TAMPA,
Fla., June 6, 2025 /PRNewswire/ -- Argent
Institutional Trust Company (AITC), a Tampa, Florida-based trust company and a
leading provider of corporate and institutional trust services,
today announced it has entered into a definitive agreement to
acquire the corporate trust and institutional custody business of
The Huntington National Bank ("Huntington"), a wholly owned banking
subsidiary of Huntington Bancshares Incorporated (Nasdaq:
HBAN).
This strategic acquisition will significantly expand AITC's
institutional trust footprint, deepening its capabilities and
strengthening its position as a national leader in corporate trust
and custody services. The transaction includes the transfer of key
client relationships, personnel, and operational infrastructure
from Huntington to AITC.
AITC and Huntington will have
an ongoing relationship in which Argent will provide corporate
trust, escrow, and custody solutions to Huntington's business and commercial banking
clients. By aligning AITC's administration teams with Huntington's corporate, commercial, and
government banking teams, clients will continue to have access to
their current banking solutions through Huntington plus an expanded array of corporate
trust and institutional custody options through AITC. Key
Huntington personnel will be
transferring to AITC, meaning clients will continue to receive
exceptional service.
"This acquisition aligns with our long-term growth strategy and
commitment to delivering high-quality, customized trust and agency
solutions," said Anthony (Tony)
Guthrie, Chairman of AITC. "We are excited to welcome
Huntington's talented team and
their clients to AITC. This addition enhances our scale, expertise,
and the depth of service we can offer to our institutional partners
across the country."
"I'm delighted that Huntington
recognized the expertise and quality of corporate trust and
institutional custody services at AITC and was confident that its
clients would continue to receive unparalleled support from a
full-service provider," added Steven B.
Eason, CEO of AITC.
Huntington's corporate trust
and institutional custody business, which provides bond trustee,
paying agent, escrow agent, collateral agent, and custody services
to corporations, municipalities, mutual funds, and not-for-profit
clients, will be integrated into AITC's national platform through
the acquisition, ensuring continuity for existing clients while
enhancing service flexibility and innovation.
"Our mission is to keep clients at the center of all we do, and
this relationship allows these corporate trust and institutional
custody clients to continue to benefit from a high level of
expertise, service and commitment to their financial success," said
Melissa Holding, Executive Vice
President and Director of Wealth Management at Huntington. "We're confident that clients will
continue to receive the exceptional service they have come to
expect, and that both clients and colleagues will experience a
seamless transition."
AITC plans a seamless transition, with full integration expected
to be completed in the coming months. The company will continue to
operate with the same client-centered philosophy that has defined
its more than 70-year history.
About Argent Institutional Trust Company (AITC)
Originally founded as Trust Management Incorporated in 1954, TMI
was a Texas-chartered trust
company. In August 2023, TMI merged
with Argent Financial Group to become AITC and is headquartered in
Tampa, FL, as a Florida trust company. Since its inception,
AITC has grown into a full-service provider of trust and agency
services.
AITC operates administration offices in Tampa (FL), Atlanta (GA), Fort
Worth (TX), Milwaukee (WI),
and New York City (NY), delivering
exceptional client care across four primary service categories:
trustee, escrow, and loan agency; custody services; IRA; family
office and investment partnerships.
AITC is a wholly owned subsidiary of Argent Financial Group
(Argent), a leading, independent client asset services firm with a
particular focus on corporate trust and custody services through
AITC. Following this acquisition, the firm will be responsible for
more than $175 billion in client
assets. Formed in 1990 in Ruston,
Louisiana, Argent can trace its roots back to 1930. For more
information, visit www.ArgentFinancial.com.
About Huntington
Huntington Bancshares Incorporated is a $210
billion asset regional bank holding company headquartered
in Columbus, Ohio. Founded in
1866, The Huntington National Bank and its affiliates provide
consumers, small and middle‐market businesses, corporations,
municipalities, and other organizations with a comprehensive suite
of banking, payments, wealth management, and risk management
products and services. Huntington
operates 968 branches in 13 states, with certain businesses
operating in extended geographies. Visit Huntington.com for more
information.
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SOURCE Argent Institutional Trust Company
