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 Second Quarter Earnings and EPS ($.52)

SECOND QUARTER HIGHLIGHTS

·Diluted earnings per share of 52 cents

·Net income of $67.1 million

·Return on average assets of 1.92 percent

·Return on average common equity of 27.75 percent

·Average Power AssetsÒ increased $1.2 billion, or 14.3 percent

·Average Power LiabilitiesÒincreased $1 billion, or 11.9 percent

·Increased checking accounts by 29,720, or 7.3 percent (annualized), to 1,658,815

·Opened six new branches during the quarter; 136 new branches since January 2001

EARNINGS SUMMARY

($ in thousands, except per-share data)

	Three Months								Six Months
	Ended June 30,								Ended June 30,
	2006			2005			Change		2006			2005			Change
Net income	$	67,061		$	70,641		(5.1	) %	$	125,283		$	134,106		(6.6	) %
Diluted earnings per common share	.52			.53			(1.9	)	.96			1.00			(4.0	)
Financial Ratios (1)
Return on average assets	1.92		%	2.22		%			1.82		%	2.13		%
Return on average common equity	27.75			30.23					25.80			28.74
Net interest margin	4.22			4.53					4.23			4.54
Net charge-offs as a percentage of average loans and leases	.12			.08					.11			.03

(1)Annualized.

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WAYZATA, MN, July 19, 2006 – TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported diluted earnings per share of 52 cents for the second quarter of 2006, compared with 53 cents for the same 2005 period. Net income for the second quarter of 2006 was $67.1 million, compared with $70.6 million for the same 2005 period. The 2005 second quarter included $4.9 million in pre-tax gains on asset sales for an after-tax impact of two cents per diluted share.

For the second quarter of 2006, return on average assets (“ROA”) was 1.92 percent and return on average common equity (“ROE”) was 27.75 percent, compared with 2.22 percent and 30.23 percent, respectively, for the second quarter of 2005.

Diluted earnings per share for the first six months of 2006 was 96 cents, compared with $1.00 for the same 2005 period. The first six months of 2006 includes $4.5 million in pre-tax gains on asset sales for an after-tax impact of two cents per diluted share. The first six months of 2005 included $15.9 million in pre-tax gains on asset sales and a $3.3 million pre-tax commercial loan recovery for a combined after-tax impact of nine cents per diluted share.

Chief Executive Officer’s Statement

“TCF’s 2006 second quarter earnings performance is the result of our commitment to delivering convenient products and services to our customers, as well as our continued focus on the fundamentals that have made us successful over time,” said Lynn A. Nagorske, Chief Executive Officer. “We achieved solid growth in the second quarter in Power Assets, highlighted by our consumer lending and leasing divisions, while maintaining excellent credit quality,” said Nagorske.

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Total Revenue

	Three Months
($ in thousands)	Ended June 30,						Change
	2006			2005			$			%
Net interest income	$	135,442		$	131,285		$	4,157		3.2	%
Fees and other revenue:
Fees and service charges	71,099			66,755			4,344			6.5
Card revenue	22,984			19,717			3,267			16.6
ATM revenue	9,762			10,795			(1,033		)	(9.6	)
Investments and insurance	2,894			2,791			103			3.7
Total banking fees and other revenue	106,739			100,058			6,681			6.7
Leasing and equipment finance	12,552			11,092			1,460			13.2
Other	4,331			2,051			2,280			111.2
Total fees and other revenue	123,622			113,201			10,421			9.2
Gains on sales of securities	-			4,437			(4,437		)	(100.0	)
Total non-interest income	123,622			117,638			5,984			5.1
Total revenue	$	259,064		$	248,923		$	10,141		4.1
Net interest margin (1)	4.22		%	4.53		%
Fees and other revenue as a % of:
Total revenue	47.72			45.48
Average assets (1)	3.54			3.56

(1)Annualized.

Net Interest Income

TCF’s net interest income in the second quarter of 2006 was $135.4 million, up $4.2 million, or 3.2 percent, from the second quarter of 2005 and up $4.3 million, or 3.3 percent, from the first quarter of 2006. Net interest margin in the second quarter of 2006 was 4.22 percent, compared with 4.53 percent for the second quarter of 2005 and 4.25 percent for the first quarter of 2006. The increase in net interest income from the second quarter of 2005 was primarily due to a $1.3 billion, or 10.9 percent, increase in average interest-earning assets, partially offset by the 31 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 loans due to the flat yield curve and higher deposit and borrowing costs.

The increase in net interest income from the first quarter of 2006 was primarily due to a $414.3 million, or 3.3 percent, increase in average interest-earning assets, partially offset by the three basis point reduction in net interest margin. This decrease in net interest margin was primarily due to the continued

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customer preference for lower-yielding fixed-rate loans due to the flat yield curve and higher deposit and borrowing costs.

Non-interest Income

Total non-interest income was $123.6 million for the second quarter of 2006, up $6 million, or 5.1 percent, from the same period of 2005.

Banking fees and service charges were $71.1 million for the second quarter of 2006, up $4.3 million, or 6.5 percent, from the second quarter of 2005, primarily due to the growth in checking accounts. Card revenues totaled $23 million for the second quarter of 2006, up 16.6 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.

For the second quarter of 2006, ATM revenue was $9.8 million, compared with $10.8 million for the same 2005 period. The decline in ATM revenue was primarily attributable to continued declines in fees charged to TCF customers for use of non-TCF ATM machines due to expansion of TCF’s ATM network and modifications of checking products, partially offset by the increased number of TCF customers with cards.

Leasing and equipment finance revenues were $12.6 million for the second quarter of 2006, up  $1.5 million, or 13.2 percent, from the 2005 second quarter, primarily due to higher operating lease revenues, partially offset by lower sales-type lease revenues. Sales-type lease revenues may fluctuate from quarter to quarter based on customer driven factors not within the control of TCF.

