Huntington Bank To Acquire TCF Bank
Dec. 15, 2020
Bank consolidation continues: Huntington Bank agreed to acquire TCF Bank less than two years after TCF acquired Chemical Bank. The all-stock deal, which will pay an 11 percent premium on TCF's shares, is likely to close in 2021. The combined bank will become one of the 20 largest in the U.S.
No word yet on any potential impact on Traverse City area branches or jobs.
Per the most recent FDIC filings, TCF operates six Traverse City branches; its Grand Traverse County banking market share is 17.3 percent, putting them in second place behind Fifth Third. Huntington operates four Traverse City branches and is ranked fourth in deposits with 14.7 perecnt market share.
More on the proposed deal here.
Comment
From Protest Walkouts to Turning Point Launch, Students Get Engaged Politically
Read More >>GTB Announces Latest Round Of 2% Grants
Read More >>Kingsley Contractor Charged with Fraud
Read More >>Hurshe Out at Munson Medical Center
Read More >>
Folded Leaf Coming to Commongrounds, “Clean” Café Opening on Front Steet; More Restaurant/Retail News
Read More >>Farmhouse Fire Shuts Down Hammond Road
Read More >>The 2026 Bayshore Marathon Will Be An Olympic Trials Qualifying Event
Read More >>Global Brand, Local Focus: Inside Interlochen's New Northern Michigan Opportunity Scholarship
Read More >>NMC Finalizes Boardman Lake Campus Sale
Read More >>Road Commission Eyes Partnerships for Zimmerman Extension, More Road Projects
Read More >>