EXHIBIT 25.1
-----------------------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------
FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT
OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A
TRUSTEE PURSUANT TO SECTION 305(b)(2) __________
--------------------
BANKERS TRUST COMPANY
(Exact name of trustee as specified in its charter)
NEW YORK 13-494127
(Jurisdiction of Incorporation or (I.R.S. Employer
organization if not a U.S. national bank) Identification no.)
FOUR ALBANY STREET
NEW YORK, NEW YORK 10006
(Address of principal (Zip Code)
executive offices)
BANKERS TRUST COMPANY
LEGAL DEPARTMENT
130 LIBERTY STREET, 31ST FLOOR
NEW YORK, NEW YORK 10006
(212) 250-2201
(Name, address and telephone number of agent for service)
--------------------------------------
OLD KENT FINANCIAL CORPORATION OLD KENT CAPITAL TRUST I
(Exact name of Registrant as specified (Exact name of Registrant as specified
in its charter) in its charter)
MICHIGAN 38-1986608 DELAWARE 38-6689514
(State or other (I.R.S. employer (State or other (I.R.S. employer
jurisdiction of Identification no.) jurisdiction of Identification no.)
incorporation or incorporation or
organization) organization)
ONE VANDENBERG CENTER C/O OLD KENT FINANCIAL CORPORATION
GRAND RAPIDS, MICHIGAN 49503 ONE VANDENBERG CENTER
(Address, including zip code GRAND RAPIDS, MICHIGAN 49503
of principal executive offices) (Address, including zip code of
principal executive offices)
CAPITAL SECURITIES OF OLD KENT CAPITAL TRUST I
FLOATING RATE JUNIOR SUBORDINATED DEBENTURES OF
OLD KENT FINANCIAL CORPORATION
OLD KENT CORPORATION GUARANTEE WITH RESPECT TO CAPITAL SECURITIES
(Title of the indenture securities)
ITEM 1. GENERAL INFORMATION.
Furnish the following information as to the trustee.
(a) Name and address of each examining or supervising authority
to which it is subject.
NAME ADDRESS
Federal Reserve Bank (2nd District) New York, NY
Federal Deposit Insurance Corporation Washington, D.C.
New York State Banking Department Albany, NY
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
ITEM 2. AFFILIATIONS WITH OBLIGOR.
If the obligor is an affiliate of the Trustee, describe each such
affiliation.
None.
ITEM 3. -15. NOT APPLICABLE
ITEM 16. LIST OF EXHIBITS.
EXHIBIT 1 - Restated Organization Certificate of Bankers Trust
Company dated August 7, 1990, Certificate of
Amendment of the Organization Certificate of
Bankers Trust Company dated June 21, 1995 -
Incorporated herein by reference to Exhibit 1
filed with Form T-1 Statement, Registration No.
33-65171, and Certificate of Amendment of the
Organization Certificate of Bankers Trust Company
dated March 20, 1996, copy attached.
EXHIBIT 2 - Certificate of Authority to commence business -
Incorporated herein by reference to Exhibit 2
filed with Form T-1 Statement, Registration No.
33-21047.
EXHIBIT 3 - Authorization of the Trustee to exercise corporate
trust powers - Incorporated herein by reference to
Exhibit 2 filed with Form T-1 Statement,
Registration No. 33-21047.
-2-
EXHIBIT 4 - Existing By-Laws of Bankers Trust Company, as
amended on February 18, 1997, Incorporated herein
by reference to Exhibit 4 filed with Form T-1
Statement, Registration No. 333-24509-01.
EXHIBIT 5 - Not applicable.
EXHIBIT 6 - Consent of Bankers Trust Company required by
Section 321(b) of the Act. - Incorporated herein
by reference to Exhibit 4 filed with Form T-1
Statement, Registration No. 22-18864.
EXHIBIT 7 - A copy of the latest report of condition of
Bankers Trust Company dated as of December 31,
1996.
EXHIBIT 8 - Not Applicable.
EXHIBIT 9 - Not Applicable.
-3-
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as
amended, the trustee, Bankers Trust Company, a corporation organized and
existing under the laws of the State of New York, has duly caused this
statement of eligibility to be signed on its behalf by the undersigned,
thereunto duly authorized, all in The City of New York, and State of New
York, on the 21st day of April, 1997.
BANKERS TRUST COMPANY
By: /S/ KEVIN WEEKS
Kevin Weeks
Assistant Treasurer
-4-
Legal Title of Bank: Bankers Trust Company Call Date: 12/31/96 ST-BK: 36-4840 FFIEC 031
Address: 130 Liberty Street Vendor ID: D CERT: 00623 Page RC-1
City, State ZIP: New York, NY 10006 11
FDIC Certificate No.: 0 - 0 - 6 - 2 - 3
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS DECEMBER 31, 1996
All schedules are to be reported in thousands of dollars. Unless
otherwise indicated, reported the amount outstanding as of the last business
day of the quarter.
