Company profile

David T. Provost
Incorporated in
Fiscal year end
Industry (SEC)
Former names
Chemical Financial Corp
IRS number

TCF stock data



12 Nov 19
11 Dec 19
31 Dec 19


Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 49.63M
Net income 22.15M 69.59M 62.94M 73.04M
Diluted EPS 0.15 0.96 0.87 1.01
Net profit margin 44.63%
Net change in cash 730.26M 75.18M -69.48M -77.71M
Cash on hand 1.32B 592.76M 517.58M 587.06M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Net income 284.02M 149.52M 108.03M 86.83M
Diluted EPS 3.94 2.08 2.17 2.39
Net change in cash 131.07M -18.41M 235.61M 55.77M
Cash on hand 587.06M 455.99M 474.4M 238.79M

Financial data from company earnings reports

Financial report summary

Management Discussion
  • Performance Summary TCF reported net income of $22.1 million and $183.1 million for the three and nine months ended September 30, 2019, respectively, compared with $86.2 million and $218.7 million for the same periods in 2018. For the three and nine months ended September 30, 2019, net income included merger-related expenses of $111.3 million in addition to non-core items of $41.1 million. Non-core items, for both the three and nine months ended September 30, 2019, included the loss on transfer of legacy TCF auto finance portfolio to held-for-sale ($19.3 million), the termination of interest rate swaps ($17.3 million), the write-down of company-owned vacant land parcels due to an intent to sell ($5.9 million), and loan servicing rights impairment ($4.5 million), partially offset by the gain on sale of certain investment securities ($5.9 million). Net income included non-core items for the nine months ended September 30, 2018 a $32.0 million charge related to the settlement with the Consumer Financial Protection Bureau (the "CFPB") and Office of the Comptroller of the Currency (the "OCC"). Adjusted net income, excluding merger-related expenses and the identified non-core items, net of tax, a non-GAAP financial measure, was $128.3 million and $299.6 million for the three and nine months ended September 30, 2019, respectively, compared to $86.2 million and $244.2 million for the same periods in 2018. See "Non-GAAP Financial Measures" in this Management's Discussion and Analysis for further information.
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