Magi Astrology


FINANCIAL ASTROLOGY

First Trade Date for Huntington Bancshares Incorporated

 

 

Company NameFirst Trade Date (yyyy-mm-dd)
Huntington Bancshares Incorporated1970-11-02

Company NameSymbol
Huntington Bancshares IncorporatedHBAN
History and Business of Company
(this information may include date of incorporation)
Huntington Bancshares Incorporated (Huntington or the company) is a multi-state diversified financial holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through its subsidiaries, Huntington is engaged in providing full-service commercial and consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, and discount brokerage services, as well as underwriting credit life and disability insurance, and selling other insurance and financial products and services. The Huntington National Bank (the Bank), organized in 1866, is Huntington's only bank subsidiary. At December 31, 2003, Huntington Bank had 162 banking offices in Ohio, 114 banking offices in Michigan, 25 banking offices in West Virginia, 22 banking offices in Indiana, 12 banking offices in Kentucky, 3 private banking offices in Florida, one foreign office in the Cayman Islands and one foreign office in Hong Kong. Selected financial services, including those of Huntington Mortgage Group, a division of Huntington Bank, are also conducted in other states including Arizona, Florida, Georgia, Maryland, New Jersey, Pennsylvania, and Tennessee. Foreign banking activities, in total or with any individual country, are not significant to the operations of Huntington. At December 31, 2003, Huntington and its subsidiaries had 7,983 full-time equivalent employees.

A discussion of Huntington's lines of business can be found in its Management's Discussion and Analysis of Financial Condition and Results of Operations included in Huntington's 2003 Annual Report to Shareholders, portions of which are filed as exhibit 13 to this report and incorporated herein by reference. The financial statement results for each line of business can be found in Note 17 of the Notes to Consolidated Financial Statements included in Huntington's 2003 Annual Report to Shareholders, portions of which are filed as exhibit 13 to this report and incorporated herein by reference.

Competition is intense in most of the markets Huntington serves. Huntington competes on price and service with other banks and financial companies such as savings and loans, credit unions, finance companies, mortgage banking companies, insurance companies, and brokerage firms. Competition could intensify in the future as a result of industry consolidation, the increasing availability of products and services from non-banks, greater technological developments in the industry, and banking reform. For example, financial services reform legislation enacted in 1999 eliminated the long-standing Glass-Steagall Act restrictions on securities activities of bank holding companies and banks. The legislation, among other things, permits securities and insurance firms to engage in banking activities under specified conditions.

On January 27, 2004, Huntington announced the signing of a definitive agreement to merge with Unizan Financial Corp. (Unizan), a financial holding company based in Canton, Ohio, with assets of $2.7 billion at December 31, 2003. Under the terms of the agreement, Unizan shareholders will receive 1.1424 shares of Huntington common stock, on a tax-free basis, for each share of Unizan. The merger is expected to close late in the second quarter of 2004, subject to applicable regulatory approvals and Unizan shareholder approval.








 

 

 

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