-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QPZtm+WPq0m3ULrwC6NN9WxDNWBLcumPCNYLnzdV+pTbP+mYOsbILICRYMZ/97Z6 +Zsc3nryNU07h/w+H3cs0g== /in/edgar/work/0000870517-00-000047/0000870517-00-000047.txt : 20001012 0000870517-00-000047.hdr.sgml : 20001012 ACCESSION NUMBER: 0000870517-00-000047 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20001011 ITEM INFORMATION: FILED AS OF DATE: 20001011 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MBNA CORP CENTRAL INDEX KEY: 0000870517 STANDARD INDUSTRIAL CLASSIFICATION: [6021 ] IRS NUMBER: 521713008 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10683 FILM NUMBER: 738473 BUSINESS ADDRESS: STREET 1: 1100 N KING ST STREET 2: C/O MBNA AMERICA BANK NA CITY: WILMINGTON STATE: DE ZIP: 19884 BUSINESS PHONE: 8003626255 MAIL ADDRESS: STREET 1: 1100 NORTH KING STREET CITY: WILMINGTON STATE: DE ZIP: 19884 8-K 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 11, 2000 ------------------------- MBNA Corporation -------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Maryland 1-10683 52-1713008 -------------------------------------------------------------------------- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) Wilmington, Delaware 19884-0141 -------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (800) 362-6255 ----------------------- -------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events MBNA Corporation released earnings for the third quarter of 2000 on October 11, 2000, as filed in exhibit 99 under Item 7. Item 7. Financial Statements and Exhibits Exhibits Exhibit 99: Additional Exhibits SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. MBNA CORPORATION Date: October 11, 2000 By: /s/ M. Scot Kaufman ------------------------------- M. Scot Kaufman Senior Executive Vice President and Chief Financial Officer EX-99 2 0002.txt Exhibit 99 MBNA CORPORATION AND SUBSIDIARIES FINANCIAL HIGHLIGHTS (dollars in thousands, except per share amounts) For the Three Months For the Nine Months Ended September 30, Ended September 30, 2000 1999 2000 1999 - ------------------------------------------------------------------------------ (unaudited) INCOME STATEMENT DATA FOR THE PERIOD: Net interest income....... $ 275,034 $ 209,021 $ 826,418 $ 702,863 Provision for possible credit losses............ 113,283 105,020 302,430 319,240 Other operating income.... 1,326,150 1,118,307 3,630,557 3,050,569 Other operating expense... 892,183 751,413 2,718,832 2,295,809 Net income.............. 368,749 291,484 888,706 704,659 - ------------------------------------------------------------------------------ PER COMMON SHARE DATA FOR THE PERIOD: Earnings(a)............... $ .44 $ .36 $ 1.08 $ .87 Earnings-assuming dilution(a).............. .43 .34 1.05 .83 Dividends................. .08 .07 .24 .21 Book value................ 7.13 4.68 - ------------------------------------------------------------------------------ RATIOS: Return on average total assets................... 4.38% 4.02% 3.70% 3.39% Return on average stockholders' equity..... 27.56 30.15 25.65 25.67 Average receivables to average deposits......... 84.61 82.92 87.41 86.93 Stockholders' equity to total assets............. 17.30 13.42 Loan Portfolio: Delinquency(b).......... 3.94 4.00 Net credit losses....... 2.19 2.98 2.19 2.72 Managed Loans(c): Delinquency............. 4.65 4.67 Net credit losses....... 3.88 4.34 3.96 4.37 Net interest margin(d).. 7.10 7.33 7.10 7.54 - ------------------------------------------------------------------------------ MBNA CORPORATION AND SUBSIDIARIES FINANCIAL HIGHLIGHTS (dollars in thousands, except per share amounts) For the Three Months For the Nine Months Ended September 30, Ended September 30, 2000 1999 2000 1999 - ------------------------------------------------------------------------------ (unaudited) MANAGED LOAN DATA(c): At Period End: Loans held for securitization......... $ 6,991,585 $ 5,815,060 Loan portfolio.......... 11,053,165 8,875,364 Securitized loans....... 66,626,693 52,662,759 ----------- ----------- Total managed loans... $84,671,443 $67,353,183 =========== =========== Average for the Period: Loans held for securitization......... $ 7,900,917 $ 4,322,598 $ 8,334,336 $ 3,917,198 Loan portfolio.......... 9,767,282 9,771,086 9,105,162 10,403,686 Securitized loans....... 60,120,484 51,512,620 57,190,189 48,282,248 ----------- ----------- ----------- ----------- Total managed loans... $77,788,683 $65,606,304 $74,629,687 $62,603,132 =========== =========== =========== =========== For the Period: Sales and cash advance volume................. $31,449,996 $27,745,666 $90,809,143 $75,305,998 - ------------------------------------------------------------------------------ BALANCE SHEET DATA AT PERIOD END: Investment securities and money market instruments. $ 5,599,474 $ 6,778,901 Loans held for securitization........... 6,991,585 5,815,060 Credit card loans......... 7,994,814 7,104,049 Other consumer loans...... 3,058,351 1,771,315 ----------- ----------- Total loans............. 11,053,165 8,875,364 Reserve for possible credit losses............ (428,925) (328,095) ----------- ----------- Net loans............... 10,624,240 8,547,269 Total assets.............. 36,344,519 29,547,080 Total deposits............ 21,594,846 17,624,369 Stockholders' equity...... 6,289,240 3,966,163 - ------------------------------------------------------------------------------ MBNA CORPORATION AND SUBSIDIARIES FINANCIAL HIGHLIGHTS (dollars in thousands, except per share amounts) For the Three Months For the Nine Months Ended September 30, Ended September 30, 2000 1999 2000 1999 - ------------------------------------------------------------------------------ (unaudited) AVERAGE BALANCE SHEET DATA: Investment securities and money market instruments. $ 5,484,148 $ 5,457,428 $ 4,976,387 $ 5,618,592 Loans held for securitization........... 7,900,917 4,322,598 8,334,336 3,917,198 Credit card loans......... 7,051,176 8,053,465 6,537,992 8,314,658 Other consumer loans...... 2,716,106 1,717,621 2,567,170 2,089,028 ----------- ----------- ----------- ----------- Total loans............. 9,767,282 9,771,086 9,105,162 10,403,686 Reserve for possible credit losses............ (375,600) (327,877) (367,033) (290,067) ----------- ----------- ----------- ----------- Net loans............... 9,391,682 9,443,209 8,738,129 10,113,619 Total assets.............. 33,457,198 28,779,036 32,101,022 27,811,533 Total deposits............ 20,880,994 16,997,305 19,950,421 16,474,678 Stockholders' equity...... 5,322,244 3,835,340 4,628,491 3,669,629 - ------------------------------------------------------------------------------ Weighted average common shares outstanding (000).................... 826,310 801,890 810,053 800,756 Weighted average common shares outstanding and common stock equivalents (000).................... 854,672 838,608 835,213 837,436 - ------------------------------------------------------------------------------ NOTES: (a)Earnings per common share is computed using net income applicable to common stock and weighted average common shares outstanding, whereas earnings per common share-assuming dilution includes the potential dilutive effect of common stock equivalents. The Corporation's common stock equivalents are solely related to employee stock options. The Corporation has no other common stock equivalents. (b) Loan portfolio delinquency does not include loans held for securitization or securitized loans. (c) Managed loans include the Corporation's loans held for securitization, loan portfolio, and securitized loans. (d) Managed net interest margin is presented on a fully taxable equivalent basis. -----END PRIVACY-ENHANCED MESSAGE-----