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TCF Reports 57th Consecutive Quarter of Net Income - Earns $23.5 Million

SECOND QUARTER HIGHLIGHTS

Redeemed $361.2 million of senior perpetual preferred stock from the U.S. Treasury and recorded a $12 million non-cash deemed preferred stock dividend Diluted earnings per common share was 18 cents, excluding the non-cash deemed preferred stock dividend Net income of $23.5 million Net interest margin of 3.80 percent Recorded a FDIC special assessment of $8.4 million, or 4 cents per common share Average loans and leases increased by $1.1 billion, or 8.7 percent Average deposits increased by $1.5 billion, or 15.2 percent Capital ratios exceed stated well capitalized requirements Announced regular quarterly cash dividend of 5 cents per common share, payable August 31, 2009

Company Release - 7/22/2009 8:30 AM ET

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

Earnings                  Table 1
Summary

($ in
thousands,
except                                            Percent Change
per-share
data)

              2Q          1Q          2Q          2Q09 vs   2Q09 vs   YTD         YTD         Percent
              2009        2009        2008        1Q09      2Q08      2009        2008        Change

Net income    $ 23,543    $ 26,647    $ 23,702    (11.6 )%  (.7   )%  $ 50,190    $ 71,128    (29.4 )%

Preferred
stock           1,193       5,185       -         (77.0 )   N.M.        6,378       -         N.M.
dividends

Subtotal        22,350      21,462      23,702    4.1       (5.7  )     43,812      71,128    (38.4 )

Non-cash
deemed
preferred       12,025      -           -         N.M.      N.M.        12,025      -         N.M.
stock
dividend

Net income
available to
common        $ 10,325    $ 21,462    $ 23,702    (51.9 )   (56.4 )   $ 31,787    $ 71,128    (55.3 )

stockholders

Diluted
earnings per  $ .08       $ .17       $ .19       (52.9 )   (57.9 )   $ .25       $ .57       (56.1 )
common share

Diluted
earnings per
common share

excluding
non-cash        .18         .17         .19       5.9       (5.3  )     .35         .57       (38.6 )
deemed

preferred
stock
dividend

Financial
Ratios (1)

Return on
average         .53    %    .62    %    .58    %                        .58    %    .88    %
assets

Return on
average         7.82        7.58        8.57                            7.70        12.85
common
equity (2)

Net interest    3.80        3.66        4.00                            3.73        3.92
margin

Net
charge-offs
as a
percentage
of              1.43        1.04        .84                             1.24        .64

average
loans and
leases

(1) Annualized                                                        N.M. = Not meaningful

(2) Excludes non-cash deemed preferred stock dividend of $12,025 in the second quarter and
year-to-date of 2009. Including this amount, the return on average common equity was 3.61% and 5.59%
for the second quarter and year-to-date 2009, respectively.



TCF Financial Corporation ("TCF") (NYSE: TCB) today reported second quarter 2009 diluted earnings per common share of 8 cents, compared with 19 cents in the second quarter of 2008 and 17 cents for the first quarter of 2009. In April, TCF redeemed $361.2 million of senior perpetual preferred stock from the U.S. Treasury and recorded a related $12 million non-cash deemed preferred stock dividend. Diluted earnings per share in the second quarter of 2009 was 18 cents excluding the non-cash deemed preferred stock dividend. Net income for the second quarter of 2009 was $23.5 million, compared with $23.7 million in the second quarter of 2008 and $26.6 million in the first quarter of 2009.

Diluted earnings per share for the first six months of 2009 was 25 cents, compared with 57 cents for the same 2008 period. Diluted earnings per share for the first six months of 2009 was 35 cents excluding the non-cash deemed preferred stock dividend. Net income for the first six months of 2009 was $50.2 million, compared with $71.1 million for the same 2008 period.

TCF declared a quarterly cash dividend of 5 cents per common share payable on August 31, 2009 to stockholders of record at the close of business on July 31, 2009.

Chairman's Statement

"TCF reported its 57th consecutive profitable quarter and announced a regular quarterly dividend of 5 cents per common share - our 85th consecutive quarter paying a dividend," said William A. Cooper, TCF Chairman and CEO. "At the heart of our core business, we saw continued positive momentum in revenues with increasing margin and fee income along with strong growth in deposit accounts and balances as well as loans and leases. Although provision for loan and lease losses remain at higher levels during this credit cycle, our philosophy of conservative banking and secured lending positions TCF to quickly benefit as the economy improves."

Total Revenue                                        Table 2

                                                     Percent Change

($ in         2Q           1Q           2Q           2Q09    2Q09 vs                            Percent
thousands)    2009         2009         2008         vs      2Q08     YTD 2009     YTD 2008     Change
                                                     1Q09

Net interest  $ 156,463    $ 145,413    $ 151,562    7.6  %  3.2   %  $ 301,876    $ 294,391    2.5    %
income

Fees and
other
revenue:

Fees and
service         77,536       57,064       67,961     35.9    14.1       134,600      131,508    2.4
charges

Card revenue    26,604       24,960       26,828     6.6     (.8   )    51,564       51,599     (.1    )

ATM revenue     7,973        7,598        8,267      4.9     (3.6  )    15,571       16,237     (4.1   )

Total           112,113      89,622       103,056    25.1    8.8        201,735      199,344    1.2
banking fees

Leasing and
equipment       16,881       12,651       14,050     33.4    20.1       29,532       26,184     12.8

finance

Other           820          458          4,398      79.0    (81.4 )    1,278        8,681      (85.3  )

Total fees
and other       129,814      102,731      121,504    26.4    6.8        232,545      234,209    (.7    )

revenue

Gains on        10,556       11,548       1,115      (8.6 )  N.M.       22,104       7,401      198.7
securities

Visa share      -            -            -          -       -          -            8,308      (100.0 )
redemption

Total
non-interest    140,370      114,279      122,619    22.8    14.5       254,649      249,918    1.9

income

Total         $ 296,833    $ 259,692    $ 274,181    14.3    8.3      $ 556,525    $ 544,309    2.2
revenue

Net interest    3.80    %    3.66    %    4.00    %                     3.73    %    3.92    %
margin(1)

Fees and other revenue as
a % of:

Total           43.73        39.56        44.32                         41.79        43.03
revenue

Average         2.94         2.40         2.97                          2.67         2.88
assets (1)

N.M. = Not
Meaningful

(1)
Annualized



Net Interest Income

    --  Net interest margin in the second quarter of 2009 was 3.80 percent,
        compared with 4.00 percent in the second quarter of 2008 and 3.66
        percent in the first quarter of 2009. The decrease in net interest
        margin from the second quarter of 2008 was primarily due to lower
        average yields in the securities available for sale portfolio due to
        sales and purchase activity, investing excess liquidity on a short-term
        basis, the issuance of trust preferred stock in the third quarter of
        2008 and lower yields on loans and leases, partially offset by lower
        deposit rates. The increase in net interest margin from the first
        quarter of 2009 was primarily due to a reduction in rates paid on
        deposits, partially offset by lower average yields on securities
        available for sale.
    --  At June 30, 2009, TCF had $147.9 million on deposit with the Federal
        Reserve which is included in cash and due from banks compared with
        $742.9 million at March 31, 2009. TCF has $600.1 million in short-term
        Fannie Mae and Freddie Mac debentures at June 30, 2009.

Non-interest Income

    --  Banking fees and service charges were $77.5 million, up $9.6 million, or
        14.1 percent, from the second quarter of 2008 and up $20.5 million, or
        35.9 percent, from the first quarter of 2009 primarily due to an
        increased number of checking accounts and related fee income.
    --  Card revenues totaled $26.6 million for the second quarter of 2009,
        essentially flat with the second quarter of 2008 and up $1.6 million, or
        6.6 percent, from the first quarter of 2009. The growth in card revenue
        from the first quarter of 2009 was primarily due to a higher number of
        active accounts, as a result of increases in the number of checking
        accounts and seasonal increases in the average number of transactions
        per account.
    --  Leasing and equipment finance revenues were $16.9 million for the second
        quarter of 2009, up $2.8 million, or 20.1 percent, from the second
        quarter of 2008 and up $4.2 million, or 33.4 percent, from the first
        quarter of 2009. The increase in leasing revenue from the second quarter
        of 2008 and first quarter of 2009 was primarily due to higher sales-type
        lease revenue which varies from period to period based on
        customer-driven events.
    --  Other non-interest income was $820 thousand, down $3.6 million from the
        second quarter of 2008, primarily due to TCF no longer selling
        investment and insurance products in the branches.

