Thanks, slides is deposits for so morning, a I've Obviously, the move positive to the Terry. through slides in quarter Reporting XXXX quarter give price quickly linked the We've focus. of time XX% a to for a the Good growth this with usual got I'll few reasonable new morning, elected at new first everybody. information. deposits. in real key us. start was growing
Housing deposit gathering making deposit initiatives. franchise are non-profits believe continue build and and other to with We Community special others, and Association, around out we our HSA, headway we these
through in relation XX% do stands rate rate more our at the hikes. client earlier two base our hikes last Our to that have have to deposit confidence been some seen fairly cost. cumulative some to increase March XX. the The are, cases, while deposit beginning approach in consistent increases increases cost appreciates beta cost that now we've experience rapid deposit fact We competitors in in a just
with addressing could managers, to as armed the relationship base the came slides. of come result more everyone how answered and sudden proud that of use that failure franchises deposit years to and all our the that our two information very jolted We media of defend like the building well they that payer hot when of units about one unique our be timely is the attention Signature new as relevant call support two with franchise of and the our as not as these of never was well a before. failures. and people many were franchises. by a our have Bank the of as We of Valley This we the topics of having around call all It's Silicon relationship
uninsured the going chart deposits years, is and uncollateralized last top the at few As the for our to uninsured trend left pre-COVID. deposits, back for
that we offered of the than depositors for in first attributable that FDIC The is important deposits here to a This increased a decade. product we've that request of increased those is trend level is more drop X% the quarter. reciprocal offer Most that of coverage.
that All in, support. peer additional Our firm been may we've support is about require our alternatives traditionally depositors uninsured on median focused performer to on providing a group. deposits several to
insurance liquidity deposit FDIC we deposit Hand in We discussion and for approximately deposits. the hand around the calculate have provide with breaks parts us We The last XXX% given account in consumer position. currently our to enough commercial coverage There about two $XX or so. is also those. billion our commercial that table or our sizes. account billion much interest available sizes is the trends of about $XX.X deposit chart for to liquidity were uninsured position per embedded in our hovering years XX,XXX of uninsured
PPP, balances base. to going dollars During cash building environment, well COVID due clients forward, least counter higher commercial risk as balances perceive fairly due more increased for a meaningfully retaining client economic to at our strong likely as to
mix the last rate in higher at seeing XX% second chart, As non-interest of products, shift we're to around yielding move the right bearing quarter more interest depositors bearing since deposits. and bottom year. deposit accounts into interest non-interest lower We're total to
decreases Our of as before financial knows We plan really on end through further one but chart year where the end. XX% into levels, up. noted will the no rest to likely it XXXX, the be low contemplates pre-COVID will
$XX XXX how began to smallest that to Right transactions appeared week. time. they anticipated $X.X deposit a bank went after around identified the account what managers just happening We the XXX We tracking to during as not XX that through our Silicon determined the cap million in what million. March failures contacting a with failure, comprised critical began the about deposits depositors changes prior billion to of uninsured and being depositors we $X it end March back relationship brokerage find of mid-March, of were balances or to Those to to March flight in Valley safety manage last account something be out call about prior going was bank their XX. this large deposit XX the largest
those week, As which in billion of the $X.X from that at up about XX. there billion had was March deposits, end the same $X.X depositors of the slightly was last
been those XXX not Silicon and inbound able top that in identify of about deposits new Bank. to accounts were in we million XX. specifically as the have Obviously, the were $XXX from March Valley Signature Lastly,
Given last guidance deposit very quarter to for base at first single growth high believe on our deposit and deposits, offered intact digit growth we the year. strong remains our double our results quarter low we remains resilient
another was growth quarter quarter strong first loan us. The for
mid-teens We from are mid-teens lowering our loan low-to growth. guidance for growth this slightly year to
rate price strip. We're further increases as also the and average expecting for increases rate up reporting for X% loans this announced renewal lower As plus we categories release credit we the the in the adding guidance the the growth CRE macro night, noted of loan yield quarter box are coming last are tightened targets. for for higher at we're anticipate certain more opting and weakening fixed for environment we incremental with construction a
So expand we should see fixed well. as rates
chart on help our the of based the of XXXX comparing We're on XXXX. better everyone first growth growth. to again categories to dissecting net noted The all quarter slide is understand of loan source the our
As than many hiring work come here. model the requires years significant know, greater of to XX experience our you market to in
special just as that and many relationships Atlanta, cases, over substantially new other other. in showing Nashville, fact with with the with managers growth of loan extended not relationship a to Charleston, working for applies true our This is Pinnacle but to legacy decades reiterate, each of units markets, borrowers Charlotte, to and up well. all our have at this DC, not lending Just borrowers is then new idea Bank pitch, to
reflects, of our As we the failures. way life as left the of $X.XX back, X.X%. of more two average basis loan of we sheet the GAAP weighted the NIM about the which to XX added the anticipated balances, maturity Thinking balance bill this cost, rate resulting of Out federal than home similar as chart for abundance we at years inception start absolute and come size at but average the with trip an in recent to a a cash approximately of result top we've our a built in COVID, billion tempered bank as the of liquidity decreased the bank points well quarter. liquidity
