TCF Financial operates as the bank holding company for TCF National Bank that provides various retail and commercial banking products and services in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota, and Indiana. The company was founded in 1923 and is based in Wayzata, Minnesota.
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TCF National Bank ("TCF Bank"), a wholly-owned subsidiary of TCF Financial Corporation ("TCF") (NASDAQ: TCF), today announced the completion of its offering of $150 million aggregate principal amount of 5.50% fixed-to-floating rate subordinated bank notes due 2030 (the "Subordinated Notes"). The Subordinated Notes were sold at par resulting in net proceeds, after underwriting commissions and other estimated offering expenses, of approximately $148.4 million.