<PAGE> 1
EXHIBIT (99)
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 2000
---------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 85 292 31 -- 408
Provision for loan losses 34 53 -- -- 87
Fee and other income 425 53 53 (31) 500
Noninterest expense 248 108 37 -- 393
Income tax expense 80 70 18 (31) 137
---------------------------------------------------------------------------------------------------------------------------------
Net income $ 148 114 29 -- 291
---------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 32.63 % 13.21 19.37 -- 19.84
Average loans, net $ 6,912 32,091 4,887 -- 43,890
Average deposits 7,470 5,391 4,224 -- 17,085
Average attributed stockholders'
equity (b) $ 1,821 3,470 607 -- 5,898
=================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data $
Net interest income 45 56 2 59 -- 162
Provision for loan losses -- -- -- -- -- -
Fee and other income 546 183 130 38 (25) 872
Noninterest expense 482 142 67 38 -- 729
Income tax expense 41 37 25 23 (9) 117
---------------------------------------------------------------------------------------------------------------------------------
Net income $ 68 60 40 36 (16) 188
---------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 39.41 % 52.17 65.30 72.72 -- 50.47
Average loans, net $ -- 4,130 -- 1 -- 4,131
Average deposits -- 5,941 -- 14,407 -- 20,348
Average attributed stockholders'
equity (b) $ 684 461 184 203 (32) 1,500
=================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 10 134 57 632 833
Provision for loan losses - 23 28 22 73
Fee and other income 46 15 59 209 329
Noninterest expense 55 156 61 597 869
Income tax expense - (11) 10 85 84
---------------------------------------------------------------------------------------------------------------------------------
Net income $ 1 (19) 17 137 136
---------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 2.11 % (5.89) 13.38 29.27 14.66
Average loans, net $ 436 13,718 1,769 10,631 26,554
Average deposits 764 212 15 67,276 68,267
Average attributed stockholders'
equity (b) $ 73 1,265 495 1,885 3,718
=================================================================================================================================
</TABLE>
(Continued)
1
<PAGE> 2
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 2000
---------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 20 71 45 203 339
Provision for loan losses 1 7 5 -- 13
Fee and other income -- -- -- 144 144
Noninterest expense 11 46 15 194 266
Income tax expense 3 6 10 58 77
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 5 12 15 95 127
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 11.58 % 5.94 15.87 57.06 24.99
Average loans, net $ 2,796 14,647 9,003 -- 26,446
Average deposits -- -- -- 21,620 21,620
Average attributed stockholders'
equity (b) $ 160 816 389 663 2,028
================================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 408 162 833 339 224 1,966
Provision for loan losses 87 -- 73 13 19 192
Fee and other income 500 872 329 144 (3) 1,842
Noninterest expense 393 729 869 266 125 2,382
Income tax expense 137 117 84 77 (21) 394
--------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 291 188 136 127 98 840
After-tax merger-related and
restructuring charges -- -- -- -- (2) (2)
--------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 291 188 136 127 96 838
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 19.84 % 50.47 14.66 24.99 11.23 20.31
Average loans, net $ 43,890 4,131 26,554 26,446 30,460 131,481
Average deposits 17,085 20,348 68,267 21,620 13,101 140,421
Average attributed stockholders'
equity (b) $ 5,898 1,500 3,718 2,028 3,439 16,583
================================================================================================================================
</TABLE>
(Continued)
2
<PAGE> 3
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three Months Ended December 31, 1999
------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 55 301 34 -- 390
Provision for loan losses 5 64 -- -- 69
Fee and other income 447 51 52 (72) 478
Noninterest expense 230 111 60 -- 401
Income tax expense 95 67 10 (72) 100
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 172 110 16 -- 298
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 39.28% 12.32 9.88 -- 19.94
Average loans, net $ 6,720 31,568 4,904 -- 43,192
Average deposits 4,766 5,501 4,420 -- 14,687
Average attributed stockholders'
equity (b) $ 1,738 3,532 664 -- 5,934
