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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q/A
Amendment to Quarterly report pursuant to section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period Commission file number 1-7901.
ended September 30, 1995
BARNETT BANKS, INC.
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(Exact name of registrant as specified in its charter)
Florida 59-0560515
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(State of incorporation) (I.R.S. Employer
Identification No.)
50 North Laura Street
Jacksonville, Florida 32202
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(Address of Principal Executive Offices)
(904) 791-7720
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(Registrants telephone number, Including area code)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirement for the past 90 days.
Yes X No
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Barnett Banks, Inc. Common Stock - September 30, 1995:
94,596,475 shares outstanding
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on behalf by the
undersigned, thereunto duly authorized.
BARNETT BANKS, INC.
/s/Patrick J. McCann
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Patrick J. McCann
Controller
(Principal Accounting Officer)
Date: November 14, 1995
2 BARNETT BANKS, INC.
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PART I -- FINANCIAL INFORMATION
CONSOLIDATED FINANCIAL HIGHLIGHTS
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THREE MONTHS NINE MONTHS
FOR THE PERIODS ENDED SEPTEMBER 30-- ---------------------------- -------------------------
DOLLARS IN MILLIONS EXCEPT PER SHARE DATA 1995 1994 CHANGE 1995 1994 CHANGE
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FOR THE PERIOD
Net interest income (taxable-equivalent)....... $446.9 $419.8 6% $1,312.9 $1,251.3 5%
Provision for loan losses...................... 34.2 15.4 -- 85.3 48.5 76
Non-interest income............................ 182.7 138.1 32 528.6 412.8 28
Non-interest expense........................... 379.3 340.3 11 1,124.7 1,022.7 10
Net income..................................... 134.1 123.4 9 395.0 362.6 9
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PER COMMON SHARE
Net income:
Primary...................................... $ 1.34 $ 1.21 11% $ 3.91 $ 3.55 10%
Fully diluted................................ 1.29 1.18 9 3.78 3.45 10
Dividends declared............................. .47 .41 15 1.35 1.18 14
Book value(1).................................. 33.75 30.30 11 33.75 30.30 11
Stock price:
High......................................... 58.88 47.63 24 58.88 48.13 22
Low.......................................... 51.25 43.25 18 38.75 39.75 (3)
Close........................................ 56.63 44.25 28 56.63 44.25 28
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KEY PERFORMANCE RATIOS
Return on assets............................... 1.30% 1.30% -- 1.28% 1.28% --
Return on common equity........................ 16.54 16.78 (1)% 16.46 16.71 (1)%
Return on total equity......................... 16.02 16.19 (1) 15.94 16.12 (1)
Net yield on earning assets.................... 4.90 4.85 1 4.83 4.90 (1)
Overhead ratio................................. 60.25 61.03 (1) 61.08 61.45 (1)
Shareholders' equity to total assets(1)........ 8.27 8.09 2 8.27 8.09 2
Leverage ratio................................. 6.35 7.66 (17) 6.35 7.66 (17)
Total risk-based capital ratio................. 12.02 13.75 (13) 12.02 13.75 (13)
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AVERAGE BALANCES
Assets......................................... $41,136 $38,119 8% $41,076 $37,798 9%
Deposits....................................... 33,477 31,334 7 33,704 31,663 6
Loans, net of unearned income.................. 30,191 26,968 12 29,555 26,447 12
Earning assets................................. 36,364 34,494 5 36,323 34,107 6
Common equity.................................. 3,133 2,835 11 3,089 2,784 11
Total equity................................... 3,347 3,050 10 3,304 2,999 10
Fully diluted shares (thousands)............... 103,469 104,779 (1) 104,611 104,987 --
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AT PERIOD-END
Assets............................................................................. $41,175 $38,962 6%
Deposits........................................................................... 33,248 31,606 5
Loans, net of unearned income...................................................... 30,469 27,372 11
Long-term debt..................................................................... 1,151 680 69
Preferred stock.................................................................... 213 215 (1)
Total equity....................................................................... 3,328 3,062 9
Common shares (thousands).......................................................... 94,596 96,978 (2)
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(1)Based on equity before deduction of the employee stock ownership plan
obligation.
BARNETT BANKS, INC. 3
