Exhibit 99.1
TCF Financial Corporation
Investing in the Future
1.) Corporate Profile
At September 30, 2005
• $12.7 billion financial holding company headquartered in Minnesota
• 47th largest¹ bank in the U.S. based on asset size
• 39th largest¹ based on market cap
• 442 bank branches, 140 branches opened since January 1, 2000
• 22nd in total number of retail branches2
• 1,755 ATMs free to TCF customers; 1,262 off-site
• 12th largest issuer of VISA® Classic debit cards3
• 15th largest issuer of VISA® Commercial debit cards3
• 22nd largest overall issuer of VISA® cards3
• ROA 2.11%; ROE 28.32%; ROTE4 34.11%
• 1,612,497 checking accounts
¹ Source: CapitalBridge, 6/30/05
2 Source: SNL Financial, LLC, 10/17/05; bank and thrift holding companies
3 Source: VISA; 2Q05
4 Excludes the impact of intangible amortization expense (see reconciliation slide in the appendix)
2.) Corporate Profile
At September 30, 2005
• Bank branches located in six states
| | At 9/30/05 | | At 1/1/00 |
Traditional | | 182 | | 136 |
Supermarket | | 251 | | 195 |
Campus | | 9 | | 7 |
Total | | 442 | | 338 |
| | At 9/30/05 | | At 1/1/00 |
Minnesota | | 104 | | 82 |
Illinois | | 199 | | 150 |
Michigan | | 62 | | 64 |
Wisconsin | | 34 | | 31 |
Colorado | | 37 | | 10 |
Indiana | | 6 | | 1 |
Total | | 442 | | 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
• 1,755 ATMs free to TCF customers
• Debit cards
• Phone banking
• TCF Totally Free OnlineSM banking
• 976,579 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 400,000 shares of common stock during the 2005 third quarter at an average cost of $27.79 per share
• Since 1/1/98:
• TCF repurchased 58 million shares at an average cost of $18.15 per share
• $1 billion investment
• $1.5 billion value at 9/30/05
• At 9/30/05, 6.7 million shares remain available to purchase under board authorizations
6.) Return of Net Income to Shareholders
| | Net
Income | | Stock
Repurchase | | Dividends
Paid | | Total | | % of Net
Income | |
| | ($ millions) | |
| | | |
2001 | | $ | 207.3 | | $ | 148.0 | | $ | 77.5 | | $ | 225.5 | | 109% | |
2002 | | 232.9 | | 148.0 | | 86.5 | | 234.5 | | 101 | |
2003 | | 215.9 | | 150.4 | | 93.0 | | 243.4 | | 113 | |
2004 | | 255.0 | | 116.1 | | 104.0 | | 220.1 | | 86 | |
2005¹ | | 199.6 | | 93.5 | | 86.1 | | 179.6 | | 90 | |
| | | | | | | | | | | |
Total | | $ | 1,110.7 | | $ | 656.0 | | $ | 447.1 | | $ | 1,103.1 | | 99% | |
| | | | | | | | | | | | | | | | |
¹ Year-to-date
7.) Consumer Home Equity Lending +19%*
Loan-to-value | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
80% or less | | $ | 1,178.8 | | $ | 1,488.5 | | $ | 1,816.7 | | $ | 2,149.4 | | $ | 2,531.9 | |
Over 80 to 90% | | $ | 802.1 | | $ | 1,028.2 | | $ | 1,370.5 | | $ | 1,750.5 | | $ | 1,850.0 | |
Over 90 to 100% | | $ | 396.3 | | $ | 385.0 | | $ | 361.4 | | $ | 449.3 | | $ | 586.6 | |
Over 100% | | $ | 66.6 | | $ | 53.9 | | $ | 39.5 | | $ | 32.8 | | $ | 28.9 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 2,444 | | $ | 2,956 | | $ | 3,588 | | $ | 4,382 | | $ | 4,997 | |
* Twelve-month growth rate
8.) Consumer Home Equity Loans
At September 30, 2005
• 70% amortizing loans, 30% lines of credit
• 45% variable rate (prime based) and 55% fixed rate
• 66% are 1st mortgages, 34% are 2nd mortgages
• Average home value of $209,763
• Yield 7.01%
• Over-30-day delinquency rate .34%
• Net charge-offs: 2005 = .09%¹, 2004 = .09%, 2003 = .11%
• Average loan-to-value 75%
• Average FICO score 719
¹ Annualized
9.) Commercial Lending +8%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Commercial Real Estate | | $ | 1,622.5 | | $ | 1,835.8 | | $ | 1,916.7 | | $ | 2,154.4 | | $ | 2,241.1 | |
Commercial Business | | $ | 422.4 | | $ | 440.1 | | $ | 427.7 | | $ | 424.1 | | $ | 438.0 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 2,045 | | $ | 2,276 | | $ | 2,344 | | $ | 2,579 | | $ | 2,679 | |
* Twelve-month growth rate
10.) Commercial Loans
At September 30, 2005
• Commercial real estate
• 24% apartment loans
• 18% office building loans
• 5% hotel loans
• Commercial business — $438 million
• Yield 6.28%
• Over-30-day delinquency rate .02%
• Net (recoveries) charge-offs: 2005 = (.12)%¹, 2004 = .03% , 2003 = .09%
• Approximately 99% of all commercial loans secured
• CRE location mix: 94% Midwest, 6% Other
¹ Annualized
11.) Leasing and Equipment Finance +7%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Leasing and Equipment Finance | | $ | 957 | | $ | 1,039 | | $ | 1,160 | | $ | 1,375 | | $ | 1,424 | |
| | | | | | | | | | | | | | | | |
* Twelve-month growth rate
12.) Leasing and Equipment Finance
At September 30, 2005
• 38th largest equipment finance/leasing company in the U.S.¹
