M&A Deal Summary

Huntington Bancshares Acquires TCF

On December 13, 2020, Huntington Bancshares acquired financial services company TCF for 6.0B USD

Acquisition Highlights
  • This is Huntington Bancshares’ 7th transaction in the Financial Services sector.
  • This is Huntington Bancshares’ largest (disclosed) transaction.
  • This is Huntington Bancshares’ 6th transaction in the United States.
  • This is Huntington Bancshares’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2020-12-13
Target TCF
Sector Financial Services
Buyer(s) Huntington Bancshares
Deal Type Merger
Deal Value 6.0B USD
Advisor(s) Keefe, Bruyette, & Woods, Inc. (Financial)
Simpson Thacher & Bartlett (Legal)

Target

TCF

Detroit, Minnesota, United States
TCF Financial Corp. is a national bank holding company. TCF has 400+ branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona, and South Dakota, providing retail and commercial banking services. TCF Financial was founded in 1923 and is based in Detroit, Michigan.

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Buyer(S) 1

Buyer

Huntington Bancshares

Columbus, Ohio, United States
Category Company
Founded 1866
Sector Financial Services
Employees19,719
Revenue 7.4B USD (2023)
DESCRIPTION

Huntington Bancshares is a regional bank holding company that provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. Huntington Bancshares was founded in 1866 and is based in Columbus, Ohio.

DEAL STATS #
Overall 7 of 7
Sector (Financial Services) 7 of 7
Type (Merger) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 6 of 6
Year (2020) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Huntington Bancshares - Wisconsin branch banking operations

Wisconsin, Antigua and Barbuda

Huntington Bancshares - Wisconsin branch banking operations comprise approximately $850 million in deposits, $134 million in loans, and 32 branch locations.

Sell -
Mergr

Product

Company

Legal