Julius Baer, the Zurich-based private bank, has taken an additional provision of $197 million to supplement the preliminary $350 million set aside in June 2015, the company said in a statement today. The institute took the step based on the terms of the agreement in principle with the U.S. Justice Department.

The fine of $547.25 million is subject to the final approval by U.S. authorities. Baer expects to conclude the agreement in the first quarter of 2016, ending a four-year investigation.

Baer Expects Full-Year Profit

Baer will include the total provision taken in the 2015 results. The bank still expects to post a profit for the financial year 2015.

The private bank was one of about ten institutes in the so-called category I against which the U.S. opened legal proceedings in the tax dispute. Some observers originally expected a fine of as much as $1 billion.

With Baer's agreement in principle, hopes are that the Swiss financial community may soon be able to draw a line under the tax dispute. The category I also includes the cantonal banks of Zurich and Basel.