TCF Financial (TCB) has spent the last year investing in new business lines, revamping its deposit products and repositioning its balance sheet, and now it's ready to start reaping the benefits.

Though the Wayzata, Minn., company continues to struggle with high levels of problem loans, Chief Executive William Cooper told analysts Wednesday that its core profits are strong and that it can continue to improve earnings without making acquisitions or further tweaking its strategy.

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