TCF Financial reported Q2/13 net income of $34.1 million compared with net income of $31.5 million for Q2/12 and compared with net income of $25.5 million for Q1/13. TCF said net income for the first six months of 2013 of $59.5 million, compared with a net loss of $251.4 million for the same period in 2012 (inclusive of a net after-tax charge of $295.8 million related to a balance sheet repositioning involving certain investments and borrowings in the first quarter of 2012).

TCF noted that its leasing and equipment finance revenue was $22.9 million during the second quarter, up $6.4 million or 39% sequentially, but down 1.4% from $23.2 million one-year ago. Year-to-date revenue of $39.3 million was down 14.6% compared to $46.1 million for the same period in 2012.

The average balance of leasing and equipment finance in Q2/13 was $3.237 billion with interest income of $40.0 million and a yield of 4.94% compared to a Q2/12 average balance of $3.146 billion, interest income of $43.1 million and yield of 5.48%.

“During the second quarter, TCF experienced solid increases throughout its multiple core revenue sources and another quarter of solid improvement in credit trends,” said William A. Cooper, chairman and chief executive officer. “Over the last three quarters, TCF has seen continued improvement in our credit metrics, particularly in the consumer real estate portfolio where home values have risen and consumer confidence has strengthened, and we have maintained strong performance in our national businesses.”

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