Exhibit 99.2
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Statements of Income
Three Months Ended | ||||||||||||||||||||
December 2009 | December 2008 | September 2009 | June 2009 | March 2009 | ||||||||||||||||
Interest & Loan Fees Income | $ | 88,181 | $ | 103,186 | $ | 90,427 | $ | 92,532 | $ | 94,705 | ||||||||||
Tax equivalent adjustment | 2,632 | 3,180 | 2,701 | 2,902 | 2,964 | |||||||||||||||
Interest & Fees Income (FTE) | 90,813 | 106,366 | 93,128 | 95,434 | 97,669 | |||||||||||||||
Interest Expense | 27,159 | 39,961 | 29,104 | 30,323 | 33,788 | |||||||||||||||
Net Interest Income (FTE) | 63,654 | 66,405 | 64,024 | 65,111 | 63,881 | |||||||||||||||
Credit Loss Provision | 6,719 | 12,207 | 8,067 | 23,251 | 8,028 | |||||||||||||||
Non-Interest Income: | ||||||||||||||||||||
Fees from trust & brokerage services | 2,823 | 3,568 | 3,142 | 3,506 | 3,594 | |||||||||||||||
Fees from deposit services | 10,165 | 9,853 | 10,566 | 10,255 | 9,303 | |||||||||||||||
Bankcard fees and merchant discounts | 1,070 | 980 | 1,104 | 1,058 | 923 | |||||||||||||||
Other charges, commissions, and fees | 459 | 405 | 470 | 526 | 451 | |||||||||||||||
Income (loss) from bank owned life insurance | 1,127 | 150 | 1,051 | 1,340 | (102 | ) | ||||||||||||||
Mortgage banking income | 132 | 43 | 172 | 167 | 137 | |||||||||||||||
Other non-interest revenue | 1,032 | 5,341 | 896 | 2,293 | 1,015 | |||||||||||||||
Net other-than-temporary impairment losses | (2,828 | ) | (1,179 | ) | (10,960 | ) | (1,137 | ) | (95 | ) | ||||||||||
Net gains (losses) on sales/calls of investment securities | 227 | 19 | 82 | (158 | ) | 164 | ||||||||||||||
Total Non-Interest Income | 14,207 | 19,180 | 6,523 | 17,850 | 15,390 | |||||||||||||||
Non-Interest Expense: | ||||||||||||||||||||
Employee compensation | 14,468 | 15,217 | 14,735 | 14,751 | 14,947 | |||||||||||||||
Employee benefits | 4,751 | 3,075 | 4,818 | 4,734 | 4,889 | |||||||||||||||
Net occupancy | 4,188 | 4,248 | 4,124 | 4,154 | 4,552 | |||||||||||||||
Other expenses | 15,846 | 21,831 | 15,799 | 16,244 | 14,902 | |||||||||||||||
Amortization of intangibles | 577 | 747 | 618 | 662 | 704 | |||||||||||||||
OREO expense | 1,805 | 928 | 1,576 | 869 | 1,237 | |||||||||||||||
FDIC expense | 2,306 | 554 | 2,004 | 4,284 | 583 | |||||||||||||||
Total Non-Interest Expense | 43,941 | 46,600 | 43,674 | 45,698 | 41,814 | |||||||||||||||
Income Before Income Taxes (FTE) | 27,201 | 26,778 | 18,806 | 14,012 | 29,429 | |||||||||||||||
Tax equivalent adjustment | 2,632 | 3,180 | 2,701 | 2,902 | 2,964 | |||||||||||||||
Income Before Income Taxes | 24,569 | 23,598 | 16,105 | 11,110 | 26,465 | |||||||||||||||
Income taxes | 7,125 | 7,079 | 4,040 | 2,954 | (3,168 | ) | ||||||||||||||
Net Income | $ | 17,444 | $ | 16,519 | $ | 12,065 | $ | 8,156 | $ | 29,633 | ||||||||||
