TCF Financial 8-K Results of Operations and Financial Condition

Exhibit 99.1

NEWS RELEASE

CONTACT:	Jason Korstange
	(952) 745-2755
	www.TCFExpress.com
FOR IMMEDIATE RELEASE

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

TCF Reports Record Second Quarter Earnings and EPS ($.53, up 13 percent)

SECOND QUARTER HIGHLIGHTS

•Record diluted earnings per share of 53 cents

•Record net income of $70.6 million

•Return on average assets of 2.22 percent

•Record return on average common equity of 30.23 percent

•Average Power Assets^Ò increased $1.1 billion, or 15 percent

•Average Power Liabilities^Ò increased $571.9 million, or 7 percent

•Increased checking accounts by 36,094 to 1,595,001 accounts

•Opened six new branches during the quarter; 132 new branches since January 2000

EARNINGS SUMMARY

($ in thousands, except per-share data)

	Three Months								Six Months
	Ended June 30,								Ended June 30,
	2005			2004			Change		2005				2004				Change
Net income	$	70,641		$	65,218		8.3	%		$	134,106			$	125,879		6.5	%
Diluted earnings per common share	.53			.47			12.8			1.00				.91			9.9
Financial Ratios
Return on average assets	2.22		%	2.20		%				2.13		%		2.15		%
Return on average common equity	30.23			27.68						28.74				26.82
Net interest margin	4.53			4.53						4.54				4.52

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WAYZATA, MN, July 20, 2005 — TCF Financial Corporation (TCF) (NYSE: TCB) today reported record diluted earnings per share of 53 cents for the second quarter of 2005, compared with 47 cents for the same period of 2004.  Net income for the second quarter of 2005 was a record $70.6 million, compared with $65.2 million for the same period of 2004.  For the second quarter of 2005, return on average assets (“ROA”) was 2.22 percent and return on average common equity (“ROE”) was a record 30.23 percent, compared with 2.20 percent and 27.68 percent, respectively, for the second quarter of 2004.

Chairman’s Statement

“TCF’s earnings in the second quarter are the result of our long-term strategy of growing high quality Power Assets^Ò and Power Liabilities^Ò through new branch and product expansion,” said William A. Cooper, Chairman and CEO.  “During the second quarter, Power Asset and Power Liability growth remained strong and net checking account growth has significantly improved from recent quarters.  Our commitment to new branch and product expansion was evident with the opening of six new branches and the introduction of our new TCF Miles Plus Business Check Card^SM,” said Cooper.

Total Revenue

	Three Months
($ in thousands)	Ended June 30,
	2005			2004			$ Change			% Change
Net interest income	$	131,285		$	122,419		$	8,866		7.2	%
Fees and other revenue:
Fees and service charges	65,824			73,116			(7,292		)	(10.0	)
Card revenue	19,717			16,024			3,693			23.0
ATM revenue	10,795			11,138			(343		)	(3.1	)
Investments and insurance revenue	2,791			3,430			(639		)	(18.6	)
Total banking fees and other revenue	99,127			103,708			(4,581		)	(4.4	)
Leasing and equipment finance	11,092			12,245			(1,153		)	(9.4	)
Mortgage banking (1)	216			5,495			(5,279		)	(96.1	)
Other	2,833			1,845			988			53.6
Total fees and other revenue	113,268			123,293			(10,025		)	(8.1	)
Gains on sales of securities available for sale	4,437			-			4,437			100.0
Total non-interest income	$	117,705		$	123,293		$	(5,588	)	(4.5	)
Total revenue	$	248,990		$	245,712		$	3,278		1.3
Net interest margin	4.53		%	4.53		%
Fees and other revenue as a % of total revenue	45.49			50.18
Fees and other revenue as a % of average assets (2)	3.57			4.16

(1)Beginning in 2005, TCF’s mortgage banking business no longer originates or sells loans. See page 10 for additional information.

(2)Annualized.

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Net Interest Income

TCF’s net interest income in the second quarter of 2005 was $131.3 million, up $8.9 million, or 7 percent, from the second quarter of 2004 and up $2.2 million, or 2 percent, from the first quarter of 2005.  Net interest margin in the second quarter of 2005 was 4.53 percent, flat with the second quarter last year and down slightly from 4.56 percent in the first quarter of 2005. The increase in net interest income from the second quarter of 2004 was primarily driven by increases in average Power Assets and Power Liabilities, partially offset by relatively more expensive funding costs due to the mix in funding sources supporting the net growth in assets and the effect of a flattening yield curve.

Non-interest Income

Total non-interest income in the second quarter of 2005 was $117.7 million, down $5.6 million, or 5 percent, from the second quarter of 2004 primarily due to declines in fees and service charges, mortgage banking, and leasing and equipment finance revenues, partially offset by higher card revenues and gains on sales of securities.

Fees and service charges decreased $7.3 million, or 10 percent, from the second quarter of 2004.  “Banking fee growth, primarily deposit fees, have been a challenge for the banking industry and TCF,” said Cooper.  “TCF continues to monitor these trends, review its procedures and make adjustments. TCF is focusing on growth in the number of checking accounts to increase future fee revenue.  Fees and service charges were up $8.8 million or 15.4 percent from the first quarter of 2005.”

Card revenues totaled $19.7 million for the second quarter of 2005, up 23 percent over the same period in 2004.  The increase was primarily attributable to a 20 percent increase in customer transaction volumes.

Leasing and equipment finance revenues were $11.1 million for the second quarter of 2005, down $1.2 million, or 9 percent, from the 2004 second quarter primarily due to lower sales-type lease revenues, partially offset by higher operating lease and other revenues.  Sales type revenues may fluctuate from quarter to quarter based on customer driven factors not within the control of TCF.

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During the second quarter of 2005, TCF took advantage of market conditions and sold $441.5 million of mortgage-backed securities and realized gains of $4.4 million.  There were no sales in the second quarter of 2004.  For the six months ended June 30, 2005, TCF sold $907.5 million of mortgage-backed securities and realized gains of $9.7 million, compared to sales of $854 million and realized gains of $12.7 million for the comparable 2004 period.

New Branch Expansion

TCF opened six new branches during the second quarter of 2005, comprised of three traditional branches, two supermarket branches and one campus branch. TCF has now opened 132 new branches since January 2000. TCF plans to open 21 new branches in the remainder of 2005, consisting of 14 traditional branches, five supermarket branches and two campus branches, bringing the total number of new branch openings in 2005 to 28.

