Huntington Earns Top Awards for Small Business Lending in Michigan
SBA recognizes Huntington as "Lender of the Year" for second consecutive year
COLUMBUS, Ohio and DETROIT, April 18, 2011 /PRNewswire/ -- For the second year in a row, Huntington (NASDAQ: HBAN) (www.huntington.com) has supported more small businesses in Michigan than any other bank, according to the U.S. Small Business Administration's Michigan District Office.
The SBA named Huntington as Michigan's "Lender of the Year," the organization's award for best overall performance, for approving 262 SBA loans worth more than $52.7 million in fiscal year 2010. In addition, Huntington was named "SBAExpress Lender of the Year" for approving 207 SBAExpress loans, and "PLP Lender of the Year" (tied with Citizens Bank) for the most loans approved by a preferred lender.
"Huntington has made an aggressive commitment to support small businesses in Michigan, and throughout the Midwest, because of the vital role our region will play in driving the economy forward," said Mike Fezzey, Huntington's SE Michigan regional president. "2010 was a difficult year for many businesses, but we're excited about the impact we're making in Michigan and grateful for programs like the SBA, which provide a much-need lifeline for businesses to support growth."
Huntington is the fourth largest SBA lender in the country by number of loans and the No. 1 SBA 7(a) lender cumulatively, both in the number of loans made and overall dollar amount of those loans, within its six-state Midwest market.* Including SBA lending, Huntington utilizes 14 various government-lending programs to help small businesses, including state and local lending, and agriculture and rural development loan programs.
In 2010, Huntington committed $4 billion over a three-year period to small business lending. In 2010, Huntington lent $1.1 billion to small business, meeting the bank's plan for a stepped increase in small business lending through 2012 and beyond.
"Over the past two years, Huntington has uniquely positioned itself to be the bank for small businesses in the Midwest. We will continue to drive initiatives that support small business growth, working closely with our customers to find ways to offer credit and cost savings," said Steve Rhodes, Huntington's director of business banking. "We are committed to small business because we know these companies are the job-generating engine needed to turn around the Midwest economy and create the opportunities that will continue to build workforce talent and support growth."
Huntington Bancshares Incorporated is a $54 billion regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, it provides 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 product and services. The principal markets for these services are Huntington's six-state banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of over 600 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 over 1,300 ATMs. Through automotive dealership relationships within its six-state banking franchise area and selected New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
*Source: U.S. SBA from October 1, 2007, through December 31, 2010.
Member FDIC. The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.
SOURCE Huntington Bancshares Incorporated
Released April 18, 2011