TCF Bank 2011 Annual Report Download - page 76

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Consolidated Statements of Equity
TCF Financial Corporation
(Dollars in thousands)
Number of
Common
Shares
Issued Preferred
Stock Common
Stock
Additional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
(Loss)/Income
Treasury
Stock
and Other Total
Non-
controlling
Interests Total
Balance, December 31, 2008 130,839,378 $ 348,437 $ 1,308 $ 330,474 $ 927,893 $ (3,692) $(110,644) $ 1,493,776 $ – $ 1,493,776
Change in accounting principle – – – – (27,377) 27,377 – – – –
Subtotal 130,839,378 348,437 1,308 330,474 900,516 23,685 (110,644) 1,493,776 – 1,493,776
Comprehensive income (loss):
Income after income tax expense – – – – 94,269 – – 94,269 (410) 93,859
Other comprehensive loss – – – – – (22,025) – (22,025) – (22,025)
Comprehensive income (loss) – – – – 94,269 (22,025) – 72,244 (410) 71,834
Net investment by non–controlling interest – – – – – – – – 4,803 4,803
Dividends on preferred stock – 710 – – (6,378) – – (5,668) – (5,668)
Dividends on common stock – – – – (50,828) – – (50,828) – (50,828)
Non-cash deemed preferred stock dividend – 12,025 – – (12,025) – – – – –
Redemption of preferred stock – (361,172) – – – – – (361,172) – (361,172)
Issuance of 719,727 common shares – – – (18,638) – – 18,638 – – –
Treasury shares sold to TCF employee
benefit plans, 1,448,640 shares – – – (18,367) – – 37,514 19,147 – 19,147
Cancellation of common shares (481,000) – (5) (818) 243 – – (580) – (580)
Cancellation of common shares for
tax withholding (18,878) – – (250) – – – (250) – (250)
Amortization of stock compensation – – – 8,615 – – – 8,615 – 8,615
Exercise of stock options,
108,800 shares – – – (1,279) – – 2,817 1,538 – 1,538
Stock compensation tax benefits – – – (1,058) – – – (1,058) – (1,058)
Change in shares held in trust for
deferred compensation plans, at cost – – – (848) – – 848 – – –
Cost of issuance of common warrants – – – (402) – – – (402) – (402)
Balance, December 31, 2009 130,339,500 $ – $1,303 $297,429 $ 925,797 $ 1,660 $ (50,827) $1,175,362 $ 4,393 $1,179,755
Comprehensive income (loss):
Income after income tax expense – – – – 150,947 – – 150,947 3,297 154,244
Other comprehensive loss – – – – – (17,352) – (17,352) – (17,352)
Comprehensive income (loss) – – – – 150,947 (17,352) – 133,595 3,297 136,892
Public offering of common stock 12,322,250 – 124 164,443 – – – 164,567 – 164,567
Net investment by non-controlling interest – – – – – – – – 810 810
Dividends on common stock – – – – (27,617) – – (27,617) – (27,617)
Grants of restricted stock, 347,916 shares 20,000 – – (8,491) – – 8,491 – – –
Common shares purchased by TCF
employee benefit plans 442,579 – 4 6,358 – – – 6,362 – 6,362
Treasury shares sold to TCF employee
benefit plans, 757,612 shares – – – (7,893) – – 19,620 11,727 – 11,727
Cancellation of shares of restricted stock (23,723) – – (247) 29 – – (218) – (218)
Cancellation of common shares for
tax withholding (135,594) – (1) (1,946) – – – (1,947) – (1,947)
Amortization of stock compensation – – – 9,534 – – – 9,534 – 9,534
Stock compensation tax benefits – – – 298 – – – 298 – 298
Change in shares held in trust for
deferred compensation plans, at cost – – – 399 – – (399) – – –
Balance, December 31, 2010 142,965,012 $ – $ 1,430 $459,884 $ 1,049,156 $(15,692) $ (23,115) $1,471,663 $ 8,500 $ 1,480,163
Comprehensive income:
Income after income tax expense – – – – 109,394 – – 109,394 4,993 114,387
Other comprehensive income – – – – – 72,518 – 72,518 – 72,518
Comprehensive income – – – – 109,394 72,518 – 181,912 4,993 186,905
Public offering of common stock 15,081,968 – 151 219,515 – – – 219,666 – 219,666
Net distribution to non-controlling interest – – – – – – – – (2,999) (2,999)
Dividends on common stock – – – – (30,772) – – (30,772) – (30,772)
Grants of restricted stock, 1,256,094 shares 1,247,500 – 12 (234) – – 222 – – –
Common shares purchased by TCF
employee benefit plans 1,402,505 – 14 17,957 – – – 17,971 – 17,971
Cancellation of shares of restricted stock (120,886) – (1) (620) 45 – – (576) – (576)
Cancellation of common shares
for tax withholding (209,719) – (2) (3,114) – – – (3,116) – (3,116)
Amortization of stock compensation – – – 11,105 – – – 11,105 – 11,105
Stock compensation tax benefits – – – 280 – – – 280 – 280
Change in shares held in trust for deferred
compensation plans, at cost – – – 10,474 – – (10,474) – – –
Balance, December 31, 2011 160,366,380 $ – $1,604 $715,247 $1,127,823 $ 56,826 $ (33,367) $1,868,133 $10,494 $1,878,627
See accompanying notes to consolidated financial statements.
58 TCF Financial Corporation and Subsidiaries