Attached files
| file | filename |
|---|---|
| 8-K - MARSHALL & ILSLEY CORP | mi8k.htm |
| EX-99.1 - MARSHALL & ILSLEY CORP | exhibit99-1.htm |
Exhibit 99.2
| 1st Quarter 2011 |
Marshall & Ilsley Corporation |
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![[exh992002.gif]](exh992002.gif)
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| For additional inquiries or | |
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| questions, please contact: | |
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| M&I Investor Relations | |
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| (414) 765-7801 | |
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| e-mail: micorp@micorp.com | |
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| Gregory A. Smith | |
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| Chief Financial Officer | |
The following unaudited financial information has been provided or the benefit of showing |
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| (414) 765-7727 | |
M&I's current versus historical results. |
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| David L. Urban | |
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| Director of Investor Relations | |
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| (414) 765-7853 | |
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| James E. Sandy | |
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| VP / External Financial Reporting | |
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| (414) 765-8314 | |
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Marshall & Ilsley Corporation
Quarterly Financial Information
|
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
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| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
PER COMMON SHARE DATA |
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Diluted: |
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Net Income (Loss) |
| ($0.27) |
| ($0.25) |
| ($0.32) |
| ($0.33) |
| ($0.27) |
| ($0.54) |
| ($0.68) |
| ($0.83) |
| ($0.44) |
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Basic: |
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Net Income (Loss) |
| (0.27) |
| (0.25) |
| (0.32) |
| (0.33) |
| (0.27) |
| (0.54) |
| (0.68) |
| (0.83) |
| (0.44) |
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Dividend Declared per Common Share |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
| 0.01 |
Book Value per Common Share |
| 8.65 |
| 8.89 |
| 9.39 |
| 9.72 |
| 9.95 |
| 10.21 |
| 12.98 |
| 13.52 |
| 17.45 |
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Common Shares Outstanding (millions): |
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Average - Diluted |
| 526.0 |
| 525.3 |
| 524.7 |
| 524.3 |
| 524.1 |
| 479.3 |
| 366.8 |
| 280.8 |
| 264.5 |
End of Period |
| 530.5 |
| 528.7 |
| 528.0 |
| 527.6 |
| 527.1 |
| 525.4 |
| 368.3 |
| 368.1 |
| 265.7 |
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INCOME STATEMENT ($millions) |
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Net Interest Income (FTE) |
| $352.1 |
| $375.9 |
| $387.0 |
| $407.3 |
| $409.1 |
| $406.1 |
| $394.5 |
| $398.5 |
| $408.8 |
Provision for Loan and Lease Losses |
| 418.8 |
| 429.1 |
| 431.7 |
| 439.9 |
| 458.1 |
| 639.0 |
| 578.7 |
| 619.0 |
| 477.9 |
Non-Interest Revenues: |
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Wealth Management |
| 74.3 |
| 72.9 |
| 69.5 |
| 69.9 |
| 68.1 |
| 69.9 |
| 66.7 |
| 65.8 |
| 62.7 |
Service Charges on Deposits |
| 32.9 |
| 30.4 |
| 31.8 |
| 33.2 |
| 32.1 |
| 33.6 |
| 33.6 |
| 34.1 |
| 35.3 |
Mortgage Banking |
| 7.6 |
| 15.7 |
| 7.7 |
| 7.8 |
| 6.4 |
| 6.7 |
| 12.7 |
| 18.0 |
| 10.8 |
Net Investment Securities Gains (Losses) |
| 7.2 |
| 54.4 |
| 41.5 |
| 3.7 |
| 0.1 |
| 40.6 |
| (1.5) |
| 82.7 |
| 0.1 |
Bank-Owned Life Insurance Revenue |
| 11.2 |
| 12.0 |
| 12.1 |
| 11.8 |
| 10.8 |
| 11.4 |
| 10.3 |
| 8.0 |
| 9.3 |
Other |
| 53.3 |
| 70.5 |
| 60.9 |
| 47.6 |
| 104.2 |
| 77.6 |
| 102.2 |
| 56.2 |
| 56.2 |
Total Non-Interest Revenues |
| 186.5 |
| 255.9 |
| 223.5 |
| 174.0 |
| 221.7 |
| 239.8 |
| 224.0 |
| 264.8 |
| 174.4 |
Non-Interest Expenses: |
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Salaries and Employee Benefits |
| 155.5 |
| 175.8 |
| 191.0 |
| 185.3 |
| 161.6 |
| 169.2 |
| 179.2 |
| 187.2 |
| 155.2 |
Net Occupancy and Equipment |
| 34.1 |
| 33.6 |
| 33.0 |
| 33.0 |
| 34.1 |
| 36.2 |
| 33.3 |
| 32.4 |
| 33.8 |
Software Expenses |
| 8.9 |
| 8.8 |
| 8.1 |
| 8.6 |
| 7.9 |
| 6.7 |
| 7.7 |
| 7.0 |
| 6.6 |
Processing Charges |
| 30.6 |
| 30.1 |
| 32.1 |
| 32.2 |
| 32.1 |
| 31.8 |
| 33.6 |
| 33.8 |
| 33.7 |
Supplies, Printing, Postage and Delivery |
| 7.7 |
| 7.9 |
| 8.1 |
| 8.6 |
| 8.2 |
| 8.8 |
| 8.4 |
| 8.9 |
| 9.1 |
FDIC Insurance |
| 22.5 |
| 23.0 |
| 22.6 |
| 26.6 |
| 27.3 |
| 25.8 |
| 17.8 |
| 49.2 |
| 15.1 |
Professional Services |
| 22.3 |
| 41.3 |
| 27.5 |
| 26.7 |
| 20.8 |
| 26.6 |
| 23.5 |
| 22.0 |
| 19.2 |
Intangible Amortization |
| 4.4 |
| 5.0 |
| 5.0 |
| 5.0 |
| 5.1 |
| 5.9 |
| 5.9 |
| 5.8 |
| 5.8 |
Other |
| 40.0 |
| 74.9 |
| 92.6 |
| 62.0 |
| 68.9 |
| 94.4 |
| 96.1 |
| 66.4 |
| 64.7 |
Total Non-Interest Expenses |
| 326.0 |
| 400.4 |
| 420.0 |
| 388.0 |
| 366.0 |
| 405.4 |
| 405.5 |
| 412.7 |
| 343.2 |
Tax Equivalent Adjustment |
| 5.4 |
| 5.5 |
| 5.5 |
| 5.4 |
| 5.7 |
| 5.8 |
| 5.8 |
| 6.7 |
| 7.1 |
Pre-Tax Income (Loss) |
| (211.6) |
| (203.2) |
| (246.7) |
| (252.0) |
| (199.0) |
| (404.3) |
| (371.5) |
| (375.1) |
| (245.0) |
Provision (Benefit) for Income Taxes |
| (95.0) |
| (95.1) |
| (102.8) |
| (103.4) |
| (83.6) |
| (170.0) |
| (148.1) |
| (166.1) |
| (153.0) |
Net Income (Loss) Attributable to M&I |
| ($116.6) |
| ($108.1) |
| ($143.9) |
| ($148.6) |
| ($115.4) |
| ($234.3) |
| ($223.4) |
| ($209.0) |
| ($92.0) |
Preferred Dividends |
| (25.4) |
| (25.3) |
| (25.3) |
| (25.2) |
| (25.1) |
| (25.2) |
| (25.0) |
| (25.0) |
| (24.9) |
Net Income (Loss) Attributable to M&I Common |
| ($142.0) |
| ($133.4) |
| ($169.2) |
| ($173.8) |
| ($140.5) |
| ($259.5) |
| ($248.4) |
| ($234.0) |
| ($116.9) |
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1
Marshall & Ilsley Corporation
Quarterly Financial Information
|
| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
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| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
ASSETS - END OF PERIOD ($millions) |
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Cash and Due From Banks |
| $518 |
| $511 |
| $636 |
| $663 |
| $589 |
| $769 |
| $675 |
| $797 |
| $745 |
Trading Assets |
| 223 |
| 258 |
| 355 |
| 299 |
| 255 |
| 256 |
| 270 |
| 261 |
| 687 |
Short - Term Investments |
| 3,330 |
| 2,464 |
| 1,462 |
| 837 |
| 2,021 |
| 1,192 |
| 1,605 |
| 916 |
| 451 |
Investment Securities |
| 6,721 |
| 6,957 |
| 5,991 |
| 7,329 |
| 7,625 |
| 7,177 |
| 6,430 |
| 6,125 |
| 7,728 |
Loans and Leases: |
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Commercial Loans and Leases: |
