<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data
Exhibit 99.1
<TABLE>
<CAPTION>
2000 1999
--------------------------------------------- -----------------------------------------------
As of Second First As of Fourth Third
June 30, Quarter Quarter December 31, Quarter Quarter
-------------- ------------- ------------- ------------- ------------- -------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Total assets $ 1,800,863 1,800,863 1,778,469 1,711,712 1,711,712 1,680,087
Total interest-earning assets $ 1,677,146 1,677,146 1,657,272 1,611,313 1,611,313 1,577,171
Securities, at amortized cost $ 489,569 489,569 553,433 578,546 578,546 609,778
Loans:
Real estate loans:
One-to four-family $ 690,811 690,811 673,913 609,742 609,742 590,184
Home equity $ 34,220 34,220 32,285 22,499 22,499 20,124
Multi-family $ 79,372 79,372 77,738 74,652 74,652 71,703
Commercial real-estate $ 158,156 158,156 131,112 120,758 120,758 117,230
Construction $ 24,908 24,908 28,794 28,413 28,413 20,453
----------- ----------- ----------- ----------- ----------- -----------
Total real estate loans $ 987,467 987,467 943,842 856,064 856,064 819,694
----------- ----------- ----------- ----------- ----------- -----------
Consumer loans:
Mobile home $ 24,351 24,351 25,337 25,957 25,957 25,991
Recreational vehicle $ 26,837 26,837 24,765 23,389 23,389 19,304
Automobile $ 32,472 32,472 25,476 24,289 24,289 20,419
Personal $ 15,230 15,230 15,349 15,771 15,771 15,841
Home improvement $ 7,925 7,925 7,885 7,983 7,983 8,292
Guaranteed student $ 14,041 14,041 14,483 12,564 12,564 12,275
Other consumer $ 665 665 332 280 280 384
----------- ----------- ----------- ----------- ----------- -----------
Total consumer loans $ 121,521 121,521 113,627 110,233 110,233 102,506
----------- ----------- ----------- ----------- ----------- -----------
Commercial business loans $ 33,013 33,013 26,237 24,301 24,301 19,209
Net deferred fees $ 2,938 2,938 3,231 4,892 4,892 5,608
----------- ----------- ----------- ----------- ----------- -----------
Total loans $ 1,144,939 1,144,939 1,086,937 995,490 995,490 947,017
Memo items:
Total loans originated $ 187,939 116,358 71,581 372,131 90,008 98,692
Total loans serviced $ 144,891 144,891 138,463 124,578 124,578 121,026
Total interest-bearing liabilities $ 1,498,546 1,498,546 1,476,730 1,413,798 1,413,798 1,367,354
Deposits:
Interest-bearing deposits $ 1,185,855 1,185,855 1,162,211 1,078,153 1,078,153 1,067,133
Noninterest-bearing deposits $ 37,471 37,471 38,438 35,149 35,149 32,631
----------- ----------- ----------- ----------- ----------- -----------
Total deposits $ 1,223,326 1,223,326 1,200,649 1,113,302 1,113,302 1,099,764
Short-term borrowings $ 75,180 75,180 74,588 90,005 90,005 45,461
Long-term borrowings $ 237,510 237,510 239,931 245,640 245,640 254,760
Stockholders' equity $ 228,995 228,995 229,947 232,616 232,616 235,690
Fair value adjustment included in
stockholders' equity $ (8,844) (8,844) (8,300) (8,893) (8,893) (6,002)
Common shares outstanding:
Basic 24,654 24,654 25,014 25,658 25,658 25,954
Diluted 24,686 24,686 25,014 25,658 25,658 25,954
Equity to assets 12.72% 12.72% 12.93% 13.59% 13.59% 14.03%
</TABLE>
<TABLE>
<CAPTION>
1999 1998
------------------------------ -------------
Second First As of
Quarter Quarter December 31,
------------- ------------- -------------
--------------------------------------------------------------------------------
SELECTED FINANCIAL DATA
(Amounts in thousands)
--------------------------------------------------------------------------------
<S> <C> <C> <C>
Total assets 1,633,018 1,591,000 1,508,734
Total interest-earning assets 1,535,963 1,491,837 1,408,097
Securities, at amortized cost 646,155 673,521 572,976
Loans:
Real estate loans:
One-to four-family 533,915 477,363 456,197
Home equity 17,873 16,255 15,520
Multi-family 72,886 73,142 72,672
Commercial real-estate 113,248 105,009 98,693
Construction 17,425 22,486 19,476
----------- ----------- -----------
Total real estate loans 755,347 694,255 662,558
----------- ----------- -----------
Consumer loans:
Mobile home 25,559 25,309 24,983
Recreational vehicle 16,457 12,981 8,906
Automobile 16,358 11,633 8,741
Personal 15,802 15,349 15,642
Home improvement 7,928 7,518 8,131
Guaranteed student 13,522 13,967 12,314
Other consumer 296 324 342
----------- ----------- -----------
Total consumer loans 95,922 87,081 79,059
----------- ----------- -----------
Commercial business loans 13,784 7,503 6,616
Net deferred fees 4,938 4,786 4,516
----------- ----------- -----------
Total loans 869,991 793,625 752,749
Memo items:
Total loans originated 99,707 83,724 310,257
Total loans serviced 142,137 167,116 170,105
Total interest-bearing liabilities 1,327,100 1,279,641 1,170,580
Deposits:
Interest-bearing deposits 1,055,568 1,034,001 1,027,983
Noninterest-bearing deposits 32,750 30,993 32,914
----------- ----------- -----------
Total deposits 1,088,318 1,064,994 1,060,897
Short-term borrowings 45,453 45,446 5,549
Long-term borrowings 226,078 200,194 137,048
Stockholders' equity 239,509 249,256 263,825
Fair value adjustment included in
stockholders' equity (2,090) 2,494 4,587
Common shares outstanding:
Basic 26,404 27,241 28,716
Diluted 26,404 27,241 28,716
Equity to assets 14.67% 15.67% 17.49%
</TABLE>
<TABLE>
<CAPTION>
2000 1999
--------------------------------------------- -----------------------------------------
Year-to-Date Second First Year-to-Date Fourth Third
June 30, Quarter Quarter December 31, Quarter Quarter
-------------- ------------- ------------- ------------- ------------- ----------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES (5)
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Total assets $ 1,750,558 1,786,630 1,714,486 1,627,049 1,694,707 1,671,065
Total interest-earning assets $ 1,640,749 1,669,930 1,611,570 1,526,358 1,584,151 1,580,682
Securities, at amortized cost $ 540,466 515,954 564,979 614,174 589,707 627,259
Loans (1) $ 1,063,077 1,114,528 1,011,626 869,910 961,904 917,658
Interest-bearing liabilities:
Savings accounts $ 303,985 311,953 296,016 302,583 297,622 308,467
Interest-bearing checking $ 363,830 378,951 348,709 306,628 334,976 320,868
Certificates of deposits $ 449,672 467,648 431,696 433,168 430,615 423,590
Mortgagors' payments held in escrow $ 11,470 12,738 10,201 10,834 10,984 15,191
Other borrowed funds $ 322,591 317,183 327,999 261,515 314,327 296,739
------------ ------------- ------------- ------------- ------------- -------------
Total interest-bearing liabilities $ 1,451,548 1,488,473 1,414,621 1,314,728 1,388,524 1,364,855
Interest-bearing deposits $ 1,128,957 1,171,290 1,086,622 1,053,213 1,074,197 1,068,116
Noninterest-bearing deposits $ 34,254 35,504 33,005 31,921 32,125 31,839
------------ ------------- ------------- ------------- ------------- -------------
Total deposits $ 1,163,211 1,206,794 1,119,627 1,085,134 1,106,322 1,099,955
Short-term borrowings $ 85,981 80,915 91,060 41,048 65,844 45,454
Long-term borrowings $ 236,610 236,268 236,939 220,466 248,483 251,285
Stockholders' equity $ 229,000 227,192 230,809 245,099 236,380 238,182
Common shares outstanding:
Basic 25,058 24,739 25,377 26,744 25,864 26,225
Diluted 25,065 24,753 25,377 26,744 25,864 26,225
</TABLE>
<TABLE>
<CAPTION>
