<PAGE>
CONTACTS:
FINANCIAL/INVESTORS
Frank Pekny (City National) 310-888-6700
Ian Campbell (Abernathy MacGregor Group) 213-630-6550
MEDIA
Kim George (City National) 310-888-6665
Chris Orlando (Stoorza Communications) 619-236-1332
FOR IMMEDIATE RELEASE
CITY NATIONAL CORPORATION REPORTS RECORD
NET INCOME OF $33.4 MILLION FOR SECOND QUARTER
28% RISE MARKS 24TH CONSECUTIVE QUARTER OF DOUBLE-DIGIT INCOME GROWTH
LOS ANGELES, JULY 13, 2000 -- City National Corporation (NYSE: CYN), parent
company of wholly owned City National Bank, today reported record net income of
$33.4 million for the second quarter of 2000, a 28 percent increase from net
income of $26.1 million in the second quarter of 1999, and an 8 percent increase
from the first quarter of 2000. Net income per diluted common share of $0.68 per
share increased 24 percent, compared with $0.55 per share in the second quarter
of 1999, and was 3 percent higher than the $0.66 per share reported for the 2000
first quarter.
City National Corporation also achieved record net income of $64.5 million for
the first half of 2000, an increase of 24 percent over net income of $52.1
million for the first half of 1999. Net income per diluted common share
increased by 22 percent to $1.34 per share, from $1.10 per share in the first
half of 1999. These results reflect, in part, the integration of The Pacific
Bank, acquired in February 2000, and American Pacific State Bank, acquired in
August 1999, into City National Bank.
Cash net income, which excludes the amortization of core deposit intangibles and
goodwill from acquisitions, increased 35 percent to $37.2 million, or $0.76 per
diluted common share, for the second quarter of 2000 from $27.6 million, or
$0.58 per diluted common share, for the second quarter of 1999. It also
increased 10 percent from $33.9 million, or $0.72 per diluted common share, over
the first quarter of 2000. For the first half of 2000, cash net income increased
29 percent to $71.1 million, or $1.48 per diluted common share, from $55.2
million, or $1.17 per diluted common share, for the first half of 1999.
1
<PAGE>
"City National's strong financial performance this quarter demonstrates again
that, as California's premier private and business bank, City National continues
to enhance the financial solutions it provides to a growing number of
California's best businesses, entrepreneurs, professionals and investors. This,
in turn, contributed to our 24th consecutive quarter of year-over-year
double-digit earnings increases - six consecutive years of consistent quality
growth," said Russell Goldsmith, CEO of City National Corporation.
"We also reported significant growth in deposits, loans, assets and noninterest
income while, in this quarter, our talented team also completed the seamless
integration of The Pacific Bank," Goldsmith added. "We were able to produce this
strong level of earnings while at the same time, investing in enhanced
capabilities and adding to the allowance for credit losses, which reflects our
long-standing commitment to maintain a strong balance sheet."
RETURN ON ASSETS/RETURN ON EQUITY
The Corporation's return on average assets in the second quarter of 2000 was
1.58 percent, compared with 1.68 percent in the 1999 second quarter. The return
on average shareholders' equity rose to 20.37 percent, compared with 18.62
percent for the prior-year quarter. For the first six months of 2000, the return
on average assets was 1.60 percent and the return on average shareholders'
equity was 20.60 percent, compared with a 1.71 percent return on average assets
and an 18.65 percent return on average shareholders' equity for the first six
months of 1999.
On a cash basis (which excludes goodwill and the after-tax impact of
nonqualifying core deposit intangibles from average assets and average
shareholders' equity), the return on average assets in the second quarter of
2000 was 1.79 percent, the same as the year-ago quarter. The return on average
shareholders' equity rose to 31.28 percent, compared with 21.94 percent for the
prior-year quarter. On a cash basis, for the first six months of 2000, the
return on average assets was 1.80 percent and the return on average
shareholders' equity was 29.00 percent, compared with a 1.82 percent return on
average assets and a 22.06 percent return on average shareholders' equity for
the first six months of 1999.
ASSETS
Total average assets rose to a record $8.5 billion in the second quarter of
2000, an increase of 37 percent over the $6.2 billion in average assets in the
second quarter of 1999 and $0.9 billion higher than the first quarter of 2000.
