Huntington Bancshares in Columbus, Ohio, has agreed to buy Macquarie Equipment Finance in Bloomfield Hills, Mich.

The $66 billion-asset Huntington would gain about $900 million in assets and take on roughly $630 million in debt, securitizations and other liabilities as part of the transaction with Australia's Macquarie Group. The equipment finance also has about $500 million of annual originations. Huntington said the deal, which should be accretive to earnings in its first year, should be completed by March 31.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.