We've Thanks, for talking years. Terry about per growth several and good morning, share revenue been everybody.
is per share share expenses, grow share earnings we you attention if We of there revenue is are many [indiscernible] per is revenue best we know, expense of the about growth. and pay It one of more fun on while per to or we growth. easier believe plus headed north to initiatives. revenue whether measurements is focus As winning losing
continue per slower, you months, digit to For growth. the XX we trailing experience our basis double was revenue can share see, as
represents year-over-year growth. group’s dotted the line Secondly, the peer
this integration be the more the in during of time in many shown of North internal around recent know Keep outpace to our peers couldn't are they consistently I mergers of we chart, a pleased per working well Carolina. mind As with is the revenue Bank on assert that with significant peers and share. outcomes. continued have the focus
Let Pinnacle. me say about this
really proud efforts objective stronger Virginia. value employer are of whether loans, earnings book expectations any and et measure, new cetera, those investor the We retention, team's it's tangible growth, in in positive in to deal our We believe hires, significantly but and creation, respect with great into and Carolinas said, peers in by Carolinas believe franchise not That of of a deposits, and Virginia, Tennessee right now. we’ve the we've we we a as likely our energy our runway those markets. entry of only lot left, well got have our
taller is associates excited taller. engaged, the XXXX. firm our for on XXxX, bars focused offense remainder blue of Our and just opportunities get are about those and Hopefully, our
Now, loans first ‘XX comparing to our first ‘XX average loans, growth annualized quarter average approximated quarter XX.X%.
to We growth quarter Virginia, be in continue was mid-double XX%. comparison Carolinas loan the of quarter organic of nearly will the their and that first to XXXX XXXX for low loan In to digits believe first over XXXX XXXX. the our in growth
greater be the XX% produce to Importantly, key and loans. in obviously C&I working franchise growth. our their deposit should as and C&I C&I CRE growth a and total platform owner is core our our Currently, book than from growth and experienced seem estate occupied fee These is related perspective. real owner C&I goals to things up Creating robust XX% to of than year-over-year. occupied grown they've commercial more
expect the nice be we're We things quarter, to second seeing happen fairly quarter. loan growth consistent in this some
start anticipating and work still back on drawing are through components, half for loans. funding We as year, increases their construction equity projects in the of the bank
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chart in goals. the income. of impact that extra large chart on we hit but type. growth are you We small right not tickets so the this the also The interest that it's appreciate regarding on is relied book better provided information, our can by on busy, of offer somewhat loan granularity on loan information loan our this net the detailed We the to we’ve discount where accretion
was future. We earnings overcome growth it and will to of balance ability chart on headwind is As to line, our discount key less at our income deliver of gold know XXXX see interest the was to a our you discount way less that bars less continue particular less of those to GAAP net be be by revenue going where to can our to in quarter and attention Anyways, accretion the through are the results is this the our our sheet in to blue entitled impact and obviously growing and blue growth. the bars accretion we're primary first X.X% continues big shareholders. to all impactful increased
in rate one-third roughly maturities the order to rate better intentional with natural book us relative discussed at been loans evolution an for by is that in that to and to quarter, merger get without can approximately year interest XX% quite our our as is optimal level future stand We've now fixed allocation additional one North management a and wholesale allocation we've some and bank two-third, we This quarters Bank slide of was discussing us of of of than prepared in recent end greater rate time. also teams believe with be loan significant our variable environment. between growth We've first range for any made is originations a our any the reasonable progress Another with now. the We you in time see, approximate an prior to XX% for amount XX%. consistent should in of fixed loans. split our Carolina believe
balance flat these to of net the futures XXXX our possibilities to Fed rate and be that be and minimum impacted are interest least rate risk rates the from fed may either up predicting in addition that down. off at working capital now at even or in fund’s Rest the Additional position rate pause minimizing not be appear aware XXXX. XXXX. the our to and interest is so interest we're margin market are later sheet table for assured might in in to positions and environment, hikes cut a The on significantly current altogether
well as interest and in own of derivatives reposition additional portfolios, We the liquidity as regardless have including We given unwinding the in. this balance our so risk, securities numerous levers all position macro at managing looking layering what's our to to position. sheet various funding pull team firm rate the are rate balance is the bank going or best on we to to manage wholesale in win, [indiscernible] of in environment, operating the put wholesale interest market strategies sheet
we've As commercial exposure been to maybe reduce firm’s construction. estate and our our known, real goal saying to investment that was
our we're our have to capital reduce in portfolios wiggle into charts to well quarter last These and metrics that based out total risk portfolio the worked the respectively. and over are estate as diligently this these seek XX% were insight our intended granularity chart at exposure some years. At you underwriting end, us the give we XXX% We we in real two not relation of does our the comfort projects. give for after as to
to brand peers’ larger our projects likely are well are As they not but book. our known,
developers. lot businesses capital a and that builders of and from our think I local
chart, there. the left detail to see can As you
Our the by the approximate of -- volume aggregate sizes. -- about the portfolio ticket
construction The support greater coverage we projects quality XX below than firmly the loan top the a number have are service right also segment included both ratios from projects. cost, real We've of this these on the larger of credits, commercial some also does to and debt for to million. value, estate. million projects loan we chart While larger, significantly that have show the $XX XX
always of forefront minds, credit. the complacent appear Now, credit, or just I so comments a never credit few about at is when additional frivolous on we hope our we talk
relatively charge-offs. in experienced our we quarter, and asset asset decrease first the ratios along the in classified increases non-performing with net minor For
