TCF Bank 2000 Annual Report Download - page 4

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2
TCF
2000 was another good year for TCF. We earned a
record $186.2 million in 2000, our 10th consec-
utive year of record operating earnings. Our diluted
earnings per share increased 17.5 percent to $2.35.
Return on average assets (ROA) was 1.72 percent,
and our return on average realized common equity
(RORE) was 21.53 percent. On a cash basis (per-
haps a better measure of performance), TCF earned
$2.44 per common share, a return on average assets
lettertoour
shareholders
of 1.79 percent and a return on average realized
common equity of 22.40 percent.
Our stock closed at $44.56 per share at
December 31, 2000, up from $24.88 per share at
year-end 1999, an increase of 79 percent. Our
annualized total return to investors over the past
ten years was over 40 percent. Our stock hit a low
of $18 in March of 2000, a buying opportunity that
we took advantage of (TCF purchased 3.2 million