UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
(X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1997
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission File Number 0-7601
STAR BANC CORPORATION
(Exact name of registrant as specified in its charter)
Ohio 31-0838189
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
425 Walnut Street, Cincinnati, OH 45202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (513) 632-4000
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
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.
85,424,416 common shares, par value $5, outstanding at April 30, 1997
-1-
EXHIBIT 11 COMPUTATION OF EARNINGS PER SHARE
For the Periods Ended March 31
(Dollars in thousands except per share data)
First Quarter
1997 1996 (a)
Net income.......................... $ 45,273 $ 38,128
Preferred dividends................. -- 5
Income available to common
shareholders...................... $ 45,273 $ 38,123
Weighted average of common
stock equivalents.................. 86,795 89,409
Weighted average of preferred
stock convertible to common
stock equivalents................. -- 45
Weighted average of fully
diluted common stock equivalents... 86,795 89,454
Primary earnings per share
(income available to common
shareholders divided by weighted
average of common stock
equivalents)...................... $ 0.52 $ 0.43
Fully diluted earnings per share
(net income divided by weighted
average of fully diluted
common stock equivalents)......... $ 0.52 $ 0.43
Note: The effect of stock options outstanding are not dilutive to
earnings per share as defined in APB 15 and therefore are not
included with the above calculations.
(a) Per share amounts and weighted average shares have been
restated to reflect a 3-for-1 stock split in December, 1996.
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED STATEMENTS OF INCOME, THE CONSOLIDATED BALANCE SHEETS, AND THE
CONSOLIDATED STATEMENTS OF CASH FLOWS AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> MAR-31-1997
<CASH> 446,586
<INT-BEARING-DEPOSITS> 100
<FED-FUNDS-SOLD> 64,215
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 1,246,524
<INVESTMENTS-CARRYING> 163,981
<INVESTMENTS-MARKET> 1,410,297
<LOANS> 7,802,799
<ALLOWANCE> 122,029
<TOTAL-ASSETS> 10,181,000
<DEPOSITS> 7,940,310
<SHORT-TERM> 945,541
<LIABILITIES-OTHER> 219,562
<LONG-TERM> 247,437
0
0
<COMMON> 452,407
<OTHER-SE> 375,743
<TOTAL-LIABILITIES-AND-EQUITY> 10,181,000
<INTEREST-LOAN> 167,412
<INTEREST-INVEST> 24,422
<INTEREST-OTHER> 365
<INTEREST-TOTAL> 192,199
<INTEREST-DEPOSIT> 64,607
<INTEREST-EXPENSE> 80,135
<INTEREST-INCOME-NET> 112,064
<LOAN-LOSSES> 13,639
<SECURITIES-GAINS> (2,121)
<EXPENSE-OTHER> 76,179
<INCOME-PRETAX> 67,677
<INCOME-PRE-EXTRAORDINARY> 45,273
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 45,273
<EPS-PRIMARY> 0.52
<EPS-DILUTED> 0.52
<YIELD-ACTUAL> 8.48
<LOANS-NON> 34,931
<LOANS-PAST> 10,633
<LOANS-TROUBLED> 15
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 118,689
<CHARGE-OFFS> 14,516
<RECOVERIES> 4,217
<ALLOWANCE-CLOSE> 122,029
<ALLOWANCE-DOMESTIC> 122,029
<ALLOWANCE-FOREIGN> 0
<ALLOWANCE-UNALLOCATED> 0
</TABLE>
