Commerce Bancorp, Inc. and Subsidiaries
Consolidated Balance Sheets
(unaudited)
		September 30,			June 30,			Linked Quarter			September 30,
	(dollars in thousands)	2006			2006			% Change			2005			% Change
Assets	Cash and due from banks	$	1,291,070		$	1,409,537			(8	)%	$	1,345,080			(4	)%
	Federal funds sold		6,800			56,600			(88	)		14,500			(53	)
	Cash and cash equivalents		1,297,870			1,466,137			(11	)		1,359,580			(5	)
	Loans held for sale		79,854			43,825			82			85,372			(6	)
	Trading securities		92,622			91,148			2			150,847			(39	)
	Securities available for sale		10,800,173			11,074,128			(2	)		8,965,121			20
	Securities held to maturity		14,245,638			14,415,921			(1	)		12,961,900			10
	Loans:
	Commercial real estate:
	Investor developer		2,356,162			2,329,475			1			1,657,101			42
	Residential construction		315,024			320,749			(2	)		256,198			23
			2,671,186			2,650,224			1			1,913,299			40
	Commercial loans:
	Term		2,120,086			2,028,761			5			1,629,366			30
	Line of credit		1,752,938			1,702,539			3			1,345,536			30
	Demand		0			0			0			0			0
			3,873,024			3,731,300			4			2,974,902			30
	Owner-occupied		2,729,172			2,613,555			4			2,313,175			18
			6,602,196			6,344,855			4			5,288,077			25
	Consumer:
	Mortgages (1-4 family residential)		2,208,454			2,198,114			0			1,621,419			36
	Installment		267,158			265,639			1			203,055			32
	Home equity		2,834,562			2,714,150			4			2,177,317			30
	Credit lines		113,939			100,544			13			86,256			32
			5,424,113			5,278,447			3			4,088,047			33
	Total loans		14,697,495			14,273,526			3			11,289,423			30
	Less allowance for loan losses		146,791	*		140,746	*		4			138,903			6
			14,550,704			14,132,780			3			11,150,520			30
	Bank premises and equipment, net		1,577,738			1,494,333			6			1,217,222			30
	Goodwill and other intangible assets		147,653			148,846			(1	)		8,824			1,573
	Other assets		511,258			569,181			(10	)		394,154			30
	Total assets	$	43,303,510		$	43,436,299			(0	)%	$	36,293,540			19	%
Liabilities	Deposits:
	Demand:
	Noninterest-bearing	$	8,649,757		$	8,653,739			(0	)%	$	7,827,651			11	%
	Interest-bearing		15,692,939			14,269,002			10			13,133,145			19
	Savings		10,646,687			10,765,985			(1	)		8,676,201			23
	Time		5,152,278			4,361,036			18			3,606,689			43
	Total deposits		40,141,661			38,049,762			5			33,243,686			21
	Other borrowed money		118,400			2,568,445			(95	)		703,227			(83	)
	Other liabilities		328,088			291,732			12			232,266			41
	Long-term debt		0			0			0			0			0
			40,588,149			40,909,939			(1	)		34,179,179			19
Stockholders'	Common stock		188,135			186,662			1			173,784			8
Equity	Capital in excess of par value		1,689,262			1,646,984			3			1,263,180			34
	Retained earnings		920,450			863,229			7			725,215			27
	Accumulated other comprehensive (loss) income		(63,829	)		(154,043	)		(59	)		(35,108	)		82
			2,734,018			2,542,832			8			2,127,071			29
	Less treasury stock, at cost		18,657			16,472			13			12,710			47
	Total stockholders' equity		2,715,361			2,526,360			7			2,114,361			28
	Total liabilities and stockholders' equity	$	43,303,510		$	43,436,299			(0	)%	$	36,293,540			19	%
* Net of $7.8 million, September 2006, and $7.6 million, June 2006, Allowance for Unfunded Credit Commitments included in Other Liabilities

Commerce Bancorp, Inc. and Subsidiaries
Consolidated Balance Sheets
(unaudited)
		September 30,			June 30, 2006									September 30, 2005
	(dollars in thousands)	2006			Actual			$ Change			% Change			Actual			$ Change			% Change
Assets	Cash and due from banks	$	1,291,070		$	1,409,537			($118,467	)		(8	)%	$	1,345,080			($54,010	)		(4	)%
	Federal funds sold		6,800			56,600			(49,800	)		(88	)		14,500			(7,700	)		(53	)
	Cash and cash equivalents		1,297,870			1,466,137			(168,267	)		(11	)		1,359,580			(61,710	)		(5	)
