TCF Financial Corp. has a new president.
Craig Dahl, a vice chairman and 16-year veteran of the bank company, was promoted this week to the position. His new responsibilities will include retail banking and IT. He will continue to report to chairman and chief executive William Cooper.
Dahl's promotion comes at a time when the Wayzata firm, which runs Minnesota's third-largest bank by deposits and employs 3,000 people in the state, is reaping the benefits of a 2012 shift in strategy. It diversified from its traditional reliance on consumer banking to add a national auto finance business and some specialty lending operations.
Dahl has been responsible for the national lending businesses and has grown them into a key revenue and profit growth driver, Cooper said. He has led the company's commercial banking and consumer real estate businesses, and has been instrumental in recruiting and developing several TCF executives.
"Craig's progression of responsibility at TCF demonstrates our commitment to growing and developing strong executives who provide the continuity and background necessary to lead the organization forward," Cooper said in a statement. "TCF's Board has full confidence in Craig and the entire executive leadership team to execute our vision for the company and drive significant shareholder value for years to come."
Dahl joined TCF in 1999 as president and chief executive of TCF Equipment Finance, Inc. He later was named president and chief executive of Winthrop Resources Corporation. Prior to joining TCF, Dahl held a number of leadership positions with Norwest and then Wells Fargo. He holds a bachelor's degree in political economics from Princeton University and is a native of International Falls, Minn.
TCF had $19.4 billion in total assets and 379 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota and Indiana, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada.
The company's 2014 profit was $174 million, a 14.8 percent rise compared with 2013. The company's annual stockholders meeting will be April 22 in St. Louis Park.
Adam Belz • 612-673-4405 Twitter: @adambelz
