Camco Financial Explained

Camco Financial Corporation
Type:Public
Traded As:NASDAQ:
Industry:Financial services
Foundation:1970[1]
Location:Cambridge, Ohio, U.S.
Key People:James Huston (chairman & CEO)
Operating Income: US$ 31.623 million (2012)[2]
Net Income: US$ 4.163 million (2012)
Assets: US$ 764.259 million (2012)
Num Employees:200(2012)[3]

Camco Financial Corporation, or Camco Financial, headquartered in Cambridge, Ohio, was a registered bank holding company under the law of Delaware.[3] It wholly owned the Ohio-based Advantage Bank and operated 22 offices in Ohio, Kentucky and West Virginia.[4] Camco offered a wide range of banking services through Advantage Bank.[4] [5] As of December 31, 2012, Camco had $764.259 million in total assets, $59.727 million in total stockholders' equity and $627.224 million in deposits.[4]

Camco ended in 2014, following a merger with Huntington Bancshares.

History

On October 19, 1970, Camco Financial Corporation was organized as a holding company.[5]

In June, 2001, Camco Financial Corporation finished the reorganization and it combined the banking activities under the Advantage Bank.[6]

In 2004 Camco Financial Corporation merged with London Financial Corporation of London, Ohio, along with its wholly owned subsidiary, The Citizens Bank of London.[6]

In 2013, the corporation declared the termination of a Consent Order dating back to February 9, 2012, issued by the Federal Deposit Insurance Corporation (FDIC) and the State of Ohio's Department of Commerce, Division of Financial Institutions (Ohio Division).[7]

In 2013, Camco was purchased by Huntington Bancshares.[8] The merger was complete by March 2014, ending Camco Financial's independent existence.[9]

Notes and References

  1. News: Foundation time. Reuters. 2017-07-02. 2013-12-30. https://web.archive.org/web/20131230233432/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=CAFI.O. dead.
  2. Web site: Selected Financial Data.
  3. Web site: CONSUMER AUTOMOTIVE FINANCE INC (CAFI) Company Profile & Facts - Yahoo Finance.
  4. Web site: EDGAR Pro.
  5. News: Company Search . Reuters . 2017-07-02 . 2013-12-30 . https://web.archive.org/web/20131230233432/http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=CAFI.O . dead .
  6. Web site: Company History . https://web.archive.org/web/20131231000307/http://www.advantagebankonline.com/home/about/history . 2013-12-31 . www.advantagebankonline.com.
  7. Web site: Camco Financial Announces Termination of Consent Order . https://web.archive.org/web/20131231000359/https://finance.yahoo.com/news/camco-financial-announces-termination-consent-132157526.html . 2013-12-31. finance.yahoo.com . 2013-12-30.
  8. Web site: Huntington-Camco deal to close March 1. live. https://web.archive.org/web/20140309042019/http://www.bizjournals.com:80/columbus/news/2014/02/26/huntington-camco-deal-to-close-march-1.html . 2014-03-09 . 2020-08-21. www.bizjournals.com.
  9. Web site: Huntington Bancshares Expands in Ohio with Closing of Acquisition of Camco Financial, Parent of Advantage Bank . March 4, 2014 . Columbus, Ohio . Huntington Bancshares . September 11, 2016.