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
Boardwalk Construction Starting in Pelizzari Natural Area
Read More >>The Story Behind NMC's Years-In-The-Making Mascot
Read More >>Flood Updates: South Airport Reopened, Hartman Light Coming Tuesday & More
Read More >>Co-Location Proposal Spins Carnegie RFP Process in New Direction
Read More >>
Paddling Film Fest Planned Wednesday at Howe Arena
Read More >>A New Cannabis Tax Affects Locally-Owned Dispensaries
Read More >>South Airport Road Monitoring Continues, Hartman Lights Planned
Read More >>Troubled Waters Ahead For The Great Lakes?
Read More >>Rare Bird Brewpub Expected to be Closed 2-3 Months Following Fire
Read More >>Who Pours The Most? Ranking Traverse City's Bars & Restaurants
Read More >>