UnionBanCal Corporation Announces Fourth Quarter Results.

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UnionBanCal Corporation Announces Fourth Quarter Results.

SAN FRANCISCO -- UnionBanCal Corporation (NYSE:UB):

Fourth Quarter 2007 Highlights:

* Strong year-over-year organic loan growth across all major categories

[TABLE OMITTED] * Average noninterest bearing deposits comprised 30.6 percent of average total deposits

* Healthy growth in net interest income

[TABLE OMITTED] * Net interest margin of 3.51 percent, up 2 basis points over prior quarter

* Provision for loan losses of $56 million reflects significant increase in reserves against homebuilder portfolio

* Credit quality overall remains strong

[TABLE OMITTED] * Noninterest expense includes a $0.05 per share charge for the Company's proportionate share of Visa litigation costs

* Recognized a $61 million after-tax gain on the sale of retirement recordkeeping business

2007 Highlights:

* Revenue from continuing operations of $2.6 billion

* Income from continuing operations of $570 million

* Strong organic loan growth, with average total loans up 10.4 percent

* Strong year-end capital levels, with tangible common equity ratio at 7.73 percent

UnionBanCal Corporation (NYSE:UB) today reported fourth quarter 2007 net income of $165.7 million, or $1.20 per diluted common share, compared with $226.4 million, or $1.61 per diluted common share, a year earlier. Net income for fourth quarter 2007 inc...

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