<PAGE>
Page 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
ANNUAL REPORT
Pursuant to Section 15 (d) of the
Securities Exchange Act of 1934
For the Fiscal Year Ended December 31, 1993
NBD BANCORP, INC. EMPLOYEES' SAVINGS AND INVESTMENT PLAN
--------------------------------------------------------
(Full title of the Plan)
NBD BANCORP, INC. a Delaware Corporation
----------------------------------------
(Name of issuer of the securities held pursuant to the Plan)
611 Woodward Avenue, Detroit, Michigan 48226
---------------------------------------------
(Address of Plan and of principal executive offices of issuer)
Signatures
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, NBD
Bancorp, Inc. Employees' Savings and Investment Plan Committee has duly caused
this Annual Report to be signed by the undersigned thereunto duly authorized.
NBD Bancorp, Inc.
Employees' Savings and
Investment Plan (Investment Plus)
Dated: June 24, 1994 By /s/ Kenneth E. Kleiman
------------------------
Kenneth E. Kleiman
Plan Administrator
<PAGE>
Page 2
NBD BANCORP, INC. EMPLOYEES' SAVINGS AND INVESTMENT PLAN
FINANCIAL STATEMENTS - INDEX
PAGE
INDEPENDENT AUDITORS' REPORT............................................ 3
FINANCIAL STATEMENTS:
Statement of Net Assets Available for Benefits:
As Of December 31, 1993......................................... 4-5
As Of December 31, 1992......................................... 6-7
Statement of Changes in Net Assets Available for Benefits:
For The Year Ended December 31, 1993.............................. 8-9
For The Year Ended December 31, 1992.............................. 10-11
NOTES TO FINANCIAL STATEMENTS........................................... 12-17
SUPPLEMENTAL SCHEDULES:
Item 27a. - Schedule of Assets Held for Investment Purposes
as of December 31, 1993........................................... 18-24
Item 27d. - Schedule of Reportable Transactions for the
Year Ended December 31, 1993...................................... 25
<PAGE>
Page 3
INDEPENDENT AUDITORS' REPORT
Employees' Savings and Investment Plan Committee
NBD Bancorp, Inc.
Employees' Savings and Investment Plan
Detroit, Michigan
We have audited, by fund and in total, the accompanying statements of net
assets available for benefits of NBD Bancorp, Inc. Employees' Savings and
Investment Plan (the "Plan") as of December 31, 1993 and 1992, and the related
statements of changes in net assets available for benefits for the years then
ended. These financial statements are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, such financial statements present fairly, by fund and in
total, in all material respects, the net assets available for benefits of the
Plan as of December 31, 1993 and 1992, and the changes in net assets available
for benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying supplemental
schedules of (1) assets held for investment purposes as of December 31, 1993
and (2) transactions in excess of five percent of the current value of plan
assets for the year ended December 31, 1993 are presented for the purpose of
additional analysis and are not a required part of the basic financial
statements, but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. These schedules are the responsi-
bility of the Plan's management. Such schedules have been subjected to the
auditing procedures applied in our audit of the basic 1993 financial
statements and, in our opinion, are fairly stated in all material respects
when considered in relation to the basic financial statements taken as a whole.
/s/ Deloitte & Touche
June 17, 1994
<PAGE>
Page 4
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1993
<TABLE>
<CAPTION>
Total Money
of All NBD Equity Bond Market
Funds Fund Fund Fund Fund
------------- ------------- ------------- ------------- -------------
ASSETS:
<S> <C> <C> <C> <C> <C>
Cash............................................. $ 817,500 $ 606 $ 4,750 $ (2) $ 201
Investments, at market (Note D).................. 376,149,468 228,195,551 44,181,583 17,617,919 44,299,686
Interest and dividends receivable................ 606,524 2,615 88,768 288,232 123,179
------------- ------------- ------------ ------------- -------------
Net assets available for benefits............. $377,573,492 $228,198,772 $ 44,275,101 $ 17,906,149 $ 44,423,066
============= ============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 5
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS (concluded)
AS OF DECEMBER 31, 1993
<TABLE>
<CAPTION> Grand Rapids
Mortgage Subsidiary
Index Securities Investment Loan
Fund Fund Accounts Fund
------------- ------------- ------------- -------------
ASSETS:
<S> <C> <C> <C> <C>
Cash............................................. $ 1 $ 152 $ 1,857 $ 809,935
Investments, at market (Note D).................. 19,953,629 5,514,148 2,175,002 14,211,950
Interest and dividends receivable................ 17,778 73,599 9,648 2,705
------------- ------------- ------------- -------------
Net assets available for benefits............. $ 19,971,408 $ 5,587,899 $ 2,186,507 $ 15,024,590
============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 6
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1992
<TABLE>
<CAPTION>
Total Money
of All NBD Equity Bond Market
Funds Fund Fund Fund Fund
------------- ------------- ------------- ------------- -------------
ASSETS:
<S> <C> <C> <C> <C> <C>
Cash............................................. $ 300 $ - $ 3 $ 3 $ -
Investments, at market (Note D).................. 290,900,540 187,890,154 27,735,616 12,580,505 32,954,658
Interest and dividends receivable................ 239,426 1,224 68,599 27,621 97,004
Net receivable/(payable) other funds............. - (293,296) 176,815 (10,261) (145,277)
------------- ------------- ------------- ------------- -------------
Total assets.................................. 291,140,266 187,598,082 27,981,033 12,597,868 32,906,385
LIABILITIES:
Accounts payable................................. 134,986 - - - 130,921
------------- ------------- ------------- ------------- -------------
Total liabilities.............................. 134,986 - - - 130,921
------------- ------------- ------------- ------------- -------------
Net assets available for benefits................. $291,005,280 $187,598,082 $ 27,981,033 $ 12,597,868 $ 32,775,464
============= ============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 7
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS (concluded)
AS OF DECEMBER 31, 1992
<TABLE>
<CAPTION>
Grand Rapids
Mortgage Subsidiary
Index Securities Investment Loan
Fund Fund Accounts Fund
------------- ------------- ------------- -------------
ASSETS:
<S> <C> <C> <C> <C>
Cash............................................ $ - $ 2 $ 292 $ -
Investments, at market (Note D)................. 12,357,878 4,753,756 2,244,381 10,383,592
Interest and dividends receivable............... 52 30,515 14,411 -
Net receivable/(payable) other funds............ 274,332 (2,313) - -
