+++
part 1 of 2
Net Interest Efficiency S&P/
margin %margin ratio Moody's
6/30/976/30/96 6/30/97 credit rtg.
AmSouth Bancorp, Birmingham, Ala. 4.09 3.89 55.82 A-/A2
Banc One Corp., Columbus, Ohio 5.41 5.43 78.49 AA-/Aa3
Bank of New York Co. 4.08 4.28 47.55 A/A1
BankAmerica Corp., San Francisco 4.11 4.27 56.30 A+/A1
BankBoston Corp. 4.38 4.40 58.22 A-/A3
Bankers Trust New York Corp. 1.29 1.09 80.00 A+/A2
Barnett Banks, Inc., Jacksonville, 5.05 5.30 59.36 A-/A2
BB&T Corp., Winston-Salem, N.C. 4.59 4.49 52.98 A-/A1
Central Fidelity Banks Inc. Richmon 4.15 3.83 51.44 BBB+/NR
Chase Manhattan Corp., New York 5.41 5.43 59.69 A/Aa3
Citicorp, New York 5.00 5.25 53.76 A+/A1
Citizens Fin'l Group Inc., Providen 4.27 4.04 57.52 NR
Comerica Inc., Detroit 4.57 4.55 51.55 A/A2
Compass Bancshares Inc., Birmingham 4.20 4.08 60.75 NR
CoreStates Financial Corp., Philade 5.37 5.56 52.54 A/NR
Crestar Financial Corp., Richmond, 4.58 4.48 54.36 A-/A2
Fifth Third Bancorp, Cincinnati 4.11 4.01 42.04 NR
First American Corp., Nashville, Te 4.07 3.87 63.34BBB/Baa2
First Bank System Inc., Minneapolis 4.91 4.91 47.70 A/A2
First Chicago NBD Corp. 4.12 3.74 51.72 A+/A1
First Empire State Corp., Buffalo 4.39 4.46 56.04 NR
First Maryland Bancorp, Baltimore 4.40 4.25 60.15 A/NR
First of America Bank Corp., Kalama 4.67 4.49 61.03 A-/A2
First Security Corp., Salt Lake Cit 4.37 4.47 58.92 BBB+/A3
First Tennesee National Corp., Memp 4.26 4.09 68.08 A-/Baa1
First Union Corp., Charlotte, N.C. 4.36 4.17 55.97 A/A1
Firstar Corp., Milwaukee 4.44 4.50 58.29 A-/A2
Fleet Financial Group, Boston 5.25 4.76 59.32 A-/A2
Harris Bankcorp, Chicago 3.71 3.66 66.69 AA-/NR
HSBC Americas Inc., Buffalo 4.29 4.72 50.39 A/NR
Huntington Bancshares, Columbus, Oh 4.50 4.15 53.62 A-/A1
J.P. Morgan & Co., New York 1.06 1.01 69.29 AA+/Aa2
KeyCorp, Cleveland 4.69 4.80 58.49 A-/A1
LaSalle National Corp., Chicago 3.75 3.87 45.71 NR
Marshall & Ilsley Corp., Milwaukee 4.05 4.19 65.86 A+/A1
MBNA Corp., Newark, Del. 7.40 7.66 64.28 BBB+/A3
Mellon Bank Corp., Pittsburgh, Pa. 4.29 4.30 64.51 A/A2
Mercantile Bancorp, St. Louis, Mo. 4.30 4.39 55.55 BBB+/A3
National City Corp., Cleveland 4.31 4.45 63.00 A/A1
NationsBank Corp., Charlotte, N.C. 3.89 3.62 56.51 A+/A1
Northern Trust Corp., Chicago 2.20 2.22 63.66 AA-/A2
Norwest Corp., Minneapolis 5.69 5.54 63.33 AA-/Aa3
Old Kent Fin'l Corp., Grand Rapids, 4.37 4.48 57.01 A/A3
Pacific Century Financial Corp., Ho 4.00 3.95 64.34 A-/A2
PNC Bank Corp., Pittsburgh 3.84 3.72 60.61 A-/A2
Popular Inc., San Juan, P.R. 4.56 4.48 61.83 BBB+/A3
Regions Fin'l Corp., Montgomery, Al 4.32 4.40 55.46 A+/A2
Republic New York Corp. 2.31 2.52 57.00 AA/Aa3
Signet Banking Corp., Richmond, Va. 4.77 4.75 95.61 NR/BBB2
SouthTrust Corp., Birmingham, Ala. 3.97 4.03 55.45 A-/A3
Star Banc Corp., Cincinnati 4.96 4.69 47.97 NR/A3
State Street Corp., Boston 2.21 2.24 75.09 AA-/A1
Summit Bancorp, Princeton, N.J. 4.59 4.53 52.02 BBB+/A3
SunTrust Banks Inc., Atlanta 4.16 4.43 58.43 A+/A1
U.S. Bancorp, Portland, Ore. 5.31 5.41 57.94 A/A2
Union Bank of California, San Franc 4.75 4.77 60.99 A/NR
Union Planters Corp., Memphis, Tenn 4.75 4.47 51.89 BBB/NR
Wachovia Corp., Winston-Salem, N.C. 4.11 3.99 53.72 AA/Aa3
Wells Fargo & Co., San Francisco 5.93 6.03 64.13 A/A1
part 2 of 2
Net present
value Target Price Upside Potential
cmn. shrs 1997 1998 1997 1998
AmSouth Bancorp, Birmingham, Ala. 2,491.70 34.90 39.09 -7.70 3.38
Banc One Corp., Columbus, Ohio 24,439.80 41.61 52.01-13.99 7.52
Bank of New York Co. 15,261.30 45.29 51.40 -4.76 8.10
BankAmerica Corp., San Francisco 39,672.20 63.90 72.21 -0.9211.96
BankBoston Corp. 9,950.60 78.70 88.15 8.7421.79
Bankers Trust New York Corp. 5,502.70 80.72 89.60 -7.35 2.84
Barnett Banks, Inc., Jacksonville 8,056.20 46.47 51.58-11.49-1.75
BB&T Corp., Winston-Salem, N.C. 4,009.80 40.21 45.44-10.65 0.97
Central Fidelity Banks Inc. Richm 1,844.30 33.65 38.03 -5.21 7.11
Chase Manhattan Corp., New York 39,742.70 106.82 122.84 10.1226.64
Citicorp, New York 50,952.40 127.91 144.54 6.1019.89
Citizens Fin'l Group Inc., Provid N/A N/A N/A N/A N/A
Comerica Inc., Detroit 6,903.80 74.53 85.71 9.6026.04
Compass Bancshares Inc., Birmingh 1,910.20 33.96 37.35 0.9911.09
CoreStates Financial Corp., Phila 9,268.00 52.38 58.14 -2.5513.94
Crestar Financial Corp., Richmond 3,115.30 31.27 34.70-19.57-10.73
Fifth Third Bancorp, Cincinnati 7,417.80 55.84 64.22 2.0717.38
First American Corp., Nashville, 1,422.70 27.40 30.15 0.3410.37
First Bank System Inc., Minneapol10,103.10 82.30 97.94 -3.6014.72
First Chicago NBD Corp. 16,166.50 57.92 64.29 -4.26 6.27
First Empire State Corp., Buffalo 1,984.80 335.22 372.10 -0.5310.41
First Maryland Bancorp, Baltimore N/A N/A N/A N/A N/A
First of America Bank Corp., Kala 3,687.60 44.77 48.80 -2.15 6.66
First Security Corp., Salt Lake C 2,687.10 26.67 30.14 -2.3510.35
First Tennesee National Corp., Me 2,658.10 45.32 50.31 -5.58 4.81
First Union Corp., Charlotte, N.C12,335.80 48.82 54.19 5.5517.16
Firstar Corp., Milwaukee 3,571.00 27.93 31.84 -8.44 4.38
Fleet Financial Group, Boston 14,754.40 70.56 77.61 11.5522.71
Harris Bankcorp, Chicago N/A N/A N/A N/A N/A
HSBC Americas Inc., Buffalo N/A N/A N/A N/A N/A
Huntington Bancshares, Columbus, 3,648.40 27.72 30.76 -5.65 4.73
J.P. Morgan & Co., New York 20,928.20 116.57 128.22 11.6822.85
KeyCorp, Cleveland 10,514.00 54.40 60.93 -2.64 9.04
LaSalle National Corp., Chicago N/A N/A N/A N/A N/A
Marshall & Ilsley Corp., Milwauke 3,070.30 37.39 42.62 -7.97 4.91
MBNA Corp., Newark, Del. 10,188.20 39.03 48.40 6.5732.14
Mellon Bank Corp., Pittsburgh, Pa10,372.80 45.76 50.80 1.4112.57
Mercantile Bancorp, St. Louis, Mo 4,059.30 60.86 67.55 0.1711.19
National City Corp., Cleveland 10,596.10 54.24 60.20 3.3114.67
NationsBank Corp., Charlotte, N.C42,429.40 61.43 73.72 -4.8514.18
Northern Trust Corp., Chicago 4,785.20 49.64 55.11 2.6213.91
Norwest Corp., Minneapolis 22,630.10 68.32 77.20 21.4637.25
Old Kent Fin'l Corp., Grand Rapid 2,161.10 52.96 57.72 -1.94 6.89
Pacific Century Financial Corp., 1,582.10 44.61 48.18 -3.54 4.18
PNC Bank Corp., Pittsburgh 11,489.70 41.92 46.11 0.4010.44
Popular Inc., San Juan, P.R. 2,769.30 46.09 49.78 14.1623.30
Regions Fin'l Corp., Montgomery, 3,781.80 30.16 33.47 -4.65 5.84
Republic New York Corp. 5,270.70 107.42 117.09 -0.08 8.92
Signet Banking Corp., Richmond, V 2,142.50 40.45 47.33 12.3631.46
SouthTrust Corp., Birmingham, Ala 3,807.80 42.78 47.48 3.3814.76
Star Banc Corp., Cincinnati 3,041.30 43.13 49.60 2.0917.40
State Street Corp., Boston 3,825.60 54.25 62.39 17.3034.90
Summit Bancorp, Princeton, N.J. 4,233.10 48.04 53.32 -4.17 6.37
SunTrust Banks Inc., Atlanta 10,614.10 56.00 61.60 1.6911.86
U.S. Bancorp, Portland, Ore. 7,932.50 65.65 70.25 2.38 9.55
Union Bank of California, San Fra 3,365.60 74.18 79.37 3.2010.43
Union Planters Corp., Memphis, Te 2,804.20 48.65 53.52 -6.22 3.16
Wachovia Corp., Winston-Salem, N. 8,110.50 55.40 60.93 -5.00 4.50
Wells Fargo & Co., San Francisco 16,411.00 229.12 290.98-14.98 7.97
