TCF Financial Corporation

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TCF Financial Corporation
Type Public
Traded as NYSETCB
Industry Banking
Founded 1923 (1923)
Headquarters Wayzata, MN, USA
Number of locations 425
Area served Midwest and Colorado Plateau
Total assets US$18.4 billion
Website tcfbank.com

TCF Financial Corporation is a Wayzata, Minnesota-based national bank holding company. As of December 31, 2013, TCF had $18.4 billion in total assets and nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing and equipment finance business in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in 45 states.[1]

Subsidiaries[edit]

Banking:

Leasing:

  • TCF Equipment Finance
  • Winthrop Resources Corporation

Inventory Finance:

  • TCF Inventory Finance, Inc.
  • TCF Commercial Finance Canada, Inc.

Auto Finance:

  • Gateway One Lending & Finance, LLC

Philanthropy:

  • TCF Foundation

Officers[edit]

  • William A. Cooper, Chairman and Chief Executive Officer
  • Barry N. Winslow, Vice Chairman of Corporate Development
  • Thomas F. Jasper, Vice Chairman of Funding, Operations & Finance
  • Craig R. Dahl, Vice Chairman of Lending
  • Michael S. Jones, Executive Vice President & Chief Financial Officer
  • Earl D. Stratton, Executive Vice President & Chief Operations Officer

History[edit]

TCF Financial Corporation began business in 1923 as Twin City Building and Loan Association. The company went public in 1986 chartered under the name TCF Banking and Savings, F.A. (TCF Bank). In the 1990s, the company expanded banking into Michigan through the acquisitions of First Federal Savings Bank of Oakland County and Great Lakes National Bank. 1997 saw the acquisition of Winthrop Resources Corporation and 2004 saw the acquisition of VGM Leasing, Inc. In 2008, TCF entered the commercial inventory finance business in the U.S. and Canada with the creation of TCF Inventory Finance, Inc. TCF then entered the indirect auto finance business with he acquisition of Gateway One Lending & Finance in 2011.

Operations[edit]

TCF's primary funding source for its loan and lease growth is its low cost, core deposit base. TCF offers various banking services: checking; traditional, supermarket and campus branches; debit cards, coin counting and withdrawals at ATMs; and TCF Online Banking and Mobile Banking.

TCF maintains a well-diversified loan and lease portfolio[clarification needed] by business unit, segment, geography, rate, duration and collateral type. TCF's loan and lease portfolio consists of consumer real estate, commercial, leasing and equipment finance, inventory finance and auto finance.

External links[edit]

Notes and references[edit]