TCF Bank 2006 Annual Report Download - page 3

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While 2006 was TCF’s second best year in its history,
we did not achieve our financial goals. It was a difficult
year for TCF given the interest rate environment. In
July 2006, the yield curve inverted (short-term rates
exceed long-term rates). This is the most difficult interest
rate operating environment for TCF.
Highlights:
• TCF earned $244.9 million in 2006, down 7.6
percent from the previous year. Earnings per share
(EPS) were $1.90, down five percent from the
previous year.
• TCF’s return on average assets (ROA) was 1.74 per-
cent and return on average equity (ROE) was 24.37
percent. TCF continues to be a high performing
financial institution.
• TCF’s stock price closed at $27.42 on December 31,
2006, up one percent from $27.14 per share on
December 31, 2005.
• TCF recently increased its annual dividend to
$.97 per share in 2007, a 5.4 percent increase.
This is the 16th consecutive year we have increased
the dividend.
2006 Annual Report 1
Lynn A. Nagorske, Chief Executive Officer
Dear Stockholders: