Old Kent Financial 8-K Current report

NYSE:	OK
FOR RELEASE:	Immediate
DATE:	October 18, 2000
CONTACT:	Albert T. Potas (616) 771-1931

Old Kent Reports Third Quarter Earnings
- - Operating EPS increased 7.3% to $0.59 per share -

          Grand Rapids, Michigan  --  Old Kent reported its operating results for the quarter ended September 30, 2000. David Wagner, Chairman, President and CEO said, "Continued loan growth and the favorable credit quality we experienced were positive influences on our results this past quarter."

Third Quarter 2000 Financial Highlights:

Excluding merger related charges recognized during the previous year's third quarter:

• Diluted earnings per share was $0.59 for the third quarter of 2000, a 7.3% increase over 1999.

• Net income was $81.7 million, or 6.6% more than the third quarter of 1999.

• Total (taxable equivalent) revenues increased 0.6% and operating expenses increased 0.2%.

• The return on average common equity was 21.14% compared to 20.16% for the third quarter of 1999.

• The return on average total assets was 1.47% versus 1.50% for the preceding year's third quarter.

• Commercial loans increased to $9.1 billion at September 30, 2000, up 17.2% from that same date last year.

• Consumer loans totaled $5.2 billion at September 30, 2000, 48.6% more than at September 30, 1999.

• Nonperforming assets represented 0.40% of total assets and net loan charge-offs were 0.12% of average loans.

Revenues:

          Total taxable equivalent revenues, exclusive of security transactions, were $317.2 million for the third quarter of 2000. Net interest income for the third quarter of 2000 was $196 million, versus $199 million for the same year ago period. The favorable effects of growth in loans and an increase in total interest-earning assets were offset by the detrimental impact of rising interest rates over the past several quarters on the Corporation's funding costs. At September 30, 2000, total loans were $15.6 billion, 19.9% greater than the year ago level. Total interest-earning assets were $20.6 billion, or 10.8% more than last year. The net interest margin for the three months ended September 30, 2000, was 3.95% compared to 4.34% for the third quarter of 1999.

          Total non-interest revenues, excluding security transactions, increased by 4.5% to $115.2 million. Mortgage banking revenues, with production volumes down due to the effects of higher interest rates, decreased by 4.5% to $45.0 million. Investment management and trust revenues rose by 5.5% over last year's third quarter to $21.3 million and deposit account revenues increased 3.7% over the comparable 1999 period.

Expenses:

          Total non-interest operating expenses for the third quarter of 2000 rose negligibly compared to the year ago period.

Asset Quality:

          The Corporation's provision for credit losses was $8.6 million for the third quarter of 2000, similar to the $8.4 million for the same period in 1999. Net loan charge-offs for the three month period ended September 30, 2000 were $4.7 million, or 0.12% of total average loans for the quarter. For the same period of 1999, this ratio was 0.15%. At September 30, 2000, the allowance for credit losses was 1.43% of total loans compared to 1.59% twelve months earlier. Impaired loans were 0.50% of total loans at September 30, 2000, comparable to 0.48% one year earlier.

Year-to-date Results:

          Excluding special charges related to acquisitions during both 2000 and 1999, diluted operating earnings per share was $1.72 for the first nine months of 2000, compared to $1.58 for the same prior year period. On this same basis, net operating income was $239.0 million for the nine month period ended September 30, 2000, compared to $223.5 million for the same period of 1999. The returns on average common equity and average total assets were 20.77% and 1.48%, respectively, for the nine months ended September 30, 2000. These compared to returns of 19.59% and 1.45%, respectively, for the first nine months of 1999.

          Inclusive of after-tax merger related charges of $43.6 million, or $0.31 per share, diluted earnings per share was $1.41; net income was $195.4 million; and the returns on average common equity and total average assets were 17.33% and 1.21%, respectively, for the nine month period ended September 30, 2000.

