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 Record 2007 Earnings and EPS ($2.12, up 11.6 percent)

2007 YEAR END HIGHLIGHTS

·Record diluted earnings per share of $2.12, up 11.6 percent

·Record net income of $266.8 million, up 8.9 percent

·Return on average assets of 1.76 percent

·Return on average common equity of 25.82 percent

·Quarterly dividend increased 3.1 percent to 25 cents per share

·Average Power Assets Ò increased by $950.2 million, or 9.4 percent

·Opened 20 branches

EARNINGS SUMMARY																				Table 1
($ in thousands, except per-share data)										Percent Change
	4Q			3Q			4Q			4Q07 vs		4Q07 vs								Percent
	2007			2007			2006			3Q07		4Q06		2007			2006			Change
Net income	$	62,817		$	59,138		$	53,733		6.2	%	16.9	%	$	266,808		$	244,943		8.9	%
Diluted earnings per common share	.50			.48			.42			4.2		19.0		2.12			1.90			11.6
Financial Ratios (1)
Return on average assets	1.60		%	1.55		%	1.49		%					1.76		%	1.74		%
Return on average common equity	23.55			23.39			20.68							25.82			24.37
Net interest margin	3.83			3.90			4.07							3.94			4.16
Net charge-offs as a percentage of average loans and leases	.46			.38			.24							.30			.17
(1)   Annualized

WAYZATA, MN, January 23, 2008 – TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported diluted earnings per share of $2.12 for 2007, up 11.6 percent from $1.90 in 2006. Net income for 2007 was $266.8 million, compared with $244.9 million for 2006. Net income for 2007 included a $31.2 million pre-tax gain on the sale of 10 out-state Michigan branches, $6.7 million in pre-tax gains on sales of real estate, $13.3 million in pre-tax gains on sales of securities, a $7.7 million pre-tax charge for TCF’s estimated contingent obligation related to Visa U.S.A. Inc. litigation indemnification and $18.4 million of favorable income tax settlements and adjustments for a combined after-tax impact of 37 cents per diluted share. Net income for 2006 included $4.2 million in pre-tax gains on sales of real estate, a $1.6 million net pre-tax gain on the sale of mortgage servicing rights and a $6.1 million reduction of income tax expense for a combined after-tax impact of eight cents per diluted share.

Return on average assets (“ROA”) was 1.76 percent and return on average common equity (“ROE”) was 25.82 percent for 2007, compared with 1.74 percent and 24.37 percent, respectively, for 2006.

Diluted earnings per share was 50 cents for the 2007 fourth quarter, compared with 42 cents for the same 2006 period, an increase of 19 percent. The fourth quarter of 2007 net income included $11.3 million in pre-tax gains on sales of securities, $2.8 million of pre-tax gains on sales of real estate, a $7.7 million pre-tax charge for TCF’s estimated contingent obligation related to Visa U.S.A. Inc. litigation indemnification and $5.4 million of favorable income tax adjustments for a combined after-tax impact of seven cents per diluted share. Net income for the fourth quarter of 2006 included an $851 thousand reduction in income tax expense for an after-tax impact of one cent per diluted share.

Dividend Increase

TCF’s Board of Directors announced, for the seventeenth consecutive year, an increase in the regular quarterly dividend to 25 cents per common share, effective for the first quarter of 2008. This represents a 3.1 percent increase over the 2007 quarterly dividend of 24.25 cents per common share. The dividend is payable on February 29, 2008 to common stockholders of record at the close of business on February 1, 2008. TCF’s 10-year compounded dividend growth rate is the ninth highest among the 50 largest banks in the country.

2

Chief Executive Officer’s Statement

“TCF earned a record $2.12 per share in 2007, despite operating in a difficult interest rate and economic environment, which included the impact of a significant slowdown in the housing market,” said Lynn A. Nagorske, CEO, TCF Financial Corporation. “Consistent with TCF’s philosophy of banking, we did not participate in any subprime teaser rate lending programs, collateralized debt obligations or structured investment vehicles which have caused other financial institutions to report large losses.”

Total Revenue																				Table 2
										Percent Change
($ in thousands)	4Q			3Q			4Q			4Q07 vs		4Q07 vs								Percent
	2007			2007			2006			3Q07		4Q06		2007			2006			Change
Net interest income	$	139,571		$	137,704		$	135,887		1.4	%	2.7	%	$	550,177		$	537,530		2.4	%
Fees and other revenue:
Fees and service charges	72,331			71,965			66,735			.5		8.4		278,046			270,166			2.9
Card revenue	25,058			25,685			23,485			(2.4	)	6.7		98,880			92,084			7.4
ATM revenue	8,306			9,251			9,019			(10.2	)	(7.9	)	35,620			37,760			(5.7	)
Investments and insurance	2,736			2,632			2,087			4.0		31.1		10,318			10,695			(3.5	)
Total banking fees	108,431			109,533			101,326			(1.0	)	7.0		422,864			410,705			3.0
Leasing and equipment finance	14,841			15,110			15,165			(1.8	)	(2.1	)	59,151			53,004			11.6
Other	1,573			1,751			2,340			(10.2	)	(32.8	)	8,270			21,567			(61.7	)
Total fees and other revenue	124,845			126,394			118,831			(1.2	)	5.1		490,285			485,276			1.0
Gains on sales of securities available for sale	11,261			2,017			—			N.M.		100.0		13,278			—			100.0
Gains on sales of branches and real estate	2,752			1,246			—			120.9		100.0		37,894			4,188			N.M	.
Total non-interest income	138,858			129,657			118,831			7.1		16.9		541,457			489,464			10.6
Total revenue	$	278,429		$	267,361		$	254,718		4.1		9.3		$	1,091,634		$	1,026,994		6.3
Net interest margin (1)	3.83		%	3.90		%	4.07		%					3.94		%	4.16		%
Fees and other revenue as a % of:
Total revenue	44.84			47.27			46.65							44.91			47.25
Average assets (1)	3.18			3.32			3.29							3.24			3.45
N.M. = Not Meaningful
(1)  Annualized

3

Net Interest Income

TCF’s net interest income in 2007 was $550.2 million, up $12.6 million, or 2.4 percent, from 2006. Net interest margin in 2007 was 3.94 percent, compared with 4.16 percent for 2006. The increase in net interest income from 2006 was primarily attributable to a $1.1 billion, or 8.2 percent, increase in average interest-earning assets, partially offset by a 22 basis point reduction in net interest margin.

Net interest income for the fourth quarter of 2007 increased $3.7 million, or 2.7 percent, compared with the fourth quarter of 2006. Net interest margin in the fourth quarter of 2007 was 3.83 percent, compared with 4.07 percent last year and 3.90 percent in the third quarter of 2007.

The decrease in net interest margin from last year is primarily due to partially funding the growth in interest earning assets with borrowings and higher-cost deposits and continued customer preference for lower yielding fixed-rate loans. The decrease in net interest margin from the fourth quarter of 2006 is primarily due to partially funding the growth in interest earning assets with borrowings and higher cost deposits, continued customer preference for lower yielding fixed-rate loans and the net impact of interest rate changes on variable-rate assets and liabilities, partially offset by increased interest rates on higher balances of fixed-rate assets.