MEMO: Effective Tax Rate | 29.00 | % | 30.00 | % | 25.09 | % | 26.59 | % | (11.97 | )% |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Statements of Income
Year Ended | ||||||||||||||||
December 2009 | December 2008 | December 2007 | December 2006 | |||||||||||||
Interest & Loan Fees Income | $ | 365,845 | $ | 429,911 | $ | 438,729 | $ | 400,683 | ||||||||
Tax equivalent adjustment | 11,199 | 14,229 | 16,472 | 15,452 | ||||||||||||
Interest & Fees Income (FTE) | 377,044 | 444,140 | 455,201 | 416,135 | ||||||||||||
Interest Expense | 120,374 | 177,119 | 213,310 | 181,090 | ||||||||||||
Net Interest Income (FTE) | 256,670 | 267,021 | 241,891 | 235,045 | ||||||||||||
Credit Loss Provision | 46,065 | 25,155 | 5,330 | 1,437 | ||||||||||||
Non-Interest Income: | ||||||||||||||||
Fees from trust & brokerage services | 13,065 | 16,582 | 15,414 | 12,948 | ||||||||||||
Fees from deposit services | 40,289 | 39,189 | 33,835 | 29,077 | ||||||||||||
Bankcard fees and merchant discounts | 4,155 | 5,815 | 6,063 | 5,351 | ||||||||||||
Other charges, commissions, and fees | 1,906 | 1,932 | 1,704 | 1,549 | ||||||||||||
Income (loss) from bank owned life insurance | 3,416 | 4,093 | 5,389 | 4,422 | ||||||||||||
Mortgage banking income | 608 | 385 | 527 | 855 | ||||||||||||
Loss on termination of interest rate swaps associated with prepayment of FHLB advances | — | — | (8,113 | ) | (4,599 | ) | ||||||||||
Other non-interest revenue | 5,236 | 8,725 | 2,998 | 2,606 | ||||||||||||
Net other-than-temporary impairment losses | (15,020 | ) | (10,489 | ) | (577 | ) | (68 | ) | ||||||||
Net gains (losses) on sales/calls of investment securities | 315 | 1,071 | 509 | (3,108 | ) | |||||||||||
Total Non-Interest Income | 53,970 | 67,303 | 57,749 | 49,033 | ||||||||||||
Non-Interest Expense: | ||||||||||||||||
Employee compensation | 58,901 | 61,347 | 53,294 | 49,562 | ||||||||||||
Employee benefits | 19,192 | 13,680 | 11,945 | 13,582 | ||||||||||||
Net occupancy | 17,018 | 16,682 | 14,421 | 12,547 | ||||||||||||
Other expenses | 62,791 | 72,239 | 58,548 | 50,273 | ||||||||||||
Prepayment penalties on FHLB advances | — | — | 5,117 | 8,261 | ||||||||||||
Amortization of intangibles | 2,561 | 3,494 | 2,868 | 1,886 | ||||||||||||
OREO expense | 5,487 | 2,484 | 1,167 | 482 | ||||||||||||
FDIC expense | 9,177 | 1,147 | 569 | 580 | ||||||||||||
Total Non-Interest Expense | 175,127 | 171,073 | 147,929 | 137,173 | ||||||||||||
Income Before Income Taxes (FTE) | 89,448 | 138,096 | 146,381 | 145,468 | ||||||||||||
Tax equivalent adjustment | 11,199 | 14,229 | 16,472 | 15,452 | ||||||||||||
Income Before Income Taxes | 78,249 | 123,867 | 129,909 | 130,016 | ||||||||||||
Income taxes | 10,951 | 36,913 | 39,235 | 40,767 | ||||||||||||
Net Income | $ | 67,298 | $ | 86,954 | $ | 90,674 | $ | 89,249 | ||||||||
MEMO: Effective Tax Rate | 14.00 | % | 29.80 | % | 30.20 | % | 31.36 | % |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Consolidated Balance Sheets
