U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
----- ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2000
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
----- ACT OF 1934 FOR THE TRANSITION PERIOD FROM ___________ TO ___________
Commission File Number 000-21671
---------
The National Bank of Indianapolis Corporation
---------------------------------------------
(Exact name of registrant as specified in its charter)
Indiana 35-1887991
------- ----------
(State of incorporation) I.R.S. Employer
Identification Number
107 N. Pennsylvania Street, Suite 700, Indianapolis, Indiana 46204
------------------------------------------------------------------
(Address of principal executive offices and zip code)
(317) 261-9000
--------------
(Issuer's telephone number)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes X No
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As of August 2, 2000, there were 1,958,962 Common Shares outstanding.
Transitional Small Business Disclosure Format (Check one):
Yes No X
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<PAGE>
Table of Contents
The National Bank of Indianapolis Corporation
Report on Form 10-Q
for Quarter Ended
June 30, 2000
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Consolidated Balance Sheets - June 30, 2000
and December 31, 1999.............................................1
Consolidated Statements of Income - Three months
ended June 30, 2000 and 1999......................................2
Consolidated Statements of Income - Six months
ended June 30, 2000 and 1999......................................3
Consolidated Statements of Cash Flows - Six months
ended June 30, 2000 and 1999 .....................................4
Consolidated Statements of Shareholders' Equity - Six months
ended June 30, 2000 and 1999......................................5
Notes to Consolidated Financial Statements........................6
Item 2. Management's Discussion and Analysis.........................7 - 10
PART II - OTHER INFORMATION
Item 1. Legal Proceedings................................................11
Item 2. Changes in Securities............................................11
Item 3. Default Upon Senior Securities...................................11
Item 4. Submission of Matters to a Vote of Security Holders..............11
Item 5. Other Information ...............................................11
Item 6. Exhibits and Reports on Form 8-K.................................11
Signatures .................................................................11
<PAGE>
The National Bank of Indianapolis Corporation
Consolidated Balance Sheets
<TABLE>
<CAPTION>
June 30, December 31,
2000 1999
(Unaudited) (Note)
--------------------------------
<S> <C> <C>
Assets
Cash and due from banks $ 29,431,706 $ 34,809,536
Federal funds sold 8,006,563 17,302,304
Investment securities
Available-for-sale securities 54,334,294 46,163,821
Held-to-maturity securities 6,146,594 7,698,420
--------------------------------
Total investment securities 60,480,888 53,862,241
Loans 333,871,247 311,477,835
Less: Allowance for loan losses (3,971,607) (3,392,587)
--------------------------------
Net loans 329,899,640 308,085,248
Premises and equipment 7,784,179 7,925,669
Accrued interest 2,442,543 3,296,010
Stock in federal banks 2,044,200 1,797,500
Other assets 2,917,442 2,422,956
--------------------------------
Total assets $ 443,007,161 $ 429,501,464
================================
Liabilities and shareholders' equity
Deposits:
Noninterest-bearing demand deposits $ 65,888,291 $ 66,799,489
Money market and savings deposits 180,425,143 171,147,030
Time deposits over $100,000 37,099,426 35,403,389
Other time deposits 64,014,040 71,658,213
--------------------------------
Total deposits 347,426,900 345,008,121
Security repurchase agreements 48,475,388 40,195,017
FHLB advances 14,000,000 14,000,000
Long term debt 7,500,000 6,000,000
Other liabilities 2,545,583 2,662,482
--------------------------------
Total liabilities 419,947,871 407,865,620
Shareholders' equity:
Common stock, no par value:
Authorized shares - 3,000,000
Issued and outstanding shares; 2000 -
1,958,962; 1999 - 1,950,171 20,711,160 20,534,340
Unearned compensation (701,099) (817,014)
Retained earnings 3,103,427 1,943,274
Accumulated other comprehensive (loss) (54,198) (24,756)
--------------------------------
Total shareholders' equity 23,059,290 21,635,844
--------------------------------
Total liabilities and shareholders' equity $ 443,007,161 $ 429,501,464
================================
</TABLE>
Note: The balance sheet at December 31, 1999 has been derived from the audited
financial statements at that date but does not include all of the information
and footnotes required by generally accepted accounting principles for complete
financial statements. See notes to condensed consolidated financial statements.