Loans and Leases

Average Loans and Leases                           Table 3

                                                   Percentage
                                                   Change

($ in       2Q           1Q           2Q           2Q09    2Q09 vs                              Percent
thousands)  2009         2009         2008         vs      2Q08     YTD 2009      YTD 2008      Change
                                                   1Q09

Loans and
leases:

Consumer
real
estate

First
mortgage    $ 4,938,187  $ 4,896,521  $ 4,862,990  .9   %  1.5   %  $ 4,917,468   $ 4,800,415   2.4   %
lien

Junior      2,355,913    2,399,178    2,420,963    (1.8 )  (2.7  )    2,377,427     2,393,678   (.7   )
lien

Total
consumer

real        7,294,100    7,295,699    7,283,953    -       .1         7,294,895     7,194,093   1.4
estate

Consumer    36,255       39,539       46,492       (8.3 )  (22.0 )    37,887        45,251      (16.3 )
other

Total       7,330,355    7,335,238    7,330,445    (.1  )  -          7,332,782     7,239,344   1.3
consumer

Commercial
real        3,110,030    2,998,516    2,656,392    3.7     17.1       3,054,581     2,611,403   17.0
estate

Commercial
            483,493      499,756      529,470      (3.3 )  (8.7  )    491,580       536,579     (8.4  )
business

Total       3,593,523    3,498,272    3,185,862    2.7     12.8       3,546,161     3,147,982   12.6
commercial

Leasing
and

equipment   2,809,787    2,632,893    2,229,467    6.7     26.0       2,721,829     2,185,081   24.6
finance

Inventory   118,317      28,475       -            N.M.    N.M.       73,644        -           N.M.
finance

Total
Loans and   $13,851,982  $13,494,878  $12,745,774  2.6     8.7      $ 13,674,416  $ 12,572,407  8.8

Leases

N.M. = Not meaningful



    --  Average consumer real estate loan balances were relatively flat from the
        second quarter of 2008 and the first quarter of 2009 reflecting less
        consumer demand for home equity financing and very competitive pricing
        from government sponsored and supported programs.
    --  At June 30, 2009, 67.7 percent of the consumer real estate loan
        portfolio was secured by first liens.
    --  Average commercial loan balances increased $407.7 million, or 12.8
        percent, from the second quarter of 2008 and $95.3 million, or 2.7
        percent, from the first quarter of 2009 as a reduction in competitive
        alternatives has increased the opportunity to attract high quality
        customers.
    --  Average leasing and equipment finance balances increased $580.3 million,
        or 26 percent, from the second quarter of 2008 and $176.9 million, or
        6.7 percent, from the first quarter of 2009. The $277.4 million
        portfolio purchase in the first quarter of 2009 contributed $134.1
        million of the increase in average balances from the first quarter of
        2009.
    --  Average inventory finance loans increased $89.8 million, to $118.3
        million, for the second quarter of 2009 from the first quarter of 2009.
        During the second quarter of 2009, TCF Inventory Finance generated $44.7
        million of loans in the lawn and garden industry which TCF entered in
        the second quarter of 2009.

Securities Available for Sale

Average Securities Available for Sale                   Table 4

                                                        Yield                                     Yield

($ in            2Q           1Q           2Q           2Q09    2Q08    YTD 2009     YTD 2008     YTD     YTD
thousands)       2009         2009         2008                                                   2009    2008

U.S. Government
sponsored
enterprise and
federal          $ 1,656,767  $ 2,002,962  $ 2,180,572  4.91 %  5.29 %  $ 1,828,908  $ 2,140,695  5.03 %  5.30 %
agencies
mortgage-backed
securities

U.S. Government
sponsored          527,562      8,908        -          2.17    -         269,668      -          2.15    -
enterprise
debentures

Other              498          506          4,008      5.63    3.89      502          22,053     5.60    3.46
securities

Total            $ 2,184,827  $ 2,012,376  $ 2,184,580  4.25    5.28    $ 2,099,078  $ 2,162,748  4.66    5.28



    --  TCF purchased $204 million and sold $381 million of mortgage-backed
        securities in the second quarter of 2009, compared with $502.9 million
        of purchases and $564.2 million of sales in the first quarter of 2009.
    --  TCF purchased $600.1 million of Fannie Mae and Freddie Mac debentures
        with maturities of three years or less in late March and April of 2009,
        resulting in a reduction in lower yielding interest-bearing deposits at
        the Federal Reserve.

Deposits

Average                                       Table 5
Deposits

                                                              Percentage Change

($ in         2Q              1Q              2Q              2Q09vs   2Q09vs    YTD             YTD            Percent
thousands)    2009            2009            2008            1Q09     2Q08      2009            2008           Change

Non-interest bearing
deposits:

Retail        $ 1,446,215     $ 1,428,453     $ 1,464,237     1.2   %  (1.2  )%  $ 1,437,383     $ 1,439,809    (.2  )%

Small           571,676         563,236         577,510       1.5      (1.0  )     567,479         571,329      (.7  )
business

Commercial      260,079         227,470         238,779       14.3     8.9         243,856         219,701      11.0

Subtotal        2,277,970       2,219,159       2,280,526     2.7      (.1   )     2,248,718       2,230,839    .8

Interest-bearing deposits:

Checking        1,792,493       1,747,480       1,883,948     2.6      (4.9  )     1,770,111       1,865,277    (5.1 )

Savings and
                5,514,098       4,446,622       3,493,213     24.0     57.9        4,983,309       3,403,827    46.4
money market

Subtotal        7,306,591       6,194,102       5,377,161     18.0     35.9        6,753,420       5,269,104    28.2

Certificates    2,087,490       2,463,405       2,471,216     (15.3 )  (15.5 )     2,274,409       2,485,789    (8.5 )

Subtotal        9,394,081       8,657,507       7,848,377     8.5      19.7        9,027,829       7,754,893    16.4

Total         $ 11,672,051    $ 10,876,666    $ 10,128,903    7.3      15.2      $ 11,276,547    $ 9,985,732    12.9
deposits

Average rate    1.15       %    1.49       %    1.47       %                       1.31       %    1.73      %
on deposits



    --  Total average deposits increased $1.5 billion from the second quarter of
        2008 and $795.4 million from the first quarter of 2009. The increase
        from the second quarter of 2008 was primarily due to strong growth in
        savings deposits due to several initiatives involving products, pricing
        and marketing efforts, partially offset by declines in certificates of
        deposits as a result of lower pricing.
    --  The average rate paid on deposits was 1.15 percent in the second quarter
        of 2009, down 32 basis points from the second quarter of 2008 and down
        34 basis points from the first quarter of 2009 due to reductions in
        interest rates paid on certain deposit products. The weighted average
        interest rate on total deposits was 1.07 percent at June 30, 2009.
    --  The number of new checking accounts opened in the second quarter of 2009
        increased 27.4 percent, compared with the second quarter of 2008 and
        increased 1.4 percent from the first quarter of 2009.

Non-interest Expense

Non-interest Expense                           Table 6

                                               Percentage
                                               Change

($ in         2Q         1Q         2Q         2Q09vs  2Q09vs   YTD        YTD         Percent
thousands)    2009       2009       2008       1Q09    2Q08     2009       2008        Change

Compensation
and

employee      $ 90,752   $ 86,190   $ 84,267   5.3  %  7.7   %  $ 176,942  $ 172,985   2.3   %
benefits

Occupancy
and             31,527     32,047     31,205   (1.6 )  1.0        63,574     63,618    (.1   )
equipment

Deposit
account         7,287      6,576      2,441    10.8    198.5      13,863     3,937     N.M.
premiums

Advertising
and             4,134      4,445      4,689    (7.0 )  (11.8 )    8,579      9,490     (9.6  )
promotions

Operating
lease           3,860      4,024      4,460    (4.1 )  (13.5 )    7,884      8,974     (12.1 )
depreciation

FDIC
insurance       13,303     3,795      437      N.M.    N.M.       17,098     858       N.M.
premiums

Foreclosed
real estate
and             6,125      4,291      4,892    42.7    25.2       10,416     7,507     38.8

repossessed
assets

Other           39,558     32,840     36,338   20.5    8.9        72,398     69,636    4.0

Total
non-interest  $ 196,546  $ 174,208  $ 168,729  12.8    16.5     $ 370,754  $ 337,005   10.0
expense

N.M. = Not
meaningful



    --  Compensation and benefits expenses increased $6.5 million, or 7.7
        percent, from the second quarter of 2008 and $4.6 million, or 5.3
        percent, from the first quarter of 2009. The increase from the second
        quarter of 2008 was primarily due to increases in leasing and equipment
        finance and inventory finance compensation costs as a result of
        expansion and growth and increased employee medical plan expenses, which
        were partially offset by headcount reductions in banking.
    --  Deposit account premiums were $7.3 million for the 2009 second quarter,
        up $4.8 million from the second quarter of 2008 and up $711 thousand
        from the first quarter of 2009 due to successful marketing campaigns
        resulting in increased checking account production.
    --  FDIC insurance premiums were up $12.9 million from the second quarter of
        2008 and up $9.5 million from the first quarter of 2009 primarily
        attributable to a special FDIC assessment of $8.4 million recorded in
        the second quarter of 2009 and due to higher insurance premium rates as
        a result of TCF's larger deposit base.
    --  Foreclosed real estate and repossessed asset expenses increased $1.2
        million from the second quarter of 2008 and $1.8 million from the first
        quarter of 2009 primarily due to increased levels of commercial and
        consumer real estate owned.
    --  Other expenses increased $3.2 million from the second quarter of 2008
        and $6.7 million from the first quarter of 2009 primarily due to
        increased credit insurance expense on certain consumer loans and
        increased reserves for expected losses on unfunded commitments. These
        increases were partially offset by decreased severance and separation
        costs.

