Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 31, 2019 | Jun. 30, 2018 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | HUNTINGTON BANCSHARES INC/MD | ||
Entity Central Index Key | 49,196 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Shell Company | false | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Public Float | $ 16,029,310,082 | ||
Entity Common Stock, Shares Outstanding | 1,046,813,306 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 1,108 | $ 1,212 |
Interest-bearing deposits at Federal Reserve Bank | 1,564 | 308 |
Interest-bearing deposits in banks | 53 | 47 |
Trading account securities | 105 | 86 |
Debt Securities, Available-for-sale | 13,780 | 14,869 |
Debt Securities, Held-to-maturity | 8,565 | 9,091 |
Equity Securities, FV-NI | 565 | 600 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 804 | 488 |
Loans and leases (includes $79 and $93 respectively, measured at fair value)(1) | 74,900 | 70,117 |
Allowance for loan and lease losses | (772) | (691) |
Net loans and leases | 74,128 | 69,426 |
Bank owned life insurance | 2,507 | 2,466 |
Premises and equipment | 790 | 864 |
Goodwill | 1,989 | 1,993 |
Other Intangible Assets, Net | 535 | 584 |
Other assets | 2,288 | 2,151 |
Total assets | 108,781 | 104,185 |
Deposits in domestic offices | ||
Demand deposits—noninterest-bearing (includes $210 classified as held-for-sale at December 31, 2018) | 21,783 | 21,546 |
Interest-bearing (includes $662 classified as held-for-sale at December 31, 2018) | 62,991 | 55,495 |
Deposits | 84,774 | 77,041 |
Short-term borrowings | 2,017 | 5,056 |
Long-term debt | 8,625 | 9,206 |
Other liabilities | 2,263 | 2,068 |
Total liabilities | 97,679 | 93,371 |
Commitments and contingencies | ||
Shareholders’ equity | ||
Preferred stock | 1,203 | 1,071 |
Common stock | 11 | 11 |
Capital surplus | 9,181 | 9,707 |
Less treasury shares, at cost | (45) | (35) |
Accumulated other comprehensive loss | (609) | (528) |
Retained earnings | 1,361 | 588 |
Total shareholders’ equity | 11,102 | 10,814 |
Total liabilities and shareholders’ equity | $ 108,781 | $ 104,185 |
Common shares authorized (par value of $0.01) (in shares) | 1,500,000,000 | 1,500,000,000 |
Common shares outstanding (in shares) | 1,046,767,252 | 1,072,026,681 |
Treasury shares outstanding (in shares) | 3,817,385 | 3,268,265 |
Preferred Stock, Shares Authorized | 6,617,808 | 6,617,808 |
Preferred shares outstanding (in shares) | 740,500 | 1,098,006 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Loans held for sale, fair value | $ 613 | $ 413 |
Loans and Leases Receivable, Gross | 74,900 | 70,117 |
Liabilities | ||
Demand Deposits, Noninterest-Bearing, Held-for-Sale | 210 | 0 |
Demand Deposits, Interest-Bearing, Held-for-Sale | $ 662 | $ 0 |
Shareholders’ equity | ||
Common stock, par value (in usd per share) | $ 0.01 | $ 0.01 |
Fair Value | ||
Assets | ||
Loans and Leases Receivable, Gross | $ 79 | $ 93 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest and fee income: | |||
Loans and leases | $ 3,305 | $ 2,838 | $ 2,178 |
Available-for-sale securities | |||
Taxable | 279 | 283 | 211 |
Tax-exempt | 97 | 77 | 59 |
Held-to-maturity securities-taxable | 211 | 193 | 138 |
Interest Income, Securities, Operating, Other, Taxable | 25 | 20 | 12 |
Other interest income | 32 | 22 | 34 |
Total interest income | 3,949 | 3,433 | 2,632 |
Interest expense | |||
Deposits | 391 | 180 | 102 |
Short-term borrowings | 48 | 25 | 5 |
Long-term debt | 321 | 226 | 156 |
Total interest expense | 760 | 431 | 263 |
Net interest income | 3,189 | 3,002 | 2,369 |
Provision for credit losses | 235 | 201 | 191 |
Net interest income after provision for credit losses | 2,954 | 2,801 | 2,178 |
Service charges on deposit accounts | 364 | 353 | 324 |
Card and payment processing income | 224 | 206 | 169 |
Fees and Commissions, Fiduciary and Trust Activities | 171 | 156 | 123 |
Mortgage banking income | 108 | 131 | 128 |
Capital markets fees | 91 | 76 | 60 |
Insurance income | 82 | 81 | 84 |
Bank owned life insurance income | 67 | 67 | 58 |
Gain on sale of loans and leases | 55 | 56 | 47 |
Net (losses) gains on sales of securities | (21) | 0 | 2 |
Impairment losses recognized in earnings on available-for-sale securities | 0 | (4) | (2) |
Other income | 180 | 185 | 157 |
Total noninterest income | 1,321 | 1,307 | 1,150 |
Personnel costs | 1,559 | 1,524 | 1,349 |
Outside data processing and other services | 294 | 313 | 305 |
Net occupancy | 184 | 212 | 153 |
Equipment | 164 | 171 | 165 |
Deposit and other insurance expense | 63 | 78 | 54 |
Professional services | 60 | 69 | 105 |
Marketing | 53 | 60 | 63 |
Amortization of intangibles | 53 | 56 | 30 |
Other expense | 217 | 231 | 184 |
Total noninterest expense | 2,647 | 2,714 | 2,408 |
Income before income taxes | 1,628 | 1,394 | 920 |
Provision for income taxes | 235 | 208 | 208 |
Net income | 1,393 | 1,186 | 712 |
Dividends on preferred shares | 70 | 76 | 65 |
Net income available to common shareholders | $ 1,323 | $ 1,110 | $ 647 |
Average common shares—basic (in shares) | 1,081,542 | 1,084,686 | 904,438 |
Average common shares—diluted (in shares) | 1,105,985 | 1,136,186 | 918,790 |
Per common share: | |||
Net income - basic (in USD per share) | $ 1.22 | $ 1.02 | $ 0.72 |
Net income - diluted (in USD per share) | $ 1.20 | $ 1 | $ 0.70 |
Impairment losses on available-for-sale securities: | |||
Total OTTI losses | $ 0 | $ (4) | $ (6) |
Noncredit-related portion of loss recognized in other comprehensive income | 0 | 0 | 4 |
Impairment losses recognized in earnings on available-for-sale securities | $ 0 | $ (4) | $ (2) |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 1,393 | $ 1,186 | $ 712 |
Other than Temporary Impairment Losses, Investments, Portion in Other Comprehensive Loss, Net of Tax, Portion Attributable to Parent | 0 | 2 | 1 |
Unrealized gains (losses) on available-for-sale and other securities: | |||
Unrealized net gains (losses) on available-for-sale and other securities arising during the period, net of reclassification for net realized gains and losses | 84 | 39 | 202 |
Total unrealized gains (losses) on available-for-sale securities | (84) | (37) | (201) |
Unrealized gains on cash flow hedging derivatives, net of reclassifications to income | 0 | 3 | 1 |
Change in accumulated unrealized gains (losses) for pension and other post-retirement obligations | 4 | 0 | 25 |
Other comprehensive loss, net of tax | (80) | (34) | (175) |
Comprehensive income | $ 1,313 | $ 1,152 | $ 537 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Millions | Total | Preferred Stock | Common Stock | Capital Surplus | Treasury Stock | Accumulated Other Comprehensive Loss | Retained Earnings (Deficit) | Series A Preferred Stock | Series A Preferred StockRetained Earnings (Deficit) | Common Stock | Common StockCommon Stock | Common StockCapital Surplus | Series E Preferred Stock [Member] | Series E Preferred Stock [Member]Retained Earnings (Deficit) | Series B Preferred Stock | Series B Preferred StockRetained Earnings (Deficit) | Series C Preferred Stock | Series C Preferred StockCapital Surplus | Series C Preferred StockRetained Earnings (Deficit) | Series D Preferred Stock | Series D Preferred StockRetained Earnings (Deficit) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Shares, Outstanding | 796,970 | 2,041 | |||||||||||||||||||
Beginning balance at Dec. 31, 2015 | $ 6,595 | $ 8 | $ 7,039 | $ (18) | $ (226) | $ (594) | $ 386 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Net income | 712 | 712 | |||||||||||||||||||
Other comprehensive income (loss) | (175) | (175) | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 285,425 | ||||||||||||||||||||
Issuance of preferred stock | 104 | $ 2,767 | $ 3 | $ 2,764 | $ 100 | $ 4 | $ 585 | ||||||||||||||
Cash dividends declared: | |||||||||||||||||||||
Dividends, Common Stock, Cash | (275) | (275) | |||||||||||||||||||
Dividends, Preferred Stock, Cash | (31) | $ (31) | $ (1) | $ (1) | (3) | $ (3) | (31) | $ (31) | |||||||||||||
Recognition of the fair value of share-based compensation | 66 | 66 | |||||||||||||||||||
Other share-based compensation activity (in shares) | 5,924 | ||||||||||||||||||||
Other share-based compensation activity | 1 | $ 0 | $ 5 | (4) | |||||||||||||||||
Other (in shares) | 322 | 3,000 | (912) | ||||||||||||||||||
Other | (6) | $ 0 | $ (9) | ||||||||||||||||||
Ending balance at Dec. 31, 2016 | 10,308 | $ 11 | $ 9,881 | $ (27) | (401) | (227) | 1,071 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Shares, Outstanding | 1,088,641 | 2,953 | |||||||||||||||||||
Net income | 1,186 | 1,186 | |||||||||||||||||||
Other comprehensive income (loss) | (34) | (34) | |||||||||||||||||||
Repurchase of common stock (in shares) | (19,430) | ||||||||||||||||||||
Repurchase of common stock | (260) | $ 0 | (260) | ||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||
Dividends, Common Stock, Cash | (379) | (379) | |||||||||||||||||||
Dividends, Preferred Stock, Cash | (31) | $ (31) | (1) | (1) | (6) | (6) | (38) | (38) | |||||||||||||
Recognition of the fair value of share-based compensation | 92 | 92 | |||||||||||||||||||
Other share-based compensation activity (in shares) | 5,923 | ||||||||||||||||||||
Other share-based compensation activity | (19) | $ 0 | (10) | (9) | |||||||||||||||||
TCJA, Reclassification from accumulated OCI to retained earnings | 0 | (93) | 93 | ||||||||||||||||||
Other (in shares) | 161 | (315) | |||||||||||||||||||
Other | (4) | 4 | $ (8) | ||||||||||||||||||
Ending balance at Dec. 31, 2017 | 10,814 | $ 1,071 | $ 11 | 9,707 | $ (35) | (528) | 588 | $ 1,071 | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Shares, Outstanding | 1,075,295 | 3,268 | |||||||||||||||||||
Conversion of Stock, Shares Converted | 30,330 | ||||||||||||||||||||
Conversion of Stock, Amount Converted | 0 | 363 | $ (363) | ||||||||||||||||||
Net income | 1,393 | 1,393 | |||||||||||||||||||
Other comprehensive income (loss) | (80) | (80) | |||||||||||||||||||
Repurchase of common stock (in shares) | (61,644) | ||||||||||||||||||||
Repurchase of common stock | (939) | $ 0 | (939) | ||||||||||||||||||
Issuance of preferred stock | 495 | 495 | |||||||||||||||||||
Cash dividends declared: | |||||||||||||||||||||
Dividends, Common Stock, Cash | (541) | (541) | |||||||||||||||||||
Dividends, Preferred Stock, Cash | $ (24) | $ (24) | $ (3) | $ (3) | $ (6) | $ (6) | $ (37) | $ (37) | |||||||||||||
Recognition of the fair value of share-based compensation | 78 | 78 | |||||||||||||||||||
Other share-based compensation activity (in shares) | 6,603 | ||||||||||||||||||||
Other share-based compensation activity | (41) | $ 0 | (31) | (10) | |||||||||||||||||
Other (in shares) | 0 | (549) | |||||||||||||||||||
Other | (7) | $ 0 | 3 | $ (10) | 0 | ||||||||||||||||
Ending balance at Dec. 31, 2018 | 11,102 | $ 1,203 | $ 11 | $ 9,181 | $ (45) | $ (609) | $ 1,361 | ||||||||||||||
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 | ||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Shares, Outstanding | 1,050,584 | 3,817 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash dividends declared: | |||
Common stock, cash dividend per share (in USD per share) | $ 0.5 | $ 0.35 | $ 0.29 |
Series A Preferred Stock | |||
Cash dividends declared: | |||
Preferred stock dividend per share (in usd per share) | 0 | 85 | 85 |
Series B Preferred Stock | |||
Cash dividends declared: | |||
Preferred stock dividend per share (in usd per share) | 49.11 | 39.11 | 34.03 |
Series C Preferred Stock | |||
Cash dividends declared: | |||
Preferred stock dividend per share (in usd per share) | 58.76 | 58.76 | 26.28 |
Series D Preferred Stock | |||
Cash dividends declared: | |||
Preferred stock dividend per share (in usd per share) | 62.50 | $ 62.50 | $ 51.04 |
Series E Preferred Stock [Member] | |||
Cash dividends declared: | |||
Preferred stock dividend per share (in usd per share) | $ 4,892.5 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||
Net income | $ 1,393 | $ 1,186 | $ 712 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Provision for credit losses | 235 | 201 | 191 |
Depreciation and amortization | 493 | 413 | 380 |
Share-based compensation expense | 78 | 92 | 66 |
Deferred income tax expense | 63 | 168 | 165 |
Net (losses) gains on sales of securities | (21) | 0 | 2 |
Impairment losses recognized in earnings on available-for-sale securities | 0 | 4 | 2 |
Net change in: | |||
Trading account securities | (11) | 47 | (96) |
Loans held for sale | (301) | 12 | (123) |
Other assets | (235) | (420) | (96) |
Other liabilities | 22 | 233 | 4 |
Other, net | (32) | 18 | 12 |
Net cash provided by (used in) operating activities | 1,726 | 1,954 | 1,215 |
Investing activities | |||
Change in interest bearing deposits in banks | 90 | 39 | 26 |
Cash paid for acquisition of a business, net of cash received | (15) | 0 | (133) |
Proceeds from: | |||
Maturities and calls of available-for-sale securities | 2,109 | 1,994 | 2,346 |
Maturities and calls of held-to-maturity securities | 743 | 1,054 | 1,212 |
Sales of available-for-sale securities | 1,419 | 2,490 | 6,154 |
Maturities, calls, and sales of other securities | 42 | (48) | (233) |
Purchases of available-for-sale securities | (2,485) | (5,429) | (10,905) |
Purchases of held-to-maturity securities | (338) | (1,356) | 0 |
Purchases of other securities | (7) | 11 | 17 |
Net proceeds from sales of portfolio loans | 697 | 603 | 2,981 |
Net loan and lease activity, excluding sales and purchases | (5,333) | (3,680) | (3,951) |
Purchases of premises and equipment | (110) | (194) | (120) |
Purchases of loans and leases | (542) | (405) | (411) |
Net cash paid for branch divestiture | 0 | 0 | 480 |
Other, net | 67 | 55 | 52 |
Net cash provided by (used in) investing activities | (3,663) | (4,866) | (3,445) |
Financing activities | |||
Increase (decrease) in deposits | 7,733 | 1,433 | (292) |
Increase (decrease) in short-term borrowings | (3,025) | 1,371 | 1,900 |
Net proceeds from issuance of long-term debt | 2,229 | 1,891 | 2,128 |
Maturity/redemption of long-term debt | (2,798) | (948) | (1,275) |
Dividends paid on preferred stock | (70) | (76) | (54) |
Dividends paid on common stock | (514) | (349) | (245) |
Repurchases of common stock | (939) | (260) | 0 |
Net proceeds from issuance of preferred stock | 495 | 0 | 585 |
Payments related to tax-withholding for share based compensation awards | (27) | (26) | 0 |
Other, net | 5 | 11 | 21 |
Net cash provided by (used for) financing activities | 3,089 | 3,047 | 2,768 |
Increase (decrease) in cash and cash equivalents | 1,152 | 135 | 538 |
Cash and cash equivalents at beginning of period | 1,520 | 1,385 | 847 |
Cash and cash equivalents at end of period | 2,672 | 1,520 | 1,385 |
Supplemental disclosures: | |||
Interest paid | 742 | 409 | 241 |
Income taxes (refunded) paid | (52) | 84 | 5 |
Non-cash activities: | |||
Common stock issued to acquire FirstMerit | 0 | 0 | 2,767 |
Preferred stock issued to acquire FirstMerit | 0 | 0 | 104 |
Loans transferred to held-for-sale from portfolio | 818 | 660 | 3,437 |
Loans transferred to portfolio from held-for-sale | 51 | 12 | 482 |
Transfer of loans to OREO | 20 | 29 | 79 |
Transfer of securities from held-to-maturity to available-for-sale | 2,707 | 993 | 2,870 |
Transfer of securities from available-for-sale to held-to-maturity | $ 2,833 | $ 0 | $ 0 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
SIGNIFICANT ACCOUNTING POLICIES | SIGNIFICANT ACCOUNTING POLICIES Nature of Operations — Huntington Bancshares Incorporated (Huntington or the Company) is a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), Huntington is engaged in providing full-service commercial, small business, consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services. Huntington’s banking offices are located in Ohio, Illinois, Michigan, Pennsylvania, Indiana, West Virginia, Wisconsin and Kentucky. Select financial services and other activities are also conducted in various other states. International banking services are available through the headquarters office in Columbus, Ohio. Basis of Presentation — The Consolidated Financial Statements include the accounts of Huntington and its majority-owned subsidiaries and are presented in accordance with GAAP. All intercompany transactions and balances have been eliminated in consolidation. Entities in which Huntington holds a controlling financial interest are consolidated. For a voting interest entity, a controlling financial interest is generally where Huntington holds, directly or indirectly, more than 50 percent of the outstanding voting shares. For a variable interest entity (VIE), a controlling financial interest is where Huntington has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE. These losses or benefits, which could potentially be significant to the VIE, are consolidated. For consolidated entities where Huntington holds less than a 100% interest, Huntington recognizes non-controlling interest (included in shareholders’ equity) for the equity held by minority shareholders and non-controlling profit or loss (included in noninterest expense) for the portion of the entity’s earnings attributable to minority interests. Investments in companies that are not consolidated are accounted for using the equity method when Huntington has the ability to exert significant influence. Investments in nonmarketable equity securities for which Huntington does not have the ability to exert significant influence are generally accounted for using the cost method adjusted for change in observable prices. Investments in private investment partnerships that are accounted for under the equity method or the cost method are included in other assets and Huntington’s earnings in equity investments are included in other noninterest income. Investments accounted for under the cost and equity methods are periodically evaluated for impairment. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that significantly affect amounts reported in the Consolidated Financial Statements. Huntington utilizes processes that involve the use of significant estimates and the judgments of management in determining the amount of its allowance for credit losses, income taxes, as well as fair value measurements of investment securities, derivative instruments, goodwill, other intangible assets, pension assets and liabilities, short-term borrowings, mortgage servicing rights, and loans held for sale. As with any estimate, actual results could differ from those estimates. For statements of cash flows purposes, cash and cash equivalents are defined as the sum of cash and due from banks and interest-bearing deposits at Federal Reserve Bank. Certain prior period amounts have been reclassified to conform to the current year’s presentation. Resale and Repurchase Agreements — Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at the amounts at which the securities were acquired or sold plus accrued interest. The fair value of collateral either received from or provided to a third-party is monitored and additional collateral is obtained or requested to be returned to Huntington in accordance with the agreement. Securities — Securities purchased with the intention of recognizing short-term profits or which are actively bought and sold are classified as trading account securities and reported at fair value. The unrealized gains or losses on trading account securities are recorded in other noninterest income, except for gains and losses on trading account securities used to economically hedge the fair value of MSRs, which are included in mortgage banking income. Debt securities purchased in which Huntington has the positive intent and ability to hold to their maturity are classified as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost. All other debt and equity securities are classified as available-for-sale or other securities. Unrealized gains or losses on available-for-sale are reported as a separate component of accumulated OCI in the Consolidated Statements of Changes in Shareholders’ Equity. Credit-related declines in the value of debt securities that are considered OTTI are recorded in noninterest income. Huntington evaluates its investment securities portfolio on a quarterly basis for indicators of OTTI. Huntington assesses whether OTTI has occurred when the fair value of a debt security is less than the amortized cost basis at the balance sheet date. Management reviews the amount of unrealized loss, the length of time the security has been in an unrealized loss position, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of both interest and principal payments to identify securities which could potentially be impaired. For those debt securities that Huntington intends to sell or is more likely than not required to sell, before the recovery of their amortized cost bases, the difference between fair value and amortized cost is considered to be OTTI and is recognized in noninterest income. For those debt securities that Huntington does not intend to sell or is not more likely than not required to sell, prior to expected recovery of amortized cost bases, the credit portion of the OTTI is recognized in noninterest income while the noncredit portion is recognized in OCI. In determining the credit portion, Huntington uses a discounted cash flow analysis, which includes evaluating the timing and amount of the expected cash flows. Non-credit-related OTTI results from other factors, including increased liquidity spreads and higher interest rates. Presentation of OTTI is made in the Consolidated Statements of Income on a gross basis with a reduction for the amount of OTTI recognized in OCI. Securities transactions are recognized on the trade date (the date the order to buy or sell is executed). The carrying value plus any related accumulated OCI balance of sold securities is used to compute realized gains and losses. Interest on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity, are included in interest income. Non-marketable equity securities include stock held for membership and regulatory purposes, such as FHLB stock and FRB stock. These securities are accounted for at cost, evaluated for impairment, and are included in other securities. Other securities also include mutual funds and other marketable equity securities. These securities are carried at fair value, with changes in fair value recognized in other noninterest income. Loans and Leases — Loans and direct financing leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Consolidated Balance Sheets as loans and leases. Except for purchase credit impaired loans and loans for which the fair value option has been elected, loans and leases are carried at the principal amount outstanding, net of charge-offs, unamortized deferred loan origination fees and costs, premiums and discounts, and unearned income. Direct financing leases are reported at the aggregate of lease payments receivable and estimated residual values, net of unearned and deferred income, and any initial direct costs incurred to originate these leases. Interest income is accrued as earned using the interest method. Huntington defers the fees it receives from the origination of loans and leases, as well as the direct costs of those activities. Huntington also acquires loans at a premium and at a discount to their contractual values. Huntington amortizes loan discounts, premiums, and net loan origination fees and costs over the contractual lives of the related loans using the effective interest method. Troubled debt restructurings are loans for which the original contractual terms have been modified to provide a concession to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. Modifications resulting in troubled debt restructurings may include changes to one or more terms of the loan, including but not limited to, a change in interest rate, an extension of the repayment period, a reduction in payment amount, and partial forgiveness or deferment of principal or accrued interest. Impairment of the residual values of direct financing leases is evaluated quarterly, with those determined to be other than temporary recognized by writing the leases down to fair value with a charge to other noninterest expense. Residual value impairment arises when the expected fair value is less than the carrying amount, net of estimated amounts reimbursable by the lessee. Beginning January 1, 2019, as a result of the implementation of ASC 842, lessors will assess net investments in leases (including residual values) for impairment, and recognize any impairment losses in accordance with the impairment guidance for financial instruments. As such, net investments in leases may be reduced by a recognized allowance for credit losses, with changes recognized as provision expense. 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. Loans Held for Sale — Loans in which Huntington does not have the intent and ability to hold for the foreseeable future are classified as loans held for sale. Loans held for sale are carried at (a) the lower of cost or fair value less cost to sell, or (b) fair value where the fair value option is elected. The fair value option is generally elected for mortgage loans held for sale to facilitate hedging of the loans. The fair value of such loans is estimated based on the inputs that include prices of mortgage backed securities adjusted for other variables such as, interest rates, expected credit defaults and market discount rates. The adjusted value reflects the price we expect to receive from the sale of such loans. 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. Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status, unless there is a co-borrower or the repayment is likely to occur based on objective evidence. All classes within the C&I and CRE portfolios are placed on nonaccrual status at 90 -days past due. First-lien home equity loans are placed on nonaccrual status at 150 -days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120 -days past due or when the related first-lien loan has been identified as nonaccrual. Automobile, RV and marine finance and other consumer loans are placed on non-accrual, if not charged off, when the loan is 120 -days past due. Residential mortgage loans are placed on nonaccrual status at 150 -days past due, with the exception of residential mortgages guaranteed by government agencies which continue to accrue interest at the rate guaranteed by the government agency. For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income, to the extent it is recognized in the current year, is reversed and charged to interest income, and prior year amounts in interest accrued are charged-off as a credit loss. For all classes within all loan portfolios, cash receipts on NALs are applied against principal until the loan or lease has been collected in full, including the charged-off portion, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. Within the C&I and CRE portfolios, the determination of a borrower’s ability to make the required principal and interest payments is based on an examination of the borrower’s current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower’s ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower’s financial condition. When, in management’s judgment, the borrower’s ability to make required principal and interest payments resumes and collectability is no longer in doubt, supported by sustained repayment history, the loan is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. Allowance for Credit Losses — Huntington maintains two reserves, both of which reflect management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: 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. The appropriateness of the ACL is based on management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. The ALLL consists of two components: (1) the transaction reserve and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan where obligor balance is greater than $1 million . For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying PD and LGD factors to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD and LGD factors are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data. In the case of more homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used driven by the associated delinquency status. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. The general reserve consists of various risk-profile reserve components. The risk-profile components consider items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, concentrations, portfolio composition, industry comparisons, and internal review functions. The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering historical utilization of unused commitments. The AULC is recorded in other liabilities in the Consolidated Balance Sheets. Charge-off of Uncollectible Loans — Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs, unless the repayment is likely to occur based on objective evidence. C&I and CRE loans are generally either charged-off or written down to net realizable value at 90 -days past due. Automobile, RV and marine finance and other consumer loans are generally charged-off at 120 -days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150 -days past due and 120 -days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral at 150 -days past due. Impaired Loans — For all classes within the C&I and CRE portfolios, loans with an obligor balance of $1 million or greater are evaluated on a quarterly basis for impairment. Except for TDRs, consumer loans within any class are generally not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration in credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. A specific reserve is established as a component of the ALLL when a loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan’s expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve as appropriate. When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full (including any portion charged-off) or the loan is deemed current, after which time any additional cash receipts are recognized as interest income. Cash receipts on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. Collateral — We pledge assets as collateral as required for various transactions including security repurchase agreements, public deposits, loan notes, derivative financial instruments, short-term borrowings and long-term borrowings. Assets that have been pledged as collateral, including those that can be sold or repledged by the secured party, continue to be reported on our Consolidated Balance Sheets. We also accept collateral, primarily as part of various transactions including derivative instruments and security resale agreements. Collateral accepted by us, including collateral that we can sell or repledge, is excluded from our Consolidated Balance Sheets. The market value of collateral we have accepted or pledged is regularly monitored and additional collateral is obtained or provided as necessary to ensure appropriate collateral coverage in these transactions. Premises and Equipment — Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the related assets. Buildings and building improvements are depreciated over an average of 30 to 40 years and 10 to 30 years, respectively. Land improvements and furniture and fixtures are depreciated over an average of 5 to 20 years, while equipment is depreciated over a range of 3 to 10 years. Leasehold improvements are amortized over the lesser of the asset’s useful life or the lease term, including any renewal periods for which renewal is reasonably assured. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of an asset are capitalized and depreciated over the remaining useful life. Amounts in premises and equipment may include items classified as held-for-sale, which are carried at lower of cost or fair value, less costs to sell. Premises and equipment is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Mortgage Servicing Rights — Huntington recognizes the rights to service mortgage loans as an asset when servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained or when purchased. MSRs are included in servicing rights and other intangible assets in the Consolidated Balance Sheets. For loan sales with servicing retained, a servicing asset is recorded on the day of the sale at fair value for the right to service the loans sold. To determine the fair value of a MSR, Huntington uses an option adjusted spread cash flow analysis incorporating market implied forward interest rates to estimate the future direction of mortgage and market interest rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. The current and projected mortgage interest rate influences the prepayment rate and, therefore, the timing and magnitude of the cash flows associated with the MSR. Servicing revenues on mortgage loans are included in mortgage banking income. At the time of initial capitalization, MSRs may be grouped into servicing classes based on the availability of market inputs used in determining fair value and the method used for managing the risks of the servicing assets. MSR assets are recorded using the fair value method or the amortization method. The election of the fair value or amortization method is made at the time each servicing class is established. All newly created MSRs since 2009 were recorded using the amortization method. Any change in the fair value of MSRs carried under the fair value method, as well as amortization and impairment of MSRs under the amortization method, during the period is recorded in mortgage banking income. Huntington economically hedges the value of certain MSRs using derivative instruments and trading securities. Changes in fair value of these derivatives and trading securities are reported as a component of mortgage banking income. Goodwill and Other Intangible Assets — Under the acquisition method of accounting, the net assets of entities acquired by Huntington are recorded at their estimated fair value at the date of acquisition. The excess cost of consideration paid over the fair value of net assets acquired is recorded as goodwill. Other intangible assets with finite useful lives are amortized either on an accelerated or straight-line basis over their estimated useful lives. Goodwill is evaluated for impairment on an annual basis at October 1 st of each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Other intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. Derivative Financial Instruments — A variety of derivative financial instruments, principally interest rate swaps, caps, floors, and collars, are used in asset and liability management activities to protect against the risk of adverse price or interest rate movements. These instruments provide flexibility in adjusting Huntington’s sensitivity to changes in interest rates without exposure to loss of principal and higher funding requirements. Huntington also uses derivatives, principally loan sale commitments, in hedging its mortgage loan interest rate lock commitments and its mortgage loans held for sale. Mortgage loan sale commitments and the related interest rate lock commitments are carried at fair value on the Consolidated Balance Sheets with changes in fair value reflected in mortgage banking income. Huntington also uses certain derivative financial instruments to offset changes in value of its MSRs. These derivatives consist primarily of forward interest rate agreements and forward mortgage contracts. The derivative instruments used are not designated as qualifying hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income. Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in other assets or other liabilities, respectively) and measured at fair value. On the date a derivative contract is entered into, we designate it as either: • a qualifying hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge); • a qualifying hedge of the variability of cash flows to be received or paid related to a recognized asset liability or forecasted transaction (cash flow hedge); or • a trading instrument or a non-qualifying (economic) hedge. Changes in the fair value of a derivative that has been designated and qualifies as a fair value hedge, along with the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of a derivative that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income, net of income taxes, and reclassified into earnings in the period during which the hedged item affects earnings. Changes in the fair value of derivatives held for trading purposes or which do not qualify for hedge accounting are reported in current period earnings. For those derivatives to which hedge accounting is applied, Huntington formally documents the hedging relationship and the risk management objective and strategy for undertaking the hedge. This documentation identifies the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and, unless the hedge meets all of the criteria to assume there is no ineffectiveness, the method that will be used to assess the effectiveness of the hedging instrument and how ineffectiveness will be measured. The methods utilized to assess retrospective hedge effectiveness, as well as the frequency of testing, vary based on the type of item being hedged and the designated hedge period. For specifically designated fair value hedges of certain fixed-rate debt, Huntington utilizes the short-cut method when certain criteria are met. For other fair value hedges of fixed-rate debt, Huntington utilizes the regression method to evaluate hedge effectiveness on a quarterly basis. Hedge accounting is discontinued prospectively when: • the derivative is no longer effective or expected to be effective in offsetting changes in the fair value or cash flows of a hedged item (including firm commitments or forecasted transactions); • the derivative expires or is sold, terminated, or exercised; • the forecasted transaction is no longer probable of occurring; • the hedged firm commitment no longer meets the definition of a firm commitment; or • the designation of the derivative as a hedging instrument is removed. When hedge accounting |
ACCOUNTING STANDARDS UPDATE
ACCOUNTING STANDARDS UPDATE | 12 Months Ended |
Dec. 31, 2018 | |
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 2014-09 - Revenue from Contracts with Customers (Topic 606). Issued May 2014 - Topic 606 supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. - Requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. - Also requires additional qualitative and quantitative disclosures relating to the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. - Guidance sets forth a five step approach for revenue recognition. - Huntington adopted the new guidance on January 1, 2018 using the modified retrospective approach. - The update did not have a material impact on Huntington’s Consolidated Financial Statements. - See Note 13 for further detail impact on adoption. ASU 2016-01 - Recognition and Measurement of Financial Assets and Financial Liabilities. Issued January 2016 - Makes targeted improvements related to certain aspects of recognition, measurement, presentation and disclosures for financial instruments including requiring an entity to: (a) Measure its equity investments with changes in the fair value recognized in the income statement. (b) Present separately in OCI the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments (i.e., FVO liability). (c) Use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. (d) Assess deferred tax assets related to a net unrealized loss on AFS securities in combination with the entity’s other deferred tax assets. - Huntington adopted the new guidance on January 1, 2018 using the modified retrospective approach. - Amendments were applied as a cumulative-effect adjustment to the balance sheet as of January 1, 2018. - Huntington reclassified $19 million of equity securities from AFS Securities to Other Securities on the Consolidated Balance Sheets and reclassified unrealized gains of $1 million from AOCI to Retained Earnings. Prior periods have been adjusted to present these securities as Other Securities to facilitate comparison. ASU 2016-15 - Classification of Certain Cash Receipts and Cash Payments. Issued August 2016 - Clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. - Provides consistent principles for evaluating the classification of cash payments and receipts in the statement of cash flows to reduce diversity in practice with respect to several types of cash flows. - Huntington adopted the new guidance on January 1, 2018. - The update did not have a material impact on Huntington’s Consolidated Financial Statements. ASU 2017-07 - Improving the Presentation of Net Periodic Pension Cost and Periodic Postretirement Benefit Cost. Issued March 2017 - Requires that an employer report the service cost component of the pension cost and postretirement benefit cost in the same line items as other compensation costs arising from services rendered by the pertinent employees during the period. - Other components of the net benefit cost should be presented or disclosed separately from the service cost component in the income statement. - Huntington adopted the new guidance on January 1, 2018. - The update did not have a material impact on Huntington’s Consolidated Financial Statements. Standard Summary of guidance Effects on financial statements ASU 2017-09 - Stock Compensation Modification Accounting. Issued May 2017 - Reduces the current diversity in practice and provides explicit guidance pertaining to the provisions of modification accounting. - Clarifies that an entity should account for effects of modification unless the fair value, vesting conditions and the classification of the modified award are the same as the original awards immediately before the original award is modified. - Huntington adopted the new guidance on January 1, 2018. - The update did not have a material impact on Huntington’s Consolidated Financial Statements. ASU 2017-12 - Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities. Issued August 2017 - Aligns the entity’s risk management activities and financial reporting for hedging relationships. - Requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. - Refines measurement techniques for hedges of benchmark interest rate risk. - Eliminates the separate measurement and reporting of hedge ineffectiveness. - Allows stated amount of assets in a closed portfolio to be fair value hedged by excluding proportion of hedged item related to prepayments, defaults and other events. - Eases hedge effectiveness testing including an option to perform qualitative testing. - For cash flow and net investment hedges, the cumulative-effect adjustment related to eliminating the separate measurement of ineffectiveness should be recognized in AOCI with a corresponding adjustment to retained earnings. - Huntington adopted the new guidance on January 1, 2018. Except as mentioned in the paragraph below, the update did not have a material impact on Huntington’s Consolidated Financial Statements. - Huntington reclassified $2.8 billion securities eligible to be hedged under the last-of-layer method from held-to-maturity to available-for-sale and recognized $26 million of fair value loss (net of tax) within OCI. ASU 2018-13 - Fair Value Measurement (Topic 820). Issued August 2018 - Modifies the disclosure requirements on fair value measurements. - Removes disclosures for transfers between Level 1 and Level 2, the policy for timing of transfers between levels, and the valuation processes for Level 3 fair value measurements. - Clarifies that the information about uncertainty in measurement in uncertainty disclosure should be as of the reporting date. - Adds disclosures related to (a) changes in unrealized gains/losses in OCI for Level 3 fair value measurements for assets held at the end of the reporting period, and (b) the process of calculating weighted average for significant unobservable inputs used to develop Level 3 fair value measurements. - Effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years with early adoption permitted. - Huntington early adopted the guidance effective 4Q 2018. The amendment did not have a material impact on Huntington’s Consolidated Financial Statements. ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans. Issued August 2018 - Modifies the disclosure requirements for defined benefit pension plans. - Removes disclosures pertaining to (a) the amounts of AOCI expected to be recognized as pension costs over the next fiscal year, (b) the amount and timing of plan assets expected to be returned to the employer, and (c) the effect of one-percentage-point change in the assumed health care trends on (i) service and interest cost and (ii) postretirement health care benefit obligation. - Adds a new disclosure requiring an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. - Effective retrospectively for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years with early adoption permitted. - Huntington early adopted the guidance effective 4Q 2018. The amendment did not have a material impact on the Huntington’s Consolidated Financial Statements. Standard Summary of guidance Effects on financial statements ASU 2018-15 - Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Issued August 2018 - Aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software as well as with hosting arrangements that include an internal-use software license. - Requires the entity to expense the capitalized implementation costs of a hosting arrangement over the term of the hosting arrangement. - Requires the entity to present the expense related to implementation costs in the same statement of income line and statement of cash flows line where the fees for the service contract is recognized for respective statements. - Effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years with early adoption permitted. - Huntington early adopted the guidance effective 3Q 2018. The update did not have a material impact on Huntington’s Consolidated Financial Statements as the guidance was consistent with Huntington’s existing accounting treatment for such arrangements. Accounting standards yet to be adopted 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. Impact to the income statement is not expected to be material. - Accounting applied by a lessor is largely unchanged from that applied under the existing guidance. - Requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. - Effective for the fiscal period beginning after December 15, 2018, with early application permitted. - 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 the 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 expects to recognize right-of-use assets and lease liabilities of approximately $225 million, representing substantially all of its operating lease commitments. This estimate is based, primarily, on the present value of unpaid future minimum lease payments. Additionally, that amount is impacted by assumptions around renewals and/or extensions, and the interest rate used to discount those future lease obligations. - 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 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 842 changed the accounting for such costs, with entities evaluating the impairment of right-of-use assets using the guidance in ASC 360. Such an impairment analysis would occur once the entity commits to a plan to abandon the space, and thus 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. 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. - Requires those financial assets 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. - Effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018. - 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 intends to adopt the guidance on January 1, 2020 and has a working group comprised of teams from different disciplines including credit, finance, and risk management to evaluate the requirements of the new standard and the impact it will have on our processes. - Huntington is currently in the process of developing credit models as well as accounting, reporting, and governance processes to comply with the new credit reserve requirements. 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 Consolidated Financial Statements. ASU 2018-16 - Derivatives and Hedging - Inclusion of SOFR as Benchmark Interest Rate for Hedge Accounting Purposes. Issued October 2018 - Permits use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the U.S. Treasury, the LIBOR swap rate, the OIS rate based on the Fed Funds Effective Rate, and the SIFMA Municipal Swap Rate. - For public business entities that already have adopted the amendments in ASU 2017-12, the amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. - The amendments should be adopted on a prospective basis for qualifying new or redesignated hedging relationships entered into on or after the date of adoption. - Huntington will evaluate its risk management and may determine to hedge risk associated with OIS based on SOFR on case-to-case basis. ASU 2018-20 - Narrow-Scope Improvements for Lessors Issued December 2018 - The amendments create a lessor practical expedient applicable to sales and other similar taxes incurred in connection with a lease, and simplify lessor accounting for lessor costs paid by the lessee. - Permits lessors, as an entity-wide accounting policy election, to present sales and other similar taxes that arise from a specific leasing transaction on a net basis. - Requires lessors to present lessor costs paid by the lessee directly to a third party on a net basis – regardless of whether the lessor knows, can determine or can reliably estimate those costs. - Requires lessors to present lessor costs paid by the lessee to the lessor (e.g. through direct reimbursement or as part of the fixed lease payments) on a gross basis - Effective date coincides with the effective date of ASU 2016-02 for Huntington (fiscal period beginning after December 15, 2018). - Huntington elected to present sales and other similar taxes that arise from specific leasing transactions on a net basis. - Management will present property taxes on a gross basis where such taxes are paid by Huntington and reimbursed by the lessee, and has assessed the impact of that change to Huntington’s consolidated financial statements. - The amendment does not have a material impact on Huntington’s Consolidated Financial Statements. |
LOANS AND LEASES AND ALLOWANCE
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
