TCF Bank 2004 Annual Report Download - page 13

2004 Annual Report 11
0403020100
Card Revenue
(millions of dollars)
$28.8
$37.6
$47.2
$53.0
$63.3
We listen to our customers and as a result, put emphasis on conven-
ience in banking. TCF is “The Leader in Convenience Banking,” and we
use our premier convenience services to attract a large, economically
diverse and growing customer base. We provide convenience by being
open longer hours, seven days a week and open on most holidays. TCF
offers a large supermarket branch network, complemented by tradi-
tional branches, providing customers with alternative locations to
conduct their banking. TCF’s free online banking services, extensive
ATM network, automated telephone service, and Internet banking pro-
vide even more convenient options – meeting customers needs.
Strategically adding new branches where they can best support and
increase our customer base, introducing new products and services,
and enhancing our existing products and services, are strategies that
have worked well for TCF over the last decade.
TCF places emphasis on what it defines as Power Assets (higher-yielding
consumer loans, commercial loans and leasing assets) and Power
Liabilities (lower-cost checking, savings, money market and certificate
of deposit accounts). A principal strategy of TCF’s Power Assets is to
lend on a secured basis. Our strong credit quality is evidence that this
important strategy is working; TCF has one of the lowest charge-off
ratios in the banking industry. TCF’s Power Liabilities are the founda-
tion of our business and are proven profit drivers at TCF. By focusing on
both Power Assets and Power Liabilities, we recognize the important
contributions to overall profitability by both the liability and asset side
of the balance sheet. By earning at least one percent on each side of
the balance sheet, we can generate a total return on assets greater
than two percent.
TCF’s superior earnings performance allows us to regularly buy back
our own stock. In evaluating potential acquisitions, we look at the
stock buy back opportunity as an acquisition alternative that may
provide superior returns. Investing in our own stock has been good for
TCF and its shareholders.
Simple, straightforward, and enduring strategies, which are based on
a well-grounded philosophy coupled with successful execution and
solid management, have made TCF one of the top performing banks in
the United States.
De Novo Expansion
TCF continues to be committed to de novo expansion in both our branch
network and in our development of new products and services. Each
of these components play a fundamental and complementary role –
to add new branches supporting our growing customer base and to
“We listen to our customers
and as a result, put emphasis
on convenience in banking.”