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Commercial Loans |
| 10,885 |
| 11,197 |
| 11,516 |
| 11,802 |
| 11,861 |
| 12,476 |
| 13,041 |
| 14,282 |
| 14,576 |
Commercial Lease Financing |
| 399 |
| 426 |
| 437 |
| 445 |
| 454 |
| 474 |
| 492 |
| 510 |
| 532 |
Total Commercial Loans and Leases |
| 11,284 |
| 11,623 |
| 11,953 |
| 12,247 |
| 12,315 |
| 12,950 |
| 13,533 |
| 14,792 |
| 15,108 |
Commercial Real Estate |
| 11,933 |
| 12,401 |
| 13,057 |
| 13,310 |
| 13,532 |
| 13,646 |
| 13,884 |
| 13,938 |
| 12,999 |
Residential Real Estate |
| 4,035 |
| 4,341 |
| 4,579 |
| 4,625 |
| 4,824 |
| 4,969 |
| 5,135 |
| 5,465 |
| 5,711 |
Construction and Development: |
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Commercial |
| 1,442 |
| 1,871 |
| 2,106 |
| 2,713 |
| 3,134 |
| 3,257 |
| 3,604 |
| 3,790 |
| 4,643 |
Residential |
| 1,197 |
| 1,331 |
| 1,511 |
| 1,706 |
| 1,972 |
| 2,282 |
| 2,710 |
| 3,039 |
| 3,608 |
Total Construction and Development |
| 2,639 |
| 3,202 |
| 3,617 |
| 4,419 |
| 5,106 |
| 5,539 |
| 6,314 |
| 6,829 |
| 8,251 |
Consumer Loans and Leases: |
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Home Equity Loans and Lines |
| 4,051 |
| 4,213 |
| 4,367 |
| 4,487 |
| 4,590 |
| 4,715 |
| 4,813 |
| 4,912 |
| 5,025 |
Personal Loans |
| 1,176 |
| 1,142 |
| 2,058 |
| 2,120 |
| 2,158 |
| 2,258 |
| 2,268 |
| 2,068 |
| 1,952 |
Personal Lease Financing |
| 62 |
| 77 |
| 92 |
| 109 |
| 124 |
| 141 |
| 159 |
| 179 |
| 199 |
Total Consumer Loans and Leases |
| 5,289 |
| 5,432 |
| 6,517 |
| 6,716 |
| 6,872 |
| 7,114 |
| 7,240 |
| 7,159 |
| 7,176 |
Total Loans and Leases |
| 35,180 |
| 36,999 |
| 39,723 |
| 41,317 |
| 42,649 |
| 44,218 |
| 46,106 |
| 48,183 |
| 49,245 |
Reserve for Loan and Lease Losses |
| (1,374) |
| (1,388) |
| (1,388) |
| (1,517) |
| (1,515) |
| (1,481) |
| (1,414) |
| (1,368) |
| (1,352) |
Premises and Equipment, net |
| 520 |
| 528 |
| 546 |
| 553 |
| 558 |
| 566 |
| 570 |
| 573 |
| 570 |
Goodwill and Other Intangibles |
| 720 |
| 724 |
| 729 |
| 734 |
| 739 |
| 744 |
| 752 |
| 757 |
| 758 |
Other Assets |
| 3,803 |
| 3,779 |
| 3,833 |
| 3,689 |
| 3,648 |
| 3,769 |
| 3,551 |
| 3,450 |
| 2,958 |
Total Assets |
| $49,641 |
| $50,832 |
| $51,887 |
| $53,904 |
| $56,569 |
| $57,210 |
| $58,545 |
| $59,694 |
| $61,790 |
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LIABILITIES - END OF PERIOD ($millions) |
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Deposits: |
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Noninterest Bearing |
| $8,306 |
| $8,079 |
| $7,620 |
| $7,489 |
| $7,788 |
| $7,833 |
| $8,286 |
| $7,848 |
| $6,988 |
Interest Bearing: |
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Savings and NOW |
| 3,777 |
| 4,922 |
| 4,845 |
| 5,613 |
| 7,373 |
| 6,938 |
| 6,023 |
| 4,893 |
| 3,628 |
Money Market |
| 16,234 |
| 15,898 |
| 15,343 |
| 13,349 |
| 12,758 |
| 11,315 |
| 10,403 |
| 9,979 |
| 10,614 |
Time |
| 8,945 |
| 9,197 |
| 10,209 |
| 12,912 |
| 13,830 |
| 15,306 |
| 16,712 |
| 18,080 |
| 17,725 |
Foreign |
| 142 |
| 163 |
| 184 |
| 199 |
| 233 |
| 246 |
| 296 |
| 392 |
| 609 |
Total Interest Bearing |
| 29,098 |
| 30,180 |
| 30,581 |
| 32,073 |
| 34,194 |
| 33,805 |
| 33,434 |
| 33,344 |
| 32,576 |
Total Deposits |
| 37,404 |
| 38,259 |
| 38,201 |
| 39,562 |
| 41,982 |
| 41,638 |
| 41,720 |
| 41,192 |
| 39,564 |
Short - Term Borrowings |
| 200 |
| 228 |
| 556 |
| 957 |
| 894 |
| 1,120 |
| 1,541 |
| 1,475 |
| 5,336 |
Long - Term Borrowings |
| 4,967 |
| 5,029 |
| 5,370 |
| 5,604 |
| 5,865 |
| 6,426 |
| 7,512 |
| 9,297 |
| 9,539 |
Other Liabilities |
| 836 |
| 977 |
| 1,168 |
| 1,023 |
| 958 |
| 1,040 |
| 1,370 |
| 1,135 |
| 1,100 |
Total Liabilities |
| 43,407 |
| 44,493 |
| 45,295 |
| 47,146 |
| 49,699 |
| 50,224 |
| 52,143 |
| 53,099 |
| 55,539 |
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EQUITY - END OF PERIOD ($millions) |
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Preferred Equity |
| 1,669 |
| 1,665 |
| 1,661 |
| 1,658 |
| 1,654 |
| 1,650 |
| 1,646 |
| 1,643 |
| 1,639 |
Common Equity |
| 4,632 |
| 4,770 |
| 4,902 |
| 5,067 |
| 5,239 |
| 5,376 |
| 4,767 |
| 5,011 |
| 4,677 |
Accumulated Other Comprehensive Income: |
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Unrealized Gains (Losses) on Securities |
| (44) |
| (66) |
| 61 |
| 67 |
| 13 |
| (13) |
| 41 |
| 4 |
| 15 |
Unrealized Gains (Losses) on Derivatives |
| (35) |
| (42) |
| (48) |
| (50) |
| (52) |
| (44) |
| (64) |
| (75) |
| (93) |
Postretirement Benefits - Funded Status |
| 1 |
| 1 |
| 5 |
| 5 |
| 5 |
| 6 |
| 1 |
| 1 |
| 2 |
Total Accumulated Other Comprehensive Income |
| (78) |
| (107) |
| 18 |
| 22 |
| (34) |
| (51) |
| (22) |
| (70) |
| (76) |
Total Common Equity |
| 4,554 |
| 4,663 |
| 4,920 |
| 5,089 |
| 5,205 |
| 5,325 |
| 4,745 |
| 4,941 |
| 4,601 |
Marshall & Ilsley Corporation Shareholders' Equity |
| 6,223 |
| 6,328 |
| 6,581 |
| 6,747 |
| 6,859 |
| 6,975 |
| 6,391 |
| 6,584 |
| 6,240 |
Noncontrolling Interest in Subsidiaries |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
Total Equity |
| 6,234 |
| 6,339 |
| 6,592 |
| 6,758 |
| 6,870 |
| 6,986 |
| 6,402 |
| 6,595 |
| 6,251 |
Total Liabilities and Equity | $49,641 |
| $50,832 |
| $51,887 |
| $53,904 |
| $56,569 |
| $57,210 |
| $58,545 |
| $59,694 |
| $61,790 | |
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2
Marshall & Ilsley Corporation
Quarterly Financial Information
|
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
|
| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
AVERAGE ASSETS ($millions) |
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Cash and Due from Banks |
| $563 |
| $639 |
| $662 |
| $693 |
| $687 |
| $756 |
| $739 |
| $748 |
| $803 |
Trading Assets |
| 242 |
| 306 |
| 320 |
| 262 |
| 253 |
| 261 |
| 251 |
| 581 |
| 585 |
Short - Term Investments |
| 2,805 |
| 2,458 |
| 1,365 |
| 1,674 |
| 1,721 |
| 2,475 |
| 1,791 |
| 459 |
| 570 |
Investment Securities |
| 6,796 |
| 5,879 |
| 6,630 |
| 7,412 |
| 7,454 |
| 6,519 |
| 6,255 |
| 7,314 |
| 7,689 |
Loans and Leases: |
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|
|
|
|
|
|
|
Commercial Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans |
| 11,170 |
| 11,334 |
| 11,645 |
| 11,877 |
| 12,225 |
| 12,721 |
| 13,667 |
| 14,404 |
| 14,745 |
Commercial Lease Financing |
| 413 |
| 430 |
| 438 |
| 449 |
| 462 |
| 481 |
| 497 |
| 522 |
| 547 |
Total Commercial Loans and Leases |
| 11,583 |
| 11,764 |
| 12,083 |
| 12,326 |
| 12,687 |
| 13,202 |
| 14,164 |
| 14,926 |
| 15,292 |
Commercial Real Estate |
| 12,330 |
| 12,821 |
| 13,137 |
| 13,485 |
| 13,587 |
| 13,813 |
| 13,844 |
| 13,549 |
| 12,872 |
Residential Real Estate |
| 4,192 |
| 4,491 |
| 4,603 |
| 4,752 |
| 4,868 |
| 5,085 |
| 5,263 |
| 5,695 |
| 5,768 |
Construction and Development: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial |
| 1,698 |
| 2,044 |
| 2,576 |
| 2,974 |
| 3,251 |
| 3,527 |
| 3,782 |
| 4,188 |
| 4,820 |
Residential |
| 1,272 |
| 1,431 |
| 1,624 |
| 1,857 |
| 2,178 |
| 2,537 |
| 2,871 |
| 3,399 |
| 3,851 |
Total Construction and Development |
