TCF Financial Corp. (TCB) Misses Q1 EPS by 1c

TCF Financial Corp. (NYSE: TCB) reported Q1 EPS of $0.25, $0.01 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $242.3 million versus the consensus estimate of $233 million.

FIRST QUARTER HIGHLIGHTS

• Revenue of $325.6 million, up 0.4 percent from the first quarter of 2016
• Net interest income of $222.1 million, up 4.9 percent from the first quarter of 2016
• Net interest margin of 4.46 percent, up 9 basis points from the first quarter of 2016
• Period-end loans and leases of $18.0 billion, up 0.7 percent from March 31, 2016
• Loan and lease originations of $4.0 billion, down 1.0 percent from the first quarter of 2016
• Net charge-offs as a percentage of average loans and leases of 0.11 percent, down 16 basis points from the first quarter of 2016
• Non-accrual loans and leases of $139.0 million, down 30.0 percent from March 31, 2016
• Average deposits of $17.1 billion, up 1.3 percent from the first quarter of 2016
• Effective income tax rate of 30.0 percent, down 480 basis points from the first quarter of 2016
• Earnings per share of 25 cents, down 3.8 percent from the first quarter of 2016

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

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