Wachovia Corp. and Huntington Bancshares are expected to announce today that they will invest in the new bank that a Kentucky thrift is setting up on the Internet.

Each of the two superregionals will plunk down $2 million to facilitate the birth of Security First Network Bank, currently a Pineville, Ky.-based unit of Cardinal Bancshares that will be spun off as a completely Internet- based bank later this year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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