Credit Quality

Credit Quality                            Table 7
Summary

                                                       Percent Change

($ in           2Q           1Q           2Q           2Q09vs  2Q09vs   YTD          YTD          %
thousands)      2009         2009         2008         1Q09    2Q08     2009         2008         Chg

Allowance for
Loan and Lease
Losses

Balance at
beginning of    $ 181,216    $ 172,442    $ 97,390     5.1  %  86.1  %  $ 172,442    $ 80,942     113.0 %
period

Charge-offs       (53,462 )    (38,881 )    (29,902 )  37.5    78.8       (92,343 )    (47,724 )  93.5

Recoveries        3,800        3,943        3,254      (3.6 )  16.8       7,743        7,529      2.8

Net               (49,662 )    (34,938 )    (26,648 )  42.1    86.4       (84,600 )    (40,195 )  110.5
charge-offs

Provision for     61,891       43,712       62,895     41.6    (1.6  )    105,603      92,890     13.7
credit losses

Balance at end  $ 193,445    $ 181,216    $ 133,637    6.7     44.8     $ 193,445    $ 133,637    44.8
of period

Allowance as a
percentage of
period            1.39    %    1.31    %    1.03    %                     1.39    %    1.03    %

end loans and
leases

Ratio of
allowance to    1.0X         1.3X         1.3X                          1.1X         1.7X
net
charge-offs(1)

Credit Loss
Reserves

Allowance for
loan and lease  $ 193,445    $ 181,216    $ 133,637    6.7     44.8
losses

Reserves for
unfunded          2,655        1,730        1,227      53.5    116.4
commitments

Reserves
netted against
portfolio         13,828       15,102       -          (8.4 )  100.0

asset balances

Total credit    $ 209,928    $ 198,048    $ 134,864    6.0     55.7
loss reserves

Total credit
loss reserves
as a

percentage of     1.50    %    1.43    %    1.04    %
period end
loans

and leases

Ratio of total
credit loss
reserves to
net             1.0X         1.4X         1.3X

charge-offs(1)
(3)

Net
Charge-offs as
a Percentage
of

Average Loans
and Leases(1)

Consumer real
estate:

First mortgage    .96     %    .86     %    .56     %                     .91     %    .46     %
lien

Junior lien       1.90         1.98         1.19                          1.94         1.02

Total consumer    1.26         1.22         .77                           1.24         .64
real estate

Total consumer    1.35         1.29         .85                           1.32         .72

Commercial        2.51         .49          .86                           1.52         .47
real estate

Commercial        (.05    )    2.39         1.74                          1.19         1.08
business

Leasing and
equipment         .79          .71          .55                           .75          .47
finance

Inventory         -            -            -                             -            -
finance

Total             1.43         1.04         .84                           1.24         .64

Other Credit
Quality Data

Delinquencies
(2)

30+days         $ 178,165    $ 178,475    $ 120,823    (.2  )  47.5

60+days           98,982       82,270       70,614     20.3    40.2

90+days           48,477       38,344       28,180     26.4    72.0

Delinquencies
as a
percentage of

loan and lease
portfolio(2):

30+days           1.30    %    1.31    %    .94     %

60+days           .72          .60          .55

90+days           .35          .28          .22

Non-accrual
loans and       $ 239,917    $ 205,916    $ 105,247    16.5    128.0
leases

Real estate       96,862       70,748       55,112     36.9    75.8
owned

Total
non-performing  $ 336,779    $ 276,664    $ 160,359    21.7    110.0
assets

Non-performing
assets as a
                  2.45    %    2.03    %    1.25    %
percentage of
net loans and
leases

(1) Annualized

(2) Excludes non-accrual loans and leases

(3) Includes $1.4 million in write-offs related to credit reserves netted against portfolio asset
balances in the second quarter of 2009



At June 30, 2009, TCF's:

    --  Allowance for loan and lease losses was $193.4 million, or 1.39 percent
        of loans and leases, up from $181.2 million, or 1.31 percent of loans
        and leases at March 31, 2009.
    --  Over-60-day delinquency rates were .72 percent, up from .60 percent at
        March 31, 2009 primarily due to increases in consumer real estate and
        leasing and equipment finance delinquencies.
    --  Non-accrual loans and leases increased $34 million, or 16.5 percent,
        from March 31, 2009 primarily due to increases for commercial real
        estate and leasing and equipment finance. TCF may experience an increase
        in future quarters in non-accrual consumer real estate loans as a result
        of delays in the foreclosure process resulting from new laws or
        government policies in certain locations.
    --  Real estate owned increased $26.1 million, or 36.9 percent, from March
        31, 2009 primarily due to increases in consumer real estate owned in
        Minnesota and Illinois.

For the quarter ended June 30, 2009, TCF's:

    --  Provision for credit losses was $61.9 million, down from $62.9 million
        in the second quarter of 2008 and up from $43.7 million in the first
        quarter of 2009. The composition of the provision for credit losses in
        the second quarter of 2009 was driven by increased net charge-offs in
        the consumer real estate, commercial and leasing portfolios versus the
        composition in the second quarter of 2008 being largely driven by
        significant reserve rate increases in the consumer real estate
        portfolio. The increase from the first quarter of 2009 was primarily due
        to increased charge-offs of commercial loans.
    --  Net loan and lease charge-offs were $49.7 million, or 1.43 percent
        annualized, of average loans and leases, up from $34.9 million, or 1.04
        percent annualized, of average loans and leases, from the first quarter
        of 2009 primarily due to increases in commercial real estate net
        charge-offs, primarily in Michigan.

Income Taxes

    --  Income tax expense was 38.7 percent of pre-tax income for the second
        quarter of 2009, compared with 44.3 percent for the comparable 2008
        period and 36.2 percent for the first quarter of 2009. The second
        quarter of 2008 income tax expense included a $2.2 million year-to-date
        increase in income tax expense and a $2.8 million increase in deferred
        income taxes related to changes in state income taxes, primarily in
        Minnesota.

Capital

Capital Information                                                     Table 8

At period end

($ in thousands, except
per-share data)                  2Q                      4Q
                                 2009                    2008



Total stockholders' equity       $ 1,142,535             $ 1,493,776

Total stockholders' equity to      6.54      %             8.92      %
total assets

Book value per common share      $ 8.90                  $ 8.99

Tangible realized common equity    5.75      %             5.95      %
to assets(1)

Risk-based capital

Tier 1                           $ 1,122,511    8.71  %  $ 1,461,973    11.79 %

Total                              1,465,881    11.37      1,817,225    14.65

Total stated "well-capitalized"    1,288,974    10.00      1,240,147    10.00
requirement

Excess over stated                 176,907      1.37       577,078      4.65
"well-capitalized" requirement

(1) Excludes the impact of preferred stock, goodwill and accumulated other
comprehensive income (loss) (see Table 9
"Reconciliation of GAAP to Non-GAAP Measures")



    --  TCF's total risk-based capital at June 30, 2009 of $1.5 billion, or
        11.37 percent of risk-weighted assets, is $176.9 million in excess of
        the stated "well-capitalized" requirement.
    --  On April 22, 2009, TCF redeemed all of the 361,172 outstanding shares of
        its Fixed-Rate Cumulative Perpetual Preferred Stock, Series A, $.01 Par
        Value. Since receiving the Capital Purchase Program funds on November
        14, 2008, TCF paid the U.S. Department of the Treasury $7.9 million in
        cash dividends. Upon redemption, the difference of $12 million between
        the preferred stock redemption amount and the recorded amount was
        charged to retained earnings as a non-cash deemed preferred stock
        dividend. This deemed preferred stock dividend had no impact on total
        stockholders' equity, but reduced earnings per diluted common share by
        10 cents. Additionally, TCF recorded preferred stock dividends of $1.2
        million, or 1 cent per common share, and $5.2 million, or 4 cents per
        common share, in the second and first quarters of 2009, respectively.
        The warrant issued to the U.S. Treasury under the Capital Purchase
        Program has not been repurchased and TCF has requested the U.S. Treasury
        to liquidate it, as required by law.
    --  On July 21, 2009, the Board of Directors of TCF declared a regular
        quarterly cash dividend of 5 cents per common share payable on August
        31, 2009 to stockholders of record at the close of business on July 31,
        2009.

