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Press Release

TCF Reports 58th Consecutive Quarter of Net Income - Earns $17.5 Million

Company Release - 10/21/2009 8:30 AM ET

THIRD QUARTER HIGHLIGHTS

    --  Diluted earnings per common share was 14 cents
    --  Net income of $17.5 million
    --  Net interest margin of 3.92 percent
    --  Average loans and leases increased by $995 million, or 7.7 percent
    --  Average deposits increased by $1.6 billion, or 16.1 percent
    --  Announced quarterly cash dividend of five cents per common share,
        payable November 30, 2009

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

Earnings Summary       Table 1

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

            3Q         2Q         3Q         3Q09 vs 3Q09 vs YTD        YTD         Percent
            2009       2009       2008       2Q09    3Q08    2009       2008        Change

Net income  $ 17,451   $ 23,543   $ 30,126   (25.9 ) (42.1 ) $ 67,641   $ 101,254   (33.2 )

Diluted
earnings      .14        .08        .24      75.0    (41.7 )   .39        .81       (51.9 )
per common
share

Financial
Ratios (1)

Return on
average       .39    %   .53    %   .73    %                   .52    %   .83     %
assets

Return on
average       6.03       7.82       11.11                      7.13       12.29
common
equity(2)

Net
interest      3.92       3.80       3.97                       3.80       3.94
margin

Net
charge-offs
as a
percentage    1.52       1.43       .82                        1.33       .70
of average
loans and
leases

(1) Annualized

(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 5.73% for the second quarter and year-to-date of 2009, respectively.



TCF Financial Corporation ("TCF") (NYSE:TCB) today reported third quarter 2009 diluted earnings per common share of 14 cents, compared with 24 cents in the third quarter of 2008 and 8 cents for the second quarter of 2009. Net income for the third quarter of 2009 was $17.5 million, compared with $30.1 million in the third quarter of 2008 and $23.5 million in the second quarter of 2009.

Diluted earnings per common share for the first nine months of 2009 was 39 cents, compared with 81 cents for the same 2008 period. Net income for the first nine months of 2009 was $67.6 million, compared with $101.3 million for the same 2008 period.

TCF declared a quarterly cash dividend of five cents per common share payable on November 30, 2009 to stockholders of record at the close of business on October 30, 2009.

Chairman's Statement

"The third quarter continued to pose many challenges for TCF and other banks as the effects of high unemployment and the resulting increase in consumer defaults and softness in spending continue to pressure earnings," said William A. Cooper, TCF Chairman and CEO. "While credit losses continue to dampen our results, fee income and net interest margin remained strong. In addition, our focus on growing low cost deposits and expanding our specialty finance businesses position TCF for improved earnings as the economy improves."

Total                                                Table 2
Revenue

                                                     Percent Change

($ in         3Q           2Q           3Q           3Q09 vs  3Q09 vs  YTD 2009     YTD 2008     Percent
thousands)    2009         2009         2008         2Q09     3Q08                               Change

Net interest  $ 161,489    $ 156,463    $ 152,165    3.2   %  6.1   %  $ 463,365    $ 446,556    3.8   %
income

Fees and
other
revenue:

Fees and
service         77,433       77,536       71,783     (.1   )  7.9        212,033      203,291    4.3
charges

Card revenue    26,393       26,604       26,240     (.8   )  .6         77,957       77,839     .2

ATM revenue     7,861        7,973        8,720      (1.4  )  (9.9  )    23,432       24,957     (6.1  )

Total           111,687      112,113      106,743    (.4   )  4.6        313,422      306,087    2.4
banking fees

Leasing and
equipment       15,173       16,881       13,006     (10.1 )  16.7       44,705       39,190     14.1
finance

Other           1,197        820          3,296      46.0     (63.7 )    2,475        11,977     (79.3 )

Total fees
and other       128,057      129,814      123,045    (1.4  )  4.1        360,602      357,254    .9
revenue

Gains on        -            10,556       498        N.M.     N.M.       22,104       7,899      179.8
securities

Visa share      -            -            -          -        -          -            8,308      N.M.
redemption

Total
non-interest    128,057      140,370      123,543    (8.8  )  3.7        382,706      373,461    2.5
income

Total         $ 289,546    $ 296,833    $ 275,708    (2.5  )  5.0      $ 846,071    $ 820,017    3.2
revenue

Net interest    3.92    %    3.80    %    3.97    %                      3.80    %    3.94    %
margin(1)

Fees and
other
revenue as a    44.23        43.73        44.63                          42.62        43.57
% of total
revenue

N.M. = Not Meaningful

(1) Annualized



Net Interest Income

    --  The increase in net interest income from the third quarter of 2008 was
        primarily due to an increase in average loans and leases, partially
        offset by a decrease in net interest margin. The increase in net
        interest income from the second quarter of 2009 was primarily due to an
        increase in average loans and leases and an increase in net interest
        margin.
    --  The decrease in net interest margin from the third quarter of 2008 was
        primarily due to declines in yields on interest-earning assets,
        resulting from lower market interest rates, the effect of higher
        balances of non-accrual loans and leases, loan modifications and
        investments in lower yielding agency debentures, partially offset by
        declines in rates paid on average deposits.
    --  The increase in net interest margin from the second quarter of 2009 was
        primarily due to reductions in rates paid on deposits, partially offset
        by the effects of higher balances of non-accrual loans and leases, loan
        modifications and lower average yields on the leasing and equipment
        finance portfolio.

Non-interest Income

    --  Banking fees and service charges were $77.4 million, up $5.7 million, or
        7.9 percent, from the third quarter of 2008 and essentially flat with
        the second quarter of 2009. The increase from the third quarter of 2008
        was primarily due to an increased number of checking accounts and
        related fee income.
    --  Card revenues totaled $26.4 million for the third quarter of 2009,
        essentially flat with the third quarter of 2008 and the second quarter
        of 2009. Growth in active accounts was offset by fewer transactions and
        lower average transaction amounts.
    --  Leasing and equipment finance revenues were $15.2 million for the third
        quarter of 2009, up $2.2 million, or 16.7 percent, from the third
        quarter of 2008 and down $1.7 million, or 10.1 percent, from the second
        quarter of 2009. The increase in leasing revenue from the third quarter
        of 2008 and decrease from the second quarter of 2009 was primarily due
        to sales-type lease revenue which varies from period to period based on
        customer-driven events.
    --  Other non-interest income was $1.2 million for the third quarter of
        2009, down $2.1 million, or 63.7 percent, from the third quarter of
        2008, and up $377 thousand, or 46 percent, from the second quarter of
        2009. The decrease in other non-interest income from the third quarter
        of 2008 was primarily due to TCF no longer selling investment and
        insurance products in the branches, partially offset by servicing fees
        generated by TCF Inventory Finance.

Loans and Leases

Average Loans and Leases                              Table 3

                                                      Percent Change

($ in       3Q            2Q            3Q            3Q09    3Q09 vs                              Percent
thousands)  2009          2009          2008          vs      3Q08     YTD 2009      YTD 2008      Change
                                                      2Q09

Loans and
leases:

Consumer
real
estate

First
mortgage    $ 4,939,529   $ 4,938,187   $ 4,874,190   -    %  1.3   %  $ 4,924,902   $ 4,825,185   2.1   %
lien

Junior        2,329,096     2,355,913     2,434,392   (1.1 )  (4.3  )    2,361,140     2,407,350   (1.9  )
lien

Total
consumer      7,268,625     7,294,100     7,308,582   (.3  )  (.5   )    7,286,042     7,232,535   .7
real
estate

Consumer      35,015        36,255        45,939      (3.4 )  (23.8 )    36,920        45,481      (18.8 )
other

Total         7,303,640     7,330,355     7,354,521   (.4  )  (.7   )    7,322,962     7,278,016   .6
consumer

Commercial
real          3,193,686     3,110,030     2,776,830   2.7     15.0       3,101,459     2,666,948   16.3
estate

Commercial    477,041       483,493       544,826     (1.3 )  (12.4 )    486,680       539,348     (9.8  )
business

Total         3,670,727     3,593,523     3,321,656   2.1     10.5       3,588,139     3,206,296   11.9
commercial

