TCF Bank 2011 Annual Report Download - page 13

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1997
In 1997, TCF entered the specialty nance market through
its acquisition of Winthrop Resources Corporation. Today,
TCF Specialty Finance is made up of a diverse group of
nationally-oriented businesses and is the fastest growing
division at TCF.
programs. We strongly believe that
maintaining an experienced and
motivated team creates a competitive
advantage and is crucial to enhancing
stockholder value.
TCF also continues to support the
communities in which we serve, both
financially and through volunteerism.
During 2011, TCF and its employees
contributed nearly $2.8 million to
charitable organizations in human
services, education, community
development and the arts. In addition,
numerous TCF employees generously
gave their time by volunteering and
providing leadership to local nonprofit
organizations. TCF and its employees
continue to express a commitment to
make a difference for people in need
and for the communities we serve.
Keys to Success in 2012
In 2011, TCF laid the groundwork for
success in 2012. We have taken proactive
steps to position ourselves for success in
the future. This process will continue into
2012. While 2011 was a transition year for
TCF, 2012 will be a building and investing
year. Below are some of the keys to
success for TCF in 2012:
• Execute strategy of growing assets
through national lending programs.
TCF made significant investments in
this strategy in late 2011 with the
addition of BRP’s inventory finance
program and the acquisition of the
Gateway One auto lending business.
In 2012, we will need to successfully
integrate these businesses to take
advantage of the growth prospects
they provide. Our new management
structure will make this process much
more efficient. We must also continue
to look for additional asset growth
opportunities in specialty finance. Our
proven track record and increased
credibility in the industry will benefit
us with this initiative.
• Implement company-wide, revenue-
producing and expense reduction
strategies. We must successfully
implement various revenue-producing
and expense reduction strategies
throughout the company. Revenue-
producing strategies could include new
deposit account products and features
as well as revenues related to TCF’s
new specialty finance programs.
The implementation of new deposit
account products will be influenced by
the competitive landscape as a whole.
Expense reductions will likely come
from various productivity
enhancements. As the economy
improves, there will also be opportuni-
ties to reduce credit costs, such as
foreclosed real estate expenses.
• Carefully monitor credit quality. It will
be important for TCF to stay true to our
conservative lending philosophy. We
are a secured and diversified lender
with conservative underwriting and this
will continue going forward. We will
continue to extend loan modifications
to qualified borrowers and work
through commercial real estate non-
performing assets in this challenging
environment. In 2012, we expect to see
continued declines in non-performing
assets through sales of real estate
owned, paydowns and loans returning
to accrual status based on performance.
We also expect delinquencies and
charge-offs to remain elevated in the
092011 Annual Report