TCF Financial 8-K Results of Operations and Financial Condition

Exhibit 99.1

NEWS RELEASE

CONTACT:	Jason Korstange
	(952) 745-2755
	www.tcfbank.com

FOR IMMEDIATE RELEASE

TCF FINANCIAL CORPORATION 200 Lake Street East, Wayzata, MN 55391-1693

TCF Reports Third Quarter Earnings and EPS ($.48)

THIRD QUARTER HIGHLIGHTS

•Diluted earnings per share of 48 cents

•Net income of $59.1 million

•Return on average assets of 1.55 percent

•Return on average common equity of 23.39 percent

EARNINGS SUMMARY																	Table 1
($ in thousands, except per-share data)										Percent Change
	3Q 2007			2Q 2007			3Q 2006			3Q07 vs 2Q07		3Q07 vs 3Q06		YTD 2007			YTD 2006			Percent Change
Net income	$	59,138		$	62,129		$	65,927		(4.	8)%	(10.	3)%	$	203,991		$	191,210		6.	7%
Diluted earnings per common share	.48			.49			.51			(2.	0)	(5.	9)	1.62			1.48			9.	5
Financial Ratios (1)
Return on average assets	1. 55		%	1. 67		%	1. 86		%					1. 82		%	1. 83		%
Return on average common equity	23. 39			24. 16			26. 44							26. 58			26. 04
Net interest margin	3. 90			4. 02			4. 11							3. 97			4. 19
Net charge-offs as a percentage  of average loans and leases	. 38			. 24			. 18							. 24			. 14
(1) Annualized

WAYZATA, MN, October 23, 2007 — TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported diluted earnings per share of 48 cents for the third quarter of 2007, down 5.9 percent, compared with 51 cents for the same 2006 period. Net income for the third quarter of 2007 was $59.1 million, down 10.3 percent from $65.9 million for the third quarter of 2006. The third quarter of 2007 included $2 million in pre-tax gains on sales of mortgage-backed securities, $1.2 million in pre-tax gains on sales of real estate and a $2.6 million favorable income tax adjustment for a combined after-tax impact of four cents per diluted share. The third quarter of 2006 included $1.3 million in pre-tax gains on sales of real estate and a $1.2 million favorable income tax adjustment for an after-tax impact of one cent per diluted share.

For the third quarter of 2007, return on average assets (“ROA”) was 1.55 percent and return on average common equity (“ROE”) was 23.39 percent, compared with 1.86 percent and 26.44 percent, respectively, for the third quarter of 2006.

Diluted earnings per share for the first nine months of 2007 was $1.62, compared with $1.48 for the same 2006 period. The first nine months of 2007 included a $31.2 million pre-tax gain on the sale of ten outstate Michigan branches, $4 million of pre-tax gains on sales of real estate, $2 million in pre-tax gains on sales of mortgage-backed securities and $12.9 million of favorable income tax settlements and adjustments for a combined after-tax impact of 30 cents per diluted share. The first nine months of 2006 included $5.8 million in pre-tax gains on sales of assets and $5.3 million of favorable income tax adjustments for a combined after-tax impact of seven cents per diluted share.

Chief Executive Officer’s Statement

“The operating environment for all banks continues to be difficult in many areas: a flat or inverted yield curve, a slowdown in the housing market and rising credit costs,” said Lynn A. Nagorske, CEO, TCF Financial Corporation. “However, TCF experienced good Power Asset growth and non-interest expenses continue to be very well controlled.”

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Total Revenue																Table 2
										Percent Change
($ in thousands)	3Q			2Q			3Q			3Q07 vs		3Q07 vs		YTD				YTD			Percent
	2007			2007			2006			2Q07		3Q06		2007				2006			Change
Net interest income	$	137,704		$	137,425		$	135,033		.	2%	2.	0%	$	410,606			$	401,643		2.	2%
Fees and other revenue:
Fees and service charges	71,965			71,728			70,777			.	3	1.	7	205,715				203,431			1.	1
Card revenue	25,685			24,876			24,353			3.	3	5.	5	73,822				68,599			7.	6
ATM revenue	9,251			9,314			9,880			(.	7)	(6.	4)	27,314				28,741			(5.	0)
Investments and insurance	2,632			2,772			3,226			(5.	1)	(18.	4)	7,582				8,608			(11.	9)
Total banking fees	109,533			108,690			108,236			.	8	1.	2	314,433				309,379			1.	6
Leasing and equipment finance	15,110			15,199			13,372			(.	6)	13.	0	44,310				37,839			17.	1
Other	1,751			2,993			6,644			(41.	5)	(73.	6)	6,697				19,227			(65.	2)
Total fees and other revenue	126,394			126,882			128,252			(.	4)	(1.	4)	365,440				366,445			(.	3)
Gains on sales of securities available for sale	2,017			—			—			100.	0	100.	0	2,017				—			100.	0
Gains on sales of branches and real estate	1,246			2,723			1,260			(54.	2)	(1.	1)	35,142				4,188			N.	M.
Total non-interest income	129,657			129,605			129,512			—		.	1	402,599				370,633			8.	6
Total revenue	$	267,361		$	267,030		$	264,545		.	1	1.	1	$	813,205			$	772,276		5.	3
Net interest margin (1)	3.		90%	4.		02%	4.		11%					3.			97%	4.		19%
Fees and other revenue as a % of:
Total revenue	47.		27	47.		52	48.		48					44.			94	47.		45
Average assets (1)	3.		32	3.		42	3.		61					3.			26	3.		51
N.M. = Not Meaningful
(1)  Annualized

Net Interest Income

TCF’s net interest income in the third quarter of 2007 was $137.7 million, up $2.7 million, or 2 percent, from the third quarter of 2006, and flat with the second quarter of 2007. Net interest margin in the third quarter of 2007 was 3.90 percent, compared with 4.11 percent for the third quarter of 2006 and 4.02 percent for the second quarter of 2007.

The increase in net interest income from the third quarter of 2006 was primarily attributable to a $996.8 million, or 7.6 percent, increase in average interest-earning assets, largely offset by a 21 basis point reduction in net interest margin. The decrease in the net interest margin from the third quarter of 2006 was primarily due to continued customer preference for lower-yielding fixed-rate loans and higher-cost market-rate deposits largely due to the flat or inverted yield curve that persisted for the period.

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Net interest income increased $279 thousand, or .2 percent, compared with the second quarter of 2007. Increases in total interest-earning assets and the impact of one additional day in the third quarter of 2007 were offset by a 12 basis point decrease in the net interest margin. The decrease in the net interest margin from the second quarter of 2007 was primarily due to a $374.5 million, or 2.7 percent increase in total interest-earning assets that was funded primarily by higher-cost borrowings, increases in the interest rates paid on rate-sensitive checking, savings and money market deposit products and a decline in non-interest bearing checking account balances. During the third quarter of 2007, and partially in response to the volatile credit markets, TCF entered into $700 million of new long-term borrowings at a weighted average interest rate of 4.73 percent. The proceeds from these borrowings were used to eliminate short-term LIBOR-based borrowings and to provide balance sheet liquidity.

Non-interest Income

Total non-interest income was $129.7 million for the third quarter of 2007, flat with the same period of 2006.

