DETROIT (AP) _ TCF Financial Corporation (TCF) on Monday reported second-quarter earnings of $23.8 million.
The Detroit-based bank said it had earnings of 14 cents per share. Earnings, adjusted for one-time gains and costs, were 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The financial holding company posted revenue of $571.4 million in the period. Its revenue net of interest expense was $511.4 million, missing Street forecasts. Four analysts surveyed by Zacks expected $527.8 million.
TCF Financial shares have dropped 41% since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.64, a drop of 36% in the last 12 months.