TCF FINANCIAL CORP - FORM 8-K - EX-99.1

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NEWS RELEASE

Exhibit 99.1

CONTACT: Jason Korstange

(952) 745-2755

www.tcfbank.com

FOR IMMEDIATE RELEASE

TCF FINANCIAL CORPORATION 200 Lake Street East, Wayzata, MN 55391-1693

TCF Reports 21st Consecutive Year of Net Income – Earns $109.4 Million

2011 HIGHLIGHTS

· Diluted earnings per common share of 71 cents

· Net income of $109.4 million

· Net interest margin of 3.99 percent

· Average deposits increased $404.3 million, or 3.5 percent

· Non-performing assets declined $53.1 million, or 10.9 percent

· Increased total equity by $398.5 million, Tier 1 common capital increased 18.4 percent to 11.74 percent of risk-weighted assets

FOURTH QUARTER HIGHLIGHTS

· Diluted earnings per common share of 10 cents

· Net income of $16.4 million

· Net interest margin of 3.92 percent

· Non-performing assets declined $4.9 million from the third quarter of 2011

· Completed acquisition of Gateway One Lending & Finance, LLC

· Announced quarterly cash dividend of 5 cents per common share, payable February 29, 2012

Earnings Summary													Table 1

($ in thousands, except per-share data)							Percent Change
	4Q 2011		3Q 2011		4Q 2010		4Q11 vs 3Q11	4Q11 vs 4Q10	YTD 2011		YTD 2010		Percent Change
Net income	$16,443		$32,255		$33,873		(49.0)%	(51.5)%	$109,394		$150,947		(27.5)%
Diluted earnings per common share	.10		.20		.24		(50.0)	(58.3)	.71		1.08		(34.3)

Financial Ratios (1)
Return on average assets	.37	%	.71	%	.75	%			.61	%	.85	%
Return on average common equity	3.55		7.12		9.09				6.32		10.67
Net interest margin	3.92		3.96		4.05				3.99		4.15
Net charge-offs as a percentage of average loans and leases	1.63		1.48		1.75				1.45		1.47

(1) Annualized.

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WAYZATA, MN, January 24, 2012 – TCF Financial Corporation (“TCF”) (NYSE: TCB) today reported net income for the fourth quarter of 2011 of $16.4 million, compared with $33.9 million in the fourth quarter of 2010 and $32.3 million in the third quarter of 2011. Diluted earnings per common share was 10 cents for the fourth quarter of 2011, compared with 24 cents in the fourth quarter of 2010 and 20 cents in the third quarter of 2011. As previously reported, TCF elected to change its method of accounting for defined benefit retirement plans in 2011. All prior periods have been retrospectively restated for this accounting change.

Net income for the year ended December 31, 2011 was $109.4 million, compared with $150.9 million for 2010. Diluted earnings per common share for the year ended December 31, 2011 was 71 cents, compared with $1.08 for 2010.

TCF declared a quarterly cash dividend of five cents per common share payable on February 29, 2012 to stockholders of record at the close of business on January 27, 2012.

Chairman’s Statement

“TCF’s 21st consecutive year of profitability was impacted by the full effect of the Durbin Amendment, start-up costs related to specialty finance and a sluggish economy,” said William A. Cooper, Chairman and Chief Executive Officer. “Despite non-performing assets declining for a fifth consecutive quarter, credit quality remains a challenge in the current environment and is delaying TCF’s return to more normal levels of provision. While the fourth quarter was not as profitable for us as other quarters during this economic cycle, we are excited about the strategic changes that have begun at TCF.”

“As we begin the new year, we are encouraged by the potential for strong asset growth as we reposition TCF for the future. We will continue to implement various revenue-producing and expense reduction strategies throughout the company to mitigate the impact of the current regulatory changes as well as maintain our focus on working through potential problem loans to minimize credit costs. I am pleased with the new direction in which TCF is headed and optimistic about our ability to increase shareholder value in 2012.”

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Total Revenue															Table 2

							Percent Change
($ in thousands)	4Q 2011		3Q 2011		4Q 2010		4Q11 vs 3Q11		4Q11 vs 4Q10		YTD 2011		YTD 2010		Percent Change
Net interest income	$173,434		$176,064		$174,286		(1.5)	%	(.5)	%	$ 699,688		$ 699,202		.1%
Fees and other revenue:
Fees and service charges	51,002		58,452		61,480		(12.7)		(17.0)		219,363		273,181		(19.7)
Card revenue	13,643		27,701		27,625		(50.7)		(50.6)		96,147		111,067		(13.4)
ATM revenue	6,608		7,523		6,985		(12.2)		(5.4)		27,927		29,836		(6.4)
Total banking fees	71,253		93,676		96,090		(23.9)		(25.8)		343,437		414,084		(17.1)
Leasing and equipment finance	18,492		21,646		23,402		(14.6)		(21.0)		89,167		89,194		N.M.
Other	1,570		786		817		99.7		92.2		3,434		5,584		(38.5)
Total fees and other revenue	91,315		116,108		120,309		(21.4)		(24.1)		436,038		508,862		(14.3)
Subtotal	264,749		292,172		294,595		(9.4)		(10.1)		1,135,726		1,208,064		(6.0)
Gains on securities, net	5,842		1,648		21,185		N.M.		(72.4)		7,263		29,123		(75.1)
Gains on sales of loans	1,133		-		-		N.M.		N.M.		1,133		-		N.M.
Total revenue	$271,724		$293,820		$315,780		(7.5)		(14.0)		$1,144,122		$1,237,187		(7.5)

Net interest margin(1)	3.92	%	3.96	%	4.05	%					3.99	%	4.15	%
Fees and other revenue as a % of total revenue	33.61		39.52		38.10						38.11		41.13

N.M. = Not meaningful.
(1) Annualized.

Net Interest Income

· Net interest income for the fourth quarter of 2011 decreased $852 thousand, or .5 percent, compared with the fourth quarter of 2010 and $2.6 million, or 1.5 percent, compared with the third quarter of 2011. The decrease in net interest income from the fourth quarter of 2010 was primarily due to the following changes in loans and leases: reduced levels of higher yielding fixed-rate consumer real estate loans and decreases in leasing and equipment finance and commercial real estate portfolio balances and average yields, partially offset by reductions in the average deposit rates. The decrease in net interest income from the third quarter of 2011 was primarily due to the following changes in loans and leases: lower average balances in inventory finance, commercial real estate and consumer real estate loans.

· Net interest margin in the fourth quarter of 2011 was 3.92 percent, compared with 4.05 percent in the fourth quarter of 2010 and 3.96 percent in the third quarter of 2011. The decrease in net interest margin from both periods was primarily due to increased asset liquidity and decreased levels of higher yielding loans and leases as a result of the lower interest rate environment. These changes were partially offset by a lower average cost of deposits and borrowings.

· TCF maintained a high level of asset liquidity during the fourth quarter of 2011, which had an impact on net interest margin. Interest-bearing deposits held at the Federal Reserve and unencumbered securities

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were $1.4 billion at December 31, 2011, a decrease of $72 million from the third quarter of 2011 and an increase of $905 million from the fourth quarter of 2010. Our strong liquidity position reduced net interest margin percentage for the fourth quarter of 2011 by 15 basis points, compared with the fourth quarter of 2010, and by 2 basis points from the third quarter of 2011.

Non-interest Income

· Banking fees and service charges in the fourth quarter of 2011 were $51 million, down $10.5 million, or 17 percent, from the fourth quarter of 2010 and down $7.5 million, or 12.7 percent, from the third quarter of 2011. The decline in banking fees and revenues from the fourth quarter of 2010 was primarily due to changes in customer behavior and increased levels of checking account attrition, some of which is in connection with new fees and service charges introduced in the fourth quarter of 2011. The decline from the third quarter of 2011 was primarily due to changes in customer behavior, a lower number of checking accounts and seasonality of items processed.

· Card revenues were $13.6 million in the fourth quarter of 2011, down $14 million, or 50.6 percent, from the fourth quarter of 2010 and down $14.1 million, or 50.7 percent, from the third quarter of 2011. Compared with the fourth quarter of 2010 and third quarter of 2011, the average interchange rate per transaction decreased slightly more than 50 percent due to new debit card interchange regulations which took effect on October 1, 2011.

· Leasing and equipment finance revenues were $18.5 million in the fourth quarter of 2011, down $4.9 million, or 21 percent, from the fourth quarter of 2010 and down $3.2 million, or 14.6 percent, from the third quarter of 2011. Decreases from both the fourth quarter of 2010 and the third quarter of 2011 were attributable to lower levels of customer initiated lease activity.

· Subsequent to the acquisition of Gateway One Lending & Finance (“Gateway One”) on November 30, 2011, TCF sold $37.4 million of auto loans and recognized $1.1 million in associated gains.