	Loans held for sale		79,854			43,825			36,029			82			85,372			(5,518	)		(6	)
	Trading securities		92,622			91,148			1,474			2			150,847			(58,225	)		(39	)
	Securities available for sale		10,800,173			11,074,128			(273,955	)		(2	)		8,965,121			1,835,052			20
	Securities held to maturity		14,245,638			14,415,921			(170,283	)		(1	)		12,961,900			1,283,738			10
	Loans		14,697,495			14,273,526			423,969			3			11,289,423			3,408,072			30
	Less allowance for loan losses		146,791	*		140,746	*		6,045			4			138,903			7,888			6
			14,550,704			14,132,780			417,924			3			11,150,520			3,400,184			30
	Reserve %		1.05	%		1.04	%								1.23	%
	Bank premises and equipment, net		1,577,738			1,494,333			83,405			6			1,217,222			360,516			30
	Other assets		658,911			718,027			(59,116	)		(8	)		402,978			255,933			64
	Total assets	$	43,303,510		$	43,436,299			($132,789	)		(0	)%	$	36,293,540		$	7,009,970			19	%
Liabilities	Deposits:
	Demand:
	Noninterest-bearing	$	8,649,757		$	8,653,739			($3,982	)		(0	)%	$	7,827,651		$	822,106			11	%
	Interest-bearing		15,692,939			14,269,002			1,423,937			10			13,133,145			2,559,794			19
	Savings		10,646,687			10,765,985			(119,298	)		(1	)		8,676,201			1,970,486			23
	Time		5,152,278			4,361,036			791,242			18			3,606,689			1,545,589			43
	Total deposits		40,141,661			38,049,762			2,091,899			5			33,243,686			6,897,975			21
	Core deposits		38,538,568			36,783,874			1,754,694			5			32,370,994			6,167,574			19
	Total other liabilities		446,488			2,860,177			(2,413,689	)		(84	)		935,493			(489,005	)		(52	)
			40,588,149			40,909,939			(321,790	)		(1	)		34,179,179			6,408,970			19
			2,715,361			2,526,360			189,001			7			2,114,361			601,000			28
Stockholders' Equity
	Total liabilities and stockholders' equity	$	43,303,510		$	43,436,299			($132,789	)		(0	)%	$	36,293,540		$	7,009,970			19	%
* Net of $7.8 million, September 2006, and $7.6 million, June 2006, Allowance for Unfunded Credit Commitments included in Other Liabilities

 

Commerce Bancorp, Inc. and Subsidiaries
Consolidated Balance Sheets
(unaudited)
		September 30,			December 31,
	(dollars in thousands)	2006			2005
Assets	Cash and due from banks	$	1,291,070		$	1,284,064
	Federal funds sold		6,800			12,700
	Cash and cash equivalents		1,297,870			1,296,764
	Loans held for sale		79,854			30,091
	Trading securities		92,622			143,016
	Securities available for sale		10,800,173			9,518,821
	Securities held to maturity		14,245,638			13,005,364
	(market value 9/06-$13,974,804; 2005-$12,758,552)
	Loans		14,697,495			12,658,652
	Less allowance for loan losses		146,791			133,664
			14,550,704			12,524,988
	Bank premises and equipment, net		1,577,738			1,378,786
	Goodwill and other intangible assets		147,653			106,926
	Other assets		511,258			461,281
	Total assets	$	43,303,510		$	38,466,037
Liabilities	Deposits:
	Demand:
	Noninterest-bearing	$	8,649,757		$	8,019,878
	Interest-bearing		15,692,939			13,286,678
	Savings		10,646,687			9,486,712
	Time		5,152,278			3,933,445
	Total deposits		40,141,661			34,726,713
	Other borrowed money		118,400			1,106,443
	Other liabilities		328,088			323,708
	Long-term debt		0			0
			40,588,149			36,156,864
Stockholders'	Common stock, 188,135,291 shares issued (179,498,717 shares in 2005)		188,135			179,499
Equity	Capital in excess of par value		1,689,262			1,450,843
	Retained earnings		920,450			750,710
	Accumulated other comprehensive (loss) income		(63,829	)		(59,169	)
			2,734,018			2,321,883
	Less treasury stock, at cost, 1,006,804 shares (837,338 shares in 2005)		18,657			12,710
	Total stockholders' equity		2,715,361			2,309,173
	Total liabilities and stockholders' equity	$	43,303,510		$	38,466,037

Commerce Bancorp, Inc. and Subsidiaries