| 2,970 |
| 3,475 |
| 4,200 |
| 4,831 |
| 5,429 |
| 6,064 |
| 6,653 |
| 7,587 |
| 8,671 |
Consumer Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Equity Loans and Lines |
| 4,129 |
| 4,292 |
| 4,417 |
| 4,529 |
| 4,645 |
| 4,762 |
| 4,844 |
| 4,969 |
| 5,064 |
Personal Loans |
| 1,137 |
| 1,817 |
| 2,078 |
| 2,119 |
| 2,185 |
| 2,255 |
| 2,200 |
| 1,959 |
| 1,942 |
Personal Lease Financing |
| 69 |
| 84 |
| 100 |
| 115 |
| 133 |
| 150 |
| 169 |
| 190 |
| 207 |
Total Consumer Loans and Leases |
| 5,335 |
| 6,193 |
| 6,595 |
| 6,763 |
| 6,963 |
| 7,167 |
| 7,213 |
| 7,118 |
| 7,213 |
Total Loans and Leases |
| 36,410 |
| 38,744 |
| 40,618 |
| 42,157 |
| 43,534 |
| 45,331 |
| 47,137 |
| 48,875 |
| 49,816 |
Reserve for Loan and Lease Losses |
| (1,390) |
| (1,393) |
| (1,487) |
| (1,532) |
| (1,535) |
| (1,459) |
| (1,359) |
| (1,361) |
| (1,245) |
Premises and Equipment, net |
| 525 |
| 542 |
| 551 |
| 556 |
| 563 |
| 570 |
| 574 |
| 572 |
| 569 |
Goodwill and Other Intangibles |
| 722 |
| 727 |
| 732 |
| 737 |
| 741 |
| 749 |
| 755 |
| 757 |
| 761 |
Other Assets |
| 3,834 |
| 3,901 |
| 3,816 |
| 3,725 |
| 3,676 |
| 3,277 |
| 3,102 |
| 2,999 |
| 2,889 |
Total Assets |
| $50,507 |
| $51,803 |
| $53,207 |
| $55,684 |
| $57,094 |
| $58,479 |
| $59,245 |
| $60,944 |
| $62,437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Memo: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Earning Assets |
| $46,253 |
| $47,387 |
| $48,933 |
| $51,505 |
| $52,962 |
| $54,586 |
| $55,434 |
| $57,229 |
| $58,660 |
Average Earning Assets Excluding Investment Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized Gains / Losses |
| $46,347 |
| $47,346 |
| $48,828 |
| $51,465 |
| $52,957 |
| $54,548 |
| $55,426 |
| $57,190 |
| $58,719 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE LIABILITIES ($millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest Bearing |
| $8,255 |
| $8,121 |
| $7,582 |
| $7,925 |
| $7,819 |
| $7,998 |
| $7,862 |
| $7,355 |
| $6,482 |
Interest Bearing: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings and NOW |
| 4,106 |
| 4,980 |
| 5,088 |
| 6,910 |
| 7,227 |
| 6,468 |
| 5,575 |
| 4,175 |
| 3,530 |
Money Market |
| 16,269 |
| 15,656 |
| 14,521 |
| 12,685 |
| 11,936 |
| 10,721 |
| 10,293 |
| 10,207 |
| 10,631 |
Time |
| 9,083 |
| 9,606 |
| 11,641 |
| 13,440 |
| 14,680 |
| 16,082 |
| 17,234 |
| 17,652 |
| 17,901 |
Foreign |
| 154 |
| 196 |
| 208 |
| 214 |
| 248 |
| 302 |
| 372 |
| 469 |
| 1,123 |
Total Interest Bearing |
| 29,612 |
| 30,438 |
| 31,458 |
| 33,249 |
| 34,091 |
| 33,573 |
| 33,474 |
| 32,503 |
| 33,185 |
Total Deposits |
| 37,867 |
| 38,559 |
| 39,040 |
| 41,174 |
| 41,910 |
| 41,571 |
| 41,336 |
| 39,858 |
| 39,667 |
Short - Term Borrowings |
| 275 |
| 440 |
| 784 |
| 774 |
| 1,015 |
| 1,524 |
| 1,875 |
| 4,206 |
| 5,724 |
Long - Term Borrowings |
| 5,014 |
| 5,103 |
| 5,512 |
| 5,816 |
| 6,232 |
| 7,335 |
| 8,387 |
| 9,440 |
| 9,571 |
Other Liabilities |
| 966 |
| 1,129 |
| 1,107 |
| 1,020 |
| 928 |
| 1,031 |
| 994 |
| 1,041 |
| 1,122 |
Total Liabilities |
| 44,122 |
| 45,231 |
| 46,443 |
| 48,784 |
| 50,085 |
| 51,461 |
| 52,592 |
| 54,545 |
| 56,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE EQUITY ($millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marshall & Ilsley Corporation Shareholders' Equity |
| 6,374 |
| 6,561 |
| 6,753 |
| 6,889 |
| 6,998 |
| 7,007 |
| 6,642 |
| 6,388 |
| 6,343 |
Noncontrolling Interest in Subsidiaries |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 11 |
| 10 |
Total Equity |
| 6,385 |
| 6,572 |
| 6,764 |
| 6,900 |
| 7,009 |
| 7,018 |
| 6,653 |
| 6,399 |
| 6,353 |
Total Liabilities and Equity |
| $50,507 |
| $51,803 |
| $53,207 |
| $55,684 |
| $57,094 |
| $58,479 |
| $59,245 |
| $60,944 |
| $62,437 |
Memo: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Interest Bearing Liabilities |
| $34,901 |
| $35,981 |
| $37,754 |
| $39,839 |
| $41,338 |
| $42,432 |
| $43,736 |
| $46,149 |
| $48,480 |
3
Marshall & Ilsley Corporation
Quarterly Financial Information
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
|
|
| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
Construction and Development Loans - End of Period ($millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction and Development: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
| $817 |
| $1,179 |
| $1,394 |
| $1,988 |
| $2,305 |
| $2,414 |
| $2,737 |
| $2,885 |
| $3,791 |
|
Land |
| 625 |
| 692 |
| 712 |
| 725 |
| 829 |
| 843 |
| 867 |
| 905 |
| 852 |
|
Total Commercial |
| 1,442 |
| 1,871 |
| 2,106 |
| 2,713 |
| 3,134 |
| 3,257 |
| 3,604 |
| 3,790 |
| 4,643 |
|
Residential: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction by Individuals |
| 57 |
| 69 |
| 93 |
| 126 |
| 186 |
| 300 |
| 418 |
| 599 |
| 752 |
|
Land |
| 973 |
| 1,074 |
| 1,154 |
| 1,277 |
| 1,425 |
| 1,574 |
| 1,767 |
| 1,897 |
| 2,044 |
|
Construction by Developers |
| 167 |
| 188 |
| 264 |
| 303 |
| 361 |
| 408 |
| 525 |
| 543 |
| 812 |
|
Total Residential |
| 1,197 |
| 1,331 |
| 1,511 |
| 1,706 |
| 1,972 |
| 2,282 |
| 2,710 |
| 3,039 |
| 3,608 |
|
Total Construction and Development |
| $2,639 |
| $3,202 |
| $3,617 |
| $4,419 |
| $5,106 |
| $5,539 |
| $6,314 |
| $6,829 |
| $8,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
|
|
| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
Construction and Development Loans - Average ($millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction and Development: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction |
| $1,020 |
| $1,348 |
| $1,866 |
| $2,175 |
| $2,392 |
| $2,649 |
| $2,860 |
| $3,290 |
| $3,966 |
|
Land |
| 678 |
| 696 |
| 710 |
| 799 |
| 859 |
| 878 |
| 922 |
| 898 |
| 854 |
|
Total Commercial |
| 1,698 |
| 2,044 |
| 2,576 |
| 2,974 |
| 3,251 |
| 3,527 |
| 3,782 |
| 4,188 |
| 4,820 |
|
Residential: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction by Individuals |
| 63 |
| 78 |
| 107 |
| 151 |
| 254 |
| 358 |
| 500 |
| 690 |
| 834 |
|
Land |
| 1,027 |
| 1,119 |
| 1,228 |
| 1,363 |
| 1,526 |
| 1,705 |
| 1,851 |
| 2,016 |
| 2,094 |
|
Construction by Developers |
| 182 |
| 234 |
| 289 |
| 343 |
| 398 |
| 474 |
| 520 |
| 693 |
| 923 |
|
Total Residential |
| 1,272 |
| 1,431 |
| 1,624 |
| 1,857 |
| 2,178 |
| 2,537 |
| 2,871 |
| 3,399 |
| 3,851 |
|
Total Construction and Development |
| $2,970 |
| $3,475 |
| $4,200 |
| $4,831 |
| $5,429 |
| $6,064 |
| $6,653 |
| $7,587 |
| $8,671 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Definitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Construction - Loans primarily to mid-sized local and regional companies to construct a variety of commercial projects.
Commercial Land - Loans primarily to mid-sized local and regional companies to acquire and develop land for a variety of commercial projects.
Residential Construction by Individuals - Loans primarily to individuals to construct 1-4 family homes.
Residential Land - Loans primarily to individuals and mid-sized local and regional builders to acquire and develop land for 1-4 family homes.
Residential Construction by Developers - Loans primarily to mid-sized local and regional builders to construct 1-4 family homes in residential subdivisions.
|
4
Marshall & Ilsley Corporation
Quarterly Financial Information
|
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
|
|
| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
KEY RATIOS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Interest Margin (FTE) / Avg. Earning Assets |
| 3.08 | % | 3.15 | % | 3.14 | % | 3.17 | % | 3.13 | % | 2.95 | % | 2.82 | % | 2.79 | % | 2.82 | % |
Interest Spread (FTE) |
| 2.72 |
| 2.79 |
| 2.78 |
| 2.82 |
| 2.78 |
| 2.55 |
| 2.42 |
| 2.40 |
| 2.48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Efficiency Ratio |
| 61.4 |
| 69.4 |
| 73.8 |
| 67.2 |
| 58.0 |
| 67.0 |
| 65.4 |
| 71.1 |
| 58.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity / Assets (End of Period) (a) |
| 12.6 |
| 12.5 |
| 12.7 |
| 12.5 |
| 12.2 |
| 12.2 |
| 10.9 |
| 11.1 |
| 10.1 |
|
Tangible Common Equity / Tangible Assets (End of Period) |
| 7.9 |
| 7.9 |
| 8.3 |
| 8.3 |
| 8.1 |
| 8.2 |
| 7.0 |
| 7.2 |
| 6.4 |
|
Tangible Total Equity / Tangible Assets (End of Period) (a) |
| 11.4 |
| 11.3 |
| 11.5 |
| 11.4 |
| 11.1 |
| 11.1 |
| 9.9 |
| 10.0 |
| 9.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MARGIN ANALYSIS (b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans and Leases |
| 4.58 | % | 4.60 | % | 4.60 | % | 4.58 | % | 4.53 | % | 4.43 | % | 4.19 | % | 4.01 | % | 3.90 | % |
Commercial Real Estate |
| 4.83 |
| 4.92 |
| 4.91 |
| 4.94 |
| 5.02 |
| 5.07 |
| 5.02 |
| 5.11 |
| 5.26 |
|
Residential Real Estate |
| 4.83 |
| 4.75 |
| 4.87 |
| 5.05 |
| 5.15 |
| 5.15 |
| 5.22 |
| 5.25 |
| 5.58 |
|
Construction and Development |
| 4.13 |
| 4.17 |
| 3.96 |
| 3.94 |
| 3.74 |
| 3.62 |
| 3.62 |
| 3.63 |
| 3.72 |
|
Home Equity Loans and Lines |
| 4.95 |
| 4.93 |
| 4.97 |
| 5.01 |
| 4.98 |
| 5.01 |
| 5.00 |
| 5.06 |
| 5.19 |
|
Personal Loans and Leases |
| 5.67 |
| 5.43 |
| 5.41 |
| 5.48 |
| 5.50 |
| 5.41 |
| 5.44 |
| 5.64 |
| 5.54 |
|
Total Loans and Leases |
| 4.73 |
| 4.76 |
| 4.75 |
| 4.77 |
| 4.75 |
| 4.71 |
| 4.61 |
| 4.58 |
| 4.62 |
|
Investment Securities |
| 2.87 |
| 2.99 |
| 3.23 |
| 3.35 |
| 3.47 |
| 3.57 |
| 3.77 |
| 4.11 |
| 4.26 |
|
Short - Term Investments |
| 0.25 |
| 0.26 |
| 0.25 |
| 0.25 |
| 0.26 |
| 0.26 |
| 0.27 |
| 1.13 |
| 0.89 |
|
Interest Income (FTE) / Avg. Interest Earning Assets |
| 4.16 | % | 4.28 | % | 4.39 | % | 4.39 | % | 4.41 | % | 4.35 | % | 4.36 | % | 4.46 | % | 4.50 | % |
Interest Bearing Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings and NOW |
| 0.14 | % | 0.22 | % | 0.32 | % | 0.41 | % | 0.47 | % | 0.49 | % | 0.53 | % | 0.29 | % | 0.13 | % |
Money Market |
| 0.57 |
| 0.71 |
| 0.84 |
| 0.80 |
| 0.80 |
| 0.84 |
| 0.81 |
| 0.72 |
| 0.62 |
|
Time |
| 2.32 |
| 2.30 |
| 2.22 |
| 2.21 |
| 2.22 |
| 2.33 |
| 2.41 |
| 2.64 |
| 2.71 |
|
Foreign |
| 0.51 |
| 0.42 |
| 0.39 |
| 0.42 |
| 0.41 |
| 0.38 |
| 0.40 |
| 0.36 |
| 0.33 |
|
Total Interest Bearing Deposits |
| 1.05 |
| 1.13 |
| 1.26 |
| 1.29 |
| 1.34 |
| 1.48 |
| 1.58 |
| 1.71 |
| 1.69 |
|
Short - Term Borrowings |
| 0.21 |
| 1.47 |
| 1.83 |
| 0.21 |
| 0.27 |
| 0.29 |
| 0.33 |
| 0.27 |
| 0.28 |
|
Long - Term Borrowings |
| 3.78 |
| 3.63 |
| 3.58 |
| 3.41 |
| 3.44 |
| 3.55 |
| 3.75 |
| 4.06 |
| 4.24 |
|
Interest Expense / Avg. Interest Bearing Liabilities |
| 1.44 | % | 1.49 | % | 1.61 | % | 1.57 | % | 1.63 | % | 1.80 | % | 1.94 | % | 2.06 | % | 2.02 | % |
Net Interest Margin (FTE) / Avg. Earning Assets |
| 3.08 | % | 3.15 | % | 3.14 | % | 3.17 | % | 3.13 | % | 2.95 | % | 2.82 | % | 2.79 | % | 2.82 | % |
Interest Spread (FTE) |
| 2.72 | % | 2.79 | % | 2.78 | % | 2.82 | % | 2.78 | % | 2.55 | % | 2.42 | % | 2.40 | % | 2.48 | % |
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Notes:
(a) Includes preferred equity and noncontrolling interest in subsidiaries.
(b) Based on average balances excluding fair value adjustments for available for sale securities.
5
Marshall & Ilsley Corporation
Quarterly Financial Information
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| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
| December 31, |
| September 30, |
| June 30, |
| March 31, |
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| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
CREDIT QUALITY ($ millions) |
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Nonperforming Assets: |
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Nonaccrual Loans and Leases |
| $1,473.0 |
| $1,544.2 |
| $1,563.4 |
| $1,722.6 |
| $1,898.7 |
| $1,987.1 |
| $2,122.0 |
| $2,221.6 |
| $1,960.8 |
|
Nonaccrual Loans Held for Sale |
| 105.5 |
| 23.5 |
| 34.2 |
| 78.8 |
| 55.1 |
| 57.7 |
| 128.1 |
| 194.5 |
| 113.8 |
|
Total Nonperforming Loans and Leases |
| $1,578.5 |
| $1,567.7 |
| $1,597.6 |
| $1,801.4 |
| $1,953.8 |
| $2,044.8 |
| $2,250.1 |
| $2,416.1 |
| $2,074.6 |
|
Other Real Estate Owned (OREO) |
| 340.9 |
| 339.4 |
| 425.7 |
| 445.5 |
| 454.3 |
| 430.8 |
| 351.2 |
| 356.8 |
| 344.3 |
|
Total Nonperforming Assets |
| $1,919.4 |
| $1,907.1 |
| $2,023.3 |
| $2,246.9 |
| $2,408.1 |
| $2,475.6 |
| $2,601.3 |
| $2,772.9 |
| $2,418.9 |
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Accruing Renegotiated Loans |
| $514.9 |
| $548.4 |
| $547.9 |
| $714.6 |
| $731.8 |
| $793.5 |
| $935.3 |
| $818.5 |
| $446.0 |
|
Loans Past Due 90 Days or More |
| $6.5 |
| $6.1 |
| $7.4 |
| $8.1 |
| $9.3 |
| $8.8 |
| $13.1 |
| $15.1 |
| $16.1 |
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| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
|
|
| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
CREDIT QUALITY RATIOS |
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Net Charge-Offs / Average Loans and Leases |
| 4.82 | % | 4.40 | % | 5.47 | % | 4.17 | % | 3.94 | % | 5.01 | % | 4.48 | % | 4.95 | % | 2.67 | % |
Loan and Lease Loss Reserve / Period-End Loans and |
| 3.91 |
| 3.75 |
| 3.49 |
| 3.67 |
| 3.55 |
| 3.35 |
| 3.07 |
| 2.84 |
| 2.75 |
|
Nonperforming Assets / Period-End Loans and Leases and |
| 5.40 |
| 5.11 |
| 5.04 |
| 5.38 |
| 5.59 |
| 5.54 |
| 5.60 |
| 5.71 |
| 4.88 |
|
Nonperforming Loans and Leases / Period-End Loans and |
| 4.49 |
| 4.24 |
| 4.02 |
| 4.36 |
| 4.58 |
| 4.62 |
| 4.88 |
| 5.01 |
| 4.21 |
|
Loan and Lease Loss Reserve / Nonperforming Loans and | 93 |
| 90 |
| 89 |
| 88 |
| 80 |
| 75 |
| 67 |
| 62 |
| 69 |
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RECONCILIATION OF RESERVE FOR LOAN AND LEASE LOSSES (b) |
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($ millions) |
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Beginning Balance |
| $1,387.6 |
| $1,388.2 |
| $1,516.8 |
| $1,515.2 |
| $1,480.5 |
| $1,413.7 |
| $1,367.8 |
| $1,352.1 |
| $1,202.2 |
|
Provision for Loan and Lease Losses |
| 418.8 |
| 429.1 |
| 431.7 |
| 439.9 |
| 458.1 |
| 639.0 |
| 578.7 |
| 619.0 |
| 477.9 |
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Loans and Leases Charged Off: |
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Commercial |
| 109.4 |
| 78.8 |
| 59.9 |
| 54.9 |
| 137.1 |
| 99.3 |
| 206.3 |
