M&A Deal Summary

TCF Acquires Northwestern Bancorp

On October 31, 2014, TCF acquired financial services company Northwestern Bancorp for 120M USD

Acquisition Highlights
  • This is TCF’s 9th transaction in the Financial Services sector.
  • This is TCF’s 4th largest (disclosed) transaction.
  • This is TCF’s 9th transaction in the United States.
  • This is TCF’s 8th transaction in Michigan.

M&A Deal Summary

Date 2014-10-31
Target Northwestern Bancorp
Sector Financial Services
Buyer(s) TCF
Deal Type Add-on Acquisition
Deal Value 120M USD
Advisor(s) Sandler O'Neill + Partners (Financial)
Silver Freedman Taff & Tiernan (Legal)

Target

Northwestern Bancorp

Traverse City, Michigan, United States
Northwestern Bancorp, Inc. is a provider of financial services.

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Buyer(S) 1

Buyer

TCF

Detroit, Minnesota, United States

Category Company
Founded 1923
Sector Financial Services
Employees7,254
Revenue 1.7B USD (2019)
DESCRIPTION

TCF Financial Corp. is a national bank holding company. TCF has 400+ branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona, and South Dakota, providing retail and commercial banking services. TCF Financial was founded in 1923 and is based in Detroit, Michigan.


DEAL STATS #
Overall 9 of 13
Sector (Financial Services) 9 of 13
Type (Add-on Acquisition) 9 of 13
State (Michigan) 8 of 11
Country (United States) 9 of 13
Year (2014) 1 of 1
Size (of disclosed) 4 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-01 Gateway One Lending & Finance

Anaheim, California, United States

Gateway One Lending & Finance LLC is a Specialty finance business providing auto loans to consumers.partnered with experienced industry veterans and funded a management team to recreate previous success.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-01 Monarch Community Bancorp

Coldwater, Michigan, United States

Monarch Community Bancorp, Inc. is a provider of full range of banking services.

Buy $26M