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Press Release

TCF Reports Second Quarter Earnings and EPS ($.52)

Company Release - 7/19/2006 8:37 AM ET

WAYZATA, Minn.--(BUSINESS WIRE)--July 19, 2006--

TCF Financial Corporation (NYSE:TCB):

    SECOND QUARTER HIGHLIGHTS

    --  Diluted earnings per share of 52 cents

    --  Net income of $67.1 million

    --  Return on average assets of 1.92 percent

    --  Return on average common equity of 27.75 percent

    --  Average Power Assets(R) increased $1.2 billion, or 14.3
        percent

    --  Average Power Liabilities(R) increased $1 billion, or 11.9
        percent

    --  Increased checking accounts by 29,720, or 7.3 percent
        (annualized), to 1,658,815

    --  Opened six new branches during the quarter; 136 new branches
        since January 2001


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

                         Three Months               Six Months
                        Ended June 30,            Ended June 30,
                   ------------------------ --------------------------
                     2006     2005   Change   2006      2005    Change
                   -------- -------- ------ --------- --------- ------
Net income         $67,061  $70,641  (5.1)% $125,283  $134,106  (6.6)%
Diluted earnings
 per common share      .52      .53  (1.9)       .96      1.00  (4.0)

Financial Ratios (1)
--------------------
Return on average
 assets               1.92 %   2.22 %           1.82 %    2.13 %
Return on average
 common equity       27.75    30.23            25.80     28.74
Net interest
 margin               4.22     4.53             4.23      4.54
Net charge-offs as
 a percentage of
 average loans and
 leases                .12      .08              .11       .03

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

TCF Financial Corporation ("TCF") (NYSE:TCB) today reported diluted earnings per share of 52 cents for the second quarter of 2006, compared with 53 cents for the same 2005 period. Net income for the second quarter of 2006 was $67.1 million, compared with $70.6 million for the same 2005 period. The 2005 second quarter included $4.9 million in pre-tax gains on asset sales for an after-tax impact of two cents per diluted share.

For the second quarter of 2006, return on average assets ("ROA") was 1.92 percent and return on average common equity ("ROE") was 27.75 percent, compared with 2.22 percent and 30.23 percent, respectively, for the second quarter of 2005.

Diluted earnings per share for the first six months of 2006 was 96 cents, compared with $1.00 for the same 2005 period. The first six months of 2006 includes $4.5 million in pre-tax gains on asset sales for an after-tax impact of two cents per diluted share. The first six months of 2005 included $15.9 million in pre-tax gains on asset sales and a $3.3 million pre-tax commercial loan recovery for a combined after-tax impact of nine cents per diluted share.

Chief Executive Officer's Statement

"TCF's 2006 second quarter earnings performance is the result of our commitment to delivering convenient products and services to our customers, as well as our continued focus on the fundamentals that have made us successful over time," said Lynn A. Nagorske, Chief Executive Officer. "We achieved solid growth in the second quarter in Power Assets, highlighted by our consumer lending and leasing divisions, while maintaining excellent credit quality," said Nagorske.

Total Revenue

                                     Three Months
($ in thousands)                    Ended June 30,        Change
                                 ------------------- -----------------
                                   2006      2005       $        %
                                 --------- --------- -------- --------

Net interest income              $135,442  $131,285   $4,157     3.2 %
                                 --------- --------- --------
Fees and other revenue:
 Fees and service charges          71,099    66,755    4,344     6.5
 Card revenue                      22,984    19,717    3,267    16.6
 ATM revenue                        9,762    10,795   (1,033)   (9.6)
 Investments and insurance          2,894     2,791      103     3.7
                                 --------- --------- --------
  Total banking fees and other
   revenue                        106,739   100,058    6,681     6.7
 Leasing and equipment finance     12,552    11,092    1,460    13.2
 Other                              4,331     2,051    2,280   111.2
                                 --------- --------- --------
  Total fees and other revenue    123,622   113,201   10,421     9.2
                                 --------- --------- --------
 Gains on sales of securities           -     4,437   (4,437) (100.0)
                                 --------- --------- --------
   Total non-interest income      123,622   117,638    5,984     5.1
                                 --------- --------- --------
    Total revenue                $259,064  $248,923  $10,141     4.1
                                 ========= ========= ========

Net interest margin (1)              4.22%     4.53%
Fees and other revenue as a % of:
 Total revenue                      47.72     45.48
 Average assets (1)                  3.54      3.56

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

Net Interest Income

TCF's net interest income in the second quarter of 2006 was $135.4 million, up $4.2 million, or 3.2 percent, from the second quarter of 2005 and up $4.3 million, or 3.3 percent, from the first quarter of 2006. Net interest margin in the second quarter of 2006 was 4.22 percent, compared with 4.53 percent for the second quarter of 2005 and 4.25 percent for the first quarter of 2006. The increase in net interest income from the second quarter of 2005 was primarily due to a $1.3 billion, or 10.9 percent, increase in average interest-earning assets, partially offset by the 31 basis point reduction in net interest margin. This decrease in net interest margin was primarily due to the continued customer preference for lower-yielding fixed-rate loans due to the flat yield curve and higher deposit and borrowing costs.

The increase in net interest income from the first quarter of 2006 was primarily due to a $414.3 million, or 3.3 percent, increase in average interest-earning assets, partially offset by the three basis point reduction in net interest margin. This decrease in net interest margin was primarily due to the continued customer preference for lower-yielding fixed-rate loans due to the flat yield curve and higher deposit and borrowing costs.

Non-interest Income

Total non-interest income was $123.6 million for the second quarter of 2006, up $6 million, or 5.1 percent, from the same period of 2005.

Banking fees and service charges were $71.1 million for the second quarter of 2006, up $4.3 million, or 6.5 percent, from the second quarter of 2005, primarily due to the growth in checking accounts. Card revenues totaled $23 million for the second quarter of 2006, up 16.6 percent over the same period in 2005. The increase in card revenues was primarily attributable to an increase in active accounts and customer transaction volumes.

For the second quarter of 2006, ATM revenue was $9.8 million, compared with $10.8 million for the same 2005 period. The decline in ATM revenue was primarily attributable to continued declines in fees charged to TCF customers for use of non-TCF ATM machines due to expansion of TCF's ATM network and modifications of checking products, partially offset by the increased number of TCF customers with cards.

Leasing and equipment finance revenues were $12.6 million for the second quarter of 2006, up $1.5 million, or 13.2 percent, from the 2005 second quarter, primarily due to higher operating lease revenues, partially offset by lower sales-type lease revenues. Sales-type lease revenues may fluctuate from quarter to quarter based on customer driven factors not within the control of TCF.

During the 2005 second quarter, TCF sold $441.5 million of mortgage-backed securities and realized gains of $4.4 million. No such sales or gains occurred in the second quarter of 2006.

New Branch Expansion

TCF opened six new branches during the second quarter of 2006 and closed three branches. TCF has now opened 136 new branches since January 2001, representing 30 percent of TCF's 455 total branches. TCF plans to open 17 new branches in the remainder of 2006, consisting of 11 traditional branches, three supermarket branches and three campus branches.

                                  June 30,     June 30,   December 31,
(# of branches)                     2006         2005         2000
                                ------------ ------------ ------------

Total Branches
--------------
Minnesota                               106          102           84
Illinois                                202          197          167
Michigan                                 62           61           56
Colorado                                 44           35           12
Wisconsin                                35           34           32
Indiana                                   6            6            1
                                ------------ ------------ ------------
                                        455          435          352
                                ============ ============ ============


New Branches (a)
---------------
   Traditional                           72           54
   Supermarket                           61           53
   Campus                                 3            1
                                ------------ ------------
     Total                              136          108
                                ------------ ------------
         % of Total Branches             30%          25%
                                ============ ============

----------------------------------------------------------------------
(a) New branches opened since January 1, 2001.

Additional information regarding the results of TCF's new branches opened since January 1, 2001 is summarized as follows:

                             At or For the Three
                                Months Ended
                                  June 30,
                            ---------------------
($ in thousands)               2006       2005     Change   % Change
                            ----------- --------- --------- ----------

Number of checking accounts    252,040   187,166    64,874      34.7 %
Average deposits:
 Checking                     $395,670  $283,011  $112,659      39.8
 Savings                       302,371   194,865   107,506      55.2
 Money market                   31,888    18,653    13,235      71.0
                            ----------- --------- ---------
  Subtotal                     729,929   496,529   233,400      47.0
 Certificates of deposit       438,877   164,018   274,859     167.6
                            ----------- --------- ---------
  Total deposits            $1,168,806  $660,547  $508,259      76.9
                            =========== ========= =========

Total fees and other revenue
 (quarter ended)               $18,635   $13,807    $4,828      35.0
                            =========== ========= =========

Power Assets(R)

TCF's Power Asset lending operations continue to generate strong growth. TCF's average consumer loan balances increased $768.9 million, or 16.4 percent; average commercial real estate loan balances increased $198.4 million, or 9 percent; and leasing and equipment finance balances increased $212.3 million, or 15 percent, from the second quarter of 2005.

                         Average Balances for the
                        Three Months Ended June 30,       Change
                        --------------------------- ------------------
($ in thousands)            2006          2005           $        %
                        ------------- ------------- ----------- ------
Loans and leases(a):
 Consumer home equity
  and other:
  Home equity:
   First mortgage lien    $3,509,589    $3,079,471    $430,118  14.0 %
   Junior lien             1,901,063     1,563,102     337,961  21.6
                        ------------- ------------- -----------
    Total consumer home
     equity                5,410,652     4,642,573     768,079  16.5
 Other                        34,854        34,012         842   2.5
                        ------------- ------------- -----------
    Total consumer home
     equity and other      5,445,506     4,676,585     768,921  16.4
 Commercial real estate    2,398,425     2,200,008     198,417   9.0
 Commercial business         500,530       432,923      67,607  15.6
 Leasing and equipment
  finance                  1,624,781     1,412,520     212,261  15.0
                        ------------- ------------- -----------
    Power Assets          $9,969,242    $8,722,036  $1,247,206  14.3
                        ============= ============= ===========

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

Power Liabilities(R)

Average Power Liabilities totaled $9.4 billion for the second quarter of 2006, with an average interest rate of 1.97 percent, an increase of $1 billion, or 11.9 percent, from the second quarter of 2005. The growth in average Power Liabilities was primarily driven by increases in Premier Checking, Premier Savings and certificates of deposit, partially offset by declines in other lower-cost interest-bearing checking and savings. Average custodial balances decreased $68.9 million from the second quarter of 2005 due to the sale of mortgage servicing rights in the first quarter of 2006. The total number of checking accounts was 1,658,815 at June 30, 2006, up 55,642 accounts, or 6.9 percent (annualized) from December 31, 2005.

                     Average Balances for the
                    Three Months Ended June 30,
                    ---------------------------
($ in thousands)        2006          2005        Change    % Change
                    ------------- ------------- ----------- ---------
Non-interest bearing
 deposits:
 Retail               $1,557,933    $1,589,015    $(31,082)     (2.0)%
 Small business          604,776       571,701      33,075       5.8
 Commercial and
  custodial              234,188       311,463     (77,275)    (24.8)
                    ------------- ------------- -----------
  Total non-interest
   bearing deposits    2,396,897     2,472,179     (75,282)     (3.0)
Interest-bearing
 deposits:
 Premier checking      1,000,749       580,093     420,656      72.5
 Other checking          893,800     1,075,421    (181,621)    (16.9)
                    ------------- ------------- -----------
  Subtotal             1,894,549     1,655,514     239,035      14.4
 Premier savings         855,979       345,567     510,412     147.7
 Other savings         1,415,767     1,603,720    (187,953)    (11.7)
                    ------------- ------------- -----------
  Subtotal             2,271,746     1,949,287     322,459      16.5
 Money market            610,766       633,762     (22,996)     (3.6)
                    ------------- ------------- -----------
  Subtotal             4,777,061     4,238,563     538,498      12.7
 Certificates of
  deposit              2,249,694     1,707,919     541,775      31.7
                    ------------- ------------- -----------
  Total interest-
   bearing deposits    7,026,755     5,946,482   1,080,273      18.2
                    ------------- ------------- -----------
  Power Liabilities   $9,423,652    $8,418,661  $1,004,991      11.9
                    ============= ============= ===========
    Securities Available for Sale and Residential Real Estate Loans

Average balances of securities available for sale (consisting primarily of mortgage-backed securities) and residential real estate loans totaled $2.6 billion for the second quarter of 2006, an increase of $28.7 million from the second quarter of 2005. TCF purchased $52 million of mortgage-backed securities in the second quarter of 2006, compared with $103.7 million in the second quarter of 2005. At June 30, 2006, the unrealized pre-tax loss on TCF's securities available for sale portfolio was $85.7 million.

                          Average Balances for the
                         Three Months Ended June 30,      Change
                         --------------------------- -----------------
($ in thousands)             2006          2005          $       %
                         ------------- ------------- --------- -------
Securities available for
 sale                      $1,880,671    $1,646,986  $233,685   14.2 %
Residential real estate
 loans                        714,432       919,379  (204,947) (22.3)
                         ------------- ------------- ---------
   Total                   $2,595,103    $2,566,365   $28,738    1.1
                         ============= ============= =========

Non-interest Expense

Non-interest expense totaled $162 million for the second quarter of 2006, up $11.9 million, or 7.9 percent, from $150.2 million for the second quarter of 2005, primarily due to new branch expansion totaling $5.5 million, a $2 million increase in deposit account losses and a $1.7 million increase in operating lease depreciation.

Compensation and employee benefits increased $3.1 million, or 3.8 percent, from the second quarter of 2005, primarily driven by a $2.1 million increase attributable to branch expansion.

Occupancy and equipment expenses increased $3.2 million, or 13 percent, from the second quarter of 2005, primarily due to $1.4 million associated with branch expansion.

Deposit account losses increased $2 million, or 53 percent, from the second quarter of 2005, primarily due to higher uncollectable account overdrafts and external fraud losses.

Operating lease depreciation increased $1.7 million from the second quarter of 2005, primarily driven by a $42.1 million increase in average operating lease balances in TCF's leasing and equipment finance subsidiaries.

Other expenses increased $1.9 million, or 5.9 percent, from the second quarter of 2005, primarily driven by a $1.4 million increase related to branch expansion.

                                   Three Months Ended
                                        June 30,           Change
                                   ------------------- ---------------
($ in thousands)                     2006      2005       $       %
                                   --------- --------- -------- ------

Compensation and employee benefits  $85,083   $81,973   $3,110    3.8%
Occupancy and equipment              27,998    24,771    3,227   13.0
Advertising and promotions            6,755     6,778      (23)   (.3)
Deposit account losses                5,673     3,708    1,965   53.0
Operating lease depreciation          3,405     1,671    1,734  103.8
Other                                33,132    31,279    1,853    5.9
                                   --------- --------- --------
    Total non-interest expense     $162,046  $150,180  $11,866    7.9
                                   ========= ========= ========

Credit Quality

At June 30, 2006, TCF's allowance for loan and lease losses totaled $59.2 million, or .54 percent of loans and leases, compared with $60.4 million, or .59 percent, at December 31, 2005. The provision for credit losses for the second quarter of 2006 was $3.1 million, up $1.7 million from the second quarter of 2005. The increase in the provision for credit losses in the second quarter of 2006, compared with the second quarter of 2005, is primarily due to the overall growth of the loan and lease portfolio and higher net charge-offs. Net loan and lease charge-offs in the second quarter of 2006 were $3.2 million, or .12 percent (annualized) of average loans and leases, compared with net charge-offs of $1.9 million, or .08 percent (annualized) for the same 2005 period.

At June 30, 2006, TCF's over-30-day delinquency rate was .32 percent, down from .43 percent at December 31, 2005. Non-accrual loans and leases were $25.1 million, or .23 percent of net loans and leases, at June 30, 2006, compared with $29.6 million, or .29 percent, at December 31, 2005. Total non-performing assets were $51.1 million, or .36 percent of total assets, at June 30, 2006, up from $47.4 million, or .35 percent, at December 31, 2005.

