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Press Release

TCF Reports 59th Consecutive Quarter of Net Income - Earns $19.5 Million

Company Release - 1/21/2010 8:02 AM ET

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

FOURTH QUARTER HIGHLIGHTS

    --  Diluted earnings per common share of 15 cents
    --  Net income of $19.5 million
    --  Total revenue increased by $40.7 million, or 15 percent
    --  Net interest margin of 4.07 percent
    --  Average loans and leases increased by $1.3 billion, or 9.7 percent
    --  Average deposits increased by $1.5 billion, or 15.6 percent
    --  Restructured $240.1 million of consumer real estate loans in 2009
        helping customers to stay in their homes
    --  Announced quarterly cash dividend of five cents per common share,
        payable February 26, 2010

Earnings Summary       Table 1

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

            4Q         3Q         4Q         4Q09   4Q09 vs  YTD        YTD         Percent
            2009       2009       2008       vs     4Q08     2009       2008        Change
                                             3Q09

Net income  $ 19,456   $ 17,451   $ 27,704   11.5 % (29.8 )% $ 87,097   $ 128,958   (32.5 )%

Diluted
earnings      .15        .14        .20      7.1    (25.0 )    .54        1.01      (46.5 )
per common
share

Financial
Ratios (1)

Return on
average       .43    %   .39    %   .68    %                   .49    %   .79     %
assets

Return on
average       6.57       6.03       9.00                       8.57       11.46
common
equity (2)

Net
interest      4.07       3.92       3.84                       3.87       3.91
margin

Net
charge-offs
as a
percentage    1.35       1.52       1.02                       1.34       .78
of average
loans and
leases

(1) Annualized

(2) Year-to-date 2009 excludes a non-cash deemed preferred stock dividend of $12,025
recorded in the second quarter of 2009. Including this amount, the year-to-date return on
average common equity was 5.95% for 2009.



TCF Financial Corporation ("TCF") (NYSE:TCB) today reported diluted earnings per common share of 15 cents for the fourth quarter of 2009, compared with 14 cents in the third quarter of 2009 and 20 cents in the fourth quarter of 2008. Net income for the fourth quarter of 2009 was $19.5 million, compared with $17.5 million in the third quarter of 2009 and $27.7 million in the fourth quarter of 2008.

Diluted earnings per common share was 54 cents for 2009, compared with $1.01 for 2008. Net income was $87.1 million for 2009, compared with $129 million for 2008. Diluted earnings per common share and net income for 2009, excluding the non-cash deemed preferred stock dividend in the second quarter of 2009, was 64 cents and $99.1 million, respectively.

TCF declared a quarterly cash dividend of five cents per common share payable on February 26, 2010 to stockholders of record at the close of business on January 29, 2010.

Chairman's Statement

"TCF is reporting its 59th consecutive profitable quarter and has announced its 87th consecutive dividend payment," said William A. Cooper, TCF Chairman and CEO. "While credit issues remain at elevated levels, TCF has remained profitable throughout this economic crisis and our credit metrics have outperformed most of our peers. An improving economy and stabilizing home values may signal improvements in the credit cycle in the coming quarters. TCF's conservative business model has proven its sustainability throughout the recent economic recession. I remain optimistic about the future of TCF going into this new decade."

Total                                                Table 2
Revenue

                                                     Percent Change

($ in         4Q           3Q           4Q           4Q09 vs  4Q09 vs  YTD            YTD            Percent
thousands)    2009         2009         2008         3Q09     4Q08     2009           2008           Change

Net interest  $ 169,641    $ 161,489    $ 147,117    5.0   %  15.3  %  $ 633,006      $ 593,673      6.6   %
income

Fees and
other
revenue:

Fees and
service         74,875       77,433       67,448     (3.3  )  11.0       286,908        270,739      6.0
charges

Card revenue    26,813       26,393       25,243     1.6      6.2        104,770        103,082      1.6

ATM revenue     7,006        7,861        7,688      (10.9 )  (8.9  )    30,438         32,645       (6.8  )

Total           108,694      111,687      100,379    (2.7  )  8.3        422,116        406,466      3.9
banking fees

Leasing and
equipment       24,408       15,173       16,298     60.9     49.8       69,113         55,488       24.6

finance

Other           2,764        1,197        130        130.9    N.M.       5,239          12,107       (56.7 )

Total fees
and other       135,866      128,057      116,807    6.1      16.3       496,468        474,061      4.7
revenue

Gains on
securities,     7,283        -            8,167      N.M.     (10.8 )    29,387         16,066       82.9
net

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

Total
non-interest    143,149      128,057      124,974    11.8     14.5       525,855        498,435      5.5
income

Total         $ 312,790    $ 289,546    $ 272,091    8.0      15.0     $ 1,158,861    $ 1,092,108    6.1
revenue

Net interest    4.07    %    3.92    %    3.84    %                      3.87      %    3.91      %
margin(1)

Fees and
other
revenue as a    43.44        44.23        42.93                          42.84          43.41
% of total
revenue

N.M. = Not meaningful

(1) Annualized



Net Interest Income

    --  Net interest income for the fourth quarter of 2009 was $169.6 million,
        up $22.5 million, or 15.3 percent, compared with the fourth quarter of
        2008 and up $8.2 million, or 5 percent, compared with the third quarter
        of 2009. Net interest margin in the fourth quarter of 2009 was 4.07
        percent, compared with 3.84 percent in the fourth quarter of 2008 and
        3.92 percent in the third quarter of 2009. The increase in net interest
        margin in the fourth quarter of 2009 from the third quarter of 2009 was
        primarily due to lower average deposit rates and decreased amounts
        placed in low rate deposits at the Federal Reserve, partially offset by
        the negative impact of increased non-accrual loans and leases and loan
        restructurings. The increase in net interest margin in the fourth
        quarter of 2009 from the fourth quarter of 2008 was primarily due to
        decreased rates paid on deposits and earning asset growth, partially
        offset by an increased negative effect of non-accrual loans and leases
        and loan restructurings.
    --  Net interest income in 2009 was $633 million, up $39.3 million, or 6.6
        percent, from 2008. Net interest margin in 2009 was 3.87 percent,
        compared with 3.91 percent for 2008. The increase in net interest income
        from 2008 was primarily attributable to a $1.2 billion, or 7.9 percent,
        increase in average interest-earning assets, partially offset by a 4
        basis point reduction in net interest margin. The decrease in net
        interest margin from 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
        restructurings and investments in lower yielding securities, partially
        offset by declines in rates paid on average deposits and an improvement
        in deposit mix.

Non-interest Income

    --  Banking fees and service charges in the fourth quarter of 2009 were
        $108.7 million, up $8.3 million, or 8.3 percent, from the fourth quarter
        of 2008 and down $3 million, or 2.7 percent, from the third quarter of
        2009. Banking fees and service charges in 2009 were $422.1 million, up
        $15.7 million, or 3.9 percent, from 2008. The decrease from the third
        quarter of 2009 was primarily due to seasonal lower activity in deposit
        service fees. The increase from 2008 was primarily due to an increased
        number of checking accounts and related fee income.
    --  Card revenues in the fourth quarter of 2009 were $26.8 million, up $1.6
        million, or 6.2 percent, from the fourth quarter of 2008 and up $420
        thousand, or 1.6 percent, from the third quarter of 2009. Card revenues
        in 2009 totaled $104.8 million, up $1.7 million, or 1.6 percent, from
        2008. The increases in all periods were the result of growth in active
        accounts and increases in customer transactions in 2009 partially offset
        by lower average transaction amounts.
    --  Leasing and equipment finance revenues in the fourth quarter of 2009
        were $24.4 million, up $8.1 million, or 49.8 percent, from the fourth
        quarter of 2008 and up $9.2 million, or 60.9 percent, from the third
        quarter of 2009. Leasing and equipment finance revenues in 2009 were
        $69.1 million, up $13.6 million, or 24.6 percent, from 2008. The
        increase in leasing and equipment finance revenues was primarily due to
        higher sales-type lease revenue and increased operating lease revenue as
        a result of the Fidelity National Capital, Inc. acquisition by Winthrop
        Resources Corporation at the end of the third quarter of 2009. The
        acquisition also contributed $6.5 million to the increases in operating
        lease depreciation in the fourth quarter and full year of 2009.
    --  Other non-interest income in the fourth quarter of 2009 was $2.8
        million, up $2.6 million from the fourth quarter of 2008 and up $1.6
        million from the third quarter of 2009. Other non-interest income in
        2009 was $5.2 million, down $6.9 million, or 56.7 percent, from 2008.
        The decrease in other non-interest income in 2009 from 2008 was
        primarily due to TCF no longer selling investment and insurance products
        in the branches, partially offset by servicing fees generated in the
        inventory finance business.