agree first the chug to commented teams that credit might those actually we event along. first is aren't recently debt on the and of seeing further announced anticipate XXXX management with us we to would that credit to issues macro pause a one that have issues systemic pay quarter how credit may about results, far So, XXXX. respect attention quarter credit contribute will macro to thus too we and specific borrowers. few current pause not Like there's our that to book optimistic positive extension impact in in be said, continues call cycle. will the Obviously, related the the That any
Average deposits deposits, period billion. deposits X target being of XX% XX% are end billion year-over-year. our Year-over-year were total of which or deposits. of billion core is increased Now, up balances up deposit X.X about on funded. X.X Concurrently, right balances core
did This that quarter, increase slide to the up of point like work costs X.XX%. quarter X.XX%. in quarter here from our stand of that a gets changes rates to first upgrade though deposit in the the X XXXX rate deposit What next at through Our basis quarter at so deposit end volume I'll and only the at basis But of quarter ELP XX I’d was fourth the points period first XX second. XXXX, for X.X%. currently X.X% December even in was at out X.XX. is compares the fourth point average rate our increased The
emphasis been with as our deposit only rates in weeks good deposit as a We rates We're in we've into keeping We in well believe currently. a second pretty deposit stating, check. the match ample need markets our being balancing vols, liquidity growth dramatic for quarter. the the between we have the core to we're loan that few our with Fed salesforce expectations. obviously still aren’t volumes increase As seeing after feel
deposits core loans while up XX.X, year-over-year As are up are XX.X%. noted,
Basically, period depositors You quarter, types to likely some decisions rate our experienced would as a We funding can of end deposit were X.X% XQXX the and with bank drove a the Tennessee Carolinas decrease. respectively. decrease core well that protocol at the fourth the end first net tied of first XX% to changes transaction a team sizable in to of the XQXX and one, the profile some see one-off specific two year-over-year in the quarter to end the decrease to deposits March. earnings of also during we the highlight on this and amount contributing quarter that we wholesale of our with growth impact in funding. mentioned modify like from XXXX from I'd we events management call that as by that to call
that index As depositor to few rate the management, a cheaper to a very rate the can find we first money quarter. the increased elsewhere. we attracted was cycle had through a left market bank rates, in has years us account $XXX depositor corporate and with funding to million ago, This been with us but
to bank. is deposits, find play amounted cheaper also in million the at to money respect these Collectively, decrease rate federal broker could reductions. Another we net deposit home loan with the almost in $XXX where
it's the classify exactly we wanted, but work. and Additionally, this as we way what not things
to secured had companies portfolio cash the investors’ by but things, of balance During also many companies We by several their portfolio balances. the loans secured several depositors quarter, investment restructured sheet. at investor the
that XX by investor and being cash we XX this elected in loans very which as reduced We're secured transaction often. size of highlighting deposits million reduced million. During don't loans to given this quarterly, unusual, resulted the by see restructure, being
when were loans it these so was paid meaningful us. several to And off,
closure, approximate depositors see in we we sell firm. occurred leave it as companies depositors year who and their additionally, the occasionally last million was of an fourth our $XXX quarter Additionally, experienced those
quarter, as by were chart no see million. to here highly cash that in those the quarter. details approximately you the on reduce can noteworthy XXX liquid balances were there able like such Fortunately, this first we right events our balances The
book, sheet into were of previously. the own we use some to on some deposit bond employed way XX,XXX, from in match of money balance ultimately such Some a of pressure I noted which to liquidity losses, some able this the that our took price was it
BHG the Now, quarter year-over-year. first greater or than up turning million million over XX% had $XX quarter. fees fees, X.X great to amounted Their another contribution X.X XXXX. million, up was to
revenues anticipate slightly to first several up to of We've had the We Wealth to compared XXXX. XX% last XXXX compared were first Management quarter for in for BHG XX% year. of year, continue the growth to in was this significant relatively contributed related insurance income, mortgage, fees success to year. hires up was our lending in fee and both have stable, investment primarily Deposit from last and related that remained footprints trust. quarter services, which meaningfully
XQ decrease positive and contributed to to this had As in run we XQ that overall of rates, the fourth quarter. a quarter lot the events
hit another BHG this quarter, to revenues we get run from year. the home fourth up slightly contingency insurance primarily from the in last at Wealth year looking remember, fourth you subsidiaries. year the usual is As management and quarter great a our due is of
we were of lot mortgage get to As mortgage. residential revenues. by as was us, environment not back this to it effective mortgage work was recent this We've a had SBA the various customer our on but of mortgage revenues our to first space. swap had with long related is the continues -- in year. is in quarter, quarter. of bolstered an The our of income years, and component fairly first component helpful by though a also even Core our least a smaller all of rate exiting BOLI total modest business to know, Other increased line SBA program really important our the We our as position effect originators. and shutdown but program the to well share at down fourth strong back quarter. in government in mortgage so of more revenues the number their space team like to term the deals. with They mostly banks XXXX, not in a also activity had seen in exiting residential or drops some great rates, increases only lending originators
expenses, expenses thought Now due quarter recent merit the quarter. where the this in for two at accruals, with continue decline, We came to Other rate also which than increase larger for signaling increases by first to will pleased boring quarter retention incentive typical contribute decrease hiring in that, our hopefully it Expenses increase run a in was things attributable during XXXX, our end accruals We’ve X%. booked announcements expenses. largely year fourth and plan to accrual large will hope to We're salaries we incentive with important additional incentives. replicated hires was a approximated year. being not rates fairly about to offset which on that us. report to merger
count With our can to to that client report markets Our investment March engagement are workforce And initiatives as in back and of last ORE for those leaning as expenses, our we’re that, at on up year. services, the shrink. Pinnacle gains pleased expenses turnover continues December associates losses, efficiency from to consistent finish. in and and XX I'll appreciating merger employee Terry Wrapping related on adjusted turn XX.X%, newer and was ratio, culture. are down our over to it XX working
