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Craig Dahl has played a key role transforming the Minnesota company from a local lender driven by fees to one with national lending platforms. He discusses those moves, and the future of banking, in a wide-ranging interview.
October 15 -
Bill Cooper is set to retire as chief executive of TCF Financial in Wayzata, Minn., at the end of this year.
August 31 -
TCF Financial has designed a new logo and launched a new marketing campaign to improve its image, which has taken a hit lately according to recent customer-satisfaction surveys.
May 28
Low interest rates continue to constrain growth at TCF Financial in Wayzata, Minn.
The $20 billion-asset company
Net interest income inched up 1%, to $205.3 million, as higher revenue from TCF’s fast-growing auto and inventory finance units was offset by lower yields.
Total loans grew 5%, to $17.2 billion. The net interest margin contracted 20 basis points, to 4.4%.
Fee-based revenue declined by 3%, to $11.3 million. The company attributed the drop to “changes in consumer behavior” as well as higher average checking account balances.
Noninterest expenses edged up 1%, to $222.3 million, mostly from higher salary costs.
