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Press Release

TCF Reports Third Quarter Earnings and EPS ($.51)

Company Release - 10/18/2006 8:30 AM ET

WAYZATA, Minn.--(BUSINESS WIRE)--

TCF Financial Corporation (NYSE:TCB):

    THIRD QUARTER HIGHLIGHTS

    --  Diluted earnings per share of 51 cents

    --  Net income of $65.9 million

    --  Return on average assets of 1.86 percent

    --  Return on average common equity of 26.44 percent

    --  Average Power Assets(R) increased from the prior year by $1.3
        billion, or 15 percent

    --  Average Power Liabilities(R) increased from the prior year by
        $952.6 million, or 11.1 percent

    --  Increased checking accounts during the quarter by 14,865 to
        1,673,680

    --  Opened five new branches during the quarter; 141 new branches
        since January 2001

EARNINGS SUMMARY
($ in thousands, except per-share data)
                     Three Months                 Nine Months
                 Ended September 30,          Ended September 30,
             ---------------------------- ----------------------------
               2006      2005     Change    2006      2005     Change
             --------- --------- -------- --------- --------- --------
Net income    $65,927   $65,486       .7% $191,210  $199,592    (4.2)%
Diluted
 earnings
 per common
 share            .51       .50      2.0      1.48      1.50     (1.3)

Financial
 Ratios (1)
------------
Return on
 average
 assets          1.86%     2.07%              1.83%     2.11%
Return on
 average
 common
 equity         26.44     27.41              26.04     28.32
Net interest
 margin          4.11      4.43               4.19      4.51
Net charge-
 offs as a
 percentage
 of average
 loans and
 leases           .09       .85                .10       .31

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

TCF Financial Corporation ("TCF") (NYSE:TCB) today reported diluted earnings per share of 51 cents for the third quarter of 2006, compared with 50 cents for the same 2005 period. Net income for the third quarter of 2006 was $65.9 million, up from $65.5 million for the third quarter of 2005. The 2006 third quarter includes $1.3 million in pre-tax gains on sales of fixed assets for an after-tax impact of less than one cent per diluted share. The 2005 third quarter included $4.9 million in pre-tax gains on sales of fixed assets and mortgage-backed securities for an after-tax impact of three cents per diluted share.

For the third quarter of 2006, return on average assets ("ROA") was 1.86 percent and return on average common equity ("ROE") was 26.44 percent, compared with 2.07 percent and 27.41 percent, respectively, for the third quarter of 2005.

Diluted earnings per share for the first nine months of 2006 was $1.48, compared with $1.50 for the same 2005 period. The first nine months of 2006 includes $5.8 million in pre-tax gains on sales of fixed assets and mortgage servicing rights for an after-tax impact of three cents per diluted share. The first nine months of 2005 included $20.7 million in pre-tax gains on sales of fixed assets and mortgage-backed securities and a $3.3 million pre-tax commercial loan recovery for a combined after-tax impact of 12 cents per diluted share.

Chief Executive Officer's Statement

"TCF achieved positive results this quarter despite the continued challenging interest rate environment due to the inverted yield curve," said Lynn A. Nagorske, Chief Executive Officer. "Power Asset growth continued to be strong, and net loan and lease charge-offs and delinquencies remain at acceptable levels," said Nagorske.

Total Revenue

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

Net interest income            $135,033  $128,070    $6,963       5.4%
                               --------- --------- ---------
Fees and other revenue:
 Fees and service charges        70,777    70,315       462        .7
 Card revenue                    24,353    21,025     3,328      15.8
 ATM revenue                      9,880    10,646      (766)     (7.2)
 Investments and insurance        3,226     2,682       544      20.3
                               --------- --------- ---------
  Total banking fees and other
   revenue                      108,236   104,668     3,568       3.4
 Leasing and equipment finance   13,372    10,197     3,175      31.1
 Other                            7,904     7,752       152       2.0
                               --------- --------- ---------
   Total fees and other
    revenue                     129,512   122,617     6,895       5.6
                               --------- --------- ---------
 Gains on sales of securities         -       995      (995)   (100.0)
                               --------- --------- ---------
  Total non-interest income     129,512   123,612     5,900       4.8
                               --------- --------- ---------
   Total revenue               $264,545  $251,682   $12,863       5.1
                               ========= ========= =========

Net interest margin (1)            4.11%     4.43%
Fees and other revenue as a %
 of:
 Total revenue                    48.96     48.72
 Average assets (1)                3.65      3.88

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

Net Interest Income

TCF's net interest income in the third quarter of 2006 was $135 million, up $7 million, or 5.4 percent, from the third quarter of 2005 and was essentially flat with the second quarter of 2006. Net interest margin in the third quarter of 2006 was 4.11 percent, compared with 4.43 percent for the third quarter of 2005 and 4.22 percent for the second quarter of 2006. The increase in net interest income from the third quarter of 2005 was primarily attributable to a $1.6 billion, or 13.7 percent, increase in average interest-earning assets, partially offset by the 32 basis point reduction in net interest margin. The decrease in net interest margin from the third quarter of 2005 and the second quarter of 2006 was primarily due to the continued customer preference for lower-yielding fixed-rate loans and higher-cost market-rate deposits due to the flat or inverted yield curve and higher borrowing costs.

Non-interest Income

Total non-interest income was $129.5 million for the third quarter of 2006, up $5.9 million, or 4.8 percent, from the same period of 2005.

Banking fees and service charges were $70.8 million for the third quarter of 2006, up $462 thousand, or .7 percent, from the third quarter of 2005, primarily due to the growth in checking accounts, partially offset by lower customer check volumes.

Card revenues totaled $24.4 million for the third quarter of 2006, up 15.8 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 and also included $1.4 million of Visa interchange revenue holdbacks from previous periods.

For the third quarter of 2006, ATM revenue was $9.9 million, compared with $10.6 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 growth in TCF's fee free checking products, partially offset by the increased number of TCF customers.

Leasing and equipment finance revenues were $13.4 million for the third quarter of 2006, up $3.2 million, or 31.1 percent, from the 2005 third quarter, primarily due to higher operating lease revenues, up $1.8 million from the third quarter of 2005, and higher 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.

Other revenue of $7.9 million in the third quarter of 2006 was essentially flat from the third quarter of 2005 and included a $3.4 million increase in gains on sales of education loans, partially offset by a $1.9 million decrease in gains on sales of fixed assets and an $893 thousand decrease in mortgage banking revenue due to the sale of mortgage servicing rights in the first quarter of 2006. Due to recent legislative changes to student loan programs, TCF has accelerated the timing of certain education loan sales. As a result, TCF sold $104.2 million in education loans in the third quarter of 2006 ahead of past practice.

During the 2005 third quarter, TCF sold $99.5 million of mortgage-backed securities and realized gains of $995 thousand. No such sales or gains occurred in the third quarter of 2006.

New Branch Expansion

TCF opened five new branches during the third quarter of 2006 and closed one branch. TCF has now opened 141 new branches since January 2001, representing 31 percent of TCF's 459 total branches. TCF plans to open eight new branches in the fourth quarter of 2006, consisting of seven traditional branches and one campus branch. TCF also plans to close 12 supermarket branches in the fourth quarter of 2006 in Illinois and Michigan. Eight of these branches will be closed due to the sale of the supermarkets to multiple companies.

