||||||||||||
Balance, end of period at Sep. 30, 2019 | 11,909 | $ 10 | 8,980 | $ (55) | (175) | 1,946 | 1,203 | |||||||||
Balance, beginning of period (in shares) at Jun. 30, 2019 | 1,042,140 | (4,299) | ||||||||||||||
Balance, beginning of period at Jun. 30, 2019 | 11,668 | $ 10 | 9,030 | $ (52) | (273) | 1,750 | 1,203 | |||||||||
Comprehensive Income: | ||||||||||||||||
Net income | 372 | 372 | ||||||||||||||
Other comprehensive income (loss), net of tax | 98 | 98 | ||||||||||||||
Cash dividends declared: | ||||||||||||||||
Common stock, dividend | (158) | (158) | ||||||||||||||
Preferred stock, dividend | $ 0 | $ 0 | $ (1) | $ 1 | $ (7) | $ 7 | $ (10) | $ 10 | ||||||||
Stock Repurchased and Retired During Period, Shares | (5,213) | |||||||||||||||
Stock Repurchased and Retired During Period, Value | (68) | $ 0 | (68) | |||||||||||||
Recognition of the fair value of share-based compensation | 16 | 16 | ||||||||||||||
Other share-based compensation activity (in shares) | 376 | |||||||||||||||
Other share-based compensation activity | (2) | $ 0 | (2) | |||||||||||||
Other (in shares) | (249) | |||||||||||||||
Other | (3) | $ (3) | ||||||||||||||
Balance, end of period (in shares) at Sep. 30, 2019 | 1,037,303 | (4,548) | ||||||||||||||
Balance, end of period at Sep. 30, 2019 | $ 11,909 | $ 10 | $ 8,980 | $ (55) | $ (175) | $ 1,946 | $ 1,203 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Cash dividends declared: | ||||
Common stock, Cash dividend per share (in usd per share) | $ 0.15 | $ 0.14 | $ 0.43 | $ 0.36 |
Series B Preferred Stock | ||||
Cash dividends declared: | ||||
Preferred stock dividend per share (in usd per share) | 12.51 | 12.84 | 39.47 | 36.51 |
Series C Preferred Stock | ||||
Cash dividends declared: | ||||
Preferred stock dividend per share (in usd per share) | 14.69 | 14.69 | 44.07 | 44.07 |
Series D Preferred Stock | ||||
Cash dividends declared: | ||||
Preferred stock dividend per share (in usd per share) | 15.63 | 15.63 | 46.88 | 46.88 |
Series E Preferred Stock | ||||
Cash dividends declared: | ||||
Preferred stock dividend per share (in usd per share) | $ 1,425 | $ 1,425 | $ 4,275 | $ 3,467.50 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Cash Flows [Abstract] | ||
Net cash paid for branch disposition | $ (548) | $ 0 |
Operating activities | ||
Net income | 1,094 | 1,059 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Provision for credit losses | 208 | 175 |
Depreciation and amortization | 308 | 350 |
Share-based compensation expense | 64 | 59 |
Deferred income tax expense | (6) | 125 |
Net losses on sales of securities | 2 | 2 |
Net change in: | ||
Trading account securities | (51) | 3 |
Loans held for sale | (356) | (384) |
Other assets | (662) | (325) |
Other liabilities | 297 | 215 |
Other, net | 2 | (133) |
Net cash provided by (used in) operating activities | 898 | 1,144 |
Investing activities | ||
Change in interest bearing deposits in banks | (121) | 62 |
Proceeds from: | ||
Maturities and calls of available-for-sale securities | 1,338 | 1,539 |
Maturities and calls of held-to-maturity securities | 656 | 573 |
Maturities and calls of other securities | 153 | 40 |
Sales of available-for-sale securities | 1,746 | 381 |
Purchases of available-for-sale securities | (3,174) | (1,044) |
Purchases of held-to-maturity securities | (516) | (71) |
Purchases of other securities | (5) | (5) |
Net proceeds from sales of portfolio loans | 670 | 461 |
Finance Lease, Principal Payments | 544 | 0 |
Net loan and lease activity, excluding sales and purchases | (1,162) | (3,583) |
Purchases of premises and equipment | (82) | (62) |
Purchases of loans and leases | (311) | (318) |
Other, net | 49 | 50 |
Net cash provided by (used in) investing activities | (763) | (1,977) |
Financing activities | ||
Increase (decrease) in deposits | (1,654) | 4,648 |
Increase (decrease) in short-term borrowings | (196) | 3,613 |
Net proceeds from issuance of long-term debt | 1,737 | 2,171 |
Maturity/redemption of long-term debt | (684) | (1,915) |
Dividends paid on preferred stock | (55) | (51) |
Dividends paid on common stock | (442) | (362) |
Repurchases of common stock | (245) | (739) |
Net proceeds from issuance of preferred stock | 0 | 495 |
Payments related to tax-withholding for share based compensation awards | (26) | (27) |
Proceeds from (Payments for) Other Financing Activities | 2 | 5 |
Net cash provided by (used for) financing activities | (1,171) | 612 |
Increase (decrease) in cash and cash equivalents | (1,036) | (221) |
Cash and cash equivalents at beginning of period | 2,672 | 1,520 |
Cash and cash equivalents at end of period | 1,636 | 1,299 |
Supplemental disclosures: | ||
Interest paid | 758 | 527 |
Income taxes paid (refunded) | 54 | (112) |
Non-cash activities | ||
Loans transferred to held-for-sale from portfolio | 744 | 470 |
Loans transferred to portfolio from held-for-sale | 14 | 49 |
Transfer of loans to OREO | 16 | 15 |
Transfer of securities from held-to-maturity to available-for-sale | 0 | (2,707) |
Transfer of securities from available-for-sale to held-to-maturity | $ 0 | $ 2,833 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
BASIS OF PRESENTATION | BASIS OF PRESENTATION The accompanying Unaudited Condensed Consolidated Financial Statements of Huntington reflect all adjustments consisting of normal recurring accruals which are, in the opinion of Management, necessary for a fair statement of the consolidated financial position, the results of operations, and cash flows for the periods presented. These Unaudited Condensed Consolidated Financial Statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements appearing in Huntington’s 2018 Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim financial statements. For statement of cash flow purposes, cash and cash equivalents are defined as the sum of Cash and due from banks and Interest-bearing deposits at Federal Reserve Bank. In conjunction with applicable accounting standards, all material subsequent events have been either recognized in the Unaudited Condensed Consolidated Financial Statements or disclosed in the Notes to Unaudited Condensed Consolidated Financial Statements. No subsequent events were disclosed for the current period. Certain amounts reported in prior periods have been reclassified to conform to the current period presentation. During the first quarter of 2019, Huntington reclassified loan syndication fees into capital markets fees from other noninterest income. There was no material effect on capital market fees or other noninterest income and no effect on net income as a result of this reclassification. |
ACCOUNTING STANDARDS UPDATE
ACCOUNTING STANDARDS UPDATE | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE Accounting standards adopted in current period Standard Summary of guidance Effects on financial statements ASU 2016-02 - Leases. Issued February 2016 - New lease accounting model for lessees and lessors. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is classified as an operating lease or a finance lease. - Accounting applied by a lessor is largely unchanged from that applied under previous guidance. - Requires additional qualitative and quantitative disclosures with the objective of enabling users of the financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. - Management adopted the guidance on January 1, 2019, and elected certain practical expedients offered by the FASB, including foregoing the restatement of comparative periods upon adoption. Management also excluded short-term leases from the recognition of right-of-use asset and lease liabilities. Additionally, Huntington elected the transition relief allowed by FASB in foregoing reassessment of the following: whether any existing contracts were or contained leases, the classification of existing leases, and the determination of initial direct costs for existing leases. - Huntington recognized right-of-use assets of approximately $200 million offset by lease liabilities of approximately $250 million upon adoption, representing substantially all of its operating lease commitments, with the difference attributable to transition adjustments required by ASC Topic 842 relating to previously recognized amounts for deferred rent and lease exit costs (recorded pursuant to ASC Topic 420). Right-of-use assets and lease liabilities were based, primarily, on the present value of unpaid future minimum lease payments. Additionally, the amounts were impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. Impact to the income statement was not material in the period of adoption. - Existing sale and leaseback guidance, including the detailed guidance applicable to sale-leasebacks of real estate, was replaced with a new model applicable to all assets, which will apply equally to both lessees and lessors. Under the new standard, if the transaction meets sale criteria, the seller-lessee will recognize the sale based on the new revenue recognition standard (when control transfers to the buyer-lessor), derecognizing the asset sold and replacing it with a right-of-use asset and lease liability for the leaseback. If the transaction is at fair value, the seller-lessee shall recognize a gain or loss on sale at that time. - Costs related to exiting an operating lease before the end of its contractual term have been historically accounted for pursuant to ASC Topic 420, with the recognition of a liability measured at the present value of remaining lease payments reduced by any expected sublease income upon the exit of that space. ASC Topic 842 changes the accounting for such costs, with entities evaluating the impairment of right-of-use assets using the guidance in ASC Topic 360. Such an impairment analysis would occur once the entity commits to a plan to abandon the space, which may accelerate the timing of these costs. - The new standard defines initial direct costs as those that would not have been incurred if the lease had not been obtained. Certain incremental costs previously eligible for capitalization, such as internal overhead, will now be expensed. Standard Summary of guidance Effects on financial statements ASU 2019-01 - Leases (ASC Topic 842): Codification Improvements Issued: March 2019 - Notes that lessors that are not manufacturers or dealers will apply the fair value exception in a manner similar to what they did prior to the implementation of ASC Topic 842. - Clarifies that lessors in the scope of ASC Topic 942 (Financial Services - Depository & Lending) must classify principal payments received from sales-type and direct financing leases in investing activities in the statement of cash flows. - Eliminates certain interim transition disclosure requirements related to the effect of an accounting change on certain interim period financial information. - The amendments relating to lessor accounting are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. - Huntington adopted the guidance concurrent with the adoption of ASU 2016-02 on January 1, 2019. The amendment did not have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. Accounting standards yet to be adopted Standard Summary of guidance Effects on financial statements ASU 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 model with an expected credit loss model. - Requires those financial assets subject to the new standard 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 collectibility of the reported amount. – The standard 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. - Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. - Adoption will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. - Management will adopt the guidance on January 1, 2020 and formed a working group in 2017 comprised of teams from different disciplines including credit, finance, and risk management that has evaluated the requirements of the new standard and the impact it will have on our processes, systems and controls. This group is in the later stages of implementing those identified process, system and control changes. - Huntington has completed the process of developing credit models with model implementation and validation substantially completed during the third quarter of 2019. In addition, management is in the later stages of implementing the accounting, reporting, and governance processes to comply with the new standard. - Based on the portfolio composition as of September 30, 2019, management estimates the adoption of CECL on January 1, 2020 could result in an overall allowance increase of 40% to 50% compared to current ACL levels. The estimated increase in the allowance is largely attributable to the consumer portfolio, given the longer asset duration associated with many of these products. It is important to note that this is still an estimated impact range. The final adoption impact will be heavily dependent on management's view of existing and forecasted economic conditions and also the composition of the portfolio at the date of adoption. – The standard eliminates 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 does not expect a material impact from PCD assets upon adoption. – Upon adoption, Huntington does not expect to record a material allowance with respect to HTM and AFS securities as the portfolios consist primarily of agency-backed securities that inherently have minimal nonpayment risk. ASU 2017-04 - Simplifying the Test for Goodwill Impairment. Issued January 2017 - Simplifies the goodwill impairment test by eliminating Step 2 of the goodwill impairment process, which requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities. - Entities will instead recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. - Entities will still have the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. - Effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. - The amendment is not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. Standard Summary of guidance Effects on financial statements ASU 2019-04 - Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Issued: April 2019 - Clarifies various implementation issues related to Recognition and Measurement of Financial Instruments (ASC Topic 825), Current Expected Credit Losses (ASC Topic 326) and Derivatives and Hedging (ASC Topic 815). - Provides additional implementation guidance on CECL issues that include, among others, (a) measurement of credit allowance on accrued interest; (b) treatment of credit allowance upon transfers between classifications or categories for loans and debt securities; (c) inclusion of recoveries in determining credit allowance amounts; (d) using projections of rate change for variable rate instruments; (e) vintage disclosures for lines-of-credit; (f) contractual extensions and renewals; (g) consideration of prepayments in calculating effective interest rate; and (h) consideration of costs to sell if the entity intends to sell the collateral when foreclosure is probable. - Clarifies for Topic 815, among others, that (a) only interest rate risk may be hedged in a partial-term fair value hedge; (b) amortization of fair value basis adjustment may begin before the fair value hedge is discontinued; (c) hedged AFS securities should be disclosed at amortized cost for disclosures related to hedged assets; and (d) contractually specified interest rate should be considered when applying hypothetical derivative method while assessing hedge effectiveness. - Clarifies for Topic 326, among others, that (a) using observable price under measurement alternative provided by ASC Topic 820 is a non-recurring fair value measurement and entities should adhere to non-recurring fair value disclosure requirements; and (b) equity securities without readily determinable fair value accounted for under measurement alternative should be remeasured using historical exchange rates. - Effective dates and transition requirements for amendments related to CECL (ASC Topic 326) are the same as effective dates and transition requirements for ASU 2016-13. - Amendments related to Derivatives and Hedging (ASC Topic 815) are effective as of the beginning of first annual period after the issuance date of the Update (ASU 2019-04). Earlier adoption is permitted, including adoption on any date on or after the issuance of the Update. - Amendment related to Recognition and Measurement of Financial Instruments (ASC Topic 825) should be applied on a modified-retrospective basis effective for fiscal years, including interim period within those fiscal years, beginning after December 15, 2019. Earlier adoption is permitted. - Amendments in the Update are not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief Issued: May 2019 - Provides entities that have certain instruments within the scope of ASC Subtopic 326-20 with an option to irrevocably elect fair value option, applied on instrument-by-instrument basis. The fair value option does not apply to held-to-maturity debt securities. - Effective dates for the amendment is the same as effective dates in ASU 2016-13. The amendment will be applied on a modified-retrospective basis. - The amendment is not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. |
LOANS _ LEASES AND ALLOWANCE FO
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES | LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES Loans and leases which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Unaudited Condensed 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 $490 million and $428 million at September 30, 2019 and December 31, 2018 , respectively. Loan and Lease Portfolio Composition The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, 2019 December 31, 2018 Loans and leases: Commercial and industrial $ 30,394 $ 30,605 Commercial real estate 6,855 6,842 Automobile 12,292 12,429 Home equity 9,300 9,722 Residential mortgage 11,247 10,728 RV and marine 3,553 3,254 Other consumer 1,251 1,320 Loans and leases $ 74,892 $ 74,900 Allowance for loan and lease losses (783 ) (772 ) Net loans and leases $ 74,109 $ 74,128 Equipment Leases Huntington 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. 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. Effective January 1, 2019, as a result of the implementation of ASU 2016-02, 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. The following table presents net investments in lease financing receivables by category at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, December 31, Commercial and industrial: Lease payments receivable $ 1,743 $ 1,747 Estimated residual value of leased assets 701 726 Gross investment in commercial and industrial lease financing receivables 2,444 2,473 Deferred origination costs 18 20 Deferred fees (245 ) (250 ) Total net investment in commercial and industrial lease financing receivables $ 2,217 $ 2,243 The carrying value of residual values guaranteed was $91 million as of September 30, 2019 . The future lease rental payments due from customers on sales-type and direct financing leases at September 30, 2019 , totaled $1.7 billion and were due as follows: $0.6 billion in 2020 , $0.5 billion in 2021 , $0.3 billion in 2022 , $0.1 billion in 2023 , $0.1 billion in 2024 , and less than $0.1 billion thereafter. Interest income recognized for these types of leases was $28 million and $81 million for the three-month and nine-month periods ended September 30, 2019 , respectively. 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. See Note 1 “Significant Accounting Policies” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of the accounting policies related to the NALs. The following table presents NALs by loan class at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, December 31, Commercial and industrial $ 291 $ 188 Commercial real estate 12 15 Automobile 5 5 Home equity 60 62 Residential mortgage 69 69 RV and marine 1 1 Other consumer — — Total nonaccrual loans $ 438 $ 340 The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class at September 30, 2019 and December 31, 2018 : September 30, 2019 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Commercial and industrial $ 69 $ 30 $ 70 $ 169 $ 30,225 $ — $ 30,394 $ 9 (2) Commercial real estate 9 — 7 16 6,839 — 6,855 — Automobile 79 18 10 107 12,185 — 12,292 8 Home equity 49 16 50 115 9,184 1 9,300 13 Residential mortgage 119 44 164 327 10,841 79 11,247 125 (3) RV and marine 11 3 2 16 3,537 — 3,553 1 Other consumer 13 6 7 26 1,225 — 1,251 7 Total loans and leases $ 349 $ 117 $ 310 $ 776 $ 74,036 $ 80 $ 74,892 $ 163 December 31, 2018 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Commercial and industrial $ 72 $ 17 $ 51 $ 140 $ 30,465 $ — $ 30,605 $ 7 (2) Commercial real estate 10 — 5 15 6,827 — 6,842 — Automobile 95 19 10 124 12,305 — 12,429 8 Home equity 51 21 56 128 9,593 1 9,722 17 Residential mortgage 108 47 168 323 10,327 78 10,728 131 (3) RV and marine 12 3 2 17 3,237 — 3,254 1 Other consumer 14 7 6 27 1,293 — 1,320 6 Total loans and leases $ 362 $ 114 $ 298 $ 774 $ 74,047 $ 79 $ 74,900 $ 170 (1) NALs are included in this aging analysis based on the loan's past due status. (2) Amounts include Huntington Technology Finance administrative lease delinquencies. (3) Amounts include mortgage loans insured by U.S. government agencies. Allowance for Credit Losses Huntington maintains two reserves, both of which reflect Management’s judgment regarding the appropriate level necessary to absorb probable and estimable credit losses inherent in our loan and lease portfolio as of the balance sheet date: the ALLL and the AULC. Combined, these reserves comprise the total ACL. The determination of the ACL requires significant estimates, including the timing and amounts of expected future cash flows on impaired loans and leases, consideration of current economic conditions, and historical loss experience pertaining to pools of homogeneous loans and leases, all of which may be susceptible to change. See Note 1 “Significant Accounting Policies” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of the accounting policies related to the ACL. The ALLL is increased through a provision for credit losses that is charged to earnings, based on Management’s quarterly evaluation and is reduced by charge-offs, net of recoveries. The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2019 and 2018 . (dollar amounts in millions) Commercial Consumer Total Three-month period ended September 30, 2019: ALLL balance, beginning of period $ 560 $ 214 $ 774 Loan charge-offs (53 ) (49 ) (102 ) Recoveries of loans previously charged-off 15 14 29 Provision for loan and lease losses 39 43 82 ALLL balance, end of period $ 561 $ 222 $ 783 AULC balance, beginning of period $ 99 $ 2 $ 101 Provision (reduction in allowance) for unfunded loan commitments and letters of credit — — — AULC balance, end of period $ 99 $ 2 $ 101 ACL balance, end of period $ 660 $ 224 $ 884 Nine-month period ended September 30, 2019: ALLL balance, beginning of period $ 542 $ 230 $ 772 Loan charge-offs (124 ) (145 ) (269 ) Recoveries of loans previously charged-off 35 42 77 Provision for loan and lease losses 108 95 203 ALLL balance, end of period $ 561 $ 222 $ 783 AULC balance, beginning of period $ 94 $ 2 $ 96 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 5 — 5 AULC balance, end of period $ 99 $ 2 $ 101 ACL balance, end of period $ 660 $ 224 $ 884 (dollar amounts in millions) Commercial Consumer Total Three-month period ended September 30, 2018: ALLL balance, beginning of period $ 531 $ 210 $ 741 Loan charge-offs (11 ) (47 ) (58 ) Recoveries of loans previously charged-off 15 14 29 Provision for loan and lease losses 8 41 49 ALLL balance, end of period $ 543 $ 218 $ 761 AULC balance, beginning of period $ 90 $ 3 $ 93 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 5 (1 ) 4 AULC balance, end of period $ 95 $ 2 $ 97 ACL balance, end of period $ 638 $ 220 $ 858 Nine-month period ended September 30, 2018: ALLL balance, beginning of period $ 482 $ 209 $ 691 Loan charge-offs (46 ) (138 ) (184 ) Recoveries of loans previously charged-off 45 44 89 Provision for loan and lease losses 62 103 165 ALLL balance, end of period $ 543 $ 218 $ 761 AULC balance, beginning of period $ 84 $ 3 $ 87 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 11 (1 ) 10 AULC balance, end of period $ 95 $ 2 $ 97 ACL balance, end of period $ 638 $ 220 $ 858 Credit Quality Indicators See Note 3 “Loans / Leases and Allowance for Credit Losses” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of the credit quality indicators Huntington utilizes for monitoring credit quality and for determining an appropriate ACL level. To facilitate the monitoring of credit quality for commercial loans, and for 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 by 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. The following table presents each loan and lease class by credit quality indicator at September 30, 2019 and December 31, 2018 . September 30, 2019 (dollar amounts in millions) Credit Risk Profile by UCS Classification Commercial Pass OLEM Substandard Doubtful Total Commercial and industrial $ 28,276 $ 657 $ 1,457 $ 4 $ 30,394 Commercial real estate 6,609 158 87 1 6,855 Credit Risk Profile by FICO Score (1), (2) Consumer 750+ 650-749 <650 Other (3) Total Automobile $ 6,257 $ 4,462 $ 1,328 $ 245 $ 12,292 Home equity 5,847 2,815 592 45 9,299 Residential mortgage 7,633 2,796 600 139 11,168 RV and marine 2,313 1,027 111 102 3,553 Other consumer 487 583 117 64 1,251 December 31, 2018 (dollar amounts in millions) Credit Risk Profile by UCS Classification Commercial Pass OLEM Substandard Doubtful Total Commercial and industrial $ 28,807 $ 518 $ 1,269 $ 11 $ 30,605 Commercial real estate 6,586 181 74 1 6,842 Credit Risk Profile by FICO Score (1), (2) Consumer 750+ 650-749 <650 Other (3) Total Automobile $ 6,254 $ 4,520 $ 1,373 $ 282 $ 12,429 Home equity 6,098 2,975 591 56 9,720 Residential mortgage 7,159 2,801 612 78 10,650 RV and marine 2,074 990 105 85 3,254 Other consumer 501 633 129 57 1,320 (1) Excludes loans accounted for under the fair value option. (2) Reflects updated customer credit scores. (3) Reflects deferred fees and costs, loans in process, etc. Impaired Loans See Note 1 “Significant Accounting Policies” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of accounting policies related to impaired loans. The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) Commercial Consumer Total ALLL at September 30, 2019 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 45 $ 7 $ 52 Attributable to loans collectively evaluated for impairment 516 215 731 Total ALLL balance $ 561 $ 222 $ 783 Loan and Lease Ending Balances at September 30, 2019 (1) Portion of loan and lease ending balance: Individually evaluated for impairment $ 574 $ 579 $ 1,153 Collectively evaluated for impairment 36,675 36,984 73,659 Total loans and leases evaluated for impairment $ 37,249 $ 37,563 $ 74,812 (dollar amounts in millions) Commercial Consumer Total ALLL at December 31, 2018 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 33 $ 10 $ 43 Attributable to loans collectively evaluated for impairment 509 220 729 Total ALLL balance: $ 542 $ 230 $ 772 Loan and Lease Ending Balances at December 31, 2018 (1) Portion of loan and lease ending balances: Individually evaluated for impairment 516 591 1,107 Collectively evaluated for impairment 36,931 36,783 73,714 Total loans and leases evaluated for impairment $ 37,447 $ 37,374 $ 74,821 (1) Excludes loans accounted for under the fair value option. The following tables present by class the ending balance, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized for impaired loans and leases: (1) September 30, 2019 Three Months Ended Nine Months Ended (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 205 $ 250 $ — $ 204 $ 4 $ 210 $ 16 Commercial real estate 31 33 — 30 2 34 6 With an allowance recorded: Commercial and industrial 314 344 43 322 3 298 8 Commercial real estate 24 27 2 29 — 32 1 Automobile 42 45 2 41 1 40 2 Home equity 292 329 9 297 3 305 10 Residential mortgage 290 326 3 287 3 287 8 RV and marine 4 4 — 3 — 3 — Other consumer 10 10 2 10 — 9 — Total Commercial and industrial (3) 519 594 43 526 7 508 24 Commercial real estate (4) 55 60 2 59 2 66 7 Automobile (2) 42 45 2 41 1 40 2 Home equity (5) 292 329 9 297 3 305 10 Residential mortgage (5) 290 326 3 287 3 287 8 RV and marine (2) 4 4 — 3 — 3 — Other consumer (2) 10 10 2 10 — 9 — December 31, 2018 Three Months Ended Nine Months Ended (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 224 $ 261 $ — $ 264 $ 5 $ 264 $ 16 Commercial real estate 36 45 — 36 2 49 6 With an allowance recorded: Commercial and industrial 221 240 31 284 3 285 9 Commercial real estate 35 39 2 49 1 48 2 Automobile 38 42 2 38 1 37 2 Home equity 314 356 10 326 3 330 11 Residential mortgage 287 323 4 290 3 299 8 RV and marine 2 3 — 2 — 2 — Other consumer 9 9 3 9 — 8 — Total Commercial and industrial (3) 445 501 31 548 8 549 25 Commercial real estate (4) 71 84 2 85 3 97 8 Automobile (2) 38 42 2 38 1 37 2 Home equity (5) 314 356 10 326 3 330 11 Residential mortgage (5) 287 323 4 290 3 299 8 RV and marine (2) 2 3 — 2 — 2 — Other consumer (2) 9 9 3 9 — 8 — (1) These tables do not include loans fully charged-off. (2) All automobile, RV and marine, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. (3) At September 30, 2019 and December 31, 2018 , C&I loans of $309 million and $366 million , respectively, were considered impaired due to their status as a TDR. (4) At September 30, 2019 and December 31, 2018 , CRE loans of $46 million and $60 million , respectively, were considered impaired due to their status as a TDR. (5) Includes home equity and residential mortgages considered impaired due to collateral dependent designation associated with their non-accrual status as well as home equity and mortgage loans considered impaired due to their status as a TDR. (6) The differences between the ending balance and unpaid principal balance amounts primarily represent partial charge-offs. (7) Impaired loans in the consumer portfolio are evaluated in pools and not at the loan level. Thus, these loans do not have an individually assigned allowance and as such are all classified as with an allowance in the tables above. TDR Loans TDRs are modified loans where a concession was provided to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided would not otherwise be considered. However, not all loan modifications are TDRs. See Note 3 “Loans / Leases and Allowance for Credit Losses” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for an additional discussion of TDRs. 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 three-month and nine-month periods ended September 30, 2019 and 2018 . New Troubled Debt Restructurings (1) Three Months Ended September 30, 2019 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 119 $ — $ 39 $ — $ — $ 39 Commercial real estate 7 — 1 — — 1 Automobile 833 — 5 2 — 7 Home equity 76 — 2 3 — 5 Residential mortgage 69 — 9 — — 9 RV and marine 46 — 1 — — 1 Other consumer 385 2 — — — 2 Total new TDRs 1,535 $ 2 $ 57 $ 5 $ — $ 64 Three Months Ended September 30, 2018 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 131 $ — $ 35 $ — $ — $ 35 Commercial real estate 9 — 5 — — 5 Automobile 848 — 4 3 — 7 Home equity 159 — 8 3 — 11 Residential mortgage 76 — 8 1 — 9 RV and marine 40 — — — — — Other consumer 386 2 — — — 2 Total new TDRs 1,649 $ 2 $ 60 $ 7 $ — $ 69 New Troubled Debt Restructurings (1) Nine Months Ended September 30, 2019 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 335 $ — $ 114 $ — $ — $ 114 Commercial real estate 21 — 12 — — 12 Automobile 2,227 — 14 6 — 20 Home equity 248 — 7 6 — 13 Residential mortgage 241 — 27 1 — 28 RV and marine finance 113 — 1 1 — 2 Other consumer 972 6 — — — 6 Total new TDRs 4,157 $ 6 $ 175 $ 14 $ — $ 195 Nine Months Ended September 30, 2018 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 641 $ — $ 302 $ — $ — $ 302 Commercial real estate 95 — 79 — — 79 Automobile 2,088 — 11 6 — 17 Home equity 472 — 21 8 — 29 Residential mortgage 278 — 29 2 — 31 RV and marine finance 99 — — 1 — 1 Other consumer 1,320 6 — — — 6 Total new TDRs 4,993 $ 6 $ 442 $ 17 $ — $ 465 (1) TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. (2) Post-modification balances approximate pre-modification balances. The financial effects of modification represent the impact on the provision (recovery) for loan and lease losses. Amounts for the three-month periods ended September 30, 2019 and 2018 , were $ 1 million and $(1) million , respectively. For the nine-month periods ended September 30, 2019 and 2018 , the financial effects of modification were $(1) million and $(11) million , respectively. Pledged Loans and Leases The Bank has access to the Federal Reserve’s discount window and advances from the FHLB. As of September 30, 2019 and December 31, 2018 , these borrowings and advances are secured by $38.2 billion and $46.5 billion , respectively, of loans and securities. |
INVESTMENT SECURITIES AND OTHER
