Exhibit: 99.2
| | | | |
| | Old National Bancorp | | |
Financial Trends
Third Quarter 2007
October 29, 2007
Please direct inquiries to:
Christopher A. Wolking, Senior Executive Vice President & Chief Financial Officer (812) 464-1322 or Joan M. Kissel, Vice President & Corporate Controller (812) 465-7290
Notes: -All share and per share data have been adjusted for stock dividends.
-Summations may not equal due to rounding.
-In connection with certain derivative transactions related to interest rate swap agreements, the Company restated the years ended December 31, 2003 and 2004. For additional information regarding this restatement, see Form 8-K filed on January 31, 2006.
Old National Bancorp
Financial Summary
Third Quarter 2007
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| | | | | | | | | | | | | | | | | | 2006 | | | 2007 | |
2003 | | | 2004 | | | 2005 | | | 2006 | | | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | |
| | | | | | | | | | | | | | | | Profitability (in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 65.5 | | | $ | 63.1 | | | $ | 63.8 | | | $ | 79.4 | | | NET INCOME | | $ | 20.7 | | | $ | 20.2 | | | $ | 21.0 | | | $ | 17.5 | | | $ | 10.8 | | | $ | 19.6 | | | $ | 22.6 | | | | | |
| 2.5 | | | | 2.8 | | | | (14.8 | ) | | | — | | | INCOME from Discontinued Operations (net of tax) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | |
| 63.1 | | | | 60.3 | | | | 78.6 | | | | 79.4 | | | INCOME from Continuing Operations (net of tax) | | | 20.7 | | | | 20.2 | | | | 21.0 | | | | 17.5 | | | | 10.8 | | | | 19.6 | | | | 22.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Diluted EPS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 0.93 | | | $ | 0.90 | | | $ | 0.93 | | | $ | 1.20 | | | Net Income | | $ | 0.31 | | | $ | 0.30 | | | $ | 0.32 | | | $ | 0.27 | | | $ | 0.16 | | | $ | 0.30 | | | $ | 0.34 | | | | | |
| 0.03 | | | | 0.04 | | | | (0.22 | ) | | | — | | | Income from Discontinued Operations | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | |
| 0.90 | | | | 0.86 | | | | 1.15 | | | | 1.20 | | | Income from Continuing Operations | | | 0.31 | | | | 0.30 | | | | 0.32 | | | | 0.27 | | | | 0.16 | | | | 0.30 | | | | 0.34 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Ratios — Net Income | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8.72 | % | | | 8.83 | % | | | 9.31 | % | | | 12.43 | % | | Return on Average Common Equity | | | 12.68 | % | | | 12.82 | % | | | 13.40 | % | | | 10.87 | % | | | 6.74 | % | | | 12.30 | % | | | 14.22 | % | | | | |
| 0.69 | % | | | 0.69 | % | | | 0.74 | % | | | 0.97 | % | | Return on Average Assets | | | 1.00 | % | | | 0.97 | % | | | 1.04 | % | | | 0.87 | % | | | 0.52 | % | | | 0.96 | % | | | 1.15 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Ratios — Income from Continuing Operations | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8.40 | % | | | 8.44 | % | | | 11.47 | % | | | 12.43 | % | | Return on Average Common Equity | | | 12.68 | % | | | 12.82 | % | | | 13.40 | % | | | 10.87 | % | | | 6.74 | % | | | 12.30 | % | | | 14.22 | % | | | | |
| 0.66 | % | | | 0.66 | % | | | 0.91 | % | | | 0.97 | % | | Return on Average Assets | | | 1.00 | % | | | 0.97 | % | | | 1.04 | % | | | 0.87 | % | | | 0.52 | % | | | 0.96 | % | | | 1.15 | % | | | | |
| 60.84 | % | | | 73.92 | % | | | 65.43 | % | | | 68.54 | % | | Efficiency Ratio | | | 66.91 | % | | | 66.05 | % | | | 67.13 | % | | | 74.31 | % | | | 80.44 | % | | | 70.31 | % | | | 67.46 | % | | | | |
| 3.18 | % | | | 3.08 | % | | | 3.09 | % | | | 3.15 | % | | Net Interest Margin (FTE) | | | 3.18 | % | | | 3.18 | % | | | 3.15 | % | | | 3.09 | % | | | 3.00 | % | | | 3.20 | % | | | 3.37 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Capital Ratios: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Risk-Based Capital Ratios (EOP): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 11.1 | % | | | 11.2 | % | | | 10.6 | % | | | 11.1 | % | | Tier 1 | | | 10.7 | % | | | 10.4 | % | | | 11.0 | % | | | 11.1 | % | | | 9.8 | % | | | 10.1 | % | | | 10.5 | % | | | | |
| 14.7 | % | | | 14.9 | % | | | 14.4 | % | | | 14.5 | % | | Total | | | 14.5 | % | | | 14.1 | % | | | 14.9 | % | | | 14.5 | % | | | 13.1 | % | | | 13.4 | % | | | 13.9 | % | | | | |
| 7.4 | % | | | 7.7 | % | | | 7.7 | % | | | 8.0 | % | | Leverage Ratio (to Average Assets) | | | 7.8 | % | | | 7.6 | % | | | 7.9 | % | | | 8.0 | % | | | 7.1 | % | | | 7.3 | % | | | 7.7 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 7.86 | % | | | 7.83 | % | | | 7.94 | % | | | 7.81 | % | | Total Equity to Assets (Averages) | | | 7.86 | % | | | 7.59 | % | | | 7.78 | % | | | 8.01 | % | | | 7.77 | % | | | 7.83 | % | | | 8.08 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Per Common Share Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 0.69 | | | | 0.72 | | | | 0.76 | | | | 0.84 | | | Cash Dividends Declared | | | 0.21 | | | | 0.21 | | | | 0.21 | | | | 0.21 | | | | 0.22 | | | | 0.22 | | | | 0.22 | | | | | |
| 74 | % | | | 80 | % | | | 81 | % | | | 70 | % | | Dividend Payout Ratio | | | 68 | % | | | 69 | % | | | 66 | % | | | 79 | % | | | 134 | % | | | 74 | % | | | 64 | % | | | | |
| 10.31 | | | | 10.16 | | | | 9.61 | | | | 9.66 | | | Book Value (EOP) | | | 9.53 | | | | 9.24 | | | | 9.68 | | | | 9.66 | | | | 9.65 | | | | 9.45 | | | | 9.78 | | | | | |
| 20.72 | | | | 24.63 | | | | 21.64 | | | | 18.92 | | | Market Value (EOP) | | | 21.64 | | | | 19.97 | | | | 19.10 | | | | 18.92 | | | | 18.18 | | | | 16.61 | | | | 16.57 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Other Statistics | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2,842 | | | | 2,565 | | | | 2,572 | | | | 2,568 | | | Full Time Equivalent Employees (1) | | | 2,542 | | | | 2,527 | | | | 2,518 | | | | 2,568 | | | | 2,572 | | | | 2,535 | | | | 2,481 | | | | | |
FTE — Fully taxable equivalent basis
EOP — End of period actual balances
(1) Based on the number of employees associated with continuing operations.