Leasing
and           2,811,165     2,809,787     2,300,429   -       22.2       2,751,935     2,223,811   23.7
equipment
finance

Inventory     185,914       118,317       -           57.1    N.M.       111,479       -           N.M.
finance

Total
Loans and   $ 13,971,446  $ 13,851,982  $ 12,976,606  .9      7.7      $ 13,774,515  $ 12,708,123  8.4
Leases

N.M. = Not meaningful



    --  Average consumer real estate loan balances were relatively flat from the
        third quarter of 2008 and the second quarter of 2009 reflecting less
        demand for home equity financing due in part to declines in home values
        and very competitive pricing from government sponsored and supported
        programs.
    --  At September 30, 2009, 68 percent of the consumer real estate loan
        portfolio was secured by first liens.
    --  Average commercial loan balances increased $349.1 million, or 10.5
        percent, from the third quarter of 2008 and increased $77.2 million, or
        2.1 percent, from the second 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 $510.7 million,
        or 22.2 percent, from the third quarter of 2008 and were relatively flat
        when compared to the second quarter of 2009. At the end of September
        2009, TCF's leasing subsidiary, Winthrop Resources Corporation, acquired
        Fidelity National Capital, Inc., with over $200 million in direct
        financing leases. Additionally, this acquisition included $57.9 million
        in operating leases which are recorded as other assets. Portfolio
        purchases and company acquisitions in the first and third quarters of
        2009 contributed $198.2 million of the increase in average balances from
        the third quarter of 2008.
    --  Average inventory finance loans increased $67.6 million, or 57.1
        percent, to $185.9 million from the second quarter of 2009.
    --  In the third quarter of 2009, TCF announced the creation of Red Iron
        Acceptance, LLC, a joint venture with The Toro Company, which will
        provide U.S. Toro distributors and dealers with floor plan and open
        account financing. In October 2009, this joint venture purchased $72.7
        million of inventory finance loans from The Toro Company. Red Iron
        Acceptance, LLC is consolidated with the operating results of TCF.

Securities Available for Sale

Average Securities Available for Sale                   Table 4

                                                        Yield                                    Yield

($ in            3Q           2Q           3Q           3Q09    3Q08    YTD 2009     YTD 2008    YTD     YTD
thousands)       2009         2009         2008                                                  2009    2008

U.S. Government
sponsored
entities:

Mortgage-backed  $ 1,432,670  $ 1,656,767  $ 2,157,047  4.80 %  5.29 %  $ 1,695,377  $2,146,185  4.97 %  5.30 %
securities

Debentures         600,098      527,562      -          2.19    -         381,022    -           2.16    -

Other              489          498          3,840      4.91    3.64      497        15,938      5.37    3.48
securities

Total            $ 2,033,257  $ 2,184,827  $ 2,160,887  4.03    5.29    $ 2,076,896  $           4.45    5.29
                                                                                     2,162,123



    --  TCF purchased $5 million of mortgage-backed securities in the third
        quarter of 2009, compared with $204 million of purchases and $381
        million of sales in the second quarter of 2009.
    --  In late March and April of 2009, TCF purchased $600.1 million of Fannie
        Mae and Freddie Mac callable debentures with maturities of three years
        or less resulting in a reduction in lower yielding interest-bearing
        deposits at the Federal Reserve.

Deposits

Average Deposits                                Table 5

                                                              Percent Change

                  3Q             2Q             3Q            3Q09 vs   3Q09 vs  YTD            YTD           Percent
($ in thousands)
                  2009           2009           2008          2Q09      3Q08     2009           2008          Change

Non-interest
bearing deposits:

Retail            $ 1,380,591    $ 1,446,215    $ 1,409,855   (4.5  )%  (2.1  )% $ 1,418,244    $ 1,429,752   (.8   )%

Small business      591,451        571,676        597,894     3.5       (1.1  )    575,558        580,248     (.8   )

Commercial          277,135        260,079        253,900     6.6       9.2        255,066        231,184     10.3

Subtotal            2,249,177      2,277,970      2,261,649   (1.3  )   (.6   )    2,248,868      2,241,184   .3

Interest-bearing
deposits:

Checking            1,800,583      1,792,493      1,837,540   .5        (2.0  )    1,780,380      1,855,963   (4.1  )

Savings             5,071,509      4,823,897      2,791,559   5.1       81.7       4,569,882      2,800,120   63.2

Money market        723,098        690,201        629,905     4.8       14.8       686,830        609,629     12.7

Subtotal            7,595,190      7,306,591      5,259,004   3.9       44.4       7,037,092      5,265,712   33.6

Certificates        1,757,884      2,087,490      2,469,327   (15.8 )   (28.8 )    2,100,342      2,480,262   (15.3 )

Subtotal            9,353,074      9,394,081      7,728,331   (.4   )   21.0       9,137,434      7,745,974   18.0

Total deposits    $ 11,602,251   $ 11,672,051   $ 9,989,980   (.6   )   16.1     $ 11,386,302   $ 9,987,158   14.0

Average interest    .94        %   1.15       %   1.34      %                      1.19       %   1.60      %
rate on deposits



    --  Total average deposits increased $1.6 billion from the third quarter of
        2008 and remained relatively flat compared to the second quarter of
        2009. The increase from the third 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 resulting from reduced interest rates. Average
        deposit balances remained relatively flat from the second quarter of
        2009 primarily due to increases in savings deposits offset by a decrease
        in certificates of deposit.
    --  The average rate paid on deposits was .94 percent in the third quarter
        of 2009, down 40 basis points from the third quarter of 2008 and down 21
        basis points from the second quarter of 2009 due to reductions in
        interest rates paid on certain deposit products and mix changes due to
        management's strategy to reduce balances of certificates of deposit. The
        weighted average interest rate on total deposits was .90 percent at
        September 30, 2009.
    --  The number of new checking accounts opened in the third quarter of 2009
        increased 12.6 percent compared with the third quarter of 2008 and
        increased 8.9 percent from the second quarter of 2009.

Non-interest Expense

Non-interest Expense                          Table 6

                                              Percent Change

($ in        3Q         2Q         3Q         3Q09 vs   3Q09 vs  YTD        YTD        Percent
thousands)
             2009       2009       2008       2Q09      3Q08     2009       2008       Change

Compensation
and employee $ 90,680   $ 90,752   $ 84,895   (.1   )%  6.8   %  $ 267,622  $ 257,880  3.8   %
benefits

Occupancy
and            31,619     31,527     31,832   .3        (.7   )    95,193     95,450   (.3   )
equipment

Deposit
account        7,472      7,287      7,292    2.5       2.5        21,335     11,229   90.0
premiums

Advertising
and            4,766      4,134      5,017    15.3      (5.0  )    13,345     14,507   (8.0  )
marketing

Operating
lease          3,734      3,860      4,215    (3.3  )   (11.4 )    11,618     13,189   (11.9 )
depreciation

FDIC
premiums and   5,085      13,303     426      (61.8 )   N.M.       22,183     1,284    N.M.
assessments

Foreclosed
real estate
and            8,038      6,125      4,883    31.2      64.6       18,454     12,390   48.9
repossessed
assets

Other          38,873     39,558     39,028   (1.7  )   (.4   )    111,271    108,664  2.4

Total
non-interest $ 190,267  $ 196,546  $ 177,588  (3.2  )   7.1      $ 561,021  $ 514,593  9.0
expense

N.M. = Not meaningful



    --  Compensation and benefits expenses increased $5.8 million, or 6.8
        percent, from the third quarter of 2008 and were relatively flat
        compared to the second quarter of 2009. The increase from the third
        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.
    --  FDIC premiums and assessments were up $4.7 million from the third
        quarter of 2008 and down $8.2 million from the second quarter of 2009.
        The increase from the third quarter of 2008 was primarily due to higher
        insurance rates and deposit growth. The decrease from the second quarter
        of 2009 was primarily attributable to a FDIC special assessment of $8.2
        million in June of 2009.
    --  Foreclosed real estate and repossessed asset expenses increased $3.2
        million from the third quarter of 2008 and increased $1.9 million from
        the second quarter of 2009. The increases from both periods were
        primarily due to increased numbers of foreclosed commercial and consumer
        real estate properties, adjustments to property valuations and losses on
        sales of properties.

