| Year Ended December 31, | |||||||||||||||
| (Dollars in thousands, except per share data) | 2001 | 2000 | 1999 | ||||||||||||
|
Interest income:
|
|||||||||||||||
|
Loans and leases
|
$ | 1,872,270 | $ | 1,810,608 | $ | 1,683,662 | |||||||||
|
Mortgage-backed securities:
|
|||||||||||||||
|
Available for sale
|
366,475 | 241,369 | 214,119 | ||||||||||||
|
Held to maturity
|
86,952 | 120,812 | 155,141 | ||||||||||||
|
Investment securities:
|
|||||||||||||||
|
Trading
|
— | 38 | 363 | ||||||||||||
|
Available for sale
|
11,180 | 33,412 | 36,276 | ||||||||||||
|
Held to maturity
|
409 | 1,594 | 2,453 | ||||||||||||
|
Other interest-earning assets
|
40,960 | 39,255 | 36,441 | ||||||||||||
|
Total interest income
|
2,378,246 | 2,247,088 | 2,128,455 | ||||||||||||
|
Interest expense:
|
|||||||||||||||
|
Deposits
|
855,283 | 766,109 | 718,047 | ||||||||||||
|
FHLB advances
|
498,444 | 532,583 | 432,043 | ||||||||||||
|
Other borrowings
|
34,103 | 45,361 | 44,261 | ||||||||||||
|
Total interest expense
|
1,387,830 | 1,344,053 | 1,194,351 | ||||||||||||
|
Net interest income
|
990,416 | 903,035 | 934,104 | ||||||||||||
|
Provision for loan and lease losses
|
100,766 | 54,205 | 35,237 | ||||||||||||
|
Net interest income after provision for loan and
lease losses
|
889,650 | 848,830 | 898,867 | ||||||||||||
|
Other income:
|
|||||||||||||||
|
Retail banking
|
291,892 | 243,547 | 197,279 | ||||||||||||
|
Mortgage banking
|
24,878 | 77,914 | 48,570 | ||||||||||||
|
Leasing operations
|
4,020 | 14,919 | 10,480 | ||||||||||||
|
Net gains (losses)
|
114,312 | 9,271 | (57,047 | ) | |||||||||||
|
Bank owned life insurance and other
|
38,522 | 47,220 | 31,315 | ||||||||||||
|
Total other income
|
473,624 | 392,871 | 230,597 | ||||||||||||
|
Administrative expenses:
|
|||||||||||||||
|
Compensation and employee benefits
|
279,900 | 270,642 | 275,454 | ||||||||||||
|
Net occupancy and equipment
|
109,388 | 101,893 | 95,547 | ||||||||||||
|
Marketing
|
31,708 | 19,527 | 21,643 | ||||||||||||
|
Federal deposit insurance premiums
|
3,918 | 4,011 | 8,256 | ||||||||||||
|
Merger expenses
|
— | 29,491 | 63,526 | ||||||||||||
|
Amortization of goodwill
|
16,156 | 16,180 | 14,011 | ||||||||||||
|
Other administrative expenses
|
188,592 | 162,211 | 154,890 | ||||||||||||
|
Total administrative expenses
|
629,662 | 603,955 | 633,327 | ||||||||||||
|
Income before income taxes and
extraordinary item
|
733,612 | 637,746 | 496,137 | ||||||||||||
|
Income taxes
|
232,898 | 203,784 | 160,607 | ||||||||||||
|
Income before extraordinary item
|
500,714 | 433,962 | 335,530 | ||||||||||||
|
Extraordinary item, net of tax benefit of $837
|
— | — | 1,554 | ||||||||||||
|
Net income
|
$ | 500,714 | $ | 433,962 | $ | 333,976 | |||||||||
|
Basic earnings per
share(1):
|
|||||||||||||||
|
Income before extraordinary item
|
$ | 2.25 | $ | 1.93 | $ | 1.43 | |||||||||
|
Extraordinary item
|
— | — | (.01 | ) | |||||||||||
|
Net income
|
$ | 2.25 | $ | 1.93 | $ | 1.42 | |||||||||
|
Diluted earnings per
share(1):
|
|||||||||||||||
|
Income before extraordinary item
|
$ | 2.21 | $ | 1.90 | $ | 1.40 | |||||||||
|
Extraordinary item
|
— | — | (.01 | ) | |||||||||||
|
Net income
|
$ | 2.21 | $ | 1.90 | $ | 1.39 | |||||||||
|
Weighted average common shares
outstanding(1)
|
221,473,731 | 224,397,762 | 234,930,650 | ||||||||||||
|
Weighted average common and common equivalent
shares outstanding(1)
|
227,031,880 | 228,471,263 | 240,175,067 | ||||||||||||
| (1) | Restated to reflect the 5% stock dividend issued September 28, 2001. | |
| See Notes to Consolidated Financial Statements. | ||