WAYZATA, Minn.--(BUSINESS WIRE)--Apr. 22, 2009--
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
TCF Financial Corporation, Wayzata