TCF Bank 2009 Annual Report Download - page 72

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56 : TCF Financial Corporation and Subsidiaries
The aggregate amount of loans to non-management
directors of TCF and their related interests was $7.5 million
and $8.5 million at December 31, 2009 and 2008, respec-
tively. During 2009, $804 thousand in new loans were made
and $156 thousand of loans were repaid. All loans to out-
side directors and their related interests were made in the
ordinary course of business on normal credit terms, includ-
ing interest rates and collateral, as those prevailing at the
time for comparable transactions with unrelated persons.
The aggregate amount of loans to executive ofcers of TCF
was $97 thousand and $57 thousand at December 31, 2009
and 2008, respectively. In the opinion of management,
the above mentioned loans to outside directors and their
related interests and executive ofcers do not represent
more than a normal risk of collection.
Future minimum lease payments receivable for direct
nancing, sales-type leases and operating leases as of
December 31, 2009 are as follows.
(In thousands) Total
2010 $ 881,616
2011 641,081
2012 425,724
2013 241,865
2014 95,059
Thereafter 27,414
Total $2,312,759
Note 6. Allowance for Loan and Lease Losses
Following is a summary of the allowance for loan and lease losses and other credit loss reserves and selected statistics.
Year Ended December 31,
(Dollars in thousands)  2008 2007
Balance at beginning of year   $ 80,942 $ 58,543
Charge-offs  (114,800) (52,421)
Recoveries  14,255 17,828
Net charge-offs  (100,545) (34,593)
Provision for credit losses  192,045 56,992
Balance at end of year   $ 172,442 $ 80,942
Other credit loss reserves:
Reserves netted against portfolio asset balances  – –
Reserves for unfunded commitments  1,510 399
Total credit loss reserves   $ 173,952 $ 81,341
Net charge-offs as a percentage of average loans and leases  .78% .30%
Allowance for loan and lease losses as a percentage of total loans and leases at year-end  1.29 .66
Information relating to impaired loans and non-accrual loans and leases is as follows.
At or For the Year Ended December 31,
(In thousands)  2008 2007
Impaired loans: (1)
Non-accrual loans which are impaired  $ 83,471 $25,737
Accruing restructured consumer real estate loans  27,423 4,861
Balance at year-end  110,894 30,598
Related allowance for loan losses, at year-end (2)  24,558 2,718
Average impaired loans  68,283 21,490
Interest income recognized on accruing restructured consumer real estate loans  495 19
Contractual interest on accruing restructured consumer real estate loans (3)  1,331 62
Total non-accrual loans and leases:
Balance at year-end  172,518 59,854
Interest income recognized on loans and leases in non-accrual status  1,956 1,386
Contractual interest on non-accrual loans and leases (3)   $ 17,953 $ 8,114
(1) Impaired loans include non-accrual and restructured commercial real estate and commercial business loans, equipment nance loans, inventory nance loans and
restructured consumer real estate loans.
(2) There were no impaired loans at December 31, 2009, 2008 and 2007 which, if required, did not have a related allowance for loan losses.
(3) Represents interest which would have been recorded had the loans and leases performed in accordance with their original contractual terms.