TCF Bank 2011 Annual Report Download - page 64
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For the year ended December 31, 2011, average total
equity to average assets was 9.24%, compared with 7.83%
for 2010. For the year ended December 31, 2011, tangible
realized common equity to tangible assets was 8.42%,
compared with 7.28% for 2010. Tangible realized common
equity is a non-GAAP measure and represents common
equity less goodwill, other intangible assets, accumulated
other comprehensive income and non-controlling interest
in subsidiaries. Tangible realized common equity was $1.6
billion at December 31, 2011, compared with $1.3 billion
at December 31, 2010. Tangible assets represent common
equity less goodwill and other intangible assets. Tangible
assets were $18.7 billion at December 31, 2011, compared
with $18.3 billion at December 31, 2010. Management
reviews tangible realized common equity to tangible assets
as an ongoing measure and has included this information
because of current interest by investors, rating agencies and
banking regulators. The methodology for calculating tangible
realized common equity may vary between companies.
The following table is a reconciliation of the non-GAAP measure of tangible realized common equity to tangible assets to the
GAAP measure of total equity to total assets.
At December 31,
(Dollars in thousands) 2011 2010
Computation of total equity to total assets:
Total equity $ 1,878,627 $ 1,480,163
Total assets 18,979,388 18,465,025
Total equity to total assets 9.90% 8.02%
Computation of tangible realized common equity to tangible assets:
Total equity $ 1,878,627 $ 1,480,163
Less: Non-controlling interest in subsidiaries 10,494 8,500
Total TCF Financial Corporation stockholders’ equity 1,868,133 1,471,663
Less:
Goodwill 225,640 152,599
Other intangibles 7,134 1,232
Accumulated other comprehensive income 56,826 –
Add:
Accumulated other comprehensive loss – 15,692
Tangible realized common equity $ 1,578,533 $ 1,333,524
Total assets $18,979,388 $18,465,025
Less:
Goodwill 225,640 152,599
Other intangibles 7,134 1,232
Tangible assets $18,746,614 $18,311,194
Tangible realized common equity to tangible assets 8.42% 7.28%
At December 31, 2011, TCF Financial and TCF Bank exceeded their regulatory capital requirements and are considered
“well-capitalized” under guidelines established by the Federal Reserve and the OCC. See Notes 14 and 15 of Notes to
Consolidated Financial Statements.
Tier 1 risk-based capital at December 31, 2011 was $1.7 billion, or 12.67% of risk-weighted assets, compared with $1.5
billion, or 10.47% of risk-weighted assets, at December 31, 2010. Tier 1 common capital at December 31, 2011 was $1.6 billion,
or 11.74% of the risk-weighted assets, compared to $1.3 billion, or 9.59% of risk-weighted assets, at December 31, 2010.
46 TCF Financial Corporation and Subsidiaries