Another regional bank seeks to extend its footprint, merging with a Detroit-based bank.

On Dec. 13, Huntington Bancshares Inc. announced its merger with TCF Financial Corp., creating a regional bank with headquarters in both Columbus and Detroit.

TCF, parent company of TCF National Bank, will merge into Huntington National Bank under a $22 billion, all-stock deal. TCF will adopt the Huntington name and brand upon the closing of the deal, which was unanimously approved by both companies' boards of directors.

Huntington is the fifth-largest bank in Butler County, posting a 6.16% market share on June 30, according to the Federal Deposit Insurance Corp. Huntington noted that it will have a top-5 market share in 70% of its deposit markets across Denver, Illinois, Indiana, Michigan, Minnesota, Ohio, Pittsburgh, Wisconsin and West Virginia.

Across Western Pennsylvania, Huntington has a lower market share than in Butler, posting the ninth-highest rank with a 1.9% share in the Pittsburgh Metropolitan Statistical Area, according to FDIC data.

“This merger combines the best of both companies and provides the scale and resources to drive increased long-term shareholder value,” said Huntington CEO Stephen D. Steinour. “Huntington is focused on accelerating digital investments to further enhance our award winning people-first, digitally powered customer experience.”

Steinour will remain chairman, president and CEO of Huntington Bancshares as well as president and CEO of the bank.

Gary Torgow, chairman of TCF Financial Corp., will assume the same role on the bank's board of directors.

David L. Porteous, another TCF director, will serve as lead director of both the Huntington Bancshares and the bank's boards.

Huntington's consumer bank and holding company will remain headquartered in Columbus, while it will move its commercial headquarters to TCF's current location in Detroit. According to the company, at least 800 employees will occupy a downtown structure.

The bank expects the combined company to hold $168 billion in assets, $117 billion in loans and $134 billion in deposits.

The deal is expected to close by the end of second quarter 2021, subject to regulatory and shareholder approval.