Preferred Stock Channel
Market News Video Self Directed Investor The Warren Buffetts Next Door Stock message boards
TCF Financial Corp | Series A Non-Cumulative Perpetual Preferred Stock (TCB.PRB)

Prospectus excerpt:  TCF Financial Corporation is offering 6,000,000 depositary shares ("depositary shares"), each representing a 1/1,000th interest in a share of Series A Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the "Series A Preferred Stock"). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series A Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary.

Dividends on the Series A Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee thereof, will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, quarterly in arrears on the 1st day of March, June, September and December of each year, commencing on September 1, 2012, at a rate per annum equal to 7.50%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series A Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series A Preferred Stock are declared for any future dividend period.

The Series A Preferred Stock may be redeemed at our option (i) in whole or in part, from time to time, on or after June 25, 2017 or (ii) in whole, but not in part, prior to June 25, 2017 upon the occurrence of a "regulatory capital treatment event," as described herein, in each case at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends for prior dividend periods and accrued but unpaid and undeclared dividends for the then-current dividend period to the redemption date. The Series A Preferred Stock will not have any voting rights, except as set forth under "Description of Series A Preferred Stock—Voting Rights" below.

Full Prospectus PDF », TCB Page »

Alternate symbology:TCB-B, TCB-PB, TCBprB
Call Date:6/25/2017
Shares Offered:6,000,000
Liquidation Preference:$25
Recent Market Price:$26.07
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$1.07 (4.28%)
Annualized Dividend:1.875
Recent Ex-Date:11/10/2016
Current Yield:7.19%
Original Coupon:7.500%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
TCF Financial is a bank holding company. Through its subsidiary, Co. provides retail banking and commercial banking products. Co.'s segments are: Lending, which includes consumer real estate, commercial real estate and business lending, leasing and equipment finance, inventory finance and auto finance; funding, which includes branch banking and treasury services; and support services, which includes corporate functions that provide data processing, bank operations and other professional services to the operating segments. At Dec 31 2015, Co. had total assets of $20.69 billion and total deposits of $16.72 billion.

Preferreds: TCB.PRB, TCB.PRC

Open the TCB Information Page »
Name:  TCF Financial Corp
Sector:  Banking & Savings
Number of ETFs Holding TCB:  50 (see which ones)
Total Market Value Held by ETFs:  $165,984,626
Total Market Capitalization:  $2,461,000,000
% of Market Cap. Held by ETFs:  6.74%

Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game
Quotes delayed 20 minutes

TCF Financial Corp | Series A Non-Cumulative Perpetual Preferred Stock (TCB.PRB) Information Page | Preferred Stock Channel | | Copyright © 2011 - 2016, All Rights Reserved

Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and dividend videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.