TCF Bank 2009 Annual Report Download - page 2

Table of Contents
1 Letter to Our Stockholders
11 Board of Directors
12 Financial Highlights
Annual Report on Form 10-K
1 Business
16 Selected Financial Data
17 Management’s Discussion and Analysis
46 Consolidated Financial Statements
50 Notes to Consolidated Financial Statements
79 Other Financial Data
92 Corporate Information
95 Stockholder Information
97 Corporate Philosophy
TCF was built on a conservative philosophy of banking, which has been the
foundation of our growth and success. We understand what our customers
want and, as a result, we deliver the best products with the most convenient
services in the markets we serve. Our talented team members have been
putting The Customer First for over three generations and now, more than
ever, we are focused on growing our core businesses, providing exceptional
customer service, and staying true to our corporate philosophy (see back
cover). We greatly appreciate the trust our customers put in us, the effort
and innovation of our team members and the exceptional leadership from
our Board of Directors. We are optimistic about the future at TCF.
 TCF’s focused prot center structure creates
superior nancial performance. Day-to-day operations are
organized by prot centers within business lines: Wholesale
Banking (commercial banking, leasing and equipment
nance, and inventory nance), Retail Banking (branch
banking and retail lending), Treasury Services and Support
Services, each with prot center goals and objectives. TCF
emphasizes net income, return on average assets and
earnings per share growth at acceptable levels of risk. We
offer products that are protable and contribute to these
goals. Our prot center structure creates a highly respon-
sive and performance driven culture.
 TCF emphasizes convenience in banking; we’re
open 12 hours a day, seven days a week, 364 days per year.
TCF banks a large and diverse customer base. We provide
customers innovative products through multiple banking
channels, including traditional, supermarket and campus
branches, TCF Express Teller® and other ATMs, debit cards,
phone banking, and Internet banking.
 TCF focuses on growing and retaining
its large number of low-interest cost checking accounts
by offering convenient hours and delivery channels, and
products with many free features. TCF uses the checking
account as the anchor account to build additional
customer relationships.
 TCF earns a signicant portion of its prots
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 prots we earn from the deposit business,
we can minimize credit risk on the asset side.
 TCF is primarily a secured lender and
emphasizes credit quality over asset growth. The costs of poor
credit far outweigh the benets of unwise asset growth.
 TCF’s diversied asset portfolio
and our extensive credit review practices reduce our credit
risks while creating protability and sustainable growth,
even in the most challenging economic environments.
We lend and lease to high-quality customers and invest
only in programs that add value to the organization and
yield solid returns.
 TCF believes interest-rate risk should
be minimized. Interest-rate speculation does not generate
consistent prots and is high risk.
 TCF focuses on prudent capital and
liquidity management which strengthens our capital
position, increases our borrowing capacity, and reduces our
costs and risks. We are solidly capitalized and have access
to ample liquidity to conduct business. TCF’s nancial
strength makes us a safe and sound nancial institution.
 TCF grows both through de novo expansion and
acquisition. We are growing by starting new businesses,
opening new branches and offering new products and services.
 TCF strives to place The Customer First.
We believe providing great service helps to retain existing
customers, attract new customers, create value for our
stockholders, and build pride in our employees. We also
respect customers’ concerns about privacy and know they
place their trust in us. TCF is committed to protecting the
private information of our customers and retaining that
trust is our priority.
 TCF encourages stock ownership by our
ofcers, directors and employees. We have a mutuality of
interest with our stockholders, and our goal is to earn for
them an above-average return.
 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 customer service. We centralize
back ofce activities and decentralize the banking process.
 TCF utilizes conservative account-
ing and nancial reporting principles that accurately and
honestly report our nancial condition and results of
operations. We believe good accounting drives good business
decision-making.
 TCF encourages open
employee communication and promotes from within whenever
possible. TCF places the highest priority on honesty, integrity
and ethical behavior.
 TCF does not discriminate against anyone
in employment or the extension of credit. As a result of
TCF’s community banking philosophy, we market our products
and services to everyone in the communities we serve.
 TCF believes in community
participation, both nancially and through volunteerism.
We feel a responsibility to help those less fortunate.