Chemical Bank (merged into TCF National Bank)

What sets Chemical Bank apart

How large is Chemical Bank?

The balance sheet of Chemical Bank at Q2 2019: assets $22.5 bn, deposits $15.9 bn, net loans $15.8 bn (loans equal to 99.24% of deposits). Securities make up 17.5% of total assets at Chemical Bank. Since Q1 2016, when Chemical Bank held $9.3 bn, its assets grew 142.0%. In the year to Q2 2019, deposits at Chemical Bank rose 9.2% while its total assets rose 10.9%. At Q2 2019, Chemical Bank employed 3,155 full-time equivalent staff across 217 offices, about $7.1 mn of assets per employee and $73.3 mn of deposits per office.

How much funding at Chemical Bank is uninsured?

At Chemical Bank, uninsured deposits (above the FDIC limit) made up 40.94% of domestic deposits at Q2 2019 (+5.61 pp on a year earlier). In dollars, Chemical Bank estimated $6.5 bn of uninsured deposits.

Key facts, Q2 2019

US rank of Chemical Bank: 1 = highest unless marked 1 = lowest.

The CET1 ratio of Chemical Bank stood at 10.63% in Q2 2019, -0.06 pp year on year. Low and high at Chemical Bank since Q1 2016: 9.81% (Q3 2016) to 11.40% (Q4 2016). Equity capital of Chemical Bank at Q2 2019: $2.9 bn, or 13.1% of total assets. Chemical Bank also reported a total capital ratio of 11.35% for Q2 2019, and a tier 1 leverage ratio of 8.68%.

On held-to-maturity securities, Chemical Bank carried an unrealized gain of $9.5 mn at Q2 2019, equal to 0.3% of equity capital. The gain turned from a loss into a gain over the year. Its deepest point: $14.9 mn in Q4 2016. The available-for-sale portfolio of Chemical Bank showed an unrealized gain of $22.2 mn at Q2 2019; the gain turned from a loss into a gain over the year.

For the year to Q2 2019, Chemical Bank earned a return on equity of 9.98%; return on assets: 1.32%. Net interest margin at Chemical Bank: 3.36%, -0.19 pp in a year. Chemical Bank net income: $144.0 mn, down 0.5% year on year. The efficiency ratio of Chemical Bank was 52.53%: about 53 cents cost per revenue dollar, against 51 cents at the median peer.

At Q2 2019, noncurrent loans were 0.73% of total loans at Chemical Bank; net charge-offs: 0.05% of average loans. Gross loans and leases at Chemical Bank: $15.9 bn at Q2 2019, against $14.6 bn at Q2 2018.

The peer group of Chemical Bank is the 6 banks nearest to it by total assets at Q2 2019: 3 larger and 3 smaller. Of the peers, 0 share the charter type of Chemical Bank (state member bank) and 0 have head offices in Michigan. Against them, Chemical Bank shows CET1 ratio 10.63% against a peer median of 11.75%, return on equity 9.98% against a peer median of 11.36% and uninsured deposit share 40.94% against a peer median of 38.46%.

The FDIC history of Chemical Bank, oldest first; figures before and after each event are not like for like.

1. 14 November 2015. Absorbed The Bank of Holland (FDIC certificate 34862).
2. 14 November 2015. Absorbed The Bank of Northern Michigan (FDIC certificate 35324).
3. 11 November 2016. Absorbed Talmer Bank and Trust (FDIC certificate 58132).
4. 1 August 2019. Merged into TCF National Bank (FDIC certificate 28330).

Large one-quarter moves at Chemical Bank

• Total assets at Chemical Bank changed by +77.9% in the quarter to 2016-12-31: Merger -Without Assistance; Participated in Absorbtion/Consolidation/Merger: acquired from Talmer Bank and Trust.