TCF Financial Corporation
TCF Financial Corporation was a Detroit-based bank holding company whose TCF Bank subsidiary provided branch banking, specialty lending, and leasing services before its acquisition by Huntington Bancshares in 2021.
Last updated August 31, 2026
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Overview
TCF Financial Corporation was a United States bank holding company associated with TCF Bank, a regional banking institution that operated primarily in the Upper Midwest. The TCF name was derived from Twin City Federal, reflecting the institution’s roots in the Minneapolis–Saint Paul area, although the company ultimately established its headquarters in Detroit, Michigan. Before its disappearance as an independent company, TCF combined a consumer and commercial branch network with specialty finance and leasing operations. The institution traced its history to Chemical State Savings Bank, founded in 1917. Over the following decades, the predecessor bank changed its name several times, becoming Chemical Bank Trust in 1964 and Chemical Bank in 1974. Its history also included a highly publicized 1937 robbery at the Chemical Bank headquarters in which Tony Chebatoris was prosecuted and received the death penalty, reportedly becoming the only person to receive that penalty in Michigan. Chemical Financial expanded through a series of acquisitions. It acquired O.A.K. Financial Corporation in 2010, Northwestern Bank in 2014, Monarch Community Bancorp in 2015, Lake Michigan Financial Corporation later in 2015, and Talmer Bancorp in 2016. These transactions broadened its branch presence and strengthened its position in Michigan and neighboring markets. In 2017, longtime chief executive David B. Ramaker retired and David T. Provost became president and chief executive officer. In 2018, the company announced that it would relocate its headquarters and more than 500 employees to Detroit. The strategic repositioning was followed by a 2019 merger with TCF Financial Corporation, described as the third-largest bank in the Minneapolis–Saint Paul market. The combined company adopted the TCF Financial Corporation name and operated TCF Bank branches across Minnesota, Illinois, Michigan, Colorado, Wisconsin, Ohio, and South Dakota. Its specialty lending and leasing businesses extended across all 50 U.S. states and also served customers in Canada, New Zealand, and Australia. TCF’s activities included deposit-taking, consumer and business banking, commercial finance, and equipment-related lending and leasing. The company operated 478 branches at the time described in the reference material. It also used its corporate brand in high-profile naming-rights arrangements, including the University of Minnesota stadium and Detroit’s Cobo Center, which became TCF Center in 2019. The company faced public criticism in 2020 after a branch employee contacted police about an African-American customer attempting to deposit settlement checks. The customer alleged racial discrimination and filed suit. TCF apologized, acknowledged that police involvement was inappropriate, and said the branch had been applying additional scrutiny to a large deposit and cash request. TCF exited Arizona branch banking in 2020 by selling its seven Arizona branches to Global Credit Union. In June 2021, Huntington Bancshares acquired TCF. As part of the regulatory approval process, 13 Michigan branches were sold to Horizon Bank. The merger ended TCF Financial Corporation’s existence as an independent bank holding company, and several TCF-branded properties and operations were subsequently associated with Huntington.
