TCF Financial 10-K 2014 FY Annual report

Exhibit 12(a)

Consolidated Ratios of Earnings to Fixed Charges

		Year Ended December 31,
(Dollars in thousands)	2014			2013			2012			2011			2010
Earnings:(1)
Income (loss) before income tax expense (benefit)	$	281,382		$	243,045		$	(339,555	)	$	178,828		$	244,415
Fixed charges		70,145			73,726			116,471			249,743			282,456
Other adjustments(2)		(7,487	)		(6,920	)		(6,070	)		(4,874	)		(3,381	)
Total earnings (loss) (a)	$	344,040		$	309,851		$	(229,154	)	$	423,697		$	523,490
Fixed charges:(1)
Interest on deposits	$	38,385		$	36,604		$	40,987		$	45,108		$	61,229
Interest on borrowings		20,215			25,312			63,617			193,155			209,446
Interest portion of rental expense(3)		11,349			11,785			11,847			11,462			11,560
Other adjustments(4)		196			25			20			18			221
Total fixed charges (b)	$	70,145		$	73,726		$	116,471		$	249,743		$	282,456
Ratio of earnings to fixed charges (a/b)(5)		4.90	x		4.20	x		–			1.70	x		1.85	x
Earnings, excluding interest on deposits:
Total earnings (loss)	$	344,040		$	309,851		$	(229,154	)	$	423,697		$	523,490
Less interest on deposits		38,385			36,604			40,987			45,108			61,229
Total earnings (loss) excluding interest on deposits (c)	$	305,655		$	273,247		$	(270,141	)	$	378,589		$	462,261
Fixed charges, excluding interest on deposits:
Total fixed charges	$	70,145		$	73,726		$	116,471		$	249,743		$	282,456
Less interest on deposits		38,385			36,604			40,987			45,108			61,229
Total fixed charges, excluding interest on deposits (d)	$	31,760		$	37,122		$	75,484		$	204,635		$	221,227
Ratio of earnings to fixed charges, excluding interest on deposits (c/d)(5)(6)		9.62	x		7.36	x		–			1.85	x		2.09	x

⁽¹⁾

As defined in Item 503(d) of Regulation S-K.

⁽²⁾

For purposes of the "earnings" computation, other adjustments include adding the amortization of capitalized interest and subtracting interest capitalized and income attributable to non-controlling interests.

⁽³⁾

The appropriate portion of rental expense (generally one-third) deemed representative of the interest factor.

⁽⁴⁾

For purposes of the "fixed charges" computation, other adjustments include capitalized interest costs.

⁽⁵⁾

Earnings for the year ended December 31, 2012 were inadequate to cover fixed charges. Additional earnings of $345.6 million would have been needed to bring both the ratio of earnings to fixed charges and the ratio of earnings to fixed charges, excluding interest on deposits, to 1.0.

⁽⁶⁾

The ratio of earnings to fixed charges, excluding interest on deposits, is being provided as an additional measure to provide comparability to the ratios disclosed by all other issuers of debt securities.