Reconciliation of GAAP to Non-GAAP Measures(1)                   Table 9

At period end

($ in thousands)                                 2Q              4Q
                                                 2009            2008

Computation of stockholders' equity to total
assets:

Stockholders' equity                             $ 1,142,535     $ 1,493,776

Total assets                                       17,475,721      16,740,357

Stockholders' equity to total assets               6.54       %    8.92       %

Computation of tangible realized common equity
to total assets:

Stockholders' equity                             $ 1,142,535     $ 1,493,776

Less:

Preferred stock                                    -               348,437

Goodwill                                           152,599         152,599

Add:

Accumulated other comprehensive loss               15,296          3,692

Tangible realized common equity                  $ 1,005,232     $ 996,432

Total assets                                     $ 17,475,721    $ 16,740,357

Tangible realized common equity to total assets    5.75       %    5.95       %

(1) In contrast to GAAP-basis measures, tangible realized common equity
excludes the effect of preferred stock, goodwill and
accumulated other comprehensive income (loss). Management reviews tangible
realized common equity as an ongoing measure
and has included this information because of current interest by the industry.
The methodology of calculating tangible realized
common equity may vary between companies.



Website Information

A live webcast of TCF's conference call to discuss second quarter earnings will be hosted at TCF's website, www.tcfbank.com, on July 22, 2009 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 $17.5
billion in total assets. TCF has 444 banking offices in Minnesota, Illinois,
Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing
retail and commercial banking services. TCF also conducts commercial leasing and
equipment finance business in all 50 states and commercial inventory finance
business in the U.S. and Canada. For more information about TCF, please
visitwww.tcfbank.com.



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, continued or deepening deterioration in general economic and banking industry conditions; continued increases in unemployment in TCF's primary banking markets; limitations on TCF's ability to pay dividends or to increase dividends in the future because of financial performance deterioration, regulatory restrictions or limitations; increased deposit insurance premiums, special assessments or other costs related to deteriorating conditions in the banking industry and the economic impact on banks of the Emergency Economic Stabilization Act, as amended ("EESA") or other related legislative and regulatory developments; the impact of the Obama Administration's financial regulatory reform proposals including possible additional capital, consumer protection and supervisory requirements; the imposition of requirements with an adverse financial impact relating to TCF's lending, loan collection and other business activities as a result of the EESA, or other legislative or regulatory developments such as mortgage foreclosure moratorium laws; possible legislative changes, including restrictions on deposit fees and reduction of interchange revenue from debit card transactions and adverse economic, business and competitive developments such as shrinking interest margins, deposit outflows, an inability to increase the number of deposit accounts and the possibility that deposit account losses (fraudulent checks, etc.) may increase; impact of legislative, regulatory or other changes affecting customer account charges and fee income; legislative changes to bankruptcy laws which would result in the loss of all or part of TCF's security interest due to collateral value declines (so-called "cramdown" provisions); 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, including adoption of state legislation that would increase state taxes; adverse findings in tax audits or regulatory examinations and resulting enforcement actions, including those provided for under the Bank Secrecy Act; changes in credit and other risks posed by TCF's loan, lease, investment, and securities available for sale portfolios, including continuing declines in commercial or residential real estate values or changes in allowance for loan and lease losses methodology dictated by new market conditions or regulatory requirements; lack of or inadequate insurance coverage for claims against TCF; technological, computer related or operational difficulties or loss or theft of information; adverse changes in securities markets directly or indirectly affecting TCF's ability to sell assets or to fund its operations; results of litigation, including potential class action litigation concerning TCF's lending or deposit activities or employment practices and possible increases in indemnification obligations for certain litigation against Visa U.S.A. ("covered litigation") and potential reductions in card revenues resulting from covered litigation or other litigation against Visa; heightened regulatory practices, requirements or expectations, including, but not limited to, requirements related to the Bank Secrecy Act and anti-money laundering compliance activity; 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,              Change

                                     2009       2008       $            %

Interest income:

 Loans and leases                    $ 215,400  $ 208,407  $ 6,993      3.4    %

 Securities available for sale         23,217     28,858     (5,641  )  (19.5  )

 Education loans held for sale         -          1,756      (1,756  )  (100.0 )

 Investments and other                 1,137      1,427      (290    )  (20.3  )

  Total interest income                239,754    240,448    (694    )  (.3    )

Interest expense:

 Deposits                              33,345     36,954     (3,609  )  (9.8   )

 Borrowings                            49,946     51,932     (1,986  )  (3.8   )

  Total interest expense               83,291     88,886     (5,595  )  (6.3   )

   Net interest income                 156,463    151,562    4,901      3.2

Provision for credit losses            61,891     62,895     (1,004  )  (1.6   )

  Net interest income after
  provision for

   credit losses                       94,572     88,667     5,905      6.7

Non-interest income:

 Fees and service charges              77,536     67,961     9,575      14.1

 Card revenue                          26,604     26,828     (224    )  (.8    )

 ATM revenue                           7,973      8,267      (294    )  (3.6   )

  Subtotal                             112,113    103,056    9,057      8.8

 Leasing and equipment finance         16,881     14,050     2,831      20.1

 Other                                 820        4,398      (3,578  )  (81.4  )

  Fees and other revenue               129,814    121,504    8,310      6.8

 Gains on securities                   10,556     1,115      9,441      N.M.

  Total non-interest income            140,370    122,619    17,751     14.5

Non-interest expense:

 Compensation and employee benefits    90,752     84,267     6,485      7.7

 Occupancy and equipment               31,527     31,205     322        1.0

 Deposit account premiums              7,287      2,441      4,846      198.5

 Advertising and promotions            4,134      4,689      (555    )  (11.8  )

 Operating lease depreciation          3,860      4,460      (600    )  (13.5  )

 FDIC insurance premiums               13,303     437        12,866     N.M.

 Foreclosed real estate and            6,125      4,892      1,233      25.2
 repossessed assets

 Other                                 39,558     36,338     3,220      8.9

  Total non-interest expense           196,546    168,729    27,817     16.5

   Income before income tax expense    38,396     42,557     (4,161  )  (9.8   )

Income tax expense                     14,853     18,855     (4,002  )  (21.2  )

   Net income                          23,543     23,702     (159    )  (.7    )

Preferred stock dividends              13,218     -          13,218     N.M.

  Net income available to common     $ 10,325   $ 23,702   $ (13,377 )  (56.4  )
  stockholders

Net income per common share:

 Basic                               $ .08      $ .19      $ (.11    )  (57.9  )

 Diluted                               .08        .19        (.11    )  (57.9  )

Dividends declared per common share  $ .05      $ .25      $ (.20    )  (80.0  )

Average common and common
equivalent

 shares outstanding (in thousands):

  Basic                                126,449    124,797    1,652      1.3

  Diluted                              126,449    124,813    1,636      1.3

N.M. Not meaningful



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

                                     Six Months Ended

                                     June 30,              Change

                                     2009       2008       $            %

Interest income:

 Loans and leases                    $ 424,777  $ 420,184  $ 4,593      1.1    %

 Securities available for sale         48,918     57,137     (8,219  )  (14.4  )

 Education loans held for sale         -          5,208      (5,208  )  (100.0 )

 Investments and other                 1,993      3,069      (1,076  )  (35.1  )

  Total interest income                475,688    485,598    (9,910  )  (2.0   )

Interest expense:

 Deposits                              73,429     85,682     (12,253 )  (14.3  )

 Borrowings                            100,383    105,525    (5,142  )  (4.9   )

  Total interest expense               173,812    191,207    (17,395 )  (9.1   )

       Net interest income             301,876    294,391    7,485      2.5

Provision for credit losses            105,603    92,890     12,713     13.7

  Net interest income after
  provision for

       credit losses                   196,273    201,501    (5,228  )  (2.6   )

Non-interest income:

 Fees and service charges              134,600    131,508    3,092      2.4

 Card revenue                          51,564     51,599     (35     )  (.1    )

 ATM revenue                           15,571     16,237     (666    )  (4.1   )

  Subtotal                             201,735    199,344    2,391      1.2

 Leasing and equipment finance         29,532     26,184     3,348      12.8

 Other                                 1,278      16,989     (15,711 )  (92.5  )

  Fees and other revenue               232,545    242,517    (9,972  )  (4.1   )

 Gains on securities                   22,104     7,401      14,703     198.7

  Total non-interest income            254,649    249,918    4,731      1.9

Non-interest expense:

 Compensation and employee benefits    176,942    172,985    3,957      2.3

 Occupancy and equipment               63,574     63,618     (44     )  (.1    )

 Deposit account premiums              13,863     3,937      9,926      N.M.

 Advertising and promotions            8,579      9,490      (911    )  (9.6   )

 Operating lease depreciation          7,884      8,974      (1,090  )  (12.1  )

 FDIC insurance premiums               17,098     858        16,240     N.M.

 Foreclosed real estate and            10,416     7,507      2,909      38.8
 repossessed assets

 Other                                 72,398     69,636     2,762      4.0

  Total non-interest expense           370,754    337,005    33,749     10.0

       Income before income tax        80,168     114,414    (34,246 )  (29.9  )
       expense

Income tax expense                     29,978     43,286     (13,308 )  (30.7  )

       Net income                      50,190     71,128     (20,938 )  (29.4  )

Preferred stock dividends              18,403     -          18,403     N.M.

