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TCF Inventory Finance Announces Further Expansion into Marine Industry

Company Release - 1/12/2012 11:00 AM ET

SCHAUMBURG, Ill.--(BUSINESS WIRE)-- TCF Inventory Finance, Inc. (“TCFIF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), today announced plans to further expand its floorplan finance offerings into the marine industry within the U.S. and Canada.

Established in 2008, TCFIF’s executive leadership team averages over twenty years of inventory finance experience. Since its inception, TCFIF has become a powerful player in several industries including electronics and appliances and lawn and garden. TCFIF is gaining market share in the powersports industry as the exclusive floorplan finance provider for Bombardier Recreational Products (“BRP”) in the U.S. and Canada and Arctic Cat® in Canada.

TCFIF’s current reach into the marine industry extends to Alumacraft Boat Co., BRP’s Sea-Doo® products and BRP’s Evinrude® and Johnson® marine power products. Moving forward, TCFIF’s initial focus will be on contacting and developing relationships with marine manufacturers and dealers that produce and promote family-centric products such as fishing boats, pontoons, runabouts, ski boats and small cruisers. TCFIF will also work directly with key manufacturer groups in order to facilitate discussions and maximize opportunities.

“TCFIF provides a superior and much-needed financing source to the marine industry,” said Ross Perrelli, President and Chief Executive Officer of TCFIF. “Our objective is to work hand-in-hand with our customers to ensure the growth of their businesses. With our industry knowledge, top-notch customer service and innovative products, TCFIF is the best choice for floorplan financing for marine manufacturers and dealers.”

In addition to inventory financing, TCF provides the convenience of a “one-stop shop” for wholesale financing needs, also offering equipment financing and commercial banking products and services through TCF affiliated companies.

For marine manufacturer and dealer inquiries, please contact Tracy Williams at (877) 800-4430 extension 4429, or at [email protected].

About TCF Inventory Finance, Inc.
TCFIF is a premier inventory finance company offering a full range of inventory financing solutions to manufacturers, distributors and their dealers throughout the United States and Canada in the powersports industry, the lawn and garden industry, the recreational vehicle industry, the marine products industry and the consumer electronics and appliances industry. TCFIF originated approximately $2.5 billion in loans to nearly 9,000 customers in 2010. For more information about TCFIF, please visit www.tcfif.com.

About TCF Financial Corporation
TCFIF is an indirect subsidiary of TCF Financial Corporation, a Wayzata, Minnesota-based national bank holding company with $19.1 billion in total assets. TCF has 436 branches 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 and commercial inventory finance business in the U.S. and Canada. For more information about TCF, please visit www.tcfbank.com.

Safe Harbor for Forward-Looking Statements
Any statements contained in this release regarding the outlook for TCF’s businesses and their respective markets, such as projections of future performance, guidance, statements of TCF’s plans and objectives, forecasts of market trends and other matters, are forward-looking statements based on TCF’s assumptions and beliefs. Such statements may be identified by such words or phrases as “will likely result,” “are expected to,” “will continue,” “outlook,” “will benefit,” “is anticipated,” “estimate,” “project,” “management believes” or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in such statements and no assurance can be given that the results in any forward-looking statement will be achieved. For these statements, TCF claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to subsequently revise any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of anticipated or unanticipated events.

Certain factors could cause TCF’s future results to differ materially from those expressed or implied in any forward-looking statements contained in this release. These factors include the factors discussed in Part I, Item 1A of TCF’s Annual Report on Form 10-K under the heading “Risk Factors” and any other cautionary statements, written or oral, which may be made or referred to in connection with any such forward-looking statements. Since it is not possible to foresee all such factors, these factors should not be considered as complete or exhaustive.

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TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755
www.tcfbank.com

Source: TCF Financial Corporation

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