During the 2005 second quarter, TCF sold $441.5 million of mortgage-backed securities and realized gains of $4.4 million. No such sales or gains occurred in the second quarter of 2006.

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New Branch Expansion

TCF opened six new branches during the second quarter of 2006 and closed three branches. TCF has now opened 136 new branches since January 2001, representing 30 percent of TCF’s 455 total branches. TCF plans to open 17 new branches in the remainder of 2006, consisting of 11 traditional branches, three supermarket branches and three campus branches.

	June 30,		June 30,		December 31,
(# of branches)	2006		2005		2000
Total Branches
Minnesota	106		102		84
Illinois	202		197		167
Michigan	62		61		56
Colorado	44		35		12
Wisconsin	35		34		32
Indiana	6		6		1
	455		435		352
New Branches*
Traditional	72		54
Supermarket	61		53
Campus	3		1
Total	136		108
% of Total Branches	30	%	25	%

*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
	June 30,
($ in thousands)	2006		2005		Change		% Change
Number of checking accounts	252,040		187,166		64,874		34.7	%
Average deposits:
Checking	$	395,670	$	283,011	$	112,659	39.8
Savings	302,371		194,865		107,506		55.2
Money market	31,888		18,653		13,235		71.0
Subtotal	729,929		496,529		233,400		47.0
Certificates of deposit	438,877		164,018		274,859		167.6
Total deposits	$	1,168,806	$	660,547	$	508,259	76.9
Total fees and other revenue (quarter ended)	$	18,635	$	13,807	$	4,828	35.0

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Power Assets®

TCF’s Power Asset lending operations continue to generate strong growth. TCF’s average consumer loan balances increased $768.9 million, or 16.4 percent; average commercial real estate loan balances increased $198.4 million, or 9 percent; and leasing and equipment finance balances increased $212.3 million, or 15 percent, from the second quarter of 2005.

	Average Balances for the
	Three Months Ended June 30,				Change
($ in thousands)	2006		2005		$		%
Loans and leases*:
Consumer home equity and other:
Home equity:
First mortgage lien	$	3,509,589	$	3,079,471	$	430,118	14.0	%
Junior lien	1,901,063		1,563,102		337,961		21.6
Total consumer home equity	5,410,652		4,642,573		768,079		16.5
Other	34,854		34,012		842		2.5
Total consumer home equity and other	5,445,506		4,676,585		768,921		16.4
Commercial real estate	2,398,425		2,200,008		198,417		9.0
Commercial business	500,530		432,923		67,607		15.6
Leasing and equipment finance	1,624,781		1,412,520		212,261		15.0
Power Assets	$	9,969,242	$	8,722,036	$	1,247,206	14.3

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

Power Liabilities®

Average Power Liabilities totaled $9.4 billion for the second quarter of 2006, with an average interest rate of 1.97 percent, an increase of $1 billion, or 11.9 percent, from the second quarter of 2005. The growth in average Power Liabilities was 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. Average custodial balances decreased $68.9 million from the second quarter of 2005 due to the sale of mortgage servicing rights in the first quarter of 2006. The total number of checking accounts was 1,658,815 at June 30, 2006, up 55,642 accounts, or 6.9 percent (annualized) from December 31, 2005.

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	Average Balances for the
	Three Months Ended June 30,
($ in thousands)	2006		2005		Change			% Change
Non-interest bearing deposits:
Retail	$	1,557,933	$	1,589,015	$	(31,082	)	(2.0	) %
Small business	604,776		571,701		33,075			5.8
Commercial and custodial	234,188		311,463		(77,275		)	(24.8	)
Total non-interest bearing deposits	2,396,897		2,472,179		(75,282		)	(3.0	)
Interest-bearing deposits:
Premier checking	1,000,749		580,093		420,656			72.5
Other checking	893,800		1,075,421		(181,621		)	(16.9	)
Subtotal	1,894,549		1,655,514		239,035			14.4
Premier savings	855,979		345,567		510,412			147.7
Other savings	1,415,767		1,603,720		(187,953		)	(11.7	)
Subtotal	2,271,746		1,949,287		322,459			16.5
Money market	610,766		633,762		(22,996		)	(3.6	)
Subtotal	4,777,061		4,238,563		538,498			12.7
Certificates of deposit	2,249,694		1,707,919		541,775			31.7
Total interest-bearing deposits	7,026,755		5,946,482		1,080,273			18.2
Power Liabilities	$	9,423,652	$	8,418,661	$	1,004,991		11.9

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 $2.6 billion for the second quarter of 2006, an increase of $28.7 million from the second quarter of 2005. TCF purchased $52 million of mortgage-backed securities in the second quarter of 2006, compared with $103.7 million in the second quarter of 2005. At June 30, 2006, the unrealized pre-tax loss on TCF’s securities available for sale portfolio was $85.7 million.

	Average Balances for the
	Three Months Ended June 30,				Change
($ in thousands)	2006		2005		$			%
Securities available for sale	$	1,880,671	$	1,646,986	$	233,685		14.2	%
Residential real estate loans	714,432		919,379		(204,947		)	(22.3	)
Total	$	2,595,103	$	2,566,365	$	28,738		1.1

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Non-interest Expense

Non-interest expense totaled $162 million for the second quarter of 2006, up $11.9 million, or 7.9 percent, from $150.2 million for the second quarter of 2005, primarily due to new branch expansion totaling  $5.5 million, a $2 million increase in deposit account losses and a $1.7 million increase in operating lease depreciation.

Compensation and employee benefits increased $3.1 million, or 3.8 percent, from the second quarter of 2005, primarily driven by a $2.1 million increase attributable to branch expansion.

Occupancy and equipment expenses increased $3.2 million, or 13 percent, from the second quarter of 2005, primarily due to $1.4 million associated with branch expansion.

