Fulton Financial (FULT) 8-K Fulton Financial reports 2012 earnings

Exhibit 99.2
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
											% Change from
		December 31			December 31			September 30			December 31		September 30
		2012			2011			2012			2011		2012
ASSETS
	Cash and due from banks	$	256,300		$	292,598		$	217,207		(12.4	)%	18.0	%
	Other interest-earning assets	173,257			175,336			202,305			(1.2	)%	(14.4	)%
	Loans held for sale	64,331			47,009			85,477			36.8	%	(24.7	)%
	Investment securities	2,794,017			2,679,967			2,790,138			4.3	%	0.1	%
	Loans, net of unearned income	12,148,172			11,968,970			11,933,001			1.5	%	1.8	%
	Allowance for loan losses	(223,903		)	(256,471		)	(233,864		)	(12.7	)%	(4.3	)%
	Net Loans	11,924,269			11,712,499			11,699,137			1.8	%	1.9	%
	Premises and equipment	227,723			212,274			225,771			7.3	%	0.9	%
	Accrued interest receivable	45,786			51,098			49,784			(10.4	)%	(8.0	)%
	Goodwill and intangible assets	535,563			544,209			541,845			(1.6	)%	(1.2	)%
	Other assets	506,907			655,518			461,465			(22.7	)%	9.8	%
	Total Assets	$	16,528,153		$	16,370,508		$	16,273,129		1.0	%	1.6	%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	12,473,091		$	12,525,739		$	12,601,310		(0.4	)%	(1.0	)%
	Short-term borrowings	868,399			597,033			486,971			45.5	%	78.3	%
	Other liabilities	210,754			215,048			215,542			(2.0	)%	(2.2	)%
	FHLB advances and long-term debt	894,253			1,040,149			908,623			(14.0	)%	(1.6	)%
	Total Liabilities	14,446,497			14,377,969			14,212,446			0.5	%	1.6	%
	Shareholders' equity	2,081,656			1,992,539			2,060,683			4.5	%	1.0	%
	Total Liabilities and Shareholders' Equity	$	16,528,153		$	16,370,508		$	16,273,129		1.0	%	1.6	%
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	4,664,426		$	4,602,596		$	4,632,509		1.3	%	0.7	%
	Commercial - industrial, financial and agricultural	3,612,065			3,639,368			3,507,846			(0.8	)%	3.0	%
	Real estate - home equity	1,632,390			1,624,562			1,603,456			0.5	%	1.8	%
	Real estate - residential mortgage	1,256,991			1,097,192			1,213,831			14.6	%	3.6	%
	Real estate - construction	587,686			615,445			597,358			(4.5	)%	(1.6	)%
	Consumer	309,220			318,101			301,182			(2.8	)%	2.7	%
	Leasing and other	85,394			71,706			76,819			19.1	%	11.2	%
	Total Loans, net of unearned income	$	12,148,172		$	11,968,970		$	11,933,001		1.5	%	1.8	%
Deposits, by type:
	Noninterest-bearing demand	$	3,008,675		$	2,588,034		$	2,903,591		16.3	%	3.6	%
	Interest-bearing demand	2,755,603			2,529,388			2,702,710			8.9	%	2.0	%
	Savings deposits	3,325,475			3,394,367			3,416,011			(2.0	)%	(2.7	)%
	Time deposits	3,383,338			4,013,950			3,578,998			(15.7	)%	(5.5	)%
	Total Deposits	$	12,473,091		$	12,525,739		$	12,601,310		(0.4	)%	(1.0	)%
Short-term borrowings, by type:
	Customer repurchase agreements	$	156,238		$	186,735		$	192,082		(16.3	)%	(18.7	)%
	Customer short-term promissory notes	119,691			156,828			124,628			(23.7	)%	(4.0	)%
	Federal funds purchased	592,470			253,470			170,261			133.7	%	248.0	%
	Total Short-term Borrowings	$	868,399		$	597,033		$	486,971		45.5	%	78.3	%

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
dollars in thousands, except per-share data
		Quarter Ended									% Change from				Year ended
		Dec 31			Dec 31			Sep 30			Dec 31		Sep 30		Dec 31
		2012			2011			2012			2011		2012		2012			2011			% Change
Interest Income:
	Interest income	$	155,560		$	169,333		$	161,060		(8.1	)%	(3.4	)%	$	647,496		$	693,698		(6.7	)%
