Exhibit 99.1
TCF Financial Corporation
Investing in the Future
1.) Corporate Profile
At June 30, 2005
• $12.6 billion financial holding company headquartered in Minnesota - 47th largest1 bank in the U.S. based on asset size and 38th largest1 based on market cap
• 435 bank branches in six states
• 1,151 TCF EXPRESS TELLER® ATMs, 622 off-site
• 12th largest issuer of VISA® Classic debit cards2
• 22nd largest overall issuer of VISA® debit and credit cards2
• ROA 2.13%; ROE 28.74%; ROTE3 34.66%
• 1,595,001 checking accounts
1 Source: CapitalBridge, 3/31/05
2 Source: VISA® 1Q05
3 Excludes the impact of intangible amortization expense (See reconciliation slide in the appendix)
2.) Corporate Profile
At June 30, 2005
| | At 6/30/05 | | At 1/1/00 | |
Traditional | | 177 | | | 136 | | |
Supermarket | | 250 | | | 195 | | |
Campus | | 8 | | | 7 | | |
Total | | 435 | | | 338 | | |
| | At 6/30/05 | | At 1/1/00 | |
Minnesota | | 102 | | | 82 | | |
Illinois | | 197 | | | 150 | | |
Michigan | | 61 | | | 64 | | |
Wisconsin | | 34 | | | 31 | | |
Colorado | | 35 | | | 10 | | |
Indiana | | 6 | | | 1 | | |
Total | | 435 | | | 338 | | |
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, supermarket and campus branches
• TCF EXPRESS TELLER® ATMs
• Debit cards
• Phone banking
• TCF Totally Free OnlineSM banking (889,000 Internet banking accounts)
• 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 home equity and other loans, commercial real estate and business 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.
5.) Share Repurchase Program
• Repurchased 1,250,000 shares of common stock during the 2005 second quarter at an average cost of $25.44 per share
• Since 1/1/98:
• TCF repurchased 57 million shares at an average cost of $18.08 per share
• $1 billion investment
• $1.5 billion value at 6/30/05
• At 6/30/05, 7.1 million shares remain available to purchase under board authorizations
6.) Return of Net Income to Shareholders
| | Stock | | Dividends | | | | Net | | % of Net | |
| | Repurchase | | Paid | | Total | | Income | | Income | |
| | ($ millions) | |
| | | | | | | | | | | |
2001 | | $ | 148.0 | | $ | 77.5 | | $ | 225.5 | | $ | 207.3 | | 109 | % |
2002 | | 148.0 | | 86.5 | | 234.5 | | 232.9 | | 101 | |
2003 | | 150.4 | | 93.0 | | 243.4 | | 215.9 | | 113 | |
2004 | | 116.1 | | 104.0 | | 220.1 | | 255.0 | | 86 | |
2005* | | 82.4 | | 57.6 | | 140.0 | | 134.1 | | 104 | |
| | | | | | | | | | | |
Total | | $ | 644.9 | | $ | 418.6 | | $ | 1,063.5 | | $ | 1,045.2 | | 102 | % |
* Year-to-date
7.) Consumer Home Equity Lending +20%*
Loan-to-value
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
80% or less | | $ | 1,178.8 | | $ | 1,488.5 | | $ | 1,816.7 | | $ | 2,149.4 | | $ | 2,406.5 | |
Over 80 to 90% | | $ | 802.1 | | $ | 1,028.2 | | $ | 1,370.5 | | $ | 1,750.5 | | $ | 1,803.0 | |
Over 90 to 100% | | $ | 396.3 | | $ | 385.0 | | $ | 361.4 | | $ | 449.3 | | $ | 531.6 | |
Over 100% | | $ | 66.6 | | $ | 53.9 | | $ | 39.5 | | $ | 32.8 | | $ | 28.6 | |
| | | | | | | | | | | |
Total | | $ | 2,444 | | $ | 2,956 | | $ | 3,588 | | $ | 4,382 | | $ | 4,770 | |
* Twelve-month growth rate
8.) Consumer Home Equity Loans
At June 30, 2005
• 68% amortizing loans, 32% lines of credit
• 52% variable rate (prime based) and 48% fixed rate
• 66% are 1st mortgages, 34% are 2nd mortgages
• Average home value of $205,791
• Yield 6.78%
• Over-30-day delinquency rate .34%
• Net charge-offs: 2005 = .10%*, 2004 = .09%, 2003 = .11%
• Average loan-to-value 75%
• Average FICO score 718
* Annualized
9.) Commercial Lending +9%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Commercial Real Estate | | $ | 1,622.5 | | $ | 1,835.8 | | $ | 1,916.7 | | $ | 2,154.4 | | $ | 2,202.8 | |
Commercial Business | | $ | 422.4 | | $ | 440.1 | | $ | 427.7 | | $ | 424.1 | | $ | 448.0 | |
| | | | | | | | | | | |
Total | | $ | 2,045 | | $ | 2,276 | | $ | 2,344 | | $ | 2,579 | | $ | 2,651 | |
* Twelve-month growth rate
10.) Commercial Loans
At June 30, 2005
• Commercial real estate
• 25% apartment loans
• 20% office building loans
• 6% hotel loans
• Commercial business — $448 million
• Yield 5.63%
• Over-30-day delinquency rate .04%
• Net (recoveries) charge-offs: 2005 = (.19)%*, 2004 = .03% , 2003 = .09%
• Approximately 99% of all commercial loans secured
• CRE location mix: 94% Midwest, 6% Other
* Annualized
11.) Leasing and Equipment Finance +9%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Leasing and Equipment Finance | | $ | 957 | | $ | 1,039 | | $ | 1,160 | | $ | 1,375 | | $ | 1,420 | |
| | | | | | | | | | | | | | | | |
* Twelve-month growth rate
12.) Leasing and Equipment Finance
At June 30, 2005
• 38th largest equipment finance/leasing company in the U.S.1
• Equipment type
• 32% manufacturing and construction
• 17% specialty vehicle
• 15% technology and data processing
