Boston, MA 10/29/2013 (wallstreetpr) – Huntington Bancshares Incorporated (NASDAQ:HBAN) is a multi-state diversified regional bank holding company.
The rating company, Fitch, rates BBB+ to the company’s $400 million fixed senior note which has a maturity of five years. The rating company has also assigned the same ratings to Huntington National bank’s fixed senior notes of $350 million which has a maturity of three years as the amount from the senior notes will be used for general corporate purposes. The company is able to improved its rating because of it actions in the past few years. One of these is that the company has improved its capital liquidity position and good core profitability of the company is also the cause of improvement in ranking.
The company declares a cash dividend for its preferred stock holders which includes a series of A and B. The dividend is payable on January 15, 2014 and will be received by the shareholders with the record date of January 1, 2014. The amount of the dividend is $21.25 per share apart from this. The board of directors has also declared a quarterly cash dividend for Series B Cumulative perpetual preferred stock as the amount of the dividend is $7.359 per share and the record date and payment date remains same as stockholders of series A.
Huntington Bancshares declare the acquisition of Camco Financial Corp., which is the parent company of Cambridge, which is an Ohio-based Advantage bank. The deal will be completed on both a cash and stock-based transaction as the shareholders of Camco will receive 0.7264 share of Huntington or $6 of each share of Camco financial corp. The total wealth of Camco in terms of assets comprises of $0.8 billion of total assets and $0.6 billion of total deposits, which consists of 22 banking offices which are spread throughout eastern and southern region of Ohio.