CHICAGO - TCF Financial Corp., a Minneapolis-based thrift holding company, is poised to grow in Illinois, said chairman and chief executive officer William Cooper.
"We've got our stock to a point where it is a currency for acquisition, and our capital levels are up to a level where acquisitions make sense," Mr. Cooper said in an interview. He said Illinois, which accounts for 15% of TCF's business, eventually will exceed its Minnesota revenues.
TCF, which has $4 billion in assets, operates 21 lending offices or financial and mortgage outlets in Illinois. Mr. Cooper pointed out that the state, with 2,400 banks and more than 200 thrifts, offers "a lot of candidates" for takeovers.