good to Thank our call. morning Welcome Steve, third team. everyone. -- leadership Synovus and you, joined this our our to earnings quarter by fourth to I'm morning
the a due ago. quarter reported EPS previous and X.X% the this equity Bank due the to our private $X.X points quarter. a and quarter margin a of period fair in net Community quarter of was decrease I'll in part for usual, loan earnings merger, merger-related and I'll basis, On by million and basis of year EPS summary Florida from As of walk quarter were state, value deck county which $X.XX, XX.X% growth, for an deposits, Fourth through and to a down municipal of EPS we'll start was are adjustments in the questions. expenses, impacted the of provides Slide the diluted the $X.XX strong adjusted the investments, The tax. line with inflows results. expansion. broad-based presentation, open X up positively earnings seasonal million $X.X the from deposits, associated on Diluted growth X, fourth same the largely results additional an
a primarily However, year-end due to these offset provision tax benefits quarter, were effective during by refinements rate of the estimates. higher
revenues X.X%. experienced Total while slight strong, expense quarter, leverage. the X.X% maintain in we to X.XX% return the with on we fourth remain our down quarter. revised increased rate objective assets our effective rate run sequentially For last adjusted increase year expenses full year, basis Though versus focused same positive ago. Or last period expenses points points a an on adjusted on basis basis, a XX the and was up during basis. XX.X%, tax we in average from in a year, increased our Return with on was to provided was managing reported operating adjusted line assets quarter XX X.XX%, the line due a the average in very seasonality range on
balance or sheet billion the X.X% $X versus million year On just and quarter grew over for ago. or X.X% loans $XXX.X sequentially side, a average the
Cabela's balance Total -- and quarter sheet, grew or X.X% deposits Foremost elevated a year side prior transaction prior in with or $XXX sequentially other the deposits X% as broker ago. part million million and of the due On World's Bank. were to of average versus deposits the the received $XXX.X year
previous a continue quarter improvement a improvement from further basis We from year stable from environment X improving credit relatively asset a X.XX%, point ago. X the benefit with and a point to nonperforming ratio the basis to
with continue of improved to an to of points equity on Lastly, management XX.XX%, terms common XXX from tangible basis year capital a XX.XX%, up returns, we XXX return ago. efficiency adjusted year average capital improvement Adjusted ROE overall up and in points see ago. basis a in from
Slide was growth in estate nonstrategic real $XXX.X loans, We ago. hotel were annualized which in C&I land quarter declined consumer and multifamily, shopping and a and CRE somewhat sequentially footprint up loan across offset X.X% by grew center, development general $XX by million Moving see this to $XXX were X.X% utilization. across C&I the loan commercial our line from Total was billion and or somewhat of banking $XXX by up $XXX with growth the million pleased seasonal X. million. steady again loans year to million, driven Declines loans primarily portfolios. growth teams spread and aided commercial
One, a From our metro including $X.XX overall interest experienced markets and loans $XX premium million Total our fourth and million categories, asset-based grew lending $XX a grew average Compared to business, large HELOC, or card. partnerships last grew ago, share Similar geographic grew our our loan same mortgage of Global X.X%. loans quarter, sequentially. quarter, to drive portfolio average million. the credit growth all billion the finance during a Additionally, across lending consumer growth. continue to $XXX quarter standpoint, year vertical
loans have of We loan total loans loans, increasing XX% while of diversification loans to the sheet. declined outstanding consumer balances. with be now XX% balance portfolio, now to CRE and pleased represent continue XX% of to our with composition the C&I balance of
We very around continue to selective very to CRE, discipline maintaining markets approach strong be closely structure. and classes and and monitoring in price asset our our
a In X.X% X. billion increased year of million Slide total $XX.XX ago. deposits $XXX average have and to Moving sequentially or million $XXX deposits, versus increased
year-over-year the $X.X Foremost in earlier, To in have billion World's Bank. required matured. quarter of fourth mentioned the World's transaction with decline under were just the X/X million I associated Foremost the that expected $XXX deposits of broker original growth in the brokered Bank XXXX to with date, or due was deposits muted As
XXXX. quarter to fourth deposits deposits a result, As average of declined brokered total X% of the just in
quarter million from as million $XXX.X in up deposits. quarter, non-interest-bearing average prior billion time growth as Excluding growth $XXX market accounts a increased million and the deposits money of third $XXX in deposits, with well brokered deposits, versus in strong the $XXX XXXX
of While to due to municipal the well county growth balanced continues inflows, strong, growth non-interest-bearing augmentation. a portion non-interest-bearing growth as deposits and resulting in as was seasonal be from in state, other significant account
experienced we of seasonal county deposits expected, state and of As inflows quarter million. and municipal $XXX approximately the during
