TCF National Bank division acquires BB&T Commercial Equipment Capital

TCF Capital Solutions, a division of Sioux Falls, S.D.-based TCF National Bank, has acquired BB&T Commercial Equipment Capital Corp.

BB&T Commercial Equipment Capital, which includes a portfolio of approximately $1 billion of equipment finance leases and loans, was Truist Bank's national small-ticket equipment leasing and finance business.

As part of the transaction, approximately 60 employees from Truist/BB&T Commercial Equipment Capital have joined the TCF team, according to a news release.

Faegre Drinker Biddle & Reath LLP was legal adviser to TCF, and Davis Polk & Wardwell LLP was legal adviser to Truist. Truist Securities was financial adviser to Truist.

Terms of the deal were not disclosed. TCF National Bank is a unit of TCF Financial Corp.