• 18th largest bank-owned equipment finance/leasing company in the U.S.¹
• Equipment type
• 34% manufacturing and construction
• 17% specialty vehicle
• 15% technology and data processing
• 13% medical
• 21% other
• Yield 6.70%
• Uninstalled backlog of $248.1 million; up $53 million from year-end 2004
• Over-30-day delinquency rate .40%
• Net charge-offs excluding Delta leveraged lease: 2005 = .23%², 2004 = ..43%, 2003 = .69%
¹ Source: Equipment Leasing Association; 6/05
² Annualized
13.) Allowance for Loan & Lease Losses
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | | |
| | ($ millions) | | |
| | | | | | | | | | | | |
Allowance for Loan & Lease Losses | | $ | 75.0 | | $ | 77.0 | | $ | 76.6 | | $ | 79.9 | | $ | 59.0 | | |
Net Charge-offs (NCO) | | $ | 12.5 | | $ | 20.0 | | $ | 12.9 | | $ | 9.5 | | $ | 22.2 | | |
| | | | | | | | | | | | | | | | | |
As a % of Loans & Leases: | | | | | | | | | | | | |
Allowance | | .91% | | .95% | | .92% | | .85% | | .59% | | |
NCO | | .15% | | .25% | | .16% | | .11% | | .31% | | ¹,² |
Coverage Ratio | | 6.0X | | 3.8X | | 5.9X | | 8.4X | | 2.0X | ¹ |
¹ Annualized
² Net charge-offs excluding Delta leveraged lease .05% (annualized)
14.) Delinquencies (Over 30-day)1
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Delinquencies | | $ | 46.8 | | $ | 46.3 | | $ | 38.7 | | $ | 34.4 | | $ | 31.0 | |
| | | | | | | | | | | | | | | | |
Delinquencies (percent) | | .57% | | .57% | | .47% | | .37% | | .31% |
1 Excludes non-accrual loans and leases
15.) Non-Performing Assets
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Non-Accrual Loans and Leases | | $ | 52.0 | | $ | 43.6 | | $ | 35.4 | | $ | 46.9 | | $ | 21.7 | |
Real Estate Owned | | $ | 14.6 | | $ | 26.6 | | $ | 33.5 | | $ | 17.2 | | $ | 16.8 | |
Total | | $ | 66.6 | | $ | 70.2 | | $ | 68.9 | | $ | 64.1 | | $ | 38.5 | |
| | | | | | | | | | | | | | | | |
Reserves/NAs: | | 144% | | 176% | | 216% | | 170% | | 272% | |
NPAs/Assets: | | .59% | | .58% | | .61% | | .52% | | .30% | |
16.) Retail Banking
17.) Checking Accounts +6%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | (000s) | |
| | | | | | | | | | | |
Supermarket Branches | | 496 | | 549 | | 608 | | 652 | | 683 | |
Traditional & Campus Branches | | 753 | | 789 | | 836 | | 883 | | 929 | |
| | | | | | | | | | | |
Total | | 1,249 | | 1,338 | | 1,444 | | 1,535 | | 1,612 | |
* 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 | | $ | 103.8 | |
Fourth Quarter | | $ | 77.6 | | $ | 91.1 | | $ | 90.0 | | $ | 97.9 | | $ | — | |
| | | | | | | | | | | | | | | | |
Total | | $ | 293 | | $ | 334 | | $ | 358 | | $ | 390 | | $ | 290 | |
¹ Consisting of fees and service charges, card revenue, ATM revenue, and investments and insurance revenue
19.) Retail Checking Deposits +16%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | |
Supermarket Branches | | $ | 591 | | $ | 695 | | $ | 829 | | $ | 1,000 | | $ | 1,115 | |
Traditional & Campus Branches | | $ | 1,715 | | $ | 1,903 | | $ | 2,146 | | $ | 2,565 | | $ | 2,778 | |
| | | | | | | | | | | | | | | | |
Total | | $ | 2,306 | | $ | 2,598 | | $ | 2,975 | | $ | 3,565 | | $ | 3,893 | |
| | | | | | | | | | | | | | | | |
Average Rate: | | .07% | | .05% | | .01% | | .22% | | .60% | |
* Twelve-month growth rate
20.) Retail Deposits +10%*
Quarterly Average Balances
($ millions)
| | 9/30/05 | | 9/30/04 | |
Non-interest bearing checking | | $ | 2,465 | | $ | 2,367 | |
Premier checking | | | 695 | | | 248 | |
Other int. bearing checking | | | 1,005 | | | 1,140 | |
Subtotal | | | 4,165 | | | 3,755 | |
Premier savings | | | 437 | | | 110 | |
Other savings | | | 1,549 | | | 1,718 | |
Subtotal | | | 1,986 | | | 1,828 | |
Money Market | | | 632 | | | 739 | |
Certificates | | | 1,771 | | | 1,459 | |
Total | | $ | 8,554 | | $ | 7,781 | |
| | | | | | | |
Average Rate: | | | 1.23 | % | | .53 | % |
*Annual growth rate
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 | | $ | 21.0 | |
Fourth Quarter | | $ | 10.1 | | $ | 13.1 | | $ | 12.1 | | $ | 17.7 | | $ | — | |
| | | | | | | | | | | | | | | | |
Total | | $ | 37.6 | | $ | 47.2 | | $ | 53.0 | | $ | 63.5 | | $ | 58.4 | |
| | | | | | | | | | | | | | | | |
Sales Volume: | | $ | 2,560 | | $ | 3,216 | | $ | 3,899 | | $ | 4,735 | | $ | 4,142¹ | |
| | | | | | | | | | | | | | | | |
Average off-line interchange rate: | | 1.55% | | 1.55% | | 1.43% | | 1.40% | | 1.43%¹ | |
¹ Year-to-date
* Year-to-date growth rate (‘05 vs. ‘04)
22.) Card Revenue
• 12th largest issuer of VISA® Classic debit cards¹
• 15th largest issuer of VISA® Commercial debit cards¹
• 22nd largest overall issuer of VISA® cards¹
• 20% increase in sales volume²
• 29% increase in revenue to $21.0 million²
