Exhibit 99.1
TCF Financial Corporation
Investing in the Future
1.) Corporate Profile
At March 31, 2004
• $11.7 billion financial holding company headquartered in Minnesota; 42nd largest1 bank in the U.S. based on market cap
• 406 bank branches, 232 branches opened since January 1, 1998 - 27th largest2 branch network in the country
• 4th largest2 bank branch growth (1999 to 2003)
• 1,147 TCF EXPRESS TELLER® ATMs, 679 off-site
• 1.5 million checking accounts
• 13th largest U.S. Visa® Classic debit card issuer ranked by sales volumes3
1 Source: Citigate Financial Intelligence
2 Source: American Banker; January 15, 2004
3 Source: Visa, at December 31, 2003
2.) Corporate Profile
At March 31, 2004
• Bank branches located in six states: Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana.
|
| At 3/31/04 |
| At 1/1/98 |
|
Traditional |
| 166 |
| 156 |
|
Supermarket |
| 240 |
| 61 |
|
Total |
| 406 |
| 217 |
|
|
|
|
|
|
|
Minnesota |
| 99 |
| 75 |
|
Illinois |
| 191 |
| 47 |
|
Michigan |
| 56 |
| 60 |
|
Wisconsin |
| 34 |
| 28 |
|
Colorado |
| 20 |
| 7 |
|
Indiana |
| 6 |
| – |
|
Total |
| 406 |
| 217 |
|
3.) What Makes TCF Different
• Convenience
TCF banks a large and diverse customer base by offering a host of convenient banking services (open seven days a week, 364 days/year, traditional and supermarket branches, TCF EXPRESS TELLER® ATMs, debit cards, phone banking, TCF Totally Free OnlineSM banking, etc.).
• De Novo Expansion
TCF is increasing its market share through de novo expansion:
• Opening new branches
• Starting new businesses
• Offering new products and services
4.) What Makes TCF Different
• Power Assets® and Power Liabilities®
Power Assets® (consumer loans, commercial and commercial real estate loans, and leasing and equipment finance) and low-cost Power Liabilities® (checking, savings and money market accounts) are growing and contribute a significantly high percentage of TCF’s profits.
• Credit Quality
TCF is primarily a secured lender, emphasizing credit quality over asset growth.
• Stock Buy-Back
TCF has purchased 25.1 million shares since 1/1/98 at an average cost of $33.34 per share.
5.) Share Repurchase Program
|
| 1998 |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 3/04 |
| |||||||
|
|
|
|
|
|
|
| (000s) |
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Shares Purchased |
| 7,549 |
| 4,092 |
| 3,244 |
| 3,670 |
| 3,108 |
| 3,459 |
| 13 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Shares outstanding: |
| 85,569 |
| 81,944 |
| 80,289 |
| 76,932 |
| 73,856 |
| 70,476 |
| 70,508 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Average purchase price: |
| $ | 27.94 |
| $ | 25.93 |
| $ | 22.76 |
| $ | 40.34 |
| $ | 47.62 |
| $ | 43.46 |
| $ | 51.66 |
|
6.) Share Repurchase Program
• Repurchased 13,445 shares of common stock during the 2004 first quarter at an average cost of $51.66 per share
• Since 1/1/98,
• TCF repurchased 25.1 million shares at an average cost of $33.34 per share
• $838 million investment
• $1.3 billion value at 3/31/04
• At 3/31/04, 3.7 million shares remain available to purchase under board authorizations
7.) Consumer Home Equity Lending +22%*
Loan-to-value |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
80% or less |
| $ | 971.7 |
| $ | 1,178.8 |
| $ | 1,488.5 |
| $ | 1,816.7 |
| $ | 1,907.0 |
|
Over 80 to 90% |
| $ | 648.2 |
| $ | 802.1 |
| $ | 1,028.2 |
| $ | 1,370.5 |
| $ | 1,471.4 |
|
Over 90 to 100% |
| $ | 486.5 |
| $ | 396.3 |
| $ | 385.0 |
| $ | 361.4 |
| $ | 366.4 |
|
Over 100% |
| $ | 45.6 |
| $ | 66.6 |
| $ | 53.9 |
| $ | 39.5 |
| $ | 37.9 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total |
| $ | 2,152 |
| $ | 2,444 |
| $ | 2,956 |
| $ | 3,588 |
| $ | 3,783 |
|
Portion of loans >90% of property value is $37.9 million
* Twelve-month growth rate
8.) Consumer Home Equity Loans
At March 31, 2004
• 69% loans, 31% lines of credit
• 61% variable rate (prime based) and 39% fixed rate
• 68% are 1st mortgages, 32% are 2nd mortgages
• Average home value of $186,043
• Yield 6.09%
• Over-30-day delinquency rate .37%
• Net charge-offs: 2004= .08% (annualized), 2003= .11%, 2002= .18%
• Average loan-to-value 74%
• Average FICO score 712
9.) Commercial Lending
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Commercial Real Estate |
| $ | 1,371.9 |
| $ | 1,622.5 |
| $ | 1,835.8 |
| $ | 1,916.7 |
| $ | 1,963.8 |
| ||
Commercial Business |
| $ | 410.4 |
| $ | 422.4 |
| $ | 440.1 |
| $ | 427.7 |
| $ | 428.6 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total |
| $ | 1,782 |
| $ | 2,045 |
| $ | 2,276 |
| $ | 2,344 |
| $ | 2,392 |
| ||
10.) Commercial Loans
At March 31, 2004
• Commercial real estate
• 27% apartment loans
• 22% office building loans
• 8% hotel loans
• Commercial business — $429 million
• Yield 5.24%
• Over-30-day delinquency rate .02%
• Net charge-offs: 2004= .01% (annualized), 2003= .09%, 2002= .37%
• Approximately 99% of all commercial loans secured
• CRE location mix: 91% Midwest, 9% Other
11.) Leasing and Equipment Finance +20%*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Leasing and Equipment Finance |
| $ | 856 |
| $ | 957 |
| $ | 1,039 |
| $ | 1,160 |
| $ | 1,256 |
|
* Twelve-month growth rate
12.) Leasing and Equipment Finance
At March 31, 2004
• Equipment type
• 28% manufacturing and construction
• 19% technology and data processing
• 18% specialty vehicle
• 10% medical
• 7% trucks and trailers
• 18% other
• Yield 6.99%
• Uninstalled backlog of $209.3 million; up $54.1 million from year-end 2003
• Over-30-day delinquency rate 1.02%
• Net charge-offs (recoveries): 2004= (.04)% (annualized), 2003= .69%, 2002= .80%
• Acquired VGM Leasing, Inc., specializing in home medical equipment financing
13.) Summary of Consumer and Commercial Loans
($ millions)
|
| At March 31, 2004 |
| |||||||
|
| Consumer |
| Commercial |
| Total |
| |||
Variable-rate Loans: |
|
|
|
|
|
|
| |||
Loans without an interest rate floor |
| $ | 47 |
| $ | 602 |
| $ | 649 |
|
Loans with a variable rate greater than the interest rate floor |
| 415 |
| 86 |
| 501 |
| |||
Loans with a variable rate equal to the interest rate floor |
| 938 |
| 53 |
| 991 |
| |||
Subtotal 1 |
| 1,400 |
| 741 |
| 2,141 |
| |||
Loans with a variable rate less than the interest rate floor |
|
|
|
|
|
|
| |||
1-25 basis points (bps) 2 |
| 484 |
| 119 |
| 603 |
| |||
26 bps or more 2 |
| 419 |
| 247 |
| 666 |
| |||
Total Variable-rate Loans |
| 2,303 |
| 1,107 |
| 3,410 |
| |||
Fixed-rate Loans |
| 1,519 |
| 387 |
| 1,906 |
| |||
Adjustable-rate Loans |
| – |
| 898 |
| 898 |
| |||
Total Loans |
| $ | 3,822 |
| $ | 2,392 |
| $ | 6,214 |
|
Variable-rate Loans as a Percentage of Total Loans |
| 60 | % | 46 | % | 55 | % | |||
1 Loans subject to an immediate increase in interest rate if there is an increase in TCF’s base rate or LIBOR.
2 The base rate or LIBOR would need to increase by these basis points, before the loan would change from the floor interest rate.
