TCF Financial Corporation CHFC Income Statement

Tcf financial corporation (CHFC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income
Interest and fees on loans and leases
443,096	541,145	417,370	188,875	283,238	490,762	269,167	165,388	156,818	544,358	148,771	141,314	132,485	134,463	97,103	77,578	74,401	75,253	73,809	64,613	58,097	57,140	52,343	50,751	49,195	50,639	49,017	48,029	47,905	48,721	48,322	47,894	48,256	49,515	49,770	49,172	49,440	51,485	48,278
Interest on investment securities:
Taxable
40,920	37,109	31,038	21,214	16,666	2,783	11,498	14,706	12,419	1,611	9,326	7,125	4,756	4,687	2,575	1,798	1,929	2,044	2,233	2,202	2,307	2,322	2,194	2,248	2,383	2,497	2,714	2,585	2,438	2,280	2,458	2,587	2,565	2,539	2,335	2,225	2,324	2,718	2,964
Tax-exempt
4,349	-1,715	3,385	7,297	2,684	1,256	4,328	5,998	5,556	1,658	4,577	4,426	4,235	3,940	3,072	2,640	2,665	2,583	2,399	2,185	1,906	1,841	1,838	1,671	1,704	1,656	1,587	1,587	1,564	1,524	1,457	1,465	1,485	1,475	1,513	1,393	1,479	1,391	1,221
Interest on loans held-for-sale
1,561	-	-	-	825	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on loans held-for-sale
-	-	1,408	-	-	-	3,625	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other earning assets
-	-	6,607	-	-	-	3,089	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends on nonmarketable equity securities
5,466	-	-	2,401	3,481	-	-	2,189	1,901	-	1,039	1,246	621	582	358	777	256	633	266	551	198	415	160	411	238	404	150	400	151	403	128	380	130	360	114	368	123	81	295
Total interest on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on deposits with the Federal Reserve Bank and other banks and federal funds sold
-	-	-	1,641	-	-	-	1,301	1,240	-	1,231	1,022	799	744	454	144	213	116	144	128	122	89	94	99	125	127	110	180	321	198	136	141	228	241	266	281	309	323	204
Total interest income
495,392	599,131	459,808	221,428	306,894	500,106	291,707	189,582	177,934	568,772	164,944	155,133	142,896	144,416	103,562	82,937	79,464	80,629	78,851	69,679	62,630	61,807	56,629	55,180	53,645	55,323	53,578	52,781	52,379	53,126	52,501	52,467	52,664	54,130	53,998	53,439	53,675	55,998	52,962
Interest expense
Interest on deposits
67,419	75,638	70,900	42,011	37,608	44,587	27,479	19,707	15,917	34,040	12,926	10,582	8,916	8,866	5,836	4,260	4,059	4,120	4,304	3,630	3,352	3,414	3,469	3,626	3,745	3,893	4,160	4,264	4,566	4,783	5,238	5,659	6,102	6,665	7,199	7,551	7,878	9,314	9,202
Interest on collateralized customer deposits
-	-	-	537	-	-	-	641	524	-	462	196	150	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on short-term borrowings
-	-	-	11,345	-	-	-	10,408	8,166	-	6,129	4,463	1,508	572	459	226	100	110	144	101	98	107	92	94	121	125	124	121	114	109	105	108	104	106	117	151	150	168	161
Interest on long-term borrowings
26,492	37,726	17,115	2,374	14,857	29,665	10,726	1,289	1,464	21,839	1,799	1,944	2,225	2,228	458	956	975	-	786	-	-	-	-	-	-	0	0	0	47	240	248	254	263	274	413	443	442	623	708
Interest Expense, Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	213	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total interest expense
93,911	101,482	88,015	56,267	52,465	54,513	38,205	32,045	26,071	42,971	21,316	17,185	12,799	11,969	6,753	5,442	5,134	5,153	5,234	3,944	3,450	3,563	3,561	3,720	3,866	4,018	4,284	4,385	4,727	5,132	5,591	6,021	6,469	7,045	7,729	8,145	8,470	10,105	10,071
Net interest income
401,481	497,649	371,793	165,161	254,429	445,593	253,502	157,537	151,863	525,801	143,628	137,948	130,097	132,447	96,809	77,495	74,330	75,476	73,617	65,735	59,180	58,244	53,068	51,460	49,779	51,305	49,294	48,396	47,652	47,994	46,910	46,446	46,195	47,085	46,269	45,294	45,205	45,893	42,891
Provision for credit losses
96,943	20,470	27,188	7,502	10,122	28,670	2,270	9,572	6,256	52,665	5,499	6,229	4,050	6,272	4,103	3,000	1,500	2,000	1,500	1,500	1,500	1,500	1,500	1,500	1,600	2,000	3,000	3,000	3,000	5,000	4,500	4,000	5,000	5,100	6,400	7,000	7,500	8,600	12,700
Net interest income after provision for credit losses
304,538	477,179	344,605	157,659	244,307	416,923	251,232	147,965	145,607	473,136	138,129	131,719	126,047	126,175	92,706	74,495	72,830	73,476	72,117	64,235	57,680	56,744	51,568	49,960	48,179	49,305	46,294	45,396	44,652	42,994	42,410	42,446	41,195	41,985	39,869	38,294	37,705	37,293	30,191
Noninterest income
Noninterest income
136,963	-	49,631	-	51,561	-	55,492	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gains on sales of loans and leases
20,590	19,543	-5,984	4,532	8,217	3,814	8,502	8,844	12,535	21,038	5,241	9,879	9,160	14,420	4,439	1,595	1,405	1,606	1,436	1,688	1,403	1,590	1,166	1,491	794	637	1,038	1,649	2,012	2,538	1,457	1,417	1,185	1,145	1,173	499	1,064	1,204	915
Net gains (losses) on investment securities
0	-3,086	5,900	4,160	451	251	94	3	0	69	1	77	90	76	16	18	19	18	5	28	579	0	0	0	0	29	0	257	847	34	0	0	0	-	-	-	-	82	-
Gain on sale of merchant card services
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,280	-	0	-	-	-	-
Other
13,583	18,992	-12,309	8,504	6,624	7,541	6,243	7,494	7,491	6,867	4,921	6,143	6,038	7,948	2,656	702	682	690	509	392	316	189	157	184	167	172	275	325	89	418	54	661	69	200	53	21	188	77	58
Total noninterest income
136,963	229,606	94,258	38,164	103,504	263,761	112,064	38,018	40,554	324,363	32,122	41,568	38,010	54,264	27,770	20,897	19,419	20,052	20,215	20,674	19,275	18,227	15,351	15,801	13,716	13,578	14,644	15,948	16,239	14,696	12,719	13,944	13,325	13,991	11,225	10,902	10,772	11,119	11,000
Noninterest expense
Compensation and employee benefits
171,528	235,106	155,745	62,129	123,942	265,495	124,996	56,148	55,557	338,887	52,590	52,247	59,894	58,280	40,565	33,127	33,890	32,971	33,985	31,711	29,253	28,628	24,885	24,860	24,184	24,357	24,065	24,628	23,369	22,537	20,738	20,539	20,569	18,871	19,229	18,068	18,325	18,015	17,214
Occupancy and equipment
57,288	90,835	49,229	7,786	41,710	107,812	42,337	7,679	8,011	133,905	6,871	8,745	7,392	7,644	5,462	5,514	4,905	4,620	4,781	4,386	4,426	4,201	3,629	3,638	4,374	3,485	3,406	3,380	3,663	3,149	3,137	2,973	3,154	3,444	3,093	3,099	3,338	2,903	2,734
Lease financing equipment depreciation
18,450	-	19,408	-	19,256	-	19,525	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net foreclosed real estate and repossessed assets
1,859	-	2,203	-	4,630	-	3,880	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equipment and software
-	-	-	7,076	-	-	-	8,276	7,659	-	7,582	8,149	8,517	8,709	6,420	4,875	4,404	5,102	4,589	4,480	4,398	4,276	3,587	3,413	3,461	3,483	3,354	3,447	3,450	3,461	3,406	3,127	3,118	2,941	3,162	3,110	2,722	3,698	3,698
Outside processing and service fees
-	-	-	12,206	-	-	-	10,673	10,356	-	9,626	8,924	7,511	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related expenses
36,728	48,209	111,259	3,042	9,458	0	0	0	0	-7,011	2,379	465	4,167	17,982	37,470	3,054	2,594	2,085	900	3,457	1,362	-	1,279	647	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring expenses
-	-	-	-	-	-	-	-	-	-	18,824	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
88,746	143,097	87,776	18,764	54,079	157,989	55,685	21,785	20,027	267,657	21,667	19,707	16,715	454	16,227	12,515	13,094	-2,161	14,010	12,751	11,581	11,049	9,322	9,867	10,163	11,080	8,720	9,586	11,475	12,881	9,442	9,560	10,130	15,041	9,910	9,136	11,004	11,600	11,004
Total noninterest expense
374,599	542,417	425,620	111,003	253,075	561,806	246,423	104,561	101,610	737,962	119,539	98,237	104,196	114,302	106,144	59,085	58,887	57,824	58,265	56,785	51,020	52,616	42,702	42,425	42,182	42,405	39,545	41,041	41,957	42,028	36,723	36,199	36,971	40,297	35,394	33,413	35,389	36,216	34,650
