EX-99.2 3 ex_993financialsupplement-.htm EX-99.2 Document

以百万美元为单位，除每股数据外
三个月之内结束九个月结束
财务摘要数据与关键指标2024年9月30日2024年6月30日2023年9月30日2024年9月30日2023年9月30日
经营业绩
净利息收入$1,796 $1,821 $1,990 $5,434 $4,801 
拨备117 95 192 276 1,126 
经计提信贷损失后的净利息收入1,679 1,726 1,798 5,158 3,675 
非利息收入650 639 615 1,916 11,532 
非利息支出1,456 1,386 1,416 4,218 3,843 
税前收入873 979 997 2,856 11,364 
所得税费用234 272 245 779 412 
净收入639 707 752 2,077 10,952 
优先股股息15 16 15 46 44 
净利润可供普通股股东分配$624 $691 $737 $2,031 $10,908 
调整后归属于普通股股东的净利润(1)
$660 $739 $813 $2,168 $1,870 
税前、拨备前净收入(PPNR)(1)
$990 $1,074 $1,189 $3,132 $12,490 
每股信息：
摊薄后每股普通股收益（EPS）$43.42 $47.54 $50.67 $140.26 $750.19 
调整后的摊薄每股收益(1)
45.87 50.87 55.92 149.71 128.64 
期末每股普通股账面价值1,547.81 1,487.00 1,343.52 
每股有形账面价值（TBV）(1) 期末
1,504.75 1,443.92 1,297.00 
关键业绩指标：
平均资产回报率（ROA）1.15  %1.30  %1.41  %1.27  %7.81  %
调整后的ROA(1)
1.22 1.39 1.55 1.35 1.37 
PPNR ROA(1)
1.79 1.97 2.23 1.91 8.91 
调整后的非利息收入占资产总额比率(1)
1.88 2.08 2.48 2.03 2.16 
平均普通股权回报率（ROE）11.30 13.13 15.20 12.73 90.46 
调整后的ROE(1)
11.94 14.05 16.77 13.59 15.51 
平均有形普通股权益回报（ROTCE）(1)
11.63 13.53 15.76 13.12 94.17 
调整后的ROTCOE(1)
12.29 14.48 17.39 14.00 16.15 
效率比率59.49 56.36 54.34 57.38 23.53 
调整后的效率比率(1)
54.15 50.77 46.04 51.72 49.85 
净利息收益率（NIM）(2)
3.53 3.64 4.07 3.62 3.95 
净利润，不包括购买会计增值（purchase accounting accretion）(1), (2)
3.33 3.36 3.52 3.35 3.50 
选择期末资产负债表项目：
总投资证券$38,663 $37,666 $26,818 
贷款和租赁总额138,695 139,341 133,202 
总经营租赁设备净额9,186 8,945 8,661 
存款总额151,574 151,079 146,233 
借款总额37,161 37,458 37,712 
贷存比91.50  %92.23  %91.09  %
无息存款占总存款比例25.99 26.49 29.50 
期末资本比率： (3)
总风险资本充足率15.36  %15.45  %15.64  %
一级风险资本充足率13.78 13.87 13.83 
普通股权第一层资本比率13.24 13.33 13.24 
一级杠杆资本充足率10.20 10.29 9.73 
期末资产质量：
不计提贷款占总贷款和租赁比例0.90  %0.82  %0.68  %
贷款和租赁损失准备金（ALLL）占贷款和租赁比1.21 1.22 1.26 
该时期的净冲销比率0.42 0.38 0.53 0.37 0.45 
(1) 表示一个非通用会计准则指标。请参考本财务补充资料末尾包含的非通用会计准则调整表，以将其调整为最直接可比的通用会计准则指标。“调整”项目不包括重大项目的影响。
(2) 考虑到保理客户的平均信贷余额和存款，计算后净额
(3) 当前季度末的资本比率是初步的，等待季度监管申报完成。


以百万美元计算，除股份和每股数据外
三个月之内结束九个月结束
损益表（未经审计） 2024年9月30日2024年6月30日2023年9月30日2024年9月30日2023年9月30日
利息收入
贷款利息和费用$2,430 $2,422 $2,426 $7,206 $5,796 
投资证券利息358 330 180 970 407 
银行存款利息350 378 504 1,176 1,071 
总利息收入3,138 3,130 3,110 9,352 7,274 
利息支出
存款1,004 975 769 2,907 1,632 
借款338 334 351 1,011 841 
总利息支出1,342 1,309 1,120 3,918 2,473 
净利息收入1,796 1,821 1,990 5,434 4,801 
拨备117 95 192 276 1,126 
经计提信贷损失后的净利息收入1,679 1,726 1,798 5,158 3,675 
非利息收入
经营租赁设备的租金收入262 259 248 776 719 
收费收入和其他服务费81 77 71 233 188 
客户投资费用55 54 52 159 106 
财富管理服务54 52 49 157 140 
国际费用29 30 30 87 63 
存入资金账户的服务费45 44 44 133 112 
保理佣金19 19 21 55 60 
持卡人服务净额42 40 41 122 103 
商户服务净额12 12 12 36 36 
保险佣金14 13 13 42 40 
投资证券出售的已实现收益（损失），净4 — (12)4 (26)
可交易权益证券公允价值调整，净9 (2)(1)3 (20)
出售租赁设备的收益，净5 4 10 19 18 
收购获利 — — 12 — 9,891 
债务清偿损失— — — (2)— 
其他非利息收入 19 37 25 92 102 
非利息收入总额650 639 615 1,916 11,532 
非利息支出
经营租赁设备折旧99 98 95 293 275 
维护和其他经营租赁费用59 60 51 164 163 
工资和福利788 745 727 2,277 1,922 
净占用费用62 58 65 182 179 
设备费用128 126 117 368 308 
专业费用42 24 12 91 43 
第三方处理费用55 58 54 173 139 
FDIC保险费用31 33 36 105 76 
营销费用20 18 22 52 78 
收购相关费用46 44 121 148 354 
无形资产摊销15 15 17 47 40 
其他非利息费用111 107 99 318 266 
