EX-99.1

EX-99.1 5 d911820dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

GREAT WESTERN BANCORP, INC.

Consolidated Financial Data (Unaudited)

(Dollars in thousands except per share amounts)


	At or for the six months ended						At or for the three months ended
	March 31, 2015			March 31, 2014			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Operating Data:
Interest and dividend income (FTE)	$	181,876		$	175,796		$	89,794		$	92,082		$	92,265		$	89,078		$	85,993
Interest expense		15,248			16,559			7,579			7,669			7,715			7,778			7,929
Noninterest income		14,836			20,966			6,936			7,900			8,501			10,314			10,140
Noninterest expense		95,529			97,626			48,438			47,091			48,318			54,278			49,327
Provision for loan losses		12,998			(3,565	)		9,679			3,319			2,749			1,500			(2,690	)
Net income		46,421			54,575			19,724			26,697			27,875			22,502			25,971
Earnings per common share²	$	0.80		$	0.94		$	0.34		$	0.46		$	0.48		$	0.39		$	0.45
Performance Ratios:
Net interest margin (FTE)³		3.90	%		3.99	%		3.89	%		3.91	%		4.10	%		4.03	%		3.96	%
Adjusted net interest margin (FTE)^{1 3}		3.66	%		3.77	%		3.64	%		3.67	%		3.86	%		3.80	%		3.73	%
Return on average total assets³		0.96	%		1.19	%		0.83	%		1.10	%		1.19	%		0.98	%		1.15	%
Return on average common equity³		6.44	%		7.70	%		5.49	%		7.39	%		7.69	%		6.25	%		7.41	%
Return on average tangible common equity^{1 3}		13.8	%		17.9	%		11.8	%		15.8	%		16.3	%		14.2	%		17.3	%
Efficiency ratio¹		50.1	%		49.0	%		51.7	%		48.5	%		49.0	%		54.8	%		50.6	%
Capital:
Tier 1 capital ratio		11.5	%		12.4	%		11.5	%		11.8	%		11.8	%		12.1	%		12.4	%
Total capital ratio		12.6	%		13.6	%		12.6	%		12.9	%		12.9	%		13.1	%		13.6	%
Tier 1 leverage ratio		9.3	%		9.4	%		9.3	%		9.1	%		9.1	%		9.3	%		9.4	%
Common equity tier 1 ratio		10.7	%		*			10.7	%		*			*			*			*
Tangible common equity / tangible assets¹		8.4	%		8.4	%		8.4	%		8.3	%		8.2	%		8.3	%		8.4	%
Asset Quality:
Nonperforming loans	$	74,332		$	91,567		$	74,332		$	68,454		$	78,905		$	80,838		$	91,567
OREO	$	43,565		$	77,223		$	43,565		$	43,442		$	49,580		$	54,190		$	77,223
Nonperforming loans / total loans		1.05	%		1.40	%		1.05	%		0.98	%		1.16	%		1.21	%		1.40	%
Net charge-offs (recoveries)	$	8,090		$	5,146		$	9,073		$	(983	)	$	2,269		$	1,615		$	6,226
Net charge-offs (recoveries) / average total loans³		0.23	%		0.16	%		0.52	%		(0.06	)%		0.13	%		0.10	%		0.39	%
Allowance for loan losses / total loans		0.74	%		0.72	%		0.74	%		0.74	%		0.70	%		0.70	%		0.72	%
Watch-rated loans	$	384,448		$	209,134		$	384,448		$	275,473		$	287,723		$	266,416		$	209,134

¹	This is a non-GAAP financial measure management believes is helpful to interpreting our financial results. See the tables at the end of this document for the calculation of the measure and reconciliation to the most comparable GAAP measure.

²	[Share dilution calculated for the quarter represented approximately 0.1% of shares outstanding and, as such, diluted EPS equals EPS for all periods presented.]

³	Annualized for all partial-year periods.

*	Not applicable for period presented.

GREAT WESTERN BANCORP, INC.

