Chemical Bank Buys TCF Bank In $3.6 Billion All-Stock Deal

Chemical Bank Acquires TCF Bank In $3.6 Billion All-Stock Deal. Deal Creates $45 Billion Power House

The parent company of Chemical Bank has announced that has acquired TCF Bank for $3.6 billion. The combined company will operate under the TCF Bank brand name and will make TCF the largest bank in the midwest.
The all-stock deal will make the new TCF Bank the 27th-largest in the country with $45 billion in assets. The new TCF Bank will more than 500 bank branches and nearly 10,000 employees. 
The combined companies will be based in Detroit. However, it will maintain a significant operating presence in Minneapolis as well as Midland and Chicago. TCF Bank is based in Wayzata, Minn., a western suburb of Minneapolis.
TCF Financial CEO and Chairman Craig Dahl said in a statement:

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