Investor Presentaiton
Supplemental
4Q 2023 Preliminary Results
GAAP to Core Results: Adjusted Efficiency Ratio - Annual
Adjusted Efficiency Ratio
Numerator ($ millions)
GAAP noninterest expense
Rep and warrant expense
Insurance expense
Repositioning items
Adjusted noninterest expense for efficiency ratio
Denominator ($ millions)
Total net revenue
Core OID
Insurance revenue
Repositioning items
Adjusted net revenue for efficiency ratio
Adjusted Efficiency Ratio
FY 2023
FY 2022
FY 2021
FY 2020
FY 2019
FY 2018
FY 2017
$
5,163
$
4,687
$
4,110
$
3,833
$
3,429
$
3,264
$
3,110
0
(0)
3
0
(1,332)
(1,150)
(1,061)
(1,092)
(1,013)
(955)
(950)
(217)
(77)
(50)
[a] $
3,614
$
3,460
$
3,049
2,691
$
2,416
$
2,312
$
2,160
$
8,214
$
8,428
$
8,206
$
6,686
$
6,394
$
5,804
$
5,765
48
(1,545)
42
38
36
(1,112)
(1,404)
(1,376)
29
(1,328)
86
(1,035)
71
(1,118)
[b] $
[a] / [b]
6,717
53.8%
$
7,358
47.0%
$
131
6,970
$
43.7%
5,346
50.3%
$
5,095
47.4%
$
4,855
47.6%
$
4,718
45.8%
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