Exhibit 99.1
ITEM 6 SELECTED FINANCIAL DATA | |||||||||||||||
2005 | 2004 | 2003 | 2002 | 2001 | |||||||||||
Statements of income: | |||||||||||||||
Interest income | 320,242 | 269,767 | 271,442 | 259,019 | 266,497 | ||||||||||
Interest expense | 75,929 | 44,269 | 53,379 | 66,404 | 96,192 | ||||||||||
Net interest income | 244,313 | 225,498 | 218,063 | 192,615 | 170,305 | ||||||||||
Provision for loan losses | 5,154 | 4,377 | 7,175 | 8,331 | 8,041 | ||||||||||
Noninterest income | 69,964 | 73,405 | 97,031 | 65,060 | 63,733 | ||||||||||
Noninterest expense | 183,841 | 183,190 | 198,124 | 157,445 | 141,650 | ||||||||||
Income before income taxes | 125,282 | 111,336 | 109,795 | 91,899 | 84,347 | ||||||||||
Income tax expense | 43,243 | 38,656 | 37,542 | 30,297 | 27,847 | ||||||||||
Net income | 82,039 | 72,680 | 72,253 | 61,602 | 56,500 | ||||||||||
Total assets at year-end | 6,473,536 | 6,078,305 | 5,900,644 | 4,920,544 | 4,153,714 | ||||||||||
Common shares outstanding at year-end | 46,829,048 | 46,341,819 | 45,795,688 | 39,924,338 | 40,088,058 | ||||||||||
Balance sheets—average daily balances: | |||||||||||||||
Total assets | 6,225,167 | 5,903,245 | 5,777,538 | 4,551,879 | 3,871,017 | ||||||||||
Net loans | 4,240,206 | 3,842,719 | 3,568,323 | 2,969,430 | 2,871,899 | ||||||||||
Investment securities | 1,394,556 | 1,478,989 | 1,696,982 | 1,264,156 | 729,027 | ||||||||||
Deposits | 5,204,051 | 4,956,450 | 4,758,388 | 3,896,968 | 3,407,439 | ||||||||||
Borrowings | 317,777 | 293,583 | 413,339 | 194,118 | 52,752 | ||||||||||
Stockholders’ equity | 644,929 | 599,218 | 544,522 | 399,896 | 357,050 | ||||||||||
Per common share: | |||||||||||||||
Basic earnings | 1.76 | 1.58 | 1.61 | 1.53 | 1.41 | ||||||||||
Diluted earnings | 1.74 | 1.56 | 1.60 | 1.52 | 1.39 | ||||||||||
Cash dividends declared | 0.72 | 0.70 | 0.64 | 0.63 | 0.61 | ||||||||||
Book value | 14.34 | 13.56 | 12.81 | 10.62 | 9.35 | ||||||||||
Tangible book value | 9.35 | 8.45 | 7.59 | 9.00 | 8.52 | ||||||||||
Weighted average common shares outstanding | 46,502,983 | 46,106,057 | 44,719,710 | 40,132,330 | 40,204,668 | ||||||||||
Weighted average common and common equivalent shares outstanding | 47,051,394 | 46,731,304 | 45,150,135 | 40,619,253 | 40,683,786 | ||||||||||
Selected financial ratios: | |||||||||||||||
Return on average stockholders’ equity | 12.72 | % | 12.13 | % | 13.27 | % | 15.45 | % | 15.87 | % | |||||
Return on average tangible stockholders’ equity | 20.22 | % | 20.32 | % | 21.75 | % | 18.37 | % | 17.73 | % | |||||
Return on average total assets | 1.32 | % | 1.23 | % | 1.25 | % | 1.36 | % | 1.46 | % | |||||
Return on average tangible assets | 1.40 | % | 1.32 | % | 1.33 | % | 1.39 | % | 1.52 | % | |||||
Common stock dividend payout ratio | 40.78 | % | 43.88 | % | 39.17 | % | 41.20 | % | 43.65 | % | |||||
Net yield on earning assets | 4.31 | % | 4.21 | % | 4.12 | % | 4.53 | % | 4.74 | % | |||||
Interest rate spread | 3.99 | % | 4.02 | % | 3.90 | % | 4.16 | % | 4.08 | % | |||||
Efficiency ratio | 56.67 | % | 58.67 | % | 61.82 | % | 59.56 | % | 57.45 | % | |||||
Net charge-offs as a percent of average loans | 0.05 | % | 0.07 | % | 0.16 | % | 0.28 | % | 0.24 | % | |||||
Nonperforming assets ratio | 0.36 | % | 0.49 | % | 0.39 | % | 0.49 | % | 0.46 | % | |||||
Allowance for credit losses as a percent of year-end loans | 1.38 | % | 1.45 | % | 1.54 | % | 1.62 | % | 1.59 | % | |||||
Leverage capital ratio | 9.21 | % | 8.54 | % | 7.91 | % | 9.37 | % | 8.09 | % | |||||
Risk-based capital ratios: | |||||||||||||||
Tier 1 | 11.23 | % | 10.61 | % | 10.22 | % | 12.39 | % | 10.58 | % | |||||
Total | 12.40 | % | 11.82 | % | 11.47 | % | 13.64 | % | 11.84 | % | |||||
Average equity/Average assets | 10.36 | % | 10.15 | % | 9.42 | % | 8.79 | % | 9.22 | % | |||||
Tangible capital ratio | 7.01 | % | 6.71 | % | 6.14 | % | 7.40 | % | 8.29 | % |
Amounts Reflect the Modified Retrospective Application of SFAS 123-R