<PAGE> 1
EXHIBIT 99.3
J.P. MORGAN CHASE & CO.
UNAUDITED PRO FORMA COMBINED BALANCE SHEETS
(IN MILLIONS)
<TABLE>
<CAPTION>
At At At At At At At
Sept. 30, June 30, March 31, Dec. 31, Sept. 30, June 30, March 31,
2000 2000 2000 1999 1999 1999 1999
-----------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
ASSETS
Cash and Due from Banks $ 20,284 $ 20,859 $ 18,159 $ 18,692 $ 18,099 $ 18,131 $ 19,756
Deposits With Banks 8,669 8,768 8,190 30,421 8,001 7,909 5,625
Federal Funds Sold and Securities Purchased
Under Resale Agreements 69,413 69,421 70,048 58,981 64,162 60,426 53,454
Securities Borrowed 36,424 34,681 35,027 35,528 36,479 41,134 40,091
Trading Assets:
Debt and Equity Instruments 140,992 115,730 124,225 104,125 89,569 100,306 95,881
Derivative Receivables 67,028 68,728 78,258 76,736 74,133 65,506 79,906
Securities:
Available-For-Sale 70,650 70,331 71,253 74,911 78,253 74,800 87,403
Held-To-Maturity 632 719 822 888 975 1,092 1,316
Loans (Net of Allowance for Loan Losses) 214,496 203,611 198,870 199,270 195,017 200,240 195,082
Private Equity Investments 11,502 12,102 11,742 10,389 8,432 7,378 6,225
Accrued Interest and Accounts Receivable 15,491 18,122 18,681 20,554 17,799 16,100 15,642
Premises and Equipment 6,863 6,584 6,460 6,436 6,301 6,078 6,017
Goodwill and Other Intangibles 15,678 10,012 9,858 9,632 8,320 7,241 6,901
Other Assets 29,375 22,700 24,453 20,440 20,323 19,921 17,029
-----------------------------------------------------------------------------------
TOTAL ASSETS $ 707,497 $ 662,368 $ 676,046 $ 667,003 $ 625,863 $ 626,262 $ 630,328
===================================================================================
LIABILITIES
Deposits:
Domestic:
Noninterest-Bearing $ 48,059 $ 50,582 $ 49,914 $ 50,366 $ 50,572 $ 51,096 $ 48,221
Interest-Bearing 83,674 81,709 81,911 84,341 82,842 87,695 88,912
Foreign:
Noninterest-Bearing 6,844 7,322 5,640 6,559 7,546 5,423 4,778
Interest-Bearing 131,208 131,303 121,530 145,798 127,486 120,623 122,534
-----------------------------------------------------------------------------------
Total Deposits $ 269,785 $ 270,916 $ 258,995 $ 287,064 $ 268,446 $ 264,837 $ 264,445
Federal Funds Purchased and Securities Sold
Under Repurchase Agreements 145,210 125,237 139,520 109,841 105,658 105,453 113,026
Commercial Paper 19,462 13,354 15,031 20,363 16,323 18,161 14,498
Other Borrowed Funds 20,065 15,124 16,271 15,403 16,493 17,587 18,395
Trading Liabilities:
Debt and Equity Instruments 58,972 52,506 54,633 46,268 41,284 45,064 41,713
Derivative Payables 65,253 65,531 72,117 72,722 67,843 61,900 70,489
Accounts Payable, Accrued Expenses and Other
Liabilities, Including the Allowance
for Credit Losses 37,225 34,298 33,820 34,196 29,183 29,350 24,480
Long-Term Debt 45,634 44,528 45,825 41,852 42,046 45,161 44,496
Guaranteed Preferred Beneficial Interests in
Corporation's Junior Subordinated
Deferrable Interest Debentures 3,939 3,689 3,688 3,688 3,688 3,688 3,338
-----------------------------------------------------------------------------------
TOTAL LIABILITIES $ 665,545 $ 625,183 $ 639,900 $ 631,397 $ 590,964 $ 591,201 $ 594,880
-----------------------------------------------------------------------------------
