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Statistical Tables
2006 | 2005 | 2004 | |||||||
---|---|---|---|---|---|---|---|---|---|
(Dollars in millions) | Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Earning assets | |||||||||
Time deposits placed and other short-term investments
|
$ |
$ |
4.14 % |
$ |
$ |
3.30 % |
$ |
$ |
2.54 % |
Federal funds sold and securities purchased under agreements to
resell
|
175,334 | 7,823 | 4.46 | 169,132 | 5,012 | 2.96 | 128,981 | 1,940 | 1.50 |
Trading account assets | 145,321 | 7,552 | 5.20 | 133,502 | 5,883 | 4.41 | 104,616 | 4,092 | 3.91 |
Debt securities (1) | 225,219 | 11,845 | 5.26 | 219,843 | 11,047 | 5.03 | 150,171 | 7,320 | 4.88 |
Loans and leases (2): | |||||||||
Residential mortgage | 207,879 | 11,608 | 5.58 | 173,773 | 9,424 | 5.42 | 167,270 | 9,056 | 5.42 |
Credit card domestic | 63,838 | 8,638 | 13.53 | 53,997 | 6,253 | 11.58 | 43,435 | 4,653 | 10.71 |
Credit card foreign | 9,141 | 1,147 | 12.55 | | | | | | |
Home equity lines | 68,696 | 5,105 | 7.43 | 56,289 | 3,412 | 6.06 | 39,400 | 1,835 | 4.66 |
Direct/Indirect consumer (3) | 59,597 | 4,552 | 7.64 | 44,981 | 2,589 | 5.75 | 38,078 | 2,093 | 5.50 |
Other consumer (4) | 10,713 | 1,089 | 10.17 | 6,908 | 667 | 9.67 | 7,717 | 594 | 7.70 |
Total consumer | 419,864 | 32,139 | 7.65 | 335,948 | 22,345 | 6.65 | 295,900 | 18,231 | 6.16 |
Commercial domestic | 151,231 | 10,897 | 7.21 | 128,034 | 8,266 | 6.46 | 114,644 | 6,978 | 6.09 |
Commercial real estate (5) | 36,939 | 2,740 | 7.42 | 34,304 | 2,046 | 5.97 | 28,085 | 1,263 | 4.50 |
Commercial lease financing | 20,862 | 995 | 4.77 | 20,441 | 992 | 4.85 | 17,483 | 819 | 4.68 |
Commercial foreign | 23,521 | 1,674 | 7.12 | 18,491 | 1,292 | 6.99 | 16,505 | 850 | 5.15 |
Total Commercial | 232,553 | 16,306 | 7.01 | 201,270 | 12,596 | 6.26 | 176,717 | 9,910 | 5.61 |
Total loans and leases | 652,417 | 48,445 | 7.43 | 537,218 | 34,941 | 6.50 | 472,617 | 28,141 | 5.95 |
Other earning assets | 55,242 | 3,498 | 6.33 | 38,013 | 2,103 | 5.53 | 34,634 | 1,815 | 5.24 |
Total earning assets (6) |
1,269,144 | 79,809 | 6.29 | 1,111,994 | 59,458 | 5.35 | 905,273 | 43,670 | 4.82 |
Cash and cash equivalents | 34,052 | 33,199 | 28,511 | ||||||
Other assets, less allowance for loan and lease losses |
163,485 | 124,699 | 110,847 | ||||||
Total assets |
$ |
$ |
$ |
||||||
Interest-bearing liabilities | |||||||||
Domestic interest-bearing deposits: | |||||||||
Savings |
$ |
$ |
0.78 % |
$ |
$ |
0.58 % |
$ |
$ |
0.35 % |
NOW and money
market deposit accounts |
218,077 | 3,923 | 1.80 | 227,722 | 2,839 | 1.25 | 214,542 | 1,921 | 0.90 |
Consumer CDs and IRAs | 144,738 | 6,022 | 4.16 | 124,385 | 4,091 | 3.29 | 94,770 | 2,540 | 2.68 |
Negotiable CDs, public
funds and other time deposits |
12,195 | 483 | 3.97 | 6,865 | 250 | 3.65 | 5,977 | 290 | 4.85 |
Total domestic interest-bearing deposits |
409,618 | 10,697 | 2.61 | 395,574 | 7,391 | 1.87 | 349,248 | 4,870 | 1.39 |
Foreign interest-bearing deposits: | |||||||||
Banks located
in foreign countries |
34,985 | 1,982 | 5.67 | 22,945 | 1,202 | 5.24 | 18,426 | 679 | 3.68 |
Governments and
official institutions |
12,674 | 586 | 4.63 | 7,418 | 238 | 3.21 | 5,327 | 97 | 1.82 |
Time, savings and other | 38,544 | 1,215 | 3.15 | 31,603 | 661 | 2.09 | 27,739 | 275 | 0.99 |
Total foreign interest-bearing deposits |
86,203 | 3,783 | 4.39 | 61,966 | 2,101 | 3.39 | 51,492 | 1,051 | 2.04 |
Total interest- bearing deposits |
495,821 | 14,480 | 2.92 | 457,540 | 9,492 | 2.08 | 400,740 | 5,921 | 1.48 |
Federal funds purchased, securities sold under agreements to
repurchase and other short-term borrowings
|
411,132 | 19,840 | 4.83 | 326,408 | 11,615 | 3.56 | 227,565 | 4,072 | 1.79 |
Trading account liabilities | 64,689 | 2,640 | 4.08 | 57,689 | 2,364 | 4.10 | 35,326 | 1,317 | 3.73 |
Long-term debt | 130,124 | 7,034 | 5.41 | 97,709 | 4,418 | 4.52 | 92,303 | 3,683 | 3.99 |
Total interest- bearing liabilities (6) |
1,101,766 | 43,994 | 3.99 | 939,346 | 27,889 | 2.97 | 755,934 | 14,993 | 1.98 |
Noninterest-bearing sources: | |||||||||
Noninterest-bearing deposits | 177,174 | 174,892 | 150,819 | ||||||
Other liabilities | 57,278 | 55,793 | 53,063 | ||||||
Shareholders' equity | 130,463 | 99,861 | 84,815 | ||||||
Total liabilities and shareholders' equity |
$ |
$ |
$ |
||||||
Net interest spread |
2.30 % |
2.38 % |
2.84 % |
||||||
Impact of noninterest- bearing sources
|
0.52 | 0.46 | 0.33 | ||||||
Net interest income/yield on earning assets (7) |
$ |
2.82 % |
$ |
2.84 % |
$ |
3.17 % |
Footnote (1)
Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.
Footnote (2)
Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
Footnote (3)
Includes home equity loans of $9.6 billion, $7.6 billion and $5.6 billion in 2006, 2005 and 2004, respectively.
Footnote (4)
Includes consumer finance loans of $2.9 billion, $3.1 billion and $3.7 billion in 2006, 2005 and 2004, respectively; and foreign consumer loans of $7.8 billion, $3.6 billion and
$3.0 billion in 2006, 2005 and 2004, respectively.
Footnote (5)
Includes domestic commercial real estate loans of $36.2 billion, $33.8 billion and $27.7 billion in 2006, 2005 and 2004, respectively.
Footnote (6)
Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(372) million, $704
million and $2.1 billion in 2006, 2005 and 2004, respectively. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense
on the underlying liabilities $106 million, $1.3 billion and $1.5 billion in 2006, 2005 and 2004, respectively. For further information on interest rate contracts, see
"Interest Rate Risk Management for Nontrading Activities."
Footnote (7)
Interest income (FTE basis) in 2006 does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign
sales corporation regimes. The FTE impact to Net Interest Income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million
and 2 bps, respectively, in 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for Net Interest Income and net interest
yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.
From 2005 to 2006 | From 2004 to 2005 | ||||||||
---|---|---|---|---|---|---|---|---|---|
Due to Change in (1) | Due to Change in (1) | ||||||||
(Dollars in millions) | Volume | Rate | Net Change |
Volume | Rate | Net Change |
|||
Increase (decrease) in interest income | |||||||||
Time deposits placed and other short-term investments
|
$ |
$ |
$ |
$ |
$ |
$ |
|||
Federal funds sold and securities purchased under agreements to
resell
|
178 | 2,633 | 2,811 | 597 | 2,475 | 3,072 | |||
Trading account assets | 526 | 1,143 | 1,669 | 1,128 | 663 | 1,791 | |||
Debt securities | 282 | 516 | 798 | 3,408 | 319 | 3,727 | |||
Loans and leases: | |||||||||
Residential mortgage | 1,843 | 341 | 2,184 | 362 | 6 | 368 | |||
Credit card domestic | 1,139 | 1,246 | 2,385 | 1,130 | 470 | 1,600 | |||
Credit card foreign | 1,147 | | 1,147 | | | | |||
Home equity lines | 751 | 942 | 1,693 | 788 | 789 | 1,577 | |||
Direct/Indirect consumer | 838 | 1,125 | 1,963 | 381 | 115 | 496 | |||
Other consumer | 369 | 53 | 422 | (62) | 135 | 73 | |||
Total consumer | 9,794 | 4,114 | |||||||
Commercial domestic | 1,504 | 1,127 | 2,631 | 819 | 469 | 1,288 | |||
Commercial real estate | 159 | 535 | 694 | 281 | 502 | 783 | |||
Commercial lease financing | 20 | (17) | 3 | 138 | 35 | 173 | |||
Commercial foreign | 352 | 30 | 382 | 102 | 340 | 442 | |||
Total Commercial | 3,710 | 2,686 | |||||||
Total loans and leases | 13,504 | 6,800 | |||||||
Other earning assets | 952 | 443 | 1,395 | 177 | 111 | 288 | |||
Total interest income |
$ |
$ |
|||||||
Increase (decrease) in interest expense | |||||||||
Domestic interest-bearing deposits: | |||||||||
Savings |
$ |
$ |
$ |
$ |
$ |
$ |
|||
NOW and money
market deposit accounts |
(113) | 1,197 | 1,084 | 128 | 790 | 918 | |||
Consumer CDs and IRAs | 671 | 1,260 | 1,931 | 781 | 770 | 1,551 | |||
Negotiable CDs, public
funds and other time deposits |
195 | 38 | 233 | 43 | (83) | (40) | |||
Total domestic
interest-bearing deposits |
3,306 | 2,521 | |||||||
Foreign interest-bearing deposits: | |||||||||
Banks located
in foreign countries |
631 | 149 | 780 | 165 | 358 | 523 | |||
Governments and
official institutions |
169 | 179 | 348 | 38 | 103 | 141 | |||
Time, savings and other | 145 | 409 | 554 | 38 | 348 | 386 | |||
Total foreign
interest-bearing deposits |
1,682 | 1,050 | |||||||
Total interest-
bearing deposits |
4,988 | 3,571 | |||||||
Federal funds purchased, securities sold under agreements to
repurchase and other short-term borrowings
|
3,021 | 5,204 | 8,225 | 1,771 | 5,772 | 7,543 | |||
Trading account liabilities | 288 | (12) | 276 | 835 | 212 | 1,047 | |||
Long-term debt | 1,464 | 1,152 | 2,616 | 216 | 519 | 735 | |||
Total interest expense
|
16,105 | 12,896 | |||||||
Net increase in
net interest income (2) |
$ |
$ |
Footnote (1)
The changes for each category of interest income and expense are divided between the portion of change attributable to the variance in volume and the portion of change
attributable to the variance in rate for that category. The unallocated change in rate or volume variance has been allocated between the rate and volume variances.
Footnote (2)
Interest income (FTE basis) in 2006 does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign
sales corporation regimes. The FTE impact to Net Interest Income of this retroactive tax adjustment is a reduction of $270 million from 2005 to 2006. Management has
excluded this one-time impact to provide a more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact
on any given future period is not expected to be material.
