TCF Bank 2009 Annual Report Download - page 73
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2009 Form 10-K : 57
There were no material commitments to lend additional funds to customers whose loans or leases were classied
as non-accrual at December 31, 2009. At December 31, 2009, accruing loans and leases delinquent for 90 days or more were
$52.1 million, compared with $37.6 million at December 31, 2008.
Note 8. Goodwill and Other Intangible Assets
Goodwill and intangible assets are summarized as follows.
At December 31,
2008
Gross Accumulated Net
(In thousands) Amount Amortization Amount
Amortizable intangible assets:
Other intangibles related to
wholesale banking segment $ – $ – $ –
Unamortizable intangible assets:
Goodwill related to retail
banking segment $141,245 $141,245
Goodwill related to wholesale
banking segment 11,354 11,354
Total $152,599 $152,599
Note 7. Premises and Equipment
Premises and equipment are summarized as follows.
At December 31,
(In thousands) 2008
Land $140,656
Ofce buildings 257,807
Leasehold improvements 60,509
Furniture and equipment 294,790
Subtotal 753,762
Less accumulated depreciation
and amortization 305,936
Total $447,826
TCF leases certain premises and equipment under oper-
ating leases. Net lease expense including utilities and other
operating expenses was $35.3 million, $35.5 million and
$34 million in 2009, 2008 and 2007, respectively.
At December 31, 2009, the total minimum rental pay-
ments for operating leases were as follows.
(In thousands)
2010 $ 27,212
2011 24,645
2012 22,507
2013 21,245
2014 20,171
Thereafter 115,520
Total $231,300
Other intangibles of $1.5 million was recorded as a result
of the acquisition of Fidelity National Capital, Inc. in 2009.
Amortization expense for intangible assets is estimated
to be $172 thousand for 2010, $172 thousand for 2011,
$168 thousand for 2012, $156 thousand for 2013, and $156
thousand for 2014. There was no impairment of goodwill or
intangible assets for the years ended December 31, 2009,
2008, or 2007.