Huntington Bancshares Incorporated has closed its merger with TCF Financial Corporation, creating a Top 25 U.S. bank holding company.
The combination positions Huntington for enhanced profitability and scale, revenue growth opportunities, significant cost synergies, and a strengthened market position, all driving increased long-term shareholder value.
“We are pleased to announce the completion of this combination with TCF and look forward to welcoming our new colleagues and customers to Huntington. We also look forward to strengthening our community impact through the combined bank,” said Stephen D. Steinour, chairman, president and CEO of Huntington. “This is a significant step forward for Huntington in our vision to build the leading People-First, Digitally Powered bank in the nation.”
The combined company has approximately $175 billion in assets, $142 billion in deposits, and $116 billion in loans based on March 31, 2021, balances. Huntington now operates more than 1,100 total branches. The combination also marks Huntington’s entrance into attractive markets in Minnesota and Colorado, as well as new businesses, including inventory finance lending. The headquarters for the Commercial Bank is in Detroit; Columbus remains the headquarters for the holding company and the Consumer Bank.