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 38 56 (2) 62 -- 154
Provision for loan losses -- -- -- -- -- --
Fee and other income 452 188 125 34 (26) 773
Noninterest expense 401 135 50 35 -- 621
Income tax expense 34 41 28 23 (10) 116
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 55 68 45 38 (16) 190
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 35.91% 58.73 86.87 73.96 -- 53.66
Average loans, net $ 1 3,896 -- -- -- 3,897
Average deposits -- 5,862 -- 14,245 -- 20,107
Average attributed stockholders'
equity (b) $ 612 452 169 200 (33) 1,400
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 13 136 45 626 820
Provision for loan losses -- 21 35 17 73
Fee and other income 44 30 83 213 370
Noninterest expense 55 196 59 620 930
Income tax expense 1 (19) 13 77 72
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 1 (32) 21 125 115
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 7.93% (9.70) 17.02 26.31 12.46
Average loans, net $ 440 12,685 1,689 10,410 25,224
Average deposits 900 243 15 66,856 68,014
Average attributed stockholders'
equity (b) $ 65 1,262 482 1,882 3,691
=============================================================================================================================
</TABLE>
(Continued)
3
<PAGE> 4
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three Months Ended December 31, 1999
-----------------------------------------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 20 58 42 226 346
Provision for loan losses 1 12 5 -- 18
Fee and other income -- -- -- 140 140
Noninterest expense 12 54 17 192 275
Income tax expense 2 (7) 8 67 70
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 5 (1) 12 107 123
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 10.06% (0.41) 12.78 62.08 23.31
Average loans, net $ 2,756 14,605 8,741 -- 26,102
Average deposits -- -- -- 22,531 22,531
Average attributed stockholders'
equity (b) $ 158 865 386 688 2,097
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 390 154 820 346 235 1,945
Provision for loan losses 69 -- 73 18 13 173
Fee and other income 478 773 370 140 76 1,837
Noninterest expense 401 621 930 275 133 2,360
Income tax expense 100 116 72 70 49 407
-----------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 298 190 115 123 116 842
After-tax merger-related and
restructuring charges -- -- -- -- 4 4
-----------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 298 190 115 123 120 846
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 19.94% 53.66 12.46 23.31 13.36 19.78
Average loans, net $43,192 3,897 25,224 26,102 32,804 131,219
Average deposits 14,687 20,107 68,014 22,531 11,641 136,980
Average attributed stockholders'
equity (b) $ 5,934 1,400 3,691 2,097 3,564 16,686
=============================================================================================================================
</TABLE>
(Continued)
4
<PAGE> 5
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three Months Ended September 30, 1999
---------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------
CAPITAL MARKETS
<S> <C> <C> <C> <C> <C>
Income statement data
Net interest income $ 59 289 26 -- 374
Provision for loan losses 19 48 -- -- 67
Fee and other income 330 33 53 (22) 394
Noninterest expense 203 91 50 -- 344
Income tax expense 56 69 11 (22) 114
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 111 114 18 -- 243
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 28.28% 13.25 11.31 -- 17.17
Average loans, net $ 7,049 30,794 4,837 -- 42,680
Average deposits 4,422 5,218 3,810 -- 13,450
Average attributed stockholders'
equity (b) $ 1,535 3,411 634 -- 5,580
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 20 54 -- 53 -- 127
Provision for loan losses -- -- -- -- -- --
Fee and other income 229 172 118 30 (25) 524
Noninterest expense 198 120 53 31 -- 402
Income tax expense 20 40 25 20 (9) 96
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 31 66 40 32 (16) 153
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 38.88% 61.09 74.65 74.75 -- 58.10
Average loans, net $ -- 3,765 -- -- -- 3,765
Average deposits -- 5,699 -- 14,302 -- 20,001
Average attributed stockholders'
equity (b) $ 325 425 163 168 (31) 1,050
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 19 143 53 620 835
Provision for loan losses -- 20 35 22 77
Fee and other income 41 (29) 99 212 323
Noninterest expense 55 150 52 558 815
Income tax expense 2 (22) 25 96 101
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 3 (34) 40 156 165