Loans and Leases

Average Loans and Leases                           Table 3

                                                   Percent Change

($ in       4Q           3Q           4Q           4Q09 vs  4Q09 vs  YTD           YTD           Percent
thousands)  2009         2009         2008         3Q09     4Q08     2009          2008          Change

Loans and
leases:

Consumer
real
estate

First
mortgage    $ 4,954,306  $ 4,939,529  $ 4,866,310  .3    %  1.8   %  $ 4,932,315   $ 4,835,524   2.0   %
lien

Junior      2,321,045    2,329,096    2,423,873    (.3   )  (4.2  )    2,351,033     2,411,502   (2.5  )
lien

Total       7,275,351    7,268,625    7,290,183    .1       (.2   )    7,283,348     7,247,026   .5

Consumer    32,676       35,015       45,495       (6.7  )  (28.2 )    35,849        132,890     (73.0 )
other

Total       7,308,027    7,303,640    7,335,678    .1       (.4   )    7,319,197     7,379,916   (.8   )
consumer

Commercial
real        3,241,269    3,193,686    2,895,935    1.5      11.9       3,136,699     2,724,507   15.1
estate

Commercial  443,013      477,041      522,636      (7.1  )  (15.2 )    475,674       535,147     (11.1 )
business

Total       3,684,282    3,670,727    3,418,571    .4       7.8        3,612,373     3,259,654   10.8
commercial

Leasing
and
            3,049,093    2,811,165    2,389,225    8.5      27.6       2,826,835     2,265,391   24.8
equipment
finance

Inventory   383,291      185,914      158          106.2    N.M.       179,990       40          N.M.
finance

Total       $14,424,693  $13,971,446  $13,143,632  3.2      9.7      $ 13,938,395  $ 12,905,001  8.0

N.M. = Not meaningful



    --  Average consumer real estate loan balances for the fourth quarter of
        2009 compared to the fourth quarter of 2008, and the third quarter of
        2009, as well as all of 2009 compared to all of 2008 were relatively
        flat reflecting less demand for home equity financing due in part to
        declines in home values and reductions in consumer spending in the weak
        economy.
    --  At December 31, 2009, 68.1 percent of the consumer real estate loan
        portfolio was secured by first liens. The average home value used to
        secure consumer real estate loans was $250 thousand at December 31,
        2009.
    --  Average commercial loan balances in the fourth quarter of 2009 increased
        $265.7 million, or 7.8 percent, from the fourth quarter of 2008 and were
        essentially flat from the third quarter of 2009. Average commercial loan
        balances in 2009 increased $352.7 million, or 10.8 percent, from 2008.
        Increases in average commercial loan balances in 2009 were the result of
        increased opportunities to attract high quality customers who have fewer
        competitive alternatives.
    --  Average leasing and equipment finance balances in the fourth quarter of
        2009 increased $659.9 million, or 27.6 percent, from the fourth quarter
        of 2008 and increased $237.9 million, or 8.5 percent, from the third
        quarter of 2009. Average leasing and equipment finance balances in 2009
        increased $561.4 million, or 24.8 percent, from 2008. Portfolio
        purchases and company acquisitions in the first and third quarters of
        2009 contributed $428.7 million of the increase in average balances in
        fourth quarter 2009 from the fourth quarter of 2008, $200.2 million of
        the increase from the third quarter of 2009 and $256.3 million of the
        increase in average balances in 2009 from 2008.
    --  Average inventory finance loans in the fourth quarter of 2009 increased
        $197.4 million, or 106.2 percent, from the third quarter of 2009. The
        increase was due primarily to purchases of inventory finance loans in
        the lawn and garden sector in the fourth quarter totaling $225.8
        million.

Securities Available for Sale

Average Securities Available for Sale                   Table 4

                                                        Yield                                   Yield

($ in            4Q           3Q           4Q           4Q09    4Q08    YTD          YTD        YTD     YTD
thousands)       2009         2009         2008                         2009         2008       2009    2008

U.S. Government
sponsored
entities:

Mortgage-backed  $ 1,497,672  $ 1,432,670  $ 1,963,608  4.73 %  5.13 %  $ 1,645,544  $          4.92 %  5.26 %
securities                                                                           2,100,291

Debentures         413,647      600,098      -          2.23    -         389,245    -          2.18    -

Other              68,415       489          2,953      .11     3.93      17,617     12,674     .22     3.50
securities

Total            $ 1,979,734  $ 2,033,257  $ 1,966,561  4.05    5.13    $ 2,052,406  $          4.36    5.25
                                                                                     2,112,965



    --  In December of 2009, TCF sold $600.1 million of Fannie Mae and Freddie
        Mac callable debentures with a weighted average yield of 2.19 percent
        and $86.4 million of Fannie Mae and Freddie Mac mortgage-backed
        securities with a weighted average yield of 5.36 percent and purchased
        $624.1 million of Fannie Mae and Freddie Mac mortgage-backed securities
        with a weighted average yield of 4.13 percent.

Deposits

Average Deposits                                  Table 5

                                                                 Percent Change

($ in thousands)  4Q              3Q              4Q             4Q09 vs   4Q09 vs  YTD             YTD            Percent
                  2009            2009            2008           3Q09      4Q08     2009            2008           Change

Non-interest
bearing
deposits:

Retail            $ 1,355,543     $ 1,380,591     $ 1,345,832    (1.8  )%  .7    %  $ 1,402,442     $ 1,408,657    (.4   )%

Small business      611,454         591,451         593,626      3.4       3.0        584,605         583,611      .2

Commercial          297,223         277,135         234,045      7.2       27.0       265,681         231,903      14.6

Subtotal            2,264,220       2,249,177       2,173,503    .7        4.2        2,252,728       2,224,171    1.3

Interest-bearing
deposits:

Checking            1,868,911       1,800,583       1,754,111    3.8       6.5        1,802,694       1,830,361    (1.5  )

Savings             5,214,318       5,071,509       2,847,838    2.8       83.1       4,732,316       2,812,115    68.3

Money market        671,755         723,098         625,198      (7.1  )   7.4        683,030         613,543      11.3

Subtotal            7,754,984       7,595,190       5,227,147    2.1       48.4       7,218,040       5,256,019    37.3

Certificates        1,366,871       1,757,884       2,448,815    (22.2 )   (44.2 )    1,915,467       2,472,357    (22.5 )

Subtotal            9,121,855       9,353,074       7,675,962    (2.5  )   18.8       9,133,507       7,728,376    18.2

Total deposits    $ 11,386,075    $ 11,602,251    $ 9,849,465    (1.9  )   15.6     $ 11,386,235    $ 9,952,547    14.4

Average interest    .74        %    .94        %    1.51      %                       1.07       %    1.58      %
rate on deposits



    --  Total average deposits in the fourth quarter of 2009 were $11.4 billion,
        up $1.5 billion, or 15.6 percent, from the fourth quarter of 2008 and
        down $216 million, or 1.9 percent, from the third quarter of 2009. Total
        average deposits in 2009 were $11.4 billion, up $1.4 billion, or 14.4
        percent, from 2008. The increase in average deposits in the fourth
        quarter of 2009 from the fourth quarter of 2008 and the increase for the
        full year of 2009 from 2008 were 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
        decreased from the third quarter of 2009 primarily due to management's
        strategy to decrease balances of higher cost certificates of deposits
        and money market deposits, partially offset by increases in savings and
        interest-bearing checking deposits.
    --  The average rate paid on deposits in the fourth quarter of 2009 was .74
        percent, down 77 basis points from the fourth quarter of 2008 and down
        20 basis points from the third quarter of 2009. The average rate paid on
        deposits in 2009 was 1.07 percent, down 51 basis points from 2008.
        Average rate paid on deposits declined due to reductions in interest
        rates paid on certain deposit products and mix changes as a result of
        management's strategy to reduce balances of certificates of deposit. The
        weighted average interest rate on total deposits was .65 percent at
        December 31, 2009.

