TCF Bank 2009 Annual Report Download - page 12

10 : TCF Financial Corporation and Subsidiaries
• Changes in customer behavior from the slowing
economy and advances in technology could further
impact fee revenue. In addition, changes to our product
and service offerings in response to potential legislative
changes could have an impact on customer banking
preferences in the future.
• Growth expectations of our new inventory finance
business may not be achieved. This new line of business
has been very successful for TCF; however, the ability
to retain existing business relationships and attract new
customers will become challenging as competitors
re-enter the market.
• A further reduction of the public’s perception of banks.
When public perception sours as a result of bad behavior
from some of the largest players, smaller community
banks like TCF are the ones at risk of being impacted the
most. Therefore, it is important we continue to stick to
our knitting and provide products and services that appeal
to all people.
TCF has prudently managed these types of risks in
the past and we believe we are adequately prepared to
manage them in the future.
In Closing:
TCF remains a safe and sound financial institution.
Our capital position remains strong and we have access
to the capital markets to raise additional equity or debt.
We have ample liquidity to conduct business. Our commit-
ment to a conservative corporate philosophy has proven
itself time and again over the past 25 years. I am proud
we have held tight to our principles and, as a result, TCF
has remained profitable during a very difficult time while
many others fell short. TCF has a business model that
works and we continue to look for opportunities to create
and deliver stockholder value.
We also continue to have a mutuality of interest with
our stockholders. Our senior management and board
of directors own over 8.7 million shares, or 7 percent
of TCF stock. Eighty-three percent of our match-eligible
employees participate in TCF’s Employees Stock Purchase
Plan, which at year-end held over 8.2 million shares.
Our compensation systems are largely stock based.
I would like to take this opportunity to thank the board
of directors for their continued dedication, wise counsel
and support of TCF. It was very much appreciated in
2009. During the year, we welcomed Vance Opperman
and Peter Bell to TCF’s board membership. Vance has a
wealth of knowledge and experience in law and financial
services and we welcome his insights to assist TCF
in our continued growth and success. Peter previously
worked at TCF and has expertise in government
services, business development, transportation, higher
education and housing. Both Vance and Peter share a
passion for community service which is unprecedented
and highly commendable. We look forward to their
guidance and counsel.
I would also like to give a special thanks to our employ-
ees for their hard work and efforts during another very
challenging year. Their exceptional abilities, commitment
and energy make everything happen at TCF. I am proud
of the TCF Team and its accomplishments.
Thank you for your continued support and investment
in TCF.
William A. Cooper
Chairman and Chief Executive Officer
0908070605
$12.3
$13.3
$14.6
Total Loans & Leases
Billions of Dollars
+9% annual growth rate (’09 vs. ’08)
$10.2
$11.3