Banks play name game: Sky purchases Union Federal, then sells to Huntington:
Union Federal Bank became Sky Bank after Ohio-based Sky Financial Group in October completed its $322 million purchase of Indianapolis’ largest locally based financial institution. But the Sky signs won’t be up for long. On Dec. 20, Sky announced it was being acquired by another Ohio-based financial institution, Huntington Bancshares Inc., for $3.6 billion. The deal will elevate Huntington to Indianapolis’ third-biggest bank. It had ranked eighth, based on employees. Locally, it has 20 locations and 270 employees. Sky has…