Huntington Bancshares Makes an Acquisition

Huntington Bancshares has boosted an already-strong presence on the Ohio market with a new purchase. The company announced it has reached an agreement to acquire Camco Financial, the parent company of Advantage Bank. The price is roughly $97 million, which will be paid in a mix of stock and cash -- existing Camco stockholders can choose whether to receive 0.7264 shares of Huntington stock, or $6.00 cash, per share that they own.

According to its acquirer, Camco operates 22 banking offices throughout Ohio. It has roughly $800 million in total assets and $600 million in deposits.

The transaction is expected to close in the first half of next year, and is subject to approval from the relevant regulatory bodies.

The article Huntington Bancshares Makes an Acquisition originally appeared on

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