TD Banknorth 8-K TD Banknorth Inc.’s solid fundamentals drive strong first quarter

Exhibit 99.2

TD Banknorth Inc. releases supplement financial information regarding its first quarter results

PORTLAND, Maine—(BUSINESS WIRE)—April 25, 2005 — In response to numerous requests, TD Banknorth Inc. (NYSE: BNK) is providing the attached additional information regarding its financial results for the first quarter of 2005 assuming historical cost accounting is the appropriate method for TD Banknorth to account for the acquisition of a majority interest in Banknorth Group, Inc. by TD Banknorth Financial Group. As noted in the accompanying press release of TD Banknorth for the first quarter, there is a pending issue as to whether the transaction should be accounted for under the historical cost basis or on a fair value basis using the purchase method of accounting. TD Banknorth has requested an interpretation from the SEC’s Office of Chief Accountant on an expedited basis as to whether historical accounting is appropriate. There can be no assurance that the SEC will agree with the Company’s view. If TD Banknorth is required to utilize purchase accounting for the transaction, the accompanying financial information will change.

This news release contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America. The Company’s management uses these non-GAAP measures in its analysis of the Company’s performance. These measures typically adjust GAAP performance measures to exclude the effects of charges and expenses related to the consummation of mergers and acquisitions and costs related to the integration of merged entities, as well as the amortization of intangible assets in the case of “cash basis” performance measures. These non-GAAP measures also may exclude other significant gains or losses that are unusual in nature, such as security gains and prepayment penalties. Because these items and their impact on the Company’s performance are difficult to predict, management believes that presentations of financial measures excluding the impact of these items provide useful supplemental information that is essential to a proper understanding of the operating results of the Company’s core businesses. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures which may be presented by other companies.

This news release contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Company. Forward-looking statements are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited, to, changes in general economic conditions, interest rates, deposit flows, loan demand, competition, legislation or regulation and accounting principles, policies or guidelines, as well as other economic, competitive, governmental, regulatory and accounting and technological factors affecting the Company’s operations. In addition, acquisitions may result in large one-time charges to income, may not produce revenue enhancements or cost savings at levels or within time frames originally anticipated and may result in unforeseen integration difficulties. Investors are encouraged to access the Company’s periodic reports filed with the Securities and Exchange Commission for financial and business information regarding the Company, including information which could affect the Company’s forward-looking statements. The forward-looking statements in this press release speak only as of the date of the press release, and the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those contained in the forward-looking statements.

For more information:
Jeff Nathanson
TD Banknorth Inc.
207-761-8517

TD Banknorth Inc. and Subsidiaries
CONSOLIDATED BALANCE SHEETS (Unaudited)
	March 31,		March 31,		%			December 31,		%
(In thousands)	2005		2004		Change			2004		Change
Cash and due from banks	$	540,812	$	516,772		5	%	$	541,994		0	%
Federal funds sold and other short-term investments		3,247		8,356		-61	%		2,312		40	%
Securities available for sale		4,656,578		7,235,716		-36	%		6,728,523		-31	%
Securities held to maturity		80,259		115,442		-30	%		87,013		-8	%
Loans and leases held for sale		558,137		46,970		1088	%		51,693		980	%
Loans and leases:
Residential real estate mortgages		3,424,898		2,647,540		29	%		3,081,217		11	%
Commercial real estate mortgages		6,480,825		5,549,406		17	%		6,249,513		4	%
Commercial business loans and leases		4,074,360		3,482,093		17	%		3,928,594		4	%
Consumer loans and leases		5,584,061		4,944,573		13	%		5,333,670		5	%
Total loans and leases		19,564,144		16,623,612		18	%		18,592,994		5	%
Less: Allowance for loan and lease losses		249,600		233,297		7	%		243,152		3	%
Loans and leases, net		19,314,544		16,390,315		18	%		18,349,842		5	%
Premises and equipment		308,109		260,302		18	%		300,120		3	%
Goodwill		1,503,642		1,127,799		33	%		1,365,780		10	%
Identifiable intangible assets		61,117		34,491		77	%		50,376		21	%
Bank-owned life insurance		556,265		493,729		13	%		523,129		6	%
Other assets		737,734		649,700		14	%		687,028		7	%
	$	28,320,444	$	26,879,592		5	%	$	28,687,810		-1	%
Liabilities & Shareholders’ Equity
Deposits:
Regular savings	$	2,703,160	$	2,517,632		7	%	$	2,546,018		6	%
Retail money market and NOW accounts		8,168,208		7,268,948		12	%		7,907,513		3	%
Retail certificates of deposit		4,709,291		4,592,577		3	%		4,484,370		5	%
Brokered deposits		80,951		—	NM				576	NM
Noninterest bearing deposits		4,215,574		3,578,609		18	%		4,289,104		-2	%
Total deposits		19,877,184		17,957,766		11	%		19,227,581		3	%
Borrowings from the Federal Home Loan Bank		2,332,825		1,485,014		57	%		1,997,336		17	%
Federal funds purchased and securities sold under repurchase agreements		2,241,277		3,823,452		-41	%		2,952,476		-24	%
Subordinated debt and senior notes		344,003		362,961		-5	%		346,879		-1	%
Other borrowings		26,802		60,778		-56	%		382,385		-93	%
Junior subordinated debentures		353,069		306,173		15	%		311,629		13	%
Other liabilities		209,923		231,537		-9	%		293,410		-28	%
Total liabilities		25,385,083		24,227,681		5	%		25,511,696		0	%
Shareholders’ equity		2,935,361		2,651,911		11	%		3,176,114		-8	%
	$	28,320,444	$	26,879,592		5	%	$	28,687,810		-1	%