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 14.23% (9.79) 33.62 33.37 17.03
Average loans, net $ 464 11,910 2,115 10,582 25,071
Average deposits 1,214 295 9 68,176 69,694
Average attributed stockholders'
equity (b) $ 77 1,411 475 1,847 3,810
=============================================================================================================================
</TABLE>
(Continued)
5
<PAGE> 6
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three Months Ended September 30, 1999
-------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 21 58 44 230 353
Provision for loan losses 1 9 5 -- 15
Fee and other income -- -- -- 144 144
Noninterest expense 10 48 15 181 254
Income tax expense 4 (4) 9 74 83
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 6 5 15 119 145
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 14.93% 2.46 14.78 71.35 26.71
Average loans, net $ 2,792 15,146 8,629 -- 26,567
Average deposits -- -- -- 22,416 22,416
Average attributed stockholders'
equity (b) $ 162 952 391 664 2,169
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 374 127 835 353 193 1,882
Provision for loan losses 67 -- 77 15 16 175
Fee and other income 394 524 323 144 55 1,440
Noninterest expense 344 402 815 254 125 1,940
Income tax expense 114 96 101 83 11 405
-----------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 243 153 165 145 96 802
After-tax merger-related and
restructuring charges -- -- -- -- -- --
-----------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 243 153 165 145 96 802
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 17.17% 58.10 17.03 26.71 14.16 20.47
Average loans, net $42,680 3,765 25,071 26,567 29,251 127,334
Average deposits 13,450 20,001 69,694 22,416 7,863 133,424
Average attributed stockholders'
equity (b) $ 5,580 1,050 3,810 2,169 2,690 15,299
=============================================================================================================================
</TABLE>
(Continued)
6
<PAGE> 7
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 1999
-----------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 78 290 45 -- 413
Provision for loan losses 18 43 -- -- 61
Fee and other income 285 41 51 (27) 350
Noninterest expense 191 102 50 -- 343
Income tax expense 49 70 17 (27) 109
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 105 116 29 -- 250
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 27.48% 13.37 17.35 -- 17.64
Average loans, net $ 7,262 31,477 4,517 -- 43,256
Average deposits 4,872 5,237 4,544 -- 14,653
Average attributed stockholders'
equity (b) $ 1,535 3,497 649 -- 5,681
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 20 54 1 46 -- 121
Provision for loan losses -- (2) -- -- -- (2)
Fee and other income 234 169 110 28 (22) 519
Noninterest expense 208 129 68 31 -- 436
Income tax expense 18 36 17 17 (9) 79
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 28 60 26 26 (13) 127
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 34.08% 56.25 41.62 72.27 -- 49.55
Average loans, net $ -- 3,757 -- -- -- 3,757
Average deposits -- 5,743 -- 14,096 -- 19,839
Average attributed stockholders'
equity (b) $ 334 419 159 149 (28) 1,033
=============================================================================================================================
</TABLE>
<TABLE>
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 21 139 62 608 830
Provision for loan losses 1 18 39 20 78
Fee and other income 109 115 109 212 545
Noninterest expense 66 154 63 589 872
Income tax expense 25 31 26 81 163
-----------------------------------------------------------------------------------------------------------------------------
Net income $ 38 51 43 130 262
-----------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 124.97% 14.66 35.74 29.18 27.90
Average loans, net $ 475 11,881 2,564 16,570 31,490
Average deposits 1,332 66 9 70,364 71,771
Average attributed stockholders'
equity (b) $ 129 1,396 467 1,802 3,794
=============================================================================================================================
</TABLE>
(Continued)
7
<PAGE> 8
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 1999
---------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 23 61 45 211 340
Provision for loan losses 1 14 8 -- 23
Fee and other income -- -- -- 139 139
Noninterest expense 10 59 16 186 271
Income tax expense 4 (11) 7 63 63
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 8 (1) 14 101 122
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 16.30 % (0.27) 12.28 63.88 22.97
