TCF Bank 2007 Annual Report Download - page 3

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2007 Highlights:
•TCF earned a record $266.8 million in 2007, up
$21.9 million, or 8.9 percent, from the previous year.
Earnings per share was a record $2.12, up $.22, or
11.6 percent, from the previous year.
•TCF’s return on average assets was 1.76 percent and
return on average equity was 25.82 percent. TCF
remains a “well-capitalized” financial institution and
continues to be ranked among the highest perform-
ing banks in the country, topping U.S. Banker ’s
Best of the Best: Banking’s Top 100 list in 2007.
•TCF’s stock price closed at $17.93 on December 31,
2007, down 34.6 percent from $27.42 per share on
December 31, 2006. Stock prices for all financial
institutions, including TCF, have been badly battered
since October 2007 as a result of the billion-dollar
losses and write-downs which continue to be
announced by the Big Banks and brokerage compa-
nies. As a result of the depreciated home values and
a widening credit crunch, the market also now fears
an economic slowdown.
•TCF recently increased its dividend to $1.00 per
share in 2008, a 3.1 percent increase. This is the 17th
consecutive year we have increased the dividend.
The major factors affecting our performance in 2007
were as follows:
1. T h i n g s T C F D o e s N o t D o
As stockholders, you should be aware of the risky
activities in which TCF has not participated. These
activities have caused the depressed housing market
and related credit crunch.
TCF does not have:
•Subprime lending programs
•Teaser rate adjustable-rate mortgages (ARMs)
•Option ARMs
•Collateralized Debt Obligations
•Asset-backed commercial paper
•Structured investment vehicles.
2007 Annual Report | page 1Letter to Stockholders
Dear Stockholders:
Lynn A.Nagorske,
Chief Executive Officer