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 Third Quarter Earnings and EPS ($.50, up 11 percent)

THIRD QUARTER HIGHLIGHTS

•Diluted earnings per share of 50 cents

•Net income of $65.5 million

•Return on average assets of 2.07 percent

•Return on average common equity of 27.41 percent

•Average Power Assets^Ò increased $1.1 billion, or 14 percent

•Average Power Liabilities^Ò increased $773.2 million, or 10 percent

•Increased checking accounts by 17,496 to 1,612,497 accounts

•Opened eight new branches during the quarter; plan to open a total of 28 new branches in 2005

EARNINGS SUMMARY

($ in thousands, except per-share data)

	Three Months Ended September 30,								Nine Months Ended September 30,
	2005			2004			Change		2005			2004			Change
Net income	$	65,486		$	61,712		6.1	%	$	199,592		$	187,591		6.4	%
Diluted earnings per common share	.50			.45			11.1		1.50			1.36			10.3
Financial Ratios
Return on average assets	2.07		%	2.06		%			2.11		%	2.12		%
Return on average common equity	27.41			25.96					28.32			26.56
Net interest margin	4.43			4.56					4.51			4.54

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WAYZATA, MN, October 19, 2005 – TCF Financial Corporation (TCF) (NYSE: TCB) today reported diluted earnings per share of 50 cents for the third quarter of 2005, compared with 45 cents for the same period of 2004.  Net income for the third quarter of 2005 was $65.5 million, compared with $61.7 million for the same period of 2004.  For the third quarter of 2005, return on average assets (“ROA”) was 2.07 percent and return on average common equity (“ROE”) was 27.41 percent, compared with 2.06 percent and 25.96 percent, respectively, for the third quarter of 2004.

Chairman’s Statement

“The current interest rate environment and changing customer behaviors have contributed to a challenging quarter for the banking industry.  TCF was not immune to these forces,” said William A. Cooper, Chairman and CEO.  “The flat yield curve has enabled consumers to refinance higher yielding variable-rate loans with lower cost fixed-rate loans.  This has limited TCF’s growth in interest income as funding costs have increased, thus compressing margins.  Credit quality, however, was strong and continued to improve with the exception of Delta Airlines, Inc. (“Delta”).  TCF charged off its investment in the leveraged lease due to Delta’s September 14, 2005 bankruptcy filing.  TCF remains focused on its long-term strategies of high-quality secured lending, product innovation and targeted new branch expansion,” said Cooper.

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Total Revenue

($ in thousands)	Three Months Ended September 30,
	2005			2004			$ Change			% Change
Net interest income	$	128,070		$	124,490		$	3,580		2.9		%
Fees and other revenue:
Fees and service charges	69,431			71,353			(1,922		)	(2.7	)
Card revenue	21,025			16,339			4,686			28.7
ATM revenue	10,646			11,474			(828		)	(7.2	)
Investments and insurance revenue	2,682			3,057			(375		)	(12.3	)
Total banking fees and other revenue	103,784			102,223			1,561			1.5
Leasing and equipment finance	10,197			6,864			3,333			48.6
Mortgage banking (1)	982			4,132			(3,150		)	(76.2	)
Other	7,743			2,584			5,159			199.7
Total fees and other revenue	122,706			115,803			6,903			6.0
Gains on sales of securities available for sale	995			3,679			(2,684		)	(73.0	)
Total non-interest income	123,701			119,482			4,219			3.5
Total revenue	$	251,771		$	243,972		$	7,799		3.2
Net interest margin (2)	4.43		%	4.56		%
Fees and other revenue as a % of total revenue	48.74			47.47
Fees and other revenue as a % of average assets (2)	3.89			3.87

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

 (2)  Annualized.

Net Interest Income

TCF’s net interest income in the third quarter of 2005 was $128.1 million, up $3.6 million, or 3 percent, from the third quarter of 2004 and down $3.2 million, or 2 percent, from the second quarter of 2005.  Net interest margin in the third quarter of 2005 was 4.43 percent, compared with 4.56 percent last year and 4.53 percent in the second quarter of 2005. The increase in net interest income from the third quarter of 2004 was primarily driven by increases in average Power Assets and Power Liabilities, partially offset by higher funding costs and the effect of a flattening yield curve.  The decrease in net interest income from the second quarter of 2005 was primarily due to lower average balances of securities available for sale and residential real estate loans and higher funding costs as deposit rates increased and certain lower-cost long-term borrowings matured.  The decrease in the net interest margin from the third quarter of 2004 and the second quarter of 2005 is primarily due to the rates on interest-bearing liabilities increasing more than the yields on interest-earning assets, partially reflecting an increase in customer preference for fixed-rate consumer loans.

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Non-interest Income

Total non-interest income in the third quarter of 2005 was $123.7 million, up $4.2 million, or 4 percent, from the third quarter of 2004 primarily due to increases in card revenues, leasing and equipment finance revenues and other revenue, partially offset by declines in fees and service charges, gains on sales of securities and mortgage banking revenues.

Fees and service charges decreased $1.9 million, or 3 percent, from the third quarter of 2004, but increased $3.6 million, or 5 percent, from the second quarter of 2005.  “Deposit service charge trends showed improvement during the quarter due to increased customer transactions,” said Cooper.  “Fee income growth will, however, continue to be challenging for the banking industry and TCF.  TCF remains focused on checking account growth to increase future fee revenue.”

Card revenues totaled $21 million for the third quarter of 2005, up 29 percent over the same period in 2004.  The increase was primarily attributable to an increase in customer transaction volumes and related fees.

Leasing and equipment finance revenues were $10.2 million for the third quarter of 2005, up $3.3 million, or 49 percent, from the 2004 third quarter primarily due to higher operating lease and sales-type revenues.  Sales-type revenues may fluctuate from quarter to quarter based on customer driven factors not within the control of TCF.

Other revenue increased $5.2 million from $2.6 million in the third quarter of 2004, primarily due to a $3.4 million gain on the sale of a branch building.

During the 2005 third quarter, TCF took advantage of market conditions and sold $99.5 million of mortgage-backed securities and realized gains of $1 million, compared with $216.3 million in sales and $3.7 million of gains for the third quarter of 2004.

