<PAGE> 1
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST 9, 1996
REGISTRATION NO. 333-
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
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ENRON OIL & GAS COMPANY
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
DELAWARE 47-0684736
(State or other jurisdiction (I.R.S. Employer
of incorporation or organization) Identification No.)
</TABLE>
1400 SMITH STREET, HOUSTON, TEXAS 77002
TELEPHONE NO. (713) 853-6161
(Address, including zip code, and telephone number, including area code, of
registrant's principal executive offices)
------------------------
BARRY HUNSAKER, JR., ESQ.
SENIOR VICE PRESIDENT AND GENERAL COUNSEL
ENRON OIL & GAS COMPANY
1400 SMITH STREET
HOUSTON, TEXAS 77002
(713) 853-6161
(Name, address, including zip code, and telephone number, including area code,
of agent for service)
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Copies to:
<TABLE>
<S> <C>
GARY W. ORLOFF, ESQ. REX R. ROGERS, ESQ.
BRACEWELL & PATTERSON, L.L.P. ASSISTANT GENERAL COUNSEL
SOUTH TOWER PENNZOIL PLACE, SUITE 2900 ENRON CORP.
711 LOUISIANA STREET 1400 SMITH STREET, ROOM 4842
HOUSTON, TEXAS 77002 HOUSTON, TEXAS 77002
</TABLE>
APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE OF THE SECURITIES TO THE
PUBLIC: From time to time after the effective date of this Registration
Statement as determined in light of market conditions and other factors.
If the only securities being registered on this Form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box. / /
If any of the securities being registered on this Form are to be offered on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act of
1933, check the following box. /X/
If this Form is filed to register additional securities for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. / /
If this Form is a post-effective amendment filed pursuant to Rule 462(c)
under the Securities Act, check the following box and list the Securities Act
registration statement number of the earlier effective registration statement
for the same offering. / /
If delivery of the prospectus is expected to be made pursuant to Rule 434,
please check the following box. / /
------------------------
CALCULATION OF REGISTRATION FEE
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<S> <C> <C> <C> <C>
PROPOSED PROPOSED
AMOUNT MAXIMUM MAXIMUM AMOUNT OF
TITLE OF EACH CLASS OF TO BE OFFERING PRICE AGGREGATE REGISTRATION
SECURITIES TO BE REGISTERED REGISTERED PER UNIT OFFERING PRICE(1) FEE
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Debt Securities
Common Stock, $.01 par value (2) (2) $150,000,000 $51,725
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</TABLE>
(1) Estimated solely for the purposes of calculating the registration fee.
(2) Not applicable pursuant to Form S-3 General Instruction II. D under the
Securities Act of 1933.
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THE REGISTRANT HEREBY AMENDS THE REGISTRATION STATEMENT ON SUCH DATE OR
DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL
FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES THAT THIS REGISTRATION
STATEMENT SHALL THEREAFTER BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) OF
THE SECURITIES ACT OF 1933 OR UNTIL THE REGISTRATION STATEMENT SHALL BECOME
EFFECTIVE ON SUCH DATE AS THE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(a),
MAY DETERMINE.
PURSUANT TO RULE 429 UNDER THE SECURITIES ACT OF 1933, THIS REGISTRATION
STATEMENT CONTAINS A COMBINED PROSPECTUS THAT ALSO RELATES TO $250,000,000 OF
OTHER SECURITIES REGISTERED ON FORM S-3, REGISTRATION STATEMENT NO. 33-42620,
WHICH WAS DECLARED EFFECTIVE ON SEPTEMBER 27, 1991 (THE "PREVIOUSLY REGISTERED
SECURITIES"). THIS REGISTRATION STATEMENT CONSTITUTES POST-EFFECTIVE AMENDMENT
NO. 1 TO REGISTRATION STATEMENT NO. 33-42620, PURSUANT TO WHICH THE TOTAL AMOUNT
OF UNSOLD PREVIOUSLY REGISTERED SECURITIES REGISTERED ON REGISTRATION STATEMENT
NO. 33-42620, WITHOUT LIMITATION AS TO CLASS OF SECURITIES, MAY BE OFFERED AND
SOLD AS DEBT SECURITIES AND/OR COMMON STOCK TOGETHER WITH THE SECURITIES
REGISTERED HEREUNDER THROUGH THE USE OF THE COMBINED PROSPECTUS INCLUDED HEREIN.
IN THE EVENT SUCH PREVIOUSLY REGISTERED SECURITIES ARE OFFERED AND SOLD PRIOR TO
THE EFFECTIVE DATE OF THIS REGISTRATION STATEMENT, THE AMOUNT OF SUCH PREVIOUSLY
REGISTERED SECURITIES SO SOLD WILL NOT BE INCLUDED IN THE PROSPECTUS HEREUNDER.
IN ACCORDANCE WITH RULE 429(b), THE AMOUNT OF THE PREVIOUSLY PAID FILING FEE
ASSOCIATED WITH THE PREVIOUSLY REGISTERED SECURITIES WAS $62,500.
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<PAGE> 2
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* INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. A *
* REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED *
* WITH THE SECURITIES AND EXCHANGE COMMISSION. THESE SECURITIES MAY NOT *
* BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED PRIOR TO THE TIME THE *
* REGISTRATION STATEMENT BECOMES EFFECTIVE. THIS PROSPECTUS SHALL NOT *
* CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR *
* SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY STATE IN WHICH SUCH *
* OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR *
* QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE. *
*****************************************************************************
SUBJECT TO COMPLETION, DATED AUGUST 9, 1996
PROSPECTUS
ENRON OIL & GAS COMPANY
$400,000,000
DEBT SECURITIES
COMMON STOCK
------------------------
Enron Oil & Gas Company (the "Company") may offer from time to time its
unsecured debt securities consisting of notes, debentures or other evidences of
indebtedness (the "Debt Securities"). The Company and/or Enron Corp. (the
"Selling Stockholder") may also offer and sell from time to time shares of
Common Stock, par value $.01 per share, of the Company (the "Common Stock"). The
aggregate initial offering price of the Debt Securities and the Common Stock to
be offered by the Company and Common Stock to be offered by the Selling
Stockholder hereby (the "Securities") will not exceed $400,000,000. The
Securities may be offered in amounts, at prices and on terms to be determined in
light of market conditions at the time of sale and set forth in a Prospectus
Supplement.
The Debt Securities may be offered as separate series. The terms of each
series of Debt Securities, including, where applicable, the specific
designation, aggregate principal amount, authorized denominations, maturity,
rate or rates and time or times of payment of any interest, any terms for
optional or mandatory redemption, which may include redemption at the option of
holders upon the occurrence of certain events, or payment of additional amounts
or any sinking fund provisions, and any other specific terms in connection with
the offering and sale of such series (the "Offered Debt Securities") will be set
forth in a Prospectus Supplement.
The Securities may be sold directly by the Company or the Selling
Stockholder to investors, through agents designated from time to time or to or
through underwriters or dealers. See "Plan of Distribution". If any underwriters
are involved in the sale of any Securities in respect of which this Prospectus
is being delivered, the names of such underwriters and any applicable
commissions or discounts will be set forth in a Prospectus Supplement. The net
proceeds to the Company from such sale also will be set forth in a Prospectus
Supplement. The Company will not receive any of the proceeds from the sale of
the Common Stock by the Selling Stockholder. Enron Corp. currently owns
approximately 59% of the outstanding Common Stock.
The Common Stock is listed on the New York Stock Exchange under the symbol
"EOG". On August 8, 1996, the last reported sale price of Common Stock on the
New York Stock Exchange Composite Tape was $27.38 per share.
Except for sales of Common Stock by the Selling Stockholder on the New York
Stock Exchange at prevailing market prices, this Prospectus may not be used to
consummate sales of Securities unless accompanied by a Prospectus Supplement.
------------------------
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
------------------------
THE DATE OF THIS PROSPECTUS IS , 1996
<PAGE> 3
AVAILABLE INFORMATION
The Company is subject to the informational requirements of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and in accordance
therewith files reports, proxy statements and other information with the
Securities and Exchange Commission (the "Commission"). Such reports, proxy
statements and other information can be inspected and copied at the public
reference facilities maintained by the Commission at Room 1024, 450 Fifth
Street, N.W., Washington, D.C. 20549; and at the following Regional Offices of
the Commission: Midwest Regional Office, 500 West Madison Street, Suite 1400,
Chicago, Illinois 60661; and Northeast Regional Office, 7 World Trade Center,
Suite 1300, New York, New York 10048. Copies of such material can also be
obtained from the Public Reference Section of the Commission at 450 Fifth
Street, N.W., Room 1024, Washington, D.C. 20549, at prescribed rates, or from
the site maintained by the Commission on the Internet World Wide Web at
http://www.sec.gov. The Company's Common Stock is listed on the New York Stock
Exchange, Inc. ("NYSE"), and reports, proxy statements and other information
concerning the Company can be inspected and copied at the offices of the NYSE at
20 Broad Street, New York, New York 10005.
This Prospectus constitutes a part of Registration Statements on Form S-3
(collectively, together with all amendments and exhibits thereto, the
"Registration Statement") filed by the Company with the Commission under the
Securities Act of 1933, as amended (the "Securities Act"), with respect to the
Securities offered hereby. This Prospectus does not contain all of the
information set forth in such Registration Statement, certain parts of which are
omitted in accordance with the rules and regulations of the Commission.
Reference is made to such Registration Statement and to the exhibits relating
thereto for further information with respect to the Company and the Securities
offered hereby. Any statements contained herein concerning the provisions of any
document filed as an exhibit to the Registration Statement or otherwise filed
with the Commission or incorporated by reference herein are not necessarily
complete, and in each instance reference is made to the copy of such document so
filed for a more complete description of the matter involved. Each such
statement is qualified in its entirety by such reference.
---------------------
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The Company's Annual Report on Form 10-K for the year ended December 31,
1995, Quarterly Reports on Form 10-Q for the quarters ended March 31, 1996 and
June 30, 1996, and the description of the Common Stock contained in the
Registration Statement on Form 8-A declared effective on October 3, 1989, are
incorporated herein by reference.
Each document filed by the Company pursuant to Section 13(a), 13(c), 14 or
15(d) of the Exchange Act subsequent to the date of this Prospectus and prior to
the termination of the offering of the Securities pursuant hereto shall be
deemed to be incorporated herein by reference and to be a part hereof from the
date of filing of such document. Any statement contained herein or in a document
all or a portion of which is incorporated or deemed to be incorporated by
reference herein shall be deemed to be modified or superseded for purposes of
this Prospectus to the extent that a statement contained herein or in any
subsequently filed document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement. Any statement so
modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this Prospectus.
The Company will provide without charge to each person to whom a copy of
this Prospectus is delivered, on the request of any such person, a copy of any
or all of the foregoing documents incorporated herein by reference, other than
exhibits to such documents (unless such exhibits are specifically incorporated
by reference into the documents that this Prospectus incorporates). Requests
should be directed to Secretary, Enron Oil & Gas Company, at its principal
executive offices, 1400 Smith Street, Houston, Texas 77002 (telephone:
713-853-6161).
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IN CONNECTION WITH THIS OFFERING, UNDERWRITERS MAY OVER-ALLOT OR EFFECT
TRANSACTIONS WHICH STABILIZE OR MAINTAIN THE MARKET PRICES OF THE SECURITIES
OFFERED HEREBY AT LEVELS ABOVE THOSE WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN
MARKET. SUCH TRANSACTIONS MAY BE EFFECTED ON THE NEW YORK STOCK EXCHANGE, IN THE
OVER-THE-COUNTER MARKET OR OTHERWISE. SUCH STABILIZING, IF COMMENCED, MAY BE
DISCONTINUED AT ANY TIME.
2
<PAGE> 4
BUSINESS OF THE COMPANY
GENERAL
The Company, a Delaware corporation organized in 1985, is engaged in the
exploration for, and the development, production and marketing of, natural gas
and crude oil primarily in major producing basins in the United States, as well
as in Canada, Trinidad and India and, to a lesser extent, selected other
international areas. At December 31, 1995, the Company's estimated net proved
natural gas reserves were 3,343 billion cubic feet ("Bcf"), including 1,180 Bcf
of proved undeveloped methane reserves in the Big Piney deep Paleozoic
formations and amounts related to a volumetric production payment, and the
Company's estimated net proved crude oil, condensate and natural gas liquids
reserves were 50 million barrels. At such date, approximately 78% of the
Company's reserves (on a natural gas equivalent basis) was located in the United
States, 10% in Canada, 8% in Trinidad and 4% in India.
The Company's business strategy is to maximize the rate of return on
investment of capital by controlling both operating and capital costs. The
Company has in the past and may in the future enter into various commodity
market related mechanisms designed to enhance the certainty of future revenues
as related to certain portions of its anticipated commodity sales volumes. This
strategy enhances the generation of both income and cash flow from each unit of
production and allows for the growth of production on a cost-effective basis by
optimizing the reinvestment of cash flow. The Company implements its strategy by
emphasizing the drilling of internally generated prospects in order to find and
develop low cost reserves. Achieving and maintaining the lowest possible cost
structure are also important goals in the implementation of the Company's
strategy. Consistent with the Company's desire to optimize the use of its
assets, it also maintains a strategy of selling selected oil and gas properties
that for various reasons may no longer fit into future operating plans, or which
are not assessed to have sufficient future growth potential and when the
economic value to be obtained by selling the properties and reserves in the
ground is evaluated to be greater than what would be obtained by holding the
properties and producing the reserves over time. As a result, the Company
typically receives each year a varying but substantial level of proceeds related
to such sales which proceeds are available for general corporate use.
Unless the context requires otherwise, as used in this Prospectus the
"Company" shall mean Enron Oil & Gas Company and its subsidiaries.
EXPLORATION AND PRODUCTION
NORTH AMERICAN OPERATIONS
The Company's seven principal United States producing areas are the Big
Piney area in northwest Wyoming, South Texas area, East Texas area, Offshore
Gulf of Mexico area, Canyon Trend area in West Texas, Pitchfork Ranch area in
southeast New Mexico and Vernal area in northeast Utah. Properties in these
areas are substantially all operated by the Company, and comprised approximately
67% of the Company's United States reserves (on a natural gas equivalent basis)
and 90% of the Company's maximum United States net natural gas deliverability as
of December 31, 1995.
The Company's other United States natural gas and crude oil producing
properties are located primarily in other areas of Texas, Utah, New Mexico,
Oklahoma, California and Kansas.
At December 31, 1995, 95% of the Company's proved United States reserves
(on a natural gas equivalent basis) was natural gas and 5% was crude oil,
condensate and natural gas liquids. A substantial portion of the Company's
United States natural gas reserves is in long-lived fields with well-established
production histories. The Company believes that opportunities exist to increase
production in many of these fields through continued infill and other
development drilling.
The Company also has natural gas and crude oil producing properties located
in Western Canada, primarily in the provinces of Alberta, Saskatchewan and
Manitoba.
3
<PAGE> 5
OUTSIDE NORTH AMERICA OPERATIONS
The Company has operations offshore Trinidad and India, was recently
awarded by Venezuela the rights to pursue development of reserves on the Gulf of
Paria East Block offshore the eastern state of Sucre, and is conducting
exploration in selected other international areas. Properties offshore Trinidad
and India comprised 100% of the Company's proved reserves and production outside
of North America at year end 1995.
MARKETING
Wellhead Marketing. The Company's North America wellhead natural gas
production is currently being sold on the spot market and under long-term
natural gas contracts at market responsive prices. In many instances, the
long-term contract prices closely approximate the prices received for natural
gas being sold on the spot market. Wellhead natural gas volumes from Trinidad
are sold at prices that are based on a fixed price schedule with annual
escalations. Natural gas volumes in India will be sold to the Gas Authority of
India, Ltd. under a take-or-pay contract at a price linked to a basket of world
market fuel oil quotations with floor and ceiling limits. Approximately 30% of
the Company's wellhead natural gas production is currently being sold to
pipeline and marketing subsidiaries of Enron Corp. The Company believes that the
terms of its transactions and agreements with Enron Corp. and/or its affiliates
are and intends that future such transactions and agreements will be at least as
favorable to the Company as could be obtained from third parties.
Substantially all of the Company's wellhead crude oil and condensate is
sold under various terms and arrangements at market responsive prices.
Other Marketing. Enron Oil & Gas Marketing, Inc. ("EOGM"), a wholly-owned
subsidiary of the Company, is a marketing company engaging in various marketing
activities. Both the Company and EOGM contract to provide, under short-term and
long-term agreements, natural gas to various purchasers and then aggregate the
necessary supplies for the sales with purchases from various sources including
third-party producers, marketing companies, pipelines or from the Company's own
production. In addition, EOGM has purchased and constructed several small
gathering systems in order to facilitate its entry into the gathering business
on a limited basis. Both the Company and EOGM utilize other short and long-term
hedging and trading mechanisms including sales and purchases utilizing
NYMEX-related commodity market transactions. These marketing activities have
provided an effective balance in managing a portion of the Company's exposure to
commodity price risks for both natural gas and crude oil and condensate wellhead
prices.
4
<PAGE> 6
USE OF PROCEEDS
The Company intends to apply any net proceeds it receives from the sale of
the Securities to its general funds to be used for general corporate purposes,
including in certain circumstances to retire outstanding indebtedness. Any
specific allocations of the proceeds to a particular purpose that has been made
at the date of any Prospectus Supplement will be described therein. The Company
will not receive any of the proceeds of the sale of Common Stock by the Selling
Stockholder.
RATIO OF EARNINGS TO FIXED CHARGES
<TABLE>
<CAPTION>
SIX MONTHS YEAR ENDED DECEMBER 31,
ENDED --------------------------------------------------------------------------
JUNE 30, 1996 1995 1994 1993 1992 1991
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<S> <C> <C> <C> <C> <C> <C>
Ratio of Earnings to Fixed
Charges..................... 10.31 10.64 11.12 7.95 3.95 2.21
</TABLE>
For purposes of computing the ratio of earnings to fixed charges, earnings
consist of income before income taxes plus interest, net of amounts capitalized.
Fixed charges consist of interest on debt including amounts capitalized,
amortization of debt discount and issuance expense and that portion of rental
expense determined to be representative of interest.
5
<PAGE> 7
DESCRIPTION OF DEBT SECURITIES
The following description of the terms of the Debt Securities sets forth
certain general terms and provisions of the Debt Securities to which any
Prospectus Supplement may relate (the "Offered Debt Securities"). The particular
terms of the Offered Debt Securities and the extent, if any, to which such
general provisions may apply to the Offered Debt Securities are described in the
Prospectus Supplement relating to such Offered Securities.
The Debt Securities will be unsecured obligations of the Company issued
under an Indenture (the "Indenture") between the Company and Texas Commerce Bank
National Association, as Trustee (the "Trustee"), dated as of September 1, 1991.
The following statements are summaries of certain provisions contained in the
Indenture, the form of which is filed as an exhibit to the Registration
Statement of which this Prospectus is a part. They do not purport to be complete
statements of all the terms and provisions of the Indenture, and reference is
hereby made to the Indenture for full and complete statements of such terms and
provisions, including the definitions of certain terms used herein. Wherever
reference is made in the following statements to a particular section of the
Indenture, such section shall be deemed to be incorporated in such statements as
a part thereof, and such statements are qualified in their entirety by such
reference. The italicized references below are to the section numbers in the
Indenture.
GENERAL
The Indenture does not limit the aggregate principal amount of unsecured
debentures, notes or other evidences of indebtedness of the Company which may be
issued thereunder from time to time in one or more series by the Company, and
the Company may in the future issue additional securities (in addition to the
Debt Securities) under the Indenture. Reference is made to the Prospectus
Supplement for the following terms of the Offered Debt Securities: (i) the title
of the Offered Debt Securities; (ii) any limit upon the aggregate principal
amount of the Offered Debt Securities; (iii) the date or dates on which the
principal of the Offered Debt Securities is payable; (iv) the rate or rates
(which may be fixed or variable), or the method by which such rate or rates
shall be determined, at which the Offered Debt Securities shall bear interest,
if any, the date or dates from which such interest shall accrue, or the method
by which such date or dates shall be determined, the interest payment dates on
which such interest shall be payable and the regular record date for the
interest payable on any interest payment date; (v) the place or places where the
principal of (and premium, if any) and interest on Offered Debt Securities shall
be payable; (vi) the period or periods within which, the price or prices at
which and the terms and conditions upon which Offered Debt Securities may be
redeemed, in whole or in part, at the option of the Company, if the Company is
to have that option; (vii) the obligation, if any, and the option, if any, of
the Company to redeem, purchase or repay Offered Debt Securities pursuant to any
sinking fund or analogous provisions or at the option of a holder thereof and
the period or periods within which, the price or prices at which and the terms
and conditions upon which Offered Debt Securities shall be redeemed, purchased
or repaid in whole or in part, pursuant to such obligation or option; (viii)
whether the Offered Debt Securities are to be issued in whole or in part in the
form of one or more permanent global securities and, if so, the identity of the
depositary for such permanent global securities; (ix) any trustees, paying
agents, transfer agents or registrars with respect to Offered Debt Securities;
and (x) any other term of the Offered Debt Securities (which term shall not be
inconsistent with the provisions of the Indenture. (Section 301.)
The Company will maintain in each place specified by the Company for
payment of any series of Offered Debt Securities an office or agency where
Offered Debt Securities of that series may be presented or surrendered for
payment, where Offered Debt Securities of that series may be surrendered for
registration of transfer or exchange and where notices and demands to or upon
the Company in respect of the Offered Debt Securities of that series and the
Indenture may be served.
Unless otherwise indicated in the Prospectus Supplement relating thereto,
the Offered Debt Securities will be issued only in fully registered form,
without coupons, in denominations of $1,000 or integral multiples thereof.
(Section 302.) No service charge will be made for any transfer or exchange of
such Offered Debt
6
<PAGE> 8
Securities, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in relation thereto. (Section 305.)
Debt Securities may be issued under the Indenture as Original Issue
Discount Securities to be offered and sold at a substantial discount below their
principal amount. Special federal income tax, accounting and other
considerations applicable to any such Original Issue Discount Securities will be
described in any Prospectus Supplement relating thereto. "Original Issue
Discount Securities" means any security which provides for an amount less than
the principal amount thereof to be due and payable upon a Event of Default and
the continuation thereof. (Section 101.)
Unless otherwise indicated in a Prospectus Supplement, the covenants
contained in the Indenture and the Debt Securities would not necessarily afford
holders of the Debt Securities protection in the event of a highly leveraged or
other transaction involving the Company that may adversely affect holders.
PERMANENT GLOBAL DEBT SECURITIES
If any Offered Debt Securities are issuable in permanent global form, the
applicable Prospectus Supplement will describe the circumstances, if any, under
which beneficial owners of interests in any such permanent global Debt Security
may exchange such interests for Debt Securities of such series and of like tenor
and principal amount in any authorized form and denomination. (Section 305.)
Principal of and any premium and interest on a permanent global Debt Security
will be payable in the manner described in the applicable Prospectus Supplement.
LIMITATIONS ON LIENS
The Indenture provides that so long as any of the securities issued under
the Indenture (including the Debt Securities) are outstanding, the Company will
not, and will not permit any Subsidiary to, create or suffer to exist, except in
favor of the Company or any Subsidiary, any Lien upon any Principal Property at
any time owned by it, to secure any Funded Debt of the Company or any
Subsidiary, unless effective provision is made whereby outstanding securities
issued under the Indenture (including the Debt Securities) will be equally and
ratably secured with any and all such Funded Debt and with any other
indebtedness similarly entitled to be equally and ratably secured. This
restriction does not apply to prevent the creation or existence of any: (a)
Acquisition Lien or Permitted Encumbrance; or (b) Lien created or assumed by the
Company or a Subsidiary in connection with the issuance of debt securities the
interest on which is excludable from gross income of the holder of such security
pursuant to the Internal Revenue Code of 1986, as amended, for the purpose of
financing, in whole or in part, the acquisition or construction of property or
assets to be used by the Company or a Subsidiary. In case the Company or any
Subsidiary shall propose to create or permit to exist a Lien on any Principal
Property at any time owned by it to secure any Funded Debt of the Company or any
Subsidiary, other than Funded Debt permitted to be secured under clauses (a) or
(b) above, the Company will prior thereto give written notice thereof to the
Trustee, and the Company will, or will cause such Subsidiary to, prior to or
simultaneously with such creation or permission to exist, by supplemental
indenture executed to the Trustee (or to the extent legally necessary to another
trustee or additional or separate trustee), in form satisfactory to the Trustee,
effectively secure all the securities issued under the Indenture equally and
ratably with such Funded Debt and any other indebtedness entitled to be equally
and ratably secured.
Notwithstanding the foregoing, the Company or a Subsidiary may issue,
assume or guarantee Funded Debt secured by a Lien which would otherwise be
subject to the foregoing restrictions in an aggregate amount which, together
with all other Funded Debt of the Company or a Subsidiary secured by a Lien
which (if originally issued, assumed or guaranteed at such time) would otherwise
be subject to the foregoing restrictions (not including Funded Debt permitted to
be secured under the foregoing exception), does not at the time exceed 10% of
the Consolidated Net Tangible Assets of the Company, as shown on the audited
consolidated financial statements of the Company as of the end of the fiscal
year preceding the date of determination. (Section 1007.)
7
<PAGE> 9
The holder of more than 50% in principal amount of the outstanding
securities issued under the Indenture (including the Debt Securities) may waive
compliance by the Company with the covenant contained in Section 1007 of the
Indenture (and certain other covenants of the Company). (Section 1009.)
The Indenture defines the term "Subsidiary" to mean a corporation more than
50% of the outstanding voting stock of which is owned, directly or indirectly,
by the Company or by one or more other Subsidiaries, or by the Company and one
or more other Subsidiaries. The term "Principal Property" is defined to mean any
property interest in oil and gas reserves located in the United States or
offshore the United States and owned by the Company or any Subsidiary and which
is capable of producing crude oil, condensate, natural gas, natural gas liquids
or other similar hydrocarbon substances in paying quantities, the net book value
of which property interest exceeds two (2) percent of Consolidated Net Tangible
Assets, except any such property interest or interests that in the opinion of
the Board of Directors is not of material importance to the total business
conducted by the Company and its Subsidiaries as a whole. Without limitation,
the term "Principal Property" shall not include (i) accounts receivable and
other obligations of any obligor under a contract for the sale, exploration,
production, drilling, development, processing or transportation of crude oil,
condensate, natural gas, natural gas liquids or other similar hydrocarbon
substances by the Company or any of its Subsidiaries, and all related rights of
the Company or any of its Subsidiaries, and all guarantees, insurance, letters
of credit and other agreements or arrangements of whatever character supporting
or securing payment of such receivables or obligations, or (ii) the production
or any proceeds from production of crude oil, condensate, natural gas, natural
gas liquids or other similar hydrocarbon substances. (Section 101.)
The term "indebtedness," as applied to the Company or any Subsidiaries, is
defined to mean bonds, debentures, notes and other instruments representing
obligations created or assumed by any such corporation for the repayment of
money borrowed (other than unamortized debt discount or premium). All
indebtedness secured by a Lien upon property owned by the Company or any
Subsidiary and upon which indebtedness any such corporation customarily pays
interest, although any such corporation has not assumed or become liable for the
payment of such indebtedness, is also deemed to be indebtedness of any such
corporation. All indebtedness for money borrowed incurred by other persons which
is directly guaranteed as to payment of principal by the Company or any
Subsidiary is for all purposes of the Indenture deemed to be indebtedness of any
such corporation, but no other contingent obligation of any such corporation in
respect of indebtedness incurred by other persons is for any purpose deemed
indebtedness of such corporation. Indebtedness of the Company or any Subsidiary
does not include (i) any amount representing capitalized lease obligations; (ii)
indirect guarantees or other contingent obligations in connection with the
indebtedness of others, including agreements, contingent or otherwise, with such
persons or with third persons, with respect to, or to permit or ensure the
payment of, obligations of such other persons, including, without limitation,
agreements to purchase or repurchase obligations of such other persons, to
advance or supply funds to or to invest in such other persons, or agreements to
pay for property, products or services of such other persons (whether or not
conferred, delivered or rendered), and any demand charge, throughput,
take-or-pay, keep-well, make-whole, cash deficiency, maintenance of working
capital or earnings or similar agreements; and (iii) any guarantees with respect
to lease or other similar periodic payments to be made by other persons.
(Section 101.)
The term "Funded Debt" as applied to the Company or any Subsidiary is
defined to mean all indebtedness incurred, created, assumed or guaranteed by the
Company or any Subsidiary, or upon which such corporation customarily pays
interest charges, which matures, or is renewable by such corporation to a date,
more than one year after the date as of which Funded Debt is being determined.
(Section 101.)
"Lien" is defined to mean any mortgage, pledge, lien, security interest or
similar charge or encumbrance. (Section 101.) "Acquisition Lien" is defined to
mean any (i) Lien upon any property acquired before or after the date of the
Indenture, created at the time of acquisition or within one year thereafter to
secure all or a portion of the purchase price thereof, or existing thereon at
the date of acquisition, whether or not assumed by the Company or any
Subsidiary, provided that any such Lien applies only to the property so acquired
and fixed improvements thereon, (ii) Lien upon any property acquired before or
after the date of the Indenture by any corporation that is or becomes a
Subsidiary after the date of the Indenture ("Acquired Entity"), provided that
any such Lien (1) shall either (A) exist prior to the time the Acquired Entity
becomes a Subsidiary or (B) be created at the time the Acquired Entity becomes a
Subsidiary or within one year thereafter to secure all or a
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<PAGE> 10
portion of the acquisition price thereof and (2) shall only apply to those
properties owned by the Acquired Entity at the time it becomes a subsidiary or
thereafter acquired by it from sources other than the Company or any other
Subsidiary, and (iii) any extension, renewal or refunding, in whole or in part,
of any Lien permitted by clause (i) or (ii) above, if limited to the same
property or any portion thereof subject to, and securing not more than the
amount secured by, the Lien extended, renewed or refunded. (Section 101.)
"Permitted Encumbrance" is defined to mean any (a) Lien reserved in any
oil, gas or other mineral lease for rent, royalty or delay rental under such
lease and for compliance with the terms of such lease; (b) Lien for any
judgments or attachments in an aggregate amount not in excess of $10,000,000, or
Lien for any judgment or attachment the execution or enforcement of which has
been stayed or which has been appealed and secured, if necessary, by the filing
of an appeal bond; (c) sale or other transfer of crude oil, condensate, natural
gas, natural gas liquids or other similar hydrocarbon substances in place, or
the future production thereof, for a period of time until, or in an amount such
that, the transferee will realize therefrom a specified amount (however
determined) of money or a specified amount of such crude oil, condensate,
natural gas, natural gas liquids or other similar hydrocarbon substances or the
sale or other transfer of any other interest in property of the character
commonly referred to as a "production payment," "overriding royalty," "net
profits interest," "royalty" or similar burden on any oil and gas property or
mineral interest owned by the Company or any Subsidiary; (d) Lien consisting of
or reserved in any (i) grant or conveyance in the nature of a farm-out or
conditional assignment to the Company or any Subsidiary entered into in the
ordinary course of business to secure any undertaking of the Company or any
Subsidiary in such grant or conveyance, (ii) interest of an assignee in any
proved undeveloped lease or proved undeveloped portion of any producing property
transferred to such assignee for the purpose of the development of such lease or
property, (iii) unitization or pooling agreement or declaration, (iv) contract
for the sale, purchase, exchange or processing of production, or (v) operating
agreement, area of mutual interest agreement and other agreement which is
customary in the oil and gas business and which agreement does not materially
detract from the value, or materially impair the use of, the properties affected
thereby; (e) Lien arising out of any forward contract, futures contract, swap
agreement or other commodities contract entered into by the Company or any
Subsidiary; (f) Lien on any oil and gas property of the Company or any
Subsidiary thereof, or on production therefrom, to secure any liability of the
Company or such Subsidiary for all or part of the Development Cost for such
property under any joint operating, drilling or similar agreement for
exploration, drilling or development of such property, or any renewal or
extension of such Lien; or (g) certain other Liens as described in the
Indenture. (Section 101.)
MODIFICATION OF THE INDENTURE
With certain exceptions, the Indenture provides that, with the consent of
the holders of more than 50% in principal amount of all outstanding securities
issued under the Indenture (the "Indenture Securities") (including, where
applicable, the Debt Securities) affected thereby, the Company and the Trustee
may enter into a supplemental indenture for the purpose of adding to, changing
or eliminating any of the provisions of the Indenture or modifying in any manner
the rights of the holders of Indenture Securities. Notwithstanding the
foregoing, the consent of the holder of each outstanding Indenture Security
affected thereby will be required to: (a) change the Stated Maturity of the
principal of, or any installment of principal of or interest on, any Indenture
Security, or reduce the principal amount thereof or the rate of interest thereon
or any premium payable upon the redemption thereof, or change any Place of
Payment where, or change the coin or currency in which, any Indenture Security
or any premium or the interest thereon is payable, or impair the right to
institute suit for the enforcement of any such payment on or after the Stated
Maturity thereof (or, in the case of redemption, on or after the Redemption
Date); (b) reduce the percentage in principal amount of the outstanding
Indenture Securities of any series, the consent of whose holders is required for
any supplemental indenture or for any waiver provided for in the Indenture; or
(c) with certain exceptions, modify any of the provisions of the section of the
Indenture which concern waiver of past defaults, waiver of certain covenants or
consent to supplemental indentures, except to increase the percentage of
principal amount of Indenture Securities of any series, the holders of which are
required to effect such waiver or consent or to provide that certain other
provisions of the Indenture cannot be modified or waived without the consent of
the holder of each outstanding Indenture Security affected thereby. The
Indenture provides that a supplemental indenture which changes or eliminates any
covenant or other provision of the Indenture which has expressly been
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<PAGE> 11
included solely for the benefit of one or more particular series of Indenture
Securities, or which modifies the rights of the holders of Indenture Securities
of such series with respect to such covenant or other provision shall be deemed
not to affect the rights under the Indenture of the holder of Indenture
Securities of any other series. (Section 902.)
EVENTS OF DEFAULT AND RIGHTS UPON DEFAULT
Under the Indenture, the term "Event of Default" with respect to any series
of Indenture Securities, means any one of the following events which shall have
occurred and is continuing: (a) default in the payment of any interest upon any
Indenture Security of that series when it becomes due and payable or default in
the payment of any mandatory sinking fund payment provided for by the terms of
any series of Indenture Securities, and continuance of such default for a period
of 30 days; (b) default in the payment of the principal of (or premium, if any,
on) any Indenture Security of that series at its Maturity; (c) default in the
performance, or breach, of any covenant or warranty of the Company in the
Indenture (other than a covenant or warranty a default in whose performance or
whose breach is otherwise specifically dealt with in the Indenture or which has
been expressly included in the Indenture solely for the benefit of one or more
series of Indenture Securities other than that series), and continuance of such
default or breach for 60 days after there has been given to the Company by the
Trustee, or to the Company and the Trustee by the holders of at least 25% in
principal amount of all outstanding Indenture Securities, a written notice
specifying such default or breach and requiring it to be remedied and stating
that such notice is a "Notice of Default" under the Indenture; or (d) certain
events involving the Company in bankruptcy, receivership or other insolvency
proceedings or an assignment for the benefit of creditors (Section 501.)
If an Event of Default described in clause (a) or (b) in the foregoing
paragraph has occurred and is continuing with respect to Indenture Securities of
any series, the Indenture provides that the Trustee or the holders of not less
than 25% in principal amount of the outstanding Indenture Securities of that
series may declare the principal amount of all of the Indenture Securities of
that series to be due and payable immediately, and upon any such declaration
such principal amount shall become immediately due and payable. If an Event of
Default described in clause (c) or (d) of the foregoing paragraph occurs and is
continuing, the Trustee or the holders of not less that 25% in principal amount
of all of the Indenture Securities then outstanding may declare the principal
amount of all of the Indenture Securities to be due and payable immediately, and
upon any such declaration such principal amount shall become immediately due and
payable. (Section 502.)
A default under other indebtedness of the Company is not an Event of
Default under the Indenture, and an Event of Default under one series of
Indenture Securities will not necessarily be an Event of Default under another
series.
At any time after such a declaration of acceleration with respect to
Indenture Securities of any series (or of all series, as the case may be) has
been made and before judgment or decree for payment of the money due has been
obtained by the Trustee, the holders of a majority in principal amount of the
outstanding Indenture Securities of that series (or of all series, as the case
may be) may rescind and annul such declaration and its consequences, if subject
to certain conditions, all Events of Default with respect to Indenture
Securities of that series (or of all series, as the case may be), other than the
non-payment of the principal of the Indenture Securities due solely by such
declaration of acceleration, have been cured or waived and all payments due
(other than by acceleration) have been paid or deposited with the Trustee.
(Section 502.) With certain exceptions, the holders of not less than a majority
in principal amount of the outstanding Indenture Securities of any series, on
behalf of the holders of all the Indenture Securities of such series, may waive
any past default described in clause (a) or (b) of the first paragraph of this
heading "Events of Default and Rights Upon Default" (or, in the case of a
default described in clause (c) or (d) of such paragraph, the holders of a
majority in principal amount of all outstanding Indenture Securities may waive
any such past default), and its consequences, except a default (a) in the
payment of the principal of (or premium, if any) or interest on any Indenture
Security, or (b) in respect to a covenant or provision of the Indenture which
under the Indenture cannot be modified or amended without the consent of the
holder of each outstanding Indenture Security of such series affected. (Section
513.)
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<PAGE> 12
The holders of not less than a majority in principal amount of the
Indenture Securities of any series at the time outstanding are empowered under
the terms of the Indenture, subject to certain limitations, to direct the time,
method and place of conducting any proceeding for any remedy available to the
Trustee or exercising any trust or power conferred on the Trustee. (Section
512.)
The Indenture further provides that no holder of an Indenture Security of
any series may enforce the Indenture except in the case of failure by the
Trustee to act for 60 days after notice of a continuing Event of Default with
respect to the Indenture Securities of that series and after request by the
holders of not less than 25% in principal amount of the outstanding Indenture
Securities of such series and the offer to the Trustee of reasonable indemnity,
but this provision will not prevent a holder of any Indenture Security from
enforcing the payment of the principal of, and interest on, such holder's
Indenture Security. (Section 507 and 508.)
The Indenture requires that the Company deliver to the Trustee, within 120
days after the end of each fiscal year, an Officers' Certificate, stating
whether to the best knowledge of the signers thereof the Company is in default
in the performance and observance of certain of the terms of the Indenture, and
if so, specifying each such default and the nature and status thereof of which
the signers may have knowledge. (Section 1008.)
DISCHARGE OF INDENTURE
With certain exceptions, the Company may discharge its obligations under
the Indenture with respect to any series of Indenture Securities by (i) paying
or causing to be paid the principal of (and premium, if any) and interest on all
the Indenture Securities of such series outstanding, as and when the same shall
become due and payable; (ii) delivering to the Trustee all outstanding Indenture
Securities of such series for cancellation; or (iii) entering into an agreement
in form and substance satisfactory to the Company and the Trustee providing for
the creation of an escrow fund and depositing in trust with the Trustee, as
escrow agent of such fund, sufficient funds in cash and/or Eligible Obligations
and/or U.S. Government Obligations, maturing as to principal and interest in
such amounts and at such times, as will be sufficient to pay at the Stated
Maturity or Redemption Date all such Indenture Securities of such series not
previously delivered to the Trustee for cancellation, including principal (and
premium, if any) and interest to the Stated Maturity or Redemption Date.
(Section 401.)
The Indenture defines "Eligible Obligations" to mean interest bearing
obligations as a result of the deposit of which the Indenture Securities are
rated in the highest generic long-term debt rating category assigned to legally
defeased debt by one or more nationally recognized rating agencies. (Section
101).
For federal income tax purposes, there is a substantial risk that a legal
defeasance of a series of Indenture Securities by the deposit of cash, Eligible
Obligations, or U.S. Government Obligations in a trust would be characterized by
the Internal Revenue Service or a court as a taxable exchange by the holders of
the Indenture Securities of that series for either (i) an issue of obligations
of the defeasance trust or (ii) a direct interest in the cash and/or Eligible
Obligations and/or U.S. Government Obligations held in the defeasance trust. If
the defeasance were so characterized, then a holder of an Indenture Security of
the series defeased would be: (i) required to recognize gain or loss (which
would be capital gain or loss if the Indenture Securities were held as a capital
asset) at the time of the defeasance as if the Indenture Security had been sold
at such time for an amount equal to the amount of cash and the fair market value
of the Eligible Obligations and/or U.S. Government Obligations held in the
defeasance trust; (ii) required to include in income in each taxable year the
interest and any original issue discount or gain or loss attributable to either
such defeasance trust obligations or such securities, as the case may be; and
(iii) subject to the market discount provisions of the Internal Revenue Code as
they may pertain to such defeasance trust obligations or such securities. As a
result, a holder of an Indenture Security may be required to pay taxes on any
such gain or income even though such holder may not have received any cash
therefrom. Prospective investors are urged to consult their own advisors as to
the tax consequences of an actual or legal defeasance, including the
applicability and effect of tax laws other than Federal income tax law.
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<PAGE> 13
CONCERNING THE TRUSTEE
Texas Commerce Bank National Association, 712 Main Street, Houston, Texas
77002, is the Trustee under the Indenture. Such bank may from time to time also
act as a depository of funds for, make loans to, and perform other services for,
the Company, or its affiliates in the normal course of business. Forrest E.
Hoglund, Chairman of the Board, President and Chief Executive Officer, and a
Director of the Company, is also an advisory director of Texas Commerce Bank
National Association.
The holders of a majority in principal amount of the outstanding securities
issued under the Indenture will have the right to direct the time, method and
place of conducting any proceeding for exercising any remedy available to the
Trustee, subject to certain exceptions. The Indenture provides that if an Event
of Default occurs (and is not cured), the Trustee will be required, in the
exercise of its power, to use the degree of care of a prudent person in the
conduct of such person's own affairs. Subject to such provisions, the Trustee
will be under no obligation to exercise any of its rights or powers under the
Indenture at the request of any holder of securities issued under the Indenture,
unless such holder shall have offered to the Trustee security and indemnity
satisfactory to it against any loss, liability or expense and then only to the
extent required by the terms of the Indenture. The Trustee may resign at any
time or may be removed by the Company. If the Trustee resigns, is removed or
becomes incapable of acting as Trustee or if a vacancy occurs in the office of
the Trustee for any cause, a successor Trustee shall be appointed in accordance
with the provisions of the Indenture.
If the Trustee shall have or acquire any "conflicting interest" within the
meaning of the Trust Indenture Act, the Trustee shall either eliminate such
interest or resign, to the extent and in the manner provided by, and subject to
the provisions of, the Trust Indenture Act and the Indenture. (Section 608.) The
Trust Indenture Act also contains certain limitations on the right of the
Trustee, as a creditor of the Company, to obtain payment of claims in certain
cases, or to realize on certain property received by it in respect of such
claims, as security or otherwise. (Section 613.)
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<PAGE> 14
THE SELLING STOCKHOLDER
<TABLE>
<CAPTION>
BENEFICIAL OWNERSHIP(1)
------------------------ SHARES TO
SELLING STOCKHOLDER SHARES PERCENTAGE BE SOLD
- -------------------------------------------------------- --------- ---------- ----------
<S> <C> <C> <C>
Enron Corp.............................................. 94,360,000 59% (2)
</TABLE>
- ---------------
(1) Enron Corp. has previously issued certain Exchangeable Notes, which at
maturity may be exchanged for no more than 10,500,000 shares of Common Stock
owned by Enron Corp., subject to adjustment under certain circumstances and
to Enron Corp.'s option to pay an amount in cash in lieu of such mandatory
exchange. The shares that may be delivered upon exchange therefor are
beneficially owned by Enron Corp. until such time, if any, as they are
delivered at maturity of the Exchangeable Notes. If the maximum number of
shares of Common Stock are delivered at maturity of the Exchangeable Notes,
Enron Corp. will beneficially own 83,860,000 shares of Common Stock or
approximately 52.5% of the outstanding shares.
(2) The Selling Stockholder may sell from time to time a number of shares of
Common Stock totaling up to an aggregate initial offering price of no
greater than $400 million.
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RELATIONSHIP BETWEEN THE COMPANY AND ENRON CORP.
Ownership of Common Stock. Through its ability to elect all of the
directors of the Company, Enron Corp. has the ability to control all matters
relating to the management of the Company, including any determination with
respect to acquisitions or dispositions of Company assets, future issuance of
common stock or other securities of the Company and any dividends payable on the
Common Stock. Enron Corp. also has the ability to control the Company's
exploration, development, acquisition and operating expenditure plans. There is
no agreement between Enron Corp. and the Company that would prevent Enron Corp.
from acquiring additional shares of Common Stock of the Company.
Contractual Arrangements. The Company entered into a Services Agreement
(the "Services Agreement") with Enron Corp. effective January 1, 1994, pursuant
to which Enron Corp. provides various services, such as maintenance of certain
employee benefit plans, provision of telecommunications and computer services,
lease of office space and the provision of purchasing and operating services and
certain other corporate staff and support services. Such services historically
have been supplied to the Company by Enron Corp., and the Services Agreement
provides for the further delivery of such services substantially identical in
nature and quality to those services previously provided. The Company has agreed
to a fixed rate for the rental of office space and to reimburse Enron Corp. for
all other direct costs incurred in rendering services to the Company under the
contract and to pay Enron Corp. for allocated indirect costs incurred in
rendering such services up to a maximum of approximately $7.5 million in 1996.
The limit on cost for the allocated indirect services provided by Enron Corp. to
the Company will increase in subsequent years for inflation and certain changes
in the Company's allocation bases, but such increase will not exceed 7.5% per
year. The Services Agreement is for an initial term through December 1998 and
will continue thereafter until terminated by either party.
In March 1995, in a series of transactions with Enron Corp. and an
affiliate of Enron Corp., the Company exchanged all of its fuel supply and
purchase contracts and related price swap agreements associated with a Texas
City cogeneration plant (the "Cogen Contracts") for certain natural gas price
swap agreements (the "Swap Agreements") of equivalent value. As a result of the
transactions, the Company has been relieved of all performance obligations
associated with the Cogen Contracts. Under the terms of the Swap Agreements, the
Company will realize net operating revenues and receive corresponding cash
payments of approximately $91 million during the period extending through
December 31, 1999. The estimated fair value of the Swap Agreements was
approximately $81 million at the effective date the Swap Agreements. The net of
this series of transactions has resulted/will result in increases in net
operating revenues and cash receipts for the Company during 1995 and 1996 of
approximately $13 million and $7 million, respectively, with offsetting
decreases in 1998 and 1999 versus that anticipated under the Cogen Contracts.
Prior to December 14, 1995, the Company was included in the consolidated
federal income tax return filed by Enron Corp. as the common parent for itself
and its subsidiaries and affiliated companies, excluding any foreign
subsidiaries. Effective December 14, 1995 the Company and Enron Corp. entered
into a new tax allocation agreement pursuant to which, among other things, Enron
Corp. has agreed (in exchange for the payment of $13.0 million by the Company)
to be liable for, and indemnify the Company against, all United States federal
and state income taxes and certain foreign taxes imposed on the Company for
periods prior to December 14, 1995, the date Enron Corp. reduced its ownership
in the Company to less than 80%. The Company does not believe that the cessation
of consolidated tax reporting with Enron Corp. and effectiveness of the former
tax allocation agreement concurrently with deconsolidation or the terms of the
new tax allocation agreement will have a material adverse effect on its
financial condition or results of operations.
Conflicts of Interest. The nature of the respective businesses of the
Company and Enron Corp. and its affiliates is such as to potentially give rise
to conflicts of interest between the two companies. Conflicts could arise, for
example, with respect to transactions involving purchases, sales and
transportation of natural gas and other business dealings between the Company
and Enron Corp. and its affiliates, potential acquisitions of businesses or oil
and gas properties, the issuance of additional shares of voting securities, the
election of directors or the payment of dividends by the Company.
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<PAGE> 16
Circumstances may also arise that would cause Enron Corp. to engage in the
exploration for and/or development and production of natural gas and crude oil
in competition with the Company. For example, opportunities might arise which
would require financial resources greater than those available to the Company,
which are located in areas or countries in which the Company does not intend to
operate or which involve properties that the Company would be unwilling to
acquire. Also, Enron Corp. might acquire a competing oil and gas business as
part of a larger acquisition. In addition, as part of Enron Corp.'s strategy of
securing supplies of natural gas or capital, Enron Corp. may from time to time
acquire producing properties or interests in entities owning producing
properties, and thereafter engage in exploration, development and production
activities with respect to such properties or indirectly engage in such
activities through such companies. Enron Corp. subsidiaries provide or arrange
financing, including debt or equity financing, for exploration and production
companies that compete with the Company. In connection with such activities,
Enron Corp. affiliates may make investments in the debt or equity of such
companies. In its financing activities, Enron Corp. or an entity in which it has
an interest may make loans secured by oil and gas properties or securities of
oil and gas companies, may acquire production payments or may receive interests
in oil and gas properties as equity components of lending transactions. As a
result of its lending activities, Enron Corp. may also acquire oil and gas
properties or companies upon foreclosure of secured loans or as part of a
borrower's rearrangement of its obligations. Such acquisition, exploration,
development and production activities may directly or indirectly compete with
the Company's business. There can be no assurances that Enron Corp. will not
engage directly or indirectly through entities other than the Company, in the
natural gas and crude oil exploration, development and production business in
competition with the Company.
Joint Energy Development Investments Limited Partnership ("JEDI"), a
limited partnership in which a subsidiary of Enron Corp. owns a 50% general
partner interest, owns controlling interests in Coda Energy, Inc., and Mariner
Holdings, Inc. Such companies are engaged in the exploration for, and the
development, production and marketing of, natural gas and crude oil. Conflicts
may arise between these companies and the Company, and Enron Corp. will be
required to resolve such conflicts in a manner that is consistent with its
fiduciary and contractual duties to other investors in these companies and its
fiduciary duties to the Company. Enron Corp. has entered into agreements with
these companies and other investors in these companies designed to minimize
certain conflicts of interest that may arise and providing, among other things,
that the Company has no obligation to offer any business opportunities to these
companies.
The Company and Enron Corp. and its affiliates have in the past entered
into material intercompany transactions and agreements incident to their
respective businesses, and the Company and Enron Corp. and its affiliates may be
expected to enter into material transactions and agreements from time to time in
the future. Such transactions and agreements have related to, among other
things, the purchase and sale of natural gas and crude oil, the financing of
exploration and development efforts by the Company, and the provision of certain
corporate services. The Company believes that its existing transactions and
agreements with Enron Corp. and its affiliates have been at least as favorable
to the Company as could be obtained from third parties, and the Company intends
that the terms of any future transactions and agreements between the Company and
Enron Corp. and its affiliates will be at least as favorable to the Company as
could be obtained from third parties.
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<PAGE> 17
DESCRIPTION OF COMMON STOCK
AUTHORIZED AND OUTSTANDING CAPITAL STOCK
The authorized capital stock of the Company consists of 320,000,000 shares
of Common Stock, $.01 par value, of which 159,849,840 shares were outstanding on
August 1, 1996. The following summary description of the capital stock of the
Company is qualified in its entirety by reference to the Restated Certificate of
Incorporation of the Company, as amended, a copy of which is filed as an exhibit
to the Registration Statement of which this Prospectus is a part.
The Common Stock possesses ordinary voting rights for the election of
directors and in respect to other corporate matters, each share being entitled
to one vote. There are no cumulative voting rights, meaning that the holders of
a majority of the shares voting for the election of directors can elect all the
directors if they choose to do so. The Common Stock carries no preemptive rights
and is not convertible, redeemable or assessable, or entitled to the benefits of
any sinking fund. The holders of Common Stock are entitled to dividends in such
amounts and at such times as may be declared by the Board of Directors out of
funds legally available therefor.
Upon liquidation or dissolution, holders of Common Stock are entitled to
share ratably in all net assets available for distribution to stockholders after
payment of any corporate debts. All outstanding shares of Common Stock are duly
authorized, validly issued, fully paid and nonassessable.
The transfer agent and registrar of the Common Stock is First Chicago Trust
Company of New York, Jersey City, New Jersey.
LIMITATION ON DIRECTORS' LIABILITY
Delaware corporation law authorizes corporations to limit or eliminate the
personal liability of directors to corporations and their stockholders for
monetary damages for breach of directors' fiduciary duty of care. The duty of
care requires that, when acting on behalf of the corporation, directors must
exercise an informed business judgment based on all material information
reasonably available to them. Absent the limitations authorized by such laws,
directors are accountable to corporations and their stockholders for monetary
damages for conduct constituting gross negligence in the exercise of their duty
of care. The Delaware laws enable corporations to limit available relief to
equitable remedies such as injunction or rescission. The Restated Certificate of
Incorporation, as amended, of the Company limits the liability of directors of
the Company to the Company or its stockholders (in their capacity as directors
but not in their capacity as officers) to the fullest extent permitted by the
Delaware law. Specifically, directors of the Company will not be personally
liable for monetary damages for breach of a director's fiduciary duty as a
director, except for liability (i) for any breach of the director's duty of
loyalty to the Company or its stockholders, (ii) for acts or omissions not in
good faith or which involve intentional misconduct or a knowing violation of
law, (iii) for unlawful payments of dividends or unlawful stock repurchases or
redemptions as provided in Section 174 of the Delaware General Corporation Law,
or (iv) for any transaction from which the director derived an improper personal
benefit.
This provision in the Restated Certificate of Incorporation may have the
effect of reducing the likelihood of derivative litigation against directors,
and may discourage or deter stockholders or management from bringing a lawsuit
against directors for breach of their duty of care, even though such an action,
if successful, might otherwise have benefited the Company and its stockholders.
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<PAGE> 18
PLAN OF DISTRIBUTION
The Company and/or the Selling Stockholder may sell the Securities offered
hereby (i) through underwriters, brokers, dealers or agents; or (ii) directly to
purchasers. In addition, the Selling Stockholder may sell any shares of Common
Stock offered hereby from time to time in transactions (including block
transactions in which the Selling Stockholder is the seller) on the NYSE or any
other exchange on which the Common Stock may be traded, or in the
over-the-counter market. The Selling Stockholder may also sell shares of Common
Stock in special offerings, exchange distributions or secondary distributions in
accordance with the rules of the NYSE or such other exchange, in negotiated
transactions, including through the writing of call options or the purchase of
put options on shares of the Common Stock (whether such options are listed on an
options exchange or otherwise), or otherwise. The Selling Stockholder may effect
such transactions by selling shares of the Common Stock to or through
underwriters, dealers, brokers or agents. Such underwriters, dealers, brokers or
agents may sell such shares to institutional purchasers in one or more
transactions (including block transactions) on the NYSE or otherwise. Any sales
of the Securities may be made at market prices prevailing at the time of sale,
at prices related to such prevailing market prices or at negotiated prices.
Except for sales of Common Stock by the Selling Stockholder on the New York
Stock Exchange at prevailing market prices, the Prospectus Supplement with
respect to the Securities will set forth the terms of the offering of the
Securities, including the name or names of any underwriters or agents, the
purchase price of the Securities and the proceeds to the Company and/or the
Selling Stockholder from such sale, any delayed delivery arrangements, any
underwriting discounts and commissions and other items constituting
underwriters' compensation, any initial public offering price and any discounts
or concessions allowed or reallowed or paid to dealers. Any initial public
offering price and any discounts or concessions allowed or reallowed or paid to
dealers may be changed from time to time.
If underwriters are used in the sale, the Securities will be acquired by
the underwriters for their own account and may be resold from time to time in
one or more transactions, including negotiated transactions, at a fixed public
offering price or at varying prices determined at the time of sale. In
connection with the sale of the Securities, underwriters, brokers, dealers or
agents may be deemed to have received compensation from the Company or the
Selling Stockholder in the form of underwriting discounts or commissions and may
also receive commissions from purchasers of the Securities for whom they may act
as agent or to whom they may sell as principal. Underwriters or agents may sell
the Securities to or through dealers, and such dealers may receive compensation
in the form of discounts, concessions or commissions from the underwriters or
commissions from the purchasers for whom they may act as agent. The Securities
may be offered to the public either through underwriting syndicates represented
by one or more managing underwriters or directly by one or more firms acting as
underwriters. The underwriter or underwriters with respect to a particular
underwritten offering of Securities will be named in the Prospectus Supplement
relating to such offering and, if an underwriting syndicate is used, the
managing underwriter or underwriters will be set forth on the cover of such
Prospectus Supplement. Unless otherwise set forth in the Prospectus Supplement
relating thereto, the obligations of the underwriters to purchase the Securities
will be subject to certain conditions precedent, and the underwriters will be
obligated to purchase all the Securities offered if any are purchased.
If dealers are utilized in the sale of Securities, the Company and/or the
Selling Stockholder will sell such Securities to the dealers as principals. The
dealers may then resell such Securities to the public at varying prices to be
determined by such dealers at the time of resale. The names of dealers or
brokers acting as dealers and the terms of the transaction will be set forth in
the Prospectus Supplement relating thereto.
The Securities may be sold directly by the Company and/or the Selling
Stockholder or through agents designated by the Company and/or the Selling
Stockholder from time to time. Any agent involved in the offer or sale of the
Securities in respect to which this Prospectus is delivered will be named, and
any commissions payable by the Company and/or the Selling Stockholder to such
agent will be set forth, in the Prospectus Supplement relating thereto. Unless
otherwise indicated in the Prospectus Supplement, any such agent will be acting
on a best efforts basis for the period of its appointment.
If so indicated in the Prospectus Supplement, the Company and/or the
Selling Stockholder will authorize agents, underwriters, brokers or dealers to
solicit offers from certain types of institutions to purchase Securities
17
<PAGE> 19
from the Company and/or the Selling Stockholder at the public offering price set
forth in the Prospectus Supplement pursuant to delayed delivery contracts
providing for payment and delivery on a specified date in the future. Such
contracts will be subject only to those conditions set forth in the Prospectus
Supplement, and the Prospectus Supplement will set forth the commission payable
for solicitation of such contracts.
The Securities (other than the Common Stock), when first issued, will have
no established trading market. Any underwriters or agents to or through whom
Securities are sold by the Company or the Selling Stockholder for public
offering and sale may make a market in such Securities, but such underwriters or
agents will not be obligated to do so and may discontinue any market making at
any time without notice. No assurance can be given as to the liquidity of the
trading market for any such Securities.
Agents, brokers, dealers and underwriters may be entitled under agreements
with the Company and/or the Selling Stockholder to indemnification by the
Company against certain civil liabilities, including liabilities under the
Securities Act, or to contribution with respect to payments which such agents,
brokers, dealers or underwriters may be required to make in respect thereof.
Agents, brokers, dealers and underwriters may be customers of, engage in
transactions with or perform services for the Company or the Selling Stockholder
in the ordinary course of business.
VALIDITY OF SECURITIES
The validity of the Securities offered hereby will be passed upon for the
Company by Barry Hunsaker, Jr., Esq., Senior Vice President and General Counsel
of the Company, and for the Underwriters by Bracewell & Patterson, L.L.P. Mr.
Hunsaker owns substantially less than 1% of the outstanding shares of Common
Stock. Bracewell & Patterson, L.L.P. provides services to the Company and to
Enron Corp. and certain of its subsidiaries and affiliates on matters unrelated
to the offering of the Securities.
EXPERTS
The consolidated financial statements and schedule included in the
Company's Annual Report on Form 10-K for the year ended December 31, 1995,
incorporated by reference in this Prospectus, have been audited by Arthur
Andersen LLP, independent public accountants, as indicated in their report with
respect thereto, and are incorporated by reference herein in reliance upon the
authority of said firm as experts in accounting and auditing in giving said
report.
The letter report of DeGolyer and MacNaughton, independent petroleum
consultants, included as an exhibit to the Company's Annual Report on Form 10-K
for the year ended December 31, 1995, and the estimates from the reports of that
firm appearing in such Annual Report, are incorporated by reference herein on
the authority of said firm as experts in petroleum engineering and in giving
such reports.
18
<PAGE> 20
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 14. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION.
The following table sets forth those expenses to be incurred by the Company
in connection with the issuance and distribution of the securities being
registered. Except for the Securities and Exchange Commission registration fee,
all amounts shown are estimates.
<TABLE>
<S> <C>
Filing Fee for Registration Statement..................................... $ 51,725
Legal Fees and Expenses................................................... 20,000
Accounting Fees and Expenses.............................................. 25,000
Transfer Agent's Fees and Expenses........................................ 15,000
Blue Sky Fees and Expenses................................................ 25,000
Printing and Engraving Expenses........................................... 50,000
Miscellaneous............................................................. 13,275
--------
Total..................................................................... $200,000
========
</TABLE>
ITEM 15. INDEMNIFICATION OF OFFICERS AND DIRECTORS.
The Restated Certificate of Incorporation, as amended, of the Company (the
"Corporation" therein) contains the following provisions relating to
indemnification of directors and officers, namely:
"Eighth: A.1. A director of the Corporation shall not be personally
liable to the Corporation or its stockholders for monetary damages for
breach of fiduciary duty as a director, except for liability (i) for any
breach of the director's duty of loyalty to the Corporation or its
stockholders, (ii) for acts or omissions not in good faith or which involve
intentional misconduct or a knowing violation of law, (iii) under Section
174 of the Delaware General Corporation Law, or (iv) for any transaction
from which the director derived an improper personal benefit.
