First Financial Bancorp. (FFBC) 8-K First Financial Bancorp Reports Third-Quarter Earnings

EXHIBIT 99.1

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[FIRST FINANCIAL BANCORP LOGO & LETTERHEAD]

October 20, 2003

First Financial Bancorp Reports Third-Quarter Earnings

HAMILTON, Ohio – First Financial Bancorp (Nasdaq: FFBC) Chairman of the Board, Bruce E. Leep, today announced third-quarter 2003 earnings of $7,824,000 or 18 cents in diluted earnings per share, compared to $10,802,000 or 24 cents for the same period in 2002. This represents a 25.00 percent decrease in earnings per share from the third quarter of 2002. Bancorp also announced year-to-date earnings of $29,065,000 or 65 cents in diluted earnings per share compared to $36,634,000 or 79 cents in diluted earnings per share for the same period in 2002. This represents a 17.72 percent decrease in year-to-date earnings per share.

Return on assets for the third quarter was 0.80 percent for 2003, compared to 1.16 percent for the same period in 2002. Return on average shareholders’ equity was 8.32 percent for the third quarter of 2003, versus 11.10 percent for the comparable period in 2002. Year-to-date return on assets was 1.02 percent compared to 1.31 percent in 2002, while return on average shareholders equity decreased to 10.42 percent from 12.64 percent.

(The preceding overview of First Financial Bancorp’s earnings is supplemented with the following detail:)

Net Interest Income:

Net interest income for the third quarter of 2003 was $4.2 million or 10.37 percent less than the third quarter of 2002. The major contributing factor to the decline in net interest income was net interest margin compression due to the asset-sensitive position of Bancorp’s balance sheet. Net interest income on a year-to-date basis decreased $12.5 million or 10.15 percent. Bancorp’s net interest margin decreased to 3.98 percent in the third quarter of 2003 from 4.70 percent in the third quarter of 2002. Year-to-date net interest margin was 4.17 percent compared to 4.74 percent in 2002. This margin compression was due to the continued downward repricing of assets without a like decrease in deposit liability rates. The

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continued repricing of adjustable and variable rate loans was the primary driver in loan interest and fees in the third quarter that was $6.2 million or 12.05 percent lower than the comparable period a year ago. The margin compression was further compounded by ongoing payments in the loan portfolio that were reinvested in loan originations at lower yields due to the existing rate environment.

Investment income declined by $1.1 million or 14.23 percent from the third quarter a year ago. As interest rates declined, cash flows from mortgage-related investment prepayments and called securities accelerated, causing a redeployment of funds at lower yields. In total, interest income declined by $7.4 million or 12.41 percent from the third quarter 2002. A decline in total interest expense of $3.2 million or 16.77 percent in the third quarter of 2003 versus third quarter of 2002 did not offset the decline in interest income. The trust preferred securities issued by Bancorp raised the overall level of interest expense, but provided long-term funding primarily for stock repurchase activity.

Average outstanding loan balances on a linked-quarter basis – third quarter 2003 compared to second quarter 2003 – were 0.63 percent higher. The primary area of loan growth has been in the residential real estate category. On a linked-quarter basis, the average real estate-mortgage portfolio increased by $25.6 million. From year-end, the real estate-mortgage portfolio increased $104 million or 7.63 percent. That growth, plus a slight increase in installment loans, offset decreases in commercial, real estate-construction, credit card and lease financing for total loan growth since December 2002 of $72.2 million or 2.63 percent on ending balances.

The third quarter of 2003 marks the largest percentage increase in average deposits since the second quarter of 2001, despite the sale of the $13.7 million Chickasaw office. While noninterest-bearing deposit balances decreased approximately $20.0 million from year-end, interest-bearing deposit balances increased $71.1 million. Likewise, average noninterest-bearing deposit balances decreased approximately $13.9 million from the linked quarter, while interest-bearing deposit balances increased $55.9 million from the linked quarter. Approximately $29.3 million of this shift in balances was due to an account-type change by a significant customer. The growth in total deposit balances is largely attributable to increased sales efforts in retail banking centers.

