M&A Deal Summary

Huntington Bancshares Acquires 13 Michigan branches - Bank of America

On May 14, 2014, Huntington Bancshares acquired financial services company 13 Michigan branches - Bank of America from Bank of America

Acquisition Highlights
  • This is Huntington Bancshares’ 4th transaction in the Financial Services sector.
  • This is Huntington Bancshares’ 4th transaction in the United States.
  • This is Huntington Bancshares’ 2nd transaction in Michigan.

M&A Deal Summary
Date 2014-05-14
Target 13 Michigan branches - Bank of America
Sector Financial Services
Buyer(s) Huntington Bancshares
Sellers(s) Bank of America
Deal Type Divestiture

Target

13 Michigan branches - Bank of America

Michigan, United States
The 13-branch purchase is for 11 locations in the Monroe and Flint markets and two locations in Holland and Muskegon. In terms of overlap, only the Holland and Muskegon branches and one Monroe branch overlap within two miles of Huntington’s existing branch network.

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Buyer(S) 1

Buyer

Huntington Bancshares

Columbus, Ohio, United States
Category Company
Founded 1866
Sector Financial Services
Employees19,719
Revenue 7.4B USD (2023)
DESCRIPTION

Huntington Bancshares is a regional bank holding company that provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. Huntington Bancshares was founded in 1866 and is based in Columbus, Ohio.

DEAL STATS #
Overall 4 of 7
Sector (Financial Services) 4 of 7
Type (Divestiture) 1 of 2
State (Michigan) 2 of 2
Country (United States) 4 of 6
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-04 Camco Financial

Cambridge, Ohio, United States

Camco Financial Corp. offers community banking that includes commercial, business and consumer financial services and internet banking from 22 offices.

Buy $97M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-24 Macquarie Equipment Finance

Toronto, Ontario, Canada

Macquarie Equipment Finance, Inc. is a provider of specialized financing and asset management solutions for enterprises, technology manufacturers and suppliers worldwide with capabilities to serve the needs of major multinational organizations through small and midsize businesses.

Buy -

Seller(S) 1

SELLER

Bank of America

Charlotte, North Carolina, United States
Category Company
Founded 1784
Sector Financial Services
Employees212,000
Revenue 98.6B USD (2023)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.

DEAL STATS #
Overall 13 of 16
Sector (Financial Services) 12 of 15
Type (Divestiture) 13 of 16
State (Michigan) 1 of 2
Country (United States) 12 of 14
Year (2014) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-09 11 branches Central & East Michigan - Bank of America

United States

11 branches in Central and East Michigan will increase the bank’s Michigan branch total to 173 statewide including 80 locations in the bank’s East Michigan region.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-16 Bank of America - 24 Michigan Branches

Michigan, United States

24 Bank of America branches in Michigan, were converted to deliver Huntington products and services. Huntington’s Michigan customers will now enjoy more convenience and accessibility to our 700 plus branch network.

Sell -
Mergr

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