• Number of active accounts up 50,514 or 7%²
• 15.5 transactions per month on active cards, up 14%²
¹ Source: VISA; 2Q05
² 3Q05 vs. 3Q04
23.) Small Business Checking Deposits +13%*
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Small Business Checking Deposits | | $ | 313 | | $ | 380 | | $ | 461 | | $ | 546 | | $ | 609 | |
| | | | | | | | | | | | | | | | |
Average Rate: | | 0% | | 0% | | 0% | | 0% | | 0% | |
| | | | | | | | | | | |
# of Accounts | | 79,865 | | 91,385 | | 102,557 | | 113,605 | | 121,643 | |
* Twelve-month growth rate
24.) Small Business Services and Products
At September 30, 2005
• $609 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 $500,000
• 76,412 TCF Business Check CardsSM
• Introduced TCF Miles Plus Business Check CardSM loyalty program in April 2005
25.) New Branch Expansion
26.) Total New Branches
Branches opened since January 1, 2000
| | Traditional | | | | | | # of Branches | | | |
| | and Campus | | Supermarket | | Total | | Opened | | Percent of Total | |
| | | |
| 12/00 | | | 3 | | 21 | | 24 | | 25 | | 7% | |
| 12/01 | | | 8 | | 41 | | 49 | | 26 | | 13% | |
| 12/02 | | | 20 | | 56 | | 76 | | 27 | | 19% | |
| 12/03 | | | 34 | | 61 | | 95 | | 19 | | 24% | |
| 12/04 | | | 53 | | 72 | | 125 | | 30 | | 29% | |
| 9/05 | | | 64 | | 76 | | 140 | | 15 | | 32% | |
| 2005 Forecast | | 74 | | 79 | | 153 | | 28 | | 34% | |
27.) New Traditional Branch Model - Net Income
($ 000s)
| | 1 | | 2 | | 3 | | 4 | | 5 | | 6 | | 7 | | 8 | | 9 | | 10 | |
| | Year of Existence | |
Traditional Branch (net income) | | $ | (362 | ) | $ | (32 | ) | $ | 157 | | $ | 320 | | $ | 384 | | $ | 491 | | $ | 570 | | $ | 555 | | $ | 630 | | $ | 692 | |
| | | | | | | | | | | | | | | | | | | | | |
Traditional branch capital expenditure $3 million | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Includes deposits and consumer lending
28.) New Branch Expansion
• Ranked 4th among all major U.S. banks in branch expansion rate¹ during 2004
• New branch expansion continues to be a “growth engine” for TCF:
• Emphasis on traditional branch expansion, primarily in the Colorado, Illinois and Michigan markets
• Improve customer banking experience through continued branch redesign and corporate branding
• Continued high standards in acquiring prime real estate sites
¹ Source: American Banker 4/19/05
29.) New Branch Total Deposits +91%*
Branches opened since January 1, 2000
| | 12/00 | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | | | |
Deposits | | $ | 52 | | $ | 97 | | $ | 250 | | $ | 353 | | $ | 570 | | $ | 983 | |
| | | | | | | | | | | | | | | | | | | |
* Twelve-month growth rate
30.) New Branch Total Checking Accounts +32%*
Branches opened since January 1, 2000
| | 12/00 | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | (000s) | |
| | | | | | | | | | | | | |
Checking Accounts | | 12 | | 42 | | 83 | | 142 | | 206 | | 256 | |
* Twelve-month growth rate
31.) New Branch Banking Fees & Other Revenue¹ +32%*
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 | | $ | 18.5 | |
Fourth Quarter | | $ | 0.8 | | $ | 2.6 | | $ | 5.4 | | $ | 8.4 | | $ | 14.5 | | $ | — | |
| | | | | | | | | | | | | | | | | | | |
Total | | $ | 2 | | $ | 7 | | $ | 17 | | $ | 29 | | $ | 51 | | $ | 50 | |
¹ Consisting of fees and service charges, card revenue, ATM revenue, and investments and insurance revenue.
* Twelve-month growth rate
32.) New Branch Consumer Loans +45%*
Branches opened since January 1, 2000
| | Consumer Loans |
| | ($ millions) |
12/00 | | $ | 5 |
12/01 | | $ | 28 |
12/02 | | $ | 94 |
12/03 | | $ | 204 |
12/04 | | $ | 366 |
9/05 | | $ | 477 |
* Twelve-month growth rate
33.) Campus Banking
At September 30, 2005
• Alliances with the University of Minnesota and University of Michigan plus nine other colleges, including the latest agreements with DePaul University in Chicago and Milwaukee Area Technical College
• 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.
• 95,495 total checking accounts
• $154.9 million in total deposits
34.) New Products and Services
• TCF MILES PLUSSM Card Loyalty Programs
• Premier (Retail)
• Small Business
• TCF Check CashingSM and Money Transfers
• Electronic statement delivery
• TCF index Investment StrategiesTM
• TCF Visa® Gift Card
• TCF Express Check Conversion
• Medical equipment leasing
35.) Premier Checking & Savings Deposits +190%*
Quarterly Average Balances
($000s)
| | 9/30/04 | | 12/31/04 | | 3/31/05 | | 6/30/05 | | 9/30/05 | | | |
| | | |
| | | | | | | | | | | | | |
Premier Checking | | $ | 291 | | $ | 397 | | $ | 525 | | $ | 627 | | $ | 764 | | | | |
Premier Savings | | $ | 156 | | $ | 244 | | $ | 324 | | $ | 370 | | $ | 533 | | | | |