Credit Quality:

The provision for loan loss expense for the third quarter of 2003 was $4.4 million compared to $5.2 million for the same period in 2002. Year-to-date provision expense was $11.5 million or $2.7 million less than 2002. Net charge-offs of $4.6 million for the third quarter were $552,000 more than the $4.0 million in net charge-offs for the third quarter of 2002. Year-to-date net charge-offs were $11.0 million in 2003, down $1.1 million from the $12.1 million recorded in 2002. The percentage of net charge-offs to

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average loans was 0.53 percent for year-to-date 2003 compared to 0.58 percent for the same period in 2002.

Bancorp continued to maintain appropriate reserves with an allowance to ending loans ratio of 1.73 percent at quarter end versus 1.76 percent the same quarter a year ago. It is management’s belief that the allowance for loan losses is adequate to absorb estimated probable credit losses.

Total nonperforming assets – which includes nonaccrual loans, restructured loans, and other real estate owned – increased to $38.0 million at the end of the third quarter of 2003 from $31.0 million at September 30, 2002. Restructured loans increased by $5.8 million, accounting for the majority of the increase in nonperforming assets. Other real estate owned increased $1.4 million while nonaccrual loans remained relatively constant.

On a linked-quarter basis total nonperforming assets remained flat, increasing only $196,000 or 0.52 percent. Total underperforming assets on a linked quarter basis decreased 0.26 percent as loans delinquent over 90 days decreased by $304,000.

Bancorp’s level of nonperforming assets is reflective of the uncertain economy in the corporation’s primary markets in Ohio and Indiana. If the current economic conditions continue or decline, Bancorp could see a continued less-than-favorable impact on credit quality. Bancorp is actively addressing its credit quality issues.

Noninterest Income:

Third quarter 2003 noninterest income, excluding securities transactions, was $15,101,000, an increase of 4.97 percent from the third quarter of 2002. Service charge income increased $73,000 or 1.49 percent from the same quarter a year ago. Trust revenues for the third quarter of 2003 were $169,000 or 4.46 percent less than the comparable period last year. The other category of noninterest income increased $811,000 or 14.27 percent from a year ago, as gains on the sale of mortgage loans increased $1,140,000 and a gain was recorded from the sale of the Chickasaw office of Bancorp’s subsidiary, Community First Bank & Trust. Impairment charges of $929,000 against the mortgage-servicing asset in a valuation reserve were included as a reduction in other income for the third quarter of 2003. There were no such charges in the third quarter of 2002.

Year-to-date noninterest income, excluding securities transactions, increased 0.14 percent. This slight increase was primarily the result of an increase in the gains on the sale of mortgage loans of $1,313,000 and a decrease in trust fees of $794,000.

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Noninterest Expense:

Total noninterest expense increased $1,471,000 or 4.29 percent for the third quarter of 2003 from the third quarter of 2002. The single largest category of increase was salaries expense, up $3,643,000 or 20.22 percent due primarily to a $3.1 million charge attributable to the Separation Agreement and Release for Bancorp’s former chief executive officer, Stanley N. Pontius. This agreement was filed with Form 8-K on October 16, 2003, and is available on Bancorp’s website at (www.ffbc.oh.com). In the third quarter of 2002, Project Renaissance expenses impacted the noninterest expense categories of furniture and equipment, data-processing, and other noninterest expense for a total of approximately $2,200,000. As a result of higher-than-normal 2002 expenses, 2003 furniture and equipment expense was down $277,000, data-processing expense was down $616,000 and other noninterest expense was down $1,280,000 from 2002. Year-to-date noninterest expense for 2003 was $1,168,000 or 1.19 percent more than 2002.

Other Items:

Bancorp repurchased 228,400 shares of its common stock during the third quarter of 2003 under a previously approved and ongoing program for general corporate purposes.

During the third quarter of 2003, the previously announced sale of a $13.7 million Community First Bank & Trust branch located in Chickasaw, Ohio, to Osgood State Bank was completed.

Also during the third quarter of 2003, Bancorp’s subsidiary, Heritage Community Bank, Columbus, Indiana, signed an agreement with FCN Bank, NA, Brookville, Indiana, for the assumption of the deposits and the purchase of loans and facilities of Heritage Community Bank’s Sunman banking center. Subject to regulatory approval, the purchase is expected to be consummated in the fourth quarter of 2003.

In a continued effort to diversify Bancorp’s funding sources for general corporate purposes, including the funding of its ongoing stock purchase plan, Bancorp sold $20 million in trust preferred securities in the third quarter of 2003. Callable in five years, these 30-year securities were issued by First Financial (OH) Statutory Trust II, a wholly owned subsidiary of Bancorp, and placed as part of a pooled offering of trust preferred securities.

Director Resignation:

Martin J. Bidwell, a member of First Financial Bancorp’s board of directors since 1999, resigned from the board on September 30, 2003.

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A $3.9 billion publicly owned bank holding company with over 4,000 shareholders, First Financial Bancorp currently operates 8 banking affiliates in Ohio, Michigan, Kentucky, and Indiana with a total of 102 retail banking centers, as well as an investment-advisor affiliate and an operations affiliate.

This release should be read in conjunction with the consolidated financial statements, notes, and tables attached and in the First Financial Bancorp Annual Report on Form 10-K for the year ended December 31, 2002. Management’s analysis may contain forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risk and uncertainties that may cause actual results to differ materially. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to, the strength of the local economies in which operations are conducted, the effects of and changes in policies and laws of regulatory agencies, inflation, and interest rates. For further discussion of certain factors that may cause such forward-looking statements to differ materially from actual results, refer to the 2002 Form 10-K.

First Financial Bancorp
P.O. Box 476
Hamilton, OH 45012
Analyst Contact: C. Douglas Lefferson
513-867-4993
doug.lefferson@ffbc-oh.com
Media Contact: Cheryl R. Lipp
513-867-4929

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FIRST FINANCIAL BANCORP.
CONSOLIDATED FINANCIAL DATA

(Dollars in thousands, except per share data)
(Unaudited)