December 31 2009 Q-T-D Average | December 31 2008 Q-T-D Average | December 31 2009 | December 31 2008 | December 31 2007 | ||||||||||||||||
Cash & Cash Equivalents | $ | 492,304 | $ | 199,752 | $ | 449,767 | $ | 213,534 | $ | 230,651 | ||||||||||
Securities Available for Sale | 902,873 | 1,151,121 | 811,777 | 1,097,043 | 1,156,561 | |||||||||||||||
Securities Held to Maturity | 81,777 | 124,427 | 77,421 | 116,407 | 157,228 | |||||||||||||||
Other Investment Securities | 77,723 | 76,453 | 77,722 | 78,372 | 80,975 | |||||||||||||||
Total Securities | 1,062,373 | 1,352,001 | 966,920 | 1,291,822 | 1,394,764 | |||||||||||||||
Total Cash and Securities | 1,554,677 | 1,551,753 | 1,416,687 | 1,505,356 | 1,625,415 | |||||||||||||||
Loans Held for Sale | 5,015 | 933 | 5,284 | 868 | 1,270 | |||||||||||||||
Commercial Loans | 3,806,711 | 3,855,156 | 3,801,254 | 3,916,768 | 3,648,999 | |||||||||||||||
Mortgage Loans | 1,624,467 | 1,753,300 | 1,606,560 | 1,754,100 | 1,772,441 | |||||||||||||||
Consumer Loans | 344,149 | 352,661 | 332,964 | 349,690 | 379,121 | |||||||||||||||
Gross Loans | 5,775,327 | 5,961,117 | 5,740,778 | 6,020,558 | 5,800,561 | |||||||||||||||
Unearned Income | (4,204 | ) | (6,604 | ) | (3,969 | ) | (6,403 | ) | (7,077 | ) | ||||||||||
Loans, Net of Unearned Income | 5,771,123 | 5,954,513 | 5,736,809 | 6,014,155 | 5,793,484 | |||||||||||||||
Allowance for Loan Losses | (67,988 | ) | (57,416 | ) | (67,853 | ) | (61,494 | ) | (50,456 | ) | ||||||||||
Goodwill | 312,139 | 312,370 | 312,069 | 312,263 | 312,111 | |||||||||||||||
Other Intangibles | 5,127 | 7,795 | 4,823 | 7,384 | 10,878 | |||||||||||||||
Total Intangibles | 317,266 | 320,165 | 316,892 | 319,647 | 322,989 | |||||||||||||||
Real Estate Owned | 41,491 | 13,777 | 40,058 | 19,817 | 6,365 | |||||||||||||||
Other Assets | 304,870 | 291,511 | 357,224 | 303,742 | 295,672 | |||||||||||||||
Total Assets | $ | 7,926,454 | $ | 8,075,236 | $ | 7,805,101 | $ | 8,102,091 | $ | 7,994,739 | ||||||||||
MEMO: Earning Assets | $ | 7,136,412 | $ | 7,289,879 | $ | 6,956,322 | $ | 7,267,990 | $ | 7,167,127 | ||||||||||
Interest-bearing Deposits | $ | 4,896,135 | $ | 4,722,244 | $ | 4,862,943 | $ | 4,741,855 | $ | 4,436,323 | ||||||||||
Noninterest-bearing Deposits | 1,080,107 | 893,494 | 1,108,157 | 906,099 | 913,427 | |||||||||||||||
Total Deposits | 5,976,242 | 5,615,738 | 5,971,100 | 5,647,954 | 5,349,750 | |||||||||||||||
Short-term Borrowings | 310,591 | 763,681 | 222,944 | 778,320 | 1,036,063 | |||||||||||||||
Long-term Borrowings | 807,468 | 853,597 | 771,935 | 852,685 | 774,162 | |||||||||||||||
Total Borrowings | 1,118,059 | 1,617,278 | 994,879 | 1,631,005 | 1,810,225 | |||||||||||||||
Other Liabilities | 55,935 | 57,107 | 77,572 | 86,420 | 73,565 | |||||||||||||||
Total Liabilities | 7,150,236 | 7,290,123 | 7,043,551 | 7,365,379 | 7,233,540 | |||||||||||||||
Preferred Equity | — | — | — | — | — | |||||||||||||||