For the six months ended June 30, 2000, total average assets increased 31
percent to $8.1 billion, compared with $6.2 billion for the same period a year
ago. Total assets at June 30, 2000 were $8.7 billion compared with total assets
of $6.3 billion at June 30, 1999 and total assets of $8.4 billion at March 31,
2000.
2
<PAGE>
LOANS
Average loans rose 38 percent during the second quarter of 2000 to $6.3 billion
compared with the second quarter of 1999. Average loans increased 10 percent
from the 2000 first quarter. Loan growth was driven primarily by increases in
commercial loans and real estate commercial mortgages. Compared with the
year-ago quarter, commercial loan average balances rose 33 percent from $2.5
billion to $3.3 billion. Real estate commercial mortgage averages rose 72
percent from $0.8 billion to $1.3 billion. Growth in all other loan categories
also contributed to the increase in average loans over the prior-year quarter.
For the first six months of 2000, average loans increased 32 percent to $6.0
billion from $4.6 billion for the first six months of 1999.
Total loans at June 30, 2000 were $6.3 billion, compared with $4.7 billion at
June 30, 1999 and $6.2 billion at March 31, 2000. During the first half of 2000,
total loans increased $855 million, or 16 percent. Loans originated as part of a
client relationship accounted for the increase. Non-relationship, syndicated
loans declined $94.5 million, or 18 percent during the first half of 2000, to
$442 million and represented less than 7 percent of the loan portfolio at June
30, 2000.
DEPOSITS
Average deposits rose 38 percent during the second quarter of 2000 to $6.3
billion, compared with the second quarter of 1999, and increased 11 percent from
the 2000 first quarter. Approximately 60 percent of the increase in average
deposits between the first and second quarters of 2000 was attributable to The
Pacific Bank integration. During the first six months of 2000, average deposits
increased 34 percent to $6.0 billion, compared with $4.5 billion for the same
period a year ago. Deposits totaled $6.4 billion at June 30, 2000, compared with
$4.7 billion at June 30, 1999 and $6.4 billion at March 31, 2000.
NET INTEREST INCOME
As a result of the strong loan and core deposit growth and a higher prime rate,
net interest income on a fully taxable-equivalent basis rose 37 percent to
$107.8 million, compared with $78.7 million for the second quarter of 1999, and
increased 13 percent from $95.3 million for the first quarter of 2000. Net
interest income was $203.1 million for the first half of 2000, an increase of 28
percent over $158.9 million for the first half of 1999. Interest recovered on
nonaccrual and charged-off loans was $1.3 million for the second quarter of
2000, compared with $0.6 million for the second quarter of 1999 and $1.0 million
for the first quarter of 2000. Interest recovered was $2.3 million in the first
half of 2000, compared with $4.1 million for the first half of 1999.
The fully taxable-equivalent net interest margin was 5.58 percent for the
quarter ended June 30, 2000 and 5.53 percent for the first half of 2000,
compared with 5.48 percent and 5.55 percent for the quarter and first half of
1999, respectively. The net interest margin for the second quarter was slightly
higher than the 5.47 percent for the first quarter of 2000, primarily due to an
increase in the prime rate.
3
<PAGE>
NONINTEREST INCOME
Noninterest income continued its strong growth, increasing 24 percent to $26.8
million for the second quarter 2000 over the same quarter of 1999. This growth
reflects an 11 percent increase in the noninterest income reported, over the
$24.2 million for the first quarter of 2000. Noninterest income for the first
six months of this year of $51.0 million increased 25 percent over the $40.8
million for the first six months of 1999. Noninterest income was 21 percent of
total revenues for the first six months of both 2000 and 1999.
All categories of recurring noninterest income increased over the prior-year
period, reflecting the Corporation's emphasis on growing fee income. Investment
services and trust fees rose as a result of a strong cross-selling program to
existing City National Bank customers, and business generated from new customers
as a result of direct sales activities by City National Investments (CNI), a
division of City National Bank. Assets under administration by CNI were $15.5
billion at June 30, 2000, including $5.4 billion under management, compared with
$13.3 billion and $3.5 billion, respectively, at June 30, 1999, and $14.9
billion and $4.8 billion at March 31, 2000. The increase in assets under
management is primarily attributable to the new CNI Charter Funds introduced in
1999 and 2000. International services income rose significantly as a result of
increased foreign exchange fees. There were no material gains on the sale of
assets and securities for the quarter, and a gain of $0.2 million for the six
months of 2000, compared with $2.3 million in the prior-year quarter and $3.6
million for the first six months of 1999.
