Gold Banc Reports First Quarter 2001 Earnings Of $0.16 Per Share Reaffirms Financial Performance Targets

Apr 18, 2001, 01:00 ET from Gold Banc Corporation, Inc.

    LEAWOOD, Kan., April 18 /PRNewswire/ -- Gold Banc (Nasdaq: GLDB) today
 announced earnings of $6.0 million, or $0.16 per share for the first quarter
 of 2001. This compares to earnings prior to non-recurring charges of
 $5.6 million, or $0.15 for the fourth quarter of 2000.
     "We are very pleased to begin the new year on such a positive note and
 with good momentum," said Michael W. Gullion, chairman and chief executive
 officer of Gold Banc.  "The actions we initiated during the second half of
 2000 continue to have a positive effect for our stockholders."
     The current quarter results compared favorably to the first quarter of
 2000.  Results for the first quarter of 2000 showed a loss of $(0.8) million,
 or $(0.02) per share.  Adjusted for non-recurring charges of $7.9 million net
 of taxes, earnings would have been $7.1 million or $0.19 per share for the
 first quarter of 2000.  All amounts related to the 2000 time period in this
 release have been restated to reflect the effects of the three pooling of
 interest acquisitions completed in the first quarter of 2000.
     At March 31, 2001, total assets were $2.7 billion, total loans were
 $1.9 billion and total deposits were $2.1 billion.  Net interest margin was
 3.68 percent for the quarter, compared to 3.85 percent for the fourth quarter
 of 2000.  Non-performing loans decreased 8.9 percent or $1.8 million to
 $18.9 million compared to $20.7 million at December 31, 2000.  Non-performing
 loans were .99 percent of total loans at the end of the first quarter compared
 to 1.06 percent at the end of 2000.  The allowance for possible loan losses
 was 1.31 percent of total loans and 133 percent of non-performing loans at
 quarter-end.
     Gold Banc has reaffirmed its financial performance targets for the three-
 year period through 2003.  They are:
 
     -- Double digit earnings per share annual growth;
     -- Return on equity of 15 to 20 percent;
     -- Return on assets of 1.35 percent;
     -- Efficiency ratio below 50%.
 
     "We expect to achieve the street's EPS growth and return on equity targets
 for 2001" said Mr. Gullion. "We expect to achieve the return on assets and
 efficiency ratio targets within a 24 to 36 month time frame."
     On March 7, 2001, the Company announced it was commencing a common stock
 repurchase program whereby the Company may acquire up to 1,839,000 shares of
 the Company's common stock, or approximately 5% of the shares currently
 outstanding. "This repurchase plan is an effective use of our financial
 resources that we believe will enhance shareholder value," commented Gullion.
     Gold Banc is a $2.7 billion financial Services Company headquartered in
 Leawood, Kansas, a part of the Kansas City metropolitan area. Gold Banc
 provides a full array of community banking and financial services solutions to
 customers in four states and 41 communities through 61 financial services
 locations, telephone banking, an ATM network and Internet banking via its
 www.goldbank.com Web site.
 
 
     Safe Harbor Statement: This news release contains comments of information
 that constitute forward-looking statements (within the meaning of the Private
 Securities Litigation Reform Act of 1995), which involve significant risks and
 uncertainties. Actual results may differ materially from the results discussed
 in the forward-looking statements. Factors that might cause such a difference
 include, but are not limited to: (1) expected cost savings from acquisitions
 may not be fully realized or realized within the expected time frame; (2)
 revenues following the acquisitions are lower than expected; (3) competitive
 pressures among depository institutions increase significantly; (4) costs or
 difficulties related to the integration of the business of the organizations
 are greater than expected; (5) changes in the interest rate environment reduce
 interest margins; (6) general economic conditions, either nationally or in
 states in which the combined company will be doing business, are less
 favorable than expected; and (7) legislation or regulatory changes adversely
 affect the businesses in which the combined company would be engaged.
 
