TCF Bank 2007 Annual Report Download - page 113

2007 Annual Report | 93
• TCF emphasizes convenience in bank-
ing; 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,
supermarket 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 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 and retaining
its large number of low-interest cost
checking accounts by offering conven-
ient products with free features, such
as TCF Totally Free Checking and TCF
PLUS e CheckingSM
. 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 serv-
ice helps to retain existing customers,
attract new customers, create value
for our stockholders, and build pride
in our employees. We also respect
customers’ concern about privacy and
know they place their trust in us. TCF
is committed to protecting the private
information of our customers and
retaining that trust is our priority.
• 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 specula-
tion 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 tech-
nology 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 condition and results of oper-
ations. We believe good accounting
drives good business decision-making.
• TCF encourages open employee com-
munication and promotes from within
whenever possible. TCF places the
highest priority on honesty, integrity
and ethical behavior.
• TCF believes in community partici-
pation, 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 commu-
nity banking philosophy, we market
our products and services to everyone
in the communities we serve.
Corporate Philosophy