Thursday, January 9, 2020

Alaska USA to Acquire 7 Arizona Branches from TCF Bank

Alaska USA Federal Credit Union (Anchorage, AK) and TCF National Bank, a subsidiary of TCF Financial Corporation (Wayzata, MN), announced on January 8 that Alaska USA has signed a definitive agreement to acquire TCF Bank’s seven branches located in the greater Phoenix, Arizona market, along with deposits and certain related assets.

As of June 30, 2019, TCF Bank's 7 Arizona branches had $191.5 million in deposits.

Also as part of the agreement, Alaska USA will extend employment offers to all TCF Bank team members who work at the seven branches.

Financial terms of the agreement were not disclosed, and the transaction is expected to close in the second quarter of 2020.

Read press release.
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