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Huntington Bancshares in Columbus, Ohio, reported higher quarterly in profit that reflected higher in mortgage banking fees and steady loan growth.
July 23 -
TCF Financial has designed a new logo and launched a new marketing campaign to improve its image, which has taken a hit lately according to recent customer-satisfaction surveys.
May 28 -
TCF Financial in Wayzata, Minn., has a new president. The $19.4 billion-asset company said in a press release Tuesday that Craig Dahl had taken on the newly created post.
March 24
TCF Financial in Wayzata, Minn., reported lower second-quarter profit as it paid more in salaries and employee benefits and a larger loss provision ate into net interest income.
The $19.8 billion-asset company's net income fell 1.8% to $47.4 million, or 29 cents per share, from a year earlier. That's a penny better than the average estimate of analysts polled by Bloomberg.
TCF's provision for credit losses rose 26% to $12.5 million. Net interest income after the provision fell 1.4% to $193.5 million. The net interest margin compressed 21 basis points to 4.44%.
Fee income rose 9.1% to $113.4 million. TCF benefited on higher gains on sales of both auto loans and consumer real estate loans. Fees from leasing and equipment finance also increased. Those categories helped offset a 4.6% decline in deposit service charges to $36.3 million.
TCF's second auto loan securitization contributed to the higher gains on sales from auto loans, William Cooper, chairman and chief executive, said in a
Noninterest expense rose 4.7% to $223.1 million. Compensation and employee benefits rose 5.9% to $116.2 million. TCF added more staff during the quarter for its auto-finance unit.
