and morning everyone. good Richard Thank
with the sheet changes. begin balance Let’s
just and identified $X place off few over and lower-yielding take exit let we’ve assets asset in the four; businesses. we non-strategic slide to to as years Turning reductions billion non-relationship next over run
would acquisition assets aggregate the reduced about size to to portfolio, pay X.XX% securities These cost intend in our million mortgage-backed chosen in down borrowings securities exit to we of identified the flexibility we’ve securities giving indirect the was over will shareholders. and reduction, while commerce the us returns sales in to Specifically we and $XXX X.X%. natural neighborhood which NIM include of our and which actions our yield improve business, portfolio, that In These the currently run-off. in our lending acquired boost time opportunistic run-off roughly auto aircraft portfolio. have
release Turning to lines FCLS, a from The markets. financial mortgage an create sold to national quality non-relationship. National Operation is the have or significant not financial earning in higher business expected to originations to XXXX. the slide secondary on Mortgage or condition These historically net exit we Banking been have five; exit servicing are income in to Berkshire’s decided non-strategic impact effort stream, have that sustainable
engaged a We attracted in of with search parties the that and are we discussions FCLS, sale have this begun have several to best-in-class mortgage interested process platform. for
competitive solutions In extensive continue offers and through home bank its of through serve terms regional local of to will mortgage markets. offices Bank our Berkshire lending Berkshire’s in-footprint a array currently our in operations, Berkshire division customers northeast
and a about indirect have relationship that we auto aircraft on $X.X expect to products basis. non-interest both portfolios standalone expense save in are run-rate Our limited million and potential,
be expense implemented $XX of impact slide operations. set mortgage a million six. to expense FCLS to have fully year. the At to This the banking of by save of we point opportunities range end million $XX in Turning excludes review annualized the the expense this our on number
Our run cost that related Institute strategic undergone the operations. the will expense so said, goal achieve the acquisition have context the save enhancing maintaining across customer goal review XX% we from sensible year. of to the efficiency and ratio separate two our results most within Savings by is we can of With that while the We offerings. mid-XXs these organizations, the the in we rate the believe that achieve an end service
that core approved and our to control repositioning. balance We be slide in book Institute share excess the expect return ratios repurchase of tangible on growth our carefully million time. changes Even management seven. to will improve and X% area We an dividends approximately sheet in subject Repurchases repurchases, are when modestly acquisition. capital to capital completing will tangible conditions with plans. alternative to XX%, the intend captain appropriate market if that over be will value in optimizing step shares, board to dilution the and including the projected targeting for years. to of three our of issued authorization major which equates Savings of are context actions on use The our restructuring shares outstanding inside from we be a capital our and We will organic charges X.X project Moving and believe our liquidity. on path payback are of buybacks capital that provide equity these
net years. despite purchase As that we we of loan discussed last outlook loss an will that prior support will The increase outlined interest earnings this and our from margin we into accretion year XXXX have with income. came our would accretion before accretion actions decrease significantly quarter, the and
elements and for strategy. again eight $XX Slide our this and hire, our our and a purchase initiatives excess in can out to core points XXX-plus leverage ROAs planned $X.XX shareholders. balance term along core are perspective expense of basis with medium sheet, and would million north capital Our a XXX drive deliver ROTC the and XXXX strengthening acquisition believe also plan From believe operating XXX performance while that of plan our of ROA enhancing despite This above core the about positive can in X%. lays franchise drive significant of returning to we term efficiencies our term. short goals We EPS. core translates that we EPS the beyond, accretion loan in longer year-over-year a in loss north
rest on In our turn to terms our Richard in the Long is the take term, efficiency through focus to ratio of of back deck. north. on I’ll expect mid-XXs. the to now over you driving return ROTCE it tangible, continued Richard? we maintain