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

Total Branches
----------------------------
Minnesota                             107           104            84
Illinois                              203           199           167
Michigan                               63            62            56
Colorado                               44            37            12
Wisconsin                              36            34            32
Indiana                                 6             6             1
                             ------------- ------------- -------------
                                      459           442           352
                             ============= ============= =============


New Branches(a)
----------------------------
  Traditional                          72            59
  Supermarket                          63            55
  Campus                                6             2
                             ------------- -------------
    Total                             141           116
                             ============= =============
      % of Total Branches              31%           26%
                             ============= =============

----------------------------------------------------------------------
(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
                            September 30,
                       -----------------------
($ in thousands)          2006        2005       Change     % Change
                       ----------- ----------- ----------- -----------

Number of checking
 accounts                 268,694     204,358      64,336        31.5%
Average deposits:
 Checking                $415,653    $311,203    $104,450        33.6
 Savings                  318,460     223,268      95,192        42.6
 Money market              36,187      21,521      14,666        68.1
                       ----------- ----------- -----------
  Subtotal                770,300     555,992     214,308        38.5
 Certificates of
  deposit                 496,540     199,447     297,093       149.0
                       ----------- ----------- -----------
  Total deposits       $1,266,840    $755,439    $511,401        67.7
                       =========== =========== ===========

Total fees and other
 revenue (quarter
 ended)                   $19,110     $15,028      $4,082        27.2
                       =========== =========== ===========

Power Assets(R)

TCF's Power Asset lending operations continue to generate strong growth. TCF's average consumer loan balances increased $768 million, or 15.7 percent; average commercial loan balances increased $300.4 million, or 11.3 percent; and leasing and equipment finance balances increased $278.4 million, or 19.5 percent, from the third quarter of 2005.

                     Average Balances for the
                        Three Months Ended
                           September 30,               Change
                     ------------------------- -----------------------
($ in thousands)         2006         2005          $           %
                     ------------ ------------ ----------- -----------
Loans and leases(a):
 Consumer home equity
  and other:
  Home equity:
   First mortgage
    lien              $3,606,754   $3,194,664    $412,090        12.9%
   Junior lien         2,006,413    1,653,032     353,381        21.4
                     ------------ ------------ -----------
    Total consumer
     home equity       5,613,167    4,847,696     765,471        15.8
 Other                    36,978       34,469       2,509         7.3
                     ------------ ------------ -----------
    Total consumer
     home equity and
     other             5,650,145    4,882,165     767,980        15.7
Commercial real
 estate                2,409,237    2,220,563     188,674         8.5
Commercial business      545,363      433,641     111,722        25.8
                     ------------ ------------ -----------
 Total commercial
  loans                2,954,600    2,654,204     300,396        11.3
Leasing and equipment
 finance               1,707,045    1,428,653     278,392        19.5
                     ------------ ------------ -----------
   Power Assets      $10,311,790   $8,965,022  $1,346,768        15.0
                     ============ ============ ===========

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

Power Liabilities(R)

Average Power Liabilities totaled $9.5 billion for the third quarter of 2006, with an average interest rate of 2.22 percent, an increase of $952.6 million, or 11.1 percent, from the third 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 $101.8 million from the third quarter of 2005 due to the sale of mortgage servicing rights in the first quarter of 2006. Average Power Liabilities increased $82.8 million, or 3.5 percent (annualized), from the second quarter of 2006. Growth during the third quarter of 2006 was slower than recent quarters, primarily driven by declines in non-interest bearing checking and other savings, coupled with slower growth in Premier Checking and Premier Savings. The total number of checking accounts was 1,673,680 at September 30, 2006, up 70,507 accounts, or 5.9 percent (annualized) from December 31, 2005.

                        Average Balances for
                       the Three Months Ended
                            September 30,
                       -----------------------
($ in thousands)          2006        2005       Change     % Change
                       ----------- ----------- ----------- -----------
Non-interest bearing
 deposits:
 Retail                $1,484,651  $1,539,893    $(55,242)      (3.6)%
 Small business           615,119     600,374      14,745         2.5
 Commercial and
  custodial               209,365     325,025    (115,660)      (35.6)
                       ----------- ----------- -----------
  Total non-interest
   bearing deposits     2,309,135   2,465,292    (156,157)       (6.3)
Interest-bearing
 deposits:
 Premier checking       1,021,560     694,835     326,725        47.0
 Other checking           840,966   1,004,507    (163,541)      (16.3)
                       ----------- ----------- -----------
  Subtotal              1,862,526   1,699,342     163,184         9.6
 Premier savings          942,760     436,690     506,070       115.9
 Other savings          1,350,659   1,549,451    (198,792)      (12.8)
                       ----------- ----------- -----------
  Subtotal              2,293,419   1,986,141     307,278        15.5
 Money market             609,997     632,293     (22,296)       (3.5)
                       ----------- ----------- -----------
  Subtotal              4,765,942   4,317,776     448,166        10.4
 Certificates of
  deposit               2,431,364   1,770,805     660,559        37.3
                       ----------- ----------- -----------
  Total interest-
   bearing deposits     7,197,306   6,088,581   1,108,725        18.2
                       ----------- ----------- -----------
  Power Liabilities    $9,506,441  $8,553,873    $952,568        11.1
                       =========== =========== ===========

Average rate on
 deposits                    2.22%       1.23%       99bps        N/A

----------------------------------------------------------------------
N/A Not Applicable.
    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 $2.5 billion for the third quarter of 2006, an increase of $263.6 million from the third quarter of 2005. The increase was primarily due to mortgage-backed securities purchases of $245.5 million in the first quarter of 2006. At September 30, 2006, the unrealized pre-tax loss on TCF's securities available for sale portfolio was $39.9 million.

                        Average Balances for
                       the Three Months Ended
                            September 30,              Change
                       ----------------------- -----------------------
($ in thousands)          2006        2005          $           %
                       ----------- ----------- ----------- -----------
Securities available
 for sale              $1,829,917  $1,393,742    $436,175        31.3%
Residential real
 estate loans             676,454     849,069    (172,615)      (20.3)
                       ----------- ----------- -----------
         Total         $2,506,371  $2,242,811    $263,560        11.8
                       =========== =========== ===========

Non-interest Expense

Non-interest expense totaled $164.8 million for the third quarter of 2006, up $10.8 million, or 7 percent, from $153.9 million for the third quarter of 2005, primarily due to branch expansion totaling $5.6 million and a $1.8 million increase in operating lease depreciation.

Compensation and employee benefits increased $4.4 million, or 5.5 percent, from the third quarter of 2005, primarily driven by a $2.3 million increase attributable to branch expansion.

Occupancy and equipment expenses increased $2.7 million, or 10.5 percent, from the third quarter of 2005, primarily due to $1.4 million associated with branch expansion.

Advertising and promotions expenses increased $1.6 million, or 25 percent, from the third quarter of 2005, primarily due to increased promotional expenses for new customers and increased advertising.

Operating lease depreciation increased $1.8 million from the third quarter of 2005, primarily driven by a $39.2 million increase in average operating lease balances in TCF's leasing and equipment finance subsidiaries.

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

Compensation and employee
 benefits                       $84,795   $80,402    $4,393      5.5 %
Occupancy and equipment          28,664    25,931     2,733     10.5
Advertising and promotions        8,220     6,578     1,642     25.0
Deposit account losses            6,633     6,591        42       .6
Operating lease depreciation      3,779     2,008     1,771     88.2
Other                            32,669    32,403       266       .8
                               --------- --------- ---------
  Total non-interest expense   $164,760  $153,913   $10,847      7.0
                               ========= ========= =========

Credit Quality

At September 30, 2006, TCF's allowance for loan and lease losses totaled $59.7 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 third quarter of 2006 was $2.9 million, down $477 thousand from the third quarter of 2005. Net loan and lease charge-offs in the third quarter of 2006 were $2.5 million, or .09 percent (annualized) of average loans and leases, compared with net charge-offs of $20.8 million, or .85 percent (annualized) for the same 2005 period. In the third quarter of 2005, TCF charged off its $18.8 million investment in a leveraged lease. Net loan and lease charge-offs excluding the leveraged lease loss were $2 million, or .08 percent (annualized) of average loans and leases for the third quarter of 2005.

