Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 4:20 PM

This Slide: #557 of 609

Slide #557. TCF Financial Corporation — Preferred Stock Offering

Company:	TCF Financial Corporation (TCB)
Date announced:	12/12/2012
Security type:	6.45% Series B Non-Cumulative Perpetual Preferred Stock (TCB.PRB)
Shares Offered:	4,000,000
Date of Pricing:	12/12/2012
Price Per Share:	$25.00
Closed Date:	12/19/2012
Date of Over-Allotment Closing:	12/19/2012
Preferred Stock Offering Details:	TCF Financial Corporation announced the pricing of its public offering of 4,000,000 shares of 6.45% Series B Non-Cumulative Perpetual Preferred Stock ("Preferred Stock"), at a public offering price of $25.00 per share for gross proceeds of $100 million. TCF has also granted the underwriters a 30-day option to purchase up to an additional 600,000 shares to cover over-allotments, if any, at the same price for potential additional gross proceeds of $15 million. Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers. RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated served as co-managers.

TCF Financial is a bank holding company. Through its subsidiary, Co. provides retail banking and commercial banking products. Co.'s segments are: Consumer Banking, which is comprised of all of Co.'s consumer-facing businesses and includes retail banking, consumer real estate and auto finance; Wholesale Banking, which is comprised of commercial real estate and business lending, leasing and equipment finance and inventory finance; and Enterprise Services, which is comprised of corporate treasury, which includes Co.'s investment and borrowing portfolios and management of capital, debt and market risks. At Dec 31 2016, Co. had total assets of $21.44 billion and total deposits of $17.24 billion.

Preferreds: TCB.PRB, TCB.PRC