• 13% medical
• 23% other
• Yield 7.02%
• Uninstalled backlog of $227.3 million; up $32 million from year-end 2004
• Over-30-day delinquency rate .44%
• Net charge-offs: 2005 = .22%*, 2004 = .43%, 2003 = .69%
• $18.8 million leveraged lease with Delta Airlines
* Annualized
1 Source: Equipment Leasing Association; 6/05
13.) Allowance for Loan & Lease Losses
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Allowance for Loan & Lease Losses | | $ | 75.0 | | $ | 77.0 | | $ | 76.6 | | $ | 79.9 | | $ | 76.4 | |
Net Charge-offs (NCO) | | $ | 12.5 | | $ | 20.0 | | $ | 12.9 | | $ | 9.5 | | $ | 1.5 | |
| | | | | | | | | | | |
As a % of Loans & Leases: | | | | | | | | | | | |
Allowance | | .91 | % | .95 | % | .92 | % | .85 | % | .78 | % |
NCO | | .15 | % | .25 | % | .16 | % | .11 | % | .03 | % 1 |
Coverage Ratio | | 6.0 | X | 3.8 | X | 5.9 | X | 8.4 | X | 26.1 | X |
1 Annualized
14.) Delinquencies (Over 30-day)1
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Delinquencies | | $ | 46.8 | | $ | 46.3 | | $ | 38.7 | | $ | 34.4 | | $ | 32.0 | |
| | | | | | | | | | | |
Delinquencies (percent) | | .57 | % | .57 | % | .47 | % | .37 | % | .33 | % |
| | | | | | | | | | | | | | | | |
1 Excludes non-accrual loans and leases
15.) Non-Performing Assets
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Non-Accrual Loans and Leases | | $ | 52.0 | | $ | 43.6 | | $ | 35.4 | | $ | 46.9 | * | $ | 41.7 | * |
Real Estate Owned | | $ | 14.6 | | $ | 26.6 | | $ | 33.5 | | $ | 17.2 | | $ | 17.3 | |
Total | | $ | 66.6 | | $ | 70.2 | | $ | 68.9 | | $ | 64.1 | | $ | 59.0 | |
| | | | | | | | | | | |
Reserves/NAs: | | 144 | % | 176 | % | 216 | % | 170 | % | 183 | % |
NPAs/Assets: | | .59 | % | .58 | % | .61 | % | .52 | % | .47 | % |
*Includes Delta leveraged lease of $8.8 million
16.) Retail Banking
17.) Checking Accounts +6%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | (000s) | |
| | | | | | | | | | | |
Supermarket Branches | | 496 | | 549 | | 608 | | 652 | | 681 | |
Traditional & Campus Branches | | 753 | | 789 | | 836 | | 883 | | 914 | |
| | | | | | | | | | | |
Total | | 1,249 | | 1,338 | | 1,444 | | 1,535 | | 1,595 | |
* Twelve-month growth rate
18.) Banking Fees and Other Revenue1
| | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | |
| | ($ millions) | |
| | | | | | | | | | | |
First Quarter | | $ | 65.6 | | $ | 71.8 | | $ | 81.6 | | $ | 86.6 | | $ | 87.3 | |
Second Quarter | | $ | 74.7 | | $ | 84.1 | | $ | 92.6 | | $ | 103.7 | | $ | 99.1 | |
Third Quarter | | $ | 75.1 | | $ | 87.4 | | $ | 93.8 | | $ | 102.2 | | $ | — | |
Fourth Quarter | | $ | 77.6 | | $ | 91.1 | | $ | 90.0 | | $ | 97.9 | | $ | — | |
| | | | | | | | | | | |
Total | | $ | 293 | | $ | 334 | | $ | 358 | | $ | 390 | | $ | 186 | |
1 Consisting of fees and service charges, card revenue, ATM revenue, and investments and insurance revenue
19.) Retail Checking Deposits +12%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Supermarket Branches | | $ | 591 | | $ | 695 | | $ | 829 | | $ | 1,000 | | $ | 1,061 | |
Traditional & Campus Branches | | $ | 1,715 | | $ | 1,903 | | $ | 2,146 | | $ | 2,565 | | $ | 2,627 | |
| | | | | | | | | | | |
Total | | $ | 2,306 | | $ | 2,598 | | $ | 2,975 | | $ | 3,565 | | $ | 3,688 | |
| | | | | | | | | | | |
Average Rate: | | .07 | % | .05 | % | .01 | % | .22 | % | .42 | % |
* Twelve-month growth rate
20.) Retail Savings and Money Market Deposits
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Money Market | | $ | 879.9 | | $ | 791.3 | | $ | 745.8 | | $ | 590.6 | | $ | 549.9 | |
Savings | | $ | 1,113.4 | | $ | 1,794.6 | | $ | 1,771.1 | | $ | 1,812.9 | | $ | 1,933.2 | |
| | | | | | | | | | | |
Total | | $ | 1,993 | | $ | 2,586 | | $ | 2,517 | | $ | 2,404 | | $ | 2,483 | |
| | | | | | | | | | | |
Average Rate: | | .86 | % | .84 | % | .40 | % | .53 | % | .91 | % |
21.) Card Revenue +27%*
| | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | |
| | ($ millions) | |
| | | | | | | | | | | |
First Quarter | | $ | 8.1 | | $ | 10.2 | | $ | 13.2 | | $ | 13.5 | | $ | 17.6 | |
Second Quarter | | $ | 9.3 | | $ | 11.8 | | $ | 14.8 | | $ | 16.0 | | $ | 19.8 | |
Third Quarter | | $ | 10.1 | | $ | 12.1 | | $ | 12.9 | | $ | 16.3 | | $ | — | |
Fourth Quarter | | $ | 10.1 | | $ | 13.1 | | $ | 12.1 | | $ | 17.7 | | $ | — | |
| | | | | | | | | | | |
Total | | $ | 37.6 | | $ | 47.2 | | $ | 53.0 | | $ | 63.5 | | $ | 37.4 | |
| | | | | | | | | | | |
Sales Volume: | | $ | 2,560 | | $ | 3,216 | | $ | 3,899 | | $ | 4,735 | | $ | 2,684 | 1 |
| | | | | | | | | | | |
Average off-line interchange rate: | | 1.55 | % | 1.55 | % | 1.43 | % | 1.40 | % | 1.40 | %1 |
1 Year-to-date
* YTD growth rate (‘05 vs. ‘04)
22.) Card Revenue
• 12th largest issuer of Visa® Classic debit cards1
• 22nd largest overall issuer of Visa® debit and credit cards1
• 18% increase in sales volume2