Common Equity | 776,218 | 785,113 | 761,550 | 736,712 | 761,199 | |||||||||||||||
Total Shareholders’ Equity | 776,218 | 785,113 | 761,550 | 736,712 | 761,199 | |||||||||||||||
Total Liabilities & Equity | $ | 7,926,454 | $ | 8,075,236 | $ | 7,805,101 | $ | 8,102,091 | $ | 7,994,739 | ||||||||||
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Three Months Ended | |||||||||||||||||
Quarterly Share Data: | December 2009 | December 2008 | September 2009 | June 2009 | March 2009 | ||||||||||||
Earnings Per Share: | |||||||||||||||||
Basic | $ | 0.40 | $ | 0.38 | $ | 0.28 | $ | 0.19 | $ | 0.68 | |||||||
Diluted | $ | 0.40 | $ | 0.38 | $ | 0.28 | $ | 0.19 | $ | 0.68 | |||||||
Common Dividend Declared Per Share | $ | 0.30 | $ | 0.29 | $ | 0.29 | $ | 0.29 | $ | 0.29 | |||||||
High Common Stock Price | $ | 20.81 | $ | 35.00 | $ | 23.56 | $ | 27.75 | $ | 33.64 | |||||||
Low Common Stock Price | $ | 16.39 | $ | 21.05 | $ | 16.68 | $ | 16.81 | $ | 13.15 | |||||||
Average Shares Outstanding (Net of Treasury Stock): | |||||||||||||||||
Basic | 43,426,784 | 43,358,278 | 43,410,532 | 43,396,901 | 43,407,224 | ||||||||||||
Diluted | 43,460,382 | 43,546,679 | 43,455,723 | 43,463,108 | 43,465,298 | ||||||||||||
Memorandum Items: | |||||||||||||||||
Tax Applicable to Security Sales/Calls | $ | 79 | $ | 7 | $ | 29 | $ | (55 | ) | $ | 57 | ||||||
Common Dividends | $ | 13,044 | $ | 12,589 | $ | 12,600 | $ | 12,599 | $ | 12,594 | |||||||
Year Ended | |||||||||||||||||
YTD Share Data: | December 2009 | December 2008 | December 2007 | December 2006 | |||||||||||||
Earnings Per Share: | |||||||||||||||||
Basic | $ | 1.55 | $ | 2.01 | $ | 2.16 | $ | 2.15 | |||||||||
Diluted | $ | 1.55 | $ | 2.00 | $ | 2.15 | $ | 2.13 | |||||||||
Common Dividend Declared Per Share | $ | 1.17 | $ | 1.16 | $ | 1.13 | $ | 1.09 | |||||||||
Average Shares Outstanding (Net of Treasury Stock): | |||||||||||||||||
Basic | 43,410,431 | 43,286,894 | 41,901,422 | 41,532,121 | |||||||||||||
Diluted | 43,456,889 | 43,434,083 | 42,222,899 | 41,942,889 | |||||||||||||
Memorandum Items: | |||||||||||||||||
Tax Applicable to Security Sales/Calls | $ | 110 | $ | 375 | $ | 178 | $ | (1,088 | ) | ||||||||
Common Dividends | $ | 50,837 | $ | 50,231 | $ | 47,446 | $ | 45,219 | |||||||||
EOP Employees (full-time equivalent) | 1,477 | 1,531 | 1,537 | 1,367 |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Three Months Ended | ||||||||||||||||||||
EOP Share Data: | December 2009 | December 2008 | September 2009 | June 2009 | March 2009 | |||||||||||||||
Book Value Per Share | $ | 17.53 | $ | 16.97 | $ | 17.78 | $ | 17.42 | $ | 17.44 | ||||||||||
Tangible Book Value Per Share | $ | 10.24 | $ | 9.61 | $ | 10.47 | $ | 10.09 | $ | 10.10 | ||||||||||
52-week High Common Stock Price | $ | 33.64 | $ | 42.00 | $ | 35.00 | $ | 42.00 | $ | 42.00 | ||||||||||
Date | 01/02/09 | 09/19/08 | 10/02/08 | 09/19/08 | 09/19/08 | |||||||||||||||
