TCF Financial 8-K TCF Reports Net Income of $31.5 Million, or 20 Cents Per Share

Exhibit 99.1

NEWS RELEASE

CONTACT:  Jason Korstange

 (952) 745-2755

www.tcfbank.com

FOR IMMEDIATE RELEASE

TCF FINANCIAL CORPORATION 200 Lake Street East, Wayzata, MN 55391-1693

TCF Reports Net Income of $31.5 Million, or 20 Cents Per Share

SECOND QUARTER HIGHLIGHTS

-  Net interest margin of 4.86 percent, up 84 bps from June 30, 2011

-  Pre-tax pre-provision profit of $108.1 million, up 13.6% from June 30, 2011

-  Total delinquent loans declined $23.7 million from March 31, 2012

-  Total loans and leases of $15.2 billion, increase of 4.1 percent from $14.6 billion at June 30, 2011

-  Completed $172.5 million preferred stock offering

-  Issued $110 million of subordinated notes

-  Acquired $778 million of deposits from Prudential Bank & Trust, FSB

-  Announced common and preferred stock dividend payments, payable August 31, 2012 and September 4, 2012, respectively

Summary of Financial Results																			Table 1
($ in thousands, except per-share data)										Percent Change
	2Q			1Q				2Q	2Q12 vs			2Q12 vs		YTD				YTD	Percent
	2012			2012 (3)				2011		1Q12		2Q11		2012				2011	Change
Net income (loss)	$	31,531		$	(282,894)		$	30,424		N.M.	%	3.6	%	$	(251,363)		$	60,696		N.M.	%
Pre-tax pre-provision profit(1)		108,118			70,578			95,201		53.2		13.6			178,696			190,508		(6.2)
Diluted earnings (loss) per common share		.20			(1.78)			.19		N.M.		5.3			(1.58)			.40		N.M.
Financial Ratios(2)
Return on average assets		.76	%		(5.96)	%		.68	%						(2.71)	%		.68	%
Return on average common equity		8.13			(63.38)			7.00							(29.84)			7.46
Net interest margin		4.86			4.14			4.02							4.49			4.04
Net charge-offs as a percentage of
average loans and leases		1.18			1.06			1.19							1.12			1.35
N.M. = Not meaningful.
(1) Pre-tax pre-provision profit ("PTPP") is calculated as total revenues less non-interest expense.  First quarter and year-to-date 2012 PTPP       excludes the 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 repositioning certain investments and borrowings.

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WAYZATA, MN, July 19, 2012 – TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported net income for the second quarter of 2012 of $31.5 million, compared with net income of $30.4 million in the second quarter of 2011 and a net loss of $282.9 million for the first quarter of 2012. The net loss for the first quarter of 2012 included a net, after-tax charge of $295.8 million, or $1.87 per share, related to a balance sheet repositioning involving certain investments and borrowings. Diluted earnings per common share was 20 cents for the second quarter of 2012, compared with diluted earnings per common share of 19 cents in the second quarter of 2011 and diluted loss per common share of $1.78 in the first quarter of 2012.

TCF reported a net loss of $251.4 million for the first six months of 2012, compared with net income of $60.7 million for the same period in 2011. Diluted loss per common share for the first six months of 2012 was $1.58, compared with earnings per common share of 40 cents for the same period in 2011.

TCF declared a dividend on its 7.50 percent Series A Non-cumulative Perpetual Preferred Stock payable on September 4, 2012 to stockholders of record at the close of business on August 15, 2012. TCF also declared a quarterly cash dividend of 5 cents per common share payable on August 31, 2012 to stockholders of record at the close of business on August 15, 2012.

Chairman’s Statement   

“We began the year by saying 2012 would be a ‘building and investing’ year for TCF, and at the half-way point, it has been just that,” said William A. Cooper, Chairman and Chief Executive Officer.  “TCF has been proactive in preparing for the future through actions such as a balance sheet repositioning and disciplined asset growth in national lending businesses.  TCF listened to what consumers want in a checking product and reintroduced TCF Free Checking to its customers during the quarter.  TCF also bolstered its capital position during the quarter through preferred stock and subordinated debt offerings, while announcing the redemption of its trust preferred securities. 

“The second quarter highlighted TCF’s earnings potential through a significant increase in net interest margin due to the full quarter impact of the balance sheet repositioning, as well as a change in trends in banking

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fees partially due to our deposit product fee structures.  Meanwhile, credit quality remains a challenge as we continue to work through problem credits.  We are seeing some encouraging trends in consumer real estate delinquencies, a leading indicator of consumer credit for TCF, which have decreased for a second consecutive quarter. 

“I am excited about the evolution that has taken place at TCF over the past year and the return to our roots with TCF Free Checking.  Today, we are in a much better position for success than we were a year ago.  As we continue to build on our recent investments, I am confident in our ability to improve future stockholder value.”

Revenue
Total Revenue																						Table 2
												Percent Change
				2Q			1Q			2Q		2Q12 vs		2Q12 vs			YTD			YTD		Percent
($ in thousands)				2012			2012			2011		1Q12		2Q11			2012			2011		Change
Net interest income			$	198,224		$	180,173		$	176,150		10.0	%	12.5	%	$	378,397		$	350,190		8.1	%
Fees and other revenue:
Fees and service charges				48,090			41,856			56,396		14.9		(14.7)			89,946			109,909		(18.2)
Card revenue				13,530			13,207			28,219		2.4		(52.1)			26,737			54,803		(51.2)
ATM revenue				6,276			6,199			7,091		1.2		(11.5)			12,475			13,796		(9.6)
	Total banking fees			67,896			61,262			91,706		10.8		(26.0)			129,158			178,508		(27.6)
Leasing and equipment finance				23,207			22,867			22,279		1.5		4.2			46,074			49,029		(6.0)
Gains on sales of auto loans				5,496			2,250			-		144.3		N.M.			7,746			-		N.M.
Other				3,168			2,355			384		34.5		N.M.			5,523			1,078		N.M.
	Total fees and other revenue			99,767			88,734			114,369		12.4		(12.8)			188,501			228,615		(17.5)
		Subtotal		297,991			268,907			290,519		10.8		2.6			566,898			578,805		(2.1)
Gains (losses) on securities, net				13,116			76,611			(227)		(82.9)		N.M.			89,727			(227)		N.M.
		Total revenue	$	311,107		$	345,518		$	290,292		(10.0)		7.2		$	656,625		$	578,578		13.5
Net interest margin(1)				4.86	%		4.14	%		4.02	%						4.49	%		4.04	%
Fees and other revenue as
	a % of total revenue			32.07			25.68			39.40							28.71			39.51
N.M. = Not meaningful.
(1) Annualized.

Net Interest Income

·Net interest income for the second quarter of 2012 increased $22.1 million, or 12.5 percent, compared with the second quarter of 2011.  The increase was primarily due to the balance sheet repositioning completed in the first quarter of 2012, which resulted in a $37.9 million reduction to the cost of borrowings, partially offset by a $13.9 million reduction of interest income on mortgage-backed

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securities.  Additionally, average balances of inventory finance loans and auto finance loans were higher, and the average cost of deposits was lower, during the second quarter of 2012 compared to the same period in 2011. Offsetting the increase in net interest income were lower yields on leasing and equipment finance loans and leases and consumer and commercial real estate loans as the portfolio rebalances to the current rate environment. Net interest income for the second quarter of 2012 increased $18.1 million, or 10 percent, compared with the first quarter of 2012. The increase in net interest income from the first quarter of 2012 was primarily due to the full quarter impact of the balance sheet repositioning, which resulted in a $28.6 million reduction to the cost of borrowings, partially offset by a $12.4 million reduction of interest income on mortgage-backed securities.  Also offsetting the increase was reduced interest income on loans and leases, driven by lower yields on consumer and commercial loans, offset by higher average balances of inventory finance and auto finance loans. 

·Net interest margin in the second quarter of 2012 was 4.86 percent, compared with 4.02 percent in the second quarter of 2011. This increase was primarily due to lower average cost of borrowings due to the effects of the balance sheet repositioning, which increased net interest margin by 92 basis points, as well as decreased rates on various deposit products and a positive mix shift to the higher yielding business lines including inventory finance and auto finance.  These increases were partially offset by a decrease in yields in the consumer, commercial, and leasing and equipment finance portfolios as a result of the lower interest rate environment. Net interest margin increased by 72 basis points from 4.14 percent in the first quarter of 2012.  This increase was primarily due to a lower average cost of borrowings due to the effects of the balance sheet repositioning, which increased net interest margin by 69 basis points, and growth in the inventory finance and auto finance portfolios.  These increases were partially offset by decreased levels of higher yielding loans in the consumer portfolio as a result of the lower interest rate environment and increased balances in higher rate deposit accounts.

·At June 30, 2012, interest-bearing deposits held at the Federal Reserve and unencumbered securities were $1.1 billion, an increase of $395 million from the second quarter of 2011 and $46 million from the

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first quarter of 2012.

Non-interest Income

·Banking fees and service charges in the second quarter of 2012 were $48.1 million, down $8.3 million, or 14.7 percent, from the second quarter of 2011 and up $6.2 million, or 14.9 percent, from the first quarter of 2012. The decrease in banking fees and revenues from the second quarter of 2011 was primarily due to checking account program changes that resulted in a reduced number of accounts. The increase from the first quarter of 2012 was primarily due to seasonality of checking account transactions and our deposit product fee structure changes.

·Card revenues were $13.5 million in the second quarter of 2012, a decrease of $14.7 million, or 52.1 percent, from the second quarter of 2011 and up $323 thousand, or 2.4 percent, from the first quarter of 2012. The decrease from the prior year is due to new debit card interchange regulations which took effect on October 1, 2011. The increase in card revenue from the first quarter of 2012 was primarily due to seasonal increases in transaction volume offset by a lower number of active checking accounts.