	Interest expense	23,338			30,874			25,179			(24.4	)%	(7.3	)%	103,168			133,538			(22.7	)%
	Net Interest Income	132,222			138,459			135,881			(4.5	)%	(2.7	)%	544,328			560,160			(2.8	)%
	Provision for credit losses	17,500			30,000			23,000			(41.7	)%	(23.9	)%	94,000			135,000			(30.4	)%
	Net Interest Income after Provision	114,722			108,459			112,881			5.8	%	1.6	%	450,328			425,160			5.9	%
Non-Interest Income:
	Service charges on deposit accounts	15,642			15,277			15,651			2.4	%	(0.1	)%	61,502			58,078			5.9	%
	Mortgage banking income	12,813			6,220			10,594			106.0	%	20.9	%	44,600			25,674			73.7	%
	Other service charges and fees	11,164			10,784			11,119			3.5	%	0.4	%	44,345			47,482			(6.6	)%
	Investment management and trust services	9,611			8,727			9,429			10.1	%	1.9	%	38,239			36,483			4.8	%
	Gain on sale of Global Exchange	6,215			—			—			100.0	%	100.0	%	6,215			—			100.0	%
	Investment securities gains	195			3,054			42			(93.6	)%	364.3	%	3,026			4,561			(33.7	)%
	Other	3,936			4,286			5,169			(8.2	)%	(23.9	)%	18,697			15,449			21.0	%
	Total Non-Interest Income	59,576			48,348			52,004			23.2	%	14.6	%	216,624			187,727			15.4	%
Non-Interest Expenses:
	Salaries and employee benefits	61,303			58,109			62,161			5.5	%	(1.4	)%	243,915			227,435			7.2	%
	Net occupancy expense	11,362			10,973			11,161			3.5	%	1.8	%	44,663			44,003			1.5	%
	Equipment expense	3,873			3,329			3,816			16.3	%	1.5	%	14,243			12,870			10.7	%
	Data Processing	3,713			3,482			3,776			6.6	%	(1.7	)%	14,936			13,541			10.3	%
	Other outside services	3,528			2,595			4,996			36.0	%	(29.4	)%	15,310			7,851			95.0	%
	Professional fees	3,228			2,961			2,728			9.0	%	18.3	%	11,522			12,159			(5.2	)%
	FHLB advances prepayment penalty	3,007			—			—			100.0	%	100.0	%	3,007			—			100.0	%
	FDIC insurance expense	2,944			2,730			3,029			7.8	%	(2.8	)%	11,996			14,480			(17.2	)%
	Operating risk loss	2,627			1,022			1,404			157.0	%	87.1	%	9,454			1,328			611.9	%
	Software	2,562			2,254			2,511			13.7	%	2.0	%	9,520			8,400			13.3	%
	Marketing	2,537			3,045			648			(16.7	)%	291.5	%	8,240			9,667			(14.8	)%
	OREO and repossession expense	2,349			3,565			2,096			(34.1	)%	12.1	%	10,196			8,366			21.9	%
	Other	13,576			14,795			11,717			(8.2	)%	15.9	%	52,504			56,376			(6.9	)%
	Total Non-Interest Expenses	116,609			108,860			110,043			7.1	%	6.0	%	449,506			416,476			7.9	%
	Income Before Income Taxes	57,689			47,947			54,842			20.3	%	5.2	%	217,446			196,411			10.7	%
	Income tax expense	17,449			11,868			13,260			47.0	%	31.6	%	57,601			50,838			13.3	%
	Net Income	$	40,240		$	36,079		$	41,582		11.5	%	(3.2	)%	$	159,845		$	145,573		9.8	%
PER SHARE:
	Net income:
	Basic	$	0.20		$	0.18		$	0.21		11.1	%	(4.8	)%	$	0.80		$	0.73		9.6	%
	Diluted	0.20			0.18			0.21			11.1	%	(4.8	)%	0.80			0.73			9.6	%
	Cash dividends	$	0.08		$	0.06		$	0.08		33.3	%	—	%	$	0.30		$	0.2		50.0	%
	Shareholders' equity	10.45			9.95			10.36			5.0	%	0.9	%	10.45			9.95			5.0	%
	Shareholders' equity (tangible)	7.76			7.24			7.63			7.2	%	1.7	%	7.76			7.24			7.2	%
	Weighted average shares (basic)	198,161			199,239			198,956			(0.5	)%	(0.4	)%	199,067			198,912			0.1	%
	Weighted average shares (diluted)	199,198			199,997			199,808			(0.4	)%	(0.3	)%	200,039			199,658			0.2	%
	Shares outstanding, end of period	199,225			200,164			198,975			(0.5	)%	0.1	%	199,225			200,164			(0.5	)%
SELECTED FINANCIAL RATIOS:
	Return on average assets	0.99		%	0.88		%	1.02		%					0.98		%	0.90		%
	Return on average common shareholders' equity	7.70		%	7.16		%	8.03		%					7.79		%	7.45		%
	Return on average common shareholders' equity (tangible)	10.53		%	10.02		%	11.02		%					10.73		%	10.54		%
	Net interest margin	3.65		%	3.81		%	3.74		%					3.76		%	3.90		%
	Efficiency ratio	59.17		%	57.44		%	56.91		%					57.63		%	54.28		%

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Quarter Ended
		December 31, 2012								December 31, 2011							September 30, 2012
		Average						Yield/		Average						Yield/	Average						Yield/
		Balance			Interest (1)			Rate		Balance			Interest (1)			Rate	Balance			Interest (1)			Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income	$	12,000,650		$	141,014		4.68%		$	11,926,246		$	150,195		5.00%	$	11,920,193		$	143,211		4.78%
	Taxable investment securities	2,279,551			13,406			2.35%		2,279,658			17,462			3.06%	2,392,043			16,658			2.78%
	Tax-exempt investment securities	286,400			3,857			5.39%		307,713			4,340			5.64%	286,225			3,936			5.50%
	Equity securities	117,333			984			3.35%		121,219			774			2.55%	109,884			820			2.98%
	Total Investment Securities	2,683,284			18,247			2.72%		2,708,590			22,576			3.33%	2,788,152			21,414			3.07%
	Loans held for sale	59,977			517			3.45%		54,013			541			4.01%	61,001			578			3.79%
	Other interest-earning assets	145,170			45			0.12%		192,574			133			0.27%	147,432			35			0.09%
	Total Interest-earning Assets	14,889,081			159,823			4.28%		14,881,423			173,445			4.63%	14,916,778			165,238			4.42%
Noninterest-earning assets:
	Cash and due from banks	221,309								282,993							221,946
	Premises and equipment	224,852								207,744							222,544
	Other assets	1,067,484								1,125,429							1,088,807
	Less: allowance for loan losses	(235,563		)						(275,160		)					(239,931		)
	Total Assets	$	16,167,163							$	16,222,429						$	16,210,144
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	2,684,063		$	1,055		0.16%		$	2,462,551		$	1,243		0.20%	$	2,608,202		$	1,071		0.16%
	Savings deposits	3,391,988			1,251			0.14%		3,466,104			2,356			0.27%	3,364,109			1,431			0.17%
	Time deposits	3,472,692			9,748			1.12%		4,084,278			14,739			1.43%	3,657,616			11,346			1.23%
	Total Interest-bearing Deposits	9,548,743			12,054			0.50%		10,012,933			18,338			0.73%	9,629,927			13,848			0.57%
	Short-term borrowings	488,310			156			0.13%		463,659			173			0.15%	588,568			220			0.15%
	FHLB advances and long-term debt	914,013			11,128			4.86%		1,025,683			12,363			4.80%	908,767			11,111			4.88%
	Total Interest-bearing Liabilities	10,951,066			23,338			0.85%		11,502,275			30,874			1.07%	11,127,262			25,179			0.90%
Noninterest-bearing liabilities:
	Demand deposits	2,953,861								2,529,548							2,836,166
	Other	182,890								192,806							185,441
	Total Liabilities	14,087,817								14,224,629							14,148,869
	Shareholders' equity	2,079,346								1,997,800							2,061,275
	Total Liabilities and Shareholders' Equity	$	16,167,163							$	16,222,429						$	16,210,144
	Net interest income/net interest margin (fully taxable equivalent)				136,485			3.65%					142,571			3.81%				140,059			3.74%
	Tax equivalent adjustment				(4,263		)						(4,112		)					(4,178		)
	Net interest income				$	132,222							$	138,459						$	135,881
	(1) Presented on a tax-equivalent basis using a 35% Federal tax rate and statutory interest expense disallowances.
