TCF Announces Pricing of Preferred Stock Offering; Offers 5M Shares at $25 Each

TCF Financial Corporation TCB today announced the pricing of its public offering of 6,000,000 depositary shares, each representing a 1/1,000^th interest in a share of its Series A Non-Cumulative Perpetual Preferred Stock (“Preferred Stock”), par value $.01 per share, at a public offering price of $25.00 per depositary share for gross proceeds of $150 million. TCF has also granted the underwriters a 30-day option to purchase up to an additional 900,000 depositary shares to cover over-allotments, if any, at the same price for potential additional gross proceeds of $22.5 million. Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running managers. RBC Capital Markets, LLC and Stifel, Nicolaus & Company, Incorporated served as co-managers. Dividends will be payable on the Preferred Stock when, as and if declared by