I guess it is now official - TFC Bank to be Headquartered in Detroit

**Detroit Stylin** · June-17-19, 08:17 PM

Welcome to the D TCF Bank

Chemical Financial Corporation [[Chemical) [[CHFC) and TCF Financial Corporation [[TCF) [[TCF) today jointly announced that at separate special meetings held today, each company’s shareholders approved the proposed merger of equals in which TCF will merge into Chemical. The combined holding company and bank will be headquartered in Detroit, Michigan and operate under the TCF name and brand following the closing of the transaction.

https://finance.yahoo.com/news/chemical-financial-corporation-tcf-financial-190000011.html

**Worldsgreatest** · June-17-19, 11:19 PM

Still needs federal approval which seems imminent since much larger bank mergers are going on right now.

**Scottathew** · June-18-19, 06:26 AM

I haven't seen a lot\any of movement on the HQ.

**313WX** · June-18-19, 08:29 AM

Originally Posted by 48307

I haven't seen a lot\any of movement on the HQ.

They're probably waiting until all the Ts are crossed and Is are dotted with the merger.

**Zacha341** · June-18-19, 09:30 AM

Hah, I still think of TCF as the 'grocery store bank'. Their brand just seemed low rent to me....

**Gistok** · June-18-19, 10:00 AM

Before they can do anything towards their new HQ on Woodward and Elizabeth, they have to destroy the Michigan Mutual Annex.

https://www.emporis.com/buildings/19...detroit-mi-usa

Although not a pretty building, it's too bad that some parking/office space has to be sacrificed, while Ilitch sits on acres and acres.

I don't mind them building in that spot along Woodward, although it will be a tight fit, and ruin the views of many of the Fyfe Building residents.

A new HQ on the Tuller site would have been super.... although again... it would have required the Ilitch's to get off their asses and do something with the United Artists Building complex sharing the same block. All they've been able to do so far is scare off the potential developers...

**DetroitGuy423** · June-18-19, 10:24 AM

Originally Posted by 48307

I haven't seen a lot\any of movement on the HQ.

I work at Grand Park Centre and parked in the garage that's in the Michigan Mutual Building. We had to be out of the garage by May 31st, so they could start prepping it for demo.

**Scottathew** · June-18-19, 10:51 AM

Originally Posted by DetroitGuy423

I work at Grand Park Centre and parked in the garage that's in the Michigan Mutual Building. We had to be out of the garage by May 31st, so they could start prepping it for demo.

Thanks for the inside scoop! That's good to hear!

**rb336** · June-18-19, 11:13 AM

"let's go with an utterly meaningless, generic name [[what does TCF stand for anyway - "total cluster f*?) instead of one that recalls a vast history and has global recognition - even if it WAS a different company." Yeah, that sounds like the smart move.

**drjeff** · June-18-19, 11:20 AM

Originally Posted by rb336

"let's go with an utterly meaningless, generic name [[what does TCF stand for anyway - "total cluster f*?) instead of one that recalls a vast history and has global recognition - even if it WAS a different company." Yeah, that sounds like the smart move.

TCF stands for Twin Cities Financial, since it originated in Minnesota. It's certainly not the worst bank name out there.

**Zacha341** · June-18-19, 11:25 AM

^^^ Hah! Then the mystery of the ages remains: What does CVS stand for?!

**mwilbert** · June-18-19, 12:07 PM

Originally Posted by Zacha341

^^^ Hah! Then the mystery of the ages remains: What does CVS stand for?!

Consumer Value Stores. [[I remembered that, but it's in wikipedia if you want to look)

**313WX** · June-18-19, 12:23 PM

Originally Posted by drjeff

TCF stands for Twin Cities Financial, since it originated in Minnesota. It's certainly not the worst bank name out there.

Indeed.

It certainly beats *TRUIST*

https://www.cnbc.com/2019/06/13/trui...customers.html

**Worldsgreatest** · June-18-19, 12:23 PM

TCF has more name recognition with consumers, probably why they took that name.

**K-slice** · June-18-19, 06:00 PM

Originally Posted by Worldsgreatest

TCF has more name recognition with consumers, probably why they took that name.