     CONTACT:  Michael W. Gullion, Chairman and CEO,
 MikeGullion@goldbanc.com , or Malcolm M. Aslin, President,
 MickAslin@goldbanc.com , or Rick Tremblay, Chief Financial Officer,
 RickTremblay@goldbanc.com , 913-451-8050, all of Gold Banc
 
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                           Consolidated Balance Sheet
                                 (In thousands)
                                  (unaudited)
 
 
 
                                                March 31, 2001 Dec. 31, 2000
           Assets
 
     Cash and due from banks                         $122,191        $82,423
     Federal funds sold and
       interest-bearing deposits                       28,036         36,468
       Total cash and cash equivalents                150,227        118,891
 
     Investment securities:
       Available-for-sale                             506,968        518,323
       Held-to-maturity                                 3,214          4,393
       Trading                                          2,542          3,265
       Total investment securities                    512,724        525,981
 
     Mortgage and student loans held
       for sale, net                                   66,558        134,081
     Loans, net                                     1,819,004      1,785,907
     Premises and equipment, net                       59,721         60,626
     Goodwill, net                                     34,382         33,376
     Accrued interest and other assets                 51,766         58,736
     Total assets                                  $2,694,382     $2,717,598
 
 
       Liabilities and Stockholders' Equity
 
     Liabilities:
       Deposits                                    $2,101,532     $2,133,877
       Securities sold under agreements
         to repurchase                                 49,438         78,975
       Federal funds purchased and other
         short-term borrowings                         90,337         24,654
       Guaranteed preferred beneficial interests
         in Company's debentures                       81,749         82,549
       Long-term debt                                 174,063        200,561
       Accrued interest and other liabilities          27,450         27,736
       Total liabilities                            2,524,569      2,548,352
 
 
     Stockholders' equity:
       Preferred stock, no par value; 50,000,000 shares
         authorized, no shares issued                       -              -
       Common stock, $1.00 par value,
         50,000,000 shares authorized
       38,322,788 issued and outstanding
           at March 31, 2001 and                       38,323         38,286
         38,285,900 issued and
           outstanding at Dec. 31, 2000
       Additional paid-in capital                      75,696         75,523
       Retained earnings                               69,433         64,198
       Accumulated other comprehensive
         income, net                                    1,355            836
       Unearned compensation                           (3,802)        (3,802)
                                                      181,005        175,041
       Less treasury stock - 1,674,400 shares
         at March 31, 2001
         and 800,000 shares at Dec. 31, 2000          (11,192)        (5,795)
       Total stockholders' equity                     169,813        169,246
 
 
     Total liabilities and stockholders' equity    $2,694,382     $2,717,598
 
                    GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                      Consolidated Statements of Earnings
                           For the Three Months ended
                     (In thousands, except per share data)
                                  (unaudited)
 
 
 
                                               March 31, 2001   March 31, 2000
 
     Interest Income:
       Loans, including fees                          $44,144       $ 42,135
       Investment securities                            7,131          6,968
       Other                                            1,711          1,203
                                                       52,986         50,306
 
     Interest Expense:
       Deposits                                        24,324         20,676
       Borrowings and other                             6,403          5,413
                                                       30,727         26,089
 
         Net interest income                           22,259         24,217
 
 
     Provision for loan losses                          2,545            661
     Net interest income after provision for
       loan losses                                     19,714         23,556
 
     Other income:
       Service fees                                     2,595          2,929
       Net gains on sale of mortgage loans                870          1,777
       Net securities gains (losses)                      979            (30)
       Investment trading fees and commissions          1,467            615
       Other                                            4,101          3,013
                                                       10,012          8,304
 
     Other expense:
       Salaries and employee benefits                  10,605         10,967
       Net occupancy expense                            1,464          2,170
       Depreciation expense                             1,548          1,325
       Goodwill amortization expense                      530            534
       Consolidation/repositioning/pooling expense          -         10,849
       Other                                            6,275          6,679
                                                       20,422         32,524
 
         Earnings (loss) before income taxes            9,304          (664)
 
     Income tax expense                                 3,334            121
 
       Net earnings (loss)                             $5,970         $(785)
 
     Net earnings (loss) per share-basic and diluted     $.16         $(.02)
 
 
 
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                                   Key Ratios
                      March 31, 2001 and December 31, 2000
 
 
 
 
                                                 March 31, 2001  Dec. 31, 2000
 
     Balance Sheet Ratios:
 
     Total shares outstanding                          36,649         37,486
     Book value per share                               $4.63          $4.51
     Tangible book value per share                      $3.70          $3.62
 
     Leverage ratio                                    7.13 %         7.16 %
     Tier 1 risk-based capital ratio                   9.54 %         8.92 %
     Total risk-based capital ratio                   12.12 %        11.41 %
 
