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TCF ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON STOCK AND CAPITAL NOTES

               TCF ANNOUNCES PROPOSED PUBLIC OFFERING
                  OF COMMON STOCK AND CAPITAL NOTES
    MINNEAPOLIS, Nov. 15 /PRNewswire/ -- TCF Financial Corporation (TCF) (NYSE: TCB) filed a registration statement with the Securities and Exchange Commission (SEC) today for a proposed offering of 1.6 million shares of common stock and $30 million of capital notes due 2002.  The common stock and capital notes are being offered separately and not as units.
    The primary purpose of the offering is to increase the regulatory capital of TCF Bank Savings fsb (TCF Bank).  The proceeds will be used for general business purposes.
    The offering will be underwritten by Piper, Jaffray & Hopwood Inc. and Dain Bosworth Inc.  It is expected to be completed by year end.
    TCF is the holding company for TCF Bank, which has 58 Minnesota and 20 Illinois branches.  TCF Bank also owns and operates a mortgage company, an insurance agency and a title insurance agency.
    The registration statement filed with the SEC has not yet become effective.  The common stock and capital notes may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common stock and capital notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
    -0-                      11/15/91
    /CONTACT:  Cindy Wind of TCF, 612-370-7390/
    (TCB) CO:  TCF Financial Corporation ST:  Minnesota IN:  FIN SU:  OFR KH -- MN002 -- 1543 11/15/91 12:21 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 15, 1991
Words:276
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