TCF Bank 2000 Annual Report Download - page 6

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4
TCF
for us. It demonstrates that we are growing our core
businesses, not just cutting expenses as many of our
competitors are doing. We believe that growing busi-
nesses generate premium price-to-earnings ratios.
Growth in top-line revenue results from increas-
ing Power Assets and Power Liabilities. Net interest
income growth is driven by a changed balance sheet.
Fee income growth is fueled by expanding the num-
ber of fee income producing products and services
while growing the overall customer base. TCF added
nearly 100,000 new checking accounts in 2000,
bringing our total to 1,131,000. We now have 1.1 mil-
lion debit cards outstanding (the 16th largest Visa
debit card issuer in the United States).
TCF believes in attracting a large number of cus-
tomers from all economic levels. We believe that
each of these customers contributes incrementally
to our profitability. Unlike many of our competi-
tors, we do not believe in the old 80/20 rule which
suggests that banks earn 80 percent of their profits
from the wealthiest 20 percent of the customer base.
At TCF, a big number multiplied by a little num-
ber is a big number.
Power Assets and Power Liabilities We enjoyed record
growth in our Power Assets, up $896.8 million for
the year, a 23 percent increase from year-end 1999.
Commercial lending, consumer lending, and leas-