us Allyson said, today. and you, Thank you thank as everyone, for afternoon, Allyson. joining Good
increase peers. record public community we financial our full in equity of our XX.XX%, share, first at are small a XX% cap translated upper $XX.X average year reported return again end as of pleased the on company, a a We income our a of puts which which million, for into very performance as per net on and bank of return assets X.XX%, tangible us earnings with
up quarter, $X.XX totaled third income million as consistent prior the federal For the than third with million, a quarter, which EPS a net was $XX quarter, more and $X.X fourth included from law the X% expense the double quarter tax fourth year's change. per result diluted the of share and
Our earnings growth expense and disciplined was credit increases control, costs loans, year for with year. and low the for recoveries by driven quarter net sixth in straight the continued
of Total X% and from revenue up of the third the fourth $XX.X quarter. the this generated the that for total We for from metric loans of expense meaningful held During of picture quarter, that revenue sources interest X% came and year-over-year as sell. net the expressed we revenue a we up contribution provides loans million, in XX% of from percentage around year. for believe loans the services all and including quarter our a and investment average portfolios loan the
escalated the being factors During and the near to housing the environment tensions our cautious with particularly well the and began as the markets change more have the adversely term. XXXX, China. in us respect quarter to between U.S. fourth economy, as trade it market half market the impacted in to These Chinese latter the of as related
which $XXX Total annualized XX% third fourth solid held loans loan saw quarter, the but For and on and was lower the portfolio residential the growth translated investment real million in growth annualized third up estate portfolios production. loan quarter, relatively flat estate a was quarter. from we commercial basis The our an were which our into generated by a for loan increased primarily from rate. construction real XX% growth
and expect residential mortgages, just side, during over general fourth $XXX year used commercial production our in noticeable pipeline construction the just $XXX loans, single home reflecting the portion of current grew our loans in residential $XXX half facing the of to from to quarter, renovation and Total or down estate loans. being in million quarter, in That the timeframes million to levels in production consisting loan a On construction slowdown million to of million base, our are at we and was level a in total municipal $XX purchases commercial estate primarily in XXXX. of real are in among the in said, originated C&I multifamily remain million expect which that residential that the we third construction of markets pipeline delays approval caution experienced first we sales estate impacting lower production million end, headwinds than and lengthening in our as the for or of commercial project number customer $XXX and loans given related the real well and real properties. $XX we the over of the as close quarter. we significant quarter, At overall the loan
to Moving in our rate year grew the an X% the for annualized and quarter. X% fourth full deposits total deposits, of by
Our to and continue which $XXX,XXX deposit produce XX% of base. all and efforts earn our core are their we to liquid to CDs define the of to a deposits deposits greater speaks our all deepen results which our we of quality as retail seek deposits deposits. relationships with positive share under our customers as
higher to portfolios, of LIBOR much pressure rate and average and reset with our prime our Although which able we’ve with to loan and year, in rise balances cost in continued continues in quarter the interest margin on rates. this deposits to the higher loan mitigate the increases at has net rates based rates interest variable been for impacting short-term mainly adversely to the increase
say lessening pressure that help competitive deposit rates We forward. are to stabilize be to pleased should appears NIM going on and
been sales, The has sales strong, of loans enabled market to $XXX balance between continue of our so we million. the in managing we quarters. we keep the loans realize during for sell. us of ratio residential loan liquidity premiums sheet also pools to loan component quarter demand the our sold to deposit Another is relatively and secondary for stable Institutional attractive
force, high. Focused in very expanded XX.X% XX.X% our us. support We yet remain addition year levels with productivity the expense ongoing and XX for in functions of the fourth XXXX, ratio and control markets, quarter. the sales for efficiency priority Finally, maintaining productivity and associates strong of critical strong are
year, we growth the greater During and York the Seattle our elements of both presence being increased our key in markets, strategy. New
in of We the a to new are Angeles. branch area Los close Koreatown opening
the as While the our conditions market progresses. add additional novo three will we plan two half our potentially de year to plans evaluate branches current second the to of year, closely is in and
residential ensure all in opportunity markets business. to our our we long-term hire potential to for mortgage and and investments continue to to as share, bankers commercial continue growth make the We increase we of the see
into Given slightly the shutdown, going caution, more government guarded the we especially continued the China to California in are and the market, uncertainty XXXX. pertaining
our we based However, favorable wealth, household quite and long-term employment market rates. remain income, operate prospects the of United four in States as attractive the on in most
We necessary the quickly we to changes business. grow will market the adapt and will investments make to
low for and in originations. digits on will We professionals, growth our both this to deposits add loans the we in continue loan the single Combined, our client-facing markets, year. double generate high to believe commercial and in focus expand presence
the expanding and about in making that bank for our and in growth we and will customers profitability excited are the success having footprint are along are strong believe position We XXXX in continued we the geographic with investments our business attracting to us new beyond.
I'd announced also like to mention today. authorization share repurchase Finally, the that we
$XX up the has Directors repurchase authorized of to stock. of share Board million program our common Our of
business the our Repurchasing at our discount shareholder commitment to reinvest to demonstrates time when what While time are use fair value. to goal enhancing primary capital in value. shares is believe be from significant to to we shares our trading to
with strong capital repurchase, coupled ongoing following will opportunities ahead. support levels we our growth Our possible financial performance as look our solid
in confidence on the our Importantly, company value. for the and shareholder program focus long-term prospects our reflects
Let me financial fourth to call to Tom in on the quarter. performance the additional now Tom? provide our turn details over