1
<PAGE>
The National Bank of Indianapolis Corporation
Consolidated Statements of Income
(Unaudited)
<TABLE>
<CAPTION>
Three months ended
June 30
2000 1999
-------------------------------
<S> <C> <C>
Interest income:
Interest and fees on loans $ 6,894,222 $ 4,856,700
Interest on investment securities 1,136,179 1,067,975
Interest on federal funds sold 344,969 299,478
-------------------------------
Total interest income 8,375,370 6,224,153
Interest expense:
Interest on deposits 3,445,558 2,827,384
Interest on repurchase agreements 674,588 339,685
Interest on FHLB advances 201,161 201,161
Interest on long term debt 157,814 90,250
-------------------------------
Total interest expense 4,479,121 3,458,480
-------------------------------
Net interest income 3,896,249 2,765,673
Provision for loan losses 360,000 240,000
-------------------------------
Net interest income after provision for loan losses 3,536,249 2,525,673
Other operating income:
Trust fees and commissions 393,981 307,228
Building rental income 169,665 157,660
Service charges and fees on deposit accounts 205,078 129,033
Net gain on sale of mortgage loans 15,825 12,976
Other 254,211 210,284
-------------------------------
Total operating income 1,038,760 817,181
Other operating expenses:
Salaries, wages and employee benefits 1,975,883 1,483,927
Net occupancy expense 297,070 253,106
Furniture and equipment expense 179,489 134,573
Professional services 152,855 133,282
Data processing 240,932 160,296
Business development 139,482 114,813
Other expenses 478,504 392,953
-------------------------------
Total other operating expenses 3,464,215 2,672,950
-------------------------------
Net income before tax 1,110,794 669,904
Federal and state income tax 452,264 267,108
-------------------------------
Net income after tax $ 658,530 $ 402,796
===============================
Basic earnings per share $ 0.35 $ 0.21
===============================
Diluted earnings per share $ 0.31 $ 0.19
===============================
</TABLE>
2
<PAGE>
The National Bank of Indianapolis Corporation
Consolidated Statements of Income
(Unaudited)
<TABLE>
<CAPTION>
Six months ended
June 30
2000 1999
-----------------------------
<S> <C> <C>
Interest income:
Interest and fees on loans $ 13,317,804 $ 9,220,325
Interest on investment securities 2,264,987 2,168,150
Interest on federal funds sold 628,366 574,030
-----------------------------
Total interest income
16,211,157 11,962,505
Interest expense:
Interest on deposits 6,707,582 5,570,267
Interest on repurchase agreements 1,204,657 630,182
Interest on FHLB advances 402,322 400,034
Interest on long term debt 298,337 96,708
-----------------------------
Total interest expense 8,612,898 6,697,191
-----------------------------
Net interest income 7,598,259 5,265,314
Provision for loan Losses 720,000 480,000
-----------------------------
Net interest income after provision for loan losses 6,878,259 4,785,314
Other operating income:
Trust fees and commissions 781,019 586,940
Building rental income 344,050 288,485
Service charges and fees on deposit accounts 391,421 233,039
Net gain (loss) on sale of mortgage loans (85,066) 71,419
Other 498,567 396,911
-----------------------------
Total operating income 1,929,991 1,576,794
Other operating expenses:
Salaries, wages and employee benefits 3,853,073 2,830,677
Net occupancy expense 598,125 496,151
Furniture and equipment expense 355,135 271,962
Professional services 337,804 285,069
Data processing 475,181 303,583
Business development 260,471 192,524
Other expenses 973,394 721,251
-----------------------------
Total other operating expenses 6,853,183 5,101,217
-----------------------------
Net income before tax 1,955,067 1,260,891
Federal and state income tax 794,914 501,198
-----------------------------
Net income after tax $ 1,160,153 $ 759,693
=============================
Basic earnings per share $ 0.61 $ 0.40
=============================
Diluted earnings per share $ 0.54 $ 0.36
=============================
</TABLE>
3
<PAGE>
The National Bank of Indianapolis Corporation
Consolidated Statements of Cash Flows
(Unaudited)
<TABLE>
<CAPTION>
Six months ended
June 30
2000 1999
----------------------------------
<S> <C> <C>
Operating Activities
Net Income $ 1,160,153 $ 759,693
Adjustments to reconcile net income to net cash
provided (used) by operating activities:
Provision for loan losses 720,000 480,000
Depreciation and amortization 447,161 331,832
Net accretion of investments (277,772) (750,823)
Unearned compensation amortization 196,915 132,340
(Increase) decrease in:
Interest receivable 853,467 (386,380)
Other assets (475,175) (198,209)
Increase (decrease) in:
Other liabilities (116,899) 306,163
----------------------------------
Net cash provided by operating activities 2,507,850 674,616
----------------------------------
Investing Activities
Net change in federal funds sold 9,295,741 (10,115,842)
Proceeds from maturities of investment securities
held to maturity 1,566,043 2,937,285
Proceeds from maturities of investment securities
available for sale 64,544,575 53,758,144
Purchases of investment securities held to
maturity (246,700) (2,112,070)
Purchases of investment securities available
for sale (72,500,246) (35,261,714)
Net increase in loans (22,534,392) (36,029,938)
Purchases of bank premises and equipment (305,671) (797,332)
----------------------------------
Net cash used by investing activities (20,180,650) (27,621,467)
----------------------------------
Financing Activities
Net increase in deposits 2,418,779 21,497,526
Increase in security repurchase agreements 8,280,371 9,317,147
Proceeds from issuance of long-term debt 1,500,000 5,500,000
Proceeds from issuance of stock 95,820 102,231
----------------------------------
Net cash provided by financing activities 12,294,970 36,416,904
----------------------------------
Increase (Decrease) in Cash and Cash
Equivalents (5,377,830) 9,470,053
Cash and Cash Equivalents at Beginning of Year 34,809,536 26,547,970
----------------------------------
Cash and Cash Equivalents at End of Period $ 29,431,706 $ 36,018,023
==================================
Interest Paid $ 8,590,143 $ 6,435,093
==================================
Income Taxes Paid $ 893,853 $ 541,755
==================================
</TABLE>
4
<PAGE>
The National Bank of Indianapolis Corporation
Consolidated Statement of Shareholders' Equity
(Unaudited)
<TABLE>
<CAPTION>
Accumulated
and Other
Common Unearned Retained Comprehensive
Stock Compensation Earnings Income TOTAL
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Balance at December 31, 1998 $ 19,747,320 $ (460,394) $ 112,954 $ (44,448) $ 19,355,432
Comprehensive income:
Net income 759,693 759,693
Other comprehensive income
Net unrealized gain on
investments, net of tax
of $8,783 31,057 31,057
----------------
Total comprehensive income 790,750
Issuance of stock 786,231 (684,000) 102,231
Compensation earned 132,340 132,340
-------------------------------------------------------------------------------
Balance at June 30, 1999 $ 20,533,551 $ (1,012,054) $ 872,647 $ (13,391) $ 20,380,753
===============================================================================
Balance at December 31, 1999 $ 20,534,340 $ (817,014) $ 1,943,274 $ (24,756) $ 21,635,844
Comprehensive income:
Net income 1,160,153 1,160,153
Other comprehensive income
Net unrealized loss on
investments, net of tax
of $35,549 (29,442) (29,442)
----------------
Total comprehensive income 1,130,711
Issuance of stock 176,820 (81,000) 95,820
Compensation earned 196,915 196,915
-------------------------------------------------------------------------------
Balance at June 30, 2000 $ 20,711,160 $ (701,099) $ 3,103,427 $ (54,198) $ 23,059,290
===============================================================================
</TABLE>
5
<PAGE>
The National Bank of Indianapolis
Corporation
Notes to Consolidated Financial Statements
June 30, 2000
Note 1: Basis of Presentation
The accompanying unaudited condensed consolidated financial statements include
the accounts of The National Bank of Indianapolis Corporation ("Corporation")
and its wholly-owned subsidiary The National Bank of Indianapolis ("Bank"). All
intercompany transactions between the Corporation and Bank have been properly
eliminated. The consolidated financial statements have been prepared in
accordance with generally accepted accounting principles for interim financial
information and with the instructions to Form 10-Q and Article 10 of Regulation
S-X. Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principles for complete financial
statements. In the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have been
included. Operating results for the six month period ended June 30, 2000 is not
necessarily indicative of the results that may be expected for the year ended
December 31, 2000. For further information, refer to the consolidated financial
statements and footnotes thereto included in the Corporation's Form 10-K for the
year ended December 31, 1999.
Note 2: Earnings per Share
The following table sets forth the computation of basic and diluted earnings per
share for the three and six month periods ended June 30, 2000 and 1999.
<TABLE>
<CAPTION>
Three months ended Six months ended
June 30, June 30,
2000 1999 2000 1999
---------- ----------- --------- ----------
<S> <C> <C> <C> <C>
Basic average shares outstanding 1,907,604 1,888,559 1,906,787 1,886,569
========== =========== ========== ==========
Net income $658,530 $402,796 $1,160,153 $759,693
========== =========== ========== ==========
Basic net income per common share $0.35 $0.21 $0.61 $0.40
========== =========== ========== ==========
Diluted
Average shares outstanding 1,907,604 1,888,559 1,906,787 1,886,569
Nonvested restricted stock 28,920 35,820 28,920 35,820
Common stock equivalents
Net effect of the assumed exercise of stock 63,867 45,831 63,867 45,831
options
Net effect of the assumed exercise of 132,990 113,974 132,990 113,974
warrants
---------- ----------- ---------- ----------
Diluted average shares 2,133,381 2,084,184 2,132,564 2,082,194
========== =========== ========== ==========
Net income $658,530 $402,796 $1,160,153 $759,693
========== =========== ========== ==========
Diluted net income per common share $0.31 $0.19 $0.54 $0.36
========== =========== ========= ==========
</TABLE>
6
<PAGE>
Management's Discussion and Analysis
of Financial Condition and Results of Operation
Results of Operations
Six months Ended June 30, 2000 Compared to the Six months Ended June 30, 1999:
The Corporation's results of operations depends primarily on the level of its
net interest income, its non-interest income and its operating expenses. Net
interest income depends on the volume of and rates associated with interest
earning assets and interest bearing liabilities which results in the net
interest spread. The Corporation had net income of $1,160,153 for the six months
ended June 30, 2000 compared to a net income of $759,693 for the six months
ended June 30, 1999. This change is primarily due to the growth of the Bank
allowing for more interest earning assets and net interest income compared to
the same period during 1999, thereby offsetting more of the operating expenses.
Net Interest Income
-------------------
Net interest income increased $2,332,945 or 44.3% to $7,598,259 for the six
months ended June 30, 2000 from $5,265,314 for the six months ended June 30,
1999. Total interest income increased $4,248,652 for the six months ended June
30, 2000 to $16,211,157 from $11,962,505 for the six months ended June 30, 1999.
This increase is primarily a result of average total loans for the six months
ended June 30, 2000 being approximately $320,000,000 compared to average total
loans of approximately $242,000,000 for the six months ended June 30, 1999. The
increased loan growth is the result of new clients due to local bank mergers and
the addition of experienced lenders to the staff. The loan portfolio produces
the highest yield of all earning assets. Investment portfolio income increased
$96,837 or 4.5% to $2,264,987 for the six months ended June 30, 2000, as
compared to $2,168,150 for the six months ended June 30, 1999. Interest on
investment securities increased due to a higher yield although the average
investment securities portfolio decreased from approximately $82,000,000 for the
six months ended June 30, 1999, to approximately $76,000,000 for the six months
ended June 30, 2000. Interest on federal funds sold increased although average
federal funds sold decreased approximately $3,000,000 due to a higher yield for
the six months ended June 30, 2000 over the same period the previous year.
Total interest expense increased $1,915,707 or 28.6% to $8,612,898 for the six
months ended June 30, 2000, from $6,697,191 for the six months ended June 30,
1999. This increase is due to an increase in interest bearing deposits. Total
interest bearing liabilities averaged approximately $352,000,000 for the six
months ended June 30, 2000 as compared to approximately $299,000,000 for the six
months ended June 30, 1999. The average cost of interest bearing liabilities was
approximately 4.9% at June 30, 2000 compared to 4.5% at June 30, 1999.