LOANS AND 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 Consolidated Balance Sheets as loans and leases. The total balance that is recognized against loans and leases pertaining to unamortized premiums, discounts, fees, and costs, was a net premium of $428 million and $334 million at December 31, 2018 and 2017 , respectively. Loan and Lease Portfolio Composition The following table provides a detailed listing of Huntington’s loan and lease portfolio at December 31, 2018 and December 31, 2017 . At December 31, (dollar amounts in millions) 2018 2017 Loans and leases: Commercial and industrial $ 30,605 $ 28,107 Commercial real estate 6,842 7,225 Automobile 12,429 12,100 Home equity 9,722 10,099 Residential mortgage 10,728 9,026 RV and marine finance 3,254 2,438 Other consumer 1,320 1,122 Loans and leases 74,900 70,117 Allowance for loan and lease losses (772 ) (691 ) Net loans and leases $ 74,128 $ 69,426 During the fourth quarter of 2018 , Huntington announced the sale of its Wisconsin branch banking operations. As a result, $121 million of loans were transferred to loans held-for-sale on the Consolidated Balance Sheet. The sale is expected to close in the first half of 2019 . Direct Financing Leases Huntington’s loan and lease portfolio includes lease financing receivables consisting of direct financing leases on equipment, which are included in C&I loans. Net investments in lease financing receivables by category at December 31, 2018 and 2017 were as follows: At December 31, (dollar amounts in millions) 2018 2017 Commercial and industrial: Lease payments receivable $ 1,747 $ 1,645 Estimated residual value of leased assets 726 755 Gross investment in commercial lease financing receivables 2,473 2,400 Deferred origination costs 20 18 Deferred fees (250 ) (225 ) Total net investment in commercial lease financing receivables $ 2,243 $ 2,193 The future lease rental payments due from customers on direct financing leases at December 31, 2018 , totaled $1.7 billion and were due as follows: $0.6 billion in 2019 , $0.4 billion in 2020 , $0.3 billion in 2021 , $0.2 billion in 2022 , $0.1 billion in 2023 , and $0.1 billion thereafter. Nonaccrual and Past Due Loans The following table presents NALs by loan class at December 31, 2018 and 2017 : December 31, (dollar amounts in millions) 2018 2017 Commercial and industrial $ 188 $ 161 Commercial real estate 15 29 Automobile 5 6 Home equity 62 68 Residential mortgage 69 84 RV and marine finance 1 1 Other consumer — — Total nonaccrual loans $ 340 $ 349 The amount of interest that would have been recorded under the original terms for total NAL loans was $22 million , $21 million , and $24 million for 2018 , 2017 , and 2016 , respectively. The total amount of interest recorded to interest income for these loans was $12 million , $18 million , and $17 million in 2018 , 2017 , and 2016 , respectively. The following table presents an aging analysis of loans and leases, including past due loans and leases, by loan class at December 31, 2018 and 2017 (1): 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 finance 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 December 31, 2017 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Purchased Commercial and industrial $ 35 $ 14 $ 65 $ 114 $ 27,954 39 — $ 28,107 $ 9 (2) Commercial real estate 10 1 11 22 7,201 2 — 7,225 3 Automobile 89 18 10 117 11,982 — 1 12,100 7 Home equity 49 19 60 128 9,969 — 2 10,099 18 Residential mortgage 129 48 118 295 8,642 — 89 9,026 72 (3) RV and marine finance 11 3 2 16 2,421 — 1 2,438 1 Other consumer 12 5 5 22 1,100 — — 1,122 5 Total loans and leases $ 335 $ 108 $ 271 $ 714 $ 69,269 $ 41 $ 93 $ 70,117 $ 115 (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 The following table presents ALLL and AULC activity by portfolio segment for the years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) Commercial Consumer Total Year ended December 31, 2018: ALLL balance, beginning of period $ 482 $ 209 $ 691 Loan charge-offs (79 ) (189 ) (268 ) Recoveries of loans previously charged-off 65 58 123 Provision for loan and lease losses 74 152 226 ALLL balance, end of period $ 542 $ 230 $ 772 AULC balance, beginning of period $ 84 $ 3 $ 87 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 10 (1 ) 9 AULC balance, end of period $ 94 $ 2 $ 96 ACL balance, end of period $ 636 $ 232 $ 868 Year ended December 31, 2017: ALLL balance, beginning of period $ 451 $ 187 $ 638 Loan charge-offs (72 ) (180 ) (252 ) Recoveries of loans previously charged-off 41 52 93 Provision for loan and lease losses 62 150 212 ALLL balance, end of period $ 482 $ 209 $ 691 AULC balance, beginning of period $ 87 $ 11 $ 98 Provision (reduction in allowance) for unfunded loan commitments and letters of credit (3 ) (8 ) (11 ) AULC balance, end of period $ 84 $ 3 $ 87 ACL balance, end of period $ 566 $ 212 $ 778 Year ended December 31, 2016: ALLL balance, beginning of period $ 399 $ 199 $ 598 Loan charge-offs (92 ) (135 ) (227 ) Recoveries of loans previously charged-off 73 45 118 Provision for loan and lease losses 85 84 169 Allowance for loans sold or transferred to loans held for sale (14 ) (6 ) (20 ) ALLL balance, end of period $ 451 $ 187 $ 638 AULC balance, beginning of period $ 64 $ 8 $ 72 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 19 3 22 AULC recorded at acquisition 4 — 4 AULC balance, end of period $ 87 $ 11 $ 98 ACL balance, end of period $ 538 $ 198 $ 736 Credit Quality Indicators 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. For all classes within consumer loan portfolios, loans are assigned pool level PD factors based on the FICO range within which the borrower’s most recent credit bureau score falls. A credit bureau score is a credit score developed by FICO based on data provided by the credit bureaus. The credit bureau score is widely accepted as the standard measure of consumer credit risk used by lenders, regulators, rating agencies, and consumers. The higher the credit bureau score, the higher likelihood of repayment and therefore, an indicator of higher credit quality. Huntington assesses the risk in the loan portfolio by utilizing numerous risk characteristics. The classifications described above, and also presented in the table below, represent one of those characteristics that are closely monitored in the overall credit risk management processes. The following table presents each loan and lease class by credit quality indicator at December 31, 2018 and 2017 : December 31, 2018 Credit Risk Profile by UCS Classification (dollar amounts in millions) 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) 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 finance 2,074 990 105 85 3,254 Other consumer 501 633 129 57 1,320 December 31, 2017 Credit Risk Profile by UCS Classification (dollar amounts in millions) Pass OLEM Substandard Doubtful Total Commercial and industrial $ 26,268 $ 694 $ 1,116 $ 29 $ 28,107 Commercial real estate 6,909 200 115 1 7,225 Credit Risk Profile by FICO Score (1), (2) 750+ 650-749 <650 Other (3) Total Automobile 6,102 4,312 1,390 295 $ 12,099 Home equity 6,352 3,024 617 104 10,097 Residential mortgage 5,697 2,581 605 54 8,937 RV and marine finance 1,433 863 96 45 2,437 Other consumer 428 540 143 11 1,122 (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 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 for the years ended December 31, 2018 and 2017 : (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 balance: 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. (dollar amounts in millions) Commercial Consumer Total ALLL at December 31, 2017 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 32 $ 9 $ 41 Attributable to loans collectively evaluated for impairment 450 200 650 Total ALLL balance: $ 482 $ 209 $ 691 Loan and Lease Ending Balances at December 31, 2017 (1) Portion of loan and lease ending balances: Attributable to purchased credit-impaired loans $ 41 $ — $ 41 Individually evaluated for impairment 607 616 1,223 Collectively evaluated for impairment 34,684 34,076 68,760 Total loans and leases evaluated for impairment $ 35,332 $ 34,692 $ 70,024 (1) Excludes loans accounted for under the fair value option. The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for impaired loans and leases for the years ended December 31, 2018 and 2017 (1): Year Ended December 31, 2018 December 31, 2018 (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 224 $ 261 $ — $ 256 $ 22 Commercial real estate 36 45 — 47 8 With an allowance recorded: Commercial and industrial 221 240 31 272 11 Commercial real estate 35 39 2 45 2 Automobile 38 42 2 37 2 Home equity 314 356 10 326 14 Residential mortgage 287 323 4 297 11 RV and marine finance 2 3 — 2 — Other consumer 9 9 3 8 — Total Commercial and industrial (3) 445 501 31 528 33 Commercial real estate (4) 71 84 2 92 10 Automobile (2) 38 42 2 37 2 Home equity (5) 314 356 10 326 14 Residential mortgage (5) 287 323 4 297 11 RV and marine finance (2) 2 3 — 2 — Other consumer (2) 9 9 3 8 — Year Ended December 31, 2017 December 31, 2017 (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 284 $ 311 $ — $ 206 $ 12 Commercial real estate 56 81 — 64 8 With an allowance recorded: Commercial and industrial 257 280 29 292 16 Commercial real estate 51 51 3 52 2 Automobile 36 40 2 33 2 Home equity 334 385 14 329 15 Residential mortgage 308 338 4 325 12 RV and marine finance 2 3 — 1 — Other consumer 8 8 2 5 — Total Commercial and industrial (3) 541 591 29 498 28 Commercial real estate (4) 107 132 3 116 10 Automobile (2) 36 40 2 33 2 Home equity (5) 334 385 14 329 15 Residential mortgage (5) 308 338 4 325 12 RV and marine finance (2) 2 3 — 1 — Other consumer (2) 8 8 2 5 — (1) These tables do not include loans fully charged-off. (2) All automobile, RV and marine finance and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. (3) At December 31, 2018 and December 31, 2017 , C&I loans of $366 million and $382 million , respectively, were considered impaired due to their status as a TDR. (4) At December 31, 2018 and December 31, 2017 , CRE loans of $60 million and $93 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 all are classified as with an allowance recorded in the tables above. TDR Loans The amount of interest that would have been recorded under the original terms for total accruing TDR loans was $51 million , $49 million , and $49 million for 2018 , 2017 , and 2016 , respectively. The total amount of actual interest recorded to interest income for these loans was $48 million , $45 million , and $40 million for 2018 , 2017 , and 2016 , respectively. TDR Concession Types The Company’s standards relating to loan modifications consider, among other factors, minimum verified income requirements, cash flow analyses, and collateral valuations. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet a borrower’s specific circumstances at a point in time. All commercial TDRs are reviewed and approved by our SAD. Following is a description of TDRs by the different loan types: Commercial loan TDRs – Our strategy involving commercial TDR borrowers includes working with these borrowers to allow them to refinance elsewhere, as well as allow them time to improve their financial position and remain a Huntington customer through refinancing their notes according to market terms and conditions in the future. A subsequent refinancing or modification of a loan may occur when either the loan matures according to the terms of the TDR-modified agreement or the borrower requests a change to the loan agreements. At that time, the loan is evaluated to determine if the borrower is creditworthy. It is subjected to the normal underwriting standards and processes for other similar credit extensions, both new and existing. The refinanced note is evaluated to determine if it is considered a new loan or a continuation of the prior loan. A new loan is considered for removal of the TDR designation, whereas a continuation of the prior note requires a continuation of the TDR designation. In order for a TDR designation to be removed, the borrower must no longer be experiencing financial difficulties and the terms of the refinanced loan must not represent a concession. Consumer loan TDRs – Residential mortgage TDRs represent loan modifications associated with traditional first-lien mortgage loans in which a concession has been provided to the borrower. The primary concessions given to residential mortgage borrowers are amortization or maturity date changes and interest rate reductions. Residential mortgages identified as TDRs involve borrowers unable to refinance their mortgages through the Company’s normal mortgage origination channels or through other independent sources. Some, but not all, of the loans may be delinquent. The Company may make similar interest rate, term, and principal concessions for Automobile, Home Equity, RV and Marine Finance and Other Consumer loan TDRs. TDR Impact on Credit Quality Huntington’s ALLL is largely determined by risk ratings assigned to commercial loans, updated borrower credit scores on consumer loans, and borrower delinquency history in both the commercial and consumer portfolios. These risk ratings and credit scores consider the default history of the borrower, including payment redefaults. As such, the provision for credit losses is impacted primarily by changes in borrower payment performance rather than the TDR classification. TDRs can be classified as either accrual or nonaccrual loans. Nonaccrual TDRs are included in NALs whereas accruing TDRs are excluded from NALs as it is probable that all contractual principal and interest due under the restructured terms will be collected. The Company’s TDRs may include multiple concessions and the disclosure classifications are presented based on the primary concession provided to the borrower. The majority of the concessions for the C&I and CRE portfolios are the extension of the maturity date, but could also include an increase in the interest rate. In these instances, the primary concession is the maturity date extension. TDR concessions may also result in the reduction of the ALLL within the C&I and CRE portfolios. This reduction is derived from payments and the resulting application of the reserve calculation within the ALLL. The transaction reserve for non-TDR C&I and CRE loans is calculated based upon several estimated factors, such as PD and LGD. Upon the occurrence of a TDR in the C&I and CRE portfolios, the reserve is measured based on discounted expected cash flows or collateral value, less anticipated selling costs, of the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a lower ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a lower estimated loss, (2) if the modification includes a rate increase, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, exceeds the carrying value of the loan, or (3) payments may occur as part of the modification. Alternatively, the ALLL for C&I and CRE loans may increase as a result of the modification, as the discounted cash flow analysis may indicate additional reserves are required. TDR concessions on consumer loans may increase the ALLL. The concessions made to these borrowers often include interest rate reductions, and therefore, the TDR ALLL calculation results in a greater ALLL compared with the non-TDR calculation as the reserve is measured based on the estimation of the discounted expected cash flows or collateral value, less anticipated selling costs, on the modified loan in accordance with ASC 310-10. The resulting TDR ALLL calculation often results in a higher ALLL amount because (1) the discounted expected cash flows or collateral value, less anticipated selling costs, indicate a higher estimated loss or, (2) due to the rate decrease, the discounting of the cash flows on the modified loan, using the pre-modification interest rate, indicates a reduction in the present value of expected cash flows or collateral value, less anticipated selling costs. However, in certain instances, the ALLL may decrease as a result of payments made in connection with the modification. The following table presents, by class and modification type, the number of contracts, post-modification outstanding balance, and the financial effects of the modification for the years ended December 31, 2018 and 2017 . New Troubled Debt Restructurings (1) Year Ended December 31, 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 725 $ — $ 352 $ — $ — $ 352 Commercial real estate 102 — 82 — — 82 Automobile 2,867 — 15 8 — 23 Home equity 602 — 25 11 — 36 Residential mortgage 345 — 34 3 — 37 RV and marine finance 117 — — 1 — 1 Other consumer 1,633 8 — — — 8 Total new TDRs 6,391 $ 8 $ 508 $ 23 $ — $ 539 Year Ended December 31, 2017 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 1,047 $ 1 $ 600 $ — $ — $ 601 Commercial real estate 111 — 122 — — 122 Automobile 2,741 — 15 8 — 23 Home equity 922 2 33 11 4 50 Residential mortgage 453 — 40 7 2 49 RV and marine finance 131 — 1 1 — 2 Other consumer 1,340 — 6 — — 6 Total new TDRs 6,745 $ 3 $ 817 $ 27 $ 6 $ 853 (1) TDRs may include multiple concessions. The disclosure classifications are based on the primary concession provided to the borrower. (2) Post-modification balances approximate pre-modification balances. The aggregate amount of charge-offs as a result of a restructuring are not significant. The financial effects of modification represent the financial impact via provision (recovery) for loan and lease losses as a result of the modification and were $(15) million and $(13) million at December 31, 2018 and December 31, 2017, respectively. Pledged Loans and Leases The Bank has access to the Federal Reserve’s discount window and advances from the FHLB of Cincinnati. As of December 31, 2018 and 2017 , these borrowings and advances are secured by $46.5 billion and $31.7 billion of loans and securities, respectively. |
INVESTMENT SECURITIES AND OTHER
INVESTMENT SECURITIES AND OTHER SECURITIES | 12 Months Ended |
Dec. 31, 2018 | |
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 available-for-sale or other securities. The following tables provide amortized cost, fair value, and gross unrealized gains and losses by investment category at December 31, 2018 and 2017 : Unrealized (dollar amounts in millions) Amortized Cost Gross Gains Gross Losses 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 Unrealized (dollar amounts in millions) Amortized Gross Gross Fair Value December 31, 2017 Available-for-sale securities: U.S. Treasury $ 5 $ — $ — $ 5 Federal agencies: Residential CMO 6,661 1 (178 ) 6,484 Residential MBS 1,371 1 (5 ) 1,367 Commercial MBS 2,539 — (52 ) 2,487 Other agencies 69 1 — 70 Total U.S. Treasury, federal agency and other agency securities 10,645 3 (235 ) 10,413 Municipal securities 3,892 21 (35 ) 3,878 Asset-backed securities 482 1 (16 ) 467 Corporate debt 106 3 — 109 Other securities/Sovereign debt 2 — — 2 Total available-for-sale securities $ 15,127 $ 28 $ (286 ) $ 14,869 Held-to-maturity securities: Federal agencies: Residential CMO $ 3,714 $ 1 $ (58 ) $ 3,657 Residential MBS 1,049 2 (7 ) 1,044 Commercial MBS 3,791 — (55 ) 3,736 Other agencies 532 1 (4 ) 529 Total federal agency and other agency securities 9,086 4 (124 ) 8,966 Municipal securities 5 — — 5 Total held-to-maturity securities $ 9,091 $ 4 $ (124 ) $ 8,971 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 287 $ — $ — $ 287 Federal Reserve Bank stock 294 — — 294 Other securities, at fair value Mutual funds 18 — — 18 Marketable equity securities 1 — — 1 Total other securities $ 600 $ — $ — $ 600 The following table provides the amortized cost and fair value of securities by contractual maturity at 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. 2018 (dollar amounts in millions) Amortized Cost Fair Value Available-for-sale securities: Under 1 year $ 186 $ 185 After 1 year through 5 years 1,057 1,039 After 5 years through 10 years 1,838 1,802 After 10 years 11,027 10,754 Total available-for-sale securities $ 14,108 $ 13,780 Held-to-maturity securities: Under 1 year $ — $ — After 1 year through 5 years 11 11 After 5 years through 10 years 362 356 After 10 years 8,192 7,919 Total held-to-maturity securities $ 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 December 31, 2018 and 2017 : 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 ) Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized December 31, 2017 Available-for-sale securities: Federal agencies: Residential CMO $ 1,660 $ (19 ) $ 4,520 $ (159 ) $ 6,180 $ (178 ) Residential MBS 1,078 (5 ) 11 — 1,089 (5 ) Commercial MBS 960 (15 ) 1,527 (37 ) 2,487 (52 ) Other agencies 39 — — — 39 — Total federal agency and other agency securities 3,737 (39 ) 6,058 (196 ) 9,795 (235 ) Municipal securities 1,681 (21 ) 497 (14 ) 2,178 (35 ) Asset-backed securities 127 (1 ) 173 (15 ) 300 (16 ) Total temporarily impaired securities $ 5,545 $ (61 ) $ 6,728 $ (225 ) $ 12,273 $ (286 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 2,369 $ (26 ) $ 1,019 $ (32 ) $ 3,388 $ (58 ) Residential MBS 974 (7 ) — — 974 (7 ) Commercial MBS 3,456 (49 ) 253 (6 ) 3,709 (55 ) Other agencies 249 (2 ) 139 (2 ) 388 (4 ) Total federal agency and other agency securities 7,048 (84 ) 1,411 (40 ) 8,459 (124 ) Municipal securities — — 5 — 5 — Total temporarily impaired securities $ 7,048 $ (84 ) $ 1,416 $ (40 ) $ 8,464 $ (124 ) Upon adoption of ASU 2017-12, Huntington transferred $2.8 billion of securities eligible to be hedged under the last-of-layer method from the HTM portfolio to the AFS portfolio. At the time of the transfer, $26 million of unrealized losses were recognized in OCI. Concurrently, Huntington transferred $2.7 billion of securities from the AFS portfolio to the HTM portfolio. At the time of the transfer, AOCI included $56 million of unrealized losses attributed to these securities. This loss will be amortized into interest income over the remaining life of the securities. At December 31, 2018 , the carrying value of investment securities pledged to secure public and trust deposits, trading account liabilities, U.S. Treasury demand notes, and security repurchase agreements totaled $4.5 billion . There were no securities of a single issuer, which are not governmental or government-sponsored, that exceeded 10% of shareholders’ equity at December 31, 2018 . The following table is a summary of realized securities gains and losses for the years ended December 31, 2018 , 2017 , and 2016 : Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Gross gains on sales of securities $ 7 $ 10 $ 23 Gross (losses) on sales of securities (28 ) (10 ) (21 ) Net gain (loss) on sales of securities $ (21 ) $ — $ 2 OTTI recognized in earnings — (4 ) (2 ) Net securities (losses) $ (21 ) $ (4 ) $ — Security Impairment Huntington evaluates the securities portfolio for impairment on a quarterly basis. As of December 31, 2018, the Company has evaluated available-for-sale and held-to-maturity securities with gross unrealized losses for impairment and concluded no OTTI is required. Other securities that are carried at cost are reviewed at least annually for impairment, with valuation adjustments recognized in other noninterest income. As of December 31, 2018, the Company concluded no impairment is required. |
MORTGAGE LOAN SALES AND SERVICI
MORTGAGE LOAN SALES AND SERVICING RIGHTS | 12 Months Ended |
Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | |
MORTGAGE LOAN SALES AND SERVICING RIGHTS | MORTGAGE LOAN SALES AND SERVICING RIGHTS Residential Mortgage Portfolio The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the years ended December 31, 2018 , 2017 , and 2016 : Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Residential mortgage loans sold with servicing retained $ 3,846 $ 3,985 $ 3,632 Pretax gains resulting from above loan sales (1) 87 99 97 (1) Recorded in mortgage banking income. The following table summarizes the changes in MSRs recorded using the amortization method for the years ended December 31, 2018 and 2017 : (dollar amounts in millions) 2018 2017 Carrying value, beginning of year $ 191 $ 172 New servicing assets created 44 44 Impairment recovery (charge) 6 1 Amortization and other (30 ) (26 ) Carrying value, end of year $ 211 $ 191 Fair value, end of year $ 212 $ 191 Weighted-average life (years) 6.7 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 December 31, 2018 , and 2017 follows: December 31, 2018 December 31, 2017 Decline in fair value due to Decline in fair value due to (dollar amounts in millions) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 9.40 % $ (6 ) $ (12 ) 8.30 % $ (5 ) $ (10 ) Spread over forward interest rate swap rates 934 bps (7 ) (13 ) 1,049 bps (7 ) (13 ) Additionally, Huntington held MSRs recorded using the fair value method of $10 million and $11 million at December 31, 2018 and 2017 , respectively. The change in fair value representing time decay, payoffs and changes in valuation inputs and assumptions for the years ended December 31, 2018 and 2017 was $1 million and $3 million , respectively. Total servicing, late and other ancillary fees included in mortgage banking income was $60 million , $56 million , and $50 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. The unpaid principal balance of residential mortgage loans serviced for third parties was $21.0 billion , $19.8 billion , and $18.9 billion at December 31, 2018 , 2017 , and 2016 , respectively. |
GOODWILL AND OTHER INTANGIBLE A
GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have four major business segments: Consumer and Business Banking , Commercial Banking , Vehicle Finance , and Regional Banking and The Huntington Private Client Group (RBHPCG) . The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense. A rollforward of goodwill by business segment for the years ended December 31, 2018 and 2017 , is presented in the table below: Consumer & Business Commercial Vehicle Treasury/ Huntington (dollar amounts in millions) Banking Banking Finance RBHPCG Other Consolidated Balance, January 1, 2017 $ 1,398 $ 453 $ — $ 142 $ — $ 1,993 Adjustments — (28 ) — 28 — — Balance, December 31, 2017 1,398 425 — 170 — 1,993 Goodwill acquired during the period — 1 — — — 1 Adjustments (5 ) — — — — (5 ) Balance, December 31, 2018 $ 1,393 $ 426 $ — $ 170 $ — $ 1,989 Huntington announced a change in its executive leadership team, which became effective at the end of 2017. As a result, Commercial Real Estate is now included as an operating unit in the Commercial Banking segment. During the 2017 second quarter, the previously reported Home Lending segment was included as an operating unit within the Consumer and Business Banking segment, and the Insurance operating unit previously included in Commercial Banking was realigned to RBHPCG. As a result of these changes, Huntington reclassified a net $28 million of goodwill from the Commercial Banking segment to the RBHPCG segment. On October 1, 2018, Huntington completed its acquisition of HSE. As part of the transaction, Huntington recorded $1 million of goodwill. During the fourth quarter of 2018, Huntington reclassified $5 million of goodwill in the Consumer & Business Banking segment related to the held for sale disposal group. Goodwill is not amortized but is evaluated for impairment on an annual basis at October 1 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. No impairment was recorded in 2018 or 2017 . At December 31, 2018 and 2017 , Huntington’s other intangible assets consisted of the following: (dollar amounts in millions) Gross Accumulated Net December 31, 2018 Core deposit intangible $ 314 $ (93 ) $ 221 Customer relationship 182 (122 ) 60 Total other intangible assets $ 496 $ (215 ) $ 281 December 31, 2017 Core deposit intangible $ 325 $ (61 ) $ 264 Customer relationship 190 (108 ) 82 Total other intangible assets $ 515 $ (169 ) $ 346 The estimated amortization expense of other intangible assets for the next five years is as follows: (dollar amounts in millions) Amortization Expense 2019 $ 49 2020 41 2021 38 2022 36 2023 34 |
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
PREMISES AND EQUIPMENT | PREMISES AND EQUIPMENT Premises and equipment were comprised of the following at December 31, 2018 and 2017 : At December 31, (dollar amounts in millions) 2018 2017 Land and land improvements $ 188 $ 193 Buildings 579 563 Leasehold improvements 199 240 Equipment 739 746 Total premises and equipment 1,705 1,742 Less accumulated depreciation and amortization (915 ) (878 ) Net premises and equipment $ 790 $ 864 Depreciation and amortization charged to expense and rental income credited to net occupancy expense for the three years ended December 31, 2018 , 2017 , and 2016 were: (dollar amounts in millions) 2018 2017 2016 Total depreciation and amortization of premises and equipment $ 130 $ 123 $ 126 Rental income credited to occupancy expense 13 14 13 |
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
SHORT-TERM BORROWINGS | SHORT-TERM BORROWINGS Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following at December 31, 2018 and 2017 : At December 31, (dollar amounts in millions) 2018 2017 Federal funds purchased and securities sold under agreements to repurchase $ 2,004 $ 1,318 Federal Home Loan Bank advances — 3,725 Other borrowings 13 13 Total short-term borrowings $ 2,017 $ 5,056 Other borrowings consist of borrowings from the U.S. Treasury and other notes payable. |
LONG-TERM DEBT
LONG-TERM DEBT | 12 Months Ended |
Dec. 31, 2018 | |
Debt Instruments [Abstract] | |
LONG-TERM DEBT | LONG-TERM DEBT Huntington’s long-term debt consisted of the following: At December 31, (dollar amounts in millions) 2018 2017 The Parent Company: Senior Notes: 3.19% Huntington Bancshares Incorporated medium-term notes due 2021 $ 969 $ 969 2.33% Huntington Bancshares Incorporated senior notes due 2022 946 953 4.00% Huntington Bancshares Incorporated senior notes due 2025 507 — 2.64% Huntington Bancshares Incorporated senior notes due 2018 — 399 Subordinated Notes: 7.00% Huntington Bancshares Incorporated subordinated notes due 2020 305 312 3.55% Huntington Bancshares Incorporated subordinated notes due 2023 239 245 Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 (1) 74 74 Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 (1) 72 72 Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 (2) 69 69 Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 (3) 31 31 Camco Financial Statutory Trust I 4.13% due 2037 (4) 4 4 Total notes issued by the parent 3,216 3,128 The Bank: Senior Notes: 3.55% Huntington National Bank senior notes due 2023 756 — 3.25% Huntington National Bank senior notes due 2021 750 — 2.47% Huntington National Bank senior notes due 2020 692 694 2.55% Huntington National Bank senior notes due 2022 672 685 2.23% Huntington National Bank senior notes due 2019 498 497 2.43% Huntington National Bank senior notes due 2020 493 498 2.97% Huntington National Bank senior notes due 2020 491 492 3.31% Huntington National Bank senior notes due 2020 (5) 300 300 2.24% Huntington National Bank senior notes due 2018 — 844 2.10% Huntington National Bank senior notes due 2018 — 748 1.75% Huntington National Bank senior notes due 2018 — 496 5.04% Huntington National Bank medium-term notes due 2018 — 35 Subordinated Notes: 3.86% Huntington National Bank subordinated notes due 2026 229 238 5.45% Huntington National Bank subordinated notes due 2019 76 77 6.67% Huntington National Bank subordinated notes due 2018 — 129 Total notes issued by the bank 4,957 5,733 FHLB Advances: 3.12% weighted average rate, varying maturities greater than one year 6 7 Other: Huntington Technology Finance nonrecourse debt, 4.19% effective interest rate, varying maturities 322 263 4.68% Huntington Preferred Capital II - Class F securities (6) 74 75 4.68% Huntington Preferred Capital II - Class G securities (6) 50 — Total other 446 338 Total long-term debt $ 8,625 $ 9,206 (1) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40% . (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70% (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625% . (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.33% . (5) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.51% (6) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.88% . Amounts above are net of unamortized discounts and adjustments related to hedging with derivative financial instruments. The derivative instruments, principally interest rate swaps, are used to hedge interest rate risk of certain fixed-rate debt by converting the debt to a variable rate. See Note 18 for more information regarding such financial instruments. In May 2018, Huntington issued $500 million of senior notes at 99.686% of face value. The senior notes mature on May 15, 2025 and have a fixed coupon rate of 4.00% . In May 2018, the Bank issued $750 million of senior notes at 99.774% of face value. The senior notes mature on May 14, 2021 and have a fixed coupon rate of 3.25% . In August 2018, the Bank issued $750 million of senior notes at 99.780% of face value. The senior notes mature on October 6, 2023 and have a fixed coupon rate of 3.55% . In March 2017, the Bank issued $700 million of senior notes at 99.994% of face value. The senior notes mature on March 10, 2020 and have a fixed coupon rate of 2.375% . The senior notes may be redeemed one month prior to the maturity date at 100% of principal plus accrued and unpaid interest. Also, in March 2017, the Bank issued $300 million of senior notes at 100% of face value. In August 2017, the Bank issued $700 million of senior notes at 99.762% of face value. The senior notes mature on August 7, 2022 and have a fixed coupon rate of 2.50% . Long-term debt maturities for the next five years and thereafter are as follows: (dollar amounts in millions) 2019 2020 2021 2022 2023 Thereafter Total The Parent Company: Senior notes $ — $ — $ 1,000 $ 1,000 $ — $ 500 $ 2,500 Subordinated notes — 300 — — 250 253 803 The Bank: Senior notes 500 2,000 750 700 750 — 4,700 Subordinated notes 76 — — — — 250 326 FHLB Advances 1 2 — 1 1 1 6 Other 16 74 85 163 108 — 446 Total $ 593 $ 2,376 $ 1,835 $ 1,864 $ 1,109 $ 1,004 $ 8,781 These maturities are based upon the par values of the long-term debt. The terms of the long-term debt obligations contain various restrictive covenants including limitations on the acquisition of additional debt in excess of specified levels, dividend payments, and the disposition of subsidiaries. As of December 31, 2018 , Huntington was in compliance with all such covenants. |
OTHER COMPREHENSIVE INCOME
OTHER COMPREHENSIVE INCOME | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME The components of Huntington’s OCI in the three years ended December 31, 2018 , 2017 , and 2016 , were as follows: 2018 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized holding gains (losses) on available-for-sale debt securities $ (151 ) $ 35 $ (116 ) Less: Reclassification adjustment for net losses (gains) included in net income 41 (9 ) 32 Net change in unrealized holding gains (losses) on available-for-sale debt securities (110 ) 26 (84 ) Net change in pension and other post-retirement obligations 4 — 4 Total other comprehensive income (loss) $ (106 ) $ 26 $ (80 ) 2017 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 4 $ (2 ) $ 2 Unrealized holding gains (losses) on available-for-sale debt securities (87 ) 31 (56 ) Less: Reclassification adjustment for net losses (gains) included in net income 26 (9 ) 17 Net change in unrealized holding gains (losses) on available-for-sale debt securities (57 ) 20 (37 ) Net change in unrealized holding gains (losses) on available-for-sale equity securities 1 (1 ) — Unrealized gains (losses) on derivatives used in cash flow hedging relationships 3 (1 ) 2 Less: Reclassification adjustment for net (gains) losses included in net income 1 — 1 Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 4 (1 ) 3 Net change in pension and other post-retirement obligations — — — Total other comprehensive income (loss) $ (52 ) $ 18 $ (34 ) 2016 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 1 $ — $ 1 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (203 ) 70 (133 ) Less: Reclassification adjustment for net gains (losses) included in net income (107 ) 38 (69 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities (309 ) 108 (201 ) Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period 2 (1 ) 1 Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 2 (1 ) 1 Net change in pension and post-retirement obligations 38 (13 ) 25 Total other comprehensive income (loss) $ (269 ) $ 94 $ (175 ) Activity in accumulated OCI for the two years ended December 31, 2018 and 2017 were as follows: (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Unrealized gains (losses) on cash flow hedging derivatives Unrealized gains (losses) for pension and other post-retirement obligations Total December 31, 2016 $ (193 ) $ (3 ) $ (205 ) $ (401 ) Other comprehensive income before reclassifications (54 ) 2 (10 ) (62 ) Amounts reclassified from accumulated OCI to earnings 17 1 10 28 Period change (37 ) 3 — (34 ) TCJA, Reclassification from accumulated OCI to retained earnings (48 ) — (45 ) (93 ) December 31, 2017 (278 ) — (250 ) (528 ) Cumulative-effect adjustments (ASU 2016-01) (1 ) — — (1 ) Other comprehensive income before reclassifications (116 ) — — (116 ) Amounts reclassified from accumulated OCI to earnings 32 — 4 36 Period change (84 ) — 4 (80 ) December 31, 2018 $ (363 ) $ — $ (246 ) $ (609 ) (1) AOCI amounts at December 31, 2018 , 2017 , and 2016 include $137 million , $95 million , and $82 million of net unrealized losses (before any deferred tax benefits) 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 Consolidated Statements of Income for the years ended December 31, 2018 and 2017 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings (dollar amounts in millions) 2018 2017 Gains (losses) on debt securities: Amortization of unrealized (losses) $ (13 ) $ (8 ) Interest income—held-to-maturity securities—taxable Realized (loss) on sale of securities (28 ) (14 ) Noninterest income—net gains (losses) on sale of securities OTTI recorded — (4 ) Noninterest income— I mpairment losses recognized in earnings on available-for-sale securities Total before tax (41 ) (26 ) Tax benefit 9 9 Net of tax $ (32 ) $ (17 ) Gains (losses) on cash flow hedging relationships: Interest rate contracts $ — $ (1 ) Interest and fee income—loans and leases Total before tax — (1 ) Tax benefit — — Net of tax $ — $ (1 ) Amortization of defined benefit pension and post-retirement items: Actuarial losses $ (13 ) $ (18 ) Noninterest income / expense (1) Net periodic benefit costs 4 2 Noninterest income / expense (1) Total before tax (9 ) (16 ) Tax benefit 2 6 Net of tax $ (7 ) $ (10 ) (1) The activity for 2018 and 2017 is recorded in Noninterest Income - other income and Noninterest Expense - personnel costs, respectively, on the Consolidated Statements of Income. |
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY | 12 Months Ended |
Dec. 31, 2018 | |
Stockholders' Equity Note [Abstract] | |
SHAREHOLDERS' EQUITY | SHAREHOLDERS’ EQUITY The following is a summary of Huntington’s non-cumulative, non-voting, perpetual preferred stock outstanding as of December 31, 2018 . (dollar amounts in millions, share amounts in thousands) Series Issuance Date Total Shares Outstanding Carrying Amount Dividend Rate Earliest Redemption Date Series B 12/28/2011 35,500 $ 23 3-mo. LIBOR + 270 bps 1/15/2017 Series D 3/21/2016 400,000 386 6.25 % 7/15/2021 Series D 5/5/2016 200,000 199 6.25 % 7/15/2021 Series C 8/16/2016 100,000 100 5.875 % 1/15/2022 Series E 2/27/2018 5,000 495 5.70 % 4/15/2023 Total 740,500 $ 1,203 Series B, D, and C of preferred stock has a liquidation value and redemption price per share of $1,000 , plus any declared and unpaid dividends. Series E preferred stock has a liquidation value and redemption price per share of $100,000 , plus any declared and unpaid dividends. All preferred stock has no stated maturity and redemption is solely at the option of the Company. Under current rules, any redemption of the preferred stock is subject to prior approval of the FRB. Preferred A Stock conversion On February 21, 2018 , Huntington elected to effect the conversion of all of its outstanding 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock into common stock pursuant to the terms of the Series A Preferred Stock. On February 22, 2018 , each share of Series A Preferred Stock was converted into 83.668 shares of Common Stock. Upon conversion, the Series A Preferred Stock is no longer outstanding and all rights with respect to the Series A Preferred Stock were ceased and terminated, except the right to receive the number of whole shares and any required cash-in-lieu of fractional shares of Common Stock. Following the conversion, the Series A Preferred Stock shares were delisted from trading on NASDAQ. Preferred E Stock issued and outstanding On February 27, 2018 , Huntington issued $500 million of preferred stock. Huntington issued 500,000 depositary shares, each depositary shares representing a 1/100th ownership interest in a share of 5.70% Series E Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock (Preferred E Stock), par value $0.01 per share, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share). Each holder of a depositary share will be entitled to all proportional rights and preferences of the Preferred E Stock (including dividend, voting, redemption, and liquidation rights). Costs of $5 million related to the issuance of the Preferred E Stock are reported as a direct deduction from the face amount of the stock. Dividends on the Preferred E Stock will be non-cumulative and payable quarterly in arrears, when, and if, authorized by the Company’s board of directors or a duly authorized committee of the board and declared by the Company, at an annual rate of 5.70% per year on the liquidation preference of $100,000 per share, equivalent to $1,000 per depositary share. The dividend payment dates are the fifteenth day of each January, April, July and October, which commenced on July 15, 2018. The Preferred E Stock has no maturity date. Huntington may redeem the Preferred E Stock at its option, (i) in whole or in part, from time to time, on any dividend payment date on or after April 15, 2023 or (ii) in whole but not in part, within 90 days following a change in laws or regulations, in each case, at a redemption price equal to $100,000 per share (equivalent to $1,000 per depositary share), plus any declared and unpaid dividends, without regard to any undeclared dividends on the Series E Preferred Stock prior to the date fixed for redemption. If Huntington redeems the Preferred E Stock, the depositary will redeem a proportional number of depositary shares. Neither the holders of Preferred E Stock nor holders of depositary shares will have the right to require the redemption or repurchase of the Preferred E Stock or the depositary shares. |
EARNINGS PER SHARE
EARNINGS PER SHARE | 12 Months Ended |
Dec. 31, 2018 | |
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, distributions from deferred compensation plans, and the conversion of the Company’s convertible preferred stock. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. On February 22, 2018, Huntington converted all its outstanding 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock to 30.3 million shares of common stock. Following the conversion, the additional shares were included in average common shares issued and outstanding. The 2018 and 2017 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 each of the three years ended December 31 was as follows: Year Ended December 31, (dollar amounts in millions, except per share data, share count in thousands) 2018 2017 2016 Basic earnings per common share: Net income $ 1,393 $ 1,186 $ 712 Preferred stock dividends (70 ) (76 ) (65 ) Net income available to common shareholders $ 1,323 $ 1,110 $ 647 Average common shares issued and outstanding 1,081,542 1,084,686 904,438 Basic earnings per common share $ 1.22 $ 1.02 $ 0.72 Diluted earnings per common share: Net income available to common shareholders $ 1,323 $ 1,110 $ 647 Effect of assumed preferred stock conversion — 31 — Net income applicable to diluted earnings per share $ 1,323 $ 1,141 $ 647 Average common shares issued and outstanding 1,081,542 1,084,686 904,438 Dilutive potential common shares Stock options and restricted stock units and awards 16,529 17,883 11,728 Shares held in deferred compensation plans 3,511 3,160 2,486 Dilutive impact of Preferred Stock 4,403 30,330 — Other — 127 138 Dilutive potential common shares 24,443 51,500 14,352 Total diluted average common shares issued and outstanding 1,105,985 1,136,186 918,790 Diluted earnings per common share $ 1.20 $ 1.00 $ 0.70 There were approximately 2.3 million , 1.0 million , and 3.1 million options to purchase shares of common stock not included in the computation of diluted earnings per share because the effect would be antidilutive at December 31, 2018 , 2017 , and 2016 , respectively. |
NONINTEREST INCOME
NONINTEREST INCOME | 12 Months Ended |
Dec. 31, 2018 | |
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 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) Year Ended Noninterest income Noninterest income from contracts with customers $ 881 Noninterest income within the scope of other GAAP topics 440 Total noninterest income $ 1,321 The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 23 : (dollar amounts in millions) Year Ended December 31, 2018 Major Revenue Streams Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Service charges on deposit accounts $ 290 $ 64 $ 5 $ 4 $ — $ 363 Card and payment processing income 198 11 — — — 209 Trust and investment management services 28 4 — 139 — 171 Insurance income 34 5 — 41 2 82 Other income 38 6 3 8 1 56 Net revenue from contracts with customers $ 588 $ 90 $ 8 $ 192 $ 3 $ 881 Noninterest income within the scope of other GAAP topics 150 223 2 1 64 440 Total noninterest income $ 738 $ 313 $ 10 $ 193 $ 67 $ 1,321 Huntington generally provides services for customers in which it acts as principal. Payment terms and conditions vary amongst services and customers, and thus impact the timing and amount of revenue recognition. Some fees may be paid before any service is rendered and accordingly, such fees are deferred until the obligations pertaining to those fees are satisfied. Most Huntington contracts with customers are cancelable by either party without penalty or they are short-term in nature, with a contract duration of less than one year. Accordingly, most revenue deferred for the reporting period ended December 31, 2018 is expected to be earned within one year. Huntington does not have significant balances of contract assets or contract liabilities and any change in those balances during the reporting period ended December 31, 2018 was determined to be immaterial. |
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
SHARE-BASED COMPENSATION | Huntington sponsors nonqualified and incentive share based compensation plans. These plans provide for the granting of stock options and other awards to officers, directors, and other employees. Compensation costs are included in personnel costs on the Consolidated Statements of Income. Stock options and awards are granted at the closing market price on the date of the grant. Options granted typically vest ratably over four years or when other conditions are met. Stock options, which represented a portion of the grant values, have no intrinsic value until the stock price increases. Options granted on or after May 1, 2015 have a contractual term of ten years . All options granted on or before April 30, 2015 have a contractual term of seven years . 2018 Long-Term Incentive Plan In 2018, shareholders approved the Huntington Bancshares Incorporated 2018 Long-Term Incentive Plan (the 2018 Plan). Shares remaining under the 2015 Long-Term Incentive Plan have been incorporated into the 2018 Plan. Accordingly, the total number of shares authorized for awards under the 2018 Plan is 33 million shares. At December 31, 2018 , 26 million shares from the Plan were available for future grants. Huntington issues shares to fulfill stock option exercises and restricted stock unit and award vesting from available authorized common shares. At December 31, 2018 , Huntington believes there are adequate authorized common shares to satisfy anticipated stock option exercises and restricted stock unit and award vesting in 2019 . The following table presents total share-based compensation expense and related tax benefit for the three years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) 2018 2017 2016 Share-based compensation expense $ 78 $ 92 $ 66 Tax benefit 14 32 22 Huntington uses the Black-Scholes option pricing model to value options in determining the share-based compensation expense. Forfeitures are estimated at the date of grant based on historical rates, and updated as necessary, and reduce the compensation expense recognized. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant. The expected dividend yield is based on the dividend rate and stock price at the date of the grant. Expected volatility is based on the estimated volatility of Huntington’s stock over the expected term of the option. The following table presents the weighted average assumptions used in the option-pricing model at the grant date for options granted in the three years ended December 31, 2018 , 2017 , and 2016 : Assumptions 2018 2017 2016 Risk-free interest rate 2.88 % 2.04 % 1.63 % Expected dividend yield 3.71 3.31 3.18 Expected volatility of Huntington’s common stock 24.0 29.5 30.0 Expected option term (years) 6.5 6.5 6.5 Weighted-average grant date fair value per share $ 2.58 $ 2.81 $ 2.17 Huntington’s stock option activity and related information for the year ended December 31, 2018 , was as follows: (dollar amounts in millions, except per share and options amounts in thousands) Options Weighted- Weighted-Average Contractual Life (Years) Aggregate Outstanding at January 1, 2018 13,918 $ 8.21 Granted 2,538 14.81 Exercised (5,775 ) 6.57 Forfeited/expired (64 ) 13.31 Outstanding at December 31, 2018 10,617 $ 10.64 5.4 $ 22 Expected to vest (1) 4,503 $ 13.36 8.6 $ 2 Exercisable at December 31, 2018 5,981 $ 8.52 3.0 $ 21 (1) The number of options expected to vest reflects an estimate of 133,000 shares expected to be forfeited. The aggregate intrinsic value represents the amount by which the fair value of underlying stock exceeds the “in-the-money” option exercise price. The total intrinsic value of options exercised for the years ended December 31, 2018 , 2017 , and 2016 were $52 million , $16 million and $11 million , respectively. For the years ended December 31, 2018 , 2017 , and 2016 , cash received for the exercises of stock options was $5 million , $11 million and $14 million , respectively. The tax benefit realized for the tax deductions from option exercises totaled $10 million , $5 million and $3 million in 2018 , 2017 , and 2016 , respectively. Huntington also grants restricted stock awards, restricted stock units, performance share units, and other stock-based awards. Restricted stock units and awards are issued at no cost to the recipient, and can be settled only in shares at the end of the vesting period. Restricted stock awards provide the holder with full voting rights and cash dividends during the vesting period. Restricted stock units do not provide the holder with voting rights or cash dividends during the vesting period, but do accrue a dividend equivalent that is paid upon vesting, and are subject to certain service restrictions. Performance share units are payable contingent upon Huntington achieving certain predefined performance objectives over the three -year measurement period. The fair value of these awards reflects the closing market price of Huntington’s common stock on the grant date. The following table summarizes the status of Huntington’s restricted stock awards, units, and performance share units as of December 31, 2018 , and activity for the year ended December 31, 2018 : Restricted Stock Awards Restricted Stock Units Performance Share Units (amounts in thousands, except per share amounts) Quantity Weighted- Average Grant Date Fair Value Per Share Quantity Weighted- Average Grant Date Fair Value Per Share Quantity Weighted- Average Grant Date Fair Value Per Share Nonvested at January 1, 2018 448 $ 9.68 16,159 $ 11.26 3,018 $ 10.67 Granted — — 4,743 15.01 691 14.81 Vested (227 ) 9.68 (4,948 ) 10.56 (719 ) 10.89 Forfeited (20 ) 9.68 (474 ) 12.32 (32 ) 12.27 Nonvested at December 31, 2018 201 $ 9.68 15,480 $ 12.51 2,958 $ 11.75 The weighted-average fair value at grant date of nonvested shares granted for the years ended December 31, 2018 , 2017 , and 2016 were $14.98 , $11.13 , and $9.59 , respectively. The total fair value of awards vested during the years ended December 31, 2018 , 2017 , and 2016 was $62 million , $53 million , and $31 million , respectively. As of December 31, 2018 , the total unrecognized compensation cost related to nonvested shares was $96 million with a weighted-average expense recognition period of 2.3 years . |
BENEFIT PLANS
BENEFIT PLANS | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
BENEFIT PLANS | BENEFIT PLANS Huntington sponsors a non-contributory defined benefit pension plan covering substantially all employees hired or rehired prior to January 1, 2010. The plan, which was modified in 2013, no longer accrues service benefits to participants and provides benefits based upon length of service and compensation levels. Huntington’s funding policy is to contribute an annual amount that is at least equal to the minimum funding requirements but not more than the amount deductible under the Internal Revenue Code. There were no required minimum contributions during 2018. The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2018 and 2017 , and the net periodic benefit cost for the years then ended: Pension Benefits 2018 2017 Weighted-average assumptions used to determine benefit obligations Discount rate 4.41 % 3.73 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 3.73 4.38 Expected return on plan assets 5.75 6.50 The expected long-term rate of return on plan assets is an assumption reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The expected long-term rate of return is established at the beginning of the plan year based upon historical returns and projected returns on the underlying mix of invested assets. The following table reconciles the beginning and ending balances of the benefit obligation of the Plan with the amounts recognized in the consolidated balance sheets at December 31: Pension Benefits (dollar amounts in millions) 2018 2017 Projected benefit obligation at beginning of measurement year $ 900 $ 851 Changes due to: Service cost 3 3 Interest cost 29 30 Benefits paid (26 ) (27 ) Settlements (18 ) (31 ) Actuarial assumptions and gains (losses) (67 ) 74 Total changes (79 ) 49 Projected benefit obligation at end of measurement year $ 821 $ 900 The following table reconciles the beginning and ending balances of the fair value of Plan assets at the December 31, 2018 and 2017 measurement dates: Pension Benefits (dollar amounts in millions) 2018 2017 Fair value of plan assets at beginning of measurement year $ 903 $ 841 Changes due to: Actual return on plan assets (30 ) 118 Settlements (19 ) (29 ) Benefits paid (26 ) (27 ) Total changes (75 ) 62 Fair value of plan assets at end of measurement year $ 828 $ 903 As of December 31, 2018 , the difference between the accumulated benefit obligation and the fair value of Huntington’s plan assets was $7 million and is recorded in other liabilities. The following table shows the components of net periodic benefit costs recognized in the three years ended December 31, 2018 : Pension Benefits (1) (dollar amounts in millions) 2018 2017 2016 Service cost $ 3 $ 3 $ 5 Interest cost 29 30 30 Expected return on plan assets (49 ) (55 ) (45 ) Amortization of loss 9 7 7 Settlements 7 11 (8 ) Benefit costs $ (1 ) $ (4 ) $ (11 ) (1) The pension costs for 2018 were recorded in noninterest income - other income. For 2017 and 2016 the costs were recorded in noninterest expense - personnel costs, in the Consolidated Statements of Income. Included in benefit costs above are $2 million , $2 million , and $2 million of plan expenses that were recognized in each of the three years ended December 31, 2018 , 2017 , and 2016 . It is Huntington’s policy to recognize settlement gains and losses as incurred. Assuming no cash contributions are made to the Plan during 2019 , Huntington expects net periodic pension benefit, excluding any expense of settlements, to approximate $3 million for 2019 . At December 31, 2018 and 2017 , The Huntington National Bank, as trustee, held all Plan assets. The Plan assets consisted of investments in a variety of corporate and government fixed income investments, money market funds, and mutual funds as follows: Fair Value (dollar amounts in millions) 2018 2017 Cash equivalents: Mutual funds-money market $ 4 — % $ 14 2 % U.S. Treasury bills 4 1 5 1 Fixed income: Corporate obligations 272 33 293 32 U.S. Government obligations 298 36 216 24 U.S. Government agencies 22 3 23 3 Equities: Mutual funds-equities 64 8 118 13 Common stock 98 12 158 17 Preferred stock 5 1 5 1 Exchange traded funds 45 5 58 6 Limited Partnerships 16 1 13 1 Fair value of plan assets $ 828 100 % $ 903 100 % Investments of the Plan are accounted for at cost on the trade date and are reported at fair value. The valuation methodologies used to measure the fair value of pension plan assets vary depending on the type of asset. At December 31, 2018 , cash equivalent money market funds and U.S. Treasury bills are valued at the closing price reported from an actively traded exchange and are classified as Level 1. Mutual funds and exchange traded funds are valued at quoted market prices that represent the net asset value of shares held by the Plan at year-end. The mutual funds held by the Plan are actively traded and are classified as Level 1. Fixed income investments are valued using unadjusted quoted prices from active markets for similar assets are classified as Level 2. Common and preferred stock are valued using the year-end closing price as determined by a national securities exchange and are classified as Level 1. The investment in the limited partnerships is reported at net asset value per share as determined by the general partners of each limited partnership, based on their proportionate share of the partnership’s fair value as recorded in the partnership’s audited financial statements. The investment objective of the Plan is to maximize the return on Plan assets over a long-time period, while meeting the Plan obligations. At December 31, 2018 , Plan assets were invested 1% in cash equivalents, 27% in equity investments, and 72% in bonds, with an average duration of 12.7 years on bond investments. The estimated life of benefit obligations was 12.4 years . Although it may fluctuate with market conditions, Huntington has targeted a long-term allocation of Plan assets of 20% to 50% in equity investments and 80% to 50% in bond investments. The allocation of Plan assets between equity investments and fixed income investments will change from time to time. At December 31, 2018 , the following table shows when benefit payments were expected to be paid: (dollar amounts in millions) Pension Benefits 2019 $ 49 2020 49 2021 48 2022 48 2023 48 2024 through 2028 238 Huntington also sponsors an unfunded defined benefit post-retirement plan as well as other nonqualified retirement plans, the most significant being the SRIP and FirstMerit SERP. The SRIP and FirstMerit SERP plans provide certain former officers and directors, with defined pension benefits in excess of limits imposed by federal tax law. The following table presents the amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 , for all defined benefit and nonqualified retirement plans: (dollar amounts in millions) 2018 2017 Other liabilities $ 63 $ 78 The following tables present the amounts recognized in OCI as of December 31, 2018 , 2017 , and 2016 , and the changes in accumulated OCI for the years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) 2018 2017 2016 Net actuarial loss $ (257 ) $ (264 ) $ (217 ) Prior service cost 11 14 12 Defined benefit pension plans $ (246 ) $ (250 ) $ (205 ) 2018 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax Net actuarial (loss) gain: Amounts arising during the year $ (5 ) $ 2 $ (3 ) Amortization included in net periodic benefit costs 13 (3 ) 10 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (4 ) 1 (3 ) Total recognized in OCI $ 4 $ — $ 4 2017 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax (1) Net actuarial (loss) gain: Amounts arising during the year $ (16 ) $ 6 $ (10 ) Amortization included in net periodic benefit costs 18 (7 ) 11 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (2 ) 1 (1 ) Total recognized in OCI $ — $ — $ — (1) TCJA reclassification from AOCI to retained earnings recorded during 2017 was $45 million. 2016 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax Net actuarial (loss) gain: Amounts arising during the year $ 38 $ (13 ) $ 25 Amortization included in net periodic benefit costs 2 (1 ) 1 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (2 ) 1 (1 ) Total recognized in OCI $ 38 $ (13 ) $ 25 Huntington has a defined contribution plan that is available to eligible employees. Beginning January 1, 2018, Huntington increased the company match such that Huntington matches participant contributions 150% of the first 2% of base pay and 100% of the next 2%. Huntington’s expense related to the defined contribution plans for the years ended December 31, 2018, 2017, and 2016 was $46 million , $35 million , and $36 million , respectively. For 2018, the discretionary contribution was not made. The following table shows the number of shares, market value, and dividends received on shares of Huntington stock held by the defined contribution plan: December 31, (dollar amounts in millions, share amounts in thousands) 2018 2017 Shares in Huntington common stock 11,635 13,566 Market value of Huntington common stock $ 139 $ 198 Dividends received on shares of Huntington stock 6 4 |