Banking fees and service charges were $72 million for the third quarter of 2007, up $1.2 million, or 1.7 percent, from the third quarter of 2006. The third quarter of 2006 included $1.4 million of fees and service charges for the ten Michigan branches that were sold in the first quarter of 2007.

Card revenues totaled $25.7 million for the third quarter of 2007, up $1.3 million, or 5.5 percent, over the same period in 2006 due to increased transactions per account, partially offset by smaller average transaction amounts and a two basis point decrease in the average interchange rate.

Leasing and equipment finance revenues were $15.1 million for the third quarter of 2007, up $1.7 million, or 13 percent, from the 2006 third quarter due to higher sales-type lease revenue, operating lease revenue and other fees.

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Other revenues were $1.8 million for the third quarter of 2007, down $4.9 million from the same period of 2006. The third quarter of 2006 included $4.3 million of gains due to accelerated sales of education loans in response to legislative changes in student loan programs.

Gains on sales of securities available for sale were $2 million for the third quarter of 2007 on sales of $189.3 million of mortgage-backed securities. There were no such sales in the same period last year.

Branches

Number of Branches - 3Q 2007					Table 3
	Total Branches	New Branches (1)		Total Branches		New Branches (1)
Minnesota	108	23	Traditional	192		79
Illinois	201	40	Supermarket	242		47
Michigan	56	25	Campus	15		10
Colorado	45	41		449		136
Wisconsin	33	5
Indiana	5	1
Arizona	1	1
Total Branches	449	136
(1) New branches opened since January 1, 2002.

During the third quarter of 2007, TCF opened three new branches, consisting of one traditional branch, one supermarket branch and one campus branch. TCF also relocated one traditional branch. Since January 2002, TCF has now opened 136 new branches, representing 30.3 percent of TCF’s 449 total branches.

During the remainder of 2007, TCF plans to open six additional branches, consisting of four traditional branches and two supermarket branches. To improve the customer experience and enhance deposit growth, TCF intends to relocate five branches to improved locations and facilities, including four traditional branches and one supermarket branch, and to remodel nine supermarket branches during the last three months of 2007. Also, to improve operating efficiencies, TCF plans to close and consolidate two underperforming traditional branches into nearby branches during the fourth quarter of 2007.

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Additional information regarding the results of TCF’s new branches opened since January 1, 2002 is summarized as follows:

New Branch Information														Table 4
						3Q07 vs 3Q06
($ in thousands)	3Q			3Q						Percent		YTD		YTD			Percent
	2007			2006		Change				Change		2007		2006			Change
Number of deposit accounts	369,135			277,505		91,630				33.	0%
Average deposits:
Checking	$	364,596		$	288,920	$	75,676			26.	2	$	342,958	$	273,321		25.	5%
Savings	377,387			263,942		113,445				43.	0	341,529		251,197			36.	0
Money market	50,675			30,003		20,672				68.	9	44,701		27,052			65.	2
Subtotal	792,658			582,865		209,793				36.	0	729,188		551,570			32.	2
Certificates of deposit	431,585			457,125		(25,540			)	(5.	6)	437,262		393,312			11.	2
Total deposits	$		1,224,243	$	1,039,990	$		184,253		17.	7	$	1,166,450	$	944,882		23.	4
Total fees and other revenue	$		19,715	$	14,765	$		4,950		33.	5	$	53,241	$		40,536	31.	3

Power Assets^®

Average Power Assets											Table 5
							Percent Change
($ in thousands)	3Q		2Q		3Q		3Q07 vs		3Q07 vs		YTD		YTD		Percent
	2007		2007		2006		2Q07		3Q06		2007		2006		Change
Loans and leases: (1)
Consumer home equity:
First mortgage lien	$	3,994,573	$	3,894,939	$	3,606,754	2.	6%	10.	8%	$	3,899,983	$	3,509,190	11.	1%
Junior lien	2,211,680		2,140,773		2,006,413		3.	3	10.	2	2,154,431		1,905,445		13.	1
Total consumer home equity	6,206,253		6,035,712		5,613,167		2.	8	10.	6	6,054,414		5,414,635		11.	8
Consumer other	45,440		41,708		36,978		8.	9	22.	9	43,014		35,563		21.	0
Total consumer	6,251,693		6,077,420		5,650,145		2.	9	10.	6	6,097,428		5,450,198		11.	9
Commercial real estate	2,371,207		2,349,608		2,409,237		0.	9	(1.	6)	2,366,142		2,379,372		(.	6)
Commercial business	566,464		557,134		545,363		1.	7	3.	9	559,287		498,771		12.	1
Total commercial	2,937,671		2,906,742		2,954,600		1.	1	(.	6)	2,925,429		2,878,143		1.	6
Leasing and equipment finance	1,937,269		1,879,958		1,707,045		3.	0	13.	5	1,885,427		1,622,257		16.	2
Total Power Assets	$	11,126,633	$	10,864,120	$	10,311,790	2.	4	7.	9	$	10,908,284	$	9,950,598	9.	6
(1) Excludes residential real estate loans, education loans held for sale and operating lease receivables.

TCF’s average Power Assets increased $814.8 million, or 7.9 percent, from the third quarter of 2006. TCF’s average consumer loan balances increased $601.5 million, or 10.6 percent, and leasing and equipment finance balances increased $230.2 million, or 13.5 percent, from the third quarter of 2006. Average commercial real estate loan balances decreased $38 million, or 1.6 percent, from the third quarter of 2006 primarily due to prepayments.

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Power Liabilities^®

Average Power Liabilities											Table 6
							Percent Change
($ in thousands)	3Q		2Q		3Q		3Q07 vs	3Q07 vs	YTD		YTD		Percent
	2007		2007		2006		2Q07	3Q06	2007		2006		Change
Non-interest bearing deposits:
Retail	$	1,406,155	$	1,492,429	$	1,484,651	(5.8)%	(5.3)%	$	1,476,451	$	1,531,942	(3.6)%
Small business	596,197		586,711		615,119		1.6	(3.1)	593,122		603,469		(1.7)
Commercial and custodial	195,529		199,226		209,365		(1.9)	(6.6)	198,848		241,720		(17.7)
Total non-interest bearing	2,197,881		2,278,366		2,309,135		(3.5)	(4.8)	2,268,421		2,377,131		(4.6)
Interest-bearing deposits:
Premier checking	1,048,449		1,070,397		1,021,560		(2.1)	2.6	1,064,024		987,094		7.8
Other checking	823,833		834,405		840,966		(1.3)	(2.0)	827,580		881,323		(6.1)
Subtotal	1,872,282		1,904,802		1,862,526		(1.7)	.5	1,891,604		1,868,417		1.2
Premier savings	1,202,672		1,109,341		942,760		8.4	27.6	1,127,843		860,191		31.1
Other savings	1,274,164		1,300,857		1,350,659		(2.1)	(5.7)	1,296,350		1,402,085		(7.5)
Subtotal	2,476,836		2,410,198		2,293,419		2.8	8.0	2,424,193		2,262,276		7.2
Money market	606,198		604,217		609,997		.3	(.6)	606,885		629,904		(3.7)
Subtotal	4,955,316		4,919,217		4,765,942		.7	4.0	4,922,682		4,760,597		3.4
Certificates of deposit	2,498,936		2,525,886		2,431,364		(1.1)	2.8	2,512,832		2,230,458		12.7
Total interest-bearing	7,454,252		7,445,103		7,197,306		.1	3.6	7,435,514		6,991,055		6.4
Power Liabilities	$	9,652,133	$	9,723,469	$	9,506,441	(.7)	1.5	$	9,703,935	$	9,368,186	3.6
Average rate on deposits	2.48%		2.40%		2.22%				2.42%		1.99%
# of deposit accounts	2,429,144		2,428,643		2,426,839		—	.1

Average Power Liabilities for the third quarter of 2007 totaled $9.7 billion and had an average interest rate of 2.48 percent. Excluding the Michigan deposits sold in the first quarter of 2007, average Power Liabilities increased $367.2 million, or 4 percent, from the third quarter of 2006. The increase was primarily driven by increases in Premier Checking and Savings and certificates of deposit, partially offset by declines in non-interest bearing deposits.

