The Firm is representing TCF Financial Corporation (NASDAQ: TCF) in connection with its agreement to merge with Huntington Bancshares Incorporated (NASDAQ: HBAN) in an all-stock merger with a total market value of approximately $22 billion to create a top 10 U.S. regional bank with dual headquarters in Detroit, Michigan and Columbus, Ohio. The combined holding company and bank will operate under the Huntington name and brand following the closing of the transaction.
TCF is a Detroit, Michigan-based financial holding company with $48 billion in total assets at September 30, 2020 and a top 10 deposit market share in the Midwest. TCF’s primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. TCF has approximately 475 branches primarily located in Michigan, Illinois and Minnesota with additional locations in Colorado, Ohio, South Dakota and Wisconsin. TCF also conducts business across all 50 states and Canada through its specialty lending and leasing businesses.
The Simpson Thacher team includes Lee Meyerson, Sebastian Tiller, Yui Hirohashi, Chia-Chen Lee and Richard Zhang (M&A); Adam Cohen and Spencer Sloan (Bank Regulatory); and David Rubinsky, Alisa Tschorke and Allison Sweeney (Executive Compensation and Employee Benefits).