The banking landscape in the South Haven area will see some changes next month.
When Huntington Bancshares Inc. assumes ownership of South Haven TCF banks in mid-October, it will close its Meijer store branch along with the TCF “suburban” office at the corner of M-43 Highway and Blue Star Highway. That will leave the large, two-story main office at the corner of Center and Phoenix streets open for Huntington customers.
“In October, Huntington will be consolidating two branches in South Haven that are duplicative in the market,” said Emily Smith, a corporate, regional and community banking spokesperson for Huntington National Bank. “This includes the South Haven-Suburban branch located at 73881 M-43 and the South Haven Meijer branch located at 1223 Phoenix St. The South Haven downtown branch, located at 433 Phoenix St., is nearby and will remain open and will provide full service for customers.”
It is unknown how many employees will be displaced due to the two closures. Smith could not be reached for further comment regarding the status of existing employees at the three Huntington-TCF banks.
With the acquisition of TCF, Huntington’s decision to close bank offices in towns served by both banks isn’t unusual.
In June, as a result of its $22 billion acquisition of TCF Financial, Huntington Bank announced plans to close 198 branches, including all 97 locations in Meijer grocery stores, according to a report by Crain’s Detroit Business.
In addition to branch closures in Michigan, others are expected to occur in Ohio and Illinois.
“All of the consolidated locations have other branches nearby, so customers will still be able to conduct their bank business close to where they did previously,” Randi Berris, senior vice president and director of external communications at Huntington National Bank, said in July to The Herald-Palladium.
TCF’s merger with Huntington comes less than two years after TCF acquired Chemical Bank, which had offices in downtown South Haven and M-43 Highway. The merger with Huntington is expected to create one of the top 10 regional banks in the United States.
The combined company will have about $168 billion in assets, $117 billion in loans, and $134 billion in deposits.
Some TCF-Huntington customers in South Haven aren’t happy about the pending closure of two branch offices.
“It has been a great benefit for those of us to have a branch of the bank on the outskirts of town where there is ample parking and great service,” South Haven resident Pam Chappell stated in a letter she wrote to Huntington Bank officials. “Although we do some of our banking online, there are certain things that require us to show up in person. We don’t want to fight the crowds downtown in the summertime, even for the drive-thru.”