EXHIBIT 99(a)
ROSLYN BANCORP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
(In thousands, except share amounts)
September 30, December 31,
ASSETS 2003 2002
- ------ ------------ ------------
Cash and cash equivalents:
Cash and cash items ..................................................... $ 13,892 $ 13,249
Due from banks .......................................................... 47,623 55,740
------------ ------------
Total cash and cash equivalents ...................................... 61,515 68,989
Money market investments ................................................... 36,000 102,000
Securities:
Debt securities held-to-maturity, net (fair value of $272,885 and
$377,393 at September 30, 2003 and December 31, 2002, respectively)..... 284,759 374,763
Mortgage-backed and mortgage related securities held-for-maturity,
net (fair value of $1,477,570 at September 30, 2003).................. 1,528,842 --
Debt and equity securities available-for-sale, net ...................... 1,066,449 1,520,187
Mortgage-backed and mortgage related securities available-for-sale, net.. 3,597,445 5,418,706
------------ ------------
Total securities ..................................................... 6,477,495 7,313,656
Federal Home Loan Bank of New York stock, at cost .......................... 78,040 97,040
Loans held-for-sale ........................................................ 13,635 11,636
Loans receivable held for investment, net:
Real estate loans, net .................................................. 3,345,926 2,861,100
Consumer and other loans, net ........................................... 263,222 295,586
------------ ------------
Total loans receivable held for investment, net ...................... 3,609,148 3,156,686
Allowance for loan losses ............................................... (44,314) (43,421)
------------ ------------
Total loans receivable held for investment, net of allowance for
loan losses........................................................ 3,564,834 3,113,265
Banking house and equipment, net ........................................... 41,117 39,558
Accrued interest receivable ................................................ 52,617 58,268
Deferred tax asset, net .................................................... 37,031 19,524
Other assets ............................................................... 209,677 196,283
------------ ------------
Total assets ......................................................... $ 10,571,961 $ 11,020,219
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Savings accounts ..................................................... $ 1,304,360 $ 1,194,836
Certificates of deposit .............................................. 3,271,164 3,129,469
Money market accounts ................................................ 762,013 863,457
Interest-bearing demand deposit accounts ............................. 354,591 309,724
Demand deposit accounts .............................................. 245,453 213,364
------------ ------------
Total deposits .................................................... 5,937,581 5,710,850
Official checks outstanding ............................................. 36,090 38,350
Borrowed funds:
Reverse-repurchase agreements ........................................ 2,420,299 2,948,587
Senior notes ......................................................... 189,796 189,759
Guaranteed preferred beneficial interest in junior subordinated
debentures ........................................................ 63,000 --
Other borrowings ..................................................... 1,275,797 1,380,801
Accrued interest payable and dividends .................................. 30,994 28,067
Mortgagors' escrow and security deposits ................................ 28,172 24,296
Accrued taxes payable ................................................... 8,972 18,946
Accrued expenses and other liabilities .................................. 61,968 41,049
------------ ------------
Total liabilities .................................................... 10,052,669 10,380,705
============ ============
Guarantees preferred beneficial interest in junior subordinated
debentures ........................................................ -- 63,000
Stockholders' equity:
Preferred stock, $0.01 par value, 10,000,000 shares authorized;
none issued
Common stock, $0.01 par value, 200,000,000 shares authorized;
118,811,472 shares issued; 75,826,918, 80,752,923 and
83,482,698 shares outstanding at September 30, 2003,
December 31, 2002 and September 30, 2002, respectively ............... 1,188 1,188
Additional paid-in-capital .............................................. 510,345 509,053