PREFERRED STOCK OF SUBSIDIARY $ 550 $ 550 $ 550 $ 550 $ 550 $ 550 $ 550
-----------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY
Preferred Stock $ 1,522 $ 1,522 $ 1,622 $ 1,622 $ 1,622 $ 1,722 $ 1,722
Common Stock 2,066 2,066 1,625 1,625 1,625 1,625 1,625
Capital Surplus 12,427 12,205 12,280 12,724 12,348 12,172 11,989
Retained Earnings 31,678 30,887 29,848 28,455 26,796 25,715 24,373
Accumulated Other Comprehensive (Loss) Income (995) (1,281) (1,266) (1,428) (1,192) (820) (136)
Treasury Stock, At Cost (5,296) (8,764) (8,513) (7,942) (6,850) (5,903) (4,675)
-----------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' EQUITY $ 41,402 $ 36,635 $ 35,596 $ 35,056 $ 34,349 $ 34,511 $ 34,898
-----------------------------------------------------------------------------------
TOTAL LIABILITIES, PREFERRED
STOCK OF SUBSIDIARY AND
STOCKHOLDERS' EQUITY $ 707,497 $ 662,368 $ 676,046 $ 667,003 $ 625,863 $ 626,262 $ 630,328
===================================================================================
</TABLE>
<TABLE>
<CAPTION>
At At
Dec. 31, Dec. 31,
1998 1997
-----------------------
<S> <C> <C>
ASSETS
Cash and Due from Banks $ 18,271 $ 17,462
Deposits With Banks 9,583 5,018
Federal Funds Sold and Securities Purchased
Under Resale Agreements 49,498 69,257
Securities Borrowed 31,510 39,048
Trading Assets:
Debt and Equity Instruments 90,616 105,220
Derivative Receivables 80,972 79,027
Securities:
Available-For-Sale 99,035 72,523
Held-To-Maturity 1,687 2,983
Loans (Net of Allowance for Loan Losses) 194,227 195,862
Private Equity Investments 6,156 1,085
Accrued Interest and Accounts Receivable 16,275 14,297
Premises and Equipment 5,936 5,618
Goodwill and Other Intangibles 6,601 4,269
Other Assets 16,575 16,011
-----------------------
TOTAL ASSETS $ 626,942 $ 627,680
=======================
LIABILITIES
Deposits:
Domestic:
Noninterest-Bearing $ 48,783 $ 48,085
Interest-Bearing 93,610 80,808
Foreign:
Noninterest-Bearing 4,645 3,949
Interest-Bearing 120,427 119,725
-----------------------
Total Deposits $ 267,465 $ 252,567
Federal Funds Purchased and Securities Sold
Under Repurchase Agreements 105,000 113,930
Commercial Paper 14,425 11,366
Other Borrowed Funds 19,754 24,037
Trading Liabilities:
Debt and Equity Instruments 31,782 44,521
Derivative Payables 77,363 79,058
Accounts Payable, Accrued Expenses and Other
Liabilities, Including the Allowance
for Credit Losses 28,372 29,239
Long-Term Debt 43,794 36,376
Guaranteed Preferred Beneficial Interests in
Corporation's Junior Subordinated
Deferrable Interest Debentures 3,338 2,890
-----------------------
TOTAL LIABILITIES $ 591,293 $ 593,984
-----------------------
PREFERRED STOCK OF SUBSIDIARY $ 550 $ 550
-----------------------
STOCKHOLDERS' EQUITY
Preferred Stock $ 1,722 $ 2,434
Common Stock 1,625 1,184
Capital Surplus 12,307 12,642
Retained Earnings 23,158 20,501
Accumulated Other Comprehensive (Loss) Income 493 527
Treasury Stock, At Cost (4,206) (4,142)
-----------------------
TOTAL STOCKHOLDERS' EQUITY $ 35,099 $ 33,146
-----------------------
TOTAL LIABILITIES, PREFERRED
STOCK OF SUBSIDIARY AND
STOCKHOLDERS' EQUITY $ 626,942 $ 627,680
=======================
</TABLE>
