Exhibit 99.3 SELECTED FINANCIAL DATA The following table sets forth selected financial data for the last five years.
2000 Net interest income Provision for loan losses Net income Per share data: Basic earnings Diluted earnings Cash dividends declared Balance sheet: Average total equity Average assets Period-end FHLB and other borrowings and guaranteed preferred beneficial interests Period-end total equity Period-end assets $ 1999 1998 1997 $ 1996 503,881 26,102 151,521 1.25 1.23 .57
(in Thousands Except Per Share Data) 718,512 $ 676,702 $ 604,160 $ 558,508 65,578 35,201 39,995 33,220 241,623 228,968 191,213 172,673 1.91 $ 1.90 .88 1.84 $ 1.82 .80 1.55 $ 1.52 .70 1.41 1.38 .63
$
$
$ 1,353,387 $ 1,253,070 $ 1,186,271 19,800,819 18,365,158 15,988,646 2,585,185 1,510,004 20,877,160 2,608,223 1,254,929 19,152,848 2,064,220 1,248,676 17,940,640
$ 1,051,997 14,728,533 1,436,333 1,113,984 15,370,950
$ 948,017 13,388,025 736,212 989,857 14,086,115
47
Loans The Loan Portfolio table presents the classifications of loans by major category at December 31, 2000, and for each of the preceding four years. The second table presents maturities of certain loan classifications at December 31, 2000, and an analysis of the rate structure for such loans with maturities greater than one year. Loan Portfolio
December 31 2000 Amount Commercial loans Commercial, financial and agricultural Real estate — construction Commercial real estate — mortgage Total commercial loans Consumer loans Residential real estate — mortgage Consumer installment Total consumer loans Less: Allowance for loan losses Net loans Percent of Total 1999 Amount Percent of Total 1998 Amount Percent of Total 1997 Percent Amount of Total 1996 Percent Amount of Total
(in Thousands)
$ 4,056,090 2,291,580 2,140,270 8,487,940
33.1% $ 3,585,432 18.7 17.5 69.3 1,872,703 1,877,619 7,335,754
31.0% $ 3,190,708 16.2 16.2 63.4 1,309,141 1,474,267 5,974,116
30.3% $2,451,378 12.4 14.0 56.7 871,803 1,254,865 4,578,046
24.9% $2,019,972 8.8 12.7 46.4 701,390 1,189,798 3,911,160
22.8% 7.9 13.4 44.1
2,132,053 1,638,761 3,770,814 12,258,754
17.4 13.3 30.7
2,592,370 1,630,554 4,222,924
22.4 14.2 36.6
2,681,660 1,883,064 4,564,724
25.4 17.9 43.3
3,210,939 2,079,784 5,290,723
32.5 21.1 53.6
3,147,646 1,792,143 4,939,789
35.6 20.3 55.9
100.0% 11,558,678 100.0% 10,538,840 100.0% 9,868,769 100.0% 8,850,949 100.0%
167,288 $12,091,466
151,211 $11,407,467
141,609 $10,397,231
139,234 $9,729,535
134,288 $8,716,661
Selected Loan Maturity and Interest Rate Sensitivity
Maturity One Year or Less Commercial, financial and agricultural $1,941,312 Real estate — construction 1,235,701 $3,177,013 Over One Year Through Five Years Over Five Years Rate Structure For Loans Maturing Over One Year Predetermined Interest Rate Floating or Adjustable Rate
Total
(in Thousands) $1,669,256 1,017,910 $2,687,166 $445,522 $4,056,090 37,969 2,291,580 $483,491 $6,347,670 $1,097,519 318,322 $1,415,841 $1,017,259 737,557 $1,754,816
48
Investment Securities The following table reflects the carrying amount of the investment securities portfolio at the end of each of the last three years. Investment Securities and Investment Securities Available for Sale
December 31 2000 Investment securities: U.S. Treasury U.S. Government agencies and corporations Mortgage-backed pass-through securities Collateralized mortgage obligations: Agency Non-agency States and political subdivisions Corporate bonds Other Investment securities available for sale: U.S. Treasury U.S. Government agencies and corporations Mortgage-backed pass-through securities Collateralized mortgage obligations: Agency Non-agency States and political subdivisions Asset-backed securities and corporate bonds Other Net unrealized gain (loss) Total 1999 (in Thousands) $ — 61,738 88,241 $ 4,997 51,754 127,788 $ 18,707 62,840 188,850 317,404 1,291,089 89,464 4,970 830 1,974,154 146,826 136,252 279,195 918,532 1,924,564 40,984 113,073 111,565 3,670,991 18,359 3,689,350 $5,663,504 1998
195,296 1,007,278 79,871 — 2,265 1,434,689 148,514 204,820 421,494 831,956 2,926,862 114,541 262,842 189,180 5,100,209 (25,390) 5,074,819 $6,509,508
215,470 1,081,960 76,180 1,675 805 1,560,629 147,207 144,711 384,599 908,465 2,054,152 107,104 485,692 175,311 4,407,241 (149,393) 4,257,848 $5,818,477
49
Investment Securities and Investment Securities Available for Sale Maturity Schedule
Maturing Within One Year Amount Investment securities: U.S. Government agencies and corporations Mortgage-backed pass-through securities Collateralized mortgage obligations States and political subdivisions Other Investment securities available for sale — amortized cost: U.S. Treasury U.S. Government agencies and corporations Mortgage-backed pass-through securities Collateralized mortgage obligations States and political subdivisions Asset-backed securities and corporate bonds Other Total Yield After One But Within Five Years Amount Yield After Five But Within Ten Years Amount After Ten Years Yield
Yield Amount
(in Thousands) $ 57 16,985 12,947 7,917 25 37,931 8.83% $ 22,625 5.72 55,079 6.54 319,067 8.95 36,944 8.00 750 6.68 434,465 5.95% $ 38,987 7.52 6,123 6.73 716,992 8.41 19,368 7.04 — 6.93 781,470 6.33% $ 69 6.75 10,054 6.71 153,568 9.42 15,642 — 1,490 6.75 180,823 7.57% 6.75 7.28 11.95 8.60 7.67
38,495 1,715 811 117,436 2,929 262,842 180,916 605,144 $643,075
6.32 6.35 6.56 6.63 7.43 7.17 6.60 6.84 6.83
104,903 117,515 176,223 2,366,458 27,958 — 8,264 2,801,321 $3,235,786
5.39 7.00 6.59 6.98 7.48 — 9.50 6.91 6.91
2,977 41,771 195,470 873,886 22,832 — — 1,136,936 $1,918,406
5.80 6.25 6.36 7.05 7.52 — — 6.91 6.84
2,139 43,819 48,990 401,038 60,822 — — 556,808 $737,631
5.03 6.67 6.74 6.72 7.30 — — 6.77 6.99
Trading Account Securities and Other Earning Assets The following table details the composition of the Company’s trading account at December 31, 2000, 1999 and 1998. Trading Account Composition
December 31 2000 U.S. Treasury and Government agency States and political subdivisions Mortgage-backed pass-through securities Other debt securities Collateralized mortgage obligations Interest rate floors and caps $ 5,076 2,091 8,621 133 275 1,015 $17,211 1999 1998 (in Thousands) $12,987 $ 44,605 12,827 20,400 18,926 50,379 — 3,000 5,848 8,750 117 537 $50,705 $127,671
50
Deposits and Borrowed Funds The following table summarizes the maturities of certificates of deposit of $100,000 or more and other time deposits of $100,000 or more outstanding at December 31, 2000. Maturities of Time Deposits
Certificates of Deposit Over $100,000 Three months or less Over three through six months Over six through twelve months Over twelve months $ 898,707 352,810 377,236 390,928 $2,019,681 Other Time Deposits Over $100,000 (in Thousands) $40,587 — 500 — $41,087
Total $ 939,294 352,810 377,736 390,928 $2,060,768
51
The Short-Term Borrowings table below presents the distribution of the Company’s short-term borrowed funds and the weighted average interest rates thereon at the end of each of the last three years. Also provided are the maximum outstanding amounts of borrowings, the average amounts of borrowings and the average interest rates at year end for the last three years. Short-Term Borrowings
Year Ended December 31 Maximum Outstanding At Any Month End 2000 Federal funds purchased Securities sold under agreements to repurchase Short sales Commercial paper Other short-term borrowings Average Interest Rate Average Interest Rate At Year End
Average Balance
Ending Balance
(in Thousands) $1,475,095 613,465 19,018 114,616 336,342 $2,558,536 1999 Federal funds purchased Securities sold under agreements to repurchase Short sales Commercial paper Other short-term borrowings 1998 Federal funds purchased Securities sold under agreements to repurchase Short sales Commercial paper Other short-term borrowings $1,402,025 602,303 31,958 112,785 174,832 $2,323,903 $1,696,945 449,433 41,590 108,627 114,003 $2,410,598 $ 955,210 457,593 9,961 94,044 103,849 $1,620,657 $ 946,607 392,270 18,783 96,017 63,989 $1,517,666 $ 951,267 257,499 28,362 76,732 67,030 $1,380,890 5.26% 4.91 5.39 5.14 5.61 4.95% 4.55 5.33 4.57 5.67 6.36% 6.15 5.91 5.87 5.30 $1,097,171 514,734 3,289 85,326 74,656 $1,775,176 $1,040,505 332,825 19,821 83,622 71,419 $1,548,192 $1,447,495 306,800 21,547 79,456 58,846 $1,914,144 4.67% 4.30 4.39 4.74 4.48 4.06% 3.95 4.07 5.00 5.81 5.95% 5.95 4.54 6.07 5.23
52
Interest Rate Sensitivity Management The estimated impact on the Company’s net interest income sensitivity over a one-year time horizon at December 31, 2000 is shown below along with comparable prior year information. Such analysis assumes an immediate and sustained parallel shift in interest rates, a static balance sheet and the Company’s estimate of how interest-bearing transaction accounts will reprice in each scenario.
