COLUMBUS, Ohio -- (Business Wire)
Huntington (NASDAQ: HBAN; www.huntington.com)
has announced that it is expanding its successful auto dealer financing
business into Connecticut and has added key personnel into the state to
support the initiative.
“The addition of Connecticut completes Huntington’s expansion strategy
of providing auto dealer financing into the New England region,” said
Rich Porrello, director of Huntington Automobile Finance. “After
becoming a meaningful partner with the existing dealers in the New
England states we serve, we want to bring our indirect platform to the
Connecticut dealers who want to be affiliated with a bank that offers a
proven track record of consistent underwriting, rapid funding, and
superior customer service.”
Huntington has hired a seasoned team with local market knowledge for the
state. Huntington is processing applications now and expects to provide
financing solutions to more than 140 dealers throughout Connecticut.
“Our success in the Midwest and New England region proves we have a
successful business model, one that we now bring to auto dealers in
Connecticut,” Porrello added.
Huntington Automobile Finance (HAF) has continually met the financial
needs of automotive dealers for more than 60 years. This includes the
financing of new and used automobiles purchased by the dealer’s retail
customers, as well as commercial loans to the dealer primarily to
finance new and used vehicle inventory. Dealerships served are located
within Huntington’s primary banking markets of Ohio, Michigan,
Pennsylvania, Indiana, West Virginia, and Kentucky, and selected other
markets including, Minnesota, Wisconsin, Tennessee, New Jersey and six
New England states: Maine, Vermont, New Hampshire, Massachusetts, Rhode
Island and Connecticut.
Huntington Bancshares Incorporated is a $56 billion 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 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 1,300
ATMs. Through automotive dealership relationships within its six-state
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.
The Huntington National Bank, Member FDIC. The logo mark and
Huntington® are federally registered service
marks of Huntington Bancshares Incorporated.
Cynthia Kincaid, 614-480-5415
Source: Huntington Bancshares Incorporated
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