Average Power Liabilities declined $71.3 million, or ..7 percent, from the second quarter of 2007 primarily due to decreases in checking balances and certificates of deposit, partially offset by increases in savings balances.

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Non-interest Expense

										Table 7
								Percent Change
($ in thousands)	3Q		2Q			3Q		3Q07 vs	3Q07 vs	YTD		YTD		Percent
	2007		2007			2006		2Q07	3Q06	2007		2006		Change
Compensation and employee benefits	$	85,113	$		86,707	$	84,795	(1.8)%	.4%	$	259,913	$	256,046	1.5%
Occupancy and equipment	30,226		29,329			28,664		3.1	5.4	90,006		84,713		6.2
Advertising and promotions	5,480		5,586			8,220		(1.9)	(33.3)	17,047		20,691		(17.6)
Other	37,632		36,531			36,931		3.0	1.9	109,478		111,838		(2.1)
Subtotal	158,451		158,153			158,610		.2	(.1)	476,444		473,288		.7
Operating lease depreciation	4,326		4,381			3,779		(1.3)	14.5	13,067		10,347		26.3
Total non-interest expense	$	162,777	$	162,534		$	162,389	.1	.2	$	489,511	$	483,635	1.2

Non-interest expense (excluding operating lease depreciation) totaled $158.5 million for the third quarter of 2007, down $159 thousand, or .1 percent, from $158.6 million for the third quarter of 2006.

Compensation and employee benefits were well controlled and increased $318 thousand, or .4 percent, from the third quarter of 2006. Increases due to branch expansion were partially offset by reductions from branches sold, closed branches and other efficiency initiatives.

Occupancy and equipment expenses increased $1.6 million, or 5.4 percent, from the third quarter of 2006 primarily due to the costs associated with branch expansion, relocation and remodeling.

Advertising and promotions expense was $5.5 million, down $2.7 million, or 33.3 percent, from the third quarter of 2006 primarily due to decreased media and promotion expenses.

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Credit Quality

Credit Quality Summary															Table 8
													Percent Change
($ in thousands)	3Q				2Q				3Q				3Q07 vs	3Q07 vs	YTD				YTD				Percent
	2007				2007				2006				2Q07	3Q06	2007				2006				Change
Allowance for loan and
lease losses
Balance at beginning of period	$	66,809			$	60,483			$	54,673			10.5%	22.2%	$	58,543			$	55,823			4.9%
Charge-offs	(14,669			)	(10,749			)	(8,250			)	36.5	77.8	(34,650			)	(23,324			)	48.6
Recoveries	3,609				3,746				3,387				(3.7)	6.6	13,871				11,983				15.8
Net charge-offs	(11,060			)	(7,003			)	(4,863			)	57.9	127.4	(20,779			)	(11,341			)	83.2
Provision for credit losses	18,883				13,329				5,288				41.7	N.M.	36,868				10,616				N.M.
Balance at end of period	$	74,632			$	66,809			$	55,098			11.7	35.5	$	74,632			$	55,098			35.5
Allowance as a percentage of:
Period end loans and leases	.63		%		.58		%		.49		%				.63		%		.49		%
Net charge-offs (1)	1.7		X		2.4		X		2.8		X				2.7		X		3.6		X
Net Charge-offs as a Percentage of Average Loans and  Leases (1)
Consumer home equity
First mortgage lien	.27		%		.22		%		.08		%				.21		%		.07		%
Junior lien	.58				.44				.19						.46				.16
Total home equity	.38				.30				.12						.30				.10
Total consumer	.59				.37				.28						.39				.18
Commercial real estate	—				—				.02						.02				.01
Commercial business	.44				.03				(.02		)				.19				.08
Leasing and equipment finance	.24				.29				.17						.12				.27
Residential real estate	.07				.01				.02						.03				.02
Total	.38				.24				.18						.24				.14
Other Credit Quality Data
Delinquencies (30+ days)	$	74,569			$	58,687			$	49,712			27.1	50.0
Delinquencies as a percentage of loan and lease portfolio	.63		%		.51		%		.45		%
Non-accrual loans and leases	$	47,235			$	40,391			$	27,268			16.9	73.2
Real estate owned	43,010				44,813				27,868				(4.0)	54.3
Total non-performing assets	$	90,245			$	85,204			$	55,136			5.9	63.7
Non-performing assets as a percentage of net loans and leases	.76		%		.74		%		.50		%
(1)  Annualized

At September 30, 2007, TCF’s allowance for loan and lease losses totaled $74.6 million, or .63 percent of loans and leases, an increase of $7.8 million from $66.8 million, or .58 percent of loans and leases, at June 30, 2007. The provision for credit losses for the third quarter of 2007 was $18.9 million, up $13.6 million from the third quarter of 2006 primarily due to higher consumer home equity net charge-offs, the

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resulting portfolio reserve rate increases and higher reserves for certain commercial loans and equipment finance loans and leases.

Consumer home equity net charge-offs for the third quarter of 2007 were $5.9 million, an increase of $1.4 million from the second quarter of 2007 and an increase of $4.3 million from the third quarter of 2006.  The higher net charge-offs are primarily due to the slowdown in the residential real estate market, primarily in Minnesota and Michigan.  Net charge-offs in the third quarter of 2007 also increased $2.2 million over the second quarter of 2007 due to seasonally higher net charge-offs related to deposit account overdrafts.

At September 30, 2007, TCF’s over-30-day delinquency rate was .63 percent, up from .51 percent at June 30, 2007 primarily due to consumer home equity loans and leasing and equipment finance. Total non-performing assets were $90.2 million, or .58 percent of total assets, at September 30, 2007, up from $85.2 million, or .57 percent of total assets, at June 30, 2007, primarily due to a $6.8 million increase in non-accrual loans and leases, partially offset by a $1.8 million decrease in real estate owned.

Income Taxes

TCF’s income tax expense was $26.6 million for the third quarter of 2007, or 31 percent of pre-tax income, compared with $30.9 million, or 31.9 percent, for the comparable 2006 period. The third quarter 2007 income tax expense includes a $2.6 million reduction in income tax expense primarily resulting from changes in state tax laws and uncertain tax positions. The income tax expense for the third quarter of 2006 includes a $1.2 million reduction in income tax expense related to favorable developments in uncertain tax positions. Excluding these items, the effective income tax rate was 34 percent for the third quarter of 2007 and 33.1 percent for the third quarter of 2006.

