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Huntington shuttering dozens of in-store branches in Michigan

Rick King, managing director of Thomson Reuters, to retire Feb 1 - Minneapolis / St Paul Business Journal

Rick King, managing director of Thomson Reuters, to retire Feb 1 - Minneapolis / St Paul Business Journal
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.

Chicago bank merger activity to heat up in 2021

Email Address One long-standing player in this market just got the M&A juices flowing. TCF Financial, based for years in suburban Minneapolis and more recently in Detroit following yet another combination, has a $6 billion deal to sell to Columbus, Ohio-based Huntington Bancshares. When the transaction closes in the second half of 2021, Huntington will have expanded from a modest presence here to the kind of relevance enjoyed by PNC and U.S. Bank. Huntington will move from the 17th-largest bank by deposits in the six-county Chicago area to the 12th-largest. PNC is eighth, and U.S. Bank is 10th, as measured by the Federal Deposit Insurance Corp. s most recent annual market share survey.

Huntington Bancshares Downgraded to Equalweight by Stephens

Huntington Bancshares Downgraded to Equalweight by Stephens Stephens expects Huntington Bancshares to be more of a peer performer in the first half of 2021. Author: Huntington Bancshares  ( HBAN) - Get Report was downgraded to equalweight from overweight Thursday by a Stephens analyst who also raised his price target on shares of the financial services company to $14 from $12. Shares of the Columbus, Ohio-based Huntington were falling 2.67% to $12.04. In a note to investors, Stephens analyst Terry McEvoy discussed Huntington s announcement Monday that it would buy TCF Financial  ( TCF) - Get Report in an all-stock deal valued at almost $6 billion. While McEvoy said he sees the TCF acquisition as positive from a strategic perspective and believes Huntington is positioned to generate some of the best industry profitability metrics once cost savings are fully realized, this won t be until late 2021 and 2022.

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