TCF’s Auto Sector Exit Intensifies Profitability Concerns at Regional Banks

The announcement this week that TCF Bank will shutter its indirect auto finance unit, Gateway One Lending & Finance LLC, caps a year that has been volatile for mid-sized regional banks, according to Peter Winter, analyst at Wedbush Securities. “Most banks are surprised how long the credit cycle has lasted for the [mid-tier] bank group,” […]
  • William Hoffman
  • December 6, 2017

Lenders Scout ‘Dealer-Centric’ Fintech Partners

Lenders will continue to seek fintech partners to increase production and facilitate new product opportunities in 2018, several executives told Auto Finance News, however, banks and credit unions in particular are scouting for “dealer-centric” or “hybrid” platforms. “If you look at technology, we are always looking for internal partners that can bring us better, faster, […]
  • Natalie Mattila
  • December 5, 2017

5 Powersports Lenders Targeting State Expansion

Following years of powersports finance industry expansion — including new entrants and growing dealer networks — lenders are targeting geographic growth in an effort to compete. The powersports finance industry will experience more growth next year, despite some “unevenness” in the space lately largely driven by weather-related conditions, MotoLease LLC Chief Executive and President Maurice Salter said […]
  • Natalie Mattila
  • November 28, 2017

Huntington Bank Eyes More Expansion for RV Lending Business

Huntington Bancshares Inc. continues to focus on its recreational lending business, following the expansion of subsidiary FirstMerit Corp. into 17 additional states earlier this year, according to the bank’s recent third-quarter earnings call. Huntington Bank continues to “execute on the significant revenue enhancement opportunities,” which includes RV and marine lending expansions, Steve Steinour, Huntington’s president […]
  • Natalie Mattila
  • November 7, 2017

Huntington Speeds Rehash Process

Huntington Bank is giving dealers more flexibility when negotiating deals by offering a wider range of loan parameters for consumers, Executive Vice President and Group Director Richard Porrello told Auto Finance News. “We give dealers multiple options when we approve a deal, but maybe a consumer wants more money down to get a better rate […]
  • Natalie Mattila
  • August 29, 2017

Dealers Step Up Volume to Huntington in 2Q

Huntington Bank saw an 11% year-over-year rise in auto outstandings — to $11.6 billion — in the second quarter, thanks to the bank’s increased focus on its “dealer community,” Executive Vice President and Group Director Rich Porrello told Auto Finance News. “Since 2010, we’ve had no real geographic expansion year-to-date, but our model continues to […]
  • Natalie Mattila
  • August 4, 2017

Huntington Bank Grows ‘Attractive’ RV Portfolio in 2Q, CFO Says

Huntington Bancshares Inc. expanded its subsidiary FirstMerit Corp.’s recreational vehicle and marine business into 34 states this year, up from its prior 17-state footprint, Mac McCullough, Huntington’s chief financial officer, said on the second-quarter earnings call Friday. “We believe there is an opportunity to expand FirstMerit’s attractive recreational vehicle and marine finance business,” McCullough said. […]
  • Natalie Mattila
  • July 24, 2017

Huntington Auto Portfolio Up 12% Post FirstMerit Merger

Huntington Auto Finance grew its outstandings to $11.1 billion — a 12.45% increase compared to the same period a year ago, according to the bank’s first quarter earnings. Huntington’s portfolio was boosted — in part — by the acquisition of FirstMerit Bank, finalized in August, Richard Porrello, director of auto finance and dealer services, previously told Auto Finance […]
  • William Hoffman
  • April 19, 2017

Bank of the West’s Wible to Talk Trends on Summit Panel

Paul Wible, senior executive vice president of the national finance group at Bank of the West, has joined the Leadership Roundtable panel at the upcoming 2016 Auto Finance Summit. During the Oct. 6 session, Wible and his fellow panelists will discuss best practices in the face of rising competition in the industry. “We think our competitive advantage and […]
  • Larissa Padden
  • August 26, 2016

Huntington Bank on Track for Robust Year

Huntington Bancshares Inc. is on track for a robust year in auto finance, according to Richard J. Porrello, the bank’s director of auto finance and dealer services. Huntington saw double-digit growth in auto loan and lease originations, hitting $1.4 billion in the first quarter of 2016, the company previously reported. The bank also spread into […]
  • Natalie Mattila
  • May 9, 2016
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