                                  Three Months Ended Six Months Ended
                                       June 30,          June 30,
                                  ------------------ -----------------
($ in thousands)                    2006      2005     2006     2005
                                  --------- -------- -------- --------
Allowance for loan and lease
 losses:
 Balance at beginning of period    $59,378  $76,883  $60,396  $79,878
  Net (charge-offs) recoveries:
   Consumer home equity and other   (1,319)  (1,016)  (2,758)  (2,325)
   Commercial real estate                -        3      (69)     (34)
   Commercial business                (170)      31     (324)   2,468
   Leasing and equipment finance    (1,705)    (911)  (2,536)  (1,525)
   Residential real estate             (35)     (11)     (67)     (47)
                                  --------- -------- -------- --------
    Total                           (3,229)  (1,904)  (5,754)  (1,463)
   Provision for credit losses       3,097    1,427    4,604   (2,009)
                                  --------- -------- -------- --------
 Balance at end of period          $59,246  $76,406  $59,246  $76,406
                                  ========= ======== ======== ========

Income Taxes

TCF's income tax expense was $26.9 million for the second quarter of 2006, or 28.60 percent of income before income tax expense, up from $26.7 million, or 27.41 percent, for the comparable 2005 period. The second quarter of 2006 and 2005 include reductions of income tax expense of $4.1 million and $5.2 million, respectively, related to favorable developments in uncertain tax positions including the closing of certain previous years' tax returns, clarification of existing state tax legislation and developments in income tax audits.

Capital

During the second quarter of 2006, TCF repurchased 500,000 shares of its common stock at an average cost of $26.41 per share. TCF has 3.8 million shares remaining in its stock repurchase program authorized by its Board of Directors.

($ in thousands, except             At June 30,        At June 30,
 per-share data)                       2006               2005
                                 ------------------  ----------------

Stockholders' equity               $977,385          $954,557
Stockholders' equity to total
 assets                                6.88 %            7.57 %
Book value per common share           $7.44             $7.12

Total risk-based capital         $1,137,792  11.12 % $998,270  10.80 %
Total risk-based capital "well-
 capitalized" requirement         1,023,000  10.00    923,968  10.00
Excess risk-based capital over
 "well-capitalized" requirement     114,792   1.12     74,302    .80

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 19, 2006 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 $14.2 billion in assets. TCF has 455 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin and Indiana. Other TCF affiliates provide leasing and equipment finance, 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 and 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; an inability 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 standards or interpretations of existing standards; monetary, fiscal or tax policies of the federal or state governments; adverse findings in tax audits or regulatory examinations; changes in credit and other risks posed by TCF's loan, lease and investment portfolios, including declines in commercial or residential real estate values; imposition of vicarious liability on TCF as lessor in its leasing operations; denial of insurance coverage for claims made by TCF; technological, computer-related or operational difficulties or loss or theft of information; adverse changes in securities markets; and results of litigation, including reductions in card revenues resulting from litigation brought by various merchants or merchant organizations against Visa; or other significant uncertainties. Investors should consult TCF's Annual Report on Form 10-K, and Forms 10-Q and 8-K for additional important information about the Company.

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


                               Three Months Ended
                                    June 30,
                               -------------------
                                 2006      2005    $ Change % Change
                               --------- --------- -------- ---------
Interest income:
   Loans and leases            $188,988  $155,014  $33,974      21.9 %
   Securities available for
    sale                         25,156    21,325    3,831      18.0
   Education loans held for
    sale                          4,205     2,566    1,639      63.9
   Investments                      792     1,094     (302)    (27.6)
                               --------- --------- --------
      Total interest income     219,141   179,999   39,142      21.7
                               --------- --------- --------
Interest expense:
   Deposits                      46,247    20,646   25,601     124.0
   Borrowings                    37,452    28,068    9,384      33.4
                               --------- --------- --------
      Total interest expense     83,699    48,714   34,985      71.8
                               --------- --------- --------
          Net interest income   135,442   131,285    4,157       3.2
Provision for credit losses       3,097     1,427    1,670     117.0
                               --------- --------- --------
      Net interest income after
       provision for credit
       losses                   132,345   129,858    2,487       1.9
                               --------- --------- --------
Non-interest income:
   Fees and service charges      71,099    66,755    4,344       6.5
   Card revenue                  22,984    19,717    3,267      16.6
   ATM revenue                    9,762    10,795   (1,033)     (9.6)
   Investments and insurance
    revenue                       2,894     2,791      103       3.7
                               --------- --------- --------
      Subtotal                  106,739   100,058    6,681       6.7
   Leasing and equipment
    finance                      12,552    11,092    1,460      13.2
   Other                          4,331     2,051    2,280     111.2
                               --------- --------- --------
      Fees and other revenue    123,622   113,201   10,421       9.2
   Gains on sales of securities
    available for sale                -     4,437   (4,437)   (100.0)
                               --------- --------- --------
          Total non-interest
           income               123,622   117,638    5,984       5.1
                               --------- --------- --------
Non-interest expense:
   Compensation and employee
    benefits                     85,083    81,973    3,110       3.8
   Occupancy and equipment       27,998    24,771    3,227      13.0
   Advertising and promotions     6,755     6,778      (23)      (.3)
   Deposit account losses         5,673     3,708    1,965      53.0
   Other                         36,537    32,950    3,587      10.9
                               --------- --------- --------
      Total non-interest
       expense                  162,046   150,180   11,866       7.9
                               --------- --------- --------
          Income before income
           tax expense           93,921    97,316   (3,395)     (3.5)
Income tax expense               26,860    26,675      185        .7
                               --------- --------- --------
          Net income            $67,061   $70,641  $(3,580)     (5.1)
                               ========= ========= ========

Net income per common share:
   Basic                           $.52      $.53    $(.01)     (1.9)
                               ========= ========= ========
   Diluted                         $.52      $.53    $(.01)     (1.9)
                               ========= ========= ========

Dividends declared per common
 share                             $.23    $.2125   $.0175       8.2
                               ========= ========= ========


Average common and common
 equivalent shares outstanding
 (in thousands):
      Basic                     129,169   132,410   (3,241)     (2.4)
                               ========= ========= ========
      Diluted                   129,362   132,742   (3,380)     (2.5)
                               ========= ========= ========



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

                                Six Months Ended
                                    June 30,
                               -------------------
                                 2006      2005    $ Change % Change
                               --------- --------- -------- ---------
Interest income:
   Loans and leases            $365,971  $301,558  $64,413      21.4 %
   Securities available for
    sale                         48,855    42,820    6,035      14.1
   Education loans held for
    sale                          8,552     4,820    3,732      77.4
   Investments                    1,469     2,146     (677)    (31.5)
                               --------- --------- --------
      Total interest income     424,847   351,344   73,503      20.9
                               --------- --------- --------
Interest expense:
   Deposits                      86,094    36,584   49,510     135.3
   Borrowings                    72,143    54,422   17,721      32.6
                               --------- --------- --------
      Total interest expense    158,237    91,006   67,231      73.9
                               --------- --------- --------
          Net interest income   266,610   260,338    6,272       2.4
Provision for credit losses       4,604    (2,009)   6,613       N.M.
                               --------- --------- --------
      Net interest income after
       provision for credit
       losses                   262,006   262,347     (341)      (.1)
                               --------- --------- --------
Non-interest income:
   Fees and service charges     132,654   124,693    7,961       6.4
   Card revenue                  44,246    37,359    6,887      18.4
   ATM revenue                   18,861    20,527   (1,666)     (8.1)
   Investments and insurance
    revenue                       5,382     5,644     (262)     (4.6)
                               --------- --------- --------
      Subtotal                  201,143   188,223   12,920       6.9
   Leasing and equipment
    finance                      24,467    21,785    2,682      12.3
   Other                         15,511    10,008    5,503      55.0
                               --------- --------- --------
      Fees and other revenue    241,121   220,016   21,105       9.6
   Gains on sales of securities
    available for sale                -     9,676   (9,676)   (100.0)
                               --------- --------- --------
          Total non-interest
           income               241,121   229,692   11,429       5.0
                               --------- --------- --------
Non-interest expense:
   Compensation and employee
    benefits                    171,251   163,424    7,827       4.8
   Occupancy and equipment       56,049    50,150    5,899      11.8
   Advertising and promotions    12,471    13,025     (554)     (4.3)
   Deposit account losses         9,686     7,275    2,411      33.1
   Other                         72,513    64,323    8,190      12.7
                               --------- --------- --------
      Total non-interest
       expense                  321,970   298,197   23,773       8.0
                               --------- --------- --------
          Income before income
           tax expense          181,157   193,842  (12,685)     (6.5)
Income tax expense               55,874    59,736   (3,862)     (6.5)
                               --------- --------- --------
          Net income           $125,283  $134,106  $(8,823)     (6.6)
                               ========= ========= ========

