Plans to expand operation: Huntington sets sights on establishing 55 new branches across the Carolinas within a period of 5 years.
Huntington Bank Expands Presence in North and South Carolina
Huntington Bank is making a significant move into North and South Carolina, aiming to capture the substantial growth opportunities presented by these states. The bank has already opened several new branches in both states, with more on the way as part of an ongoing rollout of refreshed branches.
The new branches offer modern, inclusive, and intuitive banking products designed to cater to individuals at various life stages. Examples of these products include Teen Banking and Caregiver Banking, reflecting Huntington's focus on consumer financial wellbeing.
As Huntington Bank establishes itself in the Carolinas, it will face competition from other banks, such as U.S. Bank, which is rapidly expanding its branch presence in key markets like Charlotte, North Carolina. U.S. Bank aims to double its footprint in the region by 2026.
Despite the competitive landscape, Huntington's executives are confident about the potential success of their expansion. They point to the bank's recent experience in opening branches in Denver and the Minneapolis area as a positive indicator, as well as the growth and vitality of the Carolinas.
The bank has expanded its commercial banking footprint into the Carolinas, focusing on five markets across the two states. The branch sites for the expansion are being chosen using data and proprietary market research. The full launch of Huntington Bank in the Carolinas will occur over several years.
Huntington Bank has a regional headquarters in Charlotte and provides commercial banking, regional banking, and treasury management services in the five markets. The bank has been in the region with its national specialty businesses for about a decade.
The costs associated with branch builds and employment in the Carolinas are within Huntington Bank's planned investment capacity for 2025 and beyond. The bank expects to add approximately 350 employees across various business lines through this expansion.
Monday's announced expansion adds Columbia as a sixth target market in South Carolina. Construction for the branch sites in the Carolinas is scheduled to begin in 2026. In addition to its expansion in the Carolinas, Huntington Bank has also announced plans to expand in Texas.
Summary:
- Huntington Bank is expanding into North and South Carolina, targeting 55 branch openings over the next five years.
- The bank has already opened several branches in both states, with more on the way as part of an ongoing rollout of refreshed branches.
- The new branches offer modern, inclusive, and intuitive banking products designed to cater to individuals at various life stages.
- Huntington Bank will face competition from other banks, such as U.S. Bank, which is rapidly expanding its branch presence in key markets like Charlotte, North Carolina.
- The first North Carolina branches will be located in Charlotte, Raleigh, and Winston-Salem, while initial South Carolina branches will be established in Charleston, Columbia, and Greenville.
- The full launch of Huntington Bank in the Carolinas will occur over several years.
- Huntington Bank has a regional headquarters in Charlotte and provides commercial banking, regional banking, and treasury management services in the five markets.
- The costs associated with branch builds and employment in the Carolinas are within Huntington Bank's planned investment capacity for 2025 and beyond.
- Huntington Bank expects to add about 350 employees across various business lines through this expansion.
- Construction for the branch sites in the Carolinas is scheduled to begin in 2026.
- In addition to its expansion in the Carolinas, Huntington Bank has also announced plans to expand in Texas.
- Huntington Bank is investing in the finance sector of North and South Carolina, aiming to establish a strong presence in the region and cater to the evolving needs of businesses and consumers through its modern banking products.
- The expansion of Huntington Bank into the Carolinas is part of a wider strategy that includes planned investments in employment and branch infrastructure, with approximately 350 new hires across various business lines and the construction of new branches scheduled to begin in 2026.