PAGE 1
Old National Bancorp
INCOME STATEMENT
($ In Millions except EPS information)
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Nine Months | | | Change | | | | | Third Quarter | | | Change | |
2007 | | | 2006 | | | $ | | | % | | | | | 2007 | | | 2006 | | | $ | | | % | |
$ | 363.0 | | | $ | 352.5 | | | $ | 10.5 | | | | 3.0 | % | | Interest Income (FTE) | | $ | 120.3 | | | $ | 118.8 | | | $ | 1.5 | | | | 1.2 | % |
| 188.8 | | | | 176.3 | | | | 12.6 | | | | 7.1 | % | | Less: Interest Expense | | | 60.7 | | | | 61.7 | | | | (1.0 | ) | | | -1.6 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| 174.1 | | | | 176.2 | | | | (2.1 | ) | | | -1.2 | % | | Net Interest Income (FTE) | | | 59.5 | | | | 57.1 | | | | 2.4 | | | | 4.3 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 14.3 | | | | 14.9 | | | | (0.6 | ) | | | -4.0 | % | | Wealth Management Fees | | | 4.6 | | | | 4.7 | | | | (0.2 | ) | | | -3.3 | % |
| 33.0 | | | | 31.2 | | | | 1.8 | | | | 5.7 | % | | Service Charges on Deposit Accounts | | | 11.5 | | | | 10.6 | | | | 0.9 | | | | 8.5 | % |
| 29.7 | | | | 29.2 | | | | 0.5 | | | | 1.6 | % | | Insurance Premiums and Commissions | | | 8.9 | | | | 8.8 | | | | 0.1 | | | | 1.4 | % |
| 8.3 | | | | 6.3 | | | | 2.0 | | | | 31.0 | % | | Investment Product Fees | | | 2.7 | | | | 2.0 | | | | 0.6 | | | | 31.0 | % |
| 3.3 | | | | 2.8 | | | | 0.5 | | | | 16.4 | % | | Mortgage Banking Revenue | | | 1.2 | | | | 1.0 | | | | 0.2 | | | | 15.7 | % |
| 25.8 | | | | 29.2 | | | | (3.4 | ) | | | -11.7 | % | | Other Income | | | 9.1 | | | | 8.7 | | | | 0.4 | | | | 4.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| 114.3 | | | | 113.6 | | | | 0.7 | | | | 0.6 | % | | Total Fees, Service Charges & Other Rev. | | | 37.9 | | | | 35.8 | | | | 2.0 | | | | 5.7 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (3.2 | ) | | | 0.7 | | | | (3.9 | ) | | | N/M | | | Gains (Losses) Sales of Securities | | | (0.5 | ) | | | 0.8 | | | | (1.3 | ) | | | -159.8 | % |
| (0.0 | ) | | | 2.0 | | | | (2.0 | ) | | | -101.1 | % | | Gains (Losses) Derivatives | | | 0.2 | | | | (0.1 | ) | | | 0.2 | | | | N/M | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 111.1 | | | | 116.2 | | | | (5.2 | ) | | | -4.4 | % | | Total Noninterest Income | | | 37.6 | | | | 36.6 | | | | 1.0 | | | | 2.8 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 285.2 | | | | 292.4 | | | | (7.2 | ) | | | -2.5 | % | | Total Revenues (FTE) | | | 97.1 | | | | 93.7 | | | | 3.4 | | | | 3.7 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 122.5 | | | | 115.8 | | | | 6.7 | | | | 5.8 | % | | Salaries and Employee Benefits | | | 39.6 | | | | 36.8 | | | | 2.8 | | | | 7.7 | % |
| 17.8 | | | | 15.2 | | | | 2.6 | | | | 17.2 | % | | Occupancy | | | 5.9 | | | | 5.1 | | | | 0.8 | | | | 16.6 | % |
| 8.6 | | | | 9.7 | | | | (1.1 | ) | | | -11.3 | % | | Equipment | | | 2.7 | | | | 3.1 | | | | (0.4 | ) | | | -12.1 | % |
| 14.5 | | | | 13.5 | | | | 1.0 | | | | 7.5 | % | | Data Processing | | | 4.7 | | | | 4.4 | | | | 0.3 | | | | 5.7 | % |
| 13.4 | | | | 14.4 | | | | (1.1 | ) | | | -7.4 | % | | Marketing & Communication | | | 4.1 | | | | 4.9 | | | | (0.8 | ) | | | -16.7 | % |
| 5.5 | | | | 5.7 | | | | (0.1 | ) | | | -2.3 | % | | Professional Fees | | | 1.7 | | | | 1.8 | | | | (0.1 | ) | | | -5.7 | % |
| 24.6 | | | | 20.8 | | | | 3.9 | | | | 18.6 | % | | Other Expense | | | 6.8 | | | | 6.8 | | | | (0.0 | ) | | | -0.4 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| 207.0 | | | | 195.0 | | | | 11.9 | | | | 6.1 | % | | Total Noninterest Expense | | | 65.5 | | | | 62.9 | | | | 2.6 | | | | 4.2 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2.4 | | | | 7.0 | | | | (4.6 | ) | | | -65.1 | % | | Provision for loan losses | | | — | | | | — | | | | — | | | | N/M | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 75.8 | | | | 90.4 | | | | (14.6 | ) | | | -16.1 | % | | Income before Income Taxes and Discontinued Operations (FTE) | | | 31.6 | | | | 30.8 | | | | 0.8 | | | | 2.6 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 10.1 | | | | 13.4 | | | | (3.2 | ) | | | -24.3 | % | | Income Taxes on Continuing Ops. | | | 4.7 | | | | 5.0 | | | | (0.3 | ) | | | -5.1 | % |
| 12.8 | | | | 15.2 | | | | (2.4 | ) | | | -15.7 | % | | FTE Adjustment | | | 4.3 | | | | 4.8 | | | | (0.5 | ) | | | -10.1 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| 22.9 | | | | 28.5 | | | | (5.6 | ) | | | -19.7 | % | | Total Taxes (FTE) | | | 9.0 | | | | 9.8 | | | | (0.7 | ) | | | -7.6 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
$ | 52.9 | | | $ | 61.9 | | | $ | (9.0 | ) | | | -14.5 | % | | Net Income | | $ | 22.6 | | | $ | 21.0 | | | $ | 1.6 | | | | 7.4 | % |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | EPS | | | | | | | | | | | | | | | | |
$ | 0.80 | | | $ | 0.93 | | | $ | (0.13 | ) | | | -14.0 | % | | Diluted Net Income | | $ | 0.34 | | | $ | 0.32 | | | $ | 0.02 | | | | 6.3 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Average Common Shares Outstanding (000’s) | | | | | | | | | | | | | | | | |
| 65,709 | | | | 66,370 | | | | (661 | ) | | | -1.0 | % | | Basic | | | 65,601 | | | | 65,823 | | | | (222 | ) | | | -0.3 | % |
| 65,766 | | | | 66,395 | | | | (628 | ) | | | -0.9 | % | | Diluted | | | 65,658 | | | | 65,853 | | | | (195 | ) | | | -0.3 | % |
| 66,200 | | | | 66,406 | | | | (206 | ) | | | -0.3 | % | | Common Shares Outstanding (EOP) (000’s) | | | 66,200 | | | | 66,406 | | | | (206 | ) | | | -0.3 | % |
FTE — Fully taxable equivalent basis
EOP — End of period actual balances
N/M = Not meaningful
PAGE 2
Old National Bancorp
NET INCOME TRENDS
Third Quarter 2007
($ In Millions except EPS information)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 2006 | | | 2007 | |
