TCF Bank 2004 Annual Report Download - page 25

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2004 Annual Report 23
Year Ended Year Ended
December 31, 2003 December 31, 2002 Change
Average
Average Average Yields
Yields Yields and
Average and Average and Average Rates
(Dollars in thousands) Balance Interest(1) Rates Balance Interest(1) Rates Balance Interest(1) (bps)
Assets:
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 101,455 $ 4,511 4.45% $ 154,862 $ 6,934 4.48% $ (53,407) $ (2,423) (3)
Securities available for sale(2) . . . . . . . . . . . . . . . . . . . . 1,891,062 103,821 5.49 1,879,674 118,272 6.29 11,388 (14,451) (80)
Loans held for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 488,634 20,016 4.10 437,702 22,464 5.13 50,932 (2,448) (103)
Loans and leases:
Consumer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,288,040 214,971 6.54 2,712,812 207,492 7.65 575,228 7,479 (111)
Commercial real estate . . . . . . . . . . . . . . . . . . . . . . 1,854,452 108,867 5.87 1,746,207 118,355 6.78 108,245 (9,488) (91)
Commercial business . . . . . . . . . . . . . . . . . . . . . . . . . 445,634 19,020 4.27 435,488 22,699 5.21 10,146 (3,679) (94)
Leasing and equipment finance . . . . . . . . . . . . . . . . . 1,094,532 81,912 7.48 995,672 85,447 8.58 98,860 (3,535) (110)
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,682,658 424,770 6.36 5,890,179 433,993 7.37 792,479 (9,223) (101)
Residential real estate . . . . . . . . . . . . . . . . . . . . . . 1,440,688 88,401 6.14 2,227,537 151,700 6.81 (786,849) (63,299) (67)
Total loans and leases(3) . . . . . . . . . . . . . . . . . . . 8,123,346 513,171 6.32 8,117,716 585,693 7.21 5,630 (72,522) (89)
Total interest-earning assets . . . . . . . . . . . 10,604,497 641,519 6.05 10,589,954 733,363 6.93 14,543 (91,844) (88)
Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,053,073 1,020,550 32,523
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . $11,657,570 $11,610,504 $ 47,066
Liabilities and Stockholders’ Equity:
Non-interest bearing deposits . . . . . . . . . . . . . . . . . . . . $ 2,232,883 $ 1,893,916 $ 338,967
Interest-bearing deposits:
Checking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,064,380 948 .09 915,720 1,479 .16 148,660 (531) (7)
Savings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,847,775 9,298 .50 1,560,539 15,924 1.02 287,236 (6,626) (52)
Money market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 887,273 4,447 .50 919,393 9,737 1.06 (32,120) (5,290) (56)
Subtotal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,799,428 14,693 .39 3,395,652 27,140 .80 403,776 (12,447) (41)
Certificates of deposit . . . . . . . . . . . . . . . . . . . . . . . 1,743,533 42,102 2.41 2,108,708 68,246 3.24 (365,175) (26,144) (83)
Total interest-bearing deposits . . . . . . . . . . . . 5,542,961 56,795 1.02 5,504,360 95,386 1.73 38,601 (38,591) (71)
Total deposits . . . . . . . . . . . . . . . . . . . . . . . 7,775,844 56,795 .73 7,398,276 95,386 1.29 377,568 (38,591) (56)
Borrowings:
Short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . 757,128 9,451 1.25 573,935 9,903 1.73 183,193 (452) (48)
Long-term borrowings . . . . . . . . . . . . . . . . . . . . . . . 1,778,671 94,128 5.29 2,277,974 128,849 5.66 (499,303) (34,721) (37)
Total borrowings . . . . . . . . . . . . . . . . . . . . . . . . . 2,535,799 103,579 4.08 2,851,909 138,752 4.87 (316,110) (35,173) (79)
Total interest-bearing liabilities . . . . . . . . 8,078,760 160,374 1.99 8,356,269 234,138 2.80 (277,509) (73,764) (81)
Total deposits and borrowings . . . . . . . . . . . . . . 10,311,643 160,374 1.56 10,250,185 234,138 2.28 61,458 (73,764) (72)
Other liabilities(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 409,539 442,404 (32,865)
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,721,182 10,692,589 28,593
Stockholders’ equity(4) . . . . . . . . . . . . . . . . . . . . . . . . . . 936,388 917,915 18,473
Total liabilities and stockholders’ equity . . . . . . . . . $11,657,570 $11,610,504 $ 47,066
Net interest income and margin . . . . . . . . . . . . . . . . . . . $ 481,145 4.54% $ 499,225 4.71% $ (18,080) (17)
bps = basis points.
(1) Tax-exempt income was not significant and thus interest income and related yields have not been presented on a tax equivalent basis. Tax-exempt income of $523,000 and $354,000
was recognized during the years ended December 31, 2003 and 2002, respectively.
(2) Average balance and yield of securities available for sale are based upon the historical amortized cost.
(3) Average balance of loans and leases includes non-accrual loans and leases, and is presented net of unearned income.
(4) Average balance is based upon month-end balances.