14.) Mortgage Banking
At March 31, 2004
• Total loans serviced - $5 billion
• Weighted average note rate of 5.92%
• MSR net book value - $50.7 million
• MSR as a percentage of servicing portfolio - 1.01%
• 2004 loans funded - $241.8 million
• Mortgage applications in process - $444.1 million
15.) Allowance for Loan & Lease Losses
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| ||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| ||||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Allowance for Loan & Lease Losses |
| $ | 66.7 |
| $ | 75.0 |
| $ | 77.0 |
| $ | 76.6 |
| $ | 79.1 |
| |
Net Charge-offs (NCO) |
| $ | 3.9 |
| $ | 12.5 |
| $ | 20.0 |
| $ | 12.9 |
| $ | .5 |
| |
|
|
|
|
|
|
|
|
|
|
|
| ||||||
As a% of Loans & Leases: |
|
|
|
|
|
|
|
|
|
|
| ||||||
Allowance |
| .78 | % | .91 | % | .95 | % | .92 | % | .92 | % | ||||||
NCO |
| .05 | % | .15 | % | .25 | % | .16 | % | .02 | %* | ||||||
Coverage Ratio |
| 17.3 | X | 6.0 | X | 3.8 | X | 5.9 | X | 38.3 | X* | ||||||
* Annualized
16.) Delinquencies (over 30-day)*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Delinquencies |
| $ | 58.9 |
| $ | 46.8 |
| $ | 46.3 |
| $ | 38.7 |
| $ | 33.9 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Delinquencies (percent) |
| .69 | % | .57 | % | .57 | % | .47 | % | .40 | % | |||||
* Excludes non-accrual loans and leases
17.) Non-Performing Assets
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Real Estate Owned |
| $ | 10.9 |
| $ | 14.6 |
| $ | 26.6 |
| $ | 33.5 |
| $ | 30.5 |
| ||
Non-Accrual Loans and Leases |
| $ | 35.2 |
| $ | 52.0 |
| $ | 43.6 |
| $ | 35.4 |
| $ | 37.0 |
| ||
Total |
| $ | 46.1 |
| $ | 66.6 |
| $ | 70.2 |
| $ | 68.9 |
| $ | 67.5 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Reserves/NAs: |
| 189 | % | 144 | % | 176 | % | 216 | % | 214 | % | |||||||
NPAs/Assets: |
| .41 | % | .59 | % | .58 | % | .61 | % | .58 | % | |||||||
18.) Credit Quality
At March 31, 2004
• In 2003, TCF ranked the 6th best* bank in the U.S. in net charge-offs to average loans and leases .16%
• For the four years, 2000 - 2003, net charge-offs to average loans and leases were .15%; TCF ranked as the 4th best* bank in the U.S.
• Non-performing assets to net loans and leases ..79%
• Over-30-day delinquency rate .40%
• Allowance as a multiple of annualized net charge-offs (coverage ratio), 38.3X
• Income before income taxes and provision for loan losses as a multiple of net charge-offs, 180.2X
* Source: Citigate Financial Intelligence (fifty largest banks)
19.) Checking Accounts +8%*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
|
|
|
|
|
|
| (000s) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Traditional Branches |
| 703 |
| 738 |
| 773 |
| 821 |
| 844 |
|
Supermarket Branches |
| 428 |
| 511 |
| 565 |
| 623 |
| 629 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
| 1,131 |
| 1,249 |
| 1,338 |
| 1,444 |
| 1,473 |
|
* Twelve-month growth rate
20.) Fee Revenue Per Retail Checking Account
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 3/04* |
| |||||
|
|
|
|
|
| (In Dollars) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Fee Revenue per Retail Checking Account |
| $ | 190 |
| $ | 209 |
| $ | 218 |
| $ | 223 |
| $ | 225 |
|
* Trailing twelve months
21.) Retail Checking Deposits +15%*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Supermarket Branches |
| $ | 475 |
| $ | 591 |
| $ | 695 |
| $ | 829 |
| $ | 898 |
| ||
Traditional Branches |
| $ | 1,535 |
| $ | 1,715 |
| $ | 1,903 |
| $ | 2,146 |
| $ | 2,301 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total |
| $ | 2,010 |
| $ | 2,306 |
| $ | 2,598 |
| $ | 2,975 |
| $ | 3,199 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Average Rate: |
| .20 | % | .07 | % | .04 | % | .03 | % | .06 | % | |||||||
* Twelve-month growth rate
22.) Retail Savings and Money Market Deposits
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Money Market |
| $ | 794.2 |
| $ | 879.9 |
| $ | 791.3 |
| $ | 745.8 |
| $ | 727.0 |
|
Savings |
| $ | 964.3 |
| $ | 1,113.4 |
| $ | 1,794.6 |
| $ | 1,771.1 |
| $ | 1,801.9 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total |
| $ | 1,758 |
| $ | 1,993 |
| $ | 2,586 |
| $ | 2,517 |
| $ | 2,529 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Average Rate: |
| 2.29 | % | .81 | % | .78 | % | .41 | % | .36 | % | |||||
23.) Banking Fees and Other Revenue1 +6%*
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
First Quarter |
| $ | 56.9 |
| $ | 65.6 |
| $ | 71.8 |
| $ | 81.6 |
| $ | 86.6 |
|
Second Quarter |
| $ | 65.1 |
| $ | 74.7 |
| $ | 84.1 |
| $ | 92.6 |
| $ | – |
|
Third Quarter |
| $ | 67.5 |
| $ | 75.1 |
| $ | 87.4 |
| $ | 93.8 |
| $ | – |
|
Fourth Quarter |
| $ | 67.1 |
| $ | 77.6 |
| $ | 91.1 |
| $ | 90.0 |
| $ | – |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total |
| $ | 257 |
| $ | 293 |
| $ | 334 |
| $ | 358 |
| $ | 87 |
|
1 Consisting of fees and service charges, debit card revenue, ATM revenue, and investments and insurance commissions.
* YTD growth rate (‘04 vs. ‘03)
24.) New Branches
25.) New Branch Expansion
|
| 1998 |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| 2004 Plan |
|
|
| (# of new branches opened) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supermarket |
| 99 |
| 34 |
| 22 |
| 21 |
| 15 |
| 5 |
| 2 |
| 6 |
|
Traditional |
| 7 |
| 1 |
| 3 |
| 6 |
| 12 |
| 14 |
| 2 |
| 22 |
|
Total |
| 106 |
| 35 |
| 25 |
| 27 |
| 27 |
| 19 |
| 4 |
| 28 |
|
26.) Retail Model - Net Income
|
| Year of Existence |
| ||||||||||||||||||||||||||||
|
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| 6 |
| 7 |
| 8 |
| 9 |
| 10 |
| ||||||||||
|
| Net Income* ($ 000s) |
| ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Supermarket Branch |
| $ | (185 | ) | $ | (41 | ) | $ | 24 |
| $ | 91 |
| $ | 89 |
| $ | 139 |
| $ | 188 |
| $ | 215 |
| $ | 252 |
| $ | 282 |
|
Traditional Branch |
| $ | (348 | ) | $ | (154 | ) | $ | (15 | ) | $ | 90 |
| $ | 119 |
| $ | 195 |
| $ | 253 |
| $ | 279 |
| $ | 341 |
| $ | 395 |
|
* Excludes consumer lending
27.) Branch Growth - Select Peers
Bank branch growth from 1999 to 20031
|
| # of New Branches |
|
TCF Financial Corp.2 |
| 81 |
|
Charter One |
| 67 |
|
Fifth Third |
| (30 | ) |
Bank One |
| (121 | ) |
U.S. Bancorp |
| (108 | ) |
Wells Fargo |
| (229 | ) |
|
|
|
|
Total Top 50 Banks |
| (1,977 | ) |
1 Source: American Banker, January 15, 2004
2 Fourth largest in bank branch growth
28.) Total New Branches1
|
| 12/98 |
| 12/99 |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| 2004 Plan |
|
|
| (#) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supermarket |
| 99 |
| 133 |
| 153 |
| 174 |
| 184 |
| 186 |
| 188 |
| 192 |
|
Traditional |
| 6 |
| 7 |
| 10 |
| 16 |
| 28 |
| 42 |
| 44 |
| 64 |
|
Total |
| 105 |
| 140 |
| 163 |
| 190 |
| 212 |
| 228 |
| 232 |
| 256 |
|
1 Branches opened since January 1, 1998
29.) New Branch1 Total Deposits +15%*
|
| 12/98 |
| 12/99 |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||||
|
| ($ millions) |
| |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Deposits |
| $ | 190 |
| $ | 344 |
| $ | 594 |
| $ | 744 |
| $ | 1,088 |
| $ | 1,225 |
| $ | 1,351 |
|
1 Branches opened since January 1, 1998
* Twelve month growth rate
30.) New Branch1 Total Checking Accounts +24%*
|
| 12/98 |
| 12/99 |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
|
|
| (000s) |
| ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Checking Accounts |
| 91 |
| 180 |
| 239 |
| 328 |
| 396 |
| 480 |
| 518 |
|
1 Branches opened since January 1, 1998
* Annual growth rate (‘04 vs. ‘03)
