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Gary. you, Thank
everyone. Good morning,
you joining appreciate today. us I
our As the for released earlier you all aware, are earnings fourth morning. report this we quarter XXXX of
additional our also and have published updated presentation We an disclosures results. financial with on investor information
If you visit you download copy our encourage and presentation to to of website have the so Relations related we done a not already, Investor materials.
items the will our we Ron a financial read will to few release notable our review forward-looking that then a and safe open you related relative to comments. I performance. up walk our fourth encourage of include also surrounding to today's through results note harbor Nicolas, the statement.
On presentation carefully quarter that of call call, I'll and details the investor our questions. of I earnings each some statement CFO, to
to want discuss currently unfolding take in the events to a here I California. Southern moment
the colleagues, future Los Our We needs affected out wildfires support our in challenging by everyone during the in efforts. California neighbors communities' this our hearts time to Angeles ready and to and devastating including rebuilding stand go area. clients
communities several we and proudly Pacific commercial serving remain committed the a home.
In businesses. homeowners products support both partner call lending a initiatives and launch in always, expanded source consumer strength Premier displaced with for as will and response, of to the As financial to we and services
those process possible. support product enhanced with financial for streamlined these offerings, intention With affected efficient, to to our is as the an the goal soon as necessary provide create
efforts began. restoration Our
businesses Rebuild related capital be the there contractors to L.A. as and of will a part primary our provider We as initiatives. builders,
are Of impact their level approximately assess wildfires X totaling some the Our residents our million clients the preliminary affected the $X loans teams of by business. personally as indications sustained the on well fires, damage. are direct have and of that clients' to indirect as those continuing
multiple secured properties. well that million a However, single by $X and of those collateralized credit is reflects loans,
closely clients in are impacts ready monitoring on our weeks with We and over those and situation need coming stand corresponding we work and the the ongoing to months.
at Looking results. the now
a average delivered financial a and return team XX of on earnings position. $X.XX, return assets closing equity year on in Our tangible the points per of fourth share We a a X.X%. basis common strong solid of generated quarter,
XXXX and and Our This to performance resiliency model. our business the strength clients, success business to customers team, throughout bank. small new our market was the entire testament driving a the development new highlighted business of organization and relationship-based outstanding of middle relationships, existing the our attracting deepening efforts of
national fourth complementary quarter, Association. I'll bank our note Banking of model a a late that better charter is supplemented National This aligns our West chartered from in to application Coast in our banking business the change to by business. that the approved California OCC convert lines
loans and economic more sentiment sheet funding a our $XXX by during increasing borrower liquidity allowed mix, short-term lower-cost $XXX which effectively million favorable deposits reinvest million. positive trends Amidst overall into the deposits treasuries, excess by higher our to transaction while in improved quarter, shift outlook, balance drove These cost us enhancing reducing U.S. encouraging a position.
X.XX%. to declined level X as deposit a remains of absolute peers. costs decreased points deposits cost we Overall, funding relative low of the lowering in spot cost While compared our basis our X short-term at year-end somewhat made on cost our rates remain when progress of points funds And basis elevated, basis to X.XX%. to our
potential driving loan funding the a growth such, further, we timing of will As toward balanced of Fed and approach while which down all by take likely be pricing will moves. impacted magnitude
for trends with rate CRE. multifamily opportunities our interest positive originations as growing renewed provide preelection clients about future. in September, construction, well optimism in initiated loans and as the confidence high-quality cuts and of coupled the business having among observed These commercial organic Reserve resolution uncertainty, in stronger us Federal the with With we
slightly during by and portfolio driven loan Our the increased quarter, increased C&I consumer loans.
$XXX During third accelerated XXXX. quarter, million, highest quarter our totaling the new new with of level fourth loan since the commitments origination activity
the up As we ramp complement our established fourth business and to purchases our organic growth loan teams pipelines we build in established expertise. in momentum lines strategic loan of loan where on with continue will participations have the quarter, and
to leverage acquired we expect to originations, but and of production quarters. We not in a to predominantly the this overall loans of C&I modestly small relatively loans. credits up them comprised loan make coming portfolio investment-grade add supplement may portion our are existing
management by XX. September risk capital ratios, remain demonstrated which continues a priority, from robust our Prudent to increased
Our at year-end. equity XX.XX% respectively, total and XX.XX% risk-based ratio tangible ratio XX.XX%, capital and to common increased
On basis, XXX the points, capital rank ratio Index. total continue near capital and of basis increased our all a year-over-year top risk-based KBW Banking our ratios to nearly Regional the
constructive move in approach strong into deposit robust and loan business our adopt As to XXXX, well levels growth. new we driving momentum position and capital more through a us
Customer positive deposit were as an in saw cost the increase lower during we trends quarter deposits.
will the We estate deposit and commercial lead year. are activity increased business growth additional as optimistic cautiously we to real that move through
drive bankers our new interest on income us higher increased expanding levels both of earnings ahead, enabling relationships, are and pursue risk-adjusted to and deposit power. attractive laser-focused opportunities and of Looking existing team loan to net
to loan-to-deposit was our with ample As growth XX.X%, liquidity us our objectives. of fund December ratio providing XX,
rate disciplined, somewhat but we Ron will detail be pricing, additional on within his our forward in regarding interest comments the remain provide dependent ability will assumptions guidance. to year make immediate outlook will our unfolds. full our how Regarding adjustments
as important evidenced strong relationship has note average deep our client Our years. long-standing our that to It a over philosophy XX emphasizes tenure of is through is that franchise by base. deposit relationships value built client
we saw benefit discussed during positively the took last strategic the summer I production. call, during we loan As impact our actions from to the
X.XX%. existing and ahead interest new nice scheduled resets. team improved have new in balances rate competitive of The loan loan a our successfully in that attractive into maturities originations has which managing rate market, an translated average position of carried We weighted activity is the pickup on portfolio
result, As customers. production million existing a saw we in $XX for multifamily
production Having In moved uncertainty, to expect past consistent key our quarters, exceed or of the our meet fueled originations coming expanding deposits. the efforts loan payoffs. with anticipate prepayments previously low-cost ability factors organic level we that broader attract and to we
and loans results risk million benefit or as results Asset million, fell loans. to continue strong quality us throughout effective These million our decreased and management, of and $XX our nonperforming $X.X quality our X.XX% $XX remained to to total approach favorable delinquencies asset to demonstrated stakeholders. history will credit represent
turn more the call I'll financial our few fourth to a on provide that, details With results. quarter to over Ron