| 68.7 |
| 62.3 |
|
Real Estate |
| 352.6 |
| 369.8 |
| 510.2 |
| 385.0 |
| 287.3 |
| 468.4 |
| 323.2 |
| 534.3 |
| 265.0 |
|
Personal |
| 8.4 |
| 12.7 |
| 10.9 |
| 15.3 |
| 11.6 |
| 29.0 |
| 11.3 |
| 9.1 |
| 10.6 |
|
Leases |
| 0.5 |
| 0.6 |
| 0.4 |
| 0.6 |
| 0.4 |
| 1.5 |
| 0.8 |
| 1.0 |
| 2.3 |
|
Total Charge-Offs |
| 470.9 |
| 461.9 |
| 581.4 |
| 455.8 |
| 436.4 |
| 598.2 |
| 541.6 |
| 613.1 |
| 340.2 |
|
Recoveries on Loans and Leases: |
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Commercial |
| 6.3 |
| 8.2 |
| 3.9 |
| 5.8 |
| 2.8 |
| 14.1 |
| 1.3 |
| 2.5 |
| 1.9 |
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Real Estate |
| 30.0 |
| 21.9 |
| 15.1 |
| 9.3 |
| 7.7 |
| 9.7 |
| 5.9 |
| 5.7 |
| 7.4 |
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Personal |
| 2.0 |
| 1.9 |
| 2.1 |
| 2.0 |
| 2.1 |
| 1.7 |
| 1.6 |
| 1.3 |
| 1.3 |
|
Leases |
| 0.3 |
| 0.2 |
| 0.0 |
| 0.4 |
| 0.4 |
| 0.4 |
| 0.1 |
| 0.3 |
| 1.6 |
|
Total Recoveries |
| 38.6 |
| 32.2 |
| 21.1 |
| 17.5 |
| 13.0 |
| 25.9 |
| 8.9 |
| 9.8 |
| 12.2 |
|
Net Loan and Lease Charge-offs |
| 432.3 |
| 429.7 |
| 560.3 |
| 438.3 |
| 423.4 |
| 572.3 |
| 532.7 |
| 603.3 |
| 328.0 |
|
Ending Balance |
| $1,374.1 |
| $1,387.6 |
| $1,388.2 |
| $1,516.8 |
| $1,515.2 |
| $1,480.5 |
| $1,413.7 |
| $1,367.8 |
| $1,352.1 |
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Notes: |
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(a) Excludes nonaccrual loans held for sale. |
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(b) May not add due to rounding. |
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6
Marshall & Ilsley Corporation
Quarterly Financial Information
|
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
| 4th Qtr. |
| 3rd Qtr. |
| 2nd Qtr. |
| 1st Qtr. |
|
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| 2011 |
| 2010 |
| 2010 |
| 2010 |
| 2010 |
| 2009 |
| 2009 |
| 2009 |
| 2009 |
|
SELECTED SEGMENTS ($millions) |
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Commercial Banking |
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Net Interest Income |
| $213.3 |
| $224.3 |
| $219.9 |
| $231.1 |
| $230.6 |
| $238.5 |
| $234.1 |
| $214.6 |
| $199.6 |
|
Provision for Loan and Lease Losses |
| 227.0 |
| 238.0 |
| 386.8 |
| 236.2 |
| 223.5 |
| 291.7 |
| 304.2 |
| 193.4 |
| 154.4 |
|
Net Interest Income / (Loss) after Provision for Loan and |
| (13.7) |
| (13.7) |
| (166.9) |
| (5.1) |
| 7.1 |
| (53.2) |
| (70.1) |
| 21.2 |
| 45.2 |
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Other Income |
| 23.7 |
| 27.7 |
| 16.2 |
| 19.4 |
| 21.9 |
| 16.7 |
| 9.5 |
| 14.2 |
| 25.7 |
|
Goodwill Impairment |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
|
All Other Expense |
| 55.3 |
| 71.5 |
| 67.6 |
| 75.9 |
| 63.0 |
| 69.1 |
| 75.3 |
| 69.0 |
| 56.6 |
|
Income (Loss) Before Income Taxes |
| (45.3) |
| (57.5) |
| (218.3) |
| (61.6) |
| (34.0) |
| (105.6) |
| (135.9) |
| (33.6) |
| 14.3 |
|
Income Tax Expense (Benefit) |
| (18.1) |
| (23.0) |
| (87.3) |
| (24.7) |
| (13.6) |
| (42.2) |
| (54.3) |
| (13.5) |
| 5.7 |
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Segment Income (Loss) |
| ($27.2) |
| ($34.5) |
| ($131.0) |
| ($36.9) |
| ($20.4) |
| ($63.4) |
| ($81.6) |
| ($20.1) |
| $8.6 |
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Identifiable Assets |
| $18,633.0 |
| $19,219.7 |
| $20,361.7 |
| $21,405.7 |
| $22,110.6 |
| $22,855.8 |
| $23,764.4 |
| $24,944.8 |
| $25,478.6 |
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Community Banking |
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Net Interest Income |
| $195.3 |
| $199.7 |
| $199.7 |
| $195.0 |
| $186.2 |
| $186.4 |
| $181.4 |
| $166.1 |
| $173.4 |
|
Provision for Loan and Lease Losses |
| 130.2 |
| 141.3 |
| 121.0 |
| 139.3 |
| 133.0 |
| 200.2 |
| 158.7 |
| 316.9 |
| 133.5 |
|
Net Interest Income / (Loss) after Provision for Loan and |
| 65.1 |
| 58.4 |
| 78.7 |
| 55.7 |
| 53.2 |
| (13.8) |
| 22.7 |
| (150.8) |
| 39.9 |
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Other Income |
| 45.9 |
| 49.3 |
| 44.4 |
| 45.3 |
| 86.6 |
| 45.2 |
| 47.8 |
| 54.3 |
| 46.8 |
|
Goodwill Impairment |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
|
All Other Expense |
| 169.5 |
| 203.8 |
| 187.1 |
| 182.7 |
| 180.3 |
| 208.3 |
| 209.4 |
| 209.9 |
| 177.8 |
|
Income (Loss) Before Income Taxes |
| (58.5) |
| (96.1) |
| (64.0) |
| (81.7) |
| (40.5) |
| (176.9) |
| (138.9) |
| (306.4) |
| (91.1) |
|
Income Tax Expense (Benefit) |
| (23.4) |
| (38.4) |
| (25.6) |
| (32.7) |
| (16.2) |
| (70.8) |
| (55.6) |
| (122.6) |
| (36.4) |
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Segment Income (Loss) |
| ($35.1) |
| ($57.7) |
| ($38.4) |
| ($49.0) |
| ($24.3) |
| ($106.1) |
| ($83.3) |
| ($183.8) |
| ($54.7) |
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Identifiable Assets |
| $12,917.9 |
| $14,148.4 |
| $14,760.9 |
| $15,132.0 |
| $15,549.2 |
| $16,244.5 |
| $16,855.2 |
| $17,799.8 |
| $18,322.9 |
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Wealth Management |
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Net Interest Income |
| $17.3 |
| $17.4 |
| $17.0 |
| $18.3 |
| $17.7 |
| $18.4 |
| $18.4 |
| $14.8 |
| $15.0 |
|
Provision for Loan and Lease Losses |
| 10.4 |
| 9.9 |
| 8.5 |
| 10.5 |
| 12.3 |
| 12.2 |
| 14.0 |
| 6.5 |
| 10.0 |
|
Net Interest Income after Provision for Loan and |
| 6.9 |
| 7.5 |
| 8.5 |
| 7.8 |
| 5.4 |
| 6.2 |
| 4.4 |
| 8.3 |
| 5.0 |
|
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Other Income |
| 75.5 |
| 75.1 |
| 73.4 |
| 71.5 |
| 69.8 |
| 71.6 |
| 68.6 |
| 68.5 |
| 64.9 |
|
Other Expense |
| 68.2 |
| 70.2 |
| 70.1 |
| 70.8 |
| 63.2 |
| 67.4 |
| 66.7 |
| 68.9 |
| 56.6 |
|
Income (Loss) Before Income Taxes |
| 14.2 |
| 12.4 |
| 11.8 |
| 8.5 |
| 12.0 |
| 10.4 |
| 6.3 |
| 7.9 |
| 13.3 |
|
Income Tax Expense (Benefit) |
| 5.2 |
| 4.9 |
| 4.6 |
| 3.4 |
| 4.9 |
| 4.0 |
| 2.4 |
| 3.1 |
| 5.7 |
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|
Segment Income (Loss) |
| $9.0 |
| $7.5 |
| $7.2 |
| $5.1 |
| $7.1 |
| $6.4 |
| $3.9 |
| $4.8 |
| $7.6 |
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Identifiable Assets |
| $1,380.3 |
| $1,461.8 |
| $1,517.8 |
| $1,537.2 |
| $1,593.8 |
| $1,642.6 |
| $1,704.9 |
| $1,690.6 |
| $1,676.2 |
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Treasury |
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Net Interest Income |
| ($110.2) |
| ($110.1) |
| ($96.0) |
| ($85.7) |
| ($74.2) |
| ($86.3) |
| ($82.6) |
| ($33.5) |
| ($14.6) |
|
Provision for Loan and Lease Losses |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
|
Net Interest Income after Provision for Loan and |
| (110.2) |
| (110.1) |
| (96.0) |
| (85.7) |
| (74.2) |
| (86.3) |
| (82.6) |
| (33.5) |
| (14.6) |
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Other Income |
| 10.8 |
| 60.2 |
| 51.7 |
| 14.8 |
| 21.0 |
| 83.2 |
| 69.6 |
| 59.4 |
| 11.9 |
|
Other Expense |
| 6.6 |
| 17.0 |
| 38.0 |
| 13.4 |
| 17.6 |
| 13.6 |
| 10.5 |
| 18.2 |
| 10.9 |
|
Income (Loss) Before Income Taxes |
| (106.0) |
| (66.9) |
| (82.3) |
| (84.3) |
| (70.8) |