Non-interest Income

Total non-interest income was $541.5 million for 2007, up $52 million, or 10.6 percent, from 2006. Banking fees and service charges were $278 million for 2007, up $7.9 million, or 2.9 percent, from 2006 primarily due to higher activity in deposit service fees. Fees and service charges in 2006 included $5.3 million of fees from the Michigan branches that were sold in the first quarter of 2007. Card revenues totaled $98.9 million for 2007, up $6.8 million, or 7.4 percent, from 2006 due to increased sales volume as a result of increases in the number of active accounts and customer transaction volumes. ATM revenue was $35.6 million, down $2.1 million, or 5.7 percent, from 2006 due to continued declines in fees charged to TCF customers for use of non-TCF ATM machines caused by growth in TCF’s fee free checking products and changes in customer ATM usage behavior. Leasing and equipment finance revenues were $59.2 million for

4

2007, up $6.1 million, or 11.6 percent, from 2006, due to higher operating lease revenue, sales-type lease revenue and other fees. Average operating lease balances were $73.4 million in 2007, an increase of $6.6 million, or 9.9 percent over average operating lease balances of $66.7 million in 2006. Other revenues were $8.3 million for 2007, down $13.3 million from 2006, primarily due to a $5.2 million decrease in gains on sales of education loans and no mortgage banking revenue in 2007 compared with mortgage banking revenue of $4.7 million in 2006. Gains on sales of securities available for sale were $13.3 million in 2007 on sales of $1.2 billion of mortgage-backed securities. There were no such sales or gains in 2006.

Total non-interest income in the fourth quarter of 2007 was $138.9 million, up $20 million, or 16.9 percent, from the fourth quarter of 2006. Fees and service charges were $72.3 million, up $5.6 million, or 8.4 percent, from the fourth quarter of 2006 primarily due to higher deposit service fees. Card revenues totaled $25.1 million for the fourth quarter of 2007, up $1.6 million, or 6.7 percent, over the same period in 2006. ATM revenue was $8.3 million, down $713 thousand, or 7.9 percent, from the fourth quarter of 2006.

Branches

Number of Branches					Table 3
At period end
	Total	New		Total	New
	Branches	Branches (1)		Branches	Branches (1)
Minnesota	109	24	Traditional	194	83
Illinois	202	40	Supermarket	244	48
Michigan	56	25	Campus	15	10
Colorado	46	42		453	141
Wisconsin	31	5
Indiana	5	1
Arizona	4	4
Total Branches	453	141
(1) New branches opened since January 1, 2002.

5

TCF opened 20 branches during 2007, including 10 traditional branches, seven supermarket branches and three campus branches, and relocated six traditional branches. TCF also closed and consolidated four traditional branches and six supermarket branches and sold 10 Michigan branches, including the related deposit accounts. Since January 2002, TCF has opened 141 new branches, representing 31.1 percent of TCF’s 453 total branches. During the fourth quarter of 2007, TCF opened four traditional branches and two supermarket branches, and relocated four traditional branches. TCF also closed and consolidated two traditional branches into nearby branches to improve operating efficiencies.

In 2008, TCF intends to focus on optimizing existing branches in target market areas to improve convenience and service to customers and enhance branch performance, and plans to remodel 19 supermarket branches and one campus branch, and to relocate two traditional branches and one supermarket branch. TCF also plans to open 10 new branches in 2008, consisting of five traditional branches and five supermarket branches, and to close and consolidate three traditional branches into nearby branches. Additional information regarding the results of TCF’s new branches opened since January 1, 2002 is summarized as follows:

New Branch Information														Table 4
					4Q07 vs 4Q06
($ in thousands)	4Q		4Q					Percent						Percent
	2007		2006		Change			Change		2007		2006		Change
Number of deposit accounts	384,062		289,459		94,603			32.7	%
Average deposits:
Checking	$	369,148	$	302,317	$	66,831		22.1		$	347,865	$	280,630	24.0	%
Savings	418,087		287,461		130,626			45.4		359,593		260,337		38.1
Money market	54,029		35,422		18,607			52.5		46,949		29,162		61.0
Subtotal	841,264		625,200		216,064			34.6		754,407		570,129		32.3
Certificates of deposit	366,218		431,488		(65,270		)	(15.1	)	413,777		402,935		2.7
Total deposits	$	1,207,482	$	1,056,688	$	150,794		14.3		$	1,168,184	$	973,064	20.1
Total fees and other revenue	$	20,179	$	14,250	$	5,929		41.6		$	73,204	$	54,786	33.6

6

Power Assets^®

Average Power Assets															Table 5
							Percent Change
($ in thousands)	4Q		3Q		4Q		4Q07 vs		4Q07 vs						Percent
	2007		2007		2006		3Q07		4Q06		2007		2006		Change
Loans and leases: (1)
Consumer home equity:
First mortgage lien	$	4,112,086	$	3,994,573	$	3,718,402	2.9	%	10.6	%	$	3,953,442	$	3,561,922	11.0	%
Junior lien	2,299,461		2,211,680		2,077,205		4.0		10.7		2,190,988		1,948,739		12.4
Total consumer home equity	6,411,547		6,206,253		5,795,607		3.3		10.6		6,144,430		5,510,661		11.5
Consumer other	45,294		45,440		40,119		(.3	)	12.9		43,589		36,711		18.7
Total consumer	6,456,841		6,251,693		5,835,726		3.3		10.6		6,188,019		5,547,372		11.5
Commercial real estate	2,445,012		2,371,207		2,411,232		3.1		1.4		2,386,022		2,387,402		(.1	)
Commercial business	574,881		566,464		536,378		1.5		7.2		563,218		508,250		10.8
Total commercial	3,019,893		2,937,671		2,947,610		2.8		2.5		2,949,240		2,895,652		1.9
Leasing and equipment finance	2,005,889		1,937,269		1,771,231		3.5		13.2		1,915,790		1,659,807		15.4
Total Power Assets	$	11,482,623	$	11,126,633	$	10,554,567	3.2		8.8		$	11,053,049	$	10,102,831	9.4
(1) Excludes residential real estate loans, education loans held for sale and operating lease receivables.

TCF’s average Power Assets grew $950.2 million, or 9.4 percent, in 2007 from 2006. TCF’s average consumer loan balances increased $640.6 million, or 11.5 percent, average leasing and equipment finance balances increased $256 million, or 15.4 percent,

primarily due to record originations, and average commercial loan balances increased $53.6 million, or 1.9 percent, primarily due to lower prepayments.

The increase in average consumer home equity loans was primarily due to an $832.6 million increase in fixed-rate consumer home equity loans, partially offset by a $198.9 million decrease in variable-rate consumer home equity loans. At December 31, 2007, 64.1 percent of the consumer home equity portfolio was secured by first liens.

7

Power Liabilities^®

Average Power Liabilities															Table 6
							Percent Change
($ in thousands)	4Q		3Q		4Q		4Q07 vs		4Q07 vs		YTD		YTD		Percent
	2007		2007		2006		3Q07		4Q06		2007		2006		Change
Non-interest bearing deposits:
Retail	$	1,348,202	$	1,406,155	$	1,457,265	(4.1	)%	(7.5	)%	$	1,444,125	$	1,513,121	(4.6	)%
Small business	600,491		596,197		629,011		.7		(4.5	)	594,979		609,907		(2.4	)
Commercial and custodial	201,161		195,529		206,034		2.9		(2.4	)	199,432		232,725		(14.3	)
Total non-interest bearing	2,149,854		2,197,881		2,292,310		(2.2	)	(6.2	)	2,238,536		2,355,753		(5.0	)
Interest-bearing deposits:
Premier checking	1,026,408		1,048,449		1,042,361		(2.1	)	(1.5	)	1,054,542		1,001,024		5.3
Other checking	816,512		823,833		813,851		(.9	)	.3		824,791		864,316		(4.6	)
Subtotal	1,842,920		1,872,282		1,856,212		(1.6	)	(.7	)	1,879,333		1,865,340		.8
Premier savings	1,353,638		1,202,672		1,014,427		12.6		33.4		1,184,756		899,067		31.8
Other savings	1,229,808		1,274,164		1,299,319		(3.5	)	(5.3	)	1,279,577		1,376,182		(7.0	)
Subtotal	2,583,446		2,476,836		2,313,746		4.3		11.7		2,464,333		2,275,249		8.3
Money market	598,483		606,198		593,961		(1.3	)	.8		604,767		620,844		(2.6	)
Subtotal	5,024,849		4,955,316		4,763,919		1.4		5.5		4,948,433		4,761,433		3.9
Certificates of deposit	2,307,411		2,498,936		2,470,659		(7.7	)	(6.6	)	2,461,055		2,291,002		7.4
Total interest-bearing	7,332,260		7,454,252		7,234,578		(1.6	)	1.4		7,409,488		7,052,435		5.1
Power Liabilities	$	9,482,114	$	9,652,133	$	9,526,888	(1.8	)	(.5	)	$	9,648,024	$	9,408,188	2.5
Average rate on deposits	2.29%		2.48%		2.33%						2.39%		2.08%

