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TCF Announces Sale of Consumer Finance Automobile Portfolio

9 September 1999

TCF Announces Sale of Consumer Finance Automobile Portfolio

    MINNEAPOLIS, Sept. 9 -- TCF Financial Corporation (TCF)
announced today that it has agreed to sell substantially all of
its remaining sub-prime indirect automobile loan portfolio and the related
closing of its Florida collection center.
    "Net charge-offs in TCF's sub-prime automobile loan portfolio represented
almost 90 percent of TCF's net charge-offs in the first half of 1999," said
TCF Chairman and Chief Executive Officer William A. Cooper.  "I am pleased
with this sale and look forward to putting this unprofitable business behind
us." At the end of 1998, TCF announced the discontinuation of its indirect
automobile lending business due to unacceptable returns and loan losses, and
sold a portion of this portfolio in the second quarter of 1999.
    This sale of approximately $90 million of loans is expected to close in
September and will have an immaterial impact on TCF's third-quarter results.
    TCF is a $10.3 billion national bank holding company based in Minneapolis.
TCF's banks are based in Minnesota, Illinois, Wisconsin, and Colorado as TCF
National Bank, and in Michigan as Great Lakes National Bank.  Other TCF
affiliates include business-equipment leasing, mortgage banking, title
insurance, and annuity and mutual fund sales companies.