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Capital

Capital Information						Table 9
At period end
($ in thousands, except per-share data)	3Q					4Q
	2007					2006
Stockholders’ equity	$	1,043,447				$	1,033,374
Stockholders’ equity to total assets	6.72		%			7.04		%
Book value per common share	$	8.24				$	7.92
Risk-based capital
Tier 1	$	931,920		8.34	%	$	914,128		8.65	%
Total	1,207,061			10.80		1,173,073			11.10
Total “well-capitalized” requirement	1,117,494			10.00		1,056,694			10.00
Excess over “well-capitalized” requirement	89,567			.80		116,379			1.10

During the third quarter of 2007, TCF repurchased 350 thousand shares of its common stock at an average cost of $24.97 per share. TCF has 5.5 million shares remaining under the stock repurchase program authorized by its Board of Directors.

Website Information

A live webcast of TCF’s conference call to discuss third quarter earnings will be hosted at TCF’s website, www.tcfbank.com, on October 23, 2007 at 10:00 a.m., CT. 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 $15 billion in total assets. TCF has 449 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana and Arizona. Other TCF affiliates provide leasing and equipment finance, and investments and insurance sales.

11

Forward-looking Information

This earnings release and other reports issued by the Company, including reports filed with the SEC, may contain “forward-looking” statements that deal with future results, plans or performance. In addition, TCF’s management may make such statements orally to the media, or to securities analysts, investors or others. Forward-looking statements deal with matters that do not relate strictly to historical facts. TCF’s future results may differ materially from historical performance and forward-looking statements about TCF’s expected financial results or other plans are subject to a number of risks and uncertainties. These include but are not limited to possible legislative changes and adverse economic, business and competitive developments such as shrinking interest margins; deposit outflows; an inability to increase the number of deposit accounts and the possibility that deposit account losses (fraudulent checks, etc.) may increase; impact of legal, legislative or other changes affecting customer account charges and fee income; 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, including adoption of state legislation that would increase state taxes; impact of federal legislation enacted in September 2007 reducing interest subsidies and other benefits available to TCF in its education lending programs; 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 or changes in allowance for loan and lease losses dictated by market conditions or regulatory requirements; 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.

12

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

	Three Months Ended
	September 30				Change
	2007		2006		$				%
Interest income:
Loans and leases	$	213,528	$	199,469	$		14,059		7.0
Securities available for sale	28,439		24,481		3,958				16.2
Education loans held for sale	2,588		3,438		(850			)	(24.7	)
Investments	2,279		862		1,417				164.4
Total interest income	246,834		228,250		18,584				8.1
Interest expense:
Deposits	60,440		53,234		7,206				13.5
Borrowings	48,690		39,983		8,707				21.8
Total interest expense	109,130		93,217		15,913				17.1
Net interest income	137,704		135,033		2,671				2.0
Provision for credit losses	18,883		5,288		13,595				N.M.
Net interest income after provision for credit losses	118,821		129,745		(10,924			)	(8.4	)
Non-interest income:
Fees and service charges	71,965		70,777		1,188				1.7
Card revenue	25,685		24,353		1,332				5.5
ATM revenue	9,251		9,880		(629			)	(6.4	)
Investments and insurance revenue	2,632		3,226		(594			)	(18.4	)
Subtotal	109,533		108,236		1,297				1.2
Leasing and equipment finance	15,110		13,372		1,738				13.0
Other	1,751		6,644		(4,893			)	(73.6	)
Fees and other revenue	126,394		128,252		(1,858			)	(1.4	)
Gains on sales of securities available for sale	2,017		—		2,017				100.0
Gains on sales of branches and real estate	1,246		1,260		(14			)	(1.1	)
Total non-interest income	129,657		129,512		145				.1
Non-interest expense:
Compensation and employee benefits	85,113		84,795		318				.4
Occupancy and equipment	30,226		28,664		1,562				5.4
Advertising and promotions	5,480		8,220		(2,740			)	(33.3	)
Other	37,632		36,931		701				1.9
Subtotal	158,451		158,610		(159			)	(.1	)
Operating lease depreciation	4,326		3,779		547				14.5
Total non-interest expense	162,777		162,389		388				.2
Income before income tax expense	85,701		96,868		(11,167			)	(11.5	)
Income tax expense	26,563		30,941		(4,378			)	(14.1	)
Net income	$	59,138	$	65,927	$	(6,789		)	(10.3	)
Net income per common share:
Basic	$	.48	$	.51	$	(.03		)	(5.9	)
Diluted	.48		.51		(.03			)	(5.9	)
Dividends declared per common share	$	.2425	$	.23	$	.0125			5.4
Average common and common equivalent shares outstanding (in thousands:)
Basic	124,230		128,408		(4,178			)	(3.3	)
Diluted	124,475		128,605		(4,130			)	(3.2	)
N.M. Not Meaningful

13

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

	Nine Months Ended
	September 30,				Change
	2007		2006		$			%
Interest income:
Loans and leases	$	621,871	$	565,440	$	56,431		10.0
Securities available for sale	80,209		73,336		6,873			9.4
Education loans held for sale	10,099		11,990		(1,891		)	(15.8	)
Investments	6,642		2,331		4,311			184.9
Total interest income	718,821		653,097		65,724			10.1
Interest expense:
Deposits	175,837		139,328		36,509			26.2
Borrowings	132,378		112,126		20,252			18.1
Total interest expense	308,215		251,454		56,761			22.6
Net interest income	410,606		401,643		8,963			2.2
Provision for credit losses	36,868		10,616		26,252			N.M.
Net interest income after provision for credit losses	373,738		391,027		(17,289		)	(4.4	)
Non-interest income:
Fees and service charges	205,715		203,431		2,284			1.1
Card revenue	73,822		68,599		5,223			7.6
ATM revenue	27,314		28,741		(1,427		)	(5.0	)
Investments and insurance revenue	7,582		8,608		(1,026		)	(11.9	)
Subtotal	314,433		309,379		5,054			1.6
Leasing and equipment finance	44,310		37,839		6,471			17.1
Other	6,697		19,227		(12,530		)	(65.2	)
Fees and other revenue	365,440		366,445		(1,005		)	(.3	)
Gains on sales of securities available for sale	2,017		—		2,017			100.0
Gains on sales of branches and real estate	35,142		4,188		30,954			N.M.
Total non-interest income	402,599		370,633		31,966			8.6
Non-interest expense:
Compensation and employee benefits	259,913		256,046		3,867			1.5
Occupancy and equipment	90,006		84,713		5,293			6.2
Advertising and promotions	17,047		20,691		(3,644		)	(17.6	)
Other	109,478		111,838		(2,360		)	(2.1	)
Subtotal	476,444		473,288		3,156			.7
Operating lease depreciation	13,067		10,347		2,720			26.3
Total non-interest expense	489,511		483,635		5,876			1.2
Income before income tax expense	286,826		278,025		8,801			3.2
Income tax expense	82,835		86,815		(3,980		)	(4.6	)
Net income	$	203,991	$	191,210	$	12,781		6.7
Net income per common share:
Basic	$	1.62	$	1.48	$	.14		9.5
Diluted	1.62		1.48		.14			9.5
Dividends declared per common share	$	.7275	$	.69	$	.0375		5.4
Average common and common equivalent shares outstanding (in thousands:)
Basic	125,850		129,279		(3,429		)	(2.7	)
Diluted	126,101		129,465		(3,364		)	(2.6	)
N.M. Not Meaningful

