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<SEC-DOCUMENT>0000950123-01-000064.txt : 20010122
<SEC-HEADER>0000950123-01-000064.hdr.sgml : 20010122
ACCESSION NUMBER:		0000950123-01-000064
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20001231
ITEM INFORMATION:		
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20010104

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			J P MORGAN CHASE & CO
		CENTRAL INDEX KEY:			0000019617
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				132624428
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	001-05805
		FILM NUMBER:		1502036

	BUSINESS ADDRESS:	
		STREET 1:		270 PARK AVE
		STREET 2:		39TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2122706000

	MAIL ADDRESS:	
		STREET 1:		270 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHASE MANHATTAN CORP /DE/
		DATE OF NAME CHANGE:	19960402

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMICAL BANKING CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHEMICAL NEW YORK CORP
		DATE OF NAME CHANGE:	19880508
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y44093e8-k.txt
<DESCRIPTION>J.P. MORGAN CHASE & CO.
<TEXT>

<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549

                                    FORM 8-K

                CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


DATE OF REPORT DECEMBER 31,  2000                  COMMISSION FILE NUMBER 1-5805
               ------------------                                         ------


                             J.P. MORGAN CHASE & CO.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)




                 DELAWARE                                   13-2624428
      -------------------------------                   -------------------
      (STATE OR OTHER JURISDICTION OF                     (IRS EMPLOYER
      INCORPORATION OR ORGANIZATION)                    IDENTIFICATION NO.)



270 PARK AVENUE, NEW YORK, NEW YORK                            10017
- ----------------------------------------                     ----------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                     (ZIP CODE)



        REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (212) 270-6000
                                                           --------------

                         THE CHASE MANHATTAN CORPORATION
          -------------------------------------------------------------
          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)


<PAGE>   2



Item 2.  Acquisition or Disposition of Assets.
- ----------------------------------------------

         On December 31, 2000, J.P. Morgan & Co. Incorporated ("J.P. Morgan")
merged with and into The Chase Manhattan Corporation ("Chase"). Upon completion
of the merger, Chase changed its name to "J.P. Morgan Chase & Co." As a result
of the merger, each outstanding share of common stock of J.P. Morgan was
converted into 3.7 shares of common stock of J.P. Morgan Chase & Co. and each
outstanding share of preferred stock of J.P. Morgan was converted into a share
of preferred stock of J.P. Morgan Chase & Co. having substantially the same
rights, powers and preferences as the J.P. Morgan preferred stock. A copy of the
press release announcing the completion of the merger is filed as an exhibit
hereto and incorporated by reference herein.

Item 5.  Other Events.
- ----------------------

         The merger was accounted for as a pooling of interests. As a result,
financial information following completion of the merger will present the
combined results of Chase and J.P. Morgan as if the merger had been in effect
for all periods presented. For informational purposes, we have attached as
exhibits hereto pro forma combined financial data for Chase and J.P. Morgan for
specified quarterly periods prior to the merger. This historical financial
information does not reflect the anticipated merger-related charge of $1.2
billion to be taken at December 31, 2000, nor the cancellation and retirement of
all remaining shares of J.P. Morgan's treasury stock, at the time of the merger.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits
- ---------------------------------------------------------------------------

(a)      Financial Statements of Business Acquired
         -----------------------------------------

         (1) Report of Independent Accountants to the Board of Directors and
Stockholders of J.P. Morgan dated January 12, 2000 (incorporated by reference to
Chase's Current Report on Form 8-K dated November 28, 2000).

         (2) The audited consolidated balance sheet of J.P. Morgan and
subsidiaries as of December 31, 1999 and 1998, and the related consolidated
statements of income, cash flows and changes in stockholders' equity for each of
the years in the three-year period ended December 31, 1999, and the consolidated
statement of condition of Morgan Guaranty Trust Company of New York and its
subsidiaries as of December 31, 1999 and 1998 (incorporated by reference to
Chase's Current Report on Form 8-K dated November 28, 2000).

         (3) The unaudited consolidated balance sheet of J.P. Morgan and
subsidiaries as of September 30, 2000 and 1999 and the unaudited consolidated
statements of income, cash flows and changes in stockholders' equity of J.P.
Morgan and subsidiaries for the nine months ended September 30, 2000 and 1999,
and the consolidated statement of condition of Morgan Guaranty Trust Company of
New York and its subsidiaries as of September 30, 2000 and 1999 (incorporated by
reference to Chase's Current Report on Form 8-K dated November 28, 2000).

