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2004 Annual Report: Financial Review: Management's Discussion and Analysis: Table 1 Five-Year Summary of Selected Financial Data

Table 1

Five-Year Summary of Selected Financial Data(1)



(Dollars in millions, except per share information)
2004  
  
2003  
  
2002  
  
2001  
  
2000  
Income statement                  
Net interest income $   28,797    $   21,464    $   20,923    $   20,290    $   18,349 
Noninterest income 20,097    16,450    13,580    14,348    14,582 
Total revenue 48,894    37,914    34,503    34,638    32,931 
Provision for credit losses 2,769    2,839    3,697    4,287    2,535 
Gains on sales of debt securities 2,123    941    630    475    25 
Noninterest expense 27,027    20,155    18,445    20,709    18,633 
Income before income taxes 21,221    15,861    12,991    10,117    11,788 
Income tax expense 7,078    5,051    3,742    3,325    4,271 
Net income 14,143    10,810    9,249    6,792    7,517 
Average common shares issued and outstanding (in thousands) 3,758,507    2,973,407    3,040,085    3,189,914    3,292,797 
Average diluted common shares issued and outstanding (in thousands) 3,823,943    3,030,356    3,130,935    3,251,308    3,329,858 
Performance ratios                  
Return on average assets 1.35percent%   1.44percent%   1.41percent%   1.05percent%   1.12%percent
Return on average common shareholders' equity 16.83 percent   21.99percent    19.44percent    13.96percent    15.96 percent
Total equity to total assets (at year end) 8.97 percent   6.67percent    7.78percent    7.87percent    7.45percent 
Total average equity to total average assets 8.06percent    6.57percent    7.28percent    7.55percent    7.03percent 
Dividend payout 45.67percent    39.58percent    40.07percent    53.44percent    45.02percent 
Per common share data                  
Earnings $     3.76    $     3.63    $     3.04    $     2.13    $     2.28 
Diluted earnings 3.69    3.57    2.95    2.09    2.26 
Dividends paid 1.70    1.44    1.22    1.14    1.03 
Book value 24.56    16.63    16.75    15.54    14.74 
Average balance sheet                  
Total loans and leases $  472,645    $  356,148    $  336,819    $  365,447    $  392,622 
Total assets 1,044,660    749,056    653,774    644,887    670,078 
Total deposits 551,559    406,233    371,479    362,653    353,294 
Long-term debt 93,330    68,432    66,045    69,622    70,293 
Common shareholders' equity 83,953    49,148    47,552    48,609    47,057 
Total shareholders' equity 84,183    49,204    47,613    48,678    47,132 
Capital ratios (at year end)                  
Risk-based capital:                  
     Tier 1 8.10%percent 7.85%percent   8.22%percent   8.30%percent   7.50%percent
     Total 11.63 percent   11.87percent    12.43percent    12.67percent    11.04 percent
Leverage 5.82percent    5.73percent    6.29percent    6.55percent    6.11percent 
Market price per share of common stock                  
Closing $    46.99    $    40.22    $    34.79    $    31.48    $    22.94 
High closing 47.44    41.77    38.45    32.50    29.63 
Low closing 38.96    32.82    27.08    23.38    19.00 

(1)
As a result of the adoption of Statement of Financial Accounting Standards (SFAS) No. 142 "Goodwill and Other Intangible Assets" (SFAS 142) on January 1, 2002, we no longer amortize Goodwill. Goodwill amortization expense was $662 and $635 in 2001 and 2000, respectively.

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