Percentage Increase (Decrease) in Interest Income/Expense Given Immediate and Sustained Parallel Interest Rate Shifts Down 100 Basis Points Up 100 Basis Points
Principal Amount of Earning Assets, Interest Bearing Liabilities (in Thousands) December 31, 2000[a]: Assets which reprice in: One year or less Over one year
$ 6,871,176 11,232,479 $18,103,655
(8.77)% (3.45) (5.65)
8.55% 2.16 4.81
Liabilities which reprice in: One year or less Over one year
$11,205,416 4,020,436 $15,225,852
(14.32) (2.64) (10.49) (0.26)
13.24 3.23 9.96 (0.94)
Total net interest income sensitivity December 31, 1999[a]: Assets which reprice in: One year or less Over one year Liabilities which reprice in: One year or less Over one year Total net interest income sensitivity
$ 6,628,598 10,256,467 $16,885,065 $10,816,883 3,601,367 $14,418,250
(7.66)% (1.74) (4.19) (14.75) (3.22) (11.10) 2.92
7.73% 1.70 4.19 16.35 3.85 12.39 (4.25)
[a] Amounts have not been restated for the First Tier merger. 53
Capital Resources Return on Equity and Assets
December 31 2000 Return on average assets Return on average common equity Dividend payout ratio Average common shareholders’ equity to average assets ratio 1999 1998 1.22% 1.25% 1.20% 17.85 18.28 16.31 43.88 42.09 42.35 6.84 6.76 7.23
The following table shows the calculation of capital ratios for the Company for the last two years.
Capital Ratios December 31 2000 (in Thousands) Risk-based capital: Tier I Capital Tangible Tier I Capital Total Qualifying Capital Assets: Net risk-adjusted assets Adjusted quarterly average assets Adjusted tangible quarterly average assets Ratios: Tier I Capital Total Qualifying Capital Leverage Tangible leverage $ 1,392,402 1,379,273 1,879,401 $16,719,238 20,178,471 20,165,342 8.33% 11.24 6.90 6.84 $ 1,237,380 1,222,741 1,746,169 $15,203,273 18,875,556 18,860,917 8.14% 11.49 6.56 6.48 1999
The following table presents certain interest rates without modification for tax equivalency. The table on pages 55 and 56 contains these same percentages on a taxable equivalent basis. Tax-exempt earning assets continue to make up a smaller percentage of total earning assets. As a result, the difference between these interest rates with and without modification for tax equivalency continues to narrow.