------------- ------------- ------------- -------------
Total assets................................. 12,632,262 4,781,960 2,259,084 10,383,592
LIABILITIES:
Accounts payable................................ 4,065 - - -
------------- ------------- ------------- -------------
Total liabilities............................ 4,065 - - -
------------- ------------- ------------- -------------
Net assets available for benefits............... $ 12,628,197 $ 4,781,960 $ 2,259,084 $ 10,383,592
============= ============= ============= =============
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 8
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1993
</TABLE>
<TABLE>
<CAPTION>
Total Money
of All NBD Equity Bond Market
Funds Fund Fund Fund Fund
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Net assets available for benefits,
beginning of year............................. $291,005,280 $187,598,082 $ 27,981,033 $ 12,597,868 $ 32,775,464
Additions:
Contributions (Note A):
Employer................................... 11,894,319 7,820,792 1,431,923 474,305 980,159
Employee................................... 21,275,452 13,818,718 2,594,913 842,999 1,834,747
Interest and dividends........................ 13,035,101 7,439,012 944,878 1,964,187 1,263,983
Net transfer from/(to) other funds............ - (3,233,117) 832,348 (222,351) 1,226,912
Transfer from/(to) other plans (Note A)....... 71,361,766 45,458,084 5,682,598 2,419,165 12,319,760
Net appreciation/(depreciation) in fair value
of investments (Note D).................... (16,770,660) (22,656,524) 4,890,379 (154,645) -
------------- ------------- ------------- ------------- -------------
100,795,978 48,646,965 16,377,039 5,323,660 17,625,561
Deductions:
Distribution to participants.................. 14,227,766 8,046,275 82,971 15,379 5,977,959
------------- ------------- ------------- ------------- -------------
Net additions/(deductions)....................... 86,568,212 40,600,690 16,294,068 5,308,281 11,647,602
------------- ------------- ------------- ------------- -------------
Net assets available for benefits,
end of year................................... $377,573,492 $228,198,772 $ 44,275,101 $ 17,906,149 $ 44,423,066
============= ============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 9
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (concluded)
FOR THE YEAR ENDED DECEMBER 31, 1993
<TABLE>
<CAPTION>
Grand Rapids
Mortgage Subsidiary
Index Securities Investment Loan
Fund Fund Accounts Fund
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Net assets available for benefits,
beginning of year............................. $ 12,628,197 $ 4,781,960 $ 2,259,084 $ 10,383,592
Additions:
Contributions (Note A):
Employer................................... 904,467 282,673 - -
Employee................................... 1,683,672 500,403 - -
Interest and dividends........................ 339,579 444,247 125,284 513,931
Net transfer from/(to) other funds............ (606,856) (2,040,118) (83,885) 4,127,067
Transfer from/(to) other plans (Note A)....... 3,869,118 1,634,299 (21,258) -
Net appreciation/(depreciation) in fair value
of investments (Note D).................... 1,167,667 (14,916) (2,621) -
------------- ------------- ------------- -------------
7,357,647 806,588 17,520 4,640,998
Deductions:
Distribution to participants.................. 14,436 649 90,097 -
------------- ------------- ------------- -------------
Net additions/(deductions)....................... 7,343,211 805,939 (72,577) 4,640,998
------------- ------------- ------------- -------------
Net assets available for benefits,
end of year................................... $ 19,971,408 $ 5,587,899 $ 2,186,507 $ 15,024,590
============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 10
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1992
<TABLE>
<CAPTION>
Total Money
of All NBD Equity Bond Market
Funds Fund Fund Fund Fund
------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Net assets available for benefits,
beginning of year............................. $242,776,484 $151,491,626 $ 22,835,015 $ 11,756,114 $ 31,337,004
Additions:
Contributions (Note A):
Employer................................... 10,118,428 6,539,068 1,096,272 420,406 1,136,947
Employee................................... 17,730,236 11,331,613 1,912,201 720,460 2,160,851
Interest and dividends........................ 10,188,909 5,532,290 732,397 1,147,577 1,339,761
Net transfer from/(to) other funds............ - (477,709) (1,103,248) (1,276,325) 2,422,678
Net transfer from/(to) other plans (Note A)... 295,721 243,647 52,169 82,817 30,469
Net appreciation/(depreciation) in fair value
of investments (Note D).................... 20,602,118 17,731,280 2,470,133 (226,009) -
------------- ------------- ------------- ------------- -------------
58,935,412 40,900,189 5,159,924 868,926 7,090,706
Deductions:
Distribution to participants.................. 10,706,616 4,793,733 13,906 27,172 5,652,246
------------- ------------- ------------- ------------- -------------
Net additions/(deductions)....................... 48,228,796 36,106,456 5,146,018 841,754 1,438,460
------------- ------------- ------------- ------------- -------------
Net assets available for benefits,
end of year................................... $291,005,280 $187,598,082 $ 27,981,033 $ 12,597,868 $ 32,775,464
============= ============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 11
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS (concluded)
FOR THE YEAR ENDED DECEMBER 31, 1992
<TABLE>
<CAPTION>
Grand Rapids
Mortgage Subsidiary
Index Securities Investment Loan
Fund Fund Accounts Fund
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Net assets available for benefits,
beginning of year............................. $ 8,352,396 $ 7,711,811 $ 2,627,919 $ 6,664,599
Additions:
Contributions (Note A):
Employer................................... 714,522 211,213 - -
Employee................................... 1,257,694 347,417 - -
Interest and dividends........................ 313,842 508,610 155,266 459,166
Net transfer from/(to) other funds............ 1,228,655 (3,942,723) (111,155) 3,259,827
Net transfer from/(to) other plans (Note A)... 96,731 6,467 (216,579) -
Net appreciation/(depreciation) in fair value
of investments (Note D).................... 668,491 (33,916) (7,861) -
------------- ------------- ------------- -------------
4,279,935 (2,902,932) (180,329) 3,718,993
Deductions:
Distribution to participants.................. 4,134 26,919 188,506 -
------------- ------------- ------------- -------------
Net additions/(deductions)....................... 4,275,801 (2,929,851) (368,835) 3,718,993
------------- ------------- ------------- -------------
Net assets available for benefits,
end of year................................... $ 12,628,197 $ 4,781,960 $ 2,259,084 $ 10,383,592
============= ============= ============= =============
</TABLE>
The accompanying notes are an integral part of the financial statements.
