Huntington National Bank acquires parent of Advantage Bank - Clarksburg, Morgantown: News, Sports, Weather

Huntington National Bank acquires parent of Advantage Bank

Posted: Updated:

Huntington National Bank, a regional banking company based in Ohio, has agreed to acquire Cambridge, Ohio-based Camco Financial Corp., the parent company of Advantage Bank in a $97 million transaction.

Advantage Bank has one location in West Virginia, at Vienna in Wood County. As of June 30, Huntington National Bank had 35 locations in the state in 12 counties: Kanawha, Monongalia, Marion, Harrison, Wood, Randolph, Ritchie, Lewis, Putnam, Cabell, Wayne and Hancock.

"This is a great opportunity to enhance our presence in several areas within our existing footprint and to expand into several new attractive geographies," Steve Steinour, chairman, president and CEO of Huntington Bank, said in a statement announcing the acquisition.

The boards of directors of both companies have approved the transaction. Huntington National Bank expects the deal to close in the first half of 2014.