(# of branches)	June 30, 2005	June 30, 2004	December 31, 1999
Total Branches
Minnesota	102	100	82
Illinois	197	192	150
Wisconsin	34	34	31
Michigan	61	57	64
Colorado	35	22	10
Indiana	6	6	1
	435	411	338
New Branches*
Traditional	57	40
Supermarket	74	64
Campus	1	-
Total	132	104
% of Total Branches	30%	25%
* New branches opened since January 1, 2000.

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Additional information regarding the results of TCF’s new branches opened since January 1, 2000 is summarized as follows:

	At or For the Three Months Ended
	June 30,
($ in thousands)	2005		2004		Change		% Change
Number of checking accounts	238,850		177,530		61,320		34.5	%
Average deposits:
Checking	$	359,063	$	237,866	$	121,197	51.0
Savings	234,850		137,657		97,193		70.6
Money market	24,537		21,902		2,635		12.0
Subtotal	618,450		397,425		221,025		55.6
Certificates of deposit	186,870		54,389		132,481		N.M.
Total deposits	$	805,320	$	451,814	$	353,506	78.2
Total deposit fees and other revenue	$	17,219	$	13,414	$	3,805	28.4
N.M. Not meaningful.

Power Assets^®

TCF’s Power Asset lending operations continue to generate strong growth. TCF’s average consumer loan balances increased $772.4 million, or 20 percent; average commercial real estate loan balances increased $214.5 million, or 11 percent; and leasing and equipment finance average balances increased $126.5 million, or 10 percent, from the second quarter of 2004.

	Average Balances for the
	Three Months Ended June 30,
($ in thousands)	2005		2004		Change			% Change
Loans and leases*:
Consumer home equity and other
Home equity:
First mortgage lien	$	3,079,471	$	2,619,201	$	460,270		17.6	%
Junior lien	1,563,102		1,246,063		317,039			25.4
Total consumer home equity	4,642,573		3,865,264		777,309			20.1
Other	34,012		38,930		(4,918		)	(12.6	)
Total consumer home equity and other	4,676,585		3,904,194		772,391			19.8
Commercial real estate	2,200,008		1,985,498		214,510			10.8
Commercial business	432,923		428,602		4,321			1.0
Leasing and equipment finance	1,412,520		1,285,989		126,531			9.8
Power Assets	$	8,722,036	$	7,604,283	$	1,117,753		14.7
*Excludes residential real estate loans, loans held for sale and operating leases.

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Power Liabilities^®

“Growth in Power Liabilities continues to be driven by TCF’s new Premier Checking, Premier Savings and Plus eChecking products, along with strong growth in certificates of deposit,” said Cooper.  Average Power Liabilities totaled $8.4 billion for the second quarter of 2005, with an average interest rate of .98 percent. Average Power Liabilities increased $571.9 million, or 7 percent, from the second quarter of 2004.  The total number of checking accounts was 1,595,001 at June 30, 2005, up 92,145 accounts, or 6 percent, from June 30, 2004 and up 59,849 accounts, or 8 percent (annualized) from December 31, 2004.

	Average Balances for the
	Three Months Ended June 30,
($ in thousands)	2005			2004			Change			% Change
Non-interest bearing deposits:
Retail	$	1,589,015		$	1,538,051		$	50,964		3.3	%
Small business	571,701			492,305			79,396			16.1
Commercial and custodial	311,463			383,630			(72,167		)	(18.8	)
Total non-interest bearing deposits	2,472,179			2,413,986			58,193			2.4
Interest-bearing deposits:
Premier checking	580,093			151,801			428,292			N.M.
Other checking	1,075,421			1,175,623			(100,202		)	(8.5	)
Subtotal	1,655,514			1,327,424			328,090			24.7
Premier savings	345,567			31,949			313,618			N.M.
Other savings	1,603,720			1,806,267			(202,547		)	(11.2	)
Subtotal	1,949,287			1,838,216			111,071			6.0
Money market	633,762			799,485			(165,723		)	(20.7	)
Subtotal	4,238,563			3,965,125			273,438			6.9
Certificates of deposit	1,707,919			1,467,654			240,265			16.4
Total interest-bearing deposits	5,946,482			5,432,779			513,703			9.5
Power Liabilities	$	8,418,661		$	7,846,765		$	571,896		7.3
Total checking, savings and money market balances	$	6,710,742		$	6,379,111		$	331,631		5.2
Number of checking accounts, period-end	1,595,001			1,502,856			92,145			6.1
Average rate on deposits	.98		%	.49		%	49		bps	N/A
N.M. Not meaningful.

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Borrowings

Average total borrowings were $3 billion for the second quarter of 2005, down $94.5 million from the first quarter of 2005.  This decrease was primarily due to the increase in average Power Liabilities of $309.3 million exceeding the growth in average interest-earning assets of $183 million. The weighted average rate for borrowings was 3.76 percent for the second quarter of 2005, compared with 3.13 percent for the second quarter of 2004 and 3.46 percent for the first quarter of 2005.

Residential Real Estate Loans and Securities Available for Sale

                Average balances of residential real estate loans and securities available for sale (consisting primarily of mortgage-backed securities) totaled $2.6 billion for the second quarter of 2005, a decrease of $103.4 million from the second quarter of 2004. The residential real estate loans consist of first mortgage loans originated by TCF’s mortgage banking operations.  TCF no longer originates any new loans in its mortgage banking business so this portfolio will continue to decline from normal amortization and prepayments.  At June 30, 2005, the unrealized pre-tax gain on TCF’s securities available for sale portfolio was $2.5 million.

	Average Balances and Yields for the Three Months Ended									Change from
	June 30,			March 31,			June 30,			March 31,			June 30,
($ in thousands)	2005			2005			2004			2005			2004
Securities available for sale	$	1,646,986		$	1,663,412		1,546,694			$	(16,426	)	$	100,292
Residential real estate loans	919,379			984,764			1,123,062			(65,385		)	(203,683		)
Total	$	2,566,365		$	2,648,176		$	2,669,756		$	(81,811	)	$	(103,391	)
Yield	5.37		%	5.37		%	5.47		%	-		bps	(10		)	bps

Non-interest Expense

Non-interest expense totaled $150.2 million for the 2005 second quarter, up $6.3 million, or 4 percent, from $143.9 million for the 2004 second quarter. Compensation and employee benefits increased $2.4 million, or 3 percent, from the second quarter of 2004, of which $1.7 million related to new branches opened during the past 12 months offset by a $3.2 million decrease for mortgage banking.  Occupancy and equipment

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expenses increased $1.4 million, or 6 percent, from the second quarter of 2004, primarily related to costs associated with new branches opened during the past 12 months.  Deposit losses decreased $1.6 million from the second quarter of 2004, due to lower incidents and increased customer restitution from improved collection and customer retention activities.  Other expenses increased $3.9 million, or 13 percent, from the second quarter of 2004, primarily driven by a $1.8 million increase in foreclosed real estate expenses due to recoveries on property sales in 2004, a $1.3 million increase in operating lease depreciation expense in the leasing businesses and a $944 thousand increase in card processing and issuance expenses related to the overall increase in card revenues. 