<PAGE>
Page 12
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
--------------------------------------
YEARS ENDED DECEMBER 31, 1993 AND 1992
NOTE A - The Plan
General
-------
NBD Bancorp, Inc. (the "Corporation") adopted its Employees' Savings
and Investment Plan ("Investment Plus" or the "Plan") effective
January 1, 1988. The Plan is the amended, renamed and restated
continuation of the NBD Bancorp, Inc. Employees' Profit-Sharing Plan
(the "Former Plan") that had been adopted by the Corporation in 1981.
Each employee electing to participate in the Plan makes contributions
by means of salary deductions. Participant contributions are limited
to 10 percent of participant's pay as defined in the Plan, or such
maximum amounts as may be approved by the Internal Revenue Service.
The Corporation provides matching contributions of one dollar for
every dollar that participants contribute up to 2 percent of their pay
and 50 cents for each additional dollar that participants contribute
up to another 4 percent of their pay. The participant has a zero
vested percentage in the Corporation's contribution until performing
four years and five months of continuous service, subject to break in
service rules, at which time the participant becomes fully vested.
The participant is at all times fully vested with regard to
participant contributions.
During 1993, five affiliate plans were merged into the Plan and
physically transferred their assets. Effective January 1, 1993, the
FNW Bancorp, Inc. Employee Stock Ownership Plan and the Gainer Bank
Profit Sharing Plan merged into the Plan. Effective July 1, 1993, the
Summcorp 401(K) Profit Sharing Plan and the Summcorp Employee Stock
Ownership Plan merged into the Plan. Effective October 1, 1993, the
NBD Bancorp, Inc. Employees' Stock Ownership Plan merged into the
Plan.
At December 31, 1993, there were 14,095 participants in the Plan.
Every employee is eligible to participate in the Plan starting in the
calendar year after the date of hire provided that the employee is
salaried or is paid hourly and works more than an average of 17 1/2
hours per week. Persons hired and working outside of the United
States are not eligible to participate in the Plan.
NBD Bank, N.A. - Trust Division and First National Bank of Boston
serve as Trustee and supplemental Trustee, respectively. First
National Bank of Boston makes all purchases and sales on the open
market of NBD Bancorp, Inc. common stock held under the Plan.
The Plan is administered by a Committee of not less than three members
appointed by the Chairman of the Board of Directors of the
Corporation. Administrative expenses are paid by the Corporation.
In the event of Plan termination, participants or their beneficiaries
will receive distributions as determined by the Committee acting in
accordance with the terms of the Plan, subject to federal regulations
under the Employee Retirement Income Security Act of 1974.
Investment Programs
--------------------
The participants have an option as to the manner in which their
contributions are invested. A description of each investment option
follows:
<PAGE>
Page 13
NOTE A - The Plan (cont'd.)
Investment Programs (cont'd.)
-------------------
The NBD Fund is invested in NBD Bancorp, Inc. stock
or convertible securities, or some combination thereof.
Each participant directs the trustee how to vote shares
(other than fractions of shares) of NBD Bancorp, Inc. stock
represented by his or her account in the NBD Fund. The
trustee will not exercise voting rights with respect to
those shares for which a direction has not been received by
the required deadline.
The Equity Fund is invested substantially all in common
stock (except NBD Bancorp, Inc. securities) and part or all
may be invested in other properties as the trustee
determines in its discretion.
The Bond Fund is invested solely in fixed income securities
(except NBD Bancorp, Inc. securities) as the trustee
determines in its discretion .
The Money Market Fund is invested in a diversified
portfolio of money market instruments including trust
demand notes, U.S. government securities, high grade
commercial paper, instruments of banks (such as
certificates of deposit and bankers' acceptances) and
repurchase agreements (except securities issued by NBD
Bancorp, Inc.) as the trustee determines in its discretion.
The fund is invested to obtain as high a level of current
income as is consistent with prudent investment management
and the preservation of capital and liquidity.
The Index Fund is invested in common stocks (except NBD
Bancorp, Inc. stock) that are components of the Standard &
Poors 500 Stock Price Index as the trustee shall determine
in its discretion (subject to federal law). The emphasis
of this fund shall be on investment in equity securities
that, taken together, approximate the performance of the
Stock Price Index after adjustment for trading costs.
The Mortgage Securities Fund is invested in a diversified
portfolio of mortgage-backed pass through securities and
other instruments issued by the Government National
Mortgage Association, as well as U.S. government
securities.
As of December 31, 1993, the approximate number of trust
participants in each of the investment programs was as follows:
Fund Participants
--------------------------------------
NBD Fund................... 13,104
Equity Fund................ 5,349
Bond Fund.................. 3,263
Money Market Fund.......... 5,662
Index Fund................. 3,091
Mortgage Securities Fund... 1,733
In each of the investment funds, the trustee may hold such portion
of each fund in highly liquid short-term investments, or cash, as
it may determine in its discretion.
<PAGE>
Page 14
NOTE A - The Plan (cont'd.)
Investment Programs (cont'd.)
-------------------
The Plan participates in collective investment funds maintained by
NBD Bank, N.A.. The percentage of ownership of each fund held by
the Plan as of December 31, 1993 is as follows:
%
--------
NBD Banks Investment Funds for Employee Benefit Plans:
Money Market Fund.................................. 5.05
In 1988, NBD Bank, N.A. as Trustee appointed NBD Grand Rapids, N.A.
(subsequently merged into NBD Bank, N.A.) to serve as investment
manager and custodian of certain assets that were merged into the
Plan from the former Profit Sharing Program of Union Bancorp, Inc.
(The "Former Program"). As of December 31, 1993 and 1992 those
assets were held in individual subsidiary investment accounts
established under the Former Program. The Grand Rapids Subsidiary
Investment Accounts are invested in collective funds, registered
investment companies, U.S. government securities, NBD Bancorp, Inc.
stock, and other common stock.
Participant Loans
------------------
Provision is made in the Plan to permit participants, with
approval of the committee, to borrow a portion of their deferred
vested benefits. These loans are subject to the following
conditions:
-the loan amount does not exceed the lesser of a) 50% of the
participant's current fully vested interest in the fund, or
b) $50,000.
-each loan is secured by the participant's portion of the
current fund balance. (No distributions are made prior to
complete repayment of the loan and interest).
-the period of repayment does not exceed 5 years, 10 years if
the loan is for the purchase of a primary residence.
-each loan is evidenced by a signed promissory note.
As of December 31, 1993, there were $14,051,759 in loans
outstanding. These amounts are transferred to a separate account.
For purposes of financial statement disclosure, the loans are
disclosed in a separate fund (except for Grand Rapids Subsidiary
Investment Accounts).
Transfer of Funds
-----------------
Each trust participant is entitled four times during each year to
transfer a specified portion or all of his or her interest in any
of the investment funds to any of the other funds. A notice of
five business days is required and the transfer is effective on
the last day of the calendar quarter.
<PAGE>
Page 15
NOTE A - The Plan (cont'd.)
Participant Withdrawals
-----------------------
During a participant's employment with a participating employer or
a non-participating affiliate, distributions from the
participant's interest in the trust fund may be authorized by the
Committee upon a finding of need for financial assistance from the
trust fund to meet cases of immediate and heavy financial
hardship, to provide funds for the purchase of the participant's
primary residence, to pay college tuition costs for the
participant or members of his or her immediate family if he or she
is unable to meet them, to pay for medical expenses, to pay for
funeral expenses, or to prevent eviction from the participant's
principal residence or foreclosure on his or her residential
mortgage.
The funds that represent a hardship distribution must conform to
conditions required by the Internal Revenue Service. A
participant can receive a distribution of funds only in such
amount as does not exceed the total amount of the participant's
own authorized payroll deduction contributions as then appearing
on the records of the Corporation. A participant who receives a
hardship distribution shall have his or her contributions to the
trust fund suspended for 12 months following the distribution as
required by law.
As of December 31, 1993, and 1992, net assets available for benefits
included benefits of $3,780,115 and $2,472,983, respectively, due to
participants who have applied to withdraw from the Plan, but whose
applications have not been processed and approved for payment.
Participant Forfeitures
-----------------------
Participants terminating employment before their employer matching
contributions are vested will forfeit such amounts and any
earnings thereon. These amounts are transferred into a forfeiture
account and are used either to reduce future employer
contributions or reinstate the participant's account if a
participant is rehired by the Corporation.
NOTE B - Significant Accounting Policies
Basis of Accounting
-------------------
The financial statements of the Plan are maintained on the accrual
basis.
Valuation of Investment
-----------------------
The investments of the Plan are stated at market values.
Accordingly, net unrealized appreciation or depreciation of
investments is reflected in the Statement of Changes in Net Assets
Available for Benefits. Market values represent closing prices
for those securities traded on national stock exchanges, bid
quotation for those securities traded over-the-counter and cost
(which approximates market) for trust demand notes.
<PAGE>
Page 16
NOTE B - Significant Accounting Policies (cont'd.)
Investment Income
-----------------
Cash dividends on investment securities are recognized as of the
ex-dividend date.
Net Appreciation or Depreciation in Fair Value of Investments
-------------------------------------------------------------
Realized and unrealized gains and losses are recognized on the
basis of fair value to adjusted cost (i.e. fair value at the
beginning of the year, or cost if the asset was acquired since
that date). The NBD Fund recognizes gains and losses on NBD
Bancorp, Inc. stock distributed to participants in settlement of
their account equal to the difference between adjusted cost, as
determined above, and fair value of the shares distributed.
Reclassification
----------------
Prior year financial statements have been reclassified to conform
with the current financial statement presentation.
NOTE C - Federal Income and Estate Taxes Applicable to the Plan
The Internal Revenue Service has previously ruled that the Former
Plan (profit sharing) was a qualified plan under Section 401 of
the 1954 Internal Revenue Code and that the Trust was a tax-exempt
trust. The amended plan is being submitted to the Internal
Revenue Service for a determination that the Plan as amended
continues to qualify as a tax exempt employee benefit plan.
Management of the Corporation expects a favorable determination.
