US-based Huntington Bancshares has completed the acquisition of TCF Financial Corporation in an all-stock deal valuing TCF at $6bn.

Huntington Bancshares inked a definitive agreement to acquire TCF Financial in December 2020.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Huntington Bancshares is the parent company of The Huntington National Bank, while TCF Financial is the parent company of TCF National Bank.

The merged entity has approximately $175bn in assets, $142bn in deposits, and $116bn in loans based on 31 March 2021 balances.

The deal positions Huntington for improved profitability and scale, revenue growth opportunities, significant cost synergies, and a strengthened market position.

Huntington president and CEO Stephen D. Steinour said: “We are pleased to announce the completion of this combination with TCF and look forward to welcoming our new colleagues and customers to Huntington.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We also look forward to strengthening our community impact through the combined bank. This is a significant step forward for Huntington in our vision to build the leading People-First, Digitally Powered bank in the nation.”

Huntington operates 839 branches in seven US states and with TCF’s 475 branches, it will expand into Minnesota, Colorado, Wisconsin, and South Dakota, and strengthen its presence in Chicago.

The merger also gives Huntington with new businesses, including inventory finance lending.

It will have two headquarters – a commercial banking base in Detroit, Michigan, which will house 800 employees – and a retail bank in Columbus, Ohio.