Net income per common share:
   Basic                           $.97     $1.01    $(.04)     (4.0)
                               ========= ========= ========
   Diluted                         $.96     $1.00    $(.04)     (4.0)
                               ========= ========= ========

Dividends declared per common
 share                             $.46     $.425    $.035       8.2
                               ========= ========= ========

Average common and common
 equivalent shares outstanding
 (in thousands):
      Basic                     129,722   133,196   (3,474)     (2.6)
                               ========= ========= ========
      Diluted                   129,902   133,563   (3,661)     (2.7)
                               ========= ========= ========

N.M.  Not Meaningful.



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

                                     At           At           At
                                  June 30,   December 31,   June 30,
                                    2006         2005         2005
                                ------------ ------------ ------------
                                (Unaudited)               (Unaudited)
ASSETS

Cash and due from banks         $   371,942  $   374,701  $   361,158
Investments                          76,124       79,943      104,127
Securities available for sale     1,781,995    1,648,615    1,406,575
Education loans held for sale       227,703      229,820      213,227
Loans and leases:
 Consumer home equity and other   5,579,647    5,187,584    4,808,003
 Commercial real estate           2,411,028    2,297,500    2,202,752
 Commercial business                543,314      435,233      447,958
 Leasing and equipment finance    1,677,641    1,503,794    1,419,868
                                ------------ ------------ ------------
  Subtotal                       10,211,630    9,424,111    8,878,581
 Residential real estate            695,213      770,441      884,141
                                ------------ ------------ ------------
  Total loans and leases         10,906,843   10,194,552    9,762,722
 Allowance for loan and lease
  losses                            (59,246)     (60,396)     (76,406)
                                ------------ ------------ ------------
  Net loans and leases           10,847,597   10,134,156    9,686,316
Premises and equipment              384,360      365,146      339,619
Goodwill                            152,599      152,599      152,599
Other assets                        356,029      380,380      343,595
                                ------------ ------------ ------------
                                $14,198,349  $13,365,360  $12,607,216
                                ============ ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:
 Checking                       $ 4,341,029  $ 4,279,853  $ 4,019,685
 Savings                          2,297,636    2,238,204    2,046,068
 Money market                       603,024      677,017      629,731
                                ------------ ------------ ------------
  Subtotal                        7,241,689    7,195,074    6,695,484
 Certificates of deposit          2,382,273    1,915,620    1,728,842
                                ------------ ------------ ------------
  Total deposits                  9,623,962    9,110,694    8,424,326
                                ------------ ------------ ------------
Short-term borrowings               561,374      472,126    1,045,582
Long-term borrowings              2,778,277    2,511,010    1,899,047
                                ------------ ------------ ------------
  Total borrowings                3,339,651    2,983,136    2,944,629
Accrued expenses and other
 liabilities                        257,351      273,058      283,704
                                ------------ ------------ ------------
  Total liabilities              13,220,964   12,366,888   11,652,659
                                ------------ ------------ ------------
Stockholders' equity:
 Common stock, par value $.01
  per share, 280,000,000 shares
  authorized; 184,202,447;
  184,386,193 and 184,425,478
  shares issued                       1,842        1,844        1,844
 Additional paid-in capital         468,110      497,270      496,910
 Retained earnings, subject to
  certain restrictions            1,601,009    1,536,611    1,462,393
 Accumulated other comprehensive
  (loss) income                     (55,515)     (21,215)       1,601

 Treasury stock at cost,
  52,813,430; 50,609,970 and
  50,301,984 shares, and other   (1,038,061)  (1,016,038)  (1,008,191)
                                ------------ ------------ ------------
   Total stockholders' equity       977,385      998,472      954,557
                                ------------ ------------ ------------
                                $14,198,349  $13,365,360  $12,607,216
                                ============ ============ ============



                                                  % Change from
                                            -------------------------
                                            December 31,   June 30,
                                                2005         2005
                                            ------------ ------------

ASSETS

Cash and due from banks                             (.7)%        3.0 %
Investments                                        (4.8)       (26.9)
Securities available for sale                       8.1         26.7
Education loans held for sale                       (.9)         6.8
Loans and leases:
 Consumer home equity and other                     7.6         16.0
 Commercial real estate                             4.9          9.5
 Commercial business                               24.8         21.3
 Leasing and equipment finance                     11.6         18.2
  Subtotal                                          8.4         15.0
 Residential real estate                           (9.8)       (21.4)
  Total loans and leases                            7.0         11.7
 Allowance for loan and lease
  losses                                            1.9         22.5
  Net loans and leases                              7.0         12.0
Premises and equipment                              5.3         13.2
Goodwill                                              -            -
Other assets                                       (6.4)         3.6
                                                    6.2         12.6

LIABILITIES AND STOCKHOLDERS'
 EQUITY

Deposits:
 Checking                                           1.4          8.0
 Savings                                            2.7         12.3
 Money market                                     (10.9)        (4.2)
  Subtotal                                           .6          8.2
 Certificates of deposit                           24.4         37.8
  Total deposits                                    5.6         14.2
Short-term borrowings                              18.9        (46.3)
Long-term borrowings                               10.6         46.3
  Total borrowings                                 12.0         13.4
Accrued expenses and other
 liabilities                                       (5.8)        (9.3)
  Total liabilities                                 6.9         13.5
Stockholders' equity:
 Common stock, par value $.01 per
  share, 280,000,000 shares
  authorized; 184,202,447;
  184,386,193 and 184,425,478
  shares issued                                     (.1)         (.1)
 Additional paid-in capital                        (5.9)        (5.8)
 Retained earnings, subject to
  certain restrictions                              4.2          9.5
 Accumulated other comprehensive                                 N.M.
  (loss) income                                  (161.7)
 Treasury stock at cost,
  52,813,430; 50,609,970 and
  50,301,984 shares, and other                     (2.2)        (3.0)
   Total stockholders' equity                      (2.1)         2.4
                                                    6.2         12.6

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 Three Months Ended
                                            June 30, 2006
                                -------------------------------------
                                                      Net Charge-offs
                                           Allowance        (1)
                                           as a % of  ----------------
                                Allowance  Portfolio     $       %
                                ---------- ---------- -------- ------
 Consumer home equity and other   $17,099        .31 % $1,319    .10 %
 Commercial real estate            22,127        .92        -      -
 Commercial business                7,123       1.31      170    .14
 Leasing and equipment finance     12,352        .74    1,705    .42
 Residential real estate              545        .08       35    .02
                                ----------            --------
   Total                          $59,246        .54   $3,229    .12
                                ==========            ========


                                      At or For the Year Ended
                                          December 31, 2005
                                -------------------------------------
                                                      Net Charge-offs
                                           Allowance    (Recoveries)
                                           as a % of  ---------------
                                Allowance  Portfolio     $       %
                                ---------- ---------- -------- ------
 Consumer home equity and other   $16,643        .32 % $5,210    .11 %
 Commercial real estate            21,222        .92       (8)     -
 Commercial business                6,602       1.52   (2,173)  (.51)
 Leasing and equipment finance     15,313       1.02   21,384   1.50
 Residential real estate              616        .08       91    .01
                                ----------            --------
   Total                          $60,396        .59  $24,504    .25
                                ==========            ========