Average loans, net $ 2,751 14,347 8,528 -- 25,626
Average deposits -- -- -- 22,530 22,530
Average attributed stockholders'
equity (b) $ 166 879 408 633 2,086
================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 413 121 830 340 141 1,845
Provision for loan losses 61 (2) 78 23 20 180
Fee and other income 350 519 545 139 153 1,706
Noninterest expense 343 436 872 271 131 2,053
Income tax expense 109 79 163 63 31 445
--------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 250 127 262 122 112 873
After-tax merger-related and
restructuring charges -- -- -- -- -- --
--------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 250 127 262 122 112 873
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 17.64 % 49.55 27.90 22.97 14.46 21.94
Average loans, net $ 43,256 3,757 31,490 25,626 27,023 131,152
Average deposits 14,653 19,839 71,771 22,530 4,999 133,792
Average attributed stockholders'
equity (b) $ 5,681 1,033 3,794 2,086 3,107 15,701
================================================================================================================================
</TABLE>
(Continued)
8
<PAGE> 9
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 1999
---------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 60 275 47 -- 382
Provision for loan losses 21 34 -- -- 55
Fee and other income 404 59 48 (28) 483
Noninterest expense 214 106 54 -- 374
Income tax expense 80 72 16 (28) 140
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 149 122 25 -- 296
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 41.24 % 14.16 16.87 -- 21.62
Average loans, net $ 6,963 31,870 4,930 -- 43,763
Average deposits 5,012 5,414 5,512 -- 15,938
Average attributed stockholders'
equity (b) $ 1,465 3,459 614 -- 5,538
================================================================================================================================
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 17 57 1 45 -- 120
Provision for loan losses -- 1 -- -- -- 1
Fee and other income 222 167 107 26 (22) 500
Noninterest expense 199 137 59 31 -- 426
Income tax expense 15 33 18 15 (8) 73
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 25 53 31 25 (14) 120
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 32.23 % 50.90 53.11 69.46 -- 48.00
Average loans, net $ -- 3,722 -- -- -- 3,722
Average deposits -- 5,806 -- 14,161 -- 19,967
Average attributed stockholders'
equity (b) $ 313 424 151 143 (28) 1,003
================================================================================================================================
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 24 116 60 601 801
Provision for loan losses -- 10 46 23 79
Fee and other income 116 86 57 204 463
Noninterest expense 78 161 62 575 876
Income tax expense 23 12 4 79 118
-------------------------------------------------------------------------------------------------------------------------------
Net income $ 39 19 5 128 191
-------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 83.69 % 5.80 5.33 27.81 20.06
Average loans, net $ 488 11,325 2,593 16,182 30,588
Average deposits 1,340 2 10 71,907 73,259
Average attributed stockholders'
equity (b) $ 183 1,341 468 1,856 3,848
================================================================================================================================
</TABLE>
(Continued)
9
<PAGE> 10
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 1999
---------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 20 60 45 218 343
Provision for loan losses 1 6 6 -- 13
Fee and other income -- -- -- 132 132
Noninterest expense 10 52 19 190 271
Income tax expense 4 (5) 8 61 68
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 5 7 12 99 123
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 15.21 % 3.54 12.25 58.96 23.52
Average loans, net $ 2,696 14,604 8,387 -- 25,687
Average deposits -- -- -- 23,528 23,528
Average attributed stockholders'
equity (b) $ 163 908 413 681 2,165
================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 382 120 801 343 134 1,780
Provision for loan losses 55 1 79 13 16 164
Fee and other income 483 500 463 132 372 1,950
Noninterest expense 374 426 876 271 562 2,509
Income tax expense 140 73 118 68 (48) 351
--------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 296 120 191 123 (24) 706
After-tax merger-related and
restructuring charges -- -- -- -- 259 259
--------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 296 120 191 123 235 965
