Huntington Bank Reports Increase in Lending

Huntington Bank fourth-quarter profits increased by 3 percent in a year highlighted by a boom in lending.

One of the highlights for the year is a 9 percent gain in lending, said Renee Csuhran, Huntington's interim president of its Cleveland region. That amounted to an increase of $3.6 billion in loans. 

Auto lending soared by 31 percent for the year, while mortgage lending increased by 8 percent. 

The Columbus-based bank pushed small business lending during the year and, in October, was named the No. 1 SBA lender nationwide. Huntington's small business loans jumped by 37 percent, catapulting it from No. 3 to the top spot. George Mokrzan, Huntington's director of economics, said the bank is seeing growing confidence among consumers. Credit balances are rising and the area has seen the strongest new auto sales in years, Mokrzan said. "It does look like there is a graduate increase in discretionary spending," he said. "Consumers in general are feeling good."

By Teresa Dixon Murray, The Plain Dealer

FYI - CEA Access to Credit program on Thursday, January 29, 2015 at 11:00am.

Top experts from the state and national financial organizations (Huntington Bank, Small Business Administration, CCI Surety, Ohio Development Services Department, and Oswald Companies), will provide solultions and tips for emerging contractors seeking credit (working capital, equipment financing, real estate financing and surety products).  For additional details and registration visit www.ceacisp.org/events