December 31 2000 Rate earned on interest earning assets Rate paid on interest bearing liabilities Interest rate spread Net yield on earning assets 8.26% 5.17 3.09 3.92 1999 7.76% 4.47 3.29 3.99 1998 8.06% 4.68 3.38 4.13
54
Consolidated Average Balance Sheets and Rate/Volume Variances Taxable Equivalent Basis
Year Ended December 31 2000 YIELD/RATE ANALYSIS Assets Earning assets: Loans, net of unearned income* Investment securities available for sale Investment securities: Taxable Tax-exempt Trading account securities Federal funds sold and securities purchased under agreements to resell Total earning assets Allowance for loan losses Unrealized gain (loss) on investment securities available for sale Cash and due from banks Other assets Total assets Liabilities and Shareholders’ Equity Interest bearing liabilities: Interest bearing demand deposits Savings deposits Certificates of deposit less than $100,000 and other time deposits Certificates of deposit of $100,000 or more Total interest bearing deposits Federal funds purchased Securities sold under agreement to repurchase Other short-term borrowings FHLB and other borrowings Total interest bearing liabilities Net interest income/net interest spread Noninterest bearing demand deposits Accrued expenses and other liabilities Shareholders’ equity Total liabilities and shareholders’ equity Net yield on earning assets Taxable equivalent adjustment: Loans Investment securities available for sale Investment securities Trading account securities Total taxable equivalent adjustment Net interest income 201 2,457 2,259 54 4,971 $ 718,512 2,889,724 146,652 1,353,387 $19,800,819 3.95% 391 2,297 2,281 72 5,041 $ 676,702 Average Balance Income/ Expense Yield/ Rate Average Balance 1999 Income/ Expense Yield/ Rate
$12,112,471 4,598,223 1,424,535 80,512 30,285 91,837 18,337,863 (157,924) (148,454) 674,566 1,094,768 $19,800,819
$1,101,110 303,590 100,495 7,078 2,122 6,145 1,520,540
9.09% 6.60 7.05 8.79 7.01 6.69 8.29
$10,835,016 4,259,896 1,634,457 79,660 70,248 98,963 16,978,240 (145,573) (54,333) 671,938 914,886 $18,365,158
$ 918,907 276,460 110,808 6,766 4,384 4,955 1,322,280
8.48% 6.49 6.78 8.49 6.24 5.01 7.79
$
182,111 6,024,014 3,424,563 1,784,188 11,414,876 955,210 457,593 207,854 2,375,523 15,411,056
3,298 229,854 200,543 109,647 543,342 60,754 28,142 11,609 153,210 797,057 723,483
1.81 3.82 5.86 6.15 4.76 6.36 6.15 5.59 6.45 5.17 3.12%
$
284,150 5,723,698 2,946,376 1,609,801 10,564,025 946,607 392,270 178,789 2,250,800 14,332,491
4,272 198,038 154,578 86,014 442,902 46,818 17,863 9,020 123,934 640,537 681,743
1.50 3.46 5.25 5.34 4.19 4.95 4.55 5.05 5.51 4.47 3.32%
2,630,747 148,850 1,253,070 $18,365,158 4.02%
55
Year Ended December 31 1998 Average Balance Income/ Expense Change in Interest Income/Expense Attributable to 2000 YIELD/RATE ANALYSIS Assets Earning assets: Loans, net of unearned income* Investment securities available for sale Investment securities: Taxable Tax-exempt Trading account securities Federal funds sold and securities purchased under agreements to resell Total earning assets Allowance for loan losses Unrealized gain (loss) on investment securities available for sale Cash and due from banks Other assets Total assets Liabilities and Shareholders’ Equity Interest bearing liabilities: Interest bearing demand deposits Savings deposits Certificates of deposit less than $100,000 and other time deposits Certificates of deposit of $100,000 or more Total interest bearing deposits Federal funds purchased Securities sold under agreement to repurchase Other short-term borrowings FHLB and other borrowings Total interest bearing liabilities Net interest income/net interest spread Noninterest bearing demand deposits Accrued expenses and other liabilities Shareholders’ equity Total liabilities and shareholders’ equity Net yield on earning assets Taxable equivalent adjustment: Loans Investment securities available for sale Investment securities Trading account securities Total taxable equivalent adjustment Net interest income 509 865 3,044 85 4,503 $ 604,160 2,354,845 145,855 1,186,271 $15,988,646 4.16% Yield/ Rate Volume Rate Mix Volume 1999 Rate Mix
$10,088,891 2,880,942 1,336,645 100,212 94,674
$ 881,201 187,779 93,084 8,691 5,939
8.73% $108,328 $ 66,094 6.52 6.96 8.67 6.27 21,957 (14,233) 72 (2,494) 4,686 4,413 239 541