• Revenue of $19.7 million in 2Q05, an increase of 23%2
• Number of active accounts up 50,544 or 7%2
• 15.3 transactions per month on active cards, up 14%2
1 Source: VISA, 1Q05
2 2Q05 vs. 2Q04
23.) Small Business Checking Deposits +14%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Small Business Checking Deposits | | $ | 313 | | $ | 380 | | $ | 461 | | $ | 546 | | $ | 583 | |
Average Rate | | 0 | % | 0 | % | 0 | % | 0 | % | 0 | % |
# of accounts | | 79,865 | | 91,385 | | 102,557 | | 113,605 | | 119,743 | |
| | | | | | | | | | | | | | | | |
* Twelve-month growth rate
24.) Small Business Checking Accounts
At June 30, 2005
• $583 million in 0% interest checking account deposits
• Small business loans up to $500,000; small business administration loans up to $150,000; home equity loans up to $500,000
• 73,323 TCF Business Check CardsSM
• Introduced TCF Miles Plus Business Check CardSM loyalty program to business banking customers
25.) | Total New Branches |
| Branches opened since January 1, 2000 |
| | | | Traditional | | | | # of Branches | | | |
| | Supermarket | | and Campus | | Total | | Opened | | Percent of Total | |
| | (#) | | | | | | | | | |
| | | | | | | | | | | |
12/00 | | 21 | | 3 | | 24 | | 25 | | 6.8 | % |
12/01 | | 41 | | 8 | | 49 | | 26 | | 13.1 | % |
12/02 | | 56 | | 20 | | 76 | | 27 | | 19.2 | % |
12/03 | | 61 | | 34 | | 95 | | 19 | | 23.7 | % |
12/04 | | 72 | | 53 | | 125 | | 30 | | 29.1 | % |
6/05 | | 74 | | 58 | | 132 | | 7 | | 30.3 | % |
2005 Forecast | | 79 | | 74 | | 153 | | 21 | | 33.6 | % |
26.) New Branch Model - Net Income
| | Year of Existence | |
| | 1 | | 2 | | 3 | | 4 | | 5 | | 6 | | 7 | | 8 | | 9 | | 10 | |
| | Net Income ($ 000s) | |
| | | | | | | | | | | | | | | | | | | | | |
Supermarket Branch | | $ | (220 | ) | $ | (48 | ) | $ | 31 | | $ | 90 | | $ | 132 | | $ | 177 | | $ | 204 | | $ | 235 | | $ | 269 | | $ | 294 | |
Traditional Branch | | $ | (362 | ) | $ | (32 | ) | $ | 157 | | $ | 320 | | $ | 384 | | $ | 491 | | $ | 570 | | $ | 555 | | $ | 630 | | $ | 692 | |
Capital Expenditure: $237,000 Supermarket branch, $3 million Traditional branch
Includes deposits and consumer lending
27.) | New Branch Total Deposits +80%* |
| Branches opened since January 1, 2000 |
| | 12/00 | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | | | |
Deposits | | $ | 52 | | $ | 97 | | $ | 250 | | $ | 353 | | $ | 570 | | $ | 843 | |
| | | | | | | | | | | | | | | | | | | |
* Twelve-month growth rate
28.) New Branch Total Checking Accounts +35%*
Branches opened since January 1, 2000
| | 12/00 | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | (000s) | |
| | | | | | | | | | | | | |
Checking Accounts | | 12 | | 42 | | 83 | | 142 | | 206 | | 239 | |
* Twelve-month growth rate
29.) New Branch Banking Fees & Other Revenue1 +38%*
Branches opened since January 1, 2000
| | 2000 | | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | |
| | ($ millions) | |
| | | | | | | | | | | | | |
First Quarter | | $ | — | | $ | 1.0 | | $ | 2.8 | | $ | 5.4 | | $ | 9.1 | | $ | 13.8 | |
Second Quarter | | $ | 0.2 | | $ | 1.6 | | $ | 4.1 | | $ | 7.3 | | $ | 13.4 | | $ | 17.2 | |
Third Quarter | | $ | 0.5 | | $ | 2.0 | | $ | 4.4 | | $ | 7.9 | | $ | 14.0 | | $ | — | |
Fourth Quarter | | $ | 0.8 | | $ | 2.6 | | $ | 5.4 | | $ | 8.4 | | $ | 14.5 | | $ | — | |
| | | | | | | | | | | | | |
Total | | $ | 2 | | $ | 7 | | $ | 17 | | $ | 29 | | $ | 51 | | $ | 31 | |
1 Consisting of fees and service charges, card revenue, ATM revenue, and investments and insurance revenue.
* Twelve-month growth rate
30.) Campus Banking
At June 30, 2005
• Alliances with the University of Minnesota and University of Michigan plus eight other colleges, including the latest agreement with DePaul University in Chicago
• 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.
• 85,980 total checking accounts
• $141.2 million in deposits
31.) New Products and Services
• Miles PlusSM Card Loyalty Programs
• Premier (Retail)
• Small Business
• TCF Check CashingSM and Money Transfers
• TCF Express Coin ServiceSM coin counters
• TCF index Investment StrategiesSM
• TCF Visa® Gift Card
• American Express® Travelers Cheque Card
• Medical equipment leasing
32.) Premier Checking & Savings Deposits +123%*
| | 6/30/04 | | 9/30/04 | | 12/31/04 | | 3/31/05 | | 6/30/05 | |
| | (000s) | |
Premier Checking Accounts | | $ | 202 | | $ | 291 | | $ | 397 | | $ | 525 | | $ | 627 | |
Premier Savings Accounts | | $ | 67 | | $ | 156 | | $ | 244 | | $ | 324 | | $ | 370 | |
Total | | $ | 269 | | $ | 447 | | $ | 641 | | $ | 849 | | $ | 997 | |
| | | | | | | | | | | |
Average Rate: | | 1.21 | % | 1.48 | % | 1.86 | % | 2.03 | % | 2.21 | % |
*Twelve-month growth rate
33.) Diluted EPS +10%*
| | 1996 | | 1997 | | 1998 | | 1999 | | 2000 | | 2001 | | 2002 | | 2003 | | 2004 | | 20051 | |
