-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, OaRONWwZAOodkV4v+SF58NzXlB4IQHUjOplp0snfxCC3UGMVXl+iao+uk0WmEF0V 3hA0k2QEAvxAvHauP61yFg== 0000950109-94-000077.txt : 19940128 0000950109-94-000077.hdr.sgml : 19940128 ACCESSION NUMBER: 0000950109-94-000077 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940119 ITEM INFORMATION: 5 ITEM INFORMATION: 7 FILED AS OF DATE: 19940126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMSOUTH BANCORPORATION CENTRAL INDEX KEY: 0000003133 STANDARD INDUSTRIAL CLASSIFICATION: 6022 IRS NUMBER: 630591257 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 34 SEC FILE NUMBER: 001-07476 FILM NUMBER: 94502787 BUSINESS ADDRESS: STREET 1: 1400 AMSOUTH SONAT TOWER STREET 2: P.O. BOX 11007 CITY: BIRMINGHAM STATE: AL ZIP: 35288 BUSINESS PHONE: 2053207151 FORMER COMPANY: FORMER CONFORMED NAME: ALABAMA BANCORPORATION DATE OF NAME CHANGE: 19810527 FORMER COMPANY: FORMER CONFORMED NAME: FIRST BIRMINGHAM CORP DATE OF NAME CHANGE: 19741107 8-K 1 FORM 8-K 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 January 19, 1994 (Date of earliest event reported) AMSOUTH BANCORPORATION ---------------------- (Exact name of registrant as specified in its charter) Delaware 1-7476 63-0591257 -------- ------ ---------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 1400 AmSouth-Sonat Tower Birmingham, Alabama 35203 -------------------------- (Address, including zip code, of principal executive office) (205) 320-7151 -------------- (Registrant's telephone number, including area code) Item 5. Other Events. - ------ ------------ AmSouth Bancorporation ("AmSouth") is filing this Current Report on Form 8-K to report its preliminary results of operations for the fourth quarter of 1993 and for the fiscal year ended December 31, 1993. On January 19, 1994, AmSouth issued a press release describing its results of operations for the fourth quarter of 1993 and for the year ended December 31, 1993. The press release is attached as Exhibit 99 and incorporated as part of this Current Report on Form 8-K. Item 7. Financial Statements and Exhibits. - ------ --------------------------------- The following exhibit is filed as part of this Current Report on Form 8-K. Exhibit No. Exhibit ---------- ------- 99 Press Release dated January 19, 1994 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 hereunto duly authorized. AMSOUTH BANCORPORATION By: /s/ Ricky W. Thomas ______________________________ Ricky W. Thomas Senior Vice President and Controller Date: January 26, 1994 Exhibit Index to Exhibits ------- ----------------- 99 Press Release dated January 19, 1994 EX-99 2 PRESS RELEASE News AmSouth Bancorporation Release Post Office Box 11007 Birmingham, Alabama 35288 AMSOUTH FOR IMMEDIATE RELEASE Contact: (Analyst) Sally B. Hawley (205) 581-7434 (News Media) Jim Underwood (205) 326-5184 AmSouth reports record performance for fourth quarter and 1993 BIRMINGHAM, ALABAMA, JANUARY 19, 1994 -- AmSouth Bancorporation reported record net income for the fourth quarter and the year ended December 31, 1993 of $38.1 million and $146.2 million respectively. These amounts on a per share basis were 80 cents for the quarter and $3.10 for the 12 months, and represent increases over the same periods of the previous year of 35.0 percent and 35.3 percent respectively. The net income on a per share basis for the year reflects the restatement of AmSouth's earnings for the first three quarters of 1993 to include the historical performance of the institutions merged in pooling-of-interests transactions in the fourth quarter. The sum of AmSouth's originally reported quarterly earnings for 1993 was $3.19 per share.
