TCF Bank 2015 Annual Report Download - page 71

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56
Consolidated Statements of Income
Year Ended December 31,
(In thousands, except per-share data) 2015 2014 2013
Interest income:
Loans and leases $ 832,736 $ 820,436 $819,501
Securities available for sale 15,648 11,994 18,074
Securities held to maturity 5,486 5,281 277
Investments and other 38,060 36,518 26,688
Total interest income 891,930 874,229 864,540
Interest expense:
Deposits 48,226 38,385 36,604
Borrowings 23,316 20,215 25,312
Total interest expense 71,542 58,600 61,916
Net interest income 820,388 815,629 802,624
Provision for credit losses 52,944 95,737 118,368
Net interest income after provision for credit losses 767,444 719,892 684,256
Non-interest income:
Fees and service charges 144,999 154,386 166,606
Card revenue 54,387 51,323 51,920
ATM revenue 21,544 22,225 22,656
Subtotal 220,930 227,934 241,182
Gains on sales of auto loans, net 30,580 43,565 29,699
Gains on sales of consumer real estate loans, net 40,964 34,794 21,692
Servicing fee income 31,229 21,444 13,406
Subtotal 102,773 99,803 64,797
Leasing and equipment finance 108,129 93,799 90,919
Other 10,463 10,704 6,196
Fees and other revenue 442,295 432,240 403,094
Gains (losses) on securities, net (297)1,027 964
Total non-interest income 441,998 433,267 404,058
Non-interest expense:
Compensation and employee benefits 457,743 452,942 429,188
Occupancy and equipment 144,962 139,023 134,694
FDIC insurance 20,262 25,123 32,066
Advertising and marketing 22,782 22,943 21,477
Other 186,211 179,904 167,777
Subtotal 831,960 819,935 785,202
Operating lease depreciation 39,409 27,152 24,500
Branch realignment — — 8,869
Foreclosed real estate and repossessed assets, net 23,193 24,567 27,950
Other credit costs, net 185 123 (1,252)
Total non-interest expense 894,747 871,777 845,269
Income before income tax expense 314,695 281,382 243,045
Income tax expense 108,872 99,766 84,345
Income after income tax expense 205,823 181,616 158,700
Income attributable to non-controlling interest 8,700 7,429 7,032
Net income attributable to TCF Financial Corporation 197,123 174,187 151,668
Preferred stock dividends 19,388 19,388 19,065
Net income available to common stockholders $ 177,735 $ 154,799 $132,603
Net income per common share:
Basic $ 1.07 $0.95 $0.82
Diluted $ 1.07 $0.94 $0.82
See accompanying notes to consolidated financial statements.