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Table 4 - Credit Trends (Graphic: TCF Financial Corporation)

TCF Financial Corporation (NYSE: TCB):

2012 HIGHLIGHTS

- Net interest margin of 4.65 percent, up 66 basis points from 2011

- Total loans and leases of $15.4 billion, up 9 percent from 2011

- Average deposits increased $1.2 billion, or 10.1 percent from 2011

FOURTH QUARTER HIGHLIGHTS

- Net interest margin of 4.79 percent, up 87 basis points from the fourth quarter of 2011

- Pre-tax pre-provision profit of $87.2 million, up 3.5 percent from the fourth quarter of 2011

- Average deposits increased $1.7 billion, or 13.7 percent from the fourth quarter of 2011

- Non-performing assets decreased $65.8 million, or 12.1 percent from the third quarter of 2012

- Over 60-day accruing delinquent loans improved by $3.2 million, or 3.2 percent from the third quarter of 2012

- Announced common and preferred stock dividend payments, payable February 28, 2013 and March 1, 2013, respectively

                                                         
Summary of Financial Results                                                  

 

 

Table 1

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

4Q

4Q12 vs

  4Q12 vs

YTD

YTD

Percent

2012

 

2012

   

2011

 

3Q12

 

4Q11

 

2012 (3)

     

2011

 

Change

Net income (loss) $ 23,551 $ 9,322 $ 16,443 152.6 % 43.2 % $ (218,490 ) $ 109,394 N.M.
Net interest income 201,063 200,559 173,434 .3 15.9 780,019 699,688 11.5 %
Pre-tax pre-provision profit (1) 87,151 115,809 84,191 (24.7 ) 3.5 381,656 379,671 .5
Diluted earnings (loss) per common share .15 .06 .10 150.0 50.0 (1.37 ) .71 N.M.
 

Financial Ratios (2)

Return on average assets .63 % .30 % .37 % (1.14 ) % .61 %
Return on average common equity 5.93 2.36 3.55 (13.33 ) 6.32
Net interest margin 4.79 4.85 3.92 4.65 3.99

Net charge-offs as a percentage of average loans and leases

1.18 2.74 1.63 1.54 1.45
 
N.M. = Not meaningful.

(1) Pre-tax pre-provision profit (''PTPP'') is calculated as total revenues less non-interest expense. 2012 PTPP excludes the non-recurring net loss of $473.8 million related to the balance sheet repositioning completed in the first quarter of 2012.

(2) Annualized.
(3) Includes a net, after-tax charge of $295.8 million, or $1.87 per share, related to the balance sheet repositioning.
 

TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported net income for the fourth quarter of 2012 of $23.6 million, compared with net income of $16.4 million in the fourth quarter of 2011 and net income of $9.3 million for the third quarter of 2012. Diluted earnings per common share was 15 cents for the fourth quarter of 2012, compared with 10 cents in the fourth quarter of 2011 and 6 cents in the third quarter of 2012.

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