INCOME TAXES
INCOME TAXES | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | INCOME TAXES The Company’s deferred federal and state income tax and related valuation accounts represents the estimated impact of temporary differences between how we recognize our assets and liabilities under GAAP and how such assets and liabilities are recognized under federal and state tax law. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted tax rates which will be in effect when these differences reverse. As a result of the reduction in the U.S. corporate income tax rate from 35% to 21% under the TCJA, the Company revalued its ending net deferred tax liabilities at December 31, 2017 . The Company recognized a $123 million tax benefit in the Company’s Consolidated Statement of Income for the year ended December 31, 2017 , as a result of the TCJA, of which the benefit recognized is primarily attributable to the revaluation of net deferred tax liabilities. The Company completed its provisional estimate related to tax reform during 2018 , recognizing an additional immaterial benefit during the 2018 third quarter . The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state, city, and foreign jurisdictions. Federal income tax audits have been completed for tax years through 2009. Certain proposed adjustments resulting from the IRS examination of our 2010 through 2011 tax returns have been settled, subject to final approval by the Joint Committee on Taxation of the U.S. Congress. While the statute of limitations remains open for tax years 2012 through 2017, the IRS has advised that tax years 2012 through 2014 will not be audited, and began the examination of the 2015 federal income tax return in second quarter 2018. Various state and other jurisdictions remain open to examination, including Ohio, Kentucky, Indiana, Michigan, Pennsylvania, West Virginia, Wisconsin, and Illinois. The following table provides a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits: (dollar amounts in millions) 2018 2017 Unrecognized tax benefits at beginning of year $ 50 $ 24 Gross increases for tax positions taken during prior years — 26 Gross decreases for tax positions taken during prior years (12 ) — Settlements with taxing authorities (38 ) — Unrecognized tax benefits at end of year $ — $ 50 Any interest and penalties on income tax assessments or income tax refunds are recognized in the Consolidated Statements of Income as a component of provision for income taxes. Total interest accrued was less than $1 million at December 31, 2018 and 2017 . All of the gross unrecognized tax benefits would impact the Company’s effective tax rate if recognized. The following is a summary of the provision (benefit) for income taxes: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Current tax provision (benefit) Federal $ 152 $ 41 $ 40 State 20 (1 ) 3 Total current tax provision 172 40 43 Deferred tax provision (benefit) Federal 71 151 161 State (8 ) 17 4 Total deferred tax provision 63 168 165 Provision for income taxes $ 235 $ 208 $ 208 The following is a reconciliation for provision for income taxes: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Provision for income taxes computed at the statutory rate $ 342 $ 488 $ 322 Increases (decreases): Tax-exempt income (23 ) (31 ) (27 ) Tax-exempt bank owned life insurance income (14 ) (23 ) (20 ) General business credits (80 ) (71 ) (64 ) Capital loss (60 ) (67 ) (46 ) Impact from TCJA (3 ) (123 ) — Affordable housing investment amortization, net of tax benefits 64 46 37 State income taxes, net 10 11 5 Stock based compensation (14 ) (13 ) (4 ) Other 13 (9 ) 5 Provision for income taxes $ 235 $ 208 $ 208 The significant components of deferred tax assets and liabilities at December 31, were as follows: At December 31, (dollar amounts in millions) 2018 2017 Deferred tax assets: Allowances for credit losses $ 184 $ 162 Fair value adjustments 173 142 Net operating and other loss carryforward 95 108 Accrued expense/prepaid 16 17 Pension and other employee benefits 14 — Market discount 6 10 Partnership investments 5 7 Tax credit carryforward — 153 Other assets 6 6 Total deferred tax assets 499 605 Deferred tax liabilities: Lease financing 262 249 Loan origination costs 148 116 Operating assets 69 53 Mortgage servicing rights 45 39 Purchase accounting adjustments 25 68 Securities adjustments 6 6 Deferred dividend income — 77 Pension and other employee benefits — 5 Other liabilities 2 18 Total deferred tax liabilities 557 631 Net deferred tax (liability) asset before valuation allowance (58 ) (26 ) Valuation allowance (6 ) (6 ) Net deferred tax (liability) asset $ (64 ) $ (32 ) At December 31, 2018 , Huntington’s net deferred tax asset related to loss and other carryforwards was $95 million . This was comprised of federal net operating loss carryforwards of $51 million , which will begin expiring in 2030 , $44 million of state net operating loss carryforwards, which will begin expiring in 2019 , and an alternative minimum tax credit carryforward of less than $1 million , which will be fully utilized or refunded by 2022 . The state valuation allowance was $6 million at both December 31, 2018 and December 31, 2017 , as the Company believes that it is more likely than not, portions of the state deferred tax assets and state net operating loss carryforwards will not be realized. At December 31, 2018 , retained earnings included approximately $12 million of base year reserves of acquired thrift institutions, for which no deferred federal income tax liability has been recognized. Under current law, if these bad debt reserves are used for purposes other than to absorb bad debt losses, they will be subject to federal income tax at the corporate tax rate enacted at the time. The amount of unrecognized deferred tax liability relating to the cumulative bad debt deduction was approximately $3 million at December 31, 2018 . |
FAIR VALUES OF ASSETS AND LIABI
FAIR VALUES OF ASSETS AND LIABILITIES | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUES OF ASSETS AND LIABILITIES | FAIR VALUES OF ASSETS AND LIABILITIES Following is a description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy. Loans held for sale Huntington has elected to apply the fair value option for mortgage loans originated with the intent to sell which are included in loans held for sale. Mortgage loans held for sale are classified as Level 2 and are estimated using security prices for similar product types. Loans held for investment Certain mortgage loans originated with the intent to sell for which the FVO was elected have been reclassified to mortgage loans held for investment. These loans continue to be measured at fair value. The fair value is determined using fair value of similar mortgage-backed securities adjusted for loan specific variables. Huntington elected the fair value option for consumer loans with deteriorated credit quality acquired from FirstMerit. These consumer loans are classified as Level 3. The key assumption used to determine the fair value of the consumer loans is discounted cash flows. Available-for-sale securities and trading account securities Securities accounted for at fair value include both the available-for-sale and trading portfolios. Huntington determines the fair value of securities utilizing quoted market prices obtained for identical or similar assets, third-party pricing services, third-party valuation specialists and other observable inputs such as recent trade observations. AFS and trading securities are classified as Level 1 using quoted market prices (unadjusted) in active markets for identical securities that Huntington has the ability to access at the measurement date. Less than 1% of the positions in these portfolios are Level 1, and consist of U.S. Treasury securities and money market mutual funds. When quoted market prices are not available, fair values are classified as Level 2 using quoted prices for similar assets in active markets, quoted prices of identical or similar assets in markets that are not active, and inputs that are observable for the asset, either directly or indirectly, for substantially the full term of the financial instrument. Level 2 represents 77% of the positions in these portfolios, which consists of U.S. Government and agency debt securities, agency mortgage backed securities, private-label asset-backed securities, certain municipal securities and other securities. For Level 2 securities Huntington primarily uses prices obtained from third-party pricing services to determine the fair value of securities. Huntington independently evaluates and corroborates the fair value received from pricing services through various methods and techniques, including references to dealer or other market quotes, by reviewing valuations of comparable instruments, and by comparing the prices realized on the sale of similar securities. If relevant market prices are limited or unavailable, valuations may require significant management judgment or estimation to determine fair value, in which case the fair values are classified as Level 3 which represent 23% of the positions. The Level 3 positions consist of direct purchase municipal securities. A significant change in the unobservable inputs for these securities may result in a significant change in the ending fair value measurement of these securities. The direct purchase municipal securities are classified as Level 3 and require significant estimates to determine fair value which results in greater subjectivity. The fair value is determined by utilizing a discounted cash flow valuation technique employed by a third-party valuation specialist. The third-party specialist uses assumptions related to yield, prepayment speed, conditional default rates and loss severity based on certain factors such as, credit worthiness of the counterparty, prevailing market rates, and analysis of similar securities. Huntington evaluates the fair values provided by the third-party specialist for reasonableness. MSRs MSRs do not trade in an active, open market with readily observable prices. Accordingly, the fair value of these assets is classified as Level 3. Huntington determines the fair value of MSRs using a discounted cash flow model based upon the month-end interest rate curve and prepayment assumptions. The model utilizes assumptions to estimate future net servicing income cash flows, including estimates of time decay, payoffs, and changes in valuation inputs and assumptions. Servicing brokers and other sources of information (e.g. discussion with other mortgage servicers and industry surveys) are used to obtain information on market practice and assumptions. On at least a quarterly basis, third-party marks are obtained from at least one servicing broker. Huntington reviews the valuation assumptions against this market data for reasonableness and adjusts the assumptions if deemed appropriate. Any recommended change in assumptions and/or inputs are presented for review to the Mortgage Price Risk Subcommittee for final approval. Derivative assets and liabilities Derivatives classified as Level 2 consist of foreign exchange and commodity contracts, which are valued using exchange traded swaps and futures market data. In addition, Level 2 includes interest rate contracts, which are valued using a discounted cash flow method that incorporates current market interest rates. Level 2 also includes exchange traded options and forward commitments to deliver mortgage-backed securities, which are valued using quoted prices. Derivatives classified as Level 3 consist of interest rate lock agreements related to mortgage loan commitments and Visa ® shares swap. The determination of fair value includes assumptions related to the likelihood that a commitment will ultimately result in a closed loan, which is a significant unobservable assumption. A significant increase or decrease in the external market price would result in a significantly higher or lower fair value measurement. Assets and Liabilities measured at fair value on a recurring basis Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and 2017 are summarized below: 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 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2017 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Other securities 83 3 — — 86 83 3 — — 86 Available-for-sale securities: U.S. Treasury securities 5 — — — 5 Residential CMOs — 6,484 — — 6,484 Residential MBS 1,367 1,367 Commercial MBS 2,487 2,487 Other agencies — 70 — — 70 Municipal securities — 711 3,167 — 3,878 Asset-backed securities — 443 24 — 467 Corporate debt — 109 — — 109 Other securities/Sovereign debt — 2 — — 2 5 11,673 3,191 — 14,869 Other securities 19 — — — 19 Loans held for sale — 413 — — 413 Loans held for investment — 55 38 — 93 MSRs — — 11 — 11 Derivative assets — 316 6 (190 ) 132 Liabilities Derivative liabilities — 326 5 (245 ) 86 (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 years ended December 31, 2018 , 2017 , and 2016 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 $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Transfers out of Level 3 (1) — (35 ) — — — Total gains/losses for the period: Included in earnings (1 ) 35 (3 ) (2 ) — Included in OCI — — (52 ) 11 — Purchases/originations — — 658 — — Sales — — — (33 ) — Repayments — — — — (8 ) Settlements — 3 (605 ) — — Closing balance $ 10 $ 2 $ 3,165 $ — $ 30 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 ) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ — $ — $ (52 ) $ — $ — 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 $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Transfers out of Level 3 (1) — (15 ) — — — Total gains/losses for the period: Included in earnings (3 ) 16 (2 ) (5 ) 1 Included in OCI — — (8 ) 14 — Purchases/originations — — 787 — — Sales — — — (60 ) — Repayments — — — — (11 ) Settlements — — (408 ) (1 ) — Closing balance $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (3 ) $ — $ — $ (4 ) $ — 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 $ 18 $ 6 $ 2,095 $ 100 $ 2 Transfers out of Level 3 (1) — (7 ) — — — Total gains/losses for the period: Included in earnings (4 ) (1 ) 7 (2 ) (2 ) Included in OCI — — (28 ) 6 — Purchases/originations — — 1,399 — 56 Sales — — (37 ) (25 ) — Repayments — — — — (8 ) Settlements — — (638 ) (3 ) — Closing balance $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (4 ) $ (1 ) $ (33 ) $ 4 $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2. The tables below summarize the classification of gains and losses due to changes in fair value, recorded in earnings for Level 3 assets and liabilities for the years ended December 31, 2018 , 2017 , and 2016 : 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 $ (1 ) $ 35 $ — $ — Securities gains (losses) — — — (2 ) Interest and fee income — — (3 ) — Total $ (1 ) $ 35 $ (3 ) $ (2 ) 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 Classification of gains and losses in earnings: Mortgage banking income $ (3 ) $ 16 $ — $ — $ — Securities gains (losses) — — — (5 ) — Interest and fee income — — (2 ) — — Noninterest income — — — — 1 Total $ (3 ) $ 16 $ (2 ) $ (5 ) $ 1 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 Classification of gains and losses in earnings: Mortgage banking income (loss) $ (4 ) $ (1 ) $ — $ — $ — Securities gains (losses) — — 1 (2 ) — Noninterest income — — 6 — (2 ) Total $ (4 ) $ (1 ) $ 7 $ (2 ) $ (2 ) Assets and liabilities under the fair value option The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: December 31, 2018 Total Loans Loans that are 90 or more days past due (dollar amounts in millions) Fair value Aggregate Difference Fair value Aggregate Difference Assets Loans held for sale $ 613 $ 594 $ 19 $ — $ — $ — Loans held for investment 79 87 (8 ) 6 7 (1 ) December 31, 2017 Total Loans Loans that are 90 or more days past due (dollar amounts in millions) Fair value Aggregate Difference Fair value Aggregate Difference Assets Loans held for sale $ 413 $ 400 $ 13 $ 1 $ 1 $ — Loans held for investment 93 102 $ (9 ) 10 11 $ (1 ) The following tables present the net gains (losses) from fair value changes for the years ended December 31, 2018 , 2017 , and 2016 : Net gains (losses) from fair value changes Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Assets Loans held for sale $ 5 $ 8 $ 7 Loans held for investment — — — 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 December 31, 2018 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 Impaired loans 33 — — 33 (1 ) Other real estate owned 20 — — 20 (7 ) Loans held for sale 145 — — 145 (11 ) 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. Other real estate owned properties are included in other assets and valued based on appraisals and third-party price opinions. The appraisals supporting the fair value of the collateral to recognize loan impairment or unrealized loss on other real estate owned properties may not have been obtained as of December 31, 2018 . 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 December 31, 2018 and 2017 : 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 — % - 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 Other real estate owned 20 Appraisal value NA NA Loans held for sale 121 Discounted cash flow Discount rate 5 % 6 % 5 % 24 Appraisal value NA N/A Quantitative Information about Level 3 Fair Value Measurements at December 31, 2017 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 11 Discounted cash flow Constant prepayment rate 8 % - 33 % 12 % Spread over forward interest rate swap rates 8 % - 10 % 8 % Derivative assets 6 Consensus Pricing Net market price (5 )% - 20 % 2 % Estimated Pull through % 3 % - 100 % 75 % Derivative liabilities 5 Discounted cash flow Estimated conversion factor 165 % Estimated growth rate of Visa Class A shares 7 % Discount rate 3 % Timing of the resolution of the litigation 12/31/2017 - 06/30/2020 Municipal securities 3,167 Discounted cash flow Discount rate — % - 10 % 4 % Cumulative default — % - 64 % 3 % Loss given default 5 % - 90 % 24 % Asset-backed securities 24 Discounted cash flow Discount rate 7 % 7 % 7 % Cumulative prepayment rate — % 72 % 7 % Cumulative default 3 % 53 % 7 % Loss given default 90 % 100 % 98 % Cure given deferral 50 % 50 % 50 % Loans held for investment 38 Discounted cash flow Discount rate 7 % - 18 % 8 % Constant prepayment rate 2 % - 22 % 9 % 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. Such relationships have not been included in the discussion below. 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 December 31, 2018 and December 31, 2017 : 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 December 31, 2017 (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 1,567 — — $ 1,567 $ 1,567 Trading account securities — — 86 86 86 Available-for-sale securities — — 14,869 14,869 14,869 Held-to-maturity securities 9,091 — — 9,091 8,971 Other securities 581 — 19 600 600 Loans held for sale — 75 413 488 491 Net loans and leases (1) 69,333 — 93 69,426 69,146 Derivatives — — 132 132 132 Financial Liabilities Deposits 77,041 — — 77,041 77,010 Short-term borrowings 5,056 — — 5,056 5,056 Long-term debt 9,206 — — 9,206 9,402 Derivatives — — 86 86 86 (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 December 31, 2018 and December 31, 2017 : 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 Estimated Fair Value Measurements at Reporting Date Using December 31, 2017 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 83 $ 3 $ — $ 86 Available-for-sale securities 5 11,673 3,191 14,869 Held-to-maturity securities — 8,971 — 8,971 Other securities (1) 19 — — 19 Loans held for sale — 413 78 491 Net loans and direct financing leases — — 69,146 69,146 Financial Liabilities Deposits — 73,975 3,035 77,010 Short-term borrowings — — 5,056 5,056 Long-term debt — 8,944 458 9,402 (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 | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in other assets or other liabilities, respectively) and measured at fair value. Derivative financial instruments can be designated as accounting hedges under GAAP. Designating a derivative as an accounting hedge allows Huntington to recognize gains and losses, less any ineffectiveness, in the income statement within the same period that the hedged item affects earnings. Gains and losses on derivatives that are not designated to 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 Consolidated Balance Sheets at December 31, 2018 and December 31, 2017 . Amounts in the table below are presented gross without the impact of any net collateral arrangements. December 31, 2018 December 31, 2017 (dollar amounts in millions) Asset Liability Asset Liability Derivatives designated as Hedging Instruments Interest rate contracts $ 44 $ 42 $ 22 $ 121 Derivatives not designated as Hedging Instruments Interest rate contracts 261 165 187 100 Foreign exchange contracts 23 19 18 18 Commodities contracts 172 168 92 87 Equity contracts — 10 3 5 Total Contracts $ 500 $ 404 $ 322 $ 331 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 Condensed Consolidated Income Statement for the year ended December 31, 2018 . Location of Gain or (Loss) Recognized in Income on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative (dollar amounts in millions) Year Ended December 31, Interest rate contracts: Customer Capital markets fees $ 41 Mortgage Banking Mortgage banking income (19 ) Foreign exchange contracts Capital markets fees 27 Commodities contracts Capital markets fees 6 Equity contracts Other noninterest expense 4 Total $ 59 Derivatives used in Asset and Liability Management Activities Huntington engages in balance sheet hedging activity, principally for asset liability management purposes, to convert fixed rate assets or liabilities into floating rate or vice versa. Balance sheet hedging activity is arranged to receive hedge accounting treatment and is classified as either fair value or cash flow hedges. Fair value hedges are executed to convert fixed-rate liabilities to floating rate. Cash flow hedges are also used to convert floating rate assets into fixed rate assets. The following table presents the gross notional values of derivatives used in Huntington’s asset and liability management activities at December 31, 2018 and December 31, 2017 , identified by the underlying interest rate-sensitive instruments: 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 December 31, 2017 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Long-term debt 8,375 — 8,375 Total notional value at December 31, 2017 $ 8,375 $ — $ 8,375 The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at December 31, 2018 and December 31, 2017 : December 31, 2018 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value 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 % December 31, 2017 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value Fair Value Receive Pay Liability conversion swaps Receive fixed—generic 8,375 2.5 (99 ) 1.56 % 1.44 % Total swap portfolio at December 31, 2017 $ 8,375 2.5 $ (99 ) These derivative financial instruments were entered into for the purpose of managing the interest rate risk of assets and liabilities. Consequently, 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 $(36) million , $23 million , and $72 million for the years ended December 31, 2018 , 2017 , and 2016 , respectively. During the second quarter of 2018, Huntington terminated $2.9 billion (notional value) of liability conversion swaps subsequent to de-designating these swaps as fair value hedges. The adjusted basis of the hedged item at termination was recorded as a loss of $149 million , which is being amortized over the remaining life of the long-term debt using the effective yield method. Cash payments to counterparties resulting from termination of interest rate swaps are classified as operating activities in our Consolidated Statement of Cash Flows. 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: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Interest rate contracts Change in fair value of interest rate swaps hedging long-term debt (1) 112 (53 ) (122 ) Change in fair value of hedged long term debt (1) (104 ) 54 112 (1) Recognized in Interest expense— long-term debt in the Consolidated Statements of Income. As of 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) December 31, 2018 December 31, 2018 Long-term debt $ 4,845 $ (12 ) The cumulative amount of fair value hedging adjustments remaining for any hedged assets and liabilities for which hedge accounting has been discontinued is $(127) million at December 31, 2018 . Derivatives used in mortgage banking activities Huntington’s mortgage origination hedging activity is related to the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties. The value of a newly originated mortgage is not firm until the interest rate is committed or locked. Forward commitments to sell economically hedge the possible loss on interest rate lock commitments due to interest rate change. The net asset (liability) position of these derivatives at December 31, 2018 and December 31, 2017 are $(4) million and $7 million , respectively. At December 31, 2018 and 2017 , Huntington had commitments to sell securities collateralized by mortgage loans of $0.8 billion and $0.7 billion , respectively. These contracts mature in less than one year. Derivatives used in municipal bond underwriting Interest rate futures contracts are used to offset interest rate exposure of the broker-dealer underwriting inventory. These derivative financial instruments are recorded on the consolidated balance sheets as trading account securities and the related net gain associated is recorded in capital market fees on the Consolidated Statement of Income. These derivatives are not designated as hedging instruments. The total notional of these derivative financial instruments at December 31, 2018 was $11 million and had a fair value of less than $1 million . 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 all transactions. The net fair values of these derivative financial instruments, for which the gross amounts are included in other assets or other liabilities at December 31, 2018 and December 31, 2017 , were $92 million and $88 million , respectively. The total notional values of derivative financial instruments used by Huntington on behalf of customers, including offsetting derivatives, were $26 billion and $22 billion at December 31, 2018 and December 31, 2017 , respectively. Huntington’s credit risk from customer derivatives was $132 million and $119 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. In connection with the FirstMerit acquisition, Huntington acquired an additional Visa ® related swap agreement. At December 31, 2018 , the combined 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 Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 17 . 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 December 31, 2018 and December 31, 2017 , aggregate credit risk associated with derivatives, net of collateral that has been pledged by the counterparty, was $37 million and $30 million , respectively. The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks. At December 31, 2018 , Huntington pledged $45 million of investment securities and cash collateral to counterparties, while other counterparties pledged $144 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements. In the event of credit downgrades, Huntington would not be required to provide additional collateral. The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and December 31, 2017 : Offsetting of Derivative Assets Gross amounts offset in the consolidated balance sheets Net amounts of assets presented in the consolidated balance sheets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized assets Financial instruments Cash collateral received Net amount December 31, 2018 Derivatives $ 500 $ (291 ) $ 209 $ (4 ) $ (53 ) $ 152 December 31, 2017 Derivatives 322 (190 ) 132 (11 ) (18 ) 103 Offsetting of Derivative Liabilities Gross amounts offset in the consolidated balance sheets Net amounts of liabilities presented in the consolidated balance sheets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized liabilities Financial instruments Cash collateral delivered Net amount December 31, 2018 Derivatives $ 404 $ (217 ) $ 187 $ — $ (12 ) $ 175 December 31, 2017 Derivatives 331 (245 ) 86 — (21 ) 65 |
VIEs
VIEs | 12 Months Ended |
Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
VIEs | Unconsolidated VIEs The following tables provide a summary of the assets and liabilities included in Huntington’s Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest, but is not the primary beneficiary, to the VIE at December 31, 2018 , and 2017 : 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 December 31, 2017 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities 14 252 — Affordable Housing Tax Credit Partnerships 636 335 636 Other Investments 125 53 125 Total $ 775 $ 640 $ 761 Trust-Preferred Securities Huntington has certain wholly-owned trusts whose assets, liabilities, equity, income, and expenses are not included within Huntington’s Consolidated Financial Statements. These trusts have been formed for the sole purpose of issuing trust-preferred securities, from which the proceeds are then invested in Huntington junior subordinated debentures, which are reflected in Huntington’s Consolidated Balance Sheet as long-term debt. The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements. A list of trust-preferred securities outstanding at December 31, 2018 follows: (dollar amounts in millions) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 3.50 % (2) $ 70 $ 6 Huntington Capital II 3.42 (3) 32 3 Sky Financial Capital Trust III 4.20 (4) 72 2 Sky Financial Capital Trust IV 4.20 (4) 74 2 Camco Financial Trust 4.13 (5) 4 1 Total $ 252 $ 14 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70 %. (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625 %. (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40 %. (5) Variable effective rate at December 31, 2018 , 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 Consolidated Statements of Income. The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments at December 31, 2018 and 2017 . (dollar amounts in millions) December 31, December 31, Affordable housing tax credit investments $ 1,147 $ 996 Less: amortization (439 ) (360 ) Net affordable housing tax credit investments $ 708 $ 636 Unfunded commitments $ 357 $ 335 The following table presents other information relating to Huntington’s affordable housing tax credit investments for the years ended December 31, 2018 , 2017 , and 2016 : Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Tax credits and other tax benefits recognized $ 92 $ 91 $ 80 Proportional amortization method Tax credit amortization expense included in provision for income taxes 79 70 53 Equity method Tax credit investment losses included in noninterest income — — 1 There were no material sales of affordable housing tax credit investments in 2018 , 2017 or 2016 . Huntington recognized immaterial impairment losses for the years ended December 31, 2018 , 2017 and 2016 . The impairment losses recognized related to the fair value of the tax credit investments that were less than carrying value. Other Investments Other investments determined to be VIE’s include investments in Small Business Investment Companies, Historic Tax Credit Investments, certain equity method investments, automobile securitizations and other miscellaneous investments. |
COMMITMENTS AND CONTINGENT LIAB
COMMITMENTS AND CONTINGENT LIABILITIES | 12 Months Ended |
Dec. 31, 2018 | |
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 Consolidated Financial Statements. The contract amounts of these financial agreements at December 31, 2018 , and December 31, 2017 were as follows: At December 31, (dollar amounts in millions) 2018 2017 Contract amount representing credit risk Commitments to extend credit: Commercial $ 17,149 $ 16,219 Consumer 14,974 13,384 Commercial real estate 1,188 1,366 Standby letters of credit 676 510 Commercial letters-of-credit 14 21 Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality. These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors. Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements. The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature. Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third-party. These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions. Most of these arrangements mature within two years. The carrying amount of deferred revenue associated with these guarantees was $13 million and $10 million at December 31, 2018 and December 31, 2017 , respectively. Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days. The goods or cargo being traded normally secure these instruments. Litigation and Regulatory Matters In the ordinary course of business, Huntington is routinely a defendant in or party to pending and threatened legal and regulatory actions and proceedings. In view of the inherent difficulty of predicting the outcome of such matters, particularly where the claimants seek very large or indeterminate damages or where the matters present novel legal theories or involve a large number of parties, Huntington generally cannot predict what the eventual outcome of the pending matters will be, 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 $30 million at December 31, 2018 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. Commitments under Operating Lease Obligations At December 31, 2018 , Huntington and its subsidiaries were obligated under noncancelable leases for land, buildings, and equipment. Many of these leases contain renewal options and certain leases provide options to purchase the leased property during or at the expiration of the lease period at specified prices. 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. The future minimum rental payments required under operating leases that have initial or remaining noncancelable lease terms in excess of one year as of December 31, 2018 , were as follows: $59 million in 2019 , $55 million in 2020 , $40 million in 2021 , $35 million in 2022 , $27 million in 2023 , and $95 million thereafter. At December 31, 2018 , total minimum lease payments have not been reduced by minimum sublease rentals of $4 million due in the future under noncancelable subleases. At December 31, 2018 , the future minimum sublease rental payments that Huntington expects to receive were as follows: $2 million in 2019 , $2 million in 2020 , and less than $1 million thereafter. The rental expense for all operating leases was $70 million , $76 million , and $65 million for 2018 , 2017 , and 2016 , respectively. Huntington had no material obligations under capital leases. |
OTHER REGULATORY MATTERS
OTHER REGULATORY MATTERS | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
OTHER REGULATORY MATTERS | OTHER REGULATORY MATTERS Huntington and the Bank are subject to certain risk-based capital and leverage ratio requirements under the U.S. Basel III capital rules adopted by the Federal Reserve, for Huntington, and by the OCC, for the Bank. These rules implement the Basel III international regulatory capital standards in the United States, as well as certain provisions of the Dodd-Frank Act. These quantitative calculations are minimums, and the Federal Reserve and OCC may determine that a banking organization, based on its size, complexity or risk profile, must maintain a higher level of capital in order to operate in a safe and sound manner. Under the U.S. Basel III capital rules, Huntington’s and the Bank’s assets, exposures and certain off-balance sheet items are subject to risk weights used to determine the institutions’ risk-weighted assets. These risk-weighted assets are used to calculate the following minimum capital ratios for Huntington and the Bank: CET1 Risk-Based Capital Ratio , equal to the ratio of CET1 capital to risk-weighted assets. CET1 capital primarily includes common shareholders’ equity subject to certain regulatory adjustments and deductions, including with respect to goodwill, intangible assets, certain deferred tax assets, and AOCI. Certain of these adjustments and deductions were subject to phase-in periods that began on January 1, 2015, and was scheduled to end on January 1, 2018. Together with the FDIC, the Federal Reserve and OCC have issued proposed rules that would simplify the capital treatment of certain capital deductions and adjustments, and the final phase-in period for these capital deductions and adjustments has been indefinitely delayed. In addition, in December 2018, the U.S. federal banking agencies finalized rules that would permit BHCs and banks to phase-in, for regulatory capital purposes, the day-one impact of the new current expected credit loss accounting rule on retained earnings over a period of three years. For further discussion of the new current expected credit loss accounting rule, see Note 2 of the Notes to Consolidated Financial Statements. Tier 1 Risk-Based Capital Ratio , equal to the ratio of Tier 1 capital to risk-weighted assets. Tier 1 capital is primarily comprised of CET1 capital, perpetual preferred stock and certain qualifying capital instruments. Total Risk-Based Capital Ratio , equal to the ratio of total capital, including CET1 capital, Tier 1 capital and Tier 2 capital, to risk-weighted assets. Tier 2 capital primarily includes qualifying subordinated debt and qualifying ALLL. Tier 2 capital also includes, among other things, certain trust preferred securities. Tier 1 Leverage Ratio , equal to the ratio of Tier 1 capital to quarterly average assets (net of goodwill, certain other intangible assets and certain other deductions). The total minimum regulatory capital ratios and well-capitalized minimum ratios are reflected on the following page. The Federal Reserve has not yet revised the well-capitalized standard for BHCs to reflect the higher capital requirements imposed under the U.S. Basel III capital rules. For purposes of the Federal Reserve’s Regulation Y, including determining whether a BHC meets the requirements to be an FHC, BHCs, such as Huntington, must maintain a Tier 1 Risk-Based Capital Ratio of 6.0% or greater and a Total Risk-Based Capital Ratio of 10.0% or greater. If the Federal Reserve were to apply the same or a very similar well-capitalized standard to BHCs as that applicable to the Bank, Huntington’s capital ratios as of December 31, 2018 would exceed such revised well-capitalized standard. The Federal Reserve may require BHCs, including Huntington, to maintain capital ratios substantially in excess of mandated minimum levels, depending upon general economic conditions and a BHC’s particular condition, risk profile and growth plans. Failure to be well-capitalized or to meet minimum capital requirements could result in certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have an adverse material effect on our operations or financial condition. Failure to be well-capitalized or to meet minimum capital requirements could also result in restrictions on Huntington’s or the Bank’s ability to pay dividends or otherwise distribute capital or to receive regulatory approval of applications. In addition to meeting the minimum capital requirements, under the U.S. Basel III capital rules Huntington and the Bank must also maintain the required Capital Conservation Buffer to avoid becoming subject to restrictions on capital distributions and certain discretionary bonus payments to management. The Capital Conservation Buffer is calculated as a ratio of CET1 capital to risk-weighted assets, and it effectively increases the required minimum risk-based capital ratios. The Capital Conservation Buffer requirement was phased in over a three-year period that began on January 1, 2016. The phase-in period ended on January 1, 2019, and the Capital Conservation Buffer is now at its fully phased-in level of 2.5%. Throughout 2018, the required Capital Conservation Buffer was 1.875%. The Tier 1 Leverage Ratio is not impacted by the Capital Conservation Buffer, and a banking institution may be considered well-capitalized while remaining out of compliance with the Capital Conservation Buffer. In April 2018, the Federal Reserve issued a proposal that would, among other things, replace the Capital Conservation Buffer with stress buffer requirements for certain large BHCs, including Huntington. Please refer to the Proposed Stress Buffer Requirements section in the Item 1: Business for further details. As of December 31, 2018 , Huntington’s and the Bank’s regulatory capital ratios were above the well-capitalized standards and met the then-applicable Capital Conservation Buffer. Please refer to the table below for a summary of Huntington’s and the Bank’s regulatory capital ratios as of December 31, 2018, calculated using the regulatory capital methodology applicable during 2018. Minimum Minimum Basel III Regulatory Ratio+Capital Well- December 31, Capital Conservation Capitalized 2018 2017 (dollar amounts in millions) Ratios Buffer Minimums Ratio Amount Ratio Amount CET 1 risk-based capital Consolidated 4.50 6.375 % N/A 9.65 8,271 10.01 8,041 Bank 4.50 6.375 6.50 10.19 8,732 11.02 8,856 Tier 1 risk-based capital Consolidated 6.00 7.875 6.00 11.06 9,478 11.34 9,110 Bank 6.00 7.875 8.00 11.21 9,611 12.10 9,727 Total risk-based capital Consolidated 8.00 9.875 10.00 12.98 11,122 13.39 10,757 Bank 8.00 9.875 10.00 13.42 11,504 14.33 11,517 Tier 1 leverage Consolidated 4.00 % N/A N/A 9.10 % $ 9,478 9.09 % $ 9,110 Bank 4.00 N/A 5.00 % 9.23 9,611 9.70 9,727 Huntington and its subsidiaries are also subject to various regulatory requirements that impose restrictions on cash, debt, and dividends. The Bank is required to maintain cash reserves based on the level of certain of its deposits. This reserve requirement may be met by holding cash in banking offices or on deposit at the FRB. During 2018 and 2017 , the average balances of these deposits were $0.4 billion and $0.4 billion , respectively. Under current Federal Reserve regulations, the Bank is limited as to the amount and type of loans it may make to the parent company and nonbank subsidiaries. At December 31, 2018 , the Bank could lend $1.2 billion to a single affiliate, subject to the qualifying collateral requirements defined in the regulations. Dividends from the Bank are one of the major sources of funds for the Company. These funds aid the Company in the payment of dividends to shareholders, expenses, and other obligations. Payment of dividends and/or return of capital to the parent company is subject to various legal and regulatory limitations. During 2018 , the Bank paid dividends of $1.7 billion to the holding company. Also, there are statutory and regulatory limitations on the ability of national banks to pay dividends or make other capital distributions. |
PARENT COMPANY FINANCIAL STATEM
PARENT COMPANY FINANCIAL STATEMENTS | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
PARENT COMPANY FINANCIAL STATEMENTS | PARENT-ONLY FINANCIAL STATEMENTS The parent-only financial statements, which include transactions with subsidiaries, are as follows: Balance Sheets December 31, (dollar amounts in millions) 2018 2017 Assets Cash and due from banks $ 2,352 $ 1,618 Due from The Huntington National Bank 739 798 Due from non-bank subsidiaries 40 58 Investment in The Huntington National Bank 11,493 11,696 Investment in non-bank subsidiaries 142 111 Accrued interest receivable and other assets 239 252 Total assets $ 15,005 $ 14,533 Liabilities and shareholders’ equity Long-term borrowings $ 3,216 $ 3,128 Dividends payable, accrued expenses, and other liabilities 687 591 Total liabilities 3,903 3,719 Shareholders’ equity (1) 11,102 10,814 Total liabilities and shareholders’ equity $ 15,005 $ 14,533 (1) See Consolidated Statements of Changes in Shareholders’ Equity. Statements of Income Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Income Dividends from: The Huntington National Bank $ 1,722 $ 298 $ 188 Non-bank subsidiaries — 14 11 Interest from: The Huntington National Bank 27 20 14 Non-bank subsidiaries 2 2 3 Other (2 ) 4 — Total income 1,749 338 216 Expense Personnel costs 2 19 12 Interest on borrowings 124 91 59 Other 118 115 123 Total expense 244 225 194 Income before income taxes and equity in undistributed net income of subsidiaries 1,505 113 22 Provision (benefit) for income taxes (48 ) (56 ) (56 ) Income before equity in undistributed net income of subsidiaries 1,553 169 78 Increase (decrease) in undistributed net income (loss) of: The Huntington National Bank (186 ) 1,015 629 Non-bank subsidiaries 26 2 5 Net income $ 1,393 $ 1,186 $ 712 Other comprehensive income (loss) (1) (80 ) (34 ) (175 ) Comprehensive income $ 1,313 $ 1,152 $ 537 (1) See Consolidated Statements of Comprehensive Income for other comprehensive income (loss) detail. Statements of Cash Flows Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Operating activities Net income $ 1,393 $ 1,186 $ 712 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries 197 (997 ) (634 ) Depreciation and amortization (2 ) 4 (1 ) Other, net 121 (37 ) (24 ) Net cash (used for) provided by operating activities 1,709 156 53 Investing activities Repayments from subsidiaries 21 442 464 Advances to subsidiaries (13 ) (29 ) (1,758 ) Proceeds from sale of securities available-for-sale — 1 (2 ) Cash paid for acquisitions, net of cash received (15 ) — (133 ) Net cash (used for) provided by investing activities (7 ) 414 (1,429 ) Financing activities Net proceeds from issuance of medium-term notes 501 — — Net proceeds from issuance of long-term borrowings — — 1,990 Payment of medium-term notes (400 ) — — Payment of long-term debt — — (65 ) Dividends paid on common stock (584 ) (425 ) (299 ) Repurchases of common stock (939 ) (260 ) — Net proceeds from issuance of preferred stock 495 — 585 Other, net (41 ) (20 ) 1 Net cash provided by (used for) financing activities (968 ) (705 ) 2,212 Increase (decrease) in cash and cash equivalents 734 (135 ) 836 Cash and cash equivalents at beginning of year 1,618 1,753 917 Cash and cash equivalents at end of year $ 2,352 $ 1,618 $ 1,753 Supplemental disclosure: Interest paid $ 126 $ 90 $ 36 |
SEGMENT REPORTING
SEGMENT REPORTING | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
SEGMENT REPORTING | SEGMENT REPORTING Huntington’s business segments are based on the 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 accounting 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, and a small amount of other residual unallocated expenses, are allocated to the four business segments. The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to GAAP. As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions. Furthermore, changes in management structure or allocation methodologies and procedures result in changes in reported segment financial data. Accordingly, certain amounts have been reclassified to conform to the current period presentation. Huntington uses an active and centralized FTP methodology to attribute appropriate net interest income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing matched duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury / Other function where it can be centrally monitored and managed. The Treasury / Other function charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The FTP rate is based on prevailing market interest rates for comparable duration assets (or liabilities). Consumer and Business Banking - The Consumer and Business Banking segment, including Home Lending, provides a wide array of financial products and services to consumer and small business customers including but not limited to checking accounts, savings accounts, money market accounts, certificates of deposit, mortgage loans, consumer loans, credit cards, and small business loans and investment products. Other financial services available to 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, 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 below is certain financial information reconciled to Huntington’s December 31, 2018 , December 31, 2017 , and December 31, 2016 , reported results by business segment: Income Statements (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated 2018 Net interest income $ 1,685 $ 938 $ 403 $ 192 $ (29 ) $ 3,189 Provision (benefit) for credit losses 141 38 55 1 — 235 Noninterest income 738 313 10 193 67 1,321 Noninterest expense 1,696 513 149 250 39 2,647 Provision (benefit) for income taxes 123 147 44 28 (107 ) 235 Net income (loss) $ 463 $ 553 $ 165 $ 106 $ 106 $ 1,393 2017 Net interest income $ 1,549 $ 901 $ 424 $ 172 $ (44 ) $ 3,002 Provision (benefit) for credit losses 108 30 63 — — 201 Noninterest income 735 278 14 188 92 1,307 Noninterest expense 1,647 474 149 243 201 2,714 Provision (benefit) for income taxes 185 236 79 41 (333 ) 208 Net income (loss) $ 344 $ 439 $ 147 $ 76 $ 180 $ 1,186 2016 Net interest income $ 1,224 $ 717 $ 344 $ 153 $ (69 ) $ 2,369 Provision (benefit) for credit losses 68 79 47 (3 ) — 191 Noninterest income 649 245 15 177 64 1,150 Noninterest expense 1,339 397 118 229 325 2,408 Provision (benefit) for income taxes 163 170 68 36 (229 ) 208 Net income (loss) $ 303 $ 316 $ 126 $ 68 $ (101 ) $ 712 Assets at December 31, Deposits at December 31, (dollar amounts in millions) 2018 2017 2018 2017 Consumer & Business Banking $ 27,486 $ 26,262 $ 50,300 $ 45,427 Commercial Banking 34,818 32,067 23,185 21,286 Vehicle Finance 19,435 17,865 346 381 RBHPCG 6,540 5,829 6,809 6,202 Treasury / Other 20,502 22,162 4,134 3,745 Total $ 108,781 $ 104,185 $ 84,774 $ 77,041 |
QUARTERLY RESULTS OF OPERATIONS
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) | Quarterly Results of Operations (unaudited) The following is a summary of the quarterly results of operations, for the years ended December 31, 2018 and 2017 : Three Months Ended December 31, September 30, June 30, March 31, (dollar amounts in millions, except per share data) 2018 2018 2018 2018 Interest income $ 1,056 $ 1,007 $ 972 $ 914 Interest expense 223 205 188 144 Net interest income 833 802 784 770 Provision for credit losses 60 53 56 66 Noninterest income 329 342 336 314 Noninterest expense 711 651 652 633 Income before income taxes 391 440 412 385 Provision for income taxes 57 62 57 59 Net income 334 378 355 326 Dividends on preferred shares 19 18 21 12 Net income applicable to common shares $ 315 $ 360 $ 334 $ 314 Net income per common share — Basic $ 0.30 $ 0.33 $ 0.30 $ 0.29 Net income per common share — Diluted 0.29 0.33 0.30 0.28 Three Months Ended December 31, September 30, June 30, March 31, (dollar amounts in millions, except per share data) 2017 2017 2017 2017 Interest income $ 894 $ 873 $ 846 $ 820 Interest expense 124 115 101 91 Net interest income 770 758 745 729 Provision for credit losses 65 43 25 68 Noninterest income 340 330 325 312 Noninterest expense 633 680 694 707 Income before income taxes 412 365 351 266 Provision (benefit) for income taxes (20 ) 90 79 59 Net income 432 275 272 207 Dividends on preferred shares 19 19 19 19 Net income applicable to common shares $ 413 $ 256 $ 253 $ 188 Net income per common share — Basic $ 0.38 $ 0.24 $ 0.23 $ 0.17 Net income per common share — Diluted 0.37 0.23 0.23 0.17 |