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Quarter Ended								% Change from
		Dec 31			Dec 31			Sep 30		Dec 31			Sep 30
		2012			2011			2012		2011			2012
Loans, by type:
	Real estate - commercial mortgage	$	4,623,158		$	4,554,161		$	4,603,388	1.5		%	0.4		%
	Commercial - industrial, financial and agricultural	3,559,171			3,637,465			3,529,733		(2.2		)%	0.8		%
	Real estate - home equity	1,611,868			1,628,406			1,597,230		(1.0		)%	0.9		%
	Real estate - residential mortgage	1,223,589			1,066,463			1,200,752		14.7		%	1.9		%
	Real estate - construction	593,351			641,485			605,910		(7.5		)%	(2.1		)%
	Consumer	305,766			326,818			304,235		(6.4		)%	0.5		%
	Leasing and other	83,747			71,448			78,945		17.2		%	6.1		%
	Total Loans, net of unearned income	$	12,000,650		$	11,926,246		$	11,920,193	0.6		%	0.7		%
Deposits, by type:
	Noninterest-bearing demand	$	2,953,861		$	2,529,548		$	2,836,166	16.8		%	4.1		%
	Interest-bearing demand	2,684,063			2,462,551			2,608,202		9.0		%	2.9		%
	Savings deposits	3,391,988			3,466,104			3,364,109		(2.1		)%	0.8		%
	Time deposits	3,472,692			4,084,278			3,657,616		(15.0		)%	(5.1		)%
	Total Deposits	$	12,502,604		$	12,542,481		$	12,466,093	(0.3		)%	0.3		%
Short-term borrowings, by type:
	Customer repurchase agreements	$	189,922		$	195,372		$	210,830	(2.8		)%	(9.9		)%
	Customer short-term promissory notes	125,933			165,677			127,479		(24.0		)%	(1.2		)%
	Federal funds purchased and other	172,455			102,610			250,259		68.1		%	(31.1		)%
	Total Short-term Borrowings	$	488,310		$	463,659		$	588,568	5.3		%	(17.0		)%

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Year ended December 31
		2012								2011
		Average								Average
		Balance			Interest (1)			Yield/Rate		Balance			Interest (1)			Yield/Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income	$	11,966,347		$	575,534		4.81%		$	11,904,529		$	605,671		5.09%
	Taxable investment securities	2,401,343			67,349			2.80%		2,223,376			80,184			3.61%
	Tax-exempt investment securities	287,763			15,942			5.54%		330,087			18,521			5.61%
	Equity securities	112,448			3,291			2.93%		126,766			3,078			2.43%
	Total Investment Securities	2,801,554			86,582			3.09%		2,680,229			101,783			3.80%
	Loans held for sale	54,351			2,064			3.80%		43,470			1,958			4.50%
	Other interest-earning assets	130,946			178			0.14%		160,664			358			0.22%
	Total Interest-earning Assets	14,953,198			664,358			4.45%		14,788,892			709,770			4.80%
Noninterest-earning assets:
	Cash and due from banks	234,880								274,527
	Premises and equipment	219,236								207,081
	Other assets	1,088,151								1,108,359
	Less: allowance for loan losses	(250,160		)						(276,278		)
	Total Assets	$	16,245,305							$	16,102,581
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	2,560,831		$	4,187		0.16%		$	2,391,043		$	5,312		0.22%
	Savings deposits	3,347,606			6,002			0.18%		3,359,109			11,536			0.34%
	Time deposits	3,717,556			46,706			1.26%		4,297,106			66,235			1.54%
	Total Interest-bearing Deposits	9,625,993			56,895			0.59%		10,047,258			83,083			0.83%