New Branch Expansion

“TCF’s continued focus on new branch expansion resulted in the opening of eight new branches during the quarter, including five traditional branches, two supermarket branches and one campus branch,” said Cooper.  TCF has now opened 140 new branches since January 2000. TCF plans to open 13 new branches in

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the fourth quarter of 2005, consisting of nine traditional branches, three supermarket branches and one campus branch, bringing the total number of new branches to be opened in 2005 to 28.

	September 30,		September 30,		December 31,
(# of branches)	2005		2004		1999
Total Branches
Minnesota	104		101		82
Illinois	199		194		150
Wisconsin	34		34		31
Michigan	62		58		64
Colorado	37		26		10
Indiana	6		6		1
	442		419		338
New Branches*
Traditional	62		45
Supermarket	76		68
Campus	2		-
Total	140		113
% of Total Branches	32	%	27	%

 *  New branches opened since January 1, 2000.

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
	September 30,
($ in thousands)	2005		2004		Change		% Change
Number of checking accounts	256,452		194,686		61,766		31.7	%
Average deposits:
Checking	$	380,004	$	272,101	$	107,903	39.7
Savings	264,301		140,411		123,890		88.2
Money market	27,128		20,785		6,343		30.5
Subtotal	671,433		433,297		238,136		55.0
Certificates of deposit	224,278		55,191		169,087		N.M.
Total deposits	$	895,711	$	488,488	$	407,223	83.4
Total deposit fees and other revenue	$	18,508	$	14,010	$	4,498	32.1

 N.M. Not meaningful.

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Power Assets^®

TCF’s Power Asset lending operations continue to generate strong growth. TCF’s average consumer loan balances increased $782.6 million, or 19 percent; average commercial real estate loan balances increased $207.8 million, or 10 percent; and leasing and equipment finance average balances increased $108.2 million, or 8 percent, from the third quarter of 2004.

	Average Balances for the
	Three Months Ended September 30,
($ in thousands)	2005		2004		Change			% Change
Loans and leases*:
Consumer home equity and other
Home equity:
First mortgage lien	$	3,194,663	$	2,712,447	$	482,216		17.8		%
Junior lien	1,653,033		1,348,053		304,980			22.6
Total consumer home equity	4,847,696		4,060,500		787,196			19.4
Other	34,469		39,069		(4,600		)	(11.8	)
Total consumer home equity and other	4,882,165		4,099,569		782,596			19.1
Commercial real estate	2,220,563		2,012,790		207,773			10.3
Commercial business	433,641		440,010		(6,369		)	(1.4	)
Leasing and equipment finance	1,428,653		1,320,495		108,158			8.2
Power Assets	$	8,965,022	$	7,872,864	$	1,092,158		13.9

 *Excludes residential real estate loans, loans held for sale and operating leases.

Power Liabilities^®

Average Power Liabilities totaled $8.6 billion for the third quarter of 2005, with an average interest rate of 1.23 percent.  Average Power Liabilities increased $773.2 million, or 10 percent, from the third quarter of 2004, primarily driven by increases in Premier Checking, Premier Savings and certificates of deposit, partially offset by declines in other interest-bearing checking and savings.  The total number of checking accounts was 1,612,497 at September 30, 2005, up 85,545 accounts, or 6 percent, from September 30, 2004 and up 77,345 accounts, or 7 percent (annualized) from December 31, 2004.

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	Average Balances for the
	Three Months Ended September 30,
($ in thousands)	2005			2004			Change				% Change
Non-interest bearing deposits:
Retail	$	1,539,893		$	1,512,434		$	27,459			1.8		%
Small business	600,374			525,466			74,908				14.3
Commercial and custodial	325,025			329,329			(4,304		)		(1.3	)
Total non-interest bearing deposits	2,465,292			2,367,229			98,063				4.1
Interest-bearing deposits:
Premier checking	694,835			248,217			446,618				179.9
Other checking	1,004,507			1,140,098			(135,591		)		(11.9	)
Subtotal	1,699,342			1,388,315			311,027				22.4
Premier savings	436,690			109,681			327,009				N.M.
Other savings	1,549,451			1,717,789			(168,338		)		(9.8	)
Subtotal	1,986,141			1,827,470			158,671				8.7
Money market	632,293			738,769			(106,476		)		(14.4	)
Subtotal	4,317,776			3,954,554			363,222				9.2
Certificates of deposit	1,770,805			1,458,905			311,900				21.4
Total interest-bearing deposits	6,088,581			5,413,459			675,122				12.5
Power Liabilities	$	8,553,873		$	7,780,688		$	773,185			9.9
Average rate on deposits	1.23		%	.53		%	70			bps	N/A
Number of checking accounts, period-end	1,612,497			1,526,952			85,545				5.6

 N.M. Not meaningful.

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 $2.2 billion for the third quarter of 2005, a decrease of $379.6 million from the third 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 September 30, 2005, the unrealized pre-tax loss on TCF’s securities available for sale portfolio was $21.3 million.

	Average Balances and Yields
	for the Three Months Ended									Change from
	September 30,			June 30,			September 30,			June 30,				September 30,
($ in thousands)	2005			2005			2004			2005				2004
Securities available for sale	$	1,393,742		$	1,646,986		1,545,768			$	(253,244	)		$	(152,026	)
Residential real estate loans	849,069			919,379			1,076,619			(70,310		)		(227,550		)
Total	$	2,242,811		$	2,566,365		$	2,622,387		$	(323,554	)		$	(379,576	)
Yield	5.36		%	5.37		%	5.46		%	(1		)	bps	(10		)	bps

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Non-interest Expense

Non-interest expense totaled $154 million for the 2005 third quarter, up $6.1 million, or 4 percent, from $147.9 million for the 2004 third quarter.  Compensation and employee benefits increased $2.4 million, or 3 percent, from the third quarter of 2004, primarily due to a $1.4 million increase for new branches opened during the past 12 months and a $2.8 million increase in incentives, partially offset by a $3.1 million decrease for mortgage banking.  Occupancy and equipment expenses increased $2.3 million, or 10 percent, from the third quarter of 2004, primarily related to costs associated with new branches opened during the past 12 months.  Deposit losses decreased $741 thousand from the third quarter of 2004, due to lower uncollectable overdraft losses, partially offset by increased fraud losses.  Other expenses increased $3 million, or 9 percent, from the third quarter of 2004, primarily driven by a $1.6 million increase in operating lease depreciation expense in the leasing businesses and a $660 thousand increase in card processing and issuance expenses related to the overall increase in card volumes. 