History
TCF Financial Corporation’s institutional history combined the legacy of Chemical Financial with the TCF banking franchise. The earliest predecessor identified in the reference material was Chemical State Savings Bank, founded in 1917. The institution later operated as Chemical Bank Trust after a 1964 name change and as Chemical Bank after another change in 1974. The predecessor bank’s history included a notorious 1937 robbery at the Chemical Bank headquarters. Tony Chebatoris was prosecuted in connection with the crime and received the death penalty, described in the reference material as the only such sentence imposed in Michigan. This episode became part of the historical record of the institution, although it was unrelated to the company’s later banking strategy. Chemical Financial pursued expansion through acquisitions beginning with O.A.K. Financial Corporation in May 2010. It acquired Northwestern Bank in October 2014 for $121 million in cash. In April 2015, it acquired Monarch Community Bancorp for $27.2 million in stock, followed in June 2015 by the acquisition of Lake Michigan Financial Corporation for $187.4 million in cash and stock. In August 2016, Chemical Financial acquired Talmer Bancorp for $1.7 billion in cash and stock. The transactions increased its scale and broadened its branch footprint, particularly in Michigan and nearby Midwestern markets. Leadership changed in 2017, when president and chief executive David B. Ramaker retired and David T. Provost succeeded him. In July 2018, the company announced a move of its headquarters and more than 500 employees to Detroit, signaling a stronger connection to the city’s business community. The company also acquired naming rights to Cobo Center in February 2019; the convention center was renamed TCF Center in August of that year. A major corporate transition occurred in 2019, when Chemical Financial merged with TCF Financial Corporation. The combined organization assumed the TCF Financial Corporation name. TCF Bank became the principal operating banking subsidiary, with 478 branches across Minnesota, Illinois, Michigan, Colorado, Wisconsin, Ohio, and South Dakota. Beyond branch banking, TCF maintained specialty lending and leasing operations serving all 50 states and international markets including Canada, New Zealand, and Australia. The TCF brand was also used in sports and civic naming rights. The University of Minnesota’s stadium carried TCF naming rights before later becoming Huntington Bank Stadium. In Detroit, Cobo Center became TCF Center and was later renamed Huntington Place after the Huntington transaction. In January 2020, a dispute at a Livonia, Michigan, branch generated allegations of racial discrimination. An assistant manager contacted police when customer Sauntore Thomas attempted to deposit checks from a settlement in a discrimination case. The branch treated the checks as potentially fraudulent even after the customer’s attorney provided verification. Thomas filed suit the following day. TCF apologized shortly afterward, stating that police involvement was inappropriate and explaining that the branch had been applying enhanced scrutiny to a large deposit and cash request. TCF sold its seven Arizona branches to Global Credit Union in 2020. In June 2021, Huntington Bancshares acquired TCF. The transaction required the divestiture of 13 Michigan branches to Horizon Bank for regulatory approval. Completion of the Huntington transaction ended TCF Financial Corporation as an independent company and shifted its banking operations and naming-rights properties into the Huntington organization.
- 2021
Acquisition by Huntington Bancshares
[1]Huntington Bancshares acquired TCF in June; 13 Michigan branches were sold to Horizon Bank as part of regulatory approval.
- 2020
Arizona branch sale
[1]TCF sold all seven of its Arizona branches to Global Credit Union.
- 2019
Merger with TCF Financial Corporation
[1]Chemical Financial merged with TCF Financial Corporation and adopted the TCF Financial Corporation name.
- 2019
Cobo Center renamed TCF Center
[1]The Detroit convention center became TCF Center after the company acquired its naming rights.
- 2018
Headquarters relocation to Detroit announced
[1]The company announced plans to move its headquarters and more than 500 employees to Detroit.
- 2017
David T. Provost became chief executive
[1]David B. Ramaker retired and David T. Provost became president and chief executive officer.
- 2016
Acquisition of Talmer Bancorp
[1]Chemical Financial acquired Talmer Bancorp in August for $1.7 billion in cash and stock.
- 2015
Acquisitions of Monarch Community Bancorp and Lake Michigan Financial
[1]The company acquired Monarch Community Bancorp in April and Lake Michigan Financial Corporation in June.
- 2014
Acquisition of Northwestern Bank
[1]The company acquired Northwestern Bank in October for $121 million in cash.
- 2010
Acquisition of O.A.K. Financial Corporation
[1]Chemical Bank acquired O.A.K. Financial Corporation in May.
Products and positioning
A regional Midwest bank holding company combining branch-based consumer and commercial banking with nationwide specialty lending and leasing capabilities.
Retail and commercial banking
TCF Bank branch banking
TCF Bank was the company’s principal operating banking subsidiary. It operated a regional branch network across Minnesota, Illinois, Michigan, Colorado, Wisconsin, Ohio, and South Dakota, providing branch-based consumer and business banking services. The reference material identifies 478 branches before the Huntington transaction.
