-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, E+UYZAfgIFtvo6yb1Q7YkP20HIWqe3J9kPTakJLpKbsOYcWqFbSWN0BDNOSw+3pG c1fdQY/zpkjOFq1mTG1pMA== /in/edgar/work/20000721/0000020405-00-000061/0000020405-00-000061.txt : 20000920 0000020405-00-000061.hdr.sgml : 20000920 ACCESSION NUMBER: 0000020405-00-000061 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000630 ITEM INFORMATION: FILED AS OF DATE: 20000721 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CITICORP CENTRAL INDEX KEY: 0000020405 STANDARD INDUSTRIAL CLASSIFICATION: [6021 ] IRS NUMBER: 132614988 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-05738 FILM NUMBER: 676434 BUSINESS ADDRESS: STREET 1: 399 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2125591000 MAIL ADDRESS: STREET 1: 425 PARK AVE- 2ND F STREET 2: ATTN: LEGAL AFFAIRS OFFICE CITY: NEW YORK STATE: NY ZIP: 10043 FORMER COMPANY: FORMER CONFORMED NAME: FIRST NATIONAL CITY CORP DATE OF NAME CHANGE: 19740414 FORMER COMPANY: FORMER CONFORMED NAME: CITY BANK OF NEW YORK NATIONAL ASSOCIATI DATE OF NAME CHANGE: 19680903 8-K 1 0001.txt INCOME STATEMENT 8-K 2Q00 CITICORP SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 19, 2000 CITICORP (Exact name of registrant as specified in charter) DELAWARE 1-5738 06-1515595 (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification Number) 399 PARK AVENUE, NEW YORK, NEW YORK 10043 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (212) 559-1000 NOT APPLICABLE (Former name or former address, if changed since last report) Item 5. Other Events. Results of Operations (Unaudited) This report summarizes the results of operations of Citicorp and its subsidiaries for the three- and six-month periods ended June 30, 2000 and June 30, 1999. Citigroup Inc., the parent company of Citicorp, filed a Current Report on Form 8-K dated July 19, 2000. That report contains certain additional information about Citicorp's businesses. CONSOLIDATED STATEMENTS OF INCOME CITICORP AND SUBSIDIARIES (Unaudited) (In Millions of Dollars) Second Quarter Six Months ---------------- ---------------- 2000 1999 2000 1999 ---------------- ---------------- INTEREST REVENUE Loans, including Fees $6,506 $5,544 $12,476 $11,364 Deposits with Banks 276 262 532 494 Federal Funds Sold and Securities Purchased Under Resale Agreements 99 97 171 238 Securities, including Dividends 786 855 1,611 1,995 Trading Account Assets 256 212 470 374 Loans Held For Sale 172 147 291 286 --------------- ---------------- 8,095 7,117 15,551 14,751 --------------- ---------------- INTEREST EXPENSE Deposits 3,198 2,567 6,001 5,432 Trading Account Liabilities 14 19 33 38 Purchased Funds and Other Borrowings 626 463 1,090 1,145 Long-Term Debt 456 432 931 932 --------------- ---------------- 4,294 3,481 8,055 7,547 --------------- ---------------- NET INTEREST REVENUE 3,801 3,636 7,496 7,204 --------------- ---------------- PROVISION FOR CREDIT LOSSES 711 790 1,462 1,519 --------------- ---------------- NET INTEREST REVENUE AFTER PROVISION FOR CREDIT LOSSES 3,090 2,846 6,034 5,685 --------------- ---------------- FEES, COMMISSIONS, AND OTHER REVENUE Fees and Commissions 2,343 1,859 4,498 3,554 Foreign Exchange 398 368 820 856 Trading Account 311 138 680 442 Securities Transactions 252 151 297 174 Other Revenue 746 852 2,760 1,614 --------------- ---------------- 4,050 3,368 9,055 6,640 --------------- ---------------- OPERATING EXPENSE Salaries 1,734 1,541 3,429 3,102 Employee Benefits 318 322 640 640 --------------- ---------------- Total Employee Expense 2,052 1,863 4,069 3,742 Net Premises and Equipment Expense 627 628 1,271 1,232 Restructuring-Related Items {a} 4 47 24 126 Other Expense 1,797 1,666 3,708 3,287 --------------- ---------------- 4,480 4,204 9,072 8,387 --------------- ---------------- INCOME BEFORE TAXES 2,660 2,010 6,017 3,938 Income Taxes 993 756 2,205 1,480 --------------- ---------------- NET INCOME $1,667 $1,254 $ 3,812 $ 2,458 --------------- ---------------- {a} Includes a restructuring charge of $22 million in the 2000 second quarter, credits for the reversal of prior charges of $47 million in the 2000 second quarter, and accelerated depreciation charges of $29 million and $49 million in the 2000 second quarter and six months, respectively, and $47 million and $126 million in the 1999 second quarter and six months, respectively. SIGNATURE 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. CITICORP (Registrant) By: /s/ Roger W. Trupin --------------------- Roger W. Trupin Vice President and Controller Dated: July 20, 2000 -----END PRIVACY-ENHANCED MESSAGE-----