Investor Presentaiton
Non-GAAP Measures
InBankshares, Corp
Non-GAAP Financial Measures (unaudited)
(Dollars in thousands, except per share data)
As of and For the
Nine Months Ended
As of and For the Quarter Ended
Sep 30,
2023
Sep 30,
2022
Sep 30,
Jun 30,
2023
2023
Mar 31,
2023
Dec 31,
Sep 30,
2022
2022
Core Efficiency Ratio and Core Noninterest Expense to Average Assets
Noninterest expense (GAAP)
(A)
$
26,152 $
23,620
$
Add: Intangible amortization
(1,307)
(970)
8,905 $
(421)
8,691 $
(431)
8,556 $
(455)
9,377 $
9,892
(475)
(475)
Less: Merger and acquisition expense
(2,063)
(451)
(1,014)
Adjusted noninterest expense (non-GAAP)
(B)
$
24,845 $
20,587
$
8,484 $
8,260 $
8,101 $
8,451 $
8,403
Noninterest income (GAAP)
$
4,211 $
2,945
$
1,450 $
1,368 $
1,394 $
1,360 $
1,121
Less: (Gain) loss on sale of investment securities
Adjusted noninterest income (non-GAAP)
(C)
$
4,211 $
2,945
$
1,450 $
1,368 $
1,394 $
1,360 $
1,121
Net interest income (GAAP)
(D)
$
32,913 $ 29,238
$
10,679 $
10,769 $ 11,464 $ 12,798 $ 13,200
Efficiency ratio
Core efficiency ratio (non-GAAP)
Average assets
(A/(C+D))
(B/(C+D))
70.44%
66.92%
73.39%
63.97%
73.42%
69.95%
71.61%
68.06%
66.54%
63.00%
66.23%
59.69%
69.07%
58.68%
(E)
$ 1,276,525 $ 1,022,289
$1,273,438 $1,287,299 $1,268,787 $1,231,642 $1,233,441
Noninterest income to average assets
(C/E)
0.44%
0.39%
0.45%
0.43%
0.45%
0.44%
0.36%
Noninterest expense to average assets
(A/E)
2.74%
3.09%
2.77%
2.71%
2.73%
3.02%
3.18%
Core noninterest expense to average assets
(B/E)
2.60%
2.69%
2.64%
2.57%
2.59%
2.72%
2.70%
As of and For the
Nine Months Ended
As of and For the Quarter Ended
Sep 30,
2023
Sep 30,
2022
Sep 30,
2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
Adjusted Return on Average Assets excluding M&A
Net income (GAAP)
(A)
$
8,218 $
5,676
$
2,479 $
2,608 $ 3,131
3,138 $
3,128
Add: Merger and acquisition expense
2,063
451
1,014
Less: Tax effect on merger and acquisition expense (at 21.0%)
Adjusted income excluding M&A
(B)
$
8,218 $
(433)
7,306
(95)
(213)
$ 2,479 $ 2,608 $ 3,131 $ 3,494 $ 3,929
Average assets
(C)
$ 1,276,525 $ 1,022,289
$1,273,438 $1,287,299 $1,268,787 $1,231,642 $1,233,441
Return on average assets (GAAP)
(A/C)
0.86%
0.74%
0.77%
0.81%
1.00%
1.01%
1.01%
Adjusted return on average assets excl. M&A (non-GAAP)
(B/C)
0.86%
0.96%
0.77%
0.81%
1.00%
1.13%
1.26%
IN
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