At September 30, 2006, TCF's over-30-day delinquency rate was .45 percent, up slightly from .43 percent at December 31, 2005. Non-accrual loans and leases were $27.3 million, or .25 percent of net loans and leases, at September 30, 2006, compared with $29.6 million, or .29 percent, at December 31, 2005. Total non-performing assets were $55.1 million, or .39 percent of total assets, at September 30, 2006, up from $47.4 million, or .35 percent, at December 31, 2005, primarily due to an increase in commercial real estate.

                               Three Months Ended   Nine Months Ended
                                  September 30,       September 30,
                               ------------------- -------------------
($ in thousands)                 2006      2005      2006      2005
                               --------- --------- --------- ---------
Allowance for loan and lease
 losses:
 Balance at beginning of
  period                        $59,246   $76,406   $60,396   $79,878
   Net (charge-offs)
    recoveries:
     Consumer home equity and
      other                      (1,584)     (886)   (4,342)   (3,211)
     Commercial real estate        (148)      (34)     (217)      (68)
     Commercial business             23      (140)     (302)    2,330
     Leasing and equipment
      finance                      (745)  (19,690)   (3,280)  (21,217)
     Residential real estate        (38)      (34)     (105)      (81)
                               --------- --------- --------- ---------
       Total                     (2,492)  (20,784)   (8,246)  (22,247)
  Provision for credit losses     2,917     3,394     7,521     1,385
                               --------- --------- --------- ---------
Balance at end of period        $59,671   $59,016   $59,671   $59,016
                               ========= ========= ========= =========

Income Taxes

TCF's income tax expense was $30.9 million for the third quarter of 2006, or 31.94 percent of income before income tax expense, up from $28.9 million, or 30.61 percent, for the comparable 2005 period. The third quarter of 2006 includes a reduction of income tax expense of $1.2 million related to favorable developments in uncertain tax positions including the closing of certain previous years' tax returns and developments in income tax audits. The third quarter of 2005 included a reduction in the effective income tax rate related to the increased effect of permanent differences as a percentage of pre-tax income and lower expected state income taxes.

Capital

During the third quarter of 2006, TCF repurchased 500 thousand shares of its common stock at an average cost of $27.10 per share. TCF has 3.3 million shares remaining in its stock repurchase program authorized by its Board of Directors.


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

Stockholders' equity   $1,031,189                $967,069
Stockholders' equity to
 total assets                7.21%                   7.59%
Book value per common
 share                      $7.88                   $7.23

Tier 1 risk-based
 capital                 $902,588        8.69%   $824,690        8.72%
Total risk-based
 capital                1,162,634       11.20   1,008,858       10.66
Total risk-based
 capital "well-
 capitalized"
 requirement            1,038,216       10.00     946,220       10.00
Excess total risk-based
 capital over "well-
 capitalized"
 requirement              124,418        1.20      62,638         .66

Website Information

A live webcast of TCF's conference call to discuss third quarter earnings will be hosted at TCF's website, www.tcfexpress.com, on October 18, 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 $14.3 billion in assets. TCF has 459 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
                                  September 30,
                               -------------------
                                 2006      2005     $Change  % Change
                               --------- --------- --------- ---------
Interest income:
 Loans and leases              $199,469  $163,178   $36,291      22.2%
 Securities available for sale   24,481    17,893     6,588      36.8
 Education loans held for sale    3,438     2,759       679      24.6
 Investments                        862       463       399      86.2
                               --------- --------- ---------
  Total interest income         228,250   184,293    43,957      23.9
                               --------- --------- ---------
Interest expense:
 Deposits                        53,234    26,539    26,695     100.6
 Borrowings                      39,983    29,684    10,299      34.7
                               --------- --------- ---------
  Total interest expense         93,217    56,223    36,994      65.8
                               --------- --------- ---------
   Net interest income          135,033   128,070     6,963       5.4
Provision for credit losses       2,917     3,394      (477)    (14.1)
                               --------- --------- ---------
  Net interest income after
   provision for credit losses  132,116   124,676     7,440       6.0
                               --------- --------- ---------
Non-interest income:
 Fees and service charges        70,777    70,315       462        .7
 Card revenue                    24,353    21,025     3,328      15.8
 ATM revenue                      9,880    10,646      (766)     (7.2)
 Investments and insurance
  revenue                         3,226     2,682       544      20.3
                               --------- --------- ---------
  Subtotal                      108,236   104,668     3,568       3.4
 Leasing and equipment finance   13,372    10,197     3,175      31.1
 Other                            7,904     7,752       152       2.0
                               --------- --------- ---------
  Fees and other revenue        129,512   122,617     6,895       5.6
 Gains on sales of securities
  available for sale                  -       995      (995)   (100.0)
                               --------- --------- ---------
   Total non-interest income    129,512   123,612     5,900       4.8
                               --------- --------- ---------
Non-interest expense:
 Compensation and employee
  benefits                       84,795    80,402     4,393       5.5
 Occupancy and equipment         28,664    25,931     2,733      10.5
 Advertising and promotions       8,220     6,578     1,642      25.0
 Deposit account losses           6,633     6,591        42        .6
 Operating lease depreciation     3,779     2,008     1,771      88.2
 Other                           32,669    32,403       266        .8
                               --------- --------- ---------
  Total non-interest expense    164,760   153,913    10,847       7.0
                               --------- --------- ---------
   Income before income tax
    expense                      96,868    94,375     2,493       2.6
Income tax expense               30,941    28,889     2,052       7.1
                               --------- --------- ---------
   Net income                   $65,927   $65,486      $441        .7
                               ========= ========= =========

Net income per common share:
 Basic                             $.51      $.50      $.01       2.0
                               ========= ========= =========
 Diluted                           $.51      $.50      $.01       2.0
                               ========= ========= =========

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

Average common and common
 equivalent shares outstanding
 (in thousands):
  Basic                         128,408   131,702    (3,294)     (2.5)
                               ========= ========= =========
  Diluted                       128,605   132,052    (3,447)     (2.6)
                               ========= ========= =========
              TCF FINANCIAL CORPORATION AND SUBSIDIARIES
                  CONSOLIDATED STATEMENTS OF INCOME
            (Dollars in thousands, except per-share data)
                             (Unaudited)


