TCF Bank 2001 Annual Report Download - page 5

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Our stock closed at $47.98 per share at December 31,
2001, up from $44.56 per share at year-end 2000,
an increase of eight percent. Our annualized total
return to investors over the past ten years was almost
29 percent. We have demonstrated that our unique
strategy of convenience banking and de novo expansion
works and the stock price appreciation we have experi-
enced reflects the market’s confidence in our continued
superior performance. Our price-to-earnings ratio
was 17.8 at year-end 2001. We now rank 14th in the
top 50 banks in price-to-earnings ratio.
TCF’s 2001 financial results were highlighted by
solid top-line revenue growth, good credit quality,
increased POWER ASSETS®(consumer, commercial
and leasing credits), increased POWER LIABILITIES®
(core deposits) and moderate non-interest expense
growth. At TCF, we put the customer first and our
philosophy of convenient banking for customers from
varied economic levels, de novo expansion, new pro-
duct development, and focus on core banking activities
is a proven strategy that has worked well for us in the
past and will continue to work well for us in the future.
TOP-LINE REVENUE Top-line revenue is an important
number for us. Top-line revenue, which consists of
net interest income and fee income, was up $86.5
million for 2001, an increase of 11 percent. TCF is
one of the few banks that has shown consistent top-
line revenue growth, which demonstrates that we are
2001 ANNUAL GROWTH RATE OF +15%
2001 ANNUAL GROWTH RATE OF +11%
(Millions of Dollars)
$1.69 $1.76
$2.00
$2.35
$2.70
97 98 99 00 01
$145
$156
$166
$186
$207
97 98 99 00 01
Diluted EPS Growth
Net Income
3