TCF Financial Corporation (TCF) Tops Q1 EPS by 1c, Beats on Revenues

TCF Financial Corporation (NYSE: TCF) reported Q1 EPS of $0.39, $0.01 better than the analyst estimate of $0.38. Revenue for the quarter came in at $355.4 million versus the consensus estimate of $240.73 million.

FIRST QUARTER OBSERVATIONS

• Revenue of $355.4 million, up 9.1 percent from the first quarter of 2017
• Net interest income of $243.2 million, up 9.5 percent from the first quarter of 2017
• Net interest margin of 4.59 percent, up 13 basis points from the first quarter of 2017
• Period-end loans and leases of $19.4 billion, up 7.8 percent from March 31, 2017
• Net charge-offs as a percentage of average loans and leases of 0.29 percent, up 18 basis points from the first quarter of 2017
• Non-accrual loans and leases of $126.4 million, down 9.0 percent from March 31, 2017
• Average deposits of $18.3 billion, up 7.0 percent from the first quarter of 2017
• Efficiency ratio of 69.21 percent, improved 572 basis points from the first quarter of 2017
• Earnings per share of 39 cents, up 14 cents from the first quarter of 2017. Impact of 2 cents per share related to the redemption of the 6.45% Series B non-cumulative perpetual preferred stock.

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

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