Claude everyone. common million of on you, provides share and Slide X with income was a the per XX%. performance. return quarterly Net $X.XX overview of an on a or good X.XX% of Thank quarter for average morning, $XX.X assets average diluted return our tangible and equity
understanding adjusted we slide Turning We’ve information that quarter performance. earnings reported this income quarter clarity. and highlighting to particularly include are a around significant pieces to significant we’ve we number a earnings comparison results additional recognized and taxes hope of this our expenses to X, believe our items of moving provided fourth provides
a On a significant front, branch contribution Claude exclude indemnification our the of viewed a that geography component merger income our investment, the well note adjusted write-down I’ll write-down tax the accounting mentioned the reported earlier write-down we’ve the period. to cost as should historic to be charitable as as consolidation of expenses of during the taxes. is FDIC cost, -- expense credit economically asset, related tax include credit
to quarter. Additionally, preliminary is FDIC resulted termination from early The the agreement the asset loss agreement our year. subject final settle to sharing this expected impairment and indemnification agreements terminate is early a certification of to during the
in for contribution low-income projection a just million as deferred to tax revaluation these higher effect year incentive performance. the quarterly XXXK our full tax the Excluding Specific I as discussed on the of the and taxes, December. expense exclude $XX a well a liabilities legislation result based income non-interest of expense fourth items, tax partnerships of tax our tax as items housing of signed late totaled reform to we’ve quarter the million of result adjusted and compensation $XX.X ahead
non-interest the the credit the we tax essentially write-down credit we excluded from after-tax last million down of excluded expense, historic that the mentioned tax impact $X.X we’ve benefit historic after-tax netting $XX Additionally, million quarter. to
X.XX% XX.X% XX% tangible efficiency share equity for on the I totaled just on per reflecting a quarter. return and $XX.X adjustments assets, net $X.XX on the slide a with described, a detailed ratio X As on or common and graph the fourth income average million diluted return
to tax fees, fully X%, basis interest net while asset or interest income increasing in Turning points basis. a increased net Slide linked significant compared $X.X recaptured increase liability XX and X slide mix for drivers non-accrual the million the and interest favorable loan quarter to quarter the the fourth including the details was on million, equivalent and X, increase for X.XX% to more $XX.X the of X period. margin a loans during a margin
benefit we in strategies discussed, previously the have fourth deposit those efforts third intended we the and full as to cost targeted late in the quarter implemented we of here recognized quarter. lower Additionally,
credit quarter in decrease totaling the driven the basis in X.X% with a of XX% performance non-performing average annualized decline classified Turning charge-offs X a by to in strong assets during slide net modest and loans. decline allowance X, a points was loans,
particular, and in tangible planning ability the we metrics during credit historically and and negative through Overall, the disciplined lower organic period. earnings grow value combination provision with on or loan quarter continued remain extremely credit levels. recapture XXXX our $XXX,XXX solid of our efforts. provision book tax Our and And deposit focus efficiency year of fourth and expense at pleased to performance, such, strong performance, as a growth, we are recorded full
result short along quarter way we fell year those of adjusted strong the fourth our results and a of our course full efforts. earlier performances While the in direct and expectations year, are
outlook success we positioned consistent slide XXXX, Turning for to targeting we XXXX. believe continued regards for to mid-single-digit the In portfolio, New with XX our that are the a your we and annualized basis growth in loan on are attention Year. percentage
normalized an to corporate in quarterly With expenses, be equivalent interest margin expense expect while recapture and we first tax continuing the are fee a to a tax $XX impact tax credits taxes, state income. efficiency overtime. we to days lower loan fully costs. the on remained respect smaller strategic XXXX effective activity, base that On success long-term a rate, finally, the losses of the our rate focused tax support elimination on due continued between for of fewer stable, to XX% targeting toward reflecting though net from historical levels statutory more outlook the also credit, corporate quarter migrate adjustment basis two is We to in and And million interest X.XX% one-time and excluding tax-exempt and make X.X% on do certain quarter taxes, reduced investments XXXX. and tax We ultimately we expect our of approximately will reflecting expect rate upward deductions loan the lower business. equivalent
becomes call back will on to now my over and update as tax I available. impact We guidance more to implementation concludes This remarks of Claude. will the evaluate turn you and reform the continue