	Three Months Ended June 30,				Change
($ in thousands)	2005		2004		$			%
Compensation and employee benefits	$	81,973	$	79,597	$	2,376		3.0	%
Occupancy and equipment	24,771		23,397		1,374			5.9
Advertising and promotions	6,778		6,498		280			4.3
Deposit losses	3,775		5,350		(1,575		)	(29.4	)
Other	32,950		29,064		3,886			13.4
Total non-interest expense	$	150,247	$	143,906	$	6,341		4.4

Credit Quality

At June 30, 2005, TCF’s allowance for loan and lease losses totaled $76.4 million, or .78 percent of loans and leases, compared with $80 million, or .90 percent, at June 30, 2004.  The provision for credit losses for the second quarter of 2005 was $1.4 million, compared with $3.1 million for the second quarter of 2004 or a decrease of $1.7 million primarily due to improvements in commercial loan credit quality.  Net loan and lease charge-offs were $1.9 million, or .08 percent (annualized) of average loans and leases, in the 2005 second quarter, down from $2.1 million, or .10 percent (annualized), for the same period of 2004. “Our emphasis on secured lending has contributed to TCF’s continued solid credit quality,” said Cooper, “and our credit quality continues to rank among the best in the industry.” At June 30, 2005, TCF’s over-30-day delinquency rate was .­­33 percent, down from .44 percent at June 30, 2004. Non-accrual loans and leases were

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$41.7 million, or ..43 percent of net loans and leases, at June 30, 2005, compared with $36.8 million, or .41 percent, at June 30, 2004.  Total non-performing assets were $59 million at June 30, 2005, up from $56.6 million at June 30, 2004, while the percentage of total non-performing assets to total assets remained the same at .47 percent.  The increase in non-accrual loans and leases was primarily due to placing the Delta Airlines, Inc. (“Delta”) leveraged lease on non-accrual status in the third quarter of 2004, partially offset by lower commercial real estate non-accrual loans.  Although Delta is current on its payments related to this transaction, if Delta declares bankruptcy, it could result in the charge-off of all or part of TCF’s $18.8 million gross investment in the leveraged lease and the current payment of previously deferred income tax obligations.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
($ in thousands)	2005			2004			2005			2004
Allowance for loan and lease losses:
Balance at beginning of period	$	76,883		$	79,054		$	79,878		$	76,619
Net (charge-offs) recoveries:
Consumer home equity and other	(1,016		)	(719		)	(2,325		)	(1,293		)
Commercial real estate	3			15			(34		)	48
Commercial business	31			16			2,468			(57		)
Leasing and equipment finance	(911		)	(1,378		)	(1,525		)	(1,272		)
Residential real estate	(11		)	(33		)	(47		)	(41		)
Total	(1,904		)	(2,099		)	(1,463		)	(2,615		)
Provision for credit losses	1,427			3,070			(2,009		)	4,230
Acquired allowance	-			-			-			1,791
Balance at end of period	$	76,406		$	80,025		$	76,406		$	80,025
Key Indicators:
Allowance for loans and leases as a percentage of total loans and leases	.78		%	.90		%
Annualized net charge-offs as a percentage of average loans and leases	.08		%	.10		%	.03		%	.06		%
Period-end allowance as a multiple of annualized net charge-offs	10.0		X	9.5		X	26.1		X	15.3		X
Income before income taxes and provision for loan losses as a multiple of net charge-offs	51.9		X	48.5		X	131.1		X	74.5		X

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Mortgage Banking

                At June 30, 2005, TCF’s mortgage servicing portfolio totaled $3.8 billion and the mortgage servicing rights asset totaled $39.9 million, or 1.05 percent of the related servicing portfolio, down from $4.8 billion and $51.3 million, respectively, at June 30, 2004. During the second quarter of 2005, TCF recorded a $1 million impairment charge to the mortgage servicing rights asset.  The following table summarizes the components of mortgage banking revenues.

	Three Months Ended
	June 30,
($ in thousands)	2005		2004		Change			% Change
Servicing income	$	3,604	$	4,339	$	(735	)	(16.9	)%
Less mortgage servicing rights:
Amortization	2,564		3,242		(678		)	(20.9	)
Impairment	1,000		-		1,000			100.0
Net servicing income	40		1,097		(1,057		)	(96.4	)
Gains on sales of loans *	-		3,873		(3,873		)	(100.0	)
Other income	176		525		(349		)	(66.5	)
Total mortgage banking revenue	$	216	$	5,495	$	(5,279	)	(96.1	)
* Beginning in 2005, TCF’s mortgage banking business no longer originates or sells loans.

Income Taxes

                TCF’s income tax expense was $26.7 million for the second quarter of 2005, or 27.41 percent of income before income tax expense, compared with $33.5 million, or 33.95 percent, for the comparable 2004 period.  The lower effective income tax rate in the second quarter of 2005 compared with the second quarter of  2004 is primarily due to a $5.2 million adjustment related to the clarification of existing tax legislation as well as a slight reduction in the expected 2005 annual effective income tax rate.

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Capital

During the second quarter of 2005, TCF’s Board of Directors authorized another program for the repurchase of up to five percent of the Company’s outstanding common stock, or 6.7 million shares.  This program is in addition to the existing program for repurchasing shares announced in July 2003.  During the second quarter of 2005, TCF repurchased 1,250,000 shares of its common stock at an average cost of $25.44 per share.  TCF has 7.1 million shares remaining in its stock repurchase program authorized by its Board of Directors.  Since 1997, TCF has repurchased 57.3 million shares of its stock, at an average cost of $18.08 per share.

