
As of Second Quarter 2012	Banking/ Treasury			Insurance
Discount rate used in income approach		14	%		11	%
Public company method market multiplier (1)		1.0	x		15.6	x
Transaction method market multiplier (2)		1.4	x		n/a

(1)

For the Banking/Treasury reporting unit, this multiplier is applied to tangible book value. For the Insurance reporting unit, this multiplier is applied to the last twelve months of net income. In addition to the multipliers, a 30 percent control premium is assumed for both the Banking/Treasury and Insurance reporting units.

(2)	For the Banking/Treasury reporting unit, this multiplier is applied to tangible book value.


As of Fourth Quarter 2011	Banking/ Treasury			Investment Banking/ Brokerage/Trust			Insurance
Discount rate used in income approach		15	%		15	%		11	%
Public company method market multiplier (1)		0.7	x		1.4	x		13.0	x
Transaction method market multiplier (2)		1.1	x		1.5	x		n/a

(1)

For the Banking/Treasury and Investment Banking/Brokerage/Trust reporting units, these multipliers are applied to tangible book value. For the Insurance reporting unit, this multiplier is applied to the last twelve months of net income. In addition to the multipliers, a 55 percent control premium is assumed for the Banking/Treasury reporting unit. A 20 percent control premium is assumed for the Investment Banking/Brokerage/Trust reporting unit and a 30 percent control premium is assumed for the Insurance reporting unit.

(2)	For the Banking/Treasury and Investment Banking/Brokerage/Trust reporting units, these multipliers are applied to tangible book value.