52-week Low Common Stock Price | $ | 13.15 | $ | 18.52 | $ | 13.15 | $ | 13.15 | $ | 13.15 | ||||||||||
Date | 03/06/09 | 07/15/08 | 03/06/09 | 03/06/09 | 03/06/09 | |||||||||||||||
EOP Shares Outstanding (Net of Treasury Stock): | 43,437,738 | 43,403,891 | 43,406,545 | 43,412,424 | 43,397,108 | |||||||||||||||
Three Months Ended | ||||||||||||||||||||
December 2009 | December 2008 | September 2009 | June 2009 | March 2009 | ||||||||||||||||
Selected Yields and Net Interest Margin: | ||||||||||||||||||||
Loans | 5.43 | % | 5.97 | % | 5.45 | % | 5.44 | % | 5.50 | % | ||||||||||
Investment Securities | 4.76 | % | 5.30 | % | 5.08 | % | 5.24 | % | 5.34 | % | ||||||||||
Money Market Investments/FFS | 0.22 | % | 0.83 | % | 0.13 | % | 0.11 | % | 0.45 | % | ||||||||||
Average Earning Assets Yield | 5.06 | % | 5.82 | % | 5.26 | % | 5.38 | % | 5.45 | % | ||||||||||
Interest-bearing Deposits | 1.50 | % | 2.46 | % | 1.64 | % | 1.79 | % | 2.08 | % | ||||||||||
Short-term Borrowings | 0.06 | % | 0.54 | % | 0.05 | % | 0.16 | % | 0.22 | % | ||||||||||
Long-term Borrowings | 4.25 | % | 4.54 | % | 4.29 | % | 4.29 | % | 4.15 | % | ||||||||||
Average Liability Costs | 1.79 | % | 2.51 | % | 1.93 | % | 2.01 | % | 2.19 | % | ||||||||||
Net Interest Spread | 3.27 | % | 3.31 | % | 3.33 | % | 3.37 | % | 3.26 | % | ||||||||||
Net Interest Margin | 3.55 | % | 3.63 | % | 3.63 | % | 3.67 | % | 3.56 | % | ||||||||||
Selected Financial Ratios: | ||||||||||||||||||||
Return on Average Common Equity | 8.92 | % | 8.37 | % | 6.25 | % | 4.27 | % | 16.25 | % | ||||||||||
Return on Average Assets | 0.87 | % | 0.81 | % | 0.61 | % | 0.41 | % | 1.50 | % | ||||||||||
Efficiency Ratio | 51.65 | % | 51.79 | % | 50.94 | % | 52.42 | % | 50.34 | % |
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Year Ended | ||||||||||||
December 2009 | December 2008 | December 2007 | December 2006 | |||||||||
Selected Yields and Net Interest Margin: | ||||||||||||
Loans | 5.46 | % | 6.34 | % | 7.44 | % | 7.20 | % | ||||
Investment Securities | 5.08 | % | 5.46 | % | 5.70 | % | 5.67 | % | ||||
Money Market Investments/FFS | 0.18 | % | 1.94 | % | 5.14 | % | 4.35 | % | ||||
Average Earning Assets Yield | 5.27 | % | 6.15 | % | 7.07 | % | 6.84 | % | ||||
Interest-bearing Deposits | 1.75 | % | 2.71 | % | 3.54 | % | 3.10 | % | ||||
Short-term Borrowings | 0.14 | % | 1.69 | % | 4.31 | % | 4.04 | % | ||||
Long-term Borrowings | 4.24 | % | 4.49 | % | 5.61 | % | 6.38 | % | ||||
Average Liability Costs | 1.98 | % | 2.81 | % | 3.88 | % | 3.57 | % | ||||
Net Interest Spread | 3.29 | % | 3.34 | % | 3.19 | % | 3.27 | % | ||||
Net Interest Margin | 3.59 | % | 3.70 | % | 3.76 | % | 3.86 | % | ||||
Selected Financial Ratios: | ||||||||||||
Return on Average Common Equity | 8.81 | % | 11.12 | % | 12.99 | % | 13.90 | % | ||||
Return on Average Assets | 0.85 | % | 1.09 | % | 1.28 | % | 1.34 | % | ||||