Lending
Specialty lending
TCF operated specialty lending businesses beyond its core regional branch footprint. These operations served customers throughout the United States and supported the company’s broader commercial-finance strategy.
Equipment finance and leasing
Leasing services
The company operated leasing businesses in all 50 states and in Canada, New Zealand, and Australia. These activities complemented its branch banking business by providing financing and leasing capabilities in wider geographic markets.
Controversies
2020
Racial discrimination lawsuit involving a Livonia branch
In January 2020, a Livonia, Michigan, branch contacted police after customer Sauntore Thomas attempted to deposit checks received as a settlement in a racial discrimination case. The branch questioned the checks and reported suspected fraud despite verification from Thomas’s attorney. Thomas filed suit, and TCF apologized, saying that police should not have been involved.
Marketing campaigns
- 2019TCF Center naming-rights sponsorship
Detroit · Michigan · United States
TCF acquired naming rights to Detroit’s Cobo Center in February 2019. The venue adopted the TCF Center name in August, giving the bank a prominent civic and corporate-brand presence in its headquarters city.
Outcome. The venue retained the TCF Center name until the Huntington combination, after which it became Huntington Place.
- University of Minnesota stadium naming-rights sponsorship
Minnesota · United States
TCF held naming rights for the University of Minnesota stadium, extending its brand visibility into collegiate sports and the Minneapolis–Saint Paul market.
Outcome. The stadium was later renamed Huntington Bank Stadium after TCF became part of Huntington.
Brand decisions
2021
Acquisition by Huntington BancsharesM&ABackground
TCF was absorbed into Huntington Bancshares in a large regional banking combination that required regulatory remedies.
Action taken
Huntington Bancshares acquired TCF in June 2021, while 13 Michigan branches were sold to Horizon Bank to secure regulatory approval.
Aftermath
TCF ceased operating as an independent bank holding company, and its brand assets and banking operations became part of Huntington.
2020
Sale of Arizona branchesStrategyBackground
TCF adjusted its branch network after the 2019 combination.
Action taken
The company sold all seven of its Arizona branches to Global Credit Union.
Aftermath
TCF exited Arizona branch banking while retaining broader specialty lending and leasing operations.
2019
Merger with TCF Financial CorporationM&ABackground
Chemical Financial combined with TCF Financial Corporation to create a larger regional banking organization.
Action taken
The combined company adopted the TCF Financial Corporation name and operated TCF Bank as its banking subsidiary.
Aftermath
The organization operated 478 branches across seven states and maintained specialty lending and leasing businesses with international reach.
2018
Headquarters relocation to DetroitStrategyBackground
The company sought a stronger Detroit presence as it expanded through acquisitions and prepared for its combination with TCF.
Action taken
TCF announced the relocation of its headquarters and more than 500 employees to Detroit.
Aftermath
Detroit became the company’s headquarters location and the center of its corporate identity.
2016
Acquisition of Talmer BancorpM&ABackground
Chemical Financial used a large-scale acquisition to broaden its regional banking platform.
Action taken
The company acquired Talmer Bancorp for $1.7 billion in cash and stock.
Aftermath
The transaction materially increased the predecessor company’s size and market presence.
Acquisition consideration. $1.7 billion (August 2016)
2015
Acquisition of Lake Michigan Financial CorporationM&ABackground
The company continued consolidating regional banking assets after acquiring Monarch Community Bancorp earlier in the year.
Action taken
Chemical Financial acquired Lake Michigan Financial Corporation for $187.4 million in cash and stock.
Aftermath
The acquisition increased the company’s scale in Michigan banking.
Acquisition consideration. $187.4 million (June 2015)
2014
Acquisition of Northwestern BankM&ABackground
Chemical Financial pursued acquisitions to expand its regional banking footprint.
Action taken
The company acquired Northwestern Bank for $121 million in cash.
Aftermath
The transaction expanded the predecessor organization’s banking operations.
Acquisition consideration. $121 million (October 2014)
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