On April $2,2020,$ shortly after the $$7\mathrm{.}5$ million deposit outflow, Key Bank had borrowed the needed fund in the fed funds market to cover the shortfall in

reserves for the remainder of the month $(29$ days, from $\frac{4}{2}$ to $\frac{4}{30}).$ The required yield on a discount basis was $1\mathrm{.}5\%.$

On April $30,2020,$ Key Bank finally received the first required payments from its mortgages, loan, and T$-$bills, and it also paid off its fed funds loan. Key Bank

was required to establish a loan loss reserve at $0\mathrm{.}5\%$ of the commercial loan value and the bank was in the $35\%$ tax bracket. The bank had not engaged in any

off$-$balance$-$sheet activities.

Question: What was the bank's ROA for its first month of operation?

$0\mathrm{.}10\%$

$0\mathrm{.}37\%$

$0\mathrm{.}28\%$

$0\mathrm{.}15\%$