Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As the Treasurer of Classic Rock bank, you have been given the following information in $ thousands. Assume the year base is on a 365

image text in transcribed
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 2021 (92 days). Calculate the Return on Equity. 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) . 8.86% O 9.52% O 9.56% O 9.66% O 10.26%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Of Health Care Organizations

Authors: William N. Zelman, Michael J. McCue, Noah D. Glick

3rd Edition

0470497521, 9780470497524

More Books

Students also viewed these Finance questions

Question

What is meant by the term industrial relations?

Answered: 1 week ago