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Press Release

TCF Reports Record Second Quarter Earnings and EPS -- $.94, up 11 percent --

Company Release - 7/15/2004 8:30 AM ET

WAYZATA, Minn.--(BUSINESS WIRE)--July 15, 2004--TCF Financial Corporation (NYSE:TCB):

    SECOND QUARTER HIGHLIGHTS

    --  Record diluted earnings per share of 94 cents

    --  Record net income of $65.2 million

    --  Record return on average assets of 2.20 percent

    --  Record return on average common equity of 27.68 percent

    --  Average Power Assets(R) increased $1 billion, or 16 percent,
        from 2003

    --  Net loan and lease charge-offs were $2.1 million, or .10
        percent (annualized) of average loans and leases

    --  Average low-cost checking, savings and money market deposits
        increased $285.9 million, or 5 percent, from 2003

    --  Increased checking accounts by 30,241, or 8 percent
        (annualized), to 1,502,856

    --  Opened five new branches during the quarter; 237 new branches
        since January 1998


EARNINGS SUMMARY
($ in thousands, except per-share data)

                         Three Months               Six Months
                        Ended June 30,            Ended June 30,
                   ------------------------ --------------------------
                     2004     2003   Change   2004      2003    Change
                   -------- -------- ------ --------- --------- ------
Net income         $65,218  $60,291   8.2 % $125,879  $120,418   4.5 %
Diluted earnings
 per common share      .94      .85  10.6       1.82      1.68   8.3

Financial Ratios
-----------------
Return on average
 assets               2.20 %   2.04 %           2.15 %    2.02 %
Return on average
 common equity       27.68    25.17            26.82     24.95
Net interest
 margin               4.53     4.45             4.52      4.45

TCF Financial Corporation (TCF) (NYSE:TCB) today reported record diluted earnings per share of 94 cents for the second quarter of 2004, compared with 85 cents for the same period of 2003. Net income for the second quarter of 2004 was a record $65.2 million, compared with $60.3 million for the same period of 2003. For the second quarter of 2004, return on average assets ("ROA") was a record 2.20 percent and return on average common equity ("ROE") was a record 27.68 percent, compared with 2.04 percent and 25.17 percent, respectively, for the second quarter of 2003.

Chairman's Statement

"TCF's excellent earnings in the second quarter (2.20 percent ROA and 27.7 ROE) are the result of our long-term strategy of growing high quality Power Assets(R) and Power Liabilities(R) through new branch and product expansion," said William A. Cooper, Chairman and CEO. "It is now apparent that our decision to defer the acquisition of long-term, low-rate mortgage-backed securities over the past 18 months, incurring the margin compression, was correct. During the second quarter, our Power Asset and Power Liability growth continued, our credit quality was solid and continues to be among the best in the industry and our commitment to new branch expansion was evident with the opening of five new branches and the announcement of plans to open eight new supermarket branches in King Soopers stores in Colorado."

Total Revenue

                                   Three Months
($ in thousands)                  Ended June 30,
                               -------------------
                                 2004      2003     $Change   %Change
                               --------- --------- --------- ---------

Net interest income            $122,419  $119,764   $2,655       2.2 %
                               --------- --------- ---------
Fees and other revenue:
  Fees and service charges       73,116    62,799   10,317      16.4
  Debit card revenue             16,024    14,766    1,258       8.5
  ATM revenue                    11,138    11,242     (104)      (.9)
  Investments and insurance
   commissions                    3,430     3,760     (330)     (8.8)
                               --------- --------- ---------
    Total banking fees and other
     revenue                    103,708    92,567   11,141      12.0
  Leasing and equipment finance  12,245    11,457      788       6.9
  Mortgage banking (1)            4,790    (4,728)   9,518       N.M.
  Other                           1,844     1,707      137       8.0
                               --------- --------- ---------
    Total fees and other
     revenue                    122,587   101,003   21,584      21.4
                               --------- --------- ---------
  Gains on sales of securities
   available for sale                 -    11,695  (11,695)   (100.0)
  Gain on sale of loan servicing    706         -      706     100.0
                               --------- --------- ---------
    Total non-interest income  $123,293  $112,698  $10,595       9.4
                               ========= ========= =========
      Total revenue            $245,712  $232,462  $13,250       5.7
                               ========= ========= =========

Net interest margin                4.53 %    4.45 %
Fees and other revenue as a %
 of total revenue                 49.89     43.45
Fees and other revenue as a %
 of average assets                 4.14      3.42

------------------------------
N.M.  Not meaningful
(1) See "Mortgage Banking" section below for further discussion of
    mortgage banking revenue.

Net Interest Income

TCF's net interest income in the second quarter of 2004 was $122.4 million, up $2.7 million, or 2 percent, from the second quarter of 2003 and up $3.9 million, or 3 percent, from the first quarter of 2004. Net interest margin in the second quarter of 2004 was 4.53 percent, compared with 4.45 percent last year and 4.52 percent in the first quarter of 2004. The increases in net interest income and net interest margin from the second quarter of 2003 primarily reflects the effects of the overall decline in rates on interest-earning assets being less than the decline in rates on interest-bearing liabilities partially driven by the long-term debt terminations in 2003. In addition, average Power Assets(R) increased $1 billion over the second quarter of 2003, while residential real estate loans and mortgage-backed securities ("treasury assets") declined $849.1 million during the same period. The decrease in average treasury assets reflects management's decision to delay investing in long-term fixed-rate treasury assets during the very low interest rate environment. The increase in net interest income and net interest margin in the second quarter from the first quarter of 2004 was primarily driven by a $332.4 million, or 3 percent, increase in interest-earning assets.

Interest Rate Risk

TCF has positioned its balance sheet to benefit from a rising interest rate environment. TCF's one-year interest rate gap (the difference between interest-earning assets and interest-bearing liabilities repricing or maturing within the next twelve months), assuming no change in interest rates, was a positive $1 billion, or 9 percent of total assets, at June 30, 2004, compared with a positive $1.2 billion, or 10 percent of total assets, at March 31, 2004. The one-year interest rate gap is subject to a number of assumptions and is only one of a number of interest rate risk measurements and is best used as a general measure of the effect on net interest income of rising or falling interest rates. The sensitivity of TCF's one-year interest rate gap to assumed changes in interest rates is summarized as follows:

                               June 30, 2004         March 31, 2004
                            --------------------  --------------------
                             One-Year Interest     One-Year Interest
                                  Rate Gap              Rate Gap
                            --------------------  --------------------
($ in millions)                       % of Total            % of Total
                                $        Assets       $        Assets
                            --------- ----------  --------- ----------
Assumed Interest Rates
----------------------
  Increase 50 basis points(a) $1,030        8.6 %  $1,861       15.9 %
  Flat rates as of June 30,
   2004                        1,015        8.5     1,167       10.0
  Decrease 50 basis points(a)    119        1.0     1,303       11.1

------------------------------
(a) Assumes an immediate parallel change in interest rates.

Non-interest Income

Total non-interest income in the second quarter of 2004 was $123.3 million, up $10.6 million, or 9 percent, from the second quarter of 2003. Banking fees and other revenue increased $11.1 million, or 12 percent, as a result of TCF's expanding branch network and customer base, new products and services, and increased fees. Included in banking fees and other revenue are debit card revenues of $16 million, up $1.3 million, or 9 percent, from the second quarter of 2003 as a 19 percent increase in off-line sales volume was partially offset by a 12 percent decline in the average off-line interchange rate. The average off-line interchange rate of 1.44 percent during the second quarter of 2004 was up 12 basis points, or 9 percent, from the first quarter of 2004 primarily due to the new interchange rates established by VISA(R) USA effective February 1, 2004.

