Financial institution holding firm headquartered in Columbus, Ohio
The Huntington Heart, the corporate’s headquarters
|Huntington Nationwide Financial institution|
|Previously||P. W. Huntington & Firm|
S&P 500 Index part
|Based||1866as P. W. Huntington & Firm in Columbus, Ohio|
|Colorado, Indiana, Kentucky, Minnesota, Michigan, Ohio, Pennsylvania, West Virginia, Illinois, and Wisconsin|
|Stephen D. Steinour, Chairman, President & CEO
Zachary Wasserman, CFO
|Income||US$4.815 Billion (Fiscal Yr Ended 31 December 2020)|
|US$972 Million (Fiscal Yr Ended 31 December 2020)|
|US$817 Million (Fiscal Yr Ended 31 December 2020)|
|Whole property||$175 billion (2021)|
|Whole fairness||US$12.993 Billion (Fiscal Yr Ended 31 December 2020)|
Variety of workers
|25,693 (2021) |
|Footnotes / references
Huntington Bancshares Integrated is an American financial institution holding firm headquartered in Columbus, Ohio. The corporate is ranked five hundredth on the Fortune 500, and is thirty fifth on the listing of largest banks in the US.
The corporate’s banking subsidiary, The Huntington Nationwide Financial institution, operates 920 banking workplaces, primarily within the Midwest: 459 in Ohio, 290 in Michigan, 51 in Pennsylvania, 45 in Indiana, 35 in Illinois, 29 in West Virginia,10 in Kentucky and, 32 in Colorado. In January 2009, the financial institution’s Board of Administrators named Steve Steinour as president, CEO, and chairman, succeeding Thomas Hoaglan, who retired after eight years in these positions.
The corporate is the second-largest originator of Small Enterprise Administration loans.
P. W. Huntington fashioned P. W. Huntington & Firm in 1866, working on the northwest nook of Excessive and Broad Streets; the positioning now homes the regional headquarters for rival U.S. Bancorp. Huntington constructed its first five-story constructing in 1878, on the intersection’s southwest nook. 4 out of 5 sons of P. W. would develop into companions in the course of the Eighteen Nineties and early 1900s. The financial institution was integrated in 1905 as The Huntington Nationwide Financial institution of Columbus. Huntington died in 1918 shortly after turning the financial institution over to his sons.
Francis Huntington grew to become president and offered lively management for 14 years. In 1915, the financial institution acquired restricted belief powers. In 1922, the financial institution acquired full belief powers from the Federal Reserve System. In 1923, Huntington bought Columbus-based the State Financial savings Financial institution & Belief Firm and the Hayden-Clinton Nationwide Financial institution of Columbus, swelling its capital base.
In 1958, Huntington acquired the Columbus-based The Market Change Financial institution Firm. In 1962, Huntington acquired each First Nationwide Financial institution of Grove Metropolis and The Folks’s Financial institution of Canal Winchester. In 1963, Huntington acquired each The Columbus Financial savings Financial institution and the Columbus-based The Northern Financial savings Financial institution. In 1966, Huntington Bancshares Integrated (HBI) was established as a financial institution holding firm.
In 1967, Huntington Bancshares acquired the Washington Courtroom Home-based The Washington Financial savings Financial institution. In 1969, it acquired the Ashland-based Farmers Financial institution. In 1970, it additionally acquired the Bowling Inexperienced-based The Financial institution of Wooden County Firm, the Toledo-based The Lucas County State Financial institution, and Lagonda Nationwide Financial institution of Springfield. In 1971, Huntington Bancshares acquired First Nationwide Financial institution & Belief Firm of Lima, The Woodville State Financial institution, and the Kent-based The Portage Nationwide Financial institution. In 1972, it acquired The First Nationwide Financial institution of Wadsworth and The First Nationwide Financial institution of Kenton, additionally establishing the primary 24-hour, absolutely automated banking workplace.
