TCF Financial Corporation
TCF Financial Corporation (TCB): A national bank operating branches in Illinois, Minnesota, Michigan, Wisconsin, Colorado, and Indiana. The bank, founded as a mutual thrift in 1923 with $500, now has almost $14 billion in assets and more than 1.6 million checking accounts.
TCF Financial has one of the country’s largest supermarket branch systems. These tend to be the bank’s most profitable branches.
The company collects low cost deposits by banking to the common man. Fee income accounts for an unusually large portion of the bank’s earnings. These fees greatly reduce TCF’s cost of funds, because they offset much of the interest paid on the deposits.
Over the last ten years, TCF has averaged a 1.77% return on assets and a 21.93% return on equity.
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