TD Banknorth Inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)
(In thousands, except per share data)	Three Months Ended March 31,					%
	2005			2004		Change
Interest and dividend income	$	348,474		$	292,652		19	%
Interest expense		95,016			75,043		27	%
Net interest income		253,458			217,609		16	%
Provision for loan and lease losses		2,069			9,500		-78	%
Net interest income after provision for loan and lease losses		251,389			208,109		21	%
Noninterest income:
Deposit services		28,182			26,153		8	%
Insurance brokerage commissions		13,892			13,736		1	%
Merchant and electronic banking income, net		13,114			10,404		26	%
Wealth management services		10,504			9,149		15	%
Bank-owned life insurance		6,098			5,496		11	%
Investment planning services		4,689			4,839		-3	%
Net securities gains/(losses)		(50,021	)		3,581		-1497	%
Loans held for sale — Locom Adjustment		(7,500)			—	NM
Other noninterest income		14,236			14,859		-4	%
		33,194			88,217		-62	%
Noninterest expense:
Salaries and employee benefits		101,658			87,534		16	%
Occupancy and equipment		30,738			27,599		11	%
Data processing		11,033			10,436		6	%
Advertising and marketing		6,695			7,523		-11	%
Amortization of identifiable intangible assets		2,431			1,904		28	%
Merger and consolidation costs (1)		31,191			1,614		1833	%
Prepayment penalties on borrowings		6,303			—	NM
Other noninterest expense		24,786			23,109		7	%
		214,835			159,719		35	%
Income before income tax expense		69,748			136,607		-49	%
Income tax expense		27,487			46,280		-41	%
Net Income	$	42,261		$	90,327		-53	%
Weighted average shares outstanding:
Basic		183,393			162,965		13	%
Diluted		184,890			166,657		11	%
Earnings per share:
Basic	$	0.23		$	0.55		-58	%
Diluted		0.23			0.54		-57	%

(1)	Merger and consolidation costs consist of merger charges and certain asset write-downs.
	NM — calculated % change is not meaningful

TD Banknorth Inc. and Subsidiaries
SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

(In thousands, except per share data)

