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 First Quarter Earnings and EPS ($.45)

FIRST QUARTER HIGHLIGHTS

•Diluted earnings per share of 45 cents

•Net income of $58.2 million

•Return on average assets of 1.71 percent

•Return on average common equity of 23.82 percent

•Average Power Assets^Ò increased $1.1 billion, or 13.1 percent

•Average Power Liabilities^Ò increased $1.1 billion, or 13.1 percent

•Increased checking accounts by 25,922, or 6.5 percent (annualized), to 1,629,095

EARNINGS SUMMARY

($ in thousands, except per-share data)

	Three Months
	Ended March 31,
	2006			2005			Change
Net income	$	58,222		$	63,465		(8.3)	%
Diluted earnings per common share	.45			.47			(4.3)
Financial Ratios (1)
Return on average assets	1.71		%	2.03		%
Return on average common equity	23.82			27.18
Net interest margin	4.25			4.56
Net charge-offs (recoveries) as a percentage of average loans and leases	.10			(.02)

(1) Annualized.

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WAYZATA, MN, April 19, 2006 — TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported diluted earnings per share of 45 cents for the first quarter of 2006, compared with 47 cents for the same 2005 period.  Net income for the first quarter of 2006 was $58.2 million, compared with $63.5 million for the same 2005 period.  The 2005 first quarter included $10.9 million in gains on asset sales and a $3.3 million commercial business loan recovery for a combined after-tax impact of seven cents per diluted share.  The first quarter of 2006 includes $4.5 million in net gains on sales of assets, including a $1.6 million net gain on the sale of mortgage servicing rights for a combined after-tax impact of two cents per diluted share.

For the first quarter of 2006, return on average assets (“ROA”) was 1.71 percent and return on average common equity (“ROE”) was 23.82 percent, compared with 2.03 percent and 27.18 percent, respectively, for the first quarter of 2005.

Chief Executive Officer’s Statement

“We achieved strong growth in the first quarter in Power Assets and Power Liabilities and we also saw improvement in net checking account growth,” said Lynn A. Nagorske, Chief Executive Officer.  “Although our business fundamentals continued to show strong performance, the 2006 first quarter included lower gains on asset sales and the 2005 first quarter included a commercial business loan recovery which did not recur,” said Nagorske.

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Total Revenue

	Three Months
($ in thousands)	Ended March 31,					Change
	2006			2005		$		%
Net interest income	$		131,168	$	129,053	$	2,115	1.6	%
Fees and other revenue:
Fees and service charges	61,555			57,938		3,617		6.2
Card revenue	21,262			17,642		3,620		20.5
ATM revenue	9,099			9,732		(633)		(6.5)
Investments and insurance	2,488			2,853		(365)		(12.8)
Total banking fees and other revenue	94,404			88,165		6,239		7.1
Leasing and equipment finance	11,915			10,693		1,222		11.4
Other	11,180			7,957		3,223		40.5
Total fees and other revenue	117,499			106,815		10,684		10.0
Gains on sales of securities	-			5,239		(5,239)		(100.0)
Total non-interest income	117,499			112,054		5,445		4.9
Total revenue	$	248,667		$	241,107	$	7,560	3.1
Net interest margin (1)	4.25%			4.56%
Fees and other revenue as a % of:
Total revenue	47.25			44.30
Average assets (1)	3.45			3.42

(1) Annualized.

Net Interest Income

TCF’s net interest income in the first quarter of 2006 was $131.2 million, up $2.1 million, or 1.6 percent, from the first quarter of 2005 and up $1.9 million, or 1.5 percent, from the fourth quarter of 2005.  Net interest margin in the first quarter of 2006 was 4.25 percent, compared with 4.56 percent for the first quarter of 2005 and 4.31 percent for the fourth quarter of 2005.  The increase in net interest income from the first quarter of 2005 was primarily driven by increases in average Power Assets and Power Liabilities, partially offset by higher funding costs and the effects of a flattening yield curve.

The increase in net interest income from the fourth quarter of 2005 was primarily due to a $513 million, or 4.3 percent, increase in average interest-earning assets and the net benefit of the increases in short-term interest rates, partially offset by two fewer days in the first quarter of 2006 and the six basis point reduction in net interest margin.  This decrease in net interest margin was primarily due to the continued customer preference for lower-yielding fixed-rate consumer loans, the impact of the stock repurchase program and the impact of the mortgage-backed securities purchased in the fourth quarter of 2005 and the

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first quarter of 2006, partially offset by the net favorable impact of the repricing of variable-rate assets and liabilities.

Non-interest Income

Total non-interest income was $117.5 million for the first quarter of 2006, up $5.4 million, or 4.9 percent, from the same period of 2005.

Banking fees and service charges increased 6.2 percent from the first quarter of 2005.  Card revenues totaled $21.3 million for the first quarter of 2006, up 20.5 percent over the same period in 2005.  The increase in card revenues was primarily attributable to an increase in active accounts and customer transaction volumes.

Leasing and equipment finance revenues were $11.9 million for the first quarter of 2006, up $1.2 million, or 11.4 percent, from the 2005 first quarter, primarily due to higher operating lease revenues.

Other revenue increased $3.2 million to $11.2 million from the first quarter of 2005.  During the first quarter of 2006, TCF sold its entire remaining third-party mortgage servicing rights for a gain of $2.3 million ($1.6 million net of related expenses).  The increase in other revenue also includes a $2.3 million increase in gains on the sales of education loans, partially offset by a $2.8 million decrease in gains on sales of branch and office buildings.

During the 2005 first quarter, TCF sold $466 million of mortgage-backed securities and realized gains of $5.2 million.  No such sales or gains occurred in the first quarter of 2006.

New Branch Expansion

TCF opened one new supermarket branch during the first quarter of 2006 and closed two traditional branches.  TCF has now opened 130 new branches since January 2001, representing 29 percent of TCF’s 452 total branches.  TCF plans to open a total of 25 new branches in 2006, consisting of 16 traditional branches, seven supermarket branches and two campus branches.

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	March 31,	December 31,	December 31,
(# of branches)	2006	2005	2000
Total Branches
Minnesota	105	105	84
Illinois	202	202	167
Wisconsin	35	35	32
Michigan	62	63	56
Colorado	42	42	12
Indiana	6	6	1
	452	453	352
New Branches*
Traditional	68	68
Supermarket	59	58
Campus	3	3
Total	130	129
% of Total Branches	29%	28%

* New branches opened since January 1, 2001.

Additional information regarding the results of TCF’s new branches opened since January 1, 2001 is summarized as follows:

	At or For the Three Months Ended
	March 31,
($ in thousands)	2006		2005		Change		% Change
Number of checking accounts	232,864		171,694		61,170		35.6	%
Average deposits:
Checking	$	337,414	$	261,110	$	76,304	29.2
Savings	285,871		151,824		134,047		88.3
Money market	31,221		15,504		15,717		101.4
Subtotal	654,506		428,438		226,068		52.8
Certificates of deposit	339,172		107,625		231,547		N.M.
Total deposits	$	993,678	$	536,063	$	457,615	85.4
Total fees and other revenue
(quarter ended)	$	15,378	$	10,902	$	4,476	41.1

N.M. Not Meaningful.

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Power Assets^®

Average Power Assets increased $1.1 billion, or 13.1 percent, in the first quarter of 2006.  TCF’s leasing businesses reported $250.6 million of originations and continued to grow the backlog of pending transactions, now at $294.1 million.

	Average Balances for the
	Three Months Ended March 31,				Change
($ in thousands)	2006		2005		$		%
Loans and leases*:
Consumer home equity and other:
Home equity:
First mortgage lien	$	3,409,051	$	2,951,677	$	457,374	15.5	%
Junior lien	1,806,666		1,505,216		301,450		20.0
Total consumer home equity	5,215,717		4,456,893		758,824		17.0
Other	34,833		36,046		(1,213)		(3.4)
Total consumer home equity and other	5,250,550		4,492,939		757,611		16.9
Commercial real estate	2,329,579		2,168,336		161,243		7.4
Commercial business	449,364		407,523		41,841		10.3
Leasing and equipment finance	1,533,034		1,389,541		143,493		10.3
Power Assets	$	9,562,527	$	8,458,339	$	1,104,188	13.1

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

Power Liabilities^®

Average Power Liabilities totaled $9.2 billion for the first quarter of 2006, with an average interest rate of 1.76 percent, as compared with .80 percent in the same 2005 period.  Average Power Liabilities increased $1.1 billion, or 13.1 percent, from the first quarter of 2005, primarily driven by increases in Premier Checking, Premier Savings and certificates of deposit, partially offset by declines in other lower-cost interest-bearing checking and savings.  The total number of checking accounts was 1,629,095 at March 31, 2006, up 70,188 accounts, or 4.5 percent, from March 31, 2005 and up 25,922 accounts, or 6.5 percent (annualized) from December 31, 2005.

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	Average Balances for the
	Three Months Ended March 31,
($ in thousands)	2006		2005		Change		% Change
Non-interest bearing deposits:
Retail	$	1,554,008	$	1,571,741	$	(17,733)	(1.1)	%
Small business	590,240		547,060		43,180		7.9
Commercial and custodial	282,408		313,634		(31,226)		(10.0)
Total non-interest bearing deposits	2,426,656		2,432,435		(5,779)		(0.2)
Interest-bearing deposits:
Premier checking	938,055		459,385		478,670		104.2
Other checking	909,960		1,089,541		(179,581)		(16.5)
Subtotal	1,848,015		1,548,926		299,089		19.3
Premier savings	780,046		281,529		498,517		177.1
Other savings	1,440,818		1,606,560		(165,742)		(10.3)
Subtotal	2,220,864		1,888,089		332,775		17.6
Money market	669,602		647,197		22,405		3.5
Subtotal	4,738,481		4,084,212		654,269		16.0
Certificates of deposit	2,005,639		1,592,682		412,957		25.9
Total interest-bearing deposits	6,744,120		5,676,894		1,067,226		18.8
Power Liabilities	$	9,170,776	$	8,109,329	$	1,061,447	13.1
Number of checking accounts, period-end	1,629,095		1,558,907		70,188		4.5

Securities Available for Sale and Residential Real Estate Loans

Average balances of securities available for sale (consisting primarily of mortgage-backed securities) and residential real estate loans totaled $2.5 billion for the first quarter of 2006, a decrease of $114.8 million from the first quarter of 2005.  TCF purchased $245.5 million of mortgage-backed securities in the first quarter of 2006, compared with $703.6 million in the first quarter of 2005.  At March 31, 2006, the unrealized pre-tax loss on TCF’s securities available for sale portfolio was $58.9 million.

