NOTE 19 CONDENSED FINANCIAL INFORMATION (parent company only) Presented below is condensed financial information as to financial position, results of operations, and cash flows of the Corporation: CONDENSED BALANCE SHEETS CONDENSED STATEMENTS OF INCOME December 31, 2003 2002 ================================================================================ Assets Cash .............................................. $ 3,235 $ 4,404 Investment securities available for sale........... 3,500 3,500 Investment in subsidiaries ........................ 391,241 320,309 Goodwill .......................................... 448 448 Other assets ...................................... 10,500 12,265 -------- -------- Total assets ................................... $408,924 $340,926 ======== ======== Liabilities Borrowings ........................................ $ 99,550 $ 74,132 Other liabilities ................................. 5,409 5,665 -------- -------- Total liabilities .............................. 104,959 79,797 Stockholders' equity ................................. 303,965 261,129 -------- -------- Total liabilities and stockholders' equity ..... $408,924 $340,926 ======== ======== December 31, 2003 2002 2001 =================================================================================================================================== Income Dividends from subsidiaries ................................................ $ 45,445 $ 22,720 $ 20,245 Administrative services fees from subsidiaries.............................. 10,849 6,580 4,133 Other income ............................................................... 472 535 269 -------- -------- -------- Total income ............................................................ 56,766 29,835 24,647 -------- -------- -------- Expenses Amortization of core deposit intangibles, goodwill, and fair value adjustments ...................................... 26 28 66 Interest expense............................................................ 6,463 3,858 88 Salaries and employee benefits.............................................. 9,531 7,641 4,767 Net occupancy expenses...................................................... 1,869 1,527 1,002 Equipment expenses.......................................................... 1,955 1,447 898 Telephone expenses.......................................................... 1,571 1,543 547 Other expenses.............................................................. 3,730 2,767 1,003 -------- -------- -------- Total expenses .......................................................... 25,145 18,811 8,371 -------- -------- -------- Income before income tax benefit and equity in undistributed income of subsidiaries ......................................... 31,621 11,024 16,276 Income tax benefit ...................................................... 5,577 4,336 1,567 -------- -------- -------- Income before equity in undistributed income of subsidiaries ................. 37,198 15,360 17,843 Equity in undistributed (distributions in excess of) income of subsidiaries ................................................... (9,627) 12,476 4,366 -------- -------- -------- Net Income ................................................................... $ 27,571 $ 27,836 $ 22,209 ======== ======== ======== NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (table dollar amounts in thousands, except share data) 56