Sean. Thanks,
$X.XX you were noted share, earnings and earlier, PPNR million Core quarter $X our As to were million. core EPS. in declined fourth $XX by $X.XX per
held-for-sale. payroll million X, and on balances deposit recorded were to core and we as sell total sheet past the impacts On expense Adjusting an declined high primarily $XXX In in This review acquisitions, to charges conversions $XXX on on reflected short-term million of this our following at the consumer X%. some an we to and in PPNR, related increases pandemic deposits We our believe is so quarter-over-quarter the is million. our impacts business We announced and services million $XXX constrained on been the limited other had volumes. of an assets sale, $XXX before these we and year-end, a of servicing and included also or additional professional $X income to in loan to $XXX increased investments transferred $XXX this addition Securities. categories. comment balance Pandemic interest loans by Mid-Atlantic and completed a as that by December million loans into we and agreement as Investment has up funds unusually and of on quarter. expense loans I’ll PPNR, result, to further branch impact project approximately to fully minute been million non-accruing write-offs loan well an the invested expense, million recognized and statement. take has branches for elaborating operational workout
assets wholesale or We earning approximately average X%. and $XXX by also funding, the decreased million down of paid balance therefore
single-digit pace growth a targeting Looking mid loan we're forward, commercial ex-PPP at in XXXX.
from due portfolio in originations, slower correspondent to banks. plan and grow also to footprint We pre-pays purchases mortgage higher the
expect sensitive and runoff borrowers. We business some this such to working offset as continued commercial we’re down of indirect types of aircraft certain in generally growth auto COVID
or loans. to up PPP the is impact So before stable portfolio expected the be of generally slightly
$XXX the be remain expected in payoffs. first-half forgiven due to of year, to expect and the down million We to the our total PPP that are be loans therefore these of in books most for the year loans on
we've loans, a these on up sheets. to expedite Sean balance and engaged won't noted, our so third-party new PPP show As
well to and of to the handled see fee some hoping as to round, volume XX% on up expect as first related We’re that income receive deposits. the the we
as loan the run-off, balances in earning We to the also Mid-Atlantic sale. of total well as part the reflect sales expect PPP assets as branch
funds come allow may in down Securities replacement. we costs wholesale Investment without Additionally, run-off as to higher
for to of at side decreased billion the On and year. for start $X fourth to along the approximately funds compared the increased of the with Wholesale $X.X X% end adjusting payroll all and quarter deposits sale, the quarter, the quarter. billion the the at year-end for branch balances, billion $X.X third total at other deposits liability broker
to see growth XXXX low the year-end. funds Looking expect decreasing in $X or with brokered while we in wholesale to single deposits billion forward, we digits to expect total deposit further borrowings pay down organic less by in
to deposits a earning average We assets the in the Turning the down with cost back quarter fourth margin, including down pricing Mid-Atlantic reclassifying income as decrease the change cost increase moved statement, interest and of to the income percent in was held couple in deposits down no the support impacted the loans PPP margin. forgiveness. net for income recognition was to in reducing brokered benefited the deposits, interest higher time maturing and non-accruing from from by revenue negatively Loan due accounts, loan sale.
to as re-pricing expect further see margin than continue more forward, Looking to benefit assets. on down focus deposits we we
asset to expect likely is benefit the year. The stood mostly of recognized the PPP at forgiveness than of lending. yields deferred toward to the unamortized this by at interest We PPP be fees additional $XX net more change income expect core income the from of assets. in Separately, the first-half offset be lower million mix will earning that XXXX. benefit we more from balance impact benefit loan year-end The in from
the income, quarter banking, fee had to which for normally across most in categories mortgage good except lower. fourth seasonally results Moving we is
in to million $XX $XX to fee continue target Year. quarterly in We New income the million
recorded will on higher significantly our markets. fourth primarily pandemic expense, increase provision provision the the of we impact expense million Future quarter. non-accruals in on qualitative from prior model. the component the impact severity to the of and Moving its the $XX our quarter The in reflected of depend
loan Core impact problem servicing primarily in $X to GAAP the due increased expenses, of total mentioned to primarily non-interest the recorded by loan third the decreased Turning related related separation quarter. along with to project to the earlier, related I due million, expense expense CEO costs. the non-core costs
the non-interest initially expected Looking The related forward, partially of branch year to second-half branch are initiatives to $XX loan we're completed. expense. below initiatives in expense from targeting our manage our after million benefit down offset be per core is by quarter the
XXXX, Regarding we for benefit the higher XX%. have to a in year, In the provision due primarily taxes, area we had to tax of tax rate expense. a the expect core
branches. to expect of charges As related net previously record gain the we've the XX operations and sale Mid-Atlantic we noted, on to a consolidation plan the of
as on expect earnings with the loans, we while to these be to we XXXX, from report that to assets lower also non-core items decline year. Based expect during continue We the in operating of build the PPP first-half will asset capital. target
on return that Our that as improving financial of equity, on we is our objective XXXX. be will through focus move hopeful and supportive we're conditions
the role Before I'll team CEO in I our at Berkshire. close, previously as I've the that work Sean. doing forward over to and so I'm opportunity I'd looking With new like to Nitin's call new had alongside here to again that, our to of leader turn back the share