	Average Balances for the
	Three Months Ended March 31,				Change
($ in thousands)	2006		2005		$		%
Securities available for sale	$	1,781,586	$	1,663,412	$	118,174	7.1	%
Residential real estate loans	751,782		984,764		(232,982)		(23.7)
Total	$	2,533,368	$	2,648,176	$	(114,808)	(4.3)

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Non-interest Expense

Non-interest expense totaled $159.9 million for the first quarter of 2006, up $11.9 million, or 8 percent, from $148 million for the first quarter of 2005, primarily due to a $5 million increase related to branch expansion, a $1.7 million increase in operating lease depreciation and $700 thousand in expenses related to the sale of mortgage servicing rights.

Compensation and employee benefits increased $4.7 million, or 5.8 percent, from the first quarter of 2005, primarily driven by a $3.2 million increase in the banking segment of which $2.2 million was attributed to branch expansion.

Occupancy and equipment expenses increased $2.7 million, or 10.5 percent, from the first quarter of 2005, primarily due to $1.4 million associated with branch expansion.

Operating lease depreciation increased $1.7 million from the first quarter of 2005, primarily driven by a $41.4 million increase in average operating lease balances in TCF’s leasing and equipment finance subsidiaries.

Other expenses increased $2.9 million, or 9.8 percent, from the first quarter of 2005, primarily driven by a $976 thousand increase related to branch expansion, an $803 thousand increase in card processing and issuance expenses related to the increase in card transactions and $700 thousand in one-time expenses related to the sale of TCF’s mortgage servicing portfolio. 

	Three Months Ended
	March 31,				Change
($ in thousands)	2006		2005		$		%
Compensation and employee benefits	$	86,168	$	81,451	$	4,717	5.8	%
Occupancy and equipment	28,051		25,379		2,672		10.5
Advertising and promotions	5,716		6,247		(531)		(8.5)
Deposit account losses	4,013		3,567		446		12.5
Operating lease depreciation	3,163		1,492		1,671		112.0
Other	32,813		29,881		2,932		9.8
Total non-interest expense	$	159,924	$	148,017	$	11,907	8.0

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Credit Quality

At March 31, 2006, TCF’s allowance for loan and lease losses totaled $59.4 million, or .56 percent of loans and leases, compared with $60.4 million, or .59 percent, at December 31, 2005.  The provision for credit losses for 2006 was $1.5 million, up $4.9­ million from the first quarter of 2005, primarily due to a $3.3 million commercial business loan recovery recorded in the first quarter of 2005.  Net loan and lease charge-offs in the first quarter of 2006 were $2.5 million, or .10 percent (annualized) of average loans and leases, compared with net loan and lease recoveries of $441 thousand, or .02 percent (annualized) for the same 2005 period.

At March 31, 2006, TCF’s over-30-day delinquency rate was .35 percent, down from .43 percent at December 31, 2005.  Non-accrual loans and leases were $30.8 million, or .29 percent of net loans and leases, at March 31, 2006, compared with $29.6 million, or .29 percent, at December 31, 2005.  Total non-performing assets were $51.5 million, or .37 percent of total assets, at March 31, 2006, up from $47.4 million, or .35 percent, at December 31, 2005.  The increase in non-accrual loans and leases from December 31, 2005 was primarily due to commercial real estate loans, partially offset by a decrease in consumer home equity loans.

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	Three Months Ended
	March 31,
($ in thousands)	2006			2005
Allowance for loan and lease losses:
Balance at beginning of period	$	60,396		$	79,878
Net (charge-offs) recoveries:
Consumer home equity and other	(1,439)			(1,308)
Commercial real estate	(69)			(37)
Commercial business	(154)			2,436
Leasing and equipment finance	(831)			(614)
Residential real estate	(32)			(36)
Total	(2,525)			441
Provision for credit losses	1,507			(3,436)
Balance at end of period	$	59,378		$	76,883
Key Indicators:
Allowance for loans and leases as a percentage of total loans and leases	.56		%	.80		%
Annualized net charge-offs (recoveries) as a percentage of average loans and leases	.10		%	(.02)		%
Period-end allowance as a multiple of annualized net charge-offs	5.9		X	N.M.
Income before income taxes and provision for loan losses as a multiple of net charge-offs	35.2		X	N.M.

N.M. Not Meaningful.

Income Taxes

TCF’s income tax expense was $29 million for the first quarter of 2006, or 33.26 percent of income before income tax expense, down from $33.1 million, or 34.25 percent, for the comparable 2005 period.  The lower effective income tax rate in the first quarter of 2006 compared with the first quarter of 2005 is primarily due to lower estimated state and local income taxes.

