and Operating morning able Mike Financial Lebel; conference call Officer, who have Jill, our quarter joined you, I'm Officer, Fitzpatrick. Chief morning, all good by XXXX been fourth to our Joe today. earnings join to Chief Thank and This
we As you. pleased discuss with results appreciate and our operating able are our to be performance to always, interest in your
highlight XXXX. will look to we our the taking regarding from questions. discuss key environment and few some we color morning, This to the quarter, results, operating the views After then items that, for add a your forward
earnings of a the the and Jersey In by fees, $X.X merger-related impacted were net quarter, benefit. million in in That tax terms consolidation state share GAAP related non-recurring financial Quarterly totaled per that $X.XX. income Tax results professional of reported Code change share expense earnings a fourth core New tax to were federal expenses, of for in results diluted $X.XX. earnings per charges, reduction branch
related some interest headwinds subject were IT migrations. equipment expenses end-of-life related to Earnings margin to net and to accelerated
positioned in quarters. additional for plateaued the improve interest as quarter, compression growth loan compensate margin the few to XXXX any net may and is over Net income during next
Two the benefits on will more the Bank which we provide call. improve X River both have color acquisitions the January conditions Operating later closed Joe of also as operating to positioned year. is acquisitions on the and and the on efficiency scale Country this of integration of
for XXnd $X.XX, cash $X.XX Management of conservative quarterly quarter, XX% declared dividend. dividend company's dividend the Capital the core a the earnings. of consecutive represents cash The quarterly Regarding a board payout
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growth organic internally provides our generated opportunity trajectory put work. First, capital to the to
the month. deploy worth our opportunity Second, experience opportunity Two has an million acquisition to capital; acquisition $XX provided this just capital to provides the deploy River of
at At million $XX Board repurchase opportunity repurchases efficient X.X valuation, repurchase our effective of The be purchase million Finally, to to which capital new shareholders. current today's approved December share returned valuation. and would plan that the are the in shares. plan to provides enable
shares $XX.XX X.X company has During average $XX.X to of surplus capital cost returning million repurchased of XXXX, the million an at our shareholders.
fell positioned prior-quarter the income and to from in but appears net slightly Core for leveling-off improvement XXXX. be is
in The QX moving was the due Net in quarterly to million strong into larger balance $XXX approximately than average the loan larger Loan compression, was than should $XX year-end pipelines remain average and forward. flat build going interest XXXX. income portfolio quarterly QX. but approximately million margin balance
workstation elevated to were lifecycle our staff as opted and to IT we expenses operating quarter augment accelerate upgrades. Fourth server
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provide their financial of progress. and XXXX of Bank businesses will benefits contributions Two the immediate and addition some will as course strengthen over the River integrations Finally, Country
points and assets. just Net year used charge-offs for of strong. than XX totaled non-performing signs basis Delinquencies total Our the remains were balance points. basis less no three have and concern risk quite sheet rating of assets
per increase book over XXXX. year-end X% a Tangible $XX.XX, value year at the share ended
per share three Over tangible past or value XX%. book increased $X.XX the years, has by
focused remain we acquisitions, significant of metric. on period this a During
company. I quarterly Joe longer-term speak to the of take talk about will the to I'd the this performance opportunity metrics let as later, operating like to
was At assess can that it provisions a outlook short-term creation. category. quarterly net I into recent focus environment, presentation, trends margin, most metric disappointing. investor considering the to After make In asked current rates, investor on and difficult long-term the which emphasis question changes found the the interest for I falls value responded and I that on tax
of of long-term the toward consider ability business, a indicators we wide As our thrive an look for variety we operating over to prospects environments.
operating non-performing are Those net and which stakes are certain return performance return bank interest table include efficiency, equity, required there said asset metrics. charge-offs levels. That net assets, on margin, on
include in common competitive. X.XX%, tangible equity basis XX.X%, areas each performance return of of X.XX%, of metrics ratio of a are XX and on just points these basis efficiency of charge-offs core return of XX.X%, non-performing points, X.X on results Our NIM of XXXX assets. assets just core net totaling assets total
one to remain two should measures The cause of our margins but in current environment compression interest competitive rate quarters, another some will that. for performance additional regardless
meantime, consistent on to our operating value opportunity creation growth a basis. rests efficiency the in ability In and revenue an longer-term improve
that the are acquisition, growth growth, produce digital three via levers to organic have and ability provide acquisition. customer traditional We Those revenue growth.
During all XXXX, we performance in three areas. demonstrated
in the loans XX% of production new annual lift organic in our Philadelphia markets, an billion. New entry commercial by to York in $X.X $XXX On basis, over into those and helping loan origination to organic resulted million
acquisitions. completed our increase as to Two important scale we were and well opportunity River bank whole Regarding as sixth and Country Bank efficiency. the acquisitions, They which seventh deliver the acquisitions
deposit of which acquisition more the efforts our branch We've years than XX, completed deposits past XX operating are most five of consolidations digital address expenses lowest growing in total peers. the the high of delivering costs enabled satisfaction branches. our multi-year the to the bank XXXX, front, quickly total will consolidations June evidence activation Mobile to By Northeast. beginning have branch results. over levels these drive one while and On rates customer
a products new advisor meaningful are they robo figures have are over meaningful of These drive the our process represent not high delivered in and total profits relationships. portion hybrid X,XXX generating new these our relationships. mobile of product new numbers addition, enough short-term to In Combined customers. account opening but digital
teaching Our digital retain us experience clients. digital and to how service, attract, is
economics is priced our unit attractive The are with highly products conservatively. very as associated both products
The branch is advantage. and in opportunities while an through incredibly ability acquisitions our scale, to efficiency. increase improve function important digitally our focus time. operating digital to provides cost growth important revenue reduces step over our to Organic is consolidation. Equally improvements enabling rapid addition to service organically efficiencies in the to ability acquisitions clients And provides drive consistent
and stakes strongly run. profitability, business earnings positioned on and well growth. is focused highly margins, table share of thrive today in remain The the We the to performs per sheet balance quality, long
threshold. about I'd be like the also clear to strategy $XX billion related regulatory to our
in in and originations we’ve up the economy become XXXX, quarters. picked the high steam, our quality more optimistic upcoming regarding as organic As loan far organic the growth as stabilized opportunity
fall assets, our the the revenue environment additional closing begun over external the the January $XX.X Durbin and the in the quarters. with X, XXXX billion growth on We next have we acquisitions is XXXX. recent six the Based on able to shift of Amendment. after midnight in just to organic with positioned consistent organic Having growth, total confidence increased reduction most approximately offset growth bank time for associated
the be is year assets. $XX XXXX Building manner. but Durbin years in billion in the X, with result, accomplished calendar can July will in on finished Amendment a more scale additional coming XXXX, be an impact we than As organic important, effective provided
to It important evidence regarding is bias we continue conservative acquisitions. that a
strategy. growth important to While an organic remain our acquisitions performance, most business provide improved needs important lever to
some point, this more turn conditions of and I’ll At over the provide the Joe to many Lebel discussion color outlined initiatives I've additional to regarding regarding earlier. operating details