SIGNIFICANT ACCOUNTING POLICI_2
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Nature of Operations [Text Block] | Nature of Operations — Huntington Bancshares Incorporated (Huntington or the Company) is a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), Huntington is engaged in providing full-service commercial, small business, consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services. Huntington’s banking offices are located in Ohio, Illinois, Michigan, Pennsylvania, Indiana, West Virginia, Wisconsin and Kentucky. Select financial services and other activities are also conducted in various other states. International banking services are available through the headquarters office in Columbus, Ohio. |
Basis of Presentation | Basis of Presentation — The Consolidated Financial Statements include the accounts of Huntington and its majority-owned subsidiaries and are presented in accordance with GAAP. All intercompany transactions and balances have been eliminated in consolidation. Entities in which Huntington holds a controlling financial interest are consolidated. For a voting interest entity, a controlling financial interest is generally where Huntington holds, directly or indirectly, more than 50 percent of the outstanding voting shares. For a variable interest entity (VIE), a controlling financial interest is where Huntington has the power to direct the activities of an entity that most significantly impact the entity’s economic performance and has an obligation to absorb losses or the right to receive benefits from the VIE. These losses or benefits, which could potentially be significant to the VIE, are consolidated. For consolidated entities where Huntington holds less than a 100% interest, Huntington recognizes non-controlling interest (included in shareholders’ equity) for the equity held by minority shareholders and non-controlling profit or loss (included in noninterest expense) for the portion of the entity’s earnings attributable to minority interests. Investments in companies that are not consolidated are accounted for using the equity method when Huntington has the ability to exert significant influence. Investments in nonmarketable equity securities for which Huntington does not have the ability to exert significant influence are generally accounted for using the cost method adjusted for change in observable prices. Investments in private investment partnerships that are accounted for under the equity method or the cost method are included in other assets and Huntington’s earnings in equity investments are included in other noninterest income. Investments accounted for under the cost and equity methods are periodically evaluated for impairment. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that significantly affect amounts reported in the Consolidated Financial Statements. Huntington utilizes processes that involve the use of significant estimates and the judgments of management in determining the amount of its allowance for credit losses, income taxes, as well as fair value measurements of investment securities, derivative instruments, goodwill, other intangible assets, pension assets and liabilities, short-term borrowings, mortgage servicing rights, and loans held for sale. As with any estimate, actual results could differ from those estimates. For statements of cash flows purposes, cash and cash equivalents are defined as the sum of cash and due from banks and interest-bearing deposits at Federal Reserve Bank. Certain prior period amounts have been reclassified to conform to the current year’s presentation. |
Resale and Repurchase Agreements | Resale and Repurchase Agreements — Securities purchased under agreements to resell and securities sold under agreements to repurchase are treated as collateralized financing transactions and are recorded at the amounts at which the securities were acquired or sold plus accrued interest. The fair value of collateral either received from or provided to a third-party is monitored and additional collateral is obtained or requested to be returned to Huntington in accordance with the agreement. |
Securities | Securities — Securities purchased with the intention of recognizing short-term profits or which are actively bought and sold are classified as trading account securities and reported at fair value. The unrealized gains or losses on trading account securities are recorded in other noninterest income, except for gains and losses on trading account securities used to economically hedge the fair value of MSRs, which are included in mortgage banking income. Debt securities purchased in which Huntington has the positive intent and ability to hold to their maturity are classified as held-to-maturity securities. Held-to-maturity securities are recorded at amortized cost. All other debt and equity securities are classified as available-for-sale or other securities. Unrealized gains or losses on available-for-sale are reported as a separate component of accumulated OCI in the Consolidated Statements of Changes in Shareholders’ Equity. Credit-related declines in the value of debt securities that are considered OTTI are recorded in noninterest income. Huntington evaluates its investment securities portfolio on a quarterly basis for indicators of OTTI. Huntington assesses whether OTTI has occurred when the fair value of a debt security is less than the amortized cost basis at the balance sheet date. Management reviews the amount of unrealized loss, the length of time the security has been in an unrealized loss position, the credit rating history, market trends of similar security classes, time remaining to maturity, and the source of both interest and principal payments to identify securities which could potentially be impaired. For those debt securities that Huntington intends to sell or is more likely than not required to sell, before the recovery of their amortized cost bases, the difference between fair value and amortized cost is considered to be OTTI and is recognized in noninterest income. For those debt securities that Huntington does not intend to sell or is not more likely than not required to sell, prior to expected recovery of amortized cost bases, the credit portion of the OTTI is recognized in noninterest income while the noncredit portion is recognized in OCI. In determining the credit portion, Huntington uses a discounted cash flow analysis, which includes evaluating the timing and amount of the expected cash flows. Non-credit-related OTTI results from other factors, including increased liquidity spreads and higher interest rates. Presentation of OTTI is made in the Consolidated Statements of Income on a gross basis with a reduction for the amount of OTTI recognized in OCI. Securities transactions are recognized on the trade date (the date the order to buy or sell is executed). The carrying value plus any related accumulated OCI balance of sold securities is used to compute realized gains and losses. Interest on securities, including amortization of premiums and accretion of discounts using the effective interest method over the period to maturity, are included in interest income. Non-marketable equity securities include stock held for membership and regulatory purposes, such as FHLB stock and FRB stock. These securities are accounted for at cost, evaluated for impairment, and are included in other securities |
Loans and Leases | Loans and Leases — Loans and direct financing leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified in the Consolidated Balance Sheets as loans and leases. Except for purchase credit impaired loans and loans for which the fair value option has been elected, loans and leases are carried at the principal amount outstanding, net of charge-offs, unamortized deferred loan origination fees and costs, premiums and discounts, and unearned income. Direct financing leases are reported at the aggregate of lease payments receivable and estimated residual values, net of unearned and deferred income, and any initial direct costs incurred to originate these leases. Interest income is accrued as earned using the interest method. Huntington defers the fees it receives from the origination of loans and leases, as well as the direct costs of those activities. Huntington also acquires loans at a premium and at a discount to their contractual values. Huntington amortizes loan discounts, premiums, and net loan origination fees and costs over the contractual lives of the related loans using the effective interest method. Troubled debt restructurings are loans for which the original contractual terms have been modified to provide a concession to a borrower experiencing financial difficulties. Loan modifications are considered TDRs when the concessions provided are not available to the borrower through either normal channels or other sources. However, not all loan modifications are TDRs. Modifications resulting in troubled debt restructurings may include changes to one or more terms of the loan, including but not limited to, a change in interest rate, an extension of the repayment period, a reduction in payment amount, and partial forgiveness or deferment of principal or accrued interest. Impairment of the residual values of direct financing leases is evaluated quarterly, with those determined to be other than temporary recognized by writing the leases down to fair value with a charge to other noninterest expense. Residual value impairment arises when the expected fair value is less than the carrying amount, net of estimated amounts reimbursable by the lessee. Beginning January 1, 2019, as a result of the implementation of ASC 842, lessors will assess net investments in leases (including residual values) for impairment, and recognize any impairment losses in accordance with the impairment guidance for financial instruments. As such, net investments in leases may be reduced by a recognized allowance for credit losses, with changes recognized as provision expense. 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. |
Loans Held for Sale | Loans Held for Sale — Loans in which Huntington does not have the intent and ability to hold for the foreseeable future are classified as loans held for sale. Loans held for sale are carried at (a) the lower of cost or fair value less cost to sell, or (b) fair value where the fair value option is elected. The fair value option is generally elected for mortgage loans held for sale to facilitate hedging of the loans. The fair value of such loans is estimated based on the inputs that include prices of mortgage backed securities adjusted for other variables such as, interest rates, expected credit defaults and market discount rates. The adjusted value reflects the price we expect to receive from the sale of such loans. |
Nonaccrual and Past Due Loans | 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. Any loan in any portfolio may be placed on nonaccrual status prior to the policies described below when collection of principal or interest is in doubt. When a borrower with debt is discharged in a Chapter 7 bankruptcy and not reaffirmed by the borrower, the loan is determined to be collateral dependent and placed on nonaccrual status, unless there is a co-borrower or the repayment is likely to occur based on objective evidence. All classes within the C&I and CRE portfolios are placed on nonaccrual status at 90 -days past due. First-lien home equity loans are placed on nonaccrual status at 150 -days past due. Junior-lien home equity loans are placed on nonaccrual status at the earlier of 120 -days past due or when the related first-lien loan has been identified as nonaccrual. Automobile, RV and marine finance and other consumer loans are placed on non-accrual, if not charged off, when the loan is 120 -days past due. Residential mortgage loans are placed on nonaccrual status at 150 -days past due, with the exception of residential mortgages guaranteed by government agencies which continue to accrue interest at the rate guaranteed by the government agency. For all classes within all loan portfolios, when a loan is placed on nonaccrual status, any accrued interest income, to the extent it is recognized in the current year, is reversed and charged to interest income, and prior year amounts in interest accrued are charged-off as a credit loss. For all classes within all loan portfolios, cash receipts on NALs are applied against principal until the loan or lease has been collected in full, including the charged-off portion, after which time any additional cash receipts are recognized as interest income. However, for secured non-reaffirmed debt in a Chapter 7 bankruptcy, payments are applied to principal and interest when the borrower has demonstrated a capacity to continue payment of the debt and collection of the debt is reasonably assured. For unsecured non-reaffirmed debt in a Chapter 7 bankruptcy where the carrying value has been fully charged-off, payments are recorded as loan recoveries. Within the C&I and CRE portfolios, the determination of a borrower’s ability to make the required principal and interest payments is based on an examination of the borrower’s current financial statements, industry, management capabilities, and other qualitative measures. For all classes within the consumer loan portfolio, the determination of a borrower’s ability to make the required principal and interest payments is based on multiple factors, including number of days past due and, in some instances, an evaluation of the borrower’s financial condition. When, in management’s judgment, the borrower’s ability to make required principal and interest payments resumes and collectability is no longer in doubt, supported by sustained repayment history, the loan is returned to accrual status. For these loans that have been returned to accrual status, cash receipts are applied according to the contractual terms of the loan. |
Allowance for Credit Losses | Allowance for Credit Losses — Huntington maintains two reserves, both of which reflect management’s judgment regarding the appropriate level necessary to absorb credit losses inherent in our loan and lease portfolio: 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. The appropriateness of the ACL is based on management’s current judgments about the credit quality of the loan portfolio. These judgments consider on-going evaluations of the loan and lease portfolio, including such factors as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. Further, management evaluates the impact of changes in interest rates and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. The ALLL consists of two components: (1) the transaction reserve and (2) the general reserve. The transaction reserve component includes both (1) an estimate of loss based on pools of commercial and consumer loans and leases with similar characteristics and (2) an estimate of loss based on an impairment review of each impaired C&I and CRE loan where obligor balance is greater than $1 million . For the C&I and CRE portfolios, the estimate of loss based on pools of loans and leases with similar characteristics is made by applying PD and LGD factors to each individual loan based on a regularly updated loan grade, using a standardized loan grading system. The PD and LGD factors are determined for each loan grade using statistical models based on historical performance data. The PD factor considers on-going reviews of the financial performance of the specific borrower, including cash flow, debt-service coverage ratio, earnings power, debt level, and equity position, in conjunction with an assessment of the borrower’s industry and future prospects. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. These reserve factors are developed based on credit migration models that track historical movements of loans between loan ratings over time and a combination of long-term average loss experience of our own portfolio and external industry data. In the case of more homogeneous portfolios, such as automobile loans, home equity loans, and residential mortgage loans, the determination of the transaction reserve also incorporates PD and LGD factors. The estimate of loss is based on pools of loans and leases with similar characteristics. The PD factor considers current credit scores unless the account is delinquent, in which case a higher PD factor is used driven by the associated delinquency status. The credit score provides a basis for understanding the borrower’s past and current payment performance, and this information is used to estimate expected losses over the emergence period. The performance of first-lien loans ahead of our junior-lien loans is available to use as part of our updated score process. The LGD factor considers analysis of the type of collateral and the relative LTV ratio. Credit scores, models, analyses, and other factors used to determine both the PD and LGD factors are updated frequently to capture the recent behavioral characteristics of the subject portfolios, as well as any changes in loss mitigation or credit origination strategies, and adjustments to the reserve factors are made as required. The general reserve consists of various risk-profile reserve components. The risk-profile components consider items unique to our structure, policies, processes, and portfolio composition, as well as qualitative measurements and assessments of the loan portfolios including, but not limited to, concentrations, portfolio composition, industry comparisons, and internal review functions. The estimate for the AULC is determined using the same procedures and methodologies as used for the ALLL. The loss factors used in the AULC are the same as the loss factors used in the ALLL while also considering historical utilization of unused commitments. The AULC is recorded in other liabilities in the Consolidated Balance Sheets. |
Charge-off of Uncollectible Loans | Charge-off of Uncollectible Loans — Any loan in any portfolio may be charged-off prior to the policies described below if a loss confirming event has occurred. Loss confirming events include, but are not limited to, bankruptcy (unsecured), continued delinquency, foreclosure, or receipt of an asset valuation indicating a collateral deficiency and that asset is the sole source of repayment. Additionally, discharged, collateral dependent non-reaffirmed debt in Chapter 7 bankruptcy filings will result in a charge-off to estimated collateral value, less anticipated selling costs, unless the repayment is likely to occur based on objective evidence. C&I and CRE loans are generally either charged-off or written down to net realizable value at 90 -days past due. Automobile, RV and marine finance and other consumer loans are generally charged-off at 120 -days past due. First-lien and junior-lien home equity loans are charged-off to the estimated fair value of the collateral, less anticipated selling costs, at 150 -days past due and 120 -days past due, respectively. Residential mortgages are charged-off to the estimated fair value of the collateral at 150 -days past due. |
Impaired Loans | Impaired Loans — For all classes within the C&I and CRE portfolios, loans with an obligor balance of $1 million or greater are evaluated on a quarterly basis for impairment. Except for TDRs, consumer loans within any class are generally not individually evaluated on a regular basis for impairment. All TDRs, regardless of the outstanding balance amount, are also considered to be impaired. Loans acquired with evidence of deterioration in credit quality since origination for which it is probable at acquisition that all contractually required payments will not be collected are also considered to be impaired. Once a loan has been identified for an assessment of impairment, the loan is considered impaired when, based on current information and events, it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. This determination requires significant judgment and use of estimates, and the eventual outcome may differ significantly from those estimates. When a loan in any class has been determined to be impaired, the amount of the impairment is measured using the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, the observable market price of the loan, or the fair value of the collateral, less anticipated selling costs, if the loan is collateral dependent. A specific reserve is established as a component of the ALLL when a loan has been determined to be impaired. Subsequent to the initial measurement of impairment, if there is a significant change to the impaired loan’s expected future cash flows, or if actual cash flows are significantly different from the cash flows previously estimated, Huntington recalculates the impairment and appropriately adjusts the specific reserve. Similarly, if Huntington measures impairment based on the observable market price of an impaired loan or the fair value of the collateral of an impaired collateral dependent loan, Huntington will adjust the specific reserve as appropriate. When a loan within any class is impaired, the accrual of interest income is discontinued unless the receipt of principal and interest is no longer in doubt. Interest income on TDRs is accrued when all principal and interest is expected to be collected under the post-modification terms. Cash receipts on nonaccruing impaired loans within any class are generally applied entirely against principal until the loan has been collected in full (including any portion charged-off) or the loan is deemed current, after which time any additional cash receipts are recognized as interest income. Cash receipts on accruing impaired loans within any class are applied in the same manner as accruing loans that are not considered impaired. |
Collateral | Collateral — We pledge assets as collateral as required for various transactions including security repurchase agreements, public deposits, loan notes, derivative financial instruments, short-term borrowings and long-term borrowings. Assets that have been pledged as collateral, including those that can be sold or repledged by the secured party, continue to be reported on our Consolidated Balance Sheets. We also accept collateral, primarily as part of various transactions including derivative instruments and security resale agreements. Collateral accepted by us, including collateral that we can sell or repledge, is excluded from our Consolidated Balance Sheets. The market value of collateral we have accepted or pledged is regularly monitored and additional collateral is obtained or provided as necessary to ensure appropriate collateral coverage in these transactions |
Premises and Equipment | Premises and Equipment — Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed principally by the straight-line method over the estimated useful lives of the related assets. Buildings and building improvements are depreciated over an average of 30 to 40 years and 10 to 30 years, respectively. Land improvements and furniture and fixtures are depreciated over an average of 5 to 20 years, while equipment is depreciated over a range of 3 to 10 years. Leasehold improvements are amortized over the lesser of the asset’s useful life or the lease term, including any renewal periods for which renewal is reasonably assured. Maintenance and repairs are charged to expense as incurred, while improvements that extend the useful life of an asset are capitalized and depreciated over the remaining useful life. Amounts in premises and equipment may include items classified as held-for-sale, which are carried at lower of cost or fair value, less costs to sell. Premises and equipment is evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. |
Mortgage Servicing Rights | Mortgage Servicing Rights — Huntington recognizes the rights to service mortgage loans as an asset when servicing is contractually separated from the underlying mortgage loans by sale or securitization of the loans with servicing rights retained or when purchased. MSRs are included in servicing rights and other intangible assets in the Consolidated Balance Sheets. For loan sales with servicing retained, a servicing asset is recorded on the day of the sale at fair value for the right to service the loans sold. To determine the fair value of a MSR, Huntington uses an option adjusted spread cash flow analysis incorporating market implied forward interest rates to estimate the future direction of mortgage and market interest rates. The forward rates utilized are derived from the current yield curve for U.S. dollar interest rate swaps and are consistent with pricing of capital markets instruments. The current and projected mortgage interest rate influences the prepayment rate and, therefore, the timing and magnitude of the cash flows associated with the MSR. Servicing revenues on mortgage loans are included in mortgage banking income. At the time of initial capitalization, MSRs may be grouped into servicing classes based on the availability of market inputs used in determining fair value and the method used for managing the risks of the servicing assets. MSR assets are recorded using the fair value method or the amortization method. The election of the fair value or amortization method is made at the time each servicing class is established. All newly created MSRs since 2009 were recorded using the amortization method. Any change in the fair value of MSRs carried under the fair value method, as well as amortization and impairment of MSRs under the amortization method, during the period is recorded in mortgage banking income. Huntington economically hedges the value of certain MSRs using derivative instruments and trading securities. Changes in fair value of these derivatives and trading securities are reported as a component of mortgage banking income. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets — Under the acquisition method of accounting, the net assets of entities acquired by Huntington are recorded at their estimated fair value at the date of acquisition. The excess cost of consideration paid over the fair value of net assets acquired is recorded as goodwill. Other intangible assets with finite useful lives are amortized either on an accelerated or straight-line basis over their estimated useful lives. Goodwill is evaluated for impairment on an annual basis at October 1 st of each year or whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Other intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. |
Derivative Financial Instruments | Derivative Financial Instruments — A variety of derivative financial instruments, principally interest rate swaps, caps, floors, and collars, are used in asset and liability management activities to protect against the risk of adverse price or interest rate movements. These instruments provide flexibility in adjusting Huntington’s sensitivity to changes in interest rates without exposure to loss of principal and higher funding requirements. Huntington also uses derivatives, principally loan sale commitments, in hedging its mortgage loan interest rate lock commitments and its mortgage loans held for sale. Mortgage loan sale commitments and the related interest rate lock commitments are carried at fair value on the Consolidated Balance Sheets with changes in fair value reflected in mortgage banking income. Huntington also uses certain derivative financial instruments to offset changes in value of its MSRs. These derivatives consist primarily of forward interest rate agreements and forward mortgage contracts. The derivative instruments used are not designated as qualifying hedges. Accordingly, such derivatives are recorded at fair value with changes in fair value reflected in mortgage banking income. Derivative financial instruments are recorded in the Consolidated Balance Sheets as either an asset or a liability (in other assets or other liabilities, respectively) and measured at fair value. On the date a derivative contract is entered into, we designate it as either: • a qualifying hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge); • a qualifying hedge of the variability of cash flows to be received or paid related to a recognized asset liability or forecasted transaction (cash flow hedge); or • a trading instrument or a non-qualifying (economic) hedge. Changes in the fair value of a derivative that has been designated and qualifies as a fair value hedge, along with the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of a derivative that has been designated and qualifies as a cash flow hedge are recorded in accumulated other comprehensive income, net of income taxes, and reclassified into earnings in the period during which the hedged item affects earnings. Changes in the fair value of derivatives held for trading purposes or which do not qualify for hedge accounting are reported in current period earnings. For those derivatives to which hedge accounting is applied, Huntington formally documents the hedging relationship and the risk management objective and strategy for undertaking the hedge. This documentation identifies the hedging instrument, the hedged item or transaction, the nature of the risk being hedged, and, unless the hedge meets all of the criteria to assume there is no ineffectiveness, the method that will be used to assess the effectiveness of the hedging instrument and how ineffectiveness will be measured. The methods utilized to assess retrospective hedge effectiveness, as well as the frequency of testing, vary based on the type of item being hedged and the designated hedge period. For specifically designated fair value hedges of certain fixed-rate debt, Huntington utilizes the short-cut method when certain criteria are met. For other fair value hedges of fixed-rate debt, Huntington utilizes the regression method to evaluate hedge effectiveness on a quarterly basis. Hedge accounting is discontinued prospectively when: • the derivative is no longer effective or expected to be effective in offsetting changes in the fair value or cash flows of a hedged item (including firm commitments or forecasted transactions); • the derivative expires or is sold, terminated, or exercised; • the forecasted transaction is no longer probable of occurring; • the hedged firm commitment no longer meets the definition of a firm commitment; or • the designation of the derivative as a hedging instrument is removed. When hedge accounting is discontinued and the derivative no longer qualifies as an effective fair value or cash flow hedge, the derivative continues to be carried on the balance sheet at fair value. In the case of a discontinued fair value hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the hedged item will no longer be adjusted for changes in fair value. The basis adjustment that had previously been recorded to the hedged item during the period from the hedge designation date to the hedge discontinuation date is recognized as an adjustment to the yield of the hedged item over the remaining life of the hedged item. In the case of a discontinued cash flow hedge of a recognized asset or liability, as long as the hedged item continues to exist on the balance sheet, the changes in fair value of the hedging derivative will no longer be recorded to other comprehensive income. The balance applicable to the discontinued hedging relationship will be recognized in earnings over the remaining life of the hedged item as an adjustment to yield. If the discontinued hedged item was a forecasted transaction that is not expected to occur, any amounts recorded on the balance sheet related to the hedged item, including any amounts recorded in accumulated other comprehensive income, are immediately reclassified to current period earnings. In the case of either a fair value hedge or a cash flow hedge, if the previously hedged item is sold or extinguished, the basis adjustment to the underlying asset or liability or any remaining unamortized AOCI balance will be recognized in the current period earnings. In all other situations in which hedge accounting is discontinued, the derivative will be carried at fair value on the consolidated balance sheets, with changes in its fair value recognized in current period earnings unless re-designated as a qualifying hedge. Like other financial instruments, derivatives contain an element of credit risk, which is the possibility that Huntington will incur a loss because the counterparty fails to meet its contractual obligations. Notional values of interest rate swaps and other off-balance sheet financial instruments significantly exceed the credit risk associated with these instruments and represent contractual balances on which calculations of amounts to be exchanged are based. Credit exposure is limited to the sum of the aggregate fair value of positions that have become favorable to Huntington, including any accrued interest receivable due from counterparties. Potential credit losses are mitigated through careful evaluation of counterparty credit standing, selection of counterparties from a limited group of high quality institutions, collateral agreements, and other contract provisions. Huntington considers the value of collateral held and collateral provided in determining the net carrying value of derivatives. Huntington offsets the fair value amounts recognized for derivative instruments and the fair value for the right to reclaim cash collateral or the obligation to return cash collateral arising from derivative instrument(s) recognized at fair value executed with the same counterparty under a master netting arrangement. |
Fair Value Measurements | Fair Value Measurements — The Company records or discloses certain of its assets and liabilities at fair value. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are classified within one of three levels in a valuation hierarchy based upon the observability of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: • Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. |
Bank Owned Life Insurance [Policy Text Block] | Bank Owned Life Insurance — Huntington’s bank owned life insurance policies are recorded at their cash surrender value. Huntington recognizes tax-exempt income from the periodic increases in the cash surrender value of these policies and from death benefits. A portion of the cash surrender value is supported by holdings in separate accounts. Book value protection for the separate accounts is provided by the insurance carriers and a highly rated major bank. |
Transfers of Financial Assets and Securitizations | Transfers of Financial Assets and Securitizations — Transfers of financial assets in which we have surrendered control over the transferred assets are accounted for as sales. In assessing whether control has been surrendered, we consider whether the transferee would be a consolidated affiliate, the existence and extent of any continuing involvement in the transferred financial assets, and the impact of all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of transfer. Control is generally considered to have been surrendered when (i) the transferred assets have been legally isolated from us or any of our consolidated affiliates, even in bankruptcy or other receivership, (ii) the transferee (or, if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing that is constrained from pledging or exchanging the assets it receives, each third-party holder of its beneficial interests) has the right to pledge or exchange the assets (or beneficial interests) it received without any constraints that provide more than a trivial benefit to us, and (iii) neither we nor our consolidated affiliates and agents have (a) both the right and obligation under any agreement to repurchase or redeem the transferred assets before their maturity, (b) the unilateral ability to cause the holder to return specific financial assets that also provides us with a more-than-trivial benefit (other than through a cleanup call) or (c) an agreement that permits the transferee to require us to repurchase the transferred assets at a price so favorable that it is probable that it will require us to repurchase them. If the sale criteria are met, the transferred financial assets are removed from our balance sheet and a gain or loss on sale is recognized. If the sale criteria are not met, the transfer is recorded as a secured borrowing in which the assets remain on our balance sheet and the proceeds from the transaction are recognized as a liability. For the majority of financial asset transfers, it is clear whether or not we have surrendered control. For other transfers, such as in the case of complex transactions or where we have continuing involvement, we generally obtain a legal opinion as to whether the transfer results in a true sale by law. Gains and losses on the loans and leases sold and servicing rights associated with loan and lease sales are determined when the related loans or leases are sold to either a securitization trust or third-party. For loan or lease sales with servicing retained, a servicing asset is recorded at fair value for the right to service the loans sold. |
Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits — Huntington recognizes the funded status of the postretirement benefit plans on the Consolidated Balance Sheets. Net postretirement benefit cost charged to current earnings related to these plans is predominantly based on various actuarial assumptions regarding expected future experience. Certain employees are participants in various defined contribution and other non-qualified supplemental retirement plans. Contributions to defined contribution plans are charged to current earnings. In addition, we maintain a 401(k) plan covering substantially all employees. Employer contributions to the plan are charged to current earnings. |
Noninterest Income, Policy [Policy Text Block] | Noninterest Income — Huntington recognizes revenue when the performance obligations related to the transfer of goods or services under the terms of a contract are satisfied. Some obligations are satisfied at a point in time while others are satisfied over a period of time. Revenue is recognized as the amount of consideration to which Huntington expects to be entitled to in exchange for transferring goods or services to a customer. When consideration includes a variable component, the amount of consideration attributable to variability is included in the transaction price only to the extent it is probable that significant revenue recognized will not be reversed when uncertainty associated with the variable consideration is subsequently resolved. Generally, the variability relating to the consideration is explicitly stated in the contracts, but may also arise from Huntington’s customer business practice, for example, waiving certain fees related to customer’s deposit accounts such as NSF fees. Huntington’s contracts generally do not contain terms that require significant judgement to determine the variability impacting the transaction price. Revenue is segregated based on the nature of product and services offered as part of contractual arrangements. Revenue from contracts with customers is broadly segregated as follows: • Service charges on deposit accounts include fees and other charges Huntington receives to provide various services, including but not limited to, maintaining an account with a customer, providing overdraft services, wire transfer, transferring funds, and accepting and executing stop-payment orders. The consideration includes both fixed (e.g., account maintenance fee) and transaction fees (e.g., wire-transfer fee). The fixed fee is recognized over a period of time while the transaction fee is recognized when a specific service (e.g., execution of wire-transfer) is rendered to the customer. Huntington may, from time to time, waive certain fees (e.g., NSF fee) for customers but generally does not reduce the transaction price to reflect variability for future reversals due to the insignificance of the amounts. Waiver of fees reduces the revenue in the period the waiver is granted to the customer. • Card and payment processing income includes interchange fees earned on debit cards and credit cards. All other fees (e.g., annual fees), and interest income are recognized in accordance with ASC 310. Huntington recognizes interchange fees for services performed related to authorization and settlement of a cardholder’s transaction with a merchant. Revenue is recognized when a cardholder’s transaction is approved and settled. The revenue may be constrained due to inherent uncertainty related to cardholder’s right to return goods and services but as the uncertainty is resolved within a short period of time (generally within 30 days) interchange revenue is reduced by the amount of returns in the period the return is made by the customer. Certain volume or transaction based interchange expenses (net of rebates) paid to the payment network reduce the interchange revenue and are presented net on the income statement. Similarly, rewards payable under a reward program to cardholders are recognized as a reduction of the transaction price and are presented net against the interchange revenue. • Trust and investment management services includes fee income generated from personal, corporate and institutional customers. Huntington also provides investment management services, cash management services and tax reporting to customers. Services are rendered over a period of time, over which revenue is recognized. Huntington may also recognize revenue from referring a customer to outside third-parties including mutual fund companies that pay distribution (12b-1) fees and other expenses. 12b-1 fees are received upon initially placing account holder’s funds with a mutual fund company as well as in the future periods as long as the account holder (i.e., the fund investor), remains invested in the fund. The transaction price includes variable consideration which is considered constrained as it is not probable that a significant revenue reversal in the amount of cumulative revenue recognized will not occur. Accordingly, those fees are recognized as revenue when the uncertainty associated with the variable consideration is subsequently resolved, that is, initial fees are recognized in the initial period while the future fees are recognized in future periods. • Insurance income includes agency commissions that are recognized when Huntington sells insurance policies to customers. Huntington is also entitled to renewal commissions and, in some cases, profit sharing which are recognized in subsequent periods. The initial commission is recognized when the insurance policy is sold to a customer. Renewal commission is variable consideration and is recognized in subsequent periods when the uncertainty around variable consideration is subsequently resolved (i.e., when customer renews the policy). Profit sharing is also a variable consideration that is not recognized until the variability surrounding realization of revenue is resolved (i.e., Huntington has reached a minimum volume of sales). Another source of variability is the ability of the policy holder to cancel the policy anytime. In such cases, Huntington may be required, under the terms of the contract, to return part of the commission received. A policy cancellation reserve is established for such expected cancellations. • Other noninterest income includes a variety of other revenue streams including capital markets revenue, miscellaneous consumer fees and marketing allowance revenue. Revenue is recognized when, or as, a performance obligation is satisfied. Inherent variability in the transaction price is not recognized until the uncertainty affecting the variability is resolved. Control is transferred to a customer either at a point in time or over time. A performance obligation is deemed satisfied when the control over goods or services is transferred to the customer. To determine when control is transferred at a point in time, Huntington considers indicators, including but not limited to the right to payment for the asset, transfer of significant risk and rewards of ownership of the asset and acceptance of the asset by the customer. When control is transferred over a period of time, for different performance obligations, either the input or output method is used to determine the progress. The measure of progress used to assess completion of the performance obligation varies between performance obligations and may be based on time throughout the period of service or on the value of goods and services transferred to the customer. As each distinct service or activity is performed, Huntington transfers control to the customer based on the services performed as the customer simultaneously receives the benefits of those services. This timing of revenue recognition aligns with the resolution of any uncertainty related to variable consideration. Costs to obtain a revenue producing contract are expensed when incurred as a practical expedient as the contractual period for majority of contracts is one year or less. Revenue is recorded in the business segment responsible for the related product or service. Fee sharing arrangements exist to allocate portions of such revenue to other business segments involved in selling to, or providing service to, customers. Business segment results are determined based upon management’s reporting system, which assigns balance sheet and income statement items to each of the business segments. The process is designed around Huntington’s organizational and management structure and, accordingly, the results derived are not necessarily comparable with similar information published by other financial institutions. |
Income Taxes | Income Taxes — Income taxes are accounted for under the asset and liability method. Accordingly, deferred tax assets and liabilities are recognized for the future book and tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are determined using enacted tax rates expected to apply in the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income at the time of enactment of such change in tax rates. Any interest or penalties due for payment of income taxes are included in the provision for income taxes. To the extent we do not consider it more likely than not that a deferred tax asset will be recovered, a valuation allowance is recorded. All positive and negative evidence is reviewed when determining how much of a valuation allowance is recognized on a quarterly basis. In determining the requirements for a valuation allowance, sources of possible taxable income are evaluated including future reversals of existing taxable temporary differences, future taxable income exclusive of reversing temporary differences and carryforwards, taxable income in appropriate carryback years, and tax-planning strategies. Huntington applies a more likely than not recognition threshold for all tax uncertainties. |
Share-Based Compensation | Share-Based Compensation — Huntington uses the fair value based method of accounting for awards of HBAN stock granted to employees under various share-based compensation plans. Share-based compensation costs are recognized prospectively for all new awards granted under these plans. Compensation expense relating to stock options is calculated using a methodology that is based on the underlying assumptions of the Black-Scholes option pricing model and is charged to expense over the requisite service period (e.g., vesting period). Compensation expense relating to restricted stock awards is based upon the fair value of the awards on the date of grant and is charged to earnings over the requisite service period (e.g., vesting period) of the award. |
Stock Repurchases | Stock Repurchases — Acquisitions of Huntington stock are recorded at cost. |
Segment Results | Segment Results — Accounting policies for the business segments are the same as those used in the preparation of the Consolidated Financial Statements with respect to activities specifically attributable to each business segment. However, the preparation of business segment results requires management to establish methodologies to allocate funding costs and benefits, expenses, and other financial elements to each business segment, which are described in Note 23 |
LOANS AND LEASES AND ALLOWANC_2
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Asset and liability derivatives included in accrued income and other assets [Table Text Block] | December 31, 2018 December 31, 2017 (dollar amounts in millions) Asset Liability Asset Liability Derivatives designated as Hedging Instruments Interest rate contracts $ 44 $ 42 $ 22 $ 121 Derivatives not designated as Hedging Instruments Interest rate contracts 261 165 187 100 Foreign exchange contracts 23 19 18 18 Commodities contracts 172 168 92 87 Equity contracts — 10 3 5 Total Contracts $ 500 $ 404 $ 322 $ 331 |
Schedule of financing receivable portfolio segments | The following table provides a detailed listing of Huntington’s loan and lease portfolio at December 31, 2018 and December 31, 2017 . At December 31, (dollar amounts in millions) 2018 2017 Loans and leases: Commercial and industrial $ 30,605 $ 28,107 Commercial real estate 6,842 7,225 Automobile 12,429 12,100 Home equity 9,722 10,099 Residential mortgage 10,728 9,026 RV and marine finance 3,254 2,438 Other consumer 1,320 1,122 Loans and leases 74,900 70,117 Allowance for loan and lease losses (772 ) (691 ) Net loans and leases $ 74,128 $ 69,426 |
Lease financing receivables | Huntington’s loan and lease portfolio includes lease financing receivables consisting of direct financing leases on equipment, which are included in C&I loans. Net investments in lease financing receivables by category at December 31, 2018 and 2017 were as follows: At December 31, (dollar amounts in millions) 2018 2017 Commercial and industrial: Lease payments receivable $ 1,747 $ 1,645 Estimated residual value of leased assets 726 755 Gross investment in commercial lease financing receivables 2,473 2,400 Deferred origination costs 20 18 Deferred fees (250 ) (225 ) Total net investment in commercial lease financing receivables $ 2,243 $ 2,193 |
Nonaccrual loans by loan class | The following table presents NALs by loan class at December 31, 2018 and 2017 : December 31, (dollar amounts in millions) 2018 2017 Commercial and industrial $ 188 $ 161 Commercial real estate 15 29 Automobile 5 6 Home equity 62 68 Residential mortgage 69 84 RV and marine finance 1 1 Other consumer — — Total nonaccrual loans $ 340 $ 349 |
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 December 31, 2018 and 2017 (1): 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 finance 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 December 31, 2017 Past Due (1) Loans Accounted for Under FVO Total Loans 90 or (dollar amounts in millions) 30-59 60-89 90 or Total Current Purchased Commercial and industrial $ 35 $ 14 $ 65 $ 114 $ 27,954 39 — $ 28,107 $ 9 (2) Commercial real estate 10 1 11 22 7,201 2 — 7,225 3 Automobile 89 18 10 117 11,982 — 1 12,100 7 Home equity 49 19 60 128 9,969 — 2 10,099 18 Residential mortgage 129 48 118 295 8,642 — 89 9,026 72 (3) RV and marine finance 11 3 2 16 2,421 — 1 2,438 1 Other consumer 12 5 5 22 1,100 — — 1,122 5 Total loans and leases $ 335 $ 108 $ 271 $ 714 $ 69,269 $ 41 $ 93 $ 70,117 $ 115 (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. |
ALLL and AULC activity by portfolio segment | The following table presents ALLL and AULC activity by portfolio segment for the years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) Commercial Consumer Total Year ended December 31, 2018: ALLL balance, beginning of period $ 482 $ 209 $ 691 Loan charge-offs (79 ) (189 ) (268 ) Recoveries of loans previously charged-off 65 58 123 Provision for loan and lease losses 74 152 226 ALLL balance, end of period $ 542 $ 230 $ 772 AULC balance, beginning of period $ 84 $ 3 $ 87 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 10 (1 ) 9 AULC balance, end of period $ 94 $ 2 $ 96 ACL balance, end of period $ 636 $ 232 $ 868 Year ended December 31, 2017: ALLL balance, beginning of period $ 451 $ 187 $ 638 Loan charge-offs (72 ) (180 ) (252 ) Recoveries of loans previously charged-off 41 52 93 Provision for loan and lease losses 62 150 212 ALLL balance, end of period $ 482 $ 209 $ 691 AULC balance, beginning of period $ 87 $ 11 $ 98 Provision (reduction in allowance) for unfunded loan commitments and letters of credit (3 ) (8 ) (11 ) AULC balance, end of period $ 84 $ 3 $ 87 ACL balance, end of period $ 566 $ 212 $ 778 Year ended December 31, 2016: ALLL balance, beginning of period $ 399 $ 199 $ 598 Loan charge-offs (92 ) (135 ) (227 ) Recoveries of loans previously charged-off 73 45 118 Provision for loan and lease losses 85 84 169 Allowance for loans sold or transferred to loans held for sale (14 ) (6 ) (20 ) ALLL balance, end of period $ 451 $ 187 $ 638 AULC balance, beginning of period $ 64 $ 8 $ 72 Provision (reduction in allowance) for unfunded loan commitments and letters of credit 19 3 22 AULC recorded at acquisition 4 — 4 AULC balance, end of period $ 87 $ 11 $ 98 ACL balance, end of period $ 538 $ 198 $ 736 |
Loan and lease balances by credit quality indicator | The following table presents each loan and lease class by credit quality indicator at December 31, 2018 and 2017 : December 31, 2018 Credit Risk Profile by UCS Classification (dollar amounts in millions) 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) 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 finance 2,074 990 105 85 3,254 Other consumer 501 633 129 57 1,320 December 31, 2017 Credit Risk Profile by UCS Classification (dollar amounts in millions) Pass OLEM Substandard Doubtful Total Commercial and industrial $ 26,268 $ 694 $ 1,116 $ 29 $ 28,107 Commercial real estate 6,909 200 115 1 7,225 Credit Risk Profile by FICO Score (1), (2) 750+ 650-749 <650 Other (3) Total Automobile 6,102 4,312 1,390 295 $ 12,099 Home equity 6,352 3,024 617 104 10,097 Residential mortgage 5,697 2,581 605 54 8,937 RV and marine finance 1,433 863 96 45 2,437 Other consumer 428 540 143 11 1,122 (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 for the years ended December 31, 2018 and 2017 : (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 balance: 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. (dollar amounts in millions) Commercial Consumer Total ALLL at December 31, 2017 Portion of ALLL balance: Attributable to loans individually evaluated for impairment $ 32 $ 9 $ 41 Attributable to loans collectively evaluated for impairment 450 200 650 Total ALLL balance: $ 482 $ 209 $ 691 Loan and Lease Ending Balances at December 31, 2017 (1) Portion of loan and lease ending balances: Attributable to purchased credit-impaired loans $ 41 $ — $ 41 Individually evaluated for impairment 607 616 1,223 Collectively evaluated for impairment 34,684 34,076 68,760 Total loans and leases evaluated for impairment $ 35,332 $ 34,692 $ 70,024 |