			At June 30,								At December 31,
($ in thousands, except per-share data)				2005								2004
Stockholders’ equity	$	954,557						$		958,418
Stockholders’ equity to total assets	7.57				%			7.77					%
Book value per common share	$	7.12						$	6.99
Total risk-based capital	$	998,270				10.80	%	$		958,900				10.88	%
Total risk-based capital “well-capitalized” requirement	$	923,968				10.00	%	$		881,481				10.00	%
Excess risk-based capital over “well-capitalized” requirement	$	74,302				.80	%	$		77,419				.88	%

Website Information

                A live webcast of TCF’s conference call to discuss second quarter earnings will be hosted at TCF’s website, www.TCFExpress.com, on July 20, 2005 at 10:00 a.m., CDT.  Additionally, the webcast is 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, quarterly reports, investor presentations and SEC filings.

TCF is a Wayzata, Minnesota-based national financial holding company with $12.6 billion in assets.  TCF has 435 banking offices in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana.  Other TCF affiliates provide leasing and equipment finance, securities brokerage, and investments and insurance sales.

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Forward-looking Information

This earnings release and other reports issued by the Company, including reports filed with the SEC, may contain “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 standards or interpretations of existing standards, or monetary, fiscal or tax policies of the federal or state governments; adverse findings in tax audits; changes in credit and other risks posed by TCF’s loan, lease and investment portfolios, including declines in commercial or residential real estate values or a bankruptcy filing by Delta Airlines, the lessee under a leveraged lease in which TCF holds an equity interest; imposition of vicarious liability on TCF as lessor in its leasing operations; denial of insurance coverage for claims made by TCF; 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 servicing portfolio, 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.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

			Three Months Ended
			June 30,
	2005			2004		$ Change			% Change
Interest income:
Loans and leases	$	155,014		$	128,141	$	26,873		21.0	%
Securities available for sale	21,325			20,413		912			4.5
Loans held for sale	2,566			3,340		(774		)	(23.2	)
Investments	1,094			895		199			22.2
Total interest income	179,999			152,789		27,210			17.8
Interest expense:
Deposits	20,646			9,474		11,172			117.9
Borrowings	28,068			20,896		7,172			34.3
Total interest expense	48,714			30,370		18,344			60.4
Net interest income	131,285			122,419		8,866			7.2
Provision for credit losses	1,427			3,070		(1,643		)	(53.5	)
Net interest income after provision for credit losses	129,858			119,349		10,509			8.8
Non-interest income:
Fees and service charges	65,824			73,116		(7,292		)	(10.0	)
Card revenue	19,717			16,024		3,693			23.0
ATM revenue	10,795			11,138		(343		)	(3.1	)
Investments and insurance revenue	2,791			3,430		(639		)	(18.6	)
Subtotal	99,127			103,708		(4,581		)	(4.4	)
Leasing and equipment finance	11,092			12,245		(1,153		)	(9.4	)
Mortgage banking	216			5,495		(5,279		)	(96.1	)
Other	2,833			1,845		988			53.6
Fees and other revenue	113,268			123,293		(10,025		)	(8.1	)
Gains on sales of securities available for sale	4,437			-		4,437			100.0
Total non-interest income	117,705			123,293		(5,588		)	(4.5	)
Non-interest expense:
Compensation and employee benefits	81,973			79,597		2,376			3.0
Occupancy and equipment	24,771			23,397		1,374			5.9
Advertising and promotions	6,778			6,498		280			4.3
Deposit losses	3,775			5,350		(1,575		)	(29.4	)
Other	32,950			29,064		3,886			13.4
Total non-interest expense	150,247			143,906		6,341			4.4
Income before income tax expense	97,316			98,736		(1,420		)	(1.4	)
Income tax expense	26,675			33,518		(6,843		)	(20.4	)
Net income	$	70,641		$	65,218	$	5,423		8.3
Net income per common share:
Basic	$	.53		$	.47	$	.06		12.8
Diluted	$	.53		$	.47	$	.06		12.8
Dividends declared per common share	$	.2125		$	.1875	$	.025		13.3
Average common and common equivalent shares outstanding (in thousands):
Basic	132,410			137,503		(5,093		)	(3.7	)
Diluted	132,742			138,127		(5,385		)	(3.9	)

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14

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

			Six Months Ended
			June 30,
	2005			2004		$ Change			% Change
Interest income:
Loans and leases	$	301,558		$	253,414	$	48,144		19.0	%
Securities available for sale	42,820			40,745		2,075			5.1
Loans held for sale	4,820			6,181		(1,361		)	(22.0	)
Investments	2,146			1,668		478			28.7
Total interest income	351,344			302,008		49,336			16.3
Interest expense:
Deposits	36,584			20,013		16,571			82.8
Borrowings	54,422			41,083		13,339			32.5
Total interest expense	91,006			61,096		29,910			49.0
Net interest income	260,338			240,912		19,426			8.1
Provision for credit losses	(2,009)			4,230		(6,239		)	N.M.
Net interest income after provision for credit losses	262,347			236,682		25,665			10.8
Non-interest income:
Fees and service charges	122,855			132,775		(9,920		)	(7.5	)
Card revenue	37,359			29,515		7,844			26.6
ATM revenue	20,527			21,135		(608		)	(2.9	)
Investments and insurance revenue	5,644			6,892		(1,248		)	(18.1	)
Subtotal	186,385			190,317		(3,932		)	(2.1	)
Leasing and equipment finance	21,785			22,412		(627		)	(2.8	)
Mortgage banking	1,358			8,950		(7,592		)	(84.8	)
Other	10,649			4,073		6,576			161.5
Fees and other revenue	220,177			225,752		(5,575		)	(2.5	)
Gains on sales of securities available for sale	9,676			12,717		(3,041		)	(23.9	)
Total non-interest income	229,853			238,469		(8,616		)	(3.6	)
Non-interest expense:
Compensation and employee benefits	163,424			158,476		4,948			3.1
Occupancy and equipment	50,150			46,887		3,263			7.0
Advertising and promotions	13,025			12,408		617			5.0
Deposit losses	7,436			9,528		(2,092		)	(22.0	)
Other	64,323			57,313		7,010			12.2
Total non-interest expense	298,358			284,612		13,746			4.8
Income before income tax expense	193,842			190,539		3,303			1.7
Income tax expense	59,736			64,660		(4,924		)	(7.6	)
Net income	$	134,106		$	125,879	$	8,227		6.5
Net income per common share:
Basic	$	1.01		$	.91	$	.10		11.0
Diluted	$	1.00		$	.91	$	.09		9.9
Dividends declared per common share	$	.425		$	.375	$	.05		13.3
Average common and common equivalent shares outstanding (in thousands):
Basic	133,196			137,743		(4,547		)	(3.3	)
Diluted	133,563			138,341		(4,778		)	(3.5	)
N.M. Not meaningful.

