HUNTINGTON BANCSHARES INCORPORATED INCREASES ITS PRIME RATE TO 4 PERCENT

Rhea-AI Summary

Huntington Bancshares Incorporated has announced an increase in its prime rate from 3.5 percent to 4 percent, effective May 5, 2022. This adjustment follows a previous increase on March 17, 2022, where the rate was raised from 3.25 percent to 3.5 percent. With total assets of $177 billion, Huntington is a leading regional bank providing diverse financial services across 11 states from over 1,000 branches. The company remains committed to serving consumers and businesses through comprehensive banking and financial solutions.

Positive

• Increase in prime rate could enhance bank's net interest margin.
• Company's strong asset base of $177 billion indicates solid financial health.

Negative

• None.

News Market Reaction – HBAN

-2.09%

-2.09% Session move

In the trading session that priced this news, HBAN declined 2.09%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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COLUMBUS, Ohio, May 5, 2022 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is increasing from 3.5 percent to 4 percent, effective May 5, 2022.

The rate was last changed on March 17, 2022, when Huntington increased its prime rate from 3.25 percent to 3.5 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 the new prime rate for Huntington Bancshares (HBAN)?

The new prime rate for Huntington Bancshares is 4 percent, effective May 5, 2022.

When was the last change to Huntington Bancshares' prime rate before May 2022?

The last change was on March 17, 2022, when the rate increased from 3.25 percent to 3.5 percent.

How many branches does Huntington Bancshares operate?

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

What is the total asset value of Huntington Bancshares?

Huntington Bancshares has total assets of $177 billion.