and good morning, everyone. Thanks, Rhett,
the allowance our to million officially to to slide conjunction ACL with to adopted loans for total $X.X credit our Xst, X.XX%. adoption, CECL. increasing it move January On our we added to In forward $XX we million nine, bringing allowance, Let’s losses.
will $XX.X over fee discount of be the recognized transferred million of value account, which was to loans. an we had that unamortized life subsequently fair the Additionally,
commitment million. tax reduction a of also net adoption liability. of resulted recorded unfunded $X.X to in $X.X We million equity The a
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detailed On our would at highlight. slide XX, we like the few takeaways A a deposit we of composition look to provide portfolio.
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of XX% are either deposits collateralized. our guaranteed Approximately or
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previously deposits lastly, And mentioned. deposits public our totaled the million, $XXX which million almost $XXX total reciprocal includes of
extremely are broad to industries we in the and as built our a have geographies. of range diversified we deposit spectrum such granularity around Overall, base across intentionally of fortunate business of have serving our a needs clients
light on our have to of consisting uninsured additional collateralized the the our cash, of slide events, billion information added representing funding in Moving discount deposits. of securities we available liquidity XX, FHLB over recent over of unpledged liquidity, some $X.X position. X.X window, from times We currently of regarding lives and have and coverage
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we you increase more securities. XX, had in both this cash quarter, will see notably, slide On that an and
distressed securities time, purchase unique $XX buying simple, we institution. opportunity rate one point at we this think, took discount deep to may As securities a a are of SBA advantage of of a at why from floating million approximately
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loan our was quarter, portfolio and the the for of month yield less For it fees X.XX%, was X.XX%. March,
our increased and the deposit an month for XX been driven first points, XX%. was approximately deposit quarter end, of Our X.XX%. increased beta basis the which costs, March by has X.XX% cycle the At cumulative liabilities totaled interest-bearing for quarter during
estimate Looking end second to of ahead, modeling our XX% beta of approximately cumulative beta quarter and a are by be we the the cumulative year. we XX%
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the $XX expense discuss projections, projections, range. Given we we will maintaining in operating anticipate these margin coupled income revenue million momentarily, non-interest the with and
position an price disciplines To an rate. pressures. end. liability position extra in index XX/XX deposits approximately shift at of are various to counter additionally, our was market primarily of we from shift neutral This this some XX, On market generally movement experienced $XX funding to of sensitivity not the of the approximately see strategies growth and reinforcing a to you existing money also pricing we an slightly a markets, from only quarter million at driven at money by slide but $XX new sheet rate pricing balance also at sheet that looking will million index impact, ease rate, sensitive
income remained XX, quarter-over-quarter. slide our On operating non-interest flat
capital were markets market management of wealth impacted was to volatility. results both quarter which activity, times of and slowdown are first attributable heavily than our decreased the expected, While in lighter
As markets our return to stable steady, to platform we expect income production. entire reoccurring
to for non-interest quarters. Looking ahead, several million we the next the range anticipate our income be in $X
guidance XX, we coming see the expenses, did in quarterly job unchanged from slide prior and than On a our better virtually operating in great our non-interest linked-quarter. you managing
ratio internal pressures on revenue to XX% efficiency did it than result a for quarter, rise While the rather was the increases. external market of expense
of next quarter, salary taxes. associated in run at quarter with and merit expense range, we million, represents increases rate which $XX.X are expenses $XX benefit forecasting Looking million full a a of and
we acquire before, we as ebbs clients various expense term, flows categories longer we reinvest expect in drive to value. our serve and As and said and in shareholder do ultimately ability
On capital. slide XX,
in our our quarter, AOCI positive benefit and from the position. During capital strong earnings movement
our fully we growth fund As rate earnings we move capital generating to ratios. at XXXX, a through anticipate sufficient and build
growth. prepared continuously While strong today, to strategically monitor our book ROEs and we if capital and capitalized adjust quickly are needed, are we levels and value well deliver aligned to tangible
With over Billy. that turn back said, I will to it