Conference Call:

          Old Kent's management will host a conference call to discuss the operating results for the quarter ended September 30, 2000, at 11:00 a.m. (Eastern Daylight Time) on October 18, 2000. The conference may be accessed by dialing 800-553-2350 ("listen only" mode) just prior to the scheduled start time. A replay of the call will be available through October 25, 2000, by dialing 800-696-1588 (passcode: 817777). Participants located outside the United States may dial 303-267-1002. The call, on a "live" or replay basis, may also be accessed through Old Kent's website, www.oldkent.com.

Websites:

          Information about Old Kent and its products and services, including the OK Cafe and OK Invest Direct, is available through its website, www.oldkent.com, and through related sites: www.o ldkentfinadvisors.com; www.kentfunds.com; www.oldkentinsurance.com; and www.oldkentmortgage.com.

Description of Old Kent:

          Old Kent is a financial holding company headquartered in Grand Rapids, Michigan, with a 41 year history of consecutive increases in annual per share earnings and dividends. It operates nearly 300 banking offices in Michigan, Illinois and Indiana, as well as a nationwide mortgage lending franchise. At September 30, 2000, Old Kent had total assets of $22.5 billion.

EARNINGS SUMMARY:	2000	1999 (a) (b)	Percentage Change
Quarter ended September 30:
Before merger-related charges:
Basic Earnings per Share	$              0.59	$              0.55	7.3	%
Diluted Earnings per Share	$              0.59	$              0.55	7.3	%
Net Income	$   81,654,000	$   76,585,000	6.6	%
After merger-related charges:
Basic Earnings per Share	$              0.59	$              0.42	40.5	%
Diluted Earnings per Share	$              0.59	$              0.42	40.5	%
Net Income	$   81,654,000	$   58,985,000	38.4	%
Nine months ended September 30:
Before merger-related charges:
Basic Earnings per Share	$              1.74	$              1.60	8.8	%
Basic Earnings per Share	$              1.72	$              1.58	8.9	%
Net Income	$ 239,016,000	$ 223,480,000	7.0	%

After merger-related charges:
Basic Earnings per Share	$              1.42	$              1.47	-3.4	%
Diluted Earnings per Share	$              1.41	$              1.46	-3.4	%
Net Income	$ 195,440,000	$ 205,880,000	-5.1	%
Balance Sheet Data at September 30:
Commercial Loans	$9,111,279,000	$7,773,869,000	17.2	%
Consumer Loans	5,177,922,000	3,484,713,000	48.6	%
Residential Mortgage Loans	1,328,126,000	1,770,698,000	-25.0	%
Total Loans	15,617,327,000	13,029,280,000	19.9	%
Total Interest-earning Assets	20,602,640,000	18,598,596,000	10.8	%
Core Deposits	14,503,562,000	14,471,318,000	0.2	%
Total Deposits	16,758,128,000	15,660,840,000	7.0	%
Total Assets	22,518,600,000	20,242,256,000	11.2	%
Shareholders' Equity	1,601,649,000	1,500,271,000	6.8	%
(a)  adjusted to reflect a five percent stock dividend paid July 14, 2000.
(b)  restated to include Merchants Bancorp, Inc. acquired February 11, 2000, and Grand Premier Financial, Inc.         acquired April 1, 2000, in "pooling-of-interests" transactions.