·TCF sold $144.1 million of auto loans and recognized $5.5 million in associated gains during the second quarter of 2012, compared with the sale of $72 million of auto loans and recognition of $2.3 million in associated gains during the first quarter of 2012.

·During the second quarter of 2012, TCF recognized a $13.1 million gain on sales of securities on the sale of its Visa^® Class B stock.

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Loans and Leases
Period-End and Average Loans and Leases																Table 3
								Percent Change
($ in thousands)			2Q		1Q		2Q	2Q12 vs		2Q12 vs			YTD		YTD	Percent
			2012		2012		2011	1Q12		2Q11			2012		2011	Change
Period-End:
Consumer real estate		$	6,811,784	$	6,815,909	$	7,018,240	(.1)	%	(2.9)	%
Commercial			3,523,070		3,467,089		3,614,395	1.6		(2.5)
Leasing and equipment finance			3,151,105		3,118,755		3,055,878	1.0		3.1
Inventory finance			1,457,263		1,637,958		905,922	(11.0)		60.9
Auto finance			262,188		139,047		-	88.6		N.M.
Other			29,094		29,178		37,510	(.3)		(22.4)
	Total	$	15,234,504	$	15,207,936	$	14,631,945	.2		4.1
Average:
Consumer real estate		$	6,793,415	$	6,845,063	$	7,034,448	(.8)		(3.4)		$	6,819,239	$	7,068,018	(3.5)	%
Commercial			3,492,049		3,457,720		3,597,644	1.0		(2.9)			3,474,885		3,610,481	(3.8)
Leasing and equipment finance			3,145,914		3,128,329		3,068,550	.6		2.5			3,137,122		3,093,969	1.4
Inventory finance			1,571,004		1,145,183		978,505	37.2		60.6			1,353,469		925,913	46.2
Auto finance			223,893		85,562		-	161.7		N.M.			154,728		-	N.M.
Other			17,647		17,582		19,463	.4		(9.3)			17,612		20,603	(14.5)
	Total	$	15,243,922	$	14,679,439	$	14,698,610	3.8		3.7		$	14,957,055	$	14,718,984	1.6
N.M. = Not meaningful.

·Loans and leases were $15.2 billion at June 30, 2012, an increase of $602.6 million, or 4.1 percent, compared with June 30, 2011, and flat compared with March 31, 2012.  The increase from June 30, 2011 was primarily due to growth in the inventory finance and auto finance portfolios, partially offset by lower balances in consumer real estate and commercial loans.  The increase in the inventory finance portfolio from the second quarter of 2011 was primarily due to the funding of dealers of Bombardier Recreational Products Inc. (“BRP”), which began on February 1, 2012. Increases in auto finance and commercial loans from the first quarter of 2012 were offset by decreases in inventory finance loans as a result of payments related to seasonal sales in the powersports and lawn and garden segments. Auto finance loans are expected to continue growing throughout 2012 as Gateway One Lending and Finance, LLC (“Gateway One”) expands its sales force, number of active dealers and number of states in its network. Gateway One increased its portfolio of managed loans, which includes loans, loans held for sale, and loans sold and serviced for others, by 40.4 percent to $780.3 million at June 30, 2012 from $555.8 million at March 31, 2012. Gateway One expanded its active dealers to 5,420 at June 30, 2012 from 4,452 at March 31, 2012.

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·Average loans and leases were $15.2 billion at June 30, 2012, an increase of $545.3 million, or 3.7 percent, compared with June 30, 2011, and an increase of $564.5 million, or 3.8 percent, compared with March 31, 2012. The increases from June 30, 2011 and from March 31, 2012 were primarily due to growth in the inventory finance and auto finance portfolios, partially offset by a decrease in the consumer real estate portfolio.  The decreases in the average consumer real estate portfolios reflect a decline in production of new fixed-rate first mortgage loans as market rates available for such loans are not as attractive to TCF.  The increase in average inventory finance portfolios from both the second quarter of 2011 and the first quarter of 2012 was primarily due to the funding of dealers of BRP products.

Credit Quality

·Over 60-day delinquencies decreased from March 31, 2012 and net charge-offs remained under peak 2010 levels, down $15.9 million year-to-date compared with the same 2011 period.  Non-performing assets increased from the first quarter due to increased non-accrual loans, primarily in commercial real estate.

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Credit Quality Summary of Performing and Underperforming Loans and Leases													Table 5
($ in thousands)									60+ Days		Non-accrual
	Performing Loans and Leases(1)							Delinquent and			Loans and		Total Loans
June 30, 2012	Non-classified		Classified(2)			Total			Accruing		Leases		and Leases
Consumer real estate	$	6,547,940	$	22,485		$	6,570,425	$	100,681	$	140,678	$	6,811,784
Commercial		3,070,917		296,322			3,367,239		5,616		150,215		3,523,070
Leasing and equipment finance		3,103,094		15,687			3,118,781		2,895		29,429		3,151,105
Inventory finance		1,446,730		8,427			1,455,157		206		1,900		1,457,263
Auto finance		262,046		-			262,046		142		-		262,188
Other		26,856		-			26,856		34		2,204		29,094
Total loans and leases	$	14,457,583	$	342,921		$	14,800,504	$	109,574	$	324,426	$	15,234,504
Percent of total loans and leases		94.9	%	2.3	%		97.2	%	.7	%	2.1	%	100.0	%
									60+ Days		Non-accrual
	Performing Loans and Leases(1)							Delinquent and			Loans and		Total Loans
March 31, 2012		Non-classified		Classified(2)			Total		Accruing		Leases		and Leases
Consumer real estate	$	6,542,851	$	20,099		$	6,562,950	$	103,655	$	149,304	$	6,815,909
Commercial		3,013,883		314,104			3,327,987		3,425		135,677		3,467,089
Leasing and equipment finance		3,071,833		19,956			3,091,789		6,951		20,015		3,118,755
Inventory finance		1,630,126		6,538			1,636,664		185		1,109		1,637,958
Auto finance		138,879		-			138,879		168		-		139,047
Other		26,288		-			26,288		52		2,838		29,178
Total loans and leases	$	14,423,860	$	360,697		$	14,784,557	$	114,436	$	308,943	$	15,207,936
Percent of total loans and leases		94.8	%	2.4	%		97.2	%	.8	%	2.0	%	100.0	%
									60+ Days		Non-accrual
	Performing Loans and Leases(1)							Delinquent and			Loans and		Total Loans
December 31, 2011		Non-classified		Classified(2)			Total		Accruing		Leases		and Leases
Consumer real estate	$	6,614,679	$	21,606		$	6,636,285	$	109,635	$	149,371	$	6,895,291
Commercial		2,990,515		330,310			3,320,825		1,148		127,519		3,449,492
Leasing and equipment finance		3,093,194		22,227			3,115,421		6,255		20,583		3,142,259
Inventory finance		616,677		7,040			623,717		160		823		624,700
Auto finance		3,231		-			3,231		397		-		3,628
Other		34,829		-			34,829		41		15		34,885
Total loans and leases	$	13,353,125	$	381,183		$	13,734,308	$	117,636	$	298,311	$	14,150,255
Percent of total loans and leases		94.4	%	2.7	%		97.1	%	.8	%	2.1	%	100.0	%
(1) Includes all loans and leases, including TDRs, that are not 60+ days delinquent or on non-accrual status.
(2) Excludes classified loans and leases that are 60+ days delinquent.  Classified loans and leases are those for which management has concerns regarding the borrower's ability to meet the existing terms and conditions, but may never become non-performing or result in a loss.

·Performing loans and leases includes all loans and leases, including TDRs, that are not over 60-days delinquent or on non-accrual status.  Performing loans and leases comprised 97.2 percent of total loans and leases at June 30, 2012, flat compared with March 31, 2012.

·The over 60-day delinquency rate was .73 percent, down from .77 percent at March 31, 2012 and unchanged from June 30, 2011. The decrease from the first quarter of 2012 was primarily due to decreases in leasing and equipment finance and consumer real estate delinquencies.

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·Non-accrual loans and leases were $324.4 million at June 30, 2012, an increase of $15.5 million, or 5 percent, from March 31, 2012 and an increase of $2.7 million, or less than 1 percent, from June 30, 2011. The increase from March 31, 2012 was primarily due to a $15.8 million increase in commercial real estate non-accrual loans and one large non-accrual lease, partially offset by an $8.6 million decrease in consumer real estate non-accrual loans. The slight increase from June 30, 2011 was primarily due to increased commercial real estate non-accrual loans, partially offset by decreases in consumer real estate and commercial business non-accrual loans.  Of the $324.4 million of non-accrual loans and leases at June 30, 2012, 39 percent were less than 60 days past due.

·Other real estate owned was $125.9 million at June 30, 2012, a decrease of $1.3 million from March 31, 2012 and a decrease of $10.6 million from June 30, 2011. The decrease from June 30, 2011 was primarily due to a decrease in the number of consumer properties owned.

·Consumer real estate TDRs include loans where a payment modification (but generally not a reduction of principal) has been granted to a residential real estate customer. Based on clarifying guidance from the Securities and Exchange Commission, beginning in the second quarter of 2012, TCF now classifies trial modifications as TDRs at the beginning of the trial period. Previously, these loans were not classified as TDRs until performance was demonstrated at a reduced payment amount during a short trial period, resulting in a one-time $13.4 million increase of TDRs during the second quarter of 2012. Accruing consumer real estate TDRs totaled $465.6 million at June 30, 2012, and averaged 17 months since modification. These loans had a weighted average yield of 4 percent, and are reserved at an average rate of 14.1 percent. Of the accruing consumer real estate TDRs, 8.13 percent were over 60-days delinquent at June 30, 2012.  Included in the $465.6 million of accruing consumer real estate TDRs at June 30, 2012 are $336.4 million, or 72% of the total, of “non-classified” loans, meaning the loans were current and have not been delinquent for at least six months.