Credit Quality

Credit Quality                            Table 7
Summary

                                                       Percent Change

($ in           3Q           2Q           3Q           3Q09    3Q09    YTD           YTD          %
thousands)                                             vs      vs                                 Chg
                2009         2009         2008         2Q09    3Q08    2009          2008

Allowance for
Loan and Lease
Losses

Balance at
beginning of    $ 193,445    $ 181,216    $ 133,637    6.7  %  44.8 %  $ 172,442     $ 80,942     113.0 %
period

Charge-offs       (57,214 )    (53,462 )    (29,976 )  7.0     90.9      (149,557 )    (77,700 )  92.5

Recoveries        3,957        3,800        3,212      4.1     23.2      11,700        10,741     8.9

Net               (53,257 )    (49,662 )    (26,764 )  7.2     99.0      (137,857 )    (66,959 )  105.9
charge-offs

Provision for     75,544       61,891       52,105     22.1    45.0      181,147       144,995    24.9
credit losses

Balance at end  $ 215,732    $ 193,445    $ 158,978    11.5    35.7    $ 215,732     $ 158,978    35.7
of period

Allowance as a
percentage of
period end        1.51    %    1.39    %    1.21    %                    1.51     %    1.21    %
loans and
leases

Ratio of
allowance to    1.0X         1.0X         1.5X                         1.2X          1.8X
net
charge-offs(1)

Credit Loss
Reserves

Allowance for
loan and lease  $ 215,732    $ 193,445    $ 158,978    11.5    35.7
losses

Reserves
netted against    12,951       13,828       -          (6.3 )  N.M.
portfolio
asset balances

Reserves for
unfunded          2,871        2,655        1,678      8.1     71.1
commitments

Total credit    $ 231,554    $ 209,928    $ 160,656    10.3    44.1
loss reserves

Total credit
loss reserves
as a % of         1.61    %    1.50    %    1.23    %
period end
loans and
leases

Ratio of total
credit loss
reserves to
net             1.0X         1.0X         1.5X

charge-offs(1)
(2)

Non-accrual
loans and       $ 268,834    $ 239,917    $ 145,890    12.1    84.3
leases

Real estate       94,167       96,862       54,179     (2.8 )  73.8
owned

Total
non-performing  $ 363,001    $ 336,779    $ 200,069    7.8     81.4
assets

Non-performing
assets as a
                  2.57    %    2.45    %    1.55    %
percentage of
net loans and
leases

Accruing
consumer
troubled debt   $ 159,881    $ 51,483     $ 23,844     N.M.    N.M.

restructurings

N.M. = Not Meaningful

(1) Annualized

(2) Includes $1.9 million in write-offs related to credit reserves netted against portfolio asset
balances in the third quarter of 2009



At September 30, 2009, TCF's:

    --  Allowance for loan and lease losses was $215.7 million, or 1.51 percent
        of loans and leases, up from $193.4 million, or 1.39 percent of loans
        and leases at June 30, 2009.
    --  Over-60-day delinquency rate was .81 percent, up from .72 percent at
        June 30, 2009, primarily due to increases in consumer real estate.
    --  Non-accrual loans and leases increased $28.9 million, or 12.1 percent,
        from June 30, 2009 primarily due to increases in consumer and commercial
        real estate non-accrual loans.
    --  TCF completed $215.2 million and $590.7 million of consumer real estate
        loan modifications in the third quarter and first nine months of 2009,
        respectively. Of these modifications, $112.3 million in the third
        quarter and $144.7 million in the first nine months were considered
        troubled debt restructurings which continue to accrue interest.
    --  TCF has several programs designed to help consumer real estate customers
        avoid home foreclosures by extending payment dates or reducing interest
        rates. Loan modification programs for consumer real estate borrowers
        implemented in the third quarter of 2009 have resulted in a significant
        increase in restructured loans. Primarily these loans are classified as
        troubled debt restructurings and generally accrue interest although at
        lower rates than the original loan. TCF expects the balance of consumer
        real estate troubled debt restructurings to increase into 2010.

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

    --  Provision for credit losses was $75.5 million, up from $52.1 million in
        the third quarter of 2008 and up from $61.9 million in the second
        quarter of 2009. The increase from the third quarter of 2008 was
        primarily due to increased consumer real estate, commercial and leasing
        net charge-offs and reserves for certain commercial loans and
        restructured consumer real estate loans. The increase from the second
        quarter of 2009 was primarily due to increased leasing and equipment
        finance and consumer real estate net charge-offs and reserves for
        restructured consumer real estate loans, partially offset by decreased
        commercial real estate net charge-offs.
    --  Net loan and lease charge-offs were $53.3 million, or 1.52 percent
        annualized, of average loans and leases, up from $49.7 million, or 1.43
        percent annualized, of average loans and leases, from the second quarter
        of 2009 primarily due to increases in consumer real estate and leasing
        and equipment finance net charge-offs, partially offset by decreased
        commercial real estate net charge-offs.

Income Taxes

    --  Income tax expense was 27.4 percent of pre-tax income for the third
        quarter of 2009, compared with 34.5 percent for the comparable 2008
        period and 38.7 percent for the second quarter of 2009. The third
        quarter of 2009 income tax expense included a $3 million decrease in
        income tax expense related to favorable developments in uncertain tax
        positions, partially offset by a slight increase in the effective income
        tax rate. Excluding the decrease in income tax expense related to
        favorable developments in uncertain tax positions and first six months
        impact of the increase in the effective income tax rate, the effective
        income tax rate for the third quarter of 2009 was 38.8 percent.

Capital and Liquidity

Capital Information                                                      Table 8

At period end

($ in thousands, except per-share
data)                                 3Q                   4Q

                                      2009                 2008



Total TCF stockholders' equity      $ 1,176,235            $ 1,493,776

Total equity                        $ 1,179,839            $ 1,493,776

Total equity to total assets          6.65      %            8.92      %

Book value per common share         $ 9.14                 $ 8.99

Tangible realized common equity to    5.81      %            6.01      %
tangible assets(1)

Risk-based capital

Tier 1                              $ 1,142,351   8.57  %  $ 1,461,973   11.79 %

Total                                 1,491,365   11.19      1,817,225   14.65

Total stated "well-capitalized"       1,332,440   10.00      1,240,147   10.00
requirement

Excess over stated                    158,925     1.19       577,078     4.65
"well-capitalized" requirement

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



    --  TCF's total risk-based capital at September 30, 2009 of $1.5 billion, or
        11.19 percent of risk-weighted assets, was $158.9 million in excess of
        the stated "well-capitalized" requirement.
    --  On October 19, 2009, the Board of Directors of TCF declared a regular
        quarterly cash dividend of five cents per common share payable on
        November 30, 2009 to stockholders of record at the close of business on
        October 30, 2009.
    --  At September 30, 2009, TCF had $58.9 million on deposit with the Federal
        Reserve, which is included in cash and due from banks, compared with
        $147.9 million at June 30, 2009.
    --  At September 30, 2009, TCF had $2.1 billion in unused, secured borrowing
        capacity at the FHLB of Des Moines and $818 million in unused, secured
        borrowing capacity at the Federal Reserve Discount Window. Also, TCF had
        $1.2 billion of active, unsecured federal funds purchased lines which
        are not contractually committed.

Website Information

A live webcast of TCF's conference call to discuss third quarter earnings will be hosted at TCF's website, www.tcfbank.com, on October 21, 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 $17.7 billion in total assets. TCF has 443 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 visit www.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 which could include the creation of a new consumer protection agency and limits on Federal preemption for state laws that could be applied to national banks; 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 regulatory or 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 state or Federal tax assessments or findings in tax audits; adverse 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 class action litigation concerning TCF's lending or deposit activities or fees or charges, 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

                                September 30,           Change

                                2009         2008       $            %

Interest income:

 Loans and leases               $ 217,307    $ 210,651  $ 6,656      3.2     %

 Securities available for sale    20,474       28,577     (8,103  )  (28.4 )

 Education loans held for sale    -            123        (123    )  N.M.