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Capital

During the first quarter of 2006, TCF Bank issued $75 million of subordinated notes due in 2016.  The notes bear interest at a fixed rate of 5.50 percent until maturity.  The notes qualify as Tier 2 or supplementary capital for regulatory purposes, subject to certain limitations.  Also, during the first quarter of 2006, TCF repurchased 2.4 million shares of its common stock at an average cost of $25.27 per share.  TCF has 4.3 million shares remaining in its stock repurchase program authorized by its Board of Directors.

	At March 31,					At March 31,
($ in thousands, except per-share data)	2006					2005
Stockholders’ equity	$	968,300				$	926,343
Stockholders’ equity to total assets	7.00		%			7.28		%
Book value per common share	$	7.35				$	6.85
Total risk-based capital	$	1,110,762		10.91	%	$	987,455		10.90	%
Total risk-based capital “well-capitalized” requirement	1,017,778			10.00		905,771			10.00
Excess risk-based capital over “well-capitalized” requirement	92,984			.91		81,684			.90

Website Information

A live webcast of TCF’s conference call to discuss first quarter earnings will be hosted at TCF’s website, www.tcfexpress.com, on April 19, 2006 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 $13.8 billion in assets.  TCF has 452 banking offices in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana.  Other TCF affiliates provide leasing and equipment finance, securities brokerage, and investments and insurance sales.

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Forward-looking Information

This earnings release and other reports issued by the Company, including reports filed with the SEC, may contain “forward-looking” statements that deal with future results, plans or performance.  In addition, TCF’s management may make such statements orally to the media, or to securities analysts, investors or others.  Forward-looking statements deal with matters that do not relate strictly to historical facts.  TCF’s future results may differ materially from historical performance and forward-looking statements about TCF’s expected financial results or other plans and 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; an inability 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; monetary, fiscal or tax policies of the federal or state governments; adverse findings in tax audits or regulatory examinations; 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 by TCF; technological, computer-related or operational difficulties or loss or theft of information; adverse changes in securities markets; 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 on Form 10-K, and Forms 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
	March 31,
	2006		2005				$ Change			% Change
Interest income:
Loans and leases	$	176,983	$		146,544		$	30,439		20.8	%
Securities available for sale	23,699		21,495				2,204			10.3
Education loans held for sale	4,347		2,254				2,093			92.9
Investments	677		1,052				(375		)	(35.6	)
Total interest income	205,706		171,345				34,361			20.1
Interest expense:
Deposits	39,847		15,938				23,909			150.0
Borrowings	34,691		26,354				8,337			31.6
Total interest expense	74,538		42,292				32,246			76.2
Net interest income	131,168		129,053				2,115			1.6
Provision for credit losses	1,507		(3,436			)	4,943			N.M.
Net interest income after provision for credit losses	129,661		132,489				(2,828		)	(2.1	)
Non-interest income:
Fees and service charges	61,555		57,938				3,617			6.2
Card revenue	21,262		17,642				3,620			20.5
ATM revenue	9,099		9,732				(633		)	(6.5	)
Investments and insurance revenue	2,488		2,853				(365		)	(12.8	)
Subtotal	94,404		88,165				6,239			7.1
Leasing and equipment finance	11,915		10,693				1,222			11.4
Other	11,180		7,957				3,223			40.5
Fees and other revenue	117,499		106,815				10,684			10.0
Gains on sales of securities available for sale	—		5,239				(5,239		)	(100.0	)
Total non-interest income	117,499		112,054				5,445			4.9
Non-interest expense:
Compensation and employee benefits	86,168		81,451				4,717			5.8
Occupancy and equipment	28,051		25,379				2,672			10.5
Advertising and promotions	5,716		6,247				(531		)	(8.5	)
Deposit account losses	4,013		3,567				446			12.5
Other	35,976		31,373				4,603			14.7
Total non-interest expense	159,924		148,017				11,907			8.0
Income before income tax expense	87,236		96,526				(9,290		)	(9.6	)
Income tax expense	29,014		33,061				(4,047		)	(12.2	)
Net income	$	58,222	$	63,465			$	(5,243	)	(8.3	)
Net income per common share:
Basic	$	.45	$	.47			$	(.02	)	(4.3	)
Diluted	$	.45	$	.47			$	(.02	)	(4.3	)
Dividends declared per common share	$	.23	$	.2125			$	.0175		8.2
Average common and common equivalent shares outstanding (in thousands):
Basic	130,282		133,990				(3,708		)	(2.8	)
Diluted	130,447		134,392				(3,945		)	(2.9	)

N.M. Not Meaningful.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands, except per-share data)

(Unaudited)

