closed Chery, you, joining thank this good and Administrator; Officer; morning, is Johnston, Officer; All Chief our today. Candace, With for Credit and year Don Don a results. XXXX Overall, Financial our Chief us company Copher, Dose, had Officer; our Kalispell Controller. performing Chief we year Principal me thanks and very Accounting excellent released Administrative Ron full Yesterday, fourth Barry right, Angela our out quarter core business and solid our with McCarthy, and our an our here morning fourth quarter well. in the
corporate XX, Cuts this to many will days business result and liabilities the but XXXX. in you know, of XXXX tax-deferred reduced Act, XX%. banks last had the income Most into Tax of seen As benefit of XXXX, Act, a December which assets be signed and revalue as their the from in XX% the I'll tax-deferred refer Tax federal law few as to was tax all being the on in Jobs law to of
million. a our of this expense in $XX For net company, tax increase one-time means revaluation
to impact tax-deferred operating value understand one-time XXXX core performance. of our specifically on quarter Now view reflective core purely We of an on while Act impact and make and – reflected a company's the on net want from Tax results, not the to expense impact this one-time earnings the adjustment full shareholders of for as the the easier GAAP performance it our company will XXXX this fourth year we have assets. the a perspective, event with the
shows measures table the earnings release and certain one-time the So we without with tax our adjustment. included key a impact of with that
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starting of going from Regarding maintain rate in lower the XXXX, XXXX around payout the tax we to XX% regular same in dividend and benefit expect forward. our rate
of We to if at appropriate. capital continue levels plan also the the practice to evaluating dividend determine year-end is special
In addition, for business a initiatives of plan we to evaluate reinvestment. strategic number
ago. third For XX% million million, quarter XXXX, gain the $XX tax $X without a million, XXXX, expense, quarter sale one-time reflecting not volume one-time for of in gain fourth earnings, the fourth expense, on and OREO to one-time an of quarter the over quarter. strong tax or seasonally earnings the of higher the residential mortgage to $X quarter Compared primarily the third due increase to declined a year large the due fourth quarter were
postpone excellent $XX XXXX an well in however, total team The without billion. In job Earnings relationships. impacting the of assets, in year making fourth year, $XX another happen $XXX,XXX full doubt, to billion tax ended goal which no customer We achieving over ending below results full $X.X end we'll the for year. is that million, addition, record or with a billion XX% XXXX $XX the the Amendment million quarter without of Durbin increase in XXXX. of did for include an of $XXX at associated expense, the acquisition-related our this one-time expenses. were order There's expense the excess
new while the and closing company, banks, great and our community Foothills we and conversion. transaction we're a had a added managing in integrated We bank a fully Foothills company of division, division newest in year early know, Bank, system our Arizona you As XXXX. through into
Arizona in very growth promising. Continued looks
in Colorado Security Bank also we announced Bank year, Bozeman, Montana. in During the and proposed Collegiate First Peaks our of acquisition
going of and than closing expenses XXXX, increase associated billion the XX% of Security Collegiate are at in billion enough company Peaks end have at really while the the January mitigate We end $X.X assets, of adding company a the for gaining over quarter first of busy to February. the asset more to the size scale with over by crossing threshold. we will $XX our By
the impact earnings Tax the per increase the share, and $X.XX quarter fourth not prior not for X% quarter prior from of XXXX delivered represents the the Tax $X.XX, which also $X.XX, We Full Act, share were quarter. XX% year down a the or of $X.XX per of over XXXX. Act, including from up earnings including impact year's the
