Earnings Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

The computations of basic and diluted earnings per common share were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in thousands, except per share data)	2020		2019		2020		2019
Basic earnings per common share
Net income attributable to TCF Financial Corporation	$	55,738	$	22,148	$	131,401	$	183,069
Preferred stock dividends	2,494		2,494		7,481		7,481
Net income available to common shareholders	53,244		19,654		123,920		175,588
Less: Earnings allocated to participating securities	—		—		—		19
Earnings allocated to common stock	$	53,244	$	19,654	$	123,920	$	175,569
Weighted-average common shares outstanding used in basic earnings per common share calculation	151,768,337		128,575,171		151,761,299		97,876,262
Basic earnings per common share	$	0.35	$	0.15	$	0.82	$	1.79
Diluted earnings per common share
Earnings allocated to common stock	$	53,244	$	19,654	$	123,920	$	175,569
Weighted-average common shares outstanding used in basic earnings per common share calculation	151,768,337		128,575,171		151,761,299		97,876,262
Net dilutive effect of:
Non-participating restricted stock	26,163		73,698		12,383		139,795
Stock options	27,092		105,719		53,246		39,222
Weighted-average common shares outstanding used in diluted earnings per common share calculation	151,821,592		128,754,588		151,826,928		98,055,279
Diluted earnings per common share	$	0.35	$	0.15	$	0.82	$	1.79
Anti-dilutive shares outstanding not included in the computation of diluted earnings per common share
Non-participating restricted stock	2,303,249		1,271,045		2,531,355		1,271,045
Stock options	323,386		97,980		228,106		97,980