Ex-Citizens CEO to head Ohio bank

Stephen D. Steinour, who ran Citizens Bank of Pennsylvania, will become chief executive and chairman of the Huntington Bancshares Inc., in Columbus, Ohio.

Steinour, who also will be president, replaces Thomas E. Hoaglin as chief executive. Hoaglin is retiring at the end of February. Huntington is a $55 billion regional bank.

The company's lead director says his fellow directors like the fact that Steinour, who once headed the Philadelphia Chamber of Commerce, became familiar with target markets in Ohio and Western Pennsylvania as he moved up the ranks at Citizens and contributed to its growth.

While at Citizens, he oversaw several major bank acquisitions and integrations.

He was chief executive of Citizens Financial Group by the time he resigned last March.

Steinour then joined CrossHarbor Capital Partners in Boston as a managing partner, working in Philadelphia. As an inducement, Steinour will get options on a million shares of the bank stock, exercisable over the next five years.