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TCF TCF Financial

TCF Financial Corporation is a Detroit, Michigan-based financial holding company with $48 billionin total assets at Sept. 30, 2020 and a top 10 deposit market share in the Midwest. TCF's primary banking subsidiary, TCF National Bank, is a premier Midwest bank offering consumer and commercial banking, trust and wealth management, and specialty leasing and lending products and services to consumers, small businesses and commercial clients. TCF has approximately 475 branches primarily located in Michigan, Illinoisand Minnesotawith additional locations in Colorado, Ohio, South Dakotaand Wisconsin. TCF also conducts business across all 50 states and Canadathrough its specialty lending and leasing businesses.

Company profile

Ticker
TCF, TCFCP
Exchange
Website
CEO
Craig Dahl
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CHEMICAL FINANCIAL CORP
SEC CIK
IRS number
382022454

TCF stock data

(
)

Calendar

26 Feb 21
12 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.26B 1.26B 1.26B 1.26B 1.26B 1.26B
Cash burn (monthly) 170.22M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 581.97M n/a n/a n/a n/a n/a
Cash remaining 678.62M n/a n/a n/a n/a n/a
Runway (months of cash) 4.0 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Apr 21 Butterfield Thomas John Common Stock Payment of exercise Dispose F No No 47.27 1,245 58.85K 81,118
1 Apr 21 Andrew J Jackson Common Stock Payment of exercise Dispose F No No 47.27 1,506 71.19K 30,851
1 Apr 21 Green Joseph T Common Stock Payment of exercise Dispose F No No 47.27 1,393 65.85K 60,908
1 Apr 21 R Patricia Kelly Common Stock Payment of exercise Dispose F No No 47.27 1,502 71K 49,472
29 Mar 21 Mahone Barbara J Common Stock Grant Aquire A Yes No 46.5483 268.539 12.5K 8,974.099

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

81.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 333 298 +11.7%
Opened positions 75 38 +97.4%
Closed positions 40 46 -13.0%
Increased positions 99 109 -9.2%
Reduced positions 117 98 +19.4%
13F shares
Current Prev Q Change
Total value 5.21B 8.44B -38.3%
Total shares 123.92M 125.23M -1.0%
Total puts 72K 38.9K +85.1%
Total calls 308.4K 166.5K +85.2%
Total put/call ratio 0.2 0.2 -0.1%
Largest owners
Shares Value Change
BLK Blackrock 15.36M $568.59M +0.7%
Vanguard 13.93M $515.54M +2.1%
Dimensional Fund Advisors 6.55M $242.61M +0.5%
Fuller & Thaler Asset Management 5.49M $203.36M -3.0%
Victory Capital Management 5.05M $187.08M -7.6%
STT State Street 4.73M $174.97M +9.1%
JPM JPMorgan Chase & Co. 4.68M $173.13M +4.9%
Cooke & Bieler 4.04M $149.54M -9.9%
BK Bank Of New York Mellon 3.24M $119.95M +28.4%
IVZ Invesco 3M $111.03M -22.4%
Largest transactions
Shares Bought/sold Change
Norges Bank 1.74M +1.74M NEW
Spring Creek Capital 1.29M +1.29M NEW
Magnetar Financial 1.28M +1.28M NEW
Lazard Asset Management 0 -1.17M EXIT
Balyasny Asset Management 1.03M +1.03M NEW
Wellington Management 94.74K -942.3K -90.9%
Provident Investment Management 71.88K -877.9K -92.4%
CNH Partners 874.77K +874.77K NEW
IVZ Invesco 3M -864.41K -22.4%
Rothschild & Co Asset Management Us 54.14K -784.21K -93.5%

Financial report summary

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Management Discussion
  • Performance Summary We reported net income of $222.8 million for 2020, compared with $295.5 million for 2019 and $304.4 million for 2018. Merger-related expenses included in net income totaled $203.9 million for the year ended December 31, 2020 and $172.0 million for the year ended December 31, 2019. Notable items, on a pre-tax basis, for the year ended December 31, 2020, included $17.6 million of loan servicing rights impairment, $14.2 million of gains on sales of branches, net of expense related to branch exit costs and $4.0 million of expense related to the sale of the Legacy TCF auto finance portfolio. Notable items, on a pre-tax basis, for the year ended December 31, 2019, included a $32.1 million loss on sale and expenses related to the Legacy TCF auto finance portfolio, a $17.3 million loss on termination of interest rate swaps, $9.4 million of expense associated with the write-down of company-owned vacant land parcels due to an intent to sell and branch exit costs, $6.3 million of expense related to pension fair valuation adjustment on plans with previously announced terminations, and $3.9 million of loan servicing rights impairment, partially offset by $5.9 million of gain on sales of certain investment securities. The year ended December 31, 2019, also included $11.8 million of tax basis adjustment benefits considered a notable item. For the year ended December 31, 2018, net income included a $32.0 million pre-tax charge related to the settlement to resolve certain matters with the Consumer Financial Protection Bureau (the "CFPB") and Office of the Comptroller of the Currency (the "OCC") considered a notable item. Adjusted net income, a non-GAAP financial measure that excludes merger-related expenses and the identified notable items, net of tax, was $389.5 million for the year ended December 31, 2020, compared to $461.2 million for 2019 and $329.9 million for 2018. See "Non-GAAP Financial Measures" in this Management's Discussion and Analysis for further information.
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