M&A Deal Summary

TCF Acquires O.A.K. Financial

On April 30, 2010, TCF acquired financial services company O.A.K. Financial for 77M USD

Acquisition Highlights
  • This is TCF’s 7th transaction in the Financial Services sector.
  • This is TCF’s 5th largest (disclosed) transaction.
  • This is TCF’s 7th transaction in the United States.
  • This is TCF’s 7th transaction in Michigan.

M&A Deal Summary
Date 2010-04-30
Target O.A.K. Financial
Sector Financial Services
Buyer(s) TCF
Deal Type Add-on Acquisition
Deal Value 77M USD
Advisor(s) Donnelly Penman & Partners (Financial)
Varnum (Legal)

Target

O.A.K. Financial

Byron Center, Michigan, United States
O.A.K. Financial Corp. is a provider of full range of personal and commercial banking 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 7 of 13
Sector (Financial Services) 7 of 13
Type (Add-on Acquisition) 7 of 13
State (Michigan) 7 of 11
Country (United States) 7 of 13
Year (2010) 1 of 1
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-12-01 Caledonia Financial

Caledonia, Michigan, United States

Caledonia Financial Corp. is a provider of banking services through four offices located in Kent, Kalamazoo and Barry counties in Michigan.

Buy $54M
FOLLOWING 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 -
Mergr

Product

Company

Legal