Detailed impaired loan information by class | The following tables present by class the ending, unpaid principal balance, and the related ALLL, along with the average balance and interest income recognized only for impaired loans and leases for the years ended December 31, 2018 and 2017 (1): Year Ended December 31, 2018 December 31, 2018 (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 224 $ 261 $ — $ 256 $ 22 Commercial real estate 36 45 — 47 8 With an allowance recorded: Commercial and industrial 221 240 31 272 11 Commercial real estate 35 39 2 45 2 Automobile 38 42 2 37 2 Home equity 314 356 10 326 14 Residential mortgage 287 323 4 297 11 RV and marine finance 2 3 — 2 — Other consumer 9 9 3 8 — Total Commercial and industrial (3) 445 501 31 528 33 Commercial real estate (4) 71 84 2 92 10 Automobile (2) 38 42 2 37 2 Home equity (5) 314 356 10 326 14 Residential mortgage (5) 287 323 4 297 11 RV and marine finance (2) 2 3 — 2 — Other consumer (2) 9 9 3 8 — Year Ended December 31, 2017 December 31, 2017 (dollar amounts in millions) Ending Balance Unpaid Principal Balance (6) Related Allowance (7) Average Balance Interest Income Recognized With no related allowance recorded: Commercial and industrial $ 284 $ 311 $ — $ 206 $ 12 Commercial real estate 56 81 — 64 8 With an allowance recorded: Commercial and industrial 257 280 29 292 16 Commercial real estate 51 51 3 52 2 Automobile 36 40 2 33 2 Home equity 334 385 14 329 15 Residential mortgage 308 338 4 325 12 RV and marine finance 2 3 — 1 — Other consumer 8 8 2 5 — Total Commercial and industrial (3) 541 591 29 498 28 Commercial real estate (4) 107 132 3 116 10 Automobile (2) 36 40 2 33 2 Home equity (5) 334 385 14 329 15 Residential mortgage (5) 308 338 4 325 12 RV and marine finance (2) 2 3 — 1 — Other consumer (2) 8 8 2 5 — (1) These tables do not include loans fully charged-off. (2) All automobile, RV and marine finance and other consumer impaired loans included in these tables are considered impaired due to their status as a TDR. (3) At December 31, 2018 and December 31, 2017 , C&I loans of $366 million and $382 million , respectively, were considered impaired due to their status as a TDR. (4) At December 31, 2018 and December 31, 2017 , CRE loans of $60 million and $93 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) |
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 years ended December 31, 2018 and 2017 . New Troubled Debt Restructurings (1) Year Ended December 31, 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 725 $ — $ 352 $ — $ — $ 352 Commercial real estate 102 — 82 — — 82 Automobile 2,867 — 15 8 — 23 Home equity 602 — 25 11 — 36 Residential mortgage 345 — 34 3 — 37 RV and marine finance 117 — — 1 — 1 Other consumer 1,633 8 — — — 8 Total new TDRs 6,391 $ 8 $ 508 $ 23 $ — $ 539 Year Ended December 31, 2017 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 1,047 $ 1 $ 600 $ — $ — $ 601 Commercial real estate 111 — 122 — — 122 Automobile 2,741 — 15 8 — 23 Home equity 922 2 33 11 4 50 Residential mortgage 453 — 40 7 2 49 RV and marine finance 131 — 1 1 — 2 Other consumer 1,340 — 6 — — 6 Total new TDRs 6,745 $ 3 $ 817 $ 27 $ 6 $ 853 (1) TDRs may include multiple concessions. The disclosure classifications are based on the primary concession provided to the borrower. (2) Post-modification balances approximate pre-modification balances. The aggregate amount of charge-offs as a result of a restructuring are not significant. |
INVESTMENT SECURITIES AND OTH_2
INVESTMENT SECURITIES AND OTHER SECURITIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
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 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. 2018 (dollar amounts in millions) Amortized Cost Fair Value Available-for-sale securities: Under 1 year $ 186 $ 185 After 1 year through 5 years 1,057 1,039 After 5 years through 10 years 1,838 1,802 After 10 years 11,027 10,754 Total available-for-sale securities $ 14,108 $ 13,780 Held-to-maturity securities: Under 1 year $ — $ — After 1 year through 5 years 11 11 After 5 years through 10 years 362 356 After 10 years 8,192 7,919 Total held-to-maturity securities $ 8,565 $ 8,286 |
Schedule of Unrealized Loss on Investments [Table Text Block] | The following tables provide detail on investment securities with unrealized losses aggregated by investment category and the length of time the individual securities have been in a continuous loss position at December 31, 2018 and 2017 : 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 ) Less than 12 Months Over 12 Months Total (dollar amounts in millions) Fair Gross Unrealized Fair Gross Unrealized Fair Gross Unrealized December 31, 2017 Available-for-sale securities: Federal agencies: Residential CMO $ 1,660 $ (19 ) $ 4,520 $ (159 ) $ 6,180 $ (178 ) Residential MBS 1,078 (5 ) 11 — 1,089 (5 ) Commercial MBS 960 (15 ) 1,527 (37 ) 2,487 (52 ) Other agencies 39 — — — 39 — Total federal agency and other agency securities 3,737 (39 ) 6,058 (196 ) 9,795 (235 ) Municipal securities 1,681 (21 ) 497 (14 ) 2,178 (35 ) Asset-backed securities 127 (1 ) 173 (15 ) 300 (16 ) Total temporarily impaired securities $ 5,545 $ (61 ) $ 6,728 $ (225 ) $ 12,273 $ (286 ) Held-to-maturity securities: Federal agencies: Residential CMO $ 2,369 $ (26 ) $ 1,019 $ (32 ) $ 3,388 $ (58 ) Residential MBS 974 (7 ) — — 974 (7 ) Commercial MBS 3,456 (49 ) 253 (6 ) 3,709 (55 ) Other agencies 249 (2 ) 139 (2 ) 388 (4 ) Total federal agency and other agency securities 7,048 (84 ) 1,411 (40 ) 8,459 (124 ) Municipal securities — — 5 — 5 — Total temporarily impaired securities $ 7,048 $ (84 ) $ 1,416 $ (40 ) $ 8,464 $ (124 ) |
Gain (Loss) on Securities [Table Text Block] | The following table is a summary of realized securities gains and losses for the years ended December 31, 2018 , 2017 , and 2016 : Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Gross gains on sales of securities $ 7 $ 10 $ 23 Gross (losses) on sales of securities (28 ) (10 ) (21 ) Net gain (loss) on sales of securities $ (21 ) $ — $ 2 OTTI recognized in earnings — (4 ) (2 ) Net securities (losses) $ (21 ) $ (4 ) $ — |
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 December 31, 2018 and 2017 : Unrealized (dollar amounts in millions) Amortized Cost Gross Gains Gross Losses 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 Unrealized (dollar amounts in millions) Amortized Gross Gross Fair Value December 31, 2017 Available-for-sale securities: U.S. Treasury $ 5 $ — $ — $ 5 Federal agencies: Residential CMO 6,661 1 (178 ) 6,484 Residential MBS 1,371 1 (5 ) 1,367 Commercial MBS 2,539 — (52 ) 2,487 Other agencies 69 1 — 70 Total U.S. Treasury, federal agency and other agency securities 10,645 3 (235 ) 10,413 Municipal securities 3,892 21 (35 ) 3,878 Asset-backed securities 482 1 (16 ) 467 Corporate debt 106 3 — 109 Other securities/Sovereign debt 2 — — 2 Total available-for-sale securities $ 15,127 $ 28 $ (286 ) $ 14,869 Held-to-maturity securities: Federal agencies: Residential CMO $ 3,714 $ 1 $ (58 ) $ 3,657 Residential MBS 1,049 2 (7 ) 1,044 Commercial MBS 3,791 — (55 ) 3,736 Other agencies 532 1 (4 ) 529 Total federal agency and other agency securities 9,086 4 (124 ) 8,966 Municipal securities 5 — — 5 Total held-to-maturity securities $ 9,091 $ 4 $ (124 ) $ 8,971 Other securities, at cost: Non-marketable equity securities: Federal Home Loan Bank stock $ 287 $ — $ — $ 287 Federal Reserve Bank stock 294 — — 294 Other securities, at fair value Mutual funds 18 — — 18 Marketable equity securities 1 — — 1 Total other securities $ 600 $ — $ — $ 600 |
MORTGAGE LOAN SALES AND SERVI_2
MORTGAGE LOAN SALES AND SERVICING RIGHTS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Transfers and Servicing [Abstract] | |
Schedule of activity relating to loans securitized sold with servicing rights | The following table summarizes activity relating to residential mortgage loans sold with servicing retained for the years ended December 31, 2018 , 2017 , and 2016 : Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Residential mortgage loans sold with servicing retained $ 3,846 $ 3,985 $ 3,632 Pretax gains resulting from above loan sales (1) 87 99 97 (1) Recorded in mortgage banking income. |
Servicing asset at amortized cost | (dollar amounts in millions) 2018 2017 Carrying value, beginning of year $ 191 $ 172 New servicing assets created 44 44 Impairment recovery (charge) 6 1 Amortization and other (30 ) (26 ) Carrying value, end of year $ 211 $ 191 Fair value, end of year $ 212 $ 191 Weighted-average life (years) 6.7 7.1 |
Summary of key assumptions and the sensitivity analysis of servicing rights | For MSRs under the amortization method, a summary of key assumptions and the sensitivity of the MSR value to changes in these assumptions at December 31, 2018 , and 2017 follows: December 31, 2018 December 31, 2017 Decline in fair value due to Decline in fair value due to (dollar amounts in millions) Actual 10% adverse change 20% adverse change Actual 10% adverse change 20% adverse change Constant prepayment rate (annualized) 9.40 % $ (6 ) $ (12 ) 8.30 % $ (5 ) $ (10 ) Spread over forward interest rate swap rates 934 bps (7 ) (13 ) 1,049 bps (7 ) (13 ) |
GOODWILL AND OTHER INTANGIBLE_2
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill by business segment | A rollforward of goodwill by business segment for the years ended December 31, 2018 and 2017 , is presented in the table below: Consumer & Business Commercial Vehicle Treasury/ Huntington (dollar amounts in millions) Banking Banking Finance RBHPCG Other Consolidated Balance, January 1, 2017 $ 1,398 $ 453 $ — $ 142 $ — $ 1,993 Adjustments — (28 ) — 28 — — Balance, December 31, 2017 1,398 425 — 170 — 1,993 Goodwill acquired during the period — 1 — — — 1 Adjustments (5 ) — — — — (5 ) Balance, December 31, 2018 $ 1,393 $ 426 $ — $ 170 $ — $ 1,989 |
Summary of other intangible assets | At December 31, 2018 and 2017 , Huntington’s other intangible assets consisted of the following: (dollar amounts in millions) Gross Accumulated Net December 31, 2018 Core deposit intangible $ 314 $ (93 ) $ 221 Customer relationship 182 (122 ) 60 Total other intangible assets $ 496 $ (215 ) $ 281 December 31, 2017 Core deposit intangible $ 325 $ (61 ) $ 264 Customer relationship 190 (108 ) 82 Total other intangible assets $ 515 $ (169 ) $ 346 |
Estimated amortization expense of other intangible assets | The estimated amortization expense of other intangible assets for the next five years is as follows: (dollar amounts in millions) Amortization Expense 2019 $ 49 2020 41 2021 38 2022 36 2023 34 |
PREMISES AND EQUIPMENT (Tables)
PREMISES AND EQUIPMENT (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property, plant and equipment | Premises and equipment were comprised of the following at December 31, 2018 and 2017 : At December 31, (dollar amounts in millions) 2018 2017 Land and land improvements $ 188 $ 193 Buildings 579 563 Leasehold improvements 199 240 Equipment 739 746 Total premises and equipment 1,705 1,742 Less accumulated depreciation and amortization (915 ) (878 ) Net premises and equipment $ 790 $ 864 |
Depreciation and amortization charged to expense and rental income credited to net occupancy expense | Depreciation and amortization charged to expense and rental income credited to net occupancy expense for the three years ended December 31, 2018 , 2017 , and 2016 were: (dollar amounts in millions) 2018 2017 2016 Total depreciation and amortization of premises and equipment $ 130 $ 123 $ 126 Rental income credited to occupancy expense 13 14 13 |
SHORT-TERM BORROWINGS (Tables)
SHORT-TERM BORROWINGS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following at December 31, 2018 and 2017 : At December 31, (dollar amounts in millions) 2018 2017 Federal funds purchased and securities sold under agreements to repurchase $ 2,004 $ 1,318 Federal Home Loan Bank advances — 3,725 Other borrowings 13 13 Total short-term borrowings $ 2,017 $ 5,056 |
LONG-TERM DEBT (Tables)
LONG-TERM DEBT (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Debt Instruments [Abstract] | |
Schedule of Long-Term Debt | Huntington’s long-term debt consisted of the following: At December 31, (dollar amounts in millions) 2018 2017 The Parent Company: Senior Notes: 3.19% Huntington Bancshares Incorporated medium-term notes due 2021 $ 969 $ 969 2.33% Huntington Bancshares Incorporated senior notes due 2022 946 953 4.00% Huntington Bancshares Incorporated senior notes due 2025 507 — 2.64% Huntington Bancshares Incorporated senior notes due 2018 — 399 Subordinated Notes: 7.00% Huntington Bancshares Incorporated subordinated notes due 2020 305 312 3.55% Huntington Bancshares Incorporated subordinated notes due 2023 239 245 Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 (1) 74 74 Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 (1) 72 72 Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 (2) 69 69 Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 (3) 31 31 Camco Financial Statutory Trust I 4.13% due 2037 (4) 4 4 Total notes issued by the parent 3,216 3,128 The Bank: Senior Notes: 3.55% Huntington National Bank senior notes due 2023 756 — 3.25% Huntington National Bank senior notes due 2021 750 — 2.47% Huntington National Bank senior notes due 2020 692 694 2.55% Huntington National Bank senior notes due 2022 672 685 2.23% Huntington National Bank senior notes due 2019 498 497 2.43% Huntington National Bank senior notes due 2020 493 498 2.97% Huntington National Bank senior notes due 2020 491 492 3.31% Huntington National Bank senior notes due 2020 (5) 300 300 2.24% Huntington National Bank senior notes due 2018 — 844 2.10% Huntington National Bank senior notes due 2018 — 748 1.75% Huntington National Bank senior notes due 2018 — 496 5.04% Huntington National Bank medium-term notes due 2018 — 35 Subordinated Notes: 3.86% Huntington National Bank subordinated notes due 2026 229 238 5.45% Huntington National Bank subordinated notes due 2019 76 77 6.67% Huntington National Bank subordinated notes due 2018 — 129 Total notes issued by the bank 4,957 5,733 FHLB Advances: 3.12% weighted average rate, varying maturities greater than one year 6 7 Other: Huntington Technology Finance nonrecourse debt, 4.19% effective interest rate, varying maturities 322 263 4.68% Huntington Preferred Capital II - Class F securities (6) 74 75 4.68% Huntington Preferred Capital II - Class G securities (6) 50 — Total other 446 338 Total long-term debt $ 8,625 $ 9,206 (1) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40% . (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70% (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625% . (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.33% . (5) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.51% (6) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.88% . The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements. A list of trust-preferred securities outstanding at December 31, 2018 follows: (dollar amounts in millions) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 3.50 % (2) $ 70 $ 6 Huntington Capital II 3.42 (3) 32 3 Sky Financial Capital Trust III 4.20 (4) 72 2 Sky Financial Capital Trust IV 4.20 (4) 74 2 Camco Financial Trust 4.13 (5) 4 1 Total $ 252 $ 14 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70 %. (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625 %. (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40 %. (5) Variable effective rate at December 31, 2018 , based on three month LIBOR + 1.33 %. |
Schedule of Maturities of Long-term Debt | Long-term debt maturities for the next five years and thereafter are as follows: (dollar amounts in millions) 2019 2020 2021 2022 2023 Thereafter Total The Parent Company: Senior notes $ — $ — $ 1,000 $ 1,000 $ — $ 500 $ 2,500 Subordinated notes — 300 — — 250 253 803 The Bank: Senior notes 500 2,000 750 700 750 — 4,700 Subordinated notes 76 — — — — 250 326 FHLB Advances 1 2 — 1 1 1 6 Other 16 74 85 163 108 — 446 Total $ 593 $ 2,376 $ 1,835 $ 1,864 $ 1,109 $ 1,004 $ 8,781 |
OTHER COMPREHENSIVE INCOME (Tab
OTHER COMPREHENSIVE INCOME (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income | The components of Huntington’s OCI in the three years ended December 31, 2018 , 2017 , and 2016 , were as follows: 2018 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Unrealized holding gains (losses) on available-for-sale debt securities $ (151 ) $ 35 $ (116 ) Less: Reclassification adjustment for net losses (gains) included in net income 41 (9 ) 32 Net change in unrealized holding gains (losses) on available-for-sale debt securities (110 ) 26 (84 ) Net change in pension and other post-retirement obligations 4 — 4 Total other comprehensive income (loss) $ (106 ) $ 26 $ (80 ) 2017 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 4 $ (2 ) $ 2 Unrealized holding gains (losses) on available-for-sale debt securities (87 ) 31 (56 ) Less: Reclassification adjustment for net losses (gains) included in net income 26 (9 ) 17 Net change in unrealized holding gains (losses) on available-for-sale debt securities (57 ) 20 (37 ) Net change in unrealized holding gains (losses) on available-for-sale equity securities 1 (1 ) — Unrealized gains (losses) on derivatives used in cash flow hedging relationships 3 (1 ) 2 Less: Reclassification adjustment for net (gains) losses included in net income 1 — 1 Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 4 (1 ) 3 Net change in pension and other post-retirement obligations — — — Total other comprehensive income (loss) $ (52 ) $ 18 $ (34 ) 2016 Tax (expense) (dollar amounts in millions) Pretax Benefit After-tax Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold $ 1 $ — $ 1 Unrealized holding gains (losses) on available-for-sale debt securities arising during the period (203 ) 70 (133 ) Less: Reclassification adjustment for net gains (losses) included in net income (107 ) 38 (69 ) Net change in unrealized holding gains (losses) on available-for-sale debt securities (309 ) 108 (201 ) Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period 2 (1 ) 1 Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships 2 (1 ) 1 Net change in pension and post-retirement obligations 38 (13 ) 25 Total other comprehensive income (loss) $ (269 ) $ 94 $ (175 ) |
Activity in Accumulated Other Comprehensive Income | Activity in accumulated OCI for the two years ended December 31, 2018 and 2017 were as follows: (dollar amounts in millions) Unrealized gains (losses) on debt securities (1) Unrealized gains (losses) on cash flow hedging derivatives Unrealized gains (losses) for pension and other post-retirement obligations Total December 31, 2016 $ (193 ) $ (3 ) $ (205 ) $ (401 ) Other comprehensive income before reclassifications (54 ) 2 (10 ) (62 ) Amounts reclassified from accumulated OCI to earnings 17 1 10 28 Period change (37 ) 3 — (34 ) TCJA, Reclassification from accumulated OCI to retained earnings (48 ) — (45 ) (93 ) December 31, 2017 (278 ) — (250 ) (528 ) Cumulative-effect adjustments (ASU 2016-01) (1 ) — — (1 ) Other comprehensive income before reclassifications (116 ) — — (116 ) Amounts reclassified from accumulated OCI to earnings 32 — 4 36 Period change (84 ) — 4 (80 ) December 31, 2018 $ (363 ) $ — $ (246 ) $ (609 ) (1) AOCI amounts at December 31, 2018 , 2017 , and 2016 include $137 million , $95 million , and $82 million of net unrealized losses (before any deferred tax benefits) 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 Consolidated Statements of Income for the years ended December 31, 2018 and 2017 : Reclassifications out of accumulated OCI Accumulated OCI components Amounts reclassified from accumulated OCI Location of net gain (loss) reclassified from accumulated OCI into earnings (dollar amounts in millions) 2018 2017 Gains (losses) on debt securities: Amortization of unrealized (losses) $ (13 ) $ (8 ) Interest income—held-to-maturity securities—taxable Realized (loss) on sale of securities (28 ) (14 ) Noninterest income—net gains (losses) on sale of securities OTTI recorded — (4 ) Noninterest income— I mpairment losses recognized in earnings on available-for-sale securities Total before tax (41 ) (26 ) Tax benefit 9 9 Net of tax $ (32 ) $ (17 ) Gains (losses) on cash flow hedging relationships: Interest rate contracts $ — $ (1 ) Interest and fee income—loans and leases Total before tax — (1 ) Tax benefit — — Net of tax $ — $ (1 ) Amortization of defined benefit pension and post-retirement items: Actuarial losses $ (13 ) $ (18 ) Noninterest income / expense (1) Net periodic benefit costs 4 2 Noninterest income / expense (1) Total before tax (9 ) (16 ) Tax benefit 2 6 Net of tax $ (7 ) $ (10 ) |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Basic and diluted earnings loss per share | The calculation of basic and diluted earnings per share for each of the three years ended December 31 was as follows: Year Ended December 31, (dollar amounts in millions, except per share data, share count in thousands) 2018 2017 2016 Basic earnings per common share: Net income $ 1,393 $ 1,186 $ 712 Preferred stock dividends (70 ) (76 ) (65 ) Net income available to common shareholders $ 1,323 $ 1,110 $ 647 Average common shares issued and outstanding 1,081,542 1,084,686 904,438 Basic earnings per common share $ 1.22 $ 1.02 $ 0.72 Diluted earnings per common share: Net income available to common shareholders $ 1,323 $ 1,110 $ 647 Effect of assumed preferred stock conversion — 31 — Net income applicable to diluted earnings per share $ 1,323 $ 1,141 $ 647 Average common shares issued and outstanding 1,081,542 1,084,686 904,438 Dilutive potential common shares Stock options and restricted stock units and awards 16,529 17,883 11,728 Shares held in deferred compensation plans 3,511 3,160 2,486 Dilutive impact of Preferred Stock 4,403 30,330 — Other — 127 138 Dilutive potential common shares 24,443 51,500 14,352 Total diluted average common shares issued and outstanding 1,105,985 1,136,186 918,790 Diluted earnings per common share $ 1.20 $ 1.00 $ 0.70 |
NONINTEREST INCOME (Tables)
NONINTEREST INCOME (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Non-interest Income | (dollar amounts in millions) Year Ended Noninterest income Noninterest income from contracts with customers $ 881 Noninterest income within the scope of other GAAP topics 440 Total noninterest income $ 1,321 (dollar amounts in millions) Year Ended December 31, 2018 Major Revenue Streams Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated Service charges on deposit accounts $ 290 $ 64 $ 5 $ 4 $ — $ 363 Card and payment processing income 198 11 — — — 209 Trust and investment management services 28 4 — 139 — 171 Insurance income 34 5 — 41 2 82 Other income 38 6 3 8 1 56 Net revenue from contracts with customers $ 588 $ 90 $ 8 $ 192 $ 3 $ 881 Noninterest income within the scope of other GAAP topics 150 223 2 1 64 440 Total noninterest income $ 738 $ 313 $ 10 $ 193 $ 67 $ 1,321 |
SHARE-BASED COMPENSATION (Table
SHARE-BASED COMPENSATION (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share based compensation expense and related tax benefit | The following table presents total share-based compensation expense and related tax benefit for the three years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) 2018 2017 2016 Share-based compensation expense $ 78 $ 92 $ 66 Tax benefit 14 32 22 |
Weighted average assumptions used in the option pricing model | The following table presents the weighted average assumptions used in the option-pricing model at the grant date for options granted in the three years ended December 31, 2018 , 2017 , and 2016 : Assumptions 2018 2017 2016 Risk-free interest rate 2.88 % 2.04 % 1.63 % Expected dividend yield 3.71 3.31 3.18 Expected volatility of Huntington’s common stock 24.0 29.5 30.0 Expected option term (years) 6.5 6.5 6.5 Weighted-average grant date fair value per share $ 2.58 $ 2.81 $ 2.17 |
Stock option activity and related information | Huntington’s stock option activity and related information for the year ended December 31, 2018 , was as follows: (dollar amounts in millions, except per share and options amounts in thousands) Options Weighted- Weighted-Average Contractual Life (Years) Aggregate Outstanding at January 1, 2018 13,918 $ 8.21 Granted 2,538 14.81 Exercised (5,775 ) 6.57 Forfeited/expired (64 ) 13.31 Outstanding at December 31, 2018 10,617 $ 10.64 5.4 $ 22 Expected to vest (1) 4,503 $ 13.36 8.6 $ 2 Exercisable at December 31, 2018 5,981 $ 8.52 3.0 $ 21 (1) The number of options expected to vest reflects an estimate of 133,000 shares expected to be forfeited. |
Schedule of restricted stock, restricted stock units, and performance shares | The following table summarizes the status of Huntington’s restricted stock awards, units, and performance share units as of December 31, 2018 , and activity for the year ended December 31, 2018 : Restricted Stock Awards Restricted Stock Units Performance Share Units (amounts in thousands, except per share amounts) Quantity Weighted- Average Grant Date Fair Value Per Share Quantity Weighted- Average Grant Date Fair Value Per Share Quantity Weighted- Average Grant Date Fair Value Per Share Nonvested at January 1, 2018 448 $ 9.68 16,159 $ 11.26 3,018 $ 10.67 Granted — — 4,743 15.01 691 14.81 Vested (227 ) 9.68 (4,948 ) 10.56 (719 ) 10.89 Forfeited (20 ) 9.68 (474 ) 12.32 (32 ) 12.27 Nonvested at December 31, 2018 201 $ 9.68 15,480 $ 12.51 2,958 $ 11.75 |
BENEFIT PLANS (Tables)
BENEFIT PLANS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |
Schedule of weighted-average assumptions used | The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2018 and 2017 , and the net periodic benefit cost for the years then ended: Pension Benefits 2018 2017 Weighted-average assumptions used to determine benefit obligations Discount rate 4.41 % 3.73 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 3.73 4.38 Expected return on plan assets 5.75 6.50 |
Schedule of changes in projected benefit obligation | The following table reconciles the beginning and ending balances of the benefit obligation of the Plan with the amounts recognized in the consolidated balance sheets at December 31: Pension Benefits (dollar amounts in millions) 2018 2017 Projected benefit obligation at beginning of measurement year $ 900 $ 851 Changes due to: Service cost 3 3 Interest cost 29 30 Benefits paid (26 ) (27 ) Settlements (18 ) (31 ) Actuarial assumptions and gains (losses) (67 ) 74 Total changes (79 ) 49 Projected benefit obligation at end of measurement year $ 821 $ 900 |
Schedule of changes in fair value of plan assets | The following table reconciles the beginning and ending balances of the fair value of Plan assets at the December 31, 2018 and 2017 measurement dates: Pension Benefits (dollar amounts in millions) 2018 2017 Fair value of plan assets at beginning of measurement year $ 903 $ 841 Changes due to: Actual return on plan assets (30 ) 118 Settlements (19 ) (29 ) Benefits paid (26 ) (27 ) Total changes (75 ) 62 Fair value of plan assets at end of measurement year $ 828 $ 903 |
Schedule of net periodic benefit costs | The following table shows the components of net periodic benefit costs recognized in the three years ended December 31, 2018 : Pension Benefits (1) (dollar amounts in millions) 2018 2017 2016 Service cost $ 3 $ 3 $ 5 Interest cost 29 30 30 Expected return on plan assets (49 ) (55 ) (45 ) Amortization of loss 9 7 7 Settlements 7 11 (8 ) Benefit costs $ (1 ) $ (4 ) $ (11 ) |
Schedule of allocation of plan assets | At December 31, 2018 and 2017 , The Huntington National Bank, as trustee, held all Plan assets. The Plan assets consisted of investments in a variety of corporate and government fixed income investments, money market funds, and mutual funds as follows: Fair Value (dollar amounts in millions) 2018 2017 Cash equivalents: Mutual funds-money market $ 4 — % $ 14 2 % U.S. Treasury bills 4 1 5 1 Fixed income: Corporate obligations 272 33 293 32 U.S. Government obligations 298 36 216 24 U.S. Government agencies 22 3 23 3 Equities: Mutual funds-equities 64 8 118 13 Common stock 98 12 158 17 Preferred stock 5 1 5 1 Exchange traded funds 45 5 58 6 Limited Partnerships 16 1 13 1 Fair value of plan assets $ 828 100 % $ 903 100 % |
Schedule of expected benefit payments | At December 31, 2018 , the following table shows when benefit payments were expected to be paid: (dollar amounts in millions) Pension Benefits 2019 $ 49 2020 49 2021 48 2022 48 2023 48 2024 through 2028 238 |
Schedule of amounts recognized in balance sheet | The following table presents the amounts recognized in the Consolidated Balance Sheets at December 31, 2018 and 2017 , for all defined benefit and nonqualified retirement plans: (dollar amounts in millions) 2018 2017 Other liabilities $ 63 $ 78 |
Schedule of amounts recognized in OCI | The following tables present the amounts recognized in OCI as of December 31, 2018 , 2017 , and 2016 , and the changes in accumulated OCI for the years ended December 31, 2018 , 2017 , and 2016 : (dollar amounts in millions) 2018 2017 2016 Net actuarial loss $ (257 ) $ (264 ) $ (217 ) Prior service cost 11 14 12 Defined benefit pension plans $ (246 ) $ (250 ) $ (205 ) 2018 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax Net actuarial (loss) gain: Amounts arising during the year $ (5 ) $ 2 $ (3 ) Amortization included in net periodic benefit costs 13 (3 ) 10 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (4 ) 1 (3 ) Total recognized in OCI $ 4 $ — $ 4 2017 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax (1) Net actuarial (loss) gain: Amounts arising during the year $ (16 ) $ 6 $ (10 ) Amortization included in net periodic benefit costs 18 (7 ) 11 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (2 ) 1 (1 ) Total recognized in OCI $ — $ — $ — (1) TCJA reclassification from AOCI to retained earnings recorded during 2017 was $45 million. 2016 (dollar amounts in millions) Pretax Tax (expense) Benefit After-tax Net actuarial (loss) gain: Amounts arising during the year $ 38 $ (13 ) $ 25 Amortization included in net periodic benefit costs 2 (1 ) 1 Prior service cost: Amounts arising during the year — — — Amortization included in net periodic benefit costs (2 ) 1 (1 ) Total recognized in OCI $ 38 $ (13 ) $ 25 |
Schedule of Huntington stock statistics for defined contribution plan | The following table shows the number of shares, market value, and dividends received on shares of Huntington stock held by the defined contribution plan: December 31, (dollar amounts in millions, share amounts in thousands) 2018 2017 Shares in Huntington common stock 11,635 13,566 Market value of Huntington common stock $ 139 $ 198 Dividends received on shares of Huntington stock 6 4 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Reconciliation of gross unrecognized tax benefits | The following table provides a reconciliation of the beginning and ending amounts of gross unrecognized tax benefits: (dollar amounts in millions) 2018 2017 Unrecognized tax benefits at beginning of year $ 50 $ 24 Gross increases for tax positions taken during prior years — 26 Gross decreases for tax positions taken during prior years (12 ) — Settlements with taxing authorities (38 ) — Unrecognized tax benefits at end of year $ — $ 50 |
Summary of provision (benefit) for income taxes | The following is a summary of the provision (benefit) for income taxes: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Current tax provision (benefit) Federal $ 152 $ 41 $ 40 State 20 (1 ) 3 Total current tax provision 172 40 43 Deferred tax provision (benefit) Federal 71 151 161 State (8 ) 17 4 Total deferred tax provision 63 168 165 Provision for income taxes $ 235 $ 208 $ 208 |
Reconcilement of provision (benefit) for income taxes | The following is a reconciliation for provision for income taxes: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Provision for income taxes computed at the statutory rate $ 342 $ 488 $ 322 Increases (decreases): Tax-exempt income (23 ) (31 ) (27 ) Tax-exempt bank owned life insurance income (14 ) (23 ) (20 ) General business credits (80 ) (71 ) (64 ) Capital loss (60 ) (67 ) (46 ) Impact from TCJA (3 ) (123 ) — Affordable housing investment amortization, net of tax benefits 64 46 37 State income taxes, net 10 11 5 Stock based compensation (14 ) (13 ) (4 ) Other 13 (9 ) 5 Provision for income taxes $ 235 $ 208 $ 208 |
Significant components of deferred tax assets and liabilities | The significant components of deferred tax assets and liabilities at December 31, were as follows: At December 31, (dollar amounts in millions) 2018 2017 Deferred tax assets: Allowances for credit losses $ 184 $ 162 Fair value adjustments 173 142 Net operating and other loss carryforward 95 108 Accrued expense/prepaid 16 17 Pension and other employee benefits 14 — Market discount 6 10 Partnership investments 5 7 Tax credit carryforward — 153 Other assets 6 6 Total deferred tax assets 499 605 Deferred tax liabilities: Lease financing 262 249 Loan origination costs 148 116 Operating assets 69 53 Mortgage servicing rights 45 39 Purchase accounting adjustments 25 68 Securities adjustments 6 6 Deferred dividend income — 77 Pension and other employee benefits — 5 Other liabilities 2 18 Total deferred tax liabilities 557 631 Net deferred tax (liability) asset before valuation allowance (58 ) (26 ) Valuation allowance (6 ) (6 ) Net deferred tax (liability) asset $ (64 ) $ (32 ) |
FAIR VALUES OF ASSETS AND LIA_2
FAIR VALUES OF ASSETS AND LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 at December 31, 2018 and 2017 are summarized below: 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 Fair Value Measurements at Reporting Date Using Netting Adjustments (1) December 31, 2017 (dollar amounts in millions) Level 1 Level 2 Level 3 Assets Trading account securities: Other securities 83 3 — — 86 83 3 — — 86 Available-for-sale securities: U.S. Treasury securities 5 — — — 5 Residential CMOs — 6,484 — — 6,484 Residential MBS 1,367 1,367 Commercial MBS 2,487 2,487 Other agencies — 70 — — 70 Municipal securities — 711 3,167 — 3,878 Asset-backed securities — 443 24 — 467 Corporate debt — 109 — — 109 Other securities/Sovereign debt — 2 — — 2 5 11,673 3,191 — 14,869 Other securities 19 — — — 19 Loans held for sale — 413 — — 413 Loans held for investment — 55 38 — 93 MSRs — — 11 — 11 Derivative assets — 316 6 (190 ) 132 Liabilities Derivative liabilities — 326 5 (245 ) 86 (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. |
Roll forward of derivatives measured on a recurring basis and classified as Level 3 | The tables below present a rollforward of the balance sheet amounts for the years ended December 31, 2018 , 2017 , and 2016 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 $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Transfers out of Level 3 (1) — (35 ) — — — Total gains/losses for the period: Included in earnings (1 ) 35 (3 ) (2 ) — Included in OCI — — (52 ) 11 — Purchases/originations — — 658 — — Sales — — — (33 ) — Repayments — — — — (8 ) Settlements — 3 (605 ) — — Closing balance $ 10 $ 2 $ 3,165 $ — $ 30 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 ) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ — $ — $ (52 ) $ — $ — 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 $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Transfers out of Level 3 (1) — (15 ) — — — Total gains/losses for the period: Included in earnings (3 ) 16 (2 ) (5 ) 1 Included in OCI — — (8 ) 14 — Purchases/originations — — 787 — — Sales — — — (60 ) — Repayments — — — — (11 ) Settlements — — (408 ) (1 ) — Closing balance $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (3 ) $ — $ — $ (4 ) $ — 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 $ 18 $ 6 $ 2,095 $ 100 $ 2 Transfers out of Level 3 (1) — (7 ) — — — Total gains/losses for the period: Included in earnings (4 ) (1 ) 7 (2 ) (2 ) Included in OCI — — (28 ) 6 — Purchases/originations — — 1,399 — 56 Sales — — (37 ) (25 ) — Repayments — — — — (8 ) Settlements — — (638 ) (3 ) — Closing balance $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (4 ) $ (1 ) $ (33 ) $ 4 $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2. |
Roll forward of assets 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 $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Transfers out of Level 3 (1) — (35 ) — — — Total gains/losses for the period: Included in earnings (1 ) 35 (3 ) (2 ) — Included in OCI — — (52 ) 11 — Purchases/originations — — 658 — — Sales — — — (33 ) — Repayments — — — — (8 ) Settlements — 3 (605 ) — — Closing balance $ 10 $ 2 $ 3,165 $ — $ 30 Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date $ (1 ) $ — $ — $ — $ — Change in unrealized gains or losses for the period included in other comprehensive income for assets held at the end of the reporting period $ — $ — $ (52 ) $ — $ — 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 $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Transfers out of Level 3 (1) — (15 ) — — — Total gains/losses for the period: Included in earnings (3 ) 16 (2 ) (5 ) 1 Included in OCI — — (8 ) 14 — Purchases/originations — — 787 — — Sales — — — (60 ) — Repayments — — — — (11 ) Settlements — — (408 ) (1 ) — Closing balance $ 11 $ (1 ) $ 3,167 $ 24 $ 38 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (3 ) $ — $ — $ (4 ) $ — 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 $ 18 $ 6 $ 2,095 $ 100 $ 2 Transfers out of Level 3 (1) — (7 ) — — — Total gains/losses for the period: Included in earnings (4 ) (1 ) 7 (2 ) (2 ) Included in OCI — — (28 ) 6 — Purchases/originations — — 1,399 — 56 Sales — — (37 ) (25 ) — Repayments — — — — (8 ) Settlements — — (638 ) (3 ) — Closing balance $ 14 $ (2 ) $ 2,798 $ 76 $ 48 Change in unrealized gains or losses for the period included in earnings (or changes in net assets) for assets held at end of the reporting date $ (4 ) $ (1 ) $ (33 ) $ 4 $ — (1) Transfers out of Level 3 represent the settlement value of the derivative instruments (i.e. interest rate lock agreements) that are transferred to loans held for sale, which is classified as Level 2. |
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 years ended December 31, 2018 , 2017 , and 2016 : 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 $ (1 ) $ 35 $ — $ — Securities gains (losses) — — — (2 ) Interest and fee income — — (3 ) — Total $ (1 ) $ 35 $ (3 ) $ (2 ) 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 Classification of gains and losses in earnings: Mortgage banking income $ (3 ) $ 16 $ — $ — $ — Securities gains (losses) — — — (5 ) — Interest and fee income — — (2 ) — — Noninterest income — — — — 1 Total $ (3 ) $ 16 $ (2 ) $ (5 ) $ 1 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 Classification of gains and losses in earnings: Mortgage banking income (loss) $ (4 ) $ (1 ) $ — $ — $ — Securities gains (losses) — — 1 (2 ) — Noninterest income — — 6 — (2 ) Total $ (4 ) $ (1 ) $ 7 $ (2 ) $ (2 ) |
Assets and liabilities under the fair value option | The following table presents the fair value and aggregate principal balance of certain assets and liabilities under the fair value option: December 31, 2018 Total Loans Loans that are 90 or more days past due (dollar amounts in millions) Fair value Aggregate Difference Fair value Aggregate Difference Assets Loans held for sale $ 613 $ 594 $ 19 $ — $ — $ — Loans held for investment 79 87 (8 ) 6 7 (1 ) December 31, 2017 Total Loans Loans that are 90 or more days past due (dollar amounts in millions) Fair value Aggregate Difference Fair value Aggregate Difference Assets Loans held for sale $ 413 $ 400 $ 13 $ 1 $ 1 $ — Loans held for investment 93 102 $ (9 ) 10 11 $ (1 ) The following tables present the net gains (losses) from fair value changes for the years ended December 31, 2018 , 2017 , and 2016 : Net gains (losses) from fair value changes Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Assets Loans held for sale $ 5 $ 8 $ 7 Loans held for investment — — — |
Assets measured at fair value on a nonrecurring basis | at fair value on a nonrecurring basis at December 31, 2018 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 Impaired loans 33 — — 33 (1 ) Other real estate owned 20 — — 20 (7 ) Loans held for sale 145 — — 145 (11 ) |
Quantitative information about significant unobservable level 3 fair value measurement inputs | 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 December 31, 2018 and 2017 : 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 — % - 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 Other real estate owned 20 Appraisal value NA NA Loans held for sale 121 Discounted cash flow Discount rate 5 % 6 % 5 % 24 Appraisal value NA N/A Quantitative Information about Level 3 Fair Value Measurements at December 31, 2017 (dollar amounts in millions) Fair Value Valuation Technique Significant Unobservable Input Range Weighted Average Measured at fair value on a recurring basis: MSRs $ 11 Discounted cash flow Constant prepayment rate 8 % - 33 % 12 % Spread over forward interest rate swap rates 8 % - 10 % 8 % Derivative assets 6 Consensus Pricing Net market price (5 )% - 20 % 2 % Estimated Pull through % 3 % - 100 % 75 % Derivative liabilities 5 Discounted cash flow Estimated conversion factor 165 % Estimated growth rate of Visa Class A shares 7 % Discount rate 3 % Timing of the resolution of the litigation 12/31/2017 - 06/30/2020 Municipal securities 3,167 Discounted cash flow Discount rate — % - 10 % 4 % Cumulative default — % - 64 % 3 % Loss given default 5 % - 90 % 24 % Asset-backed securities 24 Discounted cash flow Discount rate 7 % 7 % 7 % Cumulative prepayment rate — % 72 % 7 % Cumulative default 3 % 53 % 7 % Loss given default 90 % 100 % 98 % Cure given deferral 50 % 50 % 50 % Loans held for investment 38 Discounted cash flow Discount rate 7 % - 18 % 8 % Constant prepayment rate 2 % - 22 % 9 % |
Fair value by balance sheet grouping | The following table provides the carrying amounts and estimated fair values of Huntington’s financial instruments at December 31, 2018 and December 31, 2017 : 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 December 31, 2017 (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 1,567 — — $ 1,567 $ 1,567 Trading account securities — — 86 86 86 Available-for-sale securities — — 14,869 14,869 14,869 Held-to-maturity securities 9,091 — — 9,091 8,971 Other securities 581 — 19 600 600 Loans held for sale — 75 413 488 491 Net loans and leases (1) 69,333 — 93 69,426 69,146 Derivatives — — 132 132 132 Financial Liabilities Deposits 77,041 — — 77,041 77,010 Short-term borrowings 5,056 — — 5,056 5,056 Long-term debt 9,206 — — 9,206 9,402 Derivatives — — 86 86 86 (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 December 31, 2018 and December 31, 2017 : 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 Estimated Fair Value Measurements at Reporting Date Using December 31, 2017 (dollar amounts in millions) Level 1 Level 2 Level 3 Financial Assets Trading account securities $ 83 $ 3 $ — $ 86 Available-for-sale securities 5 11,673 3,191 14,869 Held-to-maturity securities — 8,971 — 8,971 Other securities (1) 19 — — 19 Loans held for sale — 413 78 491 Net loans and direct financing leases — — 69,146 69,146 Financial Liabilities Deposits — 73,975 3,035 77,010 Short-term borrowings — — 5,056 5,056 Long-term debt — 8,944 458 9,402 (1) Excludes securities without readily determinable fair values. |
DERIVATIVE FINANCIAL INSTRUME_2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
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 December 31, 2018 and December 31, 2017 , identified by the underlying interest rate-sensitive instruments: 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 December 31, 2017 (dollar amounts in millions) Fair Value Hedges Cash Flow Hedges Total Instruments associated with: Long-term debt 8,375 — 8,375 Total notional value at December 31, 2017 $ 8,375 $ — $ 8,375 |
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 used in Huntington’s asset and liability management activities at December 31, 2018 and December 31, 2017 : December 31, 2018 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value 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 % December 31, 2017 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value Fair Value Receive Pay Liability conversion swaps Receive fixed—generic 8,375 2.5 (99 ) 1.56 % 1.44 % Total swap portfolio at December 31, 2017 $ 8,375 2.5 $ (99 ) |
Asset and liability derivatives included in accrued income and other assets | December 31, 2018 December 31, 2017 (dollar amounts in millions) Asset Liability Asset Liability Derivatives designated as Hedging Instruments Interest rate contracts $ 44 $ 42 $ 22 $ 121 Derivatives not designated as Hedging Instruments Interest rate contracts 261 165 187 100 Foreign exchange contracts 23 19 18 18 Commodities contracts 172 168 92 87 Equity contracts — 10 3 5 Total Contracts $ 500 $ 404 $ 322 $ 331 |
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: Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Interest rate contracts Change in fair value of interest rate swaps hedging long-term debt (1) 112 (53 ) (122 ) Change in fair value of hedged long term debt (1) (104 ) 54 112 (1) Recognized in Interest expense— long-term debt in the Consolidated Statements of Income. |
Gains and (losses) recognized in other comprehensive income (loss) (OCI) for derivatives designated as effective cash flow hedges | Location of Gain or (Loss) Recognized in Income on Derivative Amount of Gain or (Loss) Recognized in Income on Derivative (dollar amounts in millions) Year Ended December 31, Interest rate contracts: Customer Capital markets fees $ 41 Mortgage Banking Mortgage banking income (19 ) Foreign exchange contracts Capital markets fees 27 Commodities contracts Capital markets fees 6 Equity contracts Other noninterest expense 4 Total $ 59 |
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 Consolidated Balance Sheets at December 31, 2018 and December 31, 2017 : Offsetting of Derivative Assets Gross amounts offset in the consolidated balance sheets Net amounts of assets presented in the consolidated balance sheets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized assets Financial instruments Cash collateral received Net amount December 31, 2018 Derivatives $ 500 $ (291 ) $ 209 $ (4 ) $ (53 ) $ 152 December 31, 2017 Derivatives 322 (190 ) 132 (11 ) (18 ) 103 |
Offsetting of financial liabilities and derivative liabilities | Offsetting of Derivative Liabilities Gross amounts offset in the consolidated balance sheets Net amounts of liabilities presented in the consolidated balance sheets Gross amounts not offset in the condensed consolidated balance sheets (dollar amounts in millions) Gross amounts of recognized liabilities Financial instruments Cash collateral delivered Net amount December 31, 2018 Derivatives $ 404 $ (217 ) $ 187 $ — $ (12 ) $ 175 December 31, 2017 Derivatives 331 (245 ) 86 — (21 ) 65 |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Carrying Amount of the Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment To Hedged Liabilities (dollar amounts in millions) December 31, 2018 December 31, 2018 Long-term debt $ 4,845 $ (12 ) The cumulative amount of fair value hedging adjustments remaining for any hedged assets and liabilities for which hedge accounting has been discontinued is $(127) million at December 31, 2018 . |
VIEs (Tables)
VIEs (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 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 December 31, 2018 , and 2017 : 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 December 31, 2017 (dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss Trust Preferred Securities 14 252 — Affordable Housing Tax Credit Partnerships 636 335 636 Other Investments 125 53 125 Total $ 775 $ 640 $ 761 |
Summary of outstanding trust preferred securities | Huntington’s long-term debt consisted of the following: At December 31, (dollar amounts in millions) 2018 2017 The Parent Company: Senior Notes: 3.19% Huntington Bancshares Incorporated medium-term notes due 2021 $ 969 $ 969 2.33% Huntington Bancshares Incorporated senior notes due 2022 946 953 4.00% Huntington Bancshares Incorporated senior notes due 2025 507 — 2.64% Huntington Bancshares Incorporated senior notes due 2018 — 399 Subordinated Notes: 7.00% Huntington Bancshares Incorporated subordinated notes due 2020 305 312 3.55% Huntington Bancshares Incorporated subordinated notes due 2023 239 245 Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 (1) 74 74 Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 (1) 72 72 Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 (2) 69 69 Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 (3) 31 31 Camco Financial Statutory Trust I 4.13% due 2037 (4) 4 4 Total notes issued by the parent 3,216 3,128 The Bank: Senior Notes: 3.55% Huntington National Bank senior notes due 2023 756 — 3.25% Huntington National Bank senior notes due 2021 750 — 2.47% Huntington National Bank senior notes due 2020 692 694 2.55% Huntington National Bank senior notes due 2022 672 685 2.23% Huntington National Bank senior notes due 2019 498 497 2.43% Huntington National Bank senior notes due 2020 493 498 2.97% Huntington National Bank senior notes due 2020 491 492 3.31% Huntington National Bank senior notes due 2020 (5) 300 300 2.24% Huntington National Bank senior notes due 2018 — 844 2.10% Huntington National Bank senior notes due 2018 — 748 1.75% Huntington National Bank senior notes due 2018 — 496 5.04% Huntington National Bank medium-term notes due 2018 — 35 Subordinated Notes: 3.86% Huntington National Bank subordinated notes due 2026 229 238 5.45% Huntington National Bank subordinated notes due 2019 76 77 6.67% Huntington National Bank subordinated notes due 2018 — 129 Total notes issued by the bank 4,957 5,733 FHLB Advances: 3.12% weighted average rate, varying maturities greater than one year 6 7 Other: Huntington Technology Finance nonrecourse debt, 4.19% effective interest rate, varying maturities 322 263 4.68% Huntington Preferred Capital II - Class F securities (6) 74 75 4.68% Huntington Preferred Capital II - Class G securities (6) 50 — Total other 446 338 Total long-term debt $ 8,625 $ 9,206 (1) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40% . (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70% (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625% . (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.33% . (5) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.51% (6) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.88% . The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements. A list of trust-preferred securities outstanding at December 31, 2018 follows: (dollar amounts in millions) Rate Principal amount of subordinated note/ debenture issued to trust (1) Investment in unconsolidated subsidiary Huntington Capital I 3.50 % (2) $ 70 $ 6 Huntington Capital II 3.42 (3) 32 3 Sky Financial Capital Trust III 4.20 (4) 72 2 Sky Financial Capital Trust IV 4.20 (4) 74 2 Camco Financial Trust 4.13 (5) 4 1 Total $ 252 $ 14 (1) Represents the principal amount of debentures issued to each trust, including unamortized original issue discount. (2) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.70 %. (3) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 0.625 %. (4) Variable effective rate at December 31, 2018 , based on three-month LIBOR + 1.40 %. (5) Variable effective rate at December 31, 2018 , based on three month LIBOR + 1.33 %. |
COMMITMENTS AND CONTINGENT LI_2
COMMITMENTS AND CONTINGENT LIABILITIES (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contract amounts of various commitments to extend credit | The contract amounts of these financial agreements at December 31, 2018 , and December 31, 2017 were as follows: At December 31, (dollar amounts in millions) 2018 2017 Contract amount representing credit risk Commitments to extend credit: Commercial $ 17,149 $ 16,219 Consumer 14,974 13,384 Commercial real estate 1,188 1,366 Standby letters of credit 676 510 Commercial letters-of-credit 14 21 |
OTHER REGULATORY MATTERS (Table
OTHER REGULATORY MATTERS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Banking and Thrift [Abstract] | |
Period-end capital amounts and capital ratios | Minimum Minimum Basel III Regulatory Ratio+Capital Well- December 31, Capital Conservation Capitalized 2018 2017 (dollar amounts in millions) Ratios Buffer Minimums Ratio Amount Ratio Amount CET 1 risk-based capital Consolidated 4.50 6.375 % N/A 9.65 8,271 10.01 8,041 Bank 4.50 6.375 6.50 10.19 8,732 11.02 8,856 Tier 1 risk-based capital Consolidated 6.00 7.875 6.00 11.06 9,478 11.34 9,110 Bank 6.00 7.875 8.00 11.21 9,611 12.10 9,727 Total risk-based capital Consolidated 8.00 9.875 10.00 12.98 11,122 13.39 10,757 Bank 8.00 9.875 10.00 13.42 11,504 14.33 11,517 Tier 1 leverage Consolidated 4.00 % N/A N/A 9.10 % $ 9,478 9.09 % $ 9,110 Bank 4.00 N/A 5.00 % 9.23 9,611 9.70 9,727 |
PARENT COMPANY FINANCIAL STAT_2
PARENT COMPANY FINANCIAL STATEMENTS (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Condensed Financial Information Disclosure [Abstract] | |
Balance Sheets | The parent-only financial statements, which include transactions with subsidiaries, are as follows: Balance Sheets December 31, (dollar amounts in millions) 2018 2017 Assets Cash and due from banks $ 2,352 $ 1,618 Due from The Huntington National Bank 739 798 Due from non-bank subsidiaries 40 58 Investment in The Huntington National Bank 11,493 11,696 Investment in non-bank subsidiaries 142 111 Accrued interest receivable and other assets 239 252 Total assets $ 15,005 $ 14,533 Liabilities and shareholders’ equity Long-term borrowings $ 3,216 $ 3,128 Dividends payable, accrued expenses, and other liabilities 687 591 Total liabilities 3,903 3,719 Shareholders’ equity (1) 11,102 10,814 Total liabilities and shareholders’ equity $ 15,005 $ 14,533 (1) See Consolidated Statements of Changes in Shareholders’ Equity. |
Statements of Income | Statements of Income Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Income Dividends from: The Huntington National Bank $ 1,722 $ 298 $ 188 Non-bank subsidiaries — 14 11 Interest from: The Huntington National Bank 27 20 14 Non-bank subsidiaries 2 2 3 Other (2 ) 4 — Total income 1,749 338 216 Expense Personnel costs 2 19 12 Interest on borrowings 124 91 59 Other 118 115 123 Total expense 244 225 194 Income before income taxes and equity in undistributed net income of subsidiaries 1,505 113 22 Provision (benefit) for income taxes (48 ) (56 ) (56 ) Income before equity in undistributed net income of subsidiaries 1,553 169 78 Increase (decrease) in undistributed net income (loss) of: The Huntington National Bank (186 ) 1,015 629 Non-bank subsidiaries 26 2 5 Net income $ 1,393 $ 1,186 $ 712 Other comprehensive income (loss) (1) (80 ) (34 ) (175 ) Comprehensive income $ 1,313 $ 1,152 $ 537 (1) See Consolidated Statements of Comprehensive Income for other comprehensive income (loss) detail. |
Statements of Cash Flows | Statements of Cash Flows Year Ended December 31, (dollar amounts in millions) 2018 2017 2016 Operating activities Net income $ 1,393 $ 1,186 $ 712 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries 197 (997 ) (634 ) Depreciation and amortization (2 ) 4 (1 ) Other, net 121 (37 ) (24 ) Net cash (used for) provided by operating activities 1,709 156 53 Investing activities Repayments from subsidiaries 21 442 464 Advances to subsidiaries (13 ) (29 ) (1,758 ) Proceeds from sale of securities available-for-sale — 1 (2 ) Cash paid for acquisitions, net of cash received (15 ) — (133 ) Net cash (used for) provided by investing activities (7 ) 414 (1,429 ) Financing activities Net proceeds from issuance of medium-term notes 501 — — Net proceeds from issuance of long-term borrowings — — 1,990 Payment of medium-term notes (400 ) — — Payment of long-term debt — — (65 ) Dividends paid on common stock (584 ) (425 ) (299 ) Repurchases of common stock (939 ) (260 ) — Net proceeds from issuance of preferred stock 495 — 585 Other, net (41 ) (20 ) 1 Net cash provided by (used for) financing activities (968 ) (705 ) 2,212 Increase (decrease) in cash and cash equivalents 734 (135 ) 836 Cash and cash equivalents at beginning of year 1,618 1,753 917 Cash and cash equivalents at end of year $ 2,352 $ 1,618 $ 1,753 Supplemental disclosure: Interest paid $ 126 $ 90 $ 36 |
SEGMENT REPORTING (Tables)
SEGMENT REPORTING (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Financial Information | Listed below is certain financial information reconciled to Huntington’s December 31, 2018 , December 31, 2017 , and December 31, 2016 , reported results by business segment: Income Statements (dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated 2018 Net interest income $ 1,685 $ 938 $ 403 $ 192 $ (29 ) $ 3,189 Provision (benefit) for credit losses 141 38 55 1 — 235 Noninterest income 738 313 10 193 67 1,321 Noninterest expense 1,696 513 149 250 39 2,647 Provision (benefit) for income taxes 123 147 44 28 (107 ) 235 Net income (loss) $ 463 $ 553 $ 165 $ 106 $ 106 $ 1,393 2017 Net interest income $ 1,549 $ 901 $ 424 $ 172 $ (44 ) $ 3,002 Provision (benefit) for credit losses 108 30 63 — — 201 Noninterest income 735 278 14 188 92 1,307 Noninterest expense 1,647 474 149 243 201 2,714 Provision (benefit) for income taxes 185 236 79 41 (333 ) 208 Net income (loss) $ 344 $ 439 $ 147 $ 76 $ 180 $ 1,186 2016 Net interest income $ 1,224 $ 717 $ 344 $ 153 $ (69 ) $ 2,369 Provision (benefit) for credit losses 68 79 47 (3 ) — 191 Noninterest income 649 245 15 177 64 1,150 Noninterest expense 1,339 397 118 229 325 2,408 Provision (benefit) for income taxes 163 170 68 36 (229 ) 208 Net income (loss) $ 303 $ 316 $ 126 $ 68 $ (101 ) $ 712 |
Segment Disclosure of Assets and Deposits | Assets at December 31, Deposits at December 31, (dollar amounts in millions) 2018 2017 2018 2017 Consumer & Business Banking $ 27,486 $ 26,262 $ 50,300 $ 45,427 Commercial Banking 34,818 32,067 23,185 21,286 Vehicle Finance 19,435 17,865 346 381 RBHPCG 6,540 5,829 6,809 6,202 Treasury / Other 20,502 22,162 4,134 3,745 Total $ 108,781 $ 104,185 $ 84,774 $ 77,041 |
QUARTERLY RESULTS OF OPERATIO_2
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of quarterly results of operations | The following is a summary of the quarterly results of operations, for the years ended December 31, 2018 and 2017 : Three Months Ended December 31, September 30, June 30, March 31, (dollar amounts in millions, except per share data) 2018 2018 2018 2018 Interest income $ 1,056 $ 1,007 $ 972 $ 914 Interest expense 223 205 188 144 Net interest income 833 802 784 770 Provision for credit losses 60 53 56 66 Noninterest income 329 342 336 314 Noninterest expense 711 651 652 633 Income before income taxes 391 440 412 385 Provision for income taxes 57 62 57 59 Net income 334 378 355 326 Dividends on preferred shares 19 18 21 12 Net income applicable to common shares $ 315 $ 360 $ 334 $ 314 Net income per common share — Basic $ 0.30 $ 0.33 $ 0.30 $ 0.29 Net income per common share — Diluted 0.29 0.33 0.30 0.28 Three Months Ended December 31, September 30, June 30, March 31, (dollar amounts in millions, except per share data) 2017 2017 2017 2017 Interest income $ 894 $ 873 $ 846 $ 820 Interest expense 124 115 101 91 Net interest income 770 758 745 729 Provision for credit losses 65 43 25 68 Noninterest income 340 330 325 312 Noninterest expense 633 680 694 707 Income before income taxes 412 365 351 266 Provision (benefit) for income taxes (20 ) 90 79 59 Net income 432 275 272 207 Dividends on preferred shares 19 19 19 19 Net income applicable to common shares $ 413 $ 256 $ 253 $ 188 Net income per common share — Basic $ 0.38 $ 0.24 $ 0.23 $ 0.17 Net income per common share — Diluted 0.37 0.23 0.23 0.17 |
SIGNIFICANT ACCOUNTING POLICI_3
SIGNIFICANT ACCOUNTING POLICIES - Loans and Leases (Details) | 12 Months Ended |
Dec. 31, 2018USD ($)reservecomponent | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Allowance number of reserves | reserve | 2 |
Allowance number of components of reserve | component | 2 |
Commercial Portfolio Segment [Member] | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold period past due for nonperforming status | 90 days |
Threshold past due for write-off | 90 days |
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000 |
CRE | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold period past due for nonperforming status | 90 days |
Threshold past due for write-off | 90 days |
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000 |
Home Equity | First-lien home equity loan | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold period past due for nonperforming status | 150 days |
Threshold past due for write-off | 150 days |
Home Equity | Junior-lien home equity loan | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold past due for write-off | 120 days |
Automobile | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold past due for write-off | 120 days |
Consumer | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold past due for write-off | 120 days |
Residential Mortgage | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |
Threshold period past due for nonperforming status | 150 days |
Threshold past due for write-off | 150 days |
SIGNIFICANT ACCOUNTING POLICI_4
SIGNIFICANT ACCOUNTING POLICIES - Property, Plant, and Equipment (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Buildings | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 30 years |
Buildings | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 40 years |
Building Improvements | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 10 years |
Building Improvements | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 30 years |
Land Improvements | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 5 years |
Land Improvements | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 20 years |
Equipment | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 3 years |
Equipment | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 10 years |
Furniture and Fixtures | Minimum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 5 years |
Furniture and Fixtures | Maximum | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment useful life | 20 years |
LOANS AND LEASES AND ALLOWANC_3
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Modifications, Effect of Modification | $ (15,000,000) | $ (13,000,000) | |||
Transfer of Portfolio Loans and Leases to Held-for-sale | $ 121,000,000 | 301,000,000 | (12,000,000) | $ 123,000,000 | |
Loans Receivable, Gross, Commercial and Industrial | 30,605,000,000 | 30,605,000,000 | 28,107,000,000 | ||
Loans net premium | 428,000,000 | 428,000,000 | 334,000,000 | ||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||
Future lease rental payments due | 1,700,000,000 | 1,700,000,000 | |||
Future lease rental payments due, in 2016 | 600,000,000 | 600,000,000 | |||
Future lease rental payments due, in 2017 | 400,000,000 | 400,000,000 | |||
Future lease rental payments due, in 2018 | 300,000,000 | 300,000,000 | |||
Future lease rental payments due, in 2019 | 200,000,000 | 200,000,000 | |||
Future lease rental payments due, in 2020 | 100,000,000 | 100,000,000 | |||
Future lease rental payments due, after 2020 | 100,000,000 | 100,000,000 | |||
Allowance for loan and lease losses | 772,000,000 | 772,000,000 | 691,000,000 | 638,000,000 | $ 598,000,000 |
Interest income under original terms for NAL loans | 22,000,000 | 21,000,000 | 24,000,000 | ||
Interest income recorded for NAL loans | 12,000,000 | 18,000,000 | 17,000,000 | ||
Interest income under original terms for TDR loans | 51,000,000 | 49,000,000 | 49,000,000 | ||
Interest income recorded for TDR loans | 48,000,000 | 45,000,000 | 40,000,000 | ||
Amount of security for borrowing and advances | 46,500,000,000 | 46,500,000,000 | 31,700,000,000 | ||
Consumer loans | 79,000,000 | 79,000,000 | 93,000,000 | ||
Loans Receivable, Gross, Commercial, Real Estate | 6,842,000,000 | 6,842,000,000 | 7,225,000,000 | ||
Loans and Leases Receivable, Gross, Automobile | 12,429,000,000 | 12,429,000,000 | 12,100,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 9,722,000,000 | 9,722,000,000 | 10,099,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 10,728,000,000 | 10,728,000,000 | 9,026,000,000 | ||
Loans Receivable, Gross, Recreation Finance | 3,254,000,000 | 3,254,000,000 | 2,438,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Other | 1,320,000,000 | 1,320,000,000 | 1,122,000,000 | ||
Loans and Leases Receivable, Gross | 74,900,000,000 | 74,900,000,000 | 70,117,000,000 | ||
Loans and Leases Receivable, Net Amount | 74,128,000,000 | 74,128,000,000 | 69,426,000,000 | ||
Commercial Portfolio Segment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Receivable, Gross, Commercial and Industrial | 30,605,000,000 | 30,605,000,000 | 28,107,000,000 | ||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||
Allowance for loan and lease losses | 542,000,000 | 542,000,000 | 482,000,000 | 451,000,000 | 399,000,000 |
Threshold outstanding balance for quarterly impairment evaluation | $ 1,000,000 | ||||
Threshold period past due for nonperforming status | 90 days | ||||
Loans Receivable, Gross, Commercial, Real Estate | 6,842,000,000 | $ 6,842,000,000 | 7,225,000,000 | ||
Consumer | |||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||
Allowance for loan and lease losses | 230,000,000 | 230,000,000 | 209,000,000 | $ 187,000,000 | $ 199,000,000 |
Loans and Leases Receivable, Gross, Automobile | 12,429,000,000 | 12,429,000,000 | 12,099,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Home Equity | 9,720,000,000 | 9,720,000,000 | 10,097,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Mortgage | 10,650,000,000 | 10,650,000,000 | 8,937,000,000 | ||
Loans and Leases Receivable, Gross, Consumer, Other | 1,320,000,000 | 1,320,000,000 | 1,122,000,000 | ||
Home Equity | Consumer | |||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||
Consumer loans | 1,000,000 | 1,000,000 | 2,000,000 | ||
Loans and Leases Receivable, Gross | 9,722,000,000 | 9,722,000,000 | 10,099,000,000 | ||
Residential Mortgage | Consumer | |||||
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||||
Consumer loans | 78,000,000 | 78,000,000 | 89,000,000 | ||
Loans and Leases Receivable, Gross | $ 10,728,000,000 | $ 10,728,000,000 | $ 9,026,000,000 |
LOANS AND LEASES AND ALLOWANC_4
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Direct Financing Leases (Details) - Commercial Portfolio Segment [Member] - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Lease payments receivable | $ 1,747 | $ 1,645 |
Estimated residual value of leased assets | 726 | 755 |
Gross investment in commercial lease financing receivables | 2,473 | 2,400 |
Deferred origination costs | 20 | 18 |
Deferred fees | (250) | (225) |
Total net investment in commercial lease financing receivables | $ 2,243 | $ 2,193 |
LOANS AND LEASES AND ALLOWANC_5
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Certain Loans Acquired Ending and Unpaid Balances (Details) $ in Millions | Dec. 31, 2017USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | $ 41 |
Commercial and Industrial | Commercial Portfolio Segment [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 39 |
Commercial Real Estate | Commercial Portfolio Segment [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 2 |
Automobile | Consumer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 0 |
Home Equity | Consumer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 0 |
Residential Mortgage | Consumer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 0 |
RV and marine finance | Consumer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | 0 |
Consumer | Consumer | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Acquired loans, carrying amount | $ 0 |
LOANS AND LEASES AND ALLOWANC_6
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Nonaccrual Loans by Loan Class (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 340 | $ 349 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 188 | 161 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 15 | 29 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 5 | 6 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 62 | 68 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 69 | 84 |
Consumer | RV and marine finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | 1 | 1 |
Consumer | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total nonaccrual loans | $ 0 | $ 0 |
LOANS AND LEASES AND ALLOWANC_7
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - NALs Past Due (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | $ 774 | $ 714 |
Loans and leases, current | 74,047 | 69,269 |
Loans and Leases Receivable, Gross | 74,900 | 70,117 |
90 or more days past due and accruing | 170 | 115 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 41 | |
Consumer loans | 79 | 93 |
30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 362 | 335 |
60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 114 | 108 |
90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 298 | 271 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 140 | 114 |
Loans and leases, current | 30,465 | 27,954 |
Loans and Leases Receivable, Gross | 30,605 | 28,107 |
90 or more days past due and accruing | 7 | 9 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 39 | |
Consumer loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 72 | 35 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 17 | 14 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 51 | 65 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 15 | 22 |
Loans and leases, current | 6,827 | 7,201 |
Loans and Leases Receivable, Gross | 6,842 | 7,225 |
90 or more days past due and accruing | 0 | 3 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2 | |
Consumer loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 10 | 10 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 0 | 1 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 5 | 11 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 124 | 117 |
Loans and leases, current | 12,305 | 11,982 |
Loans and Leases Receivable, Gross | 12,429 | 12,100 |
90 or more days past due and accruing | 8 | 7 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | |
Consumer loans | 0 | 1 |
Consumer | Automobile | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 95 | 89 |
Consumer | Automobile | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 19 | 18 |
Consumer | Automobile | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 10 | 10 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 128 | 128 |
Loans and leases, current | 9,593 | 9,969 |
Loans and Leases Receivable, Gross | 9,722 | 10,099 |
90 or more days past due and accruing | 17 | 18 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | |
Consumer loans | 1 | 2 |
Consumer | Home Equity | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 51 | 49 |
Consumer | Home Equity | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 21 | 19 |
Consumer | Home Equity | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 56 | 60 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 323 | 295 |
Loans and leases, current | 10,327 | 8,642 |
Loans and Leases Receivable, Gross | 10,728 | 9,026 |
90 or more days past due and accruing | 131 | 72 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | |
Consumer loans | 78 | 89 |
Consumer | Residential Mortgage | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 108 | 129 |
Consumer | Residential Mortgage | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 47 | 48 |
Consumer | Residential Mortgage | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 168 | 118 |
Consumer | RV and marine finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 17 | 16 |
Loans and leases, current | 3,237 | 2,421 |
Loans and Leases Receivable, Gross | 3,254 | 2,438 |
90 or more days past due and accruing | 1 | 1 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | |
Consumer loans | 0 | 1 |
Consumer | RV and marine finance | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 12 | 11 |
Consumer | RV and marine finance | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 3 | 3 |
Consumer | RV and marine finance | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 2 | 2 |
Consumer | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 27 | 22 |
Loans and leases, current | 1,293 | 1,100 |
Loans and Leases Receivable, Gross | 1,320 | 1,122 |
90 or more days past due and accruing | 6 | 5 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | |
Consumer loans | 0 | 0 |
Consumer | Consumer | 30-59 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 14 | 12 |
Consumer | Consumer | 60-89 Days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | 7 | 5 |
Consumer | Consumer | 90 or more days | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, past due | $ 6 | $ 5 |
LOANS AND LEASES AND ALLOWANC_8
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
ALLL balance beginning of period | $ 691 | $ 638 | $ 598 |
Loan charge-offs | (268) | (252) | (227) |
Recoveries of loans previously charged-off | 123 | 93 | 118 |
Provision for loan and lease losses | (226) | (212) | (169) |
Allowance for loans sold or transferred to loans held for sale | (20) | ||
ALLL balance end of period | 772 | 691 | 638 |
AULC balance beginning of period | 87 | 98 | 72 |
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | (9) | (11) | (22) |
AULC balance end of period | 96 | 87 | 98 |
ACL balance end of period | 868 | 778 | 736 |
Additions to Unfunded Loan Commitments and Letters of Credit Allowance | 4 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
ALLL balance beginning of period | 482 | 451 | 399 |
Loan charge-offs | (79) | (72) | (92) |
Recoveries of loans previously charged-off | 65 | 41 | 73 |
Provision for loan and lease losses | (74) | (62) | (85) |
Allowance for loans sold or transferred to loans held for sale | (14) | ||
ALLL balance end of period | 542 | 482 | 451 |
AULC balance beginning of period | 84 | 87 | 64 |
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | (10) | 3 | (19) |
AULC balance end of period | 94 | 84 | 87 |
ACL balance end of period | 636 | 566 | 538 |
Additions to Unfunded Loan Commitments and Letters of Credit Allowance | 4 | ||
Consumer | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
ALLL balance beginning of period | 209 | 187 | 199 |
Loan charge-offs | (189) | (180) | (135) |
Recoveries of loans previously charged-off | 58 | 52 | 45 |
Provision for loan and lease losses | (152) | (150) | (84) |
Allowance for loans sold or transferred to loans held for sale | 6 | ||
ALLL balance end of period | 230 | 209 | 187 |
AULC balance beginning of period | 3 | 11 | 8 |
Provision (reduction in allowance) for unfunded loan commitments and letters of credit | 1 | 8 | (3) |
AULC balance end of period | 2 | 3 | 11 |
ACL balance end of period | $ 232 | $ 212 | 198 |
Additions to Unfunded Loan Commitments and Letters of Credit Allowance | $ 0 |
LOANS AND LEASES AND ALLOWANC_9
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | $ 30,605 | $ 28,107 |
Commercial real estate loans | 6,842 | 7,225 |
Automobile loans | 12,429 | 12,100 |
Home equity loans | 9,722 | 10,099 |
Residential mortgage loans | 10,728 | 9,026 |
Other consumer loans | 1,320 | 1,122 |
Commercial Portfolio Segment [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | 30,605 | 28,107 |
Commercial real estate loans | 6,842 | 7,225 |
Commercial Portfolio Segment [Member] | Pass | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | 28,807 | 26,268 |
Commercial real estate loans | 6,586 | 6,909 |
Commercial Portfolio Segment [Member] | OLEM | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | 518 | 694 |
Commercial real estate loans | 181 | 200 |
Commercial Portfolio Segment [Member] | Substandard | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | 1,269 | 1,116 |
Commercial real estate loans | 74 | 115 |
Commercial Portfolio Segment [Member] | Doubtful | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial loans and leases | 11 | 29 |
Commercial real estate loans | 1 | 1 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile loans | 12,429 | 12,099 |
Home equity loans | 9,720 | 10,097 |
Residential mortgage loans | 10,650 | 8,937 |
Loans and Leases Receivable, Gross, Consumer, Recreation Finance | 3,254 | 2,437 |
Other consumer loans | 1,320 | 1,122 |
Consumer | FICO Score, Greater than 750 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile loans | 6,254 | 6,102 |
Home equity loans | 6,098 | 6,352 |
Residential mortgage loans | 7,159 | 5,697 |
Loans and Leases Receivable, Gross, Consumer, Recreation Finance | 2,074 | 1,433 |
Other consumer loans | 501 | 428 |
Consumer | 650-749 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile loans | 4,520 | 4,312 |
Home equity loans | 2,975 | 3,024 |
Residential mortgage loans | 2,801 | 2,581 |
Loans and Leases Receivable, Gross, Consumer, Recreation Finance | 990 | 863 |
Other consumer loans | 633 | 540 |
Consumer | 650 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile loans | 1,373 | 1,390 |
Home equity loans | 591 | 617 |
Residential mortgage loans | 612 | 605 |
Loans and Leases Receivable, Gross, Consumer, Recreation Finance | 105 | 96 |
Other consumer loans | 129 | 143 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Automobile loans | 282 | 295 |
Home equity loans | 56 | 104 |
Residential mortgage loans | 78 | 54 |
Loans and Leases Receivable, Gross, Consumer, Recreation Finance | 85 | 45 |
Other consumer loans | $ 57 | $ 11 |
LOANS AND LEASES AND ALLOWAN_10
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - ALLL Attributable to Loans by Portfolio Segment (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Attributable to loans collectively evaluated for impairment | $ 729 | $ 650 | ||
Attributable to loans individually evaluated for impairment | 43 | 41 | ||
Total ALLL balance: | 772 | 691 | $ 638 | $ 598 |
Collectively evaluated for impairment | 73,714 | 68,760 | ||
Financing Receivable Evaluated For Impairment | 74,821 | 70,024 | ||
Individually evaluated for impairment | 1,107 | 1,223 | ||
Purchase credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | 41 | |||
Commercial Portfolio Segment [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Attributable to loans collectively evaluated for impairment | 509 | 450 | ||
Attributable to loans individually evaluated for impairment | 33 | 32 | ||
Total ALLL balance: | 542 | 482 | 451 | 399 |
Collectively evaluated for impairment | 36,931 | 34,684 | ||
Financing Receivable Evaluated For Impairment | 37,447 | 35,332 | ||
Individually evaluated for impairment | 516 | 607 | ||
Commercial Portfolio Segment [Member] | Purchase credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | 41 | |||
Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Attributable to loans collectively evaluated for impairment | 220 | 200 | ||
Attributable to loans individually evaluated for impairment | 10 | 9 | ||
Total ALLL balance: | 230 | 209 | $ 187 | $ 199 |
Collectively evaluated for impairment | 36,783 | 34,076 | ||
Financing Receivable Evaluated For Impairment | 37,374 | 34,692 | ||
Individually evaluated for impairment | $ 591 | 616 | ||
Consumer | Purchase credit-impaired | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Collectively evaluated for impairment | $ 0 |
LOANS AND LEASES AND ALLOWAN_11
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - Impaired Loans (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with no related allowance, ending balance | $ 224 | $ 284 |
Impaired loans and leases with no related allowance, unpaid principle | 261 | 311 |
Impaired loans and leases with no related allowance, average balance | 256 | 206 |
Impaired loans and leases with no related allowance, interest income recognized | 22 | 12 |
Impaired loans and leases with an allowance recorded, ending balance | 221 | 257 |
Impaired loans and leases with an allowance recorded, unpaid principle | 240 | 280 |
Impaired loans and leases with an allowance recorded, related allowance | 31 | 29 |
Impaired Financing Receivable, Average Recorded Investment | 528 | 498 |
Impaired loans and leases with an allowance recorded, average balance | 272 | 292 |
Impaired loans and leases with an allowance recorded, interest income recognized | 11 | 16 |
Considered impaired due to TDR status | 366 | 382 |
Impaired Financing Receivable, Recorded Investment | 445 | 541 |
Impaired Financing Receivable, Unpaid Principal Balance | 501 | 591 |
Impaired Financing Receivable, Interest Income, Accrual Method | 33 | 28 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with no related allowance, ending balance | 36 | 56 |
Impaired loans and leases with no related allowance, unpaid principle | 45 | 81 |
Impaired loans and leases with no related allowance, average balance | 47 | 64 |
Impaired loans and leases with no related allowance, interest income recognized | 8 | 8 |
Impaired loans and leases with an allowance recorded, ending balance | 35 | 51 |
Impaired loans and leases with an allowance recorded, unpaid principle | 39 | 51 |
Impaired loans and leases with an allowance recorded, related allowance | 2 | 3 |
Impaired Financing Receivable, Average Recorded Investment | 92 | 116 |
Impaired loans and leases with an allowance recorded, average balance | 45 | 52 |
Impaired loans and leases with an allowance recorded, interest income recognized | 2 | 2 |
Considered impaired due to TDR status | 60 | 93 |
Impaired Financing Receivable, Recorded Investment | 71 | 107 |
Impaired Financing Receivable, Unpaid Principal Balance | 84 | 132 |
Impaired Financing Receivable, Interest Income, Accrual Method | 10 | 10 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with an allowance recorded, ending balance | 38 | 36 |
Impaired loans and leases with an allowance recorded, unpaid principle | 42 | 40 |
Impaired loans and leases with an allowance recorded, related allowance | 2 | 2 |
Impaired Financing Receivable, Average Recorded Investment | 37 | 33 |
Impaired loans and leases with an allowance recorded, average balance | 37 | 33 |
Impaired loans and leases with an allowance recorded, interest income recognized | 2 | 2 |
Impaired Financing Receivable, Recorded Investment | 38 | 36 |
Impaired Financing Receivable, Unpaid Principal Balance | 42 | 40 |
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 2 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with an allowance recorded, ending balance | 314 | 334 |
Impaired loans and leases with an allowance recorded, unpaid principle | 356 | 385 |
Impaired loans and leases with an allowance recorded, related allowance | 10 | 14 |
Impaired Financing Receivable, Average Recorded Investment | 326 | 329 |
Impaired loans and leases with an allowance recorded, average balance | 326 | 329 |
Impaired loans and leases with an allowance recorded, interest income recognized | 14 | 15 |
Impaired Financing Receivable, Recorded Investment | 314 | 334 |
Impaired Financing Receivable, Unpaid Principal Balance | 356 | 385 |
Impaired Financing Receivable, Interest Income, Accrual Method | 14 | 15 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with an allowance recorded, ending balance | 287 | 308 |
Impaired loans and leases with an allowance recorded, unpaid principle | 323 | 338 |
Impaired loans and leases with an allowance recorded, related allowance | 4 | 4 |
Impaired Financing Receivable, Average Recorded Investment | 297 | 325 |
Impaired loans and leases with an allowance recorded, average balance | 297 | 325 |
Impaired loans and leases with an allowance recorded, interest income recognized | 11 | 12 |
Impaired Financing Receivable, Recorded Investment | 287 | 308 |
Impaired Financing Receivable, Unpaid Principal Balance | 323 | 338 |
Impaired Financing Receivable, Interest Income, Accrual Method | 11 | 12 |
Consumer | RV and marine finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with an allowance recorded, ending balance | 2 | 2 |
Impaired loans and leases with an allowance recorded, unpaid principle | 3 | 3 |
Impaired loans and leases with an allowance recorded, related allowance | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 2 | 1 |
Impaired loans and leases with an allowance recorded, average balance | 2 | 1 |
Impaired loans and leases with an allowance recorded, interest income recognized | 0 | 0 |
Impaired Financing Receivable, Recorded Investment | 2 | 2 |
Impaired Financing Receivable, Unpaid Principal Balance | 3 | 3 |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 |
Consumer | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Impaired loans and leases with an allowance recorded, ending balance | 9 | 8 |
Impaired loans and leases with an allowance recorded, unpaid principle | 9 | 8 |
Impaired loans and leases with an allowance recorded, related allowance | 3 | 2 |
Impaired Financing Receivable, Average Recorded Investment | 8 | 5 |
Impaired loans and leases with an allowance recorded, average balance | 8 | 5 |
Impaired loans and leases with an allowance recorded, interest income recognized | 0 | 0 |
Impaired Financing Receivable, Recorded Investment | 9 | 8 |
Impaired Financing Receivable, Unpaid Principal Balance | 9 | 8 |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 0 | $ 0 |
LOANS AND LEASES AND ALLOWAN_12
LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES - TDRs (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2018USD ($)contract | Dec. 31, 2017USD ($)contract | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 6,391 | 6,745 |
Post-modification Outstanding Balance (2) | $ 539 | $ 853 |
Financial effects of modification | 15 | 13 |
Amount of security for borrowing and advances | 46,500 | 31,700 |
Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 8 | 3 |
Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 508 | 817 |
Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 23 | 27 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 6 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 725 | 1,047 |
Post-modification Outstanding Balance (2) | $ 352 | $ 601 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 1 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 352 | 600 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial and Industrial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 102 | 111 |
Post-modification Outstanding Balance (2) | $ 82 | $ 122 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 82 | 122 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Commercial Portfolio Segment [Member] | Commercial Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 0 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 2,867 | 2,741 |
Post-modification Outstanding Balance (2) | $ 23 | $ 23 |
Consumer | Automobile | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Consumer | Automobile | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 15 | 15 |
Consumer | Automobile | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 8 | 8 |
Consumer | Automobile | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 0 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 602 | 922 |
Post-modification Outstanding Balance (2) | $ 36 | $ 50 |
Consumer | Home Equity | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 2 |
Consumer | Home Equity | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 25 | 33 |
Consumer | Home Equity | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 11 | 11 |
Consumer | Home Equity | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 4 |
Consumer | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 345 | 453 |
Post-modification Outstanding Balance (2) | $ 37 | $ 49 |
Consumer | Residential Mortgage | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Consumer | Residential Mortgage | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 34 | 40 |
Consumer | Residential Mortgage | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 3 | 7 |
Consumer | Residential Mortgage | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 2 |
Consumer | RV and marine finance | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 117 | 131 |
Post-modification Outstanding Balance (2) | $ 1 | $ 2 |
Consumer | RV and marine finance | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Consumer | RV and marine finance | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 1 |
Consumer | RV and marine finance | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 1 | 1 |
Consumer | RV and marine finance | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 0 |
Consumer | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | contract | 1,633 | 1,340 |
Post-modification Outstanding Balance (2) | $ 8 | $ 6 |
Consumer | Consumer | Interest rate reduction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 8 | 0 |
Consumer | Consumer | Amortization or maturity date change | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 6 |
Consumer | Consumer | Chapter 7 bankruptcy | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | 0 | 0 |
Consumer | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Post-modification Outstanding Balance (2) | $ 0 | $ 0 |
INVESTMENT SECURITIES AND OTH_3
INVESTMENT SECURITIES AND OTHER SECURITIES - Schedule of Amortized Cost, Fair Value, and Gross Unrelaized Gains(Losses) (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 14,108,000,000 | $ 15,127,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 31,000,000 | 28,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (359,000,000) | (286,000,000) |
Debt Securities, Available-for-sale | 13,780,000,000 | 14,869,000,000 |
Debt Securities, Held-to-maturity | 8,565,000,000 | 9,091,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 2,000,000 | 4,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (281,000,000) | (124,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 8,286,000,000 | 8,971,000,000 |
Equity Securities, FV-NI, Cost | 564,000,000 | 600,000,000 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 1 | 0 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 565,000,000 | 600,000,000 |
U.S. Treasury securities | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 5,000,000 | 5,000,000 |
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 | 5,000,000 | 5,000,000 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 7,185,000,000 | 6,661,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 15,000,000 | 1,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (201,000,000) | (178,000,000) |
Debt Securities, Available-for-sale | 6,999,000,000 | 6,484,000,000 |
Debt Securities, Held-to-maturity | 2,124,000,000 | 3,714,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 1,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (47,000,000) | (58,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 2,077,000,000 | 3,657,000,000 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,261,000,000 | 1,371,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 9,000,000 | 1,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (15,000,000) | (5,000,000) |
Debt Securities, Available-for-sale | 1,255,000,000 | 1,367,000,000 |
Debt Securities, Held-to-maturity | 1,851,000,000 | 1,049,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 2,000,000 | 2,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (42,000,000) | (7,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 1,811,000,000 | 1,044,000,000 |
Commercial Mortgage Backed Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 1,641,000,000 | 2,539,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (58,000,000) | (52,000,000) |
Debt Securities, Available-for-sale | 1,583,000,000 | 2,487,000,000 |
Debt Securities, Held-to-maturity | 4,235,000,000 | 3,791,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 0 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (186,000,000) | (55,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 4,049,000,000 | 3,736,000,000 |
Other Federal Agencies [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 128,000,000 | 69,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 1,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2,000,000) | 0 |
Debt Securities, Available-for-sale | 126,000,000 | 70,000,000 |
Debt Securities, Held-to-maturity | 350,000,000 | 532,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 0 | 1,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (6,000,000) | (4,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 344,000,000 | 529,000,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 10,220,000,000 | 10,645,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 24,000,000 | 3,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (276,000,000) | (235,000,000) |
Debt Securities, Available-for-sale | 9,968,000,000 | 10,413,000,000 |
Debt Securities, Held-to-maturity | 8,560,000,000 | 9,086,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 2,000,000 | 4,000,000 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | (281,000,000) | (124,000,000) |
Debt Securities, Held-to-maturity, Fair Value | 8,281,000,000 | 8,966,000,000 |
Municipal securities | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 3,512,000,000 | 3,892,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 6,000,000 | 21,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (78,000,000) | (35,000,000) |
Debt Securities, Available-for-sale | 3,440,000,000 | 3,878,000,000 |
Debt Securities, Held-to-maturity | 5,000,000 | 5,000,000 |
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 | 5,000,000 | 5,000,000 |
Asset-backed securities | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 318,000,000 | 482,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,000,000 | 1,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (4,000,000) | (16,000,000) |
Debt Securities, Available-for-sale | 315,000,000 | 467,000,000 |
Corporate debt | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 54,000,000 | 106,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 3,000,000 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1,000,000) | 0 |
Debt Securities, Available-for-sale | 53,000,000 | 109,000,000 |
Other Securities | ||
Schedule of investment securities and other securities [Line Items] | ||
Debt Securities, Available-for-sale, Amortized Cost | 4,000,000 | 2,000,000 |
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 | 4,000,000 | 2,000,000 |
Mutual Fund [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 20,000,000 | 18,000,000 |
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 | 20,000,000 | 18,000,000 |
Equity Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 1,000,000 | 1,000,000 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Gain, before Tax | 1 | 0 |
Equity Securities, FV-NI, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 |
Equity Securities, FV-NI | 2,000,000 | 1,000,000 |
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 | 248,000,000 | 287,000,000 |
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 | 248,000,000 | 287,000,000 |
Investment in Federal Reserve Stock [Member] | Nonmarketable Equity Securities [Member] | ||
Schedule of investment securities and other securities [Line Items] | ||
Equity Securities, FV-NI, Cost | 295,000,000 | 294,000,000 |
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 | $ 295,000,000 | $ 294,000,000 |
INVESTMENT SECURITIES AND OTH_4
INVESTMENT SECURITIES AND OTHER SECURITIES - Contractual Maturities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Investments, Debt and Equity Securities [Abstract] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | $ 186 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 185 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 1,057 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 1,039 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 1,838 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 1,802 | |
Debt Securities, Available-for-sale, Allocated and Single Maturity Date, Maturity, after 10 Years, Amortized Cost | 11,027 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 10,754 | |
Debt Securities, Available-for-sale, Amortized Cost | 14,108 | $ 15,127 |
Debt Securities, Available-for-sale | 13,780 | 14,869 |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 0 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 11 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 11 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 362 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 356 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Amortized Cost | 8,192 | |
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, after 10 Years, Fair Value | 7,919 | |
Debt Securities, Held-to-maturity | 8,565 | 9,091 |
Debt Securities, Held-to-maturity, Fair Value | $ 8,286 | $ 8,971 |
INVESTMENT SECURITIES AND OTH_5
INVESTMENT SECURITIES AND OTHER SECURITIES - Continuous Unrealized Loss Position (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 2,254 | $ 5,545 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 35 | 61 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 9,679 | 6,728 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 324 | 225 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 11,933 | 12,273 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 359 | 286 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 141 | 7,048 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (84) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 7,711 | 1,416 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (279) | (40) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 7,852 | 8,464 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (281) | (124) |
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 | 425 | 1,660 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3 | 19 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 5,943 | 4,520 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 198 | 159 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 6,368 | 6,180 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 201 | 178 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 12 | 2,369 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (26) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 2,004 | 1,019 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (47) | (32) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 2,016 | 3,388 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (47) | (58) |
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 | 259 | 1,078 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 6 | 5 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 319 | 11 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 9 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 578 | 1,089 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 15 | 5 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 16 | 974 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (7) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 1,457 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (42) | 0 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 1,473 | 974 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (42) | (7) |
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 | 10 | 960 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 15 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,573 | 1,527 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 58 | 37 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,583 | 2,487 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 58 | 52 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 3,456 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (49) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 4,041 | 253 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (186) | (6) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 4,041 | 3,709 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (186) | (55) |
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 | 0 | 39 |
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 | 124 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 124 | 39 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2 | 0 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 113 | 249 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (2) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 205 | 139 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (4) | (2) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 318 | 388 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (6) | (4) |
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 | 694 | 3,737 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 9 | 39 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 7,959 | 6,058 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 267 | 196 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 8,653 | 9,795 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 276 | 235 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 141 | 7,048 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (84) |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 7,707 | 1,411 |
Debt Securities, Held-to-maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (279) | (40) |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value | 7,848 | 8,459 |
Debt Securities, Held-to-maturity, Unrealized Loss Position, Accumulated Loss | (281) | (124) |
Municipal securities | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,425 | 1,681 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 24 | 21 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,602 | 497 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 54 | 14 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 3,027 | 2,178 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 78 | 35 |
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 | 4 | 5 |
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 | 5 |
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 | 95 | 127 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2 | 1 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 117 | 173 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2 | 15 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 212 | 300 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 4 | $ 16 |
Corporate debt | ||
Investment securities and other securities disclosure [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 40 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1 | |
Debt Securities, Available-for-sale, Unrealized Loss Position | 41 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 1 |
INVESTMENT SECURITIES AND OTH_6
INVESTMENT SECURITIES AND OTHER SECURITIES - Realized Securities Gains (Losses) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |||
Available-for-sale Securities, Gross Realized Gains | $ 7 | $ 10 | $ 23 |
Available-for-sale Securities, Gross Realized Losses | (28) | (10) | (21) |
Debt and Equity Securities, Gain (Loss) | (21) | 0 | 2 |
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net, Available-for-sale Securities | 0 | (4) | (2) |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ (21) | $ (4) | $ 0 |
INVESTMENT SECURITIES AND OTH_7
INVESTMENT SECURITIES AND OTHER SECURITIES (Details) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Investments, Debt and Equity Securities [Abstract] | |
Held to Maturity Securities Transferred to Available for Sale Securities Upon Adoption of ASU | $ 3,000,000,000 |
Unrealized Net Losses Recognized In OCI At Time Of Transfer Of Held To Maturity Securities To Available For Sale Securities | 26,000,000 |
Available for Sale Securities Transferred to Held to Maturity Securities Upon Adoption of ASU | 3,000,000,000 |
Unrealized Net Losses Recognized In OCI At Time Of Transfer Of Available For Sale Securities Transferred To Held To Maturity Securities | 56,000,000 |
Pledged Financial Instruments, Not Separately Reported, Securities for Other Debt Facilities | 5,000,000,000 |
Other-than-temporary Impairment Loss, Debt Securities, Portion Recognized in Earnings | 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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Servicing Asset at Fair Value, Other Changes in Fair Value | $ 10 | $ 11 | |
Servicing Asset at Fair Value, Period Increase (Decrease) | 1 | 3 | |
Servicing, late and other ancillary fees included in mortgage banking income | 60 | 56 | $ 50 |
Unpaid principal balance of third party serviced loans | $ 21,000 | $ 19,800 | $ 18,900 |
MORTGAGE LOAN SALES AND SERVI_4
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio (Details) - Residential Mortgage - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items] | |||
Residential mortgage loans sold with servicing retained | $ 3,846 | $ 3,985 | $ 3,632 |
Pretax gains resulting from above loan sales | $ 87 | $ 99 | $ 97 |
MORTGAGE LOAN SALES AND SERVI_5
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio, MSRs Amortization Method (Details) - Residential Mortgage - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||
Carrying value, beginning of year | $ 191 | $ 172 |
New servicing assets created | 44 | 44 |
Impairment recovery (charge) | (6) | (1) |
Amortization and other | (30) | (26) |
Carrying value, end of year | 211 | 191 |
Fair value, end of year | $ 212 | $ 191 |
Sensitivity Analysis Amortization Carrying Method | ||
Servicing Asset at Amortized Cost, Balance [Roll Forward] | ||
Weighted-average life (years) | 6 years 8 months | 7 years 1 month |
MORTGAGE LOAN SALES AND SERVI_6
MORTGAGE LOAN SALES AND SERVICING RIGHTS - Residential Mortgage Portfolio, MSRs Amortization Method Assumptions (Details) - Residential Mortgage - Sensitivity Analysis Amortization Carrying Method - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items] | ||
Constant prepayment rate (annualized) | 9.40% | 8.30% |
Constant prepayment rate (annualized), Decline in fair value due to 10% adverse change | $ 0 | $ 0 |
Constant prepayment rate (annualized), Decline in fair value due to 20% adverse change | $ 0 | $ 0 |
Spread over forward interest rate swap rates | 9.00% | 10.00% |
Spread over forward interest rate swap rates, Decline in fair value due to 10% adverse change | $ 0 | $ 0 |
Spread over forward interest rate swap rates, Decline in fair value due to 20% adverse change | $ 0 | $ 0 |
GOODWILL AND OTHER INTANGIBLE_3
GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill by business segment | ||
Beginning Balance | $ 1,993,000 | $ 1,993,000 |
Goodwill acquired during the period | 1,000 | |
Adjustments | 5,000 | 0 |
Impairment | 0 | 0 |
Ending Balance | 1,989,000 | 1,993,000 |
Operating Segments | Consumer & Business Banking | ||
Goodwill by business segment | ||
Beginning Balance | 1,398,000 | 1,398,000 |
Goodwill acquired during the period | 0 | |
Adjustments | (5,000) | 0 |
Ending Balance | 1,393,000 | 1,398,000 |
Operating Segments | Commercial Banking | ||
Goodwill by business segment | ||
Beginning Balance | 425,000 | 453,000 |
Goodwill acquired during the period | 1,000 | |
Adjustments | 0 | (28,000) |
Ending Balance | 426,000 | 425,000 |
Operating Segments | Vehicle Finance | ||
Goodwill by business segment | ||
Beginning Balance | 0 | 0 |
Goodwill acquired during the period | 0 | |
Adjustments | 0 | 0 |
Ending Balance | 0 | 0 |
Operating Segments | RBHPCG | ||
Goodwill by business segment | ||
Beginning Balance | 170,000 | 142,000 |
Goodwill acquired during the period | 0 | |
Adjustments | 0 | 28,000 |
Ending Balance | 170,000 | 170,000 |
Treasury / Other | ||
Goodwill by business segment | ||
Beginning Balance | 0 | 0 |
Goodwill acquired during the period | 0 | |
Adjustments | 0 | 0 |
Ending Balance | $ 0 | $ 0 |
GOODWILL AND OTHER INTANGIBLE_4
GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | |||
Goodwill | $ 1,989 | $ 1,993 | $ 1,993 |
Total other intangible assets, gross carrying amount | 496 | 515 | |
Total other intangible assets, accumulated amortization | (215) | (169) | |
Total other intangible assets, net of carrying value | 281 | 346 | |
Goodwill, Other Increase (Decrease) | (5) | 0 | |
Core deposit intangible | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total other intangible assets, gross carrying amount | 314 | 325 | |
Total other intangible assets, accumulated amortization | (93) | (61) | |
Total other intangible assets, net of carrying value | 221 | 264 | |
Customer relationship | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total other intangible assets, gross carrying amount | 182 | 190 | |