·Commercial TDRs include loans where a payment or other modification (but generally not a reduction of principal) has been granted. Accruing commercial TDRs had a weighted average yield of 5.3 percent.

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Allowance for Loan and Lease Losses
Credit Quality Summary																			Table 6
($ in thousands)										Percent Change
				2Q		1Q		2Q		2Q12 vs		2Q12 vs			YTD		YTD		Percent
Allowance for Loan and Lease Losses				2012		2012		2011		1Q12		2Q11			2012		2011		Change
Balance at beginning of period			$	265,293	$	255,672	$	255,308		3.8	%	3.9	%	$	255,672	$	265,819		(3.8)	%
	Charge-offs			(49,833)		(44,675)		(48,457)		11.6		2.8			(94,509)		(109,561)		(13.7)
	Recoveries			4,974		5,742		4,612		(13.4)		7.8			10,716		9,904		8.2
		Net charge-offs		(44,859)		(38,933)		(43,845)		15.2		2.3			(83,793)		(99,657)		(15.9)
	Provision for credit losses			54,106		48,542		44,005		11.5		23.0			102,648		89,279		15.0
	Other			(379)		12		4		N.M.		NM			(366)		31		N.M.
Balance at end of period			$	274,161	$	265,293	$	255,472		3.3		7.3		$	274,161	$	255,472		7.3
Net charge-offs as a percentage of
average loans and leases(1)
Consumer real estate
		First mortgage lien		1.58	%	1.66	%	1.78	%	(8)	bps	(20)	bps		1.62		1.80		(18)	bps
		Junior lien		3.07		3.03		2.75		4		32			3.05		2.56		49
	Total consumer real estate			2.05		2.09		2.09		(4)		(4)			2.07		2.04		3
Commercial				.97		.18		.30		79		67			.57		1.13		(56)
Leasing and equipment finance				.15		.02		.45		13		(30)			.08		.41		(33)
Inventory finance				.06		.22		.13		(16)		(7)			.13		.12		1
Auto finance				.14		.01		-		13		14			.11		-		11
Other				N.M		N.M		N.M		N.M		N.M			N.M		N.M		N.M
	Total			1.18		1.06		1.19		12		(1)			1.12		1.35		(23)
Allowance as a percentage of period
	end loans and leases			1.80	%	1.74	%	1.75	%						1.80	%	1.75	%
Ratio of allowance to net charge-offs(1)				1.50	X	1.70	X	1.50	X						1.60	X	1.30	X
N.M. = Not meaningful.
(1) Annualized.

·Allowance for loan and lease losses was $274.2 million, or 1.80 percent of loans and leases,  an increase of $8.9 million, compared with $265.3 million, or 1.74 percent, at March 31, 2012 and an increase of $18.7 million, compared with $255.5 million, or 1.75 percent, at June 30, 2011.

·Provision for credit losses was $54.1 million, an increase of $5.6 million from $48.5 million recorded in the first quarter of 2012 and an increase of $10.1 million from $44 million in the second quarter of 2011. The increase from both periods was primarily due to increased provision expense on commercial loans and a $4 million reserve loss on one large lease exposure. The increase from the first quarter of 2012 was partially offset by decreased provision expense in inventory finance due to the first quarter on-boarding of the BRP program and lower seasonal loan balances.

·Net loan and lease charge-offs were $44.9 million, or 1.18 percent, annualized, of average loans and leases, up $6 million from $38.9 million, or 1.06 percent, annualized, in the first quarter of 2012 and up

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$1.1 million from $43.8 million, or 1.19 percent, annualized, in the second quarter of 2011. The increase in net charge-offs from the first quarter of 2012 was primarily due to increased net charge-offs on commercial real estate loans. The increase in net charge-offs from the second quarter of 2011 was primarily due to increased net charge-offs on commercial real estate loans, partially offset by decreased net charge-offs on leasing and equipment finance loans and leases.

Deposits
Average Deposits															Table 7
							Percent Change
($ in thousands)	2Q		1Q		2Q		2Q12 vs		2Q12 vs		YTD		YTD		Percent
	2012		2012		2011		1Q12		2Q11		2012		2011		Change
Checking	$	4,636,701	$	4,565,065	$	4,570,543	1.6	%	1.4	%	$	4,600,882	$	4,536,427	1.4	%
Savings		6,053,264		5,905,118		5,628,249	2.5		7.6			5,979,191		5,536,823	8.0
Money market		748,016		662,493		648,862	12.9		15.3			705,255		661,114	6.7
Subtotal		11,437,981		11,132,676		10,847,654	2.7		5.4			11,285,328		10,734,364	5.1
Certificates		1,608,653		1,135,673		1,092,368	41.6		47.3			1,372,164		1,092,452	25.6
Total deposits	$	13,046,634	$	12,268,349	$	11,940,022	6.3		9.3		$	12,657,492	$	11,826,816	7.0
Average interest rate on deposits(1)		.31%		.30%		.38%						.31%		.40%
(1) Annualized.

·Total average deposits increased $1.1 billion, or 9.3 percent, from the second quarter of 2011 and increased $778.3 million, or 6.3percent, from the first quarter of 2012, primarily due to the assumption of $778 million of deposits from Prudential Bank & Trust, FSB (“PB&T”).  The deposits consist primarily of IRA accounts with certificates of deposit, savings accounts and brokerage sweep accounts gathered by PB&T through its relationship with Prudential Retirement.

·The average interest cost of deposits in the second quarter of 2012 was .31 percent, down 7 basis points from the second quarter of 2011 and basically flat from the first quarter of 2012. The decrease in the average interest cost of deposits from the second quarter of 2011 was primarily due to pricing strategies on certain deposit products, partially offset by higher average interest costs on the PB&T deposits assumed in June 2012.

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Non-interest Expense
Non-interest Expense																Table 8
								Percent Change
($ in thousands)			2Q		1Q		2Q	2Q12 vs		2Q12 vs			YTD		YTD	Percent
			2012		2012		2011	1Q12		2Q11			2012		2011	Change
Compensation and
	employee benefits	$	97,787	$	95,967	$	89,082	1.9	%	9.8	%	$	193,754	$	178,439	8.6	%
Occupancy and equipment			32,731		32,246		30,783	1.5		6.3			64,977		62,942	3.2
FDIC insurance			8,469		6,386		7,542	32.6		12.3			14,855		14,737	.8
Advertising and marketing			5,404		2,617		3,479	106.5		55.3			8,021		6,639	20.8
Deposit account premiums			1,690		5,971		6,166	(71.7)		(72.6)			7,661		9,364	(18.2)
Other			36,956		37,296		37,067	(.9)		(.3)			74,252		71,633	3.7
	Core operating expenses		183,037		180,483		174,119	1.4		5.1			363,520		343,754	5.8
Loss on termination of debt			-		550,735		-	(100.0)		-			550,735		-	N.M.
Foreclosed real estate and
	repossessed assets, net		12,059		11,047		12,617	9.2		(4.4)			23,106		25,485	(9.3)
Operating lease depreciation			6,417		6,731		7,859	(4.7)		(18.3)			13,148		15,787	(16.7)
Other credit costs, net			1,476		(288)		496	N.M.		197.6			1,188		3,044	(61.0)
	Total non-interest expense	$	202,989	$	748,708	$	195,091	(72.9)		4.0		$	951,697	$	388,070	145.2
N.M. = Not meaningful.

·Compensation and employee benefits expense increased $8.7 million, or 9.8 percent, from the second quarter of 2011 and increased $1.8 million, or 1.9 percent, from the first quarter of 2012. The increase from the second quarter of 2011 was primarily due to Gateway One, acquired in November 2011, as well as increased staffing levels to support the increased assets of the BRP program in Inventory Finance. The increase from the first quarter of 2012 was primarily due to higher salary expense in the auto finance business as it ramps up capacity to originate and service higher loan volumes, increased lending staff across all businesses and an increase in medical plan expenses, partially offset by the seasonal decrease in payroll taxes.

·FDIC insurance expense increased $927 thousand, or 12.3 percent, from the second quarter of 2011 and increased $2.1 million, or 32.6 percent, from the first quarter of 2012. These increases were primarily due to increased insurance rates as a result of the net loss associated with the balance sheet repositioning completed in the first quarter of 2012.

·Foreclosed real estate and repossessed asset expense decreased $558 thousand, or 4.4 percent, from the second quarter of 2011 and increased $1 million, or 9.2 percent, from the first quarter of 2012. The decrease from the second quarter of 2011 was primarily due to fewer consumer real estate properties

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owned. The increase from the first quarter of 2012 was primarily due to increased write-downs on commercial real estate properties owned.

Capital and Borrowing Capacity
Capital Information									Table 9
At period end
($ in thousands, except per-share data)		2Q					4Q
		2012					2011
Total equity	$	1,755,908				$	1,878,627
Total equity to total assets		9.83	%				9.90	%
Book value per common share	$	9.67				$	11.65
Tangible realized common equity to tangible assets(1)		7.50	%				8.42	%
Risk-based capital
Tier 1	$	1,508,176		10.53	%	$	1,706,926		12.67	%
Total(2)		1,877,714		13.11			1,994,875		14.80
Tier 1 leverage capital	$	1,508,176		8.64	%	$	1,706,926		9.15	%
Tier 1 common capital(3)	$	1,326,518		9.26	%	$	1,581,432		11.74	%
(1) Excludes the impact of goodwill, other intangibles and accumulated other comprehensive income (loss) (see
“Reconciliation of GAAP to Non-GAAP Measures” table).
(2) The Company's capital ratios continue to be in excess of "Well-capitalized" regulatory benchmarks.
(3) Excludes the effect of qualifying trust preferred securities and qualifying non-controlling interest in subsidiaries (see
“Reconciliation of GAAP to Non-GAAP Measures” table).