Non-interest Expense

Non-interest Expense                           Table 6

                                               Percent Change

($ in         4Q         3Q         4Q         4Q09 vs   4Q09 vs  YTD        YTD        Percent
thousands)    2009       2009       2008       3Q09      4Q08     2009       2008       Change

Compensation
and employee  $ 89,374   $ 90,680   $ 83,323   (1.4  )%  7.3   %  $ 356,996  $ 341,203  4.6   %
benefits

Occupancy
and             31,099     31,619     32,503   (1.6  )   (4.3  )    126,292    127,953  (1.3  )
equipment

Deposit
account         9,347      7,472      5,659    25.1      65.2       30,682     16,888   81.7
premiums

Advertising
and             3,789      4,766      4,643    (20.5 )   (18.4 )    17,134     19,150   (10.5 )
marketing

FDIC
premiums and    5,288      5,085      1,706    4.0       N.M.       27,471     2,990    N.M.
assessments

Foreclosed
real estate
and             12,088     8,038      6,341    50.4      90.6       30,542     18,731   63.1

repossessed
assets

Other           45,028     38,873     41,366   15.8      8.9        156,299    150,030  4.2

Subtotal        196,013    186,533    175,541  5.1       11.7       745,416    676,945  10.1

Operating
lease           10,750     3,734      4,269    187.9     151.8      22,368     17,458   28.1
depreciation

Total
non-interest  $ 206,763  $ 190,267  $ 179,810  8.7       15.0     $ 767,784  $ 694,403  10.6
expense

N.M. = Not
meaningful



    --  The increased compensation and employee benefits costs in the fourth
        quarter of 2009 from the fourth quarter of 2008 and the increase for the
        full year of 2009 from 2008 were primarily due to increased employee
        medical plan expenses and increased costs in leasing and equipment
        finance and inventory finance as a result of expansion and growth,
        partially offset by headcount reductions in banking.
    --  The increased FDIC premiums and assessments in the fourth quarter of
        2009 from the fourth quarter of 2008 were primarily due to higher
        insurance rates and deposit growth. The increase in FDIC premiums and
        assessments in 2009 from 2008 was primarily due to higher insurance
        rates and deposit growth as well as a FDIC special assessment of $8.2
        million in June of 2009. On December 30, 2009, TCF was required to
        prepay $77.6 million of premiums to the FDIC. The expense related to
        this prepayment is anticipated to be recognized over the next three
        years based on actual calculations of quarterly premiums.
    --  Foreclosed real estate and repossessed asset expenses in the fourth
        quarter of 2009 increased $5.7 million, or 90.6 percent, from the fourth
        quarter of 2008 and increased $4.1 million, or 50.4 percent, from the
        third quarter of 2009. Foreclosed real estate and repossessed asset
        expenses increased $11.8 million in 2009, or 63.1 percent, from 2008.
        The increases from all 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.
    --  In the fourth quarter of 2009, management began a reorganization of its
        structure and business segments, incurring $3.4 million of severance
        costs, which are included in other non-interest expense.

Credit Quality

Credit Quality Summary                    Table 7

                                                       Percent Change

($ in           4Q           3Q           4Q           4Q09 vs  4Q09 vs  YTD           YTD           %
thousands)      2009         2009         2008         3Q09     4Q08     2009          2008          Chg

Allowance for
Loan and Lease
Losses

Balance at
beginning of    $ 215,732    $ 193,445    $ 158,978    11.5  %  35.7  %  $ 172,442     $ 80,942      113.0 %
period

Charge-offs       (52,841 )    (57,214 )    (37,100 )  (7.6  )  42.4       (202,398 )    (114,800 )  76.3

Recoveries        4,191        3,957        3,514      6.0      19.3       15,891        14,255      11.5

Net               (48,650 )    (53,257 )    (33,586 )  (8.7  )  44.8       (186,507 )    (100,545 )  85.5
charge-offs

Provision for     77,389       75,544       47,050     2.4      64.5       258,536       192,045     34.6
credit losses

Balance at end  $ 244,471    $ 215,732    $ 172,442    13.3     41.8     $ 244,471     $ 172,442     41.8
of period

Allowance as a
percentage of
period end        1.68    %    1.51    %    1.29    %                      1.68     %    1.29     %
loans and
leases

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

Credit Loss
Reserves

Allowance for
loan and lease  $ 244,471    $ 215,732    $ 172,442    13.3     41.8
losses

Reserves
netted against    10,168       12,951       -          (21.5 )  N.M.
portfolio
asset balances

Reserves for
unfunded          3,850        2,871        1,510      34.1     155.0
commitments

Total credit    $ 258,489    $ 231,554    $ 173,952    11.6     48.6
loss reserves

Total credit
loss reserves
as a % of         1.77    %    1.61    %    1.30    %
period end
loans and
leases

Non-accrual
loans and       $ 296,275    $ 268,834    $ 172,518    10.2     71.7
leases

Real estate       105,768      94,167       61,665     12.3     71.5
owned

Total
non-performing  $ 402,043    $ 363,001    $ 234,183    10.8     71.7
assets

Non-performing
assets as a
                  2.80    %    2.57    %    1.78    %
percentage of
net loans and
leases

Accruing
consumer real
estate          $ 252,510    $ 159,881    $ 27,423     57.9  %  N.M.

restructured
loans

N.M. = Not meaningful

(1) Annualized



At December 31, 2009:

    --  Allowance for loan and lease losses was $244.5 million, or 1.68 percent
        of loans and leases, compared with $215.7 million, or 1.51 percent, at
        September 30, 2009 and $172.4 million, or 1.29 percent, at December 31,
        2008.
    --  Over 60-day delinquency rate was .69 percent, down from .81 percent at
        September 30, 2009 and up from .60 percent at December 31, 2008,
        primarily due to fluctuations in consumer real estate delinquency rates.
    --  Non-accrual loans and leases increased $27.4 million, or 10.2 percent,
        from September 30, 2009 and $123.8 million, or 71.7 percent, from
        December 31, 2008 primarily due to increases in consumer and commercial
        real estate non-accrual loans.
    --  Loan restructuring programs for consumer real estate borrowers
        implemented in the third quarter of 2009 have resulted in a significant
        increase in troubled debt restructurings, which management refers to as
        restructured loans. Restructured loan borrowers have experienced
        financial difficulties and concessions were granted that would not
        otherwise have been considered. Restructured loans generally accrue
        interest although at lower rates than the original loan over their
        restructured period. During the fourth quarter and for the full year of
        2009, TCF restructured loans totaling $95.4 million and $240.1 million,
        respectively. At December 31, 2009, total restructured loans were $252.5
        million, up from $27.4 million at December 31, 2008. Reserves for losses
        on accruing consumer real estate restructured loans were $27 million, or
        10.7 percent of the outstanding balance at December 31, 2009. The over
        60-day delinquency rate on these restructured loans was 2.48 percent at
        December 31, 2009.

For the quarter ended December 31, 2009:

    --  Provision for credit losses was $77.4 million, up from $47.1 million in
        the fourth quarter of 2008 and relatively flat compared to the $75.5
        million recorded in the third quarter of 2009. The increase from the
        fourth quarter of 2008 was primarily due to increased reserves for
        certain commercial loans and restructured consumer real estate loans and
        increased consumer real estate, commercial and leasing net charge-offs.
    --  Net loan and lease charge-offs were $48.7 million, or 1.35 percent
        annualized, of average loans and leases, up from $33.6 million, or 1.02
        percent annualized, of average loans and leases from the fourth quarter
        of 2008 and down from $53.3 million, or 1.52 percent annualized, of
        average loans and leases in the third quarter of 2009. Increases over
        the fourth quarter of 2008 were primarily due to increases in consumer
        real estate, commercial real estate and leasing and equipment finance
        net charge-offs. The decrease from the third quarter of 2009 was the
        result of decreases in every category with the exception of a small
        increase in consumer loan net charge-offs.

"For the first time in eight quarters, TCF experienced a decrease in total net charge-offs," said William A. Cooper. "While this decrease may not signal a trend, TCF is starting to realize the value associated with the stabilization or increases in property values in most of our markets and a slight improvement in economic activity. While charge-offs remain high compared with historical standards, the overall value of TCF's secured lending philosophy has been evident during one of the worst economies of our era."

Income Taxes

    --  Income tax expense was $9.4 million for the fourth quarter of 2009, or
        32.8 percent of pre-tax income, compared with $17.5 million, or 38.8
        percent of pre-tax income, for the comparable 2008 period and $6.5
        million, or 27.4 percent of pre-tax income, for the third quarter 2009.
        The effective tax rate for the fourth quarter of 2009 has a year-to-date
        change in estimate of the rate of $1.1 million, or 85 basis points on
        the effective tax rate. Income tax expense for the fourth quarter of
        2008 included a $1.5 million increase in income tax expense for
        distributions from the company's deferred compensation plans. Excluding
        this item, the effective income tax rate was 35.5 percent for 2008.
    --  Income tax expense was $45.9 million for 2009, or 34.6 percent of
        pre-tax income, compared with $76.7 million, or 37.3 percent of pre-tax
        income, for 2008. Income tax expense for 2009 included a $4.2 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. Income tax expense for 2008 included a $2.2
        million increase in income tax expense and a $2.8 million increase in
        deferred income taxes related to changes in state tax laws, primarily in
        Minnesota, and a $1.5 million increase in income tax expense related to
        distributions from the company's deferred compensation plans. Excluding
        these significant items, the effective income tax rate was 37.8 percent
        for 2009, up from 34.2 percent for 2008 due to higher state income
        taxes.