2003 | | | 2004 | | | 2005 | | | 2006 | | | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | |
$ | 494.8 | | | $ | 441.0 | | | $ | 446.8 | | | $ | 471.2 | | | Interest Income (FTE) | | $ | 114.7 | | | $ | 118.9 | | | $ | 118.8 | | | $ | 118.8 | | | $ | 120.5 | | | $ | 122.2 | | | $ | 120.3 | | | | | |
| 214.4 | | | | 185.4 | | | | 206.1 | | | | 239.0 | | | Less: Interest Expense | | | 55.3 | | | | 59.3 | | | | 61.7 | | | | 62.7 | | | | 64.5 | | | | 63.6 | | | | 60.7 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 280.4 | | | | 255.7 | | | | 240.7 | | | | 232.2 | | | Net Interest Income (FTE) | | | 59.5 | | | | 59.6 | | | | 57.1 | | | | 56.0 | | | | 56.0 | | | | 58.6 | | | | 59.5 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 20.4 | | | | 20.4 | | | | 20.3 | | | | 19.5 | | | Wealth Management Fees | | | 5.2 | | | | 5.0 | | | | 4.7 | | | | 4.7 | | | | 4.9 | | | | 4.8 | | | | 4.6 | | | | | |
| 44.9 | | | | 48.5 | | | | 47.2 | | | | 42.3 | | | Service Charges on Deposit Accounts | | | 9.9 | | | | 10.7 | | | | 10.6 | | | | 11.1 | | | | 10.2 | | | | 11.2 | | | | 11.5 | | | | | |
| 22.4 | | | | 32.8 | | | | 35.2 | | | | 41.5 | | | Insurance Premiums and Commissions | | | 11.0 | | | | 9.5 | | | | 8.8 | | | | 12.3 | | | | 10.6 | | | | 10.2 | | | | 8.9 | | | | | |
| 10.6 | | | | 12.0 | | | | 9.0 | | | | 8.7 | | | Investment Product Fees | | | 2.3 | | | | 2.0 | | | | 2.0 | | | | 2.4 | | | | 2.9 | | | | 2.8 | | | | 2.7 | | | | | |
| 19.1 | | | | 8.5 | | | | 4.9 | | | | 4.1 | | | Mortgage Banking Revenue | | | 1.2 | | | | 0.6 | | | | 1.0 | | | | 1.3 | | | | 1.0 | | | | 1.1 | | | | 1.2 | | | | | |
| 23.1 | | | | 27.0 | | | | 45.9 | | | | 34.8 | | | Other Income | | | 11.9 | | | | 8.6 | | | | 8.7 | | | | 5.6 | | | | 7.8 | | | | 8.9 | | | | 9.1 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 140.5 | | | | 149.2 | | | | 162.4 | | | | 150.9 | | | Total Fees, Service Charges & Other Rev. | | | 41.4 | | | | 36.3 | | | | 35.8 | | | | 37.3 | | | | 37.4 | | | | 39.0 | | | | 37.9 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 23.6 | | | | 2.9 | | | | 0.9 | | | | 1.5 | | | Gains (Losses) Sales of Securities | | | (0.1 | ) | | | 0.1 | | | | 0.8 | | | | 0.8 | | | | (2.7 | ) | | | (0.0 | ) | | | (0.5 | ) | | | | |
| 8.9 | | | | 10.8 | | | | (3.4 | ) | | | 1.5 | | | Gains (Losses) Derivatives | | | 1.6 | | | | 0.4 | | | | (0.1 | ) | | | (0.4 | ) | | | 0.0 | | | | (0.2 | ) | | | 0.2 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 172.9 | | | | 162.9 | | | | 159.9 | | | | 153.9 | | | Total Noninterest Income | | | 42.9 | | | | 36.8 | | | | 36.6 | | | | 37.7 | | | | 34.8 | | | | 38.7 | | | | 37.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 453.4 | | | | 418.5 | | | | 400.6 | | | | 386.2 | | | Total Revenues (FTE) | | | 102.4 | | | | 96.4 | | | | 93.7 | | | | 93.7 | | | | 90.8 | | | | 97.3 | | | | 97.1 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 151.4 | | | | 171.9 | | | | 147.8 | | | | 157.6 | | | Salaries and Employee Benefits | | | 41.3 | | | | 37.7 | | | | 36.8 | | | | 41.8 | | | | 41.3 | | | | 41.5 | | | | 39.6 | | | | | |
| 17.0 | | | | 19.3 | | | | 20.4 | | | | 19.9 | | | Occupancy | | | 5.2 | | | | 4.9 | | | | 5.1 | | | | 4.8 | | | | 6.4 | | | | 5.5 | | | | 5.9 | | | | | |
| 13.8 | | | | 14.2 | | | | 14.4 | | | | 12.7 | | | Equipment | | | 3.4 | | | | 3.2 | | | | 3.1 | | | | 3.1 | | | | 3.1 | | | | 2.8 | | | | 2.7 | | | | | |
| 18.9 | | | | 21.6 | | | | 21.2 | | | | 18.0 | | | Data Processing | | | 4.6 | | | | 4.5 | | | | 4.4 | | | | 4.4 | | | | 5.1 | | | | 4.8 | | | | 4.7 | | | | | |
| 22.0 | | | | 20.5 | | | | 18.2 | | | | 19.6 | | | Marketing & Communication | | | 4.6 | | | | 4.9 | | | | 4.9 | | | | 5.1 | | | | 4.7 | | | | 4.6 | | | | 4.1 | | | | | |
| 8.8 | | | | 25.9 | | | | 9.3 | | | | 7.6 | | | Professional Fees | | | 2.0 | | | | 1.9 | | | | 1.8 | | | | 1.9 | | | | 2.0 | | | | 1.9 | | | | 1.7 | | | | | |
| 44.0 | | | | 36.0 | | | | 30.9 | | | | 29.3 | | | Other Expense | | | 7.4 | | | | 6.5 | | | | 6.8 | | | | 8.5 | | | | 10.5 | | | | 7.3 | | | | 6.8 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 275.8 | | | | 309.4 | | | | 262.1 | | | | 264.7 | | | Total Noninterest Expense | | | 68.5 | | | | 63.7 | | | | 62.9 | | | | 69.6 | | | | 73.0 | | | | 68.4 | | | | 65.5 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 85.0 | | | | 22.4 | | | | 23.1 | | | | 7.0 | | | Provision for Loan Losses | | | 3.5 | | | | 3.5 | | | | — | | | | — | | | | 2.4 | | | | — | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 92.6 | | | | 86.7 | | | | 115.4 | | | | 114.5 | | | Income before Income Taxes and Discontinued Operations (FTE) | | | 30.4 | | | | 29.2 | | | | 30.8 | | | | 24.1 | | | | 15.3 | | | | 28.9 | | | | 31.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 4.4 | | | | 2.5 | | | | 15.3 | | | | 15.6 | | | Income Taxes on Continuing Ops. | | | 4.6 | | | | 3.8 | | | | 5.0 | | | | 2.2 | | | | 0.3 | | | | 5.1 | | | | 4.7 | | | | | |
| 25.1 | | | | 23.9 | | | | 21.5 | | | | 19.5 | | | FTE Adjustment | | | 5.1 | | | | 5.2 | | | | 4.8 | | | | 4.4 | | | | 4.2 | | | | 4.3 | | | | 4.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 29.5 | | | | 26.4 | | | | 36.8 | | | | 35.1 | | | Total Taxes (FTE) | | | 9.7 | | | | 9.1 | | | | 9.8 | | | | 6.6 | | | | 4.5 | | | | 9.3 | | | | 9.0 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 63.1 | | | | 60.3 | | | | 78.6 | | | | 79.4 | | | Income from Continuing Ops., (net of tax) | | | 20.7 | | | | 20.2 | | | | 21.0 | | | | 17.5 | | | | 10.8 | | | | 19.6 | | | | 22.6 | | | | | |