<PAGE>
Page 17
NOTE D - Investments
The following tabulation presents investments at market for the plan years
ended December 31, 1993 and 1992:
1993 1992
------------ ------------
Marketable Securities:
Common Stock - NBD Bancorp, Inc........... $227,169,482 $187,341,299
Other Common Stock........................ 39,657,932 24,237,413
Mortgage Backed Securities................ 882,091 4,821,183
Bonds, Notes, and Other................... 16,590,661 2,631,866
Collective Funds:
NBD Bank's Investment Funds for Employee
Benefit Plans:
Money Market Fund...................... 46,070,953 38,090,520
Equity Index Fund...................... - 12,289,212
Mortgage Backed Securities Fund........ - 6,619,526
Market Plus Bond Fund.................. - 3,452,115
Short Bond Fund........................ 315,278 301,449
NBD Grand Rapids Pooled Equity Fund....... 124,814 102,020
Registered Investment Companies:
Woodward Intermediate Bond Fund........... 729,226 563,619
Woodward Intrinsic Value Fund............. 10,860 -
Woodward Equity Index Fund................ 2,144 -
Repurchase Agreement (U.S. Government
Securities, 3.15%, maturing 01-03-94)..... 30,544,268 -
Loans to Participants........................ 14,051,759 10,450,318
------------ ------------
Total Investments............................ $376,149,468 $290,900,540
============ ============
The following tabulation presents the net appreciation/(depreciation) in fair
value of investments for the plan years ended December 31, 1993 and 1992:
1993 1992
------------ ------------
Marketable Securities:
Common Stock - NBD Bancorp, Inc........... $(22,665,013) $17,739,770
Other Common Stock....................... 4,932,104 2,451,171
Mortgage Backed Securities................ (226,622) (75,009)
Bonds, Notes, and Other................... 296,293 88,667
Collective Funds:
NBD Bank's Investment Funds for Employee
Benefit Plans:
Equity Index Fund...................... (127,115) 668,491
Mortgage Backed Securities Fund........ (420,743) (298,843)
Market Plus Bond Fund.................. 183,286 34,025
Short Bond Fund........................ (6,274) (6,147)
Stable Asset Fund...................... - (34)
NBD Grand Rapids Pooled Equity Fund....... (2,186) 6,227
NBD Grand Rapids Pooled Bond Fund......... - 213
Registered Investment Companies:
Woodward Intermediate Bond Fund........... 14,287 (7,820)
Woodward Growth/Value Fund................ - 1,407
Woodward Intrinsic Value Fund............. 681 -
Woodward Equity Index Fund................ 1,250,642 -
------------ ------------
Net (Depreciation)/Appreciation.............. $(16,770,660) $ 20,602,118
============ ============
<PAGE>
Page 18
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
MARKETABLE SECURITIES
-------------------------------------------------------
Common Stocks - NBD Bancorp, Inc.
-------------------------------------------------------
(S) <C> <C> <C>
7,635,949 * NBD Bancorp, Inc....................................... $146,568,767 $227,169,482
============ ============
Other Common Stocks
-------------------------------------------------------
3,450 3Com Corp.............................................. $ 126,505 $ 162,150
9,300 AT&T Company........................................... 438,696 488,250
17,400 Abbott Laboratories, Inc............................... 459,487 515,475
600 Alexander & Baldwin, Inc............................... 14,348 16,050
14,240 Allen Group, Inc....................................... 222,966 258,100
400 American Brands, Inc................................... 14,149 13,300
7,000 American Express Co.................................... 176,914 216,125
200 American Home Products Corp............................ 11,707 12,950
3,400 American International Group........................... 197,857 298,350
300 Amoco Corp............................................. 15,832 15,863
600 Angelica Corporation.................................. 16,334 16,950
13,500 Anheuser Busch Co...................................... 638,396 663,187
9,100 Apache Corporation..................................... 198,099 212,713
11,450 Arctco, Inc............................................ 227,260 274,800
200 Atlantic Richfield Co.................................. 22,926 21,050
7,000 Auto Desk, Inc......................................... 308,047 315,000
23,400 Avery Dennison Corp.................................... 609,519 687,375
14,750 Baker J., Inc.......................................... 284,978 258,125
400 Bancorp Hawaii, Inc.................................... 17,157 16,400
6,500 Banta Corporation...................................... 169,840 235,625
600 Baxter Int'l., Inc..................................... 12,778 14,625
500 Beckman Instruments, Inc............................... 9,984 13,688
300 Black Hills Corp....................................... 5,551 6,825
500 Boatmen's Bancshares, Inc.............................. 11,907 14,938
16,300 Boeing Company......................................... 683,448 704,975
21,900 Borden Inc............................................. 633,560 372,300
11,000 Bristol Meyers Squibb Co............................... 798,603 640,750
100 British Petroleum Plc American Depositary.............. 6,413 6,400
23,700 Browning Ferris Ind. Inc............................... 552,071 610,275
9,400 Burlington Res., Inc................................... 387,111 398,325
700 Capital Cities ABC, Inc................................ 340,954 433,650
2,600 Caterpillar, Inc....................................... 134,514 231,400
1,300 Cato Corp.............................................. 25,413 26,000
15,200 Century Telephone Enterprises, Inc..................... 367,460 391,400
13,000 Champion Int'l Corp.................................... 361,115 433,875
5,000 Chubb Corp............................................. 401,546 389,375
2,300 Cincinnati Financial Corp.............................. 110,992 123,050
*Represents party in interest to the Plan.
</TABLE>
<PAGE>
Page 19
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
Other Common Stocks (cont'd.)