Average Power Liabilities totaled $9.6 billion for 2007, with an average interest rate of 2.39 percent. Excluding the Michigan deposits sold in the first quarter of 2007, average Power Liabilities increased $413.4 million, or 4.5 percent, from 2006. The increase was primarily driven by increases in higher-cost savings and certificates of deposit, partially offset by declines in non-interest bearing deposits driven by the continued customer preference for higher-cost market-rate deposits.

Average Power Liabilities totaled $9.5 billion for the fourth quarter of 2007, down $170 million, or 1.8 percent, from the third quarter of 2007, primarily due to a $191.5 million decline in certificates of deposit as a result of intense deposit competition.

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Non-interest Expense

															Table 7
							Percent Change
($ in thousands)	4Q		3Q		4Q		4Q07 vs		4Q07 vs						Percent
	2007		2007		2006		3Q07		4Q06		2007		2006		Change
Compensation and
employee benefits	$	86,555	$	85,113	$	85,811	1.7	%	.9	%	$	346,468	$	341,857	1.3	%
Occupancy and equipment	30,818		30,226		29,905		2.0		3.1		120,824		114,618		5.4
Advertising and promotions	4,632		5,480		6,235		(15.5	)	(25.7	)	21,679		26,926		(19.5	)
Other	38,391		37,632		39,611		2.0		(3.1	)	147,869		151,449		(2.4	)
Subtotal	160,396		158,451		161,562		1.2		(.7	)	636,840		634,850		.3
Visa indemnification	7,696		—		—		100.0		100.0		7,696		—		100.0
Operating lease depreciation	4,521		4,326		4,000		4.5		13.0		17,588		14,347		22.6
Total non-interest expense	$	172,613	$	162,777	$	165,562	6.0		4.3		$	662,124	$	649,197	2.0

Non-interest expense (excluding Visa indemnification expense and operating lease depreciation) totaled $636.8 million for 2007, up $2 million, or .3 percent, from $634.9 million for 2006. Compensation and employee benefits were well controlled and increased $4.6 million, or 1.3 percent, from 2006. Increases due to branch expansion were partially offset by decreases resulting from branches sold, closed branches and other efficiency initiatives. Occupancy and equipment expenses increased $6.2 million, or 5.4 percent, from 2006, primarily due to the costs associated with branch expansion, relocation and remodeling. Advertising and promotions expense was $21.7 million, down $5.2 million, or 19.5 percent, from 2006, primarily due to spending reductions on media and promotions. Other expense decreased $3.6 million, or 2.4 percent, primarily due to expense control initiatives partially offset by a $3 million increase in loan and lease related costs mainly driven by higher private mortgage insurance expense, a $1.5 million increase in net real estate expenses due to higher losses on foreclosed real estate and a $1.1 million increase in card processing and issuance costs due to increased transactions. Operating lease depreciation increased $3.2 million, or 22.6 percent, from 2006, primarily driven by higher average operating lease balances in TCF’s leasing and equipment finance subsidiaries.

9

Non-interest expense (excluding Visa indemnification expense and operating lease depreciation) totaled $160.4 million for the 2007 fourth quarter, down $1.2 million, or .7 percent, from the fourth quarter of 2006. Compensation and employee benefits increased $744 thousand, or .9 percent, from the fourth quarter of 2006 primarily due to branch expansion partially offset by decreases resulting from branches sold or closed branches and other efficiency initiatives. Occupancy and equipment expenses increased $913 thousand, or 3.1 percent, from the fourth quarter of 2006 primarily due to costs associated with branch expansion. Advertising and promotions expense was $4.6 million, down $1.6 million, or 25.7 percent, from 2006, primarily due to decreased media and promotion expenses. Other expense decreased $1.2 million, or 3.1 percent, primarily due to expense control initiatives partially offset by an $879 thousand increase in net real estate expenses due to higher losses on foreclosed real estate and a $747 thousand increase in card processing and issuance costs due to increased transactions. The fourth quarter of 2006 included approximately $1 million of severance and other exit costs related to the closure and consolidation of 13 branches and other staff reductions.

TCF is a member of Visa U.S.A. Inc. (“Visa”) for issuance and processing of its card transactions. As a member of Visa, TCF has a contingent obligation to indemnify Visa for losses in connection with certain covered litigation matters. TCF recognized a $7.7 million pre-tax charge in the fourth quarter of 2007 for this contingent obligation.

10

Credit Quality

Credit Quality Summary																				Table 8
										Percent Change
($ in thousands)	4Q			3Q			4Q			4Q07 vs		4Q07 vs								Percent
	2007			2007			2006			3Q07		4Q06		2007			2006			Change
Allowance for loan and lease losses
Balance at beginning of period	$	74,632		$	66,809		$	55,098		11.7	%	35.5	%	$	58,543		$	55,823		4.9	%
Charge-offs	(17,771		)	(14,669		)	(9,895		)	21.1		79.6		(52,421		)	(33,221		)	57.8
Recoveries	3,957			3,609			3,267			9.6		21.1		17,828			15,252			16.9
Net charge-offs	(13,814		)	(11,060		)	(6,628		)	24.9		108.4		(34,593		)	(17,969		)	92.5
Provision for credit losses	20,124			18,883			10,073			6.6		99.8		56,992			20,689			175.5
Balance at end of period	$	80,942		$	74,632		$	58,543		8.5		38.3		$	80,942		$	58,543		38.3
Allowance as a percentage of period end loans and leases	.66%			.63%			.52%							.66%			.52%
Ratio of allowance to net charge-offs (1)	1.5X			1.7X			2.2X							2.3X			3.3X
Net Charge-offs as a Percentage of Average Loans and Leases (1)
Consumer home equity:
First mortgage lien	.30%			.27%			.12%							.24%			.09%
Junior lien	.62			.58			.39							.50			.22
Total home equity	.42			.38			.21							.33			.13
Total consumer	.56			.59			.32							.43			.22
Commercial real estate	.33			—			—							.10			.01
Commercial business	.30			.44			.13							.22			.09
Leasing and equipment finance	.45			.24			.36							.20			.29
Residential real estate	.05			.07			.10							.04			.04
Total	.46			.38			.24							.30			.17
Other Credit Quality Data
Delinquencies (30+ days) (2)	$	82,577		$	74,569		$	71,693		10.7		15.2
Delinquencies as a percentage of loan and lease portfolio (2):	.67%			.63%			.63%
Non-accrual loans and leases	$	59,854		$	47,235		$	43,185		26.7		38.6
Real estate owned	45,765			43,010			22,453			6.4		103.8
Total non-performing assets	$	105,619		$	90,245		$	65,638		17.0		60.9
Non-performing assets as a percentage of net loans and leases	.86%			.76%			.58%
(1)  Annualized
(2)  Excludes non-accrual loans and leases.