Non-performing assets:
----------------------
                                                      Change from
                     At         At         At    ---------------------
                  June 30, December 31, June 30, December 31, June 30,
                    2006       2005       2005       2005       2005
                  -------- ------------ -------- ------------ --------
 Non-accrual
  loans and
  leases:
  Consumer home
   equity and
   other           $9,898      $18,410  $10,324      $(8,512)   $(426)
  Commercial
   real estate      7,319          188        -        7,131    7,319
  Commercial
   business         1,481        2,207    2,660         (726)  (1,179)
  Leasing and
   equipment
   finance          4,906        6,434   26,485       (1,528) (21,579)
  Residential
   real estate      1,536        2,409    2,230         (873)    (694)
                  -------- ------------ -------- ------------ --------
   Total non-
    accrual loans
    and leases     25,140       29,648   41,699       (4,508) (16,559)
 Other real
  estate
  owned:
  Residential
   real estate     20,393       14,877   12,479        5,516    7,914
  Commercial
   real estate      5,593        2,834    4,799        2,759      794
                  -------- ------------ -------- ------------ --------
   Total other
    real estate
    owned          25,986       17,711   17,278        8,275    8,708
                  -------- ------------ -------- ------------ --------
  Total non-
   performing
   assets         $51,126      $47,359  $58,977       $3,767  $(7,851)
                  ======== ============ ======== ============ ========



Over 30-day delinquency data (2):
---------------------------------
                                  At June 30,       At December 31,
                                     2006                2005
                              ------------------- -------------------

                              Principal   % of    Principal   % of
                              Balances  Portfolio Balances  Portfolio
                              --------- --------- --------- ---------
 Consumer home equity and
  other                        $19,950       .36 % $18,556       .36 %
 Commercial real estate            108         -    10,038       .44
 Commercial business               241       .04       819       .19
 Leasing and equipment
  finance                        7,056       .42     6,182       .41
 Residential real estate         7,195      1.04     8,009      1.04
                              ---------           ---------
  Total                        $34,550       .32   $43,604       .43
                              =========           =========


                                                      At June 30,
                                                         2005
                                                  -------------------

                                                  Principal   % of
                                                  Balances  Portfolio
                                                  --------- ---------
 Consumer home equity and
  other                                            $16,406       .34 %
 Commercial real estate                                663       .03
 Commercial business                                   292       .07
 Leasing and equipment
  finance                                            6,069       .44
 Residential real estate                             8,617       .98
                                                  ---------
  Total                                            $32,047       .33
                                                  =========



                     At         At         At         Change from
                                                 ---------------------
                  June 30, December 31, June 30, December 31, June 30,
                    2006       2005       2005       2005       2005
                  -------- ------------ -------- ------------ --------
 Accruing loans
  and leases 90
  or more days
  past due         $7,070       $6,475   $6,165         $595     $905
                  ======== ============ ======== ============ ========



Potential Problem Loans and Leases (3):
---------------------------------------

                                                     Change from
                    At         At         At    ---------------------
                 June 30, December 31, June 30, December 31, June 30,
                   2006       2005       2005       2005       2005
                 -------- ------------ -------- ------------ --------
 Commercial real
  estate         $28,084      $35,341  $29,256      $(7,257) $(1,172)
 Commercial
  business        15,440       11,793   21,997        3,647   (6,557)
 Leasing and
  equipment
  finance          7,859        7,648    8,855          211     (996)
                 -------- ------------ -------- ------------ --------
                 $51,383      $54,782  $60,108      $(3,399) $(8,725)
                 ======== ============ ======== ============ ========



(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,
                                 -------------------------------------
                                                 2006
                                 -------------------------------------
                                    Average               Yields and
                                    Balance     Interest   Rates (1)
                                 ------------- ---------- -----------

ASSETS

  Investments                         $69,176       $792        4.59 %
  Securities available for sale     1,880,671     25,156        5.35
  Education loans held for sale       228,492      4,205        7.38
  Loans and leases:
   Consumer home equity:
    Fixed-rate                      3,721,249     63,061        6.80
    Variable-rate                   1,689,403     36,611        8.69
   Consumer - other                    34,854        921       10.60
                                 ------------- ----------
     Total consumer home equity
      and other                     5,445,506    100,593        7.41
   Commercial real estate:
    Fixed- and adjustable-rate      1,672,864     26,007        6.24
    Variable-rate                     725,561     13,754        7.60
                                 ------------- ----------
     Total commercial real estate   2,398,425     39,761        6.65
   Commercial business:
    Fixed- and adjustable-rate        127,702      1,969        6.18
    Variable-rate                     372,828      6,940        7.47
                                 ------------- ----------
     Total commercial business        500,530      8,909        7.14
   Leasing and equipment finance    1,624,781     29,370        7.23
                                 ------------- ----------
    Subtotal                        9,969,242    178,633        7.18
   Residential real estate            714,432     10,355        5.80
                                 ------------- ----------
    Total loans and leases         10,683,674    188,988        7.09
                                 ------------- ----------

     Total interest-earning
      assets                       12,862,013    219,141        6.83
                                 ------------- ----------

  Other assets                      1,105,735
                                 -------------

   Total assets                   $13,967,748
                                 =============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                          $1,557,933
   Small business                     604,776
   Commercial and custodial           234,188
                                 -------------
    Total non-interest bearing
     deposits                       2,396,897
  Interest-bearing deposits:
   Premier checking                 1,000,749      7,923        3.18
   Other checking                     893,800        512         .23
                                 ------------- ----------
    Subtotal                        1,894,549      8,435        1.79
   Premier savings                    855,979      8,612        4.04
   Other savings                    1,415,767      2,970         .84
                                 ------------- ----------
    Subtotal                        2,271,746     11,582        2.04
   Money market                       610,766      3,429        2.25
                                 ------------- ----------
    Subtotal                        4,777,061     23,446        1.97
   Certificates of deposit          2,249,694     22,801        4.07
                                 ------------- ----------
    Total interest-bearing
     deposits                       7,026,755     46,247        2.64
                                 ------------- ----------

     Total deposits                 9,423,652     46,247        1.97
                                 ------------- ----------

  Borrowings:
   Short-term borrowings              573,418      7,140        4.99
   Long-term borrowings             2,703,623     30,312        4.50
                                 ------------- ----------
     Total borrowings               3,277,041     37,452        4.58
                                 ------------- ----------

   Total deposits and borrowings   12,700,693     83,699        2.64
                                 ------------- ----------

  Other liabilities                   300,436
                                 -------------

   Total liabilities               13,001,129

  Stockholders' equity                966,619
                                 -------------

   Total liabilities and
     stockholders' equity         $13,967,748
                                 =============


Net interest income and margin                  $135,442        4.22 %
                                               ========== ===========

(1)  Annualized.



                                      Three Months Ended June 30,
                                 -------------------------------------
                                                 2005
                                 -------------------------------------
                                    Average               Yields and
                                    Balance     Interest   Rates (1)
                                 ------------- ---------- -----------

ASSETS

  Investments                        $101,305     $1,094        4.33 %
  Securities available for sale     1,646,986     21,325        5.18
  Education loans held for sale       213,279      2,566        4.83
  Loans and leases:
   Consumer home equity:
    Fixed-rate                      2,048,035     34,323        6.72
    Variable-rate                   2,594,538     43,806        6.77
   Consumer - other                    34,012        779        9.19
                                 ------------- ----------
     Total consumer home equity
      and other                     4,676,585     78,908        6.77
   Commercial real estate:
    Fixed- and adjustable-rate      1,365,132     20,910        6.14
    Variable-rate                     834,876     11,903        5.72
                                 ------------- ----------
     Total commercial real estate   2,200,008     32,813        5.98
   Commercial business:
    Fixed- and adjustable-rate         73,654      1,056        5.75
    Variable-rate                     359,269      4,978        5.56
                                 ------------- ----------
     Total commercial business        432,923      6,034        5.59
   Leasing and equipment finance    1,412,520     24,133        6.83
                                 ------------- ----------
    Subtotal                        8,722,036    141,888        6.52
   Residential real estate            919,379     13,126        5.71
                                 ------------- ----------
    Total loans and leases          9,641,415    155,014        6.44
                                 ------------- ----------