Deposit account losses increased $2 million, or 53 percent, from the second quarter of 2005, primarily due to higher uncollectable account overdrafts and external fraud losses.

Operating lease depreciation increased $1.7 million from the second quarter of 2005, primarily driven by a $42.1 million increase in average operating lease balances in TCF’s leasing and equipment finance subsidiaries.

Other expenses increased $1.9 million, or 5.9 percent, from the second quarter of 2005, primarily driven by a $1.4 million increase related to branch expansion.

	Three Months Ended
	June 30,				Change
($ in thousands)	2006		2005		$			%
Compensation and employee benefits	$	85,083	$	81,973	$	3,110		3.8	%
Occupancy and equipment	27,998		24,771		3,227			13.0
Advertising and promotions	6,755		6,778		(23		)	(.3	)
Deposit account losses	5,673		3,708		1,965			53.0
Operating lease depreciation	3,405		1,671		1,734			103.8
Other	33,132		31,279		1,853			5.9
Total non-interest expense	$	162,046	$	150,180	$	11,866		7.9

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Credit Quality

At June 30, 2006, TCF’s allowance for loan and lease losses totaled $59.2 million, or .54 percent of loans and leases, compared with $60.4 million, or .59 percent, at December 31, 2005. The provision for credit losses for the second quarter of 2006 was $3.1 million, up $1.7 million from the second quarter of 2005. The increase in the provision for credit losses in the second quarter of 2006, compared with the second quarter of 2005, is primarily due to the overall growth of the loan and lease portfolio and higher net charge-offs. Net loan and lease charge-offs in the second quarter of 2006 were $3.2 million, or .12 percent (annualized) of average loans and leases, compared with net charge-offs of $1.9 million, or .08 percent (annualized) for the same 2005 period.

At June 30, 2006, TCF’s over-30-day delinquency rate was .32 percent, down from ..43 percent at December 31, 2005. Non-accrual loans and leases were $25.1 million, or .23 percent of net loans and leases, at June 30, 2006, compared with $29.6 million, or .29 percent, at December 31, 2005. Total non-performing assets were $51.1 million, or .36 percent of total assets, at June 30, 2006, up from $47.4 million, or .35 percent, at December 31, 2005.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
($ in thousands)	2006			2005			2006			2005
Allowance for loan and lease losses:
Balance at beginning of period	$	59,378		$	76,883		$	60,396		$	79,878
Net (charge-offs) recoveries:
Consumer home equity and other	(1,319		)	(1,016		)	(2,758		)	(2,325		)
Commercial real estate	—			3			(69		)	(34		)
Commercial business	(170		)	31			(324		)	2,468
Leasing and equipment finance	(1,705		)	(911		)	(2,536		)	(1,525		)
Residential real estate	(35		)	(11		)	(67		)	(47		)
Total	(3,229		)	(1,904		)	(5,754		)	(1,463		)
Provision for credit losses	3,097			1,427			4,604			(2,009		)
Balance at end of period	$	59,246		$	76,406		$	59,246		$	76,406

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Income Taxes

TCF’s income tax expense was $26.9 million for the second quarter of 2006, or 28.60 percent of income before income tax expense, up from $26.7 million, or 27.41 percent, for the comparable 2005 period. The second quarter of 2006 and 2005 include reductions of income tax expense of $4.1 million and $5.2 million, respectively, related to favorable developments in uncertain tax positions including the closing of certain previous years’ tax returns, clarification of existing state tax legislation and developments in income tax audits.

Capital

During the second quarter of 2006, TCF repurchased 500,000 shares of its common stock at an average cost of $26.41 per share. TCF has 3.8 million shares remaining in its stock repurchase program authorized by its Board of Directors.  

	At June 30,					At June 30,
($ in thousands, except per-share data)	2006					2005
Stockholders’ equity	$	977,385				$	954,557
Stockholders’ equity to total assets	6.88		%			7.57		%
Book value per common share	$	7.44				$	7.12
Total risk-based capital	$	1,137,792		11.12	%	$	998,270		10.80	%
Total risk-based capital “well-capitalized” requirement	1,023,000			10.00		923,968			10.00
Excess risk-based capital over “well-capitalized” requirement	114,792			1.12		74,302			.80

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Website Information

A live webcast of TCF’s conference call to discuss second quarter earnings will be hosted at TCF’s website, www.tcfexpress.com, on July 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 $14.2 billion in assets. TCF has 455 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin and Indiana. Other TCF affiliates provide leasing and equipment finance, 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 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 June 30,
	2006		2005		$ Change			% Change
Interest income:
Loans and leases	$	188,988	$	155,014	$	33,974		21.9	%
Securities available for sale	25,156		21,325		3,831			18.0
Education loans held for sale	4,205		2,566		1,639			63.9
Investments	792		1,094		(302		)	(27.6	)
Total interest income	219,141		179,999		39,142			21.7
Interest expense:
Deposits	46,247		20,646		25,601			124.0
Borrowings	37,452		28,068		9,384			33.4
Total interest expense	83,699		48,714		34,985			71.8
Net interest income	135,442		131,285		4,157			3.2
Provision for credit losses	3,097		1,427		1,670			117.0
Net interest income after provision for credit losses	132,345		129,858		2,487			1.9
Non-interest income:
Fees and service charges	71,099		66,755		4,344			6.5
Card revenue	22,984		19,717		3,267			16.6
ATM revenue	9,762		10,795		(1,033		)	(9.6	)
Investments and insurance revenue	2,894		2,791		103			3.7
Subtotal	106,739		100,058		6,681			6.7
Leasing and equipment finance	12,552		11,092		1,460			13.2
Other	4,331		2,051		2,280			111.2
Fees and other revenue	123,622		113,201		10,421			9.2
Gains on sales of securities available for sale	-		4,437		(4,437		)	(100.0	)
Total non-interest income	123,622		117,638		5,984			5.1
Non-interest expense:
Compensation and employee benefits	85,083		81,973		3,110			3.8
Occupancy and equipment	27,998		24,771		3,227			13.0
Advertising and promotions	6,755		6,778		(23		)	(.3	)
Deposit account losses	5,673		3,708		1,965			53.0
Other	36,537		32,950		3,587			10.9
Total non-interest expense	162,046		150,180		11,866			7.9
Income before income tax expense	93,921		97,316		(3,395		)	(3.5	)
Income tax expense	26,860		26,675		185			.7
Net income	$	67,061	$	70,641	$	(3,580	)	(5.1	)
Net income per common share:
Basic	$	.52	$	.53	$	(.01	)	(1.9	)
Diluted	$	.52	$	.53	$	(.01	)	(1.9	)
Dividends declared per common share	$	.23	$	.2125	$	.0175		8.2
Average common and common equivalent shares outstanding (in thousands):
Basic	129,169		132,410		(3,241		)	(2.4	)
Diluted	129,362		132,742		(3,380		)	(2.5	)

