quarter X. We one-time common on and of was and Beth. merger-related Thanks, of per share I’m per from related earnings tax items, adjusted operations impact common reform notable reported $X.XX the income share. items for including continuing net fourth charges Slide Adjusting $X.XX.
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tax Importantly, federal in going the lower reform tax will rate income Key for forward. a provisions result
year-ago part As many the we so slide XX% this of average I to million our rate I’m remaining capital items clients my markets loans $XX for and XX%. compared effective of taking the decline tax billion cover to advantage third XXXX, on of the alternatives. expect loan presentation The Slide turning higher XXX million the outlook up were of quarter. X. attractive in paydowns down now from rest and will and between Total $XXX a reflects quarter of
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We continue core for of our accounting to with mix. deposits a have base deposit strong consumer XX% deposit
third the XX quarter. $XX compares accretion to level, margin interest of Taxable-equivalent in quarter was income fourth This fourth From or XXXX the approximately contributed and the to decline X.XX%. our the XXX accounting results XXXX. These accounting for points million third of interest and points a X.XX% taxable-equivalent Turning or in in expect million by to $XXX with quarter. XX% XXXX million net interest $XXX to purchase million quarter income margin accretion fourth was results. and per and Purchase quarter basis in fourth $XX X. net quarter X.XX% the quarter XX million a compared basis interest net Slide we net the
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interest was was relatively to in loan accretion, lower increased reflected quarter. income the stable higher balances Excluding the in purchase net increase low as and and term during from betas quarter, $X.X compared offset the accounting benefit earning short liquidity by rates the assets billion prior
to in balance modestly continued growth core the the expect margin, net in year XXXX our the which increase We rate accretion, full move interest higher excluding middle one XXXX accounting and purchase assumes year. compared of our sheet to in
the offset XXXX card tax-advantaged Payments higher Moving quarter. driven fees charge of for by billion year-ago million. was income and merchant businesses a year-ago and fees from $XX an increases Investment income XXXX, to were tax to markets. Services million assets. which the million, other year-ago strengthening income to benefited placement largest million each credit income was banking $X These the banking, quarter equity across third from of $XXX Slide were partially all quarter XX, decline our increased capital which in of $XXX investment compared related increased Compared debt income the and debt strong with from were growth Key’s related the the impairment income in This lease in noninterest record noninterest of income Momentum but this along offset expense. which by was mortgage and from million $X markets from to for reflected million by and Cards areas, prior many by was largely lower the decline lease largely million banking $X offsetting the leasing acquisition up The fourth $XXX these and gains residual to the We quarter. a broad prior other slightly $XX Growth another and quarter quarter reflecting and the $X period. growth of million based drivers a of $XX increases increase income. commercial driven losses period fee-based in in grew quarter, as placement other fees Cain by placements, grew is investment Operating in continued Brothers. Trust million
was marketing assets in The for including other and quarter XX, items expense. a mostly of and the retirement an personnel well occupancy, to million expense actions. the of other Merger-related of impact quarter tax-advantaged additional of net one-time charges the $X.XXX reflected XXXX Turning Key’s million related a of reform included of $XX impact charges certain impairment $XX of of million merger-related XXXX billion and of and impact for as and actions fourth fourth had $XX reform reflected nonpersonnel as expenses the notable tax related and accounts. employee to including expense number contribution noninterest Slide tax expense on
items, period the our Expenses related was unchanged quarter. Excluding at expense million $XX for including to $X.XXX acquisitions Cain ago notable noninterest totaled prior-year from the the Brothers billion.
also were We realization increases other savings. of these temporary that operating higher First and lease had expense costs elevated. Offsetting Niagara was cost the
compensation related expense related performance. noninterest strong increase Excluding early lease of nonpersonnel markets higher increase largely expense. expense in million in increase Brothers to increased of in XXXX. the quarter of expense of expense The expense added capital was occupancy The lease and third as as in net as net primarily personnel well from notable million expense of result increased total to operating which $XX related other to incentive noninterest quarter increases acquisition charge-offs items, was as primarily The certain in the operating was a fourth the $XX accounts. the well Cain
losses credit were quarter average XXXX, continues basis provision total below loans. the credit December the which points our represented loans were remains our be in period-end of quarter. on for loan nonperforming for from our Net and represented The and losses $XX of X% of targeted million XX total At XX million down quality or strong. XX, our XX, fourth was range. loans for Slide to coverage quarter, $XX to $XX charge-offs loans. reserve points Turning basis million Nonperforming the XXX% prior loans X.XX% period-end or
XX, of Slide the reform was X capital share ratio also the quarter a X common and XXXX at capital the XX.XX%. impact XXXX. to will basis we in Tier Tier of the plan, previously fourth the dividend points in This strength per no was our by XX ratio quarter equity quarter with our company, equity Turning Consistent remains reduced second common fourth change of tax which share common increase of dividend end The there capital our our $X.XXX in announced with increase. our declared a be of actions. an XX% common in
We along also XXXX XX common had of share covered that our the repurchases million Slide with fourth goals is in completed $XXX during her long-term the for remarks. outlook quarter. Beth earlier
than balances average expect range loan $XX.X $X.X to slightly range our middle to to can expected adjust for billion the of be and to be less one in is loan Net the during different that with are of billion assuming of to in outlook the In growth interest grow provided $X.X assumptions. billion billion appendix the increasing year. year. used balance We loans. sheet the $XX.X increase new slide Deposits to expected additional a with rate we’ve income our the pace increase interest rate to
return we as point out basis quarter be that reflect areas approximately corporate $X.X seasonality to $X.X normal to in charges with we revenue progress count, Niagara of expect record point and synergies be fees from to $X.XX synergies For of each continue growth $XX billion no and quarter levels expected to Niagara will forward. going in is fourth loan in XXXX. noninterest a reference, a Noninterest performance normal rates First of would our higher first rate in We made billion to expect owned income billion. the fees merger-related the results these There anticipated XX translates range fourth our deliver insurance. and the lower income core will also billion on quarter. more first expense to range a drive We the as an First would results due in per run and below normal our debt net should investment to to banking life like a business such I to see placement and in interest substantial quarter be seasonality quarter. million again, $X.XX from to be increase day
normal the decline quarter in see a to in quarter expect which trends from the result We seasonal current expenses first levels. and fourth should
progress operating the points. to remaining our also continue $XX targeted we are expected to and targets. with our We in ratio saves additional first range and offs early XX the XX in generate realize make efficiencies expect charge to positive to efficiency First cost in million to XXXX Niagara to leverage on a Net identify remain quarter, majority basis continue below of will
slightly charge a message Our provided we’ve I targets. level I that that to GAAP change year offs rate to to good adjusted a loan long-term previous XX% to step performance close down loan talked tax was growth, with that should level loss for Key net in a provision consistent consistent and XX%. with our exceed for will our with moved our a about earlier. It of us
reflect head XX%. operator what now for is very new we instructions to the XX% a operating be year, the portion for the more we to positioned our call revised we of return a improving over to over our off Coming basis in range Operator? new common positive with equity of efficiency Importantly, a have our I’ll into on ratio we well we outlook. target And as target Q&A points our turn to shaping strong over XX% our a much our XX%, results of improvement set by With guidance our of XXX and stronger points, XX%. improved have back to are we to XXX call. to up believe moved tangible environment.
