Huntington Bancshares completed its acquisition of Capstone Partners, an investment banking and advisory firm, creating an expanded banking experience for clients in Huntington’s capital markets and commercial banking franchise.
According to an 8K filed with the SEC, Thomas C. Shafer will retire as senior executive vice president and co-president of the commercial bank of Huntington Bancshares. Upon Shafer’s departure from his current role, Scott Kleinman will become president of the commercial bank.
Brant J. Standridge will join Huntington Bancshares as president of consumer and business banking, effective in early April 2022.
Huntington Bancshares entered into a definitive agreement to acquire Capstone Partners, an investment banking and advisory firm. The transaction is expected to close in Q2/22, subject to receipt of required regulatory approvals and satisfaction of customary closing conditions.
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 Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency approved the proposed merger of Huntington Bancshares and TCF and of Huntington National Bank and TCF National Bank.
The shareholders of Huntington Bancshares and TCF Financial approved the proposed merger of TCF into Huntington at their respective special meetings of shareholders.
Tom Shafer, CEO of TCF, and Mike Jones, COO of TCF, will join Huntington’s executive leadership team following the completion of Huntington’s merger with TCF. Huntington also appointed Donald Dennis to its executive leadership team as chief diversity, equity and inclusion officer and executive vice president of learning and development.
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.