TCF Bank 2001 Annual Report Download - page 23

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21
CORPORATE
PHILOSOPHY
•TCF banks everybody, including lower- and middle-income
customers and small to medium-sized businesses in our mar-
kets. TCF emphasizes convenience in banking; we’re open up
to 12 hours a day, seven days a week, 360+ days per year.
We provide customers innovative products through multiple
banking channels, including traditional and supermarket
branches, TCF EXPRESS TELLERSM ATMs, TCF Express Cards, phone
banking, and Internet banking.
•TCF operates like a partnership. We’re organized geographi-
cally and by function, with profit center goals and objectives.
TCF emphasizes return on average assets, return on average
equity, and earnings per share growth. We know which products
are profitable and contribute to these goals. Local geographic
managers are responsible for local business decisions, business
development initiatives, customer relations, and community
involvement. Managers are incented to achieve these goals.
•TCF focuses on growing its large number of low-interest cost
checking accounts by offering convenient products, such as
“Totally Free Checking”. TCF uses the checking account as its
core deposit account to build additional customer relationships.
•TCF earns most of its profits from the deposit side of the bank.
We accumulate a large number of low cost accounts through
convenient services and products targeted to a broad range
of customers. As a result of the profits we earn from the deposit
business, we can minimize credit risk on the asset side.
•TCF utilizes conservative accounting and reporting principles
that accurately and honestly report our financial condition
and results of operations.
•TCF encourages stock ownership by our officers, directors and
employees. We have a mutuality of interest with our share-
holders, and our goal is to earn above-average returns for
our shareholders.
•TCF is currently growing primarily through de novo expansion
rather than acquisition. We are also growing by starting new
businesses, opening new branches and offering new products
and services.
•TCF believes interest-rate risk should be minimized. Interest-
rate speculation does not generate consistent profits and
is high risk.
•TCF is primarily a secured lender and emphasizes credit qual-
ity over asset growth. The costs of poor credit far outweigh
the benefits of unwise asset growth.
•TCF places a high priority on the development of technology
to enhance productivity, customer service and new products.
Properly applied technology increases revenue, reduces costs
and enhances service. We centralize paper processing and
decentralize the banking process.
•TCF encourages open employee communication and promotes
from within whenever possible. TCF places the highest prior-
ity on honesty, integrity and ethical behavior.
•TCF believes in community participation, both financially and
through volunteerism. We feel a responsibility to help those
less fortunate.
•TCF does not discriminate against anyone in employment or the
extension of credit. As a result of TCF’s community banking phi-
losophy, we market to everyone in the communities we service.