                                Nine Months Ended
                                  September 30,
                               -------------------
                                 2006      2005     $Change  % Change
                               --------- --------- --------- ---------
Interest income:
 Loans and leases              $565,440  $464,736  $100,704      21.7%
 Securities available for sale   73,336    60,713    12,623      20.8
 Education loans held for sale   11,990     7,579     4,411      58.2
 Investments                      2,331     2,609      (278)    (10.7)
                               --------- --------- ---------
  Total interest income         653,097   535,637   117,460      21.9
                               --------- --------- ---------
Interest expense:
 Deposits                       139,328    63,123    76,205     120.7
 Borrowings                     112,126    84,106    28,020      33.3
                               --------- --------- ---------
  Total interest expense        251,454   147,229   104,225      70.8
                               --------- --------- ---------
   Net interest income          401,643   388,408    13,235       3.4
Provision for credit losses       7,521     1,385     6,136       N.M.
                               --------- --------- ---------
  Net interest income after
   provision for credit losses  394,122   387,023     7,099       1.8
                               --------- --------- ---------
Non-interest income:
 Fees and service charges       203,431   195,008     8,423       4.3
 Card revenue                    68,599    58,384    10,215      17.5
 ATM revenue                     28,741    31,173    (2,432)     (7.8)
 Investments and insurance
  revenue                         8,608     8,326       282       3.4
                               --------- --------- ---------
  Subtotal                      309,379   292,891    16,488       5.6
 Leasing and equipment finance   37,839    31,982     5,857      18.3
 Other                           23,415    17,760     5,655      31.8
                               --------- --------- ---------
  Fees and other revenue        370,633   342,633    28,000       8.2
 Gains on sales of securities
  available for sale                  -    10,671   (10,671)   (100.0)
                               --------- --------- ---------
   Total non-interest income    370,633   353,304    17,329       4.9
                               --------- --------- ---------
Non-interest expense:
 Compensation and employee
  benefits                      256,046   243,826    12,220       5.0
 Occupancy and equipment         84,713    76,081     8,632      11.3
 Advertising and promotions      20,691    19,603     1,088       5.6
 Deposit account losses          16,319    13,866     2,453      17.7
 Operating lease depreciation    10,347     5,171     5,176     100.1
 Other                           98,614    93,563     5,051       5.4
                               --------- --------- ---------
  Total non-interest expense    486,730   452,110    34,620       7.7
                               --------- --------- ---------
   Income before income tax
    expense                     278,025   288,217   (10,192)     (3.5)
Income tax expense               86,815    88,625    (1,810)     (2.0)
                               --------- --------- ---------
   Net income                  $191,210  $199,592   $(8,382)     (4.2)
                               ========= ========= =========

Net income per common share:
 Basic                            $1.48     $1.50     $(.02)     (1.3)
                               ========= ========= =========
 Diluted                          $1.48     $1.50     $(.02)     (1.3)
                               ========= ========= =========

Dividends declared per common
 share                             $.69    $.6375    $.0525       8.2
                               ========= ========= =========

Average common and common
 equivalent shares outstanding
 (in thousands):
  Basic                         129,279   132,692    (3,413)     (2.6)
                               ========= ========= =========
  Diluted                       129,465   133,054    (3,589)     (2.7)
                               ========= ========= =========


N.M. Not Meaningful.
              TCF FINANCIAL CORPORATION AND SUBSIDIARIES
            CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
            (Dollars in thousands, except per-share data)


                                                        % Change from
                                                       ---------------
                     At           At           At       Dec.   Sept.
                 Sept. 30,     Dec. 31,    Sept. 30,     31,     30,
                    2006         2005         2005      2005    2005
                ------------ ------------ ------------ ------- -------
                (Unaudited)               (Unaudited)
ASSETS

Cash and due
 from banks        $323,505     $374,701     $361,595  (13.7)% (10.5)%
Investments          82,801       79,943       79,583     3.6     4.0
Securities
 available for
 sale             1,770,427    1,648,615    1,318,787     7.4    34.2
Education loans
 held for sale      140,240      229,820      230,571   (39.0)  (39.2)
Loans and
 leases:
 Consumer home
  equity and
  other           5,780,953    5,187,584    5,035,661    11.4    14.8
 Commercial real
  estate          2,414,058    2,297,500    2,241,069     5.1     7.7
 Commercial
  business          546,517      435,233      438,028    25.6    24.8
 Leasing and
  equipment
  finance         1,736,801    1,503,794    1,424,317    15.5    21.9
                ------------ ------------ ------------
  Subtotal       10,478,329    9,424,111    9,139,075    11.2    14.7
 Residential
  real estate       659,476      770,441      815,893   (14.4)  (19.2)
                ------------ ------------ ------------
  Total loans
   and leases    11,137,805   10,194,552    9,954,968     9.3    11.9
 Allowance for
  loan and lease
  losses            (59,671)     (60,396)     (59,016)    1.2    (1.1)
                ------------ ------------ ------------
  Net loans and
   leases        11,078,134   10,134,156    9,895,952     9.3    11.9
Premises and
 equipment          393,283      365,146      352,154     7.7    11.7
Goodwill            152,599      152,599      152,599       -       -
Other assets        356,122      380,380      345,848    (6.4)    3.0
                ------------ ------------ ------------
                $14,297,111  $13,365,360  $12,737,089     7.0    12.2
                ============ ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Deposits:
 Checking        $4,299,646   $4,279,853   $4,218,993      .5     1.9
 Savings          2,314,740    2,238,204    2,140,483     3.4     8.1
 Money market       592,134      677,017      632,367   (12.5)   (6.4)
                ------------ ------------ ------------
  Subtotal        7,206,520    7,195,074    6,991,843      .2     3.1
 Certificates of
  deposit         2,454,469    1,915,620    1,866,425    28.1    31.5
                ------------ ------------ ------------
  Total deposits  9,660,989    9,110,694    8,858,268     6.0     9.1
                ------------ ------------ ------------
Short-term
 borrowings         376,397      472,126    1,084,933   (20.3)  (65.3)
Long-term
 borrowings       2,976,133    2,511,010    1,547,690    18.5    92.3
                ------------ ------------ ------------
  Total
   borrowings     3,352,530    2,983,136    2,632,623    12.4    27.3
Accrued expenses
 and other
 liabilities        252,403      273,058      279,129    (7.6)   (9.6)
                ------------ ------------ ------------
  Total
   liabilities   13,265,922   12,366,888   11,770,020     7.3    12.7
                ------------ ------------ ------------
Stockholders'
 equity:
 Common stock,
  par value $.01
  per share,
  280,000,000
  shares
  authorized;
  184,180,118;
  184,386,193
  and
  184,395,593
  shares issued       1,842        1,844        1,844     (.1)    (.1)
 Additional
  paid-in
  capital           469,642      476,884      475,347    (1.5)   (1.2)
 Retained
  earnings,
  subject to
  certain
  restrictions    1,636,805    1,536,611    1,499,427     6.5     9.2
 Accumulated
  other
  comprehensive
  loss              (25,857)     (21,215)     (13,596)  (21.9)  (90.2)
 Treasury stock
  at cost,
  53,269,813;
  50,609,970 and
  50,645,520
  shares, and
  other          (1,051,243)    (995,652)    (995,953)   (5.6)   (5.6)
                ------------ ------------ ------------
   Total stock-
    holders'
    equity        1,031,189      998,472      967,069     3.3     6.6
                ------------ ------------ ------------
                $14,297,111  $13,365,360  $12,737,089     7.0    12.2
                ============ ============ ============
               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 September
                                           30, 2006
                         --------------------------------------------


                                                  Net Charge-offs
                                    Allowance     (Recoveries) (1)
                                    as a % of  ----------------------
                         Allowance  Portfolio      $           %
                         ---------- ---------- ---------- -----------
 Consumer home equity and
  other                    $18,032        .31 %   $1,584         .11%
 Commercial real estate     22,019        .91        148         .02
 Commercial business         7,046       1.29        (23)       (.02)
 Leasing and equipment
  finance                   12,021        .69        745         .17
 Residential real estate       553        .08         38         .02
                         ----------            ----------
   Total                   $59,671        .54     $2,492         .09
                         ==========            ==========


                          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     -------------------
                     Sept. 30, Dec. 31,  Sept. 30, Dec. 31,  Sept. 30,
                       2006      2005      2005      2005      2005
                     --------- --------- --------- --------- ---------
 Non-accrual loans
  and leases:
  Consumer home
   equity and other   $12,363   $18,410    $9,849   $(6,047)   $2,514
  Commercial real
   estate               5,226       188       188     5,038     5,038
  Commercial
   business             1,337     2,207     2,328      (870)     (991)
  Leasing and
   equipment finance    6,133     6,434     6,808      (301)     (675)
  Residential real
   estate               2,209     2,409     2,515      (200)     (306)
                     --------- --------- --------- --------- ---------
   Total non-accrual
    loans and leases   27,268    29,648    21,688    (2,380)    5,580
 Other real estate
  owned:
  Residential real
   estate              20,712    14,877    13,919     5,835     6,793
  Commercial real
   estate               7,156     2,834     2,886     4,322     4,270
                     --------- --------- --------- --------- ---------
   Total other real
    estate owned       27,868    17,711    16,805    10,157    11,063
                     --------- --------- --------- --------- ---------
  Total non-
   performing assets  $55,136   $47,359   $38,493    $7,777   $16,643
                     ========= ========= ========= ========= =========
Over 30-day
 delin-
 quency
 data (2):
-----------