Consolidated Income Statement (Unaudited)

(Dollars in thousands)


	For the six months ended						For the three months ended
	March 31, 2015			March 31, 2014			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Interest and dividend income
Loans	$	166,738		$	159,336		$	82,394		$	84,344		$	84,477		$	80,797		$	77,933
Taxable securities		11,066			13,592			5,379			5,687			6,173			6,598			6,623
Nontaxable securities		26			28			13			13			19			33			14
Dividends on securities		508			400			258			250			217			351			199
Federal funds sold and other		444			301			160			284			55			99			117

Total interest and dividend income		178,782			173,657			88,204			90,578			90,941			87,878			84,886
Interest expense
Deposits		11,999			13,310			5,984			6,015			6,135			6,319			6,431
Securities sold under agreements to repurchase		296			289			150			146			158			153			143
FHLB advances and other borrowings		1,839			1,840			893			946			861			751			803
Related party notes payable		459			460			227			232			231			230			226
Subordinated debentures and other		655			660			325			330			330			325			326

Total interest expense		15,248			16,559			7,579			7,669			7,715			7,778			7,929

Net interest income		163,534			157,098			80,625			82,909			83,226			80,100			76,957
Provision for loan losses		12,998			(3,565	)		9,679			3,319			2,749			1,500			(2,690	)

Net interest income after provision for loan losses		150,536			160,663			70,946			79,590			80,477			78,600			79,647

Noninterest income
Service charges and other fees		19,269			20,033			8,871			10,398			10,476			9,695			9,371
Net gain on sale of loans		3,124			2,563			1,580			1,544			1,654			1,322			947
Casualty insurance commissions		549			557			233			316			196			320			299
Investment center income		1,227			1,179			654			573			660			578			588
Net gain on sale of securities		51			6			—			51			84			—			6
Trust department income		2,006			1,905			938			1,068			891			942			1,000
Net increase (decrease) in fair value of loans at fair value		32,308			(380	)		15,208			17,100			(1,602	)		13,886			8,730
Net realized and unrealized gain (loss) on derivatives		(46,303	)		(7,599	)		(21,698	)		(24,605	)		(4,781	)		(17,797	)		(12,436	)
Other		2,605			2,702			1,150			1,455			923			1,368			1,635

Total noninterest income		14,836			20,966			6,936			7,900			8,501			10,314			10,140
Noninterest expense
Salaries and employee benefits		48,761			47,050			24,673			24,088			23,929			24,126			23,029
Occupancy expenses, net		8,008			8,719			3,984			4,024			3,913			4,894			4,486
Data processing		9,536			9,751			4,708			4,828			5,443			4,354			4,723
Equipment expenses		1,881			2,022			925			956			1,251			1,077			995
Advertising		1,674			2,172			946			728			1,361			1,213			1,088
Communication expenses		2,398			2,356			1,225			1,173			1,108			1,046			1,242
Professional fees		7,175			6,003			3,603			3,572			2,610			3,620			3,105
Net (gain) loss from sale of repossessed property and other assets		(384	)		(849	)		(16	)		(368	)		(38	)		(1,564	)		(278	)
Amortization of core deposits and other intangibles		4,626			9,379			2,313			2,313			2,767			4,069			4,691
Other		11,854			11,023			6,077			5,777			5,974			11,443			6,246

Total noninterest expense		95,529			97,626			48,438			47,091			48,318			54,278			49,327

Income before income taxes		69,843			84,003			29,444			40,399			40,660			34,636			40,460
Provision for income taxes		23,422			29,428			9,720			13,702			12,785			12,134			14,489

Net income	$	46,421		$	54,575		$	19,724		$	26,697		$	27,875		$	22,502		$	25,971

GREAT WESTERN BANCORP, INC.

Summarized Consolidated Balance Sheet (Unaudited)

(Dollars in thousands)


	As of
	March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Assets
Cash and due from banks	$	358,440		$	428,186		$	256,639		$	235,077		$	423,148
Securities		1,402,508			1,263,983			1,341,242			1,395,768			1,316,338
Total loans		7,072,465			6,986,765			6,787,467			6,678,501			6,531,763
Allowance for loan losses		(52,426	)		(51,820	)		(47,518	)		(47,038	)		(47,153	)

Loans, net		7,020,039			6,934,945			6,739,949			6,631,463			6,484,610
Goodwill and other intangible assets		707,410			709,723			712,036			714,803			718,872
Other assets		293,248			304,424			321,563			315,172			331,912

Total assets	$	9,781,645		$	9,641,261		$	9,371,429		$	9,292,283		$	9,274,880

Liabilities and stockholders’ equity
Noninterest-bearing deposits	$	1,374,589		$	1,381,887		$	1,303,015		$	1,294,131		$	1,268,925
Interest-bearing deposits		6,113,109			5,857,319			5,749,165			5,772,981			5,983,759