     Total interest-earning
      assets                       11,602,985    179,999        6.22
                                 ------------- ----------

  Other assets                      1,099,048
                                 -------------

   Total assets                   $12,702,033
                                 =============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                          $1,589,015
   Small business                     571,701
   Commercial and custodial           311,463
                                 -------------
    Total non-interest bearing
     deposits                       2,472,179
  Interest-bearing deposits:
   Premier checking                   580,093      2,950        2.04
   Other checking                   1,075,421        561         .21
                                 ------------- ----------
    Subtotal                        1,655,514      3,511         .85
   Premier savings                    345,567      2,160        2.51
   Other savings                    1,603,720      2,137         .53
                                 ------------- ----------
    Subtotal                        1,949,287      4,297         .88
   Money market                       633,762      1,564         .99
                                 ------------- ----------
    Subtotal                        4,238,563      9,372         .89
   Certificates of deposit          1,707,919     11,274        2.65
                                 ------------- ----------
    Total interest-bearing
     deposits                       5,946,482     20,646        1.39
                                 ------------- ----------

     Total deposits                 8,418,661     20,646         .98
                                 ------------- ----------

  Borrowings:
   Short-term borrowings              920,471      6,908        3.01
   Long-term borrowings             2,075,264     21,160        4.09
                                 ------------- ----------
     Total borrowings               2,995,735     28,068        3.76
                                 ------------- ----------

   Total deposits and borrowings   11,414,396     48,714        1.71
                                 ------------- ----------

  Other liabilities                   352,861
                                 -------------

   Total liabilities               11,767,257

  Stockholders' equity                934,776
                                 -------------

   Total liabilities and
     stockholders' equity         $12,702,033
                                 =============

 Net interest income and margin                 $131,285        4.53 %
                                               ========== ===========

(1)  Annualized.



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

                                       Six Months Ended June 30,
                                 -------------------------------------
                                                 2006
                                 -------------------------------------
                                    Average               Yields and
                                    Balance     Interest   Rates (1)
                                 ------------- ---------- -----------

ASSETS
  Investments                         $69,912     $1,469        4.22 %
  Securities available for sale     1,831,402     48,855        5.34
  Education loans held for sale       254,692      8,552        6.77
  Loans and leases:
   Consumer home equity:
    Fixed-rate                      3,536,733    118,583        6.76
    Variable-rate                   1,776,991     74,335        8.44
   Consumer - other                    34,843      1,714        9.92
                                 ------------- ----------
     Total consumer home equity
      and other                     5,348,567    194,632        7.34
   Commercial real estate:
    Fixed- and adjustable-rate      1,621,257     49,933        6.21
    Variable-rate                     742,935     27,222        7.39
                                 ------------- ----------
     Total commercial real estate   2,364,192     77,155        6.58
   Commercial business:
    Fixed- and adjustable-rate        121,757      3,718        6.16
    Variable-rate                     353,331     12,575        7.18
                                 ------------- ----------
     Total commercial business        475,088     16,293        6.92
   Leasing and equipment finance    1,579,161     56,656        7.18
                                 ------------- ----------
    Subtotal                        9,767,008    344,736        7.11
   Residential real estate            733,004     21,235        5.80
                                 ------------- ----------
    Total loans and leases         10,500,012    365,971        7.02
                                 ------------- ----------

     Total interest-earning
      assets                       12,656,018    424,847        6.75
                                 ------------- ----------

  Other assets                      1,134,190
                                 -------------

   Total assets                   $13,790,208
                                 =============

LIABILITIES AND STOCKHOLDERS' EQUITY
  Non-interest bearing deposits:
   Retail                          $1,555,983
   Small business                     597,548
   Commercial and custodial           258,164
                                 -------------
    Total non-interest bearing
     deposits                       2,411,695
  Interest-bearing deposits:
   Premier checking                   969,575     14,954        3.11
   Other checking                     901,835      1,068         .24
                                 ------------- ----------
    Subtotal                        1,871,410     16,022        1.73
   Premier savings                    818,222     15,911        3.92
   Other savings                    1,428,223      6,084         .86
                                 ------------- ----------
    Subtotal                        2,246,445     21,995        1.97
   Money market                       640,022      6,975        2.20
                                 ------------- ----------
    Subtotal                        4,757,877     44,992        1.91
   Certificates of deposit          2,128,341     41,102        3.89
                                 ------------- ----------
    Total interest-bearing
     deposits                       6,886,218     86,094        2.52
                                 ------------- ----------

     Total deposits                 9,297,913     86,094        1.87
                                 ------------- ----------

  Borrowings:
   Short-term borrowings              623,863     14,643        4.73
   Long-term borrowings             2,593,321     57,500        4.47
                                 ------------- ----------
     Total borrowings               3,217,184     72,143        4.52
                                 ------------- ----------

   Total deposits and borrowings   12,515,097    158,237        2.55
                                 ------------- ----------

  Other liabilities                   304,060
                                 -------------

   Total liabilities               12,819,157

  Stockholders' equity                971,051
                                 -------------

   Total liabilities and
     stockholders' equity         $13,790,208
                                 =============

 Net interest income and margin                 $266,610        4.23 %
                                               ========== ===========


(1)  Annualized.




                                       Six Months Ended June 30,
                                 -------------------------------------
                                                 2005
                                 -------------------------------------
                                    Average               Yields and
                                    Balance     Interest   Rates (1)
                                 ------------- ---------- -----------

ASSETS
  Investments                        $103,643     $2,146        4.17 %
  Securities available for sale     1,655,154     42,820        5.17
  Education loans held for sale       210,371      4,820        4.62
  Loans and leases:
   Consumer home equity:
    Fixed-rate                      1,902,409     63,467        6.73
    Variable-rate                   2,647,837     86,531        6.59
   Consumer - other                    35,023      1,564        9.01
                                 ------------- ----------
     Total consumer home equity
      and other                     4,585,269    151,562        6.67
   Commercial real estate:
    Fixed- and adjustable-rate      1,346,251     40,977        6.14
    Variable-rate                     838,009     22,772        5.48
                                 ------------- ----------
     Total commercial real estate   2,184,260     63,749        5.89
   Commercial business:
    Fixed- and adjustable-rate         74,307      2,100        5.70
    Variable-rate                     345,986      9,095        5.30
                                 ------------- ----------
     Total commercial business        420,293     11,195        5.37
   Leasing and equipment finance    1,401,094     47,924        6.84
                                 ------------- ----------
    Subtotal                        8,590,916    274,430        6.43
   Residential real estate            951,891     27,128        5.71
                                 ------------- ----------
    Total loans and leases          9,542,807    301,558        6.36
                                 ------------- ----------

     Total interest-earning
      assets                       11,511,975    351,344        6.14
                                 ------------- ----------

  Other assets                      1,086,604
                                 -------------

   Total assets                   $12,598,579
                                 =============

LIABILITIES AND STOCKHOLDERS' EQUITY
  Non-interest bearing deposits:
   Retail                          $1,580,426
   Small business                     559,448
   Commercial and custodial           312,543
                                 -------------
    Total non-interest bearing
     deposits                       2,452,417
  Interest-bearing deposits:
   Premier checking                   520,073      5,055        1.96
   Other checking                   1,082,442        924         .17
                                 ------------- ----------
    Subtotal                        1,602,515      5,979         .75
   Premier savings                    313,725      3,811        2.45
   Other savings                    1,605,131      3,782         .48
                                 ------------- ----------
    Subtotal                        1,918,856      7,593         .80
   Money market                       640,442      2,635         .83
                                 ------------- ----------
    Subtotal                        4,161,813     16,207         .79
   Certificates of deposit          1,650,619     20,377        2.49
                                 ------------- ----------
    Total interest-bearing
     deposits                       5,812,432     36,584        1.27
                                 ------------- ----------

     Total deposits                 8,264,849     36,584         .89
                                 ------------- ----------

  Borrowings:
   Short-term borrowings              947,512     12,988        2.76
   Long-term borrowings             2,095,205     41,434        3.99
                                 ------------- ----------
     Total borrowings               3,042,717     54,422        3.60
                                 ------------- ----------

   Total deposits and borrowings   11,307,566     91,006        1.62
                                 ------------- ----------

  Other liabilities                   357,727
                                 -------------

   Total liabilities               11,665,293

  Stockholders' equity                933,286
                                 -------------

   Total liabilities and
     stockholders' equity         $12,598,579
                                 =============

 Net interest income and margin                 $260,338        4.54 %
                                               ========== ===========


(1)  Annualized.



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

                            At or For the Three Months Ended
                    -------------------------------------------------
                    Jun. 30,  Mar. 31,  Dec. 31,  Sep. 30,  Jun. 30,
                      2006      2006      2005      2005      2005
                    --------- --------- --------- --------- ---------
Interest income:
 Loans and leases   $188,988  $176,983  $171,436  $163,178  $155,014
 Securities
  available for
  sale                25,156    23,699    20,766    17,893    21,325
 Education loans
  held for sale        4,205     4,347     3,342     2,759     2,566
 Investments             792       677       841       463     1,094
                    --------- --------- --------- --------- ---------
  Total interest
   income            219,141   205,706   196,385   184,293   179,999
                    --------- --------- --------- --------- ---------
Interest expense:
 Deposits             46,247    39,847    34,283    26,539    20,646
 Borrowings           37,452    34,691    32,820    29,684    28,068
                    --------- --------- --------- --------- ---------
  Total interest
   expense            83,699    74,538    67,103    56,223    48,714
                    --------- --------- --------- --------- ---------
   Net interest
    income           135,442   131,168   129,282   128,070   131,285
Provision for
 credit losses         3,097     1,507     3,637     3,394     1,427
                    --------- --------- --------- --------- ---------

  Net interest
   income after
   provision for
   credit losses     132,345   129,661   125,645   124,676   129,858
                    --------- --------- --------- --------- ---------
Non-interest
 income:
 Fees and service
  charges             71,099    61,555    67,716    70,315    66,755
 Card revenue         22,984    21,262    21,419    21,025    19,717
 ATM revenue           9,762     9,099     9,557    10,646    10,795
 Investments and
  insurance revenue    2,894     2,488     2,339     2,682     2,791
                    --------- --------- --------- --------- ---------
  Subtotal           106,739    94,404   101,031   104,668   100,058
 Leasing and
  equipment finance   12,552    11,915    15,405    10,197    11,092
 Other                 4,331    11,180     8,590     7,752     2,051
                    --------- --------- --------- --------- ---------
  Fees and other
   revenue           123,622   117,499   125,026   122,617   113,201
 Gains on sales of
  securities
  available for
  sale                     -         -         -       995     4,437
                    --------- --------- --------- --------- ---------
   Total non-
    interest income  123,622   117,499   125,026   123,612   117,638
                    --------- --------- --------- --------- ---------
Non-interest
 expense:
 Compensation and
  employee benefits   85,083    86,168    82,700    80,402    81,973
 Occupancy and
  equipment           27,998    28,051    27,819    25,931    24,771
 Advertising and
  promotions           6,755     5,716     6,088     6,578     6,778
 Deposit account
  losses               5,673     4,013     6,607     6,591     3,708
 Other                36,537    35,976    35,264    34,411    32,950
                    --------- --------- --------- --------- ---------
  Total non-
   interest expense  162,046   159,924   158,478   153,913   150,180
                    --------- --------- --------- --------- ---------
   Income before
    income tax
    expense           93,921    87,236    92,193    94,375    97,316
Income tax expense    26,860    29,014    26,653    28,889    26,675
                    --------- --------- --------- --------- ---------
  Net income         $67,061   $58,222   $65,540   $65,486   $70,641
                    ========= ========= ========= ========= =========

Net income per
 common share:
 Basic                  $.52      $.45      $.50      $.50      $.53
                    ========= ========= ========= ========= =========
 Diluted                $.52      $.45      $.50      $.50      $.53
                    ========= ========= ========= ========= =========

Dividends declared
 per common share       $.23      $.23    $.2125    $.2125    $.2125
                    ========= ========= ========= ========= =========

Financial Ratios and Other Information:
---------------------------------------

Return on average
 assets (1)             1.92 %    1.71 %    2.01 %    2.07 %    2.22 %
Return on average
 common equity (1)     27.75     23.82     27.09     27.41     30.23
Net interest margin
 (1)                    4.22      4.25      4.31      4.43      4.53
Net charge-offs as
 a percentage of
 average loans and
 leases (1)              .12       .10       .09       .85       .08
Average total
 equity to average
 assets                 6.92 %    7.18 %    7.40 %    7.56 %    7.36 %

(1)  Annualized.



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

                                  Jun. 30,     Mar. 31,     Dec. 31,
                                    2006         2006         2005
                                ------------ ------------ ------------

ASSETS

Cash and due from banks            $325,715     $332,293     $346,555
Investments                          69,176       70,655       83,027
Securities available for sale     1,880,671    1,781,586    1,577,967
Education loans held for sale       228,492      281,185      230,623
Loans and leases:
 Consumer home equity:
  Fixed-rate                      3,721,249    3,350,168    2,944,673
  Variable-rate                   1,689,403    1,865,549    2,120,363
 Consumer - other                    34,854       34,833       34,544
                                ------------ ------------ ------------
   Total consumer home equity
    and other                     5,445,506    5,250,550    5,099,580
 Commercial real estate:
  Fixed- and adjustable-rate      1,672,864    1,569,078    1,451,488
  Variable-rate                     725,561      760,501      809,855
                                ------------ ------------ ------------
   Total commercial real estate   2,398,425    2,329,579    2,261,343
 Commercial business:
  Fixed- and adjustable-rate        127,702      115,745      106,974
  Variable-rate                     372,828      333,619      321,436
                                ------------ ------------ ------------
   Total commercial business        500,530      449,364      428,410
 Leasing and equipment finance    1,624,781    1,533,034    1,461,491
                                ------------ ------------ ------------
  Subtotal                        9,969,242    9,562,527    9,250,824
 Residential real estate            714,432      751,782      792,245
                                ------------ ------------ ------------
  Total loans and leases         10,683,674   10,314,309   10,043,069
 Allowance for loan and lease
  losses                            (59,524)     (59,488)     (59,509)
                                ------------ ------------ ------------
  Net loans and leases           10,624,150   10,254,821    9,983,560
Premises and equipment              381,174      372,746      358,505
Goodwill                            152,599      152,599      152,599
Other assets                        305,771      364,809      336,464
                                ------------ ------------ ------------
                                $13,967,748  $13,610,694  $13,069,300
                                ============ ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Non-interest-bearing deposits:
 Retail                          $1,557,933   $1,554,008   $1,492,418
 Small business                     604,776      590,240      623,310
 Commercial and custodial           234,188      282,408      295,910
                                ------------ ------------ ------------
  Total non-interest bearing
   deposits                       2,396,897    2,426,656    2,411,638
Interest-bearing deposits:
 Premier checking                 1,000,749      938,055      827,742
 Other checking                     893,800      909,960      936,517
                                ------------ ------------ ------------
  Subtotal                        1,894,549    1,848,015    1,764,259
 Premier savings                    855,979      780,046      640,444
 Other savings                    1,415,767    1,440,818    1,475,505
                                ------------ ------------ ------------
  Subtotal                        2,271,746    2,220,864    2,115,949
 Money market                       610,766      669,602      649,123
                                ------------ ------------ ------------
  Subtotal                        4,777,061    4,738,481    4,529,331
 Certificates of deposit          2,249,694    2,005,639    1,886,787
                                ------------ ------------ ------------
  Total interest-bearing
   deposits                       7,026,755    6,744,120    6,416,118
                                ------------ ------------ ------------
   Total deposits                 9,423,652    9,170,776    8,827,756
                                ------------ ------------ ------------
Borrowings:
 Short-term borrowings              573,418      674,868      739,372
 Long-term borrowings             2,703,623    2,481,793    2,207,711
                                ------------ ------------ ------------
  Total borrowings                3,277,041    3,156,661    2,947,083
Accrued expenses and other
 liabilities                        300,436      305,672      326,693
                                ------------ ------------ ------------
  Total liabilities              13,001,129   12,633,109   12,101,532
                                ------------ ------------ ------------
Stockholders' equity:
 Common stock                         1,842        1,843        1,844
 Additional paid-in capital         467,768      469,062      496,442
 Retained earnings                1,573,856    1,541,523    1,510,336
 Accumulated other comprehensive
  loss                              (48,838)     (24,638)     (24,157)
 Treasury stock at cost and
  other                          (1,028,009)  (1,010,205)  (1,016,697)
                                ------------ ------------ ------------
                                    966,619      977,585      967,768
                                ------------ ------------ ------------
                                $13,967,748  $13,610,694  $13,069,300
                                ============ ============ ============