In 1973, Alger Financial savings Financial institution merged into an affiliate in Kenton, Ohio. In 1976, The Huntington Mortgage Firm fashioned as a subsidiary of Huntington Bancshares with The Pickerington Financial institution being merged into the financial institution. In 1977, Huntington Bancshares acquired The Bellefontaine Nationwide Financial institution, The Central Nationwide Financial institution of London, and Columbus-based The Franklin Nationwide Financial institution. In 1979, a loan manufacturing workplace opened in Dayton, Ohio.
In 1975, the corporate modified its emblem to its present “honeycomb” emblem.
In 1980, Farmers & Retailers Financial institution, Milford Heart and The First Nationwide Financial institution of Burton had been merged with Huntington Bancshares.
In 1981, the financial institution acquired Alexandria Financial institution Firm and renamed it The Huntington State Financial institution, with a loan manufacturing workplace opening in Cincinnati.
In 1982, the financial institution merged with the Reeves Banking and Belief Firm. Huntington acquired the tiny Financial savings Financial institution of Chillicothe, Ohio within the early Eighties, which gained some fame in 2011 when 100-year-old June Gregg revealed to Huntington officers that her father had opened a financial savings account for her as a child with Financial savings Financial institution in 1913 and that she had subsequently saved the account open. Huntington officers later confirmed it and gave her account a short lived improve in her rate of interest to five% as a centenarian current for her 98-year loyalty to Huntington and the Chillicothe department’s predecessor, Financial savings Financial institution.
In 1983, the financial institution acquired Cleveland-based Union Commerce Financial institution.
In 1997, the financial institution acquired First Michigan Financial institution Company of Holland, Michigan.
In 2002, the corporate offered its branches in Florida to SunTrust Banks for $705 million.
In March 2006, the corporate acquired Unizan Monetary.
In July 2007, the corporate acquired Sky Monetary Group Inc. dependent in Bowling Inexperienced, Ohio, which elevated its presence in Indiana and Ohio and expanded it into Western Pennsylvania for the primary time. As of 2021, Huntington is the sixth-largest financial institution within the Pittsburgh market by deposits.
In November 2008, the US Division of the Treasury invested $1.4 billion within the firm as a part of the Troubled Asset Aid Program and in December 2010, the corporate repaid the Treasury. The U.S. authorities made a revenue of over $144 million from its funding within the firm.
In 2009, Huntington bid in opposition to rival Fifth Third Financial institution to amass Nationwide Metropolis Corp. branches within the Pittsburgh area from PNC Monetary Providers. America Division of Justice ordered PNC to promote the branches to adjust to United States antitrust regulation considerations after the Nationwide Metropolis acquisition by PNC. Finally, PNC offered the overlapping branches to First Niagara Financial institution.
On October 3, 2009, the Federal Deposit Insurance coverage Company named Huntington as receiver of a $400 million deposit portfolio from the financial institution failure of Warren Financial institution in Warren, Michigan.
On December 18, 2009, Huntington signed a 45-day lease with the FDIC to run a bridge financial institution for the failed Residents State Financial institution in New Baltimore, Michigan.
In June 2011, three wordmarks and a pair of icons had been positioned on the highest of the 200 Public Sq. constructing in Cleveland, Ohio. The Constructing was previously named the BP Constructing and was headquarters to SOHIO from 1985 to 2011, when the brand was placed on the constructing.
In March 2012, the financial institution acquired Dearborn-based Constancy Financial institution.
In 2012, Huntington was in merger discussions with Flint, Michigan-based Residents Republic Bancorp. Discussions stalled and FirstMerit, which was itself acquired by Huntington in 2016, bought Residents Republic in September 2012.
Within the first quarter of 2013, Huntington modified its ATMs to new ones that permit clients to make deposits by inserting money and checks straight into the ATM. The financial institution began in 2014 providing ATM deposits from cell phones and thru on-line transfers till 11:59 p.m. and put up them that day.
In March 2014, the corporate acquired Ohio-based Camco Monetary, holding firm for Benefit Financial institution, for $97 million in inventory.
In September 2014, the corporate acquired 24 workplaces of Financial institution of America in Central Michigan, together with the Port Huron, Flint, and Saginaw markets. This raised the variety of Huntington branches in Michigan to 173, together with over 40 areas housed in Meijer shops.
