TCF Bank 2007 Annual Report Download - page 76

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56 | TCF Financial Corporation and Subsidiaries
Note 6. Allowance for Loan and Lease Losses
Following is a summary of the allowance for loan and lease losses and selected statistics.
Year Ended December 31,
(Dollars in thousands) 2007 2006 2005
Balance at beginning of year $ 58,543 $ 55,823 $ 75,393
Provision for credit losses 56,992 20,689 8,586
Charge-offs (52,421) (33,221) (47,904)
Recoveries 17,828 15,252 19,748
Net charge-offs (34,593) (17,969) (28,156)
Balance at end of year $ 80,942 $ 58,543 $ 55,823
Net charge-offs as a percentage of average loans and leases .30% .17% .29%
Allowance for loan and lease losses as a percentage of total loans and leases at year end .66 .52 .55
Information relating to impaired loans and non-accrual loans and leases is as follows.
At or For the Year Ended December 31,
(In thousands) 2007 2006 2005
Impaired loans and leases:
Balance, at year-end $24,770 $17,512 $3,791
Related allowance for loan and lease losses, at year-end (1) 2,718 2,470 1,642
Average impaired loans and leases 21,490 8,169 5,345
Interest income recognized on impaired loans and leases (cash basis) 91 603 76
Other non-accrual loans and leases:
Balance, at year-end 35,084 25,673 25,857
Interest income recognized on non-accrual loans and leases (cash basis) 1,915 978 960
Contractual interest on non-accrual loans and leases (2) 5,724 3,557 2,900
(1) There were no impaired loans and leases at December 31, 2007, 2006 and 2005 which did not have a related allowance for loan and lease losses.
(2) Represents interest which would have been recorded had the loans and leases performed in accordance with their contractual terms during the period.
TCF had $4.9 million of troubled debt restructuring loans
at December 31, 2007. There were no such loans outstanding
at December 31, 2006 and December 31, 2005. There were no
material commitments to lend additional funds to customers
whose loans or leases were classified as non-accrual at
December 31, 2007. At December 31, 2007, accruing loans
and leases delinquent for 90 days or more was $15.4 million,
compared with $12.2 million at December 31, 2006.
Note 7. Premises and Equipment
Premises and equipment are summarized as follows.
At December 31,
(In thousands) 2007 2006
Land $131,942 $118,656
Office buildings 236,893 218,171
Leasehold improvements 57,639 54,474
Furniture and equipment 288,876 273,412
Subtotal 715,350 664,713
Less accumulated depreciation
and amortization 276,898 258,626
Total $438,452 $406,087