INVESTMENT SECURITIES AND OTHER SECURITIES | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities Disclosure [Text Block] | INVESTMENT SECURITIES AND OTHER SECURITIES Debt securities purchased in which Huntington has the positive 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 September 30, 2019 and December 31, 2018 : Unrealized (dollar amounts in millions) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2019 Available-for-sale securities: U.S. Treasury $ 10 $ — $ — $ 10 Federal agencies: Residential CMO 6,668 71 (15 ) 6,724 Residential MBS 2,355 39 (1 ) 2,393 Commercial MBS 1,237 3 (1 ) 1,239 Other agencies 117 — — 117 Total U.S. Treasury, federal agency and other agency securities 10,387 113 (17 ) 10,483 Municipal securities 3,147 35 (30 ) 3,152 Asset-backed securities 588 8 (1 ) 595 Corporate debt 50 2 — 52 Other securities/Sovereign debt 4 — — 4 Total available-for-sale securities $ 14,176 $ 158 $ (48 ) $ 14,286 Held-to-maturity securities: Federal agencies: Residential CMO $ 1,970 $ 41 $ (3 ) $ 2,008 Residential MBS 2,065 45 — 2,110 Commercial MBS 4,075 66 — 4,141 Other agencies 316 5 — 321 Total federal agency and other agency securities 8,426 157 (3 ) 8,580 Municipal securities 4 — — 4 Total held-to-maturity securities $ 8,430 $ 157 $ (3 ) $ 8,584 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 104 $ — $ — $ 104 Federal Reserve Bank stock 297 — — 297 Other securities, at fair value Mutual funds 53 — — 53 Marketable equity securities 1 — — 1 Total other securities $ 455 $ — $ — $ 455 Unrealized (dollar amounts in millions) Amortized Gross Gross Fair Value December 31, 2018 Available-for-sale securities: U.S. Treasury $ 5 $ — $ — $ 5 Federal agencies: Residential CMO 7,185 15 (201 ) 6,999 Residential MBS 1,261 9 (15 ) 1,255 Commercial MBS 1,641 — (58 ) 1,583 Other agencies 128 — (2 ) 126 Total U.S. Treasury, federal agency and other agency securities 10,220 24 (276 ) 9,968 Municipal securities 3,512 6 (78 ) 3,440 Asset-backed securities 318 1 (4 ) 315 Corporate debt 54 — (1 ) 53 Other securities/Sovereign debt 4 — — 4 Total available-for-sale securities $ 14,108 $ 31 $ (359 ) $ 13,780 Held-to-maturity securities: Federal agencies: Residential CMO $ 2,124 $ — $ (47 ) $ 2,077 Residential MBS 1,851 2 (42 ) 1,811 Commercial MBS 4,235 — (186 ) 4,049 Other agencies 350 — (6 ) 344 Total federal agency and other agency securities 8,560 2 (281 ) 8,281 Municipal securities 5 — — 5 Total held-to-maturity securities $ 8,565 $ 2 $ (281 ) $ 8,286 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 248 $ — $ — $ 248 Federal Reserve Bank stock 295 — — 295 Other securities, at fair value Mutual funds 20 — — 20 Marketable equity securities 1 1 — 2 Total other securities $ 564 $ 1 $ — $ 565 The following table provides the amortized cost and fair value of securities by contractual maturity at September 30, 2019 and December 31, 2018 . Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties. September 30, 2019 December 31, 2018 (dollar amounts in millions) Amortized Cost Fair Value Amortized Cost Fair Value Available-for-sale securities: Under 1 year $ 294 $ 291 $ 186 $ 185 After 1 year through 5 years 1,084 1,074 1,057 1,039 After 5 years through 10 years 1,708 1,717 1,838 1,802 After 10 years 11,090 11,204 11,027 10,754 Total available-for-sale securities $ 14,176 $ 14,286 $ 14,108 $ 13,780 Held-to-maturity securities: Under 1 year $ — $ — $ — $ — After 1 year through 5 years 18 19 11 11 After 5 years through 10 years 329 335 362 356 After 10 years 8,083 8,230 8,192 7,919 Total held-to-maturity securities $ 8,430 $ 8,584 $ 8,565 $ 8,286 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 September 30, 2019 and December 31, 2018 : Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized September 30, 2019 Available-for-sale securities: Federal agencies: Residential CMO $ 1,287 $ (3 ) $ 1,207 $ (12 ) $ 2,494 $ (15 ) Residential MBS 353 (1 ) 9 — 362 (1 ) Commercial MBS 80 — 401 (1 ) 481 (1 ) Other agencies 1 — — — 1 — Total federal agency and other agency securities 1,721 (4 ) 1,617 (13 ) 3,338 (17 ) Municipal securities 403 (7 ) 1,238 (23 ) 1,641 (30 ) Asset-backed securities 68 — 93 (1 ) 161 (1 ) Corporate debt — — — — — — Total temporarily impaired securities $ 2,192 $ (11 ) $ 2,948 $ (37 ) $ 5,140 $ (48 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 160 $ (1 ) $ 119 $ (2 ) $ 279 $ (3 ) Residential MBS — — — — — — Commercial MBS — — 27 — 27 — Other agencies 5 — — — 5 — Total federal agency and other agency securities 165 (1 ) 146 (2 ) 311 (3 ) Municipal securities 4 — — — 4 — Total temporarily impaired securities $ 169 $ (1 ) $ 146 $ (2 ) $ 315 $ (3 ) Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized December 31, 2018 Available-for-sale securities: Federal agencies: Residential CMO $ 425 $ (3 ) $ 5,943 $ (198 ) $ 6,368 $ (201 ) Residential MBS 259 (6 ) 319 (9 ) 578 (15 ) Commercial MBS 10 — 1,573 (58 ) 1,583 (58 ) Other agencies — — 124 (2 ) 124 (2 ) Total federal agency and other agency securities 694 (9 ) 7,959 (267 ) 8,653 (276 ) Municipal securities 1,425 (24 ) 1,602 (54 ) 3,027 (78 ) Asset-backed securities 95 (2 ) 117 (2 ) 212 (4 ) Corporate debt 40 — 1 (1 ) 41 (1 ) Total temporarily impaired securities $ 2,254 $ (35 ) $ 9,679 $ (324 ) $ 11,933 $ (359 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 12 $ — $ 2,004 $ (47 ) $ 2,016 $ (47 ) Residential MBS 16 — 1,457 (42 ) 1,473 (42 ) Commercial MBS — — 4,041 (186 ) 4,041 (186 ) Other agencies 113 (2 ) 205 (4 ) 318 (6 ) Total federal agency and other agency securities 141 (2 ) 7,707 (279 ) 7,848 (281 ) Municipal securities — — 4 — 4 — Total temporarily impaired securities $ 141 $ (2 ) $ 7,711 $ (279 ) $ 7,852 $ (281 ) At September 30, 2019 and December 31, 2018 , 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 $3.8 billion and $4.5 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 September 30, 2019 or December 31, 2018 . The following table is a summary of realized securities gains and losses for the three-month and nine-month periods ended September 30, 2019 and 2018 , respectively. Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Gross gains on sales of securities $ — $ — $ 9 $ 6 Gross losses on sales of securities — (2 ) (11 ) (8 ) Net (loss) gain on sales of securities $ — $ (2 ) $ (2 ) $ (2 ) Security Impairment Huntington evaluates the securities portfolio for impairment on a quarterly basis. As of September 30, 2019 , the Company has evaluated available-for-sale and held-to-maturity securities with gross unrealized losses for impairment and concluded less than $1 million and no OTTI was required for the three-month periods ended September 30, 2019 and 2018, respectively, and less than $1 million and no OTTI was required for the nine-month periods ended September 30, 2019 and 2018, respectively. Other securities that are carried at cost are reviewed for impairment on a quarterly basis, with valuation adjustments recognized in other noninterest income. As of September 30, 2019 , the Company concluded no |
MORTGAGE LOAN SALES AND SERVICI
MORTGAGE LOAN SALES AND SERVICING RIGHTS | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | |
LOAN SALES AND SECURITIZATIONS | Residential Mortgage Portfolio The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Residential mortgage loans sold with servicing retained $ 1,238 $ 1,047 $ 3,025 $ 2,787 Pretax gains resulting from above loan sales (1) 26 24 61 64 (1) Recorded in mortgage banking income. The following table summarizes the changes in MSRs recorded using the amortization method for the three-month and nine-month periods ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Carrying value, beginning of period $ 184 $ 204 $ 211 $ 191 New servicing assets created 12 12 31 32 Impairment (charge) recovery (11 ) — (38 ) 7 Amortization (13 ) (8 ) (32 ) (22 ) Carrying value, end of period $ 172 $ 208 $ 172 $ 208 Fair value, end of period $ 172 $ 222 $ 172 $ 222 Weighted-average life (years) 4.9 7.1 4.9 7.1 MSRs 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. For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at September 30, 2019 , and December 31, 2018 follows: September 30, 2019 December 31, 2018 Decline in fair value due to Decline in fair value due to (dollar amounts in millions) Actual 10% 20% Actual 10% 20% Constant prepayment rate (annualized) 15.60 % $ (8 ) $ (15 ) 9.40 % $ (6 ) $ (12 ) Spread over forward interest rate swap rates 889 bps (5 ) (9 ) 934 bps (7 ) (13 ) Additionally, at September 30, 2019 and 2018 , Huntington held MSRs recorded using the fair value method of $8 million and $11 million , respectively. Total servicing, late fees and other ancillary fees included in mortgage banking income was $16 million and $15 million for the three-month periods ended September 30, 2019 and 2018 , respectively. For the nine-month periods ended September 30, 2019 and 2018 , total servicing, late fees and other ancillary fees included in mortgage banking income was $47 million and $44 million . The unpaid principal balance of residential mortgage loans serviced for third parties was $21.7 billion and $21.0 billion at September 30, 2019 and December 31, 2018 , respectively. |
OPERATING LEASES
OPERATING LEASES | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
OPERATING LEASES | At September 30, 2019 , Huntington was obligated under noncancelable leases for branch and office space. These leases are all classified as operating primarily 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. 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 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 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. Net lease assets and liabilities at September 30, 2019 are as follows: (dollar amounts in millions) Classification September 30, 2019 Assets Operating lease assets Other assets $ 200 Liabilities Lease liabilities Other liabilities $ 225 Net lease cost for the three-month and nine-month periods ended September 30, 2019 is as follows: (dollar amounts in millions) Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost Net occupancy $ 11 $ 34 Short term lease cost Net occupancy — 1 Sublease income Net occupancy (1 ) (2 ) Net lease cost $ 10 $ 33 Maturity of lease liabilities at September 30, 2019 are as follows : (dollar amounts in millions) Total Remainder of 2019 $ 10 2020 50 2021 39 2022 34 2023 29 Thereafter 105 Total lease payments $ 267 Less: Interest (42 ) Total lease liabilities $ 225 Lease term and discount rate as of September 30, 2019 are as follows: September 30, 2019 Weighted-average remaining lease term (years) Operating leases 7.41 Weighted-average discount rate Operating leases 4.67 % Cash flow supplemental information at September 30, 2019 are as follows: (dollar amounts in millions) Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ (41 ) Right-of-use assets obtained in exchange for lease obligations Operating leases 19 |
LONG-TERM DEBT
LONG-TERM DEBT | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT In January 2019, the Bank issued $300 million of senior notes at 100% of face value. The senior notes mature on February 5, 2021 and will bear interest at a rate per annum, reset quarterly, equal to the three-month LIBOR for U.S. dollar deposits plus 0.55%. The senior notes may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. In February 2019, the Bank issued $500 million of senior notes at 99.909% of face value. The senior notes mature on April 1, 2022 and have a fixed coupon rate of 3.125% . The senior notes may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. In August 2019, Huntington issued $800 million of senior notes at 99.781% of face value. The senior notes mature on August 6, 2024 and have a fixed coupon rate of 2.625% . The senior notes may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. |
OTHER COMPREHENSIVE INCOME
OTHER COMPREHENSIVE INCOME | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The components of Huntington's OCI for the three-month and nine-month periods ended September 30, 2019 and 2018 , were as follows: Three Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized gains (losses) on available-for-sale securities arising during the period $ 81 $ (18 ) $ 63 Less: Reclassification adjustment for realized net losses (gains) included in net income 8 (2 ) 6 Net change in unrealized holding gains (losses) on available-for-sale securities 89 (20 ) 69 Net change in fair value on cash flow hedges 36 (8 ) 28 Net change in pension and other post-retirement obligations 1 — 1 Total other comprehensive income (loss) $ 126 $ (28 ) $ 98 Three Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized gains (losses) on available-for-sale securities arising during the period $ (82 ) $ 18 $ (64 ) Less: Reclassification adjustment for realized net losses (gains) included in net income 3 (1 ) 2 Net change in unrealized gains (losses) on available-for-sale securities (79 ) 17 (62 ) Net change in pension and other post-retirement obligations 2 (1 ) 1 Total other comprehensive income (loss) $ (77 ) $ 16 $ (61 ) Nine Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized holding gains (losses) on available-for-sale securities arising during the period $ 428 $ (95 ) $ 333 Less: Reclassification adjustment for realized net losses (gains) included in net income 21 (5 ) 16 Net change in unrealized holding gains (losses) on available-for-sale securities 449 (100 ) 349 Net change in fair value on cash flow hedges 104 (22 ) 82 Net change in pension and other post-retirement obligations 3 — 3 Total other comprehensive income (loss) $ 556 $ (122 ) $ 434 Nine Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized holding gains (losses) on available-for-sale securities arising during the period $ (359 ) $ 78 $ (281 ) Less: Reclassification adjustment for realized net losses (gains) included in net income 21 (4 ) 17 Net change in unrealized holding gains (losses) on available-for-sale securities (338 ) 74 (264 ) Net change in pension and other post-retirement obligations 4 (1 ) 3 Total other comprehensive income (loss) $ (334 ) $ 73 $ (261 ) Activity in accumulated OCI for the three and nine month periods ended September 30, 2019 and 2018 , were as follows: (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Change in fair value related to cash flow hedges Unrealized gains (losses) for pension and other post- retirement obligations Total Three Months Ended September 30, 2019 Balance, beginning of period $ (83 ) $ 54 $ (244 ) $ (273 ) Other comprehensive income before reclassifications 63 28 — 91 Amounts reclassified from accumulated OCI to earnings 6 — 1 7 Period change 69 28 1 98 Balance, end of period $ (14 ) $ 82 $ (243 ) $ (175 ) Three Months Ended September 30, 2018 Balance, beginning of period $ (482 ) $ — $ (248 ) $ (730 ) Other comprehensive income before reclassifications (64 ) — — (64 ) Amounts reclassified from accumulated OCI to earnings 2 — 1 3 Period change (62 ) — 1 (61 ) Other 1 1 Balance, end of period $ (543 ) $ — $ (247 ) $ (790 ) (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Change in fair value related to cash flow hedges Unrealized gains (losses) for pension and other post- retirement obligations Total Nine Months Ended September 30, 2019 Balance, beginning of period $ (363 ) $ — $ (246 ) $ (609 ) Other comprehensive income before reclassifications 333 82 — 415 Amounts reclassified from accumulated OCI to earnings 16 — 3 19 Period change 349 82 3 434 Balance, end of period $ (14 ) $ 82 $ (243 ) $ (175 ) Nine Months Ended September 30, 2018 Balance, beginning of period $ (278 ) $ — $ (250 ) $ (528 ) Cumulative-effect adjustments (ASU 2016-01) (1 ) (1 ) Other comprehensive income before reclassifications (281 ) — — (281 ) Amounts reclassified from accumulated OCI to earnings 17 — 3 20 Period change (264 ) — 3 (261 ) Balance, end of period $ (543 ) $ — $ (247 ) $ (790 ) (1) AOCI amounts at September 30, 2019 , June 30, 2019 and September 30, 2018 include $126 million , $131 million and $141 million , respectively, of net 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. The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and nine-month periods ended September 30, 2019 and 2018 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Three Months Ended (dollar amounts in millions) September 30, 2019 September 30, 2018 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ (4 ) $ (3 ) Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities (4 ) — Noninterest income - net gains (losses) on sale of securities Total before tax (8 ) (3 ) Tax (expense) benefit 2 1 Net of tax $ (6 ) $ (2 ) Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (1 ) $ (2 ) Noninterest income Net periodic benefit costs — — Noninterest income Total before tax (1 ) (2 ) Tax (expense) benefit — 1 Net of tax $ (1 ) $ (1 ) Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Nine Months Ended (dollar amounts in millions) September 30, 2019 September 30, 2018 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ (11 ) $ (9 ) Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities (10 ) (12 ) Noninterest income - net gains (losses) on sale of securities Total before tax (21 ) (21 ) Tax (expense) benefit 5 4 Net of tax $ (16 ) $ (17 ) Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (4 ) $ (6 ) Noninterest income Net periodic benefit costs 1 2 Noninterest income Total before tax (3 ) (4 ) Tax (expense) benefit — 1 Net of tax $ (3 ) $ (3 ) |
EARNINGS PER SHARE
EARNINGS PER SHARE | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | EARNINGS PER SHARE Basic 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. For the nine months ended September 30, 2018 , total diluted average common shares issued and outstanding was impacted by using the if-converted method. The calculation of basic and diluted earnings per share for the three and nine -month periods ended September 30, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended (dollar amounts in millions, except per share data, share count in thousands) 2019 2018 2019 2018 Basic earnings per common share: Net income $ 372 $ 378 $ 1,094 $ 1,059 Preferred stock dividends (18 ) (18 ) (55 ) (51 ) Net income available to common shareholders $ 354 $ 360 $ 1,039 $ 1,008 Average common shares issued and outstanding 1,034,940 1,084,536 1,042,246 1,090,570 Basic earnings per common share $ 0.34 $ 0.33 $ 1.00 $ 0.92 Diluted earnings per common share: Dilutive potential common shares: Stock options and restricted stock units and awards 11,930 15,655 12,681 17,105 Shares held in deferred compensation plans 4,403 3,549 4,137 3,416 Dilutive impact of Preferred Stock — — — 5,887 Dilutive potential common shares 16,333 19,204 16,818 26,408 Total diluted average common shares issued and outstanding 1,051,273 1,103,740 1,059,064 1,116,978 Diluted earnings per common share $ 0.34 $ 0.33 $ 0.98 $ 0.90 Anti-dilutive awards (1) 6,253 1,616 4,900 2,035 (1) Reflects the total number of shares related to outstanding options that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive. |
NONINTEREST INCOME
NONINTEREST INCOME | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
NONINTEREST INCOME | 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 Unaudited Condensed 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. (dollar amounts in millions) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Noninterest income Noninterest income from contracts with customers $ 240 $ 222 $ 697 $ 654 Noninterest income within the scope of other GAAP topics 149 120 385 338 Total noninterest income $ 389 $ 342 $ 1,082 $ 992 The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 15 " Segment Reporting ". Three Months Ended September 30, 2019 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 79 $ 16 $ 2 $ 1 $ — $ 98 Card and payment processing income 56 4 — — — 60 Trust and investment management services 9 1 — 34 — 44 Insurance income 8 2 — 10 — 20 Other income 8 7 2 1 — 18 Net revenue from contracts with customers $ 160 $ 30 $ 4 $ 46 $ — $ 240 Noninterest income within the scope of other GAAP topics 63 71 — 1 14 149 Total noninterest income $ 223 $ 101 $ 4 $ 47 $ 14 $ 389 Three Months Ended September 30, 2018 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 75 $ 16 $ 1 $ 1 $ — $ 93 Card and payment processing income 50 3 — — — 53 Trust and investment management services 7 1 — 34 — 42 Insurance income 8 1 — 10 — 19 Other income 10 2 1 1 1 15 Net revenue from contracts with customers $ 150 $ 23 $ 2 $ 46 $ 1 $ 222 Noninterest income within the scope of other GAAP topics 44 58 1 — 17 120 Total noninterest income $ 194 $ 81 $ 3 $ 46 $ 18 $ 342 Nine Months Ended September 30, 2019 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 221 $ 48 $ 5 $ 3 $ — $ 277 Card and payment processing income 162 11 — — — 173 Trust and investment management services 25 2 — 103 1 131 Insurance income 25 5 — 33 1 64 Other income 24 17 4 5 2 52 Net revenue from contracts with customers $ 457 $ 83 $ 9 $ 144 $ 4 $ 697 Noninterest income within the scope of other GAAP topics 139 183 — 3 60 385 Total noninterest income $ 596 $ 266 $ 9 $ 147 $ 64 $ 1,082 Nine Months Ended September 30, 2018 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 215 $ 48 $ 4 $ 3 $ — $ 270 Card and payment processing income 146 8 — — — 154 Trust and investment management services 19 3 — 106 — 128 Insurance income 26 3 — 31 1 61 Other income 30 3 2 4 2 41 Net revenue from contracts with customers $ 436 $ 65 $ 6 $ 144 $ 3 $ 654 Noninterest income within the scope of other GAAP topics 121 169 3 2 43 338 Total noninterest income $ 557 $ 234 $ 9 $ 146 $ 46 $ 992 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 September 30, 2019 is expected to be earned within one year. |
FAIR VALUES OF ASSETS AND LIABI
FAIR VALUES OF ASSETS AND LIABILITIES | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUES OF ASSETS AND LIABILITIES | FAIR VALUES OF ASSETS AND LIABILITIES See Note 17 “Fair Value of Assets and Liabilities” to the Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2018 for a description of the valuation methodologies used for instruments measured at fair value. Assets and liabilities measured at fair value rarely transfer between Level 1 and Level 2 measurements. There were no such transfers during the three-month and nine-month periods ended September 30, 2019 and 2018 . Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018 are summarized below: Fair Value Measurements at Reporting Date Using Netting Adjustments (1) September 30, 2019 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Municipal securities $ — $ 89 $ — $ — $ 89 Other securities 29 — — — 29 29 89 — — 118 Available-for-sale securities: U.S. Treasury securities 10 — — — 10 Residential CMOs — 6,724 — — 6,724 Residential MBS — 2,393 — — 2,393 Commercial MBS — 1,239 — — 1,239 Other agencies — 117 — — 117 Municipal securities — 58 3,094 — 3,152 Asset-backed securities — 540 55 — 595 Corporate debt — 52 — — 52 Other securities/sovereign debt — 4 — — 4 10 11,127 3,149 — 14,286 Other securities 54 — — — 54 Loans held for sale — 963 — — 963 Loans held for investment — 53 27 — 80 MSRs — — 8 — 8 Derivative assets — 1,112 11 (546 ) 577 Liabilities Derivative liabilities — 628 3 (504 ) 127 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2018 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Municipal securities $ 1 $ 27 $ — $ — $ 28 Other securities 77 — — — 77 78 27 — — 105 Available-for-sale securities: U.S. Treasury securities 5 — — — 5 Residential CMOs — 6,999 — — 6,999 Residential MBS — 1,255 — — 1,255 Commercial MBS — 1,583 — — 1,583 Other agencies — 126 — — 126 Municipal securities — 275 3,165 — 3,440 Asset-backed securities — 315 — — 315 Corporate debt — 53 — — 53 Other securities/sovereign debt — 4 — — 4 5 10,610 3,165 — 13,780 Other securities 22 — — — 22 Loans held for sale — 613 — — 613 Loans held for investment — 49 30 — 79 MSRs — — 10 — 10 Derivative assets 21 474 5 (291 ) 209 Liabilities Derivative liabilities 11 390 3 (217 ) 187 (1) Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and cash collateral held or placed with the same counterparties. The tables below present a rollforward of the balance sheet amounts for the three-month and nine-month periods ended September 30, 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 Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset-backed securities Loans held for investment Opening balance $ 9 $ 9 $ 3,202 $ — $ 28 Transfers out of Level 3 (1) — (20 ) — — — Total gains/losses for the period: Included in earnings (1 ) 19 (1 ) — — Included in OCI — — 24 — — Purchases/originations — — 28 55 — Sales — — — — — Repayments — — — — (1 ) Settlements — — (159 ) — — Closing balance $ 8 $ 8 $ 3,094 $ 55 $ 27 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 ) $ (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 $ — $ — $ 23 $ — $ — Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Loans held for investment Opening balance $ 11 $ 1 $ 3,178 $ 34 Transfers out of Level 3 (1) — (12 ) — — Total gains/losses for the period: Included in earnings — 9 (1 ) — Included in OCI — — — — Purchases/originations — — 260 — Sales — — — — Repayments — — — (2 ) Settlements — 3 (160 ) — Closing balance $ 11 $ 1 $ 3,277 $ 32 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ — $ (3 ) $ — $ — Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset-backed securities Loans held for investment Opening balance $ 10 $ 2 $ 3,165 $ — $ 30 Transfers out of Level 3 (1) — (44 ) — — — Total gains/losses for the period: Included in earnings (2 ) 50 (1 ) — — Included in OCI — — 70 — — Purchases/originations — — 136 55 — Sales — — — — — Repayments — — — — (3 ) Settlements — — (276 ) — — Closing balance $ 8 $ 8 $ 3,094 $ 55 $ 27 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (2 ) $ 6 $ — $ — $ — 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 Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset- backed securities Loans held for investment Opening balance $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Transfers out of Level 3 (1) — (26 ) — — — Total gains/losses for the period: Included in earnings — 25 (3 ) (2 ) — Included in OCI — — (37 ) 11 — Purchases/originations — — 539 — — Sales — — — (33 ) — Repayments — — — — (6 ) Settlements — 3 (389 ) — — Closing balance $ 11 $ 1 $ 3,277 $ — $ 32 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ — $ (1 ) $ — $ — $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that is 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 three-month and nine-month periods ended September 30, 2019 and 2018 : Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ (1 ) $ 19 $ — Interest and fee income — — (1 ) Total $ (1 ) $ 19 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ — $ 9 $ — Other expense — — (1 ) Total $ — $ 9 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ (2 ) $ 50 $ — Interest and fee income — — (1 ) Total $ (2 ) $ 50 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset-backed securities Classification of gains and losses in earnings: Mortgage banking income $ — $ 25 $ — $ — Securities gains (losses) — — — (2 ) Other expense — — (3 ) — Total $ — $ 25 $ (3 ) $ (2 ) Assets and liabilities under the fair value option The following tables present the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: September 30, 2019 (dollar amounts in millions) Total Loans Loans that are 90 or more days past due Assets Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Loans held for sale $ 963 $ 932 $ 31 $ 1 $ 1 $ — Loans held for investment 80 86 (6 ) 4 6 (2 ) December 31, 2018 (dollar amounts in millions) Total Loans Loans that are 90 or more days past due Assets Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Loans held for sale $ 613 $ 594 $ 19 $ — $ — $ — Loans held for investment 79 87 (8 ) 6 7 (1 ) The following tables present the net gains (losses) from fair value changes for the three-month and nine-month periods ended September 30, 2019 and 2018 . Net gains (losses) from fair value changes Net gains (losses) from fair value changes (dollar amounts in millions) Three Months Ended September 30, Nine Months Ended September 30, Assets 2019 2018 2019 2018 Loans held for sale (1) $ 6 $ (4 ) $ 12 $ (1 ) (1) The net gains (losses) from fair value changes are included in Mortgage banking income on the Unaudited Condensed Consolidated Statements of Income. Assets and Liabilities measured at fair value on a nonrecurring basis Certain assets and liabilities may be required to be measured at fair value on a nonrecurring basis in periods subsequent to their initial recognition. These assets and liabilities are not measured at fair value on an ongoing basis; however, they are subject to fair value adjustments in certain circumstances, 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 September 30, 2019 were as follows: Fair Value Measurements Using (dollar amounts in millions) Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total MSRs $ 172 $ — $ — $ 172 $ (38 ) Impaired loans 20 — — 20 (1 ) Loans held for sale 36 — — 36 (13 ) MSRs accounted for under the amortization method are subject to nonrecurring fair value measurement when the fair value is lower than the carrying amount. Huntington records nonrecurring adjustments of collateral-dependent loans measured for impairment when establishing the ALLL. 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. 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 determined based on discounted cash flows or based on the fair value of the underlying collateral supporting the loan. Significant unobservable inputs for assets and liabilities measured at fair value on a recurring and nonrecurring basis The 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 September 30, 2019 and December 31, 2018 : Quantitative Information about Level 3 Fair Value Measurements at September 30, 2019 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 8 Discounted cash flow Constant prepayment rate 0 % - 25 % 9 % Spread over forward interest rate swap rates 5 % - 11 % 8 % Derivative assets 11 Consensus Pricing Net market price (2 )% - 14 % 2 % Estimated Pull through % 1 % - 100 % 90 % Derivative liabilities 3 Discounted cash flow Estimated conversion factor 162 % Estimated growth rate of Visa Class A shares 7 % Discount rate 2 % Timing of the resolution of the litigation 6/30/2020 Municipal securities 3,094 Discounted cash flow Discount rate 2 % - 3 % 2 % Asset-backed securities 55 Cumulative default 0 % - 64 % 4 % Loss given default 5 % - 80 % 24 % Loans held for investment 27 Discounted cash flow Discount rate 6 % - 6 % 6 % Constant prepayment rate 9 % - 12 % 9 % Measured at fair value on a nonrecurring basis: MSRs 172 Discounted cash flow Constant prepayment rate 12 % 33 % 16 % Spread over forward interest rate swap rates 5 % 11 % 9 % Impaired loans 20 Appraisal value NA NA Loans held for sale 36 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements at December 31, 2018 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 10 Discounted cash flow Constant prepayment rate 6 % - 54 % 8 % Spread over forward interest rate swap rates 5 % - 11 % 8 % Derivative assets 5 Consensus Pricing Net market price (5 )% - 23 % 2 % Estimated Pull through % 1 % - 100 % 92 % Derivative liabilities 3 Discounted cash flow Estimated conversion factor 163 % Estimated growth rate of Visa Class A shares 7 % Discount rate 4 % Timing of the resolution of the litigation 6/30/2020 Municipal securities 3,165 Discounted cash flow Discount rate 4 % - 4 % 4 % Cumulative default 0 % - 39 % 3 % Loss given default 5 % - 90 % 25 % Loans held for investment 30 Discounted cash flow Discount rate 7 % - 9 % 9 % Constant prepayment rate 9 % - 9 % 9 % Measured at fair value on a nonrecurring basis: Impaired loans 33 Appraisal value NA NA Loans held for sale 121 Discounted cash flow Discount rate 5 % - 6 % 5 % 24 Appraisal value NA NA 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. Fair values of financial instruments The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments at September 30, 2019 and December 31, 2018 : September 30, 2019 (dollar amounts in millions) Amortized Cost Lower of Cost or Market Fair Value or Fair Value Option Total Carrying Amount Estimated Fair Value Financial Assets Cash and short-term assets $ 1,758 $ — $ — $ 1,758 $ 1,758 Trading account securities — — 118 118 118 Available-for-sale securities — — 14,286 14,286 14,286 Held-to-maturity securities 8,430 — — 8,430 8,584 Other securities 401 — 54 455 455 Loans held for sale — 101 963 1,064 1,067 Net loans and leases (1) 74,029 — 80 74,109 75,234 Derivatives — — 577 577 577 Financial Liabilities Deposits 82,395 — — 82,395 82,398 Short-term borrowings 2,173 — — 2,173 2,173 Long-term debt 9,874 — — 9,874 10,075 Derivatives — — 127 127 127 December 31, 2018 (dollar amounts in millions) Amortized Cost Lower of Cost or Market Fair Value or Fair Value Option Total Carrying Amount Estimated Fair Value Financial Assets Cash and short-term assets $ 2,725 $ — $ — $ 2,725 $ 2,725 Trading account securities — — 105 105 105 Available-for-sale securities — — 13,780 13,780 13,780 Held-to-maturity securities 8,565 — — 8,565 8,286 Other securities 543 — 22 565 565 Loans held for sale — 191 613 804 806 Net loans and leases (1) 74,049 — 79 74,128 73,668 Derivatives — — 209 209 209 Financial Liabilities Deposits 84,774 — — 84,774 84,731 Short-term borrowings 2,017 — — 2,017 2,017 Long-term debt 8,625 — — 8,625 8,718 Derivatives — — 187 187 187 (1) Includes collateral-dependent loans measured for impairment. The following table presents the level in the fair value hierarchy for the estimated fair values at September 30, 2019 and December 31, 2018 : Estimated Fair Value Measurements at Reporting Date Using September 30, 2019 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 29 $ 89 $ — $ 118 Available-for-sale securities 10 11,127 3,149 14,286 Held-to-maturity securities — 8,584 — 8,584 Other securities (1) 54 — — 54 Loans held for sale — 963 104 1,067 Net loans and direct financing leases — 80 75,154 75,234 Financial Liabilities Deposits — 75,707 6,691 82,398 Short-term borrowings — — 2,173 2,173 Long-term debt — 9,435 640 10,075 Estimated Fair Value Measurements at Reporting Date Using December 31, 2018 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 78 $ 27 $ — $ 105 Available-for-sale securities 5 10,610 3,165 13,780 Held-to-maturity securities — 8,286 — 8,286 Other securities (1) 22 — — 22 Loans held for sale — 613 193 806 Net loans and direct financing leases — 49 73,619 73,668 Financial Liabilities Deposits — 76,922 7,809 84,731 Short-term borrowings 1 — 2,016 2,017 Long-term debt — 8,158 560 8,718 (1) 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 and nonmortgage 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. |
DERIVATIVE FINANCIAL INSTRUMENT
DERIVATIVE FINANCIAL INSTRUMENTS | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recorded in the Unaudited Condensed 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 same 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 of all derivative instruments included in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2019 and December 31, 2018 . Amounts in the table below are presented gross without the impact of any net collateral arrangements. September 30, 2019 December 31, 2018 (dollar amounts in millions) Asset Liability Asset Liability Derivatives designated as Hedging Instruments Interest rate contracts $ 376 $ 19 $ 44 $ 42 Derivatives not designated as Hedging Instruments Interest rate contracts 544 417 261 165 Foreign exchange contracts 22 20 23 19 Commodities contracts 178 172 172 168 Equity contracts 3 3 — 10 Total Contracts $ 1,123 $ 631 $ 500 $ 404 The following table presents the amount of gain or loss recognized in income for derivatives not designated as hedging instruments under ASC Subtopic 815-10 in the Unaudited Condensed Consolidated Income Statement for the three-month and nine-month periods ended September 30, 2019 and 2018 , respectively. Location of Gain or (Loss) Recognized in Income on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Interest rate contracts: Customer Capital markets fees $ 15 $ 11 $ 38 $ 30 Mortgage Banking Mortgage banking income 28 5 52 (3 ) Interest Rate Floors Other noninterest income (1 ) — 4 — Foreign exchange contracts Capital markets fees 7 6 22 18 Commodities contracts Capital markets fees 1 1 (3 ) 3 Equity contracts Other noninterest expense (2 ) — (3 ) 3 Total $ 48 $ 23 $ 110 $ 51 Derivatives used in asset and liability management activities Huntington engages in balance sheet hedging activity, principally for asset 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 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. The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at September 30, 2019 and December 31, 2018 , identified by the underlying interest rate-sensitive instruments. September 30, 2019 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Loans $ — $ 17,150 $ 17,150 Investment securities — 12 12 Long-term debt 7,540 — 7,540 Total notional value at September 30, 2019 $ 7,540 $ 17,162 $ 24,702 December 31, 2018 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Investment securities $ — $ 12 $ 12 Long-term debt 4,865 — 4,865 Total notional value at December 31, 2018 $ 4,865 $ 12 $ 4,877 The following table presents additional information about the interest rate swaps and floors used in Huntington’s asset and liability management activities at September 30, 2019 and December 31, 2018 . September 30, 2019 Weighted-Average Rate (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 8,287 3.5 $ 106 1.69 % 1.33 % Liability conversion swaps Receive fixed—generic 7,540 2.5 191 2.20 2.08 Total swap portfolio at September 30, 2019 $ 15,827 3.0 $ 297 1.93 % 1.69 % September 30, 2019 (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Interest rate floors Designated interest rate floors $ 8,875 1.6 $ 60 Total floors portfolio at September 30, 2019 $ 8,875 1.6 $ 60 December 31, 2018 Weighted-Average Rate (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 12 1.2 $ — 2.20 % 2.46 % Liability conversion swaps Receive fixed—generic 4,865 2.6 2 2.24 2.54 Total swap portfolio at December 31, 2018 $ 4,877 2.6 $ 2 2.24 % 2.54 % 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. The net amounts resulted in an increase (decrease) to net interest income of $(16) million and $(11) million for the three-month periods ended September 30, 2019 , and 2018 , respectively, and $(44) million and $(25) million for the nine-month periods ended September 30, 2019 , and 2018 , respectively. Fair Value Hedges The changes in fair value of the fair value hedges are recorded through earnings and offset against changes in the fair value of the hedged item. 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 three-month and nine-month periods ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Interest rate contracts Change in fair value of interest rate swaps hedging long-term debt (1) $ 36 $ (11 ) $ 165 $ 55 Change in fair value of hedged long term debt (1) (32 ) 12 (162 ) (49 ) (1) Recognized in Interest expense—long-term debt in the Unaudited Condensed Consolidated Statements of Income . As of September 30, 2019 and December 31, 2018 , the following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges. Carrying Amount of the Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment To Hedged Liabilities (dollar amounts in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Long-term debt $ 7,835 $ 4,845 $ 150 $ (12 ) The cumulative amount of fair value hedging adjustments remaining for any hedged assets and liabilities for which hedge accounting has been discontinued was $(104) million and $(127) million at September 30, 2019 and December 31, 2018 , respectively. Cash Flow Hedges During the first nine months of 2019, Huntington entered into $17.2 billion of interest rate floors and swaps. These are designated as cash flow hedges for variable rate commercial loans indexed to LIBOR. 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. Derivatives used in mortgage banking activities Mortgage loan origination hedging activity Huntington’s mortgage origination hedging activity is related to economically hedging Huntington's mortgage pricing commitments to customers and the secondary sale to third parties. The value of a newly originated mortgage is not firm until the interest rate is committed or locked. The net asset (liability) position of these derivatives at September 30, 2019 and December 31, 2018 are $14 million and $(4) million , respectively. At September 30, 2019 and December 31, 2018 , Huntington had commitments to sell residential real estate loans of $2.0 billion and $0.8 billion , respectively. These contracts mature in less than 1 year . MSR hedging activity Huntington’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, interest rate swaps, and options on interest rate swaps. The notional value of the derivative financial instruments, corresponding trading assets and liabilities, and net trading gains (losses) related to MSR hedging activity is summarized in the following table: (dollar amounts in millions) September 30, 2019 December 31, 2018 Notional value $ 572 $ — Trading assets 30 — Trading liabilities (1 ) — Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Trading gains (losses) $ 20 $ — $ 44 $ (8 ) MSR hedging trading assets and liabilities are included in other assets and other liabilities, respectively, in the Unaudited Condensed Balance Sheets. Trading gains (losses) are included in mortgage banking income in the Unaudited Condensed Consolidated Statement of Income. Derivatives used in customer related activities Various derivative financial instruments are offered to enable customers to meet their financing and investing objectives and for their risk management purposes. Derivative financial instruments used in trading activities consist of commodity, interest rate, and foreign exchange contracts. Huntington enters into offsetting third-party contracts with approved, reputable counterparties with substantially matching terms and currencies in order to economically hedge significant exposure related to derivatives used in trading activities. The interest rate or price risk of customer derivatives is mitigated by entering into similar derivatives having offsetting terms with other counterparties. The credit risk to these customers is evaluated and included in the calculation of fair value. 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 both September 30, 2019 and December 31, 2018 , were $87 million and $92 million , respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $30 billion and $26 billion at September 30, 2019 and December 31, 2018 , respectively. Huntington’s credit risk from customer derivatives was $515 million and $132 million at the same dates, respectively. Visa ® -related Swaps In connection with the sale of Huntington’s Class B Visa ® shares, Huntington entered into a swap agreement with the purchaser of the shares. The swap agreement adjusts for dilution in the conversion ratio of Class B shares resulting from changes in the Visa ® litigation. At September 30, 2019 , the fair value of the swap liabilities of $3 million is an estimate of the exposure liability based upon Huntington’s assessment of the potential Visa ® litigation losses and timing of the litigation settlement. Financial assets and liabilities that are offset in the Unaudited Condensed Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 11 " 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. 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. At September 30, 2019 and December 31, 2018 , aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $46 million and $37 million , respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. At September 30, 2019 , Huntington pledged $109 million of investment securities and cash collateral to counterparties, while other counterparties pledged $228 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2019 and December 31, 2018 . Offsetting of Financial Assets and Derivative Assets Gross amounts Net amounts of Gross amounts not offset in the (dollar amounts in millions) Gross amounts of recognized assets Financial instruments Cash collateral received Net amount September 30, 2019 Derivatives $ 1,123 $ (546 ) $ 577 $ (15 ) $ (31 ) $ 531 December 31, 2018 Derivatives 500 (291 ) 209 (4 ) (53 ) 152 Offsetting of Financial Liabilities and Derivative Liabilities Gross amounts offset in the unaudited condensed consolidated balance sheets Net amounts of liabilities presented in the unaudited condensed consolidated balance sheets Gross amounts not offset in the unaudited condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized liabilities Financial instruments Cash collateral delivered Net amount September 30, 2019 Derivatives $ 631 $ (504 ) $ 127 $ — $ (23 ) $ 104 December 31, 2018 Derivatives 404 (217 ) 187 — (12 ) 175 |
VIEs
VIEs | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
VIEs | VIEs Unconsolidated VIEs The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed 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, but is not the primary beneficiary, to the VIE at September 30, 2019 , and December 31, 2018 : September 30, 2019 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities $ 14 $ 252 $ — Affordable Housing Tax Credit Partnerships 714 338 714 Other Investments 157 64 157 Total $ 885 $ 654 $ 871 December 31, 2018 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities $ 14 $ 252 $ — Affordable Housing Tax Credit Partnerships 708 357 708 Other Investments 126 53 126 Total $ 848 $ 662 $ 834 Trust-Preferred Securities Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Unaudited Condensed Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Unaudited Condensed Consolidated Balance Sheet as long-term debt. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Unaudited Condensed Consolidated Financial Statements. A list of trust preferred securities outstanding at September 30, 2019 follows: (dollar amounts in millions) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 2.79 % (2) $ 70 $ 6 Huntington Capital II 2.71 (3) 32 3 Sky Financial Capital Trust III 3.49 (4) 72 2 Sky Financial Capital Trust IV 3.49 (4) 74 2 Camco Financial Trust 3.42 (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 September 30, 2019 , based on three-month LIBOR + 0.70% . (3) Variable effective rate at September 30, 2019 , based on three-month LIBOR + 0.625% . (4) Variable effective rate at September 30, 2019 , based on three-month LIBOR + 1.40% . (5) Variable effective rate at September 30, 2019 , 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 Partnerships Huntington makes certain equity investments in various limited partnerships that sponsor affordable housing projects utilizing the LIHTC pursuant to Section 42 of the Internal Revenue Code. The purpose of these investments is to achieve a satisfactory return on capital, to facilitate the sale of additional affordable housing product offerings, and to assist in achieving goals associated with the Community Reinvestment Act. The primary activities of the limited partnerships include the identification, development, and operation of multi-family housing that is leased to qualifying residential tenants. Generally, these types of investments are funded through a combination of debt and equity. Huntington uses the proportional amortization method to account for a majority of its investments in these entities. These investments are included in other assets. Investments that do not meet the requirements of the proportional amortization method are accounted for using the equity method. Investment losses related to these investments are included in noninterest income in the Unaudited Condensed Consolidated Statements of Income. The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, December 31, Affordable housing tax credit investments $ 1,219 $ 1,147 Less: amortization (505 ) (439 ) Net affordable housing tax credit investments $ 714 $ 708 Unfunded commitments $ 338 $ 357 The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and nine-month periods ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Tax credits and other tax benefits recognized $ 26 $ 24 $ 79 $ 70 Proportional amortization expense included in provision for income taxes 22 19 66 59 There were no material sales of affordable housing tax credit investments during the three-month and nine-month periods ended September 30, 2019 and 2018 . There was no impairment recognized for the three-month and nine-month periods ended September 30, 2019 and 2018 . Other VIE's Other VIE's include investments in Small Business Investment Companies, Historic Tax Credit Investments, certain equity method investments, renewable energy financings, automobile securitizations, and other miscellaneous investments. |
COMMITMENTS AND CONTINGENT LIAB
COMMITMENTS AND CONTINGENT LIABILITIES | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENT LIABILITIES | COMMITMENTS AND CONTINGENT LIABILITIES Commitments to extend credit In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at September 30, 2019 and December 31, 2018 , were as follows: (dollar amounts in millions) September 30, December 31, Contract amount representing credit risk Commitments to extend credit: Commercial $ 18,345 $ 17,149 Consumer 14,754 14,974 Commercial real estate 1,410 1,188 Standby letters of credit 624 676 Commercial letters-of-credit 10 14 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. 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 $10 million and $13 million at September 30, 2019 and December 31, 2018 , 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 The following supplements the disclosure in Note 20 - Commitments and Contingencies to the Consolidated Financial Statements of the Corporation’s 2018 Annual Report on Form 10-K and in Note 14 - Commitments and Contingencies to the Consolidated Financial Statements of the Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 (collectively, the prior commitments and contingencies disclosures). 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, what the timing of the ultimate resolution of these matters will be, or what the eventual loss, fines or penalties related to each matter may be. Huntington establishes an accrued liability when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. Huntington thereafter continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. For certain matters, Huntington is able to estimate a range of possible loss. In cases in which Huntington possesses information to estimate a range of possible loss, that estimate is aggregated and disclosed below. There may be other matters for which a loss is probable or reasonably possible but such an estimate of the range of possible loss may not be possible. For those matters where an estimate of the range of possible loss is possible, management currently estimates the aggregate range of possible loss is $0 to $20 million at September 30, 2019 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 and 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. |
SEGMENT REPORTING
SEGMENT REPORTING | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
SEGMENT REPORTING | 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 utilizes a full-allocation methodology, where all Treasury / Other expenses, except reported Significant Items, if any, and 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). During 2019, the Company updated and refined its FTP methodology primarily related to the allocation of deposit funding costs. Prior period amounts presented below have been restated to reflect the new methodology. 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 consumer and small business 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 six business units: Middle Market, Specialty Banking, Asset Finance, Capital Markets/Institutional Corporate Banking, Commercial Real Estate and Treasury Management. 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. Listed in the table below is certain operating basis financial information reconciled to Huntington’s September 30, 2019 , December 31, 2018 , and September 30, 2018 , reported results by business segment. Three Months Ended September 30, Income Statements Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated (dollar amounts in millions) 2019 Net interest income $ 433 $ 263 $ 100 $ 48 $ (45 ) $ 799 Provision (benefit) for credit losses 35 36 12 (1 ) — 82 Noninterest income 223 101 4 47 14 389 Noninterest expense 421 142 36 63 5 667 Provision (benefit) for income taxes 42 39 12 7 (33 ) 67 Net income (loss) $ 158 $ 147 $ 44 $ 26 $ (3 ) $ 372 2018 Net interest income $ 445 $ 259 $ 97 $ 51 $ (50 ) $ 802 Provision (benefit) for credit losses 41 (1 ) 13 — — 53 Noninterest income 194 81 3 46 18 342 Noninterest expense 424 121 35 60 11 651 Provision (benefit) for income taxes 38 46 11 6 (39 ) 62 Net income (loss) $ 136 $ 174 $ 41 $ 31 $ (4 ) $ 378 Nine Months Ended September 30, Income Statements Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated (dollar amounts in millions) 2019 Net interest income $ 1,371 $ 798 $ 291 $ 153 $ (180 ) $ 2,433 Provision (benefit) for credit losses 81 103 27 (3 ) — 208 Noninterest income 596 266 9 147 64 1,082 Noninterest expense 1,247 427 112 193 41 2,020 Provision (benefit) for income taxes 134 113 33 23 (110 ) 193 Net income (loss) $ 505 $ 421 $ 128 $ 87 $ (47 ) $ 1,094 2018 Net interest income $ 1,254 $ 744 $ 294 $ 148 $ (84 ) $ 2,356 Provision (benefit) for credit losses 98 41 36 — — 175 Noninterest income 557 234 9 146 46 992 Noninterest expense 1,263 364 106 180 23 1,936 Provision (benefit) for income taxes 95 120 34 24 (95 ) 178 Net income (loss) $ 355 $ 453 $ 127 $ 90 $ 34 $ 1,059 Assets at Deposits at (dollar amounts in millions) September 30, December 31, September 30, December 31, Consumer & Business Banking $ 25,418 $ 27,486 $ 51,671 $ 50,300 Commercial Banking 34,368 34,818 21,088 23,185 Vehicle Finance 19,414 19,435 363 346 RBHPCG 6,593 6,540 6,101 6,809 Treasury / Other 22,942 20,502 3,172 4,134 Total $ 108,735 $ 108,781 $ 82,395 $ 84,774 |
ACCOUNTING STANDARDS UPDATE (Po
ACCOUNTING STANDARDS UPDATE (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
ACCOUNTING STANDARDS UPDATE | ACCOUNTING STANDARDS UPDATE Accounting standards adopted in current period Standard Summary of guidance Effects on financial statements ASU 2016-02 - Leases. Issued February 2016 - New lease accounting model for lessees and lessors. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is classified as an operating lease or a finance lease. - Accounting applied by a lessor is largely unchanged from that applied under previous guidance. - Requires additional qualitative and quantitative disclosures with the objective of enabling users of the financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. - Management adopted the guidance on January 1, 2019, and elected certain practical expedients offered by the FASB, including foregoing the restatement of comparative periods upon adoption. Management also excluded short-term leases from the recognition of right-of-use asset and lease liabilities. Additionally, Huntington elected the transition relief allowed by FASB in foregoing reassessment of the following: whether any existing contracts were or contained leases, the classification of existing leases, and the determination of initial direct costs for existing leases. - Huntington recognized right-of-use assets of approximately $200 million offset by lease liabilities of approximately $250 million upon adoption, representing substantially all of its operating lease commitments, with the difference attributable to transition adjustments required by ASC Topic 842 relating to previously recognized amounts for deferred rent and lease exit costs (recorded pursuant to ASC Topic 420). Right-of-use assets and lease liabilities were based, primarily, on the present value of unpaid future minimum lease payments. Additionally, the amounts were impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. Impact to the income statement was not material in the period of adoption. - Existing sale and leaseback guidance, including the detailed guidance applicable to sale-leasebacks of real estate, was replaced with a new model applicable to all assets, which will apply equally to both lessees and lessors. Under the new standard, if the transaction meets sale criteria, the seller-lessee will recognize the sale based on the new revenue recognition standard (when control transfers to the buyer-lessor), derecognizing the asset sold and replacing it with a right-of-use asset and lease liability for the leaseback. If the transaction is at fair value, the seller-lessee shall recognize a gain or loss on sale at that time. - Costs related to exiting an operating lease before the end of its contractual term have been historically accounted for pursuant to ASC Topic 420, with the recognition of a liability measured at the present value of remaining lease payments reduced by any expected sublease income upon the exit of that space. ASC Topic 842 changes the accounting for such costs, with entities evaluating the impairment of right-of-use assets using the guidance in ASC Topic 360. Such an impairment analysis would occur once the entity commits to a plan to abandon the space, which may accelerate the timing of these costs. - The new standard defines initial direct costs as those that would not have been incurred if the lease had not been obtained. Certain incremental costs previously eligible for capitalization, such as internal overhead, will now be expensed. Standard Summary of guidance Effects on financial statements ASU 2019-01 - Leases (ASC Topic 842): Codification Improvements Issued: March 2019 - Notes that lessors that are not manufacturers or dealers will apply the fair value exception in a manner similar to what they did prior to the implementation of ASC Topic 842. - Clarifies that lessors in the scope of ASC Topic 942 (Financial Services - Depository & Lending) must classify principal payments received from sales-type and direct financing leases in investing activities in the statement of cash flows. - Eliminates certain interim transition disclosure requirements related to the effect of an accounting change on certain interim period financial information. - The amendments relating to lessor accounting are effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. - Huntington adopted the guidance concurrent with the adoption of ASU 2016-02 on January 1, 2019. The amendment did not have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. Accounting standards yet to be adopted Standard Summary of guidance Effects on financial statements ASU 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 model with an expected credit loss model. - Requires those financial assets subject to the new standard 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 collectibility of the reported amount. – The standard 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. - Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. - Adoption will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. - Management will adopt the guidance on January 1, 2020 and formed a working group in 2017 comprised of teams from different disciplines including credit, finance, and risk management that has evaluated the requirements of the new standard and the impact it will have on our processes, systems and controls. This group is in the later stages of implementing those identified process, system and control changes. - Huntington has completed the process of developing credit models with model implementation and validation substantially completed during the third quarter of 2019. In addition, management is in the later stages of implementing the accounting, reporting, and governance processes to comply with the new standard. - Based on the portfolio composition as of September 30, 2019, management estimates the adoption of CECL on January 1, 2020 could result in an overall allowance increase of 40% to 50% compared to current ACL levels. The estimated increase in the allowance is largely attributable to the consumer portfolio, given the longer asset duration associated with many of these products. It is important to note that this is still an estimated impact range. The final adoption impact will be heavily dependent on management's view of existing and forecasted economic conditions and also the composition of the portfolio at the date of adoption. – The standard eliminates 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 does not expect a material impact from PCD assets upon adoption. – Upon adoption, Huntington does not expect to record a material allowance with respect to HTM and AFS securities as the portfolios consist primarily of agency-backed securities that inherently have minimal nonpayment risk. ASU 2017-04 - Simplifying the Test for Goodwill Impairment. Issued January 2017 - Simplifies the goodwill impairment test by eliminating Step 2 of the goodwill impairment process, which requires an entity to determine the implied fair value of its goodwill by assigning fair value to all its assets and liabilities. - Entities will instead recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. - Entities will still have the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. - Effective for annual and interim goodwill tests performed in fiscal years beginning after December 15, 2019. Early adoption is permitted. - The amendment is not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. Standard Summary of guidance Effects on financial statements ASU 2019-04 - Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments Issued: April 2019 - Clarifies various implementation issues related to Recognition and Measurement of Financial Instruments (ASC Topic 825), Current Expected Credit Losses (ASC Topic 326) and Derivatives and Hedging (ASC Topic 815). - Provides additional implementation guidance on CECL issues that include, among others, (a) measurement of credit allowance on accrued interest; (b) treatment of credit allowance upon transfers between classifications or categories for loans and debt securities; (c) inclusion of recoveries in determining credit allowance amounts; (d) using projections of rate change for variable rate instruments; (e) vintage disclosures for lines-of-credit; (f) contractual extensions and renewals; (g) consideration of prepayments in calculating effective interest rate; and (h) consideration of costs to sell if the entity intends to sell the collateral when foreclosure is probable. - Clarifies for Topic 815, among others, that (a) only interest rate risk may be hedged in a partial-term fair value hedge; (b) amortization of fair value basis adjustment may begin before the fair value hedge is discontinued; (c) hedged AFS securities should be disclosed at amortized cost for disclosures related to hedged assets; and (d) contractually specified interest rate should be considered when applying hypothetical derivative method while assessing hedge effectiveness. - Clarifies for Topic 326, among others, that (a) using observable price under measurement alternative provided by ASC Topic 820 is a non-recurring fair value measurement and entities should adhere to non-recurring fair value disclosure requirements; and (b) equity securities without readily determinable fair value accounted for under measurement alternative should be remeasured using historical exchange rates. - Effective dates and transition requirements for amendments related to CECL (ASC Topic 326) are the same as effective dates and transition requirements for ASU 2016-13. - Amendments related to Derivatives and Hedging (ASC Topic 815) are effective as of the beginning of first annual period after the issuance date of the Update (ASU 2019-04). Earlier adoption is permitted, including adoption on any date on or after the issuance of the Update. - Amendment related to Recognition and Measurement of Financial Instruments (ASC Topic 825) should be applied on a modified-retrospective basis effective for fiscal years, including interim period within those fiscal years, beginning after December 15, 2019. Earlier adoption is permitted. - Amendments in the Update are not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. ASU 2019-05 - Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief Issued: May 2019 - Provides entities that have certain instruments within the scope of ASC Subtopic 326-20 with an option to irrevocably elect fair value option, applied on instrument-by-instrument basis. The fair value option does not apply to held-to-maturity debt securities. - Effective dates for the amendment is the same as effective dates in ASU 2016-13. The amendment will be applied on a modified-retrospective basis. - The amendment is not expected to have a material impact on Huntington's Unaudited Condensed Consolidated Financial Statements. |
LOANS _ LEASES AND ALLOWANCE _2
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Receivables [Abstract] | |
Loan and Lease Portfolio | The following table provides a detailed listing of Huntington’s loan and lease portfolio at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, 2019 December 31, 2018 Loans and leases: Commercial and industrial $ 30,394 $ 30,605 Commercial real estate 6,855 6,842 Automobile 12,292 12,429 Home equity 9,300 9,722 Residential mortgage 11,247 10,728 RV and marine 3,553 3,254 Other consumer 1,251 1,320 Loans and leases $ 74,892 $ 74,900 Allowance for loan and lease losses (783 ) (772 ) Net loans and leases $ 74,109 $ 74,128 |
NALs and Past Due Loans | The following table presents NALs by loan class at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, December 31, Commercial and industrial $ 291 $ 188 Commercial real estate 12 15 Automobile 5 5 Home equity 60 62 Residential mortgage 69 69 RV and marine 1 1 Other consumer — — Total nonaccrual loans $ 438 $ 340 |
Aging analysis of loans and leases | The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class at September 30, 2019 and December 31, 2018 : September 30, 2019 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Commercial and industrial $ 69 $ 30 $ 70 $ 169 $ 30,225 $ — $ 30,394 $ 9 (2) Commercial real estate 9 — 7 16 6,839 — 6,855 — Automobile 79 18 10 107 12,185 — 12,292 8 Home equity 49 16 50 115 9,184 1 9,300 13 Residential mortgage 119 44 164 327 10,841 79 11,247 125 (3) RV and marine 11 3 2 16 3,537 — 3,553 1 Other consumer 13 6 7 26 1,225 — 1,251 7 Total loans and leases $ 349 $ 117 $ 310 $ 776 $ 74,036 $ 80 $ 74,892 $ 163 December 31, 2018 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Commercial and industrial $ 72 $ 17 $ 51 $ 140 $ 30,465 $ — $ 30,605 $ 7 (2) Commercial real estate 10 — 5 15 6,827 — 6,842 — Automobile 95 19 10 124 12,305 — 12,429 8 Home equity 51 21 56 128 9,593 1 9,722 17 Residential mortgage 108 47 168 323 10,327 78 10,728 131 (3) RV and marine 12 3 2 17 3,237 — 3,254 1 Other consumer 14 7 6 27 1,293 — 1,320 6 Total loans and leases $ 362 $ 114 $ 298 $ 774 $ 74,047 $ 79 $ 74,900 $ 170 (1) NALs are included in this aging analysis based on the loan's past due status. (2) Amounts include Huntington Technology Finance administrative lease delinquencies. (3) Amounts include mortgage loans insured by U.S. government agencies. |
ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the three-month and nine-month periods ended September 30, 2019 and 2018 . (dollar amounts in millions) Commercial Consumer Total Three-month period ended September 30, 2019: ALLL balance, beginning of period $ 560 $ 214 $ 774 Loan charge-offs (53 ) (49 ) (102 ) Recoveries of loans previously charged-off 15 14 29 Provision for loan and lease losses 39 43 82 ALLL balance, end of period $ 561 $ 222 $ 783 AULC balance, beginning of period $ 99 $ 2 $ 101 Provision (reduction in allowance) for unfunded loan commitments and letters of credit — — — AULC balance, end of period $ 99 $ 2 $ 101 ACL balance, end of period $ 660 $ 224 $ 884 Nine-month period ended September 30, 2019: ALLL balance, beginning of period $ 542 $ 230 $ 772 Loan charge-offs (124 ) (145 ) (269 ) Recoveries of loans previously charged-off 35 42 77 Provision for loan and lease losses 108 95 203 ALLL balance, end of period $ 561 $ 222 $ 783 AULC balance, beginning of period $ 94 $ 2 $ 96 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 5 — 5 AULC balance, end of period $ 99 $ 2 $ 101 ACL balance, end of period $ 660 $ 224 $ 884 (dollar amounts in millions) Commercial Consumer Total Three-month period ended September 30, 2018: ALLL balance, beginning of period $ 531 $ 210 $ 741 Loan charge-offs (11 ) (47 ) (58 ) Recoveries of loans previously charged-off 15 14 29 Provision for loan and lease losses 8 41 49 ALLL balance, end of period $ 543 $ 218 $ 761 AULC balance, beginning of period $ 90 $ 3 $ 93 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 5 (1 ) 4 AULC balance, end of period $ 95 $ 2 $ 97 ACL balance, end of period $ 638 $ 220 $ 858 Nine-month period ended September 30, 2018: ALLL balance, beginning of period $ 482 $ 209 $ 691 Loan charge-offs (46 ) (138 ) (184 ) Recoveries of loans previously charged-off 45 44 89 Provision for loan and lease losses 62 103 165 ALLL balance, end of period $ 543 $ 218 $ 761 AULC balance, beginning of period $ 84 $ 3 $ 87 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 11 (1 ) 10 AULC balance, end of period $ 95 $ 2 $ 97 ACL balance, end of period $ 638 $ 220 $ 858 |
Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at September 30, 2019 and December 31, 2018 . September 30, 2019 (dollar amounts in millions) Credit Risk Profile by UCS Classification Commercial Pass OLEM Substandard Doubtful Total Commercial and industrial $ 28,276 $ 657 $ 1,457 $ 4 $ 30,394 Commercial real estate 6,609 158 87 1 6,855 Credit Risk Profile by FICO Score (1), (2) Consumer 750+ 650-749 <650 Other (3) Total Automobile $ 6,257 $ 4,462 $ 1,328 $ 245 $ 12,292 Home equity 5,847 2,815 592 45 9,299 Residential mortgage 7,633 2,796 600 139 11,168 RV and marine 2,313 1,027 111 102 3,553 Other consumer 487 583 117 64 1,251 December 31, 2018 (dollar amounts in millions) Credit Risk Profile by UCS Classification Commercial Pass OLEM Substandard Doubtful Total Commercial and industrial $ 28,807 $ 518 $ 1,269 $ 11 $ 30,605 Commercial real estate 6,586 181 74 1 6,842 Credit Risk Profile by FICO Score (1), (2) Consumer 750+ 650-749 <650 Other (3) Total Automobile $ 6,254 $ 4,520 $ 1,373 $ 282 $ 12,429 Home equity 6,098 2,975 591 56 9,720 Residential mortgage 7,159 2,801 612 78 10,650 RV and marine 2,074 990 105 85 3,254 Other consumer 501 633 129 57 1,320 (1) Excludes loans accounted for under the fair value option. (2) Reflects updated customer credit scores. (3) Reflects deferred fees and costs, loans in process, etc. |
Summarized data for impaired loans and the related ALLL by portfolio segment | The following tables present the balance of the ALLL attributable to loans by portfolio segment individually and collectively evaluated for impairment and the related loan and lease balance at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) Commercial Consumer Total ALLL at September 30, 2019 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 45 $ 7 $ 52 Attributable to loans collectively evaluated for impairment 516 215 731 Total ALLL balance $ 561 $ 222 $ 783 Loan and Lease Ending Balances at September 30, 2019 (1) Portion of loan and lease ending balance: Individually evaluated for impairment $ 574 $ 579 $ 1,153 Collectively evaluated for impairment 36,675 36,984 73,659 Total loans and leases evaluated for impairment $ 37,249 $ 37,563 $ 74,812 (dollar amounts in millions) Commercial Consumer Total ALLL at December 31, 2018 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 33 $ 10 $ 43 Attributable to loans collectively evaluated for impairment 509 220 729 Total ALLL balance: $ 542 $ 230 $ 772 Loan and Lease Ending Balances at December 31, 2018 (1) Portion of loan and lease ending balances: Individually evaluated for impairment 516 591 1,107 Collectively evaluated for impairment 36,931 36,783 73,714 Total loans and leases evaluated for impairment $ 37,447 $ 37,374 $ 74,821 (1) Excludes loans accounted for under the fair value option. |
Detailed impaired loan information by class | The following tables present by class the ending balance, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized for impaired loans and leases: (1) September 30, 2019 Three Months Ended Nine Months Ended (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 205 $ 250 $ — $ 204 $ 4 $ 210 $ 16 Commercial real estate 31 33 — 30 2 34 6 With an allowance recorded: Commercial and industrial 314 344 43 322 3 298 8 Commercial real estate 24 27 2 29 — 32 1 Automobile 42 45 2 41 1 40 2 Home equity 292 329 9 297 3 305 10 Residential mortgage 290 326 3 287 3 287 8 RV and marine 4 4 — 3 — 3 — Other consumer 10 10 2 10 — 9 — Total Commercial and industrial (3) 519 594 43 526 7 508 24 Commercial real estate (4) 55 60 2 59 2 66 7 Automobile (2) 42 45 2 41 1 40 2 Home equity (5) 292 329 9 297 3 305 10 Residential mortgage (5) 290 326 3 287 3 287 8 RV and marine (2) 4 4 — 3 — 3 — Other consumer (2) 10 10 2 10 — 9 — December 31, 2018 Three Months Ended Nine Months Ended (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 224 $ 261 $ — $ 264 $ 5 $ 264 $ 16 Commercial real estate 36 45 — 36 2 49 6 With an allowance recorded: Commercial and industrial 221 240 31 284 3 285 9 Commercial real estate 35 39 2 49 1 48 2 Automobile 38 42 2 38 1 37 2 Home equity 314 356 10 326 3 330 11 Residential mortgage 287 323 4 290 3 299 8 RV and marine 2 3 — 2 — 2 — Other consumer 9 9 3 9 — 8 — Total Commercial and industrial (3) 445 501 31 548 8 549 25 Commercial real estate (4) 71 84 2 85 3 97 8 Automobile (2) 38 42 2 38 1 37 2 Home equity (5) 314 356 10 326 3 330 11 Residential mortgage (5) 287 323 4 290 3 299 8 RV and marine (2) 2 3 — 2 — 2 — Other consumer (2) 9 9 3 9 — 8 — (1) These tables do not include loans fully charged-off. (2) All automobile, RV and marine, and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. (3) At September 30, 2019 and December 31, 2018 , C&I loans of $309 million and $366 million , respectively, were considered impaired due to their status as a TDR. (4) At September 30, 2019 and December 31, 2018 , CRE loans of $46 million and $60 million , respectively, were considered impaired due to their status as a TDR. (5) Includes home equity and residential mortgages considered impaired due to collateral dependent designation associated with their non-accrual status as well as home equity and mortgage loans considered impaired due to their status as a TDR. (6) The differences between the ending balance and unpaid principal balance amounts primarily represent partial charge-offs. (7) Impaired loans in the consumer portfolio are evaluated in pools and not at the loan level. Thus, these loans do not have an individually assigned allowance and as such are all classified as with an allowance in the tables above. |
Detailed troubled debt restructuring information by class | 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 three-month and nine-month periods ended September 30, 2019 and 2018 . New Troubled Debt Restructurings (1) Three Months Ended September 30, 2019 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 119 $ — $ 39 $ — $ — $ 39 Commercial real estate 7 — 1 — — 1 Automobile 833 — 5 2 — 7 Home equity 76 — 2 3 — 5 Residential mortgage 69 — 9 — — 9 RV and marine 46 — 1 — — 1 Other consumer 385 2 — — — 2 Total new TDRs 1,535 $ 2 $ 57 $ 5 $ — $ 64 Three Months Ended September 30, 2018 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 131 $ — $ 35 $ — $ — $ 35 Commercial real estate 9 — 5 — — 5 Automobile 848 — 4 3 — 7 Home equity 159 — 8 3 — 11 Residential mortgage 76 — 8 1 — 9 RV and marine 40 — — — — — Other consumer 386 2 — — — 2 Total new TDRs 1,649 $ 2 $ 60 $ 7 $ — $ 69 New Troubled Debt Restructurings (1) Nine Months Ended September 30, 2019 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 335 $ — $ 114 $ — $ — $ 114 Commercial real estate 21 — 12 — — 12 Automobile 2,227 — 14 6 — 20 Home equity 248 — 7 6 — 13 Residential mortgage 241 — 27 1 — 28 RV and marine finance 113 — 1 1 — 2 Other consumer 972 6 — — — 6 Total new TDRs 4,157 $ 6 $ 175 $ 14 $ — $ 195 Nine Months Ended September 30, 2018 Number of Post-modification Outstanding Recorded Investment (2) (dollar amounts in millions) Interest rate reduction Amortization or maturity date change Chapter 7 bankruptcy Other Total Commercial and industrial 641 $ — $ 302 $ — $ — $ 302 Commercial real estate 95 — 79 — — 79 Automobile 2,088 — 11 6 — 17 Home equity 472 — 21 8 — 29 Residential mortgage 278 — 29 2 — 31 RV and marine finance 99 — — 1 — 1 Other consumer 1,320 6 — — — 6 Total new TDRs 4,993 $ 6 $ 442 $ 17 $ — $ 465 (1) TDRs may include multiple concessions and the disclosure classifications are based on the primary concession provided to the borrower. (2) Post-modification balances approximate pre-modification balances. The financial effects of modification represent the impact on the provision (recovery) for loan and lease losses. Amounts for the three-month periods ended September 30, 2019 and 2018 , were $ 1 million and $(1) million , respectively. For the nine-month periods ended September 30, 2019 and 2018 , the financial effects of modification were $(1) million and $(11) million , respectively. |
INVESTMENT SECURITIES AND OTH_2
INVESTMENT SECURITIES AND OTHER SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Gain (Loss) on Securities [Table Text Block] | The following table is a summary of realized securities gains and losses for the three-month and nine-month periods ended September 30, 2019 and 2018 , respectively. Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Gross gains on sales of securities $ — $ — $ 9 $ 6 Gross losses on sales of securities — (2 ) (11 ) (8 ) Net (loss) gain on sales of securities $ — $ (2 ) $ (2 ) $ (2 ) |
Unrealized Gain (Loss) on Investments [Table Text Block] | The following tables provide amortized cost, fair value, and gross unrealized gains and losses by investment category at September 30, 2019 and December 31, 2018 : Unrealized (dollar amounts in millions) Amortized Cost Gross Gains Gross Losses Fair Value September 30, 2019 Available-for-sale securities: U.S. Treasury $ 10 $ — $ — $ 10 Federal agencies: Residential CMO 6,668 71 (15 ) 6,724 Residential MBS 2,355 39 (1 ) 2,393 Commercial MBS 1,237 3 (1 ) 1,239 Other agencies 117 — — 117 Total U.S. Treasury, federal agency and other agency securities 10,387 113 (17 ) 10,483 Municipal securities 3,147 35 (30 ) 3,152 Asset-backed securities 588 8 (1 ) 595 Corporate debt 50 2 — 52 Other securities/Sovereign debt 4 — — 4 Total available-for-sale securities $ 14,176 $ 158 $ (48 ) $ 14,286 Held-to-maturity securities: Federal agencies: Residential CMO $ 1,970 $ 41 $ (3 ) $ 2,008 Residential MBS 2,065 45 — 2,110 Commercial MBS 4,075 66 — 4,141 Other agencies 316 5 — 321 Total federal agency and other agency securities 8,426 157 (3 ) 8,580 Municipal securities 4 — — 4 Total held-to-maturity securities $ 8,430 $ 157 $ (3 ) $ 8,584 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 104 $ — $ — $ 104 Federal Reserve Bank stock 297 — — 297 Other securities, at fair value Mutual funds 53 — — 53 Marketable equity securities 1 — — 1 Total other securities $ 455 $ — $ — $ 455 Unrealized (dollar amounts in millions) Amortized Gross Gross Fair Value December 31, 2018 Available-for-sale securities: U.S. Treasury $ 5 $ — $ — $ 5 Federal agencies: Residential CMO 7,185 15 (201 ) 6,999 Residential MBS 1,261 9 (15 ) 1,255 Commercial MBS 1,641 — (58 ) 1,583 Other agencies 128 — (2 ) 126 Total U.S. Treasury, federal agency and other agency securities 10,220 24 (276 ) 9,968 Municipal securities 3,512 6 (78 ) 3,440 Asset-backed securities 318 1 (4 ) 315 Corporate debt 54 — (1 ) 53 Other securities/Sovereign debt 4 — — 4 Total available-for-sale securities $ 14,108 $ 31 $ (359 ) $ 13,780 Held-to-maturity securities: Federal agencies: Residential CMO $ 2,124 $ — $ (47 ) $ 2,077 Residential MBS 1,851 2 (42 ) 1,811 Commercial MBS 4,235 — (186 ) 4,049 Other agencies 350 — (6 ) 344 Total federal agency and other agency securities 8,560 2 (281 ) 8,281 Municipal securities 5 — — 5 Total held-to-maturity securities $ 8,565 $ 2 $ (281 ) $ 8,286 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 248 $ — $ — $ 248 Federal Reserve Bank stock 295 — — 295 Other securities, at fair value Mutual funds 20 — — 20 Marketable equity securities 1 1 — 2 Total other securities $ 564 $ 1 $ — $ 565 |
Investments Classified by Contractual Maturity Date [Table Text Block] | The following table provides the amortized cost and fair value of securities by contractual maturity at September 30, 2019 and December 31, 2018 . Expected maturities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without incurring penalties. September 30, 2019 December 31, 2018 (dollar amounts in millions) Amortized Cost Fair Value Amortized Cost Fair Value Available-for-sale securities: Under 1 year $ 294 $ 291 $ 186 $ 185 After 1 year through 5 years 1,084 1,074 1,057 1,039 After 5 years through 10 years 1,708 1,717 1,838 1,802 After 10 years 11,090 11,204 11,027 10,754 Total available-for-sale securities $ 14,176 $ 14,286 $ 14,108 $ 13,780 Held-to-maturity securities: Under 1 year $ — $ — $ — $ — After 1 year through 5 years 18 19 11 11 After 5 years through 10 years 329 335 362 356 After 10 years 8,083 8,230 8,192 7,919 Total held-to-maturity securities $ 8,430 $ 8,584 $ 8,565 $ 8,286 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2019 December 31, 2018 (dollar amounts in millions) Amortized Cost Fair Value Amortized Cost Fair Value Available-for-sale securities: Under 1 year $ 294 $ 291 $ 186 $ 185 After 1 year through 5 years 1,084 1,074 1,057 1,039 After 5 years through 10 years 1,708 1,717 1,838 1,802 After 10 years 11,090 11,204 11,027 10,754 Total available-for-sale securities $ 14,176 $ 14,286 $ 14,108 $ 13,780 Held-to-maturity securities: Under 1 year $ — $ — $ — $ — After 1 year through 5 years 18 19 11 11 After 5 years through 10 years 329 335 362 356 After 10 years 8,083 8,230 8,192 7,919 Total held-to-maturity securities $ 8,430 $ 8,584 $ 8,565 $ 8,286 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 September 30, 2019 and December 31, 2018 : Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized September 30, 2019 Available-for-sale securities: Federal agencies: Residential CMO $ 1,287 $ (3 ) $ 1,207 $ (12 ) $ 2,494 $ (15 ) Residential MBS 353 (1 ) 9 — 362 (1 ) Commercial MBS 80 — 401 (1 ) 481 (1 ) Other agencies 1 — — — 1 — Total federal agency and other agency securities 1,721 (4 ) 1,617 (13 ) 3,338 (17 ) Municipal securities 403 (7 ) 1,238 (23 ) 1,641 (30 ) Asset-backed securities 68 — 93 (1 ) 161 (1 ) Corporate debt — — — — — — Total temporarily impaired securities $ 2,192 $ (11 ) $ 2,948 $ (37 ) $ 5,140 $ (48 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 160 $ (1 ) $ 119 $ (2 ) $ 279 $ (3 ) Residential MBS — — — — — — Commercial MBS — — 27 — 27 — Other agencies 5 — — — 5 — Total federal agency and other agency securities 165 (1 ) 146 (2 ) 311 (3 ) Municipal securities 4 — — — 4 — Total temporarily impaired securities $ 169 $ (1 ) $ 146 $ (2 ) $ 315 $ (3 ) Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized December 31, 2018 Available-for-sale securities: Federal agencies: Residential CMO $ 425 $ (3 ) $ 5,943 $ (198 ) $ 6,368 $ (201 ) Residential MBS 259 (6 ) 319 (9 ) 578 (15 ) Commercial MBS 10 — 1,573 (58 ) 1,583 (58 ) Other agencies — — 124 (2 ) 124 (2 ) Total federal agency and other agency securities 694 (9 ) 7,959 (267 ) 8,653 (276 ) Municipal securities 1,425 (24 ) 1,602 (54 ) 3,027 (78 ) Asset-backed securities 95 (2 ) 117 (2 ) 212 (4 ) Corporate debt 40 — 1 (1 ) 41 (1 ) Total temporarily impaired securities $ 2,254 $ (35 ) $ 9,679 $ (324 ) $ 11,933 $ (359 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 12 $ — $ 2,004 $ (47 ) $ 2,016 $ (47 ) Residential MBS 16 — 1,457 (42 ) 1,473 (42 ) Commercial MBS — — 4,041 (186 ) 4,041 (186 ) Other agencies 113 (2 ) 205 (4 ) 318 (6 ) Total federal agency and other agency securities 141 (2 ) 7,707 (279 ) 7,848 (281 ) Municipal securities — — 4 — 4 — Total temporarily impaired securities $ 141 $ (2 ) $ 7,711 $ (279 ) $ 7,852 $ (281 ) |
MORTGAGE LOAN SALES AND SERVI_2
MORTGAGE LOAN SALES AND SERVICING RIGHTS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Transfers and Servicing [Abstract] | |
Summarizes activity relating to loans securitized sold with servicing retained | The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the three-month and nine-month periods ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Residential mortgage loans sold with servicing retained $ 1,238 $ 1,047 $ 3,025 $ 2,787 Pretax gains resulting from above loan sales (1) 26 24 61 64 (1) Recorded in mortgage banking income. |
Summarizes activity relating to loans sold with servicing retained using the amortization method | The following table summarizes the changes in MSRs recorded using the amortization method for the three-month and nine-month periods ended September 30, 2019 and 2018 : Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Carrying value, beginning of period $ 184 $ 204 $ 211 $ 191 New servicing assets created 12 12 31 32 Impairment (charge) recovery (11 ) — (38 ) 7 Amortization (13 ) (8 ) (32 ) (22 ) Carrying value, end of period $ 172 $ 208 $ 172 $ 208 Fair value, end of period $ 172 $ 222 $ 172 $ 222 Weighted-average life (years) 4.9 7.1 4.9 7.1 |
Summary of key assumptions and the sensitivity of the servicing rights value to changes in the assumptions | For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at September 30, 2019 , and December 31, 2018 follows: September 30, 2019 December 31, 2018 Decline in fair value due to Decline in fair value due to (dollar amounts in millions) Actual 10% 20% Actual 10% 20% Constant prepayment rate (annualized) 15.60 % $ (8 ) $ (15 ) 9.40 % $ (6 ) $ (12 ) Spread over forward interest rate swap rates 889 bps (5 ) (9 ) 934 bps (7 ) (13 ) |
OPERATING LEASES (Tables)
OPERATING LEASES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Assets And Liabilities, Lessee | Net lease assets and liabilities at September 30, 2019 are as follows: (dollar amounts in millions) Classification September 30, 2019 Assets Operating lease assets Other assets $ 200 Liabilities Lease liabilities Other liabilities $ 225 |
Lease, Cost | Lease term and discount rate as of September 30, 2019 are as follows: September 30, 2019 Weighted-average remaining lease term (years) Operating leases 7.41 Weighted-average discount rate Operating leases 4.67 % Net lease cost for the three-month and nine-month periods ended September 30, 2019 is as follows: (dollar amounts in millions) Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost Net occupancy $ 11 $ 34 Short term lease cost Net occupancy — 1 Sublease income Net occupancy (1 ) (2 ) Net lease cost $ 10 $ 33 Cash flow supplemental information at September 30, 2019 are as follows: (dollar amounts in millions) Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ (41 ) Right-of-use assets obtained in exchange for lease obligations Operating leases 19 |
Lessee, Operating Lease, Liability, Maturity | Maturity of lease liabilities at September 30, 2019 are as follows : (dollar amounts in millions) Total Remainder of 2019 $ 10 2020 50 2021 39 2022 34 2023 29 Thereafter 105 Total lease payments $ 267 Less: Interest (42 ) Total lease liabilities $ 225 |
OTHER COMPREHENSIVE INCOME (Tab
OTHER COMPREHENSIVE INCOME (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Components of other comprehensive income | The components of Huntington's OCI for the three-month and nine-month periods ended September 30, 2019 and 2018 , were as follows: Three Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized gains (losses) on available-for-sale securities arising during the period $ 81 $ (18 ) $ 63 Less: Reclassification adjustment for realized net losses (gains) included in net income 8 (2 ) 6 Net change in unrealized holding gains (losses) on available-for-sale securities 89 (20 ) 69 Net change in fair value on cash flow hedges 36 (8 ) 28 Net change in pension and other post-retirement obligations 1 — 1 Total other comprehensive income (loss) $ 126 $ (28 ) $ 98 Three Months Ended Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized gains (losses) on available-for-sale securities arising during the period $ (82 ) $ 18 $ (64 ) Less: Reclassification adjustment for realized net losses (gains) included in net income 3 (1 ) 2 Net change in unrealized gains (losses) on available-for-sale securities (79 ) 17 (62 ) Net change in pension and other post-retirement obligations 2 (1 ) 1 Total other comprehensive income (loss) $ (77 ) $ 16 $ (61 ) |
Activity in accumulated other comprehensive income, net of tax | Activity in accumulated OCI for the three and nine month periods ended September 30, 2019 and 2018 , were as follows: (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Change in fair value related to cash flow hedges Unrealized gains (losses) for pension and other post- retirement obligations Total Three Months Ended September 30, 2019 Balance, beginning of period $ (83 ) $ 54 $ (244 ) $ (273 ) Other comprehensive income before reclassifications 63 28 — 91 Amounts reclassified from accumulated OCI to earnings 6 — 1 7 Period change 69 28 1 98 Balance, end of period $ (14 ) $ 82 $ (243 ) $ (175 ) Three Months Ended September 30, 2018 Balance, beginning of period $ (482 ) $ — $ (248 ) $ (730 ) Other comprehensive income before reclassifications (64 ) — — (64 ) Amounts reclassified from accumulated OCI to earnings 2 — 1 3 Period change (62 ) — 1 (61 ) Other 1 1 Balance, end of period $ (543 ) $ — $ (247 ) $ (790 ) (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Change in fair value related to cash flow hedges Unrealized gains (losses) for pension and other post- retirement obligations Total Nine Months Ended September 30, 2019 Balance, beginning of period $ (363 ) $ — $ (246 ) $ (609 ) Other comprehensive income before reclassifications 333 82 — 415 Amounts reclassified from accumulated OCI to earnings 16 — 3 19 Period change 349 82 3 434 Balance, end of period $ (14 ) $ 82 $ (243 ) $ (175 ) Nine Months Ended September 30, 2018 Balance, beginning of period $ (278 ) $ — $ (250 ) $ (528 ) Cumulative-effect adjustments (ASU 2016-01) (1 ) (1 ) Other comprehensive income before reclassifications (281 ) — — (281 ) Amounts reclassified from accumulated OCI to earnings 17 — 3 20 Period change (264 ) — 3 (261 ) Balance, end of period $ (543 ) $ — $ (247 ) $ (790 ) (1) AOCI amounts at September 30, 2019 , June 30, 2019 and September 30, 2018 include $126 million , $131 million and $141 million , respectively, of net 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. |
Reclassification Out Of Accumulated OCI | The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and nine-month periods ended September 30, 2019 and 2018 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Three Months Ended (dollar amounts in millions) September 30, 2019 September 30, 2018 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ (4 ) $ (3 ) Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities (4 ) — Noninterest income - net gains (losses) on sale of securities Total before tax (8 ) (3 ) Tax (expense) benefit 2 1 Net of tax $ (6 ) $ (2 ) Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (1 ) $ (2 ) Noninterest income Net periodic benefit costs — — Noninterest income Total before tax (1 ) (2 ) Tax (expense) benefit — 1 Net of tax $ (1 ) $ (1 ) Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings Nine Months Ended (dollar amounts in millions) September 30, 2019 September 30, 2018 Gains (losses) on debt securities: Amortization of unrealized gains (losses) $ (11 ) $ (9 ) Interest income - held-to-maturity securities - taxable Realized gain (loss) on sale of securities (10 ) (12 ) Noninterest income - net gains (losses) on sale of securities Total before tax (21 ) (21 ) Tax (expense) benefit 5 4 Net of tax $ (16 ) $ (17 ) Amortization of defined benefit pension and post-retirement items: Actuarial gains (losses) $ (4 ) $ (6 ) Noninterest income Net periodic benefit costs 1 2 Noninterest income Total before tax (3 ) (4 ) Tax (expense) benefit — 1 Net of tax $ (3 ) $ (3 ) |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for the three and nine -month periods ended September 30, 2019 and 2018 was as follows: Three Months Ended Nine Months Ended (dollar amounts in millions, except per share data, share count in thousands) 2019 2018 2019 2018 Basic earnings per common share: Net income $ 372 $ 378 $ 1,094 $ 1,059 Preferred stock dividends (18 ) (18 ) (55 ) (51 ) Net income available to common shareholders $ 354 $ 360 $ 1,039 $ 1,008 Average common shares issued and outstanding 1,034,940 1,084,536 1,042,246 1,090,570 Basic earnings per common share $ 0.34 $ 0.33 $ 1.00 $ 0.92 Diluted earnings per common share: Dilutive potential common shares: Stock options and restricted stock units and awards 11,930 15,655 12,681 17,105 Shares held in deferred compensation plans 4,403 3,549 4,137 3,416 Dilutive impact of Preferred Stock — — — 5,887 Dilutive potential common shares 16,333 19,204 16,818 26,408 Total diluted average common shares issued and outstanding 1,051,273 1,103,740 1,059,064 1,116,978 Diluted earnings per common share $ 0.34 $ 0.33 $ 0.98 $ 0.90 Anti-dilutive awards (1) 6,253 1,616 4,900 2,035 |
NONINTEREST INCOME (Tables)
NONINTEREST INCOME (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | |
Schedule of Noninterest Income | The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 15 " Segment Reporting ". Three Months Ended September 30, 2019 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 79 $ 16 $ 2 $ 1 $ — $ 98 Card and payment processing income 56 4 — — — 60 Trust and investment management services 9 1 — 34 — 44 Insurance income 8 2 — 10 — 20 Other income 8 7 2 1 — 18 Net revenue from contracts with customers $ 160 $ 30 $ 4 $ 46 $ — $ 240 Noninterest income within the scope of other GAAP topics 63 71 — 1 14 149 Total noninterest income $ 223 $ 101 $ 4 $ 47 $ 14 $ 389 Three Months Ended September 30, 2018 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 75 $ 16 $ 1 $ 1 $ — $ 93 Card and payment processing income 50 3 — — — 53 Trust and investment management services 7 1 — 34 — 42 Insurance income 8 1 — 10 — 19 Other income 10 2 1 1 1 15 Net revenue from contracts with customers $ 150 $ 23 $ 2 $ 46 $ 1 $ 222 Noninterest income within the scope of other GAAP topics 44 58 1 — 17 120 Total noninterest income $ 194 $ 81 $ 3 $ 46 $ 18 $ 342 Nine Months Ended September 30, 2019 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 221 $ 48 $ 5 $ 3 $ — $ 277 Card and payment processing income 162 11 — — — 173 Trust and investment management services 25 2 — 103 1 131 Insurance income 25 5 — 33 1 64 Other income 24 17 4 5 2 52 Net revenue from contracts with customers $ 457 $ 83 $ 9 $ 144 $ 4 $ 697 Noninterest income within the scope of other GAAP topics 139 183 — 3 60 385 Total noninterest income $ 596 $ 266 $ 9 $ 147 $ 64 $ 1,082 Nine Months Ended September 30, 2018 (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Major Revenue Streams Service charges on deposit accounts $ 215 $ 48 $ 4 $ 3 $ — $ 270 Card and payment processing income 146 8 — — — 154 Trust and investment management services 19 3 — 106 — 128 Insurance income 26 3 — 31 1 61 Other income 30 3 2 4 2 41 Net revenue from contracts with customers $ 436 $ 65 $ 6 $ 144 $ 3 $ 654 Noninterest income within the scope of other GAAP topics 121 169 3 2 43 338 Total noninterest income $ 557 $ 234 $ 9 $ 146 $ 46 $ 992 (dollar amounts in millions) Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Noninterest income Noninterest income from contracts with customers $ 240 $ 222 $ 697 $ 654 Noninterest income within the scope of other GAAP topics 149 120 385 338 Total noninterest income $ 389 $ 342 $ 1,082 $ 992 |
FAIR VALUES OF ASSETS AND LIA_2
FAIR VALUES OF ASSETS AND LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and liabilities measured at fair value on a recurring basis | Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at September 30, 2019 and December 31, 2018 are summarized below: Fair Value Measurements at Reporting Date Using Netting Adjustments (1) September 30, 2019 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Municipal securities $ — $ 89 $ — $ — $ 89 Other securities 29 — — — 29 29 89 — — 118 Available-for-sale securities: U.S. Treasury securities 10 — — — 10 Residential CMOs — 6,724 — — 6,724 Residential MBS — 2,393 — — 2,393 Commercial MBS — 1,239 — — 1,239 Other agencies — 117 — — 117 Municipal securities — 58 3,094 — 3,152 Asset-backed securities — 540 55 — 595 Corporate debt — 52 — — 52 Other securities/sovereign debt — 4 — — 4 10 11,127 3,149 — 14,286 Other securities 54 — — — 54 Loans held for sale — 963 — — 963 Loans held for investment — 53 27 — 80 MSRs — — 8 — 8 Derivative assets — 1,112 11 (546 ) 577 Liabilities Derivative liabilities — 628 3 (504 ) 127 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2018 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Municipal securities $ 1 $ 27 $ — $ — $ 28 Other securities 77 — — — 77 78 27 — — 105 Available-for-sale securities: U.S. Treasury securities 5 — — — 5 Residential CMOs — 6,999 — — 6,999 Residential MBS — 1,255 — — 1,255 Commercial MBS — 1,583 — — 1,583 Other agencies — 126 — — 126 Municipal securities — 275 3,165 — 3,440 Asset-backed securities — 315 — — 315 Corporate debt — 53 — — 53 Other securities/sovereign debt — 4 — — 4 5 10,610 3,165 — 13,780 Other securities 22 — — — 22 Loans held for sale — 613 — — 613 Loans held for investment — 49 30 — 79 MSRs — — 10 — 10 Derivative assets 21 474 5 (291 ) 209 Liabilities Derivative liabilities 11 390 3 (217 ) 187 (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. |
Rollforward of financial instruments measured on a recurring basis and classified as Level 3 | Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset-backed securities Loans held for investment Opening balance $ 9 $ 9 $ 3,202 $ — $ 28 Transfers out of Level 3 (1) — (20 ) — — — Total gains/losses for the period: Included in earnings (1 ) 19 (1 ) — — Included in OCI — — 24 — — Purchases/originations — — 28 55 — Sales — — — — — Repayments — — — — (1 ) Settlements — — (159 ) — — Closing balance $ 8 $ 8 $ 3,094 $ 55 $ 27 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 ) $ (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 $ — $ — $ 23 $ — $ — Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Loans held for investment Opening balance $ 11 $ 1 $ 3,178 $ 34 Transfers out of Level 3 (1) — (12 ) — — Total gains/losses for the period: Included in earnings — 9 (1 ) — Included in OCI — — — — Purchases/originations — — 260 — Sales — — — — Repayments — — — (2 ) Settlements — 3 (160 ) — Closing balance $ 11 $ 1 $ 3,277 $ 32 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ — $ (3 ) $ — $ — |
Classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities | 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 three-month and nine-month periods ended September 30, 2019 and 2018 : Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ (1 ) $ 19 $ — Interest and fee income — — (1 ) Total $ (1 ) $ 19 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ — $ 9 $ — Other expense — — (1 ) Total $ — $ 9 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Classification of gains and losses in earnings: Mortgage banking income $ (2 ) $ 50 $ — Interest and fee income — — (1 ) Total $ (2 ) $ 50 $ (1 ) Level 3 Fair Value Measurements Available-for-sale securities (dollar amounts in millions) MSRs Derivative instruments Municipal securities Asset-backed securities Classification of gains and losses in earnings: Mortgage banking income $ — $ 25 $ — $ — Securities gains (losses) — — — (2 ) Other expense — — (3 ) — Total $ — $ 25 $ (3 ) $ (2 ) |
Assets and liabilities under the fair value option | The following tables present the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: September 30, 2019 (dollar amounts in millions) Total Loans Loans that are 90 or more days past due Assets Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Loans held for sale $ 963 $ 932 $ 31 $ 1 $ 1 $ — Loans held for investment 80 86 (6 ) 4 6 (2 ) December 31, 2018 (dollar amounts in millions) Total Loans Loans that are 90 or more days past due Assets Fair value carrying amount Aggregate unpaid principal Difference Fair value carrying amount Aggregate unpaid principal Difference Loans held for sale $ 613 $ 594 $ 19 $ — $ — $ — Loans held for investment 79 87 (8 ) 6 7 (1 ) The following tables present the net gains (losses) from fair value changes for the three-month and nine-month periods ended September 30, 2019 and 2018 . Net gains (losses) from fair value changes Net gains (losses) from fair value changes (dollar amounts in millions) Three Months Ended September 30, Nine Months Ended September 30, Assets 2019 2018 2019 2018 Loans held for sale (1) $ 6 $ (4 ) $ 12 $ (1 ) (1) The net gains (losses) from fair value changes are included in Mortgage banking income on the Unaudited Condensed Consolidated Statements of Income. |