	Three Months Ended
	September 30,						Change
($ in thousands)	2005			2004			$			%
Compensation and employee benefits	$		80,402	$		78,010	$	2,392		3.1		%
Occupancy and equipment	25,931			23,673			2,258			9.5
Advertising and promotions	6,578			7,377			(799		)	(10.8	)
Deposit account losses	6,680			7,421			(741		)	(10.0	)
Other	34,412			31,445			2,967			9.4
Total non-interest expense	$	154,003		$	147,926		$	6,077		4.1

Credit Quality

At September 30, 2005, TCF’s allowance for loan and lease losses totaled $59 million, or .59 percent of loans and leases, compared with $79 million, or .87 percent, at September 30, 2004.  The provision for credit losses for the third quarter of 2005 was $3.4 million, compared with $2.6 million for the third quarter of 2004, or an increase of $750 thousand.  Delta declared bankruptcy on September 14, 2005, and TCF charged off its $18.8 million investment in the related leveraged lease.  TCF increased the specific allowance for loan and lease losses assigned to the leveraged lease from $13.9 million at June 30, 2005, to $18.8 million through changes in existing leasing and equipment finance allocated allowances and $1.3 million in additional

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provision.  In the 2005 third quarter, net loan and lease charge-offs were $20.8 million, or .85 percent (annualized) of average loans and leases, up from $3.7 million, or .17 percent (annualized), for the same period of 2004.  Net loan and lease charge-offs excluding the leveraged lease loss were $2 million, or .08 percent (annualized) for the third quarter of 2005.

At September 30, 2005, TCF’s over-30-day delinquency rate was .31 percent, down from .39 percent at September 30, 2004.  Non-accrual loans and leases were $21.7 million, or .22 percent of net loans and leases, at September 30, 2005, compared with $46.7 million, or .51 percent, at September 30, 2004.  Total non-performing assets were $38.5 million, or .30 percent of total assets, at September 30, 2005, down from $69.5 million, or .58 percent of total assets, at September 30, 2004.  The decrease in non-accrual loans and non-performing assets was primarily due to the charge-off of the leveraged lease and a decline in commercial real estate owned. 

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
($ in thousands)	2005			2004			2005			2004
Allowance for loan and lease losses:
Balance at beginning of period	$76,406			$80,025			$79,878			$76,619
Net (charge-offs) recoveries:
Consumer home equity and other	(886	)		(1,133	)		(3,211	)		(2,426	)
Commercial real estate	(34	)		(526	)		(68	)		(478	)
Commercial business	(140	)		(30	)		2,330			(87	)
Leasing and equipment finance	(19,690	)		(1,999	)		(21,217	)		(3,271	)
Residential real estate	(34	)		(5	)		(81	)		(46	)
Total	(20,784	)		(3,693	)		(22,247	)		(6,308	)
Provision for credit losses	3,394			2,644			1,385			6,874
Acquired allowance	-			-			-			1,791
Balance at end of period	$59,016			$78,976			$59,016			$78,976
Key Indicators:
Allowance for loans and leases as a percentage of total loans and leases	.59		%	.87		%	.59		%	.87		%
Annualized net charge-offs as a percentage of average loans and leases	.85		%	.17		%	.31		%	.10		%
Annualized net charge-offs as a percentage of average loans and leases - excluding the leveraged lease	.08		%	.17		%	.05		%	.10		%
Period-end allowance as a multiple of annualized net charge-offs	.7		X	5.3		X	2.0		X	9.4		X
Income before income taxes and provision for loan losses as a multiple of net charge-offs	4.7		X	26.0		X	13.0		X	46.1		X

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Mortgage Banking

At September 30, 2005, TCF’s mortgage servicing portfolio totaled $3.6 billion and the mortgage servicing rights asset totaled $37.4 million, or 1.05 percent of the related servicing portfolio, down from $4.7 billion and $51.5 million, respectively, at September 30, 2004. The following table summarizes the components of mortgage banking revenues. 

	Three Months Ended
	September 30,
($ in thousands)	2005		2004			Change			% Change
Servicing income	$	3,329	$	4,215		$	(886	)	(21.0	)%
Less mortgage servicing rights:
Amortization	2,516		2,807			(291		)	(10.4	)
Recovery	-		(1,000		)	1,000			100.0
Net servicing income	813		2,408			(1,595		)	(66.2	)
Gains on sales of loans *	-		1,442			(1,442		)	(100.0	)
Other income	169		282			(113		)	(40.1	)
Total mortgage banking revenue	$	982	$	4,132		$	(3,150	)	(76.2	)

* Beginning in 2005, TCF’s mortgage banking business no longer originates or sells loans.

Income Taxes

TCF’s income tax expense was $28.9 million for the third quarter of 2005, or 30.61 percent of income before income tax expense, compared with $31.7 million, or 33.93 percent, for the comparable 2004 period.  The lower effective income tax rate in the third quarter of 2005, compared with the second quarter of 2005, is primarily due to a reduction in the expected 2005 annual effective income tax rate related to an increased effect of permanent differences as a percentage of pre-tax income and lower expected state income taxes.

Capital

During the third quarter of 2005, TCF repurchased 400,000 shares of its common stock at an average cost of $27.79 per share.  TCF has 6.7 million shares remaining in its stock repurchase program authorized by its Board of Directors.

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	At September 30,					At December 31,
($ in thousands, except per-share data)	2005					2004
Stockholders’ equity	$	967,069				$	958,418
Stockholders’ equity to total assets	7.59		%			7.77		%
Book value per common share	7.23					6.99
Total risk-based capital	$	1,008,858		10.66	%	$	958,900		10.88	%
Total risk-based capital “well-capitalized” requirement	$	946,220		10.00	%	$	881,481		10.00	%
Excess risk-based capital over “well-capitalized” requirement	$	62,638		.66	%	$	77,419		.88	%

Website Information

A live webcast of TCF’s conference call to discuss third quarter earnings will be hosted at TCF’s website, www.TCFExpress.com, on October 19, 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 $12.7 billion in assets.  TCF has 442 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.