 Investments and other            1,217        1,644      (427    )  (26.0 )

  Total interest income           238,998      240,995    (1,997  )  (.8   )

Interest expense:

 Deposits                         27,512       33,730     (6,218  )  (18.4 )

 Borrowings                       49,997       55,100     (5,103  )  (9.3  )

  Total interest expense          77,509       88,830     (11,321 )  (12.7 )

   Net interest income            161,489      152,165    9,324      6.1

Provision for credit losses       75,544       52,105     23,439     45.0

  Net interest income after       85,945       100,060    (14,115 )  (14.1 )
  provision for credit losses

Non-interest income:

 Fees and service charges         77,433       71,783     5,650      7.9

 Card revenue                     26,393       26,240     153        .6

 ATM revenue                      7,861        8,720      (859    )  (9.9  )

  Subtotal                        111,687      106,743    4,944      4.6

 Leasing and equipment finance    15,173       13,006     2,167      16.7

 Other                            1,197        3,296      (2,099  )  (63.7 )

  Fees and other revenue          128,057      123,045    5,012      4.1

 Gains on securities              -            498        (498    )  N.M.

  Total non-interest income       128,057      123,543    4,514      3.7

Non-interest expense:

 Compensation and employee        90,680       84,895     5,785      6.8
 benefits

 Occupancy and equipment          31,619       31,832     (213    )  (.7   )

 Deposit account premiums         7,472        7,292      180        2.5

 Advertising and promotions       4,766        5,017      (251    )  (5.0  )

 FDIC premiums and assessments    5,085        426        4,659      N.M.

 Foreclosed real estate and       8,038        4,883      3,155      64.6
 repossessed assets

 Operating lease depreciation     3,734        4,215      (481    )  (11.4 )

 Other                            38,873       39,028     (155    )  (.4   )

  Total non-interest expense      190,267      177,588    12,679     7.1

   Pretax income                  23,735       46,015     (22,280 )  (48.4 )

Income tax expense                6,491        15,889     (9,398  )  (59.1 )

   Income after income tax        17,244       30,126     (12,882 )  (42.8 )
   expense

Income (loss) attributable to     (207    )    -          (207    )  N.M.
non-controlling interest

   Net income                     17,451       30,126     (12,675 )  (42.1 )

Preferred stock dividends         -            -          -          -

   Net income available to      $ 17,451     $ 30,126   $ (12,675 )  (42.1 )
   common stockholders

Net income per common share:

 Basic                          $ .14        $ .24      $ (.10    )  (41.7 )

 Diluted                          .14          .24        (.10    )  (41.7 )

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

Average common and common
equivalent shares outstanding
(in thousands):

  Basic                           126,811      124,978    1,833      1.5

  Diluted                         126,833      124,986    1,847      1.5

N.M. Not meaningful



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

                                Nine Months Ended

                                September 30,           Change

                                2009         2008       $            %

Interest income:

 Loans and leases               $ 642,084    $ 630,835  $ 11,249     1.8     %

 Securities available for sale    69,392       85,714     (16,322 )  (19.0 )

 Education loans held for sale    -            5,331      (5,331  )  N.M.

 Investments and other            3,210        4,713      (1,503  )  (31.9 )

  Total interest income           714,686      726,593    (11,907 )  (1.6  )

Interest expense:

 Deposits                         100,941      119,412    (18,471 )  (15.5 )

 Borrowings                       150,380      160,625    (10,245 )  (6.4  )

  Total interest expense          251,321      280,037    (28,716 )  (10.3 )

   Net interest income            463,365      446,556    16,809     3.8

Provision for credit losses       181,147      144,995    36,152     24.9

  Net interest income after       282,218      301,561    (19,343 )  (6.4  )
  provision for credit losses

Non-interest income:

 Fees and service charges         212,033      203,291    8,742      4.3

 Card revenue                     77,957       77,839     118        .2

 ATM revenue                      23,432       24,957     (1,525  )  (6.1  )

  Subtotal                        313,422      306,087    7,335      2.4

 Leasing and equipment finance    44,705       39,190     5,515      14.1

 Other                            2,475        20,285     (17,810 )  (87.8 )

  Fees and other revenue          360,602      365,562    (4,960  )  (1.4  )

 Gains on securities              22,104       7,899      14,205     179.8

  Total non-interest income       382,706      373,461    9,245      2.5

Non-interest expense:

 Compensation and employee        267,622      257,880    9,742      3.8
 benefits

 Occupancy and equipment          95,193       95,450     (257    )  (.3   )

 Deposit account premiums         21,335       11,229     10,106     90.0

 Advertising and promotions       13,345       14,507     (1,162  )  (8.0  )

 FDIC premiums and assessments    22,183       1,284      20,899     N.M.

 Foreclosed real estate and       18,454       12,390     6,064      48.9
 repossessed assets

 Operating lease depreciation     11,618       13,189     (1,571  )  (11.9 )

 Other                            111,271      108,664    2,607      2.4

  Total non-interest expense      561,021      514,593    46,428     9.0

   Pretax income                  103,903      160,429    (56,526 )  (35.2 )

Income tax expense                36,469       59,175     (22,706 )  (38.4 )

   Income after income tax        67,434       101,254    (33,820 )  (33.4 )
   expense

Income (loss) attributable to     (207    )    -          (207    )  N.M.
non-controlling interest

   Net income                     67,641       101,254    (33,613 )  (33.2 )

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

   Net income available to      $ 49,238     $ 101,254  $ (52,016 )  (51.4 )
   common stockholders

Net income per common share:

 Basic                          $ .39        $ .81      $ (.42    )  (51.9 )

 Diluted                          .39          .81        (.42    )  (51.9 )

Dividends declared per common   $ .35        $ .75      $ (.40    )  (53.3 )
share

Average common and common
equivalent shares outstanding
(in thousands):

  Basic                           126,403      124,807    1,596      1.3

  Diluted                         126,403      124,825    1,578      1.3

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

                                September 30,   December 31,    September 30,   December   September
                                                                                31,        30,

                                2009            2008            2008            2008       2008

ASSETS

Cash and due from banks         $ 329,663       $ 342,380       $ 297,701       (3.7  )  % 10.7    %

Investments                       155,627         155,725         167,115       (.1   )    (6.9  )

U.S. Government sponsored
entities:

 Mortgage-backed securities       1,454,833       1,965,554       2,099,358     (26.0 )    (30.7 )

 Debentures                       604,876         -               -             N.M.       N.M.

Other securities                  518             550             3,398         (5.8  )    (84.8 )

 Total securities available       2,060,227       1,966,104       2,102,756     4.8        (2.0  )
 for sale

Education loans held for sale     -               757             3,569         N.M.       N.M.

Loans and leases:

 Consumer real estate and         7,335,061       7,363,583       7,368,736     (.4   )    (.5   )
 other

 Commercial real estate           3,240,846       2,984,156       2,852,754     8.6        13.6

 Commercial business              466,991         506,887         549,337       (7.9  )    (15.0 )

 Leasing and equipment finance    3,061,559       2,486,082       2,330,841     23.1       31.3

 Inventory finance                224,807         4,425           -             N.M.       N.M.

