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Ally Financial Inc. (ALLY) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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Ally Financial Inc.

CIK: 40729 Ticker: ALLY

Exhibit 99.1

 

LOGO

News release: IMMEDIATE RELEASE

Ally Financial Reports Fourth Quarter and Full-Year 2021 Financial Results

Full-Year 2021 Net Income of $3.1 billion, $8.22 EPS, $8.61 Adjusted EPS1

Fourth Quarter Net Income of $652 million, $1.79 EPS, $2.02 Adjusted EPS1

 

       

Full-Year 2021 Results

       
                        
    

 

PRE-TAX INCOME

$3.9 billion

 

  

 

TOTAL NET REVENUE

$8.2 billion

 

  

 

ROE

20.2%

 

  

 

CORE ROTCE1

24.3%

 

    
                   

 

     

Fourth Quarter 2021 Results

   
                 
   

 

PRE-TAX INCOME

$899 million

   

 

ROE

16.8%

   

 

COMMON SHAREHOLDER EQUITY

$43.58/share

   
   
   

CORE PRE-TAX INCOME1

$994 million

   

CORE ROTCE1

22.1%

   

ADJUSTED TANGIBLE BOOK VALUE1

$38.73/share

   
                         

 

LOGO

 

•  Earnings per share (EPS) of $1.79, down 1% year over year (YoY); Adjusted EPS1 of $2.02, up 26%YoY

 

 

•  Total Net Revenue of $2.2 billion, up 11% YoY; Adjusted Total Net Revenue1 of $2.2 billion, up 17% YoY

 

 

•  Pre-Provision Net Revenue of $1.1 billion, up 16% YoY; Core Pre-Provision Net Revenue1 of $1.1 billion, up 29% YoY

 

 

•  Common Shareholder’s Equity per Share of $43.58, up 11% YoY; Adjusted Tangible Book Value per Share1 of $38.73, up 7% YoY

 

 

•  Retail deposit growth of $3.1 billion quarter over quarter (QoQ) with average retail portfolio interest rate declining 4 basis points (bps) QoQ to 0.61%

 

 

•  Consumer auto originations of $10.9 billion, up 20% YoY

 

 

•  Closed acquisition of Fair Square Financial (FSF) in December 2021; $953 million of loan balances at year-end, up 66% YoY2

 

LOGO

 

•  EPS of $8.22, up 186% YoY; Adjusted EPS1 of $8.61, up 185% YoY

 

 

•  Total Net Revenue of $8.2 billion, up 23% YoY; Adjusted Total Net Revenue1 of $8.4 billion, up 25% YoY

 

 

•  Pre-Provision Net Revenue of $4.1 billion, up 44% YoY; Core Pre-Provision Net Revenue1 of $4.3 billion, up 47% YoY

 

 

•  Established leader in dealer financial services offering comprehensive suite of auto finance and insurance products

   

 

–   Estimated retail auto originated yield of 7.10% fourth consecutive year greater than 7%

   

 

–   Consumer auto originations of $46.3 billion, up 32% YoY sourced from a record 13 million applications

   

 

–   Retail auto net charge-off rate of 0.31%, down from 0.96% in 2020

   

 

–   Insurance segment generated written premiums of $1.2 billion across F&I and P&C offerings

 

 

•  Leading, digital-first Ally Bank platform generated strong growth across consumer and commercial product suite

   

 

–   Retail deposits of $134.7 billion, up $10.3 billion YoY; Retail deposit customers increased by 226 thousand YoY to 2.48 million

   

 

–   Ally Home® direct-to-consumer originations of $10.4 billion, up 123% YoY

   

 

–   Ally Invest net customer assets of $17.4 billion, up 24% YoY; Self-directed and Robo accounts up 11% YoY to 506 thousand

   

 

–   Ally Lending origination volume of $1.2 billion, up 147% YoY; 3.0 thousand merchants, up 37% YoY

   

 

–   Corporate Finance held-for-investment loan portfolio of $7.8 billion, up 29% YoY; Record full-year commitments originated of $7.3 billion

 

 

•  Board of Directors authorized up to $2.0 billion in common share repurchases for 2022, and increased quarterly common dividend 20% to $0.30 per share

 

 

1The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Adjusted Earnings per Share (Adjusted EPS), Adjusted Total Net Revenue, Core Pre-Tax Income, Core Net Income Attributable to Common Shareholders, Pre-Provision Net Revenue (PPNR), Core Pre-Provision Net Revenue (Core PPNR), Core OID, Core Return on Tangible Common Equity (Core ROTCE), Estimated Retail Auto Originated Yield, Tangible Common Equity, Net Financing Revenue (excluding Core OID) and Adjusted Tangible Book Value per Share (Adjusted TBVPS). These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital. Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this release.

2Acquisition closed on 12/1/21 and the full-year impacts are for comparison purposes only and aren’t reflected in our metrics.