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Loans and Leases

Average Loans and Leases										Table 3

				Percent Change
($ in thousands)	4Q 2011	3Q 2011	4Q 2010	4Q11 vs 3Q11		4Q11 vs 4Q10		YTD 2011	YTD 2010	Percent Change
Consumer real estate
First mortgage lien	$ 4,771,104	$ 4,808,881	$ 4,924,399	(.8)	%	(3.1)	%	$ 4,820,354	$ 4,934,257	(2.3)	%
Junior lien	2,161,947	2,176,940	2,272,857	(.7)		(4.9)		2,192,927	2,296,400	(4.5)
Total	6,933,051	6,985,821	7,197,256	(.8)		(3.7)		7,013,281	7,230,657	(3.0)
Consumer other	19,386	18,183	23,283	6.6		(16.7)		19,687	26,577	(25.9)
Total consumer	6,952,437	7,004,004	7,220,539	(.7)		(3.7)		7,032,968	7,257,234	(3.1)
Commercial	3,476,660	3,564,198	3,650,906	(2.5)		(4.8)		3,565,085	3,687,024	(3.3)
Leasing and equipment finance	3,043,329	3,066,208	3,155,472	(.7)		(3.6)		3,074,207	3,056,006	.6
Inventory finance	766,885	826,198	803,157	(7.2)		(4.5)		856,271	677,214	26.4)
Total	$14,239,311	$14,460,608	$14,830,074	(1.5)		(4.0)		$14,528,531	$14,677,478	(1.0)

N.M. Not meaningful

· Average consumer real estate loan balances decreased $264.2 million, or 3.7 percent, from the fourth quarter of 2010 and declined $52.8 million, or .8 percent, from the third quarter of 2011. Decreases reflect a decline in production of new loans, as marketplace yields available for fixed-rate loans are not as attractive to TCF versus variable-rate loans at their current levels.

· Average fixed-rate consumer real estate loans decreased $346.5 million from the fourth quarter of 2010 and $64.7 million from the third quarter of 2011, while average variable-rate consumer real estate loans increased $82.3 million from the fourth quarter of 2010 and $11.9 million from the third quarter of 2011. Variable-rate loans comprised 35 percent of total consumer real estate loans at December 31, 2011, up from 33 percent at December 31, 2010 and 34.5 percent at September 30, 2011.

· Average commercial loan balances in the fourth quarter of 2011 decreased $174.2 million, or 4.8 percent, from the fourth quarter of 2010 and decreased $87.5 million, or 2.5 percent, from the third quarter of 2011. The decreases for both periods were primarily due to higher levels of payments in excess of new origination volume.

· Average leasing and equipment finance loan and lease balances in the fourth quarter of 2011 decreased $112.1 million, or 3.6 percent, from the fourth quarter of 2010 and $22.9 million, or .7 percent, from the third quarter of 2011. The decrease from both periods was primarily due to runoff of acquired portfolios, partially offset by growth in core market segments. Leasing and equipment finance originations of $1.5 billion during 2011 represent an increase of $224.2 million, or 17.8 percent, compared with 2010.

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· Average inventory finance loans were $766.9 million in the fourth quarter of 2011, a decrease of $36.3 million, or 4.5 percent, from the fourth quarter of 2010 and $59.3 million, or 7.2 percent, from the third quarter of 2011. The decrease from the fourth quarter of 2010 was primarily due to the termination of a lawn and garden program and the transitioning of an electronics and appliance program to a servicing-only program. The decrease from the third quarter of 2011 was primarily due to the termination of the lawn and garden program.

· Gateway One provides strong growth potential due to the large auto lending marketplace (2nd largest consumer finance market in the U.S.). Auto loans, which are included in consumer other and loans and leases held for sale, are expected to grow throughout 2012 while Gateway One transitions from an originate-to-sell model to an originate-to-hold model. Gateway One increased its portfolio of managed loans, including loans held for investment, loans held for sale and loans sold and serviced, to $437.7 million at December 31, 2011 from $416.1 million at November 30, 2011.

· TCF increased small business lending 2.5 percent since the fourth quarter of 2010 while small business lending across the U.S. declined 3.8 percent through the third quarter of 2011.

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Credit Quality

· Overall favorable trends in non-performing assets continue and over 60-day delinquencies and net charge-offs remain below peak 2010 levels.

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Credit Quality Summary of Performing and Underperforming Loans and Leases													Table 5
							60+ Days
($ in thousands)	Performing Loans and Leases						Delinquent and		Accruing		Non-accrual		Total Loans
December 31, 2011:	Non-classified		Classified(1)		Total		Accruing(2)		TDRs		Loans and Leases		and Leases
Consumer real estate and other	$	6,271,575	$	-	$	6,271,575	$	79,765	$	433,078	$	149,386	$	6,933,804
Commercial	2,987,876		234,501		3,222,377		1,148		98,448		127,519		3,449,492
Leasing and equipment finance	3,093,194		21,451		3,114,645		6,255		776		20,583		3,142,259
Inventory finance	616,677		7,040		623,717		160		-		823		624,700
Total loans and leases	$	12,969,322	$	262,992	$	13,232,314	$	87,328	$	532,302	$	298,311	$	14,150,255
Percent of total loans and leases	91.6%		1.9%		93.5%		.6%		3.8%		2.1%		100.0%

							60+ Days
($ in thousands)	Performing Loans and Leases						Delinquent and		Accruing		Non-accrual		Total Loans
September 30, 2011:	Non-classified		Classified(1)		Total		Accruing(2)		TDRs		Loans and Leases		and Leases
Consumer real estate and other	$	6,405,059	$	-	$	6,405,059	$	71,179	$	378,773	$	148,898	$	7,003,909
Commercial	2,969,048		304,613		3,273,661		1,266		87,610		133,260		3,495,797
Leasing and equipment finance	2,953,215		28,574		2,981,789		4,709		860		24,437		3,011,795
Inventory finance	819,727		7,102		826,829		308		-		1,077		828,214
Total loans and leases	$	13,147,049	$	340,289	$	13,487,338	$	77,462	$	467,243	$	307,672	$	14,339,715
Percent of total loans and leases	91.7%		2.4%		94.1%		.5%		3.3%		2.1%		100.0%

							60+ Days
	Performing Loans and Leases						Delinquent and		Accruing		Non-accrual		Total Loans
December 31 , 2010:	Non-classified		Classified(1)		Total		Accruing(2)		TDRs		Loans and Leases		and Leases
Consumer real estate and other	$	6,613,610	$	-	$	6,613,610	$	76,711	$	337,401	$	167,547	$	7,195,269
Commercial	3,091,911		354,185		3,446,096		9,021		48,838		142,248		3,646,203
Leasing and equipment finance	3,073,347		35,695		3,109,042		11,029		-		34,407		3,154,478
Inventory finance	785,245		5,710		790,955		344		-		1,055		792,354
Total loans and leases	$	13,564,113	$	395,590	$	13,959,703	$	97,105	$	386,239	$	345,257	$	14,788,304
Percent of total loans and leases	91.7%		2.7%		94.4%		.7%		2.6%		2.3%		100.0%

(1) Excludes classified loans and leases that are 60+ days delinquent and accruing or accruing TDRs.
(2) Excludes accruing TDRs that are 60+ days delinquent.

At December 31, 2011:

· The combined balance of performing classified loans and leases, over 60-day delinquent and accruing loans and leases, accruing troubled debt restructurings (“TDR”) and non-accrual loans and leases was $1.2 billion at December 31, 2011, a decrease of $11.7 million from September 30, 2011, down for the fourth consecutive quarter. This was primarily due to decreases in classified and non-accrual commercial real estate loans, partially offset by increases in accruing TDRs in both the commercial real estate and consumer real estate portfolios.

· Over 60-day delinquency rate was .85 percent, up from .80 percent at December 31, 2010 and up from .75 percent at September 30, 2011. The increase from the fourth quarter of 2010 and from the third quarter of 2011 was primarily due to increases in consumer real estate first mortgage delinquencies, partially offset by decreases in commercial real estate delinquencies.

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· Total non-accrual loans and leases and other real estate owned (non-performing assets) were $433.2 million at December 31, 2011, a decrease of $53.1 million, or 10.9 percent, from December 31, 2010 and a decrease of $4.9 million, or 1.1 percent, from September 30, 2011, the fifth consecutive quarter of declining non-performing assets.

· Non-accrual loans and leases were $298.3 million at December 31, 2011, a decrease of $46.9 million, or 13.6 percent, from December 31, 2010 and a decrease of $9.4 million, or 3 percent, from September 30, 2011. The decrease from December 31, 2010 was primarily due to a $28.6 million decrease in commercial and leasing and equipment finance non-accrual loans and leases as a result of fewer loans and leases entering non-accrual status and increased customer payments on commercial non-accrual loans in 2011, compared with 2010, and an $18.1 million decrease in consumer real estate non-accrual loans, as fewer loans were placed on non-accrual status and more loans returned to accrual status. The decrease from September 30, 2011 was primarily due to a $5.7 million decrease in commercial non-accrual loans as a result of increased customer payments received during the fourth quarter of 2011. TCF continues to experience improvements in non-accrual loan and lease balances as additions are down $72.1 million and loans returning to accrual status were up $29.3 million for the year ended December 31, 2011, compared with the prior year.

· Other real estate owned was $134.9 million at December 31, 2011, a decrease of $6.2 million from December 31, 2010 and an increase of $4.5 million from September 30, 2011. The decrease from December 31, 2010 was primarily due to valuation writedowns on commercial real estate properties combined with a decrease in consumer properties. The increase from September 30, 2011 was primarily due to increased transfers from non-accrual to other real estate owned in commercial real estate during the fourth quarter of 2011.

