2002 Annual Report _  Investing in the Future DEAR SHAREHOLDERS, TCF had another outstanding year. We earned a record $232.9 million in 2002, our 12th consecutive year of record results. Our diluted earn- ings per share increased 17 percent to $3.15. Return on average assets (ROA) was 2.01 percent, and our return on average realized common equity (ROE) was 25.82 percent. These impressive numbers rank us in the top 10 percent of the 50 largest banks in the country. Our stock closed at $43.69 per share at December 31, 2002, down from $47.98 per share at year-end 2001. Our annualized total return to investors over the past ten years was almost 23 percent. We are proud that TCF now ranks second in ten-year compounded dividend growth rate among the top 50 banks in the country. Our dividend increased from $1.00 per share in 2001 to $1.15 in 2002. Our dividend in 2003 will be $1.30.  TCF’s 2002 financial results were highlighted by solid top-line rev- enue growth, good credit quality, increased POWER ASSETS ® (consumer, commercial and leasing credits), increased POWER LIABILITIES ® (core deposits) and moderate non-interest expense growth. At TCF, we put the customer first; we believe in convenient banking for our customers, de novo expansion, new product development, and maintaining focus on core banking activities. This is a proven strategy that has produced strong and consistently improving results for us in the past and we believe will continue to work well for us in the future. Top-Line Revenue Top-line revenue is an important number for us. Top- line revenue, which consists of net interest income and fee income, was up $56 million for 2002, an increase of seven percent. TCF is one of the “Our basic philosophy of banking has not changed. We must continue planting seeds for the future by finding and nurturing good management and staff, and grow by taking reasonable and measured risks in the process.” William A. Cooper,  Chairman of the Board and CEO page 2