Leasing and equipment finance revenues were $12.2 million for the second quarter of 2004, up $788 thousand, or 7 percent, from the 2003 second quarter due primarily to higher sales-type lease revenue. Leasing and equipment finance revenues may fluctuate from quarter to quarter based on customer driven factors not within the control of TCF.

During the 2004 second quarter, TCF completed the sale of servicing rights on $126.6 million of residential mortgages and recognized a $706 thousand gain on the sale of servicing. There were no similar sales of mortgage servicing during the second quarter of 2003. See "Mortgage Banking" below for further discussion of mortgage banking revenues. TCF's second quarter 2003 results included $11.7 million in gains on sales of securities as compared to no gains or losses in the second quarter of 2004.

New Branch Expansion

TCF opened five new branches during the second quarter of 2004, comprised of four new traditional branches and one new supermarket branch. TCF has now opened 237 new branches since January 1998. During the second quarter of 2004, TCF entered into an agreement with the King Soopers grocery chain in Colorado to open eight new branches in King Soopers stores in Denver. TCF plans to open 24 new branches in the remainder of 2004, consisting of 16 traditional branches and eight supermarket branches bringing the total number of new branch openings in 2004 to 33.

                              June 30,       June 30,     December 31,
(# of branches)                 2004           2003           1997
                            ------------   ------------   ------------

Total Branches
--------------
Minnesota                           100             96             75
Illinois                            192            188             47
Wisconsin                            34             34             28
Michigan                             57             53             60
Colorado                             22             15              7
Indiana                               6              5              -
                            ------------   ------------   ------------
                                    411            391            217
                            ============   ============   ============


New Branches(a)
---------------
   Traditional                       48             29
   Supermarket                      189            184
                            ------------   ------------
     Total                          237            213
                            ============   ============
      % of Total Branches            58%            54%
                            ============   ============


------------------------------
(a) New branches opened since January 1, 1998.

Additional information regarding the results of TCF's new branches opened since January 1, 1998 is summarized as follows:

                            At or For the Three
                                Months Ended
                                  June 30,
                          -----------------------
($ in thousands)              2004        2003      Change   % Change
                          ----------- -----------  --------- ---------

Number of checking
 accounts                    539,193     450,646     88,547     19.6 %
Deposits:
  Checking                  $741,731    $544,413   $197,318     36.2
  Savings                    420,979     410,730     10,249      2.5
  Money market                64,233      71,628     (7,395)   (10.3)
                          ----------- -----------  ---------
    Subtotal               1,226,943   1,026,771    200,172     19.5
  Certificates               139,008     144,203     (5,195)    (3.6)
                          ----------- -----------  ---------
    Total deposits        $1,365,951  $1,170,974   $194,977     16.7
                          =========== ===========  =========

Total fees and other
 revenue                     $41,405     $32,823     $8,582     26.1
                          =========== ===========  =========

Power Assets(R)

TCF's Power Asset lending operations continue to generate strong growth. TCF's consumer loan average balances increased $701 million, or 22 percent, and leasing and equipment finance average balances have increased $224.7 million, or 21 percent, from the second quarter of 2003. "Our continued growth in Power Assets was driven by increased originations in all categories during the second quarter," said Cooper. The growth in leasing and equipment finance was aided by the March 2004 acquisition of VGM Leasing Inc., a company specializing in home medical equipment financing, which had approximately $115 million of average leasing and equipment finance balances for the second quarter of 2004.

                     Average Balances for the
                    Three Months Ended June 30,
                    ---------------------------
($ in thousands)         2004          2003       Change     % Change
                    ------------- ------------- ----------- ----------
Loans and leases(a):
  Consumer            $3,904,194    $3,203,226    $700,968      21.9 %
  Commercial real
   estate              1,985,498     1,848,055     137,443       7.4
  Commercial business    428,602       467,368     (38,766)     (8.3)
  Leasing and
   equipment finance   1,285,989     1,061,315     224,674      21.2
                    ------------- ------------- -----------
    Power Assets      $7,604,283    $6,579,964  $1,024,319      15.6
                    ============= ============= ===========

------------------------------
(a) Excludes residential real estate loans and loans held for sale.

Power Liabilities(R)

"We increased our checking account customer base by 30,241 accounts, or 8.2 percent (annualized), in the second quarter of 2004 to 1,502,856, despite continued aggressive competition in all our markets," said Cooper. "Our Totally-Free Checking product remains the catalyst for establishing long-term relationships with our customers." Average Power Liabilities totaled $7.8 billion for the second quarter of 2004, with an average interest rate of .49 percent, down 30 basis points from the same period in 2003. Average checking, savings and money market balances increased $285.9 million, or 5 percent, from 2003 despite a $136.4 million reduction in average custodial checking and savings balances primarily related to the significant decrease in mortgage banking activity. The decline in certificates of deposit continued during the second quarter of 2004, as other lower-cost funding sources were available to TCF.

                    Average Balances and Rates
                               for the
                    Three Months Ended June 30,
                    ---------------------------
($ in thousands)         2004          2003       Change     % Change
                    ------------- -------------  ---------   ---------
Checking              $3,596,808    $3,041,711   $555,097       18.2 %
Savings                1,982,818     2,154,317   (171,499)      (8.0)
Money market             799,485       897,154    (97,669)     (10.9)
                    ------------- -------------  ---------
  Subtotal             6,379,111     6,093,182    285,929        4.7
Certificates           1,467,654     1,825,466   (357,812)     (19.6)
                    ------------- -------------  ---------
  Power Liabilities   $7,846,765    $7,918,648   $(71,883)       (.9)
                    ============= =============  =========

Number of checking
 accounts, period-
 end                   1,502,856     1,391,854   111,002         8.0
Average rate on
 deposits                    .49 %         .79 %     (30) bps    N/A

Residential Real Estate Loans and Securities Available for Sale

Average balances of residential real estate loans and securities available for sale (consisting primarily of mortgage-backed securities) totaled $2.7 billion for the second quarter of 2004, a decrease of $849.1 million from the second quarter of 2003. The decline was the result of the high level of prepayments during 2003 coupled with sales of mortgage-backed securities. At June 30, 2004, the unrealized pre-tax loss on TCF's securities available for sale portfolio was $22.9 million.

           Average Balances for the Three
                     Months Ended                 Change from
         ----------------------------------- ----------------------
($ in
 thou-     June 30,    Mar. 31,    June 30,   Mar. 31,    June 30,
 sands)     2004        2004        2003       2004         2003
         ----------- ----------- ----------- ---------   ----------
Residen-
 tial
 real
 estate
 loans   $1,123,062  $1,193,435  $1,486,518  $(70,373)   $(363,456)
Secur-
 ities
 avail-
 able for
 sale     1,546,694   1,519,374   2,032,384    27,320     (485,690)
         ----------- ----------- ----------- ---------   ----------
  Total  $2,669,756  $2,712,809  $3,518,902  $(43,053)   $(849,146)
         =========== =========== =========== =========   ==========

Yield          5.47 %      5.54 %      5.74 %      (7)bps      (27)bps

Non-interest Expense

Non-interest expense totaled $143.9 million for the 2004 second quarter, up $7 million, or 5 percent, from $136.7 million for the 2003 second quarter. Compensation and employee benefits increased $5.8 million, or 8 percent, from the second quarter of 2003, driven by a $1.6 million increase related to new branches opened in the past 12 months coupled with a $1.2 million increase in incentive compensation resulting from improved profitability. Occupancy and equipment expenses increased $1.9 million, or 9 percent, from the second quarter of 2003, with $1.1 million relating to costs associated with new branch expansion. Deposit account losses increased $1.2 million during the second quarter of 2004 compared with 2003. Other expenses declined $1.7 million, or 6 percent, to $29 million for the second quarter of 2004. Contributing to the decline in other expenses were reductions in real estate owned expense of $1.5 million and mortgage banking expenses of $643 thousand, partially offset by a $1 million impairment charge related to a reduction in the residual value assumption in a leveraged lease investment. Included in real estate owned expenses were net gains on sales and redemptions of properties of $2.1 million during the second quarter of 2004, compared with $92 thousand in 2003.

