Welcome to our dedicated page for Huntington Bancshares news (Ticker: HBAN), a resource for investors and traders seeking the latest updates and insights on Huntington Bancshares stock.
Huntington Bancshares Inc. (symbol: HBAN) is a prominent regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, Huntington operates through a robust network of over 750 branches and more than 1,500 ATMs across six midwestern states. With assets exceeding $189 billion, Huntington provides a wide array of financial services to consumers, small businesses, and corporations.
The company's primary business segments include Consumer & Regional Banking and Commercial Banking. The Consumer & Business Banking segment is the primary revenue driver, while the Commercial Banking segment offers specialized services such as auto dealer financing, equipment finance, national settlement, and capital market services.
Huntington's product offerings are comprehensive, covering consumer banking, small business solutions, commercial banking, treasury management, wealth management, brokerage, trust, and insurance services. The company's affiliations extend beyond its core states, providing national settlement and capital market services.
2023 was a notable year for Huntington, marked by strategic initiatives and a dynamic banking environment. The company achieved sustained deposit growth, enhanced capabilities across payments and other fee-based services, and completed a business segment re-alignment to improve customer focus and operational efficiency. Furthermore, Huntington expanded its commercial and regional banking into the Carolinas, bolstering its specialty banking expertise by adding new teams.
In the fourth quarter of 2023, Huntington reported a net income of $243 million, reflecting the company's disciplined approach to managing credit quality and moderate-to-low risk appetite. Despite a decrease from the previous year, the company maintained robust liquidity and capital, positioning it for continued growth. Huntington's strategic focus remains on organic growth, expanding deposit and loan balances, and leveraging its strong brand and customer trust metrics.
As of the first quarter of 2024, Huntington reported a net income of $419 million, highlighting sustained organic growth and robust pipelines in new and existing markets. The company's credit quality remained stable, and the economic outlook was constructive, supporting the performance of its customers.
Huntington Bancshares' financial results and strategic initiatives underscore its commitment to growth, profitability, and customer service. The company's earnings releases and financial supplements provide detailed performance metrics and are available on its Investor Relations website.
For more information, visit Huntington.com.
Capstone Partners has released its 2024 Women Entrepreneurs Study, analyzing over 200 female business owners in the U.S. The study reveals that 59% of women CEOs prioritize market penetration, and 53.8% focus on expanding their product or service portfolios. While only 18.1% have engaged in M&A activities, 36.7% are considering it as an exit strategy, with 64% of CEOs aged 18-34 being approached by sponsors. Preparedness for exit is higher than perceived, with 74.8% completing at least one preparation step. Major concerns include inflation (55%) and customer retention (35%). Funding challenges persist, with only 6.1% of VC deals in 2023 going to female founders, and average deal sizes significantly smaller than those for male counterparts.
Huntington Bancshares (Nasdaq: HBAN) announced the appointment of Angie Klett as President of Huntington Insurance, Inc., effective July 1, 2024. Klett succeeds Mary Beth Sullivan, who is retiring after nearly 20 years at Huntington. Klett will oversee the growth and management of Huntington Insurance's various segments, including commercial, employee benefits, life, personal lines, and title and captive insurance. Before joining Huntington, Klett was a Senior Vice President at Nationwide Insurance, where she led mergers, acquisitions, and strategic partnerships. Huntington Bancshares, a $194 billion asset regional bank, offers a range of financial services and operates approximately 970 branches across 11 states.
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