Total | | $ | 447 | | $ | 641 | | $ | 849 | | $ | 997 | | $ | 1,297 | | | | |
| | | | | | | | | | | | | | | | | | | |
Average Rate: | | 1.48% | | 1.86% | | 2.03% | | 2.21% | | 2.89% | | | | |
*Twelve-month growth rate
36.) Financial Highlights
37.) 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 | | $ | 1.50 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
¹ Year-to-date
* Year-to-date growth rate (‘05 vs. ‘04)
38.) Dividend History +13%*
| | 1996 | | 1997 | | 1998 | | 1999 | | 2000 | | 2001 | | 2002 | | 2003 | | 2004 | | 2005² | |
| | | | | | | | | | | | | | | | | | | | | |
Dividends Paid | | $ | .18 | | $ | .23 | | $ | .31 | | $ | .36 | | $ | .41 | | $ | .50 | | $ | .58 | | $ | .65 | | $ | .75 | | $ | .64 | |
| | | | | | | | | | | | | | | | | | | | | |
Dividend payout ratio: | | 30% | | 28% | | 35% | | 36% | | 35% | | 37% | | 37% | | 43% | | 40% | | 43% | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
10-year compounded annual growth rate 19%
Ranks 6th of the Top 50 Banks¹
¹ Source: CapitalBridge
² Year-to-date
* Annual growth rate (‘05 vs. ‘04)
39.) Net Income +6%*
| | 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 | | $ | 65.5 | |
Fourth Quarter | | $ | 54.2 | | $ | 59.8 | | $ | 59.5 | | $ | 67.4 | | $ | — | |
| | | | | | | | | | | |
Total | | $ | 207 | | $ | 233 | | $ | 216 | | $ | 255 | | $ | 200 | |
¹ Year-to-date
* Year-to-date growth rate (‘05 vs. ‘04)
40.) Net Interest Income +6%*
| | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | | |
| | ($ 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 | | $ | 128.0 | | |
Fourth Quarter | | $ | 125.7 | | $ | 126.6 | | $ | 119.1 | | $ | 126.5 | | $ | — | | |
| | | | | | | | | | | | |
Total | | $ | 481 | | $ | 499 | | $ | 481 | | $ | 492 | | $ | 388 | | |
| | | | | | | | | | | | |
Net Interest Margin: | | 4.51% | | 4.71% | | 4.54% | | 4.54% | | 4.51% | | ¹ |
¹ Year-to-date
* Year-to-date growth rate (‘05 vs. ‘04)
41.) Financial Highlights
($ millions, except per-share data)
| | Year-to-Date | | |
| | 2005 | | 2004 | | Change |
Net Interest Income | | $ | 388.4 | | $ | 365.4 | | 6.3 | % |
Fees & Other Revenue: | | | | | | | |
Banking | | 290.2 | | 292.5 | | (.8 | ) |
Other | | 52.7 | | 49.0 | | 7.5 | |
Total Fees and Other Revenue | | 342.9 | | 341.5 | | .4 | |
Gains on Sales of Securities | | 10.7 | | 16.4 | | (34.9 | ) |
Total Non-Interest Income | | 353.6 | | 357.9 | | (1.2 | ) |
Total Revenue | | 742.0 | | 723.3 | | 2.6 | |
Provision for Credit Losses | | 1.4 | | 6.9 | | (79.7 | ) |
Non-Interest Expense | | 452.4 | | 432.5 | | 4.6 | |
Net Income | | $ | 199.6 | | $ | 187.6 | | 6.4 | |
| | | | | | | |
Diluted EPS | | $ | 1.50 | | $ | 1.36 | | 10.3 | |
ROA | | 2.11% | | 2.12% | | (1 | )bps |
ROE | | 28.32% | | 26.56% | | 176 | bps |
42.) Power ProfitsSM
Average Balance ($ millions)
Profit center net income ($ 000s)
| | | | YTD 2005 | | | |
| | Balance | | Net Income | | % | |
Commercial Lending | | $ | 2,621 | | $ | 23,736 | | 12 | % |
Consumer Lending | | 4,685 | | 41,808 | | 21 | |
Leasing and Equipment Finance | | 1,410 | | 23,800 | | 12 | |
Total Power Assets ® | | $ | 8,716 | | 89,344 | | 45 | |
| | | | | | | |
Traditional and Campus Branches (191) | | $ | 6,590 | | 58,397 | | 29 | |
Supermarket Branches (251) | | 1,772 | | 24,458 | | 12 | |
Total Power Liabilities ® | | $ | 8,362 | | 82,855 | | 41 | |
Total Power Assets & Liabilities | | | | 172,199 | | 86 | |
Equity | | | | 17,312 | | 9 | |
Total Power Businesses | | | | 189,511 | | 95 | |
Gains on Sales of Securities | | | | 7,390 | | 4 | |
Treasury Services and Other | | | | 2,691 | | 1 | |
Net Income | | | | $ | 199,592 | | 100 | % |
43.) Securities Available for Sale and Residential Portfolios
Ending Balance | | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Securities available for sale portfolio1 | | $ | 1,575 | | $ | 2,355 | | $ | 1,524 | | $ | 1,622 | | $ | 1,340 | |
Residential portfolio | | 2,733 | | 1,800 | | 1,213 | | 1,014 | | 816 | |
Total | | $ | 4,308 | | $ | 4,155 | | $ | 2,737 | | $ | 2,636 | | $ | 2,156 | |
| | | | | | | | | | | |
Yield: | | 6.76% | | 6.25% | | 5.55% | | 5.29% | | 5.37% | |
% of Total Assets | | 37.9% | | 34.1% | | 24.2% | | 21.4% | | 16.9% | |
1 Based on historical amortized cost
44.) TCF vs Top 50 Banks
45.) Top 50 Banks¹ - Return on Assets
Quarter Ended June 30, 2005
(Percent)
TCF FINL CORP | | TCB | | 2.22 | % |
US BANCORP | | USB | | 2.19 | % |
MELLON FINANCIAL | | MEL | | 2.10 | % |
NATL CITY CORP | | NCC | | 2.04 | % |
NORTH FORK BANCP | | NFB | | 1.94 | % |
SYNOVUS FINL | | SNV | | 1.88 | % |
WELLS FARGO & CO | | WFC | | 1.71 | % |
MARSHALL &ILSLEY | | MI | | 1.71 | % |
MERCANTILE BANKS | | MRBK | | 1.64 | % |
BB&T CORPORATION | | BBT | | 1.59 | % |