1999 2000
------------------------ -----------
Second First Year-to-Date
Quarter Quarter December 31,
----------- ----------- -----------
--------------------------------------------------------------------------------
SELECTED AVERAGE BALANCES (5)
(Amounts in thousands)
--------------------------------------------------------------------------------
<S> <C> <C> <C>
Total assets 1,618,039 1,522,004 1,340,553
Total interest-earning assets 1,518,391 1,419,779 1,269,284
Securities, at amortized cost 654,224 585,317 515,714
Loans (1) 826,239 711,219 684,723
Interest-bearing liabilities:
Savings accounts 307,312 296,859 302,313
Interest-bearing checking 299,028 270,779 205,326
Certificates of deposits 430,283 448,487 476,641
Mortgagors' payments held in escrow 10,528 8,173 9,483
Other borrowed funds 257,693 175,386 69,485
------------- ----------- ----------
Total interest-bearing liabilities 1,304,844 1,199,684 1,063,248
Interest-bearing deposits 1,047,151 1,024,298 993,763
Noninterest-bearing deposits 31,511 30,574 28,242
------------- ----------- ----------
Total deposits 1,078,662 1,054,872 1,022,005
Short-term borrowings 45,461 6,737 12,861
Long-term borrowings 212,232 168,649 56,625
Stockholders' equity 248,892 257,247 223,285
Common shares outstanding:
Basic 27,026 27,888 28,722
Diluted 27,026 27,888 28,722
</TABLE>
<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data (Cont'd.)
Exhibit 99.1
<TABLE>
<CAPTION>
2000 1999
------------------------------------- --------------------------------------
As of Second First As of Fourth Third
June 30, Quarter Quarter December 31, Quarter Quarter
----------- ---------- ---------- ------------- ----------- ------------
-----------------------------------------------------------------------------------------------------------------------
SELECTED OPERATIONS DATA
(Amounts in thousands)
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Interest income $ 59,795 30,836 28,959 107,814 28,401 27,893
Interest expense $ 32,486 16,727 15,759 57,060 15,458 14,873
-------- -------- -------- -------- -------- --------
Net interest income $ 27,309 14,109 13,200 50,754 12,943 13,020
Provision for credit losses $ 971 554 417 2,466 544 554
-------- -------- -------- -------- -------- --------
Net interest income after provision $ 26,338 13,555 12,783 48,288 12,399 12,466
Noninterest income:
Bank service charges and fees $ 3,162 1,678 1,484 4,816 1,292 1,258
Loan fees $ 750 422 327 1,684 390 379
Insurance services and fees $ 8,331 4,349 3,982 15,723 3,813 3,959
Leasing income $ 667 369 298 -- -- --
Bank-owned life insurance earnings $ 986 504 482 1,581 498 418
Annuity and mutual fund commissions $ 716 421 295 1,382 331 355
Net securities gains (losses) $ (17) 7 (24) 478 295 1
Premiums from covered-call options $ 590 308 282 1,378 153 428
Other $ 624 275 350 646 118 230
-------- -------- -------- -------- -------- --------
Total noninterest income $ 15,809 8,333 7,476 27,688 6,890 7,028
Noninterest expense:
Salaries and benefits $ 15,614 8,021 7,593 27,708 7,186 7,234
Occupancy and equipment $ 2,608 1,329 1,279 4,506 1,157 1,105
Technology and communications $ 2,479 1,271 1,208 4,481 1,205 1,131
Marketing and advertising $ 1,579 886 693 1,893 413 461
Charitable contributions $ 93 20 73 122 23 17
Other $ 4,126 2,237 1,889 7,439 2,165 1,808
-------- -------- -------- -------- -------- --------
Total noninterest expense $ 26,499 13,764 12,735 46,149 12,149 11,756
Income before income taxes and
goodwill amortization $ 15,648 8,124 7,524 29,827 7,140 7,738
Income taxes $ 5,069 2,653 2,416 9,893 2,317 2,580
-------- -------- -------- -------- -------- --------
