Huntington Bancshares Incorporated and TCF Financial Corporation jointly announced that each company's shareholders have approved the proposed merger of TCF into Huntington at their respective special meetings of shareholders.
"Today's shareholder approval is a key milestone in our journey to combine Huntington and TCF," said Stephen D. Steinour, Huntington's chairman, president, and CEO. "I am very pleased Huntington shareholders support this partnership, as it provides a compelling opportunity to accelerate shareholder value creation, while enabling us to help more people and businesses throughout our local communities. I look forward to TCF shareholders becoming Huntington shareholders when the transaction is complete."
"With our shareholders' approval, we are one step closer to bringing together our two purpose-driven organizations to create an even stronger, market-leading regional bank for our customers, communities and colleagues," said Gary Torgow, TCF's executive chairman. "I'm excited about what the future holds for the combined company and for the talented employees from both TCF and Huntington who will take it to the next level."
Completion of the transaction remains subject to regulatory approval and the satisfaction of the other customary closing conditions set forth in the merger agreement. Huntington and TCF currently anticipate completing the transaction late in the second quarter.