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Portfolio Exits

1

Partners & Customers

4

Service Providers

1

About Chemical Financial Corporation

Chemical Financial Corporation is the largest banking company headquartered and operating branch offices in Michigan. Chemical operates through its subsidiary bank, Chemical Bank, with 212 banking offices located primarily in Michigan, northeast Ohio and northern Indiana.

Chemical Financial Corporation Headquarter Location

333 W Fort St.

Detroit, Michigan, 48209,

United States

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Latest Chemical Financial Corporation News

Rollover of TCF customers to Huntington Bank hits some glitches

Oct 13, 2021

Rollover of TCF customers to Huntington Bank hits some glitches TCF customers report that debit card purchases were being denied in the switch to Huntington's systems. And some said they couldn't access online banking. October 13, 2021 — 4:39pm The rollover of TCF Bank customers to Huntington Bank left some people without access to their debit cards and online banking this week. The change began last Friday and was signaled well in advance by Huntington. But in the days since, customers have jammed the bank's help center and website with complaints about lost access to key banking services. "I'm sure they tried hard to do this well, but they've simply failed," Jeremy Bond, a TCF customer in Mount Pleasant, Mich., said Wednesday. He was repeatedly denied access while trying to set up online accounts with Huntington. Ohio-based Huntington closed on its merger with TCF Financial, one of Minnesota's largest banks, earlier this summer. A rebranding is being completed this month, most visible in sign changes at branches and at the University of Minnesota's football stadium, where TCF had naming rights. For weeks, Huntington told customers to expect their accounts and online services to migrate in early October. Consumer customers received welcome kits that walk through how to access their accounts step-by-step, said Randi Berris, Huntington's director of external communications, in an e-mail response to questions from the Star Tribune. "We understand that this can be difficult for some to navigate and that's why we're seeing the increased call volume," she said. "We are working through those calls as quickly and efficiently as we can." Bond said he was told by Huntington customer service representatives that high transaction volume was the reason he couldn't access his accounts. The bank advised him to try again at odd hours when online traffic volume would decrease, he said. But he still wasn't able to access his accounts after repeated attempts Tuesday night and early Wednesday. By contrast, Bond said he encountered few troubles when Michigan-based Chemical Bank and Minnesota-based TCF united their customers accounts after a 2019 merger. "I feel like the transition I went through from Chemical Bank to TCF was seamless compared to this nightmare," he said. Greg Ott of La Quinta, Calif., tried to view his home equity loan that been acquired by TCF and is now with Huntington this week. But he has been unable to log in and spent hours on the phone waiting for help. He was told to visit a Huntington branch, but there aren't any in his area. "They don't have a process to handle national customers," he said. Besides online access issues, some customers who were told they could still use their TCF cards this past weekend found that their cards were declined. The Huntington spokeswoman said the debit card issue that affected a small subset of TCF customers on Friday night and Saturday morning was resolved Saturday afternoon. "We sincerely apologize to our customers for the inconvenience," she said. Matthew Koscielski of Bertha, Minn., said Wednesday that while he is now able to use his debit card for credit purchases, he still can't use it for debit transactions that some retailers require. He learned of the problem Friday night after work when his card was declined at a gas station and a Burger King, and then saw social media posts from people experiencing similar issues. He wishes the company acknowledged the problem sooner. "They seem to not really have it all together," he said. Gita Sitaramiah is the Star Tribune consumer reporter.

Chemical Financial Corporation Portfolio Exits

1 Portfolio Exit

Chemical Financial Corporation has 1 portfolio exit. Their latest portfolio exit was TCF Financial on December 14, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/14/2020

Merger - II

$99M

7

Date

12/14/2020

Exit

Merger - II

Companies

Valuation

$99M

Acquirer

Sources

7

Chemical Financial Corporation Acquisitions

3 Acquisitions

Chemical Financial Corporation acquired 3 companies. Their latest acquisition was TCF Financial on January 28, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/28/2019

$99M

Merger

7

7/14/2016

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$99M

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10

1/7/2015

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$99M

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10

Date

1/28/2019

7/14/2016

1/7/2015

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

Total Funding

Note

Merger

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Sources

7

10

10

Chemical Financial Corporation Partners & Customers

4 Partners and customers

Chemical Financial Corporation has 4 strategic partners and customers. Chemical Financial Corporation recently partnered with First Bankcard on August 8, 2014.

Date

Type

Business Partner

Country

News Snippet

Sources

8/26/2014

Partner

United States

Regional Michigan Bank Launches Dream Card.

In the past couple of months , First Bankcard has also partnered with Swagbucks.com to introduce the Swagbucks Secured Visa .

1

5/16/2014

Partner

United States

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10

6/20/2012

Partner

United States

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10

1/1/1979

Vendor

United States

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10

Date

8/26/2014

5/16/2014

6/20/2012

1/1/1979

Type

Partner

Partner

Partner

Vendor

Business Partner

Country

United States

United States

United States

United States

News Snippet

Regional Michigan Bank Launches Dream Card.

In the past couple of months , First Bankcard has also partnered with Swagbucks.com to introduce the Swagbucks Secured Visa .

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Sources

1

10

10

10

Chemical Financial Corporation Service Providers

1 Service Provider

Chemical Financial Corporation has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Merger

Investment Bank

Financial Advisor

Service Provider

Associated Rounds

Merger

Provider Type

Investment Bank

Service Type

Financial Advisor

Partnership data by VentureSource

Chemical Financial Corporation Team

10 Team Members

Chemical Financial Corporation has 10 team members, including former Chief Financial Officer, Michael Benjamin.

Name

Work History

Title

Status

Michael Benjamin

Chief Financial Officer

Former

Gregory Bixby

Executive Vice President

Former

Andrew Holley

Fidelity International, and J.P. Morgan Chase & Co.

Senior Vice President

Former

John Simons

Senior Vice President

Former

Kenneth Thorn

Senior Vice President

Former

Name

Michael Benjamin

Gregory Bixby

Andrew Holley

John Simons

Kenneth Thorn

Work History

Fidelity International, and J.P. Morgan Chase & Co.

Title

Chief Financial Officer

Executive Vice President

Senior Vice President

Senior Vice President

Senior Vice President

Status

Former

Former

Former

Former

Former

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