In March 2015, the corporate acquired Michigan-based Macquarie Gear Finance, Inc. from Sydney, Australia-based Macquarie Group for $458 million.
In January 2016, Huntington introduced it will buy Akron-based FirstMerit Company for $3.4 billion, making it one of many largest banks in Ohio. Because of Sherman Antitrust Act considerations by the US Division of Justice, it offered 11 branches in Canton and two in Ashtabula to First Commonwealth Financial institution. Moreover, 107 branches situated inside 2.5 miles of different Huntington / FirstMerit branches had been closed.
In 2012, Huntington began displaying previous checks that had been written by well-known folks, together with 24 former U.S. Presidents comparable to Abraham Lincoln, George Washington, Thomas Jefferson, Andrew Jackson, Theodore Roosevelt, Franklin Roosevelt, and Niles, Ohio native William McKinley. Different checks had been signed by Charles Dickens, Thomas Edison, Ernest Hemingway, and Susan B. Anthony, amongst others. Essentially the most notable test was one written by Lincoln to “self” for $800 dated April 13, 1865, the day earlier than his assassination. The checks are estimated to be price over $75,000 at the moment. Huntington acquired the checks in 1983 when it bought Union Commerce Financial institution and acquired a number of packing containers of previous paperwork, however weren’t found till 2011 when a Huntington worker was trying by the paperwork.
Huntington Most well-liked Capital
Huntington Bancshares additionally operates Huntington Most well-liked Capital, Inc., an actual property funding belief (REIT). It was organized below Ohio regulation in 1992 and designated as a REIT in 1998. 4 associated events personal HPCI’s widespread inventory: Huntington Capital Financing LLC; Huntington Most well-liked Capital II, Inc.; Huntington Most well-liked Capital Holdings, Inc.; and Huntington Bancshares Integrated. All these entities are tied through possession and/or interlocking directorships to Huntington Bancshares, both straight or by Huntington Nationwide Financial institution.
Along with the widespread inventory, Huntington Most well-liked Capital additionally issued two million shares of most well-liked inventory, paying a quarterly money dividend of $0.4925 per share. This inventory is essentially held by the identical corporations because the widespread inventory, however a small fraction of the obtainable shares are offered on the open market. Huntington Most well-liked Capital had one subsidiary, HPCLI, Inc., a taxable REIT subsidiary fashioned in March 2001 for the aim of holding sure property (primarily leasehold enhancements). On December 31, 2007, Huntington Most well-liked Capital paid widespread inventory dividends consisting of money and the inventory of HPCLI to its widespread inventory shareholders. After the inventory dividend was paid, HPCLI grew to become a completely owned subsidiary of Huntington Most well-liked Capital Holdings, which holds all of the shares of HPCLI.
On December 13, 2020, Huntington administration introduced a merger with Detroit-based TCF Financial institution. Beneath the phrases of the merger settlement, the financial institution will retain the Huntington title with industrial banking headquartered in Detroit and retail banking dependent in Columbus. As a part of the merger, the corporate additionally introduced it will shut 198 branches because of overlap. This consists of all 97 branches situated inside Meijer shops in Michigan. Regulators introduced on Could 26, 2021 that TCF Financial institution can be required by the Division of Justice to promote 13 branches in Michigan. These branches had been bought by Horizon Financial institution on the finish of the third quarter. The ultimate approval has been given for the merger  and it was accomplished on June 9, 2021. The mixed financial institution has $175 billion in property.
The mixed financial institution may have two headquarters, Detroit for industrial banking and Columbus, Ohio for shopper banking. The merger allowed Huntington to enter Minnesota and Colorado for the primary time. The merged financial institution may have 1,100 branches stretching from West Virginia to Colorado; its most vital markets shall be Columbus, Detroit, Minneapolis-St. Paul, and Chicago. TCF branches had been transformed within the fourth quarter of 2021.
The Detroit workplace shall be dependent within the TCF Constructing at present below building in downtown Detroit, it will likely be renamed the Huntington Tower. Initially the constructing was going to deal with Chemical Financial institution, which moved its headquarters from Midland, Michigan to Detroit in July 2018. Nonetheless, on August 1, 2019, the merger between Chemical Financial institution and TCF was accomplished with the merged firm retaining the TCF title. Now with the merger of TCF and Huntington the constructing will doubtless home 800 workers of the mixed firm.
