• Target average return on tangible equity for 2023 was 27.53, a 31.07% increase from 2022.
• Target average return on tangible equity for 2022 was 39.94, a 5.56% decline from 2021.
• Target average return on tangible equity for 2021 was 42.29, a 49.22% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.