Detroit center to remove name of ex-mayor with racist past
DETROIT (AP) — Detroit's Cobo Center, which hosts the auto show and other major events, is changing its name to remove the surname of a former mayor known for his racist policies, officials...
American Airlines rises, while Caterpillar, Hess, Vale drop
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday:
Caterpillar Inc., down $12.49 to $124.37
The heavy machinery maker's results fell short of Wall Street expectations as the company faces a weaker market in China.
Nvidia Corp., down $22.14 to $138.01
The chipmaker cut its fourth-quarter revenue forecast, citing a slowdown in China.
Versum Materials Inc., up $5.02 to $36.67
The specialty materials maker is being bought by Entegris in a stock-for-stock deal.
Chemical Financial to acquire TCF in $3.6B all-stock deal
DETROIT (AP) — Chemical Financial Corp. plans to acquire TCF Financial Corp. in an all-stock deal worth $3.6 billion that will create a Detroit-based bank with $45 billion in assets.
Chemical Financial and Wayzata, Minnesota-based TCF Financial Corp. announced Monday the signing of an agreement that the companies described as a "merger of equals."
TCF: 4Q Earnings Snapshot
WAYZATA, Minn. (AP) _ TCF Financial Corp. (TCF) on Monday reported fourth-quarter earnings of $85.7 million.
The Wayzata, Minnesota-based bank said it had earnings of 51 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
TCF: 3Q Earnings Snapshot
WAYZATA, Minn. (AP) _ TCF Financial Corp. (TCF) on Monday reported third-quarter earnings of $86.2 million.
The bank, based in Wayzata, Minnesota, said it had earnings of 51 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
TCF: 2Q Earnings Snapshot
WAYZATA, Minn. (AP) _ TCF Financial Corp. (TCF) on Friday reported second-quarter profit of $58.7 million.
The Wayzata, Minnesota-based bank said it had earnings of 34 cents per share. Earnings, adjusted for non-recurring costs, were 49 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
TCF Financial Corp. said Monday its first-quarter profit rose nearly 60 percent as it trimmed expenses and benefited from a lower tax rate.
The company, which runs Minnesota’s third-largest bank after Wells Fargo and U.S. Bank, said its interest income rose 9.5 percent, shaped chiefly by higher rates for both loans and leases the company holds for investment.
TCF Financial chairman dies at age 73
MINNEAPOLIS (AP) — TCF Financial Corp. says Bill Cooper, the chief executive credited with reviving and building the once-failing savings and loan into Minnesota's third-largest bank, has died. He was 73.
Cooper, who died Tuesday, was TCF's chairman and CEO for nearly 30 years. Cooper led the former Twin City Federal Savings and Loan out of the savings and loan crisis in the 1980s. He took it public and rechartered it as a bank that grew to several hundred branches in seven states
Federal watchdog sues TCF Financial over overdraft fees
WASHINGTON (AP) — Federal consumer finance regulators said Thursday they were suing TCF Financial Corp., alleging the bank deceived consumers so it could charge them exorbitant overdraft fees.
Banks' overdraft fee tactics have long been considered predatory by consumer advocates. Such fees, which are charged when customers overspend their bank accounts, largely fall upon lower-income account holders.