14

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

	At			At			At			% Change from
	September 30,			December 31,			September 30,			December 31,		September 30,
	2007			2006			2006			2006		2006
	(Unaudited)						(Unaudited)
ASSETS
Cash and due from banks	$	316,611		$	348,980		$	323,505		(9.3	)%	(2.1	)%
Investments	216,787			170,129			82,801			27.4		161.8
Securities available for sale	2,022,505			1,816,126			1,770,427			11.4		14.2
Education loans held for sale	146,353			144,574			140,240			1.2		4.4
Loans and leases:
Consumer home equity and other	6,386,950			5,945,077			5,799,066			7.4		10.1
Commercial real estate	2,402,949			2,390,653			2,414,058			.5		(.5	)
Commercial business	577,927			551,995			546,106			4.7		5.8
Leasing and equipment finance	1,966,336			1,818,165			1,736,801			8.1		13.2
Subtotal	11,334,162			10,705,890			10,496,031			5.9		8.0
Residential real estate	547,552			627,790			659,477			(12.8	)	(17.0	)
Total loans and leases	11,881,714			11,333,680			11,155,508			4.8		6.5
Allowance for loan and lease losses	(74,632		)	(58,543		)	(55,098		)	(27.5	)	(35.5	)
Net loans and leases	11,807,082			11,275,137			11,100,410			4.7		6.4
Premises and equipment, net	428,959			406,087			393,283			5.6		9.1
Goodwill	152,599			152,599			152,599			—		—
Other assets	439,442			356,102			356,122			23.4		23.4
Total Assets	$	15,530,338		$	14,669,734		$	14,319,387		5.9		8.5
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Checking	$	4,158,150		$	4,348,256		$	4,317,028		(4.4	)	(3.7	)
Savings	2,563,851			2,351,580			2,315,051			9.0		10.7
Money market	590,567			585,779			592,144			.8		(.3	)
Subtotal	7,312,568			7,285,615			7,224,223			.4		1.2
Certificates of deposit	2,433,498			2,483,635			2,454,469			(2.0	)	(.9	)
Total deposits	9,746,066			9,769,250			9,678,692			(.2	)	.7
Short-term borrowings	167,319			214,112			376,397			(21.9	)	(55.5	)
Long-term borrowings	4,266,022			3,374,428			2,976,133			26.4		43.3
Total borrowings	4,433,341			3,588,540			3,352,530			23.5		32.2
Accrued expenses and other liabilities	307,484			278,570			256,976			10.4		19.7
Total liabilities	14,486,891			13,636,360			13,288,198			6.2		9.0
Stockholders’ equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 131,483,460; 131,660,749 and 184,180,118 shares issued	1,315			1,317			1,842			(.2	)	(28.6	)
Additional paid-in capital	353,169			343,744			469,642			2.7		(24.8	)
Retained earnings, subject to certain restrictions	894,657			784,011			1,636,805			14.1		(45.3	)
Accumulated other comprehensive loss	(41,395		)	(34,926		)	(25,857		)	(18.5	)	(60.1	)
Treasury stock at cost, 4,826,730; 1,242,413 and 53,269,813 shares, and other	(164,299		)	(60,772		)	(1,051,243		)	(170.4	)	84.4
Total stockholders’ equity	1,043,447			1,033,374			1,031,189			1.0		1.2
Total liabilities and stockholders’ equity	$	15,530,338		$	14,669,734		$	14,319,387		5.9		8.5

15

TCF FINANCIAL CORPORATION AND SUBSIDIARIES
CREDIT QUALITY DATA
(Dollars in thousands)
(Unaudited)

Allowance for loan and lease losses

	At September 30, 2007				At June 30, 2007				At September 30, 2006				Allowance as % of Portfolio Change from
	Allowance				Allowance				Allowance				Jun. 30,		Sep. 30,
	Balance		% of Portfolio		Balance		% of Portfolio		Balance		% of Portfolio		2007		2006
Consumer home equity	$	24,018	.38	%	$	18,569	.30	%	$	11,294	.20	%	8	bps	18	bps
Consumer other	1,851		2.75		2,055		3.16		2,165		3.58		(41	)	(83	)
Total consumer	25,869		.41		20,624		.33		13,459		.23		8		18
Commercial real estate	25,838		1.08		23,410		.99		22,019		.91		9		17
Commercial business	8,040		1.39		8,471		1.49		7,046		1.29		(10	)	10
Leasing and equipment finance	14,379		.73		13,784		.72		12,021		.69		1		4
Residential real estate	506		.09		520		.09		553		.08		—		1
Total	$	74,632	.63		$	66,809	.58		$	55,098	.49		5		14

Quarterly Net Charge-Offs

	Quarter Ended										Change from
	Sep. 30,		Jun. 30,		Dec. 31,			Sep. 30,			Jun. 30,			Sep. 30,
	2007		2007		2006			2006			2007			2006
Consumer home equity
First mortgage lien	$	2,656	$	2,137	$	1,081		$	685		$	519		$	1,971
Junior lien	3,231		2,364		2,019			930			867			2,301
Total home equity	5,887		4,501		3,100			1,615			1,386			4,272
Consumer other	3,269		1,075		1,611			2,340			2,194			929
Total consumer	9,156		5,576		4,711			3,955			3,580			5,201
Commercial real estate	19		—		(28		)	148			19			(129		)
Commercial business	627		43		168			(23		)	584			650
Leasing and equipment finance	1,164		1,362		1,611			745			(198		)	419
Residential real estate	94		22		166			38			72			56
Total	$	11,060	$	7,003	$	6,628		$	4,863		$	4,057		$	6,197

Quarterly Net Charge-Offs as a Percentage of Average Loans and Lease

	Quarter Ended (1)								Change from
	Sep. 30,		Jun. 30,		Dec. 31,		Sep. 30,		Jun. 30,		Sep. 30,
	2007		2007		2006		2006		2007		2006
Consumer home equity
First mortgage lien	.27	%	.22	%	.12	%	.08	%	5	bps	19	bps
Junior lien	.58		.44		.39		.19		14		39
Total home equity	.38		.30		.21		.12		8		26
Total consumer	.59		.37		.32		.28		22		31
Commercial real estate	—		—		—		.02		—		(2	)
Commercial business	.44		.03		.13		(.02	)	41		46
Leasing and equipment finance	.24		.29		.36		.17		(5	)	7
Residential real estate	.07		.01		.10		.02		6		5
Total	.38		.24		.24		.18		14		20

Non-performing assets

														Change from
	At Sep. 30,			At Jun. 30,				At Dec. 31,			At Sep. 30,			Jun. 30,			Sep. 30,
	2007			2007				2006			2006			2007			2006
Non-accrual loans and leases:
Consumer home equity
First mortgage lien	$	13,794		$		11,309		$	11,202		$	8,857		$	2,485		$	4,937
Junior lien	4,610			4,563				5,291			3,418			47			1,192
Total home equity	18,404			15,872				16,493			12,275			2,532			6,129
Consumer other	11			29				27			88			(18		)	(77		)
Total consumer	18,415			15,901				16,520			12,363			2,514			6,052
Commercial real estate	13,824			11,746				12,849			5,226			2,078			8,598
Commercial business	2,686			3,337				3,421			1,337			(651		)	1,349
Leasing and equipment finance	9,177			6,886				7,596			6,133			2,291			3,044
Residential real estate	3,133			2,521				2,799			2,209			612			924
Total non-accrual loans and leases	47,235			40,391				43,185			27,268			6,844			19,967
Other real estate owned:
Residential real estate	28,444			30,111				19,899			20,712			(1,667		)	7,732
Commercial real estate	14,566			14,702				2,554			7,156			(136		)	7,410
Total other real estate owned	43,010			44,813				22,453			27,868			(1,803		)	15,142
Total non-performing assets	$	90,245		$	85,204			$	65,638		$	55,136		$	5,041		$	35,109
Non-performing assets as a percentage of net loans and leases	.76		%	.74			%	.58		%	.50		%	2		bps	26		bps
(1) Annualized.

