TCF - Did TCF Financial's Chemical Merger Spark a Positive Reaction for Investors?
Last year, TCF Financial (NYSE: TCF), which owns the TCF National Bank, merged with Chemical Financial to form a new entity that is a top 10 bank in the midwestern U.S., with $47 billion in assets under management and $35 billion in deposits.
It's among a spate of bank mergers that occurred in 2019 and part of a trend that is expected to continue this year as a slowing economy and lower interest rates, among other issues, spur industry consolidation.
Whenever a company is involved in a major merger or acquisition, investors should examine what the combined entity looks like. What are the advantages and challenges, and is it a good investment?