NONINTEREST EXPENSE
Noninterest expense was $76.1 million for the second quarter of 2000, compared
with $57.8 million in the second quarter of 1999 and $69.1 million in the first
quarter of 2000. Noninterest expense for the first six months of 2000 increased
$31.5 million to $145.2 million, compared with $113.7 million for the first six
months of 1999. The year-over-year increase in expenses was primarily the result
of additional offices and a substantial number of new colleagues, including
those added through bank acquisitions, as well as higher professional fees and
amortization of goodwill and core deposit intangibles. Salaries and other
employee benefits increased by $9.3 million, or 29 percent, compared with the
second quarter of 1999; they increased by $2.7 million, or 7 percent, compared
with the first quarter of 2000. All other expenses increased $9.0 million, or 35
percent, from the second quarter of 1999, and increased $4.3 million, or 14
percent, from the first quarter of 2000.
CREDIT QUALITY
The Corporation recorded a $4.0 million provision for credit losses for the
second quarter and first half of 2000. There were no credit loss provisions in
the year-earlier periods. Net credit losses for
4
<PAGE>
the second quarter and first half of 2000 were $4.0 million and $7.5 million,
respectively, compared with net credit recoveries of $1.5 million and $4.8
million in the second quarter and first half of 1999. The provision for
credit losses during the second quarter reflects a variety of factors,
including levels of net charge-offs, nonaccrual loans and continuing growth
of the loan portfolio.
The allowance for credit losses at June 30, 2000, totaled $140.5 million, or
2.21 percent of outstanding loans. This compares with an allowance of $140.2
million, or 2.97 percent of outstanding loans at June 30, 1999, and an
allowance of $140.5 million, or 2.28 percent of outstanding loans at March
31, 2000. The allowance for credit losses as a percentage of nonaccrual loans
was 401 percent at June 30, 2000, compared with 528 percent at June 30, 1999
and 434 percent at March 31, 2000. Total non-performing assets (nonaccrual
loans and ORE) were $35.5 million, or 0.56 percent of total loans and ORE at
June 30, 2000, compared with $28.2 million, or 0.60 percent, at June 30, 1999
and $32.8 million, or 0.53 percent, at March 31, 2000.
CAPITAL LEVELS
Total risk-based capital and Tier 1 risk-based capital ratios at June 30, 2000
were 10.56 percent and 7.49 percent, compared with the capitalization ratios of
10.00 percent and 6.00 percent required for an institution to be classified as
"well-capitalized." The Corporation's Tier 1 leverage ratio of 6.19 percent
exceeded the regulatory minimum of 4.00 percent required for a
"well-capitalized" institution. Total risk-based capital, Tier 1 risk-based
capital, and the Tier 1 leverage ratio were 10.32 percent, 7.21 percent, and
6.46 percent, respectively, at March 31, 2000.
STOCK REPURCHASE
Since the current stock buyback program of one million common shares was
announced on July 29, 1999, 731,100 shares have been repurchased for a cost of
$23.5 million. No shares were repurchased in the second quarter of 2000. The
shares purchased under the buyback program have been reissued for acquisitions,
upon the exercise of stock options, and for other general corporate purposes.
There were no Treasury shares at June 30, 2000.
ABOUT CITY NATIONAL
City National Corporation is a publicly owned corporation with $8.7 billion in
total assets whose stock is traded on the New York Stock Exchange under the
symbol "CYN." The Corporation's wholly owned subsidiary, City National Bank, is
the premier independent business and private bank headquartered in California.
City National Bank, which provides banking, trust, and investment services, has
49 California offices located throughout Los Angeles, Orange, Riverside, San
Bernardino, San Diego, San Francisco, San Mateo and Ventura counties, and a loan
production office in Sacramento.
For more information about the Corporation, our Fax-On-Demand Information
Service is at 1.800.873.5293, and the Corporation's web page is at
http://www.cnb.com.
5
<PAGE>
This press release contains forward-looking statements about the Corporation for
which the Corporation claims the protection of the safe harbor contained in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
include information concerning the Corporation's possible or assumed future
financial condition, and its results of operations and business.
