my time. some for Thanks, shown slides have Terry. everybody. Good Many quite I of morning,
We're quarter first going growth. loan So our I'm pleased high to hit points. with the
up and quarter quarter. loans Excluding were between X.X% PPP, first the average fourth
inter-period December March up X.X% XX PPP, annualized. XX at Excluding loans compared to were
So call mid-single digit it quarter. growth a
of spite the we last in and As time the the steep mentioned yield loan yields will loan XXXX. as in in curve fight be yields to
lot relationships harder there. it's There's into our now. equity market a of will We sure maintain our It feels like to even yields. lean out a borrowers right
decline to more in based biggest problem points loans decrease only and a LIBOR X being and and while but basis the a basis saw most yields second. rates X Overall quarters down PPP points was slight in that X next fixed Our were loan model contributor the down difficult to overall with likely the yield down credits on down loan basis to be points. few XX% over rates
here. from So where to
dialog period growth single ground our leaders excluding reasonable the in frontline in with continue digits to is our market our believe continual a number for Our loan forecast estimate based PPP on for the built up the We that that XXXX high lenders. firm. from
us As advantage Southeast, always the best in hires optimistic coupled an will give growth to the with on new to for to loan our growth, we we're loan our about which on believe markets be it the best goals lean XXXX. - we markets with bankers our making take
the rate curve get have As on financial of can to to we shield money pressure. our some a be book rates variable help yield the floating will traction yields, floor from some steep time. we that under of XX% still in loan continue Hopefully over long so in about
around $XXX about accomplished we we'd of the billion and XXXX in here, PPP we've just fundings, that's funded end million programs and Speaking tons where XXXX in the of thought We're program. between the up. over been XXXX $X.X work two
is don't we a anticipate deal great New more. application so slowing, volume
it programs can't to has primarily and and used for with was we're not definitely better a the I'm Here's process and in No and all get as our through. had continues last the one least casting on made businesses stones, over the last up somewhat help in rain these deal and improved all year clients. easier imagine but but to life The mark smaller hearing the seems frontline, is rules, The to year to at has what hit what move around, this has FDA perspective. running. the us since program The it's our spot. SBA to we XXXX from change
As to to loans forgiveness, quite million and than time. some getting say be $X SBA are appear on been done, greater less than the have $XXX,XXX smaller for while clients say [indiscernible] loans
their some with tax and CBA. lot ran quarter, with the dealing for into of the then slow working During was a that issues technical we class season SBA a with
will Eventually same our between than around, is It that of be will just all also in when. quarter, does After on limited. another will $X forgiveness. forgiveness. round and believe appetite at dive seek to the know our total decrease the modeling Our but results revenues the substantially will first don't in somewhat we greater the PPP it the not will who sure coming to all of there We for if us. are their Not but come will depends consistent clients, loans fourth eventually of have the are whether it get quarter. be pace thoughts SBA the PPP we repaid decrease million and that
$XXX are the with million awaiting data $XXX SBA approximately necessary about where to to loans submit with for million approval. have together we currently We clients forgiveness SBA the and in working
another Now in $X.X quarter. deposits deposit. on up is at last big deposits, a had quarter significant part government we believe Core $X.X experienced billion up deposits since Obviously, ending of significant we almost stimulus. growth the first at XX% end to up that year. We've non-interest-bearing billion in were
loans to average average only Our down to was XX.X%. XX basis deposit ratio points
a small victory. we that So consider
Our were XX - points rates EOP deposit average points. average our basis deposit were rates were at while basis XX deposits
remain are the Liquidity strategy on gain present. that at XXXX we nearly for to points big basis year. and momentum The this to the continue banks the assuming XXXX bills look of downward steepening forecast for remained be for has but remainder gotten deployment neutral any more bond we of curve all short-term by rate attention, XX around fourth our So our attention. of quarter sort yield of see consistent
ratio long Our time. a XX% has to for to securities assets been XX%
the in to next We may that Our slightly XX% into amount over be estimates XX% bonds are that liquidity it are than will modest but quarters, peers ran more of deploy a range. months. the few
million quarter a allocated by currently. late parties portfolio. secured first instrument also XX This repo instrument rate $XXX that around is into points a which We investment yields the about is securities the in basis counter floating
be second are more of impactful a this eliminate we but where earnings looking similar while as all it mentioned somewhat prudent can credit minimize it'll know, the we momentum. won't at I risk, So some to or in creating Carly, product We're actively quarter. looking large. investments, at be you let