2. The foregoing provisions of this Article shall not eliminate or
limit the liability of a director for any act or omission occurring prior
to the effective date of this Restated Certificate of Incorporation. Any
repeal or amendment of this Article by the stockholders of the Corporation
shall be prospective only and shall not adversely affect any limitation on
the personal liability of a director of the Corporation existing at the
time of such repeal or amendment. In addition to the circumstances in which
a director of the Corporation is not personally liable as set forth in the
foregoing provisions of this Article, a director shall not be liable to the
fullest extent permitted by any amendment to the Delaware General
Corporation Law enacted that further limits the liability of a director.
B.1. Each person who was or is made a party or is threatened to be
made a party to or is involved in any action, suit or proceeding, whether
civil, criminal, administrative or investigative (hereinafter a
"proceeding"), by reason of the fact that he or she, or a person of whom he
or she is the legal representative, is or was a director or officer, of the
Corporation or is or was serving at the request of the Corporation as a
director, officer, employee or agent of another corporation or of a
partnership, joint venture, trust or other enterprise, including service
with respect to employee benefit plans, whether the basis of such
proceeding is alleged action in an official capacity as a director,
officer, employee or agent or in any other capacity while serving as a
director, officer, employee or agent, shall be indemnified and held
harmless by the Corporation to the fullest extent authorized by the
Delaware General Corporation Law, as the same exists or may hereafter be
amended (but, in the case of any such amendment, only to the extent that
such amendment permits the Corporation to provide broader indemnification
rights than said law permitted the Corporation to provide prior to such
amendment), against all expense, liability and loss (including attorneys'
fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or
to be paid in settlement) reasonably incurred or suffered by such person in
connection therewith, and such indemnification shall continue as to a
person who has ceased to be a director, officer, employee or agent
II-1
<PAGE> 21
and shall inure to the benefit of his or her heirs, executors and
administrators; provided, however, that, except as provided in paragraph 2.
hereof, the Corporation shall indemnify any such person seeking
indemnification in connection with a proceeding (or part thereof) initiated
by such person only if such proceeding (or part thereof) was authorized by
the Board of Directors of the Corporation. The right to indemnification
conferred in this Section shall be a contract right and shall include the
right to be paid by the Corporation the expenses incurred in defending any
such proceeding in advance of its final disposition; provided, however,
that, if the Delaware General Corporation Law requires, the payment of such
expenses incurred by a director or officer in his or her capacity as a
director or officer (and not in any other capacity in which service was or
is rendered by such person while a director or officer, including, without
limitation, service to an employee benefit plan) in advance of the final
disposition of the proceeding, shall be made only upon delivery to the
Corporation of an undertaking, by or on behalf of such director or officer,
to repay all amounts so advanced if it shall ultimately be determined that
such director or officer is not entitled to be indemnified under this
Article or otherwise. The Corporation may, by action of its Board of
Directors, provide indemnification to employees and agents of the
Corporation with the same scope and effect as the foregoing indemnification
of directors and officers.
2. If a claim under paragraph B.1. of this Article is not paid in full
by the Corporation within thirty days after a written claim has been
received by the Corporation, the claimant may at any time thereafter bring
suit against the Corporation to recover the unpaid amount of the claim and,
if successful in whole or in part, the claimant shall be entitled to be
paid also the expense of prosecuting such claim. It shall be a defense to
any such action (other than an action brought to enforce a claim for
expenses incurred in defending any proceeding in advance of its final
disposition where the required undertaking, if any is required, has been
tendered to the Corporation) that the claimant has not met the standards of
conduct which make it permissible under the Delaware General Corporation
Law for the Corporation to indemnify the claimant for the amount claimed,
but the burden of proving such defense shall be on the Corporation. Neither
the failure of the Corporation (including its Board of Directors,
independent legal counsel, or its stockholders) to have made a
determination prior to the commencement of such action that indemnification
of the claimant is proper in the circumstances because he or she has met
the applicable standard of conduct set forth in the Delaware General
Corporation Law, nor an actual determination by the Corporation (including
its Board of Directors, independent legal counsel, or its stockholders)
that the claimant has not met such applicable standard of conduct, shall be
a defense to the action or create a presumption that the claimant has not
met the applicable standard of conduct.
3. The right to indemnification and the payment of expenses incurred
in defending a proceeding in advance of its final disposition conferred in
this Article shall not be exclusive of any other right which any person may
have or hereafter acquire under any statute, provision of the Certificate
of Incorporation, by-law, agreement, vote of stockholders or disinterested
directors or otherwise.
4. The Corporation may maintain insurance, at its expense, to protect
itself and any director, officer, employee or agent of the Corporation or
another corporation, partnership, joint venture, trust or other enterprise
against any such expense, liability or loss, whether or not the Corporation
would have the power to indemnify such person against such expense,
liability or loss under the Delaware General Corporation Law.
5. If this Article or any portion hereof shall be invalidated on any
ground by any court of competent jurisdiction, then the Corporation shall
nevertheless indemnify and hold harmless each director, officer, employee
and agent of the Corporation, and may nevertheless indemnify and hold
harmless each employee and agent of the Corporation, as to costs, charges
and expenses (including attorneys' fees), judgments, fines, and amounts
paid in settlement with respect to any action, suit or proceeding, whether
civil, criminal, administrative or investigative to the full extent
permitted by any applicable portion of this Article that shall not have
been invalidated and to the full extent permitted by applicable law.
6. For purposes of this Article, reference to the "Corporation" shall
include, in addition to the Corporation, any constituent corporation
(including any constituent of a constituent) absorbed in a consolidation or
merger prior to (or, in the case of an entity specifically designated in a
resolution of the
II-2
<PAGE> 22
Board of Directors, after) the adoption hereof and which, if its separate
existence had continued, would have had the power and authority to
indemnify its directors, officers and employees or agents, so that any
person who is or was a director, officer, employee or agent of such
constituent corporation, or is or was serving at the request of such
constituent corporation as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other enterprise,
shall stand in the same position under the provisions of this Article with
respect to the resulting or surviving corporation as he would have with
respect to such constituent corporation if its separate existence had
continued."
The Form of Underwriting Agreement filed as Exhibit 1 hereto, under certain
specified circumstances, provides for indemnification by the Underwriters of the
directors, officers and controlling persons of the Company.
The Company has purchased liability insurance policies covering the
directors and officers of the Company to provide protection where the Company
cannot legally indemnify a director or officer and where a claim arises under
the Employee Retirement Income Security Act of 1974 against a director or
officer based on an alleged breach of fiduciary duty or other wrongful act.
ITEM 16. EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NO. DESCRIPTION
- ---------------------------------------------------------------------------------------------
<S> <C>
*1 -- Form of Underwriting Agreement -- Debt Securities (Exhibit 1 to Form
S-3 Registration Statement No. 33-42640, filed September 6, 1991).
*3(a) -- Restated Certificate of Incorporation of Enron Oil & Gas Company
(Exhibit 3.1 to Form S-1 Registration Statement No. 33-30678, filed
August 24, 1989).
*3(b) -- Certificate of Amendment of Restated Certificate of Incorporation of
Enron Oil & Gas Company (Exhibit 4.1(b) to Form S-8 Registration
Statement No. 33-52201, filed February 8, 1994).
*3(c) -- Certificate of Amendment of Restated Certificate of Incorporation of
Enron Oil & Gas Company (Exhibit 4.1(c) to Form S-8 Registration
Statement No. 33-58103, filed March 15, 1995).
3(d) -- Certificate of Amendment of Restated Certificate of Incorporation of
Enron Oil & Gas Company, dated June 11, 1996.
*3(e) -- Bylaws of Enron Oil & Gas Company (Exhibit 3.2 to Enron Oil & Gas
Company Annual Report on Form 10-K for the year ended December 31,
1995).
*4(a) -- Form of Indenture dated as of September 1, 1991, between Enron Oil &
Gas Company and Texas Commerce Bank National Association (Exhibit
4(a) to Registration Statement No. 33-42640, filed September 6,
1991).
*4(b) -- Form of Debt Security, included in Exhibit 4(a).
*4(c) -- Specimen of Certificate evidencing the Common Stock (Exhibit 3.3 to
Form S-1 Registration Statement No. 33-30678, filed August 24, 1989).
5 -- Opinion of Barry Hunsaker, Jr., Esq., Senior Vice President and
General Counsel of Enron Oil & Gas Company.
12 -- Computation of Ratios of Earnings to Fixed Charges.
23(a) -- Consent of Arthur Andersen LLP.
23(b) -- Consent of DeGolyer and MacNaughton.
23(c) -- The consent of Barry Hunsaker, Jr., Esq. is contained in his opinion
filed as Exhibit 5 hereto.
</TABLE>
II-3
<PAGE> 23
<TABLE>
<CAPTION>
EXHIBIT NO. DESCRIPTION
- ---------------------------------------------------------------------------------------------
<S> <C>
24 -- Powers of Attorney.
25 -- Form T-1 Statement of Eligibility under the Trust Indenture Act of
1939 of Texas Commerce Bank National Association.
</TABLE>
- ------------------
* Incorporated by reference as indicated.
ITEM 17. UNDERTAKINGS
The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to each Registration Statement:
(i) To include any prospectus required in Section 10(a)(3) of the
Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after
the effective date of each Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth
in the Registration Statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated
maximum offering range may be reflected in the form of prospectus filed
with the Commission pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than a 20% change in the
maximum aggregate offering price set forth in the "Calculation of
Registration Fee" table in the effective registration statement;
(iii) To include any material information with respect to the plan
of distribution not previously disclosed in the Registration Statement
or any material change to such information in the Registration
Statement;
provided, however, that paragraphs (1)(i) and (1)(ii) do not apply if the
Registration Statement is on Form S-3, Form S-8 or Form F-3 and the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant
pursuant to section 13 or section 15(d) of the Securities Exchange Act of
1934 that are incorporated by reference in the Registration Statement;
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
(4) That, for purposes of determining any liability under the
Securities Act of 1933, each filing of the Company's annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934
(and, where applicable, each filing of an employee benefit plan's annual
report pursuant to section 15(d) of the Securities Exchange Act of 1934)
that is incorporated by reference in the Registration Statement shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
(5) To deliver or cause to be delivered with the prospectus, to each
person to whom the prospectus is sent or given, the latest annual report to
security holders that is incorporated by reference in the prospectus and
furnished pursuant to and meeting the requirements of Rule 14a-3 or Rule
14c-3 under the Securities Exchange Act of 1934; and, where interim
financial information required to be presented
II-4
<PAGE> 24
by Article 3 of Regulation S-X is not set forth in the prospectus, to
deliver or cause to be delivered to each person to whom the prospectus is
sent or given, the latest quarterly report that is specifically
incorporated by reference in the prospectus to provide such interim
financial information.
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the provisions described under Item 15 above, or
otherwise, the Registrant has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim
for indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act and will
be governed by the final adjudication of such issue.
II-5
<PAGE> 25
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, Enron Oil & Gas
Company certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form S-3 and has duly caused this Registration
Statement or amendment to be signed on its behalf by the undersigned, thereunto
duly authorized in the City of Houston, State of Texas, on the 9th day of
August, 1996.
ENRON OIL & GAS COMPANY
(Registrant)
By: /s/ WALTER C. WILSON
--------------------------------
(Walter C. Wilson)
Senior Vice President and Chief
Financial Officer
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement or amendment has been signed by the following persons in
the capacities with Enron Oil & Gas Company indicated and on the 9th day of
August, 1996.
<TABLE>
<CAPTION>
SIGNATURE TITLE
- --------------------------------------------- ----------------------------------------------
<C> <S>
/s/ FORREST E. HOGLUND Chairman of the Board, President and Chief
------------------------------- Executive Officer and Director
(Forrest E. Hoglund) (Principal Executive Officer)
/s/ WALTER C. WILSON Senior Vice President and Chief Financial
------------------------------- Officer (Principal Financial Officer)
(Walter C. Wilson)
/s/ BEN B. BOYD Vice President and Controller
------------------------------- (Principal Accounting Officer)
(Ben B. Boyd)
FRED C. ACKMAN* Director
-------------------------------
(Fred C. Ackman)
RICHARD D. KINDER* Director
-------------------------------
(Richard D. Kinder)
KENNETH L. LAY* Director
-------------------------------
(Kenneth L. Lay)
EDWARD RANDALL, III* Director
-------------------------------
(Edward Randall, III)
*By /s/ ANGUS H. DAVIS
-------------------------------
(Angus H. Davis)
(Attorney-in-fact for persons indicated)
</TABLE>
II-6
<PAGE> 26
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER DESCRIPTION
- ---------------------------------------------------------------------------------
<S> <C>
*1 -- Form of Underwriting Agreement -- Debt Securities (Exhibit 1 to
Form S-3 Registration Statement No. 33-42640, filed September 6,
1991).
*3(a) -- Restated Certificate of Incorporation of Enron Oil & Gas Company
(Exhibit 3.1 to Form S-1 Registration Statement No. 33-30678, filed
August 24, 1989).
*3(b) -- Certificate of Amendment of Restated Certificate of Incorporation
of Enron Oil & Gas Company (Exhibit 4.1(b) to Form S-8 Registration
Statement No. 33-52201, filed February 8, 1994).
*3(c) -- Certificate of Amendment of Restated Certificate of Incorporation
of Enron Oil & Gas Company (Exhibit 4.1(c) to Form S-8 Registration
Statement No. 33-58103, filed March 15, 1995).
3(d) -- Certificate of Amendment of Restated Certificate of Incorporation
of Enron Oil & Gas Company, dated June 11, 1996.
*3(e) -- Bylaws of Enron Oil & Gas Company (Exhibit 3.2 to Enron Oil & Gas
Company Annual Report on Form 10-K for the year ended December 31,
1995).
*4(a) -- Form of Indenture dated as of September 1, 1991, between Enron Oil
& Gas Company and Texas Commerce Bank National Association (Exhibit
4(a) to Registration Statement No. 33-42640, filed September 6,
1991).
*4(b) -- Form of Debt Security, included in Exhibit 4(a).
*4(c) -- Specimen of Certificate evidencing the Common Stock (Exhibit 3.3 to
Form S-1 Registration Statement No. 33-30678, filed August 24,
1989).
5 -- Opinion of Barry Hunsaker, Jr., Esq., Senior Vice President and
General Counsel of Enron Oil & Gas Company.
12 -- Computation of Ratios of Earnings to Fixed Charges.
23(a) -- Consent of Arthur Andersen LLP.
23(b) -- Consent of DeGolyer and MacNaughton.
23(c) -- The consent of Barry Hunsaker, Jr., Esq. is contained in his
opinion filed as Exhibit 5 hereto.
24 -- Powers of Attorney.
25 -- Form T-1 Statement of Eligibility under the Trust Indenture Act of
1939 of Texas Commerce Bank National Association.
</TABLE>
- ---------------
* Incorporated by reference as indicated.
<PAGE> 1
EXHIBIT 3(d)
CERTIFICATE OF AMENDMENT
OF
RESTATED CERTIFICATE OF INCORPORATION
OF
ENRON OIL & GAS COMPANY
Enron Oil & Gas Company, a corporation organized and existing under the
General Corporation Law of the State of Delaware (the "Company"), does hereby
certify that:
The amendment to the Company's Restated Certificate of Incorporation
set forth in the following resolution approved by the Company's Board of
Directors and stockholders was duly adopted in accordance with the provisions
of Section 242 of the General Corporation Law of the State of Delaware:
"RESOLVED, that the Restated Certificate of Incorporation of the
Company is hereby amended by deleting Paragraph A of Article Fourth thereof in
its entirety and substituting the following therefor:
"FOURTH: A. The total number of shares of all classes of stock
that the Corporation shall have authority to issue is Three
Hundred Twenty Million (320,000,000) shares of Common Stock,
par value $.01 per share (hereinafter referred to as "Common
Stock")."
IN WITNESS WHEREOF, Enron Oil & Gas Company has caused this Certificate
to be signed and attested by its duly authorized officers, this 11th day of
June, 1996.
ENRON OIL & GAS COMPANY ATTEST:
By: /s/ FORREST E. HOGLAND By: /s/ A. HARDIE DAVIS
---------------------------------- ----------------------------------
Forrest E. Hogland A. Hardie Davis
Chairman, President Vice President, Communications
and Chief Executive Officer and Corporate Secretary
<PAGE> 1
EXHIBIT 5
August 9, 1996
Enron Oil & Gas Company
1400 Smith Street
Houston, Texas 77002
Gentlemen:
As Senior Vice President and General Counsel of Enron Oil & Gas
Company, a Delaware corporation (the "Company"), I am familiar with its
Registration Statement No. 33-42620 on Form S-3 declared effective by the
Securities and Exchange Commission (the "Commission") on September 27, 1991,
and the Registration Statement on Form S-3 currently being filed with the
Commission (collectively, the "Registration Statement") relating to the
proposed offering from time to time of (i) up to an aggregate amount of $400
million of Company Debt Securities and/or Common Stock, par value $.01 per
share (the Debt Securities and Common Stock collectively referred to herein as
the "Securities"). In connection therewith, I have examined, among other
things, a copy of the Restated Certificate of Incorporation and Bylaws of the
Company, the corporate proceedings taken to date with respect to the
authorization, issuance and sale of the Securities, a copy of the Indenture
dated as of September 1, 1991 (the "Indenture") between the Company and Texas
Commerce Bank National Association, as Trustee, and I have performed such other
investigations as I have considered appropriate as the basis for the opinions
expressed herein. Capitalized terms used but not defined herein are used as
defined in the Registration Statement.
Based on the foregoing, I am of the opinion that:
(1) The Company is a corporation duly organized, validly existing
and in good standing under the laws of the State of Delaware.
(2) The Debt Securities of the Company have been validly
authorized for issuance, and (subject to the Registration Statement becoming
effective and any applicable state securities or Blue Sky laws being complied
with), when the terms thereof and of their issue and sale have been duly
established, upon issuance and delivery thereof as set forth in the
Registration Statement, and upon receipt by the Company of the purchase price
thereof, the Debt Securities will be validly issued and will be binding
obligations of the Company.
(3) The issuance of the Common Stock to be issued by the Company
has been duly authorized, and (subject to the Registration Statement becoming
effective and applicable Blue sky laws being complied with), when the terms of
their issue and sale have been duly established, upon the issuance and delivery
thereof as set forth in the Registration Statement, and upon the receipt by the
Company of the purchase price thereof, the Common Stock will be validly issued,
fully paid and nonassessable.
<PAGE> 2
(4) The shares of Common Stock to be sold by the Selling
Stockholder are, and upon sale will be, validly issued, fully paid, and
nonassessable.
I am a member of the bar of the State of Texas. The opinion set forth
above is limited in all respects to the laws of the State of Texas, the General
Corporation Law of the State of Delaware and federal law.
I hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the references to me under the caption "Validity
of Securities" in the Prospectus constituting part of the Registration
Statement and to the filing of this opinion as an exhibit thereto. By giving
such consent I do not admit that I am an expert with respect to any part of the
Registration Statement, including this exhibit, within the meaning of the term
"expert" as used in the Securities Act of 1933, as amended, or the rules and
regulations of the Securities and Exchange Commission issued thereunder.
Very truly yours,
BARRY HUNSAKER, JR.
<PAGE> 1
EXHIBIT 12
ENRON OIL & GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands)
(Unaudited)
<TABLE>
<CAPTION>
Six Months Year Ended December 31,
Ended ------------------------------------------------------------
6/30/96 1995 1994 1993 1992 1991
---------- ------- -------- -------- -------- --------
<S> <C> <C> <C> <C> <C> <C>
Earnings Available for Fixed Charges:
Net Income $73,505 $142,118 $147,998 $138,025 $ 97,580 $ 47,916
Less:
Capitalized Interest Expense (2,747) (6,490) (6,124) (5,457) (3,580) (4,482)
Add:
Fixed Charges 10,194 18,414 14,613 15,378 25,869 33,982
Income Tax Provision (Benefit) 24,165 41,936 5,937 (25,752) (17,736) (2,247)
-------- -------- -------- -------- -------- --------
Earnings Available $105,117 $195,978 $162,424 $122,194 $102,133 $ 75,169
======== ======== ======== ======== ======== ========
Fixed Charges
Interest Expense 7,184 11,300 8,135 9,921 22,289 29,500
Capitalized Interest 2,747 6,490 6,124 5,457 3,580 4,482
Rental Expense Representative of
Interest Factor 263 614 357 - - -
-------- -------- -------- -------- -------- --------
Total Fixed Charges $ 10,194 $ 18,414 $ 14,613 $ 15,378 $ 25,869 $ 33,982
======== ======== ======== ======== ======== ========
Ratio of Earnings to Fixed Charges 10.31 10.64 11.12 7.95 3.95 2.21
======== ======== ======== ======== ======== ========
</TABLE>
<PAGE> 1
EXHIBIT 23(a)
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference in this registration statement of our report on the consolidated
financial statements of Enron Oil & Gas Company and subsidiaries dated
February 16, 1996, included in Enron Oil & Gas Company's Form 10-K for the
year ended December 31, 1995, and to all references to our Firm included in this
registration statement.
ARTHUR ANDERSEN LLP
Houston, Texas
August 9, 1996
<PAGE> 1
EXHIBIT 23.b
[DEGOLYER AND MACNAUGHTON LETTERHEAD]
August 8, 1996
Enron Oil & Gas Company
1400 Smith Street
Houston, Texas 77002
Gentlemen:
In connection with Enron Oil & Gas Company's (the Company) Registration
Statement on Form S-3 registering the sale of Common Stock and Debt Securities
of the Company to be filed with the Securities and Exchange Commission on or
about August 9, 1996, we hereby consent to the incorporation by reference in
said Registration Statement of the references to our firm and to our opinions
delivered to the Company regarding our comparison of estimates prepared by us
to those furnished to us by the Company of proved oil, condensate, natural gas
liquids, and natural gas reserves of certain selected properties owned by the
Company expressed in our letter reports dated January 27, 1994, January 13,
1995, and January 22, 1996, for estimates as of January 1, 1994, January 1,
1995, and December 31, 1995, respectively, which are included in the section
"Supplemental Information to Consolidated Financial Statements - Oil and Gas
Producing Activities" in the Company's Annual Report on Form 10-K for the year
ended December 31, 1995. We also consent to the references to us in the
section "Experts" in the Prospectus that is a part of the Registration
Statement.
Very truly yours,
/s/ DEGOLYER AND MACNAUGHTON
DeGOLYER and MacNAUGHTON
<PAGE> 1
EXHIBIT 24
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that in connection with the proposed
registration by Enron Oil & Gas Company, a Delaware corporation (the
"Company"), of Debt Securities and Common Stock, $.01 par value, in connection
with the proposed sale of such Debt Securities by the Company and Common Stock
by the Company and/or Enron Corp. as a "Selling Stockholder" of the Company,
the undersigned officer or director of the Company hereby constitutes and
appoints Walter C. Wilson, Barry Hunsaker, Jr., and Angus H. Davis, and each of
them (with full power to each of them to act alone), his true and lawful
attorney-in-fact and agent, for him and on his behalf and in his name, place
and stead, in any and all capacities, to sign, execute and file a registration
statement on Form S-3 relating to such securities to be filed with the
Securities and Exchange Commission, together with all amendments thereto, with
all exhibits and any and all documents required to be filed with respect
thereto with any regulatory authority, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises in order to
effectuate the same as fully to all intents and purposes as the undersigned
might or could do if personally present, hereby ratifying and confirming all
the said attorneys-in-fact and agents, or any of them, may lawfully do or cause
to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereto set his hand
this 9th day of August, 1996.
/s/ KENNETH L. LAY
-------------------------------------
Kenneth L. Lay
<PAGE> 2
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that in connection with the proposed
registration by Enron Oil & Gas Company, a Delaware corporation (the
"Company"), of Debt Securities and Common Stock, $.01 par value, in connection
with the proposed sale of such Debt Securities by the Company and Common Stock
by the Company and/or Enron Corp. as a "Selling Stockholder" of the Company,
the undersigned officer or director of the Company hereby constitutes and
appoints Walter C. Wilson, Barry Hunsaker, Jr., and Angus H. Davis, and each of
them (with full power to each of them to act alone), his true and lawful
attorney-in-fact and agent, for him and on his behalf and in his name, place
and stead, in any and all capacities, to sign, execute and file a registration
statement on Form S-3 relating to such securities to be filed with the
Securities and Exchange Commission, together with all amendments thereto, with
all exhibits and any and all documents required to be filed with respect
thereto with any regulatory authority, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises in order to
effectuate the same as fully to all intents and purposes as the undersigned
might or could do if personally present, hereby ratifying and confirming all
the said attorneys-in-fact and agents, or any of them, may lawfully do or cause
to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereto set his hand
this 9th day of August, 1996.
/s/ RICHARD D. KINDER
------------------------------------
Richard D. Kinder
<PAGE> 3
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that in connection with the proposed
registration by Enron Oil & Gas Company, a Delaware corporation (the
"Company"), of Debt Securities and Common Stock, $.01 par value, in connection
with the proposed sale of such Debt Securities by the Company and Common Stock
by the Company and/or Enron Corp. as a "Selling Stockholder" of the Company,
the undersigned officer or director of the Company hereby constitutes and
appoints Walter C. Wilson, Barry Hunsaker, Jr., and Angus H. Davis, and each of
them (with full power to each of them to act alone), his true and lawful
attorney-in-fact and agent, for him and on his behalf and in his name, place
and stead, in any and all capacities, to sign, execute and file a registration
statement on Form S-3 relating to such securities to be filed with the
Securities and Exchange Commission, together with all amendments thereto, with
all exhibits and any and all documents required to be filed with respect
thereto with any regulatory authority, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises in order to
effectuate the same as fully to all intents and purposes as the undersigned
might or could do if personally present, hereby ratifying and confirming all
the said attorneys-in-fact and agents, or any of them, may lawfully do or cause
to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereto set his hand
this 9th day of August, 1996.
/s/ FORREST E. HOGLUND
------------------------------------
Forrest E. Hoglund
<PAGE> 4
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that in connection with the proposed
registration by Enron Oil & Gas Company, a Delaware corporation (the
"Company"), of Debt Securities and Common Stock, $.01 par value, in connection
with the proposed sale of such Debt Securities by the Company and Common Stock
by the Company and/or Enron Corp. as a "Selling Stockholder" of the Company,
the undersigned officer or director of the Company hereby constitutes and
appoints Walter C. Wilson, Barry Hunsaker, Jr., and Angus H. Davis, and each of
them (with full power to each of them to act alone), his true and lawful
attorney-in-fact and agent, for him and on his behalf and in his name, place
and stead, in any and all capacities, to sign, execute and file a registration
statement on Form S-3 relating to such securities to be filed with the
Securities and Exchange Commission, together with all amendments thereto, with
all exhibits and any and all documents required to be filed with respect
thereto with any regulatory authority, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises in order to
effectuate the same as fully to all intents and purposes as the undersigned
might or could do if personally present, hereby ratifying and confirming all
the said attorneys-in-fact and agents, or any of them, may lawfully do or cause
to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereto set his hand
this 9th day of August, 1996.
/s/ FRED C. ACKMAN
------------------------------------
Fred C. Ackman
<PAGE> 5
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that in connection with the proposed
registration by Enron Oil & Gas Company, a Delaware corporation (the
"Company"), of Debt Securities and Common Stock, $.01 par value, in connection
with the proposed sale of such Debt Securities by the Company and Common Stock
by the Company and/or Enron Corp. as a "Selling Stockholder" of the Company,
the undersigned officer or director of the Company hereby constitutes and
appoints Walter C. Wilson, Barry Hunsaker, Jr., and Angus H. Davis, and each of
them (with full power to each of them to act alone), his true and lawful
attorney-in-fact and agent, for him and on his behalf and in his name, place
and stead, in any and all capacities, to sign, execute and file a registration
statement on Form S-3 relating to such securities to be filed with the
Securities and Exchange Commission, together with all amendments thereto, with
all exhibits and any and all documents required to be filed with respect
thereto with any regulatory authority, granting unto said attorneys, and each
of them, full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the premises in order to
effectuate the same as fully to all intents and purposes as the undersigned
might or could do if personally present, hereby ratifying and confirming all
the said attorneys-in-fact and agents, or any of them, may lawfully do or cause
to be done by virtue hereof.
IN WITNESS WHEREOF, the undersigned has hereto set his hand this
9th day of August, 1996.
/s/ EDWARD RANDALL, III
------------------------------------
Edward Randall, III
<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE
TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY
OF A TRUSTEE PURSUANT TO SECTION 305(B)(2)____
TEXAS COMMERCE BANK NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
A NATIONAL BANKING ASSOCIATION 74-0800980
(State of Incorporation if not a U.S. (I.R.S. Employer
national bank) Identification No.)
712 MAIN STREET
HOUSTON, TEXAS 77002
(Address of principal executive (Zip Code)
offices)
________________
ENRON OIL & GAS COMPANY
(Exact name of obligor as specified in its charter)
DELAWARE 47-0684736
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1400 SMITH STREET
HOUSTON, TEXAS 77002
(Address of principal executive (Zip Code)
offices)
____________________
ENRON OIL & GAS COMPANY DEBT
SECURITIES
(Title of the indenture
securities)
================================================================================
<PAGE> 2
ITEM 1. GENERAL INFORMATION.
FURNISH THE FOLLOWING INFORMATION AS TO THE TRUSTEE:
(A) NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISING
AUTHORITY TO WHICH IT IS SUBJECT.
Comptroller of the Currency, Washington, D.C.
Federal Deposit Insurance Corporation, Washington,
D.C.
Board of Governors of The Federal Reserve System,
Washington, D.C.
(B) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST
POWERS.
Yes.
ITEM 2. AFFILIATIONS WITH THE OBLIGOR.
IF THE OBLIGOR IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE EACH
SUCH AFFILIATION.
The obligor is not an affiliate of the trustee. (See Note on
Page 6.)
ITEM 3. VOTING SECURITIES OF THE TRUSTEE.
FURNISH THE FOLLOWING INFORMATION AS TO EACH CLASS OF VOTING
SECURITIES OF THE TRUSTEE:
<TABLE>
<CAPTION>
COL. A COL. B
TITLE OF CLASS AMOUNT OUTSTANDING
-------------- ------------------
<S> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 4. TRUSTEESHIPS UNDER OTHER INDENTURES.
IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE UNDER
WHICH ANY OTHER SECURITIES, OR CERTIFICATES OF INTEREST OR PARTICIPATION IN ANY
OTHER SECURITIES, OF THE OBLIGOR ARE OUTSTANDING, FURNISH THE FOLLOWING
INFORMATION:
(A) TITLE OF THE SECURITIES OUTSTANDING UNDER EACH SUCH
OTHER INDENTURE.
Not applicable by virtue of Form T-1 General Instruction B and
response to Item 13.