ASSOC BANC-CORP | | ASBC | | 1.58 | % |
CITY NATL CORP | | CYN | | 1.55 | % |
COMMERCE BCSHS | | CBSH | | 1.54 | % |
COMERICA INC | | CMA | | 1.50 | % |
WESTCORP | | WES | | 1.50 | % |
BANK NEW YORK | | BK | | 1.48 | % |
FIFTH THIRD BANC | | FITB | | 1.48 | % |
HIBERNIA CORP -A | | HIB | | 1.47 | % |
FULTON FINANCIAL | | FULT | | 1.47 | % |
PNC FINANCIAL SE | | PNC | | 1.47 | % |
UNIONBANCAL CORP | | UB | | 1.46 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 1.46 | % |
REGIONS FINL | | RF | | 1.46 | % |
BANK OF AMERICA | | BAC | | 1.45 | % |
M&T BANK CORP | | MTB | | 1.44 | % |
CITIGROUP INC | | C | | 1.43 | % |
VALLEY NATL BANC | | VLY | | 1.38 | % |
COMPASS BANCSHS | | CBSS | | 1.37 | % |
ZIONS BANCORP | | ZION | | 1.37 | % |
INVESTORS FINL | | IFIN | | 1.34 | % |
AMSOUTH BANCORP | | ASO | | 1.33 | % |
FIRST HORIZON NA | | FHN | | 1.33 | % |
BOK FINL CORP | | BOKF | | 1.31 | % |
WACHOVIA CORP | | WB | | 1.29 | % |
SKY FINANCIAL GR | | SKYF | | 1.28 | % |
POPULAR INC | | BPOP | | 1.23 | % |
HUNTINGTON BANC | | HBAN | | 1.20 | % |
SUNTRUST BANKS | | STI | | 1.20 | % |
NORTHERN TRUST | | NTRS | | 1.20 | % |
KEYCORP | | KEY | | 1.15 | % |
HUDSON CITY BANCORP | | HCBK | | 1.12 | % |
COLONIAL BANCGRO | | CNB | | 1.05 | % |
SOVEREIGN BANCORP INC | | SOV | | 1.01 | % |
COMMERCE BANC NJ | | CBH | | 1.00 | % |
WEBSTER FINANCIAL CORP | | WBS | | .92 | % |
SOUTH FINANCIAL | | TSFG | | .91 | % |
STATE ST CORP | | STT | | .81 | % |
BANKNORTH GROUP | | BNK | | .81 | % |
FIRST CITIZENS-A | | FCNCA | | .72 | % |
JP MORGAN CHASE | | JPM | | .63 | % |
| | | | | |
AVERAGE | | | | 1.39 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
Source: CapitalBridge
46.) Top 50 Banks¹ - Return on Equity
Quarter Ended June 30, 2005
(Percent)
TCF FINL CORP | | TCB | | 30.23 | % |
NATL CITY CORP | | NCC | | 22.78 | % |
INVESTORS FINL | | IFIN | | 22.43 | % |
US BANCORP | | USB | | 22.36 | % |
FIRST HORIZON NA | | FHN | | 20.89 | % |
CITIGROUP INC | | C | | 20.16 | % |
VALLEY NATL BANC | | VLY | | 19.87 | % |
WELLS FARGO & CO | | WFC | | 19.51 | % |
COMPASS BANCSHS | | CBSS | | 19.20 | % |
MELLON FINANCIAL | | MEL | | 19.18 | % |
AMSOUTH BANCORP | | ASO | | 19.03 | % |
COMMERCE BANC NJ | | CBH | | 18.99 | % |
POPULAR INC | | BPOP | | 18.55 | % |
MARSHALL &ILSLEY | | MI | | 17.98 | % |
SYNOVUS FINL | | SNV | | 17.91 | % |
WESTCORP | | WES | | 17.58 | % |
UNIONBANCAL CORP | | UB | | 17.30 | % |
BANK OF AMERICA | | BAC | | 16.94 | % |
ASSOC BANC-CORP | | ASBC | | 16.84 | % |
FIFTH THIRD BANC | | FITB | | 16.56 | % |
CITY NATL CORP | | CYN | | 16.46 | % |
COMERICA INC | | CMA | | 16.30 | % |
BANK NEW YORK | | BK | | 16.24 | % |
NORTHERN TRUST | | NTRS | | 16.19 | % |
HIBERNIA CORP -A | | HIB | | 16.15 | % |
COMMERCE BCSHS | | CBSH | | 15.76 | % |
PNC FINANCIAL SE | | PNC | | 15.69 | % |
ZIONS BANCORP | | ZION | | 15.66 | % |
HUNTINGTON BANC | | HBAN | | 15.45 | % |
BB&T CORPORATION | | BBT | | 14.92 | % |
WACHOVIA CORP | | WB | | 14.85 | % |
NORTH FORK BANCP | | NFB | | 14.62 | % |
KEYCORP | | KEY | | 14.39 | % |
BOK FINL CORP | | BOKF | | 14.34 | % |
FULTON FINANCIAL | | FULT | | 14.11 | % |
SKY FINANCIAL GR | | SKYF | | 13.83 | % |
SUNTRUST BANKS | | STI | | 13.35 | % |
M&T BANK CORP | | MTB | | 13.31 | % |
STATE ST CORP | | STT | | 13.28 | % |
REGIONS FINL | | RF | | 13.01 | % |
COLONIAL BANCGRO | | CNB | | 12.67 | % |
MERCANTILE BANKS | | MRBK | | 12.51 | % |
SOVEREIGN BANCORP INC | | SOV | | 11.50 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 11.44 | % |
WEBSTER FINANCIAL CORP | | WBS | | 10.41 | % |
SOUTH FINANCIAL | | TSFG | | 9.52 | % |
FIRST CITIZENS-A | | FCNCA | | 8.87 | % |
JP MORGAN CHASE | | JPM | | 8.40 | % |
HUDSON CITY BANCORP | | HCBK | | 7.42 | % |
BANKNORTH GROUP | | BNK | | 5.31 | % |
| | | | | |
AVERAGE | | | | 15.80 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
Source: CapitalBridge
47.) Top 50 Banks¹ - Net Charge-Offs
Six Months Ended June 30, 2005
(Percent)
PNC FINANCIAL SE | | PNC | | (.11 | )% |
UNIONBANCAL CORP | | UB | | (.04 | )% |
CITY NATL CORP | | CYN | | (.03 | )% |
MERCANTILE BANKS | | MRBK | | .00 | % |
NORTHERN TRUST | | NTRS | | .00 | % |
WEBSTER FINANCIAL CORP | | WBS | | .01 | % |
FULTON FINANCIAL | | FULT | | .02 | % |
TCF FINL CORP | | TCB | | .03 | % |
VALLEY NATL BANC | | VLY | | .04 | % |
NORTH FORK BANCP | | NFB | | .07 | % |
ASSOC BANC-CORP | | ASBC | | .08 | % |
INTL BANCSHARES | | IBOC | | .08 | % |
WACHOVIA CORP | | WB | | .09 | % |
ZIONS BANCORP | | ZION | | .09 | % |
COMMERCE BANC NJ | | CBH | | .10 | % |
BANK NEW YORK | | BK | | .11 | % |
WILMINGTON TRUST | | WL | | .12 | % |
CULLEN/FROST | | CFR | | .12 | % |