7
<PAGE>
Provision for Loan Losses
-------------------------
The amount charged to the provision for loan losses by the Bank is based on
management's evaluation as to the amounts required to maintain an allowance
adequate to provide for potential losses inherent in the loan portfolio. The
level of this allowance is dependent upon the total amount of past due and
non-performing loans, general economic conditions and management's assessment of
potential losses based upon internal credit evaluations of loan portfolios and
particular loans. Loans are entirely to borrowers in central Indiana.
Six months ended
June 30,
2000 1999
-------------- --------------
Beginning of Period $ 3,392,587 $ 2,626,279
Provision for loan losses 720,000 480,000
Losses charged to the reserve
Commercial 90,226 -
Real Estate 30,168 -
Installment 9,550 -
Credit Cards 11,036 -
-------------- --------------
140,980 -
Recoveries
Commercial - 3,760
--------------------------------
- 3,760
-------------- --------------
End of Period $ 3,971,607 $ 3,110,039
============== ==============
Allowance as a % of Loans 1.19% 1.18%
Loans past due over 30 days totaled $3,050,970 or 0.91% of total loans at June
30, 2000 compared to $218,163 or 0.08% of total loans at June 30, 1999.
Other Operating Income
----------------------
Other operating income for the six months ended June 30, 2000, increased
$353,197 or 22.4% to $1,929,991 from $1,576,794 for the six months ended June
30, 1999. The increase is primarily due to an increase in trust fees and
commissions of $194,079 or 33.1% from $586,940 for the six months ended June 30,
1999 to $781,019 for the six months ended June 30, 2000. The increase in trust
income is attributable to the increase in total assets under trust management of
approximately $44,000,000 from approximately $477,000,000 at June 30, 1999 to
approximately $521,000,000 at June 30, 2000. The increase in other operating
income is also attributable to an increase in service charges and fees on
deposit accounts of $158,382 or 68.0% from $233,039 for the six months ended
June 30, 1999 to $391,421 for the six months ended June 30, 2000. This increase
is attributable to the increase in average demand deposit accounts of
$56,000,000 from approximately $192,000,000 at June 30, 1999 to approximately
$248,000,000 at June 30, 2000. A net loss on the sale of mortgage loans of
$85,066 for the six months ended June 30, 2000 compared to a net gain of $71,419
for the six months ended June 30, 1999 caused a decrease in other operating
income. Contributing to the increase in other operating income was the rental
income from the other tenants in the Corporation's main office building. For the
six months ended June 30, 2000, building rental income was $344,050 compared to
$288,485 for the six months ended June 30, 1999.
8
<PAGE>
Other Operating Expenses
------------------------
Other operating expenses for the six months ended June 30, 2000 increased
$1,751,966 or 34.3% to $6,853,183 from $5,101,217 for the six months ended June
30, 1999. Salaries, wages and employee benefits increased $1,022,396 or 36.1% to
$3,853,073 for the six months ended June 30, 2000 from $2,830,677 for the six
months ended June 30, 1999. This increase is primarily due to the increase in
the number of employees from 94 full time equivalents at June 30, 1999 to 127
full time equivalents at June 30, 2000. Net occupancy expense increased $101,974
for the six months ended June 30, 2000 over the same period the previous year.
This is due to the opening of a new banking center at the AUL Office Complex in
June 1999. Professional services expense increased $52,735 or 18.5% from
$285,069 for the six months ended June 30, 1999 to $337,804 for the six months
ended June 30, 2000. The increase is due to courier service and accounting fees.
Data processing expenses increased $171,598 or 56.5% for the six months ended
June 30, 2000 over the same period the previous year primarily due to increased
service bureau fees relating to increased transaction activity by the Bank and
trust department.
Liquidity and Interest Rate Sensitivity
The Corporation must maintain an adequate liquidity position in order to respond
to the short-term demand for funds caused by withdrawals from deposit accounts,
extensions of credit and for the payment of operating expenses. Maintaining this
position of adequate liquidity is accomplished through the management of a
combination of liquid assets; those which can be converted into cash and access
to additional sources of funds. Primary liquid assets of the Corporation are
cash and due from banks, federal funds sold, investments held as available for
sale and maturing loans. Federal funds sold represent the Corporation's primary
source of immediate liquidity and were maintained at a level adequate to meet
immediate needs. Federal funds averaged approximately $21,000,000 and
$24,000,000 for the six months ended June 30, 2000 and 1999, respectively.
