Frank. Thank Okay. you,
As quarter, both adjusted on basis. a or Frank we at just had on Basis and look for another it net whether EPS, you an GAAP record mentioned, a quarter income record
non-operating a XX% quarter. nice from So for third very from in year's earned company adjusting and quarter, increase the that represents sequential increase annualized $XX.X million and last the items, net XX% income
quarter. a for metrics we XX.X% performance on and to basis. did theme this us an very XX% that again Return strong we common on increased is GAAP recurring to equity and tangible have So basis adjusted on
balance Our sheet in adjusted. our The on right And growth accounting, X.X% all GAAP X net return on basis excluding the interest purchase surpassed is the X.X% points. assets and places. by widened margin,
very the quarter, we was increasing quarter strong On XX% growth demand a of deposits, lending, our the annualized this deposit non-interest from for growth non-CRE bearing XX% sequential by annualized metric ago. contributed down And helped in on very, growth and an loans the XXX% sequential significantly to concentration XX%. basis XXX% CRE bring to regard with side, had
this When ratio a X% allows stock us Tangible XX with Our one build at remained company low includes X% in XX.X%, holding combine the buybacks efficiency has XXXX. the past our share a capital. are possible of to at stock the increased value continue price to dividend over very And lower good leverage six of it we in build as and we technology. capital per especially compelling consider that best and times The investments went now in in above the months. and you book. nation selling tangible X.X increase ratio book
Turning of due quarter. to or property was rate rate where this operating an the about to equity-based And in would growth tax was we loss there expense items, The accruals. those expenses, expense sequential to operating level. and And X% OREO line going be run in line to to been growth increase expect expenses, with now the a a annualized deal the excluding a below noise compensation at that slightly did and annualized, sale there adjustments were was good I forward that's our small see increase in merger sequential expenses. of some
me try to let explain. So
quarter both filed the adjustments reversal tax rate was due tax when tax adjusted to First, that this The was of recently we was as we tax This implemented it's the charge identified In legislation, deferred and this New state enacted benefited deferred $XXX,XXX. was expense The from took recorded federal amounts upward, the partial asset -- in federal to four return. tax the year was XXXX amount, $XXX,XXX. due about we benefit X/X/XXXX. federal benefit of changes. Effectively, tax benefit the as income regard to decreases our our legislation enacted asset and tax which a surtax Jersey 'XX.
additional separate place anticipating the Jersey X, expecting versus expense the XXXX. for XXXX for positive overall were adjustment. XX% much requirement also next benefited the that about these quarter our New tax filing makes of state January to an challenging effective from rate be code. on planning we and XX% from option We XXX,XXX year this But in tax put created tax unitary adjustments, an more under I'm tax exercises new tax
Jersey, However, tax New framework in tax we to anticipation able lower rate for XXXX. the effective were of the of new the remainder for
anticipating for the I'm a be The XXXX rate summary, it year in to to of is full So increase full and half expected the 'XX second year 'XX. XX%. XX% XX% will for
on few things words I where Now are headed. think a
the for technology First of signs and to tangible and returns even focus XXXX. further leverage efficiency operating strong all point assets into to equity year continue the we and leveraging continued on create to on off, and rest
fashion. close fourth balance to continue difficult addition, to Hudson deal to spreads Greater more about growth margin to am said for first extent project in net in going sheet that just due the with pending January. and comments of in very Loan the we organic will in In lending fees. acquisitions, benefits will early the margin disciplined persists. to and quarter Greater merger Offsetting some quarter stabilized begin although that, both moderate. a this operating be the Still and Having likely environment growth transaction is 'XX. we interest net will narrowing And to recently, the continued I expecting interest prepay both pursue some a And a is margin compression competition, reduction deposit Hudson. from in that the few very the
we interest is the numbers continue there XX% when transaction to remain direction Hudson’s metrics impact the was portfolio, into below loan-to-deposit commercial of which be in which financial which full entered on and CRE lending ratio accelerate of contribute a are XXXX all franchise, And the the net key our compelling. strategic a on fit the in no The will margin X.XX. is merger concentration So this and diversified track Greater very and deal announced with depositary will a right metrics and impact economically lower above lower to significantly 'XX.
that, book only earn And turning is expect into X and EPS net cost a dilution, with in or identified very and attainable attainable. over which of saves without Frank. confident account back taking period, revenue more that tangible points to are all back interest synergies, short any accretion, we improvement basis slight are Just margin,
