Loans and leases decreased $123.1 million from year-end 2001 to $8.1 billion at December 31, 2002. Increases of $496.5 million, or 19.8%, in consumer loans, $213.3 million, or 13.1%, in com- mercial real estate loans and $82.3 million, or 8.6%, in leasing and equipment finance were more than offset by a $932.9 million reduc- tion in residential real estate loans. The decline in the residential real estate loan portfolio during 2002 was due to accelerating pre- payments brought on by the continued decline, throughout 2002, in interest rates and was partially offset by the increase in mortgage- backed securities. At December 31, 2002, TCF’s residential real estate loan portfolio was comprised of $1.2 billion of fixed-rate loans and $610.3 million of adjustable-rate loans. Consumer loans increased $496.5 million from year-end 2001 to $3 billion at December 31, 2002, driven by an increase of $511.9 million in home equity loans. Approximately 69% of the home equity loan portfolio at December 31, 2002 consisted of closed-end loans, compared with 70% at December 31, 2001. In addition, 62% of this portfolio at December 31, 2002, carries a variable interest rate, compared with 51% at December 31, 2001. As of December 31, 2002, $1 billion of the variable rate consumer loans were at their inter- est rate floors. These loans will remain at their interest rate floor until interest rates rise above the floor rate. An increase in the TCF base rate of 100 basis points would result in the repricing of $521.9 million of variable rate consumer loans currently at their floor. A 200 basis point increase in the TCF base rate would result in a total of $833.2 million of these loans repricing at interest rates above their current floor rate. At December 31, 2002, the weighted average loan-to-value ratio for the home equity portfolio was 72%, unchanged from December 31, 2001. Many of these loans are secured by a first lien on the home and include an advance to pay off an existing first lien mortgage loan. These loans may carry a higher level of credit risk than loans with lower loan-to-value ratios. Higher loan-to-value ratio loans are made to more creditworthy customers based on credit scoring models. The following table sets forth additional information about the loan-to-value ratios for TCF’s home equity loan portfolio: $^{(1)}$Loan-to-value is based on the loan amount (current outstanding balance on closed-end loans and the total commitment on lines of credit) plus deferred loan origination costs net of fees and refundable insurance premiums, if any, plus the amount of senior liens, if any. Property values represent the most recent market value or property tax assessment value known to TCF. $^{(2)}$Amount reflects the total outstanding loan balance. The portion of the loan balance in excess of 100% of the property value is substantially less than the amount included above. The following table summarizes TCF’s commercial real estate loan portfolio by property type: page 32 At December 31, (Dollars in thousands) 2002 2001 Over 30-Day Over 30-Day Delinquency as Delinquency as Percentage a Percentage Percentage a Percentage Loan-to-Value Ratios (1) Balance of Total of Balance Balance of Total of Balance Over 100% (2)  . . . . . . . . . . . . . . . . . $ 53,916 1.8% 2.17% $ 66,578 2.7% 1.62% Over 90% to 100% . . . . . . . . . . . . . 384,988 13.0 .80 396,333 16.2 .69 Over 80% to 90% . . . . . . . . . . . . . . 1,028,207 34.8 .62 802,094 32.8 .64 80% or less . . . . . . . . . . . . . . . . . . . 1,488,533 50.4 .52 1,178,783 48.3 .69 Total . . . . . . . . . . . . . . . . . . . . . $2,955,644 100.0% .62 $2,443,788 100.0% .70 At December 31, 2002 2001 Over 30-Day Over 30-Day Delinquency Delinquency Rate as a Rate as a Number Percentage Number Percentage  (Dollars in thousands) Balance of Loans of Balance Balance of Loans of Balance Apartments . . . . . . . . . . . . . . . . . . $ 484,755 562 .07% $ 431,679 586 .03% Office buildings . . . . . . . . . . . . . . . 368,402 289 .44 364,357 283 .08 Retail services . . . . . . . . . . . . . . . . . 284,701 264 .02 217,408 243 – Warehouse/industrial buildings . . . . 185,529 173 2.61 159,090 165 – Hotels and motels . . . . . . . . . . . . . . 149,023 32 – 144,424 34 – Health care facilities . . . . . . . . . . . . 45,125 17 – 24,698 15 – Other . . . . . . . . . . . . . . . . . . . . . . . 318,253 392 – 280,805 448 .04 Total . . . . . . . . . . . . . . . . . . . . . $1,835,788 1,729 .37 $1,622,461 1,774 .03