Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2019

Computation of Basic and Diluted Earnings per Common Share

The computations of basic and diluted earnings per common share and the anti-dilutive shares outstanding not included in the computation of diluted earnings per share were as follows:



	Quarter Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except per share data)	2019		2018		2019		2018
Basic earnings per common share:
Net income attributable to TCF Financial Corporation	$	90,427	$	58,749	$	160,921	$	132,510
Preferred stock dividends	2,494		2,494		4,987		6,600
Impact of preferred stock redemption⁽¹⁾	—		—		—		3,481
Net income available to common stockholders	87,933		56,255		155,934		122,429
Less: Earnings allocated to participating securities	17		8		30		17
Earnings allocated to common stock	$	87,916	$	56,247	$	155,904	$	122,412

Weighted-average common shares outstanding used in basic earnings per common share calculation	161,973,864		165,728,591		161,919,867		167,110,343
Basic earnings per common share	$	0.54	$	0.34	$	0.96	$	0.73

Diluted earnings per common share:
Earnings allocated to common stock	$	87,916	$	56,247	$	155,904	$	122,412

Weighted-average common shares outstanding used in basic earnings per common share calculation	161,973,864		165,728,591		161,919,867		167,110,343
Net dilutive effect of:
Non-participating restricted stock	331,290		547,182		444,301		639,468
Stock options	—		—		—		4,742
Warrants	—		581,867		—		709,993
Weighted-average common shares outstanding used in diluted earnings per common share calculation	162,305,154		166,857,640		162,364,168		168,464,546
Diluted earnings per common share	$	0.54	$	0.34	$	0.96	$	0.73

Anti-dilutive shares outstanding not included in the computation of diluted earnings per common share:
Non-participating restricted stock	1,041,368		846,626		1,012,373		846,626

(1)

Represents the amount of deferred stock issuance costs originally recorded in preferred stock that were reclassified to retained earnings.

TCF FINANCIAL CORP 10-Q