SCHEDULE RC--BALANCE SHEET
C400
Dollar Amounts in Thousands RCFD Bil Mil Thou
ASSETS / / / / / / / / / / /
1. Cash and balances due from depository institutions (from / / / / / / / / / / /
Schedule RC-A): / / / / / / / / / / /
a. Noninterest-bearing balances and currency coin<F1>. . . . 0081 1,545,000 1.a.
b. Interest-bearing balances<F2> . . . . . . . . . . . . . . 0071 2,494,000 1.b.
2. Securities: / / / / / / / / / / /
a. Held-to-maturity securities (from Schedule RC-B, / / / / / / / / / / /
column A) . . . . . . . . . . . . . . . . . . . . . . . . 1754 0 2.a.
b. Available-for-sale securities (from Schedule RC-B, / / / / / / / / / / /
column D) . . . . . . . . . . . . . . . . . . . . . . . . 1773 4,368,000 2.b.
3. Federal funds sold and securities purchased under agreements / / / / / / / / / / /
to resell in domestic offices of the bank and of its Edge / / / / / / / / / / /
and Agreement subsidiaries, and in IBFs: / / / / / / / / / / /
a. Federal funds sold . . . . . . . . . . . . . . . . . . . 0276 3,651,000 3.a.
b. Securities purchased under agreements to resell . . . . . 0277 3,230,000 3.b.
4. Loans and lease financing receivables: / / / / / / / / / / /
a. Loans and leases, net of unearned income (from Schedule / / / / / / / / / / /
RC-C) . . . . . . . . . . . . . . . . . . . . . . . . . . RCFD 2122 27,239,000 / / / / / / / / / / / 4.a.
b. LESS: Allowance for loan and lease losses. . . . . . . . RCFD 3123 917,000 / / / / / / / / / / / 4.b.
c. LESS: Allocated transfer risk reserve. . . . . . . . . . RCFD 3128 0 / / / / / / / / / / / 4.c.
d. Loans and lease, net of unearned income, / / / / / / / / / / /
allowance, and reserve (item 4.a minus 4.b and 4.c) . . . 2125 28,889,000 4.d.
5. Assets held in trading accounts . . . . . . . . . . . . . . 3545 38,272,000 5.
6. Premises and fixed assets (including capitalized leases) . . 2145 914,000 6.
7. Other real estate owned (from Schedule RC-M) . . . . . . . . 2150 213,000 7.
8. Investments in unconsolidated subsidiaries and associated / / / / / / / / / / /
companies (from Schedule RC-M) . . . . . . . . . . . . . . . 2130 184,000 8.
9. Customers' liability to this bank on acceptances outstanding 2155 597,000 9.
10. Intangible assets (from Schedule RC-M) . . . . . . . . . . . 2143 17,000 10.
11. Other assets (from Schedule RC-F) . . . . . . . . . . . . . 2160 6,056,000 11.
12. Total assets (sum of items 1 through 11) . . . . . . . . . . 2170 90,430,000 12.
<FN>
- ---------------------
<F1> Includes cash items in process of collection and unposted debits.
<F2> Includes time certificates of deposit not held in trading accounts.
</FN>
Legal Title of Bank: Bankers Trust Company Call Date: 12/31/96 ST-BK: 36-4840 FFIEC 031
Address: 130 Liberty Street Vendor ID: D CERT: 00623 Page RC-1
City, State ZIP: New York, NY 10006 12
FDIC Certificate No.: 0 - 0 - 6 - 2 - 3
SCHEDULE RC--CONTINUED
Dollar Amounts in Thousands / / / / / / Bil Mil Thou
LIABILITIES / / / / / / / / / / / / / / / / / / /
13. Deposits: / / / / / / / / / / / / / / / / / / /
a. In domestic offices (sum of totals of / / / / / / / / / / / / / / / / / / /
colums A and C from Schedule RC-E, part I) RCON 2200 11,985,000 13.a.
(1) Noninterest-bearing<F1> . . . . . . RCON 6631 2,734,000 / / / / / / / / / / / / / / / / / / / 13.a.(1)
(2) Interest-bearing . . . . . . . . . . RCON 6636 6,657,000 / / / / / / / / / / / / / / / / / / / 13.a.(2)
b. In foreign offices, Edge and Agreement / / / / / / / / / / / / / / / / / / /
subsidiaries, and IBFs (from Schedule / / / / / / / / / / / / / / / / / / /
RC-E part II) RCFN 2200 21,619,000 13.b.