Maturities in the Corporation's loan and investment portfolios are monitored
regularly to manage the maturity dates of deposits to coincide with long-term
loans and investments. Other assets and liabilities are also monitored to
provide the proper balance between liquidity, safety, and profitability. This
monitoring process must be continuous due to the constant flow of cash which is
inherent in a financial institution.
The Corporation actively manages its interest rate sensitive assets and
liabilities to reduce the impact of interest rate fluctuations. At June 30,
2000, the Corporation's rate sensitive liabilities exceeded rate sensitive
assets due within one year by $51,946,162.
As part of managing liquidity, the Corporation monitors its loan to deposit
ratio on a daily basis. At June 30, 2000 the ratio was 96.1 percent.
The Corporation experienced a decrease in cash and cash equivalents, its primary
source of liquidity, of $5,377,830 during the first six months of 2000. The
primary financing activity of deposit growth provided net cash of $2,418,779.
Lending used $22,534,392, investments used $6,636,328, and decreasing federal
funds sold provided $9,295,741. The Corporation's management believes its
liquidity sources are adequate to meet its operating needs and does not know of
any trends, events or uncertainties that may result in a significant adverse
effect on the Corporation' liquidity position.
9
<PAGE>
Capital Resources
The Corporation's only source of capital since commencing operations has been
from issuance of common stock, results of operations, and the issuance of long
term debt to a non-affiliated third party.
The Corporation incurred indebtedness in the amount of $7,500,000 pursuant to a
Revolving Credit Agreement with Harris Trust and Savings Bank dated March 26,
1999. The aggregate amount of the revolving line of credit is $7,500,000
maturing December 31, 2005. Mandatory principal payments based on amounts
outstanding at June 30, 2000 are due as follows, thus reducing the aggregate
line amounts available:
Date Amount
---- ------
December 31, 2003 $3,000,000
December 31, 2004 $1,000,000
December 31, 2005 $3,500,000
----------
$7,500,000
==========
There are many different interest rate options available. Each option is
available for a fixed term of 1-3 months. The Corporation is currently paying
Adjusted LIBOR plus 2.0% which equates to 8.62%. Interest payments are due at
the expiration of the fixed term option. The Corporation made a $7,500,000
capital contribution to the Bank from the loan proceeds.
The Bank has incurred indebtedness pursuant to FHLB advances as follows:
Amount Rate Maturity
------ ---- --------
$ 2,000,000 6.40% 08/01/2001
6,000,000 5.66% 09/04/2003
3,000,000 5.39% 10/03/2005
3,000,000 5.55% 10/02/2005
-------------
$14,000,000
=============
The Bank may add indebtedness of this nature in the future if determined to be
in the best interest of the Bank. Capital for the Bank is above regulatory
requirements at June 30, 2000. Pertinent capital ratios for the Bank as of June
30, 2000 are as follows:
Minimum
Actual Requirements
------ ------------
Tier 1 risk-based capital ratio 9.25% 4.0%
Total risk-based capital ratio 10.47% 8.0%
Leverage ratio 6.65% 4.0%
Dividends from the Bank to the Corporation may not exceed the undivided profits
of the Bank (included in consolidated retained earnings) without prior approval
of a federal regulatory agency. In addition, Federal banking laws limit the
amount of loans the Bank may make to the Corporation, subject to certain
collateral requirements. No dividends were declared, or loans made, during 2000
or 1999 by the Bank to the Corporation.
10
<PAGE>
Other Information
Item 1. Legal Proceedings
Neither The National Bank of Indianapolis Corporation nor its
subsidiary are involved in any pending legal proceedings at this
time, other than routine litigation incidental to its business.
Item 2. Changes in Securities - Not applicable.
Item 3. Defaults Upon Senior Securities - Not applicable.
Item 4. Submission of Matters to a Vote of Security Holders - None.
Item 5. Other Information - Not applicable.
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits - Exhibit 27 - Financial Data Schedule
(b) No reports on Form 8-K were filed during the last quarter
of the fiscal year.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: August 10, 2000
---------------
THE NATIONAL BANK OF INDIANAPOLIS CORPORATION
/s/ Debra L. Ross
-------------------------------------------
Debra L. Ross
Chief Financial Officer