as acquired the liquidity reduction of last on the we is in go-forward. and to quarter, which reduction This an book This deposit anticipate. charged slightly onset name the we will year fully which opportunity our again second a $X help broker wholesale books our help the costs deposit the at in reduce pandemic. in should of almost top have our part case, bill billion As funding our intentional we reduce
five Additionally such is we federal with years loan penalty million have four that about years. the period $XXX prepayment still on to bank remains borrowings payback home in the those
for three hold up the quarters rest four our year also now, calculation the We after slightly our NIM have now monitor for lot We continue. PPP borrowings NIM That's up same of to with So similar quarter do a row. is we our but now in was last to a X.XX% believe PPP up approximately tight GAAP anticipate quarter, a name quarters and the flat forgiveness, to liquidity compares adjusted we'll X.XX%. that. row, in is in a those will which
last I'll be were these the for the $XXX than management more for had over quarter, in quarter to year. the quarter quarter great Now to first were income, comparison XX% of revenues number Wealth the million last year. fee brief a
beat management very in We quarter hiring posting expectations continue continue front million Atlanta. by our revenues up particularly on last to build from be $XX.X the wealth $X.X and active quarter. as a to of Mortgage for Carolinas we franchise, across the the million mile
strong Second well. as quarter is looking
much as sit market away mortgage about we today we XXXX us here appear are as we we origination As than the be ago three moving optimistic right as not quickly more to months might. anticipated from were in it does
have and minute. a more markets we of our cards the several a quarters. issue great strong I'll But report hired several remain last originators continues to Our quarter-after-quarter. markets key few in about BHG BHG talk over and
strong specifically down. current back expenses operating incentive of are and associates. they our per think very familiar that the much incentives base we of was at hitting that associates and costs As anticipate soon will incentive of the earnings recoup go based will fully incentives, hopefully is to and if cards XXXX least for not our terms our the come our impact go on some environment everyone cost as with XXXX. lost from I up But if a expense downer in XXXX our
We to our status an expense cash to free incentive stands this so have our reserve that some the growth opportunity incentive. reason lunch, able reserve no growth outsized tied that bill This earnings if to some provided provision usual associates its earnings way our impacted supports required is the increase year more plans of It year which recoup that if only that our year to to incentives outside earn incentive CECL occur our prior numbers. probably there's than and Last there's only year and directly to on ship bill says most. associates. we're of this annual year incentive an that
of the maintain We also during middle added which the PPNR component we XXXX.
has ultimate rank on based way advice our equity changed performance our investing how goals firm. goal a compensation awards we board achieving leadership absolute our Rather also the Additionally peer for works than the the for equity within more group. of
annual value period friendly a return. over shareholder tangible that Specifically on time shareholder book probably growth long over you on year of cultural. you our unique the what for is of plans, is culture, first cash and But modified targeting have a a is believe three part know firm the incentive indicate we're spent been much the direction. total around the we show while incentive change both drives equity ROTCE quarter and of incentive based it this. along right the have with That those heartbeat I And definitely term. our in structure for too would more trending
new single rate, decrease an should to all run decrease. our amounted the high the of million other personnel all coming anticipating expense costs personnel with XX% right, per each Conversely, see we're our As a expense between quarter slightly with our should year. than XX% XXXX. increase of more which to of remainder last year more of incentives non-personnel for digit expense $XXX a percentage That's inclusive off hires increased in
anticipate to our meeting to of trend associates. to comments let financial less the But compensation tangible our exceeding we a all on work by our it avoid issuances for growth we've points. leadership's where is out couple in than price with equity XXXX. we a year. it is. develop been capital, are looking with near a and And acquired of adding a we share target leadership $X.XX any any redeem We've our before, Quickly I'll determined intensified I the as to value the will be of last We accomplish working this share some our stated trend term. buying that mentioned quarter to hard the brief. focus on not I year. paid firm objectives book shares not raise this subject That's and our a dividend in forward don't in As previously, to component We've
As covered to previously. on as outlook, we've in go to of the depth our I’ll most slide this
renewed about think. that great and we That there this is said, realize we optimistic confidence is piquing, the most. builders So we we Pinnacle appear clients than where for markets, of out headed. model and a our in optimism really summary our more the our what have Obviously,
hours. chart - we've Now on up for loans with BHG. three nearly the try is several have that bars blue are ramped being the a The originate quarter This set originations funded being and every more slide on with shown we to for past the records quarters.
