TCF Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Net Charge-Offs for the Fourth Quarter of 2013
For the full year, the company reported net interest income of $802,624,000 against $780,019,000 a year ago. Income before income tax expense was $243,045,000 against loss before income tax expense of $339,555,000 a year ago. Net income available to common stockholders was $132,603,000 or $0.82 per diluted share against net loss available to common stockholders of $218,490,000 or $1.37 per diluted share a year ago.
The company's net charge-offs were $30.1 million for the fourth quarter of 2013, an increase of $2.5 million from the third quarter of 2013 and a decrease of $15.4 million from the fourth quarter of 2012. The increase from September 30, 2013 was primarily driven by a charge-off on one large commercial loan reserved for in a previous quarter.