TCF Financial Corporation reported net income for the fourth quarter of 2011 of $16.4 million, compared with $33.9 million in the fourth quarter of 2010 and $32.3 million in the third quarter of 2011.

Net income for the year ended December 31, 2011 was $109.4 million, compared with $150.9 million for 2010.
 
Average leasing and equipment finance loan and lease balances in the fourth quarter of 2011 decreased $112.1 million, or 3.6%, from the fourth quarter of 2010 and $22.9 million, or .7%, from the third quarter of 2011. The decrease from both periods was primarily due to runoff of acquired portfolios, partially offset by growth in core market segments.

Leasing and equipment finance originations of $1.5 billion during 2011 represent an increase of $224.2 million, or 17.8%, compared with 2010.

 “TCF’s 21st consecutive year of profitability was impacted in the fourth quarter by the full effect of the Durbin Amendment, start-up costs related to specialty finance and a sluggish economy,” said William A. Cooper, Chairman and Chief Executive Officer. “Despite non-performing assets declining for a fifth consecutive quarter, credit quality remains a challenge in the current environment and is delaying TCF’s return to more normal levels of provision. While the fourth quarter was not as profitable for us as other quarters during this economic cycle, we are excited about the strategic changes that have begun at TCF.”