| (16.7) |
| (23.5) |
| 7.7 |
| (13.6) |
|
Income Tax Expense (Benefit) |
| (42.4) |
| (26.7) |
| (32.9) |
| (33.7) |
| (28.3) |
| (6.7) |
| (9.4) |
| 3.1 |
| (5.4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Income (Loss) |
| ($63.6) |
| ($40.2) |
| ($49.4) |
| ($50.6) |
| ($42.5) |
| ($10.0) |
| ($14.1) |
| $4.6 |
| ($8.2) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Identifiable Assets |
| $10,981.8 |
| $10,309.0 |
| $8,340.6 |
| $9,062.7 |
| $10,324.0 |
| $9,165.1 |
| $8,804.6 |
| $7,240.5 |
| $8,866.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7
Marshall & Ilsley Corporation
Annual Financial Information
|
| YEARS ENDED DECEMBER 31, | ||||||||
|
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
PER COMMON SHARE DATA |
|
|
|
|
|
|
|
|
|
|
Diluted: |
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Continuing Operations |
| ($1.18) |
| ($2.46) |
| ($7.92) |
| $1.87 |
| $2.54 |
Net Income (Loss) |
| (1.18) |
| (2.46) |
| (7.92) |
| 4.34 |
| 3.17 |
|
|
|
|
|
|
|
|
|
|
|
Basic: |
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Continuing Operations |
| (1.18) |
| (2.46) |
| (7.92) |
| 1.91 |
| 2.60 |
Net Income (Loss) |
| (1.18) |
| (2.46) |
| (7.92) |
| 4.42 |
| 3.24 |
|
|
|
|
|
|
|
|
|
|
|
Dividend Declared per Common Share |
| 0.04 |
| 0.04 |
| 1.27 |
| 1.20 |
| 1.05 |
Book Value per Common Share |
| 8.89 |
| 10.21 |
| 17.58 |
| 26.86 |
| 24.24 |
|
|
|
|
|
|
|
|
|
|
|
Common Shares Outstanding (millions): |
|
|
|
|
|
|
|
|
|
|
Average - Diluted |
| 524.6 |
| 348.5 |
| 259.6 |
| 265.5 |
| 254.6 |
End of Period |
| 528.7 |
| 525.4 |
| 265.3 |
| 263.5 |
| 255.5 |
|
|
|
|
|
|
|
|
|
|
|
INCOME STATEMENT ($millions) |
|
|
|
|
|
|
|
|
|
|
Net Interest Income (FTE) |
| $1,579.5 |
| $1,608.0 |
| $1,808.6 |
| $1,644.4 |
| $1,537.6 |
Provision for Loan and Lease Losses |
| 1,758.9 |
| 2,314.6 |
| 2,037.7 |
| 319.8 |
| 50.6 |
Non-Interest Revenues: |
|
|
|
|
|
|
|
|
|
|
Wealth Management |
| 280.4 |
| 265.1 |
| 282.2 |
| 262.8 |
| 221.6 |
Service Charges on Deposits |
| 127.5 |
| 136.6 |
| 146.2 |
| 120.6 |
| 106.7 |
Mortgage Banking |
| 37.6 |
| 48.3 |
| 26.0 |
| 34.1 |
| 52.4 |
Net Investment Securities Gains |
| 99.8 |
| 121.8 |
| 17.2 |
| 34.8 |
| 9.7 |
Derivative Loss - Discontinued Hedges |
| - |
| - |
| - |
| - |
| (18.4) |
Bank-Owned Life Insurance Revenue |
| 46.6 |
| 39.0 |
| 35.9 |
| 37.7 |
| 29.1 |
Other |
| 283.1 |
| 292.2 |
| 232.9 |
| 237.6 |
| 179.0 |
Total Non-Interest Revenues |
| 875.0 |
| 903.0 |
| 740.4 |
| 727.6 |
| 580.1 |
Non-Interest Expenses: |
|
|
|
|
|
|
|
|
|
|
Salaries and Employee Benefits |
| 713.7 |
| 690.8 |
| 723.2 |
| 659.9 |
| 613.4 |
Net Occupancy and Equipment |
| 133.6 |
| 135.7 |
| 126.9 |
| 112.0 |
| 104.0 |
Software Expenses |
| 33.4 |
| 28.0 |
| 24.7 |
| 21.1 |
| 18.0 |
Processing Charges |
| 126.5 |
| 133.0 |
| 132.0 |
| 135.1 |
| 124.2 |
Supplies, Printing, Postage and Delivery |
| 32.7 |
| 35.2 |
| 42.1 |
| 42.5 |
| 41.4 |
FDIC Insurance |
| 99.4 |
| 107.9 |
| 17.3 |
| 4.0 |
| 3.7 |
Professional Services |
| 116.4 |
| 91.4 |
| 72.0 |
| 42.4 |
| 34.1 |
Intangible Amortization |
| 20.2 |
| 23.4 |
| 24.3 |
| 20.6 |
| 18.6 |
Goodwill Impairment |
| - |
| - |
| 1,535.1 |
| - |
| - |
Other |
| 298.4 |
| 321.4 |
| 288.8 |
| 275.8 |
| 124.5 |
Total Non-Interest Expenses |
| 1,574.3 |
| 1,566.8 |
| 2,986.4 |
| 1,313.4 |
| 1,081.9 |
Tax Equivalent Adjustment |
| 22.2 |
| 25.4 |
| 27.9 |
| 28.2 |
| 30.1 |
Pre-Tax Income (Loss) |
| (900.9) |
| (1,395.8) |
| (2,503.0) |
| 710.6 |
| 955.1 |
Provision (Benefit) for Income Taxes |
| (385.0) |
| (637.2) |
| (459.5) |
| 213.7 |
| 307.4 |
Income (Loss) from Continuing Operations | (515.9) |
| (758.6) |
| (2,043.5) |
| 496.9 |
| 647.7 | |
Discontinued Operations, Net of Tax: |
|
|
|
|
|
|
|
|
|
|
Separation Transaction Costs |
| - |
| - |
| - |
| (25.3) |
| - |
Gain on Sale of Metavante |
| - |
| - |
| - |
| 525.6 |
| - |
Metavante Net Income |
| - |
| - |
| - |
| 153.7 |
| 160.1 |
Income from Discontinued Operations, Net of Tax |
| - |
| - |
| - |
| 654.0 |
| 160.1 |
Net Income (Loss) Attributable to M&I |
| ($515.9) |
| ($758.6) |
| ($2,043.5) |
| $1,150.9 |
| $807.8 |
Preferred Dividends |
| (101.0) |
| (100.2) |
| (12.7) |
| - |
| - |
Net Income (Loss) Attributable to M&I Common Shareholders |
| ($616.9) |
| ($858.8) |
| ($2,056.2) |
| $1,150.9 |
| $807.8 |
|
|
|
|
|
|
|
|
|
|
|
8
Marshall & Ilsley Corporation
Annual Financial Information
|
| DECEMBER 31, | |||||||||
|
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
|
ASSETS - END OF PERIOD ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Cash and Due From Banks |
| $511 |
| $769 |
| $851 |
| $1,369 |
| $1,202 |
|
Trading Assets |
| 258 |
| 256 |
| 518 |
| 125 |
| 36 |
|
Short - Term Investments |
| 2,464 |
| 1,192 |
| 231 |
| 462 |
| 253 |
|
Investment Securities |
| 6,957 |
| 7,177 |
| 7,668 |
| 7,818 |
| 7,405 |
|
Loan to Metavante |
| - |
| - |
| - |
| - |
| 982 |
|
Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans |
| 11,197 |
| 12,476 |
| 14,880 |
| 13,794 |
| 12,048 |
|
Commercial Lease Financing |
| 426 |
| 474 |
| 562 |
| 533 |
| 539 |
|
Total Commercial Loans and Leases |
| 11,623 |
| 12,950 |
| 15,442 |
| 14,327 |
| 12,587 |
|
Commercial Real Estate |
| 12,401 |
| 13,646 |
| 12,542 |
| 11,096 |
| 10,236 |
|
Residential Real Estate |
| 4,341 |
| 4,969 |
| 5,734 |
| 4,592 |
| 4,000 |
|
Construction and Development: |
|
|
|
|
|
|
|
|
|
|
|
Commercial |
| 1,871 |
| 3,257 |
| 5,063 |
| 4,958 |
| 4,115 |
|
Residential |
| 1,331 |
| 2,282 |
| 3,980 |
| 5,153 |
| 5,032 |
|
Total Construction and Development |
| 3,202 |
| 5,539 |
| 9,043 |
| 10,111 |
| 9,147 |
|
Consumer Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Home Equity Loans and Lines |
| 4,213 |
| 4,715 |
| 5,082 |
| 4,413 |
| 4,342 |
|
Personal Loans |
| 1,142 |
| 2,258 |
| 1,929 |
| 1,560 |
| 1,458 |
|
Personal Lease Financing |
| 77 |
| 141 |
| 213 |
| 197 |
| 165 |
|
Total Consumer Loans and Leases |
| 5,432 |
| 7,114 |
| 7,224 |
| 6,170 |
| 5,965 |
|
Total Loans and Leases |
| 36,999 |
| 44,218 |
| 49,985 |
| 46,296 |
| 41,935 |
|
Reserve for Loan and Lease Losses |
| (1,388) |
| (1,481) |
| (1,202) |
| (496) |
| (421) |
|
Premises and Equipment, net |
| 528 |
| 566 |
| 565 |
| 470 |
| 436 |
|
Goodwill and Other Intangibles |
| 724 |
| 744 |
| 763 |
| 1,808 |
| 1,573 |
|
Other Assets |
| 3,779 |
| 3,769 |
| 2,957 |
| 1,997 |
| 1,511 |
|
Total Assets of Continuing Operations |
| 50,832 |
| 57,210 |
| 62,336 |
| 59,849 |
| 54,912 |
|
Assets of Discontinued Operations |
| - |
| - |
| - |
| - |
| 1,318 |
|
Total Assets |
| $50,832 |
| $57,210 |
| $62,336 |
| $59,849 |
| $56,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES - END OF PERIOD ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
Noninterest Bearing |
| $8,079 |
| $7,833 |
| $6,880 |
| $6,174 |
| $6,144 |
|
Interest Bearing: |
|
|
|
|
|
|
|
|
|
|
|
Savings and NOW |
| 4,922 |
| 6,938 |
| 3,454 |
| 3,062 |
| 3,024 |
|
Money Market |
| 15,898 |
| 11,315 |
| 10,753 |
| 10,841 |
| 9,057 |
|
Time |
| 9,197 |
| 15,306 |
| 18,072 |
| 12,507 |
| 12,822 |
|
Foreign |
| 163 |
| 246 |
| 1,864 |
