EX-99.3 4 g68679ex99-3.txt FIRST QUARTER 2001 UNAUDITED ANALYST INFORMATION 1 EXHIBIT 99.3 First Quarter 2001 Unaudited Analyst Information 2 UNION PLANTERS CORPORATION SUPPLEMENTAL INFORMATION (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) UNAUDITED MARCH 31, 2001
THREE INCOME STATEMENT MONTHS -------------------- ------- INTEREST INCOME (TE) 657,683 INTEREST EXPENSE 337,391 NET INTEREST INCOME (TE) 320,292 LOAN LOSS PROVISION 25,300 NONINTEREST INCOME INVESTMENT SECURITIES GAINS 25 TRADING ACCOUNT 2,718 FOREIGN EXCHANGE (A) TRUST REVENUE 7,084 BANK CARD INCOME 9,660 MORTGAGE BANKING REVENUE 39,093 SERVICE CHARGES ON DEPOSITS 53,416 FACTORING COMMISSIONS 7,399 INSURANCE COMMISSIONS 4,112 ANNUITY SALES INCOME 3,728 BROKERAGE FEE INCOME 3,821 NET SOI REVENUES 6,046 ATM TRANSACTION FEES 6,936 LOSS ON SALE OF BRANCHES AND OTHER SELECTED ASSETS (51) OTHER INCOME 20,927 TOTAL NONINTEREST INCOME 164,914 NONINTEREST EXPENSE SALARIES AND BENEFITS 132,343 OCCUPANCY EXPENSE 25,767 EQUIPMENT EXPENSE 22,134 GOODWILL AND OTHER INTANGIBLES AMORT. (H) 16,451 AMORTIZATION OF MORTGAGE SERV. RIGHTS/LOSS IMPAIRMENT 10,291 OTHER EXPENSES 82,686 TOTAL NONINTEREST EXPENSE 289,672 EARNINGS BEFORE TAXES (TE) 170,234 TAX-EQUIVALENT ADJUSTMENT 9,266 REPORTED EARNINGS BEFORE TAXES 160,968 TAXES 54,601 NET INCOME 106,367 RETURN ON AVERAGE ASSETS 1.23 RETURN ON AVERAGE COMMON EQUITY 14.53 OPERATING EARNINGS (B) 106,352 RETURN ON AVERAGE ASSETS 1.23 RETURN ON AVERAGE COMMON EQUITY 14.53 CASH OPERATING EARNINGS (C) 120,272 RETURN ON AVERAGE ASSETS 1.39 RETURN ON AVERAGE COMMON EQUITY 16.44 RETURN ON AVERAGE TANGIBLE ASSETS 1.43 RETURN ON AVERAGE TANGIBLE COMMON EQUITY 24.38 PER SHARE DATA -------------- NET EARNINGS BASIC .78 DILUTED .77 OPERATING EARNINGS BASIC .78 DILUTED .77 CASH OPERATING EARNINGS BASIC .88 DILUTED .87 COMMON DIVIDEND PER SHARE .50 EOP COMMON BOOK VALUE 22.39 EOP COMMON TANGIBLE BOOK VALUE (D) 15.23 HIGH COMMON STOCK PRICE 39.12 LOW COMMON STOCK PRICE 34.70 CREDIT QUALITY DATA ------------------- NONACCRUAL LOANS 174,027 RENEGOTIATED LOANS 1,401 ORE, NET 54,819 FORECLOSED PROPERTY 2,016 TOTAL NONPERFORMING ASSETS 232,263 LOANS 90 DAYS PAST DUE 109,705 FHA/VA GOVERNMENT INSURED/GUARANTEED LOANS NONACCRUAL 3,216 LOANS 90 DAYS PAST DUE 129,776 GROSS CHARGE-OFFS 36,114 RECOVERIES 13,514 NET CHARGE-OFFS 22,600 DECREASE IN ALLOWANCE DUE TO SALE OF LOANS 1,767 INCREASE IN ALLOWANCE DUE TO ACQUISITIONS 5,753 SHARE INFORMATION ----------------- EOP SHARES OUTSTANDING (IN THOUSANDS) 137,051 EOP SERIES E PREFERRED SHARES OUTSTANDING 778 EOP SHARES OUTSTANDING ASSUMING CONVERSION OF CONVERTIBLE PREFERRED STOCK 138,023 WEIGHTED AVERAGE SHARES OUTSTANDING BASIC 136,600 DILUTED 138,179 COMMON DIVIDENDS 67,408 PREFERRED DIVIDENDS - SERIES E CONVERTIBLE 386 DATE OF LAST CASH DIVIDEND INCREASE (QUARTERLY 1-15-98 DIVIDEND WAS INCREASED TO $.50 PER SHARE) PARENT COMPANY DATA ------------------- PARENT COMPANY GOODWILL 0 PARENT COMPANY EQUITY INVESTMENT IN SUBS 3,238,532
