TCF Financial Corp. or TCF (TCB) reported lower net income attributable to the company of $24.0 million for the fourth quarter of 2014, compared with $40.0 million for the fourth quarter of 2013. Earnings per share were 12 cents, compared with 22 cents a year ago. On average, 18 analysts polled by Thomson Reuters expected earnings of 29 cents per share for the quarter. Analysts' estimates typically exclude special items.
Quarterly total revenue advanced 2.1% to $313.8 million from $307.2 million in the prior-year quarter.
Net interest income for the quarter improved 1.1 percent to $204.07 million from $201.86 million in the fourth quarter of 2013, driven by higher average loan and lease balances in the auto finance, leasing and equipment finance and inventory finance businesses, partially offset by lower average consumer real estate loan balances due to run-off, as well as continued margin reduction.
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