TCF Bank 2005 Annual Report Download - page 105

852005 Annual Report
• TCF emphasizes convenience in banking; we’re open 12 hours a
day, seven days a week, 364 days per year. TCF banks a large and
diverse customer base. We provide customers innovative products
through multiple banking channels, including traditional, super-
market and campus branches, TCF EXPRESS TELLER®and other
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 prof-
itable 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 and retaining its large number of low-
interest cost checking accounts by offering convenient products
with free features, such as “Totally Free Checking” and e-Checking.
TCF uses the checking account as the anchor 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 business, we can minimize credit risk on the asset side.
• 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 strives to place The Customer First. We believe providing great
service helps to retain existing customers, attract new customers,
creates value for our stockholders, and pride in our employees.
• 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 encourages stock ownership by our officers, directors and
employees. We have a mutuality of interest with our stockholders,
and our goal is to earn above-average returns for our stockholders.
• TCF believes interest-rate risk should be minimized. Interest-rate
speculation does not generate consistent profits and is high risk.
• 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 customer service. We centralize back office activities
and decentralize the banking process.
• TCF utilizes conservative accounting and financial reporting
principles that accurately and honestly report our financial con-
dition and results of operations. We believe good accounting
drives good business decision-making.
• 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
philosophy, we market our products and services to everyone
in the communities we serve.
Corporate Philosophy