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except per-share data)
(Unaudited)

	Six Months Ended June 30,
	2006		2005			$ Change			% Change
Interest income:
Loans and leases	$	365,971	$	301,558		$	64,413		21.4	%
Securities available for sale	48,855		42,820			6,035			14.1
Education loans held for sale	8,552		4,820			3,732			77.4
Investments	1,469		2,146			(677		)	(31.5	)
Total interest income	424,847		351,344			73,503			20.9
Interest expense:
Deposits	86,094		36,584			49,510			135.3
Borrowings	72,143		54,422			17,721			32.6
Total interest expense	158,237		91,006			67,231			73.9
Net interest income	266,610		260,338			6,272			2.4
Provision for credit losses	4,604		(2,009		)	6,613			N.M.
Net interest income after provision for credit losses	262,006		262,347			(341		)	(.1	)
Non-interest income:
Fees and service charges	132,654		124,693			7,961			6.4
Card revenue	44,246		37,359			6,887			18.4
ATM revenue	18,861		20,527			(1,666		)	(8.1	)
Investments and insurance revenue	5,382		5,644			(262		)	(4.6	)
Subtotal	201,143		188,223			12,920			6.9
Leasing and equipment finance	24,467		21,785			2,682			12.3
Other	15,511		10,008			5,503			55.0
Fees and other revenue	241,121		220,016			21,105			9.6
Gains on sales of securities available for sale	—		9,676			(9,676		)	(100.0	)
Total non-interest income	241,121		229,692			11,429			5.0
Non-interest expense:
Compensation and employee benefits	171,251		163,424			7,827			4.8
Occupancy and equipment	56,049		50,150			5,899			11.8
Advertising and promotions	12,471		13,025			(554		)	(4.3	)
Deposit account losses	9,686		7,275			2,411			33.1
Other	72,513		64,323			8,190			12.7
Total non-interest expense	321,970		298,197			23,773			8.0
Income before income tax expense	181,157		193,842			(12,685		)	(6.5	)
Income tax expense	55,874		59,736			(3,862		)	(6.5	)
Net income	$	125,283	$	134,106		$	(8,823	)	(6.6	)
Net income per common share:
Basic	$	.97	$	1.01		$	(.04	)	(4.0	)
Diluted	$	.96	$	1.00		$	(.04	)	(4.0	)
Dividends declared per common share	$	.46	$	.425		$	.035		8.2
Average common and common equivalent shares outstanding (in thousands):
Basic	129,722		133,196			(3,474		)	(2.6	)
Diluted	129,902		133,563			(3,661		)	(2.7	)

N.M. Not Meaningful.

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14

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Dollars in thousands, except per-share data)

	At			At			At			% Change from
	June 30, 2006			December 31, 2005			June 30, 2005			December 31, 2005		June 30, 2005
	(Unaudited)						(Unaudited)
ASSETS
Cash and due from banks	$	371,942		$	374,701		$	361,158		(.7	) %	3.0	%
Investments	76,124			79,943			104,127			(4.8	)	(26.9	)
Securities available for sale	1,781,995			1,648,615			1,406,575			8.1		26.7
Education loans held for sale	227,703			229,820			213,227			(.9	)	6.8
Loans and leases:
Consumer home equity and other	5,579,647			5,187,584			4,808,003			7.6		16.0
Commercial real estate	2,411,028			2,297,500			2,202,752			4.9		9.5
Commercial business	543,314			435,233			447,958			24.8		21.3
Leasing and equipment finance	1,677,641			1,503,794			1,419,868			11.6		18.2
Subtotal	10,211,630			9,424,111			8,878,581			8.4		15.0
Residential real estate	695,213			770,441			884,141			(9.8	)	(21.4	)
Total loans and leases	10,906,843			10,194,552			9,762,722			7.0		11.7
Allowance for loan and lease losses	(59,246		)	(60,396		)	(76,406		)	1.9		22.5
Net loans and leases	10,847,597			10,134,156			9,686,316			7.0		12.0
Premises and equipment	384,360			365,146			339,619			5.3		13.2
Goodwill	152,599			152,599			152,599			-		-
Other assets	356,029			380,380			343,595			(6.4	)	3.6
	$	14,198,349		$	13,365,360		$	12,607,216		6.2		12.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Checking	$	4,341,029		$	4,279,853		$	4,019,685		1.4		8.0
Savings	2,297,636			2,238,204			2,046,068			2.7		12.3
Money market	603,024			677,017			629,731			(10.9	)	(4.2	)
Subtotal	7,241,689			7,195,074			6,695,484			.6		8.2
Certificates of deposit	2,382,273			1,915,620			1,728,842			24.4		37.8
Total deposits	9,623,962			9,110,694			8,424,326			5.6		14.2
Short-term borrowings	561,374			472,126			1,045,582			18.9		(46.3	)
Long-term borrowings	2,778,277			2,511,010			1,899,047			10.6		46.3
Total borrowings	3,339,651			2,983,136			2,944,629			12.0		13.4
Accrued expenses and other liabilities	257,351			273,058			283,704			(5.8	)	(9.3	)
Total liabilities	13,220,964			12,366,888			11,652,659			6.9		13.5
Stockholders’ equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 184,202,447; 184,386,193 and 184,425,478 shares issued	1,842			1,844			1,844			(.1	)	(.1	)
Additional paid-in capital	468,110			497,270			496,910			(5.9	)	(5.8	)
Retained earnings, subject to certain restrictions	1,601,009			1,536,611			1,462,393			4.2		9.5
Accumulated other comprehensive (loss) income	(55,515		)	(21,215		)	1,601			(161.7	)	N.M.
Treasury stock at cost, 52,813,430; 50,609,970 and 50,301,984 shares, and other	(1,038,061		)	(1,016,038		)	(1,008,191		)	(2.2	)	(3.0	)
Total stockholders’ equity	977,385			998,472			954,557			(2.1	)	2.4
	$	14,198,349		$	13,365,360		$	12,607,216		6.2		12.6