31.) New Branch1 Banking Fees & Other Revenue2 +19%*
|
| 1998 |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 3/04 |
| |||||||
|
|
|
|
|
|
|
| ($ millions) |
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
First Quarter |
| $ | .8 |
| $ | 6.9 |
| $ | 11.8 |
| $ | 17.8 |
| $ | 21.8 |
| $ | 27.0 |
| $ | 32.2 |
|
Second Quarter |
| $ | 3.2 |
| $ | 9.5 |
| $ | 15.2 |
| $ | 21.8 |
| $ | 27.6 |
| $ | 32.8 |
| $ | – |
|
Third Quarter |
| $ | 4.5 |
| $ | 10.8 |
| $ | 16.4 |
| $ | 22.3 |
| $ | 28.5 |
| $ | 33.5 |
| $ | – |
|
Fourth Quarter |
| $ | 5.8 |
| $ | 11.9 |
| $ | 17.4 |
| $ | 23.5 |
| $ | 29.8 |
| $ | 32.8 |
| $ | – |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total |
| $ | 14 |
| $ | 39 |
| $ | 61 |
| $ | 85 |
| $ | 108 |
| $ | 126 |
| $ | 32 |
|
1 Branches opened since January 1, 1998
2 Consisting of fees and service charges, debit card revenue, ATM revenue, and investments and insurance commissions.
* Twelve month growth rate
32.) Internet Banking Accounts +112%*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
|
|
| (#) |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
Internet Banking Accounts |
| 29,778 |
| 143,007 |
| 255,369 |
| 515,246 |
| 607,888 |
|
* Twelve-month growth rate
33.) Debit Card Interchange Revenue
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 3/04 |
| |||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
First Quarter |
| $ | 6.0 |
| $ | 8.1 |
| $ | 10.2 |
| $ | 13.2 |
| $ | 13.5 |
| ||
Second Quarter |
| $ | 7.1 |
| $ | 9.3 |
| $ | 11.8 |
| $ | 14.8 |
| $ | – |
| ||
Third Quarter |
| $ | 7.5 |
| $ | 10.1 |
| $ | 12.1 |
| $ | 12.9 |
| $ | – |
| ||
Fourth Quarter |
| $ | 8.2 |
| $ | 10.1 |
| $ | 13.1 |
| $ | 12.1 |
| $ | – |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total |
| $ | 28.8 |
| $ | 37.6 |
| $ | 47.2 |
| $ | 53.0 |
| $ | 13.5 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Sales volume: |
| $ | 2,025 |
| $ | 2,560 |
| $ | 3,216 |
| $ | 3,899 |
| $ | 1,077 | * | ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Average off-line interchange rate: |
| 1.53 | % | 1.55 | % | 1.55 | % | 1.43 | % | 1.32 | %* | |||||||
* Year-to-date
34.) TCF Debit Card
• 13th largest U.S. VISA® Classic debit card issuer1
• 9.7 million average transactions per month in 1Q04
• 20% increase in the number of customer purchases2
• 11% increase in the number of TCF Debit Cards2
• Interchange revenue of $13.5 million in 1Q04, an increase of 2%2
• Percentage of active debit card users was 54.3% in 1Q04, up from 53.7% in 1Q03
• 22% increase in sales volume2
1 Source: Visa, at December 31, 2003; ranked by sales volume
2 1Q04 vs. 1Q03
35.) Small Business Checking Deposits +23%*
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
| ($ millions) |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Small Business Checking Deposits |
| $ | 253 |
| $ | 313 |
| $ | 380 |
| $ | 461 |
| $ | 482 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
# of accounts |
| 69,179 |
| 79,865 |
| 91,385 |
| 102,557 |
| 105,433 |
| |||||
* Twelve-month growth rate
36.) Small Business Checking Accounts
At March 31, 2004
• Relationship banking offering multiple product lines to business owners
• $482 million in 0% interest checking account deposits
• Small business loans up to $50,000; small business administration loans up to $150,000; home equity loans up to $500,000
• Other services — payroll services, merchant processing, brokerage accounts
• 48,000 number of active TCF Business Check CardsSM
37.) Campus Banking
At March 31, 2004
• Alliances with:
• University of Minnesota
• University of Michigan
• St. Cloud State University in MN
• Northern Illinois University - Dekalb
• Saginaw Valley State University in MI
• Multi-purpose campus card serves as a school identification card, ATM card, library card, security card, health care card, phone card, stored value card for vending machines, laundry, etc.
• 74,300 total checking accounts
• $102.6 million in deposits
38.) New Products and Services
• TCF Express CoinSM Service coin counters
• TCF Command ProtectionSM Plan
• Monthly payments
• Another source of fee revenue
• TCF Check CashingSM
• Investments and Insurance Products
• “Generation Advantage” life insurance product
39.) Financial Highlights
How We Are Doing...
40.) Diluted EPS
|
| 1995 |
| 1996 |
| 1997 |
| 1998 |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004* |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Diluted EPS |
| $ | .86 |
| $ | 1.20 |
| $ | 1.69 |
| $ | 1.76 |
| $ | 2.00 |
| $ | 2.35 |
| $ | 2.70 |
| $ | 3.15 |
| $ | 3.05 |
| $ | .88 |
|
* Year-to-date
41.) Dividend History +15%*
|
| 1995 |
| 1996 |
| 1997 |
| 1998 |
| 1999 |
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| ||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Dividends Paid |
| $ | .30 |
| $ | .36 |
| $ | .47 |
| $ | .61 |
| $ | .73 |
| $ | .83 |
| $ | 1.00 |
| $ | 1.15 |
| $ | 1.30 |
| $ | 1.50 | 2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
Dividend payout ratio: |
| 35 | % | 30 | % | 28 | % | 35 | % | 36 | % | 35 | % | 37 | % | 37 | % | 43 | % | 41 | %3 | ||||||||||
10-year compounded annual growth rate 21%
Ranks 1st of the Top 50 Banks1
* Annual growth rate (‘04 vs. ‘03)
1 Source: Citigate Financial Intelligence
2 Annualized, subject to Board of Directors approval
3 Based on analysts’ average diluted EPS estimate of $3.64
42.) Net Income
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
First Quarter |
| $ | 40.7 |
| $ | 48.2 |
| $ | 56.3 |
| $ | 60.1 |
| $ | 60.7 |
|
Second Quarter |
| $ | 46.7 |
| $ | 52.0 |
| $ | 58.0 |
| $ | 60.3 |
| $ | – |
|
Third Quarter |
| $ | 46.7 |
| $ | 52.9 |