                                    Three Months Ended
                                         June 30,            Change
                                    -------------------  -------------
($ in thousands)                       2004      2003       $      %
                                    --------- ---------  ------- -----

Compensation and employee benefits   $79,597   $73,807   $5,790   7.8%
Occupancy and equipment               23,397    21,531    1,866   8.7
Advertising and promotions             6,498     6,443       55   0.9
Deposit account losses                 5,350     4,172    1,178  28.2
Other                                 29,064    30,780   (1,716) (5.6)
                                    --------- ---------  -------
     Total non-interest expense     $143,906  $136,733   $7,173   5.2
                                    ========= =========  =======

Credit Quality

At June 30, 2004, TCF's allowance for loan and lease losses totaled $80 million, or .90 percent of loans and leases, compared with $77.7 million, or .96 percent, at June 30, 2003. The provision for credit losses for the second quarter of 2004 was $3.1 million, unchanged from the second quarter of 2003. Net loan and lease charge-offs were $2.1 million, or .10 percent (annualized) of average loans and leases, in the 2004 second quarter, down from $3.2 million, or .16 percent (annualized), for the same period of 2003. "Our emphasis on secured lending has contributed to TCF's continued solid credit quality," said Cooper, "and our credit quality continues to rank among the best in the industry." Leasing and equipment finance had net charge-offs of $1.4 million during the 2004 second quarter, compared with net charge-offs of $2 million for the 2003 second quarter. At June 30, 2004, TCF's over-30-day delinquency rate was .44 percent, up from .40 percent at March 31, 2004. Non-accrual loans and leases were $36.8 million, or .41 percent of net loans and leases, at June 30, 2004, compared with $37 million, or .43 percent, at March 31, 2004. Total non-performing assets were $56.6 million, or .47 percent of total assets, at June 30, 2004, down from $67.5 million, or .58 percent, at March 31, 2004. The reduction in non-performing assets was primarily due to the $10.6 million reduction in other real estate owned, largely due to asset sales, from $30.5 million at March 31, 2004, to $19.9 million at June 30, 2004. During the quarter, TCF downgraded its credit rating on an airline leveraged lease and has classified its $18.8 million investment as substandard. TCF's investment in this leveraged lease is net of $19.2 million of non-recourse debt.

                                 Three Months Ended  Six Months Ended
                                       June 30,          June 30,
                                 ------------------ -----------------
($ in thousands)                    2004     2003     2004     2003
                                 --------- -------- -------- --------
Allowance for loan and lease
 losses:
 Balance at beginning of period   $79,054  $77,813  $76,619  $77,008
  Net (charge-offs) recoveries:
   Consumer                          (719)    (457)  (1,293)  (1,502)
   Commercial real estate              15       20       48       18
   Commercial business                 16     (781)     (57)    (697)
   Leasing and equipment finance   (1,378)  (2,024)  (1,272)  (2,995)
   Residential real estate            (33)      (2)     (41)      27
                                 --------- -------- -------- --------
     Total                         (2,099)  (3,244)  (2,615)  (5,149)
  Provision for credit losses       3,070    3,127    4,230    5,837
  Acquired allowance                    -        -    1,791        -
                                 --------- -------- -------- --------
 Balance at end of period         $80,025  $77,696  $80,025  $77,696
                                 ========= ======== ======== ========

 Key Indicators:
 ---------------
  Allowance for loans and leases
   as a percentage of total loans
   and leases                         .90 %    .96 %    .90 %    .96 %

  Annualized net charge-offs as a
   percentage of average loans and
   leases                             .10 %    .16 %    .06 %    .13 %

  Period-end allowance as a
   multiple of annualized net
   charge-offs                        9.5 X    6.0 X   15.3 X    7.5 X

  Income before income taxes and
   provision for loan losses as a
   multiple of net charge-offs       48.5 X   29.5 X   74.5 X   37.1 X

Mortgage Banking

TCF's mortgage banking operations funded $345.4 million in new loans during the second quarter of 2004, down 65 percent from $990.4 million in the second quarter of 2003, primarily reflecting lower levels of refinance activity. Mortgage banking revenue increased $9.5 million and was $4.8 million in the second quarter of 2004, compared with a negative $4.7 million for the same 2003 period. The increase in mortgage banking revenue was primarily due to a $19.1 million decrease in amortization and impairment of mortgage servicing rights related to lower levels of prepayments, partially offset by an $7.8 million decline in gains on sales of loans. Mortgage applications in process declined to $308.3 million at June 30, 2004, down from $978.8 million at June 30, 2003, as refinance activity has declined as a result of higher mortgage interest rates. TCF's third party servicing portfolio was $4.8 billion at June 30, 2004, a decrease of $524 million, or 10 percent, from June 30, 2003. As mentioned previously, TCF completed the sale of servicing rights on $126.6 million of its servicing portfolio, during the second quarter of 2004, and recorded a $706 thousand gain. At June 30, 2004, the capitalized mortgage servicing rights asset was $51.3 million, or 1.08 percent of the servicing portfolio. The annualized prepayment rate of the third party servicing portfolio was 30 percent during the second quarter of 2004, down from 72 percent during the second quarter of 2003.

                                At June 30,
                          -----------------------
($ in thousands)             2004        2003       Change   % Change
                          ----------- ----------- ---------- ---------

Third-party servicing
 portfolio                $4,767,810  $5,291,774  $(523,964)  (9.9) %
  Weighted average note
   rate                         5.83 %      6.27 %             (44)bps
Mortgage applications in
 process                    $308,377    $978,768  $(670,391) (68.5) %
Mortgage servicing rights    $51,290     $41,379     $9,911   24.0
  - As a percentage of
     servicing portfolio        1.08 %       .78 %              30 bps
  - As a multiple of
     service fees                3.5 X       2.4 X


                                 Three Months Ended
                                      June 30,
                                 ------------------
($ in thousands)                    2004     2003    Change  % Change
                                 --------- -------- -------- ---------

Servicing income                   $4,339   $5,363  $(1,024)   (19.1)%
Less mortgage servicing rights:
 Amortization                       3,242    8,345   (5,103)    (61.2)
 Impairment                             -   14,000  (14,000)   (100.0)
                                 --------- -------- --------
  Subtotal                          3,242   22,345  (19,103)    (85.5)
    Net servicing income (loss)     1,097  (16,982)  18,079       N.M.
Gains on sales of loans             3,168   10,963   (7,795)    (71.1)
Other income                          525    1,291     (766)    (59.3)
                                 --------- -------- --------
    Total mortgage banking         $4,790  $(4,728)  $9,518       N.M.
                                 ========= ======== ========

------------------------------
N.M.  Not meaningful.

Income Taxes

TCF's income tax expense was $33.5 million for the second quarter of 2004, or 33.95 percent of income before income tax expense, compared with $32.3 million, or 34.9 percent, for the comparable 2003 period. The lower effective income tax rate in the second quarter of 2004 was primarily due to increased investments in affordable housing limited partnerships.

Capital

During the second quarter of 2004, TCF National Bank issued $75 million of subordinated notes due 2014. The notes bear interest at a fixed rate of 5.00% for the first five years and will reprice quarterly thereafter at the three-month LIBOR rate plus 1.63%. The notes will qualify as Tier 2 or supplemental capital for regulatory purposes, subject to certain limitations. TCF National Bank paid the proceeds from the offering to TCF Financial Corporation to be used for general corporate purposes, which may include repurchases in the open market of TCF common stock.

