KEY - Chemical Financial About To Double In Size With An Unexpected Merger Of Equals
I’ve been bullish on Chemical Financial (CHFC) for a little while now, as I liked the prospects for this community banking-oriented financial company to gain deposit share in Michigan and surrounding states as larger banks looked elsewhere for growth. Although I thought M&A was certainly going to be a part of the company’s future, I was surprised to see the merger of equals with TCF Financial (TCF) announced in tandem with fourth quarter earnings.
TCF has never been my favorite bank, but I like this combination, and particularly as there will