Corporate Strategy and Financial Performance
Non-GAAP Reconciliation, continued
($000s, except where otherwise noted)
Return on Average Common Stockholders' Equity
Return on Average Tangible Common Stockholders' Equity
Average common stockholders' equity (f)
11
YTD
2018
2019
2020
2021
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022 6/30/2022
$ 113,659 $ 125,774 $ 127,101 $ 132,550
$
131,541 $
127,269 $
133,952 $
137,436 $
140,517 $
136,039 $ 137,665
Average common stockholders' equity, as adjusted
Less: Average goodwill
Average tangible common equity (g)
$
113,659 125,774 127,101 132,550
11,004 11,004 11,004 11,004
102,655 $ 114,770 $ 116,097 $ 121,546 $
131,541
11,004
127,269
11,004
133,952
11,004
137,436
11,004
140,517
12,034
136,039
11,965
137,665
11,991
120,537 $
116,265 $
122,948 $
126,432 $
128,483 $
124,074 $ 125,674
Return on average common stockholders' equity, as reported (a)/(f)
9.39%
10.44%
10.89%
14.92%
10.43%
13.84%
13.10%
21.97%
16.27%
15.96%
16.32%
Add back: FHLB penalty, net of tax
1.47%
5.35%
Add back: Contribution
0.63%
-0.84%
Add back: Insurance reimbursement
-1.15%
7.80%
Add back: Settlement expense, net of tax
2.11%
Return on average common stockholders' equity, as adjusted (b)/(f)
9.39%
10.44%
10.89%
17.98%
18.23%
13.84%
18.45%
21.13%
16.27%
15.96%
16.32%
Return on average tangible common equity, as reported (a)/(g)
10.39%
11.44%
11.92%
16.27%
11.38%
15.15%
14.28%
23.88%
17.79%
17.55%
17.88%
Add Back: Impact of Tax Reform Act
Add back: FHLB penalty, net of tax
Add back: Contribution
Add back: Insurance reimbursement
Add back: Settlement expense, net of tax
Return on average tangible common equity, as adj (b)/(g)
Tangible Book Value per Common Share
Total common equity, as reported (h)
1.47%
0.63%
-0.87%
5.82%
2.44%
-3.35%
2.11%
8.51%
10.39%
11.44%
11.92%
19.61%
19.89%
15.15%
20.10%
22.97%
17.79%
17.55%
17.88%
$ 117,066 $ 125,940 $ 131,047 $ 141,900
$
129,189 $ 130,556 $
133,787 $
141,900 $
137,078 $
132,892 $ 132,892
Less: Goodwill
11,004
11,004
11.004
12,052
11,004
11,004
Total tangible common equity (i)
$ 106,062 $ 114,936 $ 120,043 $ 129,848
$
118,185 $ 119,552 $
11,004
122,783 $
Common shares outstanding - basic (actual) (j)
7,086,632
7,110,022
6,992,911
6,620,955
6,998,617
6,614,604
6,617,941
Tangible book value per basic common share (i)/(j)
$
14.98 $
16.17 $
17.17 $ 19.61
$
16.89 $
18.07 $
18.55 $
12,052
129,848 $
6,620,955
19.61 $
12,000
125,078 $
6,637,979
11,947
11,947
120,945 $ 120,945
6,656,395
6,656,395
18.84 $
18.17 $ 18.17
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