Consolidated Statements of Income
(unaudited)
		Three Months Ended							Nine Months Ended
		September 30,							September 30,
(dollars in thousands, except per share amounts)		2006		2005		% Change			2006		2005		% Change
Interest	Interest and fees on loans	$	255,663	$	178,878		43	%	$	707,527	$	485,935		46	%
income	Interest on investments		339,825		243,187		40			959,923		703,103		37
	Other interest		1,918		1,774		8			2,581		2,979		(13	)
	Total interest income		597,406		423,839		41			1,670,031		1,192,017		40
Interest	Interest on deposits:
expense	Demand		132,349		68,100		94			348,374		168,526		107
	Savings		70,320		35,215		100			188,481		77,553		143
	Time		52,375		26,114		101			129,810		66,793		94
	Total interest on deposits		255,044		129,429		97			666,665		312,872		113
	Interest on other borrowed money		20,392		4,697		334			54,529		16,024		240
	Interest on long-term debt		0		2,339		(100	)		0		8,379		(100	)
	Total interest expense		275,436		136,465		102			721,194		337,275		114
	Net interest income		321,970		287,374		12			948,837		854,742		11
	Provision for credit losses		9,499		3,000		217			23,500		13,750		71
	Net interest income after provision for credit losses		312,471		284,374		10			925,337		840,992		10
Noninterest	Deposit charges and service fees		97,436		72,302		35			271,370		201,068		35
income	Other operating income		53,121		46,763		14			153,145		131,532		16
	Net investment securities (losses) gains		0		5,714		(100	)		0		11,511		(100	)
	Total noninterest income		150,557		124,779		21			424,515		344,111		23
	Total Revenues		472,527		412,153		15			1,373,352		1,198,853		15
Noninterest	Salaries and benefits		156,105		134,149		16			451,560		381,002		19
expense	Occupancy		49,534		41,873		18			141,261		118,976		19
	Furniture and equipment		41,543		32,371		28			117,159		90,192		30
	Office		15,213		14,871		2			45,084		40,125		12
	Marketing		10,712		12,460		(14	)		30,222		26,717		13
	Other		70,362		52,858		33			207,301		168,475		23
	Total noninterest expenses		343,469		288,582		19			992,587		825,487		20
	Income before income taxes		119,559		120,571		(1	)		357,265		359,616		(1	)
	Provision for federal and state income taxes		39,890		41,116		(3	)		120,779		123,615		(2	)
	Net income	$	79,669	$	79,455		0	%	$	236,486	$	236,001		0	%
	Net income per common and common equivalent share:
	Basic	$	0.43	$	0.48		(10	)%	$	1.29	$	1.45		(11	)%
	Diluted	$	0.41	$	0.45		(9	)	$	1.23	$	1.36		(10	)
	Average common and common equivalent shares outstanding:
	Basic		186,527		165,701		13			183,981		162,947		13
	Diluted		194,754		180,360		8			192,872		177,951		8
	Cash dividends, common stock	$	0.12	$	0.11		9	%	$	0.36	$	0.33		9	%

Commerce Bancorp, Inc. and Subsidiaries
Consolidated Statements of Income
(unaudited)
		Three Months Ended
		September 30,			June 30,						September 30,
	(dollars in thousands, except per share amounts)	2006			2006			% Change			2005			% Change
Interest	Interest and fees on loans	$	255,663		$	236,890			8	%	$	178,878			43	%
income	Interest on investments		339,825			325,022			5			243,187			40
	Other interest		1,918			250			667			1,774			8
	Total interest income		597,406			562,162			6			423,839			41
Interest	Interest on deposits:
expense	Demand		132,349			118,085			12			68,100			94
	Savings		70,320			64,157			10			35,215			100
	Time		52,375			41,174			27			26,114			101
	Total interest on deposits		255,044			223,416			14			129,429			97
	Interest on other borrowed money		20,392			19,809			3			4,697			334
	Interest on long-term debt		0			0			0			2,339			(100	)
	Total interest expense		275,436			243,225			13			136,465			102
	Net interest income		321,970			318,937			1			287,374			12
	Provision for credit losses		9,499			7,500			27			3,000			217
