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
City, Traverse Connect Target Economic Development Goals
Read More >>After “Top Chef” and Two Acclaimed Restaurants, Detroit Chefs Eye Next Adventure: Traverse City
Read More >>Home Sales In Holding Pattern to Start Year
Read More >>Presbyterian Church of Traverse City To Host Earth Day Open House
Read More >>
City Commission Explores Short-Term Rental Options
Read More >>TC Phil Announces Summer Concerts, 2025-26 Season
Read More >>Traverse City Becomes a Metropolitan Statistical Area
Read More >>City to Start Enforcing Camping Ban at Pines on May 6
Read More >>Garfield Township Updates: Assessor Swap, Potter Road, Permit Changes
Read More >>The Gift of Time: Wings of Mercy And The TVC 5K
Read More >>