Market Currents

Fidelity Bank of Dearborn, Michigan is the 16th U.S. bank to fail this year. Huntington National...

Friday, March 30, 2012, 6:41 PM ET
Fidelity Bank of Dearborn, Michigan is the 16th U.S. bank to fail this year. Huntington National Bank, a part of Huntington Bancshares (HBAN) will buy the $818.2M in assets and assume the $747.6M in deposits at Fidelity's 15 branches. The cost to the FDIC's deposit-insurance fund is $92.8M . Fidelity is Michigan's first failed bank of the year.

This Market Current was sent to 2,488 people who get email alerts on HBAN.

Get email alerts on HBAN »

Share this Market Current

Short URL:

Track new comments on this story

This news story has 5 comments:

padron Comments (3)

I'm a retired career banker in Ohio where Huntington is headquartered. Huntington taking over a failed bank is the blind leading the blind. I have no doubt Huntington will find a way to screw this up too. Where are the great business practices, financial ratios or track record that warrants this?

31 Mar 2012, 07:43 AM Reply Like

callenmak Comment (1)

My expirience with these financial models and their expectations is that they can't capture important attributes of a moving object(what all firms are) . Roll back to 2008 global crisis and see what i mean!

31 Mar 2012, 03:12 PM Reply Like

rchuta Comments (3)

Padron
Would you elaborate on your post as to Huntington Bank will screw this up. I own 1000 shares of this bank. Thank You

31 Mar 2012, 08:54 AM Reply Like

WMARKW Comments (8359)

Total Estimate of cost on 16 bank failures this year = $1.23 billion to the FDIC insurance fund.

1 Apr 2012, 06:52 PM Reply Like

ifjic Comments (2)

HBAN is one of the top 5 bank stocks in the US whoever disagrees is ignorant or holding short.

3 Apr 2012, 05:01 AM Reply Like

LATEST|

TODAY SO FAR|

YESTERDAY

Other date

DJIA (DIA) S&P 500 (SPY)