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/FIRST ADD -- NY011 -- FIRST CHICAGO EARNINGS/

 /FIRST ADD -- NY011 -- FIRST CHICAGO EARNINGS/
 FIRST CHICAGO REPORTS FIRST QUARTER NET INCOME OF $60.7 MILLION
 FIRST CHICAGO CORPORATION AND SUBSIDIARIES
 Consolidated Balance Sheet
 March 31 1992 1991
 (Dollars in millions)
 Assets
 Cash and due from banks--noninterest bearing $ 3,118 $ 2,935
 Due from banks--interest bearing 6,193 5,717
 Federal funds sold &
 securities under resale agreements 4,405 4,260
 Trading account assets 2,866 1,653
 Investment securities 1,905 1,797
 LOANS
 Less Allowance for credit losses 868 993
 Loans, net 23,860 26,773
 Premises and equipment 593 566
 Accrued income receivable 751 755
 Customers' acceptance liability 476 708
 Currency options purchased 761 2,060
 Other assets 2,358 2,453
 TOTAL ASSETS $47,286 $49,677
 LIABILITIES
 Deposits
 Demand $ 5,776 $ 5,038
 Savings 7,983 5,650
 Time 8,346 10,212
 Foreign offices 8,821 11,533
 TOTAL DEPOSITS 30,926 32,433
 Federal funds purchased &
 securities under repurchase agreements 5,040 5,036
 Commercial paper 295 184
 Other funds borrowed 3,056 3,218
 Long-term debt 1,833 1,526
 Acceptances outstanding 476 708
 Currency options written 683 1,796
 Other liabilities 1,962 1,934
 TOTAL LIABILITIES 44,271 46,835
 STOCKHOLDERS' EQUITY
 Preferred stock--without par value, authorized 15,000,000
 Outstanding shares:
 Series A ( $50 stated value)
 -- 2,410,000 shares 121 121
 Series B ($100 stated value)
 -- 1,191,000 shares 119 119
 Series C ($100 stated value)
 -- 713,800 shares 71 71
 Series D ( $25 stated value)
 -- 6,000,000 shares 150 --
 Convertible Series A ($50 stated value)
 -- 2,151,451 shares 108 108
 Common stock -- $5 par value 349 335
 1992 1991
 Number of shares authorized 150,000,000 150,000,000
 Number of shares issued 69,782,282 67,046,314
 Number of shares outstanding 69,761,493 66,946,060
 Surplus 1,306 1,259
 Retained earnings 790 827
 Translation adjustments 2 4
 TOTAL 3,016 2,844
 Less Treasury stock at cost 20,789 shares in
 1992 and 100,254 shares in 1991 1 2
 STOCKHOLDERS' EQUITY 3,015 2,842
 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $47,286 $49,677
 FIRST CHICAGO CORPORATION AND SUBSIDIARIES
 Consolidated Income Statement
 Three Months Ended March 31 1992 1991
 (In millions, except for per share data)
 Interest Income
 Interest and fees on loans $504.5 $685.2
 Interest on bank balances 95.9 137.2
 Interest on federal funds sold and securities
 under resale agreements 71.8 90.4
 Interest on trading account assets 62.8 58.4
 Interest on investment securities
 U.S. government and federal agency 7.1 7.7
 States and political subdivisions 4.6 5.2
 Other (including dividends) 8.3 14.9
 Total 755.0 999.0
 Interest Expense
 Interest on deposits 294.1 491.0
 Interest on federal funds purchased and
 securities under repurchase agreements 86.0 132.9
 Interest on commercial paper 2.3 4.3
 Interest on other funds borrowed 54.4 54.9
 Interest on long-term debt 32.9 31.5
 Total 469.7 714.6
 Net Interest Income 285.3 284.4
 Provision for credit losses 95.0 95.0
 Net Interest Income After Provision for
 Credit Losses 190.3 189.4
 Noninterest income
 Trading accounting profits 16.9 13.5
 Foreign exchange trading profits 14.5 29.5
 Fiduciary and investment management fees 46.6 40.0
 Credit card fee revenue 107.7 91.5
 Service charges and commissions 90.1 73.9
 Equity securities gains 45.8 3.7
 Investment securities gains 6.3 0.1
