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EXHIBIT 99.1
ITEM 6. SELECTED FINANCIAL DATA (DECEMBER 31, 2004)
5-YEAR CONSOLIDATED SUMMARY OF FINANCIAL RESULTS
(DOLLARS IN THOUSANDS, EXCEPT RATIOS AND PER-SHARE DATA)
For the Year
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2004 2003 2002 2001 2000
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SUMMARY OF INCOME
Interest income .......................... $ 493,643 $ 435,531 $ 469,288 $ 518,680 $ 519,661
Interest expense ......................... 135,994 131,094 158,219 227,962 243,874
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Net interest income ...................... 357,649 304,437 311,069 290,718 275,787
Provision for loan losses ................ 4,717 9,705 11,900 14,585 15,024
Other income ............................. 138,864 134,370 114,012 102,057 76,717
Other expenses ........................... 277,515 233,651 226,046 220,292 188,159
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Income before income taxes ............... 214,281 195,451 187,135 157,898 149,321
Income taxes ............................. 64,673 59,084 56,181 46,136 44,224
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Net income ............................... $ 149,608 $ 136,367 $ 130,954 $ 111,762 $ 105,097
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PER-SHARE DATA (1)
Net income (basic) ....................... $ 1.00 $ 0.97 $ 0.93 $ 0.79 $ 0.75
Net income (diluted) ..................... 0.99 0.96 0.92 0.78 0.75
Cash dividends ........................... 0.518 0.475 0.425 0.385 0.344
RATIOS
Return on average assets ................. 1.45% 1.55% 1.66% 1.49% 1.50%
Return on average equity ................. 13.98 15.23 15.61 14.33 15.58
Return on average equity (tangible) (2) .. 18.58 17.33 17.25 15.97 16.19
Net interest margin ...................... 3.83 3.82 4.35 4.27 4.31
Efficiency ratio ......................... 55.90 54.00 52.70 55.50 53.00
Average equity to average assets ......... 10.30 10.20 10.60 10.40 9.60
Dividend payout ratio .................... 51.80 49.00 45.70 48.70 45.90
PERIOD-END BALANCES
Total assets ............................. $11,160,148 $9,768,669 $8,388,915 $7,771,598 $7,365,487
Loans, net of unearned income ............ 7,584,547 6,159,994 5,317,068 5,373,020 5,374,659
Deposits ................................. 7,895,524 6,751,783 6,245,528 5,986,804 5,502,703
Federal Home Loan Bank advances and
long-term debt ........................ 684,236 568,730 535,555 456,802 559,503
Shareholders' equity ..................... 1,244,087 948,317 864,879 812,341 731,854
AVERAGE BALANCES
Total assets ............................. $10,344,768 $8,803,285 $7,901,398 $7,520,763 $7,020,039
Loans, net of unearned income ............ 6,901,452 5,589,663 5,381,950 5,341,497 5,131,651
Deposits ................................. 7,285,134 6,505,371 6,052,667 5,771,089 5,245,019
Federal Home Loan Bank advances and
long-term debt ........................ 637,654 566,437 476,415 500,162 476,590
Shareholders' equity ..................... 1,069,904 895,616 839,111 779,706 674,487
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(1) Adjusted for stock dividends and stock splits.
(2) Net income divided by average shareholders' equity, net of goodwill and
intangible assets.
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