	Short-term borrowings	690,883			1,068			0.15%		495,791			746			0.15%
	FHLB advances and long-term debt	933,727			45,205			4.84%		1,034,475			49,709			4.81%
	Total Interest-bearing Liabilities	11,250,603			103,168			0.92%		11,577,524			133,538			1.15%
Noninterest-bearing liabilities:
	Demand deposits	2,756,826								2,400,293
	Other	186,882								171,368
	Total Liabilities	14,194,311								14,149,185
	Shareholders' equity	2,050,994								1,953,396
	Total Liabilities and Shareholders' Equity	$	16,245,305							$	16,102,581
	Net interest income/net interest margin (fully taxable equivalent)				561,190			3.76%					576,232			3.90%
	Tax equivalent adjustment				(16,862		)						(16,072		)
	Net interest income				$	544,328							$	560,160
(1) Presented on a tax-equivalent basis using a 35% Federal tax rate and statutory interest expense disallowances.
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Year ended
		December 31
		2012			2011			% Change
Loans, by type:
	Real estate - commercial mortgage	$	4,619,587		$	4,458,205		3.6	%
	Commercial - industrial, financial and agricultural	3,551,056			3,681,321			(3.5	)%
	Real estate - home equity	1,605,088			1,627,308			(1.4	)%
	Real estate - residential mortgage	1,185,516			1,036,474			14.4	%
	Real estate - construction	620,166			700,071			(11.4	)%
	Consumer	307,154			332,613			(7.7	)%
	Leasing and other	77,780			68,537			13.5	%
	Total Loans, net of unearned income	$	11,966,347		$	11,904,529		0.5	%
Deposits, by type:
	Noninterest-bearing demand	$	2,756,826		$	2,400,293		14.9	%
	Interest-bearing demand	2,560,831			2,391,043			7.1	%
	Savings deposits	3,347,606			3,359,109			(0.3	)%
	Time deposits	3,717,556			4,297,106			(13.5	)%
	Total Deposits	$	12,382,819		$	12,447,551		(0.5	)%
Short-term borrowings, by type:
	Customer repurchase agreements	$	206,842		$	208,144		(0.6	)%
	Customer short-term promissory notes	138,632			174,624			(20.6	)%
	Federal funds purchased and other	345,409			113,023			205.6	%
	Total Short-term Borrowings	$	690,883		$	495,791		39.3	%

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Quarter Ended									Year Ended
		Dec 31			Dec 31			Sep 30			Dec 31
		2012			2011			2012			2012			2011
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period		$	235,268		$	268,817		$	237,316		$	258,177		$	275,498
	Loans charged off:
	Commercial - industrial, financial and agricultural	(12,711		)	(8,719		)	(10,471		)	(41,868		)	(52,301		)
	Real estate - commercial mortgage	(8,935		)	(3,189		)	(7,463		)	(51,988		)	(26,032		)
	Real estate - home equity	(3,464		)	(2,121		)	(1,688		)	(10,147		)	(6,397		)
	Consumer	(1,533		)	(683		)	(685		)	(3,323		)	(3,289		)
	Real estate - residential mortgage	(1,500		)	(18,316		)	(670		)	(4,509		)	(32,533		)
	Real estate - construction	(873		)	(8,716		)	(8,364		)	(26,250		)	(38,613		)
	Leasing and other	(585		)	(496		)	(625		)	(2,281		)	(2,168		)
	Total loans charged off	(29,601		)	(42,240		)	(29,966		)	(140,366		)	(161,333		)
Recoveries of loans charged off:
	Commercial - industrial, financial and agricultural	1,236			432			1,693			4,282			2,521
	Real estate - commercial mortgage	85			—			1,317			3,371			1,967
	Real estate - home equity	63			37			343			704			63
	Consumer	274			335			202			1,107			1,368
	Real estate - residential mortgage	290			55			25			459			325
	Real estate - construction	171			509			1,040			2,814			1,746
	Leasing and other	153			232			298			891			1,022
	Recoveries of loans previously charged off	2,272			1,600			4,918			13,628			9,012
Net loans charged off		(27,329		)	(40,640		)	(25,048		)	(126,738		)	(152,321		)
Provision for credit losses		17,500			30,000			23,000			94,000			135,000
Balance at end of period		$	225,439		$	258,177		$	235,268		$	225,439		$	258,177
	Net charge-offs to average loans (annualized)	0.91		%	1.36		%	0.84		%	1.06		%	1.28		%
NON-PERFORMING ASSETS:
	Non-accrual loans	$	184,832		$	257,761		$	185,791
	Loans 90 days past due and accruing	26,221			28,767			27,035
	Total non-performing loans	211,053			286,528			212,826
	Other real estate owned	26,146			30,803			29,217
	Total non-performing assets	$	237,199		$	317,331		$	242,043
NON-PERFORMING LOANS, BY TYPE:
	Commercial - industrial, financial and agricultural	$	66,954		$	80,944		$	73,879
	Real estate - commercial mortgage	57,120			113,806			64,609
	Real estate - residential mortgage	34,436			16,336			24,910
	Real estate - construction	32,005			60,744			32,742
	Real estate - home equity	15,519			11,207			12,644
	Consumer	5,000			3,384			3,942
	Leasing	19			107			100
	Total non-performing loans	$	211,053		$	286,528		$	212,826
DELINQUENCY RATES, BY TYPE:
		December 31, 2012									December 31, 2011								September 30, 2012
		31-89 Days			≥90 Days (1)			Total			31-89 Days			≥90 Days (1)			Total		31-89 Days		≥90 Days (1)		Total
	Real estate - commercial mortgage	0.46		%	1.22		%	1.68		%	0.56		%	2.47		%	3.03	%	0.46	%	1.39	%	1.85	%
	Commercial - industrial, financial and agricultural	0.46		%	1.85		%	2.31		%	0.41		%	2.23		%	2.64	%	0.45	%	2.11	%	2.56	%
	Real estate - construction	0.23		%	5.44		%	5.67		%	1.55		%	9.87		%	11.42	%	0.95	%	5.48	%	6.43	%
	Real estate - residential mortgage	2.56		%	2.74		%	5.30		%	3.38		%	1.49		%	4.87	%	2.66	%	2.05	%	4.71	%
	Real estate - home equity	0.77		%	0.96		%	1.73		%	0.72		%	0.69		%	1.41	%	0.85	%	0.78	%	1.63	%
	Consumer, leasing and other	1.72		%	1.27		%	2.99		%	1.92		%	0.90		%	2.82	%	1.85	%	1.07	%	2.92	%
	Total	0.75		%	1.74		%	2.49		%	0.89		%	2.39		%	3.28	%	0.80	%	1.78	%	2.58	%
	(1) Includes non-accrual loans
ASSET QUALITY RATIOS:
		Dec 31			Dec 31			Sep 30
		2012			2011			2012
	Non-accrual loans to total loans	1.52		%	2.15		%	1.56		%
	Non-performing assets to total loans and OREO	1.95		%	2.64		%	2.02		%
	Non-performing assets to total assets	1.44		%	1.94		%	1.49		%
	Allowance for credit losses to loans outstanding	1.86		%	2.16		%	1.97		%
	Allowance for credit losses to non-performing loans	106.82		%	90.11		%	110.54		%
	Non-performing assets to tangible common shareholders' equity and allowance for credit losses	13.39		%	18.60		%	13.80		%