总非利息支出1,456 1,386 1,416 4,218 3,843 
税前收入873 979 997 2,856 11,364 
所得税费用234 272 245 779 412 
净收入$639 $707 $752 $2,077 $10,952 
优先股股息15 16 15 46 44 
净利润可供普通股股东分配$624 $691 $737 $2,031 $10,908 
基本每股收益$43.42 $47.54 $50.71 $140.27 $750.79 
每股普通股稀释收益$43.42 $47.54 $50.67 $140.26 $750.19 
加权平均普通股已发行量（基本） 14,375,97414,534,49914,528,31014,480,87414,527,718
加权平均普通股已发行量（摊薄） 14,375,97414,534,49914,539,13314,481,91914,539,383




以百万美元计，除股票数据外
资产负债表（未经审计） 2024年9月30日2024年6月30日2023年9月30日
资产
现金和存放在银行的款项$862 $764 $791 
银行存款中的利息收入25,640 25,361 36,704 
通过回购协议购买的证券455 392 549 
在市场上可流通的股权投资82 78 75 
可供出售证券28,190 27,053 16,661 
持有至到期投资证券10,391 10,535 10,082 
待售资产68 92 58 
贷款和租赁138,695 139,341 133,202 
贷款和租赁损失拨备(1,678)(1,700)(1,673)
贷款和租约净额，减去贷款和租约减值准备137,017 137,641 131,529 
营运租赁设备净值9,186 8,945 8,661 
资产和设备净值1,974 1,938 1,768 
商誉346 346 346 
其他无形资产，净额265 280 329 
其他6,091 6,402 6,212 
总资产$220,567 $219,827 $213,765 
负债
存款：
非计息账户$39,396 $40,016 $43,141 
计息账户112,178 111,063 103,092 
存款总额151,574 151,079 146,233 
保理客户的信用余额1,250 1,175 1,282 
借款：
短期借款391 386 453 
长期借款36,770 37,072 37,259 
借款总额37,161 37,458 37,712 
其他负债7,754 7,628 8,149 
负债合计$197,739 $197,340 $193,376 
股东权益
优先股881881 881 
普通股：
A类股票 - 面值$113 14 14
B类股票 - 面值$11 1 1 
股票认购应收款项。3,389 4,099 4,106 
保留盈余18,703 18,102 16,267 
累计其他综合损失(159)(610)(880)
股东权益总额22,828 22,487 20,389 
负债和股东权益总额$220,567 $219,827 $213,765 



Dollars in millions, except share per share data
Notable Items (1)
Three Months EndedNine Months Ended
September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Noninterest income
Rental income on operating lease equipment (2)
$(158)$(158)$(146)$(457)$(438)
Realized (gain) loss on sale of investment securities, net(4)— 12 (4)26 
Fair value adjustment on marketable equity securities, net(9)2 1 (3)20 
Gain on sale of leasing equipment, net(5)(4)(10)(19)(18)
Gain on acquisition— — (12)— (9,891)
Loss on extinguishment of debt— — — 2 — 
Other noninterest income (3)
— — 8 (4)8 
Impact of notable items on adjusted noninterest income$(176)$(160)$(147)$(485)$(10,293)
Noninterest expense
Depreciation on operating lease equipment (2)
(99)(98)(95)(293)(275)
Maintenance and other operating lease equipment expense (2)
(59)(60)(51)(164)(163)
Professional fees (4)
— (1)— (4)— 
FDIC insurance special assessment— (2)— (11)— 
Acquisition-related expenses(46)(44)(121)(148)(354)
Intangible asset amortization(15)(15)(17)(47)(40)
Other noninterest expense (5)
(8)2 — — — 
Impact of notable items on adjusted noninterest expense$(227)$(218)$(284)$(667)$(832)
Day 2 provisions for loan and lease losses and off-balance sheet credit exposure$— $— $— $— $(716)
Benefit for credit losses on investment securities available for sale— — 3 — — 
Impact of notable items on adjusted provision for credit losses$— $— $3 $— $(716)
Impact of notable items on adjusted pre-tax income$51 $58 $134 $182 $(8,745)
Income tax impact (6)
1510 58 45 293 
Impact of notable items on adjusted net income$36 $48 $76 $137 $(9,038)
Impact of notable items on adjusted diluted EPS$2.45 $3.33 $5.25 $9.45 $(621.55)
