today. and everyone, you you, Good Sal. Thank morning, for joining thank us
we ] I bank. full-service Community details appointed monoline [ would this commentary When X I year dynamic from Bank a to President Before some we go and into a diversified business the upon to was ago, like legacy past years perspective. of embarked the into provide year's threat New commercial results, model to the CEO transforming put York
of that continue of in by built establishing execute loans. an We We commercial transformation available to greater billion December balance clear percentage strategy from the point. million up $XXX of inflection Flagstar diversified income the common on important and growth. for total significantly increasingly an momentum path was a our while with successfully XXXX, loans created closed in acquisition net $X.X representing XXXX. to stockholders, reported our We future sheet XXXX
total nearly the the Flagstar meeting mid-February. acquisition. with the we successfully deposits, of throughout noninterest-bearing systems of set the deposits percentage milestone integration since just for before conversion every slide year quadrupled the have the ] We [ began Similarly, closed
We campaign shortly completed, conversion received which that rebranding also unveiled the both a systems launch been and after will has externally. is internally well
complementary added we middle strategically and assets Signature banking private of market XXX and amount balance over teams. for deposits which by And strengthened Bank, select financial adding a a business by acquired liabilities sheet our significant and low-cost supported
of billion in billion $XXX banking us had addition Bank of placing IV over total large Category class institutions assets. ported Signature a to assets, bank $XXX billion and us between the in Importantly, in firmly total the $XXX
sheet. the we the the When advance we itself, the to and of last diversifying to while our us our The be And buildup of Flagstar all by were honored This clear. have years X since strategy to strengthening this presented opportunity balance allows preparing this acquisition as lending the FDIC, acquire acquisition, bidder cross closing benefits the to selected in been were particular, and moment. were a important threshold. Signature
and some and risk requirements However, for than requirements, prepare Signature Community IV capital X have this as sooner of and our enhance risk bank bank. stress ] Flagstar, enhancers with we April a anticipated. for a quickly submission plans Subjecting accelerated of will this year, integration pivoted being [ that NYCB, banks, we Alongside capital had standards, financial standards Category and and the we first in us $XXX acquisition, testing. liquidity [indiscernible], we become including to and billion-plus overall base management leverage
a bank us align to capabilities strengthen we sheet our applicable as our and coverage with These which peer aligns management banks largest under peers as risk management to and our balance with which with better standards banks strengthen build capital, and to prep banks of YY processes, for in including prudential size risk are investing decisive adding regulation line more enhanced taking Specifically, actions the actions complexity. to sheet levels, Category Cat include our set Building X the liquidity brings forth ACL of our Reg reserve compliance. IV for YY. on-balance we relevant
another moment I actions management to will believe enhancing are We step quarter. risk a these infrastructure. more impacted the detail fourth our actions go results and in these on our how prudent in in
We impact to also This are the lightly. dividend We the our not the per was importance to our share. understand stock common stockholders. made decision $X.XX of capital accelerating and reducing build by our
capital While NYCB step our allocation remains necessary our priorities the capital. building under resetting to requirements, applicable was a all accelerate regulatory well of capitalized
We position that will long strategy company the these took in are continued we execution the quarter and deliver confident the actions of our enhanced value the fourth over term. to
we successful. $XX we actions the are to taking a bank into transition more the to XXXX, all and in bank We building billion-plus $XXX billion-plus believe even are make now foundations successfully a grew
transaction company now $X.XX reported common million Signature $X.X common stockholders or diluted million, or share. share. per XXXX net gain basis, $X.X diluted Moving charges, bargain excludes $X.XX merger-related an which On of income per billion The of a purchase to in assessment results. reported billion net stockholders related the to a onetime operating and for income $XX FDIC available $XXX of to special available
an the share. quarter the the actions fourth said fourth million several $X.XX or $X.XX In $XXX loss reported impacted share. a operating loss company quarter. undertook net of earlier, million a items the we per basis, $XXX XXXX, during we net of reported of per I On As or
million the provision impacted we undersell, by Our losses. $XXX for results fourth a including actions quarter were credit
and total fourth to third represented million XX as $XXX quarter commercial Let's million points basis compared stable estate XX, despite begin real December points nonperforming loans sector. reasons basis $XXX were or in continued of XX with some of in the loans asset quarter. quality. Nonperforming the in the the to previous compared XXXX, At totaled year quarter the loans
including repricing in an During losses $XXX banks. XXXX, December NYCB significantly At credit previous compared ] due peer our the [ million, our $XXX criticized weakness loans Category and office IV built the with was aligns of compared loans, up up XX relevant increase quarter, to banks, million the points for basis fourth portfolio, quarter. to we risk total X.XX% allowance better to XX, multifamily the address reserves in to the quarter which expected represented sector previous from and