(B) A BRIEF STATEMENT OF THE FACTS RELIED UPON AS A BASIS
FOR THE CLAIM THAT NO CONFLICTING INTEREST WITHIN THE MEANING OF
SECTION 310(B)(1) OF THE ACT ARISES AS A RESULT OF THE TRUSTEESHIP
UNDER ANY SUCH OTHER INDENTURE, INCLUDING A STATEMENT AS TO HOW THE
INDENTURE SECURITIES WILL RANK AS COMPARED WITH THE SECURITIES ISSUED
UNDER SUCH OTHER INDENTURE.
Not applicable by virtue of Form T-1 General Instruction B and
response to Item 13.
2
<PAGE> 3
ITEM 5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR
OR UNDERWRITERS.
IF THE TRUSTEE OR ANY OF THE DIRECTORS OR EXECUTIVE OFFICERS
OF THE TRUSTEE IS A DIRECTOR, OFFICER, PARTNER, EMPLOYEE, APPOINTEE OR
REPRESENTATIVE OF THE OBLIGOR OR OF ANY UNDERWRITER FOR THE OBLIGOR, IDENTIFY
EACH SUCH PERSON HAVING ANY SUCH CONNECTION AND STATE THE NATURE OF EACH SUCH
CONNECTION.
Not applicable by virtue of Form T-1 General Instruction B and
response to Item 13.
ITEM 6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS
OFFICIALS.
FURNISH THE FOLLOWING INFORMATION AS TO THE VOTING SECURITIES
OF THE TRUSTEE OWNED BENEFICIALLY BY THE OBLIGOR AND EACH DIRECTOR, PARTNER AND
EXECUTIVE OFFICER OF THE OBLIGOR.
<TABLE>
<CAPTION>
COL. A COL. B COL. C COL. D
PERCENTAGE OF
VOTING SECURITIES
REPRESENTED BY
AMOUNT OWNED AMOUNT GIVEN
NAME OF OWNER TITLE OF CLASS BENEFICIALLY IN COL. C
------------- -------------- ------------ ---------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR
OFFICIALS.
FURNISH THE FOLLOWING INFORMATION AS TO THE VOTING SECURITIES
OF THE TRUSTEE OWNED BENEFICIALLY BY EACH UNDERWRITER FOR THE OBLIGOR AND EACH
DIRECTOR, PARTNER AND EXECUTIVE OFFICER OF EACH SUCH UNDERWRITER.
<TABLE>
<CAPTION>
Col. A Col. B Col. C Col. D
Percent of
voting securities
represented by
Amount owned amount given
Name of owner Title of class beneficially in Col. C
------------- -------------- ------------ -----------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE.
FURNISH THE FOLLOWING INFORMATION AS TO SECURITIES OF THE
OBLIGOR OWNED BENEFICIALLY OR HELD AS COLLATERAL SECURITY FOR OBLIGATIONS IN
DEFAULT BY THE TRUSTEE.
3
<PAGE> 4
<TABLE>
<CAPTION>
COL. A COL. B COL. C COL. D
WHETHER THE AMOUNT OWNED
SECURITIES BENEFICIALLY OR HELD PERCENT OF CLASS
ARE VOTING AS COLLATERAL SECURITY REPRESENTED BY
OR NONVOTING FOR OBLIGATIONS AMOUNT GIVEN
TITLE OF CLASS SECURITIES IN DEFAULT IN COL. C
-------------- ------------ ---------------------- ----------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE.
IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL
SECURITY FOR OBLIGATIONS IN DEFAULT ANY SECURITIES OF AN UNDERWRITER FOR THE
OBLIGOR, FURNISH THE FOLLOWING INFORMATION AS TO EACH CLASS OF SECURITIES OF
SUCH UNDERWRITER ANY OF WHICH ARE SO OWNED OR HELD BY THE TRUSTEE.
<TABLE>
<CAPTION>
COL. A COL. B COL. C COL. D
AMOUNT OWNED
BENEFICIALLY OR HELD PERCENT OF CLASS
AS COLLATERAL SECURITY REPRESENTED BY
NAME OF ISSUER AND AMOUNT FOR OBLIGATIONS IN AMOUNT GIVEN
TITLE OF CLASS OUTSTANDING DEFAULT BY TRUSTEE IN COL. C
------------------ ----------- ---------------------- ----------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF
CERTAIN AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR.
IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL
SECURITY FOR OBLIGATIONS IN DEFAULT VOTING SECURITIES OF A PERSON WHO, TO THE
KNOWLEDGE OF THE TRUSTEE (1) OWNS 10 PERCENT OR MORE OF THE VOTING SECURITIES
OF THE OBLIGOR OR (2) IS AN AFFILIATE, OTHER THAN A SUBSIDIARY, OF THE OBLIGOR,
FURNISH THE FOLLOWING INFORMATION AS TO THE VOTING SECURITIES OF SUCH PERSON:
<TABLE>
<CAPTION>
COL. A COL. B COL. C COL. D
AMOUNT OWNED
BENEFICIALLY OR HELD PERCENT OF CLASS
AS COLLATERAL SECURITY REPRESENTED BY
NAME OF ISSUER AND AMOUNT FOR OBLIGATIONS IN AMOUNT GIVEN
TITLE OF CLASS OUTSTANDING DEFAULT BY TRUSTEE IN COL. C
------------------ ----------- ---------------------- ----------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
4
<PAGE> 5
ITEM 11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A
PERSON OWNING 50 PERCENT OR MORE OF THE VOTING SECURITIES OF
THE OBLIGOR.
IF THE TRUSTEE OWNS BENEFICIALLY OR HOLDS AS COLLATERAL
SECURITY FOR OBLIGATIONS IN DEFAULT ANY SECURITIES OF A PERSON WHO, TO THE
KNOWLEDGE OF THE TRUSTEE, OWNS 50 PERCENT OR MORE OF THE VOTING SECURITIES OF
THE OBLIGOR, FURNISH THE FOLLOWING INFORMATION AS TO EACH CLASS OF SECURITIES
OF SUCH PERSON ANY OF WHICH ARE SO OWNED OR HELD BY THE TRUSTEE.
<TABLE>
<CAPTION>
COL. A COL. B COL. C COL. D
AMOUNT OWNED
BENEFICIALLY OR HELD PERCENT OF CLASS
AS COLLATERAL SECURITY REPRESENTED BY
NAME OF ISSUER AND AMOUNT FOR OBLIGATIONS IN AMOUNT GIVEN
TITLE OF CLASS OUTSTANDING DEFAULT BY TRUSTEE IN COL. C
------------------ ----------- ---------------------- ----------------
<S> <C> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE.
EXCEPT AS NOTED IN THE INSTRUCTIONS, IF THE OBLIGOR IS
INDEBTED TO THE TRUSTEE, FURNISH THE FOLLOWING INFORMATION:
<TABLE>
<CAPTION>
COL. A COL. B COL. C
NATURE OF AMOUNT
INDEBTEDNESS OUTSTANDING DATE DUE
------------ ------------ --------
<S> <C> <C>
Not applicable by virtue of Form T-1 General Instruction B and response to Item 13.
</TABLE>
ITEM 13. DEFAULTS BY THE OBLIGOR.
(A) STATE WHETHER THERE IS OR HAS BEEN A DEFAULT WITH
RESPECT TO THE SECURITIES UNDER THIS INDENTURE. EXPLAIN THE NATURE OF ANY SUCH
DEFAULT.
There is not, nor has there been, a default with respect to
the securities under this indenture. (See Note on Page 6.)
(B) IF THE TRUSTEE IS A TRUSTEE UNDER ANOTHER INDENTURE
UNDER WHICH ANY OTHER SECURITIES, OR CERTIFICATES OF INTEREST OR PARTICIPATION
IN ANY OTHER SECURITIES, OF THE OBLIGOR ARE OUTSTANDING, OR IS TRUSTEE FOR MORE
THAN ONE OUTSTANDING SERIES OF SECURITIES UNDER THE INDENTURE, STATE WHETHER
THERE HAS BEEN A DEFAULT UNDER ANY SUCH INDENTURE OR SERIES, IDENTIFY THE
INDENTURE OR SERIES AFFECTED, AND EXPLAIN THE NATURE OF ANY SUCH DEFAULT.
There has not been a default under any such indenture or
series. (See Note on Page 6.)
ITEM 14. AFFILIATIONS WITH THE UNDERWRITERS.
IF ANY UNDERWRITER IS AN AFFILIATE OF THE TRUSTEE, DESCRIBE
EACH SUCH AFFILIATION.
5
<PAGE> 6
Not applicable by virtue of Form T-1 General Instruction B and
response to Item 13.
ITEM 15. FOREIGN TRUSTEE.
IDENTIFY THE ORDER OR RULE PURSUANT TO WHICH THE FOREIGN
TRUSTEE IS AUTHORIZED TO ACT AS SOLE TRUSTEE UNDER INDENTURES QUALIFIED OR TO
BE QUALIFIED UNDER THE ACT.
Not applicable.
ITEM 16. LIST OF EXHIBITS.
LIST BELOW ALL EXHIBITS FILED AS A PART OF THIS STATEMENT OF
ELIGIBILITY.
<TABLE>
<S> <C> <C>
o1 -- A copy of the articles of association of the trustee as now in effect.
#2 -- A copy of the certificate of authority of the trustee to commence business.
*3 -- A copy of the authorization of the trustee to exercise corporate trust powers.
[ ]4 -- A copy of the existing by-laws of the trustee.
5 -- Not applicable.
6 -- The consent of the trustee required by Section 321(b) of the Act.
7 -- A copy of the latest report of condition of the trustee published pursuant to law or the
requirements of its supervising or examining authority.
8 -- Not applicable.
9 -- Not applicable.
------------
o Incorporated by reference to exhibit bearing the same designation and previously filed with the
Securities and Exchange Commission as an exhibit to the Form S-3 File No. 33-56195.
# Incorporated by reference to exhibit bearing the same designation and previously filed with the
Securities and Exchange Commission as an exhibit to the Form S-3 File No. 33-42814.
* Incorporated by reference to exhibit bearing the same designation and previously filed with the
Securities and Exchange Commission as an exhibit to the Form S-11 File No. 33-25132.
[ ] Incorporated by reference to exhibit bearing the same designation and previously filed with the
Securities and Exchange Commission as an exhibit to the Form S-3 File No. 33-65055.
</TABLE>
------------
NOTE
Inasmuch as this Form T-1 is filed prior to the ascertainment of all
facts on which to base responsive answers to Items 2 and 13, the answers to
said Items are based on incomplete information. Such items may, however, be
considered as correct unless amended by an amendment to this Form T-1.
6
<PAGE> 7
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE TRUST INDENTURE ACT OF
1939, THE TRUSTEE, TEXAS COMMERCE BANK NATIONAL ASSOCIATION, A NATIONAL BANKING
ASSOCIATION ORGANIZED AND EXISTING UNDER THE LAWS OF THE UNITED STATES OF
AMERICA, HAS DULY CAUSED THIS STATEMENT OF ELIGIBILITY TO BE SIGNED ON ITS
BEHALF BY THE UNDERSIGNED, THEREUNTO DULY AUTHORIZED, ALL IN THE CITY OF
HOUSTON AND STATE OF TEXAS, ON THE 9TH DAY OF AUGUST, 1996.
TEXAS COMMERCE BANK
NATIONAL ASSOCIATION
By: /s/ Wayne Mentz
----------------------------------
Wayne Mentz
Assistant Vice President and Trust
Officer
7
<PAGE> 8
Exhibit 6
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture
Act of 1939 in connection with the proposed issue of Enron Oil & Gas Company
Debt Securities, we hereby consent that reports of examinations by Federal,
State, Territorial or District authorities may be furnished by such authorities
to the Securities and Exchange Commission upon request therefor.
TEXAS COMMERCE BANK NATIONAL ASSOCIATION
By: /s/ Wayne Mentz
-----------------------------------
Wayne Mentz
Assistant Vice President and Trust
Officer
Dated: August 9, 1996
<PAGE> 9
EXHIBIT 7
Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-0052
Office of the Comptroller of the Currency
OMB Number: 1557-0081
Expires March 31, 1999
FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL
- --------------------------------------------------------------------------------
[LOGO] Please refer to page 1, [1]
Table of Contents, for
the required disclosure
of estimated burden.
- --------------------------------------------------------------------------------
CONSOLIDATED REPORTS OF CONDITION AND INCOME FOR
A BANK WITH DOMESTIC AND FOREIGN OFFICES -- FFIEC 031
(960630)
REPORT AT THE CLOSE OF BUSINESS JUNE 30, 1996 ------------
(RCRI 9999)
This report is required by law: 12 U.S.C. Section 324 (State member banks); 12
U.S.C. Section 1817 (State nonmember banks); and 12 U.S.C. Section 161
(National banks).
This report form is to be filed by banks with branches and consolidated
subsidiaries in U.S. territories and possessions, Edge or Agreement
subsidiaries, foreign branches, consolidated foreign subsidiaries, or
International Banking Facilities.
- --------------------------------------------------------------------------------
NOTE: The Reports of Condition and Income must be signed by an authorized
officer and the Report of Condition must be attested to by not less than two
directors (trustees) for State nonmember banks and three directors for State
member and National banks.
I, Kenneth L. Tilton, Executive Vice President
-------------------------------------------
Name and Title of Officer Authorized to Sign Report
of the named bank do hereby declare that these Reports of Condition and Income
(including the supporting schedules) have been prepared in conformance with the
instructions issued by the appropriate Federal regulatory authority and are
true to the best of my knowledge and belief.
Kenneth L. Tilton
- ----------------------------------------------
Signature of Officer Authorized to Sign Report
July 31, 1996
- ----------------------------------------------
Date of Signature
The Reports of Condition and Income are to be prepared in accordance with
Federal regulatory authority instructions. NOTE: These instructions may in some
cases differ from generally accepted accounting principles.
We, the undersigned directors (trustees), attest to the correctness of this
Report of Condition (including the supporting schedules) and declare that it
has been examined by us and to the best of our knowledge and belief has been
prepared in conformance with the instructions issued by the appropriate Federal
regulatory authority and is true and correct.
/s/ ALAN R. BUCKWALTER
- ----------------------------------------------
Director (Trustee)
/s/ [ILLEGIBLE]
- ----------------------------------------------
Director (Trustee)
/s/ MARK SHAPIRO
- ----------------------------------------------
Director (Trustee)
- --------------------------------------------------------------------------------
For Banks Submitting Hard Copy Report Forms:
State Member Banks: Return the original and one copy to the appropriate Federal
Reserve District Bank.
State Nonmember Banks: Return the original only in the special return address
envelope provided. If express mail is used in lieu of the special return
address envelope, return the original only to the FDIC, c/o Quality Data
Systems, 2127 Espey Court, Suite 204, Crofton, MD 21114.
National Banks: Return the original only in the special return address envelope
provided. If express mail is used in lieu of the special return address
envelope, return the original only to the FDIC, c/o Quality Data Systems, 2127
Espey Court, Suite 204, Crofton, MD 21114.
03263
FDIC Certificate Number -----------
(RCRI 9060)
CALL NO. 196 31 6-30-96
STBK: 48-3926 00373 STCERT: 48-03263
TEXAS COMMERCE BANK NATIONAL ASSOCIA
712 MAIN STREET
HOUSTON, TX 77001
<PAGE> 10
FFIEC 031
PAGE i
[2]
CONSOLIDATED REPORTS OF CONDITION AND INCOME FOR
A BANK WITH DOMESTIC AND FOREIGN OFFICES
- -------------------------------------------------------------------------------
TABLE OF CONTENTS
SIGNATURE PAGE COVER
REPORT OF INCOME
Schedule RI - Income Statement ..................................... RI-1, 2, 3
Schedule RI-A - Changes in Equity Capital ................................ RI-4
Schedule RI-B - Charge-offs and Recoveries and Changes in Allowance
for Loan and Lease Losses ........................................... RI-4, 5
Schedule RI-C - Applicable Income Taxes by Taxing Authority .............. RI-5
Schedule RI-D - Income from International Operations ..................... RI-6
Schedule RI-E - Explanations .......................................... RI-7, 8
DISCLOSURE OF ESTIMATED BURDEN
The estimated average burden associated with this information collection is
32.2 hours per respondent and is estimated to vary from 15 to 230 hours per
response, depending on individual circumstances. Burden estimates include the
time for reviewing instructions, gathering and maintaining data in the required
form, and completing the information collection, but exclude the time for
compiling and maintaining business records in the normal course of a
respondent's activities. Comments concerning the accuracy of this burden
estimate and suggestions for reducing this burden should be directed to the
Office of Information and Regulatory Affairs, Office of Management and Budget,
Washington, D.C. 20503, and to one of the following:
SECRETARY
Board of Governors of the Federal Reserve System
Washington, D.C. 20551
LEGISLATIVE AND REGULATORY ANALYSIS DIVISION
Office of the Comptroller of the Currency
Washington, D.C. 20219
ASSISTANT EXECUTIVE SECRETARY
Federal Deposit Insurance Corporation
Washington, D.C. 20429
REPORT OF CONDITION
Schedule RC - Balance Sheet ........................................... RC-1, 2
Schedule RC-A - Cash and Balances Due From Depository Institutions ....... RC-3
Schedule RC-B - Securities ......................................... RC-3, 4, 5
Schedule RC-C - Loans and Lease Financing Receivables:
Part I. Loans and Leases ........................................... RC-6, 7
Part II. Loans to Small Businesses and Small Farms (included in
the forms for June 30 only) ............................ RC-7a, 7b
Schedule RC-D - Trading Assets and Liabilities (to be completed
only by selected banks) ................................ RC-8
Schedule RC-E - Deposit Liabilities .............................. RC-9, 10, 11
Schedule RC-F - Other Assets ............................................ RC-11
Schedule RC-G - Other Liabilities ....................................... RC-11
Schedule RC-H - Selected Balance Sheet Items for Domestic Offices ....... RC-12
Schedule RC-I - Selected Assets and Liabilities of IBFs ................. RC-13
Schedule RC-K - Quarterly Averages ...................................... RC-13
Schedule RC-L - Off-Balance Sheet Items ......................... RC-14, 15, 16
Schedule RC-M - Memoranda ........................................... RC-17, 18
Schedule RC-N - Past Due and Nonaccrual Loans, Leases,
and Other Assets .................................. RC-19, 20
Schedule RC-O - Other Data for Deposit Insurance Assessments ........ RC-21, 22
Schedule RC-R - Regulatory Capital .................................. RC-23, 24
Optional Narrative Statement Concerning the Amounts Reported in
the Reports of Condition and Income .................................... RC-25
Special Report (TO BE COMPLETED BY ALL BANKS)
Schedule RC-J - Repricing Opportunities (sent only to and to be completed
only by savings banks)
For information or assistance, National and State nonmember banks should
contact the FDIC's Call Reports Analysis Unit, 550 17th Street, NW, Washington,
D.C. 20429, toll free on (800) 688-FDIC(3342), Monday through Friday between
8:00 a.m. and 5:00 m.m., Eastern time. State member banks should contact their
Federal Reserve District Bank.
<PAGE> 11
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-1
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Consolidated Report of Income for the period January 1, 1996-June 30, 1996
All Report of Income schedules are to be reported on a calendar year-to-date basis in thousands of dollars.
Schedule RI--Income Statement
----------
| I480 | (-
------------ --------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- ----------------------------------------------------------------------------------------------- --------------------
1. Interest income: | ////////////////// |
a. Interest and fee income on loans: | ////////////////// |
(1) In domestic offices: | ////////////////// |
(a) Loans secured by real estate ................................................... | 4011 107,276 | 1.a.(1)(a)
(b) Loans to depository institutions ............................................... | 4019 1,488 | 1.a.(1)(b)
(c) Loans to finance agricultural production and other loans to farmers ............ | 4024 2,430 | 1.a.(1)(c)
(d) Commercial and industrial loans ................................................ | 4012 215,606 | 1.a.(1)(d)
(e) Acceptances of other banks ..................................................... | 4026 0 | 1.a.(1)(e)
(f) Loans to individuals for household, family, and other personal expenditures: | ////////////////// |
(1) Credit cards and related plans ............................................. | 4054 8,181 | 1.a.(1)(f)(1)
(2) Other ...................................................................... | 4055 93,852 | 1.a.(1)(f)(2)
(g) Loans to foreign governments and official institutions ......................... | 4056 5,601 | 1.a.(1)(g)
(h) Obligations (other than securities and leases) of states and political | ////////////////// |
subdivisions in the U.S.: | ////////////////// |
(1) Taxable obligations ........................................................ | 4503 0 | 1.a.(1)(h)(1)
(2) Tax-exempt obligations ..................................................... | 4504 712 | 1.a.(1)(h)(2)
(i) All other loans in domestic offices ............................................ | 4058 38,817 | 1.a.(1)(i)
(2) In foreign offices, Edge and Agreement subsidiaries, and IBFs ...................... | 4059 4,362 | 1.a.(2)
b. Income from lease financing receivables: | ////////////////// |
(1) Taxable leases ..................................................................... | 4505 5,225 | 1.b.(1)
(2) Tax-exempt leases .................................................................. | 4307 0 | 1.b.(2)
c. Interest income on balances due from depository institutions:(1) | ////////////////// |
(1) In domestic offices ................................................................ | 4105 127 | 1.c.(1)
(2) In foreign offices, Edge and Agreement subsidiaries, and IBFs ...................... | 4106 0 | 1.c.(2)
d. Interest and dividend income on securities: | ////////////////// |
(1) U.S. Treasury securities and U.S. Government agency and corporation obligations .... | 4027 137,514 | 1.d.(1)
(2) Securities issued by states and political subdivisions in the U.S.: | ////////////////// |
(a) Taxable securities ............................................................. | 4506 15 | 1.d.(2)(a)
(b) Tax-exempt securities .......................................................... | 4507 8 | 1.d.(2)(b)
(3) Other domestic debt securities ..................................................... | 3657 103 | 1.d.(3)
(4) Foreign debt securities ............................................................ | 3658 0 | 1.d.(4)
(5) Equity securities (including investments in mutual funds) .......................... | 3659 1,384 | 1.d.(5)
e. Interest income from trading assets .................................................... | 4069 234 | 1.e.
----------------------
- ------------
(1) Includes interest income on time certificates of deposit not held for
trading.
</TABLE>
3
<PAGE> 12
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-2
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI--Continued
----------------
Dollar Amounts in Thousands | Year-to-date |
- ----------------------------------------------------------------------------------- --------------
1. Interest income (continued) | RIAD Bil Mil Thou |
f. Interest income on federal funds sold and securities purchased under | ////////////////// |
agreements to resell in domestic offices of the bank and of its Edge | ////////////////// |
and Agreement subsidiaries, and in IBFs ............................. | 4020 13,714 | 1.f.
g. Total interest income (sum of items 1.a through 1.f) ................ | 4107 636,649 | 1.g.
2. Interest expense: | ////////////////// |
a. Interest on deposits: | ////////////////// |
(1) Interest on deposits in domestic offices: | ////////////////// |
(a) Transaction accounts (NOW accounts, ATS accounts, and | ////////////////// |
telephone and preauthorized transfer accounts) .............. | 4508 2,772 | 2.a.(1)(a)
(b) Nontransaction accounts: | ////////////////// |
(1) Money market deposit accounts (MMDAs) ................... | 4509 20,998 | 2.a.(1)(b)(1)
(2) Other savings deposits .................................. | 4511 51,941 | 2.a.(1)(b)(2)
(3) Time certificates of deposit of $100,000 or more ........ | 4174 21,216 | 2.a.(1)(b)(3)
(4) All other time deposits ................................. | 4512 67,067 | 2.a.(1)(b)(4)
(2) Interest on deposits in foreign offices, Edge and Agreement | ////////////////// |
subsidiaries, and IBFs .......................................... | 4172 8,097 | 2.a.(2)
b. Expense of federal funds purchased and securities sold under | ////////////////// |
agreements to repurchase in domestic offices of the bank and of its | ////////////////// |
Edge and Agreement subsidiaries, and in IBFs ........................ | 4180 26,377 | 2.b.
c. Interest on demand notes issued to the U.S. Treasury, trading | ////////////////// |
liabilities, and other borrowed money ............................... | 4185 18,422 | 2.c.
d. Interest on mortgage indebtedness and obligations under capitalized | ////////////////// |
leases .............................................................. | 4072 774 | 2.d.
e. Interest on subordinated notes and debentures ....................... | 4200 14,452 | 2.e.
f. Total interest expense (sum of items 2.a through 2.e) ............... | 4073 232,116 | 2.f.
| ---------------------------
3. Net interest income (item 1.g minus 2.f) ............................... | ////////////////// | RIAD 4074 | 404,533 | 3.
| ---------------------------
4. Provisions: | ////////////////// |
| ---------------------------
a. Provision for loan and lease losses ................................. | ////////////////// | RIAD 4230 | 0 | 4.a.
b. Provision for allocated transfer risk ............................... | ////////////////// | RIAD 4243 | 0 | 4.b.
| ---------------------------
5. Noninterest income: | ////////////////// |
a. Income from fiduciary activities .................................... | 4070 59,200 | 5.a.
b. Service charges on deposit accounts in domestic offices ............. | 4080 71,312 | 5.b.
c. Trading revenue (must equal Schedule RI, sum of Memorandum | ////////////////// |
items 8.a through 8.d) .............................................. | A220 14,259 | 5.c.
d. Other foreign transaction gains (losses) ............................ | 4076 0 | 5.d.
e. Not applicable | ////////////////// |
f. Other noninterest income: | ////////////////// |
(1) Other fee income ................................................ | 5407 38,944 | 5.f.(1)
(2) All other noninterest income* ................................... | 5408 20,107 | 5.f.(2)
| ---------------------------
g. Total noninterest income (sum of items 5.a through 5.f) ............. | ////////////////// | RIAD 4079 | 203,822 | 5.g.
6. a. Realized gains (losses) on held-to-maturity securities .............. | ////////////////// | RIAD 3521 | 0 | 6.a.
b. Realized gains (losses) on available-for-sale securities ............ | ////////////////// | RIAD 3196 | 4,389 | 6.b.
| ---------------------------
7. Noninterest expense: | ////////////////// |
a. Salaries and employee benefits ...................................... | 4135 209,683 | 7.a.
b. Expenses of premises and fixed assets (net of rental income) | ////////////////// |
(excluding salaries and employee benefits and mortgage interest) .... | 4217 75,228 | 7.b.
c. Other noninterest expense* .......................................... | 4092 113,758 | 7.c.
| ---------------------------
d. Total noninterest expense (sum of items 7.a through 7.c) ............ | ////////////////// | RIAD 4093 | 398,669 | 7.d.
| ---------------------------
8. Income (loss) before income taxes and extraordinary items and other | ////////////////// |
| ---------------------------
adjustments (item 3 plus or minus items 4.a, 4.b, 5.g, 6.a, 6.b, and 7.d)| ////////////////// | RIAD 4301 | 214,075 | 8.
9. Applicable income taxes (on item 8) .................................... | ////////////////// | RIAD 4302 | 78,165 | 9.
| ---------------------------
| ////////////////// |
10. Income (loss) before extraordinary items and other adjustments (item 8 | ---------------------------
minus 9) ............................................................... | ////////////////// | RIAD 4300 | 135,910 | 10.
-------------------------------------------------
- ------------
*Describe on Schedule RI-E--Explanations.
</TABLE>
4
<PAGE> 13
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-3
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI--Continued ----------------
| Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------- --------------------
11. Extraordinary items and other adjustments: | ////////////////// |
a. Extraordinary items and other adjustments, gross of income taxes* . | 4310 0 | 11.a.
b. Applicable income taxes (on item 11.a)* ........................... | 4315 0 | 11.b.
c. Extraordinary items and other adjustments, net of income taxes | ////////////////// |---------------------------
(item 11.a minus 11.b) ............................................ | ////////////////// | RIAD 4320 | 0 | 11.c.
12. Net income (loss) (sum of items 10 and 11.c) ......................... | ////////////////// | RIAD 4340 | 135,910 | 12.
-------------------------------------------------
----------
| I481 | (-
------ --------
Memoranda | Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- ------------------------------------------------------------------------------------------------------ --------------------
1. Interest expense incurred to carry tax-exempt securities, loans, and leases acquired after | ////////////////// |
August 7, 1986, that is not deductible for federal income tax purposes .......................... | 4513 100 | M.1.
2. Income from the sale and servicing of mutual funds and annuities in domestic offices | ////////////////// |
(included in Schedule RI, item 8) ............................................................... | 8431 8,458 | M.2.
3.-4. Not applicable | ////////////////// |
5. Number of full-time equivalent employees on payroll at end of current period (round to | //// Number |
nearest whole number) ........................................................................... | 4150 8,754 | M.5.
6. Not applicable | ////////////////// |
7. If the reporting bank has restated its balance sheet as a result of applying push down | //// MM DD YY |
accounting this calendar year, report the date of the bank's acquisition ........................ | 9106 00/00/00 | M.7.
8. Trading revenue (from cash instruments and off-balance sheet derivative instruments) | ////////////////// |
(sum of Memorandum items 8.a through 8.d must equal Schedule RI, item 5.c): | //// Bil Mil Thou |
a. Interest rate exposures ...................................................................... | 8757 6,911 | M.8.a.
b. Foreign exchange exposures ................................................................... | 8758 7,348 | M.8.b.
c. Equity security and index exposures .......................................................... | 8759 0 | M.8.c.
d. Commodity and other exposures ................................................................ | 8760 0 | M.8.d.
9. Impact on income of off-balance sheet derivatives held for purposes other than trading: | ////////////////// |
a. Net increase (decrease) to interest income ................................................... | 8761 8,763 | M.9.a.
b. Net (increase) decrease to interest expense .................................................. | 8762 (870)| M.9.b.
c. Other (noninterest) allocations .............................................................. | 8763 (616)| M.9.c.
10. Credit losses on off-balance sheet derivatives (see instructions) ............................... | A251 0 | M.10.
----------------------
- ------------
*Describe on Schedule RI-E--Explanations.
</TABLE>
5
<PAGE> 14
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-4
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI-A--Changes in Equity Capital
Indicate decreases and losses in parentheses. ----------
| I483 | (-
------------ --------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- ------------------------------------------------------------------------------------------------------ --------------------
1. Total equity capital originally reported in the December 31, 1995, Reports of Condition | ////////////////// |
and Income ...................................................................................... | 3215 1,596,159 | 1.
2. Equity capital adjustments from amended Reports of Income, net* ................................. | 3216 0 | 2.
3. Amended balance end of previous calendar year (sum of items 1 and 2) ............................ | 3217 1,596,159 | 3.
4. Net income (loss) (must equal Schedule RI, item 12) ............................................. | 4340 135,910 | 4.
5. Sale, conversion, acquisition, or retirement of capital stock, net .............................. | 4346 0 | 5.
6. Changes incident to business combinations, net .................................................. | 4356 0 | 6.
7. LESS: Cash dividends declared on preferred stock ................................................ | 4470 0 | 7.
8. LESS: Cash dividends declared on common stock ................................................... | 4460 0 | 8.
9. Cumulative effect of changes in accounting principles from prior years* (see instructions for | ////////////////// |
this schedule) .................................................................................. | 4411 0 | 9.