																			Nine months ended
				Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			September 30,
				2003			2003			2003			2002			2002			2003			2002
EARNINGS
Net interest income				$	36,373		$	37,179		$	37,236		$	39,447		$	40,583		$	110,788		$	123,310
Net earnings					7,824			10,610			10,631			11,601			10,802			29,065			36,634
Net earnings per share — basic				$	0.18		$	0.24		$	0.24		$	0.26		$	0.24		$	0.65		$	0.79
Net earnings per share — diluted				$	0.18		$	0.24		$	0.24		$	0.26		$	0.24		$	0.65		$	0.79
KEY RATIOS
Return on average assets					0.80	%		1.11	%		1.16	%		1.25	%		1.16	%		1.02	%		1.31	%
Return on average shareholders’ equity					8.32	%		11.46	%		11.52	%		12.22	%		11.10	%		10.42	%		12.64	%
Average shareholders’ equity to average assets					9.58	%		9.66	%		10.03	%		10.26	%		10.50	%		9.75	%		10.37	%
Net interest margin					3.98	%		4.17	%		4.37	%		4.60	%		4.70	%		4.17	%		4.74	%
Net interest margin (fully tax equivalent)					4.08	%		4.28	%		4.48	%		4.72	%		4.82	%		4.27	%		4.86	%
COMMON STOCK DATA
Average basic shares outstanding					44,122,446			44,486,775			44,893,511			45,217,538			45,686,803			44,498,086			46,104,115
Average diluted shares outstanding					44,160,906			44,519,484			45,048,972			45,369,400			45,812,452			44,573,629			46,232,351
Ending shares outstanding					44,049,702			44,277,529			44,709,604			45,003,923			45,458,525			44,049,702			45,458,525
Market price:
		High		$	16.60		$	17.00		$	17.19		$	18.87		$	20.00		$	17.19		$	20.31
		Low		$	14.67		$	15.00		$	15.26		$	15.99		$	15.90		$	14.67		$	15.65
		Close		$	14.75		$	15.83		$	15.86		$	16.39		$	17.81		$	14.75		$	17.81
Book value				$	8.34		$	8.40		$	8.34		$	8.39		$	8.49		$	8.34		$	8.49
Common dividend declared				$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	0.45		$	0.45
AVERAGE BALANCE SHEET ITEMS
Loans less unearned income				$	2,829,582		$	2,811,848		$	2,765,970		$	2,751,664		$	2,777,657		$	2,802,700		$	2,797,193
Investment securities					778,365			747,090			650,619			605,729			634,160			725,826			635,270
Other earning assets					15,845			13,619			40,751			44,556			15,518			23,314			42,283
	Total earning assets				3,623,792			3,572,557			3,457,340			3,401,949			3,427,335			3,551,840			3,474,746
Total assets					3,894,426			3,841,251			3,730,744			3,670,699			3,678,706			3,822,740			3,736,681
Noninterest-bearing deposits					392,862			406,730			416,824			410,568			396,230			405,384			405,315
Interest-bearing deposits					2,592,383			2,536,477			2,487,612			2,487,086			2,498,098			2,539,208			2,563,780
	Total deposits				2,985,245			2,943,207			2,904,436			2,897,654			2,894,328			2,944,592			2,969,095
Borrowings					486,825			481,731			410,100			356,646			367,367			459,833			354,742
Shareholders’ equity					372,957			371,219			374,236			376,515			386,211			372,799			387,349
CREDIT QUALITY
Ending allowance for loan losses				$	48,680		$	48,876		$	48,305		$	48,177		$	48,890		$	48,680		$	48,890
Nonperforming assets:
	Nonaccrual				28,374			28,210			24,276			21,456			28,679			28,374			28,679
	Restructured				6,532			7,188			6,291			5,375			691			6,532			691
	OREO				3,054			2,366			2,636			2,792			1,619			3,054			1,619
		Total nonperforming assets			37,960			37,764			33,203			29,623			30,989			37,960			30,989
Loans delinquent over 90 days					3,186			3,490			3,575			6,818			7,360			3,186			7,360
Gross charge-offs:
	Commercial real estate				(300	)		(424	)		(112	)		(618	)		(56	)		(836	)		(407	)
	Commercial loans and leases				(2,771	)		(1,800	)		(1,699	)		(1,669	)		(2,479	)		(6,270	)		(7,283	)
	Consumer				(2,351	)		(1,957	)		(2,354	)		(2,844	)		(2,343	)		(6,662	)		(6,854	)
	All other				(38	)		(18	)		0			(13	)		(84	)		(56	)		(185	)
		Total gross charge-offs			(5,460	)		(4,199	)		(4,165	)		(5,144	)		(4,962	)		(13,824	)		(14,729	)
Recoveries:
	Commercial real estate				5			45			5			111			1			55			23
	Commercial loans and leases				316			229			432			1,763			438			977			1,073
	Consumer				576			553			642			567			512			1,771			1,446
	All other				3			1			0			49			3			4			60
		Total recoveries			900			828			1,079			2,490			954			2,807			2,602
			Total net charge-offs		(4,560	)		(3,371	)		(3,086	)		(2,654	)		(4,008	)		(11,017	)		(12,127	)
CREDIT QUALITY RATIOS
Allowance to ending loans, net of unearned income					1.73	%		1.73	%		1.74	%		1.75	%		1.76	%		1.73	%		1.76	%
Nonperforming assets to ending loans, net of unearned income plus OREO					1.34	%		1.33	%		1.19	%		1.08	%		1.11	%		1.34	%		1.11	%
90 days past due to loans, net of unearned income					0.11	%		0.12	%		0.13	%		0.25	%		0.26	%		0.11	%		0.26	%
Net charge-offs to average loans, net of unearned income					0.64	%		0.48	%		0.45	%		0.38	%		0.57	%		0.53	%		0.58	%

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF EARNINGS

(Dollars in thousands)
(Unaudited)