(1) Non-interest bearing . . . . . . . . RCFN 6631 654,000 / / / / / / / / / / / / / / / / / / / 13.b.(1)
(2) Interest-bearing . . . . . . . . . . RCFN 6636 22,731,000 / / / / / / / / / / / / / / / / / / / 13.b.(2)
14. Federal funds purchased and securities sold / / / / / / / / / / / / / / / / / / /
under agreements to repurchase in domestic / / / / / / / / / / / / / / / / / / /
offices of the bank and of its Edge and / / / / / / / / / / / / / / / / / / /
Agreement subsidiaries, and in IBFs: / / / / / / / / / / / / / / / / / / /
a. Federal funds purchased . . . . . . . . RCFD 0278 6,560,000 14.a.
b. Securities sold under agreements to / / / / / / / / / / / / / / / / / / /
repurchase . . . . . . . . . . . . . . . RCFD 0279 120,000 14.b.
15. a. Demand notes issued to the U.S. Treasury RCON 2840 0 15.a.
b. Trading liabilities. . . . . . . . . . . RCFD 3548 19,172,000 15.b.
16. Other borrowed money: / / / / / / / / / / / / / / / / / / /
a. With original maturity of one year or / / / / / / / / / / / / / / / / / / /
less . . . . . . . . . . . . . . . . . . RCFD 2332 15,909,000 16.a.
b. With original maturity of more than one / / / / / / / / / / / / / / / / / / /
year . . . . . . . . . . . . . . . . . . RCFD 2333 3,097,000 16.b.
17. Mortgage indebtedness and obligations under / / / / / / / / / / / / / / / / / / /
capitalized leases . . . . . . . . . . . . RCFD 2910 31,000 17.
18. Bank's liability on acceptances executed and / / / / / / / / / / / / / / / / / / /
outstanding . . . . . . . . . . . . . . . . RCFD 2920 597,000 18.
19. Subordinated notes and debentures . . . . . RCFD 3200 1,229,000 19.
20. Other liabilities (from Schedule RC-G). . . RCFD 2930 5,235,000 20.
21. Total liabilities (sum of items 13 / / / / / / / / / / / / / / / / / / /
through 20) . . . . . . . . . . . . . . . . RCFD 2948 85,554,000 21.
/ / / / / / / / / / / / / / / / / / /
22. Limited-life preferred stock and related / / / / / / / / / / / / / / / / / / /
surplus . . . . . . . . . . . . . . . . . . RCFD 3282 0 22.
EQUITY CAPITAL / / / / / / / / / / / / / / / / / / /
23. Perpetual preferred stock and related / / / / / / / / / / / / / / / / / / /
surplus . . . . . . . . . . . . . . . . . . RCFD 3838 600,000 23.
24. Common stock . . . . . . . . . . . . . . . RCFD 3230 1,001,000 24.
25. Surplus (exclude all surplus related to / / / / / / / / / / / / / / / / / / /
preferred stock) . . . . . . . . . . . . . RCFD 3839 540,000 25.
26. a. Undivided profits and capital reserves . RCFD 3632 3,131,000 26.a.
b. Net unrealized holding gains (losses) / / / / / / / / / / / / / / / / / / /
on available-for-sale securities . . . . RCFD 8434 ( 14,000) 26.b.
27. Cumulative foreign currency translation / / / / / / / / / / / / / / / / / / /
adjustments . . . . . . . . . . . . . . . . RCFD 3284 ( 382,000) 27.
28. Total equity capital (sum of items 23 / / / / / / / / / / / / / / / / / / /
through 27). . . . . . . . . . . . . . . . RCFD 3210 4,876,000 28.
29. Total liabilities, limited-life preferred / / / / / / / / / / / / / / / / / / /
stock, and equity capital (sum of items / / / / / / / / / / / / / / / / / / /
21, 22, and 28) . . . . . . . . . . . . . . RCFD 3300 90,430,000 29.
Memorandum Number
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the
statement below that best describes the most
comprehensive level of auditing work performed for
the bank by independent external auditors as of any
date during 1995. . . . . . . . . . . . . . . . . . . RCFD 6724 N/A M
1 = Independent audit of the bank conducted in accordance 4 = Directors' examination of the bank performed by other
with generally accepted auditing standards by a certified external auditors (may be required by state chartering
public accounting firm which submits a report on the bank authority)
2 = Independent audit of the bank's parent holding company 5 = Review of the bank's financial statements by external
conducted in accordance with generally accepted auditing auditors
standards by a certified public accounting firm which 6 = Compilation of the bank's financial statements by
submits a report on the consolidated holding company external auditors
(but not on the bank separately) 7 = Other audit procedures (excluding tax preparation work)
3 = Directors' examination of the bank conducted in 8 = No external audit work
accordance with generally accepted auditing standards
by a certified public accounting firm (may be required by
state chartering authority)
<FN>
- ----------------------
<F1> Including total demand deposits and noninterest-bearing time and savings deposits.