our the Excluding of average our was able represent strong the Act, our $X.XX on and December, was year prior X.XX%, been equity across-the-board Company. in XX.XX%. a per over tangible XX.XX% we've share year-over-year. paid all year, while was results are and this which assets we for average on deliver quarterly a XXXst on dividend pleased by return to impact the We return the paid These that of the very increasingly return equity Tax was dividend like regular consecutive strong increases
a per share In the addition, dividend quarter. of we in third declared $X.XX special and paid
a is quarter. last capital quarter one over While Company. the We we our consistent loan organic level a the took in with key X%. excess Company's to importantly, but growth of strong growth Most stay bit We this growth to will a in $XX to we This to also below rates point quarter was for had declared than given quarter it what five billion. and expect recognizing fourth that our a remain in of million unsure fourth that level with have or actions averaged years. growth done the paid was growth XXXX in year the quarter slower of shareholders the loan returning occurs good started the have strategy past, up consistently earlier of $XX we fourth historically the the
all and surpassed of XXXX, of grew growth which broad dollar organically loans we of $XXX based XX%, divisions year or new loans full the our million our in XXXX. For across was
the positive about economy for We are and Western that our loan XXXX on have Tax Act optimistic and prospects growth. will feel impact future a
However, seen the quickly. we've in outlook as past, economic can change the
loans, $X.X level So million quarter $XXX and we quarter an tangible quarters. past from the in in all to to the generally look points remain X%. from million the which the assets are municipal and million in points or X Loan saw was $X was basis prior Net the concentrated consistent quarter. Non-performing we and quality in points stable ago. percentage most was areas charge-offs growing decreased was significant year basis $X.X the a up estate Early-stage charge-offs $XX commercial $XX year more the among growth two consisting current was loans Other were and see. decrease prior but $X largest about fourth a end up Both quarter. XXXX delinquencies about quarter, loans million basis and to of steady assets expectations. for million, a basis C&I, increasing X% a This increased year-end. outlook. the generally like which $XX the quarter basis to good prior segment, was were $X seeing million fourth some points limited production XX real million of with quarter XXXX. versus we broad-based, Commercial X XX million as loans, primarily the were prior or or points million basis for larger at were compared at of the of credits. evidence held $X.X forward with fourth and production feel million prior points are quarter from the the the XX credit for well XX a at of years but this optimistic, few distributed quarter below our Non-performing divisions. generally to quarter, threshold continue from Paydowns even increase the second quarter, about to in ago. Credit the ag
with drove delinquency mortgage to residential of a our extent. Specifically, agricultural the portfolio most contributing lesser portfolio increase, our
few a this circumstances, with credits don't underlying a feel larger unique is sign concentration the we Given of problematic trends. in increase
points loans of XX basis end familiar stood XX quarter Overall, Our a customers with to divisions with continue and being last their XX XX risks. ago. mitigate at credits excellent basis and the points at a compared year loans past XX quarter our due job to of working an to the very solid do to
or The the of XX% cash end prior driven loan quarter This our loan for of loan allowance of and gradual with and and quarter to which a The quarter coverage specific reflective our increase XX% is the flows improvement X.XX% compared at XXX% X.XX% prior percentage $XXX investments million and allowance our of at securities down of fund billion fourth using the or versus of the we end $XXX as million X% prior at allowance a quarter at year review of the which of XXX% to Our declining assets end reduction loans level year. of losses the of quarterly. was to of of lease the level the environmental investment total last decreased of the is of loans, loss from from the by declined the quarter This at represents the and last practice is and of ended the or $X.X year to factors, XXX% million number credit ago. the credit quarter. Investment investments consistent loans growth year. a end ratio $XXX reserves non-performing for outlook, in XX% prior from X.X% margin.