     Non-performing loans (NPL)                        18,881         20,722
     NPL / Loans                                       0.99 %         1.06 %
     Allowance / NPL                                 132.86 %       126.35 %
     Allowance / Loans                                 1.31 %         1.35 %
 
     Non-performing assets (NPA)                       22,526         24,436
     NPA / Assets                                      0.84 %         0.90 %
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                                   Key Ratios
                       March 31, 2001 and March 31, 2000
 
 
                                                 March 31, 2001 March 31, 2000
 
     Income Statement Ratios:
 
     Average shares outstanding                        36,774         37,880
 
     Net income (loss) per share:
 
     Before one-time charge                             $0.16          $0.19
     After one-time charge                              $0.16         ($0.02)
 
     Ratios before one-time charge:
 
     Return on average assets                          0.90 %         1.11 %
     Return on average equity                         14.36 %        16.25 %
 
     Ratios after one-time charge:
 
     Return on average assets                          0.90 %       - 0.12 %
     Return on average equity                         14.36 %       - 1.80 %
 
     Net interest margin                               3.68 %         4.27 %
     Non-interest income / Net interest income        44.98 %        34.29 %
     Efficiency ratio                                 73.30 %        71.83 %
 
     Net loans charged off                              3,640             87
     Net charge offs to loans                          0.19 %         0.00 %
 
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
 
                                       QTR. END   QTR. END   QTR. END QTR. END
                                    03/31/1999 06/30/1999 09/30/1999 12/31/1999
 
 
     Interest income -
     Loans, including fees               $34,723   $36,515    $36,811  $38,349
     Investments                           6,075     6,263      6,821    7,301
     Other                                 1,250     1,194        879      561
                                          42,048    43,972     44,511   46,211
 
     Interest expense -
     Deposits                             17,887    17,870     18,464   19,460
     Borrowings and other                  3,191     3,914      3,838    4,129
                                          21,078    21,784     22,302   23,589
 
     Net interest income                  20,970    22,188     22,209   22,622
     Provision for loan losses             1,145     1,459      1,127    1,205
 
     Net Interest income after provision
      for loan losses                     19,825    20,729     21,082   21,417
 
     Other income -
     Service charges                       2,418     2,656      2,837    2,943
     Net gain on sale of mortgage loans      299       606        268      363
     Gain(Loss) on sale of securities        237        34         (2)      (5)
     Gain(Loss) on sale of other assets      (11)      (51)         9      (35)
     Unrealized gain(loss) on trading
      assets                                 (37)      (21)        36      (15)
     Investment trading fees & commissions   976       868        712      737
     Other                                 2,141     2,618      2,509    2,407
                                           6,023     6,710      6,369    6,395
 
     Other expense -
     Salaries and employee benefits        8,769     9,543      9,631   10,293
     Occupancy expense                     1,814     2,059      1,946    2,024
     Depreciation expense                  1,295     1,311      1,272    1,197
     Goodwill amortization expense           394       445        423      438
     Other                                 5,171     5,231      4,714    5,698
                                          17,443    18,589     17,986   19,650
 
     Earnings before income taxes and one-
      time charges                         8,405     8,850      9,465    8,162
     Income taxes                          3,058     3,110      3,163    2,932
 
     Earnings before one-time charges      5,347     5,740      6,302    5,230
 
     Less: investment portfolio restructure
      - net of taxes                           -         -          -      423
     Less: acquisition's loan loss provision
      - net of taxes                           -         -          -    4,097
     Less: operations of Gold Mortgage -
      net of taxes                             -         -         86     (115)
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes                  -         -          -    3,353
 
     Net earnings                         $5,347    $5,740     $6,216  $(2,528)
 
     EPS - Earnings before
      one-time charges                     $0.14     $0.15      $0.17    $0.14
     EPS - Net earnings                    $0.14     $0.15      $0.17   $(0.07)
     Weighted average common shares
      outstanding                         37,523    37,519     37,515   37,489
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
                                       YTD     QTR. END   QTR. END  QTR. END
                                   03/31/2000  06/30/2000 09/30/2000 12/31/1999
 
     Interest income -
     Loans, including fees            $146,398   $41,235    $42,365    $43,817
     Investments                        26,460     6,968      7,383      7,205
     Other                               3,884       629        609        987
                                       176,742    48,832     50,357     52,009
 
     Interest expense -
     Deposits                           73,681    20,676     21,059     23,148
     Borrowings and other               15,072     3,986      6,008      5,607
                                        88,753    24,662     27,067     28,755
 