During the second quarter of 2004, TCF repurchased 740,000 shares of its common stock at an average cost of $54.33 share. TCF has 3 million shares remaining in its stock repurchase program authorized by its Board of Directors. Since 1997, TCF has repurchased 25.9 million shares of its stock, at an average cost of $33.94 per share.

($ in thousands, except per-share   At June 30,       At December 31,
 data)                                 2004                2003
                                 ----------------   ------------------

Stockholders' equity             $939,152           $920,858
Stockholders' equity to total
 assets                              7.86 %             8.14 %
Book value per common share        $13.46             $13.07

Total risk-based capital         $951,626   11.42 % $841,982   10.73 %
Total risk-based capital "well-
 capitalized" requirement        $832,978   10.00 % $784,562   10.00 %
Excess risk-based capital over
 "well-capitalized" requirement  $118,648    1.42 %  $57,420     .73 %

Website Information

A live webcast of TCF's conference call to discuss second quarter earnings will be hosted at TCF's website, www.tcfexpress.com, on July 15, 2004 at 10:00 a.m., CDT. Additionally, the webcast is available for replay at TCF's website after the conference call. The website also includes free access to company news releases, TCF's annual report, quarterly reports, investor presentations and SEC filings.

----------------------------------------------------------------------

TCF is a Wayzata, Minnesota-based national financial holding company with $11.9 billion in assets. TCF has 411 banking offices in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana. Other TCF affiliates provide leasing and equipment finance, mortgage banking, brokerage, and investments and insurance sales.

----------------------------------------------------------------------

Forward-looking Information

This earnings release and other reports issued by the Company, including reports filed with the SEC, may contain "forward-looking" statements that deal with future results, plans or performance. In addition, TCF's management may make such statements orally to the media, or to securities analysts, investors or others. Forward-looking statements deal with matters that do not relate strictly to historical facts. TCF's future results may differ materially from historical performance and forward-looking statements about TCF's expected financial results or other plans are subject to a number of risks and uncertainties. These include but are not limited to possible legislative changes and adverse economic, business and competitive developments such as shrinking interest margins; deposit outflows; ability to increase the number of checking accounts and the possibility that deposit account losses (fraudulent checks, etc.) may increase; reduced demand for financial services and loan and lease products; adverse developments affecting TCF's supermarket banking relationships or any of the supermarket chains in which TCF maintains supermarket branches; changes in accounting policies and guidelines, or monetary, fiscal or tax policies of the federal or state governments; changes in credit and other risks posed by TCF's loan, lease and investment portfolios, including declines in commercial or residential real estate values; technological, computer-related or operational difficulties; adverse changes in securities markets; the risk that TCF could be unable to effectively manage the volatility of its mortgage banking business, which could adversely affect earnings; and results of litigation or other significant uncertainties. Investors should consult TCF's Annual Report to Shareholders and reports on Forms 10-K, 10-Q and 8-K for additional important information about the Company.

              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF INCOME
                (In thousands, except per-share data)
                             (Unaudited)


                               Three Months Ended
                                    June 30,
                               -------------------
                                 2004      2003    $ Change % Change
                               --------- --------- -------- ---------
Interest income:
  Loans and leases             $128,141  $129,554  $(1,413)     (1.1)%
  Securities available for sale  20,413    27,483   (7,070)    (25.7)
  Loans held for sale             3,340     5,788   (2,448)    (42.3)
  Investments                       895     1,179     (284)    (24.1)
                               --------- --------- --------
     Total interest income      152,789   164,004  (11,215)     (6.8)
                               --------- --------- --------
Interest expense:
  Deposits                        9,474    15,512   (6,038)    (38.9)
  Borrowings                     20,896    28,728   (7,832)    (27.3)
                               --------- --------- --------
     Total interest expense      30,370    44,240  (13,870)    (31.4)
                               --------- --------- --------
       Net interest income      122,419   119,764    2,655       2.2
Provision for credit losses       3,070     3,127      (57)     (1.8)
                               --------- --------- --------
     Net interest income after
      provision for credit
      losses                    119,349   116,637    2,712       2.3
                               --------- --------- --------
Non-interest income:
  Fees and service charges       73,116    62,799   10,317      16.4
  Debit card revenue             16,024    14,766    1,258       8.5
  ATM revenue                    11,138    11,242     (104)      (.9)
  Investments and insurance
   commissions                    3,430     3,760     (330)     (8.8)
                               --------- --------- --------
     Subtotal                   103,708    92,567   11,141      12.0
  Leasing and equipment finance  12,245    11,457      788       6.9
  Mortgage banking                4,790    (4,728)   9,518       N.M.
  Other                           1,844     1,707      137       8.0
                               --------- --------- --------
     Fees and other revenue     122,587   101,003   21,584      21.4
                               --------- --------- --------
  Gains on sales of securities
   available for sale                 -    11,695  (11,695)      N.M.
  Gain on sale of loan
   servicing                        706         -      706       N.M.
                               --------- --------- --------
     Other non-interest income      706    11,695  (10,989)    (94.0)
                               --------- --------- --------
       Total non-interest
        income                  123,293   112,698   10,595       9.4
                               --------- --------- --------
Non-interest expense:
  Compensation and employee
   benefits                      79,597    73,807    5,790       7.8
  Occupancy and equipment        23,397    21,531    1,866       8.7
  Advertising and promotions      6,498     6,443       55        .9
  Other                          34,414    34,952     (538)     (1.5)
                               --------- --------- --------
     Total non-interest expense 143,906   136,733    7,173       5.2
                               --------- --------- --------
       Income before income tax
        expense                  98,736    92,602    6,134       6.6
Income tax expense               33,518    32,311    1,207       3.7
                               --------- --------- --------
       Net income               $65,218   $60,291   $4,927       8.2
                               ========= ========= ========

Net income per common share:
  Basic                            $.95      $.85     $.10      11.8
                               ========= ========= ========
  Diluted                          $.94      $.85     $.09      10.6
                               ========= ========= ========

Dividends declared per common
 share                            $.375     $.325    $.050      15.4
                               ========= ========= ========

Average common and common
 equivalent shares outstanding
 (in thousands):
     Basic                       68,752    70,779   (2,027)     (2.9)
                               ========= ========= ========
     Diluted                     69,064    71,010   (1,946)     (2.7)
                               ========= ========= ========

------------------------------
N.M.  Not meaningful.



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF INCOME
            (Dollars in thousands, except per-share data)
                             (Unaudited)


