EXHIBIT 99.2
OLD KENT FINANCIAL CORPORATION
FIVE YEAR SUMMARY OF SELECTED FINANCIAL DATA
DECEMBER 31 (dollars
in thousands,
except per share data) 1999 1998 1997 1996 1995
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FOR THE YEAR
Net interest income $773,118 $740,203 $733,774 $686,067 $661,074
Provision for credit
losses 35,388 52,930 59,673 40,765 25,124
Net income 279,118 261,138 247,831 211,812 204,565
Net income available to
common shareholders 278,378 260,398 247,091 210,872 203,459
Cash dividends 108,769 106,328 89,892 80,471 73,438
AVERAGE FOR THE YEAR
Assets $20,589,276 $20,202,700 $19,484,961 $18,086,023 $17,122,363
Deposits 15,982,442 15,627,803 15,378,890 14,665,235 13,927,321
Loans 12,702,217 11,741,746 11,817,598 10,745,609 9,710,283
Total interest-earning
assets 18,886,406 18,613,707 18,040,366 16,809,995 15,978,810
Long-term debt 200,000 200,000 191,781 100,000 12,603
Total shareholders'
equity 1,514,022 1,581,486 1,606,991 1,528,139 1,441,885
AT YEAR-END
Assets $20,600,287 $21,148,686 $20,079,905 $18,801,964 $17,635,721
Deposits 15,772,245 16,518,243 15,319,440 15,225,484 14,065,361
Loans 13,901,663 11,787,940 12,007,193 11,389,512 10,066,081
Long-term debt 200,000 200,000 200,000 200,000 100,000
Total shareholders'
equity 1,485,764 1,576,325 1,646,083 1,559,448 1,541,555
PER COMMON SHARE (IN
DOLLARS)*
Basic earnings per share $2.00 $1.81 $1.65 $1.38 $1.32
Diluted earnings per
share 1.98 1.79 1.63 1.37 1.31
Cash dividends 0.762 0.655 0.581 0.523 0.479
Book value at year-end 10.70 11.11 11.04 10.42 10.06
Dividend payout ratio 38.5% 36.6% 35.6% 38.2% 36.6%
PERFORMANCE RATIOS
Return on average equity 18.50% 16.56% 15.47% 13.88% 14.26%
Return on average assets 1.36 1.29 1.27 1.17 1.19
Average equity to
average assets 7.35 7.83 8.25 8.45 8.42
Yield on average
interest-earning assets 7.86 7.99 8.18 8.11 8.16
Cost of average
interest-bearing
liabilities 4.20 4.53 4.67 4.63 4.61
Average net interest
spread 3.66 3.46 3.51 3.48 3.55
Average net interest
margin 4.22 4.09 4.17 4.17 4.24
CAPITAL RATIOS AT YEAR-
END
Equity to assets 7.21% 7.45% 8.20% 8.29% 8.74%
Leverage ratio 7.47 7.22 7.74 7.55 8.03
Risk-based capital
ratio--Tier 1 9.48 10.04 10.90 10.75 11.94
Risk-based capital
ratio--Tiers 1 & 2 11.33 11.94 12.82 12.69 13.98
CREDIT QUALITY RATIOS
Allowance for credit
losses to total loans 1.48% 1.70% 1.64% 1.75% 2.02%
Impaired loans to total
loans 0.49 0.66 0.63 0.55 0.59
Nonperforming assets to
total assets 0.37 0.41 0.43 0.39 0.43
Allowance to impaired
loans 301 260 262 318 340
Net charge-offs to
average loans 0.23 0.42 0.48 0.44 0.18
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* SHARE DATA HAS BEEN ADJUSTED FOR STOCK DIVIDENDS AND SPLITS.