TCF Bank 2014 Annual Report Download - page 53

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Other Real Estate Owned and Repossessed and Returned Assets Other real estate owned and repossessed and returned
assets are summarized in the following table.
At December 31,
(In thousands) 2014 2013 2012 2011 2010
Other real estate owned:(1)
Consumer real estate $44,932 $47,637 $ 69,599 $ 87,792 $ 90,115
Commercial real estate 20,718 21,237 27,379 47,106 50,950
Total other real estate owned 65,650 68,874 96,978 134,898 141,065
Repossessed and returned assets 3,525 3,505 3,510 4,758 8,325
Total other real estate owned and repossessed
and returned assets $69,175 $72,379 $100,488 $139,656 $149,390
(1) Includes properties owned and foreclosed properties subject to redemption.
Total consumer real estate properties reported in other real estate owned included 277 owned properties and 146 foreclosed
properties subject to redemption at December 31, 2014, compared with 336 owned properties and 143 foreclosed properties
subject to redemption at December 31, 2013. The decrease in owned properties from December 31, 2013 resulted from sales of
647 properties, partially offset by the addition of 588 properties. The average length of time of consumer real estate properties
sold during 2014 was approximately 5.4 months from the date the properties were listed for sale.
The changes in the amount of other real estate owned for the years ended December 31, 2014 and 2013 are summarized in the
following table.
At or For the Year Ended December 31, 2014
(In thousands) Consumer Commercial Total
Balance, beginning of period $ 47,637 $21,237 $ 68,874
Transferred in, net of charge-offs 59,268 3,717 62,985
Sales (55,409) (3,824) (59,233)
Write-downs (7,870) (6,562) (14,432)
Other, net 1,306 6,150 7,456
Balance, end of period $ 44,932 $20,718 $ 65,650
At or For the Year Ended December 31, 2013
(In thousands) Consumer Commercial Total
Balance, beginning of period $ 69,599 $27,379 $ 96,978
Transferred in, net of charge-offs 67,934 13,808 81,742
Sales (88,004) (8,969) (96,973)
Write-downs (7,010) (8,247) (15,257)
Other, net 5,118 (2,734) 2,384
Balance, end of period $ 47,637 $21,237 $ 68,874
Transfers into other real estate owned decreased by $18.8 million in 2014 compared with 2013. Sales of other real estate owned
decreased by $37.7 million in 2014 compared with 2013.
Liquidity Management TCF manages its liquidity position to ensure that the funding needs of depositors and borrowers are
met promptly and in a cost-effective manner. Asset liquidity arises from the ability to convert assets to cash as well as from the
maturity of assets. Liability liquidity results from the ability of TCF to maintain a diverse set of funding sources to promptly meet
funding requirements.
TCF Bank’s management Asset & Liability Committee (‘‘ALCO’’) and the Finance Committee of the TCF Financial Board of
Directors have adopted a Liquidity Management Policy to direct management of the Company’s liquidity risk. See
‘‘Item 7A. Quantitative and Qualitative Disclosures about Market Risk’’ for more information.
TCF Bank had $767.0 million and $550.0 million of net liquidity qualifying interest-bearing deposits at the Federal Reserve Bank at
December 31, 2014 and 2013, respectively. Interest-bearing deposits held at the Federal Reserve Bank and unencumbered
securities were $1.4 billion and $1.1 billion at December 31, 2014 and 2013, respectively.
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