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15

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands, except per-share data)

(Unaudited)

	At			At			At				% Change from
	June 30,			December 31,			June 30,				December 31,		June 30,
	2005			2004			2004				2004		2004
ASSETS
Cash and due from banks	$	361,158		$	359,798		$		357,227		.4	%	1.1	%
Investments	104,127			103,226			94,567				.9		10.1
Securities available for sale	1,406,575			1,619,941			1,588,372				(13.2	)	(11.4	)
Loans held for sale	213,227			154,279			359,387				38.2		(40.7	)
Loans and leases:
Consumer home equity and other	4,808,003			4,418,588			4,024,994				8.8		19.5
Commercial real estate	2,202,752			2,154,396			1,997,449				2.2		10.3
Commercial business	447,958			424,135			445,314				5.6		.6
Leasing and equipment finance	1,419,868			1,375,372			1,309,164				3.2		8.5
Subtotal	8,878,581			8,372,491			7,776,921				6.0		14.2
Residential real estate	884,141			1,014,166			1,091,678				(12.8	)	(19.0	)
Total loans and leases	9,762,722			9,386,657			8,868,599				4.0		10.1
Allowance for loan and lease losses	(76,406		)	(79,878		)	(80,025			)	(4.3	)	(4.5	)
Net loans and leases	9,686,316			9,306,779			8,788,574				4.1		10.2
Premises and equipment	339,619			326,667			305,052				4.0		11.3
Goodwill	152,599			152,599			152,599				-		-
Mortgage servicing rights	39,936			46,442			51,290				(14.0	)	(22.1	)
Other assets	303,659			270,836			245,795				12.1		23.5
	$	12,607,216		$	12,340,567		$	11,942,863			2.2		5.6
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Checking	$	4,019,685		$	3,905,987		$		3,607,692		2.9		11.4
Savings	2,046,068			1,927,872			1,945,675				6.1		5.2
Money market	629,731			659,686			768,394				(4.5	)	(18.0	)
Subtotal	6,695,484			6,493,545			6,321,761				3.1		5.9
Certificates of deposit	1,728,842			1,468,650			1,439,896				17.7		20.1
Total deposits	8,424,326			7,962,195			7,761,657				5.8		8.5
Short-term borrowings	1,045,582			1,056,111			869,576				(1.0	)	20.2
Long-term borrowings	1,899,047			2,048,492			2,065,870				(7.3	)	(8.1	)
Total borrowings	2,944,629			3,104,603			2,935,446				(5.2	)	.3
Accrued expenses and other liabilities	283,704			315,351			306,608				(10.0	)	(7.5	)
Total liabilities	11,652,659			11,382,149			11,003,711				2.4		5.9
Stockholders' equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 184,425,478; 184,939,094 and 184,991,948 shares issued	1,844			1,849			925				(.3	)	99.4
Additional paid-in capital	496,910			518,741			517,538				(4.2	)	(4.0	)
Retained earnings, subject to certain restrictions	1,462,393			1,385,760			1,308,265				5.5		11.8
Accumulated other comprehensive income (loss)	1,601			(1,415		)	(14,663			)	N.M.		N.M.
Treasury stock at cost, 50,301,984; 47,752,934 and 45,416,640 shares, and other	(1,008,191		)	(946,517		)	(872,913			)	6.5		15.5
Total stockholders' equity	954,557			958,418			939,152				(.4	)	1.6
	$	12,607,216		$	12,340,567		$		11,942,863		2.2		5.6
N.M. Not meaningful.

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16

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance for loan and lease losses:

	At or For the Six Months Ended June 30, 2005													At or For the Year Ended December 31, 2004
			Allowance																Allowance
			as a % of				Net Charge-offs (Recoveries) (1)												as a% of				Net Charge-offs
	Allowance		Portfolio				$				%			Allowance					Portfolio				$				%
Consumer home equity and other	$	15,783	.33		%		$		2,325		.10		%	$		9,939			.22			%	$		3,232		.08	%
Commercial real estate	20,448		.93				34				-			20,742					.96				476				.02
Commercial business	7,100		1.58				(2,468			)	(1.17		)	7,696					1.81				153				.04
Leasing and equipment finance	32,435		2.28				1,525				.22			24,566					1.79				5,545				.43
Unallocated (2)	-		-				-				-			16,139					-				-				-
Subtotal	75,766		.85				1,416				.03			79,082					.94				9,406				.12
Residential real estate	640		.07				47				.01			796					.08				73				.01
Total	$	76,406	.78				$	1,463			.03			$			79,878		.85				$		9,479		.11
Non-performing assets:							At				At			At					Change from
							June 30,				December 31,			June 30,					December 31,				June 30,
							2005				2004			2004					2004				2004
Non-accrual loans and leases:
Consumer home equity and other							$	10,324			$	12,187		$			11,718		$	(1,863	)		$		(1,394	)
Commercial real estate							-				1,093			6,750					(1,093		)		(6,750			)
Commercial business							2,660				4,533			3,490					(1,873		)		(830			)
Leasing and equipment finance							26,485				25,678			10,912					807				15,573
Residential real estate							2,230				3,387			3,886					(1,157		)		(1,656			)
Total non-accrual loans and leases							41,699				46,878			36,756					(5,179		)		4,943
Other real estate owned:
Residential real estate							12,479				11,726			10,790					753				1,689
Commercial real estate							4,799				5,465			9,078					(666		)		(4,279			)
Total other real estate owned							17,278				17,191			19,868					87				(2,590			)
Total non-performing assets							$	58,977			$	64,069		$			56,624		$	(5,092	)		$		2,353
Over 30-day delinquency data (3):			At June 30,								At December 31,								At June 30,
			2005								2004								2004
			Principal			% of					Principal				% of				Principal				% of
			Balances			Portfolio					Balances				Portfolio				Balances				Portfolio
Consumer home equity and other			$	16,406		.34				%	$	15,436			.35			%	$	15,078			.38			%
Commercial real estate			663			.03					32				-				101				.01
Commercial business			292			.07					404				.10				383				.09
Leasing and equipment finance			6,069			.44					8,997				.67				15,774				1.22
Residential real estate			8,617			.98					9,516				.94				7,597				.70
Total			$	32,047		.33					$	34,385			.37				$	38,933			.44
Potential Problem Loans and Leases (4):
						At					At				At				Change from
						June 30,					December 31,				June 30,				December 31,				June 30,
						2005					2004				2004				2004				2004
Commercial real estate						$		29,256			$	34,138			$		28,052		$	(4,882		)	$	1,204
Commercial business						21,997					18,112				14,999				3,885				6,998
Leasing and equipment finance						8,855					18,816				32,754				(9,961			)	(23,899			)
						$		60,108			$	71,066			$		75,805		$	(10,958		)	$	(15,697		)

(1)        Annualized.

