TCF Financial Corp. on Thursday reported a second-quarter profit of $45 million, nearly double a year earlier. Total revenue rose by $15 million year over a year, a 5% increase. The company's net interest margin also jumped, to 4.18%, from 3.80%.
On credit, however, TCF continued to build its reserves at a slow pace. It charged off $48 million in net assets but added $49 million to its allowance to have $252 million at the end of the period. That addition was down slightly from the first quarter.