Thanks, Richard.
in resulting EPS. core Our in my quarter-over-quarter GAAP the $X.XX comments. later non-core major non-core $X.XX was in EPS $X.XX charges and had of discuss year-over-year. quarter, for the I'll We items up in net
we year. impact the through faced operating our interest impact been to sensitive Fed lower the around quarter, core XX was Our GAAP from We unanticipated boosting XXX points core cuts. Funds sensitive. I'll impact another note asset here shortly, was in this a tangible our offset the accounting GAAP return basis rate to to been headwind in address three EPS ROA the and reached margin operating The despite ROA over purchase modestly little SI the our fourth that points ROE basis profitability XX%. accretion. just on We equity but was common was also accomplished goal asset of and this has Financial did and X%. We've that
the to wholesale declined we funding. sheet, the pursued and initiatives balance assets reduced quarter in our fourth our strategic as Moving
original was that the by million we've medium-term, XXXX, asset $XXX billion million in a accomplished footings the about loans by in than estimate over little releasing strategic $X quarter. of more to with reduce less that We objective including value. reduction Our investments $XXX fourth in
in These if retain return interest with reduction quarter factors. become our managing deposits costs benefit, uneconomic less they are and Retail our competitive see towards and to decreased as relationship target focused we assets on We're declined. rates we excess won't and expect deposits, continued to time due XXXX. in fourth deposit modestly the
point X quarter, $XXX basis reduction were held deposit including the million XXXX modest by in reduced during fourth targeting much costs Year-end We're in deposit quarter, average basis was balances our of around for term fluctuating totaled the and million, balances. payroll more We've funding short funds by payroll Wholesale points overnight $XXX by growth retail which year. excluding in than XXXX, X costs. the $XXX million a reduced in investments.
this year. funding wholesale our reduce further to expect We
around continue buyback had as shares in XXX,XXX XX. March on which shares repurchased million expires brings to authorization, Our additional total year. the which an in even quarter, year-end XXX,XXX improve At fourth capital remaining we to we for our X.X metrics buybacks the shares our
book for Xnd, January half shareholder agreement. boost and EPS have shares, one share. will value no formula on common were On converted on based per the about the of to shares This in preferred outstanding common slightly XXX,XXX will impact two the
unchanged income $X.XX basis. Quarterly year-over-year linked-quarter the $X.XX and to accretion from a the quarter, Moving recent down in to benefit to EPS on on from equal most the statement. was
to further move we We as expect this XXXX. benefit through decrease
to and on our along with of basis XX year's basis of Setting aside quarter-over-quarter, compression The the sheet, was of the rates conditions. impact market lower net the of sensitive assets competitive the accretion, majority tightened due impact impact XX balance points year-over-year. the pricing margin interest by by points
our the decrease interest expect from run reduction low-single-digits on in current on to around net continue expand as Due asset rate strategies before QX margin we and the sheet in compared to Based XXXX. results. current expect our the we we to to to accretion income the curve, levels forward there strategies, stabilize execute balance quarterly
also year Fee of sale premiums. as a well as for aircraft strong SBA Separately, commercial from on lending our portion portfolio, a benefited an Financial. had SI sale team, from portfolio recorded a we record acquired the income gains of our from quarter which
to in expect Looking income half the fee increase of back forward, modestly we the year.
Moving provision, the The portfolios Standard. to the as XXXX the CECL for noted, condition sound. is is Accounting loan Richard item major new
the this of for with impact. like we regulatory standard, an little under performing most loans increase offset life banks, will that loan Now capital allowance equity, the new under new but to anticipate our methodology
acquisitions we have on Taxi loans, a credit you taking our due As large impaired discount to comparatively acquired and know, consideration purchased into loans. our Medallion
the We to balance charge-offs and This initial of this impact the the discount, regulatory metrics revenue, will capital. margins, loan expect that gross an to increase increase in with classifications, offsetting transfer may allowance. related efficiency, due loan loan removal risk
interest expense, the recoveries to posted will with to net impacts allowance, are little that net posted Purchase presently the bottom are line. loan to reduce generally income and be to provision expected
We statements. these we impacts expect guidance on more financial have to after complete our
Moving quarter-over-quarter. quarterly acquisition and previously expense which expense despite bank, reduced in essentially on run core we We million fourth of targeted X% Year-over-year a had our QX, saves costs in further flat was to quarter by $XX total $X.X non-core expense brought a rate. non-interest billion expense.
core franchise, Our expect that we and as back-half expense the growth rate we under in invest to continue. tax levels, see efficiency We of the XXXX in will and the some ratio XX% FDIC came XXXX, in of rate expenses up and our tax run of annualized not in fourth over a QX. insurance XX%, therefore we the compared the in XXXX, expect showed team and the quarter expect in in XX% rate little to rebates to increase area
EPS to be compared includes winter down quarter Looking forward, impact run costs. to our which payroll the seasonally fourth taxes our occupancy and rate, expected QX of higher is
sale rebates gains benefit the to not are repeat. from the Additionally, expected FDIC loan and
EPS flat quarter first first going for from slightly there. then quarter, from and or core forward look down last improvements year's Our we'll maybe XXXX
in back-half in year. anticipated of on we with ROA most Our the will basis of XXXX, XX was points pickup improve the core in the this XXXX,
mortgage are classified the discontinued Our in held-for-sale, as banking operations financial statements. national which are operations
options. seasonally continue a generated actively residential which volume. mortgage quarter, to in fourth sale the for These pursue quarter is operations loss lower We a
items to We don't merger be year, sale acquisition quarter. year. the Financial including related aside the mostly until to pursued are in came there charges, non-core eight forward initiatives to within branch charges from were will going These during the two consolidated SI discontinued charges our fourth offices we complete. related complete. anticipate is were that and the the in that Moving these The We restructuring related strategic operations estimate. original this
the in positioned improved have quarter, that summarizing out and the we profitability of first that year guidance line ending our conditions I'll and the close start with year. by set at following plans we're the the and
this generated we and to have higher sustainable strategies Our quality, continue earnings do year, so. streams more will
With turn that Richard. back over the I'll call to