            At September 30,    At December 31,     At September 30,
                   2006                2005                2005
           ------------------- ------------------- -------------------

           Principal   % of    Principal   % of    Principal   % of
           Balances  Portfolio Balances  Portfolio Balances  Portfolio
           --------- --------- --------- --------- --------- ---------
 Consumer
  home
  equity
  and other $25,808       .45 % $18,556       .36 % $17,351       .35%
 Commercial
  real
  estate      4,697       .19    10,038       .44        36         -
 Commercial
  business      340       .06       819       .19       370       .08
 Leasing
  and
  equipment
  finance     8,849       .51     6,182       .41     5,651       .40
 Residen-
  tial real
  estate     10,018      1.52     8,009      1.04     7,610       .94
           ---------           ---------           ---------
   Total    $49,712       .45   $43,604       .43   $31,018       .31
           =========           =========           =========
                                                       Change from
                        At        At        At     -------------------
                     Sept. 30, Dec. 31,  Sept. 30, Dec. 31,  Sept. 30,
                       2006      2005      2005      2005      2005
                     --------- --------- --------- --------- ---------
 Accruing loans and
  leases 90 or more
  days past due        $9,243    $6,475    $5,011    $2,768    $4,232
                     ========= ========= ========= ========= =========


Potential Problem
 Loans and Leases
 (3):                                                  Change from
--------------------    At        At        At     -------------------
                     Sept. 30, Dec. 31,  Sept. 30, Dec. 31,  Sept. 30,
                       2006      2005      2005      2005      2005
                     --------- --------- --------- --------- ---------
 Commercial real
  estate              $25,878   $35,341   $28,228   $(9,463)  $(2,350)
 Commercial
  business             12,493    11,793    13,367       700      (874)
 Leasing and
  equipment finance    11,707     7,648     9,850     4,059     1,857
                     --------- --------- --------- --------- ---------
                      $50,078   $54,782   $51,445   $(4,704)  $(1,367)
                     ========= ========= ========= ========= =========

(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 September 30,
                                    ----------------------------------
                                                 2006
                                    --------------------------------

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

ASSETS

  Investments                           $72,393      $862      4.74%
  Securities available for sale       1,829,917    24,481      5.35
  Education loans held for sale         190,724     3,438      7.15
  Loans and leases:
   Consumer home equity:
     Fixed-rate                       4,027,680    69,705      6.87
     Variable-rate                    1,585,487    35,605      8.91
   Consumer - other                      36,978       961     10.31
                                    ------------ ---------
         Total consumer home equity
          and other                   5,650,145   106,271      7.46
   Commercial real estate:
     Fixed- and adjustable-rate       1,699,431    26,936      6.29
     Variable-rate                      709,806    14,256      7.97
                                    ------------ ---------
         Total commercial real
          estate                      2,409,237    41,192      6.78
   Commercial business:
     Fixed- and adjustable-rate         142,293     2,265      6.32
     Variable-rate                      403,070     7,724      7.60
                                    ------------ ---------
         Total commercial business      545,363     9,989      7.27
   Leasing and equipment finance      1,707,045    32,174      7.54
                                    ------------ ---------
     Subtotal                        10,311,790   189,626      7.31
   Residential real estate              676,454     9,843      5.81
                                    ------------ ---------
     Total loans and leases          10,988,244   199,469      7.21
                                    ------------ ---------

         Total interest-earning
          assets                     13,081,278   228,250      6.94
                                    ------------ ---------

  Other assets                        1,125,110
                                    ------------

   Total assets                     $14,206,388
                                    ============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                            $1,484,651
   Small business                       615,119
   Commercial and custodial             209,365
                                    ------------
     Total non-interest bearing
      deposits                        2,309,135
  Interest-bearing deposits:
   Premier checking                   1,021,560     8,389      3.26
   Other checking                       840,966       485       .23
                                    ------------ ---------
     Subtotal                         1,862,526     8,874      1.89
   Premier savings                      942,760    10,291      4.33
   Other savings                      1,350,659     3,240       .95
                                    ------------ ---------
     Subtotal                         2,293,419    13,531      2.34
   Money market                         609,997     4,062      2.64
                                    ------------ ---------
     Subtotal                         4,765,942    26,467      2.20
   Certificates of deposit            2,431,364    26,767      4.37
                                    ------------ ---------
     Total interest-bearing deposits  7,197,306    53,234      2.93
                                    ------------ ---------

         Total deposits               9,506,441    53,234      2.22
                                    ------------ ---------

  Borrowings:
   Short-term borrowings                619,683     8,372      5.36
   Long-term borrowings               2,780,532    31,611      4.51
                                    ------------ ---------
         Total borrowings             3,400,215    39,983      4.67
                                    ------------ ---------

   Total deposits and borrowings     12,906,656    93,217      2.87
                                    ------------ ---------

  Other liabilities                     302,513
                                    ------------

   Total liabilities                 13,209,169

  Stockholders' equity                  997,219
                                    ------------

   Total liabilities and
         stockholders' equity       $14,206,388
                                    ============


Net interest income and margin                   $135,033      4.11%
                                                 ========= =========

(1) Annualized.



                                     Three Months Ended September 30,
                                    ----------------------------------
                                                   2005
                                     ---------------------------------


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

ASSETS

  Investments                            $91,355      $463       2.02%
  Securities available for sale        1,393,742    17,893       5.14
  Education loans held for sale          206,850     2,759       5.29
  Loans and leases:
   Consumer home equity:
     Fixed-rate                        2,454,762    41,317       6.68
     Variable-rate                     2,392,934    43,543       7.22
   Consumer - other                       34,469       815       9.38
                                     ------------ ---------
         Total consumer home equity
          and other                    4,882,165    85,675       6.96
   Commercial real estate:
     Fixed- and adjustable-rate        1,398,341    21,687       6.15
     Variable-rate                       822,222    13,003       6.27
                                     ------------ ---------
         Total commercial real
          estate                       2,220,563    34,690       6.20
   Commercial business:
     Fixed- and adjustable-rate           85,611     1,268       5.88
     Variable-rate                       348,030     5,284       6.02
                                     ------------ ---------
         Total commercial business       433,641     6,552       5.99
   Leasing and equipment finance       1,428,653    24,082       6.74
                                     ------------ ---------
     Subtotal                          8,965,022   150,999       6.69
   Residential real estate               849,069    12,179       5.73
                                     ------------ ---------
     Total loans and leases            9,814,091   163,178       6.61
                                     ------------ ---------

         Total interest-earning
          assets                      11,506,038   184,293       6.37
                                     ------------ ---------

  Other assets                         1,125,499
                                     ------------

