you, $X.XX Thank per compared million $XX.X XXXX the per for last Net or Catherine. diluted $X.X of net income first share $X.XX of or million to share was income reported quarter diluted quarter.
an of first were our $X.X results quarter XXXX of one-time included the quarter fourth assets. due million charge Also, our effective estimate basis, deferred quarter tax expectations to results mentioned, to income assets. rate one-time by XXXX our tax deferred our tax with million the the the On refinement $X.X estimated line XX.X%. negatively in our Catherine revaluation As was first revaluation benefit impacted net net for normalized of tax the at a
our expect effective XX% to rate the tax continued We in range. XX% to be to
points. may as the slightly of decreased Return faster average reform prior the filling compression tax a normalized first tax bond first loan of of affect the received XXXX. However, the the equity rate, to basis, X.XX% by On reported due XXXX on was average quarter due additional was margin quarter basis, in basis as was income. points sequential income return quarter. X we million the the our X that strategies yields. the $X.X was fourth was and experience tax our X evaluate effective in to assets and X to basis quarter the increased interest than on decline XXXX, flat recoveries municipal continue was return. on tax in there income sequential costs did net in spread we of fourth quarter Also, interest of interest points point by deposit quarter million impact NIM interest basis net declined in XX.XX%. decline the to interest Net the $X.X recoveries of basis normalized On a
net prospective strategies improve income. interest Our several to margin asset net balance implementing and interest is liability committee sheet
implemented over be will can strategies some While quickly, time. occur others
flattish that couple believe another be we may to result, income for higher quarters. slightly a of interest As
second March million During forecast, credit to to in compared allowance of quarter. million the in $X.X $X and the totaled first to $XX.X and recorded for of prior $X.X million provision first the to credit recorded of the leases. charge-offs quarter we X.XX% of as believe loan of XXst, prior losses lease a a loans loan in At net for or Net current quarter, outstanding our the will the XXXX. losses provision in compared Based $X.X and was on million a debit the quarter quarter. provision return we charge-offs million lease
expense declined expense. in decreases XX.X%, by The sequential fees, ratio roughly The first first million. quarter. by and quarter quarter was and quarter decline efficiency $X from salary First professional and primarily was quarter driven benefit for which fourth was for the a to slightly $XX.X income XXXX million $X the advertising, other legal operating the million. operating totaled quarter Other sequential improvement
We the trend quarter continue fourth toward of by to to efficiency expect XXs ratio XXXX. the low the
the in shares repurchased stock During approximately of XXX,XXX average of of at XXXX, an quarter an $XX.XX. XXX,XXX We’ve of repurchased an month-to-date $XX.XX. stock common shares average April cost common at also additional cost of we first per share
highlights to Finally, summarizing of results. I’d some quarter the like our of close by first
of We and EPS Solid our X.X% dividend growth XX.X%. cash quarterly growth increased by of year-over-year XX.X%. net income
And to solid to Thanks. ratios. return have continue And capital finally, call -- we We improve to continue quality asset opportunities improve and Catherine. maintain the performance. I’ll further strong to
