By Becky Yerak
Two new bank branches in lower-income or largely minority Chicago neighborhoods are expected to open as Huntington Bank seeks to win over community groups as it awaits regulatory approval for its acquisition of FirstMerit Bank.
The merger deal, which is expected to be completed in the third quarter, will mark Huntington’s retail entry into the Chicago market.
On Monday, Chicago-based Woodstock Institute, one of the housing, community and civil rights groups that has met with Huntington, said it’s happy with a $16 billion community development plan, which covers about 10 markets, developed in agreement between Huntington and various backers of community reinvestment efforts. Huntington announced the plan Friday.