At TCF, we promise to treat your data with respect and will not share your information with any third party. Simpson, Thacher & Bartlett LLP is serving as legal advisor to TCF. Keefe, Bruyette & Woods, a Stifel Company, is serving as financial advisor to TCF. The newly-combined company will operate under … Goldman Sachs & Co. LLC is serving as financial advisor to Huntington. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. 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. Huntington Bank announced it is merging with TCF Bank in a $22 billion deal and made a $5 billion commitment to Michigan in 2020, further cementing the bank’s West Michigan influence. You must click the activation link in order to complete your subscription. 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. Huntington Buys TCF for $6 Billion in U.S. “We look forward to welcoming the TCF Team Members. 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. (CBS DETROIT) – Detroit-based TCF Financial Corp. will merge into Huntington Bancshares Inc. as part of a $22 billion deal. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses. “This partnership will provide us the opportunity for deeper investments in our communities, more jobs in Detroit, an increased commitment in Minneapolis and a better experience for our customers,” Torgow said. It's valued at around $22 million. Merging with the Huntington platform will be a great benefit to all of our stakeholders and will drive significant opportunities for our team members.”. The pro forma combined company will have approximately $168 billion in assets, $117 billion in loans, and $134 billion in deposits. 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). While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements:  changes in general economic, political, or industry conditions; the magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and our business, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; movements in interest rates; reform of LIBOR; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basel III regulatory capital reforms, as well as those involving the OCC, Federal Reserve, FDIC, and CFPB; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement between Huntington and TCF; the outcome of any legal proceedings that may be instituted against Huntington or TCF; delays in completing the transaction; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the transaction); the failure to obtain shareholder approvals or to satisfy any of the other conditions to the transaction on a timely basis or at all; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Huntington and TCF do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; the ability to complete the transaction and integration of Huntington and TCF successfully; the dilution caused by Huntington’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Huntington and TCF. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. After submitting your request, you will receive an activation email to the requested email address. To opt-in for email alerts, please enter your email address in the field below and select at least one alert option. 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 … TCF has approximately 475 branches primarily located in Michigan, Illinois and Minnesota with additional locations in Colorado, Ohio, South Dakota and Wisconsin. Bank with a team that supports your financial wellness. This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Huntington and TCF, the expected timing of completion of the transaction, and other statements that are not historical facts. Huntington Bancshares And TCF Financial Corporation Announce Merger To Create Top 10 U.S. TCF Financial — whose name is on TCF Bank Stadium and whose Minnesota roots run to the 1920s — will merge with Ohio-based Huntington Bancshares in a … On August 5, 2019, the merger was completed creating the new TCF Bank. INVESTORS AND SHAREHOLDERS OF HUNTINGTON AND SHAREHOLDERS OF TCF ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. 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. All Rights Reserved. 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. Slides will be available in the Investor Relations section of Huntington’s website. 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 markets[1] and will leverage its scale to serve customer needs through a distinctive, “People-First, Digitally-Powered” customer experience. [1] Footprint defined as IL, IN, MI, MN, OH, WI, WV, Denver and Pittsburgh. 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. Together we will have a stronger company better able to support our customers and drive economic growth in the communities we serve.”, “This partnership will provide us the opportunity for deeper investments in our communities, more jobs in Detroit, an increased commitment in Minneapolis and a better experience for our customers,” Board chair Gary Torgow said. Gary Torgow will serve as chairman of the bank’s board of directors. Huntington Bancshares And TCF Financial Corporation Announce Merger To Create Top 10 U.S. ©1999-2020 TCF Financial Corporation. Merging with the Huntington platform will be a great benefit to all of our stakeholders and will drive significant opportunities for our team members.”. If you experience any issues with this process, please contact us for further assistance. Regional Bank Merger Wave By Reuters , Wire Service Content Dec. 13, 2020 By Reuters , Wire Service Content Dec. 13, 2020, at 9:29 p.m. By mid-August, TCF … 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 merger of equals in which legacy TCF Financial Corporation merged into Chemical Financial Corporation was closed on Aug. 1, 2019, forming Michigan’s largest national bank holding company. 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. Chemical Bank completed its "merger of equals" with TCF Bank on ... TCF and Chemical banks won't be merged until mid-2020, Shafer said. “We will be a top regional bank, with the scale to compete and the passion to serve. Huntington expects the financially compelling transaction to be 18% accretive to earnings per share in 2022, assuming the fully phased-in transaction cost synergies. The company is expected to extend its top quartile financial metrics after completion of the integration. The banks will operate under the Huntington name and will have two headquarters for different operations. It's not clear what will happen to the name. “We look forward to welcoming the TCF Team Members. “We will be a top regional bank, with the scale to compete and the passion to serve. “This merger combines the best of both companies and provides the scale and resources to drive increased long-term shareholder value. Under the merger, Huntington will take over TCF, meaning the Michigan-based bank will lose its name. TCF, with 475 branches, will merge into Huntington, which has 839 branches in seven states. You can unsubscribe to any of the email alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Free copies of this document may be obtained as described in the preceding paragraph. According to the company, they will operate under the Huntington name. 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. Find the latest TCF Financial Corporation (TCF) stock quote, history, news and other vital information to help you with your stock trading and investing. Strategic and Financial Benefits of the Proposed Merger. 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. TCF Bank says it's investigating why some debit cards aren't working. 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. Huntington And TCF Finanical Merger: Building A Powerhouse Bank Dec. 15, 2020 11:21 AM ET Huntington Bancshares Incorporated (HBAN) , TCF 4 Comments 6 Likes ALG Research Huntington is focused on accelerating digital investments to further enhance our award-winning people-first, digitally powered customer experience,” Steinour said. Upon closing, Stephen D. Steinour will remain the chairman, president, and CEO of the holding company and CEO and president of the bank. 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. 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