Question
As the Treasurer of Classic Rock bank, you have been given the following information in $ thousands. Assume the year base is on a 365
As the Treasurer of Classic Rock bank, you have been given the following information in $ thousands. Assume the year base is on a 365 day actual basis and it is the results are for the quarter ending 3Q 2022 (92 days). Calculate the Efficiency Ratio. Round up to the nearest whole decimal.
Total Average Assets = $ 7,717,401
Total Average Earning Assets = $ 7,230,743
Total Average Shareholders (Owners) Equity = $ 781,311
Interest Income = $ 66,725
Interest Expense = $ 5,732
Non-Interest Income = $ 16,249
Non-Interest Expense = $ 49,662
Provision for Loan Losses = $ 2,303
Net Income After Taxes = $ 18,747
Average Shares Outstanding = 61,905,095 (Actual)
Group of answer choices
61.8%
60.4%
64.3%
64.0%
59.2%
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