| | | | | | | | | | | | | | | | | | | | | |
Diluted EPS | | $ | .60 | | $ | .84 | | $ | .88 | | $ | 1.00 | | $ | 1.17 | | $ | 1.35 | | $ | 1.58 | | $ | 1.53 | | $ | 1.86 | | $ | 1.00 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
* Year-to-date growth rate (‘05 vs. ‘04)
1 Year-to-date
34.) Dividend History +13%*
| | 1996 | | 1997 | | 1998 | | 1999 | | 2000 | | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | |
| | | | | | | | | | | | | | | | | | | | | |
Dividends Paid | | $ | .18 | | $ | .23 | | $ | .31 | | $ | .36 | | $ | .41 | | $ | .50 | | $ | .58 | | $ | .65 | | $ | .75 | | $ | .43 | |
| | | | | | | | | | | | | | | | | | | | | |
Dividend payout ratio: | | 30 | % | 28 | % | 35 | % | 36 | % | 35 | % | 37 | % | 37 | % | 43 | % | 40 | % | 43 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
10-year compounded annual growth rate 20%
Ranks 6th of the Top 50 Banks1
1 Source: CapitalBridge
* Annual growth rate (‘05 vs. ‘04)
35.) Net Income +7%*
| | 2001 | | 2002 | | 2003 | | 2004 | | 20051 | |
| | ($ millions) | |
| | | | | | | | | | | |
First Quarter | | $ | 48.2 | | $ | 56.3 | | $ | 60.1 | | $ | 60.7 | | $ | 63.5 | |
Second Quarter | | $ | 52.0 | | $ | 58.0 | | $ | 60.3 | | $ | 65.2 | | $ | 70.6 | |
Third Quarter | | $ | 52.9 | | $ | 58.9 | | $ | 36.0 | | $ | 61.7 | | $ | — | |
Fourth Quarter | | $ | 54.2 | | $ | 59.8 | | $ | 59.5 | | $ | 67.4 | | $ | — | |
| | | | | | | | | | | |
Total | | $ | 207 | | $ | 233 | | $ | 216 | | $ | 255 | | $ | 134 | |
1 Year-to-date
* YTD growth rate (‘05 vs. ‘04)
36.) Net Interest Income +8%*
| | 2001 | | 2002 | | 2003 | | 2004 | | 20051 | |
| | ($ millions) | |
| | | | | | | | | | | |
First Quarter | | $ | 113.8 | | $ | 124.5 | | $ | 122.4 | | $ | 118.4 | | $ | 129.1 | |
Second Quarter | | $ | 119.3 | | $ | 124.3 | | $ | 119.8 | | $ | 122.4 | | $ | 131.3 | |
Third Quarter | | $ | 122.4 | | $ | 123.8 | | $ | 119.9 | | $ | 124.5 | | $ | — | |
Fourth Quarter | | $ | 125.7 | | $ | 126.6 | | $ | 119.1 | | $ | 126.5 | | $ | — | |
| | | | | | | | | | | |
Total | | $ | 481 | | $ | 499 | | $ | 481 | | $ | 492 | | $ | 260 | |
| | | | | | | | | | | |
Net Interest Margin: | | 4.51 | % | 4.71 | % | 4.54 | % | 4.54 | % | 4.54 | % 1 |
1 Year-to-date
* Year-to-date growth rate (‘05 vs. ‘04)
37.) Financial Highlights
($ millions, except per-share data)
| | Year-to-Date | | | |
| | 2005 | | 2004 | | Change |
Net interest income | | $ | 260.3 | | | $ | 240.9 | | | 8.1 | % |
Fees & other revenue: | | | | | | | | | |
Banking | | 186.4 | | | 190.3 | | | (2.1 | ) |
Other | | 33.8 | | | 35.5 | | | (4.8 | ) |
Total fees and other revenue | | 220.2 | | | 225.8 | | | (2.5 | ) |
Gains on Sales of Securities | | 9.7 | | | 12.7 | | | (23.6 | ) |
Total non-interest income | | 229.9 | | | 238.5 | | | (3.6 | ) |
Total revenue | | 490.2 | | | 479.4 | | | 2.3 | |
Provision for credit losses | | (2.0 | ) | | 4.2 | | | N.M. | |
Non-interest expense | | 298.4 | | | 284.6 | | | 4.8 | |
Net income | | $ | 134.1 | | | $ | 125.9 | | | 6.5 | |
| | | | | | | | | |
Diluted EPS | | $ | 1.00 | | | $ | .91 | | | 9.9 | |
ROA | | 2.13 | % | | 2.15 | % | | (0.02 | )bps |
ROE | | 28.74 | % | | 26.82 | % | | 1.92 | bps |
N.M. Not meaningful
38.) Power ProfitsSM
Average Balance ($ millions)
Profit center net income ($ 000s)
| | | | YTD 2005 | | | |
| | Balance | | Income | | % | |
Commercial Lending | | $ | 2,605 | | | $ | 16,099 | | | 12 | % |
Consumer Lending | | 4,585 | | | 27,979 | | | 21 | |
Leasing and Equipment Finance | | 1,401 | | | 17,048 | | | 13 | |
Total Power Assets® | | $ | 8,591 | | | 61,126 | | | 46 | |
| | | | | | | | | |
Traditional & Campus Branches (185) | | $ | 6,515 | | | 34,779 | | | 26 | |
Supermarket Branches (250) | | 1,750 | | | 14,261 | | | 11 | |
Total Power Liabilities® | | $ | 8,265 | | | 49,040 | | | 37 | |
Total Power Assets & Liabilities | | | | | 110,166 | | | 83 | |
Equity | | | | | 11,371 | | | 8 | |
Total Power Businesses | | | | | 121,537 | | | 91 | |
Gains on Sales of Securities | | | | | 9,676 | | | 7 | |
Treasury Services and Other | | | | | 2,893 | | | 2 | |
Net Income | | | | | $ | 134,106 | | | 100 | % |
39.) Interest Rate Risk Management
Cumulative One Year Positive Gap
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Adjusted Gap | | $ | 242 | | $ | 1,110 | | $ | 161 | | $ | 585 | | $ | 519 | |
| | | | | | | | | | | |
Adjusted Gap as a % of Total Assets | | 2.1 | % | 9.1 | % | 1.4 | % | 4.7 | % | 4.1 | % |
| | | | | | | | | | | | | | | | |
40.) Securities Available for Sale and Residential Portfolios
Ending Balance
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Securities available for sale portfolio1 | | $ | 1,575 | | $ | 2,355 | | $ | 1,524 | | $ | 1,622 | | $ | 1,404 | |
Residential portfolio | | 2,733 | | 1,800 | | 1,213 | | 1,014 | | 884 | |
