The problem of diffraction of a TE-polarized electromagnetic wave by a circular slotted cylinder is investigated. The boundary value problem in question for the Helmholtz equation is reduced to an infinite system of linear algebraic equations of the second kind (SLAE-II) using integral summation identities (ISI). A detailed study of the matrix operator of the problem is performed and its Fredholm property in the weighted Hilbert space of infinite sequences is proven. The convergence of the truncation method constructed in the paper for the numerical solution of SLAE-II is justified and the results of computations are presented and discussed, specifically considering the determination of resonance modes.