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TCF FINANCIAL CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed May 7, 2021. Its latest SEC filing is a SC 13G from Jun 21, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides consumer and commercial banking, wealth management, and specialty lending and leasing to consumers, small businesses and commercial customers.

How Did They Make Money?

Earns interest and fees from customers, along with revenue from noncustomers. Account fees may be monthly or per transaction; wealth-management services generate fees over the service period, and brokerage commissions when a trade is completed.

revenue

Who Were Their Customers?

Serves consumers, small businesses and commercial customers through banking, lending and wealth services; consumer and small-business banking is available through physical and digital channels.

Did Revenues Turn Into Profits?

Yes. It kept 13 cents of every revenue dollar as net income in .

Net income,
13% of revenue
▼ −25% vs ($295.5M, 63%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q1 FY2021, the three months to Mar 31, 2021
Revenue
▼ −18%
vs $495.4M in Q1 FY2020
Net income
▲ +138%
vs $51.9M in Q1 FY2020
Consumer Banking share of revenue vs 90.9% in Q1 FY2020
  • Jun 9, 2021 TCF merged into Huntington and ceased to exist separately TCF Bank also merged into Huntington's bank, and TCF shares were removed from Nasdaq listing.
  • May 25, 2021 TCF agreed to divest 14 branches to Horizon Bank The agreement followed regulatory approval of the Huntington merger; the branch sale remained subject to regulatory approval and closing conditions.

Grew. Revenue grew 4.3x in 4 years, from $410.4M in to $1.8B in , about 44% a year.

Revenue over time
Consumer Banking Commercial Banking Enterprise Services
$250M$125M$0

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