Bank One, National Association

Chicago, IL · Cert 3618

FDIC

Q3 2004

$259.5BAssets

$159.7BLoans

$128.8BDeposits

$33.3BEquity

Loan mix

Deposit mix

Executive Summary

Earnings: ROA of 0.14%, down 79 bps year over year; NIM at 0.77%.
Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 0.24%.
Funding: loans stand at 123.96% of deposits as of Q3 2004.

Return on Assets (YTD, annualized)

0.14%-79 bps YoY

Net Interest Margin (YTD, annualized)

0.77%-158 bps YoY

Efficiency Ratio (YTD, annualized)

47.90%-1,143 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

Metric	Q4 2002	Q1 2003	Q2 2003	Q3 2003	Q4 2003	Q1 2004	Q2 2004	Q3 2004	YoY Δ	Trend
Earnings
Return on Assets	1.32%	0.97%	0.92%	0.93%	0.89%	1.27%	1.28%	0.14%	-79 bps
Return on Equity	17.65%	12.22%	11.79%	11.85%	11.62%	18.22%	18.41%	1.61%	-1,025 bps
Net Interest Margin	2.91%	2.52%	2.38%	2.35%	2.41%	2.00%	2.05%	0.77%	-158 bps
Efficiency Ratio	52.79%	55.95%	59.13%	59.33%	59.47%	59.62%	57.97%	47.90%	-1,143 bps
Non-Interest Burden	0.57%	0.52%	0.59%	0.58%	0.58%	0.37%	0.26%	0.09%	-49 bps
Growth
Asset Growth (YoY)	23.55%	28.86%	12.52%	-1.62%	10.00%	4.38%	-2.79%	12.00%	+1,363 bps
Loan Growth (YoY)	45.30%	28.87%	11.32%	-4.45%	15.67%	15.79%	16.78%	43.53%	+4,798 bps
Deposit Growth (YoY)	52.65%	67.12%	46.34%	12.94%	2.31%	5.45%	-1.01%	2.74%	-1,020 bps
Asset Quality
Nonperforming Loans / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Net Charge-Offs / Loans	1.43%	1.10%	1.02%	1.10%	1.00%	0.30%	0.31%	0.24%	-85 bps
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total Risk-Based Capital	13.45%	13.77%	13.45%	13.74%	13.71%	13.46%	12.75%	11.62%	-212 bps
Equity / Assets	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Liquidity & Funding
Loans / Deposits	98.26%	94.26%	87.21%	88.73%	111.09%	103.51%	102.88%	123.96%	+3,523 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a