Huntington Bank is No. 1 SBA Lender in the Country for Number of 7(a) Loans at Mid-Year
Huntington continues to rank as top SBA 7(a) lender in its markets for both number of loans and volume of dollars lent
COLUMBUS, Ohio--(BUSINESS WIRE)-- Huntington Bank has climbed to the top spot in the country with the highest number of Small Business Administration (SBA) 7(a) loans for the first half of the SBA’s fiscal year ending March 31, the bank announced today. The ranking is particularly noteworthy because the bank is 33rd in the country in terms of assets and only makes SBA loans within its six-state footprint.
The mid-year ranking means Huntington has moved up from its position as the third-largest SBA lender in the nation by number of 7(a) loans, which it has held for several years. Additionally, Huntington has made more than half of the SBA 7(a) loans in its footprint for the first six months of the fiscal year. During the time period, from Oct. 1, 2013-March 31, 2014, Huntington made 1,804 loans while the remainder of the industry made 1,758 loans in Huntington’s service area.
“Small businesses are the foundation of our Main Street economies throughout the United States,” said Steve Steinour, chairman, president and CEO of Huntington Bank. “These businesses generate two-thirds of all of new jobs and help keep our neighborhoods healthy. Huntington is committed to supporting small business growth as a key way to strengthen our communities as they continue through the economic recovery.”
Huntington’s combined mid-year No. 1 ranking for number of 7(a) loans and dollar volume among the states it serves includes:
|1,050 loans totaling $118,900,300|
|472 loans totaling $66,091,700|
|116 loans totaling $23,695,500|
|90 loans totaling $10,632,400|
|37 loans, totaling $7,635,400|
Additionally, Huntington made more SBA 7(a) loans in Ohio, Michigan and West Virginia than all of its competitors combined during the first half of the current SBA fiscal year.
Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, 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 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 1,500 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.
Released April 16, 2014