Total | | $ | 4,308 | | $ | 4,155 | | $ | 2,737 | | $ | 2,636 | | $ | 2,288 | |
| | | | | | | | | | | |
Yield: | | 6.76 | % | 6.25 | % | 5.55 | % | 5.29 | % | 5.37 | % |
Unrealized Gain / (Loss): | | $ | 9.8 | | $ | 72.3 | | $ | 8.9 | | $ | (2.2 | ) | $ | 2.5 | |
1 Based on historical amortized cost
41.) Top 50 Banks¹ - Return on Assets
Quarter Ended March 31, 2005
(Percent)
MELLON FINANCIAL CORP | | MEL | | 2.26 | % |
U S BANCORP | | USB | | 2.17 | % |
TCF FINANCIAL CORP | | TCB | | 2.03 | % |
NATIONAL CITY CORP | | NCC | | 2.02 | % |
SYNOVUS FINANCIAL CP | | SNV | | 1.87 | % |
NORTH FORK BANCORPORATION | | NFB | | 1.71 | % |
WELLS FARGO & CO | | WFC | | 1.71 | % |
MARSHALL & ILSLEY CORP | | MI | | 1.69 | % |
BB&T CORP | | BBT | | 1.66 | % |
MERCANTILE BANKSHARES CORP | | MRBK | | 1.64 | % |
BANK OF AMERICA CORP | | BAC | | 1.59 | % |
UNIONBANCAL CORP | | UB | | 1.58 | % |
CITY NATIONAL CORP | | CYN | | 1.55 | % |
PNC FINANCIAL SVCS GROUP INC | | PNC | | 1.55 | % |
BANK OF NEW YORK CO INC | | BK | | 1.54 | % |
ASSOCIATED BANC CORP | | ASBC | | 1.53 | % |
COMMERCE BANCSHARES INC | | CBSH | | 1.53 | % |
WESTCORP | | WES | | 1.53 | % |
HIBERNIA CORP -CL A | | HIB | | 1.53 | % |
FIFTH THIRD BANCORP | | FITB | | 1.53 | % |
FULTON FINANCIAL | | FULT | | 1.51 | % |
COMERICA INC. | | CMA | | 1.47 | % |
M & T BANK CORP | | MTB | | 1.44 | % |
VALLEY NATL BANC | | VLY | | 1.43 | % |
FIRST HORIZON NATL CORP | | FHN | | 1.43 | % |
COMPASS BANCSHARES INC | | CBSS | | 1.36 | % |
ZIONS BANCORPORATION | | ZION | | 1.35 | % |
REGIONS FINL CORP | | RF | | 1.35 | % |
INVESTORS FINL | | IFIN | | 1.33 | % |
BOK FINANCIAL CORP | | BOKF | | 1.32 | % |
AMSOUTH BANCORPORATION | | ASO | | 1.32 | % |
POPULAR INC | | BPOP | | 1.25 | % |
HUDSON CITY BANCORP | | HCBK | | 1.25 | % |
HUNTINGTON BANCSHARES | | HBAN | | 1.24 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 1.24 | % |
SKY FINANCIAL GR | | SKYF | | 1.23 | % |
CITIGROUP INC | | C | | 1.22 | % |
WACHOVIA CORP | | WB | | 1.22 | % |
NORTHERN TRUST CORP | | NTRS | | 1.18 | % |
SUNTRUST BANKS INC | | STI | | 1.17 | % |
KEYCORP | | KEY | | 1.11 | % |
COLONIAL BANCGROUP | | CNB | | 1.03 | % |
COMMERCE BANCORP INC/NJ | | CBH | | 1.02 | % |
WEBSTER FINANCIAL CORP | | WBS | | .98 | % |
SOUTH FINANCIAL | | TSFG | | .95 | % |
SOVEREIGN BANCORP INC | | SOV | | .94 | % |
BANKNORTH GROUP INC | | BNK | | .93 | % |
STATE STREET CORP | | STT | | .84 | % |
FIRST CITIZENS | | FCNCA | | .63 | % |
J P MORGAN CHASE & CO | | JPM | | .48 | % |
| | | | | |
AVERAGE | | | | 1.39 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
Source: CapitalBridge
42.) Top 50 Banks¹ - Return on Equity
Quarter Ended March 31, 2005
(Percent)
TCF FINANCIAL CORP | | TCB | | 27.18 | % |
NATIONAL CITY CORP | | NCC | | 22.69 | % |
FIRST HORIZON NATL CORP | | FHN | | 22.15 | % |
BANK OF AMERICA CORP | | BAC | | 21.96 | % |
U S BANCORP | | USB | | 21.88 | % |
INVESTORS FINL | | IFIN | | 21.66 | % |
VALLEY NATL BANC | | VLY | | 20.60 | % |
MELLON FINANCIAL CORP | | MEL | | 19.98 | % |
WELLS FARGO & CO | | WFC | | 19.20 | % |
COMPASS BANCSHARES INC | | CBSS | | 19.07 | % |
AMSOUTH BANCORPORATION | | ASO | | 18.71 | % |
UNIONBANCAL CORP | | UB | | 18.68 | % |
POPULAR INC | | BPOP | | 18.52 | % |
COMMERCE BANCORP INC/NJ | | CBH | | 18.27 | % |
SYNOVUS FINANCIAL CP | | SNV | | 17.78 | % |
MARSHALL & ILSLEY CORP | | MI | | 17.52 | % |
HUDSON CITY BANCORP | | HCBK | | 17.32 | % |
WESTCORP | | WES | | 17.31 | % |
FIFTH THIRD BANCORP | | FITB | | 16.91 | % |
PNC FINANCIAL SVCS GROUP INC | | PNC | | 16.50 | % |
CITY NATIONAL CORP | | CYN | | 16.47 | % |
HIBERNIA CORP -CL A | | HIB | | 16.35 | % |
CITIGROUP INC | | C | | 16.32 | % |
ASSOCIATED BANC CORP | | ASBC | | 16.15 | % |
BANK OF NEW YORK CO INC | | BK | | 16.08 | % |
NORTHERN TRUST CORP | | NTRS | | 15.96 | % |
HUNTINGTON BANCSHARES | | HBAN | | 15.80 | % |
COMERICA INC. | | CMA | | 15.69 | % |
COMMERCE BANCSHARES INC | | CBSH | | 15.33 | % |
ZIONS BANCORPORATION | | ZION | | 15.30 | % |
BB&T CORP | | BBT | | 15.30 | % |
FULTON FINANCIAL | | FULT | | 14.39 | % |
BOK FINANCIAL CORP | | BOKF | | 14.18 | % |
WACHOVIA CORP | | WB | | 13.99 | % |
KEYCORP | | KEY | | 13.67 | % |
SKY FINANCIAL GR | | SKYF | | 13.52 | % |
STATE STREET CORP | | STT | | 13.49 | % |
NORTH FORK BANCORPORATION | | NFB | | 13.40 | % |
COLONIAL BANCGROUP | | CNB | | 13.22 | % |
M & T BANK CORP | | MTB | | 13.19 | % |
SUNTRUST BANKS INC | | STI | | 13.00 | % |
MERCANTILE BANKSHARES CORP | | MRBK | | 12.35 | % |
REGIONS FINL CORP | | RF | | 11.90 | % |
WEBSTER FINANCIAL CORP | | WBS | | 11.46 | % |
SOVEREIGN BANCORP INC | | SOV | | 10.34 | % |
SOUTH FINANCIAL | | TSFG | | 10.07 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 9.59 | % |
BANKNORTH GROUP INC | | BNK | | 9.18 | % |
FIRST CITIZENS | | FCNCA | | 7.68 | % |
J P MORGAN CHASE & CO | | JPM | | 6.25 | % |
