TCF Bank 2001 Annual Report Download - page 18

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16
TCF believes that de novo expansion is the most effective way to grow our business. De novo expansion has been the primary driver of
the increased profits and solid growth in our retail operations. Since 1997, TCF has added 193 locations to our convenient branch network.
Many of these branches have now reached profitability and their increased contribution has allowed us to continue our de novo expan-
sion. This conveyor belt of growing profitability will pay for the de novo expansion that we have planned for the future. We are committed
to providing our customers with more convenient banking locations and will continue to do so in 2002 by adding 25 to 30 branches.
Supermarket banking remains a key component in TCF’s de novo expansion efforts; we have the fourth largest supermarket branch
network in the country. Our strong partnerships with Jewel-Osco®and Cub®Foods continue to provide excellent expansion opportuni-
ties. We opened 21 supermarket branches in 2001 and plan to open approximately 15 more in 2002. TCF’s consistent track record of
success in supermarket banking is built on our strong sales culture, coupled with our convenience-based products and services. We
have chosen supermarket partners that appreciate the value of having a bank in the store and work with us to nurture the relation-
ship. Most importantly, TCF management is deeply committed to and focused on our supermarket banking franchise.
As the opportunities for expansion in supermarket branches have slowed down, the year 2002 marks an era of new opportunity for
TCF to add new traditional, stand-alone branches. Several of our markets, especially Detroit and Colorado, present excellent oppor-
tunities and we believe our expansion strategy will work well in these areas. We plan to add 10 to 15 traditional branches across our
markets in 2002.
TCF is committed to being the most convenient bank in the markets we serve. We will continue to look for de novo expansion oppor-
tunities throughout 2002 and beyond.
Michigan’s beautiful new Dixie Highway traditional branch is one of the latest in our de novo expansion strategy. TCF believes that de novo expansion is still the best
way to grow our business. We plan to open 10 to 15 new traditional branches in 2002.
DENOVOEXPANSION