TCF Financial Corporation Announces Definitive Agreement to Acquire Gateway One Lending & Finance, LLC

TCF Financial Corporation

today announced that its wholly-owned subsidiary, TCF National Bank, has signed a definitive agreement to acquire Gateway One Lending & Finance, LLC. Headquartered in Anaheim, California, Gateway One is a privately held lending company that utilizes its more than 3,100 active dealer relationships to originate loans to consumers in 30 states, primarily on used automobiles. As of September 30, 2011, the company had originated $214 million in auto loans year-to-date and had a managed portfolio of $406 million.