	Three Months Ended March 31,						%
	2005			2004			Change
Net interest income	$	253,458		$	217,609			16	%
Net income	$	42,261		$	90,327			-53	%
Shares outstanding (end of period)		173,208			163,046			6	%
Weighted average shares outstanding:
Basic		183,393			162,965			13	%
Diluted		184,890			166,657			11	%
Earnings per share:
Basic	$	0.23		$	0.55			-58	%
Diluted	$	0.23		$	0.54			-57	%
Shareholders’ equity (end of period)	$	2,935,361		$	2,651,911			11	%
Book value per share (end of period)	$	16.95		$	16.26			4	%
Tangible book value per share (end of period)	$	7.91		$	9.14			-13	%
							Nominal
RATIOS & OTHER INFORMATION:							Inc/(Dec)
Net interest margin (net interest income
as a % of average earning assets) (1)		3.95	%		3.68	%		0.27	%
Net interest spread (yield on earning assets minus
yield on interest-bearing liabilities) (1)		3.64	%		3.46	%		0.18	%
Return on average assets		0.58	%		1.37	%		-0.79	%
Return on average equity		5.18	%		14.13	%		-8.95	%
At period end:
Tier 1 leverage capital ratio		6.23	%		6.84	%		-0.61	%
Tangible equity/tangible assets		5.12	%		5.79	%		-0.67	%
Total risk based capital ratio		10.26	%		11.47	%		-1.21	%
Non-performing loans	$	84,351		$	67,854			24	%
Total nonperforming assets	$	90,363		$	70,554			28	%
Nonperforming loans as a % of total loans		0.43	%		0.41	%		0.02	%
Nonperforming assets as a % of total assets		0.32	%		0.26	%		0.06	%
Full service banking offices		396			358
FINANCIAL INFORMATION AND RATIOS EXCLUDING CERTAIN ITEMS (Non-GAAP Financial Information):
Noninterest income as a percent of total income (2)		26.36	%		28.00	%		-1.64	%
Merger and consolidation costs, net of tax (3)	$	23,375		$	1,049			2128	%
Per diluted share:	$	0.13		$	0.01			1200	%
Deleveraging losses, net of tax basis (4)	$	41,266			—		NM
Per diluted share:	$	0.22			—		NM
Noninterest expense (5)	$	177,341		$	158,105			12	%
Return on average assets (6)		1.47	%		1.39	%		0.08	%
Cash return on average tangible assets (6) (7)		1.58	%		1.47	%		0.11	%
Return on average equity (6)		13.10	%		14.29	%		-1.19	%
Cash return on average tangible equity (6) (7)		24.78	%		26.44	%		-1.66	%
Efficiency ratio (8)		51.53	%		52.31	%		-0.78	%
Cash efficiency ratio (9)		50.82	%		51.68	%		-0.86	%

(1)	Adjusted to fully-taxable equivalent basis.
(2)	Excludes securities gains/(losses) and LOCOM adjustments.
(3)	Merger and consolidation costs consist of merger charges and certain asset write-downs.
(4)	Deleveraging losses consist of losses on securities sales, LOCOM adjustments and prepayment penalties on borrowings incurred in connection with a balance sheet restructuring in the first quarter of 2005.
(5)	Excludes pre-tax merger and consolidation costs and prepayment penalties on borrowings.
(6)	Excludes merger and consolidation costs and deleveraging losses, net of related tax benefits.
(7)	Cash ratios reflect an adjustment to add back the amortization of intangible assets, net of related tax benefits.
(8)	Excludes securities gains/(losses), LOCOM adjustments, prepayment penalties on borrowings, and merger and consolidation costs.
(9)	Excludes securities gains/(losses), LOCOM adjustments, prepayment penalties on borrowings, merger and consolidation costs, and amortization of intangible assets.

Ratios are annualized where appropriate.

TD Banknorth Inc. and Subsidiaries
CONSOLIDATED AVERAGE BALANCE SHEETS (Unaudited)
	Three Months Ended March 31,
	2005						2004
	Average			Yield/			Average			Yield/
(Dollars in thousands)	Balance			Rate			Balance			Rate
Assets
Loans and leases (1)
Residential real estate mortgages	$	3,818,866			5.01	%	$	2,725,221			5.19	%
Commercial real estate mortgages		6,420,809			6.18	%		5,540,489			5.71	%
Commercial loans and leases		4,011,683			5.65	%		3,387,309			4.82	%
Consumer loans and leases		5,493,407			5.51	%		4,883,031			5.12	%
		19,744,765			5.66	%		16,536,050			5.27	%
Securities		6,313,206			4.69	%		7,339,247			4.22	%
Federal funds sold and other short-term investments		11,427			2.96	%		7,624			0.80	%
Total earning assets		26,069,398			5.42	%		23,882,921			4.94	%
Bank-owned life insurance		545,954						490,428
Noninterest-earning assets		2,782,140						2,153,678
Total assets	$	29,397,492					$	26,527,027
Liabilities & Shareholders’ Equity
Interest-bearing deposits:
Regular savings	$	2,643,205			0.29	%	$	2,468,416			0.30	%
Retail money market and NOW accounts		8,088,135			1.05	%		7,118,939			0.80	%
Retail certificates of deposit		4,683,255			2.13	%		4,660,009			1.97	%
Brokered deposits		65,860			3.90	%		—			—
Total interest-bearing deposits		15,480,455			1.26	%		14,247,364			1.10	%
Borrowed funds		6,135,179			3.09	%		6,048,457			2.41	%
Total interest-bearing liabilities		21,615,634			1.78	%		20,295,821			1.48	%
Noninterest bearing deposits		4,221,735						3,487,716
Other liabilities		251,271						171,584
Shareholders’ equity		3,308,852						2,571,906
Total liabilities and shareholders’ equity	$	29,397,492					$	26,527,027
Net earning assets	$	4,453,764					$	3,587,100
Net interest income (fully-taxable equivalent)	$	255,199					$	219,099
Less: fully-taxable equivalent adjustments		(1,741	)					(1,490	)
Net interest income	$	253,458					$	217,609
Net interest rate spread (fully-taxable equivalent)					3.64	%					3.46	%
Net interest margin (fully-taxable equivalent)					3.95	%					3.68	%

(1) Loans and leases include portfolio loans and leases, loans held for sale and nonperforming loans.

TD Banknorth Inc. and Subsidiaries
Asset Quality (unaudited)
(Dollars in thousands)
	3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
Nonperforming assets:
Residential real estate mortgages	$	8,614		$	7,846		$	7,274		$	7,870		$	7,990
Commercial real estate mortgages		30,426			29,948			33,249			27,951			24,619
Commercial business loans and leases		39,082			32,421			18,573			23,636			28,978
Consumer loans and leases		6,229			7,344			6,827			5,685			6,267
Total nonperforming loans and leases		84,351			77,559			65,923			65,142			67,854
Other nonperforming assets, net		6,012			3,544			2,056			2,025			2,700
Total nonperforming assets	$	90,363		$	81,103		$	67,979		$	67,167		$	70,554
Allowance for loan and lease losses	$	249,600		$	243,152		$	242,885	(1)	$	247,620		$	233,297
Liability for unfunded credit commitments		6,707			6,707			6,600			—			—
Total reserve for credit losses	$	256,307		$	249,859		$	249,485		$	247,620		$	233,297
Net loan charge-offs (recoveries):
Residential real estate mortgages	$	57			($9	)	$	86			($42	)		($72	)
Commercial real estate mortgages		4,032			(486	)		(530	)		(663	)		(446	)
Total real estate mortgages		4,089			(495	)		(444	)		(705	)		(518	)
Commercial business loans and leases		545			5,594			2,939			3,387			1,785
Consumer loans and leases		5,481			5,305			6,310			6,160			7,223
Total net charge-offs	$	10,115		$	10,404		$	8,805		$	8,842		$	8,490
Ratios:
Reserve for credit losses to total loans and leases		1.31	%		1.34	%		1.36	%		1.37	%		1.40	%
Reserve for credit losses to nonperforming loans		303.86	%		322.15	%		378.45	%		380.12	%		343.82	%
Nonperforming loans to total loans and leases		0.43	%		0.42	%		0.36	%		0.36	%		0.41	%
Nonperforming assets to total assets		0.32	%		0.28	%		0.23	%		0.23	%		0.26	%
Net charge-offs to average loans — QTD (2)		0.21	%		0.22	%		0.19	%		0.20	%		0.21	%

(1)	In September 2004, $6.6 million was transferred from the allowance for loan and lease losses to a liability account related to reserves for off-balance sheet loan commitments.
(2)	Annualized.