1993 Earnings per share 1993 1992 -------------------------------------------------------------------------------- Three Months Ended ------------------ Mar 31 Jun 30 Sept 30 Dec 31(a) Total Total Originally $ 0.79 $ 0.80 $ 0.80 $0.80 $ 3.19 $ 2.55 reported Effect of pooled acquisitions(b) (0.03) (0.02) (0.04) -- (0.09) (0.04) - ------------------------------------------------------------------------------------------------------------------ Restated $ 0.76 $ 0.78 $ 0.76 $0.80 $ 3.10 $ 2.51 (a) Includes operating results of four acquisitions closed in fourth quarter (b) Restatement due to The First National Bank of Clearwater and The Georgia State Bank of Rome
"The quarter just completed marks the 12th consecutive quarter of record level earnings and the best overall yearly performance in the company's history," stated John W. Woods, AmSouth's chairman and CEO. "Each of our major lines of business experienced increased earnings in 1993, while our credit quality and capital positions continued to strengthen." AmSouth's performance resulted from improved profitability as return on average assets reached 1.28 percent and return on average shareholders' equity was 14.93 percent for 1993. The corporation's total assets at year-end increased to a record $12.5 billion, an increase of 22.9 percent over year-end 1992. AmSouth's gross interest spread for the fourth quarter of 1993 was 4.45 percent compared to 4.44 percent originally reported in the third quarter. For the year the gross interest spread declined to 4.55 percent from the 4.72 percent restated for the previous year. This was primarily the result of general asset repricing in the lower interest rate environment during the year. At the same time, noninterest revenues in 1993 increased 18.3 percent from the levels restated for 1992. AmSouth made significant progress towards improving its efficiency and productivity during 1993. Employment was reduced in existing operations by approximately 430 positions through an early retirement program and normal attrition. Further reductions are anticipated upon completion of the company's Productivity Improvement Project by year-end 1994. The total annualized cost savings in personnel related expenses are estimated to exceed $20 million. The year was particularly eventful in terms of acquisitions, according to Woods. On February 1, AmSouth completed the acquisition of First Chattanooga Financial Corporation, which ranks second in market share in the greater Chattanooga area. The First National Bank of Clearwater and First Gulf Bank in St. Petersburg were merged into AmSouth Bank of Florida in mid-October and were followed December 9 by Mid-State Federal Savings Bank headquartered in Ocala. First Sunbelt Bankshares, parent company of The Georgia State Bank of Rome, was merged by AmSouth Bancorporation in mid-December, and Orange Banking Corporation, parent company of Orange Bank headquartered in Orlando was acquired January 3, 1994. These two banks will be merged into AmSouth Bank of Georgia and AmSouth Bank of Florida respectively during the first half of 1994. Other pending Florida acquisitions include Fortune Bank headquartered in Clearwater, FloridaBank in Jacksonville, Parkway Bank in Ft. Myers and Citizens National Bank in Naples. The acquisition of First Federal Savings Bank in Calhoun, Georgia also is pending. AmSouth anticipates completing all pending acquisitions by mid-year 1994. When pending acquisitions are completed, AmSouth Bancorporation will have assets approaching $17 billion and will operate more than 300 banking offices in four states. "We look forward to the challenges of 1994. The keys to our continued success will be the smooth integration of our remaining acquisitions, a commitment to quality loan growth, further development and strengthening of our noninterest revenues and improved productivity," Woods remarked. At year-end 1993, AmSouth Bancorporation