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 21.62 % 48.00 20.06 23.52 27.33 24.32
Average loans, net $ 43,763 3,722 30,588 25,687 25,709 129,469
Average deposits 15,938 19,967 73,259 23,528 3,570 136,262
Average attributed stockholders'
equity (b) $ 5,538 1,003 3,848 2,165 3,487 16,041
================================================================================================================================
</TABLE>
(Continued)
10
<PAGE> 11
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Three Months Ended December 31, 1998
---------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 84 259 59 -- 402
Provision for loan losses (5) 34 10 -- 39
Fee and other income 261 65 47 (21) 352
Noninterest expense 217 115 50 -- 382
Income tax expense 44 66 17 (21) 106
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 89 109 29 -- 227
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 22.20 % 12.93 17.52 -- 16.10
Average loans, net $ 6,871 31,051 5,191 -- 43,113
Average deposits 5,095 5,529 5,923 -- 16,547
Average attributed stockholders'
equity (b) $ 1,595 3,356 643 -- 5,594
================================================================================================================================
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 8 54 1 43 -- 106
Provision for loan losses -- 1 -- -- -- 1
Fee and other income 201 163 108 23 (21) 474
Noninterest expense 185 128 54 30 -- 397
Income tax expense 9 34 21 14 (8) 70
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 15 54 34 22 (13) 112
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 21.08 % 51.91 67.07 70.36 -- 47.53
Average loans, net -- $ 3,808 -- -- -- 3,808
Average deposits -- 5,377 -- 13,123 -- 18,500
Average attributed stockholders'
equity (b) $ 270 414 152 126 (26) 936
================================================================================================================================
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 27 118 57 630 832
Provision for loan losses -- 3 59 23 85
Fee and other income 123 28 90 246 487
Noninterest expense 84 184 70 611 949
Income tax expense 25 (16) 7 93 109
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 41 (25) 11 149 176
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 87.05 % (8.03) 9.26 30.21 17.90
Average loans, net $ 420 8,092 2,647 16,004 27,163
Average deposits 1,407 65 9 73,332 74,813
Average attributed stockholders'
equity (b) $ 184 1,269 465 1,962 3,880
================================================================================================================================
</TABLE>
(Continued)
11
<PAGE> 12
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Three Months Ended December 31, 1998
---------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 22 69 48 217 356
Provision for loan losses 1 13 6 -- 20
Fee and other income -- -- -- 127 127
Noninterest expense 11 54 18 198 281
Income tax expense 4 (5) 9 56 64
--------------------------------------------------------------------------------------------------------------------------------
Net income $ 6 7 15 90 118
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 14.13 % 3.27 12.66 54.17 21.42
Average loans, net $ 2,658 15,074 8,651 -- 26,383
Average deposits -- -- -- 24,618 24,618
Average attributed stockholders'
equity (b) $ 161 908 453 660 2,182
================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 402 106 832 356 102 1,798
Provision for loan losses 39 1 85 20 22 167
Fee and other income 352 474 487 127 302 1,742
Noninterest expense 382 397 949 281 478 2,487
Income tax expense 106 70 109 64 (320) 29
--------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 227 112 176 118 224 857
After-tax merger-related and
restructuring charges -- -- -- -- 136 136
--------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 227 112 176 118 360 993
--------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 16.10 % 47.53 17.90 21.42 33.84 22.49
Average loans, net $ 43,113 3,808 27,163 26,383 32,526 132,993
Average deposits 16,547 18,500 74,813 24,618 2,982 137,460
Average attributed stockholders'
equity (b) $ 5,594 936 3,880 2,182 4,221 16,813
================================================================================================================================
</TABLE>
(Continued)
12
<PAGE> 13
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended September 30, 1998
------------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 49 264 52 -- 365
Provision for loan losses (1) 68 -- -- 67
