Automotive Business: Huntington Expands Dealer Financing
November 5, 2010 (FinancialWire) (http://www.financialwire.net/) — Huntington Bancshares (NASDAQ: HBAN) said that it is expanding its auto dealer financing business into five New England states.
The banking firms said that, in addition to currently offering financing to auto dealers in six states in the Midwest, Huntington will now offer these services in Massachusetts, Rhode Island, Vermont, New Hampshire, and Maine.
The company said it expects to add 13 jobs in the next six months to support the sales and underwriting functions of the expansion, to be located within the new market areas.
Huntington anticipates that it will offer financing options to around 500 dealers in the northern New England area over the coming year.
Huntington has provided new and used automobile financing and dealer services throughout the Midwest since the early 1950s, and currently serves customers in Ohio, Kentucky, Indiana, Michigan, West Virginia and Pennsylvania.
Ohio-based Huntington Bancshares is a regional bank holding company that has more than 600 branches.
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