   Total assets                      $12,631,537
                                     ============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                             $1,539,893
   Small business                        600,374
   Commercial and custodial              325,025
                                     ------------
     Total non-interest bearing
      deposits                         2,465,292
  Interest-bearing deposits:
   Premier checking                      694,835     4,654       2.66
   Other checking                      1,004,507       593        .23
                                     ------------ ---------
     Subtotal                          1,699,342     5,247       1.22
   Premier savings                       436,690     3,529       3.21
   Other savings                       1,549,451     2,612        .67
                                     ------------ ---------
     Subtotal                          1,986,141     6,141       1.23
   Money market                          632,293     2,091       1.31
                                     ------------ ---------
     Subtotal                          4,317,776    13,479       1.24
   Certificates of deposit             1,770,805    13,060       2.93
                                     ------------ ---------
     Total interest-bearing deposits   6,088,581    26,539       1.73
                                     ------------ ---------

         Total deposits                8,553,873    26,539       1.23
                                     ------------ ---------

  Borrowings:
   Short-term borrowings               1,037,240     9,212       3.52
   Long-term borrowings                1,757,968    20,472       4.62
                                     ------------ ---------
         Total borrowings              2,795,208    29,684       4.22
                                     ------------ ---------

   Total deposits and borrowings      11,349,081    56,223       1.97
                                     ------------ ---------

  Other liabilities                      326,976
                                     ------------

   Total liabilities                  11,676,057

  Stockholders' equity                   955,480
                                     ------------

   Total liabilities and
         stockholders' equity        $12,631,537
                                     ============


Net interest income and margin                    $128,070       4.43%
                                                  ========= ==========

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



                                      Nine Months Ended September 30,
                                     ---------------------------------
                                                  2006
                                     --------------------------------

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

ASSETS

  Investments                            $70,748    $2,331      4.40%
  Securities available for sale        1,830,902    73,336      5.34
  Education loans held for sale          233,135    11,990      6.88
  Loans and leases:
   Consumer home equity:
      Fixed-rate                       3,702,181   188,288      6.80
      Variable-rate                    1,712,454   109,940      8.58
   Consumer - other                       35,563     2,675     10.06
                                     ------------ ---------
         Total consumer home equity
          and other                    5,450,198   300,903      7.38
   Commercial real estate:
      Fixed- and adjustable-rate       1,647,602    76,869      6.24
      Variable-rate                      731,770    41,478      7.58
                                     ------------ ---------
         Total commercial real
          estate                       2,379,372   118,347      6.65
   Commercial business:
      Fixed- and adjustable-rate         128,677     5,983      6.22
      Variable-rate                      370,094    20,299      7.33
                                     ------------ ---------
         Total commercial business       498,771    26,282      7.05
   Leasing and equipment finance       1,622,257    88,830      7.30
                                     ------------ ---------
      Subtotal                         9,950,598   534,362      7.18
   Residential real estate               713,947    31,078      5.81
                                     ------------ ---------
      Total loans and leases          10,664,545   565,440      7.09
                                     ------------ ---------

         Total interest-earning
          assets                      12,799,330   653,097      6.82
                                     ------------ ---------

  Other assets                         1,131,129
                                     ------------

   Total assets                      $13,930,459
                                     ============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                             $1,531,943
   Small business                        603,469
   Commercial and custodial              241,720
                                     ------------
      Total non-interest bearing
       deposits                        2,377,132
  Interest-bearing deposits:
   Premier checking                      987,094    23,343      3.16
   Other checking                        881,323     1,553       .24
                                     ------------ ---------
      Subtotal                         1,868,417    24,896      1.78
   Premier savings                       860,191    26,202      4.07
   Other savings                       1,402,084     9,324       .89
                                     ------------ ---------
      Subtotal                         2,262,275    35,526      2.10
   Money market                          629,904    11,037      2.34
                                     ------------ ---------
      Subtotal                         4,760,596    71,459      2.01
   Certificates of deposit             2,230,458    67,869      4.07
                                     ------------ ---------
      Total interest-bearing
       deposits                        6,991,054   139,328      2.66
                                     ------------ ---------

         Total deposits                9,368,186   139,328      1.99
                                     ------------ ---------

  Borrowings:
   Short-term borrowings                 622,455    23,015      4.94
   Long-term borrowings                2,656,410    89,111      4.48
                                     ------------ ---------
         Total borrowings              3,278,865   112,126      4.57
                                     ------------ ---------

   Total deposits and borrowings      12,647,051   251,454      2.66
                                     ------------ ---------

  Other liabilities                      304,525
                                     ------------

   Total liabilities                  12,951,576

  Stockholders' equity                   978,883
                                     ------------

   Total liabilities and
         stockholders' equity        $13,930,459
                                     ============


 Net interest income and margin                   $401,643      4.19%
                                                  ========= =========


(1) Annualized.



                                      Nine Months Ended September 30,
                                      --------------------------------
                                                    2005
                                        ------------------------------
                                                               Yields
                                                                 and
                                          Average               Rates
                                           Balance    Interest   (1)
                                        ------------ --------- -------

ASSETS

  Investments                               $99,502    $2,609    3.50%
  Securities available for sale           1,567,059    60,713    5.17
  Education loans held for sale             209,184     7,579    4.84
  Loans and leases:
   Consumer home equity:
      Fixed-rate                          2,088,550   104,784    6.71
      Variable-rate                       2,561,936   130,074    6.79
   Consumer - other                          34,836     2,379    9.13
                                        ------------ ---------
         Total consumer home equity
          and other                       4,685,322   237,237    6.77
   Commercial real estate:
      Fixed- and adjustable-rate          1,363,805    62,664    6.14
      Variable-rate                         832,689    35,775    5.74
                                        ------------ ---------
         Total commercial real estate     2,196,494    98,439    5.99
   Commercial business:
      Fixed- and adjustable-rate             78,117     3,368    5.76
      Variable-rate                         346,674    14,379    5.55
                                        ------------ ---------
         Total commercial business          424,791    17,747    5.59
   Leasing and equipment finance          1,410,381    72,006    6.81
                                        ------------ ---------
      Subtotal                            8,716,988   425,429    6.52
   Residential real estate                  917,240    39,307    5.72
                                        ------------ ---------
      Total loans and leases              9,634,228   464,736    6.45
                                        ------------ ---------

         Total interest-earning assets   11,509,973   535,637    6.22
                                        ------------ ---------

  Other assets                            1,099,713
                                        ------------

   Total assets                         $12,609,686
                                        ============

LIABILITIES AND STOCKHOLDERS' EQUITY

  Non-interest bearing deposits:
   Retail                                $1,566,767
   Small business                           573,240
   Commercial and custodial                 316,749
                                        ------------
      Total non-interest bearing
       deposits                           2,456,756
  Interest-bearing deposits:
   Premier checking                         578,967     9,709    2.24
   Other checking                         1,056,178     1,517     .19
                                        ------------ ---------
      Subtotal                            1,635,145    11,226     .92
   Premier savings                          355,164     7,340    2.76
   Other savings                          1,586,367     6,394     .54
                                        ------------ ---------
      Subtotal                            1,941,531    13,734     .95
   Money market                             637,696     4,726     .99
                                        ------------ ---------
      Subtotal                            4,214,372    29,686     .94
   Certificates of deposit                1,691,121    33,437    2.64
                                        ------------ ---------
      Total interest-bearing deposits     5,905,493    63,123    1.43
                                        ------------ ---------

         Total deposits                   8,362,249    63,123    1.01
                                        ------------ ---------

  Borrowings:
   Short-term borrowings                    977,750    22,200    3.04
   Long-term borrowings                   1,981,558    61,906    4.18
                                        ------------ ---------
         Total borrowings                 2,959,308    84,106    3.80
                                        ------------ ---------

   Total deposits and borrowings         11,321,557   147,229    1.74
                                        ------------ ---------

  Other liabilities                         348,543
                                        ------------

   Total liabilities                     11,670,100

  Stockholders' equity                      939,586
                                        ------------

   Total liabilities and
         stockholders' equity           $12,609,686
                                        ============