(2)        In the second quarter of 2005, TCF refined its allowance for loan and lease losses allocation methodology resulting in the allocation of the entire allowance for

             loan and lease losses to the individual loan and lease portfolios.  This change allocates the previous unallocated portion of the allowance for loan and lease losses.

(3)        Excludes non-accrual loans and leases.

(4)        Consists of loans and leases primarily classified for regulatory purposes as substandard and reflect the distinct possibility, but not probability, that they will

             become non-performing or that TCF will not be able to collect all amounts due according to the contractual terms of the loan or lease agreement.

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17

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Three Months Ended June 30,
	2005							2004
	Average					Yields and			Average					Yields and
	Balance			Interest		Rates (1)			Balance			Interest		Rates (1)
ASSETS
Investments	$		101,305	$	1,094	4.33	%		$		157,591	$	895	2.28	%
Securities available for sale	1,646,986			21,325		5.18			1,546,694			20,413		5.28
Loans held for sale	213,279			2,566		4.83			385,193			3,340		3.49
Loans and leases:
Consumer home equity - variable rate	2,594,538			43,806		6.77			2,363,947			31,420		5.35
Consumer home equity - fixed rate	2,048,035			34,323		6.72			1,501,317			26,184		7.01
Consumer - other	34,012			779		9.19			38,930			805		8.32
Total consumer home equity and other	4,676,585			78,908		6.77			3,904,194			58,409		6.02
Commercial real estate - variable rate	834,876			11,903		5.72			767,681			7,766		4.07
Commercial real estate - fixed and adjustable rate	1,365,132			20,910		6.14			1,217,817			18,932		6.25
Total commercial real estate	2,200,008			32,813		5.98			1,985,498			26,698		5.41
Commercial business - variable rate	359,269			4,978		5.56			341,803			3,157		3.71
Commercial business - fixed and adjustable rate	73,654			1,056		5.75			86,799			1,201		5.57
Total commercial business	432,923			6,034		5.59			428,602			4,358		4.09
Leasing and equipment finance	1,412,520			24,133		6.83			1,285,989			22,610		7.03
Subtotal	8,722,036			141,888		6.52			7,604,283			112,075		5.92
Residential real estate	919,379			13,126		5.71			1,123,062			16,066		5.73
Total loans and leases	9,641,415			155,014		6.44			8,727,345			128,141		5.90
Total interest-earning assets	11,602,985			179,999		6.22			10,816,823			152,789		5.67
Other assets	1,099,048								1,039,455
Total assets	$	12,702,033							$	11,856,278
LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interest bearing deposits:
Retail	$	1,589,015							$	1,538,051
Small business	571,701								492,305
Commercial and custodial	311,463								383,630
Total non-interest bearing deposits	2,472,179								2,413,986
Interest-bearing deposits:
Premier checking	580,093			2,950		2.04			151,801			446		1.18
Other checking	1,075,421			561		.21			1,175,623			252		.09
Subtotal	1,655,514			3,511		.85			1,327,424			698		.21
Premier savings	345,567			2,160		2.51			31,949			108		1.36
Other savings	1,603,720			2,137		.53			1,806,267			1,471		.33
Subtotal	1,949,287			4,297		.88			1,838,216			1,579		.35
Money market	633,762			1,564		.99			799,485			727		.37
Subtotal	4,238,563			9,372		.89			3,965,125			3,004		.30
Certificates of deposit	1,707,919			11,274		2.65			1,467,654			6,470		1.77
Total interest-bearing deposits	5,946,482			20,646		1.39			5,432,779			9,474		.70
Total deposits	8,418,661			20,646		.98			7,846,765			9,474		.49
Borrowings:
Short-term borrowings	920,471			6,908		3.01			669,938			2,115		1.27
Long-term borrowings	2,075,264			21,160		4.09			2,017,232			18,781		3.74
Total borrowings	2,995,735			28,068		3.76			2,687,170			20,896		3.13
Total deposits and borrowings	11,414,396			48,714		1.71			10,533,935			30,370		1.16
Other liabilities	352,861								379,965
Total liabilities	11,767,257								10,913,900
Stockholders' equity	934,776								942,378
Total liabilities and stockholders' equity	$	12,702,033							$	11,856,278
Net interest income and margin				$	131,285	4.53	%					$	122,419	4.53	%
(1) Annualized.

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18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Six Months Ended June 30,
	2005						2004
	Average				Yields and			Average				Yields and
	Balance		Interest		Rates (1)			Balance		Interest		Rates (1)
ASSETS
Investments	$	103,643	$	2,146	4.17	%		$	149,681	$	1,668	2.24	%
Securities available for sale	1,655,154		42,820		5.17			1,533,034		40,745		5.32
Loans held for sale	210,371		4,820		4.62			372,215		6,181		3.34
Loans and leases:
Consumer home equity - variable rate	2,647,837		86,531		6.59			2,289,460		61,413		5.39
Consumer home equity - fixed rate	1,902,409		63,467		6.73			1,475,572		51,673		7.04
Consumer - other	35,023		1,564		9.01			40,096		1,629		8.17
Total consumer home equity and other	4,585,269		151,562		6.67			3,805,128		114,715		6.06
Commercial real estate - variable rate	838,009		22,772		5.48			755,222		15,339		4.08
Commercial real estate - fixed and adjustable rate	1,346,251		40,977		6.14			1,208,774		37,882		6.30
Total commercial real estate	2,184,260		63,749		5.89			1,963,996		53,221		5.45
Commercial business - variable rate	345,986		9,095		5.30			337,244		6,205		3.70
Commercial business - fixed and adjustable rate	74,307		2,100		5.70			90,969		2,494		5.51
Total commercial business	420,293		11,195		5.37			428,213		8,699		4.09
Leasing and equipment finance	1,401,094		47,924		6.84			1,240,112		43,478		7.01
Subtotal	8,590,916		274,430		6.43			7,437,449		220,113		5.95
Residential real estate	951,891		27,128		5.71			1,158,248		33,301		5.76
Total loans and leases	9,542,807		301,558		6.36			8,595,697		253,414		5.92
Total interest-earning assets	11,511,975		351,344		6.14			10,650,627		302,008		5.69
Other assets	1,086,604							1,040,334
Total assets	$	12,598,579						$	11,690,961
LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interest bearing deposits:
Retail	$	1,580,426						$	1,505,911
Small business	559,448							474,676
Commercial and custodial	312,543							354,242
Total non-interest bearing deposits	2,452,417							2,334,829
Interest-bearing deposits:
Premier checking	520,073		5,055		1.96			100,493		642		1.28
Other checking	1,082,442		924		.17			1,157,152		465		.08
Subtotal	1,602,515		5,979		.75			1,257,645		1,107		.18
Premier savings	313,725		3,811		2.45			15,975		108		1.36
Other savings	1,605,131		3,782		.48			1,807,703		3,205		.36
Subtotal	1,918,856		7,593		.80			1,823,678		3,313		.37
Money market	640,442		2,635		.83			816,090		1,495		.37
Subtotal	4,161,813		16,207		.79			3,897,413		5,915		.31
Certificates of deposit	1,650,619		20,377		2.49			1,523,881		14,098		1.86
Total interest-bearing deposits	5,812,432		36,584		1.27			5,421,294		20,013		.74
Total deposits	8,264,849		36,584		.89			7,756,123		20,013		.52
Borrowings:
Short-term borrowings	947,512		12,988		2.76			702,707		4,465		1.28
Long-term borrowings	2,095,205		41,434		3.99			1,914,870		36,618		3.84
Total borrowings	3,042,717		54,422		3.60			2,617,577		41,083		3.16
Total deposits and borrowings	11,307,566		91,006		1.62			10,373,700		61,096		1.18
Other liabilities	357,727							378,465
Total liabilities	11,665,293							10,752,165
Stockholders' equity	933,286							938,796
Total liabilities and stockholders' equity	$	12,598,579						$	11,690,961
Net interest income and margin			$	260,338	4.54	%				$	240,912	4.52	%
(1) Annualized.

