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TCF RECEIVES REGULATORY APPROVAL TO ACQUIRE REPUBLIC CAPITAL

 MINNEAPOLIS, April 20 /PRNewswire/ -- TCF Financial Corporation (NYSE: TCB) (TCF) announced today that the Office of Thrift Supervision has approved TCF's application to acquire Republic Capital Group, Inc., (NASDAQ: RSLA) (RCG) a Milwaukee-based thrift holding company with $1 billion in assets.
 Under the merger agreement, TCF will acquire RCG in a tax-free stock-for-stock exchange. The exchange ratio will be based upon the market value of TCF common stock prior to closing. TCF expects to issue approximately 2.2 million shares.
 The acquisition is subject to approval by TCF and RCG shareholders at meetings on April 21 and is expected to close shortly thereafter. The transaction will be accounted for as a pooling-of-interests.
 TCF, with $4 billion in assets, is the Minneapolis-based holding company for TCF Bank Savings fsb, which has 61 offices in Minnesota, 21 in northern Illinois, and one each in Wisconsin and Iowa.
 RCG is the holding company for Republic Capital Bank, F.S.B., which has 24 offices in eastern Wisconsin, and Peerless Federal Savings Bank, which has six offices in the Chicago area.
 -0- 4/20/93
 /CONTACT: Cynthia A. Wind, investor/public relations of TCF, 612-370-7390/
 (TCB RSLA)


CO: TCF Financial Corporation; Republic Capital Group, Inc. ST: Minnesota, Wisconsin IN: FIN SU: TNM

AL -- MN004 -- 8355 04/20/93 18:15 EDT
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Publication:PR Newswire
Date:Apr 20, 1993
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