										Three months
										ended,						Nine months ended,
					Sep. 30,		Jun. 30,			Mar. 31,		Dec. 31,		Sep. 30,		September 30,
					2003		2003			2003		2002		2002		2003		2002
Interest income
	Loans, including fees				$	45,256	$	46,418		$	46,704	$	49,827	$	51,459	$	138,378	$	158,304
	Investment securities
			Taxable			5,263		5,220			5,258		5,505		6,208		15,741		19,366
			Tax-exempt			1,579		1,632			1,664		1,740		1,769		4,875		5,432
				Total investment securities interest		6,842		6,852			6,922		7,245		7,977		20,616		24,798
	Interest-bearing deposits with other banks					26		28			51		42		64		105		298
	Federal funds sold and securities purchased under agreements to resell					24		37			74		163		36		135		331
				Total interest income		52,148		53,335			53,751		57,277		59,536		159,234		183,731
Interest expense
	Deposits					10,692		11,396			12,084		13,580		14,826		34,172		48,516
	Short-term borrowings					443		530			380		380		539		1,353		1,347
	Long-term borrowings					4,161		4,112			3,931		3,731		3,588		12,204		10,558
	Corporation-obligated mandatorily redeemable capital securities of subsidiary trust					479		118			120		139		0		717		0
				Total interest expense		15,775		16,156			16,515		17,830		18,953		48,446		60,421
				Net interest income		36,373		37,179			37,236		39,447		40,583		110,788		123,310
	Provision for loan losses					4,364		3,942			3,214		1,941		5,189		11,520		14,233
			Net interest income after provision for loan losses			l32,009		33,237			34,022		37,506		35,394		99,268		109,077
Noninterest income
	Service charges on deposit accounts					4,984		4,923			4,598		4,980		4,911		14,505		14,585
	Trust revenues					3,623		3,522			3,707		3,739		3,792		10,852		11,646
	Investment securities gains					28		(36	)		28		80		0		20		9
	Other					6,494		5,797			5,517		4,788		5,683		17,808		16,872
				Total noninterest income		15,129		14,206			13,850		13,587		14,386		43,185		43,112
Noninterest expenses
	Salaries and employee benefits					21,664		18,028			18,191		17,644		18,021		57,883		53,975
	Net occupancy					1,899		1,816			2,078		2,139		1,901		5,793		5,834
	Furniture and equipment					1,752		1,847			1,801		2,170		2,029		5,400		5,559
	Data processing					1,690		1,516			1,487		1,630		2,306		4,693		6,187
	Deposit insurance					147		150			100		137		185		397		472
	State taxes					432		434			460		431		381		1,326		1,316
	Amortization of intangibles					201		211			201		201		211		613		646
	Other					7,954		7,815			7,441		10,013		9,234		23,210		24,158
				Total noninterest expenses		35,739		31,817			31,759		34,365		34,268		99,315		98,147
Income before income taxes						11,399		15,626			16,113		16,728		15,512		43,138		54,042
Income tax expense						3,575		5,016			5,482		5,127		4,710		14,073		17,408
				Net earnings	$	7,824	$	10,610		$	10,631	$	11,601	$	10,802	$	29,065	$	36,634
ADDITIONAL DATA — FULLY TAX EQUIVALENT NET INTEREST INCOME
Interest income					$	52,148	$	53,335		$	53,751	$	57,277	$	59,536	$	159,234	$	183,731
Tax equivalent adjustment						900		918			938		984		1,017		2,756		3,124
		Interest income — tax equivalent				53,048		54,253			54,689		58,261		60,553		161,990		186,855
Interest expense						15,775		16,156			16,515		17,830		18,953		48,446		60,421
		Net interest income — tax equivalent			$	37,273	$	38,097		$	38,174	$	40,431	$	41,600	$	113,544	$	126,434

FIRST FINANCIAL BANCORP.
CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)