###

Consolidated Key Financial Data(a)
[Amounts in thousands,			2nd Quarter					1st Quarter						3rd Quarter
except per share data]			2000					2000						1999
(Unaudited)	3rdQuarter		Excluding			2nd Quarter		Excluding		1st Quarter		4th Quarter		Excluding		3rd Quarter
Key Statistics	2000	Merger Charges				2000	Merger Charges			2000		1999	Merger Charges			1999
Net income	$81,654			$81,755		$55,685		$75,607		$58,101		$73,238		$76,585		$58,985
Basic earnings per share	$0.59			$0.59		$0.40		$0.55		$0.42		$0.53		$0.55		$0.42
Diluted earnings per   share	0.59			0.59		0.40		0.54		0.42		0.53		0.55		0.42
Cash basis earnings per   share(b)	0.62			0.62		0.43		0.57		0.44		0.56		0.58		0.45
Operating revenue per   share(c)	2.29			2.28		2.28		2.23		2.23		2.25		2.25		2.25
Operating expense per   share(c)	1.33			1.30		1.30		1.31		1.31		1.32		1.31		1.31
Return on average total   assets	1.47	%		1.50	%	1.02	%	1.46	%	1.12	%	1.43	%	1.50	%	1.15	%
Return on average   common equity	21.14			21.75		15.02		20.26		15.68		19.76		20.16		15.62
Net interest margin	3.95			4.04		4.04		4.17		4.17		4.25		4.34		4.34
Yield on average   earning assets	8.59			8.40		8.40		8.19		8.19		8.01		7.95		7.95
Cost of average paying   liabilities	5.23			4.93		4.93		4.57		4.57		4.33		4.16		4.16
Efficiency ratio(c)	58.07			56.91		56.91		58.83		58.83		58.45		58.29		58.29
Net profit margin	25.74			25.90		17.64		24.33		18.70		23.31		24.29		18.70
Common Stock Information (adjusted for stock dividends)
Book value per common   share	$11.62			$11.06		$11.06		$10.86		$10.86		$10.70		$10.77		$10.77
Dividends paid per   share	0.220			0.210		0.210		0.210		0.210		0.210		0.190		0.190
Per share price:
High	31.25			34.05		34.05		33.22		33.22		40.24		42.62		42.62
Low	26.56			26.61		26.61		22.74		22.74		31.96		34.89		34.89
Close	28.94			26.75		26.75		30.77		30.77		33.70		35.36		35.36
Outstanding shares at   end of period	137,029			136,980		136,980		137,574		137,574		137,967		138,475		138,475
Number of shares used   to compute:
Basic earnings per share	136,965			137,206		137,206		137,832		137,832		137,982		138,793		138,793
Diluted earnings per   share	138,268			138,572		138,572		139,025		139,025		139,400		140,264		140,264
(a)Restated to include "pooling-of-interests" transactions:Grand Premier Financial, Inc. acquired April 1, 2000 and Merchants Bancorp, Inc,     acquired February 11, 2000.
(b)Cash basis earnings per share excludes the effect of amortization of intangibles.
(c)Excludes non-recurring items.

Consolidated Key Financial Data(a)
[Amounts in thousands,			2ndQuarter				1st Quarter						3rd Quarter
except per share data]			2000				2000						1999
(Unaudited)	3rdQuarter		Excluding		2ndQuarter		Excluding		1st Quarter		4th Quarter		Excluding		3rd Quarter
Summary Income   Statement	2000		Merger Charges		2000	Merger Charges			2000		1999	Merger Charges			1999
Taxable equivalent net   interest income	$201,967		$201,922		$201,922		$197,573		$197,573		$200,857		$205,083		$205,083
Interest income	433,340		413,142		413,142		381,496		381,496		372,855		369,941		369,941
Interest expense	237,329		217,213		217,213		189,880		189,880		178,120		170,973		170,973
Net interest income	196,011		195,929		195,929		191,616		191,616		194,735		198,968		198,968
Provision for credit   losses(operating)	8,599		8,970		8,970		10,632		10,632		12,870		8,358		8,358
Provision for credit   losses (merger related)	- -		- -		8,000		- -		4,000		- -		- -		- -
Other income:
Mortgage banking   revenues-net	45,020		44,840		44,840		42,843		42,843		49,896		47,127		47,127
Investment management   & trust revenues	21,340		21,842		21,842		21,961		21,961		20,459		20,220		20,220
Deposit account   revenues	20,751		20,551		20,551		19,817		19,817		20,424		20,014		20,014
Insurance sales   commissions	5,984		5,636		5,636		6,478		6,478		5,699		6,160		6,160
Other	22,120		20,894		20,894		22,045		22,045		16,811		16,746		16,746
Total other income	115,215		113,763		113,763		113,144		113,144		113,289		110,267		110,267
Securities gains/(losses	4		10		10		(433	)	(433	)	(209	)	8		8
Securities gains/(losses)    (merger related)	- -		- -		(5,300	)	- -		(6,125	)	- -		- -		- -
Total	115,219		113,773		108,473		112,711		106,586		113,080		110,275		110,275
Other expense:
Salaries and employee   benefits	94,540		92,356		92,356		96,510		96,510		93,704		95,921		95,921
Occupancy and equipment   expense	27,824		27,022		27,022		26,707		26,707		28,221		26,407		26,407
Amortization of good-    will & intangibles	4,600		4,755		4,755		4,770		4,770		4,873		4,972		4,972
Other	57,222		55,525		55,525		54,807		54,807		56,819		56,517		56,517
Total other expense	184,186		179,658		179,658		182,794		182,794		183,617		183,817		183,817
Merger charges	-		-		26,000		-		16,000		-		-		26,000
Total	184,186		179,658		205,658		182,794		198,794		183,617		183,817		209,817
Income before income   taxes	118,445		121,074		81,774		110,901		84,776		111,328		117,068		91,068
Income taxes	36,791		39,319		39,319		35,294		35,294		38,090		40,483		40,483
Income taxes applicable   to merger charges)	- -		- -		(13,230	)	- -		(8,619	)	- -		- -		(8,400	)
Net income	$81,654		$81,755		$55,685		$75,607		$58,101		$73,238		$76,585		$58,985
Dividend on preferred   stock	(185	)	(185	)	(185	)	(185	)	(185	)	(185	)	(185	)	(185	)
Net Income Available to   Common Shareholders	$81,469		$81,570		$55,500		$75,422		$57,916		$73,053		$76,400		$58,800

