TCF Financial Corporation (NYSE:TCB) today announced on behalf of its subsidiary banks that it has lowered its prime rate, sometimes referred to as commercial base rate, to 4.00 percent from 4.50 percent, effective today, October 29, 2008.
TCF is a Wayzata, Minnesota-based national financial holding company with $16.5 billion in total assets. The company has 445 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana and Arizona, providing retail and commercial banking services. TCF also conducts leasing and equipment finance business in all 50 states.