·During the second quarter of 2012, TCF issued $172.5 million of 7.50 percent Series A Non-Cumulative Perpetual Preferred Stock, par value $.01 per share. The preferred stock qualifies as Tier 1 capital.

·On June 25, 2012, TCF announced that it will fully redeem $115 million of 10.75 percent trust preferred securities on July 30, 2012.  As a result, the trust preferred securities are no longer included within the computation of Tier 1 capital.

·Also during the second quarter of 2012, TCF National Bank issued $110 million of subordinated notes.  The notes are due June 8, 2022 and bear interest at a fixed rate of 6.25% until maturity, and qualify as Tier 2 capital.

·On July 18, 2012, the Board of Directors of TCF declared a regular quarterly cash dividend of 5 cents per common share payable on August 31, 2012 to stockholders of record at the close of business on August 15, 2012 and a dividend on the 7.50 percent Series A Non-cumulative Perpetual Preferred Stock payable on September 4, 2012 to stockholders of record at the close of business on August 15, 2012.

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·At June 30, 2012, TCF had $2.7 billion in unused, secured borrowing capacity at the FHLB of Des Moines, $525 million in unused, secured borrowing capacity at the Federal Reserve Discount Window and $532 million in unused borrowing capacity under existing federal funds lines.

Website Information

     A live webcast of TCF’s conference call to discuss the second quarter earnings will be hosted at TCF’s website, http://ir.tcfbank.com, on July 19, 2012 at 10:00 a.m. CT.  Additionally, the webcast will be 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, investor presentations and SEC filings.

____________________________________________________________________________________

TCF is a Wayzata, Minnesota-based national bank holding company with $17.9 billion in total assets at June 30, 2012. TCF has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing and equipment finance business and leverage lending in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states. For more information about TCF, please visit http://ir.tcfbank.com. 

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Cautionary Statements for Purposes of the Safe Harbor Provisions of the Securities Litigation Reform Act

Any statements contained in this earnings release regarding the outlook for the Company’s businesses and their respective markets, such as projections of future performance, guidance, statements of the Company’s plans and objectives, forecasts of market trends and other matters, are forward-looking statements based on the Company’s assumptions and beliefs. Such statements may be identified by such words or phrases as “will likely result,” “are expected to,” “will continue,” “outlook,” “will benefit,” “is anticipated,” “estimate,” “project,” “management believes” or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in such statements and no assurance can be given that the results in any forward-looking statement will be achieved. For these statements, TCF claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to subsequently revise any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of anticipated or unanticipated events.

Certain factors could cause the Company’s future results to differ materially from those expressed or implied in any forward-looking statements contained in this release.  These factors include the factors discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 under the heading “Risk Factors,” the factors discussed below and any other cautionary statements, written or oral, which may be made or referred to in connection with any such forward-looking statements. Since it is not possible to foresee all such factors, these factors should not be considered as complete or exhaustive.

Adverse Economic or Business Conditions, Credit and Other RisksDeterioration in general economic and banking industry conditions, including defaults, anticipated defaults or rating agency downgrades of sovereign debt (including debt of the U.S.), or continued high rates of or 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 quality and other risks posed by TCF’s loan, lease, investment and securities available for sale portfolios, including 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; interest rate risks resulting from fluctuations in prevailing interest rates or other factors that result in a mismatch between yields earned on TCF’s interest-earning assets and the rates paid on its deposits and borrowings; foreign currency exchange risks; counterparty risk, including the risk of defaults by our counterparties or diminished availability of counterparties who satisfy our credit quality requirements; decreases in demand for the types of equipment that TCF leases or finances; limitations on TCF’s ability to attract and retain manufacturers and dealers to expand the inventory finance business.

Legislative and Regulatory RequirementsNew consumer protection and supervisory requirements and regulations, including those resulting from action by the CFPB and changes in the scope of Federal preemption of 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  Dodd-Frank Act, or other legislative or regulatory developments such as mortgage foreclosure moratorium laws or imposition of underwriting or other limitations that impact the ability to use certain variable-rate products; 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; deficiencies in TCF’s compliance under the Bank Secrecy Act in past or future periods, which may result in regulatory enforcement action including monetary penalties; increased health care costs resulting from Federal health care reform legislation; adverse regulatory examinations and resulting enforcement actions or other adverse consequences such as increased capital requirements or higher deposit insurance assessments; heightened regulatory practices, requirements or expectations, including, but not limited to, requirements related to the Bank Secrecy Act and anti-money laundering compliance activity.

Earnings/Capital Risks and Constraints, Liquidity RisksLimitations on TCF’s ability to pay dividends or to increase dividends because of financial performance deterioration, regulatory restrictions or limitations; increased deposit insurance premiums, special assessments or other costs related to adverse conditions in the banking industry, the economic impact on banks of the Dodd-Frank Act and other regulatory reform legislation; the impact of financial regulatory reform, including the phase out of trust preferred securities in tier 1 capital called for by the Dodd-Frank Act, or additional capital, leverage, liquidity and risk management requirements or changes in the composition of qualifying regulatory capital (including those resulting from U.S. implementation of Basel III requirements); adverse changes in

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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; costs associated with new regulatory requirements or interpretive guidance relating to liquidity; uncertainties relating to customer opt-in preferences with respect to overdraft fees on point of sale and ATM transactions or the success of TCF’s reintroduction of the Free Checking product which may have an adverse impact on TCF’s fee revenue; uncertainties relating to future retail deposit account changes, including limitations on TCF’s ability to predict customer behavior and the impact on TCF’s fee revenues.

Competitive Conditions; Supermarket Branching Risk; Growth RisksReduced 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 including the announcement on July 11, 2012 by SuperValu that it is exploring strategic alternatives; customers completing financial transactions without using a bank; the effect of any negative publicity; slower than anticipated growth in existing or acquired businesses; inability to successfully execute on TCF’s growth strategy through acquisitions or cross-selling opportunities; failure to expand or diversify our balance sheet through programs or new opportunities; failure to successfully attract and retain new customers;product additions and addition of distribution channels (or entry into new markets) for existing products.

Technological and Operational MattersTechnological or operational difficulties, loss or theft of information, counterparty failures and the possibility that deposit account losses (fraudulent checks, etc.) may increase; failure to keep pace with technological change.

Litigation RisksResults of litigation, including class action litigation concerning TCF’s lending or deposit activities including account servicing processes or fees or charges, or employment practices, and possible increases in financial obligations for certain litigation against Visa U.S.A. and potential reductions in card revenues resulting from such litigation or other litigation against Visa.