| $ | 58.9 |
| $ | 36.0 |
| $ | – |
|
Fourth Quarter |
| $ | 52.2 |
| $ | 54.2 |
| $ | 59.8 |
| $ | 59.5 |
| $ | – |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total |
| $ | 186 |
| $ | 207 |
| $ | 233 |
| $ | 216 |
| $ | 61 |
|
43.) Net Interest Income
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
First Quarter |
| $ | 106.8 |
| $ | 113.8 |
| $ | 124.5 |
| $ | 122.4 |
| $ | 118.5 |
|
Second Quarter |
| $ | 110.2 |
| $ | 119.3 |
| $ | 124.3 |
| $ | 119.8 |
| $ | – |
|
Third Quarter |
| $ | 110.7 |
| $ | 122.4 |
| $ | 123.8 |
| $ | 119.9 |
| $ | – |
|
Fourth Quarter |
| $ | 110.8 |
| $ | 125.7 |
| $ | 126.6 |
| $ | 119.1 |
| $ | – |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Total |
| $ | 439 |
| $ | 481 |
| $ | 499 |
| $ | 481 |
| $ | 118 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net Interest Margin: |
| 4.35 | % | 4.51 | % | 4.71 | % | 4.54 | % | 4.52 | %* | |||||
* Year-to-date
44.) Interest Rate Risk Management
Cumulative One Year Positive Gap
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Adjusted Gap |
| $ | (215 | ) | $ | 242 |
| $ | 1,110 |
| $ | 161 |
| $ | 1,167 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Adjusted Gap as a% of Total Assets |
| (1.9 | )% | 2.1 | % | 9.1 | % | 1.4 | % | 10.0 | % | |||||
45.) Securities Available for Sale and Residential Portfolios
Ending Balance |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Securities available for sale portfolio* |
| $ | 1,419 |
| $ | 1,575 |
| $ | 2,355 |
| $ | 1,524 |
| $ | 1,249 |
|
Residential portfolio |
| 3,674 |
| 2,733 |
| 1,800 |
| 1,213 |
| 1,152 |
| |||||
Total |
| $ | 5,093 |
| $ | 4,308 |
| $ | 4,155 |
| $ | 2,737 |
| $ | 2,401 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Rate: |
| 7.05 | % | 6.76 | % | 6.25 | % | 5.55 | % | 5.50 | % | |||||
* Based on historical amortized cost
46.) Financial Highlights
($ millions, except per-share data) |
| Year-to-Date |
|
|
| ||||
|
| 2004 |
| 2003 |
| Change |
| ||
Net interest income |
| $ | 118.5 |
| $ | 122.4 |
| (3 | )% |
Fees & other revenue: |
|
|
|
|
|
|
| ||
Banking |
| 86.6 |
| 81.6 |
| 6 |
| ||
Other |
| 15.9 |
| 15.2 |
| 4 |
| ||
Total fees and other revenue |
| 102.5 |
| 96.8 |
| 6 |
| ||
Gains on sales of securities available for sale |
| 12.7 |
| 21.1 |
| (40 | ) | ||
Gains (losses) on termination of debt |
| – |
| (6.6 | ) | N.M. |
| ||
Other non-interest income |
| 12.7 |
| 14.6 |
| (13 | ) | ||
Total non-interest income |
| 115.2 |
| 111.4 |
| 3 |
| ||
Total revenue |
| 233.7 |
| 233.8 |
| – |
| ||
Provision for credit losses |
| 1.2 |
| 2.7 |
| (57 | ) | ||
Non-interest expense |
| 140.7 |
| 138.8 |
| 1 |
| ||
Net income |
| $ | 60.7 |
| $ | 60.1 |
| 1 |
|
|
|
|
|
|
|
|
| ||
Diluted EPS |
| $ | .88 |
| $ | .83 |
| 6 |
|
ROA |
| 2.11 | % | 1.99 | % | 12 | bps | ||
ROE |
| 25.90 | % | 24.70 | % | 120 | bps | ||
N.M. Not meaningful
47.) Power ProfitsSM
Average Balance ($ millions)
Profit center net income ($ in 000s)
|
|
|
| YTD 2004 |
|
|
| ||
|
| Balance |
| Income |
| % |
| ||
Commercial Lending |
| $ | 2,370 |
| $ | 6,556 |
| 11 | % |
Consumer Lending |
| 3,984 |
| 14,046 |
| 23 |
| ||
Leasing and Equipment Finance |
| 1,194 |
| 8,412 |
| 14 |
| ||
Mortgage Banking |
| 81 |
| (433 | ) | (1 | ) | ||
Total Power Assets® |
| $ | 7,629 |
| 28,581 |
| 47 |
| |
|
|
|
|
|
|
|
| ||
Traditional Branches (166) |
| $ | 6,057 |
| 14,534 |
| 24 |
| |
Supermarket Branches (240) |
| 1,608 |
| 6,180 |
| 10 |
| ||
Total Power Liabilities® |
| $ | 7,665 |
| 20,714 |
| 34 |
| |
Total Power Assets & Liabilities |
|
|
| 49,295 |
| 81 |
| ||
Equity |
|
|
| 6,349 |
| 11 |
| ||
Total Power Businesses |
|
|
| 55,644 |
| 92 |
| ||
Treasury Services and Other |
|
|
| 5,017 |
| 8 |
| ||
Net Income |
|
|
| $ | 60,661 |
| 100 | % | |
48.) TCF vs. Top 50 Banks* - Return on Assets
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
NATIONAL CITY CORP |
| NCC |
| 2.38 | % |
NEW YORK CMNTY BANCORP INC |
| NYB |
| 2.26 | % |
FIFTH THIRD BANCORP |
| FITB |
| 2.01 | % |
MELLON FINANCIAL CORP |
| MEL |
| 1.99 | % |
U S BANCORP |
| USB |
| 1.99 | % |
SYNOVUS FINANCIAL CP |
| SNV |
| 1.91 | % |
FIRST TENNESSEE NATL CORP |
| FTN |
| 1.88 | % |
NORTH FORK BANCORPORATION |
| NFB |
| 1.86 | % |
TCF FINANCIAL CORP |
| TCB |
| 1.85 | % |
WELLS FARGO & CO |
| WFC |
| 1.68 | % |
MARSHALL & ILSLEY CORP |
| MI |
| 1.64 | % |
CITY NATIONAL CORP |
| CYN |
| 1.54 | % |
ASSOCIATED BANC CORP |
| ASBC |
| 1.53 | % |
COMMERCE BANCSHARES INC |
| CBSH |
| 1.52 | % |
UNION PLANTERS CORP |
| UPC |
| 1.50 | % |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| 1.49 | % |
AMSOUTH BANCORPORATION |
| ASO |
| 1.47 | % |
CITIGROUP INC |
| C |
| 1.47 | % |
HIBERNIA CORP —CL A |
| HIB |
| 1.45 | % |
UNIONBANCAL CORP |
| UB |
| 1.45 | % |
CHARTER ONE FINANCIAL INC |
| CF |
| 1.45 | % |
MERCANTILE BANKSHARES CORP |
| MRBK |
| 1.43 | % |
BANK OF AMERICA CORP |
| BAC |
| 1.41 | % |
BANKNORTH GROUP INC |
| BNK |
| 1.37 | % |
COMPASS BANCSHARES INC |
| CBSS |
| 1.36 | % |
POPULAR INC |
| BPOP |
| 1.36 | % |
SOUTHTRUST CORP |
| SOTR |
| 1.36 | % |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| 1.35 | % |
HUDSON CITY BANCORP |
| HCBK |
| 1.34 | % |
REGIONS FINL CORP |
| RF |
| 1.34 | % |
HUNTINGTON BANCSHARES |
| HBAN |
| 1.33 | % |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 1.32 | % |
M & T BANK CORP |
| MTB |
| 1.27 | % |
BANK OF NEW YORK CO INC |
| BK |
| 1.27 | % |
COMERICA INC. |
| CMA |
| 1.25 | % |
ZIONS BANCORPORATION |
| ZION |
| 1.20 | % |
BB&T CORP |
| BBT |
| 1.17 | % |
BANK ONE CORP |
| ONE |
| 1.17 | % |
WEBSTER FINANCIAL CORP |
| WBS |
| 1.15 | % |
WACHOVIA CORP |
| WB |
| 1.15 | % |
KEYCORP |
| KEY |
