Huntington, Key and Fifth Third each completed significant bank acquisitions in recent years: Huntington bought Akron's FirstMerit Bank, Key bought First Niagara Bank of New York and Fifth Third bought MB Financial of Chicago. The most likely acquirer of the bank would be Fifth Third Bancorp of Cincinnati, at a price of $53, Mr. Hanley told clients through his sales force.. Huntington, like most midsize banks, has always been the subject of merger rumors, but speculation dogs the company more than it has before. Operating under the Huntington name, the bank would become a top 10 regional bank in the U.S. Stay connected to Northeast Ohio business news in print and online. Suite 310 Cleveland, OH 44113 Huntington is viewed by some as a potential merger partner, but executives have downplayed merger speculation when asked about it by analysts. United Community Financial Corp., the parent company of Home Savings Bank (whose Youngstown headquarters are pictured), is merging with First Defiance Financial Corp. Citizens M&A report: Concerns with tax policies, desires for growth through acquisition will drive deal activity in 2021, MAI Capital buys Beachwood's HW Financial Advisors, Riverside buys Australian allied health services provider Altius Group, Sponsored Content: PRESIDENT’S LETTER: An optimistic year-end review and 2021 outlook. By Ashley Schafer, Midland Daily News. “This merger combines the best of both companies and provides the scale and resources to drive increased long‐term shareholder value," Steinour said in a statement. Huntington Bancshares Incorporated (Nasdaq: ... whose principal subsidiary is The Huntington National Bank. For one thing, there are simply a greater number of them in the industry. For 40 years, Crain’s Cleveland Business has been the trusted source for business news and information for Northeast Ohio’s top executives and business owners. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. Bank M&A in the Northeast Ohio market is likely to involve smaller banks, particularly more community-oriented institutions near or under $10 billion in assets that are looking for scale, cost efficiencies and fee-generating businesses that could support revenue in what is projected to be a down year for earnings. Because of how long it takes a bank deal to come together, though, a large bank wanting a deal with another large bank may need to be working on that now, or very soon, to get something done by the end of the year. The merger is … However, slumping share prices have created pockets of value among regional U.S. banks, and Bank of America says rumors among hedge fund managers suggest interest in merger … Yet, the S&P 500's banking industry gained 31.5% last year, while the wider S&P 500 as a whole returned 40.6%. Columbus, Ohio-based Huntington will exchange 3.0028 of its shares for each TCF share, equating to a price of $38.83, the bank said in a document published on Monday. The companies did not provide a value for the merger, but Huntington … Regional Bank Published: Dec. 13, 2020 at 9:57 p.m. Send letters to Crain's Cleveland Business, 700 West. Some of the market's super-regionals, such as KeyBank, Fifth Third Bank ($171 billion in assets) and Huntington Bank ($109 billion in assets), are unlikely to pursue bank deals. "Over the course of our entire public life, we've made it very clear that we have the ability and have the desire to grow by acquisition and create value for shareholders," Ficalora told investors. Columbus-based Huntington (NASDAQ: HBAN) announced the … TD Bank - Get Repor, according to several analysts. KeyCorp's stock rose over three percent Thursday on a BB&T, SunTrust Announce Merger To Create Sixth-Largest US Bank, Price Over Earnings Overview: Huntington Bancshares, Earnings Outlook for Huntington Bancshares, Benzinga's Top Upgrades, Downgrades For January 5, 2021, Barron's Picks And Pans: Bank Mergers, Comcast, Dogs of the Dow, Square And More, Privacy Policy / Do Not Sell My Personal Data. Columbus, Ga.-based Synovus Financial, with about $27 billion in assets, is a potential target, according to an activist fund manager who focuses on financial firms.The bank, which has a … Huntington, with $120 billion in assets, outsizes TCF, which has assets of around $50 billion. Detroit-based TCF Financial Corp. will merge into Huntington Bancshares Inc. in a $22 billion all-stock merger that creates one of the largest regional banks … Billion dollar deal: TCF to merge with Huntington Bank Will have dual headquarters in Detroit and Columbus, Ohio. He also noted he is projecting flat to slightly negative earnings growth in 2020, underscoring a concern that could fuel some M&A. The TCF brand will be changed to Huntington, and Detroit's TCF Center "So there is going to be a transaction on the horizon that will be exactly in line with the kinds of things that we've done in the past. 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Meanwhile, the market dynamics driving regional bank M&A remain very much in place, as analysts and investors point to a tough operating environment and the imperative to invest in technology as key drivers of regional bank consolidation. ATM fee: No fee for Huntington Bank ATMs, $3 fee per non-Huntington Bank ATM transaction, plus applicable fees from out-of-network ATM as applicable. TCF Bank announced Sunday evening that it had been acquired by Columbus, Ohio-based Huntington Bank and that the combined entity would have ‘dual headquarters’ in Detroit and Columbus, marking a big moment in the career of TCF Bank chair and prominent Jewish Detroit philanthropist Gary Torgow. A daily collection of all things fintech, interesting developments and market updates. What We Do Huntington is a full-service banking provider primarily operating across a seven-state banking franchise of Ohio, Illinois, Indiana, Kentucky, Michigan, Pennsylvania, and … Regional Bank Article Stock Quotes (2) FREE Breaking News Alerts from StreetInsider.com! The merger would reportedly also propel Huntington close to its rivals Fifth Third Bancorp (NASDAQ: FITB) and KeyCorp (NYSE: KEY), which have about $200 billion and $170 billion in assets, respectively. The bank got its footing in Ohio with the purchase of the failing AmTrust Bank in 2009. The combined company will have headquarters in both Detroit and Columbus. The Huntington National Bank is an Equal Housing Lender and Member FDIC. Huntington And TCF Finanical Merger: Building A Powerhouse Bank Dec. 15, 2020 11:21 AM ET Huntington Bancshares Incorporated (HBAN) , TCF 4 Comments 6 Likes ALG Research In October, First Citizens BancShares Inc (NASDAQ: FCNCA) and CIT Group Inc (NYSE: CIT) had announced a merger. ET "Our capital allocation priorities are organic balance sheet growth, fee-generating nonbank acquisitions, paying a strong dividend and share repurchases," said Fifth Third Bank CEO Greg Carmichael in a Jan. 22 earnings call. ... 2020 1:13 PM EST. Price Action: Huntington shares closed nearly 0.8% lower at $12.93 on Friday and fell 0.23% in the after-hours session. The Wall Street Journal had reported on the advanced merger discussions earlier on Sunday. 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