11

At December 31, 2007, TCF’s allowance for loan and lease losses totaled $80.9 million, or .66 percent of loans and leases, compared with $58.5 million, or .52 percent, at December 31, 2006 and $74.6 million, or .63 percent, at September 30, 2007. The provision for credit losses for 2007 was $57 million, up from $20.7 million in 2006, primarily due to higher consumer home equity net charge-offs and the resulting portfolio reserve rate increases, higher net charge-offs and reserves for certain commercial loans, primarily in Michigan, and reductions in reserves for certain equipment finance loans and leases in 2006.

Consumer home equity net charge-offs for 2007, which have steadily increased during the year, were $20.4 million, an increase of $13 million over 2006. The higher net charge-offs are primarily due to the slowdown in the residential real estate market in Minnesota and Michigan.

The provision for credit losses was $20.1 million in the fourth quarter of 2007, up from $10.1 million in the fourth quarter of 2006, primarily due to higher consumer home equity net charge-offs and the resulting portfolio reserve rate increases. Net loan and lease charge-offs during the fourth quarter of 2007 were $13.8 million, or .46 percent of average loans and leases, up from $6.6 million, or ..24 percent, in the same period of 2006, primarily due to higher consumer home equity and commercial real estate loan net charge-offs.

At December 31, 2007, TCF’s over-30-day delinquency rate was .67 percent, up from .63 percent at December 31, 2006, primarily due to consumer home equity loans and leasing and equipment finance receivables, partially offset by a decrease for commercial real estate loans. Total non-performing assets were $105.6 million, or .66 percent of total assets, at December 31, 2007, up from $65.6 million, or .45 percent of total assets, at December 31, 2006. The increase in non-performing assets from December 31, 2006 was primarily due to a $14.5 million increase in commercial real estate owned, an $8.9 million increase in residential real estate owned, a $9.7 million increase in consumer home equity non-accrual loans and a $6.4 million increase in commercial non-accrual loans.

12

Income Taxes

TCF’s income tax expense was $105.7 million for 2007, or 28.4 percent of pre-tax income, compared with $112.2 million, or 31.4 percent, for 2006. Income tax expense for 2007 includes an $8.5 million reduction related to a favorable settlement with the IRS of a tax issue from a prior year and $9.9 million of other reductions primarily resulting from changes in uncertain tax positions and state tax laws. Income tax expense for 2006 includes $6.1 million of reductions for favorable developments involving uncertain tax positions. Excluding these items, the effective income tax rate was 33.9 percent for 2007 and 33.1 percent for 2006.

TCF’s income tax expense was $22.9 million for the fourth quarter of 2007, or 26.7 percent of pre-tax income, compared with $25.4 million, or 32.1 percent, for the comparable 2006 period. The lower effective income tax rate for the fourth quarter of 2007 is primarily due to $5.4 million of reductions in income tax expense for uncertain tax positions, compared with $851 thousand of reductions in income tax expense in the fourth quarter of 2006. Excluding these items, the effective income tax rates for the fourth quarters of 2007 and 2006 were 33 percent and 33.1 percent, respectively.

Capital

Capital Information									Table 9
At period end
($in thousands, except per-share data)	4Q					4Q
	2007					2006
Stockholders’ equity	$	1,099,012				$	1,033,374
Stockholders’ equity to total assets	6.88		%			7.04		%
Book value per common share	$	8.68				$	7.92
Risk-based capital
Tier 1	$	964,467		8.28	%	$	914,128		8.65	%
Total	1,245,808			10.70		1,173,073			11.10
Total “well-capitalized” requirement	1,164,829			10.00		1,056,694			10.00
Excess over “well-capitalized” requirement	80,979			.70		116,379			1.10

13

TCF repurchased 3.9 million shares of its common stock during 2007 at an average cost of $26.92 per share. TCF has 5.4 million shares remaining under the stock repurchase program authorized by its Board of Directors as of December 31, 2007.

Website Information

A live webcast of TCF’s conference call to discuss 2007 earnings will be hosted at TCF’s website, www.tcfbank.com, on January 23, 2008 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 $16 billion in total assets. TCF has 453 banking offices in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana and Arizona. Other TCF affiliates provide leasing and equipment finance, and investments and insurance sales.

14

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 new 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 possible increases in indemnification obligations for certain litigation against Visa (“covered litigation”) and potential reductions in card revenues resulting from other litigation 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.

15

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

	Three Months Ended
	December 31,				Change
	2007		2006		$			%
Interest income:
Loans and leases	$	215,082	$	204,150	$	10,932		5.4
Securities available for sale	29,372		24,699		4,673			18.9
Education loans held for sale	3,153		3,019		134			4.4
Investments	1,595		1,173		422			36.0
Total interest income	249,202		233,041		16,161			6.9
Interest expense:
Deposits	54,788		55,996		(1,208		)	(2.2	)
Borrowings	54,843		41,158		13,685			33.2
Total interest expense	109,631		97,154		12,477			12.8
Net interest income	139,571		135,887		3,684			2.7
Provision for credit losses	20,124		10,073		10,051			99.8
Net interest income after provision for
credit losses	119,447		125,814		(6,367		)	(5.1	)
Non-interest income:
Fees and service charges	72,331		66,735		5,596			8.4
Card revenue	25,058		23,485		1,573			6.7
ATM revenue	8,306		9,019		(713		)	(7.9	)
Investments and insurance revenue	2,736		2,087		649			31.1
Subtotal	108,431		101,326		7,105			7.0
Leasing and equipment finance	14,841		15,165		(324		)	(2.1	)
Other	1,573		2,340		(767		)	(32.8	)
Fees and other revenue	124,845		118,831		6,014			5.1
Gains on sales of securities available for sale	11,261		—		11,261			100.0
Gains on sales of branches and real estate	2,752		—		2,752			100.0
Total non-interest income	138,858		118,831		20,027			16.9
Non-interest expense:
Compensation and employee benefits	86,555		85,811		744			.9
Occupancy and equipment	30,818		29,905		913			3.1
Advertising and promotions	4,632		6,235		(1,603		)	(25.7	)
Other	46,087		39,611		6,476			16.3
Subtotal	168,092		161,562		6,530			4.0
Operating lease depreciation	4,521		4,000		521			13.0
Total non-interest expense	172,613		165,562		7,051			4.3
Income before income tax expense	85,692		79,083		6,609			8.4
Income tax expense	22,875		25,350		(2,475		)	(9.8	)
Net income	$	62,817	$	53,733	$	9,084		16.9
Net income per common share:
Basic	$	.51	$	.42	$	.09		21.4
Diluted	.50		.42		.08			19.0
Dividends declared per common share	$	.2425	$	.23	$	.0125		5.4
Average common and common equivalent
shares outstanding (in thousands):
Basic	124,058		128,209		(4,151		)	(3.2	)
Diluted	124,927		128,515		(3,588		)	(2.8	)

N.M. Not meaningful

16

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

	Year Ended
	December 31,				Change
	2007		2006		$			%
Interest income:
Loans and leases	$	836,953	$	769,590	$	67,363		8.8
Securities available for sale	109,581		98,035		11,546			11.8
Education loans held for sale	13,252		15,009		(1,757		)	(11.7	)
Investments	8,237		3,504		4,733			135.1
Total interest income	968,023		886,138		81,885			9.2
Interest expense:
Deposits	230,625		195,324		35,301			18.1
Borrowings	187,221		153,284		33,937			22.1
Total interest expense	417,846		348,608		69,238			19.9
Net interest income	550,177		537,530		12,647			2.4
Provision for credit losses	56,992		20,689		36,303			175.5
Net interest income after provision for
credit losses	493,185		516,841		(23,656		)	(4.6	)
Non-interest income:
Fees and service charges	278,046		270,166		7,880			2.9
Card revenue	98,880		92,084		6,796			7.4
ATM revenue	35,620		37,760		(2,140		)	(5.7	)
Investments and insurance revenue	10,318		10,695		(377		)	(3.5	)
Subtotal	422,864		410,705		12,159			3.0
Leasing and equipment finance	59,151		53,004		6,147			11.6
Other	8,270		21,567		(13,297		)	(61.7	)
Fees and other revenue	490,285		485,276		5,009			1.0
Gains on sales of securities available for sale	13,278		—		13,278			100.0
Gains on sales of branches and real estate	37,894		4,188		33,706			N.M	.
Total non-interest income	541,457		489,464		51,993			10.6
Non-interest expense:
Compensation and employee benefits	346,468		341,857		4,611			1.3
Occupancy and equipment	120,824		114,618		6,206			5.4
Advertising and promotions	21,679		26,926		(5,247		)	(19.5	)
Other	155,565		151,449		4,116			2.7
Subtotal	644,536		634,850		9,686			1.5
Operating lease depreciation	17,588		14,347		3,241			22.6
Total non-interest expense	662,124		649,197		12,927			2.0
Income before income tax expense	372,518		357,108		15,410			4.3
Income tax expense	105,710		112,165		(6,455		)	(5.8	)
Net income	$	266,808	$	244,943	$	21,865		8.9
Net income per common share:
Basic	$	2.13	$	1.90	$	.23		12.1
Diluted	2.12		1.90		.22			11.6
Dividends declared per common share	$	.97	$	.92	$	.05		5.4
Average common and common equivalent
shares outstanding (in thousands):
Basic	125,398		129,010		(3,612		)	(2.8	)
Diluted	125,831		129,225		(3,394		)	(2.6	)
N.M. Not meaningful

17

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands, except per-share data)

(Unaudited)

	At			At
	December 31,			December 31,			Change
	2007			2006			$		%
ASSETS
Cash and due from banks	$	358,174		$	348,980		9,194		2.6
Investments	148,267			170,129			(21,862	)	(12.9	)
Securities available for sale	1,963,681			1,816,126			147,555		8.1
Education loans held for sale	156,135			144,574			11,561		8.0
Loans and leases:
Consumer home equity and other	6,590,631			5,945,077			645,554		10.9
Commercial real estate	2,557,330			2,390,653			166,677		7.0
Commercial business	558,325			551,995			6,330		1.1
Leasing and equipment finance	2,104,343			1,818,165			286,178		15.7
Subtotal	11,810,629			10,705,890			1,104,739		10.3
Residential real estate	527,607			627,790			(100,183	)	(16.0	)
Total loans and leases	12,338,236			11,333,680			1,004,556		8.9
Allowance for loan and lease losses	(80,942		)	(58,543		)	(22,399	)	(38.3	)
Net loans and leases	12,257,294			11,275,137			982,157		8.7
Premises and equipment, net	438,452			406,087			32,365		8.0
Goodwill	152,599			152,599			—		—
Other assets	502,452			356,102			146,350		41.1
Total assets	$	15,977,054		$	14,669,734		1,307,320		8.9
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Checking	$	4,108,527		$	4,348,256		(239,729	)	(5.5	)
Savings	2,636,820			2,351,580			285,240		12.1
Money market	576,667			585,779			(9,112	)	(1.6	)
Subtotal	7,322,014			7,285,615			36,399		.5
Certificates of deposit	2,254,535			2,483,635			(229,100	)	(9.2	)
Total deposits	9,576,549			9,769,250			(192,701	)	(2.0	)
Short-term borrowings	556,070			214,112			341,958		159.7
Long-term borrowings	4,417,378			3,374,428			1,042,950		30.9
Total borrowings	4,973,448			3,588,540			1,384,908		38.6
Accrued expenses and other liabilities	328,045			278,570			49,475		17.8
Total liabilities	14,878,042			13,636,360			1,241,682		9.1
Stockholders’ equity:
Common stock, par value $.01 per share, 280,000,000 shares authorized; 131,468,699 and 131,660,749 shares issued	1,315			1,317			(2	)	(.2	)
Additional paid-in capital	354,563			343,744			10,819		3.1
Retained earnings, subject to certain restrictions	926,875			784,011			142,864		18.2
Accumulated other comprehensive loss	(18,055		)	(34,926		)	16,871		48.3
Treasury stock at cost, 4,866,480 and 1,242,413 shares, and other	(165,686		)	(60,772		)	(104,914	)	(172.6	)
Total stockholders’ equity	1,099,012			1,033,374			65,638		6.4
Total liabilities and stockholders’ equity	$	15,977,054		$	14,669,734		1,307,320		8.9

18

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Allowance for loan and lease losses

	At December 31, 2007				At September 30, 2007				At December 31, 2006				Allowance as % of Portfolio
	Allowance				Allowance				Allowance				Change from
	Balance		% of Portfolio		Balance		% of Portfolio		Balance		% of Portfolio		Sep. 30, 2007		Dec. 31, 2006
Consumer home equity	$	30,951	.47	%	$	24,018	.38	%	$	12,615	.21	%	9	bps	26	bps
Consumer other	2,059		3.05		1,851		2.75		2,211		3.54		30		(49	)
Total consumer	33,010		.50		25,869		.41		14,826		.25		9		25
Commercial real estate	25,891		1.01		25,838		1.08		22,662		.95		(7	)	6
Commercial business	7,077		1.27		8,040		1.39		7,503		1.36		(12	)	(9	)
Leasing and equipment finance	14,319		.68		14,379		.73		12,990		.71		(5	)	(3	)
Residential real estate	645		.12		506		.09		562		.09		3		3
Total	$	80,942	.66		$	74,632	.63		$	58,543	.52		3		14

Quarterly Net Charge-Offs

	Quarter Ended									Change from
	Dec. 31,		Sep. 30,		Jun. 30,		Dec. 31,			Sep. 30,			Dec. 31,
	2007		2007		2007		2006			2007			2006
Consumer home equity
First mortgage lien	$	3,130	$	2,656	$	2,137	$	1,081		$	474		$	2,049
Junior lien	3,585		3,231		2,364		2,019			354			1,566
Total home equity	6,715		5,887		4,501		3,100			828			3,615
Consumer other	2,379		3,269		1,075		1,611			(890		)	768
Total consumer	9,094		9,156		5,576		4,711			(62		)	4,383
Commercial real estate	1,987		19		—		(28		)	1,968			2,015
Commercial business	430		627		43		168			(197		)	262
Leasing and equipment finance	2,234		1,164		1,362		1,611			1,070			623
Residential real estate	69		94		22		166			(25		)	(97		)
Total	$	13,814	$	11,060	$	7,003	$	6,628		$	2,754		$	7,186

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

	Quarter Ended (1)								Change from
	Dec. 31,		Sep. 30,		Jun. 30,		Dec. 31,		Sep. 30,		Dec. 31,
	2007		2007		2007		2006		2007		2006
Consumer home equity
First mortgage lien	.30	%	.27	%	.22	%	.12	%	3	bps	18	bps
Junior lien	.62		.58		.44		.39		4		23
Total home equity	.42		.38		.30		.21		4		21
Total consumer	.56		.59		.37		.32		(3	)	24
Commercial real estate	.33		—		—		—		33		33
Commercial business	.30		.44		.03		.13		(14	)	17
Leasing and equipment finance	.45		.24		.29		.36		21		9
Residential real estate	.05		.07		.01		.10		(2	)	(5	)
Total	.46		.38		.24		.24		8		22