__________________________________________________________________________________________________________

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; imposition of vicarious liability on TCF as lessor in its leasing operations; denial of insurance coverage for claims made

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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, including reductions in card revenues resulting from litigation brought by various merchants or merchant organizations against VISA, 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 September 30,
	2005		2004		$ Change			% Change
Interest income:
Loans and leases	$	163,178	$	133,295	$	29,883		22.4		%
Securities available for sale	17,893		20,414		(2,521		)	(12.3	)
Loans held for sale	2,759		2,931		(172		)	(5.9	)
Investments	463		773		(310		)	(40.1	)
Total interest income	184,293		157,413		26,880			17.1
Interest expense:
Deposits	26,539		10,318		16,221			157.2
Borrowings	29,684		22,605		7,079			31.3
Total interest expense	56,223		32,923		23,300			70.8
Net interest income	128,070		124,490		3,580			2.9
Provision for credit losses	3,394		2,644		750			28.4
Net interest income after provision for credit losses	124,676		121,846		2,830			2.3
Non-interest income:
Fees and service charges	69,431		71,353		(1,922		)	(2.7	)
Card revenue	21,025		16,339		4,686			28.7
ATM revenue	10,646		11,474		(828		)	(7.2	)
Investments and insurance revenue	2,682		3,057		(375		)	(12.3	)
Subtotal	103,784		102,223		1,561			1.5
Leasing and equipment finance	10,197		6,864		3,333			48.6
Mortgage banking	982		4,132		(3,150		)	(76.2	)
Other	7,743		2,584		5,159			199.7
Fees and other revenue	122,706		115,803		6,903			6.0
Gains on sales of securities available for sale	995		3,679		(2,684		)	(73.0	)
Total non-interest income	123,701		119,482		4,219			3.5
Non-interest expense:
Compensation and employee benefits	80,402		78,010		2,392			3.1
Occupancy and equipment	25,931		23,673		2,258			9.5
Advertising and promotions	6,578		7,377		(799		)	(10.8	)
Deposit account losses	6,680		7,421		(741		)	(10.0	)
Other	34,412		31,445		2,967			9.4
Total non-interest expense	154,003		147,926		6,077			4.1
Income before income tax expense	94,374		93,402		972			1.0
Income tax expense	28,888		31,690		(2,802		)	(8.8	)
Net income	$	65,486	$	61,712	$	3,774		6.1
Net income per common share:
Basic	$	.50	$	.45	$	.05		11.1
Diluted	$	.50	$	.45	$	.05		11.1
Dividends declared per common share	$	.2125	$	.1875	$	.025		13.3
Average common and common equivalent shares outstanding (in thousands):
Basic	131,702		136,184		(4,482		)	(3.3	)
Diluted	132,052		136,844		(4,792		)	(3.5	)

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14

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

	Nine Months Ended September 30,
	2005		2004		$ Change			% Change
Interest income:
Loans and leases	$	464,736	$	386,709	$	78,027		20.2		%
Securities available for sale	60,713		61,159		(446		)	(.7	)
Loans held for sale	7,579		9,112		(1,533		)	(16.8	)
Investments	2,609		2,441		168			6.9
Total interest income	535,637		459,421		76,216			16.6
Interest expense:
Deposits	63,123		30,331		32,792			108.1
Borrowings	84,106		63,688		20,418			32.1
Total interest expense	147,229		94,019		53,210			56.6
Net interest income	388,408		365,402		23,006			6.3
Provision for credit losses	1,385		6,874		(5,489		)	(79.9	)
Net interest income after provision for credit losses	387,023		358,528		28,495			7.9
Non-interest income:
Fees and service charges	192,286		204,128		(11,842		)	(5.8	)
Card revenue	58,384		45,854		12,530			27.3
ATM revenue	31,173		32,609		(1,436		)	(4.4	)
Investments and insurance revenue	8,326		9,949		(1,623		)	(16.3	)
Subtotal	290,169		292,540		(2,371		)	(.8	)
Leasing and equipment finance	31,982		29,276		2,706			9.2
Mortgage banking	2,340		13,082		(10,742		)	(82.1	)
Other	18,392		6,657		11,735			176.3
Fees and other revenue	342,883		341,555		1,328			.4
Gains on sales of securities available for sale	10,671		16,396		(5,725		)	(34.9	)
Total non-interest income	353,554		357,951		(4,397		)	(1.2	)
Non-interest expense:
Compensation and employee benefits	243,826		236,486		7,340			3.1
Occupancy and equipment	76,081		70,560		5,521			7.8
Advertising and promotions	19,603		19,785		(182		)	(.9	)
Deposit account losses	14,116		16,949		(2,833		)	(16.7	)
Other	98,735		88,758		9,977			11.2
Total non-interest expense	452,361		432,538		19,823			4.6
Income before income tax expense	288,216		283,941		4,275			1.5
Income tax expense	88,624		96,350		(7,726		)	(8.0	)
Net income	$	199,592	$	187,591	$	12,001		6.4
Net income per common share:
Basic	$	1.50	$	1.37	$	.13		9.5
Diluted	$	1.50	$	1.36	$	.14		10.3
Dividends declared per common share	$	.6375	$	.5625	$	.075		13.3
Average common and common equivalent shares outstanding (in thousands):
Basic	132,692		137,223		(4,531		)	(3.3	)
Diluted	133,054		137,842		(4,788		)	(3.5	)

