TCF National Bank, a Minnesota-based depository, announced this week that it has completed its acquisition of Rubicon Mortgage Advisors, a mortgage lender with offices in Minnesota and North Dakota and licenses to operate in South Dakota, Wisconsin, Colorado, and California.
The deal was initially announced in October.
Now that the deal is finalized, TCF Bank will begin marketing its residential mortgage program as TCF Home Loans in the consumer market.
TCF Home Loans will provide residential mortgage lending solutions to customers across TCF Bank’s retail banking footprint, and the additional market of North Dakota that it acquired from Rubicon.
TCF currently has 321 bank branches in Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota, and Wisconsin.
The combined team will by Brian Call, who was named managing director of the business and previously served as president of Rubicon.
“We are excited to welcome the Rubicon team to TCF Bank and introduce the additional scale and capabilities they bring to our newly formed TCF Home Loans business,” said Michael Jones, TCF Bank’s executive vice president of consumer banking.
“Our focus in retail banking continues to be on providing our customers with the products, expertise and service to help them in every stage of their financial life,” Jones added. “As TCF Home Loans, we look forward to broadening the products and services we offer and putting our deep expertise and mortgage industry relationships to work on behalf of customers and consumers.”
Financial terms of the deal were not disclosed.