	Net interest income after provision for credit losses		312,471			311,437			0			284,374			10
Noninterest	Deposit charges and service fees		97,436			91,653			6			72,302			35
income	Other operating income		53,121			51,303			4			46,763			14
	Net investment securities (losses) gains		0			0			0			5,714			(100	)
	Total noninterest income		150,557			142,956			5			124,779			21
	Total Revenues		472,527			461,893			2			412,153			15
Noninterest	Salaries and benefits		156,105			150,630			4			134,149			16
expense	Occupancy		49,534			45,487			9			41,873			18
	Furniture and equipment		41,543			39,656			5			32,371			28
	Office		15,213			14,398			6			14,871			2
	Marketing		10,712			11,699			(8	)		12,460			(14	)
	Other		70,362			71,914			(2	)		52,858			33
	Total noninterest expenses		343,469			333,784			3			288,582			19
	Income before income taxes		119,559			120,609			(1	)		120,571			(1	)
	Provision for federal and state income taxes		39,890			41,089			(3	)		41,116			(3	)
	Net income	$	79,669		$	79,520			0	%	$	79,455			0	%
	Net income per common and common equivalent share:
	Basic	$	0.43		$	0.43			0	%	$	0.48			(10	)%
	Diluted	$	0.41		$	0.41			0		$	0.45			(9	)
	Average common and common equivalent shares outstanding:
	Basic		186,527			184,437			1			165,701			13
	Diluted		194,754			193,842			0			180,360			8
	Cash dividends, common stock	$	0.12		$	0.12			0	%	$	0.11			9	%
	Return on average assets		0.74	%		0.76	%					0.92	%
	Return on average equity		12.06			12.83						16.62

Commerce Bancorp, Inc.
Selected Consolidated Financial Data
(unaudited)
	Three Months Ended									Nine Months Ended
	September 30,									September 30,
	2006			2005			% Change			2006			2005			% Change
	(dollars and shares in thousands)									(dollars and shares in thousands)
Income Statement Data:
Net interest income	$	321,970		$	287,374			12	%	$	948,837		$	854,742			11	%
Provision for credit losses		9,499			3,000			217			23,500			13,750			71
Noninterest income		150,557			124,779			21			424,515			344,111			23
Total revenues		472,527			412,153			15			1,373,352			1,198,853			15
Noninterest expense		343,469			288,582			19			992,587			825,487			20
Net income		79,669			79,455			0			236,486			236,001			0
Per Share Data:
Net income - Basic	$	0.43		$	0.48			(10	)%	$	1.29		$	1.45			(11	)%
Net income - Diluted		0.41			0.45			(9	)		1.23			1.36			(10	)
Book value - Basic										$	14.51		$	12.23			19	%
Book value - Diluted											13.85			11.69			18
Revenue per share - Diluted	$	9.71		$	9.14			6	%	$	9.49		$	8.98			6	%
Weighted Average Shares Outstanding:
Basic		186,527			165,701						183,981			162,947
Diluted		194,754			180,360						192,872			177,951
Balance Sheet Data:
Total assets										$	43,303,510		$	36,293,540			19	%
Loans (net)											14,550,704			11,150,520			30
Allowance for credit losses											154,572			138,903			11
Securities available for sale											10,800,173			8,965,121			20
Securities held to maturity											14,245,638			12,961,900			10
Total deposits											40,141,661			33,243,686			21
Core deposits											38,538,568			32,370,994			19
Stockholders' equity											2,715,361			2,114,361			28
Capital:
Stockholders' equity to total assets											6.27	%		5.83	%
Risk-based capital ratios:
Tier I											12.01			12.18
Total capital											12.73			13.01
Leverage ratio											6.08			6.17
Performance Ratios:
Cost of funds		2.74	%		1.71	%					2.53	%		1.50	%
Net interest margin		3.27			3.67						3.39			3.87
Return on average assets		0.74			0.92						0.76			0.96
Return on average total stockholders' equity		12.06			16.62						12.61			17.40

The following summary presents information regarding non-performing loans and assets as of September 30, 2006 and the preceding
four quarters (dollar amounts in thousands).
