Investor Presentaiton
Supplemental
4Q 2023 Preliminary Results
GAAP to Core Results: Adjusted Efficiency Ratio - Quarterly
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
Repositioning items
Insurance revenue
Adjusted net revenue for the efficiency ratio
Adjusted Efficiency Ratio
4Q 23
3Q 23
QUARTERLY TREND
2Q 23
1Q 23
4Q 22
$
1,416 $
1,232
$
1,249
$
1,266
$
1,266
(321)
(338)
(358)
(315)
(286)
(187)
(30)
(57)
[a] $
908
$
864
$
891
$
951
$
923
$
2,067
$
1,968
$
2,079
$
2,100
$
2,201
13
12
12
11
11
(450)
(322)
(366)
(407)
(387)
[b] $
1,630
$
1,658
$
[a] / [b]
55.7%
52.1%
1,725
51.7%
$
1,704
$
1,825
55.8%
50.6%
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