(Unaudited)	3rd Quarter 2000					2nd Quarter 2000					1st Quarter 2000
(Yields and rates are on a fully taxable-	Ending		Average	Yield/		Ending		Average	Yield/		Ending		Average	Yield/
equivalent basis, dollars in millions)	Balance		Balance	Rate		Balance		Balance	Rate		Balance		Balance	Rate
Assets:
Loans:
Commercial loans and leases	$9,111		$8,955	9.17	%	$8,883		$8,788	8.99	%	$8,603		$8,389	8.71	%
Consumer loans	5,178		4,898	9.16		4,715		4,470	9.07		4,190		3,897	9.06
Residential mortgages	1,328		1,624	7.93		1,645		1,907	7.79		1,927		1,908	7.71
Total loans	15,617		15,477	9.03		15,243		15,165	8.86		14,720		14,194	8.67
Securities	4,006		3,792	6.85		3,807		3,860	6.59		3,858		3,880	6.46
Mortgages held-for-sale	935		1,071	8.37		1,229		989	8.43		913		883	8.12
Other interest-earning assets	45		32	6.43		21		32	6.37		40		45	5.63
Total earning assets	20,603		20,372	8.59		20,300		20,046	8.40		19,531		19,002	8.19
Unrealized gain/(loss) on S.A.F.S	(52)		(80)			(85)		(106)			(101)		(109)
Allowance for credit losses	(224)		(224)			(220)		(217)			(211)		(209)
Cash and due from banks	654		604			675		591			603		596
Goodwill and other intangibles	138		141			143		145			147		150
Mortgage servicing rights	293		290			267		297			287		285
Other assets	1,107		1,076			1,123		1,047			1,045		996
Total assets	$22,519		$22,179			$22,203		$21,803			$21,301		$20,711
Liabilities and shareholders' equity:
Savings deposits	$6,145		$6,146	3.53	%	$6,087		$6,192	3.32	%	$6,358		$6,344	3.24	%
Negotiable and foreign deposits	2,254		2,262	6.65		2,346		1,954	6.36		1,368		1,350	5.59
Consumer time deposits	6,120		6,099	5.72		6,036		6,001	5.37		5,903		5,842	5.16
Total interest-bearing deposits	14,519		14,507	4.94		14,469		14,147	4.61		13,629		13,536	4.30
Federal funds purchased and
repurchase agreements	1,764		1,516	5.93		1,540		1,419	5.68		1,449		1,078	5.04
Other borrowed funds	1,586		1,662	6.60		1,709		1,890	6.45		1,909		1,897	5.94
Subordinated debt	350		277	7.40		200		170	6.93		100		100	6.74
Floating rate subordinated securities	100		100	7.76		100		100	7.43		100		100	7.25
Total interest-bearing funds	18,319		18,062	5.23		18,018		17,726	4.93		17,187		16,711	4.57
Demand deposits	2,239		2,255			2,337		2,261			2,282		2,199
Other liabilities	359		311			323		329			328		314
Shareholders' equity:
Preferred stock, common stock, surplus
and retained earnings	1,644		1,614			1,591		1,568			1,583		1,563
Net unrealized gain/(loss) on S.A.F.S	(42)		(63)			(66)		(81)			(79)		(76)
Total liabilities and
shareholders' equity	$22,519		$22,179			$22,203		$21,803			$21,301		$20,711
Selected Ratios
Net interest spread				3.36	%				3.47	%				3.62	%
Net interest income as a percent
of average earning assets				3.95	%				4.04	%				4.17	%
Total equity to total assets	7.11	%				6.87	%				7.06	%
Tangible equity to tangible assets	6.54	%				6.26	%				6.41	%
Memoranda
Core deposits	14,504		14,500			14,460		14,454			14,543		14,385
Total deposits	16,758		16,762			16,806		16,408			15,911		15,735
Mortgage servicing portfolio	15,367					14,154					15,358
Mortgage banking full-time equivalent   employees	2,745					2,691					2,736
Total full-time equivalent employees	8,799					8,676					8,775