16

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Over 30-day delinquency data - principal balances (1)

	At			At		At		At		Change from
	Sep. 30,			Jun. 30,		Dec. 31,		Sep. 30,		Jun. 30,			Sep. 30,
	2007			2007		2006		2006		2007			2006
Consumer home equity
First mortgage lien	$		27,957	$	19,288	$	22,527	$	16,353	$	8,669		$	11,604
Junior lien	11,185			8,709		11,406		8,873		2,476			2,312
Total home equity	39,142			27,997		33,933		25,226		11,145			13,916
Consumer other	416			272		380		582		144			(166		)
Total consumer	39,558			28,269		34,313		25,808		11,289			13,750
Commercial real estate	7,140			10,739		18,072		4,697		(3,599		)	2,443
Commercial business	2,653			183		762		340		2,470			2,313
Leasing and equipment finance	15,651			11,016		8,499		8,849		4,635			6,802
Residential real estate	9,567			8,480		10,047		10,018		1,087			(451		)
Total	$	74,569		$	58,687	$	71,693	$	49,712	$	15,882		$	24,857

Over 30-day delinquency data - % of portfolio (1)

	At			At			At			At			Change from
	Sep. 30,			Jun. 30,			Dec. 31,			Sep. 30,			Jun. 30,			Sep. 30,
	2007			2007			2006			2006			2007			2006
Consumer home equity
First mortgage lien	.69		%	.50		%	.60		%	.45		%	19		%	24		%
Junior lien	.50			.40			.54			.43			10			7
Total home equity	.62			.46			.58			.45			16			17
Consumer other	.62			.42			.61			1.38			20			(76		)
Total consumer	.62			.46			.58			.45			16			17
Commercial real estate	.30			.46			.76			.19			(16		)	11
Commercial business	.46			.03			.14			.06			43			40
Leasing and equipment finance	.80			.58			.47			.51			22			29
Residential real estate	1.76			1.49			1.61			1.52			27			24
Total	.63			.51			.63			.45			12			18
Accruing loans and leases 90 or more past due	$	13,887		$	20,754		$	12,214		$	9,243		$	(6,867	)	$	4,644

Potential Problem Loans and Leases (2)

	At			At			At			At			Change from
	Sep. 30,			Jun. 30,			Dec. 31,			Sep. 30,			Jun. 30,			Sep. 30,
	2007			2007			2006			2006			2007			2006
Commercial real estate	$		42,277	$	35,956		$	43,216		$	25,878		$	6,321		$	16,399
Commercial business	8,764			8,557			11,664			12,493			207			(3,729			)
Leasing and equipment finance	14,109			12,022			11,265			11,707			2,087			2,402
	$	65,150		$		56,535	$		66,145	$		50,078	$		8,615	$		15,072

(1)	Excludes non-accrual loans and leases.
(2)	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.

17

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Three Months Ended September 30,
	2007												2006
	Average								Yields and				Average								Yields and
	Balance				Interest				Rates (1)				Balance				Interest				Rates (1)
ASSETS
Investments	$		203,406		$		2,279		4.45		%		$		72,393		$			862	4.74	%
Securities available for sale	2,078,155				28,439				5.47				1,829,917				24,481				5.35
Education loans held for sale	110,449				2,588				9.30				190,724				3,438				7.15
Loans and leases:
Consumer home equity:
Fixed-rate	4,750,552				83,735				6.99				4,027,680				69,705				6.87
Variable-rate	1,455,701				31,795				8.67				1,585,487				35,605				8.91
Consumer - other	45,440				1,115				9.74				36,978				961				10.31
Total consumer home equity and other	6,251,693				116,645				7.40				5,650,145				106,271				7.46
Commercial real estate:
Fixed- and adjustable-rate	1,786,829				29,026				6.44				1,699,431				26,936				6.29
Variable-rate	584,378				11,583				7.86				709,806				14,256				7.97
Total commercial real estate	2,371,207				40,609				6.79				2,409,237				41,192				6.78
Commercial business:
Fixed- and adjustable-rate	170,593				2,718				6.32				142,293				2,265				6.32
Variable-rate	395,871				7,498				7.51				403,070				7,724				7.60
Total commercial business	566,464				10,216				7.16				545,363				9,989				7.27
Leasing and equipment finance	1,937,269				37,974				7.84				1,707,045				32,174				7.54
Subtotal	11,126,633				205,444				7.34				10,311,790				189,626				7.31
Residential real estate	559,413				8,084				5.77				676,454				9,843				5.81
Total loans and leases	11,686,046				213,528				7.26				10,988,244				199,469				7.21
Total interest-earning assets	14,078,056				246,834				6.97				13,081,278				228,250				6.94
Other assets	1,147,109												1,129,568
Total assets	$		15,225,165										$		14,210,846
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail		$		1,406,155										$		1,484,651
Small business		596,197												615,119
Commercial and custodial		195,529												209,365
Total non-interest bearing deposits		2,197,881												2,309,135
Interest-bearing deposits:
Premier checking		1,048,449				8,047				3.05				1,021,560				8,389			3.26
Other checking		823,833				901				.43				840,966				485			.23
Subtotal		1,872,282				8,948				1.90				1,862,526				8,874			1.89
Premier savings		1,202,672				13,184				4.35				942,760				10,291			4.33
Other savings		1,274,164				4,139				1.29				1,350,659				3,240			.96
Subtotal		2,476,836				17,323				2.77				2,293,419				13,531			2.34
Money market		606,198				4,618				3.02				609,997				4,062			2.64
Subtotal		4,955,316				30,889				2.48				4,765,942				26,467			2.21
Certificates of deposit		2,498,936				29,551				4.68				2,431,364				26,767			4.36
Total interest-bearing deposits		7,454,252				60,440				3.22				7,197,306				53,234			2.93
Total deposits		9,652,133				60,440				2.48				9,506,441				53,234			2.22
Borrowings:
Short-term borrowings		183,582				2,460				5.32				619,683				8,372			5.36
Long-term borrowings		4,043,570				46,230				4.54				2,780,532				31,611			4.51
Total borrowings		4,227,152				48,690				4.57				3,400,215				39,983			4.67
Total deposits and borrowings		13,879,285				109,130				3.12				12,906,656				93,217			2.86
Other liabilities		334,630												306,971
Total liabilities		14,213,915												13,213,627
Stockholders’ equity		1,011,250												997,219
Total liabilities and stockholders’ equity		$		15,225,165										$		14,210,846
Net interest income and margin						$		137,704		3.90		%						$	135,033		4.11	%
(1) Annualized

