TCF’s Auto Sector Exit Intensifies Profitability Concerns at Regional Banks

The announcement this week that TCF Bank will shutter its indirect auto finance unit, Gateway One Lending & Finance LLC, caps a year that has been volatile for mid-sized regional banks, according to Peter Winter, analyst at Wedbush Securities. “Most banks are surprised how long the credit cycle has lasted for the [mid-tier] bank group,” […]
  • William Hoffman
  • December 6, 2017

TCF Bank Issues First-Ever ABS

Minnesota-based TCF Bank announced its first-ever issuance of asset-back securities (TCFAT 2014-1) this week. Standard & Poors published a presale for the securitization, which will total $200 million and be backed with prime loans. TCFB’s indirect auto loans are available in 48 states. In November 2011, TCF National Bank finalized its acquisition of Gateway One […]
  • Philip Ryan
  • July 28, 2014