Chemical Bank is announcing a merger with Minnesota’s TCF Financial to create one of the largest banks in the Midwest. According to Chemical, the merger includes $45 billion in assets and more than 500 branches across nine states. Chemical Bank purchased Talmer Bank and Trust in 2016, which was the successor to Port Huron-based Citizens First before it’s insolvency in 2010. Chemical Bank says TCF will merge into Chemical, with the combined holding company operating under the name TCF Bank. The deal is expected to close in the fourth quarter of this year.
