TCF Financial reported Q2/15 net income of $52.3 million compared to net income of $53.1 million a year earlier. Net income for the first six months of $92.1 million was down from $97.9 million in Q2/14.

TCF said lease and loan originations were $3.9 billion for Q2/15, up 14.5% compared to Q2/14. The increase was primarily due to an increase in consumer real estate junior lien originations and growth in the lawn and garden segment of inventory finance.

The following highlights were excerpted from the TCF Financial news release:

• Q2/15 leasing and equipment finance income of $26.4 million was up 14.4% from $23.1 million in Q2/14. Year-to-date through June, 2015 income of $48.6 million was up 7.9% from $45.0 million a year earlier.
• Q2/15 net interest margin was 4.44%, down 21 basis points from 4.65% in Q2/14. TCF noted the decrease was primarily due to margin compression resulting from the competitive low interest rate environment.
• Q2/15 period end leasing and equipment finance loans and leases were $3.79 billion, up 7.4% from $3.53 billion a year earlier.
• For the six month period ended June 30, 2015 leasing and equipment finance average balance of $3.74 billion million and interest income of $87.2 million compared to $3.47 billion and interest income of $82.1 million a year earlier. The first-half yield of 4.66% was down from 4.72% a year earlier.

“TCF’s second quarter was highlighted by increased fee revenue, reduced expenses and continued strong loan and lease originations,” said William Cooper, chairmen and chief executive. “Banking fees experienced a seasonal rebound while our second auto loan securitization helped gains on sales of loasn return to a more normalized level. Expenses declined from the prior quarter as we focus on improving operating leverage moving forward.