10. Corrections of material accounting errors from prior years* (see instructions for this schedule) | 4412 0 | 10.
11. Change in net unrealized holding gains (losses) on available-for-sale securities ................ | 8433 (72,304)| 11.
12. Foreign currency translation adjustments ........................................................ | 4414 0 | 12.
13. Other transactions with parent holding company* (not included in items 5, 7, or 8 above) ........ | 4415 0 | 13.
14. Total equity capital end of current period (sum of items 3 through 13) (must equal | ////////////////// |
Schedule RC, item 28) ........................................................................... | 3210 1,659,765 | 14.
----------------------
- ------------
*Describe on Schedule RI-E--Explanations.
Schedule RI-B--Charge-offs and Recoveries and Changes in Allowance for Loan and Lease Losses
Part I. Charge-offs and Recoveries on Loans and Leases
Part I excludes charge-offs and recoveries through the allocated transfer risk reserve.
----------
| I486 | (-
--------------------------------- --------
| (Column A) | (Column B) |
| Charge-offs | Recoveries |
-------------------- --------------------
| Calendar year-to-date |
-----------------------------------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou | RIAD Bil Mil Thou |
- ------------------------------------------------------------------------------ -------------------- --------------------
1. Loans secured by real estate: | ////////////////// | ////////////////// |
a. To U.S. addressees (domicile) ......................................... | 4651 1,321 | 4661 2,459 | 1.a.
b. To non-U.S. addressees (domicile) ..................................... | 4652 0 | 4662 0 | 1.b.
2. Loans to depository institutions and acceptances of other banks: | ////////////////// | ////////////////// |
a. To U.S. banks and other U.S. depository institutions .................. | 4653 0 | 4663 0 | 2.a.
b. To foreign banks ...................................................... | 4654 0 | 4664 0 | 2.b.
3. Loans to finance agricultural production and other loans to farmers ...... | 4655 1,227 | 4665 4 | 3.
4. Commercial and industrial loans: | ////////////////// | ////////////////// |
a. To U.S. addressees (domicile) ......................................... | 4645 26,720 | 4617 1,135 | 4.a.
b. To non-U.S. addressees (domicile) ..................................... | 4646 0 | 4618 0 | 4.b.
5. Loans to individuals for household, family, and other personal | ////////////////// | ////////////////// |
expenditures: | ////////////////// | ////////////////// |
a. Credit cards and related plans ........................................ | 4656 1,647 | 4666 210 | 5.a.
b. Other (includes single payment, installment, and all student loans) ... | 4657 14,515 | 4667 5,310 | 5.b.
6. Loans to foreign governments and official institutions ................... | 4643 0 | 4627 5 | 6.
7. All other loans .......................................................... | 4644 665 | 4628 1,149 | 7.
8. Lease financing receivables: | ////////////////// | ////////////////// |
a. Of U.S. addressees (domicile) ......................................... | 4658 0 | 4668 0 | 8.a.
b. Of non-U.S. addressees (domicile) ..................................... | 4659 0 | 4669 0 | 8.b.
9. Total (sum of items 1 through 8) ......................................... | 4635 46,095 | 4605 10,272 | 9.
-------------------------------------------
</TABLE>
6
<PAGE> 15
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-5
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI-B--Continued
Part I. Continued
-------------------------------------------
| (Column A) | (Column B) |
| Charge-offs | Recoveries |
-------------------- --------------------
Memoranda | Calendar year-to-date |
-----------------------------------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou | RIAD Bil Mil Thou |
- ------------------------------------------------------------------------------ -------------------- --------------------
1-3. Not applicable | ////////////////// | ////////////////// |
4. Loans to finance commercial real estate, construction, and land | ////////////////// | ////////////////// |
development activities (not secured by real estate) included in | ////////////////// | ////////////////// |
Schedule RI-B, part I, items 4 and 7, above .............................. | 5409 0 | 5410 51 | M.4.
5. Loans secured by real estate in domestic offices (included in | ////////////////// | ////////////////// |
Schedule RI-B, part I, item 1, above): | ////////////////// | ////////////////// |
a. Construction and land development ..................................... | 3582 450 | 3583 148 | M.5.a.
b. Secured by farmland ................................................... | 3584 0 | 3585 0 | M.5.b.
c. Secured by 1-4 family residential properties: | ////////////////// | ////////////////// |
(1) Revolving, open-end loans secured by 1-4 family residential | ////////////////// | ////////////////// |
properties and extended under lines of credit ..................... | 5411 0 | 5412 0 | M.5.c.(1)
(2) All other loans secured by 1-4 family residential properties ...... | 5413 866 | 5414 263 | M.5.c.(2)
d. Secured by multifamily (5 or more) residential properties ............. | 3588 0 | 3589 4 | M.5.d.
e. Secured by nonfarm nonresidential properties .......................... | 3590 5 | 3591 2,044 | M.5.e.
-------------------------------------------
Part II. Changes in Allowance for Loan and Lease Losses
----------------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Balance originally reported in the December 31, 1995, Reports of Condition and Income ......... | 3124 290,221 | 1.
2. Recoveries (must equal part I, item 9, column B above) ........................................ | 4605 10,272 | 2.
3. LESS: Charge-offs (must equal part I, item 9, column A above) ................................. | 4635 46,095 | 3.
4. Provision for loan and lease losses (must equal Schedule RI, item 4.a) ........................ | 4230 0 | 4.
5. Adjustments* (see instructions for this schedule) ............................................. | 4815 0 | 5.
6. Balance end of current period (sum of items 1 through 5) (must equal Schedule RC, | ////////////////// |
item 4.b) ..................................................................................... | 3123 254,398 | 6.
----------------------
- ------------
*Describe on Schedule RI-E--Explanations.
Schedule RI-C--Applicable Income Taxes by Taxing Authority
Schedule RI-C is to be reported with the December Report of Income.
----------
| I489 | (-
------------ --------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Federal ....................................................................................... | 4780 N/A | 1.
2. State and local ............................................................................... | 4790 N/A | 2.
3. Foreign ....................................................................................... | 4795 N/A | 3.
4. Total (sum of items 1 through 3) (must equal sum of Schedule RI, items 9 and 11.b) ............ | 4770 N/A | 4.
----------------------------
5. Deferred portion of item 4 ........................................ | RIAD 4772 | N/A | ////////////////// | 5.
--------------------------------------------------
</TABLE>
7
<PAGE> 16
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-6
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI-D--Income from International Operations
For all banks with foreign offices, Edge or Agreement subsidiaries, or IBFs where international operations account for more than 10
percent of total revenues, total assets, or net income.
Part I. Estimated Income from International Operations
----------
| I492 | (-
------ --------
| Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Interest income and expense booked at foreign offices, Edge and Agreement subsidiaries, | ////////////////// |
and IBFs: | ////////////////// |
a. Interest income booked ..................................................................... | 4837 N/A | 1.a.
b. Interest expense booked .................................................................... | 4838 N/A | 1.b.
c. Net interest income booked at foreign offices, Edge and Agreement subsidiaries, and | ////////////////// |
IBFs (item 1.a minus 1.b) .................................................................. | 4839 N/A | 1.c.
2. Adjustments for booking location of international operations: | ////////////////// |
a. Net interest income attributable to international operations booked at domestic offices .... | 4840 N/A | 2.a.
b. Net interest income attributable to domestic business booked at foreign offices ............ | 4841 N/A | 2.b.
c. Net booking location adjustment (item 2.a minus 2.b) ....................................... | 4842 N/A | 2.c.
3. Noninterest income and expense attributable to international operations: | ////////////////// |
a. Noninterest income attributable to international operations ................................ | 4097 N/A | 3.a.
b. Provision for loan and lease losses attributable to international operations ............... | 4235 N/A | 3.b.
c. Other noninterest expense attributable to international operations ......................... | 4239 N/A | 3.c.
d. Net noninterest income (expense) attributable to international operations (item 3.a minus | ////////////////// |
3.b and 3.c) ............................................................................... | 4843 N/A | 3.d.
4. Estimated pretax income attributable to international operations before capital allocation | ////////////////// |
adjustment (sum of items 1.c, 2.c, and 3.d) ................................................... | 4844 N/A | 4.
5. Adjustment to pretax income for internal allocations to international operations to reflect | ////////////////// |
the effects of equity capital on overall bank funding costs ................................... | 4845 N/A | 5.
6. Estimated pretax income attributable to international operations after capital allocation | ////////////////// |
adjustment (sum of items 4 and 5) ............................................................. | 4846 N/A | 6.
7. Income taxes attributable to income from international operations as estimated in item 6 ...... | 4797 N/A | 7.
8. Estimated net income attributable to international operations (item 6 minus 7) ................ | 4341 N/A | 8.
----------------------
Memoranda ----------------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Intracompany interest income included in item 1.a above ....................................... | 4847 N/A | M.1.
2. Intracompany interest expense included in item 1.b above ...................................... | 4848 N/A | M.2.
----------------------
Part II. Supplementary Details on Income from International Operations Required by the Departments of Commerce and Treasury for
Purposes of the U.S. International Accounts and the U.S. National Income and Product Accounts
----------------
| Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Interest income booked at IBFs ................................................................ | 4849 N/A | 1.
2. Interest expense booked at IBFs ............................................................... | 4850 N/A | 2.
3. Noninterest income attributable to international operations booked at domestic offices | ////////////////// |
(excluding IBFs): | ////////////////// |
a. Gains (losses) and extraordinary items ..................................................... | 5491 N/A | 3.a.
b. Fees and other noninterest income .......................................................... | 5492 N/A | 3.b.
4. Provision for loan and lease losses attributable to international operations booked at domestic | ////////////////// |
offices (excluding IBFs) ...................................................................... | 4852 N/A | 4.
5. Other noninterest expense attributable to international operations booked at domestic offices | ////////////////// |
(excluding IBFs) .............................................................................. | 4853 N/A | 5.
----------------------
</TABLE>
8
<PAGE> 17
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-7
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI-E--Explanations
Schedule RI-E is to be completed each quarter on a calendar year-to-date basis.
Detail all adjustments in Schedule RI-A and RI-B, all extraordinary items and other adjustments in Schedule RI, and all significant
items of other noninterest income and other noninterest expense in Schedule RI. (See instructions for details.)
----------
| I495 | (-
------ --------
| Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- --------------------
1. All other noninterest income (from Schedule RI, item 5.f.(2)) | ////////////////// |
Report amounts that exceed 10% of Schedule RI, item 5.f.(2): | ////////////////// |
a. Net gains on other real estate owned ..................................................... | 5415 5,813 | 1.a.
b. Net gains on sales of loans .............................................................. | 5416 0 | 1.b.
c. Net gains on sales of premises and fixed assets .......................................... | 5417 0 | 1.c.
Itemize and describe the three largest other amounts that exceed 10% of Schedule RI, | ////////////////// |
item 5.f.(2): | ////////////////// |
----------- | |
d. | TEXT 4461 |------------------------------------------------------------------------------ | 1.d.
----------- CHECK PRINTING INCOME | 4461 5,121 |
e. | TEXT 4462 |------------------------------------------------------------------------------ | 1.e.
----------- INTERBANK CONTRACT SERVICES | 4462 5,480 |
f. | TEXT 4463 |------------------------------------------------------------------------------ | 1.f.
------------- | 4463 |
2. Other noninterest expense (from Schedule RI, item 7.c): | ////////////////// |
a. Amortization expense of intangible assets ................................................ | 4531 22,682 | 2.a.
Report amounts that exceed 10% of Schedule RI, item 7.c: | ////////////////// |
b. Net losses on other real estate owned .................................................... | 5418 0 | 2.b.
c. Net losses on sales of loans ............................................................. | 5419 0 | 2.c.
d. Net losses on sales of premises and fixed assets ......................................... | 5420 0 | 2.d.
Itemize and describe the three largest other amounts that exceed 10% of Schedule RI, | ////////////////// |
item 7.c: | ////////////////// |
------------- | |
e. | TEXT 4464 |------------------------------------------------------------------------------ | 2.e.
----------- | 4464 |
f. | TEXT 4467 |------------------------------------------------------------------------------ | 2.f.
----------- | 4467 |
g. | TEXT 4468 |------------------------------------------------------------------------------ | 2.g.
------------- | 4468 |
3. Extraordinary items and other adjustments (from Schedule RI, item 11.a) and applicable | ////////////////// |
income tax effect (from Schedule RI, item 11.b) (itemize and describe all extraordinary | ////////////////// |
items and other adjustments): | ////////////////// |
------------- | |
a. (1) | TEXT 4469 |-------------------------------------------------------------------------- | 3.a.(1)
------------- | 4469 |
(2) Applicable income tax effect | RIAD 4486 | | ////////////////// | 3.a.(2)
------------- ---------------------------- |
b. (1) | TEXT 4487 |-------------------------------------------------------------------------- | 3.b.(1)
------------- | 4487 |
(2) Applicable income tax effect | RIAD 4488 | | ////////////////// | 3.b.(2)
------------- ---------------------------- |
c. (1) | TEXT 4489 |-------------------------------------------------------------------------- | 3.c.(1)
------------- | 4489 |
(2) Applicable income tax effect | RIAD 4491 | | ////////////////// | 3.c.(2)
---------------------------- |
4. Equity capital adjustments from amended Reports of Income (from Schedule RI-A, item 2) | ////////////////// |
(itemize and describe all adjustments): | ////////////////// |
------------- | |
a. | TEXT 4492 |------------------------------------------------------------------------------ | 4.a.
----------- | 4492 |
b. | TEXT 4493 |------------------------------------------------------------------------------ | 4.b.
------------- | 4493 |
5. Cumulative effect of changes in accounting principles from prior years | ////////////////// |
(from Schedule RI-A, item 9) (itemize and describe all changes in accounting principles): | ////////////////// |
------------- | |
a. | TEXT 4494 |------------------------------------------------------------------------------ | 5.a.
----------- | 4494 |
b. | TEXT 4495 |------------------------------------------------------------------------------ | 5.b.
------------- | 4495 |
6. Corrections of material accounting errors from prior years (from Schedule RI-A, item 10) | ////////////////// |
(itemize and describe all corrections): | ////////////////// |
------------- | |
a. | TEXT 4496 |------------------------------------------------------------------------------ | 6.a.
----------- | 4496 |
b. | TEXT 4497 |------------------------------------------------------------------------------ | 6.b.
------------- | 4497 |
----------------------
</TABLE>
9
<PAGE> 18
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RI-8
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RI-E--Continued
----------------
| Year-to-date |
------ --------------
Dollar Amounts in Thousands | RIAD Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- --------------------
7. Other transactions with parent holding company (from Schedule RI-A, item 13) | ////////////////// |
(itemize and describe all such transactions): | ////////////////// |
------------- | |
a. | TEXT 4498 |------------------------------------------------------------------------------| | 7.a.
----------- | 4498 |
b. | TEXT 4499 |------------------------------------------------------------------------------ | 7.b.
------------- | 4499 |
8. Adjustments to allowance for loan and lease losses (from Schedule RI-B, part II, item 5) | ////////////////// |
(itemize and describe all adjustments): | ////////////////// |
------------- | |
a. | TEXT 4521 |------------------------------------------------------------------------------ | 8.a.
----------- | 4521 |
b. | TEXT 4522 |------------------------------------------------------------------------------ | 8.b.
------------- | 4522 |
--------------------
9. Other explanations (the space below is provided for the bank to briefly describe, at its | I498 | I499 | (-
option, any other significant items affecting the Report of Income): ----------------------
---
No comment | | (RIAD 4769)
---
Other explanations (please type or print clearly):
(TEXT 4769)
</TABLE>
10
<PAGE> 19
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-1
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Consolidated Report of Condition for Insured Commercial and State-Chartered Savings Banks for June 30, 1996
All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount outstanding as of the last
business day of the quarter.
Schedule RC--Balance Sheet
----------
| C400 | (-
------------ --------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ------------------------------------------------------------------------------------------------- --------------------
ASSETS | ////////////////// |
1. Cash and balances due from depository institutions (from Schedule RC-A): | ////////////////// |
a. Noninterest-bearing balances and currency and coin(1) ................................... | 0081 2,008,330 | 1.a.
b. Interest-bearing balances(2) ............................................................ | 0071 5,108 | 1.b.
2. Securities: | ////////////////// |
a. Held-to-maturity securities (from Schedule RC-B, column A) .............................. | 1754 592,121 | 2.a.
b. Available-for-sale securities (from Schedule RC-B, column D) ............................ | 1773 3,158,919 | 2.b.
3. Federal funds sold and securities purchased under agreements to resell in domestic offices | ////////////////// |
of the bank and of its Edge and Agreement subsidiaries, and in IBFs: | ////////////////// |
a. Federal funds sold ...................................................................... | 0276 1,774,300 | 3.a.
b. Securities purchased under agreements to resell ......................................... | 0277 14,896 | 3.b.
4. Loans and lease financing receivables: ----------------------------| ////////////////// |
a. Loans and leases, net of unearned income (from Schedule RC-C) | RCFD 2122 | 12,062,066 | ////////////////// | 4.a.
b. LESS: Allowance for loan and lease losses ................... | RCFD 3123 | 254,398 | ////////////////// | 4.b.
c. LESS: Allocated transfer risk reserve ....................... | RCFD 3128 | 0 | ////////////////// | 4.c.
---------------------------- |
d. Loans and leases, net of unearned income, | ////////////////// |
allowance, and reserve (item 4.a minus 4.b and 4.c) ..................................... | 2125 11,807,668 | 4.d.
5. Trading assets (from Schedule RC-D) ........................................................ | 3545 26,501 | 5.
6. Premises and fixed assets (including capitalized leases) ................................... | 2145 555,173 | 6.
7. Other real estate owned (from Schedule RC-M) ............................................... | 2150 13,643 | 7.
8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) ... | 2130 0 | 8.
9. Customers' liability to this bank on acceptances outstanding ............................... | 2155 10,277 | 9.
10. Intangible assets (from Schedule RC-M) ..................................................... | 2143 442,399 | 10.
11. Other assets (from Schedule RC-F) .......................................................... | 2160 398,765 | 11.
12. Total assets (sum of items 1 through 11) ................................................... | 2170 20,808,100 | 12.
----------------------
- ------------
(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
</TABLE>
11
<PAGE> 20
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-2
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC--Continued
---------------------------
Dollar Amounts in Thousands | ///////// Bil Mil Thou |
- ----------------------------------------------------------------------------------------------- -------------------------
LIABILITIES | /////////////////////// |
13. Deposits: | /////////////////////// |
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, | /////////////////////// |
part I) ............................................................................... | RCON 2200 15,341,444 | 13.a.
---------------------------- |
(1) Noninterest-bearing(1) ................................ | RCON 6631 6,104,891 | /////////////////////// | 13.a.(1)
(2) Interest-bearing ...................................... | RCON 6636 9,236,553 | /////////////////////// | 13.a.(2)
---------------------------- |
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs (from Schedule RC-E, | /////////////////////// |
part II) .............................................................................. | RCFN 2200 320,667 | 13.b.
---------------------------- |
(1) Noninterest-bearing ................................... | RCFN 6631 0 | /////////////////////// | 13.b.(1)
(2) Interest-bearing ...................................... | RCFN 6636 320,667 | /////////////////////// | 13.b.(2)
---------------------------- |
14. Federal funds purchased and securities sold under agreements to repurchase in domestic | /////////////////////// |
offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs: | /////////////////////// |
a. Federal funds purchased ............................................................... | RCFD 0278 261,294 | 14.a.
b. Securities sold under agreements to repurchase ........................................ | RCFD 0279 950,307 | 14.b.
15. a. Demand notes issued to the U.S. Treasury .............................................. | RCON 2840 1,565,030 | 15.a.
b. Trading liabilities (from Schedule RC-D) .............................................. | RCFD 3548 15,672 | 15.b.
16. Other borrowed money: | /////////////////////// |
a. With a remaining maturity of one year or less ......................................... | RCFD 2332 14,797 | 16.a.
b. With a remaining maturity of more than one year ....................................... | RCFD 2333 96 | 16.b.
17. Mortgage indebtedness and obligations under capitalized leases ........................... | RCFD 2910 26,820 | 17.
18. Bank's liability on acceptances executed and outstanding ................................. | RCFD 2920 10,277 | 18.
19. Subordinated notes and debentures ........................................................ | RCFD 3200 345,000 | 19.
20. Other liabilities (from Schedule RC-G) ................................................... | RCFD 2930 296,931 | 20.
21. Total liabilities (sum of items 13 through 20) ........................................... | RCFD 2948 19,148,335 | 21.
| /////////////////////// |
22. Limited-life preferred stock and related surplus ......................................... | RCFD 3282 0 | 22.
EQUITY CAPITAL | /////////////////////// |
23. Perpetual preferred stock and related surplus ............................................ | RCFD 3838 0 | 23.
24. Common stock ............................................................................. | RCFD 3230 612,893 | 24.
25. Surplus (exclude all surplus related to preferred stock) ................................. | RCFD 3839 924,675 | 25.
26. a. Undivided profits and capital reserves ................................................ | RCFD 3632 206,260 | 26.a.
b. Net unrealized holding gains (losses) on available-for-sale securities ................ | RCFD 8434 (84,063)| 26.b.
27. Cumulative foreign currency translation adjustments ...................................... | RCFD 3284 0 | 27.
28. Total equity capital (sum of items 23 through 27) ........................................ | RCFD 3210 1,659,765 | 28.
29. Total liabilities, limited-life preferred stock, and equity capital (sum of items 21, 22, | /////////////////////// |
and 28) .................................................................................. | RCFD 3300 20,808,100 | 29.
---------------------------
Memorandum
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the statement below that best describes the Number
most comprehensive level of auditing work performed for the bank by independent external ------------------
auditors as of any date during 1995 ............................................................... | RCFD 6724 N/A | M.1.
------------------
1 = Independent audit of the bank conducted in accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in accordance with generally accepted auditing standards by a
certified public accounting firm which submits a report on the consolidated holding company (but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally accepted auditing standards by a certified public
accounting firm (may be required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors (may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
- ------------
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
</TABLE>
12
<PAGE> 21
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-3
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-A--Cash and Balances Due From Depository Institutions
Exclude assets held for trading.
----------
| C405 | (-
--------------------------------- --------
| (Column A) | (Column B) |
| Consolidated | Domestic |
| Bank | Offices |
-------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCON Bil Mil Thou |
- -------------------------------------------------------------------------------- -------------------- --------------------
1. Cash items in process of collection, unposted debits, and currency and | ////////////////// | ////////////////// |
coin ....................................................................... | 0022 1,751,651 | ////////////////// | 1.
a. Cash items in process of collection and unposted debits ................. | ////////////////// | 0020 1,475,135 | 1.a.
b. Currency and coin ....................................................... | ////////////////// | 0080 276,516 | 1.b.
2. Balances due from depository institutions in the U.S. ...................... | ////////////////// | 0082 41,717 | 2.
a. U.S. branches and agencies of foreign banks (including their IBFs) ...... | 0083 5,008 | ////////////////// | 2.a.
b. Other commercial banks in the U.S. and other depository institutions | ////////////////// | ////////////////// |
in the U.S. (including their IBFs) ...................................... | 0085 36,709 | ////////////////// | 2.b.
3. Balances due from banks in foreign countries and foreign central banks ..... | ////////////////// | 0070 10,483 | 3.
a. Foreign branches of other U.S. banks .................................... | 0073 16 | ////////////////// | 3.a.
b. Other banks in foreign countries and foreign central banks .............. | 0074 10,472 | ////////////////// | 3.b.
4. Balances due from Federal Reserve Banks .................................... | 0090 209,582 | 0090 209,582 | 4.
5. Total (sum of items 1 through 4) (total of column A must equal | ////////////////// | ////////////////// |
Schedule RC, sum of items 1.a and 1.b) ..................................... | 0010 2,013,438 | 0010 2,013,433 | 5.
-------------------------------------------
----------------------
Memorandum Dollar Amounts in Thousands | RCON Bil Mil Thou |
- ----------------------------------------------------------------------------------------------------- --------------------
1. Noninterest-bearing balances due from commercial banks in the U.S. (included in item 2, | ////////////////// |
column B above) ................................................................................. | 0050 36,609 | M.1.
----------------------
Schedule RC-B--Securities
Exclude assets held for trading.
----------
| C410 | (-
--------------------------------------------------------------------------- --------
| Held-to-maturity | Available-for-sale |
----------------------------------------- -----------------------------------------
| (Column A) | (Column B) | (Column C) | (Column D) |
| Amortized Cost | Fair Value | Amortized Cost | Fair Value(1) |
-------------------- -------------------- -------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- -------------------------------------- -------------------- -------------------- -------------------- --------------------
1. U.S. Treasury securities ......... | 0211 17,973 | 0213 17,950 | 1286 602,162 | 1287 581,488 | 1.
2. U.S. Government agency | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
and corporation obligations | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(exclude mortgage-backed | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities): | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. Issued by U.S. Govern- | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
ment agencies(2) .............. | 1289 0 | 1290 0 | 1291 0 | 1293 0 | 2.a.
b. Issued by U.S. | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
Government-sponsored | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
agencies(3) ................... | 1294 36 | 1295 20 | 1297 0 | 1298 0 | 2.b.
-------------------------------------------------------------------------------------
- -------------
(1) Includes equity securities without readily determinable fair values at historical cost in item 6.c, column D.
(2) Includes Small Business Administration "Guaranteed Loan Pool Certificates," U.S. Maritime Administration obligations, and
Export-Import Bank participation certificates.
(3) Includes obligations (other than mortgage-backed securities) issued by the Farm Credit System, the Federal Home
Loan Bank System, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Financing
Corporation, Resolution Funding Corporation, the Student Loan Marketing Association, and the Tennessee Valley Authority.
</TABLE>
13
<PAGE> 22
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-4
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-B--Continued
-------------------------------------------------------------------------------------
| Held-to-maturity | Available-for-sale |
----------------------------------------- -----------------------------------------
| (Column A) | (Column B) | (Column C) | (Column D) |
| Amortized Cost | Fair Value | Amortized Cost | Fair Value(1) |
-------------------- -------------------- -------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- -------------------------------------- -------------------- -------------------- -------------------- --------------------
3. Securities issued by states | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
and political subdivisions | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
in the U.S.: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. General obligations ........... | 1676 259 | 1677 259 | 1678 0 | 1679 0 | 3.a.
b. Revenue obligations ........... | 1681 40 | 1686 49 | 1690 0 | 1691 0 | 3.b.
c. Industrial development | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
and similar obligations ....... | 1694 0 | 1695 0 | 1696 0 | 1697 0 | 3.c.
4. Mortgage-backed | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities (MBS): | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. Pass-through securities: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(1) Guaranteed by | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
GNMA ...................... | 1698 0 | 1699 0 | 1701 1,279,661 | 1702 1,273,466 | 4.a.(1)
(2) Issued by FNMA | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
and FHLMC ................. | 1703 573,813 | 1705 563,957 | 1706 1,285,738 | 1707 1,254,570 | 4.a.(2)
(3) Other pass-through | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities ................ | 1709 0 | 1710 0 | 1711 0 | 1713 0 | 4.a.(3)
b. Other mortgage-backed | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities (include CMOs, | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
REMICs, and stripped | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
MBS): | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(1) Issued or guaranteed | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
by FNMA, FHLMC, | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
or GNMA ................... | 1714 0 | 1715 0 | 1716 0 | 1717 0 | 4.b.(1)
(2) Collateralized | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
by MBS issued or | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
guaranteed by FNMA, | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
FHLMC, or GNMA ............ | 1718 0 | 1719 0 | 1731 3,230 | 1732 3,268 | 4.b.(2)
(3) All other mortgage- | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
backed securities ......... | 1733 0 | 1734 0 | 1735 0 | 1736 0 | 4.b.(3)
5. Other debt securities: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. Other domestic debt | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities .................... | 1737 0 | 1738 0 | 1739 0 | 1741 0 | 5.a.
b. Foreign debt | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities .................... | 1742 0 | 1743 0 | 1744 0 | 1746 0 | 5.b.
6. Equity securities: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. Investments in mutual | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
funds ......................... | ////////////////// | ////////////////// | 1747 0 | 1748 0 | 6.a.
b. Other equity securities | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
with readily determin- | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
able fair values .............. | ////////////////// | ////////////////// | 1749 0 | 1751 0 | 6.b.
c. All other equity | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
securities(1) ................. | ////////////////// | ////////////////// | 1752 46,127 | 1753 46,127 | 6.c.
7. Total (sum of items 1 | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
through 6) (total of | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
column A must equal | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
Schedule RC, item 2.a) | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(total of column D must | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
equal Schedule RC, | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
item 2.b) ........................ | 1754 592,121 | 1771 582,235 | 1772 3,216,918 | 1773 3,158,919 | 7.
-------------------------------------------------------------------------------------
- -------------
(1) Includes equity securities without readily determinable fair values at historical cost in item 6.c, column D. 14
</TABLE>
14
<PAGE> 23
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-5
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-B--Continued
-----------
Memoranda | C412 | (-
----------- ---------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Pledged securities(2) ......................................................................... | 0416 2,237,322 | M.1.
2. Maturity and repricing data for debt securities(2),(3),(4) (excluding those in | ////////////////// |
nonaccrual status): | ////////////////// |
a. Fixed rate debt securities with a remaining maturity of: | ////////////////// |
(1) Three months or less ................................................................... | 0343 18,265 | M.2.a.(1)
(2) Over three months through 12 months .................................................... | 0344 198,548 | M.2.a.(2)
(3) Over one year through five years ....................................................... | 0345 1,045,308 | M.2.a.(3)
(4) Over five years ........................................................................ | 0346 2,437,988 | M.2.a.(4)
(5) Total fixed rate debt securities (sum of Memorandum items 2.a.(1) through 2.a.(4) ...... | 0347 3,700,109 | M.2.a.(5)
b. Floating rate debt securities with a repricing frequency of: | ////////////////// |
(1) Quarterly or more frequently ........................................................... | 4544 4,804 | M.2.b.(1)
(2) Annually or more frequently, but less frequently than quarterly ........................ | 4545 0 | M.2.b.(2)
(3) Every five years or more frequently, but less frequently than annually ................. | 4551 0 | M.2.b.(3)
(4) Less frequently than every five years .................................................. | 4552 0 | M.2.b.(4)
(5) Total floating rate debt securities (sum of Memorandum items 2.b.(1) through 2.b.(4)) .. | 4553 4,804 | M.2.b.(5)
c. Total debt securities (sum of Memorandum items 2.a.(5) and 2.b.(5)) (must equal total | ////////////////// |
debt securities from Schedule RC-B, sum of items 1 through 5, columns A and D, minus | ////////////////// |
nonaccrual debt securities included in Schedule RC-N, item 9, column C) .................... | 0393 3,704,913 | M.2.c.