(1) Notable items include income and expense for infrequent transactions and certain recurring items (typically noncash) that management believes should be excluded from adjusted measures (non-GAAP) to enhance understanding of operations and comparability to historical periods. Management utilizes both GAAP and adjusted measures (non-GAAP) to analyze BancShares’ performance. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.
(2) Depreciation and maintenance and other operating lease expenses are deducted from rental income on operating lease equipment to calculate adjusted rental income on operating lease equipment (non-GAAP). There is no net impact to earnings for this non-GAAP item because adjusted noninterest income and expense are reduced by the same amount. Management believes adjusted rental income on operating lease equipment (non-GAAP) is meaningful because it helps management monitor the performance and profitability of the operating leases after deducting direct expenses. Refer to subsequent pages of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.
(3) Other noninterest income includes a gain on litigation settlement in the 2024 YTD period and a Silicon Valley Bridge Bank, N.A purchase accounting adjustment related to FX translation in the 2023 QTD and YTD periods.
(4) Professional fees include expenses related to integration activities.
(5) Other noninterest expense consists of a technology fee in 3Q24 and a litigation reserve release in 2Q24.
(6) For the periods presented, the income tax impact may include tax discrete items and changes in the estimated annualized effective tax rate.






Dollars in millions, except share and per share data
Condensed Income Statements (unaudited) - Adjusted for Notable Items (1)
Three Months EndedNine Months Ended
September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Interest income$3,138 $3,130 $3,110 $9,352 $7,274 
Interest expense1,342 1,309 1,120 3,918 2,473 
Net interest income1,796 1,821 1,990 5,434 4,801 
Provision for credit losses117 95 195 276 410 
Net interest income after provision for credit losses1,679 1,726 1,795 5,158 4,391 
Noninterest income474 479 468 1,431 1,239 
Noninterest expense1,229 1,168 1,132 3,551 3,011 
Income before income taxes924 1,037 1,131 3,038 2,619 
Income tax expense249 282 303 824 705 
Net income$675 $755 $828 $2,214 $1,914 
Preferred stock dividends15 16 15 46 44 
Net income available to common stockholders$660 $739 $813 $2,168 $1,870 
Basic earnings per common share $45.87 $50.87 $55.96 $149.72 $128.74 
Diluted earnings per common share45.87 50.87 55.92 149.71128.64
Weighted average common shares outstanding (basic)14,375,97414,534,49914,528,31014,480,87414,527,718
Weighted average common shares outstanding (diluted)14,375,97414,534,49914,539,13314,481,91914,539,383
(1) The GAAP income statements and notable items are included previously in this financial supplement. The condensed adjusted income statements above (non-GAAP) exclude the impact of notable items. Refer to the non-GAAP reconciliation tables at the end of this financial supplement for a reconciliation of non-GAAP measures to the most directly comparable GAAP measure.