	At					At					At				% Change from
	March 31,					December 31,					March 31,				December 31,		March 31,
	2006					2005					2005				2005		2005
ASSETS
Cash and due from banks	$			330,891		$	374,701				$		323,996		(11.7	)%	2.1	%
Investments	72,082					79,943					105,404				(9.8	)	(31.6	)
Securities available for sale	1,816,135					1,648,615					1,785,520				10.2		1.7
Education loans held for sale	234,324					229,820					215,991				2.0		8.5
Loans and leases:
Consumer home equity and other	5,369,300					5,187,584					4,601,418				3.5		16.7
Commercial real estate	2,394,722					2,297,500					2,193,513				4.2		9.2
Commercial business	470,117					435,233					409,219				8.0		14.9
Leasing and equipment finance	1,575,483					1,503,794					1,397,959				4.8		12.7
Subtotal	9,809,622					9,424,111					8,602,109				4.1		14.0
Residential real estate	732,912					770,441					950,469				(4.9	)	(22.9	)
Total loans and leases	10,542,534					10,194,552					9,552,578				3.4		10.4
Allowance for loan and lease losses	(59,378				)	(60,396				)	(76,883			)	1.7		22.8
Net loans and leases	10,483,156					10,134,156					9,475,695				3.4		10.6
Premises and equipment	375,679					365,146					328,081				2.9		14.5
Goodwill	152,599					152,599					152,599				—		—
Other assets	367,457					380,380					345,922				(3.4	)	6.2
	$			13,832,323		$	13,365,360				$		12,733,208		3.5		8.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Checking	$	4,448,688				$		4,279,853			$	4,020,601			3.9		10.6
Savings	2,360,246					2,238,204					2,063,415				5.5		14.4
Money market	637,212					677,017					625,511				(5.9	)	1.9
Subtotal	7,446,146					7,195,074					6,709,527				3.5		11.0
Certificates of deposit	2,128,723					1,915,620					1,685,486				11.1		26.3
Total deposits	9,574,869					9,110,694					8,395,013				5.1		14.1
Short-term borrowings	346,528					472,126					878,390				(26.6	)	(60.5	)
Long-term borrowings	2,688,131					2,511,010					2,098,878				7.1		28.1
Total borrowings	3,034,659					2,983,136					2,977,268				1.7		1.9
Accrued expenses and other liabilities	254,495					273,058					434,584				(6.8	)	(41.4	)
Total liabilities	12,864,023					12,366,888					11,806,865				4.0		9.0
Stockholders’ equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 184,220,375; 184,386,193 and 184,477,297 shares issued	1,842					1,844					1,845				(.1	)	(.2	)
Additional paid-in capital	468,968					497,270					497,736				(5.7	)	(5.8	)
Retained earnings, subject to certain restrictions	1,564,207					1,536,611					1,420,258				1.8		10.1
Accumulated other comprehensive loss	(38,121				)	(21,215				)	(14,756			)	(79.7	)	(158.3	)
Treasury stock at cost, 52,397,230; 50,609,970 and 49,208,234 shares, and other	(1,028,596				)	(1,016,038				)	(978,740			)	(1.2	)	(5.1	)
Total stockholders’ equity	968,300					998,472					926,343				(3.0	)	4.5
	$		13,832,323			$			13,365,360		$	12,733,208			3.5		8.6

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15

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance for loan and lease losses:

	At or For the Three Months Ended March 31, 2006								At or For the Year Ended December 31, 2005
			Allowance								Allowance		Net Charge-offs
			as a % of		Net Charge-offs (1)						as a % of		(Recoveries)
	Allowance		Portfolio		$		%		Allowance		Portfolio		$			%
Consumer home equity and other	$	16,828	.31	%	$	1,439	.11	%	$	16,643	.32	%	$	5,210		.11	%
Commercial real estate	22,146		.92		69		.01		21,222		.92		(8		)	—
Commercial business	6,587		1.40		154		.14		6,602		1.52		(2,173		)	(.51	)
Leasing and equipment finance	13,264		.84		831		.22		15,313		1.02		21,384			1.50
Residential real estate	553		.08		32		.02		616		.08		91			.01
Total	$	59,378	.56		$	2,525	.10		$	60,396	.59		$	24,504		.25

Non-performing assets:

	At			At			At			Change from
	March 31,			December 31,			March 31,			December 31,				March 31,
	2006			2005			2005			2005				2005
Non-accrual loans and leases:
Consumer home equity and other	$		12,631	$	18,410		$	10,772		$	(5,779		)	$	1,859
Commercial real estate	7,010			188			927			6,822				6,083
Commercial business	2,105			2,207			2,940			(102			)	(835			)
Leasing and equipment finance	7,798			6,434			27,706			1,364				(19,908			)
Residential real estate	1,221			2,409			2,586			(1,188			)	(1,365			)
Total non-accrual loans and leases	30,765			29,648			44,931			1,117				(14,166			)
Other real estate owned:
Residential real estate	17,779			14,877			12,890			2,902				4,889
Commercial real estate	2,957			2,834			5,568			123				(2,611			)
Total other real estate owned	20,736			17,711			18,458			3,025				2,278
Total non-performing assets	$	51,501		$		47,359	$		63,389	$		4,142		$		(11,888	)

Over 30-day delinquency data (2):

	At March 31,				At December 31,					At March 31,
	2006				2005					2005
	Principal		% of		Principal			% of		Principal		% of
	Balances		Portfolio		Balances			Portfolio		Balances		Portfolio
Consumer home equity and other	$	20,087	.37	%	$		18,556	.36	%	$	15,045	.33	%
Commercial real estate	3,011		.13		10,038			.44		349		.02
Commercial business	124		.03		819			.19		1,072		.26
Leasing and equipment finance	6,059		.39		6,182			.41		6,962		.51
Residential real estate	7,669		1.05		8,009			1.04		9,114		.96
Total	$	36,950	.35		$	43,604		.43		$	32,542	.34

Potential Problem Loans and Leases (3):

	At		At		At		Change from
	March 31,		December 31,		March 31,		December 31,			March 31,
	2006		2005		2005		2005			2005
Commercial real estate	$	48,360	$	35,341	$	37,114	$	13,019		$		11,246
Commercial business	10,026		11,793		18,307		(1,767		)	(8,281				)
Leasing and equipment finance	8,348		7,648		12,200		700			(3,852				)
	$	66,734	$	54,782	$	67,621	$	11,952			$		(887		)

(1)Annualized.

