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TABLE 17 - Consolidated Daily Average Balances, Income/Expense and Average Yields Earned and
Rates Paid
Three Months Ended December 31
2006 2005
(Dollars in millions; yields on taxable-equivalent basis)
Average
Balances
Income/
Expense
Yields/
Rates
Average
Balances
Income/
Expense
Yields/
Rates
Assets
Loans:1
Real estate 1-4 family $34,345.4 $531.8 6.19 % $29,893.4 $422.7 5.66 %
Real estate construction 13,204.0 254.3 7.64 10,147.9 173.9 6.80
Real estate home equity lines 13,722.9 273.4 7.90 13,067.7 218.2 6.62
Real estate commercial 12,784.8 223.1 6.93 12,792.1 201.7 6.26
Commercial - FTE233,965.1 545.8 6.37 32,997.2 466.5 5.61
Business credit card 351.4 5.3 5.99 271.8 4.2 6.21
Consumer - direct 4,116.3 76.8 7.40 5,438.2 83.8 6.11
Consumer - indirect 8,231.8 123.8 5.97 8,899.1 122.0 5.44
Nonaccrual and restructured 642.1 5.0 3.06 320.2 3.5 4.31
Total loans 121,363.8 2,039.3 6.67 113,827.6 1,696.5 5.91
Securities available for sale:
Taxable 22,170.4 282.0 5.09 24,005.4 273.8 4.56
Tax-exempt - FTE2998.0 14.6 5.85 908.1 13.3 5.87
Total securities available for sale - FTE 23,168.4 296.6 5.12 24,913.5 287.1 4.61
Funds sold and securities purchased under agreements to resell 1,176.3 15.4 5.15 1,068.4 10.4 3.82
Loans held for sale 12,009.3 198.4 6.61 11,980.8 180.9 6.04
Interest-bearing deposits 31.2 0.3 3.76 31.9 0.3 3.96
Interest earning trading assets 2,365.8 38.6 6.46 1,667.6 20.2 4.80
Total earning assets 160,114.8 2,588.6 6.41 153,489.8 2,195.4 5.67
Allowance for loan and lease losses (1,086.1) (1,034.8)
Cash and due from banks 3,683.1 4,349.2
Premises and equipment 1,957.4 1,833.5
Other assets 14,708.2 14,370.1
Noninterest earning trading assets 1,000.5 890.1
Unrealized gains on securities available for sale 1,965.4 1,871.2
Total assets $182,343.3 $175,769.1
Liabilities and Shareholders’ Equity
Interest-bearing deposits:
NOW accounts $18,441.1 $102.2 2.20 % $17,011.3 $52.2 1.22 %
Money market accounts 23,075.7 153.1 2.63 25,797.6 128.6 1.98
Savings 5,437.0 23.6 1.73 5,472.9 13.7 0.99
Consumer time 16,682.8 180.8 4.30 13,231.5 106.8 3.20
Other time 12,338.6 148.3 4.77 9,050.8 82.2 3.60
Total interest-bearing consumer and commercial deposits 75,975.2 608.0 3.18 70,564.1 383.5 2.16
Brokered deposits 18,102.0 243.1 5.25 13,658.6 142.8 4.09
Foreign deposits 8,022.2 107.6 5.25 7,351.3 74.9 3.99
Total interest-bearing deposits 102,099.4 958.7 3.73 91,574.0 601.2 2.60
Funds purchased 5,163.4 68.8 5.21 4,742.3 47.9 3.95
Securities sold under agreements to repurchase 7,148.8 86.3 4.72 6,452.1 58.1 3.53
Other short-term borrowings 1,913.3 29.7 6.17 2,800.6 30.7 4.35
Long-term debt 17,854.2 259.9 5.78 21,189.9 250.4 4.69
Total interest-bearing liabilities 134,179.1 1,403.4 4.15 126,758.9 988.3 3.09
Noninterest-bearing deposits 22,577.7 24,693.0
Other liabilities 7,431.0 7,441.6
Shareholders’ equity 18,155.5 16,875.6
Total liabilities and shareholders’ equity $182,343.3 $175,769.1
Interest Rate Spread 2.26 % 2.58 %
Net Interest Income - FTE 3$1,185.2 $1,207.1
Net Interest Margin42.94 % 3.12 %
1Interest income includes loan fees of $29.1 million and $32.9 million in the quarters ended December 31, 2006 and December 31, 2005, respectively. Nonaccrual loans are
included in average balances and income on such loans, if recognized, is recorded on a cash basis.
2Interest income includes the effects of taxable-equivalent adjustments using a federal income tax rate of 35% and, where applicable, state income taxes to increase tax-exempt
interest income to a taxable-equivalent basis. The net taxable-equivalent adjustment amounts included in the above table aggregated $23.9 million, and $20.0 million in the
quarters ended December 31, 2006, and December 31, 2005, respectively.
3Derivative instruments used to help balance the Company’s interest-sensitivity position decreased net interest income $36.0 million and increased net interest income $10.7
million in the quarters ended December 31, 2006, and December 31, 2005, respectively.
4The net interest margin is calculated by dividing annualized net interest income – FTE by average total earning assets. During the second quarter of 2006, the net interest margin
calculation was revised as a result of the Company segregating certain noninterest earning trading assets that had previously been included with interest earning trading assets.
All prior periods presented were restated to reflect this refinement. Management believes this refined method to be a more reflective measure of net interest margin due to the
interest earning nature of these assets.
52