     Net interest income                87,989    24,170     23,290     23,254
     Provision for loan losses           4,936       661      1,014        978
 
     Net Interest income after
      provision for loan losses         83,053    23,509     22,276     22,276
 
     Other income -
     Service charges                    10,854     2,929      2,570      2,580
     Net gain on sale of mortgage loans  1,536        90         75         85
     Gain(Loss) on sale of securities      264       (30)       234         15
     Gain(Loss) on sale of other assets    (88)      (62)       100       (106)
     Unrealized gain(loss) on trading
      assets                               (37)        -          -        (49)
     Investment trading fees
      & commissions                      3,293       615        653        852
     Other                               9,675     2,618      2,810      2,696
                                        25,497     6,160      6,442      6,073
 
     Other expense -
     Salaries and employee benefits     38,236     9,826      9,692      9,825
     Occupancy expense                   7,843     1,999      1,929      1,905
     Depreciation expense                5,075     1,426      1,514      1,477
     Goodwill amortization expense       1,700       462        500        467
     Other                              20,814     5,763      5,314      6,195
                                        73,668    19,476     18,949     19,869
 
     Earnings before income taxes
      and one-time charges              34,882    10,193      9,769      8,480
     Income taxes                       12,263     3,044      3,569      2,904
 
     Earnings before one-time charges   22,619     7,149      6,200      5,576
 
     Less: investment portfolio
      restructure - net of taxes           423         -          -      1,367
     Less: acquisition's loan loss
      provision - net of taxes           4,097         -          -          -
     Less: operations of Gold Mortgage -
      net of taxes                         (29)       81        195        932
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes            3,353     7,853       (398)      (312)
 
     Net earnings                      $14,775     $(785)    $6,403     $3,589
 
     EPS - Earnings before one-time
      charges                            $0.60     $0.19      $0.16      $0.15
     EPS - Net earnings                  $0.39    $(0.02)     $0.17      $0.10
     Weighted average common shares
      outstanding                       37,529    37,930     37,769     37,494
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
                                             QTR. END      YTD      QTR. END
                                            12/31/2000  12/31/2000 03/31/2000
 
     Interest income -
     Loans, including fees                    $44,393    $171,810    $44,144
     Investments                                7,616      29,172      7,131
     Other                                      1,281       3,506      1,711
                                               53,290     204,488     52,986
 
     Interest expense -
     Deposits                                  24,344      89,227     24,324
     Borrowings and other                       6,229      21,830      6,403
                                               30,573     111,057     30,727
 
     Net interest income                       22,717      93,431     22,259
     Provision for loan losses                  2,020       4,673      2,545
 
     Net Interest income after provision
      for loan losses                          20,697      88,758     19,714
 
     Other income -
     Service charges                            2,723      10,802      2,595
     Net gain on sale of mortgage loans            51         301        870
     Gain(Loss) on sale of securities             (43)        176        979
     Gain(Loss) on sale of other assets          (448)       (516)         -
     Unrealized gain(loss) on trading
      assets                                        -         (49)         -
     Investment trading fees & commissions        577       2,697      1,467
     Other                                      2,163      10,287      4,101
                                                5,023      23,698     10,012
 
     Other expense -
     Salaries and employee benefits            10,231      39,574     10,605
     Occupancy expense                          1,809       7,642      1,464
     Depreciation expense                       1,571       5,988      1,548
     Goodwill amortization expense                487       1,916        530
     Other                                      4,826      22,098      6,275
                                               18,924      77,218     20,422
 
     Earnings before income taxes and one-
      time charges                              6,796      35,238      9,304
     Income taxes                               1,200      10,717      3,334
 
     Earnings before one-time charges           5,596      24,521      5,970
 
     Less: investment portfolio
      restructure - net of taxes                    -       1,367          -
     Less: acquisition's loan loss
      provision - net of taxes                      -           -          -
     Less: operations of Gold Mortgage -
      net of taxes                             17,633      18,841          -
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes                   1,624       8,767          -
 
     Net earnings                            $(13,661)    $(4,454)    $5,970
 
     EPS - Earnings before one-time
      charges                                   $0.15       $0.65      $0.16
     EPS - Net earnings                        $(0.36)     $(0.12)     $0.16
     Weighted average common shares
      outstanding                              37,550      37,653     36,774
 
 
 
 

