TCF Financial reported net income for the fourth quarter of 2012 of $23.6 million, compared with net income of $16.4 million in the fourth quarter of 2011. For the full-year 2012, TCF reported a net loss of $218.5 million compared with net income of $109.4 million for the same year-ago period. TCF said the net loss resulted primarily from a net after-tax charge of $295.8 million related to a balance sheet repositioning involving certain investments and borrowings.

The bank noted that total loan and lease originations were $2.8 billion for Q4/12, an increase of $1.4 billion, or 105.1%, compared with Q4/11. TCF said the increase was primarily due to strong growth in its national lending businesses as it expanded it origination sources through new segments, programs and dealers.

TCF said leasing and equipment finance revenue was $26.1 million during fourth quarter of 2012, up $7.7 million, or 41.4% from the fourth quarter of 2011, and up $5.7 million, or 27.6% from the third quarter of 2012. The increases were primarily due to sales-type lease revenue growth in the leasing and equipment finance portfolio as a result of customer-driven events. 2012 total revenue was $92.7 million, up from $89.2 million or 4.0% higher than the previous year.

The period-end 2012 leasing and equipment finance portfolio was $3.20 billion, up from $3.14 billion a year earlier. Lease and equipment finance Q4/12 yields of 5.24% compared to 5.88% in same quarter in 2011.
Inventory finance yields of 6.11% in Q4/12 compared to 7.12% one year earlier.

“TCF’s building and investing year was highlighted by several key actions, including the balance sheet repositioning, growth of our national lending businesses and a return to TCF Free Checking,” said William A. Cooper, chairman and chief executive officer. “I am pleased by the progress TCF made throughout 2012,” Cooper added.