Mike. we'll you, Since today's call, business Republic founding, first and quarter to our communities. events strengthen to clients has discuss our First serving On in our fully results. actions committed and Thank March, been the
exceptional wavered. industry past we service the as to were client not delivering impacted our Over has weeks commitment by seven events,
continue have. needs clients' We to banking, always our management as we meet and wealth
billion period. group with Republic $XX who challenging to appreciation for like this our uninterrupted their and largest service also of in First dedication for us. take uninsured communities like America's banks, of I to throughout would I'd a clients reiterate commitment moment colleagues to is our the deposits placed their to our and inspiring. thank Their
provide expert and for who federal as have support. continued our us to regulators As state with well
over two first of us to that like retained and quarter. their our decreased, months of of the also while past the ongoing start client the advocacy. at would we banked for account have average with Despite XX% have relationships the uncertainty sizes I clients Lastly, thank
We trust who continue to are their clients grateful place Republic. First in for our
now me Let funding. discuss our current
in week our we stable unprecedented they unfolded the the have March, experienced March outflows. XX, events time. that Beginning deposit As since industry deposits stabilized remained and of
of March of or total XX% deposits deposits deposits. total or represented were XX% as received of insured billion occur Total the from tax deposits were client and April banks, payments large from decline from large the deposits. billion seasonal April. Consumer the billion, reflects XX, $XX As first This XX% were $XX.X XX from deposits. the each down that only of banks the XX Uninsured $XX.X of deposits billion $XXX.X quarter. slight X.X% excluding including of end March total deposits
outflows additional accessed unprecedented middle In response serve liquidity of we client the could needs. to March toward to deposit the XXXX, we ensure experienced we
by our was $XXX.X billion that billion, do $XX balance so our equivalents Our credit portfolio. sheet. on cash March and borrowings peaked on quality loan supported at of swiftly cash time had available of ability to Total outstanding the XX at we
portion our a repaid since have We of borrowings.
cash of XX, billion billion our we sheet. cash available balance have and March $XXX.X of to had borrowings total declined and As equivalents $XX.X on
we more is deposits. as unused than uninsured and of X This our had Importantly, April XX, cash available on of borrowing $XX.X hand. liquidity available times capacity billion
of billion uninsured Excluding the from $XX deposits banks. large received the
quarter. our of strong been this the First credit, Republic. pillar a of quality again portfolio was has demonstrated to Turning And credit strength
approximately total quarter had assets. first of the quarter, basis the X recoveries assets During $XXX,XXX. points net ended only we at Non-performing of
ratio and XX%. loan estate, on only I focus of commercial to has average of note our just commercial real industry the want total value to that X% represents real loans estate Given current portfolio total an
risk based ratio we ratio to of end. equity X a of a X.XX%, at ratio leverage of Tier X Turning Tier capital common total XX.XX% capital, with a capitalized X.XX% remain quarter well and
As preferred we previously common have management, dividends suspended matter on prudent and all and announced stock. as of capital a
wealth to management. Turning
management During the X% $XX under client inflows. quarter, assets including net increased billion of
Following departed responsible assets XX% wealth XXXX. than as less wealth have teams March of were industry assets total of that from for events, recent XX, management management
we However, portion wealth associated management a retaining anticipate with teams. of departing assets the
As management has have April XX, of terrific a years. professionals. over talented Republic the nearly XXXX XX% teams wealth to First of built retained our is the testament wealth This franchise
benefits clients. committed uncertainties, with integrated we to capital quality banking position. face credit our Though challenges and And stabilization it remain the wealth unique strength the of fully to model. and management our deposit of We and base the and provides our
our We to continue steps to strengthen take business.
First, deposits. we are focusing our on increasing
so doing and on deposits new organizations. from are by businesses insured nonprofit focusing small We consumers,
on focused off preferred educating banking existing offices balance insurance also which solutions, deposit as as sheet optimizing providing our their by we liquidity our serving FDIC an And are We driving and on clients are options. for growth. important channel well leveraging remain
a the will deposits of in remain total uninsured than deposits past. smaller percentage forward, much Going
we decrease uninsured balances loan to on with our reliance Second, reduced to are correspond working our deposits.
and are balance We originating servicing these focusing the the to so our We intend by sell loan loans intend and size short are retain on remain the our actions, on loans that reduce these primary to have, moderating to we point in we contact of doing address always face. reliance our the continue we volumes to of we as on we so for sheet, market. our borrowings Through challenges term clients. secondary reduce
XX% will and incredibly that and regulatory and and decision our the continued a committed for to compensation the service reducing we are and not affect with reductions corporate previously client to With an expect controls. activities volume, XX% Actual supports during meaningfully to workforce significant non-essential so designed our risk condensing and quarter. projects, of our we our officer by to make to space respect expense approximately our balance with reductions on include: disclosed; This size size are reducing on we align doing and to projects reduce difficult way under does the Third, our office expenses markets; in to care steps the within focus and colleagues. related support in These loan executive taking our are sheet. focus as second activities. way reductions reduce of be
meet on consistently opportunity communities. and and model within and In simple to clients; addition delivering banking the while creating of aspects high I've include: remain service; expedite our actions to collaboratively and are position. the strategic key underscore focused we management pursuing business our a progress, will also that the working operating to needs serving wealth to options capital reinforcing unchanged. These outlined, of business our maintaining I our client quality; exceptional credit straightforward want our
clients Republic underserved First help growth investment and dedicated XXXX, communities. capital a to communities. lending billion It During and our within in serve economic $X.X our to privilege underrepresented drive and support is
We for continued and everyone are grateful the joining today's support thank call. for
