| |
($ in thousands, except per share data)
| |
|
Years Ended
December 31,
|
Five-Year
Compound
Growth
Rate |
| |
2002 |
|
2001 |
2000 |
1999 |
1998 |
1997 |
|
| INCOME STATEMENT DATA |
| Net interest income (a) |
$218,252 |
|
$174,777 |
$167,111 |
$174,614 |
$149,341 |
$117,833 |
13.1 % |
| Provision for loan losses |
22,266 |
|
22,045 |
23,378 |
18,273 |
15,646 |
14,642 |
8.7 |
| Noninterest income (a) |
59,640 |
|
53,484 |
48,545 |
59,649 |
34,924 |
29,576 |
15.1 |
| Noninterest expenses (a) (c) |
156,176 |
|
141,321 |
152,340 |
147,674 |
109,857 |
94,214 |
10.6 |
| Merger-related
costs (recoveries) |
6,664 |
|
(501) |
|
29,198 |
7,155 |
3,526 |
— |
n/m |
| Net income |
59,158 |
|
41,892 |
6,989 |
40,450 |
34,656 |
24,722 |
19.1 |
|
| PER COMMON SHARE DATA |
| Net income - basic |
$1.42 |
|
$ 1.00 |
$ 0.16 |
$ 0.95 |
$ 0.90 |
$ 0.79 |
12.4 % |
| Net income - diluted |
1.38 |
|
0.98 |
0.16 |
0.93 |
0.87 |
077 |
12.4 |
| Book value (December 31) |
13.66 |
|
11.11 |
11.04 |
11.55 |
10.64 |
8.32 |
10.4 |
| Market price (December 31) |
20.66 |
|
17.75 |
13.25 |
18.25 |
25.31 |
21.50 |
(0.8) |
| Cash dividends declared |
0.50 |
|
0.45 |
0.41 |
0.37 |
0.33 |
0.29 |
11.5 |
| Dividend payout ratio |
36.23 |
% |
| 45.92 |
% |
256.25 |
% |
39.78 |
% |
37.93 |
% |
37.66 |
% |
|
|
| BALANCE SHEET DATA (YEAR END) |
| Total assets |
$7,941,010 |
|
$6,029,442 |
$5,220,554 |
$4,768,656 |
$4,136,647 |
$3,420,794 |
18.3 % |
| Loans |
4,501,229 |
|
3,736,763 |
3,735,182 |
3,291,720 |
2,841,077 |
2,474,122 |
12.7 |
| Allowance for loan losses (b) |
70,275 |
|
44,587 |
43,024 |
33,756 |
29,812 |
25,736 |
22.3 |
| Total earning assets |
7,127,160 |
|
5,479,252 |
4,651,807 |
4,262,837 |
3,664,392 |
3,085,473 |
18.2 |
| Deposits |
4,592,510 |
|
3,605,255 |
3,894,662 |
3,481,651 |
3,302,523 |
2,811,139 |
10.3 |
| Long-term debt |
1,221,511 |
|
411,294 |
318,326 |
314,279 |
116,125 |
94,665 |
66.8 |
| Shareholders' equity |
646,799 |
|
458,174 |
468,653 |
500,590 |
450,989 |
295,898 |
16.9 |
| Nonperforming assets (b) |
74,186 |
|
43,857 |
21,514 |
13,972 |
9,119 |
5,687 |
67.1 |
|
| BALANCE SHEET DATA (AVERAGES) |
| Total assets |
$6,497,607 |
|
$5,459,515 |
$5,032,700 |
$4,282,274 |
$3,726,204 |
$2,835,578 |
18.0 % |
| Loans |
4,008,094 |
|
3,769,358 |
3,545,336 |
3,045,913 |
2,577,018 |
2,066,592 |
14.2 |
| Total earning assets |
5,924,077 |
|
4,928,970 |
4,450,016 |
3,820,904 |
3,384,157 |
2,588,037 |
18.0 |
| Deposits |
3,855,929 |
|
3,688,250 |
3,699,553 |
3,373,282 |
3,050,268 |
2,331,167 |
10.6 |
| Shareholders' equity |
497,341 |
|
483,634 |
479,800 |
483,214 |
371,707 |
209,178 |
18.9 |
|
| FINANCIAL RATIOS |
| Net interest margin (tax-equivalent)(a) |
3.72 |
% |
3.59 % |
3.81 % |
4.62 % |
4.46 % |
4.60 % |
|
| Return on average assets |
0.91 |
|
0.77 |
0.14 |
0.94 |
0.93 |
0.87 |
|
| Return on average equity |
11.89 |
|
8.66 |
1.46 |
8.37 |
9.32 |
11.82 |
|
| Average equity as a % of average
assets |
7.65 |
|
8.86 |
9.53 |
11.28 |
9.98 |
7.38 |
|
|
| ASSET QUALITY RATIOS |
| Nonperforming assets as a % of loans
and other real estate owned (b) |
1.67 |
% |
1.17 % |
0.58 % |
0.43 % |
0.33 % |
0.25 % |
|
| Net charge-offs to average loans |
0.49 |
|
0.54 |
0.39 |
0.39 |
0.52 |
0.63 |
|
| Allowance for loan losses as a %
of loans held for investment (b) |
1.58 |
|
1.20 |
1.16 |
1.04 |
1.09 |
1.15 |
|
|
| OPERATIONS DATA |
| Branch offices |
117 |
|
90 |
94 |
108 |
104 |
87 |
|
| Employees (full-time equivalent) |
1,700 |
|
1,346 |
1,374 |
1,514 |
1,345 |
1,184 |
|
Notes:
-
Net interest income, noninterest expenses were reclassified
in 2001 and 2000 for the deferral of loan fees and related
expenses.
-
At December 31, 2002, Rock Hill Bank & Trust Workout Loans totaled
$72.4 million with nonperforming assets of $29.2 million and
an allowance for loan losses of $16.3 million. Excluding these
balances, non performing assets as a % of loans and other real
estate owned totaled 1.03%, and the allowance for the loan losses
as a % of loans held for investment was 1.24%.
- Excluding merger-related costs (recoveries).
|
|
