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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 20, 2000
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BANK ONE CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 001-15323 31-0738296
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1 Bank One Plaza, Chicago, IL 60670
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 312-732-4000
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Item 5. Other Events
On or about March 20, 2000, the Registrant will post certain supplemental
line of business information to its Internet home page. A copy of the material
to be posted is attached as Exhibits 99(a) and 99(b) to this Current Report on
Form 8-K and incorporated by reference herein.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
Exhibit Number Description of Exhibits
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99(a) Cover sheet to line of business information posted to
Registrant's Internet home page on or about March 20,
2000.
99(b) Line of business information posted to Registrant's
Internet home page on or about March 20, 2000.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BANK ONE CORPORATION
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(Registrant)
Date: March 20, 2000 By: /s/ M. Eileen Kennedy
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Title: Treasurer
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EXHIBIT INDEX
Exhibit Number Description of Exhibits
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99(a) Cover sheet to line of business information posted to
Registrant's Internet home page on or about March 20, 2000.
99(b) Line of business information posted to Registrant's Internet
home page on or about March 20, 2000.
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Exhibit 99(a)
[Bank One Logo] Investor Relations
Fax Cover Sheet
To: Analysts & Investors
Date: 03/20/00
Re: Line of Business Results - New Organization Page 1 of 3
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Attached is the line of business information for the eight trailing quarters
through the 1999 fourth quarter.
This information reflects the organizational changes effective January 1, 2000
and conforms to that presented on page 9 of the 1999 Annual Report Form 10-K
filed March 17, 2000 - "Line of Business Reorganization". (Reminder: The line of
business data and discussion on pages 3-9 of the 1999 Form 10-K is presented on
the previous organizational structure.)
This information also conforms to the line of business data in the January 11,
2000 investor presentation for both the estimated 1999 and targeted 2000 pre-tax
growth rates. Specifically, this relates to the 1999 vs. 1998 estimated pre-tax
growth rates on slide #112 and is the basis for the targeted 2000 vs. 1999 pre-
tax growth rates on slides #50 and #120. Refer to the 1999 Form 10-K and January
11, 2000 investor presentation for line of business definitions and additional
information. Copies of each can be found at www.bankone.com.
Please note that the 1998 and 1999 noninterest income and net income amounts for
Commercial Banking and Other Activities have been adjusted slightly from those
shown in the 1999 Form 10-K to reflect ongoing allocation methodology
refinements. These adjustments result in a better base against which future
performance can be measured.
We hope you find this information of value.
Sandy Catanzaro Jay Gould Holly Hobson
312-732-8013 312-732-5771 312-732-5782
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Exhibit 99(b) BANK ONE CORPORATION LINE OF BUSINESS DETAIL* 03/20/00
<TABLE>
<CAPTION>
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Income Statement ($ millions) 1Q98 2Q98 3Q98 4Q98 1998 1Q99 2Q99 3Q99 4Q99 1999
Balance Sheet ($ billions) ---------------------------------------------- ----------------------------------------------
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Commercial Banking
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Net interest income FTE $ 671 $ 686 $ 725 $ 759 $2,841 $ 722 $ 756 $ 758 $ 791 $3,027
Provision 98 96 102 108 404 105 108 110 114 437
Noninterest income 591 671 397 410 2,069 582 605 575 618 2,380
Noninterest expense 734 759 707 702 2,902 754 711 687 765 2,917
Net Income 289 339 223 267 1,118 315 373 371 388 1,447
Return on equity 16% 19% 12% 14% 15% 18% 21% 21% 22% 20%
Efficiency ratio 58% 56% 63% 60% 59% 58% 52% 52% 54% 54%
Average loans $ 74.0 $ 77.7 $ 77.2 $ 79.1 $ 77.0 $ 80.0 $ 81.6 $ 83.7 $ 87.1 $ 83.1
Average assets 111.5 114.0 112.8 114.2 113.1 116.2 116.2 116.6 122.7 117.9
Average deposits 39.7 40.4 40.6 44.1 41.2 46.1 46.1 45.9 47.8 46.5
Average common equity 7.3 7.3 7.3 7.5 7.3 7.1 7.2 7.1 7.1 7.2
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Credit Card
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Net interest income FTE $1,499 $1,521 $1,626 $1,811 $6,457 $1,801 $1,786 $1,736 $1,572 $6,895
Provision 862 832 791 789 3,274 840 898 922 933 3,593
Noninterest income 320 314 436 558 1,628 417 507 456 478 1,858
Noninterest expense 620 688 767 979 3,054 927 875 827 815 3,444
Net Income 218 203 340 416 1,177 303 338 289 205 1,135
Return on O/S (ROO) pretax 2.3% 2.2% 3.4% 3.6% 2.9% 2.6% 3.0% 2.5% 1.7% 2.5%
Return on equity 17% 15% 24% 26% 21% 20% 22% 18% 13% 18%
Efficiency ratio 34% 37% 37% 41% 38% 42% 38% 38% 40% 39%
Managed net charge-off ratio 6.05% 6.11% 5.43% 4.79% 5.57% 4.89% 5.25% 5.33% 5.45% 5.23%
Average loans $ 58.5 $ 58.2 $ 59.1 $ 66.2 $ 60.5 $ 69.1 $ 68.9 $ 69.2 $ 68.7 $ 69.0
Average assets 63.9 63.6 63.7 71.5 65.7 75.2 75.4 75.3 75.2 75.3
Average common equity 5.2 5.3 5.6 6.3 5.6 6.2 6.2 6.2 6.2 6.2
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Retail
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Net interest income FTE $1,101 $1,073 $1,062 $1,057 $4,293 $1,083 $1,085 $1,102 $1,119 $4,389
Provision 125 120 104 108 457 133 83 83 116 415
Noninterest income 469 462 505 484 1,920 463 448 433 375 1,719
Noninterest expense 1,055 1,058 1,027 1,074 4,214 1,034 977 994 999 4,004
Net Income 249 231 295 249 1,024 255 307 298 258 1,118
Return on equity 22% 20% 25% 21% 22% 22% 26% 25% 22% 24%
Efficiency ratio 67% 69% 66% 70% 68% 67% 64% 65% 67% 66%
Average loans $ 63.4 $ 61.9 $ 61.5 $ 61.9 $ 62.2 $ 64.0 $ 65.0 $ 66.9 $ 68.8 $ 66.2
Average assets 69.3 67.7 66.2 66.7 67.5 70.7 71.6 73.6 75.1 72.8
Average deposits 93.4 93.8 91.1 91.3 92.4 90.9 89.2 88.5 87.6 89.0
Average common equity 4.6 4.6 4.6 4.6 4.6 4.7 4.7 4.8 4.7 4.7
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</TABLE>
* Data on a managed basis adjusted for one-time
items and recent allocation / methodology changes.
