TCF Bank 2015 Annual Report Download - page 58

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43
Other Real Estate Owned and Repossessed and Returned Assets Other real estate owned and repossessed and
returned assets are summarized in the following table.
At December 31,
(In thousands) 2015 2014 2013 2012 2011
Other real estate owned:(1)
Consumer real estate $ 42,912 $44,932 $47,637 $69,599 $87,792
Commercial real estate 7,070 20,718 21,237 27,379 47,106
Total other real estate owned 49,982 65,650 68,874 96,978 134,898
Repossessed and returned assets 7,969 3,525 3,505 3,510 4,758
Total other real estate owned and repossessed
and returned assets $ 57,951 $69,175 $72,379 $100,488 $139,656
(1) Includes properties owned and foreclosed properties subject to redemption.
Total consumer real estate properties reported in other real estate owned included 297 owned properties and 113
foreclosed properties subject to redemption at December 31, 2015, compared with 277 owned properties and 146
foreclosed properties subject to redemption at December 31, 2014. The increase in owned properties from
December 31, 2014 resulted from the addition of 598 properties, partially offset by sales of 578 properties. The average
length of time of consumer real estate properties sold during 2015 and 2014 was approximately 5.7 months and 5.4
months, respectively, from the date the properties were listed for sale. Consumer real estate loans in process of
foreclosure were $44.5 million and $59.3 million at December 31, 2015 and 2014, respectively.
The changes in the amount of other real estate owned for the years ended December 31, 2015 and 2014 are
summarized in the following tables. The decrease in other real estate owned was primarily due to the decrease in
commercial properties as sales increased and transfers in decreased. Total sales of other real estate owned increased
by $5.9 million in 2015 compared with 2014. Total transfers into other real estate owned decreased by $4.4 million in
2015 compared with 2014.
At or For the Year Ended December 31, 2015
(In thousands) Consumer Commercial Total
Balance, beginning of period $ 44,932 $20,718 $65,650
Transferred in, net of charge-offs 58,339 246 58,585
Sales (54,534) (10,645) (65,179)
Write-downs (8,937) (3,488) (12,425)
Other, net 3,112 239 3,351
Balance, end of period $ 42,912 $7,070 $49,982
At or For the Year Ended December 31, 2014
(In thousands) Consumer Commercial Total
Balance, beginning of period $ 47,637 $21,237 $68,874
Transferred in, net of charge-offs 59,268 3,717 62,985
Sales (55,409) (3,824) (59,233)
Write-downs (7,870) (6,562) (14,432)
Other, net 1,306 6,150 7,456
Balance, end of period $ 44,932 $20,718 $65,650
Liquidity Management TCF manages its liquidity position to ensure that the funding needs of depositors and borrowers
are met promptly and in a cost-effective manner. Asset liquidity arises from the ability to convert assets to cash as well
as from the maturity of assets. Liability liquidity results from the ability of TCF to maintain a diverse set of funding
sources to promptly meet funding requirements.
TCF's Asset & Liability Committee ("ALCO") and the Finance Committee of TCF Financial's Board of Directors have
adopted a Liquidity Management Policy for TCF Bank to direct management of the Company's liquidity risk. See "Item
7A. Quantitative and Qualitative Disclosures about Market Risk" for more information.