TCF purchased 3,108,431, 3,670,107 and 3,243,800 shares of its common stock during the years ended December 31, 2002, 2001 and 2000, respectively. At December 31, 2002, TCF had 3.6 mil- lion shares remaining in its stock repurchase program authorized by the Board of Directors.  During the 2002 second quarter, TCF’s Board of Directors decided to eliminate the loan feature from its officers’ and directors’ deferred compensation plans and requested and received repayment in full of all outstanding loans totaling $9.8 million. The deferred compensation plans sold 166,665 shares of TCF common stock owned by plan participants to repay the outstanding loans to the plans. TCF has deferred compensation plans that allow eligible executives, senior officers and certain other employees to defer payment of up to 100% of their base salary and bonus as well as grants of restricted stock. There are no company contributions to these plans, other than payment of administrative expenses. The amounts deferred are invested in TCF stock or other publicly traded stocks, bonds or mutual TCF is subject to various regulatory capital requirements admin- istered by the federal banking agencies. Failure to meet minimum capitalrequirements can initiate certain mandatory, and possibly additional discretionary, actions by the federal banking agencies that could have a direct material effect on TCF’s financial statements. Also, in general, TCF National Bank may not declare or pay a div- idend to TCF in excess of 100% of its net profits for that year com- bined with its retained net profits for the preceding two calendar years without prior approval of the Office of the Comptroller of the Currency (“OCC”).  funds. At December 31, 2002 the assets in the plans totaled $174.3 million and included $168.1 million invested in TCF common stock. The cost of TCF common stock held by TCF’s deferred compensa- tion plans is reported separately in a manner similar to treasury stock (that is, changes in fair value are not recognized) with a corre- sponding deferred compensation obligation reflected in additional paid-in capital.  16. Regulatory Capital Requirements Shares Held in Trust for Deferred Compensation Plans The following tables set forth TCF’s and TCF National Bank’s regulatory tier 1 leverage, tier 1 risk-based and total risk-based capital levels, and applicable percentages of adjusted assets, together with the excess over minimum capital requirements: Minimum Capital  (Dollars in thousands) Actual Requirement Excess Amount Ratio Amount Ratio Amount Ratio As of December 31, 2002: Tier 1 leverage capital TCF Financial Corporation . . . . $773,594 6.42% $361,435 3.00% $412,159 3.42% TCF National Bank . . . . . . . . . . 750,935 6.24 361,017 3.00 389,918 3.24 Tier 1 risk-based capital TCF Financial Corporation . . . . 773,594 9.96 310,828 4.00 462,766 5.96 TCF National Bank . . . . . . . . . . 750,935 9.68 310,247 4.00 440,688 5.68 Total risk-based capital TCF Financial Corporation . . . . 850,694 10.95 621,657 8.00 229,037 2.95 TCF National Bank . . . . . . . . . . 828,035 10.68 620,493 8.00 207,542 2.68 As of December 31, 2001: Tier 1 leverage capital TCF Financial Corporation . . . . $ 758,728 6.62% $ 343,996 3.00% $ 414,732 3.62% TCF National Bank . . . . . . . . . . 711,586 6.26 341,147 3.00 370,439 3.26 Tier 1 risk-based capital TCF Financial Corporation . . . . 758,728 10.24 296,260 4.00 462,468 6.24 TCF National Bank . . . . . . . . . . 711,586 9.72 292,781 4.00 418,805 5.72 Total risk-based capital TCF Financial Corporation . . . . 833,821 11.26 592,520 8.00 241,301 3.26 TCF National Bank . . . . . . . . . . 786,305 10.74 585,562 8.00 200,743 2.74 At December 31, 2002, TCF and TCF National Bank exceeded their regulatory capital requirements and are considered “well- capitalized” under guidelines established by the FRB and the OCC pursuant to the Federal Deposit Insurance Corporation Improvement Act of 1991. page 64