       Total loans and leases     14,329,264      13,345,133      13,101,668    7.4        9.4

 Allowance for loan and lease     (215,732   )    (172,442   )    (158,978   )  (25.1 )    (35.7 )
 losses

       Net loans and leases       14,113,532      13,172,691      12,942,690    7.1        9.0

Premises and equipment, net       449,264         447,826         441,904       .3         1.7

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

Other assets                      482,097         502,275         402,261       (4.0  )    19.8

        Total assets            $ 17,743,009    $ 16,740,357    $ 16,510,595    6.0        7.5

LIABILITIES AND STOCKHOLDERS'
EQUITY

Deposits:

 Checking                       $ 4,098,643     $ 3,969,768     $ 4,089,044     3.2        .2

 Savings                          5,144,661       3,057,623       2,717,635     68.3       89.3

 Money market                     730,046         619,678         646,655       17.8       12.9

       Subtotal                   9,973,350       7,647,069       7,453,334     30.4       33.8

 Certificates of deposit          1,652,661       2,596,283       2,396,903     (36.3 )    (31.1 )

       Total deposits             11,626,011      10,243,352      9,850,237     13.5       18.0

Short-term borrowings             21,397          226,861         603,233       (90.6 )    (96.5 )

Long-term borrowings              4,524,955       4,433,913       4,630,776     2.1        (2.3  )

       Total borrowings           4,546,352       4,660,774       5,234,009     (2.5  )    (13.1 )

Accrued expenses and other        390,807         342,455         315,320       14.1       23.9
liabilities

       Total liabilities          16,563,170      15,246,581      15,399,566    8.6        7.6

Stockholders' equity:

 Preferred stock, par value
 $.01 per share,                  -               348,437         -             N.M.       -
 30,000,000 authorized; 0,
 361,172 and 0 issued

 Common stock, par value $.01
 per share,

       280,000,000 shares
       authorized;130,373,208,

       130,839,378 and
       130,951,694 shares         1,304           1,308           1,308         (.3   )    (.3   )
       issued

 Additional paid-in capital       304,190         330,474         329,897       (8.0  )    (7.8  )

 Retained earnings, subject to    932,882         927,893         934,121       .5         (.1   )
 certain restrictions

 Accumulated other                805             (3,692     )    (21,555    )  N.M.       N.M.
 comprehensive income (loss)

 Treasury stock at cost,
 1,623,705, 3,413,855 and         (62,946    )    (110,644   )    (132,742   )  (43.1 )    (52.6 )
 3,761,925 shares, and other

        Total TCF                 1,176,235       1,493,776       1,111,029     (21.3 )    5.9
        stockholders' equity

 Non-controlling interest in      3,604           -               -             N.M.       N.M.
 subsidiaries

        Total equity              1,179,839       1,493,776       1,111,029     (21.0 )    6.2

        Total liabilities and   $ 17,743,009    $ 16,740,357    $ 16,510,595    6.0        7.5
        stockholders' equity

N.M. Not meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance for
loan and lease                                                                                Allowance as % of Portfolio
losses

                  At September 30, 2009   At June 30, 2009           At September 30, 2008    Change from

                  Allowance               Allowance                  Allowance                Jun. 30,        Sep. 30,

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

     Consumer     $ 136,783    1.88    %  $ 114,283       1.57    %  $ 84,693      1.16    %    31        bps   72        bps
     real estate

     Consumer       2,945      5.15         3,026         5.00         2,938       4.18         15              97
     other

      Total
      consumer
      real          139,728    1.90         117,309       1.60         87,631      1.19         30              71
      estate and
      other

     Commercial     38,335     1.18         36,208        1.15         39,636      1.39         3               (21     )
     real estate

     Commercial     7,706      1.65         10,354        2.13         12,575      2.29         (48     )       (64     )
     business

     Leasing and
     equipment      29,130     .95          28,921        1.02         19,136      .82          (7      )       13
     finance

     Inventory      833        .37          653           .42          -           -            (5      )       37
     finance

      Total
      allowance
      for loan    $ 215,732    1.51       $ 193,445       1.39       $ 158,978     1.21         12              30
      and lease
      losses

Credit Loss       At September 30,        At June 30, 2009           At September 30, 2008    Change from
Reserves          2009

                  Credit loss reserve     Credit loss reserve        Credit loss reserve      Jun. 30,        Sep. 30,

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

     Allowance
     for loan     $ 215,732    1.51    %  $ 193,445       1.39    %  $ 158,978     1.21    %    12        bps   30        bps
     and lease
     losses

     Reserves
     netted
     against        12,951   N.M.           13,828      N.M.           -           -            -               -
     portfolio
     asset
     balances

     Reserves
     for            2,871    N.M.           2,655       N.M.           1,678     N.M.           -               -
     unfunded
     commitments

      Total
      credit      $ 231,554    1.61       $ 209,928       1.50       $ 160,656     1.23         11              38
      loss
      reserves

Net Charge-Offs              Quarter Ended                                                    Change from

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

                             2009         2009          2009         2008        2008         2009            2008

     Consumer
     real estate

      First
      mortgage               $ 15,694     $ 11,795      $ 10,477     $ 10,198    $ 8,841      $ 3,899         $ 6,853
      lien

      Junior                   14,201       11,201        11,849       10,664      9,469        3,000           4,732
      lien

       Total
       consumer                29,895       22,996        22,326       20,862      18,310       6,899           11,585
       real
       estate

     Consumer                  2,587        1,661         1,290        3,303       3,282        926             (695    )
     other

      Total
      consumer
      real                     32,482       24,657        23,616       24,165      21,592       7,825           10,890
      estate and
      other

     Commercial                6,758        19,531        3,640        2,958       2,694        (12,773 )       4,064
     real estate

     Commercial                4,514        (55     )     2,981        2,631       65           4,569           4,449
     business

     Leasing and
     equipment                 9,409        5,529         4,701        3,832       2,413        3,880           6,996
     finance

     Inventory                 94           -             -            -           -            94              94
     finance

      Total                  $ 53,257     $ 49,662      $ 34,938     $ 33,586    $ 26,764     $ 3,595         $ 26,493

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

                             Quarter Ended(1)                                                 Change from

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

                             2009         2009          2009         2008        2008         2009            2008

     Consumer
     real estate

      First
      mortgage                 1.27    %    .96       %   .86     %    .84     %   .73     %    31        bps   54        bps
      lien

      Junior                   2.44         1.90          1.98         1.76        1.56         54              88
      lien

       Total
       consumer                1.65         1.26          1.22         1.14        1.00         39              65
       real
       estate

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

      Total
      consumer
      real                     1.78         1.35          1.29         1.32        1.17         43              61
      estate and
      other

     Commercial                .85          2.51          .49          .41         .39          (166    )       46
     real estate

     Commercial                3.78         (.05    )     2.39         2.01        .05          383             373
     business

     Leasing and
     equipment                 1.34         .79           .71          .64         .42          55              92
     finance

     Inventory                 .20          -             -            -           -            20              20
     finance

      Total                    1.52         1.43          1.04         1.02        .82          9               70

Troubled debt                At           At            At           At          At           Change from
restructurings

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

                             2009         2009          2009         2008        2008         2009            2008

     Consumer -              $ 159,881    $ 51,483      $ 24,877     $ 27,423    $ 23,844     $ 108,398       $ 136,037
     accruing

Potential
Problem Loans                At           At            At           At          At           Change from
and Leases(2)
(3)

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

                             2009         2009          2009         2008        2008         2009            2008

     Commercial              $ 222,437    $ 143,644     $ 176,277    $ 137,332   $ 100,028    $ 78,793        $ 122,409
     real estate

     Commercial                71,809       41,847        35,826       27,127      30,619       29,962          41,190
     business

     Leasing and
     equipment                 35,185       27,970        27,898       20,994      17,950       7,215           17,235
     finance

     Inventory                 -            -             -            -           -            -               -
     finance

      Total                  $ 329,431    $ 213,461     $ 240,001    $ 185,453   $ 148,597    $ 115,970       $ 180,834

(1 ) Annualized

(2 ) Excludes non-accrual loans and leases.

     Consists of loans and leases primarily classified for regulatory purposes as substandard and reflect the distinct
(3 ) 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.