(2)Excludes non-accrual loans and leases.

(3)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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16

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Three Months Ended March 31,
	2006						2005
	Average				Yields and		Average				Yields and
	Balance		Interest		Rates (1)		Balance		Interest		Rates (1)
ASSETS
Investments	$	70,655	$	677	3.86	%	$	106,006	$	1,052	4.01	%
Securities available for sale	1,781,586		23,699		5.32		1,663,412		21,495		5.17
Education loans held for sale	281,185		4,347		6.27		207,430		2,254		4.41
Loans and leases:
Consumer home equity:
Fixed- and adjustable-rate	3,350,168		55,522		6.72		1,755,164		29,144		6.73
Variable-rate	1,865,549		37,724		8.20		2,701,729		42,725		6.41
Consumer - other	34,833		793		9.23		36,046		785		8.83
Total consumer home equity and other	5,250,550		94,039		7.26		4,492,939		72,654		6.56
Commercial real estate:
Fixed- and adjustable-rate	1,569,078		23,926		6.18		1,327,160		20,067		6.13
Variable-rate	760,501		13,468		7.18		841,176		10,869		5.24
Total commercial real estate	2,329,579		37,394		6.51		2,168,336		30,936		5.79
Commercial business:
Fixed- and adjustable-rate	115,745		1,749		6.13		74,968		1,044		5.65
Variable-rate	333,619		5,635		6.85		332,555		4,117		5.02
Total commercial business	449,364		7,384		6.66		407,523		5,161		5.14
Leasing and equipment finance	1,533,034		27,286		7.12		1,389,541		23,791		6.85
Subtotal	9,562,527		166,103		7.03		8,458,339		132,542		6.34
Residential real estate	751,782		10,880		5.80		984,764		14,002		5.70
Total loans and leases	10,314,309		176,983		6.94		9,443,103		146,544		6.27
Total interest-earning assets	12,447,735		205,706		6.68		11,419,951		171,345		6.06
Other assets	1,162,959						1,074,025
Total assets	$	13,610,694					$	12,493,976
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,554,008					$	1,571,741
Small business	590,240						547,060
Commercial and custodial	282,408						313,634
Total non-interest bearing deposits	2,426,656						2,432,435
Interest-bearing deposits:
Premier checking	938,055		7,031		3.04		459,385		2,105		1.86
Other checking	909,960		556		.25		1,089,541		363		.14
Subtotal	1,848,015		7,587		1.67		1,548,926		2,468		.65
Premier savings	780,046		7,299		3.79		281,529		1,651		2.38
Other savings	1,440,818		3,114		.88		1,606,560		1,645		.42
Subtotal	2,220,864		10,413		1.90		1,888,089		3,296		.71
Money market	669,602		3,546		2.15		647,197		1,071		.67
Subtotal	4,738,481		21,546		1.84		4,084,212		6,835		.68
Certificates of deposit	2,005,639		18,301		3.70		1,592,682		9,103		2.32
Total interest-bearing deposits	6,744,120		39,847		2.40		5,676,894		15,938		1.14
Total deposits	9,170,776		39,847		1.76		8,109,329		15,938		.80
Borrowings:
Short-term borrowings	674,868		7,503		4.51		974,853		6,080		2.53
Long-term borrowings	2,481,793		27,188		4.44		2,115,369		20,274		3.88
Total borrowings	3,156,661		34,691		4.45		3,090,222		26,354		3.46
Total deposits and borrowings	12,327,437		74,538		2.45		11,199,551		42,292		1.53
Other liabilities	305,672						360,362
Total liabilities	12,633,109						11,559,913
Stockholders’ equity	977,585						934,063
Total liabilities and stockholders’ equity	$	13,610,694					$	12,493,976
Net interest income and margin			$	131,168	4.25	%			$	129,053	4.56	%

(1)Annualized.

