TCF Bank 2012 Annual Report Download - page 23

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Additionally, the Dodd-Frank Act:
• Directed the Federal Reserve to issue rules limiting
debit-card interchange fees for larger banks;
• Removed, after a three-year phase-in period which
began January 1, 2013, trust preferred securities
as a permitted component of a bank holding
company’s Tier 1 capital;
• Eliminated federal preemption for subsidiaries of
national banks and federal savings associations;
• Provided for new disclosure and other requirements
relating to executive compensation and corporate
governance, including requiring an advisory vote on
executive compensation (“Say on Pay”);
• Provided for mortgage reform addressing a customer’s
ability to repay, restricted variable-rate lending by
requiring the ability to repay to be determined for
variable-rate loans by using the maximum rate that
will apply during the first five years of a variable rate
loan, and made more loans subject to requirements
for higher cost loans, new disclosures and certain
other restrictions;
• Permanently increased the maximum amount of
deposit insurance for banks, savings institutions and
credit unions to $250,000 per depositor, retroactive to
January 1, 2008; and allowed depository institutions to
pay interest on business checking accounts, and
• Required publicly-traded bank holding companies
with assets of $10 billion or more to establish a risk
committee of the Board of Directors responsible for
enterprise-wide risk management practices.
Taxation
Federal Taxation The statute of limitations applicable
to TCF’s consolidated federal income tax returns is closed
through 2008.
State Taxation TCF and/or its subsidiaries currently file
tax returns in all states which impose corporate income and
franchise taxes and local tax returns in certain cities and
other taxing jurisdictions. The methods of filing, and the
methods for calculating taxable and apportionable income,
vary depending upon the laws of the taxing jurisdiction.
See “Item 1A. Risk Factors”.
See “Item 7. Management’s Discussion and Analysis —
Consolidated Income Statement Analysis — Income Taxes” and
Notes 1 and 13 of Notes to Consolidated Financial Statements
for additional information regarding TCF’s income taxes.
Available Information
TCF’s website, http://ir.tcfbank.com, includes free
access to Company news releases, investor presentations,
conference calls to discuss published financial results,
TCF’s Annual Report and periodic filings required by the
United States Securities and Exchange Commission (“SEC”),
including annual reports on Form 10-K, quarterly reports on
Form 10-Q, current reports on Form 8-K and amendments
to those reports, as soon as reasonably practicable after
electronic filing of such material with, or furnishing it
to, the SEC. TCF’s Compensation/Nominating/Corporate
Governance Committee and Audit Committee charters,
Corporate Governance Guidelines, Codes of Ethics and
changes to Codes of Ethics and information on all of TCF’s
securities are also available on this website. Stockholders
may request these documents in print free of charge
by contacting the Corporate Secretary at TCF Financial
Corporation, 200 Lake Street East, Mail Code EX0-03-A,
Wayzata, MN 55391-1693.
Item 1A. Risk Factors
Various risks and uncertainties may affect TCF’s business.
Any of the risks described below or elsewhere in this
Annual Report on Form 10-K or TCF’s other SEC filings may
have a material impact on TCF’s financial condition or
results of operations.
TCF’s earnings are significantly affected by
general economic and political conditions.
TCF’s operations and profitability are impacted by general
business and economic conditions in the local markets
in which TCF operates, the U.S. generally and abroad.
Economic conditions have a significant impact on the
demand for TCF’s products and services, as well as the
ability of its customers to repay loans, the value of the
collateral securing loans, the stability of its deposit funding
sources and sales revenue at the end of contractual lease
terms. A significant decline in general economic conditions
caused by inflation, recession, unemployment, changes
in securities markets, changes in housing market prices
or other factors could impact economic conditions and,
in turn, could have a material adverse effect on TCF’s
financial condition and results of operations.
Additionally, adverse economic conditions may result
in a decline in demand for some types of equipment that
{ 2012 Form 10K } { 7 }