December 31 | |||||
---|---|---|---|---|---|
(Dollars in millions) | 2006 | 2005 | 2004 | 2003 | 2002 |
Consumer | |||||
Residential mortgage |
$ |
$ |
$ |
$ |
$ |
Credit card domestic | 61,195 | 58,548 | 51,726 | 34,814 | 24,729 |
Credit card foreign | 10,999 | | | | |
Home equity lines | 74,888 | 62,098 | 50,126 | 23,859 | 23,236 |
Direct/Indirect consumer (1) | 68,224 | 45,490 | 40,513 | 33,415 | 31,068 |
Other consumer (2) | 9,218 | 6,725 | 7,439 | 7,558 | 10,355 |
Total consumer
|
465,705 | 355,457 | 327,883 | 240,129 | 197,720 |
Commercial | |||||
Commercial domestic | 161,982 | 140,533 | 122,095 | 91,491 | 99,151 |
Commercial real estate (3) | 36,258 | 35,766 | 32,319 | 19,367 | 20,205 |
Commercial lease financing | 21,864 | 20,705 | 21,115 | 9,692 | 10,386 |
Credit card foreign | 20,681 | 21,330 | 18,401 | 10,754 | 15,428 |
Total commercial
|
240,785 | 218,334 | 193,930 | 131,304 | 145,170 |
Total loans and leases
|
$ |
$ |
$ |
$ |
$ |
Footnote (1)
Includes home equity loans of $12.8 billion, $8.1 billion, $7.3 billion, $7.3 billion, and $3.6 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.
Footnote (2)
Includes foreign consumer loans of $6.2 billion, $3.8 billion, $3.6 billion, $2.0 billion, and $2.0 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively;
consumer finance loans of $2.8 billion, $2.8 billion, $3.4 billion, $3.9 billion, and $4.4 billion at December 31, 2006, 2005, 2004, 2003, and 2002, respectively; and consumer
lease financing of $481 million, $1.7 billion, and $3.9 billion at December 31, 2004, 2003, and 2002, respectively.
Footnote (3)
Includes domestic commercial real estate loans of $35.7 billion, $35.2 billion, $31.9 billion, $19.0 billion, and $19.9 billion at December 31, 2006, 2005, 2004, 2003, and
2002, respectively; and foreign commercial real estate loans of $578 million, $585 million, $440 million, $324 million, and $295 million at December 31, 2006, 2005, 2004,
2003, and 2002, respectively.
December 31 | |||||
---|---|---|---|---|---|
(Dollars in millions) | 2006 | 2005 | 2004 | 2003 | 2002 |
Consumer | |||||
Residential mortgage |
$ |
$ |
$ |
$ |
$ |
Home equity lines | 249 | 117 | 66 | 43 | 66 |
Direct/Indirect consumer | 44 | 37 | 33 | 28 | 30 |
Other consumer | 77 | 61 | 85 | 36 | 25 |
Total consumer(1)
|
1,030 | 785 | 738 | 638 | 733 |
Commercial | |||||
Commercial domestic | 584 | 581 | 855 | 1,388 | 2,621 |
Commercial real estate | 118 | 49 | 87 | 142 | 164 |
Commercial lease financing | 42 | 62 | 266 | 127 | 160 |
Credit card foreign | 13 | 34 | 267 | 578 | 1,359 |
Total commercial (2)
|
757 | 726 | 1,475 | 2,235 | 4,304 |
Total nonperforming loans and leases
|
1,787 | 1,511 | 2,213 | 2,873 | 5,037 |
Foreclosed properties | 69 | 92 | 102 | 148 | 225 |
Nonperforming securities (3) | | | 140 | | |
Total nonperforming assets (4)
|
$ |
$ |
$ |
$ |
$ |
Footnote (1)
In 2006, $69 million in Interest Income was estimated to be contractually due on nonperforming consumer loans and leases classified as nonperforming at December 31, 2006
provided that these loans and leases had been paid according to their terms and conditions. Of this amount, approximately $17 million was received and included in Net
Income for 2006.
Footnote (2)
In 2006, $85 million in Interest Income was estimated to be contractually due on nonperforming commercial loans and leases classified as nonperforming at December 31,
2006, including troubled debt restructured loans of which $2 million were performing at December 31, 2006 and not included in the table above. Approximately $38 million of
the estimated $85 million in contractual interest was received and included in net income for 2006.
Footnote (4)
Balances do not include $30 million, $24 million, $28 million, $16 million, and $41 million of nonperforming consumer loans held-for-sale, included in Other Assets at
December 31, 2006, 2005, 2004, 2003, and 2002, respectively, and $50 million, $45 million, $123 million, $186 million, and $73 million of nonperforming commercial loans
held-for-sale, included in Other Assets at December 31, 2006, 2005, 2004, 2003, and 2002, respectively.
December 31 | |||||
---|---|---|---|---|---|
(Dollars in millions) | 2006 | 2005 | 2004 | 2003 | 2002 |
Consumer | |||||
Residential mortgage (1) |
$ |
$ |
$ |
$ |
$ |
Credit card domestic | 1,991 | 1,197 | 1,075 | 616 | 424 |
Credit card foreign | 184 | | | | |
Direct/Indirect consumer | 347 | 75 | 58 | 47 | 56 |
Other consumer | 38 | 15 | 23 | 35 | 61 |
Total consumer
|
2,678 | 1,287 | 1,156 | 698 | 541 |
Commercial | |||||
Commercial domestic | 265 | 117 | 121 | 110 | 132 |
Commercial real estate | 78 | 4 | 1 | 23 | 91 |
Commercial lease financing | 26 | 15 | 14 | n/a | n/a |
Commercial foreign | 9 | 32 | 2 | 29 | |
Total commercial
|
378 | 168 | 138 | 162 | 223 |
Total accruing loans and leases
past due 90 days or more |
$ |
$ |
$ |
$ |
$ |
Footnote (1)
Balance at December 31, 2006 is related to repurchases pursuant to our servicing agreements with GNMA mortgage pools, which were included in loans held-for-sale in
previous years.
n/a= not available
(Dollars in millions) | 2006 | 2005 | 2004 | 2003 | 2002 |
---|---|---|---|---|---|
Allowance for loan and lease losses, January 1 |
$ |
$ |
$ |
$ |
$ |
FleetBoston balance, April 1, 2004 | | | 2,763 | | |
MBNA balance, January 1, 2006 | 577 | | | | |
Loans and leases charged off | |||||
Residential mortgage | (74) | (58) | (62) | (64) | (56) |
Credit card domestic | (3,546) | (4,018) | (2,536) | (1,657) | (1,210) |
Credit card foreign | (292) | | | | |
Home equity lines | (67) | (46) | (38) | (38) | (40) |
Direct/Indirect consumer | (748) | (380) | (344) | (322) | (355) |
Other consumer | (436) | (376) | (295) | (343) | (395) |
Total consumer
|
(5,163) | (4,878) | (3,275) | (2,424) | (2,056) |
Commercial domestic | (597) | (535) | (504) | (857) | (1,625) |
Commercial real estate | (7) | (5) | (12) | (46) | (45) |
Commercial lease financing | (28) | (315) | (39) | (132) | (168) |
Credit card foreign | (86) | (61) | (262) | (408) | (566) |
Total commercial
|
(718) | (916) | (817) | (1,443) | (2,404) |
Total loans and leases charged off
|
(5,881) | (5,794) | (4,092) | (3,867) | (4,460) |
Recoveries of loans and leases previously charged off | |||||
Residential mortgage | 35 | 31 | 26 | 24 | 14 |
Credit card domestic | 452 | 366 | 231 | 143 | 116 |
Credit card foreign | 67 | | | | |
Home equity lines | 16 | 15 | 23 | 26 | 14 |
Direct/Indirect consumer | 224 | 132 | 136 | 141 | 145 |
Other consumer | 133 | 101 | 102 | 88 | 99 |
Total consumer
|
927 | 645 | 518 | 422 | 388 |
Commercial domestic | 261 | 365 | 327 | 224 | 314 |
Commercial real estate | 4 | 5 | 15 | 5 | 7 |
Commercial lease financing | 56 | 84 | 30 | 8 | 9 |
Credit card foreign | 94 | 133 | 89 | 102 | 45 |
Total commercial
|
415 | 587 | 461 | 339 | 375 |
Total recoveries of loans and leases
previously charged off |
1,342 | 1,232 | 979 | 761 | 763 |
Net charge-offs
|
(4,539) | (4,562) | (3,113) | (3,106) | (3,697) |
Provision for loan and lease losses | 5,001 | 4,021 | 2,868 | 2,916 | 3,801 |
Other | (68) | (40) | (55) | (5) | (24) |
Allowance for loan and lease
losses, December 31 |
9,016 | 8,045 | 8,626 | 6,163 | 6,358 |
Reserve for unfunded lending
commitments, January 1 |
395 | 402 | 416 | 493 | 597 |
FleetBoston balance, April 1, 2004 | | | 85 | | |
Provision for unfunded lending commitments | 9 | (7) | (99) | (77) | (104) |
Other | (7) | | | | |
Reserve for unfunded lending
commitments, December 31 |
397 | 395 | 402 | 416 | 493 |
Total
|
$ |
$ |
$ |
$ |
$ |
Loans and leases outstanding at December 31 |
$ |
$ |
$ |
$ |
$ |
Allowance for loan and lease losses
as a percentage of loans and leases
outstanding at December 31 |
1.28 % |
1.40 % |
1.65 % |
1.66 % |
1.85 % |
Consumer allowance for loan and lease
losses as a percentage of consumer loans
and leases outstanding at December 31 |
1.19 | 1.27 | 1.34 | 1.25 | 0.95 |
Commercial allowance for loan and lease losses as a percentage of commercial
loans and leases outstanding at December 31 |
1.44 | 1.62 | 2.19 | 2.40 | 2.43 |
Average loans and leases outstanding during the year
|
$ |
$ |
$ |
$ |
$ |
Net charge-offs as a percentage of average loans and leases outstanding during the year (1)
|
0.70 % |
0.85 % |
0.66 % |
0.87 % |
1.10 % |
Allowance for loan and lease losses as a percentage of total nonperforming loans
and leases at December 31 |
505 | 532 | 390 | 215 | 126 |
Ratio of the allowance for loan and lease losses at December 31 to net charge-offs (1)
|
1.99 | 1.76 | 2.77 | 1.98 | 1.72 |
Footnote (1)
For 2006, the impact of SOP 03-3 decreased net charge-offs by $288 million. Excluding the impact of SOP 03-3, net charge-offs as a percentage of average loans and leases
outstanding for 2006 was 0.74 percent, and the ratio of the Allowance for Loan and Lease Losses to net charge-offs was 1.87 at December 31, 2006.
December 31 | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
2006 | 2005 | 2004 | 2003 | 2002 | ||||||
(Dollars in millions) | Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent |
Allowance for loan and
lease losses |
||||||||||
Residential mortgage |
$ |
2.8 % |
$ |
3.4 % |
$ |
2.8 % |
$ |
3.0 % |
$ |
1.7 % |
Credit card domestic | 3,176 | 35.2 | 3,301 | 41.0 | 3,148 | 36.5 | 1,947 | 31.6 | 1,031 | 16.2 |
Credit card foreign | 336 | 3.7 | | | | | | | | |
Home equity lines | 133 | 1.5 | 136 | 1.7 | 115 | 1.3 | 72 | 1.2 | 49 | 0.8 |
Direct/Indirect consumer | 1,200 | 13.3 | 421 | 5.2 | 375 | 4.3 | 347 | 5.6 | 361 | 5.7 |
Other consumer | 467 | 5.2 | 380 | 4.8 | 500 | 5.9 | 456 | 7.4 | 332 | 5.2 |
Total consumer | 5,560 | 61.7 | 4,515 | 56.1 | 4,378 | 50.8 | 3,007 | 48.8 | 1,881 | 29.6 |
Commercial domestic | 2,162 | 24.0 | 2,100 | 26.1 | 2,101 | 24.3 | 1,756 | 28.5 | 2,231 | 35.1 |
Commercial real estate | 588 | 6.5 | 609 | 7.6 | 644 | 7.5 | 484 | 7.9 | 439 | 6.9 |
Commercial lease financing | 217 | 2.4 | 232 | 2.9 | 442 | 5.1 | 235 | 3.8 | n/a | n/a |
Commercial foreign | 489 | 5.4 | 589 | 7.3 | 1,061 | 12.3 | 681 | 11.0 | 855 | 13.4 |
Total commercial (1) | 3,456 | 38.3 | 3,530 | 43.9 | 4,248 | 49.2 | 3,156 | 51.2 | 3,525 | 55.4 |
General (2) | | | | | | | | | 952 | 15.0 |
Allowance for
loan and lease losses |
9,016 |
100.0 % |
8,045 |
100.0 % |
8,626 |
100.0 % |
6,163 |
100.0 % |
6,358 |
100.0 % |
Reserve for unfunded lending commitments
|
397 | 395 | 402 | 416 | 493 | |||||
Total
|
$ |
$ |
$ |
$ |
$ |
Footnote (1)
Includes allowance for loan and lease losses of commercial impaired loans of $43 million, $55 million, $202 million, $391 million, and $919 million at December 31, 2006,
2005, 2004, 2003, and 2002, respectively.