Total other intangible assets, accumulated amortization | (122) | (108) | |
Total other intangible assets, net of carrying value | $ 60 | $ 82 |
GOODWILL AND OTHER INTANGIBLE_5
GOODWILL AND OTHER INTANGIBLE ASSETS - Future Amortization of Intangible Assets (Details) $ in Millions | Dec. 31, 2018USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,016 | $ 0 |
2,017 | 0 |
2,018 | 0 |
2,019 | 0 |
2,020 | $ 0 |
GOODWILL AND OTHER INTANGIBLE_6
GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) $ in Thousands | Oct. 01, 2018USD ($) | Dec. 31, 2018USD ($)segments | Dec. 31, 2018USD ($)segments | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||||
Goodwill, Other Increase (Decrease) | $ (5,000) | $ 0 | |||
Number of Reportable Segments | segments | 4 | 4 | |||
Goodwill | $ 1,989,000 | $ 1,989,000 | 1,993,000 | $ 1,993,000 | |
Other intangible assets | $ 281,000 | 281,000 | 346,000 | ||
Goodwill acquired during the period | 1,000 | ||||
Impairment of goodwill | $ 0 | $ 0 | |||
Hutchinson, Shockey, Erley & Co [Member] | |||||
Business Acquisition [Line Items] | |||||
Goodwill acquired during the period | $ 1,000 |
PREMISES AND EQUIPMENT (Details
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Premises and equipment, gross | $ 1,705 | $ 1,742 | |
Less accumulated depreciation and amortization | (915) | (878) | |
Net premises and equipment | 790 | 864 | |
Property Plant and Equipment Income Statement Disclosures [Abstract] | |||
Total depreciation and amortization of premises and equipment | 130 | 123 | $ 126 |
Rental income credited to occupancy expense | 13 | 14 | $ 13 |
Land and land improvements | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Premises and equipment, gross | 188 | 193 | |
Buildings | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Premises and equipment, gross | 579 | 563 | |
Leasehold improvements | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Premises and equipment, gross | 199 | 240 | |
Equipment | |||
Property, Plant and Equipment, Net, by Type [Abstract] | |||
Premises and equipment, gross | $ 739 | $ 746 |
SHORT-TERM BORROWINGS (Details)
SHORT-TERM BORROWINGS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Short-term Debt [Line Items] | ||
Total short-term borrowings | $ 2,017 | $ 5,056 |
Federal funds purchased and securities sold under agreements to repurchase | ||
Short-term Debt [Line Items] | ||
Total short-term borrowings | 2,004 | 1,318 |
Federal Home Loan Bank advances | ||
Short-term Debt [Line Items] | ||
Total short-term borrowings | 0 | 3,725 |
Other borrowings | ||
Short-term Debt [Line Items] | ||
Total short-term borrowings | $ 13 | $ 13 |
LONG-TERM DEBT - Schedule of Lo
LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 8,625 | $ 8,625 | $ 9,206 |
Subordinated Notes | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | 4,957 | 4,957 | 5,733 |
Subordinated Notes | 3.86% Huntington National Bank subordinated notes due 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 229 | $ 229 | 238 |
Stated rate | 3.86% | 3.86% | |
Subordinated Notes | 5.45% Huntington National Bank subordinated notes due 2019 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 76 | $ 76 | 77 |
Stated rate | 5.45% | 5.45% | |
Subordinated Notes | 6.67% Huntington National Bank subordinated notes due 2026 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | 129 |
Stated rate | 6.67% | 6.67% | |
Senior Notes | 3.55% Huntington National Bank senior notes due 2023 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 756 | $ 756 | 0 |
Stated rate | 3.55% | 3.55% | |
Senior Notes | 3.25% Huntington National Bank senior notes due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 750 | $ 750 | 0 |
Stated rate | 3.25% | 3.25% | |
Senior Notes | 2.47% Huntington National Bank senior notes due 2020 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 692 | $ 692 | 694 |
Stated rate | 2.47% | 2.47% | |
Senior Notes | 2.55% Huntington National Bank senior notes due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 672 | $ 672 | 685 |
Stated rate | 2.50% | 2.50% | |
Senior Notes | 2.23% Huntington National Bank senior note due 2019 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 498 | $ 498 | 497 |
Stated rate | 2.23% | 2.23% | |
Senior Notes | 2.43% Huntington National Bank senior notes due 2020 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 493 | $ 493 | 498 |
Stated rate | 2.43% | 2.43% | |
Senior Notes | 2.97% Huntington National Bank senior notes due 2020 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 491 | $ 491 | 492 |
Stated rate | 2.97% | 2.97% | |
Senior Notes | 3.31% Huntington National Bank senior notes due 2020 (5) | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 300 | $ 300 | 300 |
Effective rate | 3.31% | 3.31% | |
Senior Notes | 2.24% Huntington National Bank senior notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | 844 |
Stated rate | 2.24% | 2.24% | |
Senior Notes | 2.10% Huntington National Bank senior notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | 748 |
Stated rate | 2.10% | 2.10% | |
Senior Notes | 1.75% Huntington National Bank senior notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | 496 |
Stated rate | 1.75% | 1.75% | |
Senior Notes | 5.04% Huntington National Bank medium-term notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | 35 |
Federal Home Loan Bank advances | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | 6 | 6 | 7 |
Other borrowings | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 446 | $ 446 | 338 |
Other borrowings | Federal Home Loan Bank advances | |||
Debt Instrument [Line Items] | |||
Effective rate | 3.12% | 3.12% | |
Other borrowings | Huntington Technology Finance nonrecourse debt, 4.19% effective interest rate, varying maturities | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 322 | $ 322 | 263 |
Effective rate | 4.19% | 4.19% | |
Other borrowings | 4.68% Huntington Preferred Capital II - Class F securities | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 74 | $ 74 | 75 |
Effective rate | 4.68% | 4.68% | |
Other borrowings | 4.68% Huntington Preferred Capital II - Class G securities | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 50 | $ 50 | 0 |
Effective rate | 4.68% | 4.68% | |
Other borrowings | London Interbank Offered Rate (LIBOR) [Member] | 4.68% Huntington Preferred Capital II - Class F securities | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.88% | ||
Parent Company | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 3,216 | $ 3,216 | 3,128 |
Parent Company | Subordinated Notes | 7.00% Huntington Bancshares Incorporated subordinated notes due 2020 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 305 | $ 305 | 312 |
Stated rate | 7.00% | 7.00% | |
Parent Company | Subordinated Notes | 3.55% Huntington Bancshares Incorporated subordinated notes due 2023 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 239 | $ 239 | 245 |
Stated rate | 3.55% | 3.55% | |
Parent Company | Subordinated Notes | Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 74 | $ 74 | 74 |
Effective rate | 4.20% | 4.20% | |
Parent Company | Subordinated Notes | Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 72 | $ 72 | 72 |
Effective rate | 4.20% | 4.20% | |
Parent Company | Subordinated Notes | Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 69 | $ 69 | 69 |
Effective rate | 3.50% | 3.50% | |
Parent Company | Subordinated Notes | Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 31 | $ 31 | 31 |
Effective rate | 3.42% | 3.42% | |
Parent Company | Subordinated Notes | Camco Statutory Trust I 4.13% due 2037 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 4 | $ 4 | 4 |
Effective rate | 4.13% | 4.13% | |
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | Sky Financial Capital Trust IV 4.20% junior subordinated debentures due 2036 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.40% | ||
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | Sky Financial Capital Trust III 4.20% junior subordinated debentures due 2036 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.40% | ||
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | Huntington Capital I Trust Preferred 3.50% junior subordinated debentures due 2027 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.70% | ||
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.625% | ||
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | Camco Statutory Trust I 4.13% due 2037 | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 1.33% | ||
Parent Company | Subordinated Notes | London Interbank Offered Rate (LIBOR) [Member] | 3.31% Huntington National Bank senior notes due 2020 (5) | |||
Debt Instrument [Line Items] | |||
Basis spread on variable rate | 0.51% | ||
Parent Company | Senior Notes | 3.19% Huntington Bancshares Incorporated medium-term notes due 2021 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 969 | $ 969 | 969 |
Stated rate | 3.19% | 3.19% | |
Parent Company | Senior Notes | 2.33% Huntington Bancshares Incorporated senior notes due 2022 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 946 | $ 946 | 953 |
Stated rate | 2.33% | 2.33% | |
Parent Company | Senior Notes | 4.00% Huntington Bancshares Incorporated senior notes due 2025 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 507 | $ 507 | 0 |
Stated rate | 4.00% | 4.00% | |
Parent Company | Senior Notes | 2.64% Huntington Bancshares Incorporated senior notes due 2018 | |||
Debt Instrument [Line Items] | |||
Long-term borrowings | $ 0 | $ 0 | $ 399 |
Stated rate | 2.64% | 2.64% |
LONG-TERM DEBT - Maturities (De
LONG-TERM DEBT - Maturities (Details) $ in Millions | Dec. 31, 2018USD ($) |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | $ 593 |
2,020 | 2,376 |
2,021 | 1,835 |
2,022 | 1,864 |
2,023 | 1,109 |
Thereafter | 1,004 |
Long-term Debt, Gross | 8,781 |
Parent Company | Senior Notes | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 0 |
2,020 | 0 |
2,021 | 1,000 |
2,022 | 1,000 |
2,023 | 0 |
Thereafter | 500 |
Long-term Debt, Gross | 2,500 |
Parent Company | Subordinated Notes | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 0 |
2,020 | 300 |
2,021 | 0 |
2,022 | 0 |
2,023 | 250 |
Thereafter | 253 |
Long-term Debt, Gross | 803 |
Bank | Senior Notes | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 500 |
2,020 | 2,000 |
2,021 | 750 |
2,022 | 700 |
2,023 | 750 |
Thereafter | 0 |
Long-term Debt, Gross | 4,700 |
Bank | Subordinated Notes | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 76 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
Thereafter | 250 |
Long-term Debt, Gross | 326 |
Bank | Federal Home Loan Bank advances | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 1 |
2,020 | 2 |
2,021 | 0 |
2,022 | 1 |
2,023 | 1 |
Thereafter | 1 |
Long-term Debt, Gross | 6 |
Bank | Other borrowings | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,019 | 16 |
2,020 | 74 |
2,021 | 85 |
2,022 | 163 |
2,023 | 108 |
Thereafter | 0 |
Long-term Debt, Gross | $ 446 |
LONG-TERM DEBT - Narrative (Det
LONG-TERM DEBT - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2018 | Dec. 31, 2018 | Aug. 16, 2018 | May 08, 2018 | Dec. 31, 2017 | Aug. 07, 2017 | Mar. 07, 2017 | |
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 8,625,000,000 | $ 8,625,000,000 | $ 9,206,000,000 | ||||
Senior Notes | Huntington National Bank Senior Note Due May 2025, 4.00 Percent [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 500,000,000 | ||||||
Debt percent of value issued | 99.686% | ||||||
Stated rate | 4.00% | ||||||
Senior Notes | Huntington National Bank Senior Note Due May 2021, 3.25 Percent [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 750,000,000 | ||||||
Debt percent of value issued | 99.774% | ||||||
Stated rate | 3.25% | ||||||
Senior Notes | Huntington National Bank Senior Note Due October 2023, 3.55 Percent [Domain] | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 750,000,000 | ||||||
Debt percent of value issued | 99.78% | ||||||
Stated rate | 3.55% | ||||||
Senior Notes | Senior notes due 2020 | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 700,000,000 | ||||||
Debt percent of value issued | 99.994% | ||||||
Stated rate | 2.375% | ||||||
Redemption price percentage | 100.00% | ||||||
Senior Notes | 2.23% Huntington National Bank senior note due 2017 | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 300,000,000 | ||||||
Debt percent of value issued | 100.00% | ||||||
Senior Notes | Huntington National Bank Senior Note Due August 2022, 2.5 Percent [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Debt face amount | $ 700,000,000 | ||||||
Debt percent of value issued | 99.762% | ||||||
Stated rate | 2.50% | ||||||
Subordinated Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 4,957,000,000 | 4,957,000,000 | 5,733,000,000 | ||||
Other borrowings | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | 446,000,000 | 446,000,000 | 338,000,000 | ||||
Parent Company | |||||||
Debt Instrument [Line Items] | |||||||
Long-term debt | $ 3,216,000,000 | $ 3,216,000,000 | 3,128,000,000 | ||||
Parent Company | Subordinated Notes | Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 | |||||||
Debt Instrument [Line Items] | |||||||
Effective rate | 3.42% | 3.42% | |||||
Long-term debt | $ 31,000,000 | $ 31,000,000 | $ 31,000,000 | ||||
Parent Company | Subordinated Notes | Huntington Capital II Trust Preferred 3.42% junior subordinated debentures due 2028 | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument [Line Items] | |||||||
Basis spread on variable rate | 0.625% |
OTHER COMPREHENSIVE INCOME - Ac
OTHER COMPREHENSIVE INCOME - Activity/Roll Forward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Pretax | |||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | $ 4 | $ 1 | |
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | 3 | 2 | |
Less: Reclassification adjustment for net (gains) losses included in net income | 1 | ||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 4 | 2 | |
Net change in pension and post-retirement obligations | $ (4) | 0 | (38) |
Total other comprehensive income (loss), pretax | (106) | (52) | (269) |
Tax (Expense) Benefit | |||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | (2) | 0 | |
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | (1) | (1) | |
Less: Reclassification adjustment for net (gains) losses included in net income | 0 | ||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | (1) | (1) | |
Net change in pension and other post-retirement obligations | 0 | 0 | (13) |
Total other comprehensive income (loss) | 26 | 18 | 94 |
After-tax | |||
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold | 2 | 1 | |
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | (84) | (39) | (202) |
Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period | 2 | 1 | |
Less: Reclassification adjustment for net losses (gains) losses included in net income | 1 | ||
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships | 0 | 3 | 1 |
Net change in pension and post-retirement obligations | 4 | 0 | 25 |
Other comprehensive loss, net of tax | (80) | (34) | (175) |
Equity Securities [Member] | |||
Pretax | |||
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | 1 | ||
Tax (Expense) Benefit | |||
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | (1) | ||
After-tax | |||
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | 0 | ||
Debt securities | |||
Pretax | |||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | (151) | (87) | (203) |
Less: Reclassification adjustment for net losses (gains) included in net income | 41 | 26 | (107) |
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | (110) | (57) | (309) |
Tax (Expense) Benefit | |||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | 35 | 31 | 70 |
Less: Reclassification adjustment for net losses (gains) included in net income | (9) | (9) | 38 |
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | 26 | 20 | 108 |
After-tax | |||
Unrealized holding gains (losses) on available-for-sale debt securities arising during the period | (116) | (56) | (133) |
Less: Reclassification adjustment for net gains (losses) included in net income | 32 | 17 | (69) |
Net change in unrealized holding gains (losses) on available-for-sale debt/equity securities | $ (84) | $ (37) | $ (201) |
OTHER COMPREHENSIVE INCOME - AO
OTHER COMPREHENSIVE INCOME - AOCI Roll Forward (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | 10,814 | $ 10,308 | $ 6,595 |
Other comprehensive income before reclassifications | (116) | (62) | |
Amounts reclassified from accumulated OCI to earnings | 36 | 28 | |
Period change | (80) | (34) | |
Tax Cuts and Job Acts of 2017, Reclassification from AOCI to Retained Earnings | 0 | ||
Ending balance | 11,102 | 10,814 | 10,308 |
AOCI attributable to parent | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (528) | (401) | (226) |
Tax Cuts and Job Acts of 2017, Reclassification from AOCI to Retained Earnings | (93) | ||
Ending balance | (609) | (528) | (401) |
Unrealized gains and (losses) on 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) | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (278) | (193) | |
Other comprehensive income before reclassifications | (116) | (54) | |
Amounts reclassified from accumulated OCI to earnings | 32 | 17 | |
Period change | (84) | (37) | |
Tax Cuts and Job Acts of 2017, Reclassification from AOCI to Retained Earnings | 48 | ||
Ending balance | (363) | (278) | (193) |
Unrealized gains (losses) on cash flow hedging derivatives | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | 0 | (3) | |
Other comprehensive income before reclassifications | 0 | 2 | |
Amounts reclassified from accumulated OCI to earnings | 0 | 1 | |
Period change | 0 | 3 | |
Ending balance | 0 | 0 | (3) |
Unrealized gains (losses) for pension and other post-retirement obligations | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning balance | (250) | (205) | |
Other comprehensive income before reclassifications | 0 | (10) | |
Amounts reclassified from accumulated OCI to earnings | 4 | 10 | |
Period change | 4 | 0 | |
Tax Cuts and Job Acts of 2017, Reclassification from AOCI to Retained Earnings | (45) | ||
Ending balance | (246) | (250) | (205) |
Reclassification out of Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Transferred from AFS to HTM | (137) | $ (82) | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains and (losses) on securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI to earnings | 32 | 17 | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on cash flow hedging derivatives | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI to earnings | 0 | 1 | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) for pension and other post-retirement obligations | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI to earnings | $ 7 | $ 10 |
OTHER COMPREHENSIVE INCOME - Re
OTHER COMPREHENSIVE INCOME - Reclassifications (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Interest income—held-to-maturity securities—taxable | $ 211 | $ 193 | $ 138 |
Debt and Equity Securities, Gain (Loss) | (21) | 0 | 2 |
Noninterest income—net gains (losses) on sale of securities, OTTI | 0 | (4) | (2) |
Interest income - loans and leases | 3,305 | 2,838 | 2,178 |
Noninterest income - other income | 180 | 185 | 157 |
Noninterest income / expense (1) | 1,559 | 1,524 | $ 1,349 |
Net of tax | (36) | (28) | |
Unrealized gains (losses) on cash flow hedging derivatives | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net of tax | 0 | (1) | |
Unrealized gains (losses) for pension and other post-retirement obligations | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Net of tax | (4) | (10) | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains and (losses) on securities | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Interest income—held-to-maturity securities—taxable | (13) | (8) | |
Debt and Equity Securities, Gain (Loss) | (28) | (14) | |
Noninterest income—net gains (losses) on sale of securities, OTTI | 0 | (4) | |
Total before tax | (41) | (26) | |
Tax benefit | 9 | 9 | |
Net of tax | (32) | (17) | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on cash flow hedging derivatives | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Total before tax | 0 | (1) | |
Tax benefit | 0 | 0 | |
Net of tax | 0 | (1) | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) on cash flow hedging derivatives | Interest Rate Contract | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Interest income - loans and leases | 0 | (1) | |
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gains (losses) for pension and other post-retirement obligations | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Total before tax | (9) | (16) | |
Tax benefit | 2 | 6 | |
Net of tax | (7) | (10) | |
Reclassification out of Accumulated Other Comprehensive Income | Actuarial losses | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Noninterest income / expense (1) | (13) | (18) | |
Reclassification out of Accumulated Other Comprehensive Income | Net periodic benefit costs | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Noninterest income / expense (1) | $ 4 | $ 2 |
SHAREHOLDERS' EQUITY - Preferre
SHAREHOLDERS' EQUITY - Preferred Stock Issued and Outstanding (Details) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||
Sep. 30, 2018 | Mar. 31, 2012 | Dec. 31, 2018USD ($)$ / sharesshares | Feb. 27, 2018USD ($)$ / shares | Feb. 22, 2018shares | Dec. 31, 2017USD ($)shares | |
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 740,500 | 1,098,006 | ||||
Preferred Stock, Value, Outstanding | $ 1,203 | |||||
Preferred Stock, Value, Issued | $ 1,203 | $ 1,071 | ||||
Preferred Stock | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares | $ 1,000 | |||||
Series A Preferred Stock | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, dividend percentage | 0.085 | 0.085 | ||||
Preferred Class A [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of shares issued for each share of convertible preferred stock | shares | 83.668 | |||||
Series B Preferred Stock | ||||||
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 35,500 | |||||
Preferred Stock, Value, Outstanding | $ 23 | |||||
Preferred stock, dividend percentage | 3-mo. LIBOR + 270 bps | |||||
Preferred Stock, Redemption Date | Jan. 15, 2017 | |||||
Depository share, percent interest in preferred stock | 0.025 | |||||
Series D Preferred Stock | ||||||
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 400,000 | |||||
Preferred Stock, Value, Outstanding | $ 386 | |||||
Preferred stock, dividend percentage | 0.0625 | |||||
Preferred Stock, Redemption Date | Jul. 15, 2021 | |||||
Series D Preferred Stock2 | ||||||
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 200,000 | |||||
Preferred Stock, Value, Outstanding | $ 199 | |||||
Preferred stock, dividend percentage | 0.0625 | |||||
Preferred Stock, Redemption Date | Jul. 15, 2021 | |||||
Series C Preferred Stock | ||||||
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 100,000 | |||||
Preferred Stock, Value, Outstanding | $ 100 | |||||
Preferred stock, dividend percentage | 0.05875 | |||||
Preferred Stock, Redemption Date | Jan. 15, 2022 | |||||
Series E Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred Stock, Shares Outstanding | shares | 5,000 | |||||
Preferred Stock, Value, Outstanding | $ 495 | |||||
Preferred stock, dividend percentage | 0.057 | |||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | |||||
Preferred Stock, Redemption Date | Apr. 15, 2023 | |||||
Preferred stock, liquidation preference per share (in dollars per share) | $ / shares | 100,000 | |||||
Payments of Stock Issuance Costs | $ 5 | |||||
Depositary Shares, Liquidation Preference Per Share | $ / shares | $ 1,000 | |||||
Preferred Stock, Value, Issued | $ 500 | |||||
Depositary Shares, Issued | shares | 500,000 |
EARNINGS PER SHARE (Details)
EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Feb. 22, 2018 | |
Basic earnings per common share: | ||||||||||||
Net income | $ 334 | $ 378 | $ 355 | $ 326 | $ 432 | $ 275 | $ 272 | $ 207 | $ 1,393 | $ 1,186 | $ 712 | |
Preferred stock dividends | (19) | (18) | (21) | (12) | (19) | (19) | (19) | (19) | (70) | (76) | (65) | |
Net income available to common shareholders | $ 315 | $ 360 | $ 334 | $ 314 | $ 413 | $ 256 | $ 253 | $ 188 | $ 1,323 | $ 1,110 | $ 647 | |
Average common shares issued and outstanding (in shares) | 1,081,542,000 | 1,084,686,000 | 904,438,000 | |||||||||
Basic earnings per common share (in USD per share) | $ 0.30 | $ 0.33 | $ 0.30 | $ 0.29 | $ 0.38 | $ 0.24 | $ 0.23 | $ 0.17 | $ 1.22 | $ 1.02 | $ 0.72 | |
Diluted earnings per common share: | ||||||||||||
Net income available to common shareholders | $ 315 | $ 360 | $ 334 | $ 314 | $ 413 | $ 256 | $ 253 | $ 188 | $ 1,323 | $ 1,110 | $ 647 | |
Effect of assumed preferred stock conversion | 0 | 31 | 0 | |||||||||
Net income applicable to diluted earnings per share | $ 1,323 | $ 1,141 | $ 647 | |||||||||
Dilutive potential common shares | ||||||||||||
Stock options and restricted stock units and awards (in shares) | 16,529,000 | 17,883,000 | 11,728,000 | |||||||||
Shares held in deferred compensation plans (in shares) | 3,511,000 | 3,160,000 | 2,486,000 | |||||||||
Dilutive impact of Preferred Stock | 4,403,000 | 30,330,000 | 0 | |||||||||
Other (in shares) | 0 | 127,000 | 138,000 | |||||||||
Dilutive potential common shares: (in shares) | 24,443,000 | 51,500,000 | 14,352,000 | |||||||||
Total diluted average common shares issued and outstanding (in shares) | 1,105,985,000 | 1,136,186,000 | 918,790,000 | |||||||||
Diluted earnings per common share (in USD per share) | $ 0.29 | $ 0.33 | $ 0.30 | $ 0.28 | $ 0.37 | $ 0.23 | $ 0.23 | $ 0.17 | $ 1.20 | $ 1 | $ 0.70 | |
Stock Option | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||
Options outstanding to purchase common stock shares having antidilutive effect (in shares) | 2,000,000 | 1,000,000 | 3,000,000 | |||||||||
Series A Preferred Stock [Member] | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||
Preferred stock, dividend percentage | 0.085 | 0.085 | ||||||||||
Common Stock | ||||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||||||||
Number of shares issued for each share of convertible preferred stock | 30,300,000 |
NONINTEREST INCOME - Summary of
NONINTEREST INCOME - Summary of Noninterest Income (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue from Contract with Customer [Abstract] | |||||||||||
Noninterest income from contracts with customers | $ 881 | ||||||||||
Noninterest income within the scope of other GAAP topics | 440 | ||||||||||
Total noninterest income | $ 329 | $ 342 | $ 336 | $ 314 | $ 340 | $ 330 | $ 325 | $ 312 | $ 1,321 | $ 1,307 | $ 1,150 |
NONINTEREST INCOME - Disaggrega
NONINTEREST INCOME - Disaggregation by Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | $ 881 | ||||||||||
Noninterest income within the scope of other GAAP topics | 440 | ||||||||||
Noninterest income | $ 329 | $ 342 | $ 336 | $ 314 | $ 340 | $ 330 | $ 325 | $ 312 | 1,321 | $ 1,307 | $ 1,150 |
Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 363 | ||||||||||
Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 209 | ||||||||||
Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 171 | ||||||||||
Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 82 | ||||||||||
Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 56 | ||||||||||
Operating Segments | Consumer And Business Banking [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 588 | ||||||||||
Noninterest income within the scope of other GAAP topics | 150 | ||||||||||
Noninterest income | 738 | 735 | 649 | ||||||||
Operating Segments | Consumer And Business Banking [Member] | Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 290 | ||||||||||
Operating Segments | Consumer And Business Banking [Member] | Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 198 | ||||||||||
Operating Segments | Consumer And Business Banking [Member] | Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 28 | ||||||||||
Operating Segments | Consumer And Business Banking [Member] | Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 34 | ||||||||||
Operating Segments | Consumer And Business Banking [Member] | Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 38 | ||||||||||
Operating Segments | Commercial Banking [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 90 | ||||||||||
Noninterest income within the scope of other GAAP topics | 223 | ||||||||||
Noninterest income | 313 | 278 | 245 | ||||||||
Operating Segments | Commercial Banking [Member] | Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 64 | ||||||||||
Operating Segments | Commercial Banking [Member] | Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 11 | ||||||||||
Operating Segments | Commercial Banking [Member] | Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 4 | ||||||||||
Operating Segments | Commercial Banking [Member] | Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 5 | ||||||||||
Operating Segments | Commercial Banking [Member] | Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 6 | ||||||||||
Operating Segments | Vehicle Finance [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 8 | ||||||||||
Noninterest income within the scope of other GAAP topics | 2 | ||||||||||
Noninterest income | 10 | ||||||||||
Operating Segments | Vehicle Finance [Member] | Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 5 | ||||||||||
Operating Segments | Vehicle Finance [Member] | Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Operating Segments | Vehicle Finance [Member] | Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Operating Segments | Vehicle Finance [Member] | Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Operating Segments | Vehicle Finance [Member] | Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 3 | ||||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 192 | ||||||||||
Noninterest income within the scope of other GAAP topics | 1 | ||||||||||
Noninterest income | 193 | 188 | 177 | ||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 4 | ||||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 139 | ||||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 41 | ||||||||||
Operating Segments | Regional Banking and The Huntington Private Client Group [Member] | Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 8 | ||||||||||
Treasury / Other | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 3 | ||||||||||
Noninterest income within the scope of other GAAP topics | 64 | ||||||||||
Noninterest income | 67 | $ 92 | $ 64 | ||||||||
Treasury / Other | Service charges on deposit accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Treasury / Other | Cards and payment processing income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Treasury / Other | Trust and investment management services | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 0 | ||||||||||
Treasury / Other | Insurance income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | 2 | ||||||||||
Treasury / Other | Other income | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income from contracts with customers | $ 1 |
SHARE-BASED COMPENSATION - Narr
SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized | 33 | ||
Shares available for grant | 26 | ||
Tax benefit realized from exercise of options | $ 10 | $ 5 | $ 3 |
Granted (in USD per share) | $ 14.98 | $ 11.13 | $ 9.59 |
Total fair value of awards vested | $ 62 | $ 53 | $ 31 |
Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 52 | 16 | 11 |
Award vesting period | 4 years | ||
Cash received for exercises of stock options | $ 5 | $ 11 | $ 14 |
Total unrecognized compensation cost related to nonvested awards | $ 96 | ||
Cost not yet recognized period for recognition | 2 years 4 months | ||
Stock Option | Prior to May 2004 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards expiration period | 10 years | ||
Stock Option | After May 2004 | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Awards expiration period | 7 years | ||
Restricted Stock Awards | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted (in USD per share) | $ 0 | ||
Performance Share Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award vesting period | 3 years | ||
Granted (in USD per share) | $ 14.81 |
SHARE-BASED COMPENSATION - Sche
SHARE-BASED COMPENSATION - Schedule of Assumptions (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Assumptions | |||
Risk-free interest rate | 2.88% | 2.04% | 1.63% |
Expected dividend yield | 3.71% | 3.31% | 3.18% |
Expected volatility of Huntington’s common stock | 24.00% | 29.50% | 30.00% |
Expected option term (years) | 6 years 6 months | 6 years 6 months | 6 years 6 months |
Weighted-average grant date fair value per share | $ 2.58 | $ 2.81 | $ 2.17 |
SHARE-BASED COMPENSATION - Shar
SHARE-BASED COMPENSATION - Share-Based Compensation Expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Share-based compensation expense | $ 78 | $ 92 | $ 66 |
Tax benefit | $ 14 | $ 32 | $ 22 |
SHARE-BASED COMPENSATION - Sc_2
SHARE-BASED COMPENSATION - Schedule of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($)$ / sharesshares | |
Options (in shares): | |
Outstanding at beginning of period (in shares) | 13,918 |
Granted (in shares) | 2,538 |
Exercised (in shares) | (5,775) |
Forfeited'expired (in shares) | (64) |
Outstanding at end of period (in shares) | 10,617 |
Expected to vest at end of period (in shares) | 4,503 |
Exercisable at end of period (in shares) | 5,981 |
Weighted- Average Exercise Price (USD per share): | |
Outstanding at beginning of period (USD per share) | $ / shares | $ 8.21 |
Granted (USD per share) | $ / shares | 14.81 |
Exercised (USD per share) | $ / shares | 6.57 |
Forfeited or expired (USD per share) | $ / shares | 13.31 |
Outstanding at end of period (USD per share) | $ / shares | 10.64 |
Vested and expected to vest (USD per share) | $ / shares | 13.36 |
Exercisable (USD per share) | $ / shares | $ 8.52 |
Weighted-Average Remaining Contractual Life (Years)/Aggregate Intrinsic Value | |
Outstanding, weighted-average remaining contractual life (years) | 5 years 5 months |
Expected to vest, weighted-average remaining contractual period (years) | 8 years 7 months |
Exercisable, weighted-average remaining contractual term (years) | 2 years 12 months |
Outstanding aggregate intrinsic value | $ | $ 22 |
Expected to vest, aggregate intrinsic value | $ | 2 |
Exercisable, aggregate intrinsic value | $ | $ 21 |
Expected to be forfeited (in shares) | 133 |
SHARE-BASED COMPENSATION - Rest
SHARE-BASED COMPENSATION - Restricted Stock, RSUs, Performance Shares (Details) - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Weighted-Average Grant Date Fair Value Per Share (USD per share): | |||
Granted (in USD per share) | $ 14.98 | $ 11.13 | $ 9.59 |
Restricted Stock Awards | |||
Shares: | |||
Nonvested at beginning of period (in shares) | 448 | ||
Granted (in shares) | 0 | ||
Vested (in shares) | (227) | ||
Forfeited (in shares) | (20) | ||
Nonvested at end of period (in shares) | 201 | 448 | |
Weighted-Average Grant Date Fair Value Per Share (USD per share): | |||
Nonvested at beginning of period (in USD per share) | $ 9.68 | ||
Granted (in USD per share) | 0 | ||
Vested (in USD per share) | 9.68 | ||
Forfeited (in USD per share) | 9.68 | ||
Nonvested at end of period (in USD per share) | $ 9.68 | $ 9.68 | |
Restricted Stock Units | |||
Shares: | |||
Nonvested at beginning of period (in shares) | 16,159 | ||
Granted (in shares) | 4,743 | ||
Vested (in shares) | (4,948) | ||
Forfeited (in shares) | (474) | ||
Nonvested at end of period (in shares) | 15,480 | 16,159 | |
Weighted-Average Grant Date Fair Value Per Share (USD per share): | |||
Nonvested at beginning of period (in USD per share) | $ 11.26 | ||
Granted (in USD per share) | 15.01 | ||
Vested (in USD per share) | 10.56 | ||
Forfeited (in USD per share) | 12.32 | ||
Nonvested at end of period (in USD per share) | $ 12.51 | $ 11.26 | |
Performance Share Units | |||
Shares: | |||
Nonvested at beginning of period (in shares) | 3,018 | ||
Granted (in shares) | 691 | ||
Vested (in shares) | (719) | ||
Forfeited (in shares) | (32) | ||
Nonvested at end of period (in shares) | 2,958 | 3,018 | |
Weighted-Average Grant Date Fair Value Per Share (USD per share): | |||
Nonvested at beginning of period (in USD per share) | $ 10.67 | ||
Granted (in USD per share) | 14.81 | ||
Vested (in USD per share) | 10.89 | ||
Forfeited (in USD per share) | 12.27 | ||
Nonvested at end of period (in USD per share) | $ 11.75 | $ 10.67 |
BENEFIT PLANS - Narrative (Deta
BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer Contributions | $ 0 | |||
Defined Contribution Plan, Cost | 46 | $ 35 | $ 36 | |
Defined Benefit Plan, Plan Assets, Amount | $ 828 | 828 | 903 | |
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Accumulated benefit obligations in excess of plan assets, aggregate projected benefit obligation | $ 7 | 7 | ||
Defined benefit plan expenses | 2 | 2 | 2 | |
Estimated net periodic pension cost in next fiscal year | 3 | |||
Average duration of plan assets investment in bonds, years | 12 years 8 months | |||
Estimated life of benefit obligations | 12 years 5 months | |||
Defined Benefit Plan, Plan Assets, Amount | $ 828 | $ 828 | $ 903 | $ 841 |
Pension Benefits | Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual plan asset allocations | 27.00% | 27.00% | ||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | .50 | |||
Pension Benefits | Bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual plan asset allocations | 72.00% | 72.00% | ||
Pension Benefits | Cash and cash equivalents | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Actual plan asset allocations | 1.00% | 1.00% | ||
Minimum | Pension Benefits | Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | .20 | |||
Minimum | Pension Benefits | Bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | .5 | |||
Maximum | Pension Benefits | Bonds | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description | .80 |
BENEFIT PLANS - Weighted Averag
BENEFIT PLANS - Weighted Average Assumptions (Details) - Pension Benefits | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted-average assumptions used to determine benefit obligations | ||
Discount rate | 4.41% | 3.73% |
Weighted-average assumptions used to determine net periodic benefit cost | ||
Discount Rate | 3.73% | 4.38% |
Long-term Return on Assets | 5.75% | 6.50% |
BENEFIT PLANS - Projected Benef
BENEFIT PLANS - Projected Benefit Obligation (Details) - Pension Benefits - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Change in Benefit Obligation [Roll Forward] | |||
Projected benefit obligation at beginning of measurement year | $ 900 | $ 851 | |
Service cost | 3 | 3 | $ 5 |
Interest cost | 29 | 30 | 30 |
Benefits Paid | 26 | 27 | |
Settlements | (18) | (31) | |
Actuarial assumptions and gains and losses | (67) | 74 | |
Total changes | (79) | 49 | |
Projected benefit obligation at end of measurement year | $ 821 | $ 900 | $ 851 |
BENEFIT PLANS - Fair Value of P
BENEFIT PLANS - Fair Value of Plan Assets (Details 1) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Change in Fair Value of Plan Assets [Abstract] | ||
Fair value of plan assets at beginning of measurement year | $ 903 | |
Fair value of plan assets at end of measurement year | 828 | $ 903 |
Pension Benefits | ||
Change in Fair Value of Plan Assets [Abstract] | ||
Fair value of plan assets at beginning of measurement year | 903 | 841 |
Actual return on plan assets | (30) | 118 |
Settlements | (19) | (29) |
Defined Benefit Plan, Plan Assets, Benefits Paid | 26 | 27 |
Total changes | (75) | 62 |
Fair value of plan assets at end of measurement year | $ 828 | $ 903 |
BENEFIT PLANS - Net Periodic Be
BENEFIT PLANS - Net Periodic Benefit Costs (Details) - Pension Benefits - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Components of net periodic benefit expense [Abstract] | |||
Service cost | $ 3 | $ 3 | $ 5 |
Interest cost | 29 | 30 | 30 |
Expected return on plan assets | (49) | (55) | (45) |
Amortization of loss | 9 | 7 | 7 |
Settlements | 7 | 11 | (8) |
Benefit costs | $ (1) | $ (4) | $ (11) |
BENEFIT PLANS - Fair Value of_2
BENEFIT PLANS - Fair Value of Plan Assets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Summary of plan assets investments | ||
Fair value of plan assets | $ 828 | $ 903 |
Fair value of plan assets, Percentage | 100.00% | 100.00% |
Mutual funds-money market | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 4 | $ 14 |
Fair value of plan assets, Percentage | 0.00% | 2.00% |
U.S. Treasury securities | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 4 | $ 5 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Corporate obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 272 | $ 293 |
Fair value of plan assets, Percentage | 33.00% | 32.00% |
U.S. Government obligations | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 298 | $ 216 |
Fair value of plan assets, Percentage | 36.00% | 24.00% |
U.S. Government agencies | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 22 | $ 23 |
Fair value of plan assets, Percentage | 3.00% | 3.00% |
Mutual funds-equities | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 64 | $ 118 |
Fair value of plan assets, Percentage | 8.00% | 13.00% |
Common stock | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 98 | $ 158 |
Fair value of plan assets, Percentage | 12.00% | 17.00% |
Preferred stock | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 5 | $ 5 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
Exchange traded funds | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 45 | $ 58 |
Fair value of plan assets, Percentage | 5.00% | 6.00% |
Limited Partnerships | ||
Summary of plan assets investments | ||
Fair value of plan assets | $ 16 | $ 13 |
Fair value of plan assets, Percentage | 1.00% | 1.00% |
BENEFIT PLANS - Expected Future
BENEFIT PLANS - Expected Future Benefit Payments (Details) - Pension Benefits $ in Millions | Dec. 31, 2018USD ($) |
Estimated Future Benefit Payments [Abstract] | |
2,019 | $ 49 |
2,020 | 49 |
2,021 | 48 |
2,022 | 48 |
2,023 | 48 |
2024 through 2028 | $ 238 |
BENEFIT PLANS - Amounts Recogni
BENEFIT PLANS - Amounts Recognized in the Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Retirement Benefits [Abstract] | ||
Noncurrent liabilities | $ 63 | $ 78 |
BENEFIT PLANS - Amounts Recog_2
BENEFIT PLANS - Amounts Recognized in AOCI (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Retirement Benefits [Abstract] | |||
Net actuarial loss | $ (257) | $ (264) | $ (217) |
Prior service cost | 11 | 14 | 12 |
Defined benefit pension plans | $ (246) | $ (250) | $ (205) |
BENEFIT PLANS - Amounts Recog_3
BENEFIT PLANS - Amounts Recognized in OCI (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net actuarial (loss) gain: | |||
Amounts arising during the year | $ (5) | $ (16) | $ 38 |
Amortization included in net periodic benefit costs | 13 | 18 | 2 |
Prior service cost: | |||
Amounts arising during the year | 0 | 0 | 0 |
Amortization included in net periodic benefit costs | (4) | (2) | (2) |
Net actuarial (loss) gain: | |||
Amounts arising during the year | 2 | 6 | (13) |
Amortization included in net periodic benefit costs | (3) | (7) | (1) |
Prior service cost: | |||
Amounts arising during the year | 0 | 0 | 0 |
Amortization included in net periodic benefit costs | 1 | 1 | 1 |
Net actuarial (loss) gain: | |||
Amounts arising during the year | (3) | (10) | 25 |
Amortization included in net periodic benefit costs | 10 | 11 | 1 |
Prior service cost: | |||
Amounts arising during the year | 0 | 0 | 0 |
Amortization included in net periodic benefit costs | (3) | (1) | (1) |
Total recognized in OCI | $ (246) | $ (250) | $ (205) |
BENEFIT PLANS - Defined Contrib
BENEFIT PLANS - Defined Contribution Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Retirement Benefits [Abstract] | |||
Defined contribution plan | $ 46 | $ 35 | $ 36 |
Shares in Huntington common stock (in shares) | 11,635 | 13,566 | |
Market value of Huntington common stock | $ 139 | $ 198 | |
Dividends received on shares of Huntington stock | $ 6 | $ 4 |
INCOME TAXES - Narrative (Detai
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | |||
Deferred Tax Liabilities, Net | $ 123 | ||
Unrecognized tax benefits | 0 | $ 50 | $ 24 |
Net deferred tax asset, operating loss carryforwards | 95 | ||
Net deferred tax asset, operating loss carryforwards, domestic | 51 | ||
Net deferred tax asset, operating loss carryforwards, state and local | 44 | ||
Net deferred tax asset, alternative minimum tax carryforward | 1 | ||
Federal capital loss carryforward valuation allowance | 6 | $ 6 | |
Bad debt reserves with no federal income tax liability | 12 | ||
Unrecognized deferred tax liability from cumulative bad debt reduction | $ 3 | ||
Operating Loss Carryforward Federal | |||
Operating Loss Carryforwards [Line Items] | |||
Net deferred tax asset carryforward expiration date | Dec. 31, 2030 | ||
Operating Loss Carryforward State | |||
Operating Loss Carryforwards [Line Items] | |||
Net deferred tax asset carryforward expiration date | Dec. 31, 2019 | ||
Federal capital loss carryforward valuation allowance | $ 6 | ||
Tax Credit Carryforward, Name [Domain] | |||
Operating Loss Carryforwards [Line Items] | |||
Net deferred tax asset carryforward expiration date | Dec. 31, 2022 |
INCOME TAXES - Gross Unrecogniz
INCOME TAXES - Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | $ 38 | $ 0 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Unrecognized tax benefits at beginning of period | 50 | 24 |
Gross increases for tax positions taken during prior years | 0 | 26 |
Unrecognized tax benefits at end of period | 0 | 50 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | $ 12 | $ 0 |
INCOME TAXES - Provision (Benef
INCOME TAXES - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||
Effective Income Tax Rate Reconciliation, Impact om TCJA, Amount | $ (3) | $ (123) | $ 0 | ||||||||
Current tax provision (benefit) | |||||||||||
Federal | 152 | 41 | 40 | ||||||||
State | 20 | (1) | 3 | ||||||||
Total current tax provision | 172 | 40 | 43 | ||||||||
Deferred tax provision (benefit) | |||||||||||
Federal | 71 | 151 | 161 | ||||||||
State | (8) | 17 | 4 | ||||||||
Total deferred tax provision | 63 | 168 | 165 | ||||||||
Provision for income taxes | $ 57 | $ 62 | $ 57 | $ 59 | $ (20) | $ 90 | $ 79 | $ 59 | $ 235 | $ 208 | $ 208 |
INCOME TAXES - Effective Income
INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||
Provision for income taxes computed at the statutory rate | $ 342 | $ 488 | $ 322 | ||||||||
Increases (decreases): | |||||||||||
Tax-exempt income | (23) | (31) | (27) | ||||||||
Tax-exempt bank owned life insurance income | (14) | (23) | (20) | ||||||||
General business credits | (80) | (71) | (64) | ||||||||
Impact from TCJA | (60) | (67) | (46) | ||||||||
Effective Income Tax Rate Reconciliation, Impact om TCJA, Amount | (3) | (123) | 0 | ||||||||
Affordable housing investment amortization, net of tax benefits | 64 | 46 | 37 | ||||||||
State deferred tax asset valuation allowance adjustment, net | 10 | 11 | 5 | ||||||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount | (14) | (13) | (4) | ||||||||
Other | 13 | (9) | 5 | ||||||||
Provision for income taxes | $ 57 | $ 62 | $ 57 | $ 59 | $ (20) | $ 90 | $ 79 | $ 59 | $ 235 | $ 208 | $ 208 |
INCOME TAXES - Deferred Tax Ass
INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred Tax Assets, Gross [Abstract] | ||
Allowances for credit losses | $ 184 | $ 162 |
Tax credit carryforward | 173 | 142 |
Fair value adjustments | 95 | 108 |
Net operating and other loss carryforward | 16 | 17 |
Market discount | 5 | 7 |
Pension and other employee benefits | 6 | 10 |
Partnership investments | 14 | 0 |
Purchase accounting adjustments | 0 | 153 |
Other assets | 6 | 6 |
Total deferred tax assets | 499 | 605 |
Deferred tax liabilities: | ||
Lease financing | 262 | 249 |
Deferred dividend income | 148 | 116 |
Deferred dividend income | 0 | 77 |
Purchase accounting adjustments | 45 | 39 |
Operating assets | 69 | 53 |
Mortgage servicing rights | 6 | 6 |
Securities adjustments | 25 | 68 |
Pension and other employee benefits | 0 | 5 |
Other liabilities | 2 | 18 |
Total deferred tax liabilities | 557 | 631 |
Net deferred tax (liability) asset before valuation allowance | (58) | (26) |
Valuation allowance | (6) | (6) |
Total deferred tax liabilities | $ (64) | $ (32) |
FAIR VALUES OF ASSETS AND LIA_3
FAIR VALUES OF ASSETS AND LIABILITIES - Narrative (Details) - Level 1 | 3 Months Ended |
Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Percentage of available-for-sale and trading securities in Level 1 (less than) | 1.00% |
Percentage of available-for-sale and trading securities in Level 2 | 77.00% |
Percentage of available-for-sale and trading securities in Level 3 | 23.00% |
FAIR VALUES OF ASSETS AND LIA_4
FAIR VALUES OF ASSETS AND LIABILITIES - Recurring basis (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Assets measured at fair value on a recurring basis | ||
Loans held for sale | $ 613 | $ 413 |
Trading account securities | 105 | 86 |
Consumer loans | 79 | 93 |
Derivative assets gross | 500 | 322 |
Derivative assets netting | (291) | (190) |
Derivative assets | 209 | 132 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 404 | 331 |
Derivative liabilities netting | (217) | (245) |
Derivative liabilities | 187 | 86 |
Recurring | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 613 | 413 |
Trading account securities | 86 | |
Available-for-sale securities | 13,780 | 14,869 |
Other Securities, Fair Value | 22 | 19 |
MSRs | 10 | 11 |
Derivative assets netting | (291) | (190) |
Derivative assets | 209 | 132 |
Liabilities measured at fair value on a recurring basis | ||
Derivative liabilities netting | (217) | (245) |
Derivative liabilities | 187 | 86 |
Recurring | U.S. Treasury securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 5 | 5 |
Recurring | Residential CMOs | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 6,999 | 6,484 |
Recurring | Residential MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,255 | 1,367 |
Recurring | Commercial MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,583 | 2,487 |
Recurring | Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 126 | 70 |
Recurring | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 28 | |
Available-for-sale securities | 3,440 | 3,878 |
Recurring | Asset-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 315 | 467 |
Recurring | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 53 | 109 |
Recurring | Other securities/Sovereign debt | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 77 | 86 |
Available-for-sale securities | 4 | 2 |
Recurring | Level 1 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Trading account securities | 83 | |
Available-for-sale securities | 5 | 5 |
Other Securities, Fair Value | 22 | 19 |
Consumer loans | 0 | 0 |
MSRs | 0 | 0 |
Derivative assets gross | 21 | 0 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 11 | 0 |
Recurring | Level 1 | U.S. Treasury securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 5 | 5 |
Recurring | Level 1 | Residential CMOs | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 1 | Residential MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Recurring | Level 1 | Commercial MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Recurring | Level 1 | Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 1 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 1 | |
Available-for-sale securities | 0 | 0 |
Recurring | Level 1 | Asset-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 1 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 1 | Other securities/Sovereign debt | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 77 | 83 |
Available-for-sale securities | 0 | 0 |
Recurring | Level 2 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 613 | 413 |
Trading account securities | 3 | |
Available-for-sale securities | 10,610 | 11,673 |
Consumer loans | 49 | 55 |
MSRs | 0 | 0 |
Derivative assets gross | 474 | 316 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 390 | 326 |
Recurring | Level 2 | U.S. Treasury securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 2 | Residential CMOs | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 6,999 | 6,484 |
Recurring | Level 2 | Residential MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,255 | 1,367 |
Recurring | Level 2 | Commercial MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 1,583 | 2,487 |
Recurring | Level 2 | Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 126 | 70 |
Recurring | Level 2 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 27 | |
Available-for-sale securities | 275 | 711 |
Recurring | Level 2 | Asset-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 315 | 443 |
Recurring | Level 2 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 53 | 109 |
Recurring | Level 2 | Other securities/Sovereign debt | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 3 |
Available-for-sale securities | 4 | 2 |
Recurring | Level 3 | ||
Assets measured at fair value on a recurring basis | ||
Loans held for sale | 0 | 0 |
Trading account securities | 0 | |
Available-for-sale securities | 3,165 | 3,191 |
Consumer loans | 30 | 38 |
MSRs | 10 | 11 |
Derivative assets gross | 5 | 6 |
Liabilities measured at fair value on a recurring basis | ||
Gross amounts of recognized liabilities | 3 | 5 |
Recurring | Level 3 | U.S. Treasury securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 3 | Residential CMOs | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 3 | Residential MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Recurring | Level 3 | Commercial MBS | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | |
Recurring | Level 3 | Other agencies | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 3 | Municipal securities | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | |
Available-for-sale securities | 3,165 | 3,167 |
Recurring | Level 3 | Asset-backed securities | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 24 |
Recurring | Level 3 | Corporate debt | ||
Assets measured at fair value on a recurring basis | ||
Available-for-sale securities | 0 | 0 |
Recurring | Level 3 | Other securities/Sovereign debt | ||
Assets measured at fair value on a recurring basis | ||
Trading account securities | 0 | 0 |
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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Total gains/losses for the period: | ||||
