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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Interest and fees on loans and leases $ 373,112 $ 417,370 $ 1,209,034 $ 983,890
Interest on investment securities:        
Taxable 35,648 31,038 109,073 69,745
Tax-exempt 3,892 3,385 12,396 7,277
Interest on loans held-for-sale 3,829 1,408 8,712 2,832
Interest on other earning assets 3,967 6,607 14,995 13,739
Total interest income 420,448 459,808 1,354,210 1,077,483
Interest expense        
Interest on deposits 31,852 70,900 146,056 149,154
Interest on borrowings 11,429 17,115 51,147 48,050
Total interest expense 43,281 88,015 197,203 197,204
Net interest income 377,167 371,793 1,157,007 880,279
Provision for credit losses 69,664 27,188 245,333 50,879
Net interest income after provision for credit losses 307,503 344,605 911,674 829,400
Noninterest income        
Noninterest income 118,810 94,258 388,827 307,480
Net gains (losses) on sales of loans and leases 23,490 (5,984) 73,114 13,374
Net gains on investment securities 2,324 5,900 2,332 7,417
Other 5,411 (12,309) 33,119 (312)
Total noninterest income 118,810 94,258 388,827 307,480
Noninterest expense        
Compensation and employee benefits 168,323 155,745 511,650 395,953
Occupancy and equipment 48,233 49,229 159,628 132,789
Lease financing equipment depreciation 17,932 19,408 54,594 57,797
Net foreclosed real estate and repossessed assets 1,518 2,203 4,375 9,281
Merger-related expenses 54,011 111,259 172,358 124,943
Other 83,423 87,776 245,675 194,781
Total noninterest expense 373,440 425,620 1,148,280 915,544
Income before income tax (benefit) expense 52,873 13,243 152,221 221,336
Income tax (benefit) expense (4,429) (11,735) 14,870 28,866
Income after income tax (benefit) expense 57,302 24,978 137,351 192,470
Income attributable to non-controlling interest 1,564 2,830 5,950 9,401
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
Earnings per common share:        
Basic earnings per common share (in usd per share) $ 0.35 $ 0.15 $ 0.82 $ 1.79
Diluted earnings per common share (in usd per share) $ 0.35 $ 0.15 $ 0.82 $ 1.79
Weighted-average common shares outstanding        
Basic (in shares) 151,768,337 128,575,171 151,761,299 97,876,262
Diluted (in shares) 151,821,592 128,754,588 151,826,928 98,055,279
Leasing revenue        
Noninterest income        
Noninterest income $ 31,905 $ 39,590 $ 102,642 $ 117,032
Fees and service charges on deposit accounts        
Noninterest income        
Noninterest income 25,470 34,384 82,899 88,504
Card and ATM revenue        
Noninterest income        
Noninterest income 23,383 23,315 65,704 62,470
Wealth management revenue        
Noninterest income        
Noninterest income 6,506 4,241 18,863 4,241
Servicing fee revenue        
Noninterest income        
Noninterest income $ 321 $ 5,121 $ 10,154 $ 14,754