Profile: Huntington Bancshares Inc (HBAN.O)
15 Jul 2019
Huntington Bancshares Incorporated (Huntington), incorporated on April 14, 1966, is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services. Its segments include Consumer and Business Banking, Commercial Banking, Commercial Real Estate and Vehicle Finance, Regional Banking and The Huntington Private Client Group, Home Lending and Treasury/Other.
The Bank offers commercial and consumer loans. Its consumer loans include automobile, home equity, residential mortgage, and recreational vehicle (RV) and marine finance loans. As of December 31, 2016, the Bank's total loans amounted to $67 billion. As of December 31, 2016, the Bank's total securities available for sale amounted to $312.8 million. Its primary sources of funding for the Bank are retail and commercial core deposits. It offers demand deposits-noninterest-bearing, demand deposits-interest-bearing, money market deposits, savings and other domestic deposits, and core certificates of deposit. As of December 31, 2016, the Bank's total deposits amounted to $76.9 million.
Consumer and Business Banking
The Consumer and Business Banking segment provides a range of financial products and services to consumer and small business customers, including checking accounts, savings accounts, money market accounts, certificates of deposit, investments, consumer loans, credit cards and small business loans. Other financial services available to consumer and small business customers include mortgages, insurance, interest rate risk protection, foreign exchange, and treasury management. Huntington serves customers through its network of branches in Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, West Virginia, and Wisconsin. In addition to its branch network, customers can access Huntington through online banking, mobile banking, telephone banking and automated teller machines (ATMs).
The Commercial Banking segment provides a range of products and services to the middle market, large corporate and government public sector customers. The segment is divided into seven business units: middle market, large corporate, specialty banking, asset finance, capital markets, treasury management and insurance. Middle Market Banking primarily focuses on providing banking solutions. Specialty Banking offers tailored products and services to various industries that have a foothold in the Midwest. Asset Finance is a combination of its Equipment Finance, Public Capital, Asset Based Lending, Technology and Healthcare Equipment Leasing, and Lender Finance divisions that focus on providing financing solutions against these respective asset classes. Capital Markets has two product offerings: corporate risk management services and institutional sales, trading, and underwriting. The Capital Markets Group offers a suite of risk management tools, including commodities, foreign exchange and interest rate hedging services. Treasury Management teams help businesses manage their working capital programs. Insurance brokerage business specializes in commercial property and casualty, employee benefits, personal lines, life, disability and specialty lines of insurance. It also provides brokerage and agency services for residential and commercial title insurance and excess and surplus product lines of insurance.
Commercial Real Estate and Vehicle Finance
The Commercial Real Estate and Vehicle Finance segment provides lending and other banking products and services to customers outside of its retail and commercial banking segments. Its products and services include providing financing for land, buildings, and other commercial real estate owned or constructed by real estate developers, automobile dealerships, or other customers with real estate project financing needs, and financing for the purchase of automobiles, light-duty trucks, recreational vehicles and marine craft at franchised dealerships, financing the acquisition of new and used vehicle inventory of franchised automotive dealerships. The Commercial Real Estate team serves real estate developers, real estate investment trusts (REITs), and other customers with lending needs that are secured by commercial properties. The Vehicle Finance team services automobile dealerships, its owners, and consumers buying automobiles through these franchised dealerships.
Regional Banking and The Huntington Private Client Group
The business of The Huntington Private Client Group is The Huntington Private Bank, which consists of Private Banking, Wealth and Investment Management, and Retirement plan services. The Huntington Private Bank provides high net-worth customers with deposit, lending (including specialized lending options), and banking services. The Huntington Private Bank also delivers wealth management and legacy planning through investment and portfolio management, fiduciary administration, and trust services. It also provides retirement plan services to corporate businesses. The Huntington Private Client Group also provides corporate trust services and institutional and mutual fund custody services.
The Home Lending segment originates and services consumer loans and mortgages for customers located in its primary banking markets. Consumer and mortgage lending products are primarily distributed through the Consumer and Business Banking and Regional Banking and The Huntington Private Client Group segments, as well as through commissioned loan originators. Home Lending supports the origination and servicing of mortgage loans across various segments.
The Treasury/Other segment includes its technology and operations. Its other assets include investment securities and bank-owned life insurance.
Huntington Bancshares Inc
41 S High St Hc0917, Huntington
COLUMBUS OH 43287-0001