Huntington Bancshares is buying Chicago-based Hutchinson, Shockey, Erley & Co., a public-finance investment bank and broker-dealer with a focus on municipal securities.
The purchase price was not disclosed. The deal is expected to close before the end of the year.
Founded in 1957, the company serves state and local government and nonprofits. It underwrites and structures debt that funds school construction, infrastructure development and other capital projects.
The company has 11 offices in nine states with 51 employees.
The current management team will continue to be led by CEO Ton Dannenberg. The company will continue to operate under the same name and remain in Chicago.
The Columbus Dispatch
by Mark Williams