<PAGE>   3
(b)      Pro Forma Financial Information
         -------------------------------

         (1) Chase and J.P. Morgan unaudited pro forma combined statement of
income summary, unaudited pro forma combined balance sheet at September 30,
2000, unaudited pro forma combined statements of income for each of the years in
the three-year period ended December 31, 1999 and for the nine months ended
September 30, 2000 and 1999, and the notes to unaudited pro forma combined
financial statements (incorporated by reference to Chase's Current Report on
Form 8-K dated November 28, 2000).


(c)      Exhibits
         --------

The following exhibits are filed with this report.

<TABLE>
<CAPTION>
Exhibit Number              Description
- --------------              -----------
<S>                         <C>
2                           Agreement and Plan of Merger, dated as of September 12, 2000, between
                            The Chase Manhattan Corporation and J.P. Morgan & Co. Incorporated
                            (incorporated by reference to Current Report on Form 8-K of The Chase
                            Manhattan Corporation, dated September 12, 2000 and filed September 18,
                            2000).

99.1                        Press Release.

99.2                        Supplemental unaudited pro forma combined statements of income of J.P.
                            Morgan Chase & Co.

99.3                        Supplemental unaudited pro forma combined balance sheet of J.P. Morgan
                            Chase & Co.

99.4                        Report of Independent Accountants to the Board of Directors and
                            Stockholders of J.P. Morgan dated January 12, 2000 (incorporated by
                            reference to Chase's Current Report on Form 8-K dated November 28,
                            2000).

99.5                        The audited consolidated balance sheet of J.P. Morgan and subsidiaries
                            as of December 31, 1999 and 1998, and the related consolidated
                            statements of income, cash flows and changes in stockholders' equity
                            for each of the years in the three-year period ended December 31, 1999,
                            and the consolidated statement of condition of Morgan Guaranty Trust
                            Company of New York and its subsidiaries as of December 31, 1999 and
                            1998 (incorporated by reference to Chase's Current Report on Form 8-K
                            dated November 28, 2000).
</TABLE>

<PAGE>   4
<TABLE>
<S>                         <C>

99.6                        The unaudited consolidated balance sheet of J.P. Morgan and
                            subsidiaries as of September 30, 2000 and 1999 and the unaudited
                            consolidated statements of income, cash flows and changes in
                            stockholders' equity of J.P. Morgan and subsidiaries for the nine
                            months ended September 30, 2000 and 1999, and the consolidated
                            statement of condition of Morgan Guaranty Trust Company of New York and
                            its subsidiaries as of September 30, 2000 and 1999 (incorporated by
                            reference to Chase's Current Report on Form 8-K dated November 28,
                            2000).

99.7                        Chase and J.P. Morgan unaudited pro forma combined statement of income
                            summary, unaudited pro forma combined balance sheet at September 30,
                            2000, unaudited pro forma combined statements of income for each of the
                            years in the three-year period ended December 31, 1999 and for the nine
                            months ended September 30, 2000 and 1999, and the notes to unaudited
                            pro forma combined financial statements (incorporated by reference to
                            Chase's Current Report on Form 8-K dated November 28, 2000).


</TABLE>
<PAGE>   5
                                    SIGNATURE



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.




                                                J.P. MORGAN CHASE & CO.
                                            ------------------------------
                                                 (Registrant)



Date     January  4, 2001                   By:  /s/ Joseph L. Sclafani
                                            ------------------------------
                                                     Joseph L. Sclafani

                                                  Executive Vice President
                                                      and Controller
                                               [Principal Accounting Officer]



<PAGE>   6
                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
Exhibit Number              Description
- --------------             -----------
<S>                        <C>
2                          Agreement and Plan of Merger, dated as of September
                           12, 2000, between The Chase Manhattan Corporation and
                           J.P. Morgan & Co. Incorporated (incorporated by
                           reference to Current Report on Form 8-K of The Chase
                           Manhattan Corporation, dated September 12, 2000 and
                           filed September 18, 2000).

99.1                       Press Release.

99.2                       Supplemental unaudited pro forma combined statements
                           of income of J.P. Morgan Chase & Co.

99.3                       Supplemental unaudited pro forma combined balance
                           sheet of J.P. Morgan Chase & Co.

99.4                       Report of Independent Accountants to the Board of
                           Directors and Stockholders of J.P. Morgan dated
                           January 12, 2000 (incorporated by reference to
                           Chase's Current Report on Form 8-K dated November 28,
                           2000).

99.5                       The audited consolidated balance sheet of J.P. Morgan
                           and subsidiaries as of December 31, 1999 and 1998,
                           and the related consolidated statements of income,
                           cash flows and changes in stockholders' equity for
                           each of the years in the three-year period ended
                           December 31, 1999, and the consolidated statement of
                           condition of Morgan Guaranty Trust Company of New
                           York and its subsidiaries as of December 31, 1999 and
                           1998 (incorporated by reference to Chase's Current
                           Report on Form 8-K dated November 28, 2000).

99.6                       The unaudited consolidated balance sheet of J.P.
                           Morgan and subsidiaries as of September 30, 2000 and
                           1999 and the unaudited consolidated statements of
                           income, cash flows and changes in stockholders'
                           equity of J.P. Morgan and subsidiaries for the nine
                           months ended September 30, 2000 and 1999, and the
                           consolidated statement of condition of Morgan
                           Guaranty Trust Company of New York and its
                           subsidiaries as of September 30, 2000 and 1999
</TABLE>

<PAGE>   7
<TABLE>
<CAPTION>
<S>                        <C>
                           (incorporated by reference to Chase's Current Report
                           on Form 8-K dated November 28, 2000).

99.7                       Chase and J.P. Morgan unaudited pro forma combined
                           statement of income summary, unaudited pro forma
                           combined balance sheet at September 30, 2000,
                           unaudited pro forma combined statements of income for
                           each of the years in the three-year period ended
                           December 31, 1999 and for the nine months ended
                           September 30, 2000 and 1999, and the notes to
                           unaudited pro forma combined financial statements
                           (incorporated by reference to Chase's Current Report
                           on Form 8-K dated November 28, 2000).
</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y44093ex99-1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

<PAGE>   1

Exhibit 99.1

[JP MORGAN LOGO]                                    [CHASE LOGO]


NEWS RELEASE




FOR IMMEDIATE RELEASE


Investor Contact:                              Media Contacts:
John Borden, 212-270-7318                      Jon Diat, 212-270-5089
                                               Joe Evangelisti,212-648-9589



                           CHASE AND J.P. MORGAN MERGE

                CREATE PREEMINENT GLOBAL FINANCIAL SERVICES FIRM


         NEW YORK, JANUARY 2 - The Chase Manhattan Corporation and J.P. Morgan &
Co. Incorporated today said that they have completed the merger of their holding
companies, effective December 31, 2000. The name of the new firm is J.P. Morgan
Chase & Co.

J.P. Morgan Chase is a premier global competitor with operations in over 60
countries. The firm has stockholders' equity of more than $39 billion, assets in
excess of $705 billion and a market capitalization of approximately $83 billion.
Headquartered in New York, J.P. Morgan Chase serves 32 million consumer
customers in the United States, over 5,000 corporate, institutional, and
government clients worldwide, and has over 90,000 employees globally. The
company's new web site address is www.jpmorganchase.com.

As a result of the merger, 3.7 shares of J.P. Morgan Chase common stock are to
be exchanged for each share of J.P. Morgan common stock. Chase, under its new
name - J.P. Morgan Chase & Co. - commences trading on the New York Stock
Exchange today under the ticker symbol "JPM."

                                     # # # #





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>y44093ex99-2.txt
<DESCRIPTION>UNAUDITED PRO FORMA COMBINED STATEMENTS OF INCOME
<TEXT>

<PAGE>   1
EXHIBIT 99.2
J.P. MORGAN CHASE & CO.
UNAUDITED PRO FORMA COMBINED STATEMENTS OF INCOME
(IN MILLIONS, EXCEPT PER SHARE DATA)


<TABLE>
<CAPTION>
                                                    Third    Second     First       Fourth       Third        Second         First
                                                   Quarter   Quarter   Quarter      Quarter     Quarter       Quarter       Quarter
                                                    2000      2000       2000        1999         1999         1999          1999
                                                   ---------------------------------------------------------------------------------
<S>                                                <C>       <C>       <C>          <C>         <C>           <C>           <C>
INTEREST INCOME
Loans                                              $ 4,495   $4,119    $ 3,941      $ 3,872     $ 3,703       $ 3,569       $3,639
Securities                                           1,093    1,081      1,152        1,194       1,164         1,152        1,294
Trading Assets                                       1,855    1,753      1,517        1,441       1,369         1,343        1,279
Federal Funds Sold and Securities Purchased
      Under Resale Agreements                        1,070    1,065        948          737         746           734          799
Securities Borrowed                                    607      528        528          472         469           480          456
Deposits With Banks                                    180      176        212          245         256           240          265
Other Sources                                          123      136        142           97          72            68           52
                                                   ---------------------------------------------------------------------------------
           Total Interest Income                   $ 9,423   $8,858    $ 8,440      $ 8,058     $ 7,779       $ 7,586       $7,784
                                                   ---------------------------------------------------------------------------------
INTEREST EXPENSE
Deposits                                           $ 2,765   $2,644    $ 2,507      $ 2,316     $ 2,198       $ 2,117       $2,214
Short-Term and Other Liabilities                     3,458    3,147      2,784        2,492       2,336         2,209        2,286
Long-Term Debt                                         857      773        735          687         686           690          691
                                                   ---------------------------------------------------------------------------------
           Total Interest Expense                  $ 7,080   $6,564    $ 6,026      $ 5,495     $ 5,220       $ 5,016       $5,191
                                                   ---------------------------------------------------------------------------------
NET INTEREST INCOME                                $ 2,343   $2,294    $ 2,414      $ 2,563     $ 2,559       $ 2,570       $2,593
Provision for Loan Losses                              298      328        342          429         353           283          381
                                                   ---------------------------------------------------------------------------------
NET INTEREST INCOME AFTER PROVISION
      FOR LOAN LOSSES                              $ 2,045   $1,966    $ 2,072      $ 2,134     $ 2,206       $ 2,287       $2,212
                                                   ---------------------------------------------------------------------------------
NONINTEREST REVENUE
Trading Revenue                                    $ 1,455   $1,730    $ 1,971      $ 1,285     $   886       $ 1,329       $1,752
Investment Banking Fees                              1,013    1,107      1,191          884         884         1,042          707
Trust, Custody and Investment Management Fees          963      859        798          736         735           729          668
Credit Card Revenue                                    471      443        397          440         441           438          379
Other Fees and Commissions                             993      916      1,002          946         835           770          759
Private Equity Gains (Losses)                          (20)     459        674        1,614         698           525          310
Securities Gains (Losses)                               90       24         (3)        (235)        (51)          (36)         130
Other Revenue                                          415       67        325          205         152           343          345
                                                   ---------------------------------------------------------------------------------
           Total Noninterest Revenue               $ 5,380   $5,605    $ 6,355      $ 5,875     $ 4,580       $ 5,140       $5,050
                                                   ---------------------------------------------------------------------------------
NONINTEREST EXPENSE
Salaries                                           $ 2,740   $2,543    $ 2,910      $ 2,257     $ 2,183       $ 2,255       $2,354
Employee Benefits                                      395      420        430          374         361           369          381
Occupancy                                              338      297        308          304         300           286          300
Technology and Communications                          632      574        580          579         538           529          533
Professional Services                                  275      281        282          291         245           238          238
Amortization of Intangibles                            157       92         93           86          78            84           81
Restructuring Costs                                     79       50          0           23           0             0            0
Other Expense                                          736      818        750          738         625           732          633
                                                   ---------------------------------------------------------------------------------
           Total Noninterest Expense               $ 5,352   $5,075    $ 5,353      $ 4,652     $ 4,330       $ 4,493       $4,520
                                                   ---------------------------------------------------------------------------------
INCOME BEFORE INCOME TAX EXPENSE                   $ 2,073   $2,496    $ 3,074      $ 3,357     $ 2,456       $ 2,934       $2,742
Income Tax Expense                                     675      863      1,086        1,155         827         1,037          969
                                                   ---------------------------------------------------------------------------------
NET INCOME                                         $ 1,398   $1,633    $ 1,988      $ 2,202     $ 1,629       $ 1,897       $1,773
                                                   ---------------------------------------------------------------------------------
NET INCOME APPLICABLE TO COMMON STOCK              $ 1,374   $1,607    $ 1,963      $ 2,177     $ 1,602       $ 1,870       $1,746
                                                   ---------------------------------------------------------------------------------
NET INCOME PER COMMON SHARE:
      Basic                                        $  0.73   $ 0.87    $  1.06      $  1.16     $  0.84       $  0.97       $ 0.90
      Diluted                                         0.69     0.83       1.01         1.10        0.80          0.93         0.86
Average Common Shares Outstanding
      Basic                                        1,893.3   1,853.1   1,853.0      1,880.1     1,903.9       1,926.4      1,941.4
      Diluted                                      1,983.4   1,939.2   1,945.1      1,971.4     1,994.9       2,019.1      2,034.6
</TABLE>


<TABLE>
<CAPTION>
                                                     Full           Full        Full
                                                     Year           Year        Year
                                                     1999           1998        1997
                                                 -------------------------------------
<S>                                                <C>            <C>          <C>
INTEREST INCOME
Loans                                              $ 14,783       $15,498      $14,950
Securities                                            4,804         5,072        4,585
Trading Assets                                        5,432         6,775        7,045
Federal Funds Sold and Securities Purchased
      Under Resale Agreements                         3,016         4,201        4,636
Securities Borrowed                                   1,877         2,129        1,814
Deposits With Banks                                   1,006           936          724
Other Sources                                           289           319          450
                                                 -------------------------------------
           Total Interest Income                   $ 31,207       $34,930      $34,204
                                                 -------------------------------------
INTEREST EXPENSE
Deposits                                           $  8,845       $ 9,663      $ 9,314
Short-Term and Other Liabilities                      9,323        12,612       12,534
Long-Term Debt                                        2,754         2,808        2,231
                                                 -------------------------------------
           Total Interest Expense                  $ 20,922       $25,083      $24,079
                                                 -------------------------------------
NET INTEREST INCOME                                $ 10,285       $ 9,847      $10,125
Provision for Loan Losses                             1,446         1,453          804
                                                 -------------------------------------
NET INTEREST INCOME AFTER PROVISION
      FOR LOAN LOSSES                              $  8,839       $ 8,394      $ 9,321
                                                 -------------------------------------
NONINTEREST REVENUE
Trading Revenue                                    $  5,252       $ 3,600      $ 3,460
Investment Banking Fees                               3,517         2,903        2,259
Trust, Custody and Investment Management Fees         2,868         2,473        2,164
Credit Card Revenue                                   1,698         1,474        1,088
Other Fees and Commissions                            3,310         2,792        2,565
Private Equity Gains (Losses)                         3,147         1,312        1,238
Securities Gains (Losses)                              (192)          469          314
Other Revenue                                         1,045           883          815
                                                 -------------------------------------
           Total Noninterest Revenue               $ 20,645       $15,906      $13,903
                                                 -------------------------------------
NONINTEREST EXPENSE
Salaries                                           $  9,049       $ 7,402      $ 7,028
Employee Benefits                                     1,485         1,469        1,436
Occupancy                                             1,190         1,123        1,100
Technology and Communications                         2,179         2,172        1,984
Professional Services                                 1,012         1,045          850
Amortization of Intangibles                             329           293          172
Restructuring Costs                                      23           887          192
Other Expense                                         2,728         2,562        2,398
                                                 -------------------------------------
           Total Noninterest Expense               $ 17,995       $16,953      $15,160
                                                 -------------------------------------
INCOME BEFORE INCOME TAX EXPENSE                   $ 11,489       $ 7,347      $ 8,064
Income Tax Expense                                    3,988         2,602        2,891
                                                 -------------------------------------
NET INCOME                                         $  7,501       $ 4,745      $ 5,173
                                                 -------------------------------------
NET INCOME APPLICABLE TO COMMON STOCK              $  7,395       $ 4,612      $ 4,955
                                                 -------------------------------------
NET INCOME PER COMMON SHARE:
      Basic                                        $   3.87       $  2.37      $  2.53
      Diluted                                          3.69          2.27         2.41
Average Common Shares Outstanding
      Basic                                         1,912.9       1,944.1      1,959.0
      Diluted                                       2,004.8       2,033.5      2,055.0
</TABLE>



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>y44093ex99-3.txt
<DESCRIPTION>UNAUDITED PRO FORMA COMBINED BALANCE SHEETS
<TEXT>

<PAGE>   1
EXHIBIT 99.3
J.P. MORGAN CHASE & CO.
UNAUDITED PRO FORMA COMBINED BALANCE SHEETS
(IN MILLIONS)


