Exhibit 11 - Computation of Earnings Per Share
TCF FINANCIAL CORPORATION AND SUBSIDIARIES
Computation of Earnings Per Share
(Dollars in thousands, except per-share data)
Computation of Earnings Per Share
for Statements of Operations: Year Ended December 31,
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1994 1993 1992
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Income applicable to common stock $ 57,363 $ 37,971 $ 45,259
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Weighted average number of common and common
equivalent shares outstanding:
Weighted average common shares outstanding 12,219,209 12,312,197 11,741,307
Dilutive effect of stock option plans after
application of treasury stock method 163,468 191,792 370,633
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12,382,677 12,503,989 12,111,940
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Net income per common share $ 4.63 $ 3.04 $ 3.74
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Computation of Fully Diluted
Earnings Per Share (1):
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Income applicable to common stock $ 57,363 $ 37,971 $ 45,259
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Weighted average number of common and common
equivalent shares outstanding:
Weighted average common shares outstanding 12,219,209 12,312,197 11,741,307
Dilutive effect of stock option plans after
application of treasury stock method 179,735 197,820 427,089
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12,398,944 12,510,017 12,168,396
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Net income per common share $ 4.63 $ 3.04 $ 3.72
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<FN>
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(1) This calculation is submitted in accordance with Regulation S-K Item
601(b)(11) although not required by footnote 2 to paragraph 14 of APB
Opinion No. 15 because it results in dilution of less than 3%.
EX.11