Chemical and TCF completed a $3.6bn merger.

Chemical Financial, a banking company, and TCF Financial, a financial holding company, completed a $3.6bn merger. The merger of Legacy TCF and Chemical creates a premier Midwest bank, with the scale to deliver best-in-class products and services, banking experiences that help customers achieve their financial goals and the ability to invest in leading-edge digital banking solutions that make banking more convenient. Customers of new TCF will benefit from the bank’s strong community banking and wealth management capabilities, large deposit franchise and expertise in wholesale lending on a national basis. “The combination of TCF and Chemical delivers double-digit EPS accretion for each set of shareholders, significant cost synergies, top-tier return metrics, a more diversified balance sheet and a lower risk profile. We also share a deep commitment to supporting and giving back to the communities we serve,” Gary Torgow, Chemical’s Chairman.