· Consumer real estate TDRs include loans where a payment modification (but not a reduction of principal) has been granted to a residential real estate customer. Performing consumer real estate TDRs have a weighted average yield of 3.7 percent, carry a 13.5 percent reserve and 7 percent are over 60-days delinquent at December 31, 2011.

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· Commercial TDRs include loans where a payment or other modification (but not a reduction of principal) has been granted. Performing commercial TDRs have a weighted average yield of 5.6 percent. There are no commercial TDRs over 60-days delinquent at December 31, 2011.

Allowance for Loan and Lease Losses

Credit Quality Summary

Table 6

($ in thousands)

Percent Change

4Q11 vs

YTD

Percent

Allowance for Loan and Lease Losses

2011

2010

3Q11

4Q10

2011

2010

Change

Balance at beginning of period

254,325

255,472

253,120

(0.4) %

0.5 %

265,819

244,471

8.7

Charge-offs

(62,973)

(57,761)

(69,913)

9.0

(9.9)

(230,295)

(237,063)

(2.9)

Recoveries

5,051

4,359

4,966

15.9

1.7

19,313

21,974

(12.1)

Net charge-offs

(57,922)

(53,402)

(64,947)

8.5

(10.8)

(210,982)

(215,089)

(1.9)

Provision for credit losses

59,249

52,315

77,646

13.3

(23.7)

200,843

236,437

(15.1)

Other

(60)

N.M.

(8)

N.M.

Balance at end of period

255,672

254,235

265,819

(3.8)

255,672

265,819

(3.8)

Net charge-offs as a percentage of

average loans and leases (1)

Consumer real estate and other:

First mortgage lien

1.94

2.29

1.88

(35) bps

6 bps

1.95

1.55

40 bps

Junior lien

2.63

2.99

2.37

(36)

2.69

2.33

Total consumer real estate

2.15

2.51

2.04

(36)

2.18

1.80

Total consumer real estate and other

2.23

2.59

2.10

(36)

2.23

1.86

Commercial

1.79

.57

2.04

122

(25)

1.15

1.31

(16)

Leasing and equipment finance

.46

.36

.99

(53)

.41

1.00

(59)

Inventory finance

.03

.13

.28

(10)

(25)

.10

.17

(7)

Total

1.63

1.48

1.75

(12)

1.45

1.47

(2)

Allowance as a percentage of period

end loans and leases

1.81

1.77

1.80

1.81

1.80

Ratio of allowance to net charge-offs (1)

1.1

1.2

1.0

1.2

N.M. = Not meaningful.

(1) Annualized.

At December 31, 2011:

· Allowance for loan and lease losses was $255.7 million, or 1.81 percent of loans and leases, compared with $265.8 million, or 1.80 percent, at December 31, 2010 and $254.3 million, or 1.77 percent, at September 30, 2011.

For the quarter ended December 31, 2011:

· Provision for credit losses was $59.2 million, down from $77.6 million in the fourth quarter of 2010 and up from $52.3 million recorded in the third quarter of 2011. The decrease from the fourth quarter of 2010 was primarily due to decreased net charge-offs and reserves in the commercial real estate and leasing and equipment finance portfolios. The increase from the third quarter of 2011 was primarily due to increased net charge-offs in the commercial portfolio.

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· Net loan and lease charge-offs were $57.9 million, or 1.63 percent, annualized, of average loans and leases, down from $64.9 million, or 1.75 percent, annualized, in the fourth quarter of 2010 and up from $53.4 million, or 1.48 percent, annualized, in the third quarter of 2011. The decrease from the fourth quarter of 2010 was primarily due to decreases in net charge-offs in commercial real estate and leasing and equipment finance, partially offset by increases in net charge-offs in consumer real estate. The increase from the third quarter of 2011 was primarily due to increases in commercial real estate net charge-offs on apartments, retail services, hotels and motels and commercial business net charge-offs.

Deposits

Average Deposits								Table 7
				Percent Change
($ in thousands)	4Q 2011	3Q 2011	4Q 2010	4Q11 vs 3Q11	4Q11 vs 4Q10	YTD 2011	YTD 2010	Percent Change

Checking	$ 4,449,640	$ 4,475,567	$ 4,358,771	(.6)%	2.1%	$ 4,499,211	$ 4,408,853	2.0%
Savings	5,878,392	5,812,187	5,412,094	1.1	8.6	5,692,324	5,429,416	4.8
Money market	662,024	650,598	643,801	1.8	2.8	658,693	656,691	.3
Subtotal	10,990,056	10,938,352	10,414,666	.5	5.5	10,850,228	10,494,960	3.4
Certificates	1,112,735	1,114,934	1,040,348	(.2)	7.0	1,103,231	1,054,179	4.7
Total deposits	$12,102,791	$12,053,286	$11,455,014	.4	5.7	$11,953,459	$11,549,139	3.5

Total new checking accounts	94,321	119,616	71,225	(21.1)%	32.4%	431,677	418,670	3.1%
Average interest rate on deposits (1)	.32%	.39%	.46%			.38%	.53%

(1) Annualized.

· Total average deposits increased $647.8 million, or 5.7 percent, from the fourth quarter of 2010 primarily due to increases in savings account balances and checking account production as a result of various targeted marketing campaigns. Average savings balances increased $466.3 million, or 8.6 percent, from the fourth quarter of 2010. Total new checking accounts increased 32.4 percent from the fourth quarter of 2010. Total average deposits increased $49.5 million, or .4 percent from the third quarter of 2011, primarily due to increases in average savings account balances, partially offset by seasonal decreases in checking account balances.

· The average interest cost of deposits in the fourth quarter of 2011 was .32 percent, down 14 basis points from the fourth quarter of 2010 and down 7 basis points from the third quarter of 2011. The decrease from both periods was primarily due to pricing strategies on certain deposit products. The weighted average interest rate on deposits was .29 percent at December 31, 2011.

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Non-interest Expense

Non-interest Expense												Table 8

						Percent Change
($ in thousands)	4Q 2011		3Q 2011		4Q 2010	4Q11 vs 3Q11		4Q11 vs 4Q10		YTD 2011	YTD 2010	Percent Change
Compensation and employee benefits	$ 82,595		$ 87,758		$ 82,843	(5.9)	%	(.3)	%	$348,792	$346,072	.8%
Occupancy and equipment	32,366		31,129		30,968	4.0		4.5		126,437	126,551	(.1)
FDIC insurance	6,647		7,363		7,398	(9.7)		(10.2)		28,747	23,584	21.9
Deposit account premiums	6,482		7,045		1,688	(8.0)		N.M.		22,891	17,304	32.3
Advertising and marketing	2,250		1,145		3,154	96.5		(28.7)		10,034	13,062	(23.2)
Other	39,148		34,708		37,309	12.8		4.9		145,489	146,253	(.5)
Core operating expenses	169,488		169,148		163,360	.2		3.8		682,390	672,826	1.4
Foreclosed real estate and repossessed assets, net	11,323		12,430		12,781	(8.9)		(11.4)		49,238	40,385	21.9
Operating lease depreciation	6,811		7,409		8,289	(8.1)		(17.8)		30,007	37,106	(19.1)
Other credit costs, net	(89	)	(139	)	1,542	36.0		N.M.		2,816	6,018	(53.2)
Total non-interest expense	$187,533		$188,848		$185,972	(.7)		.8		$764,451	$756,335	1.1

N.M. = Not meaningful.

· Compensation and employee benefits expense in the fourth quarter of 2011 was relatively flat with the fourth quarter of 2010 and decreased $5.2 million, or 5.9 percent, from the third quarter of 2011. Compensation and employee benefits expense increased $2.7 million, or .8 percent, in 2011 as compared with 2010. The slight change from the fourth quarter of 2010 was primarily due to compensation decreases in branch banking as a result of branch closures during 2011, offset by compensation related to increased headcount from the acquisition of Gateway One. The decrease from the third quarter of 2011 was primarily due to net gains recognized on the annual re-measurement of retirement benefit plan assets and liabilities during the fourth quarter of 2011. The increase for 2011 compared with 2010 was primarily due to an increase in commissions and incentives due to growth in the specialty finance business, which continued to expand its core business with new programs during 2011, the ramp up of expenses to deliver the onboarding of BRP that will begin funding early in 2012, and an increase in payroll taxes. These increases were partially offset by a decrease in employee medical costs and increased net gains recognized on retirement benefit plan assets and liabilities during the fourth quarter of 2011.

· FDIC insurance expense decreased $751 thousand, or 10.2 percent, from the fourth quarter of 2010 and $716 thousand, or 9.7 percent, from the third quarter of 2011. FDIC insurance expense increased $5.2 million, or 21.9 percent, for the full year of 2011 from 2010. The decrease from the fourth quarter of 2010

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and the third quarter of 2011 was primarily due to a decrease in the FDIC insurance rate as a result of increased liquidity during the fourth quarter of 2011. The increase for 2011 compared with 2010 was primarily due to changes in the FDIC insurance rate calculations for banks over $10 billion in total assets, which were implemented on April 1, 2011.

· Deposit account premiums increased $4.8 million from the fourth quarter of 2010 and decreased $563 thousand, or 8 percent, from the third quarter of 2011. Deposit account premiums increased $5.6 million, or 32.3 percent, for the full year of 2011 from 2010. The increase from the fourth quarter of 2010 and for 2011 compared with 2010 was primarily due to changes in the account premium programs, beginning in April 2011 that increased the premiums paid for each qualifying account. The decrease from the third quarter of 2011 was primarily due to decreased production of checking accounts.