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

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

                      2009        2009        2009        2008        2008        2009           2008

     Non-accrual
     loans and
     leases(1):

      Consumer real
      estate

       First          $ 104,646   $ 83,766    $ 82,082    $ 71,078    $ 52,633    $ 20,880       $ 52,013
       mortgage lien

       Junior lien      13,964      11,209      11,373      11,793      12,433      2,755          1,531

        Total
        consumer        118,610     94,975      93,455      82,871      65,066      23,635         53,544
        real estate

      Consumer other    120         147         146         65          78          (27    )       42

       Total
       consumer real    118,730     95,122      93,601      82,936      65,144      23,608         53,586
       estate and
       other

      Commercial        93,419      87,252      67,264      54,615      46,011      6,167          47,408
      real estate

      Commercial        9,836       11,532      11,857      14,088      16,356      (1,696 )       (6,520  )
      business

      Leasing and
      equipment         46,806      46,011      33,190      20,879      18,379      795            28,427
      finance

      Inventory         43          -           4           -           -           43             43
      finance

       Total
       non-accrual      268,834     239,917     205,916     172,518     145,890     28,917         122,944
       loans and
       leases

     Other real
     estate owned:

      Consumer real     73,397      72,745      45,633      38,632      34,101      652            39,296
      estate

      Commercial        20,770      24,117      25,115      23,033      20,078      (3,347 )       692
      real estate

       Total other
       real estate      94,167      96,862      70,748      61,665      54,179      (2,695 )       39,988
       owned

      Total
      non-performing  $ 363,001   $ 336,779   $ 276,664   $ 234,183   $ 200,069   $ 26,222       $ 162,932
      assets

     Non-performing
     assets as a
     percentage of      2.57    %   2.45    %   2.03    %   1.78    %   1.55    %   12       bps   102       bps
     net loans and
     leases

Delinquency data -
principal balances    At          At          At          At          At          Change from
(2)

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

                      2009        2009        2009        2008        2008        2009           2008

     60 days or
     more:

     Consumer real
     estate

      First mortgage  $ 78,281    $ 65,022    $ 57,121    $ 53,482    $ 45,871    $ 13,259       $ 32,410
      lien

      Junior lien       16,880      13,403      10,141      13,940      10,238      3,477          6,642

       Total
       consumer real    95,161      78,425      67,262      67,422      56,109      16,736         39,052
       estate

     Consumer other     250         207         187         313         227         43             23

      Total consumer
      real estate       95,411      78,632      67,449      67,735      56,336      16,779         39,075
      and other

     Commercial real    1,089       2,150       -           225         5,085       (1,061 )       (3,996  )
     estate

     Commercial         12          129         9           605         264         (117   )       (252    )
     business

     Leasing and
     equipment          13,664      16,414      12,173      10,905      8,242       (2,750 )       5,422
     finance

     Inventory          69          -           135         -           -           69             69
     finance

      Subtotal(2)       110,245     97,325      79,766      79,470      69,927      12,920         40,318

     Acquired           11,585      1,657       2,504       -           -           9,928          11,585
     portfolios

      Total           $ 121,830   $ 98,982    $ 82,270    $ 79,470    $ 69,927    $ 22,848       $ 51,903
      delinquencies

      Excluding
      acquired        $ 110,245   $ 97,325    $ 79,766    $ 79,470    $ 69,927    $ 12,920       $ 40,318
      portfolios(3)

Delinquency data - %  At          At          At          At          At          Change from
of portfolio(2)

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

                      2009        2009        2009        2008        2008        2009           2008

     60 days or
     more:

     Consumer real
     estate

      First mortgage    1.62    %   1.34    %   1.18    %   1.11    %   .95     %   28       bps   67        bps
      lien

      Junior lien       .73         .58         .43         .58         .42         15             31

       Total
       consumer real    1.33        1.09        .93         .93         .78         24             55
       estate

     Consumer other     .44         .34         .34         .51         .32         10             12

      Total consumer
      real estate       1.32        1.09        .93         .93         .77         23             55
      and other

     Commercial real    .03         .07         -           .01         .18         (4     )       (15     )
     estate

     Commercial         -           .03         -           .12         .05         (3     )       (5      )
     business

     Leasing and
     equipment          .53         .65         .49         .44         .36         (12    )       17
     finance

     Inventory          .03         -           .13         -           -           3              3
     finance

      Subtotal(2)       .81         .72         .60         .60         .54         9              27

     Acquired           2.62        .69         .97         -           -           193            262
     portfolios

      Total             .87         .72         .60         .60         .54         15             33
      delinquencies

      Excluding
      acquired          .81         .72         .60         .60         .54         9              27
      portfolios(3)

(1 ) The accrual status for acquired loans and leases is based on the expected cash flows determined at
     acquisition.

(2 ) Excludes non-accrual loans and leases.

     Excludes delinquencies and non-accrual loans in acquired portfolios as delinquency and non-accrual
(3 ) migration in these portfolios is not expected to result in financial statement losses exceeding the credit
     reserves netted against the loan balances.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

                       Three Months Ended September 30,

                       2009                             2008

                       Average                  Yields  Average                  Yields
                                                and                              and

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

ASSETS

  Investments and      $ 389,583     $ 1,216    1.24 %  $ 157,612     $ 1,644    4.16 %
  other

  U.S. Government
  sponsored entities:

   Mortgage-backed       1,432,670     17,185   4.80      2,157,047     28,542   5.29
   securities

   Debentures            600,098       3,283    2.19      -             -        -

  Other securities       489           6        4.91      3,840         35       3.64

   Total securities      2,033,257     20,474   4.03      2,160,887     28,577   5.29
   available for sale

  Education loans        -             -        -         12,516        123      3.91
  held for sale

  Loans and leases:

   Consumer real
   estate

    Fixed-rate           5,394,711     86,440   6.36      5,550,124     93,490   6.70

    Variable-rate        1,873,913     27,026   5.72      1,758,458     27,375   6.19

   Consumer - other      35,016        755      8.55      45,939        963      8.34

     Total consumer
     real estate and     7,303,640     114,221  6.21      7,354,521     121,828  6.59
     other

   Commercial real
   estate

    Fixed- and           2,645,261     40,233   6.03      2,181,838     33,598   6.11
    adjustable-rate

    Variable-rate        548,425       5,744    4.16      594,992       7,440    4.97

     Total commercial    3,193,686     45,977   5.71      2,776,830     41,038   5.88
     real estate

   Commercial
   business

    Fixed- and           166,008       2,378    5.68      167,079       2,363    5.63
    adjustable-rate

    Variable-rate        311,033       2,879    3.67      377,747       4,363    4.59

     Total commercial    477,041       5,257    4.37      544,826       6,726    4.91
     business

   Leasing and           2,811,165     47,625   6.78      2,300,429     41,059   7.14
   equipment finance

   Inventory finance     185,914       4,228    9.10      -             -        -

    Total loans and      13,971,446    217,308  6.18      12,976,606    210,651  6.47
    leases

     Total
     interest-earning    16,394,286    238,998  5.80      15,307,621    240,995  6.27
     assets

  Other assets           1,132,239                        1,103,938

   Total assets        $ 17,526,525                     $ 16,411,559

LIABILITIES AND
STOCKHOLDERS' EQUITY

  Non-interest
  bearing deposits:

   Retail              $ 1,380,591                      $ 1,409,855

   Small business        591,451                          597,894

   Commercial and        277,135                          253,900
   custodial

    Total
    non-interest         2,249,177                        2,261,649
    bearing deposits

  Interest-bearing
  deposits:

   Checking              1,800,583     1,770    .39       1,837,540     2,478    .54

   Savings               5,071,509     13,663   1.07      2,791,559     10,157   1.45

   Money market          723,098       1,638    .90       629,905       2,310    1.46

    Subtotal             7,595,190     17,071   .89       5,259,004     14,945   1.13

   Certificates of       1,757,884     10,442   2.36      2,469,327     18,785   3.02
   deposit

    Total
    interest-bearing     9,353,074     27,513   1.17      7,728,331     33,730   1.74
    deposits

     Total deposits      11,602,251    27,513   .94       9,989,980     33,730   1.34

  Borrowings:

   Short-term            25,267        14       .22       429,861       2,301    2.13
   borrowings

   Long-term             4,306,009     49,982   4.61      4,567,706     52,799   4.60
   borrowings

     Total borrowings    4,331,276     49,996   4.58      4,997,567     55,100   4.39

   Total deposits and    15,933,527    77,509   1.93      14,987,547    88,830   2.36
   borrowings

  Other liabilities      435,215                          339,304

   Total liabilities     16,368,742                       15,326,851

  Stockholders'          1,157,783                        1,084,708
  equity

   Total liabilities
   and stockholders'   $ 17,526,525                     $ 16,411,559
   equity

Net interest income                  $ 161,489  3.92 %                $ 152,165  3.97 %
and margin