Non-performing assets

	At			At			At			At			Change from
	Dec. 31,			Sep. 30,			Jun. 30,			Dec. 31,			Sep. 30,			Dec. 31,
	2007			2007			2007			2006			2007			2006
Non-accrual loans and leases:
Consumer home equity
First mortgage lien	$	20,776		$	13,794		$	11,309		$	11,202		$	6,982		$	9,574
Junior lien	5,391			4,610			4,563			5,291			781			100
Total home equity	26,167			18,404			15,872			16,493			7,763			9,674
Consumer other	6			11			29			27			(5		)	(21		)
Total consumer	26,173			18,415			15,901			16,520			7,758			9,653
Commercial real estate	19,999			13,824			11,746			12,849			6,175			7,150
Commercial business	2,658			2,686			3,337			3,421			(28		)	(763		)
Leasing and equipment finance	8,050			9,177			6,886			7,596			(1,127		)	454
Residential real estate	2,974			3,133			2,521			2,799			(159		)	175
Total non-accrual loans and leases	59,854			47,235			40,391			43,185			12,619			16,669
Other real estate owned:
Residential real estate	28,752			28,444			30,111			19,899			308			8,853
Commercial real estate	17,013			14,566			14,702			2,554			2,447			14,459
Total other real estate owned	45,765			43,010			44,813			22,453			2,755			23,312
Total non-performing assets	$	105,619		$	90,245		$	85,204		$	65,638		$	15,374		$	39,981
Non-performing assets as a percentage of net loans and leases	.86		%	.76		%	.74		%	.58		%	10		bps	28		bps

(1) Annualized

19

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Delinquency data - principal balances (1)

	At		At		At		At		Change from
	Dec. 31,		Sep. 30,		Jun. 30,		Dec. 31,		Sep. 30,			Dec. 31,
	2007		2007		2007		2006		2007			2006
30 days or more:
Consumer home equity
First mortgage lien	$	31,784	$	27,957	$	19,288	$	22,527	$	3,827		$	9,257
Junior lien	12,289		11,185		8,709		11,406		1,104			883
Total home equity	44,073		39,142		27,997		33,933		4,931			10,140
Consumer other	377		416		272		380		(39		)	(3		)
Total consumer	44,450		39,558		28,269		34,313		4,892			10,137
Commercial real estate	11,382		7,140		10,739		18,072		4,242			(6,690		)
Commercial business	1,071		2,653		183		762		(1,582		)	309
Leasing and equipment finance	15,691		15,651		11,016		8,499		40			7,192
Residential real estate	9,983		9,567		8,480		10,047		416			(64		)
Total 30 days or more	$	82,577	$	74,569	$	58,687	$	71,693	$	8,008		$	10,884
Total 90 days or more and still accruing	$	15,384	$	13,887	$	20,754	$	12,214	$	1,497		$	3,170

Delinquency data - % of portfolio (1)

	At		At		At		At		Change from
	Dec. 31,		Sep. 30,		Jun. 30,		Dec. 31,		Sep. 30,		Dec. 31,
	2007		2007		2007		2006		2007		2006
30 days or more:
Consumer home equity
First mortgage lien	.76	%	.69	%	.50	%	.60	%	7	bps	16	bps
Junior lien	.53		.50		.40		.54		3		(1	)
Total home equity	.68		.62		.46		.58		6		10
Consumer other	.56		.62		.42		.61		(6	)	(5	)
Total consumer	.68		.62		.46		.58		6		10
Commercial real estate	.45		.30		.46		.76		15		(31	)
Commercial business	.19		.46		.03		.14		(27	)	5
Leasing and equipment finance	.75		.80		.58		.47		(5	)	28
Residential real estate	1.90		1.76		1.49		1.61		15		30
Total 30 days or more	.67		.63		.51		.63		4		4
Total 90 days or more and still accruing	.12		.12		.18		.11		—		1

Potential Problem Loans and Leases (2)

	At		At		At		At		Change from
	Dec. 31,		Sep. 30,		Jun. 30,		Dec. 31,		Sep. 30,			Dec. 31,
	2007		2007		2007		2006		2007			2006
Commercial real estate	$	31,511	$	42,277	$	35,956	$	43,216	$	(10,766	)	$	(11,705	)
Commercial business	8,695		8,764		8,557		11,664		(69		)	(2,969		)
Leasing and equipment finance	15,015		14,109		12,022		11,265		906			3,750
	$	55,221	$	65,150	$	56,535	$	66,145	$	(9,929	)	$	(10,924	)

(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.

20

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

		Three Months Ended December 31,
		2007											2006
		Average								Yields and			Average					Yields and
		Balance				Interest				Rates (1)			Balance			Interest		Rates (1)
ASSETS
Investments		$		147,058		$		1,595		4	.31%		$		101,548	$	1,173	4	.59%
Securities available for sale		2,187,068				29,372				5	.37		1,840,649			24,699		5	.37
Education loans held for sale		153,146				3,153				8	.17		145,283			3,019		8	.24
Loans and leases:
Consumer home equity:
Fixed-rate		4,889,304				85,978				6	.98		4,293,070			74,869		6	.92
Variable-rate		1,522,243				30,608				7	.98		1,502,537			33,636		8	.88
Consumer - other		45,294				1,114				9	.76		40,119			1,042		10	.30
Total consumer home equity and other		6,456,841				117,700				7	.23		5,835,726			109,547		7	.45
Commercial real estate:
Fixed- and adjustable-rate		1,839,817				29,842				6	.44		1,718,735			28,220		6	.51
Variable-rate		605,195				10,814				7	.09		692,497			13,761		7	.88
Total commercial real estate		2,445,012				40,656				6	.60		2,411,232			41,981		6	.91
Commercial business:
Fixed- and adjustable-rate		179,525				2,854				6	.31		152,018			2,488		6	.49
Variable-rate		395,356				6,885				6	.91		384,360			7,320		7	.56
Total commercial business		574,881				9,739				6	.72		536,378			9,808		7	.25
Leasing and equipment finance		2,005,889				39,217				7	.82		1,771,231			33,462		7	.56
Subtotal		11,482,623				207,312				7	.17		10,554,567			194,798		7	.33
Residential real estate		537,449				7,770				5	.77		643,087			9,352		5	.81
Total loans and leases		12,020,072				215,082				7	.11		11,197,654			204,150		7	.25
Total interest-earning assets		14,507,344				249,202				6	.83		13,285,134			233,041		6	.98
Other assets		1,198,428											1,160,876
Total assets		$		15,705,772									$		14,446,010
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$		1,348,202									$		1,457,265
Small business	600,491											629,011
Commercial and custodial	201,161											206,034
Total non-interest bearing deposits	2,149,854											2,292,310
Interest-bearing deposits:
Premier checking	1,026,408				6,454				2		.49	1,042,361				8,196		3	.12
Other checking	816,512				830						.40	813,851				464			.23
Subtotal	1,842,920				7,284				1		.57	1,856,212				8,660		1	.85
Premier savings	1,353,638				13,819				4		.05	1,014,427				11,073		4	.33
Other savings	1,229,808				3,510				1		.13	1,299,319				3,473		1	.06
Subtotal	2,583,446				17,329				2		.66	2,313,746				14,546		2	.49
Money market	598,483				4,159				2		.76	593,961				4,179		2	.79
Subtotal	5,024,849				28,772				2		.27	4,763,919				27,385		2	.28
Certificates of deposit	2,307,411				26,016				4		.47	2,470,659				28,611		4	.59
Total interest-bearing deposits	7,332,260				54,788				2		.96	7,234,578				55,996		3	.07
Total deposits	9,482,114				54,788				2		.29	9,526,888				55,996		2	.33
Borrowings:
Short-term borrowings	450,027				5,184				4		.57	520,883				7,026		5	.35
Long-term borrowings	4,340,891				49,659				4		.54	3,039,011				34,132		4	.46
Total borrowings	4,790,918				54,843				4		.54	3,559,894				41,158		4	.59
Total deposits and borrowings	14,273,032				109,631				3		.05	13,086,782				97,154		2	.94
Other liabilities	365,888											319,740
Total liabilities	14,638,920											13,406,522
Stockholders’ equity	1,066,852											1,039,488
Total liabilities and stockholders’ equity	$		15,705,772									$		14,446,010
Net interest income and margin					$		139,571		3		.83%					$	135,887	4	.07%