                                Six Months Ended
                                    June 30,
                               -------------------
                                 2004      2003    $ Change % Change
                               --------- --------- -------- ---------
Interest income:
  Loans and leases             $253,414  $261,275  $(7,861)     (3.0)%
  Securities available for sale  40,745    61,247  (20,502)    (33.5)
  Loans held for sale             6,181    11,014   (4,833)    (43.9)
  Investments                     1,668     2,582     (914)    (35.4)
                               --------- --------- --------
    Total interest income       302,008   336,118  (34,110)    (10.1)
                               --------- --------- --------
Interest expense:
  Deposits                       20,013    33,989  (13,976)    (41.1)
  Borrowings                     41,083    59,953  (18,870)    (31.5)
                               --------- --------- --------
    Total interest expense       61,096    93,942  (32,846)    (35.0)
                               --------- --------- --------
       Net interest income      240,912   242,176   (1,264)      (.5)
Provision for credit losses       4,230     5,837   (1,607)    (27.5)
                               --------- --------- --------
    Net interest income after
     provision for credit
     losses                     236,682   236,339      343        .1
                               --------- --------- --------
Non-interest income:
  Fees and service charges      132,775   117,213   15,562      13.3
  Debit card revenue             29,515    27,999    1,516       5.4
  ATM revenue                    21,135    21,657     (522)     (2.4)
  Investments and insurance
   commissions                    6,892     7,280     (388)     (5.3)
                               --------- --------- --------
    Subtotal                    190,317   174,149   16,168       9.3
  Leasing and equipment finance  22,412    25,064   (2,652)    (10.6)
  Mortgage banking                8,245    (5,158)  13,403       N.M.
  Other                           4,072     3,783      289       7.6
                               --------- --------- --------
    Fees and other revenue      225,046   197,838   27,208      13.8
                               --------- --------- --------
  Gains on sales of securities
   available for sale            12,717    32,832  (20,115)    (61.3)
  Gains (losses) on termination
   of debt                            -    (6,576)   6,576       N.M.
  Gain on sale of loan
   servicing                        706         -      706       N.M.
                               --------- --------- --------
    Other non-interest income    13,423    26,256  (12,833)    (48.9)
                               --------- --------- --------
       Total non-interest
        income                  238,469   224,094   14,375       6.4
                               --------- --------- --------
Non-interest expense:
  Compensation and employee
   benefits                     158,476   150,406    8,070       5.4
  Occupancy and equipment        46,887    43,130    3,757       8.7
  Advertising and promotions     12,408    12,796     (388)     (3.0)
  Other                          66,841    69,151   (2,310)     (3.3)
                               --------- --------- --------
    Total non-interest expense  284,612   275,483    9,129       3.3
                               --------- --------- --------
       Income before income tax
        expense                 190,539   184,950    5,589       3.0
Income tax expense               64,660    64,532      128        .2
                               --------- --------- --------
       Net income              $125,879  $120,418   $5,461       4.5
                               ========= ========= ========

Net income per common share:
  Basic                           $1.83     $1.69     $.14       8.3
                               ========= ========= ========
  Diluted                         $1.82     $1.68     $.14       8.3
                               ========= ========= ========

Dividends declared per common
 share                             $.75      $.65     $.10      15.4
                               ========= ========= ========

Average common and common
 equivalent shares outstanding
 (in thousands):
    Basic                        68,871    71,400   (2,529)     (3.5)
                               ========= ========= ========
    Diluted                      69,170    71,649   (2,479)     (3.5)
                               ========= ========= ========

------------------------------
N.M.  Not meaningful.



             TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
           CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
            (Dollars in thousands, except per-share data)
                             (Unaudited)


                                                        % Change from
                                                        -------------
                      At           At           At       Dec.   June
                   June 30,     Dec. 31,     June 30,    31,    30,
                     2004         2003         2003      2003   2003
                 ------------ ------------ ------------ ------ ------

ASSETS

Cash and due from
 banks           $   357,227  $   370,054  $   419,228   (3.5)%(14.8)%
Investments           94,567       75,223      123,102   25.7  (23.2)
Securities
 available for
 sale              1,588,372    1,533,288    1,980,830    3.6  (19.8)
Loans held for
 sale                359,387      335,372      577,367    7.2  (37.8)
Loans and leases:
 Consumer          4,024,994    3,630,341    3,299,688   10.9   22.0
 Commercial real
  estate           1,997,449    1,916,701    1,850,958    4.2    7.9
 Commercial
  business           445,314      427,696      475,299    4.1   (6.3)
 Leasing and
  equipment
  finance          1,309,164    1,160,397    1,079,224   12.8   21.3
                 ------------ ------------ ------------
  Subtotal         7,776,921    7,135,135    6,705,169    9.0   16.0
 Residential real
  estate           1,091,678    1,212,643    1,393,183  (10.0) (21.6)
                 ------------ ------------ ------------
  Total loans and
   leases          8,868,599    8,347,778    8,098,352    6.2    9.5
  Allowance for
   loan and lease
   losses            (80,025)     (76,619)     (77,696)   4.4    3.0
                 ------------ ------------ ------------
   Net loans and
    leases         8,788,574    8,271,159    8,020,656    6.3    9.6
Premises and
 equipment           305,052      282,193      258,171    8.1   18.2
Goodwill             152,599      145,462      145,462    4.9    4.9
Deposit base
 intangibles           5,076        5,907        6,740  (14.1) (24.7)
Mortgage
 servicing rights     51,290       52,036       41,379   (1.4)  24.0
Other assets         240,719      248,321      234,829   (3.1)   2.5
                 ------------ ------------ ------------
                 $11,942,863  $11,319,015  $11,807,764    5.5    1.1
                 ============ ============ ============

LIABILITIES AND
 STOCKHOLDERS' EQUITY

Deposits:
 Checking        $ 3,607,692  $ 3,248,412  $ 3,194,545   11.1   12.9
 Savings           1,945,675    1,905,923    2,131,510    2.1   (8.7)
 Money market        768,394      845,291      908,392   (9.1) (15.4)
                 ------------ ------------ ------------
  Subtotal         6,321,761    5,999,626    6,234,447    5.4    1.4
 Certificates of
  deposit          1,439,896    1,612,123    1,745,290  (10.7) (17.5)
                 ------------ ------------ ------------
  Total deposits   7,761,657    7,611,749    7,979,737    2.0   (2.7)
                 ------------ ------------ ------------
Short-term
 borrowings          869,576      878,412      546,118   (1.0)  59.2
Long-term
 borrowings        2,065,870    1,536,413    1,959,921   34.5    5.4
                 ------------ ------------ ------------
  Total
   borrowings      2,935,446    2,414,825    2,506,039   21.6   17.1
Accrued expenses
 and other
 liabilities         306,608      371,583      369,919  (17.5) (17.1)
                 ------------ ------------ ------------
  Total
   liabilities    11,003,711   10,398,157   10,855,695    5.8    1.4
                 ------------ ------------ ------------
Stockholders'
 equity:
 Preferred stock,
  par value $.01
  per share,
  30,000,000 shares
  authorized;
  none issued or
  outstanding              -            -            -      -      -
 Common stock,
  par value $.01
  per share,
  280,000,000 shares
  authorized;
  92,495,974;
  92,513,355 and
  92,536,817
  shares issued          925          925          925      -      -
 Additional paid-in
  capital            517,538      518,878      517,373    (.3)     -
 Retained earnings,
  subject to
  certain
  restrictions     1,308,265    1,234,804    1,185,261    5.9   10.4
 Accumulated other
  comprehensive
  income (loss)      (14,663)       5,652       33,359    N.M.   N.M.
 Treasury stock
  at cost,
  22,708,320;
  22,037,025 and
  20,942,932
  shares, and
  other             (872,913)    (839,401)    (784,849)   4.0   11.2
                 ------------ ------------ ------------
   Total
    stockholders'
    equity           939,152      920,858      952,069    2.0   (1.4)
                 ------------ ------------ ------------
                 $11,942,863  $11,319,015  $11,807,764    5.5    1.1
                 ============ ============ ============

------------------------------
N.M.  Not meaningful.



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
                         CREDIT QUALITY DATA
                        (Dollars in thousands)
                             (Unaudited)


Allowance for loan and lease losses:
------------------------------------

             At or For the Six Months      At or For the Year Ended
                Ended June 30, 2004           December 31, 2003
           ---------------------------- -----------------------------
                   Allow-                        Allow-
                    ance   Net Charge-            ance
                   as a %      offs              as a %  Net Charge-
                     of   (Recoveries)(1)          of       offs
           Allow-  Port-  --------------  Allow- Port-  -------------
            ance   folio    $      %      ance   folio     $      %
           ------- ------ -------- ---- -------- ------ -------- ----
Consumer   $9,153    .23 % $1,293  .07 % $9,084    .25 % $3,189  .10 %
Commercial
 real
 estate    25,682   1.29      (48)   -   25,142   1.31    1,336  .07
Commercial
 business  11,276   2.53       57  .03   11,797   2.76      782  .18
Leasing
 and
 equipment
 finance   16,944   1.29    1,272  .21   13,515   1.16    7,537  .69
Unallo-
 cated     16,139    n/a        -  n/a   16,139    n/a        -  n/a
           -------        --------      --------        --------
 Subtotal   79,194  1.02    2,574  .07   75,677   1.06   12,844  .19
Residential
 real
 estate        831   .08       41  .01      942    .08       77  .01
           -------        --------      --------        --------
 Total     $80,025   .90   $2,615  .06  $76,619    .92  $12,921  .16
           =======        ========      ========        ========





Non-performing assets:                                $ Change from
----------------------     At       At       At    -------------------
                        June 30, Mar. 31, Dec. 31, Mar. 31,  Dec. 31,
                          2004     2004     2003     2004      2003
                        -------- -------- -------- --------- ---------

Non-accrual loans and
 leases:
  Consumer              $11,718  $14,428  $12,052   $(2,710)    $(334)
  Commercial real estate  6,750    3,120    2,490     3,630     4,260
  Commercial business     3,490    3,102    2,931       388       559
  Leasing and equipment
   finance, net          10,398   11,219   13,241      (821)   (2,843)
  Residential real
   estate                 3,886    4,473    3,993      (587)     (107)
                        -------- -------- -------- --------- ---------
    Total non-accrual
     loans and leases,
     net                 36,242   36,342   34,707      (100)    1,535
  Non-recourse discounted
   lease rentals            514      644      699      (130)     (185)
                        -------- -------- -------- --------- ---------
    Total non-accrual
     loans and leases,
     gross               36,756   36,986   35,406      (230)    1,350
Other real estate
 owned:
  Residential real
   estate                10,790   18,960   20,462    (8,170)   (9,672)
  Commercial real estate  9,078   11,549   12,992    (2,471)   (3,914)
                        -------- -------- -------- --------- ---------
    Total other real
     estate owned        19,868   30,509   33,454   (10,641)  (13,586)
                        -------- -------- -------- --------- ---------
  Total non-performing
   assets, gross        $56,624  $67,495  $68,860  $(10,871) $(12,236)
                        ======== ======== ======== ========= =========

  Total non-performing
   assets, net          $56,110  $66,851  $68,161  $(10,741) $(12,051)
                        ======== ======== ======== ========= =========


Delinquency data (2):
---------------------
              At June 30,        At March 31,        December 31,
                 2004                2004                2003
           ------------------ ------------------- -------------------

           Principal  % of    Principal   % of    Principal   % of
           Balances Portfolio Balances  Portfolio Balances  Portfolio
           -------- --------- --------- --------- --------- ---------
Consumer   $15,078       .38 % $14,262       .37 % $17,673       .49 %
Commercial
 real estate   101       .01       319       .02        58         -
Commercial
 business      383       .09       128       .03       282       .07
Leasing and
 equipment
 finance    15,774      1.22    12,716      1.02    10,619       .93
Residential
 real
 estate      7,597       .70     6,499       .57    10,112       .84
           --------           ---------           ---------
 Total     $38,933       .44   $33,924       .40   $38,744       .47
           ========           =========           =========




Potential Problem Loans and Leases (3):
---------------------------------------
                                                      $ Change from
                           At       At        At    ------------------
                        June 30, March 31, Dec. 31, March 31, Dec. 31,
                          2004     2004      2003     2004      2003
                        -------- --------- -------- --------- --------
Commercial real estate  $28,052   $30,316  $20,279   $(2,264)  $7,773
Commercial business      14,999    13,072   12,721     1,927    2,278
Leasing and equipment
 finance                 32,754    15,043   15,094    17,711   17,660
                        -------- --------- -------- --------- --------
                        $75,805   $58,431  $48,094   $17,374  $27,711
                        ======== ========= ======== ========= ========

------------------------------
(1) Annualized.
(2) Excludes non-accrual loans and leases.
(3) Consists of loans and leases primarily classified for regulatory
    purposes as substandard and reflect the distinct possibility, but
    not probability, that they will become non-performing or that TCF
    will not be able to collect all amounts due according to the
    contractual terms of the loan or lease agreement.



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
        CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES
                        (Dollars in thousands)
                             (Unaudited)


                            Three Months Ended June 30,
              --------------------------------------------------------
                         2004                        2003
              --------------------------- ----------------------------
                                    Yields                      Yields
                                     and                         and
                Average             Rates   Average             Rates
                Balance    Interest  (1)    Balance    Interest  (1)
              ------------ -------- ----- ------------ -------- -----

ASSETS

 Investments     $157,591      $895 2.28 %   $123,028    $1,179 3.84 %
 Securities
  available
  for sale      1,546,694    20,413 5.28    2,032,384    27,483 5.41
 Loans held
  for sale        385,193     3,340 3.49      534,435     5,788 4.34
 Loans and
  leases:
  Consumer      3,904,194    58,409 6.02    3,203,226    53,221 6.66
  Commercial
   real estate  1,985,498    26,698 5.41    1,848,055    27,865 6.05
  Commercial
   business       428,602     4,358 4.09      467,368     5,081 4.36
  Leasing and
   equipment
   finance      1,285,989    22,610 7.03    1,061,315    20,386 7.68
              ------------ ---------      ------------ ---------
   Subtotal     7,604,283   112,075 5.92    6,579,964   106,553 6.49
  Residential
   real estate  1,123,062    16,066 5.73    1,486,518    23,001 6.19
              ------------ ---------      ------------ ---------
   Total loans
    and leases  8,727,345   128,141 5.90    8,066,482   129,554 6.44
              ------------ ---------      ------------ ---------

    Total
     interest-
     earning
     assets    10,816,823   152,789 5.67   10,756,329   164,004 6.11
                           ---------                   ---------

 Other assets   1,039,455                   1,060,004
              ------------                ------------

  Total
   assets     $11,856,278                 $11,816,333
              ============                ============

LIABILITIES AND
 STOCKHOLDERS' EQUITY

 Non-interest
  bearing
  deposits     $2,413,986                  $2,256,210
 Interest-
  bearing
  deposits:
  Checking      1,327,424       698  .21    1,059,648       213  .08
  Savings       1,838,216     1,579  .35    1,880,170     2,309  .49
  Money market    799,485       727  .37      897,154     1,189  .53
              ------------ ---------      ------------ ---------
   Subtotal     3,965,125     3,004  .30    3,836,972     3,711  .39
  Certificates
   of deposit   1,467,654     6,470 1.77    1,825,466    11,801 2.59
              ------------ ---------      ------------ ---------
   Total
    interest-
    bearing
    deposits    5,432,779     9,474  .70    5,662,438    15,512 1.10
              ------------ ---------      ------------ ---------

    Total
     deposits   7,846,765     9,474  .49    7,918,648    15,512  .79
              ------------ ---------      ------------ ---------

 Borrowings:
  Short-term
   borrowings     669,938     2,115 1.27      544,136     1,759 1.30
  Long-term
   borrowings   2,017,232    18,781 3.80    1,962,893    26,969 5.55
              ------------ ---------      ------------ ---------
    Total
     borrow-
     ings       2,687,170    20,896 3.17    2,507,029    28,728 4.63
              ------------ ---------      ------------ ---------

  Total
   deposits
   and
   borrowings  10,533,935    30,370 1.17   10,425,677    44,240 1.71
                           ---------                   ---------

 Other
  liabilities     379,965                     432,547
              ------------                ------------

  Total
   liabilities 10,913,900                  10,858,224

 Stockholders'
  equity          942,378                     958,109
              ------------                ------------

  Total
   liabilities
   and stock-
   holders'
   equity     $11,856,278                 $11,816,333
              ============                ============

Net interest
 income and
 margin                    $122,419 4.53 %             $119,764 4.45 %
                           ======== =====              ======== =====

------------------------------
(1)  Annualized.



