SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________________________________________________
FORM 10-Q / A
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For Quarter Ended Commission File Number
September 30, 1994 1-6906
________________________________________________________________________
FIRST SECURITY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 87-6118148
(State of incorporation) (I.R.S. Employer Identification No.)
79 South Main, P.O. Box 30006
Salt Lake City, Utah 84130-0006
(Address of principal executive offices) (Zip Code)
(801) 246-5706
(Registrant's 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 requirements for the past 90 days.
Yes [X] No
As of October 31, 1994, outstanding shares of common stock were:
Common Stock, par value $1.25 - 49,512,506
(net of 387,170 treasury shares)
This 10-Q / A has been filed to furnish separate EDGAR documents for
"Exhibit 11: Computation of Earnings Per Share" and "Exhibit 27:
Financial Data Schedule" that were originally incorporated within the
EDGAR 10-Q document filed previously.
<PAGE>
FIRST SECURITY CORPORATION
INDEX
Part I. Financial Information
Item 1. Financial Statements:
Condensed Consolidated Statements of Income -
Three Months and Year-To-Date Nine Months Ended
September 30, 1994 and 1993
Condensed Consolidated Balance Sheets -
September 30, 1994, December 31, 1993, and September 30, 1993
Condensed Consolidated Statements of Cash Flows -
Year-To-Date Nine Months Ended
September 30, 1994 and 1993
Notes to Condensed Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations:
Management's Discussion and Analysis of Financial Condition and
Results of Operations
Supplemental Tables:
Financial Highlights, Risk-Based Capital Ratios
Mergers and Acquisitions
Loans Outstanding
Rate / Volume Analysis
Part II. Other Information
Item 1. Legal Proceedings
Item 6. Exhibits and Reports on Form 8-K
Signatures
Exhibit 11. Computation of Earnings Per Share
Exhibit 27. Financial Data Schedule
<PAGE>
SIGNATURES
Pursuant to the requirements of the Security Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
FIRST SECURITY CORPORATION
DATE: December 20, 1994 BY____[SIGNED]______________________________
Scott C. Ulbrich
Executive Vice President and
Chief Financial Officer
(Principal Financial and Accounting Officer)
# # #
<TABLE>
EXHIBIT 11. Computation of Earnings Per Share
FIRST SECURITY CORPORATION
COMPUTATION OF EARNINGS PER SHARE
For the Periods Ended September 30, 1994 and 1993
<CAPTION>
Three Months YearToDate Nine Months
(in thousands, except per share amounts; unaudited) 1994 1993 1994 1993
<S> <C> <C> <C> <C>
- --------------------------------------------------- ---------- ---------- ---------- ----------
Net Income:
Per statement of consolidated income.............. $36,784 $32,587 $105,166 $92,992
Deduct dividend requirements of preferred stock... 10 10 30 32
- --------------------------------------------------- ---------- ---------- ---------- ----------
Net income applicable to common stock............... 36,774 32,577 105,136 92,960
Add dividend requirements of preferred stock...... 10 10 30 32
- --------------------------------------------------- ---------- ---------- ---------- ----------
Net income assuming full dilution................... $36,784 $32,587 $105,166 $92,992
=================================================== ========== ========== ========== ==========
Net Income Per Share:
Assuming no dilution.............................. $0.73 $0.68 $2.11 $1.96
Assuming full dilution............................ $0.73 $0.68 $2.11 $1.95
=================================================== ========== ========== ========== ==========
Average common shares outstanding:
Average common shares outstanding................. 49,873 47,267 49,357 46,782
Common stock equivalents (options)................ 1,047 1,062 1,031 1,135
Treasury shares..................................... (570) (348) (600) (387)
- --------------------------------------------------- ---------- ---------- ---------- ----------
Assuming no dilution ............................. 50,350 47,981 49,788 47,530
Issuable assuming conversion of preferred stock... 155 166 158 170
- --------------------------------------------------- ---------- ---------- ---------- ----------
Assuming full dilution............................ 50,505 48,147 49,946 47,700
=================================================== ========== ========== ========== ==========
<FN>
Note: Per share amounts assuming full dilution were computed assuming all outstanding shares of
preferred stock were converted into common shares on the basis of 12.15 shares of common for
each share of preferred, with the elimination of dividends on the preferred stock. Common stock
equivalents are common stock options outstanding accounted for on the treasury stock method for
purposes of these calculations.
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 9
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1993
<PERIOD-START> JAN-01-1994
<PERIOD-END> SEP-30-1994
<CASH> 600,192
<INT-BEARING-DEPOSITS> 1,882
<FED-FUNDS-SOLD> 70,109
<TRADING-ASSETS> 398,087
<INVESTMENTS-HELD-FOR-SALE> 2,087,639
<INVESTMENTS-CARRYING> 260,485
<INVESTMENTS-MARKET> 2,347,984
<LOANS> 7,745,350
<ALLOWANCE> 134,653
<TOTAL-ASSETS> 11,604,889
<DEPOSITS> 7,935,484
<SHORT-TERM> 2,298,101
<LIABILITIES-OTHER> 192,857
<LONG-TERM> 292,058
<COMMON> 885,721
0
668
<OTHER-SE> 0
<TOTAL-LIABILITIES-AND-EQUITY> 11,604,889
<INTEREST-LOAN> 443,418
<INTEREST-INVEST> 88,797
<INTEREST-OTHER> 29,393
<INTEREST-TOTAL> 561,608
<INTEREST-DEPOSIT> 147,341
<INTEREST-EXPENSE> 218,460
<INTEREST-INCOME-NET> 343,148
<LOAN-LOSSES> 351
<SECURITIES-GAINS> (40)
<EXPENSE-OTHER> 329,914
<INCOME-PRETAX> 165,668
<INCOME-PRE-EXTRAORDINARY> 105,166
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 105,166
<EPS-PRIMARY> 2.11
<EPS-DILUTED> 2.11
<YIELD-ACTUAL> 4.74
<LOANS-NON> 20,232
<LOANS-PAST> 9,265
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 20,860
<ALLOWANCE-OPEN> 134,848
<CHARGE-OFFS> 18,160
<RECOVERIES> 14,428
<ALLOWANCE-CLOSE> 134,653
<ALLOWANCE-DOMESTIC> 134,653
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