MARSHALL &ILSLEY | | MI | | .13 | % |
BOK FINL CORP | | BOKF | | .13 | % |
SUNTRUST BANKS | | STI | | .14 | % |
BANKNORTH GROUP | | BNK | | .14 | % |
M&T BANK CORP | | MTB | | .17 | % |
COLONIAL BANCGRO | | CNB | | .18 | % |
FIRST CITIZENS-A | | FCNCA | | .18 | % |
FIRST HORIZON NA | | FHN | | .20 | % |
REGIONS FINL | | RF | | .20 | % |
AMSOUTH BANCORP | | ASO | | .22 | % |
BANCORPSOUTH INC | | BXS | | .24 | % |
BANK OF HAWAII | | BOH | | .24 | % |
COMMERCE BCSHS (KC) | | CBSH | | .26 | % |
BB&T CORPORATION | | BBT | | .26 | % |
SYNOVUS FINL | | SNV | | .30 | % |
NATL CITY CORP | | NCC | | .31 | % |
KEYCORP | | KEY | | .32 | % |
COMERICA INC | | CMA | | .32 | % |
HUNTINGTON BANC | | HBAN | | .37 | % |
FIFTH THIRD BANC | | FITB | | .37 | % |
SOUTH FINANCIAL | | TSFG | | .38 | % |
HIBERNIA CORP | | HIB | | .38 | % |
COMPASS BANCSHS | | CBSS | | .41 | % |
HUDSON UNITED BA | | HU | | .47 | % |
US BANCORP | | USB | | .49 | % |
POPULAR INC | | BPOP | | .56 | % |
BANK OF AMERICA | | BAC | | .67 | % |
FIRSTMERIT CORP | | FMER | | .68 | % |
SKY FINANCIAL GR | | SKYF | | .70 | % |
WELLS FARGO & CO | | WFC | | .71 | % |
JP MORGAN CHASE | | JPM | | .78 | % |
CITIGROUP INC | | C | | 1.33 | % |
| | | | | |
WEIGHTED AVERAGE | | | | .59 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
Source: CapitalBridge
48.) Top 50 Banks¹ - Loan Loss Coverage²
Six Months Ended June 30, 2005
(Multiple)
PNC FINANCIAL SE | | PNC | | 628.00X | |
NORTHERN TRUST | | NTRS | | 162.38X | |
WEBSTER FINANCIAL CORP | | WBS | | 97.99X | |
FULTON FINANCIAL | | FULT | | 60.27X | |
CITY NATL CORP | | CYN | | 43.82X | |
TCF FINL CORP | | TCB | | 26.11X | |
VALLEY NATL BANC | | VLY | | 23.92X | |
INTL BANCSHARES | | IBOC | | 19.85X | |
ASSOC BANC-CORP | | ASBC | | 16.56X | |
ZIONS BANCORP | | ZION | | 14.22X | |
WACHOVIA CORP | | WB | | 14.01X | |
COMMERCE BANC NJ | | CBH | | 14.01X | |
MERCANTILE BANKS | | MRBK | | 13.53X | |
BANK NEW YORK | | BK | | 13.38X | |
CULLEN/FROST | | CFR | | 11.75X | |
WILMINGTON TRUST | | WL | | 11.00X | |
BOK FINL CORP | | BOKF | | 9.96X | |
M&T BANK CORP | | MTB | | 9.80X | |
NORTH FORK BANCP | | NFB | | 9.70X | |
MARSHALL &ILSLEY | | MI | | 9.08X | |
BANKNORTH GROUP | | BNK | | 8.32X | |
FIRST CITIZENS-A | | FCNCA | | 7.52X | |
SUNTRUST BANKS | | STI | | 7.18X | |
BANK OF HAWAII | | BOH | | 6.83X | |
COLONIAL BANCGRO | | CNB | | 6.74X | |
REGIONS FINL | | RF | | 6.45X | |
COMMERCE BCSHS (KC) | | CBSH | | 5.97X | |
BANCORPSOUTH INC | | BXS | | 5.44X | |
KEYCORP | | KEY | | 5.39X | |
AMSOUTH BANCORP | | ASO | | 4.98X | |
FIRST HORIZON NA | | FHN | | 4.89X | |
SYNOVUS FINL | | SNV | | 4.58X | |
COMERICA INC | | CMA | | 4.54X | |
BB&T CORPORATION | | BBT | | 4.43X | |
HIBERNIA CORP | | HIB | | 3.77X | |
NATL CITY CORP | | NCC | | 3.52X | |
SOUTH FINANCIAL | | TSFG | | 3.30X | |
US BANCORP | | USB | | 3.29X | |
COMPASS BANCSHS | | CBSS | | 3.22X | |
FIFTH THIRD BANC | | FITB | | 3.06X | |
POPULAR INC | | BPOP | | 2.87X | |
HUNTINGTON BANC | | HBAN | | 2.86X | |
HUDSON UNITED BA | | HU | | 2.58X | |
BANK OF AMERICA | | BAC | | 2.35X | |
JP MORGAN CHASE | | JPM | | 2.14X | |
FIRSTMERIT CORP | | FMER | | 2.10X | |
SKY FINANCIAL GR | | SKYF | | 2.03X | |
WELLS FARGO & CO | | WFC | | 1.82X | |
CITIGROUP INC | | C | | 1.42X | |
UNIONBANCAL CORP | | UB | | N.M.X | |
| | | | | |
WEIGHTED AVERAGE | | | | 2.48X | |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
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
49.) Top 50 Banks¹ - Net Interest Margin
Quarter Ended June 30, 2005
(Percent)
WESTCORP | | WES | | 5.50 | % |
WELLS FARGO & CO | | WFC | | 4.83 | % |
REGIONS FINL | | RF | | 4.66 | % |
CITY NATL CORP | | CYN | | 4.60 | % |
TCF FINL CORP | | TCB | | 4.53 | % |
NORTH FORK BANCP | | NFB | | 4.48 | % |
ZIONS BANCORP | | ZION | | 4.44 | % |
MERCANTILE BANKS | | MRBK | | 4.29 | % |
US BANCORP | | USB | | 4.15 | % |
NATL CITY CORP | | NCC | | 4.13 | % |
COMMERCE BANC NJ | | CBH | | 4.10 | % |
SYNOVUS FINL | | SNV | | 4.10 | % |
UNIONBANCAL CORP | | UB | | 3.98 | % |
HIBERNIA CORP -A | | HIB | | 3.98 | % |
SKY FINANCIAL GR | | SKYF | | 3.97 | % |
BANKNORTH GROUP | | BNK | | 3.96 | % |
BB&T CORPORATION | | BBT | | 3.93 | % |
FULTON FINANCIAL | | FULT | | 3.89 | % |
ASSOC BANC-CORP | | ASBC | | 3.88 | % |
COMMERCE BCSHS | | CBSH | | 3.81 | % |
POPULAR INC | | BPOP | | 3.80 | % |
M&T BANK CORP | | MTB | | 3.79 | % |
VALLEY NATL BANC | | VLY | | 3.72 | % |
COMERICA INC | | CMA | | 3.70 | % |
COLONIAL BANCGRO | | CNB | | 3.70 | % |
KEYCORP | | KEY | | 3.69 | % |
SOUTH FINANCIAL | | TSFG | | 3.55 | % |
COMPASS BANCSHS | | CBSS | | 3.54 | % |
FIRST CITIZENS-A | | FCNCA | | 3.49 | % |
WACHOVIA CORP | | WB | | 3.48 | % |
AMSOUTH BANCORP | | ASO | | 3.44 | % |
FIRST HORIZON NA | | FHN | | 3.39 | % |
BOK FINL CORP | | BOKF | | 3.37 | % |
FIFTH THIRD BANC | | FITB | | 3.37 | % |
HUNTINGTON BANC | | HBAN | | 3.36 | % |
BANK OF AMERICA | | BAC | | 3.35 | % |
SOVEREIGN BANCORP INC | | SOV | | 3.34 | % |
MARSHALL &ILSLEY | | MI | | 3.32 | % |
CITIGROUP INC | | C | | 3.32 | % |
WEBSTER FINANCIAL CORP | | WBS | | 3.26 | % |
SUNTRUST BANKS | | STI | | 3.20 | % |
PNC FINANCIAL SE | | PNC | | 3.12 | % |
NEW YORK CMNTY BANCORP INC | | NYB | | 3.01 | % |
JP MORGAN CHASE | | JPM | | 2.68 | % |
HUDSON CITY BANCORP | | HCBK | | 2.31 | % |
BANK NEW YORK | | BK | | 2.25 | % |
MELLON FINANCIAL | | MEL | | 1.98 | % |
INVESTORS FINL | | IFIN | | 1.69 | % |
NORTHERN TRUST | | NTRS | | 1.67 | % |
STATE ST CORP | | STT | | 1.06 | % |
| | | | | |
AVERAGE | | | | 3.56 | % |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
Source: CapitalBridge
50.) Top 50 Banks¹- Price/Est. Forward EPS
Quarter Ended June 30, 2005
(Multiple)
HUDSON CITY BANCORP | | HCBK | | 19.39X | |
NORTHERN TRUST | | NTRS | | 17.52X | |
SYNOVUS FINL | | SNV | | 16.07X | |
STATE ST CORP | | STT | | 15.89X | |
COMMERCE BCSHS | | CBSH | | 15.83X | |
COMMERCE BANC NJ | | CBH | | 15.71X | |
HIBERNIA CORP -A | | HIB | | 15.30X | |
MERCANTILE BANKS | | MRBK | | 15.29X | |
INVESTORS FINL | | IFIN | | 15.16X | |
FULTON FINANCIAL | | FULT | | 15.05X | |
M&T BANK CORP | | MTB | | 14.84X | |
BOK FINL CORP | | BOKF | | 14.80X | |
VALLEY NATL BANC | | VLY | | 14.72X | |
MELLON FINANCIAL | | MEL | | 14.64X | |
CITY NATL CORP | | CYN | | 14.36X | |
SKY FINANCIAL GR | | SKYF | | 14.24X | |
MARSHALL &ILSLEY | | MI | | 13.87X | |
COLONIAL BANCGRO | | CNB | | 13.85X | |
BANK NEW YORK | | BK | | 13.62X | |
COMPASS BANCSHS | | CBSS | | 13.62X | |
SOUTH FINANCIAL | | TSFG | | 13.53X | |
HUNTINGTON BANC | | HBAN | | 13.20X | |
UNIONBANCAL CORP | | UB | | 13.14X | |
FIFTH THIRD BANC | | FITB | | 13.02X | |
ZIONS BANCORP | | ZION | | 12.97X | |
BANKNORTH GROUP | | BNK | | 12.84X | |
AMSOUTH BANCORP | | ASO | | 12.80X | |
TCF FINL CORP | | TCB | | 12.78X | |
BB&T CORPORATION | | BBT | | 12.75X | |
REGIONS FINL | | RF | | 12.74X | |
ASSOC BANC-CORP | | ASBC | | 12.71X | |
NEW YORK CMNTY BANCORP INC | | NYB | | 12.49X | |
POPULAR INC | | BPOP | | 12.46X | |
WEBSTER FINANCIAL CORP | | WBS | | 12.42X | |
KEYCORP | | KEY | | 12.27X | |
COMERICA INC | | CMA | | 12.20X | |
WELLS FARGO & CO | | WFC | | 12.19X | |
SUNTRUST BANKS | | STI | | 12.10X | |
SOVEREIGN BANCORP INC | | SOV | | 11.88X | |
PNC FINANCIAL SE | | PNC | | 11.59X | |
US BANCORP | | USB | | 11.43X | |
NATL CITY CORP | | NCC | | 11.29X | |
NORTH FORK BANCP | | NFB | | 11.18X | |
FIRST HORIZON NA | | FHN | | 10.85X | |
WACHOVIA CORP | | WB | | 10.65X | |
WESTCORP | | WES | | 10.63X | |
JP MORGAN CHASE | | JPM | | 10.40X | |
BANK OF AMERICA | | BAC | | 9.82X | |
CITIGROUP INC | | C | | 9.82X | |
FIRST CITIZENS-A | | FCNCA | | N/A | |
| | | | | |
AVERAGE | | | | 13.30X | |
¹ Represents the fifty largest bank holding companies in the U.S. based on asset size at 6/30/05
Source: CapitalBridge
51.) Return to Shareholders¹ +19%*
Period Ending | | TCF Financial
Corporation | | Russell 2000 | | SNL All Bank
& Thrift Index | |
6/86 | | $ | 100.00 | | $ | 100.00 | | $ | 100.00 | |
9/86 | | $ | 102.08 | | $ | 88.55 | | $ | 100.55 | |
9/87 | | $ | 91.75 | | $ | 114.54 | | $ | 112.98 | |
9/88 | | $ | 88.49 | | $ | 102.23 | | $ | 109.84 | |
9/89 | | $ | 133.50 | | $ | 124.23 | | $ | 145.55 | |
9/90 | | $ | 58.30 | | $ | 90.52 | | $ | 88.65 | |
9/91 | | $ | 172.47 | | $ | 131.36 | | $ | 156.61 | |
9/92 | | $ | 237.81 | | $ | 143.08 | | $ | 199.80 | |
9/93 | | $ | 386.07 | | $ | 190.58 | | $ | 252.26 | |
9/94 | | $ | 393.29 | | $ | 195.56 | | $ | 198.53 | |
9/95 | | $ | 597.23 | | $ | 241.33 | | $ | 261.91 | |
9/96 | | $ | 787.54 | | $ | 273.02 | | $ | 340.60 | |
9/97 | | $ | 1,247.18 | | $ | 363.63 | | $ | 541.21 | |
9/98 | | $ | 864.80 | | $ | 294.48 | | $ | 520.90 | |
9/99 | | $ | 1,277.27 | | $ | 350.64 | | $ | 616.46 | |
9/00 | | $ | 1,735.11 | | $ | 432.66 | | $ | 743.22 | |
9/01 | | $ | 2,173.68 | | $ | 340.90 | | $ | 715.30 | |
9/02 | | $ | 2,044.89 | | $ | 309.19 | | $ | 677.44 | |
9/03 | | $ | 2,385.84 | | $ | 422.04 | | $ | 876.90 | |
9/04 | | $ | 3,096.80 | | $ | 501.28 | | $ | 1,002.38 | |
9/05 | | $ | 2,816.12 | | $ | 591.26 | | $ | 1,023.14 | |
¹ Assumes $100 invested June 18, 1986 with dividends reinvested
* Annualized return since June 18, 1986
Source: SNL Securities LC
52.) 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; 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, 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.
