PNC Bank 2001 Annual Report Download - page 3

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1
FINANCIAL HIGHLIGHTS
THE PNC FINANCIAL SERVICES GROUP, INC.
Year ended December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dollars in millions, except per share data . . . . . . . . . . . . . . . . . . . 2001 2000 1999
FINANCIAL PERFORMANCE . . . . . . . . . . . . . . . . .
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Net interest income (taxable equivalent basis) . . . . $2,278 $2,182 $2,366
Noninterest income . . . . . . . . . . . . . . . . . . . . . . . 2,543 2,891 2,450
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,821 $5,073 $4,816
Noninterest income to total revenue . . . . . . . . . . . . 52.7% 57.0% 50.9%
Income from continuing operations . . . . . . . . . . . . . $377 $1,214 $1,202
Discontinued operations, net of tax . . . . . . . . . . . . . 565 62
Income before cumulative effect
of accounting change . . . . . . . . . . . . . . . . . . . . . . 382 1,279 1,264
Cumulative effect of accounting change, net of tax . . (5)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $377 $1,279 $1,264
Per common share . . . . . . . . . . . . . . . . . . . . . . . . .
Diluted earnings . . . . . . . . . . . . . . . . . . . . . . . . .
Continuing operations . . . . . . . . . . . . . . . . . . . $1.26 $4.09 $3.94
Discontinued operations . . . . . . . . . . . . . . . . . . .02 .22 .21
Before cumulative effect of accounting change . . 1.28 4.31 4.15
Cumulative effect of accounting change . . . . . . . (.02)
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . $1.26 $4.31 $4.15
Cash dividends declared . . . . . . . . . . . . . . . . . . . . $1.92 $1.83 $1.68
SELECTED RATIOS . . . . . . . . . . . . . . . . . . . . . . . .
From net income . . . . . . . . . . . . . . . . . . . . . . . . . .
Return on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Average common shareholders’ equity . . . . . . . . 5.65% 21.63% 22.41%
Average assets . . . . . . . . . . . . . . . . . . . . . . . . . . .53 1.68 1.69
YEAR-END BALANCES . . . . . . . . . . . . . . . . . . . . .
Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $69,568 $69,844 $69,286
Loans, net of unearned income . . . . . . . . . . . . . . . . 37,974 50,601 49,673
Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47,304 47,664 45,802
Shareholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . 5,823 6,656 5,946
Note: This annual report contains forward-looking statements. Please refer to the section of this report captioned
“Forward-Looking Statements” on page 60 for important information related to forward-looking statements.