TCF Bank 2009 Annual Report Download - page 88
Download and view the complete annual report
Please find page 88 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.72 : TCF Financial Corporation and Subsidiaries
The carrying amounts and fair values of the Company’s remaining nancial instruments are set forth in the following table.
This information represents only a portion of TCF’s balance sheet and not the estimated value of the Company as a whole.
Non-nancial instruments such as the value of TCF’s branches and core deposits, leasing operations and the future revenues from
TCF’s customers are not reected in this disclosure. Therefore, use of this information to assess the value of TCF is limited.
At December 31,
2008
Carrying Estimated
(In thousands) Amount Fair Value
Financial instrument assets:
Cash and due from banks $ 342,380 $ 342,380
Investments 155,725 155,725
Securities available for sale 1,966,104 1,966,104
Loans:
Consumer real estate and other 7,364,340 7,199,684
Commercial real estate 2,984,156 2,860,293
Commercial business 506,887 488,821
Equipment nance loans 789,869 790,970
Inventory nance loans 4,425 4,425
Allowance for loan losses(1) (172,442) –
Total nancial instrument assets $13,941,444 $13,808,402
Financial instrument liabilities:
Checking, savings and money market deposits $ 7,647,069 $ 7,647,069
Certicates of deposit 2,596,283 2,612,874
Short-term borrowings 226,861 226,861
Long-term borrowings 4,433,913 4,964,682
Total nancial instrument liabilities $14,904,126 $15,451,486
Financial instruments with off-balance-sheet risk:(2)
Commitments to extend credit(3) $ 38,730 $ 38,730
Standby letters of credit(4) (105) (105)
Total nancial instruments with
off-balance-sheet risk $ 38,625 $ 38,625
(1) Expected credit losses are included in the estimated fair values.
(2) Positive amounts represent assets, negative amounts represent liabilities.
(3) Carrying amounts are included in other assets.
(4) Carrying amounts are included in accrued expenses and other liabilities.
Company has made estimates of many of these fair values
which are subjective in nature, involve uncertainties and
matters of signicant judgment and therefore cannot be
determined with precision. Changes in assumptions could
signicantly affect the estimated values. Beginning with
the year ended December 31, 2008, the fair value estimates
are determined in accordance with FASC 820.