A major merger between Ohio-based Huntington Bank and TCF National Bank has just been announced. Huntington Bancshares Inc. will acquire TCF Financial Corp. in an all-stock deal valued at almost $6 billion, one of the largest regional bank tie-ups this year. The seeds of Huntington Bancorp’s $6 billion deal for the $48 billion-asset TCF Financial were planted mid-October, at the annual fundraising dinner for . Forward-looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The merger uniquely positions the combined organization to capitalize on market opportunities and broaden the channels and customers it serves through expanded distribution and product offerings. The planned merger of Detroit-based TCF Financial Corp. into Huntington Bancshares of Columbus, Ohio, will result in 198 branch closures, including 97 branches that are inside Meijer stores. Huntington Banks merge with TCFThose TCF Bank signs will change in 2021 after an all stock merger was announced by Huntington Bancshares Incorporated, the parent company of The Huntington National Bank and TCF Financial Corporation, the parent company of TCF National Bank.The companies will combine in an all-stock merger with a total market value of approximately $22 billion. Connect with friends faster than ever with the new Facebook app. “We will be a top regional bank, with the scale to compete and the passion to serve. TCF Bank's deal to be merged into Huntington Bank marks the 14th merger that Torgow has had a hand in engineering since buying a small Troy-based bank … The newest round of Paycheck Protection Program loans has begun and Huntington Bank expects to be a major player again. Founded in 1866, The Huntington National Bank and its affiliates To contact Huntington on press matters, please reach out to our media relations team. Two big bank holding companies with huge name recognition in Michigan — Columbus, Ohio-based Huntington Bancshares and Detroit-based TCF Financial Corp. — … Huntington Bancshares and TCF Financial Corp. on Dec. 13 announced an all-stock merger agreement with a total market value of $22 billion. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. The announced merger between Columbus, Ohio-based Huntington Bancshares Inc. and TCF Financial Corp. may create opportunities for community banks to gain customers and employees from the disruption. The merger is expected to close in the second quarter of 2021, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company. In a $6 billion all-stock merger, the combined companies will be among the top 10 U.S. regional banks with dual headquarters in Detroit and Columbus. Visit huntington.com for more information. Huntington Bancshares is merging with TCF Bank in a $22 billion deal that’s set to be completed next year. Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $120 billion of assets and a network of 839 full-service branches, including 11 Private Client Group offices, and 1,330 ATMs across seven Midwestern states. Huntington Bancshares Incorporated and TCF Financial Corporation announced a planned merger, with the combined company operating under the Huntington … Also in 2020, Huntington … That would nudge post-merger Huntington into the top 20 banks in the country by asset size. Gary Torgow will serve as chairman of the bank’s board of directors. Information regarding TCF’s directors and executive officers is available in its definitive proxy statement relating to its 2020 Annual Meeting of Shareholders, which was filed with the SEC on March 25, 2020, and other documents filed by TCF with the SEC. Columbus will remain the headquarters for the holding company and the Consumer Bank. 6 min ago TCF Bank halted its plans to construct a building at 5646 West U.S. 10 after it announced a merger with Huntington National Bank in December. Merging also … TCF Bank was headquartered in the Twin Cities until last year, when it was bought by a Detroit company, Chemical Bank. The headquarters for the Commercial Bank will be in Detroit where at least 800 employees of the combined company, nearly three times the number TCF had planned, will be housed in the downtown structure. A major merger between Ohio-based Huntington Bank and TCF National Bank has just been announced. By 2021, TCF bank centers and ATMs will be rebranded as Huntington. Simpson Thacher & Bartlett LLP is serving as legal advisor to TCF. Read more…. (Reuters) - Huntington Bancshares Inc has agreed to buy TCF Financial Corp for $6 billion in stock, marking the latest tie-up among U.S. regional lenders seeking scale. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. December 14, 2020 Media: Matt Samson (matt.b.samson@huntington.com), 312.263.0203 Randi Berris (randi.berris@tcfbank.com), 248.608.5293 COLUMBUS, Ohio and DETROIT, Dec. 14, 2020 – Huntington Bancshares Incorporated (“Huntington”) 1 Footprint defined as IL, IN, MI, MN, OH, WI, WV, Denver and Pittsburgh. Slides will be available in the Investor Relations section of Huntington’s website. UK. Huntington Bank to merge with TCF Bank leading to a new name for TCF Center in 2021 when merger is completed. Huntington Bancshares And TCF Financial Corporation Announce Merger To Create Top 10 U.S. Additional factors that could cause results to differ materially from those described above can be found in Huntington’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended September 30, 2020, each of which is on file with the Securities and Exchange Commission (the “SEC”) and available in the “Investor Relations” section of Huntington’s website, http://www.huntington.com, under the heading “Publications and Filings” and in other documents Huntington files with the SEC, and in TCF’s Annual Report on Form 10-K for the year ended December 31, 2019 and in its subsequent Quarterly Reports on Form 10-Q, including for the quarter ended September 30, 2020, each of which is on file with the