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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans and leases $ 392,826 $ 283,282 $ 835,922 $ 566,520
Interest on investment securities:        
Taxable 32,505 22,041 73,425 38,707
Tax-exempt 4,155 1,208 8,504 3,892
Interest on loans held-for-sale 3,322 599 4,883 1,424
Interest on other earning assets 5,562 3,651 11,028 7,132
Total interest income 438,370 310,781 933,762 617,675
Interest expense        
Interest on deposits 46,785 40,646 114,204 78,254
Interest on borrowings 13,226 16,078 39,718 30,935
Total interest expense 60,011 56,724 153,922 109,189
Net interest income 378,359 254,057 779,840 508,486
Provision for credit losses 78,726 13,569 175,669 23,691
Net interest income after provision for credit losses 299,633 240,488 604,171 484,795
Noninterest income        
Noninterest income 133,054 109,718 270,017 213,222
Net gains on sales of loans and leases 29,034 11,141 49,624 19,358
Net gains on investment securities 8 1,066 8 1,517
Other 14,125 5,373 27,708 11,997
Total noninterest income 133,054 109,718 270,017 213,222
Noninterest expense        
Compensation and employee benefits 171,799 116,266 343,327 240,208
Occupancy and equipment 54,107 41,850 111,395 83,560
Lease financing equipment depreciation 18,212 19,133 36,662 38,389
Net foreclosed real estate and repossessed assets 998 2,448 2,857 7,078
Merger-related expenses 81,619 4,226 118,347 13,684
Other 73,506 52,926 162,252 107,005
Total noninterest expense 400,241 236,849 774,840 489,924
Income before income tax expense 32,446 113,357 99,348 208,093
Income tax expense 6,213 19,314 19,299 40,601
Income after income tax expense 26,233 94,043 80,049 167,492
Income attributable to non-controlling interest 2,469 3,616 4,386 6,571
Net income attributable to TCF Financial Corporation 23,764 90,427 75,663 160,921
Preferred stock dividends 2,494 2,494 4,987 4,987
Net income available to common shareholders $ 21,270 $ 87,933 $ 70,676 $ 155,934
Earnings per common share:        
Basic earnings per common share (in usd per share) $ 0.14 $ 1.07 $ 0.47 $ 1.89
Diluted earnings per common share (in usd per share) $ 0.14 $ 1.07 $ 0.47 $ 1.89
Weighted-average common shares outstanding        
Basic (in shares) 151,613,126 82,298,920 151,757,742 82,272,396
Diluted (in shares) 151,660,139 82,298,920 151,837,226 82,272,396
Leasing revenue        
Noninterest income        
Noninterest income $ 37,172 $ 39,277 $ 70,737 $ 77,442
Fees and service charges on deposit accounts        
Noninterest income        
Noninterest income 22,832 27,842 57,429 54,120
Card and ATM revenue        
Noninterest income        
Noninterest income 20,636 20,496 42,321 39,155
Wealth management revenue        
Noninterest income        
Noninterest income 6,206 0 12,357 0
Servicing fee revenue        
Noninterest income        
Noninterest income $ 3,041 $ 4,523 $ 9,833 $ 9,633