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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
	September 30,			December 31,			September 30,			December 31,			September 30,
	2005			2004			2004			2004			2004
ASSETS
Cash and due from banks	$	361,595		$	359,798		$	354,651		.5		%	2.0		%
Investments	79,583			103,226			92,177			(22.9	)		(13.7	)
Securities available for sale	1,318,787			1,619,941			1,330,708			(18.6	)		(.9	)
Loans held for sale	230,571			154,279			330,647			49.5			(30.3	)
Loans and leases:
Consumer home equity and other	5,035,661			4,418,588			4,222,025			14.0			19.3
Commercial real estate	2,241,069			2,154,396			2,031,031			4.0			10.3
Commercial business	438,028			424,135			444,632			3.3			(1.5	)
Leasing and equipment finance	1,424,317			1,375,372			1,328,116			3.6			7.2
Subtotal	9,139,075			8,372,491			8,025,804			9.2			13.9
Residential real estate	815,893			1,014,166			1,047,079			(19.6	)		(22.1	)
Total loans and leases	9,954,968			9,386,657			9,072,883			6.1			9.7
Allowance for loan and lease losses	(59,016		)	(79,878		)	(78,976		)	(26.1	)		(25.3	)
Net loans and leases	9,895,952			9,306,779			8,993,907			6.3			10.0
Premises and equipment	352,154			326,667			316,833			7.8			11.1
Goodwill	152,599			152,599			152,599			-			-
Mortgage servicing rights	37,420			46,442			51,474			(19.4	)		(27.3	)
Other assets	308,428			270,836			374,953			13.9			(17.7	)
	$	12,737,089		$	12,340,567		$	11,997,949		3.2			6.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Checking	$	4,218,993		$	3,905,987		$	3,692,132		8.0			14.3
Savings	2,140,483			1,927,872			1,924,481			11.0			11.2
Money market	632,367			659,686			707,046		��	(4.1	)		(10.6	)
Subtotal	6,991,843			6,493,545			6,323,659			7.7			10.6
Certificates of deposit	1,866,425			1,468,650			1,471,164			27.1			26.9
Total deposits	8,858,268			7,962,195			7,794,823			11.3			13.6
Short-term borrowings	1,084,933			1,056,111			845,499			2.7			28.3
Long-term borrowings	1,547,690			2,048,492			2,057,608			(24.4	)		(24.8	)
Total borrowings	2,632,623			3,104,603			2,903,107			(15.2	)		(9.3	)
Accrued expenses and other liabilities	279,129			315,351			334,753			(11.5	)		(16.6	)
Total liabilities	11,770,020			11,382,149			11,032,683			3.4			6.7
Stockholders’ equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 184,395,593; 184,939,094 and 184,964,602 shares issued	1,844			1,849			1,850			(.3	)		(.3	)
Additional paid-in capital	496,605			518,741			517,537			(4.3	)		(4.0	)
Retained earnings, subject to certain restrictions	1,499,427			1,385,760			1,344,036			8.2			11.6
Accumulated other comprehensive (loss) income	(13,596		)	(1,415		)	1,471			N.M.			N.M.
Treasury stock at cost, 50,645,520; 47,752,934 and 46,200,454 shares, and other	(1,017,211		)	(946,517		)	(899,628		)	7.5			13.1
Total stockholders’ equity	967,069			958,418			965,266			.9			.2
	$	12,737,089		$	12,340,567		$	11,997,949		3.2			6.2

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 Nine Months Ended September 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	$	16,346	.32	%	$	3,211		.09		%	$	9,939	.22	%	$	3,232	.08	%
Commercial real estate	20,745		.93		68			-			20,742		.96		476		.02
Commercial business	6,859		1.57		(2,330		)	(.73	)		7,696		1.81		153		.04
Leasing and equipment finance (2)	14,445		1.01		21,217			2.01			24,566		1.79		5,545		.43
Residential real estate	621		.08		81			.01			796		.08		73		.01
Unallocated (3)	-		-		-			-			16,139		-		-		-
Total	$	59,016	.59		$	22,247		.31			$	79,878	.85		$	9,479	.11

Non-performing assets:	At		At		At		Change from
	September 30,		December 31,		September 30,		December 31,			September 30,
	2005		2004		2004		2004			2004
Non-accrual loans and leases:
Consumer home equity and other	$	9,849	$	12,187	$	11,959	$	(2,338	)	$	(2,110	)
Commercial real estate	188		1,093		1,026		(905		)	(838		)
Commercial business	2,328		4,533		2,861		(2,205		)	(533		)
Leasing and equipment finance	6,808		25,678		27,844		(18,870		)	(21,036		)
Residential real estate	2,515		3,387		2,763		(872		)	(248		)
Total non-accrual loans and leases	21,688		46,878		46,453		(25,190		)	(24,765		)
Other real estate owned:
Residential real estate	13,919		11,726		12,028		2,193			1,891
Commercial real estate	2,886		5,465		10,717		(2,579		)	(7,831		)
Total other real estate owned	16,805		17,191		22,745		(386		)	(5,940		)
Total non-performing assets	$	38,493	$	64,069	$	69,198	$	(25,576	)	$	(30,705	)

Over 30-day delinquency data (4):	At September 30,				At December 31,				At September 30,
	2005				2004				2004
	Principal		% of		Principal		% of		Principal		% of
	Balances		Portfolio		Balances		Portfolio		Balances		Portfolio
Consumer home equity and other	$	17,351	.35	%	$	15,436	.35	%	$	15,256	.36	%
Commercial real estate	36		-		32		-		1,958		.10
Commercial business	370		.08		404		.10		1,282		.29
Leasing and equipment finance	5,651		.40		8,997		.67		7,064		.54
Residential real estate	7,610		.94		9,516		.94		9,776		.94
Total	$	31,018	.31		$	34,385	.37		$	35,336	.39

Potential Problem Loans and Leases (5):	At		At		At		Change from
	September 30,		December 31,		September 30,		December 31,			September 30,
	2005		2004		2004		2004			2004
Commercial real estate	$	28,228	$	34,138	$	31,397	$	(5,910	)	$	(3,169	)
Commercial business	13,367		18,112		21,607		(4,745		)	(8,240		)
Leasing and equipment finance	9,850		18,816		17,669		(8,966		)	(7,819		)
	$	51,445	$	71,066	$	70,673	$	(19,621	)	$	(19,228	)

