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
Sheep & Solar Panels: The Solution For Struggling Local Farms?
Read More >>Crooked Tree To Host First Annual Fundraiser
Read More >>City Readies Ethics Ordinance
Read More >>Parks, Streets on City Agenda
Read More >>
Animals Take the Spotlight in Northern Express
Read More >>Barney Road Construction, Closure Starts Monday
Read More >>NMC Partners With Grand Valley, Notre Dame For Groundbreaking New Marine Technology Program
Read More >>Beating The Curve: A Look at Traverse City’s Grade-A Summer 2025 Tourism Season
Read More >>East Bay Trustees Review TIF District, Approve Housing Tax Exemption
Read More >>Food Trucks, Preschool, US-31 Development on Garfield Agenda
Read More >>