SymbolPriceChangeJPM31.89+0.29TCB10.53+0.16{“s” : “jpm,tcb”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”}

Yesterday, TCF National Bank, a wholly-owned subsidiary of Minnesota-based TCF Financial Corporation (NYSE: TCB – News) announced its plan to acquire Gateway One Lending Finance, LLC. TCF signed a definitive agreement for the acquisition, which is anticipated to be completed by the end of 2011, subject to customary closing conditions.

California-based Gateway One is a private lending company in the indirect auto finance market. The company is working with more than 3,100 active dealer relationships and originates loans to consumers in 30 states. As of September 30, 2011, the company had originated $214 million in auto loans and has a managed portfolio of $406 million.

As part of the deal, TCF will retain Gateway One’s experienced executive management team. J.P. Morgan Securities LLC, a division of JPMorgan Chase Co., (NYSE: JPM – News) is serving as private financial advisor to TCF, while Morgan Keegan Company Inc. is acting as financial advisor to Gateway One.

TCF Financial has a past track record of acquiring, assimilating and operating specialty finance businesses nationwide. With the acquisition of Gateway One, TCF Financial will be able to diversify its business and provide plenty of growth opportunities in the large U.S. auto lending market.

The company will be able to further grow high quality assets with solid risk-adjusted returns with the help of national specialty finance lending programs. Moreover, TCF Financial will have new revenue source and opportunities for balance sheet growth in the current challenging economic environment.

On the other hand, Gateway One is hoping to utilize financial capabilities of TCF Financial for pursuing growth opportunities. Moreover, dealers, customers and employees of Gateway One will even get the benefit of the financial strength of TCF Financial.

Estimate Revision Trends

TCF Financial is expected to release its third-quarter 2011 earnings on October 20, 2011. Over the last 30 days, 1 out of the 16 analysts covering TCF Financial has lowered the estimate for the second quarter, while none moved in the opposite direction. Furthermore, for 2011, 1 out of the 17 analysts has lowered the estimate, while two upward revisions were witnessed over the last 30 days.

Currently, the Zacks Consensus Estimate for the third quarter is operating earnings of 21 cents per share, a decline of 19.71% from the year-ago quarter. Moreover, the Zacks Consensus Estimate for 2011 is operating earnings of 78 cents per share, down 25.38% from the prior year.

Furthermore, over the last 30 days, operating earnings estimate for the third quarter and 2011 have remained stable.

Our Take

We expect TCF Financial to maintain its superior position in the market based on its positive approach to market conditions and grasping growth opportunities. However, the regulatory reform and low interest rate environment might affect the company’s near-term results to some extent.

TCF Financial currently retains a Zacks #3 Rank, which translates into a short-term Hold rating.

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WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) will announce its third
quarter 2011 earnings after the close of market on Thursday, November 3,
2011. The third quarter earnings release and financial supplement will
be posted on the FBL Financial Group website (www.fblfinancial.com)
at that time.

FBL Financial Group will hold a conference call to discuss third quarter
2011 earnings on Friday, November 4, 2011 at 11:00 a.m. ET. The
conference call will be webcast live on the Internet. Investors and
interested parties who wish to listen to the call on the Internet may do
so at www.fblfinancial.com.

The call may also be accessed by telephone at (877) 280-7291. A
transcript of the prepared comments from the call, as well as an audio
replay, will be available shortly after the call on FBL Financial
Group’s website. An audio replay will also be available via telephone
through November 11, 2011 by calling (800) 642-1687 or (706) 645-9291
and inputting code 34020776 when prompted.

FBL Financial Group is a holding company whose primary operating
subsidiaries are Farm Bureau Life Insurance Company and EquiTrust Life
Insurance Company. FBL Financial Group underwrites, markets and
distributes life insurance and annuities to individuals and small
businesses. In addition, FBL Financial Group manages all aspects of two
Farm Bureau affiliated property-casualty insurance companies for a
management fee. For more information, please visit www.fblfinancial.com.

FFG-1

The Business Finance Store looks at some of the industries that should keep an eye out for new hires while advising others to cut their losses in light of new Labor Department statistics.

Fountain Valley, CA (PRWEB) October 12, 2011

Recently, the Labor Department announced that the number of people who applied for unemployment increased 6,000 per week to 401,000. While the numbers show lower unemployment than in 2010, it still means unemployment is much higher than it would be in a healthy economy. The question for small businesses is whether they should be hiring or firing in during these times. In the recent blog post “Unemployment Rates Increased Last Week: Should You Hire or Fire?,” the Business Finance Store looks at some of the industries that should keep an eye out for new hires while advising others to cut their losses.

The economy seems to only be improving modestly, at best. Despite this uninspiring news, businesses need to be prepared to make difficult choices to keep themselves running. With the help of the Business Finance Store, business owners will be able to analyze whether or not hiring or firing is a good idea at this point. Read more about whether businesses should hire or fire at the Business Finance Store blog.

The Business Finance Store is a business financing and consulting firm that offers customized Business Financial Solutions. Seasoned professionals offer assistance in a variety of financial solutions to help small businesses succeed such as: Business Financial Solutions, Legal Solutions, and Accounting Solutions.

The staff at The Business Finance Store understand that starting and growing a business is an exciting time. They keep it exciting by taking care of some of the most difficult aspects, by providing legal advice, helping with vital responsibilities like accounting bookkeeping, and by obtaining business finance. They can quickly and easily guide entrepreneurs through many different complicated processes, and put them on the path to success.

For 10 years The Business Finance Store has been helping startups and other small businesses legally structure their companies, find the right franchises, get the funding they need, and to achieve the American Dream of owning their own successful business. Since expanding nationwide in 2007 they have helped thousands of companies and have funded over $60 Million in business credit lines, not including SBA loans. The Business Finance Store sees limitless potential in the current climate, and looks forward to many strong years of growth to come. Take some time to review their services, and give them a call.

For more information, or a free, no-obligation analysis of your business needs, visit The Business Finance Store, visit http:// www.businessfinancestore.com. A member of their professional staff will contact you to discuss your business’ short and long-term goals. Whatever you need, The Business Finance Store is there.

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For the original version on PRWeb visit: www.prweb.com/releases/prweb2011/10/prweb8871461.htm