TD Banknorth Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited)

(In thousands, except per share data)	Three Months Ended
	3/31/2005			12/31/2004			9/30/2004		6/30/2004		3/31/2004
Interest and dividend income	$	348,474		$	329,846		$	325,361	$	309,146	$	292,652
Interest expense		95,016			83,783			85,701		79,096		75,043
Net interest income		253,458			246,063			239,660		230,050		217,609
Provision for loan and lease losses		2,069			10,670			10,670		9,500		9,500
Net interest income after provision for loan and lease losses		251,389			235,393			228,990		220,550		208,109
Noninterest income:
Deposit services		28,182			28,326			27,583		27,260		26,153
Insurance brokerage commissions		13,892			11,880			12,417		12,278		13,736
Merchant and electronic banking income, net		13,114			13,368			13,723		13,069		10,404
Wealth management services		10,504			10,489			10,280		9,870		9,149
Bank-owned life insurance		6,098			5,779			5,732		6,275		5,496
Investment planning services		4,689			4,799			4,634		5,146		4,839
Net securities gains/(losses)		(50,021	)		(17,761	)		3,124		3,355		3,581
Loans held for sale - Locom Adjustment		(7,500	)		—			—		—		—
Other noninterest income		14,236			13,711			14,020		12,223		14,859
		33,194			70,591			91,513		89,476		88,217
Noninterest expense:
Salaries and employee benefits		101,658			90,138			91,935		87,005		87,534
Occupancy and equipment		30,738			29,320			27,940		27,512		27,599
Data processing		11,033			11,568			11,118		10,018		10,436
Advertising and marketing		6,695			5,445			6,278		6,303		7,523
Amortization of identifiable intangible assets		2,431			2,260			2,379		2,084		1,904
Merger and consolidation costs (1)		31,191			38,286			5,603		4,135		1,614
Prepayment penalties on borrowings		6,303			61,546			—		—		—
Other noninterest expense		24,786			28,796			28,945		26,769		23,109
		214,835			267,359			174,198		163,826		159,719
Income before income tax expense		69,748			38,625			146,305		146,200		136,607
Income tax expense		27,487			17,927			48,534		50,353		46,280
Net Income	$	42,261		$	20,698		$	97,771	$	95,847	$	90,327
Weighted average shares outstanding:
Basic		183,393			177,071			173,271		169,637		162,965
Diluted		184,890			179,953			176,756		173,109		166,657
Earnings per share:
Basic	$	0.23		$	0.12		$	0.56	$	0.57	$	0.55
Diluted		0.23			0.12			0.55		0.55		0.54

(1)   Merger and consolidation costs consist of merger charges and certain asset write-downs.

TD Banknorth Inc. and Subsidiaries
SELECTED FINANCIAL HIGHLIGHTS (Unaudited)

