Huntington Bancshares Inc. on Tuesday reported an increase in first-quarter earnings, revised profit expectations for 2008, and a plan to issue convertible preferred shares.
The bank said first-quarter earnings were $127.1 million, or 35 cents a share, up from $95.7 million, or 40 cents a share, in the same quarter in 2007.
Huntington also said it has started to offer at least $500 million of convertible preferred shares. Proceeds will be used to increase Huntington's capital, among other uses.
Huntington Bancshares Inc. is a $53 billion Midwestern bank holding company headquartered in Columbus, Ohio. It is the 24th largest American bank.
Russian Finance Minister Anton Siluanov announced a possible move that Russia can take in response to new US sanctions
The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America