TCF Bank 2009 Annual Report Download - page 45

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2009 Form 10-K : 29
was originated at FICO scores below 620. TCF originated
$1.9 billion of new loans in 2008 and 2009; of these loans,
net charge-offs over the last eight quarters totaled
$4 million, or .10%.
At both December 31, 2009 and December 31, 2008,
total consumer real estate lines of credit outstanding were
$2.2 billion. Outstanding balances on consumer real estate
lines of credit were 58% of total lines of credit at December
31, 2009, compared with 55% at December 31, 2008.
Commercial Banking Commercial real estate loans
increased $284.8 million from December 31, 2008 to $3.3
billion at December 31, 2009. Variable- and adjustable-
rate loans represented 47% of commercial real estate loans
outstanding at December 31, 2009. Commercial business
loans decreased $57.4 million in 2009 to $449.5 million at
December 31, 2009. TCF continues to expand its commercial
lending activities generally to borrowers located in its
primary markets. With a focus on secured lending, approxi-
mately 99% of TCF’s commercial real estate and commercial
business loans were secured either by properties or other
business assets at December 31, 2009. At December 31,
2009, approximately 92% of TCF’s commercial real estate
loans outstanding were secured by properties located in
its primary markets. Included in TCF’s commercial real
estate loan portfolio as of December 31, 2009, are $32.1
million of loans to residential home builders. At December
31, 2009, the construction and development portfolio had
$13.1 million in loans over 30-days delinquent compared
with $223 thousand at December 31, 2008.
The following tables summarize TCF’s commercial real estate loan portfolio by property type.
At December 31,
 2008
 Construction
 and
(In thousands)    Permanent Development Total
Retail services (1)        $ 792,312 $ 49,117 $ 841,429
Apartments    572,545 13,210 585,755
Ofce buildings    443,509 34,413 477,922
Warehouse/industrial buildings    405,284 18,583 423,867
Hotels and motels    148,502 62,714 211,216
Health care facilities   24,390 1,926 26,316
Residential home builders    36,495 40,959 77,454
Other    270,048 70,149 340,197
Total    $2,693,085 $291,071 $2,984,156
At December 31,
 2008
  Over 30-Day
  Delinquency
  Rate as a
  Number Percentage of
(Dollars in thousands)    Balance of Loans Balance
Retail services (1)     $ 841,429 532 —%
Apartments    585,755 597 .04
Ofce buildings    477,922 260 .53
Warehouse/industrial buildings   423,867 282 —
Hotels and motels   211,216 49 —
Health care facilities   26,316 12 .50
Residential home builders   77,454 75 .43
Other    340,197 223 .02
Total    $2,984,156 2,030 .11%
(1) Primarily retail shopping centers and stores, convenience stores, gas stations and restaurants.