SOURCE Gold Banc Corporation, Inc.
    LEAWOOD, Kan., April 18 /PRNewswire/ -- Gold Banc (Nasdaq: GLDB) today
 announced earnings of $6.0 million, or $0.16 per share for the first quarter
 of 2001. This compares to earnings prior to non-recurring charges of
 $5.6 million, or $0.15 for the fourth quarter of 2000.
     "We are very pleased to begin the new year on such a positive note and
 with good momentum," said Michael W. Gullion, chairman and chief executive
 officer of Gold Banc.  "The actions we initiated during the second half of
 2000 continue to have a positive effect for our stockholders."
     The current quarter results compared favorably to the first quarter of
 2000.  Results for the first quarter of 2000 showed a loss of $(0.8) million,
 or $(0.02) per share.  Adjusted for non-recurring charges of $7.9 million net
 of taxes, earnings would have been $7.1 million or $0.19 per share for the
 first quarter of 2000.  All amounts related to the 2000 time period in this
 release have been restated to reflect the effects of the three pooling of
 interest acquisitions completed in the first quarter of 2000.
     At March 31, 2001, total assets were $2.7 billion, total loans were
 $1.9 billion and total deposits were $2.1 billion.  Net interest margin was
 3.68 percent for the quarter, compared to 3.85 percent for the fourth quarter
 of 2000.  Non-performing loans decreased 8.9 percent or $1.8 million to
 $18.9 million compared to $20.7 million at December 31, 2000.  Non-performing
 loans were .99 percent of total loans at the end of the first quarter compared
 to 1.06 percent at the end of 2000.  The allowance for possible loan losses
 was 1.31 percent of total loans and 133 percent of non-performing loans at
 quarter-end.
     Gold Banc has reaffirmed its financial performance targets for the three-
 year period through 2003.  They are:
 
     -- Double digit earnings per share annual growth;
     -- Return on equity of 15 to 20 percent;
     -- Return on assets of 1.35 percent;
     -- Efficiency ratio below 50%.
 
     "We expect to achieve the street's EPS growth and return on equity targets
 for 2001" said Mr. Gullion. "We expect to achieve the return on assets and
 efficiency ratio targets within a 24 to 36 month time frame."
     On March 7, 2001, the Company announced it was commencing a common stock
 repurchase program whereby the Company may acquire up to 1,839,000 shares of
 the Company's common stock, or approximately 5% of the shares currently
 outstanding. "This repurchase plan is an effective use of our financial
 resources that we believe will enhance shareholder value," commented Gullion.
     Gold Banc is a $2.7 billion financial Services Company headquartered in
 Leawood, Kansas, a part of the Kansas City metropolitan area. Gold Banc
 provides a full array of community banking and financial services solutions to
 customers in four states and 41 communities through 61 financial services
 locations, telephone banking, an ATM network and Internet banking via its
 www.goldbank.com Web site.
 
 
     Safe Harbor Statement: This news release contains comments of information
 that constitute forward-looking statements (within the meaning of the Private
 Securities Litigation Reform Act of 1995), which involve significant risks and
 uncertainties. Actual results may differ materially from the results discussed
 in the forward-looking statements. Factors that might cause such a difference
 include, but are not limited to: (1) expected cost savings from acquisitions
 may not be fully realized or realized within the expected time frame; (2)
 revenues following the acquisitions are lower than expected; (3) competitive
 pressures among depository institutions increase significantly; (4) costs or
 difficulties related to the integration of the business of the organizations
 are greater than expected; (5) changes in the interest rate environment reduce
 interest margins; (6) general economic conditions, either nationally or in
 states in which the combined company will be doing business, are less
 favorable than expected; and (7) legislation or regulatory changes adversely
 affect the businesses in which the combined company would be engaged.
 
     CONTACT:  Michael W. Gullion, Chairman and CEO,
 MikeGullion@goldbanc.com , or Malcolm M. Aslin, President,
 MickAslin@goldbanc.com , or Rick Tremblay, Chief Financial Officer,
 RickTremblay@goldbanc.com , 913-451-8050, all of Gold Banc
 
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                           Consolidated Balance Sheet
                                 (In thousands)
                                  (unaudited)
 
 
 
                                                March 31, 2001 Dec. 31, 2000
           Assets
 
     Cash and due from banks                         $122,191        $82,423
     Federal funds sold and
       interest-bearing deposits                       28,036         36,468
       Total cash and cash equivalents                150,227        118,891
 
