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TCF: 1Q Earnings Snapshot

WAYZATA, Minn. (AP) _ TCF Financial Corp. (TCF) on Monday reported first-quarter net income of $70.5 million.

The bank, based in Wayzata, Minnesota, said it had earnings of 42 cents per share. Earnings, adjusted for one-time gains and costs, were 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The holding company for TCF National Bank posted revenue of $410.3 million in the period. Its revenue net of interest expense was $357.9 million, missing Street forecasts. Five analysts surveyed by Zacks expected $363.9 million.

TCF shares have increased 14 percent since the beginning of the year. The stock has dropped slightly more than 2 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TCF at https://www.zacks.com/ap/TCF