TCF Financial Corporation (TCF) Tops Q2 EPS by 3c, Beats on Revenues

TCF Financial Corporation (NYSE: TCF) reported Q2 EPS of $0.33, $0.03 better than the analyst estimate of $0.30. Revenue for the quarter came in at $341.8 million versus the consensus estimate of $228.2 million.

SECOND QUARTER OBSERVATIONS

• Revenue of $341.8 million, up 3.3 percent from the second quarter of 2016
• Net interest income of $227.2 million, up 6.7 percent from the second quarter of 2016
• Net interest margin of 4.52 percent, up 17 basis points from the second quarter of 2016
• Period-end loans and leases of $18.4 billion, up 5.1 percent from June 30, 2016
• Net charge-offs as a percentage of average loans and leases of 0.28 percent, up 5 basis points from the second quarter of 2016
• Non-accrual loans and leases of $129.3 million, down 33.9 percent from June 30, 2016
• Average deposits of $17.3 billion, up 0.2 percent from the second quarter of 2016
• Efficiency ratio of 68.19%, down 50 bps from the second quarter of 2016
• Effective income tax rate of 28.9 percent, down 400 basis points from the second quarter of 2016
• Earnings per share of 33 cents, up 6.5 percent from the second quarter of 2016

For earnings history and earnings-related data on TCF Financial Corporation (TCF) click here.

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