Good Thank appreciate morning you Austin. joining I everyone. you, us today.
this As also we details, morning, relative this we'll release call released to review and first priorities. and earlier and notable items, have a this the then report comments of few that I'd note productive is statement earnings through in those. of aware, was look we Safe questions. I'm to Harbor busy managed the and going Nicolas walk number XXXX. quarter you're for take quarter to the of and of of Overall, the our very open read to through a some a up forward-looking for projects Ron the a as our I'll you all our earnings encourage going all morning, the financial to team
completed integration set clients have for We is definitive due Plaza weekend. prepared and this which acquisition are diligence, Bancorp employees coming and the signed Grandpoint We of the the conversion agreement a and well Capital. conducted nearly for system negotiated of announcing the
headway identified made our the in Grandpoint have we the have markets. key significant We company in and the team for presidents of regional integrating combined each
the employees all of status transaction. their closing Grandpoint have the Additionally, been notified of in following writing
share take quarter, place reported first $XX On a profitable of of the year. is preparing quality, income quarter basis, system October and which for per in or planning GAAP merger-related $X.XX we this team includes will year. Grandpoint a of Our the diluted million we of And in the this during $XXX,XXX which growth expense. generated net importantly, conversion
On we the New had assets X.XX% softer XX.XX%. had Excluding generated Year. fourth a common last resulted on in that the production per return into return in being we call, in a average loan generating strong the equity mentioned and on of of tangible our pipeline we $X.XX the earnings average share expense, merger-related quarter going
following closings down optimism million commitments, quarter but is of we sheets. lower of the fourth did who that loan than were see as demand. that liquidity reform, during new clients despite into loan also the down noting implementation generated sentiment quarter, debt not year. worth higher their from last effect business deleveraging quarter first It’s $XXX the Our materialize which tax tax reflected corporate X% and balance strong the are rates Instead, paying from positions the we increased benefiting and that higher of loan
Additionally, we’ve seen loans. increasing competition investor-owned yields within some these for has CRE asset in unattractive which of multi-family and classes, resulted
$XX function our than to in this on lesser quarter. decision extent, a million and commitments we Our disciplined these will approach was multi-family CRE loan new our to products demand. lower overall production loans last as raise In for broader on softness of Again, and aggregate, saw types. the our drop to risk not these was rates investor change and approximately a appropriately loan pricing such, loan soften interest
or commitments. first service the will franchise construction, focus are loan to to SBA and $XXX continue loan relationships the expertise, of more which and generate key totaling our the loans, risk-adjusted quarter these of XX% C&I, Most outstanding enable We accounted on notably, new yields. in where production our for areas attractive million us majority
will We last higher the and the originations that asset on result will focus of in yielding up be from a and stimulative to classes, effects production remain the tax demand average of pipeline are strengthening demand X% new that months. higher on we has seeing quarter. first the loan a build was loan of may that in optimistic our increased begun loan X.XX%, into loan reform pickup translate rate coming our hopeful as signs As and we translate our importantly, into economy
higher we maintained. impact Despite in X non-interest-bearing the saw by pricing grew during we pronounced has cost seeing to net of point money of increase in basis our model. the quarter. increasingly are a annually impact our we helping our our our highlighting to yielding the by effect become competitive Our deposits cost quarter Deposit competition, focus most relationship-focused and loans X% the are positive X% mitigate good on is on the deposits products, portion commercial deposit the our overall almost of and business deposits margin. particular, deposit our Overall, market interest where increasing on during balances first a
However, the interest net able still on X.XX%. core to hold assets, earning yields margin our higher due to we at flat were
the Southern the announcement event most able the our major our our strengthen experienced in of the market, will and efficiency. strategic in and sufficient talented thus the of we threshold Grandpoint leverage of elements improving acquisition build With course, our quarter operating Of Capital. surpassing to two highly asset of plan. upon that California Add significant billion was presence a team and are achieve Grandpoint, meaningful way, $XX further banking commercial and scale in long-term a add
bank the completion the in some attractive this most country. the Pacific be in a with markets Premier nearly a transaction, strong Following $XX will of commercial of billion position
significant leveraging already I close we to and amount As strengths completed a combined eager organizations. previously the both integration the of are and of have transaction this mentioned, begin
importance at are team’s areas are is this ability current bank. combined low in such, the the particularly further the area even capability product of specialty investments takes clients optimistic to to as team the to track new environment, about cost that deposit gathering deposit making One enhance we Grandpoint. we In greater the and on
XXXX, in of believe which value that the we will the ahead. in be upon rest solid be will the further the years additional build incremental to ahead year and franchise Looking a this driving strengthen in we foundation
We have for clear XXXX. priorities in place
in Plaza integration this completing of the coming First, we weekend. are focused on
from the third see in system additional Following we quarter. start flow expect through transaction to the conversion, to this savings cost
focused the project we Second, completing Grandpoint we for of systems, their this integrating the transaction. operations, that acquisition, conversion fully the synergies on and their core are realizing
we are as to asset regional both loans systems ensure continue requirements Third, $XX profitable on threshold. to we And focused investments cross growth the we company’s expectations bank. we for and To the people billion meet in the a and infrastructure, fourth, growth that heightened make this the remain generating quality, regulatory we deposits. end, high in for preparing
company’s coupled the provide I approach with the am little With to going be a Ron value. results. With and acquisition, of development positioned the first over more Grandpoint, we to on well bit our unique to business improve client our to franchise that, further turn call detail Ron? to quarter will addition