(1)  Annualized

21

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

	Year Ended December 31,
	2007						2006
	Average				Yields and		Average				Yields and
	Balance		Interest		Rates		Balance		Interest		Rates
ASSETS
Investments	$	178,012	$	8,237	4	.63%	$	78,511	$	3,504	4	.46%
Securities available for sale	2,024,563		109,581		5	.41	1,833,359		98,035		5	.35
Education loans held for sale	154,516		13,252		8	.58	210,992		15,009		7	.11
Loans and leases:
Consumer home equity:
Fixed-rate	4,683,745		326,516		6	.97	3,851,117		263,157		6	.83
Variable-rate	1,460,685		124,992		8	.56	1,659,544		143,576		8	.65
Consumer - other	43,589		4,307		9	.88	36,711		3,717		10	.13
Total consumer home equity and other	6,188,019		455,815		7	.37	5,547,372		410,450		7	.40
Commercial real estate:
Fixed- and adjustable-rate	1,777,813		114,140		6	.42	1,665,531		105,089		6	.31
Variable-rate	608,209		46,363		7	.62	721,871		55,239		7	.65
Total commercial real estate	2,386,022		160,503		6	.73	2,387,402		160,328		6	.72
Commercial business:
Fixed- and adjustable-rate	169,776		10,853		6	.39	134,560		8,471		6	.30
Variable-rate	393,442		28,947		7	.36	373,690		27,619		7	.39
Total commercial business	563,218		39,800		7	.07	508,250		36,090		7	.10
Leasing and equipment finance	1,915,790		147,507		7	.70	1,659,807		122,292		7	.37
Subtotal	11,053,049		803,625		7	.27	10,102,831		729,160		7	.22
Residential real estate	574,554		33,328		5	.80	696,086		40,430		5	.81
Total loans and leases	11,627,603		836,953		7	.20	10,798,917		769,590		7	.13
Total interest-earning assets	13,984,694		968,023		6	.92	12,921,779		886,138		6	.86
Other assets	1,161,106						1,141,934
Total assets	$	15,145,800					$	14,063,713
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest bearing deposits:
Retail	$	1,444,125					$	1,513,121
Small business	594,979						609,907
Commercial and custodial	199,432						232,725
Total non-interest bearing deposits	2,238,536						2,355,753
Interest-bearing deposits:
Premier checking	1,054,542		30,650		2	.91	1,001,024		31,539		3	.15
Other checking	824,791		2,994			.36	864,316		2,017			.23
Subtotal	1,879,333		33,644		1	.79	1,865,340		33,556		1	.80
Premier savings	1,184,756		49,994		4	.22	899,067		37,275		4	.15
Other savings	1,279,577		14,976		1	.17	1,376,182		12,797			.93
Subtotal	2,464,333		64,970		2	.64	2,275,249		50,072		2	.20
Money market	604,767		17,481		2	.89	620,844		15,216		2	.45
Subtotal	4,948,433		116,095		2	.35	4,761,433		98,844		2	.08
Certificates of deposit	2,461,055		114,530		4	.65	2,291,002		96,480		4	.21
Total interest-bearing deposits	7,409,488		230,625		3	.11	7,052,435		195,324		2	.77
Total deposits	9,648,024		230,625		2	.39	9,408,188		195,324		2	.08
Borrowings:
Short-term borrowings	230,293		11,369		4	.94	596,852		30,041		5	.03
Long-term borrowings	3,890,054		175,852		4	.52	2,752,847		123,243		4	.48
Total borrowings	4,120,347		187,221		4	.54	3,349,699		153,284		4	.58
Total deposits and borrowings	13,768,371		417,846		3	.03	12,757,887		348,608		2	.73
Other liabilities	343,978						300,930
Total liabilities	14,112,349						13,058,817
Stockholders’ equity	1,033,451						1,004,896
Total liabilities and stockholders’ equity	$	15,145,800					$	14,063,713
Net interest income and margin			$	550,177	3	.94%			$	537,530	4	.16%

22

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
	Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,
	2007			2007			2007			2007			2006
Interest income:
Loans and leases	$	215,082		$	213,528		$	206,738		$	201,605		$	204,150
Securities available for sale	29,372			28,439			26,665			25,105			24,699
Education loans held for sale	3,153			2,588			3,365			4,146			3,019
Investments	1,595			2,279			1,557			2,806			1,173
Total interest income	249,202			246,834			238,325			233,662			233,041
Interest expense:
Deposits	54,788			60,440			58,242			57,155			55,996
Borrowings	54,843			48,690			42,658			41,030			41,158
Total interest expense	109,631			109,130			100,900			98,185			97,154
Net interest income	139,571			137,704			137,425			135,477			135,887
Provision for credit losses	20,124			18,883			13,329			4,656			10,073
Net interest income after provision for credit losses	119,447			118,821			124,096			130,821			125,814
Non-interest income:
Fees and service charges	72,331			71,965			71,728			62,022			66,735
Card revenue	25,058			25,685			24,876			23,261			23,485
ATM revenue	8,306			9,251			9,314			8,749			9,019
Investments and insurance revenue	2,736			2,632			2,772			2,178			2,087
Subtotal	108,431			109,533			108,690			96,210			101,326
Leasing and equipment finance	14,841			15,110			15,199			14,001			15,165
Other	1,573			1,751			2,993			1,953			2,340
Fees and other revenue	124,845			126,394			126,882			112,164			118,831
Gains on sales of securities available for sale	11,261			2,017			—			—			—
Gains on sales of branches and real estate	2,752			1,246			2,723			31,173			—
Total non-interest income	138,858			129,657			129,605			143,337			118,831
Non-interest expense:
Compensation and employee benefits	86,555			85,113			86,707			88,093			85,811
Occupancy and equipment	30,818			30,226			29,329			30,451			29,905
Advertising and promotions	4,632			5,480			5,586			5,981			6,235
Other	46,087			37,632			36,531			35,315			39,611
Subtotal	168,092			158,451			158,153			159,840			161,562
Operating lease depreciation	4,521			4,326			4,381			4,360			4,000
Total non-interest expense	172,613			162,777			162,534			164,200			165,562
Income before income tax expense	85,692			85,701			91,167			109,958			79,083
Income tax expense	22,875			26,563			29,038			27,234			25,350
Net income	$	62,817		$	59,138		$	62,129		$	82,724		$	53,733
Net income per common share:
Basic	$	.51		$	.48		$	.49		$	.65		$	.42
Diluted	.50			.48			.49			.65			.42
Dividends declared per common share	$	.2425		$	.2425		$	.2425		$	.2425		$	.23
Financial Ratios:
Return on average assets (1)	1.60		%	1.55		%	1.67		%	2.24		%	1.49		%
Return on average common equity (1)	23.55			23.39			24.16			31.81			20.68
Net interest margin (1)	3.83			3.90			4.02			4.00			4.07
Net charge-offs as a percentage of average loans and leases (1)	.46			.38			.24			.10			.24
Average total equity to average assets	6.79			6.64			6.92			7.03			7.20

(1)  Annualized

23

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS AND SUPPLEMENTAL INFORMATION

(In thousands)

(Unaudited)

