Top 50 Banks in Mortgage-Backed Securities Pass-Through Holdings

+++ (Dollars in millions)

part 1 of 4 Total

Rank 9/30/98

1 Chase Manhattan Corp., New York $35,016.70

2 BankAmerica Corp., Charlotte, N.C. (1 31,173.10

3 First Union Corp., Charlotte, N.C. 23,459.20

4 Norwest Corp., Minneapolis 16,005.40

5 Republic New York 12,549.70

6 ABN Amro Americas, Chicago (3) 7,908.70

7 Fleet Financial Group, Boston 7,525.20

8 Banc One Corp., Columbus, Ohio (2) 6,720.30

9 Fifth Third Bancorp, Cincinnati 6,000.50

10 Mellon Bank Corp., Pittsburgh 5,060.70

11 Wachovia Corp., Winston-Salem, N.C. 3,358.50

12 BankBoston Corp. 3,295.50

13 National City Corp., Cleveland 2,850.50

14 U.S. Bancorp, Minneapolis 2,622.10

15 Wells Fargo & Co., San Francisco 2,530.30

16 KeyCorp, Cleveland 2,478.00

17 Crestar Financial Corp., Richmond, Va 2,410.20

18 Comerica Inc., Detroit 2,259.00

19 Bank of Montreal (3) 2,003.80

20 Commerce Bancorp, Cherry Hill, N.J. 1,974.90

21 AmSouth Bancorp, Birmingham, Ala. 1,899.00

22 Bankers Trust Corp., New York 1,859.50

23 Allied Irish Banks Ltd., Dublin (3) 1,734.00

24 BB&T Corp., Winston-Salem, N.C. 1,676.70

25 TCF Financial Corp., Wayzata, Minn. 1,664.10

26 CNB Bancshares Inc., Evansville, Ind. 1,541.10

27 North Fork Bancorp, Melville, N.Y. 1,466.50

28 SunTrust Banks Inc., Atlanta 1,416.00

29 Cullen/Frost Bankers Inc., San Antoni 1,413.40

30 SouthTrust Corp., Birmingham, Ala. 1,401.40

31 Summit Bancorp, Princeton, N.J. 1,303.40

32 Star Banc Corp., Cincinnati 1,302.10

33 Regions Financial Corp., Birmingham, 1,286.60

34 Mercantile Bancorp, St. Louis 1,224.30

35 Community First Bankshares, Fargo, N. 1,214.50

36 HSBC Holdings, Plc, Hong Kong (3) 1,195.00

37 Pacific Century Financial Corp., Hono 1,191.90

38 Huntington Bancshares Inc., Columbus, 1,082.10

39 Royal Bank of Scotland, Edinburgh (3) 1,080.00

40 Firstar Corp., Milwaukee 1,048.90

41 Marshall &Ilsley Corp., Milwaukee 1,044.20

42 US Bancorp Inc., Johnstown, Pa. 774.9

43 Union Planters Corp., Memphis 768.6

44 M & T Bancorp, Buffalo 732.3

45 Hibernia Corp. New Orleans 731.9

46 Centura Banks Inc., Rocky Mount, N.C. 726.3

47 First Security Corp., Salt Lake City 705.2

48 Fulton Financial Corp., Lancaster, Pa 660.2

49 UST Corp., Boston 611.7

50 Valley National Bancorp, Wayne, N.J. 587

Totals for the top 50 banks $212,545

Totals for all commercial banks $277,192

part 2 of 4

Pass-Throughs as

Total a %of book Value

Rank 9/30/97 % Change 9/30/98 9/30/97

1 Chase Manh$22,007.50 59.1 101.38 99.29

2 BankAmeric 26,162.70 19.2 102.49 99.68

3 First Unio 11,726.70 100 101.76 100.12

4 Norwest Co 12,532.70 27.7 101.71 101.48

5 Republic N 10,005.70 25.4 100.7 100.41

6 ABN Amro A 5,259.90 50.4 100.64 100.18

7 Fleet Fina 6,285.30 19.7 103.8 101.4

8 Banc One C 6,955.30 -3.4 101.5 100.82

9 Fifth Thir 4,953.30 21.1 102.1 100.96

10 Mellon Ban 3,807.70 32.9 101.77 99.58

11 Wachovia C 2,520.50 33.2 101.8 101.02

12 BankBoston 2,156.70 52.8 101.44 99.87

13 National C 2,349.10 21.3 101.81 101.17

14 U.S. Banco 3,179.40 -17.5 102.5 100.91

15 Wells Farg 3,304.00 -23.4 101.59 101.14

16 KeyCorp, C 3,141.10 -21.1 102.04 101.15

17 Crestar Fi 2,142.40 12.5 101.29 98.68

18 Comerica I 2,948.00 -23.4 101.75 99.95

19 Bank of Mo 993.5 101.7 101.77 100.33

20 Commerce B 1,879.00 5.1 100.75 106.31

21 AmSouth Ba 2,262.10 -16 101.36 102.86

22 Bankers Tr 529.5 251.2 101.69 100

23 Allied Iri 1,888.90 -8.2 101.97 100.76

24 BB&T Corp. 1,638.00 2.4 101.98 100.8

25 TCF Financ 1,606.60 3.6 101.48 101.01

26 CNB Bancsh 1,392.50 10.7 101.13 99.57

27 North Fork 1,343.20 9.2 100.7 100.06

28 SunTrust B 2,080.10 -31.9 101.39 101.22

29 Cullen/Fro 1,189.10 18.9 101.47 98.13

30 SouthTrust 1,582.70 -11.5 101.71 100.93

31 Summit Ban 1,514.90 -14 100.46 99.68

32 Star Banc 529.1 146.1 101.8 100.69

33 Regions Fi 868.7 48.1 101.33 99.27

34 Mercantile 1,098.50 11.5 101.2 100.42

35 Community 465.2 161.1 102.01 101.23

36 HSBC Holdi 670 78.4 102.18 101.32

37 Pacific Ce 816.6 46 100.67 99.89

38 Huntington 1,373.20 -21.2 102.19 99.88

39 Royal Bank 1,399.00 -22.8 102.36 99.79

40 Firstar Co 999.9 4.9 100.4 99.62

41 Marshall & 412.4 153.2 102.75 102.08

42 US Bancorp 722.7 7.2 100.97 100.19

43 Union Plan 995.3 -22.8 103.28 99.29

44 M & T Banc 1,145.40 -36.1 101.04 100.26

45 Hibernia C 1,161.40 -37 102.05 100.61

46 Centura Ba 662.2 9.7 102.44 101.46

47 First Secu 871.1 -19 101.57 99.9

48 Fulton Fin 370.1 78.4 101.12 100.34

49 UST Corp., 208.7 193.1 101.86 101.08

50 Valley Nat 647 -9.3 100.22 99.44

Totals for $166,754 27.5 101.63 100.52

Totals for $243,799 13.7 101.64 100.86

part 4 of 4

Weighted

avg. matu Held Availabe

Years Maturity For Sale GNMA

Rank 9/30/98 9/30/98 9/30/98 9/30/98

1 Chase Manh 3.3 $987.40 $34,029.30$11,710.20

2 BankAmeric 3.7 1,573.60 29,599.50 1,906.30

3 First Unio 6.5 835.7 22,623.60 5,847.50

4 Norwest Co 4.9 0 16,005.40 1,414.20

5 Republic N 7.4 6,714.40 5,835.20 9,325.40

6 ABN Amro A 8 99.8 7,809.00 1,812.60

7 Fleet Fina 4.8 0 7,525.20 181

8 Banc One C 3.7 62.8 6,657.50 3,240.60

9 Fifth Thir 4.7 0 6,000.50 585

10 Mellon Ban 4.6 1,605.20 3,455.40 2,378.20

11 Wachovia C 3.3 525.7 2,832.80 1,020.10

12 BankBoston 2.8 137.8 3,157.70 425.8

13 National C 4.9 0 2,850.50 634.6

14 U.S. Banco 4.3 0 2,622.10 244

15 Wells Farg 2.3 0 2,530.30 101.8

16 KeyCorp, C 5.9 0 2,478.00 1,587.40

17 Crestar Fi 3.8 20.1 2,390.10 73.8

18 Comerica I 5.3 0 2,259.00 35.3

19 Bank of Mo 3.9 0 2,003.80 1,795.60

20 Commerce B 7 977.3 997.6 409.1

21 AmSouth Ba 7.5 975.1 923.9 395.7

22 Bankers Tr 2 0 1,859.50 1,342.20

23 Allied Iri 5.8 0 1,734.00 301.2

24 BB&T Corp. 4.7 0 1,676.70 5.7

25 TCF Financ 5.2 0 1,664.10 36.8

26 CNB Bancsh 9.4 58.4 1,482.60 810.5

27 North Fork 8.1 638.8 827.6 586.2

28 SunTrust B 1.5 0 1,416.00 750.5

29 Cullen/Fro 5.8 115.2 1,298.20 928.4

30 SouthTrust 4.1 351 1,050.50 272.2

31 Summit Ban 4.1 986.9 316.5 431.8

32 Star Banc 3.6 0 1,302.10 394.6

33 Regions Fi 2.2 50.1 1,236.60 142.6

34 Mercantile 4.3 73.3 1,151.10 151.8

35 Community 3.6 0 1,214.50 66.7

36 HSBC Holdi 5.2 0 1,195.00 88.3

37 Pacific Ce 3.5 456.4 735.5 582.9

38 Huntington 5.4 0 1,082.10 53.8

39 Royal Bank 7.7 0 1,080.00 194

40 Firstar Co 5.3 906.3 142.6 777.5

41 Marshall & 1.5 0 1,044.20 4.6

42 US Bancorp 8.7 289.1 485.8 353.8

43 Union Plan 4.4 0 768.6 145.6

44 M & T Banc 2.5 0 732.3 121.3

45 Hibernia C 4.7 0 731.9 369.5

46 Centura Ba 4.7 0 726.3 190.3

47 First Secu 4.6 0 705.2 145

48 Fulton Fin 4.8 133.7 526.5 12.7

49 UST Corp., 5.8 0 611.7 10.4

50 Valley Nat 4.5 64.3 522.7 425.8

Totals for 4.8 $18,638 $193,907 $54,821

Totals for all co $32,506 $244,686 $76,786

part 4 of 4

FNMA/ Other

Rank FHLMC 9/30/98

1 Chase Manh$23,306.50 -

2 BankAmeric 28,997.80 269

3 First Unio 17,611.80 -

4 Norwest Co 14,590.50 0.6

5 Republic N 3,092.10 132.2

6 ABN Amro A 5,996.40 99.8

7 Fleet Fina 7,344.20 -

8 Banc One C 3,279.70 199.9

9 Fifth Thir 5,183.60 231.9

10 Mellon Ban 2,682.50 -

11 Wachovia C 2,338.40 -

12 BankBoston 2,869.80 -

13 National C 2,167.00 48.9

14 U.S. Banco 2,370.20 7.9

15 Wells Farg 2,428.10 0.5

16 KeyCorp, C 890.7 -

17 Crestar Fi 2,336.40 -

18 Comerica I 2,205.70 18

19 Bank of Mo 208.3 -

20 Commerce B 1,564.30 1.5

21 AmSouth Ba 1,503.30 -

22 Bankers Tr 510 7.3

23 Allied Iri 1,432.70 -

24 BB&T Corp. 1,671.00 -

25 TCF Financ 1,521.30 106

26 CNB Bancsh 725.2 5.4

27 North Fork 833.1 47.3

28 SunTrust B 664.7 0.8

29 Cullen/Fro 485 -

30 SouthTrust 1,127.40 1.8

31 Summit Ban 844.8 26.8

32 Star Banc 907.6 -

33 Regions Fi 1,019.40 124.6

34 Mercantile 1,072.60 -

35 Community 1,147.80 0.1

36 HSBC Holdi 1,098.40 8.3

37 Pacific Ce 609 -

38 Huntington 1,028.20 -

39 Royal Bank 886 -

40 Firstar Co 271.4 -

41 Marshall & 1,039.60 -

42 US Bancorp 421.1 -

43 Union Plan 622.8 0.3

44 M & T Banc 554.8 56.2

45 Hibernia C 362.4 -

46 Centura Ba 536 -

47 First Secu 559.9 0.4

48 Fulton Fin 647.5 -

49 UST Corp., 601.3 -

50 Valley Nat 160.7 0.4

Totals for $156,329 $1,396

Totals for $197,950 $2,456

Source: Sheshunoff Information Services Inc., Austin Tex. and American Banker research. Mortgage-Backed Securities are the book value (amortized cost) of held-to-maturity mortgage security pass-throughs and the fair market value of available-for-sale mortgage security pass-throughs, and holdings of U.S. government and private certificates of participation in pools of residential mortgages. They are pass-through securities for which each investor receives a pro rata distribution of principal and interest. U.S. Government MBS pass-throughs are issued or granted by the Government National Mortgage Association (GNMA), Fannie Mae, and Freddie Mac. Other MBS pass-throughs are private issues that are not guaranteed by the U.S. government or one of its agencies. Market value of MBS as % of book value (amortized cost) is the market value of the mortgage-backed security pass- throughs available-for-sale expressed as a percentage of the cost. Mortgage pass-throughs held-to-maturity and available-for-sale reflect the designation mandated by FASB 115 in accordance with generally accepted accounting practices. Weighted average maturity in years reflects the amortized cost value of MBS pass-throughs allocated to the maturity range designated as per FDIC call reports. It is adjusted for adjustable rate MBS pass-throughs and for securities repricing and/or maturing within one year. This does not necessarily capture the effect of bond call provisions or other embedded options. (1) Reflects NationsBank/BankAmerica merger closing Sept. 30. (2) Reflects BancOne/First Chicago NBD merger closing Oct. 1. (3) Bank holding company ABN-Amro (LaSalle, EAB, Std. Federal), Allied Irish Banks (First Maryland and others), HSBC Holdings (Marine Midland), Royal Bank of Scotland (Citizens Financial). ===

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