Dollars in millions
Loans and Leases by Class (end of period)September 30, 2024June 30, 2024September 30, 2023
Commercial
Commercial construction$4,924 $4,484 $3,946 
Owner occupied commercial mortgages16,372 16,233 15,148 
Non-owner occupied commercial mortgages16,078 15,580 14,243 
Commercial and industrial30,867 30,684 28,717 
Leases2,020 2,049 2,108 
Total commercial$70,261 $69,030 $64,162 
Consumer
Residential mortgage$23,237 $23,101 $22,465 
Revolving mortgage2,455 2,351 2,067 
Consumer auto1,543 1,503 1,411 
Consumer other1,347 1,388 1,191 
Total consumer$28,582 $28,343 $27,134 
SVB
Global fund banking$27,114 $28,915 $27,516 
Investor dependent - early stage1,128 1,179 1,718 
Investor dependent - growth stage2,434 2,627 3,948 
Innovation C&I and cash flow dependent9,176 9,247 8,724 
Total SVB$39,852 $41,968 $41,906 
Total loans and leases$138,695 $139,341 $133,202 
Less: allowance for loan and lease losses(1,678)(1,700)(1,673)
Total loans and leases, net of allowance for loan and lease losses$137,017 $137,641 $131,529 
Deposits by Type (end of period)September 30, 2024June 30, 2024September 30, 2023
Noninterest-bearing demand$39,396 $40,016 $43,141 
Checking with interest23,216 23,907 23,461 
Money market34,567 32,636 30,079 
Savings40,266 39,361 32,708 
Time14,129 15,159 16,844 
Total deposits$151,574 $151,079 $146,233 



Dollars in millions
Three Months EndedNine Months Ended
Credit Quality and Allowance for Loan and Lease Losses (ALLL)September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Nonaccrual loans at period end$1,244 $1,141 $899 
Ratio of nonaccrual loans to total loans at period end0.90 %0.82 %0.68 %
Charge-offs$(177)$(159)$(199)$(464)$(437)
Recoveries32 27 23 84 54 
Net charge-offs$(145)$(132)$(176)$(380)$(383)
Net charge-off ratio0.42 %0.38 %0.53 %0.37 %0.45 %
ALLL to loans ratio at period end1.21 %1.22 %1.26 %
ALLL at beginning of period$1,700 $1,737 $1,637 $1,747 $922 
Initial PCD ALLL— — — — 220 
Day 2 provision for loan and lease losses— — — — 462 
Provision for loan and lease losses123 95 212 311 452 
Net charge-offs(145)(132)(176)(380)(383)
ALLL at end of period$1,678 $1,700 $1,673 $1,678 $1,673 



Dollars in millionsThree Months Ended
Average Balance Sheets, Yields and RatesSeptember 30, 2024June 30, 2024September 30, 2023
Average BalanceIncome/ExpenseYield/RateAverage BalanceIncome/ExpenseYield/RateAverage BalanceIncome/ExpenseYield/Rate
Loans and leases (1)(2)
$137,602 $2,430 7.03 %$135,965 $2,422 7.15 %$131,653 $2,426 7.30 %
Investment securities38,189 354 3.70 36,445 327 3.60 24,388 177 2.90 
Securities purchased under agreements to resell241 4 5.34 236 3 5.37 223 3 5.28 
Interest-earning deposits at banks26,167 350 5.33 28,059 378 5.42 37,456 504 5.34 
Total interest-earning assets (2)
$202,199 $3,138 6.18 %$200,705 $3,130 6.26 %$193,720 $3,110 6.37 %
Operating lease equipment, net$9,028 $8,888 $8,617 
Cash and due from banks717 750 911 
Allowance for loan and lease losses(1,725)(1,763)(1,714)
All other noninterest-earning assets10,247 10,311 10,460 
Total assets$220,466 $218,891 $211,994 
Interest-bearing deposits
Checking with interest$23,946 $134 2.23 %$24,427 $137 2.26 %$24,600 $134 2.15 %
Money market34,127 278 3.24 31,998 250 3.14 29,684 179 2.40 
Savings39,944 436 4.34 38,434 415 4.35 30,185 303 3.99 
Time deposits14,429 156 4.29 16,043 173 4.33 16,489 153 3.68 
Total interest-bearing deposits112,446 1,004 3.55 110,902 975 3.54 100,958 769 3.02 
Borrowings:
Securities sold under customer repurchase agreements384 — 0.55 380 — 0.46 454 — 0.35 
Short-term FHLB borrowings— — — — — — — — — 
Short-term borrowings384 — 0.55 380 — 0.46 454 — 0.35 
Federal Home Loan Bank borrowings— — 2.01 — — 2.00 444 6 5.47 
Senior unsecured borrowings361 2 2.59 375 3 2.49 382 2 2.46 
Subordinated debt900 8 3.34 901 7 3.32 1,042 10 3.65 
Other borrowings35,803 328 3.66 35,824 324 3.61 35,831 333 3.71 
Long-term borrowings37,064 338 3.64 37,100 334 3.60 37,699 351 3.72 
Total borrowings37,448 338 3.61 37,480 334 3.56 38,153 351 3.68 
Total interest-bearing liabilities$149,894 $1,342 3.57 %$148,382 $1,309 3.54 %$139,111 $1,120 3.20 %
Noninterest-bearing deposits$39,026 $39,344 $43,085 
Credit balances of factoring clients1,195 1,234 1,209 
Other noninterest-bearing liabilities7,500 7,879 8,473 
Stockholders' equity22,851 22,052 20,116 
Total liabilities and stockholders’ equity$220,466 $218,891 $211,994 
Net interest income$1,796 $1,821 $1,990 
Net interest spread (2)
2.61 %2.72 %3.17 %
Net interest margin (2)
3.53 %3.64 %4.07 %
(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The balance and rate presented are calculated net of average credit balances and deposits of factoring clients.
Note: Certain items above do not precisely recalculate as presented due to rounding.




Dollars in millionsNine Months Ended
Average Balance Sheets, Yields and RatesSeptember 30, 2024September 30, 2023
Average BalanceIncome/ExpenseYield/RateAverage BalanceIncome/ExpenseYield/Rate
Loans and leases (1)(2)
$135,302 $7,206 7.11 %$113,028 $5,796 6.85 %
Investment securities35,769 960 3.58 21,222 401 2.52 
Securities purchased under agreements to resell240 10 5.37 139 6 5.12 
Interest-earning deposits at banks29,192 1,176 5.38 27,794 1,071 5.15 
Total interest-earning assets (2)
$200,503 $9,352 6.22 %$162,183 $7,274 5.99 %
Operating lease equipment, net$8,908 $8,421 
Cash and due from banks751 891 
Allowance for loan and lease losses(1,762)(1,420)
All other noninterest-earning assets10,087 17,354 
Total assets$218,487 $187,429 
Interest-bearing deposits
Checking with interest$24,112 $401 2.22 %$21,783 $274 1.68 %
Money market32,358 760 3.14 26,686 407 2.04 
Savings38,296 1,242 4.33 23,410 601 3.44 
Time deposits15,712 504 4.28 14,404 350 3.25 
Total interest-bearing deposits110,478 2,907 3.51 86,283 1,632 2.53 
Borrowings:
Securities sold under customer repurchase agreements398 1 0.49 455 1 0.32 
Short-term FHLB borrowings— — — 145 5 4.79 
Short-term borrowings398 1 0.49 600 6 1.40 
Federal Home Loan Bank borrowings— — 2.00 3,084 120 5.22 
Senior unsecured borrowings371 7 2.53 686 11 2.16 
Subordinated debt904 23 3.32 1,045 29 3.59 
Other borrowings35,829 980 3.65 24,450 675 3.68 
Long-term borrowings37,104 1,010 3.63 29,265 835 3.80 
Total borrowings37,502 1,011 3.59 29,865 841 3.75 
Total interest-bearing liabilities$147,980 $3,918 3.53 %$116,148 $2,473 2.84 %
Noninterest-bearing deposits$39,339 $39,007 
Credit balances of factoring clients1,178 1,129 
Other noninterest-bearing liabilities7,793 14,143 
Stockholders' equity22,197 17,002 
Total liabilities and stockholders’ equity$218,487 $187,429 
Net interest income$5,434 $4,801 
Net interest spread (2)
2.69 %3.15 %
Net interest margin (2)
3.62 %3.95 %
(1) Loans and leases include nonaccrual loans and loans held for sale. Interest income on loans and leases includes loan PAA income and loan fees.