<TABLE>
<CAPTION>
                                                    At         At          At          At          At           At          At
                                                 Sept. 30,   June 30,   March 31,    Dec. 31,   Sept. 30,   June 30,    March 31,
                                                   2000       2000         2000        1999       1999        1999         1999
                                                -----------------------------------------------------------------------------------
<S>                                             <C>         <C>         <C>         <C>         <C>         <C>         <C>
ASSETS
Cash and Due from Banks                         $  20,284   $  20,859   $  18,159   $  18,692   $  18,099   $  18,131   $  19,756
Deposits With Banks                                 8,669       8,768       8,190      30,421       8,001       7,909       5,625
Federal Funds Sold and Securities Purchased
      Under Resale Agreements                      69,413      69,421      70,048      58,981      64,162      60,426      53,454
Securities Borrowed                                36,424      34,681      35,027      35,528      36,479      41,134      40,091
Trading Assets:
      Debt and Equity Instruments                 140,992     115,730     124,225     104,125      89,569     100,306      95,881
      Derivative Receivables                       67,028      68,728      78,258      76,736      74,133      65,506      79,906
Securities:
      Available-For-Sale                           70,650      70,331      71,253      74,911      78,253      74,800      87,403
      Held-To-Maturity                                632         719         822         888         975       1,092       1,316
Loans (Net of Allowance for Loan Losses)          214,496     203,611     198,870     199,270     195,017     200,240     195,082
Private Equity Investments                         11,502      12,102      11,742      10,389       8,432       7,378       6,225
Accrued Interest and Accounts Receivable           15,491      18,122      18,681      20,554      17,799      16,100      15,642
Premises and Equipment                              6,863       6,584       6,460       6,436       6,301       6,078       6,017
Goodwill and Other Intangibles                     15,678      10,012       9,858       9,632       8,320       7,241       6,901
Other Assets                                       29,375      22,700      24,453      20,440      20,323      19,921      17,029
                                                -----------------------------------------------------------------------------------
           TOTAL ASSETS                         $ 707,497   $ 662,368   $ 676,046   $ 667,003   $ 625,863   $ 626,262   $ 630,328
                                                ===================================================================================
LIABILITIES
Deposits:
      Domestic:
           Noninterest-Bearing                  $  48,059   $  50,582   $  49,914   $  50,366   $  50,572   $  51,096   $  48,221
           Interest-Bearing                        83,674      81,709      81,911      84,341      82,842      87,695      88,912
      Foreign:
           Noninterest-Bearing                      6,844       7,322       5,640       6,559       7,546       5,423       4,778
           Interest-Bearing                       131,208     131,303     121,530     145,798     127,486     120,623     122,534
                                                -----------------------------------------------------------------------------------
               Total Deposits                   $ 269,785   $ 270,916   $ 258,995   $ 287,064   $ 268,446   $ 264,837   $ 264,445
Federal Funds Purchased and Securities Sold
      Under Repurchase Agreements                 145,210     125,237     139,520     109,841     105,658     105,453     113,026
Commercial Paper                                   19,462      13,354      15,031      20,363      16,323      18,161      14,498
Other Borrowed Funds                               20,065      15,124      16,271      15,403      16,493      17,587      18,395
Trading Liabilities:
      Debt and Equity Instruments                  58,972      52,506      54,633      46,268      41,284      45,064      41,713
      Derivative Payables                          65,253      65,531      72,117      72,722      67,843      61,900      70,489
Accounts Payable, Accrued Expenses and Other
      Liabilities, Including the Allowance
      for Credit Losses                            37,225      34,298      33,820      34,196      29,183      29,350      24,480
Long-Term Debt                                     45,634      44,528      45,825      41,852      42,046      45,161      44,496
Guaranteed Preferred Beneficial Interests in
      Corporation's Junior Subordinated
      Deferrable Interest Debentures                3,939       3,689       3,688       3,688       3,688       3,688       3,338
                                                -----------------------------------------------------------------------------------
           TOTAL LIABILITIES                    $ 665,545   $ 625,183   $ 639,900   $ 631,397   $ 590,964   $ 591,201   $ 594,880
                                                -----------------------------------------------------------------------------------
PREFERRED STOCK OF SUBSIDIARY                   $     550   $     550   $     550   $     550   $     550   $     550   $     550
                                                -----------------------------------------------------------------------------------
STOCKHOLDERS' EQUITY
Preferred Stock                                 $   1,522   $   1,522   $   1,622   $   1,622   $   1,622   $   1,722   $   1,722
Common Stock                                        2,066       2,066       1,625       1,625       1,625       1,625       1,625
Capital Surplus                                    12,427      12,205      12,280      12,724      12,348      12,172      11,989
Retained Earnings                                  31,678      30,887      29,848      28,455      26,796      25,715      24,373
Accumulated Other Comprehensive (Loss) Income        (995)     (1,281)     (1,266)     (1,428)     (1,192)       (820)       (136)
Treasury Stock, At Cost                            (5,296)     (8,764)     (8,513)     (7,942)     (6,850)     (5,903)     (4,675)
                                                -----------------------------------------------------------------------------------
           TOTAL STOCKHOLDERS' EQUITY           $  41,402   $  36,635   $  35,596   $  35,056   $  34,349   $  34,511   $  34,898
                                                -----------------------------------------------------------------------------------
           TOTAL LIABILITIES, PREFERRED
           STOCK OF SUBSIDIARY AND
           STOCKHOLDERS' EQUITY                 $ 707,497   $ 662,368   $ 676,046   $ 667,003   $ 625,863   $ 626,262   $ 630,328
                                                ===================================================================================
</TABLE>


