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Section 1: 8-K (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):
August 28, 2015

 
 
TCF FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware
(State or other jurisdiction of
incorporation)
001-10253
(Commission File Number)
41-1591444
(IRS Employer Identification No.)
 
200 Lake Street East, Mail Code EX0-03-A, Wayzata, Minnesota 55391-1693
(Address of principal executive offices, including 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:
 
[ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
[ ]   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.
On August 28, 2015 Craig R. Dahl was elected Chief Executive Officer of TCF Financial Corporation (“TCF” or the “Company”), effective on January 1, 2016. Mr. Dahl, age 61, has been President of the Company since May 2015, a title that he will continue to retain, and was Executive Vice President of the Company from 1999. Mr. Dahl’s other titles with the Company, all of which he continues to hold, and business experience are incorporated by reference to Mr. Dahl’s biography appearing on page 5 of the Company’s definitive proxy statement dated March 11, 2015.
As provided for in his Amended and Restated Employment Agreement, William A. Cooper will remain with the Company as executive Chairman of the Board following the January 1, 2016 effective date of Mr. Dahl’s election as Chief Executive Officer.
A copy of the press release issued by the Company on August 31, 2015 announcing the change 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 August 31, 2015








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/ Michael S. Jones
 
Michael S. Jones,
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
 
 
 
 
 
/s/ Susan D. Bode
 
Susan D. Bode,
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
 
Dated: August 31, 2015



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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


Exhibit 99.1
NEWS RELEASE

TCF Financial Corporation • 200 Lake Street East • Wayzata MN 55391

FOR IMMEDIATE RELEASE    

Contact:
Mark Goldman     (952) 475-7050     [email protected]     (Media)
Jason Korstange     (952) 745-2755        [email protected]    (Investors)

TCF FINANCIAL CORPORATION NAMES CRAIG DAHL CHIEF EXECUTIVE OFFICER EFFECTIVE JANUARY 1, 2016

WAYZATA, Minn. (August 31, 2015) - The Board of Directors of TCF Financial Corporation (TCF) (NYSE: TCB) today announced that Craig R. Dahl, vice chairman and president, will succeed William A. Cooper as chief executive officer effective January 1, 2016. Cooper will remain chairman through 2017.

“After the completion of a thorough succession planning process, the Board of Directors has unanimously chosen Craig Dahl to lead TCF into the future,” said Cooper. “The leadership and success Craig has demonstrated at TCF along with his vast experience in the banking industry make him the ideal choice.”

Dahl joined TCF in 1999 as president and chief executive officer of TCF Equipment Finance, Inc. and later was named president and chief executive officer of Winthrop Resources Corporation. He began serving as vice chairman of TCF in 2012 and was promoted to president in 2015. Dahl currently oversees TCF’s six lending businesses, Retail Banking and information technology. Prior to joining TCF, he held a number of leadership positions with a major financial services company for 22 years. Dahl holds a bachelor’s degree in political economics from Princeton University and is a native of International Falls, Minnesota.

“I believe that Craig is the right person to lead TCF going forward,” said Cooper. “He has been a vital part of TCF’s successes during his tenure, especially the transformation of the company that has taken place over the past several years. Craig’s expertise in national lending platforms is unmatched in the industry and he has already demonstrated effective leadership across the entire company since being promoted to president earlier this year. I have every confidence in Craig and look forward to working with him in the chairman role through 2017.”

“I have been fortunate to work closely with Bill throughout my 16 years at TCF and have learned much through his leadership,” said Dahl. “Over the past several years, we have built a superior management team and made great progress in positioning TCF for the new banking environment. I look forward to leading this talented and experienced group and building on past successes by executing our strategic plan and maximizing shareholder value going forward.”

-more-




About TCF
TCF is a Wayzata, Minnesota-based national bank holding company. As of June 30, 2015, TCF had $19.8 billion in total assets and 376 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota and Indiana, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada. For more information about TCF, please visit http://ir.tcfbank.com.
            
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TCF Financial Corporation Names Craig Dahl Chief Executive Officer Effective January 1, 2016 - page 2

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