Capital and Liquidity

Capital Information                                         Table 8

At period end

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



Total TCF stockholders' equity        $1,179,755            $1,493,776

Total equity                          $1,175,362            $1,493,776

Total equity to total assets          6.60       %          8.92       %

Book value per common share           $9.10                 $8.99

Tangible realized common equity to    5.86       %          6.01       %
tangible assets(1)

Risk-based capital

Tier 1                                $1,161,750   8.52  %  $1,461,973   11.79 %

Total                                 1,514,878    11.12    1,817,225    14.65

Total stated "well-capitalized"       1,362,795    10.00    1,240,147    10.00
requirement

Excess over stated "well-capitalized" 152,083      1.12     577,078      4.65
requirement

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



    --  Total risk-based capital at December 31, 2009 of $1.5 billion, or 11.12
        percent of risk-weighted assets, was $152.1 million in excess of the
        stated "well-capitalized" requirement. Decreases in tier 1 and total
        risk-based capital are primarily the result of TCF redeeming all shares
        of preferred stock issued to the U.S. Department of Treasury under the
        Capital Purchase Program for $361.2 million in April of 2009.
    --  In December, the U.S. Department of Treasury completed a public auction
        for the warrant issued by TCF under the Capital Purchase Program, which
        is now being traded under the symbol "TCB WS" on the New York Stock
        Exchange.
    --  On January 19, 2010, the Board of Directors of TCF declared a regular
        quarterly cash dividend of five cents per common share payable on
        February 26, 2010 to stockholders of record at the close of business on
        January 29, 2010.
    --  At December 31, 2009, TCF had $1.9 billion in unused, secured borrowing
        capacity at the FHLB of Des Moines and $708 million in unused, secured
        borrowing capacity at the Federal Reserve Discount Window.

Website Information

A live webcast of TCF's conference call to discuss 2009 earnings will be hosted at TCF's website, http://ir.tcfbank.com, on January 21, 2010 at 10:00 a.m., CST. 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 $17.9 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 the following:

Adverse Economic or Business Conditions, Credit Risks. Continued or deepening deterioration in general economic and banking industry conditions, or continued increases in unemployment in TCF's primary banking markets; adverse economic, business and competitive developments such as shrinking interest margins, deposit outflows, deposit account attrition, or an inability to increase the number of deposit accounts; adverse 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 the allowance for loan and lease losses dictated by new market conditions or regulatory requirements.

Earnings/capital constraints, Liquidity Risks. 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"); the impact of financial regulatory reform proposals, including possible additional capital requirements; adverse changes in securities markets directly or indirectly affecting TCF's ability to sell assets or to fund its operations; diminished unsecured borrowing capacity resulting from TCF credit rating downgrades and unfavorable conditions in the credit markets that restrict or limit various funding sources.

Legislative and Regulatory Requirements. 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 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; reduction of interchange revenue from debit card transactions; impact of legislative, regulatory or other changes affecting customer account charges and fee income; 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); adverse regulatory examinations and resulting enforcement actions, including those provided for under the Bank Secrecy Act; heightened regulatory practices, requirements or expectations, including, but not limited to, requirements related to the Bank Secrecy Act and anti-money laundering compliance activity.

Litigation Risks. 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.

Competitive Conditions; Supermarket Branching Risks. 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.

Accounting, Audit, Tax and Insurance Matters. 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; lack of or inadequate insurance coverage for claims against TCF.

Technological and Operational Matters. Technological, computer related or operational difficulties or loss or theft of information and the possibility that deposit account losses (fraudulent checks, etc.) may increase.

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

                               December 31,              Change

                               2009          2008        $             %

Interest income:

 Loans and leases              $ 222,300     $ 211,346   $ 10,954      5.2     %

 Securities available for        20,035        25,232      (5,197  )   (20.6 )
 sale

 Investments and other           1,160         1,224       (64     )   (5.2  )

  Total interest income          243,495       237,802     5,693       2.4

Interest expense:

 Deposits                        21,171        37,362      (16,191 )   (43.3 )

 Borrowings                      52,683        53,323      (640    )   (1.2  )

  Total interest expense         73,854        90,685      (16,831 )   (18.6 )

       Net interest income       169,641       147,117     22,524      15.3

Provision for credit losses      77,389        47,050      30,339      64.5

  Net interest income after      92,252        100,067     (7,815  )   (7.8  )
  provision for credit losses

Non-interest income:

 Fees and service charges        74,875        67,448      7,427       11.0

 Card revenue                    26,813        25,243      1,570       6.2

 ATM revenue                     7,006         7,688       (682    )   (8.9  )

  Subtotal                       108,694       100,379     8,315       8.3

 Leasing and equipment           24,408        16,298      8,110       49.8
 finance

 Other                           2,764         130         2,634       N.M.

  Fees and other revenue         135,866       116,807     19,059      16.3

 Gains on securities, net        7,283         8,167       (884    )   (10.8 )

  Total non-interest income      143,149       124,974     18,175      14.5

Non-interest expense:

 Compensation and employee       89,374        83,323      6,051       7.3
 benefits

 Occupancy and equipment         31,099        32,503      (1,404  )   (4.3  )

 Deposit account premiums        9,347         5,659       3,688       65.2

 Advertising and promotions      3,789         4,643       (854    )   (18.4 )

 FDIC premiums and               5,288         1,706       3,582       N.M.
 assessments

 Foreclosed real estate and      12,088        6,341       5,747       90.6
 repossessed assets, net

 Other                           45,028        41,366      3,662       8.9

  Subtotal                       196,013       175,541     20,472      11.7

 Operating lease depreciation    10,750        4,269       6,481       151.8

  Total non-interest expense     206,763       179,810     26,953      15.0

       Income before income      28,638        45,231      (16,593 )   (36.7 )
       tax expense

Income tax expense               9,385         17,527      (8,142  )   (46.5 )

       Income after income       19,253        27,704      (8,451  )   (30.5 )
       tax expense

Income (loss) attributable to    (203    )     -           (203    )   N.M.
non-controlling interest

       Net income                19,456        27,704      (8,248  )   (29.8 )

Preferred stock dividends        -             2,540       (2,540  )   N.M.

       Net income available    $ 19,456      $ 25,164    $ (5,708  )   (22.7 )
       to common stockholders

Net income per common share:

 Basic                         $ .15         $ .20       $ (.05    )   (25.0 )

 Diluted                         .15           .20         (.05    )   (25.0 )

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

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

  Basic                          127,157       125,345     1,812       1.4

  Diluted                        127,203       125,355     1,848       1.5

N.M. Not meaningful



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

                               Year Ended

                               December 31,              Change

                               2009          2008        $             %

Interest income:

 Loans and leases              $ 864,384     $ 847,512   $ 16,872      2.0     %

 Securities available for        89,427        110,946     (21,519 )   (19.4 )
 sale

 Investments and other           4,370         5,937       (1,567  )   (26.4 )

  Total interest income          958,181       964,395     (6,214  )   (.6   )

Interest expense:

 Deposits                        122,112       156,774     (34,662 )   (22.1 )

 Borrowings                      203,063       213,948     (10,885 )   (5.1  )

  Total interest expense         325,175       370,722     (45,547 )   (12.3 )

   Net interest income           633,006       593,673     39,333      6.6

Provision for credit losses      258,536       192,045     66,491      34.6

  Net interest income after      374,470       401,628     (27,158 )   (6.8  )
  provision for credit losses

Non-interest income:

 Fees and service charges        286,908       270,739     16,169      6.0

 Card revenue                    104,770       103,082     1,688       1.6

 ATM revenue                     30,438        32,645      (2,207  )   (6.8  )

  Subtotal                       422,116       406,466     15,650      3.9

 Leasing and equipment           69,113        55,488      13,625      24.6
 finance

 Other                           5,239         12,107      (6,868  )   (56.7 )

  Fees and other revenue         496,468       474,061     22,407      4.7

 Gains on securities, net        29,387        16,066      13,321      82.9

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

  Total non-interest income      525,855       498,435     27,420      5.5

Non-interest expense:

 Compensation and employee       356,996       341,203     15,793      4.6
 benefits

 Occupancy and equipment         126,292       127,953     (1,661  )   (1.3  )

 Deposit account premiums        30,682        16,888      13,794      81.7

 Advertising and promotions      17,134        19,150      (2,016  )   (10.5 )

 FDIC premiums and               27,471        2,990       24,481      N.M.
 assessments

 Foreclosed real estate and      30,542        18,731      11,811      63.1
 repossessed assets, net

 Other                           156,299       150,030     6,269       4.2

  Subtotal                       745,416       676,945     68,471      10.1

 Operating lease depreciation    22,368        17,458      4,910       28.1

  Total non-interest expense     767,784       694,403     73,381      10.6

   Income before income tax      132,541       205,660     (73,119 )   (35.6 )
   expense

Income tax expense               45,854        76,702      (30,848 )   (40.2 )

   Income after income tax       86,687        128,958     (42,271 )   (32.8 )
   expense

Income (loss) attributable to    (410    )     -           (410    )   N.M.
non-controlling interest

   Net income                    87,097        128,958     (41,861 )   (32.5 )

Preferred stock dividends        18,403        2,540       15,863      N.M.