(Unaudited)	4th Quarter 1999					3rd Quarter 1999
(Yields and rates are on a fully taxable-	Ending		Average	Yield/		Ending		Average	Yield/
equivalent basis, dollars in millions)	Balance		Balance	Rate		Balance		Balance	Rate
Assets:
Loans:
Commercial loans and leases	$8,197		$7,910	8.52	%	$7,773		$7,588	8.44	%
Consumer loans	3,823		3,606	8.97		3,485		3,382	8.94
Residential mortgages	1,882		1,802	7.65		1,771		2,142	7.72
Total loans	13,902		13,318	8.52		13,029		13,112	8.45
Securities	3,944		4,071	6.45		4,026		4,198	6.60
Mortgages held-for-sale	901		1,248	8.02		1,452		1,404	7.53
Other interest-earning assets	32		181	5.16		92		111	4.89
Total earning assets	18,779		18,818	8.01		18,599		18,825	7.95
Unrealized gain/(loss) on S.A.F.S	(97)		(71)			(58)		(41)
Allowance for credit losses	(206)		(208)			(207)		(206)
Cash and due from banks	679		647			625		667
Goodwill and other intangibles	151		154			156		159
Mortgage servicing rights	278		291			278		280
Other assets	1,016		871			849		769
Total assets	$20,600		$20,502			$20,242		$20,453
Liabilities and shareholders' equity:
Savings deposits	$6,272		$6,266	3.07	%	$6,211		$6,305	2.88	%
Negotiable and foreign deposits	1,351		1,295	5.34		1,190		1,176	4.92
Consumer time deposits	5,819		5,914	4.93		5,946		5,992	4.85
Total interest-bearing deposits	13,442		13,475	4.11		13,347		13,473	3.94
Federal funds purchased and
repurchase agreements	1,004		835	4.51		766		941	4.38
Other borrowed funds	1,820		1,796	5.67		1,788		1,687	5.53
Subordinated debt	100		100	6.74		100		100	6.74
Floating rate subordinated securities	100		100	7.03		100		100	6.32
Total interest-bearing funds	16,466		16,306	4.33		16,101		16,301	4.16
Demand deposits	2,330		2,360			2,314		2,358
Other liabilities	318		348			327		279
Shareholders' equity:
Preferred stock, common stock, surplus
and retained earnings	1,563		1,534			1,538		1,541
Net unrealized gain/(loss) on S.A.F.S	(77)		(46)			(38)		(26)
Total liabilities and
shareholders' equity	$20,600		$20,502			$20,242		$20,453
Selected Ratios
Net interest spread				3.68	%				3.79	%
Net interest income as a percent
of average earning assets				4.25	%				4.34	%
Total equity to total assets	7.21	%				7.41	%
Tangible equity to tangible assets	6.53	%				6.69	%
Memoranda
Core deposits	14,421		14,540			14,471		14,655
Total deposits	15,772		15,835			15,661		15,831
Mortgage servicing portfolio	14,726					15,113
Mortgage banking full-time equivalent   employees	2,778					2,951
Total full-time equivalent employees	8,884					9,202

