TCF Financial Corp. of Wayzata, Minn., announced Wednesday that first-quarter earnings rose 5% from a year earlier, to $63.5 million.
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Diluted earnings per share rose 7%, to 47 cents, which beat analyst expectations by a penny.
Net interest income rose 9%, to $129 million. The $12.7 billion-asset company attributed the growth to increases in assets and liabilities and higher short-term interest rates.
Noninterest income fell 2.6%, to $112 million. Retail banking fees were flat, and gains on securities for sale fell 59%, to $5.2 million. Mortgage banking fees dropped 67%.
TCF has 430 branches, including 24 it has opened since the first quarter of last year.
