TCF National Bank (TCF Bank) has agreed to acquire Rubicon Mortgage Advisors, a residential mortgage lender, for an undisclosed sum.

Founded in 2006, Rubicon has licences to operate in South Dakota, Wisconsin, Colorado and California. The company employs 34 people in its Minnesota and North Dakota offices.

All Rubicon staff will join TCF Bank following the closing of the deal, which is expected to happen before the end of the calendar year 2017.

TCF Bank executive vice president of consumer banking Michael Jones said: “The experienced and knowledgeable team at Rubicon Mortgage Advisors, combined with its complementary geographic footprint to TCF Bank, enables us to increase our scale and reach for these products. Together with our current mortgage lending professionals, our customers will benefit from an outstanding team with deep lending experience and mortgage industry relationships.”

Rubicon Mortgage Advisors president Brian Call added: “Our team of experienced mortgage lending professionals will benefit from having the backing of a strong, well-capitalized bank and the opportunity to provide expanded services to TCF Bank’s large customer base. We look forward to integrating our origination capabilities with TCF Bank’s existing team of professionals and working together to expand home mortgage lending in the markets we collectively serve.”

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