· Advertising and marketing expense decreased $904 thousand, or 28.7 percent, from the fourth quarter of 2010 and increased $1.1 million, or 96.5 percent, from the third quarter of 2011. Advertising and marketing expense decreased $3 million, or 23.2 percent, for the full year of 2011 from 2010. The decrease from the fourth quarter of 2010 and for all of 2011 compared with 2010 was due to the discontinuation of the debit card rewards program in the third quarter of 2011 in response to new federal regulation regarding debit card interchange fees. The increase from the third quarter of 2011 was primarily due to the discontinuation of the debit card rewards program that was recognized in the third quarter of 2011.

· Other non-interest expense increased $1.9 million, or 4.9 percent, from the fourth quarter of 2010 and $4.4 million, or 12.8 percent, from the third quarter of 2011. Other non-interest expense was flat for the full year of 2011 compared with 2010. The increase from the fourth quarter of 2010 was primarily due to an increase in card expenses related to our campus banking alliances. The increase from the third quarter of 2011 was primarily due to an increase in transaction costs related to the acquisition of Gateway One.

· Foreclosed real estate and repossessed asset expense decreased $1.5 million, or 11.4 percent, from the fourth quarter of 2010 and decreased $1.1 million, or 8.9 percent, from the third quarter of 2011. Foreclosed real estate and repossessed asset expense increased $8.9 million, or 21.9 percent, for the full

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year of 2011 from 2010. The decrease from the fourth quarter of 2010 was primarily due to a decrease in the number of consumer real estate properties owned and the associated expenses. The decrease from the third quarter of 2011 was primarily due to reduced writedowns on commercial real estate properties owned. The increase for 2011 compared with 2010 was primarily due to increased valuation writedowns per property on commercial real estate properties.

Capital and Borrowing Capacity

Capital Information					Table 9
At period end
($ in thousands, except per-share data)	4Q 2011					4Q 2010
Total equity	$ 1,878,627					$ 1,480,163
Total equity to total assets	9.90	%				8.02	%
Book value per common share	$ 11.65					$ 10.30
Tangible realized common equity to tangible assets(1)	8.42	%				7.28	%


Risk-based capital
Tier 1	$ 1,706,926		12.67	%		$ 1,459,703		10.47	%
Total	1,994,875		14.80			1,792,683		12.86
Excess over stated “10% well-capitalized” requirement	647,342		4.80			399,020		2.86

Tier 1 Leverage Capital	$ 1,706,926		9.15	%		$ 1,459,703		7.91	%

Tier 1 common capital(2)	$ 1,581,432		11.74	%		$ 1,336,203		9.59	%

(1) Excludes the impact of goodwill, other intangibles and accumulated other comprehensive income (loss) (see “Reconciliation of GAAP to Non-GAAP Measures” table).
(2) Excludes the effect of qualifying trust preferred securities and qualifying non-controlling interest in subsidiaries (see “Reconciliation of GAAP to Non-GAAP Measures” table).

· Total risk-based capital at December 31, 2011 of $2 billion, or 14.80 percent of risk-weighted assets, was $647.3 million in excess of the stated “10 percent well-capitalized” requirement.

· The tier 1 leverage ratio and tier 1 common risk-based capital ratio decreased from 9.42 percent and 12.11 percent, respectively, at September 30, 2011 to 9.15 percent and 11.74 percent, respectively, at December 31, 2011 due mainly to the addition of goodwill and intangible assets acquired in the purchase of Gateway One.

· On January 16, 2012, the Board of Directors of TCF declared a regular quarterly cash dividend of five cents per common share payable on February 29, 2012 to stockholders of record at the close of business on January 27, 2012.

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· At December 31, 2011, TCF had $1.9 billion in unused, secured borrowing capacity at the FHLB of Des Moines and $518 million in unused, secured borrowing capacity at the Federal Reserve Discount Window.

Website Information

A live webcast of TCF’s conference call to discuss fourth quarter earnings will be hosted at TCF’s website, http://ir.tcfbank.com, on January 24, 2012 at 10:00 a.m. CT. Additionally, the webcast will be available for replay at TCF’s website after the conference call. The website also includes free access to company news releases, TCF’s annual report, quarterly reports, investor presentations and SEC filings.

TCF is a Wayzata, Minnesota-based national bank holding company with $19 billion in total assets. TCF has 434 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF also conducts commercial leasing and equipment finance business in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states. For more information about TCF, please visit www.tcfbank.com.

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Forward-Looking Information

Any statements contained in this earnings release regarding the outlook for the Company’s businesses and their respective markets, such as projections of future performance, guidance, statements of the Company’s plans and objectives, forecasts of market trends and other matters, are forward-looking statements based on the Company’s assumptions and beliefs. Such statements may be identified by such words or phrases as “will likely result,” “are expected to,” “will continue,” “outlook,” “will benefit,” “is anticipated,” “estimate,” “project,” “management believes” or similar expressions. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in such statements and no assurance can be given that the results in any forward-looking statement will be achieved. For these statements, TCF claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Any forward-looking statement speaks only as of the date on which it is made, and we disclaim any obligation to subsequently revise any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of anticipated or unanticipated events.

Certain factors could cause the Company’s future results to differ materially from those expressed or implied in any forward-looking statements contained in this release. These factors include the factors discussed in Part I, Item 1A of the Company’s Annual Report on Form 10-K under the heading “Risk Factors,” the factors discussed below and any other cautionary statements, written or oral, which may be made or referred to in connection with any such forward-looking statements. Since it is not possible to foresee all such factors, these factors should not be considered as complete or exhaustive.

Adverse Economic or Business Conditions, Credit and Other Risks Deterioration in general economic and banking industry conditions, including defaults, anticipated defaults or rating agency downgrades of sovereign debt (including debt of the U.S.), or continued high rates of or increases in unemployment in TCF’s primary banking markets; adverse economic, business and competitive developments such as shrinking interest margins, deposit outflows, deposit account attrition or an inability to increase the number of deposit accounts; adverse changes in credit quality and other risks posed by TCF’s loan, lease, investment and securities available for sale portfolios, including declines in commercial or residential real estate values or changes in the allowance for loan and lease losses dictated by new market conditions or regulatory requirements; interest rate risks resulting from fluctuations in prevailing interest rates or other factors that result in a mismatch between yields earned on TCF’s interest-earning assets and the rates paid on its deposits and borrowings; foreign currency exchange risks; counterparty risk, including the risk of defaults by our counterparties or diminished availability of counterparties who satisfy our credit quality requirements; decreases in demand for the types of equipment that TCF leases or finances; limitations on TCF’s ability to attract and retain manufacturers and dealers to expand the inventory finance business.

Legislative and Regulatory Requirements New consumer protection and supervisory requirements and regulations, including those resulting from action by the CFPB and changes in the scope of Federal preemption of state laws that could be applied to national banks; the imposition of requirements with an adverse impact relating to TCF’s lending, loan collection and other business activities as a result of the Dodd-Frank Act, or other legislative or regulatory developments such as mortgage foreclosure moratorium laws or imposition of underwriting or other limitations that impact the ability to use certain variable-rate products; reduction of interchange revenue from debit card transactions resulting from the Durbin Amendment to the Dodd-Frank Act; impact of legislative, regulatory or other changes affecting customer account charges and fee income; changes to bankruptcy laws which would result in the loss of all or part of TCF’s security interest due to collateral value declines; deficiencies in TCF’s compliance under the Bank Secrecy Act in past or future periods, which may result in regulatory enforcement action including monetary penalties; increased health care costs resulting from Federal health care reform legislation; adverse regulatory examinations and resulting enforcement actions or other adverse consequences such as increased capital requirements or higher deposit insurance assessments; heightened regulatory practices, requirements or expectations, including, but not limited to, requirements related to the Bank Secrecy Act and anti-money laundering compliance activity.

Earnings/Capital Risks and Constraints, Liquidity Risks Limitations on TCF’s ability to pay dividends or to increase dividends in the future because of financial performance deterioration, regulatory restrictions or limitations; increased deposit insurance premiums, special assessments or other costs related to adverse conditions in the banking industry, the economic impact on banks of the Dodd-Frank Act and other regulatory reform legislation; the impact of financial regulatory reform, including the phase out of trust preferred securities in tier 1 capital called for by the Dodd-Frank Act, or additional capital, leverage, liquidity and risk management requirements or changes in the composition of qualifying regulatory capital (including those resulting from U.S. implementation of Basel III requirements); adverse changes in securities markets directly or indirectly affecting TCF’s ability to sell assets or to fund its operations; diminished unsecured borrowing capacity resulting from TCF credit rating downgrades and unfavorable conditions in the credit markets that restrict or limit various funding sources; costs associated with new regulatory requirements or interpretive

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guidance relating to liquidity; uncertainties relating to customer opt-in preferences with respect to NSF fees on point of sale and ATM transactions which may have an adverse impact on TCF’s fee revenue; uncertainties relating to future retail deposit account changes, including limitations on TCF’s ability to predict customer behavior and the impact on TCF’s fee revenues.

Competitive Conditions; Supermarket Branching Risk; Growth Risks Reduced demand for financial services and loan and lease products; adverse developments affecting TCF’s supermarket banking relationships or any of the supermarket chains in which TCF maintains supermarket branches; customers completing financial transactions without using a bank; the effect of any negative publicity; slower than anticipated growth in existing or acquired businesses; inability to successfully execute on TCF’s growth strategy through acquisitions or cross-selling opportunities; failure to expand or diversify our balance sheet through programs or new opportunities; failure to successfully attract and retain new customers.

Technological and Operational Matters Technological or operational difficulties, loss or theft of information, counterparty failures and the possibility that deposit account losses (fraudulent checks, etc.) may increase; failure to keep pace with technological change.

Litigation Risks Results of litigation, including class action litigation concerning TCF’s lending or deposit activities including account servicing processes or fees or charges, or employment practices, and possible increases in indemnification obligations for certain litigation against Visa U.S.A. and potential reductions in card revenues resulting from such litigation or other litigation against Visa.

Accounting, Audit, Tax and Insurance Matters Changes in accounting standards or interpretations of existing standards; federal or state monetary, fiscal or tax policies, including adoption of state legislation that would increase state taxes; ineffective internal controls; adverse state or Federal tax assessments or findings in tax audits; lack of or inadequate insurance coverage for claims against TCF; potential for claims and legal action related to TCF’s fiduciary responsibilities.

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

Three Months Ended

December 31,

Change

2011

2010

Interest income:

Loans and leases

205,415

220,772

(15,357

)

(7.0

) %

Securities available for sale

22,559

18,072

4,487

24.8

Investments and other

2,333

1,900

433

22.8

Total interest income

230,307

240,744

(10,437

)

(4.3

)

Interest expense:

Deposits

9,791

13,370

(3,579

)

(26.8

)

Borrowings

47,082

53,088

(6,006

)

(11.3

)

Total interest expense

56,873

66,458

(9,585

)

(14.4

)

Net interest income

173,434

174,286

(852

)

(.5

)

Provision for credit losses

59,249

77,646

(18,397

)

(23.7

)

Net interest income after provision for
credit losses

114,185

96,640

17,545

18.2

Non-interest income:

Fees and service charges

51,002

61,480

(10,478

)

(17.0

)

Card revenue

13,643

27,625

(13,982

)

(50.6

)

ATM revenue

6,608

6,985

(377

)

(5.4

)

Subtotal

71,253

96,090

(24,837

)

(25.8

)

Leasing and equipment finance

18,492

23,402

(4,910

)

(21.0

)

Other

1,570

817

753

92.2

Fees and other revenue

91,315

120,309

(28,994

)

(24.1

)

Gains on securities, net

5,842

21,185

(15,343

)

(72.4

)

Gains on sales of auto loans

1,133

N.M.

Total non-interest income

98,290

141,494

(43,204

)

(30.5

)

Non-interest expense:

Compensation and employee benefits

82,595

82,843

(248

)

(.3

)

Occupancy and equipment

32,366

30,968

1,398

4.5

FDIC insurance

6,647

7,398

(751

)

(10.2

)

Deposit account premiums

6,482

1,688

4,794

N.M.

Advertising and marketing

2,250

3,154

(904

)

(28.7

)

Other

39,148

37,309

1,839

4.9

Subtotal

169,488

163,360

6,128

3.8

Foreclosed real estate and repossessed assets, net

11,323

12,781

(1,458

)

(11.4

)

Operating lease depreciation

6,811

8,289

(1,478

)

(17.8

)

Other credit costs, net

(89

)

1,542

(1,631

)

(105.8

)

Total non-interest expense

187,533

185,972

1,561

Income before income tax expense

24,942

52,162

(27,220

)

(52.2

)

Income tax expense

7,424

17,391

(9,967

)

(57.3

)

Income after income tax expense

17,518

34,771

(17,253

)

(49.6

)

Income attributable to non-controlling interest

1,075

898

177

19.7

Net income available to common stockholders

16,443

33,873

(17,430

)

(51.5

)

Net income per common share:

Basic

.10

.24

(.14

)

(58.3

)

Diluted

.10

.24

(.14

)

(58.3

)

Dividends declared per common share

.05

Average common and common equivalent
shares outstanding (in thousands):

Basic

157,829

140,970

16,859

12.0

Diluted

158,152

141,216

16,936

12.0

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands, except per-share data)

(Unaudited)

Year Ended

December 31,

Change

2011

2010

Interest income:

Loans and leases

844,796

883,923

(39,127

)

(4.4

) %

Securities available for sale

85,188

80,445

4,743

5.9

Investments and other

7,967

5,509

2,458

44.6

Total interest income

937,951

969,877

(31,926

)

(3.3

)

Interest expense:

Deposits

45,108

61,229

(16,121

)

(26.3

)

Borrowings

193,155

209,446

(16,291

)

(7.8

)

Total interest expense

238,263

270,675

(32,412

)

(12.0

)

Net interest income

699,688

699,202

486

Provision for credit losses

200,843

236,437

(35,594

)

(15.1

)

Net interest income after provision for
credit losses

498,845

462,765

36,080

7.8

Non-interest income:

Fees and service charges

219,363

273,181

(53,818

)

(19.7

)

Card revenue

96,147

111,067

(14,920

)

(13.4

)

ATM revenue

27,927

29,836

(1,909

)

(6.4

)

Subtotal

343,437

414,084

(70,647

)

(17.1

)

Leasing and equipment finance

89,167

89,194

(27

)

N.M.

Other

3,434

5,584

(2,150

)

(38.5

)

Fees and other revenue

436,038

508,862

(72,824

)

(14.3

)

Gains on securities, net

7,263

29,123

(21,860

)

(75.1

)

Gains on sales of auto loans

1,133

N.M.

Total non-interest income

444,434

537,985

(93,551

)

(17.4

)

Non-interest expense:

Compensation and employee benefits

348,792

346,072

2,720

Occupancy and equipment

126,437

126,551

(114

)

(.1

)

FDIC insurance

28,747

23,584

5,163

21.9

Deposit account premiums

22,891

17,304

5,587

32.3

Advertising and marketing

10,034

13,062

(3,028

)

(23.2

)

Other

145,489

146,253

(764

)

(.5

)

Subtotal

682,390

672,826

9,564

1.4

Foreclosed real estate and repossessed assets, net

49,238

40,385

8,853

21.9

Operating lease depreciation

30,007

37,106

(7,099

)

(19.1

)

Other credit costs, net

2,816

6,018

(3,202

)

(53.2

)

Total non-interest expense

764,451

756,335

8,116

1.1

Income before income tax expense

178,828

244,415

(65,587

)

(26.8

)

Income tax expense

64,441

90,171

(25,730

)

(28.5

)

Income after income tax expense

114,387

154,244

(39,857

)

(25.8

)

Income attributable to non-controlling interest

4,993

3,297

1,696

51.4

Net income available to common stockholders

109,394

150,947

(41,553

)

(27.5

)

Net income per common share:

Basic

.71

1.08

(.37

)

(34.3

)

Diluted

.71

1.08

(.37

)

(34.3

)

Dividends declared per common share

.20

Average common and common equivalent
shares outstanding (in thousands):

Basic

154,222

138,617

15,605

11.3

Diluted

154,509

138,813

15,696

11.3

N.M. Not meaningful.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Dollars in thousands, except per-share data)

(Unaudited)

December 31,

Change

2011

2010

ASSETS

Cash and due from banks

1,389,704

663,901

725,803

109.3

Investments

157,780

179,768

(21,988

)

(12.2

)

Securities available for sale

2,324,038

1,931,174

392,864

20.3

Loans and leases held for sale

14,321

N.M.

Loans and leases:

Consumer real estate and other

6,933,804

7,195,269

(261,465

)

(3.6

)

Commercial

3,449,492

3,646,203

(196,711

)

(5.4

)

Leasing and equipment finance

3,142,259

3,154,478

(12,219

)

(.4

)

Inventory finance

624,700

792,354

(167,654

)

(21.2

)

Total loans and leases

14,150,255

14,788,304

(638,049

)

(4.3

)

Allowance for loan and lease losses

(255,672

)

(265,819

)

10,147

3.8

Net loans and leases

13,894,583

14,522,485

(627,902

)

(4.3

)

Premises and equipment, net

436,281

443,768

(7,487

)

(1.7

)

Goodwill

225,640

152,599

73,041

47.9

Other assets

537,041

571,330

(34,289

)

(6.0

)

Total assets

18,979,388

18,465,025

514,363

2.8

LIABILITIES AND EQUITY

Deposits:

Checking

4,629,749

4,530,064

99,685

2.2

Savings

5,855,263

5,390,802

464,461

8.6

Money market

651,377

635,922

15,455

2.4

Subtotal

11,136,389

10,556,788

579,601

5.5

Certificates of deposit

1,065,615

1,028,327

37,288

3.6

Total deposits

12,202,004

11,585,115

616,889

5.3

Short-term borrowings

6,416

126,790

(120,374

)

(94.9

)

Long-term borrowings

4,381,664

4,858,821

(477,157

)

(9.8

)

Total borrowings

4,388,080

4,985,611

(597,531

)

(12.0

)

Accrued expenses and other liabilities

510,677

414,136

96,541

23.3

Total liabilities

17,100,761

16,984,862

115,899

Equity:

Preferred stock, par value $.01 per share,

30,000,000 authorized; 0 shares issued

Common stock, par value $.01 per share,

280,000,000 shares authorized; 160,366,380,

and 142,965,012 shares issued

1,604

1,430

174

12.2

Additional paid-in capital

715,247

459,884

255,363

55.5

Retained earnings, subject to certain restrictions

1,127,823

1,049,156

78,667

7.5

Accumulated other comprehensive income (loss)

56,826

(15,692

)

72,518

N.M.