Forward-looking statements are subject to risks and uncertainties. A number of
factors, some of which are beyond the Corporation's ability to control or
predict, could cause actual results to differ materially from those contemplated
by such forward looking statements. These factors include (1) an economic
slowdown in California, (2) changes in interest rates, (3) significant changes
in banking laws or regulations, (4) increased competition in the Corporation's
market, and (5) higher than expected credit losses.
For a more complete discussion of these risks and uncertainties, please see the
Corporation's Quarterly Report on Form 10-Q for the quarter-ended March 31, 2000
and particularly the section of Management's Discussion and Analysis therein
entitled "Cautionary Statement for Purposes of the 'Safe Harbor' Provisions of
the Private Securities Litigation Reform Act of 1995."
6
<PAGE>
Earnings Release
July 13, 2000
Page 7
CITY NATIONAL CORPORATION
-------------------------------------------------------------------------------
CONSOLIDATED BALANCE SHEET (UNAUDITED)
-------------------------------------------------------------------------------
<TABLE>
<CAPTION>
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) JUNE 30,
--------------------------------------------------
2000 1999 % CHANGE
--------------- ---------------- -------------
<S> <C> <C> <C>
Assets
Cash and due from banks $ 448,501 $ 264,476 70
Securities 1,442,108 1,065,561 35
Federal funds sold 50,000 50,000 -
Loans (net of allowance for credit
losses of $140,484 and $140,185) 6,204,711 4,582,554 35
Other assets 531,448 339,517 57
--------------- ----------------
Total assets $ 8,676,768 $ 6,302,108 38
=============== ================
Liabilities and Shareholders' Equity
Noninterest-bearing deposits $ 2,678,556 $ 2,148,956 25
Interest-bearing deposits 3,716,298 2,535,369 47
--------------- ----------------
Total deposits 6,394,854 4,684,325 37
Federal funds purchased and securities sold
under repurchase agreements 243,604 308,642 (21)
Other short term borrowed funds 955,163 346,137 176
Subordinated debt 123,547 123,359 -
Other long-term debt 180,000 230,000 (22)
Other liabilities 107,578 48,229 123
--------------- ----------------
Total liabilities 8,004,746 5,740,692 39
Shareholders' equity 672,022 561,416 20
--------------- ----------------
Total liabilities and shareholders' equity $ 8,676,768 $ 6,302,108 38
=============== ================
Book value per share $ 14.11 $ 12.26 15
Number of shares at period end 47,623,014 45,788,070 4
</TABLE>
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
------------------------------------------------------------------------------
<TABLE>
<CAPTION>
(DOLLARS IN THOUSANDS, FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
EXCEPT PER SHARE AMOUNTS) JUNE 30, JUNE 30,
--------------------------------------------- ---------------------------------------------
2000 1999 % CHANGE 2000 1999 % CHANGE
--------------- ---------------- -------- --------------- ---------------- --------
<S> <C> <C> <C> <C> <C> <C>
Interest income $ 164,076 $ 110,370 49 $ 306,143 $ 221,862 38
Interest expense (59,432) (34,258) 73 (109,252) (68,070) 60
--------------- ---------------- --------------- ----------------
Net interest income 104,644 76,112 37 196,891 153,792 28
Provision for credit losses (4,000) - N/M (4,000) - N/M
--------------- ---------------- --------------- ----------------
Net interest income after
provision for credit losses 100,644 76,112 32 192,891 153,792 25
Noninterest income 26,790 21,687 24 51,033 40,832 25
Noninterest expense (76,074) (57,834) 32 (145,159) (113,735) 28
--------------- ---------------- --------------- ----------------
Income before taxes 51,360 39,965 29 98,765 80,889 22
Income taxes (17,915) (13,859) 29 (34,312) (28,782) 19
--------------- ---------------- --------------- ----------------
Net income $ 33,445 $ 26,106 28 $ 64,453 $ 52,107 24
=============== ================ =============== ================
Net income per share, basic $ 0.70 $ 0.57 23 $ 1.38 $ 1.14 21
