TCF Bank 2009 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2009 TCF Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

2009 Form 10-K : 47
Consolidated Statements of Income
Year Ended December 31,
(In thousands, except per-share data)  2008 2007

Loans and leases  $847,512 $850,205
Securities available for sale  110,946 109,581
Investments and other  5,937 8,237
Total interest income  964,395 968,023

Deposits  156,774 230,625
Borrowings  213,948 187,221
Total interest expense  370,722 417,846
Net interest income  593,673 550,177
  192,045 56,992
Net interest income after provision for credit losses  401,628 493,185

Fees and service charges  270,739 278,046
Card revenue  103,082 98,880
ATM revenue  32,645 35,620
Subtotal  406,466 412,546
Leasing and equipment nance  55,488 59,151
Other  12,107 18,588
Fees and other revenue  474,061 490,285
Gains on securities, net  16,066 13,278
Gains on sales of branches and real estate – 37,894
Visa share redemption  8,308 –
Total non-interest income  498,435 541,457

Compensation and employee benets  341,203 346,468
Occupancy and equipment  127,953 120,824
Deposit account premiums  16,888 4,849
Advertising and marketing  19,150 16,829
Foreclosed real estate and repossessed assets, net  18,731 5,558
FDIC premiums and assessments  2,990 1,145
Other  150,030 148,863
Subtotal  676,945 644,536
Operating lease depreciation  17,458 17,588
Total non-interest expense  694,403 662,124
Income before income tax expense  205,660 372,518
  76,702 105,710
Income after income tax expense  128,958 266,808
Loss attributable to non-controlling interest  – –
  128,958 266,808
Preferred stock dividends  2,540 –
Non-cash deemed preferred stock dividend  – –
Net income available to common stockholders   $126,418 $266,808

Basic      $ 1.01 $ 2.09
Diluted      $ 1.01 $ 2.09
      $ 1.00 $ .97
See accompanying notes to consolidated nancial statements.