3. Not applicable | ////////////////// |
4. Held-to-maturity debt securities restructured and in compliance with modified terms (included | ////////////////// |
in Schedule RC-B, items 3 through 5, column A, above) ......................................... | 5365 0 | M.4.
5. Not applicable | ////////////////// |
6. Floating rate debt securities with a remaining maturity of one year or less(2),(4) (included in | ////////////////// |
Memorandum items 2.b.(1) through 2.b.(4) above) ............................................... | 5519 0 | M.6.
7. Amortized cost of held-to-maturity securities sold or transferred to available-for-sale or | ////////////////// |
trading securities during the calendar year-to-date (report the amortized cost at date of sale | ////////////////// |
or transfer) .................................................................................. | 1778 0 | M.7.
8. High-risk mortgage securities (included in the held-to-maturity and available-for-sale | ////////////////// |
accounts in Schedule RC-B, item 4.b): | ////////////////// |
a. Amortized cost ............................................................................. | 8780 0 | M.8.a.
b. Fair value ................................................................................. | 8781 0 | M.8.b.
9. Structured notes (included in the held-to-maturity and available-for-sale accounts in | ////////////////// |
Schedule RC-B, items 2, 3, and 5): | ////////////////// |
a. Amortized cost ............................................................................. | 8782 0 | M.9.a.
b. Fair value ................................................................................. | 8783 0 | M.9.b.
----------------------
- -------------
(2) Includes held-to-maturity securities at amortized cost and available-for-sale securities at fair value.
(3) Exclude equity securities, e.g., investments in mutual funds, Federal Reserve stock, common stock, and preferred stock.
(4) Memorandum items 2 and 6 are not applicable to savings banks that must complete supplemental Schedule RC-J.
</TABLE>
15
<PAGE> 24
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-6
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-C--Loans and Lease Financing Receivables
Part I. Loans and Leases
Do not deduct the allowance for loan and lease losses from amounts ----------
reported in this schedule. Report total loans and leases, net of unearned | C415 | (-
income. Exclude assets held for trading. --------------------------------- --------
| (Column A) | (Column B) |
| Consolidated | Domestic |
| Bank | Offices |
-------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCON Bil Mil Thou |
- ----------------------------------------------------------------------------- -------------------- --------------------
1. Loans secured by real estate ........................................... | 1410 2,547,770 | ////////////////// | 1.
a. Construction and land development ................................... | ////////////////// | 1415 527,540 | 1.a.
b. Secured by farmland (including farm residential and other | ////////////////// | ////////////////// |
improvements) ....................................................... | ////////////////// | 1420 17,748 | 1.b.
c. Secured by 1-4 family residential properties: | ////////////////// | ////////////////// |
(1) Revolving, open-end loans secured by 1-4 family residential | ////////////////// | ////////////////// |
properties and extended under lines of credit ................... | ////////////////// | 1797 0 | 1.c.(1)
(2) All other loans secured by 1-4 family residential properties: | ////////////////// | ////////////////// |
(a) Secured by first liens ...................................... | ////////////////// | 5367 784,981 | 1.c.(2)(a)
(b) Secured by junior liens ..................................... | ////////////////// | 5368 291,860 | 1.c.(2)(b)
d. Secured by multifamily (5 or more) residential properties ........... | ////////////////// | 1460 155,522 | 1.d.
e. Secured by nonfarm nonresidential properties ........................ | ////////////////// | 1480 770,119 | 1.e.
2. Loans to depository institutions: | ////////////////// | ////////////////// |
a. To commercial banks in the U.S. ..................................... | ////////////////// | 1505 1,840 | 2.a.
(1) To U.S. branches and agencies of foreign banks .................. | 1506 0 | ////////////////// | 2.a.(1)
(2) To other commercial banks in the U.S. ........................... | 1507 1,840 | ////////////////// | 2.a.(2)
b. To other depository institutions in the U.S. ........................ | 1517 10 | 1517 10 | 2.b.
c. To banks in foreign countries ....................................... | ////////////////// | 1510 27,894 | 2.c.
(1) To foreign branches of other U.S. banks ......................... | 1513 0 | ////////////////// | 2.c.(1)
(2) To other banks in foreign countries ............................. | 1516 30,894 | ////////////////// | 2.c.(2)
3. Loans to finance agricultural production and other loans to farmers .... | 1590 63,053 | 1590 63,053 | 3.
4. Commercial and industrial loans: | ////////////////// | ////////////////// |
a. To U.S. addressees (domicile) ....................................... | 1763 5,508,687 | 1763 5,472,190 | 4.a.
b. To non-U.S. addressees (domicile) ................................... | 1764 177,066 | 1764 111,834 | 4.b.
5. Acceptances of other banks: | ////////////////// | ////////////////// |
a. Of U.S. banks ....................................................... | 1756 0 | 1756 0 | 5.a.
b. Of foreign banks .................................................... | 1757 0 | 1757 0 | 5.b.
6. Loans to individuals for household, family, and other personal | ////////////////// | ////////////////// |
expenditures (i.e., consumer loans) (includes purchased paper) ......... | ////////////////// | 1975 2,346,447 | 6.
a. Credit cards and related plans (includes check credit and other | ////////////////// | ////////////////// |
revolving credit plans) ............................................. | 2008 127,685 | ////////////////// | 6.a.
b. Other (includes single payment, installment, and all student loans) . | 2011 2,218,762 | ////////////////// | 6.b.
7. Loans to foreign governments and official institutions (including | ////////////////// | ////////////////// |
foreign central banks) ................................................. | 2081 153,840 | 2081 148,417 | 7.
8. Obligations (other than securities and leases) of states and political | ////////////////// | ////////////////// |
subdivisions in the U.S. (includes nonrated industrial development | ////////////////// | ////////////////// |
obligations) ........................................................... | 2107 17,446 | 2107 17,446 | 8.
9. Other loans ............................................................ | 1563 1,064,591 | ////////////////// | 9.
a. Loans for purchasing or carrying securities (secured and unsecured) . | ////////////////// | 1545 45,371 | 9.a.
b. All other loans (exclude consumer loans) ............................ | ////////////////// | 1564 1,019,220 | 9.b.
10. Lease financing receivables (net of unearned income) ................... | ////////////////// | 2165 150,422 | 10.
a. Of U.S. addressees (domicile) ....................................... | 2182 135,853 | ////////////////// | 10.a.
b. Of non-U.S. addressees (domicile) ................................... | 2183 14,569 | ////////////////// | 10.b.
11. LESS: Any unearned income on loans reflected in items 1-9 above ........ | 2123 0 | 2123 0 | 11.
12. Total loans and leases, net of unearned income (sum of items 1 | ////////////////// | ////////////////// |
through 10 minus item 11) (total of column A must equal | ////////////////// | ////////////////// |
Schedule RC, item 4.a) ................................................. | 2122 12,062,066 | 2122 11,951,914 | 12.
-------------------------------------------
</TABLE>
16
<PAGE> 25
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-7
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-C--Continued
Part I. Continued
-------------------------------------------
| (Column A) | (Column B) |
| Consolidated | Domestic |
Memoranda | Bank | Offices |
-------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCON Bil Mil Thou |
- -------------------------------------------------------------------------------- -------------------- --------------------
1. Commercial paper included in Schedule RC-C, part I, above ................. | 1496 0 | 1496 0 | M.1.
2. Loans and leases restructured and in compliance with modified terms | ////////////////// | ////////////////// |
(included in Schedule RC-C, part I, above and not reported as past due | ////////////////// | ////////////////// |
or nonaccrual in Schedule RC-N, Memorandum item 1): | ////////////////// | ////////////////// |
| ////////////////// | ////////////////// |
a. Loans secured by real estate: ---------------------
(1) To U.S. addressees (domicile) ...................................... | 1687 0 | M.2.a.(1)
(2) To non-U.S. addressees (domicile) .................................. | 1689 0 | M.2.a.(2)
b. All other loans and all lease financing receivables (exclude loans to | ////////////////// |
individuals for household, family, and other personal expenditures) .... | 8691 219,523 | M.2.b.
c. Commercial and industrial loans to and lease financing receivables | ////////////////// |
of non-U.S. addressees (domicile) included in Memorandum item 2.b | ////////////////// |
above .................................................................. | 8692 0 | M.2.c.
3. Maturity and repricing data for loans and leases(1) (excluding those in | ////////////////// |
nonaccrual status): | ////////////////// |
a. Fixed rate loans and leases with a remaining maturity of: | ////////////////// |
(1) Three months or less ............................................... | 0348 412,544 | M.3.a.(1)
(2) Over three months through 12 months ................................ | 0349 618,804 | M.3.a.(2)
(3) Over one year through five years ................................... | 0356 2,248,224 | M.3.a.(3)
(4) Over five years .................................................... | 0357 1,421,160 | M.3.a.(4)
(5) Total fixed rate loans and leases (sum of Memorandum | ////////////////// |
items 3.a.(1) through 3.a.(4)) ..................................... | 0358 4,700,732 | M.3.a.(5)
b. Floating rate loans with a repricing frequency of: | ////////////////// |
(1) Quarterly or more frequently ....................................... | 4554 6,559,414 | M.3.b.(1)
(2) Annually or more frequently, but less frequently than quarterly .... | 4555 519,123 | M.3.b.(2)
(3) Every five years or more frequently, but less frequently than | ////////////////// |
annually ........................................................... | 4561 118,330 | M.3.b.(3)
(4) Less frequently than every five years .............................. | 4564 31,362 | M.3.b.(4)
(5) Total floating rate loans (sum of Memorandum items 3.b.(1) | ////////////////// |
through 3.b.(4)) ................................................... | 4567 7,228,229 | M.3.b.(5)
c. Total loans and leases (sum of Memorandum items 3.a.(5) and | ////////////////// |
3.b.(5)) (must equal the sum of total loans and leases, net, from | ////////////////// |
Schedule RC-C, part I, item 12, plus unearned income from | ////////////////// |
Schedule RC-C, part I, item 11, minus total nonaccrual loans and | ////////////////// |
leases from Schedule RC-N, sum of items 1 through 8, column C) ......... | 1479 11,928,961 | M.3.c.
d. Floating rate loans with a remaining maturity of one year or less | ////////////////// |
(included in Memorandum items 3.b.(1) through 3.b.(4) above) ........... | A246 2,497,717 | M.3.d.
4. Loans to finance commercial real estate, construction, and land | ////////////////// |
development activities (not secured by real estate) included in | ////////////////// |
Schedule RC-C, part I, items 4 and 9, column A, page RC-6(2) .............. | 2746 324,581 | M.4.
5. Loans and leases held for sale (included in Schedule RC-C, part I, | ////////////////// |
above) .................................................................... | 5369 263,751 | M.5.
| ////////////////// |---------------------
6. Adjustable rate closed-end loans secured by first liens on 1-4 family | ////////////////// | RCON Bil Mil Thou |
residential properties (included in Schedule RC-C, part I, item 1.c.(2)(a), | --------------------
column B, page RC-6) ...................................................... | ////////////////// | 5370 207,766 | M.6.
-------------------------------------------
- -------------
(1) Memorandum item 3 is not applicable to savings banks that must complete supplemental Schedule RC-J.
(2) Exclude loans secured by real estate that are included in Schedule RC-C, part I, item 1, column A.
</TABLE>
17
<PAGE> 26
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-7a
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-C--Continued
Part II. Loans to Small Businesses and Small Farms
Schedule RC-C, Part II is to be reported only with the June Report of Condition.
Report the number and amount currently outstanding as of June 30 of business loans with "original amounts" of $1,000,000 or less and
farm loans with "original amounts" of $500,000 or less. The following guidelines should be used to determine the "original amount"
of a loan: (1) For loans drawn down under lines of credit or loan commitments, the "original amount" of the loan is the size of the
line of credit or loan commitment when the line of credit or loan commitment was most recently approved, extended, or renewed prior
to the report date. However, if the amount currently outstanding as of the report date exceeds this size, the "original amount" is
the amount currently outstanding on the report date. (2) For loan participations and syndications, the "original amount" of the
loan participation or syndication is the entire amount of the credit originated by the lead lender. (3) For all other loans, the
"original amount" is the total amount of the loan at origination or the amount currently outstanding as of the report date,
whichever is larger.
Loans to Small Businesses
1. Indicate in the appropriate box at the right whether all or substantially all of the dollar volume of your
bank's "Loans secured by nonfarm nonresidential properties" in domestic offices reported in Schedule RC-C, ----------
part I, item 1.e, column B, and all or substantially all of the dollar volume of your bank's | C418 |
"Commercial and industrial loans to U.S. addressees" in domestic offices reported in Schedule RC-C, --------------------
part I, item 4.a, column B, have original amounts of $100,000 or less (If your bank has no loans | RCON YES NO |
outstanding in both of these two loan categories, place an "X" in the box marked "NO" and go to --------------------
item 5; otherwise, see instructions for further information.) ..................................... | 6999| |///| X | 1.
----------------------
If YES, complete items 2.a and 2.b below, skip items 3 and 4, and go to item 5.
If NO and your bank has loans outstanding in either loan category, skip items 2.a and 2.b, complete items 3 and 4 below, and go to
item 5.
----------------------
2. Report the total number of loans currently outstanding for each of the | Number of Loans |
--------------------
following Schedule RC-C, part I, loan categories: | RCON |//////////// |
------ |
a. "Loans secured by nonfarm nonresidential properties" in domestic | ////////////////// |
offices reported in Schedule RC-C, part I, item 1.e, column B ........... | 5562 N/A | 2.a.
b. "Commercial and industrial loans to U.S. addressees" in domestic | ////////////////// |
offices reported in Schedule RC-C, part I, item 4.a, column B ........... | 5563 N/A | 2.b.
----------------------
-------------------------------------------
| (Column A) | (Column B) |
| | Amount |
| | Currently |
| Number of Loans | Outstanding |
-------------------- --------------------
Dollar Amounts in Thousands | RCON |/////////////| RCON Bil Mil Thou |
- --------------------------------------------------------------------------------- ------ --------------------
3. Number and amount currently outstanding of "Loans secured by nonfarm | /////////////////////////////////////// |
nonresidential properties" in domestic offices reported in Schedule RC-C, | /////////////////////////////////////// |
part I, item 1.e, column B (sum of items 3.a through 3.c must be less than | /////////////////////////////////////// |
or equal to Schedule RC-C, part I, item 1.e, column B): | /////////////////////////////////////// |
a. With original amounts of $100,000 or less ................................ | 5564 781 | 5565 29,325 | 3.a.
b. With original amounts of more than $100,000 through $250,000 ............. | 5566 597 | 5567 67,240 | 3.b.
c. With original amounts of more than $250,000 through $1,000,000 ........... | 5568 656 | 5569 218,689 | 3.c.
4. Number and amount currently outstanding of "Commercial and industrial | /////////////////////////////////////// |
loans to U.S. addressees" in domestic offices reported in Schedule RC-C, | /////////////////////////////////////// |
part I, item 4.a, column B (sum of items 4.a through 4.c must be less than | /////////////////////////////////////// |
or equal to Schedule RC-C, part I, item 4.a, column B): | /////////////////////////////////////// |
a. With original amounts of $100,000 or less ................................ | 5570 11,332 | 5571 231,918 | 4.a.
b. With original amounts of more than $100,000 through $250,000 ............. | 5572 1,410 | 5573 156,428 | 4.b.
c. With original amounts of more than $250,000 through $1,000,000 ........... | 5574 1,470 | 5575 417,209 | 4.c.
-------------------------------------------
</TABLE>
17a
<PAGE> 27
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-7b
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-C--Continued
Part II. Continued
Agricultural Loans to Small Farms
5. Indicate in the appropriate box at the right whether all or substantially all of the dollar volume of
your bank's "Loans secured by farmland (including farm residential and other improvements)" in
domestic offices reported in Schedule RC-C, part I, item 1.b, column B, and all or substantially all
of the dollar volume of your bank's "Loans to finance agricultural production and other loans to
farmers" in domestic offices reported in Schedule RC-C, part I, item 3, column B, have original amounts
of $100,000 or less (If your bank has no loans outstanding in both of these two loan categories, YES NO
place an "X" in the box marked "NO" and do not complete items 7 and 8; otherwise, see instructions ----------------------
for further information.) ........................................................................ | 6860| |///| X | 5.
----------------------
If YES, complete items 6.a and 6.b below and do not complete items 7 and 8.
If NO and your bank has loans outstanding in either loan category, skip items 6.a and 6.b and complete items 7 and 8 below.
6. Report the total number of loans currently outstanding for each of the ----------------------
following Schedule RC-C, part I, loan categories: | Number of Loans |
--------------------
a. "Loans secured by farmland (including farm residential and other | RCON |//////////// |
------ |
improvements)" in domestic offices reported in Schedule RC-C, part I, | ////////////////// |
item 1.b, column B ....................................................... | 5576 N/A | 6.a.
b. "Loans to finance agricultural production and other loans to farmers" in | ////////////////// |
domestic offices reported in Schedule RC-C, part I, item 3, column B ..... | 5577 N/A | 6.b.
----------------------
-------------------------------------------
| (Column A) | (Column B) |
| | Amount |
| | Currently |
| Number of Loans | Outstanding |
-------------------- --------------------
Dollar Amounts in Thousands | RCON |/////////////| RCON Bil Mil Thou |
- --------------------------------------------------------------------------------- ------ --------------------|
7. Number and amount currently outstanding of "Loans secured by farmland | /////////////////////////////////////// |
(including farm residential and other improvements)" in domestic offices | /////////////////////////////////////// |
reported in Schedule RC-C, part I, item 1.b, column B (sum of items 7.a | /////////////////////////////////////// |
through 7.c must be less than or equal to Schedule RC-C, part I, item 1.b, | /////////////////////////////////////// |
column B): | /////////////////////////////////////// |
a. With original amounts of $100,000 or less ................................ | 5578 19 | 5579 519 | 7.a.
b. With original amounts of more than $100,000 through $250,000 ............. | 5580 13 | 5581 1,916 | 7.b.
c. With original amounts of more than $250,000 through $500,000 ............. | 5582 9 | 5583 2,232 | 7.c.
8. Number and amount currently outstanding of "Loans to finance agricultural | /////////////////////////////////////// |
production and other loans to farmers" in domestic offices reported in | /////////////////////////////////////// |
Schedule RC-C, part I, item 3, column B (sum of items 8.a through 8.c | /////////////////////////////////////// |
must be less than or equal to Schedule RC-C, part I, item 3, column B): | /////////////////////////////////////// |
a. With original amounts of $100,000 or less ................................ | 5584 125 | 5585 3,621 | 8.a.
b. With original amounts of more than $100,000 through $250,000 ............. | 5586 31 | 5587 3,701 | 8.b.
c. With original amounts of more than $250,000 through $500,000 ............. | 5588 18 | 5589 3,427 | 8.c.
-------------------------------------------
</TABLE>
17b
<PAGE> 28
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-8
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-D--Trading Assets and Liabilities
Schedule RC-D is to be completed only by banks with $1 billion or more in total assets or with $2 billion or more in par/notional
amount of off-balance sheet derivative contracts (as reported in Schedule RC-L, items 14.a through 14.e, columns A through D).
----------
| C420 | (-
----------------- --------
Dollar Amounts in Thousands | ///////// Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- -------------------------
ASSETS | /////////////////////// |
1. U.S. Treasury securities in domestic offices ................................................ | RCON 3531 1,987 | 1.
2. U.S. Government agency and corporation obligations in domestic offices (exclude mortgage- | /////////////////////// |
backed securities) .......................................................................... | RCON 3532 255 | 2.
3. Securities issued by states and political subdivisions in the U.S. in domestic offices ...... | RCON 3533 3,477 | 3.
4. Mortgage-backed securities (MBS) in domestic offices: | /////////////////////// |
a. Pass-through securities issued or guaranteed by FNMA, FHLMC, or GNMA ..................... | RCON 3534 0 | 4.a.
b. Other mortgage-backed securities issued or guaranteed by FNMA, FHLMC, or GNMA | /////////////////////// |
(include CMOs, REMICs, and stripped MBS) ................................................. | RCON 3535 0 | 4.b.
c. All other mortgage-backed securities ..................................................... | RCON 3536 0 | 4.c.
5. Other debt securities in domestic offices ................................................... | RCON 3537 0 | 5.
6. Certificates of deposit in domestic offices ................................................. | RCON 3538 0 | 6.
7. Commercial paper in domestic offices ........................................................ | RCON 3539 0 | 7.
8. Bankers acceptances in domestic offices ..................................................... | RCON 3540 0 | 8.
9. Other trading assets in domestic offices .................................................... | RCON 3541 15 | 9.
10. Trading assets in foreign offices ........................................................... | RCFN 3542 0 | 10.
11. Revaluation gains on interest rate, foreign exchange rate, and other commodity and equity | /////////////////////// |
contracts: | /////////////////////// |
a. In domestic offices ...................................................................... | RCON 3543 20,767 | 11.a.
b. In foreign offices ....................................................................... | RCFN 3544 0 | 11.b.
12. Total trading assets (sum of items 1 through 11) (must equal Schedule RC, item 5) ........... | RCFD 3545 26,501 | 12.
---------------------------
---------------------------
| ///////// Bil Mil Thou |
LIABILITIES -------------------------
13. Liability for short positions ............................................................... | RCFD 3546 0 | 13.
14. Revaluation losses on interest rate, foreign exchange rate, and other commodity and equity | /////////////////////// |
contracts ................................................................................... | RCFD 3547 15,672 | 14.
15. Total trading liabilities (sum of items 13 and 14) (must equal Schedule RC, item 15.b) ...... | RCFD 3548 15,672 | 15.
---------------------------
</TABLE>
18
<PAGE> 29
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-9
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-E--Deposit Liabilities
Part I. Deposits in Domestic Offices
----------
| C425 | (-
------------------------------------------------------ --------
| | Nontransaction |
| Transaction Accounts | Accounts |
----------------------------------------- --------------------
| (Column A) | (Column B) | (Column C) |
| Total transaction | Memo: Total | Total |
| accounts (including| demand deposits | nontransaction |
| total demand | (included in | accounts |
| deposits) | column A) | (including MMDAs) |
-------------------- -------------------- --------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou | RCON Bil Mil Thou | RCON Bil Mil Thou |
- ---------------------------------------------------------- -------------------- -------------------- --------------------
Deposits of: | ////////////////// | ////////////////// | ////////////////// |
1. Individuals, partnerships, and corporations .......... | 2201 5,560,725 | 2240 5,158,932 | 2346 9,011,941 | 1.
2. U.S. Government ...................................... | 2202 39,213 | 2280 39,202 | 2520 245 | 2.
3. States and political subdivisions in the U.S. ........ | 2203 110,890 | 2290 47,345 | 2530 161,786 | 3.
4. Commercial banks in the U.S. ......................... | 2206 341,092 | 2310 341,092 | 2550 0 | 4.
5. Other depository institutions in the U.S. ............ | 2207 14,561 | 2312 14,561 | 2349 0 | 5.
6. Banks in foreign countries ........................... | 2213 15,563 | 2320 15,563 | 2236 0 | 6.
7. Foreign governments and official institutions | ////////////////// | ////////////////// | ////////////////// |
(including foreign central banks) .................... | 2216 1,413 | 2300 1,413 | 2377 0 | 7.
8. Certified and official checks ........................ | 2330 84,015 | 2330 84,015 | ////////////////// | 8.
9. Total (sum of items 1 through 8) (sum of | ////////////////// | ////////////////// | ////////////////// |
columns A and C must equal Schedule RC, | ////////////////// | ////////////////// | ////////////////// |
item 13.a) ........................................... | 2215 6,167,472 | 2210 5,702,123 | 2385 9,173,972 | 9.
----------------------------------------------------------------
Memoranda
----------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- ---------------------------------------------------------------------------------------------------- --------------------
1. Selected components of total deposits (i.e., sum of item 9, columns A and C): | ////////////////// |
a. Total Individual Retirement Accounts (IRAs) and Keogh Plan accounts ......................... | 6835 783,090 | M.1.a.
b. Total brokered deposits ..................................................................... | 2365 0 | M.1.b.
c. Fully insured brokered deposits (included in Memorandum item 1.b above): | ////////////////// |
(1) Issued in denominations of less than $100,000 ........................................... | 2343 0 | M.1.c.(1)
(2) Issued either in denominations of $100,000 or in denominations greater than | ////////////////// |
$100,000 and participated out by the broker in shares of $100,000 or less ............... | 2344 0 | M.1.c.(2)
d. Maturity data for brokered deposits: | ////////////////// |
(1) Brokered deposits issued in denominations of less than $100,000 with a remaining | ////////////////// |
maturity of one year or less (included in Memorandum item 1.c.(1) above) ................ | A243 0 | M.1.d.(1)
(2) Brokered deposits issued in denominations of $100,000 or more with a remaining | ////////////////// |
maturity of one year or less (included in Memorandum item 1.b above) .................... | A244 0 | M.1.d.(2)
e. Preferred deposits (uninsured deposits of states and political subdivisions in the U.S. | ////////////////// |
reported in item 3 above which are secured or collateralized as required under state law) ... | 5590 244,686 | M.1.e.
2. Components of total nontransaction accounts (sum of Memorandum items 2.a through 2.d | ////////////////// |
must equal item 9, column C above): | ////////////////// |
a. Savings deposits: | ////////////////// |
(1) Money market deposit accounts (MMDAs) ................................................... | 6810 2,725,506 | M.2.a.(1)
(2) Other savings deposits (excludes MMDAs) ................................................. | 0352 2,929,288 | M.2.a.(2)
b. Total time deposits of less than $100,000 ................................................... | 6648 2,654,818 | M.2.b.
c. Time certificates of deposit of $100,000 or more ............................................ | 6645 849,161 | M.2.c.
d. Open-account time deposits of $100,000 or more .............................................. | 6646 15,199 | M.2.d.
3. All NOW accounts (included in column A above) .................................................. | 2398 465,349 | M.3.
----------------------
4. Not applicable
</TABLE>
19
<PAGE> 30
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-10
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-E--Continued
Part I. Continued
Memoranda (continued)
----------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
5. Maturity and repricing data for time deposits of less than $100,000 (sum of | ////////////////// |
Memorandum items 5.a.(1) through 5.b.(3) must equal Memorandum item 2.b above):(1) | ////////////////// |
a. Fixed rate time deposits of less than $100,000 with a remaining maturity of: | ////////////////// |
(1) Three months or less ................................................................... | A225 796,609 | M.5.a.(1)
(2) Over three months through 12 months .................................................... | A226 1,166,979 | M.5.a.(2)
(3) Over one year .......................................................................... | A227 619,730 | M.5.a.(3)
b. Floating rate time deposits of less than $100,000 with a repricing frequency of: | ////////////////// |
(1) Quarterly or more frequently ........................................................... | A228 23,928 | M.5.b.(1)
(2) Annually or more frequently, but less frequently than quarterly ........................ | A229 33,700 | M.5.b.(2)
(3) Less frequently than annually .......................................................... | A230 13,872 | M.5.b.(3)
c. Floating rate time deposits of less than $100,000 with a remaining maturity of | ////////////////// |
one year or less (included in Memorandum items 5.b.(1) through 5.b.(3) above) .............. | A231 57,503 | M.5.c.
6. Maturity and repricing data for time deposits of $100,000 or more (i.e., time certificates | ////////////////// |
of deposit of $100,000 or more and open-account time deposits of $100,000 or more) | ////////////////// |
(sum of Memorandum items 6.a.(1) through 6.b.(4) must equal the sum of Memorandum | ////////////////// |
items 2.c and 2.d above):(1) | ////////////////// |
a. Fixed rate time deposits of $100,000 or more with a remaining maturity of: | ////////////////// |
(1) Three months or less ................................................................... | A232 478,226 | M.6.a.(1)
(2) Over three months through 12 months .................................................... | A233 303,697 | M.6.a.(2)
(3) Over one year through five years ....................................................... | A234 68,142 | M.6.a.(3)
(4) Over five years ........................................................................ | A235 861 | M.6.a.(4)
b. Floating rate time deposits of $100,000 or more with a repricing frequency of: | ////////////////// |
(1) Quarterly or more frequently ........................................................... | A236 10,723 | M.6.b.(1)
(2) Annually or more frequently, but less frequently than quarterly ........................ | A237 2,711 | M.6.b.(2)
(3) Every five years or more frequently, but less frequently than annually ................. | A238 0 | M.6.b.(3)
(4) Less frequently than every five years .................................................. | A239 0 | M.6.b.(4)
c. Floating rate time deposits of $100,000 or more with a remaining maturity of | ////////////////// |
one year or less (included in Memorandum items 6.b.(1) through 6.b.(4) above) .............. | A240 10,696 | M.6.c.
----------------------
- -------------
(1) Memorandum items 5 and 6 are not applicable to savings banks that must complete supplemental Schedule RC-J.
</TABLE>
20
<PAGE> 31
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-11
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-E--Continued
Part II. Deposits in Foreign Offices (including Edge and Agreement subsidiaries and IBFs)
----------------------
Dollar Amounts in Thousands | RCFN Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
Deposits of: | ////////////////// |
1. Individuals, partnerships, and corporations ................................................... | 2621 320,667 | 1.
2. U.S. banks (including IBFs and foreign branches of U.S. banks) ................................ | 2623 0 | 2.
3. Foreign banks (including U.S. branches and agencies of foreign banks, including their IBFs) ... | 2625 0 | 3.
4. Foreign governments and official institutions (including foreign central banks) ............... | 2650 0 | 4.
5. Certified and official checks ................................................................. | 2330 0 | 5.
6. All other deposits ............................................................................ | 2668 0 | 6.
7. Total (sum of items 1 through 6) (must equal Schedule RC, item 13.b) .......................... | 2200 320,667 | 7.
----------------------
Memorandum ----------------------
Dollar Amounts in Thousands | RCFN Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Time deposits with a remaining maturity of one year or less (included in Part II, item 7 above) | A245 320,160 | M.1.
----------------------
Schedule RC-F--Other Assets
----------
| C430 | (-
----------------- --------
Dollar Amounts in Thousands | ////////// Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- -------------------------
1. Income earned, not collected on loans ........................................................ | RCFD 2164 102,082 | 1.
2. Net deferred tax assets(1) ................................................................... | RCFD 2148 98,069 | 2.
3. Excess residential mortgage servicing fees receivable ........................................ | RCFD 5371 0 | 3.
4. Other (itemize and describe amounts that exceed 25% of this item) ............................ | RCFD 2168 198,614 | 4.
------------- --------------------------- |
a. | TEXT 3549 |----------------------------------------------------| RCFD 3549 | | /////////////////////// | 4.a.
----------- NET SWAP INTERST RECEIVABLE | | 59,963 | |
b. | TEXT 3550 |----------------------------------------------------| RCFD 3550 | | /////////////////////// | 4.b.
