TCF Financial Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net income attributable to the company of $24.0 million compared with $40.0 million for the fourth quarter of 2013. Diluted earnings per common share were 12 cents compared with 22 cents for the fourth quarter of 2013. Total interest income was $219.808 million against $215.929 million a year ago. Net interest income was $204.074 million against $201.862 million a year ago. Income before income tax expense was $36.487 million against $64.013 million a year ago. Net income available to common stockholders was $19.141 million against $35.148 million a year ago. Annualized return on average tangible common equity was 4.80% against 9.83% a year ago. Adjusted net income available to common stockholders was $19.407 million against $35.467 million a year ago. Return on average assets was 0.53% against 0.90% a year ago. Return on average common equity was 4.15% against 8.39% a year ago. The increase in net interest income was primarily driven by higher average loan and lease balances in the auto finance, leasing and equipment finance and inventory finance businesses, partially offset by lower average consumer real estate loan balances due to run-off as well as continued margin reduction.

For the year, the company reported net income to the company of $174.2 million compared with $151.7 million for the same period in 2013. Diluted earnings per common share were 94 cents compared with 82 cents for the same period in 2013. Total interest income was $874.229 million against $864.540 million a year ago. Net interest income was $815.629 million against $802.624 million a year ago. Income before income tax expense was $281.382 million against $243.045 million a year ago. Net income available to common stockholders was $154.799 million against $132.603 million a year ago. Annualized return on average tangible common equity was 10.08% against 9.58% a year ago. Adjusted net income available to common stockholders was $155.861 million against $134.082 million a year ago. Return on average assets of 0.96% against 0.87% a year ago. Return on average assets was 0.53% against 0.90% a year ago. Return on average common equity was 8.71% against 8.12% a year ago.

The company's net charge-offs were $16.6 million for the fourth quarter of 2014, a decrease of $13.5 million, or 44.8%, from the fourth quarter of 2013 of $30.096 million. The decrease from the fourth quarter of 2013 was primarily due to improved credit quality in both the commercial and consumer real estate loan portfolios.