| | | | | |
AVERAGE | | | | 15.87 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
Source: CapitalBridge
43.) Top 50 Banks¹ - Net Charge-Offs
Quarter Ended March 31, 2005
(Percent)
UNIONBANCAL CORP | | UB | | (.07 | )% |
TCF FINANCIAL CORP | | TCB | | (.02 | )% |
CITY NATIONAL CORP | | CYN | | (.01 | )% |
NORTHERN TRUST CORP | | NTRS | | (.01 | )% |
FULTON FINANCIAL | | FULT | | .02 | % |
MERCANTILE BANKSHARES CORP | | MRBK | | .03 | % |
VALLEY NATL BANC | | VLY | | .04 | % |
WEBSTER FINANCIAL CORP | | WBS | | .04 | % |
INTL BANCSHARES | | IBOC | | .05 | % |
TRUSTMARK CORP | | TRMK | | .06 | % |
NORTH FORK BANCORPORATION | | NFB | | .06 | % |
ASSOCIATED BANC CORP | | ASBC | | .06 | % |
WACHOVIA CORP | | WB | | .08 | % |
ZIONS BANCORPORATION | | ZION | | .11 | % |
MARSHALL & ILSLEY CORP | | MI | | .11 | % |
COMMERCE BANCORP INC (NJ) | | CBH | | .11 | % |
BANK OF NEW YORK CO INC | | BK | | .11 | % |
PNC FINANCIAL SVCS GROUP INC | | PNC | | .11 | % |
WILMINGTON TRUST | | WL | | .14 | % |
SUNTRUST BANKS INC | | STI | | .14 | % |
FIRST CITIZENS | | FCNCA | | .15 | % |
BOK FINANCIAL CORP | | BOKF | | .16 | % |
FIRST HORIZON NATL CORP | | FHN | | .17 | % |
REGIONS FINL CORP | | RF | | .17 | % |
COMMERCE BANCSH INC (KC) | | CBSH | | .18 | % |
M & T BANK CORP | | MTB | | .19 | % |
BANKNORTH GROUP INC | | BNK | | .21 | % |
COLONIAL BANCGROUP | | CNB | | .21 | % |
BANCORPSOUTH INC | | BXS | | .22 | % |
SYNOVUS FINANCIAL CP | | SNV | | .23 | % |
AMSOUTH BANCORPORATION | | ASO | | .23 | % |
BB&T CORP | | BBT | | .28 | % |
CITIZENS BK MICH | | CBCF | | .31 | % |
KEYCORP | | KEY | | .34 | % |
NATIONAL CITY CORP | | NCC | | .35 | % |
COMERICA INC. | | CMA | | .37 | % |
HIBERNIA CORP | | HIB | | .37 | % |
FIFTH THIRD BANCORP | | FITB | | .40 | % |
COMPASS BANCSHARES INC | | CBSS | | .42 | % |
SOUTH FINANCIAL | | TSFG | | .45 | % |
HUDSON UNITED BANCORP | | HU | | .46 | % |
HUNTINGTON BANCSHARES | | HBAN | | .47 | % |
U S BANCORP | | USB | | .54 | % |
POPULAR INC | | BPOP | | .55 | % |
BANK OF AMERICA CORP | | BAC | | .68 | % |
FIRSTMERIT CORP | | FMER | | .73 | % |
WELLS FARGO & CO | | WFC | | .81 | % |
J P MORGAN CHASE & CO | | JPM | | .81 | % |
SKY FINANCIAL GR | | SKYF | | 1.19 | % |
CITIGROUP INC | | C | | 1.39 | % |
| | | | | |
WEIGHTED AVERAGE | | | | .63 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
Source: CapitalBridge
44.) TCF vs. Top 50 Banks¹ - Loan Loss Coverage²
Quarter Ended March 31, 2005
(Multiple)
FULTON FINANCIAL | | FULT | | 75.1 | X |
NORTHERN TRUST CORP | | NTRS | | 72.8 | X |
MERCANTILE BANKSHARES CORP | | MRBK | | 50.3 | X |
UNIONBANCAL CORP | | UB | | 44.1 | X |
WEBSTER FINANCIAL CORP | | WBS | | 34.9 | X |
CITY NATIONAL CORP | | CYN | | 32.6 | X |
INTL BANCSHARES | | IBOC | | 32.6 | X |
VALLEY NATL BANC | | VLY | | 27.3 | X |
ASSOCIATED BANC CORP | | ASBC | | 21.9 | X |
TRUSTMARK CORP | | TRMK | | 21.8 | X |
WACHOVIA CORP | | WB | | 14.8 | X |
BANK OF NEW YORK CO INC | | BK | | 14.6 | X |
COMMERCE BANCORP INC (NJ) | | CBH | | 13.5 | X |
PNC FINANCIAL SVCS GROUP INC | | PNC | | 12.5 | X |
ZIONS BANCORPORATION | | ZION | | 11.4 | X |
MARSHALL & ILSLEY CORP | | MI | | 11.3 | X |
NORTH FORK BANCORPORATION | | NFB | | 11.2 | X |
WILMINGTON TRUST | | WL | | 9.4 | X |
FIRST CITIZENS | | FCNCA | | 9.0 | X |
TCF FINANCIAL CORP | | TCB | | 9.0 | X |
COMMERCE BANCSH INC (KC) | | CBSH | | 8.6 | X |
BOK FINANCIAL CORP | | BOKF | | 8.6 | X |
M & T BANK CORP | | MTB | | 8.4 | X |
REGIONS FINL CORP | | RF | | 7.7 | X |
CITIZENS BK MICH | | CBCF | | 7.1 | X |
SUNTRUST BANKS INC | | STI | | 6.9 | X |
BANCORPSOUTH INC | | BXS | | 6.2 | X |
BANKNORTH GROUP INC | | BNK | | 6.2 | X |
SYNOVUS FINANCIAL CP | | SNV | | 6.1 | X |
FIRST HORIZON NATL CORP | | FHN | | 5.8 | X |
COLONIAL BANCGROUP | | CNB | | 5.5 | X |
KEYCORP | | KEY | | 5.2 | X |
AMSOUTH BANCORPORATION | | ASO | | 4.8 | X |
BB&T CORP | | BBT | | 4.3 | X |
COMERICA INC. | | CMA | | 4.2 | X |
HIBERNIA CORP | | HIB | | 3.9 | X |
NATIONAL CITY CORP | | NCC | | 3.4 | X |
COMPASS BANCSHARES INC | | CBSS | | 3.1 | X |
U S BANCORP | | USB | | 3.0 | X |
POPULAR INC | | BPOP | | 2.9 | X |
FIFTH THIRD BANCORP | | FITB | | 2.8 | X |
HUDSON UNITED BANCORP | | HU | | 2.7 | X |
SOUTH FINANCIAL | | TSFG | | 2.7 | X |
HUNTINGTON BANCSHARES | | HBAN | | 2.3 | X |
BANK OF AMERICA CORP | | BAC | | 2.3 | X |
J P MORGAN CHASE & CO | | JPM | | 2.1 | X |
FIRSTMERIT CORP | | FMER | | 2.1 | X |
WELLS FARGO & CO | | WFC | | 1.6 | X |
CITIGROUP INC | | C | | 1.4 | X |
SKY FINANCIAL GR | | SKYF | | 1.2 | X |
| | | | | |
WEIGHTED AVERAGE | | | | 2.4 | X |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
² Calculated based on simple annualization of net charge-offs except for banks with net recoveries which were calculated based on the trailing four quarters' net charge-offs.