N.M. Not Meaningful.

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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 June 30, 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	$	17,099	.31	%	$	1,319	.10	%	$	16,643	.32	%	$	5,210		.11	%
Commercial real estate	22,127		.92		-		-		21,222		.92		(8		)	-
Commercial business	7,123		1.31		170		.14		6,602		1.52		(2,173		)	(.51	)
Leasing and equipment finance	12,352		.74		1,705		.42		15,313		1.02		21,384			1.50
Residential real estate	545		.08		35		.02		616		.08		91			.01
Total	$	59,246	.54		$	3,229	.12		$	60,396	.59		$	24,504		.25

Non-performing assets:

	At		At		At		Change from
	June 30,		December 31,		June 30,		December 31,			June 30,
	2006		2005		2005		2005			2005
Non-accrual loans and leases:
Consumer home equity and other	$	9,898	$	18,410	$	10,324	$	(8,512	)	$	(426	)
Commercial real estate	7,319		188		-		7,131			7,319
Commercial business	1,481		2,207		2,660		(726		)	(1,179		)
Leasing and equipment finance	4,906		6,434		26,485		(1,528		)	(21,579		)
Residential real estate	1,536		2,409		2,230		(873		)	(694		)
Total non-accrual loans and leases	25,140		29,648		41,699		(4,508		)	(16,559		)
Other real estate owned:
Residential real estate	20,393		14,877		12,479		5,516			7,914
Commercial real estate	5,593		2,834		4,799		2,759			794
Total other real estate owned	25,986		17,711		17,278		8,275			8,708
Total non-performing assets	$	51,126	$	47,359	$	58,977	$	3,767		$	(7,851	)

Over 30-day delinquency data (2):

	At June 30,				At December 31,				At June 30,
	2006				2005				2005
	Principal		% of		Principal		% of		Principal		% of
	Balances		Portfolio		Balances		Portfolio		Balances		Portfolio
Consumer home equity and other	$	19,950	.36	%	$	18,556	.36	%	$	16,406	.34	%
Commercial real estate	108		-		10,038		.44		663		.03
Commercial business	241		.04		819		.19		292		.07
Leasing and equipment finance	7,056		.42		6,182		.41		6,069		.44
Residential real estate	7,195		1.04		8,009		1.04		8,617		.98
Total	$	34,550	.32		$	43,604	.43		$	32,047	.33

	At		At		At		Change from
	June 30,		December 31,		June 30,		December 31,		June 30,
	2006		2005		2005		2005		2005
Accruing loans and leases 90 or more days past due	$	7,070	$	6,475	$	6,165	$	595	$	905

Potential Problem Loans and Leases (3):

	At		At		At		Change from
	June 30,		December 31,		June 30,		December 31,			June 30,
	2006		2005		2005		2005			2005
Commercial real estate	$	28,084	$	35,341	$	29,256	$	(7,257	)	$	(1,172	)
Commercial business	15,440		11,793		21,997		3,647			(6,557		)
Leasing and equipment finance	7,859		7,648		8,855		211			(996		)
	$	51,383	$	54,782	$	60,108	$	(3,399	)	$	(8,725	)