	September 30,			June 30,			March 31,			December 31,			September 30,
	2006			2006			2006			2005			2005
Non-accrual loans:
Commercial	$	33,658		$	34,904		$	16,975		$	16,712		$	16,926
Consumer		9,325			8,927			9,285			8,834			8,559
Commercial real estate:
Construction		496			1,708			1,726			1,763			1,882
Mortgage		1,828			2,523			2,096			4,329			3,353
Total non-accrual loans		45,307			48,062			30,082			31,638			30,720
Restructured loans:
Commercial		-			2,941			3,037			3,133			3,230
Consumer		-			-			-			-			-
Commercial real estate:
Construction		-			-			-			-			-
Mortgage		-			-			-			-			-
Total restructured loans		-			2,941			3,037			3,133			3,230
Total non-performing loans		45,307			51,003			33,119			34,771			33,950
Other real estate/foreclosed assets		2,022			1,369			435			279			310
Total non-performing assets		47,329			52,372			33,554			35,050			34,260
Loans past due 90 days or more
and still accruing		441			583			332			248			177
Total non-performing assets and
loans past due 90 days or more	$	47,770		$	52,955		$	33,886		$	35,298		$	34,437
Total non-performing loans as a
percentage of total period-end
loans		0.31	%		0.36	%		0.25	%		0.27	%		0.30	%
Total non-performing assets as a
percentage of total period-end assets		0.11	%		0.12	%		0.08	%		0.09	%		0.09	%
Total non-performing assets and loans
past due 90 days or more as a
percentage of total period-end assets		0.11	%		0.12	%		0.08	%		0.09	%		0.09	%
Allowance for credit losses as a
percentage of total non-performing
loans		341	%		291	%		432	%		407	%		409	%
Allowance for credit losses as a percentage
of total period-end loans		1.05	%		1.04	%		1.06	%		1.12	%		1.23	%
Total non-performing assets and loans
past due 90 days or more as a
percentage of stockholders' equity and
allowance for credit losses		2	%		2	%		1	%		1	%		2	%

The following table presents, for the periods indicated, an analysis of the allowance for credit losses and other
related data: (dollar amounts in thousands)
													Year
	Three Months Ended						Nine Months Ended						Ended
	09/30/06			09/30/05			09/30/06			09/30/05			12/31/05
Balance at beginning of period	$	148,383		$	141,325		$	141,464		$	135,620		$	135,620
Provisions charged to operating expenses		9,499			3,000			23,500			13,750			19,150
		157,882			144,325			164,964			149,370			154,770
Recoveries on loans charged-off:
Commercial		1,707			930			4,335			1,920			2,546
Consumer		237			245			1,372			1,332			2,566
Commercial real estate		57			30			375			80			80
Total recoveries		2,001			1,205			6,082			3,332			5,192
Loans charged-off:
Commercial		(2,968	)		(5,287	)		(10,182	)		(9,102	)		(13,944	)
Consumer		(2,119	)		(1,318	)		(5,803	)		(3,720	)		(5,912	)
Commercial real estate		(224	)		(22	)		(489	)		(977	)		(1,136	)
Total charge-offs		(5,311	)		(6,627	)		(16,474	)		(13,799	)		(20,992	)
Net charge-offs		(3,310	)		(5,422	)		(10,392	)		(10,467	)		(15,800	)
Allowance for credit loss acquired bank														2,494
Balance at end of period	$	154,572		$	138,903		$	154,572		$	138,903		$	141,464
Net charge-offs as a percentage of
average loans outstanding		0.09	%		0.20	%		0.10	%		0.13	%		0.15	%
Net Allowance Additions	$	6,189			($2,422	)	$	13,108		$	3,283		$	5,844

Commerce Bancorp, Inc. and Subsidiaries Average Balances and Net Interest Income
(unaudited)
	September 2006							June 2006							September 2005
	Average				Average			Average				Average			Average				Average
	Balance		Interest		Rate			Balance		Interest		Rate			Balance		Interest		Rate
(dollars in thousands)
Earning Assets
Investment securities
Taxable	$	24,566,553	$	334,250		5.40	%	$	23,851,645	$	319,271		5.37	%	$	19,732,946	$	239,481		4.81	%
Tax-exempt		530,542		7,641		5.71			559,733		7,322		5.25			397,351		4,366		4.36
