TCF Financial Corp. said it has signed a letter of intent to acquire Winthrop Resources Corp., a specialized high-tech equipment leasing company, in a stock transaction valued at $326 million.

The deal would be the highest-priced one to date for TCF, a $7.1 billion-asset Minneapolis thrift company that is converting to a commercial bank. The acquisition of Winthrop, also of Minneapolis, helps diversify TCF, creating a potentially lucrative new line of business.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.