-------------------------------------------------------
<S> <C> <C> <C>
4,450 Cirrus Logic Inc....................................... $ 97,440 $ 164,650
12,100 Citizens Corp.......................................... 269,220 237,462
500 Cleveland Cliffs, Inc.................................. 16,682 18,687
74 Colgate Palmolive Company.............................. 1,198 4,616
13,600 Colombia Healthcare Corp............................... 238,877 450,500
6,125 Commerce Bancshares, Inc............................... 162,950 174,563
2,500 Computer Sciences Corp................................. 201,693 248,750
20,600 Conagra, Inc........................................... 507,391 543,325
5,000 Crane Company.......................................... 128,226 123,750
500 Cray Research, Inc..................................... 15,428 12,813
7,400 Crompton & Knowles..................................... 162,242 162,800
6,750 Dean Foods Company..................................... 192,794 220,218
14,200 Deluxe Corp............................................ 499,633 514,750
1,200 Diebold, Inc........................................... 60,591 72,300
400 Digital Equipment Corp................................. 18,191 13,700
6,200 Dover Corporation...................................... 254,173 376,650
13,300 Dow Chemical Company................................... 714,752 754,775
3,700 Dun & Bradstreet Corp.................................. 183,879 228,013
7,250 Durakon Ind., Inc...................................... 111,136 125,968
28,600 EG & G, Inc............................................ 582,574 525,525
8,862 Edwards AG, Inc........................................ 221,836 254,783
26,600 Ethyl Corporation...................................... 522,654 465,500
12,500 Excel Industries, Inc.................................. 213,672 229,687
220 Exxon Corporation...................................... 3,497 13,888
9,500 FHP Int'l. Corp........................................ 243,346 256,500
7,100 Federal Express Corp................................... 308,455 503,213
8,100 Ferro Corporation...................................... 226,055 259,200
1,300 Figgie Int'l, Inc...................................... 20,429 17,713
8,400 Fingerhut Cos., Inc.................................... 190,534 236,250
18,100 First Colony Corp...................................... 474,146 459,288
4,300 First Virginia Banks, Inc.............................. 130,837 140,825
23,900 Fleet Financial Group.................................. 688,243 797,663
600 Fleming Companies, Inc................................. 19,485 14,850
112 Ford Motor Company..................................... 1,322 7,224
412 Foremost Corporation of America........................ 12,122 14,214
4,800 Fourth Financial Corp.................................. 137,251 140,400
200 Fund American Enterprise Hldgs., Inc................... 13,717 15,700
8,100 GFC Financial Corp..................................... 208,455 234,900
306 GTE Corp............................................... 6,018 10,710
11,000 Gannett Company, Inc................................... 509,361 629,750
4,750 General Electric Company............................... 365,661 498,157
7,000 General Motors Corp.................................... 257,855 384,125
24,700 General Motors Corp., Class E.......................... 727,279 722,475
700 Gibson Greetings, Inc.................................. 15,747 14,787
</TABLE>
<PAGE>
Page 20
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
Other Common Stocks (cont'd.)
-------------------------------------------------------
<S> <C> <C> <C>
900 Glatfelter P H Co...................................... $ 15,956 $ 16,762
1,200 Handleman Company...................................... 15,008 15,900
1,800 Harley Davidson, Inc................................... 50,750 79,425
600 Harnischfegen Ind., Inc................................ 11,976 13,500
9,300 Health Care & Retirement Corp.......................... 178,686 206,925
8,500 Health Mgt Assoc., Inc................................. 178,215 248,625
4,400 Heilig-Meyers Co....................................... 89,472 171,600
5,800 Hewlett Packard Company................................ 399,510 458,200
700 Home Ben Corp.......................................... 17,871 16,100
4,650 Houghton Mifflin Company............................... 189,233 226,106
2,110 Hubbell, Inc........................................... 108,032 114,204
4,200 Index Corp............................................. 147,212 150,150
5,400 Integra Financial Corp................................. 220,854 232,200
200 International Business Machines........................ 12,734 11,300
22,000 Interpublic Group of Companies, Inc.................... 582,095 704,000
5,800 John Alden Financial Corp.............................. 175,889 208,800
12,000 Juno Lighting, Inc..................................... 190,752 249,000
13,400 K Mart Corporation..................................... 278,655 288,100
13,000 Kimberly Clark Corp.................................... 635,401 674,375
2,000 Kohls Corp............................................. 68,714 100,500
3,700 Lancaster Colony Corp.................................. 115,458 170,200
3,600 Landauer, Inc.......................................... 62,486 54,450
3,800 Leggett & Platt, Inc................................... 112,417 190,000
200 Lilly Eli & Co......................................... 9,818 11,875
200 Loews Corporation...................................... 20,493 18,600
500 Longs Drug Stores, Inc................................. 17,271 16,437
2,000 Lotus Dev. Corp........................................ 79,065 110,000
2,400 Lydall, Inc............................................ 47,274 51,300
20,200 MCI Communications Corp................................ 385,596 570,650
11,300 Mac Frugals Bargains Closeouts, Inc.................... 194,814 221,762
16,800 Masco Corporation...................................... 397,735 621,600
8,100 Material Sciences Corp................................. 180,388 185,288
4,300 Maxim Integrated Products, Inc......................... 141,291 205,863
19,200 Melville Corporation................................... 893,171 780,000
350 Mercantile Stores, Inc................................. 12,620 12,687
18,100 Merck & Company, Inc................................... 708,240 622,187
8,100 Minerals Technologies, Inc............................. 184,883 234,900
4,900 Mobil Corporation...................................... 327,610 387,713
3,375 Molex, Inc............................................. 91,325 113,906
300 NCH Corp............................................... 16,843 18,300
600 National Services Inds., Inc........................... 14,820 15,375
3,700 Newell Co.............................................. 137,290 149,387
700 Old Republic Int'l., Corp.............................. 13,296 15,838
</TABLE>
<PAGE>
Page 21
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
Other Common Stocks (cont'd.)
-------------------------------------------------------
<S> <C> <C> <C>
5,400 Omnicom Group, Inc..................................... $ 208,333 $ 249,750
5,800 Oregon Steel Mills, Inc................................ 148,843 145,725
7,900 Owens & Minor, Inc..................................... 128,484 181,700
3,300 PHH Corp............................................... 114,875 136,950
13,000 PNC Bank Corp.......................................... 307,676 377,000
100 Pacific Telesis Group.................................. 4,249 5,425
4,900 Perkin Elmer Corporation............................... 168,754 188,650
7,100 Phillips Van Heusen Corp............................... 224,959 266,250
500 Precision Castparts Corp............................... 10,925 14,500
10,800 Purolator Products..................................... 175,557 191,700
10,600 RPM, Inc............................................... 167,455 184,175
300 Raychem Corporation.................................... 9,569 11,250
28,300 Rite Aid Corporation................................... 575,524 449,262
400 Rockwell International Corp............................ 10,097 14,850
5,800 Royal Dutch Petroleum Co............................... 491,340 605,375
20,500 Russel Corp............................................ 606,703 579,125
26,500 Ryder System, Inc...................................... 511,969 702,250
300 Salomon, Inc........................................... 11,525 14,288
4,800 Scherer R. P. Corp..................................... 159,706 181,200
7,800 Schering Plough Corp................................... 471,986 534,300
6,500 Schlumberger Limited................................... 375,804 384,313
5,500 Schulman A., Inc....................................... 163,486 185,625
300 Shell Transport & Trading.............................. 15,491 19,425
800 Sierra Pacific Resources............................... 16,584 16,400
200 Sonat, Inc............................................. 2,400 5,775
12,400 Southwestern Energy Co................................. 177,242 223,200
4,900 Stanhome, Inc.......................................... 159,810 165,987
12,000 Stanley Works.......................................... 464,759 534,000
1,900 Stewart & Stevenson Services, Inc...................... 72,285 97,375
8,600 Sunrise Medical, Inc................................... 212,238 258,000
3,720 Superior Industries Int'l.............................. 83,715 159,030
4,400 Talbots, Inc........................................... 105,352 116,600
5,950 Teleflex............................................... 195,359 220,150
100 Texas Utilities Company................................ 3,225 4,325
700 Thiokol Corp........................................... 12,602 18,550
2,600 Thomas and Betts Corp.................................. 151,032 152,100
4,450 Transatlantic Holdings, Inc............................ 211,710 233,069
12,500 Trimas Corporation..................................... 217,799 304,687
6,600 Universal Foods Corp................................... 208,004 212,025
400 UpJohn Co.............................................. 12,104 11,600
10,400 Vicorp Restaurants, Inc................................ 225,588 191,100
</TABLE>
<PAGE>
Page 22
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
Other Common Stocks (cont'd.)