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
        CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES
                        (Dollars in thousands)
                             (Unaudited)


                             Six Months Ended June 30,
              --------------------------------------------------------
                         2004                        2003
              --------------------------------------------------------
                                    Yields                      Yields
                                     and                         and
                Average             Rates   Average             Rates
                Balance    Interest  (1)    Balance    Interest  (1)
              ------------ -------- ----- ------------ -------- -----

ASSETS

 Investments     $149,681    $1,668 2.24 %   $120,939    $2,582 4.30 %
 Securities
  available
  for sale      1,533,034    40,745 5.32    2,185,840    61,247 5.60
 Loans held
  for sale        372,215     6,181 3.34      511,400    11,014 4.34
 Loans and
  leases:
  Consumer      3,805,128   114,715 6.06    3,125,941   104,874 6.77
  Commercial
   real estate  1,963,996    53,221 5.45    1,848,090    55,919 6.10
  Commercial
   business       428,213     8,699 4.09      453,104     9,856 4.39
  Leasing and
   equipment
   finance      1,240,112    43,478 7.01    1,050,325    40,665 7.74
              ------------ ---------      ------------ ---------
   Subtotal     7,437,449   220,113 5.95    6,477,460   211,314 6.57
  Residential
   real estate  1,158,248    33,301 5.76    1,582,809    49,961 6.32
              ------------ ---------      ------------ ---------
   Total loans
    and leases  8,595,697   253,414 5.92    8,060,269   261,275 6.52
              ------------ ---------      ------------ ---------

    Total
     interest-
     earning
     assets    10,650,627   302,008 5.69   10,878,448   336,118 6.21
                           ---------                   ---------

 Other assets   1,040,334                   1,067,955
              ------------                ------------

  Total
   assets     $11,690,961                 $11,946,403
              ============                ============

LIABILITIES AND
 STOCKHOLDERS' EQUITY

 Non-interest
  bearing
  deposits     $2,334,830                  $2,170,132
 Interest-
  bearing
  deposits:
  Checking      1,257,645     1,107  .18    1,025,221       517  .10
  Savings       1,823,677     3,313  .37    1,861,263     5,927  .64
  Money market    816,090     1,495  .37      891,882     2,733  .62
              ------------ ---------      ------------ ---------
   Subtotal     3,897,412     5,915  .31    3,778,366     9,177  .49
  Certificates
   of deposit   1,523,881    14,098 1.86    1,863,092    24,812 2.69
              ------------ ---------      ------------ ---------
   Total
    interest-
    bearing
    deposits    5,421,293    20,013  .74    5,641,458    33,989 1.21
              ------------ ---------      ------------ ---------

    Total
     deposits   7,756,123    20,013  .52    7,811,590    33,989  .88
              ------------ ---------      ------------ ---------

 Borrowings:
  Short-term
   borrowings     702,707     4,465 1.28      706,035     4,589 1.31
  Long-term
   borrowings   1,914,870    36,618 3.90    2,021,478    55,364 5.56
              ------------ ---------      ------------ ---------
    Total
     borrow-
     ings       2,617,577    41,083 3.19    2,727,513    59,953 4.46
              ------------ ---------      ------------ ---------

  Total
   deposits
   and
   borrowings  10,373,700    61,096 1.19   10,539,103    93,942 1.80
                           ---------                   ---------

 Other
  liabilities     378,465                     442,070
              ------------                ------------

  Total
   liabilities 10,752,165                  10,981,173

 Stockholders'
  equity          938,796                     965,230
              ------------                ------------

  Total
   liabilities
   and stock-
   holders'
   equity     $11,690,961                 $11,946,403
              ============                ============

Net interest
 income and
 margin                    $240,912 4.52 %             $242,176 4.45 %
                           ======== =====              ======== =====

------------------------------
(1) Annualized.



             TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
  CONSOLIDATED QUARTERLY STATEMENTS OF INCOME AND FINANCIAL RATIOS
            (Dollars in thousands, except per-share data)
                             (Unaudited)


                                   Three Months Ended
                    -------------------------------------------------
                    Jun. 30,  Mar. 31,  Dec. 31,  Sep. 30,  Jun. 30,
                      2004      2004      2003      2003      2003
                    --------- --------- --------- --------- ---------
Interest income:
  Loans and leases  $128,141  $125,273  $125,042  $126,854  $129,554
  Securities
   available for sale 20,413    20,332    19,995    22,579    27,483
  Loans held for sale  3,340     2,841     3,097     5,905     5,788
  Investments            895       773       785     1,144     1,179
                    --------- --------- --------- --------- ---------
    Total interest
     income          152,789   149,219   148,919   156,482   164,004
                    --------- --------- --------- --------- ---------
Interest expense:
  Deposits             9,474    10,539    10,990    11,816    15,512
  Borrowings          20,896    20,187    18,837    24,789    28,728
                    --------- --------- --------- --------- ---------
    Total interest
     expense          30,370    30,726    29,827    36,605    44,240
                    --------- --------- --------- --------- ---------
      Net interest
       income        122,419   118,493   119,092   119,877   119,764
Provision for
 credit losses         3,070     1,160     4,037     2,658     3,127
                    --------- --------- --------- --------- ---------
    Net interest
     income after
     provision for
     credit losses   119,349   117,333   115,055   117,219   116,637
                    --------- --------- --------- --------- ---------
Non-interest income:
  Fees and service
   charges            73,116    59,659    64,486    65,757    62,799
  Debit card revenue  16,024    13,491    12,069    12,923    14,766
  ATM revenue         11,138     9,997    10,400    11,566    11,242
  Investments and
   insurance
   commissions         3,430     3,462     3,037     3,584     3,760
                    --------- --------- --------- --------- ---------
    Subtotal         103,708    86,609    89,992    93,830    92,567
  Leasing and
   equipment
   finance            12,245    10,167    15,372    10,652    11,457
  Mortgage banking     4,790     3,455     6,573    11,304    (4,728)
  Other                1,844     2,228     2,928     2,303     1,707
                    --------- --------- --------- --------- ---------
    Fees and other
     revenue         122,587   102,459   114,865   118,089   101,003
                    --------- --------- --------- --------- ---------
  Gains on sales of
   securities
   available for sale      -    12,717         -         -    11,695
  Gains (losses) on
   termination of debt     -         -         -   (37,769)        -
  Gain on sale of
   loan servicing        706         -         -         -         -
                    --------- --------- --------- --------- ---------
    Other non-interest
     income              706    12,717         -   (37,769)   11,695
                    --------- --------- --------- --------- ---------
      Total non-
       interest
       income        123,293   115,176   114,865    80,320   112,698
                    --------- --------- --------- --------- ---------
Non-interest
 expense:
  Compensation and
   employee benefits  79,597    78,879    76,752    75,646    73,807
  Occupancy and
   equipment          23,397    23,490    22,984    22,309    21,531
  Advertising and
   promotions          6,498     5,910     6,204     6,536     6,443
  Other               34,414    32,427    36,304    37,891    34,952
                    --------- --------- --------- --------- ---------
    Total non-
     interest
     expense         143,906   140,706   142,244   142,382   136,733
                    --------- --------- --------- --------- ---------
      Income before
       income tax
       expense        98,736    91,803    87,676    55,157    92,602
Income tax expense    33,518    31,142    28,180    19,193    32,311
                    --------- --------- --------- --------- ---------
    Net income       $65,218   $60,661   $59,496   $35,964   $60,291
                    ========= ========= ========= ========= =========

Net income per
 common share:
  Basic                 $.95      $.88      $.86      $.51      $.85
                    ========= ========= ========= ========= =========
  Diluted               $.94      $.88      $.86      $.51      $.85
                    ========= ========= ========= ========= =========

Dividends declared
 per common share      $.375     $.375     $.325     $.325     $.325
                    ========= ========= ========= ========= =========

Financial Ratios:
-------------------

Return on average
 assets(1)              2.20 %    2.11 %    2.13 %    1.24 %    2.04 %
Return on average
 common equity(1)      27.68     25.90     26.18     15.77     25.17
Net interest
 margin(1)              4.53      4.52      4.68      4.57      4.45
Net charge-offs as
 a percentage of
 average loans and
 leases(1)               .10       .02       .30       .08       .16
Average total equity
 to average assets      7.95      8.13      8.13      7.89      8.11

------------------------------
(1)  Annualized.