Loan / Deposit Ratio | 96.08 | % | 106.48 | % | 108.29 | % | 99.56 | % | ||||
Allowance for Loan Losses/ Loans, Net of Unearned Income | 1.18 | % | 1.02 | % | 0.87 | % | 0.91 | % | ||||
Allowance for Credit Losses(1)/ Loans, Net of Unearned Income | 1.22 | % | 1.06 | % | 1.01 | % | 1.09 | % | ||||
Nonaccrual Loans / Loans, Net of Unearned Income | 0.89 | % | 0.70 | % | 0.24 | % | 0.12 | % | ||||
90-Day Past Due Loans/ Loans, Net of Unearned Income | 0.35 | % | 0.20 | % | 0.25 | % | 0.18 | % | ||||
Non-performing Loans/ Loans, Net of Unearned Income | 1.26 | % | 0.90 | % | 0.49 | % | 0.30 | % | ||||
Non-performing Assets/ Total Assets | 1.44 | % | 0.91 | % | 0.43 | % | 0.27 | % | ||||
Primary Capital Ratio | 10.56 | % | 9.80 | % | 10.18 | % | 10.14 | % | ||||
Shareholders’ Equity Ratio | 9.76 | % | 9.09 | % | 9.52 | % | 9.44 | % | ||||
Price / Book Ratio | 1.14 | x | 1.96 | x | 1.59 | x | 2.50 | x | ||||
Price / Earnings Ratio | 12.90 | x | 16.59 | x | 13.05 | x | 18.16 | x | ||||
Efficiency Ratio | 51.35 | % | 48.03 | % | 48.01 | % | 46.93 | % |
Note: (1) Includes allowances for loan losses and lending-related commitments.
UNITED BANKSHARES, INC. AND SUBSIDIARIES
Washington, D.C. and Charleston, WV
Stock Symbol: UBSI
(In Thousands Except for Per Share Data)
Asset Quality Data: | December 2009 | December 2008 | September 2009 | June 2009 | March 2009 | |||||||||||||||
EOP Non-Accrual Loans | $ | 50,856 | $ | 42,317 | $ | 47,933 | $ | 42,825 | $ | 40,248 | ||||||||||
EOP 90-Day Past Due Loans | 20,314 | 11,881 | 23,854 | 16,532 | 19,214 | |||||||||||||||
EOP Restructured Loans | 1,087 | — | 1,091 | 1,095 | 1,134 | |||||||||||||||
Total EOP Non-performing Loans | $ | 72,257 | $ | 54,198 | $ | 72,878 | $ | 60,452 | $ | 60,596 | ||||||||||
EOP Other Real Estate & Assets Owned | 40,058 | 19,817 | 44,758 | 42,223 | 31,768 | |||||||||||||||
Total EOP Non-performing Assets | $ | 112,315 | $ | 74,015 | $ | 117,636 | $ | 102,675 | $ | 92,364 | ||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
Allowance for Credit Losses:(1) | December 2009 | December 2008 | December 2009 | December 2008 | December 2007 | |||||||||||||||
Beginning Balance | $ | 69,738 | $ | 59,388 | $ | 63,603 | $ | 58,744 | $ | 52,371 | ||||||||||
Allowance of Purchased Companies | — | — | — | — | 7,648 | |||||||||||||||
Provision Expense | 6,719 | 12,207 | 46,065 | 25,155 | 5,330 | |||||||||||||||
76,457 | 71,595 | 109,668 | 83,899 | 65,349 | ||||||||||||||||
Gross Charge-offs | (6,709 | ) | (8,152 | ) | (41,077 | ) | (21,198 | ) | (7,738 | ) | ||||||||||
Recoveries | 262 | 160 | 1,419 | 902 | 1,133 | |||||||||||||||
Net Charge-offs | (6,447 | ) | (7,992 | ) | (39,658 | ) | (20,296 | ) | (6,605 | ) | ||||||||||
Ending Balance | $ | 70,010 | $ | 63,603 | $ | 70,010 | $ | 63,603 | $ | 58,744 | ||||||||||
Note: (1) Includes allowances for loan losses and lending-related commitments.