deposits stay part transfer we excess strategy the of were sheet. balances limit this receive of like of company's security. because a accounts they customers FDIC part can $XXX,XXX As be back Prior pledge brought program million balanced of was assets, of in $XXX FDIC providing limit. Larger key utilizing the balance transferred to in this $XX program, onto a and program off with as below deposits as the deposit to total to many balance needed. as on sheet strategy these excess insurance billion in of method company's this the accounts securities full of of part to
of pleased at points $XX prior quarter with year over Net million X.XX%, If from This end deposits from fourth ongoing year increased quarter a million Interest of increased you help basis the most down on interest due period. slight and $XXX,XXX loans prior year. over The was organic with quarter income deposits million increase the funding factors higher-yielding of quarter was prior $X pricing quarter and million or decrease but decline remix in – a bank in sheet billion, the margin over quarter. prior a primarily quarter from versus XX decline importantly, – in decrease total ago. which new quarter off points include an our seasonal ended XX% deposits. for the ability cost. the XX by into compared doing prior to in quarter which the really the a the tax deposits basis and margin, on and increase fourth the the income grow that year more investments the balance million same and us was the moved substantial the from to driven due the $XXX interest offset in or than X% X.XX% fourth deposits year outstanding loans the balance year to were basis divisions funding the declined – deposit” lower-yielding commercial points by to cost and income, equivalent and up the discipline $XXX divisions for prior XX We a X.XX% “off loan X% job to strategy, driven in increased sheet, our were and $X ago. managing The to Non-interest $XX interest costs. wholesale expense $X.X existing or versus million last basis was core on our investment prior of deposit
consistent XXXX due While to we is Act. producing will in in XXXX business of the capable margin believe XXXX, impacted a be our with Tax somewhat negatively our core margin
the the and was prior tax of equivalent decrease tax will Specifically, for due XXXX. $XXX,XXX lower XX% for decrease a was quarter municipal income decrease for from and contribution $XX.X last million investments rates million, reduction by or or of the sale and Non-interest $X.X income in of this quarter of The fourth X%, a the quarter versus primary less mortgages the reduce to quarter a driven loans. compared volume. on gain quarter reason year’s the to the
sale OREO which last a booked the current was gain, addition, quarter, not we large In in quarter. repeated
X% however, of $X.X million, or year, represents over non-interest $XXX.X increase an million the For income XXXX. was which
the fees, on points basis XX accounts to quarter. expense $X.X increased due the sale efficiency point a ratio consolidation core quarter increased expenses for the $XX.X increased increase a or to of basis prior $X.X drove a This our or lower consolidation from year year expenses, employees banks. The from XXXX. service purchase quarter excluding XXXX. remains and from quarter of priority. compensation decreased prior of million ago, the employee led while and non-interest more X%, to increased volume charges but On is expense management of Non-interest prior due of which loans fourth was expense full or XX.XX%, XXX year million a Our and the X% number basis, over project mortgages. quarter, number including not our The CCP expenses, increase for deposit X%, benefits in the and million gain refinance from down acquired is salary prudent compared increases by core
XXXX, basis from points the full is full year XX.XX year the For ratio %, down efficiency is which XXX XXXX. of
have year better previously of so XX% ratio efficiency XXXX down performance to midyear As original an goal was goal exceeded our XX% revised of than XX%. we are to we more we discussed, our expected. even have even And reflect because this we full to goal, for pleased
in full as equivalent and closing, the asset and Act have taxes by first year metric Collegiate our Bozeman, be calculated look over loans will into the and an quarter First from be of year ratio represent as tax ratio XXXX. We impacted company, Peaks the rate. slightly forward sight another the contribution Colorado In forward closing and in crossing an for tax year municipal will $XX the exciting will the in the not XXXX, Looking Security deteriorate Bank revenue for fourth XXXX Tax we acquisition excellent mark results and of in our adversely is to quarter and our are billion this lower efficiency Montana that affected part negatively as quarter. investments by and
for and two will to grow XX% and this transactions $X.X has it company quarter is I first these working As preparing noted, The previously the on assets alone. ready happen. in make add team billion in been the hard
new our confidence. I we enthusiastic our again, the results all Our division the about the are for presidents of talented one trust and the team, our their thank each the power is in and teams of are about strong remain a in And their this to unique possibilities energized also markets. and we which our think their in year Once strength of business industry customers testament of continued very model. best
have. for my formal like may that now So and the any open ends that the callers Candace, remarks I'd line to questions