Huntington owns the naming rights to:
- “Huntington Bancshares, Inc. 2020 Annual Report Outcomes” (PDF). December 31, 2020. Retrieved June 7, 2021.
- Manes, Nick (June 9, 2021). “Huntington Financial institution completes acquisition of TCF”. Crain’s Detroit Enterprise. Retrieved June 9, 2021.
- “Huntington Bancshares Integrated 2017 Type 10-Okay Annual Report”. U. S. Securities and Change Fee.
- “Fortune 500: Huntington Bancshares”. Fortune.
- “Huntington Financial institution”. Financial institution Department Locator. Retrieved January 28, 2022.
- “Huntington hires Ex-Residents Monetary exec as CEO”. The Columbus Dispatch. January 14, 2009. Retrieved Could 17, 2020.
- Navera, Tristan (February 13, 2018). “Huntington Financial institution cites tax reform for spike in small enterprise loans”. Columbus Enterprise First.
- “Shaping Columbus: P.W. Huntington, founding father of Huntington Nationwide Financial institution”. Columbus Enterprise First. March 2, 2012. Retrieved January 30, 2016.
- “Timeline: Huntington Bancshares”.
- Whiteman, Doug (June 5, 2011). “Ohio lady, 100, nonetheless makes use of checking account relationship to 1913”. USA As we speak.
- Wheeler, Linda (January 17, 2012). “Was Lincoln doing a little monetary planning?”. The Washington Put up.
- “Huntington Bancshares Integrated Columbus, Ohio – Order Approving Acquisition of a Financial institution Holding Firm” (Press launch). Federal Reserve Board of Governors. September 2, 1997.
- “First Michigan purchased: Huntington Bancshares Inc. mentioned…” Chicago Tribune. Could 5, 1997.
- “Huntington to Purchase First Michigan Financial institution”. The New York Occasions. Bloomberg Information. Could 6, 1997.
- Salgat, Ken (February 18, 2002). “Huntington Nationwide Financial institution’s Tampa Bay place run over”. Tampa Bay Enterprise Journal.
- Flynn, Barry (September 26, 2001). “Suntrust Will Purchase Financial institution’s Branches”. Orlando Sentinel.
- Mollenkamp, Carrick; Perez, Evan (September 26, 2001). “SunTrust Banks to Pay $705 Million For Huntington’s Florida Enterprise”. The Wall Avenue Journal.
- “Huntington completes Unizan acquisition”. Dayton Enterprise Journal. March 1, 2006.
- “Huntington Bancshares To Purchase An Ohio Lender”. The New York Occasions. Related Press. January 28, 2004.
- “Huntington Bancshares and Sky Monetary Group Announce Merger Settlement” (Press launch). U.S. Securities and Change Fee. December 20, 2006.
- “Huntington Bancshares to Purchase Sky Monetary”. The New York Occasions. December 20, 2006.
- Mezger, Roger (September 21, 2007). “Huntington rebranding Sky Financial institution branches”. The Plain Supplier. Cleveland.
- Burns, Adrian (December 20, 2006). “Huntington agrees to purchase Sky Monetary”. Columbus Enterprise First.
- Turner, Shawn A. (December 20, 2006). “Huntington appears to be like to the Sky in $3.6B deal”. Crain’s Cleveland Enterprise.
- Sabatini, Patricia (October 6, 2021). “Main banks within the Pittsburgh area see deposits develop, variety of branches shrink”. Pittsburgh Put up-Gazette. Retrieved October 21, 2021.
- Kulikowski, Laurie (December 13, 2010). “Huntington Financial institution to Repay TARP”. TheStreet.com.
- “Huntington’s TARP reimbursement made”. Columbus Enterprise First. December 22, 2010.
- Aspan, Maria; Rauch, Joe (December 13, 2010). “Two banks define TARP reimbursement plans”. Reuters.
- Murray, Teresa Dixon (December 13, 2010). “Huntington to promote inventory to repay TARP to authorities”. The Plain Supplier. Cleveland.
- Sabatini, Patricia (March 21, 2009). “FNB will not purchase Nationwide Metropolis items”. Pittsburgh Put up-Gazette.
- Olson, Thomas (April 8, 2009). “First Niagara Financial institution buys 57 Nationwide Metropolis Financial institution branches from PNC”. Pittsburgh Tribune-Evaluation.
- “The Huntington Nationwide Financial institution, Columbus, Ohio, Assumes The entire Deposits of Warren Financial institution, Warren, Michigan” (Press launch). Federal Deposit Insurance coverage Company. October 2, 2009.
- van Doorn, Philip (October 3, 2009). “Three Extra Banks Fail”. TheStreet.com.
- Halcom, Chad (October 5, 2009). “Warren Financial institution accounts will convert to Huntington Nationwide Financial institution in 1Q of 2010”. Crain’s Detroit Enterprise.
- “FDIC Creates a Deposit Insurance coverage Nationwide Financial institution to Facilitate the Decision of Residents State Financial institution, New Baltimore, Michigan” (Press launch). Federal Deposit Insurance coverage Company. December 18, 2009.
- Henderson, Tom (December 21, 2009). “State shuts down Residents State Financial institution in New Baltimore”. Crain’s Detroit Enterprise.
- “Regulators shutter 2 large Calif. banks, 5 others”. The Oklahoman. Oklahoma Metropolis. Related Press. December 18, 2009.
- “Huntington Bancshares Purchases Constancy Financial institution in Southeastern Michigan” (Press launch). Huntington Bancshares. March 30, 2012 – through Enterprise Wire.
- Kaffer, Nancy (March 30, 2012). “Huntington Nationwide Financial institution acquires Constancy Financial institution after mum or dad Dearborn Bancorp dominated ‘unsafe and unsound’“. Crain’s Detroit Enterprise.
- “Huntington buys Michigan’s Constancy Financial institution from FDIC”. Columbus Enterprise First. April 2, 2012.
- “FDIC: Failed Financial institution Data: Constancy Financial institution, Dearborn, MI Closing Data” (Press launch). Federal Deposit Insurance coverage Company. July 9, 2018.
- Rouan, Rick (September 13, 2012). “FirstMerit Corp., not Huntington, buys Residents Republic Bancorp in inventory deal”. Columbus Enterprise First.
- “FirstMerit to amass Residents Republic financial institution”. The Blade. Toledo. September 14, 2012.
- Williams, Mark (February 18, 2013). “Huntington switching to ATMs that may do extra”. The Columbus Dispatch.
- Murray, Teresa Dixon (April 18, 2014). “Huntington Financial institution expands deposit instances till midnight, provides to ‘honest play’ technique”. The Plain Supplier. Cleveland.
- “Huntington Bancshares Expands in Ohio with Closing of Acquisition of Camco Monetary, Dad or mum of Benefit Financial institution” (Press launch). Huntington Bancshares. March 4, 2014 – through Enterprise Wire.
- “Huntington Bancshares Integrated Strengthens Its Quantity One Department Share in Ohio With the Acquisition of Ohio Based mostly Camco Monetary” (Press launch). Huntington Bancshares. October 10, 2013 – through Globe Newswire.
- Weese, Evan (February 26, 2014). “Huntington-Camco deal to shut March 1”. Columbus Enterprise First.
- Nemeroff, Evan (March 5, 2014). “Huntington Completes Camco Deal, Consolidates Branches”. American Banker.
- “Huntington Bancshares Expands in Michigan with the Finalization of Its Acquisition of 24 Financial institution of America Branches” (Press launch). Huntington Bancshares. September 16, 2014 – through Enterprise Wire.
- Weese, Evan (September 16, 2014). “Huntington places its stamp on Financial institution of America branches in Michigan”. Columbus Enterprise First.
- Dresden, Eric (Could 14, 2014). “Huntington Financial institution buys 13 branches to Flint-area, Monroe, Muskegon in $500 million deal”. The Flint Journal.
- “Huntington Bancshares Finalizes Acquisition of Macquarie Gear Finance, Inc” (Press launch). Huntington Bancshares. April 1, 2015 – through Enterprise Wire.
