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Press Release

TCF Commercial Finance Canada, Inc. Assumes Arctic Cat Floorplan Financing Program

Company Release - 8/24/2010 3:07 PM ET

HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)-- TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank, announced today that its affiliate, TCF Commercial Finance Canada, Inc. (“TCFCFC”), reached an agreement with Textron Financial Canada Limited (“Textron Financial Canada”), a subsidiary of Textron Financial Corporation, to assume the rights of their existing Arctic Cat Sales Inc. (“Arctic Cat”) program and become the exclusive inventory finance source for Arctic Cat’s Canadian dealers.

Textron Financial Canada and TCFCFC have agreed that TCFCFC will acquire substantially all the existing Arctic Cat floorplan receivables owing to Textron Financial Canada in a subsequent transaction which should close on or prior to October 1, 2010. The assumption of this program by TCFCFC represents the opportunity to finance future Arctic Cat purchases for Arctic Cat’s dealers in Canada starting this month.

“Assumption of the Arctic Cat floorplan finance program is a clear statement of TCFIF’s and TCFCFC’s commitment to support dealers and suppliers in the power sports industry in the United States and Canada,” said Mr. Ross Perrelli, President and CEO of TCFIF. “We are truly excited and completely dedicated to providing exemplary service to our new customer base. We believe this relationship is an excellent fit for Arctic Cat, their Canadian dealers and TCFCFC.”

TCFIF and TCFCFC ( offer a full range of inventory financing solutions to retailers throughout the United States and Canada, respectively, in the consumer electronics and household appliances industry, the lawn and garden industry and the power sports industry. TCFIF and TCFCFC are indirect subsidiaries of TCF Financial Corporation (NYSE: TCB) (, a Wayzata, Minnesota-based bank holding company with $18 billion in total assets. TCF has 441 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF also conducts commercial leasing and equipment finance business in all 50 states.

Arctic Cat Inc. ( is a manufacturer of snowmobiles and all terrain vehicles (ATVs).

Source: TCF Financial Corporation


TCF Financial Corporation, Wayzata

Jason Korstange, 952-745-2755

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