3 UNION PLANTERS CORPORATION SUPPLEMENTAL INFORMATION (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) March 31, 2001 --------- UNAUDITED --------- THREE AVERAGE BALANCE SHEET DATA MONTHS -------------------------- ---------- TOTAL LOANS AND LEASES EXCLUDING FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS (E) 24,904,776 FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS 290,423 TOTAL SECURITIES 6,633,985 OTHER EARNING ASSETS 274,693 TOTAL EARNING ASSETS 32,103,877 RESERVE FOR LOANS AND LEASES 338,675 GOODWILL AND OTHER INTANGIBLES 962,693 TOTAL ASSETS 35,103,823 MONEY MARKET ACCOUNTS 3,945,402 INTEREST-BEARING CHECKING 3,149,582 SAVINGS DEPOSITS 1,350,986 OTHER CONSUMER TIME 8,514,807 CD'S > $100,000 2,263,341 SHORT-TERM BORROWINGS (F) 5,965,566 INTERMEDIATE AND LONG- TERM BORROWINGS (G) 2,356,374 TOTAL INTEREST-BEARING LIABILITIES 27,546,058 DEMAND DEPOSITS 3,890,023 CONVERTIBLE PREFERRED EQUITY 19,532 COMMON EQUITY 2,957,073 TOTAL EQUITY 2,976,605 OTHER INFORMATION ----------------- TAX (BENEFIT) APPLICABLE TO SEC TRANSACTIONS 10 NUMBER OF BANKING SUBSIDIARIES 4 DOMESTIC BANK BRANCHES 835 (FULL SERVICE AND LIMITED SERVICE) NUMBER OF ATM LOCATIONS 1,068 EMPLOYEES (FTE) 12,608 EXPENSE RATIO 1.25 EFFICIENCY RATIO 56.31 CAPITAL ADEQUACY ---------------- TIER I CAPITAL 2,255,613 TIER II CAPITAL (I) RISK-ADJUSTED ASSETS (I) LEVERAGE RATIO 6.61 PERIOD END BALANCE SHEET ------------------------ TOTAL LOANS AND LEASES EXCLUDING FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS (E) 24,294,794 FHA/VA GOVERNMENT INSURED/ GUARANTEED LOANS 303,177 RESERVE FOR LOANS AND LEASES 342,138 AVAILABLE FOR SALE INVESTMENT SECURITIES AMORTIZED COST 6,432,965 FAIR VALUE 6,523,197 EARNING ASSETS 32,468,625 ASSETS 35,423,470 GOODWILL 817,668 PURCHASED CREDIT CARD RELATIONSHIPS 0 OTHER INTANGIBLES (H) 163,072 TOTAL INTANGIBLES 980,740 MORTGAGE SERVICING RIGHTS 118,551 FOREIGN LOANS (A) DEMAND DEPOSITS 4,047,894 CD'S > $100,000 2,182,318 TOTAL DEPOSITS 23,605,227 SHORT-TERM BORROWINGS (F) 5,301,437 LONG-TERM DEBT SUBORDINATED DEBT-PARENT COMPANY 673,202 SUBORDINATED DEBT-SUBSIDIARY BANK (J) 300,822 TRUST PREFERRED SECURITIES (TruPS) 199,089 ASSET BACKED CERTIFICATES 100,000 SENIOR NOTES (J) 60,000 FEDERAL HOME LOAN BANK ADVANCES (J) 1,361,452 OTHER 3,101 MINORITY INTERESTS 4,688 CONVERTIBLE PREFERRED EQUITY 19,445 COMMON EQUITY 3,068,662 TOTAL EQUITY 3,088,107 UNREALIZED LOSS - NET OF TAX (FAS115) 56,881
