(Reuters) - The latest first quarter included a $31.2 million pretax gain on the sale of 10 outstate Michigan branches and a $8.5 million reduction of income tax expense related to a favorable settlement with the Internal Revenue Service, the company added.
However, TCF's first quarter operating results were hurt by the inverted yield curve and the slow housing markets, Chief Executive Lynn Nagorske said in a statement.
Read more at Reuters.com Market News
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