| 2,607 |
| 3,580 |
|
Total Interest Bearing Deposits |
| 30,180 |
| 33,805 |
| 34,143 |
| 29,017 |
| 28,483 |
|
Total Deposits |
| 38,259 |
| 41,638 |
| 41,023 |
| 35,191 |
| 34,627 |
|
Short - Term Borrowings |
| 228 |
| 1,120 |
| 4,058 |
| 6,811 |
| 3,609 |
|
Long - Term Borrowings |
| 5,029 |
| 6,426 |
| 9,614 |
| 9,873 |
| 10,842 |
|
Other Liabilities |
| 977 |
| 1,040 |
| 1,370 |
| 931 |
| 889 |
|
Liabilities of Discontinued Operations |
| - |
| - |
| - |
| - |
| 43 |
|
Total Liabilities |
| 44,493 |
| 50,224 |
| 56,065 |
| 52,806 |
| 50,010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY - END OF PERIOD ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Preferred Equity |
| 1,665 |
| 1,650 |
| 1,636 |
| - |
| - |
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Equity |
| 4,770 |
| 5,376 |
| 4,782 |
| 7,086 |
| 6,168 |
|
Accumulated Other Comprehensive Income: |
|
|
|
|
|
|
|
|
|
|
|
Unrealized Gains (Losses) on Securities |
| (66) |
| (13) |
| (57) |
| (10) |
| (22) |
|
Unrealized Gains (Losses) on Derivatives |
| (42) |
| (44) |
| (103) |
| (47) |
| - |
|
Postretirement Benefits - Funded Status |
| 1 |
| 6 |
| 2 |
| 4 |
| 5 |
|
Total Accumulated Other Comprehensive Income |
| (107) |
| (51) |
| (158) |
| (53) |
| (17) |
|
Total Common Equity |
| 4,663 |
| 5,325 |
| 4,624 |
| 7,033 |
| 6,151 |
|
Marshall & Ilsley Corporation Shareholders' Equity |
| 6,328 |
| 6,975 |
| 6,260 |
| 7,033 |
| 6,151 |
|
Noncontrolling Interest in Subsidiaries |
| 11 |
| 11 |
| 11 |
| 10 |
| 69 |
|
Total Equity |
| 6,339 |
| 6,986 |
| 6,271 |
| 7,043 |
| 6,220 |
|
Total Liabilities and Equity |
| $50,832 |
| $57,210 |
| $62,336 |
| $59,849 |
| $56,230 |
|
9
Marshall & Ilsley Corporation
Annual Financial Information
|
| YEARS ENDED DECEMBER 31, | |||||||||
|
| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
|
AVERAGE ASSETS ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Cash and Due From Banks |
| $670 |
| $761 |
| $898 |
| $1,005 |
| $974 |
|
Trading Assets |
| 286 |
| 418 |
| 197 |
| 57 |
| 46 |
|
Short - Term Investments |
| 1,805 |
| 1,330 |
| 427 |
| 352 |
| 297 |
|
Investment Securities |
| 6,839 |
| 6,939 |
| 7,612 |
| 7,496 |
| 6,968 |
|
Loan to Metavante |
| - |
| - |
| - |
| 818 |
| 982 |
|
Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Commercial Loans |
| 11,767 |
| 13,878 |
| 14,841 |
| 12,672 |
| 11,175 |
|
Commercial Lease Financing |
| 445 |
| 512 |
| 521 |
| 515 |
| 516 |
|
Total Commercial Loans and Leases |
| 12,212 |
| 14,390 |
| 15,362 |
| 13,187 |
| 11,691 |
|
Commercial Real Estate |
| 13,255 |
| 13,523 |
| 11,840 |
| 10,564 |
| 9,726 |
|
Residential Real Estate |
| 4,677 |
| 5,450 |
| 5,504 |
| 4,214 |
| 3,676 |
|
Construction and Development: |
|
|
|
|
|
|
|
|
|
|
|
Commercial |
| 2,707 |
| 4,075 |
| 5,442 |
| 4,558 |
| 3,413 |
|
Residential |
| 1,770 |
| 3,160 |
| 4,723 |
| 5,252 |
| 4,454 |
|
Total Construction and Development |
| 4,477 |
| 7,235 |
| 10,165 |
| 9,810 |
| 7,867 |
|
Consumer Loans and Leases: |
|
|
|
|
|
|
|
|
|
|
|
Home Equity Loans and Lines |
| 4,470 |
| 4,909 |
| 4,902 |
| 4,277 |
| 4,540 |
|
Personal Loans |
| 2,049 |
| 2,090 |
| 1,732 |
| 1,417 |
| 1,479 |
|
Personal Lease Financing |
| 108 |
| 179 |
| 202 |
| 181 |
| 145 |
|
Total Consumer Loans and Leases |
| 6,627 |
| 7,178 |
| 6,836 |
| 5,875 |
| 6,164 |
|
Total Loans and Leases |
| 41,248 |
| 47,776 |
| 49,707 |
| 43,650 |
| 39,124 |
|
Reserve for Loan and Lease Losses |
| (1,487) |
| (1,357) |
| (878) |
| (448) |
| (406) |
|
Premises and Equipment, net |
| 553 |
| 571 |
| 529 |
| 459 |
| 415 |
|
Goodwill and Other Intangibles |
| 734 |
| 755 |
| 2,240 |
| 1,739 |
| 1,410 |
|
Other Assets |
| 3,781 |
| 3,070 |
| 2,398 |
| 1,816 |
| 1,518 |
|
Total Assets of Continuing Operations |
| 54,429 |
| 60,263 |
| 63,130 |
| 56,944 |
| 51,328 |
|
Assets of Discontinued Operations |
| - |
| - |
| - |
| 1,266 |
| 1,323 |
|
Total Assets |
| $54,429 |
| $60,263 |
| $63,130 |
| $58,210 |
| $52,651 |
|
Memo: |
|
|
|
|
|
|
|
|
|
|
|
Average Earning Assets |
| $50,178 |
| $56,463 |
| $57,943 |
| $52,373 |
| $47,417 |
|
Average Earning Assets Excluding Investment Securities |
|
|
|
|
|
|
|
|
|
|
|
Unrealized Gains / Losses |
| $50,130 |
| $56,456 |
| $57,985 |
| $52,422 |
| $47,503 |
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE LIABILITIES ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Deposits: |
|
|
|
|
|
|
|
|
|
|
|
Noninterest Bearing |
| $7,862 |
| $7,429 |
| $5,858 |
| $5,470 |
| $5,361 |
|
Interest Bearing: |
|
|
|
|
|
|
|
|
|
|
|
Savings and NOW |
| 6,042 |
| 4,947 |
| 3,249 |
| 2,905 |
| 3,031 |
|
Money Market |
| 13,712 |
| 10,463 |
| 11,016 |
| 10,473 |
| 8,297 |
|
Time |
| 12,326 |
| 17,212 |
| 16,392 |
| 12,293 |
| 12,603 |
|
Foreign |
| 217 |
| 564 |
| 2,760 |
| 2,928 |
| 2,844 |
|
Total Interest Bearing Deposits |
| 32,297 |
| 33,186 |
| 33,417 |
| 28,599 |
| 26,775 |
|
Total Deposits |
| 40,159 |
| 40,615 |
| 39,275 |
| 34,069 |
| 32,136 |
|
Short - Term Borrowings |
| 752 |
| 3,317 |
| 6,163 |
| 4,694 |
| 3,638 |
|
Long - Term Borrowings |
| 5,662 |
| 8,676 |
| 9,749 |
| 11,534 |
| 10,071 |
|
Other Liabilities |
| 1,046 |
| 1,047 |
| 981 |
| 1,042 |
| 976 |
|
Liabilities of Discontinued Operations |
| - |
| - |
| - |
| 149 |
| 163 |
|
Total Liabilities |
| 47,619 |
| 53,655 |
| 56,168 |
| 51,488 |
| 46,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE EQUITY ($millions) |
|
|
|
|
|
|
|
|
|
|
|
Marshall & Ilsley Corporation Shareholders' Equity |
| 6,799 |
| 6,597 |
| 6,952 |
| 6,680 |
| 5,601 |
|
Noncontrolling Interest in Subsidiaries |
| 11 |
| 11 |
| 10 |
| 42 |
| 66 |
|
Total Equity |
| 6,810 |
| 6,608 |
| 6,962 |
| 6,722 |
| 5,667 |
|
Total Liabilities and Equity |
| $54,429 |
| $60,263 |
| $63,130 |
| $58,210 |
| $52,651 |
|
Memo: |
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Average Interest Bearing Liabilities |
| $38,711 |
| $45,179 |
| $49,329 |
| $44,827 |
| $40,484 |
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10
Marshall & Ilsley Corporation
Annual Financial Information
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| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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KEY RATIOS |
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Net Interest Margin (FTE) / Avg. Earning Assets |
| 3.15 | % | 2.85 | % | 3.12 | % | 3.14 | % | 3.24 | % |
Interest Spread (FTE) |
| 2.79 |
| 2.46 |
| 2.67 |
| 2.47 |
| 2.60 |
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Efficiency Ratio |
| 66.9 |
| 65.6 |
| n.m. |
| 56.2 |
| 51.3 |
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Equity / Assets (End of Period) (a) |
| 12.5 |
| 12.2 |
| 10.1 |
| 11.8 |
| 11.0 |
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MARGIN ANALYSIS (b) |
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Loans and Leases: |
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Commercial Loans and Leases |
| 4.58 | % | 4.12 | % | 5.56 | % | 7.52 | % | 7.38 | % |
Commercial Real Estate |
| 4.95 |
| 5.11 |
| 6.34 |
| 7.31 |
| 7.15 |
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Residential Real Estate |
