Huntington Bancshares closed its merger with TCF Financial. The combined company has approximately $175 billion in assets, $142 billion in deposits and $116 billion in loans based on March 31, 2021, balances.
The shareholders of Huntington Bancshares and TCF Financial approved the proposed merger of TCF into Huntington at their respective special meetings of shareholders.
Huntington Bancshares, the parent company of Huntington National Bank, and TCF Financial, the parent company of TCF National Bank, signed an agreement under which the companies will combine in an all-stock merger with a total market value of approximately $22 billion.
Craig R. Dahl will retire as president and CEO of TCF Financial, effective Oct. 27, following the integration between TCF Bank and Chemical Bank. The company’s board elected David T. Provost TCF Financial CEO and Thomas C. Shafer CEO of TCF National Bank.
TCF Bank unveiled a $1 billion loan commitment to minority communities and minority- and women-owned small businesses, and a $10 million grant program to assist low-to-moderate income home buyers.
Chemical Bank moived its headquarters to downtown Detroit and plans to construct a new 20-story building in the area.