The following information was filed by Ally Financial Inc. (ALLY) on Friday, January 21, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover Page
Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet (Parenthetical)
Condensed Consolidated Balance Sheet (Vies)
Condensed Consolidated Statement Of Cash Flows
Condensed Consolidated Statement Of Changes In Equity
Condensed Consolidated Statement Of Changes In Equity (Parenthetical)
Consolidated Statement Of Income
Statement Of Comprehensive Income
Accrued Expenses And Other Liabilities
Accrued Expenses And Other Liabilities (Schedule Of Accrued Expenses And Other Liabilities) (Details)
Accrued Expenses And Other Liabilities (Tables)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Reclassification Out Of Accumulated Other Comprehensive Income) (Details)
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income) (Details)
Accumulated Other Comprehensive Income (Tables)
Acquisitions
Acquisitions (Details)
Acquisitions (Narrative) (Details)
Acquisitions (Tables)
Contingencies And Other Risks
Contingencies And Other Risks (Details)
Debt
Debt (Committed Funding Facilities) (Details)
Debt (Long-Term Debt) (Details)
Debt (Narrative - Trust Preferred Securities) (Details)
Debt (Pledged Assets Related To Secured Borrowings And Repurchase Agreement) (Details)
Debt (Schedule Of Short-Term Debt) (Details)
Debt (Scheduled Remaining Maturity Of Long-Term Debt) (Details)
Debt (Tables)
Deposit Liabilities
Deposit Liabilities (Schedule Of Deposit Liabilities) (Details)
Deposit Liabilities (Tables)
Deposit Liabilities (Time Deposit Maturities) (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Derivative Instruments Designated As Fair Value Hedges, Gain (Loss)) (Details)
Derivative Instruments And Hedging Activities (Derivative Instruments Used In Net Investment Hedge Accounting Relationships) (Details)
Derivative Instruments And Hedging Activities (Details)
Derivative Instruments And Hedging Activities (Fair Value Amounts Of Derivative Instruments Reported On Our Condensed Consolidated Balance Sheet) (Details)
Derivative Instruments And Hedging Activities (Interest And Amortization On Derivative Instruments) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Fair Value Hedging Instruments, Statements Of Financial Performance And Financial Position, Location) (Details)
Derivative Instruments And Hedging Activities (Statement Of Gains And Losses On Derivative Instruments Reported In Statement Of Comprehensive Income) (Details)
Derivative Instruments And Hedging Activities (Tables)
Description Of Business, Basis Of Presentation, And Significant Accounting Policies
Description Of Business, Basis Of Presentation, And Significant Accounting Policies (Details)
Description Of Business, Basis Of Presentation, And Significant Accounting Policies (Policies)
Earnings Per Common Share
Earnings Per Common Share (Schedule Of Basic And Diluted Earnings Per Common Share) (Details)
Earnings Per Common Share (Tables)
Equity
Equity (Details)
Equity (Narrative) (Details)
Equity (Schedule Of Preferred Stock) (Details)
Equity (Tables)
Fair Value
Fair Value (Fair Value Measurements - Nonrecurring Basis) (Details)
Fair Value (Fair Value Measurements - Reconciliation Of Level 3 Assets And Liabilities) (Details)
Fair Value (Fair Value Measurements - Recurring Basis) (Details)
Fair Value (Fair Value, By Balance Sheet Grouping) (Details)
Fair Value (Tables)
Finance Receivables And Loans, Net
Finance Receivables And Loans, Net (Allowance For Credit Losses On Financing Receivables) (Details)
Finance Receivables And Loans, Net (Commercial Concentration Risk) (Details)
Finance Receivables And Loans, Net (Commercial Criticized Risk Exposure) (Details)
Finance Receivables And Loans, Net (Consumer Concentration Risk) (Details)
Finance Receivables And Loans, Net (Finance Receivables And Loans Redefaulted During The Period) (Details)
Finance Receivables And Loans, Net (Financing Receivable Credit Quality Indicators Commercial) (Details)
Finance Receivables And Loans, Net (Financing Receivable Credit Quality Indicators Consumer) (Details)
Finance Receivables And Loans, Net (Past Due Financing Receivables And Loans Commercial) (Details)
Finance Receivables And Loans, Net (Schedule Of Accounts, Notes, Loans And Financing Receivables) (Details)
Finance Receivables And Loans, Net (Schedule Of Financing Receivables, Nonaccrual Status) (Details)
Finance Receivables And Loans, Net (Schedule Of Purchases Of Financing Receivables And Loans) (Details)
Finance Receivables And Loans, Net (Schedule Of Sales Of Financing Receivables And Loans) (Details)
Finance Receivables And Loans, Net (Tables)
Finance Receivables And Loans, Net (Troubled Debt Restructurings) (Details)
Guarantees And Commitments
Guarantees And Commitments (Contractual Commitments) (Details)
Guarantees And Commitments (Financing Commitments) (Details)
Guarantees And Commitments (Schedule Of Guarantor Obligations) (Details)
Guarantees And Commitments (Tables)
Income Taxes
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit)) (Details)
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details)
Income Taxes (Schedule Of Unrecognized Tax Benefits Roll Forward) (Details)
Income Taxes (Summary Of Valuation Allowance) (Details)
Income Taxes (Tables)
Insurance Premiums And Service Revenue
Insurance Premiums And Service Revenue (Details)
Insurance Premiums And Service Revenue (Tables)
Investment Securities
Investment Securities (Investment Income) (Details)
Investment Securities (Investment Portfolio) (Details)
Investment Securities (Investments Classified By Contractual Maturity Date) (Details)
Investment Securities (Investments Classified By Credit Rating) (Details)
Investment Securities (Schedule Of Realized Gain (Loss)) (Details)
Investment Securities (Schedule Of Unrealized Loss On Investments) (Details)
Investment Securities (Tables)
Leasing
Leasing (Ally As The Lessee) (Details)
Leasing (Ally As The Lessor) (Details)
Leasing (Depreciation Expense On Operating Lease Assets) (Details)
Leasing (Lease, Cost) (Details)
Leasing (Lessee, Operating Lease, Liability, Maturity) (Details)
Leasing (Lessor, Operating Lease, Payments To Be Received, Maturity) (Details)
Leasing (Sales-Type And Direct Financing Leases, Lease Receivable, Maturity) (Details)
Leasing (Tables)
Offsetting Assets And Liabilities
Offsetting Assets And Liabilities (Details)
Offsetting Assets And Liabilities (Tables)
Other Assets
Other Assets (Intangible Assets) (Details)
Other Assets (Schedule Of Goodwill) (Details)
Other Assets (Schedule Of Other Assets) (Details)
Other Assets (Summary Of Equity Securities Without Readily Determinable Fair Value) (Details)
Other Assets (Tables)
Other Income, Net Of Losses
Other Income, Net Of Losses (Schedule Of Other Income, Net Of Losses) (Details)
Other Income, Net Of Losses (Tables)
Other Operating Expenses
Other Operating Expenses (Schedule Of Other Operating Expenses) (Details)
Other Operating Expenses (Tables)
Parent Company Condensed Financial Information
Parent Company Condensed Financial Information (Condensed Balance Sheet) (Details)
Parent Company Condensed Financial Information (Condensed Statement Of Cash Flows) (Details)
Parent Company Condensed Financial Information (Condensed Statement Of Comprehensive Income) (Details)
Parent Company Condensed Financial Information (Narrative) (Details)
Parent Company Condensed Financial Information (Tables)
Premiums Receivable And Other Insurance Assets
Premiums Receivable And Other Insurance Assets (Details)
Premiums Receivable And Other Insurance Assets (Tables)
Regulatory Capital And Other Regulatory Matters
Regulatory Capital And Other Regulatory Matters (Common Share Repurchases) (Details)
Regulatory Capital And Other Regulatory Matters (Depository Institutions) (Details)
Regulatory Capital And Other Regulatory Matters (Schedule Of Regulatory Capital Amount And Ratios) (Details)
Regulatory Capital And Other Regulatory Matters (Tables)
Reserves For Insurance Losses And Loss Adjustment Expenses
Reserves For Insurance Losses And Loss Adjustment Expenses (Rollforward Of Reserves For Insurance Losses And Loss Adjustment Expenses) (Details)
Reserves For Insurance Losses And Loss Adjustment Expenses (Short-Duration Contracts, Schedule Of Historical Claims Duration) (Details)
Reserves For Insurance Losses And Loss Adjustment Expenses (Short-Duration Insurance Contracts, Claims Development) (Details)
Reserves For Insurance Losses And Loss Adjustment Expenses (Short-Duration Insurance Contracts, Reconciliation Of Claims Development To Liability) (Details)
Reserves For Insurance Losses And Loss Adjustment Expenses (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Disaggregation Of Revenue) (Details)
Revenue From Contracts With Customers (Tables)
Securitizations And Variable Interest Entities
Securitizations And Variable Interest Entities (Activity In Affordable Housing Program Obligation) (Details)
Securitizations And Variable Interest Entities (Narrative) (Details)
Securitizations And Variable Interest Entities (Schedule Of Cash Flow Received From And Paid To Nonconsolidated Securitization Entities) (Details)
Securitizations And Variable Interest Entities (Schedule Of Quantitative Information And Net Credit Losses About Securitized And Other Financial Assets Managed Together) (Details)
Securitizations And Variable Interest Entities (Schedule Of Variable Interest Entities) (Details)
Securitizations And Variable Interest Entities (Tables)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Share-Based Compensation Plans
Share-Based Compensation Plans (Details)
Share-Based Compensation Plans (Tables)
Subsequent Events
Subsequent Events (Details)
Ticker: ALLY
CIK: 40729
Form Type: 10-K Annual Report
Accession Number: 0000040729-22-000007
Submitted to the SEC: Fri Feb 25 2022 4:04:07 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: State Commercial Banks

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