Menu
Email page PDF view Print view Email Alert Social Media Sharing

Press Release

TCF Pays Back $361.2 Million of TARP Preferred Stock to the U.S. Treasury

Company Release - 4/22/2009 1:26 PM ET

WAYZATA, Minn.--(BUSINESS WIRE)-- TCF Financial Corporation (TCF) (NYSE:TCB) announced today that it has completed the repurchase of all 361,172 shares of 5 percent Fixed Rate Cumulative Perpetual Preferred Stock at a total redemption price of $361.2 million plus a final pro rata accrued dividend of $3.4 million.

"The American Recovery and Reinvestment Act of 2009, enacted February 17, included a provision allowing TARP participants to pay back TARP funds," said TCF Chairman and Chief Executive Officer William A. Cooper. "TCF has a strong capital position and is currently the largest bank to pay back TARP funds to the U.S. Treasury."

TCF is a Wayzata, Minnesota-based national financial holding company with $16.7 billion in total assets. The company has 449 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 and commercial inventory finance business in the U.S. and Canada. For more information about TCF, please visit www.tcfbank.com.

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

The information that is on or available through this site speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. TCF Financial Corporation does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.