fourth Frank, with of Thank working finished you. efforts year quarter. a strong to tremendous the end, good And very, like Thank a our response that in very too to difficult thank everyone and conditions. morning, on you, their we and year of staff face the much the very I call. these would over the past
the placing industry. preprovision us near Our of percent the top surpassed as net assets X%, revenue again a of
the million Some is amount third have reserves, $X for provided quarter. in of of quarter. releasing million, approximately are excess our That million a same what another as historically sequential but to in the peers $X we added we $X
we with common even reported, basis, equity So GAAP elevated XX%. tangible provision, return on ROA exceeding a X.XX% that on and a
X.X% over done year. -- we've what to XX%. tangible provision considerably basis, an our an equity add, and had on past I have would put to excess normalize of you in want grown If that's before, approaching we the ROE aside a ROA
a results either So operating on GAAP strong an very, or very basis.
path share per book shareholders. that to book is excess capital see past economic buybacks XX% to all Now share, Supporting ratios increased and at clearer, $XX per of capital becoming close measurably. our tangible nice to a We're the to course, the value this share at ratios very Board's increase have do about have of and tangible increased ago year we and increased We year. subject of as higher $XX.XX combination pace action, over a value from to of a a plan our return course approval. capital through dividends, recovery our ability to
bank, Tier Our organic common the over running is X XX%. the equity ratio our due increase growth. payout for ratio room is it's increased ratio And consideration at dividend and at ample our XX.X% there is even given holding to XX%, and company below
to me credit turn it now and Let reserves.
So our credit bottom well. performing is line,
improving Our fiscal economic we've They and the the just and in Act benefited outlook. benefited general, stimulus and monetary borrowers from CARES afforded the ongoing from them. have have the accommodations
and invoicing some on to to give loans and are loans XX% And that are I invoicing defer would in to So details us million at paying details want left XX% of some $XXX current. of you originally, give returned have comfort. full deferment these the And year-end. bucket in those returned over what's the
continue XX% than form of interest. $XXX make the million First principal to off, more whether are XX% or some collateralized. payment of
subset, in those We travel, X.XX, averaging is invested $XXX million purchases do in used tend underwritten this to bit higher. X/X mind, properties. about keep New little largest than with as very a lending properties is actually The the hot Now of such with And we industries ratio by strong these fund York to the multifamily And minimal line exposures energy. the no below very coverage Debt space. sponsors. LTVs service loans have on XX%. is are quite primarily said we've before, collateral equity refinance but City multifamily to lower significant hospitality,
Aside overall Actual to and low. stable continue charge-offs very credit or are from quality improving. the delinquencies remain deferrals, metrics
by level quality each points of with those basis about ratios assets X asset fell improving sequentially. nonperforming Our
Our percentage was continued impacts me That's year it And quarter on we ago. strengthened of million the where total losses this is respect to had consistent the the a as the in statements. ultimate of excluding loan loan nearly portfolio, recent Fed's uncertainty and the the CECL. to with pandemic. PPP, reserves the thinking with reserve $X let a double And comment This for timing reflects X.XX%.
you're recent to are most will the think postpone with we extension the I the so. CARES implementation do allowed banks of aware Act, and
a deferral implementation that from is actually beginning allow year-end Our will X until XXXX. the rules we day The for just XXXX. to XXXX postpone year of the current by thinking the is
Now be a upon the to probably allowance. run estimates will slight our financial under a CECL and believe our increase don't to material to we impact continue adoption, statements there
back to the me want to operating let I margin. get performance. net Now interest Especially, our talk about
just this interest once was basis X the net this widened consecutive expansion. again quarter fourth point by margin of time, Our but
stable year basis points strong quarter. XX of a and margin slowly the has Our performance from steadily XX,XXXth total up by been and ago
asset have we but earning there a over year As are quickly, structure, sheet amount of contractually benefited the balance parts moving overall which of reflects that know, fairly combined with margin, our our of proactive assets, liabilities structure pure combined with our a of with management from relatively you the the of lot past floating deposits. pricing the non-maturity from low that reprice
most have We prepayment quarter, fourth completely Now third million offset we $X benefit fees. that during a but -- by from quarter. the amortization recent recent increased did down was and level sequential income, liquidity larger-than-normal PPP of sold by them about the a slower of that
outstanding like we've be PPP, that it beyond another of but paid a to substantially nonamortized portion of PPP I'd midyear, fees go. remain likely the got would by say that. that $X.X that, up is loans to On will million
regard to forward let's So with margin. the look
the our well have Over levels. of been largely prepandemic past excess spreads in at year, originations
will us CPO wider items couple the But tells the our I at at been along low short-term historically continue we which of wider, curve 'XX. early will notwithstanding to and our we continue as loan banks same benefit time, are spreads, But rates. continue There with stages are excess to what competition-based will this of History working spreads at think narrowing. benefit I liquidity NIM. we have narrow. to will as just a start grow, we the also said, from so and deploy do these to advantage the
repricing the high the help by will in of That, and million points. of second, CD reduction beginning itself, debt $XX continue to rate redeemed in and we And sub our we X to portfolio. First, of significant at January. see basis X margin
half of months. next of We those rates have down now margin terms They're throughout over million And mature second in another of ramp set portfolio volume at to The maturities X.XX. over years. X forward $XXX the looking future maturity, will year. at in we're that that projecting our for the the
XX brackets plus the to cost We in have to very begun locking of our attractive X-year XX basis lengthen at funding liabilities, a in points.
time very So stable that, although all, is strong, beyond the possibly X-year challenging see I margins all ConnectOne a to beyond it project for XXXX, fairly in margin through frame.
sale was is on This is Now the to we loans. a but for side on big also strong by for success largely continue income, noninterest on it driven a of gain us, commercial sales an quarter business not opportunistic basis. loan have
loan residential quarter, uptick. saw the sales For an also
As amounts before, continue will I've to guided modest we of here. revenue see
we flat expense were side, the On sequentially.
I call. My is the that in year single-digit for expectation prior into think mention mid- I growth. did to going expense next
continue to invest in people We technology. and
winds our Now drive latter efficiency revenue that goal the is as for think we the is growth, will occur the to which towards part XX% in I more But depend, the of the be XXXX, pandemic likely did below sub-XX%. year down. quarter. ratio That on to
closing remarks. to you, to look Frank's I Back So taking Frank. after questions your forward