(Unaudited)
Credit Quality	3rd Quarter 2000		2ndQuarter2000		1st Quarter 2000
Ending allowance for credit losses	$223.9		$219.7		$211.5
Nonperforming assets:
Nonaccrual	77.4		72.7		72.8
Renegotiated	1.4		1.7		1.8
Total impaired loans	78.8		74.4		74.6
Other real estate owned	12.1		9.1		7.3
Total nonperforming assets	90.9		83.5		81.9
Loans delinquent over 90 days	26.8		20.5		16.4
Gross charge-offs	11.6		17.6		16.3
Recoveries	6.9		8.8		6.4
Net charge-offs	4.7		8.8		9.9
Provision for credit losses	8.6		17.0		14.6
Key Ratios:
Allowance to loans	1.43	%	1.44	%	1.44	%
Allowance to impaired loans	284.38		295.28		283.35
Impaired loans to loans	0.50		0.49		0.51
Nonperforming assets to assets	0.40		0.38		0.38
90 days delinquent to loans	0.17		0.13		0.11
Net charge-offs to average loans	0.12		0.23		0.28

(Unaudited)
Credit Quality	4th Quarter 1999		3rd Quarter 1999
Ending allowance for credit losses	$206.3		$206.8
Nonperforming assets:
Nonaccrual	66.4		60.5
Renegotiated	2.2		2.2
Total impaired loans	68.6		62.7
Other real estate owned	8.5		7.0
Total nonperforming assets	77.1		69.7
Loans delinquent over 90 days	14.9		19.4
Gross charge-offs	19.0		12.4
Recoveries	5.6		7.8
Net charge-offs	13.4		4.6
Provision for credit losses	12.9		8.4
Key Ratios:
Allowance to loans	1.48	%	1.59	%
Allowance to impaired loans	300.68		330.04
Impaired loans to loans	0.49		0.48
Nonperforming assets to assets	0.37		0.34
90days delinquent to loans	0.11		0.15
Netcharge-offs to average loans	0.42		0.15

Consolidated Key Financial Data(a)
[Amounts in thousands,     except per share data] (Unaudited) Key Statistics		Excluding Merger Charges YTD Sept 30, 2000		YTD Sept 30, 2000		Excluding Merger Charges YTD Sept 30, 1999		YTD Sept 30, 1999
Net income	$	239,016	$	195,440	$	223,480	$	205,880
Basic earnings per share		$1.74		$1.42		$1.60		$1.47
Diluted earnings per share		1.72		1.41		1.58		1.46
Cash basis earnings per share(b)		1.81		1.50		1.68		1.55
Operating revenue per share(c)		6.81		6.81		6.61		6.61
Operating expense per share(c)		3.94		3.94		3.95		3.95
Return on average total assets		1.48	%	1.21	%	1.45	%	1.33	%
Return on average common equity		20.77		17.33		19.59		18.09
Net interest margin		4.05		4.05		4.21		4.21
Yield on average earning assets		8.40		8.40		7.82		7.82
Cost of average paying liabilities		4.92		4.92		4.15		4.15
Efficiency ratio(c)		57.93		57.93		59.70		59.70
Net profit margin		25.33		20.71		23.98		22.09
Common Stock Information (adjusted for stock dividends)
Book value per common share	$	11.62	$	11.62	$	10.77	$	10.77
Dividends paid per share		0.640		0.640		0.552		0.552
Per share price:
High		34.05		34.05		44.62		44.62
Low		22.74		22.74		34.89		34.89
Close		28.94		28.94		35.36		35.36
Outstanding shares at end of period		137,029		137,029		138,475		138,475
Number of shares used to compute:
Basic earnings per share		137,333		137,333		139,349		139,349
Diluted earnings per share		138,620		138,620		140,998		140,998
(a)Restated to include "pooling-of-interests" transactions: Grand Premier Financial, Inc., acquired April 1, 2000 and Merchants Bancorp, Inc., acquired February 11, 2000.
(b)Cash basis earnings per share excludes the effect of amortization of intangibles.
(c)Excludes non-recurring items.

Consolidated Key Financial Data(a)
[Amounts in thousands     except per share data] (Unaudited) Summary Income Statement		Excluding Merger Charges YTD Sept 30, 2000		YTD Sept 30, 2000		Excluding Merger Charges YTD Sept 30, 1999		YTD Sept 30, 1999
Taxable equivalent net interest income	$	601,460	$	601,460	$	596,259	$	596,259
Interest income		1,227,978		1,227,978		1,088,508		1,088,508
Interest expense		644,423		644,423		510,125		510,125
Net interest income		583,555		583,555		578,383		578,383
Provision for credit losses (operating)		28,201		28,201		22,518		22,518
Provision for credit losses (merger related)		-		12,000		-		-
Other income:
Mortgage banking revenues - net		132,703		132,703		142,400		142,400
Investment management & trust revenues		65,142		65,142		60,183		60,183
Deposit account revenues		61,119		61,119		57,730		57,730
Insurance sales commissions		18,098		18,098		18,440		18,440
Other		65,059		65,059		56,824		56,824
Total other income		342,121		342,121		335,577		335,577
Securities gains/(losses)		(418	)	(418	)	8,072		8,072
Securities gains/(losses) (merger related)		-		(11,425	)	-		-
Total		341,703		330,278		343,649		343,649
Other expense:
Salaries and employee benefits		283,406		283,406		287,520		287,520
Occupancy and equipment expense		81,554		81,554		79,123		79,123
Amortization of goodwill & intangibles		14,124		14,124		15,055		15,055
Other		167,554		167,554		174,564		174,564
Total other expense		546,638		546,638		556,262		556,262
Merger charges		-		42,000		-		26,000
Total		546,638		588,638		556,262		582,262
Income before income taxes		350,419		284,994		343,252		317,252
Income taxes		111,403		111,403		119,772		119,772
Income taxes (applicable to merger   charges)		- -		(21,849	)	- -		(8,400	)
Net income		$239,016		$195,440		$223,480		$205,880
Preferred dividend		(555	)	(555	)	(555	)	(555	)
Net income available to common	$	238,461	$	194,885	$	222,925	$	205,325

Average Balances, Yields and Rates (a)
		Nine Months ended September 30,
(Yields and rates are on a fully taxable-		2000					1999
equivalent basis, dollars in thousands)		Average		Average			Average		Average
(Unaudited)		Balance		Rate			Balance		Rate
Assets:
Loans:
Commercial loans and leases	$	8,711,374		8.96	%	$	7,257,535		8.40	%
Consumer loans		4,423,497		9.10			3,132,960		8.94
Residential mortgages		1,812,401		7.81			2,104,124		7.66
Total loans		14,947,272		8.86			12,494,619		8.41
Securities		3,843,760		6.64			4,581,105		6.58
Mortgages held-for-sale		981,256		8.32			1,713,147		7.01
Other interest-earning assets		36,129		6.08			120,611		4.96
Total earning assets		19,808,417		8.40			18,909,482		7.82
Unrealized gain/(loss) on S.A.F.S		(98,609	)				1,218
Allowance for credit losses		(216,316	)				(203,173	)
Cash and due from banks		597,187					684,110
Goodwill and other intangibles		145,429					162,269
Mortgage servicing rights		290,685					266,316
Other assets		1,039,811					798,373
Total assets	$	21,566,604				$	20,618,595
Liabilities and shareholders' equity:
Savings deposits	$	6,227,118		3.36	%	$	6,192,120		2.82	%
Negotiable and foreign deposits		1,856,979		6.29			1,422,264		4.87
Consumer time deposits		5,980,776		5.42			6,054,000		4.96
Total interest-bearing deposits		14,064,873		4.63			13,668,384		3.98
Federal funds purchased and
repurchase agreements		1,338,490		5.60			1,079,562		4.36
Other borrowed funds		1,815,524		6.32			1,473,265		5.28
Subordinated debt		182,663		7.12			100,000		6.74
Floating rate subordinated securities		100,000		7.48			100,000		6.20
Total interest-bearing funds		17,501,550		4.92			16,421,211		4.15
Demand deposits		2,238,409					2,363,692
Other liabilities		318,265					310,950
Shareholders' equity:
Preferred stock, common stock, surplus
and retained earnings		1,581,755					1,521,581
Net unrealized gain/(loss) on S.A.F.S		(73,375	)				1,161
Total liabilities and
shareholders' equity	$	21,566,604				$	20,618,595
Net Interest Spread				3.48	%				3.67	%
Net Interest Income as a Percentage      of Average Earning Assets				4.05	%				4.21	%

