Huntington Bancshares (NASDAQ:HBAN)
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3 Months : From May 2019 to Aug 2019
COLUMBUS, Ohio, June 20, 2019 /PRNewswire/ -- Furthering its mission to be the nation's best bank for businesses, Huntington (Nasdaq: HBAN; www.huntington.com) today announced the creation of a health care finance team dedicated to helping private health care and medical practices located east of the Mississippi.
The team is led by business banking expert and industry veteran David Burch, who joined Huntington from Bank of America, where he led one of the largest practice finance teams in the industry and served as the division executive for all business activity across the Northeast and mid-Atlantic states.
Huntington's new practice finance team will focus on businesses with less than $20 million in yearly revenue, particularly dentists, physicians and veterinarians who seek to expand their practices and unlock long-term value. The new program offers specialized loan products for multiple purposes, including equipment finance, relocation and remodeling, practice acquisition and startups.
"Health care practice finance is an exciting and rapidly growing area of banking, as businesses often run by sole proprietors need tailored, expert financial advice and tools to succeed," said Andy Harmening, Huntington's Senior Executive Vice President and Director of Consumer and Business Banking. "At Huntington, we've long prided ourselves on being the best bank for businesses, and now we've taken it a step further to ensure we have the unique expertise to serve those businesses with clear specialization."
One of those businesses is The Animal Care Center at Granville in Ohio. Owner Dr. Laurinda Morris said she chose Huntington's health care finance team because of their local, personal and timely approach to refinancing.
"We're happy to be part of the family," Dr. Morris said. "It's been a wonderful experience, and I would certainly recommend it to any other professional that was looking forward to a refinance."
Huntington's practice finance team uses a high-touch approach that consists of extensive monitoring and mentorship to establish the building blocks of a successful practice. The hallmark of Huntington's offering is the financial pulse program that benchmarks practice performance and recommends strategies for improvement, helping practitioners optimize their business.
"Our goal is to deliver more choice and long-term value for private health care and medical practice owners," said Burch, Huntington's Business Banking Director of Sales and Specialty Banking. "We have a dynamic group of the top business banking experts in the health care arena and the conventional products and lending expertise our market expects, along with the added value of being the top SBA1 lender in the markets we serve when that tool is required."
Burch has been actively tailoring solutions for health care practitioners and building a team of dedicated business development officers, all of whom have extensive health care industry expertise and deep experience delivering strategic insights for health care practices. The team currently serve practices in the Northeast, Southeast and Midwest.
Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $108 billion of assets and a network of 898 full-service branches, including 12 Private Client Group offices, and 1,727 ATMs across eight Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states. Visit huntington.com for more information.
1Business Administration (SBA) loans subject to eligibility. Huntington is the #1 SBA 7(a) lender in the region made up of Illinois, Indiana, Kentucky, Ohio, Michigan, West Virginia, Western Pennsylvania and Wisconsin. Source: U.S. Business Administration from October 1, 2008, to September 30, 2018. Huntington is #1 in the nation in number of SBA 7(a) loans for fiscal year ending September 30, 2018.
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SOURCE Huntington Bancshares Incorporated