 Net interest income and margin                      $388,408    4.51%
                                                     ========= =======


(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
                     -------------------------------------------------
                     Sep. 30,  Jun. 30,  Mar. 31,  Dec. 31,  Sep. 30,
                       2006      2006      2006      2005      2005
                     --------- --------- --------- --------- ---------
Interest income:
  Loans and leases   $199,469  $188,988  $176,983  $171,436  $163,178
  Securities
   available for
   sale                24,481    25,156    23,699    20,766    17,893
  Education loans
   held for sale        3,438     4,205     4,347     3,342     2,759
  Investments             862       792       677       841       463
                     --------- --------- --------- --------- ---------
    Total interest
     income           228,250   219,141   205,706   196,385   184,293
                     --------- --------- --------- --------- ---------
Interest expense:
  Deposits             53,234    46,247    39,847    34,283    26,539
  Borrowings           39,983    37,452    34,691    32,820    29,684
                     --------- --------- --------- --------- ---------
    Total interest
     expense           93,217    83,699    74,538    67,103    56,223
                     --------- --------- --------- --------- ---------
       Net interest
        income        135,033   135,442   131,168   129,282   128,070
Provision for credit
 losses                 2,917     3,097     1,507     3,637     3,394
                     --------- --------- --------- --------- ---------
    Net interest
     income after
     provision for
     credit losses    132,116   132,345   129,661   125,645   124,676
                     --------- --------- --------- --------- ---------
Non-interest income:
  Fees and service
   charges             70,777    71,099    61,555    67,716    70,315
  Card revenue         24,353    22,984    21,262    21,419    21,025
  ATM revenue           9,880     9,762     9,099     9,557    10,646
  Investments and
   insurance revenue    3,226     2,894     2,488     2,339     2,682
                     --------- --------- --------- --------- ---------
    Subtotal          108,236   106,739    94,404   101,031   104,668
  Leasing and
   equipment finance   13,372    12,552    11,915    15,405    10,197
  Other                 7,904     4,331    11,180     8,590     7,752
                     --------- --------- --------- --------- ---------
    Fees and other
     revenue          129,512   123,622   117,499   125,026   122,617
  Gains on sales of
   securities
   available for sale       -         -         -         -       995
                     --------- --------- --------- --------- ---------
       Total non-
        interest
        income        129,512   123,622   117,499   125,026   123,612
                     --------- --------- --------- --------- ---------
Non-interest
 expense:
  Compensation and
   employee benefits   84,795    85,083    86,168    82,700    80,402
  Occupancy and
   equipment           28,664    27,998    28,051    27,819    25,931
  Advertising and
   promotions           8,220     6,755     5,716     6,088     6,578
  Deposit account
   losses               6,633     5,673     4,013     6,607     6,591
  Operating lease
   depreciation         3,779     3,405     3,163     2,164     2,008
  Other                32,669    33,132    32,813    33,100    32,403
                     --------- --------- --------- --------- ---------
    Total non-
     interest
     expense          164,760   162,046   159,924   158,478   153,913
                     --------- --------- --------- --------- ---------
       Income before
        income tax
        expense        96,868    93,921    87,236    92,193    94,375
Income tax expense     30,941    26,860    29,014    26,653    28,889
                     --------- --------- --------- --------- ---------
    Net income        $65,927   $67,061   $58,222   $65,540   $65,486
                     ========= ========= ========= ========= =========

Net income per
 common share:
  Basic                  $.51      $.52      $.45      $.50      $.50
                     ========= ========= ========= ========= =========
  Diluted                $.51      $.52      $.45      $.50      $.50
                     ========= ========= ========= ========= =========

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

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

Return on average
 assets (1)              1.86%     1.92%     1.71%     2.01%     2.07%
Return on average
 common equity (1)      26.44     27.75     23.82     27.09     27.41
Net interest margin
 (1)                     4.11      4.22      4.25      4.31      4.43
Net charge-offs as a
 percentage of
 average loans and
 leases (1)               .09       .12       .10       .09       .85
Average total equity
 to average assets       7.02%     6.92%     7.18%     7.40%     7.56%

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



                                              Sep. 30,     Jun. 30,
                                               2006         2006
                                            ------------ ------------

ASSETS

Cash and due from banks                        $322,484     $325,715
Investments                                      72,393       69,176
Securities available for sale                 1,829,917    1,880,671
Education loans held for sale                   190,724      228,492
Loans and leases:
 Consumer home equity:
  Fixed-rate                                  4,027,680    3,721,249
  Variable-rate                               1,585,487    1,689,402
 Consumer - other                                36,978       34,854
                                            ------------ ------------
      Total consumer home equity and other    5,650,145    5,445,505
 Commercial real estate:
  Fixed- and adjustable-rate                  1,699,431    1,672,865
  Variable-rate                                 709,806      725,560
                                            ------------ ------------
      Total commercial real estate            2,409,237    2,398,425
 Commercial business:
  Fixed- and adjustable-rate                    142,293      127,702
  Variable-rate                                 403,070      372,828
                                            ------------ ------------
      Total commercial business                 545,363      500,530
 Leasing and equipment finance                1,707,045    1,624,781
                                            ------------ ------------
  Subtotal                                   10,311,790    9,969,241
 Residential real estate                        676,454      714,433
                                            ------------ ------------
  Total loans and leases                     10,988,244   10,683,674
 Allowance for loan and lease losses            (59,537)     (59,524)
                                            ------------ ------------
  Net loans and leases                       10,928,707   10,624,150
Premises and equipment                          388,099      381,174
Goodwill                                        152,599      152,599
Other assets                                    321,465      305,771
                                            ------------ ------------
                                            $14,206,388  $13,967,748
                                            ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Non-interest-bearing deposits:
 Retail                                      $1,484,651   $1,557,933
 Small business                                 615,119      604,776
 Commercial and custodial                       209,365      234,188
                                            ------------ ------------
  Total non-interest bearing deposits         2,309,135    2,396,897
Interest-bearing deposits:
 Premier checking                             1,021,560    1,000,749
 Other checking                                 840,966      893,800
                                            ------------ ------------
  Subtotal                                    1,862,526    1,894,549
 Premier savings                                942,760      855,979
 Other savings                                1,350,659    1,415,767
                                            ------------ ------------
  Subtotal                                    2,293,419    2,271,746
 Money market                                   609,997      610,766
                                            ------------ ------------
  Subtotal                                    4,765,942    4,777,061
 Certificates of deposit                      2,431,364    2,249,694
                                            ------------ ------------
  Total interest-bearing deposits             7,197,306    7,026,755
                                            ------------ ------------
      Total deposits                          9,506,441    9,423,652
                                            ------------ ------------
Borrowings:
 Short-term borrowings                          619,683      573,418
 Long-term borrowings                         2,780,532    2,703,623
                                            ------------ ------------
  Total borrowings                            3,400,215    3,277,041
Accrued expenses and other liabilities          302,513      300,436
                                            ------------ ------------
  Total liabilities                          13,209,169   13,001,129
                                            ------------ ------------
Stockholders' equity:
 Common stock                                     1,842        1,842
 Additional paid-in capital                     468,271      467,768
 Retained earnings                            1,611,335    1,573,856
 Accumulated other comprehensive loss           (37,225)     (48,838)
 Treasury stock at cost and other            (1,047,004)  (1,028,009)
                                            ------------ ------------
                                                997,219      966,619
                                            ------------ ------------
                                            $14,206,388  $13,967,748
                                            ============ ============

Supplemental Information:
-------------------------------------------
Securities available for sale                $1,829,917   $1,880,671
Residential real estate loans                   676,454      714,433
                                            ------------ ------------
 Total securities available for sale and
  residential real estate loans              $2,506,371   $2,595,104
                                            ============ ============