18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Nine Months Ended September 30,
	2007									2006
	Average					Yields and				Average						Yields and
	Balance		Interest			Rates (1)				Balance			Interest			Rates (1)
ASSETS
Investments	$	188,444	$		6,642	4.71		%		$		70,748	$		2,331	4.40	%
Securities available for sale	1,969,799		80,209			5.43				1,830,902			73,336			5.34
Education loans held for sale	154,978		10,099			8.71				233,135			11,990			6.88
Loans and leases:
Consumer home equity:
Fixed-rate	4,614,472		240,538			6.97				3,702,181			188,288			6.80
Variable-rate	1,439,942		94,384			8.76				1,712,454			109,940			8.58
Consumer - other	43,014		3,193			9.92				35,563			2,675			10.06
Total consumer home equity and other	6,097,428		338,115			7.41				5,450,198			300,903			7.38
Commercial real estate:
Fixed- and adjustable-rate	1,756,917		84,298			6.42				1,647,602			76,869			6.24
Variable-rate	609,225		35,549			7.80				731,770			41,478			7.58
Total commercial real estate	2,366,142		119,847			6.77				2,379,372			118,347			6.65
Commercial business:
Fixed- and adjustable-rate	166,490		7,999			6.42				128,677			5,983			6.22
Variable-rate	392,797		22,062			7.51				370,094			20,299			7.33
Total commercial business	559,287		30,061			7.19				498,771			26,282			7.05
Leasing and equipment finance	1,885,427		108,290			7.66				1,622,257			88,830			7.30
Subtotal	10,908,284		596,313			7.31				9,950,598			534,362			7.18
Residential real estate	587,058		25,558			5.81				713,947			31,078			5.81
Total loans and leases	11,495,342		621,871			7.23				10,664,545			565,440			7.08
Total interest-earning assets	13,808,563		718,821			6.95				12,799,330			653,097			6.82
Other assets	1,148,528									1,135,551
Total assets	$	14,957,091							$		13,934,881
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,476,451							$		1,531,942
Small business	593,122								603,469
Commercial and custodial	198,848								241,720
Total non-interest bearing deposits	2,268,421								2,377,131
Interest-bearing deposits:
Premier checking	1,064,024			24,196			3.04		987,094					23,343		3.16
Other checking	827,580			2,164			.35		881,323					1,553		.24
Subtotal	1,891,604			26,360			1.86		1,868,417					24,896		1.78
Premier savings	1,127,843			36,175			4.29		860,191					26,202		4.07
Other savings	1,296,350			11,466			1.18		1,402,085					9,324		.89
Subtotal	2,424,193			47,641			2.63		2,262,276					35,526		2.10
Money market	606,885			13,322			2.93		629,904					11,037		2.34
Subtotal	4,922,682			87,323			2.38		4,760,597					71,459		2.01
Certificates of deposit	2,512,832			88,514			4.70		2,230,458					67,869		4.06
Total interest-bearing deposits	7,435,514			175,837			3.16		6,991,055					139,328		2.66
Total deposits	9,703,935			175,837			2.42		9,368,186					139,328		1.99
Borrowings:
Short-term borrowings	156,243			6,185			5.29		622,455					23,015		4.94
Long-term borrowings	3,738,123			126,193			4.51		2,656,410					89,111		4.48
Total borrowings	3,894,366			132,378			4.54		3,278,865					112,126		4.57
Total deposits and borrowings	13,598,301			308,215			3.03		12,647,051					251,454		2.66
Other liabilities	335,389								308,947
Total liabilities	13,933,690								12,955,998
Stockholders’ equity	1,023,401								978,883
Total liabilities and
stockholders’ equity	$	14,957,091							$		13,934,881
Net interest income and margin				$	410,606		3.97	%						$	401,643	4.19	%
(1) Annualized

19

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
	Sep. 30,			Jun. 30,				Mar. 31,				Dec. 31,				Sep. 30,
	2007			2007				2007				2006				2006
Interest income:
Loans and leases	$	213,528		$	206,738			$	201,605			$	204,150			$		199,469
Securities available for sale	28,439			26,665				25,105				24,699				24,481
Education loans held for sale	2,588			3,365				4,146				3,019				3,438
Investments	2,279			1,557				2,806				1,173				862
Total interest income	246,834			238,325				233,662				233,041				228,250
Interest expense:
Deposits	60,440			58,242				57,155				55,996				53,234
Borrowings	48,690			42,658				41,030				41,158				39,983
Total interest expense	109,130			100,900				98,185				97,154				93,217
Net interest income	137,704			137,425				135,477				135,887				135,033
Provision for credit losses	18,883			13,329				4,656				10,073				5,288
Net interest income after provision for credit losses	118,821			124,096				130,821				125,814				129,745
Non-interest income:
Fees and service charges	71,965			71,728				62,022				66,735				70,777
Card revenue	25,685			24,876				23,261				23,485				24,353
ATM revenue	9,251			9,314				8,749				9,019				9,880
Investments and insurance revenue	2,632			2,772				2,178				2,087				3,226
Subtotal	109,533			108,690				96,210				101,326				108,236
Leasing and equipment finance	15,110			15,199				14,001				15,165				13,372
Other	1,751			2,993				1,953				2,340				6,644
Fees and other revenue	126,394			126,882				112,164				118,831				128,252
Gains on sales of securities available for sale	2,017			—				—				—				—
Gains on sales of branches and real estate	1,246			2,723				31,173				—				1,260
Total non-interest income	129,657			129,605				143,337				118,831				129,512
Non-interest expense:
Compensation and employee benefits	85,113			86,707				88,093				85,811				84,795
Occupancy and equipment	30,226			29,329				30,451				29,905				28,664
Advertising and promotions	5,480			5,586				5,981				6,235				8,220
Other	37,632			36,531				35,315				39,611				36,931
Subtotal	158,451			158,153				159,840				161,562				158,610
Operating lease depreciation	4,326			4,381				4,360				4,000				3,779
Total non-interest expense	162,777			162,534				164,200				165,562				162,389
Income before income tax expense	85,701			91,167				109,958				79,083				96,868
Income tax expense	26,563			29,038				27,234				25,350				30,941
Net income	$	59,138		$		62,129		$		82,724		$	53,733			$	65,927
Net income per common share:
Basic	$	.48		$		.49		$		.65		$		.42		$	.51
Diluted	.48			.49				.65				.42				.51
Dividends declared per common share	$	.2425		$		.2425		$		.2425		$		.23		$		.23
Financial Ratios:
Return on average assets (1)	1.55		%	1.67			%	2.24			%	1.49			%	1.86			%
Return on average common equity (1)	23.39			24.16				31.81				20.68				26.44
Net interest margin (1)	3.90			4.02				4.00				4.07				4.11
Net charge-offs as a percentage of average loans and leases (1)	.38			.24				.10				.24				.18
Average total equity to average assets	6.64			6.92				7.03				7.20				7.02
(1) Annualized

20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)

	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
	2007			2007			2007			2006			2006
ASSETS
Cash and due from banks	$	309,596		$	297,231		$	309,741		$	316,389		$	322,484
Investments	203,406			130,977			231,256			101,548			72,393
Securities available for sale	2,078,155			1,967,524			1,861,335			1,840,649			1,829,917
Education loans held for sale	110,449			153,566			201,924			145,283			190,724
Loans and leases:
Consumer home equity:
Fixed-rate	4,750,552			4,614,322			4,475,520			4,293,070			4,027,680
Variable-rate	1,455,701			1,421,390			1,442,593			1,502,537			1,585,487
Consumer - other	45,440			41,708			41,853			40,119			36,978
Total consumer home equity and other	6,251,693			6,077,420			5,959,966			5,835,726			5,650,145
Commercial real estate:
Fixed- and adjustable-rate	1,786,829			1,750,690			1,732,636			1,718,735			1,699,431
Variable-rate	584,378			598,918			645,047			692,497			709,806
Total commercial real estate	2,371,207			2,349,608			2,377,683			2,411,232			2,409,237
Commercial business:
Fixed- and adjustable-rate	170,593			165,780			163,014			152,018			142,293
Variable-rate	395,871			391,354			391,113			384,360			403,070
Total commercial business	566,464			557,134			554,127			536,378			545,363
Leasing and equipment finance	1,937,269			1,879,958			1,837,964			1,771,231			1,707,045
Subtotal	11,126,633			10,864,120			10,729,740			10,554,567			10,311,790
Residential real estate	559,413			587,400			614,970			643,087			676,454
Total loans and leases	11,686,046			11,451,520			11,344,710			11,197,654			10,988,244
Allowance for loan and lease losses	(68,564		)	(61,934		)	(58,714		)	(56,440		)	(55,079		)
Net loans and leases	11,617,482			11,389,586			11,285,996			11,141,214			10,933,165
Premises and equipment	427,632			420,967			414,041			400,812			388,099
Goodwill	152,599			152,599			152,599			152,599			152,599
Other assets	325,846			339,170			344,594			347,516			321,465
	$	15,225,165		$	14,851,620		$	14,801,486		$	14,446,010		$	14,210,846
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest-bearing deposits:
Retail	$	1,406,155		$	1,492,429		$	1,532,150		$	1,457,265		$	1,484,651
Small business	596,197			586,711			596,460			629,011			615,119
Commercial and custodial	195,529			199,226			201,860			206,034			209,365
Total non-interest bearing deposits	2,197,881			2,278,366			2,330,470			2,292,310			2,309,135
Interest-bearing deposits:
Premier checking	1,048,449			1,070,397			1,073,500			1,042,361			1,021,560
Other checking	823,833			834,405			824,512			813,851			840,966
Subtotal	1,872,282			1,904,802			1,898,012			1,856,212			1,862,526
Premier savings	1,202,672			1,109,341			1,070,059			1,014,427			942,760
Other savings	1,274,164			1,300,857			1,314,471			1,299,319			1,350,659
Subtotal	2,476,836			2,410,198			2,384,530			2,313,746			2,293,419
Money market	606,198			604,217			610,286			593,961			609,997
Subtotal	4,955,316			4,919,217			4,892,828			4,763,919			4,765,942
Certificates of deposit	2,498,936			2,525,886			2,513,838			2,470,659			2,431,364
Total interest-bearing deposits	7,454,252			7,445,103			7,406,666			7,234,578			7,197,306
Total deposits	9,652,133			9,723,469			9,737,136			9,526,888			9,506,441
Borrowings:
Short-term borrowings	183,582			196,169			87,928			520,883			619,683
Long-term borrowings	4,043,570			3,566,883			3,599,032			3,039,011			2,780,532
Total borrowings	4,227,152			3,763,052			3,686,960			3,559,894			3,400,215
Accrued expenses and other liabilities	334,630			336,676			337,178			319,740			306,971
Total liabilities	14,213,915			13,823,197			13,761,274			13,406,522			13,213,627
Stockholders’ equity:
Common stock	1,315			1,315			1,316			1,534			1,842
Additional paid-in capital	351,905			351,312			344,685			395,237			468,271
Retained earnings	871,691			841,757			795,884			1,129,892			1,611,335
Accumulated other comprehensive loss	(52,355		)	(42,754		)	(34,939		)	(23,804		)	(37,225		)
Treasury stock at cost and other	(161,306		)	(123,207		)	(66,734		)	(463,371		)	(1,047,004		)
	1,011,250			1,028,423			1,040,212			1,039,488			997,219
	$	15,225,165		$	14,851,620		$	14,801,486		$	14,446,010		$	14,210,846
Supplemental Information:
Securities available for sale	$	2,078,155		$	1,967,524		$	1,861,335		$	1,840,649		$	1,829,917
Residential real estate loans	559,413			587,400			614,970			643,087			676,454
Total securities available for sale and residential real estate loans	$	2,637,568		$	2,554,924		$	2,476,305		$	2,483,736		$	2,506,371

21

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Sep. 30,		Jun. 30,		Mar. 31,		Dec. 31,		Sep. 30,
	2007		2007		2007		2006		2006
ASSETS
Investments	4.45	%	4.77	%	4.91	%	4.59	%	4.74	%
Securities available for sale	5.47		5.42		5.40		5.37		5.35
Education loans held for sale	9.30		8.79		8.33		8.24		7.15
Loans and leases:
Consumer home equity:
Fixed-rate	6.99		6.97		6.95		6.92		6.87
Variable-rate	8.67		8.80		8.83		8.88		8.91
Consumer - other	9.74		10.16		9.89		10.30		10.31
Total consumer home equity and other	7.40		7.42		7.42		7.45		7.46
Commercial real estate:
Fixed- and adjustable-rate	6.44		6.42		6.38		6.51		6.29
Variable-rate	7.86		7.83		7.72		7.88		7.97
Total commercial real estate	6.79		6.78		6.74		6.91		6.78
Commercial business:
Fixed- and adjustable-rate	6.32		6.47		6.48		6.49		6.32
Variable-rate	7.51		7.50		7.51		7.56		7.60
Total commercial business	7.16		7.19		7.21		7.25		7.27
Leasing and equipment finance	7.84		7.67		7.45		7.56		7.54
Subtotal	7.34		7.31		7.27		7.33		7.31
Residential real estate	5.77		5.85		5.79		5.81		5.81
Total loans and leases	7.26		7.24		7.19		7.25		7.21
Total interest-earning assets	6.97		6.97		6.92		6.98		6.94
LIABILITIES
Interest-bearing deposits:
Premier checking	3.05		2.98		3.10		3.12		3.26
Other checking	.43		.35		.26		.23		.23
Subtotal	1.90		1.83		1.87		1.85		1.89
Premier savings	4.35		4.22		4.29		4.33		4.33
Other savings	1.29		1.15		1.11		1.06		.96
Subtotal	2.77		2.56		2.54		2.49		2.34
Money market	3.02		2.89		2.89		2.79		2.64
Subtotal	2.48		2.32		2.32		2.28		2.21
Certificates of deposit	4.68		4.73		4.70		4.59		4.36
Total interest-bearing deposits	3.22		3.14		3.13		3.07		2.93
Total deposits	2.48		2.40		2.38		2.33		2.22
Borrowings:
Short-term borrowings	5.32		5.22		5.41		5.35		5.36
Long-term borrowings	4.54		4.51		4.49		4.46		4.51
Total borrowings	4.57		4.55		4.51		4.59		4.67
Total interest-bearing liabilities	3.12		3.00		2.96		2.94		2.86
Net interest margin	3.90	%	4.02	%	4.00	%	4.07	%	4.11	%
(1) Annualized

22