Footnote (2)
At December 31, 2005, general reserves were assigned to individual product types to better reflect our view of risk in these portfolios. Information was not available to assign
general reserves by product types prior to 2003.
n/a= Not available; included in Commercial domestic at December 31, 2002.
December 31, 2006 | ||||
---|---|---|---|---|
(Dollars in millions) | Due in One Year or Less |
Due After One Year Through Five Years |
Due After Five Years |
Total |
Commercial domestic |
$ |
$ |
$ |
$ |
Commercial real estatedomestic | 14,562 | 17,774 | 3,344 | 35,680 |
Foreign and other (2) | 22,509 | 4,432 | 496 | 27,437 |
Total selected loans
|
$ |
$ |
$ |
$ |
Percent of total |
41.8 % |
39.3 % |
18.9 % |
100.0 % |
Sensitivity of selected loans to changes in interest rates for loans due after one year:
|
||||
Fixed interest rates
|
$ |
$ |
||
Floating or adjustable interest rates
|
79,969 | 22,611 | ||
Total
|
$ |
$ |
Footnote (2)
Loan maturities include other consumer, Commercial foreign and commercial real estate loans.
2006 | 2005 | 2004 | ||||
---|---|---|---|---|---|---|
(Dollars in millions) | Amount | Rate | Amount | Rate | Amount | Rate |
Federal funds purchased | ||||||
At December 31 |
$ |
5.35 % |
$ |
4.06 % |
$ |
2.23 % |
Average during year | 5,292 | 5.11 | 3,670 | 3.09 | 3,724 | 1.31 |
Maximum month-end balance during year | 12,232 | | 5,964 | | 7,852 | |
Securities sold under agreements to repurchase | ||||||
At December 31 | 205,295 | 4.94 | 237,940 | 4.26 | 116,633 | 2.23 |
Average during year | 281,611 | 4.66 | 227,081 | 3.62 | 161,494 | 1.86 |
Maximum month-end balance during year | 312,955 | | 273,544 | | 191,899 | |
Commercial paper | ||||||
At December 31 | 41,223 | 5.34 | 24,968 | 4.21 | 25,379 | 2.09 |
Average during year | 33,942 | 5.15 | 26,335 | 3.22 | 21,178 | 1.45 |
Maximum month-end balance during year | 42,511 | | 31,380 | | 26,486 | |
Other short-term borrowings | ||||||
At December 31 | 100,077 | 5.43 | 91,301 | 4.58 | 53,219 | 2.48 |
Average during year | 90,287 | 5.21 | 69,322 | 3.51 | 41,169 | 1.73 |
Maximum month-end balance during year | 104,555 | | 91,301 | | 53,756 | |
(Dollars in millions) | Asset Positions |
Liability Positions |
---|---|---|
Net fair value of contracts outstanding, January 1, 2006 |
$ |
$ |
Effects of legally enforceable master netting agreements | 5,636 | 5,636 |
Gross fair value of contracts outstanding, January 1, 2006 | 8,657 | 7,915 |
Contracts realized or otherwise settled | (2,797) | (2,792) |
Fair value of new contracts | 1,182 | 1,127 |
Other changes in fair value | (3,431) | (2,781) |
Gross fair value of contracts outstanding, December 31, 2006 | 3,611 | 3,469 |
Effects of legally enforceable master netting agreements | (2,339) | (2,339) |
Net fair value of contracts outstanding, December 31, 2006
|
$ |
$ |
December 31, 2006 | ||
---|---|---|
(Dollars in millions) | Asset Positions |
Liability Positions |
Maturity of less than 1 year |
$ |
$ |
Maturity of 1-3 years | 1,963 | 1,878 |
Maturity of 4-5 years | 321 | 346 |
Maturity in excess of 5 years | 83 | 80 |
Gross fair value of contracts | 3,611 | 3,469 |
Effects of legally enforceable master netting agreements | (2,339) | (2,339) |
Net fair value of contracts outstanding
|
$ |
$ |
2006 Quarters | 2005 Quarters | |||||||
---|---|---|---|---|---|---|---|---|
(Dollars in millions, except per share information) | Fourth | Third | Second | First | Fourth | Third | Second | First |
Income statement | ||||||||
Net interest income |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Noninterest income | 9,866 | 10,067 | 9,598 | 8,901 | 5,951 | 6,416 | 6,955 | 6,032 |
Total revenue | 18,465 | 18,653 | 18,228 | 17,677 | 13,810 | 14,151 | 14,592 | 13,538 |
Provision for credit losses | 1,570 | 1,165 | 1,005 | 1,270 | 1,400 | 1,159 | 875 | 580 |
Gains (losses) on sales of debt
securities
|
21 | (469) | (9) | 14 | 71 | 29 | 325 | 659 |
Noninterest expense | 9,093 | 8,863 | 8,717 | 8,924 | 7,320 | 7,285 | 7,019 | 7,057 |
Income before income taxes | 7,823 | 8,156 | 8,497 | 7,497 | 5,161 | 5,736 | 7,023 | 6,560 |
Income tax expense | 2,567 | 2,740 | 3,022 | 2,511 | 1,587 | 1,895 | 2,366 | 2,167 |
Net income | 5,256 | 5,416 | 5,475 | 4,986 | 3,574 | 3,841 | 4,657 | 4,393 |
Average common shares issued
and outstanding (in
thousands) |
4,464,110 | 4,499,704 | 4,534,627 | 4,609,481 | 3,996,024 | 4,000,573 | 4,005,356 | 4,032,550 |
Average diluted common shares issued and
outstanding (in thousands) |
4,536,696 | 4,570,558 | 4,601,169 | 4,666,405 | 4,053,859 | 4,054,659 | 4,065,355 | 4,099,062 |
Performance ratios | ||||||||
Return on average assets |
1.39 % |
1.43 % |
1.51 % |
1.43 % |
1.09 % |
1.18 % |
1.46 % |
1.49 % |
Return on average common shareholders' equity
|
15.76 | 16.64 | 17.26 | 15.44 | 14.21 | 15.09 | 18.93 | 17.97 |
Total ending equity to total
ending assets
|
9.27 | 9.22 | 8.85 | 9.41 | 7.86 | 8.12 | 8.13 | 8.16 |
Total average equity to total
average assets
|
8.97 | 8.63 | 8.75 | 9.26 | 7.66 | 7.82 | 7.74 | 8.28 |
Dividend payout | 47.49 | 46.82 | 41.76 | 46.75 | 56.24 | 52.60 | 38.90 | 41.71 |
Per common share data | ||||||||
Earnings |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Diluted earnings | 1.16 | 1.18 | 1.19 | 1.07 | 0.88 | 0.95 | 1.14 | 1.07 |
Dividends paid | 0.56 | 0.56 | 0.50 | 0.50 | 0.50 | 0.50 | 0.45 | 0.45 |
Book value | 29.70 | 29.52 | 28.17 | 28.19 | 25.32 | 25.28 | 25.16 | 24.45 |
Average balance sheet | ||||||||
Total loans and leases |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Total assets | 1,495,150 | 1,497,987 | 1,456,004 | 1,416,373 | 1,305,057 | 1,294,754 | 1,277,478 | 1,200,859 |
Total deposits | 680,245 | 676,851 | 674,796 | 659,821 | 628,922 | 632,771 | 640,593 | 627,420 |
Long-term debt | 140,756 | 136,769 | 125,620 | 117,018 | 99,601 | 98,326 | 96,697 | 96,167 |
Common shareholders' equity | 132,004 | 129,098 | 127,102 | 130,881 | 99,677 | 100,974 | 98,558 | 99,130 |
Total shareholders' equity | 134,047 | 129,262 | 127,373 | 131,153 | 99,948 | 101,246 | 98,829 | 99,401 |
Asset Quality | ||||||||
Allowance for credit losses |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Nonperforming assets | 1,856 | 1,656 | 1,641 | 1,680 | 1,603 | 1,597 | 1,895 | 2,338 |
Allowance for loan and lease losses as a percentage of
total loans and leases outstanding |
1.28 % |
1.33 % |
1.36 % |
1.46 % |
1.40 % |
1.50 % |
1.57 % |
1.57 % |
Allowance for loan and lease losses as a percentage of
total nonperforming loans and leases |
505 | 562 | 579 | 572 | 532 | 556 | 470 | 401 |
Net charge-offs |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Annualized Net charge-offs as a percentage of average
loans and leases |
0.82 % |
0.75 % |
0.65 % |
0.54 % |
1.16 % |
0.84 % |
0.68 % |
0.69 % |
Nonperforming loans and leases as a percentage of
total loans and leases outstanding |
0.25 | 0.24 | 0.23 | 0.26 | 0.26 | 0.27 | 0.33 | 0.39 |
Nonperforming assets as a percentage of total loans,
leases, and foreclosed properties |
0.26 | 0.25 | 0.25 | 0.27 | 0.28 | 0.29 | 0.36 | 0.44 |
Ratio of the allowance for loan and lease losses at period
end to annualized net charge-offs |
1.60 | 1.75 | 2.21 | 2.72 | 1.23 | 1.83 | 2.36 | 2.30 |
Capital ratios (period end) | ||||||||
Risk-based capital: | ||||||||
Tier 1
|
8.64 % |
8.48 % |
8.33 % |
8.45 % |
8.25 % |
8.27 % |
8.16 % |
8.26 % |
Total
|
11.88 | 11.46 | 11.25 | 11.32 | 11.08 | 11.19 | 11.23 | 11.52 |
Tier 1 Leverage | 6.36 | 6.16 | 6.13 | 6.18 | 5.91 | 5.90 | 5.66 | 5.86 |
Market capitalization |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
Market price per share of
common stock |
||||||||
Closing |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
$ |
High closing | 54.90 | 53.57 | 50.47 | 47.08 | 46.99 | 45.98 | 47.08 | 47.08 |
Low closing | 51.66 | 47.98 | 45.48 | 43.09 | 41.57 | 41.60 | 44.01 | 43.66 |
Fourth Quarter 2006 | Third Quarter 2006 | ||||||||
---|---|---|---|---|---|---|---|---|---|
(Dollars in millions) | Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Average Balance |
Interest Income/ Expense |
Yield/ Rate |
|||
Earning assets | |||||||||
Time deposits placed and other short-term investments |
$ |
$ |
4.19 % |
$ |
$ |
4.39 % |
|||
Federal funds sold and securities purchased under agreements to
resell
|
174,167 | 2,068 | 4.73 | 173,381 | 2,146 | 4.94 | |||
Trading account assets | 167,163 | 2,289 | 5.465.46 | 146,817 | 1,928 | 5.24 | |||
Debt securities (1) | 193,601 | 2,504 | 5.17 | 236,033 | 3,136 | 5.31 | |||
Loans and leases (2): | |||||||||
Residential mortgage | 225,985 | 3,202 | 5.66 | 222,889 | 3,151 | 5.65 | |||
Credit card domestic | 59,802 | 2,101 | 13.94 | 62,508 | 2,189 | 13.90 | |||
Credit card foreign | 10,375 | 305 | 11.66 | 9,455 | 286 | 12.02 | |||
Home equity lines | 73,218 | 1,411 | 7.65 | 70,075 | 1,351 | 7.65 | |||
Direct/Indirect consumer (3) | 65,158 | 1,316 | 8.00 | 61,361 | 1,193 | 7.74 | |||
Other consumer (4) | 10,606 | 225 | 8.47 | 11,075 | 298 | 10.66 | |||
Total consumer | 445,144 | 8,560 | 7.65 | 437,363 | 8,468 | 7.71 | |||
Commercial domestic | 158,604 | 2,907 | 7.27 | 153,007 | 2,805 | 7.28 | |||
Commercial real estate (5) | 36,851 | 704 | 7.58 | 37,471 | 724 | 7.67 | |||
Commercial lease financing | 21,159 | 254 | 4.80 | 20,875 | 232 | 4.46 | |||