we by down likely to have it basis call planning sheet, on the NIM balance our the liquidity our additional the that points. our ten year With of will remainder assumption be
said, increases should provide in growth our income. for interest models That net
As percentage over is reasonable XXXX we XXXX guidance mid-teens growth income enter this of at believe for XXXX, we interest time. net
well. credit to we're very continued Pinnacle’s for again As portfolio metrics. perform our credit traditional loan presenting
for that we CRE of earlier, continue number a our are only have the officers. bottom the We now right very somewhat to a appetite by chart appetite limited on construction. CRE noted types considered new As adjusted being limited credit so
units Additionally, are time the for quarter, more being. presently during any CRE residing that our difficult will lending another to sheet new bank's on our PNFP officers the be balance notified loans move credit that to
for remains In strong. perspective a our our credit from summary, outlook loan portfolio
advantaged. remain So we if to trends negative we begin develop, believe
the top the for slide new is day originations. second began The last summer, reducing We our chart. about with construction deal consistent chart construction trends My in which for credit. left with appetite is
in would multi-family our residential. also is the warehouse, appetite indicate chart Additionally, largely that and concentrated some
Secondly, of loans, on much discussion CRE which fixed of rate renewals about the the is chart the right. objective top the
a will in renewals quarters, around these to rate several we and next have the Over X.X% rate approximately average is currently the X%. $XXX on million loans fixed
range. Our plus X.X yield at target renewal will in the be
expense. Two to being our comments the size last occupancy will five coming over able the for with confidence great levels property three interest chart. and volumes of continue afford up borrowers regarding this to manageable to we very and rental incremental be renewal that fixed Absolute increases that have years appears stable, rate the
our Lots of credit in shows about bottom portfolio chart zero. The our our about where noise said, like also as That is given on select and well bottom office office right office of like XX% markets details granularity some now, not table as left of markets. our any hear We what the CRE appetite rightfully the details is borrowers. new around located. markets, for our The The the so. we are right and metrics. portfolio we
very Our are borrowers aware the with on strongly office lenders. and of the these quality says that credit point officers about case portfolio and they're macro feel of our
to speak BHG the on a few fees minutes. and in as I'll Now always,
a revenues fee said, million. mortgage, of that up BHG we're with generating service fee increase pleased than as we effort Excluding saw in from management. our fees of All units somewhat and were a more $X.X wealth nice the rebound
hires, fees so given so We also year, recent swap increasing far on focus have good. this
growth expenses, rate and We investments come around for related high adjustments and calendar of over in to X%, to taxes BHG excluding will the were XXXX. Plan a up beginning increased in of timing quarter. and continue the prior our fee differences at that a match at XXXk year January other increased primarily to low-teens FDIC insurance XXXX around due revenues payroll headcount, and expenses quarter at posted merit beginning equity single raises anticipate franchise credits target for taxes of Linked assessments
cost the the to. taken look Along to deferring have offsetting the slowing we we in comparison first should a incentive reducing base. are payouts financial anticipated expenses at with reduced the accrual back our we nature expenses, target incentive hard year, for hiring, to our The bearable expense Additionally, XXXX our projects our enough leverage have throttle increased need we awards of speaks linked we quarter. our like feel plan results in to and to of are for XX% approximately quarter on anticipated
growth of our us. updated year plans are this this said, fully Overall, seize that plan into year we have front have have and opportunities to we to energized we a modified in incorporated That our outlook. have and bold for
As have for our in like expense guidance XXXX. should it lowered over growth expense to our mid-teens result we feel and base XXXX stands, low
As common quarter per the quarter. annualized book tangible $XX.XX from XX% last the up share quarter capital at linked end, value to increased
capital tangible stack any equity and plans our our our at common have served book like Our taken to well preserve no the of X.X%. actions currently via capitalized. we've well tangible preferred to common us stands believe We which and up offering. ratio capital We sort alter above or remain value capital Tier X tangible have ratios ratio,
ratios chart the of slide of HTM end losses to and this of Couple peers given capital the compared December, select The tracks to at of associated new of as things impact the portfolios. bottom with the related the slide. AOCI
withstand way the the changes to or given setters capital sort We to capital pleased either any very are our with from our results coming to peers the that of may able rules be regulators. standard be
the outlook year. a before for the we about few of BHG rest comments Now, look the at
BHG even the credit score As the standards slide were originations same the XX% of tighter with fewer though decrease of great year's in place place implementation all another XXXX in are BHG did believes indicates, in had lower from in quarter a quarter year volumes standards XXXX. so mark, the by BHG’s in reduced would've first been credit credit production originations, now credit quarter. as been prior loans of last funded for that during the last versus
did which into the to now in network. that of approval X% All from first in the related for reduction fourth is expand the significant are bank at lower tranche quarter Spreads quarter rates. approvals, the sold loans
the compared that First the quarter’s in larger XX.X% map spreads prior were so first this to revenue of quarter with the quarter, thus X.X% sale gain on to allocations was compared fourth, in coupled quarter, up platform a the works. X.X% auction
$XXX for the by to call as it million accrual million a accrual substitutions loan been of $XX from its The increased sold BHG’s substitutions prepayments for X.XX% million, increased loan posture has loan precautionary effect and more BHG in for prepayment increase. portfolio few management for quarters. last $XXX
right the losses recourse blue with at consistent chart bars stable X%, As show last in were basically year. bottom the
the BHG’s on This slide lending sheet new focused is balance on strategy.
