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TCF Inventory Finance, Inc. and Independent Boat Builders, Inc. Enter into Financing Agreement

Company Release - 7/18/2012 5:32 PM 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 that it has entered into a multi-year agreement with Independent Boat Builders, Inc. (“IBBI”). TCFIF will provide wholesale floorplan financing solutions to the 22 boat manufacturers that are members of IBBI in the United States and Canada.

“We are very excited to begin this relationship with IBBI,” said Ross Perrelli, President and Chief Executive Officer of TCFIF. “I am highly confident that our dedication to our customers and strong commitment to the marine industry make TCFIF the best choice for IBBI and its members.”

The agreement with IBBI is a further demonstration of TCFIF’s continued intent to expand its presence in the marine industry.

“Both TCFIF and IBBI take tremendous pride in what we do, and that is what makes this a great business partnership,” stated Tom Broy, President of IBBI. “Both companies focus on providing top-notch and dependable programs and services that will help the industry continue to grow.”

For marine manufacturer and dealer inquiries in the U.S. and Canada, please contact either Peter Kelley, General Manager for the marine industry, at (877) 800-4430 or [email protected], or Bob Bejesky, National Relationship Manager, at (231) 944-5415 or [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 lawn and garden industry, the powersports industry, the recreation vehicle industry, the marine products industry and the consumer electronics and appliances industry. For more information about TCFIF, please visit www.tcfif.com.

About TCF Financial Corporation
TCFIF is an indirect subsidiary of TCF, a Wayzata, Minnesota-based national bank holding company with $17.8 billion in total assets at March 31, 2012. The company has over 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 and leverage lending in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states. For more information about TCF, please visit www.tcfbank.com.

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

Source: TCF Financial Corporation

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