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Huntington Bancshares to buy Hutchinson Shockey Erley & Co.

Columbus, Ohio-based Huntington Bancshares Inc. agreed to buy Hutchinson Shockey Erley & Co., a Chicago-based public finance investment bank and broker/dealer with a focus on municipal securities.

Financial terms of the deal were not disclosed.

Current CEO Thomas Dannenberg will continue to head Hutchinson Shockey Erley & Co.

The firm will operate as a stand-alone broker/dealer working under Huntington Capital Markets, and it will continue to function under the Hutchinson Shockey Erley & Co. brand and remain headquartered in Chicago.

The deal is expected to close in the fourth quarter.

Keefe Bruyette & Woods Inc. was exclusive financial adviser to Hutchinson Shockey Erley & Co.