introduction. for you Thank you, Jared, and kind thank the
ago. the has be benefit I'm teamwork of saying of our I the since built to high-performance the to like and inspired have a partnership in I XX the the that for with all and weeks to by such months, the pleased clear joined forward with a team Jared the is have a their to been look and to transformation executive well how culture I'd bank a levels think all considerably reflection past about It's exceptional starting as X has bank's gotten commitment enthusiasm part of of accelerate to and start making company's team am over as the meaningful vision the I with team stakeholders. great organization. First, key off of contribution a throughout able
our Moving results. quarterly on to
Assets decline reducing offset of The declined in of $XXX a declines wholesale reliance million, of resulting a $XXX from decline $XXX net decline million, loan million in funding. $XXX million an on unsettled a decline sales in with and These by bank from this increase cash along million. were by benefited of security securities. balances in $XXX
of our more million we sold of duration new purchased $XX the a securities securities our traditional During $XXX and the $XXX million quarter, create to in portfolio, securities remaining furtherance of longer of mortgage-backed plans million comprised agency and agency of CLOs the mortgage-backed $XX portfolio, of our million bonds securities the represented $XX debt credit remain securities. of of comfortable and of million commercial end with XX% municipal quality. At year, securities, we corporate the
find risk out to same an that yield will extent of earning look profile. we CLOs the interest other opportunistically provide assets or We transition the the lower to equivalent at
total traditional lower portfolio At of quarter, a a overall distributed transitioning of bank to and portfolio, duration securities securities balances XX.X% our is outside the assets. of representing fourth CLO end and more the our has
total in rebalancing in will to our complete a XX% quarter of of going securities to XX% assets that of expect the range first portfolio the We forward. stay and securities
decline from held the our brokered million, few in lower overall warehouse categories, end loans payoffs mix from potential as changing prior within including included commercial-related of The large $XX in XX.X% million The decline single-family positive loans the quarter. mortgage real commercial $XX XX.X% of balances loans due C&I estate of portfolios, as saw loans to the also of C&I We of payoffs and timely the we multi-family our our effects investment, continue up loans loans $XXX reductions was a total of in mostly in from million. portfolio accelerated manage risk credit multi-family represented lower loans. total residential loans million, single-family our and for at loan of and loans total to most $XX
the and percentage to single-family lower is time. the at portfolio of portfolio but we over loans expect multi-family with XX% a end, quarter And at XX% quarter of year. loans of end, loan prior down total end from is which The mix represent consistent these brokered prior
C&I total a average in investment interest addition, our XX% for XX% of with portfolio. loans has the portfolio C&I balances rate generally. rate in production line for million X.XX%. range market are at decrease The The $XXX held of XX% to production overall of come the target totaled and In weighted average quarter rates the loan within of down our new during
X.XX%. average XX However, the basis points higher quarter yield rate production than portfolio is of average the current fourth
bringing long we're then a more profile stronger in we the to and margin, be based, continue the as earnings believe term. which On contribute case loans the sheet will balance relationship this to in the better a will are
refinanced course, term, repriced yield short loans in Overall, financial the as our we of declined fourth the have the level as lower X due accelerated loans. X repayment be a brokered basis earning institutions. capacity loan fees backdrop coupon maintain the to and in portfolio. we portfolio the by points and the of commodity quarter the higher yield sheet as discount balance of The continued In payoffs to against rebuild basis prepayment loan points of quarter-over-quarter loan originated challenge, our to the will other loans include higher to does rate be environment and from purchased
enough impact the market However, prepayment fees positive was interest offset of of the to lower impact higher rates. not
deposits, million CDs Total renewed $XX CDs that by quarter, non-maturity deposits. accounts. $XXX to deposits during other costing higher-costing and the X, $XXX were higher mostly to by driven decreased matured million CDs Brokered decreased by non-brokered including not $XXX fourth decreased decreased savings million controlled of million. and runoff Turning
In million, while check-in deposits $XX declined million. bearing increased $XX interest addition, noninterest
interest increased for to efforts a total spot check-in basis priority balances our over lower million interest the deposits, represented cost quarter. deposit with down check-in, X.XX% place reduced XX% XX our combined on check-in for of impact of noninterest by at year-end. quarter. While lower-costing market our rates, to check-in Overall, prior were from $XX Noninterest-bearing average higher relationship-based and the points deposits noninterest-bearing bearing average gathering the
$XXX reliance FHLB quarter wholesale asset initiatives. proceeds higher-costing as see reduced quarters million sales on the pay prior expected the funds through by We our to funding the reliance decrease from advances or the FHLB wholesale on XX%. lower should our our coming the achieved to in We our funds, be used advances quarter. needs including down to We are continue deposit during
net per expense $X.XX the program, the for XX%, equity the were to associated After for items, the at with or with common million. along quarter were noncore adjusting for Reconciliations per diluted expenses operating located statement, share diluted for income Looking rate income earnings million $XX.X for operating common $XX.X the earnings quarter. tax amortization are tax $X.XX our solar stockholders this quarter fourth was to within common our available core from fourth today's our presentation. Normalizing share. operations
