of Thank Angel. third Mae's Sallie quarter discussion joining you. XXXX a Matthew, Good for morning, for everyone. you us results. Thank
today everyone away to Let take I'd remained start you navigate Today, me times. listening and messages. has challenging like well three saying hope I we these that healthy, as continue by to
these and about economy, Sallie have a well we to are we impact Mae relative seeing. the the are trends the operate optimistic pandemic on while continues First, cautiously continues to expectations, to dramatic
forward strategic transition Second, look to we key delivering sharing shifting early progress today. conclude our as my some from you discussed with results. our on last developing We to to of the Sallie imperatives call are I Mae,
XXXX. us gives give is XXXX our and on stabilizing, how end Lastly, confidence which will insights on to to outlook financial thoughts begin some share
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negative As result, is a on for earnings a spending. with impact group materially higher, unemployment this greater and
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federal you borrowers hold also our of know, most As loans.
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time. of loan the in are is condensed on-campus Schools continue schools ways This find largest good operations a spring. recently to of its originations continue announced its students in spread COVID-XX to the working schedule sign. terms while managing One the at our hybrid same will of
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higher result, our end in originations on discussed As the earnings a our of call. season last the on we range peak came
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you Over the shareholder to six our about and months, last talk imperatives strategic heard value. me commitment our
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$XX efficiency continue important charge in million expenses of the XXXX, booked but we a lead this not effort one-time exercise. is of million sources we related in it we annual $XX pursue resulted to to that a restructuring third addition, our business. In non-people in It's This done of quarter across that beginning a note ongoing reduction and expect XXXX. to one will our in
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our additional made allocating the imperative of toward well. during better have progress quarter as capital We
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addition our run continues ASR course. its to natural to this program and sheet preset In balance change,
as point, the of shares buy this more Our in At counterparty outstanding increases be loan will sale, of XX% quarter ASR XXXX back schedule the current value to the of more long-term quarter anticipate we value our shareholders. of to first creating program, the with on wrap-up only our and program the stock this therefore, first price is proceeds able for complete, XXXX.
sale As to from caused pandemic. look continues by next year, the loan market the to pause we the recover
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on business, Before we Steve more to over core quarter. Steve? of the review from call for like I'd results detailed the move of a this the to turn