(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 June 30,
	2006						2005
	Average				Yields and		Average				Yields and
	Balance		Interest		Rates (1)		Balance		Interest		Rates (1)
ASSETS
Investments	$	69,176	$	792	4.59	%	$	101,305	$	1,094	4.33	%
Securities available for sale	1,880,671		25,156		5.35		1,646,986		21,325		5.18
Education loans held for sale	228,492		4,205		7.38		213,279		2,566		4.83
Loans and leases:
Consumer home equity:
Fixed-rate	3,721,249		63,061		6.80		2,048,035		34,323		6.72
Variable-rate	1,689,403		36,611		8.69		2,594,538		43,806		6.77
Consumer - other	34,854		921		10.60		34,012		779		9.19
Total consumer home equity and other	5,445,506		100,593		7.41		4,676,585		78,908		6.77
Commercial real estate:
Fixed- and adjustable-rate	1,672,864		26,007		6.24		1,365,132		20,910		6.14
Variable-rate	725,561		13,754		7.60		834,876		11,903		5.72
Total commercial real estate	2,398,425		39,761		6.65		2,200,008		32,813		5.98
Commercial business:
Fixed- and adjustable-rate	127,702		1,969		6.18		73,654		1,056		5.75
Variable-rate	372,828		6,940		7.47		359,269		4,978		5.56
Total commercial business	500,530		8,909		7.14		432,923		6,034		5.59
Leasing and equipment finance	1,624,781		29,370		7.23		1,412,520		24,133		6.83
Subtotal	9,969,242		178,633		7.18		8,722,036		141,888		6.52
Residential real estate	714,432		10,355		5.80		919,379		13,126		5.71
Total loans and leases	10,683,674		188,988		7.09		9,641,415		155,014		6.44
Total interest-earning assets	12,862,013		219,141		6.83		11,602,985		179,999		6.22
Other assets	1,105,735						1,099,048
Total assets	$	13,967,748					$	12,702,033
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,557,933					$	1,589,015
Small business	604,776						571,701
Commercial and custodial	234,188						311,463
Total non-interest bearing deposits	2,396,897						2,472,179
Interest-bearing deposits:
Premier checking	1,000,749		7,923		3.18		580,093		2,950		2.04
Other checking	893,800		512		.23		1,075,421		561		.21
Subtotal	1,894,549		8,435		1.79		1,655,514		3,511		.85
Premier savings	855,979		8,612		4.04		345,567		2,160		2.51
Other savings	1,415,767		2,970		.84		1,603,720		2,137		.53
Subtotal	2,271,746		11,582		2.04		1,949,287		4,297		.88
Money market	610,766		3,429		2.25		633,762		1,564		.99
Subtotal	4,777,061		23,446		1.97		4,238,563		9,372		.89
Certificates of deposit	2,249,694		22,801		4.07		1,707,919		11,274		2.65
Total interest-bearing deposits	7,026,755		46,247		2.64		5,946,482		20,646		1.39
Total deposits	9,423,652		46,247		1.97		8,418,661		20,646		.98
Borrowings:
Short-term borrowings	573,418		7,140		4.99		920,471		6,908		3.01
Long-term borrowings	2,703,623		30,312		4.50		2,075,264		21,160		4.09
Total borrowings	3,277,041		37,452		4.58		2,995,735		28,068		3.76
Total deposits and borrowings	12,700,693		83,699		2.64		11,414,396		48,714		1.71
Other liabilities	300,436						352,861
Total liabilities	13,001,129						11,767,257
Stockholders’ equity	966,619						934,776
Total liabilities and stockholders’ equity	$	13,967,748					$	12,702,033
Net interest income and margin			$	135,442	4.22	%			$	131,285	4.53	%

(1)    Annualized.

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17

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES
(Dollars in thousands)
(Unaudited)

	Six Months Ended June 30,
	2006						2005
	Average				Yields and		Average				Yields and
	Balance		Interest		Rates (1)		Balance		Interest		Rates (1)
ASSETS
Investments	$	69,912	$	1,469	4.22	%	$	103,643	$	2,146	4.17	%
Securities available for sale	1,831,402		48,855		5.34		1,655,154		42,820		5.17
Education loans held for sale	254,692		8,552		6.77		210,371		4,820		4.62
Loans and leases:
Consumer home equity:
Fixed-rate	3,536,733		118,583		6.76		1,902,409		63,467		6.73
Variable-rate	1,776,991		74,335		8.44		2,647,837		86,531		6.59
Consumer - other	34,843		1,714		9.92		35,023		1,564		9.01
Total consumer home equity and other	5,348,567		194,632		7.34		4,585,269		151,562		6.67
Commercial real estate:
Fixed- and adjustable-rate	1,621,257		49,933		6.21		1,346,251		40,977		6.14
Variable-rate	742,935		27,222		7.39		838,009		22,772		5.48
Total commercial real estate	2,364,192		77,155		6.58		2,184,260		63,749		5.89
Commercial business:
Fixed- and adjustable-rate	121,757		3,718		6.16		74,307		2,100		5.70
Variable-rate	353,331		12,575		7.18		345,986		9,095		5.30
Total commercial business	475,088		16,293		6.92		420,293		11,195		5.37
Leasing and equipment finance	1,579,161		56,656		7.18		1,401,094		47,924		6.84
Subtotal	9,767,008		344,736		7.11		8,590,916		274,430		6.43
Residential real estate	733,004		21,235		5.80		951,891		27,128		5.71
Total loans and leases	10,500,012		365,971		7.02		9,542,807		301,558		6.36
Total interest-earning assets	12,656,018		424,847		6.75		11,511,975		351,344		6.14
Other assets	1,134,190						1,086,604
Total assets	$	13,790,208					$	12,598,579
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,555,983					$	1,580,426
Small business	597,548						559,448
Commercial and custodial	258,164						312,543
Total non-interest bearing deposits	2,411,695						2,452,417
Interest-bearing deposits:
Premier checking	969,575		14,954		3.11		520,073		5,055		1.96
Other checking	901,835		1,068		.24		1,082,442		924		.17
Subtotal	1,871,410		16,022		1.73		1,602,515		5,979		.75
Premier savings	818,222		15,911		3.92		313,725		3,811		2.45
Other savings	1,428,223		6,084		.86		1,605,131		3,782		.48
Subtotal	2,246,445		21,995		1.97		1,918,856		7,593		.80
Money market	640,022		6,975		2.20		640,442		2,635		.83
Subtotal	4,757,877		44,992		1.91		4,161,813		16,207		.79
Certificates of deposit	2,128,341		41,102		3.89		1,650,619		20,377		2.49
Total interest-bearing deposits	6,886,218		86,094		2.52		5,812,432		36,584		1.27
Total deposits	9,297,913		86,094		1.87		8,264,849		36,584		.89
Borrowings:
Short-term borrowings	623,863		14,643		4.73		947,512		12,988		2.76
Long-term borrowings	2,593,321		57,500		4.47		2,095,205		41,434		3.99
Total borrowings	3,217,184		72,143		4.52		3,042,717		54,422		3.60
Total deposits and borrowings	12,515,097		158,237		2.55		11,307,566		91,006		1.62
Other liabilities	304,060						357,727
Total liabilities	12,819,157						11,665,293
Stockholders’ equity	971,051						933,286
Total liabilities and stockholders’ equity	$	13,790,208					$	12,598,579
Net interest income and margin			$	266,610	4.23	%			$	260,338	4.54	%

(1)    Annualized.