   Net income available to     $ 68,694      $ 126,418   $ (57,724 )   (45.7 )
   common stockholders

Net income per common share:

 Basic                         $ .54         $ 1.01      $ (.47    )   (46.5 )

 Diluted                         .54           1.01        (.47    )   (46.5 )

Dividends declared per common  $ .40         $ 1.00      $ (.60    )   (60.0 )
share

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

  Basic                          126,593       124,943     1,650       1.3

  Diluted                        126,594       124,962     1,632       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

                       December 31,                      Change

                       2009             2008             $                %

ASSETS

Cash and due from      $ 299,127        $ 342,380        $ (43,253    )   (12.6 ) %
banks

Investments              163,692          155,725          7,967          5.1

Securities available     1,910,476        1,966,104        (55,628    )   (2.8  )
for sale

Loans and leases:

 Consumer real estate    7,331,991        7,364,340        (32,349    )   (.4   )
 and other

 Commercial real         3,269,003        2,984,156        284,847        9.5
 estate

 Commercial business     449,516          506,887          (57,371    )   (11.3 )

 Leasing and             3,071,429        2,486,082        585,347        23.5
 equipment finance

 Inventory finance       468,805          4,425            464,380        N.M.

       Total loans       14,590,744       13,345,890       1,244,854      9.3
       and leases

 Allowance for loan      (244,471   )     (172,442   )     (72,029    )   41.8
 and lease losses

       Net loans and     14,346,273       13,173,448       1,172,825      8.9
       leases

Premises and             447,930          447,826          104            -
equipment, net

Goodwill                 152,599          152,599          -              -

Other assets             565,078          502,275          62,803         12.5

        Total assets   $ 17,885,175     $ 16,740,357     $ 1,144,818      6.8

LIABILITIES AND
EQUITY

Deposits:

 Checking              $ 4,400,290      $ 3,969,768      $ 430,522        10.8

 Savings                 5,339,955        3,057,623        2,282,332      74.6

 Money market            640,569          619,678          20,891         3.4

       Subtotal          10,380,814       7,647,069        2,733,745      35.7

 Certificates of         1,187,505        2,596,283        (1,408,778 )   (54.3 )
 deposit

       Total deposits    11,568,319       10,243,352       1,324,967      12.9

Short-term borrowings    244,604          226,861          17,743         7.8

Long-term borrowings     4,510,895        4,433,913        76,982         1.7

       Total             4,755,499        4,660,774        94,725         2.0
       borrowings

Accrued expenses and     381,602          342,455          39,147         11.4
other liabilities

       Total             16,705,420       15,246,581       1,458,839      9.6
       liabilities

Equity:

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

 Common stock, par
 value $.01 per
 share,

 280,000,000 shares      1,303            1,308            (5         )   (.4   )
 authorized;
 130,339,500 and
 130,839,378 shares
 issued

 Additional paid-in      297,429          330,474          (33,045    )   (10.0 )
 capital

 Retained earnings,
 subject to certain      946,002          927,893          18,109         2.0
 restrictions

 Accumulated other
 comprehensive income    (18,545    )     (3,692     )     (14,853    )   N.M.
 (loss)

 Treasury stock at
 cost, 1,136,688 and     (50,827    )     (110,644   )     59,817         (54.1 )
 3,413,855 shares,
 and other

        Total TCF
        stockholders'    1,175,362        1,493,776        (318,414   )   (21.3 )
        equity

 Non-controlling
 interest in             4,393            -                4,393          N.M.
 subsidiaries

        Total equity     1,179,755        1,493,776        (314,021   )   (21.0 )

        Total
        liabilities    $ 17,885,175     $ 16,740,357     $ 1,144,818      6.8
        and equity

N.M. Not meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance
for loan and                                                                                Allowance as % of Portfolio
lease losses

              At December 31, 2009    At September 30, 2009       At December 31, 2008      Change from

              Allowance               Allowance                   Allowance                 Sep 30,         Dec. 31,

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

 Consumer     $ 164,966    2.27   %   $ 136,783      1.88     %   $ 98,436       1.35   %     39       bps    92       bps
 real estate

 Consumer       2,476      4.82         2,945        5.15           2,664        4.26         (33    )        56
 other

  Total
  consumer
  real          167,442    2.28         139,728      1.90           101,100      1.37         38              91
  estate and
  other

 Commercial     37,274     1.14         38,335       1.18           39,386       1.32         (4     )        (18    )
 real estate

 Commercial     6,230      1.39         7,706        1.65           11,865       2.34         (26    )        (95    )
 business

 Leasing and
 equipment      32,063     1.04         29,130       .95            20,058       .81          9               23
 finance

 Inventory      1,462      .31          833          .37            33           .75          (6     )        (44    )
 finance

  Total
  allowance
  for loan    $ 244,471    1.68       $ 215,732      1.51         $ 172,442      1.29         17              39
  and lease
  losses

Credit Loss   At December 31, 2009    At September 30, 2009       At December 31, 2008      Change from
Reserves

              Credit loss reserve     Credit loss reserve         Credit loss reserve       Sep. 30,        Dec. 31,

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

 Allowance
 for loan     $ 244,471    1.68   %   $ 215,732      1.51     %   $ 172,442      1.29   %     17       bps    39       bps
 and lease
 losses

 Reserves
 netted
 against        10,168   N.M.           12,951     N.M.             -            -            -               -
 portfolio
 asset
 balances

 Reserves
 for            3,850    N.M.           2,871      N.M.             1,510      N.M.           -               -
 unfunded
 commitments

  Total
  credit      $ 258,489    1.77       $ 231,554      1.61         $ 173,952      1.30         16              47
  loss
  reserves

Net                      Quarter Ended                                                      Change
Charge-Offs                                                                                 from

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

                         2009         2009         2009           2009         2008         2009            2008

 Consumer real estate

  First mortgage lien    $ 16,646     $ 15,694     $ 11,795       $ 10,477     $ 10,198     $ 952           $ 6,448

  Junior lien              14,757       14,201       11,201         11,849       10,664       556             4,093

   Total consumer real     31,403       29,895       22,996         22,326       20,862       1,508           10,541
   estate

 Consumer other            2,219        2,587        1,661          1,290        3,303        (368   )        (1,084 )

  Total consumer real      33,622       32,482       24,657         23,616       24,165       1,140           9,457
  estate and other

 Commercial real estate    5,585        6,758        19,531         3,640        2,958        (1,173 )        2,627

 Commercial business       1,674        4,514        (55    )       2,981        2,631        (2,840 )        (957   )

 Leasing and equipment     7,681        9,409        5,529          4,701        3,832        (1,728 )        3,849
 finance

 Inventory finance         88           94           -              -            -            (6     )        88

  Total                  $ 48,650     $ 53,257     $ 49,662       $ 34,938     $ 33,586     $ (4,607 )      $ 15,064

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

                         Quarter Ended(1)                                                   Change from

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

                         2009         2009         2009           2009         2008         2009            2008

 Consumer real estate

  First mortgage lien      1.34   %     1.27    %    .96      %     .86     %    .84    %     7        bps    50       bps

  Junior                   2.54         2.44         1.90           1.98         1.76         10              78
  lien

   Total consumer real     1.73         1.65         1.26           1.22         1.14         8               59
   estate

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

  Total consumer real      1.84         1.78         1.35           1.29         1.32         6               52
  estate and other

 Commercial real estate    .69          .85          2.51           .49          .41          (16    )        28

 Commercial business       1.51         3.78         (.05   )       2.39         2.01         (227   )        (50    )

 Leasing and equipment     1.01         1.34         .79            .71          .64          (33    )        37
 finance

 Inventory                 .09          .20          -              -            -            (11    )        9
 finance

  Total                    1.35         1.52         1.43           1.04         1.02         (17    )        33

(1) Annualized

N.M. Not meaningful.



