Printer Friendly

FIRST CHICAGO REPORTS FOURTH QUARTER EARNINGS OF $136.6 MM WITH STRONG VENTURE CAPITAL APPRECIATION

 Chicago, Jan. 14 /PRNewswire/ -- First Chicago today reported the following:
 FIRST CHICAGO CORPORATION AND SUBSIDIARIES
 COMPARATIVE SUMMARY
 Three Months Ended Dec. 31
 Percent
 (In millions, except per share data) 1992 1991 Change
 Net interest income -- tax-equivalent
 basis $ 326.2 $ 270.5 + 21
 Combined credit provisions 81.5 180.0 - 55
 Noninterest income 436.0 336.9 + 29
 Noninterest expense (excluding
 provisions for other real estate) 461.2 449.2 + 3
 Net income (loss) 136.6 (15.1) -
 Earnings (loss) per share
 Primary 1.53 (0.40) -
 Fully diluted 1.49 (0.40) -
 Average balances
 Loans 22,761 26,316 - 14
 Earning assets 47,654 44,702 + 7
 Total assets 56,167 52,724 + 7
 Common equity 2,616 2,448 + 7
 Stockholders' equity 3,235 3,017 + 7
 Net interest margin 2.72pct. 2.40pct. + 13
 Return on assets 0.97pct.(0.11)pct. -
 Return on common stockholders' equity 19.0pct. (4.2)pct. -
 For the Year
 Percent
 1992 1991 Change
 Net interest income--tax-equivalent
 basis $1,217.0 $1,117.9 + 9
 Combined credit provisions
 Assets held for accelerated
 disposition 625.0 - -
 Other 481.9 544.3 - 11
 Noninterest income 1,488.2 1,225.2 + 21
 Noninterest expense (excluding
 provisions for other real estate) 1,764.4 1,597.0 + 10
 Income (loss) before cumulative effect
 of changes in accounting principles (114.5) 116.3 -
 Cumulative effect of changes in
 accounting principles --
 Valuation of venture capital
 investment securities 220.7 - -
 Recognition of credit card
 solicitation costs (12.7) - -
 Net income 93.5 116.3 - 20
 Earnings per share
 Primary
 Income (loss) before cumulative effect
 of changes in accounting principles (2.08) 1.15 -
 Cumulative effect of changes in
 accounting principles 2.72 - -
 Net income 0.64 1.15 - 44
 Fully Diluted
 Income (loss) before cumulative effect
 of changes in accounting principles (2.08) 1.15 -
 Cumulative effect of changes in
 accounting principles 2.72 - -
 Net income 0.64 1.15 - 44
 Average balances
 Loans 24,347 27,281 - 11
 Earning assets 46,706 44,512 + 5
 Total assets 54,768 52,655 + 4
 Common equity 2,733 2,431 + 12
 Stockholders' equity 3,314 2,938 + 13
 Net interest margin 2.61pct. 2.51pct. + 4
 Return on assets 0.17pct. 0.22pct. - 23
 Return on common stockholders' equity 1.8pct. 3.2pct. - 44
 At Dec. 31
 Percent
 1992 1991 Change
 Total assets $49,281 $48,963 + 1
 Total deposits 29,740 32,091 - 7
 Loans (excluding loans held for
 accelerated disposition) 22,692 25,661 - 12
 Common stockholders' equity 2,732 2,401 + 14
 Stockholders' equity 3,401 2,970 + 15
 -0- 1/14/93
 /FIRST ADD -- SECOND ADD TO FOLLOW/
 /CONTACT: Lisabeth Weiner, 312-732-4455; investor contacts: Colleen Mulligan, 312-732-4812, or Susan Temple, 312-732-8013/
 (FNB)


CO: First Chicago Corporation ST: Illinois IN: FIN SU: ERN

PS -- NY007 -- 4724 01/14/93 09:03 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 14, 1993
Words:475
Previous Article:THERMO INSTRUMENT RECEIVES $3.1 MILLION ORDER FROM NAVY FOR OXYGEN ANALYSIS INSTRUMENTS
Next Article:BANK OF NEW YORK REPORTS $1.14 FOURTH QUARTER EPS, UP 43 PERCENT OVER LAST YEAR; $4.23 E.P.S. FOR 1992 COMPARED WITH $1.28 IN 1991;
Topics:


Related Articles
/FIRST AND FINAL ADD -- NY011 -- FIRST CHICAGO EARNINGS/
/SECOND AND FINAL ADD -- NY011 -- FIRST CHICAGO EARNINGS/
/FIRST AND FINAL ADD -- NY011 -- FIRST CHICAGO EARNINGS/
/SECOND AND FINAL ADD -- NY011 -- FIRST CHICAGO EARNINGS/
/FIRST AND FINAL ADD -- NY007 -- FIRST CHICAGO EARNINGS/
FIRST CHICAGO REPORTS NET INCOME OF $169 MILLION
/FOURTH AND FINAL ADD -- NY022 -- FIRST CHICAGO EARNINGS/
FIRST CHICAGO REPORTS RECORD 1993 EARNINGS OF $8.78 PER SHARE; 4th QUARTER NET INCOME TOTALS $173 MILLION, OR $1.81 PER SHARE
/SECOND ADD -- NY022 -- FIRST CHICAGO EARNINGS/
INTEGRA ANNOUNCES FIRST QUARTER EARNINGS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters