TCF Bank 2009 Annual Report Download - page 33

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2009 Form 10-K : 17
Item 7. Management’s Discussion
and Analysis of Financial Condition
and Results of Operations
  
Overview 17
Results of Operations 18
Performance Summary 18
Operating Segment Results 19
Consolidated Income Statement Analysis 19
Net Interest Income 19
Provision for Credit Losses 23
Non-Interest Income 23
Non-Interest Expense 25
Income Taxes 26
Consolidated Financial Condition Analysis 27
Securities Available for Sale 27
Loans and Leases 27
Allowance for Loan and Lease Losses 31
Non-Performing Assets 34
Repossessed and Returned Equipment 36
Impaired Loans 36
Past Due Loans and Leases 36
Loan Modications 37
Potential Problem Loans and Leases 37
Liquidity Management 38
Deposits 38
Borrowings 39
Contractual Obligations and Commitments 39
Stockholders’ Equity 40
Summary of Critical Accounting Estimates 40
Recent Accounting Developments 40
Fourth Quarter Summary 41
Legislative, Legal and Regulatory Developments 41
Forward-Looking Information 42
Management’s discussion and analysis of the consolidated
nancial condition and results of operations of TCF Financial
Corporation should be read in conjunction with the consoli-
dated nancial statements in Item 8 and selected nancial
data in Item 6.
Overview
TCF Financial Corporation, a Delaware corporation, is a
nancial holding company based in Wayzata, Minnesota. Its
principal subsidiary, TCF National Bank, is headquartered
in South Dakota. TCF had 443 banking ofces in Minnesota,
Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona
and South Dakota at December 31, 2009.
TCF provides convenient nancial services through
multiple channels in its primary banking markets. TCF has
developed products and services designed to meet the
needs of all consumers. The Company focuses on attracting
and retaining customers through service and convenience,
including branches that are open seven days a week and
on most holidays, extensive full-service supermarket
branches, automated teller machine (“ATM”) networks
and telephone and internet banking. TCF’s philosophy is to
generate interest income, fees and other revenue growth
through business lines that emphasize higher yielding
assets and low or no interest-cost deposits. The Company’s
growth strategies include new branch expansion, acquisi-
tions and the development of new products and services.
New products and services are designed to build on existing
businesses and expand into complementary products and
services through strategic initiatives.
TCF’s core businesses include Retail Banking, Wholesale
Banking and Treasury Services. Retail Banking includes
branch banking and retail lending. Wholesale Banking
includes commercial banking, leasing and equipment
nance and inventory nance. Treasury Services includes
the Company’s investment and borrowing portfolios and
management of capital, debt and market risks, including
interest-rate and liquidity risks.