Credit Loss Reserve Summary
(Amounts in thousands) (Unaudited)
		Q3-00		Q2-00		Q1-00		Q4-99		Q3-99
Beginning Reserve	$	219,680	$	211,540	$	206,279	$	206,819	$	203,091
Provision		8,599		16,970		14,632		12,870		8,358
Net Charge-offs		4,739		8,830		9,955		13,410		4,630
Other		373		-		584		-		-
Ending Reserve	$	223,913	$	219,680	$	211,540	$	206,279	$	206,819
Net Loan Charge-offs
Commercial Loans	$	2,029	$	5,889	$	6,260	$	8,727	$	771
Consumer Loans		2,534		2,710		3,166		3,624		3,248
Real Estate-Mortgages		176		231		529		1,059		611
Total Net Loan Charge-offs	$	4,739	$	8,830	$	9,955	$	13,410	$	4,630
Net Charge-off Ratio		0.12	%	0.23	%	0.28	%	0.42	%	0.15	%

Selected Mortgage Banking Information
(Unaudited)				For the Quarter Ended
		09/30/2000		06/30/2000		03/31/2000		12/31/1999		09/30/1999
Net mortgage banking revenue (thousands)	$	45,020	$	44,840	$	42,843	$	49,896	$	47,127
Mortgage originations (millions)	$	2,400	$	2,330	$	1,960	$	2,216	$	2,739
Retail originations as a percentage of mortgage originations		55	%	59	%	55	%	56	%	55	%
Home purchases as a percentage of mortgage originations		77	%	79	%	72	%	72	%	73	%
Mortgage originations percentage by loan type:
Conventional loans		65	%	62	%	60	%	56	%	58	%
FHA/VA loans		27	%	30	%	30	%	34	%	33	%
Sub-prime loans		8	%	8	%	10	%	10	%	9	%
Mortgage loan sales (millions)	$	2,335	$	2,253	$	1,819	$	2,349	$	2,804
Loans serviced for others (millions)	$	15,367	$	14,154	$	15,358	$	14,726	$	15,113
Mortgage servicing rights (millions)	$	293	$	267	$	287	$	278	$	278
Servicing portfolio weighted average coupon		7.57	%	7.46	%	7.54	%	7.45	%	7.41	%
Number of branch offices/states		147/31		152/31		149/31		147/32		152/31
Mortgage Servicing Rights
Balance at beginning of period	$	267,159	$	286,707	$	277,544	$	277,642	$	274,798
Additions		74,798		40,075		51,934		52,832		54,450
Sales		(41,372	)	(52,036	)	(34,461	)	(43,051	)	(38,181	)
Amortization		(7,625	)	(7,587	)	(8,310	)	(9,879	)	(13,425	)
Balance at end of period	$	292,960	$	267,159	$	286,707	$	277,544	$	277,642
Estimated fair value of mortgage servicing rights	$	320,000	$	309,000	$	343,000	$	323,000	$	340,000