Exhibit 99.2
Reconciliation from Non-GAAP to GAAP Measures
In addition to financial results presented in accordance with GAAP the slides contained in this filing contain certain non-GAAP measures. Specifically, we have provided financial measures which are based on core earnings rather than net income. Ratios and other financial measures with the word “core” in their title were computed using core earnings rather than net income. Core earnings excludes merger, integration and restructuring expense; extraordinary income or expense; income or expense from discontinued operations; and income, expense, gains and losses that are not reflective of ongoing operations or that we do not expect to reoccur. We believe that this information is useful to both investors and to management and can aid them in understanding the Company’s current performance, performance trends and financial condition. While core earnings can be useful in evaluating current performance and projecting current trends into the future, we do not believe that core earnings are a substitute for GAAP net income. We encourage investors and others to use core earnings as a supplemental tool for analysis and not as a substitute for GAAP net income. Our non-GAAP measures may not be comparable to the non-GAAP measures of other companies. In addition, future results of operations may include nonrecurring items that would not be included in core earnings. A reconciliation from GAAP net income to the non-GAAP measure of core earnings is shown below.
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| | | Year ended June 30, |
| | 2007 | | 2006 | | 2005 | | | 2004 | | 2003 | | 2002 | | 2001 |
GAAP Net income | | $ | 25,624 | | $ | 23,044 | | $ | 18,938 | | | $ | 14,151 | | $ | 16,692 | | $ | 16,230 | | $ | 6,314 |
Merger, integration and restructuring costs, net of tax | | | 487 | | | 1,413 | | | | | | | 1,414 | | | — | | | — | | | 2,072 |
Other-than-temporary impairment of securities, net of tax | | | — | | | — | | | 3,410 | | | | — | | | — | | | — | | | — |
Tax-free proceeds from executive life insurance policy | | | — | | | — | | | (1,005 | ) | | | — | | | — | | | — | | | — |
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Core earnings | | $ | 26,111 | | $ | 24,457 | | $ | 21,343 | | | $ | 15,565 | | $ | 16,692 | | $ | 16,230 | | $ | 8,386 |
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| | | | | | | Quarter ended |
| | | | | | 9/30/07 | | | 6/30/07 | | 3/31/07 | | 12/31/06 | | 9/30/06 |
GAAP Net income | | | | | | | | $ | 6,254 | | | $ | 5,625 | | $ | 6,467 | | $ | 6,530 | | $ | 7,002 |
Merger, integration and restructuring costs, net of tax | | | | | | | | | — | | | | 487 | | | — | | | — | | | — |
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Core earnings | | | | | | | | $ | 6,254 | | | $ | 6,112 | | $ | 6,467 | | $ | 6,530 | | $ | 7,002 |
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