Source: CapitalBridge
45.) Top 50 Banks¹ - Net Interest Margin
Quarter Ended March 31, 2005
(Percent)
WESTCORP | | WES | | 5.28 | % |
WELLS FARGO & CO | | WFC | | 4.94 | % |
CITY NATIONAL CORP | | CYN | | 4.59 | % |
TCF FINANCIAL CORP | | TCB | | 4.56 | % |
ZIONS BANCORPORATION | | ZION | | 4.43 | % |
MERCANTILE BANKSHARES CORP | | MRBK | | 4.33 | % |
REGIONS FINL CORP | | RF | | 4.18 | % |
U S BANCORP | | USB | | 4.18 | % |
NATIONAL CITY CORP | | NCC | | 4.17 | % |
SYNOVUS FINANCIAL CP | | SNV | | 4.15 | % |
HIBERNIA CORP -CL A | | HIB | | 4.14 | % |
COMMERCE BANCORP INC/NJ | | CBH | | 4.14 | % |
NORTH FORK BANCORPORATION | | NFB | | 4.03 | % |
BB&T CORP | | BBT | | 4.02 | % |
BANKNORTH GROUP INC | | BNK | | 3.98 | % |
FULTON FINANCIAL | | FULT | | 3.95 | % |
UNIONBANCAL CORP | | UB | | 3.91 | % |
POPULAR INC | | BPOP | | 3.85 | % |
M & T BANK CORP | | MTB | | 3.84 | % |
VALLEY NATL BANC | | VLY | | 3.82 | % |
SKY FINANCIAL GR | | SKYF | | 3.81 | % |
BANK OF AMERICA CORP | | BAC | | 3.73 | % |
COMMERCE BANCSHARES INC | | CBSH | | 3.72 | % |
COLONIAL BANCGROUP | | CNB | | 3.70 | % |
ASSOCIATED BANC CORP | | ASBC | | 3.68 | % |
COMERICA INC. | | CMA | | 3.67 | % |
KEYCORP | | KEY | | 3.64 | % |
CITIGROUP INC | | C | | 3.58 | % |
COMPASS BANCSHARES INC | | CBSS | | 3.57 | % |
FIRST HORIZON NATL CORP | | FHN | | 3.47 | % |
AMSOUTH BANCORPORATION | | ASO | | 3.45 | % |
BOK FINANCIAL CORP | | BOKF | | 3.42 | % |
WACHOVIA CORP | | WB | | 3.42 | % |
MARSHALL & ILSLEY CORP | | MI | | 3.41 | % |
FIFTH THIRD BANCORP | | FITB | | 3.40 | % |
FIRST CITIZENS | | FCNCA | | 3.40 | % |
SOUTH FINANCIAL | | TSFG | | 3.40 | % |
HUNTINGTON BANCSHARES | | HBAN | | 3.33 | % |
WEBSTER FINANCIAL CORP | | WBS | | 3.31 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 3.26 | % |
SOVEREIGN BANCORP INC | | SOV | | 3.25 | % |
PNC FINANCIAL SVCS GROUP INC | | PNC | | 3.13 | % |
SUNTRUST BANKS INC | | STI | | 3.08 | % |
HUDSON CITY BANCORP | | HCBK | | 2.58 | % |
J P MORGAN CHASE & CO | | JPM | | 2.43 | % |
BANK OF NEW YORK CO INC | | BK | | 2.35 | % |
MELLON FINANCIAL CORP | | MEL | | 1.98 | % |
INVESTORS FINL | | IFIN | | 1.77 | % |
NORTHERN TRUST CORP | | NTRS | | 1.62 | % |
STATE STREET CORP | | STT | | 1.08 | % |
| | | | | |
AVERAGE | | | | 3.56 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
Source: CapitalBridge
46.) Top 50 Banks¹- Price/Est. Forward EPS
Quarter Ended March 31, 2005
(Multiple)
HUDSON CITY BANCORP | | HCBK | | 23.43 | X |
INVESTORS FINL | | IFIN | | 16.25 | X |
SYNOVUS FINANCIAL CP | | SNV | | 15.31 | X |
NORTHERN TRUST CORP | | NTRS | | 15.30 | X |
VALLEY NATL BANC | | VLY | | 15.25 | X |
COMMERCE BANCORP INC/NJ | | CBH | | 14.69 | X |
COMMERCE BANCSHARES INC | | CBSH | | 14.56 | X |
FULTON FINANCIAL | | FULT | | 14.53 | X |
HIBERNIA CORP -CL A | | HIB | | 14.48 | X |
STATE STREET CORP | | STT | | 14.06 | X |
MERCANTILE BANKSHARES CORP | | MRBK | | 14.05 | X |
M & T BANK CORP | | MTB | | 13.98 | X |
MELLON FINANCIAL CORP | | MEL | | 13.72 | X |
CITY NATIONAL CORP | | CYN | | 13.64 | X |
SKY FINANCIAL GR | | SKYF | | 13.41 | X |
SOUTH FINANCIAL | | TSFG | | 13.22 | X |
COMPASS BANCSHARES INC | | CBSS | | 12.86 | X |
BANK OF NEW YORK CO INC | | BK | | 12.85 | X |
TCF FINANCIAL CORP | | TCB | | 12.69 | X |
MARSHALL & ILSLEY CORP | | MI | | 12.61 | X |
HUNTINGTON BANCSHARES | | HBAN | | 12.58 | X |
BOK FINANCIAL CORP | | BOKF | | 12.48 | X |
FIFTH THIRD BANCORP | | FITB | | 12.46 | X |
ZIONS BANCORPORATION | | ZION | | 12.44 | X |
COLONIAL BANCGROUP | | CNB | | 12.29 | X |
REGIONS FINL CORP | | RF | | 12.04 | X |
AMSOUTH BANCORPORATION | | ASO | | 11.96 | X |
BB&T CORP | | BBT | | 11.88 | X |
SUNTRUST BANKS INC | | STI | | 11.87 | X |
WELLS FARGO & CO | | WFC | | 11.87 | X |
KEYCORP | | KEY | | 11.71 | X |
ASSOCIATED BANC CORP | | ASBC | | 11.65 | X |
NEW YORK CMNTY BANCORP INC | | NYB | | 11.64 | X |
UNIONBANCAL CORP | | UB | | 11.60 | X |
BANKNORTH GROUP INC | | BNK | | 11.53 | X |
POPULAR INC | | BPOP | | 11.53 | X |
WEBSTER FINANCIAL CORP | | WBS | | 11.53 | X |
COMERICA INC. | | CMA | | 11.33 | X |
PNC FINANCIAL SVCS GROUP INC | | PNC | | 11.07 | X |
U S BANCORP | | USB | | 11.00 | X |
SOVEREIGN BANCORP INC | | SOV | | 10.76 | X |
WACHOVIA CORP | | WB | | 10.67 | X |
NORTH FORK BANCORPORATION | | NFB | | 10.63 | X |
FIRST HORIZON NATL CORP | | FHN | | 10.54 | X |
NATIONAL CITY CORP | | NCC | | 10.28 | X |
J P MORGAN CHASE & CO | | JPM | | 9.94 | X |
BANK OF AMERICA CORP | | BAC | | 9.84 | X |
CITIGROUP INC | | C | | 9.69 | X |
WESTCORP | | WES | | 8.20 | X |
| | | | | |
AVERAGE | | | | 12.61 | X |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 3/31/05
Source: CapitalBridge
47.) Return to Shareholders¹ +19%*
Period Ending
| | Index Value | |
| | 6/30/1995 | | 6/30/1996 | | 6/30/1997 | | 6/30/1998 | | 6/30/1999 | | 6/30/2000 | | 6/30/2001 | | 6/30/2002 | | 6/30/2003 | | 6/30/2004 | | 6/30/2005 | |
| | ($) | |
TCF Financial Corporation | | $ | 100.00 | | $ | 143.08 | | $ | 216.71 | | $ | 263.63 | | $ | 255.79 | | $ | 243.02 | | $ | 449.25 | | $ | 487.13 | | $ | 406.69 | | $ | 609.31 | | $ | 558.66 | |
Russell 3000 | | $ | 100.00 | | $ | 126.01 | | $ | 164.55 | | $ | 211.95 | | $ | 254.56 | | $ | 278.99 | | $ | 240.11 | | $ | 198.71 | | $ | 200.24 | | $ | 241.21 | | $ | 260.63 | |
SNL All Bank & Thrift Index | | $ | 100.00 | | $ | 135.06 | | $ | 207.33 | | $ | 289.54 | | $ | 303.82 | | $ | 252.09 | | $ | 335.94 | | $ | 332.40 | | $ | 354.55 | | $ | 419.55 | | $ | 449.13 | |
¹ | Assumes $100 invested June 30, 1995 with dividends reinvested | |
* | Annualized return since 6/30/95 | |
| Source: SNL Securities LC | |
48.) Cautionary Statement
This presentation 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 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.
