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 1...
Source: chicagobusiness.com