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DEW005 -- Old Kent Financial Earnings/.
Consolidated Key Financial Data (a)
[Amounts in thousands, 2nd Quarter 1st Quarter
except per share 2000 2000
data] Excluding Excluding
Merger 2nd Quarter Merger 1st Quarter
Charges 2000 Charges 2000
(Unaudited)
Summary Income Statement
Taxable equivalent net
interest income $201,922 $201,922 $197,573 $197,573
Interest income 413,142 413,142 381,496 381,496
Interest expense 217,213 217,213 189,880 189,880
Net interest income 195,929 195,929 191,616 191,616
Provision for credit losses
(operating) 8,970 8,970 10,632 10,632
Provision for credit losses
(merger related) -- 8,000 -- 4,000
Other income:
Mortgage banking revenues -
net 44,840 44,840 42,843 42,843
Investment management &
trust revenues 21,842 21,842 21,961 21,961
Deposit account revenues 20,551 20,551 19,817 19,817
Insurance sales
commissions 5,636 5,636 6,478 6,478
Other 20,894 20,894 22,045 22,045
Total other income 113,763 113,763 113,144 113,144
Securities
gains/(losses) 10 10 (433) (433)
Securities gains/(losses)
(merger related) -- (5,300) -- (6,125)
Total 113,773 108,473 112,711 106,586
Other expense:
Salaries and employee
benefits 92,356 92,356 96,510 96,510
Occupancy expense 14,038 14,038 14,760 14,760
Equipment expense 12,984 12,984 11,947 11,947
Amortization of goodwill &
intangibles 4,755 4,755 4,770 4,770
Other 55,525 55,525 54,807 54,807
Total other expense 179,658 179,658 182,794 182,794
Merger charges -- 26,000 -- 16,000
Total 179,658 205,658 182,794 198,794
Income before income
taxes 121,074 81,774 110,901 84,776
Income taxes 39,319 39,319 35,294 35,294
Income taxes (applicable to
merger charges) -- (13,230) -- (8,619)
Net income $81,755 $55,685 $75,607 $58,101
Preferred dividend (185) (185) (185) (185)
Net income available to
common…
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Source: HighBeam Research, DEW005 -- Old Kent Financial Earnings/.
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