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TCF Reports 66th Consecutive Quarter of Net Income – Earns $31.7 Million

Company Release - 10/20/2011 8:00 AM ET

THIRD QUARTER HIGHLIGHTS

  • Diluted earnings per common share of 20 cents
  • Net income of $31.7 million
  • Net interest margin of 3.96 percent
  • Average deposits increased $113.3 million from the second quarter of 2011
  • Non-performing assets declined $20.1 million from the second quarter of 2011
  • Announced quarterly cash dividend of 5 cents per common share, payable November 30, 2011

WAYZATA, Minn.--(BUSINESS WIRE)-- TCF Financial Corporation (NYSE: TCB):

         
Earnings Summary       Table 1
($ in thousands, except per-share data)       Percent Change  

3Q
2011

 

2Q
2011

 

3Q
2010

 

3Q11 vs
2Q11

 

3Q11 vs
3Q10

 

YTD
2011

 

YTD
2010

 

Percent
Change

Net income $31,717 $29,837   $36,893 6.3 %   (14.0 )% $91,240   $115,839   (21.2 )%
Diluted earnings per common share .20 .19 .26 5.3 (23.1 ) .59 .84 (29.8 )
 

Financial Ratios (1)

Return on average assets .69 % .67 % .84 % .68 % .87 %
Return on average common equity 7.00 6.86 9.95 7.20 11.11
Net interest margin 3.96 4.02 4.14 4.01 4.18
Net charge-offs as a percentage of 1.48 1.19 1.58 1.39 1.37
average loans and leases