SEC and available on TCF’s investor relations website, ir.tcfbank.com, under the heading “Financial Information” and in other documents TCF files with the SEC. We believe that we will be stronger together and that this combination will benefit you. Free copies of this document may be obtained as described in the preceding paragraph. Such statements are subject to numerous assumptions, risks, and uncertainties. Operating under the Huntington name, the bank would become a top 10 regional bank in the U.S. Huntington buys TCF for $6 bln in U.S. regional bank merger wave Back to video Shares in Detroit-headquartered TCF were 3.5% higher at $36.01, while Huntington’s stock slipped 5% to $12.27 after news of the deal, which was announced in a joint statement on Sunday. According to the company, they will operate under the Huntington name. With this latest merger, development will be on hold until the property’s future can be reassessed. The combined company will bring together two purpose-driven organizations with a deep commitment to the customers and communities they serve. By joining up with TCF, Huntington expects to realize $490 million in cost savings and believes the merger will increase earnings by 18% by 2022. Huntington Bancshares nearing merger with TCF Financial - WSJ ... Group Inc PNC.N for $11.6 billion in cash in one of the biggest global bank deals this year. Different privacy and security practices may apply. MINNEAPOLIS (WCCO) — A bank name that’s been part of the Twin Cities since the 1930s will soon be gone. emily.smith@huntington.com Emily Smith When combining the two lending portfolios of HBAN and TCF, I think of a great mix of both commercial and retail. The planned merger of Detroit-based TCF Financial Corp. into Huntington Bancshares of Columbus, Ohio, will result in 198 branch closures, including 97 branches that are inside Meijer stores. Under the merger, Huntington will take over TCF, meaning the Michigan-based bank will lose its name. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Like us on Facebook to see similar stories, Coronavirus updates: Eli Lilly treatment cuts hospitalizations 70%; US buying 200M more vaccine doses, Joe Biden's 'climate day' of executive actions signals clean break with Trump. TCF, Huntington Banks To Merge In $22B Deal By Bria Brown December 14, 2020 at 12:24 pm Filed Under: Banking , detroit , Huntington Bank , merger , Michigan , Ohio , tcf financial Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states. Huntington expects the financially compelling transaction to be 18% accretive to earnings per share in 2022, assuming the fully phased-in transaction cost synergies. provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and Huntington is focused on accelerating digital investments to further enhance our award-winning people-first, digitally powered customer experience,” Steinour said. Huntington Bancshares Inc HBAN 0.8% and TCF Financial Corporation TCF 0.93% announced late Sunday the two banks have agreed to merge in an all-stock deal. (614) 480-6834. On Sunday night TCF Financial Corp. and Columbus, Ohio-based Huntington Bancshares Inc., announced an all-stock merger to create “a top 10 U.S. regional bank.” The TCF … Huntington Bank will merge with Detroit-based TCF Financial in an all-stock deal worth $6 billion, the banks jointly announced Monday, Dec. 14, the latest in a recent wave of bank mergers that is creating a new crop of large regional banks across the country. TCF has approximately 475 branches primarily located in Michigan, Illinois and Minnesota with additional locations in Colorado, Ohio, South Dakota and Wisconsin. Also in 2020, Huntington … Investment, Insurance and Non-deposit Trust products are: NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY • MAY LOSE VALUE. Upon closing, Stephen D. Steinour will remain the chairman, president, and CEO of the holding company and CEO and president of the bank. The deal will create a regional bank with $168 billion in assets, $117 billion in loans, and $134 billion in deposits. 01/22/2021 04:44 09:31 AM EST, 01/22/2021 (MT Newswires) -- TCF Financial (TCF), the parent company of TCF Bank, reported pre-market Friday Q4 adjusted EPS of $0.75, down from $1.04 a … The combined Huntington-TCF entity would maintain two headquarters: its consumer business would run out of Columbus, Ohio, and its commercial bank — comprising 60% of the combined bank's loan portfolio — would be based in Detroit. YOUNGSTOWN, Ohio – When its merger with TCF Financial Corp. is completed next year, the new scale of Huntington Bank will allow it to invest more in technology and expand its reach among small businesses, CEO Stephen Steinour says. The merger is … Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Together we will have a stronger company better able to support our customers and drive economic growth in the communities we serve.”. Huntington Bancshares Inc. will acquire TCF Financial Corp. in an all-stock deal valued at almost $6 billion, one of the largest regional bank tie-ups this year. About Huntington ®, Huntington®,Huntington.Welcome.® and Huntington Heads Up® are federally registered service marks of Huntington Bancshares Incorporated. A major merger between Ohio-based Huntington Bank and TCF National Bank has just been announced. See you back here soon! “This merger combines the best of both companies and provides the scale and resources to drive increased long-term shareholder value. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials filed with the SEC. Huntington Center is a helluva lot more aesthetic than TCF Center. Show full articles without "Continue Reading" button for {0} hours. The proposed transaction involving Huntington and TCF will be submitted to TCF’s shareholders and Huntington’s shareholders for their consideration. With overlapping markets, management said they … Huntington Bancshares Incorporated, the parent company of The Huntington National Bank, and TCF Financial Corporation, the parent company of TCF National Bank, announced the signing of … Read more…, Committed to the economic development of local communities, learn about how a Huntington Bank near you is contributing and how to get involved. The call may be accessed via a live Internet webcast at the Investor Relations section of Huntington’s website, www.huntington.com, or through a dial-in-telephone number at (877) 407-8029, Conference ID# 13714197. TCF Financial Corporation (Nasdaq: TCF) is a Detroit, Michigan-based financial holding company with $48 billion in total assets at Sept. 30, 2020 and a top 10 deposit market share in the Midwest. Huntington Bancshares has a … TCF Bank Merging With Huntington, Will Likely Rebrand And Drop Name In 2021. TCF, Huntington Banks To Merge In $22B Deal By Bria Brown December 14, 2020 at 12:24 pm Filed Under: Banking , detroit , Huntington Bank , merger , Michigan , Ohio , tcf financial COLUMBUS, Ohio and DETROIT, Dec. 13, 2020 – Huntington Bancshares Incorporated (“Huntington”) (Nasdaq: HBAN; www.huntington.com), the parent company of The Huntington National Bank, and TCF Financial Corporation (“TCF”) (Nasdaq: TCF; www.tcfbank.com), the parent company of TCF National Bank, today announced the signing of a definitive agreement under which the companies … All forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington Bancshares Incorporated and TCF Financial Corporation announced a planned merger, with the combined company operating under the Huntington … Huntington’s senior management will host a conference call at 8:30 a.m. Eastern Time, Monday, December 14, 2020, to discuss the strategic and financial implications of the transaction. Your Company Administrator is the only individual able to reset your password. Huntington Bancshares, the parent company of Huntington National Bank, and TCF Financial, the parent company of TCF National Bank, signed a definitive agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit and Columbus, OH. In December, Huntington and TCF announced the merger in a $22 billion deal. TCF Bank announced its merger with Huntington Bank on Dec. 13. Huntington, TCF, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of Huntington and TCF in connection with the proposed transaction under the rules of the SEC. COLUMBUS, Ohio and DETROIT, Dec. 13, 2020 – Huntington Bancshares Incorporated (“Huntington”) (Nasdaq: HBAN; www.huntington.com), the parent company of The Huntington National Bank, and TCF Financial Corporation (“TCF”) (Nasdaq: TCF; www.tcfbank.com), the parent company of TCF National Bank, today announced the signing of a definitive agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit, Michigan and Columbus, Ohio. Information regarding Huntington’s directors and executive officers is available in its definitive proxy statement relating to its 2020 Annual Meeting of Shareholders, which was filed with the SEC on March 12, 2020, and other documents filed by Huntington with the SEC. Neither Huntington nor TCF assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. In connection with the proposed transaction, Huntington will file with the SEC a Registration Statement on Form S-4 that will include a Joint Proxy Statement of Huntington and TCF and a Prospectus of Huntington, as well as other relevant documents concerning the proposed transaction. According to TCF Bank, it’s anticipated that TCF bank centers and ATMs will be rebranded as Huntington in 2021. At closing, five current TCF Directors will be added to the Board of Directors of the holding company. We want you to have a great experience while you're here. Shareholders will be able to obtain a free copy of the definitive joint proxy statement/prospectus, as well as other filings containing information about Huntington and TCF, without charge, at the SEC’s website (http://www.sec.gov). 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… The Huntington-TCF merger is the latest deal among regional banks, who have looked to get bigger and more competitive against the Wall Street titans like JPMorgan Chase, Citigroup and Bank … Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, TCF will merge into Huntington, and the combined holding company and bank will operate under the Huntington name and brand following the closing of the transaction. TCF Financial Corporation and Huntington Bancshares Incorporated announced Monday they will combine in an all-stock merger … The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. (WXYZ) — Two banks with presences in Michigan are merging. Media Contact: Banking. © 2021 Huntington Bancshares Incorporated. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses. With a rich history of caring for customers and colleagues, the new organization will have a top 5 rank in approximately 70% of its deposit markets1 and will leverage its scale to serve customer needs through a distinctive, “People-First, Digitally-Powered” customer experience. The pro forma combined company will have approximately $168 billion in assets, $117 billion in loans, and $134 billion in deposits. The merger with TCF was announced in January 2019. Under the merger, Huntington will take over TCF, meaning the Michigan-based bank will lose its name. By Reuters Staff. A bank name that’s been part of the Twin Cities since the 1930s will soon be gone. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington Bank and TCF Bank agreed to merge Sunday in an all-stock deal to create a regional bank with nearly $168 billion in assets, $117 billion in loans, $134 billion in deposits and $22 billion in market value, the companies said in a press release. Inc. is combining the two companies together to create a top 10 U.S. regional Bank merger wave Ohio-based. 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