EX-99.3 4 g70595ex99-3.txt SECOND QUARTER 2001 UNAUDIED ANALYST INFORMATION 1 EXHIBIT 99.3 Second Quarter 2001 Unaudited Analyst Information 2 UNION PLANTERS CORPORATION ANALYST INFORMATION (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) JUNE 30, 2001 ************* UNAUDITED *************
THREE SIX INCOME STATEMENT MONTHS MONTHS ---------------- -------- ---------- INTEREST INCOME (TE) 623,223 1,280,904 INTEREST EXPENSE 298,550 635,940 NET INTEREST INCOME (TE) 324,673 644,964 LOAN LOSS PROVISION 28,900 54,200 NONINTEREST INCOME INVESTMENT SECURITIES GAINS (LOSSES) 8,330 8,354 TRADING ACCOUNT 2,169 4,887 FOREIGN EXCHANGE (A) (A) TRUST REVENUE 6,988 14,072 MERCHANT SERVICING INCOME 11,303 20,962 MORTGAGE BANKING REVENUE 46,061 87,410 SERVICE CHARGES ON DEPOSITS 56,291 109,707 FACTORING COMMISSIONS AND FEES 9,922 19,080 INVESTMENTS AND INSURANCE INSURANCE COMMISSIONS 4,397 8,508 ANNUITY SALES INCOME 3,076 6,805 BROKERAGE FEE INCOME 4,521 8,342 ATM TRANSACTION FEES 8,023 14,960 GAIN ON SALE OF BRANCHES AND OTHER SELECTED ASSETS 1,252 1,201 OTHER INCOME 24,839 47,797 TOTAL NONINTEREST INCOME 187,172 352,085 NONINTEREST EXPENSE SALARIES AND BENEFITS 133,170 265,513 OCCUPANCY EXPENSE 25,948 51,715 EQUIPMENT EXPENSE 22,489 44,623 GOODWILL AND OTHER INTANGIBLES AMORT.(H) 16,373 32,823 MORTGAGE SERVICING INTANGIBLES 4,145 14,435 UPEXCELL PROJECT EXPENSES 8,034 8,034 OTHER EXPENSES 98,834 181,522 TOTAL NONINTEREST EXPENSE 308,993 598,665 EARNINGS BEFORE TAXES (TE) 173,952 344,184 TAX-EQUIVALENT ADJUSTMENT 8,509 17,774 REPORTED EARNINGS BEFORE TAXES 165,443 326,410 TAXES 56,118 110,718 NET INCOME 109,325 215,692 RETURN ON AVERAGE ASSETS 1.26 1.25 RETURN ON AVERAGE COMMON EQUITY 14.28 14.40 OPERATING EARNINGS(B) 109,144 215,497 CASH OPERATING EARNINGS(C) 123,088 243,362 RETURN ON AVERAGE ASSETS 1.42 1.41 RETURN ON AVERAGE COMMON EQUITY 16.08 16.26 RETURN ON AVERAGE TANGIBLE ASSETS 1.47 1.45 RETURN ON AVERAGE TANGIBLE COMMON EQUITY 23.55 23.95 THREE SIX PER SHARE DATA MONTHS MONTHS -------------- -------- ---------- NET EARNINGS BASIC 0.80 1.57 DILUTED 0.79 1.56 OPERATING EARNINGS BASIC 0.79 1.57 DILUTED 0.79 1.56 CASH OPERATING EARNINGS BASIC 0.90 1.77 DILUTED 0.89 1.76 COMMON DIVIDEND PER SHARE 0.50 1.00 EOP COMMON BOOK VALUE 22.68 EOP COMMON TANGIBLE BOOK VALUE (D) 15.62 HIGH COMMON STOCK PRICE 43.69 43.69 LOW COMMON STOCK PRICE 36.40 34.70 CREDIT QUALITY DATA NONACCRUAL LOANS 223,609 RENEGOTIATED LOANS 1,166 ORE, NET 56,168 FORECLOSED PROPERTY 1,593 TOTAL NONPERFORMING ASSETS 282,536 LOANS 90 DAYS PAST DUE 131,995 FHA/VA GOVERNMENT INSURED/GUARANTEED LOANS NONACCRUAL 2,296 LOANS 90 DAYS PAST DUE 120,362 GROSS CHARGE-OFFS 38,531 74,645 RECOVERIES 11,210 24,724 NET CHARGE-OFFS 27,321 49,921 DECREASE IN ALLOWANCE DUE TO SALE OF LOANS 849 2,616 INCREASE IN ALLOWANCE DUE TO ACQUISITIONS 0 5,753 SHARE INFORMATION EOP SHARES OUTSTANDING (IN THOUSANDS) 137,071 EOP SERIES E PREFERRED SHARES OUTSTANDING 750 EOP SHARES OUTSTANDING ASSUMING CONVERSION OF CONVERTIBLE PREFERRED STOCK 138,009 WEIGHTED AVERAGE SHARES OUTSTANDING BASIC 136,988 136,795 DILUTED 138,608 138,395 COMMON DIVIDENDS 68,499 135,907 PREFERRED DIVIDENDS - SERIES E CONVERTIBLE 379 765 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 3,352,380
3 UNION PLANTERS CORPORATION ANALYST INFORMATION (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA) JUNE 30, 2001 ************* UNAUDITED *************
THREE SIX AVERAGE BALANCE SHEET DATA MONTHS MONTHS -------------------------- ---------- ---------- TOTAL LOANS AND LEASES EXCLUDING FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS(E) 25,499,570 25,203,816 FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS 299,320 294,896 TOTAL SECURITIES 5,532,370 6,080,134 OTHER EARNING ASSETS 358,178 316,666 TOTAL EARNING ASSETS 31,689,438 31,895,512 RESERVE FOR LOANS AND LEASES 342,269 340,482 GOODWILL AND OTHER INTANGIBLES 970,927 966,833 TOTAL ASSETS 34,666,459 34,883,933 MONEY MARKET ACCOUNTS 4,351,669 4,149,658 INTEREST-BEARING CHECKING 3,139,032 3,144,278 SAVINGS DEPOSITS 1,375,179 1,363,149 OTHER CONSUMER TIME 8,604,022 8,559,661 CD'S > $100,000 2,129,634 2,196,118 SHORT-TERM BORROWINGS(F) 4,482,438 5,219,905 INTERMEDIATE AND LONG- TERM BORROWINGS(G) 2,722,685 2,540,541 TOTAL INTEREST-BEARING LIABILITIES 26,804,659 27,173,310 DEMAND DEPOSITS 4,077,740 3,984,400 CONVERTIBLE PREFERRED EQUITY 19,304 19,417 COMMON EQUITY 3,060,709 3,009,178 TOTAL EQUITY 3,080,013 3,028,595 OTHER INFORMATION TAX (BENEFIT) APPLICABLE TO SEC TRANSACTIONS 3,040 3,050 NUMBER OF BANKING SUBSIDIARIES 4 DOMESTIC BANK BRANCHES 821 (FULL SERVICE AND LIMITED SERVICE) NUMBER OF ATM LOCATIONS 1,035 EMPLOYEES (FTE) 12,358 FORECLOSED PROPERTY EXPENSE 1,657 3,102 FORECLOSED PROPERTY INCOME 842 2,163 SIX PERIOD END BALANCE SHEET MONTHS ------------------------ ---------- TOTAL LOANS AND LEASES EXCLUDING FHA/VA GOVERNMENT-INSURED/GUARANTEED LOANS(E) 24,193,443 FHA/VA GOVERNMENT INSURED/ GUARANTEED LOANS 298,239 RESERVE FOR LOANS AND LEASES 342,868 AVAILABLE FOR SALE INVESTMENT SECURITIES AMORTIZED COST 5,194,729 FAIR VALUE 5,280,970 EARNING ASSETS 31,482,805 ASSETS 34,468,079 GOODWILL 807,698 PURCHASED CREDIT