----------- | | | |
c. | TEXT 3551 |----------------------------------------------------| RCFD 3551 | | /////////////////////// | 4.c.
------------- ---------------------------- |
5. Total (sum of items 1 through 4) (must equal Schedule RC, item 11) ........................... | RCFD 2160 398,765 | 5.
---------------------------
---------------------------
Memorandum Dollar Amounts in Thousands | ////////// Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- -------------------------
1. Deferred tax assets disallowed for regulatory capital purposes ............................... | RCFD 5610 0 | M.1.
---------------------------
Schedule RC-G--Other Liabilities
----------
| C435 | (-
----------------- --------
Dollar Amounts in Thousands | ////////// Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- -------------------------
1. a. Interest accrued and unpaid on deposits in domestic offices(2) ............................ | RCON 3645 27,012 | 1.a.
b. Other expenses accrued and unpaid (includes accrued income taxes payable) ................. | RCFD 3646 174,668 | 1.b.
2. Net deferred tax liabilities(1) .............................................................. | RCFD 3049 0 | 2.
3. Minority interest in consolidated subsidiaries ............................................... | RCFD 3000 0 | 3.
4. Other (itemize and describe amounts that exceed 25% of this item) ............................ | RCFD 2938 95,251 | 4.
------------- --------------------------- |
a. | TEXT 3552 |----------------------------------------------------| RCFD 3552 | | /////////////////////// | 4.a.
----------- UNSETTLED SECURITY PURCHASE AFS | | 68,924 | |
b. | TEXT 3553 |----------------------------------------------------| RCFD 3553 | | /////////////////////// | 4.b.
----------- | | | |
c. | TEXT 3554 |----------------------------------------------------| RCFD 3554 | | /////////////////////// | 4.c.
------------- --------------------------- |
5. Total (sum of items 1 through 4) (must equal Schedule RC, item 20) ........................... | RCFD 2930 296,931 | 5.
---------------------------
- ------------
(1) See discussion of deferred income taxes in Glossary entry on "income taxes."
(2) For savings banks, include "dividends" accrued and unpaid on deposits.
</TABLE>
21
<PAGE> 32
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-12
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-H--Selected Balance Sheet Items for Domestic Offices
----------
| C440 | (-
------------ --------
| Domestic Offices |
--------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- ----------------------------------------------------------------------------------------------------- --------------------
1. Customers' liability to this bank on acceptances outstanding .................................... | 2155 10,277 | 1.
2. Bank's liability on acceptances executed and outstanding ........................................ | 2920 10,277 | 2.
3. Federal funds sold and securities purchased under agreements to resell .......................... | 1350 1,789,196 | 3.
4. Federal funds purchased and securities sold under agreements to repurchase ...................... | 2800 1,211,601 | 4.
5. Other borrowed money ............................................................................ | 3190 14,893 | 5.
EITHER | ////////////////// |
6. Net due from own foreign offices, Edge and Agreement subsidiaries, and IBFs ..................... | 2163 N/A | 6.
OR | ////////////////// |
7. Net due to own foreign offices, Edge and Agreement subsidiaries, and IBFs ....................... | 2941 211,290 | 7.
8. Total assets (excludes net due from foreign offices, Edge and Agreement subsidiaries, and | ////////////////// |
IBFs) ........................................................................................... | 2192 20,676,867 | 8.
9. Total liabilities (excludes net due to foreign offices, Edge and Agreement subsidiaries, and | ////////////////// |
IBFs) ........................................................................................... | 3129 18,805,812 | 9.
----------------------
Items 10-17 include held-to-maturity and available-for-sale securities in domestic offices. ----------------------
| RCON Bil Mil Thou |
--------------------
10. U.S. Treasury securities ....................................................................... | 1779 599,461 | 10.
11. U.S. Government agency and corporation obligations (exclude mortgage-backed | ////////////////// |
securities) .................................................................................... | 1785 36 | 11.
12. Securities issued by states and political subdivisions in the U.S. ............................. | 1786 299 | 12.
13. Mortgage-backed securities (MBS): | ////////////////// |
a. Pass-through securities: | ////////////////// |
(1) Issued or guaranteed by FNMA, FHLMC, or GNMA ............................................ | 1787 3,101,849 | 13.a.(1)
(2) Other pass-through securities ........................................................... | 1869 0 | 13.a.(2)
b. Other mortgage-backed securities (include CMOs, REMICs, and stripped MBS): | ////////////////// |
(1) Issued or guaranteed by FNMA, FHLMC, or GNMA ............................................ | 1877 0 | 13.b.(1)
(2) All other mortgage-backed securities .................................................... | 2253 3,268 | 13.b.(2)
14. Other domestic debt securities ................................................................. | 3159 0 | 14.
15. Foreign debt securities ........................................................................ | 3160 0 | 15.
16. Equity securities: | ////////////////// |
a. Investments in mutual funds ................................................................. | 3161 0 | 16.a.
b. Other equity securities with readily determinable fair values ............................... | 3162 0 | 16.b.
c. All other equity securities ................................................................. | 3169 46,127 | 16.c.
17. Total held-to-maturity and available-for-sale securities (sum of items 10 through 16) .......... | 3170 3,751,040 | 17.
----------------------
Memorandum (to be completed only by banks with IBFs and other "foreign" offices)
----------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- ----------------------------------------------------------------------------------------------------- --------------------
EITHER | ////////////////// |
1. Net due from the IBF of the domestic offices of the reporting bank .............................. | 3051 N/A | M.1.
OR | ////////////////// |
2. Net due to the IBF of the domestic offices of the reporting bank ................................ | 3059 N/A | M.2.
----------------------
</TABLE>
22
<PAGE> 33
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-13
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-I--Selected Assets and Liabilities of IBFs
To be completed only by banks with IBFs and other "foreign" offices. ----------
| C445 | (-
------------ --------
Dollar Amounts in Thousands | RCFN Bil Mil Thou |
- ---------------------------------------------------------------------------------------------------- --------------------
1. Total IBF assets of the consolidated bank (component of Schedule RC, item 12) ................. | 2133 N/A | 1.
2. Total IBF loans and lease financing receivables (component of Schedule RC-C, part I, | ////////////////// |
item 12, column A) ............................................................................ | 2076 N/A | 2.
3. IBF commercial and industrial loans (component of Schedule RC-C, part I, item 4, | ////////////////// |
column A) ..................................................................................... | 2077 N/A | 3.
4. Total IBF liabilities (component of Schedule RC, item 21) ..................................... | 2898 N/A | 4.
5. IBF deposit liabilities due to banks, including other IBFs (component of Schedule RC-E, | ////////////////// |
part II, items 2 and 3) ....................................................................... | 2379 N/A | 5.
6. Other IBF deposit liabilities (component of Schedule RC-E, part II, items 1, 4, 5, and 6) ..... | 2381 N/A | 6.
----------------------
Schedule RC-K--Quarterly Averages(1)
----------
| C455 | (-
----------------- --------
Dollar Amounts in Thousands | ///////// Bil Mil Thou |
- ----------------------------------------------------------------------------------------------- -------------------------
ASSETS | /////////////////////// |
1. Interest-bearing balances due from depository institutions ............................... | RCFD 3381 5,108 | 1.
2. U.S. Treasury securities and U.S. Government agency and corporation obligations(2) ....... | RCFD 3382 3,826,844 | 2.
3. Securities issued by states and political subdivisions in the U.S.(2) .................... | RCFD 3383 299 | 3.
4. a. Other debt securities(2) .............................................................. | RCFD 3647 3,300 | 4.a.
b. Equity securities(3) (includes investments in mutual funds and Federal Reserve stock) . | RCFD 3648 46,127 | 4.b.
5. Federal funds sold and securities purchased under agreements to resell in domestic offices | /////////////////////// |
of the bank and of its Edge and Agreement subsidiaries, and in IBFs ...................... | RCFD 3365 616,920 | 5.
6. Loans: | /////////////////////// |
a. Loans in domestic offices: | /////////////////////// |
(1) Total loans ....................................................................... | RCON 3360 11,947,333 | 6.a.(1)
(2) Loans secured by real estate ...................................................... | RCON 3385 2,563,218 | 6.a.(2)
(3) Loans to finance agricultural production and other loans to farmers ............... | RCON 3386 65,149 | 6.a.(3)
(4) Commercial and industrial loans ................................................... | RCON 3387 5,998,153 | 6.a.(4)
(5) Loans to individuals for household, family, and other personal expenditures ....... | RCON 3388 2,340,499 | 6.a.(5)
b. Total loans in foreign offices, Edge and Agreement subsidiaries, and IBFs ............. | RCFN 3360 112,629 | 6.b.
7. Trading assets ........................................................................... | RCFD 3401 30,425 | 7.
8. Lease financing receivables (net of unearned income) ..................................... | RCFD 3484 152,674 | 8.
9. Total assets(4) .......................................................................... | RCFD 3368 19,879,684 | 9.
LIABILITIES | /////////////////////// |
10. Interest-bearing transaction accounts in domestic offices (NOW accounts, ATS accounts, | /////////////////////// |
and telephone and preauthorized transfer accounts) (exclude demand deposits) ............. | RCON 3485 415,579 | 10.
11. Nontransaction accounts in domestic offices: | /////////////////////// |
a. Money market deposit accounts (MMDAs) ................................................. | RCON 3486 2,794,960 | 11.a.
b. Other savings deposits ................................................................ | RCON 3487 2,944,928 | 11.b.
c. Time certificates of deposit of $100,000 or more ...................................... | RCON 3345 842,531 | 11.c.
d. All other time deposits ............................................................... | RCON 3469 2,687,600 | 11.d.
12. Interest-bearing deposits in foreign offices, Edge and Agreement subsidiaries, and IBFs .. | RCFN 3404 343,692 | 12.
13. Federal funds purchased and securities sold under agreements to repurchase in domestic | /////////////////////// |
offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs .............. | RCFD 3353 1,220,916 | 13.
14. Other borrowed money ..................................................................... | RCFD 3355 27,745 | 14.
---------------------------
- -------------
(1) For all items, banks have the option of reporting either (1) an average of daily figures for the quarter, or (2) an average of
weekly figures (i.e., the Wednesday of each week of the quarter).
(2) Quarterly averages for all debt securities should be based on amortized cost.
(3) Quarterly averages for all equity securities should be based on historical cost.
(4) The quarterly average for total assets should reflect all debt securities (not held for trading) at amortized cost, equity
securities with readily determinable fair values at the lower of cost or fair value, and equity securities without readily
determinable fair values at historical cost.
</TABLE>
23
<PAGE> 34
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-14
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-L--Off-Balance Sheet Items
Please read carefully the instructions for the preparation of Schedule RC-L. Some of the amounts
reported in Schedule RC-L are regarded as volume indicators and not necessarily as measures of risk. ----------
| C460 | (-
------------ --------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ---------------------------------------------------------------------------------------------------- --------------------
1. Unused commitments: | ////////////////// |
a. Revolving, open-end lines secured by 1-4 family residential properties, e.g., home equity | ////////////////// |
lines ...................................................................................... | 3814 0 | 1.a.
b. Credit card lines .......................................................................... | 3815 0 | 1.b.
c. Commercial real estate, construction, and land development: | ////////////////// |
(1) Commitments to fund loans secured by real estate ....................................... | 3816 376,776 | 1.c.(1)
(2) Commitments to fund loans not secured by real estate ................................... | 6550 259,962 | 1.c.(2)
d. Securities underwriting .................................................................... | 3817 0 | 1.d.
e. Other unused commitments ................................................................... | 3818 7,920,509 | 1.e.
2. Financial standby letters of credit and foreign office guarantees ............................. | 3819 1,018,656 | 2.
--------------------------- |
a. Amount of financial standby letters of credit conveyed to others | RCFD 3820 | 102,711 | ////////////////// | 2.a.
--------------------------- |
3. Performance standby letters of credit and foreign office guarantees ........................... | 3821 102,391 | 3.
--------------------------- |
a. Amount of performance standby letters of credit conveyed to others| RCFD 3822 | 2,799 | ////////////////// | 3.a.
--------------------------- |
4. Commercial and similar letters of credit ...................................................... | 3411 194,001 | 4.
5. Participations in acceptances (as described in the instructions) conveyed to others by the | ////////////////// |
reporting bank ................................................................................ | 3428 0 | 5.
6. Participations in acceptances (as described in the instructions) acquired by the reporting | ////////////////// |
(nonaccepting) bank ........................................................................... | 3429 0 | 6.
7. Securities borrowed ........................................................................... | 3432 79,067 | 7.
8. Securities lent (including customers' securities lent where the customer is indemnified against | ////////////////// |
loss by the reporting bank) ................................................................... | 3433 17,973 | 8.
9. Loans transferred (i.e., sold or swapped) with recourse that have been treated as sold for | ////////////////// |
Call Report purposes: | ////////////////// |
a. FNMA and FHLMC residential mortgage loan pools: | ////////////////// |
(1) Outstanding principal balance of mortgages transferred as of the report date ........... | 3650 0 | 9.a.(1)
(2) Amount of recourse exposure on these mortgages as of the report date ................... | 3651 0 | 9.a.(2)
b. Private (nongovernment-issued or -guaranteed) residential mortgage loan pools: | ////////////////// |
(1) Outstanding principal balance of mortgages transferred as of the report date ........... | 3652 0 | 9.b.(1)
(2) Amount of recourse exposure on these mortgages as of the report date ................... | 3653 0 | 9.b.(2)
c. Farmer Mac agricultural mortgage loan pools: | ////////////////// |
(1) Outstanding principal balance of mortgages transferred as of the report date ........... | 3654 0 | 9.c.(1)
(2) Amount of recourse exposure on these mortgages as of the report date ................... | 3655 0 | 9.c.(2)
d. Small business obligations transferred with recourse under Section 208 of the | ////////////////// |
Riegle Community Development and Regulatory Improvement Act of 1994: | ////////////////// |
(1) Outstanding principal balance of small business obligations transferred | ////////////////// |
as of the report date .................................................................. | A249 0 | 9.d.(1)
(2) Amount of retained recourse on these obligations as of the report date ................. | A250 0 | 9.d.(2)
10. When-issued securities: | ////////////////// |
a. Gross commitments to purchase .............................................................. | 3434 7,415 | 10.a.
b. Gross commitments to sell .................................................................. | 3435 6,975 | 10.b.
11. Spot foreign exchange contracts ............................................................... | 8765 482,982 | 11.
12. All other off-balance sheet liabilities (exclude off-balance sheet derivatives) (itemize and | ////////////////// |
describe each component of this item over 25% of Schedule RC, item 28, "Total equity capital") | 3430 0 | 12.
| ////////////////// |
------------- --------------------------- |
a. | TEXT 3555 |-----------------------------------------------------| RCFD 3555 | | ////////////////// | 12.a.
----------- | | | |
b. | TEXT 3556 |-----------------------------------------------------| RCFD 3556 | | ////////////////// | 12.b.
----------- | | | |
c. | TEXT 3557 |-----------------------------------------------------| RCFD 3557 | | ////////////////// | 12.c.
----------- | | | |
d. | TEXT 3558 |-----------------------------------------------------| RCFD 3558 | | ////////////////// | 12.d.
------------- -------------------------------------------------
</TABLE>
24
<PAGE> 35
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-15
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-L--Continued
----------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ---------------------------------------------------------------------------------------------------- --------------------
13. All other off-balance sheet assets (exclude off-balance sheet derivatives) (itemize and | ////////////////// |
describe each component of this item over 25% of Schedule RC, item 28, "Total equity capital") | 5591 0 | 13.
| ////////////////// |
------------- --------------------------- |
a. | TEXT 5592 |-----------------------------------------------------| RCFD 5592 | | ////////////////// | 13.a.
----------- | | | |
b. | TEXT 5593 |-----------------------------------------------------| RCFD 5593 | | ////////////////// | 13.b.
----------- | | | |
c. | TEXT 5594 |-----------------------------------------------------| RCFD 5594 | | ////////////////// | 13.c.
----------- | | | |
d. | TEXT 5595 |-----------------------------------------------------| RCFD 5595 | | ////////////////// | 13.d.
------------- -------------------------------------------------
------------
| C461 | (-
----------------------------------------------------------------- ----------
| (Column A) | (Column B) | (Column C) | (Column D) |
Dollar Amounts in Thousands | Interest Rate | Foreign Exchange | Equity Derivative| Commodity and |
- --------------------------------------------- | | | |
| Off-balance Sheet Derivatives | Contracts | Contracts | Contracts | Other Contracts |
| ------------------ ------------------ ------------------ ------------------
| Position Indicators |Tril Bil Mil Thou |Tril Bil Mil Thou |Tril Bil Mil Thou |Tril Bil Mil Thou |
- --------------------------------------------- ------------------ ------------------ ------------------ ------------------
14. Gross amounts (e.g., notional | //////////////// | //////////////// | //////////////// | //////////////// |
amounts) (for each column, sum of | //////////////// | //////////////// | //////////////// | //////////////// |
items 14.a through 14.e must equal | //////////////// | //////////////// | //////////////// | //////////////// |
sum of items 15, 16.a, and 16.b): | //////////////// | //////////////// | //////////////// | //////////////// |
------------------ ------------------ ------------------ ------------------
a. Futures contracts ................... | 0 | 0 | 0 | 0 | 14.a.
------------------ ------------------ ------------------ ------------------
| RCFD 8693 | RCFD 8694 | RCFD 8695 | RCFD 8696 |
------------------ ------------------ ------------------ ------------------
b. Forward contracts ................... | 33,476 | 320,460 | 0 | 0 | 14.b.
------------------ ------------------ ------------------ ------------------
| RCFD 8697 | RCFD 8698 | RCFD 8699 | RCFD 8700 |
------------------ ------------------ ------------------ ------------------
c. Exchange-traded option contracts: | //////////////// | //////////////// | //////////////// | //////////////// |
------------------ ------------------ ------------------ ------------------
(1) Written options ................. | 1,500,000 | 0 | 0 | 0 | 14.c.(1)
------------------ ------------------ ------------------ ------------------|
| RCFD 8701 | RCFD 8702 | RCFD 8703 | RCFD 8704 |
------------------ ------------------ ------------------ ------------------
(2) Purchased options ............... | 1,500,000 | 0 | 0 | 0 | 14.c.(2)
------------------ ------------------ ------------------ ------------------|
| RCFD 8705 | RCFD 8706 | RCFD 8707 | RCFD 8708 |
------------------ ------------------ ------------------ ------------------
d. Over-the-counter option contracts: | //////////////// | //////////////// | //////////////// | //////////////// |
------------------ ------------------ ------------------ ------------------
(1) Written options ................. | 275,423 | 0 | 0 | 1,025 | 14.d.(1)
------------------ ------------------ ------------------ ------------------|
| RCFD 8709 | RCFD 8710 | RCFD 8711 | RCFD 8712 |
------------------ ------------------ ------------------ ------------------
(2) Purchased options ............... | 1,480,423 | 11,050 | 0 | 1,025 | 14.d.(2)
------------------ ------------------ ------------------ ------------------|
| RCFD 8713 | RCFD 8714 | RCFD 8715 | RCFD 8716 |
------------------ ------------------ ------------------ ------------------
e. Swaps ............................... | 5,110,300 | 0 | 0 | 11,540 | 14.e.
------------------ ------------------ ------------------ ------------------
| RCFD 3450 | RCFD 3826 | RCFD 8719 | RCFD 8720 |
------------------ ------------------ ------------------ ------------------
15. Total gross notional amount of | //////////////// | //////////////// | //////////////// | //////////////// |
derivative contracts held for trading .. | 3,030,092 | 331,510 | 0 | 13,590 | 15.
------------------ ------------------ ------------------ ------------------
| RCFD A126 | RCFD A127 | RCFD 8723 | RCFD 8724 |
------------------ ------------------ ------------------ ------------------
16. Total gross notional amount of | //////////////// | //////////////// | //////////////// | //////////////// |
derivative contracts held for | //////////////// | //////////////// | //////////////// | //////////////// |
purposes other than trading: | //////////////// | //////////////// | //////////////// | //////////////// |
------------------ ------------------ ------------------ ------------------
a. Contracts marked to market .......... | 2,185,000 | 0 | 0 | 0 | 16.a.
------------------ ------------------ ------------------ ------------------
| RCFD 8725 | RCFD 8726 | RCFD 8727 | RCFD 8728 |
------------------ ------------------ ------------------ ------------------
b. Contracts not marked to market ...... | 4,684,530 | 0 | 0 | 0 | 16.b.
------------------ ------------------ ------------------ ------------------
| RCFD 8729 | RCFD 8730 | RCFD 8731 | RCFD 8732 |
-----------------------------------------------------------------------------
</TABLE>
25
<PAGE> 36
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-16
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-L--Continued
-------------------------------------------------------------------------------------
| (Column A) | (Column B) | (Column C) | (Column D) |
Dollar Amounts in Thousands | Interest Rate | Foreign Exchange | Equity Derivative | Commodity and |
- ------------------------------------- | | | |
| Off-balance Sheet Derivatives | Contracts | Contracts | Contracts | Other Contracts |
| -------------------- -------------------- -------------------- --------------------
| Position Indicators | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- ------------------------------------- -------------------- -------------------- -------------------- --------------------
17. Gross fair values of | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
derivative contracts: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
a. Contracts held for | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
trading: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(1) Gross positive | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8733 23,570 | 8734 6,112 | 8735 0 | 8736 3,230 | 17.a.(1)
(2) Gross negative | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8737 18,724 | 8738 6,001 | 8739 0 | 8740 3,054 | 17.a.(2)
b. Contracts held for | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
purposes other than | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
trading that are marked | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
to market: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(1) Gross positive | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8741 743 | 8742 0 | 8743 0 | 8744 0 | 17.b.(1)
(2) Gross negative | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8745 2,787 | 8746 0 | 8747 0 | 8748 0 | 17.b.(2)
c. Contracts held for | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
purposes other than | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
trading that are not | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
marked to market: | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
(1) Gross positive | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8749 52,042 | 8750 0 | 8751 0 | 8752 0 | 17.c.(1)
(2) Gross negative | ////////////////// | ////////////////// | ////////////////// | ////////////////// |
fair value .............. | 8753 955 | 8754 0 | 8755 0 | 8756 0 | 17.c.(2)
-------------------------------------------------------------------------------------
----------------------
Memoranda Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ---------------------------------------------------------------------------------------------------- --------------------
1.-2. Not applicable | ////////////////// |
3. Unused commitments with an original maturity exceeding one year that are reported in | ////////////////// |
Schedule RC-L, items 1.a through 1.e, above (report only the unused portions of commitments | ////////////////// |
that are fee paid or otherwise legally binding) ............................................... | 3833 4,876,782 | M.3.
a. Participations in commitments with an original maturity | ////////////////// |
--------------------------- |
exceeding one year conveyed to others ........................... | RCFD 3834 | 7,250 | ////////////////// | M.3.a.
--------------------------- |
4. To be completed only by banks with $1 billion or more in total assets: | ////////////////// |
Standby letters of credit and foreign office guarantees (both financial and performance) issued | ////////////////// |
to non-U.S. addressees (domicile) included in Schedule RC-L, items 2 and 3, above ............. | 3377 46,326 | M.4.
5. Installment loans to individuals for household, family, and other personal expenditures that | ////////////////// |
have been securitized and sold without recourse (with servicing retained), amounts outstanding | ////////////////// |
by type of loan: | ////////////////// |
a. Loans to purchase private passenger automobiles (to be completed for the | ////////////////// |
September report only) ..................................................................... | 2741 N/A | M.5.a.
b. Credit cards and related plans (TO BE COMPLETED QUARTERLY) ................................. | 2742 0 | M.5.b.
c. All other consumer installment credit (including mobile home loans)(to be completed for the | ////////////////// |
September report only) ..................................................................... | 2743 N/A | M.5.c.
----------------------
</TABLE>
26
<PAGE> 37
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-17
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-M--Memoranda
----------
| C465 | (-
------------ --------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ------------------------------------------------------------------------------------------------------ --------------------
1. Extensions of credit by the reporting bank to its executive officers, directors, principal | ////////////////// |
shareholders, and their related interests as of the report date: | ////////////////// |
a. Aggregate amount of all extensions of credit to all executive officers, directors, principal | ////////////////// |
shareholders, and their related interests ..................................................... | 6164 22,181 | 1.a.
b. Number of executive officers, directors, and principal shareholders to whom the amount of | ////////////////// |
all extensions of credit by the reporting bank (including extensions of credit to | ////////////////// |
related interests) equals or exceeds the lesser of $500,000 or 5 percent Number | ////////////////// |
of total capital as defined for this purpose in agency regulations. --------------------------- |
| RCFD 6165 | 3 | ////////////////// | 1.b.
--------------------------- |
2. Federal funds sold and securities purchased under agreements to resell with U.S. branches | ////////////////// |
and agencies of foreign banks(1) (included in Schedule RC, items 3.a and 3.b) .................... | 3405 0 | 2.
3. Not applicable. | ////////////////// |
4. Outstanding principal balance of 1-4 family residential mortgage loans serviced for others | ////////////////// |
(include both retained servicing and purchased servicing): | ////////////////// |
a. Mortgages serviced under a GNMA contract ...................................................... | 5500 0 | 4.a.
b. Mortgages serviced under a FHLMC contract: | ////////////////// |
(1) Serviced with recourse to servicer ........................................................ | 5501 0 | 4.b.(1)
(2) Serviced without recourse to servicer ..................................................... | 5502 0 | 4.b.(2)
c. Mortgages serviced under a FNMA contract: | ////////////////// |
(1) Serviced under a regular option contract .................................................. | 5503 0 | 4.c.(1)
(2) Serviced under a special option contract .................................................. | 5504 0 | 4.c.(2)
d. Mortgages serviced under other servicing contracts ............................................ | 5505 0 | 4.d.
5. To be completed only by banks with $1 billion or more in total assets: | ////////////////// |
Customers' liability to this bank on acceptances outstanding (sum of items 5.a and 5.b must | ////////////////// |
equal Schedule RC, item 9): | ////////////////// |
a. U.S. addressees (domicile) .................................................................... | 2103 5,072 | 5.a.
b. Non-U.S. addressees (domicile) ................................................................ | 2104 5,205 | 5.b.
6. Intangible assets: | ////////////////// |
a. Mortgage servicing rights ..................................................................... | 3164 0 | 6.a.
b. Other identifiable intangible assets: | ////////////////// |
(1) Purchased credit card relationships ....................................................... | 5506 0 | 6.b.(1)
(2) All other identifiable intangible assets .................................................. | 5507 106,238 | 6.b.(2)
c. Goodwill ...................................................................................... | 3163 336,161 | 6.c.
d. Total (sum of items 6.a through 6.c) (must equal Schedule RC, item 10) ........................ | 2143 442,399 | 6.d.
e. Amount of intangible assets (included in item 6.b.(2) above) that have been grandfathered or | ////////////////// |
are otherwise qualifying for regulatory capital purposes ...................................... | 6442 0 | 6.e.
7. Mandatory convertible debt, net of common or perpetual preferred stock dedicated to | ////////////////// |
redeem the debt .................................................................................. | 3295 0 | 7.
----------------------
- -------------
(1) Do not report federal funds sold and securities purchased under agreements to resell with other commercial banks in the U.S.
in this item.
</TABLE>
27
<PAGE> 38
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-18
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-M--Continued
---------------------------
Dollar Amounts in Thousands | Bil Mil Thou |
- --------------------------------------------------------------------------------------------- -------------------------
8. a. Other real estate owned: | /////////////////////// |
(1) Direct and indirect investments in real estate ventures ......................... | RCFD 5372 0 | 8.a.(1)
(2) All other real estate owned: | /////////////////////// |
(a) Construction and land development in domestic offices ....................... | RCON 5508 2,523 | 8.a.(2)(a)
(b) Farmland in domestic offices ................................................ | RCON 5509 0 | 8.a.(2)(b)
(c) 1-4 family residential properties in domestic offices ....................... | RCON 5510 339 | 8.a.(2)(c)
(d) Multifamily (5 or more) residential properties in domestic offices .......... | RCON 5511 0 | 8.a.(2)(d)
(e) Nonfarm nonresidential properties in domestic offices ....................... | RCON 5512 10,781 | 8.a.(2)(e)
(f) In foreign offices .......................................................... | RCFN 5513 0 | 8.a.(2)(f)
(3) Total (sum of items 8.a.(1) and 8.a.(2)) (must equal Schedule RC, item 7) ....... | RCFD 2150 13,643 | 8.a.(3)
b. Investments in unconsolidated subsidiaries and associated companies: | /////////////////////// |
(1) Direct and indirect investments in real estate ventures ......................... | RCFD 5374 0 | 8.b.(1)
(2) All other investments in unconsolidated subsidiaries and associated companies ... | RCFD 5375 0 | 8.b.(2)
(3) Total (sum of items 8.b.(1) and 8.b.(2)) (must equal Schedule RC, item 8) ....... | RCFD 2130 0 | 8.b.(3)
c. Total assets of unconsolidated subsidiaries and associated companies ................ | RCFD 5376 0 | 8.c.
9. Noncumulative perpetual preferred stock and related surplus included in Schedule RC, | /////////////////////// |
item 23, "Perpetual preferred stock and related surplus" ............................... | RCFD 3778 0 | 9.
10. Mutual fund and annuity sales in domestic offices during the quarter (include | /////////////////////// |
proprietary, private label, and third party products): | /////////////////////// |
a. Money market funds .................................................................. | RCON 6441 7,017,685 | 10.a.
b. Equity securities funds ............................................................. | RCON 8427 0 | 10.b.
c. Debt securities funds ............................................................... | RCON 8428 0 | 10.c.
d. Other mutual funds .................................................................. | RCON 8429 48,925 | 10.d.
e. Annuities ........................................................................... | RCON 8430 11,720 | 10.e.
f. Sales of proprietary mutual funds and annuities (included in items 10.a through | /////////////////////// |
10.e above) ......................................................................... | RCON 8784 4,047,691 | 10.f.
---------------------------
- ---------------------------------------------------------------------------------------------------------------------------------
| ---------------------- |
|Memorandum Dollar Amounts in Thousands | RCFD Bil Mil Thou | |
|------------------------------------------------------------------------------------------------- -------------------- |
|1. Interbank holdings of capital instruments (to be completed for the December report only): | ////////////////// | |
| a. Reciprocal holdings of banking organizations' capital instruments ........................ | 3836 N/A | M.1.a. |
| b. Nonreciprocal holdings of banking organizations' capital instruments ..................... | 3837 N/A | M.1.b. |
| ---------------------- |
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
28
<PAGE> 39
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-19
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-N--Past Due and Nonaccrual Loans, Leases, and Other Assets
The FFIEC regards the information reported in ----------
all of Memorandum item 1, in items 1 through 10, | C470 | (-
------------------------------------------------------ --------
column A, and in Memorandum items 2 through 4, | (Column A) | (Column B) | (Column C) |
column A, as confidential. | Past due | Past due 90 | Nonaccrual |
| 30 through 89 | days or more | |
| days and still | and still | |
| accruing | accruing | |
-------------------- -------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- ------------------------------------------------------ -------------------- -------------------- --------------------
1. Loans secured by real estate: | ////////////////// | ////////////////// | ////////////////// |
a. To U.S. addressees (domicile) ................ | 1245 79,679 | 1246 15,054 | 1247 68,846 | 1.a.
b. To non-U.S. addressees (domicile) ............ | 1248 0 | 1249 0 | 1250 0 | 1.b.