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19

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME AND FINANCIAL RATIOS

(Dollars in thousands, except per-share data)

(Unaudited)

	Three Months Ended
	Jun. 30,			Mar. 31,				Dec. 31,				Sep. 30,			Jun. 30,
	2005			2005				2004				2004			2004
Interest income:
Loans and leases	$	155,014		$	146,544			$	140,469			$	133,295		$	128,141
Securities available for sale	21,325			21,495				19,484				20,414			20,413
Loans held for sale	2,566			2,254				2,421				2,931			3,340
Investments	1,094			1,052				1,014				773			895
Total interest income	179,999			171,345				163,388				157,413			152,789
Interest expense:
Deposits	20,646			15,938				12,250				10,318			9,474
Borrowings	28,068			26,354				24,649				22,605			20,896
Total interest expense	48,714			42,292				36,899				32,923			30,370
Net interest income	131,285			129,053				126,489				124,490			122,419
Provision for credit losses	1,427			(3,436		)		4,073				2,644			3,070
Net interest income after provision for credit losses	129,858			132,489				122,416				121,846			119,349
Non-interest income:
Fees and service charges	65,824			57,031				67,385				71,353			73,116
Card revenue	19,717			17,642				17,609				16,339			16,024
ATM revenue	10,795			9,732				10,326				11,474			11,138
Investments and insurance revenue	2,791			2,853				2,609				3,057			3,430
Subtotal	99,127			87,258				97,929				102,223			103,708
Leasing and equipment finance	11,092			10,693				21,047				6,864			12,245
Mortgage banking	216			1,142				(122		)		4,132			5,495
Other	2,833			7,816				7,457				2,584			1,845
Fees and other revenue	113,268			106,909				126,311				115,803			123,293
Gains on sales of securities available for sale	4,437			5,239				6,204				3,679			—
Total non-interest income	117,705			112,148				132,515				119,482			123,293
Non-interest expense:
Compensation and employee benefits	81,973			81,451				86,338				78,010			79,597
Occupancy and equipment	24,771			25,379				25,057				23,673			23,397
Advertising and promotions	6,778			6,247				6,568				7,377			6,498
Deposit losses	3,775			3,661				5,675				7,421			5,350
Other	32,950			31,373				30,758				31,445			29,064
Total non-interest expense	150,247			148,111				154,396				147,926			143,906
Income before income tax expense	97,316			96,526				100,535				93,402			98,736
Income tax expense	26,675			33,061				33,133				31,690			33,518
Net income	$	70,641		$	63,465			$	67,402			$	61,712		$	65,218
Net income per common share:
Basic	$	.53		$	.47			$	.50			$	.45		$	.47
Diluted	$	.53		$	.47			$	.50			$	.45		$	.47
Dividends declared per common share	$	.2125		$	.2125			$	.1875			$	.1875		$	.1875
Financial Ratios:
Return on average assets(1)	2.22		%	2.03			%	2.22			%	2.06		%	2.20		%
Return on average common equity(1)	30.23			27.18				28.35				25.96			27.68
Net interest margin(1)	4.53			4.56				4.56				4.56			4.53
Net charge-offs (recoveries) as a percentage of average loans and leases(1)	0.08			(.02		)		.14				.17			.10
Average total equity to average assets	7.36			7.48				7.81				7.94			7.95
(1) Annualized.

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20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)