| 2.5 | | | | 2.8 | | | | (14.8 | ) | | | — | | | Income from Discontinued Ops., (net of tax) | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 65.5 | | | $ | 63.1 | | | $ | 63.8 | | | $ | 79.4 | | | Net Income | | $ | 20.7 | | | $ | 20.2 | | | $ | 21.0 | | | $ | 17.5 | | | $ | 10.8 | | | $ | 19.6 | | | $ | 22.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Diluted EPS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 0.90 | | | $ | 0.86 | | | $ | 1.15 | | | $ | 1.20 | | | Income from Continuing Operations | | $ | 0.31 | | | $ | 0.30 | | | $ | 0.32 | | | $ | 0.27 | | | $ | 0.16 | | | $ | 0.30 | | | $ | 0.34 | | | | | |
| 0.03 | | | | 0.04 | | | | (0.22 | ) | | | — | | | Income from Discontinued Operations | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 0.93 | | | $ | 0.90 | | | $ | 0.93 | | | $ | 1.20 | | | Net Income | | $ | 0.31 | | | $ | 0.30 | | | $ | 0.32 | | | $ | 0.27 | | | $ | 0.16 | | | $ | 0.30 | | | $ | 0.34 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 70,118 | | | | 69,452 | | | | 68,095 | | | | 66,226 | | | Average Basic Common Shares (000’s) | | | 67,016 | | | | 66,283 | | | | 65,823 | | | | 65,797 | | | | 65,806 | | | | 65,723 | | | | 65,601 | | | | | |
| 70,174 | | | | 70,024 | | | | 68,256 | | | | 66,261 | | | Average Diluted Common Shares (000’s) | | | 67,317 | | | | 66,353 | | | | 65,853 | | | | 65,868 | | | | 65,863 | | | | 65,804 | | | | 65,658 | | | | | |
FTE — Fully taxable equivalent basis
PAGE 3
Old National Bancorp
Balance Sheet (EOP)
Third Quarter 2007
($ in Millions)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Change from Prior Year | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | 9/30/2007 vs. 9/30/2006 | | | | | | | |
Assets | | 9/30/2007 | | | 6/30/2007 | | | 3/31/2007 | | | 12/31/2006 | | | 9/30/2006 | | | $ | | | % | | | 12/31/2005 | | | 12/31/2004 | |
Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Treasury & Government Sponsored Agencies | | $ | 661.2 | | | $ | 637.2 | | | $ | 582.9 | | | $ | 680.2 | | | $ | 546.7 | | | $ | 114.5 | | | | 20.9 | % | | $ | 509.7 | | | $ | 699.3 | |
Municipals | | | 259.6 | | | | 263.2 | | | | 267.0 | | | | 273.3 | | | | 297.2 | | | | (37.6 | ) | | | -12.6 | % | | | 488.4 | | | | 597.6 | |
Mortgage Backed | | | 1,072.5 | | | | 1,113.7 | | | | 1,152.1 | | | | 1,147.0 | | | | 1,192.6 | | | | (120.1 | ) | | | -10.1 | % | | | 1,253.3 | | | | 1,445.1 | |
Fed Funds Sold | | | 0.2 | | | | 5.1 | | | | 330.0 | | | | 83.5 | | | | 78.8 | | | | (78.6 | ) | | | -99.8 | % | | | 123.9 | | | | — | |
Other (1) | | | 272.7 | | | | 264.2 | | | | 298.7 | | | | 479.7 | | | | 247.0 | | | | 25.7 | | | | 10.4 | % | | | 298.2 | | | | 283.0 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Investments (1) | | | 2,266.2 | | | | 2,283.4 | | | | 2,630.7 | | | | 2,663.7 | | | | 2,362.2 | | | | (96.0 | ) | | | -4.1 | % | | | 2,673.5 | | | | 3,025.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Residential Real Estate Loans Held for Sale | | | 13.3 | | | | 19.6 | | | | 19.0 | | | | 16.6 | | | | 15.9 | | | | (2.5 | ) | | | -16.0 | % | | | 43.8 | | | | 22.5 | |
Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Commercial Loans & Leases | | | 1,692.5 | | | | 1,717.2 | | | | 1,667.2 | | | | 1,629.9 | | | | 1,598.1 | | | | 94.5 | | | | 5.9 | % | | | 1,553.7 | | | | 1,550.6 | |
Commercial & Agriculture Real Estate | | | 1,308.3 | | | | 1,379.4 | | | | 1,454.2 | | | | 1,386.4 | | | | 1,406.9 | | | | (98.6 | ) | | | -7.0 | % | | | 1,534.4 | | | | 1,653.1 | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Home Equity | | | 256.0 | | | | 263.0 | | | | 281.1 | | | | 284.8 | | | | 294.3 | | | | (38.3 | ) | | | -13.0 | % | | | 337.4 | | | | 363.8 | |
Other Consumer Loans | | | 954.3 | | | | 948.7 | | | | 918.0 | | | | 914.1 | | | | 925.0 | | | | 29.3 | | | | 3.2 | % | | | 924.4 | | | | 841.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Subtotal of Commercial & Consumer Loans | | | 4,211.1 | | | | 4,308.2 | | | | 4,320.5 | | | | 4,215.1 | | | | 4,224.2 | | | | (13.2 | ) | | | -0.3 | % | | | 4,349.9 | | | | 4,409.4 | |
Residential Real Estate | | | 539.3 | | | | 545.3 | | | | 560.8 | | | | 484.9 | | | | 492.1 | | | | 47.2 | | | | 9.6 | % | | | 543.9 | | | | 555.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Loans | | | 4,750.4 | | | | 4,853.5 | | | | 4,881.2 | | | | 4,700.0 | | | | 4,716.3 | | | | 34.0 | | | | 0.7 | % | | | 4,893.8 | | | | 4,964.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Earning Assets | | | 7,029.9 | | | | 7,156.5 | | | | 7,530.9 | | | | 7,380.3 | | | | 7,094.4 | | | | (64.5 | ) | | | -0.9 | % | | | 7,611.2 | | | | 8,012.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Allowance for Loan Losses | | | (64.1 | ) | | | (67.5 | ) | | | (71.3 | ) | | | (67.8 | ) | | | (71.6 | ) | | | (7.5 | ) | | | -10.5 | % | | | (78.8 | ) | | | (85.7 | ) |
Nonearning Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and Due from Banks | | | 192.9 | | | | 201.6 | | | | 177.6 | | | | 210.3 | | | | 176.6 | | | | 16.3 | | | | 9.2 | % | | | 245.4 | | | | 204.7 | |
Premises & Equipment | | | 47.3 | | | | 44.8 | | | | 54.1 | | | | 122.9 | | | | 123.1 | | | | (75.8 | ) | | | -61.6 | % | | | 199.9 | | | | 212.8 | |
Goodwill & Intangible Assets | | | 191.9 | | | | 192.8 | | | | 194.4 | | | | 134.2 | | | | 134.7 | | | | 57.2 | | | | 42.4 | % | | | 136.3 | | | | 168.8 | |
Other Assets | | | 434.6 | | | | 459.5 | | | | 446.0 | | | | 369.6 | | | | 462.7 | | | | (28.1 | ) | | | -6.1 | % | | | 378.1 | | | | 385.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Nonearning Assets | | | 866.7 | | | | 898.7 | | | | 872.1 | | | | 837.0 | | | | 897.1 | | | | (30.4 | ) | | | -3.4 | % | | | 959.7 | | | | 971.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Assets | | $ | 7,832.5 | | | $ | 7,987.7 | | | $ | 8,331.6 | | | $ | 8,149.5 | | | $ | 7,919.9 | | | $ | (87.4 | ) | | | -1.1 | % | | $ | 8,492.0 | | | $ | 8,898.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities & Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Noninterest-bearing Demand Deposits | | $ | 840.5 | | | $ | 861.4 | | | $ | 859.4 | | | $ | 877.9 | | | $ | 844.9 | | | $ | (4.4 | ) | | | -0.5 | % | | $ | 891.5 | | | $ | 851.2 | |