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

ASSETS

Cash and due from banks            $332,293     $346,555     $346,065
Investments                          70,655       83,027       91,355
Securities available for sale     1,781,586    1,577,967    1,393,742
Education loans held for sale       281,185      230,623      206,850
Loans and leases:
 Consumer home equity:
  Fixed-rate                      3,350,168    2,944,673    2,454,762
  Variable-rate                   1,865,549    2,120,363    2,392,934
 Consumer - other                    34,833       34,544       34,469
                               ------------- ------------ ------------
     Total consumer home equity
      and other                   5,250,550    5,099,580    4,882,165
 Commercial real estate:
  Fixed- and adjustable-rate      1,569,077    1,451,488    1,398,340
  Variable-rate                     760,502      809,855      822,223
                               ------------- ------------ ------------
     Total commercial real
      estate                      2,329,579    2,261,343    2,220,563
 Commercial business:
  Fixed- and adjustable-rate        115,745      106,974       85,611
  Variable-rate                     333,619      321,436      348,030
                               ------------- ------------ ------------
     Total commercial business      449,364      428,410      433,641
 Leasing and equipment finance    1,533,034    1,461,491    1,428,653
                               ------------- ------------ ------------
  Subtotal                        9,562,527    9,250,824    8,965,022
 Residential real estate            751,782      792,245      849,069
                               ------------- ------------ ------------
  Total loans and leases         10,314,309   10,043,069    9,814,091
 Allowance for loan and lease
  losses                            (59,488)     (59,509)     (76,207)
                               ------------- ------------ ------------
  Net loans and leases           10,254,821    9,983,560    9,737,884
Premises and equipment              372,746      358,505      345,641
Goodwill                            152,599      152,599      152,599
Other assets                        364,809      336,464      357,401
                               ------------- ------------ ------------
                                $13,610,694  $13,069,300  $12,631,537
                               ============= ============ ============

LIABILITIES AND STOCKHOLDERS' EQUITY

Non-interest-bearing deposits:
 Retail                          $1,554,007   $1,492,418   $1,539,893
 Small business                     590,240      623,310      600,374
 Commercial and custodial           282,409      295,910      325,025
                               ------------- ------------ ------------
  Total non-interest bearing
   deposits                       2,426,656    2,411,638    2,465,292
Interest-bearing deposits:
 Premier checking                   938,055      827,742      694,835
 Other checking                     909,960      936,517    1,004,507
                               ------------- ------------ ------------
  Subtotal                        1,848,015    1,764,259    1,699,342
 Premier savings                    780,046      640,444      436,690
 Other savings                    1,440,818    1,475,505    1,549,451
                               ------------- ------------ ------------
  Subtotal                        2,220,864    2,115,949    1,986,141
 Money market                       669,602      649,123      632,293
                               ------------- ------------ ------------
  Subtotal                        4,738,481    4,529,331    4,317,776
 Certificates of deposit          2,005,639    1,886,787    1,770,805
                               ------------- ------------ ------------
  Total interest-bearing
   deposits                       6,744,120    6,416,118    6,088,581
                               ------------- ------------ ------------
     Total deposits               9,170,776    8,827,756    8,553,873
                               ------------- ------------ ------------
Borrowings:
 Short-term borrowings              674,868      739,372    1,037,240
 Long-term borrowings             2,481,793    2,207,711    1,757,968
                               ------------- ------------ ------------
  Total borrowings                3,156,661    2,947,083    2,795,208
Accrued expenses and other
 liabilities                        305,672      326,693      326,976
                               ------------- ------------ ------------
  Total liabilities              12,633,109   12,101,532   11,676,057
                               ------------- ------------ ------------
Stockholders' equity:
 Common stock                         1,843        1,844        1,844
 Additional paid-in capital         469,062      475,334      471,847
 Retained earnings                1,541,523    1,510,336    1,473,273
 Accumulated other
  comprehensive loss                (24,638)     (24,157)      (3,104)
 Treasury stock at cost and
  other                          (1,010,205)    (995,589)    (988,380)
                               ------------- ------------ ------------
                                    977,585      967,768      955,480
                               ------------- ------------ ------------
                                $13,610,694  $13,069,300  $12,631,537
                               ============= ============ ============

Supplemental Information:
-------------------------------
Securities available for sale    $1,781,586   $1,577,967   $1,393,742
Residential real estate loans       751,782      792,245      849,069
                               ------------- ------------ ------------
 Total securities available for
  sale and
  residential real estate loans  $2,533,368   $2,370,212   $2,242,811
                               ============= ============ ============
              TCF FINANCIAL CORPORATION AND SUBSIDIARIES
             CONSOLIDATED QUARTERLY YIELDS AND RATES (1)
                             (Unaudited)



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

ASSETS

  Investments               4.74%    4.59%    3.86%    4.03%     2.02%
  Securities available
   for sale                 5.35     5.35     5.32     5.26      5.14
  Education loans held
   for sale                 7.15     7.38     6.27     5.75      5.29
  Loans and leases:
   Consumer home equity:
      Fixed-rate            6.87     6.80     6.72     6.66      6.68
      Variable-rate         8.91     8.69     8.20     7.68      7.22
   Consumer - other        10.31    10.60     9.23     9.58      9.38
         Total consumer
          home equity
          and other         7.46     7.41     7.26     7.11      6.96
   Commercial real
    estate:
      Fixed- and
       adjustable-rate      6.29     6.24     6.18     6.16      6.15
      Variable-rate         7.97     7.60     7.18     6.75      6.27
         Total
          commercial
          real estate       6.78     6.65     6.51     6.37      6.20
   Commercial business:
      Fixed- and
       adjustable-rate      6.32     6.18     6.13     5.90      5.88
      Variable-rate         7.60     7.47     6.85     6.41      6.02
         Total
          commercial
          business          7.27     7.14     6.66     6.29      5.99
   Leasing and equipment
    finance                 7.54     7.23     7.12     7.00      6.74
      Subtotal              7.31     7.18     7.03     6.87      6.69
   Residential real
    estate                  5.81     5.80     5.80     5.73      5.73
      Total loans and
       leases               7.21     7.09     6.94     6.78      6.61

         Total interest-
          earning assets    6.94     6.83     6.68     6.54      6.37


LIABILITIES

  Interest-bearing
   deposits:
   Premier checking         3.26     3.18     3.04     2.97      2.66
   Other checking            .23      .23      .25      .23       .23
      Subtotal              1.89     1.79     1.67     1.52      1.22
   Premier savings          4.33     4.04     3.79     3.66      3.21
   Other savings             .95      .84      .88      .81       .67
      Subtotal              2.34     2.04     1.90     1.67      1.23
   Money market             2.64     2.25     2.15     1.78      1.31
      Subtotal              2.20     1.97     1.84     1.63      1.24
   Certificates of
    deposit                 4.37     4.07     3.70     3.30      2.93
      Total interest-
       bearing deposits     2.93     2.64     2.40     2.12      1.73

         Total deposits     2.22     1.97     1.76     1.54      1.23

  Borrowings:
   Short-term borrowings    5.36     4.99     4.51     4.09      3.52
   Long-term borrowings     4.51     4.50     4.44     4.53      4.62
      Total borrowings      4.67     4.58     4.45     4.42      4.22

         Total interest-
          bearing
          liabilities       2.87     2.64     2.45     2.26      1.97


Net interest margin         4.11%    4.22%    4.25%    4.31%     4.43%
                         ======== ======== ======== ======== =========

(1) Annualized.

Source: TCF Financial Corporation

Contact: TCF Financial Corporation, Wayzata Jason Korstange, 952-745-2755 www.tcfexpress.com

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.