Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Statements of Financial Condition

Condensed Statements of Financial Condition

	At December 31,
(In thousands)	2019		2018
Assets:
Cash and due from banks	$	157,103	$	91,132
Premises and equipment, net	3,813		78
Deferred tax asset	8,536		2,974
Investment in TCF Bank	5,526,078		2,426,329
Accounts receivable from TCF Bank	25,887		23,780
Other assets	40,961		1,201
Total assets	$	5,762,378	$	2,545,494
Liabilities and Equity:
Long term borrowings	$	19,021	$	—
Accrued expenses and other liabilities	36,342		7,693
Total liabilities	55,363		7,693
Equity	5,707,015		2,537,801
Total liabilities and equity	$	5,762,378	$	2,545,494

Condensed Statements of Income

Condensed Statements of Income

	Year Ended December 31,
(In thousands)	2019			2018			2017
Interest income	$	262		$	200		$	183
Interest expense	484			—			—
Net interest income	(222		)	200			183
Noninterest income:
Dividends from TCF Bank	225,000			431,000			65,000
Management fees	14,001			20,532			15,660
Other	581			426			13
Total noninterest income	239,582			451,958			80,673
Noninterest expense:
Compensation and employee benefits	18,677			20,282			16,233
Occupancy and equipment	470			301			275
Merger-Related expenses	69,944			—			—
Other	5,040			5,682			3,353
Total noninterest expense	94,131			26,265			19,861
Income before income tax benefit and equity in undistributed earnings (loss) of TCF Bank	145,229			425,893			60,995
Income tax benefit	15,513			952			1,575
Income before equity in undistributed earnings (loss) of TCF Bank	160,742			426,845			62,570
Equity in undistributed earnings (loss) of TCF Bank	134,726			(122,487		)	206,067
Net income	295,468			304,358			268,637
Preferred stock dividends	9,975			11,588			19,904
Impact of preferred stock redemption	—			3,481			5,779
Net income available to common shareholders	$	285,493		$	289,289		$	242,954

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended December 31,
(In thousands)	2019			2018			2017
Cash flows from operating activities:
Net income	$	295,468		$	304,358		$	268,637
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed (earnings) loss of TCF Bank	(134,726		)	122,487			(206,067		)
Share-based compensation expense	28,351			17,824			14,743
Depreciation and amortization	(640		)	4,986			9,110
Provision (benefit) for deferred income taxes	4,893			(583		)	4,690
Net gains (losses) on sales of assets	6			(402		)	—
Net change in other assets	(1,072		)	753			—
Net change in other liabilities	(1,154		)	(374		)	(2,494		)
Other, net	(21,719		)	(7,958		)	(12,645		)
Net cash provided by operating activities	169,407			441,091			75,974
Cash flows from investing activities:
Purchases of premises and equipment and lease equipment	(95		)	(3		)	(23		)
Proceeds from sales of premises and equipment	17			727			—
Net cash acquired in business combination	155,155			—			—
Net cash provided by (used in) investing activities	155,077			724			(23		)
Cash flows from financing activities:
Redemption of Series B preferred stock	—			(100,000		)	—
Net proceeds from public offering of Series C preferred stock	—			—			169,302
Redemption of Series A preferred stock	—			—			(172,500		)
Repurchases of common stock	(86,309		)	(212,929		)	(9,163		)
Common shares sold to TCF employee benefit plans	—			715			23,254
Dividends paid on preferred stock	(9,975		)	(11,588		)	(19,904		)
Dividends paid on common stock	(156,060		)	(99,490		)	(50,617		)
Payments related to tax-withholding upon conversion of share-based awards	(6,198		)	(6,865		)	(5,506		)
Exercise of stock options	29			(997		)	(57		)
Net cash used in financing activities	(258,513		)	(431,154		)	(65,191		)
Net change in cash and due from banks	65,971			10,661			10,760
Cash and due from banks at beginning of period	91,132			80,471			69,711
Cash and due from banks at end of period	$	157,103		$	91,132		$	80,471