Huntington Bancshares Expands in Michigan with the Finalization of Its Acquisition of 24 Bank of America Branches
Customers at those branches can now enjoy Huntington’s innovative products and services
COLUMBUS, Ohio--(BUSINESS WIRE)-- Huntington Bancshares Incorporated (NASDAQ: HBAN), through its subsidiary Huntington National Bank, has completed its acquisition of 24 Bank of America branches in Michigan, Huntington announced today. The purchase increases the number of Huntington branches in areas of the state where the bank already has a presence and opens up new markets in Flint, Monroe and Saginaw.
The purchase was finalized and the branches were converted to deliver Huntington products and services the weekend of Sept. 12-14. This brings the number of Huntington branches in Michigan to 184, including 40 branches in Meijer stores. Huntington will also obtain approximately $750 million in deposits.
“Huntington’s Michigan customers will now enjoy more convenience and accessibility to our 700 plus branch network,” said Steve Steinour, chairman, president and CEO of Huntington. “Our new customers can now sign up for one of Huntington’s innovative products including the Voice Credit Card® and Asterisk Free Checking® an account that has no minimum balance requirement and comes with 24-Hour Grace ® overdraft protection fee relief. New small business customers can also begin working with Huntington’s business bankers, who have helped the bank become the largest SBA 7(a) lender in the country in number of loans as of the third quarter of the Small Business Administration fiscal year.”
Huntington’s conversion of its newest Michigan branches comes at a time of ongoing Michigan growth for the company, notably with the Meijer in-store branch expansion launched in 2012. Huntington also announced in late 2013 a partnership for the Pure Michigan Micro Lending Initiative that will create Huntington-backed community microlending partnerships throughout the state. Huntington has also exceeded a $2 billion commercial and small business lending goal established for the state in 2011 ahead of its scheduled commitment.
Additionally, Huntington recently donated $250,000 to support the American Red Cross, Southeastern Michigan Region, in its efforts to provide food and other needed services to those Detroit-area residents affected by the recent devastating floods.
For more information on Huntington products and services, customers can call 1-800-480-BANK (2265) or visit www.Huntington.com.
Huntington Bancshares Incorporated is a $64 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, and its affiliates provide full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,400 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
Source: Huntington Bancshares Incorporated
Released September 16, 2014