(1)	Annualized.
(2)	For the nine months ended September 30, 2005, net charge-offs excluding the leveraged lease were $2.4 million, or .23% annualized.
(3)	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.
(4)	Excludes non-accrual loans and leases.
(5)	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 September 30,
	2005						2004
	Average Balance		Interest		Yields and Rates (1)		Average Balance		Interest		Yields and Rates (1)
ASSETS
Investments	$	91,355	$	463	2.02	%	$	94,910	$	773	3.25	%
Securities available for sale	1,393,742		17,893		5.14		1,545,768		20,414		5.28
Loans held for sale	206,850		2,759		5.29		327,953		2,931		3.56
Loans and leases:
Consumer home equity - variable rate	2,392,934		43,543		7.22		2,547,648		35,646		5.57
Consumer home equity - fixed rate	2,454,762		41,317		6.68		1,512,853		26,035		6.85
Consumer - other	34,469		815		9.38		39,068		813		8.28
Total consumer home equity and other	4,882,165		85,675		6.96		4,099,569		62,494		6.06
Commercial real estate - variable rate	822,223		13,003		6.27		769,225		8,327		4.31
Commercial real estate - fixed and adjustable rate	1,398,340		21,687		6.15		1,243,565		19,424		6.21
Total commercial real estate	2,220,563		34,690		6.20		2,012,790		27,751		5.49
Commercial business - variable rate	348,030		5,284		6.02		357,205		3,628		4.04
Commercial business - fixed and adjustable rate	85,611		1,268		5.88		82,805		1,145		5.50
Total commercial business	433,641		6,552		5.99		440,010		4,773		4.32
Leasing and equipment finance	1,428,653		24,082		6.74		1,320,495		22,855		6.92
Subtotal	8,965,022		150,999		6.69		7,872,864		117,873		5.96
Residential real estate	849,069		12,179		5.73		1,076,619		15,422		5.72
Total loans and leases	9,814,091		163,178		6.61		8,949,483		133,295		5.93
Total interest-earning assets	11,506,038		184,293		6.37		10,918,114		157,413		5.75
Other assets	1,125,499						1,057,444
Total assets	$	12,631,537					$	11,975,558
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,539,893					$	1,512,434
Small business	600,374						525,466
Commercial and custodial	325,025						329,329
Total non-interest bearing deposits	2,465,292						2,367,229
Interest-bearing deposits:
Premier checking	694,835		4,654		2.66		248,217		826		1.32
Other checking	1,004,507		593		.23		1,140,098		187		.07
Subtotal	1,699,342		5,247		1.23		1,388,315		1,013		.29
Premier savings	436,690		3,529		3.21		109,681		498		1.81
Other savings	1,549,451		2,612		.67		1,717,789		1,341		.31
Subtotal	1,986,141		6,141		1.23		1,827,470		1,839		.40
Money market	632,293		2,091		1.31		738,769		704		.38
Subtotal	4,317,776		13,479		1.24		3,954,554		3,556		.36
Certificates of deposit	1,770,805		13,060		2.93		1,458,905		6,762		1.84
Total interest-bearing deposits	6,088,581		26,539		1.73		5,413,459		10,318		.76
Total deposits	8,553,873		26,539		1.23		7,780,688		10,318		.53
Borrowings:
Short-term borrowings	1,037,240		9,212		3.52		824,955		3,057		1.47
Long-term borrowings	1,757,968		20,472		4.62		2,059,525		19,548		3.78
Total borrowings	2,795,208		29,684		4.22		2,884,480		22,605		3.12
Total deposits and borrowings	11,349,081		56,223		1.97		10,665,168		32,923		1.23
Other liabilities	326,976						359,488
Total liabilities	11,676,057						11,024,656
Stockholders’ equity	955,480						950,902
Total liabilities and stockholders’ equity	$	12,631,537					$	11,975,558
Net interest income and margin			$	128,070	4.43	%			$	124,490	4.56	%

(1)  Annualized.

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18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Nine Months Ended September 30,
	2005						2004
	Average Balance		Interest		Yields and Rates (1)		Average Balance		Interest		Yields and Rates (1)
ASSETS
Investments	$	99,502	$	2,609	3.50	%	$	131,290	$	2,441	2.48	%
Securities available for sale	1,567,059		60,713		5.17		1,537,310		61,159		5.30
Loans held for sale	209,184		7,579		4.84		357,354		9,112		3.41
Loans and leases:
Consumer home equity - variable rate	2,561,936		130,074		6.79		2,376,149		97,059		5.46
Consumer home equity - fixed rate	2,088,550		104,784		6.71		1,488,090		77,708		6.98
Consumer - other	34,836		2,379		9.13		39,751		2,442		8.21
Total consumer home equity and other	4,685,322		237,237		6.77		3,903,990		177,209		6.06
Commercial real estate - variable rate	832,689		35,775		5.74		759,923		23,666		4.16
Commercial real estate - fixed and adjustable rate	1,363,805		62,664		6.14		1,220,457		57,306		6.27
Total commercial real estate	2,196,494		98,439		5.99		1,980,380		80,972		5.46
Commercial business - variable rate	346,674		14,379		5.55		343,946		9,833		3.82
Commercial business - fixed and adjustable rate	78,117		3,368		5.76		88,228		3,639		5.51
Total commercial business	424,791		17,747		5.59		432,174		13,472		4.16
Leasing and equipment finance	1,410,381		72,006		6.81		1,267,102		66,333		6.98
Subtotal	8,716,988		425,429		6.52		7,583,646		337,986		5.95
Residential real estate	917,241		39,307		5.72		1,130,840		48,723		5.75
Total loans and leases	9,634,229		464,736		6.45		8,714,486		386,709		5.92
Total interest-earning assets	11,509,974		535,637		6.22		10,740,440		459,421		5.71
Other assets	1,099,712						1,046,080
Total assets	$	12,609,686					$	11,786,520
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,566,767					$	1,508,102
Small business	573,240						491,729
Commercial and custodial	316,749						345,878
Total non-interest bearing deposits	2,456,756						2,345,709
Interest-bearing deposits:
Premier checking	578,967		9,709		2.24		150,094		1,468		1.31
Other checking	1,056,178		1,517		.19		1,151,426		652		.08
Subtotal	1,635,145		11,226		.92		1,301,520		2,120		.22
Premier savings	355,164		7,340		2.76		47,438		606		1.71
Other savings	1,586,367		6,394		.54		1,777,512		4,546		.34
Subtotal	1,941,531		13,734		.95		1,824,950		5,152		.38
Money market	637,696		4,726		.99		790,128		2,199		.37
Subtotal	4,214,372		29,686		.94		3,916,598		9,471		.32
Certificates of deposit	1,691,121		33,437		2.64		1,502,064		20,860		1.86
Total interest-bearing deposits	5,905,493		63,123		1.43		5,418,662		30,331		.75
Total deposits	8,362,249		63,123		1.01		7,764,371		30,331		.52
Borrowings:
Short-term borrowings	977,750		22,200		3.04		743,754		7,522		1.35
Long-term borrowings	1,981,558		61,906		4.18		1,963,440		56,166		3.82
Total borrowings	2,959,308		84,106		3.80		2,707,194		63,688		3.14
Total deposits and borrowings	11,321,557		147,229		1.74		10,471,565		94,019		1.20
Other liabilities	348,543						373,089
Total liabilities	11,670,100						10,844,654
Stockholders’ equity	939,586						941,866
Total liabilities and stockholders’ equity	$	12,609,686					$	11,786,520
Net interest income and margin			$	388,408	4.51	%			$	365,402	4.54	%