tax our expect we XX% rate to XXXX, the be For XX% in range. to
basis our increased remained to our point interest-earning overall due the million of impact Net the to earning interest $XX.X higher interest margin decreased yield assets to in fourth income basis funding XX a decline flat on lower average The the part interest offset $X.X points to in net assets quarter, costs $XXX prior in mainly was million, net margin. by quarter is X.XX%, expansion due while X.XX%. down net a assets, Average interest million XX the from X.XX%. earning at margin and
an represented portfolio assets, combined a The earning offset increased percentage yield loan asset loans yield. securities our on yield interest-earning of mix, our an asset by lower to due and higher with flat as remained a portfolio improved higher-yielding
on the point combined quarter declined Loan $X.X interest balances, million described. Interest down third increase of representing $XXX the from the on three average in X CLO percentage portfolio average reset balances decline this LIBOR. on million have offset on increase in yield, to a lower the as securities X.XX%. decrease a based income income average portfolio asset to lower the overall was a CLOs as portfolio, basis to yield offset $X.X by lower the by earning average CLO an due in the securities basis million due by XX previously The in point yield class by month higher with higher-yielding yield is
average of expense interest-bearing point the by interest in decline million lower decline to $XXX overall from deposit of decline this balance advances of by offset funding lower deposits FHLB due interest-bearing to a to $X.X on million X.XX%. basis due deposits, of expense decreased deposits. million The quarter such Average $XXX XX.X% average lower a noninterest-bearing in as a the basis and liabilities due by cost deposits and cost $XX and of in X to deposits cost average costs average represented deposits. balances increase million of prior million XX average Average by points funds. interest-bearing Fourth the a contributed basis to quarter deposit decreased decreased the these total and average previously point average deposits described. average in the total noninterest-bearing costs, from lower $X.X million XX by Interest $XXX decreased total
to ahead have Looking opportunity interest this first trend continue the maintain our margin a to quarter, and we good above net X%.
offset focus October to from help should types, which rate away into will single-family the on remixing and market impact other We September portfolio high-yielding loan our continue to changes. and loan the of
base. improve mix funding both addition, continued on pricing with our relationship In to we expect of and the emphasis banking,
provision during total reduction The the the loan quarter allowance loans while loss of reversal million due basis loans our is loan the for nonperforming losses the loan is in allowance to XX $X.X balances. points. XXX%, coverage held recognized investment ratio $XXX overall of to in million We for for ratio
of Total noncore mentioned core few annualized. fourth X.XX% adjusting I for expenses were $XX.X operating a assets ago, as expenses, for noninterest the quarter million. And million were $XX.X expenses quarter minutes or average
We remain term. the for to quarterly average, below million expect, rate our $XX near expenses on run
a as expect the built are expenses the However, to year, so there QX. historically in see uptick for more first an into of expenses quarter reminder, we
well equity remains to asset a year mainly X.XX%, ago. from capitalized position increased to smaller common up above Our Tangible one capital base. X.XX% robust and due
June Series in D funding and for we're XXXX, Our our various options redemption of stock is currently D Series redeemable preferred stock. evaluating the preferred
financing on Registration and with the The In to S-X the opportunities XXXX. the Commission flexibility expired enable and markets capital August with arise respond addition, to that Registration access Shelf yesterday, the company's Statement Securities public business to a in in prior Shelf and it to company company filed Form future. Statement may provide the Exchange
Finally, move asset credit I'll on to quality. and
declined in strong quality as loans classified the by remains Asset $XX.X and total criticized quarter. million
Our decrease returning nonperforming nonperforming nonperforming yearend. of The offset of $XX.X assets performing $XX.X and loans the million of million placed status, was due nonaccrual $XX.X million sale loans million $X.X to by in of to decreased million to also as status. being loans on $X.X
up loan-to-value our national loans. is in XX% includes a total status large quarter. loans mortgage balance the quarter, $XX X on residential is that with loan that nonperforming Our on went make the the went fourth third nonperforming shared that nonperforming a single-family nonperforming status and a of credit ratio One million XX% other $X million in
those single-family due are the through. loans nonperforming portfolio of appropriately loans. tend work believe to low but and loans, approximately reserved, we that to loans are is XX% totaled rules, the two risk $XX We from Aside and to single-family longer single-family consumer take loss on million
estate real of with million linked addition points. XX% That financials. in the of $X total The expected to continuing finish from increase decline C&I the segments the quarter XX in end summary loan decline of nonperforming my Our loans year, the up prior relative quarters worked end is total to reflect the ratio loans one developer The a delinquent delinquent the the loans by ratio is loans out. points The basis the nonperforming basis due quarter. fourth includes Single-family in up represent year-end loans at total of the total to increase points was of and assets be positive total the of delinquent in XX loans will $XX.X million XX for a a basis loans million, $X.X to increased loans. delinquent other loans results. resulting to to at that
turn So I'll the over to call go ahead Jared. back and