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18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY STATEMENTS OF INCOME AND FINANCIAL RATIOS
(Dollars in thousands, except per-share data)
(Unaudited)

	At or For the Three Months Ended
	Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			Jun. 30,
	2006			2006			2005			2005			2005
Interest income:
Loans and leases	$	188,988		$	176,983		$	171,436		$	163,178		$	155,014
Securities available for sale	25,156			23,699			20,766			17,893			21,325
Education loans held for sale	4,205			4,347			3,342			2,759			2,566
Investments	792			677			841			463			1,094
Total interest income	219,141			205,706			196,385			184,293			179,999
Interest expense:
Deposits	46,247			39,847			34,283			26,539			20,646
Borrowings	37,452			34,691			32,820			29,684			28,068
Total interest expense	83,699			74,538			67,103			56,223			48,714
Net interest income	135,442			131,168			129,282			128,070			131,285
Provision for credit losses	3,097			1,507			3,637			3,394			1,427
Net interest income after provision for credit losses	132,345			129,661			125,645			124,676			129,858
Non-interest income:
Fees and service charges	71,099			61,555			67,716			70,315			66,755
Card revenue	22,984			21,262			21,419			21,025			19,717
ATM revenue	9,762			9,099			9,557			10,646			10,795
Investments and insurance revenue	2,894			2,488			2,339			2,682			2,791
Subtotal	106,739			94,404			101,031			104,668			100,058
Leasing and equipment finance	12,552			11,915			15,405			10,197			11,092
Other	4,331			11,180			8,590			7,752			2,051
Fees and other revenue	123,622			117,499			125,026			122,617			113,201
Gains on sales of securities available for sale	—			—			—			995			4,437
Total non-interest income	123,622			117,499			125,026			123,612			117,638
Non-interest expense:
Compensation and employee benefits	85,083			86,168			82,700			80,402			81,973
Occupancy and equipment	27,998			28,051			27,819			25,931			24,771
Advertising and promotions	6,755			5,716			6,088			6,578			6,778
Deposit account losses	5,673			4,013			6,607			6,591			3,708
Other	36,537			35,976			35,264			34,411			32,950
Total non-interest expense	162,046			159,924			158,478			153,913			150,180
Income before income tax expense	93,921			87,236			92,193			94,375			97,316
Income tax expense	26,860			29,014			26,653			28,889			26,675
Net income	$	67,061		$	58,222		$	65,540		$	65,486		$	70,641
Net income per common share:
Basic	$	.52		$	.45		$	.50		$	.50		$	.53
Diluted	$	.52		$	.45		$	.50		$	.50		$	.53
Dividends declared per common share	$	.23		$	.23		$	.2125		$	.2125		$	.2125
Financial Ratios and Other Information:
Return on average assets (1)	1.92		%	1.71		%	2.01		%	2.07		%	2.22		%
Return on average common equity (1)	27.75			23.82			27.09			27.41			30.23
Net interest margin (1)	4.22			4.25			4.31			4.43			4.53
Net charge-offs as a percentage of average loans and leases (1)	.12			.10			.09			.85			.08
Average total equity to average assets	6.92		%	7.18		%	7.40		%	7.56		%	7.36		%

(1)    Annualized.

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19

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION
(In thousands)
(Unaudited)

