TCF Bank 2007 Annual Report Download - page 15

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2007 Annual Report | page 13Business Highlights
In addition to our banking franchise, we have a growing
leasing and equipment finance business. TCF Equipment
Finance generates new business through a diverse group of
marketing segments. It provides financing solutions for small
and mid-size companies through vendor programs, manufac-
turers, distributors, and franchise organizations. Winthrop
Resources Corporation focuses on providing customized,
high technology lease financing to meet the special needs
of its customers. Both companies are national in scope,
collectively financing a broad range of equipment types in
all 50 states and to a limited extent in foreign countries.
TCF leasing and equipment finance had an exceptional year
in loan and lease originations and growth. The leasing and
equipment finance portfolio increased $286 million, or 16
percent, during 2007. 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 equipment 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.
TCF utilizes conservative accounting
and financial reporting principles
that accurately and honestly report
our financial condition and results of
operations. We believe good accounting
drives good business decision-making.
TCF has frequently been recognized by banking periodicals
for its conservative and in depth reporting of the financial
condition of the bank. We take pride in our ability to provide
detailed financial reporting via our sophisticated profit center
reporting system and conservative accounting policies and
procedures. Over the years, this system has been refined and
expanded. As a result, management can get a clear picture
of where profits are being generated – down to the branch
and product level – and use this intelligence to make wise
business decisions.
TCF believes that long-term success in banking is based on
conservative strategies that are efficiently and effectively
executed. At TCF, we believe we have taken a conservative
business operating approach to banking for many years.
Simply put, TCF is in the business of banking and we know
our business well.