$7,781 $ 65,137 $(25,222) $(2,209) 487 (493) 1 (309) 89,908 20,728 (1,782) (1,532) (864) (2,406) (180) (28) (363) (598) 37 5
141,159 14,642,523 (138,080)
7,768 1,184,462
5.50 8.09
(357) 113,273
1,663 77,636
(116) 7,351
(2,321) 170,138
(692)
200
(29,392) (2,928)
12,373 669,134 802,696 $15,988,646
$
584,299 4,611,810
13,223 168,545
2.26 3.65
(1,531) 10,391
881 20,605
(324) 820
(6,783) 40,584
(4,441) 2,273 (8,762) (2,329)
2,941,277 1,234,105 9,371,491 951,267 257,499 172,124 1,549,294 12,301,675
164,019 70,088 415,875 50,080 12,649 9,234 87,961 575,799 608,663
5.58 5.68 4.44 5.26 4.91 5.36 5.68 4.68
25,105 9,312 43,277 426 2,972 1,468 6,872 55,015
17,973 13,039 52,498 13,347 6,276 965 21,158 94,244
2,887 1,282 4,665 163 1,031 156 1,246 7,261
285 21,340
(9,706)
(20)
(4,196) (1,218)
55,426 (27,105) (1,294) (245) (2,949) (68) 6,617 357 39,846 102,001 (927) (476) (534) (37) (2,634) (1,239) (34,149) (3,114) 186
3.41% $ 58,258 $(16,608) $
90 $ 68,137 $ 4,757 $
56
Provision for Loan Losses, Net Charge-Offs and Allowance for Loan Losses The following table sets forth information with respect to the Company’s loans and the allowance for loan losses for the last five years. Summary of Loan Loss Experience
2000 Average loans, net of unearned income, outstanding during the year Allowance for loan losses, Beginning of year Charge-offs: Commercial, financial and agricultural Real estate — construction Real estate — mortgage: Residential Commercial Consumer installment Total Recoveries: Commercial, financial and agricultural Real estate — construction Real estate — mortgage: Residential Commercial Consumer installment Total Net charge-offs Provision charged to income Allowance for assets Acquired (sold) Allowance for loan losses, end Of year Net charge-offs to average Loans outstanding $ 1999 1998 (in Thousands) $12,112,471 $ 151,211 1997 1996
$10,835,016 $ 141,609
$10,088,891 $ 139,234
$9,368,566 $ 134,288
$8,297,160 $ 124,620
31,220 140 1,486 196 36,151 69,193
11,438 161 774 247 27,820 40,440
10,139 143 839 629 31,915 43,665
7,388 66 1,232 1,227 26,724 36,637
6,893 94 1,382 584 22,291 31,244
4,227 5 164 23 7,713 12,132 57,061 65,578 7,560 167,288 .47% $
4,534 4 118 280 6,122 11,058 29,382 35,201 3,783 151,211 .27% $
2,364 302 230 84 6,277 9,257 34,408 39,995 (3,212) 141,609 .34%
1,876 184 229 249 5,547 8,085 28,552 33,220 278 $ 139,234 .30%
2,077 229 387 272 4,672 7,637 23,607 26,102 7,173 $ 134,288 .28%
57
Allocation of Allowance for Loan Losses
December 31 2000 Percent of Loans to Total Loans 1999 Percent of Loans to Total Loans 1998 Percent of Loans to Total Loans 1997 Percent of Loans to Total Loans 1996 Percent of Loans to Total Loans
Amount Commercial, financial And agricultural Real estate– Construction Real estate–mortgage: Residential Commercial Consumer Installment
Amount
Amount
Amount
Amount
(in Thousands) $ 67,953 26,587 5,561 18,760 48,427 $167,288 33.1% 18.7 17.4 17.5 13.3 100.0% $ 63,257 18,562 3,233 17,289 48,870 $151,211 31.0% 16.2 22.4 16.2 14.2 100.0% $ 49,862 13,535 12,769 14,453 50,990 $141,609 30.3% 12.4 25.4 14.0 17.9 100.0% $ 40,505 10,278 18,707 15,129 54,615 $139,234 24.8% 8.8 32.5 12.7 21.2 100.0% $ 35,678 10,063 20,987 19,330 48,230 $134,288 22.8% 7.9 35.6 13.4 20.3 100.0%
Nonperforming Assets The following table summarizes the Company’s nonperforming assets for each of the last five years. Nonperforming Assets
December 31 2000 Nonacccrual loans Renegotiated loans Total nonperforming loans Other real estate Total nonperforming assets Accruing loans 90 days or more past due Total nonperforming loans as A percentage of loans Total nonperforming assets as A percentage of loans and ORE Loans 90 days or more past due as A percentage of loans $ 86,168 84 86,252 15,476 $101,728 $ 19,884 .70% .83 .16 1999 1998 1997 $30,135 2,334 32,469 7,249 $39,718 $14,777 .33% .40 .15 1996 $21,822 2,840 24,662 8,682 $33,344 $ 9,919 .28% .38 .11 (in Thousands) $75,565 $49,263 239 665 75,804 7,341 $83,145 $13,403 .66% .72 .12 49,928 6,968 $56,896 $ 8,987 .47% .54 .09
Details of nonaccrual loans at December 31, 2000 and 1999 appear below:
2000 Principal balance Interest that would have been recorded under original terms Interest actually recorded 1999
(in Thousands) $86,168 $75,565 10,242 8,346 2,589 3,519
58