operated 147 banking offices in Alabama, 64 offices in Florida, 20 offices in Tennessee and two in Georgia. Bank-related affiliates include AmSouth Mortgage Company, Inc. with 44 mortgage originating offices in nine Southeastern states, AmSouth Investment Services, Inc., and AmSouth Leasing Corporation. Performance Analysis The gross interest margin for the fourth quarter of 1993 exceeded originally reported amounts for the third quarter of 1993 by $7.4 million, primarily due to the acquisitions completed during the fourth quarter. The gross interest spread for the fourth quarter was 4.45 percent, or one basis point higher than the gross spread originally reported for the third quarter. Asset yield decline was offset by a higher incidence of loan fees and deposit pricing improvement. Loan growth for the fourth quarter compared to originally reported amounts for third quarter was $934 million, of which $732 million is attributable to the acquisitions. The provision for loan losses for the fourth quarter totaled $4.6 million compared to a negative $469,000 provision for loan losses originally reported for the third quarter. The fourth quarter amount represents a more normalized level of net charge offs of 28 basis points. Credit quality and coverage ratios remain strong. As of December 31, 1993, nonperforming assets as a percent of loans totaled 0.92 percent compared to 0.93 percent originally reported at the end of the third quarter and 1.43 percent originally reported at December 31, 1992. Allowance for loan losses as a percent of nonperforming loans equaled 245.8 percent at December 31, 1993, compared to 263.0 percent originally reported at September 30, 1993. Noninterest revenues for the fourth quarter were up $7.3 million over originally reported amounts for the three months ended September 30, 1993. Noninterest expenses increased $6.7 million over originally reported third quarter amounts primarily due to acquisitions. Approximately $3.6 million of nonrecurring merger-related expenses were recorded in the fourth quarter. AMSOUTH BANCORPORATION (Unaudited) (In thousands except per share data)
Three Months Twelve Months Ended December 31 Ended December 31 ---------------------------- % ---------------------------- % EARNINGS SUMMARY 1993 1992 Change 1993 1992 Change ------------------------------------------------ --------------------------------------------- Gross interest margin $ 118,291 $ 104,147 13.6 $ 462,077 $ 393,437 17.4 Provision for loan losses 4,620 9,857 (53.1) 18,980 36,555 (48.1) -------------- ------------- -------------- ------------- Net interest margin 113,671 94,290 20.6 443,097 356,882 24.2 Noninterest revenues 54,123 45,249 19.6 194,361 164,249 18.3 Noninterest expenses 112,223 100,378 11.8 420,087 370,056 13.5 -------------- ------------- -------------- ------------- Income before income taxes 55,571 39,161 41.9 217,371 151,075 43.9 Applicable income taxes 17,456 10,919 59.9 71,144 43,026 65.4 -------------- ------------- -------------- ------------- Net income $ 38,115 $ 28,242 35.0 $ 146,227 $ 108,049 35.3 ============== ============= ============== ============= Primary earnings per share $ 0.80 $ 0.66 21.2 $ 3.10 $ 2.51 23.5 Average primary shares outstanding 47,937 43,106 47,153 42,993 End of period shares outstanding 49,516 43,179 Average for Average for Three Months Twelve Months Ended December 31 Ended December 31 ---------------------------- % --------------------------- % BALANCE SHEET SUMMARY 1993 1992 Change 1993 1992 Change ------------------------------------------------ --------------------------------------------- Loans net of unearned income $ 7,433,578 $ 5,987,230 24.2 $ 7,043,158 $ 5,757,366 22.3 Investment securities 2,088,904 2,454,424 (14.9) 2,399,460 2,535,970 (5.4) Earning assets 10,918,580 8,918,348 22.4 10,543,124 8,755,820 20.4 Total assets 11,894,411 9,742,135 22.1 11,464,442 9,591,147 19.5 