NOW Accounts | | | 1,427.5 | | | | 1,591.1 | | | | 1,635.8 | | | | 1,449.2 | | | | 1,328.9 | | | | 98.6 | | | | 7.4 | % | | | 1,640.7 | | | | 1,920.5 | |
Savings Accounts | | | 653.4 | | | | 605.9 | | | | 581.7 | | | | 437.7 | | | | 411.4 | | | | 242.0 | | | | 58.8 | % | | | 480.4 | | | | 480.4 | |
Money Market Accounts | | | 690.4 | | | | 746.8 | | | | 851.0 | | | | 925.3 | | | | 868.8 | | | | (178.4 | ) | | | -20.5 | % | | | 869.0 | | | | 573.3 | |
Other Time under $100,000 | | | 1,330.8 | | | | 1,341.0 | | | | 1,363.8 | | | | 1,369.0 | | | | 1,381.5 | | | | (50.7 | ) | | | -3.7 | % | | | 1,378.0 | | | | 1,527.3 | |
Other Time $100,000 & over | | | 673.3 | | | | 754.8 | | | | 1,001.8 | | | | 932.6 | | | | 912.3 | | | | (239.0 | ) | | | -26.2 | % | | | 840.9 | | | | 675.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Core Deposits | | | 5,615.9 | | | | 5,901.2 | | | | 6,293.6 | | | | 5,991.6 | | | | 5,747.8 | | | | (131.9 | ) | | | -2.3 | % | | | 6,100.5 | | | | 6,028.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Borrowed Funds: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Short-term Borrowings | | | 527.0 | | | | 443.0 | | | | 381.0 | | | | 312.9 | | | | 301.5 | | | | 225.5 | | | | 74.8 | % | | | 302.8 | | | | 347.4 | |
Brokered CD’s | | | 258.6 | | | | 311.5 | | | | 316.2 | | | | 329.9 | | | | 336.1 | | | | (77.5 | ) | | | -23.0 | % | | | 365.1 | | | | 390.1 | |
Long-term Borrowings | | | 612.1 | | | | 591.5 | | | | 592.5 | | | | 747.5 | | | | 772.2 | | | | (160.1 | ) | | | -20.7 | % | | | 954.9 | | | | 1,307.0 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Borrowed Funds | | | 1,397.8 | | | | 1,345.9 | | | | 1,289.6 | | | | 1,390.3 | | | | 1,409.8 | | | | (12.0 | ) | | | -0.9 | % | | | 1,622.8 | | | | 2,044.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Accrued Expenses & Other Liabilities | | | 171.4 | | | | 115.1 | | | | 107.8 | | | | 125.2 | | | | 119.5 | | | | 51.9 | | | | 43.4 | % | | | 118.8 | | | | 121.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Liabilities | | | 7,185.1 | | | | 7,362.2 | | | | 7,691.0 | | | | 7,507.1 | | | | 7,277.1 | | | | (92.1 | ) | | | -1.3 | % | | | 7,842.1 | | | | 8,194.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Common Stock, Surplus & Retained Earnings | | | 671.0 | | | | 662.9 | | | | 660.9 | | | | 667.5 | | | | 663.3 | | | | 7.8 | | | | 1.2 | % | | | 671.7 | | | | 699.7 | |
Other Comprehensive Income | | | (23.6 | ) | | | (37.4 | ) | | | (20.3 | ) | | | (25.1 | ) | | | (20.5 | ) | | | (3.1 | ) | | | -15.1 | % | | | (21.8 | ) | | | 4.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Shareholders Equity | | | 647.4 | | | | 625.6 | | | | 640.7 | | | | 642.4 | | | | 642.8 | | | | 4.7 | | | | 0.7 | % | | | 649.9 | | | | 704.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total Liabilities & Shareholders Equity | | $ | 7,832.5 | | | $ | 7,987.7 | | | $ | 8,331.6 | | | $ | 8,149.5 | | | $ | 7,919.9 | | | $ | (87.4 | ) | | | -1.1 | % | | $ | 8,492.0 | | | $ | 8,898.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
EOP — End of period actual balances
N/M = Not meaningful
(1) Includes money market investments.
PAGE 4
Old National Bancorp
Balance Sheet Trends
PERIOD AVERAGES
($ in Millions)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 2006 | | | 2007 | |
2003 | | | 2004 | | | 2005 | | | 2006 | | | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | |
| | | | | | | | | | | | | | | | Assets | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 629.0 | | | $ | 640.4 | | | $ | 574.1 | | | $ | 584.3 | | | Treasury & Gov’t Sponsored Agencies | | $ | 539.6 | | | $ | 635.0 | | | $ | 589.9 | | | $ | 572.9 | | | $ | 648.8 | | | $ | 595.2 | | | $ | 641.5 | | | | | |
| 667.5 | | | | 638.4 | | | | 536.9 | | | | 408.5 | | | Municipals | | | 487.2 | | | | 477.4 | | | | 380.1 | | | | 289.2 | | | | 269.4 | | | | 263.7 | | | | 259.3 | | | | | |
| 1,709.9 | | | | 1,422.5 | | | | 1,346.9 | | | | 1,215.0 | | | Mortgage Backed | | | 1,251.4 | | | | 1,238.2 | | | | 1,199.8 | | | | 1,170.3 | | | | 1,161.4 | | | | 1,130.5 | | | | 1,096.5 | | | | | |
| 4.9 | | | | 68.0 | | | | 12.6 | | | | 50.3 | | | Fed Funds Sold | | | 49.3 | | | | 4.2 | | | | 10.1 | | | | 137.7 | | | | 166.7 | | | | 188.2 | | | | 4.3 | | | | | |
| 143.8 | | | | 180.4 | | | | 298.4 | | | | 291.9 | | | Other (1) | | | 293.1 | | | | 274.5 | | | | 250.9 | | | | 349.2 | | | | 356.2 | | | | 274.5 | | | | 266.1 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3,155.1 | | | | 2,949.7 | | | | 2,769.0 | | | | 2,550.0 | | | Total Investments (1) | | | 2,620.5 | | | | 2,629.3 | | | | 2,430.8 | | | | 2,519.3 | | | | 2,602.5 | | | | 2,452.1 | | | | 2,267.7 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1,686.7 | | | | 1,611.1 | | | | 1,578.2 | | | | 1,592.3 | | | Commercial Loans & Leases | | | 1,535.9 | | | | 1,591.0 | | | | 1,619.1 | | | | 1,623.1 | | | | 1,675.9 | | | | 1,687.7 | | | | 1,677.5 | | | | | |
| 1,866.1 | | | | 1,767.5 | | | | 1,604.2 | | | | 1,466.2 | | | Commercial & Agriculture Real Estate | | | 1,519.7 | | | | 1,491.9 | | | | 1,457.9 | | | | 1,395.1 | | | | 1,433.2 | | | | 1,419.2 | | | | 1,351.5 | | | | | |
| | | | | | | | | | | | | | | | Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 295.8 | | | | 348.9 | | | | 357.6 | | | | 307.1 | | | Home Equity | | | 327.1 | | | | 311.3 | | | | 300.6 | | | | 289.3 | | | | 285.1 | | | | 271.1 | | | | 259.1 | | | | | |
| 799.8 | | | | 847.6 | | | | 889.9 | | | | 929.7 | | | Other Consumer Loans | | | 927.0 | | | | 938.9 | | | | 933.6 | | | | 919.4 | | | | 915.7 | | | | 933.4 | | | | 954.0 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 4,648.3 | | | | 4,575.1 | | | | 4,429.9 | | | | 4,295.3 | | | Subtotal of Commercial & Consumer Loans | | | 4,309.7 | | | | 4,333.2 | | | | 4,311.3 | | | | 4,226.9 | | | | 4,309.9 | | | | 4,311.3 | | | | 4,242.1 | | | | | |
| 1,003.1 | | | | 765.5 | | | | 584.7 | | | | 527.9 | | | Residential Real Estate (2) | | | 557.9 | | | | 527.5 | | | | 519.4 | | | | 506.7 | | | | 550.3 | | | | 570.4 | | | | 557.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 5,651.4 | | | | 5,340.7 | | | | 5,014.7 | | | | 4,823.1 | | | Total Loans (2) | | | 4,867.6 | | | | 4,860.7 | | | | 4,830.7 | | | | 4,733.5 | | | | 4,860.3 | | | | 4,881.7 | | | | 4,799.7 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8,806.6 | | | | 8,290.4 | | | | 7,783.6 | | | | 7,373.1 | | | Total Earning Assets | | | 7,488.1 | | | | 7,490.0 | | | | 7,261.5 | | | | 7,252.9 | | | | 7,462.7 | | | | 7,333.8 | | | | 7,067.4 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (89.1 | ) | | | (97.8 | ) | | | (82.9 | ) | | | (76.5 | ) | | Allowance for Loan Losses | | | (79.1 | ) | | | (77.9 | ) | | | (77.0 | ) | | | (71.8 | ) | | | (71.0 | ) | | | (71.7 | ) | | | (67.6 | ) | | | | |
| 838.5 | | | | 930.9 | | | | 925.8 | | | | 876.7 | | | Nonearning Assets | | | 880.7 | | | | 884.9 | | | | 881.0 | | | | 860.4 | | | | 849.6 | | | | 857.0 | | | | 856.2 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 9,556.0 | | | $ | 9,123.5 | | | $ | 8,626.5 | | | $ | 8,173.4 | | | Total Assets | | $ | 8,289.7 | | | $ | 8,296.9 | | | $ | 8,065.5 | | | $ | 8,041.5 | | | $ | 8,241.4 | | | $ | 8,119.0 | | | $ | 7,856.0 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Liabilities & Equity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 752.8 | | | $ | 803.1 | | | $ | 837.6 | | | $ | 800.7 | | | Noninterest-bearing Demand Deposits | | $ | 811.3 | | | $ | 795.5 | | | $ | 793.0 | | | $ | 802.9 | | | $ | 822.5 | | | $ | 837.5 | | | $ | 821.6 | | | | | |
| 1,504.7 | | | | 1,735.6 | | | | 1,754.9 | | | | 1,429.8 | | | NOW Accounts | | | 1,506.9 | | | | 1,437.7 | | | | 1,360.8 | | | | 1,413.6 | | | | 1,542.1 | | | | 1,616.6 | | | | 1,452.6 | | | | | |
| 479.3 | | | | 471.3 | | | | 485.3 | | | | 441.3 | | | Savings Accounts | | | 489.5 | | | | 444.8 | | | | 415.5 | | | | 415.3 | | | | 539.4 | | | | 583.0 | | | | 619.8 | | | | | |
| 612.0 | | | | 587.0 | | | | 695.0 | | | | 886.2 | | | Money Market Accounts | | | 883.2 | | | | 895.8 | | | | 872.4 | | | | 893.1 | | | | 882.6 | | | | 811.9 | | | | 735.2 | | | | | |
| 2,766.7 | | | | 2,449.3 | | | | 2,202.4 | | | | 2,277.9 | | | Other Time | | | 2,233.9 | | | | 2,232.9 | | | | 2,311.3 | | | | 2,333.4 | | | | 2,347.4 | | | | 2,239.1 | | | | 2,042.7 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6,115.5 | | | | 6,046.3 | | | | 5,975.2 | | | | 5,835.8 | | | Total Core Deposits | | | 5,924.8 | | | | 5,806.8 | | | | 5,753.2 | | | | 5,858.4 | | | | 6,134.0 | | | | 6,088.2 | | | | 5,671.8 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Borrowed Funds: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 687.6 | | | | 406.1 | | | | 388.2 | | | | 402.2 | | | Short-term Borrowings | | | 298.6 | | | | 530.9 | | | | 461.4 | | | | 318.1 | | | | 375.0 | | | | 376.4 | | | | 525.0 | | | | | |
| 296.0 | | | | 375.3 | | | | 376.2 | | | | 338.4 | | | Brokered CD’s | | | 352.8 | | | | 335.7 | | | | 334.2 | | | | 331.1 | | | | 321.3 | | | | 315.6 | | | | 306.3 | | | | | |
| 1,577.1 | | | | 1,463.5 | | | | 1,094.6 | | | | 835.6 | | | Long-term Borrowings | | | 938.0 | | | | 860.6 | | | | 771.4 | | | | 772.4 | | | | 644.0 | | | | 592.8 | | | | 594.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2,560.7 | | | | 2,244.9 | | | | 1,858.9 | | | | 1,576.3 | | | Total Borrowed Funds | | | 1,589.4 | | | | 1,727.1 | | | | 1,567.0 | | | | 1,421.6 | | | | 1,340.2 | | | | 1,284.8 | | | | 1,425.6 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 128.8 | | | | 117.8 | | | | 107.1 | | | | 123.0 | | | Accrued Expenses & Other Liabilities | | | 123.8 | | | | 133.0 | | | | 117.9 | | | | 117.3 | | | | 127.2 | | | | 110.2 | | | | 123.9 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8,805.0 | | | | 8,408.9 | | | | 7,941.2 | | | | 7,535.1 | | | Total Liabilities | | | 7,637.9 | | | | 7,667.0 | | | | 7,438.0 | | | | 7,397.3 | | | | 7,601.4 | | | | 7,483.2 | | | | 7,221.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 717.4 | | | | 708.0 | | | | 690.9 | | | | 666.2 | | | Common Stock, Surplus & Retained Earnings | | | 671.1 | | | | 663.8 | | | | 664.2 | | | | 665.6 | | | | 666.9 | | | | 659.1 | | | | 667.5 | | | | | |
| 33.6 | | | | 6.6 | | | | (5.6 | ) | | | (27.8 | ) | | Other Comprehensive Income | | | (19.3 | ) | | | (33.8 | ) | | | (36.7 | ) | | | (21.4 | ) | | | (26.9 | ) | | | (23.3 | ) | | | (32.9 | ) | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 751.0 | | | | 714.6 | | | | 685.3 | | | | 638.4 | | | Total Shareholders Equity | | | 651.8 | | | | 630.0 | | | | 627.5 | | | | 644.2 | | | | 640.0 | | | | 635.8 | | | | 634.7 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 9,556.0 | | | $ | 9,123.5 | | | $ | 8,626.5 | | | $ | 8,173.4 | | | Total Liabilities & Shareholders Equity | | $ | 8,289.7 | | | $ | 8,296.9 | | | $ | 8,065.5 | | | $ | 8,041.5 | | | $ | 8,241.4 | | | $ | 8,119.0 | | | $ | 7,856.0 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(1) Includes money market investments.
(2) Includes residential loans held for sale.
