MINNETONKA, Minn.--(BUSINESS WIRE)--TCF Equipment Finance, Inc. (“TCFEF”), a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corporation (“TCF”) (NYSE: TCB), is commemorating its 15th year in business.
Since 1999, a small leasing organization with 28 employees has grown into one of the premier equipment finance companies in the United States. Today, TCFEF has more than 300 employees and recently achieved $3 billion in earning assets in November 2013.
TCFEF provides a full array of financial products nationwide to 11 industry segments, including: agriculture, commercial marine, construction and waste, discounting, franchise, golf, healthcare, homecare, manufacturing, specialty vehicles and syndications. TCFEF has consistently experienced strong performance in new business origination, portfolio performance, and net income levels.
“Over the years we have stayed true to our number one goal of being recognized as an industry leader by being experts in the markets we serve and providing excellent service while producing strong results,” said William Henak, president and chief executive officer of TCFEF. “We are more than a company, we are a team.”
TCFEF is also focused on continuing its culture of excellence and growth by developing its team members, investing in systems and process improvements, growing its core business, and expanding into new markets, segments, and products.
“Fifteen years is a significant milestone, but our focus is on long term, sustained growth and success through strong relationships with great customers and the passion and dedication of TCFEF team members,” said Henak. “We will continue to build on our team's strengths while becoming even better by listening to and acting to serve our customers’ needs and future plans.”
TCFEF was established in 1999 as TCF Leasing, Inc. The company was started under the direction of Craig Dahl, TCF Financial Corporation’s vice chairman of Lending. As TCF Leasing consistently grew and expanded its service offerings, it became TCF Equipment Finance, Inc. in 2005.
About TCF Equipment Finance, Inc.
TCF Equipment Finance, Inc., has 25 offices located in Arizona, California, Colorado, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Tennessee, Texas, and Wisconsin, and is an affiliate of TCF Financial Corporation (NYSE:TCB). For more information about TCFEF, please visit http://www.tcfef.com.
About TCF Financial Corporation
TCF is a Wayzata, Minnesota-based national bank holding company. As of March 31, 2014, TCF had $18.8 billion in total assets and 381 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing and equipment finance business in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in 48 states. For more information about TCF, please visit http://ir.tcfbank.com.
Safe Harbor for Forward-Looking Information
This press release may contain projections and other “forward-looking” statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements deal with future results, plans or performance. We caution you that such statements are predictions and that actual events or results may differ materially. TCF’s expected financial results or other plans are subject to a number of risks and uncertainties. Please see the forward-looking statement disclosure contained in TCF’s 2014 first quarter Form 10-Q for more information about risks and uncertainties. Forward-looking statements speak only as of the date made and TCF undertakes no duty to update the information.