2. Loans to depository institutions and acceptances | ////////////////// | ////////////////// | ////////////////// |
of other banks: | ////////////////// | ////////////////// | ////////////////// |
a. To U.S. banks and other U.S. depository | ////////////////// | ////////////////// | ////////////////// |
institutions ................................. | 5377 0 | 5378 0 | 5379 0 | 2.a.
b. To foreign banks ............................. | 5380 300 | 5381 0 | 5382 0 | 2.b.
3. Loans to finance agricultural production and | ////////////////// | ////////////////// | ////////////////// |
other loans to farmers .......................... | 1594 1,473 | 1597 0 | 1583 2,461 | 3.
4. Commercial and industrial loans: | ////////////////// | ////////////////// | ////////////////// |
a. To U.S. addressees (domicile) ................ | 1251 105,551 | 1252 17,336 | 1253 57,982 | 4.a.
b. To non-U.S. addressees (domicile) ............ | 1254 289 | 1255 0 | 1256 35 | 4.b.
5. Loans to individuals for household, family, and | ////////////////// | ////////////////// | ////////////////// |
other personal expenditures: | ////////////////// | ////////////////// | ///////////////// |
a. Credit cards and related plans ............... | 5383 941 | 5384 272 | 5385 0 | 5.a.
b. Other (includes single payment, installment, | ////////////////// | ////////////////// | ////////////////// |
and all student loans) ....................... | 5386 39,414 | 5387 18,299 | 5388 2,405 | 5.b.
6. Loans to foreign governments and official | ////////////////// | ////////////////// | ////////////////// |
institutions .................................... | 5389 0 | 5390 0 | 5391 30 | 6.
7. All other loans ................................. | 5459 26,551 | 5460 11,174 | 5461 1,346 | 7.
8. Lease financing receivables: | ////////////////// | ////////////////// | ////////////////// |
a. Of U.S. addressees (domicile) ................ | 1257 0 | 1258 0 | 1259 0 | 8.a.
b. Of non-U.S. addressees (domicile) ............ | 1271 0 | 1272 0 | 1791 0 | 8.b.
9. Debt securities and other assets (exclude other | ////////////////// | ////////////////// | ////////////////// |
real estate owned and other repossessed assets) . | 3505 0 | 3506 0 | 3507 0 | 9.
-------------------- -------------------- --------------------
====================================================================================================================================
Amounts reported in items 1 through 8 above include guaranteed and unguaranteed portions of past due and nonaccrual loans and
leases. Report in item 10 below certain guaranteed loans and leases that have already been included in the amounts reported in
items 1 through 8.
----------------------------------------------------------------
| RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
10. Loans and leases reported in items 1 -------------------- -------------------- --------------------
through 8 above which are wholly or partially | ////////////////// | ////////////////// | ////////////////// |
guaranteed by the U.S. Government ............... | 5612 11,910 | 5613 15,221 | 5614 3,141 | 10.
a. Guaranteed portion of loans and leases | ////////////////// | ////////////////// | ////////////////// |
included in item 10 above .................... | 5615 11,704 | 5616 15,221 | 5617 2,513 | 10.a.
----------------------------------------------------------------
</TABLE>
29
<PAGE> 40
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-20
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-N--Continued
----------
| C473 | (-
------------------------------------------------------ --------
| (Column A) | (Column B) | (Column C) |
| Past due | Past due 90 | Nonaccrual |
| 30 through 89 | days or more | |
| days and still | and still | |
Memoranda | accruing | accruing | |
-------------------- -------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- ------------------------------------------------------ -------------------- -------------------- --------------------
1. Restructured loans and leases included in | ////////////////// | ////////////////// | ////////////////// |
Schedule RC-N, items 1 through 8, above (and not | ////////////////// | ////////////////// | ////////////////// |
reported in Schedule RC-C, part I, Memorandum | ////////////////// | ////////////////// | ////////////////// |
item 2) ......................................... | 1658 0 | 1659 0 | 1661 0 | M.1.
2. Loans to finance commercial real estate, | ////////////////// | ////////////////// | ////////////////// |
construction, and land development activities | ////////////////// | ////////////////// | ////////////////// |
(not secured by real estate) included in | ////////////////// | ////////////////// | ////////////////// |
Schedule RC-N, items 4 and 7, above ............. | 6558 1,804 | 6559 914 | 6560 1,604 | M.2.
-------------------- -------------------- --------------------
3. Loans secured by real estate in domestic offices | RCON Bil Mil Thou | RCON Bil Mil Thou | RCON Bil Mil Thou |
-------------------- -------------------- --------------------
(included in Schedule RC-N, item 1, above): | ////////////////// | ////////////////// | ////////////////// |
a. Construction and land development ............ | 2759 28,069 | 2769 4,463 | 3492 42,747 | M.3.a.
b. Secured by farmland .......................... | 3493 56 | 3494 0 | 3495 268 | M.3.b.
c. Secured by 1-4 family residential properties: | ////////////////// | ////////////////// | ////////////////// |
(1) Revolving, open-end loans secured by | ////////////////// | ////////////////// | ////////////////// |
1-4 family residential properties and | ////////////////// | ////////////////// | ////////////////// |
extended under lines of credit ........... | 5398 0 | 5399 0 | 5400 0 | M.3.c.(1)
(2) All other loans secured by 1-4 family | ////////////////// | ////////////////// | ////////////////// |
residential properties ................... | 5401 21,095 | 5402 6,493 | 5403 10,118 | M.3.c.(2)
d. Secured by multifamily (5 or more) residential | ////////////////// | ////////////////// | ////////////////// |
properties ................................... | 3499 427 | 3500 941 | 3501 606 | M.3.d.
e. Secured by nonfarm nonresidential properties . | 3502 30,032 | 3503 3,157 | 3504 15,107 | M.3.e.
----------------------------------------------------------------
-------------------------------------------
| (Column A) | (Column B) |
| Past due 30 | Past due 90 |
| through 89 days | days or more |
-------------------- --------------------
| RCFD Bil Mil Thou | RCFD Bil Mil Thou |
-------------------- --------------------
4. Interest rate, foreign exchange rate, and other | ////////////////// | ////////////////// |
commodity and equity contracts: | ////////////////// | ////////////////// |
a. Book value of amounts carried as assets ...... | 3522 0 | 3528 0 | M.4.a.
b. Replacement cost of contracts with a | ////////////////// | ////////////////// |
positive replacement cost .................... | 3529 0 | 3530 0 | M.4.b.
-------------------------------------------
</TABLE>
30
<PAGE> 41
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-21
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-O--Other Data for Deposit Insurance Assessments
----------
| C475 | (-
------------ --------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- --------------------------------------------------------------------------------------------------- --------------------
1. Unposted debits (see instructions): | ////////////////// |
a. Actual amount of all unposted debits ...................................................... | 0030 N/A | 1.a.
OR | ////////////////// |
b. Separate amount of unposted debits: | ////////////////// |
(1) Actual amount of unposted debits to demand deposits ................................... | 0031 0 | 1.b.(1)
(2) Actual amount of unposted debits to time and savings deposits(1) ...................... | 0032 0 | 1.b.(2)
2. Unposted credits (see instructions): | ////////////////// |
a. Actual amount of all unposted credits ..................................................... | 3510 N/A | 2.a.
OR | ////////////////// |
b. Separate amount of unposted credits: | ////////////////// |
(1) Actual amount of unposted credits to demand deposits .................................. | 3512 0 | 2.b.(1)
(2) Actual amount of unposted credits to time and savings deposits(1) ..................... | 3514 0 | 2.b.(2)
3. Uninvested trust funds (cash) held in bank's own trust department (not included in total | ////////////////// |
deposits in domestic offices) ................................................................ | 3520 25,457 | 3.
4. Deposits of consolidated subsidiaries in domestic offices and in insured branches in Puerto | ////////////////// |
Rico and U.S. territories and possessions (not included in total deposits): | ////////////////// |
a. Demand deposits of consolidated subsidiaries .............................................. | 2211 2,432 | 4.a.
b. Time and savings deposits(1) of consolidated subsidiaries ................................. | 2351 16 | 4.b.
c. Interest accrued and unpaid on deposits of consolidated subsidiaries ...................... | 5514 0 | 4.c.
5. Deposits in insured branches in Puerto Rico and U.S. territories and possessions: | ////////////////// |
a. Demand deposits in insured branches (included in Schedule RC-E, Part II) .................. | 2229 0 | 5.a.
b. Time and savings deposits(1) in insured branches (included in Schedule RC-E, Part II) ..... | 2383 0 | 5.b.
c. Interest accrued and unpaid on deposits in insured branches | ////////////////// |
(included in Schedule RC-G, item 1.b) ..................................................... | 5515 0 | 5.c.
----------------------
----------------------
Item 6 is not applicable to state nonmember banks that have not been authorized by the | ////////////////// |
Federal Reserve to act as pass-through correspondents. | ////////////////// |
6. Reserve balances actually passed through to the Federal Reserve by the reporting bank on | ////////////////// |
behalf of its respondent depository institutions that are also reflected as deposit liabilities| ////////////////// |
of the reporting bank: | ////////////////// |
a. Amount reflected in demand deposits (included in Schedule RC-E, Part I, item 4 or 5, | ////////////////// |
column B) ................................................................................. | 2314 25 | 6.a.
b. Amount reflected in time and savings deposits(1) (included in Schedule RC-E, Part I, | ////////////////// |
item 4 or 5, column A or C, but not column B) ............................................. | 2315 0 | 6.b.
7. Unamortized premiums and discounts on time and savings deposits:(1) | ////////////////// |
a. Unamortized premiums ...................................................................... | 5516 1,938 | 7.a.
b. Unamortized discounts ..................................................................... | 5517 0 | 7.b.
----------------------
- ------------------------------------------------------------------------------------------------------------------------------
| |
|8. To be completed by banks with "Oakar deposits." ---------------------- |
| Total "Adjusted Attributable Deposits" of all institutions acquired under Section 5(d)(3) of | ////////////////// | |
| the Federal Deposit Insurance Act (from most recent FDIC Oakar Transaction Worksheet(s)) .... | 5518 N/A | 8. |
| ---------------------- |
- -------------------------------------------------------------------------------------------------------------------------------
----------------------
9. Deposits in lifeline accounts ................................................................ | 5596 ///////////// | 9.
10. Benefit-responsive "Depository Institution Investment Contracts" (included in total | ////////////////// |
deposits in domestic offices) ................................................................ | 8432 0 | 10.
----------------------
- --------------
(1) For FDIC insurance assessment purposes, "time and savings deposits" consists of nontransaction accounts and all transaction
accounts other than demand deposits.
</TABLE>
31
<PAGE> 42
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-22
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-O--Continued
----------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- --------------------
11. Adjustments to demand deposits in domestic offices reported in Schedule RC-E for | ////////////////// |
certain reciprocal demand balances: | ////////////////// |
a. Amount by which demand deposits would be reduced if reciprocal demand balances | ////////////////// |
between the reporting bank and savings associations were reported on a net basis | ////////////////// |
rather than a gross basis in Schedule RC-E ............................................... | 8785 0 | 11.a.
b. Amount by which demand deposits would be increased if reciprocal demand balances | ////////////////// |
between the reporting bank and U.S. branches and agencies of foreign banks were | ////////////////// |
reported on a gross basis rather than a net basis in Schedule RC-E ....................... | A181 0 | 11.b.
c. Amount by which demand deposits would be reduced if cash items in process of | ////////////////// |
collection were included in the calculation of net reciprocal demand balances between | ////////////////// |
the reporting bank and the domestic offices of U.S. banks and savings associations | ////////////////// |
in Schedule RC-E ......................................................................... | A182 12,262 | 11.c.
----------------------
Memoranda (to be completed each quarter except as noted)
----------------------
Dollar Amounts in Thousands | RCON Bil Mil Thou |
- -------------------------------------------------------------------------------------------------- --------------------
1. Total deposits in domestic offices of the bank (sum of Memorandum items 1.a.(1) and | ////////////////// |
1.b.(1) must equal Schedule RC, item 13.a): | ////////////////// |
a. Deposit accounts of $100,000 or less: | ////////////////// |
(1) Amount of deposit accounts of $100,000 or less ....................................... | 2702 8,620,055 | M.1.a.(1)
(2) Number of deposit accounts of $100,000 or less (to be Number | ////////////////// |
--------------------------- |
completed for the June report only) ....................... | RCON 3779 | 1,261,937 | ////////////////// | M.1.a.(2)
--------------------------- |
b. Deposit accounts of more than $100,000: | ////////////////// |
(1) Amount of deposit accounts of more than $100,000 ..................................... | 2710 6,721,389 | M.1.b.(1)
Number | ////////////////// |
--------------------------- |
(2) Number of deposit accounts of more than $100,000 .......... | RCON 2722 | 17,080 | ////////////////// | M.1.b.(2)
-------------------------------------------------
2. Estimated amount of uninsured deposits in domestic offices of the bank:
a. An estimate of your bank's uninsured deposits can be determined by multiplying the number of deposit accounts of more than
$100,000 reported in Memorandum item 1.b.(2) above by $100,000 and subtracting the result from the amount of deposit
accounts of more than $100,000 reported in Memorandum item 1.b.(1) above.
Indicate in the appropriate box at the right whether your bank has a method or YES NO
procedure for determining a better estimate of uninsured deposits than the ----------------------
estimate described above .................................................................. | 6861 | |///| X | M.2.a.
----------------------
| RCON Bil Mil Thou |
b. If the box marked YES has been checked, report the estimate of uninsured deposits --------------------
determined by using your bank's method or procedure ....................................... | 5597 N/A | M.2.b.
----------------------
- -----------------------------------------------------------------------------------------------------------------------------
| C477 | (-
Person to whom questions about the Reports of Condition and Income should be directed: ----------
Karen Gatenby, Vice President (713) 216-5263
- ------------------------------------------------------------------------------ --------------------------------------------
Name and Title (TEXT 8901) Area code/phone number/extension (TEXT 8902)
</TABLE>
32
<PAGE> 43
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-23
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-R--Regulatory Capital
This schedule must be completed by all banks as follows: Banks that reported total assets of $1 billion or more in Schedule RC,
item 12, for June 30, 1995, must complete items 2 through 9 and Memoranda items 1 and 2. Banks with assets of less than $1 billion
must complete items 1 through 3 below or Schedule RC-R in its entirety, depending on their response to item 1 below.
------------
| C480 | (-
1. Test for determining the extent to which Schedule RC-R must be completed. To be ----- ----------
completed only by banks with total assets of less than $1 billion. Indicate in the | YES NO |
appropriate box at the right whether the bank has total capital greater than or ------------ ---------------
equal to eight percent of adjusted total assets ........................................ | RCFD 6056 | |////| | 1.
-----------------------------
For purposes of this test, adjusted total assets equals total assets less cash, U.S. Treasuries, U.S. Government
agency obligations, and 80 percent of U.S. Government-sponsored agency obligations plus the allowance for
loan and lease losses and selected off-balance sheet items as reported on Schedule RC-L (see instructions).
If the box marked YES has been checked, then the bank only has to complete items 2 and 3 below. If the box marked
NO has been checked, the bank must complete the remainder of this schedule.
A NO response to item 1 does not necessarily mean that the bank's actual risk-based capital ratio is less than
eight percent or that the bank is not in compliance with the risk-based capital guidelines.
- --------------------------------------------------------------------
| NOTE: All banks are required to complete items 2 and 3 below. | -------------------------------------------
| See optional worksheet for items 3.a through 3.f. | | (Column A) | (Column B) |
- -------------------------------------------------------------------- | | |
Dollar Amounts in Thousands |Subordinated Debt(1)| Other |
- ------------------------------------------------------------------------------ | |
2. Subordinated debt(1) and other limited-life capital instruments (original | and Intermediate | Limited-Life |
weighted average maturity of at least five years) with a remaining |Term Preferred Stock| Capital Instruments|
maturity of: |-------------------- --------------------|
| RCFD Bil Mil Thou | RCFD Bil Mil Thou |
|-------------------- --------------------|
a. One year or less ...................................................... | 3780 0 | 3786 0 | 2.a.
b. Over one year through two years ....................................... | 3781 0 | 3787 0 | 2.b.
c. Over two years through three years .................................... | 3782 0 | 3788 0 | 2.c.
d. Over three years through four years ................................... | 3783 0 | 3789 0 | 2.d.
e. Over four years through five years .................................... | 3784 0 | 3790 0 | 2.e.
f. Over five years ....................................................... | 3785 345,000 | 3791 0 | 2.f.
3. Amounts used in calculating regulatory capital ratios (report amounts | ////////////////// | ////////////////// |
| --------------------
determined by the bank for its own internal regulatory capital analyses): | ////////////////// | RCFD Bil Mil Thou |
| --------------------
a. Tier 1 capital ........................................................ | ////////////////// | 8274 1,301,429 | 3.a.
b. Tier 2 capital ........................................................ | ////////////////// | 8275 549,651 | 3.b.
c. Total risk-based capital .............................................. | ////////////////// | 3792 1,851,080 | 3.c.
d. Excess allowance for loan and lease losses ............................ | ////////////////// | A222 49,747 | 3.d.
e. Risk-weighted assets .................................................. | ////////////////// | A223 16,322,316 | 3.e.
f. "Average total assets" ................................................ | ////////////////// | A224 19,437,285 | 3.f.
-------------------------------------------
-------------------------------------------
| (Column A) | (Column B) |
Items 4-9 and Memoranda items 1 and 2 are to be completed | Assets | Credit Equiv- |
by banks that answered NO to item 1 above and | Recorded | alent Amount |
by banks with total assets of $1 billion or more. | on the | of Off-Balance |
| Balance Sheet | Sheet Items(2) |
-------------------- --------------------
4. Assets and credit equivalent amounts of off-balance sheet items | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
assigned to the Zero percent risk category: -------------------- --------------------
| ////////////////// | ////////////////// |
a. Assets recorded on the balance sheet: | ////////////////// | ////////////////// |
(1) Securities issued by, other claims on, and claims unconditionally | ////////////////// | ////////////////// |
guaranteed by, the U.S. Government and its agencies and | ////////////////// | ////////////////// |
other OECD central governments .................................... | 3794 2,151,228 | ////////////////// | 4.a.(1)
(2) All other ......................................................... | 3795 543,280 | ////////////////// | 4.a.(2)
b. Credit equivalent amount of off-balance sheet items ................... | ////////////////// | 3796 31,888 | 4.b.
-------------------------------------------
- --------------
(1) Exclude mandatory convertible debt reported in Schedule RC-M, item 7.
(2) Do not report in column B the risk-weighted amount of assets reported in column A.
</TABLE>
33
<PAGE> 44
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-24
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Schedule RC-R--Continued
-------------------------------------------
| (Column A) | (Column B) |
| Assets | Credit Equiv- |
| Recorded | alent Amount |
| on the | of Off-Balance |
| Balance Sheet | Sheet Items(1) |
-------------------- --------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou | RCFD Bil Mil Thou |
- -------------------------------------------------------------------------------- -------------------- --------------------
5. Assets and credit equivalent amounts of off-balance sheet items | ////////////////// | ////////////////// |
assigned to the 20 percent risk category: | ////////////////// | ////////////////// |
a. Assets recorded on the balance sheet: | ////////////////// | ////////////////// |
(1) Claims conditionally guaranteed by the U.S. Government and | ////////////////// | ////////////////// |
its agencies and other OECD central governments ..................... | 3798 434,311 | ////////////////// | 5.a.(1)
(2) Claims collateralized by securities issued by the U.S. Government | ////////////////// | ////////////////// |
and its agencies and other OECD central governments; by | ////////////////// | ////////////////// |
securities issued by U.S. Government-sponsored agencies; and | ////////////////// | ////////////////// |
by cash on deposit .................................................. | 3799 96,485 | ////////////////// | 5.a.(2)
(3) All other ........................................................... | 3800 5,251,140 | ////////////////// | 5.a.(3)
b. Credit equivalent amount of off-balance sheet items ..................... | ////////////////// | 3801 206,324 | 5.b.
6. Assets and credit equivalent amounts of off-balance sheet items | ////////////////// | ////////////////// |
assigned to the 50 percent risk category: | ////////////////// | ////////////////// |
a. Assets recorded on the balance sheet .................................... | 3802 789,520 | ////////////////// | 6.a.
b. Credit equivalent amount of off-balance sheet items ..................... | ////////////////// | 3803 35,076 | 6.b.
7. Assets and credit equivalent amounts of off-balance sheet items | ////////////////// | ////////////////// |
assigned to the 100 percent risk category: | ////////////////// | ////////////////// |
a. Assets recorded on the balance sheet .................................... | 3804 11,812,356 | ////////////////// | 7.a.
b. Credit equivalent amount of off-balance sheet items ..................... | ////////////////// | 3805 3,392,152 | 7.b.
8. On-balance sheet asset values excluded from the calculation of the | ////////////////// | ////////////////// |
risk-based capital ratio(2) ................................................ | 3806 (15,822)| ////////////////// | 8.
9. Total assets recorded on the balance sheet (sum of | ////////////////// | ////////////////// |
items 4.a, 5.a, 6.a, 7.a, and 8, column A)(must equal Schedule RC, | ////////////////// | ////////////////// |
item 12 plus items 4.b and 4.c) ............................................ | 3807 21,062,498 | ////////////////// | 9.
-------------------------------------------
Memoranda ----------------------
Dollar Amounts in Thousands | RCFD Bil Mil Thou |
- ----------------------------------------------------------------------------------------------------- --------------------
1. Current credit exposure across all off-balance sheet derivative contracts covered by the | ////////////////// |
risk-based capital standards .................................................................... | 8764 71,253 | M.1.
----------------------
----------------------------------------------------------------------------
| With a remaining maturity of |
|--------------------------------------------------------------------------
| (Column A) | (Column B) | (Column C) |
| One year or less | Over one year | Over five years |
| | through five years | |
2. Notional principal amounts of ------------------------ ------------------------ ------------------------
off-balance sheet derivative contracts(3): | RCFD Tril Bil Mil Thou | RCFD Tril Bil Mil Thou | RCFD Tril Bil Mil Thou |
------------------------ ------------------------ ------------------------|
a. Interest rate contracts ............... | 3809 4,326,479 | 8766 3,219,976 | 8767 577,744 | M.2.a.
b. Foreign exchange contracts ............ | 3812 283,141 | 8769 48,368 | 8770 0 | M.2.b.
c. Gold contracts ........................ | 8771 0 | 8772 0 | 8773 0 | M.2.c.
d. Other precious metals contracts ....... | 8774 0 | 8775 0 | 8776 0 | M.2.d.
e. Other commodity contracts ............. | 8777 1,173 | 8778 11,392 | 8779 0 | M.2.e.
f. Equity derivative contracts ........... | A000 0 | A001 0 | A002 0 | M.2.f.
----------------------------------------------------------------------------
- --------------
(1) Do not report in column B the risk-weighted amount of assets reported in column A.
(2) Include the difference between the fair value and the amortized cost of available-for-sale securities in item 8 and report
the amortized cost of these securities in items 4 through 7 above. Item 8 also includes on-balance sheet asset values (or
portions thereof) of off-balance sheet interest rate, foreign exchange rate, and commodity contracts and those contracts (e.g.,
futures contracts) not subject to risk-based capital. Exclude from item 8 margin accounts and accrued receivables as well as
any portion of the allowance for loan and lease losses in excess of the amount that may be included in Tier 2 capital.
(3) Exclude foreign exchange contracts with an original maturity of 14 days or less and all futures contracts.
</TABLE>
34
<PAGE> 45
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926 FFIEC 031
Address: P.O. Box 2558 Page RC-25
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
Optional Narrative Statement Concerning the Amounts
Reported in the Reports of Condition and Income
at close of business on June 30, 1996
- --------------------------------------------------------------- ----------------------------------, ---------------------------
Texas Commerce Bank National Association Houston Texas
Legal Title of Bank City State
The management of the reporting bank may, if it wishes, submit a brief narrative statement on the amounts reported in the Reports
of Condition and Income. This optional statement will be made available to the public, along with the publicly available data in
the Reports of Condition and Income, in response to any request for individual bank report data. However, the information reported
in column A and in all of Memorandum item 1 of Schedule RC-N is regarded as confidential and will not be released to the public.
BANKS CHOOSING TO SUBMIT THE NARRATIVE STATEMENT SHOULD ENSURE THAT THE STATEMENT DOES NOT CONTAIN THE NAMES OR OTHER
IDENTIFICATIONS OF INDIVIDUAL BANK CUSTOMERS, REFERENCES TO THE AMOUNTS REPORTED IN THE CONFIDENTIAL ITEMS IN SCHEDULE RC-N, OR
ANY OTHER INFORMATION THAT THEY ARE NOT WILLING TO HAVE MADE PUBLIC OR THAT WOULD COMPROMISE THE PRIVACY OF THEIR CUSTOM- ERS.
Banks choosing not to make a statement may check the "No comment" box below and should make no entries of any kind in the space
provided for the narrative statement; i.e., DO NOT enter in this space such phrases as "No statement," "Not applicable," "N/A," "No
comment," and "None."
The optional statement must be entered on this sheet. The statement should not exceed 100 words. Further, regardless of the number
of words, the statement must not exceed 750 characters, including punctuation, indentation, and standard spacing between words and
sentences. If any submission should exceed 750 characters, as defined, it will be truncated at 750 characters with no notice to the
submitting bank and the truncated statement will appear as the bank's statement both on agency computerized records and in
computer-file releases to the public.
All information furnished by the bank in the narrative statement must be accurate and not misleading. Appropriate efforts shall be
taken by the submitting bank to ensure the statement's accuracy. The statement must be signed, in the space provided below, by a
senior officer of the bank who thereby attests to its accuracy.
If, subsequent to the original submission, material changes are submitted for the data reported in the Reports of Condition and
Income, the existing narrative statement will be deleted from the files, and from disclosure; the bank, at its option, may replace
it with a statement, under signature, appropriate to the amended data.
The optional narrative statement will appear in agency records and in release to the public exactly as submitted (or amended as
described in the preceding paragraph) by the management of the bank (except for the truncation of statements exceeding the
750-character limit described above). THE STATEMENT WILL NOT BE EDITED OR SCREENED IN ANY WAY BY THE SUPERVISORY AGENCIES FOR
ACCURACY OR RELEVANCE. DISCLOSURE OF THE STATEMENT SHALL NOT SIGNIFY THAT ANY FEDERAL SUPERVISORY AGENCY HAS VERIFIED OR CONFIRMED
THE ACCURACY OF THE INFORMATION CONTAINED THEREIN. A STATEMENT TO THIS EFFECT WILL APPEAR ON ANY PUBLIC RELEASE OF THE OPTIONAL
STATEMENT SUBMITTED BY THE MANAGEMENT OF THE REPORTING BANK.
- ----------------------------------------------------------------------------------------------------------------------------------
No comment | | (RCON 6979) | C471 | C472 |
---------------
BANK MANAGEMENT STATEMENT (please type or print clearly):
(TEXT 6980)
/s/ KENNETH L. TILTON
--------------------------------------------- --------------------------------
Signature of Executive Officer of Bank Date of Signature
</TABLE>
35
<PAGE> 46
<TABLE>
<S> <C>
Legal Title of Bank: Texas Commerce Bank National Association Call Date: 6/30/96 ST-BK: 48-3926
Address: P.O. Box 2558
City, State Zip: Houston, TX 77252-2558
FDIC Certificate No.: | | | | | |
-----------
0 3 2 6 3
THIS PAGE IS TO BE COMPLETED BY ALL BANKS
- ----------------------------------------------------------------------------------------------------------------------------------
NAME AND ADDRESS OF BANK | OMB No. For OCC: 1557-0081
| OMB No. For FDIC: 3064-0052
| OMB No. For Federal Reserve: 7100-0036
| Expiration Date: 3/31/99
|
PLACE LABEL HERE | SPECIAL REPORT
| (Dollar Amounts in Thousands)
|
------------------------------------------------------------------
| CLOSE OF BUSINESS | FDIC Certificate Number | |
| DATE | | C-700 | (-
| | | | | | | | | |
| 6/30/96 | 0 3 2 6 3 | |
- ----------------------------------------------------------------------------------------------------------------------------------
LOANS TO EXECUTIVE OFFICERS (Complete as of each Call Report Date)
- ----------------------------------------------------------------------------------------------------------------------------------
The following information is required by Public Laws 90-44 and 102-242, but does not constitute a part of the Report of Condition.
With each Report of Condition, these Laws require all banks to furnish a report of all loans or other extensions of credit to
their executive officers made since the date of the previous Report of Condition. Data regarding individual loans or other
extensions of credit are not required. If no such loans or other extensions of credit were made during the period, insert "none"
against subitem (a). (Exclude the first $15,000 of indebtedness of each executive officer under bank credit card plan.) See
Sections 215.2 and 215.3 of Title 12 of the Code of Federal Regulations (Federal Reserve Board Regulation O) for the definitions
of "executive officer" and "extension of credit," respectively. Exclude loans and other extensions of credit to directors and
principal shareholders who are not executive officers.
- ----------------------------------------------------------------------------------------------------------------------------------
-----------------------------
a. Number of loans made to executive officers since the previous Call Report date .............. | RCFD 3561 | 1 a.
----------------------------
b. Total dollar amount of above loans (in thousands of dollars) ................................ | RCFD 3562 | 142 b.
-----------------------------
c. Range of interest charged on above loans -------------------------------------------------------
(example: 9 3/4% = 9.75) .......................................... | RCFD 7701 | 7.88 | % to | RCFD 7702 | 7.88 | % c.
-------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------
SIGNATURE AND TITLE OF OFFICER AUTHORIZED TO SIGN REPORT | DATE (Month, Day, Year)
|
|
/s/ KENNETH L. TILTON, EXECUTIVE VICE PRESIDENT | 7-31-96
- ----------------------------------------------------------------------------------------------------------------------------------
NAME AND TITLE OF PERSON TO WHOM INQUIRIES MAY BE DIRECTED (TEXT 8903) | AREA CODE/PHONE NUMBER/EXTENSION
| (TEXT 8904)
Karen Gatenby, Vice President | (713) 216-5263
|
- ----------------------------------------------------------------------------------------------------------------------------------
FDIC 8040/53 (6-95)
36
</TABLE>
