TCF Bank 2012 Annual Report Download - page 90

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The following table provides interest income recognized on loans and leases in non-accrual status and contractual interest
that would have been recorded had the loans and leases performed in accordance with their original contractual terms.
For the Year Ended December 31,
(In thousands) 2012 2011 2010
Contractual interest due on non-accrual loans and leases $39,232 $37,645 $40,016
Interest income recognized on loans and leases in non-accrual status 9,401 7,371 6,773
Foregone interest income $29,831 $30,274 $33,243
The following table provides information regarding consumer real estate loans to customers currently involved in Chapter 7
and Chapter 13 bankruptcy proceedings which have not yet been discharged or completed by the courts:
At December 31,
(In thousands) 2012 2011
Consumer real estate loans to customers in bankruptcy:
0-59 days delinquent and accruing $69,170 $74,347
60+ days delinquent and accruing 644 1,112
Non-accrual 18,982 17,531
Total consumer real estate loans to customers in bankruptcy $88,796 $92,990
For the years ended December 31, 2012 and 2011,
interest income would have been reduced by approximately
$910 thousand and $919 thousand, respectively, had the
accrual of interest income on the above consumer loans
been discontinued upon notification of bankruptcy.
Loan Modifications for Borrowers with Financial
Difficulties Included within the loans and leases in
previous tables are certain loans that have been modified
in order to maximize collection of loan balances. If, for
economic or legal reasons related to the customer’s
financial difficulties, TCF grants a concession, the modified
loan is classified as a troubled debt restructuring (“TDR”).
TCF held consumer real estate TDR loans of $651.8
million and $479.8 million at December 31, 2012 and 2011,
respectively, of which $478.3 million and $433.1 million
were accruing at December 31, 2012 and 2011, respectively.
TCF also held $236.8 million and $181.6 million of commercial
loan TDR loans at December 31, 2012 and 2011, respectively,
of which $144.5 million and $98.4 million were accruing at
December 31, 2012 and 2011, respectively. The amount of
additional funds committed to consumer real estate and
commercial borrowers in TDR status was $8.6 million and
$8.5 million at December 31, 2012 and 2011, respectively.
In addition, TCF held leasing and equipment finance TDR
loans of $3.8 million and $1.8 million at December 31, 2012
and 2011, respectively, of which $1.1 million and $776
thousand were accruing at December 31, 2012 and 2011,
respectively. At December 31, 2012 and 2011, no additional
funds were committed to leasing and equipment finance
borrowers in TDR status.
When a loan is modified as a TDR, principal balances
are generally not forgiven. Loan modifications are not
reported as TDR loans in calendar years after modification
if the loans were modified at an interest rate equal to
the yields of new loan originations with comparable risk
and the loans are performing based on the terms of the
restructuring agreements. All loans classified as TDR loans
are considered to be impaired.
{ 74 } { TCF Financial Corporation and Subsidiaries }