Net income-cash basis $ 10,579 5,471 5,108 19,934 4,823 5,158
-------- -------- -------- -------- -------- --------
Goodwill amortization $ 1,061 609 452 1,494 374 372
-------- -------- -------- -------- -------- --------
Net income-GAAP basis $ 9,518 4,862 4,656 18,440 4,449 4,786
-------- -------- -------- -------- -------- --------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STOCK AND RELATED PER SHARE DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Net income per share:
Cash basis:
Basic $ 0.42 0.22 0.20 0.75 0.19 0.20
Diluted $ 0.42 0.22 0.20 0.75 0.19 0.20
GAAP basis:
Basic $ 0.38 0.20 0.18 0.69 0.17 0.18
Diluted $ 0.38 0.20 0.18 0.69 0.17 0.18
Cash dividends $ 0.13 0.07 0.06 0.14(3) 0.06(3) - (3)
Dividend payout ratio 34.23% 35.62% 32.70% 20.30%(3) 34.88%(3) - (3)
Book value $ 9.14 9.14 9.19 9.07 9.07 9.08
Market price (NASDAQ: FNFG):
High $ 10.38 10.16 10.38 11.13 11.00 10.94
Low $ 8.25 9.00 8.25 9.00 10.13 9.69
Close $ 9.38 9.38 9.75 10.25 10.25 10.44
Treasury shares repurchased 1,063 407 656 3,111 308 465
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE RATIOS (5)
(Annualized)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Cash basis:
Return on average assets 1.23% 1.25% 1.21% 1.24% 1.14% 1.24%
Return on average equity 10.26% 10.91% 9.64% 8.62% 8.59% 9.16%
GAAP basis:
Return on average assets 1.09% 1.09% 1.09% 1.13% 1.04% 1.14%
Return on average equity 8.36% 8.61% 8.11% 7.52% 7.47% 7.97%
Yield on interest-earning assets 7.29% 7.39% 7.19% 7.06% 7.17% 7.06%
Rate on interest-bearing liabilities 4.49% 4.51% 4.47% 4.34% 4.42% 4.32%
-------- -------- -------- -------- -------- --------
Net interest rate spread 2.80% 2.88% 2.72% 2.72% 2.75% 2.74%
Net interest margin as a percent of
interest-earning assets 3.36% 3.39% 3.29% 3.33% 3.24% 3.27%
As a percentage of average assets:
Noninterest income (4) 1.82% 1.87% 1.76% 1.67% 1.54% 1.67%
Noninterest expense 3.17% 3.24% 3.09% 2.93% 2.93% 2.88%
-------- -------- -------- -------- -------- --------
Net overhead 1.35% 1.37% 1.33% 1.26% 1.39% 1.21%
Efficiency ratio 63.89% 64.07% 63.70% 61.11% 64.10% 60.50%
</TABLE>
<TABLE>
<CAPTION>
1999 1998
----------------------------- -------------
Second First As of
Quarter Quarter December 31,
------------- ------------- -------------
------------------------------------------------------------------------------------------------------------------------------------
SELECTED OPERATIONS DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Interest income 26,579 24,941 92,102
Interest expense 13,852 12,877 47,966
------------ ------------ ------------
Net interest income 12,727 12,064 44,136
Provision for credit losses 547 821 2,084
------------ ------------ ------------
Net interest income after provision 12,180 11,243 42,052
Noninterest income:
Bank service charges and fees 1,201 1,065 3,791
Loan fees 465 450 1,736
Insurance services and fees 3,951 4,000 1,120
Leasing income -- -- --
Bank-owned life insurance earnings 335 330 769
Annuity and mutual fund commissions 373 323 741
Net securities gains (losses) 4 178 138
Premiums from covered-call options 293 504 (9)
Other 228 70 896
------------ ------------ -------------
Total noninterest income 6,850 6,920 9,182
Noninterest expense:
Salaries and benefits 6,802 6,486 15,900
Occupancy and equipment 1,103 1,141 3,388
Technology and communications 1,100 1,045 3,166
Marketing and advertising 511 508 1,543
Charitable contributions 23 59 6,849
Other 1,784 1,682 5,100
------------ ----------- -----------
Total noninterest expense 11,323 10,921 35,946
Income before income taxes and
goodwill amortization 7,707 7,242 15,288
