TCF income reported at $23.8M

WARREN — TCF Financial Corp., the holding company for TCF Bank, the former Chemical Bank, reported second quarter 2020 income of $23.8 million, or 14 cents per diluted share, which is down 54.2 percent from the first quarter of 2020.

Other financial highlights the company released this week include a loan and lease balance decline of 1.1 percent from the end of March, largely due to declines in commercial, residential and industrial mortgage portfolios. That however, was offset by $1.8 billion in federal Paycheck Protection Program loans.

Deposits grew 9.5 percent compared with the end of the first quarter and the company reported quarterly cash dividend on common stock of 35 cents per share.


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