loans the investment banks BHG along held community sheet sale the sourced for et loans recall, chart allowance off loan individual on BHG's sale network thus previous cetera. strategy associated including balance through several versus sources, you to the for to with is losses. holds on is bank a On As as left banks top shows of the negotiation combination securitizations, depicted the funding for of funders, gain blocks sheet other balance The and slide. for program and
loan increased quarter mentioned losses the on or its about last BHG balance sheet of quarter, $XX reserve $XXX as to last loans X.XX% on we increase. X.XX% million and we balance million environment, its from as Given macro sheet for mentioned, a or
adoption is course, Of for on X. CECL still radar on October the
anticipate We estimated range. to X% continue to the CECL in the to be X% Reserve
loans funding firm's with rates average in cost. The quarters and borrowing the loan include denominator. the HFI both credit. as bottom along HFS would of The well consider loan include average balances collateralized both the borrowings yields lines shows left for as the several by last working and The yields chart
rates completed loan the the around strong environment. the in spreads borrowing in were is Thus, at X.X% at pretty X.X%, With to XX.X%. increased securitization March, this were while which yields
information. in sheet BHG As and bottom charge-offs can supplemental right net see, P&L around usual, at the balance is The X.X%. the charge-offs first shows charge included quarter reflects as you and increased
the appetite reflects reasonable and complete successfully successful week mentioned, accomplished at indeed was significant Valley the during as the a Silicon right seventh and credit. Bank its Signature BHG for BHG a Lastly, great after failures. get did rate To securitization their that
earlier, credit lower its in an base. base. to looking respect with credit particularly borrowing of BHG mentioned monthly, refreshes for score forward. its box, impact This indications As charges on production both going tighten and BHG borrowing weakness its always have spreads will of its
were their comparison Credit previous believe In lending, we with scores quarters, being annually. $XXX,XXX cycle slightly BHG borrower to bars consumer up compensated have well borrowers from other remained the around far. resilient thus earnings during so the remained average
like some key for talking reemphasize four several to I’d forward to Looking the on we’ve last quarters. points been three about
a is the next First, environment BHG few real at macroeconomic way. the to data BHG and quarters. management increasing will reserves least has over in responded on based macro be very
in is towards liquidity funding we momentum believe originating BHG their their been strong less alternatives XXXX equal they peers. XXXX. broaden or will new Secondly, credit levels are has we maintain believe production modifying those strong by Production great risky platform, which have unmatched volumes to BHG’s their models assets. and to already
calls coming. inbound $X.X franchise BHG more to available in has liquidity billion this interested with Currently, fund
job positions eliminating expense other took as as BHG headcount steps Lastly, reductions. most its to open well and with eliminations limit
from $XXX around for somewhere growth year. for basically we this earnings to are million reducing year million the this For our flat quarter, to $XXX BHG outlook
Group to the continue have Bankers deliver We results in confidence great at partners our over to Healthcare long-term. strong
slide financial won’t around for current again. XXXX time, right go outlook Suffice to our of the issues macro in again usual say lot Quickly, now. detailing swirling there’s a of I through all the interest these
We on have put do is to what we forth what a Fed case going the knows will rates. happen. Who business on think
today deep lot. knows. a recession our a else is do we we likely know that is What that like is we business environments model anyone how nor based believe really relationship have and matters resilient, We severe or
Our management have economic downturns team has before. experienced and we tackled
great thrown very We curveballs in handle can way. perform have get at them confidence whatever We and us. of a outsized
that, over back with turn And will it I Terry. to
