Displaying items by tag: Chemical Financial Corp
Bank M&A may ease in 2020, as fewer executives surveyed by the trade publication Bank Director view the market as favorable for deals.
As one bank merger affecting the West Michigan marketplace focuses on integration, another much smaller deal heads toward shareholder votes next month.
The proposed $3.6 billion merger between Chemical Financial Corp. and TCF Financial Corp. would create a Midwest bank based in Michigan that’s able to compete with the largest national banks and that’s likely to pursue further acquisitions. Under the $3.6 billion all-stock deal, the Wayzata, Minn.-based TCF Financial (NYSE: TCF) would merge into the Detroit-based Chemical Financial (Nasdaq: CHFC). Once the deal closes, Chemical Bank locations would take on the TCF name.
Chemical Financial Corp. today relocated its corporate headquarters to Detroit.
Seeking to drive growth and reach further into middle market companies across the Midwest, Chemical Bank has steadily added to its roster of commercial bankers since last summer and developed lending specialties.
Chemical Financial Corp. has completed a restructuring that was designed to drive $20 million in annualized cost savings and put more focus on commercial lending.
John Donnelly considers Independent Bank Corp.’s proposed $63.1 million deal to buy Traverse City-based TCSB Bancorp Inc. as indicative of the bank mergers likely to occur in Michigan next year.
The active mergers and acquisitions market shows no signs of slowing down for the foreseeable future.
In his 28 years in practice, attorney Jeff Ott has worked on almost 70 transactions, nearly a dozen of which involved Chemical Financial Corp.’s acquisitions of other banks.
Nearing $10 billion in assets after a series of smaller community bank acquisitions, Chemical Financial Corp. last year needed to pursue a deal larger than any it had contemplated before.
Chemical Financial Corp. plans to close and consolidate 25 more branches by the end of the year and trim its workforce 7 percent in a cost-cutting initiative that will generate $20 million in annualized savings.
David Ramaker plans to retire in the third quarter as president and CEO of Chemical Financial Corp.
GRAND RAPIDS — By forming a consulting and advisory practice, a public relations and investor relations firm looks to deepen its ties with clients seeking outside advice for their businesses.
More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.
GRANDVILLE — Grand River Bank’s parent company has raised $14.4 million in new investor capital to support the firm’s continued growth, MiBiz has learned.
Chemical Financial Corp. doubled earnings for the first quarter, the second full three-month period for the company following its $1.7 billion acquisition of Talmer Bancorp Inc. last summer.
MIDLAND — For the third time in two years, Chemical Financial Corp. wants to have more shares on hand to as it pursues additional acquisitions.
Chemical Financial Corp. posted significantly higher earnings for the final three months of 2016, driven by the $1.7 billion acquisition of Talmer Bancorp Inc. that closed in late summer.
Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.
GRAND RAPIDS — The largest bank headquartered in Michigan wants to increase its profile in downtown Grand Rapids in the years ahead.
Expenses tied to the acquisition this summer of Talmer Bank & Trust lowered Chemical Financial Corp.’s net income for the third quarter, which otherwise reported stronger results.
GRAND RAPIDS — A strong marketplace combined with recent consolidation involving community banks lured Level One Bank from its base in suburban Detroit to the Grand Rapids market.
MIDLAND — As Chemical Financial Corp. moves toward closing its latest and largest acquisition, David Ramaker remains open to additional deals that would further expand the bank’s footprint in the Midwest.
Chemical Financial Corp.’s $1.4 billion acquisition of Talmer Bancorp Inc. heads to a close this fall after securing approval from federal regulators.
The $1.4 billion merger between Chemical Financial Corp. and Talmer Bancorp Inc. heads to probable close later this year after securing shareholder approvals from both companies.
Banks feel the talent gap: Hiring curbed by gutted training programs, lack of interest among younger generations
Bankers say they hear it regularly from their clients: It’s gotten awfully hard to find good talent these days.
Stock prices of West Michigan’s publicly traded companies tumbled on Friday as Wall Street succumbed to the uncertainty caused by the U.K.’s decision to exit the European Union.
Prior to cutting the $1.1 billion deal that would make Chemical Financial Corp. the largest bank based in Michigan, Talmer Bancorp Inc. talked with several other potential partners about a merger or acquisition.