Treasury stock at cost, 42,566, and 51,160

shares, and other

(33,367

)

(23,115

)

(10,252

)

(44.4

)

Total TCF Financial Corp. stockholders’ equity

1,868,133

1,471,663

396,470

26.9

Non-controlling interest in subsidiaries

10,494

8,500

1,994

23.5

Total equity

1,878,627

1,480,163

398,464

26.9

Total liabilities and equity

18,979,388

18,465,025

514,363

2.8

N.M. Not meaningful.

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TCF FINANCIAL CORPORATION AND SUBSIDIARIES

SUMMARY OF CREDIT QUALITY DATA

(Dollars in thousands)

(Unaudited)

Change from

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Dec. 31,

2011

2010

2011

2010

Delinquency Data - Principal Balances (1)

60 days or more:

Consumer real estate

First mortgage lien

87,358

78,241

74,090

70,024

73,848

9,117

13,510

Junior lien

22,277

18,499

17,780

19,528

20,763

3,778

1,514

Total consumer real estate

109,635

96,740

91,870

89,552

94,611

12,895

15,024

Consumer other

171

(17

)

Total consumer real estate and other

109,676

96,798

92,041

89,630

94,650

12,878

15,026

Commercial

1,148

3,079

6,238

1,864

9,021

(1,931

)

(7,873

)

Leasing and equipment finance

3,512

2,840

2,447

5,274

5,054

672

(1,542

)

Inventory finance

160

306

145

240

318

(146

)

(158

)

Subtotal

114,496

103,023

100,871

97,008

109,043

11,473

5,453

Acquired portfolios

3,140

1,870

2,993

4,399

6,000

1,270

(2,860

)

Total delinquencies

117,636

104,893

103,864

101,407

115,043

12,743

2,593

Delinquency Data - % of Portfolio (1)

60 days or more:

Consumer real estate

First mortgage lien

1.89

1.68

1.58

1.48

1.55

bps

Junior lien

1.04

.86

.82

.89

.93

Total consumer real estate

1.63

1.42

1.34

1.30

1.35

Consumer other

.12

.18

.46

.22

.10

)

Total consumer real estate and other

1.62

1.41

1.33

1.29

1.35

Commercial

.03

.09

.18

.05

.26

)

(23

)

Leasing and equipment finance

.13

.11

.09

.20

.19

)

Inventory finance

.03

.04

.02

.03

.05

)

Subtotal

.85

.75

.73

.69

.79

Acquired portfolios

.84

.51

.70

.89

1.00

(16

)

Total delinquencies

.85

.75

.73

.70

.80

(1) Excludes non-accrual loans and leases.

Change from

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Dec. 31,

2011

2010

2011

2010

Non-Accrual Loans and Leases

Non-accrual loans and leases:

Consumer real estate

First mortgage lien

129,114

130,671

129,837

133,865

140,871

(1,557

)

(11,757

)

Junior lien

20,257

18,223

21,069

21,325

26,626

2,034

(6,369

)

Total consumer real estate

149,371

148,894

150,906

155,190

167,497

477

(18,126

)

Consumer other

(35

)

Total consumer real estate and other

149,386

148,898

150,938

155,233

167,547

488

(18,161

)

Commercial

127,519

133,260

140,407

127,745

142,248

(5,741

)

(14,729

)

Leasing and equipment finance

20,583

24,437

29,682

34,634

34,407

(3,854

)

(13,824

)

Inventory finance

823

1,077

634

1,437

1,055

(254

)

(232

)

Total non-accrual loans and leases

298,311

307,672

321,661

319,049

345,257

(9,361

)

(46,946

)

Non-accrual loans and leases - rollforward

Balance, beginning of period

307,672

321,661

319,049

345,257

369,812

(13,989

)

(62,140

)

Additions

125,893

80,014

86,996

80,596

92,180

45,879

33,713

Charge-offs

(38,263

)

(29,338

)

(22,401

)

(37,417

)

(43,092

)

(8,925

)

4,829

Transfers to other assets

(31,486

)

(21,654

)

(27,078

)

(33,541

)

(41,659

)

(9,832

)

10,173

Return to accrual status

(19,932

)

(20,272

)

(21,985

)

(24,634

)

(17,989

)

340

(1,943

)

Payments received

(45,238

)

(23,843

)

(14,383

)

(12,881

)

(15,036

)

(21,395

)

(30,202

)

Other, net

(335

)

1,104

1,463

1,669

1,041

(1,439

)

(1,376

)

Balance, end of period

298,311

307,672

321,661

319,049

345,257

(9,361

)

(46,946

)

Charge-offs and allowance recorded on

non-accrual loans and leases as a percentage
of contractual balance

Consumer real estate

29.9

29.3

26.6

24.5

22.0

bps

790

bps

Commercial

37.2

34.3

37.9

40.5

43.1

290

(590

)

Leasing and equipment finance

17.7

22.1

20.5

23.6

24.3

(440

)

(660

)

Inventory finance

5.3

5.7

11.8

7.1

17.5

(40

)

(1,220

)

Total

32.4

31.0

31.4

31.6

140

-more-

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

SUMMARY OF CREDIT QUALITY DATA, CONTINUED

(Dollars in thousands)

(Unaudited)

Change from

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Dec. 31,

2011

2010

2011

2010

Other Real Estate Owned

Other real estate owned (1):

Consumer real estate

87,792

88,206

94,311

97,976

90,115

(414

)

(2,323

)

Commercial real estate

47,106

42,207

42,188

44,178

50,950

4,899

(3,844

)

Total other real estate owned

134,898

130,413

136,499

142,154

141,065

4,485

(6,167

)

Other real estate owned - rollforward

Balance, beginning of period

130,413

136,499

142,154

141,065

136,144

(6,086

)

(5,731

)

Transferred in

33,864

24,939

27,649

35,480

44,513

8,925

(10,649

)

Sales

(25,909

)

(26,095

)

(28,759

)

(31,328

)

(34,666

)

186

8,757

Writedowns

(5,719

)

(6,337

)

(6,741

)

(6,266

)

(6,220

)

618

501

Other, net

2,249

1,407

2,196

3,203

1,294

842

955

Balance, end of period

134,898

130,413

136,499

142,154

141,065

4,485

(6,167

)

Charge-offs and writedowns recorded on other real

estate owned as a percentage of contractual

loan balance prior to non-performing status

Consumer

36.0

35.1

33.1

32.2

33.0

bps

300

bps

Commercial

43.2

42.7

33.2

24.5

26.6

1,660

Total

38.7

37.8

33.1

30.0

30.8

790

Ending number of properties owned

Consumer real estate

465

456

488

493

520

(55

)

Commercial real estate

Total

498

489

514

519

548

(50

)

(1) Includes properties owned and foreclosed properties subject to redemption.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

SUMMARY OF CREDIT QUALITY DATA, CONTINUED

(Dollars in thousands)

(Unaudited)

Allowance for Loan and Lease Losses

At December 31, 2011

At September 30, 2011

At December 31, 2010

Change from

Sep. 30,

Dec. 31,

Balance

% of Portfolio

Balance

% of Portfolio

Balance

% of Portfolio

2011

2010

Consumer real estate

183,435

2.66

177,430

2.55

172,850

2.42

bps

Consumer other

1,114

2.89

1,219

3.68

1,653

4.22

(79

)

(133

)

Total consumer real estate and other

184,549

2.66

178,649

2.55

174,503

2.43

Commercial

46,954

1.36

49,499

1.42

62,478

1.71

)

(35

)

Leasing and equipment finance

21,173

.67

23,300

.77

26,301

.83

(10

)

(16

)

Inventory finance

2,996

.48

2,877

.35

2,537

.32

Total

255,672

1.81

254,325

1.77

265,819

1.80

Net Charge-Offs as a Percentage of Average Loans and Leases

Change from

Quarter Ended (1)

Quarter Ended

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

Sep. 30,

Dec. 31,

2011

2010

2011

2010

Consumer real estate

First mortgage lien

1.94

2.29

1.78

1.81

1.88

(35)

bps

Junior lien

2.63

2.99

2.75

2.39

2.37

(36

)

Total consumer real estate

2.15

2.51

2.09

1.99

2.04

(36

)

Total consumer real estate and other

2.23

2.59

2.12

1.97

2.10

(36

)

Commercial

1.79

.57

.30

1.96

2.04

122

(25

)

Leasing and equipment finance

.46

.36

.45

.36

.99

(53

)

Inventory finance

.03

.13

.10

.28

(10

)

(25

)

Total

1.63

1.48

1.19

1.51

1.75

(12

)

(1) Annualized.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

Three Months Ended December 31,

2011

2010

Average

Yields and

Average

Yields and

Balance

Interest

Rates (1)