Fee and other income 38 81 60 (21) 158
Noninterest expense 138 99 41 -- 278
Income tax expense (32) 67 27 (21) 41
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ (18) 111 44 -- 137
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity (5.40)% 13.40 33.18 -- 10.44
Average loans, net $ 5,736 30,363 4,910 -- 41,009
Average deposits 5,146 5,323 4,796 -- 15,265
Average attributed stockholders'
equity (b) $ 1,379 3,310 530 -- 5,219
===================================================================================================================================
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 8 54 1 38 -- 101
Provision for loan losses -- 1 -- -- -- 1
Fee and other income 195 155 105 19 (21) 453
Noninterest expense 180 113 50 27 -- 370
Income tax expense 9 36 21 11 (8) 69
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 14 59 35 19 (13) 114
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 21.53% 58.47 70.69 70.97 -- 50.45
Average loans, net $ -- 3,824 -- -- -- 3,824
Average deposits -- 5,134 -- 11,534 -- 16,668
Average attributed stockholders'
equity (b) $ 268 399 147 103 (27) 890
===================================================================================================================================
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 25 110 94 658 887
Provision for loan losses -- 3 42 35 80
Fee and other income 67 179 161 209 616
Noninterest expense 79 182 72 534 867
Income tax expense 5 40 54 114 213
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 8 64 87 184 343
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 20.69% 18.50 73.62 36.91 34.26
Average loans, net $ 417 7,887 3,638 15,976 27,918
Average deposits 1,413 159 11 75,948 77,531
Average attributed stockholders'
equity (b) $ 143 1,386 471 1,976 3,976
===================================================================================================================================
</TABLE>
(Continued)
13
<PAGE> 14
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended September 30, 1998
------------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 22 81 52 207 362
Provision for loan losses 1 12 6 -- 19
Fee and other income -- -- -- 127 127
Noninterest expense 9 47 13 174 243
Income tax expense 5 3 13 61 82
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 7 19 20 99 145
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 19.11% 8.63 16.70 61.42 26.98
Average loans, net $ 2,648 15,526 9,048 -- 27,222
Average deposits -- -- -- 23,692 23,692
Average attributed stockholders'
equity (b) $ 153 851 490 634 2,128
===================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 365 101 887 362 128 1,843
Provision for loan losses 67 1 80 19 72 239
Fee and other income 158 453 616 127 459 1,813
Noninterest expense 278 370 867 243 164 1,922
Income tax expense 41 69 213 82 95 500
-----------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 137 114 343 145 256 995
After-tax merger-related and
restructuring charges -- -- -- -- 16 16
-----------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 137 114 343 145 272 1,011
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 10.44% 50.45 34.26 26.98 25.51 23.42
Average loans, net $41,009 3,824 27,918 27,222 33,713 133,686
Average deposits 15,265 16,668 77,531 23,692 3,058 136,214
Average attributed stockholders'
equity (b) $ 5,219 890 3,976 2,128 4,231 16,444
===================================================================================================================================
</TABLE>
(Continued)
14
<PAGE> 15
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 1998
------------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 41 269 38 -- 348
Provision for loan losses 6 26 1 -- 33
Fee and other income 299 56 47 (21) 381
Noninterest expense 193 105 54 -- 352
Income tax expense 49 73 11 (21) 112
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 92 121 19 -- 232
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 30.13% 15.63 13.49 -- 19.09
Average loans, net $ 5,246 29,512 5,088 -- 39,846
Average deposits 4,021 5,117 4,484 -- 13,622
Average attributed stockholders'
equity (b) $ 1,233 3,086 530 -- 4,849
===================================================================================================================================
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 10 53 1 39 -- 103
Provision for loan losses -- 2 -- -- -- 2
Fee and other income 194 157 102 18 (23) 448
Noninterest expense 170 130 56 26 -- 382
