Expansion Planned: Huntington to Establish 55 Branches Across Carolinas within a 5-Year Period
Huntington Bank Expands Presence in North and South Carolina
Huntington Bank is actively growing its footprint in North Carolina and South Carolina by opening new branches that feature a refreshed branding and new banking features as part of a broader growth strategy in these markets [1][3][4].
The bank's expansion includes the rollout of modern, inclusive, and intuitive banking products such as Teen Banking and Caregiver Banking, designed to meet evolving customer needs across life stages [3][4]. This move signifies Huntington's intention to strengthen customer confidence while pursuing market growth.
The bank's strategy is positioned as not just a cosmetic update but a significant shift to align its offerings with customer feedback and market demands, signaling a commitment to integrate deeply into the everyday financial lives of individuals and families in these states [1][3][4].
Initially, 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 [2]. Construction for these branches is slated to begin in 2026.
Huntington Bank has been in the region with its national specialty businesses for about a decade [2]. However, it will face competition from larger banks such as Bank of America, Truist, JPMorgan Chase, and U.S. Bank in the region [2].
In order to fund this expansion, Huntington is taking actions to drive cost-savings across the organization [1]. The bank expects to add about 350 employees across various business lines through this expansion [2]. Huntington expects to record $20 million in additional expenses tied to ongoing efficiency programs in the third quarter [1]. The costs associated with branch builds and employment in the Carolinas are within the bank's planned investment capacity for 2025 and beyond [1].
It's worth noting that Huntington has about 200 employees in the Carolinas currently [2]. The bank has about 970 branches across 11 states [2]. The full launch in the Carolinas will occur over several years.
In addition to the expansion in the Carolinas, Huntington Bank is also expanding in Texas [2]. Branch sites for the expansion in the Carolinas are being chosen using data and proprietary market research [2].
Huntington is expanding its commercial banking footprint into the Carolinas, focusing on five markets across the two states [2]. The bank currently has about 60 bankers across five markets, providing commercial banking, regional banking, and treasury management services [2].
Recently, Huntington opened five new branches within growth markets this year, all of which exceeded their loan and deposit balance targets [2]. Monday's announced expansion adds Columbia as a sixth target market [2]. The bank's recent experience opening branches in Denver and the Minneapolis area gives executives confidence that the Carolinas expansion can prove fruitful [3].
[1] Huntington Bank press release: https://www.huntington.com/newsroom/press-releases/2022/09/huntington-bank-announces-expansion-into-north-carolina-and-south-carolina [2] Huntington Bank's official website: https://www.huntington.com/ [3] American Banker article: https://www.americanbanker.com/news/huntington-bank-to-expand-into-carolinas-with-55-branches [4] Banking Dive article: https://www.bankingdive.com/news/banking/huntington-bank-to-expand-in-carolinas-with-55-branches/618731/ [5] The Financial Brand article: https://thefinancialbrand.com/68454/huntington-bank-carolinas-expansion-strategy/
Huntington Bank is not only expanding its footprint in the business sector of North Carolina and South Carolina but is also investing heavily in the finance industry, seeking to compete with larger banks such as Bank of America and JPMorgan Chase. As part of its growth strategy, Huntington Bank is adding about 350 employees and expects to record additional expenses tied to ongoing efficiency programs in the third quarter, with the costs associated with branch builds and employment in the Carolinas being within its planned investment capacity for 2025 and beyond.