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

                        Nine Months Ended September 30,

                        2009                               2008

                        Average                  Yields    Average                  Yields
                                                 and                                and

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

ASSETS

  Investments and other $ 442,428     $ 3,210    .97    %  $ 152,232     $ 4,713    4.13   %

  U.S. Government
  sponsored entities:

   Mortgage-backed        1,695,377     63,195   4.97        2,146,185     85,299   5.30
   securities

   Debentures             381,022       6,177    2.16

  Other securities        497           20       5.37        15,938        415      3.48

   Total securities       2,076,896     69,392   4.45        2,162,123     85,714   5.29
   available for sale

  Education loans held    -             -        -           116,754       5,331    6.10
  for sale

  Loans and leases:

   Consumer real estate

    Fixed-rate            5,441,462     263,858  6.48        5,544,173     280,546  6.76

    Variable-rate         1,844,578     79,807   5.78        1,688,362     82,071   6.49

   Consumer - other       36,921        2,357    8.53        45,481        2,937    8.63

       Total consumer
       real estate and    7,322,961     346,022  6.32        7,278,016     365,554  6.71
       other

   Commercial real
   estate

    Fixed- and            2,529,735     114,404  6.05        2,073,784     96,710   6.23
    adjustable-rate

    Variable-rate         571,724       17,093   4.00        593,164       23,654   5.33

       Total commercial   3,101,459     131,497  5.67        2,666,948     120,364  6.03
       real estate

   Commercial business

    Fixed- and            171,450       7,392    5.76        167,502       7,551    6.02
    adjustable-rate

    Variable-rate         315,230       7,798    3.31        371,846       14,229   5.11

       Total commercial   486,680       15,190   4.17        539,348       21,780   5.39
       business

   Leasing and            2,751,935     142,063  6.88        2,223,811     123,137  7.38
   equipment finance

   Inventory finance      111,479       7,312    8.75        -             -        -

    Total loans and       13,774,514    642,084  6.23        12,708,123    630,835  6.63
    leases

       Total
       interest-earning   16,293,838    714,686  5.86        15,139,232    726,593  6.41
       assets

  Other assets            1,144,931                          1,167,973

   Total assets         $ 17,438,769                       $ 16,307,205

LIABILITIES AND
STOCKHOLDERS' EQUITY

  Non-interest bearing
  deposits:

   Retail               $ 1,418,244                        $ 1,429,752

   Small business         575,558                            580,248

   Commercial and         255,066                            231,184
   custodial

    Total non-interest    2,248,868                          2,241,184
    bearing deposits

  Interest-bearing
  deposits:

   Checking               1,780,380     6,407    .48         1,855,963     9,998    .72

   Savings                4,569,882     46,072   1.35        2,800,120     35,599   1.70

   Money Market           686,830       5,718    1.11        609,629       7,474    1.64

    Subtotal              7,037,092     58,197   1.11        5,265,712     53,071   1.35

   Certificates of        2,100,342     42,745   2.72        2,480,262     66,341   3.57
   deposit

    Total
    interest-bearing      9,137,434     100,942  1.48        7,745,974     119,412  2.06
    deposits

       Total deposits     11,386,302    100,942  1.19        9,987,158     119,412  1.60

  Borrowings:

   Short-term             32,739        132      .54         397,514       7,888    2.65
   borrowings

   Long-term borrowings   4,326,634     150,247  4.64        4,467,752     152,737  4.57

       Total borrowings   4,359,373     150,379  4.61        4,865,266     160,625  4.41

   Total deposits and     15,745,675    251,321  2.13        14,852,424    280,037  2.52
   borrowings

  Other liabilities       406,271                            356,031

   Total liabilities      16,151,946                         15,208,455

  Stockholders' equity    1,286,823                          1,098,750

   Total liabilities
   and

    stockholders'       $ 17,438,769                       $ 16,307,205
    equity

Net interest income and               $ 463,365  3.80   %                $ 446,556  3.94   %
margin

(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,

                     2009          2009        2009        2008        2008

Interest income:

 Loans and leases  $ 217,307     $ 215,400   $ 209,377   $ 211,322   $ 210,651

 Securities
 available for       20,474        23,217      25,701      25,232      28,577
 sale

 Education loans     -             -           -           24          123
 held for sale

 Investments and     1,217         1,137       856         1,224       1,644
 other

  Total interest     238,998       239,754     235,934     237,802     240,995
  income

Interest expense:

 Deposits            27,512        33,345      40,084      37,362      33,730

 Borrowings          49,997        49,946      50,437      53,323      55,100

  Total interest     77,509        83,291      90,521      90,685      88,830
  expense

   Net interest      161,489       156,463     145,413     147,117     152,165
   income

Provision for        75,544        61,891      43,712      47,050      52,105
credit losses

  Net interest
  income after       85,945        94,572      101,701     100,067     100,060
  provision for
  credit losses

Non-interest
income:

 Fees and service    77,433        77,536      57,064      67,448      71,783
 charges

 Card revenue        26,393        26,604      24,960      25,243      26,240

 ATM revenue         7,861         7,973       7,598       7,688       8,720

  Subtotal           111,687       112,113     89,622      100,379     106,743

 Leasing and
 equipment           15,173        16,881      12,651      16,298      13,006
 finance

 Other               1,197         820         458         130         3,296

  Fees and other     128,057       129,814     102,731     116,807     123,045
  revenue

 Gains on            -             10,556      11,548      8,167       498
 securities

   Total
   non-interest      128,057       140,370     114,279     124,974     123,543
   income

Non-interest
expense:

 Compensation and
 employee            90,680        90,752      86,190      83,323      84,895
 benefits

 Occupancy and       31,619        31,527      32,047      32,503      31,832
 equipment

 Deposit account     7,472         7,287       6,576       5,659       7,292
 premiums

 Advertising and     4,766         4,134       4,445       4,643       5,017
 promotions

 FDIC premiums       5,085         13,303      3,795       1,706       426
 and assessments

 Foreclosed real
 estate and          8,038         6,125       4,291       6,341       4,883
 repossessed
 assets

 Operating lease     3,734         3,860       4,024       4,269       4,215
 depreciation

 Other               38,873        39,558      32,840      41,366      39,028

  Total
  non-interest       190,267       196,546     174,208     179,810     177,588
  expense

   Pretax income     23,735        38,396      41,772      45,231      46,015

Income tax           6,491         14,853      15,125      17,527      15,889
expense

   Income after
   income tax        17,244        23,543      26,647      27,704      30,126
   expense

Income (loss)
attributable to      (207    )     -           -           -           -
non-controlling
interest

   Net income        17,451        23,543      26,647      27,704      30,126

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

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

   Net income
   available to    $ 17,451      $ 10,325    $ 21,462    $ 25,164    $ 30,126
   common
   stockholders

Net income per
common share:

 Basic             $ .14         $ .08       $ .17       $ .20       $ .24

 Diluted             .14           .08         .17         .20         .24

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

Financial Ratios:

Return on average    .39       %   .53     %   .62     %   .68     %   .73     %
assets(1)

Return on average    6.03          3.61        7.58        9.00        11.11
common equity(1)

Net interest         3.92          3.80        3.66        3.84        3.97
margin(1)

Average common
equity to average    6.61          6.48        6.61        6.81        6.61
assets

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS

(In thousands)

(Unaudited)

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

                        2009            2009            2009            2008            2008

ASSETS

Cash and due from     $ 499,696       $ 564,853       $ 609,168       $ 297,252       $ 288,884
banks

Investments             157,590         166,824         165,243         166,580         157,612

U.S. Government
sponsored entities:

 Mortgage-backed        1,432,670       1,656,767       2,002,962       1,963,608       2,157,047
 securities

 Debentures             600,098         527,562         8,908           -               -

Other securities        489             498             506             2,953           3,840

 Total securities       2,033,257       2,184,827       2,012,376       1,966,561       2,160,887
 available for sale

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

Loans and leases:

 Consumer real
 estate

  Fixed-rate            5,394,711       5,453,117       5,477,467       5,496,533       5,550,124

  Variable-rate         1,873,913       1,840,983       1,818,232       1,793,650       1,758,458

