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to Be Acquired by Huntington Bancshares Incorporated for $6.00 Per Share

20:52 10.10.13

PR Newswire

SAN DIEGO and CAMBRIDGE, Ohio, Oct. 10, 2013

SAN DIEGO and CAMBRIDGE, Ohio, Oct. 10, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the acquisition of Camco Financial Corporation (NASDAQ: CAFI) by Huntington Bancshares Incorporated (NASDAQ: HBAN).  

(Logo: photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Learn more about our investigation on our Shareholder Rights Blog: www.robbinsarroyo.com/...hts-blog/camco-financial-corporation/

On October 10, 2013, Huntington and Camco jointly announced the signing of a definitive merger agreement under which Huntington will acquire Camco in a cash and stock transaction.  Under the terms of the agreement, Camco shareholders will receive 0.7264 shares of Huntington common stock, or $6.00 in cash, for each share of common stock, subject to proration provisions specified in the merger agreement that provide for a targeted aggregate split of total consideration of 80% common stock and 20% cash.  The boards of both companies have unanimously approved the merger agreement.  The transaction is expected to close in the first half of 2014.  

Is the Merger Best for Camco and Its Shareholders?

Robbins Arroyo LLP's investigation focuses on whether the board of directors at Camco is undertaking a fair process to obtain maximum value and adequately compensate Camco shareholders in the merger.  As an initial matter, the $6.00 consideration represents a one month premium of only 44.93% based on Camco's closing price on September 10, 2013.  That premium is well below the average one month premium of over 56% for comparable transactions in the last three years.

Moreover, Camco is currently experiencing success and growth in its business prospects, as indicated in its July 29, 2013 press release, announcing the company's financial results for its second quarter of 2013, reporting record earnings, core deposits, and noninterest income.    In particular, Camco reported:

   record net earnings of $6.2 million, or $0.42 per diluted share for the quarter, an increase of 1140% in dollar value of the net increase and an increase of 600% per diluted share over the same quarter in 2012.
   core deposits of $325.2 million for the quarter, an increase of 6% compared to the same quarter in 2012.
   noninterest income of $2.1 million, an increase of 23% compared to the same quarter in 2012.

In announcing these results, James E. Huston, President and CEO of Camco, stated: "Our second quarter performance reflects additional progress related to plans we are implementing to further improve asset quality, increase core deposits and pursue high quality, profitable loans and investments. … We look forward to realizing further achievements during the second half of this year as we continue to pursue these growth plans."

Given these facts, Robbins Arroyo LLP is examining Camco's board of directors' decision to sell the company to Huntington now rather than allow shareholders to continue to participate in the company's continued success and future growth prospects, and whether they are seeking to benefit themselves.  

Camco shareholders have the option to file a class action lawsuit to secure the best possible price for shareholders and the disclosure of material information so shareholders can decide whether to tender their shares in an informed manner.  Camco shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to www.robbinsarroyo.com.

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:

Darnell R. Donahue

Robbins Arroyo LLP

ddonahue@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP
Quelle: PR Newswire

Camco Financial Corporation INVESTOR ALERT: The Law Offices of Vincent Wong Investigates the Sale of Camco Financial Corporation to Huntington Bancshares Incorporated -- CAFI

15:46 21.10.13

PR Newswire

NEW YORK, Oct. 21, 2013

NEW YORK, Oct. 21, 2013 /PRNewswire/ -- The Law Offices of Vincent Wong are investigating potential claims against the Board of Directors of Camco Financial Corporation (NasdaqGM: CAFI) ("Camco") regarding possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Huntington Bancshares Incorporated (NasdaqGS: HBAN).

Click here to learn about the case: wongesq.9nl.me/camco-financial/.There is no cost or obligation to you.

Under the terms of the transaction, Camco shareholders will receive either $6.00 or 0.7264 shares of Huntington common stock for each share of Camco stock they own. The investigation concerns whether the Camco Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company to obtain the best possible value for Camco shareholders.

If you own common stock in Camco and wish to obtain additional information, please contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit wongesq.9nl.me/camco-financial/.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.  Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:    

Vincent Wong, Esq.