| 4.96 |
| 5.30 |
| 6.00 |
| 6.30 |
| 5.99 |
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Construction and Development |
| 3.93 |
| 3.65 |
| 5.54 |
| 7.87 |
| 8.02 |
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Home Equity Loans and Lines |
| 4.97 |
| 5.06 |
| 6.28 |
| 7.48 |
| 7.28 |
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Personal Loans and Leases |
| 5.45 |
| 5.50 |
| 6.38 |
| 7.72 |
| 7.24 |
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Total Loans and Leases |
| 4.76 |
| 4.63 |
| 5.89 |
| 7.43 |
| 7.30 |
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Loan to Metavante |
| - |
| - |
| - |
| 4.40 |
| 4.40 |
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Investment Securities |
| 3.28 |
| 3.95 |
| 4.77 |
| 5.27 |
| 5.21 |
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Short - Term Investments |
| 0.26 |
| 0.49 |
| 1.92 |
| 4.67 |
| 4.47 |
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Interest Income (FTE) / Avg. Interest Earning Assets |
| 4.37 | % | 4.42 | % | 5.70 | % | 7.05 | % | 6.91 | % |
Interest Bearing Deposits: |
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Savings and NOW |
| 0.37 | % | 0.40 | % | 0.57 | % | 1.28 | % | 1.24 | % |
Money Market |
| 0.78 |
| 0.75 |
| 1.92 |
| 4.23 |
| 4.04 |
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Time |
| 2.23 |
| 2.53 |
| 3.80 |
| 4.94 |
| 4.54 |
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Foreign |
| 0.41 |
| 0.36 |
| 1.81 |
| 4.92 |
| 4.88 |
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Total Interest Bearing Deposits |
| 1.26 |
| 1.61 |
| 2.70 |
| 4.31 |
| 4.05 |
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Short - Term Borrowings |
| 0.84 |
| 0.29 |
| 2.27 |
| 5.04 |
| 5.13 |
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Long - Term Borrowings |
| 3.51 |
| 3.92 |
| 4.66 |
| 5.07 |
| 4.73 |
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Interest Expense / Avg. Interest Bearing Liabilities |
| 1.58 | % | 1.96 | % | 3.03 | % | 4.58 | % | 4.31 | % |
Net Interest Margin (FTE) / Avg. Earning Assets |
| 3.15 | % | 2.85 | % | 3.12 | % | 3.14 | % | 3.24 | % |
Interest Spread (FTE) |
| 2.79 | % | 2.46 | % | 2.67 | % | 2.47 | % | 2.60 | % |
Notes:
(a) Includes preferred equity and noncontrolling interest in subsidiaries.
(b) Based on average balances excluding fair value adjustments for available for sale securities.
11
Marshall & Ilsley Corporation
Annual Financial Information
|
| DECEMBER 31, | |||||||||
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| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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CREDIT QUALITY ($millions) |
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Nonperforming Assets: |
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Nonaccrual Loans and Leases |
| $1,544.2 |
| $1,987.1 |
| $1,457.8 |
| $686.9 |
| $264.9 |
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Nonaccrual Loans Held for Sale |
| 23.5 |
| 57.7 |
| 69.2 |
| - |
| - |
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Total Nonperforming Loans and Leases |
| $1,567.7 |
| $2,044.8 |
| $1,527.0 |
| $686.9 |
| $264.9 |
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Other Real Estate Owned (OREO) |
| 339.4 |
| 430.8 |
| 320.9 |
| 115.1 |
| 25.5 |
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Total Nonperforming Assets |
| $1,907.1 |
| $2,475.6 |
| $1,847.9 |
| $802.0 |
| $290.4 |
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Accruing Renegotiated Loans |
| $548.4 |
| $793.5 |
| $270.3 |
| $224.4 |
| $0.1 |
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Loans Past Due 90 Days or More |
| $6.1 |
| $8.8 |
| $14.5 |
| $13.9 |
| $3.0 |
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| 2010 |
| 2009 |
| 2008 |
| 2007 |
| 2006 |
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CREDIT QUALITY RATIOS |
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Net Charge-Offs / Average Loans and Leases |
| 4.49 | % | 4.26 | % | 2.74 | % | 0.59 | % | 0.10 | % |
Loan and Lease Loss Reserve / Period-End Loans and Leases |
| 3.75 |
| 3.35 |
| 2.41 |
| 1.07 |
| 1.00 |
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Nonperforming Assets / Period-End Loans and Leases and OREO |
| 5.11 |
| 5.54 |
| 3.67 |
| 1.73 |
| 0.69 |
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Nonperforming Loans and Leases / Period-End Loans and Leases |
| 4.24 |
| 4.62 |
| 3.05 |
| 1.48 |
| 0.63 |
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Loan and Lease Loss Reserve / Nonperforming Loans and Leases (a) |
| 90 |
| 75 |
| 82 |
| 72 |
| 159 |
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RECONCILIATION OF RESERVE FOR LOAN AND LEASE LOSSES (b) |
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($ millions) |
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Beginning Balance |
| $1,480.5 |
| $1,202.2 |
| $496.2 |
| $420.6 |
| $363.8 |
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Provision for Loan and Lease Losses |
| 1,758.9 |
| 2,314.6 |
| 2,037.7 |
| 319.8 |
| 50.6 |
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Allowance of Banks and Loans Acquired |
| - |
| - |
| 32.1 |
| 11.7 |
| 45.2 |
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Loans and Leases Charged Off: |
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Commercial |
| 330.7 |
| 436.6 |
| 169.6 |
| 83.2 |
| 16.3 |
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Real Estate |
| 1,552.4 |
| 1,590.8 |
| 1,186.4 |
| 163.9 |
| 22.7 |
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Personal |
| 50.5 |
| 60.0 |
| 36.2 |
| 22.3 |
| 14.5 |
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Leases |
| 2.0 |
| 5.7 |
| 2.2 |
| 1.9 |
| 1.9 |
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Total Charge-Offs |
| 1,935.6 |
| 2,093.1 |
| 1,394.4 |
| 271.3 |
| 55.4 |
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Recoveries on Loans and Leases: |
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Commercial |
| 20.7 |
| 19.8 |
| 7.1 |
| 6.4 |
| 6.9 |
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Real Estate |
| 54.1 |
| 28.7 |
| 16.5 |
| 2.9 |
| 2.7 |
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Personal |
| 8.0 |
| 5.8 |
| 5.2 |
| 4.2 |
| 4.2 |
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Leases |
| 1.0 |
| 2.5 |
| 1.8 |
| 1.9 |
| 2.6 |
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Total Recoveries |
| 83.8 |
| 56.8 |
| 30.6 |
| 15.4 |
| 16.4 |
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Net Loan and Lease Charge-offs |
| 1,851.8 |
| 2,036.3 |
| 1,363.8 |
| 255.9 |
| 39.0 |
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Ending Balance |
| $1,387.6 |
| $1,480.5 |
| $1,202.2 |
| $496.2 |
| $420.6 |
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Notes: |
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(a) Excludes nonaccrual loans held for sale. |
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(b) May not add due to rounding. |
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12