TCF Bank 2009 Annual Report Download - page 61

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2009 Form 10-K : 45
Item 8. Financial Statements and Supplementary Data
 

The Board of Directors and Stockholders
TCF Financial Corporation:
We have audited the accompanying consolidated statements
of nancial condition of TCF Financial Corporation and
subsidiaries (the Company) as of December 31, 2009 and
2008, and the related consolidated statements of income,
equity, and cash ows for each of the years in the three-
year period ended December 31, 2009. These consolidated
nancial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on
these consolidated nancial statements based on our audits.
We conducted our audits in accordance with the standards
of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether
the nancial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the nancial
statements. An audit also includes assessing the account-
ing principles used and signicant estimates made by
management, as well as evaluating the overall nancial
statement presentation. We believe that our audits provide
a reasonable basis for our opinion.
In our opinion, the consolidated nancial statements
referred to above present fairly, in all material respects,
the nancial position of TCF Financial Corporation and sub-
sidiaries as of December 31, 2009 and 2008, and the results
of their operations and their cash ows for each of the years
in the three-year period ended December 31, 2009, in confor-
mity with U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards
of the Public Company Accounting Oversight Board (United
States), TCF Financial Corporation’s internal control over
nancial reporting as of December 31, 2009, based on criteria
established in Internal Control — Integrated Framework issued
by the Committee of Sponsoring Organizations of the Treadway
Commission (COSO), and our report dated February 16, 2010
expressed an unqualied opinion on the effectiveness of
the Company’s internal control over nancial reporting.
Minneapolis, Minnesota
February 16, 2010