					Sep. 30,			Dec. 31,			Sep. 30,
					2003			2002			2002
ASSETS
	Cash and due from banks				$	159,185		$	181,839		$	157,387
	Interest-bearing deposits with other banks					4,336			4,474			3,029
	Federal funds sold and securities purchased under agreements to resell					15,904			28,291			4,237
	Investment securities, held-to-maturity					18,700			21,571			21,883
	Investment securities, available-for-sale					774,813			605,345			595,132
	Loans
				Commercial		681,045			690,656 *			697,747
				Real estate-construction		68,472			89,674			92,515
				Real estate-mortgage		1,472,607			1,368,207 *			1,369,406
				Installment		563,941			556,975			579,466
				Credit card		20,189			22,068			20,995
				Lease financing		14,574			21,031			24,719
				Total loans		2,820,828			2,748,611			2,784,848
				Less
				Unearned income		138			523			738
				Allowance for loan losses		48,680			48,177			48,890
				Net loans		2,772,010			2,699,911			2,735,220
	Premises and equipment					58,068			56,348			57,256
	Goodwill					27,379			27,379			27,379
	Other intangibles					8,183			9,147			9,041
	Deferred income taxes receivable					8,633			4,107			0
	Other assets					100,922			91,540			90,110
				Total Assets	$	3,948,133		$	3,729,952		$	3,700,674
LIABILITIES
	Deposits
			Noninterest-bearing		$	402,571		$	422,453		$	416,941
			Interest-bearing			2,571,069			2,499,981			2,471,057
				Total deposits		2,973,640			2,922,434			2,887,998
	Short-term borrowings					223,472			95,180			113,062
	Long-term borrowings					324,863			290,051			271,192
	Corporation-obligated mandatorily redeemable capital securities of subsidiary trust					30,000			10,000			10,000
	Deferred tax payable					0			0			3,550
	Accrued interest and other liabilities					30,092			34,684			29,489
				Total Liabilities		3,582,067			3,352,349			3,315,291
SHAREHOLDERS’ EQUITY
		Common stock				395,888			396,252			396,261
		Retained earnings				48,078			39,005			34,170
		Accumulated comprehensive income				2,714			8,189			13,028
		Restricted stock awards				(3,849	)		(4,022	)		(4,346	)
		Treasury stock, at cost				(76,765	)		(61,821	)		(53,730	)
				Total Shareholders’ Equity		366,066			377,603			385,383
				Total Liabilities and Shareholders’ Equity	$	3,948,133		$	3,729,952		$	3,700,674

ADDITIONAL DATA — RISK BASED CAPITAL

	Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,
	2003			2003			2003			2002			2002
Tier 1 Capital	$	358,292		$	338,933		$	341,739		$	344,090		$	350,918
Tier 1 Ratio		12.92	%		12.50	%		12.66	%		12.62	%		12.89	%
Total Capital	$	393,122		$	373,011		$	375,662		$	378,339		$	385,137
Total Capital Ratio		14.18	%		13.76	%		13.92	%		13.88	%		14.14	%
Total Risk-Adjusted Assets	$	2,772,571		$	2,711,426		$	2,699,431		$	2,726,025		$	2,722,820
Leverage Ratio		9.28	%		8.90	%		9.24	%		9.46	%		9.62	%

* Includes reclassification of approximately $70 million from Commercial to Real estate-mortgage during the period.

FIRST FINANCIAL BANCORP.
AVERAGE CONSOLIDATED STATEMENTS OF CONDITION

(Dollars in thousands)
(Unaudited)

