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Corporate & Financial

  • 7/27/18

    Adjusted diluted earnings per common share of 49 cents, (1) excluding 15 cent per share after-tax impact related to BCFP/OCC settlement

    SECOND QUARTER OBSERVATIONS

    • Revenue of $364.9 million, up 6.8 percent from the second quarter of 2017
    • Net interest income of $250.8 million, up 10.4 percent from the second quarter of 2017
    • Net interest margin of 4.67 percent, up 15 basis points from the second quarter of 2017
    • Reported efficiency ratio of 74.55 percent, up 636 basis points from the second quarter of 2017; adjusted efficiency ratio of 65.78 percent,(1) down 241 basis points from the second quarter of 2017
    • Auto finance portfolio run-off of $596.4 million year-to-date
    • Non-performing assets down 36.0 percent from June 30, 2017
    • Settlement with the Bureau of Consumer Financial Protection ("BCFP") and the Office of the Comptroller of the Currency ("OCC") resulting in a pre-tax charge, including related expenses, of $32.0 million, or 15 cents per share after-tax
    • Reported return on average common equity ("ROACE") of 9.72 percent; adjusted ROACE of 14.11 percent(1)
    • Reported return on average tangible common equity ("ROATCE") of 10.65 percent;(1) adjusted ROATCE of 15.39 percent(1)
    • Repurchased 2.8 million common shares at a cost of $68.2 million in the second quarter of 2018; repurchased $135.0 million of $150.0 million authorization through June 30, 2018
    • Additional $150.0 million share repurchase authorization approved by TCF's Board of Directors on July 25, 2018
    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation (NYSE: TCFmore...
  • 7/25/18
    WAYZATA, Minn.--(BUSINESS WIRE)--The Board of Directors of TCF Financial Corporation (TCF) (NYSE: TCF) today declared quarterly cash dividends on TCF’s common shares and 5.70% Series C Non-Cumulative Perpetual Preferred Stock. A quarterly cash dividend of $0.15 per common share is payable on September 4, 2018 to stockholders of record at the close of business on August 15, 2018. A quarterly cash dividend of $0.35625 per depositary share is payable onmore...
  • 7/20/18
    WAYZATA, Minn. (July 20, 2018) – TCF Financial Corporation (“TCF”) (NYSE:TCF) today issued the following statement regarding the settlement filed today that resolves its litigation with the Bureau of Consumer Financial Protection (the “BCFP”) and regulatory matters brought by the Office of the Comptroller of the Currency (the “OCC”) related to its overdraft opt-in practices. “We are pleased to have reached a resolution to an issue that datesmore...
  • 7/16/18
    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation (TCF) (NYSE: TCF) today announced it will release its second quarter 2018 earnings results before the market opens on Friday, July 27, 2018. Craig R. Dahl, chairman and chief executive officer, will host a conference call to discuss the results at 9:00 a.m. Central Daylight Time and will be joined by other TCF executives. If you would like to listen to TCF’s live conference call, please dial (844) 580-8285. A slidemore...
  • 6/13/18
    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation (TCF) (NYSE: TCF) and its subsidiaries announced today that they are increasing their prime rate to 5.00 percent from 4.75 percent, effective tomorrow, June 14, 2018. About TCF TCF Financial Corporation is a Wayzata, Minnesota-based national bank holding company. As of March 31, 2018, TCF had $23.4 billion in total assets and 318 bank branches in Illinois, Minnesota, Michigan, Colorado,more...
  • 6/12/18

    Three new regional managers add deep industry expertise to growing home loans division of TCF Bank.

    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Home Loans, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation (TCF) (NYSE: TCF), today announced that it added three new regional sales managers. These new hires will help lead the company’s team of residential mortgage professionals as they guide customers through all stages of the home loan process. New additions to the TCF Home Loans team include: Ty Sukalski - regionalmore...
  • 4/23/18

    FIRST QUARTER OBSERVATIONS

    • Revenue of $355.4 million, up 9.1 percent from the first quarter of 2017
    • Net interest income of $243.2 million, up 9.5 percent from the first quarter of 2017
    • Net interest margin of 4.59 percent, up 13 basis points from the first quarter of 2017
    • Period-end loans and leases of $19.4 billion, up 7.8 percent from March 31, 2017
    • Net charge-offs as a percentage of average loans and leases of 0.29 percent, up 18 basis points from the first quarter of 2017
    • Non-accrual loans and leases of $126.4 million, down 9.0 percent from March 31, 2017
    • Average deposits of $18.3 billion, up 7.0 percent from the first quarter of 2017
    • Efficiency ratio of 69.21 percent, improved 572 basis points from the first quarter of 2017
    • Earnings per share of 39 cents, up 14 cents from the first quarter of 2017. Impact of 2 cents per share related to the redemption of the 6.45% Series B non-cumulative perpetual preferred stock.
    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation (NYSE: TCF):                       Summary of Financial Resultsmore...
  • 4/19/18
    WAYZATA, Minn.--(BUSINESS WIRE)--The Board of Directors of TCF Financial Corporation (TCF) (NYSE: TCF) today declared quarterly cash dividends on TCF’s common shares and 5.70% Series C Non-Cumulative Perpetual Preferred Stock. A quarterly cash dividend of $0.15 per common share is payable on June 1, 2018 to stockholders of record at the close of business on May 15, 2018. At March 31, 2018, there were 169.4 million common shares outstanding listed on the New York Stockmore...
  • 4/13/18

    IDC predicts that 80% of new IT infrastructure purchases will be on a pay-as-you-go basis by 2020, but vendor-based offers leave customers stranded with legacy investments.

    RALEIGH, N.C. & MINNETONKA, Minn.--(BUSINESS WIRE)--6fusion and Winthrop Resources Corporation (Winthrop), a division of TCF Bank and an indirect subsidiary of TCF Financial Corporation (TCF) (NYSE: TCF), today announced a new program allowing companies to rapidly switch their IT investments to true pay-as-you-go consumption. The new service is designed for companies that urgently want the financial benefits of cloud computing, but wish to keep the flexibility and control of on premisemore...
  • 4/11/18
    WAYZATA, Minn.--(BUSINESS WIRE)--TCF Financial Corporation (TCF) (NYSE: TCF) today announced it will release its first quarter 2018 earnings results before the market opens on Monday, April 23, 2018. Craig R. Dahl, chairman and chief executive officer, will host a conference call to discuss the results at 9:00 a.m. Central Daylight Time and will be joined by other TCF executives. If you would like to listen to TCF’s live conference call, please dial (844) 580-8285. A slidemore...