49.) NYSE: TCB
The Leader In Convenience Banking
Stock Price Performance
(In Dollars)
Year-Ending | | Stock Price | | Dividend Paid | | |
Jun-86 | | $ | 1.50 | | | NA | | |
Dec-86 | | $ | 1.52 | | | NA | | |
Dec-87 | | $ | 0.86 | | | NA | | |
Dec-88 | | $ | 1.11 | | $ | 0.03 | | |
Dec-89 | | $ | 1.69 | | $ | 0.05 | | |
Dec-90 | | $ | 0.96 | | $ | 0.05 | | |
Dec-91 | | $ | 2.42 | | $ | 0.05 | | |
Dec-92 | | $ | 3.63 | | $ | 0.06 | | |
Dec-93 | | $ | 4.25 | | $ | 0.09 | | |
Dec-94 | | $ | 5.16 | | $ | 0.13 | | |
Dec-95 | | $ | 8.28 | | $ | 0.15 | | |
Dec-96 | | $ | 10.88 | | $ | .18 | | |
Dec-97 | | $ | 16.97 | | $ | .23 | | |
Dec-98 | | $ | 12.09 | | $ | .31 | | |
Dec-99 | | $ | 12.44 | | $ | .36 | | |
Dec-00 | | $ | 22.28 | | $ | .41 | | |
Dec-01 | | $ | 23.99 | | $ | .50 | | |
Dec-02 | | $ | 21.85 | | $ | .58 | | |
Dec-03 | | $ | 25.68 | | $ | .65 | | |
Dec-04 | | $ | 32.14 | | $ | .75 | | |
Jun-05 | | $ | 25.88 | | $ | .85 | | (annualized) |
50.) Appendix
51.) Risk-Based Capital
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 6/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Actual | | $ | 834 | | $ | 851 | | $ | 842 | | $ | 959 | | $ | 998 | |
Minimum Requirement | | $ | 593 | | $ | 622 | | $ | 628 | | $ | 705 | | $ | 739 | |
Well Capitalized Requirement | | $ | 741 | | $ | 777 | | $ | 785 | | $ | 881 | | $ | 924 | |
| | | | | | | | | | | |
Tier 1: | | 10.24 | % | 9.96 | % | 9.75 | % | 9.12 | % | 8.62 | % |
Total: | | 11.26 | % | 10.95 | % | 10.73 | % | 10.88 | % | 10.80 | % |
| | | | | | | | | | | |
Excess*: | | $ | 93.2 | | $ | 73.6 | | $ | 57.4 | | $ | 77.4 | | $ | 74.3 | |
* Excess over “well-capitalized” requirement.
52.) Leasing and Equipment Finance
Power Assets®
($ 000s)
| | 6/30/2005 | | 12/31/2004 | | Change | |
Manufacturing | | $ | 256,243 | | $ | 251,157 | | $ | 5,086 | |
Specialty vehicles | | 235,553 | | 236,582 | | (1,029 | ) |
Technology and data processing | | 220,138 | | 229,160 | | (9,022 | ) |
Construction | | 206,476 | | 182,612 | | 23,864 | |
Medical | | 179,424 | | 157,745 | | 21,679 | |
Trucks and trailers | | 65,134 | | 74,870 | | (9,736 | ) |
Furniture and fixtures | | 55,489 | | 51,192 | | 4,297 | |
Printing | | 50,316 | | 45,394 | | 4,922 | |
Material handling | | 36,721 | | 33,810 | | 2,911 | |
Aircraft | | 21,011 | | 22,556 | | (1,545 | ) |
Other | | 93,363 | | 90,294 | | 3,069 | |
Total | | $ | 1,419,868 | | $ | 1,375,372 | | $ | 44,496 | |
| | | | | | | | | | | | |
53.) Leasing and Equipment Finance
Summary of Operations
($ 000s)
For the Six Months Ended June 30: | | 2005 | | 2004 | | Change | |
Net interest income | | $ | 29,209 | | $ | 26,668 | | $ | 2,541 | |
Provision for credit losses | | 1,256 | | 2,910 | | (1,654 | ) |
Non-interest income | | 21,862 | | 22,786 | | (924 | ) |
Non-interest expense | | 23,273 | | 20,486 | | 2,787 | |
Pre-tax income | | 26,542 | | 26,058 | | 484 | |
Income tax expense | | 9,494 | | 9,294 | | 200 | |
Net Income | | $ | 17,048 | | $ | 16,764 | | $ | 284 | |
| | | | | | | |
ROA | | 2.32 | % | 2.58 | % | | |
54.) Leasing and Equipment Finance
Credit Quality
Over 30-day delinquency as a Percentage of Portfolio at: | | 6/30/2005 | | 12/31/2004 | |
Middle market | | .33 | % | .51 | % |
Small ticket | | .76 | | .75 | |
Winthrop | | .27 | | 1.10 | |
Wholesale | | .01 | | — | |
Other | | 1.81 | | 1.68 | |
Total | | .44 | | .67 | |
55.) Net Charge-offs by Business Line
| | 2001 | | 2002 | | 2003 | | 2004 | | YTD*
2005 | |
| | | | | | | | | | | |
Consumer home equity and other | | .13 | % | .15 | % | .10 | % | .08 | % | .10 | % |
Commercial real estate | | — | | .12 | | .07 | | .02 | | — | |
Commercial business | | .06 | | 1.35 | | .18 | | .04 | | (1.17 | ) |
Leasing and equipment finance | | 1.00 | | .80 | | .69 | | .43 | | .22 | |
Residential real estate | | — | | — | | .01 | | .01 | | .01 | |
Total | | .15 | | .25 | | .16 | | .11 | | .03 | |
* Annualized
56.) Reconciliation of GAAP to Non-GAAP Measures¹
| | For the Six Months Ended | |
| | June 30, 2005 | |
| | | | | |
Computation of Return on Equity (ROE): | | | | | |
Net income, as reported | | | | $ | 134,106 | |
| | | | | |
Average stockholders’ equity, as reported | | | | $ | 933,286 | |
| | | | | |
Return on equity | | | | 28.74 | % |
| | | | | |
Computation of Return on Tangible Equity (ROTE): | | | | | |
Net income | | | | $ | 134,106 | |
Amortization of deposit based intangibles, net of any related tax effect | | | | 536 | |
| | | | | |
Net income, adjusted | | | | $ | 134,642 | |
| | | | | |
Average Stockholders’ equity | | | | $ | 933,286 | |
Average goodwill | | | | 152,599 | |
Average deposit base intangible | | | | 3,826 | |
| | | | | |
Average tangible equity | | | | $ | 776,861 | |
| | | | | |
Return on tangible equity (ROTE) | | | | 34.66 | % |
¹ In contrast to GAAP-basis measures, ROTE excludes the after-tax effect of goodwill and deposit base intangible assets both in the income statement and balance sheet. This allows management to review core operating results and core capital position of the Company. This is consistent with the treatment by the bank regulatory agencies which exclude goodwill and deposit base intangible assets from their calculation of risk-based capital.
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).
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.
Return on Average Tangible Common Equity (ROTE)
Annualized net income (excluding the after-tax effect of goodwill and deposit base intangible assets amortization) divided by average tangible common stockholders’ equity for the period.
Tangible Common Stockholders’ Equity
Common stockholders’ equity less goodwill and deposit base intangible assets.