(In thousands, except per share data)	Three Months Ended
	3/31/2005				12/31/2004			9/30/2004			6/30/2004			3/31/2004
Net interest income	$	253,458		$	246,063		$	239,660		$	230,050		$	217,609
Net income	$	42,261		$	20,698		$	97,771		$	95,847		$	90,327
Shares outstanding (end of period)		173,208			179,298			174,023			172,546			163,046
Weighted average shares outstanding:
Basic		183,393			177,071			173,271			169,637			162,965
Diluted		184,890			179,953			176,756			173,109			166,657
Earnings per share:
Basic	$	0.23		$	0.12		$	0.56		$	0.57		$	0.55
Diluted	$	0.23		$	0.12		$	0.55		$	0.55		$	0.54
Shareholders’ equity (end of period)	$	2,935,361		$	3,176,114		$	3,046,242		$	2,866,692		$	2,651,911
Book value per share (end of period)	$	16.95		$	17.71		$	17.50		$	16.61		$	16.26
Tangible book value per share (end of period)	$	7.91		$	9.82		$	9.34		$	8.39		$	9.14
RATIOS & OTHER INFORMATION:
Net interest margin (net interest income
as a % of average earning assets) (1)		3.95	%		3.87	%		3.68	%		3.66	%		3.68	%
Net interest spread (yield on earning assets minus
yield on interest-bearing liabilities) (1)		3.64	%		3.59	%		3.42	%		3.43	%		3.46	%
Return on average assets		0.58	%		0.29	%		1.33	%		1.36	%		1.37	%
Return on average equity		5.18	%		2.66	%		13.24	%		13.54	%		14.13	%
At period end:
Tier 1 leverage capital ratio		6.23	%		7.58	%		6.95	%		6.80	%		6.84	%
Tangible equity/tangible assets		5.12	%		6.45	%		5.89	%		5.20	%		5.79	%
Total risk based capital ratio		10.26	%		12.16	%		11.62	%		11.13	%		11.47	%
Nonperforming loans	$	84,351		$	77,559		$	65,923		$	65,142		$	67,854
Total nonperforming assets	$	90,363		$	81,103		$	67,979		$	67,167		$	70,554
Nonperforming loans as a % of total loans		0.43	%		0.42	%		0.36	%		0.36	%		0.41	%
Nonperforming assets as a % of total assets		0.32	%		0.28	%		0.23	%		0.23	%		0.26	%
Full service banking offices		396			386			387			389			358
FINANCIAL INFORMATION AND RATIOS EXCLUDING CERTAIN ITEMS (Non-GAAP Financial Information):
Noninterest income as a percent of total income (2)		26.36	%		26.42	%		26.94	%		27.24	%		28.00	%
Merger and consolidation costs on a net of tax basis (3)	$	23,375		$	32,316		$	4,342		$	2,687		$	1,049
Per diluted share:	$	0.13		$	0.17		$	0.03		$	0.02		$	0.01
Deleveraging, net of tax basis (4)	$	41,266		$	51,560			—			—			—
Per diluted share:	$	0.22		$	0.29			—			—			—
Noninterest expense (5)	$	177,341		$	167,528		$	168,595		$	159,691		$	158,105
Return on average assets (6)		1.47	%		1.46	%		1.39	%		1.40	%		1.39	%
Cash return on average tangible assets (6) (7)		1.58	%		1.55	%		1.49	%		1.49	%		1.47	%
Return on average equity (6)		13.10	%		13.43	%		13.82	%		13.92	%		14.29	%
Cash return on average tangible equity (6) (7)		24.78	%		25.15	%		27.20	%		26.67	%		26.44	%
Efficiency ratio (8)		51.53	%		50.10	%		51.39	%		50.51	%		52.31	%
Cash efficiency ratio (9)		50.82	%		49.42	%		50.67	%		49.85	%		51.68	%

(1)	Adjusted to fully-taxable equivalent basis.
(2)	Excludes securities gains/(losses) and LOCOM adjustments.
(3)	Merger and consolidation costs consist of merger charges and certain asset write-downs.
(4)	Deleveraging losses consist of losses on securities sales, LOCOM adjustments, and prepayment penalties on borrowings incurred in connection with balance sheet restructurings.
(5)	Excludes pre-tax merger and consolidation costs and prepayment penalties on borrowings.
(6)	Excludes merger and consolidation costs and deleveraging losses, net of related tax benefits.
(7)	Cash ratios reflect an adjustment to add back the amortization of intangible assets, net of related tax benefits.
(8)	Excludes securities gains/(losses), LOCOM adjustments, prepayment penalties on borrowings, and merger and consolidation costs.
(9)	Excludes securities gains/(losses), LOCOM adjustments, prepayment penalties on borrowings, merger and consolidation costs, and amortization of intangible assets.

Ratios are annualized where appropriate.

TD Banknorth Inc. and Subsidiaries
Reconciliation Table — Non-GAAP Financial Information (Unaudited)

