BleedGopher
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TCF Bank is being bought out again, this time by Huntington Bank based in Ohio. Huntington has a better brand than Detroit Chemical (which had kept the TCF name), and that will likely turn TCF Bank Stadium into Huntington Bank Stadium:
Detroit-based TCF Financial Corp. will merge into Huntington Bancshares Inc. in a $22 billion all-stock merger that creates one of the largest regional banks in the U.S. with dual headquarters in Detroit and Columbus, Ohio, the companies announced Sunday.
With Huntington, a major player in the industrial Midwest, the merger will create one of the top 10 largest regional banks in the country. The deal is expected to close in the second quarter of 2021 subject to regulatory and shareholder approval.
The headquarters for the commercial bank will be in TCF's new building under construction in Detroit on Woodward Avenue and Elizabeth Street, which will be dubbed the Huntington Tower. Columbus will remain the headquarters for the holding company and the consumer bank, which will represent about 40% of the combined company's business.
Go Gophers!!
Detroit-based TCF Financial Corp. will merge into Huntington Bancshares Inc. in a $22 billion all-stock merger that creates one of the largest regional banks in the U.S. with dual headquarters in Detroit and Columbus, Ohio, the companies announced Sunday.
With Huntington, a major player in the industrial Midwest, the merger will create one of the top 10 largest regional banks in the country. The deal is expected to close in the second quarter of 2021 subject to regulatory and shareholder approval.
The headquarters for the commercial bank will be in TCF's new building under construction in Detroit on Woodward Avenue and Elizabeth Street, which will be dubbed the Huntington Tower. Columbus will remain the headquarters for the holding company and the consumer bank, which will represent about 40% of the combined company's business.
TCF to merge into Huntington in $22B deal; dual headquarters planned
The combination will create one of the top 10 largest regional banks in U.S., companies say in announcing merger Sunday night
www.detroitnews.com
Go Gophers!!