TCF Bank 2006 Annual Report Download - page 16

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Both TCF Equipment Finance and
Winthrop Resources Corporation had
an exceptional year in loan and lease
originations and growth. The leasing
and equipment finance portfolio
increased $339 million, or 22 percent,
during 2006. In fact, several market-
ing segments within the portfolio
increased over 30 percent from
December 31, 2005. Both companies
continue to find growth opportunities
in markets where they can be effective
and have a competitive presence. We
are pleased TCF’s leasing and equip-
ment finance business has been
recognized as the 18th largest bank-
owned equipment finance/leasing
company in the U.S. and we expect
continued growth from this business
in 2007 and beyond.
TCF has earned high profits for many
years and as a result has generated
excess capital. We feel the best use of
this capital is to return it to our stock-
holders in the form of either dividends
or stock repurchases. TCF has been
able to increase its dividends for the
past sixteen consecutive years. In
fact, our dividend policy has been
recognized by Standard & Poor’s®and
was added to the Dow Jones U.S. Select
Dividend IndexSM
. TCF’s stock repurchase
program has been active since 1998
and 61.6 million shares have been
repurchased at an average cost of
$18.64 per share. Stock repurchase may
slow in the coming years as TCF may
have to retain more capital to support
its asset growth. Overall, TCF has
returned 93 percent of its net income
to stockholders in dividends and stock
repurchases over the last five years.
TCF consistently exceeds its regulatory
capital requirements in Tier 1, leverage
and risk-based capital. TCF is consid-
ered “well-capitalized” by both the
Office of the Comptroller of the Currency
(OCC) and the Federal Reserve Board,
and has stable or above ratings from
Moody’s®
, Fitch®and Standard & Poor’s®
.
Our Value to Stockholders
Our Value to Stockholders
TCF strives to place The Customer First.
We believe in providing quality prod-
ucts and innovative service to our cus-
tomers, which creates loyalty to TCF
and value for our stockholders. Our
goal is to earn customers’ trust by
satisfying their financial needs, giving
them great service and helping them
achieve their financial goals.
Simple, straightforward and enduring
strategies, which are based on a
well-grounded philosophy coupled with
successful execution and solid man-
agement, have made TCF one of the
banking industry’s performance leaders.
14 TCF Financial Corporation and Subsidiaries
We are
We are Open 7 DaysSM
a week
a week
to ensure our customers can bank
to ensure our customers can bank
when it is convenient for them.
when it is convenient for them.