Noninterest-bearing deposits 1,578,264 1,278,292 23.5 1,491,647 1,206,281 23.7 Interest-bearing deposits 7,519,501 6,337,994 18.6 7,253,078 6,401,908 13.3 Total deposits 9,097,765 7,616,286 19.5 8,744,725 7,608,189 14.9 Shareholders' equity 1,033,516 815,897 26.7 979,435 790,873 23.8 Ending Balance December 31 ---------------------------- % BALANCE SHEET SUMMARY 1993 1992 Change ------------------------------------------------ Loans net of unearned income $ 7,930,224 $ 6,138,954 29.2 Investment securities 1,628,817 2,414,884 (32.6) Earning assets 11,401,805 9,296,651 22.6 Total assets 12,547,871 10,208,606 22.9 Noninterest-bearing deposits 1,618,687 1,374,078 17.8 Interest-bearing deposits 7,949,195 6,425,738 23.7 Total deposits 9,567,882 7,799,816 22.7 Shareholders' equity 1,090,009 824,755 32.2 1993 1992 --------------------------------------------------------------------------------- SELECTED RATIOS 4th Qtr 3rd Qtr 2nd Qtr 1st Qtr 4th Qtr --------------------------------------------------------------------------------- Average shareholders' equity to average total assets 8.69 % 8.53 % 8.51 % 8.40 % 8.37 % End of period shareholders' equity to end of period total assets 8.69 8.35 8.48 8.39 8.08 Tier 1 capital to risk-adjusted assets 10.00 * 9.88 10.03 9.92 9.38 Total capital to risk-adjusted assets 12.31 * 12.17 12.41 12.34 11.83 Loans net of unearned income to total deposits 82.88 81.98 80.73 80.02 78.71 Net income (annualized) to average total assets 1.27 1.22 1.30 1.31 1.15 Net income (annualized) to average shareholders' equity 14.63 14.26 15.32 15.64 13.77 Book value per common share 22.01 21.26 20.80 20.30 19.10 Efficiency ratio 63.58 65.65 59.09 61.06 65.25
* Estimated
AMSOUTH BANCORPORATION (In thousands) (Unaudited) 12/31/93 12/31/92 % Change ------------ ------------ ------------ LOANS Commercial $ 2,373,516 $ 2,290,113 3.6 Commercial real estate: Commercial real estate mortgages 1,056,752 888,000 19.0 Real estate construction 342,534 236,223 45.0 ----------- ----------- Total commercial real estate 1,399,286 1,124,223 24.5 Consumer: Residential first mortgages 2,262,669 1,060,889 113.3 Other residential mortgages 487,984 442,276 10.3 Dealer indirect 599,031 495,857 20.8 Other consumer 877,438 793,760 10.5 ----------- ----------- Total consumer 4,227,122 2,792,782 51.4 ----------- ----------- Total loans $ 7,999,924 $ 6,207,118 28.9 =========== ===========
1993 1992 --------------------------------------------------------------- ------------ Dec 31 Sept 30 Jun 30 Mar 31 Dec 31 --------------------------------------------------------------- ------------ NONPERFORMING ASSETS Nonaccrual loans $ 45,656 $ 39,281 $ 50,878 $ 55,380 $ 51,652 Restructured loans 2,382 2,674 2,702 1,788 4,924 ----------- ----------- ----------- ----------- ----------- Total nonperforming loans 48,038 41,955 53,580 57,168 56,576 Foreclosed properties 23,714 26,397 26,235 41,936 40,225 Repossessions 1,041 659 635 1,186 1,196 ----------- ----------- ----------- ----------- ----------- Total nonperforming assets $ 72,793 $ 69,011 $ 80,450 $ 100,290 $ 97,997 =========== =========== =========== =========== =========== Nonperforming assets to loans net of unearned income, foreclosed properties and repossessions 0.92% 0.96% 1.13% 1.45% 1.59% Accruing loans 90 days past due $ 19,960 $ 20,892 $ 20,657 $ 17,901 $ 16,983 =========== =========== =========== =========== ===========
