TCF Bank 2011 Annual Report Download - page 56

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The following tables summarize the balance of accruing modified loans as of December 31, 2011 and 2010.
At December 31, 2011
Consumer
Real Estate
and Other Commercial
Leasing and
Equipment
Finance Total(Dollars in thousands)
TDRs $433,078 $ 98,448 $ 776 $532,302
Other loan modifications 13,397 13,318 4,829 31,544
Total accruing loan modifications $446,475 $111,766 $ 5,605 $563,846
Over 60-day delinquency as a percentage of balance:
TDRs 7.00% – % –% 5.69%
Other loan modifications 20.66 – 2.40 9.14
Total accruing loan modifications 7.41 – 2.07 5.89
At December 31, 2010
Consumer
Real Estate
and Other Commercial
Leasing and
Equipment
Finance Total
(Dollars in thousands)
TDRs $337,401 $ 48,838 $ – $386,239
Other loan modifications 24,145 68,484 22,624 115,253
Total accruing loan modifications $361,546 $117,322 $22,624 $501,492
Over 60-day delinquency as a percentage of balance:
TDRs 5.32% –% –% 4.64%
Other loan modifications 9.22 – .55 2.04
Total accruing loan modifications 5.58 – .55 4.05
Non-accrual Loans and Leases Non-accrual
loans and leases decreased $46.9 million, or 13.6%, from
December 31, 2010, primarily due to a $28.6 million
decrease in commercial and leasing and equipment
finance loans and leases as fewer loans and leases were
placed on non-accrual status and customer payments
increased on commercial non-accrual loans in 2011,
compared with 2010, and an $18.1 million decrease in
consumer real estate loans, as fewer loans were placed
on non-accrual status and more loans returned to accrual
status. Consumer real estate loans are charged-off to their
estimated realizable values upon entering non-accrual
status. Any necessary additional reserves are established for
commercial loans, leasing and equipment finance loans and
leases and inventory finance loans when reported as non-
accrual. Most of TCF’s non-accrual loans and past due loans
are secured by real estate. Given the nature of these assets
and the related mortgage foreclosure, property sale and,
if applicable, mortgage insurance claims processes, it can
take 18 months or longer for a loan to migrate from initial
delinquency to final disposition. This resolution process
generally takes much longer for loans secured by real estate
than for unsecured loans or loans secured by other property
primarily due to state real estate foreclosure laws.
Non-accrual loans and leases are summarized in the following table.
At December 31,
(In thousands) 2011 2010 2009 2008 2007
Consumer real estate:
First mortgage lien $129,114 $140,871 $118,313 $ 71,078 $23,750
Junior lien 20,257 26,626 20,846 11,793 5,391
Total consumer real estate 149,371 167,497 139,159 82,871 29,141
Consumer other 15 50 141 65 6
Total consumer real estate and other 149,386 167,547 139,300 82,936 29,147
Commercial real estate 104,744 104,305 77,627 54,615 19,999
Commercial business 22,775 37,943 28,569 14,088 2,658
Total commercial 127,519 142,248 106,196 68,703 22,657
Leasing and equipment finance 20,583 34,407 50,008 20,879 8,050
Inventory finance 823 1,055 771 – –
Total non-accrual loans and leases $298,311 $345,257 $296,275 $172,518 $59,854
38 TCF Financial Corporation and Subsidiaries