Nov 25, 2007

Huntington Bank

Part of a series The Great American Write-Down

Huntington Bank (HBAN) Huntington will have to cover about $300 million in the fourth quarter. Besides being hammered by the housing situation, Huntington let First Franklin Financial Corp borrow $1.5 billion that are secured by mortgages. Since Merrill Lynch now owns First Franklin I have to wonder how they plan to handle this.

Huntington Bancshares Taking $300M Charge
Huntington sees surprise loss from mortgage client