Income tax expense 13 30 18 12 (9) 64
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 21 48 29 19 (14) 103
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 31.47% 48.85 52.23 72.05 -- 46.81
Average loans, net $ 1 3,608 -- -- -- 3,609
Average deposits -- 4,787 -- 11,150 -- 15,937
Average attributed stockholders'
equity (b) $ 267 396 145 105 (29) 884
===================================================================================================================================
<CAPTION>
Home
Equity &
First The Retail
Union Money Credit Branch
(In millions) Mortgage Store Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 24 41 83 673 821
Provision for loan losses -- 3 57 19 79
Fee and other income 99 11 74 222 406
Noninterest expense 79 26 62 567 734
Income tax expense 17 9 15 118 159
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 27 14 23 191 255
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 62.62% 21.40 20.21 37.36 34.71
Average loans, net $ 531 6,062 3,636 16,217 26,446
Average deposits 1,428 105 13 77,895 79,441
Average attributed stockholders'
equity (b) $ 173 265 465 2,050 2,953
===================================================================================================================================
</TABLE>
(Continued)
15
<PAGE> 16
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 1998
------------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 21 77 49 195 342
Provision for loan losses 1 9 5 -- 15
Fee and other income -- -- -- 133 133
Noninterest expense 10 53 14 193 270
Income tax expense 4 3 11 52 70
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 6 12 19 83 120
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 16.96% 6.12 15.75 55.84 24.06
Average loans, net $ 2,571 15,477 8,850 -- 26,898
Average deposits -- -- -- 22,028 22,028
Average attributed stockholders'
equity (b) $ 150 784 470 599 2,003
===================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 348 103 821 342 191 1,805
Provision for loan losses 33 2 79 15 21 150
Fee and other income 381 448 406 133 163 1,531
Noninterest expense 352 382 734 270 1,071 2,809
Income tax expense 112 64 159 70 (277) 128
-----------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 232 103 255 120 (461) 249
After-tax merger-related and
restructuring charges -- -- -- -- 634 634
-----------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 232 103 255 120 173 883
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 19.09% 46.81 34.71 24.06 17.63 23.89
Average loans, net $39,846 3,609 26,446 26,898 34,237 131,036
Average deposits 13,622 15,937 79,441 22,028 6,013 137,041
Average attributed stockholders'
equity (b) $ 4,849 884 2,953 2,003 3,936 14,625
===================================================================================================================================
</TABLE>
(Continued)
16
<PAGE> 17
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 1998
------------------------------------------------------------------------------------------------
Investment Corporate
(In millions) Banking Banking International Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CAPITAL MARKETS
Income statement data
Net interest income $ 48 269 26 -- 343
Provision for loan losses 1 16 1 -- 18
Fee and other income 176 41 59 (20) 256
Noninterest expense 136 116 46 -- 298
Income tax expense 27 67 15 (20) 89
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 60 111 23 -- 194
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 18.55% 14.28 22.03 -- 16.12
Average loans, net $ 4,561 29,716 4,169 -- 38,446
Average deposits 3,163 4,717 3,560 -- 11,440
Average attributed stockholders'
equity (b) $ 1,310 3,146 443 -- 4,899
===================================================================================================================================
<CAPTION>
Retail
Brokerage & Wealth
Insurance & Trust Mutual CAP
(In millions) Services Services Funds Account Other Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CAPITAL MANAGEMENT
Income statement data
Net interest income $ 12 51 -- 35 -- 98
Provision for loan losses -- 1 -- -- -- 1
Fee and other income 188 150 96 17 (20) 431
Noninterest expense 169 131 54 25 -- 379
Income tax expense 12 27 16 10 (8) 57
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 19 42 26 17 (12) 92
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 29.48% 44.59 48.10 70.89 -- 43.35
Average loans, net $ -- 3,502 -- -- -- 3,502
Average deposits -- 4,872 -- 10,879 -- 15,751
