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Huntington Bancshares buys more Michigan branches from BofA

  • Huntington Bancshares (HBAN -1.4%) continues to boost its Michigan presence with an agreement to buy 13 Bank of America (BAC -0.3%) branches which follows a recent deal for the purchase of another 11 branches in the state.
  • The 13 branches bring with them about $500M in deposits (no loans), and the deposit premium is 3.5%.
  • Source: Press Release
Comments (5)
    , contributor
    Comment (1) | Send Message
    HI I invested in Bank of America common stocks when I was working employed at the bank. there lot of benefits back then now with everything is complicated I am watching the share prices to sell or stay with BAC common stocks
    14 May, 11:05 AM Reply Like
  • gwynfryn
    , contributor
    Comments (4348) | Send Message
    Is BAC planning on becoming an internet only bank? It saves money, but can lose them a lot of customers, too (as HBAN seems to believe)! I think it's important to have at least one branch in a decent sized town, as there are always issues that arise, that only humans can deal with, and often with a need to be face to face. Being able to hide behind an e-mail address adversely affects some peoples' personalities!
    14 May, 11:09 AM Reply Like
  • annimhere
    , contributor
    Comments (56) | Send Message
    This is old news, but I'm glad to see BofA gone in my city. Hate it. And it brings "drifters" into town that do no good. HBAN will honor both BofA accounts and HBAN accounts but only for awhile I'm sure (I hope).
    14 May, 02:45 PM Reply Like
  • TBV
    , contributor
    Comments (117) | Send Message
    Sell assets that dont make enough money and buy assets that will give you growth ... thats BAC's current strategy.
    15 May, 07:57 AM Reply Like
  • gwynfryn
    , contributor
    Comments (4348) | Send Message
    Interesting idea, TBV; it may work...
    15 May, 10:10 AM Reply Like
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