TCF Bank Expands Commercial Banking Business
WAYZATA, Minn.--(BUSINESS WIRE)-- TCF National Bank (TCF Bank) announced today the creation of a new commercial banking division called TCF Capital Funding. TCF Capital Funding, headquartered in Burr Ridge, Illinois, will specialize in asset-based and cash flow lending to smaller middle market companies across the U.S.
TCF Capital Fundings President, Joe Gaffigan, joins TCF Bank after a twenty-five year career in the leverage finance business. Mr. Gaffigan previously held senior level management positions with MFC Capital Funding, where he most recently served as Co-Founder, President & Chief Executive Officer, as well as Fifth Third Banks Structured Finance Group. Mr. Gaffigan will report to Jim Urbanek, Managing Director of Commercial Banking.
Joining Mr. Gaffigan at TCF Capital Funding are several leverage finance veterans including Senior Vice Presidents Ed Ryczek and Thom Karle, Vice Presidents Jim Kuncl and Monica Briseno, and Assistant Vice President Frances Miller.
"TCF is committed to developing new products and services targeted at the commercial middle market segment, said Craig R. Dahl, Vice Chairman of Lending. The expansion of our commercial lending business into leverage finance will continue to diversify and grow TCFs assets on a disciplined basis. Joe has assembled a strong management team with a wealth of industry experience that has worked together for a significant part of their business careers. Their experience and successful track record in the asset-based and cash flow lending industries, combined with the current competitive landscape, will allow TCF Capital Funding to quickly become a significant contributor to our corporate objectives."
About TCF Bank
TCF Bank is a wholly-owned subsidiary of TCF Financial Corporation (NYSE: TCB), a Wayzata, Minnesota-based national bank holding company with $19 billion in total assets at December 31, 2011. The company has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF Financial Corporation also conducts commercial leasing and equipment finance 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 Bank and TCF Financial Corporation, please visit www.tcfbank.com or http://ir.tcfbank.com.
Source: TCF Financial CorporationCopyright Business Wire 2012