Included in OCI | $ (52) | |||
Derivative instruments | ||||
Opening balance | (1) | $ (2) | $ 6 | |
Transfers out of Level 3 | $ (35) | (15) | (7) | |
Total gains/losses for the period: | ||||
Included in earnings | 35 | 35 | 16 | (1) |
Included in OCI | 0 | 0 | 0 | |
Purchases/originations | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Settlements | 3 | 0 | 0 | |
Opening balance | 2 | 2 | (1) | (2) |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | 0 | (1) | |
MSRs | ||||
Level 3 Assets Roll Forward: | ||||
Opening balance | 11 | 14 | 18 | |
Transfers out of Level 3 | 0 | 0 | 0 | |
Total gains/losses for the period: | ||||
Included in earnings | (1) | (1) | (3) | (4) |
Included in OCI | 0 | 0 | 0 | |
Purchases/originations | 0 | 0 | 0 | |
Sales | 0 | 0 | 0 | |
Repayments | 0 | 0 | 0 | |
Settlements | 0 | 0 | 0 | |
Closing balance | 10 | 10 | 11 | 14 |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | (1) | (3) | (4) | |
Municipal securities | ||||
Level 3 Assets Roll Forward: | ||||
Opening balance | 3,167 | 2,798 | 2,095 | |
Transfers out of Level 3 | 0 | 0 | 0 | |
Total gains/losses for the period: | ||||
Included in earnings | (3) | (3) | (2) | 7 |
Included in OCI | (52) | (8) | (28) | |
Purchases/originations | 658 | 787 | 1,399 | |
Sales | 0 | 0 | (37) | |
Repayments | 0 | 0 | 0 | |
Settlements | (605) | (408) | (638) | |
Closing balance | 3,165 | 3,165 | 3,167 | 2,798 |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | 0 | (33) | |
Asset-backed securities | ||||
Level 3 Assets Roll Forward: | ||||
Opening balance | 24 | 76 | 100 | |
Transfers out of Level 3 | 0 | 0 | 0 | |
Total gains/losses for the period: | ||||
Included in earnings | (2) | (2) | (5) | (2) |
Included in OCI | 11 | 14 | 6 | |
Purchases/originations | 0 | 0 | 0 | |
Sales | (33) | (60) | (25) | |
Repayments | 0 | 0 | 0 | |
Settlements | 0 | (1) | (3) | |
Closing balance | 0 | 0 | 24 | 76 |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | 0 | (4) | 4 | |
Automobile | ||||
Level 3 Assets Roll Forward: | ||||
Opening balance | 38 | 48 | 2 | |
Transfers out of Level 3 | 0 | 0 | 0 | |
Total gains/losses for the period: | ||||
Included in earnings | 0 | 1 | (2) | |
Included in OCI | 0 | 0 | 0 | |
Purchases/originations | 0 | 0 | 56 | |
Sales | 0 | 0 | 0 | |
Repayments | (8) | (11) | (8) | |
Settlements | 0 | 0 | 0 | |
Closing balance | 30 | $ 30 | 38 | 48 |
Change in unrealized gains or losses for the period included in earnings for assets held at end of the reporting date | $ 0 | $ 0 | $ 0 |
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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivatives gain (loss) included in earnings | $ 35 | $ 35 | $ 16 | $ (1) |
MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (1) | (1) | (3) | (4) |
Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (3) | (3) | (2) | 7 |
Asset-backed securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (2) | (2) | (5) | (2) |
Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | $ 0 | 1 | (2) | |
Mortgage banking income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivatives gain (loss) included in earnings | 35 | 16 | (1) | |
Mortgage banking income | MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (1) | (3) | (4) | |
Mortgage banking income | Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | 0 | |
Mortgage banking income | Asset-backed securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | 0 | |
Mortgage banking income | Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | ||
Securities gains (losses) | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivatives gain (loss) included in earnings | 0 | 0 | 0 | |
Securities gains (losses) | MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | 0 | |
Securities gains (losses) | Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | 1 | |
Securities gains (losses) | Asset-backed securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (2) | (5) | (2) | |
Securities gains (losses) | Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | ||
Interest and fee income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivatives gain (loss) included in earnings | 0 | 0 | ||
Interest and fee income | MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | ||
Interest and fee income | Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | (3) | (2) | ||
Interest and fee income | Asset-backed securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | $ 0 | 0 | ||
Interest and fee income | Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | |||
Noninterest income | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Net derivatives gain (loss) included in earnings | 0 | 0 | ||
Noninterest income | MSRs | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | ||
Noninterest income | Municipal securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 6 | ||
Noninterest income | Asset-backed securities | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | 0 | 0 | ||
Noninterest income | Automobile | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Assets gain (loss) included in earnings | $ 1 | $ (2) |
FAIR VALUES OF ASSETS AND LIA_7
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Automobile loans, fair value | $ 79 | $ 93 |
Loans held for sale | 613 | 413 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale | 613 | 413 |
Fair Value, Measurements, Recurring [Member] | Mortgages Held For Sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale, aggregate unpaid principle | 594 | 400 |
Aggregate difference | (19) | (13) |
Fair Value, Measurements, Recurring [Member] | Mortgages Held To Maturity [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment, aggregate unpaid principle | 87 | 102 |
Automobile loans, fair value | 79 | 93 |
Aggregate difference | (8) | (9) |
Fair Value, Measurements, Recurring [Member] | 90 or more days | Mortgages Held For Sale [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for sale, aggregate unpaid principle | 0 | 1 |
Aggregate difference | 0 | 0 |
Loans held for sale | 0 | 1 |
Fair Value, Measurements, Recurring [Member] | 90 or more days | Mortgages Held To Maturity [Member] | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||
Loans held for investment, aggregate unpaid principle | 7 | 11 |
Automobile loans, fair value | 6 | 10 |
Aggregate difference | $ (1) | $ (1) |
FAIR VALUES OF ASSETS AND LIA_8
FAIR VALUES OF ASSETS AND LIABILITIES - Fair Value Option-Changes in Fair Value (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Net gains (losses) from fair value changes | $ 5 | $ 8 | $ 7 |
Loans held for investment | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Net gains (losses) from fair value changes | $ 0 | $ 0 | $ 0 |
FAIR VALUES OF ASSETS AND LIA_9
FAIR VALUES OF ASSETS AND LIABILITIES - Non-recurring/Fair Values of Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale | $ 613 | $ 413 |
Nonrecurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 33 | |
Other real estate owned | 20 | |
Loans held for sale | 145 | |
Nonrecurring | Total Gains/(Losses) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | (1) | |
Other real estate owned | 7 | |
Loans held for sale | (11) | |
Nonrecurring | Level 1 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring | Level 2 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | |
Other real estate owned | 0 | |
Nonrecurring | Level 3 | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 33 | |
Other real estate owned | 20 | |
Loans held for sale | $ 145 |
FAIR VALUES OF ASSETS AND LI_10
FAIR VALUES OF ASSETS AND LIABILITIES - Significant Unobservable Level 3 Inputs (Details) $ in Millions | 3 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative assets gross | $ 500 | $ 322 |
Gross amounts of recognized liabilities | 404 | 331 |
Consumer loans | 79 | 93 |
Loans held for sale | $ 613 | 413 |
Derivative Liabilities | Weighted Average | Consensus Pricing | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Fair Value Inputs, Timing of the resolution of the litigation | Jun. 30, 2020 | |
Recurring | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
MSRs | $ 10 | 11 |
Available-for-sale securities | 13,780 | 14,869 |
Loans held for sale | 613 | 413 |
Recurring | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
MSRs | 10 | 11 |
Derivative assets gross | 5 | 6 |
Gross amounts of recognized liabilities | 3 | 5 |
Available-for-sale securities | 3,165 | 3,191 |
Consumer loans | 30 | 38 |
Loans held for sale | 0 | 0 |
Fair Value | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | 13,780 | 14,869 |
Fair Value | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | 3,165 | 3,191 |
Fair Value | Nonrecurring | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Impaired loans | 33 | |
Other real estate owned | 20 | |
Loans held for sale | 145 | |
Fair Value | Nonrecurring | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Impaired loans | 33 | |
Other real estate owned | 20 | |
Loans held for sale | 145 | |
Asset-backed securities | Recurring | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | 315 | 467 |
Asset-backed securities | Recurring | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | $ 0 | $ 24 |
Asset-backed securities | Measurement Input, Loss Severity [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 1 | |
Asset-backed securities | Measurement Input, Loss Severity [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.90 | |
Asset-backed securities | Measurement Input, Loss Severity [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.98 | |
Asset-backed securities | Measurement Input, Cure Given Deferral [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.50 | |
Asset-backed securities | Measurement Input, Cure Given Deferral [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.50 | |
Asset-backed securities | Measurement Input, Cure Given Deferral [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.50 | |
Asset-backed securities | Measurement Input, Discount Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.07 | |
Asset-backed securities | Measurement Input, Discount Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.07 | |
Asset-backed securities | Measurement Input, Discount Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.07 | |
Asset-backed securities | Measurement Input, Prepayment Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.72 | |
Asset-backed securities | Measurement Input, Prepayment Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0 | |
Asset-backed securities | Measurement Input, Prepayment Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.07 | |
Asset-backed securities | Measurement Input, Default Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.53 | |
Asset-backed securities | Measurement Input, Default Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.03 | |
Asset-backed securities | Measurement Input, Default Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.07 | |
Derivative Liabilities | Measurement Input, Discount Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Liability, Measurement Input | 0.04 | 0.030 |
Derivative Liabilities | Measurement Input, Estimated Conversion Factor [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Liability, Measurement Input | 1.63 | 1.650 |
Derivative Liabilities | Measurement Input, Estimated Growth Rate of Visa Class A Shares [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Liability, Measurement Input | 0.07 | 0.070 |
Residential MBS | Recurring | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | $ 1,255 | $ 1,367 |
Residential MBS | Recurring | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | $ 0 | |
Residential MBS | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.54 | 0.33 |
Residential MBS | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.06 | 0.08 |
Residential MBS | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.08 | 0.12 |
Residential MBS | Measurement Input, Option Adjusted Spread [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.11 | 0.10 |
Residential MBS | Measurement Input, Option Adjusted Spread [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.05 | 0.08 |
Residential MBS | Measurement Input, Option Adjusted Spread [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Servicing Asset, Measurement Input | 0.08 | 0.08 |
Loans held for investment [Member] | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.09 | 0.22 |
Loans held for investment [Member] | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.09 | 0.02 |
Loans held for investment [Member] | Measurement Input, Constant Prepayment Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.09 | 0.09 |
Loans held for investment [Member] | Measurement Input, Discount Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.09 | 0.18 |
Loans held for investment [Member] | Measurement Input, Discount Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.07 | 0.07 |
Loans held for investment [Member] | Measurement Input, Discount Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.09 | 0.08 |
Derivative Assets | Measurement Input, Net Market Price [Member] | Recurring | Maximum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.23 | 0.20 |
Derivative Assets | Measurement Input, Net Market Price [Member] | Recurring | Minimum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | (0.05) | (0.05) |
Loans held for investment, Measurement Input | 0.02 | |
Derivative Assets | Measurement Input, Net Market Price [Member] | Recurring | Weighted Average | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.02 | |
Derivative Assets | Measurement Input, Estimated Pull Thru [Member] | Recurring | Maximum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 1 | 1 |
Derivative Assets | Measurement Input, Estimated Pull Thru [Member] | Recurring | Minimum | Consensus Pricing | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for investment, Measurement Input | 0.92 | |
Derivative Assets | Measurement Input, Estimated Pull Thru [Member] | Recurring | Minimum | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.01 | 0.03 |
Derivative Assets | Measurement Input, Estimated Pull Thru [Member] | Recurring | Weighted Average | Valuation Technique, Consensus Pricing Model [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Derivative Asset, Measurement Input | 0.75 | |
Loans held for sale [Member] | Nonrecurring | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | $ 121 | |
Loans held for sale [Member] | Nonrecurring | Valuation Technique, Appraisal Value [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans held for sale | $ 24 | |
Loans held for sale [Member] | Measurement Input, Discount Rate [Member] | Nonrecurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans Held-for-sale, Measurement Input | 0.06 | |
Loans held for sale [Member] | Measurement Input, Discount Rate [Member] | Nonrecurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans Held-for-sale, Measurement Input | 0.05 | |
Loans held for sale [Member] | Measurement Input, Discount Rate [Member] | Nonrecurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Loans Held-for-sale, Measurement Input | 0.05 | |
Corporate obligations | Recurring | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | $ 53 | $ 109 |
Corporate obligations | Recurring | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Available-for-sale securities | $ 0 | $ 0 |
Corporate obligations | Measurement Input, Loss Severity [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.90 | 0.90 |
Corporate obligations | Measurement Input, Loss Severity [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.05 | 0.05 |
Corporate obligations | Measurement Input, Loss Severity [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.25 | 0.24 |
Corporate obligations | Measurement Input, Discount Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.04 | 0.10 |
Corporate obligations | Measurement Input, Discount Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.04 | 0 |
Corporate obligations | Measurement Input, Discount Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.04 | 0.04 |
Corporate obligations | Measurement Input, Default Rate [Member] | Recurring | Maximum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.39 | 0.64 |
Corporate obligations | Measurement Input, Default Rate [Member] | Recurring | Minimum | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0 | 0 |
Corporate obligations | Measurement Input, Default Rate [Member] | Recurring | Weighted Average | Valuation Technique, Discounted Cash Flow [Member] | Level 3 | ||
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | ||
Debt Securities, Available-for-sale, Measurement Input | 0.03 | 0.03 |
FAIR VALUES OF ASSETS AND LI_11
FAIR VALUES OF ASSETS AND LIABILITIES - Balance Sheet Location (Details) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Financial Assets: | ||
Trading account securities | $ 105 | $ 86 |
Held-to-maturity securities | 8,565 | 9,091 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 804 | 488 |
Loans and Leases Receivable, Net Amount | 74,128 | 69,426 |
Derivatives | 209 | 132 |
Financial Liabilities: | ||
Deposits | 84,774 | 77,041 |
Short-term borrowings | 2,017 | 5,056 |
Long-term borrowings | 8,625 | 9,206 |
Derivatives | 187 | 86 |
Carrying Amount | ||
Financial Assets: | ||
Available-for-sale securities | 14,869 | |
Other Securities | 565 | 600 |
Financial Liabilities: | ||
Short-term borrowings | 2,017 | |
Long-term borrowings | 8,625 | |
Derivatives | 86 | |
Fair Value | ||
Financial Assets: | ||
Cash and short term assets | 2,725 | |
Trading account securities | 105 | 86 |
Available-for-sale securities | 13,780 | 14,869 |
Held-to-maturity securities | 8,286 | 8,971 |
Other Securities | 565 | 600 |
Other Securities, Only Measured At Fair Value | 22 | 19 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 806 | 491 |
Loans and Leases Receivable, Net Amount | 73,668 | 69,146 |
Financial Liabilities: | ||
Deposits | 84,731 | 77,010 |
Short-term borrowings | 2,017 | 5,056 |
Long-term borrowings | 8,718 | 9,402 |
Level 1 | Fair Value | ||
Financial Assets: | ||
Trading account securities | 78 | |
Available-for-sale securities | 5 | 5 |
Held-to-maturity securities | 0 | 0 |
Other Securities, Only Measured At Fair Value | 22 | 19 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 0 | 0 |
Loans and Leases Receivable, Net Amount | 0 | 0 |
Financial Liabilities: | ||
Deposits | 0 | 0 |
Short-term borrowings | 1 | 0 |
Long-term borrowings | 0 | 0 |
Level 2 | Fair Value | ||
Financial Assets: | ||
Trading account securities | 27 | |
Available-for-sale securities | 10,610 | 11,673 |
Held-to-maturity securities | 8,286 | 8,971 |
Other Securities, Only Measured At Fair Value | 0 | 0 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 613 | 413 |
Loans and Leases Receivable, Net Amount | 49 | 0 |
Financial Liabilities: | ||
Deposits | 76,922 | 73,975 |
Short-term borrowings | 0 | 0 |
Long-term borrowings | 8,158 | 8,944 |
Level 3 | Fair Value | ||
Financial Assets: | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 3,165 | 3,191 |
Held-to-maturity securities | 0 | 0 |
Other Securities, Only Measured At Fair Value | 0 | 0 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 193 | 78 |
Loans and Leases Receivable, Net Amount | 73,619 | 69,146 |
Financial Liabilities: | ||
Deposits | 7,809 | 3,035 |
Short-term borrowings | 2,016 | 5,056 |
Long-term borrowings | 560 | 458 |
Fair Value, Measurements, Recurring [Member] | ||
Financial Assets: | ||
Trading account securities | 86 | |
Available-for-sale securities | 13,780 | 14,869 |
Derivatives | 209 | 132 |
Financial Liabilities: | ||
Derivatives | 187 | 86 |
Fair Value, Measurements, Recurring [Member] | Level 1 | ||
Financial Assets: | ||
Trading account securities | 83 | |
Available-for-sale securities | 5 | 5 |
Fair Value, Measurements, Recurring [Member] | Level 2 | ||
Financial Assets: | ||
Trading account securities | 3 | |
Available-for-sale securities | 10,610 | 11,673 |
Fair Value, Measurements, Recurring [Member] | Level 3 | ||
Financial Assets: | ||
Trading account securities | 0 | |
Available-for-sale securities | 3,165 | 3,191 |
Fair Value, Measurements, Recurring [Member] | Other securities/Sovereign debt | ||
Financial Assets: | ||
Trading account securities | 77 | 86 |
Available-for-sale securities | 4 | 2 |
Fair Value, Measurements, Recurring [Member] | Other securities/Sovereign debt | Level 1 | ||
Financial Assets: | ||
Trading account securities | 77 | 83 |
Available-for-sale securities | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Other securities/Sovereign debt | Level 2 | ||
Financial Assets: | ||
Trading account securities | 0 | 3 |
Available-for-sale securities | 4 | 2 |
Fair Value, Measurements, Recurring [Member] | Other securities/Sovereign debt | Level 3 | ||
Financial Assets: | ||
Trading account securities | 0 | 0 |
Available-for-sale securities | 0 | 0 |
Amortized Cost [Member] | Carrying Amount | ||
Financial Assets: | ||
Cash and short term assets | 2,725 | 1,567 |
Held-to-maturity securities | 8,565 | 9,091 |
Other Securities | 543 | 581 |
Loans and Leases Receivable, Net Amount | 69,333 | |
Financial Liabilities: | ||
Deposits | 84,774 | 77,041 |
Short-term borrowings | 2,017 | 5,056 |
Long-term borrowings | 8,625 | 9,206 |
Fair Value Fair Value Option [Member] | Carrying Amount | ||
Financial Assets: | ||
Trading account securities | 105 | 86 |
Available-for-sale securities | 13,780 | 14,869 |
Other Securities | 22 | 19 |
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | 613 | 413 |
Loans and Leases Receivable, Net Amount | 93 | |
Derivatives | 209 | 132 |
Financial Liabilities: | ||
Derivatives | 187 | 86 |
LowerOfCostOrMarket [Member] | Carrying Amount | ||
Financial Assets: | ||
Loans held for sale (includes $613 and $413 respectively, measured at fair value)(1) | $ 191 | $ 75 |
DERIVATIVE FINANCIAL INSTRUME_3
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Management (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 59 | |
Total notional value | 4,877 | $ 8,375 |
Gross amounts of recognized assets | 500 | 322 |
Gross amounts of recognized liabilities | 404 | 331 |
Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | 12 | 0 |
Securities Investment [Member] | ||
Derivative [Line Items] | ||
Total notional value | 12 | |
Securities Investment [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 0 | |
Securities Investment [Member] | Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | 12 | |
Other long-term debt | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Other long-term debt | Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Other long-term debt | Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | 0 | 0 |
Accrued income and other assets | ||
Derivative [Line Items] | ||
Interest Rate Fair Value Hedge Asset at Fair Value | 44 | 22 |
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value | 261 | 187 |
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value | 23 | 18 |
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value | 172 | 92 |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | 0 | 3 |
Gross amounts of recognized assets | 500 | 322 |
Accrued expenses and other liabilities | ||
Derivative [Line Items] | ||
Interest Rate Fair Value Hedge Liability at Fair Value | 42 | 121 |
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value | 165 | 100 |
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value | 19 | 18 |
Price Risk Derivative Instruments Not Designated as Hedging Instruments Liability, at Fair Value | 168 | 87 |
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value | 10 | 5 |
Gross amounts of recognized liabilities | $ 404 | $ 331 |
Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Mortgage banking income | Not Designated as Hedging Instrument [Member] | Interest Rate Contract | Fair Value Hedges | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (19) | |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Capital markets fees [Domain] | Not Designated as Hedging Instrument [Member] | Interest Rate Contract | Fair Value Hedges | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 41 | |
Capital markets fees [Domain] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 27 | |
Capital markets fees [Domain] | Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 6 | |
Equity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Other noninterest expense | |
Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Mortgage banking income | |
Other Expense [Member] | Not Designated as Hedging Instrument [Member] | Equity Contract [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 4 |
DERIVATIVE FINANCIAL INSTRUME_4
DERIVATIVE FINANCIAL INSTRUMENTS - Gross Notional Values of Derivatives (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Total notional value | $ 4,877 | $ 8,375 |
Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | 12 | 0 |
Securities Investment [Member] | ||
Derivative [Line Items] | ||
Total notional value | 12 | |
Securities Investment [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 0 | |
Securities Investment [Member] | Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | 12 | |
Other long term debt [Member] | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Other long term debt [Member] | Fair Value Hedges | ||
Derivative [Line Items] | ||
Total notional value | 4,865 | 8,375 |
Other long term debt [Member] | Cash Flow Hedges | ||
Derivative [Line Items] | ||
Total notional value | $ 0 | $ 0 |
DERIVATIVE FINANCIAL INSTRUME_5
DERIVATIVE FINANCIAL INSTRUMENTS - Asset and Liability Management Add Info (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 59 | |
Notional Value | $ 4,877 | $ 8,375 |
Average Maturity (years) | 2 years 7 months 6 days | 2 years 6 months |
Fair Value | $ 2 | $ (99) |
Weighted-Average Rate Receive | 2.24% | |
Weighted-Average Rate Pay | 2.54% | |
Asset conversion swaps - Receive Fixed - Generic | ||
Derivative [Line Items] | ||
Notional Value | $ 12 | |
Average Maturity (years) | 1 year 2 months | |
Fair Value | $ 0 | |
Weighted-Average Rate Receive | 2.20% | |
Weighted-Average Rate Pay | 2.46% | |
Liability conversion swaps Receive Fixed Generic | ||
Derivative [Line Items] | ||
Notional Value | $ 4,865 | $ 8,375 |
Average Maturity (years) | 2 years 7 months 6 days | 2 years 6 months |
Fair Value | $ 2 | $ (99) |
Weighted-Average Rate Receive | 2.24% | 1.56% |
Weighted-Average Rate Pay | 2.54% | 1.44% |
Other Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Mortgage banking income | |
Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Equity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Other noninterest expense | |
Customer Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Purpose | Capital markets fees | |
Fair Value Hedges | Not Designated as Hedging Instrument [Member] | Other Expense [Member] | Equity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 4 | |
Fair Value Hedges | Not Designated as Hedging Instrument [Member] | Mortgage banking income | Interest Rate Contract | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (19) | |
Fair Value Hedges | Not Designated as Hedging Instrument [Member] | Capital markets fees [Domain] | Commodity Contract [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 6 | |
Fair Value Hedges | Not Designated as Hedging Instrument [Member] | Capital markets fees [Domain] | Interest Rate Contract | ||
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 41 |
DERIVATIVE FINANCIAL INSTRUME_6
DERIVATIVE FINANCIAL INSTRUMENTS - Hedging instruments (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivatives, Fair Value [Line Items] | |||
liability conversion swaps (notional value) | $ 2,900 | ||
Asset derivatives included in accrued income and other assets | |||
Total derivative assets | $ 500 | $ 322 | |
Liability derivatives included in accrued expenses and other liabilities | |||
Total derivative liabilities | 404 | 331 | |
Liability conversion swap (adjusted basis) | $ 149 | ||
Accrued income and other assets | |||
Asset derivatives included in accrued income and other assets | |||
Interest rate contracts designated as hedging instruments | 44 | 22 | |
Interest rate contracts not designated as hedging instruments | 261 | 187 | |
Foreign exchange contracts not designated as hedging instruments | 23 | 18 | |
Commodities contracts not designated as hedging instruments | 172 | 92 | |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | 0 | 3 | |
Total derivative assets | 500 | 322 | |
Accrued expenses and other liabilities | |||
Liability derivatives included in accrued expenses and other liabilities | |||
Interest rate contracts designated as hedging instruments | 42 | 121 | |
Interest rate contracts not designated as hedging instruments | 165 | 100 | |
Foreign exchange contracts not designated as hedging instruments | 19 | 18 | |
Commodities contracts not designated as hedging instruments | 168 | 87 | |
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value | 10 | 5 | |
Total derivative liabilities | $ 404 | $ 331 |
DERIVATIVE FINANCIAL INSTRUME_7
DERIVATIVE FINANCIAL INSTRUMENTS - Cash Flow Hedges) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period | $ 3 | $ 2 | |
Subordinated notes | Interest expense subordinated notes and other long term debt | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | $ 112 | (53) | (122) |
Hedged subordinated notes | Interest expense subordinated notes and other long term debt | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Increase or (decrease) to interest expense for derivatives designated as fair value hedges | $ (104) | $ 54 | $ 112 |
DERIVATIVE FINANCIAL INSTRUME_8
DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value Hedges (Details) $ in Millions | Dec. 31, 2018USD ($) |
Derivative Instruments, Gain (Loss) [Line Items] | |
Fair Value Hedge Liabilities | $ 4,845 |
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease) | $ (12) |
DERIVATIVE FINANCIAL INSTRUME_9
DERIVATIVE FINANCIAL INSTRUMENTS - Mortgage Banking Activities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative assets: | ||
Derivative assets gross | $ 500 | $ 322 |
Derivative liabilities: | ||
Total derivative liabilities | $ (404) | $ (331) |
DERIVATIVE FINANCIAL INSTRUM_10
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Assets (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Asset [Abstract] | ||
Gross amounts of recognized assets | $ 500 | $ 322 |
Gross amounts offset in the consolidated balance sheets | (291) | (190) |
Net amounts of assets presented in the consolidated balance sheets | 209 | 132 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral [Abstract] | ||
Gross amounts not offset in the statement of financial position - financial instruments | (4) | (11) |
Gross amounts not offset in the statement of financial position - cash collateral received | (53) | (18) |
Net amount | $ 152 | $ 103 |
DERIVATIVE FINANCIAL INSTRUM_11
DERIVATIVE FINANCIAL INSTRUMENTS - Offsetting Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Derivative Liability [Abstract] | ||
Gross amounts of recognized liabilities | $ 404 | $ 331 |
Gross amounts offset in the consolidated balance sheets | (217) | (245) |
Net amounts of assets presented in the consolidated balance sheets | 187 | 86 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral [Abstract] | ||
Gross amounts not offset in the consolidated balance sheets, financial instruments | 0 | 0 |
Gross amounts not offset in the consolidated balance sheets, cash collateral received | (12) | (21) |
Net amount | $ 175 | $ 65 |
DERIVATIVE FINANCIAL INSTRUM_12
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Derivative [Line Items] | |||
Fair value hedging adjustments | $ (127) | ||
Increase (decrease) to net interest income due to derivative adjustment | (36) | $ 23 | $ 72 |
Gross amounts of recognized liabilities (less than) | 404 | 331 | |
Purchase of interest rate caps and derivative financial instruments, notional value | 4,877 | 8,375 | |
Total notional amount corresponds to trading assets, fair value (less than) | 1 | ||
Credit risks from interest rate swaps used for trading purposes | 132 | 119 | |
Aggregate credit risk, net of collateral | 37 | 30 | |
Investment securities and cash collateral pledged by Huntington | 45 | ||
Investment securities and cash collateral pledged to Huntington | $ 144 | ||
Derivative liabilities | The following table presents additional information about the interest rate swaps used in Huntington’s asset and liability management activities at December 31, 2018 and December 31, 2017 : December 31, 2018 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value 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 % December 31, 2017 Average Maturity (years) Weighted-Average Rate (dollar amounts in millions) Notional Value Fair Value Receive Pay Liability conversion swaps Receive fixed—generic 8,375 2.5 (99 ) 1.56 % 1.44 % Total swap portfolio at December 31, 2017 $ 8,375 2.5 $ (99 ) | ||
Swap | |||
Derivative [Line Items] | |||
Gross amounts of recognized liabilities (less than) | $ 1 | ||
Derivative liabilities | 3,000,000 | ||
Derivative used in trading activity | |||
Derivative [Line Items] | |||
Net derivative asset (liability) | $ 92 | 88 | |
Derivative financial instruments used by Huntington on behalf of customers including offsetting derivatives, notional value | 26,000 | 22,000 | |
Derivative used in Mortgage Banking Activities | |||
Derivative [Line Items] | |||
Derivative, Fair Value, Net | (4) | 7 | |
Derivative used Municipal Bond Underwriting [Member] | |||
Derivative [Line Items] | |||
Derivative, Fair Value, Net | 11 | ||
Commitments to Sell Loans | |||
Derivative [Line Items] | |||
Commitments to sell residential real estate loans | $ 840 | $ 696 |
VIEs - Narrative (Details)
VIEs - Narrative (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Variable Interest Entity [Line Items] | |
Maximum year to defer payment of interest on Debenture | 5 years |
VIEs - Consolidated VIEs (Detai
VIEs - Consolidated VIEs (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||||
Cash | $ 1,108 | $ 1,212 | ||
Loans and Leases Receivable, Net Amount | 74,128 | 69,426 | ||
Other assets | 2,288 | 2,151 | ||
Total assets | 108,781 | 104,185 | ||
Liabilities | ||||
Long-term debt | 8,625 | 9,206 | ||
Accrued interest and other liabilities | 2,263 | 2,068 | ||
Total liabilities | 97,679 | 93,371 | ||
Equity: | ||||
Total liabilities and shareholders’ equity | 108,781 | 104,185 | ||
Total ALLL balance: | $ 772 | $ 691 | $ 638 | $ 598 |
VIEs - Unconsolidated VIEs (Det
VIEs - Unconsolidated VIEs (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Variable Interest Entity [Line Items] | ||
Total Assets | $ 848 | $ 775 |
Total Liabilities | 662 | 640 |
Maximum Exposure to Loss | 834 | 761 |
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 | 708 | 636 |
Total Liabilities | 357 | 335 |
Maximum Exposure to Loss | 708 | 636 |
Other Investments | ||
Variable Interest Entity [Line Items] | ||
Total Assets | 126 | 125 |
Total Liabilities | 53 | 53 |
Maximum Exposure to Loss | $ 126 | $ 125 |
VIEs - Trust Preferred Securiti
VIEs - Trust Preferred Securities (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Variable Interest Entity [Line Items] | |
Principal amount of subordinated note/ debenture issued to trust | $ 8,781 |
Huntington Capital I | |
Variable Interest Entity [Line Items] | |
Rate | 3.50% |
Principal amount of subordinated note/ debenture issued to trust | $ 70 |
Investment in unconsolidated subsidiary | $ 6 |
Huntington Capital I | London Interbank Offered Rate (LIBOR) [Member] | |
Variable Interest Entity [Line Items] | |
Basis spread on variable rate | 0.70% |
Huntington Capital II | |
Variable Interest Entity [Line Items] | |
Rate | 3.42% |
Principal amount of subordinated note/ debenture issued to trust | $ 32 |
Investment in unconsolidated subsidiary | $ 3 |
Huntington Capital II | London Interbank Offered Rate (LIBOR) [Member] | |
Variable Interest Entity [Line Items] | |
Basis spread on variable rate | 0.625% |
Sky Financial Capital Trust III | |
Variable Interest Entity [Line Items] | |
Rate | 4.20% |
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) [Member] | |
Variable Interest Entity [Line Items] | |
Basis spread on variable rate | 1.40% |
Sky Financial Capital Trust IV | |
Variable Interest Entity [Line Items] | |
Rate | 4.20% |
Principal amount of subordinated note/ debenture issued to trust | $ 74 |
Investment in unconsolidated subsidiary | $ 2 |
Sky Financial Capital Trust IV | London Interbank Offered Rate (LIBOR) [Member] | |
Variable Interest Entity [Line Items] | |
Basis spread on variable rate | 1.33% |
Camco Financial Trust | |
Variable Interest Entity [Line Items] | |
Rate | 4.13% |
Principal amount of subordinated note/ debenture issued to trust | $ 4 |
Investment in unconsolidated subsidiary | 1 |
Variable Interest Entity, Not Primary Beneficiary | |
Variable Interest Entity [Line Items] | |
Principal amount of subordinated note/ debenture issued to trust | 252 |
Investment in unconsolidated subsidiary | $ 14 |
VIEs - Low Income Housing Tax C
VIEs - Low Income Housing Tax Credit Partnerships (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Affordable Housing Tax Credit Partnerships | |||
Variable Interest Entity [Line Items] | |||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 92 | $ 91 | $ 80 |
Affordable housing tax credit investments | 1,147 | 996 | |
Less: amortization | (439) | (360) | |
Net affordable housing tax credit investments | 708 | 636 | |
Unfunded commitments | 357 | 335 | |
Proportional Amortization Method | |||
Variable Interest Entity [Line Items] | |||
Tax credit amortization expense included in provision for income taxes | 79 | 70 | 53 |
Proportional amortization method | |||
Tax credit amortization expense included in provision for income taxes | 79 | 70 | 53 |
Equity Method | |||
Equity method | |||
Tax credit investment losses included in noninterest income | $ 0 | $ 0 | $ 1 |
COMMITMENTS AND CONTINGENT LI_3
COMMITMENTS AND CONTINGENT LIABILITIES - Commitments to Extend Credit (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Commercial | ||
Guarantor Obligations [Line Items] | ||
Contract amount represents credit risk | $ 17,149 | $ 16,219 |
Consumer | ||
Guarantor Obligations [Line Items] | ||
Contract amount represents credit risk | 14,974 | 13,384 |
Commercial real estate | ||
Guarantor Obligations [Line Items] | ||
Contract amount represents credit risk | 1,188 | 1,366 |
Standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Contract amount represents credit risk | 676 | 510 |
Commercial and Industrial Sector [Member] | Commercial letters-of-credit | ||
Guarantor Obligations [Line Items] | ||
Contract amount represents credit risk | $ 14 | $ 21 |
COMMITMENTS AND CONTINGENT LI_4
COMMITMENTS AND CONTINGENT LIABILITIES - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Future minimum sublease rental payments: | ||||
Operating leases, future minimum payments due, future minimum sublease rentals, total | $ 4,000,000 | $ 4,000,000 | ||
2,019 | 2,000,000 | 2,000,000 | ||
2,020 | 2,000,000 | 2,000,000 | ||
2,021 | 0 | 0 | ||
2,022 | 0 | 0 | ||
2,023 | 0 | 0 | ||
Thereafter | 0 | 0 | ||
Operating lease, future minimum payments due: | ||||
2,019 | 59,000,000 | 59,000,000 | ||
2,020 | 55,000,000 | 55,000,000 | ||
2,021 | 40,000,000 | 40,000,000 | ||
2,022 | 35,000,000 | 35,000,000 | ||
2,023 | 27,000,000 | 27,000,000 | ||
Thereafter | 95,000,000 | 95,000,000 | ||
Total rental expense for all operating leases | 70,000,000 | $ 76,000,000 | $ 65,000,000 | |
Maximum | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Estimate of Possible Loss | 30,000,000 | 30,000,000 | ||
Minimum | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Estimate of Possible Loss | 0 | 0 | ||
Standby letters of credit | ||||
Loss Contingencies [Line Items] | ||||
Contract amount represents credit risk | $ 676,000,000 | 676,000,000 | 510,000,000 | |
Maturity period of guarantee | 2 years | |||
Outstanding standby letters of credit | $ 13,000,000 | $ 13,000,000 | $ 10,000,000 | |
Commercial Portfolio Segment [Member] | Commercial letters-of-credit | ||||
Loss Contingencies [Line Items] | ||||
Maturity period of guarantee | 90 days |
OTHER REGULATORY MATTERS (Detai
OTHER REGULATORY MATTERS (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | |
Common Equity Tier One Risk Based Capital Conservation Buffer Plus Capital Required for Capital Adequacy to Risk Weighted Assets | 6.375% | |
Common Equity Tier One Capital Ratio | 9.65% | 10.01% |
Common Equity Tier One Capital | $ 8,271 | $ 8,041 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | |
Tier One Risk Based Capital Conservation Buffer Plus Capital Required for Capital Adequacy to Risk Weighted Assets | 7.875% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | |
Tier One Risk Based Capital to Risk Weighted Assets | 11.06% | 11.34% |
Tier One Leverage Capital | $ 9,478 | $ 9,110 |
Tier One Risk Based Capital | $ 9,478 | $ 9,110 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | |
Capital Conservation Buffer Plus Capital required for Capital Adequacy to Risk Weighted Assets | 9.875% | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | |
Capital to Risk Weighted Assets | 12.98% | 13.39% |
Capital | $ 11,122 | $ 10,757 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | |
Tier One Leverage Capital to Average Assets | 9.10% | 9.09% |
Bank | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.50% | |
Common Equity Tier One Risk Based Capital Conservation Buffer Plus Capital Required for Capital Adequacy to Risk Weighted Assets | 6.375% | |
Common Equity Tier One Risked Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | |
Common Equity Tier One Capital Ratio | 10.19% | 11.02% |
Common Equity Tier One Capital | $ 8,732 | $ 8,856 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | |
Tier One Risk Based Capital Conservation Buffer Plus Capital Required for Capital Adequacy to Risk Weighted Assets | 7.875% | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | |
Tier One Risk Based Capital to Risk Weighted Assets | 11.21% | 12.10% |
Tier One Leverage Capital | $ 9,611 | $ 9,727 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | |
Capital Conservation Buffer Plus Capital required for Capital Adequacy to Risk Weighted Assets | 9.875% | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | |
Capital to Risk Weighted Assets | 13.42% | 14.33% |
Capital | $ 11,504 | $ 11,517 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | |
Tier One Leverage Capital to Average Assets | 9.23% | 9.70% |
OTHER REGULATORY MATTERS - Narr
OTHER REGULATORY MATTERS - Narrative (Details) - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Banking and Thrift [Abstract] | ||
Average required reserve balance on deposits | $ 0 | $ 0 |
Amount bank could lend to single affiliate | 1 | |
Cash dividends paid to the holding company | $ 2 |
PARENT COMPANY FINANCIAL STAT_3
PARENT COMPANY FINANCIAL STATEMENTS - Balance Sheet (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||||
Cash and due from banks | $ 2,672 | $ 1,520 | $ 1,385 | $ 847 |
Accrued interest receivable and other assets | 2,288 | 2,151 | ||
Total assets | 108,781 | 104,185 | ||
Liabilities and shareholders’ equity | ||||
Long-term borrowings | 8,625 | 9,206 | ||
Other liabilities | 2,263 | 2,068 | ||
Total liabilities | 97,679 | 93,371 | ||
Shareholders’ equity | 11,102 | 10,814 | 10,308 | 6,595 |
Total liabilities and shareholders’ equity | 108,781 | 104,185 | ||
Parent Company | ||||
Assets | ||||
Cash and due from banks | 2,352 | 1,618 | $ 1,753 | $ 917 |
Due from The Huntington National Bank | 739 | 798 | ||
Due from non-bank subsidiaries | 40 | 58 | ||
Investment in The Huntington National Bank | 11,493 | 11,696 | ||
Investment in non-bank subsidiaries | 142 | 111 | ||
Accrued interest receivable and other assets | 239 | 252 | ||
Total assets | 15,005 | 14,533 | ||
Liabilities and shareholders’ equity | ||||
Long-term borrowings | 3,216 | 3,128 | ||
Other liabilities | 687 | 591 | ||
Total liabilities | 3,903 | 3,719 | ||
Shareholders’ equity | 11,102 | 10,814 | ||
Total liabilities and shareholders’ equity | $ 15,005 | $ 14,533 |
PARENT COMPANY FINANCIAL STAT_4
PARENT COMPANY FINANCIAL STATEMENTS - Income Statement (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest from: | |||||||||||
Other income | $ 180 | $ 185 | $ 157 | ||||||||
Expense | |||||||||||
Personnel costs | 1,559 | 1,524 | 1,349 | ||||||||
Other | 217 | 231 | 184 | ||||||||
Total noninterest expense | $ 711 | $ 651 | $ 652 | $ 633 | $ 633 | $ 680 | $ 694 | $ 707 | 2,647 | 2,714 | 2,408 |
Income before income taxes | 391 | 440 | 412 | 385 | 412 | 365 | 351 | 266 | 1,628 | 1,394 | 920 |
Provision (benefit) for income taxes | 57 | 62 | 57 | 59 | (20) | 90 | 79 | 59 | 235 | 208 | 208 |
Increase (decrease) in undistributed net income (loss) of: | |||||||||||
Net income | $ 334 | $ 378 | $ 355 | $ 326 | $ 432 | $ 275 | $ 272 | $ 207 | 1,393 | 1,186 | 712 |
Other comprehensive income (loss) | (80) | (34) | |||||||||
Parent Company | |||||||||||
Dividends from: | |||||||||||
The Huntington National Bank | 1,722 | 298 | 188 | ||||||||
Non-bank subsidiaries | 0 | 14 | 11 | ||||||||
Interest from: | |||||||||||
The Huntington National Bank | 27 | 20 | 14 | ||||||||
Non-bank subsidiaries | 2 | 2 | 3 | ||||||||
Other income | (2) | 4 | 0 | ||||||||
Total income | 1,749 | 338 | 216 | ||||||||
Expense | |||||||||||
Personnel costs | 2 | 19 | 12 | ||||||||
Interest on borrowings | 124 | 91 | 59 | ||||||||
Other | 118 | 115 | 123 | ||||||||
Total noninterest expense | 244 | 225 | 194 | ||||||||
Income before income taxes | 1,505 | 113 | 22 | ||||||||
Provision (benefit) for income taxes | (48) | (56) | (56) | ||||||||
Income before equity in undistributed net income of subsidiaries | 1,553 | 169 | 78 | ||||||||
Increase (decrease) in undistributed net income (loss) of: | |||||||||||
The Huntington National Bank | (186) | 1,015 | 629 | ||||||||
Non-bank subsidiaries | 26 | 2 | 5 | ||||||||
Net income | 1,393 | 1,186 | 712 | ||||||||
Other comprehensive income (loss) | (80) | (34) | (175) | ||||||||
Comprehensive income | $ 1,313 | $ 1,152 | $ 537 |
PARENT COMPANY FINANCIAL STAT_5
PARENT COMPANY FINANCIAL STATEMENTS - Cash Flow Statement (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating activities | |||||||||||
Net income | $ 334 | $ 378 | $ 355 | $ 326 | $ 432 | $ 275 | $ 272 | $ 207 | $ 1,393 | $ 1,186 | $ 712 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 493 | 413 | 380 | ||||||||
Net cash provided by (used in) operating activities | 1,726 | 1,954 | 1,215 | ||||||||
Investing activities | |||||||||||
Sales of available-for-sale securities | 1,419 | 2,490 | 6,154 | ||||||||
Cash paid for acquisitions, net of cash received | (15) | 0 | (133) | ||||||||
Payments for (Proceeds from) Other Investing Activities | (67) | (55) | (52) | ||||||||
Net cash provided by (used in) investing activities | (3,663) | (4,866) | (3,445) | ||||||||
Financing activities | |||||||||||
Decrease in short-term borrowings | 2,229 | 1,891 | 2,128 | ||||||||
Repayments of Long-term Debt | 2,798 | 948 | 1,275 | ||||||||
Net proceeds from issuance of medium-term notes | (3,025) | 1,371 | 1,900 | ||||||||
Net proceeds from issuance of preferred stock | 495 | 0 | 585 | ||||||||
Repurchases of common stock | (939) | (260) | 0 | ||||||||
Other, net | 5 | 11 | 21 | ||||||||
Net cash provided by (used for) financing activities | 3,089 | 3,047 | 2,768 | ||||||||
Increase (decrease) in cash and cash equivalents | 1,152 | 135 | 538 | ||||||||
Cash and cash equivalents at beginning of period | 1,520 | 1,385 | 1,520 | 1,385 | 847 | ||||||
Cash and cash equivalents at end of period | 2,672 | 1,520 | 2,672 | 1,520 | 1,385 | ||||||
Supplemental disclosures: | |||||||||||
Interest paid | 742 | 409 | 241 | ||||||||
Parent Company | |||||||||||
Operating activities | |||||||||||
Net income | 1,393 | 1,186 | 712 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed net income of subsidiaries | 197 | (997) | (634) | ||||||||
Depreciation and amortization | (2) | 4 | (1) | ||||||||
Other, net | 121 | (37) | (24) | ||||||||
Net cash provided by (used in) operating activities | 1,709 | 156 | 53 | ||||||||
Investing activities | |||||||||||
Repayments from subsidiaries | 21 | 442 | 464 | ||||||||
Advances to subsidiaries | (13) | (29) | (1,758) | ||||||||
Sales of available-for-sale securities | 0 | 1 | (2) | ||||||||
Cash paid for acquisitions, net of cash received | (15) | 0 | (133) | ||||||||
Net cash provided by (used in) investing activities | (7) | 414 | (1,429) | ||||||||
Financing activities | |||||||||||
Decrease in short-term borrowings | 0 | 0 | 1,990 | ||||||||
Repayments of Short-term Debt | (400) | 0 | 0 | ||||||||
Repayments of Long-term Debt | 0 | 0 | (65) | ||||||||
Net proceeds from issuance of medium-term notes | 501 | 0 | 0 | ||||||||
Net proceeds from issuance of long-term borrowings | 584 | 425 | 299 | ||||||||
Net proceeds from issuance of preferred stock | (495) | 0 | (585) | ||||||||
Repurchases of common stock | (939) | (260) | 0 | ||||||||
Other, net | (41) | (20) | 1 | ||||||||
Net cash provided by (used for) financing activities | (968) | (705) | 2,212 | ||||||||
Increase (decrease) in cash and cash equivalents | 734 | (135) | 836 | ||||||||
Cash and cash equivalents at beginning of period | $ 1,618 | $ 1,753 | 1,618 | 1,753 | 917 | ||||||
Cash and cash equivalents at end of period | $ 2,352 | $ 1,618 | 2,352 | 1,618 | 1,753 | ||||||
Supplemental disclosures: | |||||||||||
Interest paid | $ 126 | $ 90 | $ 36 |
SEGMENT REPORTING (Details)
SEGMENT REPORTING (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018USD ($)segments | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2018USD ($)segments | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | $ 833 | $ 802 | $ 784 | $ 770 | $ 770 | $ 758 | $ 745 | $ 729 | $ 3,189 | $ 3,002 | $ 2,369 |
Provision for credit losses | 60 | 53 | 56 | 66 | 65 | 43 | 25 | 68 | 235 | 201 | 191 |
Noninterest income | 329 | 342 | 336 | 314 | 340 | 330 | 325 | 312 | 1,321 | 1,307 | 1,150 |
Noninterest expense | 711 | 651 | 652 | 633 | 633 | 680 | 694 | 707 | 2,647 | 2,714 | 2,408 |
Provision (benefit) for income taxes | 57 | 62 | 57 | 59 | (20) | 90 | 79 | 59 | 235 | 208 | 208 |
Net income | 334 | $ 378 | $ 355 | $ 326 | 432 | $ 275 | $ 272 | $ 207 | 1,393 | 1,186 | 712 |
Total assets | 108,781 | 104,185 | 108,781 | 104,185 | |||||||
Deposits | $ 84,774 | 77,041 | $ 84,774 | 77,041 | |||||||
Number of Reportable Segments | segments | 4 | 4 | |||||||||
Operating Segments | Consumer & Business Banking | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | $ 1,685 | 1,549 | 1,224 | ||||||||
Provision for credit losses | 141 | 108 | 68 | ||||||||
Noninterest income | 738 | 735 | 649 | ||||||||
Noninterest expense | 1,696 | 1,647 | 1,339 | ||||||||
Provision (benefit) for income taxes | 123 | 185 | 163 | ||||||||
Net income | 463 | 344 | 303 | ||||||||
Total assets | $ 27,486 | 26,262 | 27,486 | 26,262 | |||||||
Deposits | 50,300 | 45,427 | 50,300 | 45,427 | |||||||
Operating Segments | Commercial Banking | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | 938 | 901 | 717 | ||||||||
Provision for credit losses | 38 | 30 | 79 | ||||||||
Noninterest income | 313 | 278 | 245 | ||||||||
Noninterest expense | 513 | 474 | 397 | ||||||||
Provision (benefit) for income taxes | 147 | 236 | 170 | ||||||||
Net income | 553 | 439 | 316 | ||||||||
Total assets | 34,818 | 32,067 | 34,818 | 32,067 | |||||||
Deposits | 23,185 | 21,286 | 23,185 | 21,286 | |||||||
Operating Segments | Vehicle Finance [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Noninterest income | 10 | ||||||||||
Total assets | 19,435 | 17,865 | 19,435 | 17,865 | |||||||
Deposits | 346 | 381 | 346 | 381 | |||||||
Operating Segments | Vehicle Finance | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | 403 | 424 | 344 | ||||||||
Provision for credit losses | 55 | 63 | 47 | ||||||||
Noninterest income | 10 | 14 | 15 | ||||||||
Noninterest expense | 149 | 149 | 118 | ||||||||
Provision (benefit) for income taxes | 44 | 79 | 68 | ||||||||
Net income | 165 | 147 | 126 | ||||||||
Operating Segments | RBHPCG | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | 192 | 172 | 153 | ||||||||
Provision for credit losses | 1 | 0 | (3) | ||||||||
Noninterest income | 193 | 188 | 177 | ||||||||
Noninterest expense | 250 | 243 | 229 | ||||||||
Provision (benefit) for income taxes | 28 | 41 | 36 | ||||||||
Net income | 106 | 76 | 68 | ||||||||
Total assets | 6,540 | 5,829 | 6,540 | 5,829 | |||||||
Deposits | 6,809 | 6,202 | 6,809 | 6,202 | |||||||
Treasury / Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Net interest income | (29) | (44) | (69) | ||||||||
Provision for credit losses | 0 | 0 | 0 | ||||||||
Noninterest income | 67 | 92 | 64 | ||||||||
Noninterest expense | 39 | 201 | 325 | ||||||||
Provision (benefit) for income taxes | (107) | (333) | (229) | ||||||||
Net income | 106 | 180 | $ (101) | ||||||||
Total assets | 20,502 | 22,162 | 20,502 | 22,162 | |||||||
Deposits | $ 4,134 | $ 3,745 | $ 4,134 | $ 3,745 |
QUARTERLY RESULTS OF OPERATIO_3
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $ 1,056 | $ 1,007 | $ 972 | $ 914 | $ 894 | $ 873 | $ 846 | $ 820 | $ 3,949 | $ 3,433 | $ 2,632 |
Interest expense | 223 | 205 | 188 | 144 | 124 | 115 | 101 | 91 | 760 | 431 | 263 |
Net interest income | 833 | 802 | 784 | 770 | 770 | 758 | 745 | 729 | 3,189 | 3,002 | 2,369 |
Provision for credit losses | 60 | 53 | 56 | 66 | 65 | 43 | 25 | 68 | 235 | 201 | 191 |
Noninterest income | 329 | 342 | 336 | 314 | 340 | 330 | 325 | 312 | 1,321 | 1,307 | 1,150 |
Noninterest expense | 711 | 651 | 652 | 633 | 633 | 680 | 694 | 707 | 2,647 | 2,714 | 2,408 |
Income before income taxes | 391 | 440 | 412 | 385 | 412 | 365 | 351 | 266 | 1,628 | 1,394 | 920 |
Provision for income taxes | 57 | 62 | 57 | 59 | (20) | 90 | 79 | 59 | 235 | 208 | 208 |
Net income | 334 | 378 | 355 | 326 | 432 | 275 | 272 | 207 | 1,393 | 1,186 | 712 |
Dividends on preferred shares | 19 | 18 | 21 | 12 | 19 | 19 | 19 | 19 | 70 | 76 | 65 |
Net income available to common shareholders | $ 315 | $ 360 | $ 334 | $ 314 | $ 413 | $ 256 | $ 253 | $ 188 | $ 1,323 | $ 1,110 | $ 647 |
Basic earnings per common share (in USD per share) | $ 0.30 | $ 0.33 | $ 0.30 | $ 0.29 | $ 0.38 | $ 0.24 | $ 0.23 | $ 0.17 | $ 1.22 | $ 1.02 | $ 0.72 |
Diluted earnings per common share (in USD per share) | $ 0.29 | $ 0.33 | $ 0.30 | $ 0.28 | $ 0.37 | $ 0.23 | $ 0.23 | $ 0.17 | $ 1.20 | $ 1 | $ 0.70 |