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
   CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL
                              INFORMATION
                            (In thousands)
                             (Unaudited)


            Jun. 30,    Mar. 31,    Dec. 31,   Sept. 30,    Jun. 30,
              2004        2004        2003        2003        2003
           ---------- ----------- ----------- ----------- -----------

ASSETS

Cash and due
 from banks  $347,551    $326,731    $339,531    $372,777    $349,524
Investments   157,591     141,770      75,397      89,182     123,028
Securities
 available
 for sale   1,546,694   1,519,374   1,505,379   1,696,800   2,032,384
Loans held
 for sale     385,193     359,238     359,650     572,827     534,435
Loans and
 leases:
 Consumer   3,904,194   3,706,061   3,529,177   3,365,816   3,203,226
 Commercial
  real
  estate    1,985,498   1,942,494   1,875,215   1,846,204   1,848,055
 Commercial
  business    428,602     427,824     424,310     452,260     467,368
 Leasing
  and
  equipment
  finance   1,285,989   1,194,235   1,152,753   1,123,284   1,061,315
           ---------- ----------- ----------- ----------- -----------
  Subtotal  7,604,283   7,270,614   6,981,455   6,787,564   6,579,964
 Residential
  real
  estate    1,123,062   1,193,435   1,256,847   1,344,921   1,486,518
           ---------- ----------- ----------- ----------- ------------
  Total loans
   and
   leases   8,727,345   8,464,049   8,238,302   8,132,485   8,066,482
  Allowance
   for loan
   and lease
   losses     (79,169)    (77,655)    (78,655)    (78,657)    (78,074)
           ---------- ----------- ----------- ----------- -----------
   Net loans
    and
    leases  8,648,176   8,386,394   8,159,647   8,053,828   7,988,408
Premises and
 equipment    297,492     287,322     276,541     262,676     253,759
Goodwill      152,599     146,678     145,462     145,462     145,462
Deposit base
 intangibles    5,280       5,695       6,111       6,529       6,945
Mortgage
 servicing
 rights        50,876      51,432      49,955      45,300      51,913
Other assets  264,826     301,010     263,879     319,959     330,475
           ---------- ----------- ----------- ----------- -----------
          $11,856,278 $11,525,644 $11,181,552 $11,565,340 $11,816,333
           ========== =========== =========== =========== ===========

LIABILITIES AND
 STOCKHOLDERS' EQUITY

Deposits:
 Checking  $3,596,808  $3,329,383  $3,194,672  $3,194,438  $3,041,711
 Savings    1,982,818   1,923,295   1,931,827   2,143,100   2,154,317
 Money
  market      799,485     832,695     866,408     899,071     897,154
           ---------- ----------- ----------- ----------- -----------
  Subtotal  6,379,111   6,085,373   5,992,907   6,236,609   6,093,182
 Certificates
  of
  deposit   1,467,654   1,580,107   1,607,495   1,644,351   1,825,466
           ---------- ----------- ----------- ----------- -----------
  Total
   deposits 7,846,765   7,665,480   7,600,402   7,880,960   7,918,648
           ---------- ----------- ----------- ----------- -----------
Short-term
 borrowings   669,938     735,475     941,460     673,312     544,136
Long-term
 borrowings 2,017,232   1,812,508   1,358,496   1,721,151   1,962,893
           ---------- ----------- ----------- ----------- -----------
  Total
   borrow-
   ings     2,687,170   2,547,983   2,299,956   2,394,463   2,507,029
Accrued
 expenses
 and other
 liabilities  379,965     375,192     372,034     377,779     432,547
           ---------- ----------- ----------- ----------- -----------
  Total
   liabil-
   ities   10,913,900  10,588,655  10,272,392  10,653,202  10,858,224
           ---------- ----------- ----------- ----------- -----------
Stockholders'
 equity:
 Common stock     925         925         925         925         925
 Additional
  paid-in
  capital     516,990     517,203     517,657     517,345     516,853
 Retained
  earnings  1,282,080   1,243,968   1,209,630   1,185,987   1,164,827
 Accumulated
  other
  compre-
  hensive
  income
  (loss)      (11,666)     11,784       4,332      (2,174)     33,414
 Treasury
  stock at
  cost and
  other      (845,951)   (836,891)   (823,384)   (789,945)   (757,910)
           ----------- ----------- ----------- ----------- -----------
   Total
    stock-
    holders'
    equity    942,378     936,989     909,160     912,138     958,109
           ----------- ----------- ----------- ----------- -----------
          $11,856,278 $11,525,644 $11,181,552 $11,565,340 $11,816,333
           =========== =========== =========== =========== ===========

Supplemental
 Information:
----------------------
Residential
 real estate
 loans     $1,123,062  $1,193,435  $1,256,847  $1,344,921  $1,486,518
Securities
 available
 for sale   1,546,694   1,519,374   1,505,379   1,696,800   2,032,384
           ---------- ----------- ----------- ----------- -----------
 Total
  residential
  real estate
  loans and
  securities
  available
  for sale $2,669,756  $2,712,809  $2,762,226  $3,041,721  $3,518,902
           ========== =========== =========== =========== ===========



              TCF FINANCIAL CORPORATION
 AND SUBSIDIARIES
               SUMMARY OF CONSUMER AND COMMERCIAL LOANS
                        (Dollars in millions)
                             (Unaudited)


(Dollars in millions)                   At June 30, 2004
                          --------------------------------------------
                             Consumer    Commercial (1)     Total
                          -------------- -------------- --------------
                                  % of           % of           % of
                          Amount  Total  Amount  Total  Amount  Total
                          ------- -----  ------- -----  ------- -----
Variable-rate loans:
  Immediately reprice if
   rate index
   increases (2)          $2,115    53 %   $889    36 % $3,004    47 %
  Other (3)                  364     9      233    10      597     9
                          ------- -----  ------- -----  ------- -----

      Total variable-rate
       loans               2,479    62    1,122    46    3,601    56
                          ------- -----  ------- -----  ------- -----

Fixed-rate loans           1,546    38      412    17    1,958    30
Adjustable-rate loans (4)      -     -      909    37      909    14
                          ------- -----  ------- -----  ------- -----

      Total fixed- and
       adjustable-rate
       loans               1,546    38    1,321    54    2,867    44
                          ------- -----  ------- -----  ------- -----

    Total consumer and
     commercial loans     $4,025   100 % $2,443   100 % $6,468   100 %
                          ======= =====  ======= =====  ======= =====




------------------------------
(1) Includes commercial real estate and commercial business loans.
(2) Loans subject to an immediate increase in interest rate if there
    is an increase in the prime rate or LIBOR.
(3) The prime rate or LIBOR would need to increase to the equivalent
    floor rate before the loan rate would change from the floor
    interest rate.
(4) These loans reprice at periodic intervals, generally 3-5 years,
    at which time the fixed rate adjusts to a new rate based on a
    specified spread to the applicable U.S. Treasury rate.
    CONTACT: TCF Financial Corporation
, Wayzata
             Jason Korstange, 952-745-2755
             www.tcfexpress.com

    SOURCE: TCF Financial Corporation

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