HUNTINGTON BANCSHARES INCORPORATED INCREASES ITS PRIME RATE TO 8 PERCENT

Rhea-AI Summary

Huntington Bancshares Incorporated (Nasdaq: HBAN) has announced an increase in its prime rate from 7.75 percent to 8 percent, effective March 23, 2023. This marks the latest adjustment since the previous increase on February 2, 2023, when the rate rose from 7.5 percent to 7.75 percent. As a regional bank holding company with $183 billion in assets, Huntington serves a diverse range of clients, including consumers and small businesses, across more than 1,000 branches in 11 states.

Positive

• Prime rate increase from 7.75% to 8% indicates potential for higher interest income.
• Huntington's total assets stand at $183 billion, showcasing financial stability.

Negative

• None.

COLUMBUS, Ohio, March 23, 2023 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) announced that its prime rate is increasing from 7.75 percent to 8 percent, effective March 23, 2023.

The rate was last changed on February 2, 2023, when Huntington increased it from 7.5 percent to 7.75 percent.

About Huntington
Huntington Bancshares Incorporated is a $183 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/huntington-bancshares-incorporated-increases-its-prime-rate-to-8-percent-301779337.html

SOURCE Huntington Bancshares Inc.

FAQ

What is the new prime rate for Huntington Bancshares (HBAN)?

The new prime rate for Huntington Bancshares (HBAN) is 8 percent, effective March 23, 2023.

When was the last change to Huntington Bancshares' prime rate before March 2023?

The last change to Huntington Bancshares' prime rate was on February 2, 2023, when it increased from 7.5 percent to 7.75 percent.

How does the prime rate increase affect Huntington Bancshares (HBAN)?

The prime rate increase can lead to higher interest income for Huntington Bancshares (HBAN), as it raises borrowing costs for customers.

What are the assets of Huntington Bancshares (HBAN)?

Huntington Bancshares (HBAN) has total assets of $183 billion.

How many branches does Huntington Bancshares operate?

Huntington Bancshares operates more than 1,000 branches across 11 states.