Income taxes 2,633 2,363 4,906
------------ ----------- ------------
Net income-cash basis 5,074 4,879 10,382(2)
------------ ----------- ------------
Goodwill amortization 374 374 --
------------ ----------- ------------
Net income-GAAP basis 4,700 4,505 10,382
------------ ----------- ------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
STOCK AND RELATED PER SHARE DATA
(Amounts in thousands)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Net income per share:
Cash basis:
Basic 0.19 0.17 0.36
Diluted 0.19 0.17 0.36
GAAP basis:
Basic 0.17 0.16 0.36(2)
Diluted 0.17 0.16 0.36(2)
Cash dividends 0.04 0.04 0.06
Dividend payout ratio 23.00% 24.76% 16.60%
Book value 9.07 9.15 9.19
Market price (NASDAQ: FNFG):
High 10.94 11.13 17.06
Low 9.00 9.25 8.38
Close 10.63 10.00 10.50
Treasury shares repurchased 850 1,488 --
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
PERFORMANCE RATIOS (5)
(Annualized)
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Cash basis:
Return on average assets 1.27% 1.31% 0.77%(2)
Return on average equity 8.68% 8.10% 4.65%(2)
GAAP basis:
Return on average assets 1.17% 1.20% 0.77%
Return on average equity 7.57% 7.10% 4.65%
Yield on interest-earning assets 7.00% 7.03% 7.26%
Rate on interest-bearing liabilities 4.26% 4.35% 4.51%
-------- -------- --------
Net interest rate spread 2.74% 2.68% 2.75%
Net interest margin as a percent of
interest-earning assets 3.36% 3.45% 3.48%
As a percentage of average assets:
Noninterest income (4) 1.70% 1.84% 0.68%
Noninterest expense 2.90% 3.01% 2.68%(2)
-------- -------- --------
Net overhead 1.20% 1.17% 2.00%(2)
Efficiency ratio 59.76% 60.06% 67.59%(2)
</TABLE>
<PAGE>
First Niagara Financial Group, Inc.
Summary of Quarterly Financial Data (Cont'd.)
Exhibit 99.1
<TABLE>
<CAPTION>
2000 1999
----------------------------------- ------------------------------------
As of Second First As of Fourth Third
June 30, Quarter Quarter December 31, Quarter Quarter
------------- ---------- --------- ------------ ---------- ----------
---------------------------------------------------------------------------------------------------------------------
RISK-BASED CAPITAL RATIOS
(Amounts in thousands)
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Tier 1 capital 19.50% 19.50% 20.09% 22.40% 22.40% 22.88%
Total capital 20.68% 20.68% 21.33% 23.56% 23.56% 24.00%
Leverage capital 11.99% 11.99% 12.62% 13.51% 13.51% 13.71%
--------------------------------------------------------------------------------------------------------------------
ASSET QUALITY DATA
(Amounts in thousands)
--------------------------------------------------------------------------------------------------------------------
Non-performing loans:
One-to four-family $ 1,209 1,209 1,325 974 974 926
Home equity $ 17 17 54 130 130 132
Commercial real estate and multi-family $ 487 487 627 640 640 641
Consumer $ 42 42 70 33 33 145
Commercial business $ 232 232 159 152 152 152
------- ------- ------- ------- ------- -------
Total non-performing loans $ 1,987 1,987 2,235 1,929 1,929 1,996
Other non-performing assets $ 238 238 436 1,073 1,073 1,017
------- ------- ------- ------- ------- -------
Total non-performing assets $ 2,225 2,225 2,671 3,002 3,002 3,013
Allowance for credit losses $10,991 10,991 10,503 9,862 9,862 9,526
Net loan charge-offs $ 142 66 76 614 208 146
Total non-performing assets as
percentage of total assets 0.12% 0.12% 0.15% 0.18% 0.18% 0.18%
Total non-performing loans to total loans 0.18% 0.18% 0.21% 0.19% 0.19% 0.21%
Net charge-offs to average loans 0.01% 0.01% 0.01% 0.07% 0.02% 0.02%
Allowance for credit losses to total loans 0.96% 0.96% 0.97% 0.99% 0.99% 1.01%
