Average Tangible Common Equity definition

Average Tangible Common Equity means annual average common stockholders’ equity less annual average goodwill and annual average identifiable intangible assets. Annual averages of the components of Average Tangible Common Equity will be calculated using quarterly balances as reported in publically available financial disclosures. In the event that quarterly balances are not available, annual year end balances will be used. This calculation is used solely for purposes of the Performance Ranking.
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Average Tangible Common Equity for any period means the average tangible common equity for such period as reported by the Company, with adjustments similar to those adjustments made for purposes of determining Core Net Income also being made to Average Tangible Common Equity to the extent applicable.
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Average Tangible Common Equity means the Holding Company’s shareholders’ equity (as determined in accordance with U.S. GAAP) , less goodwill and other intangible assets, net of related tax effect, computed on an annual basis consistent with the Holding Company’s public disclosure of average equity.
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Examples of Average Tangible Common Equity in a sentence

  • If Return On Average Tangible Common Equity exceeds Median Performance but does not equal or exceed Maximum Performance, the Participant shall vest in an amount of Shares of Restricted Stock on the Vesting Date determined by linear interpolation on a straight-line basis rounded to the nearest whole share between Median Performance and Maximum Performance.

  • If Return On Average Tangible Common Equity exceeds Threshold Performance but does not equal or exceed Median Performance, the Participant shall vest in an amount of Shares of Restricted Stock on the Vesting Date determined by linear interpolation on a straight-line basis rounded to the nearest whole share between Threshold Performance and Median Performance.

  • The Shares of Restricted Stock will be subject to vesting on the Vesting Date if the following levels of Return On Average Tangible Common Equity as measured against the companies in the Peer Group during the Performance Period are achieved: • Threshold Performance: 25% of the Shares of Restricted Stock will vest if the Company’s Return On Average Tangible Common Equity is equal to the 25th percentile of the Peer Group.

  • Old National’s Full Year Average Tangible Common Equity: Average total equity as reported in the Company’s internal financial performance report for the year ended December 31, 2023 adjusted to subtract back full year average goodwill and average intangibles and to also adjust for the average impact of the adjustment to net income.

  • 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 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 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.

  • 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.