     Investment securities:
       Available-for-sale                             506,968        518,323
       Held-to-maturity                                 3,214          4,393
       Trading                                          2,542          3,265
       Total investment securities                    512,724        525,981
 
     Mortgage and student loans held
       for sale, net                                   66,558        134,081
     Loans, net                                     1,819,004      1,785,907
     Premises and equipment, net                       59,721         60,626
     Goodwill, net                                     34,382         33,376
     Accrued interest and other assets                 51,766         58,736
     Total assets                                  $2,694,382     $2,717,598
 
 
       Liabilities and Stockholders' Equity
 
     Liabilities:
       Deposits                                    $2,101,532     $2,133,877
       Securities sold under agreements
         to repurchase                                 49,438         78,975
       Federal funds purchased and other
         short-term borrowings                         90,337         24,654
       Guaranteed preferred beneficial interests
         in Company's debentures                       81,749         82,549
       Long-term debt                                 174,063        200,561
       Accrued interest and other liabilities          27,450         27,736
       Total liabilities                            2,524,569      2,548,352
 
 
     Stockholders' equity:
       Preferred stock, no par value; 50,000,000 shares
         authorized, no shares issued                       -              -
       Common stock, $1.00 par value,
         50,000,000 shares authorized
       38,322,788 issued and outstanding
           at March 31, 2001 and                       38,323         38,286
         38,285,900 issued and
           outstanding at Dec. 31, 2000
       Additional paid-in capital                      75,696         75,523
       Retained earnings                               69,433         64,198
       Accumulated other comprehensive
         income, net                                    1,355            836
       Unearned compensation                           (3,802)        (3,802)
                                                      181,005        175,041
       Less treasury stock - 1,674,400 shares
         at March 31, 2001
         and 800,000 shares at Dec. 31, 2000          (11,192)        (5,795)
       Total stockholders' equity                     169,813        169,246
 
 
     Total liabilities and stockholders' equity    $2,694,382     $2,717,598
 
                    GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                      Consolidated Statements of Earnings
                           For the Three Months ended
                     (In thousands, except per share data)
                                  (unaudited)
 
 
 
                                               March 31, 2001   March 31, 2000
 
     Interest Income:
       Loans, including fees                          $44,144       $ 42,135
       Investment securities                            7,131          6,968
       Other                                            1,711          1,203
                                                       52,986         50,306
 
     Interest Expense:
       Deposits                                        24,324         20,676
       Borrowings and other                             6,403          5,413
                                                       30,727         26,089
 
         Net interest income                           22,259         24,217
 
 
     Provision for loan losses                          2,545            661
     Net interest income after provision for
       loan losses                                     19,714         23,556
 
     Other income:
       Service fees                                     2,595          2,929
       Net gains on sale of mortgage loans                870          1,777
       Net securities gains (losses)                      979            (30)
       Investment trading fees and commissions          1,467            615
       Other                                            4,101          3,013
                                                       10,012          8,304
 
     Other expense:
       Salaries and employee benefits                  10,605         10,967
       Net occupancy expense                            1,464          2,170
       Depreciation expense                             1,548          1,325
       Goodwill amortization expense                      530            534
       Consolidation/repositioning/pooling expense          -         10,849
       Other                                            6,275          6,679
                                                       20,422         32,524
 
         Earnings (loss) before income taxes            9,304          (664)
 
     Income tax expense                                 3,334            121
 
       Net earnings (loss)                             $5,970         $(785)
 
     Net earnings (loss) per share-basic and diluted     $.16         $(.02)
 
 
 
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                                   Key Ratios
                      March 31, 2001 and December 31, 2000
 
 
 
 
                                                 March 31, 2001  Dec. 31, 2000
 
     Balance Sheet Ratios:
 
     Total shares outstanding                          36,649         37,486
     Book value per share                               $4.63          $4.51
     Tangible book value per share                      $3.70          $3.62
 
     Leverage ratio                                    7.13 %         7.16 %
     Tier 1 risk-based capital ratio                   9.54 %         8.92 %
     Total risk-based capital ratio                   12.12 %        11.41 %
 
     Non-performing loans (NPL)                        18,881         20,722
     NPL / Loans                                       0.99 %         1.06 %
     Allowance / NPL                                 132.86 %       126.35 %
     Allowance / Loans                                 1.31 %         1.35 %
 
     Non-performing assets (NPA)                       22,526         24,436
     NPA / Assets                                      0.84 %         0.90 %
 