  Net income available to common     $ 31,787   $ 71,128   $ (39,341 )  (55.3  )
  stockholders

Net income per common share:

 Basic                               $ .25      $ .57      $ (.32    )  (56.1  )

 Diluted                               .25        .57        (.32    )  (56.1  )

Dividends declared per common share  $ .30      $ .50      $ (.20    )  (40.0  )

Average common and common
equivalent

 shares outstanding (in thousands):

  Basic                                126,196    124,721    1,475      1.2

  Diluted                              126,196    124,744    1,452      1.2

N.M. Not meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands, except per-share data)

(Unaudited)

                  At              At              At              % Change From

                  June 30,        December 31,    June 30,        December  June 30,
                                                                  31,

                  2009            2008            2008            2008      2008

ASSETS

Cash and due      $ 431,328       $ 342,380       $ 349,817       26.0   %  23.3     %
from banks

Investments         166,770         155,725         153,550       7.1       8.6

U.S. Government
sponsored
enterprise and

 federal
 agencies           1,484,496       1,965,554       2,116,952     (24.5  )  (29.9  )
 mortgage-backed
 securities

U.S. Government
sponsored           602,381         -               -             N.M.      N.M.
enterprise
debentures

Other securities    529             550             3,712         (3.8   )  (85.7  )

 Total
 securities         2,087,406       1,966,104       2,120,664     6.2       (1.6   )
 available for
 sale

Education loans     -               757             24,385        (100.0 )  (100.0 )
held for sale

Loans and
leases:

 Consumer real
 estate and         7,340,124       7,363,583       7,405,371     (.3    )  (.9    )
 other

 Commercial real    3,155,398       2,984,156       2,727,568     5.7       15.7
 estate

 Commercial         487,083         506,887         556,176       (3.9   )  (12.4  )
 business

 Leasing and
 equipment          2,822,858       2,486,082       2,263,431     13.5      24.7
 finance

 Inventory          157,193         4,425           -             N.M.      N.M.
 finance

  Total loans       13,962,656      13,345,133      12,952,546    4.6       7.8
  and leases

 Allowance for
 loan and lease     (193,445   )    (172,442   )    (133,637   )  (12.2  )  (44.8  )
 losses

  Net loans and     13,769,211      13,172,691      12,818,909    4.5       7.4
  leases

Premises and        448,514         447,826         441,402       .2        1.6
equipment, net

Goodwill            152,599         152,599         152,599       -         -

Other assets        419,893         502,275         398,797       (16.4  )  5.3

   Total assets   $ 17,475,721    $ 16,740,357    $ 16,460,123    4.4       6.2

LIABILITIES AND
STOCKHOLDERS'
EQUITY

Deposits:

 Checking         $ 4,064,597     $ 3,969,768     $ 4,208,531     2.4       (3.4   )

 Savings and        5,668,069       3,677,301       3,527,203     54.1      60.7
 money market

  Subtotal          9,732,666       7,647,069       7,735,734     27.3      25.8

 Certificates of    1,886,387       2,596,283       2,410,388     (27.3  )  (21.7  )
 deposit

  Total deposits    11,619,053      10,243,352      10,146,122    13.4      14.5

Short-term          25,829          226,861         411,802       (88.6  )  (93.7  )
borrowings

Long-term           4,307,098       4,433,913       4,515,997     (2.9   )  (4.6   )
borrowings

  Total             4,332,927       4,660,774       4,927,799     (7.0   )  (12.1  )
  borrowings

Accrued expenses
and other           381,206         342,455         297,901       11.3      28.0
liabilities

  Total             16,333,186      15,246,581      15,371,822    7.1       6.3
  liabilities

Stockholders'
equity:

 Preferred
 stock, par
 value $.01 per
 share,

  30,000,000
  authorized; 0,    -               348,437         -             (100.0 )  -
  361,172 and 0
  issued

 Common stock,
 par value $.01
 per share,

  280,000,000
  shares
  authorized;
  130,398,951,

  130,839,378
  and               1,304           1,308           1,310         (.3    )  (.5    )
  131,057,353
  shares issued

 Additional         306,718         330,474         345,668       (7.2   )  (11.3  )
 paid-in capital

 Retained
 earnings,
 subject to         921,766         927,893         935,378       (.7    )  (1.5   )
 certain
 restrictions

 Accumulated
 other              (15,296    )    (3,692     )    (36,986    )  N.M.      (58.6  )
 comprehensive
 income (loss)

 Treasury stock
 at cost,
 1,973,713,
 3,413,855

  and 4,576,330
  shares, and       (71,957    )    (110,644   )    (157,069   )  (35.0  )  (54.2  )
  other

   Total
   stockholders'    1,142,535       1,493,776       1,088,301     (23.5  )  5.0
   equity

   Total
   liabilities
   and            $ 17,475,721    $ 16,740,357    $ 16,460,123    4.4       6.2
   stockholders'
   equity

N.M. Not
meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance for                                                                                  Allowance as % of
loan and lease                                                                                 Portfolio
losses

                  At June 30, 2009         At March 31, 2009         At June 30, 2008          Change from

                  Allowance                Allowance                 Allowance                 Mar. 31,        Jun. 30,

                  Balance    % of          Balance      % of         Balance      % of         2009            2008
                             Portfolio                  Portfolio                 Portfolio

 Consumer real    $ 114,283    1.57     %  $ 103,475      1.42    %  $ 72,034       .98     %    15       bps    59       bps
 estate

 Consumer other     3,026      5.00          2,519        4.53         2,461        3.59         47              141

  Total consumer
  real estate       117,309    1.60          105,994      1.44         74,495       1.01         16              59
  and other

 Commercial real    36,208     1.15          40,354       1.33         34,790       1.28         (18    )        (13    )
 estate

 Commercial         10,354     2.13          10,281       2.08         7,733        1.39         5               74
 business

 Leasing and
 equipment          28,921     1.02          24,140       .86          16,619       .73          16              29
 finance

 Inventory          653        .42           447          .44          -            -            (2     )        42
 finance

  Total
  allowance for   $ 193,445    1.39        $ 181,216      1.31       $ 133,637      1.03         8               36
  loan and lease
  losses

Credit Loss       At June 30, 2009         At March 31, 2009         At June 30, 2008          Change from
Reserves

                  Credit loss reserve      Credit loss reserve       Credit loss reserve       Mar. 31,        Jun. 30,

                  Balance    % of          Balance      % of         Balance      % of         2009            2008
                             Portfolio                  Portfolio                 Portfolio

 Allowance for
 loan and lease   $ 193,445    1.39     %  $ 181,216      1.31    %  $ 133,637      1.03    %    8        bps    36       bps
 losses

 Reserves for
 unfunded           2,655    N.M.            1,730      N.M.           1,227      N.M.           -               -
 commitments

 Reserves netted
 against            13,828   N.M.            15,102     N.M.           -          N.M.           -               -
 portfolio asset
 balances

  Total credit    $ 209,928    1.50        $ 198,048      1.43       $ 134,864      1.04         7               46
  loss reserves

Net Charge-Offs              Quarter Ended                                                     Change from

                             Jun. 30,      Mar. 31,     Dec. 31,     Sep. 30,     Jun. 30,     Mar. 31,        Jun. 30,

                             2009          2009         2008         2008         2008         2009            2008

 Consumer real
 estate

  First mortgage             $ 11,793      $ 10,477     $ 10,198     $ 8,841      $ 6,803      $ 1,316         $ 4,990
  lien

  Junior lien                  11,203        11,849       10,664       9,469        7,205        (646   )        3,998

   Total
   consumer real               22,996        22,326       20,862       18,310       14,008       670             8,988
   estate

 Consumer other                1,661         1,290        3,303        3,282        1,525        371             136

  Total consumer
  real estate                  24,657        23,616       24,165       21,592       15,533       1,041           9,124
  and other

 Commercial real               19,531        3,640        2,958        2,694        5,736        15,891          13,795
 estate

 Commercial                    (55    )      2,981        2,631        65           2,308        (3,036 )        (2,363 )
 business

 Leasing and
 equipment                     5,529         4,701        3,832        2,413        3,071        828             2,458
 finance

 Inventory                     -             -            -            -            -            -               -
 finance

  Total                      $ 49,662      $ 34,938     $ 33,586     $ 26,764     $ 26,648     $ 14,724        $ 23,014

Net Charge-Offs as a Percentage of Average Loans and Leases

                             Quarter Ended(1)                                                  Change from

                             Jun. 30,      Mar. 31,     Dec. 31,     Sep. 30,     Jun. 30,     Mar. 31,        Jun. 30,

                             2009          2009         2008         2008         2008         2009            2008

 Consumer real
 estate

  First mortgage               .96      %    .86     %    .84     %    .73     %    .56     %    10       bps    40       bps
  lien

  Junior lien                  1.90          1.98         1.76         1.56         1.19         (8     )        71

   Total
   consumer real               1.26          1.22         1.14         1.00         .77          4               49
   estate

 Consumer other              N.M.          N.M.         N.M.         N.M.         N.M.         N.M.            N.M.

