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Table 1
Five-Year Summary of Selected Financial Data(1) |
|
|
|
2003 |
|
|
|
2002 |
|
|
|
2001 |
|
|
|
2000 |
|
|
|
1999 |
|
|
|
|
|
|
| Income statement |
|
| Net interest income |
|
$ |
21,464 |
|
|
$ |
20,923 |
|
|
$ |
20,290 |
|
|
$ |
18,349 |
|
|
$ |
18,127 |
|
| Noninterest income |
|
|
16,422 |
|
|
|
13,571 |
|
|
|
14,348 |
|
|
|
14,582 |
|
|
|
14,179 |
|
| Total revenue |
|
|
37,886 |
|
|
|
34,494 |
|
|
|
34,638 |
|
|
|
32,931 |
|
|
|
32,306 |
|
| Provision for credit losses |
|
|
2,839 |
|
|
|
3,697 |
|
|
|
4,287 |
|
|
|
2,535 |
|
|
|
1,820 |
|
| Gains on sales of debt securities |
|
|
941 |
|
|
|
630 |
|
|
|
475 |
|
|
|
25 |
|
|
|
240 |
|
| Noninterest expense |
|
|
20,127 |
|
|
|
18,436 |
|
|
|
20,709 |
|
|
|
18,633 |
|
|
|
18,511 |
|
| Income before income taxes |
|
|
15,861 |
|
|
|
12,991 |
|
|
|
10,117 |
|
|
|
11,788 |
|
|
|
12,215 |
|
| Income tax expense |
|
|
5,051 |
|
|
|
3,742 |
|
|
|
3,325 |
|
|
|
4,271 |
|
|
|
4,333 |
|
| Net income |
|
|
10,810 |
|
|
|
9,249 |
|
|
|
6,792 |
|
|
|
7,517 |
|
|
|
7,882 |
|
| Average common shares issued and outstanding (in thousands) |
|
1,486,703 |
|
|
1,520,042 |
|
|
1,594,957 |
|
|
1,646,398 |
|
|
1,726,006 |
|
| Average diluted common shares issued and outstanding (in thousands) |
|
1,515,178 |
|
|
1,565,467 |
|
|
1,625,654 |
|
|
1,664,929 |
|
|
1,760,058 |
|
|
|
|
|
| Performance ratios |
|
| Return on average assets |
|
|
1.41 |
% |
|
|
1.40 |
% |
|
|
1.04 |
% |
|
|
1.12 |
% |
|
|
1.28 |
% |
| Return on average common shareholders' equity |
|
|
21.99 |
|
|
|
19.44 |
|
|
|
13.96 |
|
|
|
15.96 |
|
|
|
16.93 |
|
| Total equity to total assets (at year end) |
|
|
6.52 |
|
|
|
7.61 |
|
|
|
7.80 |
|
|
|
7.41 |
|
|
|
7.02 |
|
| Total average equity to total average assets |
|
|
6.44 |
|
|
|
7.18 |
|
|
|
7.49 |
|
|
|
7.01 |
|
|
|
7.55 |
|
| Dividend payout |
|
|
39.58 |
|
|
|
40.07 |
|
|
|
53.44 |
|
|
|
45.02 |
|
|
|
40.54 |
|
|
|
|
|
| Per common share data |
|
| Earnings |
|
$ |
7.27 |
|
|
$ |
6.08 |
|
|
$ |
4.26 |
|
|
$ |
4.56 |
|
|
$ |
4.56 |
|
| Diluted earnings |
|
|
7.13 |
|
|
|
5.91 |
|
|
|
4.18 |
|
|
|
4.52 |
|
|
|
4.48 |
|
| Dividends paid |
|
|
2.88 |
|
|
|
2.44 |
|
|
|
2.28 |
|
|
|
2.06 |
|
|
|
1.85 |
|
| Book value |
|
|
33.26 |
|
|
|
33.49 |
|
|
|
31.07 |
|
|
|
29.47 |
|
|
|
26.44 |
|
|
|
|
|
| Average balance sheet |
|
| Total loans and leases |
|
$ |
356,148 |
|
|
$ |
336,819 |
|
|
$ |
365,447 |
|
|
$ |
392,622 |
|
|
$ |
362,783 |
|
| Total assets |
|
|
764,132 |
|
|
|
662,943 |
|
|
|
650,083 |
|
|
|
672,067 |
|
|
|
617,352 |
|
| Total deposits |
|
|
406,233 |
|
|
|
371,479 |
|
|
|
362,653 |
|
|
|
353,294 |
|
|
|
341,748 |
|
| Long-term debt(2) |
|
|
68,432 |
|
|
|
66,045 |
|
|
|
69,622 |
|
|
|
70,293 |
|
|
|
57,574 |
|
| Common shareholders' equity |
|
|
49,148 |
|
|
|
47,552 |
|
|
|
48,609 |
|
|
|
47,057 |
|
|
|
46,527 |
|
| Total shareholders' equity |
|
|
49,204 |
|
|
|
47,613 |
|
|
|
48,678 |
|
|
|
47,132 |
|
|
|
46,601 |
|
|
|
|
|
| Capital ratios (at year end) |
|
| Risk-based capital: |
|
| Tier 1 capital |
|
|
7.85 |
% |
|
|
8.22 |
% |
|
|
8.30 |
% |
|
|
7.50 |
% |
|
|
7.35 |
% |
| Total capital |
|
|
11.87 |
|
|
|
12.43 |
|
|
|
12.67 |
|
|
|
11.04 |
|
|
|
10.88 |
|
| Leverage |
|
|
5.73 |
|
|
|
6.29 |
|
|
|
6.55 |
|
|
|
6.11 |
|
|
|
6.26 |
|
|
|
|
|
| Market price per share of common stock |
|
| Closing |
|
$ |
80.43 |
|
|
$ |
69.57 |
|
|
$ |
62.95 |
|
|
$ |
45.88 |
|
|
$ |
50.19 |
|
| High closing |
|
|
83.53 |
|
|
|
76.90 |
|
|
|
65.00 |
|
|
|
59.25 |
|
|
|
75.50 |
|
| Low closing |
|
|
65.63 |
|
|
|
54.15 |
|
|
|
46.75 |
|
|
|
38.00 |
|
|
|
48.00 |
|
|
|
|
|
|
|
|