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

                      At           At           At           At           At           Change from

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

                      2009         2009         2009         2009         2008         2009             2008

Restructured Loans
(1)

     Consumer -       $ 252,510    $ 159,881    $ 51,483     $ 24,877     $ 27,423     $ 92,629         $ 225,087
     accruing

Potential Problem
Loans and Leases(1)
(2)

     Commercial real  $ 288,848    $ 222,437    $ 143,644    $ 176,277    $ 137,332    $ 66,411         $ 151,516
     estate

     Commercial         42,464       71,809       41,847       35,826       27,127       (29,345 )        15,337
     business

     Leasing and
     equipment          38,998       35,185       27,970       27,898       20,994       3,813            18,004
     finance

      Total           $ 370,310    $ 329,431    $ 213,461    $ 240,001    $ 185,453    $ 40,879         $ 184,857

Non-performing
assets

     Non-accrual
     loans and
     leases:

      Consumer real
      estate

       First          $ 118,313    $ 104,646    $ 83,766     $ 82,082     $ 71,078     $ 13,667         $ 47,235
       mortgage lien

       Junior lien      20,846       13,964       11,209       11,373       11,793       6,882            9,053

        Total
        consumer        139,159      118,610      94,975       93,455       82,871       20,549           56,288
        real estate

      Consumer other    141          120          147          146          65           21               76

       Total
       consumer real    139,300      118,730      95,122       93,601       82,936       20,570           56,364
       estate and
       other

      Commercial        77,627       93,419       87,252       67,264       54,615       (15,792 )        23,012
      real estate

      Commercial        28,569       9,836        11,532       11,857       14,088       18,733           14,481
      business

      Leasing and
      equipment         50,008       46,806       46,011       33,190       20,879       3,202            29,129
      finance

      Inventory         771          43           -            4            -            728              771
      finance

       Total
       non-accrual      296,275      268,834      239,917      205,916      172,518      27,441           123,757
       loans and
       leases

     Other real
     estate owned:

      Consumer real     66,956       73,397       72,745       45,633       38,632       (6,441  )        28,324
      estate

      Commercial        38,812       20,770       24,117       25,115       23,033       18,042           15,779
      real estate

       Total other
       real estate      105,768      94,167       96,862       70,748       61,665       11,601           44,103
       owned

      Total
      non-performing  $ 402,043    $ 363,001    $ 336,779    $ 276,664    $ 234,183    $ 39,042         $ 167,860
      assets

     Non-performing
     assets as a
     percentage of      2.80    %    2.57    %    2.45    %    2.03    %    1.78    %    23        bps    102       bps
     net loans and
     leases

     Current
     allowance plus
     charge-offs and
     writedowns to
     date as a
     percentage of
     contractual
     balance:

       Non-accrual
       loans and
       leases

        Consumer        19.3    %    18.4    %    17.0    %    14.2    %    13.6    %    90        bps    570       bps
        real estate

        Commercial      25.7         29.7         27.8         28.7         31.2         (400    )        (550    )

        Leasing and
        equipment       29.9         27.7         27.1         24.5         26.7         220              320
        finance

        Total           23.2         24.4         23.3         21.3         22.0         (120    )        120

       Other real
       estate owned

        Consumer        26.7         24.4         21.8         25.7         24.7         230              200
        real estate

        Commercial      27.8         23.7         12.6         10.8         30.7         410              (290    )

        Total           27.1         24.3         19.7         21.0         27.0         280              10

(1 ) Excludes non-accrual loans and leases.

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



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

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

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

                     2009         2009         2009        2009        2008        2009             2008

     60 days or
     more:

     Consumer real
     estate

      First          $ 65,074     $ 78,281     $ 65,022    $ 57,121    $ 53,482    $ (13,207 )      $ 11,592
      mortgage lien

      Junior lien      17,942       16,880       13,403      10,141      13,940      1,062            4,002

       Total
       consumer        83,016       95,161       78,425      67,262      67,422      (12,145 )        15,594
       real estate

     Consumer other    215          250          207         187         313         (35     )        (98    )

      Total
      consumer real    83,231       95,411       78,632      67,449      67,735      (12,180 )        15,496
      estate and
      other

     Commercial        22           1,089        2,150       -           225         (1,067  )        (203   )
     real estate

     Commercial        46           12           129         9           605         34               (559   )
     business

     Leasing and
     equipment         11,263       13,664       16,414      12,173      10,905      (2,401  )        358
     finance

     Inventory         705          69           -           135         -           636              705
     finance

      Subtotal(2)      95,267       110,245      97,325      79,766      79,470      (14,978 )        15,797

     Acquired          10,862       11,585       1,657       2,504       -           (723    )        10,862
     portfolios

      Total          $ 106,129    $ 121,830    $ 98,982    $ 82,270    $ 79,470    $ (15,701 )      $ 26,659
      delinquencies

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

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

                     2009         2009         2009        2009        2008        2009             2008

     60 days or
     more:

     Consumer real
     estate

      First            1.34    %    1.62    %    1.34   %    1.18   %    1.11   %    (28     ) bps    23       bps
      mortgage lien

      Junior lien      .78          .73          .58         .43         .58         5                20

       Total
       consumer        1.16         1.33         1.09        .93         .93         (17     )        23
       real estate

     Consumer other    .42          .44          .34         .34         .51         (2      )        (9     )

      Total
      consumer real    1.16         1.32         1.09        .93         .93         (16     )        23
      estate and
      other

     Commercial        -            .03          .07         -           .01         (3      )        (1     )
     real estate

     Commercial        .01          -            .03         -           .12         1                (11    )
     business

     Leasing and
     equipment         .44          .53          .65         .49         .44         (9      )        -
     finance

     Inventory         .19          .03          -           .13         -           16               19
     finance

      Subtotal(2)      .69          .81          .72         .60         .60         (12     )        9

     Acquired          1.93         2.62         .69         .97         -           (69     )        193
     portfolios

      Total            .74          .87          .72         .60         .60         (13     )        14
      delinquencies

(1 ) Excludes non-accrual loans and leases.

     Excludes delinquencies and non-accrual loans in acquired portfolios as delinquency and non-accrual migration
(2 ) 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 December 31,

                          2009                               2008

                          Average                  Yields    Average                  Yields
                                                   and                                and

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

ASSETS

  Investments and other   $ 176,487     $ 1,160    2.62   %  $ 166,580     $ 1,224    2.93   %

  U.S. Government
  sponsored entities:

    Mortgage-backed         1,497,672     17,707   4.73        1,963,608     25,203   5.13
    securities

    Debentures              413,647       2,310    2.23        -             -        -

  Other securities          68,415        18       .11         2,953         29       3.93

    Total securities        1,979,734     20,035   4.05        1,966,561     25,232   5.13
    available for sale

  Loans and leases:

    Consumer real estate

      Fixed-rate            5,360,601     84,542   6.26        5,496,532     91,522   6.63

      Variable-rate         1,914,750     27,182   5.63        1,793,651     27,044   6.00

    Consumer - other        32,676        703      8.54        45,495        964      8.44

        Total consumer
        real estate and     7,308,027     112,427  6.11        7,335,678     119,530  6.48
        other

    Commercial real
    estate

      Fixed- and            2,708,597     41,408   6.07        2,287,226     35,304   6.12
      adjustable-rate

      Variable-rate         532,672       5,451    4.06        608,709       7,456    4.87

        Total commercial    3,241,269     46,859   5.74        2,895,935     42,760   5.87
        real estate

    Commercial business

      Fixed- and            152,784       2,189    5.68        171,687       2,437    5.65
      adjustable-rate

      Variable-rate         290,229       2,846    3.89        350,949       3,914    4.44

        Total commercial    443,013       5,035    4.51        522,636       6,351    4.83
        business

    Leasing and             3,049,093     50,494   6.62        2,389,225     42,701   7.15
    equipment finance

    Inventory finance       383,291       7,485    7.81        158           4        10.13

      Total loans and       14,424,693    222,300  6.13        13,143,632    211,346  6.40
      leases

        Total
        interest-earning    16,580,914    243,495  5.84        15,276,773    237,802  6.20
        assets

  Other assets              1,194,053                          1,130,462

    Total assets          $ 17,774,967                       $ 16,407,235

LIABILITIES AND EQUITY

  Non-interest bearing
  deposits:

    Retail                $ 1,355,543                        $ 1,345,832

    Small business          611,454                            593,626

    Commercial and          297,223                            234,045
    custodial

      Total non-interest    2,264,220                          2,173,503
      bearing deposits

  Interest-bearing
  deposits:

    Checking                1,868,911     1,731    .37         1,754,111     2,935    .67

    Savings                 5,214,318     12,484   .95         2,847,838     13,002   1.82

    Money market            671,755       1,288    .76         625,198       2,625    1.67

      Subtotal              7,754,984     15,503   .79         5,227,147     18,562   1.41

    Certificates of         1,366,871     5,668    1.64        2,448,815     18,800   3.05
    deposit

      Total
      interest-bearing      9,121,855     21,171   .92         7,675,962     37,362   1.94
      deposits

        Total deposits      11,386,075    21,171   .74         9,849,465     37,362   1.51

  Borrowings:

    Short-term              240,981       101      .17         454,202       1,102    .97
    borrowings

    Long-term borrowings    4,511,311     52,582   4.63        4,435,730     52,221   4.69

        Total borrowings    4,752,292     52,683   4.40        4,889,932     53,323   4.34

    Total deposits and      16,138,367    73,854   1.82        14,739,397    90,685   2.45
    borrowings

  Other liabilities         447,597                            366,063

    Total liabilities       16,585,964                         15,105,460

  Equity                    1,189,003                          1,301,775

    Total liabilities     $ 17,774,967                       $ 16,407,235
    and equity

Net interest income and                 $ 169,641  4.07   %                $ 147,117  3.84   %
margin

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

                            Year Ended December 31,

                            2009                               2008

                            Average                  Yields    Average                  Yields
                                                     and                                and

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

ASSETS

  Investments and other     $ 375,396     $ 4,370    1.16   %  $ 155,839     $ 5,937    3.81   %

  U.S. Government
  sponsored entities:

    Mortgage-backed           1,645,544     80,902   4.92        2,100,291     110,502  5.26
    securities

    Debentures                389,245       8,487    2.18        -             -        -

  Other securities            17,617        38       .22         12,674        444      3.50

    Total securities          2,052,406     89,427   4.36        2,112,965     110,946  5.25
    available for sale

  Loans and leases:

    Consumer real estate

        Fixed-rate            5,421,081     348,400  6.43        5,532,198     372,068  6.73

        Variable-rate         1,862,267     106,988  5.75        1,714,828     109,115  6.36

    Consumer - other          35,849        3,061    8.54        132,890       9,232    6.95

          Total consumer
          real estate and     7,319,197     458,449  6.26        7,379,916     490,415  6.65
          other

    Commercial real estate

        Fixed- and            2,574,818     155,812  6.05        2,127,436     132,014  6.21
        adjustable-rate

        Variable-rate         561,881       22,544   4.01        597,071       31,110   5.21

          Total commercial    3,136,699     178,356  5.69        2,724,507     163,124  5.99
          real estate

    Commercial business

        Fixed- and            166,745       9,581    5.75        168,554       9,988    5.93
        adjustable-rate

        Variable-rate         308,929       10,644   3.45        366,593       18,143   4.95

          Total commercial    475,674       20,225   4.25        535,147       28,131   5.26
          business

    Leasing and equipment     2,826,835     192,557  6.81        2,265,391     165,838  7.32
    finance

    Inventory finance         179,990       14,797   8.22        40            4        10.00

        Total loans and       13,938,395    864,384  6.20        12,905,001    847,512  6.57
        leases

          Total
          interest-earning    16,366,197    958,181  5.85        15,173,805    964,395  6.36
          assets

  Other assets                1,157,314                          1,158,545

    Total assets            $ 17,523,511                       $ 16,332,350

LIABILITIES AND EQUITY

  Non-interest bearing
  deposits:

    Retail                  $ 1,402,442                        $ 1,408,657

    Small business            584,605                            583,611

    Commercial and            265,681                            231,903
    custodial

        Total non-interest    2,252,728                          2,224,171
        bearing deposits

  Interest-bearing
  deposits:

    Checking                  1,802,694     8,138    .45         1,830,361     12,933   .71

    Savings                   4,732,316     58,556   1.24        2,812,115     48,601   1.73

    Money Market              683,030       7,006    1.03        613,543       10,099   1.65

        Subtotal              7,218,040     73,700   1.02        5,256,019     71,633   1.37

    Certificates of           1,915,467     48,413   2.53        2,472,357     85,141   3.44
    deposit

        Total
        interest-bearing      9,133,507     122,113  1.34        7,728,376     156,774  2.03
        deposits

          Total deposits      11,386,235    122,113  1.07        9,952,547     156,774  1.58

  Borrowings:

    Short-term borrowings     85,228        233      .27         411,763       8,990    2.18

    Long-term borrowings      4,373,182     202,829  4.64        4,459,703     204,958  4.60

          Total borrowings    4,458,410     203,062  4.55        4,871,466     213,948  4.39

    Total deposits and        15,844,645    325,175  2.05        14,824,013    370,722  2.50
    borrowings

  Other liabilities           416,555                            359,223

    Total liabilities         16,261,200                         15,183,236

  Equity                      1,262,311                          1,149,114

    Total liabilities and   $ 17,523,511                       $ 16,332,350
    equity

Net interest income and                   $ 633,006  3.87   %                $ 593,673  3.91   %
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

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

                   2009           2009           2009         2009         2008

Interest income:

 Loans and leases  $ 222,300      $ 217,307      $ 215,400    $ 209,377    $ 211,346

 Securities
 available for       20,035         20,474         23,217       25,701       25,232
 sale

 Investments and     1,160          1,217          1,137        856          1,224
 other

   Total interest    243,495        238,998        239,754      235,934      237,802
   income

Interest expense:

 Deposits            21,171         27,512         33,345       40,084       37,362

 Borrowings          52,683         49,997         49,946       50,437       53,323

   Total interest    73,854         77,509         83,291       90,521       90,685
   expense

     Net interest    169,641        161,489        156,463      145,413      147,117
     income

Provision for        77,389         75,544         61,891       43,712       47,050
credit losses

   Net interest
   income after      92,252         85,945         94,572       101,701      100,067
   provision for
   credit losses

Non-interest
income:

 Fees and service    74,875         77,433         77,536       57,064       67,448
 charges

 Card revenue        26,813         26,393         26,604       24,960       25,243

 ATM revenue         7,006          7,861          7,973        7,598        7,688

   Subtotal          108,694        111,687        112,113      89,622       100,379

 Leasing and
 equipment           24,408         15,173         16,881       12,651       16,298
 finance

 Other               2,764          1,197          820          458          130

   Fees and other    135,866        128,057        129,814      102,731      116,807
   revenue

 Gains on            7,283          -              10,556       11,548       8,167
 securities, net

     Total
     non-interest    143,149        128,057        140,370      114,279      124,974
     income

Non-interest
expense:

 Compensation and
 employee            89,374         90,680         90,752       86,190       83,323
 benefits

 Occupancy and       31,099         31,619         31,527       32,047       32,503
 equipment

 Deposit account     9,347          7,472          7,287        6,576        5,659
 premiums

 Advertising and     3,789          4,766          4,134        4,445        4,643
 promotions

 FDIC premiums       5,288          5,085          13,303       3,795        1,706
 and assessments

 Foreclosed real
 estate and          12,088         8,038          6,125        4,291        6,341
 repossessed
 assets

 Other               45,028         38,873         39,558       32,840       41,366

   Subtotal          196,013        186,533        192,686      170,184      175,541

 Operating lease     10,750         3,734          3,860        4,024        4,269
 depreciation

   Total
   non-interest      206,763        190,267        196,546      174,208      179,810
   expense

     Income
     before          28,638         23,735         38,396       41,772       45,231
     income tax
     expense

Income tax           9,385          6,491          14,853       15,125       17,527
expense

     Income after
     income tax      19,253         17,244         23,543       26,647       27,704
     expense

Income (loss)
attributable to      (203    )      (207    )      -            -            -
non-controlling
interest

     Net income      19,456         17,451         23,543       26,647       27,704

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

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

     Net income
     available to  $ 19,456       $ 17,451       $ 10,325     $ 21,462     $ 25,164
     common
     stockholders

Net income per
common share:

 Basic             $ .15          $ .14          $ .08        $ .17        $ .20

 Diluted             .15            .14            .08          .17          .20

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

Financial Ratios:

Return on average    .43       %    .39       %    .53     %    .62     %    .68     %
assets(1)

Return on average    6.57           6.03           3.61         7.58         9.00
common equity(1)

Net interest         4.07           3.92           3.80         3.66         3.84
margin(1)

Average common
equity to average    6.69           6.61           6.48         6.61         6.81
assets

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS

(In thousands)

(Unaudited)

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

                      2009            2009            2009            2009            2008

ASSETS

Cash and due from     $ 297,758       $ 499,696       $ 564,853       $ 609,168       $ 297,252
banks

