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Section 1: 8-K (8-K)

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 


 

FORM 8-K

 


 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):

October 18, 2010

 


 

 

TCF FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

 


 

Delaware

 

001-10253

 

41-1591444

(State or other jurisdiction of
incorporation or organization)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

200 Lake Street East, Mail Code EX0-03-A, Wayzata, Minnesota 55391-1693

(Address of principal executive offices)                          (Zip Code)

 

(952) 745-2760

(Registrant’s telephone number, including area code)

 


 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


 

Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

The Board of Directors (the “Board”) of TCF Financial Corporation (the “Company”) filled a vacancy on the Board and elected Karen L. Grandstrand as a director of the Company, effective October 18, 2010.  Ms. Grandstrand will stand for re-election at the 2011 Annual Meeting of Stockholders.

 

Ms. Grandstrand is a partner at Fredrikson & Byron, PA, a Minneapolis-based law firm, and chairs their Bank and Finance Group.  Prior to joining the firm, Ms. Grandstrand was the Senior Vice President of the Banking Supervision and Risk Management Departments at the Federal Reserve Bank in Minneapolis from 1985 to 1999.

 

As a non-employee Director of the Company, Ms. Grandstrand is eligible to participate in the TCF Financial Director’s Stock Grant Program (the “Program”).  Under the Program, shares of the Company’s common stock are earned in an amount equal to the participant’s annual retainer fee for each fiscal year in which the Company’s financial performance exceeds a stated goal as determined by the Board from time to time.  A complete description of the Company’s non-employee director compensation can be found under the caption “Compensation of Directors” in the Company’s proxy statement for its 2010 Annual Meeting of Stockholders, which was filed with the Securities and Exchange Commission on March 10, 2010.

 

A copy of the press release issued by the Company on October 19, 2010, announcing Ms. Grandstrand’s election as a director is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 9.01  Financial Statements and Exhibits.

 

(d)         Exhibits.

 

Exhibit No.                            Description

 

99.1                                        Press Release dated October 19, 2010

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

TCF FINANCIAL CORPORATION

 

 

 

 

 

 

 

 

/s/ William A. Cooper

 

 

William A. Cooper,

Chairman and Chief Executive Officer

(Principal Executive Officer)

 

 

 

 

 

 

 

 

/s/ Thomas F. Jasper

 

 

Thomas F. Jasper, Executive Vice President and

Chief Financial Officer

(Principal Financial Officer)

 

 

 

 

 

 

 

 

/s/ David M. Stautz

 

 

David M. Stautz, Senior Vice President,

Controller and Assistant Treasurer

(Principal Accounting Officer)

 

Dated:    October 20, 2010

 

 

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Section 2: EX-99.1 (EX-99.1)

 

Exhibit 99.1

 

NEWS RELEASE

 

 

CONTACT:  

Jason Korstange

 

 

 

 

(952) 745-2755
www.tcfbank.com

 

 

 

 

 

 

 

 

FOR IMMEDIATE RELEASE

 

200 Lake Street East, Wayzata, MN 55391-1693

 

TCF’s Board of Directors Elect

Karen Grandstrand to Board Membership

 

WAYZATA, MN, October 19, 2010 — The Board of Directors of TCF Financial Corporation (“TCF”) (NYSE: TCB) today announced the election of Karen L. Grandstrand to the TCF Board of Directors, effective October 18, 2010.

Ms. Grandstrand is a partner at Fredrikson & Byron PA, a Minneapolis-based law firm, and chairs their Bank & Finance Group.  She joined Fredrikson in 1999 and advises financial services clients on mergers and acquisitions, corporate finance and governance matters, and other regulatory examination and compliance activities.  Prior to joining Fredrikson, Ms. Grandstrand had a 14-year career with the Federal Reserve Bank of Minneapolis where she was Senior Vice President of the Banking Supervision and Risk Management departments.

“It is an honor to welcome Karen Grandstrand to TCF’s Board of Directors.  Karen brings to the Board a wealth of knowledge and experience in the banking industry,” said

 

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William A. Cooper, Chairman of the Board and Chief Executive Officer.  “We very much look forward to her guidance and counsel.”

TCF is a Wayzata, Minnesota-based national bank holding company with $18 billion in total assets.  TCF has 441 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services.  TCF also conducts commercial leasing and equipment finance business in all 50 states and commercial inventory finance business in the U.S. and Canada.   For more information about TCF, please visit www.tcfbank.com.

 

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