Stephen Steinour, Huntington Bancshares Inc.'s new chief executive, said Tuesday that the Columbus, Ohio, banking company could be poised for an acquisition spree after getting its financial "house in order."

"I believe the bank's in a very good strategic position to be a consolidator in the Midwest," Mr. Steinour said during a conference presentation Tuesday in New York. "We love the sort of options, not just in Ohio but in [our] six-state footprint. There are thousands of banks to think about … . In this cycle there will be bank failures in our footprint."

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