=============== ================ =============== ================
Net income per share, diluted $ 0.68 $ 0.55 24 $ 1.34 $ 1.10 22
=============== ================ =============== ================
Dividends paid per share $ 0.18 $ 0.17 6 $ 0.35 $ 0.33 6
=============== ================ =============== ================
Shares used to compute per
share net income, basic 47,540,159 45,739,057 46,791,844 45,864,300
Shares used to compute per
share net income, diluted 48,936,743 47,120,556 47,986,361 47,228,505
</TABLE>
<PAGE>
Earnings Release
July 13, 2000
Page 8
CITY NATIONAL CORPORATION
------------------------------------------------------------------------------
SELECTED FINANCIAL INFORMATION (UNAUDITED) (DOLLARS IN THOUSANDS)
------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PERIOD END JUNE 30,
--------------------------------------------------
2000 1999 % CHANGE
--------------- ---------------- -------------
<S> <C> <C> <C>
Loans
Commercial $ 3,224,904 $ 2,537,110 27
Residential first mortgage 1,238,224 1,044,656 19
Real estate commercial mortgage 1,395,187 802,246 74
Real estate construction 421,178 288,501 46
Installment 65,702 50,226 31
--------------- ----------------
Total loans $ 6,345,195 $ 4,722,739 34
=============== ================
Allowance for Credit Losses
Beginning balance $ 144,004 $ 135,339 6
Provision for credit losses 4,000 - N/M
Charge-offs 14,413 2,619 450
Recoveries 6,893 7,465 (8)
--------------- ----------------
Net (charge-offs) recoveries (7,520) 4,846 N/M
--------------- ----------------
Ending balance $ 140,484 $ 140,185 0
=============== ================
Nonaccrual loans and ORE
Nonaccrual loans $ 35,077 $ 26,533 32
ORE 447 1,696 (74)
--------------- ----------------
Total nonaccrual loans and ORE $ 35,524 $ 28,229 26
=============== ================
Loans past due 90 days or more on accrual status,
including credits in the process of being paid or
renewed and not anticipated to move to nonaccrual status $ 5,703 $ 8,904 (36)
=============== ================
Restructured loans on accrual status $ 2,532 $ 1,771 49
=============== ================
Deposits
Noninterest bearing $ 2,678,556 $ 2,148,956 25
Interest-bearing, core 2,374,630 1,663,220 43
--------------- ----------------
Total core deposits 5,053,186 3,812,176 33
Time deposits - $100,000 and over 1,341,668 872,149 54
--------------- ----------------
Total deposits $ 6,394,854 $ 4,684,325 37
=============== ================
</TABLE>
<TABLE>
<CAPTION>
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
AVERAGE BALANCES JUNE 30, JUNE 30,
------------------------------------- -----------------------------------------
2000 1999 % CHANGE 2000 1999 % CHANGE
----------- ---------- -------- ----------- ---------- --------
<S> <C> <C> <C> <C> <C> <C>
Loans
Commercial $3,303,927 $2,486,626 33 $3,127,413 $2,460,056 27
Residential first mortgage 1,225,906 1,018,360 20 1,216,906 1,027,516 18
Real estate commercial mortgage 1,336,108 776,706 72 1,238,711 761,954 63
Real estate construction 403,339 271,802 48 390,386 258,728 51
Installment 62,441 49,120 27 62,614 48,780 28
------------ ------------ ------------ ------------
Total loans $6,331,721 $4,602,614 38 $6,036,030 $4,557,034 32
============ ============ ============ ============
Securities $1,381,920 $1,140,966 21 $1,295,400 $1,116,508 16
Interest-earning assets 7,768,320 5,781,505 34 7,387,367 5,710,939 29
Assets 8,525,861 6,219,097 37 8,093,736 6,160,277 31
Core deposits 5,072,101 3,725,673 36 4,796,929 3,685,248 30
Deposits 6,277,831 4,564,235 38 5,977,097 4,467,123 34
Shareholders' equity 660,325 562,429 17 629,246 563,355 12
</TABLE>
<PAGE>
Earnings Release
July 13, 2000
Page 9
<TABLE>
<CAPTION>
CITY NATIONAL CORPORATION
-----------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL INFORMATION (UNAUDITED) (DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
-----------------------------------------------------------------------------------------------------------------------------------
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
JUNE 30, JUNE 30,