Total deposits		7,487,698			7,239,206			7,052,180			7,067,112			7,252,684
Securities sold under agreements to repurchase		163,343			190,585			161,687			185,620			204,793
FHLB advances and other borrowings		475,019			575,085			575,094			435,097			230,100
Other liabilities		186,033			185,015			161,378			173,490			149,647

Total liabilities		8,312,093			8,189,891			7,950,339			7,861,319			7,837,224
Stockholders’ equity		1,469,552			1,451,370			1,421,090			1,430,964			1,437,656

Total liabilities and stockholders’ equity	$	9,781,645		$	9,641,261		$	9,371,429		$	9,292,283		$	9,274,880

GREAT WESTERN BANCORP, INC.

Loan Portfolio Summary (Unaudited)

(Dollars in thousands)


	As of
	March 31, 2015			September 30, 2014			Change ($)			Change (%)
Commercial non-real estate	$	1,657,856		$	1,571,640		$	86,216			5.5	%
Agriculture		1,748,366			1,681,209			67,157			4.0	%
Construction and development		310,011			314,000			(3,989	)		(1.3	)%
Owner-occupied CRE		1,110,074			1,151,868			(41,794	)		(3.6	)%
Non-owner-occupied CRE		1,011,274			922,395			88,879			9.6	%
Multifamily residential real estate		241,896			152,931			88,965			58.2	%

Commercial real estate		2,673,255			2,541,194			132,061			5.2	%
Residential real estate		905,114			901,605			3,509			0.4	%
Consumer		80,036			90,086			(10,050	)		(11.2	)%
Other¹		35,433			34,243			1,190			3.5	%

Total unpaid principal balance		7,100,060			6,819,977			280,083			4.1	%
Less: Unamortized discount on acquired loans and unearned net deferred fees and costs and loans in process		(27,595	)		(32,510	)		4,915			(15.1	)%

Total loans	$	7,072,465		$	6,787,467		$	284,998			4.2	%

¹	Other loans primarily include consumer and commercial credit cards and customer deposit account overdrafts.

GREAT WESTERN BANCORP, INC.

Net Interest Margin (FTE) (Unaudited)

(Dollars in thousands)


	For the three months ended
	March 31, 2015							December 31, 2014							March 31, 2014
	Average Balance		Interest (FTE)¹		Yield / Cost²			Average Balance		Interest (FTE)¹		Yield / Cost²			Average Balance		Interest (FTE)¹		Yield / Cost²
Assets
Cash and due from banks	$	265,929	$	160		0.24	%	$	442,902	$	284		0.25	%	$	191,031	$	117		0.25	%
Investment securities		1,334,460		5,650		1.72	%		1,336,235		5,950		1.77	%		1,381,475		6,836		2.01	%
Loans, other than loans acquired with deteriorated credit quality, net		6,828,510		81,907		4.86	%		6,626,507		82,876		4.96	%		6,224,179		78,155		5.09	%
Loans acquired with deteriorated credit quality, net		131,578		2,077		6.40	%		151,044		2,972		7.81	%		204,428		885		1.76	%

Loans, net		6,960,088		83,984		4.89	%		6,777,551		85,848		5.03	%		6,428,607		79,040		4.99	%

Total interest-earning assets		8,560,477		89,794		4.25	%		8,556,688		92,082		4.27	%		8,001,113		85,993		4.36	%
Noninterest-earning assets		1,090,176							1,109,386							1,155,039

Total assets	$	9,650,653	$	89,794		3.77	%	$	9,666,074	$	92,082		3.78	%	$	9,156,152	$	85,993		3.81	%

Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	1,282,530						$	1,492,262						$	1,216,315
NOW, MMDA and savings deposits		4,447,606	$	3,266		0.30	%		4,149,871	$	2,651		0.25	%		3,978,103	$	2,318		0.24	%
CDs		1,567,763		2,718		0.70	%		1,683,865		3,364		0.79	%		1,940,266		4,113		0.86	%

Total deposits		7,297,899		5,984		0.33	%		7,325,998		6,015		0.33	%		7,134,684		6,431		0.37	%
Securities sold under agreements to repurchase		182,386		150		0.33	%		167,835		146		0.35	%		192,333		143		0.30	%
FHLB advances and other borrowings		528,571		893		0.69	%		566,486		946		0.66	%		259,056		803		1.26	%
Related party notes payable		41,295		227		2.23	%		41,295		232		2.23	%		41,295		226		2.22	%
Subordinated debentures and other		56,083		325		2.35	%		56,083		330		2.33	%		56,083		326		2.36	%

Total borrowings		808,335		1,595		0.80	%		831,699		1,654		0.79	%		548,767		1,498		1.11	%

Total interest-bearing liabilities		8,106,234	$	7,579		0.38	%		8,157,697	$	7,669		0.37	%		7,683,451	$	7,929		0.42	%
Noninterest-bearing liabilities		86,288							74,540							51,768
Stockholders’ equity		1,458,131							1,433,837							1,420,933

Total liabilities and stockholders’ equity	$	9,650,653						$	9,666,074						$	9,156,152

Net interest spread						3.39	%						3.41	%						3.39	%
Net interest income and net interest margin (FTE)¹			$	82,215		3.89	%			$	84,413		3.91	%			$	78,064		3.96	%

Less: Tax equivalent adjustment				1,590							1,504							1,107

Net interest income and net interest margin - ties to Statements of Comprehensive Income			$	80,625		3.82	%			$	82,909		3.84	%			$	76,957		3.90	%

¹	These are non-GAAP financial measures management believes are helpful to interpreting our financial results. See the tables at the end of this document for the calculation of the measures and reconciliation to the most comparable GAAP measure.

²	Annualized for all partial-year periods.

GREAT WESTERN BANCORP, INC.

Net Interest Margin (FTE) (Unaudited)

(Dollars in thousands)


	For the six months ended
	March 31, 2015							March 31, 2014
	Average Balance		Interest (FTE)¹		Yield / Cost²			Average Balance		Interest (FTE)¹		Yield / Cost²
Assets
Cash and due from banks	$	354,415	$	444		0.25	%	$	195,307	$	301		0.31	%
Investment securities		1,335,348		11,600		1.74	%		1,428,379		14,020		1.97	%
Loans, other than loans acquired with deteriorated credit quality, net		6,727,508		164,783		4.91	%		6,186,621		158,701		5.14	%
Loans acquired with deteriorated credit quality, net		141,311		5,049		7.17	%		202,235		2,774		2.75	%

Loans, net		6,868,819		169,832		4.96	%		6,388,856		161,475		5.07	%

Total interest-earning assets		8,558,582		181,876		4.26	%		8,012,542		175,796		4.40	%
Noninterest-earning assets		1,097,254							1,189,536

Total assets	$	9,655,836	$	181,876		3.78	%	$	9,202,078	$	175,796		3.83	%

Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	1,387,396						$	1,226,039
NOW, MMDA and savings deposits		4,298,739	$	5,918		0.28	%		3,934,543	$	4,566		0.23	%
CDs		1,625,814		6,081		0.75	%		1,956,472		8,744		0.90	%

Total deposits		7,311,949		11,999		0.33	%		7,117,054		13,310		0.38	%
Securities sold under agreements to repurchase		175,111		296		0.34	%		198,207		289		0.29	%
FHLB advances and other borrowings		547,528		1,839		0.67	%		311,273		1,840		1.19	%
Related party notes payable		41,295		459		2.23	%		41,295		460		2.23	%
Subordinated debentures and other		56,083		655		2.34	%		56,083		660		2.36	%

Total borrowings		820,017		3,249		0.79	%		606,858		3,249		1.07	%

Total interest-bearing liabilities		8,131,966	$	15,248		0.38	%		7,723,912	$	16,559		0.43	%
Noninterest-bearing liabilities		77,886							56,688
Stockholders’ equity		1,445,984							1,421,478

Total liabilities and stockholders’ equity	$	9,655,836						$	9,202,078

Net interest spread						3.40	%						3.40	%
Net interest income and net interest margin (FTE)¹			$	166,628		3.90	%			$	159,237		3.99	%

Less: Tax equivalent adjustment				3,094							2,139

Net interest income and net interest margin - ties to Statements of Comprehensive Income			$	163,534		3.83	%			$	157,098		3.93	%

¹	These are non-GAAP financial measures management believes are helpful to interpreting our financial results. See the tables at the end of this document for the calculation of the measures and reconciliation to the most comparable GAAP measure.

²	Annualized for all partial-year periods.

Non-GAAP Measures and Reconciliation

We rely on certain non-GAAP measures in making financial and operational decisions about our business. We believe that each of the non-GAAP measures presented is helpful in highlighting trends in our business, financial condition and results of operations which might not otherwise be apparent when relying solely on our financial results calculated in accordance with U.S. generally accepted accounting principles, or GAAP.

In particular, we evaluate our profitability and performance based on our cash net income and return on average tangible common equity, each of which excludes the effects of amortization expense relating to intangible assets and related tax effects from the acquisition of us by National Australia Bank Limited and our acquisitions of other institutions. We believe these measures help highlight trends associated with our financial condition and results of operations by providing net income and return information based on our cash payments and receipts during the applicable period.

We also evaluate our profitability and performance based on our adjusted net interest income, adjusted net interest margin, adjusted interest income on loans other than loans acquired with deteriorated credit quality and adjusted yield on loans other than loans acquired with deteriorated credit quality. We adjust each of these four measures to include the current realized gain (loss) of derivatives we use to manage interest rate risk on certain of our loans, which we believe economically offsets the interest income earned on the loans. Similarly, we evaluate our operational efficiency based on our efficiency ratio, which excludes the effect of amortization of core deposit and other intangibles (a non-cash expense item) and includes the tax benefit associated with our tax-advantaged loans.

We evaluate our financial condition based on the ratio of our tangible common equity to our tangible assets. Our calculation of this ratio excludes the effect of our goodwill and other intangible assets. We believe this measure is helpful in highlighting the common equity component of our capital and because of its focus by federal bank regulators when reviewing the health and strength of financial institutions in recent years and when considering regulatory approvals for certain actions, including capital actions.

Reconciliations for each of these non-GAAP financial measures to the closest GAAP financial measures are included in the tables below. Each of the non-GAAP measures presented should be considered in context with our GAAP financial results included in this release.

GREAT WESTERN BANCORP, INC.

Reconciliation of Non-GAAP Measures (Unaudited)

(Dollars in thousands)


	At or for the six months ended						At or for the three months ended
	March 31, 2015			March 31, 2014			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Cash net income and return on average tangible common equity:
Net income	$	46,421		$	54,575		$	19,724		$	26,697		$	27,875		$	22,502		$	25,971
Add: Amortization of intangible assets		4,626			9,379			2,313			2,313			2,767			4,069			4,691
Add: Tax on amortization of intangible assets		(440	)		(1,622	)		(220	)		(220	)		(811	)		(811	)		(811	)

Cash net income	$	50,607		$	62,332		$	21,817		$	28,790		$	29,831		$	25,760		$	29,851

Average common equity	$	1,445,984		$	1,421,478		$	1,458,131		$	1,433,837		$	1,438,962		$	1,445,097		$	1,420,933
Less: Average goodwill and other intangible assets		709,935			721,652			708,782			711,088			713,462			717,104			721,529

Average tangible common equity	$	736,049		$	699,826		$	749,349		$	722,749		$	725,500		$	727,993		$	699,404

Return on average common equity *		6.44	%		7.70	%		5.49	%		7.39	%		7.69	%		6.25	%		7.41	%
Return on average tangible common equity *		13.8	%		17.9	%		11.8	%		15.8	%		16.3	%		14.2	%		17.3	%

*	Calculated as net income divided by average common equity and cash net income divided by average tangible common equity, respectively. Annualized for partial-year periods.

GREAT WESTERN BANCORP, INC.

Reconciliation of Non-GAAP Measures (Unaudited)

(Dollars in thousands)


	At or for the six months ended						At or for the three months ended
	March 31, 2015			March 31, 2014			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Adjusted net interest income and adjusted net interest margin (fully-tax equivalent basis):
Net interest income	$	163,534		$	157,098		$	80,625		$	82,909		$	83,226		$	80,100		$	76,957
Add: Tax equivalent adjustment		3,094			2,139			1,590			1,504			1,324			1,200			1,107

Net interest income (FTE)		166,628			159,237			82,215			84,413			84,550			81,300			78,064
Add: Current realized derivative gain (loss)		(10,589	)		(8,677	)		(5,307	)		(5,282	)		(4,978	)		(4,600	)		(4,389	)

Adjusted net interest income (FTE)	$	156,039		$	150,560		$	76,908		$	79,131		$	79,572		$	76,700		$	73,675

Average interest earning assets	$	8,558,582		$	8,012,542		$	8,560,477		$	8,556,688		$	8,181,194		$	8,098,052		$	8,001,113
Net interest margin (FTE) *		3.90	%		3.99	%		3.89	%		3.91	%		4.10	%		4.03	%		3.96	%
Adjusted net interest margin (FTE) **		3.66	%		3.77	%		3.64	%		3.67	%		3.86	%		3.80	%		3.73	%

*	Calculated as net interest income (FTE) divided by average interest earning assets. Annualized for partial-year periods.

**	Calculated as adjusted net interest income (FTE) divided by average interest earning assets. Annualized for partial-year periods.


Adjusted interest income and adjusted yield (fully-tax equivalent basis), on loans other than loans acquired with deteriorated credit quality:
Interest income	$	161,689		$	156,562		$	80,317		$	81,372		$	82,968		$	79,245		$	77,048
Add: Tax equivalent adjustment		3,094			2,139			1,590			1,504			1,324			1,200			1,107

Interest income (FTE)		164,783			158,701			81,907			82,876			84,292			80,445			78,155
Add: Current realized derivative gain (loss)		(10,589	)		(8,677	)		(5,307	)		(5,282	)		(4,978	)		(4,600	)		(4,389	)

Adjusted interest income (FTE)	$	154,194		$	150,024		$	76,600		$	77,594		$	79,314		$	75,845		$	73,766

Average loans other than loans acquired with deteriorated credit quality	$	6,727,508		$	6,186,621		$	6,828,510		$	6,626,507		$	6,527,721		$	6,362,850		$	6,224,179
Yield (FTE) *		4.91	%		5.14	%		4.86	%		4.96	%		5.12	%		5.07	%		5.09	%
Adjusted yield (FTE) **		4.60	%		4.86	%		4.55	%		4.65	%		4.82	%		4.78	%		4.81	%

*	Calculated as interest income (FTE) divided by average loans. Annualized for partial-year periods.

**	Calculated as adjusted interest income (FTE) divided by average loans. Annualized for partial-year periods.

GREAT WESTERN BANCORP, INC.

Reconciliation of Non-GAAP Measures (Unaudited)

(Dollars in thousands)


	At or for the six months ended						At or for the three months ended
	March 31, 2015			March 31, 2014			March 31, 2015			December 31, 2014			September 30, 2014			June 30, 2014			March 31, 2014
Efficiency ratio:
Total revenue	$	178,370		$	178,064		$	87,561		$	90,809		$	91,727		$	90,414		$	87,097
Add: Tax equivalent adjustment		3,094			2,139			1,590			1,504			1,324			1,200			1,107

Total revenue (FTE)	$	181,464		$	180,203		$	89,151		$	92,313		$	93,051		$	91,614		$	88,204

Noninterest expense	$	95,529		$	97,625		$	48,438		$	47,091		$	48,318		$	54,278		$	49,327
Less: Amortization of intangible assets		4,626			9,379			2,313			2,313			2,767			4,069			4,691

Tangible noninterest expense	$	90,903		$	88,246		$	46,125		$	44,778		$	45,551		$	50,209		$	44,636

Efficiency ratio *		50.1	%		49.0	%		51.7	%		48.5	%		49.0	%		54.8	%		50.6	%

* Calculated as the ratio of tangible noninterest expense to total revenue (FTE).
Tangible common equity and tangible common equity to tangible assets:
Total stockholders’ equity	$	1,469,552		$	1,437,656		$	1,469,552		$	1,451,370		$	1,421,090		$	1,430,964		$	1,437,656
Less: Goodwill and other intangible assets		707,410			718,872			707,410			709,723			712,036			714,803			718,872

Tangible common equity	$	762,142		$	718,784		$	762,142		$	741,647		$	709,054		$	716,161		$	718,784

Total assets	$	9,781,645		$	9,274,880		$	9,781,645		$	9,641,261		$	9,371,429		$	9,292,283		$	9,274,880
Less: Goodwill and other intangible assets		707,410			718,872			707,410			709,723			712,036			714,803			718,872

Tangible assets	$	9,074,235		$	8,556,008		$	9,074,235		$	8,931,538		$	8,659,393		$	8,577,480		$	8,556,008

Tangible common equity to tangible assets		8.4	%		8.4	%		8.4	%		8.3	%		8.2	%		8.3	%		8.4	%