 Consumer - other       35,016          36,255          39,539          43,619          45,939

   Total consumer
   real estate and      7,303,640       7,330,355       7,335,238       7,333,802       7,354,521
   other

 Commercial real
 estate

  Fixed- and            2,645,261       2,531,026       2,410,335       2,287,226       2,181,838
  adjustable-rate

  Variable-rate         548,425         579,004         588,181         608,709         594,992

   Total commercial     3,193,686       3,110,030       2,998,516       2,895,935       2,776,830
   real estate

 Commercial business

  Fixed- and            166,008         173,000         175,445         171,687         167,079
  adjustable-rate

  Variable-rate         311,033         310,493         324,311         350,949         377,747

   Total commercial     477,041         483,493         499,756         522,636         544,826
   business

 Leasing and            2,811,165       2,809,787       2,632,893       2,389,225       2,300,429
 equipment finance

 Inventory finance      185,914         118,317         28,475          158             -

  Total loans and       13,971,446      13,851,982      13,494,878      13,141,756      12,976,606
  leases

 Allowance for loan     (200,684   )    (181,895   )    (174,364   )    (160,662   )    (140,362   )
 and lease losses

  Net loans and         13,770,762      13,670,087      13,320,514      12,981,094      12,836,244
  leases

Premises and            449,625         449,622         450,128         447,249         443,185
equipment

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

Other assets            462,996         447,105         439,692         394,024         359,632

                      $ 17,526,525    $ 17,635,917    $ 17,149,720    $ 16,407,235    $ 16,411,559

LIABILITIES AND
STOCKHOLDERS' EQUITY

Non-interest-bearing
deposits:

 Retail               $ 1,380,591     $ 1,446,215     $ 1,428,453     $ 1,345,832     $ 1,409,855

 Small business         591,451         571,676         563,236         593,626         597,894

 Commercial and         277,135         260,079         227,470         234,045         253,900
 custodial

  Total non-interest    2,249,177       2,277,970       2,219,159       2,173,503       2,261,649
  bearing deposits

Interest-bearing
deposits:

 Checking               1,800,583       1,792,493       1,747,480       1,754,111       1,837,540

 Savings                5,071,509       4,823,897       3,800,275       2,847,838       2,791,559

 Money Market           723,098         690,201         646,347         625,198         629,905

  Subtotal              7,595,190       7,306,591       6,194,102       5,227,147       5,259,004

 Certificates of        1,757,884       2,087,490       2,463,405       2,448,815       2,469,327
 deposit

  Total
  interest-bearing      9,353,074       9,394,081       8,657,507       7,675,962       7,728,331
  deposits

   Total deposits       11,602,251      11,672,051      10,876,666      9,849,465       9,989,980

Borrowings:

 Short-term             25,267          29,027          44,131          454,202         429,861
 borrowings

 Long-term              4,306,009       4,307,777       4,366,782       4,435,730       4,567,706
 borrowings

  Total borrowings      4,331,276       4,336,804       4,410,913       4,889,932       4,997,567

Accrued expenses and    435,215         403,561         380,202         366,063         339,304
other liabilities

  Total liabilities     16,368,742      16,412,416      15,667,781      15,105,460      15,326,851

Stockholders'
equity:

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

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

 Additional paid-in     305,199         301,937         319,872         328,078         336,127
 capital

 Retained earnings      926,137         922,856         914,972         924,456         927,939

 Accumulated other      (7,490     )    (5,097     )    (5,745     )    (13,896    )    (36,468    )
 comprehensive loss

 Treasury stock at      (67,641    )    (78,039    )    (97,192    )    (122,153   )    (144,199   )
 cost and other

  Total stockholders    1,157,509       1,223,501       1,481,939       1,301,775       1,084,708
  equity

 Non-controlling
 interest in            274             -               -               -               -
 subsidiaries

  Total equity          1,157,783       1,223,501       1,481,939       1,301,775       1,084,708

  Total liabilities
  and stockholders'   $ 17,526,525    $ 17,635,917    $ 17,149,720    $ 16,407,235    $ 16,411,559
  equity



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES(1)

(Unaudited)

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

                          2009       2009       2009       2008       2008

ASSETS

  Investments and other   1.24     % 1.00     % .71      % 2.93     % 4.16     %

  U.S. Government
  sponsored entities:

   Mortgage-backed        4.80       4.91       5.12       5.13       5.29
   securities

   Debentures             2.19       2.17       1.57       -          -

  Other securities        4.91       5.63       5.58       3.93       3.64

   Total securities       4.03       4.25       5.11       5.13       5.29
   available for sale

  Education loans held    -          -          -          5.09       3.91
  for sale

  Loans and leases:

   Consumer real estate

    Fixed-rate            6.36       6.52       6.57       6.63       6.70

    Variable-rate         5.72       5.79       5.85       6.00       6.19

   Consumer - other       8.55       8.64       8.43       8.57       8.34

       Total consumer
       real estate and    6.21       6.34       6.40       6.48       6.59
       other

   Commercial real estate

    Fixed- and            6.03       6.00       6.11       6.14       6.11
    adjustable-rate

    Variable-rate         4.16       3.95       3.89       4.87       4.97

       Total commercial   5.71       5.62       5.67       5.87       5.88
       real estate

   Commercial business

    Fixed- and            5.68       5.71       5.89       5.65       5.63
    adjustable-rate

    Variable-rate         3.67       3.27       2.98       4.44       4.59

       Total commercial   4.37       4.15       4.01       4.83       4.91
       business

   Leasing and equipment  6.78       6.89       7.00       7.15       7.14
   finance

   Inventory finance      9.10       8.35       8.64       10.13      -

    Total loans and       6.18       6.23       6.27       6.41       6.47
    leases

       Total
       interest-earning   5.80       5.83       5.96       6.20       6.27
       assets

LIABILITIES

  Interest-bearing
  deposits:

   Checking               .39        .44        .62        .67        .54

   Savings                1.07       1.29       1.81       1.82       1.45

   Money market           .90        1.03       1.45       1.67       1.46

    Subtotal              .89        1.05       1.44       1.41       1.13

   Certificates of        2.36       2.72       2.98       3.05       3.02
   deposit

    Total
    interest-bearing      1.17       1.42       1.88       1.94       1.74
    deposits

       Total deposits     .94        1.15       1.49       1.51       1.34

  Borrowings:

   Short-term borrowings  .22        .33        .86        .97        2.13

   Long-term borrowings   4.61       4.65       4.67       4.69       4.60

    Total borrowings      4.58       4.62       4.63       4.34       4.39

       Total
       interest-bearing   2.25       2.43       2.81       2.87       2.77
       liabilities

Net interest margin       3.92     % 3.80     % 3.66     % 3.84     % 3.97     %

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES

(Dollars in thousands)

(Unaudited)

                                                   At Sept. 30,   At Dec. 31,

                                                     2009           2008

Computation of total equity to total assets:

Total equity                                       $ 1,179,839    $ 1,493,776

Total assets                                       $ 17,743,009   $ 16,740,357

Total equity to total assets                         6.65       %   8.92       %

Computation of tangible realized common equity to
tangible assets:

Total Equity                                       $ 1,179,839    $ 1,493,776

Less: Non-controlling interest in subsidiaries       3,604          -

Total TCF stockholders' equity                       1,176,235      1,493,776

Less:

Preferred stock                                      -              348,437

Goodwill                                             152,599        152,599

Customer based intangibles                           1,450          -

Accumulated other comprehensive income               805            -

Add:

Accumulated other comprehensive loss                 -              3,692

Tangible realized common equity                    $ 1,021,381    $ 996,432

Total assets                                       $ 17,743,009   $ 16,740,357

Less:

Goodwill                                             152,599        152,599

Customer based intangibles                           1,450          -

Tangible assets                                    $ 17,588,960   $ 16,587,758

Tangible realized common equity to tangible          5.81       %   6.01       %
assets

(1) In contrast to GAAP-basis measures, tangible realized common equity excludes
the effect of preferred stock, goodwill, customer based intangibles 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 in the industry. The methodology for calculating
tangible realized common equity may vary between companies.



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

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