(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
	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
	2005			2005			2005			2004			2004
Interest income:
Loans and leases	$	163,178		$	155,014		$	146,544		$	140,469		$	133,295
Securities available for sale	17,893			21,325			21,495			19,484			20,414
Loans held for sale	2,759			2,566			2,254			2,421			2,931
Investments	463			1,094			1,052			1,014			773
Total interest income	184,293			179,999			171,345			163,388			157,413
Interest expense:
Deposits	26,539			20,646			15,938			12,250			10,318
Borrowings	29,684			28,068			26,354			24,649			22,605
Total interest expense	56,223			48,714			42,292			36,899			32,923
Net interest income	128,070			131,285			129,053			126,489			124,490
Provision for credit losses	3,394			1,427			(3,436		)	4,073			2,644
Net interest income after provision for credit losses	124,676			129,858			132,489			122,416			121,846
Non-interest income:
Fees and service charges	69,431			65,824			57,031			67,385			71,353
Card revenue	21,025			19,717			17,642			17,609			16,339
ATM revenue	10,646			10,795			9,732			10,326			11,474
Investments and insurance revenue	2,682			2,791			2,853			2,609			3,057
Subtotal	103,784			99,127			87,258			97,929			102,223
Leasing and equipment finance	10,197			11,092			10,693			21,047			6,864
Mortgage banking	982			216			1,142			(122		)	4,132
Other	7,743			2,833			7,816			7,457			2,584
Fees and other revenue	122,706			113,268			106,909			126,311			115,803
Gains on sales of securities available for sale	995			4,437			5,239			6,204			3,679
Total non-interest income	123,701			117,705			112,148			132,515			119,482
Non-interest expense:
Compensation and employee benefits	80,402			81,973			81,451			86,338			78,010
Occupancy and equipment	25,931			24,771			25,379			25,057			23,673
Advertising and promotions	6,578			6,778			6,247			6,568			7,377
Deposit account losses	6,680			3,775			3,661			5,675			7,421
Other	34,412			32,950			31,373			30,758			31,445
Total non-interest expense	154,003			150,247			148,111			154,396			147,926
Income before income tax expense	94,374			97,316			96,526			100,535			93,402
Income tax expense	28,888			26,675			33,061			33,133			31,690
Net income	$	65,486		$	70,641		$	63,465		$	67,402		$	61,712
Net income per common share:
Basic	$	.50		$	.53		$	.47		$	.50		$	.45
Diluted	$	.50		$	.53		$	.47		$	.50		$	.45
Dividends declared per common share	$	.2125		$	.2125		$	.2125		$	.1875		$	.1875
Financial Ratios:
Return on average assets (1)	2.07		%	2.22		%	2.03		%	2.22		%	2.06		%
Return on average common equity (1)	27.41			30.23			27.18			28.35			25.96
Net interest margin (1)	4.43			4.53			4.56			4.56			4.56
Net charge-offs (recoveries) as a percentage of average loans and leases (1)	.85			.08			(.02		)	.14			.17
Average total equity to average assets	7.56			7.36			7.48			7.81			7.94
Average tangible equity to average assets	6.33			6.13			6.22			6.52			6.63

(1)  Annualized.

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20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)