Supplemental Information:
--------------------------------
Securities available for sale    $1,880,671   $1,781,586   $1,577,967
Residential real estate loans       714,432      751,782      792,245
                                ------------ ------------ ------------
 Total  securities available for
  sale and residential real
  estate loans                   $2,595,103   $2,533,368   $2,370,212
                                ============ ============ ============



                                              Sept. 30,     Jun. 30,
                                                 2005         2005
                                             ------------ ------------

ASSETS

Cash and due from banks                         $346,065     $331,110
Investments                                       91,355      101,305
Securities available for sale                  1,393,742    1,646,986
Education loans held for sale                    206,850      213,279
Loans and leases:
 Consumer home equity:
  Fixed-rate                                   2,454,762    2,048,035
  Variable-rate                                2,392,934    2,594,538
 Consumer - other                                 34,469       34,012
                                             ------------ ------------
   Total consumer home equity
    and other                                  4,882,165    4,676,585
 Commercial real estate:
  Fixed- and adjustable-rate                   1,398,340    1,365,132
  Variable-rate                                  822,223      834,876
                                             ------------ ------------
   Total commercial real estate                2,220,563    2,200,008
 Commercial business:
  Fixed- and adjustable-rate                      85,611       73,654
  Variable-rate                                  348,030      359,269
                                             ------------ ------------
   Total commercial business                     433,641      432,923
 Leasing and equipment finance                 1,428,653    1,412,520
                                             ------------ ------------
  Subtotal                                     8,965,022    8,722,036
 Residential real estate                         849,069      919,379
                                             ------------ ------------
  Total loans and leases                       9,814,091    9,641,415
 Allowance for loan and lease
  losses                                         (76,207)     (76,774)
                                             ------------ ------------
  Net loans and leases                         9,737,884    9,564,641
Premises and equipment                           345,641      333,614
Goodwill                                         152,599      152,599
Other assets                                     357,401      358,499
                                             ------------ ------------
                                             $12,631,537  $12,702,033
                                             ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Non-interest-bearing deposits:
 Retail                                       $1,539,893   $1,589,015
 Small business                                  600,374      571,701
 Commercial and custodial                        325,025      311,463
                                             ------------ ------------
  Total non-interest bearing
   deposits                                    2,465,292    2,472,179
Interest-bearing deposits:
 Premier checking                                694,835      580,093
 Other checking                                1,004,507    1,075,421
                                             ------------ ------------
  Subtotal                                     1,699,342    1,655,514
 Premier savings                                 436,690      345,567
 Other savings                                 1,549,451    1,603,720
                                             ------------ ------------
  Subtotal                                     1,986,141    1,949,287
 Money market                                    632,293      633,762
                                             ------------ ------------
  Subtotal                                     4,317,776    4,238,563
 Certificates of deposit                       1,770,805    1,707,919
                                             ------------ ------------
  Total interest-bearing
   deposits                                    6,088,581    5,946,482
                                             ------------ ------------
   Total deposits                              8,553,873    8,418,661
                                             ------------ ------------
Borrowings:
 Short-term borrowings                         1,037,240      920,471
 Long-term borrowings                          1,757,968    2,075,264
                                             ------------ ------------
  Total borrowings                             2,795,208    2,995,735
Accrued expenses and other
 liabilities                                     326,976      352,861
                                             ------------ ------------
  Total liabilities                           11,676,057   11,767,257
                                             ------------ ------------
Stockholders' equity:
 Common stock                                      1,844        1,845
 Additional paid-in capital                      496,496      497,810
 Retained earnings                             1,473,273    1,431,903
 Accumulated other comprehensive
  loss                                            (3,104)      (1,992)
 Treasury stock at cost and
  other                                       (1,013,029)    (994,790)
                                             ------------ ------------
                                                 955,480      934,776
                                             ------------ ------------
                                             $12,631,537  $12,702,033
                                             ============ ============

Supplemental Information:
--------------------------------
Securities available for sale                 $1,393,742   $1,646,986
Residential real estate loans                    849,069      919,379
                                             ------------ ------------
 Total  securities available for
  sale and residential real
  estate loans                                $2,242,811   $2,566,365
                                             ============ ============



              TCF FINANCIAL CORPORATION AND SUBSIDIARIES
             CONSOLIDATED QUARTERLY YIELDS AND RATES (1)
                             (Unaudited)

                        Jun. 30, Mar. 31, Dec. 31, Sept. 30, Jun. 30,
                          2006     2006     2005     2005      2005
                        -------- -------- -------- --------- --------

ASSETS

  Investments              4.59 %   3.86 %   4.03 %    2.02 %   4.33 %
  Securities available
   for sale                5.35     5.32     5.26      5.14     5.18
  Education loans held
   for sale                7.38     6.27     5.75      5.29     4.83
  Loans and leases:
   Consumer home equity:
    Fixed-rate             6.80     6.72     6.66      6.68     6.72
    Variable-rate          8.69     8.20     7.68      7.22     6.77
   Consumer - other       10.60     9.23     9.58      9.38     9.19
     Total consumer home
      equity and other     7.41     7.26     7.11      6.96     6.77
   Commercial real
    estate:
    Fixed- and
     adjustable-rate       6.24     6.18     6.16      6.15     6.14
    Variable-rate          7.60     7.18     6.75      6.27     5.72
     Total commercial
      real estate          6.65     6.51     6.38      6.20     5.98
   Commercial business:
    Fixed- and
     adjustable-rate       6.18     6.13     5.90      5.88     5.75
    Variable-rate          7.47     6.85     6.41      6.02     5.56
     Total commercial
      business             7.14     6.66     6.29      5.99     5.59
   Leasing and equipment
    finance                7.23     7.12     7.00      6.74     6.83
    Subtotal               7.18     7.03     6.87      6.69     6.52
   Residential real
    estate                 5.80     5.80     5.73      5.73     5.71
    Total loans and
     leases                7.09     6.94     6.78      6.61     6.44

     Total interest-
      earning assets       6.83     6.68     6.54      6.37     6.22


LIABILITIES

  Interest-bearing
   deposits:
   Premier checking        3.18     3.04     2.97      2.66     2.04
   Other checking           .23      .25      .23       .23      .21
    Subtotal               1.79     1.67     1.52      1.23      .85
   Premier savings         4.04     3.79     3.66      3.21     2.51
   Other savings            .84      .88      .81       .67      .53
    Subtotal               2.04     1.90     1.67      1.23      .88
   Money market            2.25     2.15     1.78      1.31      .99
    Subtotal               1.97     1.84     1.63      1.24      .89
   Certificates of
    deposit                4.07     3.70     3.30      2.93     2.65
    Total interest-
     bearing deposits      2.64     2.40     2.12      1.73     1.39

     Total deposits        1.97     1.76     1.54      1.23      .98

  Borrowings:
   Short-term borrowings   4.99     4.51     4.09      3.52     3.01
   Long-term borrowings    4.50     4.44     4.53      4.62     4.09
    Total borrowings       4.58     4.45     4.42      4.22     3.76

     Total interest-
      bearing
      liabilities          2.64     2.45     2.26      1.97     1.71


Net interest margin        4.22 %   4.25 %   4.31 %    4.43 %   4.53 %
                        ======== ======== ======== ========= ========

(1)  Annualized.

Source: TCF Financial Corporation

The information that is on or available through this site speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. TCF Financial Corporation does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.