-------------------------------------------------------
<S> <C> <C> <C>
3,000 Washington Post Co..................................... $ 679,386 $ 764,250
5,500 Watts Inds., Inc....................................... 261,675 272,250
3,200 West Co., Inc.......................................... 57,561 78,400
100 White River Corp....................................... 1 3,450
7,000 Witco Corp............................................. 182,356 223,125
------------- ------------
Total Other Common Stocks........................ $ 35,458,800 $ 39,657,932
============= =============
Mortgage Backed Securities
-------------------------------------------------------
994,500 F.H.L.M.C., 4.775%, Interest Stripped, due 11-15-08.... $ 89,350 $ 91,991
3,014,774 F.H.L.M.C., 4.525%, Interest Stripped, due 10-15-13.... 270,016 260,024
200,000 F.H.L.M.C., 9.6%, due 5-15-20.......................... 212,969 211,016
4,262 F.N.M.A., Class 93-C, 9.00%, due 5-25-16............... 4,483 4,261
2,684 F.N.M.A., Class K, 9.00%, due 12-25-20................. 96,268 31,935
139,810 F.N.M.A., Class SG, 13.738%, due 8-25-23............... 139,111 141,558
140,647 F.N.M.A., Class SE, 13.125%, due 10-25-23.............. 137,659 137,131
Collateralized Mort. Secs. Corp., C.M.O.,
4,088 7.00%, due 6-20-06................................ 3,937 4,175
------------- -------------
Total Mortgage Backed Securities....................$ 953,793 $ 882,091
============= =============
Bonds, Notes, and Other
-------------------------------------------------------
30,000 U.S. Treasury Note, 8.00%, due 7-15-94................. $ 28,988 $ 30,722
25,000 U.S. Treasury Note, 8.625%, due 8-15-94................ 25,078 25,777
25,000 U.S. Treasury Bond, 8.75%, due 8-15-94................. 25,227 25,796
25,000 U.S. Treasury Note. 8.25%, due 11-15-94................ 24,906 25,969
20,000 U.S. Treasury Note, 11.25%, due 2-15-95................ 19,915 21,619
25,000 U.S. Treasury Note, 8.50%, due 5-15-95................. 25,086 26,500
25,000 U.S. Treasury Note, 8.875%, due 7-15-95................ 25,000 26,773
50,000 U.S. Treasury Note, 8.50%, due 11-15-95................ 50,172 53,805
2,149,000 U.S. Treasury Note, 7.375%, due 5-15-96................ 2,291,518 2,292,038
100,000 U.S. Treasury Note, 7.875%, due 7-15-96................ 107,453 108,172
5,000,000 U.S. Treasury Note, 8.625%, due 8-15-97................ 5,633,594 5,624,200
200,000 U.S. Treasury Note, 8.750%, due 10-15-97............... 228,438 226,156
2,000,000 U.S. Treasury Note, 7.875%, due 1-15-98................ 2,213,359 2,208,120
147,000 U.S. Treasury Note, 7.875%, due 1-15-98................ 163,675 162,297
280,000 U.S. Treasury Note, 8.500%, due 2-15-00................ 326,047 324,887
1,000,000 U.S. Treasury Note, 7.750%, due 2-15-01................ 1,127,500 1,127,030
1,075,000 U.S. Treasury Bond, 10.375%, due 11-15-12.............. 1,481,379 1,484,339
600,000 U.S. Treasury Bond, 7.500%, due 11-15-16............... 668,625 666,096
</TABLE>
<PAGE>
Page 23
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
Bond, Notes and Other (cont'd.)
