Huntington is Top Auto Lender in Ohio for Fourth Quarter
Expertise in auto dealer financing boosts Huntington to top spot
COLUMBUS, Ohio, Jan. 28 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated's (Nasdaq: HBAN; www.huntington.com) Auto Finance & Dealer Services group was the No. 1 lender in Ohio for the fourth quarter of 2009. Huntington's share of loans for financing the sales of new and used cars and trucks through franchised automobile dealers more than doubled from the fourth quarter of 2008.
The ranking places Huntington ahead of all other banks and also outpaces captive finance companies such as Toyota Financial Services, GMAC and Ford Motor Credit, which have traditionally dominated the market.
"Our success is the result of 50 years of focusing on the auto dealership as our customer," said Nick Stanutz, senior executive vice president and Auto Finance & Dealer Services group executive. "We have the knowledge, trained staff and track-record needed to help dealers make the right financial decisions for their businesses and their customers.
"What is more important is that we are making credit available in the Midwest for car and light truck buyers," Stanutz added. "We help provide financing options for our dealership customers to sell cars that in turn helps automobile manufacturers and related suppliers in the states we serve."
Huntington has been in the auto finance and dealer services business since the early 1950's. It provides new and used automobile financing for 2,000 dealerships in the Midwest, as well as a line of banking services for many of those same dealers.
Huntington Bancshares Incorporated is a $52 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has been providing a full range of financial services including checking, loans, savings, insurance and investment services to customers for 143 years. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, telephone bank; and through its network of nearly 1,400 ATMs.
SOURCE Huntington Bancshares Incorporated
Released January 28, 2010