Balance

Interest

Rates (1)

ASSETS:

Investments and other

1,046,883

2,202

.84

406,351

1,900

1.86

U.S. Government sponsored entities:

Mortgage-backed securities, fixed-rate

2,381,193

22,557

3.79

1,729,928

18,005

4.16

U.S. Treasury securities

198,895

.13

Other securities

237

3.36

431

3.69

Total securities available for sale (2)

2,381,430

22,559

3.79

1,929,254

18,072

3.75

Loans and leases held for sale

4,822

131

10.78

Loans and leases:

Consumer real estate:

Fixed-rate

4,528,165

68,919

6.04

4,874,633

74,961

6.10

Variable-rate

2,404,886

30,841

5.09

2,322,623

30,735

5.25

Consumer - other

19,386

415

8.49

23,283

537

9.15

Total consumer real estate and other

6,952,437

100,175

5.72

7,220,539

106,233

5.84

Commercial:

Fixed- and adjustable-rate

2,775,219

39,734

5.68

2,947,137

43,856

5.90

Variable-rate

701,441

7,569

4.28

703,769

7,373

4.16

Total commercial

3,476,660

47,303

5.40

3,650,906

51,229

5.57

Leasing and equipment finance

3,043,329

44,762

5.88

3,155,472

49,212

6.24

Inventory finance

766,885

13,767

7.12

803,157

14,554

7.19

Total loans and leases

14,239,311

206,007

5.75

14,830,074

221,228

5.93

Total interest-earning assets

17,672,446

230,899

5.20

17,165,679

241,200

5.59

Other assets

1,248,000

1,443,559

Total assets

18,920,446

18,609,238

LIABILITIES AND EQUITY:

Non-interest bearing deposits:

Retail

1,330,462

1,366,190

Small business

738,867

676,670

Commercial and custodial

303,216

291,295

Total non-interest bearing deposits

2,372,545

2,334,155

Interest-bearing deposits:

Checking

2,096,340

818

.15

2,044,060

1,475

.29

Savings

5,859,147

6,254

.42

5,392,650

8,592

.63

Money market

662,024

620

.37

643,801

1,043

.64

Subtotal

8,617,511

7,692

.35

8,080,511

11,110

.55

Certificates of deposit

1,112,735

2,099

.75

1,040,348

2,260

.86

Total interest-bearing deposits

9,730,246

9,791

.40

9,120,859

13,370

.58

Total deposits

12,102,791

9,791

.32

11,455,014

13,370

.46

Borrowings:

Short-term borrowings

37,081

.29

235,219

209

.35

Long-term borrowings

4,387,036

47,055

4.26

4,746,823

52,879

4.42

Total borrowings

4,424,117

47,082

4.23

4,982,042

53,088

4.23

Total interest-bearing liabilities

14,154,363

56,873

1.59

14,102,901

66,458

1.87

Total deposits and borrowings

16,526,908

56,873

1.37

16,437,056

66,458

1.61

Other liabilities

538,148

674,827

Total liabilities

17,065,056

17,111,883

Total TCF Financial Corp. stockholders’ equity

1,850,968

1,490,025

Non-controlling interest in subsidiaries

4,422

7,330

Total equity

1,855,390

1,497,355

Total liabilities and equity

18,920,446

18,609,238

Net interest income and margin

174,026

3.92

174,742

4.05

(1) Annualized.

(2) Average balances and yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED AVERAGE BALANCE SHEETS, YIELDS AND RATES

(Dollars in thousands)

(Unaudited)

Year Ended December 31,

2011

2010

Average

Yields and

Average

Yields and

Balance

Interest

Rates

Balance

Interest

Rates

ASSETS:

Investments and other

820,981

7,836

.95

337,279

5,509

1.63

U.S. Government sponsored entities:

Mortgage-backed securities, fixed-rate

2,198,188

85,138

3.87

1,817,413

80,332

4.42

U.S. Treasury securities

48,178

.07

71,233

.13

Other securities

329

4.86

454

4.41

Total securities available for sale (1)

2,246,695

85,188

3.79

1,889,100

80,445

4.26

Loans and leases held for sale

1,215

131

10.78

Loans and leases:

Consumer real estate:

Fixed-rate

4,627,047

281,427

6.08

5,082,487

313,573

6.17

Variable-rate

2,386,234

122,532

5.13

2,148,171

116,436

5.42

Consumer - other

19,687

1,715

8.71

26,576

2,303

8.67

Total consumer real estate and other

7,032,968

405,674

5.77

7,257,234

432,312

5.96

Commercial:

Fixed- and adjustable-rate

2,854,327

164,368

5.76

2,956,699

176,018

5.95

Variable-rate

710,758

30,742

4.33

730,325

30,604

4.19

Total commercial

3,565,085

195,110

5.47

3,687,024

206,622

5.60

Leasing and equipment finance

3,074,207

184,575

6.00

3,056,006

196,570

6.43

Inventory finance

856,271

61,583

7.19

677,214

49,881

7.37

Total loans and leases

14,528,531

846,942

5.83

14,677,478

885,385

6.03

Total interest-earning assets

17,597,422

940,097

5.34

16,903,857

971,339

5.75

Other assets

1,194,550

1,286,683

Total assets

18,791,972

18,190,540

LIABILITIES AND EQUITY:

Non-interest bearing deposits:

Retail

1,414,659

1,429,436

Small business

698,903

641,412

Commercial and custodial

291,986

284,750

Total non-interest bearing deposits

2,405,548

2,355,598

Interest-bearing deposits:

Checking

2,114,098

4,451

.21

2,071,990

6,466

.31

Savings

5,671,889

28,942

.51

5,410,681

40,023

.74

Money market

658,693

2,951

.45

656,691

4,532

.69

Subtotal

8,444,680

36,344

.43

8,139,362

51,021

.63

Certificates of deposit

1,103,231

8,764

.79

1,054,179

10,208

.97

Total interest-bearing deposits

9,547,911

45,108

.47

9,193,541

61,229

.67

Total deposits

11,953,459

45,108

.38

11,549,139

61,229

.53

Borrowings:

Short-term borrowings

49,442

171

.35

124,891

474

.38

Long-term borrowings

4,500,564

192,984

4.29

4,580,786

208,972

4.56

Total borrowings

4,550,006

193,155

4.24

4,705,677

209,446

4.45

Total interest-bearing liabilities

14,097,917

238,263

1.69

13,899,218

270,675

1.95

Total deposits and borrowings

16,503,465

238,263

1.44

16,254,816

270,675

1.66

Other liabilities

551,206

511,589

Total liabilities

17,054,671

16,766,405

Total TCF Financial Corp. stockholders’ equity

1,729,660

1,415,161

Non-controlling interest in subsidiaries

7,641

8,974

Total equity

1,737,301

1,424,135

Total liabilities and equity

18,791,972

18,190,540

Net interest income and margin

701,834

3.99

700,664

4.15

(1) Average balances and yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY STATEMENTS OF INCOME AND FINANCIAL RATIOS

(Dollars in thousands, except per-share data)

(Unaudited)

At or For the Three Months Ended

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

2011

2010

Interest income:

Loans and leases

205,415

210,885

213,823

214,673

220,772

Securities available for sale

22,559

22,561

20,639

19,429

18,072

Investments and other

2,333

1,997

1,836

1,801

1,900

Total interest income

230,307

235,443

236,298

235,903

240,744

Interest expense:

Deposits

9,791

11,883

11,430

12,004

13,370

Borrowings

47,082

47,496

48,718

49,859

53,088

Total interest expense

56,873

59,379

60,148

61,863

66,458

Net interest income

173,434

176,064

176,150

174,040

174,286

Provision for credit losses

59,249

52,315

44,005

45,274

77,646

Net interest income after provision for credit losses

114,185

123,749

132,145

128,766

96,640

Non-interest income:

Fees and service charges

51,002

58,452

56,396

53,513

61,480

Card revenue

13,643

27,701

28,219

26,584

27,625

ATM revenue

6,608

7,523

7,091

6,705

6,985

Subtotal

71,253

93,676

91,706

86,802

96,090

Leasing and equipment finance

18,492

21,646

22,279

26,750

23,402

Other

1,570

786

384

694

817

Fees and other revenue

91,315

116,108

114,369

114,246

120,309

Gains (losses) on securities, net

5,842

1,648

(227

)

21,185

Gains on sales of auto loans

1,133

Total non-interest income

98,290

117,756

114,142

114,246

141,494

Non-interest expense:

Compensation and employee benefits

82,595

87,758

89,082

89,357

82,843

Occupancy and equipment

32,366

31,129

30,783

32,159

30,968

FDIC insurance

6,647

7,363

7,542

7,195

7,398

Deposit account premiums

6,482

7,045

6,166

3,198

1,688

Advertising and marketing

2,250

1,145

3,479

3,160

3,154

Other

39,148

34,708

37,067

34,566

37,309

Subtotal

169,488

169,148

174,119

169,635

163,360

Foreclosed real estate and repossessed assets, net

11,323

12,430

12,617

12,868

12,781

Operating lease depreciation

6,811

7,409

7,859

7,928

8,289

Other credit costs, net

(89

)

(139

)