Investments             158,764         157,590         166,824         165,243         166,580

U.S. Government
sponsored entities:

 Mortgage-backed        1,497,672       1,432,670       1,656,767       2,002,962       1,963,608
 securities

 Debentures             413,647         600,098         527,562         8,908           -

Other securities        68,415          489             498             506             2,953

 Total securities       1,979,734       2,033,257       2,184,827       2,012,376       1,966,561
 available for sale

Loans and leases:

 Consumer real
 estate

   Fixed-rate           5,360,601       5,394,712       5,453,117       5,477,467       5,496,533

   Variable-rate        1,914,750       1,873,913       1,840,983       1,818,232       1,793,650

 Consumer - other       32,676          35,015          36,255          39,539          45,495

    Total consumer
    real estate and     7,308,027       7,303,640       7,330,355       7,335,238       7,335,678
    other

 Commercial real
 estate

   Fixed- and           2,708,597       2,645,261       2,531,026       2,410,335       2,287,226
   adjustable-rate

   Variable-rate        532,672         548,425         579,004         588,181         608,709

    Total commercial    3,241,269       3,193,686       3,110,030       2,998,516       2,895,935
    real estate

 Commercial business

   Fixed- and           152,784         166,008         173,000         175,445         171,687
   adjustable-rate

   Variable-rate        290,229         311,033         310,493         324,311         350,949

    Total commercial    443,013         477,041         483,493         499,756         522,636
    business

 Leasing and            3,049,093       2,811,165       2,809,787       2,632,893       2,389,225
 equipment finance

 Inventory finance      383,291         185,914         118,317         28,475          158

   Total loans and      14,424,693      13,971,446      13,851,982      13,494,878      13,143,632
   leases

 Allowance for loan     (218,967   )    (200,684   )    (181,895   )    (174,364   )    (160,662   )
 and lease losses

   Net loans and        14,205,726      13,770,762      13,670,087      13,320,514      12,982,970
   leases

Premises and            449,738         449,625         449,622         450,128         447,249
equipment

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

Other assets            530,648         462,996         447,105         439,692         394,024

 Total assets         $ 17,774,967    $ 17,526,525    $ 17,635,917    $ 17,149,720    $ 16,407,235

LIABILITIES AND
EQUITY

Non-interest-bearing
deposits:

 Retail               $ 1,355,543     $ 1,380,591     $ 1,446,215     $ 1,428,453     $ 1,345,832

 Small business         611,454         591,451         571,676         563,236         593,626

 Commercial and         297,223         277,135         260,079         227,470         234,045
 custodial

   Total
   non-interest         2,264,220       2,249,177       2,277,970       2,219,159       2,173,503
   bearing deposits

Interest-bearing
deposits:

 Checking               1,868,911       1,800,583       1,792,493       1,747,480       1,754,111

 Savings                5,214,318       5,071,509       4,823,897       3,800,275       2,847,838

 Money Market           671,755         723,098         690,201         646,347         625,198

   Subtotal             7,754,984       7,595,190       7,306,591       6,194,102       5,227,147

 Certificates of        1,366,871       1,757,884       2,087,490       2,463,405       2,448,815
 deposit

   Total
   interest-bearing     9,121,855       9,353,074       9,394,081       8,657,507       7,675,962
   deposits

    Total deposits      11,386,075      11,602,251      11,672,051      10,876,666      9,849,465

Borrowings:

 Short-term             240,981         25,267          29,027          44,131          454,202
 borrowings

 Long-term              4,511,311       4,306,009       4,307,777       4,366,782       4,435,730
 borrowings

   Total borrowings     4,752,292       4,331,276       4,336,804       4,410,913       4,889,932

Accrued expenses and    447,597         435,215         403,561         380,202         366,063
other liabilities

   Total liabilities    16,585,964      16,368,742      16,412,416      15,667,781      15,105,460

Equity:

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

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

 Additional paid-in     302,209         305,199         301,937         319,872         328,078
 capital

 Retained earnings      938,504         926,137         922,856         914,972         924,456

 Accumulated other      1,040           (7,490     )    (5,097     )    (5,745     )    (13,896    )
 comprehensive loss

 Treasury stock at      (58,110    )    (67,641    )    (78,039    )    (97,192    )    (122,153   )
 cost and other

   Total
   stockholders         1,184,947       1,157,509       1,223,501       1,481,939       1,301,775
   equity

 Non-controlling
 interest in            4,056           274             -               -               -
 subsidiaries

   Total equity         1,189,003       1,157,783       1,223,501       1,481,939       1,301,775

   Total liabilities  $ 17,774,967    $ 17,526,525    $ 17,635,917    $ 17,149,720    $ 16,407,235
   and equity



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES(1)

(Unaudited)

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

                          2009    2009        2009        2009        2008

ASSETS

  Investments and other   2.62 %  1.24     %  1.00     %  .71      %  2.93     %

  U.S. Government
  sponsored entities:

   Mortgage-backed        4.73    4.80        4.91        5.12        5.13
   securities

   Debentures             2.23    2.19        2.17        1.57        -

  Other securities        .11     4.91        5.63        5.58        3.93

   Total securities       4.05    4.03        4.25        5.11        5.13
   available for sale

  Loans and leases:

   Consumer real estate

       Fixed-rate         6.26    6.36        6.52        6.57        6.63

       Variable-rate      5.63    5.72        5.79        5.85        6.00

   Consumer - other       8.54    8.57        8.63        8.43        8.44

        Total consumer
        real estate and   6.11    6.21        6.34        6.40        6.48
        other

   Commercial real
   estate

       Fixed- and         6.07    6.03        6.00        6.11        6.12
       adjustable-rate

       Variable-rate      4.06    4.16        3.95        3.89        4.87

        Total commercial  5.74    5.71        5.62        5.67        5.87
        real estate

   Commercial business

       Fixed- and         5.68    5.68        5.71        5.89        5.65
       adjustable-rate

       Variable-rate      3.89    3.67        3.27        2.98        4.44

        Total commercial  4.51    4.37        4.15        4.01        4.83
        business

   Leasing and equipment  6.62    6.78        6.89        7.00        7.15
   finance

   Inventory finance      7.81    9.10        8.35        8.64        10.13

       Total loans and    6.13    6.18        6.23        6.27        6.40
       leases

        Total
        interest-earning  5.84    5.80        5.83        5.96        6.20
        assets

LIABILITIES

  Interest-bearing
  deposits:

   Checking               .37     .39         .44         .62         .67

   Savings                .95     1.07        1.29        1.81        1.82

   Money market           .76     .90         1.03        1.45        1.67

       Subtotal           .79     .89         1.05        1.44        1.41

   Certificates of        1.64    2.36        2.72        2.98        3.05
   deposit

       Total
       interest-bearing   .92     1.17        1.42        1.88        1.94
       deposits

        Total deposits    .74     .94         1.15        1.49        1.51

  Borrowings:

   Short-term borrowings  .17     .22         .33         .86         .97

   Long-term borrowings   4.63    4.61        4.65        4.67        4.69

       Total borrowings   4.40    4.58        4.62        4.63        4.34

        Total
        interest-bearing  2.11    2.25        2.43        2.81        2.86
        liabilities

Net interest margin       4.07 %  3.92     %  3.80     %  3.66     %  3.84     %

(1) Annualized



TCF FINANCIAL CORPORATION AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES(1)

(Dollars in thousands)

(Unaudited)

                                                At Dec. 31,     At Dec. 31,

                                                2009            2008

Computation of total equity to total assets:

Total equity                                    $ 1,179,755     $ 1,493,776

Total assets                                    $ 17,885,175    $ 16,740,357

Total equity to total assets                      6.60       %    8.92       %

Computation of tangible realized common equity
to tangible assets:

Total equity                                    $ 1,179,755     $ 1,493,776

Less: Non-controlling interest in subsidiaries    4,393           -

Total TCF stockholders' equity                    1,175,362       1,493,776

Less:

Preferred stock                                   -               348,437

Goodwill                                          152,599         152,599

Other intangibles                                 1,405           -

Add:

Accumulated other comprehensive loss              18,545          3,692

Tangible realized common equity                 $ 1,039,903     $ 996,432

Total assets                                    $ 17,885,175    $ 16,740,357

Less:

Goodwill                                          152,599         152,599

Other intangibles                                 1,405           -

Tangible assets                                 $ 17,731,171    $ 16,587,758

Tangible realized common equity to tangible       5.86       %    6.01       %
assets

(1) In contrast to GAAP-basis measures, tangible realized common equity
excludes the effect of preferred stock, goodwill, other 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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