Assets measured at fair value on a nonrecurring basis | The amounts measured at fair value on a nonrecurring basis at September 30, 2019 were as follows: Fair Value Measurements Using (dollar amounts in millions) Fair Value Quoted Prices In Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total MSRs $ 172 $ — $ — $ 172 $ (38 ) Impaired loans 20 — — 20 (1 ) Loans held for sale 36 — — 36 (13 ) |
Quantitative information about significant unobservable level 3 fair value measurement inputs | Quantitative Information about Level 3 Fair Value Measurements at September 30, 2019 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 8 Discounted cash flow Constant prepayment rate 0 % - 25 % 9 % Spread over forward interest rate swap rates 5 % - 11 % 8 % Derivative assets 11 Consensus Pricing Net market price (2 )% - 14 % 2 % Estimated Pull through % 1 % - 100 % 90 % Derivative liabilities 3 Discounted cash flow Estimated conversion factor 162 % Estimated growth rate of Visa Class A shares 7 % Discount rate 2 % Timing of the resolution of the litigation 6/30/2020 Municipal securities 3,094 Discounted cash flow Discount rate 2 % - 3 % 2 % Asset-backed securities 55 Cumulative default 0 % - 64 % 4 % Loss given default 5 % - 80 % 24 % Loans held for investment 27 Discounted cash flow Discount rate 6 % - 6 % 6 % Constant prepayment rate 9 % - 12 % 9 % Measured at fair value on a nonrecurring basis: MSRs 172 Discounted cash flow Constant prepayment rate 12 % 33 % 16 % Spread over forward interest rate swap rates 5 % 11 % 9 % Impaired loans 20 Appraisal value NA NA Loans held for sale 36 Appraisal value NA NA Quantitative Information about Level 3 Fair Value Measurements at December 31, 2018 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 10 Discounted cash flow Constant prepayment rate 6 % - 54 % 8 % Spread over forward interest rate swap rates 5 % - 11 % 8 % Derivative assets 5 Consensus Pricing Net market price (5 )% - 23 % 2 % Estimated Pull through % 1 % - 100 % 92 % Derivative liabilities 3 Discounted cash flow Estimated conversion factor 163 % Estimated growth rate of Visa Class A shares 7 % Discount rate 4 % Timing of the resolution of the litigation 6/30/2020 Municipal securities 3,165 Discounted cash flow Discount rate 4 % - 4 % 4 % Cumulative default 0 % - 39 % 3 % Loss given default 5 % - 90 % 25 % Loans held for investment 30 Discounted cash flow Discount rate 7 % - 9 % 9 % Constant prepayment rate 9 % - 9 % 9 % Measured at fair value on a nonrecurring basis: Impaired loans 33 Appraisal value NA NA Loans held for sale 121 Discounted cash flow Discount rate 5 % - 6 % 5 % 24 Appraisal value NA NA |
Carrying amounts and estimated fair values of financial instruments | The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments at September 30, 2019 and December 31, 2018 : September 30, 2019 (dollar amounts in millions) Amortized Cost Lower of Cost or Market Fair Value or Fair Value Option Total Carrying Amount Estimated Fair Value Financial Assets Cash and short-term assets $ 1,758 $ — $ — $ 1,758 $ 1,758 Trading account securities — — 118 118 118 Available-for-sale securities — — 14,286 14,286 14,286 Held-to-maturity securities 8,430 — — 8,430 8,584 Other securities 401 — 54 455 455 Loans held for sale — 101 963 1,064 1,067 Net loans and leases (1) 74,029 — 80 74,109 75,234 Derivatives — — 577 577 577 Financial Liabilities Deposits 82,395 — — 82,395 82,398 Short-term borrowings 2,173 — — 2,173 2,173 Long-term debt 9,874 — — 9,874 10,075 Derivatives — — 127 127 127 December 31, 2018 (dollar amounts in millions) Amortized Cost Lower of Cost or Market Fair Value or Fair Value Option Total Carrying Amount Estimated Fair Value Financial Assets Cash and short-term assets $ 2,725 $ — $ — $ 2,725 $ 2,725 Trading account securities — — 105 105 105 Available-for-sale securities — — 13,780 13,780 13,780 Held-to-maturity securities 8,565 — — 8,565 8,286 Other securities 543 — 22 565 565 Loans held for sale — 191 613 804 806 Net loans and leases (1) 74,049 — 79 74,128 73,668 Derivatives — — 209 209 209 Financial Liabilities Deposits 84,774 — — 84,774 84,731 Short-term borrowings 2,017 — — 2,017 2,017 Long-term debt 8,625 — — 8,625 8,718 Derivatives — — 187 187 187 (1) Includes collateral-dependent loans measured for impairment. The following table presents the level in the fair value hierarchy for the estimated fair values at September 30, 2019 and December 31, 2018 : Estimated Fair Value Measurements at Reporting Date Using September 30, 2019 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 29 $ 89 $ — $ 118 Available-for-sale securities 10 11,127 3,149 14,286 Held-to-maturity securities — 8,584 — 8,584 Other securities (1) 54 — — 54 Loans held for sale — 963 104 1,067 Net loans and direct financing leases — 80 75,154 75,234 Financial Liabilities Deposits — 75,707 6,691 82,398 Short-term borrowings — — 2,173 2,173 Long-term debt — 9,435 640 10,075 Estimated Fair Value Measurements at Reporting Date Using December 31, 2018 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 78 $ 27 $ — $ 105 Available-for-sale securities 5 10,610 3,165 13,780 Held-to-maturity securities — 8,286 — 8,286 Other securities (1) 22 — — 22 Loans held for sale — 613 193 806 Net loans and direct financing leases — 49 73,619 73,668 Financial Liabilities Deposits — 76,922 7,809 84,731 Short-term borrowings 1 — 2,016 2,017 Long-term debt — 8,158 560 8,718 |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments, Gain (Loss) [Line Items] | |
Asset and liability derivatives included in accrued income and other assets | September 30, 2019 December 31, 2018 (dollar amounts in millions) Asset Liability Asset Liability Derivatives designated as Hedging Instruments Interest rate contracts $ 376 $ 19 $ 44 $ 42 Derivatives not designated as Hedging Instruments Interest rate contracts 544 417 261 165 Foreign exchange contracts 22 20 23 19 Commodities contracts 178 172 172 168 Equity contracts 3 3 — 10 Total Contracts $ 1,123 $ 631 $ 500 $ 404 |
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | The following table presents the amount of gain or loss recognized in income for derivatives not designated as hedging instruments under ASC Subtopic 815-10 in the Unaudited Condensed Consolidated Income Statement for the three-month and nine-month periods ended September 30, 2019 and 2018 , respectively. Location of Gain or (Loss) Recognized in Income on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Interest rate contracts: Customer Capital markets fees $ 15 $ 11 $ 38 $ 30 Mortgage Banking Mortgage banking income 28 5 52 (3 ) Interest Rate Floors Other noninterest income (1 ) — 4 — Foreign exchange contracts Capital markets fees 7 6 22 18 Commodities contracts Capital markets fees 1 1 (3 ) 3 Equity contracts Other noninterest expense (2 ) — (3 ) 3 Total $ 48 $ 23 $ 110 $ 51 |
Gross notional values of derivatives used in asset and liability management activities | The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at September 30, 2019 and December 31, 2018 , identified by the underlying interest rate-sensitive instruments. September 30, 2019 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Loans $ — $ 17,150 $ 17,150 Investment securities — 12 12 Long-term debt 7,540 — 7,540 Total notional value at September 30, 2019 $ 7,540 $ 17,162 $ 24,702 December 31, 2018 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Investment securities $ — $ 12 $ 12 Long-term debt 4,865 — 4,865 Total notional value at December 31, 2018 $ 4,865 $ 12 $ 4,877 |
Additional information about the interest rate swaps used in asset and liability management activities | The following table presents additional information about the interest rate swaps and floors used in Huntington’s asset and liability management activities at September 30, 2019 and December 31, 2018 . September 30, 2019 Weighted-Average Rate (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 8,287 3.5 $ 106 1.69 % 1.33 % Liability conversion swaps Receive fixed—generic 7,540 2.5 191 2.20 2.08 Total swap portfolio at September 30, 2019 $ 15,827 3.0 $ 297 1.93 % 1.69 % September 30, 2019 (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Interest rate floors Designated interest rate floors $ 8,875 1.6 $ 60 Total floors portfolio at September 30, 2019 $ 8,875 1.6 $ 60 December 31, 2018 Weighted-Average Rate (dollar amounts in millions) Notional Value Average Maturity (years) Fair Value Receive Pay Asset conversion swaps Receive fixed—generic $ 12 1.2 $ — 2.20 % 2.46 % Liability conversion swaps Receive fixed—generic 4,865 2.6 2 2.24 2.54 Total swap portfolio at December 31, 2018 $ 4,877 2.6 $ 2 2.24 % 2.54 % |
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | 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 three-month and nine-month periods ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Interest rate contracts Change in fair value of interest rate swaps hedging long-term debt (1) $ 36 $ (11 ) $ 165 $ 55 Change in fair value of hedged long term debt (1) (32 ) 12 (162 ) (49 ) (1) Recognized in Interest expense—long-term debt in the Unaudited Condensed Consolidated Statements of Income . |
Amounts recorded on the balance sheet related to cumulative basis adjustments | As of September 30, 2019 and December 31, 2018 , the following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges. Carrying Amount of the Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment To Hedged Liabilities (dollar amounts in millions) September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Long-term debt $ 7,835 $ 4,845 $ 150 $ (12 ) The cumulative amount of fair value hedging adjustments remaining for any hedged assets and liabilities for which hedge accounting has been discontinued was $(104) million and $(127) million at September 30, 2019 and December 31, 2018 , respectively. |
Offsetting of financial assets and derivatives assets | The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Unaudited Condensed Consolidated Balance Sheets at September 30, 2019 and December 31, 2018 . Offsetting of Financial Assets and Derivative Assets Gross amounts Net amounts of Gross amounts not offset in the (dollar amounts in millions) Gross amounts of recognized assets Financial instruments Cash collateral received Net amount September 30, 2019 Derivatives $ 1,123 $ (546 ) $ 577 $ (15 ) $ (31 ) $ 531 December 31, 2018 Derivatives 500 (291 ) 209 (4 ) (53 ) 152 |
Offsetting of financial liabilities and derivative liabilities | Offsetting of Financial Liabilities and Derivative Liabilities Gross amounts offset in the unaudited condensed consolidated balance sheets Net amounts of liabilities presented in the unaudited condensed consolidated balance sheets Gross amounts not offset in the unaudited condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized liabilities Financial instruments Cash collateral delivered Net amount September 30, 2019 Derivatives $ 631 $ (504 ) $ 127 $ — $ (23 ) $ 104 December 31, 2018 Derivatives 404 (217 ) 187 — (12 ) 175 |
VIEs (Tables)
VIEs (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Carrying amount and classification of the trusts assets and liabilities | The following tables provide a summary of the assets and liabilities included in Huntington’s Unaudited Condensed 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, but is not the primary beneficiary, to the VIE at September 30, 2019 , and December 31, 2018 : September 30, 2019 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities $ 14 $ 252 $ — Affordable Housing Tax Credit Partnerships 714 338 714 Other Investments 157 64 157 Total $ 885 $ 654 $ 871 December 31, 2018 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities $ 14 $ 252 $ — Affordable Housing Tax Credit Partnerships 708 357 708 Other Investments 126 53 126 Total $ 848 $ 662 $ 834 |
Summary of Outstanding Trust Preferred Securities | A list of trust preferred securities outstanding at September 30, 2019 follows: (dollar amounts in millions) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 2.79 % (2) $ 70 $ 6 Huntington Capital II 2.71 (3) 32 3 Sky Financial Capital Trust III 3.49 (4) 72 2 Sky Financial Capital Trust IV 3.49 (4) 74 2 Camco Financial Trust 3.42 (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 September 30, 2019 , based on three-month LIBOR + 0.70% . (3) Variable effective rate at September 30, 2019 , based on three-month LIBOR + 0.625% . (4) Variable effective rate at September 30, 2019 , based on three-month LIBOR + 1.40% . (5) Variable effective rate at September 30, 2019 , based on three-month LIBOR + 1.33% . |
Affordable housing tax credit investments | The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at September 30, 2019 and December 31, 2018 . (dollar amounts in millions) September 30, December 31, Affordable housing tax credit investments $ 1,219 $ 1,147 Less: amortization (505 ) (439 ) Net affordable housing tax credit investments $ 714 $ 708 Unfunded commitments $ 338 $ 357 The following table presents other information relating to Huntington’s affordable housing tax credit investments for the three-month and nine-month periods ended September 30, 2019 and 2018 . Three Months Ended Nine Months Ended (dollar amounts in millions) 2019 2018 2019 2018 Tax credits and other tax benefits recognized $ 26 $ 24 $ 79 $ 70 Proportional amortization expense included in provision for income taxes 22 19 66 59 |
COMMITMENTS AND CONTINGENT LI_2
COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contract amounts of various commitments to extend credit | In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Unaudited Condensed Consolidated Financial Statements. The contract amounts of these financial agreements at September 30, 2019 and December 31, 2018 , were as follows: (dollar amounts in millions) September 30, December 31, Contract amount representing credit risk Commitments to extend credit: Commercial $ 18,345 $ 17,149 Consumer 14,754 14,974 Commercial real estate 1,410 1,188 Standby letters of credit 624 676 Commercial letters-of-credit 10 14 |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Listed in the table below is certain operating basis financial information reconciled to Huntington’s September 30, 2019 , December 31, 2018 , and September 30, 2018 , reported results by business segment. Three Months Ended September 30, Income Statements Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated (dollar amounts in millions) 2019 Net interest income $ 433 $ 263 $ 100 $ 48 $ (45 ) $ 799 Provision (benefit) for credit losses 35 36 12 (1 ) — 82 Noninterest income 223 101 4 47 14 389 Noninterest expense 421 142 36 63 5 667 Provision (benefit) for income taxes 42 39 12 7 (33 ) 67 Net income (loss) $ 158 $ 147 $ 44 $ 26 $ (3 ) $ 372 2018 Net interest income $ 445 $ 259 $ 97 $ 51 $ (50 ) $ 802 Provision (benefit) for credit losses 41 (1 ) 13 — — 53 Noninterest income 194 81 3 46 18 342 Noninterest expense 424 121 35 60 11 651 Provision (benefit) for income taxes 38 46 11 6 (39 ) 62 Net income (loss) $ 136 $ 174 $ 41 $ 31 $ (4 ) $ 378 Nine Months Ended September 30, Income Statements Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated (dollar amounts in millions) 2019 Net interest income $ 1,371 $ 798 $ 291 $ 153 $ (180 ) $ 2,433 Provision (benefit) for credit losses 81 103 27 (3 ) — 208 Noninterest income 596 266 9 147 64 1,082 Noninterest expense 1,247 427 112 193 41 2,020 Provision (benefit) for income taxes 134 113 33 23 (110 ) 193 Net income (loss) $ 505 $ 421 $ 128 $ 87 $ (47 ) $ 1,094 2018 Net interest income $ 1,254 $ 744 $ 294 $ 148 $ (84 ) $ 2,356 Provision (benefit) for credit losses 98 41 36 — — 175 Noninterest income 557 234 9 146 46 992 Noninterest expense 1,263 364 106 180 23 1,936 Provision (benefit) for income taxes 95 120 34 24 (95 ) 178 Net income (loss) $ 355 $ 453 $ 127 $ 90 $ 34 $ 1,059 Assets at Deposits at (dollar amounts in millions) September 30, December 31, September 30, December 31, Consumer & Business Banking $ 25,418 $ 27,486 $ 51,671 $ 50,300 Commercial Banking 34,368 34,818 21,088 23,185 Vehicle Finance 19,414 19,435 363 346 RBHPCG 6,593 6,540 6,101 6,809 Treasury / Other 22,942 20,502 3,172 4,134 Total $ 108,735 $ 108,781 $ 82,395 $ 84,774 |
Segment Disclosure of Assets and Deposits | Assets at Deposits at (dollar amounts in millions) September 30, December 31, September 30, December 31, Consumer & Business Banking $ 25,418 $ 27,486 $ 51,671 $ 50,300 Commercial Banking 34,368 34,818 21,088 23,185 Vehicle Finance 19,414 19,435 363 346 RBHPCG 6,593 6,540 6,101 6,809 Treasury / Other 22,942 20,502 3,172 4,134 Total $ 108,735 $ 108,781 $ 82,395 $ 84,774 |
LOANS _ LEASES AND ALLOWANCE _3
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) $ in Millions | 3 Months Ended | |||||
Sep. 30, 2019USD ($)reserve | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Capital Leases, Future Minimum Payments Receivable | $ 1,700 | |||||
Total ALLL balance | 783 | $ 774 | $ 772 | $ 761 | $ 741 | $ 691 |
Loans and leases receivable net premium | $ 490 | 428 | ||||
Number of days past due | 30 days | |||||
Allowance number of reserves | reserve | 2 | |||||
Collateral for secured borrowings | $ 38,200 | 46,500 | ||||
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total ALLL balance | 561 | 560 | 542 | 543 | 531 | 482 |
Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total ALLL balance | $ 222 | $ 214 | $ 230 | $ 218 | $ 210 | $ 209 |
LOANS _ LEASES AND ALLOWANCE _4
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Loan and Lease Portfolio Composition (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | [1] | $ 74,892 | $ 74,900 | ||||
Allowance for loan and lease losses | (783) | $ (774) | (772) | $ (761) | $ (741) | $ (691) | |
Net loans and leases | 74,109 | 74,128 | |||||
Loans Receivable, Fair Value Disclosure | 80 | 79 | |||||
Commercial and Industrial | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 30,394 | 30,605 | |||||
Loans Receivable, Amortized Cost Disclosure | 30,605 | ||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Commercial Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 6,855 | 6,842 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Real Estate | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans Receivable, Amortized Cost Disclosure | 6,842 | ||||||
Automobile | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 12,292 | 12,429 | |||||
Loans Receivable, Amortized Cost Disclosure | 12,429 | ||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Home Equity | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 9,300 | 9,722 | |||||
Loans Receivable, Amortized Cost Disclosure | 9,722 | ||||||
Loans Receivable, Fair Value Disclosure | 1 | 1 | |||||
Residential Mortgage | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 11,247 | 10,728 | |||||
Loans Receivable, Amortized Cost Disclosure | 10,728 | ||||||
Loans Receivable, Fair Value Disclosure | 79 | 78 | |||||
RV and Marine FInance | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 3,553 | 3,254 | |||||
Loans Receivable, Amortized Cost Disclosure | 3,254 | ||||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Other Consumer | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 1,251 | 1,320 | |||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | |||||
Consumer | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Allowance for loan and lease losses | (222) | (214) | (230) | (218) | (210) | (209) | |
Consumer | Automobile | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 12,292 | 12,429 | |||||
Consumer | Home Equity | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 9,299 | 9,720 | |||||
Consumer | RV and Marine FInance | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 3,553 | 3,254 | |||||
Commercial | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans and leases | 30,394 | 30,605 | |||||
Allowance for loan and lease losses | $ (561) | $ (560) | $ (542) | $ (543) | $ (531) | $ (482) | |
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
LOANS _ LEASES AND ALLOWANCE _5
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Direct Financing Leases (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Residual Value of Leased Asset | $ 91 | $ 91 | |
Capital Leases, Future Minimum Payments Receivable, Next Twelve Months | 600 | 600 | |
Capital Leases, Future Minimum Payments, Receivable in Two Years | 500 | 500 | |
Capital Leases, Future Minimum Payments, Receivable in Three Years | 300 | 300 | |
Capital Leases, Future Minimum Payments, Receivable in Four Years | 100 | 100 | |
Capital Leases, Future Minimum Payments, Receivable in Five Years | 100 | 100 | |
Capital Leases, Future Minimum Payments, Receivable Thereafter | 100 | 100 | |
Direct Financing Lease, Interest Income | 28 | 81 | |
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Capital Leases, Net Investment in Direct Financing Leases, Minimum Payments to be Received | 1,743 | 1,743 | $ 1,747 |
Capital Leases, Net Investment in Direct Financing Leases, Unguaranteed Residual Values of Leased Property | 701 | 701 | 726 |
Capital Leases Gross Investment In Direct Financing Leases | 2,444 | 2,444 | 2,473 |
Capital Leases, Net Investment in Direct Financing Leases, Initial Direct Costs | 18 | 18 | 20 |
Capital Leases, Net Investment in Direct Financing Leases, Deferred Income | 245 | 245 | 250 |
Capital Leases, Net Investment in Direct Financing Leases | $ 2,217 | $ 2,217 | $ 2,243 |
LOANS _ LEASES AND ALLOWANCE _6
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 438 | $ 340 |
Commercial | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 291 | 188 |
Commercial | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 12 | |
Commercial | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 15 | |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 5 | 5 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 60 | 62 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 69 | 69 |
Consumer | RV and Marine FInance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 1 | 1 |
Consumer | Other Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 0 | $ 0 |
LOANS _ LEASES AND ALLOWANCE _7
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - NALs Past Due (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | $ 776 | $ 774 | |
Current | 74,036 | 74,047 | |
Consumer loans | 80 | 79 | |
Loans and leases | [1] | 74,892 | 74,900 |
90 or more days past due and accruing | 163 | 170 | |
30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 349 | 362 | |
60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 117 | 114 | |
90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 310 | 298 | |
Commercial and Industrial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 169 | 140 | |
Current | 30,225 | 30,465 | |
Consumer loans | 0 | 0 | |
Loans and leases | 30,394 | 30,605 | |
90 or more days past due and accruing | 9 | 7 | |
Commercial and Industrial | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 69 | 72 | |
Commercial and Industrial | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 30 | 17 | |
Commercial and Industrial | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 70 | 51 | |
Commercial Real Estate | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 16 | 15 | |
Current | 6,839 | 6,827 | |
Consumer loans | 0 | 0 | |
Loans and leases | 6,855 | 6,842 | |
90 or more days past due and accruing | 0 | 0 | |
Commercial Real Estate | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 9 | 10 | |
Commercial Real Estate | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 0 | 0 | |
Commercial Real Estate | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 7 | 5 | |
Automobile | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 107 | 124 | |
Current | 12,185 | 12,305 | |
Consumer loans | 0 | 0 | |
Loans and leases | 12,292 | 12,429 | |
90 or more days past due and accruing | 8 | 8 | |
Automobile | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 79 | 95 | |
Automobile | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 18 | 19 | |
Automobile | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 10 | 10 | |
Home Equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 115 | 128 | |
Current | 9,184 | 9,593 | |
Consumer loans | 1 | 1 | |
Loans and leases | 9,300 | 9,722 | |
90 or more days past due and accruing | 13 | 17 | |
Home Equity | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 49 | 51 | |
Home Equity | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 16 | 21 | |
Home Equity | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 50 | 56 | |
Residential Mortgage | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 327 | 323 | |
Current | 10,841 | 10,327 | |
Consumer loans | 79 | 78 | |
Loans and leases | 11,247 | 10,728 | |
90 or more days past due and accruing | 125 | 131 | |
Residential Mortgage | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 119 | 108 | |
Residential Mortgage | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 44 | 47 | |
Residential Mortgage | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 164 | 168 | |
RV and Marine FInance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 16 | 17 | |
Current | 3,537 | 3,237 | |
Consumer loans | 0 | 0 | |
Loans and leases | 3,553 | 3,254 | |
90 or more days past due and accruing | 1 | 1 | |
RV and Marine FInance | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 11 | 12 | |
RV and Marine FInance | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 3 | 3 | |
RV and Marine FInance | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 2 | 2 | |
Other Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 26 | 27 | |
Current | 1,225 | 1,293 | |
Consumer loans | 0 | 0 | |
Loans and leases | 1,251 | 1,320 | |
90 or more days past due and accruing | 7 | 6 | |
Other Consumer | 30-59 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 13 | 14 | |
Other Consumer | 60-89 Days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 6 | 7 | |
Other Consumer | 90 or more days | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due (1) | 7 | 6 | |
Commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and leases | 30,394 | 30,605 | |
Consumer | Automobile | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and leases | 12,292 | 12,429 | |
Consumer | Home Equity | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and leases | 9,299 | 9,720 | |
Consumer | RV and Marine FInance | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and leases | $ 3,553 | $ 3,254 | |
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
LOANS _ LEASES AND ALLOWANCE _8
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | [1] | $ 74,892 | $ 74,892 | $ 74,900 | ||
Portion of ALLL balance: | ||||||
ALLL balance, beginning of period | 774 | $ 741 | 772 | $ 691 | ||
Loan charge-offs | (102) | (58) | (269) | (184) | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 29 | 29 | 77 | 89 | ||
Provision for Loan and Lease Losses | 82 | 53 | 208 | 175 | ||
Provision For (Reduction In Allowance) Loan and Lease Losses. | 82 | 49 | 203 | 165 | ||
ALLL balance, end of period | 783 | 761 | 783 | 761 | ||
AULC Balance, beginning of period | 101 | 93 | 96 | 87 | ||
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | 0 | 4 | 5 | 10 | ||
AULC Balance, end of period | 101 | 97 | 101 | 97 | ||
ACL balance, end of period | 884 | 858 | 884 | 858 | ||
Commercial | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 30,394 | 30,394 | 30,605 | |||
Portion of ALLL balance: | ||||||
ALLL balance, beginning of period | 560 | 531 | 542 | 482 | ||
Loan charge-offs | (53) | (11) | (124) | (46) | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 15 | 15 | 35 | 45 | ||
Provision for Loan and Lease Losses | 8 | |||||
Provision For (Reduction In Allowance) Loan and Lease Losses. | 39 | 108 | 62 | |||
ALLL balance, end of period | 561 | 543 | 561 | 543 | ||
AULC Balance, beginning of period | 99 | 90 | 94 | 84 | ||
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | 0 | 5 | 5 | 11 | ||
AULC Balance, end of period | 99 | 95 | 99 | 95 | ||
ACL balance, end of period | 660 | 638 | 660 | 638 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 6,855 | 6,855 | 6,842 | |||
Consumer | ||||||
Portion of ALLL balance: | ||||||
ALLL balance, beginning of period | 214 | 210 | 230 | 209 | ||
Loan charge-offs | (49) | (47) | (145) | (138) | ||
Allowance for Loan and Lease Loss, Recovery of Bad Debts | 14 | 14 | 42 | 44 | ||
Provision for Loan and Lease Losses | 41 | |||||
Provision For (Reduction In Allowance) Loan and Lease Losses. | 43 | 95 | 103 | |||
ALLL balance, end of period | 222 | 218 | 222 | 218 | ||
AULC Balance, beginning of period | 2 | 3 | 2 | 3 | ||
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | 0 | (1) | 0 | (1) | ||
AULC Balance, end of period | 2 | 2 | 2 | 2 | ||
ACL balance, end of period | 224 | $ 220 | 224 | $ 220 | ||
Automobile Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 12,292 | 12,292 | 12,429 | |||
Automobile Loan [Member] | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 12,292 | 12,292 | 12,429 | |||
Home Equity Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 9,300 | 9,300 | 9,722 | |||
Home Equity Loan [Member] | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 9,299 | 9,299 | 9,720 | |||
Residential Loan [Member] | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 11,168 | 11,168 | 10,650 | |||
RV and Marine Finance Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 3,553 | 3,553 | 3,254 | |||
RV and Marine Finance Loan [Member] | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | 3,553 | 3,553 | 3,254 | |||
Other Consumer Loan [Member] | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loans and leases | $ 1,251 | $ 1,251 | $ 1,320 | |||
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
LOANS _ LEASES AND ALLOWANCE _9
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | [1] | $ 74,892 | $ 74,900 |
Commercial | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 30,394 | 30,605 | |
Commercial | Pass | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 28,276 | 28,807 | |
Commercial | Substandard | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1,457 | 1,269 | |
Commercial | OLEM | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 657 | 518 | |
Commercial | Doubtful | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 4 | 11 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 6,855 | 6,842 | |
Commercial Real Estate Portfolio Segment [Member] | Pass | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 6,609 | 6,586 | |
Commercial Real Estate Portfolio Segment [Member] | Substandard | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 87 | 74 | |
Commercial Real Estate Portfolio Segment [Member] | OLEM | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 158 | 181 | |
Commercial Real Estate Portfolio Segment [Member] | Doubtful | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1 | 1 | |
Automobile Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 12,292 | 12,429 | |
Automobile Loan [Member] | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 12,292 | 12,429 | |
Automobile Loan [Member] | Consumer | Greater than 750 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 6,257 | 6,254 | |
Automobile Loan [Member] | Consumer | 650-749 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 4,462 | 4,520 | |
Automobile Loan [Member] | Consumer | Less Than 650 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1,328 | 1,373 | |
Automobile Loan [Member] | Consumer | Other FICO score | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 245 | 282 | |
Home Equity Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 9,300 | 9,722 | |
Home Equity Loan [Member] | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 9,299 | 9,720 | |
Home Equity Loan [Member] | Consumer | Greater than 750 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 5,847 | 6,098 | |
Home Equity Loan [Member] | Consumer | 650-749 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 2,815 | 2,975 | |
Home Equity Loan [Member] | Consumer | Less Than 650 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 592 | 591 | |
Home Equity Loan [Member] | Consumer | Other FICO score | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 45 | 56 | |
Residential Loan [Member] | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 11,168 | 10,650 | |
Residential Loan [Member] | Consumer | Greater than 750 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 7,633 | 7,159 | |
Residential Loan [Member] | Consumer | 650-749 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 2,796 | 2,801 | |
Residential Loan [Member] | Consumer | Less Than 650 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 600 | 612 | |
Residential Loan [Member] | Consumer | Other FICO score | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 139 | 78 | |
RV and Marine Finance Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 3,553 | 3,254 | |
