TCF Bank headquarters to be in Sioux Falls
TCF National Bank is switching its headquarters from Minneapolis to Sioux Falls, S.D., but no Minnesota jobs will be lost.
Its parent company, Wayzata-based TCF Financial Corp., said Thursday the change will be effective April 1. TCF is opening its first branch in Sioux Falls on March 16, which will employ 10-15 people, and it will be designated as the corporate headquarters for legal purposes.
Spokesman Jason Korstange says the switch is for regulatory simplicity only, and isn't meant to lower its tax bill.
TCF Bank was founded in 1923 in Minneapolis. It employs about 3,000 people and operates more than 450 branches in Colorado, Illinois, Indiana, Michigan, Minnesota, Wisconsin, and Arizona.
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