HUNTINGTON BANCSHARES INCORPORATED INCREASES ITS PRIME RATE TO 4.75 PERCENT

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Huntington Bancshares Incorporated (Nasdaq: HBAN) announced an increase in its prime rate from 4 percent to 4.75 percent, effective June 16, 2022. This adjustment follows a previous increase on May 5, 2022, when the rate was raised from 3.5 percent to 4 percent. As a regional bank holding company with $177 billion in assets, Huntington operates over 1,000 branches across 11 states, providing a wide range of banking and financial services to various clients.

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On the day this news was published, HBAN declined 5.58%, reflecting a notable negative market reaction.

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COLUMBUS, Ohio, June 15, 2022 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is increasing from 4 percent to 4.75 percent, effective June 16, 2022.

The rate was last changed on May 5, 2022, when Huntington increased its prime rate from 3.5 percent to 4 percent.

About Huntington
Huntington Bancshares Incorporated is a $177 billion asset regional bank holding company headquartered in Columbus, Ohio. Founded in 1866, The Huntington National Bank and its affiliates provide consumers, small and middle-market businesses, corporations, municipalities, and other organizations with a comprehensive suite of banking, payments, wealth management, and risk management products and services. Huntington operates more than 1,000 branches in 11 states, with certain businesses operating in extended geographies. Visit Huntington.com for more information.

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SOURCE Huntington Bancshares Inc.

FAQ

What is Ohio-based Huntington Bancshares' new prime rate?

Huntington Bancshares' new prime rate is 4.75 percent, effective June 16, 2022.

When was the last change to Huntington Bancshares' prime rate?

The last change to Huntington Bancshares' prime rate was on May 5, 2022, when it increased from 3.5 percent to 4 percent.

What is the significance of the prime rate increase for Huntington Bancshares (HBAN)?

An increase in the prime rate generally affects interest rates on loans, potentially impacting profitability and borrowing costs for consumers and businesses.

How many branches does Huntington Bancshares operate?

Huntington Bancshares operates over 1,000 branches across 11 states.