CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED BALANCE SHEETS (in thousands, except share data) December 31, =================================================================================================================================== 2003 2002 Assets Cash and due from banks .......................................................... $ 77,112 $ 87,638 Federal funds sold ............................................................... 32,415 31,400 ----------- ----------- Cash and cash equivalents ........................................................ 109,527 119,038 Interest-bearing time deposits ................................................... 8,141 3,568 Investment securities Available for sale ............................................................ 348,860 332,925 Held to maturity (fair value of $8,326 and $9,585) ............................ 7,937 9,137 ----------- ----------- Total investment securities ................................................. 356,797 342,062 Mortgage loans held for sale ..................................................... 3,043 21,545 Loans, net of allowance for loan losses of $25,493 and $22,417.................... 2,328,010 1,981,960 Premises and equipment ........................................................... 39,639 38,645 Federal Reserve and Federal Home Loan Bank stock ................................. 15,502 11,409 Interest receivable .............................................................. 16,840 17,346 Core deposit intangibles ........................................................ 24,044 19,577 Goodwill.......................................................................... 118,679 87,640 Cash value of life insurance...................................................... 37,927 14,309 Other assets ..................................................................... 18,663 21,588 ----------- ----------- Total assets ................................................................ $ 3,076,812 $ 2,678,687 =========== =========== Liabilities Deposits Noninterest-bearing ............................................................ $ 338,201 $ 272,128 Interest-bearing ............................................................... 2,023,900 1,764,560 ----------- ----------- Total deposits ............................................................... 2,362,101 2,036,688 Borrowings ....................................................................... 383,170 356,927 Interest payable ................................................................. 4,680 6,019 Other liabilities ................................................................ 22,896 17,924 ----------- ----------- Total liabilities ............................................................ 2,772,847 2,417,558 COMMITMENTS AND CONTINGENT LIABILITIES Stockholders' equity Preferred stock, no-par value Authorized and unissued -- 500,000 shares Common stock, $.125 stated value Authorized -- 50,000,000 shares Issued and outstanding -- 18,512,834 and 17,138,885 shares .................... 2,314 2,142 Additional paid-in capital ....................................................... 150,310 116,401 Retained earnings ................................................................ 149,096 138,110 Accumulated other comprehensive income ........................................... 2,245 4,476 ----------- ----------- Total stockholders' equity .................................................. 303,965 261,129 ----------- ----------- Total liabilities and stockholders' equity .................................. $ 3,076,812 $ 2,678,687 =========== =========== See notes to consolidated financial statements 23