| 1.07 | % |
BOK FINANCIAL CORP |
| BOKF |
| 1.06 | % |
SUNTRUST BANKS INC |
| STI |
| 1.06 | % |
NORTHERN TRUST CORP |
| NTRS |
| 1.04 | % |
COLONIAL BANCGROUP |
| CNB |
| .98 | % |
SOVEREIGN BANCORP INC |
| SOV |
| .92 | % |
J P MORGAN CHASE & CO |
| JPM |
| .87 | % |
COMMERCE BANCORP INC/NJ |
| CBH |
| .86 | % |
WESTCORP |
| WES |
| .85 | % |
STATE STREET CORP |
| STT |
| .83 | % |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| .55 | % |
|
|
|
|
|
|
AVERAGE |
|
|
| 1.38 | % |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
49.) TCF vs. Top 50 Banks* - Return on Equity
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
NATIONAL CITY CORP |
| NCC |
| 26.62 | % |
NORTH FORK BANCORPORATION |
| NFB |
| 26.52 | % |
FIRST TENNESSEE NATL CORP |
| FTN |
| 26.30 | % |
TCF FINANCIAL CORP |
| TCB |
| 23.05 | % |
BANK OF AMERICA CORP |
| BAC |
| 21.99 | % |
NEW YORK CMNTY BANCORP INC |
| NYB |
| 20.74 | % |
FIFTH THIRD BANCORP |
| FITB |
| 20.40 | % |
CITIGROUP INC |
| C |
| 19.80 | % |
CHARTER ONE FINANCIAL INC |
| CF |
| 19.45 | % |
WELLS FARGO & CO |
| WFC |
| 19.40 | % |
AMSOUTH BANCORPORATION |
| ASO |
| 19.34 | % |
POPULAR INC |
| BPOP |
| 19.30 | % |
U S BANCORP |
| USB |
| 19.20 | % |
MELLON FINANCIAL CORP |
| MEL |
| 19.20 | % |
SYNOVUS FINANCIAL CP |
| SNV |
| 17.95 | % |
COMMERCE BANCORP INC/NJ |
| CBH |
| 17.70 | % |
COMPASS BANCSHARES INC |
| CBSS |
| 17.65 | % |
HUNTINGTON BANCSHARES |
| HBAN |
| 17.60 | % |
ASSOCIATED BANC CORP |
| ASBC |
| 17.58 | % |
MARSHALL & ILSLEY CORP |
| MI |
| 16.79 | % |
CITY NATIONAL CORP |
| CYN |
| 16.27 | % |
SOUTHTRUST CORP |
| SOTR |
| 16.17 | % |
J P MORGAN CHASE & CO |
| JPM |
| 16.00 | % |
UNION PLANTERS CORP |
| UPC |
| 15.77 | % |
BANK ONE CORP |
| ONE |
| 15.42 | % |
HUDSON CITY BANCORP |
| HCBK |
| 15.38 | % |
UNIONBANCAL CORP |
| UB |
| 15.33 | % |
WEBSTER FINANCIAL CORP |
| WBS |
| 15.16 | % |
BANK OF NEW YORK CO INC |
| BK |
| 15.12 | % |
HIBERNIA CORP —CL A |
| HIB |
| 15.08 | % |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| 15.06 | % |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 14.93 | % |
REGIONS FINL CORP |
| RF |
| 14.83 | % |
SUNTRUST BANKS INC |
| STI |
| 14.67 | % |
BANKNORTH GROUP INC |
| BNK |
| 14.51 | % |
COMMERCE BANCSHARES INC |
| CBSH |
| 14.27 | % |
WESTCORP |
| WES |
| 14.24 | % |
STATE STREET CORP |
| STT |
| 13.90 | % |
NORTHERN TRUST CORP |
| NTRS |
| 13.81 | % |
COLONIAL BANCGROUP |
| CNB |
| 13.73 | % |
ZIONS BANCORPORATION |
| ZION |
| 13.69 | % |
WACHOVIA CORP |
| WB |
| 13.20 | % |
COMERICA INC. |
| CMA |
| 13.12 | % |
KEYCORP |
| KEY |
| 13.08 | % |
SOVEREIGN BANCORP INC |
| SOV |
| 12.33 | % |
BOK FINANCIAL CORP |
| BOKF |
| 11.69 | % |
M & T BANK CORP |
| MTB |
| 11.62 | % |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| 11.18 | % |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| 10.97 | % |
BB&T CORP |
| BBT |
| 10.72 | % |
MERCANTILE BANKSHARES CORP |
| MRBK |
| 10.69 | % |
|
|
|
|
|
|
AVERAGE |
|
|
| 16.31 | % |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
50.) TCF vs. Top 50 Banks* - Net Charge-Offs
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
NEW YORK CMNTY BANCORP INC |
| NYB |
| – | % |
NORTHERN TRUST CORP |
| NTRS |
| .08 | % |
MERCANTILE BANKSHARES CORP |
| MRBK |
| .11 | % |
NORTH FORK BANCORPORATION |
| NFB |
| .14 | % |
TCF FINANCIAL CORP |
| TCB |
| .16 | % |
MARSHALL & ILSLEY CORP |
| MI |
| .21 | % |
BANKNORTH GROUP INC |
| BNK |
| .23 | % |
WEBSTER FINANCIAL CORP |
| WBS |
| .25 | % |
M & T BANK CORP |
| MTB |
| .27 | % |
ASSOCIATED BANC CORP |
| ASBC |
| .30 | % |
WACHOVIA CORP |
| WB |
| .31 | % |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| .32 | % |
REGIONS FINL CORP |
| RF |
| .33 | % |
COMMERCE BANCORP INC/NJ |
| CBH |
| .34 | % |
SOUTHTRUST CORP |
| SOTR |
| .35 | % |
CITY NATIONAL CORP |
| CYN |
| .36 | % |
SUNTRUST BANKS INC |
| STI |
| .39 | % |
COLONIAL BANCGROUP |
| CNB |
| .41 | % |
COMMERCE BANCSHARES INC |
| CBSH |
| .46 | % |
HIBERNIA CORP —CL A |
| HIB |
| .50 | % |
FIRST TENNESSEE NATL CORP |
| FTN |
| .54 | % |
BB&T CORP |
| BBT |
| .54 | % |
SOVEREIGN BANCORP INC |
| SOV |
| .55 | % |
ZIONS BANCORPORATION |
| ZION |
| .55 | % |
BANK OF NEW YORK CO INC |
| BK |
| .57 | % |
FIFTH THIRD BANCORP |
| FITB |
| .60 | % |
AMSOUTH BANCORPORATION |
| ASO |
| .60 | % |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| .61 | % |
NATIONAL CITY CORP |
| NCC |
| .62 | % |
COMPASS BANCSHARES INC |
| CBSS |
| .62 | % |
J P MORGAN CHASE & CO |
| JPM |
| .72 | % |
BANK ONE CORP |
| ONE |
| .75 | % |
HUNTINGTON BANCSHARES |
| HBAN |
| .81 | % |
SYNOVUS FINANCIAL CP |
| SNV |
| .82 | % |
BOK FINANCIAL CORP |
| BOKF |
| .83 | % |
POPULAR INC |
| BPOP |
| .84 | % |
COMERICA INC. |
| CMA |
| .86 | % |
KEYCORP |
| KEY |
| .87 | % |
BANK OF AMERICA CORP |
| BAC |
| .87 | % |
UNION PLANTERS CORP |
| UPC |
| .89 | % |
CHARTER ONE FINANCIAL INC |
| CF |
| .98 | % |
WELLS FARGO & CO |
| WFC |
| 1.04 | % |
U S BANCORP |
| USB |
| 1.06 | % |
UNIONBANCAL CORP |
| UB |
| 1.09 | % |
HUDSON CITY BANCORP |
| HCBK |
| 1.10 | % |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 1.24 | % |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| 1.73 | % |
CITIGROUP INC |
| C |
| 1.89 | % |
WESTCORP |
| WES |
| 3.64 | % |
|
|
|
|
|
|
WEIGHTED AVERAGE |
|
|
| .93 | % |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
51.) TCF vs. Top 50 Banks* - Loan Loss Coverage
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
MERCANTILE BANKSHARES CORP |
| MRBK |
| 17.2 | X |
CITY NATIONAL CORP |
| CYN |
| 14.3 | X |
NORTHERN TRUST CORP |
| NTRS |
| 11.4 | X |
NORTH FORK BANCORPORATION |
| NFB |
| 7.1 | X |