Income before income tax expense
66,902	164,368	13,243	84,820	94,736	118,878	116,873	81,422	84,551	59,537	50,712	75,050	59,861	66,137	14,332	36,307	33,362	35,704	34,067	28,124	25,935	22,355	24,217	23,336	19,713	20,478	21,393	20,303	18,934	15,662	18,406	20,191	17,549	15,679	15,700	15,783	13,088	12,196	6,541
Income tax expense
13,086	25,463	-11,735	15,226	21,287	32,673	28,034	12,434	12,955	-79,170	10,253	23,036	12,257	18,969	2,848	10,532	9,757	10,200	9,600	9,100	8,100	7,050	7,450	7,100	5,900	6,100	6,400	6,100	5,700	4,000	5,300	6,325	5,175	4,475	4,075	4,750	3,900	3,325	2,150
Income after income tax expense
53,816	-	24,978	-	73,449	-	88,839	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income attributable to non-controlling interest
1,917	-	2,830	-	2,955	-	2,643	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to TCF Financial Corporation
51,899	133,232	22,148	69,594	70,494	77,578	86,196	68,988	71,596	128,560	40,459	52,014	47,604	47,168	11,484	25,775	23,605	25,504	24,467	19,024	17,835	15,305	16,767	16,236	13,813	14,378	14,993	14,203	13,234	11,662	13,106	13,866	12,374	11,204	11,625	11,033	9,188	8,871	4,391
Preferred stock dividends
2,493	-	2,494	-	2,493	-	2,494	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impact of preferred stock redemption
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to common shareholders
49,406	-	19,654	-	68,001	-	83,702	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share:
Basic earnings per common share (in usd per share)
0.33	0.61	0.15	0.97	0.83	0.46	1.00	0.97	1.01	0.86	0.57	0.73	0.67	0.70	0.23	0.67	0.61	0.69	0.64	0.54	0.54	0.47	0.51	0.54	0.46	0.48	0.54	0.52	0.48	0.43	0.48	0.50	0.45	0.42	0.42	0.40	0.33	0.32	0.17
Diluted earnings per common share (in usd per share)
0.32	0.61	0.15	0.96	0.83	0.48	1.00	0.96	0.99	0.87	0.56	0.73	0.67	0.67	0.23	0.67	0.60	0.67	0.64	0.54	0.54	0.46	0.51	0.54	0.46	0.48	0.53	0.51	0.48	0.42	0.48	0.50	0.45	0.42	0.42	0.40	0.33	0.32	0.17
Weighted-average common shares outstanding
Weighted-average common shares outstanding
Basic (in shares)
151,902	-	-	-	82,245	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets
-17,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (in shares)
152,114	-	-	-	82,245	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends declared per common share (dollars per share)
-	-	-	-	-	-	-	-	-	-	0.28	0.27	0.27	-	0.27	0.26	0.26	0.26	0.26	0.24	0.24	0.24	0.24	0.23	0.23	0.23	0.22	0.21	0.21	0.21	0.21	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20
Leasing revenue
Noninterest income
33,565	-	39,590	-	38,165	-	41,944	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees and service charges on deposit accounts
Noninterest income
34,597	58,951	34,384	8,247	26,278	64,943	29,175	9,690	9,434	89,639	9,147	8,777	8,004	11,002	7,665	6,337	5,720	6,398	6,722	6,445	5,916	6,386	5,612	5,486	4,930	5,519	5,690	5,535	5,195	5,035	5,028	5,013	4,505	4,948	4,780	4,628	4,096	4,680	5,091
Card and ATM revenue
Noninterest income
21,685	-	23,315	-	18,659	-	20,074	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Servicing fee revenue
Noninterest income
6,792	4,790	5,121	5,755	5,110	11,720	6,032	4,799	4,783	16,098	6,624	9,734	8,891	7,393	7,410	6,463	6,392	6,189	6,818	6,516	5,990	5,366	4,686	4,682	4,194	3,925	4,272	4,303	4,651	3,743	3,435	3,684	3,365	5,024	2,581	2,728	2,658	2,555	2,333
Wealth management revenue
Noninterest income
6,151	-794	4,241	6,966	0	-13,499	0	7,188	6,311	-18,973	6,188	6,958	5,827	6,034	5,584	5,782	5,201	5,151	4,725	5,605	5,071	4,696	3,730	3,958	3,631	3,296	3,369	3,879	3,445	2,928	2,745	3,169	2,921	2,674	2,638	3,026	2,766	2,521	2,603