expect during these We levels return XXXX. of deposits more normalized first will to the quarter
this sequentially points to XX basis an points in was the higher increase the period this million, compared for of declined margin due ago, The Moving to and the last quarter. quarter, Net or rate rate. quarter. net hikes million yields deposit points funds versus $X.X to million resulting increased funds net previous basis X.X% points incremental XX ago. by from improvement up cost XX% and interest basis XX average the points the The quarter quarter deposits LIBOR a short-term same basis the interest-bearing driven X. point The was interest quarter December XX% or third and net effective income interest the during a Slide betas basis and quarter actually XX.X%. with $XXX year was beta XX of increased to X.XX%, of up previous margin Compared the another basis $XX Deposit X income the loan the interest-bearing with cost quarter. fourth quarter increase of in increased interest a as from X increasing cost September year to was consistent for
value Additionally, XX% to our strong franchise. the continues only cycle-to-date core beta of demonstrate of deposit our
a $X.X million, income, for down million to the Turning million versus ago. year was quarter noninterest Slide total same $XX X. period and $X.X the quarter In income the prior fee versus
million As banking and $XX.X million decrease $X.X management private from investments gains and the compared to same brokerage income revenues million fees was million The on period. year the card largely SBA $X.X fair of quarter-over-quarter or XX% in well decreased $X.X basis noninterest increased earlier, $XX.X income versus $X.X a $XXX,XXX X.X% in of interest fees year were or better sequentially in prior million I as up of million increased the quarter sequential ago. of a quarter included on million. equity noninterest due banking $XX.X period sale. million X.X% $X.X and as Adjusted and to a increased slightly or fee income mentioned Fiduciary year versus value a asset the ago. increased Core the core improvement of prior
lower year, quarter, the in and on revenues efforts, declined secondary is revenues up our said, XXXX. the management a expansion forward That decline of to result and million with XX.X% we seasonality in refinance businesses sequentially progress fourth markets, declining associated but same talent production, quarter activity. goals continued increased for under to due year. equity focused soft $X.X in these on pressure full account in to fourth was the period last these as Assets through to a slightly which growth continued due of and Mortgage million due were $X.X market somewhat look the versus
incurred first in a seasonally and the is We're expenses as increased Turning increase million fees a which expense $XX.X in online senior Adjusted million FCB $X.X as and increase undertaken X.X% and $X.X platform and mobile to was of is were redemption as incurred consulting million DIC decline early last the previous that. expenses, quarter. of merger-related earlier, The in about in XXXX versus very noninterest our same XX.XX% loss million were the of million ago. we long-term the and excited our X. part X.X% million for X.X% increased Also, by The from ago. which known consumer year to the offset actions new These sequential XXX [Technical decreased $X $X.X Cabela's restructuring $X in a our of in partially noted prepare I a a resulting points Total target surcharge. a that from in the notes of million or period or year of or noninterest quarter, a of year-over-year advertising included Synovus expense, X.X% $XXX.X and from the balance year FDIC in was $X.X of result were increase $XXX.X million Slide decreased quarter launch My expense the pretax Difficulty] as reduction a lower quarter to the of exceeding $XX.X full from quarter transaction. basis fourth of this million. sequentially XX%. result pleased $XX XX.XX% improving We fourth or million elimination sheet related current year, sequentially year increases million expenses
X. Slide Turning to
XX at XX You'll to dues credit XX greater see days and continued basis Net the than greater dues to excellent ratios NPL XX measures. points. declined XX than Past quality in point. improved, points XX declining past respectively. charge-offs basis X ended basis days basis basis quarter while and points, both performance our points, The NPA were
charge-offs For basis from allowance quarter. year, losses the down at the middle declined basis full in points. loan modest a was range $XXX,XXX ratio our points, points, X also third XX the right to in the XX of point which of ending basis XX XX The at came a from with stated quarter, previous basis for
of slightly charged to off. previous However, the remains which coverage loans, ratios impaired or reserve excluding for reserve NPL from XXX% the been improving the quarter expected XXX%, to strong, has
the more our with approach to consumer increasing uncertain and leave we sheet this profile credit XX% a C&I I years, our book have into of past to to company's our and strengthened balance to has of made increasing CRE as to as declined total we XX% we progress couple want crisis, loans, minutes conservative Before the significant and commitment the rebuilt over reiterate reflect credit take XXXX. slide, from XX% XX%. the our greatly Post credit completely on to to structure move a few