39 East Broadway

Suite 304

New York, NY 10002

Tel. 212.425.1140

Fax. 866.699.3880

E-Mail:          vw@wongesq.com

SOURCE The Law Offices of Vincent Wong
Quelle: PR Newswire

In an effort to create a welcome culture that focuses on doing the right thing for customers, Huntington has implemented several Fair Play banking initiatives over the past four years that have contributed to industry-leading account acquisition driven by innovative products and services. These include Asterisk-Free Checking®, a checking account with no monthly fee and no minimum balance requirement that comes with 24-Hour Grace®, and Huntington’s credit card, Voice™, that comes with Late Fee Grace™ and the ability to choose among 13 triple rewards categories.

Huntington recently announced the removal of overdraft protection transfer fees for both consumer and business checking accounts, another Fair Play step toward driving customer satisfaction. Huntington is also working toward implementing additional updates across all banking channels later this year that will facilitate further minimization of potential overdraft fees. And, Huntington continues to improve banking convenience for customers via Huntington Mobile Banking and ongoing growth within its traditional and in-store branch network.

About J.D. Power

J.D. Power is a global marketing information services company providing performance improvement, social media and customer satisfaction insights and solutions. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. Headquartered in Westlake Village, Calif., J.D. Power has offices in North/South America, Europe and Asia Pacific. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power is a business unit of McGraw Hill Financial.

About Huntington

Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.

Member FDIC. The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated. Asterisk-Free Checking®, and 24-Hour Grace® are federally registered service marks of Huntington Bancshares Incorporated. The 24-Hour Grace® system and method are patented: US Pat. No. 8,364,581.



(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...Retail-Banking-Satisfaction-Study-5021360

Before joining Fifth Third Bank, Augustine was with IDS Financial Services and Heritage Trust & Asset Management, and Star Bank in Ohio. He is a former president and board member for the Dayton Society of Financial Analysts; is on the University of Dayton - Flyer Investment Advisory Board; and, is a part-time business professor in the graduate school at the University of Dayton.

About Huntington

Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.



(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...stine-as-Chief-Investment-Officer-5035535

The 13-branch purchase is for 11 locations in the Monroe and Flint markets and two locations in Holland and Muskegon. In terms of overlap, only the Holland and Muskegon branches and one Monroe branch overlap within two miles of Huntington’s existing branch network.

With the 13-branch acquisition, Huntington will purchase approximately $500 million in deposits, for a deposit premium of 3.5 percent based on deposit balances at the time the transaction closes, which is expected to be in the second half of 2014. No loans are included in the purchase. Subject to the satisfaction of customary closing conditions, including regulatory approvals, this purchase agreement and Huntington’s previously announced agreement to purchase 11 branches in Saginaw and other markets includes nearly $1 billion of deposits.*

Huntington’s Michigan branch growth journey began in 2009 with the acquisition of the deposits of Warren Bank and continued with the 2012 acquisition of Fidelity Bank; combined, the acquisitions increased Huntington’s Michigan branches by 15. Also in 2012, Huntington announced an exclusive partnership to locate Huntington branches within Michigan Meijer stores, with 40 open to date toward more than 80 in-store Meijer branches by 2020. Correspondent with Huntington’s physical expansion in Michigan, its workforce will grow from approximately 1,500 in 2011 to more than 2,000 by the end of 2014, including staffing for branches pending acquisition.

Furthermore, Huntington has engaged in a series of public-private partnerships with the state of Michigan and Michigan Economic Development Corporation (MEDC) since 2011, including the successful completion of a $2 billion statewide lending commitment to commercial and small businesses, and the launch of the Pure Michigan Micro Lending Initiative. Huntington is also in the process of successfully concluding a $100 million Michigan affordable housing investment statewide commitment.

“Huntington is a proven partner supporting Michigan households, businesses and neighborhoods,” said Michael A. Finney, MEDC president and CEO. “The bank is also a valued Michigan employer. Expansion and investment in Michigan will provide even greater scale for Huntington and demonstrates its commitment to small business lending, a customer-friendly approach and local workforces that has and will continue to benefit Michigan’s strengthening economy.”

