TCB » Topics » Item 8.01 Other Events.

This excerpt taken from the TCB 8-K filed Sep 28, 2009.

Item 8.01  Other Events.

 

On September 25, 2009, Winthrop Resources Corporation, a wholly-owned subsidiary of TCF Financial Corporation (“TCF”) announced that it has acquired for cash Fidelity National Capital, Inc., a wholly-owned subsidiary of Fidelity National Financial.  Fidelity National Capital, Inc. manages a portfolio comprised of approximately $250 million in leases.

 

A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

 

This excerpt taken from the TCB 8-K filed Aug 18, 2009.

Item 8.01  Other Events.

 

On August 18, 2009, an indirect subsidiary of TCF Financial Corporation, TCF Inventory Finance, Inc. (“TCFIF”), announced the creation of a joint venture with The Toro Company (“Toro”), on August 12, 2009, named Red Iron Acceptance, LLC (“Red Iron”).  Red Iron will provide U.S. distributors and dealers and select Canadian distributors of the Toro and Exmark brands with a reliable cost-effective source of floor plan and open account financing.  In conjunction with the joint venture, TCFIF’s affiliate, TCF Commercial Finance Canada, Inc., will provide floor plan and open account financing to dealers located in Canada.  Red Iron anticipates financing receivables beginning in the fourth quarter of 2009.

 

A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

 

This excerpt taken from the TCB 8-K filed Apr 20, 2009.

Item 8.01 Other Events.

 

On April 20, 2009, TCF Financial Corporation (the “Company” or “TCF”) issued a press release announcing that it has received approval from the U.S. Department of the Treasury to repurchase all of its 361,172 outstanding shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, for a total redemption price of $361.2 million plus a final pro rata accrued dividend.

 

Additionally, in accordance with recently published banking industry guidance from the Federal Reserve Board, TCF’s Board of Directors reduced the Company’s regular quarterly cash dividend on common stock from 25 cents to 5 cents per share payable on May 29, 2009 to stockholders of record at the close of business on May 1, 2009.

 

A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

 

This excerpt taken from the TCB 8-K filed Mar 2, 2009.

Item 8.01  Other Events.

 

On March 2, 2009, TCF Financial Corporation (the “Company”) issued a press release announcing that it had submitted to the United States Treasury Department a notice of redemption relating to its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, $.01 Par Value.  A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

 

This excerpt taken from the TCB 8-K filed Nov 3, 2008.

Item 8.01 Other Events.

 

TCF Financial Corporation announced it has received preliminary approval from the U.S. Treasury Department to participate in its Capital Purchase Program under the Emergency Economic Stabilization Act of 2008.  The approval is subject to certain conditions and the execution of definitive agreements.

 

This excerpt taken from the TCB 8-K filed Aug 19, 2008.

Item 8.01               Other Events.

 

TCF Financial Corporation, a Delaware corporation (“TCF”), and TCF Capital I, a statutory trust formed under the laws of the state of Delaware (the “Trust”), closed on August 19, 2008 the public offering of $100,000,000 aggregate liquidation amount of 10.75% Capital Securities, Series I (the “Capital Securities”) and the Trust used the proceeds from such issuance, together with the proceeds of the issuance of the Trust’s common securities to TCF, to purchase $100,010,000 aggregate principal amount of 10.75% Junior Subordinated Notes, Series I (the “Notes”) from TCF. The Capital Securities were sold pursuant to an Underwriting Agreement dated August 13, 2008 by and among TCF, the Trust and RBC Capital Markets Corporation, for itself and as representative of the several underwriters named therein (the “Underwriting Agreement”). TCF and the Trust also granted the underwriters a 30 day over-allotment option to purchase up to an additional $15,000,000 aggregate liquidation amount of the Capital Securities. TCF fully and unconditionally guaranteed payment of the Capital Securities on a subordinated basis and to the extent the Trust has funds available for payment pursuant to a Guarantee Agreement dated August 19, 2008 (the “Guarantee”) between TCF and Wilmington Trust Company (“Wilmington”), as Guarantee Trustee. The terms of the Capital Securities are set forth in the Amended and Restated Trust Agreement dated August 19, 2008 by and among TCF, Wilmington, the Administrative Trustees named therein and the Several Holders named therein (the “Trust Agreement”). The Notes were issued pursuant to an Indenture dated August 19, 2008 by and between TCF and Wilmington as supplemented by the Supplemental Indenture of the same date (the “Supplemental Indenture”). The Capital Securities, the Notes and the Guarantee have been registered under the Securities Act of 1933, as amended, pursuant to a registration statement on Form S-3 (File Nos. 333-152922 and 333-152922-01).

 

The Underwriting Agreement, the Indenture, the Supplemental Indenture, the Amended and Restated Trust Agreement, the Guarantee and the related forms of securities are included as Exhibits 1.1 and 4.1 — 4.6 hereto and are incorporated herein by this reference.

 

This excerpt taken from the TCB 8-K filed Apr 16, 2007.

Item 8.01   Other Events.

