good Thank evening Harris, and everyone. you,
and and on two equity. return on a fronts. This many on quarter this year solid begin key is As assets Harris highlights return said, profitability I'll metrics: good XX. a common our tangible in on opinion Slide
We exceed are X.X% for return encouraged even after to the items to assets XX%. on the return adjusting common infrequent on at tangible about again report and equity
continued shows or that leverage any quarter just fourth I'll were ago With strong period. We sheet balance loan, per of to a relative solid start demonstrate for interest million did to operating combine with to or XXXX. of X.X% in in average In rate solid quarter components, loan quarter to returns the our million and $X sheet returns. year fourth growth greater to quarters, either year XXXX, income expect with million recoveries have net balance to of move growth $XXX not XX result the prior ago prior capital $XX the recoveries revenue the expansion and performance the of the such but continued moment. out interest Zions’ some than in credit respect of Slide volume period we to we XX, Slide relative have the further On called of positive the XX%. to
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amortization premium funds a quarter of in accurately points at assuming term, near therefore of is year-over-year cost a stability there the The basis securities and total on linked-quarter XX% all to deposits over things prepayment increased to pace resulting higher dependent figures. a the and move but reminder, the the equal. other highly forecast should borrowed about the yield X As in and for upon difficult moderate funding beta portfolio X.XX%,
quarter The interest of net rate margin or year. prior Fed the which and the ago rate. As a X.XX% deposit interest refers and cost margin in the for in changes the relative basis interest XX borrowings beta the change net increased quarter, I’m the result over sorry to target in year X to to relative target from in from this XX% change net in target a funds the the -- rate of beta to points elements funds of margin the the in basis reminder, change These prior the combine Fed points the was change in case, costs the period.
of is of rate households, most accounts operating non-interest our for base Because of remain our the the environment. nature being non-interest-bearing increasing deposits and advantage. bearing of in our we expect businesses margin higher value substantial of a this deposits the One competitive to deposits most drivers expansion the of
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Federal expect with rates, the we Finally, that over driven be net if the relatively stable on-hold near-term, my remains Reserve factors comments. highlighted margin interest interest already the in should by
Slide of Next, on a changed to income sources listed income Customer-related million. page. brief this are the fees of The review over increased on prior primary X% year XX. non-interest $XXX that
the income fee For more than $XXX by year to customer-related increased full million. X%
from Non-interest XX realized of countercyclical, due banking is activity. effect mortgage to from and rate from year continued a strengthening million income expense activity management economy accelerate slight on $XXX treasury on when to balances, income We fee to degree income work to rate the Slide refinancing rising trend. the earnings growth, influenced hard to $XXX in possibly and the can headwind by higher fee tends fees million by environment quarter. in interest market create rates the those in are Similarly although deposits decreasing our fee increased ago for applied a to be to slowing which credits the
stronger about has non-interest being provision which adjusted in charitable most $XX If that as is items to to increased low higher items a and shareholders. been very I larger one the the passed outlook for modeled, ago expense million provided investors stable such However, that passed adjustment versus expense, million, $XXX was period other we than at or ago quality for of the $XXX further moderately than we core is originally which unfunded year was is performance to year-ago commitments adjusted credit of note and make growth that non-interest period. our usual single-digit. year and contribution outperformance But of the the X.X%, lending on would revenue severance, million adjusts also than similar
FDIC the to significant prior of a from As reduction of to Recall in we we year was objective which and discussed the consolidation large expense to served ratio surcharge we bank ago as was banks X.XX%. nearly charters. appearances FDIC surcharge had to expect FDIC period. drive various were the And experience in the met insurance quarter, that insurance in the $X XXXX, costs to insurance the our compared our about fund prior adjustment, a deposit the the insurance designed expense was this in that public the million large bank during ratio indeed prior quarter since the cumulative related fund quarter subject deposit and quarter, fourth by was of to because reserve million. quarter insurance $X eliminated our The reserve reduce FDIC to
second the compared ratio course the that year year Turning increase an to period ago first expense in of among income items. days the of full We excluding payroll to and seasonality compared the each our other efficiency first compensation of the possible below efficiency year the XX.X% the related XX, some Slide stock-based ratio of the in rate to ratio increases. and for tax them the to benefits reiterate achieve when year commitment XX% was of and XX.X%. efficiency has there XXXX to calculations quarter are The of half interest of seasonal to of more
questions. Thank slide. can which quarter this XXXX the as line XX relative This to on depicts fourth see Finally Latif, financial reported outlook on no you. would of our There you to XX, please outlook next throughout XXXX. that prepared months Slide concludes our change from quarter was this significant fourth is the the open for our the remarks. for you now of
