Executives of TCF Financial Corp. and Chemical Financial Group met each other at an industry show in 2015. They have watched each other since, said Craig Dahl, CEO of Wayzata-based TCF, which on Monday announced a “merger of equals” with Detroit-based Chemical. TCF officials were impressed at how a similar 2016 merger between Chemical and another Michigan bank, Talmer Bancorp, played out, along with its headquarters move to Detroit. The past few months seemed the right time to talk about pairing the two companies, said Dahl, who will become CEO of the merged entity. For one, the two banks have complementary strengths and geographic footprints. TCF brings strength in fees from its leasing and equipment finance business, while Chemical brings strength in wealth management and mortgage banking fees.“These unique strengths, we believe, we can leverage across the combined company,” Dahl said in a conference call Monday with analysts. “And although we have not modeled revenue opportunities, we believe we are well positioned to transfer each partner’s strength into each other’s markets to drive incremental revenues.” Chemical’s path is similar to TCF’s in many ways. It was founded in 1917 as a state savings bank in Midland, Mich., providing services to… Read full this story
- 50 jobs at risk following college merger as unions vow to fight compulsory redundancies
- Jyrki Katainen: Europe’s financial growth wizard
- Weston General faces merger with Bristol hospitals
- Barking and Dagenham, Havering and Redbrige’s trial police merger to become permanent
- Barking and Dagenham, Havering and Redbridge’s trial police merger to become permanent
- North Shropshire College merger will secure ‘bright future’
- Can you buy chemical weapons on the dark web?
- Union bosses fear hospital merger could lead to job losses and a drop in patient care
- Trade union UNISON criticises ‘inadequate’ public consultation for planned merger of Ipswich and Colchester hospitals
- US security concerns sink Ant Financial-MoneyGram deal
Road to TCF-Chemical Financial merger began in 2015 have 307 words, post on www.startribune.com at January 29, 2019. This is cached page on VietMaz. If you want remove this page, please contact us.