Even if few know the name is an acronym, it's curious they're keeping the "Twin Cities" moniker in favor of Chemical or something new all together. It would be like Bank One had taken on the NBD name even though their HQ was in Chicago.

**Worldsgreatest** · June-18-19, 06:16 PM

Banks and companies do this all the time.

The Hong Kong and Shanghai Banking Corporation is headquartered in London.

**detlump** · June-18-19, 06:42 PM

I think the reason that Chemical Bank wasn't the successor name is that there already was a Chemical Bank [[not the Michigan-based one) founded in New York in 1824 [[now part of JP Morgan Chase):

https://en.wikipedia.org/wiki/Chemical_Bank

I still get a laugh out of TD Bank [[Toronto Dominion) operating in the US - I doubt many people know it's a Canadian Bank. Can't wait for BMO or CIBC to move in!

**ABetterDetroit** · June-18-19, 07:46 PM

TCF sure is a big improvement over Chemical.

It is worth noting that TCF is making a large effort to get mortgage loans approved in Detroit using the federal guidelines.

TCF is a true player in rebuilding the economy in the city and is setting out to make a difference and grow their business from their investment. Their business plan is great for Detroit’s present and future.

**401don** · June-19-19, 07:27 AM

Originally Posted by detlump

I still get a laugh out of TD Bank [[Toronto Dominion) operating in the US - I doubt many people know it's a Canadian Bank. Can't wait for BMO or CIBC to move in!

Do you mean in Michigan? All the major Canadian banks are in the U.S. BMO has 600 branches and 15,000 employees. CIBC bought PrivateBankCorp and its HQ is in Chicago. Royal Bank [[RBC) operates throughout the U.S. The Canadian banks all started using these acronyms about 10-15 yrs. ago. as well.

**bartocktoo** · June-19-19, 09:05 AM

Originally Posted by detlump

I think the reason that Chemical Bank wasn't the successor name is that there already was a Chemical Bank [[not the Michigan-based one) founded in New York in 1824 [[now part of JP Morgan Chase):

https://en.wikipedia.org/wiki/Chemical_Bank

I still get a laugh out of TD Bank [[Toronto Dominion) operating in the US - I doubt many people know it's a Canadian Bank. Can't wait for BMO or CIBC to move in!

I don't think that is the reason that Chemical Bank is not the successor name. It's just not a good name. I wouldn't want to get a mortgage from a place called Bacteria Financial, etc.

**313WX** · June-19-19, 05:55 PM

Originally Posted by bartocktoo

I don't think that is the reason that Chemical Bank is not the successor name. It's just not a good name. I wouldn't want to get a mortgage from a place called Bacteria Financial, etc.

The name served a purpose at one point in time [[catering to Dow Chemical employees in small-town Midland).

But now, with it moving to Detroit and scaling upward, it doesn't work so much now.

**archfan** · June-20-19, 01:55 AM

Originally Posted by 313WX

The name served a purpose at one point in time [[catering to Dow Chemical employees in small-town Midland).

But now, with it moving to Detroit and scaling upward, it doesn't work so much now.

Inside the bank, they know it now means Tri-cities Chemical Financial.

**Honky Tonk** · June-20-19, 03:38 AM

Originally Posted by archfan

Inside the bank, they know it now means Tri-cities Chemical Financial.

Sounds like they float loans for Mescaline dealers. They could be the best bank on the planet but the name is a turn off. If they dropped the "Chemical", they'd probably do well in the tri-cities area.

**rb336** · June-20-19, 11:47 AM

Originally Posted by 313WX

But now, with it moving to Detroit and scaling upward, it doesn't work so much now.

Here's the thing - the name - even if it was a different company - still carries the weight of what was once one of banking's "big 5." That is global [[borrowed) cache, but cache none the less.

**archfan** · June-21-19, 02:05 AM

Originally Posted by rb336

Here's the thing - the name - even if it was a different company - still carries the weight of what was once one of banking's "big 5." That is global [[borrowed) cache, but cache none the less.

They might run into difficulties using Chemical Bank nationally, if Chase still maintains the Chemical Bank [[of New York) trademark.