Great. Thanks, Tim.
As it usual, noteworthy we and interest with Tim cover the some through some I of just will income. referenced go starting numbers, in statement these detail. will Ed net but income categories, of
million net of year. interest prior compared the was net income an to $XXX.X due That For the growth. the increase million totaled as income last million to of increase to was $XXX.X fourth $XX million. as compared the quarter an of in interest the an of as third and quarter of to increase fourth quarter The $XX.X loan XXXX, compared in million $XX.X and net quarter margin interest increase
interest on the yield XX funds the margin. on improvement the As beneficial contribution, points earning resulted on of a in of the increase in net negative impact a assets liabilities a free paid combined X.XX% improved in quarter, increase margin basis in the with XX-basis-point brought increase and basis the a XX that point XX-basis-point net on rate it to fourth
the yield The primarily liquidity in increase the compared its higher yields the held prior short-term assets management was company quarter higher as on in and improvement due investment an securities as on and to portfolio. deposits at earned banks XX-basis-point earning quarter asset loan its fourth interest-bearing yields on yields to
deposits. paid rate let the the went by the quarter I refer the on as in beta, you already on liabilities was XX-basis-point interest-bearing interest-bearing deposit his the prior rates in quarter on increase the Tim increase through paid to a to will The that. fourth comments driven compared in so
the fourth ago to $XX.X provision million a of losses losses, year the compared for credit million quarter. of Wintrust a in in recorded provision provision provision million quarter prior and $X.X expense to the a $X.X Turning for the credit in quarter, recorded
credit quarter estate expense the the macroeconomic loan real contributed in wider that projected we environment also Stronger was use. favorable primarily forecast less growth spreads conditions provision index data The for of result expense to fourth and less included including higher in favorable commercial quarter. the economic price provision a
but and better detail, remained really know the pretty net relatively talk stable delinquency about in and classified mix will the that or credit quarter’s Rich of charge-offs, loans good. should current more data I the all
losses level, larger forecast signaling specific the of in macroeconomic So a provision the this have significant of credit a CECL is it’s any that expense. a of as quarter’s the issues, And the models. our not did we not use those fourth factors not function for impact said, expense on really level Tim it’s really
to from expense. was Turning income slowed $X.X related at level the and non-interest our primarily and non-interest the $XX.X to quarter revenues decline quarter in like just was fees in wealth the the were in business, deferred of income down prior quarters less a been had very In prior for for the other which strong the non-interest associated exchange fourth our tax quarter. kind million this bit with management million quarter, revenue section, and
overall our due quarter third lower experienced to with and rates, decline the trends and relatively industry mortgage revenue loan from higher lower production home the mortgage a banking volumes the million operation of margins during impact Consistent quarter. of $X.X origination
quarter season first it’s environment the to in important the low be purchasing business, seasonal to up the the continue part trends, to rate volume due still to starts but in pick expect spring volumes origination buying and mortgage we the an some quarter. in second our expect We and it of
securities net loss the million The compared portion investment company valuations our losses $X.X equity in recorded conditions as to the of million of net securities to market affect portfolio. fourth and quarter, on $X.X continue quarter a during a approximately prior
compensation was of Other which $X.X support the related quarter. quarter, million the was non-interest BOLI increase contributing reason income approximately totaled recorded prior deferred in amount the from category higher that company $X.X $XX.X to this earnings investments BOLI The which million in certain benefits. on is million the primarily that income, in for fourth plan the higher recorded up
that And increase during in in increase a I income compensation that, quarter. offsetting million the has similar note expense BOLI the so should $X.X
those So quarter. for as they -- of there far categories income is but goes, net have increase as an the both in net sort
negative the quarter prior quarter adjustment. buyout a the certain of $X $X the early loans, had million buyout loans a million our on whereas on valuation had had the whereas buyout Additionally, negative -- current approximately quarter loans, early insignificant adjustment early an prior valuation
reason compared expenses a for $XXX.X over total to Non-interest related million. prior non-interest and expenses. due we $XXX.X to are little factors. quarter variety million significant $XX totaled Turning contributing of the a when higher compensation The increase in the less to and was million of the expenses up other primary fourth quarter
$X.X quarter million as $X.X Salaries increased fourth employee benefits prior Relative quarter, increase were to the and of benefits expenses quarter million primary higher of and the of to $X.X the higher causes. employee by salaries expense approximately the the the of expense compared prior in million year.
salaries compensation higher expenses, by $X.X the costs. deferred caused million As to so increased it’s of
those related people and to some we income health are As benefits related the statement I before non-interest the to the underlying use in exclusively mentioned, on on benefits investments as of the partially the of income to their income recept. deductibles almost the higher BOLI part quarter recorded try insurance employee where so quarter, the health up elevated side, other fourth during claims generally the
quarter, bonus then and accruals Also were for compensation although slightly mortgage that a earnings reduced, category. the incentive smaller related did we change lower although commissions some from was higher as in the banking was that long-term but quarter and the reduction have level, compensation to incentive a commissions higher
expenses marketing fourth the and the by compared Advertising decreased million in quarter. $X.X to prior quarter
don’t sponsorships we do be and the summertime sponsorship less first less have major baseball lower various expenses and events discussed due sponsorship expenditures on quarters in of related previous As year to this to that category of time. winter in and fourth calls, marketing the obviously league the to tends minor we and
were approximately we the implementation in with $X.X financial systems. to by primarily in million new fluctuations processing related services conjunction increased fees of utilized the and fourth customer some related These consulting quarter. Professional various that
think expense million worth included Other the which operational none other quarter, call. this $X.X normal by which I for of noting are fluctuations, a miscellaneous during of million a charitable and increased contributions variety additional $X.X
declined XX% from the a Our not the increase third in revenue. quarter XX% did fourth commensurate to expenses quarter the as efficiency in ratio rate for increase with our at
over I that, turn will Rick it cover to Rich with to And -- credit.
