2023 Fourth Quarter Investor Presentation
2023 Third Quarter Financial Performance
Key Metrics
Highlights
EPS
ROTCE
(ROTCE ex-AOCI)
GAAP
15.0%
19.5% 20.0%
Adjusted
15.3%
Deposit
Growth
1.8%
QoQ
1.5%
YoY
(ADB)
Loan
Growth
QoQ
(ADB)
Credit
$0.35 $0.36
GAAP
Adjusted
(0.5%) 3.3%
YOY
0.24% 1.96%
GAAP EPS of $0.35; adjusted EPS of $0.36 excluding Notable Items:
$0.01 Notable Items from expenses related to staffing
efficiencies and corporate real estate consolidations
Sustained momentum in core deposit gathering activities and
disciplined management of deposit betas
Average core deposits increased by $2.4 billion QoQ
Total cost of deposit cumulative beta 37%
Continued optimization of the balance sheet in order to drive the
highest returns and support continued expansion of capital
Net interest income expanded QoQ driven by a rising net interest
margin, benefited by proactive balance sheet management
Proactively managing expenses with incremental actions including
consolidating 34 branch locations primarily in 1Q24 (~3% of network),
corporate real estate consolidations, and staffing efficiencies
Credit quality remains strong with normalization consistent with
expectations
Performance
NCO
Ratio
ACL
Coverage
Robust return on capital, contributing to sustained capital accretion
See reconciliations on Slide 55 (EPS) and Slide 56 (ROTCE)
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