- Attained
near record income from core banking business, increasing net income
to $97.7 million, or $1.93 per diluted share.
- Completed
the branch divestiture initiative with the sale of 34 branches, resulting
in a pre-tax gain of $15.6 million.
- Increased
return on tangible stockholders’ equity to 16.30%.
- Increased
retail fees and charges by 11% to $53.5 million.
- Completed
our commercial banking operations infrastructure development.
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- Launched
a full-service cash management program featuring Internet-based Business
Banker OnlineSM
- Increased
the allowance for losses on loans to $102.5 million from $83.4 million
in response to the uncertain economy.
- Maintained
the “well capitalized” classification for the Company’s banking subsidiary,
which is the highest regulatory standard.
- Repurchased
common stock totaling 7,662,600 shares at a cost of $180.9 million.
- Increased
the quarterly cash dividend on common stock by 14% to $.08 per share
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