(2) The balance and rate presented are calculated net of average credit balances and deposits of factoring clients.
Note: Certain items above do not precisely recalculate as presented due to rounding.



Dollars in millions, except share and per share data
Three Months EndedNine Months Ended
Non-GAAP ReconciliationsSeptember 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Net income and EPS
Net income (GAAP)a$639 $707 $752 $2,077 $10,952 
Preferred stock dividends15 16 15 46 44 
Net income available to common stockholders (GAAP)b$624 $691 $737 $2,031 $10,908 
Total notable items, after income taxc36 48 76 137 (9,038)
Adjusted net income (non-GAAP)d = (a+c)675 755 828 2,214 1,914 
Adjusted net income available to common stockholders (non-GAAP)e = (b+c)$660 $739 $813 $2,168 $1,870 
Weighted average common shares outstanding
Basicf14,375,974 14,534,499 14,528,310 14,480,874 14,527,718 
Dilutedg14,375,974 14,534,499 14,539,133 14,481,919 14,539,383 
EPS (GAAP)
Basicb/f$43.42 $47.54 $50.71 $140.27 $750.79 
Dilutedb/g43.42 47.54 50.67 140.26 750.19 
Adjusted EPS (non-GAAP)
Basice/f$45.87 $50.87 $55.96 $149.72 $128.74 
Dilutede/g45.87 50.87 55.92 149.71 128.64 
Noninterest income and expense
Noninterest income (GAAP)h$650 $639 $615 $1,916 $11,532 
Impact of notable items, before income tax(176)(160)(147)(485)(10,293)
Adjusted noninterest income (non-GAAP)i$474 $479 $468 $1,431 $1,239 
Noninterest expense (GAAP)j$1,456 $1,386 $1,416 $4,218 $3,843 
Impact of notable items, before income tax(227)(218)(284)(667)(832)
Adjusted noninterest expense (non-GAAP)k$1,229 $1,168 $1,132 $3,551 $3,011 
Provision for credit losses
Provision for credit losses$117 $95 $192 $276 $1,126 
Less: day 2 provision for loan and lease losses and off-balance sheet exposure— — — — 716 
Less: provision (benefit) for credit losses on investment securities available for sale— — (3)— — 
Adjusted provision for credit losses (non-GAAP)$117 $95 $195 $276 $410 
PPNR
Net income (GAAP)a$639 $707 $752 $2,077 $10,952 
Plus:
Provision for credit losses117 95 192 276 1,126 
Income tax expense234 272 245 779 412 
PPNR (non-GAAP)l$990 $1,074 $1,189 $3,132 $12,490 
Impact of notable items (1)
51 58 137 182 (9,461)
Adjusted PPNR (non-GAAP)m$1,041 $1,132 $1,326 $3,314 $3,029 
(1) Excludes the notable items for the provision for credit losses and income taxes as these items are excluded from PPNR as presented in the table above.
Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions
Three Months EndedNine Months Ended
Non-GAAP Reconciliations (continued) September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
ROA
Net income (GAAP)a$639 $707 $752 $2,077 $10,952 
Annualized net incomen = a annualized2,544 2,842 2,983 2,775 14,642 
Adjusted net income (non-GAAP)d675 755 828 2,214 1,914 
Annualized adjusted net incomep = d annualized2,684 3,036 3,286 2,958 2,560 
Average assetso220,466 218,891 211,994 218,487 187,429 
ROAn/o1.15 %1.30 %1.41 %1.27 %7.81 %
Adjusted ROA (non-GAAP)p/o1.22 1.39 1.55 1.35 1.37 
PPNR ROA
PPNR (non-GAAP)l$990 $1,074 $1,189 $3,132 $12,490 
Annualized PPNRq = l annualized3,942 4,316 4,717 4,184 16,699 
Adjusted PPNR (non-GAAP)m1,041 1,132 1,326 3,314 3,029 
Annualized adjusted PPNRr = m annualized4,141 4,552 5,261 4,427 4,049 
PPNR ROA (non-GAAP)q/o1.79 %1.97 %2.23 %1.91 %8.91 %
Adjusted PPNR ROA (non-GAAP)r/o1.88 2.08 2.48 2.03 2.16 
ROE and ROTCE
Annualized net income available to common stockholderss = b annualized$2,483 $2,779 $2,923 $2,713 $14,583 
Annualized adjusted net income available to common stockholderst = e annualized$2,623 $2,974 $3,225 $2,896 $2,501 
Average stockholders' equity (GAAP)$22,851 $22,052 $20,116 $22,197 $17,002 
Less: average preferred stock881 881 881 881 881 
Average common stockholders' equityu$21,970 $21,171 $19,235 $21,316 $16,121 
Less: average goodwill346 346 346 346 346 
Less: average other intangible assets275 288 338 290 290 
Average tangible common equity (non-GAAP)v$21,349 $20,537 $18,551 $20,680 $15,485 
ROEs/u11.30 %13.13 %15.20 %12.73 %90.46 %
Adjusted ROE (non-GAAP)t/u11.94 14.05 16.77 13.59 15.51 
ROTCE (non-GAAP)s/v11.63 13.53 15.76 13.12 94.17 
Adjusted ROTCE (non-GAAP)t/v12.29 14.48 17.39 14.00 16.15 
Tangible common equity to tangible assets at period end
Stockholders' equity (GAAP)w$22,828 $22,487 $20,389 
Less: preferred stock881 881 881 
Common equityx$21,947 $21,606 $19,508 
Less: goodwill346 346 346 
Less: other intangible assets265 280 329 
Tangible common equity (non-GAAP)y$21,336 $20,980 $18,833 
Total assets (GAAP)z220,567 219,827 213,765 
Tangible assets (non-GAAP)aa219,956 219,201 213,090 
Total equity to total assets (GAAP)w/z10.35 %10.23 %9.54 %
Tangible common equity to tangible assets (non-GAAP)y/aa9.70 9.57 8.84 
Note: Certain items above do not precisely recalculate as presented due to rounding.


Dollars in millions, except share and per share data
Three Months EndedNine Months Ended
Non-GAAP Reconciliations (continued) September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Book value and tangible book value per common share at period end
Common shares outstanding at period endbb14,179,208 14,529,735 14,520,103 
Book value per sharex/bb$1,547.81 $1,487.00 $1,343.52 
Tangible book value per common share (non-GAAP)y/bb1,504.75 1,443.92 1,297.00 
Efficiency ratio
Net interest incomecc$1,796 $1,821 $1,990 $5,434 $4,801 
Efficiency ratio (GAAP)j / (h + cc)59.49 %56.36 %54.34 %57.38 %23.53 %
Adjusted efficiency ratio (non-GAAP)k / (i + cc)54.15 50.77 46.04 51.72 %49.85 %
Rental income on operating lease equipment
Rental income on operating lease equipment (GAAP)$262 $259 $248 $776 $719 
Less: depreciation on operating lease equipment99 98 95 293 275 
Less: maintenance and other operating lease expenses59 60 51 164 163 
Adjusted rental income on operating lease equipment (non-GAAP)$104 $101 $102 $319 $281 
Net interest income & Net interest margin
Net interest income (GAAP)cc$1,796 $1,821 $1,990 $5,434 $4,801 
Loan PAA incomedd107 145 275 415 535 
Other PAA (expense) incomeee(6)(5)(6)(16)11 
Total PAAff = (dd + ee)$101 $140 $269 $399 $546 
Net interest income, excluding PAA (non-GAAP)gg = (cc - ff)$1,695 $1,681 $1,721 $5,035 $4,255 
Annualized net interest income (GAAP)hh = cc annualized$7,147 $7,322 $7,894 $7,259 $6,418 
Annualized net interest income, excluding PAA (non-GAAP)ii = ee annualized6,746 6,760 6,829 6,726 5,689 
Average interest-earning assetsjj202,199 200,705 193,720 200,503 162,183 
NIM (GAAP)hh/jj3.53 %3.64 %4.07 %3.62 %3.95 %
NIM, excluding PAA (non-GAAP)ii/jj3.33 3.36 3.52 3.35 3.50 
Note: Certain items above do not precisely recalculate as presented due to rounding.