PAGE 5
Old National Bancorp
Interest Rate Trends (FTE basis)
PERIOD AVERAGES
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 2006 | | | 2007 | |
2003 | | | 2004 | | | 2005 | | | 2006 | | | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | |
| | | | | | | | | | | | | | | | Earning Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Securities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3.83 | % | | | 3.18 | % | | | 3.44 | % | | | 4.55 | % | | Treasury & Gov’t Sponsored Agencies | | | 4.26 | % | | | 4.49 | % | | | 4.66 | % | | | 4.75 | % | | | 4.87 | % | | | 5.11 | % | | | 5.14 | % | | | | |
| 7.02 | % | | | 6.92 | % | | | 6.88 | % | | | 6.93 | % | | Municipals | | | 6.85 | % | | | 6.89 | % | | | 7.00 | % | | | 7.05 | % | | | 7.05 | % | | | 7.04 | % | | | 7.10 | % | | | | |
| 4.12 | % | | | 4.18 | % | | | 4.24 | % | | | 4.55 | % | | Mortgage Backed | | | 4.45 | % | | | 4.57 | % | | | 4.61 | % | | | 4.59 | % | | | 4.61 | % | | | 4.64 | % | | | 4.74 | % | | | | |
| 1.15 | % | | | 1.56 | % | | | 4.19 | % | | | 5.09 | % | | Fed Funds Sold | | | 4.34 | % | | | 5.14 | % | | | 5.40 | % | | | 5.33 | % | | | 5.25 | % | | | 5.29 | % | | | 5.34 | % | | | | |
| 4.28 | % | | | 3.62 | % | | | 4.50 | % | | | 5.17 | % | | Other (1) | | | 5.05 | % | | | 5.31 | % | | | 4.99 | % | | | 5.29 | % | | | 5.37 | % | | | 5.03 | % | | | 5.36 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 4.68 | % | | | 4.46 | % | | | 4.61 | % | | | 5.01 | % | | Total Investments (1) | | | 4.92 | % | | | 5.05 | % | | | 5.04 | % | | | 5.05 | % | | | 5.07 | % | | | 5.10 | % | | | 5.19 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 5.61 | % | | | 5.41 | % | | | 6.39 | % | | | 7.32 | % | | Commercial Loans & Leases | | | 7.06 | % | | | 7.30 | % | | | 7.48 | % | | | 7.43 | % | | | 7.54 | % | | | 7.57 | % | | | 7.54 | % | | | | |
| 5.87 | % | | | 5.70 | % | | | 6.36 | % | | | 7.27 | % | | Commercial & Agriculture Real Estate | | | 7.00 | % | | | 7.22 | % | | | 7.35 | % | | | 7.54 | % | | | 7.35 | % | | | 7.73 | % | | | 7.85 | % | | | | |
| | | | | | | | | | | | | | | | Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 5.12 | % | | | 5.17 | % | | | 6.28 | % | | | 8.04 | % | | Home Equity | | | 7.60 | % | | | 8.02 | % | | | 8.32 | % | | | 8.29 | % | | | 8.29 | % | | | 8.27 | % | | | 8.33 | % | | | | |
| 8.00 | % | | | 7.16 | % | | | 6.93 | % | | | 7.13 | % | | Other Consumer Loans | | | 6.96 | % | | | 7.05 | % | | | 7.22 | % | | | 7.30 | % | | | 7.40 | % | | | 7.60 | % | | | 7.70 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6.10 | % | | | 5.83 | % | | | 6.48 | % | | | 7.31 | % | | Subtotal of Commercial & Consumer Loans | | | 7.05 | % | | | 7.27 | % | | | 7.44 | % | | | 7.49 | % | | | 7.50 | % | | | 7.67 | % | | | 7.73 | % | | | | |
| 6.37 | % | | | 5.60 | % | | | 5.47 | % | | | 5.54 | % | | Residential Real Estate Loans (2) | | | 5.41 | % | | | 5.45 | % | | | 5.66 | % | | | 5.64 | % | | | 5.73 | % | | | 5.90 | % | | | 5.89 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 6.14 | % | | | 5.79 | % | | | 6.36 | % | | | 7.12 | % | | Total Loans (2) | | | 6.86 | % | | | 7.07 | % | | | 7.25 | % | | | 7.30 | % | | | 7.29 | % | | | 7.46 | % | | | 7.51 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 5.62 | % | | | 5.32 | % | | | 5.74 | % | | | 6.39 | % | | Total Earning Assets | | | 6.18 | % | | | 6.36 | % | | | 6.51 | % | | | 6.52 | % | | | 6.51 | % | | | 6.67 | % | | | 6.77 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Interest-bearing Liabilities: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 0.90 | % | | | 0.94 | % | | | 1.44 | % | | | 1.92 | % | | NOW Accounts | | | 1.80 | % | | | 1.87 | % | | | 1.93 | % | | | 2.07 | % | | | 2.34 | % | | | 2.43 | % | | | 2.16 | % | | | | |
| 0.73 | % | | | 0.47 | % | | | 0.87 | % | | | 1.28 | % | | Savings Accounts | | | 1.33 | % | | | 1.16 | % | | | 1.25 | % | | | 1.39 | % | | | 2.35 | % | | | 2.29 | % | | | 2.50 | % | | | | |
| 0.94 | % | | | 1.10 | % | | | 2.71 | % | | | 3.32 | % | | Money Market Accounts | | | 3.23 | % | | | 3.19 | % | | | 3.38 | % | | | 3.48 | % | | | 3.55 | % | | | 3.31 | % | | | 3.06 | % | | | | |
| 3.96 | % | | | 3.25 | % | | | 3.32 | % | | | 4.15 | % | | Other Time | | | 3.78 | % | | | 3.99 | % | | | 4.30 | % | | | 4.51 | % | | | 4.64 | % | | | 4.70 | % | | | 4.63 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2.47 | % | | | 1.99 | % | | | 2.36 | % | | | 3.12 | % | | Total Interest-bearing Deposits | | | 2.87 | % | | | 2.99 | % | | | 3.23 | % | | | 3.39 | % | | | 3.56 | % | | | 3.52 | % | | | 3.38 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Borrowed Funds: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1.06 | % | | | 0.96 | % | | | 2.48 | % | | | 3.98 | % | | Short-term Borrowings | | | 3.25 | % | | | 4.18 | % | | | 4.26 | % | | | 3.89 | % | | | 4.11 | % | | | 4.02 | % | | | 4.12 | % | | | | |
| 4.92 | % | | | 4.71 | % | | | 4.64 | % | | | 4.57 | % | | Brokered CD’s | | | 4.35 | % | | | 4.50 | % | | | 4.74 | % | | | 4.71 | % | | | 4.74 | % | | | 4.76 | % | | | 4.83 | % | | | | |
| 3.81 | % | | | 4.05 | % | | | 5.26 | % | | | 6.03 | % | | Long-term Borrowings | | | 5.58 | % | | | 5.91 | % | | | 6.34 | % | | | 6.41 | % | | | 6.55 | % | | | 6.77 | % | | | 6.82 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3.20 | % | | | 3.60 | % | | | 4.55 | % | | | 5.20 | % | | Total Borrowed Funds | | | 4.87 | % | | | 5.10 | % | | | 5.39 | % | | | 5.45 | % | | | 5.43 | % | | | 5.47 | % | | | 5.40 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2.71 | % | | | 2.48 | % | | | 2.95 | % | | | 3.61 | % | | Total Interest-bearing Liabilities | | | 3.34 | % | | | 3.53 | % | | | 3.75 | % | | | 3.84 | % | | | 3.93 | % | | | 3.90 | % | | | 3.84 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2.91 | % | | | 2.84 | % | | | 2.79 | % | | | 2.78 | % | | Net Interest Rate Spread | | | 2.83 | % | | | 2.83 | % | | | 2.76 | % | | | 2.68 | % | | | 2.58 | % | | | 2.77 | % | | | 2.93 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 3.18 | % | | | 3.08 | % | | | 3.09 | % | | | 3.15 | % | | Net Interest Margin | | | 3.18 | % | | | 3.18 | % | | | 3.15 | % | | | 3.09 | % | | | 3.00 | % | | | 3.20 | % | | | 3.37 | % | | | | |
FTE — Fully taxable equivalent basis
(1) Includes money market investments.
(2) Includes residential loans held for sale.