 Other income 3.5 16.3
 Total 331.4 268.5
 Noninterest Expense
 Salaries and employee benefits 187.9 179.6
 Occupancy expense of premises, net 38.2 36.6
 Equipment rentals, depreciation and maintenance 27.7 26.7
 Provision for other real estate 23.0 14.6
 Other expense 154.0 124.5
 Total 430.8 382.0
 Income Before Income Taxes 90.9 75.9
 Applicable income taxes 30.2 26.4
 NET INCOME $ 60.7 $ 49.5
 Net Income Attributable to Common
 Stockholders' Equity $ 49.8 $ 42.1
 Earnings per Common and Common Equivalent Share $ 0.71 $0.63
 FIRST CHICAGO CORP. AND SUBSIDIARIES
 Selected Statistical Information
 Average Balances/Net Interest Margin/Rates
 (Income and rates on tax-equivalent basis)
 (Dollars in millions)
 Three Months Ended March 31
 1992 1991
 Average Average Average Average
 Balance Interest Rate Balance Interest Rate
 (percents) (percents)
 Assets
 Due from banks --
 interest
 bearing (A) $ 7,010 $ 95.9 5.50 $ 6,673 $ 137.2 8.34
 Federal funds sold
 and securities
 under resale
 agreements 7,327 71.8 3.94 5,399 90.4 6.79
 Trading account
 assets 3,833 63.1 6.62 3,154 58.4 7.51
 Investment
 securities
 U.S. government
 and federal
 agency 454 7.1 6.29 398 7.7 7.85
 States and
 political
 subdivisions 292 7.0 9.64 339 7.1 8.49
 Other 1,056 10.8 4.11 1,041 16.0 6.23
 Total investment
 securities 1,802 24.9 5.56 1,778 30.8 7.03
 Loans (B)(C) 25,653 510.2 8.16 28,673 689.3 9.95
 Total earning
 assets(D) 45,625 765.9 6.75 45,677 1,006.1 8.93
 Cash and due
 from banks--
 noninterest
 bearing 3,285 2,802
 Allowance for
 credit losses (897) (995)
 Other assets 5,711 6,357
 TOTAL ASSETS $53,724 $53,841
 LIABILITIES AND
 STOCKHOLDERS'
 EQUITY DEPOSITS--
 interest bearing
 Savings $ 7,591 $57.2 3.03 pct. $5,412 $67.2 5.04 pct.
 Time 8,724 107.2 4.94 9,871 183.0 7.52
 Foreign
 offices (E) 10,427 129.7 5.00 12,828 240.8 7.61
 Total
 deposits--
 interest
 bearing 26,742 294.1 4.42 28,111 491.0 7.08
 Federal funds
 purchased and
 securities
 under repurchase
 agreements 8,846 86.0 3.91 8,141 132.9 6.62
 Commercial
 paper 223 2.3 4.15 233 4.3 7.48
 Other funds
 borrowed 3,550 54.4 6.16 3,006 54.9 7.41
 Long-term
 debt 1,744 32.9 7.59 1,473 31.5 8.67
 Total interest
 bearing
 liabilities 41,105 469.7 4.60 40,964 714.6 7.07
 Demand
 deposits 5,630 5,277
 Other
 liabilities 4,003 4,786
 Preferred
 stock 569 419
 Common
 stockholders'
 equity 2,417 2,395
 Total
 liabilities
 and stockholders'
 equity $53,724 $53,841
 Interest income/
 earning assets $765.9 6.75 $1,006.1 8.93
 Interest expense/
 earning assets 469.7 4.14 714.6 6.34
 Net interest/
 margin $296.2 2.61 $291.5 2.59
 (A) Principally balances in overseas offices.
 (B) Rates are calculated on average lease financing receivables balances reduced by deferred liability for taxes and deferred investment tax credits.
 (C) Nonperforming loans are included in average balances used to determine rates.
 (D) Includes tax-equivalent adjustments based on 34 percent federal income tax rate of $10.9 million and $7.1 million for the three months ended March 31, 1992 and 1991.
 (E) Includes International Banking Facilities deposit balances in domestic offices and balances of Edge Act and overseas offices.
 -0- 4/10/92 AA NY011
 (FNB)
 /SECOND AND FINAL ADD -- TABULAR MATERIALS -- TO FOLLOW/ CO: First Chicago Corp. ST: Illinois IN: FIN SU: ERN


SH -- NY011A -- 7121 04/10/92 10:09 EDT
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Date:Apr 10, 1992
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