RV and Marine Finance Loan [Member] | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 3,553 | 3,254 | |
RV and Marine Finance Loan [Member] | Consumer | Greater than 750 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 2,313 | 2,074 | |
RV and Marine Finance Loan [Member] | Consumer | 650-749 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1,027 | 990 | |
RV and Marine Finance Loan [Member] | Consumer | Less Than 650 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 111 | 105 | |
RV and Marine Finance Loan [Member] | Consumer | Other FICO score | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 102 | 85 | |
Other Consumer Loan [Member] | Consumer | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1,251 | 1,320 | |
Other Consumer Loan [Member] | Consumer | Greater than 750 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 487 | 501 | |
Other Consumer Loan [Member] | Consumer | 650-749 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 583 | 633 | |
Other Consumer Loan [Member] | Consumer | Less Than 650 | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 117 | 129 | |
Other Consumer Loan [Member] | Consumer | Other FICO score | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | $ 64 | $ 57 | |
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
LOANS _ LEASES AND ALLOWANCE_10
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - ALLL Attributable to Loans by Portfolio Segment (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Portion of ALLL balance: | ||||||
Attributable to loans individually evaluated for impairment | $ 52 | $ 43 | ||||
Attributable to loans collectively evaluated for impairment | 731 | 729 | ||||
Total ALLL balance | 783 | $ 774 | 772 | $ 761 | $ 741 | $ 691 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 73,659 | 73,714 | ||||
Individually evaluated for impairment | 1,153 | 1,107 | ||||
Financing Receivable Evaluated For Impairment | 74,812 | 74,821 | ||||
Commercial | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans individually evaluated for impairment | 45 | 33 | ||||
Attributable to loans collectively evaluated for impairment | 516 | 509 | ||||
Total ALLL balance | 561 | 560 | 542 | 543 | 531 | 482 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 36,675 | 36,931 | ||||
Individually evaluated for impairment | 574 | 516 | ||||
Financing Receivable Evaluated For Impairment | 37,249 | 37,447 | ||||
Consumer | ||||||
Portion of ALLL balance: | ||||||
Attributable to loans individually evaluated for impairment | 7 | 10 | ||||
Attributable to loans collectively evaluated for impairment | 215 | 220 | ||||
Total ALLL balance | 222 | $ 214 | 230 | $ 218 | $ 210 | $ 209 |
Portion of loan and lease ending balance: | ||||||
Collectively evaluated for impairment | 36,984 | 36,783 | ||||
Individually evaluated for impairment | 579 | 591 | ||||
Financing Receivable Evaluated For Impairment | $ 37,563 | $ 37,374 |
LOANS _ LEASES AND ALLOWANCE_11
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Commercial | Commercial and Industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | $ 205 | $ 205 | $ 224 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 250 | 250 | 261 | ||
Average balance of impaired loans with no allowance recorded | 204 | $ 264 | 210 | $ 264 | |
Interest income recognized on impaired loans with no allowance recorded | 4 | 5 | 16 | 16 | |
Ending balance of impaired loans with allowance recorded | 314 | 314 | 221 | ||
Unpaid principal balance of impaired loans with allowance recorded | 344 | 344 | 240 | ||
Related Allowance | 43 | 43 | 31 | ||
Average balance of impaired loans with allowance recorded | 322 | 284 | 298 | 285 | |
Interest income recognized on impaired loans with allowance recorded | 3 | 3 | 8 | 9 | |
Impaired Financing Receivable, Recorded Investment | 519 | 519 | 445 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 594 | 594 | 501 | ||
Impaired Financing Receivable, Average Recorded Investment | 526 | 548 | 508 | 549 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 7 | 8 | 24 | 25 | |
Loans considered impaired due to status as a TDR | 309 | 309 | 366 | ||
Commercial | Commercial Real Estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with no allowance recorded | 31 | 31 | 36 | ||
Unpaid principal balance of impaired loans with no allowance recorded | 33 | 33 | 45 | ||
Average balance of impaired loans with no allowance recorded | 30 | 36 | 34 | 49 | |
Interest income recognized on impaired loans with no allowance recorded | 2 | 2 | 6 | 6 | |
Ending balance of impaired loans with allowance recorded | 24 | 24 | 35 | ||
Unpaid principal balance of impaired loans with allowance recorded | 27 | 27 | 39 | ||
Related Allowance | 2 | 2 | 2 | ||
Average balance of impaired loans with allowance recorded | 29 | 49 | 32 | 48 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 1 | 1 | 2 | |
Impaired Financing Receivable, Recorded Investment | 55 | 55 | 71 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 60 | 60 | 84 | ||
Impaired Financing Receivable, Average Recorded Investment | 59 | 85 | 66 | 97 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 3 | 7 | 8 | |
Loans considered impaired due to status as a TDR | 46 | 46 | 60 | ||
Consumer | Automobile | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 42 | 42 | 38 | ||
Unpaid principal balance of impaired loans with allowance recorded | 45 | 45 | 42 | ||
Related Allowance | 2 | 2 | 2 | ||
Average balance of impaired loans with allowance recorded | 41 | 38 | 40 | 37 | |
Interest income recognized on impaired loans with allowance recorded | 1 | 1 | 2 | 2 | |
Impaired Financing Receivable, Recorded Investment | 42 | 42 | 38 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 45 | 45 | 42 | ||
Impaired Financing Receivable, Average Recorded Investment | 41 | 38 | 40 | 37 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 1 | 2 | 2 | |
Consumer | Home Equity | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 292 | 292 | 314 | ||
Unpaid principal balance of impaired loans with allowance recorded | 329 | 329 | 356 | ||
Related Allowance | 9 | 9 | 10 | ||
Average balance of impaired loans with allowance recorded | 297 | 326 | 305 | 330 | |
Interest income recognized on impaired loans with allowance recorded | 3 | 3 | 10 | 11 | |
Impaired Financing Receivable, Recorded Investment | 292 | 292 | 314 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 329 | 329 | 356 | ||
Impaired Financing Receivable, Average Recorded Investment | 297 | 326 | 305 | 330 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 3 | 10 | 11 | |
Consumer | Residential Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 290 | 290 | 287 | ||
Unpaid principal balance of impaired loans with allowance recorded | 326 | 326 | 323 | ||
Related Allowance | 3 | 3 | 4 | ||
Average balance of impaired loans with allowance recorded | 287 | 290 | 287 | 299 | |
Interest income recognized on impaired loans with allowance recorded | 3 | 3 | 8 | 8 | |
Impaired Financing Receivable, Recorded Investment | 290 | 290 | 287 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 326 | 326 | 323 | ||
Impaired Financing Receivable, Average Recorded Investment | 287 | 290 | 287 | 299 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 3 | 8 | 8 | |
Consumer | RV and Marine FInance | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 4 | 4 | 2 | ||
Unpaid principal balance of impaired loans with allowance recorded | 4 | 4 | 3 | ||
Related Allowance | 0 | 0 | 0 | ||
Average balance of impaired loans with allowance recorded | 3 | 2 | 3 | 2 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Recorded Investment | 4 | 4 | 2 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 4 | 4 | 3 | ||
Impaired Financing Receivable, Average Recorded Investment | 3 | 2 | 3 | 2 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Consumer | Other Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Ending balance of impaired loans with allowance recorded | 10 | 10 | 9 | ||
Unpaid principal balance of impaired loans with allowance recorded | 10 | 10 | 9 | ||
Related Allowance | 2 | 2 | 3 | ||
Average balance of impaired loans with allowance recorded | 10 | 9 | 9 | 8 | |
Interest income recognized on impaired loans with allowance recorded | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Recorded Investment | 10 | 10 | 9 | ||
Impaired Financing Receivable, Unpaid Principal Balance | 10 | 10 | $ 9 | ||
Impaired Financing Receivable, Average Recorded Investment | 10 | 9 | 9 | 8 | |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS _ LEASES AND ALLOWANCE_12
LOANS / LEASES AND ALLOWANCE FOR CREDIT LOSSES - TDRs (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($)contract | Sep. 30, 2018USD ($)contract | Sep. 30, 2019USD ($)contract | Sep. 30, 2018USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 1,535 | 1,649 | 4,157 | 4,993 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 64 | $ 69 | $ 195 | $ 465 |
New Troubled Debt Restructuring, Financial effects of modification | (1) | 1 | 1 | 11 |
Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 2 | 2 | 6 | 6 |
Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 57 | 60 | 175 | 442 |
Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 5 | 7 | 14 | 17 |
Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial | Commercial and Industrial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 119 | 131 | 335 | 641 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 39 | $ 35 | $ 114 | $ 302 |
Commercial | Commercial and Industrial | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Commercial | Commercial and Industrial | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 39 | 35 | 114 | 302 |
Commercial | Commercial and Industrial | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Commercial | Commercial and Industrial | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Commercial | Commercial Real Estate | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 7 | 9 | 21 | 95 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1 | $ 5 | $ 12 | $ 79 |
Commercial | Commercial Real Estate | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Commercial | Commercial Real Estate | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 1 | 5 | 12 | 79 |
Commercial | Commercial Real Estate | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Commercial | Commercial Real Estate | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Automobile | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 833 | 848 | 2,227 | 2,088 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 7 | $ 7 | $ 20 | $ 17 |
Consumer | Automobile | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | Automobile | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 5 | 4 | 14 | 11 |
Consumer | Automobile | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 2 | 3 | 6 | 6 |
Consumer | Automobile | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Home Equity | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 76 | 159 | 248 | 472 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 5 | $ 11 | $ 13 | $ 29 |
Consumer | Home Equity | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | Home Equity | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 2 | 8 | 7 | 21 |
Consumer | Home Equity | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 3 | 3 | 6 | 8 |
Consumer | Home Equity | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Residential Mortgage | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 69 | 76 | 241 | 278 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 9 | $ 9 | $ 28 | $ 31 |
Consumer | Residential Mortgage | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | Residential Mortgage | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 9 | 8 | 27 | 29 |
Consumer | Residential Mortgage | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 1 | 1 | 2 |
Consumer | Residential Mortgage | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | RV and Marine FInance | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 46 | 40 | 113 | 99 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 1 | $ 0 | $ 2 | $ 1 |
Consumer | RV and Marine FInance | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | RV and Marine FInance | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 1 | 0 | 1 | 0 |
Consumer | RV and Marine FInance | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 1 | 1 |
Consumer | RV and Marine FInance | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Consumer | Other Consumer | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Number of Contracts | contract | 385 | 386 | 972 | 1,320 |
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 2 | $ 2 | $ 6 | $ 6 |
Consumer | Other Consumer | Interest rate reduction | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 2 | 2 | 6 | 6 |
Consumer | Other Consumer | Amortization or maturity date change | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | Other Consumer | Chapter 7 bankruptcy | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | 0 | 0 | 0 | 0 |
Consumer | Other Consumer | Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
New Troubled Debt Restructuring, Post-modification Outstanding Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
INVESTMENT SECURITIES AND OTH_3
INVESTMENT SECURITIES AND OTHER SECURITIES - Schedule of Amortized Cost, Fair Value, and Gross Unrealized Gains and Losses (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 14,176 | $ 14,108 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 158 | 31 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 48 | 359 |
Debt Securities, Available-for-sale | 14,286 | 13,780 |
Debt Securities, Held-to-maturity | 8,430 | 8,565 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 157 | 2 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (281) |
Debt Securities, Held-to-maturity, Fair Value | 8,584 | 8,286 |
Equity Securities, FV-NI, Cost | 455 | 564 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 0 | 1 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 455 | 565 |
US Treasury Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 10 | 5 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-sale | 10 | 5 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 6,668 | 7,185 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 71 | 15 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 15 | 201 |
Debt Securities, Available-for-sale | 6,724 | 6,999 |
Debt Securities, Held-to-maturity | 1,970 | 2,124 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 41 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (47) |
Debt Securities, Held-to-maturity, Fair Value | 2,008 | 2,077 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2,355 | 1,261 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 39 | 9 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 1 | 15 |
Debt Securities, Available-for-sale | 2,393 | 1,255 |
Debt Securities, Held-to-maturity | 2,065 | 1,851 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 45 | 2 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (42) |
Debt Securities, Held-to-maturity, Fair Value | 2,110 | 1,811 |
Commercial Mortgage Backed Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,237 | 1,641 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 1 | 58 |
Debt Securities, Available-for-sale | 1,239 | 1,583 |
Debt Securities, Held-to-maturity | 4,075 | 4,235 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 66 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (186) |
Debt Securities, Held-to-maturity, Fair Value | 4,141 | 4,049 |
Other Federal Agencies [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 117 | 128 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 2 |
Debt Securities, Available-for-sale | 117 | 126 |
Debt Securities, Held-to-maturity | 316 | 350 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 5 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | (6) |
Debt Securities, Held-to-maturity, Fair Value | 321 | 344 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 10,387 | 10,220 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 113 | 24 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 17 | 276 |
Debt Securities, Available-for-sale | 10,483 | 9,968 |
Debt Securities, Held-to-maturity | 8,426 | 8,560 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 157 | 2 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (3) | (281) |
Debt Securities, Held-to-maturity, Fair Value | 8,580 | 8,281 |
Municipal securities | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,147 | 3,512 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 35 | 6 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 30 | 78 |
Debt Securities, Available-for-sale | 3,152 | 3,440 |
Debt Securities, Held-to-maturity | 4 | 5 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Fair Value | 4 | 5 |
Asset-backed Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 588 | 318 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 8 | 1 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 1 | 4 |
Debt Securities, Available-for-sale | 595 | 315 |
Corporate Debt Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 50 | 54 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 2 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 1 |
Debt Securities, Available-for-sale | 52 | 53 |
Other Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 4 | 4 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Debt Securities, Available-for-sale | 4 | 4 |
Mutual Fund [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 53 | 20 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 53 | 20 |
Equity Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 1 | 1 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 0 | 1 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 1 | 2 |
Investment in Federal Home Loan Bank Stock [Member] | Nonmarketable Equity Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 104 | 248 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 104 | 248 |
Investment in Federal Reserve Stock [Member] | Nonmarketable Equity Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 297 | 295 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | $ 297 | $ 295 |
INVESTMENT SECURITIES AND OTH_4
INVESTMENT SECURITIES AND OTHER SECURITIES - Contractual Maturities (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | $ 294 | $ 186 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 291 | 185 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 1,084 | 1,057 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 1,074 | 1,039 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 1,708 | 1,838 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 1,717 | 1,802 |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | 11,090 | 11,027 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 11,204 | 10,754 |
Debt Securities, Available-for-sale, Amortized Cost | 14,176 | 14,108 |
Debt Securities, Available-for-sale | 14,286 | 13,780 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 0 | 0 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 0 | 0 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 18 | 11 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 19 | 11 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 329 | 362 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 335 | 356 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Amortized Cost | 8,083 | 8,192 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 8,230 | 7,919 |
Debt Securities, Held-to-maturity | 8,430 | 8,565 |
Debt Securities, Held-to-maturity, Fair Value | $ 8,584 | $ 8,286 |
INVESTMENT SECURITIES AND OTH_5
INVESTMENT SECURITIES AND OTHER SECURITIES INVESTMENT SECURITIES AND OTHER SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 2,192 | $ 2,254 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 11 | 35 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 2,948 | 9,679 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (37) | (324) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 5,140 | 11,933 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (48) | (359) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 169 | 141 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 2 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 146 | 7,711 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | (279) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 315 | 7,852 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 3 | 281 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,287 | 425 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3 | 3 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,207 | 5,943 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (12) | (198) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,494 | 6,368 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (15) | (201) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 160 | 12 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 119 | 2,004 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | (47) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 279 | 2,016 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 3 | 47 |
Residential Mortgage Backed Securities [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 353 | 259 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 6 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 9 | 319 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (9) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 362 | 578 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1) | (15) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 16 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 1,457 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (42) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 0 | 1,473 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 0 | 42 |
Commercial Mortgage Backed Securities [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 80 | 10 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 401 | 1,573 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | (58) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 481 | 1,583 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1) | (58) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 27 | 4,041 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (186) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 27 | 4,041 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 0 | 186 |
Other Federal Agencies [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 124 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1 | 124 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 0 | (2) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 5 | 113 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 2 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 205 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (4) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 5 | 318 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 0 | 6 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,721 | 694 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | 9 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,617 | 7,959 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (13) | (267) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 3,338 | 8,653 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (17) | (276) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 165 | 141 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1 | 2 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 146 | 7,707 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (2) | (279) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 311 | 7,848 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 3 | 281 |
Municipal securities | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 403 | 1,425 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 7 | 24 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,238 | 1,602 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (23) | (54) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,641 | 3,027 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (30) | (78) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 4 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 0 | 4 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 4 | 4 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | 0 | 0 |
Asset-backed Securities [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 68 | 95 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 93 | 117 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 161 | 212 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1) | (4) |
Corporate Debt Securities [Member] | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 0 | 40 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | (1) |
Debt Securities, Available-for-sale, Unrealized Loss Position | 0 | 41 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 0 | $ (1) |
INVESTMENT SECURITIES AND OTH_6
INVESTMENT SECURITIES AND OTHER SECURITIES INVESTMENT SECURITIES AND OTHER SECURITIES - Gross Realized Gains (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Available-for-sale Securities, Gross Realized Gains | $ 0 | $ 0 | $ 9 | $ 6 |
Available-for-sale Securities, Gross Realized Losses | 0 | (2) | (11) | (8) |
Debt and Equity Securities, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $ 0 | $ (2) | $ (2) | $ (2) |
INVESTMENT SECURITIES AND OTH_7
INVESTMENT SECURITIES AND OTHER SECURITIES INVESTMENT SECURITIES AND OTHER SECURITIES - Securities Lending (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Investment Securities [Line Items] | |
Document Period End Date | Sep. 30, 2019 |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | $ 0 |
Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Available-for-sale Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Available-for-sale Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Available-for-sale Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Held-to-maturity Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Held-to-maturity Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Held-to-maturity Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Collateralized Mortgage Obligations [Member] | Held-to-maturity Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Residential Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Commercial Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Commercial Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Commercial Mortgage Backed Securities [Member] | Available-for-sale Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Commercial Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Commercial Mortgage Backed Securities [Member] | Held-to-maturity Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Available-for-sale Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Available-for-sale Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Available-for-sale Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Available-for-sale Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Held-to-maturity Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Held-to-maturity Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Held-to-maturity Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
Other Federal Agencies [Member] | Held-to-maturity Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Available-for-sale Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Available-for-sale Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Available-for-sale Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Available-for-sale Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Available-for-sale Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Held-to-maturity Securities [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Held-to-maturity Securities [Member] | Maturity Overnight and on Demand [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Held-to-maturity Securities [Member] | Maturity Less than 30 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Held-to-maturity Securities [Member] | Maturity 30 to 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | 0 |
US Government-sponsored Enterprises Debt Securities [Member] | Held-to-maturity Securities [Member] | Maturity Greater than 90 Days [Member] | |
Investment Securities [Line Items] | |
Securities Loaned, Gross Including Not Subject to Master Netting Arrangement | $ 0 |
INVESTMENT SECURITIES AND OTH_8
INVESTMENT SECURITIES AND OTHER SECURITIES - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |||||
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | $ 3,800 | $ 3,800 | $ 4,500 | ||
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings | $ 1 | $ 0 | 1 | $ 0 | |
Other-than-temporary Impairment Loss, Equity Securities, Portion Recognized in Earnings | $ 0 |
MORTGAGE LOAN SALES AND SERVI_3
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Narrative (Details) - Residential Mortgage - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Servicing Assets at Fair Value [Line Items] | |||||
Servicing income | $ 16 | $ 15 | $ 47 | $ 44 | |
Unpaid principal balance of third party serviced loans | $ 21,700 | $ 21,700 | $ 21,000 |
MORTGAGE LOAN SALES AND SERVI_4
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio (Details) - Commercial Loan [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Servicing Asset at Amortized Cost [Line Items] | ||||
Loans sold with servicing retained | $ 1,238 | $ 1,047 | $ 3,025 | $ 2,787 |
Pretax gains resulting from above loan sales | $ 26 | $ 24 | $ 61 | $ 64 |
MORTGAGE LOAN SALES AND SERVI_5
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio, MSRs Fair Value Method (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Residential Mortgage | ||
Servicing Asset at Fair Value, Amount [Roll Forward] | ||
Fair value, end of period: | $ 8 | $ 11 |
MORTGAGE LOAN SALES AND SERVI_6
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio, MSRs Amortization Method (Details) - Residential Mortgage - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||||
Carrying value, beginning of period | $ 184 | $ 204 | $ 211 | $ 191 |
New servicing assets created | 12 | 12 | 31 | 32 |
Impairment (charge) recovery | (11) | 0 | (38) | (7) |
Amortization and other | (13) | (8) | (32) | (22) |
Carrying value, end of period | 172 | 208 | 172 | 208 |
Fair value, end of period | $ 172 | $ 222 | $ 172 | $ 222 |
Amortization method | ||||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||||
Weighted-average life (years) | 4 years 10 months 24 days | 7 years 1 month 6 days | 4 years 10 months 24 days | 7 years 1 month 6 days |
MORTGAGE LOANS SALES AND SERVIC
MORTGAGE LOANS SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio, MSRs Amortization Method Key Assumptions (Details) - Amortization method - Residential Mortgage - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Servicing Asset at Amortized Cost [Line Items] | ||
Constant prepayment rate (annualized), actual | 15.60% | 9.40% |
Constant prepayment rate (annualized), 10% adverse change | $ (8) | $ (6) |
Constant prepayment rate (annualized), 20% adverse change | $ (15) | $ (12) |
Spread over forward interest rate swap rates, actual | 8.89% | 9.34% |
Spread over forward interest rate swap rates, 10% adverse change | $ (5) | $ (7) |
Spread over forward interest rate swap rates, 20% adverse change | $ (9) | $ (13) |
OPERATING LEASES - Net Operatin
OPERATING LEASES - Net Operating Lease Assets and Liabilities (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Leases [Abstract] | |
Document Period End Date | Sep. 30, 2019 |
Operating lease assets | $ 200 |
Lease liabilities | $ 225 |
OPERATING LEASES - Lease Cost (
OPERATING LEASES - Lease Cost (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 11 | $ 34 |
Sublease income | (1) | (2) |
Net lease cost | 10 | 33 |
Short-term Lease, Cost | $ 0 | $ 1 |
OPERATING LEASES - Maturity of
OPERATING LEASES - Maturity of Lease Liabilities (Details) $ in Millions | Sep. 30, 2019USD ($) |
Leases [Abstract] | |
2019 | $ 10 |
2020 | 50 |
2021 | 39 |
2022 | 34 |
2023 | 29 |
Thereafter | 105 |
Total lease payments | 267 |
Less: Interest | (42) |
Total lease liabilities | $ 225 |
OPERATING LEASES - Lease Cost a
OPERATING LEASES - Lease Cost and Discount Rate (Details) | 9 Months Ended |
Sep. 30, 2019Rate | |
Leases [Abstract] | |
Document Period End Date | Sep. 30, 2019 |
Weighted-average remaining lease term (years) | 7 years 4 months 28 days |
Weighted-average discount rate | 4.67% |
OPERATING LEASES - Supplemental
OPERATING LEASES - Supplemental Cash Flow Information (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ (41) |
Right-of-use assets obtained in exchange for lease obligations | $ 19 |
LONG-TERM DEBT (Details)
LONG-TERM DEBT (Details) - Senior Notes - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Aug. 01, 2019 | Jan. 29, 2019 | |
Huntington National Bank Senior Note Due February 2021, No Coupon Rate [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 300 | ||
Debt percent of value | 100.00% | ||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||
Huntington National Bank Senior Note Due April 2022, 3.125 Percent [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 500 | ||
Debt percent of value | 99.909% | ||
Debt stated interest rate | 3.125% | ||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||
Huntington National Bank Senior Note Due August 2024 2.625 Percent | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 800 | ||
Debt percent of value | 99.781% | ||
Debt stated interest rate | 2.625% | ||
Debt Instrument, Redemption Price, Percentage | 100.00% |
OTHER COMPREHENSIVE INCOME - Ac
OTHER COMPREHENSIVE INCOME - Activity (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ 1 | $ 1 | |||
Pretax | |||||
Other comprehensive income (loss), pretax | $ 126 | (77) | $ 556 | (334) | |
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | (28) | 16 | (122) | 73 | |
After-tax | |||||
Other comprehensive income (loss), net of tax | 98 | (61) | 434 | (261) | |
Other comprehensive income before reclassifications | 91 | (64) | 415 | (281) | |
Period change | 98 | (61) | 434 | (261) | |
Unrealized gains and (losses) on debt securities | Debt Securities | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (1) | ||||
Pretax | |||||
Other comprehensive income (loss), before reclassifications, before tax | 81 | (82) | 428 | (359) | |
Reclassification adjustment, before tax | 8 | 3 | 21 | 21 | |
Tax (Expense) Benefit | |||||
Other comprehensive income (loss) before reclassifications, tax | (18) | 18 | (95) | 78 | |
Reclassification adjustment, tax | (2) | (1) | (5) | (4) | |
After-tax | |||||
Other comprehensive income (loss), before reclassifications, net of tax | 63 | (64) | 333 | (281) | |
Reclassification adjustment, net of tax | 6 | 2 | 16 | 17 | |
Other comprehensive income (loss), net of tax | 69 | (62) | 349 | (264) | |
Other comprehensive income before reclassifications | 63 | (64) | 333 | (281) | |
Period change | 69 | (62) | 349 | (264) | |
AOCI Attributable to Parent [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Other Comprehensive Income, Other, Net of Tax | (1) | ||||
After-tax | |||||
Other comprehensive income (loss), net of tax | 98 | (61) | 434 | (261) | |
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member] | Equity Securities [Member] | |||||
After-tax | |||||
Other comprehensive income before reclassifications | 28 | 82 | |||
Period change | 28 | 82 | |||
Unrealized gains and (losses) on debt securities and Accumulated OTTI | Debt Securities | |||||
Pretax | |||||
Other comprehensive income (loss), pretax | 89 | (79) | 449 | (338) | |
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | (20) | 17 | (100) | 74 | |
Unrealized gains and (losses) on cash flow hedging derivatives | |||||
Pretax | |||||
Other comprehensive income (loss), pretax | 36 | 104 | |||
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | 22 | ||||
After-tax | |||||
Other comprehensive income (loss), net of tax | 82 | ||||
Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | (8) | ||||
After-tax | |||||
Other comprehensive income (loss), net of tax | 28 | ||||
Unrealized gains (losses) for pension and other post- retirement obligations | |||||
Pretax | |||||
Other comprehensive income (loss), pretax | 1 | 2 | 3 | 4 | |
Tax (Expense) Benefit | |||||
Total other comprehensive income (loss), tax (expense) benefit | 0 | (1) | 0 | (1) | |
After-tax | |||||
Other comprehensive income (loss), net of tax | 1 | 1 | 3 | 3 | |
Other comprehensive income before reclassifications | 0 | 0 | 0 | 0 | |
Period change | $ 1 | $ 1 | $ 3 | $ 3 |
OTHER COMPREHENSIVE INCOME OTHE
OTHER COMPREHENSIVE INCOME OTHER COMPREHENSIVE INCOME - AOCI Roll Forward (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2017 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Balance, beginning of period | $ 11,668 | $ 11,472 | $ 11,102 | $ 11,102 | $ 10,814 | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | 1 | 1 | ||||
Other comprehensive income before reclassifications | 91 | (64) | 415 | (281) | ||
Amounts reclassified from accumulated OCI to earnings | 7 | 3 | 19 | 20 | ||
Period change | 98 | (61) | 434 | (261) | ||
Balance, end of period | 11,909 | 10,934 | 11,668 | 11,909 | 10,934 | |
Unrealized gains and (losses) on debt securities | Debt Securities | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Balance, beginning of period | (83) | (482) | (363) | (363) | (278) | |
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | $ (1) | |||||
Other comprehensive income before reclassifications | 63 | (64) | 333 | (281) | ||
Amounts reclassified from accumulated OCI to earnings | 6 | 2 | 16 | 17 | ||
Period change | 69 | (62) | 349 | (264) | ||
Balance, end of period | (14) | (543) | (83) | (14) | (543) | |
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member] | Equity Securities [Member] | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Balance, beginning of period | 54 | 0 | 0 | |||
Other comprehensive income before reclassifications | 28 | 82 | ||||
Amounts reclassified from accumulated OCI to earnings | 0 | 0 | ||||
Period change | 28 | 82 | ||||
Balance, end of period | 82 | 54 | 82 | |||
Unrealized gains (losses) for pension and other post- retirement obligations | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Balance, beginning of period | (244) | (248) | (246) | (246) | (250) | |
Other comprehensive income before reclassifications | 0 | 0 | 0 | 0 | ||
Amounts reclassified from accumulated OCI to earnings | 1 | 1 | 3 | 3 | ||
Period change | 1 | 1 | 3 | 3 | ||
Balance, end of period | (243) | (247) | (244) | (243) | (247) | |
Accumulated Other Comprehensive Loss | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Balance, beginning of period | (273) | (730) | (609) | (609) | (528) | |
Balance, end of period | $ (175) | $ (790) | (273) | (175) | (790) | |
Reclassification out of Accumulated Other Comprehensive Income | ||||||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||||||
Net unrealized loss on securities transfer | $ (131) | $ (126) | $ (141) |
OTHER COMPREHENSIVE INCOME - Re
OTHER COMPREHENSIVE INCOME - Reclassifications (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | $ 54 | $ 52 | $ 164 | $ 159 |
Noninterest income - net gains (losses) on sale of securities | 0 | (2) | (2) | (2) |
Interest income - loans and leases | 889 | 848 | 2,692 | 2,414 |
Noninterest income | 42 | 40 | 140 | 119 |
Noninterest expense - personnel costs | (406) | (388) | (1,228) | (1,160) |
Income before income taxes | 439 | 440 | 1,287 | 1,237 |
Provision for income taxes | (67) | (62) | (193) | (178) |
Net income applicable to common shares | 354 | 360 | 1,039 | 1,008 |
Unrealized gains and (losses) on debt securities | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest income - held-to-maturity securities - taxable | (4) | (3) | (11) | (9) |
Noninterest income - net gains (losses) on sale of securities | (4) | 0 | (10) | (12) |
Unrealized gains and (losses) on debt securities and Accumulated OTTI | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (8) | (3) | (21) | (21) |
Provision for income taxes | 2 | 1 | 5 | 4 |
Net income applicable to common shares | (6) | (2) | (16) | (17) |
Amortization of defined benefit pension and post-retirement items: actuarial gains (losses) | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Noninterest expense - personnel costs | (1) | (2) | (4) | (6) |
Amortization of defined benefit pension and post-retirement items: Prior service credit | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Noninterest expense - personnel costs | 0 | 0 | 1 | 2 |
Unrealized gains (losses) for pension and other post- retirement obligations | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Income before income taxes | (1) | (2) | (3) | (4) |
Provision for income taxes | 0 | 1 | 0 | 1 |
Net income applicable to common shares | $ (1) | $ (1) | $ (3) | $ (3) |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Basic earnings per common share: | ||||
Net income | $ 372 | $ 378 | $ 1,094 | $ 1,059 |
Preferred stock dividends | (18) | (18) | (55) | (51) |
Net income available to common shareholders | $ 354 | $ 360 | $ 1,039 | $ 1,008 |
Average common shares issued and outstanding (in shares) | 1,034,940 | 1,084,536 | 1,042,246 | 1,090,570 |
Basic earnings per common share (in usd per share) | $ 0.34 | $ 0.33 | $ 1 | $ 0.92 |
Dilutive potential common shares: | ||||
Stock options and restricted stock units and awards | 11,930 | 15,655 | 12,681 | 17,105 |
Shares held in deferred compensation plans | 4,403 | 3,549 | 4,137 | 3,416 |
Dilutive impact of Preferred Stock | 0 | 0 | 0 | 5,887 |
Dilutive potential common shares | 16,333 | 19,204 | 16,818 | 26,408 |
Total diluted average common shares issued and outstanding (in shares) | 1,051,273 | 1,103,740 | 1,059,064 | 1,116,978 |
Diluted earnings per common share (in usd per share) | $ 0.34 | $ 0.33 | $ 0.98 | $ 0.90 |
Employee Stock Option | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Options outstanding to purchase common stock shares having antidilutive effect | 6,253 | 1,616 | 4,900 | 2,035 |
NONINTEREST INCOME - Summary of
NONINTEREST INCOME - Summary of Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenue from Contract with Customer [Abstract] | ||||
Noninterest income from contracts with customers | $ 240 | $ 222 | $ 697 | $ 654 |
Noninterest income within the scope of other GAAP topics | 149 | 120 | 385 | 338 |
Total noninterest income | $ 389 | $ 342 | $ 1,082 | $ 992 |
NONINTEREST INCOME - Disaggrega
NONINTEREST INCOME - Disaggregation by Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | $ 240 | $ 222 | $ 697 | $ 654 |
Noninterest income within the scope of other GAAP topics | 149 | 120 | 385 | 338 |
Noninterest income | 389 | 342 | 1,082 | 992 |
Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 98 | 93 | 277 | 270 |
Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 60 | 53 | 173 | 154 |
Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 44 | 42 | 131 | 128 |
Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 20 | 19 | 64 | 61 |
Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 18 | 15 | 52 | 41 |
Operating Segments | Consumer & Business Banking | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 160 | 150 | 457 | 436 |
Noninterest income within the scope of other GAAP topics | 63 | 44 | 139 | 121 |
Noninterest income | 223 | 194 | 596 | 557 |
Operating Segments | Consumer & Business Banking | Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 79 | 75 | 221 | 215 |
Operating Segments | Consumer & Business Banking | Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 56 | 50 | 162 | 146 |
Operating Segments | Consumer & Business Banking | Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 9 | 7 | 25 | 19 |
Operating Segments | Consumer & Business Banking | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 8 | 8 | 25 | 26 |
Operating Segments | Consumer & Business Banking | Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 8 | 10 | 24 | 30 |
Operating Segments | Commercial Banking | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 30 | 23 | 83 | 65 |
Noninterest income within the scope of other GAAP topics | 71 | 58 | 183 | 169 |
Noninterest income | 101 | 81 | 266 | 234 |
Operating Segments | Commercial Banking | Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 16 | 16 | 48 | 48 |
Operating Segments | Commercial Banking | Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 4 | 3 | 11 | 8 |
Operating Segments | Commercial Banking | Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 1 | 1 | 2 | 3 |
Operating Segments | Commercial Banking | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 2 | 1 | 5 | 3 |
Operating Segments | Commercial Banking | Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 7 | 2 | 17 | 3 |
Operating Segments | Vehicle Finance | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 4 | 2 | 9 | 6 |
Noninterest income within the scope of other GAAP topics | 0 | 1 | 0 | 3 |
Noninterest income | 4 | 3 | 9 | 9 |
Operating Segments | Vehicle Finance | Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 2 | 1 | 5 | 4 |
Operating Segments | Vehicle Finance | Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Operating Segments | Vehicle Finance | Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Operating Segments | Vehicle Finance | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Operating Segments | Vehicle Finance | Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 2 | 1 | 4 | 2 |
Operating Segments | RBPCG | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 46 | 46 | 144 | 144 |
Noninterest income within the scope of other GAAP topics | 1 | 0 | 3 | 2 |
Noninterest income | 47 | 46 | 147 | 146 |
Operating Segments | RBPCG | Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 1 | 1 | 3 | 3 |
Operating Segments | RBPCG | Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Operating Segments | RBPCG | Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 34 | 34 | 103 | 106 |
Operating Segments | RBPCG | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 10 | 10 | 33 | 31 |
Operating Segments | RBPCG | Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 1 | 1 | 5 | 4 |
Treasury / Other | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 1 | 4 | 3 |
Noninterest income within the scope of other GAAP topics | 14 | 17 | 60 | 43 |
Noninterest income | 14 | 18 | 64 | 46 |
Treasury / Other | Service charges on deposit accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Treasury / Other | Card and payment processing income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 0 | 0 |
Treasury / Other | Trust and investment management services | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 1 | 0 |
Treasury / Other | Insurance income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | 0 | 0 | 1 | 1 |
Treasury / Other | Other income | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income from contracts with customers | $ 0 | $ 1 | $ 2 | $ 2 |
FAIR VALUES OF ASSETS AND LIA_3
FAIR VALUES OF ASSETS AND LIABILITIES - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 963 | $ 613 |
Loans Receivable, Fair Value Disclosure | $ 80 | $ 79 |
FAIR VALUES OF ASSETS AND LIA_4
FAIR VALUES OF ASSETS AND LIABILITIES - Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Assets measured at fair value on a recurring basis | ||
Trading account securities | $ 118 | $ 105 |
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
Consumer loans | 80 | 79 |
Gross amounts of recognized assets | 1,123 | 500 |
Derivative assets netting | (546) | (291) |
Net amounts of assets presented in the condensed consolidated balance sheets | 577 | 209 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 631 | 404 |
Gross amounts offset in the condensed consolidated balance sheets | (504) | (217) |
Derivative liabilities | 127 | 187 |
Fair Value, Measurements, Recurring | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 118 | 105 |
Available-for-sale securities | 14,286 | 13,780 |
Other securities | 54 | 22 |
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
MSRs | 8 | 10 |
Derivative assets netting | (546) | (291) |
Net amounts of assets presented in the condensed consolidated balance sheets | 577 | 209 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts offset in the condensed consolidated balance sheets | (504) | (217) |
Derivative liabilities | 127 | 187 |
Fair Value, Measurements, Recurring | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 89 | 28 |
Available-for-sale securities | 3,152 | 3,440 |
Fair Value, Measurements, Recurring | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 29 | 77 |
Available-for-sale securities | 4 | 4 |
Fair Value, Measurements, Recurring | US Treasury Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 10 | 5 |
Fair Value, Measurements, Recurring | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 6,724 | 6,999 |
Fair Value, Measurements, Recurring | Residential Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 2,393 | 1,255 |
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,239 | 1,583 |
Fair Value, Measurements, Recurring | Other Federal Agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 117 | 126 |
Fair Value, Measurements, Recurring | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 595 | 315 |
Fair Value, Measurements, Recurring | Corporate Debt Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 52 | 53 |
Fair Value, Measurements, Recurring | Level 1 | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 29 | 78 |
Available-for-sale securities | 10 | 5 |
Other securities | 54 | 22 |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Consumer loans | 0 | 0 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 0 | 21 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 0 | 11 |
Fair Value, Measurements, Recurring | Level 1 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 1 |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 29 | 77 |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | US Treasury Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 10 | 5 |
Fair Value, Measurements, Recurring | Level 1 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Residential Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Commercial Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Other Federal Agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Corporate Debt Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 89 | 27 |
Available-for-sale securities | 11,127 | 10,610 |
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
Consumer loans | 53 | 49 |
MSRs | 0 | 0 |
Gross amounts of recognized assets | 1,112 | 474 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 628 | 390 |
Fair Value, Measurements, Recurring | Level 2 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 89 | 27 |
Available-for-sale securities | 58 | 275 |
Fair Value, Measurements, Recurring | Level 2 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 4 | 4 |
Fair Value, Measurements, Recurring | Level 2 | US Treasury Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 6,724 | 6,999 |
Fair Value, Measurements, Recurring | Level 2 | Residential Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 2,393 | 1,255 |
Fair Value, Measurements, Recurring | Level 2 | Commercial Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,239 | 1,583 |
Fair Value, Measurements, Recurring | Level 2 | Other Federal Agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 117 | 126 |
Fair Value, Measurements, Recurring | Level 2 | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 540 | 315 |
Fair Value, Measurements, Recurring | Level 2 | Corporate Debt Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 52 | 53 |
Fair Value, Measurements, Recurring | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 3,149 | 3,165 |
Loans Held-for-sale, Fair Value Disclosure | 0 | 0 |
Consumer loans | 27 | 30 |
MSRs | 8 | 10 |
Gross amounts of recognized assets | 11 | 5 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 3 | 3 |
Fair Value, Measurements, Recurring | Level 3 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 3,094 | 3,165 |
Fair Value, Measurements, Recurring | Level 3 | Other securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | US Treasury Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Federal agencies: Mortgage-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Residential Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Commercial Mortgage Backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Other Federal Agencies [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Asset-backed Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 55 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Corporate Debt Securities [Member] | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIA_5
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Roll Forward (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs | $ 8 | $ 1 | $ 8 | $ 1 | $ 2 | $ 1 |
Assets Level 3 Roll Forward: | ||||||
Transfers out of Level 3 (1) | (44) | (26) | ||||
Total gains/losses for the period: | ||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | 50 | 25 | ||||
Included in OCI | 23 | 68 | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Other Comprehensive Income (Loss) | 0 | 0 | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Purchases | 0 | 0 | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Sales | 0 | 0 | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Settlements | 0 | (3) | ||||
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss) | 6 | 1 | ||||
MSRs | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | ||||
Assets Level 3 Roll Forward: | ||||||
Opening balance | 9 | 11 | 10 | 11 | 11 | |
Transfers out of Level 3 (1) | 0 | 0 | ||||
Total gains/losses for the period: | ||||||
Included in earnings | (1) | 0 | (2) | 0 | ||
Included in OCI | 0 | 0 | 0 | 0 | ||
Purchases/originations | 0 | 0 | 0 | 0 | ||
Sales | 0 | 0 | 0 | 0 | ||
Repayments | 0 | 0 | 0 | 0 | ||
Settlements | 0 | 0 | 0 | 0 | ||
Closing balance | 8 | 11 | 8 | 11 | 10 | |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | (1) | 0 | (2) | 0 | ||
Derivative instruments | ||||||
Assets Level 3 Roll Forward: | ||||||
Opening balance | 9 | 1 | ||||
Transfers out of Level 3 (1) | (20) | (12) | ||||
Total gains/losses for the period: | ||||||
Included in earnings | (19) | (9) | ||||
Included in OCI | 0 | 0 | ||||
Purchases/originations | 0 | 0 | ||||
Sales | 0 | 0 | ||||
Repayments | 0 | 0 | 0 | 0 | ||
Settlements | 0 | (3) | ||||
Closing balance | 8 | 1 | 8 | 1 | ||
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | (1) | (3) | ||||
Municipal securities | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | ||||
Assets Level 3 Roll Forward: | ||||||
Opening balance | 3,202 | 3,178 | 3,165 | 3,167 | 3,167 | |
Transfers out of Level 3 (1) | 0 | 0 | ||||
Total gains/losses for the period: | ||||||
Included in earnings | (1) | (1) | (1) | (3) | ||
Included in OCI | 24 | 0 | 70 | 37 | ||
Purchases/originations | 28 | 260 | 136 | 539 | ||
Sales | 0 | 0 | 0 | 0 | ||
Repayments | 0 | 0 | 0 | 0 | ||
Settlements | (159) | (160) | (276) | (389) | ||
Closing balance | 3,094 | 3,277 | 3,094 | 3,277 | 3,165 | |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | 0 | 0 | 0 | ||
Asset-backed Securities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | ||||
Assets Level 3 Roll Forward: | ||||||
Opening balance | 0 | 0 | 24 | 24 | ||
Transfers out of Level 3 (1) | 0 | |||||
Total gains/losses for the period: | ||||||
Included in earnings | 0 | 0 | (2) | (2) | ||
Included in OCI | 0 | 0 | 11 | |||
Purchases/originations | 55 | 55 | 0 | |||
Sales | 0 | 0 | (33) | |||
Repayments | 0 | 0 | 0 | |||
Settlements | 0 | 0 | 0 | |||
Closing balance | 55 | 55 | 0 | |||
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | 0 | 0 | |||
Real Estate Loan [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | ||||
Assets Level 3 Roll Forward: | ||||||
Opening balance | 28 | 34 | 30 | 38 | 38 | |
Transfers out of Level 3 (1) | 0 | 0 | ||||
Total gains/losses for the period: | ||||||
Included in earnings | 0 | 0 | 0 | 0 | ||
Included in OCI | 0 | 0 | 0 | 0 | ||
Purchases/originations | 0 | 0 | 0 | 0 | ||
Sales | 0 | 0 | 0 | 0 | ||
Repayments | (1) | (2) | (3) | (6) | ||
Settlements | 0 | 0 | 0 | 0 | ||
Closing balance | 27 | 32 | 27 | 32 | 30 | |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | $ 0 | 0 | $ 0 | ||
Fair Value, Recurring [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | 14,286 | 14,286 | 13,780 | |||
Fair Value, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | 1,239 | 1,239 | 1,583 | |||
Fair Value, Recurring [Member] | Residential Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | 2,393 | 2,393 | 1,255 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | 11,127 | 11,127 | 10,610 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | 1,239 | 1,239 | 1,583 | |||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | Residential Mortgage Backed Securities [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||||
Available-for-sale securities | $ 2,393 | $ 2,393 | $ 1,255 |
FAIR VALUES OF ASSETS AND LIA_6
FAIR VALUES OF ASSETS AND LIABILITIES - Level 3 Classification of Gains/Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | $ 50 | $ 25 | |||
MSRs | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ (1) | $ 0 | (2) | 0 | |
Mortgage banking income | 1 | 0 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (1) | 0 | |||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | ||||
Derivative Financial Instruments | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Mortgage banking income | (19) | (9) | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (19) | (9) | |||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | 0 | ||||
Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (1) | (1) | (1) | (3) | |
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Other Expense | (1) | ||||
Mortgage banking income | 0 | 0 | |||
Fair Value, Assets and Liabilities Measured on Recurring Basis, Gain (Loss) Included in Earnings | (1) | $ (1) | |||
Fair Value Assets Measured On Recurring Basis Gain Loss Included In Interest and fee income | (1) | ||||
Asset-backed Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | 0 | (2) | $ (2) | |
Mortgage Banking Income [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | 50 | 25 | |||
Mortgage Banking Income [Member] | MSRs | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2) | 0 | |||
Mortgage Banking Income [Member] | Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ 0 | 0 | |||
Mortgage Banking Income [Member] | Asset-backed Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | ||||
Securities Gain (Losses) [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | 0 | ||||
Securities Gain (Losses) [Member] | MSRs | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | ||||
Securities Gain (Losses) [Member] | Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | ||||
Securities Gain (Losses) [Member] | Asset-backed Securities [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | (2) | ||||
Interest and Fee Income [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | 0 | ||||
Interest and Fee Income [Member] | MSRs | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | 0 | ||||
Interest and Fee Income [Member] | Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ (1) | ||||
Other Expense [Member] | Municipal securities | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings | $ (3) |
FAIR VALUES OF ASSETS AND LIA_7
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 963 | $ 613 |
Loans Receivable, Fair Value Disclosure | 80 | 79 |
Fair Value, Measurements, Recurring | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
Fair Value, Measurements, Recurring | Mortgages Held For Sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Held For Sale Unpaid Principal | 932 | 594 |
Difference | (31) | (19) |
Fair Value, Measurements, Recurring | Mortgages Held To Maturity | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 80 | 79 |
Loans Held To Maturity Unpaid Principal | 86 | 87 |
Difference | (6) | (8) |
Fair Value, Measurements, Recurring | 90 or more days | Mortgages Held For Sale | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Held-for-sale, Fair Value Disclosure | 1 | 0 |
Loans Held For Sale Unpaid Principal | 1 | 0 |
Difference | 0 | 0 |
Fair Value, Measurements, Recurring | 90 or more days | Mortgages Held To Maturity | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans Receivable, Fair Value Disclosure | 4 | 6 |
Loans Held To Maturity Unpaid Principal | 6 | 7 |
Difference | $ (2) | $ (1) |
FAIR VALUES OF ASSETS AND LIA_8
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option-Changs in Fair Value (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Measurements, Recurring | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net gains (losses) from fair value changes | $ 6 | $ (4) | $ 12 | $ (1) |
FAIR VALUES OF ASSETS AND LIA_9
FAIR VALUES OF ASSETS AND LIABILITIES - Non-Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | $ 118 | $ 105 | |
Loans held for sale | [1] | 1,064 | 804 |
Long-term debt | 9,874 | 8,625 | |
Held-to-maturity securities | 8,430 | 8,565 | |
Assets measured at fair value on a nonrecurring basis | |||
Net loans and direct financing leases | 74,109 | 74,128 | |
Loans Held-for-sale, Fair Value Disclosure | (963) | (613) | |
Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 118 | 105 | |
Loans held for sale | 1,067 | 806 | |
Available-for-sale securities | 14,286 | 13,780 | |
Long-term debt | 10,075 | 8,718 | |
Held-to-maturity securities | 8,584 | 8,286 | |
Other Securities | 455 | 565 | |
Assets measured at fair value on a nonrecurring basis | |||
Net loans and direct financing leases | 75,234 | 73,668 | |
Level 1 | Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 29 | 78 | |
Loans held for sale | 0 | 0 | |
Available-for-sale securities | 10 | 5 | |
Long-term debt | 0 | 0 | |
Held-to-maturity securities | 0 | 0 | |
Assets measured at fair value on a nonrecurring basis | |||
Net loans and direct financing leases | 0 | 0 | |
Level 2 | Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 89 | 27 | |
Loans held for sale | 963 | 613 | |
Available-for-sale securities | 11,127 | 10,610 | |
Long-term debt | 9,435 | 8,158 | |
Held-to-maturity securities | 8,584 | 8,286 | |
Assets measured at fair value on a nonrecurring basis | |||
Net loans and direct financing leases | 80 | 49 | |
Level 3 | Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Securities, Trading, and Equity Securities, FV-NI | 0 | 0 | |
Loans held for sale | 104 | 193 | |
Available-for-sale securities | 3,149 | 3,165 | |
Long-term debt | 640 | 560 | |
Held-to-maturity securities | 0 | 0 | |
Assets measured at fair value on a nonrecurring basis | |||
Net loans and direct financing leases | 75,154 | 73,619 | |
Nonrecurring Basis | |||
Assets measured at fair value on a nonrecurring basis | |||
Impaired loans | $ (33) | ||
Nonrecurring Basis | Fair Value | |||
Assets measured at fair value on a nonrecurring basis | |||
MSRs | 172 | ||
Impaired loans | (20) | ||
Loans Held-for-sale, Fair Value Disclosure | (36) | ||
Nonrecurring Basis | Total Gains/(Losses) | |||
Assets measured at fair value on a nonrecurring basis | |||
MSRs | (38) | ||
Impaired loans | (1) | ||
Loans Held-for-sale, Fair Value Disclosure | (13) | ||
Nonrecurring Basis | Level 1 | Fair Value | |||
Assets measured at fair value on a nonrecurring basis | |||
MSRs | 0 | ||
Impaired loans | 0 | ||
Nonrecurring Basis | Level 2 | Fair Value | |||
Assets measured at fair value on a nonrecurring basis | |||
MSRs | 0 | ||
Impaired loans | 0 | ||
Nonrecurring Basis | Level 3 | Fair Value | |||
Assets measured at fair value on a nonrecurring basis | |||
MSRs | 172 | ||
Impaired loans | (20) | ||
Loans Held-for-sale, Fair Value Disclosure | $ (36) | ||
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
FAIR VALUES OF ASSETS AND LI_10
FAIR VALUES OF ASSETS AND LIABILITIES - Significant Unobservable Level 3 Inputs (Details) $ in Millions | 3 Months Ended | |
Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Fair Value Disclosures [Abstract] | ||
Gross amounts of recognized assets | $ 1,123 | $ 500 |
Derivative Liability, Fair Value, Gross Liability | 631 | 404 |
Consumer loans | 80 | 79 |
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
MSRs | 8 | 10 |
Available-for-sale securities | 14,286 | 13,780 |
Loans Held-for-sale, Fair Value Disclosure | 963 | 613 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Impaired loans Fair Value Disclosure | 33 | |
Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
MSRs | 8 | 10 |
Gross amounts of recognized assets | 11 | 5 |
Derivative Liability, Fair Value, Gross Liability | 3 | 3 |
Available-for-sale securities | 3,149 | 3,165 |
Consumer loans | 27 | 30 |
Loans Held-for-sale, Fair Value Disclosure | $ 0 | $ 0 |
Weighted Average | Market Approach Valuation Technique | Level 3 | Derivative Financial Instruments, Liabilities [Member] | ||
Fair Value Disclosures [Abstract] | ||
Fair Value Inputs, Timing of the resolution of the litigation | Jun. 30, 2020 | |
Loans held for investment [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.12 | 0.09 |
Loans held for investment [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.06 | 0.09 |
Loans held for investment [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.09 | 0.09 |
Loans held for investment [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.06 | 0.07 |
Loans held for investment [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.09 | 0.09 |
Loans held for investment [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.06 | 0.09 |
Residential Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | $ 2,393 | $ 1,255 |
Residential Mortgage Backed Securities [Member] | Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | $ 0 | |
Residential Mortgage Backed Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.25 | 0.54 |
Residential Mortgage Backed Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.33 | |
Residential Mortgage Backed Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.11 | 0.11 |
Residential Mortgage Backed Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.11 | |
Residential Mortgage Backed Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0 | 0.06 |
Residential Mortgage Backed Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.12 | |
Residential Mortgage Backed Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.05 | 0.05 |
