MINNEAPOLIS (WCCO) — TCF Bank is closing its bank in downtown Minneapolis and 37 other branches in Chicago.
In a release on Wednesday, the corporation announced its plan to consolidate, saying it’s so the company can grow in different ways.
TCF Bank will close the branches and move more support to online and mobile banking, new products and services and expand where it has ATM locations.
The full transition of these closures will be completed by March of 2014.
The changes will result in TCF incurring a one-time pre-tax earning of approximately $7.6 million in the company’s fourth quarter.
The company has nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota.