"Every year Horizon does a branch rationalization analysis to evaluate the changes in markets and our customer’s use of technology and resulted in the consolidation of six branch locations over the last two years, some closures due to overlap from whole bank mergers," said Secor. Even though Horizon closed four branches in 2019 and two in 2020, Secor said branch banking remains important to the company. The coronavirus pandemic and e-commerce has accelerated an industry shift away from branch banking. "We are a community bank and small business lending is a key to our commercial lending success. We also are an ag (agriculture) lender with a dedicated team for agribusiness lending. Our lending is designed to serve the needs of consumers and businesses in the communities and surrounding areas where we are located," Secor said. Secor said Horizon plans to retain all employees at the branches it acquires. "These branches provide a logical extension of Horizon’s low-cost core deposit franchise in Michigan to further enhance already low-cost funding capability to support overall growth. This acquisition adds mass and scale in Midland and provides entry to other attractive markets in the northern and central regions of Michigan’s Lower Peninsula," said Mark Secor, executive vice president and chief financial officer with Horizon Bancorp. Horizon has been in the Michigan market since the early 2000s. Department of Justice's Antitrust Division and the Federal Reserve Board to approve the merger of Huntington and TCF which is expected to close this month. Horizon has 74 branches in Indiana and Michigan. The 14 TCF branches have approximately $976 million in deposits and $278 million in associated loans. The switch to Horizon Bank is expected to happen by the end of the third quarter. Also included in the sale or divestiture are branches in Au Gres, Big Rapids, Cadillac, Corunna, Fremont, Grayling, Houghton Lake, McBain, Midland, Owosso and Standish. Main Street and a branch at 1425 Bridge Street in Charlevoix. The TCF Bank locations being sold to Horizon include the Gaylord branch at 521 W. has agreed to sell 14 Michigan branches to Horizon Bank, a subsidiary of Michigan City, Ind.-based Horizon Bancorp Inc. GAYLORD - A new name is about to enter the Northern Michigan banking market.Īs part of its merger with Ohio's Huntington Bancshares Inc., TCF Financial Corp.
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