Exhibit 99.1
FOR IMMEDIATE RELEASE
September 18, 2009
|
|
|
|
|
|
|
Contacts: |
|
|
|
|
|
|
Analysts
|
|
|
|
Media |
|
|
Jay Gould
|
|
(614) 480-4060
|
|
Maureen Brown
|
|
(614) 480-5512 |
Jim Graham
|
|
(614) 480-3878 |
|
|
|
|
HUNTINGTON BANCSHARES PRICES
$400 MILLION COMMON STOCK OFFERING
COLUMBUS, Ohio Huntington Bancshares Incorporated (NASDAQ: HBAN) today announced that it
priced an offering of 95.2 million shares of its common stock at a
price to the public of $4.20 per
share, or $400.0 million in aggregate gross proceeds. Underwriters will have a 30-day option to
purchase up to an additional 14.3 million shares of common stock from Huntington.
Goldman Sachs & Co. is acting as bookrunning manager for the offering with Sandler ONeill &
Partners, L.P. acting as co-manager.
We are very pleased with the pricing and investor receptivity to this offering, said Stephen
D. Steinour, chairman, president, and chief executive officer. As a result of this offering, our
common equity position will be significantly strengthened. Importantly, this will provide
additional resources to more aggressively position the company for growth in our core businesses
and for better long-term financial performance.
Other Information
Huntington has an existing shelf registration statement (including a base prospectus) on file
with the Securities and Exchange Commission and has filed a prospectus supplement related to the
common equity issuance described above. Prospective investors should read the registration
statement (including the base prospectus), the preliminary prospectus supplement, the final
prospectus supplement (when available) and other documents Huntington has filed with the SEC for
more complete information about Huntington and the offering before investing. Investors may get
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively,
Huntington, any underwriter or any dealer participating in the offering will arrange to send
investors the prospectus if requested by contacting Goldman, Sachs & Co., Attention: Prospectus
Department, 85 Broad Street, New York, NY 10004, telephone: 866-471-2526, fax: 212-902-9316, email:
Prospectus-ny@ny.email.gs.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy
any Huntington common stock, and nor shall there be any sale or purchase of securities Huntington
common stock in any state or jurisdiction in which such an offer, solicitation, sale or purchase
would be unlawful. Unless an exemption from the securities laws is available, any offering of
Huntington common stock may be made only by means of an effective
- 1 -
registration statement (including
related base prospectus) and prospectus supplement.
Forward-looking Statement
This press release contains certain forward-looking statements, including certain plans,
expectations, goals, projections, and statements, which are subject to numerous assumptions, risks,
and uncertainties. Actual results could differ materially from those contained or implied by such
statements for a variety of factors including: (1) deterioration in the loan portfolio could be
worse than expected due to a number of factors such as the underlying value of the collateral could
prove less valuable than otherwise assumed and assumed cash flows may be worse than expected; (2)
changes in economic conditions; (3) movements in interest rates; (4) competitive pressures on
product pricing and services; (5) success and timing of other business strategies; (6) the nature,
extent, and timing of governmental actions and reforms, including existing and potential future
restrictions and limitations imposed in connection with the Troubled Asset Relief Programs
voluntary Capital Purchase Plan or otherwise under the Emergency Economic Stabilization Act of
2008; (7) extended disruption of vital infrastructure; and (8) the total shares sold under the
common stock offering. Additional factors that could cause results to differ materially from those
described above can be found in Huntingtons 2008 Annual Report on Form 10-K, and documents
subsequently filed by Huntington with the Securities and Exchange Commission. All forward-looking
statements included in this release are based on information available at the time of the release.
Huntington assumes no obligation to update any forward-looking statement.
About Huntington
Huntington Bancshares Incorporated is a $51 billion regional bank holding company
headquartered in Columbus, Ohio. Huntington has more than 143 years of serving the financial needs
of its customers. Through our subsidiaries, including our banking subsidiary, The Huntington
National Bank, we provide full-service commercial and consumer banking services, mortgage banking
services, equipment leasing, investment management, trust services, brokerage services, customized
insurance service program, and other financial products and services. Our over 600 banking offices
are located in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia. Huntington also
offers retail and commercial financial services online at huntington.com; through its
technologically advanced, 24-hour telephone bank; and through its network of almost 1,400 ATMs. The
Auto Finance and Dealer Services group offers automobile loans to consumers and commercial loans to
automobile dealers within our six-state banking franchise area. Selected financial service
activities are also conducted in other states including: Private Financial Group offices in Florida
and Mortgage Banking offices in Maryland and New Jersey. International banking services are
available through the headquarters office in Columbus and a limited purpose office located in both
the Cayman Islands and Hong Kong.
###
- 2 -