Displaying items by tag: Huntington Bancshares Inc
Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.
Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.
The new year could bring a continued acceleration of M&A in the banking industry.
The $22 billion merger with TCF Financial Corp. brought new leadership for Huntington Bancshares Inc. in West Michigan that’s focused on retaining talent and customers while executing a massive corporate pledge to small businesses and underserved markets.
Buying 14 offices in the central and northern Lower Peninsula from TCF Bank provides a broader stage for Horizon Bancorp Inc.’s further expansion in Michigan.
While Huntington Bancshares Inc. and TCF Financial Corp. executives say a planned merger between the two companies will create a Midwest banking powerhouse, some experts view it as an opportunity for competitors to gain both business and talent.
Huntington Bancshares Inc. intends to close 198 branch offices — about half of which are based in Meijer Inc. stores in Michigan — after completing the proposed $22 billion acquisition of Detroit-based TCF Financial Corp.
The $15 million Sturgis Bancorp Inc. raised through a debt offering will go to support further growth across Southwestern Michigan.
This is the MiBiz growth report for September 13, 2020.
Huntington Bancshares Inc. has pledged to lend and invest $5 billion in Michigan over five years to support financial opportunities for businesses, consumers and community organizations.
Pi Optima Manufacturing Inc., a Zeeland-based machine shop that supplies the aerospace and automotive industries, is under new ownership.
Huntington Bancshares Inc. will layoff 129 workers in Holland to improve operational efficiencies following its acquisition of FirstMerit Corp. in 2016.
Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.
Two large bank mergers affecting the Michigan market are progressing, with one securing shareholder approval and another awaiting a vote in the coming weeks.
FirstMerit Bank branches in Grand Haven, Muskegon and Portage will close following the proposed $3.4 billion merger into Huntington Bancshares Inc.
A pair of deals would give Chemical Financial Corp. and Huntington Bancshares Inc. larger footprints in Michigan and could renew the momentum for bank M&A in the state.
Chemical Financial to acquire Talmer Bancorp in $1.1 billion deal; Huntington Bank to buy FirstMerit for $3.4 billion
Chemical Financial Corp. plans to acquire Talmer Bancorp Inc. in a $1.1 billion deal that will create one of the largest banks in the Midwest.