quarter. lower quarter have of the XX X.XX% to driven the Net average compared points loans, for reserves charges built with loans by the XXXX, and was risk Excluding X $XXX mortgage or basis the guarantees XX Since fourth our third loans, were we by $XXX in million quarter points ACL in of previous loans. coverage government the quarter warehouse million. basis
piece First, feature capital we had expenditures. a with X for funded unique co-op loan
transferred sold is fall, the loan during for we quarter. in not the borrower first held the in sale quarter Although to fourth the the to expected be and
a Importantly, our to this other and uncover this is review any not did one. co-op one-off, loan loans similar
we in coverage additional updated the qualitative the based more on nonaccrual portfolio we Second, charge-off was in issue to This the office an office an valuation. became address our portfolio. loan the expected, office factors that of than responded one third and on originally quarter ACL the we had recalibrating and by an increase
for during we fourth accounted bulk these X charges quarter. the the loans of took Collectively, the
other on-balance took The liquidity. we sheet was major action regarding our
the This fourth liquidity ready sources applies starts to prudent we requirement the into monetized on-balance and be During than IV liquidity some sheet compliance. to have anticipated, like to which to build our Category liquidity we the Therefore, enhanced quarter, during has preparing our continued Regulation it banks. be contingent fourth meet we we to quarter, began YY was originally that earlier thought QX. of
impact $XXX We interest short negatively realized in term, essential a but bank billion our newly manage liquidity. margin we on is that prudently the this minted will that as it net
The increase points higher to than fourth XX basis next the margin. quarter quarter. to was costs. points. basis largely XX XX was to to liquidity and net to our the actions on-balance Moving down down X.XX%, lower margin third in net points This deposit related came basis XX interest sheet variance interest of points due guide compared our at basis guidance The
were of represented At for XX% representing while On unchanged. of in compared occurred $XX.X in year decline of the the loans C&I in loans, to loans portfolio multifamily, portfolio, loans, to quarter total held ago. by the the lending rest X% XX% the December $XXX XXXX annualized total the XX, total of from loans or multi-family while offset represented third a partially up million diversification investments a front, significant billion. growth total commercial Most CRE remain XXXX, of
in quarter. third the billion $XX.X million an Total billion driven of expected at deposits $XX.X deposits. the primarily The transaction. end deposits were to at related now custodial decrease to Turning $X.X decrease compared by the to was year-end Signature
increased total by noninterest-bearing million $XXX or partially the to annualized growth these deposits. Excluding offset deposits, X% driven third primarily CDs, the quarter, lower in by deposits compared
The increased loan from shift we March. Deposits of legacy to signature increased and deposits behavior. to CDs portfolio, teams, cost the retain due since higher customer not end to competition was the excluding $X.X did billion
XX, The XX, which the $XX compared million, of for $XX expense, the for $XXX million total XXXX. noncore XXXX -- included million months $XXX million ended this we the expenses. months were expenses, fully launch December ended December assessment Moving FDIC X now special to X [indiscernible] down quarter to
primarily to higher The fees. decrease benefits due expense, compensation professional driven by partially lower incentive was offset expense and by compensation
guidance. full us our quarterly In the typically guidance. to have we XXXX now provided year Turning past,
and to summarized Slides expanded providing practices, are guidance investor to However, on peer provide we more we presentation with which more our in in full XX. in industry line and order XX transparency year be have in
X% X%. on loans for to combined to margin, sheet full XX, actions interest year, of X.X% In X% increase increase $X.X and X.X% December inclusive to X% between YY a compliance. total basis. have Cash The deposits ending compared the billion liquidity declined for [indiscernible] on-balance Regulation increase we net expect to to XXXX, to XXXX. securities to [indiscernible] total balances
becoming $XXX of includes in to to of from XX First from year $X.X costs Category compensation million the bank. the Bank $XXX banking million, deferral Signature impact Noninterest Bank, to Flagstar. from a and and approximately billion income income minimize range the and IV Operating in Republic savings to $XXX Normal impact million a customer order increases billion impact expenses of million additional full mortgage-related of $XXX $XX benefits related due $X.X XXXX Bank, of full private which range to in teams year to conversion-related the Integration former expense million. for Signature
capital ratio prudent balance taken for CETX sheet tax and IV Category XX% company our rate. become XXXX, full be XX% as XXXX the holding actions a expect bank. having a year-end year We at by entered regulatory to We we
a to and that to development cycles. track place will Importantly, in and we we navigate are growth for record our across believe proven and positioned business deliver deliver it a organization enable confident the us an are well value bank has stockholders. long-term to solid foundation We customers, and as
special our Finally, a I to for would thank all like teammates. say of you
the fantastic appreciate up may the clients, that, you to have. happy and We Operator, deeply as And for line any be answer dedication we team. questions. and we'll have open questions commitment With a always, communities. our to customers please
