Q2 Quarter 2023
Better Bank Initiative: On track to meet or exceed 2023 efficiency targets
Operational Excellence
2023 Efficiency Targets Update
□ Early Retirement Program
Program substantially completed during Q2
Foundation
People
Process
Systems
Sustainable Growth
Great Place to Work
-0-0-
☐
~$5.1 million of annual cost savings
☐ Other Identified Opportunities
Extensive progress completed on other identified opportunities during Q2
Expect to achieve more than 50% of annual costs savings by the end of Q3
☐ On track to meet or exceed $15 million in annual noninterest expense
cost savings by the end of 2023
Ongoing Initiatives
Balance sheet, liquidity & revenue optimization
☐ Enhance deposit and lending operations processes
□ Expand data analytics capabilities and decision process
□ Optimize product delivery channels.
☐ Continued optimization of branch and digital delivery channels
$
Note: The "2023 Efficiency Targets Update" and "Long-Term Objectives" sections of this slide contain Company expectations and projections
Long-Term Objectives (3-5 years)
ROA≥ 1.50%
ratio low 50%
Efficiency ratio
11View entire presentation