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Commercial real estate loans increased $213.3 million from year- end 2001 to $1.8 billion at December 31, 2002. Commercial busi- ness loans increased $17.7 million in 2002 to $440.1 million at December 31, 2002. TCF continues to expand its commercial busi- ness and commercial real estate lending activity to borrowers located in its primary midwestern markets. With a focus on secured lending, at December 31, 2002, approximately 98% of TCF’s commercial real estate and commercial business loans were secured either by 

properties or underlying business assets. At December 31, 2002 and December 31, 2001, the construction and development portfolio included hotel and motel loans of $41.1 million and $31.5 million, respectively, and apartment loans of $5.1 million and $2.5 million, respectively. At December 31, 2002, approximately 88% of TCF’s commercial real estate loans outstanding were secured by properties located in its primary markets. 

The following tables summarize TCF’s leasing and equipment finance portfolio by marketing segment and by equipment type: 

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(1) Middle market consists primarily of lease financings on manufacturing and construction equipment, as well as specialty vehicles, to companies nationwide. 

(2) Winthrop’s portfolio consists primarily of technology and data processing equipment. 

(3) Wholesale includes the discounting, purchase and originating of lease receivables sourced by third party lessors. 

(4) Small ticket includes lease financings to small- and mid-size companies through programs with vendors, manufacturers, distributors and franchise organizations. Individual contracts generally range from $25,000 to $250,000. 

(5) TCF discontinued originations in the truck and trailer marketing segment during 2001. TCF will continue to provide financing on trucks and trailers to customers in the middle market segment for use in their businesses which are unrelated to the over-the-road trucking industry. See the portfolio summary by equipment type below for TCF’s total financing of trucks and trailers. 

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