Accounting, Audit, Tax and Insurance Matters  Changes in accounting standards or interpretations of existing standards; federal or state monetary, fiscal or tax policies, including adoption of state legislation that would increase state taxes; ineffective internal controls; adverse state or Federal tax assessments or findings in tax audits; lack of or inadequate insurance coverage for claims against TCF; potential for claims and legal action related to TCF’s fiduciary responsibilities.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in thousands, except per-share data)
(Unaudited)
					Three Months Ended June 30,				Change
					2012		2011		$	%
Interest income:
	Loans and leases			$	208,766	$	213,823	$	(5,057)	(2.4)	%
	Securities available for sale				5,816		20,639		(14,823)	(71.8)
	Investments and other				3,633		1,836		1,797	97.9
		Total interest income			218,215		236,298		(18,083)	(7.7)
Interest expense:
	Deposits				10,197		11,430		(1,233)	(10.8)
	Borrowings				9,794		48,718		(38,924)	(79.9)
		Total interest expense			19,991		60,148		(40,157)	(66.8)
			Net interest income		198,224		176,150		22,074	12.5
Provision for credit losses					54,106		44,005		10,101	23.0
		Net interest income after provision for
			credit losses		144,118		132,145		11,973	9.1
Non-interest income:
	Fees and service charges				48,090		56,396		(8,306)	(14.7)
	Card revenue				13,530		28,219		(14,689)	(52.1)
	ATM revenue				6,276		7,091		(815)	(11.5)
		Subtotal			67,896		91,706		(23,810)	(26.0)
	Leasing and equipment finance				23,207		22,279		928	4.2
	Gains on sales of auto loans				5,496		-		5,496	N.M.
	Other				3,168		384		2,784	N.M.
		Fees and other revenue			99,767		114,369		(14,602)	(12.8)
	Gains (losses) on securities, net				13,116		(227)		13,343	N.M.
		Total non-interest income			112,883		114,142		(1,259)	(1.1)
Non-interest expense:
	Compensation and employee benefits				97,787		89,082		8,705	9.8
	Occupancy and equipment				32,731		30,783		1,948	6.3
	FDIC insurance				8,469		7,542		927	12.3
	Advertising and marketing				5,404		3,479		1,925	55.3
	Deposit account premiums				1,690		6,166		(4,476)	(72.6)
	Other				36,956		37,067		(111)	(.3)
		Subtotal			183,037		174,119		8,918	5.1
	Loss on termination of debt				-		-		-	-
	Foreclosed real estate and repossessed assets, net				12,059		12,617		(558)	(4.4)
	Operating lease depreciation				6,417		7,859		(1,442)	(18.3)
	Other credit costs, net				1,476		496		980	197.6
		Total non-interest expense			202,989		195,091		7,898	4.0
			Income before income tax expense		54,012		51,196		2,816	5.5
Income tax expense					20,542		19,086		1,456	7.6
			Income after income tax expense		33,470		32,110		1,360	4.2
	Income attributable to non-controlling interest				1,939		1,686		253	15.0
Net income available to common stockholders				$	31,531	$	30,424	$	1,107	3.6
Other comprehensive income:
	Unrealized holding gains arising during the
		period on securities available for sale			19,868		31,084		(11,216)	(36.1)
	Foreign currency hedge				268		(93)		361	N.M.
	Foreign currency translation adjustment				(324)		120		(444)	N.M.
	Recognized postretirement prior service cost
		and transition obligation			(7)		1		(8)	N.M.
	Income tax expense				(7,375)		(11,362)		3,987	(35.1)
		Total other comprehensive income			12,430		19,750		(7,320)	(37.1)
Comprehensive income				$	43,961	$	50,174	$	(6,213)	(12.4)
Net income per common share:
	Basic			$	.20	$	.19	$	.01	5.3
	Diluted				.20		.19		.01	5.3
Dividends declared per common share				$	.05	$	.05	$	-	-
Average common and common equivalent
	shares outstanding (in thousands):
		Basic			159,113		157,064		2,048	1.3
		Diluted			159,539		157,463		2,077	1.3
N.M.  Not meaningful.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Dollars in thousands, except per-share data)
(Unaudited)
					Six Months Ended June 30,				Change
					2012		2011		$	%
Interest income:
	Loans and leases			$	414,750	$	428,496	$	(13,746)	(3.2)	%
	Securities available for sale				24,928		40,068		(15,140)	(37.8)
	Investments and other				6,066		3,637		2,429	138.6
		Total interest income			445,744		472,201		(26,457)	(5.6)
Interest expense:
	Deposits				19,258		23,434		(4,176)	(17.8)
	Borrowings				48,089		98,577		(50,488)	(51.2)
		Total interest expense			67,347		122,011		(54,664)	(44.8)
			Net interest income		378,397		350,190		28,207	8.1
Provision for credit losses					102,648		89,279		13,369	15.0
		Net interest income after provision for
			credit losses		275,749		260,911		14,838	5.7
Non-interest income:
	Fees and service charges				89,946		109,909		(19,963)	(18.2)
	Card revenue				26,737		54,803		(28,066)	(51.2)
	ATM revenue				12,475		13,796		(1,321)	(9.6)
		Subtotal			129,158		178,508		(49,350)	(27.6)
	Leasing and equipment finance				46,074		49,029		(2,955)	(6.0)
	Gains on sales of auto loans				7,746		-		(40,114)	(17.5)
	Other				5,523		1,078		7,746	100.0
		Fees and other revenue			188,501		228,615		(84,673)	(37.0)
	Gains (losses) on securities, net				89,727		(227)		-	-
		Total non-interest income			278,228		228,388		89,954	-
Non-interest expense:
	Compensation and employee benefits				193,754		178,439		-	-
	Occupancy and equipment				64,977		62,942		15,315	8.6
	FDIC insurance				14,855		14,737		2,035	3.2
	Advertising and marketing				8,021		6,639		(1,703)	(18.2)
	Deposit account premiums				7,661		9,364		118	0.8
	Other				74,252		71,633		1,382	20.8
		Subtotal			363,520		343,754		2,619	3.7
	Loss on termination of debt				550,735		-		(1,856)	(61.0)
	Foreclosed real estate and repossessed assets, net				23,106		25,485		19,766	5.8
	Operating lease depreciation				13,148		15,787		(2,379)	(9.3)
	Other credit costs, net				1,188		3,044		(2,639)	(16.7)
		Total non-interest expense			951,697		388,070		550,735	100.0
			(Loss) income before income tax expense		(397,720)		101,229		563,627	145.2
Income tax (benefit) expense					(149,702)		37,858		(498,949)	-
			(Loss) income after income tax expense		(248,018)		63,371		(187,560)	-
	Income attributable to non-controlling interest				3,345		2,675		(311,389)	-
Net (loss) income available to common stockholders				$	(251,363)	$	60,696	$	670	25.0
Other comprehensive (loss) income:
	Reclassification adjustment for securities gains
		included in net income			(76,967)		-		(76,967)	N.M.
	Unrealized holding gains arising during the
		period on securities available for sale			12,100		10,014		2,086	20.8
	Foreign currency hedge				(136)		(600)		464	(77.3)
	Foreign currency translation adjustment				61		534		(473)	(88.6)
	Recognized postretirement actuarial service cost
		and transition obligation			(14)		2		(16)	N.M.
	Income tax benefit (expense)				23,833		(3,458)		27,291	N.M.
		Total other comprehensive (loss) income			(41,123)		6,492		(47,615)	N.M.
Comprehensive (loss) income				$	(292,486)	$	67,188	$	(359,674)	N.M.
Net income per common share:
	Basic			$	(1.58)	$	.40	$	(1.98)	N.M.
	Diluted				(1.58)		.40		(1.98)	N.M.
Dividends declared per common share				$	.10	$	.10	$	-	-
Average common and common equivalent
	shares outstanding (in thousands):
		Basic			158,810		150,765		8,045	5.3
		Diluted			158,810		151,136		7,673	5.1
N.M.  Not meaningful.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands, except per-share data)
(Unaudited)
					At Jun. 30		At Dec. 31		Change
					2012		2011		$	%
ASSETS
Cash and due from banks				$	865,257	$	1,389,704	$	(524,447)	(37.7)	%
Investments					120,814		157,780		(36,966)	(23.4)
Securities available for sale					757,233		2,324,038		(1,566,805)	(67.4)
Loans and leases held for sale					9,664		14,321		(4,657)	(32.5)
Loans and leases:
	Consumer real estate				6,811,784		6,895,291		(83,507)	(1.2)
	Commercial				3,523,070		3,449,492		73,578	2.1
	Leasing and equipment finance				3,151,105		3,142,259		8,846	.3
	Inventory finance				1,457,263		624,700		832,563	N.M.
	Auto finance				262,188		3,628		258,560	N.M.
	Other				29,094		34,885		(5,791)	(16.6)
		Total loans and leases			15,234,504		14,150,255		1,084,249	7.7
	Allowance for loan and lease losses				(274,161)		(255,672)		(18,489)	7.2
		Net loans and leases			14,960,343		13,894,583		1,065,760	7.7
Premises and equipment, net					442,311		436,281		6,030	1.4
Goodwill					225,640		225,640		-	-
Other assets					489,335		537,041		(47,706)	(8.9)
	Total assets			$	17,870,597	$	18,979,388	$	(1,108,791)	(5.8)
LIABILITIES AND EQUITY
Deposits:
	Checking			$	4,701,917	$	4,629,749	$	72,168	1.6
	Savings				6,227,133		5,855,263		371,870	6.4
	Money market				880,545		651,377		229,168	35.2
		Subtotal			11,809,595		11,136,389		673,206	6.0
	Certificates of deposit				1,894,711		1,065,615		829,096	77.8
		Total deposits			13,704,306		12,202,004		1,502,302	12.3
Short-term borrowings					7,487		6,416		1,071	16.7
Long-term borrowings					2,075,923		4,381,664		(2,305,741)	(52.6)
		Total borrowings			2,083,410		4,388,080		(2,304,670)	(52.5)
Accrued expenses and other liabilities					326,973		510,677		(183,704)	(36.0)
		Total liabilities			16,114,689		17,100,761	$	(986,072)	(5.8)
Equity:
	Preferred stock, par value $.01 per share,
		30,000,000 authorized; and 6,900 shares issued			166,721		-		166,721	N.M.
	Common stock, par value $.01 per share,
		280,000,000 shares authorized; 162,790,655
		and 160,366,380 shares issued			1,628		1,604		24	1.5
	Additional paid-in capital				738,437		715,247		23,190	3.2
	Retained earnings, subject to certain restrictions				860,560		1,127,823		(267,263)	(23.7)
	Accumulated other comprehensive income				15,703		56,826		(41,123)	(72.4)
	Treasury stock at cost, 42,566 shares, and other				(42,078)		(33,367)		(8,711)	26.1
			Total TCF Financial Corp. stockholders' equity		1,740,971		1,868,133		(127,162)	(6.8)
	Non-controlling interest in subsidiaries				14,937		10,494		4,443	42.3
			Total equity		1,755,908		1,878,627		(122,719)	(6.5)
			Total liabilities and equity	$	17,870,597	$	18,979,388		(1,108,791)	(5.8)
N.M.  Not meaningful.