Average attributed stockholders'
equity (b) $ 264 390 135 97 (26) 860
===================================================================================================================================
<CAPTION>
First Retail
Union Home Credit Branch
(In millions) Mortgage Equity Cards Products Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
CONSUMER
Income statement data
Net interest income $ 19 39 94 641 793
Provision for loan losses 1 2 53 25 81
Fee and other income 51 10 69 242 372
Noninterest expense 72 28 62 555 717
Income tax expense (1) 7 19 116 141
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ (2) 12 29 187 226
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity (5.55)% 22.92 26.37 36.69 32.17
Average loans, net $ 531 5,057 3,884 16,859 26,331
Average deposits 1,109 -- 15 77,719 78,843
Average attributed stockholders'
equity (b) $ 125 210 464 2,066 2,865
===================================================================================================================================
</TABLE>
(Continued)
17
<PAGE> 18
BUSINESS SEGMENTS (a)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Three Months Ended March 31, 1998
------------------------------------------------------------------------------------------------
Small Real Cash Mgt. &
Business Estate Deposit
(In millions) Banking Lending Banking Services Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
COMMERCIAL
Income statement data
Net interest income $ 20 66 53 196 335
Provision for loan losses 1 7 2 -- 10
Fee and other income -- -- -- 145 145
Noninterest expense 10 55 15 192 272
Income tax expense 4 -- 14 57 75
-----------------------------------------------------------------------------------------------------------------------------------
Net income $ 5 4 22 92 123
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 17.53% 2.95 17.40 60.14 25.84
Average loans, net $2,532 13,300 9,530 -- 25,362
Average deposits -- -- -- 22,191 22,191
Average attributed stockholders'
equity (b) $ 147 688 514 621 1,970
===================================================================================================================================
<CAPTION>
Capital Capital Treasury/
(In millions) Markets Mgt. Consumer Commercial Nonbank Total
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
CONSOLIDATED
Income statement data
Net interest income $ 343 98 793 335 262 1,831
Provision for loan losses 18 1 81 10 25 135
Fee and other income 256 431 372 145 145 1,349
Noninterest expense 298 379 717 272 172 1,838
Income tax expense 89 57 141 75 55 417
-----------------------------------------------------------------------------------------------------------------------------------
Net income after
merger-related and
restructuring charges 194 92 226 123 155 790
After-tax merger-related and
restructuring charges -- -- -- -- 19 19
-----------------------------------------------------------------------------------------------------------------------------------
Net income before
merger-related and
restructuring charges $ 194 92 226 123 174 809
-----------------------------------------------------------------------------------------------------------------------------------
Performance and other data
Return on average attributed
stockholders' equity 16.12% 43.35 32.17 25.84 14.06 21.01
Average loans, net $38,446 3,502 26,331 25,362 36,838 130,479
Average deposits 11,440 15,751 78,843 22,191 6,349 134,574
Average attributed stockholders'
equity (b) $ 4,899 860 2,865 1,970 5,018 15,612
===================================================================================================================================
</TABLE>
a) Business Segment information reflects the April 1998 pooling of interests
merger with CoreStates. The information also reflects the 1998 divestiture of
$3.4 billion of deposits, $2.2 billion of which related to the CoreStates
merger. Information related to the purchase accounting acquisitions of The Money
Store and EVEREN on June 30, 1998, and October 1, 1999, respectively, is
included from the date the acquisitions occurred. See the "Business Segments"
discussion in Management's Analysis of Operations for further information about
the methodology and assumptions used in presenting this information.
b) Average attributed stockholders' equity excludes merger-related,
restructuring and other charges. The return on average attributed stockholders'
equity for the Capital Management Mutual Funds unit is net of the amount
included in Other.
18
