Corporate Strategy and Financial Performance
Non-GAAP Reconciliation, continued
($000s, except where otherwise noted)
11
YTD
2018
2019
2020
2021
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022 6/30/2022
Tangible common equity to tangible assets ("TCE Ratio")
Total assets, as reported (k)
Less: Goodwill
Total tangible assets (1)
Tangible common equity to tangible assets (k)/(I)
Net interest margin (tax equivalent)
Net interest income
Tax equivalent adjustment
Tax equivalent net interest income (m)
Average earning assets (n)
Net interest margin (tax equivalent) (m)/(n)
Efficiency Ratio
Noninterest expense, as reported
1,384,516 1,442,966 1,733,414 1,729,838
11,004 11,004 11,004
12,052
1,781,833
11,004
1,763,806
1,708,555
11,004
11,004
1,729,838
12,052
1,760,325
12,000
1,752,455 1,752,455
11,947
11,947
$ 1,373,512 $1,431,962 $1,722,410 $1,717,786 $ 1,770,829 $1,752,802 $ 1,697,551 $ 1,717,786 $ 1,748,325 $ 1,740,508 $ 1,740,508
7.72%
8.03%
6.97%
7.56%
6.67%
6.82%
7.23%
7.56%
7.15%
6.95%
6.95%
$
$
44,182 $ 46,391 $ 48,546 $ 52,542
796
868
917
44,978 $ 47,259 $ 49,463 $ 53,481
12,236 $ 12,762 $
939
239
234
12,475 $ 12,996
13,625 $
232
13,919 $
234
13,857 $ 14,153 $
13,341 $
13,971 $
241
13,582 $
236
14,207 $ 27,789
27,312
477
$ 1,203,813 $1,285,019 $1,480,165 $1,629,299
3.74%
3.68%
3.34%
3.28%
$ 1,627,190 $1,652,816 $
3.11% 3.15%
1,628,594 $ 1,609,156 $ 1,619,585 $ 1,619,037 $ 1,619,333
3.38%
3.49%
3.40%
3.52%
3.46%
$
43,808 $
45,389 $
43,934 $
47,764
$ 12,927 $ 11,033
Less: FHLB penalty, gross
(2,368)
13,027 $
(2,368)
10,777 $
10,578 $
10,637 $
21,215
Less: Contribution
(1,000)
(1,000)
Less: Settlement expense
(3,300)
(3,300)
Noninterest expense, adjusted (o)
$
43,808 $
45,389 $ 43,934 $ 41,096
$
9,627 $
11,033 $
10,659 $
9,777 $
10,578 $
10,637 $
21,215
Net interest income
$
Noninterest income
44,182 $ 46,391 $ 48,546 $
15,168 16,783
52,542
$
12,236 $
12,762 $
13,625 $
13,919 $
13,341 $
13,971 $
27,312
18,577
20,714
5,330
4,764
4,605
6,015
4,403
4,420
8,823
Less: Insurance reimbursement
(1,375)
(1,375)
Tax equivalent adjustment
796
868
917
939
239
234
232
234
241
236
477
Total tax equivalent revenue (p)
$
60,146 $
64,042 $ 68,040 $
72,820
$
17,805 $
17,760 $
18,462 $
18,793 $
17,985 $
18,627 $
36,612
Efficiency ratio, as adjusted (o)/(p)
72.84%
70.87% 64.57%
56.44%
54.07%
62.12%
57.73%
52.02%
58.81%
57.10%
57.94%
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