TCF Financial Corp. (TCB) Posts Q4 EPS of $0.12

TCF Financial Corp. (NYSE: TCB) reported Q4 EPS of $0.12, which includes items and does not compare to the analyst estimate of $0.29. Revenue for the quarter came rose 2.1% from last year to $313.8 million.

"TCF completed a strong year as earnings per share increased 14.6 percent from 82 cents in 2013 to 94 cents in 2014," said William A. Cooper, Chairman and Chief Executive Officer. "This earnings per share growth in 2014 occurred despite a pre-tax charge of 17 cents related to the sale of consumer troubled debt restructurings and additional provision for credit losses during the fourth quarter. This sale allowed us to reduce balance sheet credit risk and provide further diversification of our loan and lease portfolio by reducing the high concentration of legacy consumer real estate loans. I believe that the clean-up of this portfolio gives us a fresh start and will significantly reduce credit and operating costs as we move into 2015.

"Overall, 2014 was highlighted by strong loan and lease originations, a focus on diversification of both revenue and earning assets, one of the highest net interest margins in the industry and continued strong credit quality particularly in our national lending businesses. While I am pleased with where we stand today, our focus is on the future and I believe we have the team in place to fulfill our goals moving forward."

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

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