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      "text": "1. Levered yield includes interest income, accretion of discount, MSR creation, income from unconsolidated joint ventures, realized gains (losses) on loans held for sale, unrealized gains (losses) on loans held for sale and servicing income net of interest expense and amortization of deferred financing costs on an annualized basis. 2. GAAP ROE is based on GAAP Net Income, while Distributable ROE is based on Distributable Earnings, which adjusts GAAP Net Income for certain items detailed on the \"Distributable Earnings Reconciliation\" slide. 3. ROE based on net income before tax of the Residential Mortgage Banking business",
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      "text": "line divided by the business line's average monthly equity. 4. Includes Employee Retention Credit processing fee income 5. Non-recurring gains, losses and expenses before applicable tax expenses. 6. Loan loss provision increased due to changes in forecasted macroeconomic inputs for reserve modeling, particularly related to the tightening of monetary policy driven by rising inflation, and geopolitical tensions.",
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      "text": "GAAP ROE (2) Distributable ROE (2) Q4'22 Q3'22 FY 2022 Q4'22 Q3'22 FY 2022 12.3% 14.8% 15.2% 12.7% 12.4% 13.4% Corporate leverage, net of non-earning assets 2.9 4.4 4.7 3.3 3.1 3.7 Gross return on equity 15.2% 19.2% 19.9% 16.0% 15.5% 17.1% Realized & unrealized gains, net 2.8 3.0 2.9 2.8 3.0 2.9 Loan loss provision (7.8) (6) (0.8) (2.1) (0.7) (0.2) (0.1) PPP revenue, net of direct expenses (4) 1.2 4.8 4.3 1.2 4.8 4.3 Non-recurring gains, losses and expenses (5) (1.2) (0.3) (0.9) - - - Operating expenses (6.0) (8.4) (8.5) (5.7) (8.1) (8.1) Investment advisory fees (1.7) (1.4) (1.4) (1.7) (1.4) (1.4) Provision for income taxes 0.7 (1.1) (1.8) - (0.4) (1.4) Dividends on preferred stock (0.5) (0.5) (0.5) (0.5) (0.5) (0.5) Return on equity 2.7% 14.5% 11.9% 11.4% 12.7% 12.8%",
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      "text": "Segment Levered Yield (1) Distributable Levered Yield (1) Equity Allocation SBC Lending and Acquisitions 11.6% 11.6% 90.0% Small Business Lending 42.1% 42.1% 4.8% Residential Mortgage Banking (3) (1.5) % 6.6% 5.2%",
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