TCF Financial in Minnesota Names New President, Possible CEO Successor
Banks can't live with commercial lending and can't live without it these days, two earnings reports Friday showed. First Niagara's commercial loans rose while TCF's fell. But TCF's margin is much higher and fell less sharply than First Niagara's.July 25
TCF Financial in Wayzata, Minn., has a new president.
The $19.4 billion-asset company said in a press release Tuesday that Craig Dahl had taken on the post. Dahl, who had been the companys vice chairman, will continue to report to TCF Chairman and Chief Executive William Cooper.
Cooper, who came out of retirement in 2008 to return to the company, announced last year that he would step down as CEO at the end of this year or "until such time as the board appoints a successor."
A TCF spokesman noted that the company has not had a president in recent history, though he added that the company has not tapped an official successor for Cooper. TCFs board will select Coopers replacement by the end of the year, when his CEO contract expires. Cooper is under contract as chairman through 2017.