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20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
SUMMARY OF CREDIT QUALITY DATA
(Dollars in thousands)
(Unaudited)
						At			At			At			At			At			Change from
						Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Jun. 30,
						2012			2012			2011			2011			2011			2012			2011
Delinquency Data - Principal Balances(1)
60 days or more:
Consumer real estate
	First mortgage lien				$	86,714		$	88,092		$	87,358		$	78,241		$	74,090		$	(1,378)		$	12,624
	Junior lien					13,967			15,563			22,277			18,499			17,780			(1,596)			(3,813)
		Total consumer real estate				100,681			103,655			109,635			96,740			91,870			(2,974)			8,811
Commercial						5,616			3,425			1,148			3,079			6,238			2,191			(622)
Leasing and equipment finance						1,492			4,919			3,512			2,840			2,447			(3,427)			(955)
Inventory finance						206			185			160			306			145			21			61
Auto finance						62			2			-			-			-			60			62
Other						34			52			41			58			171			(18)			(137)
	Subtotal					108,091			112,238			114,496			103,023			100,871			(4,147)			7,220
Acquired portfolios						1,483			2,198			3,140			1,870			2,993			(715)			(1,510)
	Total delinquencies				$	109,574		$	114,436		$	117,636		$	104,893		$	103,864		$	(4,862)		$	5,710
Delinquency Data - % of Portfolio(1)
60 days or more:
Consumer real estate
	First mortgage lien					1.93	%		1.93	%		1.89	%		1.68	%		1.58	%		-	bps		35	bps
	Junior lien					.64			.74			1.04			.86			.82			(10)			(18)
		Total consumer real estate				1.51			1.55			1.63			1.42			1.34			(4)			17
Commercial						.17			.10			.03			.09			.18			7			(1)
Leasing and equipment finance						.05			.17			.13			.11			.09			(12)			(4)
Inventory finance						.01			.01			.03			.04			.02			-			(1)
Auto finance						.02			-			-			-			-			2			2
Other						.13			.20			.12			.18			.46			(7)			(33)
	Subtotal					.74			.77			.85			.75			.73			(3)			1
Acquired portfolios						.58			.66			.84			.51			.70			(8)			(12)
	Total delinquencies					.73			.77			.85			.75			.73			(4)			-
(1) Excludes non-accrual loans and leases.
						At			At			At			At			At			Change from
						Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Jun. 30,
						2012			2012			2011			2011			2011			2012			2011
Non-Accrual Loans and Leases
	Non-accrual loans and leases:
		Consumer real estate
			First mortgage lien		$	122,406		$	125,895			129,114			130,671			129,837		$	(3,489)		$	(7,431)
			Junior lien			18,272			23,409			20,257			18,223			21,069			(5,137)			(2,797)
				Total consumer real estate		140,678			149,304			149,371			148,894			150,906			(8,626)			(10,228)
		Commercial				150,215			135,677			127,519			133,260			140,407			14,538			9,808
		Leasing and equipment finance				29,429			20,015			20,583			24,437			29,682			9,414			(253)
		Inventory finance				1,900			1,109			823			1,077			634			791			1,266
		Other				2,204			2,838			15			4			32			(634)			2,172
			Total non-accrual loans and leases		$	324,426		$	308,943			298,311			307,672			321,661		$	15,483		$	2,765
	Non-accrual loans and leases - rollforward
		Balance, beginning of period			$	308,943		$	298,311		$	307,672		$	321,661		$	319,049		$	10,632		$	(10,106)
			Additions			111,739			85,670			125,893			80,014			86,996			26,069			24,743
			Charge-offs			(28,228)			(19,683)			(38,263)			(29,338)			(22,401)			(8,545)			(5,827)
			Transfers to other assets			(34,473)			(25,603)			(31,486)			(21,654)			(27,078)			(8,870)			(7,395)
			Return to accrual status			(22,200)			(21,243)			(19,932)			(20,272)			(21,985)			(957)			(215)
			Payments received			(12,261)			(9,202)			(45,238)			(23,843)			(14,383)			(3,059)			2,122
			Other, net			906			693			(335)			1,104			1,463			213			(557)
		Balance, end of period			$	324,426		$	308,943		$	298,311		$	307,672		$	321,661		$	15,483		$	2,765

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21

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
SUMMARY OF CREDIT QUALITY DATA, CONTINUED
(Dollars in thousands)
(Unaudited)
															Change from
					Jun 30,		Mar 31,		Dec 31,		Sep 30,		Jun 30,		Mar 31,		Jun 30,
					2012		2012		2011		2011		2011		2012		2011
Other Real Estate Owned
	Other real estate owned(1)
		Consumer real estate		$	83,176	$	84,996	$	87,792	$	88,206	$	94,311	$	(1,820)	$	(11,135)
		Commercial real estate			42,700		42,232		47,106		42,207		42,188		468		512
			Total other real estate owned	$	125,876	$	127,228	$	134,898	$	130,413	$	136,499	$	(1,352)	$	(10,623)
	Other real estate owned - rollforward
		Balance, beginning of period		$	127,228	$	134,898	$	130,413	$	136,499	$	142,154	$	(7,670)	$	(14,926)
			Transferred in		33,739		25,624		33,864		24,939		27,649		8,115		6,090
			Sales		(29,448)		(28,601)		(25,909)		(26,095)		(28,759)		(847)		(689)
			Writedowns		(6,237)		(5,267)		(5,719)		(6,337)		(6,741)		(970)		504
			Other, net		594		574		2,249		1,407		2,196		20		(1,602)
		Balance, end of period		$	125,876	$	127,228	$	134,898	$	130,413	$	136,499	$	(1,352)	$	(10,623)
	Ending number of properties owned
		Consumer real estate			426		466		465		456		488		(40)		(62)
		Commercial real estate			32		32		33		33		26		-		6
			Total		458		498		498		489		514		(40)		(56)
(1) Includes properties owned and foreclosed properties subject to redemption.

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22

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
SUMMARY OF CREDIT QUALITY DATA, CONTINUED
(Dollars in thousands)
(Unaudited)
Allowance for Loan and Lease Losses
					At June 30, 2012				At March 31, 2012					At June 30, 2011				Change from
						% of					% of					% of		Mar. 31,		Jun. 30,
					Balance	Portfolio			Balance		Portfolio			Balance		Portfolio		2012		2011
	Consumer real estate			$	188,087	2.76	%	$	183,825		2.70	%	$	175,716		2.50	%	6	bps	26	bps
	Commercial				50,699	1.44			50,444		1.45			50,783		1.41		(1)		3
	Leasing and
		equipment finance			25,450	.81			21,537		.69			24,611		.81		12		-
	Inventory finance				7,072	.49			7,556		.46			2,941		.32		3		17
	Auto finance				1,951	.74			1,019		.73			-		-		1		N.M.
	Other				902	3.10			912		3.13			1,421		3.79		(3)		(69)
		Total		$	274,161	1.80		$	265,293		1.74		$	255,472		1.75		6		5
Net Charge-Offs as a Percentage of Average Loans and Leases
																		Change from
						Quarter Ended(1)												Quarter Ended
						Jun. 30,			Mar. 31,		Dec. 31,			Sep. 30,		Jun. 30,		Mar. 31,		Jun. 30,
						2012			2012		2011			2011		2011		2012		2011
	Consumer real estate
		First mortgage lien				1.58	%		1.66	%	1.94	%		2.29	%	1.78	%	(8)	bps	(20)	bps
		Junior lien				3.07			3.03		2.63			2.99		2.75		4		32
			Total consumer real estate			2.05			2.09		2.15			2.51		2.09		(4)		(4)
	Commercial					.97			.18		1.79			.57		.30		79		67
	Leasing and equipment finance					.15			.02		.46			.36		.45		13		(30)
	Inventory finance					.06			.22		.03			.13		.13		(16)		(7)
	Auto finance					.14			.01		-			-		-		13		N.M.
	Other					N.M.			N.M.		N.M.			N.M.		N.M.		N.M.		N.M.
		Total				1.18			1.06		1.63			1.48		1.19		12		(1)
(1)  Annualized.
N.M. Not Meaningful.

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23

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES
(Dollars in thousands)
(Unaudited)
						Three Months Ended June 30,
						2012						2011
						Average			Yields and			Average			Yields and
						Balance		Interest	Rates(1) (2)			Balance		Interest	Rates(1) (2)
ASSETS:
Investments and other					$	430,084	$	2,654	2.48	%	$	693,678	$	1,836	1.06	%
U.S. Government sponsored entities:
	Mortgage-backed securities, fixed-rate					733,796		5,813	3.17			2,104,294		20,614	3.92
U.S. Treasury securities						-		-	-			135,613		20	.06
Other securities						225		3	4.14			353		5	5.68
			Total securities available for sale(3)			734,021		5,816	3.17			2,240,260		20,639	3.69
Loans and leases held for sale						44,788		979	8.80			-		-	-
Loans and leases:
	Consumer real estate:
		Fixed-rate				4,365,670		63,432	5.84			4,655,198		70,615	6.08
		Variable-rate				2,427,745		30,202	5.00			2,379,250		30,566	5.15
			Total consumer real estate			6,793,415		93,634	5.54			7,034,448		101,181	5.77
	Commercial:
		Fixed- and adjustable-rate				2,730,085		37,242	5.49			2,877,903		41,442	5.78
		Variable-rate				761,964		7,550	3.99			719,741		7,757	4.32
			Total commercial			3,492,049		44,792	5.16			3,597,644		49,199	5.49
	Leasing and equipment finance					3,145,914		43,109	5.48			3,068,550		46,184	6.02
	Inventory finance					1,571,004		23,690	6.07			978,505		17,340	7.11
	Auto finance					223,893		3,835	6.89			-		-	-
	Other					17,647		336	7.66			19,463		437	9.01
		Total loans and leases				15,243,922		209,396	5.52			14,698,610		214,341	5.85
			Total interest-earning assets			16,452,815		218,845	5.34			17,632,548		236,816	5.38
Other assets						1,202,003						1,163,783
	Total assets				$	17,654,818					$	18,796,331
LIABILITIES AND EQUITY:
Non-interest bearing deposits:
	Retail				$	1,316,767					$	1,475,191
	Small business					725,052						683,323
	Commercial and custodial					310,321						278,808
		Total non-interest bearing deposits				2,352,140						2,437,322
Interest-bearing deposits:
	Checking					2,306,810		883	.15			2,152,646		1,221	.23
	Savings					6,031,015		5,164	.34			5,608,824		7,279	.52
	Money market					748,016		718	.39			648,862		731	.45
		Subtotal				9,085,841		6,765	.30			8,410,332		9,231	.44
	Certificates of deposit					1,608,653		3,432	.86			1,092,368		2,199	.82
		Total interest-bearing deposits				10,694,494		10,197	.38			9,502,700		11,430	.48
			Total deposits			13,046,634		10,197	.31			11,940,022		11,430	.38
Borrowings:
	Short-term borrowings					705,888		535	.30			35,227		21	.24
	Long-term borrowings					1,986,182		9,259	1.87			4,513,301		48,697	4.33
			Total borrowings			2,692,070		9,794	1.46			4,548,528		48,718	4.29
				Total interest-bearing liabilities		13,386,564		19,991	.60			14,051,228		60,148	1.72
			Total deposits and borrowings			15,738,704		19,991	.51			16,488,550		60,148	1.46
Other liabilities						335,113						556,641
	Total liabilities					16,073,817						17,045,191
Total TCF Financial Corp. stockholders' equity						1,563,158						1,739,523
Non-controlling interest in subsidiaries						17,843						11,617
	Total equity					1,581,001						1,751,140
		Total liabilities and equity			$	17,654,818					$	18,796,331
Net interest income and margin							$	198,854	4.86	%			$	176,668	4.02	%
(1)  Annualized.
(2)  Interest and yields are presented on a fully tax equivalent basis.
(3)  Average balances and yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

