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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 20, 1997
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TCF Financial Corporation
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-16431 41-1591444
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Commission File Number (IRS Employer Identification No.)
801 Marquette Avenue, Suite 302, Minneapolis, Minnesota 55402
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(Address of principal executive offices)
(612) 661-6500
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Registrant's Telephone Number
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Item 5. OTHER EVENTS
On October 20, 1997, TCF Financial Corporation announced that its board of
directors declared a two-for-one stock split in the form of a 100 percent stock
dividend payable November 28, 1997 to shareholders of record as of November 7,
1997. TCF Financial Corporation also declared its regular quarterly cash
dividend of 25 cents per common share on October 20, 1997, to be paid November
28, 1997, prior to the stock split.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
99.1 Press release dated October 20, 1997.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: October 27, 1997
TCF FINANCIAL CORPORATION
By /s/ Ronald J. Palmer
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Ronald J. Palmer
Its Treasurer and Chief Financial Officer
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Contact: Kelley A. Welf
Corporate Communications
(612) 475-7939
FOR IMMEDIATE RELEASE
TCF DECLARES TWO-FOR-ONE STOCK SPLIT
AND QUARTERLY CASH DIVIDEND
MINNEAPOLIS, Oct. 20, 1997 -- TCF Financial Corporation (TCF) (NYSE:TCB)
announced that its board of directors today declared a two-for-one stock split
and a regular quarterly cash dividend.
The stock split is in the form of a 100 percent stock dividend payable Nov.
28 to shareholders of record as of Nov. 7. TCF has 46.3 million outstanding
common shares, which will increase as a result of the stock split to
approximately 92.7 million shares.
"TCF's stock price has doubled since our initial stock split two years
ago," said William A. Cooper, TCF chairman and chief executive officer. "We
believe that moving the shares into a trading range that is more accessible to a
wider range of investors will increase the stock's liquidity and marketability."
TCF declared its regular quarterly cash dividend of 25 cents per common
share, payable Nov. 28 (on a pre-split basis) to shareholders of record at the
close of business on Nov. 7.
TCF is a $9.8 billion national bank holding company based in Minneapolis.
Its bank subsidiaries operate in Minnesota, Illinois, Wisconsin and Colorado as
TCF National Bank, and in Michigan as Great Lakes National Bank. Other TCF
affiliates include business-equipment leasing, consumer finance, mortgage
banking, title insurance, annuity and mutual fund sales companies. TCF's common
stock is listed on the New York Stock Exchange under the symbol TCB.
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