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we the realistically will quarter reprocessed market in This million OREO properties, third disposing the There fact achieved not is quarter. handling what go gain of has and this net always Traditionally this more provided back happens. million $X.X this additional gain normalized opportunity. is -- cost eventually some the to but in levels. operating will be In net $X.X and
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to ratio expense our of even normalized take levels will us However, target XX%.
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On the at allowance, the also end to quarter. made Aurelio third quarter from the $XXX the the down million, allowance it's reference $XX was million of
that improvement reflects and projected allowance Looking million on variables down. that at ACL. million are macroeconomic used was allowance calculate on $XXX on finance the and which reduction $XX is Basically be to loans are the leases to just all continue variables
of And on increased be considering of reserve the impact hotel monitoring the that The we establishment entertainment the However, assessment ratio the The to reserves. transportation industry. those customers Aurelio impact at on and number quarter. the the continues are of as of especially last we closely Omicron cases we have that the significantly we are do stand variant. strong. that the qualitative mentioned X.XX% of part in in
just On capital with continue plan. it the front, the again the capital to of touch execution we
redemption $XX for the actions on dividends. repurchased capital million. paid were repurchases million XXXX, the shares stock $XX common $XXX totaling have year that preferred quarter, fourth million common the the in in we and XX.X million were of million the the in top For preferred shares and Throughout of $XXX redeemed
the maintaining the are However, of execution earnings significantly strategies our with strong well-capitalized. capital even the ratio capital
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questions. before. for continue we have like the as would So, to that, mentioned to I for action call space ample capital Aurelio open With