53.) NYSE: TCB
The Leader In Convenience Banking
Stock Price Performance
(In Dollars)
Year-Ending | | Stock Price | | Dividend Paid | | |
Jun-86 | | | $ | 1.50 | | N/A | | |
Dec-86 | | | $ | 1.52 | | N/A | | |
Dec-87 | | | $ | .86 | | N/A | | |
Dec-88 | | | $ | 1.11 | | $ | .03 | | |
Dec-89 | | | $ | 1.69 | | $ | .05 | | |
Dec-90 | | | $ | .96 | | $ | .05 | | |
Dec-91 | | | $ | 2.42 | | $ | .05 | | |
Dec-92 | | | $ | 3.63 | | $ | .06 | | |
Dec-93 | | | $ | 4.25 | | $ | .09 | | |
Dec-94 | | | $ | 5.16 | | $ | .13 | | |
Dec-95 | | | $ | 8.28 | | $ | .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 | | |
Sep-05 | | | $ | 26.75 | | $ | .85 | * | |
* Annualized
54.) Appendix
55.) Risk-Based Capital
| | 12/01 | | 12/02 | | 12/03 | | 12/04 | | 9/05 | |
| | ($ millions) | |
| | | | | | | | | | | |
Actual | | $ | 834 | | $ | 851 | | $ | 842 | | $ | 959 | | $ | 1,009 | |
Minimum Requirement | | $ | 593 | | $ | 622 | | $ | 628 | | $ | 705 | | $ | 757 | |
Well Capitalized Requirement | | $ | 741 | | $ | 777 | | $ | 785 | | $ | 881 | | $ | 946 | |
| | | | | | | | | | | |
Tier 1: | | 10.24% | | 9.96% | | 9.75% | | 9.12% | | 8.72% | |
Total: | | 11.26% | | 10.95% | | 10.73% | | 10.88% | | 10.66% | |
Excess¹: | | $ | 93.2 | | $ | 73.6 | | $ | 57.4 | | $ | 77.4 | | $ | 62.6 | |
¹ Excess over “well-capitalized” requirement
56.) Leasing and Equipment Finance
Power Assets®
($ 000s)
| | 9/30/2005 | | 12/31/2004 | | Change | |
Manufacturing | | $ | 261,379 | | $ | 251,157 | | $ | 10,222 | |
Specialty vehicles | | 241,915 | | 236,582 | | 5,333 | |
Technology and data processing | | 219,969 | | 229,160 | | (9,191 | ) |
Construction | | 216,248 | | 182,612 | | 33,636 | |
Medical | | 185,807 | | 157,745 | | 28,062 | |
Trucks and trailers | | 61,225 | | 74,870 | | (13,645 | ) |
Furniture and fixtures | | 55,706 | | 51,192 | | 4,514 | |
Printing | | 53,447 | | 45,394 | | 8,053 | |
Material handling | | 36,066 | | 33,810 | | 2,256 | |
Other | | 92,555 | | 112,850 | | (20,295 | ) |
Total | | $ | 1,424,317 | | $ | 1,375,372 | | $ | 48,945 | |
57.) Leasing and Equipment Finance
Summary of Operations
($ 000s)
For the Nine Months Ended September 30: | | 2005 | | 2004 | | Change | |
Net interest income | | $ | 42,877 | | $ | 41,055 | | $ | 1,822 | |
Provision for credit losses | | 2,958 | | 4,807 | | (1,849) | |
Non-interest income | | 32,059 | | 29,649 | | 2,410 | |
Non-interest expense | | 35,129 | | 30,739 | | 4,390 | |
Pre-tax income | | 36,849 | | 35,158 | | 1,691 | |
Income tax expense | | 13,049 | | 12,344 | | 705 | |
Net Income | | $ | 23,800 | | $ | 22,814 | | $ | 986 | |
| | | | | | | |
ROA | | 2.14% | | 2.29% | | | |
58.) Net Charge-offs by Business Line
| | | | | | | | | | YTD¹ | |
| | 2001 | | 2002 | | 2003 | | 2004 | | 2005 | |
| | | | | | | | | | | |
Consumer | | .13 | % | .15 | % | .10 | % | .08 | % | .09 | % |
Commercial real estate | | — | | .12 | | .07 | | .02 | | — | |
Commercial business | | .06 | | 1.35 | | .18 | | .04 | | (.73 | ) |
Leasing and equipment finance² | | 1.00 | | .80 | | .69 | | .43 | | 2.01 | |
Residential real estate | | — | | — | | .01 | | .01 | | .01 | |
Total | | .15 | | .25 | | .16 | | .11 | | .31 | |
| | | | | | | | | | | | |
¹ Annualized
² Excluding Delta leveraged lease .23% (annualized) for 2005
59.) Reconciliation of GAAP to Non-GAAP Measures¹
| | For the Nine Months Ended | |
| | September 30, 2005 | |
| | | | | |
Computation of Return on Equity (ROE): | | | | | |
Net income, as reported | | | $ | 199,592 | | |
| | | | | |
Average stockholders’ equity, as reported | | | $ | 939,586 | | |
| | | | | |
Return on equity | | | 28.32 % | | |
| | | | | |
Computation of Return on Tangible Equity (ROTE): | | | | | |
Net income | | | $ | 199,592 | | |
Amortization of deposit based intangibles, net of any related tax effect | | | 796 | | |
| | | | | |
Net income, adjusted | | | $ | 200,388 | | |
| | | | | |
Average stockholders’ equity | | | $ | 939,586 | | |
Average goodwill | | | 152,599 | | |
Average deposit base intangible | | | 3,617 | | |
| | | | | |
Average tangible equity | | | $ | 783,370 | | |
| | | | | |
Return on tangible equity (ROTE) | | | 34.11% | | |
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 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.