(In thousands, except per share data)	Three Months Ended
	3/31/2005			12/31/2004			9/30/2004			6/30/2004			3/31/2004
Net income (GAAP)	$	42,261		$	20,698		$	97,771		$	95,847		$	90,327
Add back merger and consolidation costs and deleveraging losses, net of tax
Merger related		23,375			32,381			4,342			2,687			1,354
Branch Closings		—			—			—			—			—
Revised auto lease residual charge		—			(65	)		—			—			(305	)
Deleveraging		41,266			51,560			—			—			—
Excluding merger and consolidation costs and deleveraging losses		106,902			104,574			102,113			98,534			91,376
Add back amortization of intangibles, net of tax		1,580			1,469			1,547			1,354			1,238
Cash basis, excluding merger and consolidation costs and deleveraging losses	$	108,482		$	106,043		$	103,660		$	99,888		$	92,614
Basic earnings per share (GAAP)	$	0.23		$	0.12		$	0.56		$	0.57		$	0.55
Effects of merger and consolidation costs, net of tax		0.13			0.18			0.03			0.01			0.01
Effects of deleveraging losses, net of tax		0.22			0.29			—			—			—
Excluding merger and consolidation costs and deleveraging losses		0.58			0.59			0.59			0.58			0.56
Effects of amortization of intangibles, net of tax		0.01			0.01			0.01			0.01			0.01
Cash basis, excluding merger and consolidation costs and deleveraging losses	$	0.59		$	0.60		$	0.60		$	0.59		$	0.57
Diluted earnings per share (GAAP)	$	0.23		$	0.12		$	0.55		$	0.55		$	0.54
Effects of merger and consolidation costs, net of tax		0.13			0.17			0.03			0.02			0.01
Effects of deleveraging losses, net of tax		0.22			0.29			—			—			—
Excluding merger and consolidation costs and deleveraging losses		0.58			0.58			0.58			0.57			0.55
Effects of amortization of intangibles, net of tax		0.01			0.01			0.01			0.01			0.01
Cash basis, excluding merger and consolidation costs and deleveraging losses	$	0.59		$	0.59		$	0.59		$	0.58		$	0.56
Return on average assets (GAAP)		0.58	%		0.29	%		1.33	%		1.36	%		1.37	%
Effects of merger and consolidation costs, net of tax		0.33	%		0.45	%		0.06	%		0.04	%		0.02	%
Effects of deleveraging losses, net of tax		0.56	%		0.72	%		—			—			—
Excluding merger and consolidation costs and deleveraging losses		1.47	%		1.46	%		1.39	%		1.40	%		1.39	%
Effects of amortization of intangibles, net of tax		0.11	%		0.09	%		0.10	%		0.09	%		0.08	%
Cash basis, excluding merger and consolidation costs and deleveraging losses		1.58	%		1.55	%		1.49	%		1.49	%		1.47	%
Return on average equity (GAAP)		5.18	%		2.66	%		13.24	%		13.54	%		14.13	%
Effects of merger and consolidation costs, net of tax		2.86	%		4.15	%		0.58	%		0.38	%		0.16	%
Effects of deleveraging losses, net of tax		5.06	%		6.62	%		—			—			—
Excluding merger and consolidation costs and deleveraging losses		13.10	%		13.43	%		13.82	%		13.92	%		14.29	%
Effects of amortization of intangibles, net of tax		11.68	%		11.72	%		13.38	%		12.75	%		12.15	%
Cash basis, excluding merger and consolidation costs and deleveraging losses		24.78	%		25.15	%		27.20	%		26.67	%		26.44	%
Efficiency ratio		74.95	%		84.43	%		52.60	%		51.27	%		52.23	%
Effects of securities gains (losses) and prepayment penalties		-14.36	%		-22.89	%		0.50	%		0.54	%		0.61	%
Effects of merger and consolidation costs		-9.06	%		-11.44	%		-1.71	%		-1.30	%		-0.53	%
Excluding securities gains (losses) and merger and consolidation costs and prepayment penalties		51.53	%		50.10	%		51.39	%		50.51	%		52.31	%
Effects of amortization of intangibles		-0.71	%		-0.68	%		-0.72	%		-0.66	%		-0.63	%
Cash basis, excluding securities gains (losses), prepayment penalties and merger and consolidation costs		50.82	%		49.42	%		50.67	%		49.85	%		51.68	%
Noninterest Income	$	33,194		$	70,591		$	91,513		$	89,476		$	88,217
Net securities gains (losses)		(50,021	)		(17,761	)		3,124			3,355			3,581
Lower of cost or market adjustments on residential loans moved to held for sale		(7,500	)		—			—			—			—
Excluding securities gains (losses) & LOCOM adjustments	$	90,715		$	88,352		$	88,389		$	86,121		$	84,636
Noninterest Expense	$	214,835		$	267,359		$	174,198		$	163,826		$	159,719
Merger and consolidation costs		31,191			38,286			5,603			4,135			1,614
Prepayment penalties on borrowings		6,303			61,546			—			—			—
Excluding merger and consolidation costs and prepayment penalties	$	177,341		$	167,527		$	168,595		$	159,691		$	158,105
Amortization of identifiable intangible assets		2,431			2,260			2,379			2,084			1,904
Excluding merger and consolidation costs, prepayment penalties, and amortization of identifiable intangible assets	$	174,910		$	165,267		$	166,216		$	157,607		$	156,201