</FN>
STATE OF NEW YORK,
BANKING DEPARTMENT
I, PETER M. PHILBIN, Deputy Superintendent of Bank of the State
of New York, DO HEREBY APPROVE the annexed Certificate entitled
"CERTIFICATE OF AMENDMENT OF THE ORGANIZATION CERTIFICATE OF BANKERS
TRUST COMPANY UNDER SECTION 8005 OF THE BANKING LAW," dated March 20,
1996, providing for an increase in authorized capital stock from
$1,351,666,670 consisting of 85,166,667 shares with a par value of $10
each designated as Common Stock and 500 shares with a par value of
$1,000,000 each designated as Series Preferred Stock to $1,501,666,670
consisting of 100,166,667 shares with a par value of $10 each
designated as Common Stock and 500 shares with a par value of
$1,000,000 each designated as Series Preferred Stock.
WITNESS, MY HAND AND OFFICIAL SEAL OF THE BANKING DEPARTMENT AT THE
CITY OF NEW YORK,
THIS 21ST DAY OF MARCH IN THE YEAR OF OUR LORD
ONE THOUSAND NINE HUNDRED AND NINETY-SIX.
/s/PETER M. PHILBIN
DEPUTY SUPERINTENDENT OF BANKS
CERTIFICATE OF AMENDMENT
OF THE
ORGANIZATION CERTIFICATE
OF BANKERS TRUST
Under Section 8005 of the Banking Law
-------------------------------
We, James T. Byrne, Jr. and Lea Lahtinen, being respectively a
Managing Director and an Assistant Secretary of Bankers Trust Company,
do hereby certify:
1. The name of the corporation is Bankers Trust Company.
2. The organization certificate of said corporation was filed
by the Superintendent of Banks on the 5th of march, 1903.
3. The organization certificate as heretofore amended is hereby
amended to increase the aggregate number of shares which the
corporation shall have authority to issue and to increase the amount
of its authorized capital stock in conformity therewith.
4. Article III of the organization certificate with reference
to the authorized capital stock, the number of shares into which the
capital stock shall be divided, the par value of the shares and the
capital stock outstanding, which reads as follows:
"III. The amount of capital stock which the corporation is
hereafter to have is One Billion, Three Hundred Fifty One
Million, Six Hundred Sixty-Six Thousand, Six Hundred Seventy
Dollars ($1,351,666,670), divided into Eighty-Five Million,
One Hundred Sixty-Six Thousand, Six Hundred Sixty-Seven
(85,166,667) shares with a par value of $10 each designated
as Common Stock and 500 shares with a par value of One
Million Dollars ($1,000,000) each designated as Series
Preferred Stock."
is hereby amended to read as follows:
"III. The amount of capital stock which the corporation is
hereafter to have is One Billion, Five Hundred One Million,
Six Hundred Sixty-Six Thousand, Six Hundred Seventy Dollars
($1,501,666,670), divided into One Hundred Million, One
Hundred Sixty Six Thousand, Six Hundred Sixty-Seven
(100,166,667) shares with a par value of $10 each designated
as Common Stock and 500 shares with a par value of One
Million Dollars ($1,000,000) each designated as Series
Preferred Stock."
6. The foregoing amendment of the organization certificate was
authorized by unanimous written consent signed by the holder of all
outstanding shares entitled to vote thereon.
IN WITNESS WHEREOF, we have made and subscribed this certificate
this 20th day of March , 1996.
/s/JAMES T. BYRNE, JR.
James T. Byrne, Jr.
Managing Director
/s/LEA LAHTINEN
Lea Lahtinen
Assistant Secretary
State of New York )
) ss:
County of New York )
Lea Lahtinen, being fully sworn, deposes and says that she is
an Assistant Secretary of Bankers Trust Company, the corporation
described in the foregoing certificate; that she has read the
foregoing certificate and knows the contents thereof, and that the
statements herein contained are true.
/s/ LEA LAHTINEN
Lea Lahtinen
Sworn to before me this 20th day
of March, 1996.
/s/ SANDRA L. WEST
Notary Public
SANDRA L. WEST
Notary Public State of New York Counterpart filed in the
No. 31-4942101 Office of the Superintendent of
Qualified in New York County Banks, State of New York
Commission Expires September 19, 1996 This 21st day of March, 1996