-------------------------------------------------------
<S> <C> <C> <C>
100,000 U.S. Treasury Securities, Stripped, due 2-15-99........ $ 72,822 $ 76,326
53,000 U.S. Treasury Securities, Stripped, due 2-15-00........ 35,981 37,997
48,000 U.S. Treasury Securities, Stripped, due 2-15-02........ 28,060 30,012
345,000 U.S. Treasury Securities, Stripped, due 8-15-12........ 96,111 97,490
209,000 U.S. Treasury Securities, Stripped, due 11-15-12....... 57,113 57,968
561,000 U.S. Treasury Securities, Stripped, due 11-15-13....... 147,885 144,121
1,789,000 U.S. Treasury Securities, Stripped, due 2-15-14........ 462,796 451,293
756,000 U.S. Treasury Securities, Stripped, due 5-15-14........ 196,915 187,314
565,000 U.S. Treasury Securities, Stripped, due 8-15-16........ 86,355 119,452
1,026,000 U.S. Treasury Securities, Stripped, due 5-15-18........ 195,156 193,729
1,014,000 U.S. Treasury Securities, Stripped, due 8-15-19........ 168,922 176,406
25,000 F.H.L.B. Bond, 8.60%, due 6-27-94...................... 25,594 25,609
Associates Corp. of North America, 9.125%,
85,000 due 4-01-94........................................ 87,903 98,350
25,000 Metro Banc, CD, 10.10%, due 4-11-94.................... 25,000 25,000
General Electric Capital Corp., 8.625%,
60,000 due 6-15-96........................................ 61,209 71,533
Nippon Telegraph & Telephone Corp., 9.50%
80,000 due 7-27-98......................................... 90,695 92,343
Northwest Natural Gas Company, Convertible
25,000 Debenture, 7.25%, due 3-01-12...................... 25,000 27,750
69,783 Rural Housing Trust, 7.33%, due 4-01-26................ 62,990 72,769
Boeing Company Debenture, 7.95%,
110,000 due 8-15-12...................................... 111,667 120,598
12,000 Price Co. Convert. Debenture, 6.75%, due 3-01-01....... 11,500 12,480
Champion Int'l Corp. Sub. Convert. Debenture,
11,000 6.50%, due 4-15-11............................... 11,022 11,825
------------- -------------
Total Bonds, Notes, and Other...................... $ 16,526,656 $ 16,590,661
============= =============
COLLECTIVE FUNDS
-------------------------------------------------------
NBD Banks Investment Funds for Employee
Benefit Plans:
46,070,953 * Money Market Fund................................ $ 46,070,953 $ 46,070,953
854 * Short Bond Fund.................................. 327,044 315,278
1,641 * NBD Grand Rapids Pooled Equity Fund.................... 109,525 124,814
------------- -------------
Total Collective Funds............................. $ 46,507,522 $ 46,511,045
============= =============
* Represents party in interest to the Plan.
</TABLE>
<PAGE>
Page 24
<TABLE>
<CAPTION>
NBD BANCORP, INC.
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27a. - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1993
Par Value
or Number Current
of Shares Description Cost Value
- - ----------- ------------------------------------------------------- ------------- -------------
REGISTERED INVESTMENT COMPANIES
-------------------------------------------------------
<S> <C> <C> <C>
70,071 * Woodward Intermediate Bond Fund........................ $ 732,126 $ 729,226
984 * Woodward Intrinsic Value Fund.......................... 10,727 10,860
192 * Woodward Equity Index Fund............................. 2,144 2,144
------------- -------------
Total Registered Investment Companies.............. $ 744,997 $ 742,230
============= =============
REPURCHASE AGREEMENT
-------------------------------------------------------
30,544,268 Repurchase Agreement, U.S. Government Securiies,
3.15%, Greenwich Capital Markets, Inc.,
maturing 01-03-94................................... $ 30,544,268 $ 30,544,268
============= =============
LOANS
-------------------------------------------------------
* Loans to Participants-interest rates ranging
from 5.00% to 12.00% during the plan year........... $ 14,051,759 $ 14,051,759
============= =============
Total Investments.................................. $291,356,562 $376,149,468
============= =============
* Represents party in interest to the Plan.
Employer Identification Number:........................ 38-1984850
Plan Number :........................ 001
</TABLE>
<PAGE>
Page 25
<TABLE>
<CAPTION>
EMPLOYEES' SAVINGS AND INVESTMENT PLAN
ITEM 27d. - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1993
The following series transactions were in excess of 5% of the fair value of Plan assets at the beginning
of the Plan year.
Purchases Sales
------------- -----------------------------------------
Description Purchase Sales Original Net Gain
of Assets Price Price Cost (Loss)
- - ----------------------------------------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
NBD Banks Investment Fund for
Employee Benefit Plans - Money Market Fund... $133,298,286 $125,634,685 $125,634,685 $ -
Woodward Equity Index Fund..................... 19,560,449 20,808,947 19,558,305 1,250,642
NBD Bancorp, Inc. Common Stock................. 35,999,745 - - -
Repurchase Agreements, U.S. Government
Securities, Greenwich Capital Markets, Inc.,
2.95% and 3.15%, maturing 12-31-93 and
01-03-94.................................... 32,394,268 - - -
Department of labor regulations define reportable transactions as those that exceed 5% of
Plan assets at the beginning of the year.
The amounts shown above represent aggregate transactions for the assets listed and no
expenses were incurred by the Plan related to the above listed transactions.
Employer Identification Number:........................ 38-1984850
Plan Number :........................ 001
</TABLE>
Exhibit (23)
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference of our report dated June 17,
1994, appearing in this Annual Report on Form 11-K of NBD Bancorp, Inc.
Employees' Savings and Investment Plan for the year ended December 31, 1993,
in the following Registration Statements:
REGISTRATION
FORM STATEMENT NO. DESCRIPTION
- - ---- ------------------ ---------------------------------------------
S-8 33-21036 NBD Bancorp, Inc. Performance Incentive Plan
S-8 33-17494 NBD Bancorp, Inc. Employees' Savings and
(Post-Effective Investment Plan (Investment Plus)
Amendment No. 1)
S-8 33-48773 FNW Stock Incentive Plan
S-8 33-46906 NBD Indiana, Inc. Employee Stock Option Plan
(Post-Effective
Amendment No. 1
to Form S-4)
S-8 33-50300 NBD Indiana, Inc. Incentive Stock Option Plan
(Post-Effective
Amendment No. 1
to Form S-4)
S-8 33-53930 NBD Indiana, Inc. Employee 401(K) and Stock
Ownership Plan
S-8 33-53928 NBD Indiana, Inc. 1990 Stock Incentive Plan
S-3 33-60788 NBD Bancorp, Inc. 7-1/2% Preferred Purchase Units
Due 2023
S-3 33-38970 NBD Bancorp, Inc. 7-1/4% Convertible Subordinated
Debentures Due 2006
/s/ Deloitte & Touche
- - -----------------------
Deloitte & Touche
Detroit, Michigan
June 28, 1994
