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TCF reports revenue growth in Q2

TCF Financial Corporation (NYSE: TCF) reported net income of $60.4 million for the second quarter of 2017, compared with $57.7 million for the second quarter of 2016 and $46.3 million for the first quarter of 2017. Diluted earnings per common share were 33 cents for the second quarter of 2017, compared with 31 cents for the second quarter of 2016 and 25 cents for the first quarter of 2017.

“TCF reported solid second quarter results driven by strong revenue and balance sheet growth and stable credit quality,” said Craig R. Dahl, chairman and chief executive officer. “TCF’s strong growth in net interest income was a key driver in creating a more stable source of revenue. We were able to generate margin expansion on both a linked quarter and year-over-year basis primarily due to our asset sensitive balance sheet. In addition, a strong quarter of leasing and equipment finance revenue continues to demonstrate the strength of our diversified model.

“TCF’s auto finance business is performing as expected following the announced strategic shift last quarter.”

 

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