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TCF ANNOUNCES SALE OF COMMON STOCK, COMPLETION OF OFFERING

 TCF ANNOUNCES SALE OF COMMON STOCK, COMPLETION OF OFFERING
 MINNEAPOLIS, Jan. 29 /PRNewswire/ -- TCF Financial Corporation (NYSE: TCB)(TCF) announced today the sale of 240,000 shares of common stock, completing its common stock and subordinated capital notes offering. The sale represents the exercise by the underwriters, Piper, Jaffray & Hopwood Inc. and Dain Bosworth Inc., of their option to purchase up to an additional 15 percent of the 1.6 million shares of common stock sold Jan. 3, at $18.50 per share. TCF received net proceeds of $4.2 million.
 The underwriters earlier exercised a $4.5 million over-allotment option on the sale of $30 million of 10-year, 10 percent subordinated capital notes.
 TCF's total net proceeds of $65.1 million from the offering increase the regulatory capital of TCF Bank Savings fsb (TCF Bank) above all minimum requirements and will be used for general business purposes.
 TCF is the holding company for TCF Bank, which has 58 Minnesota and 20 northern Illinois branches. TCF Bank also owns and operates a mortgage company, an insurance agency and a title insurance agency.
 -0- 01/29/92
 /CONTACT: Cynthia A. Wind of TCF, 612-370-7390/
 (TCB) CO: TCF Financial Corporation ST: Minnesota IN: FIN SU: OFR


KH -- MN004 -- 4724 01/29/92 12:05 EST
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Publication:PR Newswire
Date:Jan 29, 1992
Words:213
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