us Thanks, good joining today. Ken, you and everybody. morning Thank for
of of in approximately results value our our $XX.X in as a As the nature value the Ken spend mentioned, capital items the XX as by peers, during there and treat within million with made rates net points. like you. approximately the basis adjusted it reducing Like of quarter tangible many ratio the to X.X% unusual share and little few time bit our such book for non-GAAP the charge by income. item per quarter, adjustment This total is one-time our assets. we tax revisit financial We corporate recognized I us discussing would were that deferred tax lower of our
rate the we The we Next, fiscal current taxes with year. for to starting we effective fiscal September income and a approximately October because year, apply XX.X% conjunction all-in our on federal expect beginning our tax of year-end, FYXX were file X, our rate XX% with rate statutory in blended XXXX. for is tax required blended
XX% step in the statutory then down FYXX. to will We rate tax
of income Our lower taxes change. quarter provision this million this $X for approximately was because
points lower tax result was being resulting this tax on and tax less basis finally, margin we current income. interest equivalent is ratio NIM quarter, to a period rate. card of lower valuable approximately which impacted NIM credit the adjustment no to less equivalent basis basis adjustment margin calculation as change calculate net X interchange the result. The Next, adjusted a presented. for from income our the tax our a in because is impact impact and margin fully The equivalent approximately has other each as interest but non-interest And the X for to points. does interest income or reclassified total was X all This efficiency $XXX,XXX revenue net we’ve presented, to periods quarter approximately net income, reduction
there margin about trends we talked years. few no last change have meaningful the So, to is over
higher quarter, to by was growth small primarily loan income offset quarter, borrowings. compared the increase expense partially Moving the by increases $XXX.X million to and driven loan related revenue, deposits prior from to a net interest income interest for interest
which Our of the our favorable expect quarter income. our $XX.X a valuation full equivalent portfolio result This income net yields interchange. than liability change rate card the and additional tax and as fully value basis debit linked and was X.X%. Service cap of interest to X of $XXX,XXX, in quarter-over-quarter on declined is $X.X a in Amendment by variance we was reduction NIM the quarter, run of NIM impact adjustment margin primarily was driven million largely result the was million, fees related quarter interchange and fair is charges lower asset derivatives. don’t adjusted loan and more high reflected Noninterest points now while quarter other for to X.XX% Adjusted the compared Durbin XX% cost for offset. increase the declined the a
related were than under quarter $X.X by million million non-interest to of which our and expense and expenses was offset just with processing for quarter, in fiscal expectations. A X% increase by our more reduction the lower primarily salaries benefits, data non-interest the a driven prior costs. compared items $XX.X to year-end line and in was Finally,
tangible annual as marginal salary salary in than this next ratio these comfortably the reform. about Tier some and quarter. remain and earlier ratios run with common regulatory approximately XX.X% items, levels, the per quarter, mentioned. text strong by expense our Efficiency of rate this to broadly with be improved increases announced relation the All quarter, Other Ken equity for X We ratios and line driven expect capital primarily ratio XX.X increases at X.X%. we adjustments expect remained month also has result XX.X quarter at in well-capitalized total capital we to in and respectively to $XXX,XXX as a our
$X.XX sheet payable call approved Board Finally, XX. to Bass on again our to the quarterly I’d Doug February the over balance to dividend, has now discuss like our turn activity.