- Chen, Angela; Steinberg, Julie (February 24, 2015). “Huntington to Purchase Macquarie Gear Finance”. The Wall Avenue Journal.
- Weese, Evan (Could 7, 2015). “Huntington paid $458M for Macquarie Gear, submitting reveals”. Columbus Enterprise First.
- Lin-Fisher, Betty (January 25, 2016). “Huntington to amass Akron-based FirstMerit”. Akron Beacon Journal.
- Nobile, Jeremy (July 27, 2016). “First Commonwealth Financial institution to amass 13 branches divested in Huntington, FirstMerit merger”. Crain’s Cleveland Enterprise.
- Mark, Williams (March 11, 2016). “Huntington to shut 107 workplaces as a part of FirstMerit acquisition”. The Columbus Dispatch.
- Mark, Williams (August 16, 2016). “Huntington closes FirstMerit deal”. The Columbus Dispatch.
- Murray, Teresa Dixon (January 26, 2016). “Huntington’s buy of FirstMerit will imply department closures, job loss”. The Plain Supplier. Cleveland.
- Murray, Teresa Dixon (January 11, 2012). “Huntington Financial institution discovers unique checks signed by Lincoln, Washington, Edison, Twain and others”. The Plain Supplier. Cleveland.
- “Verify Lincoln wrote day earlier than assassination is discovered”. Day by day Herald. Arlington Heights, Illinois. Related Press. January 14, 2012.
- “Cached at Huntington: Lincoln’s Final-Recognized Verify”. The Wall Avenue Journal. November 26, 2011.
- “Huntington Most well-liked Capital, Inc. 2017 Type 10-Okay Annual Report”. U.S. Securities and Change Fee.
- “Huntington Bancshares And TCF Monetary Company Announce Merger To Create Prime 10 U.S. Regional Financial institution” (Press launch). TCF Financial institution. December 13, 2020. Retrieved December 14, 2020.
- Manes, Nick (December 13, 2020). “Huntington to amass TCF Financial institution in $22 billion deal”. Crain’s Detroit Enterprise. Retrieved December 14, 2020.
- Rendl, J C (January 26, 2021). “Huntington, TCF to shut 198 branches for deliberate merger”. Detroit Free Press. Retrieved January 27, 2021 – through The Holland Sentinel.
- Reindl, J C (Could 25, 2021). “Justice Division forces Huntington, TCF to promote 13 financial institution branches for merger”. Detroit Free Press. Retrieved Could 26, 2021.
- Ramirex, Charles (June 9, 2021). “Huntington Financial institution-TCF’s $22B all-stock merger accomplished”. The Detroit Information. Retrieved June 9, 2021.
- Turner, Grace (July 25, 2018). “Chemical Financial institution Strikes its Headquarters to Downtown Detroit, Plans to Construct 20-story Workplace Tower”. D Enterprise Day by day Information. Retrieved June 9, 2021.
- “TCF Nationwide Financial institution Completes Integration with Chemical Financial institution, Creating Sturdy Basis to Strengthen People, Companies and the Group” (Press launch). TCF Financial institution. August 10, 2020. Retrieved September 14, 2021 – through Enterprise Wire.
- Tompor, Susan (December 13, 2020). “Huntington and TCF Monetary to merge in $22 billion deal”. Detroit Free Press. Retrieved June 9, 2021.
- Vellequette, Larry (April 16, 2010). “Downtown Toledo area will get a brand new title; financial institution agrees to buy rights for $2.1 million”. The Blade. Toledo. Retrieved November 14, 2012.
- Murray, Teresa Dixon (April 6, 2016). “Huntington Financial institution buys early naming rights to Cleveland Conference Heart earlier than RNC”. The Plain Supplier. Cleveland.
- Weese, Evan (April 6, 2016). “Huntington lands large naming rights deal in Cleveland forward of GOP conference”. Columbus Enterprise First.
- Ramirez, Charles E. (December 9, 2021). “Detroit’s TCF Heart adjustments title to Huntington Place”. The Detroit Information. Retrieved December 27, 2021.