----------------------------------- -----------------------------------
2000 1999 % CHANGE 2000 1999 % CHANGE
---------- --------- -------- --------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
SELECTED RATIOS
FOR THE PERIOD
Return on average assets 1.58% 1.68% (6) 1.60% 1.71% (6)
Return on average shareholders' equity 20.37 18.62 9 20.60 18.65 10
Net interest margin 5.58 5.48 2 5.53 5.55 -
Efficiency ratio 56.51 57.54 (2) 57.13 56.91 -
Dividend payout ratio 24.85 28.94 (14) 25.18 29.14 (14)
PERIOD END
Tier 1 risk-based capital ratio 7.49 9.82 (24)
Total risk-based capital ratio 10.56 13.53 (22)
Tier 1 leverage ratio 6.19 8.18 (24)
Nonaccrual loans to total loans 0.55 0.56 (2)
Nonaccrual loans and ORE to
total loans and ORE 0.56 0.60 (7)
Allowance for credit losses to
total loans 2.21 2.97 (26)
Allowance for credit losses to
nonaccrual loans 400.50 528.34 (24)
Cash net income and ratios (reported net income net of goodwill and
nonqualifying core deposit intangibles) (1)
Cash net income $ 37,154 $ 27,556 35 $ 71,054 $ 55,155 29
Cash net income per share, basic 0.78 0.60 30 1.52 1.20 27
Cash net income per share, diluted 0.76 0.58 31 1.48 1.17 26
Cash return on average assets 1.79% 1.79% - 1.80% 1.82% (1)
Cash return on average shareholders' equity 31.28 21.94 43 29.00 22.06 31
Cash efficiency ratio 53.26 55.63 (4) 54.03 54.92 (2)
</TABLE>
(1) Nonqualifying core deposit intangible (CDI) amortization and average balance
excluded from these calculations are, with the exception of the efficiency
ratio, net of applicable taxes. The after-tax amounts for the amortization
and average balance of nonqualifying CDI were $0.9 million and $16.1
million, respectively, for the quarter ended June 30, 2000 and $0.6 million
and $17.2 million, respectively, for the three months ended June 30, 1999.
Goodwill amortization and average balance (which are not tax effected) were
$1.7 million and $166.6 million, respectively, for the quarter ended June
30, 2000 and $0.8 million and $41.4 million respectively, for the three
months ended June 30, 1999. The Company's cash earnings per share are not
necessarily comparable to similarly titled measures reported by other
companies.
<TABLE>
<CAPTION>
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
JUNE 30, JUNE 30,
--------------------------------- ------------------------------------
2000 1999 % CHANGE 2000 1999 % CHANGE
--------- ---------- -------- --------- --------- --------
<S> <C> <C> <C> <C> <C> <C>
NONINTEREST INCOME
Service charges on deposit accounts $ 5,749 $ 4,090 41 $ 11,306 $ 8,165 38
Investment services 6,436 4,619 39 12,333 8,939 38
Trust fees 5,389 4,474 20 10,449 8,865 18
International services 3,749 2,395 57 7,057 4,386 61
Bank owned life insurance 657 541 21 1,278 1,080 18
Other 4,815 3,255 48 8,387 5,773 45
---------- ---------- ----------- -----------
Subtotal 26,795 19,374 38 50,810 37,208 37
Gain on sale of loans and assets - 1,121 (100) 5 1,179 (100)
Gain on sale of securities (5) 1,192 (100) 218 2,445 (91)
---------- ---------- ----------- -----------
Total $ 26,790 $ 21,687 24 $ 51,033 $ 40,832 25
========== ========== =========== ===========
NONINTEREST EXPENSE
Salaries and other employee benefits $ 41,587 $ 32,313 29 $ 80,438 $ 64,826 24
---------- ---------- ----------- -----------
All Other
Professional 6,306 4,926 28 11,691 9,711 20
Net occupancy of premises 5,743 4,486 28 10,548 7,972 32
Information services 3,409 2,938 16 6,996 5,459 28
Marketing and advertising 3,621 2,581 40 6,324 5,145 23
Depreciation 3,241 2,705 20 6,281 5,149 22
Office services 2,776 2,029 37 4,842 3,865 25
Amortization of goodwill and core
deposit intangibles 4,379 1,911 129 7,868 3,971 98
Equipment 737 473 56 1,202 1,124 7
Acquisition integration 13 26 (50) 1,322 26 N/M
Other operating 4,262 3,446 24 7,647 6,487 18
---------- ---------- ----------- -----------
Total all other 34,487 25,521 35 64,721 48,909 32
---------- ---------- ----------- -----------
Total $ 76,074 $ 57,834 32 $ 145,159 $ 113,735 28
========== ========== =========== ===========
(Released to Business Wire this date)
</TABLE>
