 |
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Statement of Income |
|
|
Year Ended December 31 |
|
|
|
|
|
|
|
|
2003 |
|
|
2002 |
|
|
2001 |
|
|
|
|
|
|
| Interest income |
|
| Interest and fees on loans and leases |
|
$ |
21,668 |
|
$ |
22,030 |
|
$ |
27,279 |
|
| Interest on debt securities |
|
3,160 |
|
4,035 |
|
3,706 |
|
| Federal funds sold and securities purchased under agreements to resell |
|
1,373 |
|
870 |
|
1,414 |
|
| Trading account assets |
|
3,935 |
|
3,811 |
|
3,623 |
|
| Other interest income |
|
1,507 |
|
1,415 |
|
2,271 |
|
|
|
|
|
| Total interest income |
|
31,643 |
|
32,161 |
|
38,293 |
|
|
|
|
|
| Interest expense |
|
| Deposits |
|
4,908 |
|
5,434 |
|
8,886 |
|
| Short-term borrowings |
|
1,951 |
|
2,089 |
|
4,167 |
|
| Trading account liabilities |
|
1,286 |
|
1,260 |
|
1,155 |
|
| Long-term debt |
|
2,034 |
|
2,455 |
|
3,795 |
|
|
|
|
|
| Total interest expense |
|
10,179 |
|
11,238 |
|
18,003 |
|
|
|
|
|
| Net interest income |
|
21,464 |
|
20,923 |
|
20,290 |
|
|
| Noninterest income |
|
| Consumer service charges |
|
3,230 |
|
2,986 |
|
2,865 |
|
| Corporate service charges |
|
2,388 |
|
2,290 |
|
2,078 |
|
|
|
|
|
| Total service charges |
|
5,618 |
|
5,276 |
|
4,943 |
|
|
|
|
|
| Consumer investment and brokerage services |
|
1,559 |
|
1,544 |
|
1,546 |
|
| Corporate investment and brokerage services |
|
792 |
|
693 |
|
566 |
|
|
|
|
|
| Total investment and brokerage services |
|
2,351 |
|
2,237 |
|
2,112 |
|
|
|
|
|
| Mortgage banking income |
|
1,922 |
|
761 |
|
597 |
|
| Investment banking income |
|
1,736 |
|
1,545 |
|
1,579 |
|
| Equity investment gains (losses) |
|
215 |
|
(280 |
) |
|
291 |
|
| Card income |
|
3,052 |
|
2,620 |
|
2,422 |
|
| Trading account profits |
|
409 |
|
778 |
|
1,842 |
|
| Other income(1) |
|
1,119 |
|
634 |
|
562 |
|
|
|
|
|
| Total noninterest income |
|
16,422 |
|
13,571 |
|
14,348 |
|
|
|
|
|
| Total revenue |
|
37,886 |
|
34,494 |
|
34,638 |
|
|
| Provision for credit losses |
|
2,839 |
|
3,697 |
|
4,287 |
|
|
| Gains on sales of debt securities |
|
941 |
|
630 |
|
475 |
|
|
| Noninterest expense |
|
| Personnel |
|
10,446 |
|
9,682 |
|
9,829 |
|
| Occupancy |
|
2,006 |
|
1,780 |
|
1,774 |
|
| Equipment |
|
1,052 |
|
1,124 |
|
1,115 |
|
| Marketing |
|
985 |
|
753 |
|
682 |
|
| Professional fees |
|
844 |
|
525 |
|
564 |
|
| Amortization of intangibles |
|
217 |
|
218 |
|
878 |
|
| Data processing |
|
1,104 |
|
1,017 |
|
776 |
|
| Telecommunications |
|
571 |
|
481 |
|
484 |
|
| Other general operating |
|
2,902 |
|
2,856 |
|
3,302 |
|
| Business exit costs |
|
- |
|
- |
|
1,305 |
|
|
|
|
|
| Total noninterest expense |
|
20,127 |
|
18,436 |
|
20,709 |
|
|
|
|
|
| Income before income taxes |
|
15,861 |
|
12,991 |
|
10,117 |
|
|
| Income tax expense |
|
5,051 |
|
3,742 |
|
3,325 |
|
|
|
|
|
| Net income |
|
$ |
10,810 |
|
$ |
9,249 |
|
$ |
6,792 |
|
|
|
|
|
| Net income available to common shareholders |
|
$ |
10,806 |
|
$ |
9,244 |
|
$ |
6,787 |
|
|
|
|
|
| Per common share information |
|
| Earnings |
|
$ |
7.27 |
|
$ |
6.08 |
|
$ |
4.26 |
|
|
|
|
|
| Diluted earnings |
|
$ |
7.13 |
|
$ |
5.91 |
|
$ |
4.18 |
|
|
|
|
|
| Dividends paid |
|
$ |
2.88 |
|
$ |
2.44 |
|
$ |
2.28 |
|
|
|
|
|
| Average common shares issued and outstanding (in thousands) |
|
1,486,703 |
|
1,520,042 |
|
1,594,957 |
|
|
|
|
|
| Average diluted common shares issued and outstanding (in thousands) |
|
1,515,178 |
|
1,565,467 |
|
1,625,654 |
|
|
|
|
|
| (1) |
|
|
|