Retained earnings - partially restricted ................................ 748,736 682,853
Net unrealized gain on securities available-for-sale, net of tax ........ (20,697) 4,047
Unallocated common stock held by Employee Stock Ownership Plan .......... (41,699) (43,044)
Unearned common stock held by Stock-Based Incentive Plan ................ (13,876) (3,575)
Common stock held by Supplemental Executive Retirement Plan, at cost..... (3,235) (5,997)
Treasury stock, at cost ................................................. (661,470) (568,011)
------------ ------------
Total stockholders' equity ........................................... 519,292 576,514
------------ ------------
Total liabilities and stockholders' equity ........................... $ 10,571,961 $ 11,020,219
============ ============
ROSLYN BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)
For the Three Months Ended For the Nine Months Ended
--------------------------- ---------------------------
September 30, September 30, September 30, September 30,
2003 2002 2003 2002
------------- ------------- ------------ -------------
Interest income:
Money market investments .......................... $ 95 $ 326 $ 450 $ 1,123
Debt and equity securities ........................ 13,260 22,696 58,533 69,648
Mortgage-backed and mortgage related securities.... 62,293 73,045 203,773 196,813
Real estate loans ................................. 50,694 53,048 147,783 165,593
Consumer and other loans .......................... 2,871 4,035 9,406 12,418
--------- --------- --------- ---------
Total interest income .......................... 129,213 153,150 419,945 445,595
--------- --------- --------- ---------
Interest expense:
Deposits .......................................... 28,252 33,802 92,442 97,781
Borrowed funds .................................... 48,002 50,076 142,398 144,040
--------- --------- --------- ---------
Total interest expense ......................... 76,254 83,878 234,840 241,821
--------- --------- --------- ---------
Net interest income before provision for loan losses.. 52,959 69,272 185,105 203,774
Provision for loan losses ............................ -- 750 1,000 2,250
--------- --------- --------- ---------
Net interest income after provision for loan losses .. 52,959 68,522 184,105 201,524
--------- --------- --------- ---------
Non-interest income:
Fees and service charges .......................... 5,095 4,167 14,678 12,431
Net gains on securities ........................... 3,991 52 11,626 117
Joint venture (loss) income ....................... (146) 3,661 (226) 13,858
Other non-interest income ......................... 2,044 2,309 6,499 6,758
--------- --------- --------- ---------
Total non-interest income ...................... 10,984 10,189 32,577 33,164
--------- --------- --------- ---------
Non-interest expense:
General and administrative expenses:
Compensation and employee benefits ............. 12,880 13,669 36,148 41,448
Occupancy and equipment ........................ 3,825 3,280 11,263 9,642
Deposit insurance premiums ..................... 251 225 721 646
Advertising and promotion ...................... 683 983 1,823 2,724
Other non-interest expenses .................... 4,145 3,710 12,667 13,792
--------- --------- --------- ---------
Total general and administrative expenses ... 21,784 21,867 62,622 68,252
--------- --------- --------- ---------
Amortization of intangible assets ................. 31 32 94 95
Real estate operations, net ....................... (15) 8 60 (75)
Capital trust securities .......................... -- 954 1,711 2,021
Prepayment penalties on debt extinguishments ...... -- -- 1,502 --
--------- --------- --------- ---------
Total non-interest expense ..................... 21,800 22,861 65,989 70,293
--------- --------- --------- ---------
Income before provision for income taxes ............. 42,143 55,850 150,693 164,395
--------- --------- --------- ---------
Provision for income taxes ........................... 7,902 19,858 43,382 58,078
--------- --------- --------- ---------
Net income ........................................... $ 34,241 $ 35,992 $ 107,311 $ 106,317
--------- --------- --------- ---------
Basic earnings per common share ...................... $ 0.48 $ 0.46 $ 1.47 $ 1.34
--------- --------- --------- ---------
Diluted earnings per common share .................... $ 0.47 $ 0.45 $ 1.45 $ 1.31
--------- --------- --------- ---------
Basic weighted average shares outstanding ............ 71,640,181 78,816,238 72,777,932 79,580,337
Diluted weighted average shares outstanding .......... 73,300,724 80,522,763 73,975,260 81,366,242