TCF Bank 2014 Annual Report Download - page 8

in 2014, down from 80 percent just
ve years ago.
Everyone is also anxiously waiting
to see what happens with interest
rates in 2015. We are well positioned
for a rising rate environment.
Approximately 80 percent of our
assets are variable/adjustable rate
or short/medium duration xed rate.
This means that a large portion of
our asset base will re-price as rates
rise. In addition, 64 percent of our
deposits are low or no interest cost.
Our low-cost deposit base becomes
much more valuable in a rising rate
environment. We believe we are set
to become a more protable bank
through a higher net interest margin
when rates rise.
Finally, enterprise risk management
has been a key focus for us. This
function has grown signicantly over
the past year and will continue to
grow as we move into 2015. The goal
of enterprise risk management is to
ensure we are managing all risks of
the company, including credit risk, in
a prudent and responsible manner,
especially given the ever-changing
regulatory landscape. I am very
pleased with the enhancements
we have made in this area.
In Closing
I want to thank Barry Winslow and
Earl Stratton who both announced
their retirements over the past year.
Barry joined TCF in 1987 and most
recently served as Vice Chairman of
Corporate Development. Earl joined
TCF in 1985 and most recently held
the role of Chief Operations Ofcer.
Both have played an extremely
inuential role in TCF’s success over
the past 30 years. They are great
friends and will be missed.
I also want to thank our Board of
Directors for their guidance over the
past year. I especially want to thank
Ray Barton who will retire from the
Board on April 22, 2015. Ray has
served on the Board since 2011 and
we appreciate the leadership he has
provided during his tenure.
Finally, I want to thank our employees
for their hard work during another
challenging year. This is the group
that makes our company great. I
appreciate their dedication and
willingness to do whatever it takes
to put the customer rst, as well as
their contributions in the community.
For example, I am proud to say that
TCF and its employees generously
contributed over $3 million to
charitable organizations in 2014. In
addition, we have been committed
to building a nancially stronger
community through our nancial
education program.
I am very fortunate to have had the
opportunity to lead TCF for the last
30 years. I have enjoyed working
closely with our Board of Directors,
employees, various constituents
and stockholders. I am proud of how
far we have come as a company,
especially through some very
challenging times. While it will be
difcult to walk away as CEO at the
end of the year, I am comforted by
the exceptionally strong manage-
ment team we have in place, the best
I’ve ever worked with. I look forward
to continuing to work with this group
as Chairman of the Board through
2017. The future is bright and in
focus for TCF.
William A. Cooper
Chairman and Chief Executive Ofcer
“As we look ahead, we are
now a company that uses
our high-quality deposit
base to fund loan and
lease originations not only
in our markets, but also
through unique and diverse
national lending platforms.
This strategy, with a focus
on strong enterprise risk
management, will carry
us into 2015 and beyond.”
TCF Financial Corporation and Subsidiaries
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