Return on Average Tangible Assets definition

Return on Average Tangible Assets means the quotient, expressed as a percentage rounded to two decimal points, of (I) the Company’s net income for the applicable Performance Period as reported in the Company’s audited financial statements for the applicable Performance Period divided by (II) the Company’s average tangible assets for the applicable Performance Period as reflected in the Company’s Annual Report on Form 10-K (if the Company is required to file such Annual Report) for the applicable Performance Period, or such other financial report as the Company shall prepare if not required to file an Annual Report on Form 10-K, as adjusted to eliminate the effects of the following: (a) gains or losses on the sale of a business or a business segment, (b) gains or losses on the extinguishment of debt or the sale of investment securities, (c) asset or investment impairment charges (other than those related to the Company’s loan portfolio in the ordinary course of business), (d) restructuring charges, (e) changes in law or accounting principles, (f) any other expenses or losses resulting from significant, unusual and/or nonrecurring events and (g) events either not directly related to the operations of the Company or not within the reasonable control of the Company’s management, in each case as and if determined in good faith by the Compensation Committee. Moreover, and without limiting the foregoing, Return on Average Tangible Assets shall be adjusted to exclude the effects of any costs or expenses associated with any merger or acquisition affecting the Company or any of its Subsidiaries or any other corporate transaction affecting the shares of the Company’s Common Stock as described in Section 4.2 of the Plan.
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Return on Average Tangible Assets means the quotient, expressed as a percentage rounded to two decimal points, of (I) the Company’s net income for the applicable Performance Period as reported in the Company’s Annual Report on Form 10-K for the applicable Performance Period divided by (II) the Company’s average tangible assets for the applicable Performance Period as reflected in the Company’s Annual Report on Form 10-K for the applicable Performance Period, as adjusted to eliminate the effects of the following: (a) gains or losses on the sale of a business or a business segment, (b) gains or losses on the extinguishment of debt or the sale of investment securities, (c) asset or investment impairment charges (other than those related to the Company’s loan portfolio in the ordinary course of business), (d) restructuring charges, (e) changes in law or accounting principles, and (f) any other expenses or losses resulting from significant, unusual and/or nonrecurring events, as described in management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for the Performance Period, in each case as determined in good faith by the Compensation Committee. Moreover, and without limiting the foregoing, Return on Average Tangible Assets shall be adjusted to exclude the effects of any costs or expenses associated with any merger or acquisition affecting the Company or any of its Subsidiaries or any other corporate transaction affecting the shares of the Company’s Common Stock as described in Section 4.2 of the Plan.
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Return on Average Tangible Assets means, as of any date, the Borrower’s ratio of (i) Consolidated Net Income for the four Fiscal Quarter period ending on or immediately prior to such date to (ii) the average assets of the Borrower and its Subsidiaries, excluding all assets of the Borrower and its Subsidiaries that would be classified as intangible assets on the Borrower’s consolidated balance sheet, measured on a consolidated basis, averaged on a basis consistent with the method used for reporting average tangible assets in the most recent 10-K filed with the Securities and Exchange Commission prior to the Closing Date.
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Examples of Return on Average Tangible Assets in a sentence

  • Moreover, and without limiting the foregoing, Return on Average Tangible Assets shall be adjusted to exclude the effects of any costs or expenses associated with any merger or acquisition affecting the Company or any of its Subsidiaries or any other corporate transaction affecting the shares of the Company’s Common Stock as described in Section 4.2 of the Plan.

  • The Compensation Committee shall determine whether the Company’s Return on Average Tangible Assets exceeds the applicable levels of the Performance Measures set forth on Exhibit A with respect to a Performance Period.

  • The Compensation Committee shall determine whether the Company’s Return on Average Tangible Assets exceeds the threshold levels of the Performance Measures set forth on Exhibit A with respect to a Performance Period.

  • Should the Company’s Return on Average Tangible Assets for Fiscal 2020 be equal to or greater than [___]% (the “Fiscal 2020 Maximum Amount of ROATA”) then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company’s Fiscal 2020 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company’s Common Stock in accordance with Section 1(b) of the Agreement.

  • Should the Company’s Return on Average Tangible Assets for Fiscal 2020 equal [___]% (the “Fiscal 2020 Target Amount of ROATA”) then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company’s Fiscal 2020 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company’s Common Stock in accordance with Section 1(b) of the Agreement.

  • Should the Company's Return on Average Tangible Assets for Fiscal 2015 be equal to or greater than [ ]% (the "Fiscal 2015 Maximum Amount of ROATA") then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company's Fiscal 2015 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company's Common Stock in accordance with Section 1(b) of the Agreement.

  • Should the Company's Return on Average Tangible Assets for Fiscal 2015 equal [__]% (the "Fiscal 2015 Target Amount of ROATA") then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company's Fiscal 2015 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company's Common Stock in accordance with Section 1(b) of the Agreement.

  • Should the Company's Return on Average Tangible Assets for Fiscal 2016 equal [__]% (the "Fiscal 2016 Target Amount of ROATA") then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company's Fiscal 2016 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company's Common Stock in accordance with Section 1(b) of the Agreement.

  • The Borrower will maintain, as of the end of each Fiscal Quarter, commencing with the Fiscal Quarter ending December 31, 2005, a Return on Average Tangible Assets of not less than 0.80%.

  • Should the Company’s Return on Average Tangible Assets for Fiscal 2019 be equal to or greater than [___]% (the “Fiscal 2019 Maximum Amount of ROATA”) then so long as the Required Employment Period applicable thereto is met by the Grantee the portion of the Performance Units granted pursuant to the Agreement related to the Company’s Fiscal 2019 Performance Period shall be settled by the issuance to the Grantee of ____ shares of the Company’s Common Stock in accordance with Section 1(b) of the Agreement.

Related to Return on Average Tangible Assets

  • Operating Income means the Company’s or a business unit’s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting principles.

  • Return on Invested Capital for a period shall mean earnings before interest, taxes, depreciation and amortization divided by the difference of total assets less non-interest bearing current liabilities.

  • Return on Assets means the percentage equal to the Company’s or a business unit’s Operating Income before incentive compensation, divided by average net Company or business unit, as applicable, assets, determined in accordance with generally accepted accounting principles.

  • Return on Equity means the percentage equal to the Company’s Net Income divided by average stockholder’s equity, determined in accordance with generally accepted accounting principles.

  • Adjusted Operating Income for each year in the Performance Period is defined as the Company’s net income from continuing operations as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis), adjusted as set forth in the immediately following sentence. In calculating Adjusted Operating Income, net income from continuing operations shall be adjusted as follows: first (A) remove the after-tax effects of the following items: (i) losses (net of reinsurance) from catastrophes (as designated by the Insurance Service Office’s Property Claims Service Group, the Lloyd’s Claim Office, Swiss Reinsurance Company’s sigma report, or a comparable report or organization generally recognized by the insurance industry, and reported by the Company as a catastrophe); asbestos and environmental reserve charges (or releases); net realized investment gains or losses in the fixed maturities and real estate portfolios; and (ii) extraordinary items, the cumulative effect of accounting changes and federal income tax rate changes, and restructuring charges, each as defined by generally accepted accounting principles in the United States, and each as reported in the Company’s financial statements (including accompanying footnotes and management’s discussion and analysis); (B) reduced, as to the first year in the Performance Period (20XX), by $XXXXXX, as to the second year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium, and as to the third year in the Performance Period (20XX), by $XXXXXX times the ratio of: the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium divided by the Company’s 20XX consolidated personal lines homeowners net written premium plus commercial lines property net written premium plus 50% of commercial lines multi peril net written premium; and (C) reduced by an amount intended, as of the date of this award, to approximate historical levels of credit losses (on an after-tax basis) associated with the Company’s fixed income investments, determined by (i) multiplying a fixed factor, expressed as 2.25 basis points, by the amortized cost of the Company’s fixed maturity investment portfolio at the beginning of each quarter during the relevant year in the Performance Period and (ii) adding the after-tax sum of the amounts resulting from (i) for such year in the Performance Period.