1993 1992 --------------------------------------------------------------------------------- Dec 31 Sept 30 Jun 30 Mar 31 Dec 31 --------------------------------------------------------------------------------- ALLOWANCE FOR LOAN LOSSES Balance at beginning of period $ 108,694 $ 108,226 $ 108,401 $ 92,945 $ 90,923 Loans charged off 7,316 8,731 9,977 7,823 10,141 Recoveries of loans previously charged off 2,098 9,548 2,097 2,623 2,306 ----------- ----------- ----------- ----------- ----------- Net charge-offs 5,218 (817) 7,880 5,200 7,835 Addition to allowance charged to expense 4,620 (349) 7,705 7,004 9,857 Allowance of acquisitions 9,993 0 0 13,652 0 ----------- ----------- ----------- ----------- ----------- Balance at end of period $ 118,089 $ 108,694 $ 108,226 $ 108,401 $ 92,945 =========== =========== =========== =========== =========== Allowance for loan losses to loans net 1.49% 1.51% 1.53% 1.58% 1.51% of unearned income Net charge-offs to average loans net of unearned income * 0.28% (0.05%) 0.45% 0.32% 0.52% Allowance for loan losses to nonperforming loans 245.82% 259.07% 201.99% 189.62% 164.28% Allowance for loan losses to nonperforming assets 162.23% 157.50% 134.53% 108.09% 94.84%
* Annualized CONSOLIDATED AVERAGE DAILY BALANCES, REVENUE AND EXPENSE SUMMARY, YIELDS AND RATES-BY QUARTER AMSOUTH BANCORPORATION (Unaudited)
Fourth Quarter Ended December 31 1993 1992 -------------------------------------------------------------------------------------------- (Taxable Equivalent Basis - Average Revenue/ Yield/ Average Revenue/ Yield/ Dollars in Thousands) Balance Expense Rate Balance Expense Rate ------------------------------------------- ------------------------------------------- ASSETS Earning assets: Loans net of unearned income $ 7,433,578 $147,796 7.89 % $5,987,230 $123,655 8.22 % Investment securities Taxable securities 1,731,840 26,684 6.11 2,026,207 35,475 6.97 Tax-free securities 357,064 9,828 10.92 428,217 10,937 10.16 ---------- ------- --------- ------- Total investment securities 2,088,904 36,512 6.93 2,454,424 46,412 7.52 Other earning assets 1,396,098 16,676 4.74 476,694 8,079 6.74 ---------- ------- --------- ------- Total earning assets 10,918,580 200,984 7.30 8,918,348 178,146 7.95 Cash and other assets 1,087,684 916,068 Less allowance for loan losses 111,853 92,281 ---------- --------- $11,894,411 $9,742,135 ========== ========= LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing liabilities: Interest-bearing demand deposits $ 3,070,962 20,051 2.59 $2,810,195 19,077 2.70 Savings deposits 742,122 4,834 2.58 550,956 3,811 2.75 Time deposits 3,114,603 33,889 4.32 2,473,780 29,364 4.72 Certificates of deposit of $100,000 or more 591,815 6,010 4.03 503,063 6,088 4.81 Federal funds purchased and securities sold under agreements to repurchase 1,055,960 7,629 2.87 884,149 7,100 3.19 Other interest-bearing liabilities 538,807 6,191 4.56 298,060 4,113 5.49 ---------- ------- --------- ------- Total interest-bearing liabilities 9,114,269 78,604 3.42 7,520,203 69,553 3.68 ------- --------- ------- ----- Incremental interest spread 3.88 % 4.27 % ===== ===== Noninterest-bearing demand deposits 1,578,264 1,278,292 Other liabilities 168,362 127,743 Shareholders' equity 1,033,516 815,897 ---------- --------- $11,894,411 $9,742,135 ========== ========= Gross interest margin/spread on a taxable equivalent basis 122,380 4.45 % 108,593 4.85 % ===== ===== Taxable equivalent adjustment: Loans 811 1,054 Investment securities 3,273 3,382 Other earning assets 5 10 ------- ------- Total taxable equivalent adjustment 4,089 4,446 ------- ------- Gross interest margin $118,291 $104,147 ======= =======
CONSOLIDATED AVERAGE DAILY BALANCES, REVENUE AND EXPENSE SUMMARY, YIELDS AND RATES-YTD AMSOUTH BANCORPORATION (Unaudited) Twelve Months Ended December 31 1993 1992 ------------------------------------------------------------------------------------ (Taxable Equivalent Basis - Average Revenue/ Yield/ Average Revenue/ Yield/ Dollars in Thousands) Balance Expense Rate Balance Expense Rate ---------------------------------------- -------------------------------------- ASSETS Earning assets: Loans net of unearned income $ 7,043,158 $ 566,399 8.04 % $ 5,757,366 $ 492,434 8.55 % Investment securities Taxable securities 2,020,550 131,975 6.53 2,085,164 157,215 7.54 Tax-free securities 378,910 41,063 10.84 450,806 47,181 10.47 ------------ ---------- ----------- ---------- Total investment