See 3/17/2000 Form 10-K for definitions and Prepared by Investor Relations
methodologies. May not add due to rounding. Page 2 of 3
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Exhibit 99(b) BANK ONE CORPORATION LINE OF BUSINESS DETAIL* 3/20/00
<TABLE>
<CAPTION>
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Income Statement ($ millions) 1Q98 2Q98 3Q98 4Q98 1998 1Q99 2Q99 3Q99 4Q99 1999
Balance Sheet ($ billions) ---------------------------------------------- ----------------------------------------------
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Other Activities
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Net interest income FTE $ 36 $ 37 $ 35 $ 36 $ 144 $ 25 $ 13 $ (1) $ (9) $ 28
Provision 0 0 0 0 0 0 0 0 0 0
Noninterest income 54 77 100 78 309 136 97 57 48 338
Noninterest expense 19 29 23 42 113 32 48 63 50 193
Net Income 54 65 91 56 266 96 50 5 (3) 148
Average assets $30.4 $ 32.2 $ 32.6 $ 35.1 $ 32.6 $ 35.2 $ 35.0 $ 36.2 $ 38.3 $ 36.2
Average common equity 0.7 0.6 0.6 0.6 0.6 0.8 0.8 0.8 0.8 0.8
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Corporate/Unallocated
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Net interest income FTE $ 15 $ 24 $ 37 $ 17 $ 93 $ 32 $ 18 $ 46 $ 22 $ 118
Provision (88) (25) (54) (54) (221) (49) (14) 0 (44) (107)
Noninterest income 52 70 8 14 144 25 49 44 60 178
Noninterest expense 5 2 15 11 33 (9) 14 12 43 60
Net Income 99 76 56 52 283 77 44 51 56 228
Average common equity $ 0.9 $ 1.5 $ 2.1 $ 1.2 $ 1.4 $ 1.5 $ 1.9 $ 1.2 $ 1.1 $ 1.4
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Net Income by LOB
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Commercial Banking $ 289 $ 339 $ 223 $ 267 $1,118 $ 315 $ 373 $ 371 $ 388 $1,447
Credit Card 218 203 340 416 1,177 303 338 289 205 1,135
Retail 249 231 295 249 1,024 255 307 298 258 1,118
Other Activities/Unalloacated 153 141 147 108 549 173 94 56 53 376
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Total Operating 908 915 1,006 1,041 3,869 1,046 1,112 1,014 904 4,076
Merger-related & unusual items 25 (20) 49 (815) (761) 105 (120) (89) (493) (597)
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Total Corporation 933 895 1,054 226 3,108 1,151 992 925 411 3,479
Investment Management 70 73 81 82 306 87 134 114 122 457
(Included above)
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Investment Mgmt (memo)
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Total revenue $ 347 $ 367 $ 373 $ 405 $1,492 $ 439 $ 460 $ 427 $ 442 $1,768
Provision 0 0 0 1 1 0 0 1 1 2
Noninterest expense 239 251 253 284 1,027 308 256 251 261 1,076
Net Income 70 73 81 82 306 87 134 114 122 457
Assets under management $94.2 $102.4 $116.0 $122.3 $108.8 $124.8 $124.6 $125.1 $126.0 $125.1
Net income attribution
Commercial Banking $ 58 $ 59 $ 56 $ 43 $ 216 $ 59 $ 90 $ 81 $ 85 $ 315
Credit card 0 2 11 25 38 15 27 20 25 87
Retail 12 12 14 14 52 13 17 13 12 55
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Total 70 73 81 82 306 87 134 114 122 457
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</TABLE>
* Data on a managed basis adjusted for one-time items and recent allocation /
methodology changes.
See 3/17/2000 Form 10-K for definitions and Prepared by Investor Realtions
methodologies. May not add due to rounding. Page 3 of 3