  Total consumer
  real estate                  1.35          1.29         1.32         1.17         .85          6               50
  and other

 Commercial real               2.51          .49          .41          .39          .86          202             165
 estate

 Commercial                    (.05   )      2.39         2.01         .05          1.74         (244   )        (179   )
 business

 Leasing and
 equipment                     .79           .71          .64          .42          .55          8               24
 finance

 Inventory                     -             -            -            -            -            -               -
 finance

  Total                        1.43          1.04         1.02         .82          .84          39              59

Troubled debt                At            At           At           At           At           Change from
restructurings

                             Jun. 30,      Mar. 31,     Dec. 31,     Sep. 30,     Jun. 30,     Mar. 31,        Jun. 30,

                             2009          2009         2008         2008         2008         2009            2008

 Consumer

  Accruing                   $ 51,483      $ 24,877     $ 27,423     $ 23,844     $ 24,722     $ 26,606        $ 26,761

  Non-accrual                  10,257        9,692        9,216        7,216        7,934        565             2,323

   Total                       61,740        34,569       36,639       31,060       32,656       27,171          29,084
   consumer

 Commercial                    10,017        8,634        13,685       18,749       11,321       1,383           (1,304 )

  Total troubled
  debt                       $ 71,757      $ 43,203     $ 50,324     $ 49,809     $ 43,977     $ 28,554        $ 27,780
  restructurings

(1) Annualized

N.M. Not meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Non-performing    At           At           At           At           At           Change from
assets

                  Jun. 30,     Mar. 31,     Dec. 31,     Sep. 30,     Jun. 30,     Mar. 31,       Jun. 30,

                  2009         2009         2008         2008         2008         2009           2008

 Non-accrual
 loans and
 leases:

  Consumer real
  estate

   First          $ 83,766     $ 82,082     $ 71,078     $ 52,633     $ 42,776     $ 1,684        $ 40,990
   mortgage lien

   Junior lien      11,209       11,373       11,793       12,433       9,654        (164   )       1,555

    Total
    consumer        94,975       93,455       82,871       65,066       52,430       1,520          42,545
    real estate

  Consumer other    147          146          65           78           287          1              (140    )

   Total
   consumer real    95,122       93,601       82,936       65,144       52,717       1,521          42,405
   estate and
   other

  Commercial        87,252       67,264       54,615       46,011       38,404       19,988         48,848
  real estate

  Commercial        11,532       11,857       14,088       16,356       1,306        (325   )       10,226
  business

  Leasing and
  equipment         46,011       33,190       20,879       18,379       12,820       12,821         33,191
  finance

  Inventory         -            4            -            -            -            (4     )       -
  finance

   Total
   non-accrual      239,917      205,916      172,518      145,890      105,247      34,001         134,670
   loans and
   leases

 Other real
 estate owned:

  Consumer real     72,745       45,633       38,632       34,101       35,269       27,112         37,476
  estate

  Commercial        24,117       25,115       23,033       20,078       19,843       (998   )       4,274
  real estate

   Total other
   real estate      96,862       70,748       61,665       54,179       55,112       26,114         41,750
   owned

  Total
  non-performing  $ 336,779    $ 276,664    $ 234,183    $ 200,069    $ 160,359    $ 60,115       $ 176,420
  assets

 Non-performing
 assets as a
 percentage of      2.45     %   2.03     %   1.78     %   1.55     %   1.25     %   42       bps   120       bps
 net loans and
 leases



Delinquency
data -          At          At          At          At          At          Change from
principal
balances(1)

                Jun. 30,    Mar. 31,    Dec. 31,    Sep. 30,    Jun. 30,    Mar. 31,        Jun. 30,

                2009        2009        2008        2008        2008        2009            2008

    60 days or
    more:

    Consumer
    real
    estate

     First
     mortgage   $ 65,022    $ 57,121    $ 53,482    $ 45,871    $ 37,138    $ 7,901         $ 27,884
     lien

     Junior       13,403      10,141      13,940      10,238      7,648       3,262           5,755
     lien

      Total
      consumer    78,425      67,262      67,422      56,109      44,786      11,163          33,639
      real
      estate

    Consumer      207         187         313         227         209         20              (2      )
    other

     Total
     consumer
     real         78,632      67,449      67,735      56,336      44,995      11,183          33,637
     estate
     and other

    Commercial
    real          2,150       -           225         5,085       17,615      2,150           (15,465 )
    estate

    Commercial    129         9           605         264         478         120             (349    )
    business

    Leasing
    and           18,071      14,677      10,905      8,242       7,526       3,394           10,545
    equipment
    finance

    Inventory     -           135         -           -           -           (135    )       -
    finance

     Total 60
     days or    $ 98,982    $ 82,270    $ 79,470    $ 69,927    $ 70,614    $ 16,712        $ 28,368
     more

     Total 30
     days or    $ 178,165   $ 178,475   $ 149,284   $ 142,125   $ 120,823   $ (310    )     $ 57,342
     more

     Total 90
     days or      48,477      38,344      37,619      34,808      28,180      10,133          20,297
     more

Delinquency
data - % of     At          At          At          At          At          Change from
portfolio(1)

                Jun. 30,    Mar. 31,    Dec. 31,    Sep. 30,    Jun. 30,    Mar. 31,        Jun. 30,

                2009        2009        2008        2008        2008        2009            2008

    60 days or
    more:

    Consumer
    real
    estate

     First
     mortgage     1.34    %   1.18    %   1.11    %   .95     %   .77     %   16        bps   57        bps
     lien

     Junior       .58         .43         .58         .42         .31         15              27
     lien

      Total
      consumer    1.09        .93         .93         .78         .61         16              48
      real
      estate

    Consumer      .34         .34         .51         .32         .31         -               3
    other

     Total
     consumer
     real         1.09        .93         .93         .77         .61         16              48
     estate
     and other

    Commercial
    real          .07         -           .01         .18         .66         7               (59     )
    estate

    Commercial    .03         -           .12         .05         .09         3               (6      )
    business

    Leasing
    and           .65         .53         .44         .36         .33         12              32
    equipment
    finance

    Inventory     -           .13         -           -           -           (13     )       -
    finance

     Total 60
     days or      .72         .60         .60         .54         .55         12              17
     more

     Total 30
     days or      1.30        1.31        1.13        1.10        .94         (1      )       36
     more

     Total 90
     days or      .35         .28         .28         .27         .22         7               13
     more

Potential
Problem Loans   At          At          At          At          At          Change from
and Leases(1)
(2)

                Jun. 30,    Mar. 31,    Dec. 31,    Sep. 30,    Jun. 30,    Mar. 31,        Jun. 30,

                2009        2009        2008        2008        2008        2009            2008

    Consumer
    real        $ 51,483    $ 24,877    $ 27,423    $ 23,844    $ 24,722    $ 26,606        $ 26,761
    estate(3)

    Commercial
    real          143,644     176,277     137,332     100,028     100,288     (32,633 )       43,356
    estate

    Commercial    41,847      35,826      27,127      30,619      49,809      6,021           (7,962  )
    business

    Leasing
    and           27,970      27,898      20,994      17,950      16,967      72              11,003
    equipment
    finance

    Inventory     -           -           -           -           -           -               -
    finance

     Total      $ 264,944   $ 264,878   $ 212,876   $ 172,441   $ 191,786   $ 66            $ 73,158

(1) Excludes non-accrual loans and leases.

    Consists of loans and leases primarily classified for regulatory purposes as substandard and reflect
(2) 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.

(3) Consists of troubled debt restructured loans that are accruing interest.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

                       Three Months Ended June 30,

                       2009                               2008

                       Average                  Yields    Average
                                                and

                       Balance       Interest   Rates     Balance       Interest   Rates
                                                (1)                                (1)

ASSETS

  Investments and      $ 166,824     $ 1,137    1.00   %  $ 148,357     $ 1,427    3.86  %
  other

  U.S. Government
  sponsored
  enterprise and         1,656,767     20,351   4.91        2,180,572     28,819   5.29
  federal agencies
  mortgage-backed
  securities

  U.S. Government
  sponsored              527,562       2,859    2.17        -             -        -
  enterprise
  debentures

  Other securities       498           7        5.63        4,008         39       3.89

   Total securities      2,184,827     23,217   4.25        2,184,580     28,858   5.28
   available for sale

  Education loans        -             -        -           123,457       1,756    5.72
  held for sale

  Loans and leases:

   Consumer real
   estate

    Fixed-rate           5,453,117     88,612   6.52        5,581,129     93,536   6.74

    Variable-rate        1,840,983     26,558   5.79        1,702,824     26,502   6.26

   Consumer - other      36,255        781      8.64        46,492        994      8.60

     Total consumer
     real estate and     7,330,355     115,951  6.34        7,330,445     121,032  6.64
     other

   Commercial real
   estate

    Fixed- and           2,531,026     37,887   6.00        2,062,983     31,868   6.20
    adjustable-rate

    Variable-rate        579,004       5,709    3.95        593,409       7,436    5.04

     Total commercial    3,110,030     43,596   5.62        2,656,392     39,304   5.95
     real estate

   Commercial
   business

    Fixed- and           173,000       2,464    5.71        157,740       2,433    6.20
    adjustable-rate

    Variable-rate        310,493       2,533    3.27        371,730       4,493    4.86

     Total commercial    483,493       4,997    4.15        529,470       6,926    5.26
     business

   Leasing and           2,809,787     48,387   6.89        2,229,467     41,145   7.38
   equipment finance

   Inventory finance     118,317       2,469    8.35        -             -        -

    Total loans and      13,851,982    215,400  6.23        12,745,774    208,407  6.57
    leases

     Total
     interest-earning    16,203,633    239,754  5.83        15,202,168    240,448  6.35
     assets

  Other assets           1,432,284                          1,171,686

   Total assets        $ 17,635,917                       $ 16,373,854

LIABILITIES AND
STOCKHOLDERS' EQUITY

  Non-interest
  bearing deposits:

   Retail              $ 1,446,215                        $ 1,464,237

   Small business        571,676                            577,510

   Commercial and        260,079                            238,779
   custodial

    Total
    non-interest         2,277,970                          2,280,526
    bearing deposits

  Interest-bearing
  deposits:

   Checking              1,792,493     1,950    .44         1,883,948     2,789    .60

   Savings and money     5,514,098     17,240   1.25        3,493,213     12,846   1.48
   market

    Subtotal             7,306,591     19,190   1.05        5,377,161     15,635   1.17

   Certificates of       2,087,490     14,155   2.72        2,471,216     21,319   3.47
   deposit

    Total
    interest-bearing     9,394,081     33,345   1.42        7,848,377     36,954   1.89
    deposits

     Total deposits      11,672,051    33,345   1.15        10,128,903    36,954   1.47

  Borrowings:

   Short-term            29,027        24       .33         363,302       1,977    2.19
   borrowings

   Long-term             4,307,777     49,922   4.65        4,419,821     49,955   4.54
   borrowings

     Total borrowings    4,336,804     49,946   4.62        4,783,123     51,932   4.37

   Total deposits and    16,008,855    83,291   2.09        14,912,026    88,886   2.40
   borrowings

  Other liabilities      403,561                            355,187

   Total liabilities     16,412,416                         15,267,213

  Stockholders'          1,223,501                          1,106,641
  equity

   Total liabilities
   and stockholders'   $ 17,635,917                       $ 16,373,854
   equity

Net interest income                  $ 156,463  3.80   %                $ 151,562  4.00  %
and margin

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

                       Six Months Ended June 30,

                       2009                            2008

                       Average               Yields    Average
                                             and

                       Balance     Interest  Rates     Balance     Interest  Rates
                                             (1)                             (1)

ASSETS

  Investments and      $ 469,288   $ 1,993   .85    %  $ 149,501   $ 3,069   4.12  %
  other

  U.S. Government
  sponsored
  enterprise and       1,828,908   46,010    5.03      2,140,695   56,757    5.30
  federal agencies
  mortgage-backed
  securities

  U.S. Government
  sponsored            269,668     2,894     2.15      -           -         -
  enterprise
  debentures

  Other securities     502         14        5.60      22,053      380       3.46

   Total securities    2,099,078   48,918    4.66      2,162,748   57,137    5.28
   available for sale

  Education loans      -           -         -         169,445     5,208     6.18
  held for sale

  Loans and leases:

   Consumer real
   estate

    Fixed-rate         5,465,225   177,418   6.54      5,541,165   187,056   6.79

    Variable-rate      1,829,669   52,781    5.82      1,652,929   54,696    6.65

   Consumer - other    37,888      1,603     8.53      45,250      1,974     8.77

     Total consumer
     real estate and   7,332,782   231,802   6.37      7,239,344   243,726   6.77
     other

   Commercial real
   estate

    Fixed- and         2,471,014   74,171    6.05      2,019,163   63,112    6.29
    adjustable-rate

    Variable-rate      583,567     11,349    3.92      592,240     16,214    5.51

     Total commercial  3,054,581   85,520    5.65      2,611,403   79,326    6.11
     real estate

   Commercial
   business

    Fixed- and         174,216     5,014     5.80      167,715     5,188     6.22
    adjustable-rate

    Variable-rate      317,364     4,919     3.13      368,864     9,866     5.38

     Total commercial  491,580     9,933     4.07      536,579     15,054    5.64
     business

   Leasing and         2,721,829   94,438    6.94      2,185,081   82,078    7.51
   equipment finance

   Inventory finance   73,644      3,084     8.38      -           -         N.A.

    Total loans and    13,674,416  424,777   6.25      12,572,407  420,184   6.71
    leases

     Total
     interest-earning  16,242,782  475,688   5.89      15,054,101  485,598   6.48
     assets

  Other assets         1,151,381                       1,200,353

   Total assets        $                               $
                       17,394,163                      16,254,454

LIABILITIES AND
STOCKHOLDERS' EQUITY

  Non-interest
  bearing deposits:

   Retail              $                               $
                       1,437,383                       1,439,809

   Small business      567,479                         571,329

   Commercial and      243,856                         219,701
   custodial

    Total
    non-interest       2,248,718                       2,230,839
    bearing deposits

  Interest-bearing
  deposits:

   Checking            1,770,111   4,637     .53       1,865,277   7,520     .81

   Savings and money   4,983,309   36,489    1.48      3,403,827   30,606    1.81
   market

    Subtotal           6,753,420   41,126    1.23      5,269,104   38,126    1.46

   Certificates of     2,274,409   32,303    2.86      2,485,789   47,556    3.84
   deposit

    Total
    interest-bearing   9,027,829   73,429    1.64      7,754,893   85,682    2.22
    deposits

     Total deposits    11,276,547  73,429    1.31      9,985,732   85,682    1.73

  Borrowings:

   Short-term          36,537      118       .65       381,162     5,587     2.95
   borrowings

   Long-term           4,337,116   100,265   4.66      4,417,226   99,938    4.55
   borrowings

     Total borrowings  4,373,653   100,383   4.62      4,798,388   105,525   4.42

   Total deposits and  15,650,200  173,812   2.24      14,784,120  191,207   2.60
   borrowings

  Other liabilities    391,814                         363,429

   Total liabilities   16,042,014                      15,147,549

  Stockholders'        1,352,149                       1,106,905
  equity

   Total liabilities   $                               $
   and stockholders'   17,394,163                      16,254,454
   equity

Net interest income                $         3.73   %              $         3.92  %
and margin                         301,876                         294,391

(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

                     June 30,    Mar. 31,    Dec. 31,    Sep. 30,    Jun. 30,

                     2009        2009        2008        2008        2008

Interest income:

 Loans and leases    $ 215,400   $ 209,377   $ 211,322   $ 210,651   $ 208,407

 Securities            23,217      25,701      25,232      28,577      28,858
 available for sale

 Education loans       -           -           24          123         1,756
 held for sale

 Investments and       1,137       856         1,224       1,644       1,427
 other

  Total interest       239,754     235,934     237,802     240,995     240,448
  income

Interest expense:

 Deposits              33,345      40,084      37,362      33,730      36,954

 Borrowings            49,946      50,437      53,323      55,100      51,932

  Total interest       83,291      90,521      90,685      88,830      88,886
  expense

   Net interest        156,463     145,413     147,117     152,165     151,562
   income

Provision for          61,891      43,712      47,050      52,105      62,895
credit losses

  Net interest
  income after         94,572      101,701     100,067     100,060     88,667
  provision for
  credit losses

Non-interest
income:

 Fees and service      77,536      57,064      67,448      71,783      67,961
 charges

 Card revenue          26,604      24,960      25,243      26,240      26,828

 ATM revenue           7,973       7,598       7,688       8,720       8,267

  Subtotal             112,113     89,622      100,379     106,743     103,056

 Leasing and           16,881      12,651      16,298      13,006      14,050
 equipment finance

 Other                 820         458         130         3,296       4,398

  Fees and other       129,814     102,731     116,807     123,045     121,504
  revenue

 Gains on              10,556      11,548      8,167       498         1,115
 securities

   Total
   non-interest        140,370     114,279     124,974     123,543     122,619
   income

Non-interest
expense:

 Compensation and      90,752      86,190      83,323      84,895      84,267
 employee benefits

 Occupancy and         31,527      32,047      32,503      31,832      31,205
 equipment

 Deposit account       7,287       6,576       5,659       7,292       2,441
 premiums

 Advertising and       4,134       4,445       4,643       5,017       4,689
 promotions

 Operating lease       3,860       4,024       4,269       4,215       4,460
 depreciation

 FDIC insurance        13,303      3,795       1,706       426         437
 premiums

 Foreclosed real
 estate and            6,125       4,291       6,341       4,883       4,892
 repossessed assets

 Other                 39,558      32,840      41,366      39,028      36,338

  Total
  non-interest         196,546     174,208     179,810     177,588     168,729
  expense

   Income before
   income tax          38,396      41,772      45,231      46,015      42,557
   expense

Income tax expense     14,853      15,125      17,527      15,889      18,855

  Net income           23,543      26,647      27,704      30,126      23,702

Preferred stock        1,193       5,185       2,540       -           -
dividends

Non-cash deemed
preferred stock        12,025      -           -           -           -
dividend

 Net income
 available to        $ 10,325    $ 21,462    $ 25,164    $ 30,126    $ 23,702
 common
 stockholders

Net income per
common share:

 Basic               $ .08       $ .17       $ .20       $ .24       $ .19

 Diluted               .08         .17         .20         .24         .19

Dividends declared   $ .05       $ .25       $ .25       $ .25       $ .25
per common share

Financial Ratios:

Return on average      .53     %   .62     %   .68     %   .73     %   .58     %
assets(1)

Return on average      3.61        7.58        9.00        11.11       8.57
common equity(1)

Net interest margin    3.80        3.66        3.84        3.97        4.00
(1)

Average common
equity to average      6.48        6.61        6.81        6.61        6.76
assets

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS

(In thousands)

(Unaudited)

                      June 30,        Mar. 31,        Dec. 31,        Sep. 30,        Jun. 30,

                      2009            2009            2008            2008            2008

ASSETS

Cash and due from     $ 564,853       $ 609,168       $ 297,252       $ 288,884       $ 280,606
banks

Investments             166,824         165,243         166,580         157,612         148,366

U.S. Government
sponsored enterprise
and                     1,656,767       2,002,962       1,963,608       2,157,047       2,180,572
federal agencies
mortgage-backed
securities

U.S. Government
sponsored enterprise    527,562         8,908           -               -               -
debentures

Other securities        498             506             2,953           3,840           4,008

 Total securities       2,184,827       2,012,376       1,966,561       2,160,887       2,184,580
 available for sale

Education loans held    -               -               1,876           12,516          123,457
for sale

Loans and leases:

 Consumer real
 estate

  Fixed-rate            5,453,117       5,477,467       5,496,533       5,550,124       5,581,129

  Variable-rate         1,840,983       1,818,232       1,793,650       1,758,458       1,702,824

 Consumer - other       36,255          39,539          43,619          45,939          46,492

   Total consumer
   real estate and      7,330,355       7,335,238       7,333,802       7,354,521       7,330,445
   other

 Commercial real
 estate

  Fixed- and            2,531,026       2,410,335       2,287,226       2,181,838       2,062,983
  adjustable-rate

  Variable-rate         579,004         588,181         608,709         594,992         593,409

   Total commercial     3,110,030       2,998,516       2,895,935       2,776,830       2,656,392
   real estate

 Commercial business

  Fixed- and            173,000         175,445         171,687         167,079         157,740
  adjustable-rate

  Variable-rate         310,493         324,311         350,949         377,747         371,730

   Total commercial     483,493         499,756         522,636         544,826         529,470
   business

 Leasing and            2,809,787       2,632,893       2,389,225       2,300,429       2,229,467
 equipment finance

 Inventory finance      118,317         28,475          158             -               -

  Total loans and       13,851,982      13,494,878      13,141,756      12,976,606      12,745,774
  leases

 Allowance for loan     (181,895   )    (174,364   )    (160,662   )    (140,362   )    (102,126   )
 and lease losses

  Net loans and         13,670,087      13,320,514      12,981,094      12,836,244      12,643,648
  leases

Premises and            449,622         450,128         447,249         443,185         442,016
equipment

Goodwill                152,599         152,599         152,599         152,599         152,599

Other assets            447,105         439,692         394,024         359,632         398,582

                      $ 17,635,917    $ 17,149,720    $ 16,407,235    $ 16,411,559    $ 16,373,854

LIABILITIES AND
STOCKHOLDERS' EQUITY

Non-interest-bearing
deposits:

 Retail               $ 1,446,215     $ 1,428,453     $ 1,345,832     $ 1,409,855     $ 1,464,237

 Small business         571,676         563,236         593,626         597,894         577,510

 Commercial and         260,079         227,470         234,045         253,900         238,779
 custodial

  Total non-interest    2,277,970       2,219,159       2,173,503       2,261,649       2,280,526
  bearing deposits

Interest-bearing
deposits:

 Checking               1,792,493       1,747,480       1,754,111       1,837,540       1,883,948

 Savings and money      5,514,098       4,446,622       3,473,036       3,421,464       3,493,213
 market

  Subtotal              7,306,591       6,194,102       5,227,147       5,259,004       5,377,161

 Certificates of        2,087,490       2,463,405       2,448,815       2,469,327       2,471,216
 deposit

  Total
  interest-bearing      9,394,081       8,657,507       7,675,962       7,728,331       7,848,377
  deposits

   Total deposits       11,672,051      10,876,666      9,849,465       9,989,980       10,128,903

Borrowings:

 Short-term             29,027          44,131          454,202         429,861         363,302
 borrowings

 Long-term              4,307,777       4,366,782       4,435,730       4,567,706       4,419,821
 borrowings

  Total borrowings      4,336,804       4,410,913       4,889,932       4,997,567       4,783,123

Accrued expenses and    403,561         380,202         366,063         339,304         355,187
other liabilities

  Total liabilities     16,412,416      15,667,781      15,105,460      15,326,851      15,267,213

Stockholders'
equity:

 Preferred stock        80,540          348,727         183,981         -               -

 Common stock           1,304           1,305           1,309           1,309           1,311

 Additional paid-in     301,937         319,872         328,078         336,127         347,043
 capital

 Retained earnings      922,856         914,972         924,456         927,939         935,184

 Accumulated other      (5,097     )    (5,745     )    (13,896    )    (36,468    )    (19,748    )
 comprehensive loss

 Treasury stock at      (78,039    )    (97,192    )    (122,153   )    (144,199   )    (157,149   )
 cost and other

                        1,223,501       1,481,939       1,301,775       1,084,708       1,106,641

                      $ 17,635,917    $ 17,149,720    $ 16,407,235    $ 16,411,559    $ 16,373,854



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES(1)

(Unaudited)

                          June 30,   Mar. 31,   Dec. 31,   Sep. 30,   Jun. 30,

                          2009       2009       2008       2008       2008

ASSETS

  Investments and other   1.00     % .71      % 2.93     % 4.16     % 3.86     %

  U.S. Government
  sponsored enterprise
  and                     4.91       5.12       5.13       5.29       5.29
  federal agencies
  mortgage-backed
  securities

  U.S. Government
  sponsored enterprise    2.17       1.57       -          -          -
  debentures

  Other securities        5.63       5.58       3.93       3.64       3.89

   Total securities       4.25       5.11       5.13       5.29       5.28
   available for sale

  Education loans held    -          -          5.09       3.91       5.72
  for sale

  Loans and leases:

   Consumer real estate

    Fixed-rate            6.52       6.57       6.63       6.70       6.74

    Variable-rate         5.79       5.85       6.00       6.19       6.26

   Consumer - other       8.64       8.43       8.57       8.34       8.60

     Total consumer real  6.34       6.40       6.48       6.59       6.64
     estate and other

   Commercial real
   estate

    Fixed- and            6.00       6.11       6.14       6.13       6.20
    adjustable-rate

    Variable-rate         3.95       3.89       4.87       4.97       5.04

     Total commercial     5.62       5.67       5.87       5.88       5.95
     real estate

   Commercial business

    Fixed- and            5.71       5.89       5.65       5.63       6.20
    adjustable-rate

    Variable-rate         3.27       2.98       4.44       4.59       4.86

     Total commercial     4.15       4.01       4.83       4.91       5.26
     business

   Leasing and equipment  6.89       7.00       7.15       7.14       7.38
   finance

   Inventory finance      8.35       8.64       10.13      -          -

    Total loans and       6.23       6.27       6.41       6.47       6.57
    leases

     Total
     interest-earning     5.83       5.96       6.20       6.27       6.35
     assets

LIABILITIES

  Interest-bearing
  deposits:

   Checking               .44        .62        .67        .54        .60

   Savings and money      1.25       1.76       1.79       1.45       1.48
   market

    Subtotal              1.05       1.44       1.41       1.13       1.17

   Certificates of        2.72       2.98       3.05       3.02       3.47
   deposit

    Total
    interest-bearing      1.42       1.88       1.94       1.74       1.89
    deposits

     Total deposits       1.15       1.49       1.51       1.34       1.47

  Borrowings:

   Short-term borrowings  .33        .86        .97        2.13       2.19

   Long-term borrowings   4.65       4.67       4.69       4.60       4.54

    Total borrowings      4.62       4.63       4.34       4.39       4.37

     Total
     interest-bearing     2.43       2.81       2.87       2.78       2.82
     liabilities

Net interest margin       3.80     % 3.66     % 3.84     % 3.97     % 4.00     %

(1) Annualized



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

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