Earnings Per Common Share

6 Months Ended

Jun. 30, 2020

The computations of basic and diluted earnings per common share were as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in thousands, except per share data)	2020		2019		2020		2019
Basic earnings per common share
Net income attributable to TCF Financial Corporation	$	23,764	$	90,427	$	75,663	$	160,921
Preferred stock dividends	2,494		2,494		4,987		4,987
Net income available to common shareholders	21,270		87,933		70,676		155,934
Less: Earnings allocated to participating securities	—		17		—		30
Earnings allocated to common stock	$	21,270	$	87,916	$	70,676	$	155,904
Weighted-average common shares outstanding used in basic earnings per common share calculation	151,613,126		82,298,920		151,757,742		82,272,396
Basic earnings per common share	$	0.14	$	1.07	$	0.47	$	1.89
Diluted earnings per common share
Earnings allocated to common stock	$	21,270	$	87,916	$	70,676	$	155,904
Weighted-average common shares outstanding used in basic earnings per common share calculation	151,613,126		82,298,920		151,757,742		82,272,396
Net dilutive effect of:
Non-participating restricted stock	10,374		—		6,924		—
Stock options	36,639		—		72,560		—
Weighted-average common shares outstanding used in diluted earnings per common share calculation	151,660,139		82,298,920		151,837,226		82,272,396
Diluted earnings per common share	$	0.14	$	1.07	$	0.47	$	1.89
Anti-dilutive shares outstanding not included in the computation of diluted earnings per common share
Non-participating restricted stock	2,702,972		914,459		2,962,872		914,459
Stock options	358,522		—		259,900		—