Trading		78,103		934		4.74			113,049		1,525		5.41			96,344		1,335		5.50
Total investment securities		25,175,198		342,825		5.40			24,524,427		328,118		5.37			20,226,641		245,182		4.81
Federal funds sold		145,897		1,918		5.22			19,898		250		5.04			198,260		1,774		3.55
Loans
Commercial mortgages		5,001,608		90,050		7.14			4,784,584		83,903		7.03			3,865,284		63,300		6.50
Commercial		3,603,790		72,606		7.99			3,492,946		66,879		7.68			2,760,625		47,117		6.77
Consumer		5,407,721		87,077		6.39			5,115,609		80,560		6.32			4,087,665		62,720		6.09
Tax-exempt		510,950		9,123		7.08			498,492		8,535		6.87			498,211		8,831		7.03
Total loans		14,524,069		258,856		7.07			13,891,631		239,877		6.93			11,211,785		181,968		6.44
Total earning assets	$	39,845,164	$	603,599		6.01	%	$	38,435,956	$	568,245		5.93	%	$	31,636,686	$	428,924		5.38	%
Sources of Funds
Interest-bearing liabilities
Savings	$	10,592,676	$	70,320		2.63	%	$	10,344,463	$	64,157		2.49	%	$	8,127,451	$	35,215		1.72	%
Interest bearing demand		14,975,663		132,349		3.51			14,597,277		118,085		3.24			12,638,411		68,100		2.14
Time deposits		3,344,257		32,667		3.88			3,088,653		25,949		3.37			2,734,408		18,760		2.72
Public funds		1,470,116		19,708		5.32			1,224,298		15,225		4.99			842,894		7,354		3.46
Total deposits		30,382,712		255,044		3.33			29,254,691		223,416		3.06			24,343,164		129,429		2.11
Other borrowed money		1,543,210		20,392		5.24			1,624,229		19,809		4.89			541,119		4,697		3.44
Long-term debt		0		0		0.00			0		0		0.00			163,043		2,339		5.69
Total deposits and interest-bearing liabilities		31,925,922		275,436		3.42			30,878,920		243,225		3.16			25,047,326		136,465		2.16
Noninterest-bearing funds (net)		7,919,242							7,557,036							6,589,360
Total sources to fund earning assets	$	39,845,164		275,436		2.74		$	38,435,956		243,225		2.54		$	31,636,686		136,465		1.71
Net interest income and
margin tax-equivalent basis			$	328,163		3.27	%			$	325,020		3.39	%			$	292,459		3.67	%
Other Balances
Cash and due from banks	$	1,219,806						$	1,278,137						$	1,306,848
Other assets		2,359,885							2,314,307							1,845,602
Total assets		43,279,878							41,888,789							34,644,396
Total deposits		38,772,316							37,486,585							31,788,250
Demand deposits (noninterest-bearing)		8,389,604							8,231,894							7,445,086
Other liabilities		321,225							299,622							240,177
Stockholders' equity		2,643,127							2,478,353							1,911,807
Allowance for loan losses		144,977							139,611							144,740
Notes -Weighted average yields on tax-exempt obligations have been computed on a tax-equivalent basis assuming a federal tax rate of 35%.
-Non-accrual loans have been included in the average loan balance.
-Consumer loans include loans held for sale.

Commerce Bancorp, Inc. and Subsidiaries
Computation of Net Income Per Share
(dollars in thousands, except per share amounts)
	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2006		2005		2006		2005
Basic:
Net income applicable to common stock	$	79,669	$	79,455	$	236,486	$	236,001
Average common shares outstanding		186,527		165,701		183,981		162,947
Net income per common share	$	0.43	$	0.48	$	1.29	$	1.45
Diluted:
Net income applicable to common stock	$	79,669	$	79,455	$	236,486	$	236,001
on a diluted basis
Interest expense on trust preferred securities				1,520				5,446
	$	79,669	$	80,975	$	236,486	$	241,447
Average common shares outstanding		186,527		165,701		183,981		162,947
Additional shares considered in diluted
computation assuming:
Exercise of stock options		8,227		8,478		8,891		7,894
Conversion of trust preferred securities				6,181				7,110
Average common and common equivalent
shares outstanding		194,754		180,360		192,872		177,951
Net income per common and common
equivalent share	$	0.41	$	0.45	$	1.23	$	1.36