securities 2,399,460 173,038 7.21 2,535,970 204,396 8.06 Other earning assets 1,100,506 54,962 4.99 462,484 27,540 5.95 ------------ ---------- ----------- ---------- Total earning assets 10,543,124 794,399 7.53 8,755,820 724,370 8.27 Cash and other assets 1,029,329 925,374 Less allowance for loan losses 108,011 90,047 ------------ ----------- $ 11,464,442 $ 9,591,147 ============ =========== LIABILITIES AND SHAREHOLDERS' EQUITY Interest-bearing liabilities: Interest-bearing demand deposits $ 2,968,613 79,407 2.67 $ 2,777,200 87,198 3.14 Savings deposits 715,409 19,395 2.71 524,926 16,711 3.18 Time deposits 2,974,087 134,831 4.53 2,550,429 135,096 5.30 Certificates of deposit of $100,000 or more 594,969 24,998 4.20 549,353 27,757 5.05 Federal funds purchased and securities sold under agreements to repurchase 998,286 30,538 3.06 756,600 27,117 3.58 Other interest-bearing liabilities 597,035 25,715 4.31 299,444 17,200 5.74 ------------ ---------- ----------- ---------- Total interest-bearing liabilities 8,848,399 314,884 3.56 7,457,952 311,079 4.17 ---------- --------- ---------- --------- Incremental interest spread 3.97 % 4.10 % ========= ========= Noninterest-bearing demand deposits 1,491,647 1,206,281 Other liabilities 144,961 136,041 Shareholders' equity 979,435 790,873 ------------ ----------- $ 11,464,442 $ 9,591,147 ============ =========== Gross interest margin/spread on a taxable equivalent basis 479,515 4.55 % 413,291 4.72 % ========= ========= Taxable equivalent adjustment Loans 3,715 4,605 Investment securities 13,650 15,195 Other earning assets 73 54 ------------ ----------- Total taxable equivalent adjustment 17,438 19,854 ------------ ----------- Gross interest margin $ 462,077 $ 393,437 ============ ===========
AMSOUTH BANCORPORATION (Unaudited) (Dollars in Thousands)
Three Months Twelve Months Ended December 31 % Ended December 31 % ----------------------------- ----------------------------- NONINTEREST REVENUES 1993 1992 Change 1993 1992 Change ----------------------------------------- ------------------------------------------ Trust income $ 10,477 $ 10,244 2.3 $ 41,659 $ 40,069 4.0 Service charges on deposit accounts 14,059 12,726 10.5 55,727 49,161 13.4 Securities gains 131 7 1,771.4 1,216 4,615 (73.7) Mortgage administration fees 3,898 4,638 (16.0) 16,638 17,392 (4.3) Investment services income 3,273 3,732 (12.3) 19,835 16,875 17.5 Other operating revenues 22,285 13,902 60.3 59,286 36,137 64.1 ----------- ----------- ------------ ------------ Total $ 54,123 $ 45,249 19.6 $ 194,361 $ 164,249 18.3 =========== =========== ============ ============ NONINTEREST EXPENSES Salaries and employee benefits $ 50,922 $ 44,355 14.8 $ 206,012 $ 167,435 23.0 Net occupancy expense 8,554 7,443 14.9 33,103 28,144 17.6 Equipment expense 9,116 8,297 9.9 34,839 31,313 11.3 FDIC premiums 4,895 4,266 14.7 19,260 17,104 12.6 Foreclosed properties expense (76) 2,449 (103.1) (4,273) 22,106 (119.3) Other operating expenses 38,812 33,568 15.6 131,146 103,954 26.2 ----------- ----------- ------------ ------------ Total $ 112,223 $ 100,378 11.8 $ 420,087 $ 370,056 13.5 =========== =========== ============ ============ INTANGIBLE ASSETS 12/31/93 12/31/92 ----------- ----------- Goodwill $ 130,062 $ 69,335 Purchased mortgage servicing rights 32,649 29,698 Other intangibles 2,140 7,919 1993 1992 --------------------------------------------------------------------- -------- EARNINGS PER SHARE 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr TOTAL TOTAL --------------------------------------------------------------------- -------- Originally Reported $0.79 $0.80 $0.80 $0.80 $3.19 $2.55 Pooling Impact (0.03) (0.02) (0.04) - (0.09) (0.04) ---------- ---------- ---------- ---------- ---------- ---------- Restated $0.76 $0.78 $0.76 $0.80 $3.10 $2.51 ========== ========== ========== ========== ========== ==========
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