	Dec. 31,			Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,
	2007			2007			2007			2007			2006
ASSETS
Cash and due from banks	$	310,011		$	309,596		$	297,231		$	309,741		$	316,389
Investments	147,058			203,406			130,977			231,256			101,548
Securities available for sale	2,187,068			2,078,155			1,967,524			1,861,335			1,840,649
Education loans held for sale	153,146			110,449			153,566			201,924			145,283
Loans and leases:
Consumer home equity:
Fixed-rate	4,889,304			4,750,552			4,614,322			4,475,520			4,293,070
Variable-rate	1,522,243			1,455,701			1,421,390			1,442,593			1,502,537
Consumer - other	45,294			45,440			41,708			41,853			40,119
Total consumer home equity and other	6,456,841			6,251,693			6,077,420			5,959,966			5,835,726
Commercial real estate:
Fixed- and adjustable-rate	1,839,817			1,786,829			1,750,690			1,732,636			1,718,735
Variable-rate	605,195			584,378			598,918			645,047			692,497
Total commercial real estate	2,445,012			2,371,207			2,349,608			2,377,683			2,411,232
Commercial business:
Fixed- and adjustable-rate	179,525			170,593			165,780			163,014			152,018
Variable-rate	395,356			395,871			391,354			391,113			384,360
Total commercial business	574,881			566,464			557,134			554,127			536,378
Leasing and equipment finance	2,005,889			1,937,269			1,879,958			1,837,964			1,771,231
Subtotal	11,482,623			11,126,633			10,864,120			10,729,740			10,554,567
Residential real estate	537,449			559,413			587,400			614,970			643,087
Total loans and leases	12,020,072			11,686,046			11,451,520			11,344,710			11,197,654
Allowance for loan and lease losses	(77,072		)	(68,564		)	(61,934		)	(58,714		)	(56,440		)
Net loans and leases	11,943,000			11,617,482			11,389,586			11,285,996			11,141,214
Premises and equipment	435,426			427,632			420,967			414,041			400,812
Goodwill	152,599			152,599			152,599			152,599			152,599
Other assets	377,464			325,846			339,170			344,594			347,516
	$	15,705,772		$	15,225,165		$	14,851,620		$	14,801,486		$	14,446,010
LIABILITIES AND STOCKHOLDERS’ EQUITY
Non-interest-bearing deposits:
Retail	$	1,348,202		$	1,406,155		$	1,492,429		$	1,532,150		$	1,457,265
Small business	600,491			596,197			586,711			596,460			629,011
Commercial and custodial	201,161			195,529			199,226			201,860			206,034
Total non-interest bearing deposits	2,149,854			2,197,881			2,278,366			2,330,470			2,292,310
Interest-bearing deposits:
Premier checking	1,026,408			1,048,449			1,070,397			1,073,500			1,042,361
Other checking	816,512			823,833			834,405			824,512			813,851
Subtotal	1,842,920			1,872,282			1,904,802			1,898,012			1,856,212
Premier savings	1,353,638			1,202,672			1,109,341			1,070,059			1,014,427
Other savings	1,229,808			1,274,164			1,300,857			1,314,471			1,299,319
Subtotal	2,583,446			2,476,836			2,410,198			2,384,530			2,313,746
Money market	598,483			606,198			604,217			610,286			593,961
Subtotal	5,024,849			4,955,316			4,919,217			4,892,828			4,763,919
Certificates of deposit	2,307,411			2,498,936			2,525,886			2,513,838			2,470,659
Total interest-bearing deposits	7,332,260			7,454,252			7,445,103			7,406,666			7,234,578
Total deposits	9,482,114			9,652,133			9,723,469			9,737,136			9,526,888
Borrowings:
Short-term borrowings	450,027			183,582			196,169			87,928			520,883
Long-term borrowings	4,340,891			4,043,570			3,566,883			3,599,032			3,039,011
Total borrowings	4,790,918			4,227,152			3,763,052			3,686,960			3,559,894
Accrued expenses and other liabilities	365,888			334,630			336,676			337,178			319,740
Total liabilities	14,638,920			14,213,915			13,823,197			13,761,274			13,406,522
Stockholders’ equity:
Common stock	1,315			1,315			1,315			1,316			1,534
Additional paid-in capital	353,365			351,905			351,312			344,685			395,237
Retained earnings	901,799			871,691			841,757			795,884			1,129,892
Accumulated other comprehensive loss	(24,229		)	(52,355		)	(42,754		)	(34,939		)	(23,804		)
Treasury stock at cost and other	(165,398		)	(161,306		)	(123,207		)	(66,734		)	(463,371		)
	1,066,852			1,011,250			1,028,423			1,040,212			1,039,488
	$	15,705,772		$	15,225,165		$	14,851,620		$	14,801,486		$	14,446,010
Supplemental Information:
Securities available for sale	$	2,187,068		$	2,078,155		$	1,967,524		$	1,861,335		$	1,840,649
Residential real estate loans	537,449			559,413			587,400			614,970			643,087
Total securities available for sale and residential real estate loans	$	2,724,517		$	2,637,568		$	2,554,924		$	2,476,305		$	2,483,736

24

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Dec. 31,		Sep. 30,		Jun. 30,		Mar. 31,		Dec. 31,
	2007		2007		2007		2007		2006
ASSETS
Investments	4.31	%	4.45	%	4.77	%	4.91	%	4.59	%
Securities available for sale	5.37		5.47		5.42		5.40		5.37
Education loans held for sale	8.17		9.30		8.79		8.33		8.24
Loans and leases:
Consumer home equity:
Fixed-rate	6.98		6.99		6.97		6.95		6.92
Variable-rate	7.98		8.67		8.80		8.83		8.88
Consumer - other	9.76		9.74		10.16		9.89		10.30
Total consumer home equity and other	7.23		7.40		7.42		7.42		7.45
Commercial real estate:
Fixed- and adjustable-rate	6.44		6.44		6.42		6.38		6.51
Variable-rate	7.09		7.86		7.83		7.72		7.88
Total commercial real estate	6.60		6.79		6.78		6.74		6.91
Commercial business:
Fixed- and adjustable-rate	6.31		6.32		6.47		6.48		6.49
Variable-rate	6.91		7.51		7.50		7.51		7.56
Total commercial business	6.72		7.16		7.19		7.21		7.25
Leasing and equipment finance	7.82		7.84		7.67		7.45		7.56
Subtotal	7.17		7.34		7.31		7.27		7.33
Residential real estate	5.77		5.77		5.85		5.79		5.81
Total loans and leases	7.11		7.26		7.24		7.19		7.25
Total interest-earning assets	6.83		6.97		6.97		6.92		6.98
LIABILITIES
Interest-bearing deposits:
Premier checking	2.49		3.05		2.98		3.10		3.12
Other checking	.40		.43		.35		.26		.23
Subtotal	1.57		1.90		1.83		1.87		1.85
Premier savings	4.05		4.35		4.22		4.29		4.33
Other savings	1.13		1.29		1.15		1.11		1.06
Subtotal	2.66		2.77		2.56		2.54		2.49
Money market	2.76		3.02		2.89		2.89		2.79
Subtotal	2.27		2.48		2.32		2.32		2.28
Certificates of deposit	4.47		4.68		4.73		4.70		4.59
Total interest-bearing deposits	2.96		3.22		3.14		3.13		3.07
Total deposits	2.29		2.48		2.40		2.38		2.33
Borrowings:
Short-term borrowings	4.57		5.32		5.22		5.41		5.35
Long-term borrowings	4.54		4.54		4.51		4.49		4.46
Total borrowings	4.54		4.57		4.55		4.51		4.59
Total interest-bearing liabilities	3.59		3.71		3.61		3.59		3.57
Net interest margin	3.83	%	3.90	%	4.02	%	4.00	%	4.07	%

(1)  Annualized

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