MARSHALL & ILSLEY CORP |
| MI |
| 6.8 | X |
M & T BANK CORP |
| MTB |
| 6.3 | X |
BANKNORTH GROUP INC |
| BNK |
| 6.2 | X |
TCF FINANCIAL CORP |
| TCB |
| 5.9 | X |
ASSOCIATED BANC CORP |
| ASBC |
| 5.6 | X |
WEBSTER FINANCIAL CORP |
| WBS |
| 5.5 | X |
WACHOVIA CORP |
| WB |
| 5.4 | X |
COMMERCE BANCORP INC/NJ |
| CBH |
| 4.5 | X |
BANK OF NEW YORK CO INC |
| BK |
| 4.4 | X |
REGIONS FINL CORP |
| RF |
| 4.3 | X |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| 4.2 | X |
SOUTHTRUST CORP |
| SOTR |
| 4.1 | X |
COMMERCE BANCSHARES INC |
| CBSH |
| 3.7 | X |
HIBERNIA CORP —CL A |
| HIB |
| 3.6 | X |
COLONIAL BANCGROUP |
| CNB |
| 3.3 | X |
BANK ONE CORP |
| ONE |
| 3.2 | X |
CHARTER ONE FINANCIAL INC |
| CF |
| 3.1 | X |
SUNTRUST BANKS INC |
| STI |
| 3.0 | X |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| 3.0 | X |
J P MORGAN CHASE & CO |
| JPM |
| 2.9 | X |
KEYCORP |
| KEY |
| 2.6 | X |
ZIONS BANCORPORATION |
| ZION |
| 2.5 | X |
BB&T CORP |
| BBT |
| 2.5 | X |
SOVEREIGN BANCORP INC |
| SOV |
| 2.5 | X |
FIFTH THIRD BANCORP |
| FITB |
| 2.5 | X |
FIRST TENNESSEE NATL CORP |
| FTN |
| 2.4 | X |
POPULAR INC |
| BPOP |
| 2.4 | X |
COMPASS BANCSHARES INC |
| CBSS |
| 2.3 | X |
AMSOUTH BANCORPORATION |
| ASO |
| 2.2 | X |
BOK FINANCIAL CORP |
| BOKF |
| 2.2 | X |
UNIONBANCAL CORP |
| UB |
| 2.0 | X |
COMERICA INC. |
| CMA |
| 2.0 | X |
BANK OF AMERICA CORP |
| BAC |
| 2.0 | X |
MELLON FINANCIAL CORP |
| MEL |
| 1.9 | X |
U S BANCORP |
| USB |
| 1.9 | X |
NATIONAL CITY CORP |
| NCC |
| 1.8 | X |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 1.8 | X |
WELLS FARGO & CO |
| WFC |
| 1.8 | X |
SYNOVUS FINANCIAL CP |
| SNV |
| 1.7 | X |
HUNTINGTON BANCSHARES |
| HBAN |
| 1.6 | X |
UNION PLANTERS CORP |
| UPC |
| 1.5 | X |
CITIGROUP INC |
| C |
| 1.4 | X |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| 1.0 | X |
WESTCORP |
| WES |
| .8 | X |
HUDSON CITY BANCORP |
| HCBK |
| .2 | X |
|
|
|
|
|
|
AVERAGE |
|
|
| 3.8 | X |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
52.) TCF vs. Top 50 Banks* - Net Interest Margin
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
WESTCORP |
| WES |
| 5.42 | % |
WELLS FARGO & CO |
| WFC |
| 5.08 | % |
UNIONBANCAL CORP |
| UB |
| 4.74 | % |
CITY NATIONAL CORP |
| CYN |
| 4.74 | % |
TCF FINANCIAL CORP |
| TCB |
| 4.54 | % |
U S BANCORP |
| USB |
| 4.49 | % |
ZIONS BANCORPORATION |
| ZION |
| 4.45 | % |
COMPASS BANCSHARES INC |
| CBSS |
| 4.34 | % |
COMMERCE BANCORP INC/NJ |
| CBH |
| 4.33 | % |
MERCANTILE BANKSHARES CORP |
| MRBK |
| 4.29 | % |
SYNOVUS FINANCIAL CP |
| SNV |
| 4.26 | % |
NORTH FORK BANCORPORATION |
| NFB |
| 4.24 | % |
NATIONAL CITY CORP |
| NCC |
| 4.20 | % |
BB&T CORP |
| BBT |
| 4.15 | % |
M & T BANK CORP |
| MTB |
| 4.09 | % |
HIBERNIA CORP —CL A |
| HIB |
| 4.07 | % |
COMMERCE BANCSHARES INC |
| CBSH |
| 4.04 | % |
COMERICA INC. |
| CMA |
| 3.95 | % |
POPULAR INC |
| BPOP |
| 3.95 | % |
NEW YORK CMNTY BANCORP INC |
| NYB |
| 3.94 | % |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| 3.92 | % |
UNION PLANTERS CORP |
| UPC |
| 3.90 | % |
ASSOCIATED BANC CORP |
| ASBC |
| 3.84 | % |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 3.81 | % |
KEYCORP |
| KEY |
| 3.80 | % |
FIRST TENNESSEE NATL CORP |
| FTN |
| 3.78 | % |
AMSOUTH BANCORPORATION |
| ASO |
| 3.73 | % |
WACHOVIA CORP |
| WB |
| 3.72 | % |
BANKNORTH GROUP INC |
| BNK |
| 3.66 | % |
MARSHALL & ILSLEY CORP |
| MI |
| 3.65 | % |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| 3.64 | % |
FIFTH THIRD BANCORP |
| FITB |
| 3.62 | % |
SOUTHTRUST CORP |
| SOTR |
| 3.51 | % |
REGIONS FINL CORP |
| RF |
| 3.51 | % |
HUNTINGTON BANCSHARES |
| HBAN |
| 3.49 | % |
COLONIAL BANCGROUP |
| CNB |
| 3.45 | % |
BANK ONE CORP |
| ONE |
| 3.44 | % |
BOK FINANCIAL CORP |
| BOKF |
| 3.43 | % |
SOVEREIGN BANCORP INC |
| SOV |
| 3.42 | % |
BANK OF AMERICA CORP |
| BAC |
| 3.36 | % |
WEBSTER FINANCIAL CORP |
| WBS |
| 3.14 | % |
SUNTRUST BANKS INC |
| STI |
| 3.08 | % |
CHARTER ONE FINANCIAL INC |
| CF |
| 2.94 | % |
HUDSON CITY BANCORP |
| HCBK |
| 2.65 | % |
MELLON FINANCIAL CORP |
| MEL |
| 2.64 | % |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| 2.18 | % |
BANK OF NEW YORK CO INC |
| BK |
| 2.15 | % |
J P MORGAN CHASE & CO |
| JPM |
| 2.12 | % |
NORTHERN TRUST CORP |
| NTRS |
| 1.73 | % |
STATE STREET CORP |
| STT |
| 1.42 | % |
|
|
|
|
|
|
AVERAGE |
|
|
| 3.66 | % |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
53.) TCF vs. Top 50 Banks* - Price/Est. Forward EPS
Year Ended December 31, 2003 |
|
|
|
|
|
|
|
|
|
|
|
HUDSON CITY BANCORP |
| HCBK |
| 30.54 | X |
SYNOVUS FINANCIAL CP |
| SNV |
| 20.66 | X |
NORTHERN TRUST CORP |
| NTRS |
| 19.95 | X |
STATE STREET CORP |
| STT |
| 19.01 | X |
FIFTH THIRD BANCORP |
| FITB |
| 17.64 | X |
BANK OF NEW YORK CO INC |
| BK |
| 17.52 | X |
NEW YORK CMNTY BANCORP INC |
| NYB |
| 17.30 | X |
MELLON FINANCIAL CORP |
| MEL |
| 17.26 | X |
COMMERCE BANCORP INC/NJ |
| CBH |
| 16.94 | X |
M & T BANK CORP |
| MTB |
| 16.49 | X |
FLEETBOSTON FINANCIAL CORP |
| FBF |
| 15.70 | X |
MERCANTILE BANKSHARES CORP |
| MRBK |
| 15.45 | X |
COMMERCE BANCSHARES INC |
| CBSH |
| 15.42 | X |
CITY NATIONAL CORP |
| CYN |
| 15.30 | X |
NATIONAL COMMERCE FINANCIAL |
| NCF |
| 14.83 | X |
MARSHALL & ILSLEY CORP |
| MI |
| 14.71 | X |
SOVEREIGN BANCORP INC |
| SOV |
| 14.48 | X |
COMERICA INC. |
| CMA |
| 14.45 | X |
WELLS FARGO & CO |
| WFC |
| 14.43 | X |
SOUTHTRUST CORP |
| SOTR |
| 14.36 | X |
NORTH FORK BANCORPORATION |
| NFB |
| 14.35 | X |
SUNTRUST BANKS INC |
| STI |
| 14.05 | X |
BOK FINANCIAL CORP |
| BOKF |
| 13.93 | X |
TCF FINANCIAL CORP |
| TCB |
| 13.92 | X |
BANKNORTH GROUP INC |
| BNK |