	Sept. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,
	2005			2005			2005			2004			2004
ASSETS
Cash and due from banks	$	346,065		$	331,110		$	332,800		$	350,497		$	351,383
Investments	91,355			101,305			106,006			105,603			94,910
Securities available for sale	1,393,742			1,646,986			1,663,412			1,534,776			1,545,768
Loans held for sale	206,850			213,279			207,430			254,617			327,953
Loans and leases:
Consumer home equity - variable rate	2,392,934			2,594,538			2,701,729			2,699,156			2,547,648
Consumer home equity - fixed rate	2,454,762			2,048,035			1,755,164			1,571,494			1,512,853
Consumer - other	34,469			34,012			36,046			37,403			39,068
Total consumer home equity and other	4,882,165			4,676,585			4,492,939			4,308,053			4,099,569
Commercial real estate - variable rate	822,223			834,876			841,176			805,219			769,225
Commercial real estate - fixed and  adjustable rate	1,398,340			1,365,132			1,327,160			1,288,793			1,243,565
Total commercial real estate	2,220,563			2,200,008			2,168,336			2,094,012			2,012,790
Commercial business - variable rate	348,030			359,269			332,555			353,752			357,205
Commercial business - fixed and adjustable rate	85,611			73,654			74,968			76,906			82,805
Total commercial business	433,641			432,923			407,523			430,658			440,010
Leasing and equipment finance	1,428,653			1,412,520			1,389,541			1,341,985			1,320,495
Subtotal	8,965,022			8,722,036			8,458,339			8,174,708			7,872,864
Residential real estate	849,069			919,379			984,764			1,027,302			1,076,619
Total loans and leases	9,814,091			9,641,415			9,443,103			9,202,010			8,949,483
Allowance for loan and lease losses	(76,207		)	(76,774		)	(79,918		)	(79,502		)	(80,077		)
Net loans and leases	9,737,884			9,564,641			9,363,185			9,122,508			8,869,406
Premises and equipment	345,641			333,614			328,336			322,492			313,068
Goodwill	152,599			152,599			152,599			152,599			152,599
Mortgage servicing rights	38,773			42,218			45,101			49,746			51,380
Other assets	318,628			316,281			295,107			276,498			269,091
	$	12,631,537		$	12,702,033		$	12,493,976		$	12,169,336		$	11,975,558
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest-bearing deposits:
Retail	$	1,539,893		$	1,589,015		$	1,571,740		$	1,493,344		$	1,512,434
Small business	600,374			571,701			547,060			557,103			525,466
Commercial and custodial	325,025			311,463			313,635			332,228			329,329
Total non-interest bearing deposits	2,465,292			2,472,179			2,432,435			2,382,675			2,367,229
Interest-bearing deposits:
Premier checking	694,835			580,093			459,385			343,266			248,217
Other checking	1,004,507			1,075,421			1,089,541			1,106,934			1,140,098
Subtotal	1,699,342			1,655,514			1,548,926			1,450,200			1,388,315
Premier savings	436,690			345,567			281,529			198,769			109,681
Other savings	1,549,451			1,603,720			1,606,560			1,621,810			1,717,789
Subtotal	1,986,141			1,949,287			1,888,089			1,820,579			1,827,470
Money market	632,293			633,762			647,197			685,885			738,769
Subtotal	4,317,776			4,238,563			4,084,212			3,956,664			3,954,554
Certificates of deposit	1,770,805			1,707,919			1,592,682			1,469,735			1,458,905
Total interest-bearing deposits	6,088,581			5,946,482			5,676,894			5,426,399			5,413,459
Total deposits	8,553,873			8,418,661			8,109,329			7,809,074			7,780,688
Borrowings:
Short-term borrowings	1,037,240			920,471			974,853			1,003,746			824,955
Long-term borrowings	1,757,968			2,075,264			2,115,369			2,045,505			2,059,525
Total borrowings	2,795,208			2,995,735			3,090,222			3,049,251			2,884,480
Accrued expenses and other liabilities	326,976			352,861			360,362			360,004			359,488
Total liabilities	11,676,057			11,767,257			11,559,913			11,218,329			11,024,656
Stockholders’ equity:
Common stock	1,844			1,845			1,846			1,850			1,206
Additional paid-in capital	496,496			497,810			503,762			518,012			517,020
Retained earnings	1,473,273			1,431,903			1,394,163			1,360,169			1,318,461
Accumulated other comprehensive loss	(3,104		)	(1,992		)	(4,139		)	(527		)	(2,781		)
Treasury stock at cost and other	(1,013,029		)	(994,790		)	(961,569		)	(928,497		)	(883,004		)
	955,480			934,776			934,063			951,007			950,902
	$	12,631,537		$	12,702,033		$	12,493,976		$	12,169,336		$	11,975,558
Supplemental Information:
Securities available for sale	$	1,393,742		$	1,646,986		$	1,663,412		$	1,534,776		$	1,545,768
Residential real estate loans	849,069			919,379			984,764			1,027,302			1,076,619
Total securities available for sale and residential real estate loans	$	2,242,811		$	2,566,365		$	2,648,176		$	2,562,078		$	2,622,387

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21

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Sept. 30,		Jun. 30,		Mar. 31,		Dec. 31,		Sept. 30,
	2005		2005		2005		2004		2004
ASSETS
Investments	2.02	%	4.33	%	4.01	%	3.83	%	3.25	%
Securities available for sale	5.14		5.18		5.17		5.08		5.28
Loans held for sale	5.29		4.83		4.41		3.78		3.56
Loans and leases:
Consumer home equity - variable rate	7.22		6.77		6.41		6.00		5.57
Consumer home equity - fixed rate	6.68		6.72		6.73		6.78		6.85
Consumer - other	9.38		9.19		8.83		8.17		8.28
Total consumer home equity and other	6.96		6.77		6.56		6.30		6.06
Commercial real estate - variable rate	6.27		5.72		5.24		4.74		4.31
Commercial real estate - fixed and adjustable rate	6.15		6.14		6.13		6.14		6.21
Total commercial real estate	6.20		5.98		5.79		5.60		5.49
Commercial business - variable rate	6.02		5.56		5.02		4.48		4.04
Commercial business - fixed and adjustable rate	5.88		5.75		5.65		5.77		5.50
Total commercial business	5.99		5.59		5.14		4.71		4.32
Leasing and equipment finance	6.74		6.83		6.85		6.86		6.92
Subtotal	6.69		6.52		6.34		6.13		5.96
Residential real estate	5.73		5.71		5.70		5.69		5.72
Total loans and leases	6.61		6.44		6.27		6.08		5.93
Total interest-earning assets	6.37		6.22		6.06		5.87		5.75
LIABILITIES
Interest-bearing deposits:
Premier checking	2.66		2.04		1.86		1.65		1.32
Other checking	.23		.21		.14		.10		.07
Subtotal	1.23		.85		.65		.47		.29
Premier savings	3.21		2.51		2.38		2.20		1.81
Other savings	.67		.53		.42		.30		.31
Subtotal	1.23		.88		.71		.51		.40
Money market	1.31		.99		.67		.46		.38
Subtotal	1.24		.89		.68		.49		.36
Certificates of deposit	2.93		2.65		2.32		2.01		1.84
Total interest-bearing deposits	1.73		1.39		1.14		.90		.76
Total deposits	1.23		.98		.80		.62		.53
Borrowings:
Short-term borrowings	3.52		3.01		2.53		2.04		1.47
Long-term borrowings	4.62		4.09		3.88		3.80		3.78
Total borrowings	4.22		3.76		3.46		3.22		3.12
Total interest-bearing liabilities	1.97		1.71		1.53		1.35		1.23
Net interest margin	4.43	%	4.53	%	4.56	%	4.56	%	4.56	%

(1)  Annualized.

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