TCF Bank 2004 Annual Report Download - page 12

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10 TCF Financial Corporation and Subsidiaries
0403020100
Retail Distribution Growth
(number of branches)
352 375 395 401
430
Traditional Branches Supermarket Branches
TCF Lakeshore’s supermarket division reached the billion-dollar mark in
total deposits early in 2004. This division has branches inside Jewel-Osco®
stores, the leading grocery chain by market share in Chicago, and in
certain Cub Foods stores. Not content to be the “most convenient bank”
with seven-day-a-week banking and long hours (84 hours a week in
the supermarkets), TCF has begun remodeling and upgrading many of
its supermarket branches. Certain branches will have a new plasma-
screen merchandising system installed, allowing TCF to combine prod-
uct messages, current promotions, news, weather, and sports
information for the consideration and enjoyment of our customers.
In Michigan, TCF has focused its expansion efforts in the Detroit metro
area with five offices opened in 2004 and eight planned for 2005.
Michigan’s consumer lending division and commercial lending group
achieved double-digit growth in 2004 and plan to expand its number of
lenders in 2005. Also, TCF Michigan recently added 11 business bankers
with plans to add several more to meet its aggressive 2005 goals.
The Colorado franchise in Denver and Colorado Springs is TCF’s fastest
growing market and continues to represent an area of great poten-
tial for future expansion. TCF Colorado now has 32 total branches:
20 traditional branches and 12 supermarket branches. By the end of
2005, TCF Colorado plans to incorporate a business banking division
and open ten new branches.
In addition to our banking franchise, we have a separate leasing and
equipment finance group headquartered in Minnetonka, Minnesota.
TCF has developed an experienced team of equipment finance pro-
fessionals that provide a variety of unique finance solutions to a
diverse group of small to large commercial customers. TCF’s leasing
and equipment finance operations is national in scope with a broad
range of equipment types financed in all 50 states. During 2004, our
leasing and equipment finance portfolio increased 19 percent and new
business volume rose more than 27 percent.
TCF’s holding company and corporate functions provide capital and
centralized management services such as data processing, bank
operations, product development and marketing, finance, treasury
services, employee benefits, legal, compliance, credit review, and
internal audit. This structure gives locally managed banks the flexi-
bility to share, compare and refine new products and services while
enjoying the economies of scale of a much larger organization.
Strategies
TCF’s banking philosophy is based on carefully planned and consistently
executed business strategies. These strategies have become the prin-
ciples by which TCF conducts its business. TCF’s long-term strategies
for growth are somewhat unique among our competitors and have
served, and will continue to serve, our customers and shareholders well.
TCF’s strategies begin with the premise that every customer is valu-
able. We bank a large and diverse customer base. We do not believe
in focusing only on one “profitable” customer segment. Every customer
is potentially profitable and may become more so over time through
cross-sell initiatives. Each of our many customers contributes incre-
mentally to our revenue.