Commercial foreign | 21,840 | 337 | 6.12 | 24,761 | 454 | 7.27 | |||
Total Commercial | 238,454 | 4,202 | 7.00 | 236,114 | 4,215 | 7.09 | |||
Total loans and leases
|
683,598 | 12,762 | 7.42 | 673,477 | 12,683 | 7.49 | |||
Other earning assets | 65,172 | 1,058 | 6.46 | 57,029 | 914 | 6.38 | |||
Total earning
assets (6) |
1,299,461 | 20,847 | 6.39 | 1,302,366 | 20,980 | 6.41 | |||
Cash and cash equivalents | 32,816 | 33,495 | |||||||
Other assets, less allowance for loan and lease losses |
162,873 | 162,126 | |||||||
Total assets
|
$ |
$ |
|||||||
Interest-bearing liabilities | |||||||||
Domestic interest-bearing deposits: | |||||||||
Savings |
$ |
$ |
0.58 % |
$ |
$ |
0.81 % |
|||
NOW and money
market deposit accounts |
211,055 | 966 | 1.81 | 212,690 | 1,053 | 1.96 | |||
Consumer CDs and IRAs | 154,621 | 1,794 | 4.60 | 147,607 | 1,658 | 4.46 | |||
Negotiable CDs, public
funds and other time deposits |
13,052 | 140 | 4.30 | 14,105 | 150 | 4.19 | |||
Total domestic
interest-bearing deposits |
411,693 | 2,948 | 2.84 | 408,670 | 2,930 | 2.84 | |||
Foreign interest-bearing deposits: | |||||||||
Banks located
in foreign countries |
38,648 | 507 | 5.21 | 38,588 | 562 | 5.78 | |||
Governments and
official institutions |
14,220 | 168 | 4.70 | 12,801 | 156 | 4.83 | |||
Time, savings and other | 41,328 | 366 | 3.50 | 40,444 | 328 | 3.22 | |||
Total foreign
interest-bearing deposits |
94,196 | 1,041 | 4.38 | 91,833 | 1,046 | 4.52 | |||
Total interest-
bearing deposits |
505,889 | 3,989 | 3.13 | 500,503 | 3,976 | 3.15 | |||
Federal funds purchased, securities sold under agreements to
repurchase and other short-term borrowings
|
405,748 | 5,222 | 5.11 | 429,882 | 5,467 | 5.05 | |||
Trading account liabilities | 75,261 | 800 | 4.21 | 69,462 | 727 | 4.15 | |||
Long-term debt | 140,756 | 1,881 | 5.34 | 136,769 | 1,916 | 5.60 | |||
Total interest-
bearing liabilities (6) |
1,127,654 | 11,892 | 4.19 | 1,136,616 | 12,086 | 4.23 | |||
Noninterest-bearing sources: | |||||||||
Noninterest-bearing deposits | 174,356 | 176,348 | |||||||
Other liabilities | 59,093 | 55,761 | |||||||
Shareholders' equity | 134,047 | 129,262 | |||||||
Total liabilities
and shareholders' equity |
$ |
$ |
|||||||
Net interest spread | 2.20 | 2.18 | |||||||
Impact of noninterest- bearing sources
|
0.55 | 0.55 | |||||||
Net interest income/yield on earning assets (7) |
$ |
2.75 % |
$ |
2.73 % |
Footnote (1)
Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.
Footnote (2)
Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
Footnote (3)
Includes home equity loans of $11.7 billion, $9.9 billion, $8.7 billion and $8.2 billion in the fourth, third, second and first quarters of 2006, respectively, and $8.0 billion in the
fourth quarter of 2005.
Footnote (4)
Includes consumer finance loans of $2.8 billion, $2.9 billion, $3.0 billion and $3.0 billion in the fourth, third, second and first quarters of 2006, respectively, and $2.9 billion in
the fourth quarter of 2005; and foreign consumer loans of $7.8 billion, $8.1 billion, $7.8 billion and $7.3 billion in the fourth, third, second and first quarters of 2006,
respectively, and $3.7 billion in the fourth quarter of 2005.
Footnote (5)
Includes domestic commercial real estate loans of $36.1 billion, $36.7 billion, $36.0 billion and $36.0 billion in the fourth, third, second and first quarters of 2006,
respectively, and $35.4 billion in the fourth quarter of 2005.
Footnote (6)
Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(198) million, $(128)
million, $(54) million and $8 million in the fourth, third, second and first quarters of 2006, respectively, and $29 million in the fourth quarter of 2005. Interest expense
includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(69) million, $(48) million, $87
million and $136 million in the fourth, third, second and first quarters of 2006, respectively, and $254 million in the fourth quarter of 2005. For further information on interest
rate contracts, see "Interest Rate Risk Management for Nontrading Activities" beginning on page 76.
Footnote (7)
Interest income (FTE basis) for the three months ended June 30, 2006, does not include the cumulative tax charge resulting from a change in tax legislation relating to
extraterritorial tax income and foreign sales corporation regimes. The FTE impact to Net Interest Income and net interest yield on earning assets of this retroactive tax
adjustment was a reduction of $270 million and 9 bps, respectively, for the three months ended June 30, 2006. Management has excluded this one-time impact to provide a
more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected
to be material.