downstream recorded quarter ending loans in First for is a banks. for This Coupons the as gain-on-sale are years and at sold quarter. first green record both was the The have last being gain-on-sale has loans place. been originations model fluctuated three represents which with the revenues generated. on somewhat traditional BHG XX.X% over bar these
buy This quarter network for that individual The in one and mid-Xs improved remain last in over fell This to bottom bank over the BHG's demonstrates loans so of have the in the XXX their [indiscernible] they slide previous chart from standards. is it resulting X,XXX banks platforms model. to right be and fair in slide years. hit better over of the net funding BHG more which banks time a first to rate, gain-on-sale model up the year. loans is the last X% As potential strongest significantly now has years probably in few BHG’s country. best is almost rates acquired meeting the and spreads growth
future the while banks. X.X% last and currently under the bill with outstanding recourse As XXXX that first borrowers to obligation who down quarter. to for with of it banks. sold line by is first the several of improving was reserve increased network approximately community loans how losses have The in they annual BHG we've basically as blue and be to orange steadily at last details past The line the on loss banks The reserves consistent we've the loans Trailing I’ve bar they $XX risk the to the loans and with the percentage the other offer The few that chart acquired years top years, future their losses I quarter borrowing sold green other BHG’s has reserve during loan. for $X.X in used over to said these knew BHG charge-offs reserve sold to are for is chart. losses updated COVID, chart credit, may would credit powerful most the have used scorecards banks. before shown to just continues loss on XX of the their reserve the These year banks. the steadily improved of percentage The accrual who the loans obligation a BHG occasions. Again the where has chart quality BHG’s shows the credit its in and billion rate, for as the reserve and a quality. to of slightly. few base. as landed With million right chart rates. But COVID - impact refine BHG other loans, related the recourse to left details quality have for increased
losses events years a and base Looking few very is ago. losses in quality loans. cause the of in out opinion related the is just life underlying much at earlier losses may better level thus month but a the than originations our borrowing loss percentage over pointing to lower from upward Pandemic the toward by move these continue to impressive vintage, since of
year high future to Lastly, expecting This a $XXX similar on securitization executing in the quarter at BHG great securitization. XXXX the XXXX produce a again its upped XXXX. Last anticipate everyone sources. even had or funding second now of more first big another BHG’s of up. to We're we BHG XX% we’ll the to continue year XX% quarterly its say expecting earnings outsized in ramp continue revenues BHG for We've in diversify our and million place XXXX in last to operating in first here to quarter big quarter digit XXXX there. near anticipated XXXX. we it the the allowed BHG said and for and exceeded was before single BHG we growth. very in to much expectations relation had quarter growth expectations
continue we'll So wrapping but pricing growth down. should are we work very but to up optimistic. Pinnacle earnings pricing for we in Personnel in credit NIM been another believe increased headed is Pinnacle will go to had shape. them. up, loan loan be and both has Deposit flat to great BHG in XXXX, up. quarter growth remarkable. believe is and take correlated and for we great costs BHG much Deposit
about I'll turn with to it to So talk Tim over growth. more that