											Quarterly
											Averages									Year-to-Date Averages
					Sep. 30,			Jun. 30,			Mar. 31,			Dec. 31,			Sep. 30,			September 30,
					2003			2003			2003			2002			2002			2003			2002
ASSETS
	Cash and due from banks				$	129,005		$	127,405		$	140,351		$	141,484		$	122,045		$	132,212		$	128,443
	Interest-bearing deposits with other bank					5,671			7,235			9,294			5,605			9,900			7,387			17,099
	Federal funds sold and securities purchased under agreements to resell					10,174			6,384			31,457			38,951			5,618			15,927			25,184
	Investment securities					778,365			747,090			650,619			605,729			634,160			725,826			635,270
	Loans
				Commercial		695,980			700,439			701,288			683,576*			741,938*			699,216			771,144
				Real estate-construction		69,072			77,879			86,466			107,238			71,439			77,742			79,141
				Real estate-mortgage		1,469,535			1,443,940			1,388,330			1,351,743*			1,342,129*			1,434,232			1,324,741
				Installment		559,600			552,301			549,668			565,887			575,502			553,893			572,191
				Credit card		20,169			20,077			20,692			20,973			21,093			20,311			21,128
				Lease financing		15,405			17,488			19,911			22,862			26,442			17,585			30,126
				Total loans		2,829,761			2,812,124			2,766,355			2,752,279			2,778,543			2,802,979			2,798,471
				Less
				Unearned income		179			276			385			615			886			279			1,278
				Allowance for loan losses		48,849			48,168			48,625			50,101			48,563			48,548			47,748
				Net loans		2,780,733			2,763,680			2,717,345			2,701,563			2,729,094			2,754,152			2,749,445
			Premises and equipment			57,825			56,675			56,468			56,955			57,927			56,994			59,153
			Deferred income tax			7,969			5,555			3,958			0			0			5,842			0
			Other assets			124,684			127,227			121,252			120,412			119,962			124,400			122,087
		Total Assets			$	3,894,426		$	3,841,251		$	3,730,744		$	3,670,699		$	3,678,706		$	3,822,740		$	3,736,681
LIABILITIES
			Deposits
				Interest-bearing	$	350,756		$	291,770		$	298,561		$	262,957		$	273,064			313,887			304,099
				Savings		884,453			874,626			850,866			873,547			864,761			870,105			840,304
				Time		1,357,174			1,370,081			1,338,185			1,350,582			1,360,273			1,355,216			1,419,377
				Total interest- bearing deposits		2,592,383			2,536,477			2,487,612			2,487,086			2,498,098			2,539,208			2,563,780
				Noninterest-bearing		392,862			406,730			416,824			410,568			396,230			405,384			405,315
				Total deposits		2,985,245			2,943,207			2,904,436			2,897,654			2,894,328			2,944,592			2,969,095
			Borrowed funds
				Short-term borrowings		161,742			157,965			102,310			82,149			107,802			140,890			92,897
				Long-term borrowings		325,083			323,766			307,790			274,497			259,565			318,943			261,845
				Total borrowed funds		486,825			481,731			410,100			356,646			367,367			459,833			354,742
				Corporation-obligated mandatorily redeemable capital securities of subsidiary trust		26,956			10,000			10,000			10,002			543			15,714			183
			Deferred income tax			0			0			0			2,019			2,790			0			1,226
			Accrued interest and other liabilities			22,443			35,094			31,972			27,863			27,467			29,802			24,086
		TotalLiabilities				3,521,469			3,470,032			3,356,508			3,294,184			3,292,495			3,449,941			3,349,332
SHAREHOLDERS’ EQUITY
			Common stock			395,894			395,916			396,033			396,257			396,276			395,947			396,471
			Retained earnings			54,001			43,281			38,881			31,874			33,531			45,443			29,942
			Accumulated comprehensive income			3,680			7,501			8,379			10,655			10,559			6,503			7,576
			Restricted stock awards			(4,969	)		(5,613	)		(5,625	)		(4,193	)		(4,545	)		(5,400	)		(4,689	)
			Treasury stock, at cost			(75,649	)		(69,866	)		(63,432	)		(58,078	)		(49,610	)		(69,694	)		(41,951	)
	Total Shareholders’ Equity					372,957			371,219			374,236			376,515			386,211			372,799			387,349
	Total Liabilities and Shareholders’ Equity				$	3,894,426		$	3,841,251		$	3,730,744		$	3,670,699		$	3,678,706		$	3,822,740		$	3,736,681

* Includes reclassification of approximately $70 million from Commercial to Real estate-mortgage during the third quarter of 2002, which affected the averages for the third and fourth quarters of 2002 by approximately $35 million each.