COLUMBUS, Ohio, July 31 /PRNewswire-FirstCall/ -- Huntington Equipment Finance, a division of Huntington National Bank, was once again ranked among the largest and fastest growing equipment finance companies in the United States.
The Monitor's analysis of 2007 showed that new business volume soared by more than 60 percent in 2007 positioning Huntington in the 45th spot, compared to 58 in 2006. Syndicated loan and fee income also rose for the Equipment Finance division. The Monitor ranked Huntington 56th overall in the industry, compared to 77th in 2001 when it re-entered the business. The rankings were based on net investment in equipment related loans and leases as reported in year-end 2007 data.
According to Huntington Equipment Finance President, Robert Allanson, "Our growth can be attributed to our strong sales teams, as well as the opportunity that came with an expanded footprint following Huntington's acquisition of Sky Financial Group last year. Traction with our newer businesses -- Machine Tool Finance Group and Vendor Finance Group -- also continues to increase.
"We are pleased that we continue to grow. However, what's most important," he said, "is that we are providing solutions that help our clients develop and grow their businesses."
Launched in 1974, the Monitor is the most widely read publication in the equipment leasing and finance industry.
About Huntington
Huntington Bancshares Incorporated (Nasdaq: HBAN) is a $55 billion regional bank holding company headquartered in Columbus, Ohio. Huntington has more than 142 years of serving the financial needs of its customers. Huntington's banking subsidiary, The Huntington National Bank, provides innovative retail and commercial financial products and services through over 600 regional banking offices in Indiana, Kentucky, Michigan, Ohio, Pennsylvania, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of almost 1,400 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Nevada, New Jersey, New York, Tennessee, and Texas; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland and New Jersey. Huntington Insurance offers retail and commercial insurance agency services in Ohio, Pennsylvania, Michigan, Indiana, and West Virginia. International banking services are made available through the headquarters office in Columbus, a limited purpose office located in the Cayman Islands, and another located in Hong Kong.
SOURCE Huntington Bancshares Incorporated
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