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17

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME AND FINANCIAL RATIOS

(Dollars in thousands, except per-share data)

(Unaudited)

	Three Months Ended
	Mar. 31,			Dec. 31,				Sept. 30,				Jun. 30,					Mar. 31,
	2006			2005				2005				2005					2005
Interest income:
Loans and leases	$	176,983		$	171,436			$	163,178			$	155,014				$	146,544
Securities available for sale	23,699			20,766				17,893				21,325					21,495
Education loans held for sale	4,347			3,342				2,759				2,566					2,254
Investments	677			841				463				1,094					1,052
Total interest income	205,706			196,385				184,293				179,999					171,345
Interest expense:
Deposits	39,847			34,283				26,539				20,646					15,938
Borrowings	34,691			32,820				29,684				28,068					26,354
Total interest expense	74,538			67,103				56,223				48,714					42,292
Net interest income	131,168			129,282				128,070				131,285					129,053
Provision for credit losses	1,507			3,637				3,394				1,427					(3,436			)
Net interest income after provision for credit losses	129,661			125,645				124,676				129,858					132,489
Non-interest income:
Fees and service charges	61,555			67,716				70,315				66,755					57,938
Card revenue	21,262			21,419				21,025				19,717					17,642
ATM revenue	9,099			9,557				10,646				10,795					9,732
Investments and insurance revenue	2,488			2,339				2,682				2,791					2,853
Subtotal	94,404			101,031				104,668				100,058					88,165
Leasing and equipment finance	11,915			15,405				10,197				11,092					10,693
Other	11,180			8,590				7,752				2,051					7,957
Fees and other revenue	117,499			125,026				122,617				113,201					106,815
Gains on sales of securities available for sale	—			—				995				4,437					5,239
Total non-interest income	117,499			125,026				123,612				117,638					112,054
Non-interest expense:
Compensation and employee benefits	86,168			82,700				80,402				81,973					81,451
Occupancy and equipment	28,051			27,819				25,931				24,771					25,379
Advertising and promotions	5,716			6,088				6,578				6,778					6,247
Deposit account losses	4,013			6,607				6,591				3,708					3,567
Other	35,976			35,264				34,411				32,950					31,373
Total non-interest expense	159,924			158,478				153,913				150,180					148,017
Income before income tax expense	87,236			92,193				94,375				97,316					96,526
Income tax expense	29,014			26,653				28,889				26,675					33,061
Net income	$	58,222		$		65,540		$		65,486		$		70,641			$		63,465
Net income per common share:
Basic	$	.45		$		.50		$		.50		$		.53			$		.47
Diluted	$	.45		$		.50		$		.50		$		.53			$		.47
Dividends declared per common share	$	.23		$		.2125		$	.2125			$			.2125		$		.2125
Financial Ratios:
Return on average assets (1)	1.71		%	2.01			%	2.07			%	2.22				%	2.03			%
Return on average common equity (1)	23.82			27.09				27.41				30.23					27.18
Net interest margin (1)	4.25			4.31				4.43				4.53					4.56
Net charge-offs (recoveries) as a percentage of average loans and leases (1)	.10			.09				.85				.08					(.02			)
Average total equity to average assets	7.18			7.40				7.56				7.36					7.48

(1)  Annualized.

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18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)

	Mar. 31,			Dec. 31,				Sept. 30,			Jun. 30,			Mar. 31,
	2006			2005				2005			2005			2005
ASSETS
Cash and due from banks	$	332,293		$		346,555		$	346,065		$	331,110		$	332,800
Investments	70,655			83,027				91,355			101,305			106,006
Securities available for sale	1,781,586			1,577,967				1,393,742			1,646,986			1,663,412
Education loans held for sale	281,185			230,623				206,850			213,279			207,430
Loans and leases:
Consumer home equity:
Fixed- and adjustable-rate	3,350,168			2,944,673				2,454,762			2,048,035			1,755,164
Variable-rate	1,865,549			2,120,363				2,392,934			2,594,538			2,701,729
Consumer - other	34,833			34,544				34,469			34,012			36,046
Total consumer home equity and other	5,250,550			5,099,580				4,882,165			4,676,585			4,492,939
Commercial real estate:
Fixed- and adjustable-rate	1,569,078			1,451,488				1,398,340			1,365,132			1,327,160
Variable-rate	760,501			809,855				822,223			834,876			841,176
Total commercial real estate	2,329,579			2,261,343				2,220,563			2,200,008			2,168,336
Commercial business:
Fixed- and adjustable-rate	115,745			106,974				85,611			73,654			74,968
Variable-rate	333,619			321,436				348,030			359,269			332,555
Total commercial business	449,364			428,410				433,641			432,923			407,523
Leasing and equipment finance	1,533,034			1,461,491				1,428,653			1,412,520			1,389,541
Subtotal	9,562,527			9,250,824				8,965,022			8,722,036			8,458,339
Residential real estate	751,782			792,245				849,069			919,379			984,764
Total loans and leases	10,314,309			10,043,069				9,814,091			9,641,415			9,443,103
Allowance for loan and lease losses	(59,488		)	(59,509			)	(76,207		)	(76,774		)	(79,918		)
Net loans and leases	10,254,821			9,983,560				9,737,884			9,564,641			9,363,185
Premises and equipment	372,746			358,505				345,641			333,614			328,336
Goodwill	152,599			152,599				152,599			152,599			152,599
Other assets	364,809			336,464				357,401			358,499			340,208
	$	13,610,694		$	13,069,300			$	12,631,537		$	12,702,033		$	12,493,976
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest-bearing deposits:
Retail	$	1,554,008		$	1,492,418			$	1,539,893		$	1,589,015		$	1,571,741
Small business	590,240			623,310				600,374			571,701			547,060
Commercial and custodial	282,408			295,910				325,025			311,463			313,634
Total non-interest bearing deposits	2,426,656			2,411,638				2,465,292			2,472,179			2,432,435
Interest-bearing deposits:
Premier checking	938,055			827,742				694,835			580,093			459,385
Other checking	909,960			936,517				1,004,507			1,075,421			1,089,541
Subtotal	1,848,015			1,764,259				1,699,342			1,655,514			1,548,926
Premier savings	780,046			640,444				436,690			345,567			281,529
Other savings	1,440,818			1,475,505				1,549,451			1,603,720			1,606,560
Subtotal	2,220,864			2,115,949				1,986,141			1,949,287			1,888,089
Money market	669,602			649,123				632,293			633,762			647,197
Subtotal	4,738,481			4,529,331				4,317,776			4,238,563			4,084,212
Certificates of deposit	2,005,639			1,886,787				1,770,805			1,707,919			1,592,682
Total interest-bearing deposits	6,744,120			6,416,118				6,088,581			5,946,482			5,676,894
Total deposits	9,170,776			8,827,756				8,553,873			8,418,661			8,109,329
Borrowings:
Short-term borrowings	674,868			739,372				1,037,240			920,471			974,853
Long-term borrowings	2,481,793			2,207,711				1,757,968			2,075,264			2,115,369
Total borrowings	3,156,661			2,947,083				2,795,208			2,995,735			3,090,222
Accrued expenses and other liabilities	305,672			326,693				326,976			352,861			360,362
Total liabilities	12,633,109			12,101,532				11,676,057			11,767,257			11,559,913
Stockholders’ equity:
Common stock	1,843			1,844				1,844			1,845			1,846
Additional paid-in capital	469,062			496,442				496,496			497,810			503,762
Retained earnings	1,541,523			1,510,336				1,473,273			1,431,903			1,394,163
Accumulated other comprehensive loss	(24,638		)	(24,157			)	(3,104		)	(1,992		)	(4,139		)
Treasury stock at cost and other	(1,010,205		)	(1,016,697			)	(1,013,029		)	(994,790		)	(961,569		)
	977,585			967,768				955,480			934,776			934,063
	$	13,610,694		$	13,069,300			$	12,631,537		$	12,702,033		$	12,493,976
Supplemental Information:
Securities available for sale	$	1,781,586		$	1,577,967			$	1,393,742		$	1,646,986		$	1,663,412
Residential real estate loans	751,782			792,245				849,069			919,379			984,764
Total securities available for sale and residential real estate loans	$	2,533,368		$	2,370,212			$	2,242,811		$	2,566,365		$	2,648,176

