8) Barry Bank reports total assets of $1.6B, total liabilities of $1.4B, and has set a target ROE of 12.0% for 2023. What is its net income target ($) for 2023?

9) Barry Bank (from # 8) also reported non-interest income of $3 million and non-interest expense of $16 million, what must the bank earn in net interest income in order to reach its goal?

10) If Barry Bank (from # 8 and # 9) pays $6.0 million in interest on borrowed funds, pays $16.5 million in interest on $1.1 billion in deposits, and earns $1.5 million in interest income on $150 million in marketable securities, what interest rate must it earn on its $1,300 million loan portfolio in order to reach its net income target?

Asset / Liability	$ Balance	Interest Rate (%)	$ Income / (Expense)
Cash	$150M	0.0%	$0M
Marketable Securities	$150M	1.0%	$1.5M
Loans	$1,300M	# 10	Calculate for # 10 answer
Deposits	$1,100M	1.50%	($16.50M)
Borrowed Funds	$300M	2.0%	($6.0M)
Net Interest Income			# 9
Plus: Non-Interest Income			$3M
Less: Non-Interest Expense			($16M)
Net Income		12.00% ROE target	# 8