morning. joining you Please slide to for turn three. Thank Good us.
fourth opened U.S. year on Scotiabank Puerto reported Before Rico an an the on results, we and update and quarter market with Islands update our and acquisition today, end Virgin CECL.
publicly to staff, result who joined welcome new like I'd clients a our acquisition. us of customers, have as and our
providing committed customers excellent and for and excellent our to service, for products clients. are We our staff and technology opportunities
our excited prospects are the growth. for about We future
and place on and capital and metrics Because the of metrics our balance sheet XXst, operations But liabilities. year-end assets the acquisition income plus our reflect fourth pre-acquisition closing newly quarter statement our December took XXXX reflect credit and acquisition-related acquired expenses. our
for third in to that was restructuring loans business. decided because $X.XX and sell quarter mainly merger very on per acquisition our of million added we in million We the in charges fourth The loss build closing and $XX.X the provision $X.X of continuing a quarter. non-performing the while busy had to share
portfolio we Net strong. loan to the transition our our as reduce high-cost lower managed operations the proactive Core funding. quarter wholesale variable-rate to interest yields margin commercial on with effort as slightly X.XX%, last same was were
the comeback Most the the production metrics improved. was since second credit XXXX. quarter Loan post-hurricane highest of
on quarter, loan acquisition. in developed ended obtained low-cost of that plan, a closed billion -- mark, the Scotiabank our for million X.XX% approvals non-resident and including accounting $XXX accounts. billion of $X after and the During core That in a $X.X we deposits integration reduction net loans, all regulatory added
of transaction In final core addition, and merger and OFG the tangible many of originally impact better the assumed, their than deposit on details and value intangible, amount dilution. charges, book restructuring goodwill, were including
the merger billion, the of a compares $X.XX per share total to as was On basis, a billion. value restructuring year which sales. $X.XX, per $XX.XX, whole, assets of record stockholders' previously announced share ended of equity included share favorably That per XXXX. charges tangible $X.XX. the book $X.X at provision non-GAAP book earnings added Looking with and and share NPL for earnings and We of value year $XX.XX, per was
Please circumstances we turn all our despite to want earthquakes. their helping teams difficult to series of in recent some also exceptional from evacuees our their personal own slide work, thank four; for
and shelters in the the teams organize areas, earliest some of ground centers. relief Oriental As helped on affected
more meals, In some coordination other batteries, X,XXX we bottled with clients, and collaboration essentials. provided our of water, fans, and electric than
our The to possible engineers. and doctors been We structural of compassionate would not arranged quick response have teams also and clients. without access staff
all buildings main part was in of addition, loss our our proud and no operations remain We intact. employees, our and of on Thankfully, to are life there extremely communities. serve the
from net the quarter. five to At ago to Please There were were million, $XX.X third and down year performance. a three key revenues turn financial our slide review factors. core
acquired however, loans originated typical of was from continue a First, from income loans. down paybacks. generate we income, to to amount due growing Interest
in in the acquisition. the securities mortgage-backed third for securities $XXX Interest This million excess Rico totaling quarter. investment sales the quarter to income from million due generated Puerto was also $XXX the of and cash down Scotiabank second
other at efficiency common earnings look ratio covered up They and and so return to to average performance go value, affected down. merger and caused share already on book average let's tangible I've per were equity return metrics. tangible acquisition which by on all and go our costs, primarily assets
Efficiency some incremental also and contingent technology such health development operational by and $X.X expenses reserve affected insurance and as legal million million expenses. non-recurring of additional ratio in a was cost losses nature in $X.X
our As we of will begin range on in will additional require restructuring $XX this growth plans. we estimate and focusing full million. We the $X.X XXXX, be integration charges to million
highlights. down is largely important the slide presentation. our the to in to to review This six more NPL today's one slides of turn sales. operational were Please Loans
With the $X.X billion. how jumped billion loans Scotiabank to acquisition, you $X.X from can see
have continued in deposits grow XXXX. We core to
the With can jumped you see acquisition, billion. how from $X.X deposits to $X.X billion Scotiabank core
of As as large well as earlier, well. did and in particular, small loans which categories I corporate very quarter business in loan a strong closing the In middle-market totaled Puerto continued noted customers reflected loan we for All generation. $XXX million, had all growth commercial production, Rico.
cost yield in to CDs ticked plus from fairly above Loan cost steady points. while XX deposits brokered X.XX%, third the quarter and and year enable margin borrowings, ago basis with net at to That, of held keep level the us down levels. interest reduction the
capital. credit seven slide and to to turn Please review
fall our the net As begun rate non-performing of way, the loan on as loan well charge-off last non-performing our with our sales provision rate. we indicated as to has call, out and
addition on to destroyed previously at NPL a by included million insurance loan fourth fire. $X.X an for provision disclosed, sales originated pending property million allowance the in recoveries completely the remaining a was balance of for $X.X provision, that quarter quarter commercial fourth Looking
the for effective of be comparable more to now the similar-sized while acquisition, peers requirements in continuing well-capitalized use capital become to Scotiabank above excess capital ratios significantly regulatory of institution. Because have a
equity ratio the at and equity X.XX%. capital X common Tier So, XXst, common was ratio December the tangible XXXX, was XX.XX%
equity September it While XXth, stockholders' compared year-over-year. total X.X% X% to close declined to increased
outlook. for our slide eight Please turn to
generate with billion in record opportunity acquisition us with enabled a future excess to and The to growth. to XXXX. a more end our $X.X for loan deploy $X.X This billion well-positioned are and us provides earnings record effectively an loans in deposits. We XXXX excellent capital
Integration is underway. well
We are moving fast.
still While manage Scotiabank of XXXX optimistic our that from from Federal to strategic next. major and any earthquakes the we the reductions the objectives part Bank of this that economic three the effects and rate recent southern interest have island, will remain hit impact year some the potential of goals acquisition and all we achieve we of the Reserve
so proud with outlook are of very ahead. our to in quarters look We the forward and our far progress and share our excited accomplishments
question-and-answer you Operator, session. our formal ends listening. for presentation. That Thank start let's the