| 13.84 | X |
UNION PLANTERS CORP |
| UPC |
| 13.75 | X |
COLONIAL BANCGROUP |
| CNB |
| 13.75 | X |
COMPASS BANCSHARES INC |
| CBSS |
| 13.66 | X |
ZIONS BANCORPORATION |
| ZION |
| 13.66 | X |
U S BANCORP |
| USB |
| 13.66 | X |
HUNTINGTON BANCSHARES |
| HBAN |
| 13.64 | X |
UNIONBANCAL CORP |
| UB |
| 13.60 | X |
BB&T CORP |
| BBT |
| 13.42 | X |
BANK ONE CORP |
| ONE |
| 13.37 | X |
PROVIDENT FINANCIAL GRP INC |
| PFGI |
| 13.37 | X |
PNC FINANCIAL SVCS GROUP INC |
| PNC |
| 13.19 | X |
ASSOCIATED BANC CORP |
| ASBC |
| 13.17 | X |
AMSOUTH BANCORPORATION |
| ASO |
| 13.03 | X |
HIBERNIA CORP —CL A |
| HIB |
| 12.99 | X |
POPULAR INC |
| BPOP |
| 12.81 | X |
KEYCORP |
| KEY |
| 12.80 | X |
CITIGROUP INC |
| C |
| 12.61 | X |
WACHOVIA CORP |
| WB |
| 12.52 | X |
REGIONS FINL CORP |
| RF |
| 12.44 | X |
CHARTER ONE FINANCIAL INC |
| CF |
| 12.25 | X |
WEBSTER FINANCIAL CORP |
| WBS |
| 12.04 | X |
FIRST TENNESSEE NATL CORP |
| FTN |
| 11.73 | X |
NATIONAL CITY CORP |
| NCC |
| 11.62 | X |
J P MORGAN CHASE & CO |
| JPM |
| 11.51 | X |
BANK OF AMERICA CORP |
| BAC |
| 11.26 | X |
WESTCORP |
| WES |
| 10.44 | X |
|
|
|
|
|
|
AVERAGE |
|
|
| 14.62 | X |
* Represents the fifty largest bank holding companies in the U.S. based on asset size at 12/31/03
Source: Citigate Financial Intelligence
54.) Total Market Returns*
At March 31, 2004
|
| Annualized |
| ||||||
|
| 1 Year |
| 3 Years |
| 5 Years |
| 10 Years |
|
TCF Stock |
| 31.27 | % | 13.44 | % | 17.47 | % | 23.91 | % |
S&P Bank Composite |
| 31.37 | % | 5.50 | % | 2.21 | % | 12.67 | % |
S&P 500 Index |
| 35.12 | % | .63 | % | (1.20 | )% | 11.68 | % |
S&P MidCap Index |
| 49.10 | % | 10.71 | % | 11.76 | % | 14.93 | % |
Dow Jones Industrial Average |
| 32.37 | % | 3.64 | % | 3.01 | % | 13.22 | % |
* Assumes dividend reinvestment
Source: SIT Investment Associates, Inc.
55.) Return to Shareholders1 + 24%*
|
| Index Value |
| |||||||||||||||||||||||||||||||
Period Ending |
| 3/31/1994 |
| 3/31/1995 |
| 3/31/1996 |
| 3/31/1997 |
| 3/31/1998 |
| 3/31/1999 |
| 3/31/2000 |
| 3/31/2001 |
| 3/31/2002 |
| 3/31/2003 |
| 3/31/2004 |
| |||||||||||
|
|
|
|
|
|
|
|
|
|
|
| ($) |
|
|
|
|
|
|
|
|
|
|
| |||||||||||
TCF Financial Corporation |
| $ | 100.00 |
| $ | 145.26 |
| $ | 249.97 |
| $ | 278.62 |
| $ | 486.13 |
| $ | 382.86 |
| $ | 359.69 |
| $ | 586.95 |
| $ | 836.36 |
| $ | 653.17 |
| $ | 857.44 |
|
S&P 500 |
| $ | 100.00 |
| $ | 115.66 |
| $ | 152.96 |
| $ | 183.32 |
| $ | 271.88 |
| $ | 322.76 |
| $ | 382.00 |
| $ | 298.86 |
| $ | 299.95 |
| $ | 225.62 |
| $ | 305.34 |
|
SNL All Bank & Thrift Index |
| $ | 100.00 |
| $ | 110.69 |
| $ | 168.14 |
| $ | 226.17 |
| $ | 362.08 |
| $ | 357.41 |
| $ | 338.99 |
| $ | 389.92 |
| $ | 433.86 |
| $ | 373.28 |
| $ | 541.39 |
|
¹ Assumes $100 invested March 31, 1994 with dividends reinvested
* Annualized return since 3/31/94
Source: SNL Securities LC
56.) Cautionary Statement
This presentation contains “forward-looking” statements that deal with future results, plans or performance. In addition, TCF’s management may make such statements orally to the media, or to securities analysts, investors or others. Forward-looking statements deal with matters that do not relate strictly to historical facts. TCF’s future results may differ materially from historical performance and forward-looking statements about TCF’s expected financial results or other plans are subject to a number of risks and uncertainties. These include but are not limited to possible legislative changes and adverse economic, business and competitive developments such as shrinking interest margins; deposit outflows; ability to increase the number of checking accounts and the possibility that deposit account losses (fraudulent checks, etc.) may increase; reduced 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; changes in accounting policies and guidelines, or monetary, fiscal or tax policies of the federal or state governments; changes in credit and other risks posed by TCF’s loan, lease and investment portfolios, including declines in commercial or residential real estate values; technological, computer-related or operational difficulties; adverse changes in securities markets; the risk that TCF could be unable to effectively manage the volatility of its mortgage banking business, which could adversely affect earnings; and results of litigation or other significant uncertainties. Investors should consult TCF’s Annual Report to Shareholders and reports on Forms 10-K, 10-Q and 8-K for additional important information about the Company.
57.) NYSE: TCB
The Leader In Convenience Banking
Stock Price Performance
(In Dollars)
Year-Ending |
| Stock Price |
| Dividend Paid |
|
| ||
Dec-93 |
| $ | 8.50 |
| $ | .17 |
|
|
Dec-94 |
| $ | 10.31 |
| $ | .25 |
|
|
Dec-95 |
| $ | 16.56 |
| $ | .30 |
|
|
Dec-96 |
| $ | 21.75 |
| $ | .36 |
|
|
Dec-97 |
| $ | 33.94 |
| $ | .47 |
|
|
Dec-98 |
| $ | 24.19 |
| $ | .61 |
|
|
Dec-99 |
| $ | 24.88 |
| $ | .73 |
|
|
Dec-00 |
| $ | 44.56 |
| $ | .83 |
|
|
Dec-01 |
| $ | 47.98 |
| $ | 1.00 |
|
|
Dec-02 |
| $ | 43.69 |
| $ | 1.15 |
|
|
Dec-03 |
| $ | 51.35 |
| $ | 1.30 |
|
|
Mar-04 |
| $ | 51.07 |
| $ | 1.50 |
| (annualized) |
58.) Appendix
59.) Retail Distribution Growth
|
| 12/97 |
| 12/98 |
| 12/99 |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
|
|
| (# of branches) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Branches |
| 221 |
| 311 |
| 338 |
| 352 |
| 375 |
| 395 |
| 401 |
| 406 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Branch Openings: |
| 19 |
| 106 |
| 35 |
| 25 |
| 27 |
| 27 |
| 19 |
| 4 |
|
Anticipate opening 24 new branches during the remainder of 2004.
60.) Supermarket Branch Growth
|
| 12/97 |
| 12/98 |
| 12/99 |
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
|
|
| (#) |
| ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supermarket Branches |
| 63 |
| 160 |
| 195 |
| 213 |
| 234 |
| 244 |
| 237 |
| 240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Branch Openings: |
| 15 |
| 99 |
| 34 |
| 22 |
| 21 |
| 15 |
| 5 |
| 2 |
|
61.) Risk Based Capital
|
| 12/00 |
| 12/01 |
| 12/02 |
| 12/03 |
| 3/04 |
| |||||
|
| ($ millions) |
| |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Actual |
| $ | 826 |
| $ | 834 |
| $ | 851 |
| $ | 842 |
| $ | 870 |
|
Minimum Requirement |
| $ | 570 |
| $ | 593 |
| $ | 622 |
| $ | 628 |
| $ | 647 |
|
Well Capitalized Requirement |
| $ | 712 |
| $ | 741 |
| $ | 777 |
| $ | 785 |
| $ | 809 |
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Tier 1: |
| 10.66 | % | 10.24 | % | 9.96 | % | 9.75 | % | 9.78 | % | |||||
Total: |
| 11.59 | % | 11.26 | % | 10.95 | % | 10.73 | % | 10.76 | % | |||||
62.) Power Assets®
|
| TCF Bank |
|
|
| |||||||||||
|
| MN |
| Lakeshore |
| MI |
| CO |
| Consolidated |
| |||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||
March 31, 2004: |
|
|
|
|
|
|
|
|
|
|
| |||||
Consumer |
| $ | 1,557 |
| $ | 1,394 |
| $ | 683 |
| $ | 187 |
| $ | 3,821 |
|
Change* |
| 25 | % | 19 | % | 19 | % | 26 | % | 22 | % | |||||
Commercial Real Estate |
| $ | 703 |
| $ | 611 |
| $ | 648 |
| 2 |
| $ | 1,964 |
| |
Change* |
| – | % | 20 | % | – | % | – | % | 6 | % | |||||
Commercial Business |
| $ | 216 |
| $ | 130 |
| $ | 83 |
| – |
| $ | 429 |
| |
Change* |
| (4 | )% | 22 | % | (29 | )% | – | % | (4 | )% | |||||
Leasing & Equipment Finance |
| – |
| – |
| – |
| – |
| $ | 1,256 |
| ||||
Change* |
| – | % | – | % | – | % | – | % | 20 | % | |||||
Total |
| $ | 2,476 |
| $ | 2,135 |
| $ | 1,414 |
| $ | 189 |
| $ | 7,470 |
|
Change* |
| 14 | % | 20 | % | 6 | % | 27 | % | 15 | % | |||||
* Change from March 31, 2003
63.) Leasing and Equipment Finance
Power Assets®
($ 000s)
|
| 3/31/04 |
| 12/31/03 |
| Change |
| |||
Technology and data processing |
| $ | 239,640 |
| $ | 249,515 |
| $ | (9,875 | ) |
Specialty vehicles |
| 225,365 |
| 225,073 |
| 292 |
| |||
Manufacturing |
| 212,541 |
| 198,321 |
| 14,220 |
| |||
Construction |
| 140,227 |
| 133,104 |
| 7,123 |
| |||
Medical |
| 125,425 |
| 33,462 |
| 91,963 |
| |||
Trucks and trailers |
| 84,113 |
| 89,262 |
| (5,149 | ) | |||
Furniture and fixtures |
| 51,674 |
| 54,052 |
| (2,378 | ) | |||
Printing |
| 39,715 |
| 38,977 |
| 738 |
| |||
Material handling |
| 26,809 |
| 27,111 |
| (302 | ) | |||
Aircraft |
| 24,152 |
| 23,965 |
| 187 |
| |||
Other |
| 86,716 |
| 87,555 |
| (839 | ) | |||
Total |
| $ | 1,256,377 |
| $ | 1,160,397 |
| $ | 95,980 |
|
64.) Leasing and Equipment Finance
Summary of Operations
($ 000s)
For the Three Months Ended March 31: |
| 2004 |
| 2003 |
| Change |
| |||
Net interest income |
| $ | 12,459 |
| $ | 10,452 |
| $ | 2,007 |
|
Provision for credit losses |
| 384 |
| 1,726 |
| (1,342 | ) | |||
Non-interest income |
| 10,395 |
| 13,607 |
| (3,212 | ) | |||
Non-interest expense |
| 9,380 |
| 10,366 |
| (986 | ) | |||
Pre-tax income |
| 13,090 |
| 11,967 |
| 1,123 |
| |||
Income tax expense |
| 4,678 |
| 4,444 |
| 234 |
| |||
Net Income |
| $ | 8,412 |
| $ | 7,523 |
| $ | 889 |
|
|
|
|
|
|
|
|
| |||
ROA |
| 2.69 | % | 2.76 | % |
|
| |||
65.) Leasing and Equipment Finance
Credit Quality
Over 30-day delinquency as a percentage of portfolio at: |
| 3/31/04 |
| 12/31/03 |
|
Middle market |
| .68 | % | .88 | % |
Winthrop |
| 1.44 |
| 1.14 |
|
Wholesale |
| .66 |
| .29 |
|
Small ticket |
| 1.38 |
| .56 |
|
Leveraged leases |
| – |
| – |
|
Subtotal |
| .93 |
| .81 |
|
Truck and trailer |
| 3.67 |
| 3.66 |
|
Total |
| 1.02 |
| .93 |
|
66.) Net Charge-offs
|
| 2000 |
| 2001 |
| 2002 |
| 2003 |
| 2004 |
| |||||||
|
|
|
|
|
| ($ millions) |
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
First Quarter |
| $ | – |
| $ | .9 |
| $ | 8.7 |
| $ | 1.9 |
| $ | .5 |
| ||
Second Quarter |
| $ | 1.2 |
| $ | 3.9 |
| $ | 5.0 |
| $ | 3.2 |
| $ | – |
| ||
Third Quarter |
| $ | .7 |
| $ | 2.1 |
| $ | 3.1 |
| $ | 1.7 |
| $ | – |
| ||
Fourth Quarter |
| $ | 2.0 |
| $ | 5.6 |
| $ | 3.2 |
| $ | 6.1 |
| $ | – |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Total |
| $ | 3.9 |
| $ | 12.5 |
| $ | 20.0 |
| $ | 12.9 |
| $ | .5 |
| ||
|
|
|
|
|
|
|
|
|
|
|
| |||||||
NCOs/Avg. Loans & Leases (annualized): |
| .05 | % | .15 | % | .25 | % | .16 | % | .02 | % | |||||||
67.) Net Charge-offs by Business Line
($ 000s)
|
| 1Q04 |
| 1Q03 |
| |||||||
|
| $ |
| %* |
| $ |
| %* |
| |||
Consumer |
| $ | 574 |
| .06 | % | $ | 1,045 |
| .14 | % | |
Commercial real estate |
| (33 | ) | (.01 | ) | 2 |
| – |
| |||
Commercial business |
| 73 |
| .07 |
| (84 | ) | (.08 | ) | |||
Leasing and equipment finance: |
|
|
|
|
|
|
|
|
| |||
Leasing and equipment finance without truck and trailer |
| (78 | ) | (.03 | ) | 789 |
| .33 |
| |||
Truck and trailer |
| (28 | ) | (.21 | ) | 182 |
| .76 |
| |||
Total leasing and equipment finance |
| (106 | ) | (.04 | ) | 971 |
| .37 |
| |||
Subtotal |
| 508 |
| .03 |
| 1,934 |
| .12 |
| |||
Residential real estate |
| 8 |
| – |
| (29 | ) | (.01 | ) | |||
Total |
| $ | 516 |
| .02 |
| $ | 1,905 |
| .09 |
| |
* Annualized
Glossary of Terms
Coverage Ratio
Period-end allowance for loan and lease losses as a multiple of annualized net charge-offs.
Earnings per Share
Net Income available to common shareholders divided by weighted average common and common equivalent shares outstanding during the period (diluted EPS).
Fee Revenue Per Retail Checking Account
Total fees associated with usage of retail and small business checking accounts divided by the average number of retail and small business checking accounts.
Fees and Other Revenue
Non-interest income excluding title insurance revenues (a business sold in 1999) and gains and losses on sales of securities, loan servicing, branches and other businesses.
Net Interest Margin
Annualized net interest income (before provision for credit losses) divided by average interest-earning assets for the period.
Power Assets®
Higher-yielding consumer, commercial real estate, commercial business, and leasing and equipment finance loans and leases.
Power Liabilities®
Core checking, savings, money market and certificates of deposit.
Return on Average Assets (ROA)
Annualized net income divided by average total assets for the period.
Return on Average Common Equity (ROE)
Annualized net income divided by average common stockholders’ equity for the period.