	Jun. 30,			Mar. 31,			Dec. 31,			Sept. 30,			Jun. 30,
	2006			2006			2005			2005			2005
ASSETS
Cash and due from banks	$	325,715		$	332,293		$	346,555		$	346,065		$	331,110
Investments	69,176			70,655			83,027			91,355			101,305
Securities available for sale	1,880,671			1,781,586			1,577,967			1,393,742			1,646,986
Education loans held for sale	228,492			281,185			230,623			206,850			213,279
Loans and leases:
Consumer home equity:
Fixed-rate	3,721,249			3,350,168			2,944,673			2,454,762			2,048,035
Variable-rate	1,689,403			1,865,549			2,120,363			2,392,934			2,594,538
Consumer - other	34,854			34,833			34,544			34,469			34,012
Total consumer home equity and other	5,445,506			5,250,550			5,099,580			4,882,165			4,676,585
Commercial real estate:
Fixed- and adjustable-rate	1,672,864			1,569,078			1,451,488			1,398,340			1,365,132
Variable-rate	725,561			760,501			809,855			822,223			834,876
Total commercial real estate	2,398,425			2,329,579			2,261,343			2,220,563			2,200,008
Commercial business:
Fixed- and adjustable-rate	127,702			115,745			106,974			85,611			73,654
Variable-rate	372,828			333,619			321,436			348,030			359,269
Total commercial business	500,530			449,364			428,410			433,641			432,923
Leasing and equipment finance	1,624,781			1,533,034			1,461,491			1,428,653			1,412,520
Subtotal	9,969,242			9,562,527			9,250,824			8,965,022			8,722,036
Residential real estate	714,432			751,782			792,245			849,069			919,379
Total loans and leases	10,683,674			10,314,309			10,043,069			9,814,091			9,641,415
Allowance for loan and lease losses	(59,524		)	(59,488		)	(59,509		)	(76,207		)	(76,774		)
Net loans and leases	10,624,150			10,254,821			9,983,560			9,737,884			9,564,641
Premises and equipment	381,174			372,746			358,505			345,641			333,614
Goodwill	152,599			152,599			152,599			152,599			152,599
Other assets	305,771			364,809			336,464			357,401			358,499
	$	13,967,748		$	13,610,694		$	13,069,300		$	12,631,537		$	12,702,033
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest-bearing deposits:
Retail	$	1,557,933		$	1,554,008		$	1,492,418		$	1,539,893		$	1,589,015
Small business	604,776			590,240			623,310			600,374			571,701
Commercial and custodial	234,188			282,408			295,910			325,025			311,463
Total non-interest bearing deposits	2,396,897			2,426,656			2,411,638			2,465,292			2,472,179
Interest-bearing deposits:
Premier checking	1,000,749			938,055			827,742			694,835			580,093
Other checking	893,800			909,960			936,517			1,004,507			1,075,421
Subtotal	1,894,549			1,848,015			1,764,259			1,699,342			1,655,514
Premier savings	855,979			780,046			640,444			436,690			345,567
Other savings	1,415,767			1,440,818			1,475,505			1,549,451			1,603,720
Subtotal	2,271,746			2,220,864			2,115,949			1,986,141			1,949,287
Money market	610,766			669,602			649,123			632,293			633,762
Subtotal	4,777,061			4,738,481			4,529,331			4,317,776			4,238,563
Certificates of deposit	2,249,694			2,005,639			1,886,787			1,770,805			1,707,919
Total interest-bearing deposits	7,026,755			6,744,120			6,416,118			6,088,581			5,946,482
Total deposits	9,423,652			9,170,776			8,827,756			8,553,873			8,418,661
Borrowings:
Short-term borrowings	573,418			674,868			739,372			1,037,240			920,471
Long-term borrowings	2,703,623			2,481,793			2,207,711			1,757,968			2,075,264
Total borrowings	3,277,041			3,156,661			2,947,083			2,795,208			2,995,735
Accrued expenses and other liabilities	300,436			305,672			326,693			326,976			352,861
Total liabilities	13,001,129			12,633,109			12,101,532			11,676,057			11,767,257
Stockholders’ equity:
Common stock	1,842			1,843			1,844			1,844			1,845
Additional paid-in capital	467,768			469,062			496,442			496,496			497,810
Retained earnings	1,573,856			1,541,523			1,510,336			1,473,273			1,431,903
Accumulated other comprehensive loss	(48,838		)	(24,638		)	(24,157		)	(3,104		)	(1,992		)
Treasury stock at cost and other	(1,028,009		)	(1,010,205		)	(1,016,697		)	(1,013,029		)	(994,790		)
	966,619			977,585			967,768			955,480			934,776
	$	13,967,748		$	13,610,694		$	13,069,300		$	12,631,537		$	12,702,033
Supplemental Information:
Securities available for sale	$	1,880,671		$	1,781,586		$	1,577,967		$	1,393,742		$	1,646,986
Residential real estate loans	714,432			751,782			792,245			849,069			919,379
Total securities available for sale and residential real estate loans	$	2,595,103		$	2,533,368		$	2,370,212		$	2,242,811		$	2,566,365

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20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED QUARTERLY YIELDS AND RATES (1)
(Unaudited)

	Jun. 30,		Mar. 31,		Dec. 31,		Sept. 30,		Jun. 30,
	2006		2006		2005		2005		2005
ASSETS
Investments	4.59	%	3.86	%	4.03	%	2.02	%	4.33	%
Securities available for sale	5.35		5.32		5.26		5.14		5.18
Education loans held for sale	7.38		6.27		5.75		5.29		4.83
Loans and leases:
Consumer home equity:
Fixed-rate	6.80		6.72		6.66		6.68		6.72
Variable-rate	8.69		8.20		7.68		7.22		6.77
Consumer - other	10.60		9.23		9.58		9.38		9.19
Total consumer home equity and other	7.41		7.26		7.11		6.96		6.77
Commercial real estate:
Fixed- and adjustable-rate	6.24		6.18		6.16		6.15		6.14
Variable-rate	7.60		7.18		6.75		6.27		5.72
Total commercial real estate	6.65		6.51		6.38		6.20		5.98
Commercial business:
Fixed- and adjustable-rate	6.18		6.13		5.90		5.88		5.75
Variable-rate	7.47		6.85		6.41		6.02		5.56
Total commercial business	7.14		6.66		6.29		5.99		5.59
Leasing and equipment finance	7.23		7.12		7.00		6.74		6.83
Subtotal	7.18		7.03		6.87		6.69		6.52
Residential real estate	5.80		5.80		5.73		5.73		5.71
Total loans and leases	7.09		6.94		6.78		6.61		6.44
Total interest-earning assets	6.83		6.68		6.54		6.37		6.22
LIABILITIES
Interest-bearing deposits:
Premier checking	3.18		3.04		2.97		2.66		2.04
Other checking	.23		.25		.23		.23		.21
Subtotal	1.79		1.67		1.52		1.23		.85
Premier savings	4.04		3.79		3.66		3.21		2.51
Other savings	.84		.88		.81		.67		.53
Subtotal	2.04		1.90		1.67		1.23		.88
Money market	2.25		2.15		1.78		1.31		.99
Subtotal	1.97		1.84		1.63		1.24		.89
Certificates of deposit	4.07		3.70		3.30		2.93		2.65
Total interest-bearing deposits	2.64		2.40		2.12		1.73		1.39
Total deposits	1.97		1.76		1.54		1.23		.98
Borrowings:
Short-term borrowings	4.99		4.51		4.09		3.52		3.01
Long-term borrowings	4.50		4.44		4.53		4.62		4.09
Total borrowings	4.58		4.45		4.42		4.22		3.76
Total interest-bearing liabilities	2.64		2.45		2.26		1.97		1.71
Net interest margin	4.22	%	4.25	%	4.31	%	4.43	%	4.53	%

(1)Annualized.

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