                  GOLD BANC CORPORATION, INC. AND SUBSIDIARIES
                                   Key Ratios
                       March 31, 2001 and March 31, 2000
 
 
                                                 March 31, 2001 March 31, 2000
 
     Income Statement Ratios:
 
     Average shares outstanding                        36,774         37,880
 
     Net income (loss) per share:
 
     Before one-time charge                             $0.16          $0.19
     After one-time charge                              $0.16         ($0.02)
 
     Ratios before one-time charge:
 
     Return on average assets                          0.90 %         1.11 %
     Return on average equity                         14.36 %        16.25 %
 
     Ratios after one-time charge:
 
     Return on average assets                          0.90 %       - 0.12 %
     Return on average equity                         14.36 %       - 1.80 %
 
     Net interest margin                               3.68 %         4.27 %
     Non-interest income / Net interest income        44.98 %        34.29 %
     Efficiency ratio                                 73.30 %        71.83 %
 
     Net loans charged off                              3,640             87
     Net charge offs to loans                          0.19 %         0.00 %
 
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
 
                                       QTR. END   QTR. END   QTR. END QTR. END
                                    03/31/1999 06/30/1999 09/30/1999 12/31/1999
 
 
     Interest income -
     Loans, including fees               $34,723   $36,515    $36,811  $38,349
     Investments                           6,075     6,263      6,821    7,301
     Other                                 1,250     1,194        879      561
                                          42,048    43,972     44,511   46,211
 
     Interest expense -
     Deposits                             17,887    17,870     18,464   19,460
     Borrowings and other                  3,191     3,914      3,838    4,129
                                          21,078    21,784     22,302   23,589
 
     Net interest income                  20,970    22,188     22,209   22,622
     Provision for loan losses             1,145     1,459      1,127    1,205
 
     Net Interest income after provision
      for loan losses                     19,825    20,729     21,082   21,417
 
     Other income -
     Service charges                       2,418     2,656      2,837    2,943
     Net gain on sale of mortgage loans      299       606        268      363
     Gain(Loss) on sale of securities        237        34         (2)      (5)
     Gain(Loss) on sale of other assets      (11)      (51)         9      (35)
     Unrealized gain(loss) on trading
      assets                                 (37)      (21)        36      (15)
     Investment trading fees & commissions   976       868        712      737
     Other                                 2,141     2,618      2,509    2,407
                                           6,023     6,710      6,369    6,395
 
     Other expense -
     Salaries and employee benefits        8,769     9,543      9,631   10,293
     Occupancy expense                     1,814     2,059      1,946    2,024
     Depreciation expense                  1,295     1,311      1,272    1,197
     Goodwill amortization expense           394       445        423      438
     Other                                 5,171     5,231      4,714    5,698
                                          17,443    18,589     17,986   19,650
 
     Earnings before income taxes and one-
      time charges                         8,405     8,850      9,465    8,162
     Income taxes                          3,058     3,110      3,163    2,932
 
     Earnings before one-time charges      5,347     5,740      6,302    5,230
 
     Less: investment portfolio restructure
      - net of taxes                           -         -          -      423
     Less: acquisition's loan loss provision
      - net of taxes                           -         -          -    4,097
     Less: operations of Gold Mortgage -
      net of taxes                             -         -         86     (115)
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes                  -         -          -    3,353
 
     Net earnings                         $5,347    $5,740     $6,216  $(2,528)
 
     EPS - Earnings before
      one-time charges                     $0.14     $0.15      $0.17    $0.14
     EPS - Net earnings                    $0.14     $0.15      $0.17   $(0.07)
     Weighted average common shares
      outstanding                         37,523    37,519     37,515   37,489
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
                                       YTD     QTR. END   QTR. END  QTR. END
                                   03/31/2000  06/30/2000 09/30/2000 12/31/1999
 
     Interest income -
     Loans, including fees            $146,398   $41,235    $42,365    $43,817
     Investments                        26,460     6,968      7,383      7,205
     Other                               3,884       629        609        987
                                       176,742    48,832     50,357     52,009
 
     Interest expense -
     Deposits                           73,681    20,676     21,059     23,148
     Borrowings and other               15,072     3,986      6,008      5,607
                                        88,753    24,662     27,067     28,755
 
     Net interest income                87,989    24,170     23,290     23,254
     Provision for loan losses           4,936       661      1,014        978
 
     Net Interest income after
      provision for loan losses         83,053    23,509     22,276     22,276
 
