TCF Bank 2001 Annual Report Download - page 13

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shareholder, with just over two million shares, up
some 74 thousand shares in the last year. Our incentive
plans are mostly stock based and continue to be based
on long-term growth in earnings per share. We remain
very optimistic about TCF’s future.
TCF repurchased 3.7 million shares (5 percent)
of stock in 2001, and a total of 18.6 million shares (20
percent) since the beginning of 1998. While the number
of shares we buy remains subject to the availability of
capital, we plan to continue repurchasing shares as long
as TCF stock remains our most attractive investment
opportunity. We consider the return from repurchasing
TCF stock as another hurdle rate for acquisitions.
Again this year we give special thanks to our hard-
working, responsive and dedicated Board of Directors.
Our Board consists largely of entrepreneurial business
people who also own TCF stock. We appreciate their
continued guidance and support.
We also thank our outstanding team of employees,
who truly do put the customer first, for their continued
hard work and dedication. We are truly a bank of ordinary
people achieving extraordinary results.
Thank you for your continued support and invest-
ment in TCF.
William A. Cooper
Chairman of the Board and
Chief Executive Officer
11
2001 ANNUAL GROWTH RATE OF +10%
2001 ANNUAL GROWTH RATE OF +10%
(Thousands)
97 98 99 00 01
97 98 99 00 01
Retail Checking Accounts
Fee Revenue Per Retail
Checking Account
772
913
1,032
1,131
1,249
$124
$143
$168
$190
$209