As a Michigan business lender, Huntington maintains the No. 1 ranking as the top Small Business Administration (SBA) lender in the state, currently making more SBA 7(a) loans in Michigan than all other lenders combined. As a consumer lender, Huntington is expecting increasing activity this year in residential mortgage and home equity lending as housing values continue to improve in Michigan and its other markets. Huntington also offers unique products including Asterisk-Free Checking®, a checking account with no monthly fee and no minimum balance requirement that comes with 24-Hour Grace® providing the opportunity to avoid overdraft fees. Huntington’s credit card, Voice™, comes with Late Fee Grace™ and the ability to choose among triple rewards categories.

Following completion of the acquisition, customers also will have access to Huntington's entire 1,500-ATM network throughout the Midwest, with no service charge, as well as more than 700 traditional and in-store branch locations.

For more information on Huntington products and services, customers can call 1-800-480-BANK (2265) or visit www.huntington.com.

*Federal Deposit Insurance Corporation Summary of Deposits Data as of June 30, 2013

About Huntington

Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.

Member FDIC. The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated. Asterisk-Free Checking®, and 24-Hour Grace® are federally registered service marks of Huntington Bancshares Incorporated. The 24-Hour Grace® system and method are patented: US Pat. No. 8,364,581.



(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...tegic-Investment-Within-the-State-5037766

Huntington Quick Balance and Huntington Mobile Deposit features are available in the Huntington Mobile app for iPhone® and Google Android® smartphones. For more information about Huntington Quick Balance, or Huntington Mobile Deposit, visit http://www.huntington.com/mobile.

About Huntington

Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.

Member FDIC. The logo mark and Huntington® are federally registered service marks of Huntington Bancshares Incorporated.

iPhone® is a trademark of Apple Inc., registered in the U.S. and other countries. Android™ is a trademark of Google Inc.



Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140519005209/en/

(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...-Mobile-App-Feature-Quick-Balance-5042894

The first month the pens became available, Huntington initially disbursed 331,000 to its branches. Now the bank issues more than 600,000 a month to keep up with how quickly customers are taking them in the normal course of their days and leaving them at public locations such as restaurants, dry cleaners and airports. The result has been that the pens now appear around the world.

“We never expected the pens to become as popular as they are,” added Clifton. “The quality of the pens has become a regular theme with countless anecdotes from everyday pen users including customers, waiters, and pizza delivery drivers about how they last. Customers also tell us stories about where they have seen them in their travels.”

Some of the interesting places that Huntington pens have been spotted include:

A member of the American military stationed in Afghanistan received a box of goodies from Ohio, which included Huntington pens. He gave a couple away within his troop, and days later met with Afghan Nationals who were writing with them.
A Huntington customer flew to India and was greeted by a customs official who was using a Huntington pen.
A Huntington colleague had lunch at a table beside a competitor, who was selling his bank’s services while taking notes with a Huntington pen.
Huntington colleagues have seen employees at the drive-thrus of other banks insert Huntington pens in the tubes that are sent out to customers with instructions to sign the back of the check in the tube.
During the funeral scene in the movie “Bad Grandpa,” one of the extras is wearing a Huntington pen on a chain around his neck.
Huntington will continue to distribute the pens with its next goal of reaching the 34 million pen milestone – or a pen for each household in the markets it serves.

About Huntington

Huntington Bancshares Incorporated (NASDAQ: HBAN and www.huntington.com) is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.



(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...Branch-Pens-in-Milestone-Giveaway-5054623

Huntington Bancshares Incorporated is a $60 billion asset regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,500 ATMs. Through automotive dealership relationships within its six-state retail banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.



(c)Business Wire. All of the news releases contained herein are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire's members, who warrant that they are solely responsible for the content, accuracy and originality of the information contained therein. All reproduction, other than for an individual user's personal reference, is prohibited without prior written permission.http://www.ariva.de/news/...gan-Stanley-Financials-Conference-5059901