CARD RELATIONSHIPS 0 OTHER INTANGIBLES(H) 159,786 TOTAL INTANGIBLES 967,484 MORTGAGE INTANGIBLES 145,440 FOREIGN LOANS (A) DEMAND DEPOSITS 4,201,071 CD'S > $100,000 2,125,325 TOTAL DEPOSITS 23,842,353 SHORT-TERM BORROWINGS(F) 4,003,707 LONG-TERM DEBT SUBORDINATED DEBT-PARENT COMPANY 673,251 SUBORDINATED DEBT-SUBSIDIARY BANK(J) 300,776 TRUST PREFERRED SECURITIES (TruPS) 199,098 ASSET BACKED CERTIFICATES 100,000 SENIOR NOTES(J) 60,000 FEDERAL HOME LOAN BANK ADVANCES(J) 1,461,115 OTHER 2,881 MINORITY INTERESTS 4,688 CONVERTIBLE PREFERRED EQUITY 18,758 COMMON EQUITY 3,109,124 TOTAL EQUITY 3,127,882 UNREALIZED GAIN - NET OF TAX (FAS115) 54,400 CAPITAL ADEQUACY TIER I CAPITAL 2,311,224 TIER II CAPITAL (I) RISK-ADJUSTED ASSETS (I) LEVERAGE RATIO 6.87
4 UNION PLANTERS CORPORATION ANALYST INFORMATION JUNE 30, 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:
AVERAGE BALANCE PERIOD END ---------------------------------- BALANCE THREE MONTHS SIX MONTHS 06/30/2001 ENDED 06/30/2001 ENDED 06/30/2001 ---------- ---------------- ---------------- FEDERAL FUNDS PURCHASED $1,553,005 $1,849,668 $1,965,545 SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE 1,548,717 1,580,184 1,670,169 SHORT-TERM FEDERAL HOME LOAN BANK ADVANCES 900,000 1,050,549 1,581,215 SHORT-TERM SENIOR NOTES 0 0 0 OTHER 1,985 2,037 2,975 ---------- ---------- ---------- $4,003,707 $4,482,438 $5,219,904 ========== ========== ==========
(G) INCLUDES THE FOLLOWING:
AVERAGE BALANCE -------------------------------------- THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, 2001 JUNE 30, 2001 ------------------ ---------------- FEDERAL HOME LOAN BANK ADVANCES* $1,386,592 $1,361,512 SUBORDINATED DEBT-PARENT COMPANY 673,227 516,029 MEDIUM-TERM SENIOR NOTES 60,000 60,000 TRUST PREFERRED SECURITIES (TRuPS) 199,093 199,089 ASSET BASED CERTIFICATES 100,000 100,000 SUBORDINATED DEBT-SUBSIDIARY BANK 300,798 300,819 OTHER LONG-TERM DEBT 2,975 3,092 ---------- ---------- $2,722,685 $2,540,541 ========== ==========
* ORIGINAL MATURITY GREATER THAN ONE YEAR (H) OTHER INTANGIBLES ARE PRIMARILY CORE DEPOSIT PREMIUMS
THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, 2001 JUNE 30, 2001 ------------------------- ------------------------- BEFORE TAX AFTER TAX BEFORE TAX AFTER TAX ---------- --------- ---------- --------- GOODWILL AMORTIZATION $ 12,129 $ 10,355 $ 24,095 $ 20,542 OTHER INTANGIBLES AMORTIZATION 4,244 3,590 8,728 7,323 -------- -------- -------- -------- TOTAL $ 16,373 $ 13,945 $ 32,823 $ 27,865 ======== ======== ======== ========
(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.