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Huntington, TCF Announce Receipt Of All Required Regulatory Approvals For Pending Merger
Announce buyer in pending divestiture of 14 TCF branches
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COLUMBUS, Ohio and DETROIT, May 25, 2021 /PRNewswire/ Huntington Bancshares Incorporated (Nasdaq: HBAN; Huntington ) and TCF Financial Corporation (Nasdaq: TCF; TCF ) jointly announced that the Board of Governors of the Federal Reserve System (the Federal Reserve Board ) and the Office of the Comptroller of the Currency, with input from the United States Department of Justice s Antitrust Division (the DOJ ), have approved the proposed merger of Huntington and TCF and of The Huntington National Bank and TCF National Bank.
Huntington, TCF Announce Receipt Of All Required Regulatory Approvals For Pending Merger prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
2021 First-Quarter Highlights (compared with 2020 First Quarter):
Net income was $532 million, up $484 million from the year ago quarter.
Earnings per common share (EPS) for the quarter were $0.48, an increase of $0.45.
Return on average assets for the quarter was 1.76%, return on average common equity was 18.7%, and return on average tangible common equity was 23.7%.
Tangible book value per common share increased $0.36, or 4%, to $8.64.
Fully-taxable equivalent total revenue increased $216 million, or 19%.
Fully-taxable equivalent net interest income increased $182 million, or 23%, including the benefit of the $144 million mark-to-market of interest rate caps and $45 million of accelerated accretion from PPP loan forgiveness.
Net interest margin increased 34 basis points to 3.48%, including the 51 basis point benefit of the mark-to-market of interest rate caps and the 16 basis point benefit from accelerated accretion from PPP loan forgiveness.
/PRNewswire/ Huntington Bancshares Incorporated (Nasdaq: HBAN) (www.huntington.com) expects to report its 2021 first quarter earnings on Thursday, April 22,.