TCF Expands into Inventory Finance Business

WAYZATA, Minn.--(Business Wire)--
TCF Financial Corporation (TCF) (NYSE: TCB) announced today the
creation of a new subsidiary called TCF Inventory Finance, Inc. ("TCF
Inventory Finance"). TCF Inventory Finance, headquartered in Hoffman
Estates, Illinois, will specialize in the inventory floorplan finance
business in the U.S. and Canada, with an initial focus on the consumer
electronics and household appliance industries.

TCF Inventory Finance is led by Ross A. Perrelli, President and
CEO, who joins TCF Inventory Finance after a thirty-year career in the
commercial finance business. Mr. Perrelli has held senior-level
management positions with Transamerica Finance Corporation, where he
most recently served as President, and Borg-Warner Acceptance
Corporation. Mr. Perrelli will report to Craig R. Dahl, Executive Vice
President of TCF Financial Corporation, President and CEO of TCF
Equipment Finance, Inc. and Chairman and CEO of Winthrop Resources
Corporation.

Joining Mr. Perrelli at TCF Inventory Finance are several
inventory finance veterans including Chris C. Meals as Chief Risk
Officer, H. James Hentz as Corporate Development Officer and Vincent
E. Hillery as General Counsel.

"The expansion of our commercial finance business into inventory
finance will diversify and grow TCF's Power Assets(R)," said William
A. Cooper, Chairman and CEO of TCF Financial Corporation. "Ross has
assembled a management team with a wealth of industry experience that
has worked together for a significant part of their business careers.
They have a successful track record in inventory finance for the
consumer electronics and household appliance industries. Their
combined experience and the current competitive landscape will allow
TCF Inventory Finance to quickly become a significant contributor to
our corporate objectives."

TCF is a Wayzata, Minnesota-based national financial holding
company with $16.5 billion in total assets. The company has 454
banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin,
Indiana and Arizona, providing retail and commercial banking services,
and investments and insurance products. TCF also conducts leasing and
equipment finance business in all 50 states.

TCF Financial Corporation, Wayzata
Jason Korstange, 952-745-2755
www.tcfbank.com

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