Allowance for credit losses
to non-performing loans 553.15% 553.15% 469.93% 511.27% 511.27% 477.26%
--------------------------------------------------------------------------------------------------------------------
Personnel FTE 671.50 671.50 649.50 624.50 624.50 635.00
Number of bank offices 22 22 22 18 18 18
--------------------------------------------------------------------------------------------------------------------
<CAPTION>
1999 1998
------------------- ------------
Second First As of
Quarter Quarter December 31,
--------- --------- ------------
-------------------------------------------------------------------------------
RISK-BASED CAPITAL RATIOS
(Amounts in thousands)
-------------------------------------------------------------------------------
<S> <C> <C> <C>
Tier 1 capital 24.07% 26.08% 31.67%
Total capital 25.27% 27.29% 32.88%
Leverage capital 14.19% 15.30% 18.05%
-------------------------------------------------------------------------------
ASSET QUALITY DATA
(Amounts in thousands)
-------------------------------------------------------------------------------
Non-performing loans:
One-to four-family $ 895 1,162 1,459
Home equity $ 71 71 13
Commercial real estate and multi-family $ 693 597 1,706
Consumer $ 76 57 62
Commercial business $ 184 123 56
------- ------- -------
Total non-performing loans $ 1,919 2,010 3,296
Other non-performing assets $ 1,039 955 589
------- ------- -------
Total non-performing assets $ 2,958 2,965 3,885
Allowance for credit losses $ 9,118 8,730 8,010
Net loan charge-offs $ 159 101 995
Total non-performing assets as
percentage of total assets 0.18% 0.19% 0.26%
Total non-performing loans to total loans 0.22% 0.26% 0.43%
Net charge-offs to average loans 0.02% 0.01% 0.15%
Allowance for credit losses to total loans 1.05% 1.10% 1.06%
Allowance for credit losses
to non-performing loans 475.14% 434.31% 243.02%
-------------------------------------------------------------------------------
Personnel FTE 606.00 588.00 401.50
Number of bank offices 18 18 18
</TABLE>
------------------------------------------
(1) Net of deferred loan fees and expenses, loan discounts and
loans-in-process.
(2) During the second quarter of 1998, First Niagara Financial Group, Inc.
contibuted $4.0 million, net of applicable taxes, to the First Niagara
Bank Foundation. Noninterest expense includes $6.75 million for the
one-time contribution of cash and common stock. The following data
excludes the effect of the contribution. Additionally, the earnings per
share calculation includes proforma earnings of $0.10 per share for
January 1, 1998 through April 17, 1998, the period prior to the Initial
Public Offering ("Offering"). Such calculations of proforma per share
data do not include the effect of estimated earnings on the proceeds
raised from the Offering.
1998
-------------
As of
December 31,
----------------
(Amounts in thousands)
Net income: $ 14,366
Basic $ 0.50
Diluted $ 0.50
Return on average assets 1.07%
Return on average equity 6.43%
As a percentage of average assets:
Noninterest expense 2.18%
Net overhead 1.50%
Efficiency ratio 54.90%
(3) In order to coincide with the Company's Board of Director's review of
quarterly results, the dividend declaration date for the third quarter of
1999 was scheduled during the fourth quarter of 1999. Correspondingly,
the dividend declaration date for the fourth quarter of 1999 was
scheduled during the first quarter of 2000. During 1999, three quarterly
dividends were declared.
(4) Excluding net gain/loss on sale of securities available for sale.
(5) Averages presented are daily averages.
