Return on Average Tangible Common Equity definition

Return on Average Tangible Common Equity means net income, adjusted for tax-affected amortization of intangibles, as a percent of average tangible common equity for the Performance Period. The Compensation Committee will determine Return On Average Tangible Common Equity for the Company and the Peer Group using data reported by SNL Financial LC or such other information which the Compensation Committee determines to be appropriate.
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Return on Average Tangible Common Equity means, for each of the Company and the Peer Group Companies, the quotient, expressed as a percentage rounded to two decimal points, of (I) such company’s net income for the applicable year in the Performance Period divided by (II) such company’s average tangible common equity for the applicable year in the Performance Period, in each case as reflected in, or calculated utilizing (i) the financial data contained in, such company’s Annual Report on Form 10-K or Quarterly Reports on Form 10-Q (if such company is required to file such Annual or Quarterly Reports) for the applicable year in the Performance Period, or such other financial report as such company shall prepare if not required to file an Annual Report on Form 10-K or Quarterly Report on Form 10-Q. For the Company and each of the Peer Group Companies, Return on Average Tangible Common Equity for a year is based on the fiscal year ending December 31 or (ii) such other financial data and calculation methodology as the Compensation Committee shall reasonably determine applied consistently among the Company and the Peer Group Companies. The Compensation Committee may, in its good faith discretion, adjust the ROATCE for any year in the Performance Period with respect to the Company or any Peer Group Company to eliminate the effects of the following: (a) gains or losses on the sale (or contemplation of a sale) of a business or a business segment, (b) gains or losses on the extinguishment or restructuring of indebtedness, including Federal Home Loan Bank advances, or the sale of investment securities, (c) asset or investment impairment charges (other than those related to such company’s loan portfolio in the ordinary course of business), (d) restructuring charges, including charges or expenses associated with transactions involving the unwinding of previously entered into interest rate swaps, caps, ▇▇▇▇▇▇ or other balance sheet derivative transactions, (e) changes in law (including federal and state tax laws) or accounting principles, (f) losses or other expenses associated with other real estate owned (g) costs or expenses associated with any merger or acquisition affecting such company or any of its subsidiaries (or any entities in which it owns equity securities), (h) significant, unusual and/or nonrecurring events, including but not limited to, those arising from the acquisition or disposition of assets (other than loans) and (i) events, including those resulting from macro-economic conditions that imp...
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Return on Average Tangible Common Equity means, for each of the Company and the Peer Group Companies, the quotient, expressed as a percentage rounded to two decimal places, of (I) such company’s net income for the relevant Performance Period divided by (II) such company’s average tangible common equity for the relevant Performance Period, in each case as reflected in such company’s Annual Report on Form 10-K (if such company is required to file such Annual Report) for Fiscal 2021 or Fiscal 2022, as applicable, or such other financial report as the company shall prepare if not required to file an Annual Report on Form 10-K. The Compensation Committee may, in its good faith discretion, adjust the Return on Average Tangible Common Equity with respect to the Company or any Peer Group Company to eliminate the effects of the following: (a) gains or losses on the sale (or contemplation of a sale) of a business or a business segment, (b) gains or losses on the extinguishment or restructuring of indebtedness, including Federal Home Loan Bank advances, or the sale of investment securities,
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Examples of Return on Average Tangible Common Equity in a sentence

  • This Agreement includes this cover page (“Agreement Cover Page”) and the following Schedules, which are expressly incorporated by reference in their entirety herein: (i) Schedule 1 – General Terms and Conditions; (ii) Schedule 2 – Calculation of Relative Operating Return on Average Tangible Common Equity excluding AOCI; 1 AOCI will be excluded from the Performance Metrics for both F.N.B. and peers.

  • Performance Objective: Company Core Return on Average Tangible Common Equity (ROATCE) compared to Selected Group ROATCE Company ROATCE: Calculated by dividing the Company’s Core Net Income by the Company’s Average Tangible Common Equity.

  • The proportion of Performance Restricted Stock Units that will vest and the number of shares of Common Stock issuable in settlement of the Performance Restricted Stock Units to a Participant will be based on the percentile ranking of the Company over the Performance Period, relative to the Comparator Banks, of its Core Return on Average Tangible Common Equity (“Core ROATCE”).

  • The number of PSUs earned shall be determined by reference to SSC’s Tangible Book Value (“TBV”) Growth Per Share (“TBV Growth”) and Adjusted Return on Average Tangible Common Equity (ROATCE) over three-year period versus peers (“ROATCE PSUs”).

  • The Units will be earned, in whole, in part or not at all, based on Grantee’s Continuous Service through the Determination Date, except as otherwise provided by this Award Certificate, and the Company’s Adjusted Tangible Book Value (“TBV”) and Company’s Relative Adjusted Return on Average Tangible Common Equity (“ROATCE”) (each weighted at 50% of the Target Award), as determined in accordance with this Exhibit A.

  • The Stock Units represent the right to earn and vest in between 0% and 150% of the Target Award, payable in Shares of common stock, depending on (i) the Company’s Return on Average Tangible Common Equity (ROATCE) ranking relative to the Company’s ROATCE Peer Group for Performance Period in accordance with Exhibit A, and (ii) either (A) Grantee’s continued employment with the Company or its Affiliates through the third anniversary of the Grant Date or (B) Grantee’s Retirement prior to such date.


More Definitions of Return on Average Tangible Common Equity

Return on Average Tangible Common Equity or “ROATCE” means return on average tangible common equity (or comparable measure), calculated as net income divided by average tangible common equity during the period. Net income equals net income adjusted for after tax amortization of intangibles and goodwill impairment. Average tangible common equity equals average common equity during the period less average goodwill and other intangible assets during the period. The Compensation Committee may, in its good faith discretion, adjust the ROATCE for any year in the Performance Period with respect to the Company or any Peer Group Company to eliminate the effects of the following: (a) gains or losses on the sale of available for sale securities, (b) changes in law (including federal and state tax laws) or accounting principles, and (c) costs or expenses associated with any merger or acquisition affecting such company or any of its subsidiaries. (d) “ROATCE Peer Group” is the KBW Nasdaq Regional Bank Index (NASDAQ:KRX). (e) “Vesting Date” is defined in Section 2(d) of this Agreement. 2.
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Related to Return on Average Tangible Common Equity

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.