PAGE 6
Old National Bancorp
Asset Quality (EOP)
($ in Millions)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | 2006 | | | 2007 | |
2003 | | | 2004 | | | 2005 | | | 2006 | | | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | | | 1st Qtr | | | 2nd Qtr | | | 3rd Qtr | | | 4th Qtr | |
$ | 87.7 | | | $ | 95.2 | | | $ | 85.7 | | | $ | 78.8 | | | Beginning Allowance for Loan Losses | | $ | 78.8 | | | $ | 76.8 | | | $ | 76.4 | | | $ | 71.6 | | | $ | 67.8 | | | $ | 71.3 | | | $ | 67.5 | | | | | |
| 85.0 | | | | 22.4 | | | | 23.1 | | | | 7.0 | | | Provision for Loan Losses | | | 3.5 | | | | 3.5 | | | | — | | | | — | | | | 2.4 | | | | — | | | | — | | | | | |
| — | | | | — | | | | — | | | | — | | | Acquired from acquisition | | | — | | | | — | | | | — | | | | — | | | | 5.7 | | | | — | | | | — | | | | | |
| (9.3 | ) | | | 0.7 | | | | — | | | | — | | | Transfer to Allow. Unfunded Commitments | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | | |
| (61.6 | ) | | | (41.2 | ) | | | (36.1 | ) | | | (27.9 | ) | | Gross Charge-offs | | | (7.4 | ) | | | (6.4 | ) | | | (4.6 | ) | | | (9.6 | ) | | | (7.7 | ) | | | (6.0 | ) | | | (4.2 | ) | | | | |
| (14.7 | ) | | | (4.6 | ) | | | (5.3 | ) | | | (2.8 | ) | | Write-downs from Loans Sold | | | — | | | | — | | | | (2.8 | ) | | | — | | | | — | | | | (1.1 | ) | | | (1.4 | ) | | | | |
| 8.2 | | | | 13.2 | | | | 11.5 | | | | 12.7 | | | Gross Recoveries | | | 1.9 | | | | 2.4 | | | | 2.6 | | | | 5.7 | | | | 3.1 | | | | 3.3 | | | | 2.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (68.1 | ) | | | (32.6 | ) | | | (30.0 | ) | | | (18.1 | ) | | Net Charge-offs | | | (5.5 | ) | | | (4.0 | ) | | | (4.7 | ) | | | (3.8 | ) | | | (4.6 | ) | | | (3.8 | ) | | | (3.3 | ) | | | | |
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$ | 95.2 | | | $ | 85.7 | | | $ | 78.8 | | | $ | 67.8 | | | Ending Allowance for Loan Losses | | $ | 76.8 | | | $ | 76.4 | | | $ | 71.6 | | | $ | 67.8 | | | $ | 71.3 | | | $ | 67.5 | | | $ | 64.1 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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| 1.21 | % | | | 0.61 | % | | | 0.60 | % | | | 0.37 | % | | Net Charge-offs / Average Loans (1) | | | 0.46 | % | | | 0.33 | % | | | 0.39 | % | | | 0.32 | % | | | 0.38 | % | | | 0.31 | % | | | 0.28 | % | | | | |
$ | 5,651.4 | | | $ | 5,340.7 | | | $ | 5,014.7 | | | $ | 4,823.1 | | | Average Loans Outstanding (1) | | $ | 4,867.6 | | | $ | 4,860.7 | | | $ | 4,830.7 | | | $ | 4,733.5 | | | $ | 4,860.3 | | | $ | 4,881.7 | | | $ | 4,799.7 | | | | | |
$ | 5,586.5 | | | $ | 4,987.3 | | | $ | 4,937.6 | | | $ | 4,716.6 | | | EOP Loans Outstanding (1) | | $ | 4,831.5 | | | $ | 4,875.9 | | | $ | 4,732.2 | | | $ | 4,716.6 | | | $ | 4,900.2 | | | $ | 4,873.1 | | | $ | 4,763.7 | | | | | |
| 1.70 | % | | | 1.72 | % | | | 1.60 | % | | | 1.44 | % | | Allowance for Loan Loss / EOP Loans (1) | | | 1.59 | % | | | 1.57 | % | | | 1.51 | % | | | 1.44 | % | | | 1.46 | % | | | 1.38 | % | | | 1.35 | % | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Underperforming Assets: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 5.1 | | | $ | 2.4 | | | $ | 1.8 | | | $ | 2.1 | | | Loans 90 Days & over (still accruing) | | $ | 1.4 | | | $ | 1.3 | | | $ | 3.1 | | | $ | 2.1 | | | $ | 0.5 | | | $ | 1.0 | | | $ | 2.2 | | | | | |
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| | | | | | | | | | | | | | | | Non-performing Loans: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 104.6 | | | | 54.9 | | | | 55.6 | | | | 41.5 | | | Nonaccrual Loans | | | 51.4 | | | | 51.7 | | | | 44.9 | | | | 41.5 | | | | 60.4 | | | | 58.5 | | | | 49.3 | | | | | |
| — | | | | — | | | | — | | | | 0.1 | | | Renegotiated Loans | | | — | | | | 0.1 | | | | 0.1 | | | | 0.1 | | | | 0.0 | | | | 0.0 | | | | — | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 104.6 | | | | 54.9 | | | | 55.6 | | | | 41.6 | | | Total Non-performing Loans | | | 51.4 | | | | 51.8 | | | | 44.9 | | | | 41.6 | | | | 60.5 | | | | 58.5 | | | | 49.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 8.8 | | | | 8.3 | | | | 3.6 | | | | 3.3 | | | Foreclosed properties | | | 2.3 | | | | 2.9 | | | | 4.0 | | | | 3.3 | | | | 3.6 | | | | 2.3 | | | | 7.9 | | | | | |
$ | 118.5 | | | $ | 65.6 | | | $ | 61.0 | | | $ | 47.0 | | | Total Underperforming Assets | | $ | 55.1 | | | $ | 56.1 | | | $ | 52.1 | | | $ | 47.0 | | | $ | 64.6 | | | $ | 61.8 | | | $ | 59.4 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 343.9 | | | $ | 192.2 | | | $ | 136.6 | | | $ | 153.2 | | | Classified Loans — “Problem Loans” | | $ | 139.8 | | | $ | 137.9 | | | $ | 127.8 | | | $ | 153.2 | | | $ | 166.4 | | | $ | 131.8 | | | $ | 130.2 | | | | | |
| 215.7 | | | | 148.1 | | | | 83.2 | | | | 119.8 | | | Criticized Loans — “Special Mention Loans” | | | 81.6 | | | | 64.8 | | | | 119.2 | | | | 119.8 | | | | 97.8 | | | | 89.8 | | | | 79.1 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | 559.6 | | | $ | 340.3 | | | $ | 219.8 | | | $ | 273.0 | | | Total Classified & Criticized Loans | | $ | 221.4 | | | $ | 202.7 | | | $ | 247.0 | | | $ | 273.0 | | | $ | 264.2 | | | $ | 221.6 | | | $ | 209.3 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1.87 | % | | | 1.10 | % | | | 1.13 | % | | | 0.88 | % | | Non-performing loans / EOP Loans (1) | | | 1.06 | % | | | 1.06 | % | | | 0.95 | % | | | 0.88 | % | | | 1.23 | % | | | 1.20 | % | | | 1.04 | % | | | | |
| 91 | % | | | 156 | % | | | 142 | % | | | 163 | % | | Allowance to Non-performing Loans | | | 150 | % | | | 147 | % | | | 159 | % | | | 163 | % | | | 118 | % | | | 115 | % | | | 130 | % | | | | |
| 2.12 | % | | | 1.31 | % | | | 1.24 | % | | | 1.00 | % | | Under-performing Assets / EOP Loans (1) | | | 1.14 | % | | | 1.15 | % | | | 1.10 | % | | | 1.00 | % | | | 1.32 | % | | | 1.27 | % | | | 1.25 | % | | | | |
$ | 9,363.2 | | | $ | 8,898.3 | | | $ | 8,492.0 | | | $ | 8,149.5 | | | EOP Total Assets | | $ | 8,244.9 | | | $ | 8,306.5 | | | $ | 7,919.9 | | | $ | 8,149.5 | | | $ | 8,331.6 | | | $ | 7,987.7 | | | $ | 7,832.5 | | | | | |
| 1.27 | % | | | 0.74 | % | | | 0.72 | % | | | 0.58 | % | | Under-performing Assets / EOP Assets | | | 0.67 | % | | | 0.67 | % | | | 0.66 | % | | | 0.58 | % | | | 0.77 | % | | | 0.77 | % | | | 0.76 | % | | | | |
EOP — End of period actual balances
(1) Includes residential loans held for sale.
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