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Home > News & Events > Preliminary Bank Earnings Report -- Second Quarter, 2002




Preliminary Bank Earnings Report -- Second Quarter, 2002

TABLE II-A. Aggregate Condition and Income Data, FDIC-Insured Commercial Banks
(dollar figures in millions)

Preliminary
2nd Quarter
2002

1st Quarter
2002

2nd Quarter
2001

%Change
01:2-02:2

Number of institutions reporting 7,966 8,005 8,178 -2.6
Total employees (full-time equivalent) 1,738,607 1,722,882 1,690,443 2.8
CONDITION DATA
Total assets $6,749,377 $6,504,319 $6,360,020 6.1
Loans secured by real estate 1,886,944 1,811,262 1,736,990 8.6
Commercial & industrial loans 938,744 966,237 1,027,834 -8.7
Loans to individuals 662,451 649,140 610,682 8.5
Farm loans 47,650 45,083 49,070 -2.9
Other loans & leases 439,592 425,420 437,194 0.5
Less: Unearned income 3,830 3,845 2,768 38.4
Total loans & leases 3,971,553 3,893,297 3,859,003 2.9
Less: Reserve for losses 74,329 75,077 65,757 13.0
Net loans and leases 3,897,222 3,818,221 3,793,246 2.7
Securities 1,237,106 1,185,938 1,056,279 17.1
Other real estate owned 3,874 3,810 3,204 20.9
Goodwill and other intangibles 129,574 131,797 103,447 25.3
All other assets 1,481,598 1,364,547 1,403,843 5.5
Total liabilities and capital 6,749,377 6,504,319 6,360,020 6.1
Noninterest-bearing deposits 827,151 805,433 753,533 9.8
Interest-bearing deposits 3,620,741 3,546,774 3,491,194 3.7
Other borrowed funds 1,191,318 1,136,083 1,135,921 4.9
Subordinated debt 93,716 92,983 89,580 4.6
All other liabilities 392,199 318,493 332,689 17.9
Equity capital 624,001 604,555 557,102 12.0
Loans and leases 30-89 days past due 46,529 49,060 46,778 -0.5
Noncurrent loans and leases 58,511 57,188 48,684 20.2
Restructured loans and leases 1,635 1,871 1,004 62.9
Direct and indirect investments in real estate 270 259 267 0.9
1-4 Family residential mortgages 1,012,888 960,579 943,806 7.3
Mortgage-backed securities 661,378 615,947 508,638 30.0
Earning assets 5,796,790 5,619,541 5,478,426 5.8
Long-term assets (5+ years) 1,397,934 1,324,907 1,241,881 12.6
Volatile liabilities 2,128,534 2,043,717 2,157,858 -1.4
Foreign office deposits 640,905 603,522 682,411 -6.1
FHLB Advances 217,790 204,035 184,098 1.8
Unused loan commitments 5,183,170 5,066,647 4,646,279 11.6
Derivatives 50,587,353 46,508,824 48,212,888 4.9
INCOME DATA

Preliminary
First Half
2002

First Half
2001


% Change

Preliminary
2nd Quarter
2002

2nd Quarter
2001

%Change
01:2-02:2

Total interest income $179,778 $213,515 -15.8 $90,330 $104,315 -13.4
Total interest expense 62,157 108,695 -42.8 31,561 51,113 -38.3
Net interest income 117,621 104,820 12.2 58,768 53,202 10.5
Provision for loan and lease losses 22,424 16,782 33.6 10,853 8,847 22.7
Total noninterest income 84,192 79,029 6.5 42,621 39,050 9.1
Total noninterest expense 113,402 110,026 3.1 57,041 55,202 3.3
Securities gains (losses) 1,722 2,031 -15.2 1,013 861 17.6
Applicable income taxes 22,435 19,890 12.8 11,220 9,951 12.8
Extraordinary gains, net 35 -350 N/M 156 -17 N/M
Net income 45,310 38,831 16.7 23,444 19,097 22.8
Net charge-offs 21,619 14,887 45.2 10,544 7,934 32.9
Cash dividends 33,900 25,893 30.9 14,169 12,519 13.2
Net operating income 44,108 37,780 16.8 22,610 18,545 21.9
N/M - Not meaningful

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