496

2,548

1,542

Total non-interest expense

187,533

188,848

195,091

192,979

185,972

Income before income tax expense

24,942

52,657

51,196

50,033

52,162

Income tax expense

7,424

19,159

19,086

18,772

17,391

Income after income tax expense

17,518

33,498

32,110

31,261

34,771

Income attributable to non-controlling interest

1,075

1,243

1,686

989

898

Net income available to common stockholders

16,443

32,255

30,424

30,272

33,873

Net income per common share:

Basic

.10

.20

.19

.21

.24

Diluted

.10

.20

.19

.21

.24

Dividends declared per common share

.05

Financial Ratios: (1)

Return on average assets

.37

.71

.68

.75

Return on average common equity

3.55

7.12

7.00

8.00

9.09

Net interest margin

3.92

3.96

4.02

4.06

4.05

(1) Annualized.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY AVERAGE BALANCE SHEETS

(In thousands)

(Unaudited)

Dec. 31,

Sep. 30,

Jun. 30,

Mar. 31,

Dec. 31,

2011

2010

ASSETS

Cash and due from banks

1,175,118

1,078,521

802,812

677,695

506,244

Investments

162,359

162,717

166,039

172,309

176,795

U.S. Government sponsored entities:

Mortgage-backed securities

2,374,026

2,357,865

2,153,016

1,979,648

1,907,958

U.S. Treasury securities

—

10,761

135,613

47,269

199,330

Other securities

1,816

2,132

2,360

2,578

2,945

Total securities available for sale

2,375,842

2,370,758

2,290,989

2,029,495

2,110,233

Loans and leases held for sale

4,822

Loans and leases:

Consumer real estate:

Fixed-rate

4,528,165

4,592,855

4,655,198

4,734,618

4,874,633

Variable-rate

2,404,886

2,392,966

2,379,250

2,367,341

2,322,623

Consumer - other

19,386

18,183

19,463

21,757

23,283

Total consumer real estate and other

6,952,437

7,004,004

7,053,911

7,123,716

7,220,539

Commercial:

Fixed- and adjustable-rate

2,775,219

2,853,117

2,877,903

2,912,593

2,947,137

Variable-rate

701,441

711,081

719,741

710,870

703,769

Total commercial

3,476,660

3,564,198

3,597,644

3,623,463

3,650,906

Leasing and equipment finance

3,043,329

3,066,208

3,068,550

3,119,669

3,155,472

Inventory finance

766,885

826,198

978,505

872,785

803,157

Total loans and leases

14,239,311

14,460,608

14,698,610

14,739,633

14,830,074

Allowance for loan and lease losses

(251,158

)

(253,547

)

(255,441

)

(263,014

)

(251,904

)

Net loans and leases

13,988,153

14,207,061

14,443,169

14,476,619

14,578,170

Premises and equipment, net

436,715

439,288

442,529

445,093

446,527

Goodwill

179,070

152,599

Other assets

598,367

582,290

498,194

527,210

638,670

Total assets

18,920,446

18,993,234

18,796,331

18,481,020

18,609,238

LIABILITIES AND EQUITY

Non-interest-bearing deposits:

Retail

1,330,462

1,396,857

1,475,191

1,457,723

1,366,190

Small business

738,867

704,272

683,323

668,316

676,670

Commercial and custodial

303,216

294,253

278,808

291,513

291,295

Total non-interest bearing deposits

2,372,545

2,395,382

2,437,322

2,417,552

2,334,155

Interest-bearing deposits:

Checking

2,096,340

2,103,184

2,152,646

2,104,433

2,044,060

Savings

5,859,147

5,789,188

5,608,824

5,424,327

5,392,650

Money market

662,024

650,598

648,862

673,503

643,801

Subtotal

8,617,511

8,542,970

8,410,332

8,202,263

8,080,511

Certificates of deposit

1,112,735

1,114,934

1,092,368

1,092,537

1,040,348

Total interest-bearing deposits

9,730,246

9,657,904

9,502,700

9,294,800

9,120,859

Total deposits

12,102,791

12,053,286

11,940,022

11,712,352

11,455,014

Borrowings:

Short-term borrowings

37,081

43,073

35,227

83,038

235,219

Long-term borrowings

4,387,036

4,403,724

4,513,301

4,702,729

4,746,823

Total borrowings

4,424,117

4,446,797

4,548,528

4,785,767

4,982,042

Accrued expenses and other liabilities

538,148

672,944

556,641

460,434

674,827

Total liabilities

17,065,056

17,173,027

17,045,191

16,958,553

17,111,883

Equity:

Preferred stock

Common stock

1,602

1,598

1,594

1,463

1,428

Additional paid-in capital

711,914

705,366

698,683

503,852

456,760

Retained earnings, subject to certain restrictions

1,121,866

1,105,322

1,081,101

1,058,395

1,034,696

Accumulated other comprehensive income (loss)

48,618

34,073

(8,819

)

(26,177

)

20,168

Treasury stock at cost and other

(33,032

)

(33,008

)

(33,036

)

(22,961

)

(23,027

)

Total TCF Financial Corp. stockholders equity

1,850,968

1,813,351

1,739,523

1,514,572

1,490,025

Non-controlling interest in subsidiaries

4,422

6,856

11,617

7,895

7,330

Total equity

1,855,390

1,820,207

1,751,140

1,522,467

1,497,355

Total liabilities and equity

18,920,446

18,993,234

18,796,331

18,481,020

18,609,238

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED QUARTERLY YIELDS AND RATES (1)

(Unaudited)

	Dec. 31,		Sep. 30,		Jun. 30,		Mar. 31,		Dec. 31,
	2011		2011		2011		2011		2010

ASSETS

Investments and other	.84	%	.83	%	1.06	%	1.26	%	1.86	%
U.S. Government sponsored entities:
Mortgage-backed securities	3.79		3.86		3.92		3.96		4.16
U.S. Treasury securities	-		.04		.06		.11		.13
Other securities	3.36		4.68		5.68		5.21		3.69
Total securities available for sale (2)	3.79		3.84		3.69		3.87		3.75
Loans and leases held for sale	10.78		-		-		-		-
Loans and leases:
Consumer real estate:
Fixed-rate	6.04		6.06		6.08		6.15		6.10
Variable-rate	5.09		5.11		5.15		5.19		5.25
Consumer - other	8.49		8.44		9.01		8.87		9.15
Total consumer real estate and other	5.72		5.74		5.78		5.84		5.84
Commercial:
Fixed- and adjustable-rate	5.68		5.72		5.78		5.85		5.90
Variable-rate	4.28		4.33		4.32		4.37		4.16
Total commercial	5.40		5.44		5.49		5.56		5.57
Leasing and equipment finance	5.88		6.01		6.02		6.10		6.24
Inventory finance	7.12		7.28		7.11		7.12		7.19
Total loans and leases	5.75		5.81		5.85		5.90		5.93

Total interest-earning assets	5.20		5.28		5.38		5.51		5.59

LIABILITIES

Interest-bearing deposits:
Checking	.15		.20		.23		.26		.29
Savings	.42		.54		.52		.56		.63
Money market	.37		.42		.45		.55		.64
Subtotal	.35		.45		.44		.48		.55
Certificates of deposit	.75		.79		.81		.83		.86
Total interest-bearing deposits	.40		.49		.48		.52		.58
Total deposits	.32		.39		.38		.42		.46
Borrowings:
Short-term borrowings	.29		.29		.24		.45		.35
Long-term borrowings	4.26		4.28		4.33		4.28		4.42
Total borrowings	4.23		4.24		4.29		4.22		4.23

Total interest-bearing liabilities	1.59		1.67		1.72		1.78		1.87

Net interest margin	3.92	%	3.96	%	4.02	%	4.06	%	4.05	%

(1) Annualized.

(2) Average yields of securities available for sale are based upon the historical amortized cost and excludes equity securities.

- more -

TCF FINANCIAL CORPORATION AND SUBSIDIARIES

RECONCILIATION OF GAAP TO NON-GAAP MEASURES (1)

(Dollars in thousands)

(Unaudited)

	At Dec. 31,			At Dec. 31,
	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 Corp. 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 Dec. 31,			At Dec. 31,
	2011			2010
Computation of tier 1 risk-based capital ratio:
Total tier 1 capital	$	1,706,926		$	1,459,703
Total risk-weighted assets	$	13,475,330		$	13,936,629
Total tier 1 risk-based capital ratio	12.67		%	10.47		%

Computation of tier 1 common capital ratio:
Total tier 1 capital	$	1,706,926		$	1,459,703
Less:
Qualifying trust preferred securities	115,000			115,000
Qualifying non-controlling interest in subsidiaries	10,494			8,500
Total tier 1 common capital	$	1,581,432		$	1,336,203

Total tier 1 common capital ratio	11.74		%	9.59		%

(1) In contrast to GAAP-basis and regulatory capital-basis measures, tangible realized common equity excludes the effect of goodwill, other intangibles and accumulated other comprehensive income (loss) and the total tier 1 common capital ratio excludes the effect of qualifying trust preferred securities and qualifying non-controlling interest in subsidiaries. Management reviews these ratios as ongoing measures and has included this information because of current interest in the industry. The methodology for calculating these ratios may vary between companies.

###

TCF FINANCIAL CORP - FORM 8-K - EX-99.1 - January 24, 2012

Attached files

TCF FINANCIAL CORP Reports