	Jun. 30,				Mar. 31,				Dec. 31,				Sept. 30,			Jun. 30,
	2005				2005				2004				2004			2004
ASSETS
Cash and due from banks	$		331,110		$		332,800		$		350,497		$	351,383		$	347,551
Investments	101,305				106,006				105,603				94,910			157,591
Securities available for sale	1,646,986				1,663,412				1,534,776				1,545,768			1,546,694
Loans held for sale	213,279				207,430				254,617				327,953			385,193
Loans and leases:
Consumer home equity - variable rate	2,594,538				2,701,729				2,699,156				2,547,648			2,363,947
Consumer home equity - fixed rate	2,048,035				1,755,164				1,571,494				1,512,853			1,501,317
Consumer - other	34,012				36,046				37,403				39,068			38,930
Total consumer home equity and other	4,676,585				4,492,939				4,308,053				4,099,569			3,904,194
Commercial real estate - variable rate	834,876				841,176				805,219				769,225			767,681
Commercial real estate - fixed and adjustable rate	1,365,132				1,327,160				1,288,793				1,243,565			1,217,817
Total commercial real estate	2,200,008				2,168,336				2,094,012				2,012,790			1,985,498
Commercial business - variable rate	359,269				332,555				353,752				344,871			333,463
Commercial business - fixed and adjustable rate	73,654				74,968				76,906				95,139			95,139
Total commercial business	432,923				407,523				430,658				440,010			428,602
Leasing and equipment finance	1,412,520				1,389,541				1,341,985				1,320,495			1,285,989
Subtotal	8,722,036				8,458,339				8,174,708				7,872,864			7,604,283
Residential real estate	919,379				984,764				1,027,302				1,076,619			1,123,062
Total loans and leases	9,641,415				9,443,103				9,202,010				8,949,483			8,727,345
Allowance for loan and lease losses	(76,774			)	(79,918			)	(79,502			)	(80,077		)	(79,169		)
Net loans and leases	9,564,641				9,363,185				9,122,508				8,869,406			8,648,176
Premises and equipment	333,614				328,336				322,492				313,068			297,492
Goodwill	152,599				152,599				152,599				152,599			152,599
Mortgage servicing rights	42,218				45,101				49,746				51,380			50,876
Other assets	316,281				295,107				276,498				269,091			270,106
	$	12,702,033			$	12,493,976			$	12,169,336			$	11,975,558		$	11,856,278
LIABILITIES AND STOCKHOLDERS' EQUITY
Non-interest-bearing deposits:
Retail	$		1,589,015		$		1,571,740		$		1,493,344		$	1,512,434		$	1,538,051
Small business	571,701				547,060				557,103				525,466			492,305
Commercial and custodial	311,463				313,635				332,228				329,329			383,630
Total non-interest bearing deposits	2,472,179				2,432,435				2,382,675				2,367,229			2,413,986
Interest-bearing deposits:
Premier checking	580,093				459,385				343,266				248,217			151,801
Other checking	1,075,421				1,089,541				1,106,934				1,140,098			1,175,623
Subtotal	1,655,514				1,548,926				1,450,200				1,388,315			1,327,424
Premier savings	345,567				281,529				198,769				109,681			31,949
Other savings	1,603,720				1,606,560				1,621,810				1,717,789			1,806,267
Subtotal	1,949,287				1,888,089				1,820,579				1,827,470			1,838,216
Money market	633,762				647,197				685,885				738,769			799,485
Subtotal	4,238,563				4,084,212				3,956,664				3,954,554			3,965,125
Certificates of deposit	1,707,919				1,592,682				1,469,735				1,458,905			1,467,654
Total interest-bearing deposits	5,946,482				5,676,894				5,426,399				5,413,459			5,432,779
Total deposits	8,418,661				8,109,329				7,809,074				7,780,688			7,846,765
Borrowings:
Short-term borrowings	920,471				974,853				1,003,746				824,955			669,938
Long-term borrowings	2,075,264				2,115,369				2,045,505				2,059,525			2,017,232
Total borrowings	2,995,735				3,090,222				3,049,251				2,884,480			2,687,170
Accrued expenses and other liabilities	352,861				360,362				360,004				359,488			379,965
Total liabilities	11,767,257				11,559,913				11,218,329				11,024,656			10,913,900
Stockholders' equity:
Common stock	1,845				1,846				1,850				1,206			925
Additional paid-in capital	497,810				503,762				518,012				517,020			516,990
Retained earnings	1,431,903				1,394,163				1,360,169				1,318,461			1,282,080
Accumulated other comprehensive loss	(1,992			)	(4,139			)	(527			)	(2,781		)	(11,666		)
Treasury stock at cost and other	(994,790			)	(961,569			)	(928,497			)	(883,004		)	(845,951		)
	934,776				934,063				951,007				950,902			942,378
	$		12,702,033		$		12,493,976		$		12,169,336		$	11,975,558		$	11,856,278
Supplemental Information:
Securities available for sale	$		1,646,986		$		1,663,412		$		1,534,776		$	1,545,768		$	1,546,694
Residential real estate loans	919,379				984,764				1,027,302				1,076,619			1,123,062
Total securities available for sale and residential real estate loans	$		2,566,365		$		2,648,176		$		2,562,078		$	2,622,387		$	2,669,756

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21

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Jun. 30,		Mar. 31,		Dec. 31,		Sept. 30,		Jun. 30,
	2005		2005		2004		2004		2004
ASSETS
Investments	4.33	%	4.01	%	3.83	%	3.25	%	2.28	%
Securities available for sale	5.18		5.17		5.08		5.28		5.28
Loans held for sale	4.83		4.41		3.78		3.56		3.49
Loans and leases:
Consumer home equity - variable rate	6.77		6.41		6.00		5.57		5.35
Consumer home equity - fixed rate	6.72		6.73		6.78		6.85		7.01
Consumer - other	9.19		8.83		8.17		8.28		8.32
Total consumer home equity and other	6.77		6.56		6.30		6.06		6.02
Commercial real estate - variable rate	5.72		5.24		4.74		4.31		4.07
Commercial real estate - fixed and adjustable rate	6.14		6.13		6.14		6.21		6.25
Total commercial real estate	5.98		5.79		5.60		5.49		5.41
Commercial business - variable rate	5.56		5.02		4.48		4.04		3.71
Commercial business - fixed and adjustable rate	5.75		5.65		5.77		5.50		5.57
Total commercial business	5.59		5.14		4.71		4.32		4.09
Leasing and equipment finance	6.83		6.85		6.86		6.92		7.03
Subtotal	6.52		6.34		6.13		5.96		5.92
Residential real estate	5.71		5.70		5.69		5.72		5.73
Total loans and leases	6.44		6.27		6.08		5.93		5.90
Total interest-earning assets	6.22		6.06		5.87		5.75		5.67
LIABILITIES
Interest-bearing deposits:
Premier checking	2.04		1.86		1.65		1.32		1.18
Other checking	.21		.14		.10		.07		.09
Subtotal	.85		.65		.47		.29		.21
Premier savings	2.51		2.38		2.20		1.81		1.36
Other savings	.53		.42		.30		.31		.33
Subtotal	.88		.71		.51		.40		.35
Money market	.99		.67		.46		.38		.37
Subtotal	.89		.68		.49		.36		.30
Certificates of deposit	2.65		2.32		2.01		1.84		1.77
Total interest-bearing deposits	1.39		1.14		.90		.76		.70
Total deposits	.98		.80		.62		.53		.49
Borrowings:
Short-term borrowings	3.01		2.53		2.04		1.47		1.27
Long-term borrowings	4.09		3.88		3.80		3.78		3.74
Total borrowings	3.76		3.46		3.22		3.12		3.13
Total interest-bearing liabilities	1.71		1.53		1.35		1.23		1.16
Net interest margin	4.53	%	4.56	%	4.56	%	4.56	%	4.53	%
(1) Annualized.

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