     Other income -
     Service charges                    10,854     2,929      2,570      2,580
     Net gain on sale of mortgage loans  1,536        90         75         85
     Gain(Loss) on sale of securities      264       (30)       234         15
     Gain(Loss) on sale of other assets    (88)      (62)       100       (106)
     Unrealized gain(loss) on trading
      assets                               (37)        -          -        (49)
     Investment trading fees
      & commissions                      3,293       615        653        852
     Other                               9,675     2,618      2,810      2,696
                                        25,497     6,160      6,442      6,073
 
     Other expense -
     Salaries and employee benefits     38,236     9,826      9,692      9,825
     Occupancy expense                   7,843     1,999      1,929      1,905
     Depreciation expense                5,075     1,426      1,514      1,477
     Goodwill amortization expense       1,700       462        500        467
     Other                              20,814     5,763      5,314      6,195
                                        73,668    19,476     18,949     19,869
 
     Earnings before income taxes
      and one-time charges              34,882    10,193      9,769      8,480
     Income taxes                       12,263     3,044      3,569      2,904
 
     Earnings before one-time charges   22,619     7,149      6,200      5,576
 
     Less: investment portfolio
      restructure - net of taxes           423         -          -      1,367
     Less: acquisition's loan loss
      provision - net of taxes           4,097         -          -          -
     Less: operations of Gold Mortgage -
      net of taxes                         (29)       81        195        932
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes            3,353     7,853       (398)      (312)
 
     Net earnings                      $14,775     $(785)    $6,403     $3,589
 
     EPS - Earnings before one-time
      charges                            $0.60     $0.19      $0.16      $0.15
     EPS - Net earnings                  $0.39    $(0.02)     $0.17      $0.10
     Weighted average common shares
      outstanding                       37,529    37,930     37,769     37,494
 
 
     GOLD BANC CORP.
     INCOME STATEMENTS - RESTATED w/o Mortgage Company
     (In thousands, except per share data)
                                             QTR. END      YTD      QTR. END
                                            12/31/2000  12/31/2000 03/31/2000
 
     Interest income -
     Loans, including fees                    $44,393    $171,810    $44,144
     Investments                                7,616      29,172      7,131
     Other                                      1,281       3,506      1,711
                                               53,290     204,488     52,986
 
     Interest expense -
     Deposits                                  24,344      89,227     24,324
     Borrowings and other                       6,229      21,830      6,403
                                               30,573     111,057     30,727
 
     Net interest income                       22,717      93,431     22,259
     Provision for loan losses                  2,020       4,673      2,545
 
     Net Interest income after provision
      for loan losses                          20,697      88,758     19,714
 
     Other income -
     Service charges                            2,723      10,802      2,595
     Net gain on sale of mortgage loans            51         301        870
     Gain(Loss) on sale of securities             (43)        176        979
     Gain(Loss) on sale of other assets          (448)       (516)         -
     Unrealized gain(loss) on trading
      assets                                        -         (49)         -
     Investment trading fees & commissions        577       2,697      1,467
     Other                                      2,163      10,287      4,101
                                                5,023      23,698     10,012
 
     Other expense -
     Salaries and employee benefits            10,231      39,574     10,605
     Occupancy expense                          1,809       7,642      1,464
     Depreciation expense                       1,571       5,988      1,548
     Goodwill amortization expense                487       1,916        530
     Other                                      4,826      22,098      6,275
                                               18,924      77,218     20,422
 
     Earnings before income taxes and one-
      time charges                              6,796      35,238      9,304
     Income taxes                               1,200      10,717      3,334
 
     Earnings before one-time charges           5,596      24,521      5,970
 
     Less: investment portfolio
      restructure - net of taxes                    -       1,367          -
     Less: acquisition's loan loss
      provision - net of taxes                      -           -          -
     Less: operations of Gold Mortgage -
      net of taxes                             17,633      18,841          -
     Less:
      consolidation/repositioning/pooling
       expense - net of taxes                   1,624       8,767          -
 
     Net earnings                            $(13,661)    $(4,454)    $5,970
 
     EPS - Earnings before one-time
      charges                                   $0.15       $0.65      $0.16
     EPS - Net earnings                        $(0.36)     $(0.12)     $0.16
     Weighted average common shares
      outstanding                              37,550      37,653     36,774
 
 
 
 SOURCE  Gold Banc Corporation, Inc.