TCF Financial To Close Minneapolis Branch 12 Dec 13

MINNEAPOLIS (AP) — TCF Financial Corporation says it will close a downtown Minneapolis branch and 37 located in grocery stores in the Chicago area.

The closings will take place by the end of March.

The Wayzata-based bank company says the move comes after a recent review of its network of branches.

TCF will take a pretax charge of $7.6 million in its fiscal fourth quarter for costs related to closing the units and related job cuts.

The branch slated for closing in downtown Minneapolis is in a four-story building adjacent to TCF Tower, a 17-story building built in 1981. The company will continue to lease offices in both buildings for other operations.

Customers in downtown Minneapolis will still have access to another TCF branch in the IDS Center.