 

On April 14, 2007, the Board of Directors of the Company authorized another program for the repurchase of up to five percent of the Company’s outstanding common stock, or 6.5 million shares, through open market or privately negotiated transactions. This program is in addition to the 1.8 million shares remaining in its current stock repurchase program. The repurchased shares will become treasury shares. Attached hereto as Exhibit 99.1 and incorporated herein by reference is the Company’s press release dated April 16, 2007.

 

This excerpt taken from the TCB 8-K filed Nov 6, 2006.

Item 8.01 Other Events.

 

TCF National Bank, a subsidiary of TCF Financial Corporation (NYSE: TCB), and Independent Bank Corporation (NASDAQ: IBCP) announced today the execution of a definitive agreement for Independent Bank to acquire ten of TCF’s outstate branches in Battle Creek, Bay City and Saginaw, Michigan that have current total deposits of approximately $235 million.  It is anticipated that the transaction will be completed sometime during March 2007, pending regulatory approvals and the completion of other customary closing conditions.  The press release and the definitive agreement are included as Exhibits 99.1 and 99.2 to this current report. 

 

This excerpt taken from the TCB 8-K filed Feb 1, 2006.

Item 8.01 Other Events.

 

TCF National Bank (“TCF Bank”) a wholly-owned subsidiary of TCF Financial Corporation (“TCF”) will issue $75 million of subordinated notes on February 6, 2006, due February 1, 2016.  The notes bear interest at a fixed rate of 5.50% until maturity.  The notes will qualify as Tier 2 or supplementary capital for regulatory purposes, subject to certain limitations.  TCF Bank will pay $75 million to TCF as a return of capital.  TCF will use the funds for general corporate purposes, which may include repurchases from time to time in the open market of TCF common stock.

 

This excerpt taken from the TCB 8-K filed Nov 9, 2005.

Item 8.01  Other Events.

 

TCF Financial Corporation today announced that it intends to file an application with the Comptroller of the Currency and the Federal Deposit Insurance Corporation for a new wholly-owned national bank charter.  The newly chartered bank would operate in Arizona as TCF National Bank Arizona.  Initially, TCF plans to open several consumer loan production offices in the Phoenix metropolitan area during 2006 with construction of retail branches to begin later in 2006 or early 2007.

 

TCF has also announced that Timothy B. Meyer would serve as President of TCF National Bank Arizona.  Mr. Meyer will assume primary responsibility for opening the loan production offices and retail branches in Arizona, and will oversee all operations of this new bank.

 

This excerpt taken from the TCB 8-K filed May 26, 2005.

Item 8.01       Other Events.

 

Effective May 21, 2005, the Board of Directors of the Company authorized another program for the repurchase of up to five percent of the Company’s outstanding common stock, or 6.7 million shares, through open market or privately negotiated transactions.  This program is in addition to the existing program for repurchasing shares announced in July 2003.  The repurchased shares will become treasury shares.  Attached hereto as Exhibit 99.1 and incorporated herein by reference is the Company’s press release dated May 26, 2005.

 

This excerpt taken from the TCB 8-K filed Mar 24, 2005.

Item 8.01 Other Events.

 

TCF Financial Corporation (“TCF”) and the University of Minnesota (“the University”) announced a multiyear corporate sponsorship for a new stadium.  The deal provides TCF with exclusive naming rights for the stadium to be called “TCF Bank Stadium.”  In the naming rights agreement, TCF will pay the University $35 million over 25 years.  The University and TCF have also agreed to extend TCF’s sponsorship of the U Card, with estimated payments to the University of more than $1.6 million annually for student scholarships and programs, and other non-stadium purposes. TCF will also be able to offer an affinity debit card to University alumni and athletics supporters, for which the University will receive annual royalties. TCF will also have options to extend its ATM lease and to lease a new banking office on the University of Minnesota campus.

 

 

 

This excerpt taken from the TCB 8-K filed Mar 11, 2005.

Item 8.01  Other Events.

 

TCF National Bank (“TCF Bank”) a wholly-owned subsidiary of TCF Financial Corporation (“TCF”) will issue, on March 16, 2005, $50 million of subordinated notes due 2015.  The notes bear interest at a fixed rate of 5.00% for the first five years and will reprice quarterly thereafter at the three-month LIBOR rate plus 1.56%.  The notes may be redeemed by TCF Bank at par after five years and will qualify as Tier 2 or supplementary capital for regulatory purposes, subject to certain limitations.  TCF Bank will pay the proceeds from the offering to TCF to be used for general corporate purposes, which may include repurchases in the open market of TCF common stock.

 

This excerpt taken from the TCB 8-K filed Jan 11, 2005.

Item 8.01 Other Events.

 

TCF Financial Corporation reports that the first one-half of its Year 2000 Performance Stock Awards to executives has vested.

 

The company will release financial results for the fiscal year 2004 on January 13, 2005.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

TCF FINANCIAL CORPORATION

 

 

 

 

 

/s/ Gregory J. Pulles

 

Gregory J. Pulles, Vice Chairman,

 

General Counsel and Secretary

 

Dated:    January 11, 2005

 

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