This is HUGE news for Detroit, for a few reasons:

1. First, it shows that the "Detroit stigma" is no longer an impediment to financial services companies locating here. The unspoken presumption has always been that Quicken Loans would be located elsewhere, but for Dan Gilbert. False, and now disproven.

2. Follow-along jobs for a bank HQ can be plentiful. Additional attorneys, accountants, title companies, and other service providers to professionals will follow.

3. Detroit wins in a merger? Who knew. I read the story on the Minneapolis Star Tribune, and there is serious teeth-gnashing in the comments.

[[And Lowell, if you didn't know, TCF stood for Twin Cities Federal. Chemical obviously got its name from the relationship with Dow in Midland. Both are better than Talmer, which, to again show how times have changed, was chosen after consultants advised them that having "Michigan" in their name--the original name was First Michigan Bank--would reduce the value of the company.)