Residential Mortgage Backed Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.05 | |
Residential Mortgage Backed Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.09 | 0.08 |
Residential Mortgage Backed Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Constant Prepayment Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.16 | |
Residential Mortgage Backed Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.08 | 0.08 |
Residential Mortgage Backed Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Option Adjusted Spread [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.09 | |
Derivative Financial Instruments, Liabilities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Estimated Conversion Factor [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Derivative Liability, Measurement Input | 1.62 | 1.63 |
Derivative Financial Instruments, Liabilities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Estimated Growth Rate of Visa Class A Shares [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Derivative Liability, Measurement Input | 0.07 | 0.07 |
Derivative Financial Instruments, Liabilities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Derivative Liability, Measurement Input | 0.02 | 0.04 |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | $ 595 | $ 315 |
Asset-backed Securities [Member] | Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | 55 | 0 |
Municipal securities | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | 3,152 | 3,440 |
Municipal securities | Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | 3,094 | 3,165 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | 52 | 53 |
Corporate Debt Securities [Member] | Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Available-for-sale securities | $ 0 | $ 0 |
Corporate Debt Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.03 | 0.04 |
Corporate Debt Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.64 | 0.39 |
Corporate Debt Securities [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Loss Severity [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.80 | 0.90 |
Corporate Debt Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.02 | 0.04 |
Corporate Debt Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0 | 0 |
Corporate Debt Securities [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Loss Severity [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.05 | 0.05 |
Corporate Debt Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.02 | 0.04 |
Corporate Debt Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Default Rate [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.04 | 0.03 |
Corporate Debt Securities [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Loss Severity [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.24 | 0.25 |
Derivative Financial Instruments, Assets [Member] | Maximum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Net Market Price [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.14 | 0.23 |
Derivative Financial Instruments, Assets [Member] | Maximum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Estimated Pull Thru [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 1 | 1 |
Derivative Financial Instruments, Assets [Member] | Minimum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Net Market Price [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | (0.02) | (0.05) |
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.02 | |
Derivative Financial Instruments, Assets [Member] | Minimum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Estimated Pull Thru [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.01 | 0.01 |
Derivative Financial Instruments, Assets [Member] | Minimum | Market Approach Valuation Technique | Level 3 | Measurement Input, Estimated Pull Thru [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Disclosures [Abstract] | ||
Loans held for investment, Measurement Input | 0.90 | |
Derivative Financial Instruments, Assets [Member] | Weighted Average | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Net Market Price [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.02 | |
Derivative Financial Instruments, Assets [Member] | Weighted Average | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | Measurement Input, Estimated Pull Thru [Member] | Fair Value, Measurements, Recurring | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.92 | |
Loans held for sale [Member] | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 121 | |
Loans held for sale [Member] | Valuation Technique, Appraisal Value [Member] | Level 3 | Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Loans Held-for-sale, Fair Value Disclosure | $ 36 | $ 24 |
Loans held for sale [Member] | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Loans Held-for-sale, Measurement Input | 0.06 | |
Loans held for sale [Member] | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Loans Held-for-sale, Measurement Input | 0.05 | |
Loans held for sale [Member] | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | Measurement Input, Discount Rate [Member] | Fair Value, Measurements, Nonrecurring | ||
Fair Value Disclosures [Abstract] | ||
Loans Held-for-sale, Measurement Input | 0.05 |
FAIR VALUES OF ASSETS AND LI_11
FAIR VALUES OF ASSETS AND LIABILITIES - Balance Sheet Location (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Financial Assets: | |||
Trading account securities | $ 118 | $ 105 | |
Debt Securities, Held-to-maturity | 8,430 | 8,565 | |
Loans held for sale | [1] | 1,064 | 804 |
Net loans and direct financing leases | 74,109 | 74,128 | |
Derivatives | 577 | 209 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 82,395 | 84,774 | |
Short-term borrowings | 2,173 | 2,017 | |
Long-term borrowings | 9,874 | 8,625 | |
Derivatives | 127 | 187 | |
Reported Value Measurement [Member] | |||
Financial Assets: | |||
Cash and short term assets | 1,758 | 2,725 | |
Trading account securities | 118 | 105 | |
Available-for-sale securities | 14,286 | 13,780 | |
Debt Securities, Held-to-maturity | 8,430 | 8,565 | |
Other Securities | 455 | 565 | |
Loans held for sale | 1,064 | 804 | |
Net loans and direct financing leases | 74,109 | 74,128 | |
Derivatives | 577 | 209 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 82,395 | 84,774 | |
Short-term borrowings | 2,173 | 2,017 | |
Long-term borrowings | 9,874 | 8,625 | |
Derivatives | 127 | 187 | |
Estimate of Fair Value Measurement [Member] | |||
Financial Assets: | |||
Cash and short term assets | 1,758 | 2,725 | |
Trading account securities | 118 | 105 | |
Available-for-sale securities | 14,286 | 13,780 | |
Debt Securities, Held-to-maturity | 8,584 | 8,286 | |
Other Securities | 455 | 565 | |
Loans held for sale | 1,067 | 806 | |
Other securities (1) | 54 | 22 | |
Net loans and direct financing leases | 75,234 | 73,668 | |
Derivatives | 577 | 209 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 82,398 | 84,731 | |
Short-term borrowings | 2,173 | 2,017 | |
Long-term borrowings | 10,075 | 8,718 | |
Derivatives | 127 | 187 | |
Estimate of Fair Value Measurement [Member] | Level 1 | |||
Financial Assets: | |||
Trading account securities | 29 | 78 | |
Available-for-sale securities | 10 | 5 | |
Debt Securities, Held-to-maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Other securities (1) | 54 | 22 | |
Net loans and direct financing leases | 0 | 0 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 0 | 0 | |
Short-term borrowings | 0 | 1 | |
Long-term borrowings | 0 | 0 | |
Estimate of Fair Value Measurement [Member] | Level 2 | |||
Financial Assets: | |||
Trading account securities | 89 | 27 | |
Available-for-sale securities | 11,127 | 10,610 | |
Debt Securities, Held-to-maturity | 8,584 | 8,286 | |
Loans held for sale | 963 | 613 | |
Other securities (1) | 0 | 0 | |
Net loans and direct financing leases | 80 | 49 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 75,707 | 76,922 | |
Short-term borrowings | 0 | 0 | |
Long-term borrowings | 9,435 | 8,158 | |
Estimate of Fair Value Measurement [Member] | Level 3 | |||
Financial Assets: | |||
Trading account securities | 0 | 0 | |
Available-for-sale securities | 3,149 | 3,165 | |
Debt Securities, Held-to-maturity | 0 | 0 | |
Loans held for sale | 104 | 193 | |
Other securities (1) | 0 | 0 | |
Net loans and direct financing leases | 75,154 | 73,619 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 6,691 | 7,809 | |
Short-term borrowings | 2,173 | 2,016 | |
Long-term borrowings | 640 | 560 | |
Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Trading account securities | 118 | 105 | |
Available-for-sale securities | 14,286 | 13,780 | |
Derivatives | 577 | 209 | |
Financial Liabilities: | |||
Derivatives | 127 | 187 | |
Fair Value, Recurring [Member] | Level 1 | |||
Financial Assets: | |||
Trading account securities | 29 | 78 | |
Available-for-sale securities | 10 | 5 | |
Fair Value, Recurring [Member] | Level 2 | |||
Financial Assets: | |||
Trading account securities | 89 | 27 | |
Available-for-sale securities | 11,127 | 10,610 | |
Fair Value, Recurring [Member] | Level 3 | |||
Financial Assets: | |||
Trading account securities | 0 | 0 | |
Available-for-sale securities | 3,149 | 3,165 | |
Other securities | Fair Value, Recurring [Member] | |||
Financial Assets: | |||
Trading account securities | 29 | 77 | |
Available-for-sale securities | 4 | 4 | |
Other securities | Fair Value, Recurring [Member] | Level 1 | |||
Financial Assets: | |||
Trading account securities | 29 | 77 | |
Available-for-sale securities | 0 | 0 | |
Other securities | Fair Value, Recurring [Member] | Level 2 | |||
Financial Assets: | |||
Trading account securities | 0 | 0 | |
Available-for-sale securities | 4 | 4 | |
Other securities | Fair Value, Recurring [Member] | Level 3 | |||
Financial Assets: | |||
Trading account securities | 0 | 0 | |
Available-for-sale securities | 0 | 0 | |
Amortized Cost [Member] | Reported Value Measurement [Member] | |||
Financial Assets: | |||
Cash and short term assets | 1,758 | 2,725 | |
Debt Securities, Held-to-maturity | 8,430 | 8,565 | |
Other Securities | 401 | 543 | |
Net loans and direct financing leases | 74,029 | 74,049 | |
Financial Liabilities: | |||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 82,395 | 84,774 | |
Short-term borrowings | 2,173 | 2,017 | |
Long-term borrowings | 9,874 | 8,625 | |
Fair Value Fair Value Option [Member] | Reported Value Measurement [Member] | |||
Financial Assets: | |||
Trading account securities | 118 | 105 | |
Available-for-sale securities | 14,286 | 13,780 | |
Other Securities | 54 | 22 | |
Loans held for sale | 963 | 613 | |
Net loans and direct financing leases | 80 | 79 | |
Derivatives | 577 | 209 | |
Financial Liabilities: | |||
Derivatives | 127 | 187 | |
LowerOfCostOrMarket [Member] | Reported Value Measurement [Member] | |||
Financial Assets: | |||
Loans held for sale | $ 101 | $ 191 | |
[1] | (1) Amounts represent loans for which Huntington has elected the fair value option. See Note 11 " Fair Values of Assets and Liabilities ". |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019USD ($)group | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Derivative [Line Items] | |||||
Increase (decrease) to net interest income due to derivative adjustment | $ (16) | $ (11) | $ (44) | $ (25) | |
Fair value hedging adjustments | (104) | $ (127) | |||
Derivative, Notional Amount | 24,702 | 24,702 | 4,877 | ||
Credit risks from interest rate swaps used for trading purposes | 515 | 515 | 132 | ||
Derivative Liability | $ 127 | 127 | 187 | ||
Number of primary groups | group | 2 | ||||
Aggregate credit risk, net of collateral | $ 46 | 46 | 37 | ||
Investment securities and cash collateral pledged by Huntington | 109 | 109 | |||
Investment securities and cash collateral pledged to Huntington | 228 | 228 | |||
Swap | |||||
Derivative [Line Items] | |||||
Derivative Liability | 3 | 3 | |||
Derivative used in trading activity | |||||
Derivative [Line Items] | |||||
Net derivative asset (liability) | 87 | 87 | 92 | ||
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 30,000 | 30,000 | 26,000 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 572 | 572 | 0 | ||
Derivative, Fair Value, Net | 14 | 14 | (4) | ||
Fair Value Hedging | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 7,540 | 7,540 | 4,865 | ||
Cash Flow Hedging | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 17,162 | 17,162 | 12 | ||
Commitments to Sell Loans [Member] | |||||
Derivative [Line Items] | |||||
Commitments to sell residential real estate loans | 2,000 | 2,000 | $ 800 | ||
Loans Payable [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 17,150 | 17,150 | |||
Loans Payable [Member] | Fair Value Hedging | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 0 | 0 | |||
Loans Payable [Member] | Cash Flow Hedging | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 17,150 | $ 17,150 |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS - Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivatives, Fair Value [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Asset derivatives included in accrued income and other assets | |||||
Total contracts | $ 1,123 | $ 1,123 | $ 500 | ||
Liability derivatives included in accrued expenses and other liabilities | |||||
Total contracts | 631 | 631 | 404 | ||
Accrued income and other assets | |||||
Asset derivatives included in accrued income and other assets | |||||
Interest rate contracts designated as hedging instruments | 376 | 376 | 44 | ||
Interest rate contracts not designated as hedging instruments | 544 | 544 | 261 | ||
Foreign exchange contracts not designated as hedging instruments | 22 | 22 | 23 | ||
Commodities contracts not designated as hedging instruments | 178 | 178 | 172 | ||
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | 3 | 3 | 0 | ||
Total contracts | 1,123 | 1,123 | 500 | ||
Accrued expenses and other liabilities | |||||
Liability derivatives included in accrued expenses and other liabilities | |||||
Interest rate contracts designated as hedging instruments | 19 | 19 | 42 | ||
Interest rate contracts not designated as hedging instruments | 417 | 417 | 165 | ||
Foreign exchange contracts not designated as hedging instruments | 20 | 20 | 19 | ||
Commodities contracts not designated as hedging instruments | 172 | 172 | 168 | ||
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value | 3 | 3 | 10 | ||
Total contracts | 631 | 631 | $ 404 | ||
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 48 | $ 23 | 110 | $ 51 | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Capital markets fees [Domain] | Interest Rate Contract [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 15 | 11 | 38 | 30 | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Capital markets fees [Domain] | Foreign Exchange Contract [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 7 | 6 | 22 | 18 | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Capital markets fees [Domain] | Commodity Contract [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | 1 | (3) | 3 | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Mortgage Banking Income [Member] | Interest Rate Contract [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 28 | 5 | 52 | (3) | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Other noninterest income [Domain] | Interest Rate Floor [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (1) | 0 | 4 | 0 | |
Fair Value Hedging | Not Designated as Hedging Instrument [Member] | Other Expense [Member] | Equity Contract [Member] | |||||
Derivatives, Fair Value [Line Items] | |||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (2) | $ 0 | $ (3) | $ 3 |
DERIVATIVE FINANCIAL INSTRUME_5
DERIVATIVE FINANCIAL INSTRUMENTS - Gain (Loss) (Details) - Not Designated as Hedging Instrument [Member] - Fair Value Hedging - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 48 | $ 23 | $ 110 | $ 51 |
Interest Rate Contract [Member] | Capital markets fees [Domain] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 15 | 11 | 38 | 30 |
Interest Rate Contract [Member] | Mortgage Banking Income [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 28 | 5 | 52 | (3) |
Interest Rate Floor [Member] | Other noninterest income [Domain] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (1) | 0 | 4 | 0 |
Foreign Exchange Contract [Member] | Capital markets fees [Domain] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 7 | 6 | 22 | 18 |
Commodity Contract [Member] | Capital markets fees [Domain] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | 1 | (3) | 3 |
Equity Contract [Member] | Other Expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (2) | $ 0 | $ (3) | $ 3 |
DERIVATIVE FINANCIAL INSTRUME_6
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Management (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Credit Derivatives [Line Items] | |||
Document Period End Date | Sep. 30, 2019 | ||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | $ 24,702 | $ 24,702 | $ 4,877 |
Fair Value Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 7,540 | 7,540 | 4,865 |
Cash Flow Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 17,162 | 17,162 | 12 |
Loans Payable [Member] | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 17,150 | 17,150 | |
Loans Payable [Member] | Fair Value Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 0 | 0 | |
Loans Payable [Member] | Cash Flow Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 17,150 | 17,150 | |
Securities Investment [Member] | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 12 | 12 | 12 |
Securities Investment [Member] | Fair Value Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 0 | 0 | 0 |
Securities Investment [Member] | Cash Flow Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 12 | 12 | 12 |
Other long-term debt | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 7,540 | 7,540 | 4,865 |
Other long-term debt | Fair Value Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 7,540 | 7,540 | 4,865 |
Other long-term debt | Cash Flow Hedging | |||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | $ 0 | $ 0 | $ 0 |
Asset conversion swaps Receive Fixed Generic | |||
Credit Derivatives [Line Items] | |||
Derivative, Average Remaining Maturity | 3 years 6 months | 3 years 6 months | 1 year 2 months 12 days |
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | $ 8,287 | $ 8,287 | $ 12 |
Liability conversion swaps Receive Fixed Generic | |||
Credit Derivatives [Line Items] | |||
Derivative, Average Remaining Maturity | 2 years 6 months | 2 years 7 months 6 days | |
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 7,540 | $ 7,540 | $ 4,865 |
Interest Rate Floor [Member] | |||
Credit Derivatives [Line Items] | |||
Derivative, Average Remaining Maturity | 1 year 7 months 6 days | ||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | 8,875 | $ 8,875 | |
Interest Rate Floor [Member] | Assigned [Member] | |||
Credit Derivatives [Line Items] | |||
Derivative, Average Remaining Maturity | 1 year 7 months 6 days | ||
Notional Disclosures [Abstract] | |||
Derivative, Notional Amount | $ 8,875 | $ 8,875 | |
Interest Rate Floor [Member] | Unassigned [Member] | |||
Credit Derivatives [Line Items] | |||
Derivative, Average Remaining Maturity | 0 years |
DERIVATIVE FINANCIAL INSTRUME_7
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Managemen Add Info (Details Add Info) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivative [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Derivative, Notional Amount | $ 24,702 | $ 24,702 | $ 4,877 | ||
Increase decrease to net interest income due to derivative adjustment | (16) | $ (11) | (44) | $ (25) | |
Asset conversion swaps - Receive Fixed - Generic | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 8,287 | $ 8,287 | $ 12 | ||
Derivative, Average Remaining Maturity | 3 years 6 months | 3 years 6 months | 1 year 2 months 12 days | ||
Fair Value | $ 106 | $ 106 | $ 0 | ||
Weighted-Average Rate Receive | 1.69% | 1.69% | 2.20% | ||
Weighted-Average Rate Pay | 1.33% | 1.33% | 2.46% | ||
Liability conversion swaps - Receive Fixed - Generic | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 7,540 | $ 7,540 | $ 4,865 | ||
Derivative, Average Remaining Maturity | 2 years 6 months | 2 years 7 months 6 days | |||
Fair Value | $ 191 | $ 191 | $ 2 | ||
Weighted-Average Rate Receive | 2.20% | 2.20% | 2.24% | ||
Weighted-Average Rate Pay | 2.08% | 2.08% | 2.54% | ||
Interest Rate Swap [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 15,827 | $ 15,827 | $ 4,877 | ||
Derivative, Average Remaining Maturity | 3 years | 2 years 7 months 6 days | |||
Fair Value | $ 297 | $ 297 | $ 2 | ||
Weighted-Average Rate Receive | 1.93% | 1.93% | 2.24% | ||
Weighted-Average Rate Pay | 1.69% | 1.69% | 2.54% | ||
Interest Rate Floor [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | $ 8,875 | $ 8,875 | |||
Derivative, Average Remaining Maturity | 1 year 7 months 6 days | ||||
Fair Value | 60 | $ 60 | |||
Assigned [Member] | Interest Rate Floor [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Notional Amount | 8,875 | $ 8,875 | |||
Derivative, Average Remaining Maturity | 1 year 7 months 6 days | ||||
Fair Value | $ 60 | $ 60 | |||
Unassigned [Member] | Interest Rate Floor [Member] | |||||
Derivative [Line Items] | |||||
Derivative, Average Remaining Maturity | 0 years |
DERIVATIVE FINANCIAL INSTRUME_8
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value Hedges (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Fair value hedging adjustments | $ 104 | $ 127 | |||
Fair Value Hedge Liabilities | $ 7,835 | 7,835 | 4,845 | ||
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | 150 | 150 | $ (12) | ||
Interest expense subordinated notes and other long term debt [Member] | Subordinated notes [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | 36 | $ (11) | 165 | $ 55 | |
Interest expense subordinated notes and other long term debt [Member] | Hedged Subordinated notes [Member] | |||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||
Increase (Decrease) in Fair Value of Hedged Item in Interest Rate Fair Value Hedge | $ (32) | $ 12 | $ (162) | $ (49) |
DERIVATIVE FINANCIAL INSTRUME_9
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 24,702 | $ 4,877 |
Cash Flow Hedging | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 17,162 | $ 12 |
Loans Payable [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 17,150 | |
Loans Payable [Member] | Cash Flow Hedging | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 17,150 |
DERIVATIVE FINANCIAL INSTRUM_10
DERIVATIVE FINANCIAL INSTRUMENTS - MSR Hedging Activities (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
MSR Derivative Hedging [Table Text Block] | The notional value of the derivative financial instruments, corresponding trading assets and liabilities, and net trading gains (losses) related to MSR hedging activity is summarized in the following table: (dollar amounts in millions) September 30, 2019 December 31, 2018 Notional value $ 572 $ — Trading assets 30 — Trading liabilities (1 ) — Three Months Ended September 30, Nine Months Ended September 30, (dollar amounts in millions) 2019 2018 2019 2018 Trading gains (losses) $ 20 $ — $ 44 $ (8 ) | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Document Period End Date | Sep. 30, 2019 | ||||
Derivative, Notional Amount | $ 24,702 | $ 24,702 | $ 4,877 | ||
Derivative used in Mortgage Banking Activities | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Derivative, Fair Value, Net | 14 | 14 | (4) | ||
Derivative, Notional Amount | 572 | 572 | 0 | ||
Trading Assets | 30 | 30 | 0 | ||
Trading Liabilities | (1) | (1) | $ 0 | ||
Derivative, Gain (Loss) on Derivative, Net | $ 20 | $ 0 | $ 44 | $ (8) |
DERIVATIVE FINANCIAL INSTRUM_11
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Assets (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Document Period End Date | Sep. 30, 2019 | |
Offsetting Derivative Assets [Abstract] | ||
Gross amounts of recognized assets | $ 1,123 | $ 500 |
Gross amounts offset in the condensed consolidated balance sheets | 546 | 291 |
Net amounts of assets presented in the condensed consolidated balance sheets | 577 | 209 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | (15) | (4) |
Gross amounts not offset in the condensed consolidated balance sheets, cash collateral received | (31) | (53) |
Net amount | $ 531 | $ 152 |
DERIVATIVE FINANCIAL INSTRUM_12
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Liabilities (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Document Period End Date | Sep. 30, 2019 | |
Offsetting Derivative Liabilities [Abstract] | ||
Gross amounts of recognized liabilities | $ 631 | $ 404 |
Gross amounts offset in the condensed consolidated balance sheets | (504) | (217) |
Derivative liabilities | 127 | 187 |
Gross amounts not offset in the condensed consolidated balance sheets, Financial instruments | 0 | 0 |
Gross amounts not offset in the condensed consolidated balance sheets, Cash collateral received | (23) | (12) |
Net amount | $ 104 | $ 175 |
VIEs - Narrative (Details)
VIEs - Narrative (Details) | 3 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Maximum year to defer payment of interest on Debenture | 5 years |
VIEs - Unconsolidated VIEs (Det
VIEs - Unconsolidated VIEs (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Trust Preferred Securities | ||
Variable Interest Entity [Line Items] | ||
Total Assets | $ 14 | $ 14 |
Total Liabilities | 252 | 252 |
Maximum Exposure to Loss | 0 | 0 |
Affordable Housing Tax Credit Partnerships | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 714 | 708 |
Total Liabilities | 338 | 357 |
Maximum Exposure to Loss | 714 | 708 |
Other Investments | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 157 | 126 |
Total Liabilities | 64 | 53 |
Maximum Exposure to Loss | 157 | 126 |
Total | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 885 | 848 |
Total Liabilities | 654 | 662 |
Maximum Exposure to Loss | $ 871 | $ 834 |
VIEs - Trust preferred Securiti
VIEs - Trust preferred Securities (Details) $ in Millions | 3 Months Ended |
Sep. 30, 2019USD ($) | |
Summary of Outstanding Trust Preferred Securities | |
Principal amount of subordinated note/ debenture issued to trust | $ 252 |
Investment in unconsolidated subsidiary | $ 14 |
Huntington Capital I | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.79% |
Principal amount of subordinated note/ debenture issued to trust | $ 70 |
Investment in unconsolidated subsidiary | $ 6 |
Huntington Capital I | London Interbank Offered Rate (LIBOR) | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.70% |
Huntington Capital II | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 2.71% |
Principal amount of subordinated note/ debenture issued to trust | $ 32 |
Investment in unconsolidated subsidiary | $ 3 |
Huntington Capital II | London Interbank Offered Rate (LIBOR) | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 0.625% |
Sky Financial Capital Trust III | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 3.49% |
Principal amount of subordinated note/ debenture issued to trust | $ 72 |
Investment in unconsolidated subsidiary | $ 2 |
Sky Financial Capital Trust III | London Interbank Offered Rate (LIBOR) | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.40% |
Sky Financial Capital Trust IV | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 3.49% |
Principal amount of subordinated note/ debenture issued to trust | $ 74 |
Investment in unconsolidated subsidiary | $ 2 |
Camco Financial Trust | |
Summary of Outstanding Trust Preferred Securities | |
Interest rate on Trust Preferred Securities | 3.42% |
Principal amount of subordinated note/ debenture issued to trust | $ 4 |
Investment in unconsolidated subsidiary | $ 1 |
Camco Financial Trust | London Interbank Offered Rate (LIBOR) | |
Summary of Outstanding Trust Preferred Securities (Textuals) [Abstract] | |
Rate spread over three month LIBOR | 1.33% |
VIEs - Low Income Housing Tax C
VIEs - Low Income Housing Tax Credit Partnership (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Low Income Housing Tax Credit Partnerships | |||||
Variable Interest Entity [Line Items] | |||||
Affordable housing tax credit investments | $ 1,219 | $ 1,219 | $ 1,147 | ||
Less: amortization | (505) | (505) | (439) | ||
Net affordable housing tax credit investments | 714 | 714 | 708 | ||
Unfunded commitments | 338 | 338 | $ 357 | ||
Tax credits and other tax benefits recognized | 26 | $ 24 | 79 | $ 70 | |
Proportional Amortization Method | |||||
Variable Interest Entity [Line Items] | |||||
Proportional amortization expense included in provision for income taxes | $ 22 | $ 19 | $ 66 | $ 59 |
COMMITMENTS AND CONTINGENT LI_3
COMMITMENTS AND CONTINGENT LIABILITIES - Commitments to Extend Credit (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Commercial | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 18,345 | $ 17,149 |
Consumer | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 14,754 | 14,974 |
Commercial Real Estate [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 1,410 | 1,188 |
Standby letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | 624 | 676 |
Commercial | Commercial letters-of-credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Contract amount represents credit risk | $ 10 | $ 14 |
COMMITMENTS AND CONTINGENT LI_4
COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Loss Contingencies [Line Items] | ||
Maturity period of majority of standby letters of credit | P2Y | |
Maturity period of Commercial letters of credit | P90D | |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Carrying amount of deferred revenue associated with guarantees | $ 10 | $ 13 |
Outstanding standby letters of credit | 624 | $ 676 |
Maximum | ||
Loss Contingencies [Line Items] | ||
Aggregate range of reasonably possible losses current legal proceedings | 20 | |
Minimum | ||
Loss Contingencies [Line Items] | ||
Aggregate range of reasonably possible losses current legal proceedings | $ 0 |
SEGMENT REPORTING (Details)
SEGMENT REPORTING (Details) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019USD ($)reporting_unitsegments | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($) | |
Segment Reporting Information [Line Items] | |||||
Number of reporting segments | segments | 4 | ||||
Maximum business banking customer's revenue | $ 20 | ||||
Net interest income | 799 | $ 802 | $ 2,433 | $ 2,356 | |
Provision (reduction in allowance) for credit losses | (82) | (53) | (208) | (175) | |
Noninterest income | 389 | 342 | 1,082 | 992 | |
Noninterest expense | 667 | 651 | 2,020 | 1,936 | |
Provision (benefit) for income taxes | 67 | 62 | 193 | 178 | |
Net income | 372 | 378 | 1,094 | 1,059 | |
Assets | 108,735 | 108,735 | $ 108,781 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | $ 82,395 | 82,395 | 84,774 | ||
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Number of reporting units | reporting_unit | 6 | ||||
Operating Segments | Consumer & Business Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | $ 433 | 445 | 1,371 | 1,254 | |
Provision (reduction in allowance) for credit losses | (35) | (41) | (81) | (98) | |
Noninterest income | 223 | 194 | 596 | 557 | |
Noninterest expense | 421 | 424 | 1,247 | 1,263 | |
Provision (benefit) for income taxes | 42 | 38 | 134 | 95 | |
Net income | 158 | 136 | 505 | 355 | |
Assets | 25,418 | 25,418 | 27,486 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 51,671 | 51,671 | 50,300 | ||
Operating Segments | Commercial Banking | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 263 | 259 | 798 | 744 | |
Provision (reduction in allowance) for credit losses | (36) | 1 | (103) | (41) | |
Noninterest income | 101 | 81 | 266 | 234 | |
Noninterest expense | 142 | 121 | 427 | 364 | |
Provision (benefit) for income taxes | 39 | 46 | 113 | 120 | |
Net income | 147 | 174 | 421 | 453 | |
Assets | 34,368 | 34,368 | 34,818 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 21,088 | 21,088 | 23,185 | ||
Operating Segments | Vehicle Finance [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 100 | 97 | 291 | 294 | |
Provision (reduction in allowance) for credit losses | (12) | (13) | (27) | (36) | |
Noninterest income | 4 | 3 | 9 | 9 | |
Noninterest expense | 36 | 35 | 112 | 106 | |
Provision (benefit) for income taxes | 12 | 11 | 33 | 34 | |
Net income | 44 | 41 | 128 | 127 | |
Assets | 19,414 | 19,414 | 19,435 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 363 | 363 | 346 | ||
Operating Segments | RBPCG | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | 48 | 51 | 153 | 148 | |
Provision (reduction in allowance) for credit losses | 1 | 0 | 3 | 0 | |
Noninterest income | 47 | 46 | 147 | 146 | |
Noninterest expense | 63 | 60 | 193 | 180 | |
Provision (benefit) for income taxes | 7 | 6 | 23 | 24 | |
Net income | 26 | 31 | 87 | 90 | |
Assets | 6,593 | 6,593 | 6,540 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | 6,101 | 6,101 | 6,809 | ||
Treasury / Other | |||||
Segment Reporting Information [Line Items] | |||||
Net interest income | (45) | (50) | (180) | (84) | |
Provision (reduction in allowance) for credit losses | 0 | 0 | 0 | 0 | |
Noninterest income | 14 | 18 | 64 | 46 | |
Noninterest expense | 5 | 11 | 41 | 23 | |
Provision (benefit) for income taxes | (33) | (39) | (110) | (95) | |
Net income | (3) | $ (4) | (47) | $ 34 | |
Assets | 22,942 | 22,942 | 20,502 | ||
Deposits (includes $0 and $872 respectively, classified as held-for-sale) | $ 3,172 | $ 3,172 | $ 4,134 |