4 UNION PLANTERS CORPORATION SUPPLEMENTAL INFORMATION MARCH 31, 2001 NOTES ----------------------------------------- (A) NOT PRESENTED DUE TO IMMATERIALITY. (B) EARNINGS BEFORE NONOPERATING ITEMS, NET OF TAXES. (C) EARNINGS BEFORE GOODWILL AND OTHER INTANGIBLES AMORTIZATION, AND NONOPERATING ITEMS, NET OF TAXES. (D) CALCULATED DEDUCTING GOODWILL AND ALL OTHER INTANGIBLES. DOES NOT DEDUCT MORTGAGE SERVICING RIGHTS. (E) AMOUNTS SHOWN FOR AVERAGE LOANS ARE NET OF UNEARNED AND GROSS OF RESERVE AND INCLUDE LOANS HELD FOR RESALE. AMOUNTS SHOWN FOR PERIOD END LOANS ARE NET OF UNEARNED AND GROSS OF RESERVE BUT DO NOT INCLUDE LOANS HELD FOR RESALE. (F) INCLUDES THE FOLLOWING:
PERIOD END AVERAGE BALANCE BALANCE THREE MONTHS ENDED 03/31/01 03/31/01 ---------- ------------------ FEDERAL FUNDS PURCHASED $2,168,637 $2,082,711 SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE 1,630,697 1,761,154 SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES 1,500,000 2,117,778 SHORT-TERM SENIOR NOTES 0 0 OTHER 2,103 3,923 ---------- ---------- $5,301,437 $5,965,566 ========== ==========
(G) INCLUDES THE FOLLOWING: AVERAGE BALANCE
AVERAGE BALANCE THREE MONTHS ENDED 03/31/01 ------------------ FEDERAL HOME LOAN BANK ADVANCES* $1,336,153 SUBORDINATED DEBT-PARENT COMPANY 357,085 MEDIUM-TERM SENIOR NOTES 60,000 TRUST PREFERRED SECURITIES (TRuPS) 199,084 ASSET BASED CERTIFICATES 100,000 SUBORDINATED DEBT-SUBSIDIARY BANK 300,840 OTHER LONG-TERM DEBT 3,212 ----------- $2,356,374 =========== * ORIGINAL MATURITY GREATER THAN ONE YEAR
(H) OTHER INTANGIBLES ARE PRIMARILY CORE DEPOSIT PREMIUMS
THREE MONTHS ENDED MARCH 31, 2001 ------------------------------ BEFORE TAX AFTER TAX ---------- ---------- GOODWILL AMORTIZATION $ 11,966 $ 10,187 OTHER INTANGIBLES AMORTIZATION 4,485 3,733 ---------- ---------- TOTAL $ 16,451 $ 13,920 ========== ==========
(I) AVAILABLE 45 DAYS AFTER QUARTER END. (J) OBLIGATIONS OF SUBSIDIARY BANKS. (K) ON FEBRUARY 12, 2001, UNION PLANTERS ACQUIRED JEFFERSON SAVINGS BANCORP, INC. OF BALLWIN, MISSOURI, THE PARENT OF JEFFERSON HERITAGE BANK, A FEDERAL SAVINGS BANK. UNION PLANTERS EXCHANGED APPROXIMATELY 4.4 MILLION SHARES OF ITS COMMON STOCK FOR ALL OF THE OUTSTANDING SHARES OF JEFFERSON SAVINGS. THE ACQUISITION WAS ACCOUNTED FOR AS A PURCHASE. TE = TAXABLE-EQUIVALENT FTE = FULL-TIME EQUIVALENT A BALANCE SHEET, INCOME STATEMENT, AND OTHER SUPPLEMENTAL DATA MAY BE VIEWED ON OUR WEB SITE AT WWW.UNIONPLANTERS.COM. CLICK ON THE 'FINANCIAL REPORTS' BUTTON, THEN ON THE 'INVESTOR INFORMATION' BUTTON.