Businessweek

TCF Financial Corporation (TCF Financial) operates as the holding company for TCF National Bank (TCF Bank), which provides retail and commercial banking services in the United States and Canada. TCF Bank operates bank branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota. The company’s focus is on the delivery of retail and commercial banking products in markets served by TCF Bank. It also conducts commercial leasing and equipment finance business in all 50 states and in foreign countries, commercial inventory finance in the U.S. and Canada, and indirect auto finance business in approximately 30 states. The company’s main businesses include Retail Banking, Wholesale Banking and Treasury Services. Retail Banking As of December 31, 2011, the company had 434 retail banking branches consisting of 195 traditional branches, 231 supermarket branches, and 8 campus branches. It operates 196 branches in Illinois, 110 in Minnesota, 53 in Michigan, 36 in Colorado, 26 in Wisconsin, 7 in Arizona, 5 in Indiana and 1 in South Dakota. The company makes consumer loans for personal, family or household purposes, such as home purchases, debt consolidation, financing of home improvements, autos, vacations and education. Its retail lending origination activity primarily consists of consumer real estate secured lending. The company also includes originating loans secured by personal property and unsecured personal loans. Consumer loans are made on a fixed-term basis or revolving line of credit. The company offers a selection of deposit products including consumer interest-bearing checking accounts, money market accounts, regular savings accounts, certificates of deposit, and retirement savings plans. The company has alliances with the University of Minnesota, the University of Michigan, the University of Illinois and two other colleges. It provides multi-purpose campus cards for these colleges. These cards serve as a school identification card, ATM card, library card, security card, health care card, phone card and stored value card for vending machines or similar uses. Wholesale Banking Commercial Real Estate Lending: Commercial real estate loans are loans originated by the company that are secured by commercial real estate, including retail centers, multi-family housing, office buildings, and commercial real estate construction loans, mainly to borrowers based in its primary banking markets. Commercial Business Lending: Commercial business loans are loans originated by the company that are secured by various types of business assets, including inventory, receivables, equipment or financial instruments. In very limited cases, loans may be originated on an unsecured basis. Commercial business loans are used for various purposes including working capital and financing the purchase of equipment. Commercial Banking: Small business and commercial deposits are attracted from within the company’s primary banking market areas through the offering of a selection of deposit instruments, including small business and commercial demand deposit accounts, interest-bearing checking accounts, money market accounts, regular savings accounts and certificates of deposit. Leasing and Equipment Finance: The company provides a range of comprehensive lease and equipment finance products addressing the financing needs of diverse types of small to large companies. Its leasing and equipment finance businesses, TCF Equipment Finance, Inc. (TCF Equipment Finance) and Winthrop Resources Corporation (Winthrop Resources), finance equipment in all 50 states and in foreign countries. TCF Equipment Finance delivers equipment finance solutions primarily to small and mid-size companies in various industries with significant diversity in the types of underlying equipment. Winthrop Resources focuses on providing customized lease financing to meet the special needs of mid-size and large companies and health care facilities that procure high-tech business essential equipment, such as computers, servers, telecommunication and other technology equipment. Inventory Finance: Inventory Finance business originates commercial variable-rate loans which are secured by the underlying floorplan equipment and supported by repurchase agreements from original equipment manufacturers. The operation is focused on establishing relationships with distributors, dealer buying groups and manufacturers, giving access to thousands of independent lawn and garden, electronics and appliance, powersports, recreation vehicle, marine, and specialty vehicle retailers. TCF Inventory Finance operates in the U.S. and Canada. In 2009, TCF Inventory Finance formed a joint venture with The Toro Company (Toro) called Red Iron Acceptance, LLC (Red Iron). Red Iron provides U.S. distributors and dealers and select Canadian distributors of the Toro and Exmark brands with sources of financing. Auto Finance: In 2011, the company entered the auto lending market with the acquisition of Gateway One Lending & Finance, LLC (Gateway One). Gateway One originates and services loans on new and used autos to customers through relationships established with approximately 3,400 independent dealers in 30 states. Treasury Services The company has authority to invest in various types of liquid assets, including United States Department of the Treasury (U.S. Treasury) obligations and securities of various federal agencies and U.S. Government sponsored enterprises, deposits of insured banks, bankers’ acceptances and federal funds. Regulation The company, as a publicly held bank holding company, and TCF Bank, which has deposits insured by the Federal Deposit Insurance Corporation (FDIC), are subject to various laws and regulations. The company’s primary regulator is the Federal Reserve and TCF Bank’s primary regulator is the Office of the Comptroller of the Currency (OCC). History TCF Financial Corporation was founded in 1923.