expenses of in last quarter's from the net quarter, fewer and income and as morning. to Slide results. payoff interest segment. X earnings to Please release the additional turn primarily portfolio, well by income. nonrecurrence that interest the we and volumes, press for NII loan income the as X $X a million. our QX operating quarter, costs, were and auto, investment was lower early days resulting in quarter in details for Thank on you, down fact commercial in by yields Westernbank U.S. the for interest Good the higher lower for factors, reducing Today's the two $X.X information quarter from income sequentially grew personnel the first there million slide Ignacio. income that as the million higher affected is loan deck. appendix by the fourth and on variances $X lower provided offset benefited offset Slide these $XXX Note quarter, our lower lowered interest by were volume part primarily taxes, Net which in noninterest million, part Adjusting in of fourth in driven net by
Our CECL. for note, flat. was a effects the lot of provision potential related is there quarter the On interest of first a about
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a of $XXX other $XX recognition of on million early the million, expense. by of in results quarter, due first In decreased in from $XX were reflecting the profit-sharing; the million $XX the early recoveries extinguishment this retirement were in for of traditional to debt. decrease Additionally, the in expenses this QX increased operating first quarter QX. majority the $XX the loss prior from and our income decrease of The operating commercial seasonality mostly insurance million million quarter. expense Total three items: approximately business specific costs reported lower, program; of
than to Finally, sequentially. rate we expect $XX flat slower expenses at run still per has over been a expected. the OREO quarter, time approximately but of expenses million normalize ramp-up were OREO We
expenses discussed, tend As progress increase we year. Popular exhibit should to and some through the previously of seasonality as
that higher to primarily this costs. average million, strive continue beat quarterly in expenses $XXX will by will approximately expect regulatory we Obviously, personnel be We number. and driven technology, to XXXX
We Reliable continue of contribute including a net for income the fee expect of X single in year. the completed million operation the $XX former to middle and that by XXXX, to to conversion companies a range platform income conversion $XX be servicing of million should into The costs.
commentary our auto entity. forward, focused combined Popular will Going the on be
was to tax guidance Slide XX% Please quarter effective within the X. rate XX% the to turn year. XX% Our for our for
quarter. down net X Our margin basis last interest X.X%, from was points
Rico our deposit XX Total points, due and and yields flat yields volumes public rates points. quarter, the interest-bearing Asset for up basis basis deposits higher X and cost - costs Auto combined period. continue million in The the grew of increase Reliable in Rico points. by in strong Popular quarter. sales a XXX first during deposit grow and the Puerto X basis points. The basis increased X XX deposit points Puerto higher by deposits loan down saw U.S. corporate of segments in Rico to to The and basis portfolio points sector small were Puerto auto the were of to was cost basis X in mostly $XXX to cost retail in be
$XXX of loans in in originated levels. first business fourth million continue a trend quarter. mortgage Rico from the to pace Puerto at million the Our Originations decrease $XXX pre-storm below a quarter,
in to in in in overall and XXXX. We Puerto shift a turn for growth, loan incremental slower Slide Popular the positive slight do with portfolio. but U.S. Regarding growth we continue growth the to expect contributors to loan in X. growth balances anticipate growth Please loan Rico
with million peer corporation regulatory Our a entered share well-capitalized well into February, banks accelerated the relative respect as strong levels remain $XXX as capital to requirements. repurchase In to transaction.
million and million average we of The stock during price final the result, will treatment of term reduction $XXX on of ASR. capital depend in equity in approximately a a Treasury the accounting as shares surplus. recognized As the the shareholders' $XX
impacted because of this Our QX was EPS by $X.XX transaction. positively
effects results. on buyback, ratio quarter our book Tangible Tier slightly. Equity value increased our Common a the down from in of and Our dividends quarterly X was the XX.X%, XX.X% net
plus losses of the up Our buyback investment common impact preferred more made for dividends. reduction the unrealized net income the in than on portfolio the and and our
value book count, tangible the buyback to per due However, $XX.XX. $XX.XX the share impact from to share increased our on our of
We will I With and our Lidio. turn over maintaining tangible on to call improving to continue the of return our pursue double-digit equity. that, target