<TABLE>
<CAPTION>
                                                   At           At
                                                Dec. 31,     Dec. 31,
                                                  1998         1997
                                                -----------------------
<S>                                             <C>          <C>
ASSETS
Cash and Due from Banks                         $  18,271    $  17,462
Deposits With Banks                                 9,583        5,018
Federal Funds Sold and Securities Purchased
      Under Resale Agreements                      49,498       69,257
Securities Borrowed                                31,510       39,048
Trading Assets:
      Debt and Equity Instruments                  90,616      105,220
      Derivative Receivables                       80,972       79,027
Securities:
      Available-For-Sale                           99,035       72,523
      Held-To-Maturity                              1,687        2,983
Loans (Net of Allowance for Loan Losses)          194,227      195,862
Private Equity Investments                          6,156        1,085
Accrued Interest and Accounts Receivable           16,275       14,297
Premises and Equipment                              5,936        5,618
Goodwill and Other Intangibles                      6,601        4,269
Other Assets                                       16,575       16,011
                                                -----------------------
           TOTAL ASSETS                         $ 626,942    $ 627,680
                                                =======================
LIABILITIES
Deposits:
      Domestic:
           Noninterest-Bearing                  $  48,783    $  48,085
           Interest-Bearing                        93,610       80,808
      Foreign:
           Noninterest-Bearing                      4,645        3,949
           Interest-Bearing                       120,427      119,725
                                                -----------------------
               Total Deposits                   $ 267,465    $ 252,567
Federal Funds Purchased and Securities Sold
      Under Repurchase Agreements                 105,000      113,930
Commercial Paper                                   14,425       11,366
Other Borrowed Funds                               19,754       24,037
Trading Liabilities:
      Debt and Equity Instruments                  31,782       44,521
      Derivative Payables                          77,363       79,058
Accounts Payable, Accrued Expenses and Other
      Liabilities, Including the Allowance
      for Credit Losses                            28,372       29,239
Long-Term Debt                                     43,794       36,376
Guaranteed Preferred Beneficial Interests in
      Corporation's Junior Subordinated
      Deferrable Interest Debentures                3,338        2,890
                                                -----------------------
           TOTAL LIABILITIES                    $ 591,293    $ 593,984
                                                -----------------------
PREFERRED STOCK OF SUBSIDIARY                   $     550    $     550
                                                -----------------------
STOCKHOLDERS' EQUITY
Preferred Stock                                 $   1,722    $   2,434
Common Stock                                        1,625        1,184
Capital Surplus                                    12,307       12,642
Retained Earnings                                  23,158       20,501
Accumulated Other Comprehensive (Loss) Income         493          527
Treasury Stock, At Cost                            (4,206)      (4,142)
                                                -----------------------
           TOTAL STOCKHOLDERS' EQUITY           $  35,099    $  33,146
                                                -----------------------
           TOTAL LIABILITIES, PREFERRED
           STOCK OF SUBSIDIARY AND
           STOCKHOLDERS' EQUITY                 $ 626,942    $ 627,680
                                                =======================
</TABLE>




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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