Second Quarter 2006 | First Quarter 2006 | Fourth Quarter 2005 | |||||||
---|---|---|---|---|---|---|---|---|---|
(Dollars in millions) | Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Average Balance |
Interest Income/ Expense |
Yield/ Rate |
Earning assets | |||||||||
Time deposits placed and other short-term investments |
$ |
$ |
4.05 % |
$ |
$ |
3.92 % |
$ |
$ |
3.59 % |
Federal funds sold and securities purchased under agreements to
resell
|
179,104 | 1,900 | 4.25 | 174,711 | 1,709 | 3.94 | 165,908 | 1,477 | 3.55 |
Trading account assets | 133,556 | 1,712 | 5.13 | 133,361 | 1,623 | 4.89 | 139,441 | 1,648 | 4.72 |
Debt securities (1) | 236,967 | 3,162 | 5.34 | 234,606 | 3,043 | 5.19 | 221,411 | 2,842 | 5.13 |
Loans and leases (2): | |||||||||
Residential mortgage | 197,228 | 2,731 | 5.54 | 184,796 | 2,524 | 5.48 | 178,764 | 2,427 | 5.42 |
Credit card domestic | 64,980 | 2,168 | 13.38 | 68,169 | 2,180 | 12.97 | 56,858 | 1,748 | 12.19 |
Credit card foreign | 8,305 | 269 | 12.97 | 8,403 | 287 | 13.86 | | | |
Home equity lines | 67,182 | 1,231 | 7.35 | 64,198 | 1,112 | 7.02 | 60,571 | 1,011 | 6.63 |
Direct/Indirect consumer (3) | 56,715 | 1,057 | 7.46 | 55,025 | 986 | 7.24 | 47,181 | 703 | 5.91 |
Other consumer (4) | 10,804 | 294 | 294 | 10,357 | 272 | 10.59 | 6,653 | 182 | 11.01 |
Total consumer | 405,214 | 7,750 | 7.66 | 390,948 | 7,361 | 7.60 | 350,027 | 6,071 | 6.90 |
Commercial domestic | 148,445 | 2,695 | 7.28 | 144,693 | 2,490 | 6.97 | 137,224 | 2,279 | 6.59 |
Commercial real estate (5) | 36,749 | 680 | 7.41 | 36,676 | 632 | 6.99 | 36,017 | 597 | 6.58 |
Commercial lease financing | 20,896 | 262 | 5.01 | 20,512 | 247 | 4.82 | 20,178 | 241 | 4.79 |
Commercial foreign | 24,345 | 456 | 7.52 | 23,139 | 427 | 7.48 | 20,143 | 379 | 7.45 |
Total Commercial
|
230,435 | 4,093 | 7.12 | 225,020 | 3,796 | 6.83 | 213,562 | 3,496 | 6.50 |
Total loans and leases
|
635,649 | 11,843 | 7.47 | 615,968 | 11,157 | 7.32 | 563,589 | 9,567 | 6.75 |
Other earning assets | 51,928 | 808 | 6.24 | 46,618 | 718 | 6.22 | 40,582 | 594 | 5.83 |
Total earning
assets (6) |
1,253,895 | 19,593 | 6.26 | 1,219,611 | 18,389 | 6.08 | 1,145,550 | 16,261 | 5.65 |
Cash and cash equivalents | 35,070 | 34,857 | 33,693 | ||||||
Other assets, less allowance for loan and lease losses |
167,039 | 161,905 | 125,814 | ||||||
Total assets |
$ |
$ |
$ |
||||||
Interest-bearing liabilities | |||||||||
Domestic interest-bearing deposits: | |||||||||
Savings |
$ |
$ |
0.84 % |
$ |
$ |
0.87 % |
$ |
$ |
0.76 % |
NOW and money
market deposit accounts |
221,198 | 996 | 1.81 | 227,606 | 908 | 1.62 | 224,122 | 721 | 1.28 |
Consumer CDs and IRAs | 141,408 | 1,393 | 3.95 | 135,068 | 1,177 | 3.53 | 120,321 | 1,028 | 3.39 |
Negotiable CDs, public
funds and other time deposits |
13,005 | 123 | 3.80 | 8,551 | 70 | 3.30 | 5,085 | 27 | 2.13 |
Total domestic interest-bearing deposits |
411,292 | 2,588 | 2.52 | 406,775 | 2,231 | 2.22 | 385,063 | 1,844 | 1.90 |
Foreign interest-bearing deposits: | |||||||||
Banks located
in foreign countries |
32,456 | 489 | 6.05 | 30,116 | 424 | 5.71 | 24,451 | 356 | 5.77 |
Governments and
official institutions |
13,428 | 155 | 4.63 | 10,200 | 107 | 4.25 | 7,579 | 74 | 3.84 |
Time, savings and other | 37,178 | 276 | 2.98 | 35,136 | 245 | 2.83 | 32,624 | 202 | 2.46 |
Total foreign interest-bearing deposits |
83,062 | 920 | 4.44 | 75,452 | 776 | 4.17 | 64,654 | 632 | 3.87 |
Total interest- bearing deposits |
494,354 | 3,508 | 2.85 | 482,227 | 3,007 | 2.53 | 449,717 | 2,476 | 2.18 |
Federal funds purchased, securities sold under agreements to
repurchase and other short-term borrowings
|
408,734 | 4,842 | 4.75 | 399,896 | 4,309 | 4.37 | 364,140 | 3,855 | 4.20 |
Trading account liabilities | 61,263 | 596 | 3.90 | 52,466 | 517 | 3.99 | 56,880 | 619 | 4.32 |
Long-term debt | 125,620 | 1,721 | 5.48 | 117,018 | 1,516 | 5.18 | 99,601 | 1,209 | 4.85 |
Total interest-
bearing liabilities (6) |
1,089,971 | 10,667 | 3.92 | 1,051,607 | 9,349 | 3.60 | 970,338 | 8,159 | 3.34 |
Noninterest-bearing sources: | |||||||||
Noninterest-bearing deposits | 180,442 | 177,594 | 179,205 | ||||||
Other liabilities | 58,218 | 56,019 | 55,566 | ||||||
Shareholders' equity | 127,373 | 131,153 | 99,948 | ||||||
Total liabilities
and shareholders' equity |
$ |
$ |
$ |
||||||
Net interest spread |
2.34 % |
2.48 % |
2.31 % |
||||||
Impact of noninterest- bearing sources
|
0.51 | 0.50 | 0.51 | ||||||
Net interest income/yield on earning assets (7) |
$ |
2.85 % |
$ |
2.98 % |
$ |
2.82 % |