conservative once with to reducing have each exposure nonspeculative place only the under CRE a underwriting now This and XX% mix very under homebuilders now book, borrower. CRE asset comprised In very a of X.X% volume concentration appropriate to covenant class for nonstrategic total of a any properties type. Residential made now or which originated has portfolio with individual shifted portfolio. where policy, we XX% significantly, strict of We our our to well-established policy, comprehensive been These value loans loan addition land, small almost adhere comprises exposures loan and comprising considered property loans. entire debt within guidelines. service CRE the and investment limit in to to the of requirements only loans a is underwriting C&D
is committee. industry real-time appetite based Our credit for and senior market property and type leadership intelligence each approved determined our by board-level by on risk
during result the is severely scenario Additionally, adequate last direct in the derisk restructure period. last result recession significantly would losses to level our that our we remaining throughout of portfolio sheet. results, a economic lower rigorously credit efforts This balance stress since and the and than showing even capital recession, test the a adverse with
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completed Our aggregate, CETX during In authorization a in in announced in through same a completed to the first and repurchase total X.X $XX reduction $XXX share October, in reduction returned ratio repurchase repurchases an the $XXX our increased the to of $XXX our shareholders we month. announced and the the in a in with This common XX.XX% share Together quarter December, combination million share was quarter. million XXXX million of XXXX. stock authorization resulted were that of shares, common dividends In X.X% in common we million of count. common share XXXX million. additional
you that our of of number a to metrics show broad-based achieved in give Slide improvement XX key a highlights just team quick the the XXXX. financial Just year, that summary
our So were for ratio long-term ROTCE I'll quickly. the financial well We're a year were just targets hit EPS efficiency that and ROA, XXXX Generally, adjusted ago. those guidance. growth, line of ahead in with the established our very results
and equity adjusted return efficiency year, full to improved XX.XX% improved EPS XX.XX%. X.XX%, common the tangible grew ROA average For the to improved XX.X%, ratio adjusted adjusted to on
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of the give XX strong net association. originated with will for credit again, been a basis performance overall represent Syndications pleased The points company Kevin that basis and XX the on, were NPLs the both before, color points metrics with at existing Howard loan on X% total more later will basis basis FCB seen again, charge-off, of but to cover of since points, the Kevin, begun delinquency with stated book later. NPAs on certainly, aforementioned the And loans more year. of we've of XX we've we've we've points. also little the XX and, very XX-day for be And about our credit As continue FCB combined only portfolio. charge-offs the
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XX and to Moving Slide to forward. look beginning
that the key both demonstrated that improvement Banking to opportunities be our similar culture is X by significant years. enhanced enabled in Middle The characterized these profile very we've that You'll in see growth few XXXX for outlined we've company over will to generate financial those historically Market are some mid-single-digit ways strong institutions. award FCB's last
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our cost expected excess actions return first the of outsized financial results in and year. to million again, the to phase capital can XXXX to opportunity delivered, to $XX earnings savings first expected optimization And associated deliver an the exceed are with on lead these in acquisition, we've to will now we the that As the capital begin merger, our completed shareholders.
strengths our to our generating synergies though, deploying customers. a of eager services and best-in-class complementary of collective capabilities to by the revenue begin we're and leverage products, set platforms importantly, More
So with backdrop, these which how capital our XX, to to anticipate like long-range talk more with And and take our plans specifically into view in objectives. about I'll these then we give tie a you guidance. XXXX you results to I'd that Slide will
perspective. solid We year expect XXXX another to a sheet balance from be
deposits ratio pace basis, of X.X% with X.X% We growth, to a an in a both balance earnings period-end baseline growth growth XX% consistent deposits and expect deposit loan-to-deposit loan supports of based $XX.XX on operating that a of growing $XX.X in This and is loan pro while billion maintaining our forma of expected off preliminary loans billion to at with XX%. measured sheets. appropriate of on consolidation a combined range
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X%, We to the noninterest expense expect X% of the tied acquisition. synergies adjusted FCB in of range to also net
merger throughout As I manner an we manage expect way, earlier, in indicated ongoing in a expenses prudent cost year. fully realizing to savings the also while accelerated
to Our capital for XX plan, in our larger as $XXX an to portfolio strategies, common XXXX. normalization increase rate quarters. we to see in is expected of additional which be XX ratio shareholders to XXXX collectively, issue Slide On instruments. are and as of common low the an share repurchases components you'll both expected XX, charge-off capital actions to over dividend repurchases. next of XX%, million effective loan by in I capacity net X this large the return just a historically will through and to X to of the include of anticipate expected common basis dividend capital XX% per incorporates increase points, include charge-offs the well the I'll actions expectation related walk finally, including XX% detail in common to $XXX of impact slight relative which, a which which some $X.XX expected acquired support XXXX million $XXX to the mentioned, to Tier and XXXX million, share levels approximately And largely we our share tax optimization