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19

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Mar. 31,		Dec. 31,		Sept. 30,		Jun. 30,		Mar. 31,
	2006		2005		2005		2005		2005
ASSETS
Investments	3.86	%	4.03	%	2.02	%	4.33	%	4.01	%
Securities available for sale	5.32		5.26		5.14		5.18		5.17
Education loans held for sale	6.27		5.75		5.29		4.83		4.41
Loans and leases:
Consumer home equity:
Fixed- and adjustable-rate	6.72		6.66		6.68		6.72		6.73
Variable-rate	8.20		7.68		7.22		6.77		6.41
Consumer - other	9.23		9.58		9.38		9.19		8.83
Total consumer home equity and other	7.26		7.11		6.96		6.77		6.56
Commercial real estate:
Fixed- and adjustable-rate	6.18		6.16		6.15		6.14		6.13
Variable-rate	7.18		6.75		6.27		5.72		5.24
Total commercial real estate	6.51		6.38		6.20		5.98		5.79
Commercial business:
Fixed- and adjustable-rate	6.13		5.90		5.88		5.75		5.65
Variable-rate	6.85		6.41		6.02		5.56		5.02
Total commercial business	6.66		6.29		5.99		5.59		5.14
Leasing and equipment finance	7.12		7.00		6.74		6.83		6.85
Subtotal	7.03		6.87		6.69		6.52		6.34
Residential real estate	5.80		5.73		5.73		5.71		5.70
Total loans and leases	6.94		6.78		6.61		6.44		6.27
Total interest-earning assets	6.68		6.54		6.37		6.22		6.06
LIABILITIES
Interest-bearing deposits:
Premier checking	3.04		2.97		2.66		2.04		1.86
Other checking	.25		.23		.23		.21	��	.14
Subtotal	1.67		1.52		1.23		.85		.65
Premier savings	3.79		3.66		3.21		2.51		2.38
Other savings	.88		.81		.67		.53		.42
Subtotal	1.90		1.67		1.23		.88		.71
Money market	2.15		1.78		1.31		.99		.67
Subtotal	1.84		1.63		1.24		.89		.68
Certificates of deposit	3.70		3.30		2.93		2.65		2.32
Total interest-bearing deposits	2.40		2.12		1.73		1.39		1.14
Total deposits	1.76		1.54		1.23		.98		.80
Borrowings:
Short-term borrowings	4.51		4.09		3.52		3.01		2.53
Long-term borrowings	4.44		4.53		4.62		4.09		3.88
Total borrowings	4.45		4.42		4.22		3.76		3.46
Total interest-bearing liabilities	2.45		2.26		1.97		1.71		1.53
Net interest margin	4.25	%	4.31	%	4.43	%	4.53	%	4.56	%

(1)Annualized.

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