TCF Bank 2004 Annual Report Download - page 87

Corporate Philosophy
•TCF banks a large and diverse customer base. TCF emphasizes con-
venience in banking; we’re open 12 hours a day, seven days a week,
364 days per year. We provide customers innovative products through
multiple banking channels, including traditional and supermarket
branches, TCF EXPRESS TELLER®ATMs, debit cards, phone banking,
and Internet banking.
•TCF operates like a partnership. We’re organized geographically and by
function, with profit center goals and objectives. TCF emphasizes return
on average assets, return on average equity and earnings per share
growth. We know which products are profitable and contribute to these
goals. Local geographic managers are responsible for local business
decisions, business development initiatives, customer relations, and
community involvement. Managers are incented to achieve these goals.
•TCF focuses on growing its large number of low-interest cost checking
accounts by offering convenient products, such as “Totally Free
Checking.” TCF uses the checking account as its core deposit account
to build additional customer relationships.
•TCF earns a significant portion of its profits from the deposit side of
the bank. We accumulate a large number of low cost accounts
through convenient services and products targeted to a broad range
of customers. As a result of the profits we earn from the deposit busi-
ness, we can minimize credit risk on the asset side.
•TCF strives to place The Customer First. We believe providing great
service to our many customers creates value for shareholders.
•TCF utilizes conservative accounting and reporting principles that
accurately and honestly report our financial condition and results
of operations.
•TCF encourages stock ownership by our officers, directors and
employees. We have a mutuality of interest with our shareholders,
and our goal is to earn above-average returns for our shareholders.
•TCF is currently growing primarily through de novo expansion rather
than acquisition. We are growing by starting new businesses, opening
new branches and offering new products and services.
•TCF believes interest-rate risk should be minimized. Interest-rate
speculation does not generate consistent profits and is high risk.
•TCF is primarily a secured lender and emphasizes credit quality over
asset growth. The costs of poor credit far outweigh the benefits of
unwise asset growth.
•TCF places a high priority on the development of technology to enhance
productivity, customer service and new products. Properly applied
technology increases revenue, reduces costs and enhances service.
We centralize paper processing and decentralize the banking process.
•TCF encourages open employee communication and promotes from
within whenever possible. TCF places the highest priority on honesty,
integrity and ethical behavior.
•TCF believes in community participation, both financially and through
volunteerism. We feel a responsibility to help those less fortunate.
•TCF does not discriminate against anyone in employment or the
extension of credit. As a result of TCF’s community banking philos-
ophy, we market to everyone in the communities we service.
The Nancekivell Group, www.nancekivell.com