A big business deal involving Huntington and TCF Banks is making headlines after the companies announced Sunday evening they are merging as part of a $22-billion deal.
The banks will operate under the Huntington name and the merger will have Detroit serving as the headquarters for the commercial-portion of the bank, while Columbus, Ohio will remain the headquarters for the holding company and the Consumer Bank.
The Detroit office, which is under construction now downtown, will have at least 800 employees. The merger will make Huntington a top ten regional bank.
The merger is expected to be finalized in the second quarter of next year, and while plans involve operational savings, it does not include any job cuts, experts said.
So, what happens to the TCF Center, the state's largest convention center and home of the landmark auto show? Many are still struggling not to call it the Cobo Center, its original name. Get prepared to remember a new name: After the merger, "it will become the Huntington Center," experts said Sunday.
Related
And how about the TCF Center, the 20-story headquarters for TCF under construction on Woodward Avenue?
Huntington has plans to occupy the full building now and may have up to 1,100 employees there, officials said Sunday. But don't call it the TCF Center anymore. When it opens in 16 months, it will be known as The Huntington Tower.