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24

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES
(Dollars in thousands)
(Unaudited)
						Six Months Ended June 30,
						2012						2011
						Average			Yields and			Average			Yields and
						Balance		Interest	Rates(1) (2)			Balance		Interest	Rates(1) (2)
ASSETS:
Investments and other					$	587,802	$	5,042	1.72	%	$	636,190	$	3,637	1.15	%
U.S. Government sponsored entities:
	Mortgage-backed securities, fixed-rate					1,410,407		24,924	3.53			2,033,159		40,025	3.94
U.S. Treasury securities						-		-	-			91,685		33	.07
Other securities						227		4	4.13			370		10	5.44
			Total securities available for sale(3)			1,410,634		24,928	3.53			2,125,214		40,068	3.77
Loans and leases held for sale						25,330		1,024	8.13			-		-	-
Loans and leases:
	Consumer real estate:
		Fixed-rate				4,404,410		129,584	5.92			4,694,690		142,421	6.12
		Variable-rate				2,414,829		60,270	5.02			2,373,328		60,846	5.17
			Total consumer real estate			6,819,239		189,854	5.60			7,068,018		203,267	5.80
	Commercial:
		Fixed- and adjustable-rate				2,733,967		75,452	5.55			2,895,151		83,484	5.81
		Variable-rate				740,918		15,062	4.09			715,330		15,414	4.35
			Total commercial			3,474,885		90,514	5.24			3,610,481		98,898	5.52
	Leasing and equipment finance					3,137,122		87,109	5.55			3,093,969		93,741	6.06
	Inventory finance					1,353,469		42,416	6.30			925,913		32,665	7.11
	Auto finance					154,728		5,418	7.04			-		-	-
	Other					17,612		705	8.04			20,603		913	8.94
		Total loans and leases				14,957,055		416,016	5.59			14,718,984		429,484	5.87
			Total interest-earning assets			16,980,821		447,010	5.29			17,480,388		473,189	5.45
Other assets						1,290,585						1,158,886
	Total assets				$	18,271,406					$	18,639,274
LIABILITIES AND EQUITY:
Non-interest bearing deposits:
	Retail				$	1,338,539					$	1,466,507
	Small business					716,734						675,861
	Commercial and custodial					307,427						285,125
		Total non-interest bearing deposits				2,362,700						2,427,493
Interest-bearing deposits:
	Checking					2,260,499		1,785	.16			2,128,673		2,577	.24
	Savings					5,956,874		10,602	.36			5,517,084		14,776	.54
	Money market					705,255		1,328	.38			661,114		1,639	.50
		Subtotal				8,922,628		13,715	.31			8,306,871		18,992	.46
	Certificates of deposit					1,372,164		5,543	.81			1,092,452		4,442	.82
		Total interest-bearing deposits				10,294,792		19,258	.38			9,399,323		23,434	.50
			Total deposits			12,657,492		19,258	.31			11,826,816		23,434	.40
Borrowings:
	Short-term borrowings					571,019		865	.30			59,000		113	.39
	Long-term borrowings					2,901,673		47,224	3.27			4,607,492		98,464	4.30
			Total borrowings			3,472,692		48,089	2.78			4,666,492		98,577	4.25
				Total interest-bearing liabilities		13,767,484		67,347	.98			14,065,815		122,011	1.75
			Total deposits and borrowings			16,130,184		67,347	.84			16,493,308		122,011	1.49
Other liabilities						435,210						508,983
	Total liabilities					16,565,394						17,002,291
Total TCF Financial Corp. stockholders' equity						1,690,337						1,627,238
Non-controlling interest in subsidiaries						15,675						9,745
	Total equity					1,706,012						1,636,983
		Total liabilities and equity			$	18,271,406					$	18,639,274
Net interest income and margin							$	379,663	4.49	%			$	351,178	4.04	%
(1)  Annualized.
(2)  Interest and yields are presented on a fully tax equivalent basis.
(3)  Average balances and yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

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25

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY STATEMENTS OF COMPREHENSIVE INCOME AND FINANCIAL HIGHLIGHTS
(Dollars in thousands, except per-share data)
(Unaudited)
					At or For the Three Months Ended
					Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,
					2012			2012			2011			2011			2011
Interest income:
	Loans and leases			$	208,766		$	205,984		$	205,415		$	210,885		$	213,823
	Securities available for sale				5,816			19,112			22,559			22,561			20,639
	Investments and other				3,633			2,433			2,333			1,997			1,836
		Total interest income			218,215			227,529			230,307			235,443			236,298
Interest expense:
	Deposits				10,197			9,061			9,791			11,883			11,430
	Borrowings				9,794			38,295			47,082			47,496			48,718
		Total interest expense			19,991			47,356			56,873			59,379			60,148
			Net interest income		198,224			180,173			173,434			176,064			176,150
Provision for credit losses					54,106			48,542			59,249			52,315			44,005
		Net interest income after provision for
			credit losses		144,118			131,631			114,185			123,749			132,145
Non-interest income:
	Fees and service charges				48,090			41,856			51,002			58,452			56,396
	Card revenue				13,530			13,207			13,643			27,701			28,219
	ATM revenue				6,276			6,199			6,608			7,523			7,091
		Subtotal			67,896			61,262			71,253			93,676			91,706
	Leasing and equipment finance				23,207			22,867			18,492			21,646			22,279
	Gains on sales of auto loans				5,496			2,250			1,133			-			-
	Other				3,168			2,355			1,570			786			384
		Fees and other revenue			99,767			88,734			92,448			116,108			114,369
	Gains (losses) on securities, net				13,116			76,611			5,842			1,648			(227)
		Total non-interest income			112,883			165,345			98,290			117,756			114,142
Non-interest expense:
	Compensation and employee benefits				97,787			95,967			82,595			87,758			89,082
	Occupancy and equipment				32,731			32,246			32,366			31,129			30,783
	FDIC insurance				8,469			6,386			6,647			7,363			7,542
	Advertising and marketing				5,404			2,617			2,250			1,145			3,479
	Deposit account premiums				1,690			5,971			6,482			7,045			6,166
	Other				36,956			37,296			39,148			34,708			37,067
		Subtotal			183,037			180,483			169,488			169,148			174,119
	Loss on termination of debt				-			550,735			-			-			-
	Foreclosed real estate and repossessed assets, net				12,059			11,047			11,323			12,430			12,617
	Operating lease depreciation				6,417			6,731			6,811			7,409			7,859
	Other credit costs, net				1,476			(288)			(89)			(139)			496
		Total non-interest expense			202,989			748,708			187,533			188,848			195,091
			Income (loss) before income tax expense		54,012			(451,732)			24,942			52,657			51,196
Income tax expense (benefit)					20,542			(170,244)			7,424			19,159			19,086
			Income (loss) after income tax expense		33,470			(281,488)			17,518			33,498			32,110
	Income attributable to non-controlling interest				1,939			1,406			1,075			1,243			1,686
Net income (loss) available to common stockholders				$	31,531		$	(282,894)		$	16,443		$	32,255		$	30,424
Other comprehensive income (loss):
	Reclassification adjustment for securities gains
		included in net income			-			(76,967)			(6,130)			(1,915)			-
	Unrealized holding gains (losses) arising during the
		period on securities available for sale			19,868			(7,768)			(4,334)			116,958			31,084
	Foreign currency hedge				268			(404)			(458)			1,319			(93)
	Foreign currency translation adjustment				(324)			385			443			(1,410)			120
	Recognized postretirement prior service cost
		and transition obligation			(7)			(7)			305			1			1
	Income tax (expense) benefit				(7,375)			31,208			3,890			(42,643)			(11,362)
		Total other comprehensive income (loss)			12,430			(53,553)			(6,284)			72,310			19,750
Comprehensive income (loss)				$	43,961		$	(336,447)		$	10,159		$	104,565		$	50,174
Net income (loss) per common share:
	Basic			$	.20		$	(1.78)		$	.10		$	.20		$	.19
	Diluted				.20			(1.78)			.10			.20			.19
Dividends declared per common share				$	.05		$	.05		$	.05		$	.05		$	.05
Financial Highlights:
Pre-tax pre-provision profit(1)				$	108,118		$	70,578		$	84,191		$	104,972		$	95,201
Return on average assets(2)					.76	%		(5.96)	%		.37	%		.71	%		.68	%
Return on average common equity(2)					8.13			(63.38)			3.55			7.12			7.00
Net interest margin(2)					4.86			4.14			3.92			3.96			4.02
(1) Pre-tax pre-provision profit ("PTPP") is calculated as total revenues less non-interest expense.  First quarter and year-to-date 2012 PTPP excludes the net loss
	of $473.8 million related to the balance sheet repositioning completed in the first quarter of 2012.
(2)  Annualized.

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26

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS
(In thousands)
(Unaudited)
					Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,		Jun. 30,
					2012		2012		2011		2011		2011
ASSETS
Cash and due from banks				$	555,590	$	863,310	$	1,175,118	$	1,078,521	$	802,812
Investments					149,813		168,805		162,359		162,717		166,039
	Mortgage-backed securities				736,251		2,021,574		2,374,026		2,357,865		2,153,016
U.S. Treasury securities					-		-		-		10,761		135,613
Other securities					2,097		1,678		1,816		2,132		2,360
			Total securities available for sale		738,348		2,023,252		2,375,842		2,370,758		2,290,989
Loans and leases held for sale					44,788		5,872		4,822		-		-
Loans and leases:
	Consumer real estate:
		Fixed-rate			4,365,670		4,443,148		4,528,165		4,592,855		4,655,198
		Variable-rate			2,427,745		2,401,915		2,404,886		2,392,966		2,379,250
			Total consumer real estate		6,793,415		6,845,063		6,933,051		6,985,821		7,034,448
	Commercial:
		Fixed- and adjustable-rate			2,730,085		2,737,848		2,775,219		2,853,117		2,877,903
		Variable-rate			761,964		719,872		701,441		711,081		719,741
			Total commercial		3,492,049		3,457,720		3,476,660		3,564,198		3,597,644
	Leasing and equipment finance				3,145,914		3,128,329		3,043,329		3,066,208		3,068,550
	Inventory finance				1,571,004		1,145,183		766,885		826,198		978,505
	Auto finance				223,893		85,562		1,442		-		-
	Other				17,647		17,582		17,944		18,183		19,463
		Total loans and leases			15,243,922		14,679,439		14,239,311		14,460,608		14,698,610
	Allowance for loan and lease losses				(266,187)		(257,895)		(251,158)		(253,547)		(255,441)
		Net loans and leases			14,977,735		14,421,544		13,988,153		14,207,061		14,443,169
Premises and equipment, net					438,438		435,412		436,715		439,288		442,529
Goodwill					225,640		225,640		179,070		152,599		152,599
Other assets					524,466		753,873		598,367		582,290		498,194
	Total assets			$	17,654,818	$	18,897,708	$	18,920,446	$	18,993,234	$	18,796,331
LIABILITIES AND EQUITY
Non-interest-bearing deposits:
	Retail			$	1,316,767	$	1,359,781	$	1,330,462	$	1,396,857	$	1,475,191
	Small business				725,052		708,416		738,867		704,272		683,323
	Commercial and custodial				310,321		305,064		303,216		294,253		278,808
		Total non-interest bearing deposits			2,352,140		2,373,261		2,372,545		2,395,382		2,437,322
Interest-bearing deposits:
	Checking				2,306,810		2,214,192		2,096,340		2,103,184		2,152,646
	Savings				6,031,015		5,882,730		5,859,147		5,789,188		5,608,824
	Money market				748,016		662,493		662,024		650,598		648,862
		Subtotal			9,085,841		8,759,415		8,617,511		8,542,970		8,410,332
	Certificates of deposit				1,608,653		1,135,673		1,112,735		1,114,934		1,092,368
		Total interest-bearing deposits			10,694,494		9,895,088		9,730,246		9,657,904		9,502,700
			Total deposits		13,046,634		12,268,349		12,102,791		12,053,286		11,940,022
Borrowings:
	Short-term borrowings				705,888		436,171		37,081		43,073		35,227
	Long-term borrowings				1,986,182		3,817,165		4,387,036		4,403,724		4,513,301
			Total borrowings		2,692,070		4,253,336		4,424,117		4,446,797		4,548,528
Accrued expenses and other liabilities					335,113		577,142		538,148		672,944		556,641
			Total liabilities		16,073,817		17,098,827		17,065,056		17,173,027		17,045,191
Equity:
	Preferred stock				10,993		-		-		-		-
	Common stock				1,625		1,617		1,602		1,598		1,594
	Additional paid-in capital				738,089		727,596		711,914		705,366		698,683
	Retained earnings, subject to certain restrictions				846,349		1,052,632		1,121,866		1,105,322		1,081,101
	Accumulated other comprehensive income (loss)				11,601		46,029		48,618		34,073		(8,819)
	Treasury stock at cost and other				(45,499)		(42,499)		(33,032)		(33,008)		(33,036)
		Total TCF Financial Corp. stockholders equity			1,563,158		1,785,375		1,850,968		1,813,351		1,739,523
	Non-controlling interest in subsidiaries				17,843		13,506		4,422		6,856		11,617
		Total equity			1,581,001		1,798,881		1,855,390		1,820,207		1,751,140
		Total liabilities and equity		$	$ 17,654,818	$	$ 18,897,708	$	$ 18,920,446	$	$ 18,993,234	$	$ 18,796,331

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27

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY YIELDS AND RATES(1) (2)
(Unaudited)
				Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,		Jun. 30,
				2012		2012		2011		2011		2011
ASSETS
Investments and other				2.48	%	1.29	%	.84	%	.83	%	1.06	%
U.S. Government sponsored entities:
	Mortgage-backed securities, fixed-rate			3.17		3.66		3.79		3.86		3.92
U.S. Treasury securities				-		-		-		.04		.06
Other securities				4.14		5.24		3.36		4.68		5.68
			Total securities available for sale(3)	3.17		3.66		3.79		3.84		3.69
Loans and leases held for sale				8.80		3.08		10.78		-		-
Loans and leases:
	Consumer real estate:
		Fixed-rate		5.84		5.99		6.04		6.06		6.08
		Variable-rate		5.00		5.03		5.09		5.11		5.15
			Total consumer real estate	5.54		5.65		5.71		5.73		5.77
	Commercial:
		Fixed- and adjustable-rate		5.49		5.61		5.68		5.72		5.78
		Variable-rate		3.99		4.20		4.28		4.33		4.32
			Total commercial	5.16		5.32		5.40		5.44		5.49
	Leasing and equipment finance			5.48		5.63		5.88		6.01		6.02
	Inventory finance			6.07		6.58		7.12		7.28		7.11
	Auto finance			6.89		7.44		3.30		-		-
	Other			7.66		8.42		8.91		8.44		9.01
		Total loans and leases		5.52		5.65		5.75		5.81		5.85
			Total interest-earning assets	5.34		5.24		5.20		5.28		5.38
LIABILITIES
Interest-bearing deposits:
	Checking			.15		.16		.15		.20		.23
	Savings			.34		.37		.42		.54		.52
	Money market			.39		.37		.37		.42		.45
		Subtotal		.30		.32		.35		.45		.44
	Certificates of deposit			.86		.75		.75		.79		.82
		Total interest-bearing deposits		.38		.37		.40		.49		.48
			Total deposits	.31		.30		.32		.39		.38
Borrowings:
	Short-term borrowings			.30		.30		.29		.29		.24
	Long-term borrowings			1.87		4.00		4.26		4.28		4.33
			Total borrowings	1.46		3.62		4.23		4.24		4.29
			Total interest-bearing liabilities	.60		1.35		1.59		1.67		1.72
Net interest margin				4.86	%	4.14	%	3.92	%	3.96	%	4.02	%
(1)  Annualized.
(2)  Yields are presented on a fully tax equivalent basis.
(3)  Average yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

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28

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURES(1)
(Dollars in thousands)
(Unaudited)
		At Jun. 30,			At Dec. 31,
		2012			2011
Computation of total equity to total assets:
Total equity	$	1,755,908		$	1,878,627
Total assets		17,870,597			18,979,388
Total equity to total assets		9.83	%		9.90	%
Computation of tangible realized common equity to tangible assets:
Total equity	$	1,755,908		$	1,878,627
Less: Non-controlling interest in subsidiaries		14,937			10,494
Total TCF Financial Corp. stockholders’ equity		1,740,971			1,868,133
Less:
Preferred stock		166,721			-
Goodwill		225,640			225,640
Other intangibles		9,516			7,134
Accumulated other comprehensive income		15,703			56,826
Tangible realized common equity	$	1,323,391		$	1,578,533
Total assets	$	17,870,597		$	18,979,388
Less:
Goodwill		225,640			225,640
Other intangibles		9,516			7,134
Tangible assets	$	17,635,441		$	18,746,614
Tangible realized common equity to tangible assets		7.50	%		8.42	%
		At Jun. 30,			At Dec. 31,
		2012			2011
Computation of tier 1 risk-based capital ratio:
Total tier 1 capital	$	1,508,176		$	1,706,926
Total risk-weighted assets		14,319,406			13,475,330
Total tier 1 risk-based capital ratio		10.53	%		12.67	%
Computation of tier 1 common capital ratio:
Total tier 1 capital	$	1,508,176		$	1,706,926
Less:
Preferred stock		166,721			-
Qualifying non-controlling interest in subsidiaries		14,937			10,494
Qualifying trust preferred securities		-			115,000
Total tier 1 common capital	$	1,326,518		$	1,581,432
Total tier 1 common capital ratio		9.26	%		11.74	%
(1) In contrast to GAAP-basis and regulatory capital-basis measures, tangible realized common equity excludes the effect of goodwill, other intangibles and accumulated other comprehensive income (loss) and the total tier 1 common capital ratio excludes the effect of qualifying trust preferred securities and qualifying non-controlling interest in subsidiaries. Management reviews these ratios as ongoing measures and has included this information because of current interest in the industry. The methodology for calculating these ratios may vary between companies.

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