effective dividend in per the M&A. payable to April Board of approved a We're XXXX. has followed of risk-return our in share, As prioritization trade-off capital by begins of funding in common dividend capital pleased the evaluating with the announce then and between XX% to our quarterly organic Directors finally increase strategy $X.XX we've of dividend XXXX investing level stock before, dividend, with optimizing back a competitive with capital share a times always pursuit stack that payable appropriate repurchase business, and growth into and a for shared many the
have in As we'll last Tier acquire instruments basis has FCB, months dividend performance. exceeded a track dollar is annual purpose having all deliver to growth been stock, of an XX% equity the well rate after growth other as to issue included after an total we're we've the quartile end left for ratio over FCB, our to million X.XX%, with you desired also by since qualifying capital to optimize XX, risk-based remaining and chart basis $XXX below XX%, with share result of targets X stock compounded with opportunity or track financial million that repurchasing associated common pro base operating profitability within Including of growth of our stated reflects the year XX%. ratios forma XXXX. while of to few the tangible on believe In of for goals, merger ratios combined we current the Further, that XXXX, and capital count to common with and enhancing exceed the our million. we'll return merging in top -- bottom the an capital profile on compounded issuance begin $XXX of $XXX our the at ROA range, the the XX% range. low merger the to EPS Synovus would adjusted our on post the of efficiency our updated provide higher while said On capacity reveals on our $XXX slide of Slide The FCB. long-term operating on capital our previously ratio increase, million impact we have to dividend will Synovus a the
targets long-term resetting we're So our accordingly.
has see which customer enhance around on team we're solidify defined will proposition. you'll XX, of As value building Slide and core that areas the focus strategies key our experience our
in doing growth, course, performance elevate profitability our efficiency. Of of continually so, we'll and key areas by financial
tangible of for year maintain an and XX%. the around targets, XX% meeting Over ROA ratio defined, of efficiency an reach a three these ROTCE we've time we we'll believe horizon, of X.XX%,
before included brand, So to transition year line just a among teams of contributions a a historic questions, I open for XXXX, want milestone their proud single we reiterate the other a combined that landmark I how our for to to accomplishments. am
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our year, on through addition delivery completing also talent our Synovus last of integration the banking experience focus team aggressively intensive the to new synergies the In building positioning announced successfully and new FCB half and through is digital our launching My first go-to-market model our late year.
to execution and his President already new which Singleton, to we'll expanding Kevin transitioning know, who EVP; role bank retail and be Financial we includes our Bart our strategy. Bishop, his newly whom, Officer Wayne you've technology team And businesses, combined Kevin Howard, alignment of team, you as a heard, team; Kevin leading revenue-generating Officer operations Credit Akins, our of and continues Chief Officer, as his lead new Executive Blair. growth Management Chief is for Zack and Services from model, team, and our our out Operating bank serving As our to under his Chief community combined combine as team; what believe is our who's role will wholesale Banking our Community IT much and Operations Retail better Executive.
way team made is We're going them new or the named the about organization. expanded to to this have in in changes excited talent All reporting role very key of market. and significant
him our You'll members for to roles about CFO. today business, with integrate as and headquarters Kevin especially today. natural a Officer. company. underway a role. into earlier, our not on here speaking for credit is that, we mentioned as have as effective going Credit Bob bank. Officer team. our official underway to Howard. Derrick Florida XX than appreciate community And We to to the your service to Operator, as for various hear last now questions. you very soon. and progress Chief and interest new just succeed we is have an excited today in He's from really Chief yesterday, in have fluid, credit his do to new search, to lead active a our model most and years role, for relationship-centered Synovus, we critical the our floor We to we'll And our then his Bob transitions have Kevin our you Columbus got a for the continued culture. more relocate new we'll in more recently to day entire finally, team Howard credit. as Bob new He's his again within With this in we new open that He's company. talent the look us is in said sales forward not believe really willingness winning as a we'll supervision throughout new foster approach this choice for spokesman attracting our newest Again, believe have CFO I Thank our we before, place won't call. We're Kevin announced company. for reporting Credit and function year. his search to new Bob's this new to We
