HBAN Stock Rises on North & South Carolina Branch Expansion

Huntington Bancshares Inc.’s (NASDAQ: HBAN) shares rose 2.5% in yesterday’s trading session after the company announced its plans to expand its banking franchise in North Carolina and South Carolina. The bank intends to add more than 350 employees across varied business divisions and launch roughly 55 retail branches within the next five years.The first branches will be located in Charlotte, Raleigh and Winston-Salem in North Carolina and Charleston, Columbia and Greenville in South Carolina. The bank is currently searching for branch sites, with construction anticipated to begin in 2026.This move is in alignment with the other banks penetrating the Carolina market, given a rise in the regional population. JPMorgan (NYSE: JPM) and Comerica Inc. (NYSE: CMA) have expanded into the region to deepen their presence.HBAN’s Expansion History in Carolinas MarketLast year, HBAN announced its plans to expand its commercial banking presence in Charlotte. The move aimed at tapping into the high deposit levels in Carolinas. It planned to add a team of experienced bankers to …Full story available on Benzinga.com