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Huntington CEO Sees Small Banks Merging Even Amid U.S. Crackdown

  • Says Citizens deal for Investors may be last of large tie-ups
  • Huntington has work to do integrating TCF, Steinour says
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Huntington Bancshares CEO Sees Smaller Banks Consolidating

Huntington Bancshares Inc. Chief Executive Officer Steve Steinour said Citizens Financial Group Inc.’s $3.5 billion agreement to buy Investors Bancorp Inc. would probably be one of the last major financial-sector deals as smaller firms step into the spotlight.

“There’s more bank consolidation that will occur, not necessarily of significant sizes,” Steinour said in a Bloomberg Television interview Thursday. “You’ll see more smaller banks getting together because there is a scale to this business.”