Investor Presentaiton
Supplemental
3Q 2023 Preliminary Results
GAAP to Core Results: Adjusted Efficiency Ratio
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
3Q 23
2Q 23
QUARTERLY TREND
1Q 23
4Q 22
3Q 22
$
1,232
$
1,249
$
1,266
$
1,266
$
1,161
(338)
(358)
(315)
(286)
(290)
(30)
(57)
(20)
[a] $
864
$
891
$
951
$
923
$
851
$
1,968
$
2,079
$
2,100
$
2,201
$
2,016
12
12
11
11
11
(322)
(366)
(407)
(387)
(260)
[b] $
1,658
$
1,725
$
1,704
$
1,825
$
1,767
[a] / [b]
52.1%
51.7%
55.8%
50.6%
48.2%
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