More Definitions of Average Tangible Common Equity

Average Tangible Common Equity means annual average common stockholders’ equity less annual average goodwill and annual average identifiable intangible assets. Annual averages of the components of Average Tangible Common Equity will be calculated using quarterly balances as reported in publicly available financial disclosures. In the event that quarterly balances are not available, annual year end balances will be used. This calculation is used solely for purposes of the Performance Ranking. “Calculation Agent” means a third party entity not owned or controlled by the Firm, such as an accounting or consulting firm, retained from time to time by the Director of Human Resources or his/her delegate.“Cause” means a determination by the Firm that your employment terminated as a result of your (i) violation of any law, rule or regulation (including rules of self-regulatory bodies) related to the Firm’s business, (ii) indictment or conviction of a felony, (iii) commission of a fraudulent act, (iv) violation of the JPMorgan Code of Conduct or other Firm policies or misconduct related to your duties to the Firm (other than immaterial and inadvertent violations or misconduct), (v) grossly inadequate performance of the duties associated with your position or job function or failure to follow reasonable directives of your manager, or (vi) any act or failure to act that is injurious to the interests of the Firm or its relationship with a customer, client or an employee.“Financial Services Company” means a business enterprise that employs you in any capacity (such as an employee, contractor, consultant, advisor, or self-employed individual, whether paid or unpaid) and engages in:
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Average Tangible Common Equity means annual average common stockholders’ equity less annual average goodwill and annual average identifiable intangible assets. Annual averages of the components of Average Tangible Common Equity will be calculated using quarterly balances as reported in publically available financial disclosures. In the event that quarterly balances are not available, annual year end balances will be used. This calculation is used solely for purposes of the Performance Ranking. “Calculation Agent” means a third party entity not owned or controlled by the Firm, such as an accounting or consulting firm, retained from time to time by the Director of Human Resources or his/her delegate. “Cause” means a determination by the Firm that your employment terminated as a result of your (i) violation of any law, rule or regulation (including rules of self-regulatory bodies) related to the Firm’s business, (ii) indictment or conviction of a felony, (iii) commission of a fraudulent act, (iv) violation of the JPMorgan Chase Code of Conduct or other Firm policies or misconduct related to your duties to the Firm (other than immaterial and inadvertent violations or misconduct), (v) grossly inadequate performance of the duties associated with your position or job function or failure to follow reasonable directives of your manager, or (vi) any act or failure to act that is injurious to the interests of the Firm or its relationship with a customer, client or an employee. “Financial Services Company” means a business enterprise that employs you in any capacity (such as an employee, contractor, consultant, advisor, or self-employed individual, whether paid or unpaid) and engages in: • commercial or retail banking, including, but not limited to, commercial, institutional and personal trust, custody and/or lending and processing services, originating and servicing mortgages, issuing and servicing credit cards, payment servicing or processing or merchant services, • insurance, including but not limited to, guaranteeing against loss, harm, damage, illness, disability or death, providing and issuing annuities, acting as principal, agent or broker for purpose of the forgoing, • financial, investment or economic advisory services, including but not limited to, investment banking services (such as advising on mergers or dispositions, underwriting, dealing in, or making a market in securities or other similar activities), brokerage services, investment management services, asset management services, an...
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Average Tangible Common Equity for any period, as applied to the Company or any company in the Comparison Group, means the average tangible common equity for such period, as reported by S&P Global.
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Average Tangible Common Equity means the average tangible common equity as reported by SP Global Markets (i.e., the average daily balance of total shareholders’ equity less the average daily balance of the carrying value of goodwill and intangibles for each annual period). (a) Company ROATCE” calculated by dividing the Company’s Core Net Income by the Company’s Average Tangible Common Equity. During the Performance Period, any provision expense related to the establishment of Allowance for Credit Losses on a portfolio of acquired loans and leases shall be added back to Core Net Income, both for the Company and, to the extent possible based on public filings, for companies within the Comparator Group.
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Average Tangible Common Equity means the average tangible common equity as reported by SP Global Markets (i.e., the average daily balance of total shareholders’ equity less the average daily balance of the carrying value of goodwill and intangibles for each annual period). (b) “Company ROATCE” calculated by dividing the Company’s Core Net Income by the Company’s Average Tangible Common Equity. During the Performance Period, any provision expense related to the establishment of Allowance for Credit Losses on a portfolio of acquired loans and leases shall be added back to Core Net Income, both for the Company and, to the extent possible based on public filings, for companies within the Comparator Group. (c) “Comparator Group” shall include the companies set forth on Attachment I (each, a “Peer Company”). (d) “Comparator Group ROATCE” shall be calculated for each member of the Comparator Group by dividing such company’s Core Net Income by such company’s Average Tangible Common Equity. (e) “Core NET Income” shall be calculated based on the applicable company’s net income adjusted for realized gains or losses on securities, merger expenses, other nonrecurring items as defined by SP Global Markets, and amortization of intangibles and goodwill impairment for each of the three years in the Performance Period. (f) “Performance Objective” means Company Core Return on Average Tangible Common Equity (ROATCE) compared to Comparator Group ROATCE. (g) “Performance Period” means January 1, 2022 – December 31, 2024. II. Performance Matrix. Company ROATCE Relative to Comparator Group ROATCE Degree of Performance Attainment Company ROATCE Relative to Comparator Group ROATCE(1) Performance Factor Maximum ≥ 75th Percentile 200% Target ≥ 50th Percentile 100% Threshold ≥ 25th Percentile 25% Less than Threshold < 25th Percentile 0 (1) Payouts between performance levels will be determined based on straight line interpolation. III.
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Related to Average Tangible Common Equity

  • Adjusted Total Assets means, for any Person, the sum of:

  • Total Asset Value means, on any date of determination, the sum (without duplication) of (a) the Consolidated Group’s Ownership Share of NOI for the period of four full fiscal quarters ended on or most recently ended prior to such date (excluding the Consolidated Group’s Ownership Share of NOI for any Property not owned or leased for the entirety of such four fiscal quarter period), and divided by the Cap Rate, (b) the aggregate cash acquisition price paid to a Person that is not an Affiliate of the Borrower for Properties (other than unimproved land, or properties that are under construction or otherwise under development and not yet substantially complete) that were owned, or ground leased pursuant to an Eligible Ground Lease, as of the last day of the fiscal quarter ended on or most recently ended prior to such date for a period less than four full fiscal quarters, plus the amount of capital expenditures actually spent by the Borrower or a consolidated Subsidiary thereof in connection with such Properties, (c) Cash and Cash Equivalents, (d) investments in marketable securities, valued at the lower of GAAP book value or “market” as of the end of the fiscal quarter ended on or most recently ended prior to such date, (e) the aggregate GAAP book value of all unimproved land and properties that are under construction or otherwise under development and not yet substantially complete owned or leased as of the last day of the fiscal quarter ended on or most recently ended prior to such date and (f) the aggregate GAAP book value of mortgage notes receivable as of the last day of the fiscal quarter ended on or most recently ended prior to such date. The Consolidated Group’s Ownership Share of assets held by Unconsolidated Affiliates (excluding assets of the type described in clauses (c) and (d) above) will be included in the calculation of Total Asset Value on a basis consistent with the above described treatment for Wholly-Owned assets; provided, that notwithstanding the foregoing, for purposes of calculating Total Asset Value at any time, Investments in excess of the following limitations on specific classes of Investments shall be excluded from such calculations, but, for avoidance of doubt, shall not be a Default or Event of Default:

  • Consolidated Total Asset Value means the sum of (a) Total Asset Value of the Borrower and its Subsidiaries on a consolidated basis plus (b) without duplication, the Borrower’s Pro Rata Share of Total Asset Value of each Material Joint Venture.

  • Adjusted Value as used in subdivision (d) means: